WorldWideScience

Sample records for high capital costs

  1. Capital cost: low and high sulfur coal plants; 800 MWe

    Energy Technology Data Exchange (ETDEWEB)

    None

    1978-01-01

    This Commercial Electric Power Cost Study for 800-MWe (Nominal) low- and high-sulfur coal plants consists of three volumes. (This is the fourth subject in a series of eight performed in the Commercial Electric Power Cost Studies by the US NRC). The low-sulfur coal plant is described in Volumes I and II, while Volume III (this volume) describes the high sulfur coal plant. The design basis, drawings, and summary cost estimate for a 794-MWe high-sulfur coal plant are presented in this volume. This information was developed by redesigning the low-sulfur sub-bituminous coal plant for burning high-sulfur bituminous coal. The reference design includes a lime flue-gas-desulfurization system. These coal plants utilize a mechanical draft (wet) cooling tower system for condenser heat removal. Costs of alternate cooling systems are provided in Report No. 7 in this series of studies of costs of commercial electrical power plants.

  2. Capital cost: low and high sulfur coal plants; 800 MWe

    Energy Technology Data Exchange (ETDEWEB)

    None

    1978-01-01

    The Commercial Electric Power Cost Study for 800-MWe (Nominal) low- and high-sulfur coal plants consists of three volumes. (This the fourth subject in a series of eight performed in the Commercial Electric Power Cost Studies by the US NRC). The low-sulfur coal plant is described in Volumes I and II (this volume), while Volume III describes the high-sulfur coal plant. The design basis and cost estimate for the 801-MWe low-sulfur coal plant is presented in Volume I and the drawings, equipment list, and site description are contained in this document. The design basis, drawings, and summary cost estimate for a 794-MWe high-sulfur coal plant are presented in Volume III. This information was developed by redesigning the low-sulfur sub-bituminous coal plant for burning high-sulfur bituminous coal. The reference design includes a lime flue gas desulfurization system. These coal plants utilize a mechanical draft (wet) cooling tower system for condenser heat removal. Costs of alternate cooling systems are provided in Report No. 7 in this series of studies of costs of commercial electrical power plants.

  3. Controlling Capital Costs in High Performance Office Buildings: A Review of Best Practices for Overcoming Cost Barriers

    Energy Technology Data Exchange (ETDEWEB)

    Pless, S.; Torcellini, P.

    2012-05-01

    This paper presents a set of 15 best practices for owners, designers, and construction teams of office buildings to reach high performance goals for energy efficiency, while maintaining a competitive budget. They are based on the recent experiences of the owner and design/build team for the Research Support Facility (RSF) on National Renewable Energy Facility's campus in Golden, CO, which show that achieving this outcome requires each key integrated team member to understand their opportunities to control capital costs.

  4. Capital cost: high and low sulfur coal plants-1200 MWe. [High sulfur coal

    Energy Technology Data Exchange (ETDEWEB)

    1977-01-01

    This Commercial Electric Power Cost Study for 1200 MWe (Nominal) high and low sulfur coal plants consists of three volumes. The high sulfur coal plant is described in Volumes I and II, while Volume III describes the low sulfur coal plant. The design basis and cost estimate for the 1232 MWe high sulfur coal plant is presented in Volume I, and the drawings, equipment list and site description are contained in Volume II. The reference design includes a lime flue gas desulfurization system. A regenerative sulfur dioxide removal system using magnesium oxide is also presented as an alternate in Section 7 Volume II. The design basis, drawings and summary cost estimate for a 1243 MWe low sulfur coal plant are presented in Volume III. This information was developed by redesigning the high sulfur coal plant for burning low sulfur sub-bituminous coal. These coal plants utilize a mechanical draft (wet) cooling tower system for condenser heat removal. Costs of alternate cooling systems are provided in Report No. 7 in this series of studies of costs of commercial electrical power plants.

  5. The Opportunity Cost of Capital

    Directory of Open Access Journals (Sweden)

    Ayman Chit PhD

    2015-04-01

    Full Text Available The opportunity cost of the capital invested in pharmaceutical research and development (R&D to bring a new drug to market makes up as much as half the total cost. However, the literature on the cost of pharmaceutical R&D is mixed on how, exactly, one should calculate this “hidden” cost. Some authors attempt to adopt models from the field of finance, whereas other prominent authors dismiss this practice as biased, arguing that it artificially inflates the R&D cost to justify higher prices for pharmaceuticals. In this article, we examine the arguments made by both sides of the debate and then explain the cost of capital concept and describe in detail how this value is calculated. Given the significant contribution of the cost of capital to the overall cost of new drug R&D, a clear understanding of the concept is critical for policy makers, investors, and those involved directly in the R&D.

  6. Cost of capital to the hospital sector.

    Science.gov (United States)

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

    1988-03-01

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

  7. The role of capital costs in decarbonizing the electricity sector

    Science.gov (United States)

    Hirth, Lion; Steckel, Jan Christoph

    2016-11-01

    Low-carbon electricity generation, i.e. renewable energy, nuclear power and carbon capture and storage, is more capital intensive than electricity generation through carbon emitting fossil fuel power stations. High capital costs, expressed as high weighted average cost of capital (WACC), thus tend to encourage the use of fossil fuels. To achieve the same degree of decarbonization, countries with high capital costs therefore need to impose a higher price on carbon emissions than countries with low capital costs. This is particularly relevant for developing and emerging economies, where capital costs tend to be higher than in rich countries. In this paper we quantitatively evaluate how high capital costs impact the transformation of the energy system under climate policy, applying a numerical techno-economic model of the power system. We find that high capital costs can significantly reduce the effectiveness of carbon prices: if carbon emissions are priced at USD 50 per ton and the WACC is 3%, the cost-optimal electricity mix comprises 40% renewable energy. At the same carbon price and a WACC of 15%, the cost-optimal mix comprises almost no renewable energy. At 15% WACC, there is no significant emission mitigation with carbon pricing up to USD 50 per ton, but at 3% WACC and the same carbon price, emissions are reduced by almost half. These results have implications for climate policy; carbon pricing might need to be combined with policies to reduce capital costs of low-carbon options in order to decarbonize power systems.

  8. Capital cost: low- and high-sulfur coal plants, 800 MWe

    Energy Technology Data Exchange (ETDEWEB)

    1977-01-01

    This Commercial Electric Power Cost Study for 800-MWe (Nominal) high- and low-sulfur coal plants consists of three volumes. The low-sulfur coal plant is described in Volumes I and II, while Volume III describes the high-sulfur coal plant. The design basis and cost estimate for the 801-MWe low sulfur coal plant is presented in Volume I, and the drawings, equimpment list, and site description are contained in Volume II. The design basis, drawings, and summary cost estimate for a 794-MWe high-sulfur coal plant are presented in Volume III. This information was developed by redesigning the low-sulfur sub-bituminous coal plant for burning high-sulfur bituminous coal. The reference design includes a lime flue-gas desulfurization system. These coal plants utilize a mechanical draft (wet) cooling tower system for condenser heat removal.

  9. INSURANCE AND THE CORPORATE COST OF CAPITAL

    Directory of Open Access Journals (Sweden)

    Monika Wieczorek-Kosmala

    2012-04-01

    Full Text Available The purpose of the paper is to provide some support to the thesis that insurance may reduce the cost of capital in a company by influencing both the cost of capital components and the need for rising capital. The problem is here perceived from two perspectives – the classical concept related to the weighted average cost of capital (WACC and a novel concept related to the risk-based capital structure model with the total average cost of capital (TACC. The paper explains the idea of insurance as a retrospective (post-loss risk financing tool and the risk transfer mechanism upon it. As the risk financing tool insurance reduces the need for the balance-sheet capital in a company and thus the financial distress costs. Also, insurance may reduce the level of operating risk and thus influences the required returns of the capital providers. These observations allow emphasising the impact of insurance on the WACC. However, according to the novel concept of the risk-based capital structure, insurance (as a risk financing tool represents an off-balance sheet capital component. As a consequence, it extends the volume of total capital. The presented conceptual model, based on the TACC concept, indicates that large volume of insurance (the insurance sum and its relatively low cost (the insurance premium gives the possibility to the significant reduction of the cost of capital on average. The concluding remarks discuss some dilemmas over the utility of the TACC concept.

  10. Capital cost: high and low sulfur coal plants-1200 MWe. [For low sulfur coal

    Energy Technology Data Exchange (ETDEWEB)

    1977-01-01

    This Commercial Electric Power Cost Study for 1200 MWe (Nominal) high and low sulfur coal plants consists of three volumes. The high sulfur coal plant is described in Volumes I and II, while Volume III describes the low sulfur coal plant. The design basis and cost estimate for the 1232 MWe high sulfur coal plant is presented in Volume I, and the drawings, equipment list and site description are contained in Volume II. The reference design includes a lime flue gas desulfurization system. A regenerative sulfur dioxide removal system using magnesium oxide is also presented as an alternate in Section 7 V olume II. The design basis, drawings and summary cost estimate for a 1243 MWe low sulfur coal plant are presented in Volume III. This information was developed by redesigning the high sulfur coal plant for burning low sulfur sub-bituminous coal. These coal plants utilize a mechanical draft (wet) cooling tower system for condenser heat removal. Costs of alternate cooling systems are provided in Report No. 7 in this series of studies of costs of commercial electrical power plants.

  11. APPLICATION OF COST OF CAPITAL FOR CAPITAL STRUCTURING IN CROATIAN FIRMS

    Directory of Open Access Journals (Sweden)

    Silvije Orsag

    2014-12-01

    Full Text Available This paper show result of empirical analysis application of cost of capital for capital structuring in Croatian firms. Intensity of this applications is highly unrespectable because Croatian firms usually calculated cost of capital in their capital budgeting process. Analysis also show low inconsistency of Croatian firm’s capital structures with peaking order theory. The paper shows that Croatian firm’s employ debt in their capital structure close to the debt equity ratio 1:1, with the significant portion of trade credit and short term bank credits. This short term liabilities are greater than 60% of total used debt in analyzing firms. Finally, paper shows that with degree of using the cost of capital in capital structuring rise profitability of analyzing firms.

  12. Capital cost expenditure of high temperature latent and sensible thermal energy storage systems

    Science.gov (United States)

    Jacob, Rhys; Saman, Wasim; Bruno, Frank

    2017-06-01

    In the following study cost estimates have been undertaken for an encapsulated phase change material (EPCM) packed bed, a packed bed thermocline and a traditional two-tank molten salt system. The effect of various heat transfer fluids (air and molten salt), system configuration (cascade vs one PCM, and direct vs indirect) and temperature difference (ΔT = 100-500 °C) on the cost estimate of the system was also investigated. Lastly, the storage system boundary was expanded to include heat exchangers, pumps and fans, and heat tracing so that a thorough cost comparison could be undertaken. The results presented in this paper provide a methodology to quickly compare various systems and configurations while providing design limits for the studied technologies.

  13. 42 CFR 412.302 - Introduction to capital costs.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 2 2010-10-01 2010-10-01 false Introduction to capital costs. 412.302 Section 412... Inpatient Hospital Capital Costs General Provisions § 412.302 Introduction to capital costs. (a) New capital... hospital is required under State law to obtain preapproval of the capital project or acquisition by a...

  14. Capital cost: gas cooled fast reactor plant

    Energy Technology Data Exchange (ETDEWEB)

    1977-09-01

    The results of an investment cost study for a 900 MW(e) GCFR central station power plant are presented. The capital cost estimate arrived at is based on 1976 prices and a conceptual design only, not a mature reactor design.

  15. Capitals Cost and the Investments Actualisation Rate

    Directory of Open Access Journals (Sweden)

    Ion Stancu

    2006-04-01

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

  16. LIFE Cost of Electricity, Capital and Operating Costs

    Energy Technology Data Exchange (ETDEWEB)

    Anklam, T

    2011-04-14

    Successful commercialization of fusion energy requires economic viability as well as technical and scientific feasibility. To assess economic viability, we have conducted a pre-conceptual level evaluation of LIFE economics. Unit costs are estimated from a combination of bottom-up costs estimates, working with representative vendors, and scaled results from previous studies of fission and fusion plants. An integrated process model of a LIFE power plant was developed to integrate and optimize unit costs and calculate top level metrics such as cost of electricity and power plant capital cost. The scope of this activity was the entire power plant site. Separately, a development program to deliver the required specialized equipment has been assembled. Results show that LIFE power plant cost of electricity and plant capital cost compare favorably to estimates for new-build LWR's, coal and gas - particularly if indicative costs of carbon capture and sequestration are accounted for.

  17. Cost of Capital when Dividends are Deductible

    Directory of Open Access Journals (Sweden)

    Ignacio Velez-Pareja

    2011-09-01

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

  18. 78 FR 13933 - Railroad Cost of Capital-2012

    Science.gov (United States)

    2013-03-01

    ... cost of debt capital; (2) the railroads' 2012 current cost of preferred equity capital (if any); (3... Surface Transportation Board Railroad Cost of Capital--2012 AGENCY: Surface Transportation Board, DOT. ACTION: Notice of decision instituting a proceeding to determine the railroad industry's 2012 cost...

  19. 77 FR 6625 - Railroad Cost of Capital-2011

    Science.gov (United States)

    2012-02-08

    ... cost of debt capital; (2) the railroads' 2011 current cost of preferred equity capital (if any); (3... Surface Transportation Board Railroad Cost of Capital--2011 AGENCY: Surface Transportation Board. ACTION: Notice of decision instituting a proceeding to determine the railroad industry's 2011 cost of...

  20. 75 FR 16894 - Railroad Cost of Capital-2009

    Science.gov (United States)

    2010-04-02

    ... current cost of debt capital; (2) the railroads' 2009 current cost of preferred equity capital (if any... Surface Transportation Board Railroad Cost of Capital--2009 AGENCY: Surface Transportation Board, DOT. ACTION: Notice of decision instituting a proceeding to determine the railroad industry's 2009 cost...

  1. Information and the Cost of Capital: An Ex Ante Perspective

    DEFF Research Database (Denmark)

    Christensen, Peter Ove; de la Rosa, Leonidas Enrique; Feltham, Gerald A.

    2010-01-01

    Recent articles have demonstrated that increased public disclosure can decrease firms' cost of capital. The focus has been on the impact of information on the cost of capital subsequent to the release of the information (the ex post cost of capital). We show that the reduction in the ex post cost...... of capital is offset by an equal increase in the cost of capital for the period leading up to the release of the information (the preposterior cost of capital). Thus, within the class of models framing the recent discussion, there is no impact on the ex ante cost of capital covering the full time span...... investors may actually benefit from a higher ex post cost of capital....

  2. When Does Information Asymmetry Affect the Cost of Capital?

    OpenAIRE

    Armstrong, Christopher S.; John E. Core; Taylor, Daniel J.; Robert E Verrecchia

    2009-01-01

    This paper examines when information asymmetry among investors affects the cost of capital in excess of standard risk factors. When equity markets are perfectly competitive, information asymmetry has no separate effect on the cost of capital. When markets are imperfect, information asymmetry can have a separate effect on firms’ cost of capital. Consistent with our prediction, we find that information asymmetry has a positive relation with firms’ cost of capital in excess of standard risk fact...

  3. 76 FR 10430 - Railroad Cost of Capital-2010

    Science.gov (United States)

    2011-02-24

    ... 2010. The decision solicits comments on the following issues: (1) The railroads' 2010 current cost of debt capital; (2) the railroads' 2010 current cost of preferred equity capital (if any); (3) the... Surface Transportation Board Railroad Cost of Capital--2010 AGENCY: Surface Transportation Board....

  4. What's your real cost of capital?

    Science.gov (United States)

    McNulty, James J; Yeh, Tony D; Schulze, William S; Lubatkin, Michael H

    2002-10-01

    In valuing any investment project or corporate acquisition, executives must decide what discount rate to use in their estimates of future cash flows. The traditional approach is to apply the capital asset pricing model (CAPM), which has remained fundamentally unchanged for 40 years. But the formula--in particular, its beta element--has long been a source of frustration. In fact, corporate executives and investment bankers routinely fudge their CAPM estimates, say the authors, because experience and intuition tell them the model produces inappropriate discount rates. CAPM has three main problems: First, beta is a measure of both a stock's correlation and its volatility; second, beta is based on historical data; and third, CAPM rates don't take into account the term of the investment. These factors together result in discount rates that defy common sense. As an alternative to CAPM and its beta element, the authors developed a forward-looking approach to calculating a company's cost of capital, the market-derived capital pricing model (MCPM). It does not incorporate any measure of historical stock-to-market correlation, relying instead on estimates of future volatility derived from the options market. This is helpful since investor expectations from the options market are built into a company's current stock price. Using GE as an example, the authors give step-by-step instructions for how to calculate discount rates with MCPM. They also offer evidence from a range of industries to show that MCPM's discount rates are more realistic--especially from the corporate investor's perspective--than are CAPM's.

  5. The impact of intellectual capital disclosure on cost of equity capital: A case of French firms

    Directory of Open Access Journals (Sweden)

    Mohamed Ali Boujelbene

    2013-06-01

    Full Text Available The purpose of this paper is to examine empirically the impact of intellectual capital disclosure (IC on cost of Equity capital. The empirical research is based on companies listed in the French SBF 120 stock market index. The findings confirm our hypotheses that stipulate the existence of a significant and negative association between intellectual capital disclosure with its two components (human capital, structural and the cost of equity. However, the negative impact of the relational capital disclosure is not validated. The results in this paper are of considerable importance to both policy makers and firms. In fact, the understanding of the impact of Intellectual capital disclosure on cost of equity capital helps policy makers in the evaluation of the costs and benefits of disclosure. Moreover, with regard to managers of firms, the results show the benefit of enhanced IC disclosure regarding the reduction in their cost of capital. This study is one of the very first to provide empirical evidence of the association between Cost of equity capital and the level of disclosure in the three individual intellectual capital categories (human; structural and relational capital.

  6. Estimating the capital cost of underground car parking projects

    OpenAIRE

    Bastos, Mónica; Ribeiro, F. Loforte; Teixeira, José M. Cardoso

    2005-01-01

    Underground parking projects are expansive. The capital cost of underground parking project has been, and still is, one of the promoter's main economic concerns. Therefore, the capital cost estimation is an essential taskin the early stages pf underground parking projcts. In this context, the promoters mainly use cost estimation models, most of them produced by methodologies with lack of precision and with low performances. Over the last yeras Portugal has embarked ona a large programme of...

  7. Reducing the cost of health care capital.

    Science.gov (United States)

    Silberman, R

    1984-08-01

    Although one may ask four financial experts their opinion on the future of the hospital capital market and receive five answers, the blatant need for financial strategic planning is evident. Clearly, the hospital or system with sound financial management will be better positioned to gain and/or maintain an edge in the competitive environment of the health care sector. The trends of the future include hospitals attempting to: Maximize the efficiency of invested capital. Use the expertise of Board members. Use alternative capital sources. Maximize rate of return on investments. Increase productivity. Adjust to changes in reimbursements. Restructure to use optimal financing for capital needs, i.e., using short-term to build up debt capacity if long-term financing is needed in the future. Take advantage of arbitrage (obtain capital and reinvest it until the funds are needed). Delay actual underwriting until funds are to be used. Better management of accounts receivable and accounts payable to avoid short-term financing for cash flow shortfalls. Use for-profit subsidiaries to obtain venture capital by issuing stock. Use product line management. Use leasing to obtain balance sheet advantages. These trends indicate a need for hospital executives to possess a thorough understanding of the capital formation process. In essence, the bottom line is that the short-term viability and long-term survival of a health care organization will greatly depend on the financial expertise of its decision-makers.

  8. The opportunity cost of capital: development of new pharmaceuticals.

    Science.gov (United States)

    Chit, Ayman; Chit, Ahmad; Papadimitropoulos, Manny; Krahn, Murray; Parker, Jayson; Grootendorst, Paul

    2015-01-01

    The opportunity cost of the capital invested in pharmaceutical research and development (R&D) to bring a new drug to market makes up as much as half the total cost. However, the literature on the cost of pharmaceutical R&D is mixed on how, exactly, one should calculate this "hidden" cost. Some authors attempt to adopt models from the field of finance, whereas other prominent authors dismiss this practice as biased, arguing that it artificially inflates the R&D cost to justify higher prices for pharmaceuticals. In this article, we examine the arguments made by both sides of the debate and then explain the cost of capital concept and describe in detail how this value is calculated. Given the significant contribution of the cost of capital to the overall cost of new drug R&D, a clear understanding of the concept is critical for policy makers, investors, and those involved directly in the R&D.

  9. NSSS capital costs for a mature LMFBR industry

    Energy Technology Data Exchange (ETDEWEB)

    Zaman, S.U.

    1978-10-23

    The conceptual design of a commercial LMFBR (Target Plant) and its NSSS capital cost have been developed in support of the United Engineers and Constructors Contract EN-78-C-02-4954 with the Department of Energy. The objective of this work is to provide the Department of Energy/Office of Program Planning and Analysis - Nuclear Energy Programs with periodic updates of technical, capital cost, fuel cycle cost, and operating and maintenance cost information. This effort supports Task 3B of the UE and C's Phase I Energy Economic Data Base (EEDB) Program. Past estimates of LMFBR capital costs have generally predicted that these costs would be higher than those of a comparably sized LWR, primarily due to the more demanding technology associated wih higher temperatures and the large number of engineered systems. The LMFBR, because of its low fuel cycle costs, can tolerate a capital cost premium relative to thermal reactors. The key issues, therefore, are: the allowable LMFBR cost premium, and the steps necessary to reduce the capital cost below the projected allowable cost premium for a safe and reliable plant.

  10. Carbon Emission Disclosure and the Cost of Capital: An Analysis of Malaysian Capital Market

    National Research Council Canada - National Science Library

    Noor Raida Binti Abd Rahman; Nor Hasimah Binti Johari; Nor Edi Azhar Binti Mohamad

    2017-01-01

    ...) on the firm’s weighted-average cost of capital. A carbon disclosure index is used to evaluate the quality of carbon emission disclosure in 2013 and 2014 annual reports of 247 Malaysian public listed companies...

  11. Capitalizing strategic planning costs to recognize future value.

    Science.gov (United States)

    Meeting, D T; Luecke, R W

    1995-04-01

    As healthcare organizations devote more resources to strategic planning, financial managers should consider capitalizing, rather than expensing, planning costs. Traditionally, healthcare organizations have absorbed these costs in the year a plan is developed. However, a strategic plan may be viewed as an intangible asset that provides the organization with future benefits. Therefore, its costs can be amortized over the plan's life.

  12. Human capital demand in Brazil: The effects of adjustment cost, economic growth, exports and imports

    Directory of Open Access Journals (Sweden)

    Joilson Dias

    2015-01-01

    Full Text Available The objective of this paper is to learn about the effects of the adjustment costs, economic growth, imports and exports on human capital labor demand. The dynamic model proposed by Sargent (1978 was adjusted to consider three types of human capital: (a one with fundamental education (1–8 years of schooling; (b one with secondary education level (9–11 years of education; (c and one with tertiary education level (12 years or more of schooling. Using state level panel data, the dynamic econometrics estimates showed the following results: (i the labor market adjustment costs are very higher; (ii the adjustment cost for the human capital with intermediary education level is the highest one compared to the others; (iii the states’ economic growth favor those with superior education; (iv the imports seems to favor the demand for those with intermediate education levels; (v the degree of openness does show some weak effect on the demand for human capitals with intermediate education. In sum, the growing demand for human capital with some superior education seems to be more associated to its lower adjustment cost and economic growth; the non-significance of real wage elasticity and high adjustment cost seems to indicate that the human capital with intermediate knowledge is in short supply; hence, economic education policy that increases supply of such human capital are in need.

  13. Breckinridge Project, initial effort. Report VIII. Capital cost estimate

    Energy Technology Data Exchange (ETDEWEB)

    None

    1982-01-01

    The major objective of the Initial Effort for the Breckinridge Project is to develop engineering to the point where realistic economics for the construction and operation of the plant can be made. The plant is designed to process 23,000 tons per day of run-of-mine coal to produce a nominal 50,000 barrels per day of liquid products using the H-COAL and standard industry technology. The plant will be located in Breckinridge County, Kentucky. Considerable preliminary engineering has been performed for this estimate. This work uses a single-point design based on the Process Demonstration Unit (PDU) data from run 5, period 29 of the pilot plant. The design basis is discussed in Volume II of this report. Many aspects of plant construction and cost have been considered that were not taken into account in the past studies. Ashland and Bechtel believe the accuracy of the capital estimate to be +19%, -17%. This accuracy is postulated on January 1981 dollars, the as-spent dollar amount naturally depending upon the inflation rate through the construction period. Considerable attention has been devoted to reliability of operation, and redundant equipment has been used where it was deemed necessary to assure reasonable onstream time. This equipment is included in the capital estimate. The capital is summarized by total plant cost on Table 1. The subtotal plant cost, excluding contingency, fee, and adjustment is $2,710,940,000. Adding the contingency, fee and adjustment, the total depreciable cost of the plant is $3,167,430,000. Adding the working capital to the total plant cost results in total capital requirements of $3,258,430,000 as shown on the individual plant cost summary Table 2.

  14. Depreciation cost for the capital investment of a pyroprocess facility

    Energy Technology Data Exchange (ETDEWEB)

    Kim, S. K.; Lee, S. H.; Ko, W. I. [Korea Atomic Energy Research Institute, Daejeon (Korea, Republic of)

    2015-10-15

    The pyroprocess produces U/TRU metal ingots using four important processes, pretreatment, electrochemical reduction, electrorefining and electrowinning, in order to recycle spent fuel. KAPF+'s capacity is shown the cost that is injected into the KAPF+. The pyroprocess unit cost is data that are essential for inputting to calculate the pyroprocess-Sodiumcooled Fast Reactor (SFR) nuclear fuel cycle cost. Moreover, since the pyroprocess facility's depreciation cost is included in the manufacturing indirect cost of the pyroprocess cost, it can become an important element for judging the pyroprocess' economic viability. Since the pyroprocess unit cost calculates the sum of the costs that are incurred each year by dividing with the total amount of U/TRU ingot produced, the pyroprocess unit cost uncertainty increases as well when the uncertainty of the costs incurred by each year increases. KAPF+, which is a commercialization facility, was set as the cost object, and the existing methods (straightline method and fixed percentage of declining-balance method) used today and the depreciation cost of the ADDM were subjected to a comparative analysis. The results are as follows. First, in case of the straight-line method that calculated the durable period as 40 years, and in case of ADDM that factored in a 5% deceleration rate, the difference in the depreciation costs of $65.26/kgHM and $119.05/kgHM resulted during the first and last years, respectively. Accordingly, it was analyzed that there is a significant difference in terms of the cost of the capital investment every year depending on the depreciation method. Secondly, since the depreciation cost is a component of the manufacturing indirect cost, it is necessary to maintain a trend that is similar to that of the direct labor cost in addition to the direct material cost.

  15. 48 CFR 52.215-17 - Waiver of Facilities Capital Cost of Money.

    Science.gov (United States)

    2010-10-01

    ... Capital Cost of Money. 52.215-17 Section 52.215-17 Federal Acquisition Regulations System FEDERAL... Provisions and Clauses 52.215-17 Waiver of Facilities Capital Cost of Money. As prescribed in 15.408(i), insert the following clause: Waiver of Facilities Capital Cost of Money (OCT 1997) The Contractor did...

  16. 48 CFR 52.215-16 - Facilities Capital Cost of Money.

    Science.gov (United States)

    2010-10-01

    ... Money. 52.215-16 Section 52.215-16 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION....215-16 Facilities Capital Cost of Money. As prescribed in 15.408(h), insert the following provision: Facilities Capital Cost of Money (JUN 2003) (a) Facilities capital cost of money will be an allowable...

  17. Minimum Cost Design of Distributed Energy Resources with Studying the Effect of Capital Cost and Replacement Cost

    Directory of Open Access Journals (Sweden)

    Mehdi Nafar

    2012-02-01

    Full Text Available This study presents an optimized design of HPS in a distribution system including sources like, photovoltaic array, Diesel generator and battery bank.In this research, an algorithm has been developed for evaluation and cost optimization HPS. The costs include capital cost, replacement cost, operation and maintenance cost, fuel cost and production cost for HPS and DG power during different load profile. Then an objective function with aim to minimizing of total costs has been considered. A genetic algorithm approach is employed to obtain the best cost value of HPS construction. This study tested on case study network on Mardasht city in Iran.

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

    Directory of Open Access Journals (Sweden)

    Juan Carlos Gutiérrez Betancur

    2009-12-01

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

  19. Corporation Income Taxes and the Cost of Capital: A Revision

    Directory of Open Access Journals (Sweden)

    James W. Kolari

    2012-12-01

    Full Text Available The value of debt tax shields in foundational corporate valuation models by Nobel Laureates Modigliani and Miller (MM continues to be a controversial issue that is central to our understanding of corporate finance. Rather than discounting debt interest payments using a riskless interest rate or unlevered equity rate, the present paper proposes the use of the levered cost of equity. Assuming no bankruptcy risk and no personal taxes, our revised tax model yields an inverted U-shaped firm value function with an interior optimal capital structure. Analyses are extended to Miller’s personal tax extension of MM’s tax model. Also, implications to corporate capital structure decisions and previous literature are discussed.

  20. Understanding the cost of capital of logistics service providers: an empirical investigation of multiple contingency variables

    National Research Council Canada - National Science Library

    Lampe, Kerstin; Hofmann, Erik

    2014-01-01

    ...); in addition of being a measure of performance, the cost of capital is an important variable for logistics service providers in decisions about investing capital and developing the appropriate strategy...

  1. "If You Show Who You Are, Then They Are Going to Try to Fix You": The Capitals and Costs of Schooling for High-Achieving Latina Students

    Science.gov (United States)

    Locke, Leslie Ann; Tabron, Lolita A.; Venzant Chambers, Terah T.

    2017-01-01

    Schools are supposed to be places where students learn academic and technical skills while also expanding their social networks. Although much research exists that examines academic achievement from a variety of lenses, schools and educators continue to lack insight into the various strengths--or capital--students bring with them to school…

  2. "If You Show Who You Are, Then They Are Going to Try to Fix You": The Capitals and Costs of Schooling for High-Achieving Latina Students

    Science.gov (United States)

    Locke, Leslie Ann; Tabron, Lolita A.; Venzant Chambers, Terah T.

    2017-01-01

    Schools are supposed to be places where students learn academic and technical skills while also expanding their social networks. Although much research exists that examines academic achievement from a variety of lenses, schools and educators continue to lack insight into the various strengths--or capital--students bring with them to school…

  3. Disclosure and the Cost of Capital: Evidence from Firms' Responses to the Enron Shock

    OpenAIRE

    Christian Leuz; Catherine Schrand

    2009-01-01

    This paper examines the link between disclosure and the cost of capital. We exploit an exogenous cost of capital shock created by the Enron scandal in Fall 2001 and analyze firms' disclosure responses to this shock. These tests are opposite to the typical research design that analyzes cost of capital responses to disclosure changes. In reversing the tests and using an exogenous shock, we mitigate concerns about omitted variables in traditional cross-sectional disclosure studies. We estimate s...

  4. Accessing Low-Cost Capital Through Securitization (Poster)

    Energy Technology Data Exchange (ETDEWEB)

    Mendelsohn, M.

    2014-10-01

    Poster for Solar Power International conference presents information on NREL's effort to open capital markets through securitization via Solar Access to Public Capital (SAPC) working group's efforts.

  5. The sensitivity of capital services measurement : Measure all assets and the cost of capital

    NARCIS (Netherlands)

    Inklaar, R.

    2010-01-01

    The measurement of capital inputs is still a contentious issue: many choices have to be made that have potentially large effects on the resulting capital input series. This paper compares a large number of methodological choices and their impact on U.S. capital services at the industry and aggregate

  6. High political participation, high social capital? A relational analysis of youth social capital and political participation.

    Science.gov (United States)

    Teney, Celine; Hanquinet, Laurie

    2012-09-01

    Social capital has been alleged to increase the capacity for political mobilization. Yet, until now, the empirical debate has not succeeded in rendering a detailed account of the relationships between social capital and political participation partly because of the use of a reductive conception and operationalization of both concepts. Using a multidimensional and relational technique (multiple correspondence analysis) and a detailed youth survey data from Belgium, the article demonstrates that youth draw on diverse forms of social capital and that these forms vary along socio-economic status and ethnic origin. Six classes based on the forms of social capital were identified. Two of them - the 'Committed' and 'Religious' are highly political active. The 'Committed' Class, based on a diversified social capital, consists mainly of non-immigrant youth with a high socio-economic background undertaking a large diversity of political activities. The 'Religious' Class, based on a narrow social capital built around religious activities, is mostly composed of ethnic minority youth with a low SES involved in more specific political activities.

  7. Impact of power purchases from nonutilities on the utility cost of capital

    Energy Technology Data Exchange (ETDEWEB)

    Kahn, E.; Stoft, S.; Belden, T. [Lawrence Berkeley Lab., CA (United States). Energy and Environment Div.

    1994-03-01

    This report studies the debt-equivalence debate empirically. The topics of the study include a review of the literature on the cost of equity capital for regulated utilities, a formulation of the debate on NUGs and the utility`s cost of capital, a review of variable definitions and data sources, and a discussion of statistical issues and results.

  8. 48 CFR 9904.409 - Cost accounting standard-depreciation of tangible capital assets.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 7 2010-10-01 2010-10-01 false Cost accounting standard-depreciation of tangible capital assets. 9904.409 Section 9904.409 Federal Acquisition Regulations System COST...—depreciation of tangible capital assets....

  9. The Sensitivity of Capital Services Measurement: Measure all assets and the cost of capital

    OpenAIRE

    Inklaar, Robert

    2008-01-01

    The measurement of capital inputs is still a contentious issue: many choices have to be made that have potentially large effects on the resulting capital input series, some entailing differing assumptions about firm behaviour. This paper compares a large number of methodological choices and their impact on US capital services growth at the industry and aggregate level. The results show that measuring all assets, in particular intangible assets, and the choice for the rate of return matter sub...

  10. Development of underground-mine cost-estimating equations. [Dependence of initial capital cost, deferred capital cost and annual operating cost on region, annual mine output and seam depth

    Energy Technology Data Exchange (ETDEWEB)

    1981-03-06

    Table 3.3 summarizes the initial capital, deferred capital, and operating costs (in millions of 1980 dollars) for the four regionally-based underground model mines. The initial capital is divided into two components, fixed and variable. The fixed component is just the investment cost for surface facilities, which is assumed to be independent of mine size. The rest of the initial capital cost is associated with production (primarily face-related) and is assumed to vary linearly with mine size (i.e., annual output). There exists a concern that deferred capital costs will change due to entry mode. However, the installations concerned primarily with this point are depreciated off over the mine life and are not targeted for replacement. Therefore, deferred capital costs will not change significantly with entry mode changes or seam depth. In conclusion, it is our feeling that, within the resources of this project, development of cost adjustment factors relating productivity to various supply regions and seam heights is not practical. Assuming that productivity and, therefore, cost is independent of seam height will introduce errors into the system; however, their extent should be minimized by the incorporation of multiple model mines into the RAMC. Lastly, the relationship presented in this memorandum for depth of cover should be used in the RAMC.

  11. The Sensitivity of Capital Services Measurement : Measure all assets and the cost of capital

    NARCIS (Netherlands)

    Inklaar, Robert

    2008-01-01

    The measurement of capital inputs is still a contentious issue: many choices have to be made that have potentially large effects on the resulting capital input series, some entailing differing assumptions about firm behaviour. This paper compares a large number of methodological choices and their im

  12. 36 CFR 51.57 - How does a concessioner request arbitration of the construction cost of a capital improvement?

    Science.gov (United States)

    2010-07-01

    ... request arbitration of the construction cost of a capital improvement? 51.57 Section 51.57 Parks, Forests... Surrender Interest § 51.57 How does a concessioner request arbitration of the construction cost of a capital improvement? If a concessioner requests arbitration of the construction cost of a capital...

  13. Determining Capital Cost in Wastewater Treatment Installations Operating Under Inflow Characteristics Uncertainty

    Science.gov (United States)

    Batzias, D. F.; Pollalis, Y. A.

    2007-12-01

    This work deals with the determination of capital cost in wastewater treatment installations operating under inflow characteristics uncertainty. For this purpose, a methodological framework, under the form of an algorithmic procedure, has been designed/developed and successfully implemented in two cases of biological processing under steady state conditions. The results obtained are in satisfactory approximation with industrial data. Moreover, mathematical formulae have been derived for determining capital cost when processing takes place under unsteady state conditions; in this case, numerical approximation is necessary, since the expressions obtained have not analytic solution. Last, the influence of certain technical parameters on minimum capital cost is discussed.

  14. Molten Salt: Concept Definition and Capital Cost Estimate

    Energy Technology Data Exchange (ETDEWEB)

    Stoddard, Larry [Black & Veatch, Kansas City, MO (United States); Andrew, Daniel [Black & Veatch, Kansas City, MO (United States); Adams, Shannon [Black & Veatch, Kansas City, MO (United States); Galluzzo, Geoff [Black & Veatch, Kansas City, MO (United States)

    2016-06-30

    The Department of Energy’s (DOE’s) Office of Renewable Power (ORP) has been tasked to provide effective program management and strategic direction for all of the DOE’s Energy Efficiency & Renewable Energy’s (EERE’s) renewable power programs. The ORP’s efforts to accomplish this mission are aligned with national energy policies, DOE strategic planning, EERE’s strategic planning, Congressional appropriation, and stakeholder advice. ORP is supported by three renewable energy offices, of which one is the Solar Energy Technology Office (SETO) whose SunShot Initiative has a mission to accelerate research, development and large scale deployment of solar technologies in the United States. SETO has a goal of reducing the cost of Concentrating Solar Power (CSP) by 75 percent of 2010 costs by 2020 to reach parity with base-load energy rates, and to reduce costs 30 percent further by 2030. The SunShot Initiative is promoting the implementation of high temperature CSP with thermal energy storage allowing generation during high demand hours. The SunShot Initiative has funded significant research and development work on component testing, with attention to high temperature molten salts, heliostats, receiver designs, and high efficiency high temperature supercritical CO2 (sCO2) cycles. DOE retained Black & Veatch to support SETO’s SunShot Initiative for CSP solar power tower technology in the following areas: 1. Concept definition, including costs and schedule, of a flexible test facility to be used to test and prove components in part to support financing. 2. Concept definition, including costs and schedule, of an integrated high temperature molten salt (MS) facility with thermal energy storage and with a supercritical CO2 cycle generating approximately 10MWe. 3. Concept definition, including costs and schedule, of an integrated high temperature falling particle facility with thermal energy storage and with a supercritical CO2

  15. Falling Particles: Concept Definition and Capital Cost Estimate

    Energy Technology Data Exchange (ETDEWEB)

    Stoddard, Larry [Black & Veatch, Kansas City, MO (United States); Galluzzo, Geoff [Black & Veatch, Kansas City, MO (United States); Adams, Shannon [Black & Veatch, Kansas City, MO (United States); Andrew, Daniel [Black & Veatch, Kansas City, MO (United States)

    2016-06-30

    The Department of Energy’s (DOE) Office of Renewable Power (ORP) has been tasked to provide effective program management and strategic direction for all of the DOE’s Energy Efficiency & Renewable Energy’s (EERE’s) renewable power programs. The ORP’s efforts to accomplish this mission are aligned with national energy policies, DOE strategic planning, EERE’s strategic planning, Congressional appropriation, and stakeholder advice. ORP is supported by three renewable energy offices, of which one is the Solar Energy Technology Office (SETO) whose SunShot Initiative has a mission to accelerate research, development and large scale deployment of solar technologies in the United States. SETO has a goal of reducing the cost of Concentrating Solar Power (CSP) by 75 percent of 2010 costs by 2020 to reach parity with base-load energy rates, and to reduce costs 30 percent further by 2030. The SunShot Initiative is promoting the implementation of high temperature CSP with thermal energy storage allowing generation during high demand hours. The SunShot Initiative has funded significant research and development work on component testing, with attention to high temperature molten salts, heliostats, receiver designs, and high efficiency high temperature supercritical CO2 (sCO2) cycles.

  16. Structural and performance costs of reproduction in a pure capital breeder, the Children's python Antaresia childreni.

    Science.gov (United States)

    Lourdais, Olivier; Lorioux, Sophie; DeNardo, Dale F

    2013-01-01

    Females often manage the high energy demands associated with reproduction by accumulating and storing energy in the form of fat before initiating their reproductive effort. However, fat stores cannot satisfy all reproductive resource demands, which include considerable investment of amino acids (e.g., for the production of yolk proteins or gluconeogenesis). Because capital breeders generally do not eat during reproduction, these amino acids must come from internal resources, typically muscle proteins. Although the energetic costs of reproduction have been fairly well studied, there are limited data on structural and performance costs associated with the muscle degradation required to meet amino acid demands. Thus, we examined structural changes (epaxial muscle width) and performance costs (constriction and strength) over the course of reproduction in a pure capital breeder, the children's python (Antaresia childreni). We found that both egg production (i.e., direct resource allocation) and maternal care (egg brooding) induce muscle catabolism and affect performance of the female. Although epaxial muscle loss was minimal in nonreproductive females, it reached up to 22% (in females after oviposition) and 34% (in females after brooding) of initial muscle width. Interestingly, we found that individuals with higher initial muscular condition allocated more of their muscle into reproduction. The amount of muscle loss was significantly linked to clutch mass, underscoring the role of structural protein in egg production. Egg brooding significantly increased proteolysis and epaxial loss despite no direct allocation to the offspring. Muscle loss was linked to a significant reduction in performance in postreproductive females. Overall, these results demonstrate that capital-breeding females experience dramatic costs that consume structural resources and jeopardize performance.

  17. Game theory approach to optimal capital cost allocation in pollution control

    Institute of Scientific and Technical Information of China (English)

    1998-01-01

    This paper tries to integrate game theory, a very usefultool to resolve conflict phenomena, with optimal capital costallocation issue in total emission control. First the necessity ofallocating optimal capital costs fairly and reasonably amongpolluters in total emission control is analyzed. Then thepossibility of applying game theory to the issue of the optimalcapital cost allocation is expounded. Next the cooperative N-person game model of the optimal capital cost allocation and itssolution ways including method based on Shapley value, least coremethod, weak least core methods, proportional least core method,CGA method, MCRS method and so on are delineated. Finally throughapplication of these methods it is concluded that to apply gamethory in the optimal capital cost allocation issue is helpful toimplement the total emission control planning schemes successfully,to control pollution effectively, and to ensure sustainable development.

  18. Capital cost reimbursement to community hospitals under Federal health insurance programs.

    Science.gov (United States)

    Kinney, E D; Lefkowitz, B

    1982-01-01

    Issues in current capital cost reimbursement to community hospitals by Medicare and Medicaid are described, and options for change analyzed. Major reforms in the way the federal government pays for capital costs--in particular substitution of other methods of payment for existing depreciation reimbursement--could have significant impact on the structure of the health care system and on government expenditures. While such reforms are likely to engender substantial political opposition, they may be facilitated by broader changes in the reimbursement system.

  19. Valuation in emerging markets : how to adjust the cost of capital for country risk

    OpenAIRE

    Benserud, Mats; Austgulen, Henrik

    2006-01-01

    In this paper, we conduct valuations on four Argentine companies, all registered on the Buenos Aires Stock Exchange. Our goal is to investigate how to best calculate the relevant cost of capital in emerging markets. We start by thoroughly presenting the Argentine economic history and present macro-economic environment, before we present relevant theory for conducting valuations in emerging markets. We further carefully discuss theory on calculating the cost of capital and how to apply it. We ...

  20. 47 CFR 65.305 - Calculation of the weighted average cost of capital.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 3 2010-10-01 2010-10-01 false Calculation of the weighted average cost of... Carriers § 65.305 Calculation of the weighted average cost of capital. (a) The composite weighted average... Commission determines to the contrary in a prescription proceeding, the composite weighted average cost...

  1. Default Rate and Price of Capital in a Costly External Finance Model

    Directory of Open Access Journals (Sweden)

    Juan Pablo Medina

    2006-03-01

    Full Text Available Financial frictions have been used to enrich mechanisms transmission in macroeconomics. However, the predictions of real business cycle models of costly external finance imply a procyclical default rate, external premium and relative price of capital which seems at odds with the data. In this article, we include technology shocks that affect the average productivity and idiosyncratic risk of capital producers in a standard costly external finance model. These elements enhance the model to deliver a countercyclical default rate, external finance and relative price of capital premium which are more consistent with the data and contrary to the results obtained with a sector-neutral productivity shock. Intuitively, if the entrepreneurs’ investment projects become more productive in average, the relative price of capital and the default rate fall while investment and output increase. Using data on the relative price of capital, we perform a calibration of this type of shocks which highlights its business-cycle relevance.

  2. INTEREST ON EQUITY AND THE WEIGHTED AVERAGE COST OF CAPITAL

    OpenAIRE

    LUCAS AUGUSTO DE MORAIS PILOTO

    2008-01-01

    Diversos métodos são utilizados para o cálculo do valor justo de uma empresa. Dentre os métodos mais usados, estão o método do fluxo de caixa descontado, onde os fluxos de caixa estimados da empresa são trazidos a valor presente por uma taxa para se chegar a uma estimativa de valor da empresa. Esta taxa é uma média ponderada do custo de capital próprio e do custo de capital de terceiros, sendo conhecida pela sigla WACC. No Brasil, entretanto, existe uma peculiaridade na legi...

  3. The integrated supplier: key to cost management and multi-franchise capitation contracting.

    Science.gov (United States)

    Schuweiler, R C

    1996-05-01

    Capitation...most healthcare providers do not work under it, comprehend it, or even want it, yet supply capitation contracting seminars are popping up everywhere creating the feeling that the bandwagon is leaving, and it might be time to get on board. Not true. Supply capitation is not for all organizations. Capitation contracting is not easy and there are not many successful models to help the uninitiated. If a panacea is sought for reducing supply costs, capitation is only one component of a systematic strategy to reduce materiel costs. This article suggests a direction using the Group Health Materiel Management (Group Health Cooperative of Puget Sound, WA) experience as a point of reference. It advocates a systematic approach that focuses on expense reduction in: cost of goods, holding cost of inventory, labor cost associated with all materiel processes, distribution cost (transportation and par stock pick, pack, and replenishment), product utilization, variation in product standards, and waste stream byproducts. At Group Health (GH) these issues are primarily addressed through the use of: information systems, supplier certification/selection processes, group purchasing compliance, supply channel management, supply capitation contracting programs, standardization, and utilization management. Because of managed care organizational structure, Group Health Cooperative supply capitation contracting, as performed at GH, is discussed not as a quick fix solution but in the spirit of sharing our experience with others who may be considering it as a cost savings tactic in the context of a broad-based materiel management strategy. This article highlights the experiences of GH beginning with materiel management's business process assumptions toward multiple-franchise supply capitation.

  4. Capital Cost: Pressurized Water Reactor Plant Volume 1

    Energy Technology Data Exchange (ETDEWEB)

    1977-06-01

    The investment cost study for the 1139-MW(e) pressurized water reactor (PWR) central station power plant consists of two volumes. This volume includes in addition to the foreword and summary, the plant description and the detailed cost estimate.

  5. The Optimal Solution of the Model with Physical and Human Capital Adjustment Costs

    Institute of Scientific and Technical Information of China (English)

    RAO Lan-lan; CAI Dong-han

    2004-01-01

    We prove that the model with physical and human capital adjustment costs has optimal solution when the production function is increasing return and the structure of vetor fields of the model changes substantially when the prodution function from decreasing return turns to increasing return.And it is shown that the economy is improved when the coefficients of adjustment costs become small.

  6. Mental Health Costs and Access Under Alternative Capitation Systems in Colorado

    Science.gov (United States)

    Bloom, Joan R; Hu, Teh-wei; Wallace, Neal; Cuffel, Brian; Hausman, Jaclyn W; Sheu, Mei-Ling; Scheffler, Richard

    2002-01-01

    Objective To examine service cost and access for persons with severe mental illness under Medicaid mental health capitation payment in Colorado. Capitation contracts were made with two organizational models: community mental health centers (CMHCs) that manage and deliver services (direct capitation [DC]) and joint ventures between CMHCs and a for-profit managed care firm (managed behavioral health organization, [MBHO]) and compared to fee for service (F.F.S.). Data Sources/Study Setting Both primary and secondary data were collected for the year prior to the new financing policy and the following two years (1995–1998). Study Design A stratified random sample of 522 severely mentally ill subjects was selected from comparable geographic areas within the capitated and FFS regions of Colorado. Major variables include service cost, utilization, and access (probability of service use) derived from secondary claims data, subject reported access collected at six-month intervals, and baseline outcomes (symptoms, functioning, and quality of life). Principal Findings In comparison to the FFS area, cost per person was reduced in the capitated areas in each of the two years following implementation. By the end of year two, cost per person was reduced by two-thirds in the MBHO areas and by one-fifth in the DC areas. Reductions in access were found for both capitated areas, although reductions in utilization for those receiving service were found only in the MBHO model. Conclusions Medicaid mental health capitation in Colorado resulted in cost reducing service changes for persons with severe mental illness. Assessment of outcome change is necessary to identify cost effectiveness. PMID:12035996

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

    Directory of Open Access Journals (Sweden)

    David Castillo-Merino

    2014-05-01

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

  8. DAYA INFORMASI AKUNTANSI MEMODERASI PENGARUH POSITIF CORPORATE SOCIAL RESPONSIBILTY TERHADAP COST OF EQUITY CAPITAL

    Directory of Open Access Journals (Sweden)

    Gede Adi Yuniarta

    2017-03-01

    Full Text Available This research investigated the influence of informativeness of accounting on the relation of Corporate SocialResponsibility disclosure and the cost of equity capital of public companies listed in the Indonesian StockExchange in the period of 2008-2012. Purposive sampling method was used to determine samples and 154observations were obtained. Hypothesis testing was conducted using moderated regression analysis (MRA.This study found that the informativeness of accounting influenced the relation of Corporate Social Responsibilitydisclosure and the cost of equity capital. It weakened the positive impact of corporate social responsibilityon the cost of equity capital. The greater level of Corporate Social Responsibility disclosure accompanied by agood informativeness of accounting by companies, the lower the cost of equity capital was. Corporate SocialResponsibility disclosure with good informativeness accounting would give potential benefits like the growingnumber of investors, reducing estimated risks and asymmetry of information each of which indicated areduction in the cost of equity capital of firms.

  9. Information and Heterogeneous Beliefs: Cost of Capital, Trading Volume, and Investor Welfare

    DEFF Research Database (Denmark)

    Christensen, Peter Ove; Qin, Zhenjiang

    In an incomplete market setting with heterogeneous prior beliefs, we show that public information can have a substantial impact on the ex ante cost of capital, trading volume, and investor welfare. In a model with exponential utility investors and an asset with a normally distributed dividend......, the Pareto efficient public information system is the system which enjoys the maximum ex ante cost of capital, and the maximum expected abnormal trading volume. The public information system facilitates improved dynamic trading opportunities based on heterogeneously updated posterior beliefs in order to take...... information system. In an effectively complete market setting, in which investors do not need to trade dynamically in order to take full advantage of their differences in beliefs, the ex ante cost of capital and the investor welfare are both higher than in the incomplete market setting...

  10. Information and Heterogeneous Beliefs: Cost of Capital, Trading Volume, and Investor Welfare

    DEFF Research Database (Denmark)

    Christensen, Peter Ove; Qin, Zhenjiang

    In an incomplete market setting with heterogeneous prior beliefs, we show that public information can have a substantial impact on the ex ante cost of capital, trading volume, and investor welfare. In a model with exponential utility investors and an asset with a normally distributed dividend...... information system. In an effectively complete market setting, in which investors do not need to trade dynamically in order to take full advantage of their differences in beliefs, the ex ante cost of capital and the investor welfare are both higher than in the incomplete market setting......, the Pareto efficient public information system is the system which enjoys the maximum ex ante cost of capital, and the maximum expected abnormal trading volume. The public information system facilitates improved dynamic trading opportunities based on heterogeneously updated posterior beliefs in order to take...

  11. The Determinants Factors of the Capital Cost � Evidence from 5 EU Countries

    Directory of Open Access Journals (Sweden)

    Georgiana Sterea

    2016-07-01

    Full Text Available The aim of the paper is to highlight the importance and complexity of the company�s capital and its components and the extent to which its cost is influenced by several factors. In order to achieve this goal we have made a study on a sample of 15 companies from Romania and other 4 EU countries: Italy, Spain, France and Finland. All are SME�s and micro-enterprises that acting in the sector of "Growing of spices, aromatic, drug and pharmaceutical crops". For the study of capital cost determinants were selected five variables: return on equity, return on assets, general indebtedness, taxation and firm�s size in order to determine their influence on the cost of capital.

  12. Capital Regulation, the Cost of Financial Intermediation and Bank Profitability: Evidence from Bangladesh

    Directory of Open Access Journals (Sweden)

    Changjun Zheng

    2017-04-01

    Full Text Available In response to the recent global financial crisis, the regulatory authorities in many countries have imposed stringent capital requirements in the form of the BASEL III Accord to ensure financial stability. On the other hand, bankers have criticized new regulation on the ground that it would enhance the cost of funds for bank borrowers and deteriorate the bank profitability. In this study, we examine the impact of capital requirements on the cost of financial intermediation and bank profitability using a panel dataset of 32 Bangladeshi banks over the period from 2000 to 2015. By employing a dynamic panel generalized method of moments (GMM estimator, we find robust evidence that higher bank regulatory capital ratios reduce the cost of financial intermediation and increase bank profitability. The results hold when we use equity to total assets ratio as an alternative measure of bank capital. We also observe that switching from BASEL I to BASEL II has no measurable impact on the cost of financial intermediation and bank profitability in Bangladesh. In the empirical analysis, we further observe that higher bank management and cost efficiencies are associated with the lower cost of financial intermediation and higher bank profitability. These results have important implications for bank regulators, academicians, and bankers.

  13. Willingness to pay and cost of illness for changes in health capital depreciation.

    Science.gov (United States)

    Ried, W

    1996-01-01

    The paper investigates the relationship between the willingness to pay and the cost of illness approach with respect to the evaluation of economic burden due to adverse health effects. The basic intertemporal framework is provided by Grossman's pure investment model, while effects on individual morbidity are taken to be generated by marginal changes in the rate of health capital depreciation. More specifically, both the simple example of purely temporary changes and the more general case of persistent variations in health capital depreciation are discussed. The analysis generates two principal findings. First, for a class of identical individuals cost as measured by the cost of illness approach is demonstrated to provide a lower bound on the true welfare cost to the individual, i.e. cost as given by the willingness to pay approach. Moreover, the cost of illness is increasing in the size of the welfare loss. Second, if one takes into account the possible heterogeneity of individuals, a clear relationship between the cost values supplied by the two approaches no longer exists. As an example, the impact of variations in either financial wealth or health capital endowment is discussed. Thus, diversity in individual type turns out to blur the link between cost of illness and the true economic cost.

  14. Conceptual capital-cost estimate and facility design of the Mirror-Fusion Technology Demonstration Facility

    Energy Technology Data Exchange (ETDEWEB)

    1982-09-01

    This report contains contributions by Bechtel Group, Inc. to Lawrence Livermore National Laboratory (LLNL) for the final report on the conceptual design of the Mirror Fusion Technology Demonstration Facility (TDF). Included in this report are the following contributions: (1) conceptual capital cost estimate, (2) structural design, and (3) plot plan and plant arrangement drawings. The conceptual capital cost estimate is prepared in a format suitable for inclusion as a section in the TDF final report. The structural design and drawings are prepared as partial inputs to the TDF final report section on facilities design, which is being prepared by the FEDC.

  15. CVP ANALYSIS INCORPORATING THE COST OF CAPITAL ON R&D INVESTMENT

    Directory of Open Access Journals (Sweden)

    DIAN PRIHADYANTI

    2011-04-01

    Full Text Available Cost-volume-profit (CVP analysis is a widely used tool for managerial planning. The failure of CVP analysis to incorporate the cost of capital into a product's cost function can lead to underestimating a product's cost, while overstating its profitability. This paper proposes another variation of the CVPanalytical model to include cost of capital on R&D investment and its risk level on strategic decisions. The modified CVP model provides more useful information to management because it focuses on morespecific type of investment which has particular characteristics. The CVP model developed is more complex, because it includes risk and uncertainty for the expected revenue, and specifies the R&D expense as percentage of total sales. However, the model still needs further development.

  16. Wind-To-Hydrogen Project: Electrolyzer Capital Cost Study

    Energy Technology Data Exchange (ETDEWEB)

    Saur, G.

    2008-12-01

    This study is being performed as part of the U.S. Department of Energy and Xcel Energy's Wind-to-Hydrogen Project (Wind2H2) at the National Renewable Energy Laboratory. The general aim of the project is to identify areas for improving the production of hydrogen from renewable energy sources. These areas include both technical development and cost analysis of systems that convert renewable energy to hydrogen via water electrolysis. Increased efficiency and reduced cost will bring about greater market penetration for hydrogen production and application. There are different issues for isolated versus grid-connected systems, however, and these issues must be considered. The manner in which hydrogen production is integrated in the larger energy system will determine its cost feasibility and energy efficiency.

  17. Rightsizing HVAC Systems to Reduce Capital Costs and Save Energy

    Science.gov (United States)

    Sebesta, James

    2010-01-01

    Nearly every institution is faced with the situation of having to reduce the cost of a construction project from time to time through a process generally referred to as "value engineering." Just the mention of those words, however, gives rise to all types of connotations, thoughts, and memories (usually negative) for those in the facilities…

  18. Does Access to Finance Lower Firms’ Cost of Capital? Empirical Evidence from International Manufacturing Data

    NARCIS (Netherlands)

    Lashitew, Addisu A.

    2011-01-01

    Lack of access to finance is argued to be one of the most binding constraints for firm growth. There is, however, limited empirical evidence on the relationship between access to finance and the cost of capital. This paper uses international manufacturing data to analyze the effect of access to fina

  19. Does Access to Finance Lower Firms’ Cost of Capital? Empirical Evidence from International Manufacturing Data

    NARCIS (Netherlands)

    Lashitew, Addisu A.

    2011-01-01

    Lack of access to finance is argued to be one of the most binding constraints for firm growth. There is, however, limited empirical evidence on the relationship between access to finance and the cost of capital. This paper uses international manufacturing data to analyze the effect of access to fina

  20. 47 CFR 65.300 - Calculations of the components and weights of the cost of capital.

    Science.gov (United States)

    2010-10-01

    ... the cost of capital. 65.300 Section 65.300 Telecommunication FEDERAL COMMUNICATIONS COMMISSION... of financing that are not investor supplied, or that are otherwise subtracted from a carrier's rate... that are made pursuant to section 203 of the Communications Act of 1934, 47 U.S.C. 203, or that...

  1. 42 CFR 413.130 - Introduction to capital-related costs.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 2 2010-10-01 2010-10-01 false Introduction to capital-related costs. 413.130 Section 413.130 Public Health CENTERS FOR MEDICARE & MEDICAID SERVICES, DEPARTMENT OF HEALTH AND HUMAN... depreciable assets under § 413.134(f). (2) Taxes on land or depreciable assets used for patient care....

  2. Towards a differentiated capitation system : relation between patient characteristics, contacts and costs

    NARCIS (Netherlands)

    Olthof, Marijke; Groenhof, Feikje; Berger, Marjolein Y.

    2015-01-01

    Background and objective. A new payment system could curb primary health care costs. A differentiated capitation system based on patient characteristics could be the best mix for payment. To test the feasibility of such a system, we examined the number of contacts between patients and general practi

  3. Early-Stage Capital Cost Estimation of Biorefinery Processes: A Comparative Study of Heuristic Techniques.

    Science.gov (United States)

    Tsagkari, Mirela; Couturier, Jean-Luc; Kokossis, Antonis; Dubois, Jean-Luc

    2016-09-08

    Biorefineries offer a promising alternative to fossil-based processing industries and have undergone rapid development in recent years. Limited financial resources and stringent company budgets necessitate quick capital estimation of pioneering biorefinery projects at the early stages of their conception to screen process alternatives, decide on project viability, and allocate resources to the most promising cases. Biorefineries are capital-intensive projects that involve state-of-the-art technologies for which there is no prior experience or sufficient historical data. This work reviews existing rapid cost estimation practices, which can be used by researchers with no previous cost estimating experience. It also comprises a comparative study of six cost methods on three well-documented biorefinery processes to evaluate their accuracy and precision. The results illustrate discrepancies among the methods because their extrapolation on biorefinery data often violates inherent assumptions. This study recommends the most appropriate rapid cost methods and urges the development of an improved early-stage capital cost estimation tool suitable for biorefinery processes. © 2015 The Authors. Published by Wiley-VCH Verlag GmbH & Co. KGaA.

  4. Developing a Cost Model and Methodology to Estimate Capital Costs for Thermal Energy Storage

    Energy Technology Data Exchange (ETDEWEB)

    Glatzmaier, G.

    2011-12-01

    This report provides an update on the previous cost model for thermal energy storage (TES) systems. The update allows NREL to estimate the costs of such systems that are compatible with the higher operating temperatures associated with advanced power cycles. The goal of the Department of Energy (DOE) Solar Energy Technology Program is to develop solar technologies that can make a significant contribution to the United States domestic energy supply. The recent DOE SunShot Initiative sets a very aggressive cost goal to reach a Levelized Cost of Energy (LCOE) of 6 cents/kWh by 2020 with no incentives or credits for all solar-to-electricity technologies.1 As this goal is reached, the share of utility power generation that is provided by renewable energy sources is expected to increase dramatically. Because Concentrating Solar Power (CSP) is currently the only renewable technology that is capable of integrating cost-effective energy storage, it is positioned to play a key role in providing renewable, dispatchable power to utilities as the share of power generation from renewable sources increases. Because of this role, future CSP plants will likely have as much as 15 hours of Thermal Energy Storage (TES) included in their design and operation. As such, the cost and performance of the TES system is critical to meeting the SunShot goal for solar technologies. The cost of electricity from a CSP plant depends strongly on its overall efficiency, which is a product of two components - the collection and conversion efficiencies. The collection efficiency determines the portion of incident solar energy that is captured as high-temperature thermal energy. The conversion efficiency determines the portion of thermal energy that is converted to electricity. The operating temperature at which the overall efficiency reaches its maximum depends on many factors, including material properties of the CSP plant components. Increasing the operating temperature of the power generation

  5. Social capital and physical activity among Croatian high school students.

    Science.gov (United States)

    Novak, D; Doubova, S V; Kawachi, I

    2016-06-01

    To examine factors associated with regular physical activity in Croatian adolescents. A cross-sectional survey among high school students was carried out in the 2013/14 school year. A survey was conducted among 33 high schools in Zagreb City, Croatia. Participants were students aged 17-18 years. The dependent variables were regular moderate to vigorous physical activity (MVPA) and overall physical activity measured by the short version of International Physical Activity Questionnaire and defined as 60 min or more of daily physical activity. The independent variables included family, neighborhood, and high school social capital. Other study covariates included: socio-economic status, self-rated health, psychological distress and nutritional status. The associations between physical activity and social capital variables were assessed separately for boys and girls through multiple logistic regression and inverse probability weighting in order to correct for missing data bias. A total of 1689 boys and 1739 girls responded to the survey. A higher percentage of boys reported performing regular vigorous and moderate physical activity (59.4%) and overall physical activity (83.4%), comparing with the girls (35.4% and 70%, respectively). For boys, high family social capital and high informal social control were associated with increased odds of regular MVPA (1.49, 95%CI: 1.18 - 1.90 and 1.26, 95%CI: 1.02 - 1.56, respectively), compared to those with low social capital. For girls, high informal social control was associated with regular overall physical activity (OR 1.38, 95% CI: 1.09 - 1.76). High social capital is associated with regular MVPA in boys and regular overall activity in girls. Intervention and policies that leverage community social capital might serve as an avenue for promotion of physical activity in youth. Copyright © 2016 The Royal Society for Public Health. Published by Elsevier Ltd. All rights reserved.

  6. High Standard Capital Farmland Construction Based on Grain Security

    Institute of Scientific and Technical Information of China (English)

    Zhi ZHANG; Zhongxiang YU

    2016-01-01

    In the context that global grain security is still in very severe situation,the grain security situation in China is not optimistic as well. The " Red Line of Farmland Area" cannot completely solve the grain security problems in China. We still need to seek new breakthroughs in the quality and yield of farmland. The construction of high standard capital farmland is the important premise to guarantee national grain security. On this basis,this paper has summarized the difficulties we are facing in the construction of high standard capital farmland,and has proposed the methods and measures to construct high standard capital farmland and lay a solid foundation for grain security in China.

  7. Capital and operating costs for industrial boilers. Final report Apr-Jun 79

    Energy Technology Data Exchange (ETDEWEB)

    Gibbs, L.L.; AbrahaM, J.P.; Noe, N.D.; Forste, D.S.; Kimball, H.T.

    1979-06-01

    The report provides estimates of capital and operating costs for industrial boilers. Costs are related to the type of fuel fired, firing design and rated capacity. Both package and field-erected boilers are evaluated. Fuels considered include coal, residual oil, distillate oil and natural gas. Firing designs for coal include underfeed-stoker, spreader-stoker and pulverized. Rated capacities range from 15(10 to the 6th)Btu/hr for oil and gas to 700(10 to the 6th)Btu/hr for coal. Costs are developed on a study estimate basis. Individual boiler cost estimates were plotted and cost equations developed for total equipment, installation (direct and indirect) and operating costs (variable and fixed).

  8. Dimensions of Social Capital among High School Mathematics Teachers

    Science.gov (United States)

    Koebley, Sarah Cotton

    2013-01-01

    This study sought to uncover teacher perceptions of social capital within a high school mathematics department utilizing a research design that acknowledged the complex environment faced by high school teachers and their subsequent interpretations of how and from whom they sought access to professional resources. Through an analysis of narratives…

  9. Assesing the Impact of Local Incentives on Capital Cost: The Case of the Indiana Era Program

    Directory of Open Access Journals (Sweden)

    Esteban G. DALEHITE

    2006-02-01

    Full Text Available Public policy makers and administrators around the world recurrently face the question of whether to grant tax privileges to businesses in order to promote investment, jobs, or economic development in general. This article analyzes a very popular form of local incentive, the property tax abatement, and its ability to reduce capital cost. The research question is: By how much do property tax abatements reduce the capital cost of business and homes? Results show that abatements can account for quite a large range of possible percentage reductions in the price of investment for firms. The findings provide public administrators and policy makers with data and a tool to assess the benefits that firms derive from abatements. This in turn can contribute to more informed abatement decisions and to an overall assessment concerning the suitability of this tool to promote economic development.

  10. Environmental residuals and capital costs of energy recovery from municipal sludge and feedlot manure

    Energy Technology Data Exchange (ETDEWEB)

    Ballou, S W; Dale, L; Johnson, R; Chambers, W; Mittelhauser, H

    1980-09-01

    The capital and environmental cost of energy recovery from municipal sludge and feedlot manure is analyzed. Literature on waste processing and energy conversion and interviews with manufacturers were used for baseline data for construction of theoretical models using three energy conversion processes: anaerobic digestion, incineration, and pyrolysis. Process characteristics, environmental impact data, and capital costs are presented in detail for each conversion system. The energy recovery systems described would probably be sited near large sources of sludge and manure, i.e., metropolitan sewage treatment plants and large feedlots in cattle-raising states. Although the systems would provide benefits in terms of waste disposal as well as energy production, they would also involve additional pollution of air and water. Analysis of potential siting patterns and pollution conflicts is needed before energy recovery systems using municipal sludge can be considered as feasible energy sources.

  11. Managerial Optimism and the Cost of Capital. The SEM-Approach with a Focus on the German Capital Market 

    Directory of Open Access Journals (Sweden)

    Jan-Hendrik Meier

    2016-04-01

    Full Text Available The present study contributes the first analysis of the influence of managerial optimism on companies’ financing policy and cost of capital. Since overconfidence biases investment and financing decisions, it may directly and indirectly influence a company’s risks and value. In contrast to prior research, which has almost exclusively been focused on the analysis of leverage, the present paper also takes risk measures into account to decompose the cost of capital and to identify direct and indirect effects of managerial optimism by using structural equation modeling (SEM. Based on a large sample of companies listed in Germany, this study found strong evidence that optimistic managers caused a higher equity risk and a higher risk of insolvency. However, this effect was not caused by the choice of leverage, and, thus, it must have been caused by investment-policy decisions. However, an optimistic management achieves a significant reduction in the overall cost of capital.

  12. Breast and prostate cancer productivity costs: a comparison of the human capital approach and the friction cost approach.

    Science.gov (United States)

    Hanly, Paul; Timmons, Aileen; Walsh, Paul M; Sharp, Linda

    2012-05-01

    Productivity costs constitute a substantial proportion of the total societal costs associated with cancer. We compared the results of applying two different analytical methods--the traditional human capital approach (HCA) and the emerging friction cost approach (FCA)--to estimate breast and prostate cancer productivity costs in Ireland in 2008. Data from a survey of breast and prostate cancer patients were combined with population-level survival estimates and a national wage data set to calculate costs of temporary disability (cancer-related work absence), permanent disability (workforce departure, reduced working hours), and premature mortality. For breast cancer, productivity costs per person using the HCA were € 193,425 and those per person using the FCA were € 8,103; for prostate cancer, the comparable estimates were € 109,154 and € 8,205, respectively. The HCA generated higher costs for younger patients (breast cancer) because of greater lifetime earning potential. In contrast, the FCA resulted in higher productivity costs for older male patients (prostate cancer) commensurate with higher earning capacity over a shorter time period. Reduced working hours postcancer was a key driver of total HCA productivity costs. HCA costs were sensitive to assumptions about discount and growth rates. FCA costs were sensitive to assumptions about the friction period. The magnitude of the estimates obtained in this study illustrates the importance of including productivity costs when considering the economic impact of illness. Vastly different results emerge from the application of the HCA and the FCA, and this finding emphasizes the importance of choosing the study perspective carefully and being explicit about assumptions that underpin the methods. Copyright © 2012 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

  13. IMPACT OF FINANCIAL CRISIS ON CONSTRUCTION FIRM`S COST OF CAPITAL

    Directory of Open Access Journals (Sweden)

    Schiau (Macavei Laura Liana

    2010-12-01

    Full Text Available The average cost of debt is negatively related with size, tangibility, firm growth, the leverage ratio, and the ratio of long- to short-term debt and positively to profitability. We find that the recent international crisis did have a significant impact on the set of firms in our sample, but affected the way in which leverage and the interest to debt ratio relate to firm fundamentals. In this article, we want to study the impact of financial crisis on the cost of capital using a sample of construction companies.

  14. Early‐Stage Capital Cost Estimation of Biorefinery Processes: A Comparative Study of Heuristic Techniques

    Science.gov (United States)

    Couturier, Jean‐Luc; Kokossis, Antonis; Dubois, Jean‐Luc

    2016-01-01

    Abstract Biorefineries offer a promising alternative to fossil‐based processing industries and have undergone rapid development in recent years. Limited financial resources and stringent company budgets necessitate quick capital estimation of pioneering biorefinery projects at the early stages of their conception to screen process alternatives, decide on project viability, and allocate resources to the most promising cases. Biorefineries are capital‐intensive projects that involve state‐of‐the‐art technologies for which there is no prior experience or sufficient historical data. This work reviews existing rapid cost estimation practices, which can be used by researchers with no previous cost estimating experience. It also comprises a comparative study of six cost methods on three well‐documented biorefinery processes to evaluate their accuracy and precision. The results illustrate discrepancies among the methods because their extrapolation on biorefinery data often violates inherent assumptions. This study recommends the most appropriate rapid cost methods and urges the development of an improved early‐stage capital cost estimation tool suitable for biorefinery processes. PMID:27484398

  15. Capital cost: pressurized water reactor plant. Commercial electric power cost studies

    Energy Technology Data Exchange (ETDEWEB)

    1977-06-01

    The investment cost study for the 1139 MW(e) pressurized water reactor (PWR) central station power plant consists of two volumes. This volume contains the drawings, equipment list and site description.

  16. Statistical analysis of regional capital and operating costs for electric power generation

    Energy Technology Data Exchange (ETDEWEB)

    Sanchez, L.R.; Myers, M.G.; Herrman, J.A.; Provanizano, A.J.

    1977-10-01

    This report presents the results of a three and one-half-month study conducted for Brookhaven National Lab. to develop capital and operating cost relationships for seven electric power generating technologies: oil-, coal-, gas-, and nuclear-fired steam-electric plants, hydroelectric plants, and gas-turbine plants. The methodology is based primarily on statistical analysis of Federal Power Commission data for plant construction and annual operating costs. The development of cost-output relationships for electric power generation is emphasized, considering the effects of scale, technology, and location on each of the generating processes investigated. The regional effects on cost are measured at the Census Region level to be consistent with the Brookhaven Multi-Regional Energy and Interindustry Regional Model of the United States. Preliminary cost relationships for system-wide costs - transmission, distribution, and general expenses - were also derived. These preliminary results cover the demand for transmission and distribution capacity and operating and maintenance costs in terms of system-service characteristics. 15 references, 6 figures, 23 tables.

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

    Directory of Open Access Journals (Sweden)

    Dignah Ashwag

    2017-01-01

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

  18. Information and Heterogeneous Beliefs: Cost of Capital, Trading Volume, and Investor Welfare

    DEFF Research Database (Denmark)

    Christensen, Peter Ove; Qin, Zhenjiang

    In an incomplete market setting with heterogeneous prior beliefs, we show that public information can have a substantial impact on the ex ante cost of capital, trading volume, and investor welfare. In a model with exponential utility investors and an asset with a normally distributed dividend...... advantage of the disagreements and the differences in con…dence among investors. This leads to a higher growth in the investors’certainty equivalents and, thus, a higher equilibrium interest rate, whereas the ex ante risk premium on the risky asset is unaffected by the informativeness of the public...

  19. The High Cost of Saving Energy Dollars.

    Science.gov (United States)

    Rose, Patricia

    1985-01-01

    In alternative financing a private company provides the capital and expertise for improving school energy efficiency. Savings are split between the school system and the company. Options for municipal leasing, cost sharing, and shared savings are explained along with financial, procedural, and legal considerations. (MLF)

  20. Disclosure, Conservatism and their Influence on Cost of Capital of the Companies Accepted by Tehran Stock Exchange (TSE

    Directory of Open Access Journals (Sweden)

    R. Zare

    2013-05-01

    Full Text Available This study attempts to examine the relevance of Disclosure, conservatism and their influence on cost of capital of the companies accepted by Tehran Stock Exchange (TSE and Compare the relative information content of them. Based on sampling, 113 firms from Tehran Stock Exchange (TSE were selected and examined during 2003 to 2009. The results support the priority of accounting figures over dividend policy. The results show there is some significant relation between the conservatism rate and cost of capital. The relation between the conservatism and cost of capital is on the basis of the Spence (1973. By virtue of the theory the companies benefit from the conservative accounting policy as a quality sign. When the conservative accounting policy is chosen it indicates a positive qualitative sign. Higher quality indicates the information risk of a company decreases probably; when the information risk of a company decreases the cost of capital decreases, too. Also the results show a significant relation between the disclosure rate and cost of capital namely when the disclosure rate of a company is higher (better the usual shares cost is lower.

  1. Metabolic costs of capital energy storage in a small-bodied ectotherm.

    Science.gov (United States)

    Griffen, Blaine D

    2017-04-01

    Reproduction is energetically financed using strategies that fall along a continuum from animals that rely on stored energy acquired prior to reproduction (i.e., capital breeders) to those that rely on energy acquired during reproduction (i.e., income breeders). Energy storage incurs a metabolic cost. However, previous studies suggest that this cost may be minimal for small-bodied ectotherms. Here I test this assumption. I use a laboratory feeding experiment with the European green crab Carcinus maenas to establish individuals with different amounts of energy storage. I then demonstrate that differences in energy storage account for 26% of the variation in basal metabolic costs. The magnitudes of these costs for any individual crab vary through time depending on the amount of energy it has stored, as well as on temperature-dependent metabolism. I use previously established relationships between temperature- and mass-dependent metabolic rates, combined with a feasible annual pattern of energy storage in the Gulf of Maine and annual sea surface temperature patterns in this region, to estimate potential annual metabolic costs expected for mature female green crabs. Results indicate that energy storage should incur an ~8% increase in metabolic costs for female crabs, relative to a hypothetical crab that did not store any energy. Translated into feeding, for a medium-sized mature female (45 mm carapace width), this requires the consumption of an additional ~156 mussels annually to support the metabolic cost of energy storage. These results indicate, contrary to previous assumptions, that the cost of energy storage for small-bodied ectotherms may represent a considerable portion of their basic operating energy budget. An inability to meet these additional costs of energy storage may help explain the recent decline of green crabs in the Gulf of Maine where reduced prey availability and increased consumer competition have combined to hamper green crab foraging success in

  2. A heat & mass integration approach to reduce capital and operating costs of a distillation configuration

    Energy Technology Data Exchange (ETDEWEB)

    Madenoor Ramapriya, Gautham [Purdue University; Jiang, Zheyu [Purdue University; Tawarmalani, Mohit [Purdue University; Agrawal, Rakesh [Purdue University

    2015-11-11

    We propose a general method to consolidate distillation columns of a distillation configuration using heat and mass integration. The proposed method encompasses all heat and mass integrations known till date, and includes many more. Each heat and mass integration eliminates a distillation column, a condenser, a reboiler and the heat duty associated with a reboiler. Thus, heat and mass integration can potentially offer significant capital and operating cost benefits. In this talk, we will study the various possible heat and mass integrations in detail, and demonstrate their benefits using case studies. This work will lay out a framework to synthesize an entire new class of useful configurations based on heat and mass integration of distillation columns.

  3. Credit Constraints and Determinants of the Cost of Capital in Vietnamese Manufacturing

    DEFF Research Database (Denmark)

    Rand, John

    2007-01-01

    This paper examines the extent to which borrowing constraints restrict firm access to credit and identifies individual, firm, and loan characteristics, which determine the cost of capital in Vietnamese manufacturing. Using direct information from a Vietnamese enterprise survey the paper shows...... to have the necessary time to go through the many administrative difficulties in the formal credit system if they want to "seize the day". Finally, collateralized loans face larger interest rates, explained by the significant influence of "policy lending" in Vietnamese credit markets...... that between 14 and 25% of the enterprises are credit constrained, and these enterprises would increase their debt holdings by between 40 and 115% if borrowing constraints were relaxed. Moreover, it emerges that informal credit markets play an important role for fast growing firms. Enterprises do not appear...

  4. GAME THEORY: MINIMISING THE COST OF CAPITAL VS. MAXIMISING THE RETURN OF INVESTORS

    Directory of Open Access Journals (Sweden)

    Mihaela Brindusa Tudose

    2014-12-01

    Full Text Available The application of game theory to financial transactions focuses on two categories of stakeholders: users of financing (firms and providers of financing (investors. The core of game theory consists in the strategy that a partner is able to build starting from the possible decisions of the other partner (each party having opposing interests. In fact, we deal here with a cooperative game in which both opponents seek to maximise their own chances of winning. The article aims to highlight the manner in which mathematical game theory is transposed in the field of corporate finance by balancing the firm’s objectives (maximising market value by minimising the cost of raising capital and the investors’ objectives (maximising returns on investments. The intended novelty of this paper lies in developing a model for optimising a firm’s financial structure and assessing it in terms of investors’ interests.

  5. Productivity Losses Associated with Head and Neck Cancer Using the Human Capital and Friction Cost Approaches.

    Science.gov (United States)

    Pearce, Alison M; Hanly, Paul; Timmons, Aileen; Walsh, Paul M; O'Neill, Ciaran; O'Sullivan, Eleanor; Gooberman-Hill, Rachael; Thomas, Audrey Alforque; Gallagher, Pamela; Sharp, Linda

    2015-08-01

    Previous studies suggest that productivity losses associated with head and neck cancer (HNC) are higher than in other cancers. These studies have only assessed a single aspect of productivity loss, such as temporary absenteeism or premature mortality, and have only used the Human Capital Approach (HCA). The Friction Cost Approach (FCA) is increasingly recommended, although has not previously been used to assess lost production from HNC. The aim of this study was to estimate the lost productivity associated with HNC due to different types of absenteeism and premature mortality, using both the HCA and FCA. Survey data on employment status were collected from 251 HNC survivors in Ireland and combined with population-level survival estimates and national wage data. The cost of temporary and permanent time off work, reduced working hours and premature mortality using both the HCA and FCA were calculated. Estimated total productivity losses per employed person of working age were EUR253,800 using HCA and EUR6800 using FCA. The main driver of HCA costs was premature mortality (38% of total) while for FCA it was temporary time off (73% of total). The productivity losses associated with head and neck cancer are substantial, and return to work assistance could form an important part of rehabilitation. Use of both the HCA and FCA approaches allowed different drivers of productivity losses to be identified, due to the different assumptions of the two methods. For future estimates of productivity losses, the use of both approaches may be pragmatic.

  6. Low Cost Lithography Tool for High Brightness LED Manufacturing

    Energy Technology Data Exchange (ETDEWEB)

    Andrew Hawryluk; Emily True

    2012-06-30

    The objective of this activity was to address the need for improved manufacturing tools for LEDs. Improvements include lower cost (both capital equipment cost reductions and cost-ofownership reductions), better automation and better yields. To meet the DOE objective of $1- 2/kilolumen, it will be necessary to develop these highly automated manufacturing tools. Lithography is used extensively in the fabrication of high-brightness LEDs, but the tools used to date are not scalable to high-volume manufacturing. This activity addressed the LED lithography process. During R&D and low volume manufacturing, most LED companies use contact-printers. However, several industries have shown that these printers are incompatible with high volume manufacturing and the LED industry needs to evolve to projection steppers. The need for projection lithography tools for LED manufacturing is identified in the Solid State Lighting Manufacturing Roadmap Draft, June 2009. The Roadmap states that Projection tools are needed by 2011. This work will modify a stepper, originally designed for semiconductor manufacturing, for use in LED manufacturing. This work addresses improvements to yield, material handling, automation and throughput for LED manufacturing while reducing the capital equipment cost.

  7. Cost of soybean crop yield transgenic in Goias ( crop 2015/2016 equity x third capital

    Directory of Open Access Journals (Sweden)

    Sidney Jordan Silva

    2016-06-01

    Full Text Available Considering the data from the Ministry of Agriculture, in 2014 the Gross Domestic Product - Brazilian agricultural GDP accounted for about 23% of the total GDP of the Brazilian economy, in reais equivalent to R $ 1.1 trillion. And within it agriculture is represented in 70% of the production of agribusiness. Seen it, one sees Brazil's potential in this activity. Therefore, it is evident that this Montate production needs to be managed throughout the production cycle. This includes as a first step planting, a fact that needs initial investment to allow the harvest to the end of the process. Because of this it was thought what are the ways to start agricultural production. This work specifically measured the transgenic soybean crop in the state of Goiás. The source of the resource that defrayed the cost of production was studied. It found that can be made via bank through a rural financing or financing with own resources, considering that the farmer has this option when you start your planting. If the producer utilizasse own resources he would not receive the full amount calculated the profitability of Agribusiness Credit Bills - LCA. By financing the farmer will pay only the interest calculated if using all capital financed the formalization of the contract. And taking into account that the cost of financing ranges from planting to harvest, if the releases are gradually made the producer may also reduce the interest to be paid.

  8. CNSS plant concept, capital cost, and multi-unit station economics

    Energy Technology Data Exchange (ETDEWEB)

    1984-07-01

    United Engineers and Constructors (UE and C) and the Babcock and Wilcox Company (B and W) have performed several studies over the last eight years related to small integral pressurized water reactors. These reactors include the 365 MWt (100 MWe) Consolidated Nuclear Steam Generator (CNSG) and the 1200 MWt Consolidated Nuclear Steam System (CNSS). The studies, mostly performed under contract to the Oak Ridge National Laboratory, have led to a 1250 MWt (400 MWe) Consolidated Nuclear Steam System (CNSS) plant concept, with unique design and cost features. This report contains an update of earlier studies of the CNSS reactor and balance-of-plant concept design, capital costs, and multi-unit plant economics incorporating recent design developments, improvements, and post-TMI-2 upgrades. The economic evaluation compares the total system economic impact of a phased, three stage 400 MWe CNSS implementation program, i.e., a three-unit station, to the installation of a single 1200 MWe Pressurized Water Reactor (PWR) into a typical USA utility system.

  9. Sustentabilidade empresarial e o impacto no custo de capital próprio das empresas de capital aberto Sustainable development and consequences for equity costs in public companies

    Directory of Open Access Journals (Sweden)

    Lílian Simone Aguiar da Silva

    2006-12-01

    Full Text Available Este trabalho apresenta o impacto no custo de capital próprio para as empresas brasileiras de capital aberto face à adoção dos princípios de sustentabilidade. O conceito de desenvolvimento sustentável tem se aprimorado num processo contínuo de reavaliação da relação existente entre: crescimento econômico, a sociedade civil e o meio ambiente. O triple-bottom-line das dimensões econômica, ambiental e social da sustentabilidade tem emergido como um modelo de interpretação pelas empresas, embora cada uma dessas dimensões represente um grande desafio. O segmento corporativo vem atendendo às demandas cada vez maiores da sociedade frente a essas questões, ficando a dúvida quanto à legitimidade dessas ações e o questionamento relativo ao papel das empresas na economia e na sociedade. Para avaliar o impacto no custo de capital próprio, foi implementado um modelo de decomposição do beta em medidas contábeis de risco, incluindo uma variável referente à sustentabilidade. O resultado confirma a expectativa de que ao aderir aos padrões de sustentabilidade a empresa reduz o risco corporativo medido pelo risco sistemático, determinando a redução do custo de capital e aumento do valor econômico.This article provides an analysis of equity costs in Brazilian public companies regarding the adoption of sustainability principles. The concept of sustainable development has evolved considering the relation among economic growth, the society and the environment. The triple-bottom-line of economic, environmental, and social dimensions has emerged as an interpretation model by companies, although each of these dimensions may present a challenge. The corporate sector has faced an increasing demand from society regarding these sustainability concepts, though the actions and the role to be played by companies within this context are still being questioned. Equity costs were analyzed by a multivariate regression of beta on accounting measures

  10. Financial development and the cost of equity capital:Evidence from China

    Institute of Scientific and Technical Information of China (English)

    Jeong-Bon; Kim; Mary; L.Z.Ma; Haiping; Wang

    2015-01-01

    This study examines the relation between province-level financial development and the cost of equity in China.Our main findings are that(1)stock market development reduces the cost of equity in general,but the effect diminishes significantly in state-owned enterprises(SOEs)and firms with high growth potential or innovation intensity and(2)banking development only marginally lowers the cost of equity,but the effect is stronger in non-SOEs.Further analysis reveals that stock market development substitutes for such institutional factors as accounting quality,law enforcement,stock market integration and the split-share structure reform in lowering the cost of equity.We also find that lack of banking competition and banking marketization and under-development of the non-state economy partially account for the weak effect of banking development on the cost of equity.

  11. The financial cost of doctors emigrating from sub-Saharan Africa: human capital analysis.

    Science.gov (United States)

    Mills, Edward J; Kanters, Steve; Hagopian, Amy; Bansback, Nick; Nachega, Jean; Alberton, Mark; Au-Yeung, Christopher G; Mtambo, Andy; Bourgeault, Ivy L; Luboga, Samuel; Hogg, Robert S; Ford, Nathan

    2011-11-23

    To estimate the lost investment of domestically educated doctors migrating from sub-Saharan African countries to Australia, Canada, the United Kingdom, and the United States. Human capital cost analysis using publicly accessible data. Sub-Saharan African countries. Nine sub-Saharan African countries with an HIV prevalence of 5% or greater or with more than one million people with HIV/AIDS and with at least one medical school (Ethiopia, Kenya, Malawi, Nigeria, South Africa, Tanzania, Uganda, Zambia, and Zimbabwe), and data available on the number of doctors practising in destination countries. The financial cost of educating a doctor (through primary, secondary, and medical school), assuming that migration occurred after graduation, using current country specific interest rates for savings converted to US dollars; cost according to the number of source country doctors currently working in the destination countries; and savings to destination countries of receiving trained doctors. In the nine source countries the estimated government subsidised cost of a doctor's education ranged from $21,000 (£13,000; €15,000) in Uganda to $58,700 in South Africa. The overall estimated loss of returns from investment for all doctors currently working in the destination countries was $2.17bn (95% confidence interval 2.13bn to 2.21bn), with costs for each country ranging from $2.16m (1.55m to 2.78m) for Malawi to $1.41bn (1.38bn to 1.44bn) for South Africa. The ratio of the estimated compounded lost investment over gross domestic product showed that Zimbabwe and South Africa had the largest losses. The benefit to destination countries of recruiting trained doctors was largest for the United Kingdom ($2.7bn) and United States ($846m). Among sub-Saharan African countries most affected by HIV/AIDS, lost investment from the emigration of doctors is considerable. Destination countries should consider investing in measurable training for source countries and strengthening of their

  12. The Costs of Policing: Psychosocial Capital and Mental Health Outcomes in a Nigeria Police Sample.

    Science.gov (United States)

    Ojedokun, Oluyinka; Balogun, Shyngle K

    2015-10-14

    This study examined the influence of psychosocial capital (psychological and workplace social capital) on mental health outcomes among 340 police personnel in Nigeria. Data were collected via anonymously completed questionnaires. The hypotheses were tested using structural equation modeling, and the results revealed that in the context of stress and traumatic stress, resilience p police organization pay attention to how psychological capital influence the development of psychopathology or resilience and how such issues can be addressed through psychological training in the workplace.

  13. Perceptions of social capital and cost-related non-adherence to medication among the elderly.

    Science.gov (United States)

    Luz, Tatiana Chama Borges; Loyola Filho, Antônio Ignácio de; Lima-Costa, Maria Fernanda

    2011-02-01

    The aim of this study was to examine the association between social capital and cost-related non-adherence (CRN) in an elderly population, using data from 1,134 respondents to the Greater Metropolitan Belo Horizonte Health Survey. CRN was lower for those elderly with a better perception of attachment to their neighbourhoods (PR = 0.68; 95%CI: 0.50-0.94), with more social contacts (one to five, PR = 0.49; 95%CI: 0.30-0.80 and more than five, PR = 0.42; 95%CI: 0.26-0.67), and with private health insurance coverage (PR = 0.64; 95%CI: 0.45-0.93). Meanwhile, CRN was significantly higher for those with fair to poor self-rated health (PR =1.66; 95%CI: 0.95-2.90 and PR = 2.62; 95%CI: 1.46-4.71 respectively), with multiple comorbidities (two, PR = 3.45; 95%CI: 1.38-8.62 and three or more, PR = 4.42; 95%CI: 1.74-11.25), and with a lower frequency of physician-patient dialogue about health/treatment (rarely/never, PR = 1.91; 95%CI: 1.16-3.13). These findings highlight the need to take into account the social context in future research on CRN.

  14. A zinc–iron redox-flow battery under $100 per kW h of system capital cost

    OpenAIRE

    Gong, Ke; Ma, Xiaoya; Kuttler, Kevin J.; Grunewald, Jonathan B.; Yeager, Kelsey L.; Bazant, Martin Z.; Gu, Shuang; Yan, Yushan; Conforti, Kameron Michael

    2015-01-01

    Redox flow batteries (RFBs) are one of the most promising scalable electricity-storage systems to address the intermittency issues of renewable energy sources such as wind and solar. The prerequisite for RFBs to be economically viable and widely employed is their low cost. Here we present a new zinc–iron (Zn–Fe) RFB based on double-membrane triple-electrolyte design that is estimated to have under $100 per kW h system capital cost. Such a low cost is achieved by a combination of inexpensive r...

  15. Wind energy in Brazil. Systemic risks and the cost of the own capital in the context of the cleaning development mechanism; Energia eolica no Brasil. Riscos sistemicos e o custo do capital proprio no contexto do mecanismo de desenvolvimento limpo

    Energy Technology Data Exchange (ETDEWEB)

    Lisboa, Cristines [IBMEC, Rio de Janeiro, RJ (Brazil)], E-mail: cristines.lisboa@gmail.com; Hauser, Philip, E-mail: philipphauser@web.de; Medeiros, Anamelia, E-mail: anameliam@yahoo.com.br

    2010-07-01

    This paper analyses the capital cost of technology based on the CDM rules and the financial practice established and applied by the ANEEL, viewing the establishment of a reference rate for the discussion of financial additional of the projects.

  16. Uncertainties in early-stage capital cost estimation of process design – a case study on biorefinery design

    DEFF Research Database (Denmark)

    Cheali, Peam; Gernaey, Krist; Sin, Gürkan

    2015-01-01

    is highlighted using the synthesis and design of a biorefinery as a case study. The impact of uncertainties in cost estimation on the identification of optimal processing paths is indeed found to be profound. To tackle this challenge, a comprehensive techno-economic risk analysis framework is presented to enable......Capital investment, next to the product demand, sales, and production costs, is one of the key metrics commonly used for project evaluation and feasibility assessment. Estimating the investment costs of a new product/process alternative during early-stage design is a challenging task, which......) the Monte Carlo technique as an error propagation method based on expert input when cost data are not available. Four well-known models for early-stage cost estimation are reviewed and analyzed using the methodology. The significance of uncertainties of cost data for early-stage process design...

  17. Cost-effectiveness analysis in markets with high fixed costs.

    Science.gov (United States)

    Cutler, David M; Ericson, Keith M Marzilli

    2010-01-01

    We consider how to conduct cost-effectiveness analysis when the social cost of a resource differs from the posted price. From the social perspective, the true cost of a medical intervention is the marginal cost of delivering another unit of a treatment, plus the social cost (deadweight loss) of raising the revenue to fund the treatment. We focus on pharmaceutical prices, which have high markups over marginal cost due to the monopoly power granted to pharmaceutical companies when drugs are under patent. We find that the social cost of a branded drug is approximately one-half the market price when the treatment is paid for by a public insurance plan and one-third the market price for mandated coverage by private insurance. We illustrate the importance of correctly accounting for social costs using two examples: coverage for statin drugs and approval for a drug to treat kidney cancer (sorafenib). In each case, we show that the correct social perspective for cost-effectiveness analysis would be more lenient than researcher recommendations.

  18. Comparative Analysis of Capital Productivity in China's High-Tech Industries

    Institute of Scientific and Technical Information of China (English)

    LingWang; AdamSzirmai

    2005-01-01

    While labor productivity is a topic of constant debate and has been studied extensively, far less attention has been devoted to the question of capital productivity. Productive use of physical capital is an important source of economic growth and investment return. This paper presents a comparative study of capital productivity in China's high-tech industry. Using a version of the perpetual inventory method (PIM), new estimates have been made of the physical capital stock by sector. Capital productivity in China's high-tech industry is higher than in total manufacturing, but the gap between them has been shrinking. Comparison with high-tech industries in the US., highlights that China's high-tech industries could play a more important role in the growth of manufacturing and the whole economy.

  19. Capital and Operating Costs of Full-Scale Fecal Sludge Management and Wastewater Treatment Systems in Dakar, Senegal

    Science.gov (United States)

    2012-01-01

    A financial comparison of a parallel sewer based (SB) system with activated sludge, and a fecal sludge management (FSM) system with onsite septic tanks, collection and transport (C&T) trucks, and drying beds was conducted. The annualized capital for the SB ($42.66 capita–1 year–1) was ten times higher than the FSM ($4.05 capita–1 year–1), the annual operating cost for the SB ($11.98 capita–1 year–1) was 1.5 times higher than the FSM ($7.58 capita–1 year–1), and the combined capital and operating for the SB ($54.64 capita–1 year–1) was five times higher than FSM ($11.63 capita–1 year–1). In Dakar, costs for SB are almost entirely borne by the sanitation utility, with only 6% of the annualized cost borne by users of the system. In addition to costing less overall, FSM operates with a different business model, with costs spread among households, private companies, and the utility. Hence, SB was 40 times more expensive to implement for the utility than FSM. However, the majority of FSM costs are borne at the household level and are inequitable. The results of the study illustrate that in low-income countries, vast improvements in sanitation can be affordable when employing FSM, whereas SB systems are prohibitively expensive. PMID:22413875

  20. Capital and operating costs of full-scale fecal sludge management and wastewater treatment systems in Dakar, Senegal.

    Science.gov (United States)

    Dodane, Pierre-Henri; Mbéguéré, Mbaye; Sow, Ousmane; Strande, Linda

    2012-04-03

    A financial comparison of a parallel sewer based (SB) system with activated sludge, and a fecal sludge management (FSM) system with onsite septic tanks, collection and transport (C&T) trucks, and drying beds was conducted. The annualized capital for the SB ($42.66 capita(-1) year(-1)) was ten times higher than the FSM ($4.05 capita(-1) year(-1)), the annual operating cost for the SB ($11.98 capita(-1) year(-1)) was 1.5 times higher than the FSM ($7.58 capita(-1) year(-1)), and the combined capital and operating for the SB ($54.64 capita(-1) year(-1)) was five times higher than FSM ($11.63 capita(-1) year(-1)). In Dakar, costs for SB are almost entirely borne by the sanitation utility, with only 6% of the annualized cost borne by users of the system. In addition to costing less overall, FSM operates with a different business model, with costs spread among households, private companies, and the utility. Hence, SB was 40 times more expensive to implement for the utility than FSM. However, the majority of FSM costs are borne at the household level and are inequitable. The results of the study illustrate that in low-income countries, vast improvements in sanitation can be affordable when employing FSM, whereas SB systems are prohibitively expensive.

  1. High-growth versus declining firms : The differential impact of human capital and R&D

    NARCIS (Netherlands)

    Goedhuys - Degelin, Micheline; Sleuwaegen, L.

    2016-01-01

    We provide evidence that both human capital and R&D increase the likelihood that a firm will be a high-growth firm in the industry. However, different from human capital, being an R&D active firm also increases the probability of substantial decline or failure, underscoring the risky nature of innov

  2. Cultivating Capital: Latino Newcomer Young Men in a U.S. Urban High School

    Science.gov (United States)

    Hopkins, Megan; Martinez-Wenzl, Mary; Aldana, Ursula S.; Gándara, Patricia

    2013-01-01

    Newcomer young men confront numerous obstacles that limit their chances for attainment and achievement. Using social and cultural capital frameworks and a case study methodology, this article examines how four Latino newcomer young men navigated an urban U.S. high school. It reveals how teachers and a counselor cultivated capital and how the young…

  3. Optimal Dividend and Dynamic Reinsurance Strategies with Capital Injections and Proportional Costs

    Institute of Scientific and Technical Information of China (English)

    Yi-dong WU; Jun-yi GUO

    2012-01-01

    We consider an optimization problem of an insurance company in the diffusion setting,which controls the dividends payout as well as the capital injections.To maximize the cumulative expected discounted dividends minus the penalized discounted capital injections until the ruin time,there is a possibility of (cheap or non-cheap) proportional reinsurance.We solve the control problems by constructing two categories of suboptimal models,one without capital injections and one with no bankruptcy by capital injection.Then we derive the explicit solutions for the value function and totally characterize the optimal strategies.Particularly,for cheap reinsurance,they are the same as those in the model of no bankruptcy.

  4. Privatization and the Corporate Cost of Capital in New Zealand: An Application of Fama and French (1999)

    OpenAIRE

    2005-01-01

    Fama and French’s (1999) internal rate of return method is applied to Datastream data from 1993-2001 for 81 non-financial firms listed on the New Zealand Stock Exchange. The nominal return on value is 7.09%. The real return on value is 5.07%. The nominal return on cost is 11.59%. The real return on cost is 9.48%. The 10 former state-owned enterprises have nominal and real returns significantly higher than the 71other publicly-listed companies and their capital structures and market-to-book ...

  5. The Feasibility and Current Estimated Capital Costs of Producing Jet Fuel at Sea Using Carbon Dioxide and Hydrogen

    Science.gov (United States)

    2010-09-29

    1,250,000,000 In addition to the electrolysis units, commercial reactors and carbon capture materials must also be accounted for in the overall cost of a jet...Power The U.S. Navy’s Nimitz class aircraft carriers are powered by two nuclear fission pressurized water reactors (PWRs) capable of producing a...total minimum of 275 MW of power [16]. The estimated capital cost of these light water reactors (L WR) is 1,200 dollars per kilowatt of electricity

  6. Uncertainties in Early Stage Capital Cost Estimation of Process Design – A case study on biorefinery design

    Directory of Open Access Journals (Sweden)

    Gurkan eSin

    2015-02-01

    Full Text Available Capital investment, next to the product demand, sales and production costs, is one of the key metrics commonly used for project evaluation and feasibility assessment. Estimating the investment costs of a new product/process alternative during early stage design is a challenging task. This is especially important in biorefinery research, where available information and experiences with new technologies is limited. A systematic methodology for uncertainty analysis of cost data is proposed that employs (a Bootstrapping as a regression method when cost data is available and (b the Monte Carlo technique as an error propagation method based on expert input when cost data is not available. Four well-known models for early stage cost estimation are reviewed an analyzed using the methodology. The significance of uncertainties of cost data for early stage process design is highlighted using the synthesis and design of a biorefinery as a case study. The impact of uncertainties in cost estimation on the identification of optimal processing paths is found to be profound. To tackle this challenge, a comprehensive techno-economic risk analysis framework is presented to enable robust decision making under uncertainties. One of the results using an order-of-magnitude estimate shows that the production of diethyl ether and 1,3-butadiene are the most promising with economic risks of 0.24 MM$/a and 4.6 MM$/a due to uncertainties in cost estimations, respectively.

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

    Directory of Open Access Journals (Sweden)

    Márcio André Veras Machado

    2006-06-01

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

  8. Supercritical Carbon Dioxide Power Generation System Definition: Concept Definition and Capital Cost Estimate

    Energy Technology Data Exchange (ETDEWEB)

    Stoddard, Larry [Black & Veatch, Kansas City, MO (United States); Galluzzo, Geoff [Black & Veatch, Kansas City, MO (United States); Andrew, Daniel [Black & Veatch, Kansas City, MO (United States); Adams, Shannon [Black & Veatch, Kansas City, MO (United States)

    2016-06-30

    The Department of Energy’s (DOE’s) Office of Renewable Power (ORP) has been tasked to provide effective program management and strategic direction for all of the DOE’s Energy Efficiency & Renewable Energy’s (EERE’s) renewable power programs. The ORP’s efforts to accomplish this mission are aligned with national energy policies, DOE strategic planning, EERE’s strategic planning, Congressional appropriation, and stakeholder advice. ORP is supported by three renewable energy offices, of which one is the Solar Energy Technology Office (SETO) whose SunShot Initiative has a mission to accelerate research, development and large scale deployment of solar technologies in the United States. SETO has a goal of reducing the cost of Concentrating Solar Power (CSP) by 75 percent of 2010 costs by 2020 to reach parity with base-load energy rates, and 30 percent further reductions by 2030. The SunShot Initiative is promoting the implementation of high temperature CSP with thermal energy storage allowing generation during high demand hours. The SunShot Initiative has funded significant research and development work on component testing, with attention to high temperature molten salts, heliostats, receiver designs, and high efficiency high temperature supercritical CO2 (sCO2) cycles. DOE retained Black & Veatch to support SETO’s SunShot Initiative for CSP solar power tower technology in the following areas: 1. Concept definition, including costs and schedule, of a flexible test facility to be used to test and prove components in part to support financing. 2. Concept definition, including costs and schedule, of an integrated high temperature molten salt (MS) facility with thermal energy storage and with a supercritical CO2 cycle generating approximately 10MWe. 3. Concept definition, including costs and schedule, of an integrated high temperature falling particle facility with thermal energy storage and with a supercritical CO2 cycle

  9. DO FINANCIAL STATEMENTS PROVIDE ADEQUATE INFORMATION ABOUT THE CAPITALIZATION OF COSTS RELATED TO INTANGIBLE ASSETS?: AN EMPIRICAL RESEARCH ON ITALIAN LISTED COMPANIES

    OpenAIRE

    Vignini, Stefania

    2015-01-01

    The aim of our research is to verify if Italian listed companies financial statements provide adequate information about the capitalization of costs related to intangible assets and if the information provided are reliable. Moreover, we investigated if they merely comply with law or provide additional information on cost capitalization and reveal if internal control systems (especially managerial accounting systems) or other information systems are applied to support the measurement proces...

  10. Investigation of Iterative Algorithms for Evaluation of Capital Structure and Cost

    Directory of Open Access Journals (Sweden)

    Vigen Minasyan

    2014-01-01

    Full Text Available Determination of structure and correct calculation of a company’s capital value is an essential; theoretical and practical problem for corporate finance. The proportion between the company’s equity and borrowed capital determines the risk and profitability of the company and, consequently, the welfare of its owners. The most common recommendation is to evaluate the stricture of capital based on market proportions between indebtedness and equity. However, market proportions most often deviate from values obtained through analytical calculations. This means that weak efficiency of the market brings about inconsistency between the input data and the results, which are calculated from them. Second, not all companies have a representative market quotation. There is a question, then: how can we correctly evaluate capital and its market structure for individual projects and companies in general? The work presented below is dedicated to the iterative method for evaluation of fair structure of capital as suggested in (Limitovsky M.A., Minasyan V.B. 2010, and to the proving of consistency of this method for a very large number of companies.

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

    Directory of Open Access Journals (Sweden)

    Ignacio Vélez-Pareja

    2009-12-01

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

  12. Novel Low Cost, High Reliability Wind Turbine Drivetrain

    Energy Technology Data Exchange (ETDEWEB)

    Chobot, Anthony; Das, Debarshi; Mayer, Tyler; Markey, Zach; Martinson, Tim; Reeve, Hayden; Attridge, Paul; El-Wardany, Tahany

    2012-09-13

    Clipper Windpower, in collaboration with United Technologies Research Center, the National Renewable Energy Laboratory, and Hamilton Sundstrand Corporation, developed a low-cost, deflection-compliant, reliable, and serviceable chain drive speed increaser. This chain and sprocket drivetrain design offers significant breakthroughs in the areas of cost and serviceability and addresses the key challenges of current geared and direct-drive systems. The use of gearboxes has proven to be challenging; the large torques and bending loads associated with use in large multi-MW wind applications have generally limited demonstrated lifetime to 8-10 years [1]. The large cost of gearbox replacement and the required use of large, expensive cranes can result in gearbox replacement costs on the order of $1M, representing a significant impact to overall cost of energy (COE). Direct-drive machines eliminate the gearbox, thereby targeting increased reliability and reduced life-cycle cost. However, the slow rotational speeds require very large and costly generators, which also typically have an undesirable dependence on expensive rare-earth magnet materials and large structural penalties for precise air gap control. The cost of rare-earth materials has increased 20X in the last 8 years representing a key risk to ever realizing the promised cost of energy reductions from direct-drive generators. A common challenge to both geared and direct drive architectures is a limited ability to manage input shaft deflections. The proposed Clipper drivetrain is deflection-compliant, insulating later drivetrain stages and generators from off-axis loads. The system is modular, allowing for all key parts to be removed and replaced without the use of a high capacity crane. Finally, the technology modularity allows for scalability and many possible drivetrain topologies. These benefits enable reductions in drivetrain capital cost by 10.0%, levelized replacement and O&M costs by 26.7%, and overall cost of

  13. Social Capital Role in Managing High Risk Behavior: a Narrative Review

    Science.gov (United States)

    Afzali, Mansoure; Shahhosseini, Zohreh; Hamzeghardeshi, Zeinab

    2015-01-01

    Background: Social capital as a social context based concept is a new component in addition to the previous factors including the biologic–environmental, the genetic and the individual behavior factors that influence health and society. Social capital refers to the information that makes people believe being interesting & being paid attention to, & respected, valued, and belonging to a network of bilateral relations. Health issue is greatly affected by the existence of social capital. High risk behaviors refer to the ones enhancing the probability of negative and devastating physical, psychological and social consequences for an individual. Negative & overwhelming results mean keeping one’s distance from social norms as a result rejection and labeling (social stigma) and finally, to distance oneself from the benefits of social life in the individuals with high risk behaviors. The present study reviews social capital in the groups having high risk behaviors. Methods: The present study is a narrative review in which researchers conducted their computer search in public databases like Google Scholar, and more specifically in Pubmed, Magiran, SID, Springer, Science Direct, and ProQuest using the keywords: social capital, social support, risk behaviors, addicts, HIV, AIDS, and selected the articles related to the study subject from 2004 to 2014. Overall 96 articles have been searched. Researchers reviewed the summary of all articles searched, & ultimately, they applied the data from 20 full articles to compile this review paper. Results: Article review results led to organizing the subjects into 6 general categories: Social capital and its role in health; Social capital in groups with high risk behaviors (Including: substance abusers, AIDS patients, the homeless and multi-partner women); Social capital in different social groups; measurement tools for social capital and risk behaviors; the role of health in helping people with risky behaviors with the focus on

  14. Designing HIGH-COST medicine: hospital surveys, health planning, and the paradox of progressive reform.

    Science.gov (United States)

    Perkins, Barbara Bridgman

    2010-02-01

    Inspired by social medicine, some progressive US health reforms have paradoxically reinforced a business model of high-cost medical delivery that does not match social needs. In analyzing the financial status of their areas' hospitals, for example, city-wide hospital surveys of the 1910s through 1930s sought to direct capital investments and, in so doing, control competition and markets. The 2 national health planning programs that ran from the mid-1960s to the mid-1980s continued similar strategies of economic organization and management, as did the so-called market reforms that followed. Consequently, these reforms promoted large, extremely specialized, capital-intensive institutions and systems at the expense of less complex (and less costly) primary and chronic care. The current capital crisis may expose the lack of sustainability of such a model and open up new ideas and new ways to build health care designed to meet people's health needs.

  15. THE RELATIONSHIP BETWEEN THE COST OF EDUCATION AND THE HUMAN CAPITAL. THE ALIGNEMENT OF ROMANIA TO THE EUROPEAN STANDARDS

    Directory of Open Access Journals (Sweden)

    IOANA-JULIETA JOSAN

    2012-05-01

    Full Text Available Once with the development of the human capital theory, the education received an economic value, which is a quality variable of human resources and the main determinant of economic growth. The famed economists have shown that the remarkable economic effects of the investments in education influence the chances of acquiring a job and earnings, demonstrating how the theory justifies such an investment. Human capital approach allows also estimating the costs of education in schools and higher education, as well as the profits that comes out of it. Thus, the human capital theory is primarily focused on the demand for education. Moreover, the objective function of the state, in terms of education, contains itself two contradictory arguments: the state, theoretically, is a representative and guarantor of the collective good and its organizer; the state will seek to maximize individual education on the one hand and on the other hand will search for the optimization of the relationship between professional training and formal education. Also, in the context of recent years, the budgetary constraints are raising the problem of optimal allocation of the resources, as well as the funding of the performance of the educational services. The particularities, in terms of flexibility and cumulative distribution of the investment levels in the human factors, are translated into a practical action in the sense that global competition, from which Romania cannot decouple. In the long run, there are winning and resisting only those with academic flexible formation and the intelligent persons. Considering the above arguments, the purpose of this paper is to analyze the main characteristics of funding mechanisms for education systems, the volume of spending on education and ways of managing the resources allocated to the education. The cost allocation for education in Romania is investigated in terms of government policies, but also in terms of human capital theory

  16. THE RELATIONSHIP BETWEEN THE COST OF EDUCATION AND THE HUMAN CAPITAL. THE ALIGNEMENT OF ROMANIA TO THE EUROPEAN STANDARDS

    Directory of Open Access Journals (Sweden)

    Ioana-Julieta JOSAN

    2012-11-01

    Full Text Available Once with the development of the human capital theory, the education received an economic value, which is a quality variable of human resources and the main determinant of economic growth.The famed economists have shown that the remarkable economic effects of the investments in education influence the chances of acquiring a job and earnings, demonstrating how the theory justifies such an investment. Human capital approach allows also estimating the costs of education in schools and higher education, as well as the profits that comes out of it. Thus, the human capital theory is primarily focused on the demand for education. Moreover, the objective function of the state, in terms of education, contains itself two contradictory arguments: the state, theoretically, is a representative and guarantor of the collective good and its organizer; the state will seek to maximize individual education on the one hand and on the other hand will search for the optimization of the relationship between professional training and formal education. Also, in the context of recent years, the budgetary constraints are raising the problem of optimal allocation of the resources, as well as the funding of the performance of the educational services. The particularities, in terms of flexibility and cumulative distribution of the investment levels in the human factors, are translated into a practical action in the sense that global competition, from which Romania cannot decouple. In the long run, there are winning and resisting only those with academic flexible formation and the intelligent persons. Considering the above arguments, the purpose of this paper is to analyze the main characteristics of funding mechanisms for education systems, the volume of spending on education and ways of managing the resources allocated to the education. The cost allocation for education in Romania is investigated in terms of government policies, but also in terms of human capital theory

  17. Geography and the costs of urban energy infrastructure: The case of electricity and natural gas capital investments

    Science.gov (United States)

    Senyel, Muzeyyen Anil

    Investments in the urban energy infrastructure for distributing electricity and natural gas are analyzed using (1) property data measuring distribution plant value at the local/tax district level, and (2) system outputs such as sectoral numbers of customers and energy sales, input prices, company-specific characteristics such as average wages and load factor. Socio-economic and site-specific urban and geographic variables, however, often been neglected in past studies. The purpose of this research is to incorporate these site-specific characteristics of electricity and natural gas distribution into investment cost model estimations. These local characteristics include (1) socio-economic variables, such as income and wealth; (2) urban-related variables, such as density, land-use, street pattern, housing pattern; (3) geographic and environmental variables, such as soil, topography, and weather, and (4) company-specific characteristics such as average wages, and load factor. The classical output variables include residential and commercial-industrial customers and sales. In contrast to most previous research, only capital investments at the local level are considered. In addition to aggregate cost modeling, the analysis focuses on the investment costs for the system components: overhead conductors, underground conductors, conduits, poles, transformers, services, street lighting, and station equipment for electricity distribution; and mains, services, regular and industrial measurement and regulation stations for natural gas distribution. The Box-Cox, log-log and additive models are compared to determine the best fitting cost functions. The Box-Cox form turns out to be superior to the other forms at the aggregate level and for network components. However, a linear additive form provides a better fit for end-user related components. The results show that, in addition to output variables and company-specific variables, various site-specific variables are statistically

  18. Cultural and Social Capital and Talent Development: A Study of a High-Ability Aboriginal Student in a Remote Community

    Science.gov (United States)

    Kostenko, Karen; Merrotsy, Peter

    2009-01-01

    During the course of a school year, a study was conducted on the cultural context, the social milieu and the personal characteristics of a high ability Aboriginal student in a remote community in Canada. Using the lenses of cultural capital, social capital and human capital, the study explores the development of the student's talent through his…

  19. Increasing Returns to Education and the Impact on Social Capital

    Science.gov (United States)

    Leeves, Gareth D.

    2014-01-01

    The returns to education have been increasing. It is suggested that high-skilled workers' social capital investment has been adversely affected by the increasing incentives to devote human capital to career development. Lower social capital is linked to reduced economic growth and innovation and higher transaction costs and is detrimental to…

  20. Increasing Returns to Education and the Impact on Social Capital

    Science.gov (United States)

    Leeves, Gareth D.

    2014-01-01

    The returns to education have been increasing. It is suggested that high-skilled workers' social capital investment has been adversely affected by the increasing incentives to devote human capital to career development. Lower social capital is linked to reduced economic growth and innovation and higher transaction costs and is detrimental to…

  1. COST OF CAPITAL VALUATION BEST PRACTICES IN BRAZILIAN PUBLIC STOCK OFFER

    OpenAIRE

    EDUARDO MONEGALHA RODRIGUES

    2009-01-01

    No período de 2004 a 2008, foram registradas, no Brasil, 199 ofertas públicas de ações, sendo 111 ofertas iniciais de ações, basicamente abertura de capital registrada na Bolsa de Valores de São Paulo; e 88 ofertas públicas de ações registradas na Comissão de Valores Mobiliários, com finalidades diversas. Utilizando uma amostra de 50 ofertas públicas, observamos as principais práticas de avaliação de empresas adotadas pelos principais agentes financeiros que atuam no país. C...

  2. Constant Leverage And Constant Cost Of Capital: A Common Knowledge Half-Truth

    Directory of Open Access Journals (Sweden)

    Ignacio Vélez–Pareja

    2008-04-01

    In this document we show that for finite cash flows, Ke and hence WACC depend on the discount rate that is used to value the tax shield, TS and as expected, Ke and WACC are not constant with Kd as the discount rate for the tax shield, even if the leverage is constant. We illustrate this situation with a simple example. We analyze five methods: DCF using APV, FCF and traditional and general formulation for WACC, present value of CFE plus debt and Capital Cash Flow, CCF.

  3. 公司现金流与资本成本研究%On Corporate, Cash Flow and Capital Cost

    Institute of Scientific and Technical Information of China (English)

    马克林

    2015-01-01

    The investment formed capital over a period of time gives the company a sustainable cash flow , and cash flow to a discount rate that is used to meet the total risk of the company is the market value of the company . Meanwhile , the cash flow generated by the company ’ s assets can basically be divided into pay interest , taxes and shareholders income , and the three are discounted by different discount rate and the total value may also mean the company’s market value.This indicates that the company ’s market value has nothing to do with the proportion of the interest , taxes and the shareholders ’ income in the company ’ s total cash flow , and the company ’ s weighted cost of capital has nothing to do with the interest , taxes, and shareholders’ income value ratio.Therefore, it is be-lieved that there are no connections between corporate value , capital cost and capital structure .%公司投资而形成的资本经过一段时间会给公司带来一个持续的现金流,将该现金流用一个与公司总风险相适应的折现率折现而求得的价值即是公司的市场价值。同时,公司资产产生的现金流基本上可以分解为支付利息、税收和股东所得,三者分别按不同的折现率进行折现后所得的现价值之和也表示公司的市场价值。这表明公司的市场价值与利息、税收、股东所得在公司总现金流中的比例无关,而公司的加权资本成本与利息、税收、股东所得三者现价值比例也没有关系。因此,可以认为,资本结构同资本成本与公司价值无关。

  4. CONSTANT LEVERAGE AND CONSTANT COST OF CAPITAL: A COMMON KNOWLEDGE HALF-TRUTH

    Directory of Open Access Journals (Sweden)

    IGNACIO VÉLEZ-PAREJA

    2008-01-01

    Full Text Available Un enfoque típico para valorar flujos de caja finitos es suponer que el endeudamiento es constante (generalmente como un endeudamiento objetivo o deseado y que por tanto, el costo del patrimonio, Ke y el costo promedio ponderado de capital CPPC, también son constantes. Para los flujos de caja perpetuos, y con el costo de la deuda, Kd como la tasa de descuento para el ahorro en impuestos o escudo fiscal, Ke y el CPPC aplicado al flujo de caja libre FCL son constantes si el endeudamiento es constante. Sin embargo esto no es verdad para los flujos de caja finitos. En este documento mostramos que para flujos de caja finitos, Ke y por lo tanto el CPPC dependen de la tasa de descuento que se utiliza para valorar el ahorro en impuestos, AI y según lo esperado, Ke y el CPPC no son constantes con Kd como la tasa de descuento para el ahorro en impuestos, aunque el endeudamiento sea constante. Ilustramos esta situación con un ejemplo simple. Analizamos cinco métodos: el flujo de caja descontado, FCD, usando APV, el FCD y la formulación tradicional y general del CPPC, el valor presente del flujo de caja del accionista, FCA más deuda y el flujo de caja de capital, FCC.

  5. Homeownership in a high-cost region

    OpenAIRE

    Esther Schlorholtz

    2006-01-01

    A perfect storm is brewing in eastern Massachusetts: high home prices, rising interest rates, and a proliferation of high-cost mortgage products. More buyer education and better state regulation of lenders not covered by the Community Reinvestment Act are needed.

  6. Incidence and direct hospitalisation costs of hip fractures in Vilnius, capital of Lithuania, in 2010

    Directory of Open Access Journals (Sweden)

    Tamulaitiene Marija

    2012-07-01

    Full Text Available Abstract Background Few epidemiological data on hip fractures were previously available in Lithuania. The aim of this study was to estimate the incidence and hospital costs of hip fractures in Vilnius in 2010. Methods Data were collected from the medical charts of all patients admitted to hospitals in Vilnius (population, 548,835 due to new low-energy trauma hip fracture, during 2010. The estimated costs included ambulance transportation and continuous hospitalisation immediately after a fracture, which are covered by the Lithuanian healthcare system. Results The incidence of new low-energy trauma hip fractures was 252 (308 women and 160 men per 100,000 inhabitants of Vilnius aged 50-years or more. There was an exponential increase in the incidence with increasing age. The overall estimated cost of hip fractures in Vilnius was 1,114,292 EUR for the year 2010. The greatest part of the expenditure was accounted for by fractures in individuals aged 65-years and over. The mean cost per case was 2,526.74 EUR, and cost varied depending on the treatment type. Hip replacement did not affect the overall mean costs of hip fracture. The majority of costs were incurred for acute (53% and long-term care (35% hospital stays, while medical rehabilitation accounted for only 12% of the overall cost. The costs of hip fracture were somewhat lower than those found in other European countries. Conclusion The data on incidence and costs of hip fractures will help to assess the importance of interventions to reduce the number of fractures and associated costs.

  7. 26 CFR 1.263A-1 - Uniform capitalization of costs.

    Science.gov (United States)

    2010-04-01

    ... is required to maintain the level of pressure necessary for operation of the facility. However... the portion of the bid not awarded to the taxpayer. In the case of a bid or proposal for a multi-unit... costs are marketing, selling, advertising, and distribution costs. (B) Research and experimental...

  8. Effects of the cost of capital for companies financing decisions%资金成本对企业筹资决策的影响研究

    Institute of Scientific and Technical Information of China (English)

    薛冰峰

    2015-01-01

    决定企业发展的根本因素就是企业的资金成本,而且资金成本对企业筹资决策还起到了非常重要的作用,筹资是企业扩大规模的一种方式,怎样在筹资决策中调整资本结构受到了业界的普遍重视。本文将对资金成本在筹资决策中的作用进行分析阐述,并分析选择适合的筹资方式来降低资金成本的方法。%The fundamental factors that determine the development of enterprises is the company's cost of capital, and the cost of capital for corporate financing decisions also played a very important role in corporate financing is a way to expand the scale and how to adjust the capital structure of the financing decisions by the industry universal attention. This paper will effect the cost of capital in the financing decisions were analyzed and discussed and analyzed to choose the financing method to reduce the cost of capital.

  9. Co-alignment between Environment Risk, Capital Structure, Growth and High-tech Firm Performance

    Institute of Scientific and Technical Information of China (English)

    LI Yan-xi; BAO Shi-ze

    2007-01-01

    To examine whether there is a co-alignment relationship between environment risk, capital structure, growth and high-tech firm performance, the environment risk was measured from the viewpoint of environment change, the long-term debt ratio was adopted as the measure of the capital structure, and the total asset growth and sales growth were chosen to measure the growth of high-tech firms. Regression analysis shows that there is a significant relationship between environment risk, growth and performance of hightech firms measured by the return on equity and cash flow, respectively.

  10. A proposal for evaluation of the owner capital cost for the Brazilian electric power sector; Uma proposta de avaliacao do custo do capital proprio para o setor de energia eletrica brasileiro

    Energy Technology Data Exchange (ETDEWEB)

    Serrano, Ricardo Oliveira L.

    2003-12-01

    This work studies the owner capital cost of the brazilian electric sector, according to three methods: Comparable Accounting Earnings, that uses historical values in its measuring and Discounted Cash Flow (DCF) and the Capital Asset Pricing Model (CAPM), elaborated from the expected values. The obtained results by using the CAE method showed that the Brazilian electric sector has not been rewarded in its real necessity of maintenance and expansion. From this observation, it was considered appropriated not to take this method in the methodology presently proposed, which will be using only the single average of the CAPM and DCF models. The use of the results single average of this model presents the advantage of selecting specific characteristics of each one, and diluting the effects of occasional peak values. The owner capital cost obtained from this work was the average value of 19.73% for the studied period - 1995/2003 (17.12% for 2003), proximate to the obtained result by ANEEL - brazilian agency of electric power - for investments in energy distribution in Brazil, 17.47%, while Minardi and Sanvicente (2003) obtained 36.06% for the owner capital cost of CEMIG in 2002, specifically.

  11. A proposal for evaluation of the owner capital cost for the Brazilian electric power sector; Uma proposta de avaliacao do custo do capital proprio para o setor de energia eletrica brasileiro

    Energy Technology Data Exchange (ETDEWEB)

    Serrano, Ricardo Oliveira L.

    2003-12-01

    This work studies the owner capital cost of the brazilian electric sector, according to three methods: Comparable Accounting Earnings, that uses historical values in its measuring and Discounted Cash Flow (DCF) and the Capital Asset Pricing Model (CAPM), elaborated from the expected values. The obtained results by using the CAE method showed that the Brazilian electric sector has not been rewarded in its real necessity of maintenance and expansion. From this observation, it was considered appropriated not to take this method in the methodology presently proposed, which will be using only the single average of the CAPM and DCF models. The use of the results single average of this model presents the advantage of selecting specific characteristics of each one, and diluting the effects of occasional peak values. The owner capital cost obtained from this work was the average value of 19.73% for the studied period - 1995/2003 (17.12% for 2003), proximate to the obtained result by ANEEL - brazilian agency of electric power - for investments in energy distribution in Brazil, 17.47%, while Minardi and Sanvicente (2003) obtained 36.06% for the owner capital cost of CEMIG in 2002, specifically.

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

    Directory of Open Access Journals (Sweden)

    Li Li

    2015-01-01

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

  13. Social capital and transaction cost on co-creating IT value towards inter-organizational EMR exchange.

    Science.gov (United States)

    Chang, Hsin Hsin; Hung, Chung-Jye; Huang, Ching Ying; Wong, Kit Hong; Tsai, Yi Ju

    2017-01-01

    This study adopts social capital theory and transaction cost theory to explore the feasibility of an inter-organizational cross-hospital electronic medical records (EMR) exchange system, and the factors that affect its adoption. The concept of value co-creation is also used to assess such a system, and its influence on the performance of participating medical institutes. This research collected 330 valid paper-based questionnaires from the medical staff of various institutes. The results showed that social interaction ties and shared vision positively affected medical institutes' willingness to adopt the EMR exchange system, while asset specificity and uncertainty increased the related transaction costs. With a greater willingness to invest in relation-specific assets and to meet the related transaction costs, this behavior lead to an increase in medical IT value, as well as better results for the related medical institutes, medical staff, and patients. Therefore, this study suggests that such institutes encourage their medical staff to participate in seminars or reunions in order to develop their professional and social networks, and set up clear schedules and desire for expected effects when introducing the cross-hospital EMR exchange system.

  14. Where Can Johnnie Learn?--An Investigation into the Acquisition of Social and Cultural Capital by Students during High School

    Science.gov (United States)

    Juarez, Paul A.

    2010-01-01

    A set of ten students from an urban high school were interviewed regarding experiences in Advanced Placement (AP) and non-Advanced Placement courses in high school. Those participants who took an AP Calculus course described opportunities during high school where cultural capital and social capital lead to a successful experience in college. Those…

  15. Where Can Johnnie Learn?--An Investigation into the Acquisition of Social and Cultural Capital by Students during High School

    Science.gov (United States)

    Juarez, Paul A.

    2010-01-01

    A set of ten students from an urban high school were interviewed regarding experiences in Advanced Placement (AP) and non-Advanced Placement courses in high school. Those participants who took an AP Calculus course described opportunities during high school where cultural capital and social capital lead to a successful experience in college. Those…

  16. Reducing the company weighted cost-of-capital by use of Management Commentary transparency in SMEs

    DEFF Research Database (Denmark)

    Schøler, Finn

    the cost of financing through credit institutions or improve the supplier accepted creditworthiness. This paper demonstrates empirically that there is a strong relationship between corporate transparency through use of an extensive management commentary and partly the financial costs, partly creditor......In a stakeholder perspective, this paper deals with information transparency through use of the management commentary as a means to improve the relation to other stakeholders than shareholders in (smaller) non-listed companies (SME’s). Some of the main incentives for doing this could be to reduce...

  17. Reducing the company weighted cost-of-capital by use of Management Commentary transparency in SMEs

    DEFF Research Database (Denmark)

    Schøler, Finn

    In a stakeholder perspective, this paper deals with information transparency through use of the management commentary as a means to improve the relation to other stakeholders than shareholders in (smaller) non-listed companies (SME’s). Some of the main incentives for doing this could be to reduce...... the cost of financing through credit institutions or improve the supplier accepted creditworthiness. This paper demonstrates empirically that there is a strong relationship between corporate transparency through use of an extensive management commentary and partly the financial costs, partly creditor...

  18. ANCAMAN CAPITAL INFLOW

    Directory of Open Access Journals (Sweden)

    Teguh Sihono

    2011-01-01

    Full Text Available Capital inflow can be interpreted as an increase in the amount of money available from external or foreign sources for the purchase of local capital assets such as securities, houses, buildings, land, machinery. These short-term asset purchase, so if at any time be withdrawn in large quantities, it will endanger the country's economy. The swift flow of foreign funds may be a threat to the country which became the capital inflow in the form of options: pressure of inflation, high cost economy, the defisit Central Bank balance, the economic turbulence, and the threat of economic growth. Improvement of high economic growth accompanied by rising foreign exchange reserves that high also, it turns out is not free from the risk of unbridled inflation and economic cricis, destabilizing the economy during those funds withdrawn by foreign investors. For the avoidance of economic risk, should the government together with the Central Bank made a rule to direct capital inflow into the real sektor. Keywords: capital inflows, global likuiditas

  19. Consecuencias de las prácticas de sostenibilidad en el coste de capital y en la reputación corporativa

    Directory of Open Access Journals (Sweden)

    Jennifer Martínez Ferrero

    2014-07-01

    Los resultados tras aplicar una metodología para datos de panel confirman cómo las prácticas de sostenibilidad son valoradas positivamente por los inversores y otros stakeholders, generando un efecto positivo en la reputación empresarial y un menor coste de capital.

  20. Clark fights weak margins and high crude costs by leveraging capital and costs

    Energy Technology Data Exchange (ETDEWEB)

    Melnuk, P.D.

    1997-03-01

    Clark Refining & Marketing`s past year included unprofitable quarters and a legal challenge from the Illinois Attorney General that nearly shuttered the company`s Chicago-area refinery. Yet despite those valleys, there were clearly peaks for the independent refiner--notably, a deal to become one of the first hypermarket suppliers in the US and extension and upgrades of its retail network. Based in St. Louis, Clark employs 7,000 people and operates three refineries, two in Illinois with a combined capacity of 130,000 b/d, and one in Texas with a 200,000-b/d capacity. In addition, the company operates 16 product terminals, a crude oil terminal and about 870 gasoline stations throughout the midwestern US. In an exclusive interview with Hart Fuels Group Editor Carol Cole, Melnuk discusses the company`s accomplishments and shortcomings, along with his personal goals for Clark.

  1. Low cost, high performance far infrared microbolometer

    Science.gov (United States)

    Roer, Audun; Lapadatu, Adriana; Elfving, Anders; Kittilsland, Gjermund; Hohler, Erling

    2010-04-01

    Far infrared (FIR) is becoming more widely accepted within the automotive industry as a powerful sensor to detect Vulnerable Road Users like pedestrians and bicyclist as well as animals. The main focus of FIR system development lies in reducing the cost of their components, and this will involve optimizing all aspects of the system. Decreased pixel size, improved 3D process integration technologies and improved manufacturing yields will produce the necessary cost reduction on the sensor to enable high market penetration. The improved 3D process integration allows a higher fill factor and improved transmission/absorption properties. Together with the high Thermal Coefficient of Resistance (TCR) and low 1/f noise properties provided by monocrystalline silicon germanium SiGe thermistor material, they lead to bolometer performances beyond those of existing devices. The thermistor material is deposited and optimized on an IR wafer separated from the read-out integrated circuit (ROIC) wafer. The IR wafer is transferred to the ROIC using CMOS compatible processes and materials, utilizing a low temperature wafer bonding process. Long term vacuum sealing obtained by wafer scale packaging enables further cost reductions and improved quality. The approach allows independent optimization of ROIC and thermistor material processing and is compatible with existing MEMS-foundries, allowing fast time to market.

  2. Does high-stakes testing increase cultural capital among low-income and racial minority students?

    Directory of Open Access Journals (Sweden)

    Won-Pyo Hong

    2008-03-01

    Full Text Available This article draws on research from Texas and Chicago to examine whether high-stakes testing enables low-income and racial minority students to acquire cultural capital. While students' performance on state or district tests rose after the implementation of high-stakes testing and accountability policies in Texas and Chicago in the 1990s, several studies indicate that these policies seemed to have had deleterious effects on curriculum, instruction, the percentage of students excluded from the tests, and student dropout rates. As a result, the policies seemed to have had mixed effects on students' opportunities to acquire embodied and institutionalized cultural capital. These findings are consistent with the work of Shepard (2000, Darling-Hammond (2004a, and others who have written of the likely negative repercussions of high-stakes testing and accountability policies.

  3. High-Cost Patients Had Substantial Rates Of Leaving Medicare Advantage And Joining Traditional Medicare.

    Science.gov (United States)

    Rahman, Momotazur; Keohane, Laura; Trivedi, Amal N; Mor, Vincent

    2015-10-01

    Medicare Advantage payment regulations include risk-adjusted capitated reimbursement, which was implemented to discourage favorable risk selection and encourage the retention of members who incur high costs. However, the extent to which risk-adjusted capitation has succeeded is not clear, especially for members using high-cost services not previously considered in assessments of risk selection. We examined the rates at which participants who used three high-cost services switched between Medicare Advantage and traditional Medicare. We found that the switching rate from 2010 to 2011 away from Medicare Advantage and to traditional Medicare exceeded the switching rate in the opposite direction for participants who used long-term nursing home care (17 percent versus 3 percent), short-term nursing home care (9 percent versus 4 percent), and home health care (8 percent versus 3 percent). These results were magnified among people who were enrolled in both Medicare and Medicaid. Our findings raise questions about the role of Medicare Advantage plans in serving high-cost patients with complex care needs, who account for a disproportionately high amount of total health care spending.

  4. Capital and operating cost estimates. Volume I. Preliminary design and assessment of a 12,500 BPD coal-to-methanol-to-gasoline plant. [Grace C-M-G Plant, Henderson County, Kentucky

    Energy Technology Data Exchange (ETDEWEB)

    1982-08-01

    This Deliverable No. 18b - Capital and Operating Cost Estimates includes a detailed presentation of the 12,500 BPD coal-to-methanol-to-gasoline plant from the standpoint of capital, preoperations, start-up and operations cost estimation. The base capital cost estimate in June 1982 dollars was prepared by the Ralph M. Parsons Company under the direction of Grace. The escalated capital cost estimate as well as separate estimates for preoperations, startup and operations activities were developed by Grace. The deliverable consists of four volumes. Volume I contains details of methodology used in developing the capital cost estimate, summary information on a base June 1982 capital cost, details of the escalated capital cost estimate and separate sections devoted to preoperations, start-up, and operations cost. The base estimate is supported by detailed information in Volumes II, III and IV. The degree of detail for some units was constrained due to proprietary data. Attempts have been made to exhibit the estimating methodology by including data on individual equipment pricing. Proprietary details are available for inspection upon execution of nondisclosure and/or secrecy agreements with the licensors to whom the data is proprietary. Details of factoring certain pieces of equipment and/or entire modules or units from the 50,000 BPD capital estimate are also included. In the case of the escalated capital estimate, Grace has chosen to include a sensitivity analysis which allows for ready assessment of impacts of escalation rates (inflation), contingency allowances and the construction interest financing rates on the escalated capital cost. Each of the estimates associated with bringing the plant to commercial production rates has as a basis the schedule and engineering documentation found in Deliverable No. 14b - Process Engineering and Mechanical Design Report, No. 28b - Staffing Plans, No. 31b - Construction Plan, and No. 33b - Startup and Operation Plan.

  5. Evaluation of Intellectual and Social Capital of Companies Ranked by Iran’s High Informatics Council

    Directory of Open Access Journals (Sweden)

    Kamran Feizi

    2012-02-01

    Full Text Available To overcome the competition, a company not only focuses on physical capital, but also focuses on intellectual capital. Company can achieve a competitive advantage and earn profit by owing intellectual capital. Since intellectual capital is intangible, there is a need for sufficient transparency in management and measurement. This study was a descriptive survey. The purpose of this paper was to examine the inter-relationships and the interaction effects among intellectual capital components and to demonstrate the impact of intellectual capital on organizational performance, in IT industry. The main conclusion from this particular study was the intellectual capital has influence on IT companies' performance

  6. Low cost high performance uncertainty quantification

    KAUST Repository

    Bekas, C.

    2009-01-01

    Uncertainty quantification in risk analysis has become a key application. In this context, computing the diagonal of inverse covariance matrices is of paramount importance. Standard techniques, that employ matrix factorizations, incur a cubic cost which quickly becomes intractable with the current explosion of data sizes. In this work we reduce this complexity to quadratic with the synergy of two algorithms that gracefully complement each other and lead to a radically different approach. First, we turned to stochastic estimation of the diagonal. This allowed us to cast the problem as a linear system with a relatively small number of multiple right hand sides. Second, for this linear system we developed a novel, mixed precision, iterative refinement scheme, which uses iterative solvers instead of matrix factorizations. We demonstrate that the new framework not only achieves the much needed quadratic cost but in addition offers excellent opportunities for scaling at massively parallel environments. We based our implementation on BLAS 3 kernels that ensure very high processor performance. We achieved a peak performance of 730 TFlops on 72 BG/P racks, with a sustained performance 73% of theoretical peak. We stress that the techniques presented in this work are quite general and applicable to several other important applications. Copyright © 2009 ACM.

  7. Real Activities Earnings Management and Cost of Equity Capital%真实活动盈余管理与权益资本成本

    Institute of Scientific and Technical Information of China (English)

    王亮亮

    2013-01-01

    盈余质量的经济后果是资本市场会计研究的核心问题,囿于变量测度和模型估计等问题,学术界还较少关注真实活动盈余管理与隐含权益资本成本之间的关系。基于 Roy-chowdhury 行业-年度预测模型估计真实活动盈余管理程度,基于 GLS、OJN、GGM 和 CT 等估计模型通过矩阵运算得到隐含权益资本成本,运用1999年至2011年中国上市公司样本,检验真实活动盈余管理对隐含权益资本成本的影响。研究结果表明,销售操控、生产操控和酌量性费用操控3类真实活动盈余管理的幅度都与权益资本成本正相关,基于3类真实活动盈余管理构建的综合指标与权益资本成本正相关,在控制应计项目盈余管理因素的影响下,真实活动盈余管理与权益资本成本之间的关系依旧存在。研究结论为探讨隐含权益资本成本影响因素提供了经验证据。%The economic consequences of earnings management are essential questions in the field of capital market accounting . However , due to problems in variable measures and model estimates , there are few empirical evidences on the link between real earnings management and implied cost of equity capital .Employing industry-year estimation model developed by Roychowdhury to estimate the degree of real earnings management and estimation models such as GLS , OJN, GGM and CT to perform matrix calculation to estimate implied cost of equity capital , this study investigates how real earnings management affects implied cost of equity capital based on data from the Chinese listed companies from 1999 to 2011.The results suggest that:①three types of real earnings management , sales control , production control and cost control , are positively related to cost of equity capital;②com-prehensive indicators based on three types of real earnings management is positively related to cost of equity capital ;and③when the effects of accrual

  8. A cost and returns evaluation of alternative dairy products to determine capital investment and operational feasibility of a small-scale dairy processing facility.

    Science.gov (United States)

    Becker, K M; Parsons, R L; Kolodinsky, J; Matiru, G N

    2007-05-01

    This study examines the economic feasibility of 50- and 500-cow dairy processing facilities for fluid milk, yogurt, and cheese. Net present value and internal rate of return calculations for projected costs and returns over a 10-yr period indicate that larger yogurt and cheese processing plants offer the most profitable prospects, whereas a smaller yogurt plant would break even. A smaller cheese plant would have insufficient returns to cover the cost of capital, and fluid milk processing at either scale is economically infeasible. Economic success in processing is greatly contingent upon individual business, financial management, and marketing skills.

  9. Industrial Features of Firms'Cost of Equity Capital%权益资本成本的行业特征研究

    Institute of Scientific and Technical Information of China (English)

    张军华

    2014-01-01

    以2004~2011年沪深 A股上市公司为样本,研究权益资本成本的行业差异以及行业特征对权益资本成本的影响。研究发现:行业门类层面和制造业次类层面的权益资本成本差异显著,这种差异在时序上较为稳定。行业竞争程度越低,权益资本成本越小,体现了产品市场竞争的特质性风险效应,行业收益波动和行业成长性分别对权益资本成本产生显著的正向影响和负向影响。企业会计准则的改革强化了行业因素对权益资本成本的影响。%Using a total of 2 5 5 2 firm-year balanced panel data of China's A-share listed compa-nies during the period of 2004 to 2011,this paper investigates the cost of equity capital's industri-al differences and industrial features.The results show that there are significant differences in the costs of equity capital in different industries and in manufacturing sub-categories,and such differ-ences are relatively stable over time;the degree of industrial competition and the fluctuation of in-dustrial profits have significantly positive effect on the costs of equity capital,which reflects the effect of the idiosyncratic risk of product market competition;the fluctuation of the return of an industry and the industrial growth have significantly negative and positive effects respectively on the cost of equity capital;and the reform of accounting standards strengthens the industrial factor 'effect on the cost of equity capital.

  10. From capital to capital

    Institute of Scientific and Technical Information of China (English)

    2002-01-01

    HOW easy it is for one who lives in Beijing, capital of the country, to have the impression that all things significant happen there! This is to forget how there are now many provincial capitals in China, that are rapidly modernizing. In order to achieve such modernization, these cities, like

  11. District energy: an important factor in the socially and environmentally responsible solution for the electric power industry; (requiring greater accelerated capital cost allowance treatment for income tax purposes)

    Energy Technology Data Exchange (ETDEWEB)

    Boucher, P. [HSBC James Capel Canada Inc. (Canada); Stevens, S. [Business Development Consumers Utilities (Canada)

    1996-09-01

    The considerable amount of risk associated with the investment in district energy systems was discussed. It was explained that district energy projects frequently require additional capital allowances, particularly in the initial years of a typical project, in order to attract private capital investments to the industry. Advantages of district energy systems were reviewed, among them reduction in CO{sub 2} and NO{sub x} emissions, enhancing energy conservation through the use of high efficiency boilers or thermal waste energy, increasing tax revenue at various levels of government, providing much-needed capital injection into communities, providing construction and operation jobs, and allowing electric utilities to offer cogeneration from older plants helping to avoid stranded investments. 1 tab.

  12. Human Capital,Training Cost and Transnational Service Outsourcing%人力资本、培训成本与跨国服务外包

    Institute of Scientific and Technical Information of China (English)

    任志成; 孙文远

    2012-01-01

    The teamwork based on the difference of human capitals is the typical feature of international service outsourcing.The article analyzes the effect of training cost and the level of human capital on service outsourcing team's cooperative decision and benefit.The research suggests that transnational team's training cost is an important factor influencing the international outsourcing decision.Meanwhile,the effect of training cost on employer's income varies in different team cooperation cost.The higher the level of human capital of the employer's country is,the more income and the more incentive to do service outsourcing the employer's country gain.%基于人力资本差异而形成的团队合作是国际服务外包的典型特征。运用简单的两国模型分析培训成本及人力资本水平对服务外包团队合作决策和收益的影响,研究结果表明:跨国团队的培训成本是国际外包决策的重要影响因素;团队协作成本不同的条件下,培训成本对发包方的收入影响不同;接包国的人力资本水平越高,发包国获得的收入越高,越有动力实施服务外包。

  13. Low Cost, High Efficiency, High Pressure Hydrogen Storage

    Energy Technology Data Exchange (ETDEWEB)

    Mark Leavitt

    2010-03-31

    A technical and design evaluation was carried out to meet DOE hydrogen fuel targets for 2010. These targets consisted of a system gravimetric capacity of 2.0 kWh/kg, a system volumetric capacity of 1.5 kWh/L and a system cost of $4/kWh. In compressed hydrogen storage systems, the vast majority of the weight and volume is associated with the hydrogen storage tank. In order to meet gravimetric targets for compressed hydrogen tanks, 10,000 psi carbon resin composites were used to provide the high strength required as well as low weight. For the 10,000 psi tanks, carbon fiber is the largest portion of their cost. Quantum Technologies is a tier one hydrogen system supplier for automotive companies around the world. Over the course of the program Quantum focused on development of technology to allow the compressed hydrogen storage tank to meet DOE goals. At the start of the program in 2004 Quantum was supplying systems with a specific energy of 1.1-1.6 kWh/kg, a volumetric capacity of 1.3 kWh/L and a cost of $73/kWh. Based on the inequities between DOE targets and Quantum’s then current capabilities, focus was placed first on cost reduction and second on weight reduction. Both of these were to be accomplished without reduction of the fuel system’s performance or reliability. Three distinct areas were investigated; optimization of composite structures, development of “smart tanks” that could monitor health of tank thus allowing for lower design safety factor, and the development of “Cool Fuel” technology to allow higher density gas to be stored, thus allowing smaller/lower pressure tanks that would hold the required fuel supply. The second phase of the project deals with three additional distinct tasks focusing on composite structure optimization, liner optimization, and metal.

  14. Social capital

    OpenAIRE

    Landhäußer, Sandra; Ziegler, Holger

    2003-01-01

    This paper surveys research on social capital. We explore the concepts that motivate the social capital literature, efforts to formally model social capital using economic theory, the econometrics of social capital, and empirical studies of the role of social capital in various socioeconomic outcomes. While our focus is primarily on the place of social capital in economics, we do consider its broader social science context. We argue that while the social capital literature has produced many i...

  15. Low cost, high tech seed cleaning

    Science.gov (United States)

    Robert P. Karrfalt

    2013-01-01

    Clean seeds are a great asset in native plant restoration. However, seed cleaning equipment is often too costly for many small operations. This paper introduces how several tools and materials intended for other purposes can be used directly or made into simple machines to clean seeds.

  16. 新会计准则、盈余透明度与资本成本%China's New Accounting Standards,Earnings Transparency and Cost of Capital

    Institute of Scientific and Technical Information of China (English)

    郑伟光; 高洁; 陆强

    2014-01-01

    In this paper,a new measurement method has been adopted to measure the transparency of accounting earn-ings and examine the relationship between the cost of equity capital and earnings transparency.The impact of China's new accounting standards has also been studied on earnings transparency from the perspective of consolidated financial state-ment theory and fair value.The empirical results show that:the cost of equity capital is negatively associated with earnings transparency;due to new accounting standards,changes of accounting treatment for minority interest income and introduc-tion of fair value increase earnings transparency significantly.It is also found that the new accounting standards weaken the relationship between the cost of capital and earnings transparency.%本文采用一种新的计量方法衡量会计盈余透明度,并研究盈余透明度与股权资本成本的关系,在此基础上从合并报表理论变革和公允价值的视角研究新会计准则对盈余透明度的影响。结果显示:盈余透明度与股权资本成本负相关,新会计准则对少数股东损益计量方法的变更与公允价值的引入显著增加了盈余透明度,同时,研究发现新会计准则的实施削弱了盈余透明度与资本成本的关系。

  17. Case mix, quality and high-cost kidney transplant patients.

    Science.gov (United States)

    Englesbe, M J; Dimick, J B; Fan, Z; Baser, O; Birkmeyer, J D

    2009-05-01

    A better understanding of high-cost kidney transplant patients would be useful for informing value-based purchasing strategies by payers. This retrospective cohort study was based on the Medicare Provider Analysis and Review (MEDPAR) files from 2003 to 2006. The focus of this analysis was high-cost kidney transplant patients (patients that qualified for Medicare outlier payments and 30-day readmission payments). Using regression techniques, we explored relationships between high-cost kidney transplant patients, center-specific case mix, and center quality. Among 43 393 kidney transplants in Medicare recipients, 35.2% were categorized as high-cost patients. These payments represented 20% of total Medicare payments for kidney transplantation and exceeded $200 million over the study period. Case mix was associated with these payments and was an important factor underlying variation in hospital payments high-cost patients. Hospital quality was also a strong determinant of future Medicare payments for high-cost patients. Compared to high-quality centers, low-quality centers cost Medicare an additional $1185 per kidney transplant. Payments for high-cost patients represent a significant proportion of the total costs of kidney transplant surgical care. Quality improvement may be an important strategy for reducing the costs of kidney transplantation.

  18. ISLAMIC BANK PERFORMANCE AND CAPITAL STRUCTURE

    OpenAIRE

    Pratomo, Wahyu Ario; Ismail, Abdul Ghafar

    2006-01-01

    The choice between debt and equity financing has been directed to seek the optimal capital structure. Under the agency costs hypothesis, a high leverage or a low equity/asset ratio reduces the agency costs of outside equity and increases firm value. Several studies show that a firm with high leverage tends to have an optimal capital structure and therefore it leads to produce a good performance, while the Modigliani-Miller theorem proves that it has no effect on the value of firm. The importa...

  19. FORMATION OF THE HUMAN CAPITAL IN MODEL OF INTEGRATION OF HIGH SCHOOL SCIENCE IN INDUSTRY

    Directory of Open Access Journals (Sweden)

    Sergey N. Mityakov

    2013-01-01

    Full Text Available Analyzed the problems of reproduction of human resources in the scientific and educational cooperation and collaboration of university research with industry. Proposed a model integration high school science to industry of the region, including the internal and external levels. On the internal level, proposed a scheme of transfer technology in a technical university, where the formation of human capital is produced in two related areas: training of competitive labor market specialists with higher education, as well as consolidation in the universities of highly qualified personnel. On the external level, proposed creation of an integrated research and education production cluster, which brings together the personnel and technological capabilities of the industrial region.

  20. Case Mix, Quality and High-Cost Kidney Transplant Patients

    OpenAIRE

    Englesbe, M. J.; Dimick, J. B.; Fan, Z; Baser, O.; Birkmeyer, J. D.

    2009-01-01

    A better understanding of high-cost kidney transplant patients would be useful for informing value-based purchasing strategies by payers. This retrospective cohort study was based on the Medicare Provider Analysis and Review (MEDPAR) files from 2003 to 2006. The focus of this analysis was high-cost kidney transplant patients (patients that qualified for Medicare outlier payments and 30-day readmission payments). Using regression techniques, we explored relationships between high-cost kidney t...

  1. Health, Human Capital, and Development.

    Science.gov (United States)

    Bleakley, Hoyt

    2010-09-01

    How much does disease depress development in human capital and income around the world? I discuss a range of micro evidence, which finds that health is both human capital itself and an input to producing other forms of human capital. I use a standard model to integrate these results, and suggest a re-interpretation of much of the micro literature. I then discuss the aggregate implications of micro estimates, but note the complications in extrapolating to general equilibrium, especially because of health's effect on population size. I also review the macro evidence on this topic, which consists of either cross-country comparisons or measuring responses to health shocks. Micro estimates are 1-2 orders of magnitude smaller than the cross-country relationship, but nevertheless imply high benefit-to-cost ratios from improving certain forms of health.

  2. Health, Human Capital, and Development*

    Science.gov (United States)

    Bleakley, Hoyt

    2013-01-01

    How much does disease depress development in human capital and income around the world? I discuss a range of micro evidence, which finds that health is both human capital itself and an input to producing other forms of human capital. I use a standard model to integrate these results, and suggest a re-interpretation of much of the micro literature. I then discuss the aggregate implications of micro estimates, but note the complications in extrapolating to general equilibrium, especially because of health’s effect on population size. I also review the macro evidence on this topic, which consists of either cross-country comparisons or measuring responses to health shocks. Micro estimates are 1–2 orders of magnitude smaller than the cross-country relationship, but nevertheless imply high benefit-to-cost ratios from improving certain forms of health. PMID:24147187

  3. Ultra High Brightness/Low Cost Fiber Coupled Packaging Project

    Data.gov (United States)

    National Aeronautics and Space Administration — High peak power, high efficiency, high reliability lightweight, low cost QCW laser diode pump modules with up to 1000W of QCW output become possible with nLight's...

  4. Capital project cost estimation methodologies. The colombian case study Aproximación a las metodologías de estimación del costo de capital en los proyectos de inversión. El caso colombiano

    Directory of Open Access Journals (Sweden)

    John Díez B

    2011-06-01

    Full Text Available A literature review using databases of the main Colombian universities was made in order to define the theoretical form of capital cost estimation in Colombia. Given a review of global popular methodologies, this article presents an approach to emergent countries, especially Colombia. Up to now, there has not been a general rule or best practice for such estimation; on the contrary, diverse difficulties to be solved exist in an environment where the effects are global and different local situations arise. Academic and pragmatic authors find diverse postures, which makes recommendable to investors or shareholders to permanently evaluate the results. Currently, available models as Capital Asset Pricing are still used and adjust various proposals to its original structure.Con el objetivo de definir la forma de estimar teóricamente el costo de capital enColombia, se llevó a cabo una revisión de la literatura correspondiente en las bases dedatos electrónicas de las principales universidades del país. A partir de una revisiónde las prácticas metodológicas más comunes en el ámbito mundial, se presenta unaaproximación a la situación de los países emergentes y específicamente a la nuestra.Hasta ahora no existe una regla general ni una mejor práctica para dicho cálculo; aún haydificultades por resolver, en un medio donde cada vez son más globales los efectos y haygran diversidad de situaciones locales. Entre los académicos y prácticos encontramosdiversas posturas, razón por la cual es recomendable que los inversionistas o accionistashagan una evaluación permanente de sus resultados. Hoy por hoy se siguen utilizandolos modelos disponibles, entre los cuales el principal es el CAPM (Capital Asset PricingModel, con diversas propuestas de ajuste a su planteamiento tradicional.

  5. A proposal of cost evaluation of own capital for the Brazilian electric sector; Uma proposta de avaliacao do custo do capital proprio para o setor de energia eletrica brasileiro

    Energy Technology Data Exchange (ETDEWEB)

    Serrano, Ricardo Oliveira L.

    2003-12-01

    This work studies the own capital cost of the Brazilian electric sector, by using three methodologies: Comparable Accounting Results (CAR), using historical values for measurement, Discounted Cash Flow (DCF) and the CAPM, elaborated from expected values.The obtained results by using the CAR method indicated that the Brazilian electric power sector is not receiving remuneration according to the real maintenance and expansion necessities. Based on this observation, it was considered appropriated to discard the CAR method in the proposed methodology, therefore using the simply average of the CAPM e DCF models. By using the simply average of the models presents the advantage of capturing specific characteristics of each model, and to dilute effects of eventual extreme values.

  6. The Analyses of the Influence of Business Cost on Capital Gathering and Geographical Choose%商务成本对资本聚集及区位选择的影响分析

    Institute of Scientific and Technical Information of China (English)

    黄志启

    2012-01-01

    Business cost and the changes impact on capital geographical choose,capital selection system will promote the project level of economic and development of the economy.Capital geographical selection has reduced the cost of transaction costs and other business costs,the business cost reduction further attracting capital choice,then strengthening the mechanism of the business cost and capital choose.%一个地区的商务成本构成及其变动影响资本区位选择,资本区位选择等级体系则促进了集聚经济的形成和发展;集聚经济在强化资本区位选择的同时,还降低了该地区要素成本和交易成本等商务成本,这进一步吸引了资本的区位选择,从而形成了商务成本、资本集聚的自加强机制。

  7. Sand in the Wheels of Capitalism

    DEFF Research Database (Denmark)

    Bersem, Mario; Perotti, Enrico; von Thadden, Ernst-Ludwig

    We present a positive theory of capital market frictions that raise the cost of capital for new firms and lower the cost of capital for incumbent firms. Capital market frictions arise from a political conflict across voters who differ in two dimensions: (i) a fraction of voters owns capital......, the rest receives only lab or income; and (ii) voters have different vintages of human capital. We identify young workers as the decisive voter group, with preferences in between capitalists who favor a free capital market, and old workers, who favor restricted capital mobility. We show that capital market...... frictions do not naturally arise in a static framework, or even in a dynamic framework if capital market frictions are reversible. But if capital market frictions can be made to p ersist over time, we show that young workers favor capital market frictions as a way to smo oth income, especially if wealth...

  8. Depression among last-year high school students in Vientiane, capital city of Lao PDR.

    Science.gov (United States)

    Phanthavong, Pinkham; Naphayvong, Philaysak; Reinharz, Daniel

    2015-03-01

    In spite of being a major public health issue, no data on depression in young people exist in Laos. Decision makers are therefore poorly equipped to define the degree of prioritization of this pathology among their preoccupations. This study aimed at estimating the prevalence of depression among last-year high schools students and exploring some of its determinants with a qualitative approach. The quantitative component was based on a survey of a representative sample consisting of 210 students studying in 30 schools in the capital city, Vientiane, using the Beck Depression Inventory validated in the Lao language. The qualitative component was based on interviews with 5 nondepressive and 5 depressive students. Clinical depression prevalence was 24%. Depressed students were aware of the effectiveness of available medication and its importance in controlling the disease. The other students had little knowledge about the disease and how to handle it.

  9. Human capital, percieved domestic institutional quality and entrepreneurship among highly skilled Chinese returnees

    DEFF Research Database (Denmark)

    Bao, Yue; Miao, Qi; Liu, Ying

    2016-01-01

    Over the past two decades, returnee entrepreneurs have emerged as major promoters of business startups and entrepreneurship in China. Recognizing their positive impact in promoting new and innovative companies, Chinese national and local governments have instituted a raft of preferential policies...... aimed at assisting returnee entrepreneurs. Based on a survey of Chinese returnees and returnee entrepreneurship from 2011 to 2012, this paper examines how human capital and perceptions of domestic institutional quality affect entrepreneurial activity among highly skilled returnees. We find...... entrepreneurship, suggesting the relationship between regulatory transparency and entrepreneurial behavior is more complex than is portrayed in previous research done on this matter. The results of our analysis are robust against a number of rigorous statistical specification checks....

  10. Capital y capital social

    OpenAIRE

    Bolívar Espinoza, Gardy Augusto; Elizalde, Antonio

    2012-01-01

    La perspectiva teórica del Capital, del siglo XIX, aparece alejada del capital social del siglo XXI.  Ambas, con la misma raíz, sin embargo, pareciera que no se tocan, ni teórica ni prácticamente.  Quizás, sería pertinente escudriñar esta relación. Desde la década de los noventa, el tema del “capital social” ha sido visto por muchos estudiosos de la realidad social contemporánea como una propuesta promisoria, transversal y hegemónica. Tanto desde la economía, las ciencias morales, la ciencia ...

  11. State Education as High-Yield Investment: Human Capital Theory in European Policy Discourse

    Science.gov (United States)

    Gillies, Donald

    2011-01-01

    Human Capital Theory has been an increasingly important phenomenon in economic thought over the last 50 years. The central role it affords to education has become even more marked in recent years as the concept of the "knowledge economy" has become a global concern. In this paper, the prevalence of Human Capital Theory within European…

  12. State Education as High-Yield Investment: Human Capital Theory in European Policy Discourse

    Science.gov (United States)

    Gillies, Donald

    2011-01-01

    Human Capital Theory has been an increasingly important phenomenon in economic thought over the last 50 years. The central role it affords to education has become even more marked in recent years as the concept of the "knowledge economy" has become a global concern. In this paper, the prevalence of Human Capital Theory within European…

  13. High efficiency low cost GaAs/Ge cell technology

    Science.gov (United States)

    Ho, Frank

    1990-01-01

    Viewgraphs on high efficiency low cost GaAs/Ge cell technology are presented. Topics covered include: high efficiency, low cost GaAs/Ge solar cells; advantages of Ge; comparison of typical production cells for space applications; panel level comparisons; and solar cell technology trends.

  14. High-Efficiency Solar Cells on Low-Cost Substrates

    Science.gov (United States)

    Daiello, R. V.; Robinson, P. H.

    1982-01-01

    High-efficiency solar cells made in thin epitaxial films grown on low-cost commercial silicon substrates. Cost of cells is much less than if high-quality single-crystal silicon were used for substrates and performance of cells is almost as good.

  15. Capital y capital social

    OpenAIRE

    Avalos-Lozano, José Antonio; Barrientos,Jaime; Bolívar Espinoza, Gardy Augusto; Brower Beltramin, Jorge; Cabrera, Cecilia; Caloca Osorio, Oscar Rogelio; Castro Sáez, Bernardo; Ceberio de León, Iñaki; Cleary, Eda; Córdova, María Gabriela; Cuéllar Saavedra, Óscar; Elizalde, Antonio; Flores Vega, Leonel; Gajardo Cornejo, Claudio; Garcés, Alejandro

    2011-01-01

    Desde la década de los noventa, el tema del “capital social” ha sido visto por muchos estudiosos de la realidad social contemporánea como una propuesta promisoria, transversal y hegemónica. Tanto desde la economía, las ciencias morales, la ciencia y la sociología política, expertos de diversas instituciones internacionales han concurrido a este campo en busca de soluciones para el diseño de políticas públicas, que es donde parece brillar más este concepto. El “capital social”, sin embargo, –a...

  16. Capital y capital social

    OpenAIRE

    Avalos-Lozano, José Antonio; Barrientos,Jaime; Bolívar Espinoza, Gardy Augusto; Brower Beltramin, Jorge; Cabrera, Cecilia; Caloca Osorio, Oscar Rogelio; Castro Sáez, Bernardo; Ceberio de León, Iñaki; Cleary, Eda; Córdova, María Gabriela; Cuéllar Saavedra, Óscar; Elizalde, Antonio; Flores Vega, Leonel; Gajardo Cornejo, Claudio; Garcés, Alejandro

    2011-01-01

    Desde la década de los noventa, el tema del “capital social” ha sido visto por muchos estudiosos de la realidad social contemporánea como una propuesta promisoria, transversal y hegemónica. Tanto desde la economía, las ciencias morales, la ciencia y la sociología política, expertos de diversas instituciones internacionales han concurrido a este campo en busca de soluciones para el diseño de políticas públicas, que es donde parece brillar más este concepto. El “capital social”, sin embargo, –a...

  17. High Channel Count, Low Cost, Multiplexed FBG Sensor Systems

    Institute of Scientific and Technical Information of China (English)

    J. J. Pan; FengQing Zhou; Kejian Guan; Joy Jiang; Liang Dong; Albert Li; Xiangdong Qiu; Jonathan Zhang

    2003-01-01

    With rich products development experience in WDM telecommunication networks, we introduce a few of high channel count, multiplexed FBG fiber optic sensor systems featured in reliable high performance and low cost.

  18. Cultural Capital in Context:

    DEFF Research Database (Denmark)

    Andersen, Ida Gran; Jæger, Mads Meier

    This paper analyzes the extent to which the effect of cultural capital on academic achievement varies across high- and low-achieving schooling environments. We distinguish three competing theoretical models: Cultural reproduction (cultural capital yields higher returns in high-achieving schooling...... environments than in low-achieving ones), cultural mobility (cultural capital yields higher returns in low-achieving environments), and cultural resources (cultural capital yields the same returns in different environments). We analyze PISA data from six countries and find that returns to cultural capital tend...... to be higher in low-achieving schooling environments than in high-achieving ones. These results support the cultural mobility explanation and are in line with previous research suggesting that children from low-SES families benefit more from cultural capital than children from high-SES families....

  19. The Role of Social Media in Shaping First-Generation High School Students' College Aspirations: A Social Capital Lens

    Science.gov (United States)

    Wohn, Donghee Yvette; Ellison, Nicole B.; Khan, M. Laeeq; Fewins-Bliss, Ryan; Gray, Rebecca

    2013-01-01

    Using survey data collected from a sample of high school students in the United States (N = 504), this study examined how different types of social capital associated with parents, close friends, and Facebook Friends were related to students' confidence about their knowledge of the college application process and their expectations about…

  20. Defining Advancement Career Paths and Succession Plans: Critical Human Capital Retention Strategies for High-Performing Advancement Divisions

    Science.gov (United States)

    Croteau, Jon Derek; Wolk, Holly Gordon

    2010-01-01

    There are many factors that can influence whether a highly talented staff member will build a career within an institution or use it as a stepping stone. This article defines and explores the notions of developing career paths and succession planning and why they are critical human capital investment strategies in retaining the highest performers…

  1. The Role of Social Media in Shaping First-Generation High School Students' College Aspirations: A Social Capital Lens

    Science.gov (United States)

    Wohn, Donghee Yvette; Ellison, Nicole B.; Khan, M. Laeeq; Fewins-Bliss, Ryan; Gray, Rebecca

    2013-01-01

    Using survey data collected from a sample of high school students in the United States (N = 504), this study examined how different types of social capital associated with parents, close friends, and Facebook Friends were related to students' confidence about their knowledge of the college application process and their expectations about…

  2. Defining Advancement Career Paths and Succession Plans: Critical Human Capital Retention Strategies for High-Performing Advancement Divisions

    Science.gov (United States)

    Croteau, Jon Derek; Wolk, Holly Gordon

    2010-01-01

    There are many factors that can influence whether a highly talented staff member will build a career within an institution or use it as a stepping stone. This article defines and explores the notions of developing career paths and succession planning and why they are critical human capital investment strategies in retaining the highest performers…

  3. Parents and the High Cost of Child Care: 2014 Report

    Science.gov (United States)

    Wood, Stephen; Fraga, Lynette; McCready, Michelle

    2014-01-01

    Eleven million children younger than age five are in some form of child care in the United States. The "Parents and the High Cost of Child Care: 2014 Report" summarizes the cost of child care across the country, examines the importance of child care as a workforce support and as an early learning program, and explores the effect of high…

  4. Parents and the High Cost of Child Care: 2015 Report

    Science.gov (United States)

    Fraga, Lynette; Dobbins, Dionne; McCready, Michelle

    2015-01-01

    Eleven million children younger than age five are in some form of child care in the United States. The "Parents and the High Cost of Child Care: 2015 Report" summarizes the cost of child care across the country, examines the importance of child care as a workforce support and as an early learning program, and explores the effect of high…

  5. Mengukur Kontribusi Human Capital terhadap Tujuan Perusahaan

    Directory of Open Access Journals (Sweden)

    Brata Wibawa Djojo

    2010-10-01

    Human Capital Cost Factor, (iv Human Capital Value Added, and (v Human Capital Return on Investment. Results of research can provide guidelines for the management, especially for management of JLI in view of Human Capital contribution to corporate objectives, namely in terms of staffing and agency.

  6. 47 CFR 65.304 - Capital structure.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 3 2010-10-01 2010-10-01 false Capital structure. 65.304 Section 65.304... OF RETURN PRESCRIPTION PROCEDURES AND METHODOLOGIES Exchange Carriers § 65.304 Capital structure. The proportion of each cost of capital component in the capital structure is equal to: Proportion in the...

  7. CAPITAL STRUCTURE, COST OF DEBT AND DIVIDEND PAYOUT OF FIRMS IN NEW YORK AND SHANGHAI STOCK EXCHANGES

    Directory of Open Access Journals (Sweden)

    Jun Jiang

    2013-01-01

    Full Text Available The Study collects panel data of listed firms in New York Stock and Shanghai Stock Exchanges during 1992 to 2008. The data are used to perform panel regression estimates for firms in each stock market. The main purpose is to compare the decision on dividend payout of listed firms in the two stock markets. The results from fixed effect estimates show that factors that can explain dividend payout of firms in New York Stock Exchange poorly explain dividend payout of firms in Shanghai Stock Exchange. This paper adds to the literature in that it provides an evidence of difference in dividend policy of firms between advanced and emerging stock markets. For policymakers in the Chinese economy, implementation of measures to enhance the advancement of bond market is necessary. Additionally, firms in Shanghai Stock Exchange should adjust their capital structure to provide room for investors to diversify and adjust their portfolios of stocks and bonds.

  8. Niche public transport operational and capital investment strategies to minimize fares in the light of increased energy costs

    CSIR Research Space (South Africa)

    Letebele, MO

    2009-07-01

    Full Text Available Fuel costs are a significant component of a public transport fare. It is therefore of critical importance for measures aimed at containing household public transport expenditure to explore alternative ways of reducing fuel consumption or fuel...

  9. The environmental sustainability. The physical cost of replacement of mineral reserves; La sostenibilidad ambiental a escala planetaria. El coste fisico de reposicion del Capital Mineral de la Tierra

    Energy Technology Data Exchange (ETDEWEB)

    Valero, A.; Martinez, A.; Botero, E.

    2003-07-01

    In order to evaluate the physical value of mineral and water reserves, the concept of Exergy Replacement Cost has been defined as the energy required by the best available technologies to return a resource to the same conditions as it was delivered by the ecosystem. In the case of fossil fuel reserves, a new concept called exergy abatement cost has been proposed as a physical way of measuring the exergy cost of the best available technology for avoiding the environmental externalities associated with the use of fossil fuels. According to the results obtained, the physical value of mineral reserves is 15.4% of oil reserves. In the case of water reserves, 0,4 to 6,4 times the fossil energy consumed would be needed each year to supply only a part of the functions of the hydrological cycle. The global exegetic abatement costs would be 11,3% of the proven world exegetic reserves in fossil fuels. (Author)

  10. High Insecticides Resistance in Culex pipiens (Diptera: Culicidae from Tehran, Capital of Iran

    Directory of Open Access Journals (Sweden)

    Yaser Salim-Abadi

    2016-10-01

    Full Text Available Background: During recent years transmission of Dirofilaria immitis (dog heart worm by Culex pipiens and West Nile virus have been reported from Iran. The present study was preformed for evaluating the susceptibility status of Cx. pipiens collected from capital city of Tehran, Iran.Methods: Four Insecticides including: DDT 4%, Lambdacyhalothrin 0.05%, Deltamethrin 0.05% and Cyfluthrin 0.15 % according to WHO standard  methods were used for evaluating the susceptibility status of Cx. pipiens from Tehran moreover  For comparison susceptibility status a Laboratory strain also was used.  Bioassay data were ana­lyzed using Probit program. The lethal time for 50% and 90% mortality (LT50 and LT90 values were calculated from regression line.Results: The susceptibility status of lab strain of Cx. pipiens revealed that it is susceptible to Lambdacyhalothrin, Deltamethrin, Cyfluthrin and resistant to DDT. Moreover cyfluthrin with LT50=36 seconds and DDT with LT50=3005 seconds had the least and most LT50s. Field population was resistance to all tested insecticides and DDT yielded no mortality.Conclusion: Highly resistance level against all WHO recommended imagicides were detected in field populations. We suggest more biochemical and molecular investigations to detect resistance mechanisms in the field population for further decision of vector control.

  11. Characteristics of violence suffered by high school adolescents in a Brazilian state capital

    Directory of Open Access Journals (Sweden)

    Christine Baccarat de Godoy Martins

    2015-09-01

    Full Text Available The aims of this cross-sectional study was to describe the characteristics of violence suffered by high school adolescent students of public schools in a Brazilian state capital. The data correspond to 456 adolescent victims of violence, collected by means of a questionnaire and processed by Epi-Info, in which analyses considered a value of p<0.05. Most of the adolescents were girls and the variables (gender, age, relationship with aggressor, frequency/length of time of abuse, place of occurrence and its interruption varied according to the type of violence (bullying, physical, psychological, threat, sexual, witness, harassment, cyber-bullying, abandonment, neglect, child labor and parental alienation. The results represent the scene of violence suffered by adolescents, a reality that is poorly known and reported to official bodies, however, the descriptive data represent only part of the problem, highlighting the need to develop new studies to further investigate the various facets of the theme and to suggest new measures for facing violence in adolescence.

  12. 房地产上市公司多元化战略与资本成本关系研究%The Relationship between Diversification Strategy and the Cost of Capital in Listed Real Estate Companies

    Institute of Scientific and Technical Information of China (English)

    张红; 陈嘉伟; 李林峻

    2015-01-01

    This paper uses the econometric model to have empirical analysis on the diversification strategy and the weighted average cost of capital , which includes 59 listed real estate companies in Shanghai and Shenzhen A stock markets from 2003 to 2013.The result of our paper shows a negative relation between the degree of diversifi-cation and the cost of equity capital.The degree of diversification also shows a positive correlation with the cost of debt capital , a negative correlation with the ratio of debt capital , and a positive correlation with the weighted aver-age cost of capital.This result means that when listed real estate companies have diversification strategy , their weighted average cost of capital will increase.%通过面板数据计量经济学模型,对2003~2013年我国沪深A股中59家房地产上市公司多元化经营战略及其加权平均资本成本进行实证分析。结果表明,多元化经营程度与普通股资本成本负相关,与债务资本成本正相关,与负债占资本比例负相关,与加权平均资本成本显著正相关。这意味着当房地产上市公司实行多元化战略时,该公司的加权平均资本成本也会相应提高。

  13. Human Capital Diversification within the Household

    DEFF Research Database (Denmark)

    Lilleør, Helene Bie

    Lack of primary schooling among rural children in developing countries is often attributed to credit constraints and household demand for child labour, implying that direct and indirect costs of schooling are high. Surprisingly few studies have considered the importance of parents' expected returns...... of investing in their childrens human capital, despite the fact that most parents rely on their children for old-age support and subsistence. In this paper, I propose an alternative model for human capital investment based on the household, rather than the individual child, incorporating the fact that parents...... bear the costs of educating all their children and face uncertainty about the level and share of future returns. This uncertainty can make it optimal for parents to ensure a certain degree of human capital diversification within the household. The model implications allow me to test whether...

  14. Thinking strategically about imaging capacity and capital.

    Science.gov (United States)

    Griffin, David; Dubiel, Paul

    2006-01-01

    Diagnostic imaging continues to place high demands on hospital and health system capital budgets due to the high cost of most equipment and the rate of technological change. Diagnostic imaging also can be a significant service in competitive positioning, both alone and in conjunction with other programs and services. The purpose of this article is to provide a framework for linking diagnostic imaging to key hospital programs, and for forecasting future demands and capital requirements. The model has been developed over time in a number of settings in the United States and Canada. The specific examples are mostly from the Seton Healthcore Network in Austin, TX.

  15. A Phenomenological Cost Model for High Energy Particle Accelerators

    CERN Document Server

    Shiltsev, Vladimir

    2014-01-01

    Accelerator-based high-energy physics have been in the forefront of scientific discoveries for more than half a century. The accelerator technology of the colliders has progressed immensely, while the beam energy, luminosity, facility size, and cost have grown by several orders of magnitude. The method of colliding beams has not fully exhausted its potential but has slowed down considerably in its progress. In this paper we derive a simple scaling model for the cost of large accelerators and colliding beam facilities based on costs of 17 big facilities which have been either built or carefully estimated. Although this approach cannot replace an actual cost estimate based on an engineering design, this parameterization is to indicate a somewhat realistic cost range for consideration of what future frontier accelerator facilities might be fiscally realizable.

  16. Deployment of Low-Cost, Carbon Dioxide Sensors throughout the Washington Metropolitan Area - The Capital Climate Initiative

    Science.gov (United States)

    Caine, Kristen M.; Bailey, D. Michelle; Houston Miller, J.

    2016-04-01

    According to the IPCC from 1995 to 2005, atmospheric carbon dioxide (CO2) concentrations increased by 19 ppm, the highest average growth rate recorded for any decade since measurements began in the 1950s. Due to its ability to influence global climate change, it is imperative to continually monitor carbon dioxide emission levels, particularly in urban areas where some estimate in excess of 75% of total greenhouse gas emissions occur. Although high-precision sensors are commercially available, these are not cost effective for mapping a large spatial area. A goal of this research is to build out a network of sensors that are accurate and precise enough to provide a valuable data tool for accessing carbon emissions from a large, urban area. This publically available greenhouse gas dataset can be used in numerous environmental assessments and as validation for remote sensing products. It will also be a valuable teaching tool for classes at our university and will promote further engagement of K-12 students and their teachers through education and outreach activities. Each of our sensors (referred to as "PiOxides") utilizes a non-dispersive infrared (NDIR) sensor for the detection of carbon dioxide along with a combination pressure/temperature/humidity sensor. The collection of pressure and temperature increases the accuracy and precision of the CO2 measurement. The sensors communicate using a serial interfaces with a Raspberry Pi microcontroller. Each PiOxide is connected to a website that leverages recent developments in open source GIS tools. In this way, data from individual sensors can be followed individually or aggregated to provide real-time, spatially-resolved data of CO2 trends across a broad area. Our goal for the network is to expand across the entire DC/Maryland/Virginia Region through partnerships with private and public schools. We are also designing GHG Bluetooth beacons that may be accessed by mobile phone users in their vicinity. In two additional

  17. WHAT DRIVES HIGH COST OF FINANCE IN MOLDOVA?

    Directory of Open Access Journals (Sweden)

    Alexandru Stratan

    2012-03-01

    Full Text Available Why there are high costs to finance in Republic of Moldova? Is it a problem for business environment?These are the questions discussed in this paper. Following the well know Growth Diagnostics approach byHausmann, Rodrik and Velasco, authors assess the barriers and impediments to access to finance in Republic ofMoldova. Guided by international and national statistics we found evidence of poor intermediation, poorinstitutions, high level of inflation, and high collateral as major causes of high cost of financial resources inRepublic of Moldova. At the end of the study authors give policy recommendations identifying other related fieldsto be addressed.

  18. Risk-adjusted capitation based on the Diagnostic Cost Group Model: an empirical evaluation with health survey information

    NARCIS (Netherlands)

    L.M. Lamers (Leida)

    1999-01-01

    textabstractOBJECTIVE: To evaluate the predictive accuracy of the Diagnostic Cost Group (DCG) model using health survey information. DATA SOURCES/STUDY SETTING: Longitudinal data collected for a sample of members of a Dutch sickness fund. In the Netherlands the sickness

  19. Uncovering configurations of HRM service provider intellectual capital and worker human capital for creating high HRM service value using fsQCA

    NARCIS (Netherlands)

    Meijerink, Jeroen Gerard; Bondarouk, Tatiana

    Although traditionally applied independently, this study combines two theoretical perspectives – the intellectual capital theory and the consumer perspective – to uncover value-creating configurations of human resource management (HRM) service providers' and workers' knowledge resources. We examined

  20. The Role of Capital Productivity in British Airways' Financial Recovery

    Science.gov (United States)

    Morrell, Peter

    1999-01-01

    British Airways (BA) was privatised in 1987, but its financial recovery occurred a number of years earlier. This recovery was sustained throughout the early 1990s economic recession, a period when few major airlines were operating profitably. This paper examines the role of productivity developments at British Airways from the early 1980s through 1996. The emphasis is on capital productivity and investment, but changes in capital intensity and labour productivity are also evaluated. Various measures are considered for both capital and labour productivity: outputs are measured in available tonne-kms (ATKS) and revenue tonne-kms (RTKs), with the former preferred over the latter two measures, after adjustment for work performed by BA for others. Capital inputs are measured in equivalent lease costs adjusted to constant prices with a different treatment of flight and ground equipment or assets. Labour inputs are derived from total payroll costs deflated by a UK wage price index. The airline made considerable capital investments over the period and at the same time went through two major processes of labour restructuring. This resulted in a gradual increase in capital intensity, relative high labour productivity growth, but poor capital productivity performance. However, capital investment played an important role in the airline's sustained labour and total factor productivity over the whole period.

  1. High-Efficient Low-Cost Photovoltaics Recent Developments

    CERN Document Server

    Petrova-Koch, Vesselinka; Goetzberger, Adolf

    2009-01-01

    A bird's-eye view of the development and problems of recent photovoltaic cells and systems and prospects for Si feedstock is presented. High-efficient low-cost PV modules, making use of novel efficient solar cells (based on c-Si or III-V materials), and low cost solar concentrators are in the focus of this book. Recent developments of organic photovoltaics, which is expected to overcome its difficulties and to enter the market soon, are also included.

  2. Grid connected integrated community energy system. Phase II: final stage 2 report. Finance plan, capital costs and institutional analysis

    Energy Technology Data Exchange (ETDEWEB)

    1978-03-22

    The development of a grid-connected Integrated Community Energy System (ICES) is described. This system will supply electric power to the Northern States Power Co. in Minnesota and steam for the University of Minnesota, Augsburg College, two Minneapolis hospitals, and the Dept. of Health building. The fossil-fuel power plant would be located on the University of Minnesota campus. The costs, financing, and legal agreements involved in this project are presented and discussed. (LCL)

  3. The Role of Parental Language Acculturation in the Formation of Social Capital: Differential Effects on High-risk Children

    OpenAIRE

    Valdez, Carmen R.; Mills, Monique T.; Bohlig, Amanda J.; Kaplan, David

    2013-01-01

    This person-centered study examines the extent to which parents’ language dominance influences the effects of an after school, multi-family group intervention, FAST, on low-income children’s emotional and behavioral outcomes via parents’ relations with other parents and with school staff. Social capital resides in relationships of trust and shared expectations, which are highly dependent on whether parents share the language of other parents and teachers. This study is based on a community ep...

  4. Deviance as Pedagogy: From Nondominant Cultural Capital to Deviantly Marked Cultural Repertoires

    Science.gov (United States)

    Dixon-Román, Ezekiel J.

    2014-01-01

    Background/Context: Pierre Bourdieu's concept of cultural capital has been employed extensively in sociological, educational, and anthropological research. However, Bourdieu's conceptualization of cultural capital has often been misread to refer only to "high status" or dominant cultural norms and resources at the cost of…

  5. Economic burden of fire-related deaths in Finland, 2000-2010: Indirect costs using a human capital approach.

    Science.gov (United States)

    Haikonen, Kari; Lillsunde, Pirjo M; Lunetta, Philippe; Kokki, Esa

    2016-02-01

    The aim of this study was to examine the indirect economic burden of fire-related deaths in Finland in the period 2000-2010. The Human Capital (HC) approach was the main method used to estimate productivity losses due to fire-related deaths. Additionally, Potential Years of Life Lost (PYLL) due to deaths were reported. A total of 1090 fire-related deaths occurred in the period 2000-2010 within a population of some 5.4 million. The majority were male (76% vs 24%), with a mean age of 52 (CI: 51.0-53.2) years for males and 57 (CI: 54.6-59.6) for females; 24% (CI: 21.1-26.2%) of victims were over the retirement age. Most of the victims died of combustion gas poisoning (65%, CI: 61.8-67.6%), followed by burns (33%, CI: 30.6-36.3%). Alcohol was often involved and victims were often socially disadvantaged, with socioeconomic features significantly deviating from those of the general population. Annual PYLL ranged from 2094 (CI: 1861-2326) to 3299 (CI: 3008-3594), with an annual average PYLL of 2763 (CI: 2675-2851). PYLL per death fell in the study period from 34.3 (2000, CI: 31.0-37.7) to 24.6 (2010, CI: 21.8-27.6). The reduction is attributable to a decreasing fraction of young victims and an increase in average ages. Total productivity loss in the period 2000-2010 was c.a. EUR 342 million (CI: 330-354 million), giving an annual average of EUR 31.1 million (CI: 30.0-32.2 million), with the mean for a victim being EUR 0.315 million (CI: 0.30-0.33 million). The economic burden of deaths is considerable and this study remedies the lack of academic knowledge about the burden of fire-related deaths. Copyright © 2015 Elsevier Ltd and ISBI. All rights reserved.

  6. 42 CFR 412.84 - Payment for extraordinarily high-cost cases (cost outliers).

    Science.gov (United States)

    2010-10-01

    ... outliers). 412.84 Section 412.84 Public Health CENTERS FOR MEDICARE & MEDICAID SERVICES, DEPARTMENT OF... Payments for Outlier Cases, Special Treatment Payment for New Technology, and Payment Adjustment for Certain Replaced Devices Payment for Outlier Cases § 412.84 Payment for extraordinarily high-cost cases...

  7. Corporate Social Capital and Public Relations : Capital Accumulation by Social Relationship and Rethinking the Definition of Public Relations

    OpenAIRE

    北見, 幸一

    2009-01-01

    This paper discusses Corporate Social Capital and Public Relations. This paper overviewed the Social Capital studies, especially early studies in sociology field, proposed the framework to evaluate Social Capital in a capital. Social Capital has the merit to reduce transaction costs, and should be clearly positioned as a component of capital of corporation. Using the concept of the Corporate Social Capital, to rethink the definition of Public Relations, this paper proposed the following defin...

  8. Effectiveness and Effects of China's Capital Controls

    Institute of Scientific and Technical Information of China (English)

    FengjuanXiao; DonaldKimball

    2005-01-01

    Reductions in barriers to global trade have not been accompanied by a widespread loosening of restrictions on international flows of capital, especially in China. This study shows that China has some of the most restrictive controls and uses them effectively to bias flows of cross-border capital heavily in favor of foreign direct investment (FDI) and limit flows of portfolio and bank assets and liabilities, as well as reducing capital flow volatility. China is now facing pressure to speed up its opening to all forms of cross border capital. But since China is still struggling to strengthen its domestic financial structure, capital account liberalization would expose it to considerable risks and potentially high costs.

  9. Cultural Capital in Context:

    DEFF Research Database (Denmark)

    Andersen, Ida Gran; Jæger, Mads Meier

    This paper analyzes the extent to which the effect of cultural capital on academic achievement varies across high- and low-achieving schooling environments. We distinguish three competing theoretical models: Cultural reproduction (cultural capital yields higher returns in high-achieving schooling...... to be higher in low-achieving schooling environments than in high-achieving ones. These results support the cultural mobility explanation and are in line with previous research suggesting that children from low-SES families benefit more from cultural capital than children from high-SES families....

  10. SOCIAL CAPITAL FRAMEWORK AND ITS INFLUENCE ON THE ENTREPRENEURIAL ACTIVITY

    Directory of Open Access Journals (Sweden)

    Badea Mihaela-Raluca

    2013-07-01

    Full Text Available The aim of this article is to understand the theoretical framework of the social capital concept, based on different approaches identified in the literature and highlight the direct influence social capital has on the entrepreneurial personality characteristics of individuals and organizations. The objectives of the paper focus first on conceptualizing the notion of social capital, by acknowledging the social capital structure and components in the acceptation of the most popular scholars in the research field, the sources of social capital and its role in building social economy; further on, the article explores the influence of social capital in the creation of innovation and economic growth, its dimensions in the entrepreneurial process and the definition of the instruments of measurement, including indicators of trust-generalized and institutional, number of social networks, associational activities-passive and active membership and civic norms. The paper gathers some of the outcomes of different researches conducted in the literature with respect to the positive relationship between social capital dimensions and entrepreneurship, through attracting the right potential of human capital and the required level of financial capital, reducing the transaction costs, identifying new market opportunities and leveraging the social networks, transfer and knowledge overflow and information channels, enabling the launch and the survival of business venture and help gain competitive advantage that would ensure sustainability and success. The case studies referenced in this article use various approaches of highlighting the social capital as a key enabler and not necessarily a generator of entrepreneurial activity, by analyzing the likelihood to launch new ventures based on the interactions with key partners and exchange of information, the sustainability and success of a start up or push/pull factors that determine an entrepreneur to enter the new

  11. A Low Cost Neutral Zinc-Iron Flow Battery with High Energy Density for Stationary Energy Storage.

    Science.gov (United States)

    Li, Xianfeng; Xie, Congxin; Duan, Yinqi; Xu, Wenbin; Zhang, Huamin

    2017-10-05

    Flow battery (FB) is one of the most promising stationary energy storage devices for storing renewable energies. However, commercial progress of the FBs is limited by their high cost and low energy density. Here we report a neutral zinc-iron FB with very low cost and high energy density. By using highly soluble FeCl2/ZnBr2 species, a charge energy density of 56.30 Wh/L can be achieved. DFT calculations demonstrated that glycine can combine with iron to suppress hydrolysis and crossover of Fe3+/Fe2+. The results indicated that an energy efficiency of 86.66% can be obtained at 40 mA/cm2 and the battery can run stably for more than 100 cycles. Furthermore, a porous membrane with low cost was employed to lower the capital cost to less than 50 $/kWh, which was the lowest value that has ever been reported. Combining the features of low cost, high energy density and high energy efficiency, the neutral zinc-iron FB becomes a promising candidate for stationary energy storage applications. © 2017 WILEY-VCH Verlag GmbH & Co. KGaA, Weinheim.

  12. Parents' socioeconomic factors related to high antibiotic prescribing in primary health care among children aged 0-6 years in the Capital Region of Denmark

    DEFF Research Database (Denmark)

    Jensen, Jette Nygaard; Bjerrum, Lars; Boel, Jonas

    2016-01-01

    -based registers from Statistics Denmark. SETTING: Antibiotic prescriptions in 2012 from primary health care in the Capital Region of Denmark. SUBJECTS: The population of children aged 0-6 years (n = 139,398) in the Capital Region of Denmark. MAIN OUTCOME MEASURES: High use of antibiotics identified by number...... and the association between high antibiotic use and low educational level. This would provide valuable information in the planning of strategies to promote rational use of antibiotics among children. KEY POINTS The Capital Region of Denmark has the highest rate of antibiotic prescribing in Denmark. Preschool children...

  13. The high cost of low-acuity ICU outliers.

    Science.gov (United States)

    Dahl, Deborah; Wojtal, Greg G; Breslow, Michael J; Holl, Randy; Huguez, Debra; Stone, David; Korpi, Gloria

    2012-01-01

    Direct variable costs were determined on each hospital day for all patients with an intensive care unit (ICU) stay in four Phoenix-area hospital ICUs. Average daily direct variable cost in the four ICUs ranged from $1,436 to $1,759 and represented 69.4 percent and 45.7 percent of total hospital stay cost for medical and surgical patients, respectively. Daily ICU cost and length of stay (LOS) were higher in patients with higher ICU admission acuity of illness as measured by the APACHE risk prediction methodology; 16.2 percent of patients had an ICU stay in excess of six days, and these LOS outliers accounted for 56.7 percent of total ICU cost. While higher-acuity patients were more likely to be ICU LOS outliers, 11.1 percent of low-risk patients were outliers. The low-risk group included 69.4 percent of the ICU population and accounted for 47 percent of all LOS outliers. Low-risk LOS outliers accounted for 25.3 percent of ICU cost and incurred fivefold higher hospital stay costs and mortality rates. These data suggest that severity of illness is an important determinant of daily resource consumption and LOS, regardless of whether the patient arrives in the ICU with high acuity or develops complications that increase acuity. The finding that a substantial number of long-stay patients come into the ICU with low acuity and deteriorate after ICU admission is not widely recognized and represents an important opportunity to improve patient outcomes and lower costs. ICUs should consider adding low-risk LOS data to their quality and financial performance reports.

  14. Research on producing high quality diffractive optical elements in volume at a low cost

    Science.gov (United States)

    Daschner, Walter

    1997-11-01

    Diffractive Optical Elements (DOEs) can be utilized in a variety of possible applications in modern optical, as well as optoelectronic systems. The current roadblock for application of DOEs in consumer products is not the feasibility of the approach, as numerous applications have been successfully demonstrated. In order for the breakthrough to occur in industry, it is important to determine a convenient and cost-effective method for manufacturing DOEs. The industry will improve the design of their legacy systems and start including DOEs only when the performance improvement (which the utilization of DOEs achieves), can be purchased with a minimal amount of additional capital investment and cost-per-part. Therefore, the focus of this dissertation was to find a cost-effective method of fabricating large quantities of DOEs with currently available fabrication tools. Direct-write approaches were investigated to fabricate high-quality masters for a subsequent replication procedure based upon molding or casting. Electron-Beam Direct-Write was carried-out in a positive Novolac-based photo-resist which provides dry etch resistivity. Another focus of this development was to find a way to minimize Electron-Beam writing time for a given element. Proximity effect characterization and compensation has been carried-out in order to increase the fidelity of the pattern reproduction. A dry-etching procedure has been developed in order to transfer resist profiles into the substrate material. During this transfer step, the etch rates of resist and substrate material can be controlled; this in turn allows a choice of final feature depth in the substrate material (depending on refractive index and wavelength in use). Two Gray-Scale masking approaches were developed to allow the cost-effective mass fabrication of DOEs in a single optical exposure step. Thin film evaporation of Inconel achieves high-quality masks at a high price. High Energy Beam Sensitive Glass, the second mask material

  15. Reducing High Absenteeism through Low-Cost Incentives.

    Science.gov (United States)

    North Chaplik, Barbara D.; Engel, Ross A.

    1984-01-01

    Describes a study of the effects of a low-cost incentive program--including daily, weekly, and monthly reinforcements such as attention, approval, and inexpensive awards--on the absenteeism of high-absence employees in an urban school district's transportation department. A 20-percent reduction in absenteeism was achieved. (TE)

  16. Venture Capital and Innovation Strategies

    NARCIS (Netherlands)

    Da Rin, M.; Penas, M.F.

    2015-01-01

    Venture capital is a specialized form of financial intermediation that often provides funding for costly technological innovation. Venture capital firms need to exit portfolio companies within about five years from the investment to generate returns for institutional investors. This paper is the

  17. Venture Capital and Innovation Strategies

    NARCIS (Netherlands)

    Da Rin, M.; Penas, M.F.

    2015-01-01

    Venture capital is a specialized form of financial intermediation that often provides funding for costly technological innovation. Venture capital firms need to exit portfolio companies within about five years from the investment to generate returns for institutional investors. This paper is the fir

  18. A high-performance, low-cost, leading edge discriminator

    Indian Academy of Sciences (India)

    S K Gupta; Y Hayashi; A Jain; S Karthikeyan; S Kawakami; K C Ravindran; S C Tonwar

    2005-08-01

    A high-performance, low-cost, leading edge discriminator has been designed with a timing performance comparable to state-of-the-art, commercially available discriminators. A timing error of 16 ps is achieved under ideal operating conditions. Under more realistic operating conditions the discriminator displays a timing error of 90 ps. It has an intrinsic double pulse resolution of 4 ns which is better than most commercial discriminators. A low-cost discriminator is an essential requirement of the GRAPES-3 experiment where a large number of discriminator channels are used.

  19. Intellectual Capital

    DEFF Research Database (Denmark)

    Mouritsen, Jan; Bukh, Per Nikolaj

    2015-01-01

    Intellectual capital (IC) consists of human capital, organizational capital, and relational capital, and their relationships. It has been said to be important to explain the difference between market value and book value of a firm, but measurement of IC is more likely to be important because...... it forms a starting point for understanding and managing value-creating processes. Three distinct agendas within IC management and research can be identified. The first concerns to measure the components of IC, the second attempts to relate indicators to effects using statistical models, while the third...

  20. Philosophy of design for low cost and high reliability

    DEFF Research Database (Denmark)

    Jørgensen, John Leif; Liebe, Carl Christian

    1996-01-01

    The Ørsted Star Imager or Advanced Stellar Compass (ASC), includes the full functionallity of a traditional star tracker plus autonomy, i.e. it is able to quickly and autonomously solve "the lost in space" attitude problem, and determine its attitude with high precision. The design also provides......, Computational speed and Fault detection and recovery substantially. The high performance and low cost design was realized by the use of advanced high level integrated chips, along with a design philosophy of maximum autonomy at all levels. This approach necessitated the use of a prototyping facility which could...... do extensive component testing and screening which addressed the issues of reliability, thermo-mechanical properties, and radiation sensitivity of the commercial IC's. The facility helped to control costs by generating early information on component survival in space. The development philosophy...

  1. Microfoundations of Social Capital

    DEFF Research Database (Denmark)

    Thöni, Christian; Tyran, Jean-Robert Karl; Wengström, Erik Roland

    2012-01-01

    Research on social capital routinely relies on survey measures of trust which can be collected in large and heterogeneous samples at low cost. We validate such survey measures in an incentivized public good experiment and show that they are importantly related to cooperation behavior in a large...

  2. Celebration Capitalism

    OpenAIRE

    Boykoff, Jules

    2014-01-01

    Capitalism is a nimble shapeshifter. In this talk Jules Boykoff draws from the history of the Olympic Games to offer a theory of “celebration capitalism,” a form of modern-day economics that complements Naomi Klein’s “disaster capitalism” marked by neoliberalism: privatization, deregulation, and free-market rhetoric.

  3. Use of highly alkaline conditions to improve cost-effectiveness of algal biotechnology.

    Science.gov (United States)

    Canon-Rubio, Karen A; Sharp, Christine E; Bergerson, Joule; Strous, Marc; De la Hoz Siegler, Hector

    2016-02-01

    Phototrophic microorganisms have been proposed as an alternative to capture carbon dioxide (CO2) and to produce biofuels and other valuable products. Low CO2 absorption rates, low volumetric productivities, and inefficient downstream processing, however, currently make algal biotechnology highly energy intensive, expensive, and not economically competitive to produce biofuels. This mini-review summarizes advances made regarding the cultivation of phototrophic microorganisms at highly alkaline conditions, as well as other innovations oriented toward reducing the energy input into the cultivation and processing stages. An evaluation, in terms of energy requirements and energy return on energy invested, is performed for an integrated high-pH, high-alkalinity growth process that uses biofilms. Performance in terms of productivity and expected energy return on energy invested is presented for this process and is compared to previously reported life cycle assessments (LCAs) for systems at near-neutral pH. The cultivation of alkaliphilic phototrophic microorganisms in biofilms is shown to have a significant potential to reduce both energy requirements and capital costs.

  4. 资本成本与资产流动性关系的经验验证%The Experience Validation of Relationship Between Cost of Capital and Asset Liquidity

    Institute of Scientific and Technical Information of China (English)

    王春峰; 孙会国; 房振明

    2012-01-01

    从公司财务理论和资产定价理论出发,分析资产流动性通过“流动性效应”和“定价效应”对资本成本的影响可发现:资产流动性直接影响公司对其物质资产重新配置的能力,进而是运营灵活性,从而影响事前资本成本;而其降低时,导致公司运营风险增大,投资者会要求更高的报酬率。更进一步,利用M&LA行为构建资产流动性指数,并用不同方法度量资本成本,尤其经过实证检验发现:在中国市场上,资产流动性越高,企业资本成本越低;对于在行业竞争中处于追随者地位的企业和市值账面比低的企业而言,资产流动性能降低更多资本成本。%Based on the theory of corporate finance and asset pricing, this article studies the effects of real asset liquidity on the cost of capital through "liquidity effect" and "asset pricing effect": Asset liquidity affects the ability of a firm redeploying its real asset, then its operating flexibility and the cost of capital ex ante, while lower asset liquidity leads higher operating risk, and thus investors require higher returns for the capital they provide. This article constructs the corporates' asset liquidity's indices with M~A activities, and computes the cost of capital using different methods, then empirically finds that the cost of capital is lower with higher asset liquidity in Chinese market, and higher asset liquidity reduces the cost of capital by more for firms that are industry leaders or with lower market-to-book ratio.

  5. Information Capital and Organization's Strategy Alignment

    OpenAIRE

    Maja Djukic; Jovica Stankovic

    2005-01-01

    In digital economy very important role has information capital which produce numerous benefits and costs for organizations. But, organization capital creates grate value in an organization only if it is aligned with organization strategy. So, main management problem is being able to make alignment of information capital and organization strategy

  6. Access to high cost medicines in Australia: ethical perspectives.

    Science.gov (United States)

    Lu, Christine Y; Macneill, Paul; Williams, Ken; Day, Ric

    2008-05-19

    Access to "high cost medicines" through Australia's Pharmaceutical Benefits Scheme (PBS) is tightly regulated. It is inherently difficult to apply any criteria-based system of control in a way that provides a fair balance between efficient use of limited resources for community needs and equitable individual access to care. We suggest, in relation to very high cost medicines, that the present arrangements be re-considered in order to overcome potential inequities. The biological agents for the treatment of rheumatoid arthritis are used as an example by which to discuss the ethical issues associated with the current scheme. Consideration of ethical aspects of the PBS and similar programs is important in order to achieve the fairest outcomes for individual patients, as well as for the community.

  7. Norplant's high cost may prohibit use in Title 10 clinics.

    Science.gov (United States)

    1991-04-01

    The article discusses the prohibitive cost of Norplant for the Title 10 low-income population served in public family planning clinics in the U.S. It is argued that it's unfair for U.S. users to pay $350 to Wyeth- Ayerst when another pharmaceutical company provides developing countries with Norplant at a cost of $14 - 23. Although the public sector and private foundations funded the development, it was explained that the company needs to recoup the investment in training and education. Medicaid and third party payers such as insurance companies will reimburse for the higher price, but if the public sector price is lowered, then the company would not make a profit and everyone would have argued for the reimbursement at the lower cost. It was suggested that a boycott of American Home Products, Wyeth-Ayerst's parent company, be made. Public family planning providers who are particularly low in funding reflect that their budget of $30,000 would only provide 85 users, and identified in this circumstance by drug abusers and multiple pregnancy women, and the need for teenagers remains unfulfilled. Another remarked that the client population served is 4700 with $54,000 in funding, which is already accounted for. The general trend of comments was that for low income women the cost is to high.

  8. The Influence of Social Capital Domains on Self-Rated Health Among Serbian High-School Students? A School-Based Cross-Sectional Study

    Directory of Open Access Journals (Sweden)

    Dario Novak

    2016-09-01

    Full Text Available Social capital has been shown as a positive asset for improving overall health in children and youth. Thus, the purpose of the present study was to determine the associations between family, neighborhood and school social capital with self-rated health among Serbian high-school students. This cross-sectional study on 1220 high-school students (539 males and 681 females was carried out in the school year 2015/2016. Main outcome was defined as self-rated health, measured by one question: "How would you rate your health?" with five possible answers: (1 very poor; (2 poor, (3 fair, (4 good and (5 excellent. We binarised the outcome, where answers "very poor", "poor" and "fair" represented "poor health" and "good" and "excellent" "good health". Multiple logistic regression was used to determine the associations between social capital domains and self-rated health. Adjusted by gender, body-mass index, self-perceived socioeconomic status, psychological distress and physical activity, good self-rated health was positively associated only with high family social capital (OR 2.29; 95% CI 1.62 to 3.24. When all the social capital variables were entered simultaneously, self-rated health remained associated with family social capital (OR 2.28; 95% CI 1.61 to 3.24. Family social capital was the only domain strongly associated with self-rated health. Since neighborhood and school social capital represent key support and empathy for children and youth, neighborhood and school-based strategies and policies should be implemented within the system to increase overall physical and mental health.

  9. 制度成本、规模效应与厂商投资决策%Relationship Between Institutional Cost, Capital Stock and Investment Decision-making of a Corporate

    Institute of Scientific and Technical Information of China (English)

    陈张杭健; 王力

    2016-01-01

    制度成本是否会影响厂商的投资决策?是如何影响的?基于存在调整成本的投资模型,将制度成本内生化到该模型中,以探究制度成本是如何影响厂商的资本存量,进而改变厂商的投资决策。针对制度成本的特点提出假设:随着单位资本存量的减少,边际制度调整成本是增加的,即边际制度调整成本随调整的规模递减。理论模型的结果和面板数据模型实证分析表明:(1)在利润最大化的条件下,一单位资本的市场价值等于购买价格(1加上边际制度成本)和边际经济成本之和;(2)相对于内部经济调整成本,制度调整成本占厂商资本存量的比例更大,而且规模越大的厂商,其面临的制度调整成本越小。%Whether the institutional cost will affect the investment decision of corporate or not How it affected the decision -making In this paper , based on the investment model , we put the institutional cost into the model to explore how it affects the capital stock of a corporate and the manufacturer's investment decisions .With the reduction of capital stock , the marginal cost of institution-al adjustment is increased , which means the marginal cost to adjust the size of cost declining .The results of the theoretical model and the Panel Data Model analysis showed that:(1) Under the condition of profit maximization , the market value of a unit capital is equal to the purchase price (one plus the marginal institutional cost ) and the sum of the marginal economic costs;(2) with re-spect to the larger internal economic adjustment costs , the proportion of the capital stock should be larger .The institutional adjust-ment costs of large corporations would be smaller .

  10. Coverage Options for a Low cost, High Resolution Optical Constellation

    OpenAIRE

    Price, M E; Levett, W.; Graham, K.

    2003-01-01

    This paper presents the range of coverage options available to TopSat like small satellites, both singly and in a small constellation. TopSat is a low-cost, high resolution and image quality, optical small satellite, due for launch in October 2004. In particular, the paper considers the use of tuned, repeat ground track orbits to improve coverage for selected ground targets, at the expense of global coverage. TopSat is designed to demonstrate the capabilities of small satellites for high valu...

  11. CAPITAL STRUCTURE AND VENTURE CAPITAL

    Directory of Open Access Journals (Sweden)

    Becsky-Nagy Patricia

    2015-07-01

    Full Text Available Venture capital significantly changes the capital structure of the portfolio company at the time of the investment. Venture capitalists contribute to the company’s success through their active involvement in the management and their added value appears in the increase of the value of the equity. At the same time with taking active role in the management, agency problem occurs, that complicates the cooperation and the success of exit. In this article we search the answer for the question whether the preferred equity, that are commonly used in the US for bridging the agency problem, are used and able to help Hungarian venture capitalists to manage agency problems. On the other hand we examined how the venture capital affect capital structure, how the venture capitalists value added appear in the capital structure. During the evaluation of the three case studies, we came to the conclusion, that the venture capital investments have positive effect on the liabilities of the enterprises, as the capital structure indexes show. However, the investors need the ownership, which help them to step up resolutely, when things change for the worse, and companies need the expertise, which the investors bring with their personal assistance. The investor’s new attitude also has positive effect on a mature company, which has an experienced leader, because he can show another aspect, as a person who come from outside. During the examination of the capital structure, we cannot disregard the events of the company’s environment, which have effects on the firm. The investor’s decisions also appear different ways. Because of this, every venture capital investment is different, just as the capital structure of the firms, in which they invest.

  12. Academic health systems management: the rationale behind capitated contracts.

    Science.gov (United States)

    Taheri, P A; Butz, D A; Greenfield, L J

    2000-06-01

    To determine why hospitals enter into "capitated" contracts, which often generate accounting losses. The authors' hypothesis is that hospitals coordinate contracts to keep beds full and that in principal, capitated contracts reflect sound capacity management. In high-overhead industries, different consumers pay different prices for similar services (e.g., full-fare vs. advanced-purchase plane tickets, full tuition vs. financial aid). Some consumers gain access by paying less than total cost. Hospitals, like other high-overhead business enterprises, must optimize the use of their capacity, amortizing overhead over as many patients as possible. This necessity for enhanced throughput forces hospitals and health systems to discount empty beds, sometimes to the point where they incur accounting losses serving some payors. The authors analyzed the cost accounting system at their university teaching hospital to compare hospital and intensive care unit (ICU) lengths of stay (LOS), variable direct costs (VDC), overhead of capitated patients, and reimbursement versus other payors for all hospital discharges (n = 29,036) in fiscal year 1998. The data were analyzed by diagnosis-related groups (DRGs), length of stay (LOS), insurance carrier, proximity to hospital, and discharge disposition. Patients were then distinguished across payor categories based on their resource utilization, proximity to the hospital, DRG, LOS, and discharge status. The mean cost for capitated patients was $4,887, less than half of the mean cost of $10,394 for the entire hospitalized population. The mean capitated reimbursement was $928/day, exceeding the mean daily VDC of $616 but not the total cost of $1,445/day. Moreover, the mean total cost per patient day of treating a capitated patient was $400 less than the mean total cost per day for noncapitated patients. The hospital's capitated health maintenance organization (HMO) patients made up 16. 0% of the total admissions but only 9.4% of the total

  13. Patents associated with high-cost drugs in Australia.

    Directory of Open Access Journals (Sweden)

    Andrew F Christie

    Full Text Available Australia, like most countries, faces high and rapidly-rising drug costs. There are longstanding concerns about pharmaceutical companies inappropriately extending their monopoly position by "evergreening" blockbuster drugs, through misuse of the patent system. There is, however, very little empirical information about this behaviour. We fill the gap by analysing all of the patents associated with 15 of the costliest drugs in Australia over the last 20 years. Specifically, we search the patent register to identify all the granted patents that cover the active pharmaceutical ingredient of the high-cost drugs. Then, we classify the patents by type, and identify their owners. We find a mean of 49 patents associated with each drug. Three-quarters of these patents are owned by companies other than the drug's originator. Surprisingly, the majority of all patents are owned by companies that do not have a record of developing top-selling drugs. Our findings show that a multitude of players seek monopoly control over innovations to blockbuster drugs. Consequently, attempts to control drug costs by mitigating misuse of the patent system are likely to miss the mark if they focus only on the patenting activities of originators.

  14. The High Value CVT Concept--Cost Effective and Powerful

    Institute of Scientific and Technical Information of China (English)

    A. Englisch,; A. Teubert; A. Gotz; E. Muller; E. Simon; B. Walter; A. Baumgartner

    2011-01-01

    Based on the comprehensive comparison of vehicle performance in economy,engine power,driving smoothness,and efficiency cost as well as pollutant emission etc,the paper discussed the high value CVT concept from an angle of the cost effective and powerful for vehicle.In the paper,it researched the related technical detail in CVT.By means of realizing the continuous change in transmission ratio,it could obtain the optimal matching between transmission system and engine operating mode,and enhance the characteristic of fuel oil in economy,and also improve the convenience in manipulation for driver and make passenger comfortable.For easy to understand the concept,the paper made the comparison analysis in many aspects such as performance,transmission specification,high value CVT hybrid,orifice torque sensor,hydraulic system,high value CVT em,new chain portfolio and assessment of the high value CVT on the NEDC.Finally it showed the potential advantages of CVT technology development,and proposed future developing trends to realize technical scheme of high value CVT.

  15. A Guide To Measuring College Costs.

    Science.gov (United States)

    Winston, Gordon C.

    2000-01-01

    Argues that full-cost models in higher education fail to account correctly for capital and financial aid expenditures. Urges full accounting of all cost drivers that impact on higher education expenditures, e.g., operating costs, maintenance costs, physical capital costs, the current replacement value of capital stock, and the opportunity cost of…

  16. Allergy Capitals

    Science.gov (United States)

    ... Health Professionals Partners Media Donate Research 2016 Fall Allergy Capitals If you’re one of the millions ... needs of their residents with allergic diseases. Fall Allergies by the Numbers Nasal allergies affect more than ...

  17. Understanding Capitalism

    DEFF Research Database (Denmark)

    du Gay, Paul; Morgan, Glenn

    2013-01-01

    This chapter places The New Spirit of Capitalism in the context of the development of capitalism over the last twenty years, up to and including the 200-7-8 financial crisis and the ongoing economic crisis which has developed out of this and is now focused on the relationship between state...... expenditures, political legitimacy and financial markets. Boltanski and Chiapello's analysis of the projective city and connexionist logic captures important elements of capitalism in the era of neo-liberalism. However, as their analysis shows, any such logics require ‘spirit’, legitimacy and justification...... if they are to be sustained. Such logics are stabilized to the degree that they can pass the tests which they set themselves. The chapter shows how the projective city has increasingly failed these tests. It has instead created a privileged group of ‘mobile citizens’ working with mobile, global capital in ways...

  18. Thinking strategically about capitation.

    Science.gov (United States)

    Boland, P

    1997-05-01

    All managed care stakeholders--health plan members, employers, providers, community organizations, and government entitites--share a common interest in reducing healthcare costs while improving the quality of care health plan members receive. Although capitation is a usually thought of primarily as a payment mechanism, it can be a powerful tool providers and health plans can use to accomplish these strategic objectives and others, such as restoring and maintaining the health of plan members or improving a community's health status. For capitation to work effectively as a strategic tool, its use must be tied to a corporate agenda of partnering with stakeholders to achieve broader strategic goals. Health plans and providers must develop a partnership strategy in which each stakeholder has well-defined roles and responsibilities. The capitation structure must reinforce interdependence, shift focus from meeting organizational needs to meeting customer needs, and develop risk-driven care strategies.

  19. Capitalizing China

    OpenAIRE

    Joseph Fan; Randall Morck; Bernard Yeung

    2011-01-01

    Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist features disguise the profoundly unfamiliar foundations of "market socialism with Chinese characteristics." The Chinese Communist Party (CCP), by controlling the career advancement of all senior personnel in all regulatory agencies, all state-owned enterprises (SOEs), and virtually all major financial institutions state-owned enterprises (SOEs), and senior Party positions in all ...

  20. DOSTOYEVSKI'S "CAPITAL"

    OpenAIRE

    GUNAL, E. Zeynep

    2012-01-01

    Dostoyevski who was always in need of money and in debt, wrote two great novels about capital: "Idiot" and "Crime and Punishment". In these novels the writer tries to prove the negative effects of capital on people. This article particularly focuses on "Crime and Punishment". Because crime is discussed as the multi-dimensional factor in this work. Moreover, it is claimed that in the troika of crime which formed of Raskolnikov, Svidrigaylov and Luzhin, Luzhin is the most dangerous character w...

  1. A cost of sexual attractiveness to high-fitness females.

    Directory of Open Access Journals (Sweden)

    Tristan A F Long

    2009-12-01

    Full Text Available Adaptive mate choice by females is an important component of sexual selection in many species. The evolutionary consequences of male mate preferences, however, have received relatively little study, especially in the context of sexual conflict, where males often harm their mates. Here, we describe a new and counterintuitive cost of sexual selection in species with both male mate preference and sexual conflict via antagonistic male persistence: male mate choice for high-fecundity females leads to a diminished rate of adaptive evolution by reducing the advantage to females of expressing beneficial genetic variation. We then use a Drosophila melanogaster model system to experimentally test the key prediction of this theoretical cost: that antagonistic male persistence is directed toward, and harms, intrinsically higher-fitness females more than it does intrinsically lower-fitness females. This asymmetry in male persistence causes the tails of the population's fitness distribution to regress towards the mean, thereby reducing the efficacy of natural selection. We conclude that adaptive male mate choice can lead to an important, yet unappreciated, cost of sex and sexual selection.

  2. High Performance, Low Cost Hydrogen Generation from Renewable Energy

    Energy Technology Data Exchange (ETDEWEB)

    Ayers, Katherine [Proton OnSite; Dalton, Luke [Proton OnSite; Roemer, Andy [Proton OnSite; Carter, Blake [Proton OnSite; Niedzwiecki, Mike [Proton OnSite; Manco, Judith [Proton OnSite; Anderson, Everett [Proton OnSite; Capuano, Chris [Proton OnSite; Wang, Chao-Yang [Penn State University; Zhao, Wei [Penn State University

    2014-02-05

    Renewable hydrogen from proton exchange membrane (PEM) electrolysis is gaining strong interest in Europe, especially in Germany where wind penetration is already at critical levels for grid stability. For this application as well as biogas conversion and vehicle fueling, megawatt (MW) scale electrolysis is required. Proton has established a technology roadmap to achieve the necessary cost reductions and manufacturing scale up to maintain U.S. competitiveness in these markets. This project represents a highly successful example of the potential for cost reduction in PEM electrolysis, and provides the initial stack design and manufacturing development for Proton’s MW scale product launch. The majority of the program focused on the bipolar assembly, from electrochemical modeling to subscale stack development through prototyping and manufacturing qualification for a large active area cell platform. Feasibility for an advanced membrane electrode assembly (MEA) with 50% reduction in catalyst loading was also demonstrated. Based on the progress in this program and other parallel efforts, H2A analysis shows the status of PEM electrolysis technology dropping below $3.50/kg production costs, exceeding the 2015 target.

  3. Are Family, Neighbourhood and School Social Capital Associated with Psychological Distress Among Lithuanian High-School Students? A Cross-Sectional Study

    Directory of Open Access Journals (Sweden)

    Dario Novak

    2016-09-01

    Full Text Available The purpose of the present study was to examine associations between family, neighborhood and school social capital with psychological distress among Lithuanian adolescents 14-18 years of age. Participants were 1863 high-school students (51.4% females, aged 14-18 years in the 2015/2016 school year. Psychological distress was dependent, while social capital domains independent variables. Logistic regression was used to examine the associations of family, neighborhood and school social capital on the risk of high psychological distress. Psychological distress was measured by the Kessler-6 scale. Adjusting for gender, body mass index, self-perceived socioeconomic status, self-rated health and physical activity, high family social capital (OR 0.37; 95% CI 0.27 to 0.50, high neighborhood trust (OR 0.49; 95% CI 0.39 to 0.63, high vertical school trust (OR 0.67; 95% CI 0.52 to 0.88, high horizontal school trust (OR 0.76; 95% CI 0.58 to 1.00 and reciprocity at school (OR 0.56; 95% CI 0.43 to 0.74 was each associated with lower odds of psychological distress. When all independent variables were entered simultaneously, high family social capital, high neighborhood trust, high vertical school trust and reciprocity at school remained associated with lower odds of psychological distress. Since family, neighborhood and school social capital were inversely associated with psychological distress, strategies and policies that improve mutual support between the community and children must be implemented within the system.

  4. Bright Futures?: Human Capital Dilemmas Cloud New England Outlook

    Science.gov (United States)

    Peirce, Neal R.; Johnson, Curtis

    2003-01-01

    In this article, the authors discuss the problematic trends affecting New England's human capital. These trends include migration to other states of New England's graduates due to high cost of living; more than 60 percent of college dropouts; and the decision of most companies to outsource jobs in India and other countries.

  5. 7 CFR 3560.304 - Initial operating capital.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Initial operating capital. 3560.304 Section 3560.304... capital. (a) Purpose. To provide a source of capital for start-up costs, such as the purchase of equipment... initial operating capital contribution to the general operating account as described in § 3560.64....

  6. Measurement of capital stock and input services of Spanish banks

    OpenAIRE

    Alfredo Martín-Oliver; Vicente Salas-Fumás; Jesús Saurina

    2007-01-01

    This paper contains estimates of physical and intangible (information technology, advertising and training) capital stock, together with capital, labor and externally provided input services, of Spanish commercial and saving banks in the period 1983 to 2003. Capital stocks are valued at replacement costs and assets’ services flows are computed using estimates of the risk-adjusted user cost of capital. Replacement costs of assets are substantially higher than book values and economic estimates...

  7. 47 CFR 32.2681 - Capital leases.

    Science.gov (United States)

    2010-10-01

    ... FOR TELECOMMUNICATIONS COMPANIES Instructions for Balance Sheet Accounts § 32.2681 Capital leases. (a... lease payments, excluding that portion of the payments representing executory costs to be paid by the... this account at the inception of a capital lease shall be equal to the original cost, if known, or...

  8. 國中身心障礙學生家庭社經地位、社會資本、文化資本、財務資本與學習成果之關係研究 Relationships Among Family Socioeconomic Status, Social Capital, Cultural Capital, Financial Capital, and the Learning Outcomes of Junior High School Students With Disabilities

    Directory of Open Access Journals (Sweden)

    黃瓊儀 Chiung-Yi Huang

    2015-12-01

    Full Text Available 本研究主要目的在探討七年級身心障礙學生家庭社經地位、社會資本、文化資本與財務資本對學習成果之影響。本研究使用特殊教育長期追蹤資料庫(Special Needs Education Longitudinal, SNELS)所蒐集的967 位身心障礙學生資料,透過結構方程模式來檢定家庭社經地位對社會資本、文化資本、財務資本與學習成果的直接效果,以及探討家庭社經地位透過社會資本、文化資本與財務資本而影響學習成果之中介效果。研究結果顯示:家庭社經地位對多面向學習成果皆為負向影響,而家庭社經地位對社會資本、文化資本、財務資本皆有正向顯著影響,且透過社會資本、文化資本及財務資本對多面向學習成果有正向顯著的間接效果。針對前述研究結果,提出相關討論與建議。 The purpose of this study was to explore the relationships among family socioeconomic status (SES, family resources, and students’ learning outcomes. A sample of 967 junior high school students with disabilities was drawn from the surveys of Special Needs Education Longitudinal Study. Based on previous empirical research and theory, the present study developed and verified a causal model of family SES as an exogenous variable and learning outcomes as an endogenous variable by using structural equation modeling. We also evaluated the roles of social capital, cultural capital, and financial capital as mediating variables. The findings showed that SES negatively affected learning outcomes but positively affected social capital, cultural capital, and financial capital. Social capital, cultural capital, and financial capital had significant mediating effects on the relationship between family SES and learning outcomes. This study proposes relevant suggestions based on the findings.

  9. High SO{sub 2} removal duct injection: A low-cost FGD alternative

    Energy Technology Data Exchange (ETDEWEB)

    Nelson, S.G. [Sorbent Technologies Corp., Twinsburg, OH (United States)

    1995-12-01

    Sorbent Technologies Corporation, of the United States, is currently developing and demonstrating a new waste free, retrofitable, high-SO{sub 2} removal duct-injection process. Up to 85 percent SO{sub 2} removal is achieved by simply injecting a new dry lime-based sorbent into the flue-gas duct, collecting the sorbent downstream in a particulate collector, and then recycling the sorbent. By avoiding large, expensive components, the process can have low capital costs, making it especially appropriate for smaller, older, less-utilized plants. The key to the new technology is the use of sorbent supports. Supported sorbents are produced by coating hydrated lime onto inexpensive mineral supports, such as exfoliated vermiculite or perlite. Consequently, there are no liquid, sludge, or solid wastes with the new technology. Once saturated with SO{sub 2}, the spent sorbent can be easily pelletized into a valuable soil-conditioning agricultural by-product, for the sustainable development that the future requires. This paper describes Sorbent Technologies` pilot demonstration of supported sorbent injection at the Ohio Edison Company`s R.E. Burger station. The Burger effort is also the first demonstration of the Electric Power Research Institute`s new {open_quotes}COHPAC{close_quotes} baghouse technology in a sorbent-injection desulfurization application.

  10. Achieving ‘best value’ for the community by deployment of risk based cost estimation using Monte-Carlo Simulation to rate-payer-funded capital intensive road projects.

    Directory of Open Access Journals (Sweden)

    Mahender Rao

    2014-09-01

    Full Text Available This paper presents the application and validation of a new tool developed by the first author for accurate risk-based estimation of project budgets. Typical capital intensive projects to which this tool can be applied include road reconstruction, road resheet and road rehabilitation projects. Quantitative risk analysis and stochastic modeling using Monte -Carlo simulation is embedded in the algorithms of the computer code. The tool forecasts a range of possible project costs and the probability of the occurrence of those costs by taking into account uncertainties and associated risks. Application of the tool to capital intensive road projects designed by the second author and constructed in 2011 & 2012 demonstrates its validity and utility. Comparisons of forecasted estimates using this tool with actual costs and with traditional deterministic methods of cost estimation (such as --point base-case estimates inclusive of contingency provide valuable insights that can aid management in evaluating alternatives and in making informed decisions when estimating and allocating budgets to a portfolio of road projects.

  11. Social capital and localised learning

    DEFF Research Database (Denmark)

    Lorenzen, Mark

    2007-01-01

      This conceptual paper analyses why social capital is important for learning and economic development, how it is created and its geography. It argues that with the rise of globalisation and learning-based competition, social capital is becoming valuable because it organises markets, lowering...... business firms' costs of co-ordinating and allowing them flexibly to connect and reconnect. The paper defines social capital as a matrix of various social relations, combined with particular normative and cognitive social institutions that facilitate co-operation and reciprocity, and suggests that social...... capital is formed at spatial scales lower than the national or international, because the density of matrices of social relations increases with proximity. The paper also offers a discussion of how national and regional policies may be suited for promoting social capital....

  12. Optimal Dividends of Diffusion Model with Capital Injection and Transaction Cost%带注资和交易费用的扩散模型的最优分红

    Institute of Scientific and Technical Information of China (English)

    岳毅蒙; 王欣; 赵锐

    2016-01-01

    Issues about optimal dividends strategies of the model are discussed based on diffusion model with capital injection and transaction cost and by realizing the difference of maximization of value of expec-tation which equals to discounted dividends of shareholders minus punishment discounting capital injection as a target.The corresponding solutions and optimal dividend strategies are deduced through related HJB e-quation built by stochastic control theory.%在带注资和交易费用的扩散模型基础上,以股东的折现分红减去惩罚折现注资的差的期望值最大化为目标,讨论了模型的最优分红策略问题.由随机控制理论建立相应的HJB方程,得到了相应的解及最优分红策略.

  13. Updating cultural capital theory

    DEFF Research Database (Denmark)

    Prieur, Annick; Savage, Mike

    2011-01-01

    This paper considers how the analysis of cultural engagement can be elaborated through a reworking of the concept of cultural capital, as originally derived from Bourdieu’s (1984) Distinction. Drawing on detailed studies of the UK and Aalborg, Denmark, we show that despite the weakening of ‘‘high......This paper considers how the analysis of cultural engagement can be elaborated through a reworking of the concept of cultural capital, as originally derived from Bourdieu’s (1984) Distinction. Drawing on detailed studies of the UK and Aalborg, Denmark, we show that despite the weakening......, and art); and (c) an international and a local or national orientation stand out as the most important. We discuss whether these oppositions can usefully be conceptualised as cultural capital. We argue that such a conceptualisation demands, first, that cultural capital is understood in relative rather...... than absolute terms, and that a field analytic perspective provides the means of understanding cultural capital as such a relative entity. Second, the move from the empirical observation of oppositions to the conceptualisation of cultural capital also demands that the functioning of features...

  14. The costs and cost-efficiency of providing food through schools in areas of high food insecurity.

    Science.gov (United States)

    Gelli, Aulo; Al-Shaiba, Najeeb; Espejo, Francisco

    2009-03-01

    The provision of food in and through schools has been used to support the education, health, and nutrition of school-aged children. The monitoring of financial inputs into school health and nutrition programs is critical for a number of reasons, including accountability, transparency, and equity. Furthermore, there is a gap in the evidence on the costs, cost-efficiency, and cost-effectiveness of providing food through schools, particularly in areas of high food insecurity. To estimate the programmatic costs and cost-efficiency associated with providing food through schools in food-insecure, developing-country contexts, by analyzing global project data from the World Food Programme (WFP). Project data, including expenditures and number of schoolchildren covered, were collected through project reports and validated through WFP Country Office records. Yearly project costs per schoolchild were standardized over a set number of feeding days and the amount of energy provided by the average ration. Output metrics, such as tonnage, calories, and micronutrient content, were used to assess the cost-efficiency of the different delivery mechanisms. The average yearly expenditure per child, standardized over a 200-day on-site feeding period and an average ration, excluding school-level costs, was US$21.59. The costs varied substantially according to choice of food modality, with fortified biscuits providing the least costly option of about US$11 per year and take-home rations providing the most expensive option at approximately US$52 per year. Comparisons across the different food modalities suggested that fortified biscuits provide the most cost-efficient option in terms of micronutrient delivery (particularly vitamin A and iodine), whereas on-site meals appear to be more efficient in terms of calories delivered. Transportation and logistics costs were the main drivers for the high costs. The choice of program objectives will to a large degree dictate the food modality

  15. Capital Unchained

    DEFF Research Database (Denmark)

    Bryan, Dick; Rafferty, Michael; Wigan, Duncan

    2017-01-01

    The rise of intangible assets such as brand names, research and development, patents and other forms of abstract capital such as digital platforms and data flows has confounded extant measures and concepts of capital and accumulation. What used to be a residual asset category known as ‘goodwill......’ has now overtaken so-called fixed or tangible assets in the profitability and valuation of many leading corporations. Yet these intangible assets lead a double life as both spatial and temporal in some dimensions, yet fluid and spatio-temporally elusive in others. Using a framework focused...... on measuring (by accountants), managing (by corporations) and monitoring (by International Political Economy scholars and regulators), this article explores the longer term implications of accumulation of internationalised capital in intangible and abstract forms, and the prominent role of finance and offshore...

  16. Hipertensão arterial e alguns fatores de risco em uma capital brasileira High blood pressure and some risk factors in a brazilian capital

    Directory of Open Access Journals (Sweden)

    Paulo César B. Veiga Jardim

    2007-04-01

    Full Text Available OBJETIVO: Estimar a prevalência da hipertensão arterial (HA e de alguns fatores de risco cardiovasculares na população adulta de uma capital brasileira. MÉTODOS: Estudo descritivo, observacional e transversal, de base populacional, fundamentado em inquérito domiciliar de amostra aleatória simples (>18a. Questionários padronizados, colhidas informações sociodemográficas, realizadas medidas de PA (duas tomadas, peso, altura, circunferência abdominal. Dados armazenados (programa Microsoft Access e analisados através do programa Epi Info 6. Foi considerada última medida da PA (critério de HA ±140x90 mmHg. RESULTADOS: Avaliamos 1.739 pessoas (87% do previsto. Predomínio do sexo feminino (65,4%, média de idade de 39,7 anos (±15,6. A prevalência de HA foi de 36,4%, sendo maior entre homens (41,8% que entre mulheres (31,8%. Encontrada correlação positiva da HA com IMC, circunferência da cintura (CC e faixa etária, enquanto o sexo feminino representou fator de proteção para o risco de hipertensão. Prevalência de sobrepeso 30,0% e de obesidade 13,6%. Sobrepeso maior entre as mulheres e obesidade entre os homens. Tabagismo teve prevalência de 20,1%, mais freqüente entre homens (27,1% que entre mulheres (16,4%. Sedentarismo presente em 62,3% da população, sem diferenças entre os sexos. Hábito da ingestão regular de bebidas alcoólicas em 44,4% dos indivíduos, mais freqüente entre homens. CONCLUSÃO: Indicadores de HA e de outros fatores de risco cardiovascular (em particular sobrepeso/obesidade mostram-se elevados. Esses dados reforçam a necessidade da implementação de medidas objetivas em âmbito nacional, visando combater esses agravos à saúde, com vistas à redução da morbidade e mortalidade por DCV.OBJECTIVES: Estimate the prevalence of hypertension and some cardiovascular risk factors in the adult population of a major city in Brazil. METHODS: Descriptive, observational, transversal population-based study

  17. High-temperature superconducting transformer performance, cost, and market evaluation

    Energy Technology Data Exchange (ETDEWEB)

    Dirks, J.A.; Dagle, J.E.; DeSteese, J.G.; Huber, H.D.; Smith, S.A.; Currie, J.W. [Pacific Northwest Lab., Richland, WA (United States); Merrick, S.B. [Westinghouse Hanford Co., Richland, WA (United States); Williams, T.A. [National Renewable Energy Lab., Golden, CO (United States)

    1993-09-01

    Recent laboratory breakthroughs in high-temperature superconducting (HTS) materials have stimulated both the scientific community and general public with questions regarding how these materials can be used in practical applications. While there are obvious benefits from using HTS materials (most notably the potential for reduced energy losses in the conductors), a number of issues (such as overall system energy losses, cost, and reliability) may limit applications of HTS equipment, even if the well known materials problems are solved. This study examined the future application potential of HTS materials to power transformers. This study effort was part of a US Department of Energy (DOE) Office of Energy Storage and Distribution (OESD) research program, Superconductivity Technology for Electric Power Systems (STEPS). The study took a systems perspective to gain insights to help guide DOE in managing research designed to realize the vision of HTS applications. Specific objectives of the study were as follows: to develop an understanding of the fundamental HTS transformer design issues that can provide guidance for developing practical devices of interest to the electric utility industry; to identify electric utility requirements for HTS transformers and to evaluate the potential for developing a commercial market; to evaluate the market potential and national benefits for HTS transformers that could be achieved by a successful HTS development program; to develop an integrated systems analysis framework, which can be used to support R&D planning by DOE, by identifying how various HTS materials characteristics impact the performance, cost, and national benefits of the HTS application.

  18. Mine Cost Can Hardly Be Lowered Due To High Percentage Of Inflexible Costs For Lead & Zinc Mine Enterprises

    Institute of Scientific and Technical Information of China (English)

    2016-01-01

    At the 2016(11th)Shanghai Lead&Zinc Summit,Lian Chuanshuang from Tibet Huayu Mining explained the current operation condition of domestic mine enterprises.At the Summit,he pointed out that currently mine cost could hardly be reduced,the main reason is too high percentage of inflexible cost.

  19. Surgical site infections : how high are the costs?

    NARCIS (Netherlands)

    Broex, E. C. J.; van Asselt, A. D. I.; Bruggeman, C. A.; van Tiel, F. H.

    2009-01-01

    There is an increased interest in prevention of nosocomial. infections and in the potential, savings in healthcare costs. The aim of this review of recent studies on surgical site infections (SSIs) was to compare methods of cost research and magnitudes of costs due to SSI. The studies reviewed diffe

  20. Surgical site infections : how high are the costs?

    NARCIS (Netherlands)

    Broex, E. C. J.; van Asselt, A. D. I.; Bruggeman, C. A.; van Tiel, F. H.

    There is an increased interest in prevention of nosocomial. infections and in the potential, savings in healthcare costs. The aim of this review of recent studies on surgical site infections (SSIs) was to compare methods of cost research and magnitudes of costs due to SSI. The studies reviewed

  1. Bridging the Silos of Service Delivery for High-Need, High-Cost Individuals.

    Science.gov (United States)

    Sherry, Melissa; Wolff, Jennifer L; Ballreich, Jeromie; DuGoff, Eva; Davis, Karen; Anderson, Gerard

    2016-12-01

    Health care reform efforts that emphasize value have increased awareness of the importance of nonmedical factors in achieving better care, better health, and lower costs in the care of high-need, high-cost individuals. Programs that care for socioeconomically disadvantaged, high-need, high-cost individuals have achieved promising results in part by bridging traditional service delivery silos. This study examined 5 innovative community-oriented programs that are successfully coordinating medical and nonmedical services to identify factors that stimulate and sustain community-level collaboration and coordinated care across silos of health care, public health, and social services delivery. The authors constructed a conceptual framework depicting community health systems that highlights 4 foundational factors that facilitate community-oriented collaboration: flexible financing, shared leadership, shared data, and a strong shared vision of commitment toward delivery of person-centered care.

  2. High resolution, low cost solar cell contact development

    Science.gov (United States)

    Mardesich, N.

    1981-01-01

    The MIDFILM cell fabrication and encapsulation processes were demonstrated as a means of applying low-cost solar cell collector metallization. The average cell efficiency of 12.0 percent (AM1, 28 C) was achieved with fritted silver metallization with a demonstration run of 500 starting wafers. A 98 percent mechanical yield and 80 percent electrical yield were achieved through the MIDFILM process. High series resistance was responsible for over 90 percent of the electrical failures and was the major factor causing the low average cell efficiency. Environmental evaluations suggest that the MIDFILM cells do not degrade. A slight degradation in power was experienced in the MIDFILM minimodules when the AMP Solarlok connector delaminated during the environmental testing.

  3. Offshore compression system design for low cost high and reliability

    Energy Technology Data Exchange (ETDEWEB)

    Castro, Carlos J. Rocha de O.; Carrijo Neto, Antonio Dias; Cordeiro, Alexandre Franca [Chemtech Engineering Services and Software Ltd., Rio de Janeiro, RJ (Brazil). Special Projects Div.], Emails: antonio.carrijo@chemtech.com.br, carlos.rocha@chemtech.com.br, alexandre.cordeiro@chemtech.com.br

    2010-07-01

    In the offshore oil fields, the oil streams coming from the wells usually have significant amounts of gas. This gas is separated at low pressure and has to be compressed to the export pipeline pressure, usually at high pressure to reduce the needed diameter of the pipelines. In the past, this gases where flared, but nowadays there are a increasing pressure for the energy efficiency improvement of the oil rigs and the use of this gaseous fraction. The most expensive equipment of this kind of plant are the compression and power generation systems, being the second a strong function of the first, because the most power consuming equipment are the compressors. For this reason, the optimization of the compression system in terms of efficiency and cost are determinant to the plant profit. The availability of the plants also have a strong influence in the plant profit, specially in gas fields where the products have a relatively low aggregated value, compared to oil. Due this, the third design variable of the compression system becomes the reliability. As high the reliability, larger will be the plant production. The main ways to improve the reliability of compression system are the use of multiple compression trains in parallel, in a 2x50% or 3x50% configuration, with one in stand-by. Such configurations are possible and have some advantages and disadvantages, but the main side effect is the increase of the cost. This is the offshore common practice, but that does not always significantly improve the plant availability, depending of the previous process system. A series arrangement and a critical evaluation of the overall system in some cases can provide a cheaper system with equal or better performance. This paper shows a case study of the procedure to evaluate a compression system design to improve the reliability but without extreme cost increase, balancing the number of equipment, the series or parallel arrangement, and the driver selection. Two cases studies will be

  4. Decreasing returns to capital, the willingness to pay and the willingness to accept compensation, and the limits of cost-benefit analysis

    NARCIS (Netherlands)

    Vermeylen, K.

    2012-01-01

    This paper uses the Kaldor-Hicks compensation principle to compute the present discounted value (PDV) of a non-marginal future event. Three theoretical results stand out: First, decreasing returns to capital create a wedge between the PDV of future generations' willingness to pay (WTP) and the PDV

  5. High performance of low cost soft magnetic materials

    Indian Academy of Sciences (India)

    Josefina M Silveyra; Emília Illeková; Marco Coïsson; Federica Celegato; Franco Vinai; Paola Tiberto; Javier A Moya; Victoria J Cremaschi

    2011-12-01

    The consistent interest in supporting research and development of magnetic materials during the last century is revealed in their steadily increasing market. In this work, the soft magnetic nanocrystalline FINEMET alloy was prepared with commercial purity raw materials and compared for the first time with the generally studied high purity one. The exhaustive characterization covers several diverse techniques: X-ray diffraction, Mössbauer spectroscopy, differential scanning calorimetry, differential thermal analysis and magnetic properties. In addition, a brief economic analysis is presented. For the alloys annealed at 813 K, the value of the grain size was 16 nm with 19.5% of Si, the coercivity was 0.30 A m-1 while the saturation was 1.2 T. These results prove that structural, magnetic and thermal properties of this material are very close to the expensive high purity FINEMET alloy, while a cost reduction of almost 98% seems highly attractive for laboratories and industry. The analysis should be useful not only for the production of FINEMETs, but for other type of systems with similar constitutive elements as well, including soft and hard magnetic materials.

  6. Low cost, high temperature membranes for PEM fuel cells

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-08-15

    This report details the results of a project to develop novel, low-cost high temperature membranes specifically for automotive fuel cell use. The specific aim of the project was to determine whether a polyaromatic hydrocarbon membrane could be developed that would give a performance (0.68V at 500 mAcm{sub -2}) competitive with an established perfluoronated sulfonic acid (PSA) membrane in a fuel cell at 120{sup o}C and relative humidity of less than 50%. The novel approach used in this project was to increase the concentration of sulphonic groups to a useful level without dissolution by controlling the molecular structure of the membrane through the design of the monomer repeat unit. The physicochemical properties of 70 polymers synthesised in order to determine the effects of controlled sequence distribution were identified using an array of analytical techniques. Appropriate membranes were selected for fuel cell testing and fabricated into membrane electrode assemblies. Most of the homopolymers tested were able to withstand low humidity environments without immediate catastrophic failure and some showed promise from accelerated durability results. The properties of a simple starting polymer structure were found to be enhanced by doping with sulphonated copper phthalocyanine, resulting in high temperature capacity from a potential cheap, simple and scaleable process. The accelerated and long-term durability of such a doped polymer membrane showed that polyaromatics could easily outperform fluoropolymers under high temperature (120{sup o}C) operating conditions.

  7. Scale-up of Novel Low-Cost Carbon Fibers Leading to High-Volume Commercial Launch

    Energy Technology Data Exchange (ETDEWEB)

    Spalding, Mark A [The Dow Chemical Company

    2014-08-27

    on the high levelized economic cost of the process relative to the manufacture of CF from polyacrylonitrile (PAN) precursor fibers. The capital required to sulfonate the fibers adds a significant cost to the process due to the need for investment in a sulfuric acid recovery plant. This high additional capital over the capital for a PAN based CF plant, reduces the levelized economic cost to slightly advantaged over PAN based CF. The sulfonation-desulfonation stabilization route failed to meet the Dow’s return on investment criterion and the cost advantage target set forth for the DOE project. The DOE and Dow decided to halt spending on the project until a new PO fiber stabilization process could be identified that met the DOE physical properties standard and the levelized economic cost constraints of Dow. When the new technology was developed, then award DE-EE0005760 would be re-started with the same goals of the development of a market development plant capable of producing CF at 4 kg/h with the properties that met or exceed those set forth by the Department of Energy Vehicles Technology standard. Progress on the development of the new process has been slow and thus has delayed the scale up project. Dow’s efforts to date have not progressed to the point of demonstrating a commercially-viable process for production of low cost CF from PO precursors for Dow’s rigorous economic constraints. After extensive discussions within Dow and consultation with DOE’s Advanced Manufacturing Office (AMO) Headquarters and Golden Field Office teams, Dow has decided to proceed with the formal recommendation to terminate subject project. DOE’s AMO Headquarters and Golden Field Office teams agreed with the termination of the project.

  8. Capital Campaigns.

    Science.gov (United States)

    Dalessandro, David; And Others

    1989-01-01

    Eight articles focus on capital campaigns including setting goals (D. Dalessandro), the lead gift (D. A. Campbell), motivating trustees (J. J. Ianolli, Jr.), alumni associations (W. B. Adams), role of public relations officers (R. L. Williams), special events( H.R. Gilbert), the campaign document (R. King), and case statements (D. R. Treadwell,…

  9. Capital Challenge

    Institute of Scientific and Technical Information of China (English)

    2009-01-01

    China is on its way to establishing its own venture capital industry Venture capitalists will find no safe haven worldwide as the prospects for the majority of economies to pick up remain dim for the next two years. Still, if some of them have the money and

  10. Provider payments and patient charges as policy tools for cost-containment: How successful are they in high-income countries?

    Science.gov (United States)

    Carrin, Guy; Hanvoravongchai, Piya

    2003-07-31

    In this paper, we focus on those policy instruments with monetary incentives that are used to contain public health expenditure in high-income countries. First, a schematic view of the main cost-containment methods and the variables in the health system they intend to influence is presented. Two types of instruments to control the level and growth of public health expenditure are considered: (i) provider payment methods that influence the price and quantity of health care, and (ii) cost-containment measures that influence the behaviour of patients. Belonging to the first type of instruments, we have: fee-for-service, per diem payment, case payment, capitation, salaries and budgets. The second type of instruments consists of patient charges and reference price systems for pharmaceuticals. Secondly, we provide an overview of experience in high-income countries that use or have used these particular instruments. Finally, the paper assesses the overall potential of these instruments in cost-containment policies.

  11. Low-Cost, Rugged High-Vacuum System

    Science.gov (United States)

    Sorensen, Paul; Kline-Schoder, Robert

    2012-01-01

    A need exists for miniaturized, rugged, low-cost high-vacuum systems. Recent advances in sensor technology have led to the development of very small mass spectrometer detectors as well as other analytical instruments such as scanning electron microscopes. However, the vacuum systems to support these sensors remain large, heavy, and power-hungry. To meet this need, a miniaturized vacuum system was developed based on a very small, rugged, and inexpensive-to-manufacture molecular drag pump (MDP). The MDP is enabled by a miniature, very-high-speed (200,000 rpm), rugged, low-power, brushless DC motor optimized for wide temperature operation and long life. The key advantages of the pump are reduced cost and improved ruggedness compared to other mechanical hig-hvacuum pumps. The machining of the rotor and stators is very simple compared to that necessary to fabricate rotor and stator blades for other pump designs. Also, the symmetry of the rotor is such that dynamic balancing of the rotor will likely not be necessary. Finally, the number of parts in the unit is cut by nearly a factor of three over competing designs. The new pump forms the heart of a complete vacuum system optimized to support analytical instruments in terrestrial applications and on spacecraft and planetary landers. The MDP achieves high vacuum coupled to a ruggedized diaphragm rough pump. Instead of the relatively complicated rotor and stator blades used in turbomolecular pumps, the rotor in the MDP consists of a simple, smooth cylinder of aluminum. This will turn at approximately 200,000 rpm inside an outer stator housing. The pump stator comprises a cylindrical aluminum housing with one or more specially designed grooves that serve as flow channels. To minimize the length of the pump, the gas is forced down the flow channels of the outer stator to the base of the pump. The gas is then turned and pulled toward the top through a second set of channels cut into an inner stator housing that surrounds the

  12. Low cost and high performance screen laminate regenerator matrix

    Energy Technology Data Exchange (ETDEWEB)

    Bin-Nun, Uri; Manitakos, Dan [FLIR Systems, North Billerica, MA (United States)

    2004-08-01

    A laminate screen matrix regenerator with 47 elements has been designed, analyzed, fabricated and tested. The laminate was fabricated from stainless steel screen sheets that were stacked on top of each other at certain angular orientation and then bonded at high temperature and pressure environment utilizing a sintering process. This laminate is a porous structure media with highly repeatable properties that can be controlled by varying mesh size, weave type, wire size and laminate sheet to sheet orientation. The flow direction in relation to the weave plan can be varied by cutting a cylindrical or rectangular laminate element along or across the weave. The regenerator flow resistance, thermal conductance losses, dead volume, surface area and heat transfer coefficient are analyzed. Regenerator cost and performance comparison data between the conventional widely used method of stacked screens and the new stacked laminate matrix regenerator is discussed. Also, a square stainless steel screen laminate was manufactured in a way which permits gas to flow along the screen wire instead of across it. (Author)

  13. Low cost and high performance screen laminate regenerator matrix

    Science.gov (United States)

    Bin-Nun, Uri; Manitakos, Dan

    2004-06-01

    A laminate screen matrix regenerator with 47 elements has been designed, analyzed, fabricated and tested. The laminate was fabricated from stainless steel screen sheets that were stacked on top of each other at certain angular orientation and then bonded at high temperature and pressure environment utilizing a sintering process. This laminate is a porous structure media with highly repeatable properties that can be controlled by varying mesh size, weave type, wire size and laminate sheet to sheet orientation. The flow direction in relation to the weave plan can be varied by cutting a cylindrical or rectangular laminate element along or across the weave. The regenerator flow resistance, thermal conductance losses, dead volume, surface area and heat transfer coefficient are analyzed. Regenerator cost and performance comparison data between the conventional widely used method of stacked screens and the new stacked laminate matrix regenerator is discussed. Also, a square stainless steel screen laminate was manufactured in a way which permits gas to flow along the screen wire instead of across it.

  14. Social capital in settings with a high concentration of road traffic injuries. The case of Cuernavaca, Mexico.

    Science.gov (United States)

    Inclán, Cristina; Hijar, Martha; Tovar, Victor

    2005-11-01

    There exists a differential ability within local communities to maintain effective social controls to prevent road traffic injuries (RTIs) in high risks areas. In 2002 we conducted a cross-sectional study in Cuernavaca, Mexico which incorporated 339 adults living in three areas which were characterized by high RTI concentrations. Multivariate analyses demonstrated that even when participants perceived RTIs as a local problem, they expressed no expectations that community members would exert social control through their involvement in local issues and law adherence. The study revealed four key conclusions regarding the association between the low levels of social capital and RTIs: (a) public roads are used solely for transportation, are not viewed as a communal space, and consequently reciprocity is not viewed as a relevant way of controlling behaviors in public places; (b) "strong immediate personal networks" bring about a lack of reciprocity between those sharing the public space which generates uncooperative behavior; (c) high levels of residential instability hinders the identification of common problems; (d) when there exists a low level of civic commitment and a scarcity of social resources directed towards the problem, the possibilities of social control over RTIs are low.

  15. Driving Down HB-LED Costs. Implementation of Process Simulation Tools and Temperature Control Methods of High Yield MOCVD Growth

    Energy Technology Data Exchange (ETDEWEB)

    Quinn, William [Veeco Process Equipment, Inc., Plainview, NY (United States)

    2012-04-30

    . Programmatically, improvements made in Phase I are applied to developments of Phase II when applicable. Phase three is the culmination of the individual tasks from both phases one and two applied to proposed production platforms. We selectively combine previously demonstrated tasks and other options to develop a high-volume production-worthy MOCVD system demonstrating >3x throughput, 1.3x capital efficiency, and 0.7x cost of ownership. In a parallel demonstration we validate the concept of an improved, larger deposition system which utilizes the predictive modeling of chemistry-based flow analysis and extensions of the improvements demonstrated on the current platforms. This validation includes the build and testing of a prototype version of the hardware and demonstration of 69% reduction in the cost of ownership. Also, in this phase we present a stand-alone project to develop a high-temperature system which improves source efficiency by 30% while concurrently increasing growth rate by 1.3x. The material quality is held to the same material quality specifications of our existing baseline processes. The merits of other line item tasks in phase three are discussed for inclusion on next-generation platforms.

  16. Trinidadian capitalism

    Directory of Open Access Journals (Sweden)

    Kevin A. Yelvington

    1999-07-01

    Full Text Available [First paragraph] Capitalism: An Ethnographic Approach. DANIEL MILLER. Oxford: Berg, 1997. x + 357 pp. (Cloth £39.00, Paper £17.99 Women, Labour and Politics in Trinidad and Tobago: A History. RHODA E. REDDOCK. London: Zed, 1994. vi + 346 pp. (Cloth £39.95, Paper £15.95 Despite the underdeveloped state of the scholarship on its admittedly short sugar plantation slavery period, we now have a corpus of studies on various aspects of capitalism in Trinidad - from its historical advent (Sebastien 1978 to its twentieth-century manifestation in the petroleum sector (Seers 1964; Sandoval 1983, and from the ethnic structure of labor markets (Camejo 1971; Harewood 1971 and the role of capitalism in racial/ethnic inequality (Henry 1993; Coppin & Olsen 1998 to the way ethnicity affects business, big (Button 1981; Parris 1985; Centre for Ethnic Studies 1993 and small (Ryan & Barclay 1992; Griffith 1997, and the way ethnicity and gender are used in class recruitment (Yelvington 1995. There are also a number of fine working-class histories (e.g., Rennie 1973; Ramdin 1982; Basdeo 1983 and important works on the labor riots and strikes and the nature of the colonial state during the crises of the 1930s (e.g., Thomas 1987; Singh 1994. The two books under review here complement the works mentioned above, and they complement each other as well: Reddock's deals with the way capitalism up to the mid-century was buttressed by colonial politics, and explores how this formation engendered certain kinds of political responses, while Miller approaches capitalism through the assumption that fundamental changes in the post-Oil Boom period (ca. 1973-80 brought about considerable autonomy between production and consumption that can and should now be read through an analysis of the cultural circulation of images and commodities in the society. These books are both noteworthy because they engage in explicit theorizing on what capitalism was and is, and what it did and

  17. Capital loss in China's agriculture

    Institute of Scientific and Technical Information of China (English)

    Cheng Peng

    2004-01-01

    China's agriculture has contributed a lot to industrialization but it has suffered a long-run and severe capital loss.This paper provides an estimation model of capital loss in agriculture and gives some explanation in marginal approach.With an eye to a balanced and sustainable economy development, it is high time for government to do something for it.

  18. How to avoid the high costs of physician turnover.

    Science.gov (United States)

    Berger, J E; Boyle, R L

    1992-01-01

    Physician recruitment is a complex, time consuming and competitive activity that is costly in terms of incurred expenses, administrative and physician time and lost revenue. Judith Berger and Robert Boyle, FACMGA, describe how to develop a well-designed retention and recruitment plan to avoid such costs.

  19. Comparison of high-speed rail and maglev system costs

    Energy Technology Data Exchange (ETDEWEB)

    Rote, D.M.

    1998-07-01

    This paper compares the two modes of transportation, and notes important similarities and differences in the technologies and in how they can be implemented to their best advantage. Problems with making fair comparisons of the costs and benefits are discussed and cost breakdowns based on data reported in the literature are presented and discussed in detail. Cost data from proposed and actual construction projects around the world are summarized and discussed. Results from the National Maglev Initiative and the recently-published Commercial Feasibility Study are included in the discussion. Finally, estimates will be given of the expected cost differences between HSR and maglev systems implemented under simple and complex terrain conditions. The extent to which the added benefits of maglev technology offset the added costs is examined.

  20. Why projects often fail even with high cost contingencies

    Energy Technology Data Exchange (ETDEWEB)

    Kujawski, Edouard

    2002-02-28

    In this note we assume that the individual risks have been adequately quantified and the total project cost contingency adequately computed to ensure an agreed-to probability or confidence level that the total project cost estimate will not be exceeded. But even projects that implement such a process are likely to result in significant cost overruns and/or project failure if the project manager allocates the contingencies to the individual subsystems. The intuitive and mathematically valid solution is to maintain a project-wide contingency and to distribute it to the individual risks on an as-needed basis. Such an approach ensures cost-efficient risk management, and projects that implement it are more likely to succeed and to cost less. We illustrate these ideas using a simplified project with two independent risks. The formulation can readily be extended to multiple risks.

  1. Measurement of luminescence decays: High performance at low cost

    Science.gov (United States)

    Sulkes, Mark; Sulkes, Zoe

    2011-11-01

    The availability of inexpensive ultra bright LEDs spanning the visible and near-ultraviolet combined with the availability of inexpensive electronics equipment makes it possible to construct a high performance luminescence lifetime apparatus (˜5 ns instrumental response or better) at low cost. A central need for time domain measurement systems is the ability to obtain short (˜1 ns or less) excitation light pulses from the LEDs. It is possible to build the necessary LED driver using a simple avalanche transistor circuit. We describe first a circuit to test for small signal NPN transistors that can avalanche. We then describe a final optimized avalanche mode circuit that we developed on a prototyping board by measuring driven light pulse duration as a function of the circuit on the board and passive component values. We demonstrate that the combination of the LED pulser and a 1P28 photomultiplier tube used in decay waveform acquisition has a time response that allows for detection and lifetime determination of luminescence decays down to ˜5 ns. The time response and data quality afforded with the same components in time-correlated single photon counting are even better. For time-correlated single photon counting an even simpler NAND-gate based LED driver circuit is also applicable. We also demonstrate the possible utility of a simple frequency domain method for luminescence lifetime determinations.

  2. Is Social Capital an Effective Smoke Condenser?

    DEFF Research Database (Denmark)

    Paldam, M.; Svendsen, Gert Tinggaard

    1999-01-01

    Social capital is defined as mutual trust. It is related to production by a key hypothesis: social capital determines how easily people work together. An easy-to-use proxy (Putnam's Instrument) is the density of voluntary organizations. Social capital might be a new production factor which must...... be added to human and physical capital, or it might enter as a reduction in either transaction or monitoring costs. A direct and an indirect way to measure social capital are discussed. The crucial question is if social capital can be changed. That is, if self enforcement can replace third party...... enforcement, and it is discussed how much harm totalitarian regimes do to social capital, when they expand their area of central control....

  3. Care Coordination Challenges Among High-Needs, High-Costs Older Adults in a Medigap Plan

    Science.gov (United States)

    Wells, Timothy S.; Bhattarai, Gandhi R.; Hawkins, Kevin; Cheng, Yan; Ruiz, Joann; Barnowski, Cynthia A.; Spivack, Barney; Yeh, Charlotte S.

    2016-01-01

    Purpose of the Study: Many adults 65 years or older have high health care needs and costs. Here, we describe their care coordination challenges. Primary Practice Setting: Individuals with an AARP Medicare Supplement Insurance plan insured by UnitedHealthcare Insurance Company (for New York residents, UnitedHealthcare Insurance Company of New York). Methodology and Sample: The three groups included the highest needs, highest costs (the “highest group”), the high needs, high costs (the “high group”), and the “all other group.” Eligibility was determined by applying an internally developed algorithm based upon a number of criteria, including hierarchical condition category score, the Optum ImpactPro prospective risk score, as well as diagnoses of coronary artery disease, congestive heart failure, or diabetes. Results: The highest group comprised 2%, although consumed 12% of health care expenditures. The high group comprised 20% and consumed 46% of expenditures, whereas the all other group comprised 78% and consumed 42% of expenditures. On average, the highest group had $102,798 in yearly health care expenditures, compared with $34,610 and $7,634 for the high and all other groups, respectively. Fifty-seven percent of the highest group saw 16 or more different providers annually, compared with 21% and 2% of the high and all other groups, respectively. Finally, 28% of the highest group had prescriptions from at least seven different providers, compared with 20% and 5% of the high and all other groups, respectively. Implications for Case Management Practice: Individuals with high health care needs and costs have visits to numerous health care providers and receive multiple prescriptions for pharmacotherapy. As a result, these individuals can become overwhelmed trying to manage and coordinate their health care needs. Care coordination programs may help these individuals coordinate their care. PMID:27301064

  4. The Mechanism between Internal Control Information Disclosure and Cost of Capital Equity%论内控信息披露与股权融资成本关系的作用机理

    Institute of Scientific and Technical Information of China (English)

    熊伟; 张艳

    2015-01-01

    随着我国资本市场的不断发展,上市公司的内部控制信息披露和股权融资成本表现出重要的关系。委托代理理论、信息不对称理论、信号传递理论都说明了上市公司主动且详细地披露内控信息的上市公司,其发展潜力巨大。投资者预期风险和股票流动性是内控信息披露质量与股权融资成本的关系的间接因素,内控信息披露质量越高,投资者对未来预期的风险就越小,股权融资成本就越低,同时,内控信息披露质量越高,股票流动性就越高,从而可以降低股权融资成本。%With the rapid development of our capital market, the internal control information disclosure and cost of capital equity of listed companies have been closely related. Principal-agency theory, information asymmetry theory and signaling theory have all demonstrated that listed companies will enjoy huge development potentials if they take the initiative to disclose their internal control information at great lengths. Investor expectation of risk and stock liquidity can, to some extent, affect the relationship between the two. The better the internal control information disclosure is, the lower the investor expectation of risk will be. In addition, the better internal control information dis-closure can also speed up stock exchange and thus bring down the cost of capital equity.

  5. Are family, neighbourhood and school social capital associated with higher self-rated health among Croatian high school students? A population-based study.

    Science.gov (United States)

    Novak, Dario; Suzuki, Etsuji; Kawachi, Ichiro

    2015-06-08

    We investigated the associations between self-rated health and social capital among Croatian high school students. A cross-sectional survey among high school students was carried out in the 2013-2014 school year. High schools in Croatia. Subjects were 3427 high school students (1688 males and 1739 females), aged 17-18 years. Self-rated health was assessed by the single item: "How do you perceive your health?". Possible responses were arranged along a five-item Likert-type scale: 1 very poor, 2 poor, 3 fair, 4 good, 5 excellent. The outcome was binarised as 'good health' (excellent, good or fair) versus 'poor health' (poor or very poor). We calculated ORs and 95% CIs for good self-rated health associated with family, neighbourhood and school social capital, while adjusting for gender, self-perceived socioeconomic status, psychological distress, physical activity and body mass index. We used generalised estimating equations using an exchangeable correlation matrix with robust SEs. Good self-rated health was significantly associated with higher family social capital (OR 2.43; 95% CI 1.55 to 3.80), higher neighbourhood trust (OR 2.02; 95% CI 1.48 to 2.76) and higher norms of reciprocity at school (OR 1.79; 95% CI 1.13 to 2.84). When all of the social capital variables were entered simultaneously, good self-rated health remained significantly associated with higher family social capital (OR 1.98; 95% CI 1.19 to 3.30), neighbourhood trust (OR 1.77; 95% CI 1.25 to 2.51) and reciprocity at school (OR 1.71; 95% CI 1.08 to 2.73). Higher levels of social capital were independently associated with higher self-rated health among youth. Intervention and policies that leverage community social capital might serve as an avenue for health promotion in youth. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://group.bmj.com/group/rights-licensing/permissions.

  6. Manufacturing High-Quality Carbon Nanotubes at Lower Cost

    Science.gov (United States)

    Benavides, Jeanette M.; Lidecker, Henning

    2004-01-01

    A modified electric-arc welding process has been developed for manufacturing high-quality batches of carbon nanotubes at relatively low cost. Unlike in some other processes for making carbon nanotubes, metal catalysts are not used and, consequently, it is not necessary to perform extensive cleaning and purification. Also, unlike some other processes, this process is carried out at atmospheric pressure under a hood instead of in a closed, pressurized chamber; as a result, the present process can be implemented more easily. Although the present welding-based process includes an electric arc, it differs from a prior electric-arc nanotube-production process. The welding equipment used in this process includes an AC/DC welding power source with an integral helium-gas delivery system and circulating water for cooling an assembly that holds one of the welding electrodes (in this case, the anode). The cathode is a hollow carbon (optionally, graphite) rod having an outside diameter of 2 in. (approximately equal to 5.1 cm) and an inside diameter of 5/8 in. (approximately equal to 1.6 cm). The cathode is partly immersed in a water bath, such that it protrudes about 2 in. (about 5.1 cm) above the surface of the water. The bottom end of the cathode is held underwater by a clamp, to which is connected the grounding cable of the welding power source. The anode is a carbon rod 1/8 in. (approximately equal to 0.3 cm) in diameter. The assembly that holds the anode includes a thumbknob- driven mechanism for controlling the height of the anode. A small hood is placed over the anode to direct a flow of helium downward from the anode to the cathode during the welding process. A bell-shaped exhaust hood collects the helium and other gases from the process. During the process, as the anode is consumed, the height of the anode is adjusted to maintain an anode-to-cathode gap of 1 mm. The arc-welding process is continued until the upper end of the anode has been lowered to a specified height

  7. Heterogeneity in Human Capital Investments: High School Curriculum, College Major, and Careers

    Science.gov (United States)

    Altonji, Joseph G.; Blom, Erica; Meghir, Costas

    2012-01-01

    Motivated by the large differences in labor market outcomes across college majors, we survey the literature on the demand for and return to high school and postsecondary education by field of study. We combine elements from several papers to provide a dynamic model of education and occupation choice that stresses the roles of the specificity of…

  8. Latina Spanish High School Teachers' Negotiation of Capital in New Latino Communities

    Science.gov (United States)

    Colomer, Soria Elizabeth

    2014-01-01

    Based on a qualitative study documenting how Spanish teachers bear an especially heavy burden as unofficial translators, interpreters, and school representatives, this article documents how some Latina high school Spanish teachers struggle to form social networks with Latino students in new Latino school communities. Employing social frameworks,…

  9. Latina Spanish High School Teachers' Negotiation of Capital in New Latino Communities

    Science.gov (United States)

    Colomer, Soria Elizabeth

    2014-01-01

    Based on a qualitative study documenting how Spanish teachers bear an especially heavy burden as unofficial translators, interpreters, and school representatives, this article documents how some Latina high school Spanish teachers struggle to form social networks with Latino students in new Latino school communities. Employing social frameworks,…

  10. Latina Spanish High School Teachers' Negotiation of Capital in New Latino Communities

    Science.gov (United States)

    Colomer, Soria Elizabeth

    2014-01-01

    Based on a qualitative study documenting how Spanish teachers bear an especially heavy burden as unofficial translators, interpreters, and school representatives, this article documents how some Latina high school Spanish teachers struggle to form social networks with Latino students in new Latino school communities. Employing social frameworks,…

  11. Capitalizing Central Banks: A Net Worth Approach

    OpenAIRE

    Alain Ize

    2005-01-01

    This paper provides a simple, quantitative, net worth-based, approach to assessing the need for central bank capital. It derives a concept of "core capital" (a function of the central bank's operating expenditures and the carrying cost of its international reserves) as the minimum capital needed by a central bank to ensure the credibility of its inflation target. The approach is illustrated with the published accounts of three loss-making central banks and selected accounting entries for a br...

  12. Ultra High Brightness/Low Cost Fiber Coupled Packaging Project

    Data.gov (United States)

    National Aeronautics and Space Administration — The focus of the proposed effort is maximizing the brightness of fiber coupled laser diode pump sources at a minimum cost. The specific innovation proposed is to...

  13. A Low-Cost, High-Precision Navigator Project

    Data.gov (United States)

    National Aeronautics and Space Administration — Toyon Research Corporation proposes to develop and demonstrate a prototype low-cost precision navigation system using commercial-grade gyroscopes and accelerometers....

  14. A Low Cost High Specific Stiffness Mirror Substrate Project

    Data.gov (United States)

    National Aeronautics and Space Administration — The primary purpose of this proposal is to develop and demonstrate a new technology for manufacturing an ultra-low-cost precision optical telescope mirror which can...

  15. The Effect of Institutional Investors on Cost of Capital under the Investment Behavior Heterogeneity:An Evidence from China' s Capital Market%异质机构投资者持股对资本成本的影响研究——基于沪深 A 股上市公司的数据

    Institute of Scientific and Technical Information of China (English)

    霍晓萍

    2015-01-01

    Take A-share companies listed in the stock market in 2005~2012 as a sample, from the perspec-tive of investment behavior heterogeneity of institutional investors, the paper uses an Ordinary Least Squares regres-sion and the fixed effect model method to verify the effect of institutional investors on the cost of capital.The result from all samples is that institutional investors have a negative effect on cost of capital and they have played a posi-tive role in the listing corporate management.The results from sub-samples further show that institutional investors holding a large number of its shares can effectively reduce the cost of capital.Institutional investors holding a small number of its shares have a negative impact on corporate governance.Holding period of institutional investors has a significant effect on the decrease degree of cost of capital, and institutional investors with longer holding period can more effectively reduce the cost of capital and enhance the level of corporate governance.The paper makes a contri-bution to the institutional investors' role in corporate governance, and also casts a light on how to further promote the reform of China' s securities market.%基于机构投资者投资行为异质的视角,利用我国沪深A股上市公司2005~2012年的数据,运用多元回归和固定效应模型等方法,从机构投资者持股与否、持股高低和持股期限等多个方面实证检验机构投资者对上市公司资本成本的影响. 研究结果显示:机构投资者持股比例与资本成本之间显著负相关;持股比例较高时机构投资者能有效降低资本成本,提升上市公司治理水平;持股比例较低时机构投资者对公司治理产生负面影响,不利于改善公司治理水平;机构投资者的持股期限影响其降低资本成本的程度,持股期限越长,降低资本成本的作用越显著. 对机构投资者异质投资行为的研究为理解机构投资者的治理角色提供了新

  16. Measuring Social Capital in Hamilton, Ontario

    Science.gov (United States)

    Kitchen, Peter; Williams, Allison; Simone, Dylan

    2012-01-01

    Social capital has been studied by academics for more than 20 years and within the past decade there has been an explosion of growth in research linking social capital to health. This paper investigates social capital in Hamilton, Ontario by way of a telephone survey of 1,002 households in three neighbourhood groups representing high, mixed and…

  17. Measuring Social Capital in Hamilton, Ontario

    Science.gov (United States)

    Kitchen, Peter; Williams, Allison; Simone, Dylan

    2012-01-01

    Social capital has been studied by academics for more than 20 years and within the past decade there has been an explosion of growth in research linking social capital to health. This paper investigates social capital in Hamilton, Ontario by way of a telephone survey of 1,002 households in three neighbourhood groups representing high, mixed and…

  18. High flight costs, but low dive costs, in auks support the biomechanical hypothesis for flightlessness in penguins.

    Science.gov (United States)

    Elliott, Kyle H; Ricklefs, Robert E; Gaston, Anthony J; Hatch, Scott A; Speakman, John R; Davoren, Gail K

    2013-06-01

    Flight is a key adaptive trait. Despite its advantages, flight has been lost in several groups of birds, notably among seabirds, where flightlessness has evolved independently in at least five lineages. One hypothesis for the loss of flight among seabirds is that animals moving between different media face tradeoffs between maximizing function in one medium relative to the other. In particular, biomechanical models of energy costs during flying and diving suggest that a wing designed for optimal diving performance should lead to enormous energy costs when flying in air. Costs of flying and diving have been measured in free-living animals that use their wings to fly or to propel their dives, but not both. Animals that both fly and dive might approach the functional boundary between flight and nonflight. We show that flight costs for thick-billed murres (Uria lomvia), which are wing-propelled divers, and pelagic cormorants (Phalacrocorax pelagicus) (foot-propelled divers), are the highest recorded for vertebrates. Dive costs are high for cormorants and low for murres, but the latter are still higher than for flightless wing-propelled diving birds (penguins). For murres, flight costs were higher than predicted from biomechanical modeling, and the oxygen consumption rate during dives decreased with depth at a faster rate than estimated biomechanical costs. These results strongly support the hypothesis that function constrains form in diving birds, and that optimizing wing shape and form for wing-propelled diving leads to such high flight costs that flying ceases to be an option in larger wing-propelled diving seabirds, including penguins.

  19. Flexible Capitalism

    DEFF Research Database (Denmark)

    Approaching “work” as at heart a practice of exchange, this volume explores sociality in work environments marked by the kind of structural changes that have come to define contemporary “flexible” capitalism. It introduces anthropological exchange theory to a wider readership, and shows how...... the perspective offers new ways to enquire about the flexible capitalism’s social dimensions. The essays contribute to a trans-disciplinary scholarship on contemporary economic practice and change by documenting how, across diverse settings, “gift-like” socialities proliferate, and even sustain the intensified...

  20. ABC model and the management of costs

    Directory of Open Access Journals (Sweden)

    Pravdić Predrag

    2016-01-01

    Full Text Available When a company has multiple objectives at the same time, they all must be considered and balanced when making any business decisions. Linking the markets, capital and resources so as to thus ensure the highest yield is, In fact, the search for competitive advantage as a basic condition for survival in a market economy. In highly detailed systems based on the management of costs or ABC (activity based costing systems, the cost of activities often result in erroneous evaluation of aggregate costs of the action. Improvements in information technology and monitoring decrease of technology costs enabled the ABC system to become a feasible system calculating costs in many organizations.

  1. Life Cycle Cost Model for Very High Speed Integrated Circuits.

    Science.gov (United States)

    1984-09-01

    circuitry of the finished product level. ASD/ACCC has access to PRICE M on UNINET (30). 4. PRICE H (Programmed Review of Information for Costing and...AWAL/AAAS- 2) has successfully used PRICE H to analyze hardware acquisition costs. ASD/ACCC has access to PRICE H on UNINET ,-I" (13:1).• 5. PRICE L...ASD/ACCC has access to this model on UNINET (17:21). VHSIC Program Description As discussed earlier, LCC modeling includes all phases of a system’s

  2. Technical Evaluation Report 52: Audio/ Videoconferencing Packages: High cost

    Directory of Open Access Journals (Sweden)

    Urel Sawyers

    2005-11-01

    Full Text Available This report compares two integrated course delivery packages: Centra 6 and WebEx. Both applications feature asynchronous and synchronous audio communications for online education and training. They are relatively costly products, and provide useful comparisons with the two less expensive products to be evaluated in the following report #53. The criteria used in the current evaluation include capacity, interactivity features, integration with learning management systems, technical specifications, and cost. The report ends with a short analysis of the currently emerging audio-conferencing software, Google Talk.

  3. The high cost of free tuberculosis services: patient and household costs associated with tuberculosis care in Ebonyi State, Nigeria.

    Science.gov (United States)

    Ukwaja, Kingsley N; Alobu, Isaac; Lgwenyi, Chika; Hopewell, Philip C

    2013-01-01

    Poverty is both a cause and consequence of tuberculosis. The objective of this study is to quantify patient/household costs for an episode of tuberculosis (TB), its relationships with household impoverishment, and the strategies used to cope with the costs by TB patients in a resource-limited high TB/HIV setting. A cross-sectional study was conducted in three rural hospitals in southeast Nigeria. Consecutive adults with newly diagnosed pulmonary TB were interviewed to determine the costs each incurred in their care-seeking pathway using a standardised questionnaire. We defined direct costs as out-of-pocket payments, and indirect costs as lost income. Of 452 patients enrolled, majority were male 55% (249), and rural residents 79% (356), with a mean age of 34 (± 11.6) years. Median direct pre-diagnosis/diagnosis cost was $49 per patient. Median direct treatment cost was $36 per patient. Indirect pre-diagnostic and treatment costs were $416, or 79% of total patient costs, $528. The median total cost of TB care per household was $592; corresponding to 37% of median annual household income pre-TB. Most patients reported having to borrow money 212(47%), sell assets 42(9%), or both 144(32%) to cope with the cost of care. Following an episode of TB, household income reduced increasing the proportion of households classified as poor from 54% to 79%. Before TB illness, independent predictors of household poverty were; rural residence (adjusted odds ratio [aOR] 2.8), HIV-positive status (aOR 4.8), and care-seeking at a private facility (aOR 5.1). After TB care, independent determinants of household poverty were; younger age (≤ 35 years; aOR 2.4), male gender (aOR 2.1), and HIV-positive status (aOR 2.5). Patient and household costs for TB care are potentially catastrophic even where services are provided free-of-charge. There is an urgent need to implement strategies for TB care that are affordable for the poor.

  4. Does cultural capital really affect academic achievement?

    DEFF Research Database (Denmark)

    Jæger, Mads Meier

    2011-01-01

    This paper provides new estimates of the causal effect of cultural capital on academic achievement. The author analyzes data from the National Longitudinal Survey of Youth – Children and Young Adults and uses a fixed effect design to address the problem of omitted variable bias which has resulted...... cultural mobility theory (cultural capital more important in low-SES environments) for indicators capturing “concerted cultivation.”...... previously reported; and (3) the effect of cultural capital varies in high- and low-SES environments. Results mostly support cultural reproduction theory (cultural capital more important in high-SES environments) for cultural capital indicators capturing familiarity with legitimate culture and mostly support...

  5. The High Cost of Harsh Discipline and Its Disparate Impact

    Science.gov (United States)

    Rumberger, Russell W.; Losen, Daniel J.

    2016-01-01

    School suspension rates have been rising since the early 1970s, especially for children of color. One body of research has demonstrated that suspension from school is harmful to students, as it increases the risk of retention and school dropout. Another has demonstrated that school dropouts impose huge social costs on their states and localities,…

  6. Philosophy of design for low cost and high reliability

    DEFF Research Database (Denmark)

    Jørgensen, John Leif; Liebe, Carl Christian

    1996-01-01

    do extensive component testing and screening which addressed the issues of reliability, thermo-mechanical properties, and radiation sensitivity of the commercial IC's. The facility helped to control costs by generating early information on component survival in space. The development philosophy...... and system flexibility are addressed.KEY WORDS: Micro satellite, stellar compass, star tracker, attitude determination....

  7. Taxation and venture capital-backed entrepreneurship

    DEFF Research Database (Denmark)

    Keuschnigg, Christian; Nielsen, Søren Bo

    2003-01-01

    In recent years, venture capital has increasingly become a factor in thefinancing of new firms. We examine how the value of mature firms determinesthe incentives of entrepreneurs to start up new firms and of venture capitaliststo finance and advise them. We examine how capital gains taxes as well...... assubsidies to start-up costs of new firms affect venture capital-backedentrepreneurship. We also argue that dividend and capital gains taxes onmature firms have important consequences for start-up firms as well.JEL Classification: D82, G24, H24 and H25Keywords: double moral hazard, entrepreneurship, taxes...

  8. Social and Symbolic Capital in Firm Clusters

    DEFF Research Database (Denmark)

    Gretzinger, Susanne; Royer, Susanne

    Based on a relational perspective this paper analyses the case of the “Mechatronics Cluster” in Southern Jutland, Denmark. We found that cluster managers are not aware of the importance of social and symbolic capital. Cluster managers could have access to both but they are not aware...... of this resource and they don´t have any knowledge how to manage social and symbolic capital. Just to integrate social-capital-supporting initiatives in the day to day business would help to develop and to foster social and symbolic capital on a low cost level. And in our example just to integrate successful sub...

  9. Cost-Effectiveness Analysis in Practice: Interventions to Improve High School Completion

    Science.gov (United States)

    Hollands, Fiona; Bowden, A. Brooks; Belfield, Clive; Levin, Henry M.; Cheng, Henan; Shand, Robert; Pan, Yilin; Hanisch-Cerda, Barbara

    2014-01-01

    In this article, we perform cost-effectiveness analysis on interventions that improve the rate of high school completion. Using the What Works Clearinghouse to select effective interventions, we calculate cost-effectiveness ratios for five youth interventions. We document wide variation in cost-effectiveness ratios between programs and between…

  10. PENGEMBANGAN HUMAN CAPITAL DALAM KONTEKS MODAL SOSIAL

    Directory of Open Access Journals (Sweden)

    Widodo Widodo

    2017-03-01

    Full Text Available Rural Banks/BPR have a vitality and sustainability of business if they are able to create a unique advantagethat is superior in terms of customer information and business environment surrounding besides functioningas an intermediary institution. But in Semarang credit quality is still in the high risk level that is above themaximum limit of 5%. The condition is caused by the integration of human capital and social capital that isnot optimal. Therefore, this article aims to examine the model of human capital development so that it canimprove the performance of organization within the context of social capital. Retrieval method uses purposivesampling with 120 total samples. Later analysis technique uses Structural Equation Modelling (SEM throughthe group management data which is processed based on high and low social capital. The study shows that thecontext of high social capital moderates the structure of the equation that affects human capital on organizationalperformance

  11. Efficiency, new equity capital enable systems to compete.

    Science.gov (United States)

    Brown, M; McCool, B P

    1985-01-01

    Because of limited cash, sponsors of some community and religious hospitals have sought to sell or lease their institutions to a not-for-profit (NFP) system or to a for-profit system. A number of national alliances address the capital formation problem of NFP institutions. Until now they have been almost exclusively concerned with acquiring less costly debt. Without new equity capital, market influence is difficult to obtain. Even well-managed voluntary systems face a serious threat from well-capitalized investor-owned systems. Increased competition among hospitals and physicians will force future advantages to those who have capital. It will also restrict funding of certain programs and services by voluntary enterprises. In anticipation of this, various forms of partnerships have developed with investor-owned systems. To regain the initiative as the premier sponsors of health care, religious and other voluntary systems must go beyond merely competing in their markets to acquiring weaker institutions. They also must revitalize private giving and excel in efficiency to offset threats from ambulatory, day-care operations and from high-technology hospitals. Structural changes in the industry can be predicted, including the following: The trend toward integration for production, financing, and marketing will continue. Public market equity capital will be increasingly used to finance medical practice. Hospitals that sell their equity values will establish service foundations. National alliances will continue, but strictly local systems will maintain operation. Investor-owned systems will move increasingly into high-technology tertiary care.

  12. The variation of acute treatment costs of trauma in high-income countries

    Directory of Open Access Journals (Sweden)

    Willenberg Lynsey

    2012-08-01

    Full Text Available Abstract Background In order to assist health service planning, understanding factors that influence higher trauma treatment costs is essential. The majority of trauma costing research reports the cost of trauma from the perspective of the receiving hospital. There has been no comprehensive synthesis and little assessment of the drivers of cost variation, such as country, trauma, subgroups and methods. The aim of this review is to provide a synthesis of research reporting the trauma treatment costs and factors associated with higher treatment costs in high income countries. Methods A systematic search for articles relating to the cost of acute trauma care was performed and included studies reporting injury severity scores (ISS, per patient cost/charge estimates; and costing methods. Cost and charge values were indexed to 2011 cost equivalents and converted to US dollars using purchasing power parities. Results A total of twenty-seven studies were reviewed. Eighty-one percent of these studies were conducted in high income countries including USA, Australia, Europe and UK. Studies either reported a cost (74.1% or charge estimate (25.9% for the acute treatment of trauma. Across studies, the median per patient cost of acute trauma treatment was $22,448 (IQR: $11,819-$33,701. However, there was variability in costing methods used with 18% of studies providing comprehensive cost methods. Sixty-three percent of studies reported cost or charge items incorporated in their cost analysis and 52% reported items excluded in their analysis. In all publications reviewed, predictors of cost included Injury Severity Score (ISS, surgical intervention, hospital and intensive care, length of stay, polytrauma and age. Conclusion The acute treatment cost of trauma is higher than other disease groups. Research has been largely conducted in high income countries and variability exists in reporting costing methods as well as the actual costs. Patient populations studied

  13. Bottom-Up Cost Analysis of a High Concentration PV Module

    Energy Technology Data Exchange (ETDEWEB)

    Horowitz, Kelsey A. W.; Woodhouse, Michael; Lee, Hohyun; Smestad, Greg P.

    2016-03-31

    We present a bottom-up model of III-V multi-junction cells, as well as a high concentration PV (HCPV) module. We calculate $0.59/W(DC) manufacturing costs for our model HCPV module design with today's capabilities, and find that reducing cell costs and increasing module efficiency offer the most promising paths for future cost reductions. Cell costs could be significantly reduced via substrate reuse and improved manufacturing yields.

  14. Many Mobile Health Apps Target High-Need, High-Cost Populations, But Gaps Remain.

    Science.gov (United States)

    Singh, Karandeep; Drouin, Kaitlin; Newmark, Lisa P; Lee, JaeHo; Faxvaag, Arild; Rozenblum, Ronen; Pabo, Erika A; Landman, Adam; Klinger, Elissa; Bates, David W

    2016-12-01

    With rising smartphone ownership, mobile health applications (mHealth apps) have the potential to support high-need, high-cost populations in managing their health. While the number of available mHealth apps has grown substantially, no clear strategy has emerged on how providers should evaluate and recommend such apps to patients. Key stakeholders, including medical professional societies, insurers, and policy makers, have largely avoided formally recommending apps, which forces patients to obtain recommendations from other sources. To help stakeholders overcome barriers to reviewing and recommending apps, we evaluated 137 patient-facing mHealth apps-those intended for use by patients to manage their health-that were highly rated by consumers and recommended by experts and that targeted high-need, high-cost populations. We found that there is a wide variety of apps in the marketplace but that few apps address the needs of the patients who could benefit the most. We also found that consumers' ratings were poor indications of apps' clinical utility or usability and that most apps did not respond appropriately when a user entered potentially dangerous health information. Going forward, data privacy and security will continue to be major concerns in the dissemination of mHealth apps. Project HOPE—The People-to-People Health Foundation, Inc.

  15. The Role of Parental Language Acculturation in the Formation of Social Capital: Differential Effects on High-Risk Children

    Science.gov (United States)

    Valdez, Carmen R.; Mills, Monique T.; Bohlig, Amanda J.; Kaplan, David

    2013-01-01

    This person-centered study examines the extent to which parents' language dominance influences the effects of an after school, multi-family group intervention, FAST, on low-income children's emotional and behavioral outcomes via parents' relations with other parents and with school staff. Social capital resides in relationships of trust and shared…

  16. Why the Boys Are Missing: Using Social Capital to Explain Gender Differences in College Enrollment for Public High School Students

    Science.gov (United States)

    Klevan, Sarah; Weinberg, Sharon L.; Middleton, Joel A.

    2016-01-01

    In 1960, over 60 % of bachelor degrees were awarded to men. However, the rate of women's college completion has steadily risen and, by 2004, women received nearly 60 % of bachelor degrees. Drawing on the theoretical contributions of James Coleman, this paper examines the ability of social capital to explain observed differences in college…

  17. Selling Knowledge? R&D Soothsayers and High Priests of Venture Capital Are in the Temple of the Academy.

    Science.gov (United States)

    Earls, Alan Robert

    2001-01-01

    Discusses the commercialization of academic research at New England's colleges and universities. Describes the origins of the trend, the region's leadership in research funding, the role of venture capital and business incubators in academic research, and the long-term impacts. Includes tables of research and development spending and patents…

  18. Education and Health in Late-Life among High School Graduates: Cognitive versus Psychological Aspects of Human Capital

    Science.gov (United States)

    Herd, Pamela

    2010-01-01

    Just as postsecondary schooling serves as a dividing line between the advantaged and disadvantaged on outcomes like income and marital status, it also serves as a dividing line between the healthy and unhealthy. Why are the better educated healthier? Human capital theory posits that education makes one healthier via cognitive (skill improvements)…

  19. Education and Health in Late-Life among High School Graduates: Cognitive versus Psychological Aspects of Human Capital

    Science.gov (United States)

    Herd, Pamela

    2010-01-01

    Just as postsecondary schooling serves as a dividing line between the advantaged and disadvantaged on outcomes like income and marital status, it also serves as a dividing line between the healthy and unhealthy. Why are the better educated healthier? Human capital theory posits that education makes one healthier via cognitive (skill improvements)…

  20. Flexible Capitalism

    DEFF Research Database (Denmark)

    Approaching “work” as at heart a practice of exchange, this volume explores sociality in work environments marked by the kind of structural changes that have come to define contemporary “flexible” capitalism. It introduces anthropological exchange theory to a wider readership, and shows how...... the perspective offers new ways to enquire about the flexible capitalism’s social dimensions. The essays contribute to a trans-disciplinary scholarship on contemporary economic practice and change by documenting how, across diverse settings, “gift-like” socialities proliferate, and even sustain the intensified...... flexible commoditization that more commonly is touted as tearing social relations apart. By interrogating a keenly debated contemporary work regime through an approach to sociality rooted in a rich and distinct anthropological legacy, the volume also makes a novel contribution to the anthropological...

  1. Mengukur Kontribusi Human Capital terhadap Tujuan Perusahaan

    Directory of Open Access Journals (Sweden)

    Brata Wibawa Djojo

    2010-11-01

    Full Text Available Human capital is a valuable asset of any company, especially for competent human resources and contributes both to the company. The performance evaluation given to employees annually can be defined and standardized by the company. However, the question is how big the contribution of human resources to sales and profit contribution is. Case studies take data from one branch of a general insurance company in Indonesia, Jakarta branch. Measurement is done by taking samples of data from 2007, 2008, and 2009. The study measures the risk of several components: (i Human Capital Revenue Factor, (ii Human Economic Value Added, (iii Human Capital Cost Factor, (iv Human Capital Value Added, and (v Human Capital Return on Investment. Results of research can provide guidelines for the management, especially for management of JLI in view of Human Capital contribution to corporate objectives, namely in terms of staffing and agency. 

  2. Organizational Capital of the Enterprise

    Directory of Open Access Journals (Sweden)

    Vladimir Nikiforovich Belkin

    2016-09-01

    Full Text Available In the article, the main theoretical questions of the organizational capital of the enterprise are considered. The concept of «organizational capital of the enterprise» as a system consisting of three subsystems (organization of production, labour organization and management is introduced. It is shown that the organizational capital forms the labour relations system at the enterprise consisting of the cooperation, technological, economic, moral labour relations and the relations of workers’ responsibility. The model of cyclic evolution of crisis at the enterprise caused by shortcomings of the organizational capital is revealed. It is shown that the organizational capital is a basis for the realization of the human capital, which creates value added. A considerable attention is paid to the experience of the creation and functioning of the organizational capital at the enterprises of the Japanese corporation «Toyota». The Russian economic literature on crisis management quite often considers only the financial aspects of diagnostics, proposing the optimization of cash flows, elimination of excess stocks, transition to the medium-term budgeting and others. However, the deep reasons of crisis need to be found not only in financial streams, but also in the system of the work relationships. The shortcomings in the development of technological, cooperation, economic, moral labour relations and the relations of responsibility directly reflects the shortcomings in the development of the elements of the organizational capital as they «are adjusted» by these elements. In turn, organizational problems affect the product quality leading to the customer attrition and decrease in the enterprise’s financial performance. The lack of financial resources cause the need to save costs (first of all, on personnel, that was brightly shown by the economic crisis of 2009 that even more weakens the enterprise and system of labour relations. Finally, the

  3. 76 FR 42141 - HighMark Funds and HighMark Capital Management, Inc.; Notice of Application

    Science.gov (United States)

    2011-07-18

    ... applicants, in the form of an affidavit or, for lawyers, a certificate of service. Hearing requests should.../search.htm or by calling (202) 551-8090. Applicants' Representations 1. HighMark Funds is a registered... substantially equivalent to the role of the individual portfolio managers employed by traditional...

  4. How venture capital works.

    Science.gov (United States)

    Zider, B

    1998-01-01

    The popular mythology surrounding the U.S. venture-capital industry derives from a previous era. Venture capitalists who nurtured the computer industry in its infancy were legendary both for their risk taking and for their hands-on operating experience. But today things are different, and separating the myths from the realities is crucial to understanding this important piece of the U.S. economy. Today's venture capitalists are more like conservative bankers than the risk takers of days past. They have carved out a specialized niche in the capital markets, filling a void that other institutions cannot serve. They are the linch-pins in an efficient system for meeting the needs of institutional investors looking for high returns, of entrepreneurs seeking funding, and of investment bankers looking for companies to sell. Venture capitalists must earn a consistently superior return on investments in inherently risky businesses. The myth is that they do so by investing in good ideas and good plans. In reality, they invest in good industries--that is, industries that are more competitively forgiving than the market as a whole. And they structure their deals in a way that minimizes their risk and maximizes their returns. Although many entrepreneurs expect venture capitalists to provide them with sage guidance as well as capital, that expectation is unrealistic. Given a typical portfolio of ten companies and a 2,000-hour work year, a venture capital partner spends on average less than two hours per week on any given company. In addition to analyzing the current venture-capital system, the author offers practical advice to entrepreneurs thinking about venture funding.

  5. The Empirical Study on Capital Structure of High-tech Manufacturing%我国高新制造业上市公司的资本结构

    Institute of Scientific and Technical Information of China (English)

    余思佳

    2016-01-01

    The study taking 70 listed companies as samples to analyze the capital structure of aHigh -tech man‐ufacturing .The study knows the funds mostly comes from the country's fiscal subside in High -tech manufactur‐ing .The capital structure is unreasonable .The study put forward some suggestions to improve this situation :First of all ,to expand the industry financing channels ,financing diversification ;Second ,improve industry debt struc‐ture ,improve corporate profitability ;Third ,establish and perfect the capital market.%文章以70家A股主板上市的高新制造业企业数据样本为基础,分析高新制造业行业资本结构。研究发现,高新制造业企业资金多源于国家财政补贴,且流动负债水平偏高,其资本结构仍有较大优化空间,应拓宽行业企业融资渠道,实现融资多样化;改善行业负债结构,提高企业盈利能力;建立健全资本市场机制。

  6. Challenges of Research and Human Capital Development in Nigeria

    Science.gov (United States)

    Chikwe, Christian K.; Ogidi, Reuben C.; Nwachukwu, K.

    2015-01-01

    The paper discussed the challenges of research and human capital development in Nigeria. Research and human capital development are critical to the development of any nation. Research facilitates human capital development. A high rating in human capital development indices places a country among the leading countries of the world. The paper…

  7. 新准则借款费用资本化会计处理的思考%Some Issues About Capitalization of Borrowing Costs Under New Standards

    Institute of Scientific and Technical Information of China (English)

    叶丹

    2012-01-01

    The Enterprise Accounting Standards,which was issued in February 2006,completed the borrowing costs and formulated the Enterprise Accounting Standards No. 17 - Borrowing Costs,which had a greater impact on corporate accounting. This article,based on the relevant provisions under the new borrowing cost standards,simply analyzed the changes between the old and new standards and the problems in the implementation process of new borrowing cost standards,and then came up with some suggestions on how to improve the borrowing costs guidelines.%财政部颁布的《企业会计准则》对借款费用部分进行了修整,制定了《企业会计准则第17号——借款费用》,这对企业的会计核算产生了较大影响。文章立足新《借款费用准则》中的相关规定,简单分析了新旧准则的变化,对新《借款费用准则》在执行过程中所存在的问题进行的分析,进而就如何完善《借款费用准则》提出了相应的建议。

  8. Parents' socioeconomic factors related to high antibiotic prescribing in primary health care among children aged 0-6 years in the Capital Region of Denmark.

    Science.gov (United States)

    Jensen, Jette Nygaard; Bjerrum, Lars; Boel, Jonas; Jarløv, Jens Otto; Arpi, Magnus

    2016-09-01

    To investigate the distribution of antibiotic prescriptions in primary health care among children aged 0-6 years and its association with socioeconomic factors. A cross-sectional study describing antibiotic prescriptions and socioeconomic factors, using different population-based registers from Statistics Denmark. Antibiotic prescriptions in 2012 from primary health care in the Capital Region of Denmark. The population of children aged 0-6 years (n = 139,398) in the Capital Region of Denmark. High use of antibiotics identified by number of antibiotic prescriptions (≥ 3 prescriptions per year) and defined daily doses (DDD). A multinomial logistic regression analysis estimating the association between high antibiotic use and parents' education, employment status, income, child's sex, and ethnic background. Ten percent of children accounted for 25% of the total use DDD. There was a clear tendency that the risk for high antibiotic use increased as parental educational level decreased. The risk for high use was the highest among children of mothers and fathers with basic schooling ≤10 years (OR 1.60, 95% CI 1.29-1.98, and OR 1.60, 95% CI 1.34-1.91, respectively). Low income and unemployment were not associated with high antibiotic use. Socioeconomic factors can only partially explain differences in antibiotic use. Further research is needed to clarify the unequal distribution of antibiotic prescribing and the association between high antibiotic use and low educational level. This would provide valuable information in the planning of strategies to promote rational use of antibiotics among children. KEY POINTS The Capital Region of Denmark has the highest rate of antibiotic prescribing in Denmark. Preschool children are among the age groups with the highest use. Ten percent of the children accounted for 25% of the total antibiotic use. Low parental educational level was associated with increased antibiotic use. Parents' income or employment status was not found

  9. 42 CFR 412.86 - Payment for extraordinarily high-cost day outliers.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 2 2010-10-01 2010-10-01 false Payment for extraordinarily high-cost day outliers... Outlier Cases, Special Treatment Payment for New Technology, and Payment Adjustment for Certain Replaced Devices Payment for Outlier Cases § 412.86 Payment for extraordinarily high-cost day outliers. For...

  10. Oregon's High School Dropouts: Examining the Economic and Social Costs. Research Brief

    Science.gov (United States)

    Foundation for Educational Choice, 2010

    2010-01-01

    The Foundation for Educational Choice recently commissioned a new study to examine the economic and social costs of Oregon's high school dropouts. Emily House, the study's author, analyzed how dropouts in the state dramatically impact state finances through reduced tax revenues, increased Medicaid costs, and high incarceration rates. House's study…

  11. Free Trade and Tariffs: Level III, Unit 2, Lesson 1; Capitalism, Communism, Socialism: Lesson 2; Nationalism vs. Internationalism: Lesson 3. Advanced General Education Program. A High School Self-Study Program.

    Science.gov (United States)

    Manpower Administration (DOL), Washington, DC. Job Corps.

    This self-study program for high-school level contains lessons on: Free Trade and Tariffs; Capitalism, Communism, Socialism; and Nationalism vs. Internationalism. Each of the lessons concludes with a Mastery Test to be completed by the student. (DB)

  12. Splendid Arts Fram Ancient Capitals

    Institute of Scientific and Technical Information of China (English)

    1998-01-01

    IT was in the golden autumn in Beijing, when the sky was high and the air clear, that I hurried to Zhongshan Park to witness the display of the songs and dances of the seven Chinese ancient capitals. The flower beds arranged for the celebration of National Day were still there and the colorful blooms looked especially bright in the sunshine. The seven cities which have served as capitals in Chinese history are Beijing,

  13. Low Cost High Performance Nanostructured Spectrally Selective Coating

    Energy Technology Data Exchange (ETDEWEB)

    Jin, Sungho [Univ. of California, San Diego, CA (United States)

    2017-04-05

    Sunlight absorbing coating is a key enabling technology to achieve high-temperature high-efficiency concentrating solar power operation. A high-performance solar absorbing material must simultaneously meet all the following three stringent requirements: high thermal efficiency (usually measured by figure of merit), high-temperature durability, and oxidation resistance. The objective of this research is to employ a highly scalable process to fabricate and coat black oxide nanoparticles onto solar absorber surface to achieve ultra-high thermal efficiency. Black oxide nanoparticles have been synthesized using a facile process and coated onto absorber metal surface. The material composition, size distribution and morphology of the nanoparticle are guided by numeric modeling. Optical and thermal properties have been both modeled and measured. High temperature durability has been achieved by using nanocomposites and high temperature annealing. Mechanical durability on thermal cycling have also been investigated and optimized. This technology is promising for commercial applications in next-generation high-temperature concentration solar power (CSP) plants.

  14. Inequality in Human Capital and Endogenous Credit Constraints.

    Science.gov (United States)

    Hai, Rong; Heckman, James J

    2017-04-01

    This paper investigates the determinants of inequality in human capital with an emphasis on the role of the credit constraints. We develop and estimate a model in which individuals face uninsured human capital risks and invest in education, acquire work experience, accumulate assets and smooth consumption. Agents can borrow from the private lending market and from government student loan programs. The private market credit limit is explicitly derived by extending the natural borrowing limit of Aiyagari (1994) to incorporate endogenous labor supply, human capital accumulation, psychic costs of working, and age. We quantify the effects of cognitive ability, noncognitive ability, parental education, and parental wealth on educational attainment, wages, and consumption. We conduct counterfactual experiments with respect to tuition subsidies and enhanced student loan limits and evaluate their effects on educational attainment and inequality. We compare the performance of our model with an influential ad hoc model in the literature with education-specific fixed loan limits. We find evidence of substantial life cycle credit constraints that affect human capital accumulation and inequality. The constrained fall into two groups: those who are permanently poor over their lifetimes and a group of well-endowed individuals with rising high levels of acquired skills who are constrained early in their life cycles. Equalizing cognitive and noncognitive ability has dramatic effects on inequality. Equalizing parental backgrounds has much weaker effects. Tuition costs have weak effects on inequality.

  15. Cost evaluation of a DSN high level real-time language

    Science.gov (United States)

    Mckenzie, M.

    1977-01-01

    The hypothesis that the implementation of a DSN High Level Real Time Language will reduce real time software expenditures is explored. The High Level Real Time Language is found to be both affordable and cost-effective.

  16. Financing Human Capital: Families & Society

    Directory of Open Access Journals (Sweden)

    Neantro Saavedra-Rivano

    2016-10-01

    Full Text Available The Organization for Economic Cooperation and Development (OECD describes human capital as “knowledge, skills, competencies and attributes embodied in individuals that facilitate the creation of personal, social and economic wellbeing.”* It follows from this interpretation that investment in human capital includes the sum of all costs that allow a new being to reach economic autonomy. In this paper we analyze the family and social dimensions of human capital and discuss how decisions on human capital formation are taken and how its associated costs are shared. The discussion leads us to identify an important paradox underlying human capital formation, namely the fact that while families are its main contributors the benefits of such investment go primarily to society as a whole. This paradox and its consequences are central to two very important current issues. The first issue, one that is common to many developed countries, is low female fertility which is the source, in particular, of population aging. The second issue, affecting chiefly developing countries, is the inequality of opportunities, a problem lying at the root of underdevelopment. Two options are discussed to respond to this dilemma, one based on redistributive programs and another on market solutions. The paper discusses the limits inherent to redistributive programs and goes on to present at length the alternative market solution. In a nutshell this consists of securitizing the human capital of individuals so as to finance the expenses leading to their upbringing, from birth to adulthood. In addition to describing this scheme the paper analyzes its advantages as well as the difficulties associated with its implementation. It concludes by exploring possible interpretations of the scheme and feasible routes for its adoption.

  17. Emerging Forms of Cultural Capital

    DEFF Research Database (Denmark)

    Prieur, Annick; Savage, Mike

    - the claims that there are forms of emotional, subcultural or national cultural capital at work - The claim about cosmopolitanism or an international orientation as a distinctive feature of the culturally privileged classes The paper responds to the first theme announced in the call for this conference......This paper reviews recent European studies to assess whether cultural capital now has the same characteristics – or may be rather the same functions - as when Distinction was written. The paper will examine empirical applications of the concept of cultural capital in leading European studies...... – and hence are highly appropriate for direct comparisons with that study. This paper will begin by raising general issues regarding the meaning of the concept, and about how one may make assessments and claims about cultural capital. Here we consider how the legitimacy of certain cultural competencies...

  18. Venture capitalism at the Veterans Administration.

    Science.gov (United States)

    Andries, G H

    1986-01-01

    This article outlines the implementation of a venture capitalism program in a 519-bed Veterans Administration tertiary care medical center. Venture capitalism at the VA West Side Medical Center in Chicago, Illinois is realized through a pool of capital within the budget, for the trial implementation of various ideas and programs that demonstrate a potential to reduce costs or increase revenues. Through this adaptation of venture capitalism, the principles of entrepreneurship can be applied. Employees submit a proposal to management that describes what they wish to accomplish. The proposal includes the time schedule required for implementation and how much capital will be needed to make the proposal operational. If the proposal is successful and becomes self-sufficient, the original venture capital is returned to the pool and used for other ventures. If the proposal does not meet expectations, support is withdrawn and the remaining capital is returned to the venture capital pool. In conclusion, several successful ventures are described to demonstrate the practicality of using the concepts of entrepreneurship and venture capitalism within the budget constraints of the federal government.

  19. 产权性质、债务融资成本与资本结构%Ownership Type,Debt Financing Cost and Capital Structure

    Institute of Scientific and Technical Information of China (English)

    于欢

    2015-01-01

    From the perspective of the debt financing cost impact on the debt ratio,this paper investigates financing discrimination on listed private corporation. It finds that the way that debt financing cost influent on the debt ratio is U-shaped,and the influence between state-owned and private listed corporation have significant differences. The pri-vate listed corporations have lower inflection point than the state-owned listed corporations. When the debt financing cost and debt rate is negative,the leverage of private listed corporation changes in response to debt financing cost more than the state-owned listed corporation.%经济结构的转型升级是我国经济的重要任务,而金融资源分配不合理成为重要的阻碍因素,民营企业面临的信贷歧视就是这种不合理的重要体现。从债务融资成本对负债率影响的角度研究民营上市公司的信贷歧视问题,发现债务融资成本对负债率的影响呈U型,且这种影响在国有和民营上市公司之间有显著差异。表现在民营上市公司比国有上市公司有更低的U型关系拐点,当债务融资成本与负债率负相关时,民营上市公司负债率对债务融资成本变化的反应小于国有上市公司。

  20. Capital Income and Income Inequality: Evidence from Urban China

    OpenAIRE

    Chi, Wei

    2011-01-01

    Using urban household survey data collected by National Bureau of Statistics of China from 1988-2009, this study examines the distribution, composition, and changes of capital income and its contribution to income inequality. The data shows that capital income has increased considerably in past 20 years in urban China. Although the average value of capital income is still relatively low, the dispersion of capital income is significant, and for high-income earners capital income is substantial...

  1. STUDY ON INCREASING THE SHARE CAPITAL BY NEW CONTRIBUTIONS IN CASH AND IN KIND

    Directory of Open Access Journals (Sweden)

    CARUNTU GENU ALEXANDRU

    2016-06-01

    Full Text Available Selecting the means, techniques and financing tools is the correct expression of a financial policy placement. Essentially, the financial policy consists in determining the weight that equity and borrowed capitals have and must have into the company resources, taking into account their actual cost. It is envisaged the high share of capital in total equity, which represents long term resources in company’s activity and which knows more ways to move over time. The share capital is equal to the nominal value of inscriptions or shares, respectively the value of the contribution in kind or in cash mentioned in the memorandum. Over the life of the company's existence, the share capital may increase by new contributions, by incorporation of reserves and by debt conversion of the company, respectively of the claims that creditors have on it

  2. Outcomes of high-risk obstetric transfers in New South Wales and the Australian Capital Territory: The High-Risk Obstetric Transfer Study.

    Science.gov (United States)

    Goh, Amy; Browning Carmo, Kathryn; Morris, Jonathan; Berry, Andrew; Wall, Margaret; Abdel-Latif, Mohamed

    2015-10-01

    In New South Wales and the Australian Capital Territory, in utero transfers to manage maternal or neonatal risks are highly challenging owing to geography and centralisation of tertiary perinatal care. The study aims to document the outcomes of high-risk obstetric transfers. A prospective observational study was conducted from 2010 to 2011 documenting urgent requests for obstetric transfers to tertiary centres across NSW/ACT for pregnancies 20 weeks' gestation or greater. Outcomes of transfers were allocated apriori to 'delivered at the receiving hospital', 'failed/delayed transfer' or 'discharged/transferred undelivered'. Our hypothesis is that each outcome has a specific group of associated clinical factors. Of the 249 transfer requests included in the study, 40% delivered at the receiving hospital, 7% were failed/delayed transfers, and 45% were discharged/transferred undelivered. Cases delivering at the receiving hospital were significantly associated with older mothers, twin pregnancies, pregnancy induced hypertension (PIH) or premature rupture of membranes (PROM) with/without threatened preterm labour (TPL) as the indications for transfer and having three indications for transfer. Cases that were discharged/transferred undelivered were significantly associated with singleton pregnancies, TPL and/or antepartum haemorrhage (APH) as the indication for transfer and having one indication for transfer. There were no significantly associated factors for failed/delayed transfers. The study confirms the hypothesis that particular transfer outcomes are associated with different factors. The findings also show that less than half of urgent obstetric transfers result in delivery at the receiving hospital, suggesting that there exists significant opportunities for further research into predicting preterm delivery, thereby improving the care of women with high-risk pregnancies. © 2015 The Royal Australian and New Zealand College of Obstetricians and Gynaecologists.

  3. Working Capital Management as a routine: An action based access to the topic

    Directory of Open Access Journals (Sweden)

    Petra Kroflin

    2015-10-01

    Full Text Available In times of unstable capital markets on the one side and historically low interests on the other, working capital management must be discussed from different perspectives. Limited sources of liquidity, and the high refinancing risk of lending companies, make the reduction of current assets and liabilities an even more important management task than before. On the other hand, low interest rates raise the need for defining the optimum level for working capital. Little research and empirical evidence exists when it comes to lifting working capital targets to create value. The objective of the present paper is to give evidence on whether German companies adapt their behavior in terms of handling working capital in the actual economic environment and to describe which practices have been established to perform this adaptation. The given analysis is based on a qualitative study. The data used have been gathered in 2014 and 2015 during semi structured interviews with CFOs or financial executives of 15 German and Austrian industrial firms. Our study suggests that adaptation is realized rather by moderating management attention and focus to the topic of capital cost but not by adjusting the financial targets themselves. This is because working capital reduction as become a management routine.

  4. DIPSY, a low-cost GPS application with high accuracy

    NARCIS (Netherlands)

    Heijden, W.F.M. van der

    1998-01-01

    To improve the control of unmanned aircraft flying out of visual range, the controller needs to be provided with realtime information about the position and behaviour of the drone during the flight. The position of the drone has to be presented with a relative high accuracy to obtain accurate flight

  5. Low cost, formable, high T(sub c) superconducting wire

    Science.gov (United States)

    Smialek, James L. (Inventor)

    1991-01-01

    A ceramic superconductivity part such as a wire is produced through the partial oxidation of a specially formulated copper alloy in the core. The alloys contain low level quantities of rare earth and alkaline earth dopant elements. Upon oxidation at high temperature, superconducting oxide phases are formed as a thin film.

  6. DIPSY, a low-cost GPS application with high accuracy

    NARCIS (Netherlands)

    Heijden, W.F.M. van der

    1999-01-01

    To improve the control of unmanned aircraft flying out of visual range, the controller needs to be provided with real-time information about the position and behaviour of the drone during the flight. The position of the drone has to be presented with a relative high accuracy to obtain accurate lligh

  7. Calculus in High School--At What Cost?

    Science.gov (United States)

    Sorge, D. H.; Wheatley, G. H.

    1977-01-01

    Evidence on the decline in preparation of entering calculus students and the relationship to high school preparation is presented, focusing on the trend toward the de-emphasis of trigonometry and analytic geometry in favor of calculus. Data on students' perception of the adequacy of their preparation are also presented. (Author/MN)

  8. Low cost routes to high purity silicon and derivatives thereof

    Energy Technology Data Exchange (ETDEWEB)

    Laine, Richard M; Krug, David James; Marchal, Julien Claudius; Mccolm, Andrew Stewart

    2013-07-02

    The present invention is directed to a method for providing an agricultural waste product having amorphous silica, carbon, and impurities; extracting from the agricultural waste product an amount of the impurities; changing the ratio of carbon to silica; and reducing the silica to a high purity silicon (e.g., to photovoltaic silicon).

  9. Low-Cost, High-Performance Analog Optical Links

    Science.gov (United States)

    2006-12-01

    5. BBR monolithic or integrated hybrid (long term solution, higher-risk, high-payoff implementation) Theoretical analysis of BBR We...85 BBR – integrated hybrid ................................................................................................... 90 BBR...for the DBR laser. ................................................ 12 Figure 11. Adiabatic chirp of the master-slave DBR laser (with left plot) and

  10. DIPSY, a low-cost GPS application with high accuracy

    NARCIS (Netherlands)

    Heijden, W.F.M. van der

    1999-01-01

    To improve the control of unmanned aircraft flying out of visual range, the controller needs to be provided with real-time information about the position and behaviour of the drone during the flight. The position of the drone has to be presented with a relative high accuracy to obtain accurate lligh

  11. DIPSY, a low-cost GPS application with high accuracy

    NARCIS (Netherlands)

    Heijden, W.F.M. van der

    1998-01-01

    To improve the control of unmanned aircraft flying out of visual range, the controller needs to be provided with realtime information about the position and behaviour of the drone during the flight. The position of the drone has to be presented with a relative high accuracy to obtain accurate flight

  12. How to Fight the High Cost of Curricular Glut

    Science.gov (United States)

    Bugeja, Michael

    2008-01-01

    Curriculum management is at the source of issues consuming academics, including high tuition, low adjunct pay, shared governance, graduate education, academic calendars, and budgetary models. The issue has the most impact at Ph.D.-granting public universities, but any institution can benefit from analyzing the source of poorly managed pedagogy,…

  13. DIPSY, a low-cost GPS application with high accuracy

    NARCIS (Netherlands)

    Heijden, W.F.M. van der

    1999-01-01

    To improve the control of unmanned aircraft flying out of visual range, the controller needs to be provided with real-time information about the position and behaviour of the drone during the flight. The position of the drone has to be presented with a relative high accuracy to obtain accurate

  14. Low Cost, High Capacity Regenerable Sorbent for Carbon Dioxide Capture from Existing Coal-fired Power Plants

    Energy Technology Data Exchange (ETDEWEB)

    Alptekin, Gokhan [TDA Research, Inc., Wheat Ridge, CO (United States); Jayaraman, Ambalavanan [TDA Research, Inc., Wheat Ridge, CO (United States); Dietz, Steven [TDA Research, Inc., Wheat Ridge, CO (United States)

    2016-03-03

    In this project TDA Research, Inc (TDA) has developed a new post combustion carbon capture technology based on a vacuum swing adsorption system that uses a steam purge and demonstrated its technical feasibility and economic viability in laboratory-scale tests and tests in actual coal derived flue gas. TDA uses an advanced physical adsorbent to selectively remove CO2 from the flue gas. The sorbent exhibits a much higher affinity for CO2 than N2, H2O or O2, enabling effective CO2 separation from the flue gas. We also carried out a detailed process design and analysis of the new system as part of both sub-critical and super-critical pulverized coal fired power plants. The new technology uses a low cost, high capacity adsorbent that selectively removes CO2 in the presence of moisture at the flue gas temperature without a need for significant cooling of the flue gas or moisture removal. The sorbent is based on a TDA proprietary mesoporous carbon that consists of surface functionalized groups that remove CO2 via physical adsorption. The high surface area and favorable porosity of the sorbent also provides a unique platform to introduce additional functionality, such as active groups to remove trace metals (e.g., Hg, As). In collaboration with the Advanced Power and Energy Program of the University of California, Irvine (UCI), TDA developed system simulation models using Aspen PlusTM simulation software to assess the economic viability of TDA’s VSA-based post-combustion carbon capture technology. The levelized cost of electricity including the TS&M costs for CO2 is calculated as $116.71/MWh and $113.76/MWh for TDA system integrated with sub-critical and super-critical pulverized coal fired power plants; much lower than the $153.03/MWhand $147.44/MWh calculated for the corresponding amine based systems. The cost of CO2 captured for TDA’s VSA based system is $38

  15. A Human Capital Theory of Growth: New Evidence for an Old Idea

    OpenAIRE

    Theodore R. Breton

    2014-01-01

    In 1960 Theodore Schultz expounded a human capital theory of economic growth that includes three elements: 1) Countries without much human capital cannot manage physical capital effectively, 2) Economic growth can only proceed if physical capital and human capital rise together, and 3) Human capital is the factor most likely to limit growth. I specify Schultz’s theory mathematically and test it in periods when global financial capital was highly mobile. I find that in 1870, 1910, and 2000, th...

  16. High energy density capacitors for low cost applications

    Science.gov (United States)

    Iyore, Omokhodion David

    Polyvinylidene fluoride (PVDF) and its copolymers with trifluoroethylene, hexafluoropropylene and chlorotrifluoroethylene are the most widely investigated ferroelectric polymers, due to their relatively high electromechanical properties and potential to achieve high energy density. [Bauer, 2010; Zhou et al., 2009] The research community has focused primarily on melt pressed or extruded films of PVDF-based polymers to obtain the highest performance with energy density up to 25 Jcm-3. [Zhou et al., 2009] Solution processing offers an inexpensive, low temperature alternative, which is also easily integrated with flexible electronics. This dissertation focuses on the fabrication of solution-based polyvinylidene fluoride-hexafluoropropylene metal-insulator-metal capacitors on flexible substrates using a photolithographic process. Capacitors were optimized for maximum energy density, high dielectric strength and low leakage current density. It is demonstrated that with the right choice of solvent, electrodes, spin-casting and annealing conditions, high energy density thin film capacitors can be fabricated repeatably and reproducibly. The high electric field dielectric constants were measured and the reliabilities of the polymer capacitors were also evaluated via time-zero breakdown and time-dependent breakdown techniques. Chapter 1 develops the motivation for this work and provides a theoretical overview of dielectric materials, polarization, leakage current and dielectric breakdown. Chapter 2 is a literature review of polymer-based high energy density dielectrics and covers ferroelectric polymers, highlighting PVDF and some of its derivatives. Chapter 3 summarizes some preliminary experimental work and presents materials and electrical characterization that support the rationale for materials selection and process development. Chapter 4 discusses the fabrication of solution-processed PVDF-HFP and modification of its properties by photo-crosslinking. It is followed by a

  17. Data of cost-optimality and technical solutions for high energy performance buildings in warm climate.

    Science.gov (United States)

    Zacà, Ilaria; D'Agostino, Delia; Maria Congedo, Paolo; Baglivo, Cristina

    2015-09-01

    The data reported in this article refers to input and output information related to the research articles entitled Assessment of cost-optimality and technical solutions in high performance multi-residential buildings in the Mediterranean area by Zacà et al. (Assessment of cost-optimality and technical solutions in high performance multi-residential buildings in the Mediterranean area, in press.) and related to the research article Cost-optimal analysis and technical comparison between standard and high efficient mono residential buildings in a warm climate by Baglivo et al. (Energy, 2015, 10.1016/j.energy.2015.02.062, in press).

  18. The Optimal Capital Structure of Banks: Balancing Deposit Insurance, Capital Requirements and Tax-Advantaged Debt

    OpenAIRE

    John P. Harding; Xiaozhing Liang; Stephen L. Ross

    2007-01-01

    The capital structure and regulation of financial intermediaries is an important topic for practitioners, regulators and academic researchers. In general, theory predicts that firms choose their capital structures by balancing the benefits of debt (e.g., tax and agency benefits) against its costs (e.g., bankruptcy costs). However, when traditional corporate finance models have been applied to insured financial institutions, the results have generally predicted corner solutions (all equity or ...

  19. Approaches of Russian oil companies to optimal capital structure

    Science.gov (United States)

    Ishuk, T.; Ulyanova, O.; Savchitz, V.

    2015-11-01

    Oil companies play a vital role in Russian economy. Demand for hydrocarbon products will be increasing for the nearest decades simultaneously with the population growth and social needs. Change of raw-material orientation of Russian economy and the transition to the innovative way of the development do not exclude the development of oil industry in future. Moreover, society believes that this sector must bring the Russian economy on to the road of innovative development due to neo-industrialization. To achieve this, the government power as well as capital management of companies are required. To make their optimal capital structure, it is necessary to minimize the capital cost, decrease definite risks under existing limits, and maximize profitability. The capital structure analysis of Russian and foreign oil companies shows different approaches, reasons, as well as conditions and, consequently, equity capital and debt capital relationship and their cost, which demands the effective capital management strategy.

  20. The Cost of Workplace Flexibility for High-Powered Professionals

    OpenAIRE

    Claudia D. Goldin; Katz, Lawrence F.

    2011-01-01

    The authors study the pecuniary penalties for family-related amenities in the workplace (e.g., job interruptions, short hours, part-time work, and flexibility during the workday), how women have responded to them, and how the penalties have changed over time. The pecuniary penalties to behaviors that are beneficial to family appear to have decreased in many professions. Self-employment has declined in many of the high-end professions (e.g., pharmacy, optometry, dentistry, law, medicine, and v...

  1. Social capital and workplace bullying.

    Science.gov (United States)

    Pihl, Patricia; Albertsen, Karen; Hogh, Annie; Andersen, Lars Peter Sønderbo

    2017-01-01

    Workplace bullying is a serious stressor with devastating short- and long-term consequences. The concept of organizational social capital may provide insights into the interactional and communicative dynamics of the bullying process and opportunities for prevention. This study aimed to explore the association between organizational social capital and being a target or observer of workplace bullying. Based on self-reported cross-sectional data from a large representative sample of the Danish working population (n = 10.037), logistic regression analyses were conducted to explore at the individual level the associations between vertical and horizontal organizational social capital with being a target or observer of workplace bullying. In the fully adjusted models, low organizational social capital (vertical and horizontal) was associated with significantly increased odds ratios of both self-labelled (vertical: OR = 3.25; CI = 2.34-4.51; horizontal: OR = 3.17; CI = 2.41-4.18) and observed workplace bullying (vertical: OR = 2.09; CI = 1.70-2.56; horizontal: OR = 1.60; CI = 1.35-1.89), when compared with high organizational social capital. This study supports that characteristics of the psychosocial work environment are of importance in the development of workplace bullying, and provides focus on the importance of self-reported organizational social capital.

  2. Bottom-Up Cost Analysis of a High Concentration PV Module; NREL (National Renewable Energy Laboratory)

    Energy Technology Data Exchange (ETDEWEB)

    Horowitz, K.; Woodhouse, M.; Lee, H.; Smestad, G.

    2015-04-13

    We present a bottom-up model of III-V multi-junction cells, as well as a high concentration PV (HCPV) module. We calculate $0.65/Wp(DC) manufacturing costs for our model HCPV module design with today’s capabilities, and find that reducing cell costs and increasing module efficiency offer the promising pathways for future cost reductions. Cell costs could be significantly reduced via an increase in manufacturing scale, substrate reuse, and improved manufacturing yields. We also identify several other significant drivers of HCPV module costs, including the Fresnel lens primary optic, module housing, thermal management, and the receiver board. These costs could potentially be lowered by employing innovative module designs.

  3. High performance/low cost accelerator control system

    Science.gov (United States)

    Magyary, S.; Glatz, J.; Lancaster, H.; Selph, F.; Fahmie, M.; Ritchie, A.; Timossi, C.; Hinkson, C.; Benjegerdes, R.

    1980-10-01

    Implementation of a high performance computer control system tailored to the requirements of the Super HILAC accelerator is described. This system uses a distributed structure with fiber optic data links; multiple CPUs operate in parallel at each node. A large number of the latest 16 bit microcomputer boards are used to get a significant processor bandwidth. Dynamically assigned and labeled knobs together with touch screens allow a flexible and efficient operator interface. An X-Y vector graphics system allows display and labeling of real time signals as well as general plotting functions. Both the accelerator parameters and the graphics system can be driven from BASIC interactive programs in addition to the precanned user routines.

  4. Valuation, Capital Structure Decisions and the Cost of Capital

    NARCIS (Netherlands)

    M.B.J. Schauten (Marc)

    2008-01-01

    textabstractThis thesis consists of six essays in Corporate Finance. In Chapter 1 we examine the relation between the quality of corporate governance and the value of excess cash for large European firms. We use ratings for Shareholder rights, Takeover defenses, Disclosure and Board structure as pro

  5. Valuation, Capital Structure Decisions and the Cost of Capital

    NARCIS (Netherlands)

    M.B.J. Schauten (Marc)

    2008-01-01

    textabstractThis thesis consists of six essays in Corporate Finance. In Chapter 1 we examine the relation between the quality of corporate governance and the value of excess cash for large European firms. We use ratings for Shareholder rights, Takeover defenses, Disclosure and Board structure as

  6. Cost optimization of load carrying thin-walled precast high performance concrete sandwich panels

    DEFF Research Database (Denmark)

    Hodicky, Kamil; Hansen, Sanne; Hulin, Thomas

    2015-01-01

    and HPCSP’s geometrical parameters as well as on material cost function in the HPCSP design. Cost functions are presented for High Performance Concrete (HPC), insulation layer, reinforcement and include labour-related costs. The present study reports the economic data corresponding to specific manufacturing......The paper describes a procedure to find the structurally and thermally efficient design of load-carrying thin-walled precast High Performance Concrete Sandwich Panels (HPCSP) with an optimal economical solution. A systematic optimization approach is based on the selection of material’s performances....... The solution of the optimization problem is performed in the computer package software Matlab® with SQPlab package and integrates the processes of HPCSP design, quantity take-off and cost estimation. The proposed optimization process outcomes in complex HPCSP design proposals to achieve minimum cost of HPCSP....

  7. Empathy costs: Negative emotional bias in high empathisers.

    Science.gov (United States)

    Chikovani, George; Babuadze, Lasha; Iashvili, Nino; Gvalia, Tamar; Surguladze, Simon

    2015-09-30

    Excessive empathy has been associated with compassion fatigue in health professionals and caregivers. We investigated an effect of empathy on emotion processing in 137 healthy individuals of both sexes. We tested a hypothesis that high empathy may underlie increased sensitivity to negative emotion recognition which may interact with gender. Facial emotion stimuli comprised happy, angry, fearful, and sad faces presented at different intensities (mild and prototypical) and different durations (500ms and 2000ms). The parameters of emotion processing were represented by discrimination accuracy, response bias and reaction time. We found that higher empathy was associated with better recognition of all emotions. We also demonstrated that higher empathy was associated with response bias towards sad and fearful faces. The reaction time analysis revealed that higher empathy in females was associated with faster (compared with males) recognition of mildly sad faces of brief duration. We conclude that although empathic abilities were providing for advantages in recognition of all facial emotional expressions, the bias towards emotional negativity may potentially carry a risk for empathic distress. Copyright © 2015 Elsevier Ireland Ltd. All rights reserved.

  8. Low-Cost, High-Performance Combustion Chamber

    Science.gov (United States)

    Fortini, Arthur J.

    2015-01-01

    Ultramet designed and fabricated a lightweight, high-temperature combustion chamber for use with cryogenic LOX/CH4 propellants that can deliver a specific impulse of approx.355 seconds. This increase over the current 320-second baseline of nitrogen tetroxide/monomethylhydrazine (NTO/MMH) will result in a propellant mass decrease of 55 lb for a typical lunar mission. The material system was based on Ultramet's proven oxide-iridium/rhenium architecture, which has been hot-fire tested with stoichiometric oxygen/hydrogen for hours. Instead of rhenium, however, the structural material was a niobium or tantalum alloy that has excellent yield strength at both ambient and elevated temperatures. Phase I demonstrated alloys with yield strength-to-weight ratios more than three times that of rhenium, which will significantly reduce chamber weight. The starting materials were also two orders of magnitude less expensive than rhenium and were less expensive than the C103 niobium alloy commonly used in low-performance engines. Phase II focused on the design, fabrication, and hot-fire testing of a 12-lbf thrust class chamber with LOX/CH4, and a 100-lbf chamber for LOX/CH4. A 5-lbf chamber for NTO/MMH also was designed and fabricated.

  9. Capital budgeting practices in Indian companies

    Directory of Open Access Journals (Sweden)

    Roopali Batra

    2017-03-01

    Full Text Available The volatility of the global economy, changing business practices, and academic developments have created a need to re-examine Indian corporate capital budgeting practices. Our research is based on a sample of 77 Indian companies listed on the Bombay Stock Exchange. Results reveal that corporate practitioners largely follow the capital budgeting practices proposed by academic theory. Discounted cash flow techniques of net present value and internal rate of return and risk adjusted sensitivity analysis are most popular. Weighted average cost of capital as cost of capital is most favoured. Nevertheless, the theory-practice gap remains in adoption of specialised techniques of real options, modified internal rate of return (MIRR, and simulation. Non-financial criteria are also given due consideration in project selection.

  10. EMERGING CAPITAL MARKETS: OPPORTUNITIES AND LIMITS

    Directory of Open Access Journals (Sweden)

    FELICIA RAMONA BIRAU

    2012-05-01

    Full Text Available This theoretical study examines the concept of emerging capital markets in Europe from the border between certain opportunities and limits. The financial architecture of emerging capital markets has certain characteristics such as a high degree of instability and a sharp level of illiquidity which exposed the vulnerability of this particular type of market. Emerging capital market represents a main characteristic of developing countries and they are less efficient than the developed market given their deep functional, structural and institutional dysfunctions.

  11. Social Capital Impact On Service Supply Chains

    Directory of Open Access Journals (Sweden)

    Sherry L. Avery

    2011-05-01

    Full Text Available Purpose – This study explores the impact of social capital on service firm supply chains.Design/methodology/approach – The theoretical underpinnings of social capital is reviewed from various disciplines, including sociology, management, and operations management.  This is used to develop a conceptual model of the use of social capital in a service supply chain setting.Findings - Social capital is proposed to improve the operational performance of service firms as a source of both physical and information resources.    The impact of social capital is projected to vary by firm size and service type.  Small firms have limited resources and thus a need for resources obtained through social capital.  Service firms that have high customization and customer contact are subject to process variations which can be mitigated by social capital.  A conceptual model is presented to test several propositions related to social capital.Originality/value – The impact of social capital has not been widely studied in an operational setting.  This is the first known study to specifically analyze the impact of social capital in service supply chains.

  12. Compact, Low-Cost, Frequency-Locked Semiconductor Laser for Injection Seeding High Power Laser Project

    Data.gov (United States)

    National Aeronautics and Space Administration — This NASA Small Business Innovative Research Phase II project will develop a compact, low-cost, wavelength locked seed laser for injection locking high powered...

  13. Low-Cost and High-Performance Propulsion for Small Satellite Applications Project

    Data.gov (United States)

    National Aeronautics and Space Administration — While small satellites continue to show immense promise for high-capability and low-cost missions, they remain limited by post-deployment propulsion for a variety of...

  14. Very Low-Cost, Rugged, High-Vacuum System for Mass Spectrometers Project

    Data.gov (United States)

    National Aeronautics and Space Administration — NASA, the DoD, DHS, and commercial industry have a pressing need for miniaturized, rugged, low-cost, high vacuum systems. Recent advances in sensor technology at...

  15. 78 FR 16808 - Connect America Fund; High-Cost Universal Service Support

    Science.gov (United States)

    2013-03-19

    ... establish any comparator groups.'' They argue that the benchmark ``formulas impose limitations on companies... modify the high cost loop support (HCLS) benchmarks. DATES: Effective March 19, 2013. FOR FURTHER... networks while requiring accountability from companies receiving support and ensuring fairness...

  16. Hummingbird - A Very Low Cost, High Delta V Spacecraft for Solar System Exploration Project

    Data.gov (United States)

    National Aeronautics and Space Administration — Based on Microcosm's development of a high delta-V small Earth observation spacecraft called NanoEye, with a planned recurring cost of $2 million, Microcosm will...

  17. Very Low-Cost, Rugged, High-Vacuum System for Mass Spectrometers Project

    Data.gov (United States)

    National Aeronautics and Space Administration — NASA, DoD, DHS, and commercial industry have a pressing need for miniaturized, rugged, low-cost high-vacuum systems. Recent advances in sensor technology at NASA and...

  18. [Evolution of reimbursement of high-cost anticancer drugs: Financial impact within a university hospital].

    Science.gov (United States)

    Baudouin, Amandine; Fargier, Emilie; Cerruti, Ariane; Dubromel, Amélie; Vantard, Nicolas; Ranchon, Florence; Schwiertz, Vérane; Salles, Gilles; Souquet, Pierre-Jean; Thomas, Luc; Bérard, Frédéric; Nancey, Stéphane; Freyer, Gilles; Trillet-Lenoir, Véronique; Rioufol, Catherine

    2017-06-01

    In the context of health expenses control, reimbursement of high-cost medicines with a 'minor' or 'nonexistent' improvement in actual health benefit evaluated by the Haute Autorité de santé is revised by the decree of March 24, 2016 related to the procedure and terms of registration of high-cost pharmaceutical drugs. This study aims to set up the economic impact of this measure. A six months retrospective study was conducted within a French university hospital from July 1, 2015 to December 31, 2015. For each injectable high-cost anticancer drug prescribed to a patient with cancer, the therapeutic indication, its status in relation to the marketing authorization and the associated improvement in actual health benefit were examined. The total costs of these treatments, the cost per type of indication and, in the case of marketing authorization indications, the cost per improvement in actual health benefit were evaluated considering that all drugs affected by the decree would be struck off. Over six months, 4416 high-cost injectable anticancer drugs were prescribed for a total cost of 4.2 million euros. The costs of drugs with a minor or nonexistent improvement in actual benefit and which comparator is not onerous amount 557,564 euros. The reform of modalities of inscription on the list of onerous drugs represents a significant additional cost for health institutions (1.1 million euros for our hospital) and raises the question of the accessibility to these treatments for cancer patients. Copyright © 2017 Société Française du Cancer. Published by Elsevier Masson SAS. All rights reserved.

  19. Disruptive Models in Primary Care: Caring for High-Needs, High-Cost Populations.

    Science.gov (United States)

    Hochman, Michael; Asch, Steven M

    2017-04-01

    Starfield and colleagues have suggested four overarching attributes of good primary care: "first-contact access for each need; long-term person- (not disease) focused care; comprehensive care for most health needs; and coordinated care when it must be sought elsewhere." As this series on reinventing primary care highlights, there is a compelling need for new care delivery models that would advance these objectives. This need is particularly urgent for high-needs, high-cost (HNHC) populations. By definition, HNHC patients require extensive attention and consume a disproportionate share of resources, and as a result they strain traditional office-based primary care practices. In this essay, we offer a clinical vignette highlighting the challenges of caring for HNHC populations. We then describe two categories of primary care-based approaches for managing HNHC populations: complex case management, and specialized clinics focused on HNHC patients. Although complex case management programs can be incorporated into or superimposed on the traditional primary care system, such efforts often fail to engage primary care clinicians and HNHC patients, and proven benefits have been modest to date. In contrast, specialized clinics for HNHC populations are more disruptive, as care for HNHC patients must be transferred to a multidisciplinary team that can offer enhanced care coordination and other support. Such specialized clinics may produce more substantial benefits, though rigorous evaluation of these programs is needed. We conclude by suggesting policy reforms to improve care for HNHC populations.

  20. Re-Engineering a High Performance Electrical Series Elastic Actuator for Low-Cost Industrial Applications

    Directory of Open Access Journals (Sweden)

    Kenan Isik

    2017-01-01

    Full Text Available Cost is an important consideration when transferring a technology from research to industrial and educational use. In this paper, we introduce the design of an industrial grade series elastic actuator (SEA performed via re-engineering a research grade version of it. Cost-constrained design requires careful consideration of the key performance parameters for an optimal performance-to-cost component selection. To optimize the performance of the new design, we started by matching the capabilities of a high-performance SEA while cutting down its production cost significantly. Our posit was that performing a re-engineering design process on an existing high-end device will significantly reduce the cost without compromising the performance drastically. As a case study of design for manufacturability, we selected the University of Texas Series Elastic Actuator (UT-SEA, a high-performance SEA, for its high power density, compact design, high efficiency and high speed properties. We partnered with an industrial corporation in China to research the best pricing options and to exploit the retail and production facilities provided by the Shenzhen region. We succeeded in producing a low-cost industrial grade actuator at one-third of the cost of the original device by re-engineering the UT-SEA with commercial off-the-shelf components and reducing the number of custom-made parts. Subsequently, we conducted performance tests to demonstrate that the re-engineered product achieves the same high-performance specifications found in the original device. With this paper, we aim to raise awareness in the robotics community on the possibility of low-cost realization of low-volume, high performance, industrial grade research and education hardware.

  1. Using the Black Scholes method for estimating high cost illness insurance premiums in Colombia

    Directory of Open Access Journals (Sweden)

    Liliana Chicaíza

    2009-04-01

    Full Text Available This article applied the Black-Scholes option valuation formula to calculating high-cost illness reinsurance premiums in the Colombian health system. The coverage pattern used in reinsuring high-cost illnesses was replicated by means of a European call option contract. The option’s relevant variables and parameters were adapted to an insurance market context. The premium estimated by the BlackScholes method fell within the range of premiums estimated by the actuarial method.

  2. Social capital and change in psychological health over time.

    Science.gov (United States)

    Giordano, Giuseppe Nicola; Lindström, Martin

    2011-04-01

    The positive association between social capital and general health outcomes has been extensively researched over the past decade; however, studies investigating social capital and psychological health show less consistent results. Despite this, policy-makers worldwide still employ elements of social capital to promote and improve psychological health. This United Kingdom study investigates the association between changes in psychological health over time and three different individual-level proxies of social capital, measures of socio-economic status, social support and the confounders age and gender. All data are derived from the British Household Panel Survey data, with the same individuals (N = 7994) providing responses from 2000-2007. The data were split according to baseline psychological health status ('Good' or 'Poor' psychological health - the dependent variable). Using Generalised Estimating Equations, two separate models were built to investigate the association between changes from baseline psychological health over time and considered variables. An autoregressive working correlation structure was employed to derive the true influence of explanatory variables on psychological health outcomes over time. We found that generalised trust was the only social capital variable to maintain a positive and highly significant association with psychological health in multivariable models. All measures of socioeconomic status and social support were rendered insignificant, bar one. We therefore argue that the breakdown of the traditional family unit (and subsequent reduction in family capital investment), along with psychosocial pathways, demonstrate plausible mechanisms by which a decrease in generalised trust could lead to an increasing trend of worse psychological health in youth over successive birth cohorts. Policy makers, while providing welfare solutions in response to breakdown in traditional family structure, must also consider perverse incentives they

  3. Fundamental understanding and development of low-cost, high-efficiency silicon solar cells

    Energy Technology Data Exchange (ETDEWEB)

    ROHATGI,A.; NARASIMHA,S.; MOSCHER,J.; EBONG,A.; KAMRA,S.; KRYGOWSKI,T.; DOSHI,P.; RISTOW,A.; YELUNDUR,V.; RUBY,DOUGLAS S.

    2000-05-01

    The overall objectives of this program are (1) to develop rapid and low-cost processes for manufacturing that can improve yield, throughput, and performance of silicon photovoltaic devices, (2) to design and fabricate high-efficiency solar cells on promising low-cost materials, and (3) to improve the fundamental understanding of advanced photovoltaic devices. Several rapid and potentially low-cost technologies are described in this report that were developed and applied toward the fabrication of high-efficiency silicon solar cells.

  4. Considerations on a Cost Model for High-Field Dipole Arc Magnets for FCC

    CERN Document Server

    AUTHOR|(CDS)2078700; Durante, Maria; Lorin, Clement; Martinez, Teresa; Ruuskanen, Janne; Salmi, Tiina; Sorbi, Massimo; Tommasini, Davide; Toral, Fernando

    2017-01-01

    In the frame of the European Circular Collider (EuroCirCol), a conceptual design study for a post-Large Hadron Collider (LHC) research infrastructure based on an energy-frontier 100 TeV circular hadron collider [1]–[3], a cost model for the high-field dipole arc magnets is being developed. The aim of the cost model in the initial design phase is to provide the basis for sound strategic decisions towards cost effective designs, in particular: (A) the technological choice of superconducting material and its cost, (B) the target performance of Nb3Sn superconductor, (C) the choice of operating temperature (D) the relevant design margins and their importance for cost, (E) the nature and extent of grading, and (F) the aperture’s influence on cost. Within the EuroCirCol study three design options for the high field dipole arc magnets are under study: cos − θ [4], block [5], and common-coil [6]. Here, in the advanced design phase, a cost model helps to (1) identify the cost drivers and feed-back this informati...

  5. Triads of capital

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase

    Within current research on social capital, a gap exists between political history analyses at the macro level and classical, sociological analyses at the meso and micro levels. Following up on  earlier work, the main purpose of this paper is to mediate between the two conflicting stances...... represented by Putnam and Portes. The paper raises the following question: Is it possible to detect the historical driving forces behind the building of both beneficial and harmful social capital? Driving forces are defined as structural determinants, which change human organization at all levels....... The hypothesis is that three forms of capital have the potential to act as driving forces: social capital, cultural capital and physical capital, the latter operationaliz­ed as buildings. A new concept, triad of capital, is introduced to analyze the interrelationship between these three forms of capital. A triad...

  6. State Capitalism in Eurasia

    NARCIS (Netherlands)

    C. Spechler, Martin; Ahrens, Joachim; Hoen, Herman W.

    2017-01-01

    The book specifies the type of economic system that has arisen in Central Asian. It presents three types of state-capitalism established in the former Soviet Union states in Eurasia - crony, dual sector, and predatory capitalism.

  7. O outro capital The other capital

    Directory of Open Access Journals (Sweden)

    Vinicius Prates da Fonseca Bueno

    2012-01-01

    Full Text Available Capital social uma forma de mobilizao cujo cerne no est nos indivduos nem nas formas de produo econmica, mas nas redes complexas de solidariedade e confiana. O livro Comunicao e poltica: capital social, reconhecimento e deliberao pblica traz uma coleo de artigos de pesquisadores em comunicao sobre este tema, organizado por ngela Marques e Heloiza Matos.Social capital is a form of mobilization whose core is not on individuals or in forms of economic production, but in the complex networks of solidarity and trust. The book Comunicao e poltica: capital social, reconhecimento e deliberao pblica (that translated to English means Communication and politics: social capital, recognition and public deliberation is a collection of articles written by researchers in communication about this subject, organized by ngela Marques and Heloiza Matos.

  8. Allocating risk capital for a brownfields redevelopment project under hydrogeological and financial uncertainty.

    Science.gov (United States)

    Yu, Soonyoung; Unger, Andre J A; Parker, Beth; Kim, Taehee

    2012-06-15

    In this study, we defined risk capital as the contingency fee or insurance premium that a brownfields redeveloper needs to set aside from the sale of each house in case they need to repurchase it at a later date because the indoor air has been detrimentally affected by subsurface contamination. The likelihood that indoor air concentrations will exceed a regulatory level subject to subsurface heterogeneity and source zone location uncertainty is simulated by a physics-based hydrogeological model using Monte Carlo realizations, yielding the probability of failure. The cost of failure is the future value of the house indexed to the stochastic US National Housing index. The risk capital is essentially the probability of failure times the cost of failure with a surcharge to compensate the developer against hydrogeological and financial uncertainty, with the surcharge acting as safety loading reflecting the developers' level of risk aversion. We review five methodologies taken from the actuarial and financial literature to price the risk capital for a highly stylized brownfield redevelopment project, with each method specifically adapted to accommodate our notion of the probability of failure. The objective of this paper is to develop an actuarially consistent approach for combining the hydrogeological and financial uncertainty into a contingency fee that the brownfields developer should reserve (i.e. the risk capital) in order to hedge their risk exposure during the project. Results indicate that the price of the risk capital is much more sensitive to hydrogeological rather than financial uncertainty. We use the Capital Asset Pricing Model to estimate the risk-adjusted discount rate to depreciate all costs to present value for the brownfield redevelopment project. A key outcome of this work is that the presentation of our risk capital valuation methodology is sufficiently generalized for application to a wide variety of engineering projects. Copyright © 2012 Elsevier

  9. 'Blue' social capital and work performance

    DEFF Research Database (Denmark)

    Grøn, Sisse; Svendsen, Gunnar Lind Haase

    2012-01-01

    (Progoulaki & Roe 2011). This challenges social capital on board, i.e. the resources inherent in network cooperation associated with norms of reciprocity and trust (Putnam 2000: 19). Fragmentizing ‘blue’ social capital should however be restored, because work performance depends on the quality of cooperation...... findings suggest that a balance between three types of social capital – bonding, bridging and linking – is needed to achieve a high-performance work system (Gittell et al. 2010). Hence, main actors within the shipping sector should take ‘blue’ social capital into account in order to increase work...

  10. Register-based indicators for potentially inappropriate medication in high-cost patients with excessive polypharmacy.

    Science.gov (United States)

    Saastamoinen, Leena K; Verho, Jouko

    2015-06-01

    Excessive polypharmacy is often associated with inappropriate drug use. Because drug expenditures are heavily skewed and a considerable share of patients in the top 5% of the cost distribution have excessive polypharmacy, the appropriateness of their drug use should be reviewed. The aim of this study was to review the quality of drug use in patients with extremely high costs and excessive polypharmacy and to compare them with all drug users. This is a nationwide register study. The subjects of this study were all drug users in Finland over 15 years of age, n = 3,303,813. The measures used were annual total costs, average costs, and number of patients. The background characteristics used included gender, age, morbidity, number of prescribers, active substances, and indicators of potentially inappropriate drug use, for example, Beers criteria. The patients with high costs and excessive polypharmacy accounted for 22% of the total pharmaceutical expenditures but only 3% of drug users. One-third of them were elderly, compared with 11.3% of all drug users (p polypharmacy patients used more potentially inappropriate (28.0% vs 19.9%, p polypharmacy with inappropriate medication use should be prevented using all the methods. The patients with excessive polypharmacy and high-drug costs provide a most interesting group for containing pharmaceutical costs via medication reviews. Copyright © 2015 John Wiley & Sons, Ltd.

  11. Provider payments and patient charges as policy tools for cost-containment: How successful are they in high-income countries?

    Directory of Open Access Journals (Sweden)

    Hanvoravongchai Piya

    2003-07-01

    Full Text Available Abstract In this paper, we focus on those policy instruments with monetary incentives that are used to contain public health expenditure in high-income countries. First, a schematic view of the main cost-containment methods and the variables in the health system they intend to influence is presented. Two types of instruments to control the level and growth of public health expenditure are considered: (i provider payment methods that influence the price and quantity of health care, and (ii cost-containment measures that influence the behaviour of patients. Belonging to the first type of instruments, we have: fee-for-service, per diem payment, case payment, capitation, salaries and budgets. The second type of instruments consists of patient charges and reference price systems for pharmaceuticals. Secondly, we provide an overview of experience in high-income countries that use or have used these particular instruments. Finally, the paper assesses the overall potential of these instruments in cost-containment policies.

  12. Empirical analysis of Brazilian banks' capital buffers during the period 2001-2011

    Directory of Open Access Journals (Sweden)

    Vinícius Cintra Belém

    2016-04-01

    Full Text Available International literature indicates that the capital buffers held by banks result notably from the trade-off that exists between the cost of holding capital, adjustment costs, and bankruptcy costs, which all have a direct impact on banks' capital structures. The aim of this paper is to study the degree of sensitivity of Brazilian banks' capital buffers to the determining factors established in the literature, by using a sample of 121 banks, covering the period from 2001 to 2011. The empirical analysis that was carried out found that there was a significant cost of adjusting capital buffers for the Brazilian banks. At the same time, bankruptcy cost indicated a positive relationship between risk profile and capital buffers, while the cost of holding capital did not exhibit statistical significance in the analysis.

  13. CONTROLS ON CAPITAL MOVEMENTS

    Directory of Open Access Journals (Sweden)

    Petris Sorina

    2012-12-01

    Full Text Available Until recently, capital mobility was encouraged across national borders, because it was considered that such capital can seek the highest rate of return. However, recent global financial developments have shown that, due to contagion, the mobility of capital flows can cause severe financial imbalances. In the context of globalization, liberalization or maintaining controls on capital flows is a current topic, more debated by economists. This topic is very important, due to the impact of liberalization decision or maintaining controls on capital flows has on the overall macroeconomic framework. The paper analyzes the relationship between capital flows’ control and the income per capita, the degree of central bank independence, democracy country, the foreign exchange regime. Also, it analyzes the effectiveness in time of capital controls, taking account of financial system development and potential risks of instability. Over time, it was observed that a period in which they have imposed restrictions on capital movements was followed by a removal of such restrictions, and vice versa. Cyclic change of capital movements regime corresponds to the cyclic evolution of the global economy. Full capital account liberalization led to the emergence of currency and financial crises, so that the idea of maintaining controls on capital is not rejected by economists. After a full liberalization of capital flows, there is a change in the mentality of an increasing number of economists, who support the maintenance of controls, in a gradual liberalization.

  14. Theorizing Emotional Capital

    NARCIS (Netherlands)

    Cottingham, M.D.

    2016-01-01

    Theorizing a sociology of emotion that links micro-level resources to macro-level forces, this article extends previous work on emotional capital in relation to emotional experiences and management. Emerging from Bourdieu’s theory of social practice, emotional capital is a form of cultural capital t

  15. Theorizing Emotional Capital

    NARCIS (Netherlands)

    Cottingham, M.D.

    2016-01-01

    Theorizing a sociology of emotion that links micro-level resources to macro-level forces, this article extends previous work on emotional capital in relation to emotional experiences and management. Emerging from Bourdieu’s theory of social practice, emotional capital is a form of cultural capital

  16. HUMAN CAPITAL FLIGHT - ROMANIA’S CASE

    Directory of Open Access Journals (Sweden)

    Magdalena VELCIU

    2016-12-01

    Full Text Available Knowledge, qualifications of workforce and human capital became key factors for progress. Human capital flight transfers not only people but work, knowledge, tangible and intangible capital and development potential. In this article, trying to answer whether Romania is a source country for emigration of highly skilled or well-educated individuals (ie human capital flight I flew over those two dimensions that have traditionally characterized human capital flight namely: shrinking work resource and lossing high educated peoples. Therefore, Romania was faced with decreasing the number of resident population due to the evolution of demographic phenomena with negative projections and declining number of working age population and young educated and highly skilled workers and professionals. This will generate complex problems for economy, labour market, difficulty in finding highly skilled workers, talent shortages etc so it’s critical to monitor the labour migration or brain drain phenomenon.

  17. Automated packaging platform for low-cost high-performance optical components manufacturing

    Science.gov (United States)

    Ku, Robert T.

    2004-05-01

    Delivering high performance integrated optical components at low cost is critical to the continuing recovery and growth of the optical communications industry. In today's market, network equipment vendors need to provide their customers with new solutions that reduce operating expenses and enable new revenue generating IP services. They must depend on the availability of highly integrated optical modules exhibiting high performance, small package size, low power consumption, and most importantly, low cost. The cost of typical optical system hardware is dominated by linecards that are in turn cost-dominated by transmitters and receivers or transceivers and transponders. Cost effective packaging of optical components in these small size modules is becoming the biggest challenge to be addressed. For many traditional component suppliers in our industry, the combination of small size, high performance, and low cost appears to be in conflict and not feasible with conventional product design concepts and labor intensive manual assembly and test. With the advent of photonic integration, there are a variety of materials, optics, substrates, active/passive devices, and mechanical/RF piece parts to manage in manufacturing to achieve high performance at low cost. The use of automation has been demonstrated to surpass manual operation in cost (even with very low labor cost) as well as product uniformity and quality. In this paper, we will discuss the value of using an automated packaging platform.for the assembly and test of high performance active components, such as 2.5Gb/s and 10 Gb/s sources and receivers. Low cost, high performance manufacturing can best be achieved by leveraging a flexible packaging platform to address a multitude of laser and detector devices, integration of electronics and handle various package bodies and fiber configurations. This paper describes the operation and results of working robotic assemblers in the manufacture of a Laser Optical Subassembly

  18. Study on the fuel cycle cost of gas turbine high temperature reactor (GTHTR300). Contract research

    Energy Technology Data Exchange (ETDEWEB)

    Takei, Masanobu; Katanishi, Shoji; Nakata, Tetsuo; Kunitomi, Kazuhiko [Japan Atomic Energy Research Inst., Oarai, Ibaraki (Japan). Oarai Research Establishment; Oda, Takefumi; Izumiya, Toru [Nuclear Fuel Industries, Ltd., Tokyo (Japan)

    2002-11-01

    In the basic design of gas turbine high temperature reactor (GTHTR300), reduction of the fuel cycle cost has a large benefit of improving overall plant economy. Then, fuel cycle cost was evaluated for GTHTR300. First, of fuel fabrication for high-temperature gas cooled reactor, since there was no actual experience with a commercial scale, a preliminary design for a fuel fabrication plant with annual processing of 7.7 ton-U sufficient four GTHTR300 was performed, and fuel fabrication cost was evaluated. Second, fuel cycle cost was evaluated based on the equilibrium cycle of GTHTR300. The factors which were considered in this cost evaluation include uranium price, conversion, enrichment, fabrication, storage of spent fuel, reprocessing, and waste disposal. The fuel cycle cost of GTHTR300 was estimated at about 1.07 yen/kWh. If the back-end cost of reprocessing and waste disposal is included and assumed to be nearly equivalent to LWR, the fuel cycle cost of GTHTR300 was estimated to be about 1.31 yen/kWh. Furthermore, the effects on fuel fabrication cost by such of fuel specification parameters as enrichment, the number of fuel types, and the layer thickness were considered. Even if the enrichment varies from 10 to 20%, the number of fuel types change from 1 to 4, the 1st layer thickness of fuel changes by 30 {mu}m, or the 2nd layer to the 4th layer thickness of fuel changes by 10 {mu}m, the impact on fuel fabrication cost was evaluated to be negligible. (author)

  19. Low Cost Automated Manufacture of High Efficiency THINS ZTJ PV Blanket Technology (P-NASA12-007) Project

    Data.gov (United States)

    National Aeronautics and Space Administration — NASA needs lower cost solar arrays with high performance for a variety of missions. While high efficiency, space-qualified solar cells are in themselves costly, >...

  20. HOW TO MEASURE HUMAN CAPITAL: A SHORT REVIEW

    Directory of Open Access Journals (Sweden)

    Bálint BALOGH

    2013-06-01

    Full Text Available This paper focuses on the most important estimation approaches of human capital. These approaches can be labeled as either monetary or non-monetary methods of estimation. The three major monetary methods of human capital are the prospective method, the retrospective method and the integrated approach. The income-based approach (prospective method estimates human capital based on the present value of a person’s future income stream. The cost-based approach (retrospective method is centered on the “production” costs of human capital, trying to determine the costs of producing human capital by adding up the education and schooling costs. The integrated approach is a mixture of the prospective and retrospective method. On the other side, the non-monetary measures are essentially education-based indicators, such as the literacy rate, the school enrollment rate or the average years of education.

  1. Developing World Faces Scarce Financing——Developing countries facing higher borrowing costs, lower credit levels, and reduced international capital flows, Says World Bank

    Institute of Scientific and Technical Information of China (English)

    Guo Liqin

    2010-01-01

    @@ The global economic recovery that is now underway will slow later this year as the impact of fiscal stimulus wanes. Financial markets remain troubled and private sector demand lags amid high unemployment, according to a new report from the World Bank.

  2. Cultural Capital during Migration—A Multi-level Approach for the Empirical Analysis of the Labor Market Integration of Highly Skilled Migrants

    Directory of Open Access Journals (Sweden)

    Arnd-Michael Nohl

    2006-05-01

    Full Text Available The integration of highly qualified migrants into the labor market can be an opportunity for knowledge societies because their prosperity depends on the incorporation and improvement of cultural capital. In this paper we present a qualitative research approach with which we analyze on several levels how migrants make use of their cultural capital during their entry into the labor market: in addition to the biographical experience of migrants we analyze how this experience is embedded in milieus, social networks and self-organizations (meso-level and structured by the macro-level of judicial regulations of immigration and labor market policies. Our empirical analysis is focused by the assumed importance of educational qualification and residence status during entry into the labor market. Four different groups of empirical cases, which differ with respect to the level of education, the place of its acquisition (at home or abroad as well as to their residence status, are compared to each other. In order to study the contingencies of meso and macro-social contexts, labor-market integration will be examined in the context of Germany as well as in Canada, Great Britain and Turkey. URN: urn:nbn:de:0114-fqs0603143

  3. Optimization of the customer capital management system of the enterprise

    Directory of Open Access Journals (Sweden)

    Ie.O. Golysheva

    2013-12-01

    Full Text Available The aim of the article. The aim of the article is development of methodology of optimization of customer capital management system for enterprises. The results of the analysis. Thу article presents the optimization of customer capital management system which based on author’s methodology of customer capital evaluation. This methodology is based on the definition of integral indexes for resource and potential components of customer capital. The author considers the system of business relationship with economic contractors, information about economic contractors and history of relations with them, the trademarks of the company to the resource part and distribution system, communication system and image of the company – to the potential part of customer capital. Accordingly, the improvement of the state of customer capital management is due to the implementation of complex of strategic actions to switch positions on the matrix «resource-potential». The increase of the resource base and potential of customer capital leads to increased competitive position of the company and increases the efficiency of its activities. However, increasing the level of customer capital is required costs of management actions. Therefore, it is necessity of determine of the optimal value of the result and the necessary costs to produce it. The article presents a graphical interpretation of depending costs of customer capital increasing, results of enterprise activity on the state of its customer capital. Going to the next quadrant of the matrix «resource-potential» is made in the direction of «up and right». It is linked to the achievement of results and additional costs. Their tentative list is given in the article. Each transition is associated with a certain level of results and costs. It is necessary to choose that variant, when the ratio is maximum. Thus, in the paper an algorithm has been developed that takes into account all possible transitions and

  4. Scalable Light Module for Low-Cost, High-Efficiency Light- Emitting Diode Luminaires

    Energy Technology Data Exchange (ETDEWEB)

    Tarsa, Eric [Cree, Inc., Goleta, CA (United States)

    2015-08-31

    During this two-year program Cree developed a scalable, modular optical architecture for low-cost, high-efficacy light emitting diode (LED) luminaires. Stated simply, the goal of this architecture was to efficiently and cost-effectively convey light from LEDs (point sources) to broad luminaire surfaces (area sources). By simultaneously developing warm-white LED components and low-cost, scalable optical elements, a high system optical efficiency resulted. To meet program goals, Cree evaluated novel approaches to improve LED component efficacy at high color quality while not sacrificing LED optical efficiency relative to conventional packages. Meanwhile, efficiently coupling light from LEDs into modular optical elements, followed by optimally distributing and extracting this light, were challenges that were addressed via novel optical design coupled with frequent experimental evaluations. Minimizing luminaire bill of materials and assembly costs were two guiding principles for all design work, in the effort to achieve luminaires with significantly lower normalized cost ($/klm) than existing LED fixtures. Chief project accomplishments included the achievement of >150 lm/W warm-white LEDs having primary optics compatible with low-cost modular optical elements. In addition, a prototype Light Module optical efficiency of over 90% was measured, demonstrating the potential of this scalable architecture for ultra-high-efficacy LED luminaires. Since the project ended, Cree has continued to evaluate optical element fabrication and assembly methods in an effort to rapidly transfer this scalable, cost-effective technology to Cree production development groups. The Light Module concept is likely to make a strong contribution to the development of new cost-effective, high-efficacy luminaries, thereby accelerating widespread adoption of energy-saving SSL in the U.S.

  5. 76 FR 35351 - Capital Plans

    Science.gov (United States)

    2011-06-17

    ..., implementing, and monitoring a bank holding company's capital planning strategies and internal capital adequacy... requirements into their capital planning strategies and internal capital adequacy processes, including the... presentation of a company's capital planning strategies and capital adequacy processes that includes (i) An...

  6. Is Capitalism Ethical?

    Directory of Open Access Journals (Sweden)

    Suciu T.

    2009-12-01

    Full Text Available The author of this paper have set off from the question: is the present capitalism ethical? We started with the delimitation and correlation of the concepts of ethics, morals, morality. Further on, we analysed the evolution of capitalism in connection with morals. Based on this research, we came to the conclusion that the capitalist system has undergone through three stages: moral capitalism, amoral capitalism, and immoral capitalism. We concluded by implying that the corporate capitalist society is immoral, that it cannot regulate itself and that the government’s assistance is needed to inoculate the ethics.

  7. High Cost/High Risk Components to Chalcogenide Molded Lens Model: Molding Preforms and Mold Technology

    Energy Technology Data Exchange (ETDEWEB)

    Bernacki, Bruce E.

    2012-10-05

    This brief report contains a critique of two key components of FiveFocal's cost model for glass compression molding of chalcogenide lenses for infrared applications. Molding preforms and mold technology have the greatest influence on the ultimate cost of the product and help determine the volumes needed to select glass molding over conventional single-point diamond turning or grinding and polishing. This brief report highlights key areas of both technologies with recommendations for further study.

  8. A low-cost hierarchical nanostructured beta-titanium alloy with high strength.

    Science.gov (United States)

    Devaraj, Arun; Joshi, Vineet V; Srivastava, Ankit; Manandhar, Sandeep; Moxson, Vladimir; Duz, Volodymyr A; Lavender, Curt

    2016-04-01

    Lightweighting of automobiles by use of novel low-cost, high strength-to-weight ratio structural materials can reduce the consumption of fossil fuels and in turn CO2 emission. Working towards this goal we achieved high strength in a low cost β-titanium alloy, Ti-1Al-8V-5Fe (Ti185), by hierarchical nanostructure consisting of homogenous distribution of micron-scale and nanoscale α-phase precipitates within the β-phase matrix. The sequence of phase transformation leading to this hierarchical nanostructure is explored using electron microscopy and atom probe tomography. Our results suggest that the high number density of nanoscale α-phase precipitates in the β-phase matrix is due to ω assisted nucleation of α resulting in high tensile strength, greater than any current commercial titanium alloy. Thus hierarchical nanostructured Ti185 serves as an excellent candidate for replacing costlier titanium alloys and other structural alloys for cost-effective lightweighting applications.

  9. Low-cost high-quality crystalline germanium based flexible devices

    KAUST Repository

    Nassar, Joanna M.

    2014-06-16

    High performance flexible electronics promise innovative future technology for various interactive applications for the pursuit of low-cost, light-weight, and multi-functional devices. Thus, here we show a complementary metal oxide semiconductor (CMOS) compatible fabrication of flexible metal-oxide-semiconductor capacitors (MOSCAPs) with high-κ/metal gate stack, using a physical vapor deposition (PVD) cost-effective technique to obtain a high-quality Ge channel. We report outstanding bending radius ~1.25 mm and semi-transparency of 30%.

  10. The high intensity solar cell: Key to low cost photovoltaic power

    Science.gov (United States)

    Sater, B. L.; Goradia, C.

    1975-01-01

    The design considerations and performance characteristics of the 'high intensity' (HI) solar cell are presented. A high intensity solar system was analyzed to determine its cost effectiveness and to assess the benefits of further improving HI cell efficiency. It is shown that residential sized systems can be produced at less than $1000/kW peak electric power. Due to their superior high intensity performance characteristics compared to the conventional and VMJ cells, HI cells and light concentrators may be the key to low cost photovoltaic power.

  11. Educational Cost Analysis.

    Science.gov (United States)

    Flynn, Donald L.

    Traditional approaches to the cost analysis of educational programs involve examining annual budgets. Such approaches do not properly consider the cost of either new capital expenditures or the current value of previously purchased items. This paper presents the methodology for a new approach to educational cost analysis that identifies the actual…

  12. Capital investment as a basis for innovative enterprises’ capacity development

    Directory of Open Access Journals (Sweden)

    V.V. Shekman

    2013-03-01

    Full Text Available The aim of the article. The purpose of the article is to study the matter of investment in fixed capital of Ukraines enterprises as a basis of country innovation development and to determine the role of fixed capital investments in innovative development providing.The results of the analysis. In the article the structure and the volume of foreign investments attracting to the national economy of Ukraine during 2003-2012 are analyzed. It is determined that in spite of annual positive foreign investments volume growth in compare to the previous year the dynamic shows the investment climate deterioration because of the investment runoff. The determined trends show the problem in providing a countrys sunstainable economic development in the innovative aspect. The basis of the countrys innovative development is the investment activation into the enterprises fixed capital. The economic activity of the subjects of economy and the level of their competitiveness in domestic and foreign markets are determined by the essential level of fixed capital funds. They are the basis of the enterprise productive process. According to the analysis Ukrainian enterprises have a high level of fixed capital consumption. The rate of investments aimed to renovate fixed capital is too small. The volumes of fixed capital funds renovation and reproduction financing at the domestic enterprises reduced according to the reduction production volume and joint profits. The main source of fixed capital funds reproduction at the industrial enterprises of Ukraine is the main financial assets of the enterprise. The catastrophic lack of internal and external funds was the reason why heads of enterprises refused to implement new innovative projects and carry out all required actions on calling in accumulated credit obligations to the counteragents.Investment increasing will make it possible to renew enterprises fixed capital funds, to reorganize the coproduction and to balance the

  13. Low–Cost Bio-Based Carbon Fiber for High-Temperature Processing

    Energy Technology Data Exchange (ETDEWEB)

    Naskar, Amit K. [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Akato, Kokouvi M. [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Tran, Chau D. [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Paul, Ryan M. [GrafTech International Holdings, Inc., Brooklyn Heights, OH (United States); Dai, Xuliang [GrafTech International Holdings, Inc., Brooklyn Heights, OH (United States)

    2017-02-01

    GrafTech International Holdings Inc. (GTI), worked with Oak Ridge National Laboratory (ORNL) under CRADA No. NFE-15-05807 to develop lignin-based carbon fiber (LBCF) technology and to demonstrate LBCF performance in high-temperature products and applications. This work was unique and different from other reported LBCF work in that this study was application-focused and scalability-focused. Accordingly, the executed work was based on meeting criteria based on technology development, cost, and application suitability. The focus of this work was to demonstrate lab-scale LBCF from at least 4 different precursor feedstock sources that could meet the estimated production cost of $5.00/pound and have ash level of less than 500 ppm in the carbonized insulation-grade fiber. Accordingly, a preliminary cost model was developed based on publicly available information. The team demonstrated that 4 lignin samples met the cost criteria, as highlighted in Table 1. In addition, the ash level for the 4 carbonized lignin samples were below 500 ppm. Processing asreceived lignin to produce a high purity lignin fiber was a significant accomplishment in that most industrial lignin, prior to purification, had greater than 4X the ash level needed for this project, and prior to this work there was not a clear path of how to achieve the purity target. The lab scale development of LBCF was performed with a specific functional application in mind, specifically for high temperature rigid insulation. GTI is currently a consumer of foreignsourced pitch and rayon based carbon fibers for use in its high temperature insulation products, and the motivation was that LBCF had potential to decrease costs and increase product competitiveness in the marketplace through lowered raw material costs, lowered energy costs, and decreased environmental footprint. At the end of this project, the Technology Readiness Level (TRL) remained at 5 for LBCF in high temperature insulation.

  14. Low-Cost Bio-Based Carbon Fibers for High Temperature Processing

    Energy Technology Data Exchange (ETDEWEB)

    Paul, Ryan Michael [GrafTech International, Brooklyn Heights, OH (United States); Naskar, Amit [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)

    2017-08-03

    GrafTech International Holdings Inc. (GTI), under Award No. DE-EE0005779, worked with Oak Ridge National Laboratory (ORNL) under CRADA No. NFE-15-05807 to develop lignin-based carbon fiber (LBCF) technology and to demonstrate LBCF performance in high-temperature products and applications. This work was unique and different from other reported LBCF work in that this study was application-focused and scalability-focused. Accordingly, the executed work was based on meeting criteria based on technology development, cost, and application suitability. High-temperature carbon fiber based insulation is used in energy intensive industries, such as metal heat treating and ceramic and semiconductor material production. Insulation plays a critical role in achieving high thermal and process efficiency, which is directly related to energy usage, cost, and product competitiveness. Current high temperature insulation is made with petroleum based carbon fibers, and one goal of this protect was to develop and demonstrate an alternative lignin (biomass) based carbon fiber that would achieve lower cost, CO2 emissions, and energy consumption and result in insulation that met or exceeded the thermal efficiency of current commercial insulation. In addition, other products were targeted to be evaluated with LBCF. As the project was designed to proceed in stages, the initial focus of this work was to demonstrate lab-scale LBCF from at least 4 different lignin precursor feedstock sources that could meet the estimated production cost of $5.00/pound and have ash level of less than 500 ppm in the carbonized insulation-grade fiber. Accordingly, a preliminary cost model was developed based on publicly available information. The team demonstrated that 4 lignin samples met the cost criteria. In addition, the ash level for the 4 carbonized lignin samples was below 500 ppm. Processing as-received lignin to produce a high purity lignin fiber was a significant accomplishment in that most industrial

  15. Emerging Forms of Cultural Capital

    DEFF Research Database (Denmark)

    Prieur, Annick; Savage, Mike

    or preferences can be demonstrated, and how the move can be made from observing structured oppositions in cultural consumptions to claims about the existence of cultural capital? We note that current research frequently lack a clear argument about how the cultural forms possessed by the culturally privileged...... Distinction about the significance and content of emerging forms of cultural capital in different Western societies. Among the claims to be discussed are the following: - the claim about a decline in the adherence to traditional highbrow or classic high culture - the claim about increased omnivorousness and...... - the claims that there are forms of emotional, subcultural or national cultural capital at work - The claim about cosmopolitanism or an international orientation as a distinctive feature of the culturally privileged classes The paper responds to the first theme announced in the call for this conference...

  16. Testing the Relationship between Interest Rates Volatility and Market Capitalization: the case of Mauritius

    Directory of Open Access Journals (Sweden)

    Edesiri Godsday Okoro

    2014-12-01

    Full Text Available This paper tests the relationship between interest rates volatility and market capitalization in Mauritius. Using annual time series data sourced from the Financial Services Commission Annual Statistical Bulletin of Mauritius during the period 2006 through 2010, data of interest rates volatility and market capitalization were estimated in a non-linear model using the Vector Auto-regression technique. The study found that interest rates volatility has significant effect on the level of market capitalization although a negative effect. This implies a negative relationship between interest rates volatility and market capitalization. Thus, if market capitalization is affected by interest rates, then the economy becomes highly susceptible to volatile external distress. This indicates some dangers for the economic survival of Mauritius. It was on this note that we recommended an effective policy aimed at stabilizing macroeconomic variable like interest rates, focusing at the same time on alternative measures of promoting market capitalization if aggregate economic growth must be harnessed. Policymakers should design the optimal policy mix that would help the nation cope efficiently with the economic and social costs of the external distress accompanying higher and dwindling interest rates in Mauritius.

  17. Human Capital Diversification within the Household

    DEFF Research Database (Denmark)

    Lilleør, Helene Bie

    bear the costs of educating all their children and face uncertainty about the level and share of future returns. This uncertainty can make it optimal for parents to ensure a certain degree of human capital diversification within the household. The model implications allow me to test whether...... it is the need for diversification or the costs of schooling that dominate the human capital investment decision in rural households. Using extraordinary long panel data from a rural region in Northwestern Tanzania, I find strong empirical evidence of diversification effects for rural sons, but not for rural...

  18. Human Capital and Knowledge Emergence. Induced Effects of the Global Crisis on Human capital and Innovation

    Directory of Open Access Journals (Sweden)

    Simona Buta

    2014-12-01

    Full Text Available In the global crisis context crossed by organizations and countries in the past six years we assist also at conflicting measures in which regards knowledge, innovation and human capital; for example, countries such as England and France have reduced their costs for education, while Germany and other countries (Australia, Austria, Canada and Norway maintained the same allocations for education. What will be the effects of such measures on human capital in the near future? What are the best human resources policies in companies in the crisis context? Given that the subject of the research is "knowledge and human capital", in this paper we refer to the induced effects of the crisis on human capital and innovation. We will also identify the key steps that can be taken during crisis, and not only, to stimulate human capital.

  19. THE EFFECT OF HUMAN CAPITAL ON SOCIAL CAPITAL AMONG ENTREPRENEURS

    OpenAIRE

    HANNES OTTÓSSON; KIM KLYVER

    2010-01-01

    Using data collected from 714 entrepreneurs in a random sample of 10,000 Danes, this study provides an investigation of the effect of human capital on social capital among entrepreneurs. Previous entrepreneurship research has extensively investigated the separated effect of human capital and social capital on different entrepreneurial outputs. The study takes a step back and investigates how these two capital concepts are related — specifically how human capital influences social capital. In ...

  20. THE EFFECT OF HUMAN CAPITAL ON SOCIAL CAPITAL AMONG ENTREPRENEURS

    OpenAIRE

    HANNES OTTÓSSON; KIM KLYVER

    2010-01-01

    Using data collected from 714 entrepreneurs in a random sample of 10,000 Danes, this study provides an investigation of the effect of human capital on social capital among entrepreneurs. Previous entrepreneurship research has extensively investigated the separated effect of human capital and social capital on different entrepreneurial outputs. The study takes a step back and investigates how these two capital concepts are related — specifically how human capital influences social capital. In ...

  1. Substance use in rural adolescents: The impact of social capital, anti-social capital, and social capital deprivation.

    Science.gov (United States)

    Evans, Caroline B R; Cotter, Katie L; Rose, Roderick A; Smokowski, Paul R

    2016-01-01

    Middle- and high-school substance use is a pressing public health problem in the United States. Despite similar or, in some cases, elevated rates of substance use among rural youth, much of the extant research on adolescent substance use has focused on urban areas. The current study aims to uncover forms of social capital (e.g., ethnic identity), social capital deprivation (e.g., parent-child conflict), and anti-social capital (e.g., delinquent friends) that impact the use of alcohol, cigarettes, and marijuana in a sample of middle- and high-school students from the rural south. It was hypothesized that social capital factors would be associated with decreased substance use while social capital deprivation and anti-social capital factors would be associated with increased substance use. The hypotheses were tested using logistic regression models with generalized estimating equations. The findings indicated that for middle school youth, anti-social capital in the form of aggression and delinquent friends was significantly associated with an increased likelihood of using alcohol, cigarettes, and marijuana. For high school students, anti-social capital in the form of aggression and delinquent friends and social capital deprivation in the form of neighborhood crime were significantly associated with an increased likelihood of using alcohol, cigarettes, and marijuana. Violent behavior was also significantly associated with an increased likelihood of using marijuana. Females reported less substance use in both middle and high school; reports of use increased with age. Implications are discussed. Given the salience of social capital deprivation, substance use programs should emphasize the skills necessary to avoid or disengage from antisocial relationships.

  2. Second Generation Novel High Temperature Commercial Receiver & Low Cost High Performance Mirror Collector for Parabolic Solar Trough

    Energy Technology Data Exchange (ETDEWEB)

    Stettenheim, Joel [Norwich Technologies, White River Junction, VT (United States)

    2016-02-29

    Norwich Technologies (NT) is developing a disruptively superior solar field for trough concentrating solar power (CSP). Troughs are the leading CSP technology (85% of installed capacity), being highly deployable and similar to photovoltaic (PV) systems for siting. NT has developed the SunTrap receiver, a disruptive alternative to vacuum-tube concentrating solar power (CSP) receivers, a market currently dominated by the Schott PTR-70. The SunTrap receiver will (1) operate at higher temperature (T) by using an insulated, recessed radiation-collection system to overcome the energy losses that plague vacuum-tube receivers at high T, (2) decrease acquisition costs via simpler structure, and (3) dramatically increase reliability by eliminating vacuum. It offers comparable optical efficiency with thermal loss reduction from ≥ 26% (at presently standard T) to ≥ 55% (at high T), lower acquisition costs, and near-zero O&M costs.

  3. MAPPING EUROPEAN CAPITAL MARKETS TENDENCIES

    Directory of Open Access Journals (Sweden)

    Andreea Avadanei

    2011-01-01

    Full Text Available The scope of this paper is to analyze the main tendencies influencing European capitalmarkets development. In order to point out their implications, we structured our study onfour chapters. The first one illustrates the consolidation of stock exchanges at the Europeanlevel; the seconds presents some considerations about the deregulation/re-regulation of EUcapital markets; the third section highlights the globalization implications on their evolutionand the fourth one indicates the effects of financial innovation. The progressive integrationof European capital markets over the past decade contributed to the lowering of capital costas a result of increased risk diversification opportunities and reduced transaction costs dueto the specialization of financial system provisions. Moreover, the expansion of thesemarkets improved firms financing decisions, leading to an increased share of non-bankfunding sources.

  4. Manufacturing Capital Lingers in the Stock Market

    Institute of Scientific and Technical Information of China (English)

    吴程涛; 段铸; 张景宇; 张曙光

    2008-01-01

    Pressured by a slowdown in exports, cost increases and dwindling returns to manufacturing investments, China’s manufacturing capital has begun to shift to the real-estate and stock markets. As a matter of fact, the stock market had already felt a shock a couple of years ago when top domestic manufacturers like Midea, Gree, TCL and LMZ started to invest their idle capital in the real-estate and stock markets. Investments of manufacturing capital in both the real estate and stock markets have increased fluid capital and pushed up the value of both markets. Booms in both markets have in turn guaranteed investment returns of manufacturing capital, which further increased the stock market valuations of manufacturing capital. Such a cycle has created interest chains between listed manufacturers, the stock market and the real-estate market. Along with the ups and downs of the stock and real-estate markets, manufacturing capital now faces a dilemma: to escape or to persist? Where should it escape? When can the markets be profitable again? Just like the classic Shakespearean question: to be or not to be, that is the question.

  5. Assessing Risk in Costing High-energy Accelerators: from Existing Projects to the Future Linear Collider

    CERN Document Server

    Lebrun, Philippe

    2010-01-01

    High-energy accelerators are large projects funded by public money, developed over the years and constructed via major industrial contracts both in advanced technology and in more conventional domains such as civil engineering and infrastructure, for which they often constitute one-of markets. Assessing their cost, as well as the risk and uncertainty associated with this assessment is therefore an essential part of project preparation and a justified requirement by the funding agencies. Stemming from the experience with large circular colliders at CERN, LEP and LHC, as well as with the Main Injector, the Tevatron Collider Experiments and Accelerator Upgrades, and the NOvA Experiment at Fermilab, we discuss sources of cost variance and derive cost risk assessment methods applicable to the future linear collider, through its two technical approaches for ILC and CLIC. We also address disparities in cost risk assessment imposed by regional differences in regulations, procedures and practices.

  6. Functions of Relationship Capital in Rural Public Sports Service

    Institute of Scientific and Technical Information of China (English)

    Wanjing; ZHU

    2014-01-01

    The field survey of two natural villages found that the relationship capital plays an important role in rural public sports service benefiting from the rural elite operation mode. However,negative effect brought by the relationship capital should not be neglected,including distorting the social equity,increasing social transaction cost,and weakening the public trust in government. It is a top priority to effectively evade its negative effect and bring into full play huge potential of the relationship capital.

  7. Cost-utility and cost-effectiveness analyses of a long-term, high-intensity exercise program compared with conventional physical therapy in patients with rheumatoid arthritis.

    NARCIS (Netherlands)

    Hout, W.B. van den; Jong, Z. de; Munneke, M.; Hazes, J.M.W.; Breedveld, F.C.; Vliet Vlieland, T.P.M.

    2005-01-01

    OBJECTIVE: To estimate the cost utility and cost effectiveness of long-term, high-intensity exercise classes compared with usual care in rheumatoid arthritis (RA) patients. METHODS: RA patients (n = 300) were randomly assigned to either exercise classes or UC; followup lasted for 2 years. Outcome me

  8. Cost-utility and cost-effectiveness analyses of a long-term, high-intensity exercise program compared with conventional physical therapy in patients with rheumatoid arthritis.

    NARCIS (Netherlands)

    Hout, W.B. van den; Jong, Z. de; Munneke, M.; Hazes, J.M.W.; Breedveld, F.C.; Vliet Vlieland, T.P.M.

    2005-01-01

    OBJECTIVE: To estimate the cost utility and cost effectiveness of long-term, high-intensity exercise classes compared with usual care in rheumatoid arthritis (RA) patients. METHODS: RA patients (n = 300) were randomly assigned to either exercise classes or UC; followup lasted for 2 years. Outcome me

  9. FAIR VALUE IMPLICATIONS ON ROMANIAN CAPITAL MARKET

    Directory of Open Access Journals (Sweden)

    Ciprian-Dan COSTEA

    2014-12-01

    Full Text Available Fair value generated intense debate during the last years, as the financial turmoil influenced many economies and capital markets, including the Romanian ones, too. Some researchers and professionals consider fair value in charge with the financial crisis and they ask for historical cost accounting basis for financial reporting. Fair value has its supporters, too. They consider that fair value reflects the effects of changes in market conditions when they take place, and accounting information is more reliable in this framework. Following recent regulations, Romanian entities activating on capital market as investors in capital market instruments, or whose shares are traded on a regulated market, must prepare their individual financial statements in accordance with the International Financial Reporting Standards. The study provides some conclusions that could enlarge the utility of fair value related to entities that activate on Romanian capital market.

  10. A low-cost hierarchical nanostructured beta-titanium alloy with high strength

    OpenAIRE

    Devaraj, Arun; Joshi, Vineet V.; Srivastava, Ankit; Manandhar, Sandeep; Moxson, Vladimir; Duz, Volodymyr A.; Lavender, Curt

    2016-01-01

    Lightweighting of automobiles by use of novel low-cost, high strength-to-weight ratio structural materials can reduce the consumption of fossil fuels and in turn CO2 emission. Working towards this goal we achieved high strength in a low cost β-titanium alloy, Ti–1Al–8V–5Fe (Ti185), by hierarchical nanostructure consisting of homogenous distribution of micron-scale and nanoscale α-phase precipitates within the β-phase matrix. The sequence of phase transformation leading to this hierarchical na...

  11. Comparing the assets of uninsured households to cost sharing under high-deductible health plans.

    Science.gov (United States)

    Jacobs, Paul D; Claxton, Gary

    2008-01-01

    Financial assets are relevant when one is assessing whether high-deductible plans, which require greater up-front cost sharing, are worthwhile for the uninsured. We show that uninsured households have less financial assets compared to the insured; at lower income levels, their net financial assets may even be negative. Although lower premiums may increase the ability of the uninsured to buy some coverage, high out-of-pocket liability may leave families exposed to costs that they cannot meet. Paying premiums for a policy that exposes the uninsured to unaffordable medical bills may be viewed as an uneconomical use of their limited assets.

  12. A High-Value Best-Value Approach to Public Shipyard Human Capital Management to Improve Ship Availability

    Science.gov (United States)

    2015-09-01

    contract for ongoing employment ” (Cohany 1996, 1). According to the BLS February 1995 CPS, 12 million persons or 10 percent of the working U.S. population...and regulations are not followed, the firing may be reversed with penalties assessed to the employer (Langford 2015, personal communication...for personal injury or death) (Kiker 1966). Historically, the value of human beings was measured by two distinct methods: the cost-of-production and

  13. A cost analysis of a pancreatic cancer screening protocol in high-risk populations.

    Science.gov (United States)

    Bruenderman, Elizabeth; Martin, Robert C G

    2015-09-01

    Pancreatic cancer is the 4th leading cause of cancer death in the United States. A screening protocol is needed to catch early-stage, resectable disease. This study suggests a protocol for high-risk individuals and assesses the cost in the context of the Affordable Care Act. Medicare and national average pricing were used for cost analysis of a protocol using magnetic resonance imaging/MRCP biannually in high-risk groups. Costs per year of life added" based on Medicare and national average costs, respectively, are as follows: $638.62 and $2,542.37 for Peutz-Jeghers syndrome, $945.33 and $3,763.44 for hereditary pancreatitis, $1,141.77 and $4,545.45 for familial pancreatic cancer and "p16-Leiden" mutations, and $356.42 and $1,418.92 for new-onset diabetes over age 50 with weight loss or smoking. A screening program using magnetic resonance imaging/MRCP is affordable in high-risk populations. The United States Preventive Services Task Force must re-evaluate its pancreatic cancer screening guidelines to make screening more cost-effective for the individual. Copyright © 2015 Elsevier Inc. All rights reserved.

  14. Refining Our Understanding of Value-Based Insurance Design and High Cost Sharing on Children.

    Science.gov (United States)

    Ellis, Randall P; Bachman, Sara S; Tan, Hui Ren

    2017-05-01

    There is significant concern about the financial burdens of new insurance plan designs on families, particularly families with children and youth with special health care needs (CYSHCN). With value-based insurance design (VBID) plans growing in popularity, this study examined the implications of selected VBID cost-sharing features on children. We studied children's health care spending patterns in 2 data sets that include high deductible and narrow network plans among others. Medical Expenditure Panel Survey data from 2007 to 2013 on 22 392 children were used to study out-of-pocket (OOP) costs according to CYSHCN, family income, and spending. MarketScan large employer insurance claims data from 2007 to 2014 (N = 4 263 452) were used to test for differences in mean total payments and OOP costs across various health plans. Across the data sets, we found that existing health plans place significant financial burdens on families, particularly lower income households and families with CYSHCN; individuals among the top 10% of OOP spending averaged more than $2000 per child. Although high deductible and consumer-driven plans impose substantial OOP costs on children, they do not significantly reduce spending, whereas health maintenance organizations that use network restrictions and tighter management do. Our results do not support the conclusion that high cost-sharing features that are common in VBID plans will significantly reduce health care spending on children. Copyright © 2017 by the American Academy of Pediatrics.

  15. Achievements of Capital Construction of Onshore Petroleum Industry

    Institute of Scientific and Technical Information of China (English)

    Jia Jinhui

    1994-01-01

    @@ In 40 years since the founding of new China,the capital construction of onshore petroleum was greatly developed, a capital construction system with rational structure and complete specialities was formed, and a capital construction battalion for petroleum with high technical quality was established.

  16. Capital semilla para la financiación de start ups con alto potencial de crecimiento en Colombia = Seed capital for financing the stat ups with a growing high potential in Colombia

    Directory of Open Access Journals (Sweden)

    Germán Fracica Naranjo

    2011-08-01

    Les expériences tirées de la création d’entreprises à fort potentiel de croissance des pays à succès montrent que certains des facteurs ayant le plus contribués à la survie de l’entreprise sont le financement du capital-risque et le soutien reçu aux différentes étapes de leur gestation ou lors de traversée du désert. L’investigation a été effectuée par le biais d’un travail documentaire et par différents entretiens approfondis réalisés avec des responsables de fonds de capital-risque existant en Colombie. Cette investigation a pu déterminer l’offre de ces ressources et les enseignements tirés de ces expériences.

  17. Toward Low-Cost, High-Energy Density, and High-Power Density Lithium-Ion Batteries

    Science.gov (United States)

    Li, Jianlin; Du, Zhijia; Ruther, Rose E.; AN, Seong Jin; David, Lamuel Abraham; Hays, Kevin; Wood, Marissa; Phillip, Nathan D.; Sheng, Yangping; Mao, Chengyu; Kalnaus, Sergiy; Daniel, Claus; Wood, David L.

    2017-06-01

    Reducing cost and increasing energy density are two barriers for widespread application of lithium-ion batteries in electric vehicles. Although the cost of electric vehicle batteries has been reduced by 70% from 2008 to 2015, the current battery pack cost (268/kWh in 2015) is still >2 times what the USABC targets (125/kWh). Even though many advancements in cell chemistry have been realized since the lithium-ion battery was first commercialized in 1991, few major breakthroughs have occurred in the past decade. Therefore, future cost reduction will rely on cell manufacturing and broader market acceptance. This article discusses three major aspects for cost reduction: (1) quality control to minimize scrap rate in cell manufacturing; (2) novel electrode processing and engineering to reduce processing cost and increase energy density and throughputs; and (3) material development and optimization for lithium-ion batteries with high-energy density. Insights on increasing energy and power densities of lithium-ion batteries are also addressed.

  18. Toward Low-Cost, High-Energy Density, and High-Power Density Lithium-Ion Batteries

    Science.gov (United States)

    Li, Jianlin; Du, Zhijia; Ruther, Rose E.; AN, Seong Jin; David, Lamuel Abraham; Hays, Kevin; Wood, Marissa; Phillip, Nathan D.; Sheng, Yangping; Mao, Chengyu; Kalnaus, Sergiy; Daniel, Claus; Wood, David L.

    2017-09-01

    Reducing cost and increasing energy density are two barriers for widespread application of lithium-ion batteries in electric vehicles. Although the cost of electric vehicle batteries has been reduced by 70% from 2008 to 2015, the current battery pack cost (268/kWh in 2015) is still >2 times what the USABC targets (125/kWh). Even though many advancements in cell chemistry have been realized since the lithium-ion battery was first commercialized in 1991, few major breakthroughs have occurred in the past decade. Therefore, future cost reduction will rely on cell manufacturing and broader market acceptance. This article discusses three major aspects for cost reduction: (1) quality control to minimize scrap rate in cell manufacturing; (2) novel electrode processing and engineering to reduce processing cost and increase energy density and throughputs; and (3) material development and optimization for lithium-ion batteries with high-energy density. Insights on increasing energy and power densities of lithium-ion batteries are also addressed.

  19. Sliver Solar Cells: High-Efficiency, Low-Cost PV Technology

    Directory of Open Access Journals (Sweden)

    Evan Franklin

    2007-01-01

    Full Text Available Sliver cells are thin, single-crystal silicon solar cells fabricated using standard fabrication technology. Sliver modules, composed of several thousand individual Sliver cells, can be efficient, low-cost, bifacial, transparent, flexible, shadow tolerant, and lightweight. Compared with current PV technology, mature Sliver technology will need 10% of the pure silicon and fewer than 5% of the wafer starts per MW of factory output. This paper deals with two distinct challenges related to Sliver cell and Sliver module production: providing a mature and robust Sliver cell fabrication method which produces a high yield of highly efficient Sliver cells, and which is suitable for transfer to industry; and, handling, electrically interconnecting, and encapsulating billions of sliver cells at low cost. Sliver cells with efficiencies of 20% have been fabricated at ANU using a reliable, optimised processing sequence, while low-cost encapsulation methods have been demonstrated using a submodule technique.

  20. Costs of high-field superconducting strands for particle accelerator magnets

    CERN Document Server

    Cooley, L D; Scanlan, R M; 10.1088/0953-2048/18/4/R01

    2005-01-01

    The costs of superconducting magnet strands are compared by calculating a 'production scaling factor' P that relates purchase data to the cost of raw materials. Using a consistent method, we normalize for different conductor geometries and strand diameters to arrive at cost indices in $ kg/sup -1/, $ m/sup -1/, and $ kA/sup -1/ m/sup -1/. Analyses of Nb47Ti conductors taken from the past 25 years of high-field magnet projects reveal that the price of raw materials and, to a lesser extent, finished strands, have tracked the price of niobium pentoxide. Performance gains during the 1980s produced $ kA /sup -1/ m/sup -1/ indices that fell with time ahead of strand cost in $ m/sup -1/, a situation that may reflect the present status of Nb /sub 3/Sn magnet conductors. Analyses of present materials show that P decreases systematically with billet mass. While production strands in 200-500 kg billets have costs ~3 times the cost of raw materials, the 20-50 kg billet size for internal-tin Nb/sub 3/Sn composites drives ...

  1. Individual variation in reproductive costs of reproduction: high-quality females always do better.

    Science.gov (United States)

    Hamel, Sandra; Côté, Steeve D; Gaillard, Jean-Michel; Festa-Bianchet, Marco

    2009-01-01

    1. Although life-history theory predicts substantial costs of reproduction, individuals often show positive correlations among life-history traits, rather than trade-offs. The apparent absence of reproductive costs may result from heterogeneity in individual quality. 2. Using detailed longitudinal data from three contrasted ungulate populations (mountain goats, Oreamnos americanus; bighorn sheep, Ovis canadensis; and roe deer, Capreolus capreolus), we assessed how individual quality affects the probability of detecting a cost of current reproduction on future reproduction for females. We used a composite measure of individual quality based on variations in longevity (all species), success in the last breeding opportunity before death (goats and sheep), adult mass (all species), and social rank (goats only). 3. In all species, high-quality females consistently had a higher probability of reproduction, irrespective of previous reproductive status. In mountain goats, we detected a cost of reproduction only after accounting for differences in individual quality. Only low-quality female goats were less likely to reproduce following years of breeding than of nonbreeding. Offspring survival was lower in bighorn ewes following years of successful breeding than after years when no lamb was produced, but only for low-quality females, suggesting that a cost of reproduction only occurred for low-quality females. 4. Because costs of reproduction differ among females, studies of life-history evolution must account for heterogeneity in individual quality.

  2. How do high cost-sharing policies for physician care affect inpatient care use and costs among people with chronic disease?

    Science.gov (United States)

    Xin, Haichang

    2015-01-01

    Rapidly rising health care costs continue to be a significant concern in the United States. High cost-sharing strategies thus have been widely used to address rising health care costs. Since high cost-sharing policies can reduce needed care as well as unneeded care use, it raises the concern whether these policies for physician care are a good strategy for controlling costs among chronically ill patients, especially whether utilization and costs in inpatient care will increase in response. This study examined whether high cost sharing in physician care affects inpatient care utilization and costs differently between individuals with and without chronic conditions. Findings from this study will contribute to the insurance benefit design that can control care utilization and save costs of chronically ill individuals. Prior studies suffered from gaps that limit both internal validity and external validity of their findings. This study has its unique contributions by filling these gaps jointly. The study used data from the 2007 Medical Expenditure Panel Survey, a nationally representative sample, with a cross-sectional study design. Instrumental variable technique was used to address the endogeneity between health care utilization and cost-sharing levels. We used negative binomial regression to analyze the count data and generalized linear models for costs data. To account for national survey sampling design, weight and variance were adjusted. The study compared the effects of high cost-sharing policies on inpatient care utilization and costs between individuals with and without chronic conditions to answer the research question. The final study sample consisted of 4523 individuals; among them, 752 had hospitalizations. The multivariate analysis demonstrated consistent patterns. Compared with low cost-sharing policies, high cost-sharing policies for physician care were not associated with a greater increase in inpatient care utilization (P = .86 for chronically ill

  3. Handbook of Social Capital

    DEFF Research Database (Denmark)

    The Handbook of Social Capital balances the ‘troika' of sociology, political science and economics by offering important contributions to the study of bonding and bridging social capital networks. This inter-disciplinary Handbook intends to serve as a bridge for students and scholars within all...... the social sciences. The contributors explore the different scientific approaches that are all needed if international research is to embrace both the bright and the more shadowy aspects of social capital....

  4. Modern Human Capital Management

    OpenAIRE

    Feldberger, Madita

    2008-01-01

    Title: Modern Human Capital Management Seminar date: 30th of May 2008 Course: Master thesis in Business Administration, 15 ECTS Authors: Madita Feldberger Supervisor: Lars Svensson Keywords: Human capital, SWOT Analysis, Strategic Map, Balanced Scorecard Research Problem: Despite of the success of Human Capital Management (HCM) in research it did not arrive yet in the HR departments of many companies. Numerous firms even have problems to set their strategic goals with focus on HR. The HR Bala...

  5. Institutions and Venture Capital

    OpenAIRE

    Lerner, Josh; Tåg, Joacim

    2012-01-01

    We survey the literature on venture capital and institutions and present a case study comparing the development of the venture capital market in the US to Sweden. Our literature survey underscores that the legal environment, financial market development, the tax system, labor market regulations, and public spending on research and development correlates with venture capital activities across countries. Our case study suggests these institutional differences led to the later development of an ...

  6. Estimation of costs for control of Salmonella in high-risk feed materials and compound feed

    Directory of Open Access Journals (Sweden)

    Martin Wierup

    2014-06-01

    Full Text Available Introduction: Feed is a potential and major source for introducing Salmonella into the animal-derived food chain. This is given special attention in the European Union (EU efforts to minimize human food-borne Salmonella infections from animal-derived food. The objective of this study was to estimate the total extra cost for preventing Salmonella contamination of feed above those measures required to produce commercial feed according to EU regulation (EC No 183/2005. The study was carried out in Sweden, a country where Salmonella infections in food-producing animals from feed have largely been eliminated. Methods: On the initiative and leadership of the competent authority, the different steps of feed production associated with control of Salmonella contamination were identified. Representatives for the major feed producers operating in the Swedish market then independently estimated the annual mean costs during the years 2009 and 2010. The feed producers had no known incentives to underestimate the costs. Results and discussion: The total cost for achieving a Salmonella-safe compound feed, when such a control is established, was estimated at 1.8–2.3 € per tonne of feed. Of that cost, 25% relates to the prevention of Salmonella contaminated high-risk vegetable feed materials (mainly soybean meal and rapeseed meal from entering feed mills, and 75% for measures within the feed mills. Based on the feed formulations applied, those costs in relation to the farmers’ 2012 price for compound feed were almost equal for broilers and dairy cows (0.7%. Due to less use of protein concentrate to fatten pigs, the costs were lower (0.6%. These limited costs suggest that previous recommendations to enforce a Salmonella-negative policy for animal feed are realistic and economically feasible to prevent a dissemination of the pathogen to animal herds, their environment, and potentially to human food products.

  7. Corruption and the Efficiency of Capital Investment in Developing Countries

    DEFF Research Database (Denmark)

    O’Toole, Conor M.; Tarp, Finn

    2014-01-01

    This paper tests the effect of corruption on the efficiency of capital investment. Using firm-level data from the World Bank Enterprise Surveys, covering 90 developing and transition economies, we consider whether the cost of informal bribe payments distorts the efficient allocation of capital...

  8. THE MARKET VALUE OF HUMAN CAPITAL: AN EMPIRICAL ANALYSIS

    Directory of Open Access Journals (Sweden)

    NEAGU OLIMPIA

    2012-12-01

    Full Text Available There is a general consensus that human capital is a major determinant of economic growth. Reflections on how human capital is related to growth can be extended by viewing on the market value of the human capital. The concept of the market value of human capital reflects the efficiency of allocation and utilisation of the human capital in the economy. To measure this efficiency the concept of the market value of human capital is explained and developed in the present paper. The aim of the paper is to introduce the concept of market value of human capital and the specific objectives are targeted to define his content, to propose a method for estimating it and to provide calculations of it for OECD countries. The concept of human capital is complex and multifaceted one, consisting of: native human capital (biological, educational capital, health capital and social skills (Neagu, 2010. Clearly, human capital is intangible, a stock that is not directly observable as physical capital. Therefore, the estimation of human capital must be constructed indirectly. The stock of human capital in economy creates economic value, expressed through the economic output per capita. In order to estimate this economic value we have to find an appropriate proxy for the human capital stock producing that value. In the purpose of our paper, we consider that the economic value of human capital can be estimated by calculating the aggregate value created by the active human capital in the economy. In this view, GDP per person employed is a relevant estimation of value created by the employed labour force. The aggregate value is created by the employed persons with different educational level. The market value of human capital is calculated by dividing the GDP per person employed to the human capital stocks active in the economy. The human capital stock depends on educational costs ( on primary, seconadry, tertiary education as a the share of GDP per capita weighted by the

  9. Human capital in low-tech manufacturing

    DEFF Research Database (Denmark)

    Hansen, Teis; Winther, Lars; Hansen, Ronnie Fibæk

    2014-01-01

    capital appears to be equally important for economic development in low-tech industries and, second, that the divide between the large urban regions, especially Copenhagen, and the rest of the country plays the primary role in explaining the geography of human capital. These findings stress the relevance......An essential feature associated with the rise of the knowledge economy has been the increasing focus on the importance of human capital as a precondition for economic growth. Human capital has been found to have a positive impact on the economic growth of high-tech industries, however......, the influence of human capital on the development of low-tech industries is yet to be analysed. This paper provides such an examination of low-tech industries based on an analysis of employment data within manufacturing industries in Denmark in the period 1993–2006. The findings highlight, first, that human...

  10. Social Capital Database

    DEFF Research Database (Denmark)

    Paldam, Martin; Svendsen, Gert Tinggaard

    2005-01-01

      This report has two purposes: The first purpose is to present our 4-page question­naire, which measures social capital. It is close to the main definitions of social capital and contains the most successful measures from the literature. Also it is easy to apply as discussed. The second purpose ...... is to present the social capital database we have collected for 21 countries using the question­naire. We do this by comparing the level of social capital in the countries covered. That is, the report compares the marginals from the 21 surveys....

  11. Piketty’s Capital

    DEFF Research Database (Denmark)

    Larsen, Øjvind

    2016-01-01

    Piketty’s Capital in Twenty-First Century has posed a totally new platform for the discussion of the economy and capitalism. Piketty has reinvented the classical political economy founded by Adam Smith in his 1776 Wealth of Nations. Piketty has shown via massive historical research how growth...... and inequality have developed since 1793. Piketty’s conclusion is that the French Revolution did not change the existing inequality either in the medium or in the long term. Piketty’s prediction is that a new form of global capitalism will arise, patrimonial capitalism, in which inequality will develop further...

  12. Social Capital Database

    DEFF Research Database (Denmark)

    Paldam, Martin; Svendsen, Gert Tinggaard

    2005-01-01

      This report has two purposes: The first purpose is to present our 4-page question­naire, which measures social capital. It is close to the main definitions of social capital and contains the most successful measures from the literature. Also it is easy to apply as discussed. The second purpose ...... is to present the social capital database we have collected for 21 countries using the question­naire. We do this by comparing the level of social capital in the countries covered. That is, the report compares the marginals from the 21 surveys....

  13. Electronic Capitalization Asset Form

    Data.gov (United States)

    Department of Transportation — National Automated Capitalization Authorization Form used by ATO Engineering Services, Logistics, Accounting for the purpose of identifying and capturing FAA project...

  14. Cost-benefit analysis of esophageal cancer endoscopic screening in high-risk areas of China

    Institute of Scientific and Technical Information of China (English)

    Juan Yang; Wen-Qiang Wei; Jin Niu; Zhi-Cai Liu; Chun-Xia Yang; You-Lin Qiao

    2012-01-01

    AIM:To estimate the cost-benefit of endoscopic screening strategies of esophageal cancer (EC) in high-risk areas of China.METHODS:Markov model-based analyses were conducted to compare the net present values (NPVs) and the benefit-cost ratios (BCRs) of 12 EC endoscopic screening strategies.Strategies varied according to the targeted screening age,screening frequencies,and follow-up intervals.Model parameters were collected from population-based studies in China,published literatures,and surveillance data.RESULTS:Compared with non-screening outcomes,all strategies with hypothetical 100 000 subjects saved life years.Among five dominant strategies determined by the incremental cost-effectiveness analysis,screening once at age 50 years incurred the lowest NPV (international dollar-I$55 million) and BCR (2.52).Screening six times between 40-70 years at a 5-year interval [i.e.,six times(40)f-strategy] yielded the highest NPV (I$99 million) and BCR (3.06).Compared with six times(40)fstrategy,screening thrice between 40-70 years at a 10-year interval resulted in relatively lower NPV,but the same BCR.CONCLUSION:EC endoscopic screening is cost-beneficial in high-risk areas of China.Policy-makers should consider the cost-benefit,population acceptance,and local economic status when choosing suitable screening strategies.

  15. Technology alternatives towards low-cost and high-speed interconnect manufacturing

    NARCIS (Netherlands)

    Roozeboom, F.; Kniknie, B.; Lankhorst, A.M.; Winands, G.; Poodt, P.; Dingemans, G.; Keuning, W.; Kessels, W.M.M.; Bullema, J.E.; Bressers, P.M.M.C.; Oosterhuis, G.; Mueller, M.; Huis in 't Veld, Bert

    2012-01-01

    In this work we will review our recent work on novel alternative and disruptive technology concepts with industrial potential for cost-effective and high-speed interconnect manufacturing, in particular on the creation (drilling and filling) of advanced interconnects like TSVs. These technologies are

  16. The Cost of Empathy: Parent-Adolescent Conflict Predicts Emotion Dysregulation for Highly Empathic Youth

    Science.gov (United States)

    Van Lissa, Caspar J.; Hawk, Skyler T.; Koot, Hans M.; Branje, Susan; Meeus, Wim H. J.

    2017-01-01

    Empathy plays a key role in maintaining close relationships and promoting prosocial conflict resolution. However, research has not addressed the potential emotional cost of adolescents' high empathy, particularly when relationships are characterized by more frequent conflict. The present 6-year longitudinal study (N = 467) investigated whether…

  17. To Your Health: NLM update transcript - High costs of health care

    Science.gov (United States)

    ... https://medlineplus.gov/podcast/transcript022717.html To Your Health: NLM update Transcript High costs of health care : 02/27/2017 To use the sharing ... is what's new this week in To Your Health - a consumer health oriented podcast from NLM - that ...

  18. Technology alternatives towards low-cost and high-speed interconnect manufacturing

    NARCIS (Netherlands)

    Roozeboom, F.; Kniknie, B.; Lankhorst, A.M.; Winands, G.; Poodt, P.; Dingemans, G.; Keuning, W.; Kessels, W.M.M.; Bullema, J.E.; Bressers, P.M.M.C.; Oosterhuis, G.; Mueller, M.; Huis in 't Veld, A.J.

    2012-01-01

    In this work we will review our recent work on novel alternative and disruptive technology concepts with industrial potential for cost-effective and high-speed interconnect manufacturing, in particular on the creation (drilling and filling) of advanced interconnects like TSVs. These technologies are

  19. Rapid and sustained cost management

    Energy Technology Data Exchange (ETDEWEB)

    Hanson, D. [Accenture, New York, NY (United States)

    2009-07-01

    Accenture helps clients develop comprehensive, process-driven strategies for rapid and sustained cost management that leverage deep insights and analytics. This approach enables companies to gain operating cost advantages by rationalizing, simplifying and automating current operating capabilities. It drives structural cost advantages by optimizing business mix, capital structure, organizational structure and geographic presence. This paper discussed how successful companies achieve high performance during times of economic turmoil. It also discussed the value of the winner's strategy in terms of rapid and sustained cost management (RSCM). It discussed how Accenture operates and its leveraged capabilities, improved efficiency, margins and cash flow while maintaining customer service levels. Building structural advantage and the Accenture difference were also discussed. It was concluded that RSCM is one vital way that Accenture can help companies achieve success. 4 figs.

  20. Are Capital Buffers Countercyclical ? An Evidence From Pakistan

    Directory of Open Access Journals (Sweden)

    Romila Qamar

    2016-09-01

    Full Text Available New risk based capital requirement have pro-cyclical effect and causes negative externalities in the economy. During recession, on one side, quality of loan portfolio deteriorates and probability of default increases resulting into increased level of provisions and write off’s and reduced capital level. This causes an increase in capital requirements which becomes more expensive. Weaker banks fail to access new capital and ultimately reduce the credit supply. On the other side, banks are required to maintain the minimum capital which results into credit supply contraction and hits the bank’s profitability leading to a situation called Credit Crunch. This situation may prolong recession. During the crisis, developing countries are more affected than developed countries and this debate is entirely new in Pakistan. This research empirically investigates the pro-cyclical effect of new capital regulation under Basel II using panel data of 47 Pakistani Banks from 2001-2012. Particularly this paper examines the capital management mechanisms using capital buffers, using Generalized Method of Moments (GMM one step and two step estimation techniques on dynamic panel data model. The results gives evidence that capital buffer are counter-cyclical except in case of specialized banks because of difference in operations. The findings also suggest that adjustment costs, cost of raising capital and bankruptcy costs are major determines of holding capital buffer. Analysis confirms too big to fail hypothesis. Form the results, it is concluded that capital buffer are counter-cyclical, consistent with the hypothesis. The findings suggest the banks to adopt Basel III Accord.

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

    Directory of Open Access Journals (Sweden)

    Geovanne Dias de Moura

    2016-04-01

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

  2. 内源融资能力、资本结构对信贷融资成本的影响--基于中小企业的实证研究%Empirical Analysis on the Impact of Internal Financing Ability, Capital Structure on SMEs' Credit Financing Cost

    Institute of Scientific and Technical Information of China (English)

    马雪彬; 佟美琪

    2015-01-01

    Taking the small and medium-sized listed companies' own internal financing ability, capital structure factors for the observation point, taking the listed SMEs credit financing cost as the research object, selecting the Shenzhen SME board 2007-2013 a total of 7 years of 55 listed corporations as the research sample, this paper studies deeply the impact of internal financing ability, capital structure of the listed SMEs credit financing cost. The result shows the endogenous financing capacity of SMEs is weaker, capital structure is more dependent on debt financing, SMEs credit financing cost is higher; endogenous fi-nancing capacity of SMEs is stronger, the capital structure of dependence on debt financing is weaker, SMEs credit financing cost is lower. Therefore, the small and medium-sized enterprise should constantly improve the internal financing ability of small and medium-sized enterprises, and optimize its capital structure, so as to reduce the small and medium-sized enterprises' own financing cost, and constantly promote the small and medium-sized enterprises' own market competitiveness.%论文以中小上市企业自身内源融资能力、资本结构因素为观察点,以中小上市企业信贷融资成本为研究对象,选择2007-2013年共7年的深市中小板55家上市公司作为研究样本,实证分析了中小企业内源融资能力、资本结构对中小企业信贷融资成本的影响。结果显示中小企业的内源融资能力越强,资本结构对债务融资的依赖性越弱,中小企业的信贷融资成本越低。因此中小企业应提高自身的内源融资能力,优化资本结构,从而降低自身信贷融资成本。

  3. Cost-Effectiveness of Radiation and Chemotherapy for High-Risk Low-Grade Glioma.

    Science.gov (United States)

    Qian, Yushen; Maruyama, Satoshi; Kim, Haju; Pollom, Erqi L; Kumar, Kiran A; Chin, Alexander L; Harris, Jeremy P; Chang, Daniel T; Pitt, Allison; Bendavid, Eran; Owens, Douglas K; Durkee, Ben Y; Soltys, Scott G

    2017-06-28

    The addition of PCV (procarbazine, lomustine, vincristine) chemotherapy to radiotherapy (RT) for patients with high-risk (≥ 40 years old or sub-totally resected) low-grade glioma (LGG) results in an absolute median survival benefit of over 5 years. We evaluated the cost-effectiveness of this treatment strategy. A decision tree with an integrated three-state Markov model was created to follow patients with high risk LGG after surgery treated with RT vs. RT+PCV. Patients existed in one of 3 health states: stable, progressive, and dead. Survival and freedom from progression were modeled to reflect the results of RTOG 9802 using time-dependent transition probabilities. Health utility values and costs of care were derived from the literature and national registry databases. Analysis was conducted from the healthcare perspective. Deterministic and probabilistic sensitivity analysis explored uncertainty in model parameters. Modeled outcomes demonstrated agreement with clinical data in expected benefit of addition of PCV to RT. The addition of PCV to RT yielded an incremental benefit of 4.77 quality-adjusted life-years (QALYs) (9.94 for RT+PCV vs. 5.17 for RT alone) at an incremental cost of $48,635 ($188,234 for RT+PCV vs. $139,598 for RT alone), resulting in an incremental cost-effectiveness ratio of $10,186 per QALY gained. Probabilistic sensitivity analysis demonstrates that within modeled distributions of parameters, RT+PCV has 99.96% probability of being cost-effectiveness at a willingness-to-pay threshold of $100,000 per QALY. The addition of PCV to RT is a cost-effective treatment strategy for patients with high-risk LGG.

  4. 父母教养行为与初中生内化问题的关系%The Relationship Between Parenting Behavior and Internalizing Problems of junior high school students; Mediating Role of Psychological Capital

    Institute of Scientific and Technical Information of China (English)

    彭琨; 董洋; 王默

    2016-01-01

    采用问卷调查法,考察了732名初中生的父母教养行为、心理资本与内化问题的关系。研究结果表明:(1)温暖接纳负向预测青少年内化问题作用显著,心理控制正向预测内化问题作用显著;行为控制对内化问题的预测作用不显著。(2)温暖接纳、行为控制正向预测事务型和人际型心理资本作用显著;心理控制负向预测事务型心理资本作用显著。(3)温暖接纳通过增加两种心理资本来减少内化问题。心理控制通过减少事务型心理资本来增加内化问题。行为控制表现出不一致的中介:一方面通过增加两种资本减少内化问题,另一方面在残余的直接效应中又会增加内化问题。%To explore the relationship between parenting behavior, psychological capital and internalizing problems of junior high school students. The mediating role of psychological capital will be investigated between the parenting behavior and the internalizing problems. This study selected 732 students as the research object. By using indigenous psychological capital scale, behavior at school questionnaire and parenting behavior questionnaire as research tools. Results :(a)Internalizing problems is negative predicted significantly by warm acceptance. Internalizing problems can be positive predicted significantly by psychological control. Internalizing problems can not significant predicted by behavior control. (b) Warm acceptance, behavioral control can positive predict task-oriented psychological capital and relationship-oriented psychological capital. Psychological control can negative predict the two kinds of psychological capital. (c)Warm acceptance can reduce the adolescent internalizing problem by adding two psychological capitals. Psychological control can increase the adolescent internalizing problem by reducing the two psychological capitals. Behavior control exhibited inconsistent intermediary. On one hand

  5. High-school seniors' college enrollment goals: Costs and benefits of ambitious expectations.

    Science.gov (United States)

    Villarreal, Brandilynn J; Heckhausen, Jutta; Lessard, Jared; Greenberger, Ellen; Chen, Chuansheng

    2015-12-01

    High school students with high long-term educational expectations attain higher levels of education than those with lower expectations. Less studied is the role of students' short-term college enrollment expectations for the year after high school graduation. The purpose of the current study was to examine the costs and benefits of ambitious short-term expectations and the impact of falling short of these expectations on mental health, motivation, and educational outcomes. Over 1000 youth with expectations to attend college were surveyed during their senior year of high school, one year later, and four years later. Participants who did not achieve their short-term expectations had lower educational attainment four years later but were not less satisfied with their educational progress. The negative consequences of falling short of one's expectations were restricted to individuals with less ambitious short-term expectations. Thus, the benefits of ambitious short-term expectations for youth may outweigh the costs.

  6. WAHRSIS: A Low-cost, High-resolution Whole Sky Imager With Near-Infrared Capabilities

    CERN Document Server

    Dev, Soumyabrata; Lee, Yee Hui; Winkler, Stefan

    2016-01-01

    Cloud imaging using ground-based whole sky imagers is essential for a fine-grained understanding of the effects of cloud formations, which can be useful in many applications. Some such imagers are available commercially, but their cost is relatively high, and their flexibility is limited. Therefore, we built a new daytime Whole Sky Imager (WSI) called Wide Angle High-Resolution Sky Imaging System. The strengths of our new design are its simplicity, low manufacturing cost and high resolution. Our imager captures the entire hemisphere in a single high-resolution picture via a digital camera using a fish-eye lens. The camera was modified to capture light across the visible as well as the near-infrared spectral ranges. This paper describes the design of the device as well as the geometric and radiometric calibration of the imaging system.

  7. Availability and cost estimate of a high naphthene, modified aviation turbine fuel

    Science.gov (United States)

    Prok, George M.

    1988-01-01

    Information from an Air Force study was used to determine the potential availability and cost of a modified conventional fuel with a naphthene content which could have a thermal stability near that of JP-7 for high-speed civil transports. Results showed sufficient capacity for a fuel made of a blend of 50 percent naphthenic straight run kerosene and 50 percent hydrocracked product, assuming a near-term requirement of 210,000 BBL per day. Fuel cost would be as low as 62.5 to 64.5 cents per gallon, assuming 20 dollars per barrel for crude.

  8. Cost allocation model for distribution networks considering high penetration of distributed energy resources

    DEFF Research Database (Denmark)

    Soares, Tiago; Pereira, Fábio; Morais, Hugo;

    2015-01-01

    , losses, and congestion costs) is proposed comprising the use of a large set of DER, namely distributed generation (DG), demand response (DR) of direct load control type, energy storage systems (ESS), and electric vehicles with capability of discharging energy to the network, which is known as vehicle......The high penetration of distributed energy resources (DER) in distribution networks and the competitive environment of electricity markets impose the use of new approaches in several domains. The network cost allocation, traditionally used in transmission networks, should be adapted and used...

  9. Highly Conformal Ni Micromesh as a Current Collecting Front Electrode for Reduced Cost Si Solar Cell.

    Science.gov (United States)

    Gupta, Nikita; Rao, K D Mallikharjuna; Gupta, Ritu; Krebs, Frederik C; Kulkarni, Giridhar U

    2017-02-17

    Despite relatively high manufacturing cost, crystalline-Si solar cell continues to hold promising future due to its high energy conversion efficiency and long life. As regards cost, one pertinent issue is the top electrode metallization of textured cell surface, which typically involves screen printing of silver paste. The associated disadvantages call for alternative methods that can lower the cost without compromising the solar cell efficiency. In the present work, a highly interconnected one dimensional (1D) metal wire network has been employed as front electrode on conventional Si wafers. Here for the first time, we report an innovative solution based crackle templating method for conformal metal wire network patterning over large textured surfaces. Laser beam induced current mapping showed uniform photocurrent collection by the electrodes without any shadow losses. With electroless deposition of Ni wire network on corrugated solar cell, a short circuit current of 33.28 mA/cm2 was obtained in comparison to 20.53 mA/cm2 without the network electrode. On comparing the efficiency with the conventional cells with screen printed electrodes, a 20% increment in efficiency has been observed. Importantly, the estimated manufacturing cost is three orders lower.

  10. Evidence against the energetic cost hypothesis for the short introns in highly expressed genes

    Directory of Open Access Journals (Sweden)

    Niu Deng-Ke

    2008-05-01

    Full Text Available Abstract Background In animals, the moss Physcomitrella patens and the pollen of Arabidopsis thaliana, highly expressed genes have shorter introns than weakly expressed genes. A popular explanation for this is selection for transcription efficiency, which includes two sub-hypotheses: to minimize the energetic cost or to minimize the time cost. Results In an individual human, different organs may differ up to hundreds of times in cell number (for example, a liver versus a hypothalamus. Considered at the individual level, a gene specifically expressed in a large organ is actually transcribed tens or hundreds of times more than a gene with a similar expression level (a measure of mRNA abundance per cell specifically expressed in a small organ. According to the energetic cost hypothesis, the former should have shorter introns than the latter. However, in humans and mice we have not found significant differences in intron length between large-tissue/organ-specific genes and small-tissue/organ-specific genes with similar expression levels. Qualitative estimation shows that the deleterious effect (that is, the energetic burden of long introns in highly expressed genes is too negligible to be efficiently selected against in mammals. Conclusion The short introns in highly expressed genes should not be attributed to energy constraint. We evaluated evidence for the time cost hypothesis and other alternatives.

  11. ASCR{trademark}: lower NOx removal costs without sacrificing performance

    Energy Technology Data Exchange (ETDEWEB)

    Bible, S.; Rummenhohl, V.; Siebeking, M.; Thomas, R.; Triece, C. [Fuel Tech (United States)

    2011-05-15

    With recent regulatory initiatives, the new Industrial Emissions Directive in Europe, and new rules being proposed by EPA in the USA, the question for power plants is now whether they will be required to reduce NOx emissions in the future to stay in operation, but when. What is needed is a low-capital-cost but high-performance NOx removal technology. 7 figs.

  12. A contemporary perspective on capitated reimbursement for imaging services.

    Science.gov (United States)

    Schwartz, H W

    1995-01-01

    Capitation ensures predictability of healthcare costs, requires acceptance of a premium in return for providing all required medical services and defines the actual dollar amount paid to a physician or hospital on a per member per month basis for a service or group of services. Capitation is expected to dramatically affect the marketplace in the near future, as private enterprise demands lower, more stable healthcare costs. Capitation requires detailed quantitative and financial data, including: eligibility and benefits determination, encounter processing, referral management, claims processing, case management, physician compensation, insurance management functions, outcomes reporting, performance management and cost accounting. It is important to understand actuarial risk and capitation marketing when considering a capitation contract. Also, capitated payment methodologies may vary to include modified fee-for-service, incentive pay, risk pool redistributions, merit, or a combination. Risk is directly related to the ability to predict utilization and unit cost of imaging services provided to a specific insured population. In capitated environments, radiologists will have even less control over referrals than they have today and will serve many more "covered lives"; long-term relationships with referring physicians will continue to evaporate; and services will be provided under exclusive, multi-year contracts. In addition to intensified use of technology for image transfer, telecommunications and sophisticated data processing and tracking systems, imaging departments must continue to provide the greatest amount of appropriate diagnostic information in a timely fashion at the lowest feasible cost and risk to the patient.

  13. A low-cost, high-resolution, video-rate imaging optical radar

    Energy Technology Data Exchange (ETDEWEB)

    Sackos, J.T.; Nellums, R.O.; Lebien, S.M.; Diegert, C.F. [Sandia National Labs., Albuquerque, NM (United States); Grantham, J.W.; Monson, T. [Air Force Research Lab., Eglin AFB, FL (United States)

    1998-04-01

    Sandia National Laboratories has developed a unique type of portable low-cost range imaging optical radar (laser radar or LADAR). This innovative sensor is comprised of an active floodlight scene illuminator and an image intensified CCD camera receiver. It is a solid-state device (no moving parts) that offers significant size, performance, reliability, and simplicity advantages over other types of 3-D imaging sensors. This unique flash LADAR is based on low cost, commercially available hardware, and is well suited for many government and commercial uses. This paper presents an update of Sandia`s development of the Scannerless Range Imager technology and applications, and discusses the progress that has been made in evolving the sensor into a compact, low, cost, high-resolution, video rate Laser Dynamic Range Imager.

  14. Avionics and Power Management for Low-Cost High-Altitude Balloon Science Platforms

    Science.gov (United States)

    Chin, Jeffrey; Roberts, Anthony; McNatt, Jeremiah

    2016-01-01

    High-altitude balloons (HABs) have become popular as educational and scientific platforms for planetary research. This document outlines key components for missions where low cost and rapid development are desired. As an alternative to ground-based vacuum and thermal testing, these systems can be flight tested at comparable costs. Communication, solar, space, and atmospheric sensing experiments often require environments where ground level testing can be challenging or impossible in certain cases. When performing HAB research the ability to monitor the status of the platform and gather data is key for both scientific and recoverability aspects of the mission. A few turnkey platform solutions are outlined that leverage rapidly evolving open-source engineering ecosystems. Rather than building custom components from scratch, these recommendations attempt to maximize simplicity and cost of HAB platforms to make launches more accessible to everyone.

  15. High flexibility and low cost digital implementation for modern PWM strategies

    DEFF Research Database (Denmark)

    Mathe, Laszlo; Sera, Dezso; Kerekes, Tamas

    2011-01-01

    In this paper a new low cost technique for PWM strategy implementation is presented. The proposed technique does not require dedicated hardware PWM units, thus offering higher flexibility of use. Furthermore, the aforementioned method eases the digital implementation of modern modulation methods ...... with hardware PWM unit. The experimental results show that this new technique is suitable to replace traditional implementation methods with minimum computational overhead, with the benefit of high flexibility, lower cost and faster code development.......In this paper a new low cost technique for PWM strategy implementation is presented. The proposed technique does not require dedicated hardware PWM units, thus offering higher flexibility of use. Furthermore, the aforementioned method eases the digital implementation of modern modulation methods...

  16. 49 CFR 639.25 - Calculation of lease cost.

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 7 2010-10-01 2010-10-01 false Calculation of lease cost. 639.25 Section 639.25..., DEPARTMENT OF TRANSPORTATION CAPITAL LEASES Cost-Effectiveness § 639.25 Calculation of lease cost. (a) For purposes of this part, the lease cost of a capital asset is— (1) The cost to lease the asset for the...

  17. Indeterminacy and Business Fluctuations under Partial Capital Mobility

    Directory of Open Access Journals (Sweden)

    Jongkyou Jeon

    2008-12-01

    Full Text Available The paper examines a modified real business cycle model of a small open economy such as the Korean economy. The model economy is assumed to produce output with two types of capital: traded capital and non¡ⓒtraded capital. Domestic individuals can borrow from the world capital market only by using traded capital as collateral, and investment in non¡ⓒtraded capital must be financed by domestic savings. It implies that the capital mobility is partial rather than perfect although domestic residents have free access to the world capital market. By incorporating externalities into the production technology, the model economy is able to generate dynamic path of equilibrium time series solely driven by non¡ⓒfundamental shocks such as animal spirits of investors or self¡ⓒfulfilling expectations if the ratio of traded capital to total capital is sufficiently high. The paper shows that the second moment properties of the Korean aggregate data could be reproduced in a modified real business cycle framework where fluctuations are driven only by non¡ⓒfundamental shocks, not by the disturbances to economic fundamentals such as technology. This requires a high value of traded capital relative to total capital, which means that the domestic capital market must be highly integrated with the world capital market. It implies that there exists some critical level of capital mobility beyond which the business cycles of an open economy becomes highly vulnerable to non¡ⓒfundamental shocks such as self¡ⓒfulfilling expectations.

  18. [Predicting individual risk of high healthcare cost to identify complex chronic patients].

    Science.gov (United States)

    Coderch, Jordi; Sánchez-Pérez, Inma; Ibern, Pere; Carreras, Marc; Pérez-Berruezo, Xavier; Inoriza, José M

    2014-01-01

    To develop a predictive model for the risk of high consumption of healthcare resources, and assess the ability of the model to identify complex chronic patients. A cross-sectional study was performed within a healthcare management organization by using individual data from 2 consecutive years (88,795 people). The dependent variable consisted of healthcare costs above the 95th percentile (P95), including all services provided by the organization and pharmaceutical consumption outside of the institution. The predictive variables were age, sex, morbidity-based on clinical risk groups (CRG)-and selected data from previous utilization (use of hospitalization, use of high-cost drugs in ambulatory care, pharmaceutical expenditure). A univariate descriptive analysis was performed. We constructed a logistic regression model with a 95% confidence level and analyzed sensitivity, specificity, positive predictive values (PPV), and the area under the ROC curve (AUC). Individuals incurring costs >P95 accumulated 44% of total healthcare costs and were concentrated in ACRG3 (aggregated CRG level 3) categories related to multiple chronic diseases. All variables were statistically significant except for sex. The model had a sensitivity of 48.4% (CI: 46.9%-49.8%), specificity of 97.2% (CI: 97.0%-97.3%), PPV of 46.5% (CI: 45.0%-47.9%), and an AUC of 0.897 (CI: 0.892 to 0.902). High consumption of healthcare resources is associated with complex chronic morbidity. A model based on age, morbidity, and prior utilization is able to predict high-cost risk and identify a target population requiring proactive care. Copyright © 2013 SESPAS. Published by Elsevier Espana. All rights reserved.

  19. An Investigation of the Relationship between Capital Levels and the ...

    African Journals Online (AJOL)

    Data from individual bank financial records complemented semi-annual data obtained from the ... It was also established that implicit costs negatively impacted on banks' ... Keywords: Capital Levels, Banks' Performance, Loan Provisions ...

  20. Social Capital in Asia

    DEFF Research Database (Denmark)

    Li, Peter Ping

    2014-01-01

    This article provides an overview of social capital in Asia. Social capital is trust and appears in two main forms: relational, based on societal norms, and systemic, based on societal institutions. The relational encourages personalistic transactions; and systemic trust, supports more formal...