Public funding and private investment for R&D: a survey in China's pharmaceutical industry.

Science.gov (United States)

Qiu, Lan; Chen, Zi-Ya; Lu, Deng-Yu; Hu, Hao; Wang, Yi-Tao

2014-06-13

In recent years, China has experienced tremendous growth in its pharmaceutical industry. Both the Chinese government and private investors are motivated to invest into pharmaceutical research and development (R&D). However, studies regarding the different behaviors of public and private investment in pharmaceutical R&D are scarce. Therefore, this paper aims to investigate the current situation of public funding and private investment into Chinese pharmaceutical R&D. The primary data used in the research were obtained from the China High-tech Industry Statistics Yearbook (2002-2012) and China Statistical Yearbook of Science and Technology (2002-2012). We analyzed public funding and private investment in five aspects: total investment in the industry, funding sources of the whole industry, differences between provinces, difference in subsectors, and private equity/venture capital investment. The vast majority of R&D investment was from private sources. There is a significantly positive correlation between public funding and private investment in different provinces of China. However, public funding was likely to be invested into less developed provinces with abundant natural herbal resources. Compared with the chemical medicine subsector, traditional Chinese medicine and biopharmaceutical subsectors obtained more public funding. Further, the effect of the government was focused on private equity and venture capital investment although private fund is the mainstream of this type of investment. Public funding and private investment play different but complementary roles in pharmaceutical R&D in China. While being less than private investment, public funding shows its significance in R&D investment. With rapid growth of the industry, the pharmaceutical R&D investment in China is expected to increase steadily from both public and private sources.

26 CFR 12.3 - Investment credit, public utility property elections.

Science.gov (United States)

2010-04-01

... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Investment credit, public utility property... Investment credit, public utility property elections. (a) Elections—(1) In general. Under section 46(e), three elections may be made on or before March 9, 1972, with respect to section 46(e) property (as...

Transport Emissions and Energy Consumption Impacts of Private Capital Investment in Public Transport

Directory of Open Access Journals (Sweden)

Yunqiang Xue

2017-10-01

Full Text Available Introducing private capital into the public transport system for its sustainable development has been increasing around the world. However, previous research ignores emissions and energy consumption impacts, which are important for private capital investment policy-making. To address this problem, the system dynamic (SD approach was used to quantitatively analyze the cumulative effects of different private capital investment models in public transport from the environmental perspective. The SD model validity was verified in the case study of Jinan public traffic. Simulation results show that the fuel consumption and emission reductions are obvious when the private capital considering passenger value invests in public transport compared with the no private capital investment and traditional investment models. There are obvious cumulative reductions for fuel consumption, CO2, CO, SO2, and PM10 emissions for 100 months compared with no private capital investment. This research verifies the superiority of the passenger value investment model in public transport from the environmental point of view, and supplies a theoretical tool for administrators to evaluate the private capital investment effects systematically.

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

Science.gov (United States)

2012-02-06

...-0009] RIN 2132-AB02 Major Capital Investment Projects (NPRM); Public Meetings AGENCY: Federal Transit... Capital Investments program (``New Starts'' and ``Small Starts''). During these sessions, FTA staff will... amend the regulations for Major Capital Investment Projects at 49 CFR 611. The docket for comments on...

Public and Private Investment and Economic Growth in Namibia ...

African Journals Online (AJOL)

development strategy that started in the early 1970's, Namibia public enterprises ...... Estimating the Contribution of Urban Public Infrastructure to ... Ramirez, M. D. (1996), ―Public and Private Investment in Mexico and Chile: An Empirical Test.

Public funding and private investment for R&D: a survey in China’s pharmaceutical industry

Science.gov (United States)

2014-01-01

Background In recent years, China has experienced tremendous growth in its pharmaceutical industry. Both the Chinese government and private investors are motivated to invest into pharmaceutical research and development (R&D). However, studies regarding the different behaviors of public and private investment in pharmaceutical R&D are scarce. Therefore, this paper aims to investigate the current situation of public funding and private investment into Chinese pharmaceutical R&D. Methods The primary data used in the research were obtained from the China High-tech Industry Statistics Yearbook (2002–2012) and China Statistical Yearbook of Science and Technology (2002–2012). We analyzed public funding and private investment in five aspects: total investment in the industry, funding sources of the whole industry, differences between provinces, difference in subsectors, and private equity/venture capital investment. Results The vast majority of R&D investment was from private sources. There is a significantly positive correlation between public funding and private investment in different provinces of China. However, public funding was likely to be invested into less developed provinces with abundant natural herbal resources. Compared with the chemical medicine subsector, traditional Chinese medicine and biopharmaceutical subsectors obtained more public funding. Further, the effect of the government was focused on private equity and venture capital investment although private fund is the mainstream of this type of investment. Conclusions Public funding and private investment play different but complementary roles in pharmaceutical R&D in China. While being less than private investment, public funding shows its significance in R&D investment. With rapid growth of the industry, the pharmaceutical R&D investment in China is expected to increase steadily from both public and private sources. PMID:24925505

Non-Fixed Investment in Voluntary Public Goods Games

Science.gov (United States)

Wang, Shuai; Xu, Zhaojin; Zhang, Lianzhong

2018-05-01

In this work, we introduce a non-fixed investment ratio to the public goods games in which players can determine whether or not to participate and how much money to invest into the common pool, and with it a new mechanism has been established. We explicitly demonstrate a different rockscissors- paper dynamics which is a consequence of this model. Meanwhile, it is shown how the mechanism of non-fixed investment ratio influences the players' decision. In addition, we found that the length of memory has an important effect on the average payoff of the population by this introduction.

Managing Uncertainty and Risk in Public-sector Investments

Science.gov (United States)

2007-04-30

private sector, Capital Asset Pricing Models ( CAPM ) models provide valuation tools, of which the Black-Scholes equation is the most well known and...maximized mean of discounted cash flows on the assumption that the risk to underlying investment options can be replicated by assets in a financial... assumptions seldom apply for large-scale infra-modernization programs, in either the public or the private sector. In addition, NPV investment is

Protecting policy space for public health nutrition in an era of international investment agreements.

Science.gov (United States)

Thow, Anne Marie; McGrady, Benn

2014-02-01

Philip Morris has recently brought claims against Australia (2011) and Uruguay (2010) under international investment agreements (IIAs). The claims allege that Philip Morris is entitled to compensation following the introduction of innovative tobacco packaging regulations to reduce smoking and prevent noncommunicable diseases (NCDs). Since tobacco control measures are often viewed as a model for public health nutrition measures, the claims raise the question of how investment law governs the latter. This paper begins to answer this question and to explain how governments can proactively protect policy space for public health nutrition in an era of expanding IIAs. The authors first consider the main interventions proposed to reduce diet-related NCDs and their intersection with investment in the food supply chain. They then review the nature of investment regimes and relevant case law and examine ways to maximize policy space for public health nutrition intervention within this legal context. As foreign investment increases across the food-chain and more global recommendations discouraging the consumption of unhealthful products are issued, investment law will increase in importance as part of the legal architecture governing the food supply. The implications of investment law for public health nutrition measures depend on various factors: the measures themselves, the terms of the applicable agreements, the conditions surrounding the foreign investment and the policies governing agricultural support. This analysis suggests that governments should adopt proactive measures--e.g. the clarification of terms and reliance on exceptions--to manage investment and protect their regulatory autonomy with respect to public health nutrition.

Energy investments facing market risk and public policies

International Nuclear Information System (INIS)

Bobtcheff, C.

2005-01-01

The Annual meeting of the Energy Economist Association, held on June 15, 2005, was about the issue of investments in the energy sector. How can companies decide to invest in a project when there are increasing uncertainties, including as to future public policies and to energy market trends? The various speakers at the meeting stressed the significance of describing and gauging the risks specific to each industry as well as the assumptions that decision-making tools available to companies rely on (net value theory updated and actual option theory, inter alia). (author)

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.

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

Images of eyes enhance investments in a real-life public good.

Directory of Open Access Journals (Sweden)

Damien Francey

Full Text Available A key issue in cooperation research is to determine the conditions under which individuals invest in a public good. Here, we tested whether cues of being watched increase investments in an anonymous public good situation in real life. We examined whether individuals would invest more by removing experimentally placed garbage (paper and plastic bottles from bus stop benches in Geneva in the presence of images of eyes compared to controls (images of flowers. We provided separate bins for each of both types of garbage to investigate whether individuals would deposit more items into the appropriate bin in the presence of eyes. The treatment had no effect on the likelihood that individuals present at the bus stop would remove garbage. However, those individuals that engaged in garbage clearing, and were thus likely affected by the treatment, invested more time to do so in the presence of eyes. Images of eyes had a direct effect on behaviour, rather than merely enhancing attention towards a symbolic sign requesting removal of garbage. These findings show that simple images of eyes can trigger reputational effects that significantly enhance on non-monetary investments in anonymous public goods under real life conditions. We discuss our results in the light of previous findings and suggest that human social behaviour may often be shaped by relatively simple and potentially unconscious mechanisms instead of very complex cognitive capacities.

Role of investment heterogeneity in the cooperation on spatial public goods game.

Science.gov (United States)

Yuan, Wu-Jie; Xia, Cheng-Yi

2014-01-01

Public cooperation plays a significant role in the survival and maintenance of biological species, to elucidate its origin thus becomes an interesting question from various disciplines. Through long-term development, the public goods game has proven to be a useful tool, where cooperator making contribution can beat again the free-rides. Differentiating from the traditional homogeneous investment, individual trend of making contribution is more likely affected by the investment level of his neighborhood. Based on this fact, we here investigate the impact of heterogeneous investment on public cooperation, where the investment sum is mapped to the proportion of cooperators determined by parameter α. Interestingly, we find, irrespective of interaction networks, that the increment of α (increment of heterogeneous investment) is beneficial for promoting cooperation and even guarantees the complete cooperation dominance under weak replication factor. While this promotion effect can be attributed to the formation of more robust cooperator clusters and shortening END period. Moreover, we find that this simple mechanism can change the potential interaction network, which results in the change of phase diagrams. We hope that our work may shed light on the understanding of the cooperative behavior in other social dilemmas.

Modelling Investment Attractiveness of a Public Joint Stock Company as the Basis of Managerial Decision Making

Directory of Open Access Journals (Sweden)

Brukhovetskaya Natalia E.

2014-01-01

Full Text Available The article analyses factors of influence upon investment attractiveness of a public joint stock company, which are factors by the sphere of origin. The article identifies the degree and direction of influence of the factors by the sphere of origin upon investment attractiveness of a public joint stock company; factors are divided into two groups, which could be regulated directly by society and which cannot be regulated. It justifies the necessity of modelling investment attractiveness of a public joint stock company under influence of the factors with the aim of managerial decision making of two groups of stakeholders: owners and managers, shareholders and investors. It conducts modelling of investment attractiveness of a public joint stock company using the decision tree method. It develops a decision matrix, on the basis of which the owners, managers, shareholders and investors can make decisions regarding directions of increase of investment attractiveness of a public joint stock company and expediency of initial or further investing into society development.

Public infrastructure investment: A bridge to productivity growth?

OpenAIRE

Jerome Levy Economics Institute of Bard College

1993-01-01

Table of Contents: Preface, by Dimitri B. Papadimitriou; Public Capital and Economic Growth, by David Alan Aschauer; New Federal Spending for Infrastructure: Should We Let This Genie Out of the Bottle?, by Douglas Holtz-Eakin. Abstract: This brief presents contrasting views on the effects of public infrastructure investment on private sector productivity. David Alan Aschauer states that the slower rate of productivity growth since the early 1970s-coupled with an aging population, the declinin...

Return on Investment in College Education. The Guardians Initiative: Reclaiming the Public Trust

Science.gov (United States)

Association of Governing Boards of Universities and Colleges, 2017

2017-01-01

"Return on Investment in College Education" is the second publication in a series of informational briefings developed as part of The Guardians Initiative: Reclaiming the Public Trust, an effort to educate and engage trustees as advocates on key issues in higher education. What is the return on investment (ROI) in college education?…

The applied value of public investments in biomedical research.

Science.gov (United States)

Li, Danielle; Azoulay, Pierre; Sampat, Bhaven N

2017-04-07

Scientists and policy-makers have long argued that public investments in science have practical applications. Using data on patents linked to U.S. National Institutes of Health (NIH) grants over a 27-year period, we provide a large-scale accounting of linkages between public research investments and subsequent patenting. We find that about 10% of NIH grants generate a patent directly but 30% generate articles that are subsequently cited by patents. Although policy-makers often focus on direct patenting by academic scientists, the bulk of the effect of NIH research on patenting appears to be indirect. We also find no systematic relationship between the "basic" versus "applied" research focus of a grant and its propensity to be cited by a patent. Copyright © 2017, American Association for the Advancement of Science.

Valuing the benefits of creek rehabilitation: building a business case for public investments in urban green infrastructure.

Science.gov (United States)

Mekala, Gayathri Devi; Jones, Roger N; MacDonald, Darla Hatton

2015-06-01

In an effort to increase the livability of its cities, public agencies in Australia are investing in green infrastructure to improve public health, reduce heat island effects and transition toward water sensitive urban design. In this paper, we present a simple and replicable approach to building a business case for green infrastructure. This approach requires much less time and resources compared to other methods for estimating the social and economic returns to society from such investments. It is a pragmatic, reasonably comprehensive approach that includes socio-demographic profile of potential users and catchment analysis to assess the economic value of community benefits of the investment. The approach has been applied to a case study area in the City of Brimbank, a western suburb of Greater Melbourne. We find that subject to a set of assumptions, a reasonable business case can be made. We estimate potential public benefits of avoided health costs of about AU$75,049 per annum and potential private benefits of AU$3.9 million. The project area is one of the most poorly serviced areas in the municipality in terms of quality open spaces and the potential beneficiaries are from relatively low income households with less than average health status and education levels. The values of cultural (recreational benefits, avoided health costs, and increased property values) and regulating (reduction in heat island effect and carbon sequestration) ecosystem services were quantified that can potentially offset annual maintenance costs.

Valuing the Benefits of Creek Rehabilitation: Building a Business Case for Public Investments in Urban Green Infrastructure

Science.gov (United States)

Mekala, Gayathri Devi; Jones, Roger N.; MacDonald, Darla Hatton

2015-06-01

In an effort to increase the livability of its cities, public agencies in Australia are investing in green infrastructure to improve public health, reduce heat island effects and transition toward water sensitive urban design. In this paper, we present a simple and replicable approach to building a business case for green infrastructure. This approach requires much less time and resources compared to other methods for estimating the social and economic returns to society from such investments. It is a pragmatic, reasonably comprehensive approach that includes socio-demographic profile of potential users and catchment analysis to assess the economic value of community benefits of the investment. The approach has been applied to a case study area in the City of Brimbank, a western suburb of Greater Melbourne. We find that subject to a set of assumptions, a reasonable business case can be made. We estimate potential public benefits of avoided health costs of about AU75,049 per annum and potential private benefits of AU3.9 million. The project area is one of the most poorly serviced areas in the municipality in terms of quality open spaces and the potential beneficiaries are from relatively low income households with less than average health status and education levels. The values of cultural (recreational benefits, avoided health costs, and increased property values) and regulating (reduction in heat island effect and carbon sequestration) ecosystem services were quantified that can potentially offset annual maintenance costs.

Rising Inequality and Intergenerational Mobility: The Role of Public Investments in Human Capital.

Science.gov (United States)

Aizer, Anna

2014-06-01

One consequence of the rise in inequality witnessed over the past 40 years is its potentially negative impact on intergenerational mobility if parents at the bottom of the income distribution invest significantly less in their children's human capital. I consider whether public investments in children can potentially offset the inequality of private investments. Specifically, examining changes in public spending in 25 Organization for Economic Co-operation and Development countries over the period 2000-2009, I find that increases in spending on health are most strongly associated with reductions in the importance of family background and declines in inequality in the production of child human capital as measured by the Program for International Student Assessment test scores among 15-year-olds. Public spending on family support, housing, and education are also moderately related. In contrast, increased spending on the elderly is associated with increases in the importance of parental background and inequality of child test scores. These results suggest that public investments in child human capital have the potential to offset the potentially negative impact of increasing income inequality on intergenerational mobility and inequality of the next generation. Further research firmly establishing a causal relationship is needed.

Rising Inequality and Intergenerational Mobility: The Role of Public Investments in Human Capital

Science.gov (United States)

Aizer, Anna

2014-01-01

One consequence of the rise in inequality witnessed over the past 40 years is its potentially negative impact on intergenerational mobility if parents at the bottom of the income distribution invest significantly less in their children's human capital. I consider whether public investments in children can potentially offset the inequality of private investments. Specifically, examining changes in public spending in 25 Organization for Economic Co-operation and Development countries over the period 2000–2009, I find that increases in spending on health are most strongly associated with reductions in the importance of family background and declines in inequality in the production of child human capital as measured by the Program for International Student Assessment test scores among 15-year-olds. Public spending on family support, housing, and education are also moderately related. In contrast, increased spending on the elderly is associated with increases in the importance of parental background and inequality of child test scores. These results suggest that public investments in child human capital have the potential to offset the potentially negative impact of increasing income inequality on intergenerational mobility and inequality of the next generation. Further research firmly establishing a causal relationship is needed. PMID:25419203

Return on research investments: personal good versus public good

Science.gov (United States)

Fox, P. A.

2017-12-01

For some time the outputs, i.e. what's produced, of publicly and privately funded research while necessary, are far from sufficient, when considering an overall return on (research) investment. At the present time products such as peer-reviewed papers, websites, data, and software are recognized by funders on timescales related to research awards and reporting. However, from a consumer perspective impact and value are determined at the time a product is discovered, accessed, assessed and used. As is often the case, the perspectives of producer and consumer communities can be distinct and not intersect at all. We contrast personal good, i.e. credit, reputation, with that of public good, e.g. interest, leverage, exploitation, and more. This presentation will elaborate on both the metaphorical and idealogical aspects of applying a "return on investment" frame for the topic of assessing "good".

Adaptive and bounded investment returns promote cooperation in spatial public goods games.

Directory of Open Access Journals (Sweden)

Xiaojie Chen

Full Text Available The public goods game is one of the most famous models for studying the evolution of cooperation in sizable groups. The multiplication factor in this game can characterize the investment return from the public good, which may be variable depending on the interactive environment in realistic situations. Instead of using the same universal value, here we consider that the multiplication factor in each group is updated based on the differences between the local and global interactive environments in the spatial public goods game, but meanwhile limited to within a certain range. We find that the adaptive and bounded investment returns can significantly promote cooperation. In particular, full cooperation can be achieved for high feedback strength when appropriate limitation is set for the investment return. Also, we show that the fraction of cooperators in the whole population can become larger if the lower and upper limits of the multiplication factor are increased. Furthermore, in comparison to the traditionally spatial public goods game where the multiplication factor in each group is identical and fixed, we find that cooperation can be better promoted if the multiplication factor is constrained to adjust between one and the group size in our model. Our results highlight the importance of the locally adaptive and bounded investment returns for the emergence and dominance of cooperative behavior in structured populations.

A dynamic-efficiency rationale for public investment in the health of young

DEFF Research Database (Denmark)

Andersen, Torben M.; Bhattacharya, Joydeep

2014-01-01

under dynamic efficiency and exogenous mortality even when private and public investments are perfect substitutes. If health investment reduces mortality risk but individuals do not internalize its effect on the life-annuity interest rate, the “Philipson-Becker effect” emerges; when the young are net...

ACCOUNTING INFORMATION – A BASIS FOR ACHIEVING THE DECISION FOR THE REALIZATION OF PUBLIC INVESTMENT PROJECT

Directory of Open Access Journals (Sweden)

2012-12-01

Full Text Available Accounting information plays a key role in the foundation process of public sector decisions. Financing budget deficits, treasury risk identification (availability risk, formation of tax claims, foundation of financial sustainability for public investment projects are just some examples of using accounting information in decision-making process of credit accountant. How can we use and process accounting information in the foundation of public investment projects? We will try to answer this question in the content of this paper. The revenues and expenses, as accounting information, are necessary for determining the actual financial net value and/or the actual economic net value. These indicators have decisive information power in accepting and / or rejecting public investment projects. In the current economic context, the importance of investments is major for at least three reasons: the first one is a highly circulated reason in the last 20 years: the increase of technology, the alignment of the technology used in the alignment of competitors from the European market and even worldwide; the second reason is linked to the support of economic growth in crisis conditions through a policy of major investments especially in the infrastructure sector; the third reason, which derives from the second one, is that of post-accession grant funds available for investment both in private and public sectors. The importance given to public investments is also revealed by the authorities' approach to establishing key areas of interventions under grant programs (with programs designed to both public and private environment designed exclusively to carry out public investment programs (for example the POS Transport. In this context, the present research is intended to be a documentary of the role that accounting information plays in decision-making process that precedes the development of an investment, especially as most major investments are made in the public

Power development- private investment and initiatives

International Nuclear Information System (INIS)

Gupta, B.P.

1995-01-01

In the context of paucity of resources with Central/State public sector companies and to bridge the gap between rapidly growing demand for electricity and supply, a policy to encourage greater investments by private enterprises in the power sector with the objective of mobilizing additional resources for capacity addition in power generation and distribution, had been formulated in 1991 and is currently under implementation. The policy also allows liberal capital structuring and an attractive return on investment

The impact of energy audits on energy efficiency investment of public owners. Evidence from Italy

International Nuclear Information System (INIS)

Barbetta, Gian Paolo; Canino, Paolo; Cima, Stefano

2015-01-01

Buildings are a promising area of energy savings, but a difference exists between actual and optimal investment in this field. The so called ‘information gap’ about the costs and benefits of energy-saving activities could explain the difference. Audit programs have been undertaken to overcome the ‘information gap’ but, surprisingly, most papers analyzing the impact of audits on the adoption of energy-saving measures use faulty methods that could provide biased results. In this paper we fill this gap of the energy literature. First, we introduce robust counterfactual methods to analyze the impact of energy-saving policies; second, we apply these methods to investigate the impact of the free-funding of audits on the energy-saving investments of local public administrations, a neglected area of investigation. As opposite to most of the literature, we cannot identify any statistically significant effect of the audits either on the number of energy-saving interventions or on the resources devoted to these activities by local public administrations. We believe that, in the field of public non-residential buildings, information is not sufficient to fostering public investments aimed at increasing energy efficiency. As a policy consequence, public resources should consider different tools, including those aimed at reducing the cost of investments. - Highlights: • Authors examining energy audits find positive effects, but use faulty methods. • We examine audits using un-biased methods of counterfactual analysis. • We use a unique set of data of audits in public non-residential facilities. • We cannot identify any effect of audits on energy-saving activities and investments. • In the field of public buildings, information is not enough to raising investments.

76 FR 81430 - Small Business Investment Companies-Early Stage SBICs; Public Webinars

Science.gov (United States)

2011-12-28

... SMALL BUSINESS ADMINISTRATION 13 CFR Part 107 Small Business Investment Companies--Early Stage SBICs; Public Webinars AGENCY: U.S. Small Business Administration. ACTION: Notice of public Webinars. SUMMARY: The U.S. Small Business Administration (SBA) announces that it is holding a series of public...

Privatization or Public Investment in Education? Research & Policy Brief

Science.gov (United States)

Adamson, Frank

2016-01-01

Policymakers worldwide are trying to figure how best to organize, govern, and support their education systems. They must manage multiple goals, such as workforce development, nurturing knowledgeable citizens, and ensuring educational opportunity. Some countries approach these issues with a public investment in teacher professionalization and a…

12 CFR 24.5 - Public welfare investment after-the-fact notice and prior approval procedures.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 1 2010-01-01 2010-01-01 false Public welfare investment after-the-fact notice and prior approval procedures. 24.5 Section 24.5 Banks and Banking COMPTROLLER OF THE CURRENCY... capital and surplus represented by the proposed investment and by the bank's aggregate outstanding public...

Assessing the full effects of public investment in space

NARCIS (Netherlands)

Clark, J.; Koopmans, C.C.; Hof, B.; Knee, P.; Lieshout, R.; Simmonds, P.; Wokke, F.

2014-01-01

Many space-related impact studies have been carried out in the past, but there is no conclusive, comprehensive evaluation of the economic and social effects of public investments in space. Such evaluations are not easy to perform, for several reasons: the space sector is not a recognised category in

ACCOUNTING INFORMATION - A BASIS FOR ACHIEVING THE DECISION FOR THE REALIZATION OF PUBLIC INVESTMENT PROJECT

OpenAIRE

Sarac Ionut Pavel

2012-01-01

Accounting information plays a key role in the foundation process of public sector decisions. Financing budget deficits, treasury risk identification (availability risk), formation of tax claims, foundation of financial sustainability for public investment projects are just some examples of using accounting information in decision-making process of credit accountant. How can we use and process accounting information in the foundation of public investment projects? We will try to answer this q...

Systems Science: A Good Investment for the Public's Health

Science.gov (United States)

Mabry, Patricia L.; Kaplan, Robert M.

2013-01-01

This supplement of "Health Education & Behavior" showcases the current state of the field of systems science applications in health promotion and public health. Behind this work lies a steady stream of public dollars at the federal level. This perspective details nearly a decade of investment by the National Institutes of…

Public investment and fiscal performance in the new EU member states

Czech Academy of Sciences Publication Activity Database

Hanousek, Jan; Kočenda, Evžen

2011-01-01

Roč. 32, č. 1 (2011), s. 43-71 ISSN 0143-5671 R&D Projects: GA ČR GA402/09/1595; GA MŠk LC542 Institutional research plan: CEZ:MSM0021620846 Keywords : public finance * public investment * economic freedom Subject RIV: AH - Economics Impact factor: 0.486, year: 2011

Investing in trust: nuclear regulators and the public

International Nuclear Information System (INIS)

2001-01-01

The workshop was held in Paris on the 29. November - 1. December 2000. Its objective was well captured in the title: Investing in Trust, Nuclear Regulators and the Public. The general public is concerned with the risks involved in the use of nuclear power, and has a legitimate desire for reliable and impartial information. It is important to convince the people that the regulatory body works for them and for their safety and is not promoting the use of nuclear energy or any other interests. A necessary condition for being trustworthy is to be well known, efficient channels are needed, a good information must be transferred to two directions, information must be easily available to the public are some important points developed in this workshop. (N.C.)

Intersystem return on investment in public mental health: Positive externality of public mental health expenditure for the jail system in the U.S.

Science.gov (United States)

Yoon, Jangho; Luck, Jeff

2016-12-01

This study examines the extent to which increased public mental health expenditures lead to a reduction in jail populations and computes the associated intersystem return on investment (ROI). We analyze unique panel data on 44 U.S. states and D.C. for years 2001-2009. To isolate the intersystem spillover effect, we exploit variations across states and over time within states in per capita public mental health expenditures and average daily jail inmates. Regression models control for a comprehensive set of determinants of jail incarcerations as well as unobserved determinants specific to state and year. Findings show a positive spillover benefit of increased public mental health spending on the jail system: a 10% increase in per capita public inpatient mental health expenditure on average leads to a 1.5% reduction in jail inmates. We also find that the positive intersystem externality of increased public inpatient mental health expenditure is greater when the level of community mental health spending is lower. Similarly, the intersystem spillover effect of community mental health expenditure is larger when inpatient mental health spending is lower. We compute that overall an extra dollar in public inpatient mental health expenditure by a state would yield an intersystem ROI of a quarter dollar for the jail system. There is significant cross-state variation in the intersystem ROI in both public inpatient and community mental health expenditures, and the ROI overall is greater for inpatient mental health spending than for community mental health spending. Copyright © 2016. Published by Elsevier Ltd.

Public – Private Partnership – a New Way to Attract Investments

OpenAIRE

Karlavičius, Linas Vytautas

2006-01-01

In recent years a marked increase in cooperation between public and private sectors is seen for the development a wide range of economic activities. Such Public – Private Partnership (PPP) arrangements were driven by the limitations in public funds to cover investment needs and also to increase the quality and efficiency of public services. Different aspects of PPP implementation are treated in the article. Considering risk, there are substantiated conditions for possibility to apply the prin...

Public-Private Investment Partnerships: Efficiency Estimation Methods

Directory of Open Access Journals (Sweden)

Aleksandr Valeryevich Trynov

2016-06-01

Full Text Available The article focuses on assessing the effectiveness of investment projects implemented on the principles of public-private partnership (PPP. This article puts forward the hypothesis that the inclusion of multiplicative economic effects will increase the attractiveness of public-private partnership projects, which in turn will contribute to the more efficient use of budgetary resources. The author proposed a methodological approach and methods of evaluating the economic efficiency of PPP projects. The author’s technique is based upon the synthesis of approaches to evaluation of the project implemented in the private and public sector and in contrast to the existing methods allows taking into account the indirect (multiplicative effect arising during the implementation of project. In the article, to estimate the multiplier effect, the model of regional economy — social accounting matrix (SAM was developed. The matrix is based on the data of the Sverdlovsk region for 2013. In the article, the genesis of the balance models of economic systems is presented. The evolution of balance models in the Russian (Soviet and foreign sources from their emergence up to now are observed. It is shown that SAM is widely used in the world for a wide range of applications, primarily to assess the impact on the regional economy of various exogenous factors. In order to clarify the estimates of multiplicative effects, the disaggregation of the account of the “industry” of the matrix of social accounts was carried out in accordance with the All-Russian Classifier of Types of Economic Activities (OKVED. This step allows to consider the particular characteristics of the industry of the estimated investment project. The method was tested on the example of evaluating the effectiveness of the construction of a toll road in the Sverdlovsk region. It is proved that due to the multiplier effect, the more capital-intensive version of the project may be more beneficial in

Effect of heterogeneous investments on the evolution of cooperation in spatial public goods game.

Science.gov (United States)

Huang, Keke; Wang, Tao; Cheng, Yuan; Zheng, Xiaoping

2015-01-01

Understanding the emergence of cooperation in spatial public goods game remains a grand challenge across disciplines. In most previous studies, it is assumed that the investments of all the cooperators are identical, and often equal to 1. However, it is worth mentioning that players are diverse and heterogeneous when choosing actions in the rapidly developing modern society and researchers have shown more interest to the heterogeneity of players recently. For modeling the heterogeneous players without loss of generality, it is assumed in this work that the investment of a cooperator is a random variable with uniform distribution, the mean value of which is equal to 1. The results of extensive numerical simulations convincingly indicate that heterogeneous investments can promote cooperation. Specifically, a large value of the variance of the random variable can decrease the two critical values for the result of behavioral evolution effectively. Moreover, the larger the variance is, the better the promotion effect will be. In addition, this article has discussed the impact of heterogeneous investments when the coevolution of both strategy and investment is taken into account. Comparing the promotion effect of coevolution of strategy and investment with that of strategy imitation only, we can conclude that the coevolution of strategy and investment decreases the asymptotic fraction of cooperators by weakening the heterogeneity of investments, which further demonstrates that heterogeneous investments can promote cooperation in spatial public goods game.

Randomly biased investments and the evolution of public goods on interdependent networks

Science.gov (United States)

Chen, Wei; Wu, Te; Li, Zhiwu; Wang, Long

2017-08-01

Deciding how to allocate resources between interdependent systems is significant to optimize efficiency. We study the effects of heterogeneous contribution, induced by such interdependency, on the evolution of cooperation, through implementing the public goods games on two-layer networks. The corresponding players on different layers try to share a fixed amount of resources as the initial investment properly. The symmetry breaking of investments between players located on different layers is able to either prevent investments from, or extract them out of the deadlock. Results show that a moderate investment heterogeneity is best favorable for the evolution of cooperation, and random allocation of investment bias suppresses the cooperators at a wide range of the investment bias and the enhancement effect. Further studies on time evolution with different initial strategy configurations show that the non-interdependent cooperators along the interface of interdependent cooperators also are an indispensable factor in facilitating cooperative behavior. Our main results are qualitatively unchanged even diversifying investment bias that is subject to uniform distribution. Our study may shed light on the understanding of the origin of cooperative behavior on interdependent networks.

International trade and investment law: a new framework for public health and the common good.

Science.gov (United States)

Delany, Louise; Signal, Louise; Thomson, George

2018-05-08

International trade and investment agreements can have positive outcomes, but also have negative consequences that affect global health and influence fundamental health determinants: poverty, inequality and the environment. This article proposes principles and strategies for designing future international law to attain health and common good objectives. Basic principles are needed for international trade and investment agreements that are consistent with the common good, public health, and human rights. These principles should reflect the importance of reducing inequalities, along with social and environmental sustainability. Economic growth should be recognised as a means to common good objectives, rather than an end in itself. Our favoured approach is both radical and comprehensive: we describe what this approach would include and outline the strategies for its implementation, the processes and capacity building necessary for its achievement, and related governance and corporate issues. The comprehensive approach includes significant changes to current models for trade and investment agreements, in particular (i) health, social and environmental objectives would be recognised as legitimate in their own right and implemented accordingly; (ii) changes to dispute-resolution processes, both state-to-state and investor-state; (iii) greater deference to international legal frameworks for health, environmental protection, and human rights; (iv) greater coherence across the international law framework; (v) limitations on investor privileges, and (vi) enforceable corporate responsibilities for contributing to health, environmental, human rights and other common good objectives. We also identify some limited changes that could be considered as an alternative to the proposed comprehensive approach. Future research is needed to develop a range of model treaties, and on the means by which such treaties and reforms might be achieved. Such research would focus also on

East-West European farm investment behaviour - The role of financial constraints and public support

Energy Technology Data Exchange (ETDEWEB)

Fertő, I.; Bakucs, Z.; Bojnec, S.; Latruffe, L.

2017-09-01

The article investigated farm investment behaviour among East (Hungarian and Slovenian) and West (French) European Union farms using individual farm accountancy panel data for the 2003-2008 period. Despite differences in farm structures, except for the presence of capital market imperfections evidenced in the East, farms’ investment behaviour was not substantially different. Farm gross investment was positively associated with real sales’ growth. In addition, it was positively associated with public investment subsidies which can mitigate capital market imperfections in the short-term. On the long run, the farm’s ability to successfully compete in the output market by selling produce and securing a sufficient cash flow for investment is crucial.

East-West European farm investment behaviour - The role of financial constraints and public support

International Nuclear Information System (INIS)

Fertő, I.; Bakucs, Z.; Bojnec, S.; Latruffe, L.

2017-01-01

The article investigated farm investment behaviour among East (Hungarian and Slovenian) and West (French) European Union farms using individual farm accountancy panel data for the 2003-2008 period. Despite differences in farm structures, except for the presence of capital market imperfections evidenced in the East, farms’ investment behaviour was not substantially different. Farm gross investment was positively associated with real sales’ growth. In addition, it was positively associated with public investment subsidies which can mitigate capital market imperfections in the short-term. On the long run, the farm’s ability to successfully compete in the output market by selling produce and securing a sufficient cash flow for investment is crucial.

12 CFR 24.6 - Examples of qualifying public welfare investments.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 1 2010-01-01 2010-01-01 false Examples of qualifying public welfare investments. 24.6 Section 24.6 Banks and Banking COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY... finance small businesses or small farms, including minority- and women-owned small businesses or small...

International investment agreements and public health: neutralizing a threat through treaty drafting.

Science.gov (United States)

Mercurio, Bryan

2014-07-01

The high profile investment claims filed by Philip Morris challenging Uruguayan and Australian measures that restrict advertising and logos on tobacco packaging awakened the public health community to the existence and potential detrimental impact of international investment agreements (IIAs). More recently, Eli Lilly challenged Canada's invalidation of a pharmaceutical patent under an IIA. All of the cases claim that the intellectual property rights of the investor were infringed. As a result of these cases, many commentators and activists view IIAs as a threat to public health and have lobbied against their inclusion in ongoing trade negotiations. This article does not argue against IIAs. Instead, it seeks to demonstrate how more sophisticated treaty drafting can neutralize the threat to public health. In this regard, the article seeks to engage members of the public health community as campaigners not against IIAs but as advocates of better treaty drafting to ensure that IIAs do not infringe upon the right of a nation to take non-discriminatory measures for the promotion and protection of the health of their populations.

Hidropower project implementation. Public investment priorities of Romanian Electricity Authority (RENEL)

International Nuclear Information System (INIS)

Bogdan Valeriu; Pencea, Doru

1994-01-01

RENEL manages more than 20 hydropower projects in various construction stages. Some of them are multipurpose projects designed for water supply, flood control and irrigation. The construction schedules and completion terms are prolonged for all of them due to insufficient investment funds. Priority in public investment for hydropower projects is necessary because it generates favorable effects for both local communities and national economy. Appropriate methodology and suitable criteria should be established in order to select the projects to be financed taking into account the large initial investments and long implementation terms. The national hydropower potential is around 40,000 GWh/year and the corresponding installed power would be 14,800 MW. At present, the power production capacity is 16,240 GWh/year and the installed hydropower is 5,880 MW. (authors)

Job-Sharing at the Greater Victoria Public Library.

Science.gov (United States)

Miller, Don

1978-01-01

Describes the problems associated with the management of part-time library employees and some solutions afforded by a job sharing arrangement in use at the Greater Victoria Public Library. This is a voluntary work arrangement, changing formerly full-time positions into multiple part-time positions. (JVP)

The Potential Return on Public Investment in Detecting Adverse Drug Effects.

Science.gov (United States)

Huybrechts, Krista F; Desai, Rishi J; Park, Moa; Gagne, Joshua J; Najafzadeh, Mehdi; Avorn, Jerry

2017-06-01

Many countries lack fully functional pharmacovigilance programs, and public budgets allocated to pharmacovigilance in industrialized countries remain low due to resource constraints and competing priorities. Using 3 case examples, we sought to estimate the public health and economic benefits resulting from public investment in active pharmacovigilance programs to detect adverse drug effects. We assessed 3 examples in which early signals of safety hazards were not adequately recognized, resulting in continued exposure of a large number of patients to these drugs when safer and effective alternative treatments were available. The drug examples studied were rofecoxib, cerivastatin, and troglitazone. Using an individual patient simulation model and the health care system perspective, we estimated the potential costs that could have been averted by early systematic detection of safety hazards through the implementation of active surveillance programs. We found that earlier drug withdrawal made possible by active safety surveillance would most likely have resulted in savings in direct medical costs of $773-$884 million for rofecoxib, $3-$10 million for cerivastatin, and $38-$63 million for troglitazone in the United States through the prevention of adverse events. By contrast, the yearly public investment in Food and Drug Administration initiated population-based pharmacovigilance activities in the United States is about $42.5 million at present. These examples illustrate a critical and economically justifiable role for active adverse effect surveillance in protecting the health of the public.

Are Sunshine Private Funds More Beneficial than Publicly Offered Funds to the Fund Managers in Their Investment Performance?

Institute of Scientific and Technical Information of China (English)

YAN Wu; XIONG Hang

2016-01-01

From the perspective of the comparison between the investment performances of the fund managers before and after investment transfer from publicly offered funds to sunshine private funds,we can better explore the influences of the two institutional environments on the investment performances of the fund managers.This paper conducts a comparative analysis of the fund managers,investment performances before and after their investment transfer with the help of a number of fund performance evaluation models.The results show that the overall investment ability of the fund managers have been improved significantly when they transfer from publicly offered funds to sunshine private funds.If decomposing the overall investment ability into time-choosing and stock-picking abilities,the improvement of the fund managers' overall investment ability is mainly reflected in the significant improvement of their time-choosing ability after the transfer,while their stock-picking ability would then decrease a little.At the same time,by studying the personal characteristics of the fund managers,it is found that those who had investment research experience can obtain better investment performances.

Efficiency improvement of the investment and innovation activities in the transport facility construction field with public-private partnership involvement

Science.gov (United States)

Shibayeva, Marina; Serebryakova, Yelena; Shalnev, Oleg

2017-10-01

Growing demand to increase the investment volume in modernization and development projects for transport infrastructure define the urgency of the current study. The amount of private sector investments in the field is insufficient to implement the projects for road construction due to their significant capital intensity and long payoff period. The implementation of social significant infrastructure projects on the principles of public-private partnership is one of the key strategic directions of growth for transport facilities. The authors come up with a concept and methodology for modeling the investment and innovation activity in the transport facility construction. Furthermore, there is developed a model to find the balance between public and private sector investments in implementing construction projects for transport infrastructure with involvement of PPP (further - public-private partnership). The suggested concepts aim to improve the efficiency rate of the investment and innovation activity in the field of transport facility construction on the basis of public and private sectors collaboration.

Prioritising health service innovation investments using public preferences: a discrete choice experiment.

Science.gov (United States)

Erdem, Seda; Thompson, Carl

2014-08-28

Prioritising scarce resources for investment in innovation by publically funded health systems is unavoidable. Many healthcare systems wish to foster transparency and accountability in the decisions they make by incorporating the public in decision-making processes. This paper presents a unique conceptual approach exploring the public's preferences for health service innovations by viewing healthcare innovations as 'bundles' of characteristics. This decompositional approach allows policy-makers to compare numerous competing health service innovations without repeatedly administering surveys for specific innovation choices. A Discrete Choice Experiment (DCE) was used to elicit preferences. Individuals chose from presented innovation options that they believe the UK National Health Service (NHS) should invest the most in. Innovations differed according to: (i) target population; (ii) target age; (iii) implementation time; (iv) uncertainty associated with their likely effects; (v) potential health benefits; and, (vi) cost to a taxpayer. This approach fosters multidimensional decision-making, rather than imposing a single decision criterion (e.g., cost, target age) in prioritisation. Choice data was then analysed using scale-adjusted Latent Class models to investigate variability in preferences and scale and valuations amongst respondents. Three latent classes with considerable heterogeneity in the preferences were present. Each latent class is composed of two consumer subgroups varying in the level of certainty in their choices. All groups preferred scientifically proven innovations, those with potential health benefits that cost less. There were, however, some important differences in their preferences for innovation investment choices: Class-1 (54%) prefers innovations benefitting adults and young people and does not prefer innovations targeting people with 'drug addiction' and 'obesity'. Class- 2 (34%) prefers innovations targeting 'cancer' patients only and has

The effects of public debt on foreign direct investment in South Africa (1983-2013: An empirical analysis

Directory of Open Access Journals (Sweden)

Mary Oyemowo Oche

2016-12-01

Full Text Available The political move in South Africa occurred against a setting of high government deficits. Efforts have been made over the years by the government to reduce fiscal deficit and inflation, liberalize the capital account and the financial system as well as reduce tariffs. The main objective of this study, therefore, is to empirically investigate the effect of public debt on foreign direct investment in South African for the period 1983 – 2013. The study employs a Vector Error Correction Model, which provides both the long run and short run relationships among the variables. The long run results indicate that the relationship between public debt and foreign direct investment, as well as interest rate and foreign direct investment, is positive and statistically significant, while there is an insignificant negative relationship between exchange rate and foreign direct investment. Based on the long run results, the study, thus, recommend that the level of public debt and interest rate should increase so that the level of foreign direct investment can increase in the country. However, the policy of depreciation of rand is considered inappropriate for the economy if the desire is to increase the level of foreign direct investment in the country

“Investments and public finance in a green, low carbon, economy”

International Nuclear Information System (INIS)

Carraro, Carlo; Favero, Alice; Massetti, Emanuele

2012-01-01

The paper evaluates the impacts on investments and public finance of a transition to a green, low carbon, economy induced by carbon taxation. Four global tax scenarios are examined using the integrated assessment model WITCH. Taxes are levied on all greenhouse gases (GHGs) and lead to global GHG concentrations equal to 680, 560, 500 and 460 ppm CO 2 -eq in 2100. Investments in the power sector increase with respect to the Reference scenario only with the two highest taxes. Investments in energy-related R and D increase in all tax scenarios, but they are a small fraction of GDP. Investments in oil upstream decline in all scenarios. As a result, total investments decline with respect to the Reference scenario. Carbon tax revenues are high in absolute terms and as share of GDP. With high carbon taxes, tax revenues follow a “carbon Laffer” curve. The model assumes that tax revenues are flawlessly recycled lump-sum into the economy. In all scenarios, the power sector becomes a net recipient of subsidies to support the absorption of GHGs. In some regions, with high carbon taxes, subsidies to GHG removal are higher than tax revenues at the end of the century. - Highlights: ► Costs, investments and tax revenues induced by carbon taxes are only loosely related. ► Investments in power generation increase only with stabilization targets below 550 ppm CO 2 -eq. ► The carbon taxes induce an overall contraction of investments. ► Tax revenues can be as high as 20% of GDP and follow a “carbon” Laffer curve. ► Subsidies for absorption of GHG may be higher than carbon taxes at the end of the century.

Association of market, mission, operational, and financial factors with hospitals' level of cash and security investments.

Science.gov (United States)

McCue, M J; Thompson, J M; Dodd-McCue, D

Using a resource dependency framework and financial theory, this study assessed the market, mission, operational, and financial factors associated with the level of cash and security investments in hospitals. We ranked hospitals in the study sample based on their cash and security investments as a percentage of total assets: hospitals in the high cash/security investment category were in the top 25th percentile of all hospitals; those in the low cash/security investment group were in the bottom 25th percentile. Findings indicate that high cash/security investment hospitals are under either public or private nonprofit ownership and have greater market share. They also serve more complex cases, offer more technology services, generate greater profits, incur a more stable patient revenue base, and maintain less debt.

The U.S. Public's Investment in Medical Research: An Evolving Social Contract.

Science.gov (United States)

Heinig, Stephen J; Dev, Anurupa; Bonham, Ann C

2016-01-01

Medical researchers and their institutions are operating under extraordinary financial stress. More than a decade after completion of the 5-year doubling of the National Institutes of Health budget, the medical research community must confront a significant loss in National Institutes of Health purchasing power and downward pressures in federal discretionary spending. In part, this trend results from a federal budget stalemate over the growth in entitlement programs, particularly spending on medical care. This article considers the changing nature of the federal investment in medical research and the potential for medical researchers and institutions conducting the full spectrum of research to improve health system performance and health equity. In our view, continued federal investments reflect an evolving social contract for research serving the public good; the term contract is used metaphorically to represent a figurative, implicit agreement between the scientific community and the public's representatives in government. Under this conceptual contract, the American people--who are ultimately the funders of research, research training and infrastructure--expect outcomes that lead to better health, security or other benefits. The evolving contract includes expectations for more accountability, transparency, sharing of results and resources, and better integration of research systems and cultures that used to take pride in boundaries and distinctions. We outline here some of the major movements of organizations realigning to social support, which are increasingly essential to sustain public investment in medical research. Copyright © 2016 Southern Society for Clinical Investigation. Published by Elsevier Inc. All rights reserved.

The use of fuzzy logic in coordinating investment projects in the public sector

Directory of Open Access Journals (Sweden)

Jože Benčina

2007-05-01

Full Text Available Politics and the professions often have different standpoints on development planning and investment decisions in the public sector. Opposing views, lack of understanding and an inability to accept compromises in the planning and execution of investments frequently cause deviations which ultimately reveal themselves in negativeeconomic consequences. Effective and successful planning and execution of investments in the public sector is one of the key development tasks in a state or local community. For this reason we have undertaken a detailed investigation of the issue with the goal of devising a tool in the form of a model of a system for supportin decision making. In order to make it easier for appraisers and decision makers to express their opinions in a natural and individual manner, we have introduced an appraisal with linguistic values through the use of fuzzy logic. The purpose of this article is to present the characteristics and structure of the fuzzy model for coordinating opinions, and the progress and results of its use in the case of two Slovenian municipalities.

THE INVESTMENT MODEL OF THE CONSTRUCTION OF PUBLIC OBJECTS

Directory of Open Access Journals (Sweden)

Reperger Šandor

2009-11-01

Full Text Available One of the possible models of the construction and use of sports objects, especi- ally indoor facilities (sports centres, halls, swimming pools, shooting alleys and others is the cooperation of the public and private sector, by the investment model of PPP (Pu- blic-Private Partnership. PPP (Public-Private Partnership construction is the new form of securing civil works, already known in the developed countries, in which the job of planning, construc- tion, functioning and financing is done by the private sector – in the scope of a precisely elaborated cooperation with the state. The state engages the private sector for the administering of the civil works. By public adverstisements and contests they will find the investors who accept the administe- ring of certain public works by themselves or with the help of project partners with their own resources (with 60-85% of bank loans, secure the conditions for conducting certain services (by using the objects, halls, etc until the expiration of the agreed deadline. The essence of PPP construction is the fact that an investor from the private sec- tor, chosen through a contest, realizes the project using its own means. The object beco- mes the property of the investor and it secures the regular functioning of the object with exclusive rights. The income from the functioning belongs to the investor, in return the costs of the functioning of the object, the upkeep, as well as the costs of the personnel and public utilities are the responsibility of the investor. The public use of the object is realised by the means that the authorised ministry and the partner from the contest in an agreement of the realization and functioning of the object accurately define the time of maintenance and the duration of the services on the behalf of social interest. From the time specified in the agreement the investor doesn’t charge precisely defined users for general and specific services. As Sebia, with all its

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...

Corruption, investments and contributions to public goods: experimental evidence from rural Liberia

NARCIS (Netherlands)

Beekman, G.; Bulte, E.H.; Nillesen, E.E.M.

2014-01-01

We analyze how corruption affects incentives to invest or contribute to public goods. We obtain a proxy for corruption among Liberian community leaders by keeping track of a flow of inputs associated with a development intervention, measuring these inputs before and after giving them in custody to

Short communication: East-West European farm investment behaviour - The role of financial constraints and public support

Directory of Open Access Journals (Sweden)

Imre Fertő

2017-04-01

Full Text Available The article investigated farm investment behaviour among East (Hungarian and Slovenian and West (French European Union farms using individual farm accountancy panel data for the 2003-2008 period. Despite differences in farm structures, except for the presence of capital market imperfections evidenced in the East, farms’ investment behaviour was not substantially different. Farm gross investment was positively associated with real sales’ growth. In addition, it was positively associated with public investment subsidies which can mitigate capital market imperfections in the short-term. On the long run, the farm’s ability to successfully compete in the output market by selling produce and securing a sufficient cash flow for investment is crucial.

43 CFR 29.11 - Investment.

Science.gov (United States)

2010-10-01

... 43 Public Lands: Interior 1 2010-10-01 2010-10-01 false Investment. 29.11 Section 29.11 Public... Investment. (a) The monies accumulated in the Fund shall be prudently invested in the following types of... investment advisor or custodian to the Fund, or their affiliates may be purchased or held by the Fund. (3...

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

Sovereign wealth funds – public investment vehicles, foreign policy element. Comparative evolution in the international context

Directory of Open Access Journals (Sweden)

Doina Drăniceanu

2014-09-01

Full Text Available Sovereign funds are an important actor occurring on international financial markets in the last decade, being, in fact, state controlled international investments. Generally, they are financed from foreign currency reserves of the emergent countries they are constituted in, being managed apart of the official reserves and used for external expansion; they are likely to be detrimental to certain strategic interests. As public financial vehicles, they own, endorse or manage public funds of some emergent countries, freely invested by them in a great number of assets, being seen as a foreign policy element.

Fiscal Sustainability, Public Investment, and Growth in Natural Resource-Rich, Low-Income Countries; The Case of Cameroon

OpenAIRE

Issouf Samaké; Priscilla S Muthoora; Bruno Versailles

2013-01-01

This paper assesses the implications of the use of oil revenue for public investment on growth and fiscal sustainability in Cameroon. We develop a dynamic stochastic general equilibrium model to analyze the effects of such investment on growth and on the path of key fiscal indicators, such as the non-oil primary deficit and public debt. Policy scenarios show that Cameroon’s large infrastructural needs and relatively low current debt levels could justify a temporary deviation from traditional ...

Investments, time preferences and public transfers paid to women.

Science.gov (United States)

Rubalcava, Luis; Teruel, Graciela; Thomas, Duncan

2009-04-01

The literature suggests men and women may have different preferences. This paper exploits a social experiment in which women in treatment households were given a large public cash transfer (PROGRESA). In an effort to disentangle the effect of additional income in the household from the effect of changing the distribution of income within the household, the impact of PROGRESA income on savings and investments decisions is compared with all other income sources (after taking into account participation in the program). Additional money in the hands of women is spent on small livestock (which are traditionally managed and cared for by women), improved nutrition and on child goods (particularly clothing). Among single headed households, PROGRESA income is not treated differently from other income. Direct evidence on inter-temporal preferences gathered in the Mexican Family Live Survey indicates that women are more patient than males when thinking about the future. Taken together, the results suggest that PROGRESA income results in a shift in the balance of power within households and women allocated more resources towards investments in the future.

Tax-Exempt Hospitals' Investments in Community Health and Local Public Health Spending: Patterns and Relationships.

Science.gov (United States)

Singh, Simone R; Young, Gary J

2017-12-01

To investigate whether tax-exempt hospitals' investments in community health are associated with patterns of governmental public health spending focusing specifically on the relationship between hospitals' community benefit expenditures and the spending patterns of local health departments (LHDs). We combined data on tax-exempt hospitals' community benefit spending with data on spending by the corresponding LHD that served the county in which a hospital was located. Data were available for 2 years, 2009 and 2013. Generalized linear regressions were estimated with indicators of hospital community benefit spending as the dependent variable and LHD spending as the key independent variable. Hospital community benefit spending was unrelated to how much local public health agencies spent, per capita, on public health in their communities. Patterns of local public health spending do not appear to impact the investments of tax-exempt hospitals in community health activities. Opportunities may, however, exist for a more active engagement between the public and private sector to ensure that the expenditures of all stakeholders involved in community health improvement efforts complement one another. © Health Research and Educational Trust.

Limiting the financial risks of electricity generation capital investments under carbon constraints: Applications and opportunities for public policies and private investments

Science.gov (United States)

Newcomer, Adam

Increasing demand for electricity and an aging fleet of generators are the principal drivers behind an increasing need for a large amount of capital investments in the US electric power sector in the near term. The decisions (or lack thereof) by firms, regulators and policy makers in response to this challenge have long lasting consequences, incur large economic and environmental risks, and must be made despite large uncertainties about the future operating and business environment. Capital investment decisions are complex: rates of return are not guaranteed; significant uncertainties about future environmental legislation and regulations exist at both the state and national levels---particularly about carbon dioxide emissions; there is an increasing number of shareholder mandates requiring public utilities to reduce their exposure to potentially large losses from stricter environmental regulations; and there are significant concerns about electricity and fuel price levels, supplies, and security. Large scale, low carbon electricity generation facilities using coal, such as integrated gasification combined cycle (IGCC) facilities coupled with carbon capture and sequestration (CCS) technologies, have been technically proven but are unprofitable in the current regulatory and business environment where there is no explicit or implicit price on carbon dioxide emissions. The paper examines two separate scenarios that are actively discussed by policy and decision makers at corporate, state and national levels: a future US electricity system where coal plays a role; and one where the role of coal is limited or nonexistent. The thesis intends to provide guidance for firms and policy makers and outline applications and opportunities for public policies and for private investment decisions to limit financial risks of electricity generation capital investments under carbon constraints.

Public Investment and Economic Growth in The European Union Member States

Directory of Open Access Journals (Sweden)

Liliana DONATH

2009-06-01

Full Text Available The issue of public investments becamea very challenging subject for public decisionmakerssince it incorporates the question of stateperformance, the quality of public finance and theireffects on growth. The quality of public finance is amultidimensional concept. It may be regarded asrepresenting all the arrangements and operationsregarding the financial politics that sustain themacroeconomic objectives, particularly the longtermeconomic growth. Financial policies atEuropean level highlight the fact that a concentrationof the public expenses in areas that stimulate theeconomic growth and a more efficient use of thepublic resources are key methods for sustainingthe economic growth. The empirical proofs seem tosupport the assumption according to which certaintypes of public expenses can supply incentivesand other can negatively influence the economicgrowth. The paper tries to reveal the effects ofcapital spending on economic growth (GDP percapita for the European Union member states.The GDP per capita and the capital expenses(functional classification of public expenses -“COFOG” have been obtained by consideringthe Eurostat statistics, the measurement unit forboth variables is Euro, while the period of analysisis of 7 years (2000-2006.

RETURN ON INVESTMENT OF PUBLIC SPENDING IN TOURISM POLICY AND INTERNATIONAL TOURISM GROWTH: A COMPARATIVE ANALYSIS BETWEEN COUNTRIES.

OpenAIRE

Karen Gardenia Ramos Higuera.

2017-01-01

The purpose of this study is to examine the relationship between the international tourism growth and public funding invested in the tourism policy by United States, Australia and Mexico. The research method is quantitative, based on country level data; an econometric statistical analysis was carried out, using simple linear regressions. This study found that the public investment in the tourism policy is strongly statistically related to (1) international tourist expenditure generated and (2...

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.

Return on investment of public health interventions: a systematic review.

Science.gov (United States)

Masters, Rebecca; Anwar, Elspeth; Collins, Brendan; Cookson, Richard; Capewell, Simon

2017-08-01

Public sector austerity measures in many high-income countries mean that public health budgets are reducing year on year. To help inform the potential impact of these proposed disinvestments in public health, we set out to determine the return on investment (ROI) from a range of existing public health interventions. We conducted systematic searches on all relevant databases (including MEDLINE; EMBASE; CINAHL; AMED; PubMed, Cochrane and Scopus) to identify studies that calculated a ROI or cost-benefit ratio (CBR) for public health interventions in high-income countries. We identified 2957 titles, and included 52 studies. The median ROI for public health interventions was 14.3 to 1, and median CBR was 8.3. The median ROI for all 29 local public health interventions was 4.1 to 1, and median CBR was 10.3. Even larger benefits were reported in 28 studies analysing nationwide public health interventions; the median ROI was 27.2, and median CBR was 17.5. This systematic review suggests that local and national public health interventions are highly cost-saving. Cuts to public health budgets in high income countries therefore represent a false economy, and are likely to generate billions of pounds of additional costs to health services and the wider economy. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://www.bmj.com/company/products-services/rights-and-licensing/.

Comparative study of the efficiency of public supports to investments in energy management in the European Union

International Nuclear Information System (INIS)

Scheuer, Stefan; Ballu, Matthieu; Di Stefano, Paolo

2013-01-01

This study proposes a detailed overview of public budgets invested by the different member States of the European Union via subsidy systems, loans or tax arrangements in order to support investments in energy efficiency in buildings. The author also studied results published for these public instruments in terms of energy savings, and proposed a comparison which takes the lifetime of these savings into account. The study is based on available official information. Thus, before presenting the obtained results, the author describes how data have been collected and harmonised, presents the comparative analysis and discusses the lifetime measurement issue

Human Resource Investment – a Step in the Development of Public Administration

Directory of Open Access Journals (Sweden)

Luminita Iordache

2015-05-01

Full Text Available Human capital development supposes important investments in the field of public administration and the assurance of the necessary conditions to provide some quality–services. This paper has as a starting point the statement of the German sociologist Max Weber according to which “a modern society can function efficiently by training and perfecting the experts within a bureaucracy.” Modern societies put into evidence new values of public administration such social responsibility and adaptability. By specializing human resources, we contribute to using them efficiently. The purpose of this paper is to analyse the degree of involvement of the public institutions in developing human capital and to focus on the role of the education of public administration in order to internally increase stability so that we resist the frequent changes which suppose the continuous adjustment to external conditions. Our aim is also to analyse the already-implemented programmes as well as the ongoing ones concerning the training and perfecting of the public servants.

12 CFR 703.18 - Grandfathered investments.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Grandfathered investments. 703.18 Section 703... INVESTMENT AND DEPOSIT ACTIVITIES § 703.18 Grandfathered investments. (a) Subject to safety and soundness... zero coupon security with a maturity greater than 10 years, if it purchased the investment: (1) Before...

Weak and Strong Compensation for the Prioritization of Public Investments: Multidimensional Analysis for Pools

Directory of Open Access Journals (Sweden)

Gianluigi De Mare

2015-12-01

Full Text Available Despite the economic crisis still heavily affecting most of Europe, a possible resumption can be found in the revitalization of public and private investments. These investments should be directed not only towards the strategic areas of infrastructures and production, but also to those which allow for a higher level of the quality of life (sports facilities, parks, etc.. In such cases, the need to balance the reasons of financial sustainability with environmental and social profiles is even more evident. Thus, multicriteria techniques, supporting complex assessments, should be implemented together with a monetary feasibility study (cost-benefit analysis. Multidimensional methods allow for the aggregation of different profiles into overall indicators. This study gives an account of how the application and comparison of multi-criteria approaches based on tools characterized by a higher or lower level of compensation between criteria can broaden the spectrum of analysis of the problems and lead to a more subtle logic of funding for public works and works of public utility, with a more current and mature sharing of profitability between private investors and users of community infrastructures.

Greater reproductive investment, but shorter lifespan, in agrosystem than in natural-habitat toads

Directory of Open Access Journals (Sweden)

Francisco Javier Zamora-Camacho

2017-09-01

Full Text Available Global amphibian decline is due to several factors: habitat loss, anthropization, pollution, emerging diseases, and global warming. Amphibians, with complex life cycles, are particularly susceptible to habitat alterations, and their survival may be impaired in anthropized habitats. Increased mortality is a well-known consequence of anthropization. Life-history theory predicts higher reproductive investment when mortality is increased. In this work, we compared age, body size, and different indicators of reproductive investment, as well as prey availability, in natterjack toads (Epidalea calamita from agrosystems and adjacent natural pine groves in Southwestern Spain. Mean age was lower in agrosystems than in pine groves, possibly as a consequence of increased mortality due to agrosystem environmental stressors. Remarkably, agrosystem toads were larger despite being younger, suggesting accelerated growth rate. Although we detected no differences in prey availability between habitats, artificial irrigation could shorten aestivation in agrosystems, thus increasing energy trade. Moreover, agrosystem toads exhibited increased indicators of reproductive investment. In the light of life-history theory, agrosystem toads might compensate for lesser reproductive events—due to shorter lives—with a higher reproductive investment in each attempt. Our results show that agrosystems may alter demography, which may have complex consequences on both individual fitness and population stability.

Real estate capitalization of Public Administration Institutions - a chance to stimulate investment and increase economic competitiveness

Directory of Open Access Journals (Sweden)

Ionut Constantin

2012-12-01

Full Text Available The divide in the development of the different European space regions, is exemplified by the different ability to attract investments between rural and urban areas. Urban areas usually assure to investors a broad availability of structures and services that rural areas cannot offer. Another limiting factor for rural areas is the difficulty the enterprises which want to localize their structures outside the urban area meet when they try to find information about the quantity and the quality of the available structures. This penalization affects also the unused real estates of the public administration institutions; these real estates could represent for the investors an important opportunity to improve area’s resources, meeting some forms of converging collaboration with the public administration institutions. POLYINVEST project aims at improving conditions for investment in the rural areas, directly tackling the development gap between the regions of the South East Europe and to develop an information system useful for those public administration institutions.

The economics of comparative effectiveness studies: societal and private perspectives and their implications for prioritizing public investments in comparative effectiveness research.

Science.gov (United States)

Meltzer, David; Basu, Anirban; Conti, Rena

2010-01-01

Comparative effectiveness research (CER) can provide valuable information for patients, providers and payers. These stakeholders differ in their incentives to invest in CER. To maximize benefits from public investments in CER, it is important to understand the value of CER from the perspectives of these stakeholders and how that affects their incentives to invest in CER. This article provides a conceptual framework for valuing CER, and illustrates the potential benefits of such studies from a number of perspectives using several case studies. We examine cases in which CER provides value by identifying when one treatment is consistently better than others, when different treatments are preferred for different subgroups, and when differences are small enough that decisions can be made based on price. We illustrate these findings using value-of-information techniques to assess the value of research, and by examining changes in pharmaceutical prices following publication of a comparative effectiveness study. Our results suggest that CER may have high societal value but limited private return to providers or payers. This suggests the importance of public efforts to promote the production of CER. We also conclude that value-of-information tools may help inform policy decisions about how much public funds to invest in CER and how to prioritize the use of available public funds for CER, in particular targeting public CER spending to areas where private incentives are low relative to social benefits.

The Impact of Public Spending on Regional Economic Dynamics

Directory of Open Access Journals (Sweden)

Henry Antonio Mendoza Tolosa

2014-01-01

Full Text Available The impact that public spending and investment have upon economic growth in the departments of Colombia is examined using the results of national accounts for the years 2000-2011. Figures for departmental production by activity, along with change over the period and information for the gross public capital are brought together to create a statistical model to assess effects. A data panel model is chosen to relate the existing differences between departments and compare the impact of spending and investment between departments using the available information. Results indicate that public spending and investment play an important role in departmental economic dynamic and that its effect is greater in larger and wealthier departments.

The "Buy One, Get One Free" Ethics of Investing Public and Philanthropic Funds in Health and Climate.

Science.gov (United States)

Zaidi, Ali A

2017-12-01

This article applies various ethical frameworks to inform decision making about investment in two specific goods-strengthening public health and stabilizing the global climate. I begin by outlining how these goods traditionally competed for common and constrained resources. I then discuss how this view of competition has been rendered more problematic by emerging and compelling ethical justifications for investment in both goods based on utilitarian, Rawlsian, and communitarian analyses. I conclude by showing that these goods no longer compete head-to-head in a zero-sum way. Changes in science, technology, and society mean that investment in either good has the potential to advance both goods-that is, the goods have become synergistic. As a result, the case for investing in both is better. © 2017 American Medical Association. All Rights Reserved.

Derisking Renewable Energy Investment. A Framework to Support Policymakers in Selecting Public Instruments to Promote Renewable Energy Investment in Developing Countries

Energy Technology Data Exchange (ETDEWEB)

Waissbein, Oliver; Glemarec, Yannick; Bayraktar, Hande; Schmidt, Tobias S.

2013-03-15

This report introduces an innovative framework to assist policymakers to quantitatively compare the impact of different public instruments to promote renewable energy. The report identifies the need to reduce the high financing costs for renewable energy in developing countries as an important task for policymakers acting today. The framework is structured in four stages: (i) risk environment, (ii) public instruments, (iii) levelised cost and (iv) evaluation. To illustrate how the framework can support decision-making in practice, the report presents findings from illustrative case studies in four developing countries. It then draws on these results to discuss possible directions for enhancing public interventions to scale-up renewable energy investment. UNDP is also releasing a financial tool for policymakers to accompany the framework. The financial tool is available for download on the UNDP website.

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...

76 FR 24860 - Request for Public Comments Concerning Regulatory Cooperation Between the United States and the...

Science.gov (United States)

2011-05-03

... key trading partners to promote free and open trade and investment while also protecting public health and safety, the environment, intellectual property, and consumers' rights. In our trade and investment relationship with the European Union, the main impediments to greater trade and investment--and more open...

Uranium enrichment capacity: public versus private ownership

International Nuclear Information System (INIS)

Fraser, J.T.

1977-01-01

Continual growth of conventional nuclear capacity requires an assured supply of enriched uranium and, hence, potential expansion of domestic uranium enrichment capacity. The question of ownership of new enrichment capacity, i.e., public or private, entails not only the social-opportunity costs of alternative investments but also technical parameters of uranium utilization and advanced reactor development. Inclusion of risk preferences in both the public and private sectors produces interesting results in terms of optimal investment strategies with respect to choice of technology and scale of investment. Utilization of a nuclear fuel cycle requirements process model allows explicit specification of production technology. Integration of process model output with a least-cost investment model permits flexibility in parametric analysis. Results indicate minimum incentive for Government subsidy of a private enrichment sector through 2000 given moderate to low nuclear growth assumptions. The long-run scenario, to 2020, exhibits potentially greater incentives for private enrichment investment

Public investment does not crowd out private supply of environmental goods on private land.

Science.gov (United States)

Duncan, David H; Kyle, Garreth; Morris, William K; Smith, F Patrick

2014-04-01

In landscapes where private land tenure is prevalent, public funds for ecological landscape restoration are sometimes spent subsidising the revegetation of cleared land, and the protection of remnant vegetation from livestock. However, the total area treated may be unclear because such projects are not always recorded, and landholders may undertake similar activities without subsidisation. In the absence of empirical data, in the state of Victoria, Australia, a reporting assumption has been employed that suggests that wholly privately funded sites match publicly subsidised sites on a hectare for hectare basis (a so-called "x2" assumption). Conversely, the "crowding out" theory of investment in public goods such as environmental benefits suggests that public investment may supplant private motivation. Using aerial photography we mapped the extent of revegetation, native vegetation fencing and restoration on 71 representative landholdings in rural south-eastern Australia. We interviewed each landholder and recorded the age and funding model of each site. Contrary to the local "x2" reporting assumption, about 75% of the total area of the 412 sites was from subsidised sites, and that proportion was far higher for the period after 1997. However, rather than displacing unsubsidised activity, our modelling showed that landholders who had recently been subsidised for a project were more likely to have subsequently completed unsubsidised work. This indicates that, at least in terms of medium-term economic impact, the large increase in public subsidies did not diminish privately funded activity, as might be expected according to the theory of crowding out. Copyright © 2014 Elsevier Ltd. All rights reserved.

Impact of public policy uncertainty on renewable energy investment: Wind power and the production tax credit

International Nuclear Information System (INIS)

Barradale, Merrill Jones

2010-01-01

It is generally understood that the pattern of repeated expiration and short-term renewal of the federal production tax credit (PTC) causes a boom-bust cycle in wind power plant investment in the US. This on-off pattern is detrimental to the wind industry, since ramp-up and ramp-down costs are high, and players are deterred from making long-term investments. It is often assumed that the severe downturn in investment during 'off' years implies that wind power is unviable without the PTC. This assumption turns out to be unsubstantiated: this paper demonstrates that it is not the absence of the PTC that causes the investment downturn during 'off' years, but rather the uncertainty over its return. Specifically, it is the dynamic of power purchase agreement (PPA) negotiations in the face of PTC renewal uncertainty that drives investment volatility. With contract negotiations prevalent in the renewable energy industry, this finding suggests that reducing uncertainty is a crucial component of effective renewable energy policy. The PTC as currently structured is not the only means, existing or potential, for encouraging wind power investment. Using data from a survey of energy professionals, various policy instruments are compared in terms of their perceived stability for supporting long-term investment. - Research highlights: →The case of wind energy investment in the face of PTC uncertainty provides an important study in how industry structure, and in particular the process of contract negotiations, can amplify the impact of public policy uncertainty on corporate investment. →The finding that contract negotiations in the face of uncertainty are sufficient in themselves to hinder investment implies that the assumption that investment downturns reflect unfavorable economics is unfounded. This assumption falsely discourages interest and investment in wind energy. →Policy stability should be added to the list of criteria explicitly considered in designing policy

Investment determinants of young and old Portuguese SMEs: A quantile approach

Directory of Open Access Journals (Sweden)

Sílvia Mendes

2014-10-01

Full Text Available Considering two samples of Portuguese SMEs: 582 young SMEs and 1654 old SMEs, using the two-step estimation method and quantile regressions, the empirical evidence allows us to conclude that the determinants of investment have a different impact on young and old SMEs, depending on a firm’ level of investment. In the framework of Acceleration Principle and Neoclassical Theories, the determinants are relevant in explaining the investment of young and old SMEs with high levels of investment. The Growth Domestic Product, as the investment determinant of Acceleration Principle Theory, has a greater impact on the investment of young SMEs with high levels of investment. Sales, as the investment determinant of Neoclassical Theory, have greater impact on the investment of old SMEs with high levels of investment. Cash flow, as the investment determinant of Free Cash Flow Theory, is important in explaining the investment of young and old SMEs with low levels of investment. However, cash flow has greater impact on the investment of young SMEs with low levels of investment. The empirical evidence obtained allows us to make suggestions for policy-makers and the owners/managers of Portuguese SMEs.

Regulatory Incentives and Disincentives for Utility Investments in Grid Modernization

Energy Technology Data Exchange (ETDEWEB)

Kihm, Steve [Seventhware, Madison, WI (United States); Beecher, Janice [Michigan State Univ., East Lansing, MI (United States). Inst. of Public Utilities; Lehr, Ronald L.

2017-05-31

Electric power is America's most capital-intensive industry, with more than $100 billion invested each year in energy infrastructure. Investment needs are likely to grow as electric utilities make power systems more reliable and resilient, deploy advanced digital technologies, and facilitate new services to meet some consumers' expectations for greater choice and control. But do current regulatory approaches provide the appropriate incentives for grid modernization investments? This report presents three perspectives: -Financial analyst Steve Kihm begins by explaining that any major investor-owned electric utility that wants to raise capital today can do so at a reasonable cost. The question is whether utility managers want to raise capital for grid modernization. Specifically, they look for investments that create the most value for their existing shareholders. In cases where grid modernization investments are not the best choice in terms of shareholder value, Kihm describes shareholder incentive mechanisms that regulators could consider to encourage such investments when they are in the public interest. -From an institutional perspective, Dr. Janice Beecher finds that the traditional rate-base/rate of return regulatory model provides powerful incentives for utilities to pursue investments, cost control, efficiency and even innovation, and it is well suited to the policy objectives of grid modernization. Prudence of grid modernization investments (fair returns) depends on careful evaluation of the specific asset, and any special incentives (bonus returns) should be used only if they promote economic efficiency consistent with the core goals of economic regulation. According to Beecher, realizing the promises of grid modernization depends on effective implementation of the traditional regulatory model and ratemaking tools to serve the public interest. -Conversely, former commissioner and clean energy consultant Ron Lehr says that rapid electric industry

FINANCING PRO-ECOLOGICAL INVESTMENTS BY PUBLIC FUNDS IN THE LUBUSKIE PROVINCE IN THE YEARS 2009-2013

Directory of Open Access Journals (Sweden)

Marcin SIKORA

2015-07-01

Full Text Available The article discusses the issue of financing pro-ecological investments by the public funds, basing on the example of Voivodeship Fund for Environmental Protection and Water Management in Zielona Góra in the years 2009-2013. It also defines the essence of the implementation of these investments by the regional business sector in terms of the regional development process. Furthermore, apart from providing the compilation of the basic information concerning ecological funds, focusing on the origin, division, and the rules of their functioning, the analysis of the volume of expenditure in the years 2009-2013 has also been performed in the form of individual instruments supporting pro-ecological investments of the business entities in the region of Lubuskie Province. The summary contains the conclusions and forecasts for the coming years.

Post-modern portfolio theory supports diversification in an investment portfolio to measure investment's performance

OpenAIRE

Rasiah, Devinaga

2012-01-01

This study looks at the Post-Modern Portfolio Theory that maintains greater diversification in an investment portfolio by using the alpha and the beta coefficient to measure investment performance. Post-Modern Portfolio Theory appreciates that investment risk should be tied to each investor's goals and the outcome of this goal did not symbolize economic of the financial risk. Post-Modern Portfolio Theory's downside measure generated a noticeable distinction between downside and upside volatil...

Public Investment and Output Performance: Evidence from Nigeria

Directory of Open Access Journals (Sweden)

Aregbeyen Omo

2016-05-01

Full Text Available This study examined the direct/indirect long-run relationships and dynamic interactions between public investment (PI and output performance in Nigeria using annual data spanning 1970-2010. A macro-econometric model derived from Keynes’ income-expenditure framework was employed. The model was disaggregated into demand and supply sides to trace the direct and indirect effects of PI on aggregate output. The direct supply side effect was assessed using the magnitude of PI multiplier coefficient, while the indirect effect of PI on the demand side was evaluated with marginal propensity to consume, accelerator coefficient and import multiplier. The results showed relatively less strong direct effect of PI on aggregate output, while the indirect effects were stronger with the import multiplier being the most pronounced. This is attributed to declining capital expenditure, poor implementation and low quality of PI projects due to widespread corruption. By and large, we concluded that PI exerted considerable influence on aggregate output.

PRODUCTIVITY AND LAND ENHANCING TECHNOLOGIES IN NORTHERN ETHIOPIA: HEALTH, PUBLIC INVESTMENTS, AND SEQUENTIAL ADOPTION

OpenAIRE

Ersado, Lire; Amacher, Gregory S.; Alwang, Jeffrey Roger

2003-01-01

The adoption of more efficient farming practices and technologies that enhance agricultural productivity and improve environmental sustainability is instrumental for achieving economic growth, food security and poverty alleviation in sub-Saharan Africa. Our research examines the interaction between public investments, community health, and adoption of productivity and land enhancing technologies by households in the northern Ethiopian state of Tigray. Agricultural technology adoption decision...

Investing in children's health: what are the economic benefits?

Science.gov (United States)

Belli, Paolo C.; Bustreo, Flavia; Preker, Alexander

2005-01-01

This paper argues that investing in children's health is a sound economic decision for governments to take, even if the moral justifications for such programmes are not considered. The paper also outlines dimensions that are often neglected when public investment decisions are taken. The conclusion that can be drawn from the literature studying the relationship between children's health and the economy is that children's health is a potentially valuable economic investment. The literature shows that making greater investments in children's health results in better educated and more productive adults, sets in motion favourable demographic changes, and shows that safeguarding health during childhood is more important than at any other age because poor health during children's early years is likely to permanently impair them over the course of their life. In addition, the literature confirms that more attention should be paid to poor health as a mechanism for the intergenerational transmission of poverty. Children born into poor families have poorer health as children, receive lower investments in human capital, and have poorer health as adults. As a result, they will earn lower wages as adults, which will affect the next generation of children who will thus be born into poorer families. PMID:16283055

PRIVATE MANUFACTURERS’ THRESHOLDS TO INVEST IN COMPARATIVE EFFECTIVENESS TRIALS

OpenAIRE

Basu, Anirban; Meltzer, David

2012-01-01

The recent rush of enthusiasm for public investment in comparative effectiveness research (CER) in the United States has focused attention on these public investments. However, little attention has been given to how changing public investment in CER may affect private manufacturers’ incentives for CER, which has long been a major source of CER. In this work, based on a simple revenue maximizing economic framework, we generate predictions on thresholds to invest in CER for a private manufactur...

CONSIDERATIONS ON THE METHODOLOGY FOR IDENTIFYING AND PRIORITIZING PUBLIC INVESTMENT PROJECTS IN ROMANIA

OpenAIRE

Tudor Nistorescu; Marilena Bogheanu

2012-01-01

The optimization of the investment project pipeline of public administration is a key issue for member states, including Romania, in the current European Union policy. Solving this problem depends largely on the establishment of an appropriate methodological framework for identifying and prioritizing projects and development programs. Based on the new requirements imposed by the European Commission for the next financial cycle 2014-2020, in this article we propose solutions for improving the ...

Multimodal route choice models of public transport passengers in the Greater Copenhagen Area

DEFF Research Database (Denmark)

Anderson, Marie Karen; Nielsen, Otto Anker; Prato, Carlo Giacomo

2014-01-01

Understanding route choice behavior is crucial to explain travelers’ preferences and to predict traffic flows under different scenarios. A growing body of literature has concentrated on public transport users without, however, concentrating on multimodal public transport networks because......,641 public transport users in the Greater Copenhagen Area.A two-stage approach consisting of choice set generation and route choice model estimation allowed uncovering the preferences of the users of this multimodal large-scale public transport network. The results illustrate the rates of substitution...... not only of the in-vehicle times for different public transport modes, but also of the other time components (e.g., access, walking, waiting, transfer) composing the door-to-door experience of using a multimodal public transport network, differentiating by trip length and purpose, and accounting...

FOREIGN DIRECT INVESTMENT: DIAGNOSIS AND PROPOSALS FOR A BRAZILIAN PUBLIC POLICY

Directory of Open Access Journals (Sweden)

Milton de Abreu Campanario

2011-01-01

Full Text Available The text is the part of public policy of a larger research project on Brazilian Outward ForeignDirect Investment - OFDI. The text analyses the viability to adopt policies to enhance FDI,particularly outward. Based on statistical data and on literature review, the policy agenda framesthe underling questions surrounding the theme. There is not yet a theoretical framework to dealwith emergent countries’ FDI and related policies. There exist strong evidences that capital flowsthrough FDI generate externalities in the following domains: macroeconomics, microeconomicsand foreign relations particularly in areas related to industrial organization and innovation. Thetheoretical proposition is that international capital flows are compatible to monetary stability,commercial openness, investment promotion and industrial innovation policies. A betterpositioning of national enterprises internationally may result in growing partnership within theforeign environment. Brazil has not a set of policies to deal with inward and outward BrazilianFDI flows. These policies do not necessarily jeopardize macroeconomic policy and the relatedmonetary and currency stabilization goals. It contends that FDI stimulus by means of publicpolicies may contribute not just to a better competitiveness and innovation of Brazilianenterprises, but also assure a balanced growing and economic structural change.

Comments on "Investing in All the People".

Science.gov (United States)

Sabot, R H

1992-01-01

Professor Summer's article on government spending for education in Pakistan is agreed with. This commentary also suggested that the conference should have included the Ministry of Finance so that there could be multisector agreement that there must be reallocation of public expenditure from the military for future investment in power plants and primary and secondary education systems. The goal would be to eliminate the gender gap in education and to invest in girls' education. Professor Summers argued that inadequate demand needed to be increased with an increased supply of schools. Gender bias was also evident worldwide in missing girls and higher female mortality. Pakistan has the highest sex ratio, which may not reflect a changes in practices among younger mothers. It was argued by Professor Summers that breaking the vicious cycle of high fertility, little or no education, low productivity, and higher mortality among women can be accomplished virtuously by increasing girl's educational levels. The investment in girls will be reaped in the home, marketplace, and in child welfare through changes in household behavior. Educating girls was considered more cost effective than investing in family planning programs. Additional suggestions are provided that improvement in quality of schooling is also important in improving the education of mothers and children and is interactive with mother's education and years of schooling of children. It is likely that if mothers are educated investment returns are greater when quality if enhanced. It would also hold true that investments in health care or in family planning would reap greater returns if mothers are educated. The figures for return on investment are given as over 20% with a doubling of resources over 3.5 years. Returns would be lower if quality is low or jobs are of low quality or if the returns do not appear for another generation. If returns are too low, the question is how this will affect political will. This

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.

Optimizing an Investment Solution in Conditions of Uncertainty and Risk as a Multicriterial Task

Directory of Open Access Journals (Sweden)

Kotsyuba Oleksiy S.

2017-10-01

Full Text Available The article is concerned with the methodology for optimizing investment decisions in conditions of uncertainty and risk. The subject area of the study relates, first of all, to real investment. The problem of modeling an optimal investment solution is considered to be a multicriterial task. Also, the constructive part of the publication is based on the position that the multicriteriality of objectives of investment projecting is the result, first, of the complex nature of the category of economic attractiveness (efficiency of real investment, and secondly, of the need to take into account the risk factor, which is a vector measure, in the preparation of an investment solution. An attempt has been made to develop an instrumentarium to optimize investment decisions in a situation of uncertainty and the risk it engenders, based on the use of roll-up of the local criteria. As a result of its implementation, a model has been proposed, which has the advantage that it takes into account, to a greater extent than is the case for standardized roll-up options, the contensive and formal features of the local (detailed criteria.

Do Older Investors Make Better Investment Decisions?

OpenAIRE

George M Korniotis; Alok Kumar

2011-01-01

This paper examines the investment decisions of older individual investors. We find that older and experienced investors are more likely to follow rules of thumb that reflect greater investment knowledge. However, older investors are less effective in applying their investment knowledge and exhibit worse investment skill, especially if they are less educated, earn lower income, and belong to minority racial/ethnic groups. Overall, the adverse effects of aging dominate the positive effects of ...

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

Sustainability as the key to prioritize investments in public infrastructures

International Nuclear Information System (INIS)

Pardo-Bosch, Francesc; Aguado, Antonio

2016-01-01

Infrastructure construction, one of the biggest driving forces of the economy nowadays, requires a huge analysis and clear transparency to decide what projects have to be executed with the few resources available. With the aim to provide the public administrations a tool with which they can make their decisions easier, the Sustainability Index of Infrastructure Projects (SIIP) has been defined, with a multi-criteria decision system called MIVES, in order to classify non-uniform investments. This index evaluates, in two inseparable stages, the contribution to the sustainable development of each infrastructure project, analyzing its social, environmental and economic impact. The result of the SIIP allows to decide the order with which projects will be prioritized. The case of study developed proves the adaptability and utility of this tool for the ordinary budget management.

Sustainability as the key to prioritize investments in public infrastructures

Energy Technology Data Exchange (ETDEWEB)

Pardo-Bosch, Francesc, E-mail: francesc.pardo@upc.edu [Departament d' Enginyeria Civil i Ambiental, Universitat Politècnica de Catalunya - Barcelona Tech. (Spain); Political Science Department, University of California - Berkeley (United States); Aguado, Antonio, E-mail: antonio.aguado@upc.edu [Departament d' Enginyeria Civil i Ambiental, Universitat Politècnica de Catalunya - Barcelona Tech. (Spain)

2016-09-15

Infrastructure construction, one of the biggest driving forces of the economy nowadays, requires a huge analysis and clear transparency to decide what projects have to be executed with the few resources available. With the aim to provide the public administrations a tool with which they can make their decisions easier, the Sustainability Index of Infrastructure Projects (SIIP) has been defined, with a multi-criteria decision system called MIVES, in order to classify non-uniform investments. This index evaluates, in two inseparable stages, the contribution to the sustainable development of each infrastructure project, analyzing its social, environmental and economic impact. The result of the SIIP allows to decide the order with which projects will be prioritized. The case of study developed proves the adaptability and utility of this tool for the ordinary budget management.

Investment Process in Territorial Government Sectors

Directory of Open Access Journals (Sweden)

Cleopatra Sendroiu

2006-10-01

Full Text Available The increase in the quality of the public administration act represents one of the major targets for the local authorities. From this point of view, the identification and implementation in the current practice of some methods, techniques and advanced working tools might have a significant impact.The investments’ programme as a tool accessible to local public authorities gains an increased legitimacy on the grounds of its civic consent; therefore, the external investors and other potential investors can take advantage of the community’s support in those projects they finance within region.The current framework of the investment activity in the local public sector is characterized by constraints within action, sometimes without continuity or precise targets. The declared urgency of a certain investment objective mostly turns out to be the selection and implementation criterion. In this present work there will be presented a few methods and ways in which town halls can realize public investments in the near future. The adoption of a specific proposal might lead to procedural and organizational modifications for the attainment of the maximum efficiency within the investment process.

STATE INVESTMENT IN SCIENCE AND SCIENTIFIC PRODUCTIVITY OF UNIVERSITIES

OpenAIRE

Domagoj Karacic; Ivan Miskulin; Hrvoje Serdarusic

2016-01-01

State investment in service activities of the public sector, as well as the financial returns analyzed from the aspect of service effectiveness and utilization of public goods, can be considered as one of the most significant dilemmas, especially in the field of education. When analyzing state investments, through investment in education and development of the university, we can conclude that state investments in scientific productivity of universities fall into one of the main future framewo...

Public-Private Partnership as an Institutional Instrument of Investment in the Country’s Economy

Directory of Open Access Journals (Sweden)

Dergachova Viktoriia V.

2018-01-01

Full Text Available The article is aimed at researching the world experience of efficient interaction between the public and private sectors, defining the main advantages of the implementation of public-private partnership (PPP relations, identifying problems in the legislative base on regulation of the PPP process in Ukraine. Introduction and formation of public-private partnership as an instrument of attraction of investment resources and interaction of public and private sectors are considered. It has been found that lack of financing and negative experience of privatization of the State property caused the introduction of the PPP institute in the world practice. However, there is no single unified approach to the regulation of relations in the sphere of PPP presently, which would meet the needs of all countries. In Ukraine, this mechanism is being implemented, but it is not a widespread practice because of terminological discrepancies and lack of a uniform procedure for providing the State support to the implementation of PPP. The advantages of the PPP implementation for the public and private sectors have been determined.

Assessing the economic impact of public investment in Malaysia: a case study on MyRapid Transit project using a dynamic computable general equilibrium model

OpenAIRE

Muniandy, Meenachi

2017-01-01

The central focus of this thesis is the question of whether public investment in transport infrastructure contributes positively to Malaysia’s economic growth and welfare. Although there are strong analytical reasons to believe that public investment spending is one of the important variables that influence growth, there remains significant uncertainty about its actual degree of influence. In Malaysia, whenever there is a collapse in domestic demand, government spending becomes an important m...

Promotion of cooperation induced by heterogeneity of both investment and payoff allocation in spatial public goods game

Science.gov (United States)

Fan, Ruguo; Zhang, Yingqing; Luo, Ming; Zhang, Hongjuan

2017-01-01

Heterogeneity has attracted mounting attention across multiple disciplines and is confirmed to be a greater promoter of cooperation. It is often the case that the heterogeneity always exists in investment and payoff allocation concurrently instead of separately. In addition, the factors that affect heterogeneous investment and payoff allocation are various. Inspired by this, this paper extends the previous models by incorporating heterogeneous investment and payoff allocation into the typical PGG model to further investigate the incentive mechanisms of cooperative behavior. In order to better understand the model, three different feedback mechanisms, namely the wealth-preference mechanism, the social-self-preference mechanism, and the mixed-preference mechanism, are addressed. The former two mechanisms correspond to the case of single factor and the latter corresponds to the case of double factors. The numerical simulations indicate that feedback mechanism by bridging the connections between the investment and the payoff allocation can reduce the free-rider problem. Furthermore, it is found that the cooperative frequency and average payoff perform better in the case of the mixed-preference mechanism where players will not only take previous payoff feedback as well as current investment but also their social status into their game decision-making process. In addition, full cooperation and profitability over all players can be promoted by means of increasing r or reducing α. At last, compared with another two classic networks, the extent of cooperation is promoted under the structures of the BA scale free networks.

REDUCING COSTS OF TAX COMPLIANCE AND INVESTMENTS IN PUBLIC SYSTEM OF DIGITAL BOOKKEEPING – SPED – IN BRAZIL

OpenAIRE

Edson Sampaio de Lima; Napoleão Verardi Galegale; Carlos Hideo Arima; Pedro Luiz Côrtes

2016-01-01

The Public System of Digital Bookkeeping – SPED was developed with the intention of further integration between the tax administrations themselves, then between them and the taxpayers, through the use of technology and, consequently, socioeconomic data standard, in a single environment, raising the tax collection efficiency and reducing the costs of administration and compliance. This article intends to contribute to the analysis of public investments directed to the establishment and mainten...

Capital Markets, Infrastructure Investment and Growth in the Asia Pacific Region

Directory of Open Access Journals (Sweden)

Michael Regan

2017-02-01

Full Text Available This paper examines the relationship between infrastructure investment activity, capital market development, the role of public institutions and economic development in the Asia Pacific. It adopts a review approach drawing on empirical evidence over recent decades. Infrastructure is shown to be an important asset class playing a central role in a nation’s output, growth, productivity and microeconomic performance. Infrastructure investment also requires investment and predictions of a widening gap in the future supply of infrastructure in the Asia Pacific will require new forms of capital from both traditional and new sources including wider use of private participation, institutional investment, asset recycling and revenue bonds. Capital market development is also necessary to raise long-term local currency finance and evidence suggests that progress with regional capital market integration is slow and a continuing reform agenda is required. The dividend for regional countries is the prospect of higher levels of economic growth with infrastructure investment, capital market development, and foreign direct investment shown to have a strong and positive association with growth. A crucial link in this association identified in the review is the part played by national and regional institutions in improving the efficiency with which infrastructure is managed and providing promising ground for further research where the importance of these links can be researched in greater depth.

[Are investment activity and backlog in investments risks for university medicine in Germany?].

Science.gov (United States)

Amann, I; Heyder, R; Strehl, R

2009-08-01

University medicine in Germany requires significantly higher funding and investment because its tasks not only include health care but also research and teaching. However, over recent decades less and less funding compared to the development of the turnover has been available. This trend is due to decreasing public funding. The diminishing funding has caused a major backlog of investment at German university hospitals. The first part of the article summarizes the investments policies at university hospitals and other hospitals. The second part describes the investment needs in university medicine and exposes risk factors for research, education and health care due to the process of investment planning and realization. Goal-oriented solutions are shown to facilitate investments. The third part discusses several risks caused by insufficient investments in university medicine. There are special risks for research, teaching, and the capacity for innovation in university medicine besides economical and medical risks. Some policies and financial strategies to overcome the backlog in investments are presented. After a summary, the article concludes with some practical examples of further measures to ensure sustainable funding.

Social Investment or Private Profit? Diverging Notions of "Investment" in Early Childhood Education and Care

Science.gov (United States)

Adamson, Elizabeth; Brennan, Deborah

2014-01-01

In recent decades, many OECD countries have adopted the notion of "social investment" to reframe traditional approaches to social welfare. Social investment strategies and policies focus on employment rather than welfare and promote public expenditure on skills and education throughout the life course, starting with early childhood…

The Relationship Between Oil and Gas Industry Investment in Alternative Energy and Corporate Social Responsibility

Science.gov (United States)

Konyushikhin, Maxim

The U.S. Energy Information Administration forecasted energy consumption in the United States to increase approximately 19% between 2006 and 2030, or about 0.7% annually. The research problem addressed in this study was that the oil and gas industry's interest in alternative energy is contrary to its current business objectives and profit goals. The purpose of the quantitative study was to explore the relationship between oil and gas industry investments in alternative energy and corporate social responsibilities. Research questions addressed the relationship between alternative energy investment and corporate social responsibility, the role of oil and gas companies in alternative energy investment, and why these companies chose to invest in alternative energy sources. Systems theory was the conceptual framework, and data were collected from a sample of 25 companies drawn from the 28,000 companies in the oil and gas industry from 2004 to 2009. Multiple regression and correlation analysis were used to answer the research questions and test hypotheses using corporate financial data and company profiles related to alternative energy investment and corporate social responsibility in terms of oil and gas industry financial support of programs that serve the greater social good. Results indicated significant relationships between alternative energy investment and corporate social responsibility. With an increasing global population with energy requirements in excess of what is available using traditional means, the industry should increase investment in alternative sources. The research results may promote positive social change by increasing public awareness regarding the degree to which oil and gas companies invest in developing alternative energy sources, which might, in turn, inspire public pressure on companies in the oil and gas industry to pursue use of alternative energy.

REDUCING COSTS OF TAX COMPLIANCE AND INVESTMENTS IN PUBLIC SYSTEM OF DIGITAL BOOKKEEPING – SPED – IN BRAZIL

Directory of Open Access Journals (Sweden)

Edson Sampaio de Lima

2016-04-01

Full Text Available The Public System of Digital Bookkeeping – SPED was developed with the intention of further integration between the tax administrations themselves, then between them and the taxpayers, through the use of technology and, consequently, socioeconomic data standard, in a single environment, raising the tax collection efficiency and reducing the costs of administration and compliance. This article intends to contribute to the analysis of public investments directed to the establishment and maintenance of the project, effectively resulted in a reduction in the costs of tax compliance, temporary and permanent. Survey method was used as a non-random mechanism for data collection, with a developed questionnaire containing 22 questions based on the prediction model regulatory impact developed and applied by the Australian Taxation Office – ATO in your country, adapted to identify cost reduction compliance related to three specific organizational aspects: People, Technology and Procurement of Consulting Services. The questionnaire was emailed to 20 people with executive position or managers directly involved in the project in SPED size businesses and distinct segment. Responded to the survey 20 of the 20 companies. The data collected were analyzed through descriptive and exploratory, in the latter case using the cluster analysis. The survey approach has met both the qualitative and the quantitative research. The results indicate that the SPED caused an increase in compliance costs temporary and permanent, mainly due to the implementation strategy defined and applied solely by the public administration. The analysis also allowed evidence that even if public investments directed to the implementation and maintenance of SPED are not comparatively similar to private investments directed to the same end, it shows a tendency to shift costs of administration for compliance costs for taxpayers.

National investment programs and sustainable development

OpenAIRE

Szyja, Paulina

2014-01-01

In situation of economic crisis many countries, for example the United States, members of European Union prepared anti-crisis programs to conduct investments. In most cases, they concentrated on modernization of transport or energy infrastructure. In Poland it would have been presented program "Polish Investments". The main purposes of the article is presentation of public investments programs and their role in sustainable development.

Energy price uncertainty, energy intensity and firm investment

International Nuclear Information System (INIS)

Yoon, Kyung Hwan; Ratti, Ronald A.

2011-01-01

This paper examines the effect of energy price uncertainty on firm-level investment. An error correction model of capital stock adjustment is estimated with data on U.S. manufacturing firms. Higher energy price uncertainty is found to make firms more cautious by reducing the responsiveness of investment to sales growth. The result is robust to consideration of energy intensity by industry. The effect is greater for high growth firms. It must be emphasized that the direct effect of uncertainty is not estimated. Conditional variance of energy price is obtained from a GARCH model. Findings suggest that stability in energy prices would be conducive to greater stability in firm-level investment. (author)

[Investing in health: the economic case. Report of the WISH Investing in Health Forum 2016].

Science.gov (United States)

Yamey, Gavin; Beyeler, Naomi; Wadge, Hester; Jamison, Dean

2017-01-01

Developing country governments and aid agencies face difficult decisions on how best to allocate their finite resources. Investments in many different sectors -including education, water and sanitation, transportation, and health- can all reap social and economic benefits. This report focuses specifically on the health sector. It presents compelling evidence of the value of scaling-up health investments. The economic case for increasing these investments in health has never been stronger. Having made progress in reducing maternal and child mortality, and deaths from infectious diseases, it is essential that policymakers do not become complacent. These gains will be quickly reversed without sustained health investments. Scaled-up investments will be needed to tackle the emerging non-communicable disease (NCD) burden and to achieve universal health coverage (UHC). The value of investment in health far beyond its performance is reflected in economic prosperity through gross domestic product (GDP). People put a high monetary value on the additional years of life that health investments can bring -an inherent value to being alive for longer, unrelated to productivity. Policymakers need to do more to ensure that spending on health reflects people's priorities. To make sure services are accessible to all, governments have a clear role to play in financing health. Without public financing, there will be some who cannot afford the care they need, and they will be forced to choose sickness -perhaps even death- and financial ruin; a devastating choice that already pushes 150 million people into poverty every year. In low-income countries (LICs) and middle-income countries (MICs), public financing should be used to achieve universal coverage with a package of highly cost-effective interventions ('best buys'). Governments failing to protect the health and wealth of their people in this way will be unable to reap the benefits of long-term economic prosperity and growth. Public

FINANCING RENEWABLE ENERGY SOURCES INVESTMENT IN POLAND

Directory of Open Access Journals (Sweden)

Jerzy Piotr Gwizdała

2017-09-01

Full Text Available In Poland, as in other European Union countries, the project finance structure is used to finance investments in the field of energy. This method investment financing is often used in the world. The upward trend inhibition in recent periods has been due to the global financial crisis and financial instability in the euro zone. On account of the necessity to develop the energy infrastructure associated with renewable sources, the considerable strengthening in the use of project finance techniques can be expected. The particular progression may be observed in the case of public-private partnership (ppp, where public investments are carried out by private companies. Companies, in case of investment realization in the field of ppp, almost always use project finance, because it is a beneficial way to separate the risks associated with an investment from the balance sheet of the compa-ny.

Mechanisms underlying major investment projects in the Romanian public administration: strong and long term collaboration among stakeholders

Directory of Open Access Journals (Sweden)

Tănăsescu Laurian Gabriel

2017-07-01

Full Text Available Starting from the existing situation, in order to understand the mechanisms underlying investment projects financed from public funds in Romania, we analysed the following public sources of information: For projects implemented before 2007, we analysed data available on the Internet, including databases of international donors such as www.dgmarket.com, http://www.ted.europa.eu/, etc. We analysed data made available by the Public Procurement Electronic System through the portal http://data.gov.ro. The data set analysed includes over 8 million awarding contract notices. For the EU funded projects, we requested the Ministry of European Funds to offer us access to the relevant database (SMIS, which includes all the projects financed under the European funding programme 2007 – 2013 (projects implemented before 31.12.2015. Comparing data from all these sources leads to the conclusion that the information is coherent and represents a credible basis for our analysis. We found that 48% of all investment projects implemented in Romania in 2007 – 2016 and co-funded under European funds (in terms of the share of eligible expenses requested outsourcing services for the preparation of the project documentation needed to apply for funds; such expenses represent almost 3 % of the total eligible project expenses approved. Almost 36% (in terms of the share of eligible expenses of all investment projects implemented in Romania in 2007 – 2016 and co-funded under European funds, revealed a strong and long term relationship between the company that participates in the elaboration of the grant application and the beneficiary of funds. This collaboration continued throughout the implementation of the project. These companies delivered services / supplied goods / carried out construction works whose value exceeds 15 billion lei, which represents over 54% of the total eligible costs of the respective projects.

Investment behavior, observable expectations, and internal funds

OpenAIRE

Jason G. Cummins; Kevin A. Hassett; Stephen D. Oliner

1999-01-01

We use earnings forecasts from securities analysts to construct more accurate measures of the fundamentals that affect the expected returns to investment. We find that investment responds significantly -- in both economic and statistical terms -- to our new measures of fundamentals. Our estimates imply that the elasticity of the investment-capital ratio with respect to a change in fundamentals is generally greater than unity. In addition, we find that internal funds are uncorrelated with inve...

Healthcare investment and income inequality.

Science.gov (United States)

Bhattacharjee, Ayona; Shin, Jong Kook; Subramanian, Chetan; Swaminathan, Shailender

2017-12-01

This paper examines how the relative shares of public and private health expenditures impact income inequality. We study a two period overlapping generation's growth model in which longevity is determined by both private and public health expenditure and human capital is the engine of growth. Increased investment in health, reduces mortality, raises return to education and affects income inequality. In such a framework we show that the cross-section earnings inequality is non-decreasing in the private share of health expenditure. We test this prediction empirically using a variable that proxies for the relative intensity of investments (private versus public) using vaccination data from the National Sample Survey Organization for 76 regions in India in the year 1986-87. We link this with region-specific expenditure inequality data for the period 1987-2012. Our empirical findings, though focused on a specific health investment (vaccines), suggest that an increase in the share of the privately provided health care results in higher inequality. Copyright © 2017 Elsevier B.V. All rights reserved.

Three Essays in the Public Economics of Offshore Hydrocarbon Investment and Production

Science.gov (United States)

Kearney, Owen P.

Offshore sources, in both shallow and deep waters, are increasingly important contributors to global oil and natural gas production. As both resource owner and taxing authority, national governments play an important role in the production of these offshore hydrocarbons. How the policy choices of these governments affect firm behavior, however, is not necessarily well understood. This dissertation contributes to our knowledge of how public policy influences offshore hydrocarbon investment and production. In the first essay, I estimate the investment responses of hydrocarbon producers to the suspension of the royalty, a type of production tax levied on production from federal lands. I find that the potential for a royalty payments waiver: (1) increases the probability that an individual tract is acquired by an average of 193% (a mean increase of 5.6 percentage points); (2) decreases the probability that a lease is ever drilled during its observed lease term by an average of 14.5% (a mean decrease of 1.3 percentage points); and (3) increases the expected number of explored leases by 150%. The introduction of DWRRA also increases the average winning bid per lease by 60%. These estimates quantify the magnitudes of the discouraging effects of production taxation on oil and natural gas investment. In the second essay, I quantify the implied value of information spillovers in oil and natural gas exploration using an event study design. I find that 25 trading days after a discovery, firms that own leases adjacent to the discovery lease (but not the discovery lease, itself) realize an average abnormal return translating to 315 million in market capitalization. This effect is quantitatively large compared to costs for drilling an exploratory well. In the final essay, I measure how oil price affects water injection, a method for prolonging the productive lifetime of oil fields. I find that a 1 rise in price increases the water injected into the well's reservoir by

Report on the NRA workshop ''investing in trust, nuclear regulators and the public''

International Nuclear Information System (INIS)

Laaksonen, J.

2002-01-01

The workshop was held in Paris on the 29. November - 1. December 2000. Its objective was well captured in the title: Investing in Trust, Nuclear Regulators and the Public. The general public is concerned with the risks involved in the use of nuclear power, and has a legitimate desire for reliable and impartial information. The nuclear regulators have answers, but in order to fulfill the information needs of the general public and their elected representatives, they need to be regarded trustworthy. Most of the about 80 participants were from nuclear regulatory bodies and radiation protection agencies. The discussions gave regulators an opportunity to change views and experiences on how to gain trust in their openness and honesty, and in their will and capability to protect public interests. The weight given to the topic was indicated by participation of nine heads of national regulatory bodies, among them top regulators from four countries with largest nuclear programmes: the USA, Japan, France, and the UK. The number of papers presented was 33, and their topics were considered well chosen by the organizing committee. Throughout the workshop 'posters' were available; these were electronic links to the web sites of the attending regulatory bodies. Proceedings of the workshop will be published during the first half of 2001. (author)

XD Metrics on Demand Value Analytics: Visualizing the Impact of Internal Information Technology Investments on External Funding, Publications, and Collaboration Networks

Directory of Open Access Journals (Sweden)

Olga Scrivner

2018-01-01

Full Text Available Many universities invest substantial resources in the design, deployment, and maintenance of campus-based cyberinfrastructure (CI. To justify the expense, it is important that university administrators and others understand and communicate the value of these internal investments in terms of scholarly impact. This paper introduces two visualizations and their usage in the Value Analytics (VA module for Open XD metrics on demand (XDMoD, which enable analysis of external grant funding income, scholarly publications, and collaboration networks. The VA module was developed by Indiana University’s (IU Research Technologies division, Pervasive Technology Institute, and the CI for Network Science Center (CNS, in conjunction with the University at Buffalo’s Center for Computational Research. It provides diverse visualizations of measures of information technology (IT usage, external funding, and publications in support of IT strategic decision-making. This paper details the data, analysis workflows, and visual mappings used in two VA visualizations that aim to communicate the value of different IT usage in terms of NSF and NIH funding, resulting publications, and associated research collaborations. To illustrate the feasibility of measuring IT values on research, we measured its financial and academic impact from the period between 2012 and 2017 for IU. The financial return on investment (ROI is measured in terms of IU funding, totaling $339,013,365 for 885 NIH and NSF projects associated with IT usage, and the academic ROI constitutes 968 publications associated with 83 of these NSF and NIH awards. In addition, the results show that Medical Specialties, Brain Research, and Infectious Diseases are the top three scientific disciplines ranked by the number of publications during the given time period.

Review of capital investment in economic growth cycle

Science.gov (United States)

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

2016-11-01

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

Does Public Investment Boost Economic Growth? Evidence from An Open-Economy Macro Model for India

OpenAIRE

Pal, Soubarna

2008-01-01

Using annual data for India for the period 1984-2003 and employing parametric technique (GMM), the present paper jointly determines GDP growth, real exchange rate and net foreign assets in Indian economy. There is evidence that public investment exerts a significant influence on real exchange rate and the growth rate and does so non-linearly. A comparison of the Indian estimates with those available for the UK and the USA economies is also revealing and highlights the role of governance on th...

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 ...

Determinants of Private Investment in Tanzania | Michael | African ...

African Journals Online (AJOL)

The results show that public investment, GDP growth and credit to private sector are important in explaining growth of private investment but there is no enough evidence that interest rate, exchange rate and degree of openness of the economy have influence on growth of private investment. Policy implications on both fiscal ...

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).

Productivity, pricing policy and investments in French and British nationalized electric companies

International Nuclear Information System (INIS)

Chick, Martin; Huret, Romain

2003-01-01

This is a comparative study of the development of, and interaction between, pricing, investment and productivity in the nationalised electricity industries in the United Kingdom and France between 1945 and 1973. The paper concentrates on examining why the rate of diffusion of marginal approaches to pricing and investment was faster in France than in the UK, although it notes that, in theory at least, the coverage of marginalist ideas was greater in the UK than in France by the late 1960's. The paper highlights the influence of French engineers and economists such as Marcel Boiteux and Pierre Masse on the development of applied public economics in the UK, and suggests that the experiences of 1945- 1973 were to have a significant long-term impact on subsequent attitudes towards privatisation and the promotion of competition in the electricity industry in each economy

Profiles of foreign direct investment in US energy, 1991

International Nuclear Information System (INIS)

1993-01-01

Profiles of Foreign Direct Investment in US Energy 1991 describes the role of foreign ownership in US energy enterprises, with respect to investment, energy operations, and financial performance. Additionally, since energy investments are made in a global context, outward investment in energy is reviewed trough an examination of US-based companies' patterns of investment in foreign petroleum. The data used in this report come from the Energy Information Administration (EIA), the US Department of Commerce, company annual reports, and public disclosures of investment transactions

Profiles of foreign direct investment in US energy, 1990

International Nuclear Information System (INIS)

1992-01-01

Profiles of Foreign Direct Investment in US Energy 1990 describes the role of foreign ownership in US energy enterprises, with respect to investment, energy operations, and financial performance. Additionally, since energy investments are made in a global context, outward investment in energy is reviewed through an examination of US-based companies' patterns of investment in foreign petroleum. The data used in this report come from the Energy Information Administration (EIA), the US Department of Commerce, company annual reports, and public disclosures of investment transactions

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...

Power generation investment in electricity markets

International Nuclear Information System (INIS)

2003-01-01

Most IEA countries are liberalizing their electricity markets, shifting the responsibility for financing new investment in power generation to private investors. No longer able to automatically pass on costs to consumers, and with future prices of electricity uncertain, investors face a much riskier environment for investment in electricity infrastructure. This report looks at how investors have responded to the need to internalize investment risk in power generation. While capital and total costs remain the parameters shaping investment choices, the value of technologies which can be installed quickly and operated flexibly is increasingly appreciated. Investors are also managing risk by greater use of contracting, by acquiring retail businesses, and through mergers with natural gas suppliers. While liberalization was supposed to limit government intervention in the electricity market, volatile electricity prices have put pressure on governments to intervene and limit such prices. This study looks at several cases of volatile prices in IEA countries' electricity markets, and finds that while market prices can be a sufficient incentive for new investment in peak capacity, government intervention into the market to limit prices may undermine such investment

Public financial institutions and the low carbon transition: five case studies on low-carbon infrastructure and project investment. Environment working paper No. 72:

International Nuclear Information System (INIS)

Cochran, Ian; Hubert, Romain; Marchal, Virginie; Youngman, Robert; Rus, Katerina; Baker, Jade; Kynaston, Jane

2014-01-01

Public financial institutions (PFIs) are well-positioned to act as a key leverage point for governments' efforts to mobilise private investment in low-carbon projects and infrastructure. The study identifies the tools, instruments and approaches used by five PFIs to directly support and scale-up domestic private sector investment in sustainable transport, energy-efficiency and renewable energy in OECD countries. Between 2010-2012, these five institutions - Group Caisse des Depots in France, KfW Bankengruppe in Germany, the UK Green Investment Bank, the European Investment Bank, and the European Bank for Reconstruction and Development - have provided over 100 billion euros of equity investment and financing for energy efficiency, renewable energy and sustainable transport projects. They use both traditional and innovative approaches to link low-carbon projects with finance through enhancing access to capital; facilitating risk reduction and sharing; improving the capacity of market actors; and shaping broader market practices and conditions. (authors)

Determinants of sovereign wealth fund investment in private equity

NARCIS (Netherlands)

Johan, S.A.; Knill, A.M.; Mauck, N.

2010-01-01

This paper examines investment patterns of 50 sovereign wealth funds (SWFs) in nations around the world. We study investment by SWFs in 903 public and private firms over the period 1984-2009. As expected, we observe SWFs investments are more often in private firms when the market returns of target

17 CFR 210.12-13 - Investments other than securities.

Science.gov (United States)

2010-04-01

... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Investments other than... EXCHANGE ACT OF 1934, PUBLIC UTILITY HOLDING COMPANY ACT OF 1935, INVESTMENT COMPANY ACT OF 1940, INVESTMENT ADVISERS ACT OF 1940, AND ENERGY POLICY AND CONSERVATION ACT OF 1975 Form and Content of Schedules...

The Rate of Return to Educational Investment in China: A Comparative Commentary

Science.gov (United States)

Li, Fengliang; Zhao, Yandong; Morgan, W. John

2011-01-01

This article comments on several features of the rate of return (ROR) to educational investment in China: first, the ROR to educational investment has increased with the expansion of educational provision since the 1980s. Second, the greater the educational provision, the greater the ROR. Third, the ROR in urban areas is more than that in rural…

Advancing social and economic development by investing in women's and children's health: a new Global Investment Framework.

Science.gov (United States)

Stenberg, Karin; Axelson, Henrik; Sheehan, Peter; Anderson, Ian; Gülmezoglu, A Metin; Temmerman, Marleen; Mason, Elizabeth; Friedman, Howard S; Bhutta, Zulfiqar A; Lawn, Joy E; Sweeny, Kim; Tulloch, Jim; Hansen, Peter; Chopra, Mickey; Gupta, Anuradha; Vogel, Joshua P; Ostergren, Mikael; Rasmussen, Bruce; Levin, Carol; Boyle, Colin; Kuruvilla, Shyama; Koblinsky, Marjorie; Walker, Neff; de Francisco, Andres; Novcic, Nebojsa; Presern, Carole; Jamison, Dean; Bustreo, Flavia

2014-04-12

A new Global Investment Framework for Women's and Children's Health demonstrates how investment in women's and children's health will secure high health, social, and economic returns. We costed health systems strengthening and six investment packages for: maternal and newborn health, child health, immunisation, family planning, HIV/AIDS, and malaria. Nutrition is a cross-cutting theme. We then used simulation modelling to estimate the health and socioeconomic returns of these investments. Increasing health expenditure by just $5 per person per year up to 2035 in 74 high-burden countries could yield up to nine times that value in economic and social benefits. These returns include greater gross domestic product (GDP) growth through improved productivity, and prevention of the needless deaths of 147 million children, 32 million stillbirths, and 5 million women by 2035. These gains could be achieved by an additional investment of $30 billion per year, equivalent to a 2% increase above current spending. Copyright © 2014 Elsevier Ltd. All rights reserved.

ONLINE PROMOTION OF FINANCIAL INVESTMENT SERVICES COMPANIES

Directory of Open Access Journals (Sweden)

Ioana Ancuta Iancu

2016-12-01

Full Text Available When we think about promotion in financial investment services companies, we have to consider, not only the offline or traditional type of promotion (personal communication, advertising, sales promotion, public relations and organization identity but online promotion as well. Due to the fact that for more and more people, Internet represents the most important mean of communication, financial investment services companies marketing specialists have a variety of tools at hand. In this study we will describe the most important online promotion tools, like: E-mail Marketing, advertising, search engines, networks socialization, M-Marketing and promotion through web pages. Specific methods of online promotion enable real-time knowledge of the investor’s behavior and can also address to them most effectively. The purpose of this theoretical study is to increase the rate of knowledge and usage of online marketing, in a very conservatory sector of the financial market: Financial Investment Services Companies Marketing. By promoting online a company, a product or a service the marketing specialists can target specific customer, segments and quantify results, which is almost impossible on such a scale and with such precision by traditional methods of promotion. Based on the literature and our own experience, methods were taken up and adapted in financial investment services companies. We show the present state of online marketing, make proposals and describe difficulties which can be encountered when an e-marketing strategy is made. The conclusion of our study is that more and more companies use online tools in their marketing strategies. There is a change in attitude by the Financial Investment Services Companies web pages: from a reserved one in 2010 to one open to innovation in 2015; we believe that SSIF Broker is an illustrative example in this regard. Instead, our opinion is that Search Engine Optimization should be used more by SSIF Broker

Does Foreign Aid increase Foreign Direct Investment?

DEFF Research Database (Denmark)

Selaya, Pablo; Sunesen, Eva Rytter

2012-01-01

We examine the idea that aid and FDI are complementary sources of foreign capital. We argue that the relationship between aid and FDI is theoretically ambiguous: aid raises the marginal productivity of capital when used to finance complementary inputs (like public infrastructure and human capital...... investments), but aid may crowd out private investments when it comes in the shape of pure physical capital transfers. Empirically, we find that aid invested in complementary inputs draws in FDI, while aid invested in physical capital crowds it out. The paper shows that the composition of aid matters for its...

Greater happiness for a greater number: Is that possible in Austria?

NARCIS (Netherlands)

R. Veenhoven (Ruut)

2011-01-01

textabstractWhat is the final goal of public policy? Jeremy Bentham (1789) would say: greater happiness for a greater number. He thought of happiness as subjective enjoyment of life; in his words as “the sum of pleasures and pains”. In his time the happiness of the great number could not be measured

Greater happiness for a greater number: Is that possible in Germany?

NARCIS (Netherlands)

R. Veenhoven (Ruut)

2009-01-01

textabstractWhat is the final goal of public policy? Jeremy Bentham (1789) would say: greater happiness for a greater number. He thought of happiness as subjective enjoyment of life; in his words as “the sum of pleasures and pains”. In his time the Happiness of the great number could not be measured

Hospital Capital Investment During the Great Recession.

Science.gov (United States)

Choi, Sung

2017-01-01

Hospital capital investment is important for acquiring and maintaining technology and equipment needed to provide health care. Reduction in capital investment by a hospital has negative implications for patient outcomes. Most hospitals rely on debt and internal cash flow to fund capital investment. The great recession may have made it difficult for hospitals to borrow, thus reducing their capital investment. I investigated the impact of the great recession on capital investment made by California hospitals. Modeling how hospital capital investment may have been liquidity constrained during the recession is a novel contribution to the literature. I estimated the model with California Office of Statewide Health Planning and Development data and system generalized method of moments. Findings suggest that not-for-profit and public hospitals were liquidity constrained during the recession. Comparing the changes in hospital capital investment between 2006 and 2009 showed that hospitals used cash flow to increase capital investment by $2.45 million, other things equal.

Hospital Capital Investment During the Great Recession

Science.gov (United States)

Choi, Sung

2017-01-01

Hospital capital investment is important for acquiring and maintaining technology and equipment needed to provide health care. Reduction in capital investment by a hospital has negative implications for patient outcomes. Most hospitals rely on debt and internal cash flow to fund capital investment. The great recession may have made it difficult for hospitals to borrow, thus reducing their capital investment. I investigated the impact of the great recession on capital investment made by California hospitals. Modeling how hospital capital investment may have been liquidity constrained during the recession is a novel contribution to the literature. I estimated the model with California Office of Statewide Health Planning and Development data and system generalized method of moments. Findings suggest that not-for-profit and public hospitals were liquidity constrained during the recession. Comparing the changes in hospital capital investment between 2006 and 2009 showed that hospitals used cash flow to increase capital investment by $2.45 million, other things equal. PMID:28617202

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…

Foreign Direct Investment and Public Sector Management and ...

African Journals Online (AJOL)

The major finding using. GMM estimator ... international investment barriers for enacting entrée international markets. Thus, the private ..... thus, panel data accounts for individual heterogeneity and can control for any spurious ..... dependent variable has two lags for intention of capturing all the past information regarding the.

The health impact of trade and investment agreements: a quantitative systematic review and network co-citation analysis.

Science.gov (United States)

Barlow, Pepita; McKee, Martin; Basu, Sanjay; Stuckler, David

2017-03-08

Regional trade agreements are major international policy instruments that shape macro-economic and political systems. There is widespread debate as to whether and how these agreements pose risks to public health. Here we perform a comprehensive systematic review of quantitative studies of the health impact of trade and investment agreements. We identified studies from searches in PubMed, Web of Science, EMBASE, and Global Health Online. Research articles were eligible for inclusion if they were quantitative studies of the health impacts of trade and investment agreements or policy. We systematically reviewed study findings, evaluated quality using the Quality Assessment Tool from the Effective Public Health Practice Project, and performed network citation analysis to study disciplinary siloes. Seventeen quantitative studies met our inclusion criteria. There was consistent evidence that implementing trade agreements was associated with increased consumption of processed foods and sugar-sweetened beverages. Granting import licenses for patented drugs was associated with increased access to pharmaceuticals. Implementing trade agreements and associated policies was also correlated with higher cardiovascular disease incidence and higher Body Mass Index (BMI), whilst correlations with tobacco consumption, under-five mortality, maternal mortality, and life expectancy were inconclusive. Overall, the quality of studies is weak or moderately weak, and co-citation analysis revealed a relative isolation of public health from economics. We identified limitations in existing studies which preclude definitive conclusions of the health impacts of regional trade and investment agreements. Few address unobserved confounding, and many possible consequences and mechanisms linking trade and investment agreements to health remain poorly understood. Results from our co-citation analysis suggest scope for greater interdisciplinary collaboration. Notwithstanding these limitations, our

Generating private co-investments in area-based urban regeneration: Lessons from Denmark

DEFF Research Database (Denmark)

Jensen, Jesper Ole; Larsen, Jacob Norvig; Storgaard, Kresten

a factor 5 times higher than the public investments in the areas, in terms of urban regeneration subsidies. Private investments, however, might cover different property investment strategies: ‘Passive management’, ‘active management’ and ‘development’. We suggest that for the urban regeneration areas......In recent years, public-private collaboration as well as private co-investments has been intensely promoted in Danish area-based urban regeneration policy and programmes. The paper will discuss to which extent these ambitions have been full-filled, and what has actually attracted private...... investments to the urban regeneration areas. The paper is based on evaluations of the Danish area-based regeneration programmes, as well as research on private investments in selected urban regeneration areas. Our research shows that area-based urban regeneration in average generates private investments...

Return on Investment in Public Relations: A critique of concepts used by practitioners from the perspectives of communication and management sciences

OpenAIRE

Watson, Tom; Zerfass, Ansgar

2011-01-01

Return on Investment (ROI) is a term commonly and non-specifically used by public relations practitioners when discussing the value to be created from communication activities. It mimics business language, particularly from business administration and financial management, but does not figure widely in academic discourse (Watson, 2005). \\ud The Institute for Public Relations [now CIPR] undertook a review of ROI practice in the United Kingdom (IPR/CDF 2004) and Likely, Rockland and Weiner (200...

INVESTING IN THE GLOBAL ENERGY: KEY TRENDS

Directory of Open Access Journals (Sweden)

A. Stepanova

2016-06-01

Full Text Available The questions of energy investments in the regions of the world, which allowed to carry out analysis of various types of energy production, focus on enerhozberezheni and renewable energy sources. Proved the importance of investing energy sector for the entire civilized world and defined the priorities of the process. Indicated that investment in the energy sector is based on public policy, to determine possible solutions to the energy dependence of Ukraine, taking into account the international experience.

Massive public investment needed to grow green economy.

Science.gov (United States)

2009-01-01

The President of the Communications Workers of America, Larry Cohen, urges large-scale investments in research and technology in response to economic turmoil and climate change. He envisions one million made-in-America hybrid cars running on U.S. roadways by 2015 and use of alternative energy doubling within three years.

Investment preferences for wood-based energy initiatives in the US

Energy Technology Data Exchange (ETDEWEB)

Aguilar, Francisco X. [Department of Forestry, School of Natural Resources, 203L Anheuser-Busch Natural Resources Building, University of Missouri, Columbia, MO 65211 (United States)

2009-06-15

The forest sector is poised to become a major supplier of wood-based energy in the US. Prospects for growth in energy demand and higher prices can create opportunities for private investments in renewable energy industries. A conjoint analysis examined individuals' willingness to invest in wood-based energies following a random utility model. The study design included three investment attributes: annual returns on investment, type of investment, and location of investment. Three ordinal models that also included demographic and attitudinal characteristics indicate that wood-based energy is less preferred among potential investors compared to the stock market and solar/wind renewable energy investments. Expected returns and location of energy investments within the US are also major drivers of investment preferences. Favorable attitudes towards forestry and wood-based energy could enhance prospects for a greater number of potential investors. (author)

Investment preferences for wood-based energy initiatives in the US

International Nuclear Information System (INIS)

Aguilar, Francisco X.

2009-01-01

The forest sector is poised to become a major supplier of wood-based energy in the US. Prospects for growth in energy demand and higher prices can create opportunities for private investments in renewable energy industries. A conjoint analysis examined individuals' willingness to invest in wood-based energies following a random utility model. The study design included three investment attributes: annual returns on investment, type of investment, and location of investment. Three ordinal models that also included demographic and attitudinal characteristics indicate that wood-based energy is less preferred among potential investors compared to the stock market and solar/wind renewable energy investments. Expected returns and location of energy investments within the US are also major drivers of investment preferences. Favorable attitudes towards forestry and wood-based energy could enhance prospects for a greater number of potential investors.

Return on investment: a fuller assessment of the benefits and cost savings of the US publicly funded family planning program.

Science.gov (United States)

Frost, Jennifer J; Sonfield, Adam; Zolna, Mia R; Finer, Lawrence B

2014-12-01

Policy Points: The US publicly supported family planning effort serves millions of women and men each year, and this analysis provides new estimates of its positive impact on a wide range of health outcomes and its net savings to the government. The public investment in family planning programs and providers not only helps women and couples avoid unintended pregnancy and abortion, but also helps many thousands avoid cervical cancer, HIV and other sexually transmitted infections, infertility, and preterm and low birth weight births. This investment resulted in net government savings of $13.6 billion in 2010, or $7.09 for every public dollar spent. Each year the United States' publicly supported family planning program serves millions of low-income women. Although the health impact and public-sector savings associated with this program's services extend well beyond preventing unintended pregnancy, they never have been fully quantified. Drawing on an array of survey data and published parameters, we estimated the direct national-level and state-level health benefits that accrued from providing contraceptives, tests for the human immunodeficiency virus (HIV) and other sexually transmitted infections (STIs), Pap tests and tests for human papillomavirus (HPV), and HPV vaccinations at publicly supported family planning settings in 2010. We estimated the public cost savings attributable to these services and compared those with the cost of publicly funded family planning services in 2010 to find the net public-sector savings. We adjusted our estimates of the cost savings for unplanned births to exclude some mistimed births that would remain publicly funded if they had occurred later and to include the medical costs for births through age 5 of the child. In 2010, care provided during publicly supported family planning visits averted an estimated 2.2 million unintended pregnancies, including 287,500 closely spaced and 164,190 preterm or low birth weight (LBW) births, 99

Juggling Act: Balancing Safety, Security, and Yield in School Investments.

Science.gov (United States)

Sallack, David J.

2001-01-01

Although state laws governing school district investing are quite conservative, there have been some notable investment failures leading to the loss of public funds. School districts must beware three kinds of investment risks involving credit, market, and interest rates and consider safety, legality, liquidity, and cash-flow requirements. (MLH)

Investment barriers and incentives for marine renewable energy in the UK: An analysis of investor preferences

International Nuclear Information System (INIS)

Leete, Simeon; Xu, Jingjing; Wheeler, David

2013-01-01

Deployment of marine renewable energy (MRE) in the UK is desirable in order to address climate change, meet mandatory EU renewable energy targets and provide significant economic development opportunities, including new export markets. Public funding constraints in the UK mean that substantial investment is required from the private sector to commercialize the industry. By focussing on investor attitudes and behaviours towards wave and tidal technologies, this paper reveals significant observations from the investment community with serious implications for the future of the MRE industry. Through a series of in-depth interviews with individuals from the investment community, device developers and industry support, the research seeks to identify common barriers and incentives to investment. The paper demonstrates that although investors' attitudes are generally aligned, they do appear to have changed over time. Of the participants that had previously invested in early stage MRE device development, none were likely to do so again. It is concluded that this is a function of investors' greater understanding of the scale, and unpredictability of the costs, and the length of time required to develop these technologies. This presents a significant policy challenge for all actors interested in the commercialization of wave and tidal technologies. - Highlights: • Performed a series of in-depth interviews with senior finance and industry actors. • Examined investor attitudes and policy preferences that may encourage investment. • VC investors are currently disinclined to invest in early stage device development. • Policy instability, level of capital and revenue support are key investment barriers. • Commercialization requires strategic government and industrial partner investment

How Does Corruption in Developing Countries Affect Corporate Investment and Tax Compliance?

OpenAIRE

Riedel, Nadine; Fuest, Clemens; Maffini, Giorgia

2010-01-01

Using a rich panel data base for firms in Asian countries, we assess the effect of public sector corruption on corporate assets investment and tax payments. Our findings suggest that public sector corruption does not deter investment activities of national firms while asset investment of multinational corporations is significantly reduced in corrupt environments. Moreover, the findings indicate that corruption exerts a quantitatively large negative effect on corporate tax payments, especially...

Investing in the gas industry in Central and Eastern Europe

International Nuclear Information System (INIS)

Mulder, H.

1996-01-01

This presentation explains what are the most common bottlenecks for foreign investments in the gas industry in Central and Eastern Europe. Taking into account the investment needs arising in economies in transition, from investor's point of view the issue of great importance is the risk when prices are not yet at market equivalent levels. Changes in the policy (regulatory, legal, financial) environment should stimulate investments. Privatization and liberalization are also driven by lack of public capital. Foreign investment would need a predictable investment environment. The investment needs of the gas industry would compete with other investments that might be more attractive

Raising private investment funds for museums

NARCIS (Netherlands)

van der Burg, Tsjalle; Dolfsma, W.; Wilderom, Celeste P.M.

2004-01-01

The authors propose the notion of an "arts fund", a publicly traded investment fund for the purpose of acquiring increasingly costly art works to be displayed in museums. Public as well as private museums stand to benefit greatly from such an approach to financially supporting the arts. A

46 CFR 390.8 - Investment of the fund.

Science.gov (United States)

2010-10-01

... MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION REGULATIONS UNDER PUBLIC LAW 91-469 CAPITAL... the quality of securities, restrictions on the type of stock in which a fund may invest, related... preferred stocks. The party or the party's trustee may invest in the following common and preferred stocks...

17 CFR 210.12-12A - Investments-securities sold short.

Science.gov (United States)

2010-04-01

... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Investments-securities sold... EXCHANGE ACT OF 1934, PUBLIC UTILITY HOLDING COMPANY ACT OF 1935, INVESTMENT COMPANY ACT OF 1940, INVESTMENT ADVISERS ACT OF 1940, AND ENERGY POLICY AND CONSERVATION ACT OF 1975 Form and Content of Schedules...

Public Transparency

OpenAIRE

UNCTAD; World Bank

2018-01-01

This note provides guidance on the type of information about agricultural investments that investors and governments can make publicly available. Transparency about certain aspects of investments can improve relations between investors and communities, enable external stakeholders to hold investors to commitments, and improve investors’ public image. Although some information should be kep...

CONSIDERATIONS ON THE METHODOLOGY FOR IDENTIFYING AND PRIORITIZING PUBLIC INVESTMENT PROJECTS IN ROMANIA

Directory of Open Access Journals (Sweden)

Marilena BOGHEANU

2012-01-01

Full Text Available The optimization of the investment project pipeline of public administration is a key issue for member states, including Romania, in the current European Union policy. Solving this problem depends largely on the establishment of an appropriate methodological framework for identifying and prioritizing projects and development programs. Based on the new requirements imposed by the European Commission for the next financial cycle 2014-2020, in this article we propose solutions for improving the methodological framework by establishing general and specific criteria for evaluating projects, especially in the ex-ante stage.Our research is based on critical analysis of the current situation, including sample survey. The results obtained were materialized in an improved methodology for selecting and prioritizing projects that can contribute to a stable and uniform mechanism for planning at local level.

Does Foreign Aid Increase Foreign Direct Investment?

DEFF Research Database (Denmark)

Selaya, Pablo; Sunesen, Eva Rytter

  The notion that foreign aid and foreign direct investment (FDI) are complementary sources of capital is conventional among governments and international cooperation agencies. This paper argues that the notion is incomplete. Within the framework of an open economy Solow model we show...... that the theoretical relationship between foreign aid and FDI is indeterminate. Aid may raise the marginal productivity of capital by financing complementary inputs, such as public infrastructure projects and human capital investment. However, aid may also crowd out productive private investments if it comes...... in the shape of physical capital transfers. We therefore turn to an empirical analysis of the relationship between FDI and disaggregated aid flows. Our results strongly support the hypotheses that aid invested in complementary inputs draws in foreign capital while aid invested in physical capital crowds out...

The Canada Pension Plan's experience with investing its portfolio in equities.

Science.gov (United States)

Sarney, M; Preneta, A M

. The board is designed to be independent of government. The federal and provincial governments designed the board to operate at arm's length from themselves. The process for selecting directors includes public- and private-sector participation, and the board is in compliance with several sets of governance guidelines for corporations. CPPIB management, with the support of its board of directors, has decided to implement a virtual corporation model involving a small team of senior executives setting strategies for implementation primarily by external professional firms. Consequently, as a virtual corporation, the board currently relies on external fund managers to make investments and vote proxies. Several measures are designed to ensure accountability to the public. The investment legislation subjects the board to overlapping layers of oversight to ensure accountability to the public. The features of this oversight include public meetings in each province as well as quarterly statements and annual reports to Parliament, the federal and provincial finance ministers, and the public. The 10 finance ministers review the CPPIB's mandate and regulations every 3 years, and the CPPIB is subject to a special examination every 6 years by an auditor appointed by the Federal Minister of Finance.

Building an urban 'renaissance': fragmented services and the production of inequality in Greater Downtown Detroit.

Science.gov (United States)

Doucet, Brian; Smit, Edske

2016-01-01

Downtown Detroit has been undergoing a renaissance in recent years which is in stark contrast to the economic and social situation in much of the rest of the city. This renaissance has been taking place despite the city's ability to provide good municipal services such as streetlights, security, public space and transport. This article focuses on how four areas which constitute part of Greater Downtown Detroit have relied on different combinations of actors to create and provide the services and amenities deemed necessary for capital investment and middle-class consumption. Each area has its own initiatives and actors who implement them, further fragmenting the city between its core and periphery. Renewed public spaces, private police forces and resident initiatives in middle-class neighborhoods have been created to serve specific needs of the small areas they serve. Rather than being unique, Detroit is an extreme example of fragmented and polarized urbanism which is part and parcel of contemporary cities. We argue that rather than passively reflecting existing socio-spatial divides, these private initiatives in Greater Downtown Detroit actively contribute to the production of sociospatial inequalities across the city.

For the greater good? Patient and public attitudes to use of medical free text data in research

Directory of Open Access Journals (Sweden)

Elizabeth Ford

2017-04-01

This review demonstrates that transparency about data usage, and working “for the greater good” rather than financial gain, appear to be the most important public concerns to be addressed when using patients’ medical data. Governance frameworks for using EHRs must now be enhanced to provide for the use of medical text. This will involve informing both regulators and the public about the current capabilities of automated de-identification, and developing other assurances to safeguard patients’ privacy.

Determinants of Success in Private Equity-Venture Capital Investments

Directory of Open Access Journals (Sweden)

Antonio Gledson de Carvalho

2011-06-01

Full Text Available This paper investigates the determinants of performance of the investments of private equity and venture capital (PEVC funds in Brazil. We use two unique databases: the First Brazilian Private Equity and Venture Capital Census and the Guia-GVcepe Endeavor, with information on this industry for the period 1999 to 2007. As measures of performance we use the percentage and number of exits through IPO, acquisition by a company or by another investor. Our results indicate that the factors influencing the performance of investments are: size of the fund, number of investments, the practice of co-investment, experience and foreign origin of the managing organization, focus on late stage, intensity of contact between managers and portfolio companies and the number of seats on the boards of the invested companies. The number of successes grows with the number of investments at a declining rate. This can indicate 1 a limit to the ability of managers or 2 that a large number of investments allows for greater diversification of risk, directing investments to companies of high risk but with a high upside.

Determinants of Working Capital Investment: A Study of Malaysian Public Listed Firms

Directory of Open Access Journals (Sweden)

Shaista Wasiuzzaman

2013-06-01

Full Text Available The paper examines the determinants of the level of investment in net operating working capital by firms in Malaysia. Data from 192 companies spanning a period of 8 years (2000- 2007 are analysed using the OLS regression technique for this purpose. The study finds that in times of economic expansion, younger and smaller firms with less tangible assets, low leverage, high immediate sales growth, high operating cash flows, less volatile revenues and low levels of asymmetric information are likely to have the highest investments inoperating working capital. Board characteristics, namely size and the independence of the board, are not found to have any significant influence on the working capital investment of firms.

XSEDE Value Added, Cost Avoidance, and Return on Investment

Energy Technology Data Exchange (ETDEWEB)

Stewart, Craig A [Indiana University; Roskies, Ralph [Pittsburgh Supercomputing Center; Knepper, Richard [Indiana University; Whitt, Justin L [ORNL; Moore, Richard L [San Diego Supercomputer Center; Cockerill, Timothy [Texas Advanced Computing Center

2015-01-01

It is difficult for large research facilities to quantify a return on the investments that fund their operations. This is because there can be a time lag of years or decades between an innovation or discovery and the realization of its value through practical application. This report presents a three-part methodology that attempts to assess the value of federal investment in XSEDE: 1) a qualitative examination of the areas where XSEDE adds value to the activities of the open research community, 2) a thought model examining the cost avoidance realized by the National Science Foundation (NSF) through the centralization and coordination XSEDE provides, and 3) an assessment of the value XSEDE provides to Service Providers in the XD ecosystem. XSEDE adds significantly to the US research community because it functions as a unified interface to the XD ecosystem and because of its scale. A partly quantitative, partly qualitative analysis suggests the Return on Investment of NSF spending on XSEDE is greater than 1.0. indicating that the aggregate value received by the nation from XSEDE is greater than the cost of direct federal investment in XSEDE.

Greater happiness for a greater number: Is that possible? If so how? (Arabic)

NARCIS (Netherlands)

R. Veenhoven (Ruut); E. Samuel (Emad)

2012-01-01

textabstractWhat is the final goal of public policy? Jeremy Bentham (1789) would say: greater happiness for a greater number. He thought of happiness as subjective enjoyment of life; in his words as “the sum of pleasures and pains”. In his time, the happiness of the great number could not be

Use of net present value analysis to evaluate a publicly funded biomass-to-ethanol research, development, and demonstration program and valuate expected private sector participation.

Science.gov (United States)

Hinman, N D; Yancey, M A

1998-01-01

One of the functions of government is to invest tax dollars in programs, projects, and properties that will result in greater public benefit than would have resulted from leaving the tax dollars in the private sector or using them to pay off the public debt. This paper describes the use of Net Present Value (NPV) as an approach to analyze and select investment opportunities for government money in public research, development, and demonstration (RD&D) programs and to evaluate potential private sector participation in the programs. This approach is then applied to a specific biomass-to-ethanol opportunity in California.

FOREIGN DIRECT INVESTMENTS DURING FINANCIAL CRISES

Directory of Open Access Journals (Sweden)

VINTILA DENISIA MARIANA

2011-12-01

Full Text Available The fundamental idea of International capital flows is that short-term flows can be easily reversed, while flows on a longer time horizon are more stable. Crises are associated with withdrawals of short-term capital flows and growth of the foreign direct investment flows. The current crisis has meant a major decline of international capital flows, also of the foreign direct investment. The analysis in this article tries to establish if and under which conditions foreign direct investments can bring greater stability during the crisis, comparing the evolution of foreign direct investments in the current crisis with their response in previous crises. We show that during previous crises foreign direct investments were stable, behaving differently from other types of capital. Yet, during the current crisis, foreign direct investments have proven to be not so stable and all the components declined, raising questions about the resumption of the positive trend. The stability of foreign direct investments in the past was given by the increase of mergers and acquisitions during the crisis, reflecting fire-sale FDI. This feature is not found in the current crisis as mergers and acquisitions were severe affected by the crises and recorded a major decline. The current paper is realized in the doctoral program entitled PhD in economics at the standards of European knowledge- DoEsEc, scientific coordinator Prof. PhD Rodica Zaharia, institution The Academy of Economic Studies Bucharest, Faculty of International Business, period of research 2009-2012.

A feasibility study on a wind energy investment fund

International Nuclear Information System (INIS)

Mitchell, R.; Vassall-Adams, G.; Lynch, M.; Coates, S.; Willcox, S.

1994-01-01

This study seeks to overcome an obstacle to greater use of wind energy in Britain - the difficulties experienced by developers of small wind farms in raising finance for their projects. This need for capital has provided the impetus for this investigation into the possibility of wind funds, which would enable investors to invest in wind energy and provide developers of small wind farms with the financial backing they need. The contents of this report reflect the issues which would be of interest to an organisation wishing to establish a wind fund. These include the environmental concerns which have spurred the development of sustainable energy technologies, the role of government in establishing the framework for wind energy generation in Britain and public concern about the impact of wind farms. (author)

The influence of financial market development on investment activities in a developing country

Directory of Open Access Journals (Sweden)

Shirley Malope

2017-09-01

Full Text Available Financial markets are considered developed if there is improvement in the size, activity, efficiency and stability of the financial system. The study looked at how financial development based on debt, stock, money and foreign markets affect investment. The Johansen cointegration and Vector Error Correction Model (VECM were used to estimate the short and long run relationship and test for the speed of adjustment. Granger causality test informed about direction of causality, variance decompositions and impulse response indicated effects of shocks. The Johansen cointegration test showed that the variables have a long run relationship. VECM showed that the speed of adjustment is about 13%, which means that variables will converge to equilibrium relatively quickly. The impulse response function indicated that financial market development indicators have short-run effects on investment in the first quarters after the initial shocks. Variance decomposition also indicated that specifically government bonds had greater effect in predicting future investments. The policy implications of these findings are for government to place greater priority on government bonds as its effect on investment is greater than other financial development proxies. Policies should focus on allowing greater risk diversification and improving the independence of the financial sector from government interference

Optimal security investments and extreme risk.

Science.gov (United States)

Mohtadi, Hamid; Agiwal, Swati

2012-08-01

In the aftermath of 9/11, concern over security increased dramatically in both the public and the private sector. Yet, no clear algorithm exists to inform firms on the amount and the timing of security investments to mitigate the impact of catastrophic risks. The goal of this article is to devise an optimum investment strategy for firms to mitigate exposure to catastrophic risks, focusing on how much to invest and when to invest. The latter question addresses the issue of whether postponing a risk mitigating decision is an optimal strategy or not. Accordingly, we develop and estimate both a one-period model and a multiperiod model within the framework of extreme value theory (EVT). We calibrate these models using probability measures for catastrophic terrorism risks associated with attacks on the food sector. We then compare our findings with the purchase of catastrophic risk insurance. © 2012 Society for Risk Analysis.

17 CFR 210.12-14 - Investments in and advances to affiliates.

Science.gov (United States)

2010-04-01

... EXCHANGE ACT OF 1934, PUBLIC UTILITY HOLDING COMPANY ACT OF 1935, INVESTMENT COMPANY ACT OF 1940... § 210.12-14 Investments in and advances to affiliates. [For management investment companies only] Col. A Col. B Col. C Col. D Col. E Name of issuer and title of issue or nature of indebtedness 1 Number of...

42 CFR 411.354 - Financial relationship, compensation, and ownership or investment interest.

Science.gov (United States)

2010-10-01

... investment interest by one common owner or investor in another common owner or investor. (iv) An indirect... to, the distribution of profits, dividends, proceeds of sale, or similar returns on investment. (iii... or investment interest. 411.354 Section 411.354 Public Health CENTERS FOR MEDICARE & MEDICAID...

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.

The Mutual Investments in Romania - Current Developments and Trends

Directory of Open Access Journals (Sweden)

Florina Oana VIRLANUTA

2013-03-01

Full Text Available Mutual fund industry in Romania has undergone significant growth in recent years in the number of investors and the net assets managed, but still very small compared to other European countries. Capital market development in Romania, the emergence of new investment instruments provides a greater variety of mutual funds investments. Managers decide on the structure of the portfolio by selecting categories of assets in accordance with the rules set out in the Prospectus and according to the degree of risk. In this paper we propose to realize an analysis of mutual investments system in Romania, the progress and their efficiency.

A report on the climate change and investment risk workshop : best practices for Canadian pension funds and institutional investors

International Nuclear Information System (INIS)

Boshyk, A.

2004-01-01

Investors realize that the value of investment portfolios can be influenced by environmental risks such as climate change. This report is intended to raise awareness within the financial community of climate change risk, and to encourage greater corporate disclosure on climate change. It presents recommended best practices from the Social Investment Organization (SIO) regarding pension funds and other institutional investors for assessing and managing climate change risk. In 2003, 87 institutional investors handling $9 trillion, asked the 500 largest publicly traded companies in the world to disclose investment-relevant information concerning their greenhouse gas emissions. Nearly 800 organizations in all sectors of the Canadian economy have launched voluntary action plans to reduce greenhouse gas emissions. The SIO recommends that Canadian institutional investors should sign the Carbon Disclosure Project, a mechanism designed to obtain carbon risk data from the largest companies in the world. Mandatory disclosure programs have been a successful tool in promoting sustainable development. 37 refs

Investing in Energy Efficiency. Removing the Barriers

International Nuclear Information System (INIS)

2004-01-01

Investing in improving energy efficiency has the clear advantages of reducing energy costs, improving security of supply and mitigating the environmental impacts of energy use. And still, many viable opportunities for higher energy efficiency are not tapped because of the existence of numerous barriers to such investments. These lost opportunities imply costs to the individual energy consumers and to the society as a whole and they are particularly important in economies in transition. This report identifies various types of barriers for making energy efficiency investments (be they of legal, administrative, institutional or financial nature), mainly in buildings, district heating and efficient lighting. The role of various bodies and organisations for the facilitation of energy efficiency investments is analysed, from public authorities and regulators to banks and international financing institutions

Political Connections and Investment in Rural Vietnam

DEFF Research Database (Denmark)

Markussen, Thomas; Tarp, Finn

This paper uses household panel data from rural Vietnam to explore the effects of having a relative in a position of political or bureaucratic power on farmers’ agricultural investment decisions. Our main result is that households significantly increase their investment in land improvement...... as a result of relatives moving into public office. Connections to office holders appear to be important for investment because they strengthen de facto land property rights and improve access to off-farm employment and to informal loans. The findings underline the importance of informal networks for economic...... behaviour in environments with developing institutions and markets. They also suggest the presence of an untapped potential for economic development: if households without connections could obtain equally strong property rights and access to credit and insurance as the well-connected households, investment...

The art of investing in the electricity sector

International Nuclear Information System (INIS)

Keuzenkamp, H.; De Nooij, M.; Van Geffen, S.

2003-10-01

After an introduction on the electricity market attention is paid to fundamental characteristics of supply and demand of electricity, and several aspects with respect to investment in the electricity sector. Next, some answers are given on questions on societal, economical and political damage of too low or too high investments in the electricity sector, focusing on public, commercial and conflicting interests [nl

Oligopolistic concurrence and investment: application to electricity markets

International Nuclear Information System (INIS)

Meunier, G.

2008-12-01

This research aims at analysing investment strategies of firms which are in an oligopolistic situation. After a brief description of the physical characteristics of an electric system, the author describes the reforms and defines the problematic of an investment in electricity production within markets in imperfect concurrence. In a first part, the author analyses the heterogeneity (either exogenous or endogenous) and technology choices of oligopolistic firms. In case of an exogenous heterogeneity, he studies the impact of the number of firms on investment decisions. In the second part, the author examines the regulations introduced in industries in imperfect concurrence: electricity production by a public firm and interaction between emission allowance market and investment

PUBLIC-PRIVATE PARTNERSHIP – THE MOST IMPORTANT MODERN TOOLS OF SUCCESSFUL IMPLEMENTATION OF NATIONAL INVESTMENT PROJECTS

Directory of Open Access Journals (Sweden)

E. E. Zhukov

2010-01-01

Full Text Available Article is devoted to actual problems and prospects of perfection of public private partnership mechanisms at important social and economic investment projects realization. The analysis of foreign practice in the PPP field is carried out. Features of Russian PPP development model are considered. The main difficulties on this way are designated. Such as: absence of the normal competitive environment during the choice of the private partner-investor; absence of the qualified experts in the PPP; imperfect legislative base; corruption of officials, etc. Main offers of perfection of PPP-mechanism in Russia, accounting forthcoming modernization and innovative development of Russian economy are given.

Determinants of investment decisions in a crisis: Perspective of Croatian small firms

Directory of Open Access Journals (Sweden)

Jelena Đurkin

2015-01-01

Full Text Available The aim of the paper is to determine the investment activity of small firms in Croatia during the crisis year 2012 and further analyse the effect of selected factors on capital investment decisions. For this purpose, an on-line survey of small businesses was conducted. The research sample consisted of small firms in Primorsko-Goranska County that earned the highest revenue in 2011, because it was assumed they would have greater investment potential in 2012. Research results show that almost half of the firms invested in new fixed assets in 2012. Their investment decisions were primarily motivated by mere "survival" purpose, since the investment activities were mostly oriented toward the replacement of worn-out assets.

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.

Sexual stigma, criminalization, investment, and access to HIV services among men who have sex with men worldwide.

Science.gov (United States)

Arreola, Sonya; Santos, Glenn-Milo; Beck, Jack; Sundararaj, Mohan; Wilson, Patrick A; Hebert, Pato; Makofane, Keletso; Do, Tri D; Ayala, George

2015-02-01

Globally, HIV disproportionately affects men who have sex with men (MSM). This study explored associations between access to HIV services and (1) individual-level perceived sexual stigma; (2) country-level criminalization of homosexuality; and (3) country-level investment in HIV services for MSM. 3,340 MSM completed an online survey assessing access to HIV services. MSM from over 115 countries were categorized according to criminalization of homosexuality policy and investment in HIV services targeting MSM. Lower access to condoms, lubricants, and HIV testing were each associated with greater perceived sexual stigma, existence of homosexuality criminalization policies, and less investment in HIV services. Lower access to HIV treatment was associated with greater perceived sexual stigma and criminalization. Criminalization of homosexuality and low investment in HIV services were both associated with greater perceived sexual stigma. Efforts to prevent and treat HIV among MSM should be coupled with structural interventions to reduce stigma, overturn homosexuality criminalization policies, and increase investment in MSM-specific HIV services.

Investment and deregulation in the electricity generation industry

International Nuclear Information System (INIS)

Peluchon, B.

2007-12-01

This work addresses the issue of investment in the electricity generation industry. As the analysis of many crisis which have affected electricity markets shows, there is a systematic under-investment in peak capacity. Electricity prices are not high enough to cover fixed costs of such generators, a phenomenon that has been dubbed 'missing money' in some recent papers (Stoft). The investment decisions of a duo-poly facing random demand are then compared to those of a public monopoly. The results are that no prices may be high enough to solve the 'missing money' problem, since the duo-poly is able to exercise market power in order to maximize his profit. This results systematically in fewer peak capacity in the duo-poly case than in the public monopoly case. This remains true in the case of a n-oligopoly. The necessity of designing a mechanism remunerating capacity is thus demonstrated. Capacity markets are then analysed in the light of those results. What appears is that operating reserves are a public good and, as such, prevents capacity markets to solve the 'missing money' problem. This casts a shadow on the pursuit of deregulation in the electricity industry. (author)

Remaining in an Abusive Relationship: An Investment Model Analysis of Nonvoluntary Dependence.

Science.gov (United States)

Rusbult, Caryl E.; Martz, John M.

1995-01-01

Analyzes the nature of interdependence in ongoing relationships, using an investment model to understand decisions to remain in abusive relationships. Found that feelings of commitment were greater among women who had poorer-quality economic alternatives, were more heavily invested in their relationship, and who experienced less dissatisfaction…

Beryllium-aluminum alloys for investment castings

International Nuclear Information System (INIS)

Nachtrab, W.T.; Levoy, N.

1997-01-01

Beryllium-aluminum alloys containing greater than 60 wt % beryllium are very favorable materials for applications requiring light weight and high stiffness. However, when produced by traditional powder metallurgical methods, these alloys are expensive and have limited applications. To reduce the cost of making beryllium-aluminum components, Nuclear Metals Inc. (NMI) and Lockheed Martin Electronics and Missiles have recently developed a family of patented beryllium-aluminum alloys that can be investment cast. Designated Beralcast, the alloys can achieve substantial weight savings because of their high specific strength and stiffness. In some cases, weight has been reduced by up to 50% over aluminum investment casting. Beralcast is now being used to make thin wall precision investment castings for several advanced aerospace applications, such as the RAH-66 Comanche helicopter and F-22 jet fighter. This article discusses alloy compositions, properties, casting method, and the effects of cobalt additions on strength

Exploring co-investments in sustainable land management in the Central Rift Valley of Ethiopia

NARCIS (Netherlands)

Adimassu Teferi, Z.; Kessler, A.; Stroosnijder, L.

2013-01-01

In Ethiopia, not only farmers but also the public and private sector partners are still hesitant to invest in sustainable land management (SLM). This study focuses on the Central Rift Valley and explores the potential for co-investments in SLM, where public and private sector partners support

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)

Developing public health performance measures to capture the effects of transportation facilities on multiple public health outcomes.

Science.gov (United States)

2016-04-15

Increasingly, federal transportation and public health agencies are working together to identify : transportation investments that improve public health. Investments in transportation : infrastructure represent one method to utilize transportation to...

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

Investing for a better environment

International Nuclear Information System (INIS)

1993-01-01

To address the broad range of environmental issues in central and eastern Europe, including the former Soviet Union, the European Bank for Reconstruction and Development has adopted a twofold operational strategy: a regional programme approach and a project-based approach. The Bank is undertaking studies of environmental legislation and standards, and of training, liability and public participation requirements in the countries where it operates. It has also initiated environmental assessments in sectors where future investment projects are anticipated. The principal objectives of this work are to assist the countries of central and eastern Europe, those who wish to invest in these countries and Bank staff in their environmental appraisal work

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.

Using Health Care Utilization and Publication Patterns to Characterize the Research Portfolio and to Plan Future Research Investments.

Directory of Open Access Journals (Sweden)

Luba Katz

Full Text Available Government funders of biomedical research are under increasing pressure to demonstrate societal benefits of their investments. A number of published studies attempted to correlate research funding levels with the societal burden for various diseases, with mixed results. We examined whether research funded by the Department of Veterans Affairs (VA is well aligned with current and projected veterans' health needs. The organizational structure of the VA makes it a particularly suitable setting for examining these questions.We used the publication patterns and dollar expenditures of VA-funded researchers to characterize the VA research portfolio by disease. We used health care utilization data from the VA for the same diseases to define veterans' health needs. We then measured the level of correlation between the two and identified disease groups that were under- or over-represented in the research portfolio relative to disease expenditures. Finally, we used historic health care utilization trends combined with demographic projections to identify diseases and conditions that are increasing in costs and/or patient volume and consequently represent potential targets for future research investments.We found a significant correlation between research volume/expenditures and health utilization. Some disease groups were slightly under- or over-represented, but these deviations were relatively small. Diseases and conditions with the increasing utilization trend at the VA included hypertension, hypercholesterolemia, diabetes, hearing loss, sleeping disorders, complications of pregnancy, and several mental disorders.Research investments at the VA are well aligned with veteran health needs. The VA can continue to meet these needs by supporting research on the diseases and conditions with a growing number of patients, costs of care, or both. Our approach can be used by other funders of disease research to characterize their portfolios and to plan research

Using Health Care Utilization and Publication Patterns to Characterize the Research Portfolio and to Plan Future Research Investments.

Science.gov (United States)

Katz, Luba; Fink, Rebecca V; Bozeman, Samuel R; McNeil, Barbara J

2014-01-01

Government funders of biomedical research are under increasing pressure to demonstrate societal benefits of their investments. A number of published studies attempted to correlate research funding levels with the societal burden for various diseases, with mixed results. We examined whether research funded by the Department of Veterans Affairs (VA) is well aligned with current and projected veterans' health needs. The organizational structure of the VA makes it a particularly suitable setting for examining these questions. We used the publication patterns and dollar expenditures of VA-funded researchers to characterize the VA research portfolio by disease. We used health care utilization data from the VA for the same diseases to define veterans' health needs. We then measured the level of correlation between the two and identified disease groups that were under- or over-represented in the research portfolio relative to disease expenditures. Finally, we used historic health care utilization trends combined with demographic projections to identify diseases and conditions that are increasing in costs and/or patient volume and consequently represent potential targets for future research investments. We found a significant correlation between research volume/expenditures and health utilization. Some disease groups were slightly under- or over-represented, but these deviations were relatively small. Diseases and conditions with the increasing utilization trend at the VA included hypertension, hypercholesterolemia, diabetes, hearing loss, sleeping disorders, complications of pregnancy, and several mental disorders. Research investments at the VA are well aligned with veteran health needs. The VA can continue to meet these needs by supporting research on the diseases and conditions with a growing number of patients, costs of care, or both. Our approach can be used by other funders of disease research to characterize their portfolios and to plan research investments.

12 CFR 208.22 - Community development and public welfare investments.

Science.gov (United States)

2010-01-01

... economic development; (D) Investing in, developing, or otherwise assisting job training or placement... entity located in a low- or moderate-income area if the entity creates long-term employment opportunities... company itself in satisfaction of a debt previously contracted. ...

A conceptual decision model for investment project appraisal and selection procedure

NARCIS (Netherlands)

Vajarothai, Pintip; Al-Jibouri, Saad H.S.; Halman, Johannes I.M.

2015-01-01

Organisations in public or private sector invest in projects to meet strategic objectives; to solve a problem, respond to specific needs or to realize investment opportunities. Governments, particularly in developing countries, face increasing demands of society for more and better services.

For two regional health foundations, returns from the Kentucky Health Issues Poll are worth the investments.

Science.gov (United States)

Walsh, Sarah E; Myers, Gail; Chubinski, Jennifer; Zepeda, Susan G

2014-09-01

With finite resources to advance their missions, regional health foundations should critically evaluate the investments they make. This article reviews the costs and associated benefits of large-scale public opinion polling--specifically, the annual Kentucky Health Issues Poll, which is sponsored by the Foundation for a Healthy Kentucky and Interact for Health, formerly the Health Foundation of Greater Cincinnati. In addition to the information generated by the poll, the sponsoring foundations have benefited from increased name recognition and credibility with key stakeholders, including state policy makers and the media. Furthermore, jointly funding the poll has strengthened the relationship between the sponsoring foundations and has fostered other key collaborations. We find that the benefits from this poll more than justify its modest costs ($120,000 per year) and hope that this assessment may prove informative for other funders considering similar investments. Project HOPE—The People-to-People Health Foundation, Inc.

Investing in acute health services: is it time to change the paradigm?

Science.gov (United States)

Kerr, Rhonda; Hendrie, Delia V; Moorin, Rachael

2014-11-01

Capital is an essential enabler of contemporary public hospital services funding hospital buildings, medical equipment, information technology and communications. Capital investment is best understood within the context of the services it is designed and funded to facilitate. The aim of the present study was to explore the information on capital investment in Australian public hospitals and the relationship between investment and acute care service delivery in the context of efficient pricing for hospital services. This paper examines the investment in Australian public hospitals relative to the growth in recurrent hospital costs since 2000-01 drawing from the available data, the grey literature and the reports of six major reviews of hospital services in Australia since 2004. Although the average annual capital investment over the decade from 2000-01 represents 7.1% of recurrent expenditure on hospitals, the most recent estimate of the cost of capital consumed delivering services is 9% per annum. Five of six major inquiries into health care delivery required increased capital funding to bring clinical service delivery to an acceptable standard. The sixth inquiry lamented the quality of information on capital for public hospitals. In 2012-13, capital investment was equivalent to 6.2% of recurrent expenditure, 31% lower than the cost of capital consumed in that year. Capital is a vital enabler of hospital service delivery and innovation, but there is a poor alignment between the available information on the capital investment in public hospitals and contemporary clinical requirements. The policy to have capital included in activity-based payments for hospital services necessitates an accurate value for capital at the diagnosis-related group (DRG) level relevant to contemporary clinical care, rather than the replacement value of the asset stock. WHAT IS KNOWN ABOUT THE TOPIC?: Deeble's comprehensive hospital-based review of capital investment and costs, published in

Private investment in hospitals: a comparison of three healthcare systems and possible implications for real estate strategies.

Science.gov (United States)

van der Zwart, Johan; van der Voordt, Theo; Jonge, Hans de

2010-01-01

This article explores lessons to be learned from three different healthcare systems and the possible implications for the management of healthcare real estate, in particular in connection to the Dutch system. It discusses similarities and differences among the different systems, in search of possible consequences on cost, financing, and design innovation. To keep healthcare affordable in the future, the Dutch government is currently in the process of changing legislation to move from a centrally directed system to a so-called regulated market system. The deregulation of real estate investment that accompanies the new healthcare delivery system offers healthcare organizations new opportunities, but also more responsibility and greater risk in return on investment. Consequently, healthcare organizations must find new methods of financing. Private investment is one of the options. Three healthcare systems were analyzed on the basis of a literature review and document analysis, then schematized to show similarities and dissimilarities with regard to private investment in hospitals. Observations are based on a selection of recently published articles on private-sector financing and its implications for healthcare real estate decision making in the Netherlands, the United Kingdom, and Germany. The strengths and weaknesses of three healthcare systems with differing proportions of private and public investment in hospitals were explored. Research revealed a gap between intended effects and actual effects with regard to quality and cost. Costly private finance does not necessarily lead to "value for money." Transferring real estate decisions to private investors decreases the influence of the healthcare organization on future costs and quality. The three healthcare systems show substantial differences between public and private responsibilities. Less governmental involvement affords both opportunities and risks for hospitals. Private investment may lead to innovation

Design, Development and Implementation of Decision Support Systems for Private Equity Investment

OpenAIRE

Vroomen, Paul

2017-01-01

The objective of this research is to design, develop and implement an intelligent decision support system (IDSS) for making rational private equity investment decisions. (Private equity investments are capital investments in enterprises that are not traded on public equity markets; they include Equity Buy-Out, Venture Capital, and the new Equity Crowd Funding (ECF) asset classes). The design and development of the IDSS requires the integration of investment science (valuation theory, portfoli...

FACTORS DETERMINING THE INVESTMENT ATTRACTIVENESS OF THE REGION

Directory of Open Access Journals (Sweden)

O. I. Avtsinov

2014-01-01

Full Text Available Summary.In the article we can see relevance of the research aimed at creating a favorable investment climate in the country and its regions, as a necessary condition for solving the problems of modernization of industrial production, the introduction of scientific and technological progress in all spheres of public life, the implementation of large-scale social and productive programs. In the study we justify the theoretical principles and reveal the essence of the relationship concepts: investment climate, investment attractiveness and investment activity. It is proved that the investment attractiveness should be considered as a sign of factorial and important component of the investment climate in the region, and investment activity as a sign score. In the study we can see a wide range of factors shaping favorable conditions for investment activities. The author focuses on the importance of non-traditional factors shaping the investment attractiveness of such as reducing the time to connect to power grid, information communication, improvement of tax reporting procedures, clarity of customs work, the introduction of regulations for obtaining permits for construction of facilities and reducing the number of required documents. This article analyzes of the indices and the key factors of investment attractiveness of the Voronezh region, which attract investment, exceeding the national average. The main ones are the development of new industrial parks with good transport, engineering, business infrastructure. Investors in the region have favorable conditions to carry on business on the prepared sites with painted communications, junctions, allowing them to reduce production costs, while correspondingly increasing the investment attractiveness of the area. Success of the attracting investment in the Voronezh region is largely due to the introduction standard of the executive bodies of state power, including 15 documents designed to make the

Measuring Social Capital Investment: Scale Development and Examination of Links to Social Capital and Perceived Stress

Science.gov (United States)

Wegner, Rhiana; Gong, Jie; Fang, Xiaoyi; Kaljee, Linda

2014-01-01

Individuals with greater social capital have better health outcomes. Investment in social capital likely increases one’s own social capital, bearing great implications for disease prevention and health promotion. In this study, the authors developed and validated the Social Capital Investment Inventory (SCII). Direct effects of social capital investment on perceived stress, and indirect effects through social capital were examined. 397 Participants from Beijing and Wuhan, China completed surveys. Analyses demonstrated that the SCII has a single factor structure and strong internal consistency. Structural equation modeling showed that individuals who invested more in social capital had greater bonding social capital, and subsequently less perceived stress. Results suggest that disease prevention and health promotion programs should consider approaches to encourage social capital investment; individuals may be able to reduce stress by increasing their investment in social capital. Future research is needed to provide additional empirical support for the SCII and observed structural relationships. PMID:25648725

Investment Portfolios in an Emerging Economy: What Drives Portfolio’s Diversification?

Directory of Open Access Journals (Sweden)

Pedro Luiz Albertin Bono Milan

2017-09-01

Full Text Available This study sheds light on the investment portfolio’s decisions through behavioral insights. The study intends to identify personal characteristics that drive the level of diversification and lead investors to allocate resources in risky assets in an emergent economy, deepening the discussion about investment decisions and bringing some behavioral insights to the debate. The study has a unique and heterogeneous database of individual financial allocations from Brazil, one of the largest emergent economies. The characteristics of Brazilian investors play an important role in investment decisions, high educated and married investors tend to display diversified portfolios. To invest in risky assets, male investors have a 43% greater likelihood of investing in risky assets than females, highlighting the discussion on gender and investment decisions. Moreover, married investors tend to exhibit conservative portfolios. We observed that traditional investors are under-diversified, allocating primarily in traditional and safety assets. The results suggest that the investment decisions can be subject to psychological biases defined in behavioral finance theory.

Practitioner perspectives matter: Public policy and private investment in the U.S. electric power sector

Science.gov (United States)

Barradale, Merrill Jones

This dissertation examines the influence of attitudes, beliefs, and preferences of energy industry practitioners on investment decision-making with regard to fuel choice for new electric power plants. The conclusions are based on in-depth interviews and an extensive online survey I conducted of 600-800 energy professionals in the U.S. power sector. Chapter 1 analyzes the impact of policy uncertainty on investment decision-making in renewable energy, using the federal production tax credit (PTC) and wind energy investment as an example. It is generally understood that the pattern of repeated expiration and short-term renewal of the PTC causes a boom-bust cycle in wind power plant investment in the U.S. This on-off pattern is detrimental to the wind industry, since ramp-up and ramp-down costs are high, and players are deterred from making long-term investments. The widely held belief that the severe downturn in investment during "off" years implies that wind power is unviable without the PTC turns out to be unsubstantiated: this chapter demonstrates that it is not the absence of the PTC that causes the investment downturn during "off" years, but rather the uncertainty over its return. Specifically, it is the dynamic of power purchase agreement negotiations in the face of PTC renewal uncertainty that drives investment volatility. This suggests that reducing regulatory uncertainty is a crucial component of effective renewable energy policy. The PTC as currently structured is not the only means, existing or potential, for encouraging wind power investment. Using data from my survey, various alternative policy incentives are considered and compared in terms of their perceived reliability for supporting long-term investment. Chapter 2 introduces the concept of expected payment of carbon as a factor in investment decision-making. The notion of carbon risk (the financial risk associated with CO2 emissions under potential climate change policy) is usually incorporated into

Developing 2 C-compatible investment criteria

Energy Technology Data Exchange (ETDEWEB)

Roeser, Frauke [NewClimate - Institute for Climate Policy and Global Sustainability gGmbH, Bonn (Germany); Weischer, Lutz [Germanwatch e.V., Koeln (Germany); Thomae, Jakob [2degrees Investing Initiative, New York, NY (United States); Hoehne, Niklas; Hagemann, Markus; El Alaoui, Alexander; Bals, Christoph; Eckstein, David; Kreft, Soenke; Rosse, Morten

2015-11-30

This report studies the development of criteria for assessing the compatibility of financial investments with the international goal to limit global temperature increase to below 2 C above pre-industrial levels. The findings are intended as a starting point and a key input for a longer term process to develop consensus-based 2 C investing criteria. The focus here is placed on investments in projects and physical assets, in particular of development and climate finance organisations. In order to limit global temperature increase to 2 C, global greenhouse gas (GHG) emissions will have to be reduced significantly, eventually to zero, during the course of this century. This requires shifting capital from high to low carbon investments as well as significant capital mobilisation for investments in 2 C-compatible infrastructure. Given the long lifetime of physical assets, and the urgency of decarbonisation over the coming decades, this needs to begin today. Public financial institutions can play a prominent role in contributing to aligning investment flows with the 2 C limit, as well as in closing the current infrastructure investment gap, responding to their explicit or implicit climate mandates and leadership role in the finance sector. The majority of international financial institutions integrate climate considerations into their finance decisions to some degree, and are familiar with different types of criteria, including positive and negative lists, qualitative and quantitative benchmarks, and the use of shadow carbon pricing. However, current approaches do not link to the 2 C limit. 2 C investment criteria are therefore needed to guide investors in this regard. Such criteria may also support other purposes, including an understanding of climate risks and improved reporting and accountability.

Developing 2 C-compatible investment criteria

International Nuclear Information System (INIS)

Roeser, Frauke; Weischer, Lutz; Thomae, Jakob; Hoehne, Niklas; Hagemann, Markus; El Alaoui, Alexander; Bals, Christoph; Eckstein, David; Kreft, Soenke; Rosse, Morten

2015-01-01

This report studies the development of criteria for assessing the compatibility of financial investments with the international goal to limit global temperature increase to below 2 C above pre-industrial levels. The findings are intended as a starting point and a key input for a longer term process to develop consensus-based 2 C investing criteria. The focus here is placed on investments in projects and physical assets, in particular of development and climate finance organisations. In order to limit global temperature increase to 2 C, global greenhouse gas (GHG) emissions will have to be reduced significantly, eventually to zero, during the course of this century. This requires shifting capital from high to low carbon investments as well as significant capital mobilisation for investments in 2 C-compatible infrastructure. Given the long lifetime of physical assets, and the urgency of decarbonisation over the coming decades, this needs to begin today. Public financial institutions can play a prominent role in contributing to aligning investment flows with the 2 C limit, as well as in closing the current infrastructure investment gap, responding to their explicit or implicit climate mandates and leadership role in the finance sector. The majority of international financial institutions integrate climate considerations into their finance decisions to some degree, and are familiar with different types of criteria, including positive and negative lists, qualitative and quantitative benchmarks, and the use of shadow carbon pricing. However, current approaches do not link to the 2 C limit. 2 C investment criteria are therefore needed to guide investors in this regard. Such criteria may also support other purposes, including an understanding of climate risks and improved reporting and accountability.

Private health care sector investment in Brazil: opportunities and obstacles.

Science.gov (United States)

Brandt, Reynaldo

2003-01-01

The Brazilian health system is based upon the constitutional right formulated in 1988, according to which health is the peoples' right and duty of the State. So being, it is essentially the government's responsibility, expressed in the so-called Sistema Unico de Saúde--SUS (single health system) Since its creation, however, it admits the existence of a supplementary health system, left to the private sector. In general terms, the public system is considered unsatisfactory in the services it renders. Its resources are distributed heterogeneously, favoring centers of advanced medical practice, to the detriment of basic health care. The supplementary system is considered of better quality, however with great variations and frequent accusations of being essentially profit driven, instead of being driven to the needs of the assisted population. The growing search for health plans is a direct consequence of the image perceived by the population regarding the quality and accessibility of the public services, as well as of the peoples' growing consciousness of their needs, rights and duties as citizens. The need for continuous quality improvement and cost reduction offers numberless opportunities for actions and investments. Initiatives to identify and implement the best medical practices, medical guidelines and actions are essential regarding those illnesses which are most frequent, of higher cost and of greater risk. Health plans and healthcare providers will necessarily have to focus on their common client. Therefore, organizations must be created in order to develop initiatives aimed to the quality of patient care, as well as to the collection and dissemination of data regarding the production and results of the main service providers. Consequently, immense opportunities are being opened for investments in the area of Information Technology, collection, analysis, and data dissemination. This paper analyses the main trends in the Brazilian health sector and from the

Resemblance and investment in children.

Science.gov (United States)

Dolinska, Barbara

2013-01-01

According to evolutionary explanations men hardly ever are absolutely certain about their biological fatherhood therefore they must seek various sources of information to subjectively establish whether they are the genetic fathers of the children they raise. Apicella and Marlowe (2004) showed that fathers who perceived greater similarity between their children and themselves were willing to invest more resources (e.g., time, money, care) in their offspring presumably because the perceived resemblance indicated to the fathers their genetic relatedness with their children. The present study extended the design of Apicella and Marlowe's original study and included both fathers and mothers as participants. Parents were recruited by a female confederate at the airport and at the railway station in Wroclaw (Poland). Multiple regression analyses showed that perceived resemblance predicted parental investment in the child for both men and women. The fact that mothers' declarations of investment in their children also depended on the perceived resemblance factor is not consistent with evolutionary formulations delineated by Apicella and Marlowe (2004; 2007). Future studies must resolve the issue of whether the resemblance-investment relation in fathers results from men relaying on child's resemblance to themselves as an indicator of their own biological paternity, or whether it results from the more parsimonious phenomenon that people in general are attracted more to other people who are similar to them.

Assessment of the Effectiveness of Public Investment in the Increase in Life Expectancy

Directory of Open Access Journals (Sweden)

Vadim Nikolaevich Kabanov

2015-11-01

Full Text Available The beginning of the 21st century was marked by the emergence of national projects in our country, which exactly correspond to the private integral indicators used by the UN in calculating the index of human capital development since 1996. The national project “Health care” is aimed at increasing life expectancy, “Education” – expanding the population’s access to knowledge, “Doubling GDP” – raising people’s income. Attaching equal importance to each indicator, the author of the article set a task to consider the economic efficiency of budgetary funds allocated to improve the nation’s health. The author assumed a proportion as the main hypotheses about the nature of correlation between life expectancy (H and expenditures on health care (G; the calculated coefficients of correlation (Pearson, r of dependence H = f(G for all RF subjects for 2003–2013 (0.49 < r < or = 0.97 confirmed the existence of correlation. The author proposed to use the slope of the straight H = f(G to x-axis as a quantitative value, indicating the economic efficiency of the transformation of budget expenditures to the increase in life expectancy. This indicator means that the achieved increase in life expectancy (Y axis motion depending on changes in budget expenditures on health (axis motion. The proposed indicator to estimate the socio-economic effectiveness of state investments in domestic health care guarantees the most objective and clear assessment, conducted on the basis of standard methods of mathematical statistics, ensuring a high accuracy of the calculations. The rate of rise in life expectancy, depending on the volume of public investment in health care, can be used for the scientific justification, for example, of the degree of Federal budget participation in the regional programs to promote national health

78 FR 38019 - Agency Information Collection Activities; Comment Request; Application for the Investing in...

Science.gov (United States)

2013-06-25

...; Comment Request; Application for the Investing in Innovation (i3) Grants Program AGENCY: Office of... notice will be considered public records. Title of Collection: Application for the Investing in... Investing in Innovation (i3) Fund was established under section 14007 of the American Recovery and...

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.

STATE INVESTMENT IN SCIENCE AND SCIENTIFIC PRODUCTIVITY OF UNIVERSITIES

Directory of Open Access Journals (Sweden)

Domagoj Karacic

2016-06-01

Full Text Available State investment in service activities of the public sector, as well as the financial returns analyzed from the aspect of service effectiveness and utilization of public goods, can be considered as one of the most significant dilemmas, especially in the field of education. When analyzing state investments, through investment in education and development of the university, we can conclude that state investments in scientific productivity of universities fall into one of the main future frameworks of measurability of universities efficiency. This criterion cannot be taken as the most important since universities are fundamentally divided into teaching and research activities. However, the concept of determination of the productivity of universities, from the aspect of the scientific activities of the teaching staff, has an increasingly important role due to the specified global criteria and conditions for career advancement of the teaching staff and positioning of the university in the education market. This paper intends to give the overview of the current situation of universities in Croatia, as well as the trends that would point out state role in financing of universities and indicate coherent criteria regarding the financing of scientific productivity of teaching stuff.

Valuating the Investment Efficiency of Distribution Companies

Directory of Open Access Journals (Sweden)

M. Karajica

2007-01-01

Full Text Available The task of this study is to valuate the investment efficiency of distribution companies. Although a series of publications and studies has been dedicated to this topic, it is difficult to find a general consensus in defining the investment efficiency of a company. Nevertheless if we simplify an imaginary  company as a production unit in which a series of actions transforms inputs to outputs, efficiency can be understood as like an effort to achieve maximum value of the outputs together with minimum usage of inputs, where the inputs constitute investments by a company. The investment efficiency of a company can be measured by expressing the absolute values of selected inputs and outputs, a relative expression of inputs and outputs, and perhaps an expression of the difference between them. However, an examination of the efficiency of a certain company is impossible without a valuation of other companies. In view of the amount of benchmarking, it should be emphasized, that this study is dedicated to a certain category of benchmarking, which we may term investment benchmarking. This benchmarking can be defined as a comparison of companies in terms investment efficiency. The purpose of this comparison is not only to investigate levels of investment efficiency and to relate them to other companies from the same branch, but also to locate the greatest efficiency and indicate potential improvement. 

Funding infectious disease research: a systematic analysis of UK research investments by funders 1997-2010.

Directory of Open Access Journals (Sweden)

Joseph R Fitchett

Full Text Available Research investments are essential to address the burden of disease, however allocation of limited resources is poorly documented. We systematically reviewed the investments awarded by funding organisations to UK institutions and their global partners for infectious disease research.Public and philanthropic investments for the period 1997 to 2010 were included. We categorised studies by infectious disease, cross-cutting theme, and by research and development value chain, reflecting the type of science. We identified 6165 funded studies, with a total research investment of UK £2.6 billion. Public organisations provided £1.4 billion (54.0% of investments compared with £1.1 billion (42.4% by philanthropic organisations. Global health studies represented an investment of £928 million (35.7%. The Wellcome Trust was the leading investor with £688 million (26.5%, closely followed by the UK Medical Research Council (MRC with £673 million (25.9%. Funding over time was volatile, ranging from ∼£40 million to ∼£160 million per year for philanthropic organisations and ∼£30 million to ∼£230 million for public funders.Infectious disease research funding requires global coordination and strategic long-term vision. Our analysis demonstrates the diversity and inconsistent patterns in investment, with volatility in annual funding amounts and limited investment for product development and clinical trials.

Funding infectious disease research: a systematic analysis of UK research investments by funders 1997-2010.

Science.gov (United States)

Fitchett, Joseph R; Head, Michael G; Cooke, Mary K; Wurie, Fatima B; Atun, Rifat

2014-01-01

Research investments are essential to address the burden of disease, however allocation of limited resources is poorly documented. We systematically reviewed the investments awarded by funding organisations to UK institutions and their global partners for infectious disease research. Public and philanthropic investments for the period 1997 to 2010 were included. We categorised studies by infectious disease, cross-cutting theme, and by research and development value chain, reflecting the type of science. We identified 6165 funded studies, with a total research investment of UK £2.6 billion. Public organisations provided £1.4 billion (54.0%) of investments compared with £1.1 billion (42.4%) by philanthropic organisations. Global health studies represented an investment of £928 million (35.7%). The Wellcome Trust was the leading investor with £688 million (26.5%), closely followed by the UK Medical Research Council (MRC) with £673 million (25.9%). Funding over time was volatile, ranging from ∼£40 million to ∼£160 million per year for philanthropic organisations and ∼£30 million to ∼£230 million for public funders. Infectious disease research funding requires global coordination and strategic long-term vision. Our analysis demonstrates the diversity and inconsistent patterns in investment, with volatility in annual funding amounts and limited investment for product development and clinical trials.

Quantifying Transmission Investment in Malaria Parasites.

Directory of Open Access Journals (Sweden)

Megan A Greischar

2016-02-01

Full Text Available Many microparasites infect new hosts with specialized life stages, requiring a subset of the parasite population to forgo proliferation and develop into transmission forms. Transmission stage production influences infectivity, host exploitation, and the impact of medical interventions like drug treatment. Predicting how parasites will respond to public health efforts on both epidemiological and evolutionary timescales requires understanding transmission strategies. These strategies can rarely be observed directly and must typically be inferred from infection dynamics. Using malaria as a case study, we test previously described methods for inferring transmission stage investment against simulated data generated with a model of within-host infection dynamics, where the true transmission investment is known. We show that existing methods are inadequate and potentially very misleading. The key difficulty lies in separating transmission stages produced by different generations of parasites. We develop a new approach that performs much better on simulated data. Applying this approach to real data from mice infected with a single Plasmodium chabaudi strain, we estimate that transmission investment varies from zero to 20%, with evidence for variable investment over time in some hosts, but not others. These patterns suggest that, even in experimental infections where host genetics and other environmental factors are controlled, parasites may exhibit remarkably different patterns of transmission investment.

Does Money Grow on Trees? The Diversification Properties of US Timberland Investments

NARCIS (Netherlands)

Scholtens, Bert; Spierdijk, Laura

This paper quantifies the diversification potential of timberland investments in a meanvariance framework. The starting point is a broad set of benchmark assets represented by various indexes. Including publicly traded timberland investments in the portfolio does not significantly increase

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.

Estimating the health benefits of planned public transit investments in Montreal.

Science.gov (United States)

Tétreault, Louis-François; Eluru, Naveen; Hatzopoulou, Marianne; Morency, Patrick; Plante, Celine; Morency, Catherine; Reynaud, Frederic; Shekarrizfard, Maryam; Shamsunnahar, Yasmin; Faghih Imani, Ahmadreza; Drouin, Louis; Pelletier, Anne; Goudreau, Sophie; Tessier, Francois; Gauvin, Lise; Smargiassi, Audrey

2018-01-01

Since public transit infrastructure affects road traffic volumes and influences transportation mode choice, which in turn impacts health, it is important to estimate the alteration of the health burden linked with transit policies. We quantified the variation in health benefits and burden between a business as usual (BAU) and a public transit (PT) scenarios in 2031 (with 8 and 19 new subway and train stations) for the greater Montreal region. Using mode choice and traffic assignment models, we predicted the transportation mode choice and traffic assignment on the road network. Subsequently, we estimated the distance travelled in each municipality by mode, the minutes spent in active transportation, as well as traffic emissions. Thereafter we estimated the health burden attributed to air pollution and road traumas and the gains associated with active transportation for both the BAU and PT scenarios. We predicted a slight decrease of overall trips and kilometers travelled by car as well as an increase of active transportation for the PT in 2031 vs the BAU. Our analysis shows that new infrastructure will reduce the overall burden of transportation by 2.5 DALYs per 100,000 persons. This decrease is caused by the reduction of road traumas occurring in the inner suburbs and central Montreal region as well as gains in active transportation in the inner suburbs. Based on the results of our study, transportation planned public transit projects for Montreal are unlikely to reduce drastically the burden of disease attributable to road vehicles and infrastructures in the Montreal region. The impact of the planned transportation infrastructures seems to be very low and localized mainly in the areas where new public transit stations are planned. Copyright © 2017 Elsevier Inc. All rights reserved.

Driven to Support: Individual- and County-Level Factors Associated With Public Support for Active Transportation Policies.

Science.gov (United States)

Cradock, Angie L; Barrett, Jessica L; Chriqui, Jamie F; Evenson, Kelly R; Goins, Karin Valentine; Gustat, Jeanette; Heinrich, Katie M; Perry, Cynthia K; Scanze, Michele; Schmid, Thomas L; Tabak, Rachel G; Umstattd Meyer, M Renee; Valko, Cheryl

2018-03-01

To assess predictors of stated support for policies promoting physically active transportation. Cross-sectional. US counties selected on county-level physical activity and obesity health status. Participants completing random-digit dialed telephone survey (n = 906). Survey measures assessed stated support for 5 policies to promote physically active transportation, access to active transportation facilities, and time spent in a car. County-level estimates included household car dependence and funding for bicycle-pedestrian projects. Multivariable generalized linear mixed models using binary distribution and logit link, accounting for clustering within county. Respondents supported policies for accommodating bicyclists and pedestrians through street improvements (89%), school active transportation programs (75%), employer-funded active commuting incentives (67%), and allocation of public funding (68%) and tax support (56%) for building and maintaining public transit. Residents spending >2 h/d (vs public transit (OR: 1.85; CI: 1.24-2.77) improvements. Residents in counties investing >$1.6 million in bicycle and pedestrian improvements expressed greater support for funding (OR: 1.71; CI: 1.04-2.83) and tax increases (OR: 1.73; CI: 1.08-2.75) for transit improvements compared to those with lower prior investments (transportation is higher where relevant investments in active transportation infrastructure are large (>$1.6 M), public transit is nearby, and respondents drive >2 h/d.

Monetary policy and dynamic adjustment of corporate investment: A policy transmission channel perspective

Directory of Open Access Journals (Sweden)

Qiang Fu

2015-06-01

Full Text Available We investigate monetary policy effects on corporate investment adjustment, using a sample of China’s A-share listed firms (2005–2012, under an asymmetic framework and from a monetary policy transmission channel perspective. We find that corporate investment adjustment is faster in expansionary than contractionary monetary policy periods. Monetary policy has a significant effect on adjustment speed through monetary and credit channels. An increase in the growth rate of money supply or credit accelerates adjustment. Both effects are significantly greater during tightening than expansionary periods. The monetary channel has significant asymmetry, whereas the credit channel has none. Leverage moderates the relationship between monetary policy and adjustment, with a greater effect in expansionary periods. This study enriches the corporate investment behavior literature and can help governments develop and optimize macro-control policies.

American Recovery and Reinvestment Act-comparative effectiveness research infrastructure investments: emerging data resources, tools and publications.

Science.gov (United States)

Segal, Courtney; Holve, Erin

2014-11-01

The Recovery Act provided a substantial, one-time investment in data infrastructure for comparative effectiveness research (CER). A review of the publications, data, and tools developed as a result of this support has informed understanding of the level of effort undertaken by these projects. Structured search queries, as well as outreach efforts, were conducted to identify and review resources from American Recovery and Reinvestment Act of 2009 CER projects building electronic clinical data infrastructure. The findings from this study provide a spectrum of productivity across a range of topics and settings. A total of 451 manuscripts published in 192 journals, and 141 data resources and tools were identified and address gaps in evidence on priority populations, conditions, and the infrastructure needed to support CER.

Impacts of Seaport Investment on the Economic Growth

Directory of Open Access Journals (Sweden)

Tahar Ammar Jouili

2016-08-01

Full Text Available The aim of this paper is to estimate the impact of seaports investment on the economic growth. Seaports are seen by many governments as an important factor in the strengthening of the economies. During the last two decades, the Tunisian succeeding governments have been allocating a great amount of money to develop seaport infrastructures. However, the Tunisian economy witnessed fluctuations in the economic growth rates and decrease in the rate of employment during the same period of time. This study used an econometric model by employing the Cobb-Douglas production function. The sample was composed of Tunisia's economic sectors (manufacturing, services and agriculture over the period 1983-2011. The results of the study show that the public investment in seaport infrastructures has apositive influence on Tunisian economic growth. The study also revealed that the biggest beneficiary from the seaport investment infrastructure is the service sector.This paper aims to estimate the impact of seaports investment on the economic growth. The seaports are seen by many governments as an important factor in the strengthening of the economies. During the last two decades, the Tunisian succeeding governments were allocating a great amount of money to develop seaports' infrastructures. However, the Tunisian economy witnessed fluctuating in the economic growth rates and decreased in the rate of employment during the same period of time. This study used an econometric model by employing the Cobb-Douglas production function. The sample composed of Tunisia's economic sectors (manufacturing, services and agriculture over the period 1983-2011. The results of the study show that the public investment in seaports' infrastructures has a positive influence on Tunisian economic growth. The study also revealed that the biggest beneficiary from the seaports investment infrastructure is the services sector.

Considerations on Optimal Financial Invest ment into Infrastructural Facilities

Institute of Scientific and Technical Information of China (English)

无

2002-01-01

The enlargement of government's investment into infrastructural construction is both a help medicine curing economic contraction and an effective measure to accumulate long-term economic growth.. However, the investment by finance into infrastructure also has a problem of optimization and reasonable selection. In view of market economic requirements, the policy direction of financial investment into infrastructural industries must be doing something at the expense of some other things. In the process of the adjustment and optimization of economic structure, state financial investment into infrastructural facilities has to first of all solve the problem of delimitating the best fields and selecting trades. As to the infrastructure facilities producing and selling pure public products, the development must be made by financial investment;As to the production fields of subpublic products, finance should ensure reasonable investment; As to the infrastructural facilities of pure privite production, finance should completely, in principle, pull out and let market supply. On this basis, selections should be made on best capital soureces and investment ways. The capital sources should be mainly from tax and regulational income and direct investment may be made. As to the production fields of most subpublic production, the best capital sources are national debt income and indirect investment may be made. In addition, the optimization of financial investment into infrastructural facilities must reform the managerial system of infrastructural facilities and raise investment efficiency. Only by scientifically selecting and arranging the financing ways and managerial system in investment fields,can the maximum economic efficiency and social welfare results be realized in carrying out financial investment into infrastructural facilities.

Investments in respiratory infectious disease research 1997-2010: a systematic analysis of UK funding.

Science.gov (United States)

Head, Michael G; Fitchett, Joseph R; Cooke, Mary K; Wurie, Fatima B; Hayward, Andrew C; Lipman, Marc C; Atun, Rifat

2014-03-26

Respiratory infections are responsible for a large global burden of disease. We assessed the public and philanthropic investments awarded to UK institutions for respiratory infectious disease research to identify areas of underinvestment. We aimed to identify projects and categorise them by pathogen, disease and position along the research and development value chain. The UK. Institutions that host and carry out infectious disease research. The total amount spent and number of studies with a focus on several different respiratory pathogens or diseases, and to correlate these against the global burden of disease; also the total amount spent and number of studies relating to the type of science, the predominant funder in each category and the mean and median award size. We identified 6165 infectious disease studies with a total investment of £2·6 billion. Respiratory research received £419 million (16.1%) across 1192 (19.3%) studies. The Wellcome Trust provided greatest investment (£135.2 million; 32.3%). Tuberculosis received £155 million (37.1%), influenza £80 million (19.1%) and pneumonia £27.8 million (6.6%). Despite high burden, there was relatively little investment in vaccine-preventable diseases including diphtheria (£0.1 million, 0.03%), measles (£5.0 million, 1.2%) and drug-resistant tuberculosis. There were 802 preclinical studies (67.3%) receiving £273 million (65.2%), while implementation research received £81 million (19.3%) across 274 studies (23%). There were comparatively few phase I-IV trials or product development studies. Global health research received £68.3 million (16.3%). Relative investment was strongly correlated with 2010 disease burden. The UK predominantly funds preclinical science. Tuberculosis is the most studied respiratory disease. The high global burden of pneumonia-related disease warrants greater investment than it has historically received. Other priority areas include antimicrobial resistance (particularly within

Investments in information systems and technology in the healthcare: Project management mediation

Directory of Open Access Journals (Sweden)

Jorge Gomes

2017-03-01

Full Text Available Healthcare organisations must improve their business practices and internal procedures in order to answer the increasing demand of health professionals and the general public for more and better information. Hospitals invest massively in information systems and technology (IS/IT in the hope that these investments will improve healthcare and meet patients’ demands. The main objective of our research is to study how organisational maturity, enhanced by investments in IS/IT, project management and best practices, leads to successful projects in public healthcare organisations. The rational of our model is that organisational maturity has a positive effect on IS/IT project success, and that this success is also positively enhanced by the use of project management practices. We emphasise that this combination of approaches can increase the effectiveness of projects. Furthermore, it can also improve the confidence that the results of investments will meet stakeholders’ expectations.

Public Transportation and Industrial Location Patterns in California

OpenAIRE

Chatman , Daniel; Xu, Ruoying; Park , Janice; Le, Kim

2016-01-01

Public transit investments are a large and growing share of all transportation investments in the state of California, and such critical investments should be evaluated partly on their economic benefits. Taking such benefits into account could alter investment, service, and service restructuring decisions taken by transit agencies in the state. The relationship of public transportation to economic productivity, and spatial patterns of industrial location, is understudied. This project investi...

Updating Financial Ratios: Seeking Greater Understanding, Precision, and Practicality.

Science.gov (United States)

Jenny, Hans H.; Minter, W. John

1993-01-01

Modifications to current methods of calculating and reporting financial ratios are outlined for college managers. The modified ratios, felt to be more realistic, are illustrated with applications in three areas: (1) student revenues; (2) endowment and other investment income; and (3) public and private gifts, grants, and contracts revenue. (MSE)

Climate policy uncertainty and investment risk

Energy Technology Data Exchange (ETDEWEB)

NONE

2007-06-21

Our climate is changing. This is certain. Less certain, however, is the timing and magnitude of climate change, and the cost of transition to a low-carbon world. Therefore, many policies and programmes are still at a formative stage, and policy uncertainty is very high. This book identifies how climate change policy uncertainty may affect investment behaviour in the power sector. For power companies, where capital stock is intensive and long-lived, those risks rank among the biggest and can create an incentive to delay investment. Our analysis results show that the risk premiums of climate change uncertainty can add 40% of construction costs of the plant for power investors, and 10% of price surcharges for the electricity end-users. This publication tells what can be done in policy design to reduce these costs. Incorporating the results of quantitative analysis, this publication also shows the sensitivity of different power sector investment decisions to different risks. It compares the effects of climate policy uncertainty with energy market uncertainty, showing the relative importance of these sources of risk for different technologies in different market types. Drawing on extensive consultation with power companies and financial investors, it also assesses the implications for policy makers, allowing the key messages to be transferred into policy designs. This book is a useful tool for governments to improve climate policy mechanisms and create more certainty for power investors.

Investment in Precious Metals and Stocks

Directory of Open Access Journals (Sweden)

Zbyněk Revenda

2016-08-01

Full Text Available Investment in various assets is associated with returns and risks. Especially precious metals are considered profitable and safe. Our analysis for the United States in 2005 – Q2 2015 demonstrates that it is very questionable. In this period, which included the US financial crisis, precious metals were coupled with a greater price volatility and lower real income than was the case with stocks in the DJIA index. Even over a sufficiently long period, gold and silver were not a good store of value with positive real returns. Moreover, demand deposits were also more profitable than gold in the longer term after 1980. In the long run, contrary to the beliefs, precious metals may not to keep good value in the physical form or in the form of securities linked to the price development of these assets. Commemorative and historical coins with a  numismatic value are the most appropriate investment in precious metals. However, this investment is also associated with some risk.

The Economics of an Investment in Kaizen

Science.gov (United States)

Visuwan, Danupun

2010-10-01

Kaizen has been widely accepted as a continuous process improvement with the gradualist approach. This paper presents the research carried out to explore the pattern of an investment in Kaizen to enhance overall profit. System dynamics-based simulation has been employed with an optimization technique, a Steepest Ascent approach, to improve experimental variables e.g. the amount of spending on prevention and appraisal activities, the time and the amount to reduce the investment which results in maximum Net Present Value (NPV) of profit. The simulation model in this study is based on a Thai automobile manufacturer as a case study company. The result suggests that the investment in Kaizen should spend on activities to eliminate and detect all defects in the early phase and then reduce economically when the process is under controlled. It can be named as the `Hybrid quality improvement', which was proved in this study that it provides greater overall profit than the Stepwise Kaizen and the constant spending. This study also presents the behavior of quality costs and profit against time scale along the different patterns of the investment in Kaizen.

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...

Funding Infectious Disease Research: A Systematic Analysis of UK Research Investments by Funders 1997–2010

Science.gov (United States)

Fitchett, Joseph R.; Head, Michael G.; Cooke, Mary K.; Wurie, Fatima B.; Atun, Rifat

2014-01-01

Background Research investments are essential to address the burden of disease, however allocation of limited resources is poorly documented. We systematically reviewed the investments awarded by funding organisations to UK institutions and their global partners for infectious disease research. Methodology/Principal Findings Public and philanthropic investments for the period 1997 to 2010 were included. We categorised studies by infectious disease, cross-cutting theme, and by research and development value chain, reflecting the type of science. We identified 6165 funded studies, with a total research investment of UK £2.6 billion. Public organisations provided £1.4 billion (54.0%) of investments compared with £1.1 billion (42.4%) by philanthropic organisations. Global health studies represented an investment of £928 million (35.7%). The Wellcome Trust was the leading investor with £688 million (26.5%), closely followed by the UK Medical Research Council (MRC) with £673 million (25.9%). Funding over time was volatile, ranging from ∼£40 million to ∼£160 million per year for philanthropic organisations and ∼£30 million to ∼£230 million for public funders. Conclusions/Significance Infectious disease research funding requires global coordination and strategic long-term vision. Our analysis demonstrates the diversity and inconsistent patterns in investment, with volatility in annual funding amounts and limited investment for product development and clinical trials. PMID:25162631

76 FR 32880 - Encouraging New Markets Tax Credit Non-Real Estate Investments

Science.gov (United States)

2011-06-07

... Encouraging New Markets Tax Credit Non-Real Estate Investments AGENCY: Internal Revenue Service (IRS... markets tax credit. Specifically, this document invites comments from the public on how the new markets tax credit program may be amended to encourage non-real estate investments. The regulations will...

A public policy aid for bioenergy investment: Case study of failed plants

International Nuclear Information System (INIS)

Gonzalez, Asa O.; Karali, Berna; Wetzstein, Michael E.

2012-01-01

Recent failures of renewable energy plants have raised concerns regarding government's role in providing credit subsidies and have harmed the long-run development of renewable energy. The major reason for these failures lies in government loan appraisers not having a model that addresses these root causes and instead relying on traditional net present value (NPV) analysis. What is required is a model representing entrepreneurs' investment decision processes when faced with uncertainty, irreversibility, and flexibility that characterize renewable energy investments. The aim is to develop such a model with a real options analysis (ROA) criterion as the foundation. A case study comparing NPV with ROA decisions for 50 and 100 million gallon ethanol plants is used as a basis for future development of a template government loan appraisers can use for evaluating the feasibility of renewable energy investments. - Highlights: ► The role net present value (NPV) analysis is investigated in failed ethanol plants. ► NPV optimal entry and exit margins are compared to real options approach (ROA). ► The entry–exit margin gap is smaller under the NPV than it is under the ROA. ► Government policymakers employing NPV tend to react aggressively to margin stimuli.

Major indicators of analysis of insurers’ investment activity

Directory of Open Access Journals (Sweden)

O.O. Poplavskyi

2016-12-01

Full Text Available The article is devoted to topical issues of economic nature, selection and use of economic indicators in analysis of insurers’ investment activity. The author determines the main criteria of permissible investment activity, such as different assets covering the insurance reserves and share of various types of investments in assets and capital on the base of the results of summarizing recent public requirements of key banks to insurance companies in Ukraine. The recommendations of the insurers’ analysis approved by the regulatory bodies in Ukraine (the State Commission for Regulation of Financial Services Markets, Belarus (the Ministry of Finance and Poland (the Financial Supervision Authority are not left without author’s attention. According to the results of comparing using of different indicators, like the return on equity and investment, their strength and weaknesses are identified and the improving the scales of their assessment are proposed. The article singles out the main indicators which can be adapted to national features+ and used for management decisions and regulation of investment activities of insurers.

TAX REFORMS AND INVESTMENT IN NIGERIA: AN EMPIRICAL ...

African Journals Online (AJOL)

GRACE

Tax generated revenues are used to finance public utilities, perform social responsibilities and grease the ..... Capital Theory and Investment Behaviours, The American Review,. 53:247-257. ... ESUT Journal of Accounting, 5(2). December ...

Non-Formal Education in International Comparison: Patterns of Participation and Investment in Selected European Countries

Science.gov (United States)

Kaufmann, Katrin

2015-01-01

This investigation focuses on participation and related investment patterns in job related non-formal education (NFE) in selected European countries. Broadening previous research formats of NFE are distinguished by investment including financial and time investments by employers, employees and public authorities. By this, company-sponsored and…

INVESTMENT FUNDS ON ROMANIAN CAPITAL MARKET

Directory of Open Access Journals (Sweden)

Cristian GHEORGHE

2014-05-01

Full Text Available National laws governing collective investment undertakings were updated as a result of European secondary law modernization with a view to approximating the conditions of competition between those undertakings at Community level, while at the same time ensuring more effective and more uniform protection for unit-holders. Such coordination intended to facilitate the removal of the restrictions on the free movement of units of UCITS in the internal market. For the purposes of internal regulation UCITS means an undertaking: (a with the sole object of collective investment in transferable securities or in other liquid financial assets of capital raised from the public and which operate on the principle of risk-spreading; and (b with units which are, at the request of holders, repurchased or redeemed, directly or indirectly, out of those undertakings’ assets. The UCITS may be constituted in accordance with contract law (as common funds managed by management companies, trust law (as unit trusts, or statute (as investment companies. Key investor information should be provided as a specific document to investors, before the subscription of the UCITS, in order to help them to reach informed investment decisions. Investment funds enjoy in Romania a new regulatory framework: the contract of common society hosted by new Civil Code and the new Emergency Ordinance regarding UCITS.

Comment: unethical ethics investment boycotts and abortion.

Science.gov (United States)

Furedi, A

1998-01-01

Ethical investment funds have traditionally boycotted the arms industry, companies known to pollute the environment, and those involved in animal research. However, recent newspaper reports suggest that some investment funds plan to also boycott hospitals and pharmaceutical companies involved in abortion-related activities. Ethical Financial, anti-abortion independent financial advisors, are encouraging a boycott of investment in private hospitals and manufacturers of equipment involved in abortions, and pharmaceutical firms which produce postcoital contraception or conduct embryo research. Ethical Financial claims that Family Assurance has agreed to invest along anti-abortion lines, Aberdeen Investment is already boycotting companies linked to abortion, and Hendersons ethical fund plans to follow suit. There is speculation that Standard Life, the largest mutual insurer in Europe, will also refuse to invest in abortion-related concerns when it launches its ethical fund in the spring. Managers of ethical funds should, however, understand that, contrary to the claims of the anti-choice lobby, there is extensive public support for legal abortion, emergency contraception, and embryo research. Individuals and institutions which contribute to the development of reproductive health care services are working to alleviate the distress of unwanted pregnancy and infertility, laudable humanitarian goals which should be encouraged. Those who try to restrict the development of abortion methods and services simply show contempt for women, treating them as people devoid of conscience who are incapable of making moral choices.

Payoffs for California College Students and Taxpayers from Investing in Student Mental Health

OpenAIRE

Ashwood, J. Scott; Stein, Bradley D.; Briscombe, Brian; Sontag-Padilla, Lisa; Woodbridge, Michelle W.; May, Elizabeth; Seelam, Rachana; Burnam, M. Audrey

2016-01-01

Reports results of a survey to assess the impact of CalMHSA's investments in mental health programs at California public colleges and estimates the return on investment in terms of student use of treatment, graduation rates, and lifetime earnings.

Payoffs for California College Students and Taxpayers from Investing in Student Mental Health.

Science.gov (United States)

Ashwood, J Scott; Stein, Bradley D; Briscombe, Brian; Sontag-Padilla, Lisa; Woodbridge, Michelle W; May, Elizabeth; Seelam, Rachana; Burnam, M Audrey

2016-05-09

Reports results of a survey to assess the impact of CalMHSA's investments in mental health programs at California public colleges and estimates the return on investment in terms of student use of treatment, graduation rates, and lifetime earnings.

Transportation Investment and Job Creation in Minnesota Counties

Science.gov (United States)

2018-01-01

Numerous studies have been conducted about the impact of transportation investment on economic development. These studies typically use a conventional production function model of economic development augmented by a public capital input, such as high...

The Attracting of Foreign Investment in the Russian Economic Development

Directory of Open Access Journals (Sweden)

Sergey I. Girko

2018-03-01

Full Text Available The attracting of foreign investment is a strategic goal of the Russian economy’s development. Direct investment plays a special role in this process providing an access to financial resources, modern technologies, management skills, innovative goods and services as well as contributing to increase of economic competitiveness, sustained growth and improvements in living standards. In this connection, creation of an enabling environment for foreign investors is a priority sector of public investment policy. Based on the analysis of federal and regional forms of supporting investment activities, it can be concluded that the forms associated with budget injections into the economy are dominant. Co-financing of investment projects, government programs to support exports, create infrastructure (technology parks, SEZ infrastructure, TAD, create support centers for entrepreneurs, all this can be called financial stimulation of economic activity and, in particular, investment activity. The study suggest that the state has to go to these costs in connection with the reduction of the investment potential of the private sector, as a result of the economic crisis and international sanctions.

Non-Formal Education in International Comparison: Patterns of Participation and Investment in Selected European Countries

Directory of Open Access Journals (Sweden)

Katrin Kaufmann

2015-12-01

Full Text Available This investigation focuses on participation and related investment patterns in job related non-formal education (NFE in selected European countries. Broadening previous research formats of NFE are distinguished by investment including financial and time investments by employers, employees and public authorities. By this, company-sponsored and individual-financed NFE are distinguished sharply and cases with shared investment between employers and employees (co-financed NFE and between employers, employees and public funding (co-financed pooled NFE are accounted for, additionally. For explaining participation in NFE supply and demand models are referred to. Hypotheses on cross-country differences for investment in NFE refer to the Varieties-of-Capitalism approach and countries are selected representing different varieties of capitalism (Norway, Sweden, Germany, Lithuania, Latvia, Spain, France, UK. Analyses are based on data of the Adult Education Survey (AES 2011/12.

Enhancing SMEs’ Growth by Investing in Organizational Capital

Directory of Open Access Journals (Sweden)

Urban Pauli

2016-09-01

Full Text Available Objective: The objective of this paper is to verify the relationship between the share of investments in organizational capital (OC within the total amount of investments and key performance indicators of SMEs. Research Design & Methods: Quantitative research based on the author’s theoretical model and was conducted on a group of 180 Polish SMEs with the use of a structured questionnaire. To verify the hypothesis measures of dispersion as well as correlation were used. Findings: The share of investments in OC vary at particular growth stages and the highest is in decline stage. Investigated firms invest mostly in 'brand' and 'IT systems'. Investing in OC seems to be important mostly for SMEs that are in the prime stage. In this stage the share of investments in OC is correlated with almost all performance indicators. It suggests that OC can be treated as a source of competitive advantage and firms’ performance. Implications & Recommendations: The appropriate share of investments in particular resources positively impact the effectiveness of decisions aimed at enhancing SMEs growth. Guidelines in what to invest help managers to plan their activities, especially while operating in a rapidly changing environment. Contribution & Value Added: The study contributes to the stream of research devoted to SME growth factors. Despite the fact that there already are publications on the impact of particular resources on organisations’ success or failure, complex studies, including those concerning Polish SMEs, are much needed.

Comparing research investment to United Kingdom institutions and published outputs for tuberculosis, HIV and malaria: a systematic analysis across 1997-2013.

Science.gov (United States)

Head, Michael G; Fitchett, Joseph R; Derrick, Gemma; Wurie, Fatima B; Meldrum, Jonathan; Kumari, Nina; Beattie, Benjamin; Counts, Christopher J; Atun, Rifat

2015-11-04

The "Unfinished Agenda" of infectious diseases is of great importance to policymakers and research funding agencies that require ongoing research evidence on their effective management. Journal publications help effectively share and disseminate research results to inform policy and practice. We assess research investments to United Kingdom institutions in HIV, tuberculosis and malaria, and analyse these by numbers of publications and citations and by disease and type of science. Information on infection-related research investments awarded to United Kingdom institutions across 1997-2010 were sourced from funding agencies and individually categorised by disease and type of science. Publications were sourced from the Scopus database via keyword searches and filtered to include only publications relating to human disease and containing a United Kingdom-based first and/or last author. Data were matched by disease and type of science categories. Investment (United Kingdom pounds) and publications were compared to generate an 'investment per publication' metric; similarly, an 'investment per citation' metric was also developed as a measure of the usefulness of research. Total research investment for all three diseases was £1.4 billion, and was greatest for HIV (£651.4 million), followed by malaria (£518.7 million) and tuberculosis (£239.1 million). There were 17,271 included publications, with 9,322 for HIV, 4,451 for malaria, and 3,498 for tuberculosis. HIV publications received the most citations (254,949), followed by malaria (148,559) and tuberculosis (100,244). According to UK pound per publication, tuberculosis (£50,691) appeared the most productive for investment, compared to HIV (£61,971) and malaria (£94,483). By type of science, public health research was most productive for HIV (£27,296) and tuberculosis (£22,273), while phase I-III trials were most productive for malaria (£60,491). According to UK pound per citation, tuberculosis (£1,797) was the

International Direct Investment and Transboundary Pollution: An Empirical Analysis of Complex Networks

Directory of Open Access Journals (Sweden)

Yuping Deng

2015-04-01

Full Text Available Using complex networks and spatial econometric methods, we empirically test the extent to which a country’s influence and its position in an international investment network affect environmental quality as well as the country’s role in transboundary pollution transfer. The estimated results show that the ties connecting nodes together in an international investment network have significant impacts on global environmental pollution. Additionally, node linkages between developing countries have stronger negative effects on environmental quality than node linkages between developed countries. Moreover, greater node importance and node centrality accelerate the speed and scale of the growth of polluting industries, which allows developed countries to more easily transfer their pollution-intensive industries to developing countries that possess higher node dependency. We also find that the factor endowment effect coexists with the pollution haven effect, the effects of environmental regulation advantage in the international investment network are greater than the impact of factor endowment advantage.

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.

75 FR 39492 - Major Capital Investment Projects

Science.gov (United States)

2010-07-09

... DEPARTMENT OF TRANSPORTATION Federal Transit Administration 49 CFR Part 611 [Docket No. FTA-2010-0009] RIN 2132-AB02 Major Capital Investment Projects AGENCY: Federal Transit Administration (FTA), DOT. ACTION: Public meetings on ANPRM. SUMMARY: This document announces the date, time, and location of an...

75 FR 33757 - Major Capital Investment Projects

Science.gov (United States)

2010-06-15

... DEPARTMENT OF TRANSPORTATION Federal Transit Administration 49 CFR Part 611 [Docket No. FTA-2010-0009] RIN 2132-AB02 Major Capital Investment Projects AGENCY: Federal Transit Administration (FTA), DOT. ACTION: Public meetings on ANPRM. SUMMARY: This document announces the dates, times, and locations of...

Unlocking investment in cities: ELENA-EIB technical assistance facility

International Nuclear Information System (INIS)

Cicmanova, Jana; Garabetian, Thomas

2015-06-01

Energy Cities prepared a review of projects undertaken in the cities of Paris, Malmoe (in association with Lund and Helsingborg), Barcelona, Bristol and Brussels-Capital that received support from the ELENA-EIB facility. The aim of this study is to identify the ways in which technical assistance programs such as ELENA-EIB can help unlock investment in cities. The projects we reviewed (developed by Energy Cities' members) cover a wide array of sectors, from public building refurbishment to public transport or renewable energy production. These five projects illustrate how cities can focus on developing capacity in a long-term perspective, looking at the expected benefits of an investment or a support mechanism beyond that of the project itself. Overall, we found that project development assistance mechanisms such as ELENA can be beneficial to trigger investment for climate action in cities. Cities maximise the benefits of such a program by looking at how their climate-protection actions can generate benefits for the citizens, or how to systematically integrate climate action in other investment projects. Project development assistance (PDA) affects cities by allowing them to develop a new vision of the way they prepare an investment program. The search of synergies and the override of silo mentalities were a core element in the projects we reviewed. Indeed, the support provided by the European Union through ELENA-EIB is used by the local authorities to develop a transversal approach to climate action. The grant provided for PDA and the requirements of the ELENA-EIB facility represent an opportunity for local authorities to set up a new strategy regarding energy efficiency and renewable energy actions. It can be the necessary push for cities and local authorities to change the way they plan their investments, and develop projects to achieve their climate objectives. Besides, the grant is used for building long-term capacity in the development of investment programs

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.

Local investment in renewable energies

International Nuclear Information System (INIS)

Grepmeier, K.; Larsen, J.; Manolakaki, E.; Quantin, J.; Twele, J.

2003-01-01

This document presents european examples on the interest of the local investment, illustrated by cases studies in Germany, Denmark and Switzerland. Two main points were discussed: the financial tools and the french strategy. The colloquium provided many discussions and analyzes on the possibility of significant contribution to the collective efforts in favor of the public involvement in the renewable energies development in Europe. (A.L.B.)

The System of Investment Processes in the IT Service Market and the Methodical Foundations for the Governmental Regulation

Directory of Open Access Journals (Sweden)

Protsykevych Arsen I.

2017-10-01

Full Text Available It has been determined that investment processes in the IT market enable the development and efficient use of affordable investment resources to develop and ensure the competitiveness of market players. Different approaches to interpretation of essence of investment processes have been identified. It has been proven that in order to implement an effective public policy in the IT services market, investment process must be seen as a macroeconomic system of relationships in the formation, attraction and use of investments in the IT services market, implementation of investment projects by the IT business entities. With that, systematic approach to understanding investment process brings to the fore an awareness of its typology, which in turn affects the applied instruments and means of public investment policy in this sphere. It has been found that the characteristics of governmental regulation of investment processes in the market for IT services are first and foremost determined by the aspects of the market functioning, the selected objects of trade, the basic constituents of investment activity, and the institutional framework.

ECONOMIC AND LEGAL GROUNDS FOR INVESTMENT IN DEVELOPMENT OF TRANSPORT INFRASTRUCTURE

Directory of Open Access Journals (Sweden)

V. V. Zhelezniak

2017-02-01

Full Text Available Purpose. In Ukraine, as in many countries of the world, transport is one of the most fundamental sectors of the national economy, important part of the industrial and social spheres. But in the conditions of industry reforming there are problems of investing in development of rail transport. So the work is devoted to the grounds of potentially available sources of investment in infrastructure of railway transport of Ukraine. The work stresses the importance of the problem of attracting foreign investment in the economy, highlights the proposals to solve this problem. Methodology. To solve the problems of this class the work presents the proposed methods of analysis, synthesis and comparison, deduction, induction, logic and abstraction. It becomes necessary to search for and study of new conceptual approaches to organization of investment processes at railway transport enterprises, appropriate management and financial decisions and schemes of railway infrastructure development. Findings. The paper shows ways to optimize investment for modernization and technical re-equipment of the transport complex of Ukraine. It proposes the ways of attracting capital of investors for development of transport infrastructure: compliance with European laws and regulations; reforming of the tax system of Ukraine; combating corruption in the country; implementation of public-private partnership tools into the mechanism of state regulation of investment processes; creating a favourable investment climate for implementation of rail transport infrastructure projects; creating a system of compensation to investors; guarantees of transport infrastructure investment protection. Originality. The work offers the sources of investment for development of railway infrastructure in Ukraine, which should include: state budget funds, use of targeted loans and leasing. The main direction of the state policy concerning infrastructure should be a gradual transition of activity in

Study on Investor-State Dispute Settlement (‘ISDS’) and Alternatives of Dispute Resolution in International Investment Law

DEFF Research Database (Denmark)

Hindelang, Steffen

aken the public concerns about current developments in the area of the European International Investment Policy, the European Parliament’s INTA Committee launched a study on Investor-State Dispute Settlement and Possible Alternatives of Dispute Resolution in International Investment Law....... In a nutshell, the study suggests that ISDS is a useful means of enforcing substantive investment protection standards contained in international investment agreements. The mechanism should therefore continue to form part of European international investment policy. However, the EU has to address four major...... challenges tied to this dispute settlement tool, i.e. (1) mitigating inconsistency, (2) securing the right balance between private and public interests, (3) establishing integrity of arbitral proceedings and (4) preventing misuse, allowing for error-correction and managing financial risk associated with ISDS...

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.

External Debt and Public Investment in Education in Sub-Saharan Africa.

Science.gov (United States)

Tilak, Jandhyala B. G.

1990-01-01

Worsening economic conditions, reflected in mounting external debt, debt service, and structural adjustment processes have forced governments to reveal their expenditure priorities, which are largely against human capital investment activities like education. This paper examines this phenomenon, using cross-country data for Sub-Saharan Africa.…

FOREIGN DIRECT INVESTMENT IN POST-CONFLICT COUNTRIES: THE CASE OF IRAQ’S OIL AND ELECTRICITY SECTORS

Directory of Open Access Journals (Sweden)

Ghassan Faraj Hanna

2014-04-01

Full Text Available Foreign direct investment is new phenomenon to Iraq, a post conflict country with abundance of natural resources. With dominant state-controlled public sector, attracting foreign investment is an added challenge to an economy devastated by years of wars. A qualitative case study was conducted to assess determinants of foreign direct investment in Iraq’s energy sector. Data was collected from interviews with business and government subject matter experts, and a review of publically available documents. Lack of security, political instability, corruption, and inadequate government policies towards foreign direct investment as symptoms found and typically shared by other post-conflict countries. The persistence of violence was not seen as a deterrent; however, foreign direct investment activity in the energy sector was virtually limited to the semi-autonomous region of Kurdistan. Investments were either wholly-owned or joint-venture enterprises. Implications to other post conflict countries, using Kuwait and Nigeria as illustrative examples, are presented and recommendations made.

Infrastructure investments in developing economies the case of Vietnam

CERN Document Server

Dang, Giang

2015-01-01

This book aims to provide knowledge on how infrastructure is planned and built in a typical developing country, and what key variables are there in the system limiting the efficient use of public investments in infrastructure. The book begins with a comprehensive literature review on construction and economic development, and trade and economic development. The focus of the book is on the case of Vietnam, with lessons drawn for other developing economies. The book employs the mixed use of data to provide a stronger basis for analysis and interpretation of related government policies. Based on the research findings, the book recommends significant capacity building work for Vietnam to develop capacities that would remove constraints on the efficient use of public investments in infrastructure. The general principles of significant capacity building work which are useful for policy implications are introduced in the book. Analysts, academics, public and private communities in developing countries can adopt the ...

Renewable energy investment: Policy and market impacts

International Nuclear Information System (INIS)

Reuter, Wolf Heinrich; Szolgayová, Jana; Fuss, Sabine; Obersteiner, Michael

2012-01-01

Highlights: ► Feedback of decisions to the market: large companies can have an impact on prices in the market. ► Multiple uncertainties: analysis of uncertainties emanating from both markets and environment. ► Policy analysis: impact of uncertainty about the durability of feed-in tariffs. -- Abstract: The liberalization of electricity markets in recent years has enhanced competition among power-generating firms facing uncertain decisions of competitors and thus uncertain prices. At the same time, promoting renewable energy has been a key ingredient in energy policy seeking to de-carbonize the energy mix. Public incentives for companies to invest in renewable technologies range from feed-in tariffs, to investment subsidies, tax credits, portfolio requirements and certificate systems. We use a real options model in discrete time with lumpy multiple investments to analyze the decisions of an electricity producer to invest into new power generating capacity, to select the type of technology and to optimize its operation under price uncertainty and with market effects. We account for both the specific characteristics of renewables and the market effects of investment decisions. The prices are determined endogenously by the supply of electricity in the market and by exogenous electricity price uncertainty. The framework is used to analyze energy policy, as well as the reaction of producers to uncertainty in the political and regulatory framework. In this way, we are able to compare different policies to foster investment into renewables and analyze their impacts on the market.

An assessment of apple orchard investments in South Africa under uncertainty and irreversibility

Directory of Open Access Journals (Sweden)

MAG Darroch

2004-11-01

Full Text Available The competitiveness of the South African fresh apple export value chain can be improved if local farmers grow and market more new apple cultivars. An ex ante version of the Dixit-Pindyck investment model is used to assess how uncertainty and irreversibility associated with adopting the new Pink Lady cultivar rather than a traditional Golden Delicious cultivar will raise the hurdle rate required to trigger investment. Modified real hurdle rates reflecting the value of the option to delay investment estimated for both cultivars, are about double the real rate of five per cent that is often used in orthodox investment analyses. The Pink Lady investment seems to be relatively more profitable under the assumed conditions, but it also has a relatively greater variance in expected real annual net returns.

Trends in electricity markets and international investment in Mexico

International Nuclear Information System (INIS)

Bohigas, N.

1999-01-01

A review of current market trends in the energy sector around the world was presented. There is a global movement towards the restructuring of public utility companies. The Americas are opening new energy markets, integrating gas and electricity, privatising public utilities and making mass investments. Mexico has made a proposal to liberalize the market since extensive restructuring is needed to encourage foreign investment. Over the next ten years, energy needs are expected to reach 22,000 MW. Much of this paper focused on how Hydro-Quebec International would be a partner of choice in the Mexican energy market. Hydro-Quebec International is a wholly owned subsidiary of Hydro-Quebec. It has a wide range of expertise in hydroelectric power. The utility has completed more than 300 contracts in 80 countries. Their projects in Mexico include the ECOMEX NGV project which involves the construction of compressed stations, and the CLOROTEC project which includes the construction of a thermal generating station and cogeneration with a capacity of 105 MW. This paper also described the ideal conditions for investing as being political stability, a defined regulatory structure, an established legal system, complementary partners, and acceptable rate of return. It was determined that in order to promote a more favourable investment climate, Mexico must approve the structural reform proposed to the electrical sector

THE EFFECTIVENESS OF THE TAX INCENTIVES ON FOREIGN DIRECT INVESTMENTS

Directory of Open Access Journals (Sweden)

Florian Marcel NUTǍ

2012-06-01

Full Text Available The economic integration trend has freed the capital movement and many new locations became available for investment. That is why the policy makers had to think for new and more efficient ways to lure the capital owners. One of the most used and dynamic method is the fiscal policy. The fiscal incentives were in many cases the main reason for choosing a country and stay away from another. The main reason for this situation is that the fiscal policy is one of the most flexible public tools to manipulate the market and the decisions on it. Public administrations can encourage or block different kinds of investment decisions according to its policy and long term plans.

A proposal to finance low carbon investment in Europe

International Nuclear Information System (INIS)

Aglietta, Michel; Espagne, Etienne; Perrissin Fabert, Baptiste

2015-02-01

This year, Europe is confronted with a critical double challenge: addressing the climate change issue and pulling itself out of a persistent low growth trap. Today these two challenges are addressed separately. On the one hand, climate negotiations must reach a historical agreement in the Paris conference in December 2015. On the other hand, the Juncker Plan of 315 billion euros of investment, and above all the ECB announcement of a massive purchase of assets for an amount of around 1100 billion euros, must help to avoid a deflationary spiral and stimulate a new flow of investments. Regarding climate policies, public regulators have essentially focused on a carbon price, which remains today at an insufficient level to trigger the financing needs of the low carbon transition. The potential of the banking and saving channels (targets of the asset purchase program of the ECB) to scale up climate finance is however neglected. This 'Note d'analyse' proposes to make private low-carbon assets eligible for the ECB asset purchase program. The carbon impact of these assets would benefit from a public guarantee that would value their carbon externality at a level sufficient to compensate the absence of an adequate carbon price. This mechanism would immediately impact the investment decisions of private actors with a positive effect on growth. It would also strongly incite governments to progressively implement carbon pricing tools to ensure that the public backing of the value of the carbon assets remains neutral with respect to public budgets. (authors)

Contrarian Investment Philosophy in the American Stock Market

DEFF Research Database (Denmark)

Bondo Hansen, Kristian

2015-01-01

This paper contributes to the understanding of the role of crowds in the financial market by examining the historical origins and theoretical underpinnings of contrarian investment philosophy. Developed in non-scientific, practice-oriented ‘how to’ handbooks in 1920s and 1930s America, contrarian...... investment advice was aimed at so-called small investors rather than well-established market practitioners. Emerging out of late-nineteenth- and early-twentieth-century debates about public participation in the stock market, the contrarians expanded on a widely held (amongst financial writers) scepticism...... about the investment and speculation skills (or lack thereof) of the masses and adopted ideas from the theoretical discipline of crowd psychology, whereby they positioned the mass (i.e. the crowd) in opposition to the successful investor. I argue that despite its idiosyncrasies, the contrarians...

GASB Statement No. 3 Guides Deposits, Investments.

Science.gov (United States)

Barker, Linda A.

1986-01-01

Discusses an April 1986 Governmental Accounting Standards Board statement concerning disclosures of repurchase and reverse repurchase agreements. The statement tries to help financial statement users assess the risks a goverment entity takes when investing public funds. It is effective for financial statement periods ending after December 15,…

The Brazilian investment in science and technology

Directory of Open Access Journals (Sweden)

Pinheiro-Machado R.

2001-01-01

Full Text Available An analysis of Brazilian federal expenditures in science and technology is presented is this study. The 1990-1999 data were compiled from records provided by two federal agencies (MCT and CNPq responsible for managing most of the national budget related to these activities. The results indicate that the federal investments in Brazilian science and technology stagnated during the last decade (US$ 2.32 billion in 1990, US$ 2.39 billion in 1996, and US$ 2.36 billion in 1999. In contrast, a great increase in private investments in research was acknowledged both by industry and by the government during the same period, from US$ 2.12 to US$ 4.64 billion. However, this investment did not result in an increase in invention patents granted to residents (492 in 1990 and only 232 in 1997 or in a reduction of patent costs. Despite this unfavorable scenario, the number of graduate programs in the country has increased two-fold in the last decade and the contribution of Brazilians to the database of the Institute for Scientific Information has increased 4.7-fold from 1990 (2,725 scientific publications to 2000 (12,686 scientific publications. Unstable federal resources for science, together with the poor returns of private resources in terms of developing new technologies, may jeopardize the future of Brazilian technological development.

Formation of activation mechanism for investment maintenance management of gas industry enterprises

Directory of Open Access Journals (Sweden)

Вікторія Валеріївна Чорній

2016-11-01

Full Text Available The problematic aspects of the existing management mechanism of investment management of gas industry enterprises are analyzed in the article. The ways of their elimination are suggested in accordance with the Energy Strategy of Ukraine – 2035 at different levels of its operation. The ways of improving the investment management mechanism of the enterprises in this industry on three levels are proved. Activation mechanism for investment maintenance management of gas industry enterprises is developed as result of research. Its implementation will allow enterprises of the industry to increase its investment attractiveness and effectively carry out the procedure for enterprises’ entry to the market of initial public offering to raise the required amount of investment resources for the modernization of investigated industry.

Innovation of Local Government in Creating Conducive Investment Climate (Study in Lamongan Regency)

OpenAIRE

Khoiri, A. Miftakhul

2016-01-01

Local government needs innovation to solve public problems, one of them is investment climate. The problems related to investment climate include no security and weak rule of law, lack of infrastructure, las well as ong and complicated bureaucracy. Lamongan Regency is trying to create innovative programs to solve investment problems. Those innovations include Regional Regulation No. 2 of 2015 and Regent Decree number 23 of 2015, proactive service, fast service package, SMS Gateway, facilitati...

Pattern of foreign direct investment in India since 1991

Directory of Open Access Journals (Sweden)

Gill M.S.

2004-01-01

Full Text Available The Foreign Direct Investment (FDI norms in India have been liberalized in a phased manner since 1991. Foreign investment is now coming into the country not only as a source of new technology, but also as a source of capital and managerial skills. Accordingly actual inflow of FDI in India has increased at a compound annual growth rate of 36.3% between 1991 and 2003. The regional pattern of FDI has been marked by strong variations during this period, with more investment going to states with better infrastructure and more progress in the reform process. The hitherto reserve sectors for public investment like power, oil and telecommunications have attracted considerable FDI after liberalization. In terms of the country-wise approvals of FDI, USA accounts for nearly 20% of the share followed by Mauritius, UK and Japan. FDI has come in the form of joint ventures, mergers and acquisitions and green field investments. There have been certain hindrances in the actual inflow of FDI which need to be overcome in the coming years.

Foreign direct investment in the United States and u.s. Interests.

Science.gov (United States)

Graham, E M

1991-12-20

Foreign direct investment entered the United States at unprecedented rates during the second half of the 1980s. The result has been much higher levels of foreign ownership of U.S. economic activities than those to which the nation has been accustomed. The reasons for this investment include loss of competitiveness of U.S. firms compared to international rivals as well as attractions to foreign investors of the United States itself. The economic effects of greater levels of foreign ownership are generally positive, although some problems with levels of competition could ensue. National security considerations might cause the United States to place some restrictions on this investment, but other restrictions at the present time appear to be unwarranted.

Why invest in a national public health program for stroke? An example using Australian data to estimate the potential benefits and cost implications.

Science.gov (United States)

Cadilhac, Dominique A; Carter, Robert C; Thrift, Amanda G; Dewey, Helen M

2007-10-01

Stroke is the world's second leading cause of death in people aged over 60 years. Approximately 50,000 strokes occur annually in Australia with numbers predicted to increase by about one third over 10-years. Our objectives were to assess the economic implications of a public health program for stroke by: (1) predicting what potential health-gains and cost-offsets could be achieved; and (2) determining the net level of annual investment that would offer value-for-money. Lifetime costs and outcomes were calculated for additional cases that would benefit if 'current practice' was feasibly improved, estimated for one indicative year using: (i) local epidemiological data, coverage rates and costs; and (ii) pooled effect sizes from systematic reviews. blood pressure lowering; warfarin for atrial fibrillation; increased access to stroke units; intravenous thrombolysis and aspirin for ischemic events; and carotid endarterectomy. Value-for-money threshold: AUD$30,000/DALY recovered. Improved, prevention and management could prevent about 27,000 (38%) strokes in 2015. In present terms (2004), about 85,000 DALYs and AUD$1.06 billion in lifetime cost-offsets could be recovered. The net level of annual warranted investment was AUD$3.63 billion. Primary prevention, in particular blood pressure lowering, was most effective. A public health program for stroke is warranted.

Instruments for the Financing Investment Opportunities in Post-Crisis Europe: The Investment Plan for Europe

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Mariana Trandafir

2016-05-01

Full Text Available The study is based on an analysis of the opportunities provided by The Investment Plan for Europe. The Plan, launched in December 2014, aims at stimulating additional investment at least EUR 315 billion in real economy in the 2015-2017 period and making the most of every public euro mobilized through both new and existing instrument, in order to achieve the high multiplier effect. The challenge for the Member States is to put the funds made available by these instruments to productive use in order to support sustainable jobs and growth in Europe. In this context, Romania is facing a major challenge: to promote projects of interest to investors, economically viable, sufficiently mature and consistent with EU policy priorities. According official sources, until the mid - March 2016, only two projects was selected for financing through The Investment Plan for Europe. The study contributes to the identification of the new innovative financial instruments that could improve the access to finance in general and to Romanian projects especially. The analysis uses the most recent official data, official documents published by the European Commission and other institutions in the field.

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.

Farms and funds: investment funds in the global land rush

Energy Technology Data Exchange (ETDEWEB)

Buxton, Abbi; Campanale, Mark; Cotula, Lorenzo

2012-01-15

Investment funds show a growing interest in farmland and agriculture. They are buying up land and agribusinesses in developing countries with the expectation of high long-term returns linked to rising land prices, growing populations and increasing demand for food. While the media has reported extensively on the involvement of these funds in the global land rush, the mechanics remain little understood by the broader public. What is the interest and what is driving it? Who are the players and what processes do their investment decisions go through? What are the impacts in recipient countries? And what action can be taken to promote investments that genuinely support local people?.

Trend Analysis of Educational Investments and Outcomes

Science.gov (United States)

Griffore, Robert J.; Phenice, Lillian A.; Hsieh, Meng-Chuan

2014-01-01

It is generally expected that funds invested in public instruction will strengthen pupil achievement. Similarly, it is expected that enrollments of young children in preschool education should lead to higher achievement. In a trend analysis, we examined three variables as predictors of grade 8 achievement in 2007: (1) state expenditures per…

Nested barriers to low-carbon infrastructure investment

Science.gov (United States)

Granoff, Ilmi; Hogarth, J. Ryan; Miller, Alan

2016-12-01

Low-carbon, 'green' economic growth is necessary to simultaneously improve human welfare and avoid the worst impacts of climate change and environmental degradation. Infrastructure choices underpin both the growth and the carbon intensity of the economy. This Perspective explores the barriers to investing in low-carbon infrastructure and some of the policy levers available to overcome them. The barriers to decarbonizing infrastructure 'nest' within a set of barriers to infrastructure development more generally that cause spending on infrastructure--low-carbon or not--to fall more than 70% short of optimal levels. Developing countries face additional barriers such as currency and political risks that increase the investment gap. Low-carbon alternatives face further barriers, such as commercialization risk and financial and public institutions designed for different investment needs. While the broader barriers to infrastructure investment are discussed in other streams of literature, they are often disregarded in literature on renewable energy diffusion or climate finance, which tends to focus narrowly on the project costs of low- versus high-carbon options. We discuss how to overcome the barriers specific to low-carbon infrastructure within the context of the broader infrastructure gap.

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...

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...

Management practices in Australasian ethical investment products: a role for regulation?

DEFF Research Database (Denmark)

Haigh, Matthew; Guthrie, James

2010-01-01

This paper adds to the literatures on socially responsible investment (SRI), investment management, regulation of financial services and social accounting by providing a comprehensive survey of investment methods used in SRI products and regulated social reporting in financial services. Australian...... a four-year period: 2004-2007. These aspects were further examined in 18 case studies. Over the period, diversity and intensity of construction methods had increased both within and between investment managers. The non-standard nature of management consultation used in SRI products, marketing needs...... debates and other public reports. Portfolio construction styles of 86 SRI products managed by 63 financial institutions in Australia and New Zealand were chosen for analysis. Statistical analysis was conducted to identify associations between styles, construction methods and assessment techniques over...

Influence of financial crisis in new investments international Brazilian electric sector

Energy Technology Data Exchange (ETDEWEB)

Vela, Jorge Alcala; Cantuaria, Andre Luis

2010-09-15

Electricity sector in addition to being a public utility, requires a substantial investment, explore natural resources and the basis of all production chains and consumption of our society. In conclusion, the econometric model used to study the investment to 2010 by Eletrobras meets a correlation acceptable. So a well dependence exists between power and investment in the projects selected. The lack of sophistication and low level of development in credit derivatives financial systems in Brazil, both as a healthy situation of the accounts and balance sheets, due to bitter experience in past crises are allowing a better resistance now.

Temporal trend analysis of avoidable mortality in Taiwan, 1971-2008: overall progress, with areas for further medical or public health investment.

Science.gov (United States)

Chen, Brian K; Yang, Chun-Yuh

2013-06-06

Avoidable mortality (AM), or "unnecessary untimely death," is considered an indicator of health care quality. We investigated trends in the age-standardized mortality rates (ASMRs) and associated standard expected years of life lost (SEYLL) for deaths amenable to medical care or public health measures in Taiwan from 1971-2008, with an emphasis on identifying areas where additional medical or public health investment may help reduce the burden of AM. Taiwan's ASMRs per 100,000 for AM and other causes of death were calculated using data from the National Death Certificate Registry in five-year bins from 1971 to 2008. SEYLL rates per 100,000 were calculated annually from 1971 to 2008 using the same data source. ASMR for almost all AM and other causes of death declined dramatically from 1971 to 2008 except for lung cancer (16.6% and 7.4% increase among men and women, respectively) and breast cancer (109.8% increase among women). In the same period, SEYLL due to lung cancer increased from 269.2 to 555.7 for men and 249.7 to 342.5 for women. For women, SEYLL due to breast cancer increased from 263.5 in 1971 to 659.3 in 2008. There were gender-specific differences in the reduction (or increase) in AM rates, with women showing larger rates of reduction or smaller rates of increase. Among men, AM fell by 65.9% from 1971-1975 to 2006-2008, and deaths from other causes increased by 15.6%. Among women, AM and deaths from other causes fell by 80.8% and 59.8% respectively. SEYLL decreased, respectively among males and females, from 23,147.3 and 24,081.1 in 1971 to 11,261.8 and 5,929.6 in 2008. From 1971 to 2008, Taiwan experienced a dramatic reduction in most AM and corresponding SEYLL except for lung cancer (for both males and females) and breast cancer (for females). Additional effort should be devoted to public health measures to combat the rising prevalence of smoking in Taiwan, which may be responsible for the increasing AM from lung cancer. If AM in breast cancer continues

Focal points 2010. Mobility with future - correct investment today. Environmental protection - investment restraint for agriculture? Engine for the climate policy: emission trading; Schwerpunkte 2010. Mobilitaet mit Zukunft - heute richtig investieren. Umweltschutz - Investitionshemmnis fuer die Landwirtschaft? Motor fuer die Klimapolitik: Der Emissionshandel

Energy Technology Data Exchange (ETDEWEB)

Ittershagen, Martin; Mavromati, Fotini (comps.)

2010-04-14

The publication of the German Federal environmental agency on the focal points 2010 covers the following topics: impetus for an ecological-economic policy; mobility with future -best investment for today: more environmentally compatible investments in traffic infrastructure, better technology - more efficiency, missing charging of environmental cost induces wrong stimuli; environmental protection - investment restraints for agriculture? Engine for climate policy: emission trading; the Federal environmental agency: bridge between science and politics, the Federal environmental agency for mankind and environment; data and facts; publications of the employees.

Effective communications bring greater public acceptance

International Nuclear Information System (INIS)

Clawson, C.

1992-01-01

In 1986, GPU Nuclear Corporation announced a plan to evaporate into the atmosphere 2.3 million gal of water remaining from the Three Mile Island Unit 2 (TMI-2) accident. The water would be processed to remove most of the radioactivity, but still remaining were >1,000 Ci of tritium to be released to the atmosphere during the evaporation process. It was expected that, following regulatory approvals, it would take >2 yr to complete the process. Fed by well-established antinuclear groups, public concern about evaporating the TMI-2-accident-generated water ran high among residents living near the plant. In the years since the TMI-2 accident, GPU Nuclear had developed a highly effective communications program in the communities surrounding TMI. This ongoing program provided a solid foundation on which to create and implement a risk communications approach to community understanding and acceptance of the evaporation process

Constitutionalization of international investment law: Indirect expropriation cases, fair and equitable treatment

Directory of Open Access Journals (Sweden)

César Higa

2013-12-01

Full Text Available The purpose of this paper is to explore the impact of international investment law rules in the Economic Constitutional Law, especially those included in investment chapters of Peruvian’s Free Trade Treaties. In particular, it is expected to demonstrate the following (i International Investment Law is part of Peruvian Legal System; (ii provisions of these laws are mandatory and should be applied domestically; and (iii interpretation and implementation of this legal right should be executed consistently with domestic legal system and Peruvian international obligations. This agreed Interpretation between Investment Law and Economic Constitution will have a positive effect in rationalization of public entities actions avoiding abuses and maltreatment to investors, in order to improve investment climate as a key element forachieving country’s sustainable development.

An Exploration of the Associations Among Multiple Aspects of Religiousness, Body Image, Eating Pathology, and Appearance Investment.

Science.gov (United States)

Goulet, Carol; Henrie, James; Szymanski, Lynda

2017-04-01

The purpose of this study was to investigate the influence of positive and negative aspects of religiousness on eating pathology, body satisfaction, and appearance investment beyond previously established variables (age, BMI, exercise frequency, weight stability, and self-esteem). Data collected from 168 adult females at a Catholic-affiliated university were analyzed using hierarchical linear regressions. As expected, some religiousness variables (spirituality and seeing one's body as having sacred qualities) were associated with eating pathology, body satisfaction, and appearance investment in potentially beneficial ways, and others (negative interaction with one's religious community) were associated in potentially harmful ways. Interestingly, greater religious meaning, or the importance of religion in one's life, was associated with greater eating pathology, and some variables (religious coping, participation in and support from one's religious community) expected to be associated with greater body satisfaction were unrelated. Results are discussed in terms of mechanisms through which the aspects of religiousness may influence body satisfaction, appearance investment, and eating pathology.

Impact of Corporate Governance on Research and Development Investment in the Pharmaceutical Industry in South Korea.

Science.gov (United States)

Lee, Munjae

2015-08-01

The purpose of this study is to analyze the influence of the corporate governance of pharmaceutical companies on research and development (R&D) investment. The period of the empirical analysis is from 2000 to 2012. Financial statements and comments in general, and internal transactions were extracted from TS-2000 of the Korea Listed Company Association. Sample firms were those that belong to the medical substance and drug manufacturing industries. Ultimately, 786 firm-year data of 81 firms were included in the sample (unbalanced panel data). The shareholding ratio of major shareholders and foreigners turned out to have a statistically significant influence on R&D investment (p ratio of institutional investors and the ratio of outside directors. The higher the shareholding ratio of the major shareholders, the greater the R&D investment. There will be a need to establish (or switch to) a holding company structure. Holding companies can directly manage R&D in fields with high initial risks, and they can diversify these risks. The larger the number of foreign investors, the greater the R&D investment, indicating that foreigners directly or indirectly impose pressure on a manager to make R&D investments that bring long-term benefits.

INVESTING OPPORTUNITIES THROUGH PUBLIC-PRIVATE PARTNERSHIP IN MOLDAVIAN ECONOMY

Directory of Open Access Journals (Sweden)

Daniela POPA

2013-01-01

Full Text Available The paper studied the impact of a public-private partnership objectives and scope that are more beneficial for the community's private profit and social welfare for the public, in order to determine the next task: defining, identifyingfeatures and principles of public-private partnerships, identifying criteria for their classification, identification of objectives and benefits they can get a public private partnership, public private partnership development analysis inthe Republic of Moldova the importance of implementing this and proposed projects, identify gaps in regulation andproposing public private partnership for achieving performance in this direction.

Foreign Direct Investment or External Debt and Domestic Saving: Which has Greater Impact on Growth

Directory of Open Access Journals (Sweden)

Horas Djulius

2018-02-01

Full Text Available The choice taken by developing countries in meeting the lack of development funds has a varying effect. This study clarifies the role of foreign direct investment (FDI compared to foreign loans and domestic savings in short- and long-term economic growth of Indonesia. Data were obtained from World Bank and Bank Indonesia and used in error correction model to explain the linkage between predictors and economic growth. We show that in the short run, the three explanatory variables significantly affect economic growth. In the long run, compared to FDI and foreign loans, domestic savings positively and significantly affect economic growth. This study emphasizes the importance of sustaining domestic savings to maintain the stability of economic fundamentals in the long term.DOI: 10.15408/etk.v17i1.7120

LEGAL ASPECTS OF A MANAGEMENT OF INFRASTRUCTURE PUBLIC INVESTMENTS IN REGIONS. DILEMMAS OF THE SOCIO-ECONOMIC DEVELOPMENT

Directory of Open Access Journals (Sweden)

Eryk Kosiński

2014-09-01

Full Text Available This article provides for an analysis of legal aspects of certain particular investment processes within technical infrastructure in the Polish regions (voivodeships, but in the counties and communes as well. Those mentioned investments are undertaken in the areas of roads, railroads, airports and telecommunication. The impact of the investments is crucial in terms of the socio-economic development of the modern state and society. All dilemmas in terms of the mentioned investments’ management are related to legal regulations imposed by the state. It is noteworthy that those special regulations are aimed at organising the investment process in an efficient and adequately speedy way. Those regulations provide for a broad legal environment of business within the infrastructure investments. All of those regulations are necessary in order to push the continuous progress of the Polish regions targeting at reacting the level of socio-economic development of the so-called western countries (old, early members of the EU.

Independent Planning System and Public Administration in Metropolitan Development: Agglomeration Strategies of Greater Chaoshan in Southern China

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Tian Guang

2017-04-01

Full Text Available This paper examines independent planning system as a means of public administration in regional economic development. It proposes a new strategy based on the theories of public administrative resources, to agglomerate and unify the cities of Shantou, Jieyang, and Chaozhou into a new administrative entity as a metropolis with the status of independent planning and the preferred policies of a Special Economic Region to lead regional development. The optimal allocation of public administrative resources has played a key role in the fundamental economic development in China in recent years. The new administrative system of large cities (metropolises with independent planning has become an innovative format to utilize the renewable soft resources of administration, which in fact is a new attempt to reform the economic system by the Chinese government. The greater Chaoshan area needs to be agglomerated and unified to further develop the regional economy with the implementation of independent planning system. The current research conducted from a practical and political point of view is of significant value to the overall planning and strategic layout of the economic and social development of the whole eastern Guangdong region.

Real options methodology in public-private partnership projects valuation

Directory of Open Access Journals (Sweden)

Rakić Biljana

2014-01-01

Full Text Available PPP offers numerous benefits to both public and private partners in delivery of infrastructure projects. However this partnership also involves great risks which have to be adequately managed and mitigated. Private partners are especially sensitive to revenue risk, since they are mostly interested in the financial viability of the project. Thus they often expect public partners to provide some kind of risk-sharing mechanism in the form of Minimum Revenue Guarantees or abandonment options. The objective of this paper is to investigate whether the real option of abandoning the project increases its value. Therefore the binominal option pricing model and risk-neutral probability approach have been implemented to price the European and American abandonment options for the Build-Operate-Transfer (BOT toll road investment. The obtained results suggest that the project value with the American abandonment option is greater than with the European abandonment option, hence implying that American options offer greater flexibility and are more valuable for private partners. [Projekat Ministarstva nauke Republike Srbije, br. 179066 and III 42006

On the use of a risk ladder: Linking public perception of risks associated with indoor air with cognitive elements and attitudes toward risk reduction

Science.gov (United States)

Moschandreas, D. J.; Chang, P. E.

In recent years a number of building managers have invested small amounts of money to measure indoor air quality in offices and other non-industrial buildings. Their objective is to reduce the number of occupant complaints, and not necessarily to reduce the risk associated with such complaints. Clearly, reduction of the risk would require greater investment of funds and effort. This paper focuses on individuals and the amount of money they are willing to invest in order to reduce risks associated with indoor air pollution in their home. Psychologists assert that lay judgement of risks are influenced by cognitive biases and attitudes. This study investigates the possibility that cognitive elements and general attitudes influence not only the perceived risk associated with exposures to indoor air pollutants, but also the willingness of individuals to invest in order to reduce the risk. A three-stage study was performed to determine some of the factors that influence public decisions to control the quality of the air inside their home. The study is focused on the design of a risk ladder, and the survey of 400 randomly selected individuals in the Chicago metropolitan area. The survey was designed to determine if demographics, smoking, education, or income influence the desire of individuals to invest in order to reduce indoor air pollution. The following conclusions were reached: (i) public awareness of indoor air pollution is high; (ii) media campaigns on indoor air pollution affect the determination of the specific pollutant the public perceives as important, but do not influence the public's desire to invest larger amounts of money to reduce risks from exposures to air pollutants in the residential environment; (iii) the public is not willing to spend large amounts of money to reduce indoor residential air pollution; (iv) education does not affect the level of awareness regarding indoor air pollution, but it increases the willingness to invest in an effort to reduce

Public-Private Partnership in Cultural Heritage Sector

Directory of Open Access Journals (Sweden)

Daniela Angelina JELINČIĆ

2017-12-01

Full Text Available Over the past few decades public-private partnership or PPP has become a new way for delivering and fi nancing public sector projects. It may involve investment in fully economic infrastructure such as highways, railways, airports, seaports, etc. up to the investments in social infrastructure projects, such as schools, hospitals, museums and other signifi cant and historic buildings of public interest. The main objective of this article is to analyze the situation in Croatia, Poland, Slovakia and Slovenia concerning the topic of public- private partnership (PPP in order to provide grounds for possible future investments in cultural heritage in these countries. For this purpose, a comparative analysis of legal and institutional frameworks was carried out as well as structured interviews with key stakeholders (public and private sector representatives. Special attention has been paid to the use of PPP projects in the revitalization of cultural heritage. The results of the analysis showed the lack of PPP investments in the cultural sector, and also identifi ed possible obstacles in public sector administrative procedures. The results of the analysis may be further used to stimulate both public authorities to set strategic directions for heritage revitalization plans based on PPP schemes as well as private investors who may seek feasible business models complemented with social responsibility benefits.

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.

A Business Case Method for IT Investments in Danish Municipalities

DEFF Research Database (Denmark)

Persson, John Stouby; Nielsen, Peter Axel

2012-01-01

Effective management of information technology (IT) investments is increasingly important for Danish municipalities. This is why they along with other both public and private sector organizations increasingly are using IT business cases. The business case is a document specifying the main rationale...... behind the expected value and cost of an IT investment for the adopting organization. However, experiences from Danish municipalities reveal difficulties in developing effective IT business cases for purposes beyond simple cost savings. Based on collaborative action research with Danish municipalities...

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...

The conceptual and empirical relationship between gambling, investing, and speculation.

Science.gov (United States)

Arthur, Jennifer N; Williams, Robert J; Delfabbro, Paul H

2016-12-01

Background and aims To review the conceptual and empirical relationship between gambling, investing, and speculation. Methods An analysis of the attributes differentiating these constructs as well as identification of all articles speaking to their empirical relationship. Results Gambling differs from investment on many different attributes and should be seen as conceptually distinct. On the other hand, speculation is conceptually intermediate between gambling and investment, with a few of its attributes being investment-like, some of its attributes being gambling-like, and several of its attributes being neither clearly gambling or investment-like. Empirically, gamblers, investors, and speculators have similar cognitive, motivational, and personality attributes, with this relationship being particularly strong for gambling and speculation. Population levels of gambling activity also tend to be correlated with population level of financial speculation. At an individual level, speculation has a particularly strong empirical relationship to gambling, as speculators appear to be heavily involved in traditional forms of gambling and problematic speculation is strongly correlated with problematic gambling. Discussion and conclusions Investment is distinct from gambling, but speculation and gambling have conceptual overlap and a strong empirical relationship. It is recommended that financial speculation be routinely included when assessing gambling involvement, and there needs to be greater recognition and study of financial speculation as both a contributor to problem gambling as well as an additional form of behavioral addiction in its own right.

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.

Human Rights Promotion through Transnational Investment Regimes: An International Political Economy Approach

Directory of Open Access Journals (Sweden)

Claire Cutler

2013-05-01

Full Text Available International investment agreements are foundational instruments in a transnational investment regime that governs how states regulate the foreign-owned assets and the foreign investment activities of private actors. Over 3,000 investment agreements between states govern key governmental powers and form the basis for an emerging transnational investment regime. This transnational regime significantly decentralizes, denationalizes, and privatizes decision-making and policy choices over foreign investment. Investment agreements set limits to state action in a number of areas of vital public concern, including the protection of human and labour rights, the environment, and sustainable development. They determine the distribution of power between foreign investors and host states and their societies. However, the societies in which they operate seldom have any input into the terms or operation of these agreements, raising crucial questions of their democratic legitimacy as mechanisms of governance. This paper draws on political science and law to explore the political economy of international investment agreements and asks whether these agreements are potential vehicles for promoting international human rights. The analysis provides an historical account of the investment regime, while a review of the political economy of international investment agreements identifies what appears to be a paradox at the core of their operation. It then examines contract theory for insight into this apparent paradox and considers whether investment agreements are suitable mechanisms for advancing international human rights.

Kin discrimination allows plants to modify investment towards pollinator attraction.

Science.gov (United States)

Torices, Rubén; Gómez, José M; Pannell, John R

2018-05-22

Pollinators tend to be preferentially attracted to large floral displays that may comprise more than one plant in a patch. Attracting pollinators thus not only benefits individuals investing in advertising, but also other plants in a patch through a 'magnet' effect. Accordingly, there could be an indirect fitness advantage to greater investment in costly floral displays by plants in kin-structured groups than when in groups of unrelated individuals. Here, we seek evidence for this strategy by manipulating relatedness in groups of the plant Moricandia moricandioides, an insect-pollinated herb that typically grows in patches. As predicted, individuals growing with kin, particularly at high density, produced larger floral displays than those growing with non-kin. Investment in attracting pollinators was thus moulded by the presence and relatedness of neighbours, exemplifying the importance of kin recognition in the evolution of plant reproductive strategies.

Infrastructure investment in the world fifa 2014: “Who wins?” And “Who pays the bill?”

Directory of Open Access Journals (Sweden)

Pedro Augusto Carvalho Sampaio

2012-12-01

Full Text Available Whereas the achievement of sporting mega-events in Brazil, this study sought to reflect onaspects of FIFA2014 World Cup - impacts and economic investments expected; sourcesof investment; justifications of governments to host it, the public investment in BahiaStadium for the Cup and for courts to physical education. The study was set up indocument analysis with content analysis. It was showed the prediction of the expenseof $ 183.2 billion to GDP (gross national product and investment of R $ 23.8 billion,being the disclosure of the country and the possible benefits to the economy the mainreasons. In relation to the government of Bahia it showed an investment of $ 268.1 millionin the stadium while 42.2% of schools do not have courts for physical education classes.It is concluded that there is a large investment of public money and that although thereare predicted benefits to the economy, there is no guarantee that they will happen.

78 FR 77377 - Small Business Investment Companies-Investments in Passive Businesses

Science.gov (United States)

2013-12-23

... SMALL BUSINESS ADMINISTRATION 13 CFR Part 107 RIN 3245-AG57 Small Business Investment Companies--Investments in Passive Businesses AGENCY: U.S. Small Business Administration. ACTION: Proposed rule. SUMMARY... Investment Company (SBIC) program concerning investments in passive businesses. SBICs are generally...

The Determinants of Foreign Investment in Pakistan: A gravity model analysis

Directory of Open Access Journals (Sweden)

Syed Waqar Azeem

2012-06-01

partners. It is also conclude that those countries have less distance from Pakistan, having more investment in Pakistan, therefore, attracting these countries for investment in Pakistan would cause a greater chance of economic growth in Pakistan.

26 CFR 1.280F-3T - Limitations on recovery deductions and the investment tax credit when the business use percentage...

Science.gov (United States)

2010-04-01

... investment tax credit when the business use percentage of listed property is not greater than 50 percent... recovery deductions and the investment tax credit when the business use percentage of listed property is... limitations with respect to the amount allowable as an investment tax credit under section 46(a) and the...

Public Education and Growth in Developing Countries

DEFF Research Database (Denmark)

Schuppert, Christiane; Wirz, Nadja

Human capital plays a key role in fostering technology adoption, the major source of economic growth in developing countries. Consequently, enhancing the level of human capital should be a matter of public concern. The present paper studies public education incentives in an environment in which...... governments can invest in human capital to facilitate the adoption of new technologies invented abroad or, instead, focus on consumptive public spending. Although human capital is pivotal for growth, the model reveals that incentives to invest in public education vanish if a country is poorly endowed...

Corporate Governance and Its Impact on R&D Investment in Emerging Markets

DEFF Research Database (Denmark)

Rapp, Marc Steffen; A. Udoieva, Iuliia

2017-01-01

Corporate R&D activities are inherently risky but also difficult to monitor. Against this background, we examine the impact of ownership concentration and legal shareholder rights protection on corporate R&D investments in emerging markets. Based on a comprehensive sample of publicly listed firms...... shareholders to diversify their investment risks, is beneficial for corporate R&D and that this effect is intensified by more developed institutions....

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...

Why hasn’t Macedonia succeeded for a long time in absorbing Foreign Direct Investment

Directory of Open Access Journals (Sweden)

Dr.Sc. Nasir Selimi

2015-06-01

Full Text Available Recently almost all countries of the world without exception developed countries or the developing countries are attracting foreign direct investments. The reason is that there is no dilemma that benefits of foreign direct investments in the host countries as well as domestic countries are greater than the damage that can have. Western Balkan countries also follow this trend for attracting foreign direct investment. Some of them have achieved notable successes, while the others have achieved less success.  Macedonia is a country that during the last two decades ranks among the countries with smaller foreign direct investments. In the paper which I have chosen to analyze, in the start I gave a general overview of the meaning, role and importance of foreign direct investments for economic development of a country.  Later I have analyzed the trend of foreign direct investments in the region, and especially in Macedonia. At the end sought and given reasons of locking foreign direct investment in Macedonia and recommendations to overcome such a situation.

Returns to Investment in Ontario University Education, 1960-1990, and Implications for Tuition Fee Policy. Discussion Series, Issue 5.

Science.gov (United States)

Stager, David A. A.

This analysis of Ontario's returns to investment and implications for tuition fee policy updates a 1989 publication titled "Focus on Fees." The paper examines: data on public and private return on investment (ROI) from university education, pattern of ROI rates over time, and impact of tuition fee levels on estimated ROI for various…

76 FR 2029 - Small Business Investment Companies-Energy Saving Qualified Investments

Science.gov (United States)

2011-01-12

... 3245-AF86 Small Business Investment Companies--Energy Saving Qualified Investments AGENCY: U.S. Small... Administration (SBA) is setting forth the new defined terms, ``Energy Saving Qualified Investment'' and ``Energy Saving Activities'', for the Small Business Investment Company (SBIC) Program. The new definitions are...

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.

PRIVATE VERSUS PUBLIC SECTOR SAVING-INVESTMENT GAP IN THE MACEDONIAN ECONOMY – A COMPARATIVE STUDY

OpenAIRE

Gjorgji Gockov; Elena Naumovska; Kiril Jovanovski; Ljupco Eftimov

2015-01-01

This paper aims to analyze and evaluate the size of the macroeconomic imbalances, in terms of saving-investment gap, amongst the countries, with special reference to the case of Republic of Macedonia. Particularly, the sectors (private and government) saving – investment gap is investigated in order to determine which sector is the major contributor to the overall macroeconomic imbalances in the countries with different level of development. To do this the methodological framework from nation...

12 CFR 703.5 - Discretionary control over investments and investment advisers.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Discretionary control over investments and investment advisers. 703.5 Section 703.5 Banks and Banking NATIONAL CREDIT UNION ADMINISTRATION REGULATIONS AFFECTING CREDIT UNIONS INVESTMENT AND DEPOSIT ACTIVITIES § 703.5 Discretionary control over investments and...

A conceptual framework for investigating the impacts of international trade and investment agreements on noncommunicable disease risk factors.

Science.gov (United States)

Schram, Ashley; Ruckert, Arne; VanDuzer, J Anthony; Friel, Sharon; Gleeson, Deborah; Thow, Anne-Marie; Stuckler, David; Labonte, Ronald

2018-01-01

We developed a conceptual framework exploring pathways between trade and investment and noncommunicable disease (NCD) outcomes. Despite increased knowledge of the relevance of social and structural determinants of health, the discourse on NCD prevention has been dominated by individualizing paradigms targeted at lifestyle interventions. We situate individual risk factors, alongside key social determinants of health, as being conditioned and constrained by trade and investment policy, with the aim of creating a more comprehensive approach to investigations of the health impacts of trade and investment agreements, and to encourage upstream approaches to combating rising rates of NCDs. To develop the framework we employed causal chain analysis, a technique which sequences the immediate causes, underlying causes, and root causes of an outcome; and realist review, a type of literature review focussed on explaining the underlying mechanisms connecting two events. The results explore how facilitating trade in goods can increase flows of affordable unhealthy imports; while potentially altering revenues for public service provision and reshaping domestic economies and labour markets-both of which distribute and redistribute resources for healthy lifestyles. The facilitation of cross-border trade in services and investment can drive foreign investment in unhealthy commodities, which in turn, influences consumption of these products; while altering accessibility to pharmaceuticals that may mediate NCDs outcomes that result from increased consumption. Furthermore, trade and investment provisions that influence the policy-making process, set international standards, and restrict policy-space, may alter a state's propensity for regulating unhealthy commodities and the efficacy of those regulations. It is the hope that the development of this conceptual framework will encourage capacity and inclination among a greater number of researchers to investigate a more comprehensive

Spread of risk across financial markets: better to invest in the peripheries

Science.gov (United States)

Pozzi, F.; Di Matteo, T.; Aste, T.

2013-04-01

Risk is not uniformly spread across financial markets and this fact can be exploited to reduce investment risk contributing to improve global financial stability. We discuss how, by extracting the dependency structure of financial equities, a network approach can be used to build a well-diversified portfolio that effectively reduces investment risk. We find that investments in stocks that occupy peripheral, poorly connected regions in financial filtered networks, namely Minimum Spanning Trees and Planar Maximally Filtered Graphs, are most successful in diversifying, improving the ratio between returns' average and standard deviation, reducing the likelihood of negative returns, while keeping profits in line with the general market average even for small baskets of stocks. On the contrary, investments in subsets of central, highly connected stocks are characterized by greater risk and worse performance. This methodology has the added advantage of visualizing portfolio choices directly over the graphic layout of the network.

Spread of risk across financial markets: better to invest in the peripheries.

Science.gov (United States)

Pozzi, F; Di Matteo, T; Aste, T

2013-01-01

Risk is not uniformly spread across financial markets and this fact can be exploited to reduce investment risk contributing to improve global financial stability. We discuss how, by extracting the dependency structure of financial equities, a network approach can be used to build a well-diversified portfolio that effectively reduces investment risk. We find that investments in stocks that occupy peripheral, poorly connected regions in financial filtered networks, namely Minimum Spanning Trees and Planar Maximally Filtered Graphs, are most successful in diversifying, improving the ratio between returns' average and standard deviation, reducing the likelihood of negative returns, while keeping profits in line with the general market average even for small baskets of stocks. On the contrary, investments in subsets of central, highly connected stocks are characterized by greater risk and worse performance. This methodology has the added advantage of visualizing portfolio choices directly over the graphic layout of the network.

Mapping pneumonia research: A systematic analysis of UK investments and published outputs 1997-2013.

Science.gov (United States)

Head, Michael G; Fitchett, Joseph R; Newell, Marie-Louise; Scott, J Anthony G; Harris, Jennifer N; Clarke, Stuart C; Atun, Rifat

2015-09-01

The burden of pneumonia continues to be substantial, particularly among the poorest in global society. We describe here the trends for UK pneumonia R&D investment and published outputs, and correlate with 2013 global mortality. Data related to awards to UK institutions for pneumonia research from 1997 to 2013 were systematically sourced and categorised by disease area and type of science. Investment was compared to mortality figures in 2010 and 2013 for pneumonia, tuberculosis and influenza. Investment was also compared to publication data. Of all infectious disease research between 2011 and 2013 (£917.0 million), £28.8 million (3.1%) was for pneumonia. This was an absolute and proportionate increase from previous time periods. Translational pneumonia research (33.3%) received increased funding compared with 1997-2010 where funding was almost entirely preclinical (87.5%, here 30.9%), but high-burden areas such as paediatrics, elderly care and antimicrobial resistance received little investment. Annual investment remains volatile; publication temporal trends show a consistent increase. When comparing investment to global burden with a novel 'investment by mortality observed' metric, tuberculosis (£48.36) and influenza (£484.21) receive relatively more funding than pneumonia (£43.08), despite investment for pneumonia greatly increasing in 2013 compared to 2010 (£7.39). Limitations include a lack of private sector data and the need for careful interpretation of the comparisons with burden, plus categorisation is subjective. There has been a welcome increase for pneumonia funding awarded to UK institutions in 2011-2013 compared with 1997-2010, along with increases for more translational research. Published outputs relating to pneumonia rose steadily from 1997 to 2013. Investment relative to mortality for pneumonia has increased, but it remains low compared to other respiratory infections and clear inequities remain. Analyses that measure investments in pneumonia

Giga-Investments: Modelling the Valuation of Very Large Industrial Real Investments

OpenAIRE

Collan, Mikael

2004-01-01

In this doctoral dissertation characteristics of very large industrial real investments (VLIRI) are investigated and a special group of VLIRI is defined as giga-investments. The investment decision-making regarding to giga-investments is discussed from the points of view of discounted cash-flow based methods and real option valuation. Based on the bacground of establishing giga-investments, state-of-the-art in capital budgeting (including real options) and by applying fuzzy numbers a novel me...

Effects of Deployment Investment on the Growth of the Biofuels Industry. 2016 Update

Energy Technology Data Exchange (ETDEWEB)

Vimmerstedt, Laura J. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Warner, Ethan S. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Stright, Dana [National Renewable Energy Lab. (NREL), Golden, CO (United States)

2016-03-01

This report updates the 2013 report of the same title. Some text originally published in that report is retained and indicated in gray. In support of the national goals for biofuel use in the United States, numerous technologies have been developed that convert biomass to biofuels. Some of these biomass to biofuel conversion technology pathways are operating at commercial scales, while others are in earlier stages of development. The advancement of a new pathway toward commercialization involves various types of progress, including yield improvements, process engineering, and financial performance. Actions of private investors and public programs can accelerate the demonstration and deployment of new conversion technology pathways. These investors (both private and public) will pursue a range of pilot, demonstration, and pioneer scale biorefinery investments; the most cost-effective set of investments for advancing the maturity of any given biomass to biofuel conversion technology pathway is unknown. In some cases, whether or not the pathway itself will ultimately be technically and financially successful is also unknown. This report presents results from the Biomass Scenario Model--a system dynamics model of the biomass to biofuels system--that estimate effects of investments in biorefineries at different maturity levels and operational scales. The report discusses challenges in estimating effects of such investments and explores the interaction between this deployment investment and a volumetric production incentive. Model results show that investments in demonstration and deployment have a substantial growth impact on the development of the biofuels industry. Results also show that other conditions, such as accompanying incentives, have major impacts on the effectiveness of such investments. Results from the 2013 report are compared to new results. This report does not advocate for or against investments, incentives, or policies, but analyzes simulations of

Knowledge investments, business R&D and innovativeness of countries – A qualitative meta-analytic comparison

NARCIS (Netherlands)

van Hemert, P.P.; Nijkamp, P.

2010-01-01

The relationship between knowledge investments, innovation and competitiveness is an important topic in both academic research and economic policy and has been studied extensively over the past decades. Nowadays, investments in private and public R&D are believed to make up the heart of a modern

Renewable energy policy and public perceptions of renewable energy. A cultural theory approach

International Nuclear Information System (INIS)

West, J.; Bailey, I.; Winter, M.

2010-01-01

Public opposition to the siting of renewable energy (RE) facilities and public reluctance to invest in RE remain key obstacles to the expansion of the renewables sector in the UK and a number of other European countries. Although there is a growing body of qualitative research on factors that inform public attitudes towards RE, the majority of studies have tended to be quantitative and to view 'the public' and 'public opinion' as homogeneous wholes. This study uses a cultural theory framework and focus groups conducted in the South West UK to develop deeper understandings of how individuals' worldviews can inform opinions and behaviour in relation to RE. These findings are used to explore ways in which government policies on RE might be tailored to engender greater public support and participation. Issues discussed include the provision of economic incentives, information on climate change and RE, linking renewables to overall energy behaviour, and landscape aesthetics. (author)

Decoding the IT value problem an executive guide for achieving optimal ROI on critical IT investments

CERN Document Server

Fell, Gregory J

2013-01-01

Gain greater returns from your IT investments Revealing the secrets to proven, effective strategies that enable businesses to leverage the full value of highly expensive IT investments, Decoding the IT Value Problem is a no-nonsense guide for making smart IT investments and cutting through the noise of vendor marketing and media hype. Author Gregory Fell describes in rich detail the actual processes, frameworks, infrastructure and discipline required to develop and execute corporate IT strategies that areprofitable and sustainable.Provides a proven framework for develop

Investment Strategy of Emission-Reduction Technology in a Supply Chain

Directory of Open Access Journals (Sweden)

Gao Xiang Lou

2015-08-01

Full Text Available Greenhouse gas emissions have serious impacts on the natural environment. Therefore, the restrictions imposed on carbon emission force enterprises to take carbon emission into consideration when making production decisions. In this paper, in the context of allowing emission trading and investment of emission reduction technology, models were presented for a two-stage supply chain to analyze the optimal investment and pricing decisions. The results indicate that manufacturer’s endurance capacity of reduction difficulty is higher in the cooperation model than in the Stackelberg game model, and that perfect coordination of supply chains can be realized by a revenue sharing contract. From the perspective of a consumer, low-carbon products mean higher price, so that subsidies or tax exemptions should be provided to keep low prices. Meanwhile, the government can promote investment in emission-reduction technologies and achieve its emission reduction targets by controlling emission trading price, strengthening emission reduction publicity and providing technology investment subsidies.

Robo advisor, your reliable partner? Building a trustworthy digital investment management service

OpenAIRE

Salo, Anni

2017-01-01

Investment management services have strongly relied on traditional face-to-face business models, causing the services being highly expensive and therefore available only for the wealthiest population. Recently a new digital business model, robo advisors, entered the market and are predicted to democratise the entire industry by bringing investment management services available to a wider public than ever before. Although the business models in financial services are changing, customer tr...

Towards resiliency with micro-grids: Portfolio optimization and investment under uncertainty

Science.gov (United States)

Gharieh, Kaveh

Energy security and sustained supply of power are critical for community welfare and economic growth. In the face of the increased frequency and intensity of extreme weather conditions which can result in power grid outage, the value of micro-grids to improve the communities' power reliability and resiliency is becoming more important. Micro-grids capability to operate in islanded mode in stressed-out conditions, dramatically decreases the economic loss of critical infrastructure in power shortage occasions. More wide-spread participation of micro-grids in the wholesale energy market in near future, makes the development of new investment models necessary. However, market and price risks in short term and long term along with risk factors' impacts shall be taken into consideration in development of new investment models. This work proposes a set of models and tools to address different problems associated with micro-grid assets including optimal portfolio selection, investment and financing in both community and a sample critical infrastructure (i.e. wastewater treatment plant) levels. The models account for short-term operational volatilities and long-term market uncertainties. A number of analytical methodologies and financial concepts have been adopted to develop the aforementioned models as follows. (1) Capital budgeting planning and portfolio optimization models with Monte Carlo stochastic scenario generation are applied to derive the optimal investment decision for a portfolio of micro-grid assets considering risk factors and multiple sources of uncertainties. (2) Real Option theory, Monte Carlo simulation and stochastic optimization techniques are applied to obtain optimal modularized investment decisions for hydrogen tri-generation systems in wastewater treatment facilities, considering multiple sources of uncertainty. (3) Public Private Partnership (PPP) financing concept coupled with investment horizon approach are applied to estimate public and private

Marginal Pricing and Student Investment in Higher Education

Science.gov (United States)

Hemelt, Steven W.; Stange, Kevin M.

2016-01-01

This paper examines the effect of marginal price on students' educational investments using rich administrative data on students at Michigan public universities. Marginal price refers to the amount colleges charge for each additional credit taken in a semester. Institutions differ in how they price credits above the full-time minimum (of 12…

Short/Medium-Term Macroeconomic Impact of Investment Associated with 'Grenelle de l'Environnement' Investments on Growth and Employment

International Nuclear Information System (INIS)

Guillerminet, Marie-Laure; Briard, Philippe; Fery, Pierre; Galko, Elodie; Klein, Caroline; Ollivier, Timothee

2016-01-01

The 'Grenelle de l'Environnement' is a French policy aimed at achieving the objectives defined in the EU climate and energy package. This study evaluates the short- to medium-term impact of the main economic measures of 'Grenelle' on employment and growth. The simulations run with the macro-econometric model Mesange show a positive impact of these measures on GDP and employment in the short run, mainly via the investment multiplier. The impact turns negative from 2020 on because investment slows and taxes increase to finance the latter. These results are robust to different assumptions on oil prices, household saving behaviour, public funding, and productivity gains associated with new transport projects. However, they do not factor in the impact of 'Grenelle' on the environment, competitiveness, and well-being

Europe sees mixed results from public-private partnerships for building and managing health care facilities and services.

Science.gov (United States)

Barlow, James; Roehrich, Jens; Wright, Steve

2013-01-01

Prompted in part by constrained national budgets, European governments are increasingly partnering with the private sector to underwrite the costs of constructing and operating public hospitals and other health care facilities and delivering services. Through such public-private partnerships, governments hope to avoid up-front capital expenditure and to harness private-sector efficiencies, while private-sector partners aim for a return on investment. Our research indicates that to date, experience with these partnerships has been mixed. Early models of these partnerships-for example, in which a private firm builds a hospital and carries out building maintenance, which we term an "accommodation-only" model-arguably have not met expectations for achieving greater efficiencies at lower costs. Newer models described in this article offer greater opportunities for efficiency gains but are administratively harder to set up and manage. Given the shortages in public capital for new infrastructure, it seems likely that the attractiveness of these partnerships to European governments will grow.

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

Accessibility, equity and efficiency. Challenges for Transport and Public Services

NARCIS (Netherlands)

Geurs, Karst Teunis; Patuelli, Roberto; Dentinho, T.

2016-01-01

In this book, leading researchers from around the world show the importance of accessibility in contemporary issues such as rural depopulation, investments in public services and public transport, and transport infrastructure investments in Europe. The trade-offs between accessibility, economic

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.

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.

Are community-level financial data adequate to assess population health investments?

Science.gov (United States)

Casper, Tim; Kindig, David A

2012-01-01

The variation in health outcomes among communities results largely from different levels of financial and nonfinancial policy investments over time; these natural experiments should offer investment and policy guidance for a business model on population health. However, little such guidance exists. We examined the availability of data in a sample of Wisconsin counties for expenditures in selected categories of health care, public health, human services, income support, job development, and education. We found, as predicted by the National Committee on Vital and Health Statistics in 2002, that availability is often limited by the challenges of difficulty in locating useable data, a lack of resources among public agencies to upgrade information technology systems for making data more usable and accessible to the public, and a lack of enterprise-wide coordination and geographic detail in data collection efforts. These challenges must be overcome to provide policy-relevant information for optimal population health resource allocation.

Transmission investment problems in Europe: Going beyond standard solutions

International Nuclear Information System (INIS)

Buijs, Patrik; Bekaert, David; Cole, Stijn; Van Hertem, Dirk; Belmans, Ronnie

2011-01-01

The European transmission grid is facing an investment challenge. There is a strong call for more transmission capacity. At the same time, the investment climate is fierce and troubled by public opposition, a complex regulatory framework, etc. Many transmission capacity expansion projects are delayed or canceled. In this paper different technology options suitable for increasing transmission capacity are discussed. The aim is to provide policy-makers with information on technologies without going too much into technical details. The focus is on opportunities and limitations to implement various technological alternatives in practice, including technical solutions that go beyond constructing new connection lines. The criteria used in this technology assessment are based on the obstacles reported in the European Priority Interconnection Plan. This ensures a realistic approach based on problems encountered in real projects. Although AC overhead lines (OHL) will remain the standard solution for grid expansion, it is argued that different technology options can overcome many obstacles that OHL face. Additionally, it is illustrated that the higher investment costs for some solutions can be offset with an increased benefit, e.g. by accomplishing investments with smaller delays due to fewer obstacles encountered. - Research highlights: → Assessment of real problems encountered in transmission investments. → Comparison of transmission technologies. → Techno-economic evaluation of transmission technologies.

Optimal Public Infrastructure: Some Guideposts to Ensure we don’t Overspend

Directory of Open Access Journals (Sweden)

Philip Bazel

2015-11-01

-pay model would work to eliminate political influence, create revenue for infrastructure renewal, and facilitate an optimal allocation of infrastructure resources. All of this further helps maximise the benefits derived from public infrastructure. This model of infrastructure finance and provision could be further advanced and reinforced through the creation of provincial and federal bodies whose mandate would be to actively evaluate infrastructure investments in their respective jurisdictions, prioritizing funding for the most meritorious projects, and those offering the highest public return on investment. When projects are funded through taxation and access is not priced, there is often little or no incentive for individuals to make efficient use of them. The lack of direct accountability means individuals fail to use infrastructure judiciously and sparingly to preserve the life of public assets or prevent unnecessary congestion. Moreover, the lack of a clear sense of cost means governments do not know the true value that the public places on one type of infrastructure over another. Thus, government budgeting for such projects remains inefficient and skewed. The best level and mix of public infrastructure can only be determined when government and private providers can reliably establish user demands in a priced (efficient system. The current model of funding public infrastructure deprives users of infrastructure as well as government planners from vital information they need to make informed and efficient decisions. Both remain unclear on value for money, and costaccountability, but are bound by an innate aversion to increased tax-financing. Governments, fully cognizant of both consumer attitudes and the need to retain vote-getting power, thus swing between funding necessary infrastructure and allowing infrastructure deficits to grow. This paper advocates for a more efficient, accountable system with greater dependence on user-pay models and reinforced by and active

Return on Investment in the Public Sector

National Research Council Canada - National Science Library

Bigham, Joshua

2004-01-01

.... Development and application of ROI analysis is challenging in the public sector since most government organizations do not generate profit necessary for calculation of ROI in the manner in which it...

The Public Market Equivalent and Private Equity Performance

DEFF Research Database (Denmark)

Sørensen, Morten; Jagannathan, Ravi

2015-01-01

The authors show that the public market equivalent approach is equivalent to assessing the performance of private equity (PE) investments using Rubinstein’s dynamic version of the CAPM. They developed two insights: (1) one need not compute betas of PE investments, and any changes in PE cash flow...... betas due to changes in financial leverage, operating leverage, or the nature of the business are automatically taken into account; (2) the public market index used in evaluations should be the one that best approximates the wealth portfolio of the investor considering the PE investment opportunity....

Massive financing of the energy transition - SFTE feasibility study: synthesis report, Energy renovation of public buildings. A euros 120 bn investment programme for the European Union's three-year Juncker Plan, Massive financing of the energy transition in schools, hospitals and other public buildings. A euros 420 bn investment programme for the European Union, Massive financing of the energy transition in schools, hospitals, etc. for a competitive EU

International Nuclear Information System (INIS)

2014-11-01

The SFTE project aims to establish a broad partnership between public and private entities to stimulate the economy and deliver between euros 180 bn and euros 420 bn of investment in Europe over 10 years for the benefit of medium-sized projects (in the order of euros 1 m) that are necessary for the energy transition. It will enable EU banks to finance the energy renovation of public buildings under excellent - cheap and long-term - conditions. A feasibility study has been conducted by the AFTER association with an exemplary consortium of public and private stakeholders in France: local authorities, industry players, banks/financial institutions, NGOs, Plan Batiment Durable. Many European institutions have expressed their interest in the initiative. Now the implementation of the SFTE project requires a commitment from European and national public authorities. Such a proactive real-estate policy would significantly contribute to economic recovery, cut costs, CO_2 emissions and the external deficit and improve energy independence, and could quickly create jobs. This document is the English version of the synthesis report of the SFTE project feasibility study. Two notes are attached to the document: one is a note to decision makers on the adaptation of the project to the euro 315 bn investment plan proposed by Jean-Claude Juncker, and the other is a technical note to decision makers

The economic value of an investment in physiotherapy education: a net present value analysis.

Science.gov (United States)

Rivers, George; Foo, Jonathan; Ilic, Dragan; Nicklen, Peter; Reeves, Scott; Walsh, Kieran; Maloney, Stephen

2015-07-01

What is the economic value for an individual to invest in physiotherapy undergraduate education in Australia? How is this affected by increased education costs or decreased wages? A cost-benefit analysis using a net present value (NPV) approach was conducted and reported in Australian dollars. In relation to physiotherapy education, the NPV represents future earnings as a physiotherapist minus the direct and indirect costs in obtaining the degree. Sensitivity analyses were conducted to consider varying levels of experience, public versus private sector, and domestic versus international student fees. Comparable calculations were made for educational investments in medicine and nursing/midwifery. Assuming an expected discount rate of 9.675%, investment in education by domestic students with approximately 34 years of average work experience yields a NPV estimated at $784,000 for public sector physiotherapists and $815,000 for private sector therapists. In relation to international students, the NPV results for an investment and career as a physiotherapist is estimated at $705,000 in the public sector and $736,000 in the private sector. With an approximate payback period of 4 years, coupled with strong and positive NPV values, physiotherapy education in Australia is a financially attractive prospect and a viable value proposition for those considering a career in this field. Copyright © 2015 Australian Physiotherapy Association. Published by Elsevier B.V. All rights reserved.

Efficient pricing and investment in electricity markets with intermittent resources

International Nuclear Information System (INIS)

Chao, Hung-po

2011-01-01

Facing growing technological and environmental challenges, the electricity industry needs effective pricing mechanism to promote efficient risk management and investment decisions. In a restructured electricity market with competitive wholesale prices and traditionally regulated retail rates, however, there are technical and institutional barriers that prevent dynamic pricing with price responsive demand. In regions with limited energy storage capacity, intermittent renewable resources present special challenges. This could adversely affect the effectiveness of public policies causing inefficient investments in energy technologies. In this paper, we present an updated economic model of pricing and investment in restructured electricity market and use the model in a simulation study for an initial assessment of renewable energy strategy and alternative pricing mechanisms. A key objective of the study is to shed light on the policy issues so that effective decisions can be made to improve efficiency. - Highlights: → Renewable resources present special challenges in regions with limited energy storage capacity. → This paper presents an updated economic model of pricing and investment in restructured electricity market. → A simulation study assesses renewable energy strategy and alternative pricing mechanisms. → The study results inform policy decisions to improve efficient investments in energy technologies.

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.

Life and health insurance industry investments in fast food.

Science.gov (United States)

Mohan, Arun V; McCormick, Danny; Woolhandler, Steffie; Himmelstein, David U; Boyd, J Wesley

2010-06-01

Previous research on health and life insurers' financial investments has highlighted the tension between profit maximization and the public good. We ascertained health and life insurance firms' holdings in the fast food industry, an industry that is increasingly understood to negatively impact public health. Insurers own $1.88 billion of stock in the 5 leading fast food companies. We argue that insurers ought to be held to a higher standard of corporate responsibility, and we offer potential solutions.

Venture capital and risk management: evidence from initial public offerings

Directory of Open Access Journals (Sweden)

Charles E. Bamford

2012-03-01

Full Text Available In this study we analyze a sample of initial public offerings (IPOs to infer the sources of firm-specific risk associated with investment by venture capitalists. The results indicate that IPO backing by venture capitalists is associated with risk factors related to operating profit margins and ongoing sales generation, but not operational financing. The results also indicate that venture-backed IPOs are associated with greater reductions in firm-specific risk over the course of a year that includes the date of the IPO. In sum, the findings suggest venture capitalists are willing to accept higher levels of uncertainty in those instances where they have an advantage in terms of managerial skill, and are able to reduce firm-specific risk subsequent to investment in order to maximize returns when they cash out. Our study also makes use of proxies that are representative of the ex-ante nature of firm-specific risk at the time of a new issue

Return on Investment in the Public Sector

National Research Council Canada - National Science Library

Bigham, Joshua

2004-01-01

.... This demand has created a trend in the public sector, not only in the United States, but worldwide as well, towards the importation of private sector business practices to improve accountability-oriented analysis...

An Empirical Investment of the Factors Influencing the Adoption of ...

African Journals Online (AJOL)

An Empirical Investment of the Factors Influencing the Adoption of Computer Based Auditing in Public Limited Liability Companies in Nigeria. ... information on current issues such as technological development, Keywords: Auditing, Computer based auditing, Information technology. International Journal of Development and ...

Dynamics of investment in fixed capital in the economy of the Northern regions

Directory of Open Access Journals (Sweden)

Yusif Alimovich Gadzhiev

2015-03-01

Full Text Available The article describes characteristics and trends of investment in fixed capital of the Northern regions. It singles out phases of rapid pre-crisis growth, crisis, post-crisis growth and stagnation. Stagnation and decline in recent years are caused by completed major investment projects, reduced own funds of enterprises, limited availability of investment resources and increased capital outflow. The article reveals that the growth of investment in fixed capital of the North in the post-crisis period is provided by the regions, carrying out major investment in oil and gas pipeline transport, oil extraction, production and distribution of electricity, gas and water. The changes in the sectoral structure of investment in fixed capital of the Northern regions are barely visible; the share of investment in the traded sector is still high, especially in mining, due to the Northern regions’ specialization in the extractive industries. The share of investment in the public sector and social services remains low. The specific structure of investment in fixed capital has changed: the share of investment in buildings (excluding housing and structures has increased greatly; the share of investment in machinery, equipment, vehicles has decreased due to insufficient investment in mining enterprises and financial shortages in manufacturing. In most regions the structure of investment in fixed capital by directions is characterized by the increase in the share of investment in machinery, equipment, vehicles in new construction, investment in buildings and structures and the decline in the proportion of investment in machinery, equipment, vehicles modernization and reconstruction and acquisition of new fixed assets. The dynamics and the inefficient structure of investment in fixed assets and directions testify the shortage of investment in innovation in the Northern regions

The Determinants of Research and Development Investment in the Pharmaceutical Industry: Focus on Financial Structures

Science.gov (United States)

Lee, Munjae; Choi, Mankyu

2015-01-01

Objectives This study analyzes the influence of the financial structure of pharmaceutical companies on R&D investment to create a next-generation profit source or develop relatively cost-effective drugs to maximize enterprise value. Methods The period of the empirical analysis is from 2000 to 2012. Financial statements and comments in general and internal transactions were extracted from TS-2000 of the Korea Listed Company Association (KLCA), and data related to stock price is extracted from KISVALUE-Ⅲ of NICE Information Service Co., Ltd. Stata 12.0 was used as the statistical package for panel analysis. Results The current ratio had a positive influence on R&D investment, the debt ratio had a negative influence on R&D investment, and return on investment and net sales growth rate did not have a significant influence on R&D investment. Conclusion It was found in this study that the higher liquidity ratio, the greater the R&D investment. The stability of pharmaceutical companies has a negative influence on R&D investment. This finding is consistent with the prediction that if a company faces a financial risk, it will be passive in R&D investment due to its financial difficulties. PMID:26730355

The Determinants of Research and Development Investment in the Pharmaceutical Industry: Focus on Financial Structures.

Science.gov (United States)

Lee, Munjae; Choi, Mankyu

2015-10-01

This study analyzes the influence of the financial structure of pharmaceutical companies on R&D investment to create a next-generation profit source or develop relatively cost-effective drugs to maximize enterprise value. The period of the empirical analysis is from 2000 to 2012. Financial statements and comments in general and internal transactions were extracted from TS-2000 of the Korea Listed Company Association (KLCA), and data related to stock price is extracted from KISVALUE-Ⅲ of NICE Information Service Co., Ltd. Stata 12.0 was used as the statistical package for panel analysis. The current ratio had a positive influence on R&D investment, the debt ratio had a negative influence on R&D investment, and return on investment and net sales growth rate did not have a significant influence on R&D investment. It was found in this study that the higher liquidity ratio, the greater the R&D investment. The stability of pharmaceutical companies has a negative influence on R&D investment. This finding is consistent with the prediction that if a company faces a financial risk, it will be passive in R&D investment due to its financial difficulties.

Geothermal investment analysis with site-specific applications to Roosevelt Hot Springs and Cove Fort-Sulphurdale, Utah

Energy Technology Data Exchange (ETDEWEB)

Cassel, T.A.V.; Edelstein, R.H.; Blair, P.D.

1978-12-01

The analysis and modeling of investment behavior in the development of hydrothermal electric power facilities are reported. This investment behavior reflects a degree of sensitivity to public policy alternatives concerning taxation and regulation of the resource and its related energy conversion facilities. The objective of the current research is to provide a realistic and theoretically sound means for estimating the impacts of such public policy alternatives. A stochastic simulation model was developed which offers an efficient means for site-specific investment analysis of private sector firms and investors. The results of the first year of work are discussed including the identification, analysis, quantification and modeling of: a decision tree reflecting the sequence of procedures, timing and stochastic elements of hydrothermal resource development projects; investment requirements, expenses and revenues incurred in the exploration, development and utilization of hydrothermal resources for electric power generation; and multiattribute investment decision criteria of the several types of firms in the geothermal industry. An application of the investment model to specific resource sites in the state of Utah is also described. Site specific data for the Known Geothermal Resource Areas of Roosevelt Hot Springs and Cove Fort-Sulphurdale are given together with hypothesized generation capacity growth rates.

Opportunities and Challenges of Large Investment Projects in the New Economy: the Port of Ust-Luga

Directory of Open Access Journals (Sweden)

Popodko Galina

2015-09-01

Full Text Available The aim of this study is to search for a mechanism for implementing large investment projects of crucial economic importance in the modern economic conditions characterized by the sanction policy of foreign states, limited public investment, and a mass exodus of foreign investors. An example of a large-scale investment project is the construction of a multipurpose multimodal complex — the commercial seaport of Ust-Luga. This is one of the most recent large projects in seaport infrastructure development. This article estimates the project’s significance for the development of the Baltic region and presents a competitive analysis of the seaport position in comparison to the largest European ports. The authors analyze the strengths of the seaport construction project, namely, the favorable natural environment and climate, advantageous geographical position, strong political will demonstrated by the federal and regional authorities. The article also considers the challenges the project faces — unfortunate geopolitical situation, growing competition from other seaports, and lack of investment. Based on the analysis of challenges, it is concluded that there are significant risks associated predominantly with lack of investment. In these conditions, a large investment project requires the enhancement of public-private partnership, which will ensure the timely implementation of such projects

Mapping pneumonia research: A systematic analysis of UK investments and published outputs 1997–2013

Science.gov (United States)

Head, Michael G.; Fitchett, Joseph R.; Newell, Marie-Louise; Scott, J. Anthony G.; Harris, Jennifer N.; Clarke, Stuart C.; Atun, Rifat

2015-01-01

Background The burden of pneumonia continues to be substantial, particularly among the poorest in global society. We describe here the trends for UK pneumonia R&D investment and published outputs, and correlate with 2013 global mortality. Methods Data related to awards to UK institutions for pneumonia research from 1997 to 2013 were systematically sourced and categorised by disease area and type of science. Investment was compared to mortality figures in 2010 and 2013 for pneumonia, tuberculosis and influenza. Investment was also compared to publication data. Results Of all infectious disease research between 2011 and 2013 (£917.0 million), £28.8 million (3.1%) was for pneumonia. This was an absolute and proportionate increase from previous time periods. Translational pneumonia research (33.3%) received increased funding compared with 1997–2010 where funding was almost entirely preclinical (87.5%, here 30.9%), but high-burden areas such as paediatrics, elderly care and antimicrobial resistance received little investment. Annual investment remains volatile; publication temporal trends show a consistent increase. When comparing investment to global burden with a novel ‘investment by mortality observed’ metric, tuberculosis (£48.36) and influenza (£484.21) receive relatively more funding than pneumonia (£43.08), despite investment for pneumonia greatly increasing in 2013 compared to 2010 (£7.39). Limitations include a lack of private sector data and the need for careful interpretation of the comparisons with burden, plus categorisation is subjective. Conclusions There has been a welcome increase for pneumonia funding awarded to UK institutions in 2011–2013 compared with 1997–2010, along with increases for more translational research. Published outputs relating to pneumonia rose steadily from 1997 to 2013. Investment relative to mortality for pneumonia has increased, but it remains low compared to other respiratory infections and clear inequities remain

Are returns to public investment lower in less-favored rural areas?: an empirical analysis of India

OpenAIRE

Fan, Shenggen; Hazell, P. B. R.

1999-01-01

Developing countries allocate scarce government funds to investments in rural areas to achieve the twin goals of agricultural growth and poverty alleviation. Choices have to be made between different types of investments, especially infrastructure, human capital and agricultural research, and between different types of agricultural regions, e.g., irrigated and high- and low-potential rainfed areas. This paper develops an econometric approach and provides empirical evidence on the impact of go...

U.S. infrastructure : funding trends and opportunities to improve investment decisions

Science.gov (United States)

2000-02-01

Given the profound economic and social importance of the public infrastructure, it is crucial that federal, state, and local governments make prudent decisions on how to invest limited available resources. In making these decisions, governments will ...

Social Return on Investment (SROI) methodology to account for value for money of public health interventions: a systematic review.

Science.gov (United States)

Banke-Thomas, Aduragbemi Oluwabusayo; Madaj, Barbara; Charles, Ameh; van den Broek, Nynke

2015-06-24

Increased scarcity of public resources has led to a concomitant drive to account for value-for-money of interventions. Traditionally, cost-effectiveness, cost-utility and cost-benefit analyses have been used to assess value-for-money of public health interventions. The social return on investment (SROI) methodology has capacity to measure broader socio-economic outcomes, analysing and computing views of multiple stakeholders in a singular monetary ratio. This review provides an overview of SROI application in public health, explores lessons learnt from previous studies and makes recommendations for future SROI application in public health. A systematic review of peer-reviewed and grey literature to identify SROI studies published between January 1996 and December 2014 was conducted. All articles describing conduct of public health SROI studies and which reported a SROI ratio were included. An existing 12-point framework was used to assess study quality. Data were extracted using pre-developed codes: SROI type, type of commissioning organisation, study country, public health area in which SROI was conducted, stakeholders included in study, discount rate used, SROI ratio obtained, time horizon of analysis and reported lessons learnt. 40 SROI studies, of varying quality, including 33 from high-income countries and 7 from low middle-income countries, met the inclusion criteria. SROI application increased since its first use in 2005 until 2011, declining afterwards. SROI has been applied across different public health areas including health promotion (12 studies), mental health (11), sexual and reproductive health (6), child health (4), nutrition (3), healthcare management (2), health education and environmental health (1 each). Qualitative and quantitative methods have been used to gather information for public health SROI studies. However, there remains a lack of consensus on who to include as beneficiaries, how to account for counterfactual and appropriate study

Integrating energy and environmental goals. Investment needs and technology options

International Nuclear Information System (INIS)

2004-04-01

Economic and population growth will continue to drive an expansion of the global energy market. The Earth's energy resources are undoubtedly adequate to meet rising demand for at least the next three decades. But the projected increases in energy consumption and market developments raise serious concerns about the security of energy supplies, investment in energy infrastructure, the threat of environmental damage caused by energy use and the uneven access of the world's population to modern energy. The first two sections of this background paper provide an outlook for energy demand and emissions over the next thirty years, based on findings in the IEA's World Energy Outlook 2002. Section four presents projections for global investment needs from the latest WEO publication, the World Energy Investment Outlook 2003. For both the energy and investment outlooks, an alternative scenario for OECD countries is examined. The scenarios describe a world in which environmental and energy supply security concerns will continue to plague policy makers. Clearly, changes in power generation, automotive engines and fuel technologies will be required to change trends in energy demand and emissions over the next thirty years and beyond. Improvements in energy efficiency will also play a fundamental role. A number of technologies offer the long term potential to diversify the energy sector away from its present heavy reliance on fossil fuels. Based on various IEA studies, section five evaluates those technologies that offer the potential to reduce emissions, including renewable energy, fossil-fuel use with CO2 capture and storage, nuclear, hydrogen, biofuels and efficient energy end use. No single technology can meet the challenge by itself. Different regions and countries will require different combinations of technologies to best serve their needs and best exploit their indigenous resources. Developing countries, in particular, will face far greater challenges in the years ahead

Treaties to avoid international double income taxation and their relation with investments involving Brazil

Directory of Open Access Journals (Sweden)

Jônatas de Pessoa Alburquerque Martins

2014-11-01

Full Text Available To fight against fiscal evasion and facilitate the investment flow, the countries close agreements to go against double income taxation. This study aims to investigate the impact of the treaties to avoid double income taxation on the direct foreign investment relations of Brazil. The analysis included 162 countries and jurisdictions with which investments transactions were closed that originated or were received in Brazil, between 2005 and 2011. The panel data analysis technique was applied through the selection of six independent variables, in order to verify the behavior of the double taxation treaties in view of the investments. Through the estimated model, it was verified that these treaties had a positive and statistically significant impact – when compared to earlier studies – on the direct foreign investment volume. When dividing the sample between the investments received and made in Brazil, a greater increase was identified in the direct foreign investments received (130.1% than in the investments made (76.9%, although this was the variable with the second largest positive impact in the model. In conclusion, exclusively in the Brazilian context, the international double income taxation is a relevant factor in the investment decision, as the presence of treaties to guarantee the investors in the receipt of revenues without double taxation substantially increases the investment flow. This study differs from earlier research by the sample that only contains treaties in force in Brazil.

Economic and Environmental Performance of Fashion Supply Chain: The Joint Effect of Power Structure and Sustainable Investment

Directory of Open Access Journals (Sweden)

Xiutian Shi

2017-06-01

Full Text Available Fashion supply chain members now search for trade-offs between sustainable investment and the related incentives, such as savings on environmental taxes and gains in incremental demands. To evaluate the economic and environmental performance of sustainable investment from a power perspective, we develop an analytical model to study a two-echelon sustainable supply chain consisting of one retailer and one manufacturer with three different power structures. We derive the optimal solutions for various cases associated with different supply chain power structures and sustainable investors. Though it is beneficial for both the manufacturer and retailer to make sustainable investment, they often utilize high power to gain economic benefit with less sustainable investment. Interestingly, the follower with less supply chain power has more incentive to make a sustainable effort to achieve a higher profit. The optimal amount of sustainable investment in the apparel manufacturer investment case is greater than that in the retailer investment case in most scenarios.

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...

Essays in public economics

Science.gov (United States)

Seligman, Jason Scott

2002-01-01

Three essays in the field of public economics are included in this thesis. Chapter 1 begins this work with an introduction to public economics and places the remaining chapters in context. Like all economic agents, the government must manage its cash position. Chapter 2 considers this activity. Short-term financial requirements cause the government to solicit the market for bills not previously scheduled (Cash Management Bills). Using data from the US Treasury's Proprietary Domestic Finance Database, this chapter shows that these bills have higher costs than normal bills, suggesting that both Treasury and financial markets appreciate that demand is more inelastic for these instruments. In addition, this research identifies several factors that increase finance costs for Treasury in meeting short-term financial need. Chapter 3 explores location choices for generation investment in a re-regulated electricity market. Recently, there have been significant changes in the regulation of electricity in the State of California. These changes may affect generation investment behavior within the State, an important consideration for policy makers. This work identifies the impact of public sector regulatory change on private sector investment outcomes, by comparing the location and scope of electricity generation projects before and after two specific regulatory changes in air quality management and transmission tariff charges, while controlling for expected population growth patterns within the State. Significant changes in location preference are identified using factors for the northern and southern transmission zones, NP15 and SP15, the intermediate zone ZP26, and for areas outside of ISO control. Chapter 4 considers Disability Insurance and individual public pension investment accounts. Current debate on the Social Security Administration's long-term finance of benefits includes proposals for independent private investment via individual accounts. The author investigates

INVESTMENT FUNDS IN ROMANIA

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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

Infrastructure investment and incentives with supranational funding

OpenAIRE

Socorro, M. Pilar; De Rus, Ginés

2011-01-01

Public infrastructure investment is usually co-financed by supranational organizations. The selection of projects is supposed to be decided using the information provided by conventional cost-benefit analysis. Nevertheless, we show that the type of institutional design regarding the financing mechanism affects the incentives of national governments to reduce costs and increase revenues, affecting project selection, the infrastructure capacity, the choice of technology, and the type of contrac...

How the world should invest in energy efficiency

International Nuclear Information System (INIS)

Farrell, D.; Remes, J.K.

2008-01-01

A program that targets cost-effective opportunities in energy productivity could halve the growth in energy demand, cut emissions of greenhouse gases, and generate attractive returns. Boosting energy efficiency will help stretch energy resources and slow down the increase in carbon emissions. It will also create opportunities for businesses and consumers to invest 170 billion USD a year from now until 2020, at a 17 percent average internal rate of return. However, a wide range of information gaps, market failures, and policy imperfections could slow the pace of investment. Public- and private-sector leaders can encourage higher energy productivity by setting efficiency standards for appliances and equipment, financing energy efficiency upgrades, raising corporate standards for energy efficiency, and collaborating with energy intermediaries

The Impact Analysis of Direct Public R&D and Innovation Investments in Turkish Space Sector

Science.gov (United States)

Kaya, Derya; Cakir, Serhat

2016-07-01

According to The Organisation for Economic Co-operation and Development (OECD), space sector plays a pivotal role in the functioning of modern societies and their economic development. It is in the scope of OECD's International Futures Programme. The global space economy, as defined by the OECD Space Forum, comprises the space industry's core activities in space manufacturing and in satellite operations, plus other consumer activities that have been derived over the years from governmental research and development. In 2013 commercial revenues generated by the space economy amounted to USD 256.2 billion globally that is huge amount of space investment in the world. Recently, Turkey has also entered to the sector and it has growing strategic interest in space. First satellite project was started with a technology transfer from UK by TUBITAK Space Technologies Research Institute in 2001 and it launched to its orbit in 2003. Then RASAT and GÖKTÜRK-2 satellites were developed and launched to their orbits respectively in 2011 and 2012. Today, we have other satellite projects that are going on, too. However, we do not have a mechanism or a model to assess the impacts of those projects. What kind of model can be used to measure the impact of direct public R&D and innovation investments in Turkish space sector? The aim of this study is to develop a model which would be useful for monitoring the performance of R&D and Innovation investments that are conducted through government policies and strategies and so on to give feedback for effective strategy making. When we look at the impact analysis studies in Turkey, we see a few such as TUBITAK (Özçelik and Taymaz, 2008; Erden, 2010; Tandoǧan, 2011), İşkur (World Bank Report, 2013), Ministry of Economy (TTGV, 2013), Development Agencies (İZKA, 2011; Elçi vd., 2011; Pınar, 2014; Meydan, 2014). There is need for a systematic approach to impact analysis. Since there is no data for this study, we would develop a model with

Investment in exploration by the US uranium industry

International Nuclear Information System (INIS)

Cohen, W.

1982-09-01

This report examines investment in domestic uranium exploration by US companies. In addition to examining the influence of typically considered variables such as expected price of output, expected cost of production, cost of capital, and reserve holdings, the analysis also considers the influence of selected attributes of the corporations involved, including cash flow, exploration expertise, and corporate investment strategy. This latter class of variables (i.e., corporate variables) has never been considered in the analysis of the determination of industry investment behavior. The sample includes observations of 25 firms' behavior over a period of 7 years, 1973 through 1979. In addition to supporting the energy Information Administration's more comprehensive uranium market modelling efforts, an interesting question this study addresses is the role of major oil companies in the uranium exploration field. The results suggest that expected profit and level of reserve holdings significantly affect exploration effort. It is also found that firms with greater cash flow and depth of in-house exploration expertise will explore more than firms with less. On the other hand, the results do not suggest that firms' diversification strategies differentiate their exploration in the short run. For instance, in the uranium industry, mineral firms do not behave differently from energy (e.g., oil) firms, once the other determinants of investment in exploration are considered. In conclusion, the results demonstrate that corporate variables should be considered in models of uranium exploration. Their consideration will enhance the ability to model exploration behavior accurately. 10 tables

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.

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...

Policy Pathways: Joint Public-Private Approaches for Energy Efficiency Finance

Energy Technology Data Exchange (ETDEWEB)

NONE

2012-09-06

This Policy Pathway outlines, through the experiences and lessons learned from country examples, the critical elements to put in place a public-private partnership to finance energy efficiency. It focuses on three mechanisms - dedicated credit lines, risk guarantees, and energy performance service contracts and presents the planning, implementing, monitoring, and evaluating phases of implemention. Accelerating and scaling up private investment in energy efficiency is crucial to exploit the potential of energy efficiency. However many barriers remain to private investment such as access to capital, uncertainty of future energy prices, transaction costs, perceived higher risk, and lack of knowledge. As part of the IEA 25 Energy Efficiency Policy Recommendations, the IEA recommends that governments support private investment in energy efficiency. A joint public-private approach can use public finance and regulatory policy to support the scaling up of private investment in energy efficiency.

PRICING AND ASSESSING UNIT-LINKED INSURANCE CONTRACTS WITH INVESTMENT GUARANTEES

Directory of Open Access Journals (Sweden)

Ciumas Cristina

2014-07-01

Full Text Available One of the most interesting life insurance products to have emerged in recent years in the Romanian insurance market has been the unit-linked contract. Unit-linked insurance products are life insurance policies with investment component. A unit-linked life insurance has two important components: protection and investment. The protection component refers to the insured sum in case of the occurrence of insured risks and the investment component refers to the policyholders’ account that represents the present value of the units from the chosen investment funds. Due to the financial instability caused by the Global Crisis and the amplification of market competitiveness, insurers from international markets have started to incorporate guarantees in unit-linked products. So a unit- linked life insurance policy with an asset value guarantee is an insurance policy whose benefit payable on death or at maturity consists of the greater of some guaranteed amount and the value of the units from the investment funds. One of the most challenging issues concerns the pricing of minimum death benefit and maturity benefit guarantees and the establishing of proper reserves for these guarantees. Insurers granting guarantees of this type must estimate the cost and include the cost in the premium. An important component of the activity carried out by the insurance companies is the investment of the premiums paid by policyholders in various types of assets, in order to obtain higher yields than those guaranteed by the insurance contracts, while providing the necessary liquidity for the payment of insurance claims in case of occurrence of the assumed risks. So the guaranteed benefits can be broadly matched or immunized with various types of financial assets, especially with fixed-interest instruments. According to Romanian legislation which regulates the unit-linked life insurance market, unit-linked life insurance contracts pass most of the investment risk to the

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.

17 CFR 270.17f-2 - Custody of investments by registered management investment company.

Science.gov (United States)

2010-04-01

... registered management investment company. 270.17f-2 Section 270.17f-2 Commodity and Securities Exchanges....17f-2 Custody of investments by registered management investment company. (a) The securities and similar investments of a registered management investment company may be maintained in the custody of such...

Environmental contamination with Toxocara spp. eggs in public parks and playground sandpits of Greater Lisbon, Portugal.

Science.gov (United States)

Otero, David; Alho, Ana M; Nijsse, Rolf; Roelfsema, Jeroen; Overgaauw, Paul; Madeira de Carvalho, Luís

Toxocarosis is a zoonotic parasitic disease transmitted from companion animals to humans. Environmental contamination with Toxocara eggs is considered to be the main source of human infections. In Portugal, knowledge regarding the current situation, including density, distribution and environmental contamination by Toxocara spp., is largely unknown. The present study investigated environmental contamination with Toxocara spp. eggs, in soil and faecal samples collected from public parks and playground sandpits in Greater Lisbon, Portugal. A total of 151 soil samples and 135 canine faecal samples were collected from 7 public sandpits and 12 public parks, over a 4 month-period. Soil samples were tested by a modified centrifugation and sedimentation/flotation technique and faecal samples were tested by an adaptation of the Cornell-Wisconsin method. Molecular analysis and sequencing were performed to discriminate Toxocara species in the soil. Overall, 85.7% of the sandpits (6/7) and 50.0% of the parks (6/12) were contaminated with Toxocara spp. eggs. The molecular analysis of soil samples showed that, 85.5% of the sandpits and 34.4% of the parks were contaminated with Toxocara cati eggs. Faecal analysis showed that 12.5% of the sandpits and 3.9% of the parks contained Toxocara canis eggs. In total, 53.0% of soil and 5.9% of faecal samples were positive for Toxocara spp. Additionally, 56.0% of the eggs recovered from the samples were embryonated after 60 days of incubation, therefore considered viable and infective. The average density was 4.2 eggs per hundred grams of soil. Public parks and playground sandpits in the Lisbon area were found to be heavily contaminated with T. cati eggs, representing a serious menace to public health as the studied areas represent common places where people of all ages, particularly children, recreate. This study sounds an alarm bell regarding the necessity to undertake effective measures such as reduction of stray animals, active faecal

Necessity as a ground for precluding wrongfulness in international investment law

Directory of Open Access Journals (Sweden)

Vasiljević Mirko

2016-01-01

Full Text Available The issue of necessity as a ground for precluding wrongfulness has received close attention over the last two decades both in case law and in scholarly writings. Arbitrations conducted against Argentina for breaches of bilateral investment treaty obligations committed while fighting against economic crisis revived the old controversies related to the concept of necessity in general public international law, but also brought up some new dilemmas. This paper analyses the use of necessity in international investment law in light of what the authors suggest to be the legal purpose of this concept, points to and discusses the divergences in case law with respect to some of the elements of the defence based on necessity and offers the solutions susceptible to lead to a more harmonious understanding of necessity in international investment law.

Oman: Current status, upstream and export developments, investment opportunities

International Nuclear Information System (INIS)

Skeet, I.

1994-01-01

Oil production in Oman has consistently increased since 1980 to reach its current level of ca 800,000 bbl/d. Reserves total ca 5 billion bbl and gas reserves are over 20 trillion ft 3 , of which a third is being dedicated for export. The main operator is Petroleum Development Oman (PDO), which is 60% owned by the Omani government. Some production areas are taken up by other companies under production sharing contracts. Gas is used for local industrial purposes and a third of gas reserves are being dedicated to a liquefied natural gas export scheme planned to be on-stream by 2000. The government has been seeking foreign investment and increasing private-sector participation, an example being a Belgian-Omani consortium to construct a 100-MW gas-fired power station. However, opportunities for investing in the upstream oil/gas sector are limited since most prospective areas have already been taken up. The economic, political, and social problems which may affect future investment are discussed. Oman is essentially a one-resource economy and declines in oil prices have led to widening government deficits. Social expectations created by the oil-financed welfare state make it difficult for government expenditures to be cut back. There is lack of public debate in the state-controlled media and no public participation in policy and decision making. There is a perception of widening corruption in government and a nascent movement toward a more rigid Islamic view of society. Controls are needed to maintain a reasonable balance between oil revenues and public expenditures, while pressures from an increasingly literate and numerous population will demand changes to the traditional autocratic system of government. 5 figs., 2 tabs

ESTIMATION CRITERIA OF INVESTMENT INNOVATIVE PROJECTS IN HEALTHCARE SPHERE

OpenAIRE

Vadim A. Lomazov; Elena V. Nesterova

2013-01-01

The problem of evaluating investment projects in the health sector, implemented on a public-private partnership, is considered. As part of the procedure for constructing estimates is suggested to reveal medical, social, economic, scientific and innovative components of the project as a separate component of the project to be used as the analytic hierarchy subcriteria.

Comparability of Accounting Choices in Investment Properties of BM&FBOVESPA and NYSE Listed Companies

Directory of Open Access Journals (Sweden)

Reiner Alves Botinha

2017-04-01

Full Text Available This research aimed to identify the consequence of the accounting choices made by public companies managers listed on the NYSE and the BM&FBOVESPA, in relation to the subsequent measurement of investment properties, through identifying the comparability degree of financial reports from the year 2013. The degree of comparability was calculated using the T index Taplin. In this paper, it was observed that, in a more conservative way, to both stock exchanges, there was increased use of the cost method for the sample companies. Even with the existence of accounting choices, it is considered that there is comparability between accounting practices in the recognition of investment property from the companies listed on the BM&FBOVESPA and NYSE. However, the degree of comparability was presented low for the international comparability and in the medium, near the lower limit for comparability per stock exchange. A curious fact is the presentation of a greater degree of comparability for the companies listed on the BM&FBOVESPA in relation to listed on the NYSE, which is a more developed capital market. In the analysis of the comparability by sector, it was observed a medium degree close to the upper limit. It has also been inferred the low comparability degrees identified may be related to the different choices made by the companies regarding the measurement methods.

Minimal investment risk of a portfolio optimization problem with budget and investment concentration constraints

Science.gov (United States)

Shinzato, Takashi

2017-02-01

In the present paper, the minimal investment risk for a portfolio optimization problem with imposed budget and investment concentration constraints is considered using replica analysis. Since the minimal investment risk is influenced by the investment concentration constraint (as well as the budget constraint), it is intuitive that the minimal investment risk for the problem with an investment concentration constraint can be larger than that without the constraint (that is, with only the budget constraint). Moreover, a numerical experiment shows the effectiveness of our proposed analysis. In contrast, the standard operations research approach failed to identify accurately the minimal investment risk of the portfolio optimization problem.

MACROECONOMIC ENVIRONMENT AND GREENFIELD FOREIGN DIRECT INVESTMENT OF HOTEL BRANDS

Directory of Open Access Journals (Sweden)

Jože Perić

2016-12-01

Full Text Available The powerful attraction of foreign direct investment (FDI is particularly important for further development of tourism. The strategically focused attraction of FDI in tourism has a much higher significance because of the multiple effects in relation to other segments of the economy. In this context, it is necessary to highlight the investment engagement and the presence of globally branded luxury hotels. The purpose of the study is to assess the macroeconomic environment, the effects of greenfield FDI in tourism and, consequently, the presence of global hotel brands using the comparative analysis of the selected countries as the methodological basis of this study. The research results indicate that a favorable macroeconomic environment plays an important role in attracting foreign capital. Countries that have a more favorable macroeconomic environment attract more greenfield FDI, and provide a greater presence of global hotel brands, and thus greater competitiveness. Also, the political stability, the encouraging macroeconomic business conditions, the elimination of administrative and legislative barriers, the elimination of the country's image as a corrupt destination and tourism staff education at all levels are particularly important for FDI in tourism.

Estimating investor preferences towards portfolio return distribution in investment funds

Directory of Open Access Journals (Sweden)

Margareta Gardijan

2015-03-01

Full Text Available Recent research in the field of investor preference has emphasised the need to go beyond just simply analyzing the first two moments of a portfolio return distribution used in a MV (mean-variance paradigm. The suggestion is to observe an investor's utility function as an nth order Taylor approximation. In such terms, the assumption is that investors prefer greater values of odd and smaller values of even moments. In order to investigate the preferences of Croatian investment funds, an analysis of the moments of their return distribution is conducted. The sample contains data on monthly returns of 30 investment funds in Croatia for the period from January 1999 to May 2014. Using the theoretical utility functions (DARA, CARA, CRRA, we compare changes in their preferences when higher moments are included. Moreover, we investigate an extension of the CAPM model in order to find out whether including higher moments can explain better the relationship between the awards and risk premium, and whether we can apply these findings to estimate preferences of Croatian institutional investors. The results indicate that Croatian institutional investors do not seek compensation for bearing greater market risk.

Strategic choices for renewable energy investment: Conceptual framework and opportunities for further research

International Nuclear Information System (INIS)

Wüstenhagen, Rolf; Menichetti, Emanuela

2012-01-01

This paper introduces the special issue on Strategic Choices for Renewable Energy Investment, which is a collection of best papers presented at an international research conference held in St. Gallen (Switzerland) in February 2010. Substantial private investment is needed if public policy objectives to increase the share of renewable energy and prevent dangerous anthropogenic climate change are to be achieved. The aim of this paper, and the entire special issue, is to draw scholarly attention to the processes underlying strategic choices for renewable energy investment, and how they are influenced by energy policy. We disentangle the role of risk-return perceptions, portfolio effects and path dependence in explaining energy investment decisions, and suggest that the heterogeneous universe of investors requires a segmentation of policies. The paper outlines some of the rich opportunities for further research in this emerging area.

Leverage, Growth Opportunities and Firm Investment: The Case of Manufacturing Firms in China

OpenAIRE

Di Sheng; Shuyang Hou

2014-01-01

This paper examined the impact of financial leverage on investment decisions offirms using the panel data of publicly traded Chinese firms. We collected data for511 manufacturing companies during the period from 2005 to 2013 to do theresearch. The data shows that financial leverage is negatively correlated with afirm’s investment. Moreover, after we categorized the data into two types: 1)high-growth firms and 2) low-growth firms, it demonstrated that such negativecorrelation is significant fo...

ESTIMATION CRITERIA OF INVESTMENT INNOVATIVE PROJECTS IN HEALTHCARE SPHERE

Directory of Open Access Journals (Sweden)

Vadim A. Lomazov

2013-01-01

Full Text Available The problem of evaluating investment projects in the health sector, implemented on a public-private partnership, is considered. As part of the procedure for constructing estimates is suggested to reveal medical, social, economic, scientific and innovative components of the project as a separate component of the project to be used as the analytic hierarchy subcriteria.

Analysis of petroleum company investments in nonpetroleum energy sources. Book I

Energy Technology Data Exchange (ETDEWEB)

Ryan, P. Jr.; Ryan, T.C.

1979-12-12

The purpose of this report is to analyze the investment strategies of US oil companies and the depth of their present and future investments in nonpetroleum energy sources. For purposes of this study, the nonpetroleum energy sources to be discussed are coal, uranium/nuclear, synthetics from coal, oil shale, geothermal, and solar. To gather necessary subjective data, the authors interviewed the managements of more than forty companies, the majority of which are directly involved in the production of various forms of energy. Others are substantial energy users. Interviews were also held with various federal and state regulatory agencies, with federal legislative groups, and with representatives of industry associations. These interviews were not intended to be a survey; their purpose was rather to explore the perceptions of petroleum company managements concerning nonpetroleum energy sources and the reasons for their company's participation, or lack of participation, in the development of these resources. Quantitative data came from reports prepared by federal investigative and regulatory agencies, from testimony given before investigative and regulatory bodies, from public company reports (annual reports, quarterly reports, 10-K's, 8-K's, registration statements, press releases, etc.), from industry, research and investment organizations, from universities, and from a variety of publications.

Investing in Health to Create a Third Demographic Dividend.

Science.gov (United States)

Fried, Linda P

2016-04-01

The world is aging as a result of unprecedented successes worldwide adding 30 years of life expectancy and presenting great opportunities for all of society, but only if we invest effectively. This article, written as a requested background article for the World Health Organization 2015 World Report on Aging, proposes that creating health into the oldest ages could lay the basis for a third demographic dividend resulting from the societal benefits from the generative social capital of older adults, on top of the second demographic dividend's savings associated with longer lives. The combination would contribute to stronger and wealthier societies, greater success of the young, and increased societal ability to provide the humane supports needed at the end of life, plus a dividend that would endure. We now know that prevention works at every age and into the oldest ages. A life-course approach to prevention and health promotion is the key investment. The creation of geriatrically knowledgeable and integrated public health, medical and social care systems has the potential to amplify capabilities and well-being to the end of life. Healthy older populations bring both desire for engagement and unique talents. Institutions designed to create impactful roles for older adults to contribute to the success of the young can activate the societal benefits and further enhance health at older ages. Creating a new vision for the opportunities of an older age is the first critical step toward experiencing the benefits of our longer lives and creating a sustained third demographic dividend. © The Author 2016. Published by Oxford University Press on behalf of The Gerontological Society of America. All rights reserved. For permissions, please e-mail: journals.permissions@oup.com.

12 CFR Appendix 1 to Part 24 - CD-1-National Bank Community Development (Part 24) Investments

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 1 2010-01-01 2010-01-01 false CD-1-National Bank Community Development (Part 24) Investments 1 Appendix 1 To Part 24 Banks and Banking COMPTROLLER OF THE CURRENCY, DEPARTMENT OF... PUBLIC WELFARE INVESTMENTS Pt. 24, App. 1 Appendix 1 To Part 24—CD-1—National Bank Community Development...

Foreign direct investment vs domestic investment across the European Union. Case study: Romania

Directory of Open Access Journals (Sweden)

Romeo Victor IONESCU

2015-11-01

Full Text Available The paper deals with the idea that investment process is important not only for the economic growth, but for the global integration. There is a powerful connection between FDI and domestic investments. As a result, the analysis is focused on FDI flows in EU28 and Euro area. The comparative analysis is followed by regression, in order to point out the disparities between Member States and their trend. The average value of inward and outward FDI flows is analysed using FDI intensity. A distinct part of the paper is focused on domestic investment process and analyses total investment, investment in construction and investment in equipment. The analysis is supported by the latest official statistical data, pertinent diagrams and tables. The main conclusion of the paper is that the economic crisis in Europe led to a decrease in FDI and domestic investment flows.

The effects of local government investment on economic growth and employment: evidence from transitional China

Institute of Scientific and Technical Information of China (English)

Zhang Weiguo; Hou Yongjian

2009-01-01

Based on the panel data of 28 provinces in the year of 1987-2001,this paper examines the effects of the local government investment on economic growth and employment.The empirical result shows that the local government investment plays a significant positive role in economic growth and emplovment.However,while the proportion of local government investment to GDP had a remarkable rise after 1998.the elasticity of local government investment on economic growth declined,which shows that there is a hig room for raising the efficiency of local government mvestment.Moreover,the empirical examination shows that although local government investment had positive effect on employment,the elasticity had a decrease after 1994 when the tax-sharing system reform was put into practice.This shows that the positive role of local government investment on emplovment is also limited.This paper argues that the role of local governments as investors must be weakened,and local governments of different levels should lessen direct economic intervention and concentrate on public regulation.

Application of multi-criteria decision analysis in selecting of sustainable investments

Science.gov (United States)

Kozik, Renata

2017-07-01

Investors of construction projects, especially financed with public money, quite slowly adapt environmentally friendly solutions, e.g. passive buildings. Practice shows that the use of green public procurement among the public investors is negligible. Energy-saving technologies and equipment are expensive at the construction phase and investors less or not at all take into account the future operating costs. The aim of this article is to apply the method of multi-criteria analysis ELECTRE to select the best investment in terms of cost of implementation, operation, as well as the impact on the environment.

76 FR 15057 - Notice of Proposed Exemption; BlackRock, Inc. and Its Investment Advisory, Investment Management...

Science.gov (United States)

2011-03-18

... Administration Notice of Proposed Exemption; BlackRock, Inc. and Its Investment Advisory, Investment Management...; BlackRock, Inc. and Its Investment Advisory, Investment Management and Broker-Dealer Affiliates and... its investment advisory, investment management and broker-dealer affiliates and their successors. The...

HIV Treatment and Prevention: A Simple Model to Determine Optimal Investment.

Science.gov (United States)

Juusola, Jessie L; Brandeau, Margaret L

2016-04-01

To create a simple model to help public health decision makers determine how to best invest limited resources in HIV treatment scale-up and prevention. A linear model was developed for determining the optimal mix of investment in HIV treatment and prevention, given a fixed budget. The model incorporates estimates of secondary health benefits accruing from HIV treatment and prevention and allows for diseconomies of scale in program costs and subadditive benefits from concurrent program implementation. Data sources were published literature. The target population was individuals infected with HIV or at risk of acquiring it. Illustrative examples of interventions include preexposure prophylaxis (PrEP), community-based education (CBE), and antiretroviral therapy (ART) for men who have sex with men (MSM) in the US. Outcome measures were incremental cost, quality-adjusted life-years gained, and HIV infections averted. Base case analysis indicated that it is optimal to invest in ART before PrEP and to invest in CBE before scaling up ART. Diseconomies of scale reduced the optimal investment level. Subadditivity of benefits did not affect the optimal allocation for relatively low implementation levels. The sensitivity analysis indicated that investment in ART before PrEP was optimal in all scenarios tested. Investment in ART before CBE became optimal when CBE reduced risky behavior by 4% or less. Limitations of the study are that dynamic effects are approximated with a static model. Our model provides a simple yet accurate means of determining optimal investment in HIV prevention and treatment. For MSM in the US, HIV control funds should be prioritized on inexpensive, effective programs like CBE, then on ART scale-up, with only minimal investment in PrEP. © The Author(s) 2015.

MONITORING MECHANISM FOR INVESTMENT DEVELOPMENT OF REGIONS’ INFRASTRUCTURE

Directory of Open Access Journals (Sweden)

Halyna Leshuk

2017-09-01

Full Text Available The subject of the research is the theoretical and methodological principles of the monitoring mechanism of investment development of regions’ infrastructure. The objectives of the research are the generalization of theoretical and methodological bases of monitoring mechanism of investment development of regions’ infrastructure, as well as analysis of the current trends of investment development of the infrastructure in the regions of Ukraine with the identification of positive and negative trends. Methodology. The article deals with theoretical and methodological approaches to the definition of conceptual foundations of the mechanism of monitoring the investment development of the regions’ infrastructure with the help of general scientific methods of analysis: systematization and generalization, induction, and deduction. Results. It is proposed to interpret a monitor of the investment development of the regional infrastructure (IDRI as a systematic and complex measurement of the indicators of regional infrastructure development, the number of implemented investment projects, monitoring compliance with the developed strategic regional programs and concepts, which will ultimately help to effectively and efficiently regulate the detected deviations and passing the appropriate decisions. The IDRI monitoring mechanism should also provide a possibility of creating a system for collecting and analysing data concerning the assessment of infrastructure objects by the territorial community, which will allow potential investors to focus not only on analytical data on monitoring of regional authorities but also to take into account the public interest in a particular region. The general principles of the monitoring mechanism of investment development of the regions infrastructure are proposed in the following directions: complex and system monitoring and data collection concerning the development of the regions’ infrastructure, while the aggregate

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...

Science in the Public Sphere: Greater Sage-grouse Conservation Planning from a Transdisciplinary Perspective

Science.gov (United States)

Torregrosa, Alicia; Casazza, Michael L.; Caldwell, Margaret R.; Mathiasmeier, Teresa A.; Morgan, Peter M.; Overton, Cory T.

2010-01-01

Integration of scientific data and adaptive management techniques is critical to the success of species conservation, however, there are uncertainties about effective methods of knowledge exchange between scientists and decisionmakers. The conservation planning and implementation process for Greater Sage-grouse (Centrocercus urophasianus; ) in the Mono Basin, Calif. region, was used as a case study to observe the exchange of scientific information among stakeholders with differing perspectives; resource manager, scientist, public official, rancher, and others. The collaborative development of a risk-simulation model was explored as a tool to transfer knowledge between stakeholders and inform conservation planning and management decisions. Observations compiled using a transdisciplinary approach were used to compare the exchange of information during the collaborative model development and more traditional interactions such as scientist-led presentations at stakeholder meetings. Lack of congruence around knowledge needs and prioritization led to insufficient commitment to completely implement the risk-simulation model. Ethnographic analysis of the case study suggests that further application of epistemic community theory, which posits a strong boundary condition on knowledge transfer, could help support application of risk simulation models in conservation-planning efforts within similarly complex social and bureaucratic landscapes.

The Russian oil industry between public and private governance: obstacles to international oil companies' investment strategies

International Nuclear Information System (INIS)

Locatelli, Catherine

2006-01-01

The low level of involvement by international oil companies in Russia seems difficult to explain given what development of its resources and production has to offer. There are still many restrictions and contradictions, born of the particular institutional and political environment of the Russian oil industry at the end of 15 years of transition, that act as a bar to international integration. Three factors currently define the establishment of relations with foreign investors. First, because of the many different levels of negotiation with Russian companies, the State and the Regions, the decisions are based on complex relations between the various forces. Second, the reforms, and especially privatisation and the allocation of rights of ownership to deposits, are considered by sizeable sections of public opinion and many political classes to be illegitimate, thus making the issue of international investment and foreign presence still more complicated. Finally, the State's wish to take back the oil industry in order to use it to fulfil its economic and foreign policies is creating further uncertainty. These three elements seriously restrict the entry of international oil companies to the Russian market

The estimation of the return on firms' investments – as to ISO 9001

African Journals Online (AJOL)

user

3Faculty of Business and Economic Science, University of Seville, SPAIN ... companies said they had not yet recovered the initial investment made. ..... applied themselves more particularly in the production of tangible products produced in serie (Peyrat, .... greater than the costs of obtaining it, we using contingency tables.

26 CFR 1.1445-8 - Special rules regarding publicly traded partnerships, publicly traded trusts and real estate...

Science.gov (United States)

2010-04-01

... partnerships, publicly traded trusts and real estate investment trusts (REITs). 1.1445-8 Section 1.1445-8... estates upon the disposition of U.S. real property interests. Except as otherwise provided in this... Bonds § 1.1445-8 Special rules regarding publicly traded partnerships, publicly traded trusts and real...

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…

75 FR 12584 - Sunshine Act; Public Hearing

Science.gov (United States)

2010-03-16

... OVERSEAS PRIVATE INVESTMENT CORPORATION Sunshine Act; Public Hearing March 17, 2010. OPIC's Sunshine Act notice of its Public Hearing in Conjunction with each Board meeting was published in the... provide testimony or submit written statements for the record; therefore, OPIC's public hearing scheduled...

75 FR 54661 - Sunshine Act-Public Hearing

Science.gov (United States)

2010-09-08

... OVERSEAS PRIVATE INVESTMENT CORPORATION Sunshine Act--Public Hearing OPIC's Sunshine Act notice of its Public Hearing in Conjunction with each Board meeting was published in the Federal Register... submit written statements for the record; therefore, OPIC's public hearing scheduled for 2 PM, September...

Predicting Individual Investors- Intention to Invest: An Experimental Analysis of Attitude as a Mediator

OpenAIRE

Azwadi Ali

2011-01-01

The survival of publicly listed companies largely depends on their stocks being liquidly traded. This goal can be achieved when new investors are attracted to invest on companies- stocks. Among different groups of investors, individual investors are generally less able to objectively evaluate companies- risks and returns, and tend to be emotionally biased in their investing decisions. Therefore their decisions may be formed as a result of perceived risks and returns, and ...

Incentives to invest in liberalised electricity industries in the North and South. Differences in the need for suitable institutional arrangements

International Nuclear Information System (INIS)

Finon, Dominique

2006-01-01

The issue of investment is all too often underplayed in deregulation reforms focused on market rules and de-integration measures. This presentation criticises first the optimistic approach of the theory of investment incentives through market signals when it is applied to deregulated electricity industries. The greater part of the investment in base-load and peak equipment should be made profitable by income from very high prices during peak and extreme peak periods, that raises a problem of political acceptability. The problem is then addressed in the context of the mature electricity industries in the North. Given the maturity of markets there, a number of modifications to the pure market model could be envisaged to strengthen incentives to invest, but none of them is perfect. The main way is to focus on adaptation of market rules on the supply of power at peaks and extreme peaks by considering 'capacity adequacy' as a public good (with three solutions: capacity payment, reserve obligations, centralised procurement by auctioning for peak capacity). Observation of reforms suggests also the validity of some other solutions based on a limitation of the competition by allowing long-term contracts and vertical integration between production and supply. Finally the question is extended to the specific problem of developing countries characterised by irregular growth. It is argued that reforms must be designed in view of the importance of the need for investment through long-term coordination and reduction of investment risks. Indeed experiences of Latin American liberalised industries show that they have to include a number of competition-based imperfections and to allow ongoing exercise of market power in order to allow prices to rise above competition prices. The single buyer model or some variants of it appear to be good alternatives if one wishes to avoid the twists and turns of the competition paradigm. The difficulty with this model arises from the institutional

Pengaruh Investment Oportunity Set Terhadap volume perdagangan Saham Perusahaan Go Public Di...

OpenAIRE

Gusrifa, Rahmad

2007-01-01

Tujuan penelitian ini adalah untuk menguji pengaruh investment opportunity set terhadap volume perdagangan saham antara perusahan yang berpotensi tumbuh dan perusahaan yang tidak berpotensi tumbuh. Ada enam proksi yang digunakan sebagai variabel 10S, yaitu rasio market to hook value of assets (A7/VA HVA), ratio market to hook value of equity (WERI/A), rusio price to earning (flip), rust capital expenditure to hook value of assets (CAP 13114), rasio capital expenditure to market value of asset...

The investment community's need for information on nuclear waste

International Nuclear Information System (INIS)

Prior, C.B. Jr.

1982-01-01

The needs of the investment community for information on nuclear waste derive very simply from the fact that investor-owned utilities in the United States had invested $198 billion in nuclear electric generating stations at the end of 1980. The continuing nature of this need for information is also illustrated, very dramatically, by the fact that in 1981 an additional $8.6 billion of financing was effected in the public market by electric utilities with nuclear construction programs. When investors have this much money at stake and are continuing to receive offerings of securities from utilities building nuclear facilities, it is obvious that investors need adequate information on all phases of the nuclear power cycle in order to evaluate the risks involved

Investment in flood protection measures under climate change uncertainty. An investment decision

Energy Technology Data Exchange (ETDEWEB)

Bruin, Karianne de

2012-11-01

Recent river flooding in Europe has triggered debates among scientists and policymakers on future projections of flood frequency and the need for adaptive investments, such as flood protection measures. Because there exists uncertainty about the impact of climate change of flood risk, such investments require a careful analysis of expected benefits and costs. The objective of this paper is to show how climate change uncertainty affects the decision to invest in flood protection measures. We develop a model that simulates optimal decision making in flood protection, it incorporates flexible timing of investment decisions and scientific uncertainty on the extent of climate change impacts. This model allows decision-makers to cope with the uncertain impacts of climate change on the frequency and damage of river flood events and minimises the risk of under- or over-investment. One of the innovative elements is that we explicitly distinguish between structural and non-structural flood protection measures. Our results show that the optimal investment decision today depends strongly on the cost structure of the adaptation measures and the discount rate, especially the ratio of fixed and weighted annual costs of the measures. A higher level of annual flood damage and later resolution of uncertainty in time increases the optimal investment. Furthermore, the optimal investment decision today is influenced by the possibility of the decision-maker to adjust his decision at a future moment in time.(auth)

Financial investments in fuel cells and hydrogen projects in Brazil

Energy Technology Data Exchange (ETDEWEB)

Brito de Matos, Maiana; Neves, Newton Pimenta Jr.; Silva, Ennio Peres da; Silva Pinto, Cristiano [Universidade Estadual de Campinas (UNICAMP), SP (Brazil)

2010-07-01

This work aims to identify, classify and account for the investments in hydrogen and fuel cells from 1999 to 2007 made by the public and private sectors in Brazil. Two methodologies were applied to obtain the data for this study. The Top-Down methodology was used to obtain the information from the sponsoring agencies, institutions and funds that promote science and technology in Brazil, such as CNPq, FINEP, P and D ANEEL and Regional Foundations for Research Support. The Bottom-Up methodology consisted in obtaining data directly from the research groups granted by those agencies. After accounting the total Brazilian investment in the period, this was compared with the investments made by the other BRIC countries (Russia, India and China). Next, BRIC countries investment was compared with those made by the European Union, Japan and the United States. The results show that in order to participate in the market share related to equipment and services for the hydrogen economy, Brazil needs to increase the efforts in research, development and innovation in the area. It will be also necessary to apply resources in other important research issues besides ethanol reforming, polymer electrolyte and solid oxide fuel cells, which are the current technologies supported by the Brazilian funding agencies. To achieve this, resources that are already available could be used more efficiently. Another important evidence is that the total annual investment made BRIC countries together is of the same order of magnitude as the investments made separately by the European Union, Japan and the United States. (orig.)

77 FR 35082 - Arrow Investment Advisers, LLC and Arrow Investments Trust; Notice of Application

Science.gov (United States)

2012-06-12

... SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 30100; 812-13937] Arrow Investment Advisers, LLC and Arrow Investments Trust; Notice of Application June 6, 2012. AGENCY: Securities... 6(c) of the Investment Company Act of 1940 (``Act'') for an exemption from sections 2(a)(32), 5(a)(1...