Power plants investment decision-making in consideration of investment risk

International Nuclear Information System (INIS)

Oda, Junichiro; Matsuhashi, Ryuji; Yoshida, Yoshikuni; Takashima, Ryuta

2005-01-01

In this paper, we consider the investment risk of nuclear power plants using the real options approach. It is essential that the Japanese society evaluate the investment risk, because nuclear power plants are facing definite uncertainty and Japanese governments intend to promote and assist nuclear power plants through subsidies and policy actions. We assumed that the wholesale market prices of electricity constitute the definite uncertainty and that the wholesale market prices follow the geometric Brownian motion with drift. Using the Bellman equation and a lattice framework, we evaluated the value of investment opportunity, the value of equipment, and the critical prices that are optimal prices to invest in a nuclear power plant in the finite time horizon. This analysis shows that higher volatility of the wholesale market prices would give power companies lower incentive to construct electric power plants, particularly capital-intensive power plants. In order to deliberate and hold the Japanese governments accountable for the economics of nuclear power plants, multifaceted evaluation is needed. (author)

The capital investment and electricity cost of 2 x 600 MW PWR nuclear power plant in China

International Nuclear Information System (INIS)

Li Zhihua; Xing Leiming

1990-01-01

The capital investment and electricity cost of 2 x 600 MW PWR nuclear power plant in China are studied. If the rate of interest R 1 and of escalation R 2 are 7.2% and 10.0% respectively for RMB and the rate of interest R 1 and of escalation R 2 are 6.5% and 2.0% respectively for MK, the total investment is 9270 M RMB Yuan, the Specific investment is 7320 RMB Yuan/kW, the average selling electricity cost is 0.16 RMB Yuan/(kW·h). If the selling electricity price is 0.24 RMB Yuan/(kW·h), the rate of inner return is 7.7%, the dynamic return period is 13 years, the national income is 15800 M RMB Yuan, the profit of nuclear power plant after taxation is 6800 M RMB Yuan

Constitutional investment protection in the context of the nuclear phase-out

International Nuclear Information System (INIS)

Schroeder, Meinhard

2013-01-01

From the viewpoint of power plant operators the decision taken in the summer of 2011 to accelerate the phase-out of the non-military use of nuclear energy gives rise to the question whether they can hope for compensation for investments now frustrated by legislation which has shortened the remaining operating life of their power plants, thus undercutting assumptions made by them at the time of making those investments. The present article investigates the question what protection the constitution has to offer in this situation.

The applicability of shift-share analysis in considering employment impacts as applied to investments in nuclear power

International Nuclear Information System (INIS)

McGuire, A.

1982-01-01

An unresolved issue in the continuing debate between the proponents of nuclear power and alternative energy supplies concerns the employment impacts associated with the capital investments required by these different energy sources. Such employment impacts are properly defined as the impact of capital projects upon the local labour market and should not be confined merely to the direct employment associated with new investments. This paper attempts to highlight the local employment impacts associated with the investment in nuclear power stations by examining the effect past investments in such stations have had upon employment and unemployment trends in certain localities. Our analysis is based upon the nuclear power station developments at Hunterston in Ayrshire and Dounreay in Caithness. This allows us to consider and compare the employment impacts of nuclear power stations on a relatively underdeveloped area and an industrialized area. The employment analysis carried out below was based upon employment and unemployment trends and shift-share analysis. Shift-share analysis is not definitive, as we shall suggest below, but it is held to adequately describe local labour market conditions. (author)

The decision concerning the nuclear investment: influence of the industrial structure

International Nuclear Information System (INIS)

Guillerminet, M.L.

2000-10-01

This report aims to analyze the investment behavior of an enterprise producing nuclear origin electric power in an european market opening to the competition. In this context, the industrial structure controlled by the governor decides the investment in a marginal equipment: either an integrated monopole structure which leads to a regulation at the cost price rate of return; or a pool structure in which the governor intervene to fix the cost price at the marginal cost level given by the main technology of the gas combined cycles. (A.L.B.)

Nuclear vendors see rising prospects for investment in energy-hungry Africa

Energy Technology Data Exchange (ETDEWEB)

Shepherd, John [nuclear 24, St. George' s, Redditch (United Kingdom)

2017-12-15

The term 'Africa rising' derives from the economic growth witnessed across the continent between 2000 and 2014. However, weakened performance over the past couple of years, particularly in sub-Saharan Africa (SSA), has dented investor confidence and expectations. Nevertheless, the continent remains fertile ground for investment, including nuclear power, and at least two of the world's major nuclear operators and developers - Russia and and China - are stepping up interest in the region.

Nuclear vendors see rising prospects for investment in energy-hungry Africa

International Nuclear Information System (INIS)

Shepherd, John

2017-01-01

The term 'Africa rising' derives from the economic growth witnessed across the continent between 2000 and 2014. However, weakened performance over the past couple of years, particularly in sub-Saharan Africa (SSA), has dented investor confidence and expectations. Nevertheless, the continent remains fertile ground for investment, including nuclear power, and at least two of the world's major nuclear operators and developers - Russia and and China - are stepping up interest in the region.

Investment management for nuclear decommissioning trusts

International Nuclear Information System (INIS)

Stimes, P.C.; Flaherty, R.T.

1990-01-01

According to Nuclear Regulatory Commission estimates, and assuming a 4 percent annual inflation rate, minimum decommissioning requirements for a single reactor could total almost $350 million after 30 years. Consequently, reducing customer contributions to decommissioning funds is a potentially rewarding activity. In fact, improving the after-tax return earned on an NDT fund by as little as one percentage point can reduce customer contributions to the fund by 15% over its life. Unfortunately, many electric utilities are headed in the wrong direction and are unlikely to achieve satisfactory results. The main problem is the prevalence of the conventional wisdom, most of which has been appropriated from the area of pension fund management. This is an area which is familiar to most utility managements, but which has only superficial similarity to the issue of NDT investing. The differences are pronounced: NDTs, unlike pensions, are fully taxable at corporate income tax rates. In addition, NDT managers should be concerned with protecting the inflation-adjusted or real value of fund investments at a single, future decommissioning date. Pension managers, on the other hand, may be concerned with satisfying nominal contractual obligations spread over an extended future time horizon. In view of the large stakes involved in the management of NDTs, the authors summarize five key tenets of the conventional wisdom in this area and demonstrate where they feel they are in error

Development of an investment decision tool for aged nuclear power plants under uncertainty

International Nuclear Information System (INIS)

Takashima, Ryuta; Nagano, Koji

2010-01-01

The nuclear power generating stock in Japan, which provides 30% or more of the nationwide electricity supply in recent years, is heading into the era of plant aging as those units over 40 years of operation emerge in 2010 and onward. Under accumulating uncertainties surrounding investment decisions, one of the key questions is how best to manage the existing capacity by choosing a wisest option among dismantling, refurbishment, and replacement. This report attempts to develop a methodology to analyze investment decision on aged nuclear units based on real-option analysis, and then presents illustrative simulation runs to demonstrate functions of the numerical models. Major findings are summarized as follows: a) When compared with the conventional net present value (NPV) method, the proposed model is capable to deal with uncertainty explicitly by taking volatility in the formula. Also, for the replacement option, one can choose optimal timings of the dismantling the new plant independently. b) As the profitability increases, the model suggests different investment option as optimal, starting from dismantling to replacement, further to refurbishment, and again to replacement as the most basic pattern. Additionally, where two of the strategies have similar values, postponement of both decisions can be optimal. Through these exercises, the proposed methodology proved itself capable for raising valuable implications to investment decisions in managing the production fleet. (author)

Projections of US GHG reductions from nuclear power new capacity based on historic levels of investment

International Nuclear Information System (INIS)

Besmann, Theodore M.

2010-01-01

Historical rates of capital investment in nuclear plant construction were used as a guide to estimate the potential rate of future capacity introduction. The total linear rate of capital expenditure over the entire period of historical construction from 1964 to 1990 was determined to equal $11.5 billion/yr, and that for the period of peak construction from 1973 to 1985 was computed as $17.9 billion/yr, all in 2004$. These values were used with a variety of current capital cost estimates for nuclear construction to obtain several scenarios for possible future nuclear capacity additions. These values were used to obtain the effect of projected nuclear generating capacity on GHG emissions assuming nuclear would directly replace coal-fired generation. It was concluded that actual reductions in emissions would not be experienced until 2038, yet growth in emissions from electrical production would be slowed through that period. Due to the significant time to introduce large-scale changes in the utility sector, nuclear energy cannot have a dramatic short-term effect on emissions. Nuclear power, however, can have a major positive longer term impact, particularly under more favorable cost and investment conditions.

The Investments in Renewable Energy Sources: Do Low Carbon Economies Better Invest in Green Technologies?

Directory of Open Access Journals (Sweden)

Antonio Angelo Romano

2011-01-01

Full Text Available The aim of this study is to analyse the driving of investment in renewable energy sources in low carbon and high carbon economies. To address these issues, a dynamic panel analysis of the renewable investment in a sample of 29 countries was proposed. Results demonstrate that the dynamic of investments in renewable sources is similar in the two panels, and depends by nuclear power generation, GDP and technological efficiency. Results show that countries try to reduce their environmental footprint, decreasing the CO2 intensity. Based on the estimation results, we think that energy sustainability passes through the use of renewable resources that can complement the nuclear technology on condition that both exceed their limits.

Missouri airport investment study

Science.gov (United States)

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

COMURHEX II, a 610 million euro investment to meet tomorrow's nuclear power needs

International Nuclear Information System (INIS)

2007-01-01

The worldwide development of nuclear power will lead to increasing demands for uranium. To meet its customers' growing requirements, AREVA has chosen to invest in COMURHEX II to renew and modernize its industrial conversion tool. An entirely new plant is to be built on the Tricastin site to the north of the existing COMURHEX plant. The plant, together with other large-scale investment projects such as the future Georges Besse II enrichment plant - also located on the Tricastin site - and the modernization of the FBFC fuel fabrication facilities in the south of France, will enable AREVA to strengthen its position as a long-standing and fully integrated player at the Front End of the nuclear fuel cycle. These major investments confirm the group's strong commitment to the global development of nuclear power. Converting uranium ore into uranium hexafluoride (UF 6 ) is a key stage before the enrichment and fabrication of nuclear fuel. AREVA is gearing up for market changes, increasing its uranium production from 15,000 tons per year to 21,000 tons per year to match market needs. Today the conversion units of the different industrial operators are showing their age. They will need replacing in the medium term to increase production capacity and keep abreast of the economic, regulatory and environmental conditions of tomorrow's market. Its euros 610 million investment in the Narbonne and Pierrelatte sites in southern France will make AREVA the first uranium converter to overhaul its industrial tool. Thus indicating the group's intention of remaining world leader in UF 6 conversion. The COMURHEX II project will involve the modernization and upgrading of our installations on the basis of tried-and-tested processes and techniques, while incorporating technological innovations that will improve the production performance, reinforce nuclear safety in the facilities, while further reducing the environmental impact of their activities. The first industrial production on the

Feasibility study for the Nuclear Research Centre of the Nuclear Energy Commission

International Nuclear Information System (INIS)

1985-01-01

The feasibility study was carried out in order to evaluate the possibility of building a Nuclear Research Centre in Uruguay, which would support a wide range of nuclear related technological activities. A market research was carried out, of the products to be manufactured at the Nuclear Centre, regarding the size of production. A detailed list of the main products considered is enclosed. The siting study was performed through the analysis of the incidental factors, such as environment, technical scope and socio-ecomonic factors. An engineering study for the main installations was done. The investment and financial sources were also studied

Growth of capital investments for nuclear power plaut building in the USA

International Nuclear Information System (INIS)

Gitlevich, A.D.

1985-01-01

Data concerning the growth of capital investments for building NPPs in the USA are presented. Experts are explaining a considerable growth of NPP building cost by changes in standards and regulations approved earlier, long terms of licensing procedures and building period delay caused by the necessity to meet increased safety and environment requirements. Nonetheless the American experts suppose that in the eighties and subsequent +ears the main types of power plants in the USA will remain the nuclear Uower plants along with the thermal ones, although according to predictions the capital investments for the NPP planned to be put in operation in 1992 will exceed those for the thermal ones by 61%

Measuring the Return on Investment of Nuclear Security Training: The Case of the WINS Academy Professional Society

International Nuclear Information System (INIS)

Battistella, B.; Howsley, R.; Johnson, D.

2015-01-01

The challenges inherent in managing nuclear and radiological materials are complex and growing; ensuring that such materials remain secure requires competent management supported by ongoing training. The nuclear industry is increasingly becoming aware of the need for nuclear security: numerous dedicated training centres have been established worldwide and the IAEA holds approximately 60 international nuclear security training events annually. International training programmes have been conducted in various fields over decades but assessing their value and having the assurance that these training have had a sustainable impact remain difficult. In the field of nuclear security training, no assessment is being made of the degree to which the investment made is making a difference in building sustainable capacity and capability. This paper aims to discuss a methodology to assess the return on investment of nuclear security training. WINS has established a new professional society called the WINS Academy Alumni, for those individuals who have achieved certification through the WINS Academy. This platform proposes a structure, based on established competency frameworks, through which to measure the return on investment and performance improvement of nuclear security training. The objectives of the WINS Academy society are to stay engaged with certified Alumni, track their continued professional development progress, provide them with additional opportunities, and encourage their continued security competence through recertification. We envision that these certified practitioners will in turn promote certification and continual professional development among their peers to help build a network of security-trained professionals that will lead to meaningful and sustainable changes to security culture worldwide. In the long run (5–10 years), we envision that this group will be at the forefront of new professional requirements for nuclear security competence, with

Energy policy study. Volume 10. Nuclear power regulation

International Nuclear Information System (INIS)

Nikodem, Z.D.; Reynolds, A.W.; Clark, R.G.

1980-05-01

This report examines the programs for regulating the safety, design, and operation of domestic nuclear power plants. The first part of the study describes the Federal and State regulatory procedures. It describes the legal foundations for the Federal licensing process and the associated State regulatory activities. It then analyzes the aspects of these procedures that affect the cost and supply of nuclear-generated electricity. The second part of this study examines the effects of nuclear safety regulations on the planning and construction lead time for nuclear power stations, the cost of nuclear power, and, ultimately, the decision to invest in nuclear power

Engineering management at feasibility study stage of nuclear power plant under EPC mode

International Nuclear Information System (INIS)

Wang Zhiqiang

2015-01-01

After the investment reform by the State Council in 2004, NDRC carries out approval system for enterprises to invest in nuclear power plants. Feasibility study stage is a critical stage on the mainline of nuclear power project approval, which intersects with the license application, and engineering design. The owners of nuclear power plants are required stringently in engineering management. From the owners' management point of view under EPC mode, this paper sorts the preliminary project process for nuclear power plants, focusing on the management in the feasibility study stage. License application and engineering design management in the feasibility study stage are also discussed. (author)

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

International Nuclear Information System (INIS)

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

2006-01-01

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

Foreign Direct Investment and Energy Supply in the Middle East and North Africa: A Correlational Study

Science.gov (United States)

Elghali, Siddig

Middle East and North Africa countries have been criticized for failing to utilize foreign direct investment energy resources efficiently. The changing of energy resources environment of the past decades with its growing emphasis on the importance of imminent energy supply challenges require strategists to consider different types of energy resources investment to improve energy supply. One type of energy investment will show effectiveness and efficiency in utilizing foreign direct investment in exposing RE, fossil fuels, natural gas, and reducing CO2 emissions. The purpose of this quantitative correlational study was to utilize foreign direct investment to predict total primary energy supply in the Middle East and North Africa region between 1971 and 2013. The study was conducted using a sample size of 43 years of energy supply resources and foreign direct investment from 1971 to 2013, which includes all of the years for which FDI is available. RE potential may equip Middle East and North Africa countries with sustainable and clean electricity for centuries to come, as non-renewable energy resources may not meet the demands globally and domestically or environmentally. As demands for fossil fuels grow, carbon emissions will increase. RE may be a better option of CO 2 emissions sequestration and will increase electricity to rural areas without government subsidies and complex decision-making policies. RE infrastructure will reduce water desalinization costs, cooling systems, and be useful in heating. Establishing concentrated solar power may be useful for the region cooperation, negotiations, and integration to share this energy. The alternative sought to fossil fuels was nuclear power. However, nuclear power depends on depleting, non-renewable uranium resources. The cost of uranium will increase if widely used and the presence of a nuclear plant in an unstable region is unsafe. Thus, renewable energy as a long-term option is efficient. A nonlinear regression

State-investor disputes connected to foreign investments in the nuclear energy sector: A review of the two cases arising under the energy charter treaty

Directory of Open Access Journals (Sweden)

Stanivuković Maja

2011-01-01

Full Text Available The idea of foreign investments in nuclear energy sector is relatively new. Foreign investors were for a long time denied an opportunity to invest in the sector which was considered to be too sensitive for reasons of safety and security. Together with the change of an attitude towards foreign private investment in this area a possibility of disputes between foreign investors and the host State also emerged. The Energy Charter Treaty represents the only currently existing comprehensive legal instrument of multilateral character which specifically provides for protection of foreign investments in the energy sector against non-commercial risks and establishes a mechanism for resolution of investment disputes. The article contains a review of the cases of HEP v. Slovenia and AMTO v. Ukraine, the only two arbitrations that have arisen so far under the ECT from disputes concerning foreign investments in the nuclear sector. Their analysis shows that the involvement of State in this sector is indispensable but it should be exercised with respect for rights of investors protected by international law. Regulatory measures introduced by the State to protect certain important interest, such as public health, safety, security or the environment, may be perceived by the investor as having equivalent effect to expropriation. Regulatory uncertainty is considered to be one of the main deterrents to investment in new nuclear plants.

Energy Return on Investment - Fuel Recycle

International Nuclear Information System (INIS)

Halsey, W.; Simon, A.J.; Fratoni, M.; Smith, C.; Schwab, P.; Murray, P.

2012-01-01

This report provides a methodology and requisite data to assess the potential Energy Return On Investment (EROI) for nuclear fuel cycle alternatives, and applies that methodology to a limited set of used fuel recycle scenarios. This paper is based on a study by Lawrence Livermore National Laboratory and a parallel evaluation by AREVA Federal Services LLC, both of which were sponsored by the DOE Fuel Cycle Technologies (FCT) Program. The focus of the LLNL effort was to develop a methodology that can be used by the FCT program for such analysis that is consistent with the broader energy modeling community, and the focus of the AREVA effort was to bring industrial experience and operational data into the analysis. This cooperative effort successfully combined expertise from the energy modeling community with expertise from the nuclear industry. Energy Return on Investment is one of many figures of merit on which investment in a new energy facility or process may be judged. EROI is the ratio of the energy delivered by a facility divided by the energy used to construct, operate and decommission that facility. While EROI is not the only criterion used to make an investment decision, it has been shown that, in technologically advanced societies, energy supplies must exceed a minimum EROI. Furthermore, technological history shows a trend towards higher EROI energy supplies. EROI calculations have been performed for many components of energy technology: oil wells, wind turbines, photovoltaic modules, biofuels, and nuclear reactors. This report represents the first standalone EROI analysis of nuclear fuel reprocessing (or recycling) facilities.

A study on the nuclear technology policy

Energy Technology Data Exchange (ETDEWEB)

Yang, Maeng Ho; Ham, C. H.; Kim, H. J.; Chung, W. S.; Lee, T. J.; Lee, B. O.; Yun, S. W.; Choi, Y. M.; Eom, T. Y

1998-01-01

This study analyzed the major issues as the research activities for the support of establishment and implementation of national policy. The analyses were focused on the recommendations of the responsive direction of national policy in positive and effective manners in accordance with the changes of international nuclear affairs. This study also analyzed the creation of environmental foundation for effective implementation of the national policy and national R and D investment such as securing national consensus and openings of policy information to the public. The major results of the role and position of nuclear policy, trends of nuclear policy and nuclear R and D activities of USA, France, Japan, Asian developing countries etc. and international trends of small- and medium-sized reactor as well as spin-offs of nuclear R and D activities, were analyzed. (author). 66 refs., 27 tabs., 15 figs

Feasibility study about Nuclear Center of the National Commission of Nuclear Energy

International Nuclear Information System (INIS)

1984-01-01

This study is mainly about of investments, financing evaluation of the Profitability, RU-2 Reactor and partnership laboratories; work of the RU-2, control systems and security, refrigeration system and treatment of water, irradiation devices and experimental facilities, Building of the reactor, Organization and human resources, Plant of radioisotopes Production, Radiological Protection and Nuclear Security, Location

Calculation of investment cost and electricity tariff on first building of Nuclear power plant in Indonesia

International Nuclear Information System (INIS)

Mochamad Nasrullah; Sudi Arianto

2005-01-01

Nuclear power plant as one alternative power plant for Indonesia is expected to attract interest of investors to invest in electricity sector. Calculation of investment cost and electricity tariff is a nearly necessary Information needed by investors. Spread sheet calculations on construction cost including Interest During Construction and escalation as well as financial viability are implemented. Result of the study show that overnight cost before escalation is US $ 2.682.865.200,- and after IDC and escalation it becomes US $ 3.795.712.088 or 1.807,5 US$/k We. Levelized Tariff is at around 4,57 cents/kWh. Levelized Tariff is 3,5 cents/kWh not feasible to the project of because all financial parameter show negative value. The project is financially feasible if calculated levelized tariff within arrange of 4,0 cents/kWh-5,5 cents/kWh. The most profitable tariff for investor is within arrange of 4,87 cents/kWh - 5,11 cents/kWh. (author)

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

International Nuclear Information System (INIS)

Laaksonen, J.

2002-01-01

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

Prospective economical study of the nuclear power file

International Nuclear Information System (INIS)

Charpin, J.M.; Dessus, B.; Pellat, R.

2000-07-01

On May 7, 1999 an economical study of the overall nuclear file, and in particular, of the back-end part of the fuel cycle and including the reprocessing, was requested by the French Prime Minister. This study includes the cost comparisons with the other means of power production and takes into consideration the environmental costs. The study is shared into five chapters dealing with: 1 - the legacy of the past: todays park of nuclear plants, economical and material status; 2 - the international evolution: the dynamics of nuclear policies worldwide (existing parks and R and D programs), the rise of environmental problems worldwide (CO 2 and the climate convention, nuclear risks, attempts of including environment in the power costs), the choices made for the management of spent fuels in the main countries; 3 - the technological prospects for the power production and use: technologies for the mastery of power demand (residential, industrial and tertiary sectors, power transportation), technologies of power production (production from nuclear, fossil and renewable energies); 4 - prospective scenarios for France: two demand scenarios at the year 2050 vista (energy, electric power), power supply (supply structure with respect to scenarios, nuclear parks, power capacities), environmental aspects (CO 2 emissions, plutonium and minor actinides production); 5 - the economical status of the different scenarios: data preparation, fossil fuel price scenarios, investment and operation costs of the different power production means (nuclear, fossil and renewable energies, natural gas and power distribution networks), comparison between fluxes and cumulated economic costs linked with the different scenarios (investments, exploitation, fuels, R and D, status for 2000 to 2050), time structure of expenditures with respect to the different scenarios (chronology, statuses, kWh costs, sensitivity with respect to the rate of discount, valorization of existing parks in 2050), cost overruns

International comparison of the economy of constructing nuclear power plants by using the method of referred investment costs in Czechoslovakia and in the USA

International Nuclear Information System (INIS)

Majer, P.; Jelen, J.

1989-01-01

The method of referred investment costs was applied to a comparison of the economy of constructing the nuclear power plant at Temelin, Czechoslovakia, with that for the hypothetic nuclear power plant at Middletown, USA. For a reasonably adopted Czechoslovak crown/USD rate, the obtained costs for building the Temelin power plant are 50% higher than those for building the reference Middletown power plant. This compares rather favorably with the general level of investment costs in Czechoslovakia under the present economic conditions. The analysis performed shows that savings in investment costs should be sought in the fields of technological modernization of preparatory work and in all construction work, with the aim to reduce particularly live work. (P.A.). 12 tabs., 8 refs

A feasibility study on nuclear power options in Mongolia

International Nuclear Information System (INIS)

Minato, A.; Sekimoto, H.; Amartaivan, T.

2010-10-01

There is a growing interest among utilities in the United States in small and medium reactors due primarily to the smaller investment and perhaps shorter construction time involved as compared to those large reactors. The potential market for small reactors (those below 300 M We) exists, specially with sizes of 50 and 100 M We. A feasibility study was conducted on nuclear power options for Ulaanbaatar, Mongolia, a country which has a potential market for small reactors. The study was focused on an optimization of a combination of coal-fired and nuclear power plants taking into account Mongolia's future nuclear program plan, future population and economic growth, and the increased electricity and district heating demands. (Author)

Outward Foreign Direct Investment from Malaysia: An Exploratory Study

OpenAIRE

Tham Siew Yean

2007-01-01

Although Malaysia is well known as a host economy, there is little research on its investment abroad even though this has been steadily increasing over time. Using a case study approach based on Dunning’s OLI framework, seven firms are studied in order to understand their motivations to invest abroad as well as home and host country policies that have facilitated or hindered their investments. The main motivations for these firms to invest abroad are quite varied, ranging from the low labor c...

Benchmarking Investments in Advancement: Results of the Inaugural CASE Advancement Investment Metrics Study (AIMS). CASE White Paper

Science.gov (United States)

Kroll, Juidith A.

2012-01-01

The inaugural Advancement Investment Metrics Study, or AIMS, benchmarked investments and staffing in each of the advancement disciplines (advancement services, alumni relations, communications and marketing, fundraising and advancement management) as well as the return on the investment in fundraising specifically. This white paper reports on the…

Should France invest in new nuclear technology? The enhancement of the EPR project using 'real option' method

International Nuclear Information System (INIS)

Epaulard, A.; Gallon, St.

2000-01-01

The mathematical tools developed to enhance financial options can also be used to calculate the economics value of investment projects which offer flexibility but whose return is uncertain (like options offered on the stock exchange). In this article, an enhancement method of this kind is applied to a construction project (in 2000) for an EPR nuclear prototype. This prototype will make it possible to use EPR to renew the French electrical infrastructure in 2020 (flexibility), but its economic value will depend upon competitiveness vis-a-vis other production methods available at this time (hence an uncertain return). We demonstrate that investing in EPR technology in 2000 will provide sufficient flexibility in 2020 to be considered profitable, even though it is improbable that the EPR technology will be used at the end of this period. The investment agreed in 2000 to expand EPR technology therefore effectively has the role of an option, or of an insurance policy (guaranteeing against the risk that traditional electricity production methods will be expensive in 2020). (authors)

Investment and Decommissioning Decisions under Conditions of Uncertainty: An Application to the Electricity Sector

International Nuclear Information System (INIS)

Chaton, Corinne

2001-01-01

The purpose of this study is to use real options theory to answer the following question: Is it necessary, in France, to invest in new nuclear power units or should some of the existing units be decommissioned? The theoretical model developed establishes two price thresholds which determine investment or decommissioning rules for a regulated risk-neutral firm which does not know the future price of its input. It also provides an empirical reading of past choices in construction of French nuclear power plants. The main finding is that, on a certain number of theoretical and empirical assumptions, it is optimal at present is to leave French nuclear power capacity unchanged. Other more general findings follow from the theoretical model. Thus an increase in uncertainty facilitates investment, defers decommissioning and extends the range of input prices for which there is no change in capacity

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

Directory of Open Access Journals (Sweden)

Romeo Victor IONESCU

2015-11-01

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

Comparative study on corpus development for Malay investment ...

African Journals Online (AJOL)

Comparative study on corpus development for Malay investment fraud detection in website. ... Journal of Fundamental and Applied Sciences ... The aim of this research is to develop a corpus for Malay investment fraud so that it can be used in ...

Economic analysis of nuclear energy

International Nuclear Information System (INIS)

Song, Ki Dong; Lee, M. K.; Moon, K. H.; Kim, S. S.; Lim, C. Y.; Kim, H. S.

2000-12-01

This study identified the role of nuclear energy in the following three major aspects. First of all, this study carried out cost effectiveness of nuclear as a CDM technology, which is one of means of GHG emission reduction in UNFCCC. Secondly, environmental externalities caused by air pollutants emitted by power options were estimated. The 'observed market behaviour' method and 'responses to hypothetical market' method were used to estimate objectively the environmental external costs by electric source, respectively. Finally, the role of nuclear power in securing electricity supply in a liberalized electricity market was analyzed. This study made efforts to investigate whether nuclear power generation with high investment cost could be favored in a liberalized market by using 'option value' analysis of investments

Absolute tightness: the chemists hesitate to invest

International Nuclear Information System (INIS)

Anon.

1996-01-01

The safety requirements of industries as nuclear plants and the strengthening of regulations in the field of environment (more particularly those related to volatile organic compounds) have lead the manufacturers to build absolute tightness pumps. But these equipments do not answer all the problems and represent a high investment cost. In consequence, the chemists hesitate to invest. (O.L.)

Economic prospective study of the nuclear electricity generation sector

International Nuclear Information System (INIS)

Pellat, R.; Charpin, J.M.; Dessus, B.

2000-01-01

In his letter dated May 7. 1999, the French Prime Minister Lionel Jospin asked Jean-Michel Charpin, Benjamin Dessus and Rene Pellat to carry out a 'study of the economic data for the whole of the nuclear sector, in particular downstream of the nuclear combustion cycle, including reprocessing'. This report had to include comparisons with other production methods for electricity and take account of environmental costs. The Prime Minister stressed in this same letter his wish to see the inquiry 'examine all of the factors forming the basis for a public decision, including intrinsic competitiveness, external factors and long-term effects, as well as the impact of different production methods upon our CO 2 gas emissions and control over the downstream part of the nuclear cycle'. Two series of questions are central to this study. The first concerns the existing nuclear facilities. In view of the inertia of a French electrical production system which is largely based upon nuclear energy and in which major investments have already been made, what room for manoeuvre remains for the public authorities and operators concerning the future of these stations? In particular: What are the economic conditions and consequences of possibly prolonging the average active life of the existing stations? What are the economic and environmental consequences of decisions concerning the continuation or stoppage of the reprocessing of irradiated fuel produced by the existing stations? The second concerns new investments likely to meet electrical demand under various scenarios. In particular: what are the technologies that may be envisaged (nuclear and non-nuclear) and in what timescale? What are the changes underway in the world that are likely to have an influence on the choices made in France? What will be the environmental consequences of these choices by the year 2050, in particular regarding greenhouse gas emissions and the quantities of transuranic elements to be stored? What will be

Financing Nuclear Projects. Case Study: Unit 2 Cernavoda NPP

International Nuclear Information System (INIS)

Chirica, Teodor; Constantin, Carmencita; Dobrin, Marian

2003-01-01

The implementation of a Nuclear Power Plant (NPP) is a major undertaking for all entities involved, due to the necessity of planning work and coordination of the implementation process of the different fields of interest, starting with the governmental authorities and ending with the public. Having in view the specific investment costs (relatively high) for a NPP, finding an adequate financing structure is possible through an iterative process that involves first an assessment of the technical performances of the project and secondly, the mathematical modelling of the financing structure effects on the projects. In this respect, the paper will be focused on the main steps needed in order to promote an investment project in nuclear field, starting with the decision phase, providing the documentation requested by the local and international authorities to promote the project and ending with the negotiation of the contracts (commercial contract, financing contract, purchase contract, etc). The case study will be focused on the phases achieved in order to promote the Unit 2 NPP Cernavoda completion works project. (authors)

Financing nuclear projects. Case study: Unit 2 Cernavoda NPP

International Nuclear Information System (INIS)

Chirica, T.; Pall, S.; Lebedev, A.; Dobrin, M.

2003-01-01

The implementation of a Nuclear Power Plant (NPP) in a country is a major undertaking for all entities involved, due to the necessity of planning work and co-ordination of the implementation process of the different fields of interest, starting with the governmental authorities and ending with the people. Having in view the specific investment cost (relatively high) for a NPP, to find an adequate financing structure is possible through an iterative process that involves first an assessment of the technical performances of the project and second, the mathematical modelling of the financing structure effects on the project. In this respect, the paper proposed will be focused on the main steps needed in order to promote an investment project in nuclear field, starting with the decision phase, providing the documentations requested by the local and international authorities to promote the project and ending with the negotiation of the contracts (commercial contract, financing contract, power purchase contract, etc.) The case study will be focused on the phases achieved in order to promote the Unit 2 Cernavoda NPP completion works project. (author)

Nuclear power and the economic interests of consumers

International Nuclear Information System (INIS)

MacKerron, G.

1982-06-01

This study examines the main economic issues surrounding the use of nuclear power from a broadly consumer perspective. It sets out to answer four related questions: has nuclear investment been good value in the past; are current plans for nuclear investment (especially at Heysham II and beyond) likely to be good value in the future; what are the likely economic consequences if there is an explicit or de facto moratorium on the building of more nuclear power plants; and what strategic factors influence decision-making about nuclear investment and what are their consequences for consumers. (It should be noted that the CEGB's 'Statement of Case' for a PWR at Sizewell was published too late to be taken into account in this report). (author)

Nuclear phase-out before court. Legal protection by investment protection arbitration; Atomausstieg vor Gericht. Rechtsschutz durch Investitionsschutz-Schiedsgerichtsverfahren (ICSID)

Energy Technology Data Exchange (ETDEWEB)

Leidinger, Tobias [Luther Rechtsanwaltsgesellschaft, Duesseldorf (Germany)

2016-11-15

On the basis of the nuclear power phase out in Germany in 2011, three nuclear power plant operators (E.ON, RWE and Vattenfall) submitted constitutional complaints to the Federal Constitutional Court. In parallel, Vattenfall, a Swedish state-owned company, took a second legal option: An investment protection arbitration procedure against Germany was initiated on the basis of the ''Energiecharta'' contract. A negotiation took place in October 2016. Critics notice that this would provide a foreign company with a special legal action. They want to derive consequences for the content and conclusion of further trade agreements (for example, TTIP).

Sensitivity study of the factors affecting first-of-a-kind and Nth-of-a-kind Small Modular Reactor investment costs - 15108

International Nuclear Information System (INIS)

Boldon, L.; Liu, L.; Sabharwall, P.; Schneider, E.

2015-01-01

Conventional nuclear reactors require significant investment and pose financial, regulatory, and political risks. Small modular reactors (SMRs), on the other hand, provide an attractive alternative due to substantially reduced up-front investment costs and financial risks; more flexible deployment schedules and operations; modular fabrication and faster onsite assembly; and incorporation into hybrid energy systems or even cogeneration applications such as desalination, district heating, and industrial process heat. This paper aims to develop a general methodology of assessing the economics of first-of-a-kind (FOAK) and nth-of-a-kind (NOAK) SMRs as part of an effort to determine the conditions that would make them competitive with other generation technologies. Ultimately, this paper will provide background information on the various factors impacting nuclear reactor capital and operational costs; detail technology independent cost estimates for water-cooled SMRs; and provide a parametric study on learning and construction and deployment effects. This study demonstrates precisely why the financial risks are drastically reduced for an SMR site, making SMR nuclear projects feasible for many companies, rather than just a handful which are able to finance multi-billion dollar projects and handle the potential construction or licensing delays or cost overruns

Economic analysis of nuclear energy

Energy Technology Data Exchange (ETDEWEB)

Song, Ki Dong; Lee, M. K.; Moon, K. H.; Kim, S. S.; Lim, C. Y.; Kim, H. S

2000-12-01

This study identified the role of nuclear energy in the following three major aspects. First of all, this study carried out cost effectiveness of nuclear as a CDM technology, which is one of means of GHG emission reduction in UNFCCC. Secondly, environmental externalities caused by air pollutants emitted by power options were estimated. The 'observed market behaviour' method and 'responses to hypothetical market' method were used to estimate objectively the environmental external costs by electric source, respectively. Finally, the role of nuclear power in securing electricity supply in a liberalized electricity market was analyzed. This study made efforts to investigate whether nuclear power generation with high investment cost could be favored in a liberalized market by using 'option value' analysis of investments.

The competitiveness of nuclear energy

International Nuclear Information System (INIS)

Lewiner, C.

1993-01-01

A detailed review of cost factors affecting the final production cost of nuclear KWh is made in comparison with coal, oil, and natural gas. Investment costs are higher for nuclear plants because they require higher quality (design and engineering). Additionaly thereis a 15% of provision cost for spare equipments (e.g. steam generators) with an impact of 5% in KWh cost. Fuel acquisition is a very fluctuant term. Reprocessing would be essential for cost saving. It is estimated for the french case a 30% of use of MOx type fuel. The studies performed taking into account investment, O+M and fuel show a clear competitiveness of nuclear energy. Fuel represents a relatively low part of the total cost, being the initial investment the most important percentage of cost

Risk and safety in the nuclear industry and conventional norms of society

International Nuclear Information System (INIS)

Tadmor, J.

In the present study the societal acceptance of various risks is analyzed and rules of risk acceptance as a function of different parameters are spelled out. The monetary value of a human life is estimated, based on investments in safety of different human activities. The acceptable risks and safety investments in different human activities are then compared with risks and safety investments of the nuclear industry. Safety investments required to reduce the radioactivity releases and risks from nuclear power stations to ALAP levels are taken as a study case. It is found that risks in the nuclear industry are several orders of magnitude lower and safety investments per human life saved are several orders of magnitude higher, as compared with risks and safety investments in other human activities. It is also shown that the incremental safety investments needed to further reduce the radiation doses in the environment during normal and continuous operation of nuclear plants are extravagantly high as compared to safety investments in other human activities and in other facets of human life. Considering that there is a limit to the economic means available, societal expenditures for reducing risks should by spread, as much as possible, over all human activities to get the maximum return from investments. (B.G.)

Investor perceptions of nuclear power

International Nuclear Information System (INIS)

Hewlett, J.G.

1984-05-01

Evidence is provided that investor concerns about nuclear power have recently been reflected in the common stock returns of all utilities with such facilities and have resulted in a risk premium. In particular, over the 1978-1982 period, three nuclear-related events occurred at the same time as, and therefore appear to have caused, significant drops in the market values of nuclear utilities relative to their non-nuclear counterparts. The three events were as follows: the accident at TMI, which occurred in March 1979; the realization in the summer of 1980 that an accident of the magnitude of TMI could result in cleanup costs of over $1 billion, which are not completely insurable and could therefore result in substantial losses; and the summer 1982 decision by the Tennessee Valley Authority (TVA) to cancel some if its nuclear power plant construction projects, and the Nuclear Regulatory Commission (NRC) decision to stop work on the construction of the Zimmer reactor, followed by a warning that it might close the Indian Point 2 and 3 reactors. If an individual had invested $100 in an average nuclear utility on the day before the TMI accident and reinvested all dividends, the value of this investment would have fallen by 10% relative to an identical investment in the average non-nuclear utility. The risk of investments in nuclear power versus conventional generating technologies shows nuclear power to be a relatively risky investment. However, relative to all investments, nuclear power was less risky in terms of the type of risk that would cause investors to require a premium before purchasing their securities. 6 figures, 6 tables

Study On The Multi-Project Management Practices for Complex Investments

Directory of Open Access Journals (Sweden)

Mircea Sandru

2015-11-01

Full Text Available This paper highlights the results of a study carried out during the doctoral research in case of multi project Engineering, Procurement, Construction, Commissioning (EPCC investment types. The objective of this study was to improve the project portfolio management. The methodology used in the research presented in this paper is focused on the analysis of the authors related to the approaches debated in literature and theirs applicability in EPCC type investment programs. In this sense were analyzed 11 international projects in petrochemical and refinery field and also 7 investments in other different areas of chemical industry. The research highlighted that the management process of these investments can be improved trough the correct project integration, being able to provide a performing working environment able to sustain the management team in identifying the investment program criticalities and congestion points in order to be able to manage them in an efficient manner in order to assure the reach of the investment goal. Having as consequence the possibility to significant reduction of execution period, up to 16% and in the mean time also the delays related risks through a more efficient investment managerial act.

Simulation study of coal mine safety investment based on system dynamics

Institute of Scientific and Technical Information of China (English)

Tong Lei; Dou Yuanyuan

2014-01-01

To generate dynamic planning for coal mine safety investment, this study applies system dynamics to decision-making, classifying safety investments by accident type. It validates the relationship between safety investments and accident cost, by structurally analyzing the causality between safety investments and their influence factors. Our simulation model, based on Vensim software, conducts simulation anal-ysis on a series of actual data from a coalmine in Shanxi Province. Our results indicate a lag phase in safety investments, and that increasing pre-phase safety investment reduces accident costs. We found that a 24%increase in initial safety investment could help reach the target accident costs level 14 months earlier. Our simulation test included nine kinds of variation trends of accident costs brought by different investment ratios on accident prevention. We found an optimized ratio of accident prevention invest-ments allowing a mine to reach accident cost goals 4 months earlier, without changing its total investment.

The financing of nuclear power plants

International Nuclear Information System (INIS)

2009-01-01

Many countries have recognised that greater use of nuclear power could play a valuable role in reducing carbon dioxide emissions. However, given the high capital cost and complexity of nuclear power plants, financing their construction often remains a challenge. This is especially true where such financing is left to the private sector in the context of competitive electricity markets. This study examines the financial risks involved in investing in a new nuclear power plant, how these can be mitigated, and how projects can be structured so that residual risks are taken by those best able to manage them. Given that expansion of nuclear power programmes will require strong and sustained government support, the study highlights the role of governments in facilitating and encouraging investment in new nuclear generating capacity

Investment of Vehicle Fixed Asset Investment on improving profitability (Case study of Parahyangan Express Karawang Branch

Directory of Open Access Journals (Sweden)

Sri Suartini

2018-03-01

Full Text Available The purpose of this study is to determine how much influence has fixed asset investment in profitability of Parahyangan Express Karawang Branch. This research uses the descriptive method with primary data source of Parahyangan Express Karawang Branch between 2007 - 2016. The result of this research is r average investment value of Parahyangan Express in the period 2007 until 2016. Parahyangan Express in the period 2007 to 2016 tends to decline. Based on test results t comparison t arithmetic with t table showing 2.840> 2.093 t count more than t table. The percentage of influence of fixed asset investment of 30% means 30 % development of profitability. Parahyangan Express is influenced by in-kind fixed assets while 70 % is influenced by other factors not examined in this study.

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

OpenAIRE

Oksanen, Olli-Pekka

2006-01-01

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

Social rate of return to R&D on various energy technologies: Where should we invest more? A study of G7 countries

International Nuclear Information System (INIS)

Inglesi-Lotz, Roula

2017-01-01

The importance of investment in Research and Development (R&D) in the energy sector is indisputable especially considering the benefits of new technologies to sustainability, security and environmental protection. However, the nature and potential of various energy technologies that are capable of improving the energy and environmental conditions globally is a challenging task for governments and policy makers that have to make decisions on the allocation of funds in R&D. To do so, the optimal resource allocation to R&D should be determined by estimating the social rate of return for R&D investments. This paper aims to estimate the social rate of return of R&D on various energy applications and technologies such as energy efficiency, fossil fuels, renewable energy sources, and nuclear for the G7 countries. The results show that primarily R&D investment on Energy Efficiency technologies and Nuclear are the ones that yield high social benefits for all G7 countries while exactly the opposite holds for Fossil fuels. - Highlights: • Allocation of R&D funding in various energy technologies is a challenging task. • This can be done by estimating the social rate of return for R&D investments • We investigate various technologies’ social rate of return for the G7 countries. • R&D funding yields social benefits from energy efficiency and nuclear technologies. • R&D investment on fossil fuels has negative social rate of return.

Providing Policy Implication Based on the R and D Portfolio Analysis in Advanced Countries in the Nuclear Technology

Energy Technology Data Exchange (ETDEWEB)

Moon, K. H.; Lee, M. K.; Won, B. C.; Kim, S. S.; Lee, J. H.; Yun, S. W.; Jeong, I. K.; Lee, Y. C.; Lee, Y. J.; Kim, Y. S.

2013-08-15

This study is to provide the investment direction of nuclear R and D, which is the most efficient and reasonable integrating the various aspects comprehensively. This study includes four parts. In the first part, we extracted Mega-trend and driving forces of nuclear R and D field by using various reports published by National Intelligence Council of US, UN, etc. Also, in this part we established the linkage between megatrend factors focussing on nuclear and the five aspects including society, technology, ecology, economics and politics. In the second part, we analyzed the nuclear R and D investment directions of major advanced countries including US, Japan, EU and China for comparing the investment portfolio in the specific research area. In the third part, domestic investment of nuclear R and D was reviewed by analyzing the investment trend of nuclear R and D in the past, with their connection to nuclear policy, and to the levels and capacities of national technologies of nuclear. In the final part, the desirable directions of nuclear R and D investment were suggested comprehensively taking into consideration various aspects including the Mega-trend associated with nuclear, nuclear R and D directions of major advanced countries, and the level and capacities of the domestic nuclear technologies.

Providing Policy Implication Based on the R and D Portfolio Analysis in Advanced Countries in the Nuclear Technology

International Nuclear Information System (INIS)

Moon, K. H.; Lee, M. K.; Won, B. C.; Kim, S. S.; Lee, J. H.; Yun, S. W.; Jeong, I. K.; Lee, Y. C.; Lee, Y. J.; Kim, Y. S.

2013-08-01

This study is to provide the investment direction of nuclear R and D, which is the most efficient and reasonable integrating the various aspects comprehensively. This study includes four parts. In the first part, we extracted Mega-trend and driving forces of nuclear R and D field by using various reports published by National Intelligence Council of US, UN, etc. Also, in this part we established the linkage between megatrend factors focussing on nuclear and the five aspects including society, technology, ecology, economics and politics. In the second part, we analyzed the nuclear R and D investment directions of major advanced countries including US, Japan, EU and China for comparing the investment portfolio in the specific research area. In the third part, domestic investment of nuclear R and D was reviewed by analyzing the investment trend of nuclear R and D in the past, with their connection to nuclear policy, and to the levels and capacities of national technologies of nuclear. In the final part, the desirable directions of nuclear R and D investment were suggested comprehensively taking into consideration various aspects including the Mega-trend associated with nuclear, nuclear R and D directions of major advanced countries, and the level and capacities of the domestic nuclear technologies

STUDY OF INVESTMENT AND ECONOMIC RELAUNCH

Directory of Open Access Journals (Sweden)

VĂDUVA MARIA

2015-12-01

Full Text Available Investment is the main route of economic growth, and for carrying out a modern structures branches of production. By investments to ensure economic and social development of our country,

Review of nuclear power costs around the world

International Nuclear Information System (INIS)

Bennett, L.L.; Karousakis, P.M.; Moynet, G.

1983-01-01

This paper presents highlights of nuclear power costs around the world from studies carried out by the IAEA and by UNIPEDE. Emphasis is placed on trends within each country of key parameters which affect both investment costs and total power generation costs, including construction and project durations, size of units, regulatory environment, scope of project, fuel cycle costs and general economic conditions. A synthesis of these trends, taking into consideration both nuclear and coal-fired plant capital and fuel costs as they are estimated to evolve in the near and medium term, is presented in terms of nuclear-to-coal cost ratios for both plant investment costs and total generating costs. The plant investment costs are expressed as ''overnight'' or ''fore'' costs, in constant money, for plants expected to enter commercial operation in the early 1990s. Pertinent assumptions are based on conditions prevailing in the particular country under review. These studies indicate that in most countries nuclear plant investment costs are rising more rapidly than the costs for coal-fired plants. A major cause for the rapid rise in nuclear plant costs is the drastic lengthening of project duration in most countries. France, as a notable exception, has been able to maintain a stable and reasonably short project time. In spite of the rapidly escalating nuclear plant investment costs, nuclear electricity generation has an economic advantage over coal in Europe and Canada and is competitive with coal in the eastern and midwestern parts of the United States of America (USA). The availability of abundant, low-cost coal gives coal-fired generation an economic advantage in the western USA. (author)

The Library as Strategic Investment: Results of the Illinois Return on Investment Study

Directory of Open Access Journals (Sweden)

Paula T. Kaufman

2008-11-01

Full Text Available University administrators are asking library directors to demonstrate their library's value to the institution in easily articulated quantitative terms that focus on outputs rather than on traditionally reported input measures. This paper reports on a study undertaken at the University of Illinois at Urbana-Champaign that sought to measure the return on the university's investment in its library. The study sought to develop a quantitative measure that recognizes the library's value in supporting the university's strategic goals, using grant income generated by faculty using library materials. It also sought to confirm the benefits of using electronic resources and the resulting impact on productivity over a 10-year period. The results of this study, which is believed to be the first of its kind, represent only one piece of the answer to the challenge of representing the university's total return from its investment in its library.

Risk and safety in the nuclear industry and conventional norms of society

International Nuclear Information System (INIS)

Tadmor, J.

1977-01-01

The societal acceptance of various risks is analyzed and rules of risk acceptance as a function of different parameters (e. g., expected benefit, intensity of effect) are spelled out. The monetary value of a human life is estimated, based on investments in safety of different human activities. The acceptable risks and safety investments in different human activities are then compared with risks and safety investments of the nuclear industry. Safety investments required to reduce radioactivity releases and risks from nuclear power stations to ALAP (as low as practiable) levels are taken as a study case. It is found that risks in the nuclear industry are several orders of magnitude lower and safety investments per human life saved are several orders of magnitude higher, as compared with risks and safety investments in other human activities

Investment Strategy and Efficiency of Investment Activity of European Insurers

Directory of Open Access Journals (Sweden)

Zhabynets Olga Yo.

2014-02-01

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

Essays on investment planning in electricity generating capacity

Science.gov (United States)

Gonzalez-Gomez, Jorge

In the first part of this study we develop and analyze two mathematical models that incorporate a time changing demand for electricity and uncertainty of input prices. The first model highlights the shortcomings in assuming a constant plant utilization under uncertainty of input prices and the effects of such assumption on the optimal investment in electricity generating capacity in a simple two period model. The second model presents sufficient restrictions to the optimal investment in electricity generating capacity problem to allow for a recursive solution. The necessary restrictions are extremely limiting to the extend that we found a solution for very simple scenarios. In our opinion, the problem is better handled in a case by case basis rather than under a general dynamic framework. Following the spirit of our conclusions of the first part of our study, in the second part we provide a methodology to simulate long-term natural gas prices, we analyze the investment prospects of nuclear and natural gas generating capacity in Mexico and provide a constraint approach for the optimal generation of hydroelectric plants in the Mexican hydroelectric system. These three problems belong to the solution of the optimal investment in electricity generating capacity in Mexico. To simulate the uncertainty of natural gas prices, we assume that natural gas prices are the sum of two stochastic processes: short-term and long-term variability. We characterize the short-term variability of natural gas prices using an Exponential General Autoregressive Conditional Heteroskedastic (EGARCH) model. The uncertainty of the long-term variability of natural gas prices is based on the long-term natural gas prices scenarios of the National Energy Modeling System of the Energy Information Administration. Equipped with a methodology to simulate long-term natural gas prices, we investigate the investment prospects of nuclear and natural gas generating capacity in Mexico using the levelized

The decision concerning the nuclear investment: influence of the industrial structure; La decision d'investissement nucleaire: l'influence de la structure industrielle

Energy Technology Data Exchange (ETDEWEB)

Guillerminet, M.L

2000-10-01

This report aims to analyze the investment behavior of an enterprise producing nuclear origin electric power in an european market opening to the competition. In this context, the industrial structure controlled by the governor decides the investment in a marginal equipment: either an integrated monopole structure which leads to a regulation at the cost price rate of return; or a pool structure in which the governor intervene to fix the cost price at the marginal cost level given by the main technology of the gas combined cycles. (A.L.B.)

Planning for nuclear power in the Philippines

International Nuclear Information System (INIS)

Ibe, L.D.

1976-01-01

This article traces the events that led to nuclear power introduction in the Philippines starting from: the creation of National Science and Development Board and Philippine Atomic Energy Commission in 1958 under R.A. 2067; recruitment of young engineers, chemists and other scientists and their training here and abroad for the different specialized fields of nuclear energy; the creation of an inter-organizational Ad-Hoc Committee on Nuclear Power Study; initiation of a UNDP-IAEA supported Pre-Investment Study on Power Including Nuclear Power in Luzon in early 1964; enactment of R.A. 5207, the Philippine Nuclear Liability Act in 1968; second feasibility study in 1971; siting study by PAEC, NPC and MERALCO engineers; technical and economic study; organizational and financial study; and investment report. Upon receipt of the results of the feasibility studies on 31 July 1973, the President of the Philippines decided on the immediate implementation of the first nuclear plant project by the National Power Corporation (NPC). Licensing and regulation as well as manpower training with the aid of regional or international training agencies will be undertaken by PAEC

New investment powers of Euratom

International Nuclear Information System (INIS)

Hahn, O.

1979-01-01

A steady expansion of nuclear capacity in the European Community is one of the major ways of preventing unacceptable rises in oil imports. Over the period 1978 to 1985, the creation of the necessary nuclear capacity will require about Pound42000 million, and to help utilities Euratom is prepared to provide loans up to 20 per cent of the total investment cost of a project. The purpose is to complement, not replace, traditional financing resources. Fuel cycle facilities may be prominent in future loans. (U.K.)

Studies and research concerning BNFP. Nuclear spent fuel transportation studies

International Nuclear Information System (INIS)

Anderson, R.T.; Maier, J.B.

1979-11-01

Currently, there are a number of institutional problems associated with the shipment of spent fuel assemblies from commercial nuclear power plants: new and conflicting regulations, embargoing of certain routes, imposition of transport safeguards, physical security in-transit, and a lack of definition of when and where the fuel will be moved. This report presents a summary of these types and kinds of problems. It represents the results of evaluations performed relative to fuel receipt at the Barnwell Nuclear Fuel Plant. Case studies were made which address existing reactor sites with near-term spent fuel transportation needs. Shipment by either highway, rail, water, or intermodal water-rail was considered. The report identifies the impact of new regulations and uncertainty caused by indeterminate regulatory policy and lack of action on spent fuel acceptance and storage. This stagnant situation has made it impossible for industry to determine realistic transportation scenarios for business planning and financial risk analysis. A current lack of private investment in nuclear transportation equipment is expected to further prolong the problems associated with nuclear spent fuel and waste disposition. These problems are expected to intensify in the 1980's and in certain cases will make continuing reactor plant operation difficult or impossible

Is Investment in Maize Research Balanced and Justified? An Empirical Study

Directory of Open Access Journals (Sweden)

Hari Krishna Shrestha

2016-12-01

Full Text Available The objective of this study was to investigate whether the investment in maize research was adequate and balanced in Nepalese context. Resource use in maize research was empirically studied with standard congruency analysis by using Full Time Equivalent (FTE of researchers as a proxy measure of investment. The number of researchers involved in maize was 61 but it was only 21.25 on FTE basis, indicating that full time researchers were very few as compared to the cultivated area of maize in the country. Statistical analysis revealed that the investment in maize research was higher in Tarai and lower in the Hills. Congruency index on actual production basis was found low across the eco-zones and even lower across the geographical regions indicating that the investment in maize research was a mismatch and not justified. While adjusted with the equity factor and the research progress factor in the analysis substantial difference was not found in congruency index. This study recommends that substantial increase in investment in maize research is needed with balanced and justified manner across the eco-zones and the geographical regions. Hills need special attention to increase the investment as maize output value is higher in this eco-zone. Eastern and western regions also need increased investment in maize according to their contribution in the output value.

The financing of nuclear power plants

International Nuclear Information System (INIS)

Taylor, M.

2009-01-01

Existing nuclear generating capacity plays an important role in providing secure, economic and low-carbon electricity supplies in many OECD countries. At the same time, there is increasing recognition that an expansion of nuclear power could play a valuable role in reducing future carbon dioxide emissions. However, in recent years only a handful of new nuclear power plants (NPPs) have been built in just a few OECD countries. An important reason for this is the challenges associated with financing the construction of new NPPs. The just-published NEA report entitled The Financing of Nuclear Power Plants examines these challenges. In addition, recognizing that any expansion of nuclear power programmes will require strong and sustained government support, the report highlights the role of governments in facilitating and encouraging investment in new nuclear capacity. Key actions that should be considered by governments that wish to see investment in new NPPs include: - Provide clear and sustained policy support for the development of nuclear power, by setting out the case for a nuclear component in energy supply as part of a long-term national energy strategy. - Work with electricity utilities, financial companies and other potential investors, and the nuclear industry from an early stage to address concerns that may prevent nuclear investment and to avoid mistakes in establishing the parameters for new NPPs. - Establish an efficient and effective regulatory system which provides adequate opportunities for public involvement in the decision-making process, while also providing potential investors with the certainty they require to plan such a major investment. - Put arrangements in place for the management of radioactive waste and spent fuel, and show progress towards a solution for final disposal of waste. For investors in NPPs, the financial arrangements for paying their fair share of the costs must be clearly defined. - Ensure that electricity market regulation does

Portfolio assessments for future generation investment in newly industrializing countries – A case study of Thailand

International Nuclear Information System (INIS)

Vithayasrichareon, Peerapat; MacGill, Iain F.

2012-01-01

This paper assesses future electricity generation portfolios in Thailand in 2030 given uncertain future fossil-fuel prices, carbon pricing policies, electricity demand, and capital costs. Thailand faces challenges for generation investment given its rapid socio-economic progress and fast growing demand. A novel generation investment and planning decision-support tool which incorporates a Monte Carlo extension to conventional optimal generation mix methods combined with portfolio-based analysis techniques, is used. The tool can formally assess tradeoffs between expected future generation costs, cost uncertainties, and CO 2 emissions for the range of different generation portfolios. Results highlight that different levels of future carbon pricing will have significant impacts on the most appropriate generation portfolios. The impact of carbon pricing, however, is not on the appropriate proportion of combined cycle gas turbines (CCGT) in the mix but, instead, on the future role of coal versus nuclear in Thailand. Compared with the current proposed 2030 generation mix, it is possible that there are other generation portfolios that offer lower expected costs, cost uncertainty, and CO 2 emissions depending on future carbon pricing. Results suggest that this investment decision-support approach may have value for electric utilities and policy-makers contemplating significant generation investments under high future uncertainty and conflicting policy objectives. -- Highlights: ► Assess Thailand's future generation portfolios in 2030 under uncertainties. ► Future carbon prices have significant impacts on the appropriate generation mixes. ► Carbon pricing affects the future role of coal versus nuclear in Thailand. ► There may be more appropriate alternatives than the proposed 2030 generation mix. ► This decision-support approach has value for utility and policy decision-making.

Taxation of nuclear rents: Benefits, drawbacks, and alternatives

International Nuclear Information System (INIS)

Morbee, J.; Himpens, P.; Proost, S.

2015-01-01

This paper studies the taxation of nuclear energy using a stylized model of the electricity sector, with one dominant nuclear producer and a competitive fringe of non-nuclear plants. First, we find that the optimal nuclear tax is different depending on the time horizon: the optimal short-run tax has the same order of magnitude as the nuclear taxes imposed in Belgium and Germany, while in the long run the optimal tax may be negative, i.e. a subsidy. Second, government credibility is important: when a government cannot credibly commit, the mere possibility of a short-run tax could severely harm incentives for future investments in lifetime-extending refurbishment or new plants. Third, when there is natural scarcity in nuclear potential, other policies like inviting multiple competitive bidders for lifetime extension franchises or for investments in new plants, may be more efficient ways to increase government revenue. - Highlights: • Taxation of nuclear rents is studied using a dominant firm–competitive fringe model. • The optimal tax can be large in the short run, but possibly negative in the long run. • When a government cannot credibly commit, the tax harms investment incentives. • Other policies like auctioning of nuclear franchises can be more efficient than taxes. • The analytical results are numerically illustrated for the case of Belgium.

Purchasing and inventory management techniques for optimizing inventory investment

International Nuclear Information System (INIS)

McFarlane, I.; Gehshan, T.

1993-01-01

In an effort to reduce operations and maintenance costs among nuclear plants, many utilities are taking a closer look at their inventory investment. Various approaches for inventory reduction have been used and discussed, but these approaches are often limited to an inventory management perspective. Interaction with purchasing and planning personnel to reduce inventory investment is a necessity in utility efforts to become more cost competitive. This paper addresses the activities that purchasing and inventory management personnel should conduct in an effort to optimize inventory investment while maintaining service-level goals. Other functions within a materials management organization, such as the warehousing and investment recovery functions, can contribute to optimizing inventory investment. However, these are not addressed in this paper because their contributions often come after inventory management and purchasing decisions have been made

Integration of renewable energies into the German power system and their influence on investments in new power plants. Integrated consideration of effects on power plant investment and operation

Energy Technology Data Exchange (ETDEWEB)

Harthan, Ralph Oliver

2015-01-14

The increasing share of renewable energies in the power sector influences the economic viability of investments in new conventional power plants. Many studies have investigated these issues by considering power plant operation or the long-term development of the power plant fleet. However, power plant decommissioning, investment and operation are intrinsically linked. This doctoral thesis therefore presents a modelling framework for an integrated consideration of power plant decommissioning, investment and operation. In a case study focusing on Germany, the effects of the integration of renewable energies on power plant decommissioning, investment and operation are evaluated in the context of different assumptions regarding the remaining lifetime of nuclear power plants. With regard to the use of nuclear power, a phase-out scenario and a scenario with lifetime extension of nuclear power plants (by on average 12 years) are considered. The results show that static decommissioning (i.e. considering fixed technical lifetimes) underestimates the capacity available in the power sector in the scenario without lifetime extension since retrofit measures (versus decommissioning) are not taken into account. In contrast, capacity available in the case of nuclear lifetime extension is overestimated since mothballing (versus regular operation) is not considered. If the impact on decommissioning decisions of profit margins accrued during power plant operation are considered (''dynamic decommissioning''), the electricity price reduction effect due to a lifetime extension is reduced by more than half in comparison to static decommissioning. Scarcity situations do not differ significantly between the scenarios with and without lifetime extension with dynamic decommissioning; in contrast, there is a significantly higher need for imports without lifetime extension with static decommissioning. The case study demonstrates that further system flexibility is needed for

Integration of renewable energies into the German power system and their influence on investments in new power plants. Integrated consideration of effects on power plant investment and operation

International Nuclear Information System (INIS)

Harthan, Ralph Oliver

2015-01-01

The increasing share of renewable energies in the power sector influences the economic viability of investments in new conventional power plants. Many studies have investigated these issues by considering power plant operation or the long-term development of the power plant fleet. However, power plant decommissioning, investment and operation are intrinsically linked. This doctoral thesis therefore presents a modelling framework for an integrated consideration of power plant decommissioning, investment and operation. In a case study focusing on Germany, the effects of the integration of renewable energies on power plant decommissioning, investment and operation are evaluated in the context of different assumptions regarding the remaining lifetime of nuclear power plants. With regard to the use of nuclear power, a phase-out scenario and a scenario with lifetime extension of nuclear power plants (by on average 12 years) are considered. The results show that static decommissioning (i.e. considering fixed technical lifetimes) underestimates the capacity available in the power sector in the scenario without lifetime extension since retrofit measures (versus decommissioning) are not taken into account. In contrast, capacity available in the case of nuclear lifetime extension is overestimated since mothballing (versus regular operation) is not considered. If the impact on decommissioning decisions of profit margins accrued during power plant operation are considered (''dynamic decommissioning''), the electricity price reduction effect due to a lifetime extension is reduced by more than half in comparison to static decommissioning. Scarcity situations do not differ significantly between the scenarios with and without lifetime extension with dynamic decommissioning; in contrast, there is a significantly higher need for imports without lifetime extension with static decommissioning. The case study demonstrates that further system flexibility is needed for

Price signals and investment incentives in wholesale electricity spot markets

International Nuclear Information System (INIS)

Vassilopoulos, Philippe

2007-01-01

We look at how prices from energy-only power markets can send the right signals and give the correct incentives for investments in production capacity. Through numerical simulations of spot prices over 2003-2005 we compare the investment signal sent by observed electricity prices in France and what would be competitive prices with an optimal mix and with the installed capacity. Observed prices tend to overestimate profitability for the base-load, making the signal too strong and underestimate profitability for the peak load, making the signal too weak. However, as a large share of consumers is still paying regulated tariffs, scarcity rents are capped. We simulate future prices for France for 2010 to 2020 to understand the incentives to invest. When the entry is free, the incentives to invest given by the future prices are consistent with the optimal mix including the interconnections and nuclear build is strong. With political or regulatory barriers to the construction of new power plants for new entrants (i.e. finding new sites), there are no incentives for the incumbent (that owns all existing base-load and peak load capacity) to add more nuclear capacity. In this situation, new entry would have to be coal or gas except if units are bid strategically to maintain profitability and market share. Moreover, it can also be profitable to limit prices and restrain entry in order to receive higher future revenues. When the base-load is less concentrated and instead of a dominant firm the nuclear capacity is divided into five (equal share) firms, the incentives to invest reappear and the threat of entry becomes more credible. (author) [fr

Ranking independent timber investments by alternative investment criteria

Science.gov (United States)

Thomas J. Mills; Gary E. Dixon

1982-01-01

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

Determinants of Private Investment in Ethiopia: A Time Series Study ...

African Journals Online (AJOL)

In spite of little improvement in the post‐socialist era, the share of private investment in GDP has never been above 6 percent even until 2003. Yet, the reasons behind the weak performance have not been well studied. Hence, investigating the performance trend and maim constraints of private investment in Ethiopia ...

Determinants of Discretionary Investments

Directory of Open Access Journals (Sweden)

K. S. Sujit

2016-03-01

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

Productivity studies of the nuclear waste programme

International Nuclear Information System (INIS)

Lundberg, Haakan

2002-08-01

The Swedish Nuclear Inspectorate reviews and supplements the SKB proposal for cost estimations for the nuclear waste programme. These estimations are of great importance for the determination of annual fees to the Nuclear Waste Fund and guarantee amounts in accordance with the Financing Act. The majority of the Nuclear Waste Fund's assets are invested in real interest bonds, issued by the Swedish state. The average duration for the Nuclear Waste Fund investments was 12.8 years at the end of December 2001. From July 1, 2002 on the Nuclear waste Fund investments will consist of nominal and real bonds on the official market. The Fund is increased in line with the Consumer Price Index (KPI). If real costs within the nuclear waste programme increase at a faster rate than the KPI, there is a risk that the Nuclear Waste Fund will be 'under balanced'. SKI has developed a weighted index, the KBS-3-index, to compare the SKB cost re-estimate with. Productivity changes have however no impact on these indices. The KBS-3-index indicates that there might be a risk that the de facto, cost increases will exceed KPI. An improved productivity might however balance the cost escalations. Productivity is normally defined as production divided by the input of production factors. The production can be a quantity measurement or the value added. A common approach is calculation of the labour productivity. The productivity development within different industries in Sweden and in EU varies, and is not only positive. The so called DEA method is used for productivity and efficiency measurements in public and private operations. Efficiency evaluations based on known norms are not made with the DEA models. Instead the evaluation is performed in relation to an empirically based reference technology, a relative efficiency. A selection or an optimisation of output is difficult for the nuclear waste programme. It is not possible to change parts of the nuclear waste programme to something else

Nuclear decommissioning trusts: A case for convertible bonds

International Nuclear Information System (INIS)

Nichols, R.W.

1992-01-01

Asset-liability management is studied with special emphasis on application of the author's findings to the management of nuclear decommissioning trusts (NDTs). The trust themselves are investment vehicles established to accumulate and build funds to be used to defray future decommissioning costs. Decommissioning, in turn, is the process of dismantling the shell of a nuclear reactor and the surrounding concrete structures, followed by disposal of the radioactive material, the objective being to return the site to a greenfield state i.e. the site is freed up for unrestricted use. Unfortunately, the assets of NDTs are not so easily managed. The liability that the trusts have been established to fund is a highly uncertain moving target for which little historical data is available. This study first develops a framework for selecting portfolios when the investment objective is to invest against a future liability. The challenge then is to build an investment strategy around an uncertain liability, in the presence of taxes and miscellaneous portfolio constraints. The study then explores the viability of convertible bonds for liability-driven investment strategies because of the hybrid debt/equity nature of these instruments

Beryllium-aluminum alloys for investment castings

International Nuclear Information System (INIS)

Nachtrab, W.T.; Levoy, N.

1997-01-01

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

Why nuclear technology

International Nuclear Information System (INIS)

Vieira, Wilson J.; Ishiguro, Yuji; Urbina, Ligia M. Soto

1996-01-01

The importance of nuclear energy in the global society implies the nacional need to give priority and maintain an effective technology policy for nuclear science. In this work, it is considered three points that, although do not represent all the problems in the nuclear sector, were chosen because of their importance and need of change that require: evaluation of the Brazilian scientific policy, which is directed towards the publication in international periodicals, yielding more benefits to the developed countries; evaluation of the few and small investment in laboratories and research institutes, which are the natural producers of technology for the industry and service sectors; evaluation of the lack of concrete of concrete objectives in the universities and research institutes, whose policies are elaborated with-out the due consideration of the collective benefits. It is necessary a national plan for the nuclear are that makes investments in technology development, investments in the laboratories and research institutes, and that makes these universities and research institutes accountable for the success or failure to accomplish the proposed objectives. (author)

Prospective economical study of the nuclear power file; Etude economique prospective de la filiere electrique nucleaire

Energy Technology Data Exchange (ETDEWEB)

Charpin, J M [Commissariat General du Plan, 75 - Paris (France); Dessus, B [Ecodev-CNRS, 92 - Meudon (France); Pellat, R [CEA, 75 - Paris (France)

2000-07-01

On May 7, 1999 an economical study of the overall nuclear file, and in particular, of the back-end part of the fuel cycle and including the reprocessing, was requested by the French Prime Minister. This study includes the cost comparisons with the other means of power production and takes into consideration the environmental costs. The study is shared into five chapters dealing with: 1 - the legacy of the past: todays park of nuclear plants, economical and material status; 2 - the international evolution: the dynamics of nuclear policies worldwide (existing parks and R and D programs), the rise of environmental problems worldwide (CO{sub 2} and the climate convention, nuclear risks, attempts of including environment in the power costs), the choices made for the management of spent fuels in the main countries; 3 - the technological prospects for the power production and use: technologies for the mastery of power demand (residential, industrial and tertiary sectors, power transportation), technologies of power production (production from nuclear, fossil and renewable energies); 4 - prospective scenarios for France: two demand scenarios at the year 2050 vista (energy, electric power), power supply (supply structure with respect to scenarios, nuclear parks, power capacities), environmental aspects (CO{sub 2} emissions, plutonium and minor actinides production); 5 - the economical status of the different scenarios: data preparation, fossil fuel price scenarios, investment and operation costs of the different power production means (nuclear, fossil and renewable energies, natural gas and power distribution networks), comparison between fluxes and cumulated economic costs linked with the different scenarios (investments, exploitation, fuels, R and D, status for 2000 to 2050), time structure of expenditures with respect to the different scenarios (chronology, statuses, kWh costs, sensitivity with respect to the rate of discount, valorization of existing parks in 2050

Regional comparison of nuclear and fossil electric power generation costs

International Nuclear Information System (INIS)

Bowers, H.I.

1984-01-01

Nuclear's main disadvantages are its high capital investment cost and uncertainty in schedule compared with alternatives. Nuclear plant costs continue to rise whereas coal plant investment costs are staying relative steady. Based on average experience, nuclear capital investment costs are nearly double those of coal-fired generation plants. The capital investment cost disadvantage of nuclear is balanced by its fuel cost advantages. New base load nuclear power plants were projected to be competitive with coal-fired plants in most regions of the country. Nuclear power costs wre projected to be significantly less (10% or more) than coal-fired power costs in the South Atlantic region. Coal-fired plants were projected to have a significant economic advantage over nuclear plants in the Central and North Central regions. In the remaining seven regions, the levelized cost of power from either option was projected to be within 10%. Uncertainties in future costs of materials, services, and financing affect the relative economics of the nuclear and coal options significantly. 10 figures

Nuclear thermal propulsion engine cost trade studies

International Nuclear Information System (INIS)

Paschall, R.K.

1993-01-01

The NASA transportation strategy for the Mars Exploration architecture includes the use of nuclear thermal propulsion as the primary propulsion system for Mars transits. It is anticipated that the outgrowth of the NERVA/ROVER programs will be a nuclear thermal propulsion (NTP) system capable of providing the propulsion for missions to Mars. The specific impulse (Isp) for such a system is expected to be in the 870 s range. Trade studies were conducted to investigate whether or not it may be cost effective to invest in a higher performance (Isp>870 s) engine for nuclear thermal propulsion for missions to Mars. The basic cost trades revolved around the amount of mass that must be transported to low-earth orbit prior to each Mars flight and the cost to launch that mass. The mass required depended on the assumptions made for Mars missions scenarios including piloted/cargo flights, number of Mars missions, and transit time to Mars. Cost parameters included launch cost, program schedule for development and operations, and net discount rate. The results were very dependent on the assumptions that were made. Under some assumptions, higher performance engines showed cost savings in the billions of dollars; under other assumptions, the additional cost to develop higher performance engines was not justified

Nuclear power investment risk economic model

International Nuclear Information System (INIS)

Postula, F.D.; Houghton, W.J.

1986-01-01

This paper describes the economic model which was developed to evaluate the net costs incurred by an owner due to an accident induced outage at a nuclear power plant. During such an outage, the portion of the plant operating costs associated with power production are saved; however the owner faces a sizable expense as fossil fuels are burned as a substitute for power from the incapacitated nuclear plant. Additional expenses are incurred by the owner for plant repair and, if necessary, decontamination cost. The model makes provision for mitigating these costs by sales of power, property damage insurance payments, tax write-offs and increased rates

Educational Investments and Economic Development: A Field Study.

Science.gov (United States)

Champaigne, John

A study examined the relationship between educational investments and economic development in the small community of Canandaigua, New York. A field study approach was used to collect data pertaining to the city's population characteristics, income characteristics, economic conditions, unemployment rates, and housing conditions. These data were…

Nuclear power generating costs

International Nuclear Information System (INIS)

Srinivasan, M.R.; Kati, S.L.; Raman, R.; Nanjundeswaran, K.; Nadkarny, G.V.; Verma, R.S.; Mahadeva Rao, K.V.

1983-01-01

Indian experience pertaining to investment and generation costs of nuclear power stations is reviewed. The causes of investment cost increases are analysed and the increases are apportioned to escalation, design improvements and safety related adders. The paper brings out the fact that PHWR investment costs in India compare favourably with those experienced in developed countries in spite of the fact that the programme and the unit size are relatively much smaller in India. It brings out that in India at current prices a nuclear power station located over 800 km from coal reserves and operating at 75% capacity factor is competitive with thermal power at 60% capacity factor. (author)

EDF crippled by nuclear. Study of EDF's nuclear activity perspectives in France - November 2016

International Nuclear Information System (INIS)

Rodriguez, Juan Camilo

2016-11-01

After a discussion of the general context in terms of evolution of the energy market (over-capacity related to the development of renewable energies, limited export perspectives, low prices), of difficult position for the nuclear sector in Europe (an inadequate business model, shutting down of always more plants), of perspectives for EDF (a difficult passage from a monopoly to a competitive market, and a constraining legal framework), this study reports an assessment of EDF's assets. In the next part, it addresses issues related to dismantling and to waste management for French nuclear reactors. It describes the context, outlines that dismantling charges have been under-provisioned, and that assessments made for waste management are not completely reliable, and also discusses consequences in terms of accounting. The cost of future investments is then discussed, with also their consequences in terms of accounting. Financial consequences are finally discussed

Nuclear power and the UK

International Nuclear Information System (INIS)

Murphy, St.

2009-01-01

This series of slides describes the policy of the UK government concerning nuclear power. In January 2008 the UK Government published the White Paper on the Future of Nuclear Power. The White Paper concluded that new nuclear power stations should have a role to play in this country's future energy mix. The role of the Government is neither to build nuclear power plants nor to finance them. The White Paper set out the facilitative actions the Government planned to take to reduce regulatory and planning risks associated with investing in new nuclear power stations. The White Paper followed a lengthy period of consultation where the UK Government sought a wide variety of views from stakeholders and the public across the country on the future of nuclear power. In total energy companies will need to invest in around 30-35 GW of new electricity generating capacity over the next two decades. This is equivalent to about one-third of our existing capacity. The first plants are expected to enter into service by 2018 or sooner. The Office for Nuclear Development (OND) has been created to facilitate new nuclear investment in the UK while the Nuclear Development Forum (NDF) has been established to lock in momentum to secure the long-term future of nuclear power generation in the UK. (A.C.)

Action Investment Energy Games

DEFF Research Database (Denmark)

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

2012-01-01

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

Marginal Accuracy of Castings Fabricated with Ringless Casting Investment System and Metal Ring Casting Investment System: A Comparative Study.

Science.gov (United States)

Kalavathi, M; Sachin, Bhuvana; Prasanna, B G; Shreeharsha, T V; Praveen, B; Ragher, Mallikarjuna

2016-02-01

The thermal expansion of the investment can be restricted by the metal casting ring because the thermal expansion of the ring is less than that of the investment. The ringless casting procedure is in use in clinical dentistry, though there is little scientific data to support its use in fixed partial dentures. In this study, marginal discrepancy of castings produced with the ringless casting technique and the conventional technique using the metal rings were compared. A total of 30 wax patterns were fabricated directly on a metal die. Optical stereomicroscope was used to measure the marginal discrepancy between the metal die and wax patterns. A total of 15 castings were invested using Bellavest T phosphate-bonded investment with the ringless technique and 15 were invested with the same investment with a metal ring; 30 castings were produced using a nickel-chromium ceramo-metal alloy. The internal surface of the castings was not modified and seated with finger pressure. The vertical marginal discrepancy was measured using an optical stereomicroscope at a magnification of 100x. The data obtained were statistically analyzed using students t-test (paired t-test and unpaired t-test). The castings of the ringless technique provided less vertical marginal discrepancy (240.56 ± 45.81 μ) than the castings produced with the conventional metal ring technique (281.98± 53.05 μ). The difference was statistically significant. The ringless casting technique had produced better marginal accuracy compared with conventional casting technique. Ringless casting system can be used routinely for clinical purpose.

Atomic Energy of Canada study says nuclear cheaper power for oilsands

Energy Technology Data Exchange (ETDEWEB)

Anon

2003-07-01

The Canadian Energy Research Institute, an independent research organization, reports in a study sponsored by AECL, a federal Crown corporation, that nuclear power is cheaper than gas in creating steam if prices for natural gas remain above $US 3.50 per million BTU. Oil sands producers use natural gas to create steam, which is injected into the ground to melt the bitumen; gas is also used in parts of the oilsands upgrading process. According to reliable estimates some $50 billion of future oilsands investment is now on the drawing board; all of that could be jeopardized by high gas prices. AECL, which has sold only three nuclear reactors since 1996, hopes that the prospect of a continuing high price of natural gas will put it in a favorable position to displace natural gas with nuclear energy as the energy source for creating steam. Environmentalists consider AECL's suggestion of building a nuclear reactor for generating steam for oilsands production as unrealistic, and one that is based on 'nothing but a hope and a prayer'.

The nuclear energy in debate. Myths, realities and climatic changes; A energia nuclear em debate. Mitos, realidades e mudancas climaticas

Energy Technology Data Exchange (ETDEWEB)

Matthes, Felix; Rosenkranz, Gerd; Bermann, Celio (orgs.)

2003-07-01

This study argues myths and the truths that involve nuclear energy: on the one hand, the universal issue on the nuclear energy and its supposed contribution for the global warming reduction, and another one, there are many lower-risk options available to fight against climate change. Investing in nuclear energy carries not only considerable health, financial and security risks, it may also prove to be a dangerous lock-in and dead end. Twenty years after the nuclear disaster of Chernobyl, any attempts by the nuclear industry to celebrate its revival and to paint itself as the solution to climate change should be rejected. Policy makers around the world should learn from its people, who largely resist the use of nuclear energy. In this context the authors firmly believe that nuclear energy is no answer to climate change. A short-sighted renaissance of nuclear energy would require considerable amounts of public money, which should rather be invested in the development and deployment of renewable energy technologies and energy efficiency measures.

Optimal Responsible Investment

DEFF Research Database (Denmark)

Jessen, Pernille

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

On nuclear power plant uprating

International Nuclear Information System (INIS)

Ho, S. Allen; Bailey, James V.; Maginnis, Stephen T.

2004-01-01

Power uprating for commercial nuclear power plants has become increasingly attractive because of pragmatic reasons. It provides quick return on investment and competitive financial benefits, while involving low risks regarding plant safety and public objection. This paper briefly discussed nuclear plant uprating guidelines, scope for design basis analysis and engineering evaluation, and presented the Salem nuclear power plant uprating study for illustration purposes. A cost and benefit evaluation of the Salem power uprating was also included. (author)

Financing a nuclear programme

International Nuclear Information System (INIS)

Cameron, R.

2010-10-01

Nuclear power plant construction projects have many characteristics in common with other types of large infrastructure investment, both within the power generation sector and elsewhere. However, nuclear power itself has special features that can make nuclear financing particularly challenging. These features include the high capital cost, the relatively long period required to recoup investments, the often controversial nature of nuclear projects. The need for clear solutions and financing schemes for radioactive waste management and decommissioning and the need for nuclear power plants to operate at high capacity factors, preferably under base load conditions. During the previous major expansion of nuclear power in the 1970 and 1980, many nuclear projects suffered very large construction delays and cost overruns. The legacy of such problems increases the risks perceived by potential investors. A recent study undertaken jointly by the Iea and the Nea showed that the competitiveness of nuclear power strongly depends on the cost of financing due to the high share of fixed capital costs in the total lifetime costs of nuclear power. A key issue in this context is the long-term predictability of carbon pricing arrangements, which, for the time being and despite positive evolutions in this respect, most notably in Europe, does not yet exist. This paper will consider how the risks can be mitigated and examine in detail various models for corporate finance and the role of government assistance in providing a suitable financial basis. (Author)

Investment requirements in the energy sector and their financing

Energy Technology Data Exchange (ETDEWEB)

Diel, R; Radtke, G; Stoesel, R

1981-06-01

The present research study illustrates the required volume of investment in the energy sector during the next two decades while referring explicitly to the availability of financial resources. The data for the respective primary energy sources and electric power production relate to the Federal Republic of Germany; still, as far as figures were available, the energy situation of the Western World is taken into account. Starting from the premise that energy needs will continue to grow - albeit at a slower rate -, future investment activity will have to depart from past trends, with their more or less evenly spread recourse to all available primary energy sources, to a substantial reliance on nuclear energy, coal and natural gas as against oil. In addition to the higher capital requirements due to the restructuring of the energy supply, future investment will be characterized by particularly capital-intensive projects and, in addition, by the fact that expensive development schemes must be vigorously pursued. This applies not only to coal gasification and liquifaction but also to regenerative energy sources.

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

Directory of Open Access Journals (Sweden)

Ignatyuk Aleksandr Sergeevich

2013-05-01

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

Regional study on investment for transmission infrastructure in China based on the State Grid data

Science.gov (United States)

Wei, Wendong; Wu, Xudong; Wu, Xiaofang; Xi, Qiangmin; Ji, Xi; Li, Guoping

2017-03-01

Transmission infrastructure is an integral component of safeguarding the stability of electricity delivery. However, existing studies of transmission infrastructure mostly rely on a simple review of the network, while the analysis of investments remains rudimentary. This study conducted the first regionally focused analysis of investments in transmission infrastructure in China to help optimize its structure and reduce investment costs. Using State Grid data, the investment costs, under various voltages, for transmission lines and transformer substations are calculated. By analyzing the regional profile of cumulative investment in transmission infrastructure, we assess correlations between investment, population, and economic development across the regions. The recent development of ultra-high-voltage transmission networks will provide policy-makers new options for policy development.

Investment strategy for low-carbon power generation

International Nuclear Information System (INIS)

Yamasaki, Yukihiro; Matsuhashi, Ryuji; Yoshida, Yoshikuni

2011-01-01

Recently, it is needed to reduce CO 2 emissions for prevention of global warming. In Japan, the power generation sector is the biggest part in terms of CO 2 emissions, therefore it is very important to cope with the reduction of the emissions from this sector. From this point of view, it is assumed that the nuclear power generation is the most practical option to reduce them. In order to evaluate the possibility of introduction of the nuclear power, we built a generation planning model and simulate to analyze the transition of the optimal generation mix. Also, we evaluate the investment in the introduction of the nuclear power quantitatively using the real option analysis. (author)

Multilateral negotiations in foreign investment

Directory of Open Access Journals (Sweden)

David Orlando Ruiz Castro

2016-04-01

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

Incentives of carbon dioxide regulation for investment in low-carbon electricity technologies in Texas

International Nuclear Information System (INIS)

Castillo, Anya; Linn, Joshua

2011-01-01

This paper compares the incentives a carbon dioxide emissions price creates for investment in low carbon dioxide-emitting technologies in the electricity sector. We consider the extent to which operational differences across generation technologies - particularly, nuclear, wind and solar photovoltaic - create differences in the incentives for new investment, which is measured by the operating profits of a potential entrant. First, astylized model of an electricity system demonstrates that the composition of the existing generation system may cause electricity prices to increase by different amounts over time when a carbon dioxide price is imposed. Differences in operation across technologies therefore translate to differences in the operating profits of a potential entrant. Then, a detailed simulation model is used to consider a hypothetical carbon dioxide price of $10-$50 per metric ton for the Electric Reliability Council of Texas (ERCOT) market. The simulations show that, for the range of prices considered, the increase in electricity prices is positively correlated with output from a typical wind unit, but the correlation is much weaker for nuclear and photovoltaic. Consequently, a carbon dioxide price creates much stronger investment incentives for wind than for nuclear or photovoltaic technologies in the Texas market. - Highlights: → Compare incentives for new investment in low-emission electricity technologies created by carbon dioxide price. → Focus on ERCOT power system using stochastic unit commitment model. →Find a greater incentive for wind than solar or nuclear because of correlation between wind generation and increase in electricity prices.

Investments in electricity generation in Croatian liberalized market: energy option

International Nuclear Information System (INIS)

Androcec, I.; Viskovic, A.; Slipac, G.

2004-01-01

The Republic of Croatia should have enough capacities built on its own territory to cover system's peak load at any time for ensuring a long-term reliability of its operation. According to annual increasing of electricity consumption and progressive shutdown of the oldest generating plants, the security of future electricity supply depends on new investments. The market, i.e. a competitive generation, is the driving force in the construction of new power plants. The main stimulus for the construction is the possibility of definite return of invested capital and enabling potential investors to realize the expected revenues (profit). The construction of generating capacities is subject of authorisation procedure or tendering procedure, by approval of the Energy Regulatory Council. The electricity market opening in Croatia is parallel process with establishment of regional energy market in South East Europe where the decision of investment in new power plant will be defined by regional investment priorities, all in the aspect of European Union enlargement. In those liberalisation conditions it is necessary to realize all possible energy options according to the Strategy of Energy Development of Republic of Croatia and to the regional energy market requirements or European Union Directives. New power plant will be realized, because of objective circumstances, through construction of gas power plant or coal power plant and possible nuclear power plant, and in much smaller size through construction of hydro power plants or power plants on renewable energy sources. The possibility of any energy option will be considered in view of: investment cost, operation and maintenance cost, fuel price, external costs, public influence, and through investor's risk. This paper is aiming to analyse the possibility of nuclear power plant construction in Croatia as well as in other small and medium electricity grids. Nuclear option will be comprehensively considered in technical

The biggest investment in the history of Slovakia

International Nuclear Information System (INIS)

Anon

2009-01-01

On 11 June 2009 the General Director and Chairman of the Board of Directors of Slovenske elektrarne Paolo Ruzzini and the Prime Minister of the Slovak Republic Robert Fico announced the signature of contracts with the main suppliers for the completion of units 3 and 4 of Mochovce Nuclear Power Plant. Planned investment of Eur 2.775 billion by 2013 for the Mochovce completion is an important commitment for us and especially in this time, such investment can mitigate the impact of global slowdown in economic growth which impacts Slovakia but also other economies of the world. (author)

Do Resit Exams Promote Lower Investments of Study Time? Theory and Data from a Laboratory Study.

Science.gov (United States)

Nijenkamp, Rob; Nieuwenstein, Mark R; de Jong, Ritske; Lorist, Monicque M

2016-01-01

Although many educational institutions allow students to resit exams, a recently proposed mathematical model suggests that this could lead to a dramatic reduction in study-time investment, especially in rational students. In the current study, we present a modification of this model in which we included some well-justified assumptions about learning and performance on multiple-choice tests, and we tested its predictions in two experiments in which participants were asked to invest fictional study time for a fictional exam. Consistent with our model, the prospect of a resit exam was found to promote lower investments of study time for a first exam and this effect was stronger for participants scoring higher on the cognitive reflection test. We also found that the negative effect of resit exams on study-time investment was attenuated when access to the resit was made uncertain by making it probabilistic or dependent on obtaining a minimal, non-passing grade for the first attempt. Taken together, these results suggest that offering students resit exams may compromise the achievement of learning goals, and they raise the more general implication that second chances promote risky behavior.

Study of energetic balance in uranium cycle and in the nuclear Brazilian program

International Nuclear Information System (INIS)

Davi, E.M.

1982-01-01

The direct and indirect energetic investments for the construction and maintenance of nuclear power plants as well as for the fuel cycle, were analysed. The existing data in the literature was applied to the brazilian nuclear programme with a special attention to those peculiar aspects, particularly the enrichment process and mining. The energetic investments required by the various systems, using the 626 MW nuclear power stations or the 1240 MW, were determined in function of the brazilian ore with 0.108% of U 3 O 8 and of a mine with a stripping ratio (the ratio of tons of overburden to tons of ore) of 28/1. About the enrichment, two hypothesis were considered for the concentration of 235 U in the enrichment plant tails - the tails assay (0.25 and 0.35% of 235 U) and for the specific energy consumption per unit of separative work (3.60 and 4.40 MWh/UTS). The fuel cycles with and without recycling of uranium and plutonium were taken in consideration. During the lifetime of the plants and for the various cases considered there is a self-consumption between 10 and 16 percent of the produced energy. The cumulative energy requirements as a function of time, was made for individual plants and for the brazilian nuclear programme as a whole in its actual form (9 nuclear power plants). (E.G.) [pt

Optimal Regulation of Lumpy Investments

NARCIS (Netherlands)

Zwart, G.; Broer, D.P.

2012-01-01

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

Sustainable Markets Investment Briefings: Investment Treaties

Energy Technology Data Exchange (ETDEWEB)

Cotula, Lorenzo

2007-08-15

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

Commonfund Study of Responsible Investing: A Survey of Endowments and Their Affiliated Foundations

Science.gov (United States)

Commonfund Institute, 2015

2015-01-01

The Commonfund Study of Responsible Investing analyzes policies, practices and attitudes with respect to responsible investing among 200 U.S. colleges and universities, constituting 24.0 percent of the 832 institutions that participated in the 2014 National Association of College and University Business Officers (NACUBO)-Commonfund Study of…

On the future of nuclear power in Brazil

International Nuclear Information System (INIS)

Lameiras, Fernando Soares

2002-01-01

The recent optimism related to the resumption of nuclear energy for the generation of electricity in Brazil has been based on investments by the actual government to finish Angra II, the expansion of INB's facilities, the electricity supply crisis, and, on the external plan, the announcement of the Energy Plan of the George W. Bush government. However, for this resumption to take hold, it is necessary that the nuclear enterprises decrease their dependence on State resources and enter the nuclear power international market. With these measures, it was sought to demonstrate that the interest of the private capital could appear, making feasible the construction of new nuclear power plants. In fact, the major hurdle to the increase of the use of nuclear power is in the economic area. The State does not have resources available to afford the investments necessary to build new nuclear power plants. In contrast, the private sector prefers other alternatives which require less investment and afford faster capital return rates. (author)

As the UK searches for post-Brexit investments, why is the new PM stalling Hinkley Point C?

International Nuclear Information System (INIS)

Shepherd, John

2016-01-01

Since voting in a referendum to leave the European Union, the UK has been hard at work on ''shaping the destiny'' of its place in the big wide world outside the family of EU nations - particularly in terms of business and investment. Shortly after this referendum EDF announced the decision to invest in the Hinkley Point C nuclear project. Inexplicably, new UK prime minister Theresa May said there would be no green light or signing of investment guarantees by her new administration, which ''needed more time'' to consider the project. Nuclear power is not the only industry that the UK will need to nurture to make an economic success of the country in the future - but nuclear will be key to the UK's industrial and economic success.

As the UK searches for post-Brexit investments, why is the new PM stalling Hinkley Point C?

Energy Technology Data Exchange (ETDEWEB)

Shepherd, John [nuclear 24, Redditch (United Kingdom)

2016-08-15

Since voting in a referendum to leave the European Union, the UK has been hard at work on ''shaping the destiny'' of its place in the big wide world outside the family of EU nations - particularly in terms of business and investment. Shortly after this referendum EDF announced the decision to invest in the Hinkley Point C nuclear project. Inexplicably, new UK prime minister Theresa May said there would be no green light or signing of investment guarantees by her new administration, which ''needed more time'' to consider the project. Nuclear power is not the only industry that the UK will need to nurture to make an economic success of the country in the future - but nuclear will be key to the UK's industrial and economic success.

Investment innovation trends: Factor-based investing

Directory of Open Access Journals (Sweden)

Sanja Centineo

2017-05-01

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

Carbon pricing and the competitiveness of nuclear power

International Nuclear Information System (INIS)

Keppler, J.H.; Marcantonini, C.

2011-01-01

A recent NEA study entitled Carbon Pricing, Power Markets and the Competitiveness of Nuclear Energy assesses the competitiveness of nuclear power against coal- and gas-fired power generation in liberalised electricity markets with either CO 2 trading or carbon taxes. It uses daily price data for electricity, gas, coal and carbon from 2005 to 2010, which encompasses the first years of the European Emissions Trading System (EU ETS), the world's foremost carbon trading framework. The study shows that even with modest carbon pricing, competition for new investment in electricity markets will take place between nuclear energy and gas-fired power generation, with coal-fired power struggling to be profitable. The data and analyses contained in the study provide a robust framework for assessing cost and investment issues in liberalised electricity markets with carbon pricing, even in the post-Fukushima context. A summary of the publication main elements is provided in this paper

Investment shocks and the relative price of investment

OpenAIRE

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

2009-01-01

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

The investment decision and its financing in a changing institutional environment: the case of an electronuclear facility

International Nuclear Information System (INIS)

Guillerminet, M.L.

2002-09-01

This document analyzes the consequences of the questioning of the hypothesis of independence between the investment and financing decisions, on the investment choice of a nuclear power company in a European market progressively opening to competition. This company, which can get into debts on the financial market, is taxable and can go bankrupt. It is shown that its investment opportunity, totally irreversible in self-financing, can become partially reversible for inter-dependent investment and financing decisions. (J.S.)

Firm Decisions: Determinants of Investments

OpenAIRE

Ionescu Alexandra

2011-01-01

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

Nuclear power failure signals end of an era

International Nuclear Information System (INIS)

Mariotte, M.

1996-01-01

In the United States, open-quotes the nuclear industry is dead, kaput, finishedclose quotes says Michael Mariotte, executive director of the Nuclear Information and Resource Service in Washington, D.C. Why? Investors are reluctant to gamble their money on a future generation of supposedly safe, economic nuclear power plants. open-quotes in 1979, the 'safe' Three Mile Island-2 reactor turned a several-hundred-million-dollar investment into a billion-dollar loss in a matter of hours,close quotes Mariotte says. open-quotes In fact, investing in nuclear power at this point would be like investing in the Titanic II.close quotes However, diehard proponents of nuclear energy persist in their optimism for a new nuclear age, Mariotte says. These nuclear backers see the need to replace aging plants with a new generation of safer plants. But would a new generation of reactors really be safer? open-quotes To date, the industry may spur some new nuclear plants, it is more likely to lead to alternative renewable sources of energy that are more economical. open-quotes The nuclear age has ended as a result of inefficiency and unacceptable risks...After 50 years of sustained abuse, the Earth has finally and deservedly entered the end of the nuclear age,close quotes Mariotte says

The Economic Pre-feasibility Study of Madura Nuclear Desalination System

International Nuclear Information System (INIS)

Djoko-Birmanto, Moch; Suparman

2004-01-01

The feasibility study is needed in the planning of construction of NPPs SMART type coupled with desalination technology of MED tpe to produce clean water in Madura island. One important part of the feasibility study is the economical and financial analysis. The feasibility criteria of nuclear desalination project is analyzed by using the general parameters that is commonly used in evaluating a project, which is Financial Net Present Value (FNPV), Financial Internal Rate of Return (FIRR) and Payback Period. The calculation result shows that with the electricity selling price of 54.17 mills/KWh, for entirely project funded by the foreign loan, local loan and equity, it could be obtained FIRR 12.73 %, FNPV US$ 75.29 million and Payback Period is 8 years. By seeing from the project feasibility criteria, this nuclear desalination project can be feasible and the investment aspect shows that this project is beneficial because the capital return rate is rather high, the benefit in the end of the economic life-time is rather big and the capital payback period is fast. (author)

Global architecture of innovative nuclear energy

International Nuclear Information System (INIS)

Andreeva-Andrievskaya, L.N.; Kagramanyan, V.S.; Usanov, V.I.; )

2011-01-01

The study Global Architecture of Innovative Nuclear Energy Systems Based on Thermal and Fast Reactors including a Closed Fuel Cycle (GAINS), aimed at harmonization of tools used to assess various options for innovative development of nuclear energy, modeling of jointly defined scenarios and analysis of obtained results is presented in the paper. Objectives and methods of the study, issues of spent fuel and fissile materials management are discussed. Investment risks and economic indicators are also described [ru

IMPACT OF FOREIGN DIRECT INVESTMENT (FDI ON DOMESTIC INVESTMENT IN REPUBLIC OF CROATIA

Directory of Open Access Journals (Sweden)

Igor Ivanović

2015-11-01

Full Text Available The aim of this paper is to investigate how foreign direct investment (FDI affects domestic investment in the Republic of Croatia. More precisely, the general purpose of this study is to determine the impact of net inflow of foreign capital on domestic investment in order to gain a clearer picture about the sensitivity and efficiency of domestic investment. After parsing domestic investment and FDI in Croatia, according to Croatian Bureau of Statistics and the Croatian National Bank, a historical overview of their movement from 1995 to 2014 was analyzed. In the following an overview and comparison of studies from around the world which deal with similar topic was made. In the empirical part; domestic gross fixed capital formation, changes in domestic stocks, net FDI and GDP growth rate was used as variables. Quarterly time series data ranging from the Q1 2001 to Q4 2014 were processed with the subset VAR (vector autoregressive econometric model. The results shows that FDI have negative influence on domestic investment in the Republic of Croatia with time lag.

Spain's nuclear components industry

International Nuclear Information System (INIS)

Kaibel, E.

1985-01-01

Spanish industrial participation in supply of components for nuclear power plants has grown steadily over the last fifteen years. The share of Spanish companies in work for the five second generation nuclear power plants increased to 50% of total capital investments. The necessity to maintain Spanish technology and production in the nuclear field is emphasized

Energy and nuclear power planning study for Algeria

International Nuclear Information System (INIS)

1985-01-01

This study, conducted jointly by a team of engineers and economists from the Sonelgaz company and the IAEA, had three objectives: (1) To perform a preliminary economic study aimed at initiating thinking on the role that nuclear power could play in Algeria's long-term energy structure and to suggest reasonable hypotheses on what share of the energy market nuclear power might supply. (2) To train a team of Algerian engineers and economists in long-term economic planning techniques. Once the team has gained a basic knowledge through this preliminary study, it will be in a position to continue the process, to perform other, more detailed independent analyses and to review the entire process should economic conditions change. (3) To introduce in Algeria the computer techniques and facilities needed to carry out such energy investment planning studies for electricity production. The main aim throughout the studies was to train a team of Algerian engineers in energy planning rather than to come to definitive conclusions on the problem of introducing nuclear power in Algeria. Two successive analyses were performed. The first consisted in evaluating the final energy requirements which will result in the medium and long term (by 2015) from the implementation of the economic development policies in the Five Year Plan (up to 1984) and in the proposals for the next decade (up to 1990) being studied by the Algerian Ministry of Planning. The second part is concerned only with the results regarding future electricity requirements, which are used as input data in studying the optimization of Algeria's future electricity generating system. Various methods of generation are analysed and included in an econometric model in order to make a sequential determination of the most economic composition of power generating capacity

New situation and future of nuclear power plants

International Nuclear Information System (INIS)

Castejon, F.

2008-01-01

The situation of the nuclear power plants in the World is commented, making emphasis on the Spanish case. It is also pointed the difficulty of the nuclear industry to overcome the main caveats of this energy source: To guarantee the safety of the reactors, the management of the high radioactive level waste, and high investments necessary to build a nuclear power plant. These caveats have made that the public opinion is against the nuclear energy in Europe, and especially in Spain. It is difficult that a re launching of nuclear energy without the economical support of the governments, which guarantees the return of the investments. (Author) 7 refs

Investing today in energy for tomorrow. U.S. civilian nuclear industry: high-level oversight. Oil prices: getting close to the psychological threshold. The future of biofuels in question

International Nuclear Information System (INIS)

Anon.

2008-01-01

This issue of Alternatives newsletter features 4 main articles dealing with: 1 - Investing today in energy for tomorrow: Whether to increase or to replace generating capacity, the amount of investment needed in energy infrastructure to meet rising demand has been identified, but many obstacles must be overcome before they become a reality. A status report and personal perspective from Pierre Gadonneix, CEO of EDF, in the 'Expert opinion' section. 2 - U.S. civilian nuclear industry - high-level oversight: The approaches are clearly different, but the licensing processes for nuclear reactor development and operation in France and the United States are both strictly regulated. Alternatives delves further. 3 - Oil prices - getting close to the psychological threshold: Are we going to stop using oil sooner rather than later if crude prices keep going up? European commodities expert Philippe Chalmin shares his opinion. 4 - The future of biofuels in question In many countries, biofuels are seen as an alternative to oil. Still, farmland is not expandable forever and the economics of biofuels deserve some scrutiny

Japanese investment in Peru: limits of developmental investment

OpenAIRE

Kamiya, Marco

2004-01-01

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

Application study of the project management on the nuclear power projects in China Institute of Atomic Energy

International Nuclear Information System (INIS)

Ji Cunxing

2012-01-01

The article introduced the actions of foreign and domestic nuclear power technical services in China Institute of Atomic Energy, the project management theory is applied to the organization, implementation and control of the nuclear power projects. It is analyzed the quality, schedule , investment etc of nuclear power projects, the improving measures and suggestions are bring forward on the project management organization, quality assurance, reduce cost etc. It will raise its nuclear power project management level in China Institute of Atomic Energy. (author)

A Study on the Economic Analysis for Overseas Project of New Nuclear Power Plant Using Binomial Option Pricing Model and Monte Carlo Simulation

Energy Technology Data Exchange (ETDEWEB)

Kim, Beong Gwon; Roh, Myung Sub [KEPCO International Nuclear Graduate School, Ulsan (Korea, Republic of)

2014-10-15

Real options approach is suitable for evaluation of large-scale investment project with great uncertainties. Takizawa and Omori (2001) introduced a real option approach to calculate electricity price for economic feasibility. Rothwell (2006) modeled the net present value (NPV) of building an ABWR in Texas using ROA to determine the risk premium associated with net revenue uncertainty. W.C Yoon (2006) evaluated nuclear power plant construction value using DCF and ROA with sensitivity analysis. The value evaluations involved with nuclear power are very uncertain. This is because of a long period of construction as well as the cost uncertainties of decommissioning and nuclear waste management. Even more elements should be considered in new nuclear power valuation, including the uncertainty from the technology, operating costs, the potential risk of radiation, electricity mechanism and climate policy. In this respect, a traditional method such as discounted cash flow (DCF) can't fully catch the impacts of these uncertainties on nuclear power investment. So it is necessary to develop a proper method to handle such kinds of uncertainties to evaluate the new deployment of nuclear power plants. Meanwhile, overseas construction projects which are required capital investment, localization by target countries are increasing in these days. These elements may influence the uncertainty of project too.

Economical analysis of an alternative strategy for CO2 mitigation based on nuclear power

International Nuclear Information System (INIS)

Alonso, Gustavo; Valle, Edmundo del

2013-01-01

Many countries are pursuing greenhouse gas (GHG) mitigation policies resulting in the increase of use of renewable sources in the electricity sector to mitigate CO 2 emissions. Nuclear energy is a non-emitting CO 2 source that could be used as part of that policy. However, its main drawback is the high investment required for its deployment. On the other hand, wind power is the clean source preferred option to mitigate CO 2 emissions. However, due to its intermittence backup power is needed, in most of the cases it must be provided with combined cycle thermal plants using natural gas. This study performs an economical comparison of a hypothetical implementation of a nuclear strategy to meet the same CO 2 emissions reduction goal that has been obtained by the actual Spaniard strategy (2005–2010) based on wind power. The investment required in both strategies is assessed under different investment scenarios and electricity production conditions for nuclear power. Also, the cost of electricity generation is compared for both strategies. - Highlights: ► Wind power electricity cost including its backup in Spain is assessed. ► Nuclear power is proposed as an alternative to produce the same CO 2 reduction. ► Nuclear power requires less installed capacity deployment. ► Investment to produce the same CO 2 reduction is smaller using nuclear power. ► Electricity generating cost is less expensive using the nuclear option

Neutron radiography inspection of investment castings

International Nuclear Information System (INIS)

Richards, W.J.; Barrett, J.R.; Springgate, M.E.; Shields, K.C.

2004-01-01

Investment casting, also known as the lost wax process, is a manufacturing method employed to produce near net shape metal articles. Traditionally, investment casting has been used to produce structural titanium castings for aero-engine applications with wall thickness less than 1 in (2.54 cm). Recently, airframe manufacturers have been exploring the use of titanium investment casting to replace components traditionally produced from forgings. Use of titanium investment castings for these applications reduces weight, cost, lead time, and part count. Recently, the investment casting process has been selected to produce fracture critical structural titanium airframe components. These airframe components have pushed the traditional inspection techniques to their physical limits due to cross sections on the order of 3 in (7.6 cm). To overcome these inspection limitations, a process incorporating neutron radiography (n-ray) has been developed. In this process, the facecoat of the investment casting mold material contains a cocalcined mixture of yttrium oxide and gadolinium oxide. The presence of the gadolinium oxide, allows for neutron radiographic imaging (and eventual removal and repair) of mold facecoat inclusions that remain within these thick cross sectional castings. Probability of detection (POD) studies have shown a 3x improvement of detecting a 0.050x0.007 in 2 (1.270x0.178 mm 2 ) inclusion of this cocalcined material using n-ray techniques when compared to the POD using traditional X-ray techniques. Further, it has been shown that this n-ray compatible mold facecoat material produces titanium castings of equal metallurgical quality when compared to the traditional materials. Since investment castings can be very large and heavy, the neutron radiography facilities at the University of California, Davis McClellan Nuclear Radiation Center (UCD/MNRC) were used to develop the inspection techniques. The UCD/MNRC has very unique facilities that can handle large parts

GLOBAL TRENDS OF ALTERNATIVE INVESTMENTS

Directory of Open Access Journals (Sweden)

Ivan LUCHIAN

2016-08-01

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

World green electricity, sustaining investments

International Nuclear Information System (INIS)

Le Jannic, N.

2013-01-01

The contribution of the green production to the world production of electricity reached 20.2% in 2011, it means a slight increase in respect to the figure of 2010: 19.8%. Green electricity is the second source of electricity behind fossil energy (67.9%) but before nuclear power (11.7%). The decrease in nuclear power due to the Fukushima accident has automatically benefited green electricity. The figures show the importance of China, China is now the first electricity producer in the world before US and also passed US for the production of green electricity. At the world scale the production of green electricity can break down into: hydro energy (80.5%), wind energy (10.3%), biomass (6.2%), geothermal energy (1.6%) and solar energy (1.4%). The crisis has slowed down the investment in renewable energies in Europe. (A.C.)

Earning capacity of environmentally friendly companies and social responsible investing

International Nuclear Information System (INIS)

Bjerk, Jan

2002-01-01

Firms on Dow Jones Sustainability Index yield over time the same return as the ''ordinary'' firms on the Dow Jones World Stock Index. There are several investment funds today that deal in shares with selected companies having a high environmental or ethical profile. This is Social Responsible Investing (SRI). When the Norwegian company Storebrand Kapitalforvaltning selects companies for SRI, they exclude immediately nuclear power stations, tobacco factories and manufacturers of land mines. In addition to the same return on invested capital, both investors and society get an environmental profit. The firms analysed and selected by Storebrand for SRI contributes significantly less negative environmental effects than the other firms, typically 33% less to the global heating and have on average 53% less toxic emissions and 45% less water consumption

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

Directory of Open Access Journals (Sweden)

Shaista Wasiuzzaman

2013-06-01

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

Emissions trading and investment decisions in the power sector-a case study in Finland

International Nuclear Information System (INIS)

Laurikka, Harri; Koljonen, Tiina

2006-01-01

Organizations, which consider investment in or divestment of power production licences/capacity within the European Community, are exposed to the impacts of the European Union Emission allowance Trading Scheme (EU ETS). In this paper, the consequences of the EU ETS on investment decisions are explored in a country-specific setting in Finland. First, we review the general mechanisms through which the EU ETS influences size, timing and cashflows of an investment. Next, we discuss the projected changes in Finnish power producers' investment environment and examine the financial impacts due to the EU ETS on a case investment decision, a hypothetical condensing power plant (250 MW e ). The standard discounted cash flow (DCF) analysis is extended to take into account the value of two real options: the option to wait and the option to alter operating scale. In a quantitative investment appraisal, the impact of emissions trading not only depends on the expected level of allowance prices, but also on their volatility and correlation with electricity and fuel prices. The case study shows that the uncertainty regarding the allocation of emission allowances is critical in a quantitative investment appraisal of fossil fuel-fired power plants

Perspectives of development of the nuclear market in the world

International Nuclear Information System (INIS)

2006-09-01

Since the end of the second oil shock, the context has never been as favorable as today for a re-launching of nuclear energy. The growth of energy demand requires heavy investments in new power production capacities. The explosion of fossil fuel prices and the implementation of the carbon trade market in Europe have burdened the competitiveness and price of electricity generated from these energy sources. New and renewable energies will not be capable to take up the challenge of production capacities and thus the nuclear power appears as the inevitable solution, despite the investments needed and the problem of wastes management. Moreover, most nuclear plants in operation today were built during the 1970-1980 era and, despite their lifetime extension, the USA, France, Japan, Russia and Germany will have to replace 80 to 100% of their nuclear park within the next 20 years. Taking into account the administrative and construction delays, the investment decisions will have to be taken in the coming years. This study answers the following questions: what reactor technologies dominate the market today? What are the forces in presence at each sector of the nuclear industry? What is the weight of each market segment? Who are the operators positioned in the market of 3. generation reactors? What will be the size of the market by 2030? What are the most attractive markets? Who are the best positioned groups to capture these markets? This study is based on the analysis of 14 representative groups of the nuclear sector: vertically integrated operators, fuel cycle front-end specialists, reactor construction specialists and atypical nuclear fuel companies. (J.S.)

Willingness to pay for renewable energy investment in Korea: A choice experiment study

International Nuclear Information System (INIS)

Ku, Se-Ju; Yoo, Seung-Hoon

2010-01-01

Renewable energy sources are considered as alternatives for coping with the high price of oil and global warming. The Korean government has set a target that 11% of the total primary energy supply should be obtained through renewable energy sources until 2030. In order to develop proper policies for renewable energy investment, it is necessary to analyze the benefits of renewable energy investment based on households' willingness to pay. This study attempts to apply a choice experiment (CE) for assessing renewable energy investment in Korea. Moreover, we employ a multinomial probit (MNP) model to relax the assumption that all respondents have the same preferences for the attributes being valued, which is usually required in empirical CE studies. An MNP model allows the most flexible pattern of error correlation structure. The results reveal that the Korean public puts a value on the protection of wildlife, reduction of pollution, and increased employment opportunities. On the other hand, respondents do not derive significant values from the improvement of landscapes. This study is expected to provide policy-makers with useful information for evaluating and planning policies related to renewable energy investment. (author)

Effects of Trade Openness, Investment and Population on the Economic Growth: A Case Study of Syria

Directory of Open Access Journals (Sweden)

Adel Shakeeb Mohsen

2015-06-01

Full Text Available This study attempts to investigate the role of trade openness, investment and population in the Syrian economy over the period 1980-2010. The cointegration test indicates that GDP is positively and significantly related to the trade openness, investment and population. The Granger causality test indicates bidirectional short-run causality relationships between trade openness, investment, population and GDP. There are also bidirectional long-run causality relationships between investment, population and GDP, and unidirectional long-run causality relationship running from trade openness to GDP. The study result indicates that population has the biggest effect on the GDP, thus we suggest improving the quality of the human capital in the country, as well as improving the investment and opening up the Syrian economy to foreign trade.

Sanitation investments in Ghana

DEFF Research Database (Denmark)

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

2016-01-01

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

Carbon Pricing, Power Markets and the Competitiveness of Nuclear Power

International Nuclear Information System (INIS)

2011-01-01

This study assesses the competitiveness of nuclear power against coal- and gas-fired power generation in liberalized electricity markets with either CO 2 trading or carbon taxes. It uses daily price data for electricity, gas, coal and carbon from 2005 to 2010, which encompasses the first years of the European Emissions Trading System (EU ETS), the world's foremost carbon trading framework. The study shows that even with modest carbon pricing, competition for new investment in electricity markets will take place between nuclear energy and gas-fired power generation, with coal-fired power struggling to be profitable. The data and analyses contained in this study provide a robust framework for assessing cost and investment issues in liberalized electricity markets with carbon pricing. (authors)

Theme Park Investments: How to Beat the Average - A Case Study from the Netherlands

OpenAIRE

Pieter C. M. Cornelis

2014-01-01

(European) theme parks invest approximately 10 percent of their yearly turnover into new rides and park improvements. Without these investments these parks assume not to be a very competitive and appealing daytrip for their target audiences. However, the impact of investments in attracting new visitors is not well-known and seems to differ dramatically between parks. This paper presents a case study from the Netherlands in which a small amusement park applied a suggested, not yet proven, inve...

Postimmigration investments in education : A study of immigrants in The Netherlands

NARCIS (Netherlands)

Tubergen, Frank van; Werfhorst, Herman van de

2007-01-01

We use a unique data source to examine postimmigration investments in education among four immigrant groups in the Netherlands. We derive hypotheses from the Immigrant Human Capital Investment model (IHCI), which argues that immigrants’ investments are an outcome of settlement intentions, skill

Nuclear plant life extension

International Nuclear Information System (INIS)

Negin, C.A.

1989-01-01

The nuclear power industry's addressing of life extension is a natural trend in the maturation of this technology after 20 years of commercial operation. With increasing emphasis on how plants are operated, and less on how to build them, attention is turning on to maximizing the use of these substantial investments. The first studies of life extension were conducted in the period from 1978 and 1982. These were motivated by the initiation, by the Nuclear Regulatory Commission (NRC), of studies to support decommissioning rulemaking. The basic conclusions of those early studies that life extension is feasible and worth pursuing have not been changed by the much more extensive investigations that have since been conducted. From an engineering perspective, life extension for nuclear plants is fundamentally the same as for fossil plants

Exa mining The Measurement Methods of Investment Properties of Real Estate Investment Trusts According to Turkish Accounting Standard 40: Investment Properties Standard

Directory of Open Access Journals (Sweden)

Emine Çına Bal

2015-03-01

Full Text Available Recently, the real estate industry has developed rapidly in Turkey. As an investment tool,investment in real estate became essential. Within the framework of the Capital Markets Law, organized by the Capital Markets Board of Turkey real estate investment trusts, real estate, real estate-based projects, and real estate capital market instruments by investing in a portfolio management company operating in the specific type. In this study, measurement methods of investment properties after recogn 31 real estate investment trust companies that traded in Borsa Istanbul is analyzed in order to examine the effect of policy selection on return on equity, return on asset and market to book value ratio of the companies’ financial statements and disclosures by using the nonparametric test of Mann-Whitney U Test. Non-consolidated financial statements and disclosures for 2013 of 21 real estate investment trust companies is included to the examination. Results of the test that is individually applied for each ratio show that the effect of policy selection on the ratios is statistically insignificant.

Nuclear reactor PBMR and cogeneration; Reactor nuclear PBMR y cogeneracion

Energy Technology Data Exchange (ETDEWEB)

Ramirez S, J. R.; Alonso V, G., E-mail: ramon.ramirez@inin.gob.mx [ININ, Carretera Mexico-Toluca s/n, 52750 Ocoyoacac, Estado de Mexico (Mexico)

2013-10-15

In recent years the nuclear reactor designs for the electricity generation have increased their costs, so that at the moment costs are managed of around the 5000 US D for installed kw, reason for which a big nuclear plant requires of investments of the order of billions of dollars, the designed reactors as modular of low power seek to lighten the initial investment of a big reactor dividing the power in parts and dividing in modules the components to lower the production costs, this way it can begin to build a module and finished this to build other, differing the long term investment, getting less risk therefore in the investment. On the other hand the reactors of low power can be very useful in regions where is difficult to have access to the electric net being able to take advantage of the thermal energy of the reactor to feed other processes like the water desalination or the vapor generation for the processes industry like the petrochemical, or even more the possible hydrogen production to be used as fuel. In this work the possibility to generate vapor of high quality for the petrochemical industry is described using a spheres bed reactor of high temperature. (Author)

Explaining Foreign Direct Investments in Gujarat: A Study based on an Opinion Survey of Persons Involved in the Foreign Direct Investment Process

OpenAIRE

Morris, Sebastian

2005-01-01

Gujarat has attracted more foreign direct investment (FDI) than what its GDP size alone would suggest. But relative to its peer states (especially Tamilnadu, Delhi, Maharashtra and Karnataka, and possibly Andhra Pradesh) it has fallen short significantly. The above findings which we made in an earlier study are further confirmed through a survey of opinions and views of CEOs and others intimately concerned with the foreign investment decision process. The survey also brought out the crucial i...

On the development of small nuclear power stations

International Nuclear Information System (INIS)

Goetzmann, C.A.

1989-01-01

There are weighty reasons for and against the building of small nuclear power stations. Factors such as specific investment costs, opportunities for and areas of application, geographical conditions as well as those relating to infrastructure, security and availability play an important role in the planning, construction and running of a nuclear power station. For the usual large power stations, the comparatively low specific investment costs and a proven technology are favorable factors which minimize the investment risk. The article presents an overview of reasons for using small power stations and also considers the difficulties which would arise in practice. (orig.) [de

Comparison of initial capital investment requirements for new domestic energy supplies: 1980 update

International Nuclear Information System (INIS)

Schlesinger, B.; Hay, N.E.; Wilkinson, P.

1980-01-01

A.G.A.'s update of its 1978 analysis comparing the initial capital investments required for several domestic sources of alternative energy (coal conversion, oil shale, unconventional natural gas, Alaskan gas, nuclear power, and solar energy) concludes that US energy-supply and utilization systems based on gaseous fuels need substantially less initial capital investment than do equivalent nuclear, coal, and solar electric systems or synthetic-liquids systems. The capital estimates include the costs of resource extraction, processing and conversion, transmission and distribution, and end-use equipment. The cost advantages shown for the three end-use applications compared - residential and small-commercial space heating, premium industrial usage, and large industrial boilers - reflect both the lower capital requirements and higher energy efficiencies of the gaseous systems

Recent progress in the feasibility study for the first nuclear power plant in Indonesia

International Nuclear Information System (INIS)

Subki, I.R.; Iskandar, A.; Supadi, S.

1994-01-01

In September 1989 the Indonesian Government decided to perform a Nuclear Power Plant feasibility study, including a comprehensive investigation of Muris site. This presentation reports on the progress to date in the two main components of this study: (a) the non-site studies, covering energy economics, financing, technical and safety aspects, the fuel cycle and waste management as well as general management aspects, and (b) site and environmental studies, covering field investigations, assessment of site selection, site qualification/evaluation, environmental, socio-economic and cultural impacts. The study is carried out under a comprehensive quality assurance programme developed by a consultancy company - NEWJEC Inc., which compiles with IAEA recommendations and was approved by BATAN. A summary of the main results, recommendations and general conclusions is presented. It is estimated that the total investment for the construction of 2 x 900 MWe or 3 x 600 MWe class Nuclear Power Plant units would be around US$7 to US$9 billion. 8 tabs

Investments

CERN Document Server

Bodie, Zvi

2013-01-01

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

Offshore wind investments – Realism about cost developments is necessary

International Nuclear Information System (INIS)

Schwanitz, Valeria Jana; Wierling, August

2016-01-01

Data available from the recent boom in European offshore wind investments contradict widely held expectations about a decline in costs per kW. Our review shows that scenario projections for investment costs are systematically flawed by over-optimistic assumptions. Contrasting offshore wind technology with onshore wind and nuclear power, we argue that offshore wind could be a candidate for negative learning since a trend towards more complex OWP (offshore wind parks) exists and uncertainty remains high. We estimate technical uncertainty and input cost uncertainty to calculate whether investments in offshore wind technology are profitable today. Applying a real option model to two reference plants using empirically derived parameter values, we allow for sunk cost and the possibility to abandon the investment. We find that for a large parameter range, investments are not profitable, even with substantial support such as feed-in tariffs under the German Energy Act. Therefore, policy incentives for building larger and more complex offshore wind parks bear a high risk to fail in their aim of bringing down investment costs. Policies that instead incentivize the optimization of offshore wind technology – in particular by increasing the load factor and material efficiency and bringing down decommissioning costs – are more sustainable. - Highlights: • We review offshore wind power investments. • Contrary to expectations costs increase. • It is unlikely to see a turn in the near future as complexity is growing. • We deploy an empirically based real option model. • Investments are not profitable across a large parameter range.

INVESTMENT ATTRACTIVENESS OF ENTERPRISES

Directory of Open Access Journals (Sweden)

Nadiia Davydenko

2017-03-01

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

Investment Avenues

Science.gov (United States)

Jain, Priyanka

2012-11-01

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

The Study on Stage Financing Model of IT Project Investment

Directory of Open Access Journals (Sweden)

Si-hua Chen

2014-01-01

Full Text Available Stage financing is the basic operation of venture capital investment. In investment, usually venture capitalists use different strategies to obtain the maximum returns. Due to its advantages to reduce the information asymmetry and agency cost, stage financing is widely used by venture capitalists. Although considerable attentions are devoted to stage financing, very little is known about the risk aversion strategies of IT projects. This paper mainly addresses the problem of risk aversion of venture capital investment in IT projects. Based on the analysis of characteristics of venture capital investment of IT projects, this paper introduces a real option pricing model to measure the value brought by the stage financing strategy and design a risk aversion model for IT projects. Because real option pricing method regards investment activity as contingent decision, it helps to make judgment on the management flexibility of IT projects and then make a more reasonable evaluation about the IT programs. Lastly by being applied to a real case, it further illustrates the effectiveness and feasibility of the model.

The Study on Stage Financing Model of IT Project Investment

Science.gov (United States)

Xu, Sheng-hua; Xiong, Neal N.

2014-01-01

Stage financing is the basic operation of venture capital investment. In investment, usually venture capitalists use different strategies to obtain the maximum returns. Due to its advantages to reduce the information asymmetry and agency cost, stage financing is widely used by venture capitalists. Although considerable attentions are devoted to stage financing, very little is known about the risk aversion strategies of IT projects. This paper mainly addresses the problem of risk aversion of venture capital investment in IT projects. Based on the analysis of characteristics of venture capital investment of IT projects, this paper introduces a real option pricing model to measure the value brought by the stage financing strategy and design a risk aversion model for IT projects. Because real option pricing method regards investment activity as contingent decision, it helps to make judgment on the management flexibility of IT projects and then make a more reasonable evaluation about the IT programs. Lastly by being applied to a real case, it further illustrates the effectiveness and feasibility of the model. PMID:25147845

The study on stage financing model of IT project investment.

Science.gov (United States)

Chen, Si-hua; Xu, Sheng-hua; Lee, Changhoon; Xiong, Neal N; He, Wei

2014-01-01

Stage financing is the basic operation of venture capital investment. In investment, usually venture capitalists use different strategies to obtain the maximum returns. Due to its advantages to reduce the information asymmetry and agency cost, stage financing is widely used by venture capitalists. Although considerable attentions are devoted to stage financing, very little is known about the risk aversion strategies of IT projects. This paper mainly addresses the problem of risk aversion of venture capital investment in IT projects. Based on the analysis of characteristics of venture capital investment of IT projects, this paper introduces a real option pricing model to measure the value brought by the stage financing strategy and design a risk aversion model for IT projects. Because real option pricing method regards investment activity as contingent decision, it helps to make judgment on the management flexibility of IT projects and then make a more reasonable evaluation about the IT programs. Lastly by being applied to a real case, it further illustrates the effectiveness and feasibility of the model.

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

International Nuclear Information System (INIS)

Zhu, Lei; Fan, Ying

2011-01-01

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

Nuclear safety. Summary of the intermediate report of the special joint parliamentary committee on nuclear safety, present and future outlook of the nuclear industry

International Nuclear Information System (INIS)

Birraux, Claude; Bataille, Christian; Sido, Bruno

2011-09-01

Following the Fukushima events, the Parliamentary Office for Scientific and Technological Assessment (OPECST) was officially asked at the end of March 2011 - jointly by the National Assembly Bureau and by the Senate Committee on the economy, sustainable development, territorial and regional planning - to carry out a study on nuclear safety, and the present and future outlook of the nuclear industry. To carry out this study, seven members of the National Assembly economic affairs and sustainable development committees were also involved, as well as eight members of the Senate Committee on the economy, sustainable development, territorial and regional planning. The first part of this study, devoted to nuclear safety, was completed on 30 June 2011 by the publication of an intermediate report. This report assembles and summarises the information collected during six public hearings and seven trips to nuclear sites. France is one of the nuclear countries where the management of safety is both the most demanding and the most transparent. In this respect, the independence of the Safety Authority is the best guarantee of strictness in the safety field and the existence of pluralistic bodies, such as the Local Information Committees, is the best guarantee of the transparency of safety. But no country can pride itself on being totally safe from a natural disaster of an unexpected scale. The French nuclear industry must therefore ratchet up one more notch its investment in safety and strengthen the means of university research. It must imagine events of even greater intensity, cascading accidents, with interactions between neighbouring industrial sites. Investment must be made by placing safety requirements above any economic consideration and in strict compliance with the specifications of public authorities supervising safety. (authors)

The Information Management Platform on Nuclear Emergency Resources of China

International Nuclear Information System (INIS)

Dong, L.

2016-01-01

Full text: The Chinese government has always attached great importance to nuclear emergency work, and has invested to form lots of nuclear emergency resources. Meanwhile, there also exist some management problems such as repeated investment, fragmented inventory list, inefficient management, etc. To achieve integrated management on the nuclear emergency resources of China, the Chinese government initiated the project “The Information Management Platform on Nuclear Emergency Resources of China”. The goal of the project is to support a timely, managed, controlled, coordinated and effective response while the resources managing process remains economically efficient. The project team firstly completed the nuclear emergency resources classification and encoding. Based on these, the nuclear emergency resources information management software system was developed. The pilot operation in the system was carried out both in Guangxi and Liaoning Province at the same time. Nuclear emergency resources survey was done as the relevant information was put into the database in these regions. The evaluation result on the pilot operation showed that, the information management platform on emergency resources would apparently improve efficiency of nuclear emergency preparedness and response, and it also would increase economical efficiency on inventory list, information management and invest decision. (author

UK investments in global infectious disease research 1997-2010: a case study.

Science.gov (United States)

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

2013-01-01

Infectious diseases account for 15 million deaths per year worldwide, and disproportionately affect young people, elderly people, and the poorest sections of society. We aimed to describe the investments awarded to UK institutions for infectious disease research. We systematically searched databases and websites for information on research studies from funding institutions and created a comprehensive database of infectious disease research projects for the period 1997-2010. We categorised studies and funding by disease, cross-cutting theme, and by a research and development value chain describing the type of science. Regression analyses were reported with Spearman's rank correlation coefficient to establish the relation between research investment, mortality, and disease burden as measured by disability-adjusted life years (DALYs). We identified 6170 funded studies, with a total research investment of UK£2·6 billion. Studies with a clear global health component represented 35·6% of all funding (£927 million). By disease, HIV received £461 million (17·7%), malaria £346 million (13·3%), tuberculosis £149 million (5·7%), influenza £80 million (3·1%), and hepatitis C £60 million (2·3%). We compared funding with disease burden (DALYs and mortality) to show low levels of investment relative to burden for gastrointestinal infections (£254 million, 9·7%), some neglected tropical diseases (£184 million, 7·1%), and antimicrobial resistance (£96 million, 3·7%). Virology was the highest funded category (£1 billion, 38·4%). Leading funding sources were the Wellcome Trust (£688 million, 26·4%) and the Medical Research Council (£673 million, 25·8%). Research funding has to be aligned with prevailing and projected global infectious disease burden. Funding agencies and industry need to openly document their research investments to redress any inequities in resource allocation. None. Copyright © 2013 Elsevier Ltd. All rights reserved.

Foreign Direct Investment versus Portfolio Investment : A Global Games Approach

OpenAIRE

Yamin Ahmad; Pietro Cova; Rodrigo Harrison

2004-01-01

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

Paul Scherrer Institute Scientific Report 1999. Volume IV: Nuclear Energy and Safety

International Nuclear Information System (INIS)

Smith, Brian; Gschwend, Beatrice

2000-01-01

Nuclear energy related research in Switzerland is concentrated at PSI's Nuclear Energy and Safety Research Department (NES). The total effort invested in nuclear energy research in 1999 amounted to about 185 py/a and 4.7 MCHF of investment and maintenance costs. Approximately half of the salary, investment and maintenance costs are externally funded, primarily by the Swiss Utilities, the national co-operative for the disposal of nuclear waste (NAGRA), the Federal Office of Energy (BFE) through the nuclear safety inspectorate (HSK) and the Federal Office for Science and Education (BBW) in connection with the EU Framework Programmes; an increasing part of external funding is coming from domestic and foreign industry (nuclear component and fuel suppliers). The activities of the department are concentrated on three main domains of: Safety and related problems of operating plants; safety features of future reactor and fuel cycles; waste management. 4 % of the total resources are invested in addressing more global aspects of energy. Many of the programs are part of collaborations with universities, industry, or international organisations. Progress in 1999 in these topical areas is described in this report. A list of scientific publications in 1999 is also provided

Paul Scherrer Institute Scientific Report 1998. Volume IV: Nuclear Energy and Safety

Energy Technology Data Exchange (ETDEWEB)

Birchley, Jon; Ringele, Ruth [eds.

1999-09-01

Nuclear energy related research in Switzerland is concentrated at PSI`s Nuclear Energy and Safety Research Department (NES). The total effort invested in nuclear energy research in 1998 amounted to about 195 py/a and 4.5 millions CHF of investment and maintenance costs. Approximately half of the salary, investment and maintenance costs are externally funded, primarily by the Swiss Utilities, the national co-operative for the disposal of nuclear waste (NAGRA), the Federal Office of Energy (BFE) through the nuclear safety inspectorate (HSK) and the Federal Office for Science and Education (BBW) in connection with the EC Framework Programmes; an increasing part of external funding is coming from domestic and foreign industry (nuclear component and fuel suppliers). The activities of the department are concentrated on three main domains of: Safety and related problems of operating plants; safety features of future reactor and fuel cycles; waste management. 4 % of the total resources are invested in addressing more global aspects of energy. Many of the programs are part of collaborations with universities, industry, or international organisations. A list of scientific publications in 1998 is included. (author) figs., tabs., refs.

Paul Scherrer Institute Scientific Report 1998. Volume IV: Nuclear Energy and Safety

International Nuclear Information System (INIS)

Birchley, Jon; Ringele, Ruth

1999-01-01

Nuclear energy related research in Switzerland is concentrated at PSI's Nuclear Energy and Safety Research Department (NES). The total effort invested in nuclear energy research in 1998 amounted to about 195 py/a and 4.5 millions CHF of investment and maintenance costs. Approximately half of the salary, investment and maintenance costs are externally funded, primarily by the Swiss Utilities, the national co-operative for the disposal of nuclear waste (NAGRA), the Federal Office of Energy (BFE) through the nuclear safety inspectorate (HSK) and the Federal Office for Science and Education (BBW) in connection with the EC Framework Programmes; an increasing part of external funding is coming from domestic and foreign industry (nuclear component and fuel suppliers). The activities of the department are concentrated on three main domains of: Safety and related problems of operating plants; safety features of future reactor and fuel cycles; waste management. 4 % of the total resources are invested in addressing more global aspects of energy. Many of the programs are part of collaborations with universities, industry, or international organisations. A list of scientific publications in 1998 is included. (author)

Paul Scherrer Institute Scientific Report 1999. Volume IV: Nuclear Energy and Safety

Energy Technology Data Exchange (ETDEWEB)

Smith, Brian; Gschwend, Beatrice [eds.

2000-07-01

Nuclear energy related research in Switzerland is concentrated at PSI's Nuclear Energy and Safety Research Department (NES). The total effort invested in nuclear energy research in 1999 amounted to about 185 py/a and 4.7 MCHF of investment and maintenance costs. Approximately half of the salary, investment and maintenance costs are externally funded, primarily by the Swiss Utilities, the national co-operative for the disposal of nuclear waste (NAGRA), the Federal Office of Energy (BFE) through the nuclear safety inspectorate (HSK) and the Federal Office for Science and Education (BBW) in connection with the EU Framework Programmes; an increasing part of external funding is coming from domestic and foreign industry (nuclear component and fuel suppliers). The activities of the department are concentrated on three main domains of: Safety and related problems of operating plants; safety features of future reactor and fuel cycles; waste management. 4 % of the total resources are invested in addressing more global aspects of energy. Many of the programs are part of collaborations with universities, industry, or international organisations. Progress in 1999 in these topical areas is described in this report. A list of scientific publications in 1999 is also provided.

Energy investments and employment

International Nuclear Information System (INIS)

1993-08-01

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

On attracting investment to Russian economy

Directory of Open Access Journals (Sweden)

Oleinik Elena

2017-01-01

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

[Several problems concerning population investment].

Science.gov (United States)

Liu, Z

1982-07-29

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

A method for systematic resource allocation for improved nuclear power plant performance

International Nuclear Information System (INIS)

Doboe, L.; Golay, M.; Todreas, N.; Li, F.

2000-01-01

An investigation was made on plant improvement investments in terms of the methods and criteria used in cooperation with the staffs of a group of nuclear power plants, aiming to understand better the methods used within US nuclear power plants for allocating investments. Cost analyses were being used the authors translated the process into a mathematical format. A spectrum of practices, ranging from use of informal power relationship-based processes to format benefit was found among different organizations. Cost-based processes structured to take into account a broad range of decision factors. Factors such as cost results, risk aversion and required uncertainty premiums were included in the treatment. Ultimately, competing investments can be ranked using the method presented in order of their return upon investment at an equivalent level of uncertainty. A method for ranking the attractiveness of nuclear power plant investments is presented which takes into account consistently factors of return upon investment, uncertainty and decision-maker risk aversion. Hopefully its use will result in improved decisions. (M.N.)

Korean Investment in EU through Holding Companies: A Case Study

Directory of Open Access Journals (Sweden)

Seong-Bong Lee

1998-09-01

Full Text Available When transnational enterprises set subsidiary companies in certain area, their major aim is to invest indirectly through the holding companies which hold invested share. Especially, because of the geographical neighborhood and economic integration, investing by holding companies is common in Europe. In Europe, taking full advantage of holding company is out of the following two reasons. Firstly, the efficiency and flexibility of the manage strategy of a group could be elevated by making full use of the holding company. Secondly, the transnational enterprises have the possibility of flexible management at the tax strategy level. Recently, the Korean companies are making the best use of holding companies when they are Marching into the EU. In the year 1996, group K purchased 8 enterprises of a certain industry section of B, a German company, setting holding companies in Germany. The analysis result of the case shows that the manage efficiency could be risen and the taxation could be reduced by way of making use of holding companies. As to the Korean investment efficiency of overseas indirect investment in EU, this thesis brought forward a blueprint about integrating the local companies.

Conditions of a new development of the nuclear energy: the new imperatives of the electric competition; Condiciones de un nuevo desarrollo de la energia nuclear: los nuevos imperativos de la competencia electrica

Energy Technology Data Exchange (ETDEWEB)

Finon, D. [Centre International de Recherche sur l' Environment et le Developpement, CNRS, Campus du Jardin Tropical 45 bis, avenue de la Belle Gabrielle 94736, Nogent-sur-Marne Cedex (France)

2009-07-01

In this work firstly, it is present a panorama that it makes mention to the energy and environmental aspects of long term for which the reactivation of the nuclear sector could be one of the main answers in the electric industry. Next, we will determine the specific imperatives that weigh on the nuclear investment in a market environment. Later on we will examine the way in that the general problem of the investments in the liberalized electric industries takes progressively to abandon the competitive pattern of reference in diverse countries, that which allows to establish a field most favorable for the nuclear investment. Finally, we will analyze the viability of the public areas that the states could apply to create a specific mark dedicated to organize the nuclear investments in the electric industries where the competition continued being very strong. (Author)

Department of Energy: monitoring and control of British Nuclear Fuels plc

International Nuclear Information System (INIS)

1989-01-01

British Nuclear Fuels plc (BNFL) was set up in 1971 to take over the nuclear fuel production and reprocessing activities of the United Kingdom Atomic Energy Authority with the Department of Energy (as majority shareholder) being responsible for the monitoring and control of BNFL's activities. BNFL's activities include the production of nuclear fuel, uranium enrichment, and the transportation and reprocessing of spent fuel. Its major capital investment includes the construction of the Thermal Oxide Reprocessing Plant (THORP) due for completion in 1992. This study examined the effectiveness of the Department's arrangements for monitoring and control and for safeguarding the Government's investment in the company, the arrangements for examining BNFL's capital investment programme and the extent to which the Department's main aims have been achieved. The examination was restricted to the financial performance. The National Audit Office found evidence to suggest that BNFL's financial performance has not kept pace with the general performance level of British Industry. Future success and performance will depend on the success of the THORP plant. (U.K.)

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

DEFF Research Database (Denmark)

Hindelang, Steffen

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

A legal study on mining investment in India

Energy Technology Data Exchange (ETDEWEB)

Lee, Kyeong Han [Korea Institute of Geology Mining and Materials, Taejon (Korea, Republic of)

1997-12-01

India having a high potentiality of mineral resources has been changing its economic structure from a state governing system to a liberalized one since 1991 after Mr. Lao was elected as a Prime Minister. Since then, all the policies have been focused on luring foreign investment through providing lots of tax incentives and favorable investment environment. Mining industry which accounts about 3.5% of the GDP is also opened to foreign investors as well as private sector after amendment of the Mines and Minerals (Regulation and Development) Act in March, 1994. The Indian Government`s Ministry of Mines regulates and promotes mining sector, other than coal, oil and natural gas and atomic minerals. Traditionally as the government is organized to manage industries from upstream to downstream, coal is controlled by the Ministry of Coal and Oil and Natural gas is under the Ministry of Oil and Natural gas. Environmental controls for the mining sector are regulated by the Environment (Protection) Act, 1986, the Forest conservation Act, 1980, the MMRD Act and rules made under it. In Oil and Natural Gas sector, the Central Government is empowered by the Oilfield (Regulation and Development) Act, 1948 to grant mining rights for the exploration and production of mineral oil and natural gas. In 1993, the Coal Mines Nationalization Act, 1973 was amended to permit power and cement plants to mine coal for captive consumption. Recently the government has announced the Integrated Coal Policy (ICP), which envisages allotment of coal mining blocks to any company registered under the Indian Company Law. Social infrastructures are not sufficient to match expected increasing demand. Expansion of transportation facilities and Power capacity are urgent matters to support its economy. Considering the investment environment and resources potentiality, India is one of the attractive country to invest. However, as the policies and other relevant legislative frameworks are revised so fast in

Interaction between Dynamic Financing and Investments

DEFF Research Database (Denmark)

Dockner, Engelbert J.; Mæland, Jøril; Miltersen, Kristian R.

Debt priority rules, i.e., the rules determining how different classes of debt split the firm's assets after bankruptcy, influence the firm's investment decisions. Existing debt benefits from an investment either because the investment is equity financed or because new debt issued to (partly......) finance the investment has lower priority in the event of bankruptcy as is the case for the commonly used absolute priority rule (APR). This incentivizes equity holders to under invest. If debt priority rules are specified in such a way that existing debt can be exploited by issuing new debt, do equity...... holders have the incentive to over invest. We formulate a dynamic structural model to study the interaction of initial capital structure choice, investment policy, subsequent debt issues, and debt priority rules. We find that priority rules have a substantial impact on investment timing as well...

Total and EDF invest

International Nuclear Information System (INIS)

Signoret, St.

2008-01-01

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

New nuclear power in the UK: A strategy for energy security?

International Nuclear Information System (INIS)

Watson, Jim; Scott, Alister

2009-01-01

The aim of this paper is to explore the extent to which the construction of new nuclear power plants in the UK can safeguard or enhance energy security. The paper starts with a discussion of energy security, and breaks it down into four main categories of threat. These include threats due to fossil fuel scarcity and external disruptions, problems due to a lack of investment in infrastructure, threats due to technology or infrastructure failure, and risks due to domestic activism or terrorism. The paper then discusses one of the most common strategies put forward to improve security-the promotion of diversity within energy systems. Following this, the paper assesses the potential for new nuclear investment to ameliorate security threats in each of the four categories introduced earlier in the paper. The paper concludes that whilst nuclear investment can help to mitigate some threats to UK energy security, the government's case for supporting this investment ignores some equally important security issues. As a result, the energy security case for nuclear power has not yet been made.

New nuclear power in the UK. A strategy for energy security?

Energy Technology Data Exchange (ETDEWEB)

Watson, Jim; Scott, Alister [Sussex Energy Group, SPRU, The Freeman Centre, University of Sussex, Brighton, East Sussex BN1 9QE (United Kingdom)

2009-12-15

The aim of this paper is to explore the extent to which the construction of new nuclear power plants in the UK can safeguard or enhance energy security. The paper starts with a discussion of energy security, and breaks it down into four main categories of threat. These include threats due to fossil fuel scarcity and external disruptions, problems due to a lack of investment in infrastructure, threats due to technology or infrastructure failure, and risks due to domestic activism or terrorism. The paper then discusses one of the most common strategies put forward to improve security - the promotion of diversity within energy systems. Following this, the paper assesses the potential for new nuclear investment to ameliorate security threats in each of the four categories introduced earlier in the paper. The paper concludes that whilst nuclear investment can help to mitigate some threats to UK energy security, the government's case for supporting this investment ignores some equally important security issues. As a result, the energy security case for nuclear power has not yet been made. (author)

New nuclear power in the UK: A strategy for energy security?

Energy Technology Data Exchange (ETDEWEB)

Watson, Jim, E-mail: w.j.watson@sussex.ac.u [Sussex Energy Group, SPRU, Freeman Centre, University of Sussex, Brighton, East Sussex BN1 9QE (United Kingdom); Scott, Alister [Sussex Energy Group, SPRU, Freeman Centre, University of Sussex, Brighton, East Sussex BN1 9QE (United Kingdom)

2009-12-15

The aim of this paper is to explore the extent to which the construction of new nuclear power plants in the UK can safeguard or enhance energy security. The paper starts with a discussion of energy security, and breaks it down into four main categories of threat. These include threats due to fossil fuel scarcity and external disruptions, problems due to a lack of investment in infrastructure, threats due to technology or infrastructure failure, and risks due to domestic activism or terrorism. The paper then discusses one of the most common strategies put forward to improve security-the promotion of diversity within energy systems. Following this, the paper assesses the potential for new nuclear investment to ameliorate security threats in each of the four categories introduced earlier in the paper. The paper concludes that whilst nuclear investment can help to mitigate some threats to UK energy security, the government's case for supporting this investment ignores some equally important security issues. As a result, the energy security case for nuclear power has not yet been made.

Review of capital investment in economic growth cycle

Science.gov (United States)

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

2016-11-01

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

Investing in Germany's nuclear expertise can reap international awards

Energy Technology Data Exchange (ETDEWEB)

Shepherd, John [nuclear 24, Brighton (United Kingdom)

2015-07-15

At the international expert conference, Annual Meeting on Nuclear Technology (AMNT 2015) in Berlin in May, there was a very welcome public admission from one of the German government's key policymakers. The director-general of the energy policy department at the Federal Ministry for Economic Affairs and Energy (Bundesministerium fuer Wirtschaft und Energie - BMWi), Thorsten Herdan, said the high level of expertise available throughout Germany's nuclear energy industry was greatly valued at home and abroad and must be retained. He rightly said that the country's technical competence and know-how ''will still be needed'' - despite the country's commitment to phasing out the use of nuclear at home under the politically-inspired 'energy transition' (Energiewende). The nuclear energy industry's commitment to identifying, training and nurturing a new generation of nuclear professionals is self evident. Perhaps what is needed now is for governments such as Germany's, whether supporters of nuclear power generation or not, to do more to endorse the importance of developing nuclear expertise. In the nuclear industry, governments will find a more than willing partner in supporting the training and education of the nuclear engineers and regulators of the future.

Sustainable Markets Investment Briefings: Foreign investment contracts

Energy Technology Data Exchange (ETDEWEB)

Cotula, Lorenzo

2007-08-15

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

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

OpenAIRE

Rasiah, Devinaga

2012-01-01

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

Information Technology Investment Strategy Planning: Balance Scorecard Approach

Directory of Open Access Journals (Sweden)

Henny Hendarti

2011-05-01

Full Text Available Purpose of this research are to prepare the IT investment strategy using Balanced Scorecard approach in the company where the appropriate planning of this IT investment strategy can maximize the competitive benefit in the company, and it also to recommended a strategy of IT investment that can be implemented and measure the rate of return from the IT investment in the company. Research Method used book studies, field studies, and analysis system. Book studies from the books and journal. Field studies done by observation, interview, and questioner, and analysis system done by analyzed the ongoing system in the company. The result from this analysis is a recommendation in investment IT such as sales module, payment module, and report module. Then for the conclusion, this information technology investment planning can be develop to another investment implementation such authorized website of the company and using PDA (Personal Digital AssistantIndex Terms - Planning, Information Technology, Investment, Balance Scorecard

Quantitative investment strategies and portfolio management

NARCIS (Netherlands)

Guo, J.

2012-01-01

This book contains three essays on alternative investments and portfolio management. Taking from a portfolio investor’s perspective, the first essay analyzes the portfolio implication of investing in hedge funds when there is a hedge fund lockup period. The second essay studies the investment

Study on generation investment decision-making considering multi-agent benefit for global energy internet

Science.gov (United States)

Li, Pai; Huang, Yuehui; Jia, Yanbing; Liu, Jichun; Niu, Yi

2018-02-01

Abstract . This article has studies on the generation investment decision in the background of global energy interconnection. Generation investment decision model considering the multiagent benefit is proposed. Under the back-ground of global energy Interconnection, generation investors in different clean energy base not only compete with other investors, but also facing being chosen by the power of the central area, therefor, constructing generation investment decision model considering multiagent benefit can be close to meet the interests demands. Using game theory, the complete information game model is adopted to solve the strategies of different subjects in equilibrium state.

Role of nuclear fusion in future energy systems and the environment under future uncertainties

International Nuclear Information System (INIS)

Tokimatsu, Koji; Fujino, Jun'ichi; Konishi, Satoshi; Ogawa, Yuichi; Yamaji, Kenji

2003-01-01

Debates about whether or not to invest heavily in nuclear fusion as a future innovative energy option have been made within the context of energy technology development strategies. This is because the prospects for nuclear fusion are quite uncertain and the investments therefore carry the risk of quite large regrets, even though investment is needed in order to develop the technology. The timeframe by which nuclear fusion could become competitive in the energy market has not been adequately studied, nor has roles of the nuclear fusion in energy systems and the environment. The present study has two objectives. One is to reveal the conditions under which nuclear fusion could be introduced economically (hereafter, we refer to such introductory conditions as breakeven prices) in future energy systems. The other objective is to evaluate the future roles of nuclear fusion in energy systems and in the environment. Here we identify three roles that nuclear fusion will take on when breakeven prices are achieved: (i) a portion of the electricity market in 2100, (ii) reduction of annual global total energy systems cost, and (iii) mitigation of carbon tax (shadow price of carbon) under CO 2 constraints. Future uncertainties are key issues in evaluating nuclear fusion. Here we treated the following uncertainties: energy demand scenarios, introduction timeframe for nuclear fusion, capacity projections of nuclear fusion, CO 2 target in 2100, capacity utilization ratio of options in energy/environment technologies, and utility discount rates. From our investigations, we conclude that the presently designed nuclear fusion reactors may be ready for economical introduction into energy systems beginning around 2050-2060, and we can confirm that the favorable introduction of the reactors would reduce both the annual energy systems cost and the carbon tax (the shadow price of carbon) under a CO 2 concentration constraint

Investment under uncertainty : Timing and capacity optimization

NARCIS (Netherlands)

Wen, Xingang

2017-01-01

This thesis consists of three chapters on analyzing the optimal investment timing and investment capacity for the firm(s) undertaking irreversible investment in an uncertain environment. Chapter 2 studies the investment decision of a monopoly firm when it can adjust output quantity in a market with

Optimal Responsible Investment

DEFF Research Database (Denmark)

Jessen, Pernille

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

Research of relationship between uncertainty and investment

Institute of Scientific and Technical Information of China (English)

MENG Li; WANG Ding-wei

2005-01-01

This study focuses on revealing the relationship between uncertainty and investment probability through real option model involving investment critical trigger and project earning. Use of Matlab software on the experimental results showing that project earning volatility influences investment probability, led the authors to conclude that this notion is not always correct, as increasing uncertainty should have an inhibiting effect on investment, and that in certain situation, increasing uncertainty actually increases the investment probability and so, should have positive impact on investment.

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

Science.gov (United States)

2013-12-23

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

Capital investment costs of nuclear power plants

International Nuclear Information System (INIS)

Woite, G.

1978-01-01

The purpose of the article is to summarize capital cost experience and estimates in industrialized and developing Member States of the IAEA, and to provide some guidance for cost extrapolation. The relative merits of different types and sizes of nuclear and conventional power plants for an expanding electricity generation system are compared over an adequate planning period

Nuclear economics 2000: Deterministic and probabilistic projections of nuclear and coal electric power generation costs for the year 2000

International Nuclear Information System (INIS)

Williams, K.A.; Delene, J.G.; Fuller, L.C.; Bowers, H.I.

1987-06-01

The total busbar electric generating costs were estimated for locations in ten regions of the United States for base-load nuclear and coal-fired power plants with a startup date of January 2000. For the Midwest region a complete data set that specifies each parameter used to obtain the comparative results is supplied. When based on the reference set of input variables, the comparison of power generation costs is found to favor nuclear in most regions of the country. Nuclear power is most favored in the northeast and western regions where coal must be transported over long distances; however, coal-fired generation is most competitive in the north central region where large reserves of cheaply mineable coal exist. In several regions small changes in the reference variables could cause either option to be preferred. The reference data set reflects the better of recent electric utility construction cost experience (BE) for nuclear plants. This study assumes as its reference case a stable regulatory environment and improved planning and construction practices, resulting in nuclear plants typically built at the present BE costs. Today's BE nuclear-plant capital investment cost model is then being used as a surrogate for projected costs for the next generation of light-water reactor plants. An alternative analysis based on today's median experience (ME) nuclear-plant construction cost experience is also included. In this case, coal is favored in all ten regions, implying that typical nuclear capital investment costs must improve for nuclear to be competitive

Essays in Investment Theory

International Nuclear Information System (INIS)

Bobtcheff, C.

2006-01-01

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

Deterministic versus Stochastic Sensitivity Analysis in Investment Problems : An Environmental Case Study

NARCIS (Netherlands)

van Groenendaal, W.J.H.; Kleijnen, J.P.C.

2001-01-01

Sensitivity analysis in investment problems is an important tool to determine which factors can jeopardize the future of the investment.Information on the probability distribution of those factors that affect the investment is mostly lacking.In those situations the analysts have two options: (i)

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

Science.gov (United States)

2011-01-12

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

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

Science.gov (United States)

2010-01-01

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

The Canadian Centre for Nuclear Innovation

Energy Technology Data Exchange (ETDEWEB)

Root, J., E-mail: John.Root@usask.ca [Canadian Centre for Nuclear Innovation, Inc., Saskatoon, Saskatchewan (Canada)

2013-07-01

The Canadian Centre for Nuclear Innovation (CCNI) was incorporated on December 20, 2011, to help place Saskatchewan among global leaders of nuclear research, development and training, through investment in partnerships with academia and industry for maximum societal and economic benefit. As the CCNI builds a community of participants in the nuclear sector, the province of Saskatchewan expects to see positive impacts in nuclear medicine, materials research, nuclear energy, environmental responsibility and the quality of social policy related to nuclear science and technology. (author)

Passive cooling of a fixed bed nuclear reactor

International Nuclear Information System (INIS)

Petry, V.J.; Bortoli, A.L. de; Sefidwash, F.

2005-01-01

Small nuclear reactors without the need for on-site refuelling have greater simplicity, better compliance with passive safety systems, and are more adequate for countries with small electric grids and limited investment capabilities. Here the passive cooling characteristic of the fixed bed nuclear reactor (FBNR), that is being developed under the International Atomic Energy Agency (IAEA) Coordinated Research Project, is studied. A mathematical model is developed to calculate the temperature distribution in the fuel chamber of the reactor. The results demonstrate the passive cooling of this nuclear reactor concept. (authors)

Power sector investment risk and renewable energy: A Japanese case study using portfolio risk optimization method

International Nuclear Information System (INIS)

Bhattacharya, Anindya; Kojima, Satoshi

2012-01-01

The conventional pricing mechanism used for electricity systematically hides huge investment risks which are embedded in the overall cost of production. Although consumers are often unaware of these risks, they present a large financial burden on the economy. This study applies the portfolio optimization concepts from the field of finance to demonstrate the scope of greater utilization of renewable energies (RE) while reducing the embedded investment risk in the conventional electricity sector and its related financial burden. This study demonstrates that RE investment can compensate for the risks associated with the total input costs; such costs being external volatilities of fossil fuel prices, capital costs, operating and maintenance costs and the carbon costs. By means of example, this case study shows that Japan could in theory obtain up to 9% of its electricity supply from green sources, as compared to the present 1.37%, based on the utilization of a portfolio risk-analysis evaluation. Explicit comparison of the monetary values of the investment risks of conventional and renewable energy sources shows that renewable energies have high market competitiveness. The study concludes with a recommendation that, as a business objective, investors would benefit by focusing on electricity supply portfolio risk minimization instead of cost. This could also inherently increase the supply of renewable energy in the market. - Research highlights: ►Energy sector investors should not be bothered only about the absolute cost figures of the input factors like fossil fuels but should also be careful about the fluctuation of their costs while making the investment decisions. ►Inclusion of renewable energy in the investment portfolio can increase the cost apparently but can reduce the risk hedging costs, too. ►International carbon price may not be a good factor to encourage renewable energy investment in the market.

Optimisation of Investment Resources at Small Enterprises

Directory of Open Access Journals (Sweden)

Shvets Iryna B.

2014-03-01

Full Text Available The goal of the article lies in the study of the process of optimisation of the structure of investment resources, development of criteria and stages of optimisation of volumes of investment resources for small enterprises by types of economic activity. The article characterises the process of transformation of investment resources into assets and liabilities of the balances of small enterprises and conducts calculation of the structure of sources of formation of investment resources in Ukraine at small enterprises by types of economic activity in 2011. On the basis of the conducted analysis of the structure of investment resources of small enterprises the article forms main groups of criteria of optimisation in the context of individual small enterprises by types of economic activity. The article offers an algorithm and step-by-step scheme of optimisation of investment resources at small enterprises in the form of a multi-stage process of management of investment resources in the context of increase of their mobility and rate of transformation of existing resources into investments. The prospect of further studies in this direction is development of a structural and logic scheme of optimisation of volumes of investment resources at small enterprises.

Trends in Business Investment

OpenAIRE

Lydon, Reamonn; Scally, John

2014-01-01

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

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

OpenAIRE

Collan, Mikael

2004-01-01

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

Significance of the fuel cycle aspects in CEA studies on future nuclear systems

International Nuclear Information System (INIS)

Carre, F.; Thomas, J.B.; Boidron, M.

2001-01-01

Nuclear energy has unique assets to meet the requirements for a sustainable development in terms of economic competitiveness, environmental friendliness and natural resources saving. Future nuclear system studies conducted by the CEA aim at investigating and developing promising technologies for the medium and the long term for reactors, fuels and the fuel cycle to make nuclear power eligible as one of the major energy sources of the sustainable development. It also aims at maintaining at the best possible level the expertise and the technologies that the CEA will be able to bring to future national and international projects likely to meet market needs in the next decades, which are still uncertain both in terms of performances and time scale. Progress for future nuclear systems is principally sought in the following areas: reinforced economic competitiveness against other available electricity generation means, with a special emphasis put on reducing the investment cost; enhanced safety, especially through an increased resistance to core damages in case of severe accident, and whenever possible by dedicated strategies to exclude core melting; cleanliness through minimising the production of long lived radioactive waste; resource saving through an optimum utilisation of the available resources of fissile and fertile materials; enhanced resistance to proliferation risks; potentialities for other applications than electricity production. (author)

A review of the OECD/NEA Study on the economics of the nuclear fuel cycle

International Nuclear Information System (INIS)

Zarimpas, N.; Stevens, G.H.; Nuclear Energy Agency

1994-01-01

The paper presents an overview of the recent study carried out by OECD's Nuclear Energy Agency on the economics of the nuclear fuel cycle. The investment appraisal method of deriving the lifetime levelised fuel cost required the examination of the entire fuel cycle cash outflow based on component prices. The cash outflows were discounted to a base date using the selected discount rate which was set, for the reference case, at 5 per cent per annum (real). The levelised fuel cycle cost was derived in mills/kWh terms by equating the net present value of the entire fuel cycle cost and the net present value of the total electrical output over the station lifetime, where both have been discounted to the same date. The study's reference fuel cycle options and costs are discussed and a comparison with earlier NEA work is provided. 6 refs., 2 tabs., 3 figs

Green investment in sustainable housing. SEV recommendation

International Nuclear Information System (INIS)

Fokkema, J.

1996-07-01

In cooperation with the Triodos Bank, SEV carried out a study on the possibility to invest money from green investment funds at low interest in houses which are designed and built in a sustainable and energy efficient way. By order of the Triodos Bank and SEV others drafted a guideline to assess dwellings and calculated the financial and economical consequences of green investments in sustainable housing. The results of those studies formed the basis of the SEV recommendation to the Dutch State Secretary of Housing and Planning and the Dutch State Secretary of Economic Affairs, April 1996, to expand the planned Green Investment Regulation to the possibility to invest money in sustainable houses. It is expected that the Green Investment Regulation will come into effect September 1996. 2 appendices

Financial Development and Investment-Cash Flow Sensitivity

Directory of Open Access Journals (Sweden)

Jungwon Suh

2007-06-01

Full Text Available Using firm-level data from thirty-five countries around the world, this paper empirically examines whether investment-cash flow sensitivity reflects financial constraints. Recent US studies have raised questions on the prediction that investment-cash flow sensitivity is a measure of financial constraints. Looking at thirty-five countries with varying degrees of financial development, this study tests whether investment-cash flow sensitivity is in fact related to financial constraints. In most countries, the evidence supporting the argument that firms likely facing financially constraints display high investment-cash flow sensitivity is weak. Moreover, the evidence that firms in the absence of developed financial markets display high investment-cash flow sensitivity is also weak. Overall, the results from this international investigation do not support the prediction that investment-cash flow sensitivity reflects financial constraints.

Investments

CERN Document Server

Bodie, Zvi; Marcus, Alan J.

2017-01-01

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

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

International Nuclear Information System (INIS)

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

2001-01-01

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

The EPR: an unexplainable breach of the investment cost with respect to previous levels

International Nuclear Information System (INIS)

Dessus, Benjamin

2012-01-01

After having recalled some important figures published by the French Court of Audit in its report on the costs of the nuclear sector, the author comments the historic evolution of investment costs of the existing French nuclear reactors since the 1970's, and then the evolution of these costs for the different reactor types and generations. The author notably discusses the evolution of 'overnight' costs of the French nuclear reactors between 1978 and 2016, and outlines the huge increase noticed for the EPR

Coping with nuclear power risks: the electric utility incentives

International Nuclear Information System (INIS)

Starr, C.; Whipple, C.

1982-01-01

The financial risks associated with nuclear power accidents are estimated by interpolating between frequency-vs.-severity data from routine outages and the frequency-vs.-severity estimates from the Nuclear Regulatory Commission's (NRC's) Reactor Safety Study (WASH-1400). This analysis indicates that the expected costs of plant damage and lost power production are large compared to the public risks estimated in WASH-1400, using values from An Approach to Quantitative Safety Goals for Nuclear Power Plants (NUREG-0739), prepared by the NRC Advisory Committee on Reactor Safeguards. Analyses of the cost-effectiveness of accident-prevention investments that include only anticipated public safety benefits will underestimate the value of such investments if reductions in power plant damage risk are not included. The analysis also suggests that utility self-interest and the public interest in safety are generally coincident. It is argued that greater use could be made of this self-interest in regulation if the relationship between the NRC and the industry were more cooperative, less adversary in nature

Crisis will impact investments

International Nuclear Information System (INIS)

Anon.

2008-01-01

class'. If investments are not completed in time, analysts said European energy markets are likely to have a difficult time once the recession is over. The credit crunch should short-circuit the investment cycle, leading to a lack of generation capacities and infrastructures. It will likely slow down renewable projects and some nuclear investments, consequently raising CO 2 emissions due to an increased output from fossil-fueled plants. 'Security of supply and CO 2 emissions curbing issues will be exacerbated after the crisis', said C. Lewiner, global leader of energy, utilities and chemicals at Capgemini. 'To avoid this, utilities and governments should keep their investment plans in zero carbon generation investments'

ESG Integration and the Investment Management Process : Fundamental Investing Reinvented

NARCIS (Netherlands)

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

2016-01-01

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

GREEN INVESTMENT: A STRATEGY FOR SUSTAINABLE ECONOMIC GROWTH AND INVESTMENT

Directory of Open Access Journals (Sweden)

Jaya Shukla

2014-01-01

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

The challenge of financing nuclear power plants

International Nuclear Information System (INIS)

Csik, B.J.

1999-01-01

To date, more then 500 nuclear power reactors have been successfully financed and built. Experience in recent nuclear projects confirms that nuclear power will not cease to be a viable option due to a worldwide financing constraint. For financing nuclear plants there are special considerations: large investment; long lead and construction times; complex technology; regulatory risk and political risk. The principal preconditions to financing are a national policy supporting nuclear power; creditworthiness; economic competitiveness; project feasibility; assurance of adequate revenues; acceptability of risks; and no open-ended liabilities. Generally, nuclear power plants are financed conventionally through multi-sources, where a package covers the entire cost. The first source, the investor/owner/operator responsible for building and operating the plant, should cover a sizable portion of the overall investment. In addition, bond issues, domestic bank credits etc. and, in case of State-owned or controlled enterprises, donations and credits from public entities or the governmental budget, should complete the financing. A financially sound utility should be able to meet this challenge. For importing technology, bids are invited. Export credits should form the basis of foreign financing, because these have favorable terms and conditions. Suppliers from several countries may join in a consortium subdividing the scope of supply and involve several Export Credit Agencies (ECAs). There are also innovative financing approaches that could be applied to nuclear projects. Evolutionary Reactors with smaller overall investment, shorter construction times, reliance on proven technology, together with predictable regulatory regimes and reliable long-term national policies favorable to nuclear power, should make it easier to meet the future challenges of financing. (author)

Nuclear industry (Finance) Act 1981

International Nuclear Information System (INIS)

1981-01-01

The purpose of the Act is to enable British Nuclear Fuels Limited to make borrowings backed by Government guarantees in order to finance its ten year investment programme. More specifically, the Act raises the financial limit applicable to British Nuclear Fuels Limited from pound 500 million to pound 1,000 million. (NEA) [fr

Investment banks in AIC – alternative loan

Directory of Open Access Journals (Sweden)

O.V. Lysenok

2015-03-01

Full Text Available Determining the status and problems of modern investment in agricultural enterprises, as well as ways to improve their financial security. The article deals with the essence of investments and their varieties. The dynamics of the securities portfolio of domestic banks and investments in agriculture. According to a study submitted proposals to increase investment banking businesses in the agricultural sector, which is necessary to create such conditions are not included in the calculation of the volume of investment regulations investment banking provided by agribusiness companies; availability of specialized banks, which will focus its resources on the development of agricultural enterprises; give banks the opportunity to issue special investment certificates, which received funds will be channeled exclusively on investing in the development of agricultural enterprises; for the above to create an appropriate legal framework.

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

Energy Technology Data Exchange (ETDEWEB)

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

1979-12-12

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

The law for Japan Nuclear Ship Development Agency

International Nuclear Information System (INIS)

1977-01-01

The Agency aims at developing nuclear-ships according to the priciples of the Atomic Energy Basic Law to promote the uses of atomic energy and help the progress of shipbuilding and marine transportation. The capital is 100 million yen plus the funds invested by the persons other than the government. The investment certificates are issued for the funds invested. The officers consist of the chief director, the representative director, not more than three directors and one auditor. The chief director and the auditor are appointed by the competent minister (the Prime Minister and the Minister of Transport) consulting with the Atomic Energy Commission. The representative director and directors are nominated by the chief director with approval of the competent minister. The scope of business includes the undertakings concerning nuclear ships, such as; the planning, building and operation; the training of the crew; the research and study; popularization of the results of such operations, etc. These activities are to be made in accordance with the basic program of nuclear-ship development determined by the competent minister. A chapter is dedicated to the finance and accounting, which includes provisions on the business year, authorization of the business program and others, the disposition of the business program and others, the disposition of profits and losses, and loans, etc. The Agency is supervised by the competent minister. (Okada, K.)

Relative costs to nuclear plants: international experience

International Nuclear Information System (INIS)

Souza, Jair Albo Marques de

1992-03-01

This work approaches the relative costs to nuclear plants in the Brazil. It also presents the calculation methods and its hypothesis to determinate the costs, and the nacional experience in costs of investment, operating and maintenance of the nuclear plants

Identification of the real options in a program of nuclear plants

International Nuclear Information System (INIS)

Camacho G, D.; Diaz N, M. J.; Reinking C, A.

2008-01-01

The development of our societies and our economies this intimately related to electric power and this as well with the generating sources, due to the projection of world-wide growth should go associate with a strategy of growth of energy generation. Considering to the nuclear power as an option to satisfy the energy needs that a country can provide two main immediate benefits: The stabilization of prices of security of provision of electric power of the nation. The care of the environment, since the gas discharges greenhouse are almost null. At the moment nuclear energy represents economically a viable option for the capital investment, taking into account the development from technology, the policies implemented by the state and the prices of other fuels. Due to the great investment that its require for the nuclear plants are necessary to use financial tools that allow to analyze the future scenes in which ours investment can be seen affected and to value the flexibility of being able to enlarge, to postpone or to stop our project in order to have majors profits or to diminish the lost ones. This valuation of the flexibility can be obtained from the called method Real Options. By analysis of Real Options the process is understood to apply to the methodology of the Financial Options to the valuation of projects or the management of real assets. The Real Options appear in flexible plans, projects, activities or enterprise investments, like for example, to leave or to sell the investment project before concluding it, changing to their use or its technology, to prolong their life, the option to choose, one or the other capacity, among others possibilities. In this work is an example of the application of the method of Real Options in the decision to invest or to defer the investment for the construction of a nuclear plant following the behavior of the tariffs in the market or the costs of generation of other technologies with which a nuclear plant competes. (Author)

Real Options Analysis of Electricity Investments

Energy Technology Data Exchange (ETDEWEB)

Heggedal, Ane Marte

2012-07-01

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

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

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

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

Investment behaviour in individual nontransferable quota systems

DEFF Research Database (Denmark)

Jensen, Frank; Andersen, Jesper Levring; Jensen, Carsten Lynge

2012-01-01

This article studies the investment behaviour of the Danish demersal fishery in the North Sea. For the study period, this fishery is regulated by variants of individual nontransferable quotas. It is shown that interest rates and capital stocks are primary determinants of investments. Another......, the variance of the estimated parameters is lower in the disaggregated models. This result arises because vessels in the disaggregated models are more homogeneous. Furthermore, investments in machinery, electronics and vessels are governed by one year lagged variables, while investment in gears is governed...

Theoretical studies in nuclear reactions and nuclear structure

International Nuclear Information System (INIS)

Wallace, S.J.

1991-05-01

This report discusses topics in the following areas: Hadronic structure; hadrons in nuclei; hot hadronic matter; relativistic nuclear physics and NN interaction; leptonic emissions from high-Z heavy ion collisions; theoretical studies of heavy ion dynamics; nuclear pre-equilibrium reactions; classical chaotic dynamics and nuclear structure; and, theory of nuclear fission

Testing evolutionary theories of discriminative grandparental investment.

Science.gov (United States)

Kaptijn, Ralf; Thomese, Fleur; Liefbroer, Aart C; Silverstein, Merril

2013-05-01

This study tests two evolutionary hypotheses on grandparental investments differentiated by the child's sex: the paternity uncertainty hypothesis and the Trivers-Willard hypothesis. Data are from two culturally different countries: the Dutch Longitudinal Aging Study Amsterdam (n=2375) and the Chinese Anhui Survey (n=4026). In the Netherlands, grandparental investments are biased towards daughters' children, which is in accordance with the paternity uncertainty hypothesis. But in China, grandparental investments are biased towards sons' children, which is in conflict with the paternity uncertainty hypothesis. This study found no support for the Trivers-Willard hypothesis. These results raise doubts over the relevance of paternity uncertainty as an explanation of a grandparental investment bias towards daughters' children that is often found in Western populations. The results suggest that discriminative grandparental investments are better understood as the outcome of cultural prescriptions and economic motives.

Social Investment in Times of Crisis

DEFF Research Database (Denmark)

Prandini, Riccardo; Orlandini, Matteo; Guerra, Alice

The purpose of this report is to analyse and understand whether and how, in the last twenty years, the EU member countries have adopted welfare systems which incorporate aspects of social investment. The quantitative and comparative study is focused on social investment strategies across 28...... European member states. The aim is to map out and explore the effectiveness of different social investment strategies. An overview of macro-level welfare performance indicators consist of a review of available macro-indicators to assess welfare performance in the light of social investment decisions....

Nuclear fuel cycle modelling using MESSAGE

International Nuclear Information System (INIS)

Guiying Zhang; Dongsheng Niu; Guoliang Xu; Hui Zhang; Jue Li; Lei Cao; Zeqin Guo; Zhichao Wang; Yutong Qiu; Yanming Shi; Gaoliang Li

2017-01-01

In order to demonstrate the possibilities of application of MESSAGE tool for the modelling of a Nuclear Energy System at the national level, one of the possible open nuclear fuel cycle options based on thermal reactors has been modelled using MESSAGE. The steps of the front-end and back-end of nuclear fuel cycle and nuclear reactor operation are described. The optimal structure for Nuclear Power Development and optimal schedule for introducing various reactor technologies and fuel cycle options; infrastructure facilities, nuclear material flows and waste, investments and other costs are demonstrated. (author)

RELATIONSHIP BETWEEN INWARD FOREIGN DIRECT INVESTMENT, DOMESTIC INVESTMENT, FORMAL AND INFORMAL INSTITUTIONS: EVIDENCE FROM CHINA

Directory of Open Access Journals (Sweden)

Waqar Ameer

2017-07-01

Full Text Available This study examines relationship between Inward FDI and domestic investment in China, using co-integration and Granger causality analysis (Including bivariate and multivariate Granger causality models. We have used auto-regressive distributed lags(ARDL econometric methodology technique to define relationship between inward FDI and domestic investment using time series data for China. Our study examines long run effects of FDI inflows on domestic investment over time span 1990-2014 for China using informal, formal institutions and key macroeconomic variables as control variables in the model. The results suggest that conclusions drawn from bivariate model may not be valid because of omission of important control variables. Our results of multivariate model show that there is positive unidirectional causality running from IFDI to DI in the long run. In the short run, both inward FDI and domestic investment do not allow Granger causality.

Debt Covenant Renegotiation and Investment

DEFF Research Database (Denmark)

Arnold, Marc; Westermann, Ramona

This paper analyzes the impact of debt covenant renegotiation outside corporate distress on firms. We study a structural model of a levered firm that can renegotiate debt both at investment and in corporate distress. Covenant renegotiation at investment reduces the agency cost of debt because...... it induces a firm value maximizing investment financing policy and mitigates the overinvestment problem. Incorporating renegotiation outside corporate distress is crucial to explain empirical occurrence patterns of debt renegotiation, the impact of debt renegotiation on corporate securities, and the relation...

Financial Investing Made for Women: The Economic and Psychological Reasons Why Women Invest Differently Than Men

Directory of Open Access Journals (Sweden)

Carolina M. Reece

2013-07-01

Full Text Available Financial Investing is becoming not only a way to plan for a future source of retirement, but also a method to control a personal financial situation without having to rely on government aid or family member support to survive during the elderly years. Today, individuals cannot depend on social security being available in the future for financial support. It is especially vital for women to become more interested in making long-term investments that will provide a secure and effective approach to money management and financial planning. However, as various studies have concluded, women are less interested than men in managing their finances due to various economic and psychological reasons related to risk aversion, sociopolitical and biological factors, and income. This study reviews previous research findings related to the relationship between women and investments, as well as several economic and psychological reasons behind the gender gap on financial investing are presented. Surveys were used to identify the main reasons for women’s tendency to rely less on financial investments. It was found that women who had some source of financial investment showed confidence in the stock market, as well as in their financial decisions. These results contradict some of the findings shown in previous research.

Levelized Costs for Nuclear, Gas and Coal for Electricity, under the Mexican Scenario

Energy Technology Data Exchange (ETDEWEB)

Palacios, J.C.; Alonso, G.; Ramirez, R.; Gomez, A.; Ortiz, J.; Longoria, L.C.

2004-10-06

In the case of new nuclear power stations, it is necessary to pay special attention to the financial strategy that will be applied, time of construction, investment cost, and the discount and return rate. The levelized cost quantifies the unitary cost of the electricity (the kWh) generated during the lifetime of the nuclear power plant; and allows the immediate comparison with the cost of other alternative technologies. The present paper shows levelized cost for different nuclear technologies and it provides comparison among them as well as with gas and coal electricity plants. For the calculations we applied our own methodology to evaluate the levelized cost considering investment, fuel and operation and maintenance costs, making assumptions for the Mexican market, and taking into account the gas prices projections. The study also shows comparisons using different discount rates (5% and 10%), and some comparisons between our results and an OECD 1998 study. The results are i n good agreement and shows that nuclear option is cost competitive in Mexico on the basis of levelized costs.

Levelized Costs for Nuclear, Gas and Coal for Electricity, under the Mexican Scenario

International Nuclear Information System (INIS)

Palacios, J.C.; Alonso, G.; Ramirez, R.; Gomez, A.; Ortiz, J.; Longoria, L.C.

2004-01-01

In the case of new nuclear power stations, it is necessary to pay special attention to the financial strategy that will be applied, time of construction, investment cost, and the discount and return rate. The levelized cost quantifies the unitary cost of the electricity (the kWh) generated during the lifetime of the nuclear power plant; and allows the immediate comparison with the cost of other alternative technologies. The present paper shows levelized cost for different nuclear technologies and it provides comparison among them as well as with gas and coal electricity plants. For the calculations we applied our own methodology to evaluate the levelized cost considering investment, fuel and operation and maintenance costs, making assumptions for the Mexican market, and taking into account the gas prices projections. The study also shows comparisons using different discount rates (5% and 10%), and some comparisons between our results and an OECD 1998 study. The results are i n good agreement and shows that nuclear option is cost competitive in Mexico on the basis of levelized costs

FACTORS DETERMINING THE INVESTMENT ATTRACTIVENESS OF THE REGION

Directory of Open Access Journals (Sweden)

O. I. Avtsinov

2014-01-01

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

The study on key performance indices in national nuclear R and D program

International Nuclear Information System (INIS)

Kim, Seong Baek; Park, Nam Je; Park, Hong Jun; Chung, Bum Jin; Kim, Jeong Ha; Seo, Kyung Chun; Kim, Byung Mok

2012-01-01

Korean government has increased its investment of national research and development (R and D) recognizing that science and technology is a core element to bolster national economy and upgrade human life. In addition, measures have been developed to evaluate the R and D performance and contribution as they become critical and play pivotal roles to allocate national R and D budget in order to prevent the spillover effects. The nuclear technology development program is the backbone of the nuclear R and D programs in Korea. Since the nuclear R and D requires not only massive human resources and capitals but huge research equipment and facilities, the nuclear related science technology field is usually led by the government because of the high possibility of risk, failure or rewards, the necessity of huge budget, and the research spin off. The MEST (Ministry of Education and Science Technology) lays the groundwork for the advancement in nuclear R and D and the development of highly advanced technology by securing core technology. In addition, it also fosters world leading scientists with a creative research environment and an efficient R and D infrastructure. The main purpose of the study is to develop the logic model and design key performance indices for nuclear R and D program. The brief review of basic framework and contents for the performance evaluation system was explained in section 2. Based on the suggested evaluation framework, logic model and key performance indices are provided in section 3 and finally, concluding remarks are given in section 4

Investment incentives: regulation of the Finnish electricity distribution

International Nuclear Information System (INIS)

Kinnunen, Kaisa

2006-01-01

Investments into the electricity distribution network are needed to support competition and to guarantee the security of supply as well as a good quality of electricity. The aim of this paper is to study the ex post regulatory system in Finland in context of investment incentives. The second objective is to study how the investments in the sector have developed after the liberalisation and what seem to be the most important factors influencing investments in light of empirical information and how regulation affects them. The investment volumes vary much between years but on average, no drastic developments have taken place

Social cost-benefit analysis and nuclear futures

International Nuclear Information System (INIS)

Pearce, D.W.

1979-01-01

The usefulness of cost-benefit analysis in making nuclear power investment decisions is considered. The essence of social cost-benefit analysis is outlined and shown to be unavoidably value-laden. As a case study six issues relevant to the decision to build on oxide fuel reprocessing plant (THORP) are examined. The potential practical value of using cost-benefit analysis as an aid to decision-making is considered for each of these issues. It is concluded that cost-benefit approach is of limited value in the nuclear power case because of its inapplicability to such issues as the liberty of the individual and nuclear weapons proliferation. (author)

Nuclear reactor PBMR and cogeneration

International Nuclear Information System (INIS)

Ramirez S, J. R.; Alonso V, G.

2013-10-01

In recent years the nuclear reactor designs for the electricity generation have increased their costs, so that at the moment costs are managed of around the 5000 US D for installed kw, reason for which a big nuclear plant requires of investments of the order of billions of dollars, the designed reactors as modular of low power seek to lighten the initial investment of a big reactor dividing the power in parts and dividing in modules the components to lower the production costs, this way it can begin to build a module and finished this to build other, differing the long term investment, getting less risk therefore in the investment. On the other hand the reactors of low power can be very useful in regions where is difficult to have access to the electric net being able to take advantage of the thermal energy of the reactor to feed other processes like the water desalination or the vapor generation for the processes industry like the petrochemical, or even more the possible hydrogen production to be used as fuel. In this work the possibility to generate vapor of high quality for the petrochemical industry is described using a spheres bed reactor of high temperature. (Author)

Experimental study of the combined utilization of nuclear power heating plants for big towns and industrial complexes

International Nuclear Information System (INIS)

Neumann, J.; Barabas, K.

1977-01-01

The paper describes a comparison of nuclear power heating plants with an output corresponding to 1000MW(e) with plants of the same output using coal or oil. The economic aspects are compared, both as regards investment and operation costs. The comparison of the environmental aspects is performed on the atmospheric pollution from exhausts and gaseous emission and on the thermal pollutions in hydrosphere and atmosphere. Basic nuclear power plant schemes with two PWRs, each of 1500MW(th), are described. The plant supplies electric power and heat for factories and municipal heating systems (apartments, shops, and other auxiliary municipal facilities). At the same time the basic heat-flow diagram of a nuclear power heating plant is given, together with the relative losses. The study emphasizes the possible utilization of waste heat for heating glasshouses of 200m 2 . The problems of utilizing waste heat, and the needs of a big town and of industrial complexes in the vicinity of the nuclear power heating plant are also considered. (author)

Governance of nuclear power

International Nuclear Information System (INIS)

Allison, G.; Carnesale, A.; Zigman, P.; DeRosa, F.

1981-01-01

Utility decisions on whether to invest in nuclear power plants are complicated by uncertainties over future power demand, regulatory changes, public perceptions of nuclear power, and capital costs. A review of the issues and obstacles confronting nuclear power also covers the factors affecting national policies, focusing on three institutional questions: regulating the industry, regulating the regulators, and regulatory procedures. The specific recommendations made to improve safety, cost, and public acceptance will still not eliminate uncertainties unless the suggested fundamental changes are made. 29 references

Determinants of private fixed investment in emerging country

Directory of Open Access Journals (Sweden)

Goitsemodimo Abel Molocwa

2018-03-01

Full Text Available The neoclassical and Keynesian theories regard private investment not only as a source of economic growth but also as a determinant of the potential extent of the national income. The aim of this research was to examine the determinants of private fixed investment in South Africa by employing the Johansen cointegration technique and the vector error correction model (VECM analysis. Based on the literature survey it appears that the previous studies mainly focused on private investment in manufacturing and infrastructure sectors therefore this is envisaged to add knowledge to a body of economics literature in this area by focusing more on private fixed investment and its determinants in South Africa. The study concludes that for the period under investigation GDP has the positive sign as expected. This suggests that in the long run it impact positively on private fixed investment. The findings of the study also confirmed that tax rate is a complementary to private fixed investment. Similarly, the real exchange rate coefficient was negative as expected which suggests that the depreciation of the currency stimulates the growth of South Africa private fixed investment. It is obvious that even the best economic model cannot achieve the expected outcomes immediately but these results encourage the study to believe that the South African monetary policy on exchange rate complements private fixed investment. Therefore, the study proposes that both even though both growth and general tax rate are difficult to accomplish simultaneously, they should be used to promote the flow of private fixed investment in South Africa.

An evaluation of the 'phasing out nuclear' cost in France

International Nuclear Information System (INIS)

2012-01-01

This document proposes a synthesis of an assessment of additional investments which would be needed when phasing out nuclear, as well as a study of impacts in terms of increase of electricity production cost, energy transmission and energy bill. It also addresses questions raised by a massive use of renewable energies. Two scenarios are compared to assess the cost of replacement of the nuclear fleet, at constant consumption: keeping a high level of nuclear energy with the development of photovoltaic and wind energy, or phasing out nuclear with a carbon constraint (progressive closing down of nuclear reactors by 2025). The study is based on an economic modelling of the electric system according to some principles and hypotheses which are presented in appendix

A boom in energy technology innovation despite decades of stagnant investment

Energy Technology Data Exchange (ETDEWEB)

Bettencourt, Luis M [Los Alamos National Laboratory; Trancik, Jessika A [SANTA FE INSTITUTE; Kaur, Jasleen [INDIANA UNIV

2009-01-01

Rates of patenting in energy technologies in the United States stagnated during a period of low federal investment in the sector from the mid-1980's through 2000. To analyze the current state of the field, we built a new comprehensive database of energy patents in the USA and worldwide aggregated by nation and technology. We show that innovation in energy technologies, as measured by numbers of new patents, has grown dramatically over the last decade both for renewable and fossil fuel-based technologies, but that traditional investment -government and private support for research and development (R&D) -has not risen commensurately. We also show that while venture capital investment in the sector has increased significantly in the last few years it lags the observed uptick in patenting. We find increasing patenting rates in nations worldwide but also differences in regional priorities, as well as a marked divergence in innovation rates across technologies. Renewable energy technologies - especially solar and wind - currently show the fastest rates of innovation, while patenting levels in nuclear fission have remained low despite relatively high levels of sustained investment. While this sharp increase of innovative activity bodes well for change in the energy sector, the future of emerging technologies may hinge on sustained investment in R&D and favorable incentives for market entry.

Investment Attractiveness of Food Industries in Ukraine

OpenAIRE

L. О.

2017-01-01

Effective investment is a factor for long-term company development. As enhancement of investment attractiveness is a required condition for economic growth and improvement of living standards, it needs to be on the agenda at government and company level. The article’s objective is to study investment attractiveness of food industries in Ukraine over 2012–2015. Investment attractiveness of food industries can be measured by indicators of liquidity, financial sustainability, and profit rate...

Independent assessment of forseeable problems in the nuclear fuel cycle

International Nuclear Information System (INIS)

1975-01-01

Information is presented concerning the U. S. nuclear fuel cycle business including investment requirements; nuclear power growth projection; reliability of uranium supply; enrichment facilities; plutonium recycle; safeguards; and insurance

INVESTMENT FUNDS IN ROMANIA

Directory of Open Access Journals (Sweden)

COPIL CRINA ANGELA

2013-07-01

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

Grass-roots approach: developing qualified nuclear personnel

International Nuclear Information System (INIS)

Anon.

1983-01-01

Nuclear power plants experiencing personnel recruitment problems are trying a grass-roots approach to increase the manpower pool. The Philadelphia Electric Co. and the Toledo Edison Co. are working with local educational institutions to offer nuclear-technology training specific to the needs of nuclear plants. The utilities' investment covers much of the cost of instruction as well as continued training for employees

Management of investment processes on Finnish farms

Directory of Open Access Journals (Sweden)

T. MATTILA

2008-12-01

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

Research on the pricing system of online nuclear power

International Nuclear Information System (INIS)

Xu Dan

2010-01-01

National Development and Reform Commission Issues 'Long-term Nuclear Power Development Plan (2005-2020)' in October, 2007. It is the milestone for great development of the nuclear power plant. By the end of the first half of 2009, the nuclear power companies, mainly leading by CNNC and CGNPC, are busy in expanding the new project investment scale of the nuclear power. They gradually initialize the enormous nuclear investment in Zhejiang, Liaoning, Shandong, Guangxi Province and some other place. Along with the development of the nuclear plant and the reformation of the electricity price, the online electricity price of the nuclear power plant will likely be revised. How long will the price policy of 'One to one price' for each type of plant be hold? How will the online electricity price be set in the future? What kind of theories will be followed in the new pricing policy? And what kind of influence will it have on the operating and constructing nuclear power plants? All these will be the problem to the nuclear power plant. There are a lot of uncertainties in front of the nuclear power enterprise in the future. The article analyzes the cost structure of the nuclear power enterprise. Based on the price theory of the market economy, and after benchmarking with the coal power and some other industries, the article studies the future pricing policy of the nuclear power enterprise. And the article analyzes the future management risk of the nuclear power enterprise after the pricing policy reformation. And through the management improvement, the nuclear power company could response effectively to the price regulation, and minimize the uncertainty caused by the pricing policy reformation to the enterprise operation and management. (author)

Study on the Feasible Investment into the Energy Industry of North Korea

Energy Technology Data Exchange (ETDEWEB)

Chung, W.J. [Korea Energy Economics Institute, Euiwang (Korea)

2001-12-01

The economy of North Korea has fallen into the trap of poverty. One of the reasons is diagnosed at the study that the marginal productions in the economy have diminished due to the past economic extensions without technology developments. The other is that industry productions have been decreased due to the downward spirals for the chains of industry, which came mainly from the restrictions of supply in the overseas dependent energy industry and core parts of heavy industry as the North Korea's relations with the foreign countries became worse. On the assumption that the North Korea makes efforts to develop its economy on a big push-style, this study projected the GDP growth rates and the changes of industry structure in two decades at the scenarios of 'with opening and reforming' and 'with only reforming', 'without opening and reforming' in North Korea. Energy demands by types and industries were then forecasted with the projected GDP growth rates and industry structures at the study. Various concepts over the energy are raised in a relationship of two Koreas. Energy can become economic good for the investment and trade for the mutual benefit or the support goods for humanity like foods and medical supplies, strategical goods for military purposes. On the other hand, energy part would be a leading industry for economic growth in the North and the active and large scale economic cooperation between two Koreas. Though it is reasonable that the energy are invested and traded on a commercial basis between two Koreas, the historical and political properties force the South to support energy to the North as an urgent measure not only for the North Korea's escape from the economic crisis, but for attaining the various political and social purposes between two Koreas. The study on the energy business between two Koreas began with analysing the ways of the South's investments to the energy facilities in North Korea for the

Alternatives for Financing New Nuclear Reactors in Mexico

International Nuclear Information System (INIS)

Alonso, Gustavo; Palacios, Javier C.; Ramirez, Jose R.; Longoria, Luis C.; Valle, Edmundo del

2011-01-01

Nuclear power deployment requires an extensive capital investment that in many cases prevents the addition of new units for single private companies. The deployment of a single unit of 1000 MWe with the current economical cost requires around 5 billion US dollars assuming no delays or unforeseen problems. In Mexico the electricity is produced by the government utility 'Comision Federal de Electridad' with 47 GWe of installed capacity thereby it can afford this kind of investment. Here we assess two financing scenarios for deployment of a single nuclear reactor unit, in the first one the utility will use their own resources and in the second the nuclear power plant will be built using international and national credits, comparisons of these two scenarios are presented. (author)

Paul Scherrer Institut annual report 1995. Annex IV: PSI nuclear energy and safety

Energy Technology Data Exchange (ETDEWEB)

Birchley, J.; Roesel, R.; Doesburg, R. van [eds.] [Paul Scherrer Inst. (PSI), Villigen (Switzerland)

1996-09-01

Nuclear energy research in Switzerland is concentrated at PSI`s Department F4. It is explicitly mentioned in the Institute`s official charter and commands about one fifth of the Institute`s federal resources. Presently, PSI invests approx. 200 py/a in nuclear energy research, one third of this being externally funded; the share of external funding in investment costs totals approx. 50%. This funding is provided by the Swiss utilities and the NAGRA, the Safety Authority (HSK) and the former National Fund for Energy Research (NEFF). PSI`s activities in nuclear research concentrate on three main areas: safety of operating plants, safety features of future reactor concepts and waste management. 7% of personnel are invested in addressing global aspects of energy. (author) figs., tabs., refs.

Paul Scherrer Institut annual report 1995. Annex IV: PSI nuclear energy and safety

International Nuclear Information System (INIS)

Birchley, J.; Roesel, R.; Doesburg, R. van

1996-01-01

Nuclear energy research in Switzerland is concentrated at PSI's Department F4. It is explicitly mentioned in the Institute's official charter and commands about one fifth of the Institute's federal resources. Presently, PSI invests approx. 200 py/a in nuclear energy research, one third of this being externally funded; the share of external funding in investment costs totals approx. 50%. This funding is provided by the Swiss utilities and the NAGRA, the Safety Authority (HSK) and the former National Fund for Energy Research (NEFF). PSI's activities in nuclear research concentrate on three main areas: safety of operating plants, safety features of future reactor concepts and waste management. 7% of personnel are invested in addressing global aspects of energy. (author) figs., tabs., refs

Investment under Uncertainty and Financial Crisis

DEFF Research Database (Denmark)

Jensen, Camilla

The objective of the paper is to test the stability hypothesis – that foreign investors are relatively insulated from uncertainty and how it spills over on their investment adjustment cost. The Q model (implying that investments are explained by the fundamental value of the firm) is implemented...... with reasonable success for firm level panels in Turkey. Robustness of the results and despite the general obstacle that inflation poses on the study is increased by applying different datasets with different time horizons, different measures of investment and profitability and different problems of attrition...... it is found that the decline in the growth of the investment rate for domestic firms is at least twice as high compared to the decline in the growth of the investment rate among foreign held firms....

Chinese Foreign Direct Investment in Indonesia

DEFF Research Database (Denmark)

Gammeltoft, Peter; Tarmidi, Lepi T.

2013-01-01

In Indonesia, no systematic study of Chinese FDI has been undertaken to date. This paper contributes to filling this research gap and analyses the current composition as well as the historical evolution of Chinese FDI in Indonesia, relying on a survey conducted in 2008 among Chinese invested...... enterprises supplemented with key informant interviews, available official statistics and secondary data. Considering the evolution of Chinese investments in Indonesia over time, investments have evolved from being individual and isolated projects to acquiring more systemic properties. Chinese companies have...... acquired a broader sectoral presence in Indonesia and Chinese invested companies in, e.g., extractive or manufacturing activities can increasingly rely on complementary Chinese investments in logistics, travel, finance, etc. Where the local development effects are concerned, a picture emerges where Chinese...

RUSSIAN INDUSTRY INVESTMENT SITUATION

Directory of Open Access Journals (Sweden)

O. V. Pochukaeva

2011-01-01

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

Valuating the Investment Efficiency of Distribution Companies

Directory of Open Access Journals (Sweden)

M. Karajica

2007-01-01

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

The Frontiers of Nuclear Science: A Long-Range Plan

Energy Technology Data Exchange (ETDEWEB)

None, None

2007-12-01

In a letter dated July 17, 2006, the Department of Energy’s (DOE) Office of Science for Nuclear Physics and the National Science Foundation’s (NSF) Mathematical and Physical Sciences Directorate charged the Nuclear Science Advisory Committee (NSAC) to “conduct a study of the opportunities and priorities for U.S. nuclear physics research and recommend a long range plan that will provide a framework for coordinated advancement of the nation’s nuclear science research programs over the next decade.” This request set in motion a bottom-up review and forward look by the nuclear science community. With input from this community-wide process, a 59 member working group, which included the present NSAC members, gathered at the beginning of May, 2007, to develop guidance on how to optimize the future research directions for the field based on the projected resources outlined in the charge letter from DOE and NSF. A new long range plan—The Frontiers of Nuclear Science—grew out of this meeting. For the last decade, the top priority for nuclear science has been to utilize the flagship facilities that were built with investments by the nation in the 1980s and 1990s. Research with these facilities has led to many significant new discoveries that have changed our understanding of the world in which we live. But new discoveries demand new facilities, and the successes cannot continue indefinitely without new investment.

Economical aspects of nuclear energetics

International Nuclear Information System (INIS)

Celinski, Z.

2000-01-01

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

Investment and uncertainty

DEFF Research Database (Denmark)

Greasley, David; Madsen, Jakob B.

2006-01-01

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

Emergy Evaluation of a Swedish Nuclear Power Plant

International Nuclear Information System (INIS)

Kindberg, Anna

2007-03-01

Today it is common to evaluate and compare energy systems in terms of emission of greenhouse gases. However, energy systems should not only reduce their pollution but also give a large energy return. One method used to measure energy efficiency is emergy (embodied energy, energy memory) evaluation, which was developed by the system ecologist Howard T. Odum. Odum defines emergy as the available energy of one kind previously used up directly and indirectly to make a service or product. Both work of nature and work of human economy in generating products and services are calculated in terms of emergy. Work of nature takes the form of natural resources and work of human economy includes labour, services and products used to transform natural resources into something of value to the economy. The quotient between work of nature and work of human economy gives the emergy return on investment of the investigated product. With this in mind the present work is an attempt to make an emergy evaluation of a Swedish nuclear power plant to estimate its emergy return on investment. The emergy return on investment ratio of a Swedish nuclear power plant is calculated to approximately 11 in this diploma thesis. This means that for all emergy the Swedish economy has invested in the nuclear power plant it gets 11 times more emergy in return in the form of electricity generated by nuclear power. The method used in this work may facilitate future emergy evaluations of other energy systems

Emergy Evaluation of a Swedish Nuclear Power Plant

Energy Technology Data Exchange (ETDEWEB)

Kindberg, Anna

2007-03-15

Today it is common to evaluate and compare energy systems in terms of emission of greenhouse gases. However, energy systems should not only reduce their pollution but also give a large energy return. One method used to measure energy efficiency is emergy (embodied energy, energy memory) evaluation, which was developed by the system ecologist Howard T. Odum. Odum defines emergy as the available energy of one kind previously used up directly and indirectly to make a service or product. Both work of nature and work of human economy in generating products and services are calculated in terms of emergy. Work of nature takes the form of natural resources and work of human economy includes labour, services and products used to transform natural resources into something of value to the economy. The quotient between work of nature and work of human economy gives the emergy return on investment of the investigated product. With this in mind the present work is an attempt to make an emergy evaluation of a Swedish nuclear power plant to estimate its emergy return on investment. The emergy return on investment ratio of a Swedish nuclear power plant is calculated to approximately 11 in this diploma thesis. This means that for all emergy the Swedish economy has invested in the nuclear power plant it gets 11 times more emergy in return in the form of electricity generated by nuclear power. The method used in this work may facilitate future emergy evaluations of other energy systems.

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

Science.gov (United States)

2010-04-01

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

Could wind replace nuclear?

International Nuclear Information System (INIS)

2017-01-01

This article aims at assessing the situation produced by a total replacement of nuclear energy by wind energy, while facing consumption demand at any moment, notably in December. The authors indicate the evolution of the French energy mix during December 2016, and the evolution of the rate between wind energy production and the sum of nuclear and wind energy production during the same month, and then give briefly some elements regarding necessary investments in wind energy to wholly replace nuclear energy. According to them, such a replacement would be ruinous

The economic content of the term “investment attractiveness”

Directory of Open Access Journals (Sweden)

E. R. Zakirova

2016-01-01

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

Nuclear energy : Present situation and future prospects

International Nuclear Information System (INIS)

Gray, J.E.

1986-01-01

In 1953, President Eisenhower announced the U.S. ''Atoms for Peace'' program. After slightly more than 30 years, there are in operation, under construction or on order more than 400,000 MW of commercial nuclear power generation capacity located in 35 nations, representing a total investment around a trillion U.S. dollars. The situation is noteworthy in terms of the rate of technical development, deployment and transfer, the magnitude of the financial investment, economic benefits, the favorable impact on public health and safety, and the usual and positive character of cooperation among all concerned. The fundamentals of nuclear power generation with regard to economics, safety and environmental impact are likely to favor the increased use of nuclear power. The future prospect of the nuclear power in the U.S. also will be clarified positively. In many ways, U.S. commercial nuclear power continues to benefit from the Navy nuclear propulsion program. The prospect of supply demand situation in the conversion, enrichment and fabrication of uranium fuel is explained. The amount of spent fuel arising in OECD countries and their storage capability up to 2000 are shown, and the storage capability projected is well in excess. (Kako, I.)

The nuclear review

International Nuclear Information System (INIS)

O'Neill, M.

1995-01-01

The position of the Labour Party on the future of nuclear power in the United Kingdom is presented. Although nuclear power is seen to have a role for many years to come, a future Labour government would not build any more nuclear power stations nor extend the life of existing ones. The relative abundance of cheaper, gas fired generating plants and the attractiveness of environmentally friendly, smaller stations, nearer to their markets and cheap to run, argues against further investment in nuclear power. Nevertheless, the Labour party would sustain a dialogue with the nuclear industry and would be interested in technical developments. For too long attitudes to nuclear power have been based on fear rather than facts. The case for the privatisation of nuclear power stations is considered to be unfounded and the retention of back-end operations in the public sector is essential. (UK)

Investments in liberalised power markets

International Nuclear Information System (INIS)

Grenaa Jensen, S.; Meibom, P.

2005-01-01

There is considerable uncertainty in the Nordic electricity system with respect to the long-term development in production capacity. The process towards liberalisation of the electricity sector started with a situation of a large capacity margin, but this margin is gradually vanishing. Since the potential investors in new production capacity are unaccustomed with investments under the new regime, it is unknown if and when investments will take place. The purpose of the present study is to analyze if and when investors choose to invest in new electricity production capacity depending on their existing portfolio of power producing units. Electricity price scenarios generated with a partial equilibrium model (Balmorel) are combined with a model of investment decisions. In this, various scenarios concerning the development in the Nordic power market, such as new transmission lines between neighbouring countries, more installed wind power, and changes in CO 2 emission trading costs, are used to investigate the consequences for investments in a natural gas fired, combined cycle power plant. The main result of the analysis is that new investments are highly sensitive to investors existing power production portfolio, as new production units affect the merit order in the power market, i.e. compete with the existing power plants. (au)

Investment timing under uncertain renewable energy policy: An empirical study of small hydropower projects

International Nuclear Information System (INIS)

Linnerud, Kristin; Andersson, Ane Marte; Fleten, Stein-Erik

2014-01-01

Policy uncertainty can be a powerful deterrent to immediate investments. Based on panel data of 214 licenses to construct small run-of-the-river hydropower plants, we examine whether the prospect of a common Swedish–Norwegian market for green certificates (i.e., a renewable portfolio standard scheme) affected the timing of investments. Our results show that traditional utilities and other professional investors in the energy market acted in accordance with a real options investment rule, and the prospect of possible future subsidies delayed their investment decision. On the other hand, our results do not show that farmers and other non-professional investors incorporated timing considerations in their investment decisions. Rather, our results indicate that these investors behaved as if their investment opportunity is now-or-never, investing if the project is profitable according to a net present value investment rule, ignoring the opportunity to create additional value by waiting. The observed difference in behavior between professional and non-professional investors is interesting given the distributed nature of many renewable energy technologies, and can help planners and policymakers better understand the forces shaping the future market for electricity. - Highlights: • We examine whether the prospect of introducing subsidies delayed investments in hydropower. • We find that professional and non-professional investors behaved differently. • Professional investors explored the opportunity to create additional value by waiting. • Farmers behaved as if their investment opportunity was now-or-never. • These observations are interesting given the distributed nature of renewable energy technologies

Econometric Study to Foreign Investments and its Determinants in Arabic Countries (1980-2014

Directory of Open Access Journals (Sweden)

Ismail BENGANA

2017-06-01

Full Text Available We aim from this study to determine the factors that have an impact on the direct foreign investment in different Arabic countries. The possibility of existence a long-term equilibrium relationship between them was checked. We concluded that there are a lot of affecting variables on direct foreign investment, but we chose only the important ones by using Cluster Analysis technique than we tested whether is there a relationship between them after we checked the stationary of their time series data which seem to be Auto-Regressive Distributed Lag (ARDL type. Its degrees and border interval have been determined.

Economics of Nuclear Power Plant and the development of nuclear power in Viet Nam

International Nuclear Information System (INIS)

Thanh, Thuy Nguyen Thi; Song, JinHo; Ha, Kwang Soon

2015-01-01

There are many factors affecting the capital costs like: increased plant size, multiple unit construction, improved construct methods, increase the lifetime of plant and so on, and beside is technical to enhancing the safety for NPPs. For the question that whether building a NPP is really economic than other energy resources or not, we will find the answer by comparing the USD per kWh of different energy sources as: nuclear power, coal, oil, hydro natural energy sources. The situation of energy in Vietnam was also mentioned in this paper. Vietnam has an abundant natural resources likes: coal, gas, hydro power etc, but from year 2013 to now Vietnam facing of electricity shortage and to solve the problem, Vietnam Government has chosen nuclear power energy to achieve energy balance between the rate of energy consumption and the ability to energy supply. Eight units will be built in Vietnam and in October 2014 Vietnamese officials have chosen Rosatom's AES-2006 design with VVER-1200/v-491 reactors for country's first nuclear power plant at Ninh Thuan and a second plant should follow based on a partnership with Japan. In this paper, the breakdown of NPP costs is considered. All the costs for building a NPP includes: the investment costs are the largest components (about 60%), fuel costs (15%), O and M costs (25%) and external costs are lower than 1% of the kWh costs. The situation for energy in Vietnam was mentioned with increase annually by 5.5 %, and now the shortage electricity is the big problem in power section. The purpose of this report is to give a general picture to consider the cost of nuclear power. It includes all the costs for building a nuclear power plant like total capital investment costs, production costs, external costs in which the capital investment costs is the largest component of the kWh cost. Nuclear energy Power was chosen to deal with situation of diminishing resources shortages

Economics of Nuclear Power Plant and the development of nuclear power in Viet Nam

Energy Technology Data Exchange (ETDEWEB)

Thanh, Thuy Nguyen Thi; Song, JinHo [University of Science and Technology, Daejeon (Korea, Republic of); Ha, Kwang Soon [KAERI, Daejeon (Korea, Republic of)

2015-05-15

There are many factors affecting the capital costs like: increased plant size, multiple unit construction, improved construct methods, increase the lifetime of plant and so on, and beside is technical to enhancing the safety for NPPs. For the question that whether building a NPP is really economic than other energy resources or not, we will find the answer by comparing the USD per kWh of different energy sources as: nuclear power, coal, oil, hydro natural energy sources. The situation of energy in Vietnam was also mentioned in this paper. Vietnam has an abundant natural resources likes: coal, gas, hydro power etc, but from year 2013 to now Vietnam facing of electricity shortage and to solve the problem, Vietnam Government has chosen nuclear power energy to achieve energy balance between the rate of energy consumption and the ability to energy supply. Eight units will be built in Vietnam and in October 2014 Vietnamese officials have chosen Rosatom's AES-2006 design with VVER-1200/v-491 reactors for country's first nuclear power plant at Ninh Thuan and a second plant should follow based on a partnership with Japan. In this paper, the breakdown of NPP costs is considered. All the costs for building a NPP includes: the investment costs are the largest components (about 60%), fuel costs (15%), O and M costs (25%) and external costs are lower than 1% of the kWh costs. The situation for energy in Vietnam was mentioned with increase annually by 5.5 %, and now the shortage electricity is the big problem in power section. The purpose of this report is to give a general picture to consider the cost of nuclear power. It includes all the costs for building a nuclear power plant like total capital investment costs, production costs, external costs in which the capital investment costs is the largest component of the kWh cost. Nuclear energy Power was chosen to deal with situation of diminishing resources shortages.

Ways of improving the investment climate in the Republic of Moldova. Case Study: Baltic States

Directory of Open Access Journals (Sweden)

Violeta MIHAILOVA

2016-06-01

Full Text Available Investment has become a strategic priority for Moldova due to the awareness that attracting investments and creating an appropriate business environment for the market economy, represent the basic factors that contribute to an improvement in productive capacity and an increase in competitiveness of an economy. The quality of the investment climate is linked to poverty reduction by the impact of better investment environments on private sector activity, and thus on economic growth and employment. This research paper evaluates the investment environment in details and determines the impact of the factors that influence it, in order to come up with solutions of removing those barriers to investment, therefore, improve the investment climate in the Republic of Moldova.

Financing Investment Projects the Relationship between Feasibility Study and Business Plan

Directory of Open Access Journals (Sweden)

Viorica IOAN

2010-08-01

Full Text Available The common characteristics of the investment efforts, the high complexity and generated impact, have determined significant mutations in the approach to the concept of investment in agriculture, from a simple expense undergone with a direct purpose (the accomplishment of unique objectives, or the reparation of a status quo to complex projects (deviating the flow of rivers, leveled terraces, irrigation works, etc., characterized by specific phases, activities and instruments. Initially defined as anensemble of activities with a specific beginning and end, with a time, resource and budget limit, completed with the purpose of reaching a defined objective, projects have practically become the main operational tool at the level of organizations, in the investment field.

Nuclear Waste Fund cash management procedures

International Nuclear Information System (INIS)

1988-04-01

The Nuclear Waste Policy Act if 1982 (NWPA) provided for the Office of Radioactive Waste Management (OCRWM) to adopt financial and accounting methods comparable to those used by private industry, including borrowing and investing authority. This document describes the procedures OCRWM follows to meet its borrowing and investing authority under the NWPA. These procedures are a supplement to, and are, therefore, not intended to supersede, existing Departmental policies and procedures

Socially Responsible Investment in Japanese Pensions

OpenAIRE

Henry Hongbo Jin; Olivia S. Mitchell; John Piggott

2005-01-01

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

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

International Nuclear Information System (INIS)

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

2012-01-01

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

New cities between sustainability and real estate investment: A case study of New Cairo city

Directory of Open Access Journals (Sweden)

Reham M. Hafez

2017-04-01

This research reviews the basis of development of the new cities. The influence of the real estate investment in some Arab countries, then it handles the case study – “New Cairo city”. Discussing all the investing factors made the city in its current status. Then comes the recommendations in a trial to get an alternative structure to achieve sustainability in light of the current determinants and growth stages.

Co-investments of sovereign wealth funds in private equity

NARCIS (Netherlands)

Mc Cahery, Joseph; de Roode, Alexander

2016-01-01

Direct investments are the preferred vehicle for large institutional investors to have control over their portfolio investments. We study the deal structure of direct investments by sovereign wealth funds (SWFs) in private equity transactions. We find that SWFs shift from investing in private equity

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

Science.gov (United States)

Shinzato, Takashi

2017-02-01

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

Nuclear power and other energy

International Nuclear Information System (INIS)

Doederlein, J.M.

1975-01-01

A comparison is made between nuclear power plants, gas-fuelled thermal power plants and oil-fired thermal power plants with respect to health factors, economy, environment and resource exploitation, with special reference to the choice of power source to supplement Norwegian hydroelectric power. Resource considerations point clearly to nuclear power, but, while nuclear power has an overall economic advantage, the present economic situation makes its heavy capital investment a disadvantage. It is maintained that nuclear power represents a smaller environmental threat than oil or gas power. Finally, statistics are given showing that nuclear power involves smaller fatality risks for the population than many other hazards accepted without question. (JIW)

Recruitment schemes in new nuclear projects

International Nuclear Information System (INIS)

Tielas, M.

2012-01-01

Contracting in New Nuclear Projects: A collaborative model between the Owner and the Supplier is described for building nuclear power plants, and is being implemented in the USA as well as in Europe to solve the problem of the risk in the initial investment as experienced in the past: widely exceeded budgets and construction schedules. (Author)

Foreign Direct Investment in Central and Eastern Europe

DEFF Research Database (Denmark)

Marinov, Marin Alexandrov; Marinova, Svetla Trifonova

facilities there. These processes result in intensive penetration of companies through foreign direct investment into the CEE region. Simultaneously, the foreign investing companies face the specific context of a region that poses new requirements to their investment strategies, approaches and practices....... Covering a diverse range of CEE countries, as well as referring to the characteristics of the region as a whole, this book examines the inflow and outflow of foreign direct investment from both home and host company and country perspectives. By analyzing foreign direct investment in terms of process......, content and context, the book provides a holist approach towards foreign direct investment in the transitional context of CEE. The book includes a comprehensive study of the motives of multi-national companies for investing in Central and Eastern Europe through various investment modes and the degree...

Nuclear energy. Economical aspects

International Nuclear Information System (INIS)

Legee, F.

2010-01-01

This document present 43 slides of a power point presentation containing detailed data on economical and cost data for nuclear energy and nuclear power plants: evolution from 1971 to 2007 of world total primary energy supply, development of nuclear energy in the world, nuclear power plants in the world in 2009, service life of nuclear power plants and its extension; nuclear energy market and perspectives at 2030, the EPR concept (generation III) and its perspectives at 2030 in the world; cost assessment (power generation cost, nuclear power generation cost, costs due to nuclear safety, comparison of investment costs for gas, coal and nuclear power generation, costs for building a nuclear reactor and general cost; cost for the entire fuel cycle, the case of the closed cycle with recycling (MOX); costs for radioactive waste storage; financial costs and other costs such as environmental impacts, strategic stocks, comparative evaluation of the competitiveness of nuclear versus coal and gas

Optimal Investment Control of Macroeconomic Systems

Institute of Scientific and Technical Information of China (English)

ZHAO Ke-jie; LIU Chuan-zhe

2006-01-01

Economic growth is always accompanied by economic fluctuation. The target of macroeconomic control is to keep a basic balance of economic growth, accelerate the optimization of economic structures and to lead a rapid, sustainable and healthy development of national economies, in order to propel society forward. In order to realize the above goal, investment control must be regarded as the most important policy for economic stability. Readjustment and control of investment includes not only control of aggregate investment, but also structural control which depends on economic-technology relationships between various industries of a national economy. On the basis of the theory of a generalized system, an optimal investment control model for government has been developed. In order to provide a scientific basis for government to formulate a macroeconomic control policy, the model investigates the balance of total supply and aggregate demand through an adjustment in investment decisions realizes a sustainable and stable growth of the national economy. The optimal investment decision function proposed by this study has a unique and specific expression, high regulating precision and computable characteristics.

Power generation investment in electricity markets

International Nuclear Information System (INIS)

2003-01-01

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

Energy system, electricity market and economic studies on increasing nuclear power capacity

International Nuclear Information System (INIS)

Forsstrom, J.; Pursiheimo, E.; Kekkonen, V.; Honkatukia, J.

2010-04-01

Objective of this research project is to examine effects of addition of nuclear capacity from three different angles by using energy system, electricity market and economic analysis. In each area the analysis is based on computational methods. Finland is a member of Nordic electricity market which is further connected to networks of Continental Europe and Russia. Due to the foreign connections Finland has been able to import inexpensive electricity from its neighboring countries and this state is expected to continue. Addition of nuclear capacity lowers electricity import demand, affects level of electricity price decreasingly and decreases shortfall of installed production capacity. Substantial additions of nuclear power capacity and generous import supply have disadvantageous effect on profitability of combined heat and power production. The development of import possibilities depends on progression of difficult-to-estimate balance between electricity consumption and production in the neighboring countries. Investments on nuclear power increase national product during the construction phase. Growth of employment is also rather significant, especially during the construction phase. In the long term permanent jobs will be created too. Increase of employment is held back by increasing real wages, but it is though evident that consumer purchasing power is improved due to these nuclear power developments. (orig.)

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

Science.gov (United States)

Amann, I; Heyder, R; Strehl, R

2009-08-01

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

The creation of a development fund for small and intermediate enterprises in the nuclear sector

International Nuclear Information System (INIS)

Anon.

2014-01-01

The French public bank of investment (Bpi france) has announced its new strategy of investment in small and intermediate companies in the nuclear industry in order to help them to develop and to export. Long-term Investments from 1 to 13 million euros will help to reinforce the innovation capability and competitiveness of enterprises, the purpose is to stimulate a global trend towards the emergence of bigger size enterprises. In France, nuclear industry employs 220.000 people dispatched in more than 2500 enterprises. (A.C.)

The Role of Nuclear Power for Sustainable Development: Assessment of Nuclear Power's Contribution to National Economic Development

International Nuclear Information System (INIS)

Min, B. J.; Lee, M. K.; Ahn, S. K.

2008-04-01

The study begins with a short review of nuclear power development in Korea within the overall reference energy system. It then explores changing circumstances, present energy balances and ultimately the needs underpinning future electricity requirements. The major part of the study uses a model-based approach to analyze and quantify economic linkages between nuclear technologies and other economic sectors, and to assess various techno-economic futures that include nuclear generation for the Korean power sector, exploring for each future scenario the optimal electricity supply mix. The results of the analysis represents that the nuclear industry in the Republic of Korea has already made strong contributions to the growth of the country. It has been an integral part of the country's economic development, evolving from an import- to an export-oriented industry, providing spin-offs to Korean technological innovation as well as to socio-economic development such as infrastructure and education. Furthermore, the study provides some meaningful suggestions and recommendations in order to make sound decisions for sustainable energy policy and strategies, in particular for achieving a balance in nuclear power development and socio-economic development consistent with sustainable energy development goals. In general, these reflect the increasing national (public and private) participation in the nuclear industry. Specifically, the study identifies the nuclear relevant strategies in four dimensions: innovative nuclear technology development, nuclear human resource development and management (HRD and M), investment and financing of the nuclear technology and enhancement of institutional framework

Determination of leveled costs of electric generation for gas plants, coal and nuclear; Determinacion de costos nivelados de generacion electrica para plantas de gas, carbon y nucleares

Energy Technology Data Exchange (ETDEWEB)

Alonso V, G.; Palacios H, J.C.; Ramirez S, J.R.; Gomez, A. [ININ, 52045 Ocoyoacac, Estado de Mexico (Mexico)]. e-mail: galonso@nuclear.inin.mx

2005-07-01

The present work analyzes the leveled costs of electric generation for different types of nuclear reactors known as Generation III, these costs are compared with the leveled costs of electric generation of plants with the help of natural gas and coal. In the study several discount rates were used to determine their impact in the initial investment. The obtained results are comparable with similar studies and they show that it has more than enough the base of the leveled cost the nuclear option it is quite competitive in Mexico. Also in this study it is also thinks about the economic viability of a new nuclear power station in Mexico. (Author)

The economics of project analysis: Optimal investment criteria and methods of study

Science.gov (United States)

Scriven, M. C.

1979-01-01

Insight is provided toward the development of an optimal program for investment analysis of project proposals offering commercial potential and its components. This involves a critique of economic investment criteria viewed in relation to requirements of engineering economy analysis. An outline for a systems approach to project analysis is given Application of the Leontief input-output methodology to analysis of projects involving multiple processes and products is investigated. Effective application of elements of neoclassical economic theory to investment analysis of project components is demonstrated. Patterns of both static and dynamic activity levels are incorporated.

Exploring women’s perceptions regarding successful investment planning practices

Directory of Open Access Journals (Sweden)

Elmarie Venter

2017-08-01

Aim: Therefore, the primary objective of this research was to investigate the factors that influence women’s perceived successful investment planning in the Nelson Mandela Bay area. After conducting a comprehensive literature study, six factors (independent variables, namely, values, attitudes, time horizon, personal life cycle, risks and returns, and investment knowledge, were identified as influencing the perceived successful investment planning (dependent variable of women. Setting: As this study focussed on the perceptions of women concerning the factors that influence successful investment planning, the target population was all women in the Nelson Mandela Bay area older than 20 years with some investment experience. Methods: A quantitative research methodology was followed, and data were collected from 207 women using a structured self-administered questionnaire. Results: The results of the multiple regression analysis revealed that only one independent variable emerged as having a significant influence on perceived successful investment planning of women, namely, investment knowledge. Conclusion: Based on the empirical results of this study, several recommendations have been made in an attempt to assist women to make more informed investment decisions and manage their investment planning more effectively as they progress through life.

Investment appraisal using quantitative risk analysis.

Science.gov (United States)

Johansson, Henrik

2002-07-01

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

Summary of the World Energy Investment Outlook 2003

International Nuclear Information System (INIS)

2004-01-01

The current edition of the World Energy Investment Outlook published by the International Energy Agency (IEA) focuses on the foreseeable worldwide investment requirement in the energy sector. The study lists these conclusions, among others: -Total investments of U.S. dollar 16,000 billion worldwide are needed for the energy supply infrastructure over the period 2001 to 2030. They are necessary to add to the power supply capacities and to replace existing power systems and power supply systems. - The financial resources available worldwide are sufficient, basically, to finance the energy investments forecast in the study. The framework conditions necessary for this purpose must be established. - The world energy resources are sufficient to meet the projected demand. Mobilizing the investments depends on the ability of the energy sector to hold its own in the competition for capital with other sectors of the economy. - Energy investments will be dominated by the electricity sector. This sector is likely to absorb nearly U.S. dollar 10,000 billion, or 60% of the total investment. - The developing countries, where energy generation and consumption are going to increase at the fastest rate, will take nearly half of the energy investment worldwide. - A major share of these energy investments is needed to keep up the present level of supply. - The largest share of investments into fossil sources of energy will be spent on extraction costs, exploration included, with different shares applying to the different sources of energy. (orig.) [de

An Analysis of the Factors Impacting Employee's Specific Investment

Institute of Scientific and Technical Information of China (English)

WU Ai-hua; GE Wen-lei

2008-01-01

The amount of specific investment from employees is limited, and the reasons of the under-investment from employees are analyzed in this paper. Based on the relationship of the specific investment and the employee demission, an empirical study has been conducted focusing on the factors influencing the employee turnover and the specific investment. A theoretical model of the factors influencing employee's specific investment is given.

Economical viability of the nuclear option in Mexico

International Nuclear Information System (INIS)

Ortiz, R.; Alonso, G.; Sanchez, J.

2006-01-01

Due to the high volatility of the gas prices and the concern for CO2 emissions, the nuclear option seems to be an option that needs to consider in a electricity expansion portfolio. In this paper a levelized electricity cost analysis is performed to compared different scenarios of electricity generation using combined cycles by using gas and nuclear power stations. The scenarios comprises different discount rates for the investment that goes from 5% to 12%, gas prices from 4.44 USD/mmBTU to 7 USD/mmBTU and overnight cost for Nuclear Power Plants from 1200 USD/kW to 1600 USD/kW. The overall cash flow including investment is analyzed during the whole life of the power plants to test the convenience of the best option in the long run

Investment decisions with benefits of control

DEFF Research Database (Denmark)

Poulsen, Thomas

This paper studies how large shareholders with benefits of control affect firms' equity issue behavior and investment decisions. I introduce an explicit agency cost structure based on the large shareholder's benefits of control. In a simple extension of Myers and Majluf [1984], I show that underi......This paper studies how large shareholders with benefits of control affect firms' equity issue behavior and investment decisions. I introduce an explicit agency cost structure based on the large shareholder's benefits of control. In a simple extension of Myers and Majluf [1984], I show...... that underinvestment is aggravated when there are benefits of being in control, and these benefits are diluted if equity is issued to finance the investment project. I assume that large shareholders are constrained from further investments in their firms, and that they maximize their own wealth, which includes...... as a representation of the large shareholders' expected private benefits. Using a large panel of U.S. data, I find that large shareholders' concern with dilution of ownership and control cause firms to issue less equity and to invest less. I also find that it has no significant effect whether new shares are issued...

Investment Attractiveness of Food Industries in Ukraine

Directory of Open Access Journals (Sweden)

L. О.

2017-02-01

Full Text Available Effective investment is a factor for long-term company development. As enhancement of investment attractiveness is a required condition for economic growth and improvement of living standards, it needs to be on the agenda at government and company level. The article’s objective is to study investment attractiveness of food industries in Ukraine over 2012–2015. Investment attractiveness of food industries can be measured by indicators of liquidity, financial sustainability, and profit rate. Basically, food industries in Ukraine are attractive for investment, which is demonstrated by assessment of the financial indicators. The investment attractiveness worsened slightly in 2015 compared with 2014. The essential problems faced by food industries are shortage of internal funds and negative profit rate of all the activities, assets and own capital. Official statistical data and software package SPSS are used to build the dendrogram, allowing for dividing food industries by level of investment attractiveness into three groups: industries with high, medium and low level of investment attractiveness. It is found that meat industry is the one with the highest level of investment attractiveness. Also, investors should look positively at food-canning industry, oil and animal fat industry, flour-milling industry, starch and starch products industry, and other foods industry.

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

Science.gov (United States)

2011-03-18

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

Investment under Uncertain Climate Policy

DEFF Research Database (Denmark)

Barradale, Merrill Jones

2014-01-01

This paper introduces the concept of payment probability as an important component of carbon risk (the financial risk associated with CO2 emissions under uncertain climate policy). In modeling power plant investment decisions, most existing literature uses the expected carbon price (e.g., the price...... actually be faced in the case of a particular investment. This concept helps explain both the surge of activity in 2005–2006 and the subsequent decline in interest in coal-fired power plant development in the U.S. The data for this case study comes from an extensive online survey of 700 U.S. energy...... design better incentives for investing in low-carbon technologies...

Some aspects of nuclear power development in Russian and studies on its optimal long term structure

International Nuclear Information System (INIS)

Ermakov, N.I.; Poplavsky, V.M.; Troyanov, M.F.; Oussanov, V.I.; Chebeskov, A.N.; Malenkov, A.V.; Gordeev, B.K.

1997-01-01

The paper presents the authors' outlook for nuclear power development in Russia. The analysis is based on the documents published and other materials as well as on the experience of the authors who participated in working out the state fuel-power program Power Strategy of Russia. The crucial point of the Strategy is that moratorium on the nuclear power development in Russia is inadmissible and a part of electricity production in the country will be covered by NPPs with increased safety. The studies which have been carried out by the organizations of MINATOM and ROSENERGOATOM and by some authors have shown that a potential of the Russia nuclear power complex meets the requirements of the nuclear power development up to year 2010. From the standpoint of the authors of the paper the investment climate in the country is the most important and uncertain factor influencing the program realization. But nuclear power preserves competitive ability in any option of new electric capacities introduced in Russia. Application of the market-oriented IAEA's planning tools have confirmed the competitive ability of nuclear power in the central region of Russia. This study is to be continued for other Russian regions. The estimates of the long-term prospects of nuclear power development in Russia made by the authors are based on the assumptions of natural uranium resources conservation, plutonium stockpile minimization and reduction of the radiotoxical waste to the lowest possible level. These requirements may be answered in the plutonium balanced system of thermal and fast reactors with a very economical consumption of natural uranium and a very small quantity of radioactive waste (mainly consisting of fission products and losses in reprocessing operations). (author)

Alternatives of Financing for New Nuclear Reactors in Mexico

International Nuclear Information System (INIS)

Alonso, Gustavo; Palacios, Javier C.; Ramirez, Jose R.; Longoria, Luis C.; Valle, Edmundo del

2011-01-01

Nuclear power deployment requires an extensive capital investment that in many cases prevents the addition of new units for single private companies. The deployment of a single unit of 1000 MWe with the current economical cost requires around 5 billion US dollars assuming no delays or unforeseen problems. In Mexico the electricity is produced by the government utility 'Comision Federal de Electridad' with 47 GWe of installed capacity thereby it can afford this kind of investment. Here we assess two financing scenarios for deployment of a single nuclear reactor unit, in the first one the utility will use their own resources and in the second the nuclear power plant will be built using international and national credits, comparisons of these two scenarios are presented. (author)

The Mediating Effect of Innovation on the Relationship between Information Technology Investments and Firm Performance: An Empirical Study

Science.gov (United States)

Karanja, Erastus

2011-01-01

The last couple of decades has witnessed a plethora of research studies addressing the cause-and-effect relationship between Information Technology (IT) investments and performance at the firm level. These studies elicited mixed results between IT investments and performance which led to various points of view from IT Scholars and Practitioners.…

Canada's nuclear power programme

International Nuclear Information System (INIS)

Peden, W.

1976-01-01

Although Canada has developed the CANDU type reactor, and has an ambitious programme of nuclear power plant construction, there has been virtually no nuclear controversy. This progress was seen as a means to bring Canada out of the 'resource cow' era, and onto a more equal footing with technologically elite nations. However the Indian nuclear explosion test, waste storage problems, contamination problems arising from use of uranium ore processing waste as land fill and subsidised sale of nuclear power plants to Argentina and South Korea have initiated public and parliamentary interest. Some economists have also maintained that Canada is approaching over-supply of nuclear power and over-investment in plant. Canada has no official overall energy production plan and alternative sources have not been evaluated. (JIW)

Comparative study of economic competitive for nuclear seawater desalination

International Nuclear Information System (INIS)

Tian Li; Wang Yongqing

2001-01-01

The method of levelized discounted production water cost and the new desalination economic evaluation program (DEEP1.1) are used. Many cases of seawater desalination by nuclear energy or fossil energy combined with reverse osmosis (RO), Multi-effect distillation (MED) or multi-stage flash (MSF) technology in south-east Asia is performed and their economic competitive is analyzed. Their results indicate, the nuclear desalination plants have stronger economic competitive comparing to the fossil in the RO, MED and MSF technology. The desalination water cost is very changeable depending on the difference of desalination technology and water plant size. Its range is 0.56 dollar · m -3 - 1.89 dollar · m -3 , the lowest desalination water cost is product by RO and the highest is by MSF. The sensitive factors of the economic competitive are orderly the discounted rate, desalination plant size, seawater temperature and total dissolved solids (TDS), fossil fuel price and specific power plant investment. The highest rate of water cost is about 19.3% comparing to base case

Investing in the Energy Sector: An Issue of Governance

International Nuclear Information System (INIS)

Horst Keppler, J.; Schulke, Ch.

2009-01-01

Of all economic sectors, energy is among those where the issue of investments is the most urgent. Because of its technological structure and significant fixed costs, the energy sector is by nature heavily capital intensive. With growing demand and increasingly difficult access to resources, the amounts needed become enormous. The International Energy Agency (IEA) estimates in its World Energy Outlook 2008 that total energy investment needs between now and 2030 will stand at $26 trillion, or close to $1 trillion per year. This is just for energy supply. Half of these investments will be needed in the electricity sector (see below for more details on these estimations). Even after putting these figures into perspective in terms of total worldwide investments over the next 25 years, the amount of money is still significant. All types of energy are involved - oil, gas, coal, nuclear and renewables. In addition, all steps in the supply chain are included - exploration, production, transformation and transportation. The stakes are high. Without the necessary investments, security of supply, global economic growth and environmental integrity are put at risk. The most important challenge for the energy sector in the years to come is thus to pave the way for realising timely and appropriate investments. The current economic recession that is threatening to curb global economic growth will not change this fact. Even if global energy demand slows down in the next two or three years, the world will return to its long term growth path. An energy facility lasts between 20 and 60 years. Thus, the structure of energy production in 2050, when the current economic crisis has been forgotten, will be determined now and over the next years. Even if global energy demand remains stable between now and 2050 (which is highly improbable), the replacement of existing facilities that have reached the end of their life-cycle will still require considerable efforts. (authors)

A Brief Comparative Study on R and D Collaboration Strategy in US and French nuclear utilities

Energy Technology Data Exchange (ETDEWEB)

Yang, Sung Tae; Park, Jong Eun [KHNP CRI, Daejeon (Korea, Republic of)

2014-10-15

So far KHNP's R and D strategy has been evaluated as 2.5th generation R and D management and R and D investments are focused to the key technologies such as Korea's own nuclear reactor design(like APR1400) development, engineering gap lists elimination(plants trouble shooting), construction/operation process enhancement, etc. But when we compare our R and D strategy with US and France utilities, we can find a lot of differences and the need of improvement to accelerate overseas export of nuclear power plants(technologies) and to be a world top class nuclear operator. One of prominent difference is R and D collaboration strategy. The definition of R and D collaboration has evolved over the years, but for this paper I use it to mean the process where multiple parts of an organization or stake holder work together toward a set of common goals. And by co-funding or cost sharing, collaborative R and D can reduces financial and technical risk and encourages knowledge exchange, supply chain development and in return, collaborative R and D can produce more advanced, complex, effective, efficient R and D products in relatively short time with relatively less budget. UK's technology strategy board estimated that Each we invest in collaborative R and D typically returns around in GVA(Gross Value Added)

Economic perspectives of using nuclear power

International Nuclear Information System (INIS)

Hansen, U.

1991-01-01

The economic efficiency of nuclear power is a point which is being raised again and again, despite the existing wide background of earlier, in-depth, studies. The problems lie in the underlying assumptions. For nuclear power plants yet to be built, assumptions must be made about the basic economic development over the next 20 or 30 years, and data are required about the technical options available. Many data are open to interpretation, also as a function of possible future developments, and may well result in contradictory findings when interpreted onesidedly. In nuclear power, most parameters by now can be estimated quite well. Nuclear power has meanwhile established itself in many countries, and has become the most important source of power for electricity generation in the Federal Republic of Germany and elsewhere. The biggest economic obstacle now to be overcome by nuclear power are the high initial capital investments required. This makes it imperative for vendors to reduce plant costs and construction times. (orig.) [de

Long-term cost targets for nuclear energy

International Nuclear Information System (INIS)

Rogner, H.H.; McDonald, A.

2004-01-01

In 2000 the International Atomic Energy Agency (IAEA) began the International Project on Innovative Nuclear Reactors and Fuel Cycles (INPRO) to help guide nuclear R and D strategies targeted on anticipated mid-century energy system needs. One part of INPRO seeks to develop cost targets for new designs to be competitive in mid-century markets. The starting point was the 40 scenarios of the Special Report on Emissions Scenarios (SRES) of the Intergovernmental Panel on Climate Change. This paper summarizes four of the SRES scenarios, one from each of the four SRES scenario families. It discusses their implications for nuclear energy, including cost targets, and develops for each an 'aggressive nuclear' variant. The aggressive nuclear variants estimate the potential market for nuclear energy if, by improving faster than assumed by the SRES authors, nuclear energy can make inroads into vulnerable market shares projected for its competitors. In addition to projected demands for nuclear generated electricity, hydrogen and heat, the aggressive variants include prospective demand for nuclear desalination and use in upgrading fossil fuels. The paper then presents learning rates and implied cost targets consistent with the aggressive nuclear variants of the SRES scenarios. One provocative initial result is that many of the scenarios with substantial nuclear expansion do not seem to require big reductions in nuclear investment costs. One interpretation discussed at the end of the paper highlights the difference between cost reductions consistent with long-term energy system optimization based on perfect foresight, and cost reductions necessary to attract private investment in today's 'deregulating' and uncertain energy markets. (orig.)

The Prospective of Nuclear Power in China

Directory of Open Access Journals (Sweden)

Yan Xu

2018-06-01

Full Text Available From scratch to current stage, China’s nuclear power technology has experienced rapid development, and now China has begun to export nuclear power technology. As a kind of highly efficient and clean energy source, nuclear energy is also a priority option to solve energy crisis, replace traditional fossil fuels and reduce air pollution. By analyzing the short-term and long-term development trend of nuclear power in China, the paper has reached the following conclusions: (1 Under the current situation of excess supply, due to high investment cost of first-kind reactors, the decline of utilization hours and the additional cost of ancillary service obligations, the levelized cost of energy (LCOE of the third generation nuclear power will significantly increase, and the internal rate of return (IRR will significantly fall. In the short term, market competitiveness of nuclear power will be a major problem, which affects investment enthusiasm. (2 With technology learning of third generation technology, the LCOE of nuclear power will be competitive with that of coal power in 2030. (3 The CO2 emissions reduction potential of nuclear power is greater than coal power with CCS and the avoided CO2 costs of nuclear power is much lower. Therefore, nuclear power is an important option for China’s long-term low-carbon energy system transition. The paper proposes to subsidize the technical learning costs of new technology through clean technology fund at the early commercialization stage. When designing power market rules, the technical characteristics of nuclear power should be fully considered to ensure efficient operation of nuclear power.

The next $120,000: a case study to illustrate analysis of alternative farm investments in fixed assets.

Science.gov (United States)

St-Pierre, N R; Shoemaker, D; Jones, L R

2000-05-01

Dairy scientists specializing in the area of farm management are increasingly involved in analysis of farm investments in fixed assets. There have been instances where the wrong procedures were used to assess investments in fixed assets, leading to erroneous and possibly disastrous conclusions. A detailed case study of a dairy farm facing the decision of where best to invest an unexpected $120,000 windfall is used to illustrate the various facets of financial analysis. Indicators of profitability, liquidity, solvency, repayment capacity, and financial efficiency are explained and applied to the farm case to produce a detailed analysis of the current financial position of the firm. Long-range budgets of four alternate investment options and their impact on all financial indicators are presented. The four options are: 1) to pay down debt, 2) to purchase an additional 100 cows, 3) to install automatic milk yield recording in the parlor, and 4) to build new heifer facilities. All four investments are profitable. Therefore, an analysis limited to profitability indicators would conclude that any of the four options is a good investment. However, liquidity and financial efficiency issues showed that the option of purchasing 100 cows is far superior to the three others. We conclude that a complete and thorough financial analysis is required to evaluate the impact of long-run investments in fixed assets.

POWERCO, Nuclear Power Plant Electricity Cost and Economics

International Nuclear Information System (INIS)

Tyson, Frank D.

1982-01-01

1 - Description of problem or function: POWERCO calculates the cost of electricity produced by nuclear power stations, assuming all cash expenses such as investment and fuel costs, operating expenses, and taxes are known. The power cost is held constant throughout the project life. 2 - Method of solution: The cost calculation is based on the requirement that income received must provide for recovery of investment, return on investment, and all operating expenses. Equations are developed to calculate true fixed charge rates and true average fuel working capital

Finance structure and public enlightenment program of the first Turkish nuclear power plant project (a case study)

International Nuclear Information System (INIS)

Lutfi Sarici, E.

2000-01-01

This paper deals with four closely related subjects. These are: the positioning of nuclear energy in Turkey's energy planning by presenting supply and demand figures of electricity, giving emphasis to resource availability, pointing out the necessity of diversification of resources; the ongoing situation for realization of the Akkuyu Project with its updated milestones, alternative offers requested for the Akkuyu Nuclear Power Plant and member companies of the consortiums who already have submitted the three bids; the financing of big-scale energy investment projects in developing countries by giving special emphasis to the Akkuyu Nuclear Power Plant Project including the financing requirements in the Bid Specifications, OECD rules for financing, the requirements of financial agents, and financing means of domestic participation; public enlightenment during establishment of nuclear power in Turkey. (author)

Multinational Taxation and R&D Investments

NARCIS (Netherlands)

de Waegenaere, A.; Sansing, R.C.; Wielhouwer, J.L.

2012-01-01

This study examines the effects of taxation on the incentives of multinational firms to develop and use intellectual property. We model optimal investment and production decisions by firms that engage in a patent race by making R&D investments. We investigate how taxes affect the level and

Multinational taxation and R&D investments

NARCIS (Netherlands)

De Waegenaere, A.M.B.; Sansing, R.; Wielhouwer, J.L.

2012-01-01

This study examines the effects of taxation on the incentives of multinational firms to develop and use intellectual property. We model optimal investment and production decisions by firms that engage in a patent race by making R&D investments. We investigate how taxes affect the level and

The Chinese nuclear program

International Nuclear Information System (INIS)

Prenez, J.C.; Bettoun, G.

2009-01-01

This series of slides presents the organization of the Chinese nuclear industry and its perspectives for the 2 next decades. The presentation is divided into 5 parts. Part one: the energy sector in China. Due to the economic development of the country this sector is flourishing and reaches an average growth rate of 9% per year. More than fifty per cent of the power plants being built in the world, are located in China. The electricity production stems by far from fossil energies (>80%) but this part is expected to decrease to reach 70% in 2020. Part 2: the Chinese nuclear program. This program is dual: the massive deployment of chinese improved reactors of second generation (the construction of 6 CPR1000 reactors will be launched each year) and the import and assimilation of reactors of the third generation: 4 AP1000 and 2 EPR are being built. Part 3: the organization of the Chinese nuclear sector. The main actors are CNNC (China National Nuclear Corporation), CGNPC (China Guangdong Nuclear Power Corporation), CPI (China Power Investment Corporation), SNPTC (State Nuclear Power Technology Corporation). The main 5 Chinese suppliers are also presented. Part 4: The role of EDF. Today's EDF role is multiple: to be active in the Chinese nuclear program, to go beyond technical assistance to reach partnership, to invest in Chinese power plants, to promote cooperation between French and Chinese actors of the nuclear industry. A lot of joint ventures have been created. Part 5: the Taishan project. Taishan is a coastal site near Macao in the Guangdong province in which 2 EPR are being built, the first concrete was cast in october 2009, 52 months of construction are scheduled and the first unit will be commissioned in end 2013 while the second commissioning is planned for end 2014. (A.C.)

Work environment investments: outcomes from three cases.

Science.gov (United States)

Rydell, Alexis; Andersson, Ing-Marie

2017-09-27

Work environment investments are important in order to create a healthy and safe workplace. This article presents findings from a seven-step interventions process aimed at examining and following-up work environment investments in small and medium-sized enterprises (SMEs), with a particular focus on air contaminants. Three different cases were analyzed and included in the study: (a) an educational center for welding; (b) a paint station in furniture manufacturing; (c) a joinery in furniture manufacturing. The results show that the work environment investments were highly appreciated by the employees and managers, but at the same time the investment could be optimized through markedly decreased exposure levels for the worker. Factors such as follow-ups of the investment, education and training in how to use the equipment, worker involvement in the process and leadership engagement are important in order to optimize work environment investments.

Federal Investment

Science.gov (United States)

Campbell, Sheila; Tawil, Natalie

2013-01-01

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

Do marginal investments made by NHS healthcare commissioners in the UK produce the outcomes they hope to achieve? Observational study.

Science.gov (United States)

O'Cathain, Alicia; Sampson, Fiona; Strong, Mark; Pickin, Mark; Goyder, Elizabeth; Dixon, Simon

2015-11-06

To investigate the effect of targeted marginal annual investments by local healthcare commissioners on the outcomes they expected to achieve with these investments. Controlled before and after study. 152 commissioning organisations (primary care trusts) in England. National surveys of commissioning managers in 2009 and 2010 to identify: the largest marginal investments made in four key conditions/services (diabetes, coronary heart disease, chronic pulmonary airways disease and emergency and urgent care) in 2008/2009 and 2009/2010; the outcomes commissioners expected to achieve with these investments; and the processes commissioners used to develop these investments. Collation of routinely available data on outcomes commissioners expected from these investments over the period 2007/2008 to 2010/2011. 51% (77/152) of commissioners agreed to participate in the survey in 2009 and 60% (91/152) in 2010. Around half reported targeted marginal investments in each condition/service each year. Routine data on many of the outcomes they expected to achieve through these investments were not available. Also, commissioners expected some outcomes to be achieved beyond the time scale of our study. Therefore, only a limited number of outcomes of investments were tested. Outcomes included directly standardised emergency admission rates for the four conditions/services, and the percentage of patients with diabetes with glycated haemoglobin investments reduced emergency admission rates. There was evidence of an improvement in blood glucose management for diabetes for commissioners investing to improve diabetes care but this was compromised by a change in how the outcome was measured in different years. This investment was unlikely to be cost-effective. Commissioners made marginal investments in specific health conditions and services with the aim of improving a wide range of outcomes. There was little evidence of impact on the limited number of outcomes measured. Published by the BMJ

Tackling investment challenges in power generation - in IEA countries

Energy Technology Data Exchange (ETDEWEB)

NONE

2007-07-01

In most IEA countries a new investment cycle in power generation is looming. A window of opportunity now exists to push for a cleaner and more efficient generation portfolio that could transform the power sector and help to build a more sustainable infrastructure lasting over the next 40-50 years. What are the recent trends and prospects for investment in power generation? What are the main drivers and barriers? This book assesses these issues and gives special emphasis to the question of how uncertainties may affect investment decisions. Uncertainties on CO{sub 2} constraints, on power plant licensing, on acceptability of nuclear power, on local opposition to any new energy infrastructure, on government support for specific generation technologies and on government policies on energy efficiency are particularly disturbing. Market liberalisation can also be a key uncertainty, but this may be greatly reduced and deliver considerable benefits if liberalisation is implemented whole-heartedly and backed by on-going government commitment. Government action is urgently needed: to reduce regulatory uncertainty for investors, to establish effective competitive markets and to give firm policy directions in those areas where markets fall short, such as in taking environmental costs and security of supply into account.

Public perspectives on nuclear security. US national security surveys, 1993--1997

Energy Technology Data Exchange (ETDEWEB)

Herron, K.G.; Jenkins-Smith, H.C. [Univ. of New Mexico, Albuquerque, NM (United States). UNM Inst. for Public Policy

1998-08-01

This is the third report in a series of studies to examine how US attitudes about nuclear security are evolving in the post-Cold War era and to identify trends in public perceptions and preferences relevant to the evolution of US nuclear security policy. It presents findings from three surveys: a nationwide telephone survey of randomly selected members of the US general public; a written survey of randomly selected members of American Men and Women of Science; and a written survey of randomly selected state legislators from all fifty US states. Key areas of investigation included nuclear security, cooperation between US and Russian scientists about nuclear issues, vulnerabilities of critical US infrastructures and responsibilities for their protection, and broad areas of US national science policy. While international and US national security were seen to be slowly improving, the primary nuclear threat to the US was perceived to have shifted from Russia to China. Support was found for nuclear arms control measures, including mutual reductions in stockpiles. However, respondents were pessimistic about eliminating nuclear armaments, and nuclear deterrence continued to be highly values. Participants favored decreasing funding f/or developing and testing new nuclear weapons, but supported increased investments in nuclear weapons infrastructure. Strong concerns were expressed about nuclear proliferation and the potential for nuclear terrorism. Support was evident for US scientific cooperation with Russia to strengthen security of Russian nuclear assets. Elite and general public perceptions of external and domestic nuclear weapons risks and external and domestic nuclear weapons benefits were statistically significantly related to nuclear weapons policy options and investment preferences. Demographic variables and individual belief systems were systematically related both to risk and benefit perceptions and to policy and spending preferences.

FinTech in Taiwan: a case study of a Bank's strategic planning for an investment in a FinTech company

OpenAIRE

Hung, Jui-long; Luo, Binjie

2016-01-01

Introduction: Since 2015 is the year of FinTech in Taiwan, it is worth investigating the challenges that emerged when banks were encouraged to invest in FinTech companies for collaboration. This study aims to identify the strategic considerations in the process of searching for FinTech investment targets. Case description: This study used a case study investigation of a top-5 bank in Taiwan. The major data sources include the meeting notes of the FinTech investment task force and interviews w...

A study on the nuclear foreign policy

International Nuclear Information System (INIS)

Lee, Byungwook; Lee, H. M.; Ko, H. S.; Ryu, J. S.; Noh, B. C.

2008-12-01

This study addresses four arenas to effectively assist national nuclear foreign policies under international nuclear nonproliferation regimes and organizations. Firstly, this study analyzes the trends of the international nuclear non-proliferation regime, which includes the Treaty on the Non-proliferation of Nuclear Weapons (NPT), the international nuclear export control regime, and proposals for assurance of nuclear fuel supply. Secondly, this study analyzes the trends of international nuclear organizations, which include the IAEA as a central body of international nuclear diplomacy and technical cooperation and the OECD/NEA as a intergovernmental organization to consist of nuclear advanced countries. Thirdly, this study predicts the nuclear foreign policy of Obama Administration and reviews U. S.-India nuclear cooperation. Lastly, this study analyzes the nuclear issues of North Korea and current issues for regulation of nuclear materials.

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

Energy Technology Data Exchange (ETDEWEB)

Bruin, Karianne de

2012-11-01

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

Nuclear power in Europe

International Nuclear Information System (INIS)

Anon.

1984-01-01

The increase in electronuclear production is the result of an investment policy which was started twenty years ago and actively pursued, notably by France where the programme was speeded up during the last decade. Over the whole of Europe taken in the widest sense, that is to say over the 10 million sq kms which stretch from the Atlantic to the Eastern borders of the Soviet Union with its population of nearly 664 million inhabitants (a sixth of the world population), the number of reactors continues to grow. In Eastern Europe a major investment programme is in progress and the Soviets have already reached the 1,500 MWe level. In the West, after a period of uncertainty marked by a systematic opposition to nuclear, public opinion is now much more favourable to this form of energy. The next referendum due to be held in Switzerland is likely to confirm this trend. There is still some uncertainty over the size of programmes as in Spain and Italy but it is true that the economic crisis had lead to a cut-back in energy demand. Consumption increases however turn up increasingly often. The following study examines 17 European countries which have already built nuclear power plants or are just about to do so [fr

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

Science.gov (United States)

2012-06-12

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

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

OpenAIRE

Khoiri, A. Miftakhul

2016-01-01

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

75 FR 44996 - Study Regarding Obligations of Brokers, Dealers, and Investment Advisers

Science.gov (United States)

2010-07-30

... the varying scope and terms of retail customer relationships of brokers, dealers, investment advisers..., or overlaps in legal or regulatory standards in the protection of retail customers relating to the... INFORMATION CONTACT: Holly Hunter-Ceci, Division of Investment Management, at (202) 551-6825 or Emily Russell...

LDC nuclear power: Philippines

International Nuclear Information System (INIS)

Scherr, S.J.

1982-01-01

The US created the need for nuclear power in the Phillipines and then provided the means to fill it, but the 20-year nuclear program was reversed in 1976 because of public opposition to heavy-handed government policies. The situation illustrates the overriding importance of foreign influence and political judgment. Despite substantial investments in the training of Filipino nuclear scientists and technicians, nuclear energy continues to be viewed as an alien technology by the people. Even the protracted debate over the first reactor has been dominated by US experts and advisers because the traditional transnational cooperation was extended beyond government to nongovernmental citizen organizations when Filipno protestors sought help from US groups. 120 references

Slovak Electric, plc, Bohunice Nuclear Power Plant

International Nuclear Information System (INIS)

1999-01-01

A brief account of activities carried out by the Bohunice Nuclear Power Plant in 1998 is presented. These activities are reported under the headings: (1) Operation and electric power generation; (2) Nuclear and radiation safety; (3) Maintenance and scheduled refuelling out-gages; (4) Investment and WWER units upgrading; (5) Power Plants Personnel; (6) Public relations

THEORETICAL QUESTIONS OF INVESTMENT RISK RESEARCH, ITS MAIN FEATURES AND CLASSIFICATION

Directory of Open Access Journals (Sweden)

I. A. Kadyrbaev

2016-01-01

Full Text Available The article examines framework methodology of investment risk. The subject of the study are the basic theoretical positions directly related to the economic category of "investment risk". The purpose of this writing is the improvement of the methodology of the study of investment risk in the investment activity. This objective is to define the tasks, which consist in the formulation of the concept of "investment risk", the development of investment risk classification to provide investors with effective protection against such risks. The implementation  of the tasks will create conditions for the growth of investments in Russia. Currently, effective investment strategy for such an increase, is among the priority directions of development of the Russian economy.The article deals with logically interrelated study of basic economic categories, influencing directly on the investment risk. Author provided classification of investments in accordance with the level of risk. Examine the matter of the financial-economic category of the concept of "investment risk" and the classification of investment risks. Specified main features of the investment risk, which allowed to reveal specifics, which consists in the redistribution of capital in various types of assets in order to maximize profits or to obtain significant social effect.

Understanding Information Technology Investment Decision-Making in the Context of Hotel Global Distribution Systems: a Multiple-Case Study

OpenAIRE

Connolly, Daniel J.

1999-01-01

UNDERSTANDING INFORMATION TECHNOLOGY INVESTMENT DECISION-MAKING IN THE CONTEXT OF HOTEL GLOBAL DISTRIBUTION SYSTEMS: A MULTIPLE-CASE STUDY by Daniel J. Connolly Dr. Michael D. Olsen, Chair Department of Hospitality and Tourism Management ABSTRACT This study investigates what three large, multinational hospitality companies do in practice when evaluating and making IT investment decisions. This study was launched in an attempt to 1) learn more about ...

Transnational Investments in Informational Capital

DEFF Research Database (Denmark)

D. Munk, Martin

This paper analyses the acquisition of informational capital, e.g. academic capital, measured as student mobility, and understood as transnational investments in prestigious foreign educational institutions. In the 1990s, educational “zones of prestige” have especially been the United States......) are more likely than students from other social classes to pursue transnational investments, even though students from the middle and working classes have now entered the competition. This result is also recently found in an analysis of Danish academic emigrants. All in all, the studies confirm...... the hypothesis that students from upper classes are more likely than others to invest in specific informational capital in the field of education, in national environments but also in international settings....

Optimal Priority Structure, Capital Structure, and Investment

OpenAIRE

Dirk Hackbarth; David C. Mauer

2012-01-01

We study the interaction between financing and investment decisions in a dynamic model, where the firm has multiple debt issues and equityholders choose the timing of investment. Jointly optimal capital and priority structures can virtually eliminate investment distortions because debt priority serves as a dynamically optimal contract. Examining the relative efficiency of priority rules observed in practice, we develop several predictions about how firms adjust their priority structure in res...

Nuclear consultant - a new profession

International Nuclear Information System (INIS)

Hardung von Hardung, H.

1976-01-01

The nuclear field is an area fraugh with particular difficulties for industries, banks, public authorities etc. in acquiring the precise knowledge needed for decision making. This gap can be filled by the activities of nuclear consultants; in view of the size of the market which, in Europe, probably involves a capital investment by far exceeding DM 100 billion, chances are promising. These consultant activities include technological problems as well as economics, organization, strategy, and training in nuclear technology. Of course, the consultant staff must have broad and specialized knowledge. (orig.) [de

Nuclear consultant: a new profession

Energy Technology Data Exchange (ETDEWEB)

Hardung von Hardung, H

1976-02-01

The nuclear field is an area fraught with particular difficulties for industries, banks, and public authorities etc. in acquiring the precise knowledge needed for decision making. This gap can be filled by the activities of nuclear consultants; in view of the size of the market which, in Europe, probably involves a capital investment by far exceeding DM 100 billion, chances are promising. These consultant activities include technological problems as well as economics, organization, strategy, and training in nuclear technology. Of course, the consultant staff must have broad and specialized knowledge.

Research on the Investment Costs of IT Project

Science.gov (United States)

Zurong, Chen; Feng, Jingchun

2018-02-01

The investment costs of IT project are the basis of IT project management. The meaning and composition of the investment costs of IT project were analyzed in this paper, which involving the engineering cost of IT project, the other costs of IT project, reserve cost and financing interest of the construction period. On this basis, the composition and content of static investment costs and dynamic investment costs of IT project were also studied in the paper.

Investment in capital markets

OpenAIRE

Ledenyov, Dimitri O.; Ledenyov, Viktor O.

2017-01-01

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

Pension Fund Investment Policy

OpenAIRE

Zvi Bodie

1988-01-01

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

Comparative Analysis of Direct and Indirect Property Investment ...

African Journals Online (AJOL)

Sultan

substitute for direct property investment in Abuja, Nigeria. The study .... of stock market investment using Lagos,. Ibadan and ... ordinary shares and saving account for the. Adeogun ... Hence, the need for this study which provides information.

An Information-Based Trade Off between Foreign Direct Investment and Foreign Portfolio Investment

OpenAIRE

Itay Goldstein; Assaf Razin

2005-01-01

The paper develops a model of foreign direct investments (FDI) and foreign portfolio investments (FPI).The model describes an information-based trade off between direct investments and portfolio investments. Direct investors are more informed about the fundamentals of their projects. This information enables them to manage their projects more efficiently. However, it also creates an asymmetric-information problem in case they need to sell their projects prematurely, and reduces the price they...

Guidelines for integrating socially responsible investment in the investment process

NARCIS (Netherlands)

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

2009-01-01

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

Resemblance and investment in children.

Science.gov (United States)

Dolinska, Barbara

2013-01-01

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

A Study on the Nuclear Foreign Policy

International Nuclear Information System (INIS)

Lee, Byung Wook; Lee, H. M.; Ko, H. S.; Ryu, J. S.; Oh, K. B.; Yang, M. H.; Lee, K. S.

2007-12-01

This study approaches the international trends related to nuclear non-proliferation in four aspects. First, this study analyzes the trend of the international nuclear non-proliferation regime, which includes the Treaty on the Non-proliferation of Nuclear Weapons (NPT), the international nuclear export control regime and proposals for assurance of nuclear fuel supply. Second, this study analyzes the trend of international nuclear organizations, which includes the International Atomic Energy Agency (IAEA), a central body of development of nuclear technology and international nuclear diplomacy, and the Organization for Economic Co-operation and Development/Nuclear Energy Agency (OECD/NEA), a intergovernmental organization to consist of a group of nuclear advanced countries. Third, this study analyzes the trends of the U.S.'s nuclear foreign policies, particularly nuclear non-proliferation. Fourth, this study analyzes the nuclear issues of North Korea and Iran as they cause serious concerns to a international society

A Study on the Nuclear Foreign Policy

Energy Technology Data Exchange (ETDEWEB)

Lee, Byung Wook; Lee, H. M.; Ko, H. S.; Ryu, J. S.; Oh, K. B.; Yang, M. H.; Lee, K. S

2007-12-15

This study approaches the international trends related to nuclear non-proliferation in four aspects. First, this study analyzes the trend of the international nuclear non-proliferation regime, which includes the Treaty on the Non-proliferation of Nuclear Weapons (NPT), the international nuclear export control regime and proposals for assurance of nuclear fuel supply. Second, this study analyzes the trend of international nuclear organizations, which includes the International Atomic Energy Agency (IAEA), a central body of development of nuclear technology and international nuclear diplomacy, and the Organization for Economic Co-operation and Development/Nuclear Energy Agency (OECD/NEA), a intergovernmental organization to consist of a group of nuclear advanced countries. Third, this study analyzes the trends of the U.S.'s nuclear foreign policies, particularly nuclear non-proliferation. Fourth, this study analyzes the nuclear issues of North Korea and Iran as they cause serious concerns to a international society.

Current issues in nuclear power projects decision making

International Nuclear Information System (INIS)

Yanev, Y.; Rogner, H.

2011-01-01

Concluding Comments: Firm government commitment and support - imminent; New financing approaches/models are emerging, repackaging existing methods and combination of project finance/co-operative mode; Global financial crisis will make financing for investors very challenging, especially for large scale infrastructure projects like NNP –financial regulators to impose tougher rules (Basel III, UK bank levy, US Financial Regulatory Bill, etc; Pure project finance is still challenging for nuclear projects - the availability of finance for new NPPs will depend on the initial government support. This presentation presents a “free market” view on investment in nuclear power projects; If the public sector (governments) wishes to invest in nuclear power as part of its socioeconomic development priorities, finance is not a real obstacle; It becomes an issue in the presence of other equally important development needs and private sector participation is sought

Intellectual Capital: Perceptions of Productivity and Investment

Directory of Open Access Journals (Sweden)

Aristides Isidoro Ferreira

2011-03-01

Full Text Available This study focuses on the influence intellectual capital has on employees’ perceptions as related to both company investments and productivity levels. The data was obtained from 440 employees at 13 Portuguese companies. Both ANOVA and Regression Analysis were conducted in order to understand the impact three Intellectual Capital Scale components have on perceptions of investment and organizational productivity. Results show that companies with higher scores of Structural Capital have a lower perception of investment in human resources and research, as well as a higher perception of investment in marketing and sales. Moreover, employees of companies with higher Structural Capital scores also have higher perceptions of productivity. On the other hand, organizations with higher investment in Customer Capital tend to be associated with a lower perception of organizational productivity.

Main influence factors on the final energy generation cost of a nuclear power plant in comparison with other energy sources

International Nuclear Information System (INIS)

Souza, J.A.M. de; Glardon, C.; Schmidt, R.M.

1981-01-01

The main factors in the construction and in the operation of nuclear power plants that affect the final energy generation cost are presented. The structure of the energy generation cost, of the nuclear fuel cost and the total investment are studied. (E.G.) [pt

The economic viability of nuclear power in a fossil-fuel-rich country: Australia

Energy Technology Data Exchange (ETDEWEB)

Owen, Anthony

2010-09-15

This paper assesses the economic viability of investment in nuclear power generation in Australia and factors which may influence government policy towards such investments. It argues that the structure of the grid in Eastern Australia and the nature of the existing generator mix require nuclear technology that has similar attributes to combined cycle gas technology; i.e. modular construction of generating units, load following capability, low unit capital cost, and a general acceptance by the Australian public. The paper concludes that it is only Generation IV nuclear technology that has the potential to be part of Australia's energy mix after 2030.

Stock prices and business investment

OpenAIRE

Yaron Leitner

2007-01-01

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

Theoretical studies in nuclear reactions and nuclear structure

International Nuclear Information System (INIS)

1992-05-01

Research in the Maryland Nuclear Theory Group focusses on problems in four basic areas of current relevance. Hadrons in nuclear matter; the structure of hadrons; relativistic nuclear physics and heavy ion dynamics and related processes. The section on hadrons in nuclear matter groups together research items which are aimed at exploring ways in which the properties of nucleons and the mesons which play a role in the nuclear force are modified in the nuclear medium. A very interesting result has been the finding that QCD sum rules supply a new insight into the decrease of the nucleon's mass in the nuclear medium. The quark condensate, which characterizes spontaneous chiral symmetry breaking of the late QCD vacuum, decreases in nuclear matter and this is responsible for the decrease of the nucleon's mass. The section on the structure of hadrons contains progress reports on our research aimed at understanding the structure of the nucleon. Widely different approaches are being studied, e.g., lattice gauge calculations, QCD sum rules, quark-meson models with confinement and other hedgehog models. A major goal of this type of research is to develop appropriate links between nuclear physics and QCD. The section on relativistic nuclear physics represents our continuing interest in developing an appropriate relativistic framework for nuclear dynamics. A Lorentz-invariant description of the nuclear force suggests a similar decrease of the nucleon's mass in the nuclear medium as has been found from QCD sum rules. Work in progress extends previous successes in elastic scattering to inelastic scattering of protons by nuclei. The section on heavy ion dynamics and related processes reports on research into the e + e - problem and heavy ion dynamics

Costs and results of federal incentives for commercial nuclear energy

International Nuclear Information System (INIS)

Bezdek, R.H.; Wendling, R.M.

1991-01-01

This paper (1) estimates the total costs of federal expenditures in support of incentives for the development of commercial nuclear energy through 1988, and (2) analyzes the results and benefits to the nation of this federal investment. The federal incentives analyzed include research and development, regulation of commercial nuclear energy, tax incentives, waste management and disposal, enrichment plants, liability insurance, the uranium mining industry, and all other federal support activities. The authors estimate that net federal incentives totaled about $45-50 billion (1988 dollars). They estimate the results of the federal incentives, focusing on six categories, namely, electric energy produced, the total (direct plus indirect) economic benefits of the industry created, R and D program benefits, value of energy imports displaced, environmental effects, and health, safety, and risk effects. The results total $1.9 trillion, with approximately $250-300 billion identified as net benefits. The authors conclude that the high return on the investment justified federal incentives for nuclear energy development over the past four decades and that the federal government and the nation have received a significant return on the incentives investment

Are stricter investment rules contagious? Host country competition for foreign direct investment through international agreements

OpenAIRE

Neumayer, Eric; Nunnenkamp, Peter; Roy, Martin

2014-01-01

We argue that the trend toward international investment agreements (IIAs) with stricter investment rules is driven by competitive diffusion, namely defensive moves of developing countries concerned about foreign direct investment (FDI) diversion in favor of competing host countries. Accounting for spatial dependence in the formation of bilateral investment treaties (BITs) and preferential trade agreements (PTAs) that contain investment provisions, we find that the increase in agreements with ...

13 CFR 301.4 - Investment rates.

Science.gov (United States)

2010-01-01

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

Environmental investment funds. Investing into the future. Umweltfonds. Investieren in die Zukunft

Energy Technology Data Exchange (ETDEWEB)

Homolka, W [Bayerische Hypotheken- und Wechsel-Bank AG, Muenchen (Germany)

1990-01-01

The book wants to show that ecologically oriented and socially responsible investment has so far been underrated as a criterion of choice for finance decisions. Environmental investment funds offer the chance to make important investments into the future and the development of new technologies and methods of production, provided the openness of their claim is appreciated which is to go for anything that will improve our environment. Such confidence in the positive forces of the market is adequately rewarded, as international examples show. Environmental investment funds are a form of finance management for far-sighted investors and who are committed to the environment. The author presents the bases of ethic-ecologically oriented fund investment, reports experience abroad, and gives a current overview of the situation, nationally and internationally, in this sector of the finance market. (orig./HSCH).

Modern aspects of tax regulation of investment activity

Directory of Open Access Journals (Sweden)

E.S. Podakov

2016-03-01

Full Text Available The article investigates the tax regulation of investment activity in modern conditions. Scientists studied different views about the impact of tax regulations on the investment activity in the country. The author determines that the tax regulation of investment activity involves the use of state mechanisms taxation of certain measures to improve investment conditions. The subject is the state tax regulations, and the object is the investment activity of individual and institutional investors of any form of ownership including organizational and legal forms. Such regulation is performed by using complex special tools. The possible methods of tax stimulation of investment processes are described. The article deals with the current results of tax reform in Ukraine and predicts its possible consequences for agricultural producers. The rating positions of Ukraine according to international organizations are showed. The systematic analysis has been carried out and the impact of differential tax rates, tax exemption for a specified period, reducing the tax base, elimination of double taxation on investment activity in certain areas have been researched. The special instruments of investment activity tax regulation are considered. The options for improving investment activity by introducing effective tax regulation are determined.

Investment Risks and Insurance in the Gold Market

Directory of Open Access Journals (Sweden)

Nikolay Megits

2014-03-01

Full Text Available Normal 0 false false false EN-US X-NONE X-NONE In this article we investigated the causes and features of investment risks in the gold market, studied the components of investment risks in this market, and analyzed the main methods of insuring those investment risks. In addition, we presented the methods and financial investment instruments used in gold operations and provided the conceptual analyses of investment risk in the gold market. Normal 0 false false false EN-US X-NONE X-NONE Normal 0 false false false EN-US X-NONE X-NONE Momentum Investment Strategy : (An Empirical Study of the Canadian Stock Market and the Swedish Stock Market)

OpenAIRE

Ludvigsson, Anita

2008-01-01

Abstract Market efficiency is a highly debated topic within the academic research field of finance. Several studies have presented that the return on stocks may be predictable by employing the momentum investment strategy, which contradicts the Efficient Market Hypothesis in exchange market. There is extensive international evidence, on an academic level that the momentum investment strategy yields positive abnormal returns when short-term periods are considered. This paper examines the profi...

Chemical plant innovative safety investments decision-support methodology.

Science.gov (United States)

Reniers, G L L; Audenaert, A

2009-01-01

This article examines the extent to which investing in safety during the creation of a new chemical installation proves profitable. The authors propose a management supporting cost-benefit model that identifies and evaluates investments in safety within a chemical company. This innovative model differentiates between serious accidents and less serious accidents, thus providing an authentic image of prevention-related costs and benefits. In classic cost-benefit analyses, which do not make such differentiations, only a rudimentary image of potential profitability resulting from investments in safety is obtained. The resulting management conclusions that can be drawn from such classical analyses are of a very limited nature. The proposed model, however, is applied to a real case study and the proposed investments in safety at an appointed chemical installation are weighed against the estimated hypothetical benefits resulting from the preventive measures to be installed at the installation. In the case-study carried out in question, it would appear that the proposed prevention investments are justified. Such an economic exercise may be very important to chemical corporations trying to (further) improve their safety investments.

Finans/Invest

DEFF Research Database (Denmark)

Bechmann, Ken L.

2014-01-01

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

Paul Scherrer Institut annual report 1994. Annex IV: PSI nuclear energy and safety research progress report 1994

International Nuclear Information System (INIS)

Williams, T.; Kallfelz, J.M.; Mathews, D.

1995-01-01

Nuclear energy research in Switzerland is concentrated at PSI. It is explicitly mentioned in the Institute's official charter and commands about one fifth of the Institute's federal resources. Presently, PSI invests approx. 200 py/a in nuclear energy research, one third of this being externally funded; the share of external funding in investment costs totals approx. 50%. This funding is provided by the Swiss utilities and the NAGRA, the Safety Authority (HSK) and the former National Fund for Energy Research (NEFF). PSI's activities in nuclear research concentrate on three main areas: safety of operating plants, safety features of future reactor concepts and waste management. 7% of personnel are invested in addressing global aspects of energy. (author) figs., tabs., refs

Economical aspects of a nuclear power plant project

International Nuclear Information System (INIS)

Meldonian, N.L.; Santos, E.M. dos

1992-01-01

This work describes different aspects and parameters that should be regarded as guidelines for economic evaluation of small and medium power plant projects. The main objective of an economic evaluation is to establish the plant's unitary cost and its economic figure of merit. To achieve that, a number of studies must be undertaken to compare the global competitiveness of a nuclear power plant with other energetic alternatives. These studies involve macro economy, energy generation, electricity transmission and global feasibility of the enterprise. It is concluded that the economic evaluation of a nuclear power plant should be considered as the culmination of a long process of planning at a national level. The main reasons are the investments involved, the technological developments required and political implications of the utilization of nuclear power energy. (author)

Is there a future for nuclear power in developing countries?

International Nuclear Information System (INIS)

Srinivasan, M.R.

1997-01-01

While the future for nuclear power remains uncertain in many developing countries, India, along with China and South Korea, will require nuclear power to grow significantly in the coming decades. India will find its dependence on imported fuels increasing substantially. It will be prudent, therefore, to pursue the nuclear power programme in an efficient and cost effective manner aiming for substantially increased growth rate. We have to look at novel ways of bringing in additional investments from governmental sources (central and state) and the public through bonding. There may also be prospects of private sector participation and overseas investments. Those options remain to be explored, and now is the time to mount an effort for new methods of resource mobilization

Implementation Plan for the Office of Nuclear Energy Knowledge Management Program

Energy Technology Data Exchange (ETDEWEB)

Kimberlyn C. Mousseau

2011-12-01

The primary purpose of the Department of Energy (DOE), Office of Nuclear Energy (NE) Knowledge Management (KM) Program is to capture, share, disseminate, and ensure the ability to apply the knowledge created by the major nuclear energy Research and Development (R&D) programs. In support of the KM program, the Implementation Plan for the Office of NE KM Program outlines the knowledge management and distributed data environment that is required for its success. In addition to enumerating some strategic goals and objectives, this document characterizes the initial program and identifies computer-based areas of investment required for increased knowledge sharing and collaboration. It identifies and addresses investments already in existence and describes how these investments can be further enhanced and implemented to support a distributed KM program. The Idaho National Laboratory (INL) is leading the effort to identify and address these investments through the implementation of a distributed KM program that includes participants from ten of the major DOE national laboratories.

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

International Nuclear Information System (INIS)

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

2012-01-01

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

Nuclear power to aid development

International Nuclear Information System (INIS)

1969-01-01

Before nuclear power can play its full role in contributing to the development of less advanced countries, full understanding of the capital investment, fuel costs and other economic factors as well as of the place it must take in existing power programmes is essential. Some insight into the problems and prospects was gained at the symposium arranged by the Agency, and held in Istanbul in October, on 'Nuclear Energy Costs and Economic Development'. (author)

The Investors- Reaction to Investment Rating Change Announcements

OpenAIRE

Chih-Hsiang Chang; Liang-Chien Lee; Shu-Ling Wu

2012-01-01

This study investigates the investors- behavioral reaction to the investment rating change announcements from the views of behavioral finance. The empirical results indicate that self-interest does affect the intention of securities firms to release investment ratings for individual stocks. In addition, behavioral pitfalls are also found in the response of retail investors to investment rating change announcements.

Nuclear Energy Division. 2009 Activity report

International Nuclear Information System (INIS)

2009-01-01

After a presentation of the future investment programme of the nuclear energy department at the French national Nuclear Research Center (CEA), this report proposes a description of tomorrow's industrial nuclear systems (back-end of future fuel cycle, fourth generation systems, basic scientific and technological research), describes how current nuclear industrial systems are optimized (front-end and back-end of fuel cycle, second and third generation reactors). It presents the main tools for nuclear development: simulation programme, the Jules Horowitz reactor project, maintenance of specific facilities, research valorisation. It reports the activities related to the clean-up and dismantling in different nuclear sites, presents the activities of CEA's nuclear research centres (Saclay, Cadarache, Marcoule), briefly presents the transverse material programme, recalls some events, and gives some key figures

Attracting and Retaining Talent and Building Knowledge Networks in the Global Nuclear Industry

International Nuclear Information System (INIS)

Thomas, C.

2014-01-01

Effective recruitment strategy: → Distinctly separate strategies for Nuclear and Non-Nuclear; Engagement with nuclear communities; → Investment in the recruitment process – both time and personnel; → Selecting supply chain partners that match objectives; → Different approaches for different demographics

Department of Energy: monitoring and control of British Nuclear Fuels plc. Report by the Comptroller and Auditor General

Energy Technology Data Exchange (ETDEWEB)

1989-01-01

British Nuclear Fuels plc (BNFL) was set up in 1971 to take over the nuclear fuel production and reprocessing activities of the United Kingdom Atomic Energy Authority with the Department of Energy (as majority shareholder) being responsible for the monitoring and control of BNFL's activities. BNFL's activities include the production of nuclear fuel, uranium enrichment, and the transportation and reprocessing of spent fuel. Its major capital investment includes the construction of the Thermal Oxide Reprocessing Plant (THORP) due for completion in 1992. This study examined the effectiveness of the Department's arrangements for monitoring and control and for safeguarding the Government's investment in the company, the arrangements for examining BNFL's capital investment programme and the extent to which the Department's main aims have been achieved. The examination was restricted to the financial performance. The National Audit Office found evidence to suggest that BNFL's financial performance has not kept pace with the general performance level of British Industry. Future success and performance will depend on the success of the THORP plant. (U.K.).

Direct foreign investment in power sector in India: Enron - a case study

International Nuclear Information System (INIS)

Singhyadav, S.

1996-01-01

In order to develop its economy at a faster pace, India needs to make large investments in its infrastructure - electric power being one such sector - domestic as well as foreign companies - to invest in this area. In response, Enron Corporation of USA entered into an agreement with the Maharashtra State Electricity Board to establish a 2-phase power project for a capacity of 2015 MW (695 MW in Phase I and 1320 MW in Phase II). Soon after the contract, there was a change of government in the State, as a result of elections. The new government scrapped the project tariff, etc. Since India is an emerging destination for foreign investments, scrapping of the project may have an adverse repercussion on the inflow of foreign capital in future as also on the cost of this capital. However, a renegotiated settlement will go a long way to establish the credibility of Enron as a serious multinational giant and India as a sage destination for foreign investments. (author). 19 refs., 3 tabs

FOREIGN DIRECT INVESTMENTS DURING FINANCIAL CRISES

Directory of Open Access Journals (Sweden)

VINTILA DENISIA MARIANA

2011-12-01

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

The Tradeoff Between Mutual Fund and Direct Stock Investments

DEFF Research Database (Denmark)

Marekwica, Marcel; Steininger, Bertram I.

2014-01-01

We study the tradeoff between direct and indirect stock investments through equity mutual funds for a utility-maximizing investor. Whereas direct investments impose higher transaction costs on the formation of a well-diversified portfolio, mutual funds charge fees for their services. Our results...... show that the fee levels that make private investors indifferent between direct and indirect stock investments vary heavily according to risk aversion, the amounts invested, correlations between assets, transaction costs, and the length of investment horizon. In particular, our results suggest...

Theoretical studies in nuclear reactions and nuclear structure

Energy Technology Data Exchange (ETDEWEB)

1992-05-01

Research in the Maryland Nuclear Theory Group focusses on problems in four basic areas of current relevance. Hadrons in nuclear matter; the structure of hadrons; relativistic nuclear physics and heavy ion dynamics and related processes. The section on hadrons in nuclear matter groups together research items which are aimed at exploring ways in which the properties of nucleons and the mesons which play a role in the nuclear force are modified in the nuclear medium. A very interesting result has been the finding that QCD sum rules supply a new insight into the decrease of the nucleon's mass in the nuclear medium. The quark condensate, which characterizes spontaneous chiral symmetry breaking of the late QCD vacuum, decreases in nuclear matter and this is responsible for the decrease of the nucleon's mass. The section on the structure of hadrons contains progress reports on our research aimed at understanding the structure of the nucleon. Widely different approaches are being studied, e.g., lattice gauge calculations, QCD sum rules, quark-meson models with confinement and other hedgehog models. A major goal of this type of research is to develop appropriate links between nuclear physics and QCD. The section on relativistic nuclear physics represents our continuing interest in developing an appropriate relativistic framework for nuclear dynamics. A Lorentz-invariant description of the nuclear force suggests a similar decrease of the nucleon's mass in the nuclear medium as has been found from QCD sum rules. Work in progress extends previous successes in elastic scattering to inelastic scattering of protons by nuclei. The section on heavy ion dynamics and related processes reports on research into the e{sup +}e{sup {minus}} problem and heavy ion dynamics.

Spillovers from Foreign Direct Investment

DEFF Research Database (Denmark)

Meyer, Klaus E.; Sinani, Evis

2005-01-01

The extensive empirical literature analyzing productivity spillovers from foreign direct investment to local firms provides inconclusive results. Some studies find that foreign presence has a positive impact on the productivity of domestic firms, while others find no evidence or a negative effect...... for industrialized countries in the 1990s. Transition economies may experience spillovers, but these have been declining in recent years. Keywords: developing countries, transition economies, spillovers, foreign direct investment, technology transfer, meta-analysis...

Evaluating nuclear power as the next baseload generation option

International Nuclear Information System (INIS)

Jackson, K.J.; Sanford, M.O.

1992-01-01

Numerous factors must be taken into account when planning to meet baseload generating needs of the next century. Examining nuclear power as an option to meet these needs offers significant challenges with respect to evaluating and managing the business risks. This paper describes one mechanism to accomplish this while continuing to participate in industry activities targeted at advancing the nuclear option. One possible model of pursuing high-risk, long-term projects, like nuclear power, is to spread these risks among the project participants and for each organization to commit slowly. With this model of progressive engagement, participants may invest in early information gathering with the objective of uncertainty reduction at preliminary stages in the project, before large investments must be made. For nuclear power, a partnership between a utility (or utility group) and a supplier team may well be the best means of implementing such a model. A partnership also provides opportunity to develop the long-term relationships within the industry which are imperative

Foreign Direct Investments – the Standard of Fair and Equitable Treatment of Investments on the Example of a Case of the International Center for Settlement of Investment Disputes (ICSID

Directory of Open Access Journals (Sweden)

Ismail Musabegović

2015-06-01

Full Text Available Foreign direct investments (FDI have a tendency of growth, which will, in accordance with projections, be continued in the future. The increasing number of FDI triggers an increase in the number of cases related to them. After defining the term of international capital movements and its manifestations in the first part of the paper, in its second part the authors give an overview of foreign direct investment, both globally and in the region. The third part deals with the investment disputes before the arbitration court, while in the fourth section, a case of the International Center for Settlement of Investment Disputes (ICSID is presented. As the case of violation of the principle of fair and equitable treatment of investments is in the main focus of this paper, it is thesubject of а deeper analysis. In this paper, the authors use methodology which is characteristic for social sciences: descriptive and historical method, comparative analysis and case study.

Research for nuclear power. A Swiss perspective

International Nuclear Information System (INIS)

Foskolos, K.; Yadigaroglu, G.; Chawla, R.; Paul Scherrer Inst., Villigen

1996-01-01

Nuclear energy research in Switzerland is concentrated in the Department for Nuclear Energy and Safety Research of the Paul Scherrer Institute (PSI). Nuclear research at PSI is structured around three main poles: safety and related operational issues for existing NPPs, nuclear waste management, and safety characteristics of future reactor concepts. Further, global aspects of energy systems are examined with regard to safety, economics and environmental impact. Presently, a total effort of about 200 py/a is invested in the nuclear research. Government funding of nuclear research was relatively stable during recent years, reaching about 35 MCHF/a. External funding of about 15 MCHF/a is expected to remain stable. (R.P.)

Developing 2 C-compatible investment criteria

Energy Technology Data Exchange (ETDEWEB)

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

2015-11-30

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

Developing 2 C-compatible investment criteria

International Nuclear Information System (INIS)

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

2015-01-01

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

Investment in body image for self-definition results in greater vulnerability to the thin media than does investment in appearance management.

Science.gov (United States)

Ip, Karen; Jarry, Josée L

2008-03-01

This study investigated the effect of thin images according to two dimensions of body-image (BI) investment. Ninety-five females were classified as high or low investors based on the Appearance Schemas Inventory-Revised Self-Evaluative Salience (SES) and Motivational Salience (MS) subscales. Participants viewed advertisements portraying either the thin ideal or products. Results indicated that both women high in SES and MS reported lowered appearance self-esteem but greater BI importance following thin exposures. However, only the high SES group reported greater BI dissatisfaction and importance of current-ideal discrepancies after seeing thin images. Although highly invested women (regardless of their motivation for investment) are more responsive to thin media images than are women low in investment, those invested for self-definition are affected on more dimensions than are those invested for appearance management.

12 CFR 704.5 - Investments.

Science.gov (United States)

2010-01-01

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

The Gender and Equity Implications of Land-Related Investments on Labour and Income-Generating Opportunities. A Case Study of Agricultural Investments in Lao PDR

NARCIS (Netherlands)

E. Daley (Elizabeth); M Osorio (Martha); C.M.Y. Park (Clara)

2013-01-01

markdownabstract__Abstract__ Concerns about the potential gender and equity implications of land-related investments on labour and income-generating opportunities and access, use and control of land come in the context of the current global policy interest in supporting agricultural investment

77 FR 18277 - Domini Social Investment Trust and Domini Social Investments LLC; Notice of Application

Science.gov (United States)

2012-03-27

... SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 29984; 812-13971] Domini Social Investment Trust and Domini Social Investments LLC; Notice of Application March 21, 2012. AGENCY... the Investment Company Act of 1940 (``Act'') for an exemption from section 15(a) of the Act and rule...

Quantitative investment analysis

CERN Document Server

DeFusco, Richard

2007-01-01

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

Accounting conservatism,ultimate ownership and investment efficiency

Institute of Scientific and Technical Information of China (English)

Xiaodong Xu; Xia Wang; Nina Han

2012-01-01

Purpose-The purpose of this paper is to analyze and examine the role of accounting conservatism on firm investment behavior in China.Design/methodology/approach-By combining a developed theoretical framework and empirical study,this paper examines the impacts of accounting conservatism on firm investment.The sample and data are all collected from Wind and CAMAR databases.Findings-The paper finds that the association between accounting conservatism and capital expenditure is significantly positive when inside capital is not enough to use for investment,suggesting that conservatism can expend the level of investment by decreasing information asymmetry and cost of capital;however,the association between accounting conservatism and capital expenditure is significantly negative when inside capital is enough to use for investment,suggesting that conservatism can curtail the level of investment by mitigating the interest conflicts between management and outside shareholders and decreasing agency costs.Additionally,the paper finds that the severity of information asymmetry and agency problem affects the role of accounting conservatism on firm investment behaviour,and the association between accounting conservatism and capital expenditure is weaker for firms with ultimate ownership controller as local government or individuals.Originality/value-This is the first paper to analyze and examine the impacts of accounting conservatism on firm investment in China directly.The findings are also useful to explain the awkward predicament found by prior literature.

A case study in the use of cancelled plant equipment in nuclear plant modifications

International Nuclear Information System (INIS)

Anders, D.A.

1986-01-01

The nuclear industry has suffered several blows in the recent past in the form of generating plant cancellations. Upon cancellation, the utility must find a way of minimizing its loss on investment already incurred - consisting of purchased property, partially completed plant, and unused equipment. In many cases, the utility has no practical choice but to dispose of its unused equipment at extremely low prices. While this certainly represents an unfortunate situation for the seller, it does present a significant opportunity for other utilities to procure equipment to use in modifications to their own plants. This paper presents a case study in the use of such cancelled plant equipment in modifications at two nuclear generating facilities. In particular, modifications to replace the refueling platforms at each of the two units at Philadelphia Electric Company's (PECo) Peach Bottom Atomic Power Station and Installation of additional Standby Liquid Control equipment at Limerick Generating Station will be examined. The purpose of the paper is to show the applicability of this information to other utilities

Does nuclear energy have a future?

International Nuclear Information System (INIS)

Kienle, F.

1989-01-01

Nuclear energy contributes 17% to global electricity production and almost 40% to the public supply in Germany. Operators of nuclear power plants are having to invest considerable effort in trying to set the public thinking and boring public opinion away from an emotional rejection towards a rational consideration of the risks of different energy systems. It is argued that in view of the specific problems of environmental pollution through CO 2 it should be possible to bring about public acceptance of nuclear energy utilization. (DG) [de

Determination of leveled costs of electric generation for gas plants, coal and nuclear

International Nuclear Information System (INIS)

Alonso V, G.; Palacios H, J.C.; Ramirez S, J.R.; Gomez, A.

2005-01-01

The present work analyzes the leveled costs of electric generation for different types of nuclear reactors known as Generation III, these costs are compared with the leveled costs of electric generation of plants with the help of natural gas and coal. In the study several discount rates were used to determine their impact in the initial investment. The obtained results are comparable with similar studies and they show that it has more than enough the base of the leveled cost the nuclear option it is quite competitive in Mexico. Also in this study it is also thinks about the economic viability of a new nuclear power station in Mexico. (Author)

[Research on investing methods and mold cooling methods of the self-made investment for pure titanium castings].

Science.gov (United States)

Zhao, Juan; Huang, Xu; Zhao, Yun-Feng; Xiao, Mao-Chun; Li, Yong

2006-10-01

To observe the influence of different investing methods and mold cooling methods on pure titanium castings invested in the self-made investment, and to provide theoretic base for the development for the investment. The influence of investing methods (one-step investing method and two-step investing method) on castability and crown fit of titanium castings were investigated, and the influence of cooling methods on reaction layers, mechanical properties and crown fit of titanium castings were investigated. Both the investing methods exhibited good castability, but only the titanium full crowns by one-step investing method showed clinically acceptable fit. Although the quenching group showed thinner reaction layer(100 microm), lower strength and similar elongation rate, the titanium castings by bench cooling showed clinically acceptable full crown fit with 115 microm thick reaction layer as cast. The one-step investing method and the bench cooling are recommended for the self-made investment.

The world nuclear market and its prospects

International Nuclear Information System (INIS)

Anon.