Winter cover crops on processing tomato yield, quality, pest pressure, nitrogen availability, and profit margins.

Directory of Open Access Journals (Sweden)

Kimberly D Belfry

Full Text Available Much of cover crop research to date focuses on key indicators of impact without considering the implications over multiple years, in the absence of a systems-based approach. To evaluate the effect of three years of autumn cover crops on subsequent processing tomato (Solanum lycopersicum L. production in 2010 and 2011, a field split-split-plot factorial design trial with effects of cover crop type, urea ammonium nitrate fertilizer rate (0 or 140 kg N ha-1 preplant broadcast incorporated and tomato cultivar (early vs. late was conducted. The main plot factor, cover crop, included a no cover crop control, oat (Avena sativa L., winter cereal rye (hereafter referred to as rye (Secale cereale L., oilseed radish (OSR (Raphanus sativus L. var. oleiferus Metzg Stokes, and mix of OSR and rye (OSR + rye treatments. Cover crop biomass of 0.5 to 2.8 and 1.7 to 3.1 Mg ha-1 was attained in early Oct. and the following early May, respectively. In general, OSR increased soil mineral N during cover crop growth and into the succeeding summer tomato growing season, while the remaining cover crops did not differ from the no cover crop control. The lack of a cover crop by N rate interaction in soil and plant N analyses at harvest suggests that growers may not need to modify N fertilizer rates to tomatoes based on cover crop type. Processing tomato fruit quality at harvest (rots, insect or disease damage, Agtron colour, pH, or natural tomato soluble solids (NTSS was not affected by cover crop type. In both years, marketable yield in the no cover crop treatment was lower or not statistically different than all planted cover crops. Partial profit margins over both years were 1320 $ ha-1 higher with OSR and $960 higher with oat compared to the no cover crop control. Thus, results from a systems-based approach suggest that the cover crops tested had no observed negative impact on processing tomato production and have the potential to increase marketable yield and profit

Operating Profitability of For-Profit and Not-for-Profit Florida Community Hospitals During Medicare Policy Changes, 2000 to 2010.

Science.gov (United States)

Langland-Orban, Barbara; Large, John T; Sear, Alan M; Zhang, Hanze; Zhang, Nanhua

2015-01-01

Medicare Advantage was implemented in 2004 and the Recovery Audit Contractor (RAC) program was implemented in Florida during 2005. Both increase surveillance of medical necessity and deny payments for improper admissions. The purpose of the present study was to determine their potential impact on for-profit (FP) and not-for-profit (NFP) hospital operating margins in Florida. FP hospitals were expected to be more adversely affected as admissions growth has been one strategy to improve stock performance, which is not a consideration at NFPs. This study analyzed Florida community hospitals from 2000 through 2010, assessing changes in pre-tax operating margin (PTOM). Florida Agency for Health Care Administration data were analyzed for 104 community hospitals (62 FPs and 42 NFPs). Academic, public, and small hospitals were excluded. A mixed-effects model was used to assess the association of RAC implementation, organizational and payer type variables, and ownership interaction effects on PTOM. FP hospitals began the period with a higher average PTOM, but converged with NFPs during the study period. The average Medicare Advantage effect was not significant for either ownership type. The magnitude of the RAC variable was significantly negative for average PTOM at FPs (-4.68) and positive at NFPs (0.08), meaning RAC was associated with decreasing PTOM at FP hospitals only. RAC complements other Medicare surveillance systems that detect medically unnecessary admissions, coding errors, fraud, and abuse. Since its implementation in Florida, average FP and NFP operating margins have been similar, such that the higher margins reported for FP hospitals in the 1990s are no longer evident. © The Author(s) 2015.

The importance of working capital management for hospital profitability: evidence from bond-issuing, not-for-profit U.S. hospitals.

Science.gov (United States)

Rauscher, Simone; Wheeler, John R C

2012-01-01

Increased financial pressures on hospitals have elevated the importance of working capital management, that is, the management of current assets and current liabilities, for hospitals' profitability. Efficient working capital management allows hospitals to reduce their holdings of current assets, such as inventory and accounts receivable, which earn no interest income and require financing with short-term debt. The resulting cash inflows can be reinvested in interest-bearing financial instruments or used to reduce short-term borrowing, thus improving the profitability of the organization. This study examines the relationship between hospitals' profitability and their performance at managing two components of working capital: accounts receivable, measured in terms of hospitals' average collection periods, and accounts payable, measured in terms of hospitals' average payment periods. Panel data derived from audited financial statements for 1,397 bond-issuing, not-for-profit U.S. hospitals for 2000-2007 were analyzed using hospital-level fixed-effects regression analysis. The results show a negative relationship between hospitals' average collection period and profitability. That is, hospitals that collected on their patient revenue faster reported higher profit margins than did hospitals that have larger balances of accounts receivable outstanding. We also found a negative relationship between hospitals' average payment period and their profitability. Hospital managers did not appear to delay paying their vendors. Rather, the findings indicated that more profitable hospitals paid their suppliers faster, possibly to avoid high effective interest rates on outstanding accounts payable, whereas less profitable hospitals waited longer to pay their bills. The findings of this study suggest that working capital management indeed matters for hospitals' profitability. Efforts aimed at reducing large balances in both accounts receivable and accounts payable may frequently be

Revisiting The Concepts of Money, Profit and Interest from The Perspective of Value and Diminishing Marginal Utility

Directory of Open Access Journals (Sweden)

Ahamed Kameel Mydin Meera

2015-08-01

Full Text Available This article is a theoretical article that attempts to clarify the inherent meanings of the concepts of profit and interest, i.e. two important concepts in finance, particularly Islamic Finance. These are age-old concepts in economics that still draw confusion among people. Profit comes from trade and interest comes from lending and borrowing activities. While the former is much encouraged in Islam, the latter is strongly forbidden. Nonetheless, in today’s monetary and financial circumstances, the market interest rate is being used as a benchmark for the Islamic profit rate, drawing criticisms from many quarters that both are indeed one and the same. Using the fundamental economic concept of marginal utility, this paper attempts to clarify the fundamental difference in these two concepts and their implications for modern finance, particularly Islamic finance. Indirectly in the process, the paper also clarifies the concepts of money and riba.

Evaluating Banking Profit Performance in Ghana during and post Profit Decline: A five Step Du-Pont Approach

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Baah Aye Kusi

2015-11-01

Full Text Available In this study we aimed at three objectives. First, identify and rank banks based on a composite score comprising of all five du-pont variables. Second, we identify variables in the five step du-pont set up that are most likely to influence bank ROE during and post profit declining periods. And third, we estimate a model to capture the variables that drive bank ROE during and post profit declining periods. We first establish from our rankings that, foreign banks in Ghana performed better during profit declining periods while the local banks performed better in post profit decline periods using the top ten banks as a benchmark in both periods. Employing Pearson correlation coefficients matrix, we recognized that operating profit margin, asset turnover and leverage were most likely to influence bank ROE in both time periods. We further employ OLS regression and find that bank ROE was impacted by operating profit margin and leverage during profit declining periods and post profit decline while tax effect added up in post profit declining periods.

How Big is Too Big for Hubs: Marginal Profitability in Hub-and-Spoke Networks

Science.gov (United States)

Ross, Leola B.; Schmidt, Stephen J.

1997-01-01

Increasing the scale of hub operations at major airports has led to concerns about congestion at excessively large hubs. In this paper, we estimate the marginal cost of adding spokes to an existing hub network. We observe entry/non-entry decisions on potential spokes from existing hubs, and estimate both a variable profit function for providing service in markets using that spoke as well as the fixed costs of providing service to the spoke. We let the fixed costs depend upon the scale of operations at the hub, and find the hub size at which spoke service costs are minimized.

Personnel Policy and Profit

DEFF Research Database (Denmark)

Bingley, Paul; Westergård-Nielsen, Niels Chr.

2004-01-01

personnel structure variation. It is found that personnel policy is strongly related to economic performance. At the margin, more hires are associated with lower profit, and more separations with higher profit. For the average firm, one new job, all else equal, is associated with ?2680 (2000 prices) lower...

Marginalized zero-inflated negative binomial regression with application to dental caries.

Science.gov (United States)

Preisser, John S; Das, Kalyan; Long, D Leann; Divaris, Kimon

2016-05-10

The zero-inflated negative binomial regression model (ZINB) is often employed in diverse fields such as dentistry, health care utilization, highway safety, and medicine to examine relationships between exposures of interest and overdispersed count outcomes exhibiting many zeros. The regression coefficients of ZINB have latent class interpretations for a susceptible subpopulation at risk for the disease/condition under study with counts generated from a negative binomial distribution and for a non-susceptible subpopulation that provides only zero counts. The ZINB parameters, however, are not well-suited for estimating overall exposure effects, specifically, in quantifying the effect of an explanatory variable in the overall mixture population. In this paper, a marginalized zero-inflated negative binomial regression (MZINB) model for independent responses is proposed to model the population marginal mean count directly, providing straightforward inference for overall exposure effects based on maximum likelihood estimation. Through simulation studies, the finite sample performance of MZINB is compared with marginalized zero-inflated Poisson, Poisson, and negative binomial regression. The MZINB model is applied in the evaluation of a school-based fluoride mouthrinse program on dental caries in 677 children. Copyright © 2015 John Wiley & Sons, Ltd.

A Decomposition of Hospital Profitability: An Application of DuPont Analysis to the US Market.

Science.gov (United States)

Turner, Jason; Broom, Kevin; Elliott, Michael; Lee, Jen-Fu

2015-01-01

This paper evaluates the drivers of profitability for a large sample of U.S. hospitals. Following a methodology frequently used by financial analysts, we use a DuPont analysis as a framework to evaluate the quality of earnings. By decomposing returns on equity (ROE) into profit margin, total asset turnover, and capital structure, the DuPont analysis reveals what drives overall profitability. Profit margin, the efficiency with which services are rendered (total asset turnover), and capital structure is calculated for 3,255 U.S. hospitals between 2007 and 2012 using data from the Centers for Medicare & Medicaid Services' Healthcare Cost Report Information System (CMS Form 2552). The sample is then stratified by ownership, size, system affiliation, teaching status, critical access designation, and urban or non-urban location. Those hospital characteristics and interaction terms are then regressed (OLS) against the ROE and the respective DuPont components. Sensitivity to regression methodology is also investigated using a seemingly unrelated regression. When the sample is stratified by hospital characteristics, the results indicate investor-owned hospitals have higher profit margins, higher efficiency, and are substantially more leveraged. Hospitals in systems are found to have higher ROE, margins, and efficiency but are associated with less leverage. In addition, a number of important and significant interactions between teaching status, ownership, location, critical access designation, and inclusion in a system are documented. Many of the significant relationships, most notably not-for-profit ownership, lose significance or are predominately associated with one interaction effect when interaction terms are introduced as explanatory variables. Results are not sensitive to the alternative methodology. The results of the DuPont analysis suggest that although there appears to be convergence in the behavior of NFP and IO hospitals, significant financial differences remain

PROFIT SENSITIVITY IN THE DECISION - MAKING PROCESS

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Dimi Ofilean

2014-09-01

Full Text Available Projections on the profitability of an entity is a prerequisite impact assessment of implementing various management strategies. The literature did not include a model sensitivity analysis in terms of profit margin of safety modification and safety coefficient. This article aims to explicit solutions for identifying the factors that influence the sensitivity of profit, the proposed analytical models to change the margin of safety (physical and value and coefficient of safety. The model allows the determination of limits that can increase or decrease sales costs so that the company remains profitable, ie to be able to maintain an adequate level of profit. This analysis allows knowing the influence of each factor in the evolution of the profitability of the entity, allowing managers to adopt the right decisions based on the importance of the influence of the analysis results of the entity. To facilitate understanding of the proposed analytical model is presented a case study.

Amazon: Is Profitability a Possibility?

Directory of Open Access Journals (Sweden)

Brett DENNIS

2014-06-01

Full Text Available In today’s society, companies seem to all be following the same trend; growth in profitability at all cost. Higher profits, for the most part, leads to more investors and more potential financing. Amazon.com appears to be breaking that trend, however. Their strategy seems to be growth, but not in profits. We would like to look into how and why Amazon is growing at such a fast pace, while their profits are staying steady at a very low level. Is profitability a possibility for Amazon? We believe that a marginal increase in price could accomplish just that, with a minimal impact to consumers.

Comparison of efficiency and profitability of investor-owned multihospital systems with not-for-profit hospitals.

Science.gov (United States)

Sear, A M

1991-01-01

It is often assumed that investor-owned hospitals are more market driven than are not-for-profit hospitals, and that they will maximize output and minimize inputs, to the exclusion of other management strategies. To resolve the conflicting research evidence, this study analyzed efficiency and profitability measures for approximately 50 investor-owned and 60 not-for-profit hospitals in Florida for the period from 1982 through 1988. The results indicate that the investor-owned hospitals used significantly fewer FTE staff per bed, had significantly fewer manhours per adjusted patient day, and paid significantly less in wages and had significantly higher operating margins (profit) than did the not-for-profit institutions.

Improving profitability in a grassroots refinery

Energy Technology Data Exchange (ETDEWEB)

Coombs, T. [Star Petroleum Refining Co. Ltd. (Thailand); Kennedy, P.; Bhargava, S. [KBC Process Technology Ltd. (United Kingdom)

1999-05-01

Actions taken to maximise profit at the Star Refinery in Thailand are described. The company made good use of the Profit Improvement Programme (PIP) (which specialises in refinery economics) and the way in which PIP addressed the problem and the benefits derived therefrom is the nub of this paper. The efforts appear to have been more than satisfactory from the aspect of increasing profit margins. (UK)

The effect of capital structure on the profitability of pharmaceutical companies the case of iran.

Science.gov (United States)

Mohammadzadeh, Mehdi; Rahimi, Farimah; Rahimi, Forough; Aarabi, Seyed Mohammad; Salamzadeh, Jamshid

2013-01-01

Funding combination is the most important issue for the companies while they know the amount of required capital. Companies should be careful regarding the appliance of financial providing methods compatible with the investment strategy of company and profitability. This study seeks to examine the relationship between the capital structure and the profitability of pharmaceutical companies in Iran. For this purpose, top 30 Iranian pharmaceutical companies defined as study samples and their financial data were gathered for the period of 2001-2010. In this study, the net margin profit and debts to asset ratio were used as indicators of profitability and capital structure, respectively and sales growth was used as a control variable. Results showed that there was significant negative relationship between the profitability and the capital structure which means that the pharmaceutical companies have established a Pecking Order Theory and the internal financing has led to more profitability.

Patient experience and hospital profitability: Is there a link?

Science.gov (United States)

Richter, Jason P; Muhlestein, David B

Patient experience has had a direct financial impact on hospitals since value-based purchasing was instituted by the Centers for Medicare & Medicaid Services in 2013 as a method to reward or punish hospitals based on performance on various measures, including patient experience. Although other industries have shown an indirect impact of customer experience on overall profitability, that link has not been well established in the health care industry. Return-to-provider rate and perceptions of health quality have been associated with profitability in the health care industry. Our aims were to assess whether, independent of a direct financial impact, a more positive patient experience is associated with increased profitability and whether a more negative patient experience is associated with decreased profitability. We used a sample of 19,792 observations from 3767 hospitals over the 6-year period 2007-2012. The data were sourced from Centers for Medicare & Medicaid Services and Hospital Consumer Assessment of Healthcare Providers and Systems. Using generalized estimating equations to account for repeated measures, we fit four separate models for three dependent variables: net patient revenue, net income, and operating margin. Each model included one of the following independent variables of interest: percentage of patients who definitely recommend the hospital, percentage of patients who definitely would not recommend the hospital, percentage of patients who rated the hospital 9 or 10, and percentage of patients who rated the hospital 6 or lower. We identified that a positive patient experience is associated with increased profitability and a negative patient experience is even more strongly associated with decreased profitability. Management should have greater justification for incurring costs associated with bolstering patient experience programs. Improvements in training, technology, and staffing can be justified as a way to improve not only quality but now

Multivariate Analysis of Profitability Indicators for Selected Companies of Croatian Market

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Ana Perisa

2017-12-01

Full Text Available In this paper, the profitability indicators are analysed for the first hundred companies of the Croatian market, which are classified according to the net profit. The profitability indicators included in the analysis are the following: EBIT margin, EBITDA margin, net profit margin, return on assets (ROA, return on invested capital (ROI and return on capital employed (ROCE. By implementing the factor analysis, six chosen profitability indicators have been reduced to two factors, thus solving the multicollinearity problem, which is one of the prerequisites for the cluster analysis. For two extracted factors, the factor scores are calculated and used in the following cluster analysis. By implementing the cluster analysis, selected companies are grouped into clusters according to their similarity in accomplished results that are measured by profitability indicators. The hierarchical and non-hierarchical cluster analyses are conducted and resulted into two clusters where ten companies were in the first cluster, while the other ninety were in the second cluster

Profitability indicators of milk production cost center in intensive systems of production

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Glauber dos Santos

2012-01-01

Full Text Available The objective was to estimate some profitability indicators of dairy cost center farms with a high volume of daily production in feedlot. The Intended was also to identify the components that had the greatest influence on the operational cost. We used data from three milk systems production, with the origin of the purebred Holsteins. It was considered as a milk cost center production all expenses related in lactating and dry cows. The methodology used total cost and operating cost in profitability analysis. A production system, by presenting gross margin, net positive result, was able to produce short, medium and long term. Another production system had a positive gross margin and net, with conditions to survive in the short and medium term. Finally, the third system of production has shown a negative gross margin presenting decapitalizing and entering into debt, as revenues were not enough to pay operating expenses even effective. The component items of the effective operational cost that exercised higher “impact” cost and income from milk were, in decreasing order, the feeding, labor, miscellaneous expenses, sanitation, energy, milking, reproduction, equipment rental, BST and taxes.

Length of stay for patients undergoing invasive electrode monitoring with stereoelectroencephalography and subdural grids correlates positively with increased institutional profitability.

Science.gov (United States)

Chan, Alvin Y; Kharrat, Sohayla; Lundeen, Kelly; Mnatsakanyan, Lilit; Sazgar, Mona; Sen-Gupta, Indranil; Lin, Jack J; Hsu, Frank P K; Vadera, Sumeet

2017-06-01

Lowering the length of stay (LOS) is thought to potentially decrease hospital costs and is a metric commonly used to manage capacity. Patients with epilepsy undergoing intracranial electrode monitoring may have longer LOS because the time to seizure is difficult to predict or control. This study investigates the effect of economic implications of increased LOS in patients undergoing invasive electrode monitoring for epilepsy. We retrospectively collected and analyzed patient data for 76 patients who underwent invasive monitoring with either subdural grid (SDG) implantation or stereoelectroencephalography (SEEG) over 2 years at our institution. Data points collected included invasive electrode type, LOS, profit margin, contribution margins, insurance type, and complication rates. LOS correlated positively with both profit and contribution margins, meaning that as LOS increased, both the profit and contribution margins rose, and there was a low rate of complications in this patient group. This relationship was seen across a variety of insurance providers. These data suggest that LOS may not be the best metric to assess invasive monitoring patients (i.e., SEEG or SDG), and increased LOS does not necessarily equate with lower or negative institutional financial gain. Further research into LOS should focus on specific specialties, as each may differ in terms of financial implications. Wiley Periodicals, Inc. © 2017 International League Against Epilepsy.

Comparative Analysis Of Small Medium Enterprise Profitability Based On Its Ownership Form And Ethnicity: Study On Automotive Sector In Yogyakarta

OpenAIRE

Singapurwoko, Arif

2017-01-01

Tujuan penelitian mi adalah untuk mengetahui (apakah terdapat perbedaan operating profit margin, net profit margin dan return on investment antara pengusaha Jawa dengan Tionghoa, dan bentuk sole proprietorship dengan partnership. Lokasi penelitian dilakukan di Yogyakarta pada perusahaan-perusahaan skala kecil dan menengah yang bergerak dalam bisnis otomotif suku cadang mobil dan bengkel.Variabel independent dalam penelitian ini adalah operating profit margin, net profit margin dan return on i...

[A new technique for ensuring negative surgical margins during partial nephrectomy: the ex vivo ultrasound control].

Science.gov (United States)

Desmonts, A; Tillou, X; Le Gal, S; Secco, M; Orczyk, C; Bensadoun, H; Doerfler, A

2013-10-01

To evaluate the feasibility and the efficiency of intraoperative ex vivo ultrasound of resection margins in patients undergoing partial nephrectomy by urologist. Patients undergoing partial nephrectomy from July 2010 to November 2012 for T1-T2 renal tumors were included in analysis. Tumor margin status was immediately determined by ex vivo ultrasound done by the surgeon himself. Results were compared with margin status on definitive pathological evaluation. A total of 26 men and 15 women with a median age of 61 (30-82) years old were included in analysis. Intraoperative ex vivo ultrasound revealed negative surgical margins in 38 cases and positive margins in two. Final pathological results revealed negative margins in all except one case. Ultrasound sensitivity and specificity were 100% and 97%, respectively. Mean ultrasound duration was 1minute±1. Mean tumor and margin sizes were 3.4±1.8cm and 2.38±1.76mm, respectively. Intraoperative ex vivo ultrasound of resection margins in patients undergoing partial nephrectomy by a urologist seemed to be feasible, efficient and easy. Copyright © 2013 Elsevier Masson SAS. All rights reserved.

smallholder farmers' use and profitability of legume inoculants

African Journals Online (AJOL)

ACSS

Rhizobia inoculant, a product of Kenya, and its profitability in smallholder farms. Data were collected from ... of the inoculants use and gross margin analysis to examine profitability. The area under the .... the effects of various factors on the extent of. BIOFIX® use. ..... little information, resulting in reduced adoption of legume ...

Negative predictive value of ultrasound in predicting tumor-free margins in specimen sonography

International Nuclear Information System (INIS)

Naz, S.; Hafeez, S.; Hussain, Z.; Hilal, K.

2017-01-01

Objective: To evaluate the success of ultrasound in post-excision specimen visualization, and negative predictive value of ultrasound for estimation of tumor-free margins using histopathology as the gold standard. Study Design: Cross-sectional analytical study. Place and Duration of Study: The Aga Khan University Hospital, Karachi, Pakistan, from May 2010 till January 2013. Methodology: Sonography of all breast nodules was done before and after exicision by two female radiologists with at least five years clinical experience. All surgeries were performed by the same referring breast surgeons. All nodules were non-palpable and had histopathology as well as specimen sonography performed at AKUH. Subjects were excluded, if histopathology was not available, post-procedure sonogram not done or done in another hospital and nodules that were not seen on ultrasound. After needle localization in 47 patients using ultrasound and in 7 patients using mammogram was done, sonogram was conducted in all 54 lesions. These were then assessed by ultrasound for detection of lesion and tumor-free margins in malignant lesion. Post-excision ultrasound was performed for the evaluation of lesion whether visualized or absent with localizing needle in situ, lesion dimensions, depth measurement between the superior margin of the lesion and its edge. Results: All 54 lesions were present on post-exicison scan, out of which 28 were documented as malignant and 26 as benign. Ultrasound declared all specimens as tumor-free. On histopathology, two lesions were documented as having tumor-positive margins and were proven to be invasive lobular carcinoma. Therefore, the negative predictive value of the specimen sonography for margin detection was 26/28 (92.8%). Conclusion: Ultrasound of the excised breast tumor specimen is a simple and reliable technique for confirmation of the tumor-free margins in non-palpable breast lesions. (author)

Anti-profit beliefs: How people neglect the societal benefits of profit.

Science.gov (United States)

Bhattacharjee, Amit; Dana, Jason; Baron, Jonathan

2017-11-01

Profit-seeking firms are stereotypically depicted as immoral and harmful to society. At the same time, profit-driven enterprise has contributed immensely to human prosperity. Though scholars agree that profit can incentivize societally beneficial behaviors, people may neglect this possibility. In 7 studies, we show that people see business profit as necessarily in conflict with social good, a view we call anti-profit beliefs . Studies 1 and 2 demonstrate that U.S. participants hold anti-profit views of real U.S. firms and industries. Study 3 shows that hypothetical organizations are seen as doing more harm when they are labeled "for-profit" rather than "non-profit," while Study 4 shows that increasing harm to society is viewed as a strategy for increasing a hypothetical firm's long-run profitability. Studies 5-7 demonstrate that carefully prompting subjects to consider the long run incentives of profit can attenuate anti-profit beliefs, while prompting short run thinking does nothing relative to a control. Together, these results suggest that the default view of profits is zero-sum. While people readily grasp how profit can incentivize firms to engage in practices that harm others, they neglect how it can incentivize firms to engage in practices that benefit others. Accordingly, people's stereotypes of profit-seeking firms are excessively negative. Even in one of the most market-oriented societies in history, people doubt the contributions of profit-seeking industry to societal progress. (PsycINFO Database Record (c) 2017 APA, all rights reserved).

Clinical implication of negative conversion of predicted circumferential resection margin status after preoperative chemoradiotherapy for locally advanced rectal cancer

Energy Technology Data Exchange (ETDEWEB)

Lee, Nam Kwon [Department of Radiation Oncology, Korea University Medical Center, Korea University College of Medicine, Seoul (Korea, Republic of); Kim, Chul Yong, E-mail: kcyro@korea.ac.kr [Department of Radiation Oncology, Korea University Medical Center, Korea University College of Medicine, Seoul (Korea, Republic of); Park, Young Je; Yang, Dae Sik; Yoon, Won Sup [Department of Radiation Oncology, Korea University Medical Center, Korea University College of Medicine, Seoul (Korea, Republic of); Kim, Seon Hahn; Kim, Jin [Division of Colorectal Surgery, Department of Surgery, Korea University Medical Center, Korea University College of Medicine, Seoul (Korea, Republic of)

2014-02-15

Objective: To evaluate the prognostic implication of the negative conversion of predicted circumferential resection margin status before surgery in patients with locally advanced rectal cancer with predicted circumferential resection margin involvement. Methods: Thirty-eight patients (28 men, 10 women; median age, 61 years; age range, 39–80 years) with locally advanced rectal cancer with predicted circumferential resection margin involvement who underwent preoperative chemoradiotherapy followed by radical surgery were analyzed. Involvement of the circumferential resection margin was predicted on the basis of pre- and post-chemoradiotherapy magnetic resonance imaging. The primary endpoints were 3-year local recurrence-free survival and overall survival. Results: The median follow-up time was 41.1 months (range, 13.9–85.2 months). The negative conversion rate of predicted circumferential resection margin status after preoperative chemoradiotherapy was 65.8%. Patients who experienced negative conversion of predicted circumferential resection margin status had a significantly higher 3-year local recurrence-free survival rate (100.0% vs. 76.9%; P = 0.013), disease-free survival rate (91.7% vs. 59.3%; P = 0.023), and overall survival rate (96.0% vs. 73.8%; P = 0.016) than those who had persistent circumferential resection margin involvement. Conclusions: The negative conversion of the predicted circumferential resection margin status as predicted by magnetic resonance imaging will assist in individual risk stratification as a predictive factor for treatment response and survival before surgery. These findings may help physicians determine whether to administer more intense adjuvant chemotherapy or change the surgical plan for patients displaying resistance to preoperative chemoradiotherapy.

Atlantic Basin refining profitability

International Nuclear Information System (INIS)

Jones, R.J.

1998-01-01

A review of the profitability margins of oil refining in the Atlantic Basin was presented. Petroleum refiners face the continuous challenge of balancing supply with demand. It would appear that the profitability margins in the Atlantic Basin will increase significantly in the near future because of shrinking supply surpluses. Refinery capacity utilization has reached higher levels than ever before. The American Petroleum Institute reported that in August 1997, U.S. refineries used 99 per cent of their capacity for several weeks in a row. U.S. gasoline inventories have also declined as the industry has focused on reducing capital costs. This is further evidence that supply and demand are tightly balanced. Some of the reasons for tightening supplies were reviewed. It was predicted that U.S. gasoline demand will continue to grow in the near future. Gasoline demand has not declined as expected because new vehicles are not any more fuel efficient today than they were a decade ago. Although federally-mandated fuel efficiency standards were designed to lower gasoline consumption, they may actually have prevented consumption from falling. Atlantic margins were predicted to continue moving up because of the supply and demand evidence: high capacity utilization rates, low operating inventories, limited capacity addition resulting from lower capital spending, continued U.S. gasoline demand growth, and steady total oil demand growth. 11 figs

Research on listed bank profit model under the interest rate liberalization

Directory of Open Access Journals (Sweden)

Geyao Zhu

2017-03-01

Full Text Available With constantly deepening the interest rate liberalization, shrinking the net interest margin and the ever-rising non-performing loan ratio, the traditional commercial banks with the main profit model of credit suffers from a severe challenge. The research significance of this paper lies in helping China’s commercial bank convert management philosophy, developing a new financial business and improving the profit model. Through the empirical research of 80 samples of China’s listed commercial banks: under the condition of interest rate liberalization, the net interest margin is still the current major profit model of the commercial bank, but the intermediate business is the future development model of the commercial banks.

A Financial Ratio Analysis of For-Profit and Non-Profit Rural Referral Centers

Science.gov (United States)

McCue, Michael J.; Nayar, Preethy

2009-01-01

Context: National financial data show that rural referral center (RRC) hospitals have performed well financially. RRC hospitals' median cash flow margin ratio was 10.04% in 2002 and grew to 11.04% in 2004. Purpose: The aim of this study is to compare the ratio analysis of key operational and financial performance measures of for-profit RRCs to…

Financial Analysis of For Profit Child Care: A Work in Progress.

Science.gov (United States)

Stephens, Keith

1989-01-01

Compares revenues, debts, investments, and profit margins of for-profit publicly and privately owned day care centers. An evaluation tool was developed through analysis of financial statements of seven privately owned child care businesses and six publicly owned child care chains. (RJC)

Does outsourcing affect hospital profitability?

Science.gov (United States)

Danvers, Kreag; Nikolov, Pavel

2010-01-01

Organizations outsource non-core service functions to achieve cost reductions and strategic benefits, both of which can impact profitability performance. This article examines relations between managerial outsourcing decisions and profitability for a multi-state sample of non-profit hospitals, across 16 states and four regions of the United States. Overall regression results indicate that outsourcing does not necessarily improve hospital profitability. In addition, we identify no profitability impact from outsourcing for urban hospitals, but somewhat positive effects for teaching hospitals. Our regional analysis suggests that hospitals located in the Midwest maintain positive profitability effects with outsourcing, but those located in the South realize negative effects. These findings have implications for cost reduction efforts and the financial viability of non-profit hospitals.

Decomposing variation in dairy profitability: the impact of output, inputs, prices, labour and management.

Science.gov (United States)

Wilson, P

2011-08-01

The UK dairy sector has undergone considerable structural change in recent years, with a decrease in the number of producers accompanied by an increased average herd size and increased concentrate use and milk yields. One of the key drivers to producers remaining in the industry is the profitability of their herds. The current paper adopts a holistic approach to decomposing the variation in dairy profitability through an analysis of net margin data explained by physical input-output measures, milk price variation, labour utilization and managerial behaviours and characteristics. Data are drawn from the Farm Business Survey (FBS) for England in 2007/08 for 228 dairy enterprises. Average yields are 7100 litres/cow/yr, from a herd size of 110 cows that use 0·56 forage ha/cow/yr and 43·2 labour h/cow/yr. An average milk price of 22·57 pence per litre (ppl) produced milk output of £1602/cow/yr, which after accounting for calf sales, herd replacements and quota leasing costs, gave an average dairy output of £1516/cow/yr. After total costs of £1464/cow/yr this left an economic return of £52/cow/yr (0·73 ppl) net margin profit. There is wide variation in performance, with the most profitable (as measured by net margin per cow) quartile of producers achieving 2000 litres/cow/yr more than the least profitable quartile, returning a net margin of £335/cow/yr compared to a loss of £361/cow/yr for the least profitable. The most profitable producers operate larger, higher yielding herds and achieve a greater milk price for their output. In addition, a significantly greater number of the most profitable producers undertake financial benchmarking within their businesses and operate specialist dairy farms. When examining the full data set, the most profitable enterprises included significantly greater numbers of organic producers. The most profitable tend to have a greater reliance on independent technical advice, but this finding is not statistically significant

Antecedents of Hotel Profitability: Empirical Evidence from Belgrade

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Miloš Milosavljević

2016-04-01

Full Text Available Tourism and hospitality have received an immense attention from scholars, policy holders, decision makers and other important stakeholders in Belgrade, a main tourist destination of Serbia. The aim of this paper is to determine the main drivers of profit margins in the hotel sector in Belgrade. A particular aim is to explore the effects of variables – size, market concentration, and market share and customer satisfaction – on hotel profit margins. The study analyzed the secondary reliable sources. The data were analyzed with correlations and regressions. The results indicate that customer perception is a paramount factor driving the financial performance of hotels. These findings could be useful to scholars and practitioners interested in business performances of Belgrade hotels.

Marginal likelihood estimation of negative binomial parameters with applications to RNA-seq data.

Science.gov (United States)

León-Novelo, Luis; Fuentes, Claudio; Emerson, Sarah

2017-10-01

RNA-Seq data characteristically exhibits large variances, which need to be appropriately accounted for in any proposed model. We first explore the effects of this variability on the maximum likelihood estimator (MLE) of the dispersion parameter of the negative binomial distribution, and propose instead to use an estimator obtained via maximization of the marginal likelihood in a conjugate Bayesian framework. We show, via simulation studies, that the marginal MLE can better control this variation and produce a more stable and reliable estimator. We then formulate a conjugate Bayesian hierarchical model, and use this new estimator to propose a Bayesian hypothesis test to detect differentially expressed genes in RNA-Seq data. We use numerical studies to show that our much simpler approach is competitive with other negative binomial based procedures, and we use a real data set to illustrate the implementation and flexibility of the procedure. © The Author 2017. Published by Oxford University Press. All rights reserved. For permissions, please e-mail: journals.permissions@oup.com.

Hospital financial management: what is the link between revenue cycle management, profitability, and not-for-profit hospitals' ability to grow equity?

Science.gov (United States)

Singh, Simone Rauscher; Wheeler, John

2012-01-01

Effective revenue cycle management--from appointment scheduling and patient registration at the front end of the revenue cycle to billing and cash collections at the back end--plays a crucial role in hospitals' efforts to improve their financial performance. Using data for 1,397 bond-issuing, not-for-profit US hospitals for 2000 to 2007, this study analyzed the relationship between hospitals' performance at managing the revenue cycle and their profitability and ability to build equity capital. Hospital-level fixed effects regression analysis was used to model four different measures of profitability and equity capital as functions of two key financial indicators of revenue cycle management--amount of patient revenue and speed of revenue collection. The results indicated that higher amounts of patient revenue in relation to a hospital's assets were associated with statistically significant increases in operating and total profit margins, free cash flow, and equity capital (p < 0.01 for all four models); that is, hospitals that generated more patient revenue per dollar of assets invested reported improved financial performance. Likewise, a statistically significant link existed between lower revenue collection periods and all four indicators of hospital financial performance (p < 0.01 for three models; p < 0.05 for one model). Hospitals that collected faster on their patient revenue reported higher profit margins and larger equity values. For revenue cycle managers, these findings represent good news: Streamlining a hospital's management of the patient revenue cycle can advance the organization's financial viability by improving profitability and enabling equity growth.

CSHURI - Modified HURI algorithm for Customer Segmentation and Transaction Profitability

OpenAIRE

Pillai, Jyothi; Vyas, O. P.

2012-01-01

Association rule mining (ARM) is the process of generating rules based on the correlation between the set of items that the customers purchase.Of late, data mining researchers have improved upon the quality of association rule mining for business development by incorporating factors like value (utility), quantity of items sold (weight) and profit. The rules mined without considering utility values (profit margin) will lead to a probable loss of profitable rules. The advantage of wealth of the...

Non-Profit Organizations in a Bureaucratic Environment

OpenAIRE

Grout, Paul; Schnedler, Wendelin

2008-01-01

How does the environment of an organization influence whether workers voluntarily provide effort? We study the power relationship between a non-profit unit (e.g. university department, NGO, health trust), where workers care about the result of their work, and a bu- reaucrat, who supplies some input to the non-profit unit, but has opportunity costs in doing so (e.g. Dean of faculty, corrupt representative, government agency). We find that marginal changes in the balance of power eventually hav...

Development of an activity-based costing model to evaluate physician office practice profitability.

Science.gov (United States)

Dugel, Pravin U; Tong, Kuo Bianchini

2011-01-01

Newer treatment regimens for age-related macular degeneration have significantly affected traditional and non-traditional retinal services across all types of practice settings around the country as they seek to find a balance among delivering best patient care, keeping operating costs under control, and maintaining profitability. A systematic retrospective review of a multi-city, multi-physician retinal practice's accounting system to obtain data on revenues, expenses, and profit. Data reviewed were from practice management systems to obtain claims level data on clinical procedures across 7 primary activity centers: non-laser surgery, laser surgery, office visits, optical coherence tomography (OCT), non-OCT diagnostics, drugs and drug injections, and research. All treated patients from a retina practice from January 1, 2005, to December 31, 2007. Retrospective claims data review from a multi-physician retina practice detailing Current Procedural Terminology and Healthcare Common Procedure Coding System procedures performed and billed, submitted charges, allowed charges, and net collections. Analyses were performed by an outside firm and verified by a risk advisory firm. Identifying practice efficiencies/inefficiencies as they relate to patient care. An elaborate analysis using activity-based costing (ABC) showed that increased office visits and OCT and non-OCT diagnostics had a significant negative impact on the practice's profit margins, whereas surgical procedures contributed to the majority of the practice's profit margins because of the lower operating costs associated with surgery. The practice was able to accommodate the demand in patient volume, medical retina services, and medical imaging with the advent of anti-vascular endothelial growth factor therapy and realized a seismic shift in operating costs. The practice attempted to deliver state-of-the-art patient care in a cost-effective manner, yet underwent a significant decline in its financial health

Non-profit Drug Research and Development at a Crossroads.

Science.gov (United States)

Jarosławski, Szymon; Toumi, Mondher; Auquier, Pascal; Dussart, Claude

2018-02-07

In wealthy nations, non-profit drug R&D has been proposed to reduce the prices of medicines. We sought to review the ethical and economic issues concerning non-profit drug R&D companies, and the possible impact that their pricing strategy may have on the innovation efforts from for-profit companies targeting the same segment of the pharmaceutical market. There are two possible approaches to pricing drugs developed by non-profit R&D programs: pricing that maximises profits and "affordable" pricing that reflects the cost of manufacturing and distribution, plus a margin that ensures sustainability of the drug supply. Overall, the non-profits face ethical challenges - due to the lack of resources, they are unable to independently commercialize their products on a large scale; however, the antitrust law does not permit them to impose prices on potential licensees. Also, reduced prices for the innovative products may result in drying the for-profit R&D in the area.

Profit Malmquist Index and Its Global Form in the Presence of the Negative Data in DEA

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Ghasem Tohidi

2014-01-01

Full Text Available This paper first introduces the allocative and profit efficiency in the presence of the negative data and then presents a new circular index to measure the productivity change of decision making units (DMUs for the case that the dataset contains the inputs and/or outputs with the negative values in data envelopment analysis (DEA. The proposed index is decomposed into four components in the two stages. The range directional model (RDM and the proposed efficiencies are used to compute the proposed index and its components. The interpretations of the components are presented. Finally, a numerical example is organized to illustrate the proposed index and its components at three successive periods of time.

A comparison of pay-as-bid and marginal pricing in electricity markets

Science.gov (United States)

Ren, Yongjun

This thesis investigates the behaviour of electricity markets under marginal and pay-as-bid pricing. Marginal pricing is believed to yield the maximum social welfare and is currently implemented by most electricity markets. However, in view of recent electricity market failures, pay-as-bid has been extensively discussed as a possible alternative to marginal pricing. In this research, marginal and pay-as-bid pricing have been analyzed in electricity markets with both perfect and imperfect competition. The perfect competition case is studied under both exact and uncertain system marginal cost prediction. The comparison of the two pricing methods is conducted through two steps: (i) identify the best offer strategy of the generating companies (gencos); (ii) analyze the market performance under these optimum genco strategies. The analysis results together with numerical simulations show that pay-as-bid and marginal pricing are equivalent in a perfect market with exact system marginal cost prediction. In perfect markets with uncertain demand prediction, the two pricing methods are also equivalent but in an expected value sense. If we compare from the perspective of second order statistics, all market performance measures exhibit much lower values under pay-as-bid than under marginal pricing. The risk of deviating from the mean is therefore much higher under marginal pricing than under pay-as-bid. In an imperfect competition market with exact demand prediction, the research shows that pay-as-bid pricing yields lower consumer payments and lower genco profits. This research provides quantitative evidence that challenges some common claims about pay-as-bid pricing. One is that under pay-as-bid, participants would soon learn how to offer so as to obtain the same or higher profits than what they would have obtained under marginal pricing. This research however shows that, under pay-as-bid, participants can at best earn the same profit or expected profit as under marginal

UTILITATEA ANALIZEI RELAŢIEI COST-VOLUM-PROFIT ÎN METODA DIRECT-COSTING PENTRU PROCESUL DECIZIONAL

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Nelea CHIRILOV

2016-12-01

Full Text Available În acest articol este analizată relaţia cost-volum-profit în scopul optimizării profitului şi fundamentării unor decizii economice optime. Sunt prezentate studii de caz metodologice menite să evidenţieze necesitatea indicatorilor: pragul de rentabilitate, marja de contribuţie, rezerva stabilităţii financiare, volumul vânzărilor necesar obţinerii profitului dorit, preţul marginal. Rezultatele obţinute sunt prezentate şi analizate de autori. Articolul se încheie cu concluziile autorilor privind avantajele oferite de calculele şi analizele ce pot fi efectuate pe baza relaţiei cost-volum-profit în metoda direct-costing pentru procesul decizional.THE UTILITY OF ANALYZING COST-VOLUME-PROFIT RELATIONSHIP THROUGH THE DIRECT-COSTING METHOD FOR DECISION MAKING PROCESSIn this article it is analyzed the cost-volume-profit relationship with the aim of profit optimization and elaboration of optimum economic decisions. The statement also reflects methodological case studies which highlight the necessity of the following indicators: break-even point, contribution margin, reserve of financial stability, sales volume required for obtaining target profit, marginal price. The results are presented and are analyzed by authors. The article ends up with the conclusions of the authors with regards to advantages provided by the calculations and analysis which can be performed on the basis of cost-volume-profit relationship through the direct-costing method for decision making process.

The impact of age and gender on resource utilization and profitability in ED patients seen and released.

Science.gov (United States)

Henneman, Philip L; Nathanson, Brian H; Ribeiro, Kara; Balasubramanian, Hari

2014-10-01

To determine how age and gender impact resource utilization and profitability in patients seen and released from an Emergency Department (ED). Billing data for patients seen and released from an Emergency Department (ED) with >100,000 annual visits between 2003 and 2009 were collected. Resource utilization was measured by length of stay (placement in ED bed to leaving the bed) and direct clinical costs (e.g., ED nursing salary and benefits, pharmacy and supply costs, etc.) estimated using relative value unit cost accounting. The primary outcome of profitability was defined as contribution margin per hour. A patient's contribution margin by insurance type (excluding self-pay) was determined by subtracting direct clinical costs from facility contractual revenue. Results are expressed as medians and US dollars. In 523 882 outpatient ED encounters, as patients' aged, length of stay and direct clinical cost increased while the contribution margin and contribution margin by hour decreased. Women of childbearing age (15-44) had higher median length of stay (2.1 hours), direct clinical cost ($149), and contribution margin per hour ($103/hour) than men of same age (1.7, $131, $85/hour, respectively). Resource utilization and profitability by gender were similar in children and adults over 45. Resource utilization increased and profitability decreased with increasing age in patients seen and released from an ED. The care of women of childbearing age resulted in higher resource utilization and higher profitability than men of the same age. No differences in resource utilization or profitability by gender were observed in children and adults over 45. Copyright © 2014 Elsevier Inc. All rights reserved.

Profitability Analysis of Selected Farms in the Batinah Region of Oman

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Slim Zekri

2007-01-01

Full Text Available The agricultural sector of Oman represents less than 2% of the total GDP and uses 88% of the fresh water. Several decision makers are questioning whether the agricultural activity in the Sultanate of Oman can be sustained and if so what type of crops should be encouraged. More than 53% of the agricultural cropped area is situated in the Batinah coastal area where farming is exclusively based on groundwater pumping. A sample of 49 market-oriented farms from the Batinah region was surveyed during 2006. Four types of farms were considered. Results showed that the most profitable farms are mixing fodder crops and vegetables with a net margin of 1,412 RO/ha/year. The less profitable farms are based on tree crops and vegetables with a net margin of 847 RO/ha/year. For vegetables the most profitable crop is tomato with an average net margin of 2,580 RO/ha/year with a standard deviation of 2,043 RO/ha/year and the least profitable crop is cabbage with 113 RO/ha/ year with a standard deviation of 182 RO/ha/year. The net margin of crops grown under drip irrigation is higher than that for crops under furrow irrigation, with a difference of 548 RO/ha/year. Farms equipped with such modern irrigation systems tend to irrigate almost the same area in winter as in summer, while farms under furrow irrigation crop less than one percent of their cropped area during summer compared to winter. Consequently and contrary to expectations, modern irrigation systems tend to increase, rather than reduce, groundwater pumping given the financial incentives for farmers to grow summer vegetables instead of only winter vegetables. Even so, the net water use efficiency is greater for vegetable production under drip irrigation than it is for fodder production. The figures show that, on average, farming in the Batinah is financially profitable for the types of farm considered in this study. However, profitability varies widely between different farms and crops. The reasons for

Business analytics of specialized medical biochemistry laboratory using profit and loss acount

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Vikica Buljanović

2011-07-01

Full Text Available Introduction. By measuring the actual effectiveness of a medical biochemistry laboratory’s business operations, we can determine the accounting measure of laboratory’s profitability, where operating expenses of the laboratory are covered by the income generated from the services. A laboratory’s financial report can be based on a profit and loss account, which shows whether or not a business entity, i.e., the laboratory, is making a profit during a particular business period. Methods. Profitability of the Specialized Medical Biochemical Laboratory (Laboratory of the General County Hospital in Našice, Croatia, was determined using the profit and loss account for 2007. Business success was expressed using the accounting measures of marginal contribution, gross income, and operating income, which could show whether or not the laboratory was operating profitably. This procedure allowed us to identify indicators of successful or unsuccessful business operations of the Laboratory. Results. According to the profit and loss account, the operating profit was 719,926 HRK, i.e., the operating margin was 11.7%, indicating that the Laboratory was operating positively. After subtracting all operating expenses per 100 income units, 11.7 units profit remained from the Laboratory’s core business. Conclusion. The Specialized Medical Biochemical Laboratory of the General County Hospital in Našice generated income, i.e., it operated at a profit. The purpose of profit and loss account was to determine the Laboratory operations that had impact on its business effectiveness and could increase the actual profitability. If the laboratory operates at a loss, and no activities are undertaken that would reverse the business toward positive, the analysis may provide information on the cost for the society as a whole of the studied laboratory within the existing healthcare system.

National Health Insurance, Profitability, and Service Quality: Case Study at the Private Hospital in West Java

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Andriyani Rahmah Fahriati

2018-02-01

Full Text Available National health insurance is one of the government programs to facilitate health services for the people. The purpose of this research to determine whether there are effects of National Health Insurance program (JKN on profitability and service quality at Juanda Kuningan Hospital, of West Java. The method using the paired-t-test to analyze the difference between before and after the National Health Insurance program. The result showed that there is a difference in profitability and service quality between pre and post the implementation of national health insurance program. Gross profit margin measured the profitability, net profit margin, return on total assets, and return on equity. This result means that the value of the company's profitability is better when the program JKN yet takes place in the Juanda hospital. While on the service quality variable it is found that the mean value is higher when the JKN program has conducted at the hospital.DOI: 10.15408/etk.v17i1.7064

Comparative Analysis of Profitability of Layers Production in Esan ...

African Journals Online (AJOL)

MICHAEL HORSFALL

KEY WORDS: Day old Chicks, Gross Margin, old layers, Point of lay, Profitability, Rate of return, Viability. ABSTRACT: This ... People depend on poultry for food and poultry farming serves as an additional ..... Wholesales Marketing of Tomato.

Is There a Trade-off Between Quality and Profitability in United States Nursing Homes?

Science.gov (United States)

Godby, Tyler; Saldanha, Sarah; Valle, Jazmine; Paul, David P; Coustasse, Alberto

Nursing home residents across the United States rely on quality care and effective services. Nursing homes provide skilled nurses and nursing aides who can provide services 24 hours a day for individuals who could not perform these tasks for themselves. Not-for-profit (NFP) versus for-profit (FP) nursing homes have been examined for utilization and efficacy; however, it has been shown that NFP nursing homes generally offer higher quality care and generate greater profit margins compared with FP nursing homes. The purpose of this research was to determine if NFP nursing homes provide enhanced quality care and a larger profit margin compared with FP nursing homes. Benefits and barriers in regard to financial stability and quality of care exist for both FP and NFP homes. Based on the findings of this review, it is suggested that NFP nursing homes have achieved higher quality of care because of a more effective balance of business aspects, as well as prioritizing resident well-being, and care quality over profit maximization in NFP homes.

The effects of Medicare Health Management Organizations on hospital operating profit in Florida.

Science.gov (United States)

Large, John T; Sear, Alan M

2005-02-01

Between 1992 and 1997, the number of members enrolled in Medicare Health Management Organizations (HMOs) nationwide in the USA more than doubled. During this period, managed care organizations wielded considerable influence over the health care of a large segment of the Medicare population in Florida. This study examined the impact on operational profit of 148 short-term, acute-care Florida hospitals in this period from Medicare HMO patients, as part of a hospital's payer mix. Three measures of hospital profitability were used: operating profit per actual bed, total operating profit with no adjustment for bed size, and operating margins. The multivariate statistical model employed in this study was a linear mixed model with an autoregressive order one (AR[1]) parametric structure on the covariance matrix. The results of the study indicate that Florida hospitals experienced greater profit pressures from Medicare HMO inpatients than from traditional Medicare inpatients. Further, these hospitals could have experienced positive profit effects with greater traditional Medicare participation and negative financial effects with greater Medicare HMO participation. Additionally, Medicare HMO patients appear to have been admitted to hospitals in worse health condition than those in traditional Medicare. Medicare HMO patients were more likely to have used emergency rooms as the source of admission than traditional Medicare patients. Also, Medicare HMO patients were more likely to have been admitted as emergent cases than traditional Medicare patients. Other research has shown that Medicare HMO patients, at the time of enrolment, are probably healthier than traditional Medicare enrollees, but here they appear to have been admitted to hospitals with higher levels of severity of illness. Explanations are offered for these findings.

Ownership concentration and bank profitability

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Peterson Kitakogelu Ozili

2017-12-01

Full Text Available We investigate whether ownership concentration influences bank profitability in a developing country context. We focus on bank ownership concentration measured as the amount of direct equity held by a majority shareholder categorised into: high ownership concentration, moderate ownership concentration and disperse ownership. We find that banks with high ownership concentration have higher return on assets, higher net interest margin and higher recurring earning power while banks with dispersed ownership have lower return on assets but have higher return on equity. Also, higher cost efficiency improves the return on assets of widely-held banks and the return on equity of banks with moderate ownership. The findings have implications. JEL: Code: G3, G34, G31, Keywords: Corporate governance, Ownership structure, Agency theory, Profitability, Firm performance, Banks, Return on asset, Return on equity

Profitability analysis of broiler production in rawalpindi district

International Nuclear Information System (INIS)

Mohsin, A.Q.; Riaz, M.; Mushtaq, A.

2008-01-01

The present study was conducted in Rawalpindi District to evaluate the profitability of different Broiler farm sizes. Poultry farms were categorized into large, medium and small farms, Different efficiency measure such as net present worth, whole farm budget, marginal rate of return were applied. It was found that cost of production was high in small farm category. Small farmer buy feeds on credit basis and therefore, lose 8 percent concession on cash payment. The cost of medium farmer was lower as compared to small farmer. Benefit cost ratio of medium and large farmer was greater then one which indicate that they were earning profit on their investment. More economic incentive was found in increasing the farm size from small to medium as compared to medium to large as marginal rate of return were greater in former case. Efficient extension services were lacking in the study area. Extension activities can play a vital role in improving the poultry farming practices particularly for small farmers. (author)

The Profit-Maximizing Firm: Old Wine in New Bottles.

Science.gov (United States)

Felder, Joseph

1990-01-01

Explains and illustrates a simplified use of graphical analysis for analyzing the profit-maximizing firm. Believes that graphical analysis helps college students gain a deeper understanding of marginalism and an increased ability to formulate economic problems in marginalist terms. (DB)

Let the bleeding begin: rising costs are starting to crush oilpatch profits

International Nuclear Information System (INIS)

Koch, G.

1997-01-01

Reasons for the increase in the cost and decrease in profits in the oil industry were investigated. The most likely cause for the cost increase and hence the diminishing profit margin, was identified as a simple supply and demand increase in the cost of exploration and drilling: seismic crews, drilling rigs, well servicing and labour have all increased by an average of some 10 per cent as a result of the heavy demand for these services to support the growth that companies seek. Concentrated ownership in the drilling sector is partially to blame. A severe shortage of skilled labour, and an increase in land prices are some of the other possible causes. While some industry observers expect the worst, others are confident that gradually falling profits will prompt a market correction. The tightening of investment capital will slow down rates of drilling and land acquisition, gradually easing prices downward. Volume contracting ahead of time, booking seismic crews and rigs for an entire season at a fixed cost, and technological improvements also offer hope of forcing costs down. Heavy investment by industry majors in new oilsands and heavy oil developments is yet another promise of maintaining profit margins in the oil patch while reducing the industry''s reliance on conventional light crude

Profit-Sharing – A Tool for Improving Productivity, Profitability and Competitiveness of Firms?

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Fibirova Jana

2013-12-01

Full Text Available The importance of appropriate utilization of rewards for performance is still growing and therefore this type of rewards can be seen as a significant part of a total rewards package. Companies that are able to appropriately implement rewards for performance may gain competitive advantage over their competitors, but successful implementation requires a good knowledge of these rewards. The main aim of this paper is to contribute to the growth of this knowledge by identifying possible positive and negative impacts of profit-sharing on various areas that are important for the performance of a company, nevertheless, addressed are also macroeconomic consequences of profit-sharing. Furthermore, a comprehensive and up-to-date review of the relevant literature is provided, under-researched areas are identified and suggestions for further research are given. To accomplish these goals, we applied methods of bibliometric analysis to the articles indexed in ISI Web of Knowledge to identify the most important articles, authors and topics. According to our findings, the majority of studies report a neutral or positive impact of profit-sharing on productivity and profitability. This impact may be achieved by direct influence of profit-sharing on productivity of employees (due to the dependence of their pay on profit, but it seems that yet more important are various mediating mechanisms, especially effects on employment stability, absenteeism, quits and related issues, as well as effects on attitudes of employees and on relationships between employees. We argue that a well-designed profit-sharing plan is crucial for its success, but it is a relatively under-researched problem.

On using an efficiency matrix in analysing profit per employee (on the basis of the Estonian SME software sector 

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Paavo Siimann

2015-11-01

Full Text Available Service companies earn their profit mainly due to their employees’ intellectual skills, therefore, increasing profit per employee is one opportunity to increase profit and thereby also the company’s market value. In this article the number of employees, the value of owners’ equity and loan capital, operating expenses, net sales and profit before income tax have been used to analyse the change in profit per employee of the Estonian software small and medium-sized enterprise (SME sector in total, and for small and medium-sized companies separately in the years 2009–2013. Furthermore, this article demonstrates that the efficiency matrix methodology and its developments that were refined in Estonia and Russia from the 1960s to the 1990s can be deployed nowadays as well. Of all the components, profit margin and owners’ equity per employee showed the most rapid growth during the analysed period. Profit per employee was higher in the small enterprises segment and lowest among medium-sized enterprises, where owners’ equity per employee, net sales to operating expenses, and profit margin were lower than in small enterprises over the whole period analysed.

Role of 10-Gy boost radiation after breast-conserving surgery for stage I-II breast cancer with a 5-mm negative margin

International Nuclear Information System (INIS)

Notani, Masafumi; Uchida, Nobue; Kitagaki, Hajime

2007-01-01

According to the Guidelines for breast-conserving therapy of the Japanese Breast Cancer Society, the surgical margin is ''negative'' when the minimum distance between the tumor edge and the margin of the resected specimen is more than 5 mm. The value of boost radiation for early breast cancer with a 5-mm negative margin remains unclear. A total of 137 patients with stage I-II breast cancer underwent breast-conserving surgery between July 1987 and August 2002. All of the patients had negative margins according to the Japanese guidelines. Their median age was 50 years and the median follow-up period was 62 months. The entire ipsilateral breast was irradiated to a total dose of 50 Gy (25 fractions). Then an additional 10 Gy (5 fractions) was given to 79 patients, using 6- to 12-MeV electrons (boost group), while 58 patients (no-boost group) received no further radiation. Factors influencing local recurrence were evaluated by univariate and multivariate analyses. For the entire population, the 5-year overall survival, cause-specific survival, disease-free survival, and local recurrence rates were 96.0%, 96.8%, 94.2%, and 1.67%, respectively. Boost radiation reduced local recurrence, but the improvement was not significant (P=0.070). Univariate and multivariate analyses failed to detect any factors that were significantly associated with local control. There were no severe complications in either group and there were no differences between the groups in the cosmetic outcome. Boost radiation can be performed for stage I-II breast cancer with negative margins (Japanese guidelines), and showed a tendency to decrease local recurrence. A large randomized controlled study is necessary to establish final conclusions. (author)

PROFIT AND LOSS ACCOUNT – SYNTHETIC EXPRESSION OF ABSOLUTE RETURN

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MIRON VASILE CRISTIAN IOACHIM

2017-08-01

Full Text Available This study has as main objective the presentation of the current state of knowledge regarding the profit and loss account as part of the financial statements which express in absolute value the profitability of companies and the empirical analysis of these concepts based on the information submitted by OMV Petrom between 2011 and 2015. Thus, in the first part we present several approaches from the specialized literature regarding the aspects mentioned above. The second part follows a vertical and horizontal analysis of key indicators used for measuring the absolute return. For the horizontal analysis we pursued the evolution in time of the following indicators: Gross Margin, Earnings Before Interest and Taxes (EBIT, Financial Result, Gross and Net Result. The vertical analysis aimed to explain the formation of the Gross Result via EBIT (which was also analyzed through the Gross Margin and other specific elements and of the Financial Result (which was also analyzed through the different types of financial income and expenses. The results of the study revealed problems of profitability in the years 2014 and 2015 which, in our opinion, can be attributed to poor management of the commercial activity, exploration activity (research and development, distribution and financial activity.

Topsoil thickness and harvest management influence switchgrass production and profitability

Science.gov (United States)

Switchgrass (Panicum virgatum L.) is an attractive dual use forage and/or biomass crop option for eroded or marginal soils where corn (Zea mays L.) grain production often is not profitable. Topsoil thickness, especially above soils with a claypan, relates to crop productivity and nutrient removal an...

Domestic and Foreign Banks’ Profitability: Differences and Their Determinants

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Muhammad AZAM

2012-01-01

Full Text Available The purpose of this study to analyze and compare the profitability of domestic (Public & Private and foreign banks operating in the Pakistan Banking market between 2004 and 2010 on quarterly basis. Total 36 Commercial Banks of Pakistani Industry have represented our sample. To control for the effect of bank ownership on performance, we split the sample into three categories: (1 domestic banks with Government Control, (2 domestic banks with Private control, and (3 foreign banks. This study also finds that foreign banks are more profitable than all domestic banks regardless of their ownership structure by applying regression analysis. This may suggest that it is better for a multinational bank to establish a subsidiary/branch rather than acquiring an “existing player” in the host country. We also found that domestic and foreign banks have different profitability determinants, i.e. factors that are important in shaping domestic banks’ profitability are not necessary important for the foreign banks and vice versa. Empirical results show that foreign banks are less affected by the macroeconomic factors of the host country than domestic banks and they have a higher profitability margin in Pakistan.

Oil price scenarios and refining profitability

International Nuclear Information System (INIS)

Sweeney, B.

1993-01-01

Currently refining profitability is low because there has been an overbuilding of conversion capacity in Western Europe in the last round. Oil marketing, the chemicals business and the fundamental economy itself are at low points in their cycles which have not coincided, at least in the UK, since 1975. Against that gloomy background, it is predicted that downstream profitability will recover in the mid-1990s. Crude oil prices will remain low until the call on OPEC crude increases again and takes up the capacity which has been brought on stream in response to the Gulf War. When this happens, it is likely to trigger another price spike and another round of investment in production capacity. Environmentally driven investments in desulphurisation or emissions reduction will be poorly remunerated all the way through the value chain. Refining margins will recover when white oil demand growth tightens up the need for conversion capacity. Marketing will need to reduce the retail network overcapacity in the mature markets if it is to improve its profitability. In this period of low profitability, even with the light at the end of the tunnel for refiners in the middle of the decade, the industry structure is under threat. There is a strong argument for new modes of competitive behaviour which are backed by strong elements of cooperation. (author)

Pengaruh Debt to Equty Ratio, Current Ratio , Net Profit Margin Terhadap Harga Saham dengan Price Earning Ratio Sebagai Variabel Pemoderasi pada Perusahaan Manufaktur yang Terdaftar di BEI Periode 2012-2014

OpenAIRE

Theresia, Paskah Lia

2017-01-01

This study conducted to analyze the effect of variable Debt to Equity Ratio (DER), Current Ratio (CR), Net Profit Margin (NPM) andPrice Earnings Ratio (PER) to the Stock Prices with Price Earnings Ratio (PER) as an moderating variable on companies listed on Indonesian Stock Exchange from 2012 - 2014.The samplingtechnique used is purposive sampling and number of samples used by 23 companies. The analysis technique used are Descriptive Statistic Analysis, Classical Assumption Test, Hypothesis T...

Growth and profitability in small privately held biotech firms: preliminary findings.

Science.gov (United States)

Brännback, Malin; Carsrud, Alan; Renko, Maija; Ostermark, Ralf; Aaltonen, Jaana; Kiviluoto, Niklas

2009-06-01

This paper reports on preliminary findings on a study of the relationship of growth and profitability among small privately held Finnish Life Science firms. Previous research results concerning growth and profitability are mixed, ranging from strongly positive to a negative relationship. The conventional wisdom states that growth is a prerequisite for profitability. Our results suggest that the reverse is the case. A high profitability-low growth biotech firm is more probably to make the transition to high profitability-high growth than a firm that starts off with low profitability and high growth.

THE INFLUENCE OF LIQUIDITY ON PROFITABILITY OF POLISH CONSTRUCTION SECTOR COMPANIES

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Monika Bolek

2012-04-01

Full Text Available The concept of financial liquidity is not very straight, as it has various aspects, although generally it refers to the current assets and liabilities management. Financial liquidity together with profitability are the core categories of enterprise activities which, in order to function efficiently, the company should treat as equally important. The growth of financial liquidity may negatively influence the company profitability. If the company is to liquid in the static sense than it will affect negatively the profitability since some capital will be frozen in current assets. In this article, the authors analyze theoretical aspects of the relation between liquidity and profitability, whereas the empirical part they examine this interdependence on a group of construction sector companies listed on Warsaw Stock Exchange.

Estimation of future levels and changes in profitability: The effect of the relative position of the firm in its industry and the operating-financing disaggregation

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Borja Amor-Tapia

2014-01-01

Full Text Available In this paper we examine how the relative position of a firm's Return on Equity (ROE in industries affects the predictability of the next-year ROE levels, and the ROE changes from year to year. Using Nissim and Penman breakdown into operating and financing drivers, the significant role of the industry factor is established, although changes in signs suggest subtle non-linear relations in the drivers. Our study avoids problems originating from negative signs by analyzing sorts and by making new regressions with disaggregated second-order drivers by signs. This way, our results provide evidence of some different patterns in the influence of the first-level drivers of ROE (the operating factor and the financing factor, and the second-level drivers (profit margin, asset turnover, leverage and return spread on future profitability, depending on the industry spread. The results on the role of contextual factors to improve the estimation of future profitability remain consistent for small and large firms, although adding some nuances.

The costs and profitability of heat-energy entrepreneurship

International Nuclear Information System (INIS)

Solmio, H.

1998-01-01

Heat-energy entrepreneurs are responsible for the supply of fuel to and the labour input required by heating of buildings in their locality. An individual heat-energy entrepreneur or a consortium of them, a company or a co-operative is paid for the work according to the amount of heat-energy produced. In Finland there are about 50 operational heating targets and about 100 in planning stage. TTS-Institute has studied the activities of heat-energy entrepreneurs since 1993 in connection with research projects included in the national Bioenergy research programme. This study covered 10 heating plants with capacities 60 - 1000 kW, two of which are district heating plants. Five of the targets (60 - 370 kW) were included in the previous heat-energy entrepreneurs follow-up study conducted in 1993 - 1995 and five (80 - 1000 kW) were new. The main fuel used in all the targets was wood chips with light fuel oil reserve or auxiliary fuel. All but one of the entrepreneurs, supplying these heating targets located in Central and Southern Finland, are farmers, who procure the fuelwood and take care of heating and its supervision. Transportation of wood chips, topping up of the silo and heating work and working path consumed 0.12-0.78 h of time/MWh. When compared to the five study targets' follow-up results of the years 1993 - 1995, the results of the present study show reduction in labour consumption on part of the heat-energy entrepreneurs in all these targets. Profit margins of the entrepreneurs supplying heating energy were 73 - 132 FIM/h (excluding the interest on the equipment acquisition (agricultural tractor and associated equipment), and insurance and storage costs). When these costs were also taken into account, the resulting profit margin was 71 - 127 FIM/h. The margin included the entrepreneurs' earnings incl. monitoring of the heating plant, social security costs connected to earnings and entrepreneur's risk. When compared to the previous follow-up study, also the

The determinants of Bank Profitability: Does Liquidity Creation matter?

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Ahmad Sahyouni

2018-02-01

Full Text Available Using a panel data set of 4995 banks across 11 developed and emerging countries during the period (2011-2015, this report analyses the amount of liquidity created by banks, how liquidity creation, bank-specific and the macroeconomic factors affecting bank profitability. The results show evidence of increased creation of liquidity over the period. By applying the panel data fixed effect technique, banks that create more liquidity, are set up to have lower profitability. As well as, Asset management, bank size and capital ratio are positively correlated with bank profitability. While, credit quality and operating efficiency affect bank’s profits negatively. Additionally, macroeconomic factors have different impact on profitability indicators in each market. Our findings may help decision makers inside and outside bank to determine important factors affecting bank profitability.

Effect of castration on performance and profitability of finishing cattle in rent feedlot

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Marcos Aurélio Lopes

2011-01-01

Full Text Available Effects of castration on performance and profitability of finishing beef cattle in feedlot was evaluated and compared to no-castrated animals. Data came from a rent feedlot of beef cattle, conducted from August to November of 2005. Half of 50 animals, randomly chosen, were castrated by knife 18 days before the beginning of feedlot. Averages of initial body weight for castrated and no-castrated animals were 341kg and 347kg, while for final body weight were 437kg and 463kg, respectively. Were considered as expenses arroba value of thin cattle (R$50.00, and R$2.85 daily expenses per animal paid by cattle owner to “boitel”; and were considered as earnings sale of fat cattle at R$56.14 and R$54.14/arroba, respectively for castrated and no-castrated animals. For profitability analysis, CU$TO BOVINO CORTE software was utilized. Was tested the mean differences between castrated and intact groups by Student t test of average daily weight gains (GMPD and total weight gain (GMPT. Was acceptable the minimum level of confidence of 95%. Statistical analysis was performed in SPSS 17.0 program. Effect of castration negatively influenced animals´ performance, evaluated by weight gain, and, consequently profitability of the system, evaluated by net margin. Earnings from sale of additional arrobas of no-castrated animals were enough to compensate penalization practiced by packinghouses for these animals.

Pengaruh Profitability Dan Investment Opportunity Set Terhadap Dividen Tunai Pada Perusahaan Terbuka Di Bursa Efek Jakarta

OpenAIRE

Sadalia, Isfenti; Saragih, Nurul Sari Syafitri

2010-01-01

The purpose of the research is to examine the influence of the profitability which is consists of the Return On Equity (ROE) and Net Profit Margin (NPM), and Investment Oppurtunity Set (IOS) which is consists of Market to Book Value of Assets (MVA/BVA), dan Property,Plant & Equipment to the Book Value of Assets(PPE/BVA) to Cash Dividend in Go Public Company as listing at Indonesian Stock Exchange. The result of research indicate that the the profitability which is consists of the Return On...

The effect of repair costs on the profitability of a ureteroscopy program.

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Tosoian, Jeffrey J; Ludwig, Wesley; Sopko, Nikolai; Mullins, Jeffrey K; Matlaga, Brian R

2015-04-01

Ureteroscopy (URS) is a common treatment for patients with stone disease. One of the disadvantages of this approach is the great capital expense associated with the purchase and repair of endoscopic equipment. In some cases, these costs can outpace revenues and lead to an unprofitable and unsustainable enterprise. We sought to characterize the profitability of our URS program when accounting for endoscope maintenance and repair costs. We identified all URS cases performed at a single hospital during fiscal year 2013 (FY2013). Charges, collection rates, and fixed and variable costs including annual equipment repair costs were obtained. The net margin and break-even point of URS were derived on a per-case basis. For 190 cases performed in FY2013, total endoscope repair costs totaled $115,000, resulting in an average repair cost of $605 per case. The vast majority of cases (94.2%) were conducted in the outpatient setting, which generated a net margin of $659 per case, while inpatient cases yielded a net loss of $455. URS was ultimately associated with a net positive margin approaching $600 per case. On break-even analysis, URS remained profitable until repair costs reached $1200 per case. Based on these findings, an established URS program can sustain profitability even with large equipment repair costs. Nonetheless, our findings serve to emphasize the importance of controlling costs, particularly in the current setting of decreasing reimbursement. A multifaceted approach, based on improving endoscope durability and exploring digital and disposable platforms, will be critical in maintaining the sustainability of URS.

Not-for-profit hospital CEO performance and pay: some evidence from Connecticut.

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Kramer, Jeffrey; Santerre, Rexford E

2010-01-01

This paper uses observations from a panel data set of 35 chief executive officers (CEOs) from 29 not-for-profit hospitals in Connecticut over the period 1998 to 2006 to investigate the relationship between CEO performance and pay. Both economic and charity performance measures are specified in the empirical model. The multiple regression results reveal that not-for-profit hospital CEOs, at least in Connecticut, are driven at the margin to increase the occupancy rate of privately insured patients at the expense of uncompensated care and public-pay patients. This type of behavior on the part of not-for-profit hospital CEOs calls into question the desirability of allowing these hospitals a tax exemption on earned income, property, and purchases.

Thinking on the Margin: A Classroom Experiment

Science.gov (United States)

Bangs, Joann

2009-01-01

One of the most important concepts being taught in principles classes is the idea of "thinking on the margin." It can also be one of the most difficult to get across. One of the most telling examples, according to this author, comes in trying to get students to learn the profit maximizing condition for perfectly competitive firms. She…

LANDRACE MAIZE: AN ALTERNATIVE FOR FIELD PROFITABILITY MILHO CRIOULO: UMA ALTERNATIVA PARA RENTABILIDADE NO CAMPO

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César Augusto Sandri

2008-03-01

Full Text Available

In recent times corn cropping has been discredited by Brazilian farmers due to its low profitability. A possible solution for this problem may be in a kind of agriculture based in traditional agronomic principles. The landrace maize, a race of great genetic variability and high rusticity, makes possible to obtain profitable yields in a system that ranges from medium to low technology input. The objective of this study was to evaluate the productivity and profitability of a landrace maize, in Cerrado conditions, in Mineiros (Goiás State, Brazil. The sowing was carried out on December 12th, 2005, and the harvest on May 14th, 2006. The parameters evaluated were grain yield, percentage of impurities, humidity, and rotten grains. The landrace maize average yield obtained in this research was 4,742 kg ha-1, with a profitability of 112%. Considering its low production cost, this race of maize can be characterized as an option for agriculture under a low input level.

KEY-WORDS: Rusticity; profitability; production cost.

A cultura do milho vem sofrendo, nos últimos tempos, desprestígio perante os agricultores brasileiros, devido, principalmente, à sua baixa rentabilidade. Uma solução para esse problema talvez esteja em uma agricultura embasada em princípios agronômicos tradicionais. O milho crioulo, raça de grande variabilidade gen

An Insight Into the Two Costing Technique: Absorption Costing and Marginal Costing

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Mariam Nawaz

2013-02-01

Full Text Available This paper will investigate the controversy that is innate between the two costing techniques; Absorption Costing and Marginal Costing and would throw light on which costing technique better serves its purpose in helping management for decision making process and if Marginal Costing technique is concluded as better technique then why it should not be used for external reporting purpose. This paper will only crystallize and highlight the issues descriptively and will not resolve the issues that are inherent between the two costing techniques. The unique thing about this paper is that it is in favor of treating fixed cost as product cost that is it is supporting the advocates of Absorption Costing Technique but it is against to consider profit as a function of production rather it believes that profit should only be considered as function of sales for stock valuation and to help management in decision making process that is, regarding this point it is supporting advocates of Marginal Costing.

Profitability and Efficiency of Red Onion Farming

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Imron Rosyadi

2014-12-01

Full Text Available The purpose of this research is to determine and analyze the profitability and performance of onion farming marketing margins; analyze and know the parts of prices received by farmers and analyze the efficiency of onion farming in the district of Brebes. Samples taken in this study is 30 onion farmers in the district of Brebes, who settled in six villages, each village was taken 5 farmers as the research sample. These results indicate that the location of onion farming research does not provide benefits significantly to the household economy of farmers. Higher selling prices at the retail level and supermarkets do not have a significant impact on the level of profits of farming in the study area. Farming is done by farmers in the study area is inefficient. Onion marketing chain in the study area is relatively long, which consists of 4 lines of marketing.

Charity care: do not-for-profits influence for-profits?

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Clement, Jan P; White, Kenneth R; Valdmanis, Vivian

2002-03-01

This study further examines whether not-for-profit hospitals exert pressure on for-profit hospitals to provide charity care and whether for-profit hospitals react differently than not-for-profit hospitals to managed care pressures and hospital competition in providing charity care. A two equation model is estimated using 1996 data from California hospitals. The results indicate that in mixed ownership markets, for-profit hospitals provide significantly less charity care as not-for-profit hospitals in the market provide more. Unexpectedly, study for-profit hospitals were not more influenced by price competition than other hospitals with respect to charity care. Having a unique role in providing charity care may justify continuing tax exemption for not-for-profit hospitals and enhance interest in payment and other policies with regard to conversions to ensure that not-for-profit hospitals continue to be represented in market areas.

Marginal and happy? The need for uniqueness predicts the adjustment of marginal immigrants.

Science.gov (United States)

Debrosse, Régine; de la Sablonnière, Roxane; Rossignac-Milon, Maya

2015-12-01

Marginalization is often presented as the strategy associated with the worst adjustment for immigrants. This study identifies a critical variable that buffers marginal immigrants from the negative effects of marginalization on adjustment: The need for uniqueness. In three studies, we surveyed immigrants recruited on university campuses (n = 119, n = 116) and in the field (n = 61). Among marginal immigrants, a higher need for uniqueness predicted higher self-esteem (Study 1), affect (Study 2), and life satisfaction (Study 3), and marginally higher happiness (Study 2) and self-esteem (Study 3). No relationship between the need for uniqueness and adjustment was found among non-marginal immigrants. The adaptive value of the need for uniqueness for marginal immigrants is discussed. © 2015 The British Psychological Society.

Merkel cell tumor of the skin treated with localized radiotherapy: are widely negative margins required?

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David Parda

2011-03-01

Full Text Available Merkel’s cell carcinoma is a rare cutaneous tumor that can affect a wide variety of sites throughout the body. Commonly, it affects the skin alone and the management of limited disease can be confusing since the natural history of the disease involves distant metastasis. Traditional management has required wide local excision with negative margins of resection. We describe a case treated with local therapy alone and review the literature to suggest that complete microscopic excision may not be required if adjuvant radiotherapy is used.

Higher US crop prices trigger little area expansion so marginal land for biofuel crops is limited

International Nuclear Information System (INIS)

Swinton, Scott M.; Babcock, Bruce A.; James, Laura K.; Bandaru, Varaprasad

2011-01-01

By expanding energy biomass production on marginal lands that are not currently used for crops, food prices increase and indirect climate change effects can be mitigated. Studies of the availability of marginal lands for dedicated bioenergy crops have focused on biophysical land traits, ignoring the human role in decisions to convert marginal land to bioenergy crops. Recent history offers insights about farmer willingness to put non-crop land into crop production. The 2006-09 leap in field crop prices and the attendant 64% gain in typical profitability led to only a 2% increase in crop planted area, mostly in the prairie states. At this rate, a doubling of expected profitability from biomass crops would expand cropland supply by only 3.2%. Yet targets for cellulosic ethanol production in the US Energy Independence and Security Act imply boosting US planted area by 10% or more with perennial biomass crops. Given landowner reluctance to expand crop area with familiar crops in the short run, large scale expansion of the area in dedicated bioenergy crops will likely be difficult and costly to achieve. - Highlights: → Biofuel crops on cropland can displace food crops, reducing food supply and triggering indirect land use. → Growing biofuel crops on non-crop marginal land avoids these problems. → But US farmers expanded cropland by only 2% when crop profitability jumped 64% during 2006-09. → So medium-term availability of marginal lands for biofuel crops is limited and costly.

The Profitability Analysis of PT. Garuda Indonesia (Persero) Tbk. Before and After Privatization

Science.gov (United States)

Nurasiah, I.; Anggara

2017-03-01

This study purposes to determine differences in the profitability of PT. Garuda Indonesia (Persero) Tbk. before and after privatization using Net Profit Margin (NPM), Return on Investmen (ROI) and Return on Equity (ROE). This research used a case study method with a qualitative approach. The data used are secondary data from official financial statements of PT. Garuda Indonesia (Persero) Tbk. periode 2008-2013, 3 years before privatization and 3 years after privatization. Data analysis was performed by reviewing the financial statement data, calculate & determine the value of profitability ratios before and after privatization, and determine the amount of the average difference before and after privatization. The result proved that the average ratio of profitability calculated by applying NPM, ROI and ROE in every year shows a decrease that caused imbalance components forming of NPM, ROI, ROE, where profit is getting down while the selling, total assets and equity increase more and more from the previous period. The implication for the next research is a research that focus on determine how long a company can emerged from the crisis by privatization decision.

Financial performance, employee well-being, and client well-being in for-profit and not-for-profit nursing homes: A systematic review.

Science.gov (United States)

Bos, Aline; Boselie, Paul; Trappenburg, Margo

Expanding the opportunities for for-profit nursing home care is a central theme in the debate on the sustainable organization of the growing nursing home sector in Western countries. We conducted a systematic review of the literature over the last 10 years in order to determine the broad impact of nursing home ownership in the United States. Our review has two main goals: (a) to find out which topics have been studied with regard to financial performance, employee well-being, and client well-being in relation to nursing home ownership and (b) to assess the conclusions related to these topics. The review results in two propositions on the interactions between financial performance, employee well-being, and client well-being as they relate to nursing home ownership. Five search strategies plus inclusion and quality assessment criteria were applied to identify and select eligible studies. As a result, 50 studies were included in the review. Relevant findings were categorized as related to financial performance (profit margins, efficiency), employee well-being (staffing levels, turnover rates, job satisfaction, job benefits), or client well-being (care quality, hospitalization rates, lawsuits/complaints) and then analyzed based on common characteristics. For-profit nursing homes tend to have better financial performance, but worse results with regard to employee well-being and client well-being, compared to not-for-profit sector homes. We argue that the better financial performance of for-profit nursing homes seems to be associated with worse employee and client well-being. For policy makers considering the expansion of the for-profit sector in the nursing home industry, our findings suggest the need for a broad perspective, simultaneously weighing the potential benefits and drawbacks for the organization, its employees, and its clients.

How is Size Related to Profitability? Post-Consolidation Evidence from Selected Banks in Nigeria

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Funso T. Kolapo

2016-10-01

Full Text Available It is theoretically believed that increase in firm size would result to increase in firm profitability. Therefore, this study examines the relationship between size and profitability of six banks in Nigeria after the 2005 consolidation exercise. The measure of profitability is return on assets. Employing the static panel data regression method, the study found that size has an insignificant negative relationship with bank profitability. This study concludes that the 2005 consolidation exercise did not enhance the profitability of the selected banks.

Choose profit over market share: Profit-oriented competitive strategies in contested markets

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Bilstein Frank

2007-01-01

Full Text Available If there was ever an eye-opening moment for us concerning the topic of competitive strategy, then it was this: In the summer of 2003 we presented the CEO of a world-renowned public company with a sophisticated strategy that would secure its path towards profitable growth. She waited with growing impatience for the end of the presentation to crush six months of work with one sentence: "That's all very well and good. But I want to destroy my competitors!" Our objections undoubtedly earned a place in the company's history, but ultimately we failed. Three years have passed since then - three years in which the company has drastically reduced its formerly attractive margins in numerous important markets. And despite strong attacks, the company has not succeeded in ousting even one competitor from its relevant markets.

Positive Surgical Margins in Favorable-Stage Differentiated Thyroid Cancer.

Science.gov (United States)

Mercado, Catherine E; Drew, Peter A; Morris, Christopher G; Dziegielewski, Peter T; Mendenhall, William M; Amdur, Robert J

2018-04-16

The significance of positive margin in favorable-stage well-differentiated thyroid cancer is controversial. We report outcomes of positive-margin patients with a matched-pair comparison to a negative-margin group. A total of 25 patients with classic-histology papillary or follicular carcinoma, total thyroidectomy +/- node dissection, stage T1-3N0-1bM0, positive surgical margin at primary site, adjuvant radioactive iodine (I-131), and age older than 18 years were treated between 2003 and 2013. Endpoints were clinical and biochemical (thyroglobulin-only) recurrence-free survival. Matched-pair analysis involved a 1:1 match with negative-margin cases matched for overall stage and I-131 dose. Recurrence-free survival in positive-margin patients was 71% at 10 years. No patient was successfully salvaged with additional treatment. Only 1 patient died of thyroid cancer. Recurrence-free survival at 10 years was worse with a positive (71%) versus negative (90%) margin (P=0.140). Cure with a microscopically positive margin was suboptimal (71%) despite patients having classic-histology papillary and follicular carcinoma, favorable stage, and moderate-dose I-131 therapy.

Evaluating Bank Profitability in Ghana: A five step Du-Pont Model Approach

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Baah Aye Kusi

2015-09-01

Full Text Available We investigate bank profitability in Ghana using periods before, during and after the globe financial crises with the five step du-pont model for the first time.We adapt the variable of the five step du-pont model to explain bank profitability with a panel data of twenty-five banks in Ghana from 2006 to 2012. To ensure meaningful generalization robust errors fixed and random effects models are used.Our empirical results suggests that bank operating activities (operating profit margin, bank efficiency (asset turnover, bank leverage (asset to equity and financing cost (interest burden  were positive and significant determinants of bank profitability (ROE during the period of study implying that bank in Ghana can boost return to equity holders through the above mentioned variables. We further report that the five step du-pont model better explains the total variation (94% in bank profitability in Ghana as compared to earlier findings suggesting that bank specific variables are keen in explaining ROE in banks in Ghana.We cited no empirical study that has employed five step du-pont model making our study unique and different from earlier studies as we assert that bank specific variables are core to explaining bank profitability.                

Supplier Contribution to Profit Calculation and Supplier’s Expense Levels

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Danilo Dorović

2015-05-01

Full Text Available Suppliers of goods present a very important cost object for trading companiessuch as retail. There is, however, no theoretical explanation as to how to calculate a contribution to profits generated from an individual supplier. This calculation is the subject of the paper. There is no calculation that shows how goods, provided from the supplier, create profit through gross margin and how the supplier`s behavior influences the costs (like delivery terms, costs of keeping specific goods fresh…. The final costs further decrease the profit generated by suppliers. As they have long found it illogical to calculate contribution to profit from suppliers in a production company, trading companies have long ignored it, as well. The Activity Based Costing (ABC, as the up-to-date system, still does not possess the cost hierarchy for suppliers as the cost object. The aim of the paper is to present a proposal for creating the cost hierarchy for suppliers in a trade company through creating a theoretical financial model as a method. The model also offers a theoretical explanation of how to calculate the contribution from a supplier or a group of suppliers. It is based on empirically evident activities in any supermarket or hypermarket, which makes it possible to create explanatory theoretical research.

Macroeconomic and industry-specific determinants of Greek bank profitability

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Zampara, K.

2017-03-01

Full Text Available Purpose: The purpose of this paper is to investigate the external factors that influence the profitability of a typical Greek systemic bank over the period 2001 – 2014. Design/Methodology/Approach: A conceptual framework incorporating two fundamental groups of const ructs, namely, macroeconomic forces and industry related factors, was developed. Two constructs were examined in the former: GDP growth rate and unemployment rate, whilst two attributes were explored in the latter; the bank's market share, both in terms of deposits and in terms of assets, and the banking market growth, also both in terms of the market's total assets and total deposits. In order to isolate the effects of the ongoing financial crisis, the research was undertaken for two periods, firstly 2001 to 2014 and secondly, the period 2001 - 2011, which excluded the deep recession. Consequently, multiple regression analysis was conducted and linear models were specified by means of OLS. Findings: The empirical analysis revealed that both macroeconomic forces and industry-related factors affect bank profitability. As far as the macroeconomic factors are concerned, unemployment rate has a negative impact, whereas the GDP growth rate has a positive impact on bank profitability. The industry -related factors, rate of growth of the industry's deposits and bank's assets market share have a positive impact on the financial performance of the bank. Finally, the rate of growth of the industry's assets and the bank's deposits market share have a negative effect on bank profitability. Originality/Value: This study reveals the mechanism determining bank profitability over a recent period that includes the financial crisis. Moreover, understanding the impact of macroeconomic forces as well as industry related attributes on bank profitability may enable banks to focus on the most critical factors in their decision process.

IMPACT OF CORRUPTION ON FARM PRODUCTION AND PROFIT

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Asif Reza Anik

2013-02-01

Full Text Available By analyzing experiences of 210 rice farmers belonging to six villages of six different districts in Bangladesh this article estimates the impact of corruption on farm production and profit. Unlike existing literature corruption here is defined in broader term. Both explicit and implicit cost items are included while calculating the cost of corruption. Through estimating the marginal physical product of fertilizer, a relative impact of corruption on farm production is estimated. Then by hypothesizing different scenarios with different levels of corruption, changes in a farmer's benefit cost ratio is estimated. It has been observed that with reducing cost of corruption farmers observe higher benefit cost ratio and vice versa. Cost of corruption is found to be relatively higher in restricted input market situation and relatively lower when the market is more competitive. Thus our results are suggestive for competitive market policy to reduce corruption which will ultimately result in more farm production and profit.

Future consequences of decreasing marginal production efficiency in the high-yielding dairy cow.

Science.gov (United States)

Moallem, U

2016-04-01

The objectives were to examine the gross and marginal production efficiencies in high-yielding dairy cows and the future consequences on dairy industry profitability. Data from 2 experiments were used in across-treatments analysis (n=82 mid-lactation multiparous Israeli-Holstein dairy cows). Milk yields, body weights (BW), and dry matter intakes (DMI) were recorded daily. In both experiments, cows were fed a diet containing 16.5 to 16.6% crude protein and net energy for lactation (NEL) at 1.61 Mcal/kg of dry matter (DM). The means of milk yield, BW, DMI, NEL intake, and energy required for maintenance were calculated individually over the whole study, and used to calculate gross and marginal efficiencies. Data were analyzed in 2 ways: (1) simple correlation between variables; and (2) cows were divided into 3 subgroups, designated low, moderate, and high DMI (LDMI, MDMI, and HDMI), according to actual DMI per day: ≤ 26 kg (n=27); >26 through 28.2 kg (n=28); and >28.2 kg (n=27). The phenotypic Pearson correlations among variables were analyzed, and the GLM procedure was used to test differences between subgroups. The relationships between milk and fat-corrected milk yields and the corresponding gross efficiencies were positive, whereas BW and gross production efficiency were negatively correlated. The marginal production efficiency from DM and energy consumed decreased with increasing DMI. The difference between BW gain as predicted by the National Research Council model (2001) and the present measurements increased with increasing DMI (r=0.68). The average calculated energy balances were 1.38, 2.28, and 4.20 Mcal/d (standard error of the mean=0.64) in the LDMI, MDMI, and HDMI groups, respectively. The marginal efficiency for milk yields from DMI or energy consumed was highest in LDMI, intermediate in MDMI, and lowest in HDMI. The predicted BW gains for the whole study period were 22.9, 37.9, and 75.8 kg for the LDMI, MDMI, and HDMI groups, respectively. The

Estimating the impact of Medicare part D on the profitability of independent community pharmacies.

Science.gov (United States)

Carroll, Norman V

2008-10-01

Medicare Part D provides insurance coverage for prescription drugs to elderly and disabled consumers. Part D accounted for 24% of prescriptions dispensed by independent pharmacies in the first year of the program (2006). To date, the impact of Part D on independent pharmacies has been explored only in small, qualitative, or non-peer-reviewed studies. To develop preliminary estimates of the impact of Part D on independent pharmacies' profitability. A financial model was built to examine the impact of Part D on pharmacy profitability. A key input value was the gross margin percentage for Part D; the midpoint of estimates reported in the literature was used as the base-case input value. The remaining model inputs were derived from 2 non-peer-reviewed published sources: (a) the National Community Pharmacist Association (NCPA)'s survey of independent pharmacies, which provided financial data for the year prior to Part D implementation (2005); and (b) IMS Health national market research data, which provided information about changes in prescription drug utilization from 2005 to 2006. Model estimates represented a "typical" independent pharmacy, defined using mean values for financial measures in 2005 as reported by NCPA. The model examined the impact of Part D on the proportion of prescriptions reimbursed by other sources (private third-party insurance, Medicaid, and cash payments by patients); pharmacies' overall prescription gross margin; the number of Part D-induced prescriptions; the number of prescriptions lost to mail-order pharmacies; and net income before taxes. Key values and assumptions were subjected to one-way and probabilistic sensitivity analyses. The model indicated that implementation of Part D resulted in a mean (SD) 22% (4%) decrease in net income before taxes. This change was primarily the result of an absolute 0.7% decline in the gross margin for all prescriptions. The lower overall gross margin resulted from lower reimbursement on Part D

Analisis Cost-Volume-Profit Kaitannya dengan Perencanaan Laba

Directory of Open Access Journals (Sweden)

Rian Andriani

2018-01-01

Full Text Available Tujuan penelitian  ini adalah untuk menganalisis cost, volume, profit Break Event Point dan Margin Of Safety L.A English Course Baleendah Bandung pada kuartal I – IV. Metode penelitian yang digunakan adalah metode penelitian kuntitatif deskriptif. Teknik pengumpulan data menggunakan studi pustaka, observasi, wawancara, dan dokumentasi yang memiliki hubungan dengan pokok permasalahan. Teknik analisis data yang digunakan metode regresi kuadrat terkecil, break event point dan margin of safety.  Hasil menunjukan, biaya tertinggi terdapat pada kuartal I, volume penjualan  tertinggi terdapat pada kuartal I, laba tertinggi terdapat pada kuartal I, Break Event Point tertinggi terdapat pada kuartal I. Sedangkan Margin of safety (% tertinggi pada kuartal IV yaitu 91.9%. Masalah yang timbul dalam  perencanaan  laba yaitu pertama  pendapatan L.A English Course  naik turun  dalam satu  tahunnya, kedua  kurangnya promosi untuk beberapa program kecuali program regular. Upaya dalam mengatasi masalah yang timbul di L.A English Course yaitu pertama memberikan gratis biaya daftar, dan memberi voucher untuk siswa L.A yang memasukan siswa baru., kedua membagikan brosur, dan menawarkan program L.A. dengan melakukan follow up semua nomor telepon tamu yang pernah berkunjung.

Managing gas plant margins through the financial commodities market

International Nuclear Information System (INIS)

Peters, D.; Lafferty, L.

1995-01-01

Gas processors invest capital in gas plants to condition raw natural gas for market. They also attempt to upgrade the value of natural gas streams by removing gas liquids contained in these streams and selling them for a profit. Unfortunately, this is not always possible. Gas processing profit margins swing up and down in line with the volatility of the natural gas and gas liquids markets. Consequently the return on gas processors invested capital also swings up and down through ''good years'' and ''bad years''. Until recently, gas processors have had to bear the risk associated with these swings in margins. While an efficient market exists for products like crude oil on the New York Mercantile Exchange, no similar market has been available for gas liquids. The NYMEX propane contract has not developed sufficient liquidity for year round hedging of propane, much less the other gas liquids. Processors in regions without access to the Belvieu market encounter an even more difficult task attempting to use the NYMEX contract to hedge. Today this inability to manage risk is beginning to change. The natural gas markets have led the way since their deregulation with an actively traded over-the-counter forwards market firmly established. An over-the-counter forwards market for gas liquids has also started to emerge. It is through these new and emerging markets that a gas plant's profitability can be hedged

Investigating the Nonlinear Relationship between Working Capital and Profitability: a Case of Pakistan Textile Firms

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Ashfaq Habib

2018-03-01

Full Text Available This study analyzes the impact of working capital (WCR on operating profit of Pakistan textile firms from 2009 to 2016. The nonlinear relationship has been found between working capital and operating profit, which indicates that an optimal level of working capital exists in the textile firms of Pakistan. The firms are seeking the optimal working capital, where WCR (4.78% of sales in generalized method of movement is used. Further, the study reveals that in the firms which maintain the positive working capital, it has a significant negative infl uence on the profitability, while in the firms with negative working capital, it has a significant positive infl uence on their profitability. The study also ascertains that cash holding level is an important factor for efficient working capital management.

The role of non-financial performance measures in predicting hospital financial performance: the case of for-profit system hospitals.

Science.gov (United States)

Vélez-González, Heltie; Pradhan, Rohit; Weech-Maldonado, Robert

2011-01-01

Non-financial measures have found increasing acceptance in the business world--however, their application in the health care industry remains limited. The purpose of this article is to understand the influence of non-financial measures (efficiency, productivity, and quality) on the financial performance of for-profit system hospitals. The sample consists of 499 for-profit system hospitals in the United States from 1999 to 2002. Data analyzed include the American Hospital Association's Annual Survey, Medicare Cost Reports, Joint Commission's quality scores, and the Centers for Medicare & Medicaid Services' Hospital Case Mix Index. Dependent variables consist of financial measures (operating and total margins), while independent variables include measures of efficiency, productivity, and quality. Our results suggest the influence of non-financial performance measures on financial performance; occupancy rate positively influences financial performance while greater labor intensity may have negative implications for financial performance. In addition, we show that quality positively influences financial performance thereby offering a potential business case for quality. This result has important managerial and policy implications as it may incentivize capital and human resource investments required to improve hospital quality of care.

Stroke: a Hidden Danger of Margin Trading in Stock Markets.

Science.gov (United States)

Lin, Shu-Hui; Wang, Chien-Ho; Liu, Tsai-Ching; Chen, Chin-Shyan

2015-10-01

Using 10-year population data from 2000 through 2009 in Taiwan, this is the first paper to analyze the relationship between margin trading in stock markets and stroke hospitalizations. The results show that 3 and 6 days after an increase of margin trading in the Taiwan stock markets are associated with greater stoke hospitalizations. In general, a 1 % increase in total margin trading positions is associated with an increment of 2.5 in the total number of stroke hospitalizations, where the mean number of hospital admissions is 233 cases a day. We further examine the effects of margin trading by gender and age groups and find that the effects of margin trading are significant for males and those who are 45-74 years old only. In summary, buying stocks with money you do not have is quite risky, especially if the prices of those stocks fall past a certain level or if there is a sudden and severe drop in the stock market. There is also a hidden danger to one's health from margin trading. A person should be cautious before conducting margin trading, because while it can be quite profitable, danger always lurks just around the corner.

Marketization in Long-Term Care: A Cross-Country Comparison of Large For-Profit Nursing Home Chains

Science.gov (United States)

Harrington, Charlene; Jacobsen, Frode F; Panos, Justin; Pollock, Allyson; Sutaria, Shailen; Szebehely, Marta

2017-01-01

This article presents cross-country comparisons of trends in for-profit nursing home chains in Canada, Norway, Sweden, United Kingdom, and the United States. Using public and private industry reports, the study describes ownership, corporate strategies, costs, and quality of the 5 largest for-profit chains in each country. The findings show that large for-profit nursing home chains are increasingly owned by private equity investors, have had many ownership changes over time, and have complex organizational structures. Large for-profit nursing home chains increasingly dominate the market and their strategies include the separation of property from operations, diversification, the expansion to many locations, and the use of tax havens. Generally, the chains have large revenues with high profit margins with some documented quality problems. The lack of adequate public information about the ownership, costs, and quality of services provided by nursing home chains is problematic in all the countries. The marketization of nursing home care poses new challenges to governments in collecting and reporting information to control costs as well as to ensure quality and public accountability. PMID:28634428

48 CFR 1615.404-70 - Profit analysis factors.

Science.gov (United States)

2010-10-01

... CONTRACTING BY NEGOTIATION Contract Pricing 1615.404-70 Profit analysis factors. (a) OPM contracting officers... managerial expertise and effort. Evidence of effective contract performance will receive a plus weight, and... indifference to cost control will generally result in a negative weight. (2) Contract cost risk. In assessing...

Estimating the impact of royalty relief on oil and gas production on marginal state leases in the US

International Nuclear Information System (INIS)

Dismukes, David E.; Burke, Jeffrey M.; Mesyanzhinov, Dmitry V.

2006-01-01

An emerging challenge for several energy-producing states will be the development of policies that encourage the continued economic development of maturing oil and gas properties. Production rates naturally decline as wells age. This is particularly true for properties approaching 'marginal' status in many energy-producing states where continued operation under expected economic conditions becomes questionable. Premature shut-in of these wells may entail loss of production, economic output, employment, and state revenues. This paper examines the potential impact of royalty relief on state leases and economic production using Louisiana as a case study. Two production related measures for state leases are estimated: (1) current production position relative to the age of the property and (2) the current costs of production for the given property at a given or anticipated level of output. Those wells/leases that are estimated as having negative profitability (i.e., losses) or operating at break-even levels are candidates for 'marginal' classification. The number of wells and production associated with these marginal leases will then be estimated. The economic impacts of offering royalty relief at the 25% level are considered. Under the royalty relief scenario, a minimal amount of increased revenues is realized by the state and the discount provides only incremental production from marginal wells relative to total state production

Application of marginal calculation in managing a cooperative company

Directory of Open Access Journals (Sweden)

Danuta Mierzwa

2011-01-01

Full Text Available In the market economy the basic subject is a private enterprise dealing with the production of goods and services in order to maximize profit. The neoclassical microeconomics focuses on examining only these enterprises on the market, which strive to maximize profit within certain limitations in a rational way. Acc. to the act of September 1982 on the co-operative law (The Journal of Laws 1982, no 30, pos. 2010, a cooperative company belongs to a group of private enterprises. However, it is called a non-profit enterprise. Nevertheless, cooperative companies on the market are seldom confronted with capital companies. In the market economy it is a rare situation for a company not to be threatened by competition. And even if such a situation does happen, it is always connected with limited demand. Thus the following question may be asked: can a co-operative company, if it wants to become rational, utilize the marginalization theory in order to determine its general balance? The author is trying to answer this question in her article, selecting an agricultural supply co-operative for her analysis. Using the graphical method, she determines various types of optimums, at the same time stating what importance it has for the members and what position the co-perative holds on the market. In the conclusion she emphasizes that the difficulties with applying the marginalization theory in the co-operative companies are brought about by the way decisions are taken and these subjects are managed, and may be the reason why many of these enterprises are closed down.

Banking Regulation and Determinants of Banks’ Profits: Empirical Evidence from Turkey

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Mahmut ERDOGAN

2016-05-01

Full Text Available The crises that are frequently observed in the banking industries of emerging markets which affect banks’ profits necessitate regulations and supervision of these markets. This paper investigates the determinants of Turkish banks’ profits and the effects of the regulations implemented in this industry on profits. In this research, 468 firm year observations for 36 Turkish banks for the period 1995-2007 were used and analyzed with Prais-Winsten regression method. The empirical findings of the study show positive and statistically significant relations between capital, size, offbalance sheet transactions, liquidity and loans and performance and negative and statistically significant relations between quality of loans, concentration and performance.

Texas hospitals riding tall. While hospitals post robust profit margins, HMOs are saddled with mounting losses.

Science.gov (United States)

Saphir, A

1999-02-08

In Texas, they do things differently, and they do things big. Hospitals in the Lone Star State have been banding together more often and more effectively than elsewhere. Swinging their lassos, they are riding herd on HMOs, enjoying record profits and making ever-larger deals.

The influence of liquidity on profitability of Polish construction sector companies

OpenAIRE

Bolek, Monika; Wili'nski, Wojciech

2012-01-01

The concept of financial liquidity is not very straight, as it has various aspects, although generally it refers to the current assets and liabilities management. Financial liquidity together with profitability are the core categories of enterprise activities which, in order to function efficiently, the company should treat as equally important. The growth of financial liquidity may negatively influence the company profitability. If the company is to liquid in the static sense than it will af...

Association between payer mix and costs, revenues and profitability: a cross-sectional study of Lebanese hospitals.

Science.gov (United States)

Saleh, S; Ammar, W; Natafgi, N; Mourad, Y; Dimassi, H; Harb, H

2015-09-08

This study aimed to examine the association between the payer mix and the financial performance of public and private hospitals in Lebanon. The sample comprised 24 hospitals, representing the variety of hospital characteristics in Lebanon. The distribution of the payer mix revealed that the main sources of revenue were public sources (61.1%), out-of-pocket (18.4%) and private insurance (18.2%). Increases in the percentage of revenue from public sources were associated with lower total costs and revenues, but not profit margins. An inverse association was noted between increased revenue from private insurance and profitability, attributed to increased costs. Increased percentage of out of- pocket payments was associated with lower costs and higher profitability. The study provides evidence that payer mix is associated with hospital costs, revenues and profitability. This should initiate/inform discussions between public and private payers and hospitals about the level of payment and its association with hospital sector financial viability.

Optimal Willingness to Supply Wholesale Electricity Under Asymmetric Linearized Marginal Costs

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David Hudgins

2012-01-01

Full Text Available This analysis derives the profit-maximizing willingness to supply functions for single-plant and multi-plant wholesale electricity suppliers that all incur linear marginal costs. The optimal strategy must result in linear residual demand functions in the absence of capacity constraints. This necessarily leads to a linear pricing rule structure that can be used by firm managers to construct their offer curves and to serve as a benchmark to evaluate firm profit-maximizing behavior. The procedure derives the cost functions and the residual demand curves for merged or multi-plant generators, and uses these to construct the individual generator plant offer curves for a multi-plant firm.

Determinants of the net interest margins in BH banks

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Plakalović Novo

2015-01-01

Full Text Available In this paper, the subject of analysis is influence of certain macroeconomic and microeconomic variables on bank net interest margins in Bosnia and Herzegovina (BH for the period from 2008 to 2013 through a multiple linear regression models. The level and dynamics of NIM indicate the efficiency of financial intermediation. The observed period is characterized by the reduction in net interest margins of banks over the previous decade, which was characterized by high GDP growth, bank loans and high-interest rates and high profitability. Therefore, this study examines the factors that affect the level of net interest margins in the domestic banking industry. The main objective of this paper is to determine whether there is interdependence in the movement between the independent and dependent variables through a multiple linear regression. The net interest margin will be observed as a dependent variable, and liquidity risk, operating costs, credit risk, the index of market concentration, funding risk, the growth rate of gross domestic product and consumer price index will be used as independent variables.

Impact of profit retention on value creation to shareholders of Brazilian companies

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Leonardo Cunha da Silva

2017-09-01

Full Text Available The company's decision on reinvesting profits started from the premise that the return on invested capital will exceed the opportunity cost, creating, consequently, shareholder value. Thus, wealth generation of the entity will be influenced by the level of retained earnings. Therefore, in this work we seek to examine how retained profit affect the value creation of 223 Brazilian companies, from 2008 to 2014, the control used was investment opportunity. Therefore we used descriptive statistics and panel data models. As main results we found that there is a high level of retained profit in the sample, however, a small part of the companies created value in the period. Still, the negative relationship between the level of capitalization of profits and created value is highlighted. Besides, it was observed that the companies that belonged to groups of higher levels of profit distribution ended up generating more wealth for investors.

Profitability and Farmers Conservation Efforts on Sustainable Potato Farming in Wonosobo Regency

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Liana Fatma Leslie Pratiwi

2017-07-01

Full Text Available It takes into account in potato farming sustainability, since it was recognised as a holticultural commodity for farmers’ subsistence in Wonosobo Regency. For the reason that farming land was being degraded by errossion, the potato productivity apparently continued to decline. Potato farming sustainability can be deliberated from economic (profitability and environmental (conservation efforts points of view in order to remain profitable in a long term sustainable environment. This study is aimed to (1 to analyse the profitability of potato farming; (2 to analyse farmers’ effort on soil conservation and factors which affected sustainability of potato farming. The method used in this study was basic descriptive analysis. The study site was in Kejajar District, Wonosobo Regency, subsequently 50 random farmers as respondences was obtained. Gross Margin, Return on Invested Capital, and Operating Ratio were used to measure the profitability of potato farming. Conservation Activity Index (CAI was used to measure farmers’ effort on soil conservation, while paired liner regression model with Ordinary Least Square (OLS method was used to understand the factors which affected the conservation efforts of test sites. The study results revealed that the potato farming was profitable. Farmers conservation efforts mostly was in average category (74%, and only view in high category (16% and low category (10%. Factors affected the farmers conservation efforts i.e. land area, potato products, potato price, the off-farm income, number of family members, farmers ages, and village dummy.

Taxes, bankruptcy costs, and capital structure in for-profit and not-for-profit hospitals.

Science.gov (United States)

Huang, Sean S; Yang, Jie; Carroll, Nathan

2018-02-01

About 60% of the US hospitals are not-for-profit and it is not clear how traditional theories of capital structure should be adapted to understand the borrowing behavior of not-for-profit hospitals. This paper identifies important determinants of capital structure taken from theories describing for-profit firms as well as prior literature on not-for-profit hospitals. We examine the differential effects these factors have on the capital structure of for-profit and not-for-profit hospitals. Specifically, we use a difference-in-differences regression framework to study how differences in leverage between for-profit and not-for-profit hospitals change in response to key explanatory variables (i.e. tax rates and bankruptcy costs). The sample in this study includes most US short-term general acute hospitals from 2000 to 2012. We find that personal and corporate income taxes and bankruptcy costs have significant and distinct effects on the capital structure of for-profit and not-for-profit hospitals. Specifically, relative to not-for-profit hospitals: (1) higher corporate income tax encourages for-profit hospitals to increase their debt usage; (2) higher personal income tax discourages for-profit hospitals to use debt; and (3) higher expected bankruptcy costs lead for-profit hospitals to use less debt. Over the past decade, the capital structure of for-profit hospitals has been more flexible as compared to that of not-for-profit hospitals. This may suggest that not-for-profit hospitals are more constrained by external financing resources. Particularly, our analysis suggests that not-for-profit hospitals operating in states with high corporate taxes but low personal income taxes may face particular challenges of borrowing funds relative to their for-profit competitors.

Not-for-profits trek into for-profit accounting: goodwill impairments.

Science.gov (United States)

2011-03-01

Acquisitions may be integral and strategic drivers for successfully executing the business objectives of an entity or fulfilling its mission. The new guidance creates accounting and valuation challenges for not-for-profit entities that for-profit entities have been dealing with for years. Now that not-for-profit entities apply the same principles, the fair value concepts and accounting complexities are more pervasive. By brining to bear the rights complement of accounting, finance, and valuation resources, not-for-profit entities can successfully navigate these challenges and gain an understanding of the full magnitude of acquisition decisions on financial results.

Pathologic margin involvement and the risk of recurrence in patients treated with breast-conserving therapy

International Nuclear Information System (INIS)

Gage, Irene; Nixon, Asa J.; Schnitt, Stuart J.; Recht, Abram; Gelman, Rebecca; Silver, Barbara; Connolly, James L.; Harris, Jay R.

1995-01-01

PURPOSE: To assess the relationship between microscopic margin status and recurrence after breast-conserving therapy for tumors with or without an extensive intraductal component (EIC). MATERIALS AND METHODS: During the years 1968 to 1986, 1865 women with unilateral clinical stage I or II breast cancer were treated with radiation therapy for breast conservation. Of these, 340 received ≥60 Gy to the tumor bed and had margins that were evaluable on review of their pathologic slides; these constitute the study population. The median follow-up was 109 months. All available slides were reviewed by one of the study pathologists (SS, JC). Final radial margins of excision were classified as negative >1 mm (no invasive or ductal carcinoma in-situ within 1 mm of the inked margin), negative ≤1 mm (any carcinoma ≤1 mm of the inked margin but not at ink) or positive (any carcinoma at the inked margin). A focally positive margin was defined as any invasive or in-situ carcinoma at the margin in ≤3 LPF. The extent of positivity was not evaluable in 2 patients and the distance of the tumor from the margin was not evaluable in 48 patients with a negative margin. Thirty-nine percent of EIC-negative and 46% of EIC-positive patients underwent a re-excision and, for these, the final margin analyzed was from the re-excised specimen. The median dose to the tumor bed was 63 Gy for patients with positive margins and 62 Gy for patients with negative margins. Recurrent disease was classified as ipsilateral breast recurrence (IBR) or distant metastasis/regional nodal failure (DM/RNF). RESULTS: Five year crude rates for the first site of recurrence were calculated for 340 patients evaluable at 5 years. Results were tabulated separately for all patients, EIC-negative and EIC-positive. All p-values tested for differences in the distribution of sites of first failure. CONCLUSIONS: The risk of ipsilateral breast recurrence is equally low for patients with close (≤1 mm) or negative (>1 mm

Impact of Working Capital Management on Profitability of Textile Sector of Pakistan

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Sumaira Tufail

2013-06-01

Full Text Available Working capital can be considered as source of existence for a financial body and management of working capital is regarded as one of the most essential part of business management. This study aims to find out the impact of working capital policies on profitability. Return on assets is used as a measure of profitability. Current assets to total assets ratio is used to compute the investment policy of working capital management and to determine financing policy of working capital management current liabilities to total assets ratio is used. Other variables that are used in this study are quick ratio, debt to equity ratio and size of the firms. Secondary data of 117 textile firms listed on Karachi stock exchange is taken for a period of six years i.e. 2005-2010 to calculate all these variables. Results of the regression analysis show that aggressiveness of working capital management policies is negatively associated with profitability. Moreover liquidity and size of the firm have positive relation profitability whereas debt to equity ratio is negatively correlated with profitability. Textile sector is one of the majors sectors of Pakistan. It needs due consideration regarding the management of assets and liabilities. So, the aim of this study is to provide some useful recommendations for the people responsible for the management of this sector. This study also establishes the basis for future research in this area of business.

Cost structure and profitability of Assaf dairy sheep farms in Spain.

Science.gov (United States)

Milán, M J; Frendi, F; González-González, R; Caja, G

2014-01-01

Twenty dairy sheep farms of Assaf breed, located in the Spanish autonomous community of Castilla y León and included in a group receiving technical support, were used to study their production cost structure and to assess their economic profitability during 2009. On average, farms had 89.2±38.0 ha (own, 38%), 592±63 ewes, yielded 185.9±21.1×10(3) L/yr (i.e., 316±15 L/ewe), and were attended by 2.3±0.2 annual working units (family, 72%). Total annual income was €194.4±23.0×10(3)/yr (€1.0=$1.3) from milk (78.6%), lamb (13.2%), culled ewes (0.5%), and other sales (0.8%, wool and manure), and completed with the European Union sheep subsidy (6.9%). Total costs were €185.9±19.0×10(3)/yr to attend to feeding (61.6%), labor (18.2%), equipment maintenance and depreciation (7.6%), finances (3.0%), animal health (2.5%), energy, water and milking supplies (2.2%), milk recording (0.5%), and other costs (4.4%; assurances, shearing, association fees, and so on). Mean dairy sheep farm profit was €8.5±5.8×10(3)/yr (€7.4±8.3/ewe) on average, and varied between -€40.6 and €81.1/ewe among farms. Only 60% of farms were able to pay all costs, the rest had negative balances. Nevertheless, net margin was €31.0±6.5×10(3)/yr on average, varying between €0.6 and €108.4×10(3)/yr among farms. In this case, without including the opportunity costs, all farms had positive balances. Total annual cost (TAC; €/ewe) and total annual income (TAI; €/ewe) depended on milk yield (MY; L/ewe) and were TAC=161.6 + 0.502 MY (R(2)=0.50), and TAI=78.13 + 0.790 MY (R(2)=0.88), respectively, with the break-even point being 291 L/ewe. Conversely, farm TAC (€/yr) and farm TAI (€/yr) were also predicted as a function of the number of ewes (NOE) per flock, as TAC=18,401 + 282.8 NOE (R(2)=0.89) and TAI=330.9 NOE (R(2)=0.98), with the break-even point being 383 ewes/flock. Finally, according to the increasing trend expected for agricultural commodity prices, it was

Hospital profitability and capital structure: a comparative analysis.

Science.gov (United States)

Valvona, J; Sloan, F A

1988-08-01

This article compares the financial performance of hospitals by ownership type and of five publicly traded hospital companies with other industries, using such indicators as profit margins, return on equity (ROE) and total capitalization, and debt-to-equity ratios. We also examine stock returns to investors for the five hospital companies versus other industries, as well as the relative roles of debt and equity in new financing. Investor-owned hospitals had substantially greater margins and ROE than did other hospital types. In 1982, investor-owned chain hospitals had a ROE of 26 percent, 18 points above the average for all hospitals. Stock returns on the five selected hospital companies were more than twice as large as returns on other industries between 1972 and 1983. However, after 1983, returns for these companies fell dramatically in absolute terms and relative to other industries. We also found investor-owned hospitals to be much more highly levered than their government and voluntary counterparts, and more highly levered than other industries as well.

The Service-profit Chain

DEFF Research Database (Denmark)

Grønholdt, Lars; Martensen, Anne

2016-01-01

This paper examines the links between employee attitudes, customer loyalty and company profitability. From a conceptual point of view, this employee-customer-profit chain, also known as the service-profit chain, is well founded and generally accepted. But for many companies, it seems difficult...... to demonstrate such links, and several issues must be addressed to uncover the links. To investigate these links empirically, a hotel chain provided data matching employee and customer measures with measures of profitability. We have successfully employed a modeling approach, and the paper reports empirical...... evidence of the employee-customer-profit chain. As it is possible to estimate the links, we have demonstrated their effect on company profitability. The research findings provide a better understanding of the service-profit chain and may help practitioners in improving company financial performance....

Modelled female sale options demonstrate improved profitability in northern beef herds.

Science.gov (United States)

Niethe, G E; Holmes, W E

2008-12-01

To examine the impact of improving the average value of cows sold, the risk of decreasing the number weaned, and total sales on the profitability of northern Australian cattle breeding properties. Gather, model and interpret breeder herd performances and production parameters on properties from six beef-producing regions in northern Australia. Production parameters, prices, costs and herd structure were entered into a herd simulation model for six northern Australian breeding properties that spay females to enhance their marketing options. After the data were validated by management, alternative management strategies were modelled using current market prices and most likely herd outcomes. The model predicted a close relationship between the average sale value of cows, the total herd sales and the gross margin/adult equivalent. Keeping breeders out of the herd to fatten generally improves their sale value, and this can be cost-effective, despite the lower number of progeny produced and the subsequent reduction in total herd sales. Furthermore, if the price of culled cows exceeds the price of culled heifers, provided there are sufficient replacement pregnant heifers available to maintain the breeder herd nucleus, substantial gains in profitability can be obtained by decreasing the age at which cows are culled from the herd. Generalised recommendations on improving reproductive performance are not necessarily the most cost-effective strategy to improve breeder herd profitability. Judicious use of simulation models is essential to help develop the best turnoff strategies for females and to improve station profitability.

Critical care medicine as a distinct product line with substantial financial profitability: the role of business planning.

Science.gov (United States)

Bekes, Carolyn E; Dellinger, R Phillip; Brooks, Daniel; Edmondson, Robert; Olivia, Christopher T; Parrillo, Joseph E

2004-05-01

As academic health centers face increasing financial pressures, they have adopted a more businesslike approach to planning, particularly for discrete "product" or clinical service lines. Since critical care typically has been viewed as a service provided by a hospital, and not a product line, business plans have not historically been developed to expand and promote critical care. The major focus when examining the finances of critical care has been cost reduction, not business development. We hypothesized that a critical care business plan can be developed and analyzed like other more typical product lines and that such a critical care product line can be profitable for an institution. In-depth analysis of critical care including business planning for critical care services. Regional academic health center in southern New Jersey. None. As part of an overall business planning process directed by the Board of Trustees, the critical care product line was identified by isolating revenue, expenses, and profitability associated with critical care patients. We were able to identify the major sources ("value chain") of critical care patients: the emergency room, patients who are admitted for other problems but spend time in a critical care unit, and patients transferred to our intensive care units from other hospitals. The greatest opportunity to expand the product line comes from increasing the referrals from other hospitals. A methodology was developed to identify the revenue and expenses associated with critical care, based on the analysis of past experience. With this model, we were able to demonstrate a positive contribution margin of dollar 7 million per year related to patients transferred to the institution primarily for critical care services. This can be seen as the profit related to the product line segment of critical care. There was an additional positive contribution margin of dollar 5.8 million attributed to the critical care portion of the hospital stay of

Comparative analysis of functional food producers' profitability in Serbia: A leader-follower relation

Directory of Open Access Journals (Sweden)

Draganac Dragana

2016-01-01

Full Text Available The functional food market in Serbia is relatively young and insufficiently explored both from the aspects of producers and consumers, the qualitative aspect and especially from the quantitative aspect. The aim of this paper is to illustrate the results of the comprehensive quantitative financial analysis of profitability which focuses on the example of two companies. The main criterion applied in the selection of companies for the analysis represents the fact that one company is recognizable as a producer of foods with nutritive and health claims and is a leader within that market segment, whereas the other analyzed company mostly produces traditional products and has entered the aforementioned market segment at a later stage. The key idea is to do a comparative analysis of the profitability of these two companies for a four-year period. The profitability ratio analysis and the Du Pont analysis system are used in the paper as well as the analysis of solvency and financial leverage effect. The vertical analysis of income statement is also done in order to reveal the relation between some cost categories and operating revenues. The research results lead to a conclusion that the company that mostly produces functional foods has higher profit margins and rates of return and is therefore in a more favourable position since it can benefit from positive effects of financial leverage to a higher extent. The profitability of the second relevant company is mostly based on the better asset turnover.

Resistance towards persuasion: differences between non-profit and commercial advertising

NARCIS (Netherlands)

Boogaard, C.R.; Fransen, M.L.; Eisend, M.; Langner, T.

2011-01-01

In the present research we examined a variety of strategies that consumers may use to resist persuasion towards non-profit and commercial advertising. Based on research by Jacks and Cameron (2003), we investigated seven strategies (i.e., attitude bolstering, counter arguing, negative affect,

DataProfit

DEFF Research Database (Denmark)

2016-01-01

DataProfit er et værktøj til at kortlægge og analysere din virksomheds evne til datadreven forretningsudvikling.......DataProfit er et værktøj til at kortlægge og analysere din virksomheds evne til datadreven forretningsudvikling....

Profitability of Residential Battery Energy Storage Combined with Solar Photovoltaics

Directory of Open Access Journals (Sweden)

Christoph Goebel

2017-07-01

Full Text Available Lithium-ion (Li-Ion batteries are increasingly being considered as bulk energy storage in grid applications. One such application is residential energy storage combined with solar photovoltaic (PV panels to enable higher self-consumption rates, which has become financially more attractive recently due to decreasing feed-in subsidies. Although residential energy storage solutions are commercially mature, it remains unclear which system configurations and circumstances, including aggregator-based applications such as the provision of ancillary services, lead to profitable consumer investments. Therefore, we conduct an extensive simulation study that is able to jointly capture these aspects. Our results show that, at current battery module prices, even optimal system configurations still do not lead to profitable investments into Li-Ion batteries if they are merely used as a buffer for solar energy. The first settings in which they will become profitable, as prices are further declining, will be larger households at locations with higher average levels of solar irradiance. If the batteries can be remote-controlled by an aggregator to provide overnight negative reserve, their profitability increases significantly.

Is the profitability of Canadian freestall farms associated with their performance on an animal welfare assessment?

Science.gov (United States)

Villettaz Robichaud, M; Rushen, J; de Passillé, A M; Vasseur, E; Haley, D; Orsel, K; Pellerin, D

2018-03-01

Improving animal welfare on farm can sometimes require substantial financial investments. The Canadian dairy industry recently updated their Code of Practice for the care of dairy animals and created a mandatory on-farm animal care assessment (proAction Animal Care). Motivating dairy farmers to follow the recommendations of the Code of Practice and successfully meet the targets of the on-farm assessment can be enhanced by financial gain associated with improved animal welfare. The aim of the current study was to evaluate the association between meeting or not meeting several criteria from an on-farm animal welfare assessment and the farms' productivity and profitability indicators. Data from 130 freestall farms (20 using automatic milking systems) were used to calculate the results of the animal care assessment. Productivity and profitability indicators, including milk production, somatic cell count, reproduction, and longevity, were retrieved from the regional dairy herd improvement association databases. Economic margins over replacement costs were also calculated. Univariable and multivariable linear regression models were used to evaluate the associations between welfare and productivity and profitability indicators. The proportion of automatic milking system farms that met the proAction criterion for hock lesions was higher compared with parlor farms and lower for the neck lesion criterion. The proAction criterion for lameness prevalence was significantly associated with average corrected milk production per year. Average days in milk (DIM) at first breeding acted as an effect modifier for this association, resulting in a steeper increase of milk production in farms that met the criterion with increasing average DIM at first breeding. The reproduction and longevity indicators studied were not significantly associated with meeting or not meeting the proAction criteria investigated in this study. Meeting the proAction lameness prevalence parameter was associated

Pricing strategies and levels and their impact on corporate profitability

Directory of Open Access Journals (Sweden)

Deonir De Toni

Full Text Available Abstract Price policy definition is one of the most important decisions in management as it affects corporate profitability and market competitiveness. Despite the importance that prices take in organizations, it appears that this element has not received proper attention by many academics and marketers since it represents, according to estimates, less than 2% of the papers on leading journals in the field. Thus, the aim of this study was to propose and test a theoretical model showing the impacts of pricing policy on corporate profitability. To this end, 150 companies in the metal-mechanic sector situated in the Northeast of Rio Grande do Sul State, Brazil were studied, integrating customer value-based pricing strategies, competition-based pricing strategies and cost-based pricing strategies with price levels (high and low and performance with respect to profitability. The results indicate that the profitability of the surveyed companies is positively affected by value-based pricing strategy and high price levels while it is negatively affected by low price levels. Such findings indicate that pricing policies influence the profitability of organizations and therefore, a more strategic look at the pricing process may constitute one aspect that cannot be overlooked by managers.

Profitability of wood harvesting enterprises

Energy Technology Data Exchange (ETDEWEB)

Penttinen, M. email: markku.penttinen@metla.fi; Mikkola, J. email: jarmo.mikkola@metla.fi; Rummukainen, A. email: arto.rummukainen@metla.fi

2009-07-01

The forest machine business is about 50 years old. The rapid technical development of machinery increased productivity up to the end of last century. In 2007, the total value of round and energy wood harvesting and silvicultural work operated by forest machine enterprises exceeded 570 mill. euro. According to the materials of the Vehicle Administration Finland and Statistics Finland there are about 1 600 active harvesting enterprises in the personal and business taxation system. Beside this, there are according to the Ministry of Agriculture and Forestry about 1 300 farmers who do harvesting as side business. About 1 000 enterprises working in June 2007 were studied with their retrospective economic analyses from 2001. The data includes all enterprises that had supplied closing of the accounts data. One-machine entrepreneurs represent more than a third of the number of enterprises, but only 13 percent of the turnover. Enterprises with seven or more machines represent less than ten percent of the number, but over twenty percent of the turnover. Enterprises are largest in eastern and northern Finland, where the average number of machines per enterprise exceeds three. Small enterprises are mostly singleowner business enterprises with a median turnover of 125 000 euros per annum. Partnerships and limited enterprises have double the median turnover of single-owner businesss. Limited companies turn over a median of 450 000 euro/y, representing 67 percent of total turnover. Median net profit varied between 6 and 10 percent of turnover in 2001-2007, but only between 2 and 4 percent where the wage adjustment is deducted from the profit. The wage adjustment is estimated as if the owners of single-owner businesses earn an operator's salary. Profit was highest in 2002 and lowest 2006. In the smallest enterprise class with a turnover of less than 75 000 euro/y, profit was lowest and negative in 2006 and 2007. The variation in profits between enterprises was also biggest in

[Resection margins in conservative breast cancer surgery].

Science.gov (United States)

Medina Fernández, Francisco Javier; Ayllón Terán, María Dolores; Lombardo Galera, María Sagrario; Rioja Torres, Pilar; Bascuñana Estudillo, Guillermo; Rufián Peña, Sebastián

2013-01-01

Conservative breast cancer surgery is facing a new problem: the potential tumour involvement of resection margins. This eventuality has been closely and negatively associated with disease-free survival. Various factors may influence the likelihood of margins being affected, mostly related to the characteristics of the tumour, patient or surgical technique. In the last decade, many studies have attempted to find predictive factors for margin involvement. However, it is currently the new techniques used in the study of margins and tumour localisation that are significantly reducing reoperations in conservative breast cancer surgery. Copyright © 2012 AEC. Published by Elsevier Espana. All rights reserved.

How to keep the profit from Norwegian gas export in Norway?

International Nuclear Information System (INIS)

Nese, Gjermund; Straume, Odd Rune

2005-01-01

The EU has set a goal of facilitating increased competition in the European gas market, and that this among other things shall lead to lower prices on natural gas. A substantial aspect for Norway, as a big supplier of natural gas to the EU, is weather this will lead to a larger part of the profits being moved down the value chain, thus benefiting the gas consuming countries. In light of this the Norwegian regulating authorities are reviewed and an analysis is provided of how strategic pricing of the natural gas transport from Norway to the EU market can ensure that as much as possible of the profit remains in Norway. The results are divided; increased competition in the EU's gas market may result in importing countries getting more of the profit in the natural gas value chain, but increased competition within Norwegian gas production may give a welfare profit for Norway while it affects the consuming countries in the EU negatively. Strategic pricing of the natural gas transport can in both cases be used to influence the distribution of profits between Norway and importing countries (ml)

Competition, Innovation, Risk-Taking, and Profitability in the Chinese Banking Sector: An Empirical Analysis Based on Structural Equation Modeling

Directory of Open Access Journals (Sweden)

Ti Hu

2016-01-01

Full Text Available We introduce a new perspective to systematically investigate the cause-and-effect relationships among competition, innovation, risk-taking, and profitability in the Chinese banking industry. Our hypotheses are tested by the structural equation modeling (SEM, and the empirical results show that (i risk-taking is positively related to profitability; (ii innovation positively affects both risk-taking and profitability, and the effect of innovation on profitability works both directly and indirectly; (iii competition negatively affects risk-taking but positively affects both innovation and profitability, and the effects of competition on risk-taking and profitability work both directly and indirectly; (iv there is a cascading relationship among market competition and bank innovation, risk-taking, and profitability.

Informational Efficiency in the USD/KRW Spot Market: Some Evidence from a Joint Runs Test and Foreigners’ Trading Rule Profits

Directory of Open Access Journals (Sweden)

Changmo Ahn

2010-12-01

Full Text Available This paper examines whether the USD/KRW spot market is efficient in processing new information by employing both the Runs Test and the foreigners' securities trading rule profitability approach. Excluding the period of 2008 financial crisis, the USD/KRW spot market is efficient in terms of close rates, but not efficient in terms of open rates. The foreigners' securities trading rule can also produce statistically significant profits if the trades are based on open prices, though not high. This implies that traders can predict future exchange rates, to some degree, with the information on foreign net purchases of securities in the Korean stock/ bond markets. If we consider the related interest differentials and transaction costs, however, the profits fade out to marginal level or below. This result implies that traders can expect the existence of predictability in the USD/KRW spot market, but not profitability.

Determinants of Commercial Banks' Profitability in Malaysia

OpenAIRE

Trofimov, Ivan D.; Md. Aris, Nazaria; Ying Ying, Jovena Kho

2018-01-01

This study aims to examine the relationship between non-performing loans (NPLs) and commercial banks' performance in Malaysia, alongside other factors. It considers the effect of NPLs, cost efficiency and bank size on commercial banks' profitability by using panel data regression (Pooled OLS model), covering the period of 2010-2015. The findings of the study show that NPLs and cost efficiency have a significant negative relationship with commercial banks' performances in Malaysia. On the othe...

Profit maximization mitigates competition

DEFF Research Database (Denmark)

Dierker, Egbert; Grodal, Birgit

1996-01-01

We consider oligopolistic markets in which the notion of shareholders' utility is well-defined and compare the Bertrand-Nash equilibria in case of utility maximization with those under the usual profit maximization hypothesis. Our main result states that profit maximization leads to less price...... competition than utility maximization. Since profit maximization tends to raise prices, it may be regarded as beneficial for the owners as a whole. Moreover, if profit maximization is a good proxy for utility maximization, then there is no need for a general equilibrium analysis that takes the distribution...... of profits among consumers fully into account and partial equilibrium analysis suffices...

Mapping the Profit Motive: The Distinct Geography and Demography of For-Profit Charter Schools

Science.gov (United States)

Robertson, W. Brett

2015-01-01

For-profit charter schools represent a controversial new market-based education reform (Garcia, Barber, & Molnar, 2009; Conn, 2002). This essay explores how schools operated by for-profit corporations differ from those operated by non-profit organizations. Specifically, do for-profit charter schools locate in demographically distinct areas and…

THE DETERMINANTS OF PROFITABILITY IN COMPANIES LISTED ON THE BUCHAREST STOCK EXCHANGE

Directory of Open Access Journals (Sweden)

SORANA VĂTAVU

2014-10-01

Full Text Available This research aims to establish the determinants of financial performance in 126 Romanian companies listed on the Bucharest Stock Exchange, over a period of ten-years (2003-2012. The analysis is based on cross sectional regressions. Return on assets is the performance proxy, while the variables expected to have a significant impact on profitability are debt, asset tangibility, size, liquidity, taxation, risk, inflation and crisis. Regression results indicate that profitable companies operate with limited borrowings. Tangibility, business risk and the level of taxation have a negative impact on return on assets. Although earnings are sustained by significant sales turnover, performance is affected by high levels of liquidity. Periods of unstable economic conditions, reflected by high inflation rates and the current financial crisis, have a strong negative impact on corporate performance.

The profitability of automatic milking on Dutch dairy farms.

Science.gov (United States)

Bijl, R; Kooistra, S R; Hogeveen, H

2007-01-01

Several studies have reported on the profitability of automatic milking based on different simulation models, but a data-based study using actual farm data has been lacking. The objective of this study was to analyze the profitability of dairy farms having an automatic milking system (AMS) compared with farms using a conventional milking system (CMS) based on real accounting data. In total, 62 farms (31 using an AMS and 31 using a CMS) were analyzed for the year 2003 in a case control study. Differences between the years 2002 and 2003 also were analyzed by comparing a subgroup of 16 farms with an AMS and 16 farms with a CMS. Matching was based on the time of investment in a milking system (same year), the total milk production per year, and intensity of land use (kg/ha). Results from 2003 showed that the farms with an AMS used, on average, 29% less labor than farms with a CMS. In contrast, farms using a CMS grew faster (37,132 kg of milk quota and 5 dairy cows) than farms with an AMS (-3,756 kg milk quota and 0.5 dairy cows) between 2002 and 2003. Dairy farmers with a CMS had larger (euro7,899) revenues than those with an AMS. However, no difference in the margin on dairy production was detected, partly because of numerically greater (euro6,822) variable costs on CMS farms. Dairy farms were compared financially based on the amount of money that was available for rent, depreciation, interest, labor, and profit (RDILP). The CMS farms had more money (euro15,566) available for RDILP than the AMS farms. This difference was caused by larger fixed costs (excluding labor) for the AMS farms, larger contractor costs (euro6,422), and larger costs for gas, water, and electricity (euro1,549). Differences in costs for contractors and for gas, water, and electricity were statistically significant. When expressed per full-time employee, AMS farms had greater revenues, margins, and gross margins per full-time employee than did CMS farms. This resulted in a substantially greater

DOES SHORT TERM DEBT AFFECT PROFITABILITY? EVIDENCE FROM THE ROMANIAN LISTED COMPANIES

Directory of Open Access Journals (Sweden)

MILOŞ LAURA RAISA

2015-12-01

Full Text Available This study aims at providing new empirical evidence on the influence of debt (both on short and long term on corporate profitability, with application to the Romanian companies listed on the Bucharest Stock Exchange. Panel data are analyzed for 50 companies belonging to different fields of activity during 2003-2014 using a fixed effect regression model. After we control for size, growth, liquidity, and tangibility of assets, the results reveal that short-term debt has a negative influence on corporate profitability.

THE INFLUENCE OF THE CONNECTIONS OF ROMANIAN NON-LISTED FIRMS TO TAX HAVENS ON THEIR PROFITABILITY

Directory of Open Access Journals (Sweden)

Mihai-Bogdan AFRASINEI

2016-12-01

Full Text Available The offshore entities have become one of the most efficient solutions for tax avoidance and are used by taxpayers almost all around the world. This paper investigates the influence of the connections (via subsidiaries or shareholders of Romanian non-listed firms to tax havens on their profitability and effective tax rate. In this regard, we used a sample of 7,167 Romanian firms (3,370 with connections to tax havens and 3,797 without tax havens connections. For statistical analysis, we used the simple and multiple linear regression methods with dummy variables. Results have shown that the presence of Romanian non-listed firms in tax havens significantly influences their profitability and effective tax rate. The firms with connections to tax havens have a return on equity ratio higher, a return on assets ratio lower, a gross profit margin ratio lower, a total assets turnover ratio higher and an effective tax rate lower than companies without connections to such jurisdictions.

Profitability and Technical Efficiency of Soybean Production in Northern Nigeria

Directory of Open Access Journals (Sweden)

Ugbabe, OO.

2017-01-01

Full Text Available The International Institute of Tropical Agriculture and collaborating partners have been introducing and disseminating short season soybean varieties among farm households in the Sudan savannas of Northern Nigeria since 2008. Yet, there is no empirical information on the profitability and technical efficiency of soybean production. This study estimated the profitability and efficiency of production of the early maturing soybean. Nine hundred soybean farming households in thirty communities from three Local Government Areas (LGAs in Kano State were sampled for the study. Partial budget technique and stochastic frontier production function were used to analyze the data elicited from the sampled farm households. Results from the study established the profitability of soybean production in all the three LGAs of Kano State. The highest profit of N178,613/ha and returns per naira invested of 2.5 respectively was earned by the soybean producing households of Dawakin-Tofa LGA. Net profit was N157,261in Shanono with a returns of 1.75 per naira invested. In Bunkure, net benefit was N143,342 with returns of 1.66 per Naira invested. The mean technical efficiency was highest for the Dawakin-Tofa LGA soybean growing households (87%, followed by Bunkure LGA (68%, and Shanono LGA (59%. This result implies that given the current level of resources available to the soybean producing households, they can increase their soybean output in the short run by a margin 13%, 32% and 41% in Dawakin-Tofa, Bunkure and Shanono LGAs respectively through efficient utilization of their available resources. Farmer-specific efficiency factors, which comprise age, education, access to credit, extension contact and farming experience, were found to be the significant factors that account for the observed variation in efficiency among the farmers in the 3 LGAs. It was recommended that the soybean farmers through the assistance of extension agents should be encouraged to adhere

Factorial Analysis of Profitability

OpenAIRE

Georgeta VINTILA; Ilie GHEORGHE; Ioana Mihaela POCAN; Madalina Gabriela ANGHEL

2012-01-01

The DuPont analysis system is based on decomposing the profitability ratio in factors of influence. This paper describes the factorial analysis of profitability based on the DuPont system. Significant importance is given to the impact on various indicators on the shares value and profitability.

Veblen effect, marginal utility of money, and money illusion

OpenAIRE

Malakhov, Sergey

2013-01-01

The paper discovers microeconomic mechanism of Veblen effect as well as of Giffen case as results of the negative marginal utility of money. The marginal utility of consumption also becomes negative. The total consumption-leisure utility is increased due to the increase in leisure time. This overall effect results in the phenomenon of money illusion on the macroeconomic level. This general effect has deep historical and institutional grounds and, in order to minimize its disequilibrium econom...

Effect of patient's age on the profitability of inpatient cardiac catheterization: a contribution margin analysis of frequently performed procedures over a 5-year period.

Science.gov (United States)

Plehn, Gunnar; Butz, Thomas; Maagh, Petra; Meissner, Axel

2017-01-18

Due to a continuing age shift in the German society hospital providers are concerned about the additional costs associated with the treatment of elderly patients. It is not clear if cardiac catheterization in aged patients leads to higher resource utilization and if DRG-revenues do compensate for this factor. Procedure-related and administrative data of all patients who underwent cardiac catheterization at a tertiary heart center between 2007 and 2011 were collected and analyzed. Then a profitability analysis was performed by comparing the case related variable costs with the Diagnosis-related group (DRG) per case revenues. A particular emphasis was placed on a comparative analysis of identical clusters of procedures. The most frequently performed catheterization procedure (n = 1800) was associated with significantly higher material expenditure in very old patients (178 ± 48 €) than in old (171 ± 28; p = 0.001) and young patients (172 ± 39; p = 0.046). Furthermore, radiation time and the length of hospital stay were increased in very old patients (3.5 ± 3.8 min and 6.2 ± 4.8 days) compared to old (2.7 ± 2.8 min and 4.6 ± 3.8 days; p < 0.001) and young patients (2.5 ± 2.5 min and 4.5 ± 3.9 days; p < 0.001). Due to higher DRG revenues very old patients achieved higher absolute contribution margins (2065 ± 1033 €) than old (1804 ± 1902 €; p < 0.001) and young patients (1771 ± 902 €; p < 0.001). However, the contribution margins per day were significantly smaller (440 ± 226 €) than those in old (488 ± 234 €; p = 0.001) and young patients (484 ± 206 €; p = 0.001). Catheterization of very old patients is related to lower contribution margins per day despite higher material and time expenditures. Since efforts to reduce the length of hospital stay of these patients are limited, this may result in a competitive disadvantage of hospitals which

Marginal production in the Gulf of Mexico - I. Historical statistics and model framework

International Nuclear Information System (INIS)

Kaiser, Mark J.

2010-01-01

Experts may disagree on when world oil production will peak, but there is general agreement that marginal fields will contribute a greater percentage of world supply in the future. As fields mature and operations transition into the later stages of their production cycle, decreasing revenue streams, higher operating costs, and fewer upside opportunities lead to declining profitability. Eventually, all properties are abandoned when cost exceeds the revenue of production. In this two-part paper on marginal production in the Gulf of Mexico, the number of marginal structures in the gulf and their expected contribution to future production is forecast using established economic models. In Part 1, a historical perspective on producing assets is provided and the inventory of committed assets is modeled and categorized. We operationalize the definition of marginal production based on a structure's economic limit. The model framework to identify marginal assets in the Gulf of Mexico is discussed and a step-by-step description of the methodology is provided. In Part 2, the results of the model are described. (author)

Financial Liberalization and Banking Profitability: a Panel Data analysis for Tunisian Banks

Directory of Open Access Journals (Sweden)

Hakimi Abdelaziz

2011-01-01

Full Text Available The financial liberalization policy was undertaken in several countries like in Tunisia in order to have modern and dynamic financial system. However, the consequences of this program are completely divergent from it’s waitings. In this paper, on the basis of data relating to 9 Tunisian banks over the period 1980-2009, and by adopting the panal data analysis, we will try to check the effect of financial liberalization on the Tunisian banking profitability. The results of our study show a negative and significative relation between financial liberalization and banking profitability.

CO2 cost pass-through and windfall profits in the power sector

International Nuclear Information System (INIS)

Sijm, Jos; Neuhoff, Karsten; Yihsu Chen

2006-01-01

In order to cover their CO 2 emissions, power companies receive most of the required EU ETS allowances for free. In line with economic theory, these companies pass on the costs of these allowances in the price of electricity. This article analyses the implications of the EU ETS for the power sector, notably the impact of free allocation of CO 2 emission allowances on the price of electricity and the profitability of power generation. As well as some theoretical reflections, the article presents empirical and model estimates of CO 2 cost pass-through for Germany and The Netherlands, indicating that pass-through rates vary between 60 and 100% of CO 2 costs, depending on the carbon intensity of the marginal production unit and various other market- or technology-specific factors. As a result, power companies realize substantial windfall profits, as indicated by the empirical and model estimates presented in the article. (Author)

Influence of radiation dose on positive surgical margins in women undergoing breast conservation therapy

International Nuclear Information System (INIS)

DiBiase, Steven J.; Komarnicky, Lydia T.; Heron, Dwight E.; Schwartz, Gordon F.; Mansfield, Carl M.

2002-01-01

Purpose: Positive surgical margins adversely influence local tumor control in breast conservation therapy (BCT). However, reports have conflicted regarding whether an increased radiation dose can overcome this poor prognostic factor. In this study, we evaluated the influence of an increased radiation dose on tumor control in women with positive surgical margins undergoing BCT. Methods and Materials: Between 1978 and 1994, 733 women with pathologic Stage I-II breast cancer and known surgical margin status were treated at Thomas Jefferson University Hospital with BCT. Of these 733 patients, 641 women had a minimal tumor bed dose of 60 Gy and had documentation of their margin status; 509 had negative surgical margins, and 132 had positive surgical margins before definitive radiotherapy. Complete gross excision of the tumor and axillary lymph node sampling was obtained in all patients. The median radiation dose to the primary site was 65.0 Gy (range 60-76). Of the women with positive margins (n=132), the influence of higher doses of radiotherapy was evaluated. The median follow-up time was 52 months. Results: The local tumor control rate for patients with negative margins at 5 and 10 years was 94% and 88%, respectively, compared with 85% and 67%, respectively, for those women with positive margins (p=0.001). The disease-free survival rate for the negative margin group at 5 and 10 years was 91% and 82%, respectively, compared with 76% and 71%, respectively, for the positive margin group (p = 0.001). The overall survival rate of women with negative margins at 5 and 10 years was 95% and 90%, respectively. By comparison, for women with positive surgical margins, the overall survival rate at 5 and 10 years was 86% and 79%, respectively (p=0.008). A comparison of the positive and negative margin groups revealed that an increased radiation dose (whether entered as a dichotomous or a continuous variable) >65.0 Gy did not improve local tumor control (p=0.776). On Cox

Working Capital Management and Firm Profitability. Empirical Evidence for the Romanian Industry

Directory of Open Access Journals (Sweden)

Miloş Marius Cristian

2017-01-01

Full Text Available The paper aims on empirically testing the connection between a firm's liquidity, or else a firm's ability to manage short-term liabilities, without undue stress and its profitability. We are using both a static and dynamic measure of firm liquidity: the traditional current liquidity ratio alongside one of the most frequent used working capital management indicator, the cash conversion cycle. An empirical analysis is performed based on 50 listed companies from Bucharest Stock Exchange, covering various industries. The empirical results are confirming the previous research that has confirmed the negative connection between the days sales outstanding (DSO, respectively the days inventory outstanding (DIO and the profitability of the firm, while cash conversion cycle seems to be positively connected with the firm profitability, in contradiction with some of the previous empirical literature.

Accounting principles, revenue recognition, and the profitability of pharmacy benefit managers.

Science.gov (United States)

McLean, Robert A; Garis, Robert I

2005-03-01

To contrast pharmacy benefit management (PBM) companies' measured profitability by using two accounting standards. The first accounting standard is that which, under Generally Accepted Accounting Principles (GAAP), PBMs are currently allowed to employ. The second accounting standard, seemingly more congruent with the PBM business model, treats the PBM as an agent of the plan sponsor. Financial Accounting Standards Board (FASB) Emerging Issues Task Force Issue 99-19, U.S. Securities and Exchange 10-K filings and financial accounting literature. Under GAAP record keeping, the PBM industry profitability appears modest. Using currently applied GAAP, the PBM treats all payment from the plan sponsor as revenue and all payment to the pharmacy as revenue. However, the PBM functions, in practice, as an entity that passes-through money collected from one party (the sponsor) to other parties (dispensing pharmacies). Therefore, it would seem that the nature of PBM cash flows would be more accurately recorded as a pass-through entity. When the PBM is evaluated using an accounting method that recognizes the pass-through nature of its business, the PBM profit margin increases dramatically. Current GAAP standards make traditional financial statement analysis of PBMs unrevealing, and may hide genuinely outstanding financial performance. Investors, regulators, pharmacies, and the FASB all have an interest in moving to clarify this accounting anomaly.

For-profit colleges.

Science.gov (United States)

Deming, David; Goldin, Claudia; Katz, Lawrence

2013-01-01

For-profit, or proprietary, colleges are the fastest-growing postsecondary schools in the nation, enrolling a disproportionately high share of disadvantaged and minority students and those ill-prepared for college. Because these schools, many of them big national chains, derive most of their revenue from taxpayer-funded student financial aid, they are of interest to policy makers not only for the role they play in the higher education spectrum but also for the value they provide their students. In this article, David Deming, Claudia Goldin, and Lawrence Katz look at the students who attend for-profits, the reasons they choose these schools, and student outcomes on a number of broad measures and draw several conclusions. First, the authors write, the evidence shows that public community colleges may provide an equal or better education at lower cost than for-profits. But budget pressures mean that community colleges and other nonselective public institutions may not be able to meet the demand for higher education. Some students unable to get into desired courses and programs at public institutions may face only two alternatives: attendance at a for-profit or no postsecondary education at all. Second, for-profits appear to be at their best with well-defined programs of short duration that prepare students for a specific occupation. But for-profit completion rates, default rates, and labor market outcomes for students seeking associate's or higher degrees compare unfavorably with those of public postsecondary institutions. In principle, taxpayer investment in student aid should be accompanied by scrutiny concerning whether students complete their course of study and subsequently earn enough to justify the investment and pay back their student loans. Designing appropriate regulations to help students navigate the market for higher education has proven to be a challenge because of the great variation in student goals and types of programs. Ensuring that potential

Profitability and occupational injuries in U.S. underground coal mines.

Science.gov (United States)

Asfaw, Abay; Mark, Christopher; Pana-Cryan, Regina

2013-01-01

Coal plays a crucial role in the U.S. economy yet underground coal mining continues to be one of the most dangerous occupations in the country. In addition, there are large variations in both profitability and the incidence of occupational injuries across mines. The objective of this study was to examine the association between profitability and the incidence rate of occupational injuries in U.S. underground coal mines between 1992 and 2008. We used mine-specific data on annual hours worked, geographic location, and the number of occupational injuries suffered annually from the employment and accident/injury databases of the Mine Safety and Health Administration, and mine-specific data on annual revenue from coal sales, mine age, workforce union status, and mining method from the U.S. Energy Information Administration. A total of 5669 mine-year observations (number of mines×number of years) were included in our analysis. We used a negative binomial random effects model that was appropriate for analyzing panel (combined time-series and cross-sectional) injury data that were non-negative and discrete. The dependent variable, occupational injury, was measured in three different and non-mutually exclusive ways: all reported fatal and nonfatal injuries, reported nonfatal injuries with lost workdays, and the 'most serious' (i.e. sum of fatal and serious nonfatal) injuries reported. The total number of hours worked in each mine and year examined was used as an exposure variable. Profitability, the main explanatory variable, was approximated by revenue per hour worked. Our model included mine age, workforce union status, mining method, and geographic location as additional control variables. After controlling for other variables, a 10% increase in real total revenue per hour worked was associated with 0.9%, 1.1%, and 1.6% decrease, respectively, in the incidence rates of all reported injuries, reported injuries with lost workdays, and the most serious injuries reported

Profitability and occupational injuries in U.S. underground coal mines☆

Science.gov (United States)

Asfaw, Abay; Mark, Christopher; Pana-Cryan, Regina

2015-01-01

Background Coal plays a crucial role in the U.S. economy yet underground coal mining continues to be one of the most dangerous occupations in the country. In addition, there are large variations in both profitability and the incidence of occupational injuries across mines. Objective The objective of this study was to examine the association between profitability and the incidence rate of occupational injuries in U.S. underground coal mines between 1992 and 2008. Data and method We used mine-specific data on annual hours worked, geographic location, and the number of occupational injuries suffered annually from the employment and accident/injury databases of the Mine Safety and Health Administration, and mine-specific data on annual revenue from coal sales, mine age, workforce union status, and mining method from the U.S. Energy Information Administration. A total of 5669 mine-year observations (number of mines × number of years) were included in our analysis. We used a negative binomial random effects model that was appropriate for analyzing panel (combined time-series and cross-sectional) injury data that were non-negative and discrete. The dependent variable, occupational injury, was measured in three different and non-mutually exclusive ways: all reported fatal and nonfatal injuries, reported nonfatal injuries with lost workdays, and the ‘most serious’ (i.e. sum of fatal and serious nonfatal) injuries reported. The total number of hours worked in each mine and year examined was used as an exposure variable. Profitability, the main explanatory variable, was approximated by revenue per hour worked. Our model included mine age, workforce union status, mining method, and geographic location as additional control variables. Results After controlling for other variables, a 10% increase in real total revenue per hour worked was associated with 0.9%, 1.1%, and 1.6% decrease, respectively, in the incidence rates of all reported injuries, reported injuries with lost

Role of specimen US for predicting resection margin status in breast conserving therapy.

Science.gov (United States)

Moschetta, M; Telegrafo, M; Introna, T; Coi, L; Rella, L; Ranieri, V; Cirili, A; Stabile Ianora, A A; Angelelli, G

2015-01-01

To assess the diagnostic accuracy of specimen ultrasound (US) for predicting resection margin status in women undergoing breast conserving therapy for US-detected cancer, having the histological findings as the reference standard. A total of 132 consecutive patients (age range, 34-87 years; mean, 51 years) underwent breast-conserving surgery for US-detected invasive breast cancer. All surgical specimens underwent US examination. The presence of lesion within the specimen and its distance from the specimen margins were assessed considering a threshold distance between the lesion and specimen margins of 10 mm. US findings were then compared with the pathological ones and specimen US. Sensitivity, specificity, diagnostic accuracy, positive (PPV) and negative predictive values (NPV) for predicting histological margin status were evaluated, having the histological findings as the reference standard. The histological examination detected invasive ductal carcinoma in 96/132 (73%) cases, invasive lobular carcinoma in 32/132 (24%), mucinous carcinoma in 4/132 (3%). The pathological margin analysis revealed 96/132 (73%) negative margins and 36 (27%) close/positive margins. US examination detected all 132 breast lesions within the surgical specimens. 110 (83%) negative margins and 22 (17%) positive margins were found on US. Sensitivity, specificity, diagnostic accuracy, PPV and NPV of 44%, 94%, 80%, 73% and 82%, respectively, were found for specimen US. Specimen US represents a time and cost saving imaging tool for evaluating the presence of US detected-breast lesion within surgical specimen and for predicting the histological margin status.

Whipple Resection: Concordance Between Frozen Section And Permanent Section Diagnosis Of Surgical Margins.

Science.gov (United States)

Bilal, Muhammad; Tariq, Hina; Mamoon, Nadira

2018-01-01

Margin assessment is done in Whipple procedures which are usually performed to resect tumours of head of pancreas and ampullary/periampullary region. Aims and objective of the study are to determine the concordance between frozen sections (FS) and permanent sections (PS) of surgical margins in Whipple resections. It is a retrospective study, from January 2008 to January 2015 (07 years). It includes the specimen with malignancy in final report and for which FS of pancreatic and/or CBD margin(s) were requested. Data was retrieved from Laboratory information system (LIS) database. Of the 41 bile duct margins in cases of ampullary tumours, 03 were positive on FS as well as PS, 35 were negative on FS as well as on PS. Results showed 100% sensitivity, 92.1% specificity, 50% PPV and 100% NPV. Results of 36 pancreatic margins in cases of ampullary showed 100% sensitivity, 97.1% specificity, 50% PPV and 100% NPV. In pancreatic carcinoma cases, none of CBD margins were reported as positive on FS, 02 margins reported as negative were found positive on PS, while 17 were negative on FS as well as PS. Results showed 100% specificity and 89.5% NPV. Of the 27 pancreatic margins tested in pancreatic tumours 100% sensitivity, 94.1% specificity, 88.9% PPV and 100% NPV was found. Factors such as absent prior tissue diagnosis and/or inflammatory processes make margin diagnosis difficult. However, a high concordance was observed between our FS and PS diagnosis.

The Impact Of Good Corporate Governance To Manufacturing Firm’s Profitability And Firm’s Value

Directory of Open Access Journals (Sweden)

Johanes Sumarno

2016-09-01

Full Text Available This paper studied the behavior of management toward the implementation of Good Corporate Governance in Indonesia to determine whether it has any influence towards profitability and its implication to the Manufacturing Firms’ value publicly listed in Indonesian Stock Exchange. There were 41 corporations who met the criteria of the survey. The data were analyzed using Panel Regression with fixed effects Model. The empirical findings show that the implementation of Corporate Governance in Indonesia has a positive, significant and direct impact toward firms’ profitability and firms’ value. Corporate Governance principles based on OECD principles that have positive and significant impact to both profitability and Firms’ Valueis Rights of Shareholders, Role of Stakeholders, Responsibilities of the Board Commissioners and Board of Directors. The principles that have significance and negative impact towards corporate profitability and value, are: Equitable treatment of shareholders and Disclosure and Transparencies. The most significant principle influencing profitability and firms’ value is Disclosure and Transparencies. Profitability plays a greater role in influencing Manufacturing Firms’ value in Indonesia. DOI: 10.15408/sjie.v5i2.3542

Persistent profitability of technical analysis on foreign exchange markets?

OpenAIRE

L. MENKHOFF; M. SCHLUMBERGER

1995-01-01

The effect of technical analyses on the performance of subsequent policies and actions in the foreign exchange markets is analysed using three cases. Results show that use of technical analyses is persistently profitable. Participants, however, tend to view short-term market risk as important and thus decide to forego some of the rules derived from technical analysis. This observation does not negate the theory on efficient learning.

Designing a Profit-Maximizing Critical Peak Pricing Scheme Considering the Payback Phenomenon

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Sung Chan Park

2015-10-01

Full Text Available Critical peak pricing (CPP is a demand response program that can be used to maximize profits for a load serving entity in a deregulated market environment. Like other such programs, however, CPP is not free from the payback phenomenon: a rise in consumption after a critical event. This payback has a negative effect on profits and thus must be appropriately considered when designing a CPP scheme. However, few studies have examined CPP scheme design considering payback. This study thus characterizes payback using three parameters (duration, amount, and pattern and examines payback effects on the optimal schedule of critical events and on the optimal peak rate for two specific payback patterns. This analysis is verified through numerical simulations. The results demonstrate the need to properly consider payback parameters when designing a profit-maximizing CPP scheme.

The Effect of Age at First Calving and Calving Interval on Productive Life and Lifetime Profit in Korean Holsteins

Directory of Open Access Journals (Sweden)

Changhee Do

2013-11-01

Full Text Available This study was performed to estimate the effect of age at first calving and first two calving intervals on productive life and life time profit in Korean Holsteins. Reproduction data of Korean Holsteins born from 1998 to 2004 and lactation data from 276,573 cows with birth and last dry date that calved between 2000 and 2010 were used for the analysis. Lifetime profit increased with the days of life span. Regression of Life Span on Lifetime profit indicated that there was an increase of 3,800 Won (approximately $3.45 of lifetime profit per day increase in life span. This is evidence that care of each cow is necessary to improve net return and important for farms maintaining profitable cows. The estimates of heritability of age at first calving, first two calving intervals, days in milk for lifetime, lifespan, milk income and lifetime profit were 0.111, 0.088, 0.142, 0.140, 0.143, 0.123, and 0.102, respectively. The low heritabilities indicated that the productive life and economical traits include reproductive and productive characteristics. Age at first calving and interval between first and second calving had negative genetic correlation with lifetime profit (−0.080 and −0.265, respectively. Reducing age at first calving and first calving interval had a positive effect on lifetime profit. Lifetime profit increased to approximately 2,600,000 (2,363.6 from 800,000 Won ($727.3 when age at first calving decreased to (22.3 month from (32.8 month. Results suggested that reproductive traits such as age at first calving and calving interval might affect various economical traits and consequently influenced productive life and profitability of cows. In conclusion, regard of the age at first calving must be taken with the optimum age at first calving for maximum lifetime profit being 22.5 to 23.5 months. Moreover, considering the negative genetic correlation of first calving interval with lifetime profit, it should be reduced against the present

Surgical Margins and the Risk of Local-Regional Recurrence After Mastectomy Without Radiation Therapy

International Nuclear Information System (INIS)

Childs, Stephanie K.; Chen Yuhui; Duggan, Margaret M.; Golshan, Mehra; Pochebit, Stephen; Wong, Julia S.; Bellon, Jennifer R.

2012-01-01

Purpose: Although positive surgical margins are generally associated with a higher risk of local-regional recurrence (LRR) for most solid tumors, their significance after mastectomy remains unclear. We sought to clarify the influence of the mastectomy margin on the risk of LRR. Methods and Materials: The retrospective cohort consisted of 397 women who underwent mastectomy and no radiation for newly diagnosed invasive breast cancer from 1998-2005. Time to isolated LRR and time to distant metastasis (DM) were evaluated by use of cumulative-incidence analysis and competing-risks regression analysis. DM was considered a competing event for analysis of isolated LRR. Results: The median follow-up was 6.7 years (range, 0.5-12.8 years). The superficial margin was positive in 41 patients (10%) and close (≤2 mm) in 56 (14%). The deep margin was positive in 23 patients (6%) and close in 34 (9%). The 5-year LRR and DM rates for all patients were 2.4% (95% confidence interval, 0.9-4.0) and 3.5% (95% confidence interval, 1.6-5.3) respectively. Fourteen patients had an LRR. Margin status was significantly associated with time to isolated LRR (P=.04); patients with positive margins had a 5-year LRR of 6.2%, whereas patients with close margins and negative margins had 5-year LRRs of 1.5% and 1.9%, respectively. On univariate analysis, positive margins, positive nodes, lymphovascular invasion, grade 3 histology, and triple-negative subtype were associated with significantly higher rates of LRR. When these factors were included in a multivariate analysis, only positive margins and triple-negative subtype were associated with the risk of LRR. Conclusions: Patients with positive mastectomy margins had a significantly higher rate of LRR than those with a close or negative margin. However, the absolute risk of LRR in patients with a positive surgical margin in this series was low, and therefore the benefit of postmastectomy radiation in this population with otherwise favorable features

Comparative profitability of onions harvested as green and dry (mature in Botswana

Directory of Open Access Journals (Sweden)

S.P. Baliyan

2013-06-01

Full Text Available This study was an attempt to calculate and compare the profitability of onions harvested as green and dry (mature in Botswana. Half of the planted onions were harvested and sold as green and half were harvested and sold as dry onions. The cost of production of green onions was 32.78% higher than the cost of production of dry onions. The irrigation and marketing expenses contributed the highest difference in the cost of production of green and dry onions. The major cost item contributing to the cost of green onions production was marketing cost (32.86% followed by irrigation cost (23.77% and harvesting cost (18.53% whereas the highest cost of production for dry onions was contributed by irrigation (38.58% followed by marketing (19.45% and planting (11.96%. The marketing cost for green onions was almost double (35.6% as compare to the dry onions (18.2%. The total return from green onions was 50.90% higher than the returns from dry onions. Gross margin of onions harvested as green was 63% higher than the gross margin from dry onions, which indicated that the production of green onions is more profitable as compare to production of dry onions. The farmers preferred onion harvested as green because it generates regular and higher returns than onions harvested as mature. Government should support farmers through some policies such as Minimum Support Price (MSP for dry onions, distribution of Mini Ferti–Seed Kit (Seeds of improved varieties and fertilizer package, construction of storages and formation of cooperatives.

Profit vs. Purpose

DEFF Research Database (Denmark)

Strand, Robert

2017-01-01

Money helps us meet our basic needs, but what about our need for meaning? Businesses will profit — not just financially — by finding their souls.......Money helps us meet our basic needs, but what about our need for meaning? Businesses will profit — not just financially — by finding their souls....

HealthSouth's inpatient rehabilitation facilities: how does their performance compare with other for-profit and nonprofit inpatient rehabilitation facilities?

Science.gov (United States)

McCue, Michael J; Thompson, Jon M

2010-05-01

To assess the financial and operational differences in freestanding inpatient rehabilitation facilities (IRFs) that are operated by HealthSouth Corporation relative to other for-profit and nonprofit system-affiliated ownership groups. Since 2003, when it faced fraud charges and financial penalties, HealthSouth has experienced new management and refocused its business strategy. Because HealthSouth is the largest provider of freestanding IRF services, it is important to understand how their performance may differ relative to other ownership groups. We used the Mann-Whitney U test to assess differences in median values for financial and operational variables of HealthSouth-owned IRFs compared with other for-profit system IRFs and nonprofit system IRFs. System-affiliated freestanding IRFs in the United States. Sixty-four HealthSouth IRFs, 18 nonprofit system-affiliated IRFs, and 18 for-profit system-affiliated IRFs. Not applicable. Net patient revenue per adjusted discharge, operating expense per adjusted discharge, salary expense per full-time equivalent, and cash flow margin. HealthSouth IRFs had significantly lower net patient revenue per adjusted discharge and operating expense per adjusted discharge; however, its cash flow margin was significantly higher than other comparison groups. HealthSouth IRFs treated a higher case mix of patients relative to these comparison groups. The financial and operating performance of HealthSouth IRFs is stronger than other ownership groups. Strong cash flow will enable HealthSouth to pay down long-term debt.

Civil society: beyond non profit / Sociedad civil: más allá del non profit

Directory of Open Access Journals (Sweden)

Miguel de Haro Serrano

2013-10-01

Full Text Available For a numerous group of recognized and proved authority authors, the Civil Society is limited to the Non Profit organizations. Non Profit is the great limit, the rigid and static border. The limes on the Roman Empire were less overwhelming than the non profit of certain academics. Dura lex and unfair law that keeps aside from the civil society scope the entities on the social economy and the whole market around mercantile enterprises and businesses. Nevertheless, the new changes in the today’s society and the new concept of businesses oriented to the society without forsaking the quest for economic profit, poses a Civil Society beyond non profit.

Success under duress: policies and practices managers view as keys to profitability in five California hospitals with challenging payer mix.

Science.gov (United States)

Rundall, Thomas; Oberlin, Shelley; Thygesen, Brian; Janus, Katharina

2012-01-01

Hospitals with a challenging payer mix (CPM)-high proportions of uninsured and Medicaid patients and a low proportion of commercially insured patients-are an important source of care for low-income, uninsured people. Achieving profitability is difficult for CPM hospitals. From 2005 through 2008, only one-third of 67 CPM hospitals in California reported positive total margins. In-depth group interviews were completed with the management leadership teams of a diverse group of five profitable CPM hospitals to identify the management strategies and practices that the hospitals' leadership teams credited for their financial success. Twelve management policy and practice topics were identified. Four of the policies and practices that managers identified involve organizational actions to increase hospital revenue or operational efficiency. These factors are consistent with those identified in previous research. However, managers also identified eight factors not previously revealed in research on hospital profitability, including management policies and practices that establish the organizational culture, workforce, relationships, monitoring systems, and governance necessary to ensure that hospital employees and affiliated physicians support and successfully implement organizational actions necessary to achieve profitability.

Professional Commitment and Professional Marginalism in Teachers

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Kalashnikov A.I.

2017-11-01

Full Text Available The article reviews teachers' attitudes towards the teaching profession which can be expressed both in professional commitment and in professional marginalism. The dominance of professional marginalism could affect destructively the students as well as the teacher’s personality, hence the issues related to the content of personal position of a marginal and the rate of marginalism among teachers. It was suggested that marginalism could be revealed in the study of professional commitment. The study involved 81 teachers of Sverdlovsk secondary schools aged 21—60 years with work experience ranging from 1 month to 39 years. The Professional Commitment Questionnaire was used as the study technique. The results showed that negative emotional attitude towards the profession and reluctance to leave the profession were grouped as a separate factor. The dispersion factor was 12,5%. The factor loadings ranged from 0.42 to 0.84. The study proved that professional marginalism in teachers includes dissatisfaction with work, feelings of resentment against profession and an unwillingness to leave the profession.

Management trends: Internationalization of non-profit organizations

Directory of Open Access Journals (Sweden)

Inić Branimir P.

2015-01-01

Full Text Available Non-profit organizations are increasingly gaining importance in the modern economy with their development and their numbers increasing day by day. It is very important to note that non-profit organizations are often subject to various benefits that the for-profit companies are not. Thus, for example, preferential tax status of non-profit organizations is manifested primarily in the form of exemption from corporate income tax. In addition, private non-profit organizations enjoy various other state, local and federal taxes exemptions. Under certain conditions, these organizations are exempt from taxes on donations and membership fees. A feature that differentiates various non-profit organizations and profit-oriented companies is their source of income. Profit oriented companies depend on their income, obtained from sales of their goods or services to customers, who usually cover the price and cost of goods and services plus the profit. In contrast, nonprofit organizations are very dependent on membership fees, tax exemptions, members donations or depend on funds of the sponsoring agency which covers most of their costs, for example a federal government agency. Those non-profit organizations that have substantial operating costs beyond national borders and do not identify themselves as purely domestic in their mandate are International non-profit organizations. Most non-profit organizations remain in their national boundaries, on the territory of the country in which they were created, but a large number of non-profit organizations rapidly internationalize, and some larger non-profits have grown into important global actors. The paper includes the following sections: (1 introduction, (2 why is the 'non-profit' important, (3 the internationalization of non-profit organizations, (4 sources of income of non-profit organizations (4.1. causality of impact and of strategic decisions in cases pertaining to universities, (5 the limits of strategic

Windfalls and other profits

International Nuclear Information System (INIS)

Verbruggen, Aviel

2008-01-01

'Windfall profits' again is a popular term, but mostly the term is used inappropriately. This short article discusses why, and proposes a more complete taxonomy of profits. There exists little ground and need for policy to act against genuine windfalls, while the contrary holds for other excessive earnings. Very few windfalls, freely fallen down from winds in the sky, occur after observed excessive profits are stripped from deliberate man-made interventions. That is why clear identification and correct language are needed

How to sell services more profitably.

Science.gov (United States)

Reinartz, Werner; Ulaga, Wolfgang

2008-05-01

When products become commodities, manufacturing companies may seek to differentiate themselves with value-added services--a potentially profitable strategy. Unfortunately, companies often stumble in the effort. Reinartz and Ulaga conducted in-depth studies of 18 leading companies in a broad variety of product markets to learn what distinguished the successes from the rest. They discovered four steps to developing a profitable services capability. RECOGNIZE THAT YOU ALREADY HAVE A SERVICE COMPANY: You can identify and charge for simple services--as Merck did when it stopped quietly absorbing shipping costs. Switching services from free to fee clarifies their value for managers as well as for customers. INDUSTRIALIZE THE BACK OFFICE: To prevent delivery costs from eating up service-offering margins, build flexible service platforms, closely monitor process costs, and exploit new technologies that enable process innovations. The Swedish bearings manufacturer SKF provided off-site access to an online monitoring tool that could warn of potential failure in customers' machines. CREATE A SERVICE-SAVVY SALES FORCE: Services require longer sales cycles and, often, decisions from high up in a customer's hierarchy; what's more, product salespeople may be inimical to change. Schneider-Electric did a major overhaul of its sales organization and trained its people to switch from cost-plus pricing to value-based pricing. FOCUS ON CUSTOMERS' PROCESSES AND THE OPPORTUNITIES THEY AFFORD FOR NEW SERVICE OFFERINGS: You may need to acquire new capabilities to take advantage of those opportunities: The industrial coatings specialist PPG had to learn how painting robots function after it offered to take over Fiat's Torino paint shop. Services can both lock in customers and help acquire new accounts. They should be developed with care and attention.

An early view of the impact of deregulation and managed care on hospital profitability and net worth.

Science.gov (United States)

Jordan, W J

2001-01-01

This study shows the impact of the removal of hospital rate regulation followed by the growth of managed care on hospitals' profitability and net worth. New Jersey emerged from a regulated prospective payment system in 1992. The transition to a freely competitive market structure had a negative impact on hospital profitability, net worth, patient length of stay, and other measures of capacity utilization. Similarly, the doubling of the HMO penetration rate in the state between 1995 and 1997 is shown to have negatively influenced hospital financial viability. Hospitals have responded in part by increasing usage of outpatient services. The use of discounted fee-for-service instead of per diem reimbursement for outpatient services provides an incentive for hospitals to favor outpatient over inpatient services. The effect of these changes is detailed, along with data showing that the larger discounts given by hospitals to managed care organizations, Medicare, and Medicaid played an important role in explaining the diminished profitability of hospitals.

A strategy for enhancing financial performance: a study of general acute care hospitals in South Korea.

Science.gov (United States)

Choi, Mankyu; Lee, Keon-Hyung

2008-01-01

In this study, the determinants of hospital profitability were evaluated using a sample of 142 hospitals that had undergone hospital standardization inspections by the South Korea Hospital Association over the 4-year period from 1998 to 2001. The measures of profitability used as dependent variables in this study were pretax return on assets, after-tax return on assets, basic earning power, pretax operating margin, and after-tax operating margin. Among those determinants, it was found that ownership type, teaching status, inventory turnover, and the average charge per adjusted inpatient day positively and statistically significantly affected all 5 of these profitability measures. However, the labor expenses per adjusted inpatient day and administrative expenses per adjusted inpatient day negatively and statistically significantly affected all 5 profitability measures. The debt ratio negatively and statistically significantly affected all 5 profitability measures, with the exception of basic earning power. None of the market factors assessed were shown to significantly affect profitability. In conclusion, the results of this study suggest that the profitability of hospitals can be improved despite deteriorating external environmental conditions by facilitating the formation of sound financial structures with optimal capital supplies, optimizing the management of total assets with special emphasis placed on inventory management, and introducing efficient control of fixed costs including labor and administrative expenses.

Profitables Food & Beverage Management

OpenAIRE

Studer, Adrian; Blatter, Martin; Glenz-Mounir, Chantal

2008-01-01

Die Diplomarbeit befasst sich mit dem Thema „Profitables Food & Beverage Management“, es geht darum, wie Restaurationsstätten, Beherbergungsbetriebe und Campingbetreiber ihren Umsatz innerhalb kürzester Zeit um 6 bis 8 % und den Gewinn um 8 bis 10 % steigern können. Grundlage für die Diplomarbeit ist das Buch „Profitables Food & Beverage Management“ von Urs Schaffer1 und die angebotenen Kurse von ritzy*2. Mit dem Buch und dem Module Profit Management auf dem ritzycampus3 haben die Wirte, Hote...

Health care joint ventures between tax-exempt organizations and for-profit entities.

Science.gov (United States)

Sanders, Michael I

2005-01-01

Health care exempt organizations have many options regarding their structure and affiliations with for-profit entities. As long as any joint ventures are carefully structured and the nonprofit retains control over the exempt health care activities, the Internal Revenue Service should not question the structure. However, as outlined above, if the for-profit entity effectively gains control over the activities of the venture, the structure is not likely to be upheld by the IRS or the courts, and either the exempt status of the nonprofit will be denied or revoked, or health care income will be subject to the unrelated business income tax. In summary, the health care industry has been severely impacted by many economic forces, including uncertainty in the area of joint ventures between nonprofits and for-profit health care systems. The uncertainty as to whether the joint venture would negatively impact the nonprofit's tax-exempt status undoubtedly caused many nonprofits to form for-profit subsidiaries and otherwise expanded operations in a for-profit marketplace. Fortunately, with the guidance that is currently available in the form of Revenue Ruling 98-15, Redlands, St. David's, and now Revenue Ruling 2004-51, health care institutions can move forward with properly structured joint ventures with greater confidence that the joint venture will not endanger the tax-exempt status of the nonprofit.

Management of Enterprise Profit: Theory and Methodology

Directory of Open Access Journals (Sweden)

Nadezhda Sergeevna Piontkevich

2015-12-01

Full Text Available Effective management of financial activity of commercial organization promotes achievement of the main objective of its activity – receiving profit. Both external and internal factors causing specifics of financial management of organization in the field of management of profit have impact on this process. In modern conditions of economic development this problem gains the greatest relevance, and new approaches for its decision are required. In the present article the author’s theoretical and methodological approach to profit management of organization is offered: its application is connected with revision of acting control system of enterprise profit on the basis of assessing the initial condition of profit, planning the demanded profit level, periodical monitoring condition of planned values on profit, and also adoption of flexible administrative decisions on reduction of deviations and increasing the efficiency of organization activity. The system of profit formation including corresponding income and expenses of organization is presented. Methods of revenue planning are characterized. The characteristics of income and expenses connected with non-operating operations and transactions is given. The essence of the main directions of using enterprise profit is revealed. Need of application of author’s technique of management of profit of organization taking into account influence of external and internal factors is proved. The universal purpose of management of profit of organization and a task providing achievement of the goal are formulated . Tools of assessment efficiency of the system of formation and use of profit which is actually created in organization are offered. The methodical approach to planning of profit allowing to increase efficiency of activity of organization is presented. The mechanism of an assessment deviations of planned indicators of effective management of profit from actual and adoptions of correcting decisions on

For fun and profit a history of the free and open source software revolution

CERN Document Server

Tozzi, Christopher

2017-01-01

In the 1980s, there was a revolution with far-reaching consequences -- a revolution to restore software freedom. In the early 1980s, after decades of making source code available with programs, most programmers ceased sharing code freely. A band of revolutionaries, self-described "hackers," challenged this new norm by building operating systems with source code that could be freely shared. In For Fun and Profit, Christopher Tozzi offers an account of the free and open source software (FOSS) revolution, from its origins as an obscure, marginal effort by a small group of programmers to the widespread commercial use of open source software today. Tozzi explains FOSS's historical trajectory, shaped by eccentric personalities -- including Richard Stallman and Linus Torvalds -- and driven both by ideology and pragmatism, by fun and profit. Tozzi examines hacker culture and its influence on the Unix operating system, the reaction to Unix's commercialization, and the history of early Linux development. He describes ...

Breast Conservation Therapy: The Influence of Molecular Subtype and Margins

International Nuclear Information System (INIS)

Demirci, Senem; Broadwater, Gloria; Marks, Lawrence B.; Clough, Robert; Prosnitz, Leonard R.

2012-01-01

Purpose: To evaluate treatment results and prognostic factors, especially margin status and molecular subtype, in early-stage breast cancer patients treated with breast conservation therapy (BCT). Methods and Materials: The records of 1,058 Stage I or II breast cancer patients treated with BCT (surgical excision plus radiotherapy) at Duke University Medical Center, Durham, North Carolina, from 1985–2005 were retrospectively reviewed. Conventional receptor analyses were used as surrogate markers for molecular subtype classification (luminal A, luminal B, Her2 positive, and basal like). Actuarial estimates of overall survival (OS), cause-specific survival (CSS), failure-free survival, and locoregional control (LRC) were computed by use of Kaplan-Meier plots. We analyzed prognostic variables for significance using Cox proportional hazards univariate and multivariate analysis. The study was approved by the Duke University Medical Center Institutional Review Board. Results: The median age of the patients was 56 years (range, 18–89 years). Of the patients, 80% had T1 disease and 66% N0 disease pathologically. With a median follow-up of 9.8 years, an in-breast recurrence developed in 53 patients and 10 patients had nodal failure. For all patients, the 10-year CSS rate was 94%; LRC rate, 94%; and failure-free survival rate, 88%. Luminal A patients had a CSS rate of 95% and LRC rate of 99%. Basal-type patients appeared to do worse, with regard to both CSS rate (74%) and LRC rate (76%), but the numbers were small and the difference was not statistically significant. LRC rates of patients with negative margins (widely negative, close, and extent of margin not known) were virtually identical (93%, 96%, and 94%, respectively). Those with positive margins appeared to fare slightly worse based on LRC rate (88%), but again, the numbers were small and the difference was not statistically significant. Conclusions: BCT remains the treatment of choice for early-stage breast cancer

Breast Conservation Therapy: The Influence of Molecular Subtype and Margins

Energy Technology Data Exchange (ETDEWEB)

Demirci, Senem, E-mail: senem.demirci@ege.edu.tr [Department of Radiation Oncology, Duke University Medical Center, Durham, NC (United States); Department of Radiation Oncology, Ege University Faculty of Medicine, Izmir (Turkey); Broadwater, Gloria [Department of Biostatistics and Bioinformatics, Duke Cancer Institute, Durham, NC (United States); Cancer and Leukemia Group B Statistical Center, Duke Cancer Institute, Durham, NC (United States); Marks, Lawrence B. [Department of Radiation Oncology, University of North Carolina School of Medicine, Chapel Hill, NC (United States); Clough, Robert; Prosnitz, Leonard R. [Department of Radiation Oncology, Duke University Medical Center, Durham, NC (United States)

2012-07-01

Purpose: To evaluate treatment results and prognostic factors, especially margin status and molecular subtype, in early-stage breast cancer patients treated with breast conservation therapy (BCT). Methods and Materials: The records of 1,058 Stage I or II breast cancer patients treated with BCT (surgical excision plus radiotherapy) at Duke University Medical Center, Durham, North Carolina, from 1985-2005 were retrospectively reviewed. Conventional receptor analyses were used as surrogate markers for molecular subtype classification (luminal A, luminal B, Her2 positive, and basal like). Actuarial estimates of overall survival (OS), cause-specific survival (CSS), failure-free survival, and locoregional control (LRC) were computed by use of Kaplan-Meier plots. We analyzed prognostic variables for significance using Cox proportional hazards univariate and multivariate analysis. The study was approved by the Duke University Medical Center Institutional Review Board. Results: The median age of the patients was 56 years (range, 18-89 years). Of the patients, 80% had T1 disease and 66% N0 disease pathologically. With a median follow-up of 9.8 years, an in-breast recurrence developed in 53 patients and 10 patients had nodal failure. For all patients, the 10-year CSS rate was 94%; LRC rate, 94%; and failure-free survival rate, 88%. Luminal A patients had a CSS rate of 95% and LRC rate of 99%. Basal-type patients appeared to do worse, with regard to both CSS rate (74%) and LRC rate (76%), but the numbers were small and the difference was not statistically significant. LRC rates of patients with negative margins (widely negative, close, and extent of margin not known) were virtually identical (93%, 96%, and 94%, respectively). Those with positive margins appeared to fare slightly worse based on LRC rate (88%), but again, the numbers were small and the difference was not statistically significant. Conclusions: BCT remains the treatment of choice for early-stage breast cancer

Profitability of different storage technologies in the mid-term; Wirtschaftlichkeit unterschiedlicher Speichertechnologien im mittelfristigen Zeitbereich

Energy Technology Data Exchange (ETDEWEB)

Witzenhausen, A.; Drees, T.; Breuer, C.; Stein, D. vom; Moser, A. [RWTH Aachen (Germany). Inst. fuer Elektrische Anlagen und Energiewirtschaft (IAEW)

2013-07-01

The transition of the energy system to a system based on renewable energies leads to new requirements for the balancing of load and generation at any time. One of the main flexibility options, besides flexibility of thermal generation and demand side management, are storages. Therefore, a strong discussion on cost-efficiency of storages in the future electricity system exists. Consequently this paper aims at developing a methodology to evaluate the profitability of storages under special consideration of the different electricity markets (e. g. spot and balancing). For this, future prices for spot and balancing (both power and energy) are simulated by application of a fundamental model of the future electricity market. Based on these prices the profitability of storages is analyzed by methods of power plant dispatch. Concluding different storage technologies (e. g. pumped hydro, batteries) are compared considering necessary investment costs and achieved contribution margins.

Flood offers new hope for marginal oil fields

Energy Technology Data Exchange (ETDEWEB)

1966-03-14

The economics of producing a marginal Cardium sand oil field in west-central Alberta have been greatly improved by introduction of an inexpensive waterflood pressure maintenance and secondary recovery project. Canadian Gridoil Ltd. is now in full operation at its Willesden Green Cardium Unit No. 5. Of the 8.1 million bbl estimated original oil in place, only 9% would have been recoverable by primary depletion. The waterflood is calculated to add 13%, for ultimate recovery of 22% or 1.8 million bbl. This waterflood installation is considered a prototype of economical and profitable pressure maintenance systems which can be built to advantage in marginal oil fields in Alberta. Ultimate returns in the form of increased oil production and more than doubled oil recovery will be immensely greater than the capital investment of $195,000 in the facilities. Assuming GOR control and full well allowables, the entire capital cost should be paid out within 3 years. Life of the field is estimated at not less than 25 years.

Profitability primer: a guide to profitability analysis in the electric power industry

International Nuclear Information System (INIS)

Woo, C.K.; Lloyd-Zannetti, D.; Martin, J.; Price, S.

1996-06-01

As the electric power industry is opened to forces of competition, increased attention must be focused to develop products and services that deliver good value to customers and to identify customer segments that are profitable to serve. This primer introduces the concept of profitability analysis and its application to the electric power industry. The primer recognizes that some segments of the business will remain monopolistic and subject to regulations, while other segments will become competitive. The primer also recognizes that customer profitability is critically dependent on a host of related issues such as how internal costs are allocated to various functions and how revenues are collected and allocated

Models of Anaylzing the Influence of Factors on Forming Profit Rate

Directory of Open Access Journals (Sweden)

Klara S. Jakovčević

2014-04-01

Full Text Available The analysis in this paper is focused on identifying the impact of individual factors on the elements of the profit rate. The primary aim of this work is a methodological overview of solutions for understanding the full content of the profit rate as a cause of economic quality as well as indicators of the results of reproduction. Application of model analysis of profit rate factors was performed in an enterprise from Serbia that manufactures construction materials from baked clay. The aim is of application is to test the range in determining elements and factors of economic success of the enterprise, and quantification of changes in its assumptions. The results are useful guideline for the management to take organizational measures to increase the economic success of the enterprise. This means eliminating the negative, emphasizing the positive impact of objectively, and organizational factors to make higher economic success. Based on empirical research, it could be concluded that the proposed quantitative models of analyzing the dynamics of enterprise business quality could be applied in practice.

Informing practice regarding marginalization: the application of the Koci Marginality Index.

Science.gov (United States)

Koci, Anne Floyd; McFarlane, Judith; Nava, Angeles; Gilroy, Heidi; Maddoux, John

2012-12-01

The 49th World Health Assembly of the World Health Organization (WHO) declared violence as the leading worldwide public health problem with a focus on the increase in the incidence of injuries to women. Violence against women is an international epidemic with specific instruments required to measure the impact on women's functioning. This article describes the application of the Koci Marginality Index (KMI), a 5-item scale to measure marginality, to the baseline data of a seven-year prospective study of 300 abused women: 150 first time users of a shelter and 150 first time applicants for a protection order from the justice system. Validity and reliability of the Koci Marginality Index and its usefulness for best clinical practice and for policy decisions for abused women's health are discussed. The 49th World Health Assembly of the World Health Organization (WHO) declared violence as the leading worldwide public health problem and focused on the increase in the incidence of injuries to women (Krug et al., 2002 ). Violence against women in the form of intimate partner violence (IPV) is costly in terms of dollars and health. In the United States in 2003, estimated costs of IPV approached $8.3 billion (Centers for Disease Control and Prevention [CDC], 2011). Outcomes related to severity of IPV vary but in 2003 victims suffering severe IPV lost nearly 8 million days of paid work, and greater than 5 million days of household productivity annually (CDC, 2011). Besides the evident financial cost of IPV, research confirms that exposure to IPV impacts a woman's health immediately and in the long-term (Breiding, Black, & Ryan, 2008 ; Campbell, 2002 ; CDC, 2011). Such sequela adversely affect the health of women and may increase their marginalization, a concept akin to isolation that may further increase negative effects on health outcomes. Immigrant women are at high risk for IPV (Erez, 2002 ) and those without documentation are at higher risk for marginalization (Montalvo

Measuring Customer Profitability in Complex Environments

DEFF Research Database (Denmark)

Holm, Morten; Kumar, V.; Rohde, Carsten

2012-01-01

Customer profitability measurement is an important element in customer relationship management and a lever for enhanced marketing accountability. Two distinct measurement approaches have emerged in the marketing literature: Customer Lifetime Value (CLV) and Customer Profitability Analysis (CPA...... propositions. Additionally, the framework provides design and implementation guidance for managers seeking to implement customer profitability measurement models for resource allocation purposes....... that the degree of sophistication deployed when implementing customer profitability measurement models is determined by the type of complexity encountered in firms’ customer environments. This gives rise to a contingency framework for customer profitability measurement model selection and five research...

University partnerships with the corporate sector faculty experiences with for-profit matriculation pathway programs

CERN Document Server

Winkle, Carter

2013-01-01

Carter Winkle provides emperically derived insight into both positive and negative implications of the contemporary phenomena of partnerships between universities and private, for-profit educational service providers resulting in matriculation pathway programs for non-native English speaking students in the United States.

La maximisation du taux de profit

OpenAIRE

De Mesnard, Louis

1991-01-01

On the traditional micro-economic theory, firms are supposed to maximise pure profit. We study what happened when we take into consideration shareholders and the financial profit remunerating the financial capital. We show that it is necessary to surrender the financial profit maximisation to use the rate of financial profit maximisation. The cases of concurrence with fix coefficient of capital, monopoly with fix coefficient of capital, monopoly with variable coefficient of capital are studie...

The Impact of Foreign Banks Presence on the Performance of Domestic Banks in Kosovo during the Period 2001-2007

Directory of Open Access Journals (Sweden)

Driton Balaj

2010-12-01

Full Text Available The purpose of this study is to empirically research the impacts of the foreign bank’spresence on the performance of domestic banking sector in Kosovo. The research data on foreign anddomestic banking are quarterly time seri data gathered by the Central Bank for the period 2001-2007.By using the compatible data on seven commercial banks, we introduce how the net interest margin,non interest margin, overhead cost, tax paid, and profitability differ between the foreign and domesticbanks. We find that the foreign banks have higher net interest margin and profit than the domesticbanks. The research outcome indicates that the presence of foreign banks had a negative andstatistically significant impact on the net interest margin and loan loss provision of domestic banks,but positively related to the non-interest income, overhead cost and profitability of domestic banks,but we did not find any statistically significant values. The general conclusion is that the presence offoreign banks has not influenced on the increase of competitiveness.

Combining purpose with profits

NARCIS (Netherlands)

Birkinshaw, J.; Foss, N.J.; Lindenberg, S.M.

2014-01-01

Is it possible for a company to strive for a higher purpose while also delivering solid profits? Some have argued that pursuing goals other than making money means, by definition, spending on things that aren't profit-maximizing. Others have countered that by investing in worthwhile causes the

Profitability analysis of KINGLONG nearly 5 years

Science.gov (United States)

Zhang, Mei; Wen, Jinghua

2017-08-01

Profitability analysis for measuring business performance and forecast its prospects play an important role. In this paper, the research instance King Long Motor in understanding the basic theory on the basis of financial management, to take a combination of theory and data analysis methods, combined with a measure of profitability related indicators of King Long Motor company’s profitability do a specific analysis to identify factors constraining the profitability of Kinglong company exists and the motivation to improve profitability, which made recommendations to improve the profitability of Kinglong car company to promote the company’s future can be better and faster development.)

COMPETITIVENESS AND PROFITABILITY OF BEEF CATTLE FEEDLOT IN THE SOUTH OF THE STATE OF MEXICO

Directory of Open Access Journals (Sweden)

Alfredo Rebollar-Rebollar

2011-05-01

Full Text Available This study was carried out in the South of the State of Mexico during the period of January to June of 2009, it was based on information provided by 24 producers beef cattle feedlot, classified in small, medium and great according to the number of finalized animals. The Policy Analysis Matrix (PAM method was used, consisting of a set of matrices of technical coefficients and input prices, from which a private budget matrix was derived. The three layers of producers showed a positive profitability on private prices that varied from 4 to 16 %. The private cost relationships varied between 0.50 and 0.79 that suggests a high competitiveness. It was concluded that for 2009 the production of beef cattle feedlot is possible to pay the market price of internal factors, including the rate of normal capital return, as a result of a positive net income margin obtained, reason why this activity is considered as profitable.

An ethical justification of profit maximization

DEFF Research Database (Denmark)

Koch, Carsten Allan

2010-01-01

In much of the literature on business ethics and corporate social responsibility, it is more or less taken for granted that attempts to maximize profits are inherently unethical. The purpose of this paper is to investigate whether an ethical argument can be given in support of profit maximizing...... behaviour. It is argued that some form of consequential ethics must be applied, and that both profit seeking and profit maximization can be defended from a rule-consequential point of view. It is noted, however, that the result does not apply unconditionally, but requires that certain form of profit (and...... utility) maximizing actions are ruled out, e.g., by behavioural norms or formal institutions....

Financial standards for HMOs.

Science.gov (United States)

Parsons, Robert J; Gustafson, Gary; Nelson, Ray D; Murray, Bruce P; Dwore, Richard B

2002-02-01

In today's health care environment, it is important to assess the liquidity and profitability performance of HMOs. This study focuses on three liquidity ratios and three profitability ratios derived from national databases of between 740 and 776 HMOs from 1996 to 1999. Most of the HMOs appear to be using more debt and are less liquid now than they were in 1995. Since administrative overhead costs and dollars spent on medical costs have been increasing, HMOs' margins have been consistently negative. A more careful analysis of overhead costs and the cost of the delivery of medical services could result in improved HMO quality of care, efficiencies, and a return to positive profit margins.

Net profit flow per country from 1980 to 2009: The long-term effects of foreign direct investment.

Science.gov (United States)

Akkermans, Dirk H M

2017-01-01

The paper aims at describing and explaining net profit flows per country for the period 1980-2009. Net profit flows result from Foreign Direct Investment (FDI) stock and profit repatriation: inward stock creating a profit outflow and outward FDI stock a profit inflow. Profit flows, especially 'normal' ones are not commonly researched. According to world-system theory, countries are part of a system characterised by a core, semi-periphery and periphery, as shown by network analyses of trade relations. Network analyses based on ownership relations of TransNational Corporations (TNCs) show that the top 50 firms that control about 40% of the world economy are almost exclusively located in core countries. So, we may expect a hierarchy in net profit flows with core countries on top and the periphery at the bottom. FDI outflows from the core countries especially rose in the 1990s, so we may expect that the difference has grown in time. A dataset on 'net profit flow' per country is developed. There are diverging developments in net profit flows since the 1980s, as expected: ever more positive for core countries, negative and ever lower for semi-peripheral and peripheral countries, in particular from the 1990s onwards. A fixed effects quantile regression using publicly available data confirms the prediction that peripheral countries share a unique characteristic: their outward investments do not have a positive influence on net profit flow as is the case with semi-peripheral and core countries. The most probable explanation is that peripheral outward investments are indirectly owned by firms located in core and semi-peripheral countries, so all peripheral profit inflows end up in those countries.

Economics of plant production on marginal sites in the state Mecklenburg-Vorpommern

Science.gov (United States)

Ziesemer, Andrea; Andreas, Gurgel; Ines, Bull

2017-04-01

Marginal sites are defined by economics. It is not possible to produce any profit there under given conditions of markets and policy even when management is optimized. In the state Mecklenburg-Vorpommern, a portion of nearly 20 % of arable land is characterized by such conditions. There are often to find sandy sites below 28 soil points with low storage capacity and irregular water supply. Animal husbandry as a type of agricultural upgrading has a more important role in the south and southwest of the state than in the regions with better soil quality. The percentage of Maize was already in 2003 twice as high in the regions with more marginal sites. After implementation of the Renewable Energy Act many enterprises started built biogas plants. In 2010, the portion of maize was raised to 20 %. The increase of Maize was combined with a reduction of growing other fodder crops, rye and also by reducing set-aside areas. The scale of the cash crops Rape (16%), Wheat (15 %) and barley (9 %) stayed the same. The yields and production processes of several selected farms in Mecklenburg-Vorpommern were analyzed for the years 2011 to 2016. The farms reached 6.6 tons per hectare of wheat and 6.1 tons per hectare of barley on soils below 28 soil points. Hybrid rye achieved 5.4 tons per hectare and rape 3.0. Maize was especially dependent on water supply and made between 30 and 35 tons per hectare. The big problem in these regions is caused by high production costs in cropping. More than a half of the costs is required for seeds, fertilization and crop protection. However, the remaining revenues are not adequate for paying work and fix costs as an evaluation of farms in Mecklenburg-Vorpommern shows. It is not a valid option to set more land that is arable aside in regions with much marginal sites because cropping is a strategic investment there. Therefore, it is important to make effort on crop rotations and optimization of production intensities to decrease costs per unit and to

Do Medicare Advantage Plans Select Enrollees in Higher Margin Clinical Categories?

Science.gov (United States)

Newhouse, Joseph P.; McWilliams, J. Michael; Price, Mary; Huang, Jie; Fireman, Bruce; Hsu, John

2013-01-01

The CMS-HCC risk adjustment system for Medicare Advantage (MA) plans calculates weights, which are effectively relative prices, for beneficiaries with different observable characteristics. To do so it uses the relative amounts spent per beneficiary with those characteristics in Traditional Medicare (TM). For multiple reasons one might expect relative amounts in MA to differ from TM, thereby making some beneficiaries more profitable to treat than others. Much of the difference comes from differences in how TM and MA treat different diseases or diagnoses. Using data on actual medical spending from two MA-HMO plans, we show that the weights calculated from MA costs do indeed differ from those calculated using TM spending. One of the two plans (Plan 1) is more typical of MA-HMO plans in that it contracts with independent community providers, while the other (Plan 2) is vertically integrated with care delivery. We calculate margins, or Average Revenue/Average Cost, for Medicare beneficiaries in the two plans who have one of 48 different combinations of medical conditions. The two plans’ margins for these 48 conditions are correlated (r=0.39, pincentive for selection by HCC. Nonetheless, we find no evidence of overrepresentation of beneficiaries in high margin HCC’s in either plan. Nor, using the margins from Plan 1, the more typical plan, do we find evidence of overrepresentation of high margin HCC’s in Medicare more generally. These results do not permit a conclusion on overall social efficiency, but we note that selection according to margin could be socially efficient. In addition, our findings suggest there are omitted interaction terms in the risk adjustment model that Medicare currently uses. PMID:24308879

The Impact of Industrial Structure of Life Insurance and Business Management Strategy on Profitability%寿险业产业结构与企业经营策略对获利能力的影响

Institute of Scientific and Technical Information of China (English)

戴稳胜; 张阿兰; 林桢舜; 谢邦昌

2004-01-01

Theory of industrial organization told us that Industry structure affect the profitability, it will also affect the enterprise's market strategy and will have indirect effect on profitability through the effect of strategy. This article present an empirical research on Chinese life insurance industry with the structure equation model as a tool, the results told us that the industrial structure has positive effects on enterprise's profitability and market strategy, and market strategy has negative effect on profitability so the industry structure has negative indirect effect on profitability, but the positive effect is more power than the negative effect. This article suggest that Chinese should continue it's opening policy and advance the cooperation in life insurance industry, and the life insurance companies should be enterprising in product innovation and investing strategy.

NONPERFORMING LOANS PORTFOLIO AND ITS EFFECT ON BANK PROFITABILITY IN NIGERIA

Directory of Open Access Journals (Sweden)

John N. N. Ugoani

2016-05-01

Full Text Available Huge nonperforming loans portfolio erodes the ability of banks to make profits. In the 1990s and beyond many Nigerian banks became weak and highly unprofitable due to excessive nonperforming loans portfolio accumulated by bank promoters and management that led to their demise. Insider dealing was the major cause of large nonperforming loan portfolio in Nigeria, involving over-extension of loans to promoters, directors and significant others that became bad and irrecoverable. To clean up the mess in the banking sector and return the banks to the paths of sound management and profitability, the CBN had to inject about N700bn in a bailout exercise while purging the system of bad and irresponsible management teams .The exploratory research design was adopted. Data generated were organized and coded before they were classified. To achieve the objective of the study data analyses were done through descriptive and regression analyses using the statistical package for the social sciences for the regression. With the regression result of Y = 78.353 – 4.04x it was found that nonperforming loans portfolio has negative effect on bank profitability.

The profitability of Norwegian salmon farming companies : a study of profitability variation

OpenAIRE

Eilertsen, Bendik Foss; Hui, Erik

2015-01-01

The conditions in the Norwegian salmon farming industry are constantly changing. Locally and globally, regulations, consolidation and technological advancements are some of the factors having a deep impact on the current industry. To ensure competitiveness, it is essential to emphasise on profitability and taking the correct strategic decisions. The objective of this thesis is to indicate what may cause variation in profitability in the current Norwegian salmon farming industry...

Reducing pesticide use while preserving crop productivity and profitability on arable farms.

Science.gov (United States)

Lechenet, Martin; Dessaint, Fabrice; Py, Guillaume; Makowski, David; Munier-Jolain, Nicolas

2017-03-01

Achieving sustainable crop production while feeding an increasing world population is one of the most ambitious challenges of this century 1 . Meeting this challenge will necessarily imply a drastic reduction of adverse environmental effects arising from agricultural activities 2 . The reduction of pesticide use is one of the critical drivers to preserve the environment and human health. Pesticide use could be reduced through the adoption of new production strategies 3-5 ; however, whether substantial reductions of pesticide use are possible without impacting crop productivity and profitability is debatable 6-17 . Here, we demonstrated that low pesticide use rarely decreases productivity and profitability in arable farms. We analysed the potential conflicts between pesticide use and productivity or profitability with data from 946 non-organic arable commercial farms showing contrasting levels of pesticide use and covering a wide range of production situations in France. We failed to detect any conflict between low pesticide use and both high productivity and high profitability in 77% of the farms. We estimated that total pesticide use could be reduced by 42% without any negative effects on both productivity and profitability in 59% of farms from our national network. This corresponded to an average reduction of 37, 47 and 60% of herbicide, fungicide and insecticide use, respectively. The potential for reducing pesticide use appeared higher in farms with currently high pesticide use than in farms with low pesticide use. Our results demonstrate that pesticide reduction is already accessible to farmers in most production situations. This would imply profound changes in market organization and trade balance.

Does Capital Structure Influence Company Profitability?

Directory of Open Access Journals (Sweden)

Herciu Mihaela

2017-12-01

Full Text Available Every company has a different structure of balance sheet. Some of the companies have more liabilities than equity. Considering the industry or debt-to-equity ratio, the balance sheet structure affects the company profitability measured by DuPont system. The main objective of the paper is to analyze the structure of balance sheet and to identify some optimal levels in order to increase company profitability. The DuPont returns like ROA (return on assets and ROE (return on equity will be used to measure the company profitability, while the debt-to-equity ratio will be used as a measure (reflection of capital structure. The samples consist on the most profitable non-financial companies ranked in Fortune Global 500. The companies will be grouped in clusters (based on industry or debt-to-equity ratio in order to identify the signification of the correlation between the profit and the balance sheet structure. The main results of the paper refer to the company profitability that can be increased by using an optimal structure of liabilities and equity.

Mean-Variance Portfolio Selection with Margin Requirements

Directory of Open Access Journals (Sweden)

Yuan Zhou

2013-01-01

Full Text Available We study the continuous-time mean-variance portfolio selection problem in the situation when investors must pay margin for short selling. The problem is essentially a nonlinear stochastic optimal control problem because the coefficients of positive and negative parts of control variables are different. We can not apply the results of stochastic linearquadratic (LQ problem. Also the solution of corresponding Hamilton-Jacobi-Bellman (HJB equation is not smooth. Li et al. (2002 studied the case when short selling is prohibited; therefore they only need to consider the positive part of control variables, whereas we need to handle both the positive part and the negative part of control variables. The main difficulty is that the positive part and the negative part are not independent. The previous results are not directly applicable. By decomposing the problem into several subproblems we figure out the solutions of HJB equation in two disjoint regions and then prove it is the viscosity solution of HJB equation. Finally we formulate solution of optimal portfolio and the efficient frontier. We also present two examples showing how different margin rates affect the optimal solutions and the efficient frontier.

«Neutral» Profit Taxation, Risk Taking and Optimal Profit Taxation

OpenAIRE

Jack M. MINTZ

1982-01-01

The object of this study is to answer two questions related to the design of profit taxes when taking into account riskiness of firms. The first question is the following: leaving aside general equilibrium effects of taxation on the interest rate and risk premia faced by firms, would a cash flow tax be neutral with respect to the investment decisions made by firms. The second question to be considered is whether profit tax rates should vary across industries because of different degrees of ri...

The Financial Factors that Determine the Profitability: An Application on Manufacturing Firms Traded in BIST

Directory of Open Access Journals (Sweden)

Mesut DOĞAN

2016-01-01

Full Text Available This paper examines the determinants of financial profitability firms listed in Borsa Istanbul (BIST. The study made use of data of 136 firms continuously active in BIST manufacturing industry between 2005 and 2012. In the study, panel data analysis was used. According to the findings it is determined that Return on Equity and Return on Assets have a positive relationship with the total assets, however, leverage ratio have a negative relationship. In addition, a statistically insignificant relation was established between firm age, liquid ratio and profitability. Findings of the research are important for investors, researchers, executives of business.

Profits in reverse? An examination of the decisive factors for reverse supply chain profitability

DEFF Research Database (Denmark)

Larsen, Samuel; Jacobsen, Peter

2015-01-01

Although the concept of the reverse supply chain (RSC) is not unknown in industry, an inhibitor for its successful use is low (or no) profitability. A research challenge is investigating ways to establish the RSC as a profit-creating center in the organization. This paper contributes...

Net profit flow per country from 1980 to 2009: The long-term effects of foreign direct investment

Science.gov (United States)

2017-01-01

Aim of the paper The paper aims at describing and explaining net profit flows per country for the period 1980–2009. Net profit flows result from Foreign Direct Investment (FDI) stock and profit repatriation: inward stock creating a profit outflow and outward FDI stock a profit inflow. Profit flows, especially ‘normal’ ones are not commonly researched. Theoretical background According to world-system theory, countries are part of a system characterised by a core, semi-periphery and periphery, as shown by network analyses of trade relations. Network analyses based on ownership relations of TransNational Corporations (TNCs) show that the top 50 firms that control about 40% of the world economy are almost exclusively located in core countries. So, we may expect a hierarchy in net profit flows with core countries on top and the periphery at the bottom. FDI outflows from the core countries especially rose in the 1990s, so we may expect that the difference has grown in time. Data and results A dataset on 'net profit flow' per country is developed. There are diverging developments in net profit flows since the 1980s, as expected: ever more positive for core countries, negative and ever lower for semi-peripheral and peripheral countries, in particular from the 1990s onwards. A fixed effects quantile regression using publicly available data confirms the prediction that peripheral countries share a unique characteristic: their outward investments do not have a positive influence on net profit flow as is the case with semi-peripheral and core countries. The most probable explanation is that peripheral outward investments are indirectly owned by firms located in core and semi-peripheral countries, so all peripheral profit inflows end up in those countries. PMID:28654644

Do Emotional Appeal and Media-context Influence the Effectiveness of TV Commercials for Profit and Non-profit Brands?

OpenAIRE

Roozen, Irene; Claeys, Christel

2009-01-01

This study investigates the impact of emotions, both ad- and context-evoked, on the effectiveness of commercials for non-profit vs. profit brands. Effectiveness is made operational by rational measures, recall and recognition, and by emotional measures, ad likeability and brand attitude. Four different experimental groups were exposed to a sequence of warm and sad commercials for non-profit and profit brands, embedded either in a warm film fragment or a sad one. The results indicate that, ove...

The Effects of Abandonment Options on Investment Timing and Profit Sharing of FDI

Directory of Open Access Journals (Sweden)

Weiwei Zhang

2017-01-01

Full Text Available The paper incorporates cooperative game theory into a real option method in a foreign direct investment setting and examines the operational decisions of a multinational corporation in a cooperative framework, where the corporation is endowed with an abandonment option and shares its profit with the host country. In particular, we investigate how the abandonment options affect the optimal investment timing and the optimal profit share of a foreign direct investment using a real option game method. We show that the flexibility of the abandonment option induces the corporation to investment earlier, which indicates the negative effects on investment trigger. The result is consistent with intuition since the abandonment option provides insurance and thus reduces the overall risk of the project. We also find that the introduction of the abandonment option reduces the optimal profit share in a cooperative framework and in turn the lower profit share increases the investment trigger, thereby having a positive effect on the investment threshold to hinder the investment. By numerical analysis, we find that the overall effect of the abandonment options is inversely related to the investment trigger. These findings provide quantitative analysis about the decisions regarding cooperation in international investment extraction projects.

TRANSPARENCY IN ITALIAN NON PROFIT ORGANIZATIONS

Directory of Open Access Journals (Sweden)

Patrizia Gazzola

2014-07-01

Full Text Available The aim of the paper is to evaluate the accountability and transparency of Italian non profits organizations. The main goal is to understand if a general accountability or transparency problem, or a systematic publicity deficit, exist in the third sector in Italy. Non profit organizations have an ethical obligation to their stakeholder and to the public to conduct their activities with accountability and transparency. Non profit organizations should regularly and openly convey information to the stakeholder about their vision, mission, objectives, activities, accomplishments, decision-making processes and organizational structure. Information from a non profit organization should be easily accessible to the stakeholder and should create external visibility, public understanding and trust in the organization, conditions necessary to find donors. Non profit organizations work with communities and community donors need to know how their money is used. In the first part the analysis of the definition of transparency and accountability is made and the sustainability report like an important instrument of communication is considered. In the second part an empirical research is presented. The Italian law allows taxpayers to devote 5 per thousand of their income tax to non profit organizations, choosing between charities, social promotion associations, recognized associations, entities dedicated to scientific research and health care, universities, municipal social services and other non profit organizations. The present study present a quantitative research and it’s based on an empirical analysis of non-profit organizations that receive this donation in Italy in the year 2010 and 2011. In the paper we analyze the transparency and the accountability of the top 100 non profit organizations that have received the contribution of 5 per thousand, checking whether they prepare their Sustainability Report or any other kind of report for communicate the use

Not for the Profit, but for the Training? Gender Differences in Training in the For-Profit and Non-Profit Sectors

OpenAIRE

Dostie, Benoît; Javdani, Mohsen

2017-01-01

We use Canadian linked employer-employee data to examine gender differences in probability, duration, and intensity of firm-sponsored training. We find that women in the for-profit sector are less likely to receive classroom training, and receive shorter classroom training courses. However, we find the reverse in the non-profit sector, with women being more likely to receive both classroom and on-the-job training, and also receiving longer classroom training courses. Our results suggest that ...

Public ownership helps boost HMOs' profits.

Science.gov (United States)

Kenkel, P J

1992-05-04

Health maintenance organizations have found that the route to faster growth and better profitability may be turning into a for-profit business and issuing stock. For the past five years, such organizations have generally outperformed their older, not-for-profit counterparts that rely on debt to fuel growth. Since 1988, HMOs have completed 48 stock and debt offerings, raising $3.6 billion.

Profit-driven drug testing.

Science.gov (United States)

Collen, Mark

2012-01-01

Random drug testing of people being treated for chronic pain has become more common. Physicians may drug test patients on opioid therapy as a result of concerns over prosecution, drug misuse, addiction, and overdose. However, profit motive has remained unexplored. This article suggests profits also drive physician drug-testing behavior and evidence is offered, including an exploration of Medicare reimbursement incentives and kickbacks for drug testing.

THE INFLUENCE OF RUPIAH, INCREASE OF WAGES AND ELECTRICITY ON WORKING CAPITAL AND PROFITABILITY

Directory of Open Access Journals (Sweden)

Maman Sumantri

2015-09-01

Full Text Available The purpose of the research was to find out the effects of rupiah exchange per US dollar, and increase of wages and electricity on the ratio of net working capital and profitability. Descriptive methodology using case-study approach was used in PT XYZ as a producer of sewing thread. Secondary data were collected from January 2009 to June 2014. Monthly data of financial ratios consisting of liquidity ratio, activity ratio, and profitability ratio was analyzed with multiple regressions using Minitab 16. The results showed that rupiah impairment per US dollar could lower the ratio of net working capital and profitability. The increase of wages and electricity would increase the ratio of net working capital, but fortunately it would also increase profitability due to the increase of employees’ productivity and efficient use of electricity. All the free variables insignificantly affect net working capital and profitability. The study also showed that the impairment of rupiah exchange and working capital variables that are measured by receivables age, inventory age, and loan age could influence return on asset. The impairment of rupiah exchange rate, receivables age, and inventory age had a negative impact on the return on asset, while loan age had a positive impact on the return on asset. The impairment of rupiah exchange rate, receivables age, and inventory age had a significant influence on the return on asset so that the company’s management must focus more on anticipating rupiah exchange fluctuation, and management of accounts receivables and inventory. Keywords: net working capital, liquidity ratio, profitability ratio, multiple regression analyses

DISCRIMINANT ANALYSIS OF BANK PROFITABILITY LEVELS

Directory of Open Access Journals (Sweden)

Ante Rozga

2013-02-01

Full Text Available Discriminant analysis has been employed in this paper in order to identify and explain key features of bank profitability levels. Bank profitability is set up in the form of two categorical variables: profit or loss recorded and above or below average return on equity. Predictor variables are selected from various groups of financial indicators usually included in the empirical work on microeconomic determinants of bank profitability. The data from the Croatian banking sector is analyzed using the Enter method. General recommendations for a more profitable business of banking found in the bank management literature and existing empirical framework such as rationalization of overhead costs, asset growth, increase of non-interest income by expanding scale and scope of financial products proved to be important for classification of banks in different profitability levels. A higher market share may bring additional advantages. Classification results, canonical correlation and Wilks’ Lambda test confirm statistical significance of research results. Altogether, discriminant analysis turns out to be a suitable statistical method for solving presented research problem and moving forward from the bankruptcy, credit rating or default issues in finance.

Profitability Analysis of Soybean Oil Processes.

Science.gov (United States)

Cheng, Ming-Hsun; Rosentrater, Kurt A

2017-10-07

Soybean oil production is the basic process for soybean applications. Cash flow analysis is used to estimate the profitability of a manufacturing venture. Besides capital investments, operating costs, and revenues, the interest rate is the factor to estimate the net present value (NPV), break-even points, and payback time; which are benchmarks for profitability evaluation. The positive NPV and reasonable payback time represent a profitable process, and provide an acceptable projection for real operating. Additionally, the capacity of the process is another critical factor. The extruding-expelling process and hexane extraction are the two typical approaches used in industry. When the capacities of annual oil production are larger than 12 and 173 million kg respectively, these two processes are profitable. The solvent free approach, known as enzyme assisted aqueous extraction process (EAEP), is profitable when the capacity is larger than 17 million kg of annual oil production.

Profitability Analysis of Soybean Oil Processes

Directory of Open Access Journals (Sweden)

Ming-Hsun Cheng

2017-10-01

Full Text Available Soybean oil production is the basic process for soybean applications. Cash flow analysis is used to estimate the profitability of a manufacturing venture. Besides capital investments, operating costs, and revenues, the interest rate is the factor to estimate the net present value (NPV, break-even points, and payback time; which are benchmarks for profitability evaluation. The positive NPV and reasonable payback time represent a profitable process, and provide an acceptable projection for real operating. Additionally, the capacity of the process is another critical factor. The extruding-expelling process and hexane extraction are the two typical approaches used in industry. When the capacities of annual oil production are larger than 12 and 173 million kg respectively, these two processes are profitable. The solvent free approach, known as enzyme assisted aqueous extraction process (EAEP, is profitable when the capacity is larger than 17 million kg of annual oil production.

Influence of margin status and radiation on recurrence after radical hysterectomy in Stage IB cervical cancer

International Nuclear Information System (INIS)

Viswanathan, Akila N.; Lee, Hang; Hanson, Emily; Berkowitz, Ross S.; Crum, Christopher P.

2006-01-01

Purpose: To examine the relationship between margin status and local recurrence (LR) or any recurrence after radical hysterectomy (RH) in women treated with or without radiotherapy (RT) for Stage IB cervical carcinoma. Methods and Materials: This study included 284 patients after RH with assessable margins between 1980 and 2000. Each margin was scored as negative (≥1 cm), close (>0 and <1 cm), or positive. The outcomes measured were any recurrence, LR, and relapse-free survival. Results: The crude rate for any recurrence was 11%, 20%, and 38% for patients with negative, close, and positive margins, respectively. The crude rate for LR was 10%, 11%, and 38%, respectively. Postoperative RT decreased the rate of LR from 10% to 0% for negative, 17% to 0% for close, and 50% to 25% for positive margins. The significant predictors of decreased relapse-free survival on univariate analysis were the depth of tumor invasion (hazard ratio [HR] 2.14/cm increase, p = 0.007), positive margins (HR 3.92, p = 0.02), tumor size (HR 1.3/cm increase, p = 0.02), lymphovascular invasion (HR 2.19, p = 0.03), and margin status (HR 0.002/increasing millimeter from cancer for those with close margins, p = 0.03). Long-term side effects occurred in 8% after RH and 19% after RH and RT. Conclusion: The use of postoperative RT may decrease the risk of LR in patients with close paracervical margins. Patients with other adverse prognostic factors and close margins may also benefit from the use of postoperative RT. However, RT after RH may increase the risk of long-term side effects

Impact of robotic operative efficiency on profitability.

Science.gov (United States)

Geller, Elizabeth J; Matthews, Catherine A

2013-07-01

We sought to determine the impact of robotic operative efficiency on profitability and assess the impact of secondary variables. Financial data were collected for all robotic cases performed for fiscal years 2010 (FY10) and 2011 (FY11) at University of North Carolina at Chapel Hill, and included 9 surgical subspecialties. Profitability was defined as a positive operating income. From July 2009 through June 2011, 1295 robotic cases were performed. Robotic surgery was profitable in both fiscal years, with an operating income of $386,735 in FY10 and $822,996 in FY11. In FY10, urogynecology and pediatric surgery were the only nonprofitable subspecialties. In FY11, all subspecialties were profitable. Profitability was associated with case time, payor mix, and procedure type (all P profitability regardless of surgical specialty. Copyright © 2013 Mosby, Inc. All rights reserved.

Extensive management of field margins enhances their potential for off-site soil erosion mitigation.

Science.gov (United States)

Ali, Hamada E; Reineking, Björn

2016-03-15

Soil erosion is a widespread problem in agricultural landscapes, particularly in regions with strong rainfall events. Vegetated field margins can mitigate negative impacts of soil erosion off-site by trapping eroded material. Here we analyse how local management affects the trapping capacity of field margins in a monsoon region of South Korea, contrasting intensively and extensively managed field margins on both steep and shallow slopes. Prior to the beginning of monsoon season, we equipped a total of 12 sites representing three replicates for each of four different types of field margins ("intensive managed flat", "intensive managed steep", "extensive managed flat" and "extensive managed steep") with Astroturf mats. The mats (n = 15/site) were placed before, within and after the field margin. Sediment was collected after each rain event until the end of the monsoon season. The effect of management and slope on sediment trapping was analysed using linear mixed effects models, using as response variable either the sediment collected within the field margin or the difference in sediment collected after and before the field margin. There was no difference in the amount of sediment reaching the different field margin types. In contrast, extensively managed field margins showed a large reduction in collected sediment before and after the field margins. This effect was pronounced in steep field margins, and increased with the size of rainfall events. We conclude that a field margin management promoting a dense vegetation cover is a key to mitigating negative off-site effects of soil erosion in monsoon regions, particularly in field margins with steep slopes. Copyright © 2015 Elsevier Ltd. All rights reserved.

ANALYSIS OF EFFECT OF PROFITABILITY, ASSETS STRUCTURE, SIZE OF COMPANIES, AND LIQUIDITY TO CAPITAL STRUCTURES IN MINING COMPANIES LISTED IN INDONESIA STOCK EXCHANGE PERIOD 2012 - 2015

Directory of Open Access Journals (Sweden)

Gatot Nazir Ahmad

2017-09-01

Full Text Available The purpose of this study is to analyze the effect of profitability, structure assets, firm size and liquidity to the capital structure of mining companies listed on the Indonesia Stock Exchange for the period 2012-2015. Sampling technique using purpose sampling. Data analysis technique used in this research is panel data regression. The results showed that partially profitability had negative and significant effect to capital structure, asset structure had positive and significant effect to capital structure, firm size had positive and significant effect to capital structure, and liquidity had negative and significant effect to capital structure. Simultaneously profitability, asset structure, firm size and liquidity have a significant effect on capital structure.

78 FR 11164 - Policy on Contractor Profits

Science.gov (United States)

2013-02-15

... DEPARTMENT OF DEFENSE Defense Acquisition Regulations System Policy on Contractor Profits AGENCY... Authorization Act for Fiscal Year 2013. Section 804, Department of Defense Policy on Contractor Profits... modifications to such guidelines that are necessary to ensure an appropriate link between contractor profit and...

Impact of the NIRP on the European Banks’ Profitability: Empirical Analysis of Three Business Models

OpenAIRE

De Crom, Nicolas

2017-01-01

Since the great financial crisis, the European Central Bank has designed several accommodative monetary policies to revive the European economy and reach its inflation target. Among those, the negative interest rates have created shockwaves in the financial world. In this master thesis, we aim to assess if the negative interest rate policy has undermined the profitability of European financial institutions and banks residing in Sweden and Denmark. To do so, we have gathered the annual financi...

The strategic value of customer profitability analysis

NARCIS (Netherlands)

Raaij, van E.M.

2005-01-01

Purpose – The aim of the paper is to show how intelligence emanating from customer profitability analysis (CPA) can help improve strategic marketing planning. Insights into the profitability of individual customers, as well as the distribution of profitability across the customer base, can lead to

Alternative profit rate shariah-compliant for islamic banking

Science.gov (United States)

Gazali, Nadhirah; Halim, Nurfadhlina Abdul; Ghazali, Puspa Liza

2017-09-01

Profit is the aims for Islamic banking and conventional banking. Determination of profit in Islamic banking in Malaysia depends on the profit rate, whereas profit rate is essentially from reference rate which is known as the base rate (BR). However, the determination of the components contained in the BR such as benchmark cost of funds and the statutory reserve requirement (SRR) is non-compliance with the Shariah because its directly proportional to the overnight policy rate (OPR). Therefore, an alternative formula for the profit rate are proposed which is known as the base profit rate (BPR). Construction of BPR formula is based on the principle that are more Shariah-compliant.

Comparative Corporate Governance of Non-Profit Organizations

DEFF Research Database (Denmark)

Thomsen, Steen

2014-01-01

Based on the impressive work of Hopt and von Hippel (2010), I review the comparative corporate governance of non-profit organizations and propose topics for future research. There is evidence of agency problems in non-profit as well as for-profit organizations, but the governance mechanisms...

Evaluating solar energy profitability: A focus on the role of self-consumption

International Nuclear Information System (INIS)

Chiaroni, Davide; Chiesa, Vittorio; Colasanti, Lorenzo; Cucchiella, Federica; D’Adamo, Idiano; Frattini, Federico

2014-01-01

Highlights: • Investment profitability for realisation of PV facilities in Italy is analysed. • Self-consumption can support the economic sustainability of photovoltaic facilities. • A survey was conducted on 750 companies operating in various stages of supply chain. • The economic feasibility of PV investment is evaluated for systems of varying sizes. • The investments are located in two areas of the country to account for different levels of insolation. - Abstract: Renewable energies have a key role in defining an energy policy based on security, independence, and sustainability. The Italian market is characterised by the absence of support mechanisms for photovoltaic sources for electricity and by a high level of maturity in the energy market. Consequently, this paper contributes to, and advances, the debate concerning self-consumption that can support the economic sustainability of photovoltaic facilities. We constructed a database to conduct an analysis. A survey was conducted among 750 companies operating in various stages of the industry supply chain. The survey collected data related to industry turnover, profitability levels, profitability margins of the business areas and employee numbers. The economic feasibility of photovoltaic investment is evaluated for systems of varying sizes (3 kW, 20 kW, 200 kW, 400 kW, and 1 MW) located in two areas of the country to account for different levels of insolation (northern and southern regions). The indicators used are net present value (NPV) and discounted payback time (DPBT). A subsequent sensitivity and scenario analysis is conducted according to the share of self-consumption, investment costs, and financial structure to examine 210 case studies

DETERMINANTS OF BANK PROFITABILITY: EVIDENCE FROM US

OpenAIRE

Cheng, Yinglin; Huang, Yating

2017-01-01

This paper examines the variables that affect bank profitability. We construct a sample of US banks from 2003 to 2015, and use return on assets (ROA) and return on equity (ROE) to measure bank profitability. We find that banks with higher profitability are the banks that have: (1) a higher deposits to total asset ratio, (2) a higher diversification ratio, and (3) higher operational efficiency. We also find that better-capitalized banks tend to be more profitable only when we use ROA as the me...

Profitability expertise of rural methanization projects

International Nuclear Information System (INIS)

2010-02-01

The main objectives of this study were to analyze the profitability of projects of methanization, and to identify factors which curb or favour their profitability. It is based on a detailed analysis of the investment and of the profitability of 50 sites of different sizes and at different stages of progress (from the feasibility study to few months of operation), and also of experiences in three neighbour countries (Germany, Switzerland and Belgium). First, the study highlights the importance of investment costs in the biogas production global cost, notably with respect to current German prices. Then, it comments the impact of subsidies on facility profitability. It proposes ways to improve public support to the different energetic vectors produced from biogas: electricity, biomethane, and heat

Monomorphic Epithelial Proliferations of the Breast: A Possible Precursor Lesion Associated With Ipsilateral Breast Failure After Breast Conserving Therapy in Patients With Negative Lumpectomy Margins

International Nuclear Information System (INIS)

Goldstein, Neal S.; Kestin, Larry L.; Vicini, Frank A.

2011-01-01

Background: It is generally believed that ipsilateral breast failures (IBFs) after breast-conserving therapy (BCT) develop from incompletely eradicated carcinoma. We previously suggested that monomorphic epithelial proliferations (MEPs) in the breast may be a pool of partially transformed clones from which breast carcinomas can arise and that radiation therapy (RT) may also reduce the risk of IBF by eradicating MEPs. We examined salvage mastectomy specimens in patients experiencing an IBF to define the relationship between MEPs and IBFs and an additional potential mechanism for IBF risk reduction by RT. Methods and Materials: The location, number, and distribution of radiation changes and MEPs relative to 51 IBFs were mapped in salvage mastectomy specimens from BCT patients with adequately excised, initial carcinomas (negative lumpectomy margins). Results: All 51 salvage mastectomies had diffuse, late radiation changes. None had active fibrocystic lesions. MEPs were predominantly located in the immediate vicinity of the IBFs. A mean of 39% of MEP cases were located within the IBF, 46% were located within 2 cm of the IBF, and 14% were 2-3 cm from the IBF. Conclusions: MEPs appear to be a pool of partially transformed precursor lesions that can give rise to ductal carcinoma in situ and invasive carcinomas (CAs). Many IBFs may arise from MEPs that reemerge after RT. Radiation may also reduce IBF risk after BCT (including in patients with negative margins) by primarily eradicating MEPs.

Excision margin status: does it impact on local control of breast cancer?

International Nuclear Information System (INIS)

Lamoury, G.; Morgan, G.; Ward, R.

2003-01-01

Whilst many patients treated with breast conservation undergo re-excision(s) to obtain clear margins, the relationship between clear margins and local recurrence remains unclear. We aimed to determine the impact of final pathological margin status on local recurrence and other breast cancer outcomes. Our study cohort consisted of 755 consecutive patients treated with breast conservation between January 1984 and December 1995. Pathology reports were available for review in 681subjects (90%). Patients were stratified into 8 groups based on final pathological margin status: 1) negative (>3mm, n = 307), close [further divided into two groups 2) >0 1< 2mm, (n = 67)], 4) positive (n= 79), 5) indeterminate (n= 144), 6) low grade DCIS at the margin (n= 3), 7) high grade DCIS at the margin (n= 23) and 8) LCIS at the margin (n= 4). There were no differences between the groups based on histology, T size, grade, LN positivity or total radiation dose. At a median follow-up of 71 months, the breast relapse free survival (BRFS) was 97%, the distant metastasis free survival (DMFS) 78% and the overall survival (OS) 86%, for the entire cohort. There were no statistically significant differences between the negative, close, and positive groups in terms of BRFS: 96% vs. 94% vs. 93% (p=0.59), MFS: 98% vs. 97% vs. 98% (p=0.87) or OS: 84%vs. 85% vs. 86% (p=0.78). Although not statistically significant, the presence of EIC, in the context of close or positive margins, impacted adversely upon local and overall disease free survival. Patients undergoing breast conservation carry a lifelong risk of local recurrence. It is still not clear whether obtaining a radical margin decreases this risk. Tissue microarray analysis will be performed to further elucidate the causes of ipsilateral recurrence at a molecular and genetic level

Financialization and financial profit

Directory of Open Access Journals (Sweden)

Arturo Guillén

2014-09-01

Full Text Available This article starts from the critical review of the concept of financial capital. I consider it is necessary not to confuse this category with of financialization, which has acquired a certificate of naturalization from the rise of neoliberalism. Although financial monopoly-financial capital is the hegemonic segment of the bourgeoisie in the major capitalist countries, their dominance does not imply, a fortiori, financialization of economic activity, since it depends of the conditions of the process reproduction of capital. The emergence of joint stock companies modified the formation of the average rate of profit. The "promoter profit" becomes one of the main forms of income of monopoly-financial capital. It is postulated that financial profit is a kind of "extraordinary surplus-value" which is appropriated by monopoly-financial capital by means of the monopolistic control it exerts on the issue and circulation of fictitious capital.

Hydro-Quebec is profitable

International Nuclear Information System (INIS)

Poirier, M.

1997-01-01

The pros and cons of the potential privatisation of Hydro-Quebec were discussed. A brief review of charges of less than competent management, low profitability and the corporation's recent administrative restructuring was presented. The general thrust of the argument was that Hydro-Quebec plays a crucial role in the economic development of Quebec, it can be made to be more profitable and that for the good of Quebec it should continue as a public corporation under the control of the provincial government

Fractal profit landscape of the stock market.

Science.gov (United States)

Grönlund, Andreas; Yi, Il Gu; Kim, Beom Jun

2012-01-01

We investigate the structure of the profit landscape obtained from the most basic, fluctuation based, trading strategy applied for the daily stock price data. The strategy is parameterized by only two variables, p and q Stocks are sold and bought if the log return is bigger than p and less than -q, respectively. Repetition of this simple strategy for a long time gives the profit defined in the underlying two-dimensional parameter space of p and q. It is revealed that the local maxima in the profit landscape are spread in the form of a fractal structure. The fractal structure implies that successful strategies are not localized to any region of the profit landscape and are neither spaced evenly throughout the profit landscape, which makes the optimization notoriously hard and hypersensitive for partial or limited information. The concrete implication of this property is demonstrated by showing that optimization of one stock for future values or other stocks renders worse profit than a strategy that ignores fluctuations, i.e., a long-term buy-and-hold strategy.

The relationship between the Balanced Budget Act (BBA) and hospital profitability.

Science.gov (United States)

Younis, Mustafa Z

2006-01-01

The Balanced Budget Act of 1997 (BBA) reduced the payment for fees for service providers and reduced the subsidy paid by the government for teaching hospitals. Since the passage of such cost containment measures, debates regarding their impact on hospitals, graduate medical education, and access to health care were raised. The need to examine the effect of such payment reduction on hospital profitability was widely ignored. We examined the relationship between the BBA and hospital profitability by using return on assets to measure profitability, by running an ordinary least squares regression for 1996 as pre-BBA and 1999 as post-BBA. We controlled for variables that were not included in previous literature, such as disproportionate share hospital status, critical access hospital status, and graduate medical education, measured by teaching hospitals to measure the effect of BBA cuts on teaching hospitals. Furthermore we incorporated several economic, financial, and utilization variables in the model. We used 1996 and 1999 data in our analysis to bridge potential effects of the BBA. To locate hospitals that changed ownership status we cross-matched the Medicare Cost Report data with the American Hospital Association Annual Survey. We found that overall hospital profitability declined as a result of the introduction of the BBA; however, small rural hospitals that converted to critical access status enjoyed improvement in financial status over the period of our study. Hospitals that converted to for-profit status did not improve in financial status, and showed a lower earning after the conversation. Our results show that the BBA had a negative effect on hospitals because of cuts in its reimbursement policy, except for critical access hospitals, which show improvement because of their exemption from the prospective payment system. Our study differs from others by using national comprehensive data for years that focus exclusively on the Balanced Budget Act period. We

Selling Out America's Children: How America Puts Profits before Values--and What Parents Can Do.

Science.gov (United States)

Walsh, David

Many believe that America's children are exposed to negative messages by the media--violence, irresponsible sex, and materialism--making it difficult for parents to teach traditional values. Noting that what motivates parents is the desire to teach their children right from wrong while what motivates society is financial profit, this book explores…

Collection performance: an empirical analysis of not-for-profit community hospitals.

Science.gov (United States)

Prince, T R; Ramanan, R

1992-01-01

Many not-for-profit community hospitals had major shifts in their annual collection performance between 1986 and 1988. The collection performance is measured by excess collection time; this is computed as the difference between the actual average collection time for a hospital and the median for one of the six panels to which the hospital is assigned based on ownership, control code, and financial reporting practices. The sample for this study has 1,246 not-for-profit hospitals comprising over 50 percent of total revenue and expenses of all community hospitals (about 5,500). More than 16 percent of these hospitals had annual changes of ten-plus days in each of the years. Excess collection time within the six panels was examined by state, payer mix (Medicare, Medicaid, and Blue Cross), membership in the Council of Teaching Hospitals, medical school affiliation, case-mix index for Medicare, contractual allowance rate, debt-service coverage, return on assets, new investments, age of property, and urban location. Major findings were that collection patterns are different among some states. The proportions of Medicare, Medicaid, and Blue Cross are negatively associated with excess collection time in three of the panels. Contractual allowance is positively related, and return on assets is negatively associated with excess collection time in two of the panels. The other factors had virtually no effect on the collection performance.

Fission product margin in burnup credit analyses

International Nuclear Information System (INIS)

Finck, P.J.; Stenberg, C.G.

1998-01-01

The US Department of Energy (DOE) is currently working toward the licensing of a methodology for using actinide-only burnup credit for the transportation of spent nuclear fuel (SNF). Important margins are built into this methodology. By using comparisons with a representative experimental database to determine bias factors, the methodology ensures that actinide concentrations and worths are estimated conservatively; furthermore, the negative net reactivity of certain actinides and all fission products (FPs) is not taken into account, thus providing additional margin. A future step of DOE's effort might aim at establishing an actinide and FP burnup credit methodology. The objective of this work is to establish the uncertainty to be applied to the total FP worth in SNF. This will serve two ends. First, it will support the current actinide-only methodology by demonstrating the margin available from FPs. Second, it will identify the major contributions to the uncertainty and help set priorities for future work

The influence of temporary differences between accounting and tax revenues, proprietary costs and liquidity on profit growth

Directory of Open Access Journals (Sweden)

NURAMALIA HASANAH

2017-07-01

Full Text Available This study aimed to examine the influence of temporary differences between accounting profit and tax, proprietary costs, and Liquidity toward earnings growth of the companies listed in Indonesia Stock Exchange (IDX 2011-2012. The factors examined in this study are temporary differences between accounting profit and tax, proprietary costs, and liquidity as an independent variable, while earnings growth has the dependent variable. This study used a descriptive quantitative method using secondary data and the number of samples collected was thirty- eight (38 that have met the criteria the researchers used purposive sampling. From the data that has been collected and then processed and analyzed using multiple regression analysis with a significance level of 0.05. This research proves temporary differences between accounting profit and tax has no significant influence on earnings growth, proprietary cost has no significant influence on earnings growth, and liquidity has negatively significant influence earnings growth. Temporary differences between accounting profit and tax, proprietary costs, and liquidity together or simultaneously significant influence toward the earnings growth.

The Effect of Credit Risk and Capital Adequacy on the Profitability of Rural Banks in the Philippines

Directory of Open Access Journals (Sweden)

Mendoza Rufo

2017-03-01

Full Text Available This paper examines the credit risk and capital adequacy of the 567 rural banks in the Philippines to investigate how both variables affect bank profitability. Using the Arellano-Bond estimator, we found out that credit risk has a negative and statistically significant relationship with profitability. However, empirical analysis showed that capital adequacy has no significant impact on the profitability of rural banks in the Philippines. It is therefore necessary for the rural banks to examine more deeply if capital infusion would result in higher profitability than increasing debts. The study also implies that it is imperative for the banks to understand which risk factors have greater impact on their financial performance and use better risk-adjusted performance measurement to support their strategies. Rural banks should establish credit risk management that defines the process from initiation to approval of loans, taking into consideration the sound credit risk management practices issued by regulatory bodies. Moreover, rural banks need to enhance internal control measures to ensure the strict implementation of internal processes on lending operations.

Price and Profit Optimization for Financial Services

Directory of Open Access Journals (Sweden)

Catalina Bolancé

2018-02-01

Full Text Available Prospective customers of financial and insurance products can be targeted based on the profit the provider expects to earn from them. We present a model for individual expected profit and two alternatives for calculating optimal personalized prices that maximize the expected profit. For one of these alternatives, we obtain a closed-form expression for the price offered to each prospective customer; for the other, we need to use a numerical approximation. In both approaches, the profits generated by prospective customers are not immediately observed, given that the products sold by these companies have a risk component. We assume that willingness to pay is heterogeneous and apply our methodology using real data from a European insurance company. Our study indicates that a substantial boost in profits can be expected when applying the simplest optimal pricing method proposed.

Age and gender effects of workforce composition on productivity and profits: Evidence from a new type of data for German enterprises

Directory of Open Access Journals (Sweden)

Christian Pfeifer

2014-03-01

Full Text Available This empirical paper documents the relationship between the composition of a firm’s workforce (with a special focus on age and gender and its performance (productivity and profitability for a large representative sample of enterprises from manufacturing industries in Germany using newly available, unique data. We find concave age-productivity profiles and a negative correlation of age on firms’ profitability. Moreover, our micro-econometric analysis reveals for the first time that the ceteris paribus lower level of productivity in firms with a higher share of female employees does not go hand in hand with a lower level of profitability in these firms.

Corporate Negative Equity: The Evidence from the European Union

Directory of Open Access Journals (Sweden)

Natalia Mokhova

2016-01-01

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

Study notes separability of oil company profitability, efficiency

International Nuclear Information System (INIS)

Thompson, R.G.

1993-01-01

In recent years, the large publicly traded oil companies have been restructuring and downsizing to improve efficiency. Newly developed decision theory forces one to question the widely held singular focus on efficiency because improving efficiency will not necessarily improve profits. This is especially likely in the oil industry, where price volatility is the norm. Because its products are so basic, its price volatility typically ripples widely throughout the economy. In light of this, efficiency and profitability in the oil industry require separate treatment. More specifically, the efficient are not necessarily the most profitable; conversely, the most profitable are not necessarily the most efficient. Such a decoupling of efficiency and profitability requires a totally new look at business strategy. In the face of highly variable prices, firms can no longer depend on the long-accepted duality norm between profits and efficiency

The impact of a focally positive resection margin on the local control in patients treated with breast-conserving therapy

International Nuclear Information System (INIS)

Park, Seho; Park, Hyung-Seok; Kim, Seung-ll; Koo, Ja-Seung; Park, Byeong-Woo; Lee, Kyong-Sik

2011-01-01

The aim of the study was to investigate the parameters affecting positive margin and the impact of positive margin on outcomes after breast-conserving therapy in patients with breast cancer. Characteristics and survival of 705 patients attempted breast-conserving therapy between January 1994 and December 2004 were retrospectively analyzed using χ 2 tests, the Kaplan-Meier methods and multivariate analyses. Ninety-five (13.5%) showed positive margins at initial resection. Among them, 28 (4.0%) had negative margin on the initial frozen section; however, they finally turned out a focally positive margin with intraductal carcinoma on the permanent pathology. Positive margin at initial resection was significantly associated with lobular histology (P=0.001), four or more involved lymph nodes (P=0.015) and the presence of extensive intraductal component (P<0.001). A focally positive margin did not influence local (P=0.250; 95% confidence interval, 0.612-6.592) or regional failure (P=0.756; 95% confidence interval, 0.297-5.311). Patients with a focally positive margin showed an advanced nodal stage and received a higher dose of irradiation and more systemic therapy. Nodal involvements were the most significant factor for locoregional failure. Although the achievement of negative margins is the best way to reduce local failure, patients with a focally positive margin and favorable risk factors such as node negativity and older age could have an option of close follow-up with adequate boost irradiation and adjuvant therapy instead of conversion to total mastectomy. (author)

Meet the New For-Profit: The Low-Profit

Science.gov (United States)

Blumenstyk, Goldie

2012-01-01

"Doing well by doing good" is the business mantra of the for-profit-college industry. But one does not have to look far to find people who question the slogan's sincerity or the very legitimacy of that model. And that was even before reports of some companies' abusive student-recruiting practices and questionable educational standards fed a public…

Decomposing dynamic profit inefficiency of Belgian dairy farms

NARCIS (Netherlands)

Ang, Frederic; Lansink, Alfons Oude

2018-01-01

This paper introduces a nonparametric framework for analysing dynamic profit inefficiency and applies this to a sample of Belgian, specialised dairy farms from 1996 to 2008. Profit inefficiency is decomposed into technical and allocative inefficiency. The paper also decomposes profit inefficiency

Profit sharing for increased training investments

NARCIS (Netherlands)

Gielen, A. C.

2011-01-01

This article investigates whether paying a profit-related wage stimulates training investments. The results point to increased worker effort and wage flexibility as two channels through which profit sharing enhances investments in training. While both effects are found for young workers, for older

DataProfit

DEFF Research Database (Denmark)

Ritter, Thomas; Lund Pedersen, Carsten; Eibe Sørensen, Hans

sammen for at udnytte mulighederne for datadreven profitabel vækst. Denne guide giver en anvendelsesorienteret gennemgang af de ni kompetencer i vores kort, som vi kalder for DataProfit. I guiden beskrives hver kompetence – og du inviteres til at analysere din virksomhed. Til sidst sætter vi hele...

ANALISIS PROFIT MARJIN SUSU SAPI PERAH DI KECAMATAN UNGARAN KABUPATEN SEMARANG

Directory of Open Access Journals (Sweden)

Adi Kristoro

2014-10-01

dan Timur di Kabupaten semarang layak untuk dilakukan. Dengan beban biaya yang harus di tanggung oleh para peternak masih tinggi,sehingga ke untungan yang diperoleh masih sedikit. Abstract ___________________________________________________________________ Agribusiness Dairy cattle are a component in farming peting for the welfare of the rural population, due to maintenance on a small scale can help the revenue with the use of natural resources available in the vicinity, it is necessary to study the marketing system chips mlinjo. The problems examined in this study: (1 What is the distribution of the commodity pemasaranya milk of dairy cows in the District of West Ungaran and Ungaran tumur .. (2 How big is the profit margin on each nikati - each actor a dairy milk business administration. Study determined the location of the five villages in the District Ungaran West and East. The study was conducted in October 2012-December 2013. Samples in this study were 50 dairy cows dairy farmers, traders KUD 1, 1 IPS (dairy industry, 31 retailers through Cost Benefit Analysis techniques. Data were analyzed descriptively to the pattern of distribution, marketing margin percentage is calculated by the value of marketing margin and accepted part of the manufacturer. The results of the study are in District Limpung there are two distribution channels, namely the First; Breeders to KUD, KUD to milk processing industry, dairy processing industry to the consumer; secondly, Consumers to Farmers. The highest marketing margin on dairy cows milk is highest in the craftsman / processor (Rp.4.250, Breeders to KUD (U.S. $ 50, KUD to Pengelolah milk (U.S. $ 200 and a second pattern Breeders To Consumer (U.S. $ 2,110,Suggestions in this study, namely; (1 In the patterns of distribution channels in use in the District of East and West Unggaran biggest advantage enjoyed by milk processing industry (IPS When farmers sell their products to cooperatives. It is expected that the government can

Subsets of Women With Close or Positive Margins After Breast-Conserving Surgery With High Local Recurrence Risk Despite Breast Plus Boost Radiotherapy

International Nuclear Information System (INIS)

Lupe, Krystine; Truong, Pauline T.; Alexander, Cheryl; Lesperance, Mary; Speers, Caroline; Tyldesley, Scott

2011-01-01

Purpose: (1) To examine the effect of surgical margin status on local recurrence (LR) and survival following breast-conserving therapy; (2) To identify subsets with close or positive margins with high LR risk despite whole breast radiotherapy (RT) plus boost. Methods and Materials: Subjects were 2,264 women with pT1–3, any N, M0 invasive breast cancer, treated with breast-conserving surgery and whole breast ± boost RT. Five-year Kaplan-Meier (KM) LR, breast cancer–specific and overall survival (BCSS and OS) were compared between cohorts with negative (n = 1,980), close (n = 222), and positive (n = 62) margins. LR rates were analyzed according to clinicopathologic characteristics. Multivariable Cox regression modeling and matched analysis of close/positive margin cases and negative margin controls were performed. Results: Median follow-up was 5.2 years. Boost RT was used in 92% of patients with close or positive margins. Five-year KM LR rates in the negative, close and positive margin cohorts were 1.3%, 4.0%, and 5.2%, respectively (p = 0.001). BCSS and OS were similar in the three margin subgroups. In the close/positive margin cohort, LR rates were 10.2% with age 10% despite whole breast plus boost RT. These patients should be considered for more definitive surgery.

The financial performance of selected investor-owned and not-for-profit system hospitals before and after Medicare prospective payment.

Science.gov (United States)

Friedman, B; Shortell, S

1988-01-01

This article analyzes determinants of cost and profitability, including the influence of Medicare prospective payment (PPS), between 1983 and 1985 for nearly 300 hospitals belonging to investor-owned (IO) and not-for-profit (NFP) systems. Using approaches that assure comparability of financial data, and including case mix, quality, competition, and regulation measures, the findings indicate that (1) in both years, competitive environment, case mix, age of facility, and scope of diversified services were important determinants of average cost, while a process measure of quality was insignificant and the independent effect of ownership type was insignificant for cost; (2) effects of HMO competition and hospital strategy were stronger in 1985 than in 1983; (3) operating margins for all types of hospitals showed increases, with a somewhat greater improvement for NFP system members; and (4) significantly greater declines in volume of care occurred for IO system members. Implications for future research are discussed. PMID:3133323

Refinery profitability

International Nuclear Information System (INIS)

Tobin, G.

1998-01-01

Recently there has been considerable shutting down of oil refinery capacity in response to the increasing pressures on profitability. This article examines the situation and the industry's response to it, including the drive for mergers, disposal of fuel oil, downsizing of workforces and strategic alliances. Future trends and their implications are also discussed. (UK)

Siemens IT solutions for power sector. PROFIT solutions

International Nuclear Information System (INIS)

Lunter, P.

2004-01-01

The cost reduction, flexibility and revenue increase, potential exploitation, productivity increase, and business opportunities exploitation - that is all what can be required in the races for the promonent positioning on the electricity power market. These requirements can be realized by the sophisticated IT solutions hand-tailored to the special requirements of the electric power producers and tradesmen. This approach makes it possible to achieve greater profit. Our solutions 'PROFIT Solutions', that are symbiosis of the most progressive information technologies and the power plant techniques of the company Siemens, satisfy submitted specifications in substantial measure. The system solutions 'PROFIT Solutions' comprise three solution groups: process, operation a business. The solutions of the group 'IT Process Solutions' increase flexibility and manoeuvrability of equipment, improve the efficiency and contribute to more economical operation of the power generation. Solutions 'IT Process Solutions' simplify and shorten the period of power cycles and conduce to higher labour productivity. Solutions group 'IT Process Solutions' approaches equipment to the market - supports the profit strategies, helps quickly and expertly to determine and predict hazards. The extension PROFIT Cockpit means the nuance to the solutions world 'PROFIT Solutions'. The survey about the whole installation is within reach at the simple touch of a button. It is possible to compile the total system part by part from single solutions 'PROFIT Solutions'. As a matter of fact all single parts can be interconnected with already existing solutions. Routines 'PROFIT Solutions' cooperate with all modern control systems. (author)

Breast conservation therapy based on liberal selection criteria and less extensive surgery. Analysis of cases with positive margins

International Nuclear Information System (INIS)

Amemiya, Atsushi; Kondo, Makoto

1999-01-01

The relationship between the margin status and the risk of in-breast recurrence (IBR) is an important consideration in patients treated with breast conservation therapy but has not been defined adequately. To address this issue, 1533 clinical stage I and II patients who completed irradiation therapy between 1983 and 1998 were evaluated. Only selection criterion was whether she could be satisfied with cosmesis after lumpectomy. Size and location of the tumor, nodal status, histology and age were not primary consideration. The tumor was excised in such a way to obtain macroscopically clear margins. The breast was treated with 50 Gy of external irradiation but without boost. Margins were evaluated by serially sectioning of the specimen and the margin was judged positive only when cancer cells were present on the inked surface. Margins were also evaluated by scratch cytology. Seventy two IBR were experienced within 5 years. Only age and margin status were found to be independent risk factors. Five-year IBR rate with negative and positive margins was 3.7% and 10.0%, respectively. In patients with positive margins, number of positive site and positive cytology were independent risk factor for IBR. IBR rate among patients with focally involved margins by non-comedo, comedo and invasive ca, was 0.0%, 3.5%, and 8.7%, respectively. IBR rate in more than focal involvement by non-comedo, comedo, and invasive ca, was 4.0%, 33.0% and 30.0%, respectively. If histologically positive margin was also positive cytologically, IBR was 14.8%, whereas only 3.6% if negative cytologically. Even with liberal patient selection and less extensive local treatment, adequate local control can be obtained, provided that margins are histologically and/or cytologically negative. Focal margin involvement by DCIS or more than focal involvement by non-comedo type DCIS does not jeopardize local control. More than focal involvement by comedo DCIS or involvement by invasive ca results in high IBR rate

For-Profit Schools: They Get IT

Science.gov (United States)

Waters, John K.

2011-01-01

The for-profit sector of higher education has generated some disturbing headlines recently. Widely publicized charges of predatory recruiting practices have prompted new regulations and provided fuel for scorching criticism of the entire business model. But while the spotlight is focused on what for-profits are doing wrong, are people overlooking…

Comparison of histologic margin status in low-grade cutaneous and subcutaneous canine mast cell tumours examined by radial and tangential sections.

Science.gov (United States)

Dores, C B; Milovancev, M; Russell, D S

2018-03-01

Radial sections are widely used to estimate adequacy of excision in canine cutaneous mast cell tumours (MCTs); however, this sectioning technique estimates only a small fraction of total margin circumference. This study aimed to compare histologic margin status in grade II/low grade MCTs sectioned using both radial and tangential sectioning techniques. A total of 43 circumferential margins were evaluated from 21 different tumours. Margins were first sectioned radially, followed by tangential sections. Tissues were examined by routine histopathology. Tangential margin status differed in 10 of 43 (23.3%) margins compared with their initial status on radial section. Of 39 margins, 9 (23.1%) categorized as histologic tumour-free margin (HTFM) >0 mm were positive on tangential sectioning. Tangential sections detected a significantly higher proportion of positive margins relative to radial sections (exact 2-tailed P-value = .0215). The HTFM was significantly longer in negative tangential margins than positive tangential margins (mean 10.1 vs 3.2 mm; P = .0008). A receiver operating characteristic curve comparing HTFM and tangentially negative margins found an area under the curve of 0.83 (95% confidence interval: 0.71-0.96). Although correct classification peaked at the sixth cut-point of HTFM ≥1 mm, radial sections still incorrectly classified 50% of margins as lacking tumour cells. Radial sections had 100% specificity for predicting negative tangential margins at a cut-point of 10.9 mm. These data indicate that for low grade MCTs, HTFMs >0 mm should not be considered completely excised, particularly when HTFM is <10.9 mm. This will inform future studies that use HTFM and overall excisional status as dependent variables in multivariable prognostic models. © 2017 John Wiley & Sons Ltd.

Profit U

Science.gov (United States)

Weinstein, Margery

2012-01-01

Preparing employees for the immediate work in front of them is a challenge. While most companies are still mastering effectively training their own workforce, some, such as "Training" magazine Top 10 Hall of Famer The Ritz-Carlton Hotel Company, have set up for-profit academies open to the public. When Ritz-Carlton won the national Malcolm…

Working capital management and its impact on profitability:A study listed manufacturing companies in Sri Lanka

Directory of Open Access Journals (Sweden)

Balasundaram Nimalathasan

2010-12-01

Full Text Available Main purpose of the study is to identify the impact of working capital management on profitability of selected listed manufacturing companies from financial year 2003-2007. Correlation and regression analysis were performed. Results reveals that cash conversion cycle (CCC and return on assets (ROA are negatively correlated the value of -0.127 which is highly significant at 1 percent level of significance, which means that as the cash conversion cycle increases ROA decreases. In addition inventory conversion period (ICP is highly significant at 1 percent level. It indicates that with increasing level of ICP, ROA will be increased -0.065 levels. Further the coefficient of the CCC variable is negative at a value of -0.0503 and p value is 0.006. This implies that an increase in the number of day’s cash conversion cycle by 1 day is associated with a decline in ROA by 5.03%. The results suggest that managers can increase profitability of manufacturing firms by reducing the number of day’s inventories and accounts receivable

Gigantic environmental profit

International Nuclear Information System (INIS)

2001-01-01

The article presents studies on possible profits and advantages by converting vehicles such as buses and taxis from diesel to gas fuel engines for the environment and human beings in Norway. Some applications for automobiles are mentioned

Are loyal customers profitable? : customer satisfaction, customer loyalty and customer profitability at the individual level

OpenAIRE

Helgesen, Øyvind

2000-01-01

Customer satisfaction is supposed to be positively related to profitability. This conception may be called “the paradigm of customer satisfaction”. Nevertheless, only a few studies have examined this fundamental relationship. Thus, evidence for this “much talked about relationship” is questioned. In this working paper the focus is on the individual customer with respect to the relationships between customer satisfaction, customer loyalty and customer profitability at the customer level. The f...

Electronic Payments Profitability Extent Model

Directory of Open Access Journals (Sweden)

Rudolf Vohnout

2016-12-01

Full Text Available Cashless payments are recent phenomena, which even increased with the introduction of contactless means like NFC, PayPass or payWave. Such new methods speed-up the entire payment process and in comparison to cash transactions are much simpler and faster. But on the other hand the key question for merchant is if it is worth to have such device, which accept these new payment means or not to have the terminal at all. What is the amount of cash flow, which delimits the cash holdings to be still profitable? This paper tries to give answers to such question by presenting general profitability model, which will address defining the cash threshold amount. The aim is to show that cash holdings could be profitable up to certain amount, but after the threshold is met, cashless payment methods are fairly superior despite their additional costs.

Education for Profit, Education for Freedom

Science.gov (United States)

Nussbaum, Martha C.

2009-01-01

Education is often discussed in low-level utilitarian terms: how can educators produce technically trained people who can hold onto "their" share of the global market? With the rush to profitability, values precious for the future of democracy are in danger of getting lost. The profit motive suggests to most concerned politicians that science and…

Impact of Margin Status on Local Recurrence After Mastectomy for Ductal Carcinoma In Situ

International Nuclear Information System (INIS)

Childs, Stephanie K.; Chen, Yu-Hui; Duggan, Margaret M.; Golshan, Mehra; Pochebit, Stephen; Punglia, Rinaa S.; Wong, Julia S.; Bellon, Jennifer R.

2013-01-01

Purpose: To examine the rate of local recurrence according to the margin status for patients with pure ductal carcinoma in situ (DCIS) treated by mastectomy. Methods and Materials: One hundred forty-five consecutive women who underwent mastectomy with or without radiation therapy for DCIS from 1998 to 2005 were included in this retrospective analysis. Only patients with pure DCIS were eligible; patients with microinvasion were excluded. The primary endpoint was local recurrence, defined as recurrence on the chest wall; regional and distant recurrences were secondary endpoints. Outcomes were analyzed according to margin status (positive, close (≤2 mm), or negative), location of the closest margin (superficial, deep, or both), nuclear grade, necrosis, receptor status, type of mastectomy, and receipt of hormonal therapy. Results: The primary cohort consisted of 142 patients who did not receive postmastectomy radiation therapy (PMRT). For those patients, the median follow-up time was 7.6 years (range, 0.6-13.0 years). Twenty-one patients (15%) had a positive margin, and 23 patients (16%) had a close (≤2 mm) margin. The deep margin was close in 14 patients and positive in 6 patients. The superficial margin was close in 13 patients and positive in 19 patients. One patient experienced an isolated invasive chest wall recurrence, and 1 patient had simultaneous chest wall, regional nodal, and distant metastases. The crude rates of chest wall recurrence were 2/142 (1.4%) for all patients, 1/21 (4.8%) for those with positive margins, 1/23 (4.3%) for those with close margins, and 0/98 for patients with negative margins. PMRT was given as part of the initial treatment to 3 patients, 1 of whom had an isolated chest wall recurrence. Conclusions: Mastectomy for pure DCIS resulted in a low rate of local or distant recurrences. Even with positive or close mastectomy margins, the rates of chest wall recurrences were so low that PMRT is likely not warranted

Profit and place

Directory of Open Access Journals (Sweden)

Ian Bentley

1997-01-01

Full Text Available The article deals with the physical and symbolic effects the built environment has on human activities in a capitalist economy. The built environment is integrated in the capitalist economy on three levels: as the focus of a profit-oriented manufacturing industry, as the setting for all sorts of other enterprises and as the built context of the whole economy. The built environment is understood as a commodity. The capitalist system contains inbuilt tensions which have important design implications: the first tension arises because the system, if left to itself, lacks any overall planning functions, the second tension stems from the ability of the system to generate profit and the third arises from the character of labour, which distinguishes it from other commodities used in the production process. In conclusion methods of designing built environments, which perpetuate social order, are discussed.

10 CFR 603.230 - Fee or profit.

Science.gov (United States)

2010-01-01

... participant is to receive fee or profit. Note that this policy extends to all performers of the project... subrecipients' payment of reasonable fee or profit when making purchases from suppliers of goods (e.g., supplies...

The Influence Of Profitability, Firm Size, Productivity And Reputation Of The Auditor On The Rating Of Sukuk

Directory of Open Access Journals (Sweden)

Galih Estu Pranoto

2017-07-01

Full Text Available The purpose of this research is to find out the effect between the profitability, firm size, productivity, and auditor reputation toward rating sukuk. Rating sukuk is the dependent variables in this research were measured by scoring technique based on Pefindo’s rating. For the independent variables in this research, using profitability were measured by return of equity ratio, firm size were measured by natural logarithm of total asset, productivity were measured by comparison sales with employees, auditor reputation using dummy method. This research using secondary data which is non bank companies from Indonesian Stock Exchange Listed Company and rated by Pefindo in 2009-2013. While the sampling method used was purposive method which is overall 35 sample choose. This research uses logistic ordinal regression to test the hypothesis with SPSS computer program. The research result show that produktivity and auditor reputation partially have a significant negative influence toward rating sukuk, while profitability and firm size have no significant influence toward rating sukuk.

Anthropogenic impacts on continental margins: New frontiers and engagement arena for global sustainability research and action

Science.gov (United States)

Liu, K. K.; Glavovic, B.; Limburg, K.; Emeis, K. C.; Thomas, H.; Kremer, H.; Avril, B.; Zhang, J.; Mulholland, M. R.; Glaser, M.; Swaney, D. P.

2014-12-01

There is an urgent need to design and implement transformative governance strategies that safeguard Earth's life-support systems essential for long-term human well-being. From a series of meetings of the Continental Margins Working Group co-sponsored by IMBER and LOICZ of IGBP, we conclude that the greatest urgency exists at the ocean-land interface - the continental margins or the Margin - which extends from coastlands over continental shelves and slopes bordering the deep ocean. The Margin is enduring quadruple squeeze from (i) Population growth and rising demands for resources; (ii) Ecosystem degradation and loss; (iii) Rising CO2, climate change and alteration of marine biogeochemistry and ecosystems; and (iv) Rapid and irreversible changes in social-ecological systems. Some areas of the Margin that are subject to the greatest pressures (e.g. the Arctic) are also those for which knowledge of fundamental processes remains most limited. Aside from improving our basic understanding of the nature and variability of the Margin, priority issues include: (i) investment reform to prevent lethal but profitable activities; (ii) risk reduction; and (iii) jurisdiction, equity and fiscal responsibility. However, governance deficits or mismatches are particularly pronounced at the ocean-edge of the Margin and the prevailing Law of the Sea is incapable of resolving these challenges. The "gold rush" of accelerating demands for space and resources, and variability in how this domain is regulated, move the Margin to the forefront of global sustainability research and action. We outline a research strategy in 3 engagement arenas: (a) knowledge and understanding of dynamic Margin processes; (b) development, innovation and risk at the Margin; and (c) governance for sustainability on the Margin. The goals are (1) to better understand Margin social-ecological systems, including their physical and biogeochemical components; (2) to develop practical guidance for sustainable development

Metaphors and the Pejorative Framing of Marginalized Groups: Implications for Social Work Education

Science.gov (United States)

O'Brien, Gerald V.

2009-01-01

Although the importance of metaphors is described in the social work literature, few articles or books in the profession have considered the role of metaphors in social policy, especially in providing a negative frame within which marginalized groups can be considered. This negative framing naturally supports aversive social policies designed to…

Vectors for Increasing the Effectiveness of Profit Management at Company Level

Directory of Open Access Journals (Sweden)

І. V.

2017-05-01

Full Text Available Imperfect management of processes involved in accumulation and disposal of profit at Ukrainian companies affects their performance, with the consequent losses of public budget revenues. This raises the need for new and more effective mechanisms for accumulation and disposal of corporate profit, which would be focused on maximal utilization of production, marketing and fiscal capacities of business entities and enhancement of their competitiveness at domestic and global market. The article’s objective is to conduct theoretical study of profit as an economic category and an essential component of company’s performance, sum up the principles of profit management, and analyze the profit management system at company level. A brief review of theoretical definitions of profit is made, economic origin of profit and its role in business operation in the Ukrainian context is highlighted. The components of profit management system at company level, essential principles of strategic management of company profit, organizational and economic mechanism for company profit management, a strategy for profit management at company level is discussed and summed up. The organizational and economic mechanism for profit quality management at company level is proposed.

Approaches to economic analysis of profitability of forestry enterprises

Directory of Open Access Journals (Sweden)

O.M. Dzyubenko

2018-03-01

Full Text Available The article substantiates the directions of adaptation of existing analytical procedures for assessing the profitability to specific activities of forestry enterprises, which is an integral part of evaluating financial potential of enterprises of the investigated branch. In particular, the author identifies the following analytical procedures that make it possible to assess the performance of forestry enterprises and determine its financial potential: the return on equity (assets on net profit, the return on equity, the return on assets, the return on sales of profits from operating activities, the profitability of sold products at net profit, reinvestment factor, the economic growth sustainability ratio, the period of payback capital, the payback period of equity capital. On the basis of these indicators, the current state of profitability of forestry enterprises was substantiated and their critical points were determined.

Effect of Margin Designs on the Marginal Adaptation of Zirconia Copings.

Science.gov (United States)

Habib, Syed Rashid; Al Ajmi, Mohammed Ginan; Al Dhafyan, Mohammed; Jomah, Abdulrehman; Abualsaud, Haytham; Almashali, Mazen

2017-09-01

The aim of this in vitro study was to investigate the effect of Shoulder versus Chamfer margin design on the marginal adaptation of zirconia (Zr) copings. 40 extracted molar teeth were mounted in resin and prepared for zirconia crowns with two margin preparation designs (20=Shoulder and 20=Chamfer). The copings were manufactured by Cercon® (DeguDent GmbH, Germany) using the CAD/CAM system for each tooth. They were tried on each tooth, cemented, thermocycled, re-embedded in resin and were subsequently cross sectioned centrally into two equal mesial and distal halves. They were examined under electron microscope at 200 X magnification and the measurements were recorded at 5 predetermined points in micrometers (µm). The o verall mean marginal gap for the two groups was found to be 206.98+42.78µm with Shoulder margin design (Marginal Gap=199.50+40.72µm) having better adaptation compared to Chamfer (Marginal Gap=214.46+44.85µm). The independent-samples t-test showed a statistically non-significant difference (p=.113) between the means of marginal gap for Shoulder and Chamfer margin designs and the measurements were recorded at 5 predetermined points for the two groups. The Chamfer margin design appeared to offer the same adaptation results as the Shoulder margin design.

Profitability of timber harvesting and timber transportation enterprises

International Nuclear Information System (INIS)

Rajamaeki, J.

1996-01-01

In co-operation with the major companies contracting out forestry work and Statistics Finland, Metsaeteho carried out a project with the objective of analysing the economic profitability of timber harvesting and transportation enterprises in 1994. The calculation of profitability was based on utilisation of last livelihoods taxation data (EVR) that Statistics Finland was in possession of. The basic material comprised data that the companies contracting out forestry work had full-time entrepreneurs. There were 255 forestry machine contractor enterprises and 270 trucking enterprises. Statistics Finland was responsible for computations of the results of the project. The calculation of the indicators of profitability was based on the recommendations of Yritystutkimusneuvottelukunta, a committee looking into the functioning of enterprises. The year 1994 was a good year from the viewpoint of profitability of both forestry machine contractors as well as trucking enterprises. With full depreciations and salary adjustments attended to, both enterprise groups still showed a mean profitability of ca. 8 %. The yield of invested capital was ca. 25 %. The differences in profitability among enterprises were great in both groups and in different parts of the country

Hospital market concentration, pricing, and profitability in orthopedic surgery and interventional cardiology.

Science.gov (United States)

Robinson, James C

2011-06-01

To examine the association between hospital market concentration and pricing. Hospitals have been merging into systems that potentially wield bargaining power over private health insurers. Concern is growing among policy makers that these systems may respond to provisions of the 2010 health reform legislation by further increasing consolidation and prices. Multivariate statistical methods were used to evaluate the association between hospital market concentration, prices, and profits (contribution margins) for commercially insured patients admitted for any of 6 major cardiac and orthopedic surgery procedures, adjusting for characteristics of the patient (diagnoses, comorbidities,complications) and of the hospital (size, patient volume, teaching status). Data were obtained on 11,330 patients treated in 61 hospitals in 27 markets across 8 states in 2008. Hospital prices for patients in concentrated markets were higher than hospital prices for otherwise-comparable patients in competitive markets by 25.1% for coronary angioplasty, 13.0%for cardiac rhythm management (CRM) device insertion, 19.2% for total knee replacement, 24.1%for total hip replacement, 19.3% for lumbar spine fusion, and 22.7% for cervical spine fusion (P markets by $5259 for angioplasty, $3417 for CRM device insertion, $4123 for total knee replacement, $5889 for total hip replacement, $7931 for lumbar spine fusion, and $4663 for cervical spine fusion (P markets charge significantly higher prices and earn significantly higher margins from private insurers than do hospitals in competitive markets.

The Effect of Ownership Structure, Profitability, Leverage, and Firm Size on Corporate Social Responsibility (CSR

Directory of Open Access Journals (Sweden)

Fifi Swandari

2016-11-01

Full Text Available Corporate Social Responsibility (CSR, indicator used was the index of CSR disclosure with 64 companies listed in Indonesia Stock Exchange period of 2012 as the samples. This research used multiple regression analysis. The results show that institutional ownership, managerial and foreign has no effect on CSR. This indicates that the ownership structure could not improve CSR in the company. On the contrary, profitability has an influence on CSR. It indicates that companies with high profits have the fund flexibility to implement CSR programs that have been set. Moreover, corporate debt levels also affect the CSR with the negative direction. This means that companies with high debt levels will usually focus more on managing faced business risks rather than on CSR program. Last, company size has no effect on the company CSR.

Summer Farms in Switzerland: Profitability and Public Financial Support

Directory of Open Access Journals (Sweden)

Tobias Schulz

2018-02-01

Full Text Available Summer farms are seasonal enterprises in high-elevation mountain regions, established for and highly specialized in grazing ruminants. This article synthesizes studies by the Swiss AlpFUTUR research program on the profitability of and public financial support for summer farms. It highlights current challenges of Swiss pastoralism and makes recommendations for future reforms. Profitability hinges on the size of the summer farms as well as on their ability to create value added. Particularly for smaller summer farms, key value-added strategies appear to be innovative cheese production and effective direct marketing. Public financial support is substantial, and the underlying agri-environmental scheme is relatively sophisticated. Eligibility for public support is based on both action-oriented and results-oriented criteria. Direct payments consider not only the number of livestock but also the duration of their presence on the summer pastures. For each summer farm, a stocking target is defined based on the pasture's carrying capacity. However, this target does not take into account the wide variation in forage needs between different meat and milk production systems. During the last decade, there has been a decline in the number of cattle sent to summer farms. Understocking is widespread, and the abandonment of marginal pastures has increased, resulting in scrub encroachment. The remaining cattle tend to be concentrated on more productive surfaces to reduce management costs; this causes overgrazing. More attention should therefore be given to the accurate enforcement of agri-environmental standards and to regional-level agreement on which surfaces should be abandoned. Supporting traditional pastoral practices remains an explicit objective of Swiss agricultural policy. Recently introduced agri-environmental payment schemes promoting biodiversity conservation can complement the summer farm subsidies. However, implementation costs are likely to

The relationship between bed size and profitability in South Carolina hospitals.

Science.gov (United States)

Kim, Yang K; Glover, Saundra H; Stoskopf, Carleen H; Boyd, Suzan D

2002-01-01

The purpose of the study is to identify factors affecting hospital profitability and to find the optimal hospital bed size that assures maximum profit. This is a cross-sectional study using survey data obtained from acute care hospitals in South Carolina in 1997. The relationship of hospital profitability and hospital bed size revealed that when bed size increases, hospital profitability increases, decreases, and then increases again. For the patient profit proportion, the turning points in bed size are 238.22 and 560.08. For the total profit proportion, the turning points in bed size are 223.31 and 503.86. The results on the relationship between bed size and hospital profitability indicate that medium-size hospitals have less profitability.

Profit Forecast Model Using Monte Carlo Simulation in Excel

Directory of Open Access Journals (Sweden)

Petru BALOGH

2014-01-01

Full Text Available Profit forecast is very important for any company. The purpose of this study is to provide a method to estimate the profit and the probability of obtaining the expected profit. Monte Carlo methods are stochastic techniques–meaning they are based on the use of random numbers and probability statistics to investigate problems. Monte Carlo simulation furnishes the decision-maker with a range of possible outcomes and the probabilities they will occur for any choice of action. Our example of Monte Carlo simulation in Excel will be a simplified profit forecast model. Each step of the analysis will be described in detail. The input data for the case presented: the number of leads per month, the percentage of leads that result in sales, , the cost of a single lead, the profit per sale and fixed cost, allow obtaining profit and associated probabilities of achieving.

The Impact of Revenue Diversification on Bank Profitability and Stability: Empirical Evidence from South Asian Countries

Directory of Open Access Journals (Sweden)

Shoaib Nisar

2018-04-01

Full Text Available This paper is a contribution to the ongoing debate on the benefits and drawbacks of bank revenue diversification. Revenue diversification may benefit banks if diversified activities are inherently less risky and possess high returns, while it may hurt banks if diversified activities are more risky and have low returns. Analyzing a panel dataset of 200 commercial banks from all South Asian countries, we found that overall revenue diversification into non-interest income has a positive impact on the profitability and stability of South Asian commercial banks. We further observed that different types of non-interest income-generating activities have different impacts on bank performance and stability. While fees and commission incomes have a negative impact on the profitability and stability of South Asian commercial banks, other non-interest income has a positive impact. Our results imply that banks can benefit from revenue diversification if they diversify into specific types of non-interest income-generating activities. Our findings are robust and relevant to the use of alternative measures of revenue diversification, profitability and stability.

Economic gains stimulate negative evaluations of corporate sustainability initiatives

Science.gov (United States)

Makov, Tamar; Newman, George E.

2016-09-01

In recent years, many organizations have sought to align their financial goals with environmental ones by identifying strategies that maximize profits while minimizing environmental impacts. Examples of this `win-win' approach can be found across a wide range of industries, from encouraging the reuse of hotel towels, to the construction of energy efficient buildings, to the large-scale initiatives of multi-national corporations. Although win-win strategies are generally thought to reflect positively on the organizations that employ them, here we find that people tend to respond negatively to the notion of profiting from environmental initiatives. In fact, observers may evaluate environmental win-wins less favourably than profit-seeking strategies that have no environmental benefits. The present studies suggest that how those initiatives are communicated to the general public may be of central importance. Therefore, organizations would benefit from carefully crafting the discourse around their win-win initiatives to ensure that they avoid this type of backlash.

The liquidity-profitability trade-off in Bulgaria in terms of the changed financial management functions during crisis

Directory of Open Access Journals (Sweden)

Evgeni Raykov

2017-01-01

Full Text Available The analysis evaluates the basic functions of modern financial managers and important aspects related to their roles in the business environment. In consideration of the global changes within the economic and financial system after 2007, the role of financial managers in corporations significantly changed. This has happened with the increasing number of functions they perform and with extending the influence of the financial manager on almost all other areas of activity within companies - trading, logistics, property management, production and technology through changing highlights and guidance on financial policies, changes in the scope of activities and time determination of the decisions taken. The analysis points at the increasing role of liquidity management in times of crisis and its effect on maximizing company’s results. The effective financial performance should guarantee a minimum impact of liquidity decisions on profitability and wealth. Empirical tests for the Bulgarian economy in crisis showed weak but clearly negative relationship between controllable liquidity and operational profitability in long term. Moreover, the volatility of liquidity remains relatively low and poorly related to the considerable variations in profitability. Contrary to that, the liquidity is not significantly influenced by the capital gains due to the instable profitability for the analysed period.

Fortum Oil and Gas 2000: Exceptionally high price of crude oil and strong refining margins

International Nuclear Information System (INIS)

Ropponen, V.-M.

2001-01-01

Fortum intends to be an active player in the structural reorganization of the oil business by utilizing its niche position in oil refining. Fortum produces sophisticated motor fuel components, which it uses in its reformulated gasolines and sells and exports to other oil companies, even to highly demanding markets in California. The increase in the price of crude oil considerably improved the results of Oil and Gas Upstream. Similarly, an improvement in the refining margin, as well as profitable shipping operations and a strong demand for gasoline components, boosted the results of Oil Refining and Marketing. (orig.)

Transforming the tobacco market: why the supply of cigarettes should be transferred from for-profit corporations to non-profit enterprises with a public health mandate.

Science.gov (United States)

Callard, C; Thompson, D; Collishaw, N

2005-08-01

Current tobacco control strategies seek primarily to decrease the demand for cigarettes through measures that encourage individuals to adopt healthier behaviours. These measures are impeded and undermined by tobacco corporations, whose profit drive compels them to seek to maintain and expand cigarette sales. Tobacco corporations seek to expand cigarette sales because they are for-profit business corporations and are obliged under law to maximise profits, even when this results in harm to others. It is not legally possible for a for-profit corporation to relinquish its responsibility to make profits or for it to temper this obligation with responsibilities to support health. Tobacco could be supplied through other non-profit enterprises. The elimination of profit driven behaviour from the supply of tobacco would enhance the ability of public health authorities to reduce tobacco use. Future tobacco control strategies can seek to transform the tobacco market from one occupied by for-profit corporations to one where tobacco is supplied by institutions that share a health mandate and will help to reduce smoking and smoking related disease and death.

Competition for FDI and Profit Shifting

DEFF Research Database (Denmark)

Ma, Jie; Raimondos-Møller, Pascalis

When countries compete for the location of a new multinational plant they need to be aware of the profit shifting opportunities this new plant creates for the global multinational firm. By modelling explicitly the multinational’s intra-firm transactions, we show that the home market advantage...... that large countries have due to their size will be counteracted by such profit shifting opportunities. As a result of this, large countries will not be able to capitalize on their size and sustain high corporate taxes. We show that, on the basis of these profit shifting opportunities, a small country can...... easily win the location game ahead of a large country. How lenient the small country is in implementing transfer pricing regulations turns out to be an important variable in such location games....

Profit Sharing and Reciprocity: Theory and Survey Evidence

OpenAIRE

Cornelissen, Thomas; Heywood, John S.; Jirjahn, Uwe

2010-01-01

The 1/n problem potentially limits the effectiveness of profit sharing in motivating workers. While the economic literature suggests that reciprocity can mitigate this problem, it remains silent on the optimal degree of reciprocity. We present a representative model demonstrating that reciprocity may increase productive effort but may also increase unproductive effort such as socializing on the job. The model implies that reciprocity increases profit up to a point but decreases profit beyond ...

Benefits and Costs of For-Profit Public Education

Directory of Open Access Journals (Sweden)

Alex Molnar

2001-04-01

Full Text Available As a policy initiative, for-profit operation of public schools has not lived up to the claims of its proponents. An examination of issues such as teaching methods, academic achievement, autonomy, local control, and the image and influence of for-profit public schools suggests that "for-profits" are unlikely to succeed in the long term in improving the overall quality of public education. They do, however, seem capable of harming public schools.

Cooperation and profit allocation in distribution chains

NARCIS (Netherlands)

Guardiola, Luis A.; Meca, Ana; Timmer, Judith B.

2007-01-01

We study the coordination of actions and the allocation of profit in supply chains under decentralized control in which a single supplier supplies several retailers with goods for replenishment of stocks. The goal of the supplier and the retailers is to maximize their individual profits. Since the

An Algorithm for the Nucleolus of Airport Profit Problems

NARCIS (Netherlands)

Brânzei, R.; Inarra, E.; Tijs, S.H.; Zarzuelo, J.

2003-01-01

Airport profit games are a generalization of airport cost games as well as of bankruptcy games.In this paper we present a simple algorithm to compute the nucleolus of airport profit games.In addition we prove that there exists an unique consistent allocation rule in airport profit problems, and it

Causes of different profitability of agricultural sector

Directory of Open Access Journals (Sweden)

Vučković Branko

2016-01-01

Full Text Available This work involves identification of causes of different profitability of agricultural sector done on case study of nearly identical agricultural enterprises. It shows that financial mix even in scope of similar companies can lead to various profit indicators. Through comparative financial analysis in the same industry and activity by applying methods and techniques we have concluded that company PP Ratkovo operates more stable and closer to determined norms and also shows better results in majority of the indicators. Horizontal and vertical analysis indicates that companies in Agribusiness partner group use expensive external sources of financing. We have precisely defined in which cost segment occurs highest distinction. Also we have shown reasons why PP Ratkovo in the last two years manifests great profitability measured by ebit, ebitda and net profit as well as excellent structure of material costs and wages costs in in frame of the operating income, and reasons why enterprises in Agribusiness partner group does not.

Profit inefficiency and its determinants among yam producers in Imo ...

African Journals Online (AJOL)

Farm profit inefficiency in yam production in Imo State, Nigeria was estimated using stochastic translog profit frontier model. The mean output of yam producers was 10.3tons/ha, while the mean level of profit inefficiency was 63.7 percent with a wide range of 23.41 – 94.23 percent. Mean loss of profit was N76061 per hectare.

Perceived marginalization and aggression: a longitudinal study with low-educated adolescents.

Science.gov (United States)

Issmer, Christian; Wagner, Ulrich

2015-03-01

Social exclusion can evoke aggression. In the past two decades research has demonstrated this effect both for interpersonal and societal forms of exclusion. In addition, recent violent uprisings, like the London riots in August 2011, have been linked to social exclusion in the media. However, so far there is a lack of longitudinal studies which examine the aggression-enhancing effect of societal-level exclusion (i.e., marginalization) in disadvantaged groups. This research investigates the impact of perceived marginalization on aggression in a sample of N = 181 adolescents with a low educational background by means of a two-wave longitudinal study. The results of structural equation analyses are consistent with the hypothesis that perceived marginalization enhances aggression, and that this effect is mediated by the extent of negative societal meta-stereotypes. Furthermore, the reverse path from aggression to perceptions of marginalization is also significant. We discuss the implications of these findings and highlight practical consequences. © 2014 The British Psychological Society.

Provision of Child Care: Cost Functions for Profit-Making and Not-for-Profit Day Care Centers

OpenAIRE

Swati Mukerjee; Ann Dryden Witte; Sheila Hollowell

1990-01-01

This paper estimates cost functions for day care centers in Massachusetts. The production technology assumed is the generalized homothetic Cobb-Douglas production function. The cost function dual to this production function is estimated separately for profit-making (P1Os) and not-for-profit (NPOs) organizations. The results are discussed in the context of current NPO literature. NPOs are found to be operating at higher average coats than PMOs for most output levels as predicted by the literat...

The profitability of companies offering services to seniors: Comparative study of nursing homes and services at home

Directory of Open Access Journals (Sweden)

Teresa M. Monllau Jaques

2013-09-01

Full Text Available Purpose: We considered two objectives; on one hand, to analyze the effectiveness and efficiency of enterprises, the purpose of which is to provide services to the elderly. On the other hand, examine whether the enactment of law 39/2006, has meant a change in the profitability of the companies.Design/methodology/approach: We study the accounting behaviour of companies that have more than 250 employees. The period submits to study is over the years 2004 to 2011. The data has been obtained through the SABI and AMADEUS databases.The variables analyzed were the operating margin (OMR rate and the rate of rotation (TAR assets ratioFindings and Originality/value: The analysis of the evolution of OMR shows that in the subsectors analyzed, the Spanish companies are not profitable. The conclusion is not the same when the variable analyzed is TAR. It shows a change in the behaviour of the analyzed companies since 2007. This variation is statistically significant in the case of the OMR, but not so in the case of TAR.Originality/value: The subsectors analyzed have been little studied in Spain. Knowing the evolution of their behaviour will improve the competitiveness of enterprises.

THE EFFECT OF CORPORATE GOVERNANCE DISCLOSURE ON INVESTOR REACTIONS WITH PROFITABILITY AS MODERATING VARIABLE

Directory of Open Access Journals (Sweden)

Hariadi K.L.

2017-08-01

Full Text Available The aim of this research is to understand how Corporate Governance affects investor’s reaction in capital market by profitability as a moderating variable. This research uses secondary data obtained from Indonesian Stock Exchange. Investor’s reaction is measured by Cumulative Abnormal Return, which happened around the time of annual report publication. Corporate Governance are measured by Institutional ownership, ownership by board of commissioner, audite commite, and independent commissioner. Profitability as moderating variabel is measured by Return on Asset. This research was done to 25 companies which were listed in Indeks LQ 45 in Indonesian Stock Exchange during 2015-2016. Data analysis techniques used in this research are regresion analysis and moderated regresion analysis (MRA. The result shows that corporate governance (Institutional ownership, ownership by board of commissioner, audite commite, and independent commissioner negatively affect Cumulative Abnormal Return. Profitability as a moderating variable was able to explain the relationship of corporate governance (ownership by board of commissioner and audite commite affect significantly to Cumulative Abnormal Return partially. Corporate governance does not have any impact to Cumulative Abnormal Return value, because of the implementation of corporate governance in Indonesia is not provide optimum results mean while in the process of considering corporate governance practices take time to know the benefits.

Inter-Relationship between Profitability, Growth and Size: A Case of Non-Financial Companies from Pakistan

Directory of Open Access Journals (Sweden)

Rehana Kouser

2012-12-01

Full Text Available The purpose of this paper is to provide an in-depth description of the inter-relationship between firm size, growth, and profitability of non-financial companies listed at Karachi stock exchange. The study is based on the sample of 70 (seventy non-financial companies listed at Karachi Stock Exchange of Pakistan, selected on the basis of their market capitalization. Panel data techniques were employed using 700 observations of each of the variables of study; size(log natural of total assets, growth (sustainable growth rate for firm and profitability (return on assets. Observations are collected for ten years (2001-2010. The study concluded thatthere is study reveals that all the profitability has strong positive relationship with the growth of the firm; however size has less significant and negative impact on the profitability. Onesuggestion for further research would be to replicate the study in order to get more cases. Furthermore, it would be valuable to take a more long-term focus to examine the described relationships in the long run. The paper highlights the importance of these measures which are generally used for performance evaluation. Paper sets out the criteria that under which situations the company should focus which of the measure, so that company may derive its strategies on that way. This paper improves our preferences about the three major measures of the firm. Moreover, it contributes to the literature of financial management that how these three measures have trade-off between them.

Optimal solutions for routing problems with profits

NARCIS (Netherlands)

Archetti, C.; Bianchessi, N.; Speranza, M. G.

2013-01-01

In this paper, we present a branch-and-price algorithm to solve two well-known vehicle routing problems with profits, the Capacitated Team Orienteering Problem and the Capacitated Profitable Tour Problem. A restricted master heuristic is applied at each node of the branch-and-bound tree in order to

Management Practices: Are Not For Profits Different?

NARCIS (Netherlands)

J. Delfgaauw (Josse); A.J. Dur (Robert); C. Propper (Propper); S. Smith (Sarah)

2011-01-01

textabstractRecent studies have demonstrated the importance of good management for firm performance. Here, we focus on management in not-for-profits (NFPs). We present a model predicting that management quality will be lower in NFPs compared to for-profits (FPs), but that outputs may not be worse if

DISPAQ: Distributed Profitable-Area Query from Big Taxi Trip Data.

Science.gov (United States)

Putri, Fadhilah Kurnia; Song, Giltae; Kwon, Joonho; Rao, Praveen

2017-09-25

One of the crucial problems for taxi drivers is to efficiently locate passengers in order to increase profits. The rapid advancement and ubiquitous penetration of Internet of Things (IoT) technology into transportation industries enables us to provide taxi drivers with locations that have more potential passengers (more profitable areas) by analyzing and querying taxi trip data. In this paper, we propose a query processing system, called Distributed Profitable-Area Query ( DISPAQ ) which efficiently identifies profitable areas by exploiting the Apache Software Foundation's Spark framework and a MongoDB database. DISPAQ first maintains a profitable-area query index (PQ-index) by extracting area summaries and route summaries from raw taxi trip data. It then identifies candidate profitable areas by searching the PQ-index during query processing. Then, it exploits a Z-Skyline algorithm, which is an extension of skyline processing with a Z-order space filling curve, to quickly refine the candidate profitable areas. To improve the performance of distributed query processing, we also propose local Z-Skyline optimization, which reduces the number of dominant tests by distributing killer profitable areas to each cluster node. Through extensive evaluation with real datasets, we demonstrate that our DISPAQ system provides a scalable and efficient solution for processing profitable-area queries from huge amounts of big taxi trip data.

Willow growing - Methods of calculation and profitability

International Nuclear Information System (INIS)

Rosenqvist, H.

1997-01-01

The calculation method presented here makes it possible to conduct profitability comparisons between annual and perennial crops and in addition take the planning situation into account. The method applied is a modified total step calculation. The difference between a traditional total step calculation and the modified version is the way in which payments and disbursements are taken into account over a period of several years. This is achieved by combining the present value method and the annuity method. The choice of interest rate has great bearing on the result in perennial calculations. The various components influencing the interest rate are analysed and factors relating to the establishment of the interest rate in different situations are described. The risk factor can be an important variable component of the interest rate calculation. Risk is also addressed from an approach in accordance with portfolio theory. The application of the methods sheds light on the profitability of Salix cultivation from the viewpoint of business economics, and also how different factors influence the profitability of Salix cultivation. Aspects studied are harvesting intervals, the importance of yield level, the competitiveness of Salix versus grain cultivation, the influence of income taxes on profitability etc. Methods for evaluation of activities concerning cultivation of a perennial crop are described and also involve the application of nitrogen fertilization to Salix cultivation. Studies have been performed using these methods to look into nitrogen fertilizer profitability in Salix cultivation during the first rotation period. Nitrogen fertilizer profitability has been investigated involving both production functions and cost calculations, taking the year fertilization into consideration. 72 refs., 2 figs., 52 tabs

Components of the Profitability of Technical Currency Trading

OpenAIRE

Schulmeister, Stephan

2005-01-01

This paper investigates the sources of the profitability of 1024 moving average and momentum models when trading in the German mark (euro)/U.S. dollar market based on daily data. The main results are as follows. First, each of these models would have been profitable over the entire sample period. Second, this profitability is exclusively due to the exploitation of persistent exchange rate trends. Third, these results do not change substantially when trading is examined within subperiods. Four...

There's no profiting from a joint venture misadventure.

Science.gov (United States)

Herschman, Gary W

2004-10-01

In St. David's vs. IRS, a not-for-profit health system effectively challenged the IRS's determination that the system should be disqualified from tax exemption because it had entered a 50/50 joint venture with a for-profit system. The court decisions in St. David's, coupled with a recent IRS ruling, Revenue Ruling 2004-51, provide insight into how a not-for-profit hospital can structure such a joint venture to avoid jeopardizing its tax-exempt status.

Occurrence of Eimeria species parasites on small-scale commercial chicken farms in Africa and indication of economic profitability.

Directory of Open Access Journals (Sweden)

Kimberly M Fornace

Full Text Available Small-scale commercial poultry production is emerging as an important form of livestock production in Africa, providing sources of income and animal protein to many poor households, yet the occurrence and impact of coccidiosis on this relatively new production system remains unknown. The primary objective of this study was to examine Eimeria parasite occurrence on small-scale commercial poultry farms in Ghana, Tanzania and Zambia. Additionally, farm economic viability was measured by calculating the farm gross margin and enterprise budget. Using these economic measures as global assessments of farm productivity, encompassing the diversity present in regional husbandry systems with a measure of fundamental local relevance, we investigated the detection of specific Eimeria species as indicators of farm profitability. Faecal samples and data on production parameters were collected from small-scale (less than 2,000 birds per batch intensive broiler and layer farms in peri-urban Ghana, Tanzania and Zambia. All seven Eimeria species recognised to infect the chicken were detected in each country. Furthermore, two of the three genetic variants (operational taxonomic units identified previously in Australia have been described outside of Australia for the first time. Detection of the most pathogenic Eimeria species associated with decreased farm profitability and may be considered as an indicator of likely farm performance. While a causal link remains to be demonstrated, the presence of highly pathogenic enteric parasites may pose a threat to profitable, sustainable small-scale poultry enterprises in Africa.

Occurrence of Eimeria Species Parasites on Small-Scale Commercial Chicken Farms in Africa and Indication of Economic Profitability

Science.gov (United States)

Fornace, Kimberly M.; Clark, Emily L.; Macdonald, Sarah E.; Namangala, Boniface; Karimuribo, Esron; Awuni, Joseph A.; Thieme, Olaf; Blake, Damer P.; Rushton, Jonathan

2013-01-01

Small-scale commercial poultry production is emerging as an important form of livestock production in Africa, providing sources of income and animal protein to many poor households, yet the occurrence and impact of coccidiosis on this relatively new production system remains unknown. The primary objective of this study was to examine Eimeria parasite occurrence on small-scale commercial poultry farms in Ghana, Tanzania and Zambia. Additionally, farm economic viability was measured by calculating the farm gross margin and enterprise budget. Using these economic measures as global assessments of farm productivity, encompassing the diversity present in regional husbandry systems with a measure of fundamental local relevance, we investigated the detection of specific Eimeria species as indicators of farm profitability. Faecal samples and data on production parameters were collected from small-scale (less than 2,000 birds per batch) intensive broiler and layer farms in peri-urban Ghana, Tanzania and Zambia. All seven Eimeria species recognised to infect the chicken were detected in each country. Furthermore, two of the three genetic variants (operational taxonomic units) identified previously in Australia have been described outside of Australia for the first time. Detection of the most pathogenic Eimeria species associated with decreased farm profitability and may be considered as an indicator of likely farm performance. While a causal link remains to be demonstrated, the presence of highly pathogenic enteric parasites may pose a threat to profitable, sustainable small-scale poultry enterprises in Africa. PMID:24391923

Occurrence of Eimeria species parasites on small-scale commercial chicken farms in Africa and indication of economic profitability.

Science.gov (United States)

Fornace, Kimberly M; Clark, Emily L; Macdonald, Sarah E; Namangala, Boniface; Karimuribo, Esron; Awuni, Joseph A; Thieme, Olaf; Blake, Damer P; Rushton, Jonathan

2013-01-01

Small-scale commercial poultry production is emerging as an important form of livestock production in Africa, providing sources of income and animal protein to many poor households, yet the occurrence and impact of coccidiosis on this relatively new production system remains unknown. The primary objective of this study was to examine Eimeria parasite occurrence on small-scale commercial poultry farms in Ghana, Tanzania and Zambia. Additionally, farm economic viability was measured by calculating the farm gross margin and enterprise budget. Using these economic measures as global assessments of farm productivity, encompassing the diversity present in regional husbandry systems with a measure of fundamental local relevance, we investigated the detection of specific Eimeria species as indicators of farm profitability. Faecal samples and data on production parameters were collected from small-scale (less than 2,000 birds per batch) intensive broiler and layer farms in peri-urban Ghana, Tanzania and Zambia. All seven Eimeria species recognised to infect the chicken were detected in each country. Furthermore, two of the three genetic variants (operational taxonomic units) identified previously in Australia have been described outside of Australia for the first time. Detection of the most pathogenic Eimeria species associated with decreased farm profitability and may be considered as an indicator of likely farm performance. While a causal link remains to be demonstrated, the presence of highly pathogenic enteric parasites may pose a threat to profitable, sustainable small-scale poultry enterprises in Africa.

Marketing strategies and profitability analysis of restaurants in ...

African Journals Online (AJOL)

Marketing strategies and profitability analysis of restaurants in Sokoto metropolis, Nigeria. ... Abstract. The study examined the marketing strategies and profitability of restaurants in Sokoto metropolis. ... EMAIL FULL TEXT EMAIL FULL TEXT

Price Discrimination, Economies of Scale, and Profits.

Science.gov (United States)

Park, Donghyun

2000-01-01

Demonstrates that it is possible for economies of scale to induce a price-discriminating monopolist to sell in an unprofitable market where the average cost always exceeds the price. States that higher profits in the profitable market caused by economies of scale may exceed losses incurred in the unprofitable market. (CMK)

The Financial Performance (Profitability and Corporate Governance Disclosure in the Annual Reports of Listed Companies of Bangladesh

Directory of Open Access Journals (Sweden)

Abdur Rouf

2011-12-01

Full Text Available This research aims to test empirically the relationship between the Financial Performances (Profitability and the level of Corporate Governance Disclosure (CGD by the listed non-financial companies in Bangladesh. Data are taken from annual reports of the listed companies in the 2007. This paper is based on a sample of 94 listed companies and Used OLS as a method of estimation. The extent of corporate governance disclosure level is measured using 40 items of information and financial performance (profitability is measured by return on assets (ROA. Using an unweighted approach for measuring corporate governance disclosure, this approach is most appropriate when no importance is given to any specific user-groups. After establishing the disclosure index, a scoring sheet was developed to assess the extent of corporate governance disclosures. The result shows that the Financial Performances (Profitability and Board Audit Committee are positively correlated with the level of Corporate Governance Disclosure (CGD. Percentage of Equity Owned by the Insiders is negatively associated with the Corporate Governance Disclosure. The study provides empirical evidence to policy makers and regulators in South Asia.

The Importance of Target Market Selection for More Profitable Olive Oil Exports by Turkey: A Case Study

Directory of Open Access Journals (Sweden)

Mustafa METE

2015-12-01

Full Text Available In this study, the quotas and taxes implemented by EU to Turkey were examined and it was observed that these policies have negative effects on Turkey’s olive oil exports. Due to the restrictive policies and low profitability in the entry to the EU market, it was determined that Turkey should be directed to the markets that have higher profitability compared with the exports to EU countries. These detections were carried out in accordance with the information obtained from International Trade Center (ITC and Market Access Database (MAD. As a result of the detections it has been found that exports to the EU countries are more profitable and the entry to the market is easier than to the US. As a result of the researches in ITC and MAD databases, actual companies in oil imports in the US market have been determined and it has shown by examining a bill of loading sample that the firms that make olive oils exports in Turkey easily enter new target markets if they know the usage of the databases

Break-even analysis revisited: the need to adjust for profitability, the collection rate and autonomous income.

Science.gov (United States)

Broyles, R W; Narine, L; Khaliq, A

2003-08-01

This paper modifies traditional break-even analysis and develops a model that reflects the influence of variation in payer mix, the collection rate, profitability and autonomous income on the desired volume alternative. The augmented model indicates that a failure to adjust for uncollectibles and the net surplus results in a systematic understatement of the desired volume alternative. Conversely, a failure to adjust for autonomous income derived from the operation of cafeterias, gift shops or an organization's investment in marketable securities produces an overstatement of the desired volume. In addition, this paper uses Microsoft Excel to develop a spreadsheet that constructs a pro forma income statement, expressed in terms of the contribution margin. The spreadsheet also relies on the percentage of sales or revenue approach to prepare a balance sheet from which indicators of fiscal performance are calculated. Hence, the analysis enables the organization to perform a sensitivity analysis of potential changes in the desired volume, the operating margin, the current ratio, the debt: equity ratio and the amount of cash derived from operations that are associated with expected variation in payer mix, the collection rate, grouped by payer, the net surplus and autonomous income.

Sorghum - An alternative energy crop for marginal lands and reclamation sites

Science.gov (United States)

Lukas, Stefan; Theiß, Markus; Jäkel, Kerstin

2017-04-01

The production of biogas and the associated cultivation of energy crops are still of great importance. Considering increasing restrictions for the cultivation of standard biogas crop maize regarding an environmentally friendly production of biomass, a wider range of energy crops is needed. The cultivation of sorghum can contribute to this. As maize, sorghum is a C4-plant and offers a high biomass yield potential. Originated in the semi-arid tropics, sorghum is well adapted to warm and dry climate and particularly noted for its drought tolerance compared to maize. It also makes few demands on soil quality and shows a good capability of nutrient acquisition. Therefore, particularly on marginal areas and reclamation sites with low soil nutrient and water content sorghum can contribute to secure crop yield and income of farmers. The applied research project aims at and reflects on the establishment of sorghum as a profitable and ecological friendly cropping alternative to maize, especially in the face of probable climate change with increasing risks for agriculture. For this purpose, site differentiated growing and cultivar trials with a standardized planting design as well as several practical on-farm field experiments were conducted. The agronomical and economic results will lead to scientifically based procedures and standards for agricultural practice with respect to cultivation methods (drilling, pest-management, fertilization), cropping sequence and technique, cropping period or position in crop rotation. Even by now there is a promising feedback from the agricultural practice linked with an increasing demand for information. Moreover, the specific cropping area is increasing continuously. Therefore, the leading signs for the establishment of sorghum as profitable alternative to maize biogas production are positive. Sorghum cultures perform best as main crops in the warm D locations in the middle and East German dry areas. Here, the contribution margin

Distribution of Costs and Profits in Urban Development

DEFF Research Database (Denmark)

Christensen, Finn Kjær; Sørensen, Michael Tophøj

2009-01-01

Most countries have a system - procedures and tools - for foreseeable, clear and fair distribution of costs and profits in urban development. However, the distribution of profits and costs between the municipality and the developers /landowners is in Denmark rather fragmented and not very...... transparent as the distribution is regulated throughout the whole planning and environmental regulation system. Furthermore, development agreements – an “old” tool in many countries and an efficient tool to distribute profits and costs between the public and private sector – have only recently become possible...... in Denmark, and only under some special circumstances. This paper aims to clarify how costs and profits are distributed between the municipality and the developers /landowners in Denmark. The paper analyses how the Danish planning and environmental regulation system handles this issue. Based on the analysis...

A More Detailed Understanding Of Factors Associated With Hospital Profitability.

Science.gov (United States)

Bai, Ge; Anderson, Gerard F

2016-05-01

To identify the characteristics of the most profitable US hospitals, we examined the profitability of acute care hospitals in fiscal year 2013, measured as net income from patient care services per adjusted discharge. Based on Medicare Cost Reports and Final Rule Data, the median hospital lost $82 for each such discharge. Forty-five percent of hospitals were profitable, with 2.5 percent earning more than $2,475 per adjusted discharge. The ten most profitable hospitals, seven of which were nonprofit, each earned more than $163 million in total profits from patient care services. Hospitals with for-profit status, higher markups, system affiliation, or regional power, as well as those located in states with price regulation, tended to be more profitable than other hospitals. Hospitals that treated a higher proportion of Medicare patients, had higher expenditures per adjusted discharge, were located in counties with a high proportion of uninsured patients, or were located in states with a dominant insurer or greater health maintenance organization (HMO) penetration had lower profitability than hospitals that did not have these characteristics. These findings can inform policy reforms, while providing a baseline against which to measure the impact of any subsequent reforms. Project HOPE—The People-to-People Health Foundation, Inc.

Profitability analysis of plantain marketing in Kaduna metropolis ...

African Journals Online (AJOL)

Profitability analysis of plantain marketing in Kaduna metropolis, Kaduna state Nigeria. ... The study was carried out to analyze the profitability of plantain marketing and to examine the ... EMAIL FREE FULL TEXT EMAIL FREE FULL TEXT

Prospective Analysis of Surgical Bone Margins After Partial Foot Amputation in Diabetic Patients Admitted With Moderate to Severe Foot Infections.

Science.gov (United States)

Schmidt, Brian M; McHugh, Jonathan B; Patel, Rajiv M; Wrobel, James S

2018-04-01

Osteomyelitis is common in diabetic foot infections and medical management can lead to poor outcomes. Surgical management involves sending histopathologic and microbiologic specimens which guides future intervention. We examined the effect of obtainment of surgical margins in patients undergoing forefoot amputations to identify patient characteristics associated with outcomes. Secondary aims included evaluating interobserver reliability of histopathologic data at both the distal-to and proximal-to surgical bone margin. Data were prospectively collected on 72 individuals and was pooled for analysis. Standardized method to retrieve intraoperative bone margins was established. A univariate analysis was performed. Negative outcomes, including major lower extremity amputation, wound dehiscence, reulceration, reamputation, or death were recorded. Viable proximal margins were obtained in 63 out of 72 cases (87.5%). Strong interobserver reliability of histopathology was recorded. Univariate analysis demonstrated preoperative platelets, albumin, probe-to-bone testing, absolute toe pressures, smaller wound surface area were associated with obtaining viable margins. Residual osteomyelitis resulted in readmission 2.6 times more often and more postoperative complications. Certain patients were significantly different in the viable margin group versus dirty margin group. High interobserver reliability was demonstrated. Obtainment of viable margins resulted in reduced rates of readmission and negative outcomes. Prognostic, Level I: Prospective.

Matthew and marginality

Directory of Open Access Journals (Sweden)

Denis C. Duling

1995-12-01

Full Text Available This article explores marginality theory as it was first proposed in  the social sciences, that is related to persons caught between two competing cultures (Park; Stonequist, and, then, as it was developed in sociology as related to the poor (Germani and in anthropology as it was related to involuntary marginality and voluntary marginality (Victor Turner. It then examines a (normative scheme' in antiquity that creates involuntary marginality at the macrosocial level, namely, Lenski's social stratification model in an agrarian society, and indicates how Matthean language might fit with a sample inventory  of socioreligious roles. Next, it examines some (normative schemes' in  antiquity for voluntary margi-nality at the microsocial level, namely, groups, and examines how the Matthean gospel would fit based on indications of factions and leaders. The article ,shows that the author of the Gospel of Matthew has an ideology of (voluntary marginality', but his gospel includes some hope for (involuntary  marginals' in  the  real world, though it is somewhat tempered. It also suggests that the writer of the Gospel is a (marginal man', especially in the sense defined by the early theorists (Park; Stone-quist.

Identifying Competences and Their Sources in a Not-for-Profit Organization

DEFF Research Database (Denmark)

Vega, Diego; Sanchez, Ron

2017-01-01

Effective competence-based management (CBM) requires in the first instance an ability to identify an organization’s competences and the sources of those competences. Identifying competences can be especially challenging in the context of not-for-profit organizations, which have often been...... characterized as being “different” from for-profit organizations. In this paper we argue that not-for-profit organizations have fundamentally the same systemic requirements for survival and success as for-profit organizations – and therefore that not-for-profits ought to be amenable to competence identification...... and analysis through use of CBM concepts and theory in essentially the same way as for-profit organizations. We support this basic proposition through a case study of competence identification and analysis in a humanitarian relief organization (HRO), an increasingly important kind of not-for-profit...

Corporate Social Responsibility and Profit Maximizing Behaviour

OpenAIRE

Becchetti, Leonardo; Giallonardo, Luisa; Tessitore, Maria Elisabetta

2005-01-01

We examine the behavior of a profit maximizing monopolist in a horizontal differentiation model in which consumers differ in their degree of social responsibility (SR) and consumers SR is dynamically influenced by habit persistence. The model outlines parametric conditions under which (consumer driven) corporate social responsibility is an optimal choice compatible with profit maximizing behavior.

Temporal variation in population size of European bird species: effects of latitude and marginality of distribution.

Directory of Open Access Journals (Sweden)

José J Cuervo

Full Text Available In the Northern Hemisphere, global warming has been shown to affect animal populations in different ways, with southern populations in general suffering more from increased temperatures than northern populations of the same species. However, southern populations are also often marginal populations relative to the entire breeding range, and marginality may also have negative effects on populations. To disentangle the effects of latitude (possibly due to global warming and marginality on temporal variation in population size, we investigated European breeding bird species across a latitudinal gradient. Population size estimates were regressed on years, and from these regressions we obtained the slope (a proxy for population trend and the standard error of the estimate (SEE (a proxy for population fluctuations. The possible relationships between marginality or latitude on one hand and slopes or SEE on the other were tested among populations within species. Potentially confounding factors such as census method, sampling effort, density-dependence, habitat fragmentation and number of sampling years were controlled statistically. Population latitude was positively related to regression slopes independent of marginality, with more positive slopes (i.e., trends in northern than in southern populations. The degree of marginality was positively related to SEE independent of latitude, with marginal populations showing larger SEE (i.e., fluctuations than central ones. Regression slopes were also significantly related to our estimate of density-dependence and SEE was significantly affected by the census method. These results are consistent with a scenario in which southern and northern populations of European bird species are negatively affected by marginality, with southern populations benefitting less from global warming than northern populations, thus potentially making southern populations more vulnerable to extinction.

Application of relationship marketing in non-profit organisations ...

African Journals Online (AJOL)

Application of relationship marketing in non-profit organisations involved in the provision of sport and recreational services. ... A variety of factors have over time contributed to a need for marketing in non-profit ... AJOL African Journals Online.

Profit and loss account in the international context

Directory of Open Access Journals (Sweden)

PALIU - POPA LUCIA

2011-06-01

Full Text Available Given that the objective of financial statements is to provide information about the financial position, financial performance and cash flows of an economic unit, useful for a wide range of users in making economic decisions, particular attention should be paid to the profit and loss account, which is the main instrument for reflecting the financial performance, because on the one hand it provides the information necessary for their evaluation, and on the other hand the information essential for determining the risk of cash flows. Even if each component of the financial statements provides different pieces of information, they should be correlated because they reflect different aspects of the same transactions or events, and in this article we will address the general aspects of profit and loss account from the perspective of profit and loss account models. In this regard, after a brief theoretical approach of the profit and loss account, we will indicate the advantages of two models of profit and loss account but without forgetting their limitations. Thus, we will provide the income statement structure on two stages of normalization: internationally and nationally.

Valuing goodwill: not-for-profits prepare for annual impairment testing.

Science.gov (United States)

Heuer, Christian; Travers, Mary Ann K

2011-02-01

Accounting standards for valuing goodwill and intangible assets are becoming more rigorous for not-for-profit organizations: Not-for-profit healthcare organizations need to test for goodwill impairment at least annually. Impairment testing is a two-stage process: initial analysis to determine whether impairment exists and subsequent calculation of the magnitude of impairment. Certain "triggering" events compel all organizations--whether for-profit or not-for-profit--to perform an impairment test for goodwill or intangible assets.

The Significance of Loyalty on Consumer Credit Profitability

Directory of Open Access Journals (Sweden)

Aditya Galih Prihartono

2012-04-01

Full Text Available The purpose of this research is to analyze and test the effect of customer loyalty on consumer credit profitability. Loyalty Index Score was developed to determine the level of customers’ loyalty level through 4 main variables; Longevity, Depth, Breadth and Referrals. The effect of Loyalty Index Score on profitability was further tested by path analysis to find out the significance direct relationship between loyalty and profitablity and the indirect relationship between the two variable through bucket. The result showed that loyalty has a significant effect on profitability either directly or indirectly. It was concluded that direct loyalty effect on profitability is lower than that of the indirect effect through bucket. The conclusion could be made by analyzing the available data from personal loan customers in one of the biggest multinational bank in indonesia during October 2010 until March 2011.

The Persistence of Profits in Azerbaijan's Banking System

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K. Batu TUNAY

2015-06-01

Full Text Available In this research, the persistence of profits in Azerbaijan's banking sector in the short-run and the long-run is investigated. Although there are a lot of researches done in the case of different countries, enough study has been implemented for the case of Azerbaijan despite of its high speed economic growth. This research analysis continuity of profits by using system panel data method. Obtained results indicate that profits demonstrate no persistence or a little persistence. In this context, existence of competitive powers in the sector can be stated.

Combining Purpose With Profits

DEFF Research Database (Denmark)

Julian Birkinshaw, Julian; Foss, Nicolai Juul; Lindenberg, Siegwart

2014-01-01

A sense of purpose that transcends making money can motivate employees. But to sustain both a sense of purpose and a solid level of profitability over time, companies need to pay attention to several fundamental organizing principles....

10 CFR 603.615 - Financial management standards for-profit firms.

Science.gov (United States)

2010-01-01

... 10 Energy 4 2010-01-01 2010-01-01 false Financial management standards for-profit firms. 603.615... § 603.615 Financial management standards for-profit firms. (a) To avoid causing needless changes in participants' financial management systems, an expenditure-based TIA will make for-profit participants that...

The Determinants of Bank Profitability: The Case of Tunisia

Directory of Open Access Journals (Sweden)

Olfa Nessibi

2016-01-01

Full Text Available Using bank level data this paper examines how bank’s specific characteristics and macroeconomic indicators affect the profitability in the Tunisian banking industry over the period 1990–2008. The results indicate that the more profitable banks are those higher amount of capital and lower operating costs. Furthermore, it appears that private banks tend to perform better than state owned ones.  Despite the great importance given to the board of directors, it doesn't have a dominant role in the Tunisian commercial banks. Finally, turning to macroeconomic conditions and its impact on banks’ profitability, we find that the real interest rate has a positive effect on bank profitability.

Where Did They Go? Market Share Trends of Business Student Enrollment at Public, Not-for-Profit, and For-Profit Institutions from 1996 to 2008

Science.gov (United States)

Fox Garrity, Bonnie Kathleen

2012-01-01

The author presents the trends in market share of business student enrollment at public, not-for-profit, and for-profit 4-year-and-above institutions from 1996 to 2008. Although each sector of the institutions has experienced growth in overall enrollments, the relative market share of public and not-for-profit institutions has dropped, whereas the…

The Effect of Capital Working Management on the Profitability

Directory of Open Access Journals (Sweden)

Slamet Mulyono

2018-02-01

Full Text Available Companies must maintain the sustainability business. In order to keep their existence and competitiveness, companies must increase profitability in every year. It also applies to state fertilizer companies. However, 10 years of history (2005-2014, the state fertilizer company have been facing difficulties in maintaining business sustainability. Profitability fluctuates and tends to decrease every year. One of the causes is inefficient working capital management. The objective of this study is to determine the relationship between working capital management and corporate profitability. To ensure the absence of the influence of unexamined factors, this study uses control variables of firm size, financial leverage, and gross domestic product. This research uses a positivist paradigm with a quantitative approach and multiple regression analysis.The results of this study indicate that state fertilizer companies will be able to increase ROA by accelerating Days of Sales in Inventory and Days of Payables. Higher assets, reduce profitability, and increasing debt withdrawal, which further declines the profitability. State fertilizer companies should accelerate inventory turnover and obligation payments to suppliers to minimize the risk of foreign exchange loss, considering that 80% of raw materials are still imported. In addition, state fertilizer should maintain asset quality and minimize debt withdrawal to increase profitability. 

A Mathematical Model and Programme Support for Determination of the Values of the Marginal Reserve Requirement as Instrument of Monetary Policy

Directory of Open Access Journals (Sweden)

Kristina Šorić

2007-09-01

Full Text Available This paper studies the problem of interdependence between central bank and commercial bank goals. The basic central bank task is to achieve and to maintain price stability. Croatian external debt has been increasing for years and so the activities of the Croatian National Bank are designed to correct this situation. In order to stop the further increase of the external debt, the Croatian National Bank uses several monetary policy instruments, among which is the marginal reserve requirement. On the other hand, the goal of commercial banks is to maximise profits. Banks take loans from abroad at a lower interest rate and invest this money in Croatia at a higher interest rate, thus fulfilling their goal. In order to obtain the desired effects of the marginal reserve requirement, its optimal percentage value should be determined. This problem is modelled as a bi-level mixed 0-1 programming problem. The objective of the leader (Croatian National Bank is to minimize the increase in household loans by setting different percentages of the reserve requirements for loans extended to households and for those granted to enterprises. The objective of the followers (banks is to maximize profits. In order to solve this NP-hard problem a heuristic is proposed. In order to verify the model, the paper ends with simulations and the presentation of computational results.

26 CFR 509.105 - Industrial and commercial profits.

Science.gov (United States)

2010-04-01

... sales promotion, the orders being transmitted to Switzerland for acceptance, then the profits arising... 26 Internal Revenue 19 2010-04-01 2010-04-01 false Industrial and commercial profits. 509.105 Section 509.105 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED...

Profit efficiency among catfish farmers in Benue state, Nigeria | Tsue ...

African Journals Online (AJOL)

The study examined profit efficiency among catfish farmers in Benue State of Nigeria using a stochastic profit frontier approach. A multi-stage sampling technique was used to collect data from 143 catfish farmers through a well structured questionnaire. The study used a Cobb-Douglas stochastic profit frontier function to ...

In California, not-for-profit hospitals spent more operating expenses on charity care than for-profit hospitals spent.

Science.gov (United States)

Valdovinos, Erica; Le, Sidney; Hsia, Renee Y

2015-08-01

In exchange for sizable tax exemptions, not-for-profit hospitals must engage in activities that meet the Internal Revenue Service's community benefit standard. The provision of charity care-free care to those unable to pay-can help meet that standard. Bad debt, the other form of uncompensated care, cannot be used to meet the standard, although Medicaid shortfalls can. However, the ACA lacks guidelines for providing charity care, and federal law sets no minimum requirements for community benefit activities. Using data from California, we examined whether the levels of charity and uncompensated care provided differed across general acute care hospitals by profit status and other characteristics during 2011-13. The mean proportion of total operating expenses spent on charity care differed significantly between not-for-profit (1.9 percent) and for-profit hospitals (1.4 percent), in contrast to the mean proportion spent on uncompensated care. Both types of spending varied widely across hospitals. Policy makers should consider measures that remove disincentives to meeting the persistent considerable need for charity care-for example, increasing supports to offset rising Medicaid shortfalls resulting from program expansion-and facilitate the tracking of ACA impacts on the distribution of charity care and uncompensated care delivery. Project HOPE—The People-to-People Health Foundation, Inc.

A Kitchen with too Many Cooks: Factors Associated with Hospital Profitability

Directory of Open Access Journals (Sweden)

Na-Eun Cho

2018-01-01

Full Text Available In this paper, we carefully investigate previous literature to extract 10 relevant factors to explain the hospital profitability and build an econometrically well-specified model of explaining hospital profitability that does not suffer from omitted variable bias. Then we provide empirical evidence to a common belief that the objective function of a hospital varies with the type of hospital. We identified distinct objective functions for three types of hospitals: for-profit hospitals are driven by the overarching agreed-upon goal of profit maximization for shareholders; government hospitals, which are often the insurers of last resort, are obliged to put the public interest over profit objectives; nonprofit hospitals, which are legally prohibited from distributing profits, occupy the middle ground between for-profit and government hospitals. The results of this paper suggest that the ownership type should determine the factors on which hospitals focus and hence are useful to hospital management and academic researchers.

The Profitability – Risk Relationship and Financing Decision

Directory of Open Access Journals (Sweden)

Nicoleta BARBUTA-MISU

2007-01-01

Full Text Available The enterprise financial decision is a rational process for option to the optimal variant related to financing and investments. For the capital investment to be justified, the profitability of the invested money must be at least equal with the profitability of the alternative investment opportunities with the same risk on market. The choosing of a way for financing is determined on the one side by their cost and on the other side by the existent capital structure. In this paper I tried to analyse the profitability – risk relationship in the financing decision for the “NIKOS” Ltd.

Normal flora of conjunctiva and lid margin, as well as its antibiotic sensitivity, in patients undergoing cataract surgery at Phramongkutklao Hospital.

Science.gov (United States)

Ratnumnoi, Ravee; Keorochana, Narumon; Sontisombat, Chavalit

2017-01-01

This study aimed to evaluate the normal flora of conjunctiva and lid margin, as well as its antibiotic sensitivity. This was a prospective cross-sectional study. A prospective study was conducted on 120 patients who underwent cataract surgery at the Phramongkutklao Hospital from September 2014 to October 2014. Conjunctival and lid margin swabs were obtained from patients before they underwent cataract surgery. These swabs were used to inoculate blood agar and chocolate agar plates for culturing. After growth of the normal flora, the antibiotic sensitivity method using tobramycin, moxifloxacin, levofloxacin, and cefazolin was applied. Normal flora of conjunctiva and lid margin, along with its antibiotic sensitivity, from patients who underwent cataract surgery was assessed. A total of 120 eyes were included in this study, and bacterial isolation rates were identified. Five bacteria from the lid margin were cultured, namely, coagulase-negative staphylococcus (58.33%), Streptococcus spp. (2.5%), Corynebacterium (1.67%), Micrococcus spp. (1.67%), and Staphylococcus aureus (0.83%). Two bacteria from the conjunctiva were cultured, namely, coagulase-negative staphylococcus (30%) and Streptococcus spp. (0.83%). Results of antibiotic sensitivity test showed that all isolated bacteria are sensitive to cefazolin 100%, tobramycin 98.67%, levofloxacin 100%, and moxifloxacin 100%. Coagulase-negative staphylococci are the most common bacteria isolated from conjunctiva and lid margin.

Audits contribute to pride, productivity and profit

International Nuclear Information System (INIS)

White, Q.

1984-01-01

The object of this writing is to demonstrate that audits (in general) when used as a ''management tool' can contribute to pride, productivity, and profit. The goal of ''pride'' achievement is demonstrated through the use of techniques developed from behavioral sciences. Discussed is dealing with people and their basic needs. This is intended to point out the fact that satisfying individual needs and concerns is the first step to achieving the goals of pride, productivity, and profit. Also discussed are the basic needs of safety (security), social, ego/esteem, and self-fulfillment as well as providing some basic techniques of auditing which will help assure general satisfaction of these needs. Also noted are reporting methods. The goal of ''productivity'' is approached by demonstrating that objectives must be clear and workable. Objectives must be translated into specific action and that action must be compatible with the overall company objectives. All objectives must be known and understood by those affected. Consideration must be given to men, money, and machines (present technology). All of the objectives must also be weighed against external constraints. The goal of ''profit'' then becomes the product of a combination of ''pride'' and ''productivity''. Audits must be cost conscious. Value engineer the problem, the cause, and the solution. Discussion continues with quality cost programs briefly indicating that ''Q'' costs could be considered a type of audit. Identifying deficiencies and weaknesses, then correcting them, contributes to profit. Increased pride and productivity contributes to profit. Consider the employee's awareness and commitment for doing a good job when auditing

DISPAQ: Distributed Profitable-Area Query from Big Taxi Trip Data †

Science.gov (United States)

Putri, Fadhilah Kurnia; Song, Giltae; Rao, Praveen

2017-01-01

One of the crucial problems for taxi drivers is to efficiently locate passengers in order to increase profits. The rapid advancement and ubiquitous penetration of Internet of Things (IoT) technology into transportation industries enables us to provide taxi drivers with locations that have more potential passengers (more profitable areas) by analyzing and querying taxi trip data. In this paper, we propose a query processing system, called Distributed Profitable-Area Query (DISPAQ) which efficiently identifies profitable areas by exploiting the Apache Software Foundation’s Spark framework and a MongoDB database. DISPAQ first maintains a profitable-area query index (PQ-index) by extracting area summaries and route summaries from raw taxi trip data. It then identifies candidate profitable areas by searching the PQ-index during query processing. Then, it exploits a Z-Skyline algorithm, which is an extension of skyline processing with a Z-order space filling curve, to quickly refine the candidate profitable areas. To improve the performance of distributed query processing, we also propose local Z-Skyline optimization, which reduces the number of dominant tests by distributing killer profitable areas to each cluster node. Through extensive evaluation with real datasets, we demonstrate that our DISPAQ system provides a scalable and efficient solution for processing profitable-area queries from huge amounts of big taxi trip data. PMID:28946679

Impact of subclinical mastitis on greenhouse gas emissions intensity and profitability of dairy cows in Norway.

Science.gov (United States)

Özkan Gülzari, Şeyda; Vosough Ahmadi, Bouda; Stott, Alistair W

2018-02-01

Impaired animal health causes both productivity and profitability losses on dairy farms, resulting in inefficient use of inputs and increase in greenhouse gas (GHG) emissions produced per unit of product (i.e. emissions intensity). Here, we used subclinical mastitis as an exemplar to benchmark alternative scenarios against an economic optimum and adjusted herd structure to estimate the GHG emissions intensity associated with varying levels of disease. Five levels of somatic cell count (SCC) classes were considered namely 50,000 (i.e. SCC50), 200,000, 400,000, 600,000 and 800,000cells/mL (milliliter) of milk. The effects of varying levels of SCC on milk yield reduction and consequential milk price penalties were used in a dynamic programming (DP) model that maximizes the profit per cow, represented as expected net present value, by choosing optimal animal replacement rates. The GHG emissions intensities associated with different levels of SCC were then computed using a farm-scale model (HolosNor). The total culling rates of both primiparous (PP) and multiparous (MP) cows for the five levels of SCC scenarios estimated by the model varied from a minimum of 30.9% to a maximum of 43.7%. The expected profit was the highest for cows with SCC200 due to declining margin over feed, which influenced the DP model to cull and replace more animals and generate higher profit under this scenario compared to SCC50. The GHG emission intensities for the PP and MP cows with SCC50 were 1.01kg (kilogram) and 0.95kg carbon dioxide equivalents (CO 2 e) per kg fat and protein corrected milk (FPCM), respectively, with the lowest emissions being achieved in SCC50. Our results show that there is a potential to reduce the farm GHG emissions intensity by 3.7% if the milk production was improved through reducing the level of SCC to 50,000cells/mL in relation to SCC level 800,000cells/mL. It was concluded that preventing and/or controlling subclinical mastitis consequently reduces the GHG

Converting MEMS technology into profits

Science.gov (United States)

Bryzek, Janusz

1998-08-01

This paper discusses issues related to transitioning a company from the advanced technology development phase (with a particular focus on MEMS) to a profitable business, with emphasis on start-up companies. It includes several case studies from (primarily) NovaSensor MEMS development history. These case studies illustrate strategic problems with which advanced MEMS technology developers have to be concerned. Conclusions from these case studies could be used as checkpoints for future MEMS developers to increase probability of profitable operations. The objective for this paper is to share the author's experience from multiple MEMS start-ups to accelerate development of the MEMS market by focusing state- of-the-art technologists on marketing issues.

The Impact of Internal Factors on Bank Profitability in Kosovo

Directory of Open Access Journals (Sweden)

Leonora Haliti Rudhani

2016-02-01

Full Text Available Commercial banks play an important role in the economic development and financial stability; therefore this study investigated the influence of internal factors in the profitability of commercial banks in Kosovo. Based on the literature review, a crucial internal factor on the profitability of banks in Kosovo was deemed: the repayment of assets (ROA as a measure of profitability influenced by other independent variables, such as: bank size, capital adequacy, loan and liquidity risk. The aim of this study is to investigate the empirical relation between internal factors determining bank profitability and profitability as a dependent variable. The empirical analysis is based on the data of commercial banks in Kosovo published in the period 2010-2014. The data were analysed with SPSS 21 version, and the hypotheses were tested by means of correlation and linear regression. The findings of the study proved that commercial banks in Kosovo could enlarge their profitability by increasing the level of bank loaning and other investments, except for managing risk and liquidity properly.

Statistical methods for analysing the relationship between bank profitability and liquidity

OpenAIRE

Boguslaw Guzik

2006-01-01

The article analyses the most popular methods for the empirical estimation of the relationship between bank profitability and liquidity. Owing to the fact that profitability depends on various factors (both economic and non-economic), a simple correlation coefficient, two-dimensional (profitability/liquidity) graphs or models where profitability depends only on liquidity variable do not provide good and reliable results. Quite good results can be obtained only when multifactorial profitabilit...

Generic phase transitions and profit singularities in Arnol'd's model

International Nuclear Information System (INIS)

Davydov, Aleksei A; Matos, Helena Mena

2007-01-01

For a smooth one-parameter family of pairs of control systems and profit densities on a circle, the generic transitions between optimal rotations and stationary strategies are studied in the problem of maximization of the time-averaged profit on the infinite horizon. It is shown that there are only two types of such transitions, the corresponding singularities of the average profit as a function of the family parameter are found, and it is proved that these singularities are stable under small perturbations of a generic family. The classification of singularities of the maximum average profit is completed for generic families. Bibliography: 16 titles.

Risk Pricing and Profit Maximization of Insurance Companies ...

African Journals Online (AJOL)

The research investigates the impact of pricing of risk on the profitability of Nigeria insurance market and also the relationship between operation expenses and profitability of the non-life insurance market in Nigeria. Results show that economy, competition and government regulation have effect on pricing of risk. Also, it was ...

Screen Wars, Star Wars, and Sequels: Nonparametric Reanalysis of Movie Profitability

OpenAIRE

W. D. Walls

2012-01-01

In this paper we use nonparametric statistical tools to quantify motion-picture profit. We quantify the unconditional distribution of profit, the distribution of profit conditional on stars and sequels, and we also model the conditional expectation of movie profits using a non- parametric data-driven regression model. The flexibility of the non-parametric approach accommodates the full range of possible relationships among the variables without prior specification of a functional form, thereb...

Earnings and bank profitability in Nigeria

Directory of Open Access Journals (Sweden)

John N. N. Ugoani

2016-12-01

Full Text Available Bank earnings in form of retained profit help in the capital formation of banks. This is critical because capital inadequacy is often a cause of bank failures. During the banking crisis in Nigeria the gross earnings of many banks diminished considerably due to frauds and bad management. For example, in 2009 the Central Bank of Nigeria revoked the operating licences of fourteen banks which had huge nonperforming loans and were making losses. The fragility in the Nigerian banking system in the 1990s and beyond was compounded due to wide spread poor corporate governance practices and imprudent lending that led to the erosion of gross earnings and profitability. The study employed the exploratory research design. Data analyses were done through description statistics and the regression technique using the statistical package for the social sciences. The regression result was Y = 4.926 + 1.877x meaning that with an increase of 1 percent in gross earnings bank profitability increases by 1.88 percent. This is the crux of the study.

State ownership and efficiency characteristics

Directory of Open Access Journals (Sweden)

Alexander Abramov

2017-06-01

Full Text Available This study examines the influence of state participation in the ownership structure of companies on their financial efficiency using a sample of 114 largest companies in Russia. As an indirect indicator of efficiency, we used a variety of financial indicators: revenue per employee (gross margin, return on equity, profit margin and debt burden. The effects of direct and indirect state ownership are considered separately. Using econometric analysis, we conclude that the dominance of the block of shares owned by the state has a negative effect on the performance characteristics, and its increase is associated with an increase in the debt burden of the companies. According to our criteria, state-owned enterprises (SOEs perform worse on average than private companies. The mechanism of how changes in the “real sector” affect profitability is examined particularly closely. The study shows that a change in the profitability of private companies is characterized by a significant dependence on the movement of labor productivity characteristics. At the same time, for SOEs, a similar correlation was not revealed. These companies demonstrated no visible relationship between their profitability and performance characteristics. The study shows that increases in the size of direct government ownership lead to lower labor productivity and profitability; the impact of indirect ownership is, seemingly, more complicated.

Being 'green' helps profitability?

International Nuclear Information System (INIS)

Austin, D.

1999-01-01

Pollution reduction beyond regulatory compliance is gaining momentum among firms, but managers ask if being 'green' helps profitability. Evidence suggests it doesn't hurt, but when we see environmentally attractive firms with sound financial performance, it cannot yet say which is cause and which is effect [it

Is merging and acquisition profitable?

International Nuclear Information System (INIS)

Skjeret, Frode; Soergard, Lars

2002-01-01

This report deals with mergers and acquisitions in the electricity sector in Norway. The background is the fact that the profitability of these activities proves to be low. In buying, it is typically the selling shareholder who profits from the transaction, while the buying company does not really earn much. This result appears to be a robust result both in different countries, between sectors and independent of methodology. The report provides theoretical justification for merging and buying up and empirical evaluations of the effects of company integration. It is asserted that what can be learned in general from the literature may also occur in the European power sector. Furthermore, the report discusses the challenges faced by the companies if they want to expand through mergers and acquisitions

Not-for-profit versus for-profit health care providers-Part I: comparing and contrasting their records.

Science.gov (United States)

Rotarius, Timothy; Trujillo, Antonio J; Liberman, Aaron; Ramirez, Bernardo

2005-01-01

The debate over which health care providers are most capably meeting their responsibilities in serving the public's interest continues unabated, and the comparisons of not-for-profit (NFP) versus for-profit (FP) hospitals remain at the epicenter of the discussion. From the perspective of available factual information, which of the two sides to this debate is correct? This article is part I of a 2-part series on comparing and contrasting the performance records of NFP health care providers with their FP counterparts. Although it is demonstrated that both NFP and FP providers perform virtuous and selfless feats on behalf of America's public, it is also shown that both camps are involved in potentially willful clinical and administrative missteps. Part I contains the background information (eg, legal differences, perspectives on social responsibility, and types of questionable and fraudulent behavior) that is necessary to adequately understand the scope of the comparison issue. Part II offers actual comparisons of the 2 organizational structures using several disparate factors such as specific organizational behaviors, approach to the health care priorities of cost and quality, and business-focused goals of profits, efficiency, and community benefit.

Not-for-profit versus for-profit health care providers--Part II: Comparing and contrasting their records.

Science.gov (United States)

Rotarius, Timothy; Trujillo, Antonio J; Liberman, Aaron; Ramirez, Bernardo

2006-01-01

The debate over which health care providers are most capably meeting their responsibilities in serving the public's interest continues unabated, and the comparisons of not-for-profit (NFP) versus for-profit (FP) hospitals remain at the epicenter of the discussion. From the perspective of available factual information, which of the two sides to this debate is correct? This article is part II of a 2-part series on comparing and contrasting the performance records of NFP health care providers with their FP counterparts. Although it is demonstrated that both NFP and FP providers perform virtuous and selfless feats on behalf of America's public, it is also shown that both camps have been accused of being involved in potentially willful clinical and administrative missteps. Part I provided the background information (eg, legal differences, perspectives on social responsibility, and types of questionable and fraudulent behavior) required to adequately understand the scope of the comparison issue. Part II offers actual comparisons of the 2 organizational structures using several disparate factors such as specific organizational behaviors, approach to the health care priorities of cost and quality, and business-focused goals of profits, efficiency, and community benefit.

Estimation of future levels and changes in profitability: The effect of the relative position of the firm in its industry and the operating-financing disaggregation

Directory of Open Access Journals (Sweden)

Borja Amor-Tapia

2014-06-01

Full Text Available In this paper we examine how the relative position of a firm’s Return on Equity (ROE in industries affects the predictability of the next-year ROE levels, and the ROE changes from year to year. Using Nissim and Penman breakdown into operating and financing drivers, the significant role of the industry factor is established, although changes in signs suggest subtle non-linear relations in the drivers. Our study avoids problems originating from negative signs by analyzing sorts and by making new regressions with disaggregated second-order drivers by signs. This way, our results provide evidence of some different patterns in the influence of the first-level drivers of ROE (the operating factor and the financing factor, and the second-level drivers (profit margin, asset turnover, leverage and return spread on future profitability, depending on the industry spread. The results on the role of contextual factors to improve the estimation of future profitability remain consistent for small and large firms, although adding some nuances En este trabajo examinamos si la posición relativa del ROE de la empresa en el sector afecta a la estimación del nivel de ROE en el a˜no posterior, y a la estimación de su variación. Empleando el desglose operativo-financiero de Nissim y Penman, encontramos que el factor sectorial es significativo, aunque las variaciones de los signos sugieren la presencia de relaciones no lineales. Nuestro trabajo evita los problemas generados por los signos negativos en los ratios al emplear cuantiles y realizar regresiones independientes para los diferentes signos que toman las variables. De esta forma, los resultados muestran diferentes patrones en el impacto de los inductores del ROE de primer nivel (los factores operativo y financiero y de segundo nivel (margen de resultados, rotaciones de los activos, endeudamiento y diferencial de rentabilidad sobre la rentabilidad futura, dependiendo del diferencial de rentabilidad con

Management of Enterprise Profit: Theory and Methodology

OpenAIRE

Nadezhda Sergeevna Piontkevich

2015-01-01

Effective management of financial activity of commercial organization promotes achievement of the main objective of its activity – receiving profit. Both external and internal factors causing specifics of financial management of organization in the field of management of profit have impact on this process. In modern conditions of economic development this problem gains the greatest relevance, and new approaches for its decision are required. In the present article the author’s theoretical and...

An Analysis of The Islamic and Conventional Banking Profitability in Palestine

Directory of Open Access Journals (Sweden)

Mohmad Tawfiq Abusharbeh

2011-12-01

Full Text Available Abstract: An Analysis of the Islamic and Conventional Banking Profitability in Palestine. The research paper examines the performance of profitability of Islamic banks against conventional banks for the period of 2005 to 2010. Two alternative measurements of banking profitability such as Return on Equity (ROE and Return on Assets (ROA are used to examine whether there is any differences of profit rate between Islamic, local and foreign conventional banks. The study concludes that Islamic banks generally provide the similar profit rate compared to local banks, however Islamic banks provide lower profit rate compared to foreign banks. Finally the findings also suggest that there is no statistical significant difference in mean return between the Islamic banks, local and foreign banks in Palestine. The study recommends the critical needs for Islamic regulation in order to improve the role of Islamic banking industry in Palestine.

The ranking of negative-cost emissions reduction measures

International Nuclear Information System (INIS)

Taylor, Simon

2012-01-01

A flaw has been identified in the calculation of the cost-effectiveness in marginal abatement cost curves (MACCs). The problem affects “negative-cost” emissions reduction measures—those that produce a return on investment. The resulting ranking sometimes favours measures that produce low emissions savings and is therefore unreliable. The issue is important because incorrect ranking means a potential failure to achieve the best-value outcome. A simple mathematical analysis shows that not only is the standard cost-effectiveness calculation inadequate for ranking negative-cost measures, but there is no possible replacement that satisfies reasonable requirements. Furthermore, the concept of negative cost-effectiveness is found to be unsound and its use should be avoided. Among other things, this means that MACCs are unsuitable for ranking negative-cost measures. As a result, MACCs produced by a range of organizations including UK government departments may need to be revised. An alternative partial ranking method has been devised by making use of Pareto optimization. The outcome can be presented as a stacked bar chart that indicates both the preferred ordering and the total emissions saving available for each measure without specifying a cost-effectiveness. - Highlights: ► Marginal abatement cost curves (MACCs) are used to rank emission reduction measures. ► There is a flaw in the standard ranking method for negative-cost measures. ► Negative values of cost-effectiveness (in £/tC or equivalent) are invalid. ► There may be errors in published MACCs. ► A method based on Pareto principles provides an alternative ranking method.

Profitability of Technical Currency Speculation. The Case of Yen-Dollar Trading 1976-2007

OpenAIRE

Schulmeister, Stephan

2008-01-01

The paper investigates the profitability of 1,024 moving average and momentum models and their components in the yen-dollar market. It turns out that all models would have been profitable between 1976 and 2007. The models produce more single losses than single profits. At the same time, the size of the single profits is on average much higher than the size of single losses because profitable positions last two to six times longer than unprofitable positions. Hence, the profitability of techni...

Estimating profit shifting in South Africa using firm-level tax returns

DEFF Research Database (Denmark)

Wier, Ludvig

2016-01-01

Using the universe of South African corporate tax returns for 2009–14, we estimate profit- and debt-shifting responses in South Africa. We find evidence that South African subsidiaries engage in profit shifting and that profit-shifting responses to tax incentives across all channels...

Quality of care in investor-owned vs not-for-profit HMOs.

Science.gov (United States)

Himmelstein, D U; Woolhandler, S; Hellander, I; Wolfe, S M

1999-07-14

The proportion of health maintenance organization (HMO) members enrolled in investor-owned plans has increased sharply, yet little is known about the quality of these plans compared with not-for-profit HMOs. To compare quality-of-care measures for investor-owned and not-for-profit HMOs. Analysis of the Health Plan Employer Data and Information Set (HEDIS) Version 3.0 from the National Committee for Quality Assurance's Quality Compass 1997, which included 1996 quality-of-care data for 329 HMO plans (248 investor-owned and 81 not-for-profit), representing 56% of the total HMO enrollment in the United States. Rates for 14 HEDIS quality-of-care indicators. Compared with not-for-profit HMOs, investor-owned plans had lower rates for all 14 quality-of-care indicators. Among patients discharged from the hospital after myocardial infarction, 59.2% of members in investor-owned HMOs vs 70.6% in not-for-profit plans received a beta-blocker (Pinvestor-owned plans vs 47.9% in not-for-profit plans had annual eye examinations (PInvestor-owned plans had lower rates than not-for-profit plans of immunization (63.9% vs 72.3%; Pinvestor ownership was consistently associated with lower quality after controlling for model type, geographic region, and the method each HMO used to collect data. Investor-owned HMOs deliver lower quality of care than not-for-profit plans.

The decline of uranium profitability in South Africa

Energy Technology Data Exchange (ETDEWEB)

NONE

1989-06-01

Between 1952 and 1988, the South African uranium industry produced 340 million pounds U{sub 3}O{sub 8}-some 14 percent of total world production to date. Peak production was 16.1 million pounds U{sub 3}O{sub 8} in 1980. In 1989, uranium production will have dropped to less than eight million pounds U{sub 3}O{sub 8} per year, and the prospects for further decreases are high. This once-booming business that has been a major contributor to South Africa`s economy is on the brink of collapse. While the policy of apartheid has caused several countries to restrict or embargo further deliveries, the uranium business has also become much less profitable. Profits from the production of uranium concentrates in South Africa exceeded 1.5 billion rand during the period 1981-1988. The trend of this profitability is shown. Inflation and low prices in combination with stabilizing exchange rates are continuing to restrict profitability. NUEXCO examines these factors and their impact on South African uranium production in detail in this article.

Short Run Profit Maximization in a Convex Analysis Framework

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Ilko Vrankic

2017-03-01

Full Text Available In this article we analyse the short run profit maximization problem in a convex analysis framework. The goal is to apply the results of convex analysis due to unique structure of microeconomic phenomena on the known short run profit maximization problem where the results from convex analysis are deductively applied. In the primal optimization model the technology in the short run is represented by the short run production function and the normalized profit function, which expresses profit in the output units, is derived. In this approach the choice variable is the labour quantity. Alternatively, technology is represented by the real variable cost function, where costs are expressed in the labour units, and the normalized profit function is derived, this time expressing profit in the labour units. The choice variable in this approach is the quantity of production. The emphasis in these two perspectives of the primal approach is given to the first order necessary conditions of both models which are the consequence of enveloping the closed convex set describing technology with its tangents. The dual model includes starting from the normalized profit function and recovering the production function, and alternatively the real variable cost function. In the first perspective of the dual approach the choice variable is the real wage, and in the second it is the real product price expressed in the labour units. It is shown that the change of variables into parameters and parameters into variables leads to both optimization models which give the same system of labour demand and product supply functions and their inverses. By deductively applying the results of convex analysis the comparative statics results are derived describing the firm's behaviour in the short run.

Age differences in career activities among higher-level employees in the Netherlands: a comparison between profit sector and non-profit sector staff

NARCIS (Netherlands)

van der Heijden, Beatrice

2006-01-01

The present study describes age differences in the occurrence of career activities among profit sector and non-profit sector employees in the Netherlands. Three different types of variables have been studied, i.e. individual, job-related and organizational variables. Hypotheses have been tested with

Outcomes in breast cancer patients relative to margin status after treatment with breast-conserving surgery and radiation therapy: the University of Pennsylvania experience

International Nuclear Information System (INIS)

Peterson, Michael E.; Schultz, Delray J.; Reynolds, Carol; Solin, Lawrence J.

1999-01-01

Purpose: To evaluate the significance of final microscopic resection margin status on treatment outcomes in women with early breast cancer who are treated with breast-conserving surgery and definitive breast irradiation. Methods and Materials: An analysis was performed of 1021 consecutive women with clinical Stage I or II invasive carcinoma of the breast treated with breast-conserving surgery and definitive breast irradiation. Complete gross excision of tumor was performed in all cases, and an axillary staging procedure was performed to determine pathologic axillary lymph node status. The 1021 patients were divided into four groups based on the final microscopic margin from the tumor excision or from the re-excision if performed. These four groups were: (a) 518 patients with negative margins; (b) 124 patients with focally positive margins; (c) 96 patients with focally close margins (≤ 2 mm); and (d) 283 patients with unknown margins. Results: Local failure was not significantly different in patients with negative, focally positive, focally close or unknown final pathologic margins of resection at 8 years (8% vs. 10% vs. 17% vs. 16%, respectively, p = 0.21). The 8-year outcome also was not different among the four groups for overall survival (86% vs. 83% vs. 88% vs. 81%, respectively, p = 0.13), cause-specific survival (89% vs. 86% vs. 88% vs. 83%, respectively, p 0.14), no evidence of disease survival (81% vs. 73% vs. 86% vs. 77%, respectively, p = 0.09), and freedom from distant metastases (85% vs. 75% vs. 86% vs. 79%, respectively, p = 0.08). Conclusion: These results demonstrate that selected patients with focally positive or focally close microscopic resection margins can be treated with breast-conserving surgery and definitive breast irradiation with 8-year local control rates and survival rates that are similar to those seen in breast-conservation patients with negative or unknown final resection margins

Comparing profitability of Burlina and Holstein Friesian cattle breeds

Directory of Open Access Journals (Sweden)

Martino Cassandro

2010-01-01

Full Text Available Aim of this study was to compare profitability of Burlina and Holstein Friesian cows in northern Italy. Cow’s profitability was calculated for each breed, with consideration of economic incentive programs and alternative milk pricing scenarios. The difference in annual profitability between Burlina and Holstein Friesian ranged from −€719 to −€274 per cow per year. In a low-input management level with a cow’s incentive payment and a specific cheese market strategy the low milk yield of Burlina can be compensate respect to Holstein Friesian.

Isolated port site recurrence of node-negative clinical stage IB1 cervical adenocarcinoma

Directory of Open Access Journals (Sweden)

Uma Deshmukh

2017-05-01

Conclusion: This is the first case report describing an isolated port site recurrence in a patient who underwent robotic-assisted laparoscopic surgery for early-stage cervical adenocarcinoma with negative margins and negative lymph nodes. The mechanism underlying this isolated recurrence remains unknown.

Macrofaunal community structure in the western Indian continental margin including the oxygen minimum zone

Digital Repository Service at National Institute of Oceanography (India)

Ingole, B.S.; Sautya, S.; Sivadas, S.; Singh, R.; Nanajkar, M.

(H`) showed a significant negative (P < 0.01) relationship between sediment Chl-a and C sub(org), suggesting food availability as a critical factor in species dominance. Results of multivariate analyses suggest that for continental margin fauna...

Medical Schools for Profit?

African Journals Online (AJOL)

[3] The same could be said of E-learning in medical education.[4,5] Thirdly allowing profits within medical education should attract more investment. Investors could sink funds into medical education, and learners would benefit as a result; inevitably investors would like to see a return on investment – however, successful.

From People to Profits.

Science.gov (United States)

Barber, L.; Hayday, S.; Bevan, S.

An empirical test of the service-profit chain in a large United Kingdom retail business explored how employee attitudes and behavior can improve customer retention and, consequently, company sales performance. Data were collected from 65,000 employees and 25,000 customers from almost 100 stores. The business collected customer satisfaction for…

Dynamic Profit Inefficiency: A DEA Application to Belgian Dairy Farms

OpenAIRE

Ang, Frederic; Oude Lansink, Alfons

2014-01-01

Using a nonparametric framework, we analyze dynamic profit inefficiency for a sample of Belgian, specialized dairy farms from 1996–2008. Profit inefficiency is decomposed into contributions of output, input, and investment. Moreover, we identify the contributions of technical and allocative inefficiency in each input and output. The results suggest substantial profit inefficiency under the current dairy-quota system, mainly driven by an average underproduction of approximately 50 percent and ...

Pengaruh Biaya, Produktivitas Aktiva dan Struktur Modal dalam Meningkatkan Profitabilitas Perusahaan

Directory of Open Access Journals (Sweden)

Muhammad Yusuf

2010-11-01

Full Text Available This study examined the effect of cost, productivity of assets and capital structure of an automotive company's profitability. This study focuses on the productivity of assets which include factors such as operating leverage, sales, inventory turnover, net working capital, liquidity, receivable collection, fixed asset ratio, and total asset turnover. Capital Structure includes the degree of financial leverage. Profitability factor in this study includes operating margin, return on assets and return on equity. Sample used are 45 automotive industry companies who have registered and still active until December 31, 2009. The statistical methods used in this research are classical assumption test, f test and t test. This study indicates that inventory turns, liquidity, receivable collections and, the ratio of fixed assets have a negative outcome to the total asset turnover, while net working capital has a positive outcome. Operating margin and total asset turnover both have positive values that have an impact on return on assets. Capital structure and degree of operating leverage both have negative results on the turnover of capital, while return on assets have positive results. 

Gaining control room habitability margin at the Palisades Plant

International Nuclear Information System (INIS)

Harden, P.A.

1993-01-01

The bounding design-basis accident for control room habitability is the loss-of-coolant accident (LOCA). At Palisades, very little margin existed between the calculated control room operator thyroid dose and the 0.3-Sv (30-rem) limit of Standard Review Plan (SRP) 6.4. Also, a low rate of unfiltered air leakage into the control room during the emergency mode of operation, 5.5 x 10 -3 m 3 /s (11.6 ft 3 /min), was accounted for in the control room habitability analysis. The control room heating, ventilating and air-conditioning system at Palisades has louvered isolation dampers for the normal air intake that are exposed to a negative pressure. Considering the small margin to the thyroid dose limits and the leakage characteristics of louvered dampers, a low allowable rate of unfiltered air in-leakage raised some concern. A significant effort has been initiated to alleviate control room habitability concerns at Palisades. The first step in this effort was to evaluate the calculational models for control room habitability and gain margin through updated analytical methods. To accomplish this, a new radiological consequence analysis for the LOCA was completed

Radiotherapy boost dose-escalation for invasive breast cancer after breast-conserving surgery: 2093 Patients treated with a prospective margin-directed policy

International Nuclear Information System (INIS)

Livi, Lorenzo; Meattini, Icro; Franceschini, Davide; Saieva, Calogero; Meacci, Fiammetta; Marrazzo, Livia; Gerlain, Elena; Desideri, Isacco; Scotti, Vieri; Nori, Jacopo; Sanchez, Luis Jose; Orzalesi, Lorenzo; Bonomo, Pierluigi; Greto, Daniela; Bianchi, Simonetta; Biti, Giampaolo

2013-01-01

Purpose: To investigate the outcome of invasive early breast cancer patients that underwent breast-conserving surgery and adjuvant radiotherapy (RT), treated with a prospective margin-directed institutional policy for RT boost dose, based on final margins status (FMS). Methods and materials: A total of 2093 patients were treated between 2000 and 2008. 10 Gy boost was prescribed in case of FMS > 5 mm; 16 Gy boost with FMS between 2 and 5 mm; 20 Gy boost in case of FMS 5 mm. At multivariate analysis, higher nuclear grade (p = 0.045), triple negative subtype (p = 0.036) and higher T-stage (p = 0.02) resulted as the independent predictors of LR occurrence. Conclusions: Our experience showed that a margin-directed policy of RT boost dose-escalation seems to reduce the negative impact of FMS on LR, but it is not able to overcome the unfavorable effect of higher nuclear grade, higher T stage and triple negative subtype

Risk and profitability of animal and crop production in Slovak farms

Directory of Open Access Journals (Sweden)

Marián Tóth

2017-10-01

Full Text Available The paper focuses on profitability and risk of crop and animal production based on an analysis of farms operating in Slovak Republic. The individual farm data used for the analysis are from the database of Ministry of Agriculture and Rural Development of the Slovak Republic. For our analysis, data were selected according to the farm production orientation to the subset of crop farms and animal farms. The selecting criterion for production orientation was the percentage share of revenues from crop production, or revenues from animal production from the overall revenues from own products and services. We analyse profitability of farms divided into groups based on the type of production into crop and animal farms (according to the share in sales from crop or animal production. Using descriptive statistics and portfolio theory we simulate the total farm profitability and volatility of animal and crop production in Slovakia. The modified Markowitz portfolio theory approach was used to estimate the total risk of portfolios of crop and animal farms. Based on the results we conclude that in the long run crop farms are profitable and profit from crop production is used to cover the losses from animal production in mixed farms. Farms focused on animal production only are efficient and profitable, but the profitability is lower in comparison with crop farms. Animal farms results are less volatile than crop farms. Large farms tend to production with lower value added and can generate enough profit for the owner.

Investigating banks’ financial structure on profitability and price volatility of banks’ shares: Evidence from Tehran Stock Exchange

OpenAIRE

Zeinab Mirzaei; Mohsen Hamidian; Mohammad Khodaei Valahzaghard

2014-01-01

This paper presents an empirical investigation to study the relationship between financial structure on profitability and price volatility of banks’ shares, which are operating in Iran. The proposed study considers the information of 21 Iranian banks over the period 2006-2012. Using some regression techniques, the study has determined that there was a negative relationship between leverage and return on assets but there was not any meaningful relationship between leverage and price volatility...

Subfield profitability analysis reveals an economic case for cropland diversification

Science.gov (United States)

Brandes, E.; McNunn, G. S.; Schulte, L. A.; Bonner, I. J.; Muth, D. J.; Babcock, B. A.; Sharma, B.; Heaton, E. A.

2016-01-01

Public agencies and private enterprises increasingly desire to achieve ecosystem service outcomes in agricultural systems, but are limited by perceived conflicts between economic and ecosystem service goals and a lack of tools enabling effective operational management. Here we use Iowa—an agriculturally homogeneous state representative of the Maize Belt—to demonstrate an economic rationale for cropland diversification at the subfield scale. We used a novel computational framework that integrates disparate but publicly available data to map ˜3.3 million unique potential management polygons (9.3 Mha) and reveal subfield opportunities to increase overall field profitability. We analyzed subfield profitability for maize/soybean fields during 2010-2013—four of the most profitable years in recent history—and projected results for 2015. While cropland operating at a loss of US 250 ha-1 or more was negligible between 2010 and 2013 at 18 000-190 000 ha (profitable areas, incorporating conservation management that breaks even (e.g., planting low-input perennials), into low-yielding portions of fields could increase overall cropland profitability by 80%. This approach is applicable to the broader region and differs substantially from the status quo of ‘top-down’ land management for conservation by harnessing private interest to align profitability with the production of ecosystem services.

Maximising profitability through the use of simulation for new market crudes evaluation

Energy Technology Data Exchange (ETDEWEB)

Mendez, Maryro P. [KBC Advanced Technologies, Surrey (United Kingdom)

2012-07-01

There is nothing that contributes more to the cost of production for a refinery than the cost of crude oil and other feedstocks. The efficient and effective evaluation and selection of crude oil to a refinery will have a very significant impact on its profitability. The crude oil selected will impact the utilization and output from different process units, has the potential to impact maintenance and energy costs, and will impact product properties from the refinery. The tools and knowledge necessary for a good new crude evaluation program are addressed as part of this paper. The work process is outlined in detail. Finally, we address some of the risk management issues inherent in processing high margin crudes. Innovative simulation tools like Petro-SIM offer the platform to evaluate opportunities to capture the value that the sour/sweet crude differential and that the new crudes coming in to the market have to offer for a given refinery configuration. The paper provides comments on how KBC's methodology has helped refiners to check their ability to run new challenging crudes. (author)

Differences in technology innovation R&D performance creation behavior between for-profit institutions and not-for-profit institutions.

Science.gov (United States)

Park, Sungmin

2016-01-01

The present study compares the performance creation behavior between for-profit institutions and not-for-profit institutions within a national technology innovation research and development (R&D) program. Based on the stepwise performance creation chain structure of typical R&D logic models, a series of successive binary logistic regression models is newly proposed. Using the models, a sample of n = 2076 completed government-sponsored R&D projects was analyzed. For each institution type, its distinctive behavior is diagnosed, and relevant implications are suggested for improving the R&D performance.

The impact of liquidity on bank profitability

OpenAIRE

Bordeleau, Etienne; Graham, Christopher

2010-01-01

The recent crisis has underlined the importance of sound bank liquidity management. In response, regulators are devising new liquidity standards with the aim of making the financial system more stable and resilient. In this paper, the authors analyse the impact of liquid asset holdings on bank profitability for a sample of large U.S. and Canadian banks. Results suggest that profitability is improved for banks that hold some liquid assets, however, there is a point at which holding further liq...

PROFITABILITY RATIO AS A TOOL FOR BANKRUPTCY PREDICTION

Directory of Open Access Journals (Sweden)

Daniel BRÎNDESCU – OLARIU

2016-07-01

Full Text Available The current study evaluates the potential of the profitability ratio in predicting corporate bankruptcy. The research is focused on Romanian companies, with the targeted event being represented by the manifestation of bankruptcy 2 years after the date of the financial statements of reference. All tests were conducted over 2 paired samples of 1176 Romanian companies. The methodology employed in evaluating the potential of the profitability ratio was based on the Area Under the ROC Curve (0.663 and the general accuracy ensured by the ratio (62.6% out-of-sample accuracy. The results confirm the practical utility of the profitability ratio in the prediction of bankruptcy and thus validate the need for further research focused on developing a methodology of analysis.

The relationship of CSR and the business profit: can the most responsible companies be more profitable?

Directory of Open Access Journals (Sweden)

Antonio Miguel Gil Salmerón

2016-10-01

Full Text Available Persistent financial crisis and the cases of corruption afflicting Spain have broken the trust of society that forcefully demands an ethical, responsible and sustainable management of organizations, which are not immune to environmental problems. The effects of globalization, the introduction of tecnoestructura as a management model, technological and socio-economic changes have reshaped the cultural, management and ownership system of the current company, the company nowadays is transferred the responsibility to combine growth and competitiveness with social development and environmental improvement. This reconfiguration of business management model is implemented with the introduction of Corporate Social Responsibility (CSR in the strategic plans of the companies with the purpose of achieving a competitive advantage. The question is: can the most responsible companies be more profitable? The introduction of CSR in the organizational culture of the companies involved as a vector, accelerates the profitability of the companies that apply it: the higher level of CSR used, the more profitable the companies are. These conclusions are determined from a linear regression analysis comparing the ROA –return on assets– to CSR levels in a hundred companies with higher levels of sustainability that operate in Spain, according to a survey published in 2014 by the Monitor business Corporate Reputation (Merco

Factor analysis of financial and operational performance measures of non-profit hospitals.

Science.gov (United States)

Das, Dhiman

2009-01-01

To understand the important dimensions of the financial and operational performance of non-profit hospitals. Secondary data for non-profit US hospitals between 1996 and 2004. I use iterative principal factor analysis of hospitals' financial and operational ratios for each year of the study. For factor interpretation, I use oblique rotation. Financial ratios were created using cost report data from HCRIS 2552-96 available from the Centers for Medicaid & Medicare Services (CMS). I identify five factors--capital structure, profitability, activity, liquidity, and an operational factor--that explain most of the variation in the performance of non-profit hospitals. I also find that capital structure is more important than profitability in determining the performance of these hospitals. The importance of capital structure highlights a significant shift in the organization of the non-profit hospitals' finances.

Extreme phosphorus losses in drainage from grazed dairy pastures on marginal land.

Science.gov (United States)

McDowell, Richard W; Monaghan, Ross M

2015-03-01

With the installation of artificial drainage and large inputs of lime and fertilizer, dairy farming can be profitable on marginal land. We hypothesized that this will lead to large phosphorus (P) losses and potential surface water impairment if the soil has little capacity to sorb added P. Phosphorous was measured in drainage from three "marginal" soils used for dairying: an Organic soil that had been developed out of scrub for 2 yr and used for winter forage cropping, a Podzol that had been developed into pasture for 10 yr, and an intergrade soil that had been in pasture for 2 yr. Over 18 mo, drainage was similar among all sites (521-574 mm), but the load leached to 35-cm depth from the Organic soil was 87 kg P ha (∼89% of fertilizer-P added); loads were 1.7 and 9.0 kg ha from the Podzol and intergrade soils, respectively. Soil sampling to 100 cm showed that added P leached throughout the Organic soil profile but was stratified and enriched in the top 15 cm of the Podzol. Poor P sorption capacity (<5%) in the Organic soil, measured as anion storage capacity, and tillage (causing mineralization and P release) in the Organic and intergrade soils were thought to be the main causes of high P loss. It is doubtful that strategies would successfully mitigate these losses to an environmentally acceptable level. However, anion storage capacity could be used to identify marginal soils with high potential for P loss for the purpose of managing risk. Copyright © by the American Society of Agronomy, Crop Science Society of America, and Soil Science Society of America, Inc.

The implementation of customer profitability analysis: a case study

NARCIS (Netherlands)

van Raaij, E.M.; Vernooij, M.J.A.; Vernooij, Maarten J.A.; van Triest, S.P.

2003-01-01

By using customer profitability analysis (CPA), firms can determine the profit contribution of customer segments and/or individual customers. This article presents an approach for the implementation of CPA. The implementation process is illustrated using a case study of a firm producing and selling

THE EFFECT OF WORKING CAPITAL ON THE PROFITABILITY OF PALM OIL PLANTATION COMPANIES

Directory of Open Access Journals (Sweden)

Tania Prafitri

2017-05-01

Full Text Available Management decisions related to working capital are based on the management of short-term assets and liabilities, aiming to ensure that the company is able to maintain the operations and have sufficient cash flows to finance short-term debt maturities and operational costs, as well as to improve the profitability of the company. The objective of this study is to examine the effect of working capital management on company profitability. Working capital is considered to be an important issue in financial management and have an effect on liquidity as well as on the company profitability. In addition, optimized working capital management contributes greatly to the achievement of company objectives. The secondary data were taken from the annual reports of 6 oil palm plantation companies registered in the Indonesia Stock Exchange (IDX during the year 2009-2015. Profitability as a dependent variable was measured by return on investment (ROI. Cash conversion cycle (CCC, current ratio (CR, financial debt ratio (FDR, and fixed financial asset ratio (FFAR are independent variables. The analytical model used in this study was panel regression by using Fixed Effect Model. The results showed that there is a negative effect of working capital on profitability. Profitability will increase as cash cycle conversion cycle decreases. This is because companies with short cash conversion cycle are able to collect the cash needed for the company's day-to-day operations.Keywords: working capital, cash conversion cycle, current ratio, debt ratio, fixed assets ratio. profitabilityABSTRAKKeputusan manajemen yang berkaitan dengan modal kerja didasari oleh cara pengelolaan antara aset dan kewajiban jangka pendek, hal ini bertujuan untuk memastikan bahwa perusahaan mampu untuk melanjutkan kegiatan operasional dan memiliki arus kas yang cukup untuk membiayai hutang jangka pendek yang jatuh tempo dan biaya kegiatan operasional, serta untuk meningkatkan profitabilitas

The impact of profitability of hospital admissions on mortality.

Science.gov (United States)

Lindrooth, Richard C; Konetzka, R Tamara; Navathe, Amol S; Zhu, Jingsan; Chen, Wei; Volpp, Kevin

2013-04-01

Fiscal constraints faced by Medicare are leading to policies designed to reduce expenditures. Evidence of the effect of reduced reimbursement on the mortality of Medicare patients discharged from all major hospital service lines is limited. We modeled risk-adjusted 30-day mortality of patients discharged from 21 hospital service lines as a function of service line profitability, service line time trends, and hospital service line and year-fixed effects. We simulated the effect of alternative revenue-neutral reimbursement policies on mortality. Our sample included all Medicare discharges from PPS-eligible hospitals (1997, 2001, and 2005). The results reveal a statistically significant inverse relationship between changes in profitability and mortality. A $0.19 average reduction in profit per $1.00 of costs led to a 0.010-0.020 percentage-point increase in mortality rates (p profitable. Policy simulations that target service line inequities in payment generosity result in lower mortality rates, roughly 700-13,000 fewer deaths nationally. The policy simulations raise questions about the trade-offs implicit in universal reductions in reimbursement. The effect of reduced payment generosity on mortality could be mitigated by targeting highly profitable services only for lower reimbursement. © Health Research and Educational Trust.

The Impact of Profitability of Hospital Admissions on Mortality

Science.gov (United States)

Lindrooth, Richard C; Konetzka, R Tamara; Navathe, Amol S; Zhu, Jingsan; Chen, Wei; Volpp, Kevin

2013-01-01

Background Fiscal constraints faced by Medicare are leading to policies designed to reduce expenditures. Evidence of the effect of reduced reimbursement on the mortality of Medicare patients discharged from all major hospital service lines is limited. Methods We modeled risk-adjusted 30-day mortality of patients discharged from 21 hospital service lines as a function of service line profitability, service line time trends, and hospital service line and year-fixed effects. We simulated the effect of alternative revenue-neutral reimbursement policies on mortality. Our sample included all Medicare discharges from PPS-eligible hospitals (1997, 2001, and 2005). Results The results reveal a statistically significant inverse relationship between changes in profitability and mortality. A $0.19 average reduction in profit per $1.00 of costs led to a 0.010–0.020 percentage-point increase in mortality rates (p payment generosity than in service lines that remain profitable. Policy simulations that target service line inequities in payment generosity result in lower mortality rates, roughly 700–13,000 fewer deaths nationally. Conclusions The policy simulations raise questions about the trade-offs implicit in universal reductions in reimbursement. The effect of reduced payment generosity on mortality could be mitigated by targeting highly profitable services only for lower reimbursement. PMID:23346946

Energy productivity, fertilization rate and profitability of wheat production after various predecessors II.Profitability of wheat production

Directory of Open Access Journals (Sweden)

Z. Uhr

2016-03-01

Full Text Available Abstract. In the course of our study on the adaptation of modern genotypes common winter wheat (Triticum aestivum to the requirements of sustainable agriculture data were received concerning the influence of the predecessor and nitrogen fertilizer rate on energy efficiency and recyclable nitrogen fertilization and profitability of productivity.We share these data with the scientific community, as they are up-to-date and informative in both theoretical and practical aspects. The analyses are based on data from field experiments fertilizer derived after predecessor cereals – regular crop of sorghum, millet, maize and legumes after predecessor - separate sowing of chickpeas. Energy efficiency of nitrogen fertilization was calculated as the ratio between the energy supplied in the additional grain yield and energy input in the form of fertilizers. Refundable efficiency of nitrogen fertilization is the additional amount of nitrogen accumulated in the grain, with respect to the applied nitrogen fertilization. Economic profitability of production is evaluated by coefficient R = P/Ra (ratio of benefits/costs. The results show that energy efficiency and recyclable nitrogen fertilization are on average five times higher after cereal than after legumes predecessor, and decreased with increasing the fertilizer rate, the decrease was statistically significant only for the first item (exponent. Profitability ratio of production after the introduction of legumes predecessor in crop rotation increases by an average of 42% and retains maximum values of fertilization levels 0.06, 0.12 and 0.18 t/ha nitrogen. Profitability of wheat production using pre-legumes crop is not determined by the parameters nitrogen fertilizer rate and energy efficiency of nitrogen fertilization and refundable efficiency of nitrogen fertilization.

10 CFR 603.650 - Designation of auditor for for-profit participants.

Science.gov (United States)

2010-01-01

... 10 Energy 4 2010-01-01 2010-01-01 false Designation of auditor for for-profit participants. 603... Financial Matters § 603.650 Designation of auditor for for-profit participants. The auditor identified in an... circumstances, as follows: (a) The Federal cognizant agency or an IPA will be the auditor for a for-profit...

Transforming the tobacco market: why the supply of cigarettes should be transferred from for-profit corporations to non-profit enterprises with a public health mandate

OpenAIRE

Callard, C; Thompson, D; Collishaw, N

2005-01-01

Current tobacco control strategies seek primarily to decrease the demand for cigarettes through measures that encourage individuals to adopt healthier behaviours. These measures are impeded and undermined by tobacco corporations, whose profit drive compels them to seek to maintain and expand cigarette sales. Tobacco corporations seek to expand cigarette sales because they are for-profit business corporations and are obliged under law to maximise profits, even when this results in harm to othe...

Profitability of irradiation plants

International Nuclear Information System (INIS)

Bustos R, M.E.; Gonzalez F, C.; Liceaga C, G.; Ortiz A, G.

1997-01-01

In any industrial process it is seek an attractive profit from the contractor and the social points of view. The use of the irradiation technology in foods allows keep their hygienically, which aid to food supply without risks for health, an increment of new markets and a losses reduction. In other products -cosmetics or disposable for medical use- which are sterilized by irradiation, this process allows their secure use by the consumers. The investment cost of an irradiation plant depends mainly of the plant size and the radioactive material reload that principally is Cobalt 60, these two parameters are in function of the type of products for irradiation and the selected doses. In this work it is presented the economic calculus and the financial costs for different products and capacities of plants. In general terms is determined an adequate utility that indicates that this process is profitable. According to the economic and commercial conditions in the country were considered two types of credits for the financing of this projects. One utilizing International credit resources and other with national sources. (Author)

The profitability of automatic milking on Dutch dariy farms

NARCIS (Netherlands)

Bijl, R.; Kooistra, S.R.; Hogeveen, H.

2007-01-01

Several studies have reported on the profitability of automatic milking based on different simulation models, but a data-based study using actual farm data has been lacking. The objective of this study was to analyze the profitability of dairy farms having an automatic milking system (AMS) compared

How Managerial Ownership Affects Profit Maximization in Newspaper Firms.

Science.gov (United States)

Busterna, John C.

1989-01-01

Explores whether different levels of a manager's ownership of a newspaper affects the manager's profit maximizing attitudes and behavior. Finds that owner-managers tend to place less emphasis on profits than non-owner-controlled newspapers, contrary to economic theory and empirical evidence from other industries. (RS)

"We call ourselves marginalized"

DEFF Research Database (Denmark)

Jørgensen, Nanna Jordt

2014-01-01

of the people we refer to as marginalized. In this paper, I discuss how young secondary school graduates from a pastoralist community in Kenya use and negotiate indigeneity, marginal identity, and experiences of marginalization in social navigations aimed at broadening their current and future opportunities. I...

Islamic banks and profitability: an empirical analysis of Indonesian banking

OpenAIRE

Jordan, Sarah

2013-01-01

This paper provides an empirical analysis of the factors that determine the profitability of Indonesian banks between the years 2006-2012. In particular, it investigates whether there are any significant differences in terms of profitability between Islamic banks and commercial banks. The results, obtained by applying the system-GMM estimator to the panel of 54 banks, indicate that the high bank profitability during these years were determined mainly by the size of the banks, the market share...

Research of profit earner in professional football

Directory of Open Access Journals (Sweden)

Tsyganok A.V.

2010-06-01

Full Text Available The term of professional sport is considered. The models of entrepreneurial activity are described in this sphere. The structure of income of soccer clubs of France, USA and Ukraine is analysed. The tendencies of receipt of profits are rotined on the example of professional soccer clubs of Ukraine. It is marked that in Ukraine actual two models of orientation of conduct of sporting business on condition of high-efficiency management and marketing. For the increase of profits necessary changes are in a current legislation.

A study on relationship between working capital and profitability

Directory of Open Access Journals (Sweden)

Hassan Ghodrati

2014-08-01

Full Text Available This paper studies the relationship between working capital management and profitability of accepted corporations in Tehran Stock Exchange over the period 2008-2012. The study selected 66 firms as a statistical sample based on Cochran formula and simple random selection. In this study, variables including the average period of collecting accordance, periods of circulation of inventories, the average period of debt payment, and cycle of cash conversion on the factories operating profits are studied. The research method is applied and collection of data is solidarity, the Pierson and Regression solidarity are used. Results show that variables of capital investment management and profitability were in opposite direction. If the period of collecting accordance, period of debt payment, period of circulation of inventories and the cycle of cash conversion increase, it decreases the period profitability and the manager can decrease the period of debt payment, period of cash conversion to the least amount of positive value for affiliate.

Optimal Speed Control for Cruising

DEFF Research Database (Denmark)

Blanke, M.

1994-01-01

With small profit margins in merchant shipping and more than eighty percent of sailing time being cross ocean voyages, speed control is crucial for vessel profitability......With small profit margins in merchant shipping and more than eighty percent of sailing time being cross ocean voyages, speed control is crucial for vessel profitability...

Capital structure and profitability. A case of JSE Listed Companies.

Directory of Open Access Journals (Sweden)

Faith Mashavave

2015-03-01

Full Text Available The research aims to find out the relationship between capital structure and profitability focusing on firms listed on the Johannesburg stock exchange in South Africa. Past research on this topic excluded the Johannesburg Stock Exchange listed firms. The research results will be useful to the business people in South Africa because it will be more in line with the South African economic status and thus relevant. From the graphs and tables of the companies analyzed, it appears there is no relationship between the capital structure and profitability. The fluctuations in the debt/equity ratio and profitability ratio are so severe to such an extent that no meaningful conclusion regarding the relationship between capital structure and profitability can be made. The outcomes are haphazard there is no uniformity and consistence on the outcomes. Other hindrances to the relationship between capital structure and profitability were also discovered and these were attributed to the environmental factors of the company such as economic, political, and social and all other external forces that companies under study were exposed to.

Risk factors for positive margins in conservative surgery for breast cancer after neoadjuvant chemotherapy.

Science.gov (United States)

Bouzón, Alberto; Acea, Benigno; García, Alejandra; Iglesias, Ángela; Mosquera, Joaquín; Santiago, Paz; Seoane, Teresa

2016-01-01

Breast conservative surgery after neoadjuvant chemotherapy intends to remove any residual tumor with negative margins. The purpose of this study was to analyze the preoperative clinical-pathological factors influencing the margin status after conservative surgery in breast cancer patients receiving neoadjuvant chemotherapy. A retrospective study of 91 breast cancer patients undergoing neoadjuvant chemotherapy (92 breast lesions) during the period 2006 to 2013. A Cox regression analysis to identify baseline tumor characteristics associated with positive margins after breast conservative surgery was performed. Of all cases, 71 tumors were initially treated with conservative surgery after neoadjuvant chemotherapy. Pathologic exam revealed positive margins in 16 of the 71 cases (22.5%). The incidence of positive margins was significantly higher in cancers with initial size >5cm (P=.021), in cancers with low tumor grade (P=.031), and in patients with hormone receptor-positive cancer (P=.006). After a median follow-up of 45.2 months, 7 patients of the 71 treated with conservative surgery had disease recurrence (9.8%). There was no significant difference in terms of disease-free survival according to the margin status (P=.596). A baseline tumor size >5cm, low tumor grade and hormone receptor-positive status increase the risk for surgical margin involvement in breast conservative surgery after neoadjuvant chemotherapy. Copyright © 2016 AEC. Publicado por Elsevier España, S.L.U. All rights reserved.

A branch-and-cut algorithm for the capacitated profitable tour problem

DEFF Research Database (Denmark)

Jepsen, Mads Kehlet; Petersen, Bjørn; Spoorendonk, Simon

2014-01-01

This paper considers the Capacitated Profitable Tour Problem (CPTP) which is a special case of the Elementary Shortest Path Problem with Resource Constraints (ESPPRC). The CPTP belongs to the group of problems known as traveling salesman problems with profits. In CPTP each customer is associated...... with a profit and a demand and the objective is to find a capacitated tour (rooted in a depot node) that minimizes the total travel distance minus the profit of the visited customers. The CPTP can be recognized as the sub-problem in many column generation applications, where it is traditionally solved through...

COMPARATIVE ANALYSIS OF PROFITABILITY DETERMINANTS OF DOMESTIC AND FOREIGN ISLAMIC BANKS IN MALAYSIA

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Muhamad Muda

2013-07-01

Full Text Available This paper is conducted to compare the determinants of profitability of the domestic and foreign Islamic banks operating in Malaysia. The Generalized Least Square (GLS is employed with unbalanced panel data on seventeen Islamic banks, using quarterly data for the period of 2007 to 2010. In order to find out the differences in the profitability determinants, the sample of banks is divided into two sub-samples (domestic and foreign. The results reveal that domestic Islamic banks are more profitable than foreign Islamic banks. The results also show that the profitability determinants of domestic banks are different from those of foreign banks. The overhead expenses, loans, efficiency, gross domestic product growth rate and bank size have a significant effect in determining banks’ profitability, in which case applicable to the domestic banks only. In turn, the gross domestic product per capita has a significant effect in determining banks’ profitability of only the foreign banks. The study finds that, deposits, capital and reserves, inflation and banks’ age have a significant effect in determining banks’ profitability of both domestic and foreign banks. Meanwhile, liquidity and concentration are not able to explain the variability of domestic and foreign Islamic banks’ profitability. The findings indicate that the profitability of domestic banks is affected by the global financial crisis while, the profitability of foreign banks is not affected.

Profit allocation of independent power producers based on cooperative Game theory

International Nuclear Information System (INIS)

Jia, N.X.; Yokoyama, R.

2003-01-01

With the development of deregulation, the retail market is being formed. The independent power producers (IPPs) can contact the customers and sell electric power to them directly to obtain the profits because IPPs can provide electricity at cheaper prices to the customers than the utilities can. If IPP can obtain further more profit through collaborating with other ones in some coalition, it will prefer to collaborate to form this coalition rather than participating individually. In coalition, also the problem of how to allocate profit rationally for each IPP should also be solved. In this paper, we discuss the cooperation of IPPs in retail market and give a formulation about the calculation of IPPs profits. After that, based on Game theory, we propose a scheme to decide the profit allocation of each IPP in the coalitions rationally and impartially. (author)

Impact of Liquidity on Islamic Banks' Profitability: Evidence from Bangladesh

Directory of Open Access Journals (Sweden)

Limon Moinur Rasul

2013-04-01

Full Text Available This study examines the impact of liquidity on Islamic banks’ profitability during an 11 years period of 2001 to 2011. To explore and interpret the results the study has taken samples from five Islamic banks that have been in operation in Bangladesh on or before 2001 to till date. In order to construct the liquidity model it used four liquidity variables namely cash & due from banks to total assets (CDTA, cash & due from banks to total deposits (CDDEP, investment to total assets (INVSTA and investment to total deposits (INVSDEP. According to adjusted R squares profitability variables return on assets (ROA, return on equity (ROE and return on deposits (ROD are respectively 17.1%, 4.5% and 24.6% dependent on independent variables. The statistical results suggest that CDTA is found insignificant with all profitability variables, whereas CDDEP is individually significant with all profitability variables except ROE. On the other hand INVSTA and INVSDEP are recognized significant with all three profitability variables. However, when ROE stands for an insignificant relationship with the overall liquidity model, ROA and ROD are identified significantly correlated with the similar model at 1% significant level. Unsurprisingly the findings do strengthen the specification that the impact of liquidity reflects adequate imposition on profitability that the Islamic banks in Bangladesh must abide by.

Analysis of profitability and poverty reduction of yoghurt processing ...

African Journals Online (AJOL)

The study assessed the profitability of yoghurt processing with a view of determining its potentials for reducing poverty in Maiduguri Metropolitan Area. Data were collected from a survey of 10 yoghurt processing firms in Maiduguri and analysed using profit model and descriptive statistics. Results revealed that yoghurt ...

Profitability analysis of catfish farming in Suleja local government ...

African Journals Online (AJOL)

The problem of profitability and scale of production of catfish has not been properly addressed. This study was conducted in Suleja Local Government Area of Niger State to assess the profitability of catfish production. Forty (40) catfish farmers were selected from the study area using simple random sampling techniques.

Potential profitability of pearl culture in coastal communities in Tanzania

Directory of Open Access Journals (Sweden)

Ismail Saidi

2017-02-01

Full Text Available Artisanal half-pearl culture has been shown to provide livelihood and economic opportunities for coastal communities in Tanzania that depend directly on exploitation of marine resources. However, these pilot research studies have been supported by donor organisations and the economic feasibility of such development has not yet been assessed. Furthermore, there is little understanding of the costs required to establish pearl farms and the relative impacts of farm size on production, running costs, profitability and risks involved in production. The aim of this study was to develop economic models for subsistence level half-pearl culture in Tanzania. Models were generated for various scenarios relating to farm size and products (i.e. half-pearls and juvenile oyster or ‘spat’ collection and they give detail on infrastructure costs, operational costs and income generated for various levels of operation. We concluded that the most profitable model for community-based pearl farming is to culture at least 600 oysters for half-pearl production. However, for communities to be able to run a sustainable and profitable enterprise, development of a sustainable source of oysters is crucial. Farmers can also generate income from collection of juvenile oysters and their subsequent sale to pearl farmers, but this is less profitable than half-pearl farming and requires a longer operational period before profits are made. Like pearl farming, there were major benefits or economies of scale with the largest farms tested providing greatest profit and/or a shorter time required to reach profitability. Our results provide a valuable source of information for prospective pearl farmers, donors, funding bodies and other stakeholders, and valuable extension information supporting further development of pearl culture in Tanzania.

Marginal Matter

Science.gov (United States)

van Hecke, Martin

2013-03-01

All around us, things are falling apart. The foam on our cappuccinos appears solid, but gentle stirring irreversibly changes its shape. Skin, a biological fiber network, is firm when you pinch it, but soft under light touch. Sand mimics a solid when we walk on the beach but a liquid when we pour it out of our shoes. Crucially, a marginal point separates the rigid or jammed state from the mechanical vacuum (freely flowing) state - at their marginal points, soft materials are neither solid nor liquid. Here I will show how the marginal point gives birth to a third sector of soft matter physics: intrinsically nonlinear mechanics. I will illustrate this with shock waves in weakly compressed granular media, the nonlinear rheology of foams, and the nonlinear mechanics of weakly connected elastic networks.

WHAT DETERMINES THE PROFITABILITY OF BANKS? EVIDENCE FROM THE US

OpenAIRE

Ruochen Wang; Xuan Wang

2015-01-01

This paper examines the factors affecting bank profitability. We use a sample of US banks over the period 2002-2014, and measure profitability using both return on assets (ROA) and return on equity (ROE). We find that banks have higher profitability when they have: (1) a lower loans to total assets ratio, (2) a lower customer deposits to total liabilities ratio, (3) a lower nonperforming loans to gross loans ratio, (4) higher efficiency, and (5) higher revenue diversification.   We...

Bank Relationship and Firm Profitability

NARCIS (Netherlands)

Degryse, H.A.; Ongena, S.

2000-01-01

This paper examines how bank relationships affect firm performance. An empirical implication of recent theoretical models is that firms maintaining multiple bank relationships are less profitable than their single-bank peers. We investigate this empirical implication using a data set containing

Re-excision of margins before breast radiation-diagnostic or therapeutic?

International Nuclear Information System (INIS)

Chism, Derek B.; Freedman, Gary M.; Li, Tianyu; Anderson, Penny R.

2006-01-01

Purpose: To identify factors in breast cancer patients that predict the pathologic results of re-excision for close or positive margins and to determine the effect on local control. Methods and Materials: We divided 1,044 patients with Stage I-II breast cancer with a close (≤2 mm) or positive margin after initial excision into three groups. Group 1 included 199 patients without additional excision, Group 2 included 546 patients with re-excision found to be free of cancer, and Group 3 included 299 patients with re-excision and residual cancer. All patients were treated with radiotherapy with a median follow-up of 6.7 years. Results: The 10-year local control rate was 95% for Group 1 and 94% for Groups 2 and 3 (p = 0.788). Of the 846 patients, 65% had no residual disease on re-excision and 35% did have residual tumor. The factors significantly associated with positive re-excision findings were initial positive margins, positive nodes, Stage T2 tumor, and an extensive intraductal component. The 10-year local control rate was 95% for Group 2 vs. 91% for Group 3 (p = 0.038). Conclusion: The low recurrence rates seen in this study suggest that selected patients with non-negative margins, particularly those with a low risk of having residual disease at re-excision, may be treated with radiotherapy

Marginalization of the Youth

DEFF Research Database (Denmark)

Jensen, Niels Rosendal

2009-01-01

The article is based on a key note speach in Bielefeld on the subject "welfare state and marginalized youth", focusing upon the high ambition of expanding schooling in Denmark from 9 to 12 years. The unintended effect may be a new kind of marginalization.......The article is based on a key note speach in Bielefeld on the subject "welfare state and marginalized youth", focusing upon the high ambition of expanding schooling in Denmark from 9 to 12 years. The unintended effect may be a new kind of marginalization....

Determinants of Profitability of Food Industry in India: A Size-Wise Analysis

Directory of Open Access Journals (Sweden)

Ramachandran Azhagaiah

2012-01-01

Full Text Available Profitability is the profit earning capacity, which is a crucial factorin contributing to the survival of firms. This paper is a maidenattempt at estimating the impact of size on profitability, consideringthe ‘size’ as the control variable. For this purpose, the selectedfirms are classified into three size categories as ‘small,’ ‘medium,’and ‘large’ based on the sales turnover. The results show that volatilityand growth are the major predictors in determining profitabilityin case of small size firms while growth is important in determiningthe profitability of medium size firms. Capital intensityhas a significant positive coefficient with the profitability of largesize firms. The overall result shows that the larger the size of thefirm, the more the investment in long lived assets has helped toincrease the profitability of the firm unlike the trend in cases ofsmall size and medium size firms.

Convexity and Marginal Vectors

NARCIS (Netherlands)

van Velzen, S.; Hamers, H.J.M.; Norde, H.W.

2002-01-01

In this paper we construct sets of marginal vectors of a TU game with the property that if the marginal vectors from these sets are core elements, then the game is convex.This approach leads to new upperbounds on the number of marginal vectors needed to characterize convexity.An other result is that

The impact of managed care and current governmental policies on an urban academic health care center.

Science.gov (United States)

Rodriguez, J L; Peterson, D J; Muehlstedt, S G; Zera, R T; West, M A; Bubrick, M P

2001-10-01

Managed care and governmental policies have restructured hospital reimbursement. We examined reimbursement trends in trauma care to assess the impact of this market driven change on an urban academic health center. Patients injured between January 1997 and December 1999 were analyzed for Injury Severity Score (ISS), length of hospital stay, hospital cost, payer, and reimbursement. Between 1997 and 1999, the volume of patients with an ISS less than 9 increased and length of stay decreased. In addition, overall cost, payment, and profit margin increased. Commercially insured patients accounted for this margin increase, because the margins of managed care and government insured patients experienced double-digit decreases. Patients with ISS of 9 or greater also experienced a volume increase and a reduction in length of stay; however, costs within this group increased greater than payments, thereby reducing profit margin. Whereas commercially insured patients maintained their margin, managed care and government insured patients did not (double- and triple-digit decreases). Managed care and current governmental policies have a negative impact on urban academic health center reimbursement. Commercial insurers subsidize not only the uninsured but also the government insured and managed care patients as well. National awareness of this issue and policy action are paramount to urban academic health centers and may also benefit commercial insurers.

IS THE PRICE RIGHT? PRICING FOR LONG TERM PROFITABILITY

Directory of Open Access Journals (Sweden)

Andrea Erika NYÁRÁDI

2007-01-01

Full Text Available The way how we choose our pricing strategy has a significant impact on company’s success. Nowadays companies more and more adopt a new way of thinking in pricing, namely pricing for a long term period in order to bring higher profitability, to build an efficient pricing strategy. Marketers have only recently begun to focus seriously on effective pricing. These companies are the so called progressive companies. They have begun doing more than just worrying about pricing. To increase profitability many are abandoning traditional reactive pricing procedures in favor of proactive pricing, making explicit corporate decisions to change their focus to growth in top-line sales to growth in profitability. The long-term implications of price strategies are still under-researched, and managers should be aware of shifts in customer reactions that may result from frequent adoption of certain strategies. The company pricing strategy should be seen in relation to developments in the company variables, internal ones (capital strength, competencies, organizational conditions, efficiency of the work force etc. as well as external ones (customers, competitors, the technological development etc., adopting strategic pricing. In this paper I will present the most effective pricing strategies leading to long term profitability, and also suggest practical conditions for pricing strategies to maximize profit in the long run.

Trauma center finances and length of stay: identifying a profitability inflection point.

Science.gov (United States)

Fakhry, Samir M; Couillard, Debbie; Liddy, Casey T; Adams, David; Norcross, E Douglass

2010-05-01

Trauma centers frequently report unfavorable financial results for the care of injured patients. Many variables contribute to these results. The objective of this study was to determine the relationship of adult trauma patient hospital length of stay (LOS) to trauma center profitability. The trauma registry of a Level I trauma center was queried for patients older than 18 years for the period July 1, 2003 to June 30, 2008. Hospital financial records were matched to patient trauma registry data. There were 7,990 patients who met selection criteria: 71% were men, mean age was 40 years, mean Injury Severity Score was 12 +/-10, 84.2% of injuries were blunt, and mean LOS was 6.23 days. In the 5 years of the study, total charges were $329,315,191, total costs were $137,680,039, and overall profit was $7,644,894. Total costs rose each year and percent collections fell. The bulk of the profit was realized from patients with LOS profitability as LOS increased. A notable "inflection point" at 11 days defined the cohort of profitable patients. Trauma patient LOS correlates closely with profitability. In this center, the vast majority of profit was realized from patients with LOS profitability and reflects the current reimbursement environment, which rewards shorter LOS over severity and quality. Copyright 2010 American College of Surgeons. Published by Elsevier Inc. All rights reserved.

Contributions to knowledge of the continental margin of Uruguay. Uruguayan continental margin: Physiographic and seismic analysis

International Nuclear Information System (INIS)

Preciozzi, F

2014-01-01

This work is about the kind of continental margins such as a )Atlantic type passive margins which can be hard or soft b) An active or Pacific margins that because of the very frequent earthquakes develop a morphology dominated by tectonic processes. The Uruguayan continental margin belongs to a soft Atlantic margin

Fixing soft margins

NARCIS (Netherlands)

P. Kofman (Paul); A. Vaal, de (Albert); C.G. de Vries (Casper)

1993-01-01

textabstractNon-parametric tolerance limits are employed to calculate soft margins such as advocated in Williamson's target zone proposal. In particular, the tradeoff between softness and zone width is quantified. This may be helpful in choosing appropriate margins. Furthermore, it offers

Profitability Identification of National Banking Through Credit, Capital, Capital Structure, Efficiency, and Risk Level

Directory of Open Access Journals (Sweden)

Sugeng Haryanto

2016-04-01

Full Text Available This study aims to analyze the influence of credit, bank capital, capital structure, efficiency and risk toward the profitability in banking industry. Bank has an important role in the economy in Indonesia in 2014. The purposive sampling technique was used in this study to filter the samples according to several criteria such as being public at least in 2008, and publicly released the financial statement from 2008-2013. The total sample of 25 banks. Multiple regression technique was used in this study to analyze the data. The results show that credit, bank capital, and capital structure positively influence the profitability. This result supported by the previous research. The other finding shows that efficiency and risk have significantly negative effect on profitability. Bangking has an 80 percent market share in the financing of intermediation function of the entire financial system.Penelitian bertujuan menganalisis pengaruh antara kredit, permodalan bank, struktur modal, efisiensi dan risiko terhadap profitabilitas pada industri perbankan. Bank mempunyai peran penting dalam ekonomi Indonesia 2014. Teknik sampling penelitian ini adalah purposive sampling, dengan kriteria bank bank telah go public sebelum tahun 2008, mempublikasikan laporan keuangan tahun 2008-2013. Jumlah sampel sebanyak 25 bank. Teknik analisis yang digunakan regresi linier berganda. Hasil penelitian menunjukkan bahwa kredit, permodalan bank dan struktur modal berpengaruh terhadap profitabilitas dengan arah positif. Hasil lainnya adalah variabel efisiensi dan risiko berpengaruh signifikan dengan arah negatif terhadap profitabilitas. Perbankan memiliki market share 80 persen dalam sistem keuangan.JEL Classification: G3, G32

SOCIAL MARGINALIZATION AND HEALTH

Directory of Open Access Journals (Sweden)

Marjana Bogdanović

2007-04-01

Full Text Available The 20th century was characterized by special improvement in health. The aim of WHO’s policy EQUITY IN HEALTH is to enable equal accessibility and equal high quality of health care for all citizens. More or less some social groups have stayed out of many social systems even out of health care system in the condition of social marginalization. Phenomenon of social marginalization is characterized by dynamics. Marginalized persons have lack of control over their life and available resources. Social marginalization stands for a stroke on health and makes the health status worse. Low socio-economic level dramatically influences people’s health status, therefore, poverty and illness work together. Characteristic marginalized groups are: Roma people, people with AIDS, prisoners, persons with development disorders, persons with mental health disorders, refugees, homosexual people, delinquents, prostitutes, drug consumers, homeless…There is a mutual responsibility of community and marginalized individuals in trying to resolve the problem. Health and other problems could be solved only by multisector approach to well-designed programs.

Pickering seismic safety margin

International Nuclear Information System (INIS)

Ghobarah, A.; Heidebrecht, A.C.; Tso, W.K.

1992-06-01

A study was conducted to recommend a methodology for the seismic safety margin review of existing Canadian CANDU nuclear generating stations such as Pickering A. The purpose of the seismic safety margin review is to determine whether the nuclear plant has sufficient seismic safety margin over its design basis to assure plant safety. In this review process, it is possible to identify the weak links which might limit the seismic performance of critical structures, systems and components. The proposed methodology is a modification the EPRI (Electric Power Research Institute) approach. The methodology includes: the characterization of the site margin earthquake, the definition of the performance criteria for the elements of a success path, and the determination of the seismic withstand capacity. It is proposed that the margin earthquake be established on the basis of using historical records and the regional seismo-tectonic and site specific evaluations. The ability of the components and systems to withstand the margin earthquake is determined by database comparisons, inspection, analysis or testing. An implementation plan for the application of the methodology to the Pickering A NGS is prepared

Determinants of Market Share of For-Profit Hospitals: An Empirical Examination

Directory of Open Access Journals (Sweden)

Seungchul Lee

2017-10-01

Full Text Available This study estimates the effects of a prospective payment system on the growth of for-profit hospitals. The empirical results show that the proportion of patient care paid for by Medicare managed care has a positive, statistically significant relationship with the market share of for-profit hospitals. Medicare managed care reimburses health care providers prospectively, and a larger portion of prospective reimbursements is received by for-profit hospitals, whose market share consequently increases. In addition, the proportion of patients with Medi-Cal and third party managed care has a positive, statistically significant relationship with the market share of for-profit hospitals.

Refined analysis results for multimedia network costs and profits

DEFF Research Database (Denmark)

Tahkokorpi, M.; Falch, Morten; Skouby, Knud Erik

This deliverable describes the techno-economic business model developed in EURORIM WP3 and presents the refined results of the multimedia service delivery cost-profit calculations......This deliverable describes the techno-economic business model developed in EURORIM WP3 and presents the refined results of the multimedia service delivery cost-profit calculations...

Profitability analysis of catfish production in Kaduna state, Nigeria ...

African Journals Online (AJOL)

This study examined the profitability of catfish production in Kaduna State, Nigeria. The objective was to determine the costs and returns in catfish production and thus the profit. Data for the study were collected through the use of well-structured questionnaire. A total of 60 catfish farmers were randomly selected from four ...

With a re-engineering of maintenance to a profitably oriented maintenance

International Nuclear Information System (INIS)

Angelevska, Silvana; Jolevski, Tome

2000-01-01

This paper presents an overview of effectiveness of the profit centered maintenance as a contemporary way of the maintenance management concept. Such redesign of a maintenance procedure results in significant gains in cost reduction and increase of the profitability and competitiveness of energy. The business process re engineering - a modern management control theory that is important aspect of the profit centered maintenance is summarized

RELATION OF DRILLING CAPACITY TO MARKET AND PROFIT

Directory of Open Access Journals (Sweden)

Mladen Zelenika

1994-12-01

Full Text Available Owner of drilling rigs should employ highly professional officers, who are capable to manage profit-orientated operations at all stages and make accurate analyses of the next three questions: how to deploy drilling crews to achieve the highest financial result; which kinds of equipment are compatible and employable in profitable operations, and how to compute the requirement of each type of equipment, and the number of drilling crews for a defined period and region to have profitable service. This paper introduce an original mathematical model convenient to compute exact values needed for an answer on these three questions. Application of this model is obvious for research of the relationship among: (i performance and cost of available drilling rigs, (ii condition on the market, and (iii estimated profit. Utilization of this model is possible only if records of market conditions' data, and data relating to progress and cost of operations in different conditions are established. These records will facilitate accurate estimation of input parameters' values and computation of output parameters' values using the Mathematical Model. Results of these computation should give basic data Tor precise plan of operation, rentabili-ty, and figures to decide the strategy of Drilling Company's capacity development.

Effective application of improved profit-mining algorithm for the interday trading model.

Science.gov (United States)

Hsieh, Yu-Lung; Yang, Don-Lin; Wu, Jungpin

2014-01-01

Many real world applications of association rule mining from large databases help users make better decisions. However, they do not work well in financial markets at this time. In addition to a high profit, an investor also looks for a low risk trading with a better rate of winning. The traditional approach of using minimum confidence and support thresholds needs to be changed. Based on an interday model of trading, we proposed effective profit-mining algorithms which provide investors with profit rules including information about profit, risk, and winning rate. Since profit-mining in the financial market is still in its infant stage, it is important to detail the inner working of mining algorithms and illustrate the best way to apply them. In this paper we go into details of our improved profit-mining algorithm and showcase effective applications with experiments using real world trading data. The results show that our approach is practical and effective with good performance for various datasets.

Effective Application of Improved Profit-Mining Algorithm for the Interday Trading Model

Directory of Open Access Journals (Sweden)

Yu-Lung Hsieh

2014-01-01

Full Text Available Many real world applications of association rule mining from large databases help users make better decisions. However, they do not work well in financial markets at this time. In addition to a high profit, an investor also looks for a low risk trading with a better rate of winning. The traditional approach of using minimum confidence and support thresholds needs to be changed. Based on an interday model of trading, we proposed effective profit-mining algorithms which provide investors with profit rules including information about profit, risk, and winning rate. Since profit-mining in the financial market is still in its infant stage, it is important to detail the inner working of mining algorithms and illustrate the best way to apply them. In this paper we go into details of our improved profit-mining algorithm and showcase effective applications with experiments using real world trading data. The results show that our approach is practical and effective with good performance for various datasets.

Prospect theory does not describe the feedback-related negativity value function.

Science.gov (United States)

Sambrook, Thomas D; Roser, Matthew; Goslin, Jeremy

2012-12-01

Humans handle uncertainty poorly. Prospect theory accounts for this with a value function in which possible losses are overweighted compared to possible gains, and the marginal utility of rewards decreases with size. fMRI studies have explored the neural basis of this value function. A separate body of research claims that prediction errors are calculated by midbrain dopamine neurons. We investigated whether the prospect theoretic effects shown in behavioral and fMRI studies were present in midbrain prediction error coding by using the feedback-related negativity, an ERP component believed to reflect midbrain prediction errors. Participants' stated satisfaction with outcomes followed prospect theory but their feedback-related negativity did not, instead showing no effect of marginal utility and greater sensitivity to potential gains than losses. Copyright © 2012 Society for Psychophysiological Research.

Indian Ocean margins

Digital Repository Service at National Institute of Oceanography (India)

Naqvi, S.W.A

in the latter two areas. Some of these fluxes are expected to be substantial in the case of Indonesian continental margins and probably also across the eastern coasts of Africa not covered in this chapter. However, a dearth of information makes these margins...

Profitability of Management Systems on German Fenlands

Directory of Open Access Journals (Sweden)

Marco Rebhann

2016-10-01

Full Text Available Fens are organic sites that require drainage for agricultural use. Lowering the groundwater level leads to trade-offs between economic benefits and environmental impacts (i.e., CO2 and nutrient emissions. To identify management options that are both environmentally and economically sustainable, a propaedeutic systematic analysis of the costs, income and profit of different land use and management systems on fenlands is necessary. This study provides an overview of the profitability, labor demand and comparative advantages of feasible management systems on German fenlands. Twenty management practices in four land use systems are analyzed. The results indicate that most management systems are profitable only with subsidies and payments for ecosystem services. In addition to sales revenue, these payments are indispensable to promote peat-saving agricultural practices on fenlands. Regarding the labor aspect, intensive management systems caused an increase in working hours per hectare, which may positively affect employment in rural areas. The calculations obtained in this study can be used as a basis for estimations of greenhouse gas (GHG mitigation costs when management systems are associated with GHG emission values.

Supply chain collaboration: A Game-theoretic approach to profit allocation

Energy Technology Data Exchange (ETDEWEB)

Ponte, B.; Fernández, I.; Rosillo, R.; Parreño, J.; García, N.

2016-07-01

Purpose: This paper aims to develop a theoretical framework for profit allocation, as a mechanism for aligning incentives, in collaborative supply chains. Design/methodology/approach: The issue of profit distribution is approached from a game-theoretic perspective. We use the nucleolus concept. The framework is illustrated through a numerical example based on the Beer Game scenario. Findings: The nucleolus offers a powerful perspective to tackle this problem, as it takes into consideration the bargaining power of the different echelons. We show that this framework outperforms classical alternatives. Research limitations/implications: The allocation of the overall supply chain profit is analyzed from a static perspective. Considering the dynamic nature of the problem would be an interesting next step. Practical implications: We provide evidence of drawbacks derived from classical solutions to the profit allocation problem. Real-world collaborative supply chains need of robust mechanisms like the one tackled in this work to align incentives from the various actors. Originality/value: Adopting an efficient collaborative solution is a major challenge for supply chains, since it is a wide and complex process that requires an appropriate scheme. Within this framework, profit allocation is essential.

Supply chain collaboration: A Game-theoretic approach to profit allocation

International Nuclear Information System (INIS)

Ponte, B.; Fernández, I.; Rosillo, R.; Parreño, J.; García, N.

2016-01-01

Purpose: This paper aims to develop a theoretical framework for profit allocation, as a mechanism for aligning incentives, in collaborative supply chains. Design/methodology/approach: The issue of profit distribution is approached from a game-theoretic perspective. We use the nucleolus concept. The framework is illustrated through a numerical example based on the Beer Game scenario. Findings: The nucleolus offers a powerful perspective to tackle this problem, as it takes into consideration the bargaining power of the different echelons. We show that this framework outperforms classical alternatives. Research limitations/implications: The allocation of the overall supply chain profit is analyzed from a static perspective. Considering the dynamic nature of the problem would be an interesting next step. Practical implications: We provide evidence of drawbacks derived from classical solutions to the profit allocation problem. Real-world collaborative supply chains need of robust mechanisms like the one tackled in this work to align incentives from the various actors. Originality/value: Adopting an efficient collaborative solution is a major challenge for supply chains, since it is a wide and complex process that requires an appropriate scheme. Within this framework, profit allocation is essential.

The Significance of Loyalty on Consumer Credit Profitability

OpenAIRE

Aditya Galih Prihartono; Ujang Sumarwan; Noer Azam Achsani; Kirbrandoko

2012-01-01

The purpose of this research is to analyze and test the effect of customer loyalty on consumer credit profitability. Loyalty Index Score was developed to determine the level of customers’ loyalty level through 4 main variables; Longevity, Depth, Breadth and Referrals. The effect of Loyalty Index Score on profitability was further tested by path analysis to find out the significance direct relationship between loyalty and profitablity and the indirect relationship between the two variable th...

Profit and Risk Measures in Oil Production Optimization

DEFF Research Database (Denmark)

Capolei, Andrea; Foss, Bjarne; Jørgensen, John Bagterp

2015-01-01

In oil production optimization, we usually aim to maximize a deterministic scalar performance index such as the profit over the expected reservoir lifespan. However, when uncertainty in the parameters is considered, the profit results in a random variable that can assume a range of values dependi...... pro and cons for each of them. Finally, among the presented risk measures, we identify two of them as appropriate risk measures when minimizing the risk....

Can a more detailed evaluation of excision margins refine cytologic follow-up of women post-LLETZ for high-grade dysplasia?

LENUS (Irish Health Repository)

Treacy, Ann

2010-09-01

The relationship between dysplastic changes in the cervical epithelium and progression to in situ carcinoma and invasive carcinoma has been extensively studied. The removal of dysplastic epithelium through the long loop excision of the transformation zone (LLETZ) in 95% of the cases is curative. About 18% to 37% of LLETZ specimens with dysplasia at the margins have recurrent\\/residual disease. Earlier small studies suggest that the degree of dysplasia at the margins could predict for recurrence and allow a risk-based stratification of follow-up. We tested this hypothesis in a large group of women post-LLETZ for high-grade dysplasia with follow-up histology and cytology over a 12-year period. The cases were divided according to the excision margin status for dysplasia and if positive, low-grade or high-grade dysplasia. The groups were compared to assess whether the LLETZ specimens\\' margin status had an impact on the subsequent cytology or histology results. Positive follow-up results were defined as any grade of dysplasia in cytology or histology. Two thousand three hundred twenty-one women had LLETZs containing high-grade dysplasia over the 12-year period. One thousand five hundred thirty-four (66.1%) women had full histology and cytology follow-up available. Eight hundred twenty (53.4%) LLETZ specimens had positive margins and 714 (46.6%) had negative margins. The grade of dysplasia at the margins was available in 796 cases (97%) with 115 (15%) showing low-grade dysplasia and 680 (85%) high-grade dysplasia. One hundred seventy (20.7%) of the specimens with positive margins had positive follow-up results compared with 105 (14.7%) of the specimens with negative margins. The presence of dysplasia at an LLETZ margin is associated with dysplasia on follow-up cytology and histology (P=0.0021); however, the grade of dysplasia at the excision margin is not predictive of recurrent\\/residual dysplasia.

Marginal kidney donor

Directory of Open Access Journals (Sweden)

Ganesh Gopalakrishnan

2007-01-01

Full Text Available Renal transplantation is the treatment of choice for a medically eligible patient with end stage renal disease. The number of renal transplants has increased rapidly over the last two decades. However, the demand for organs has increased even more. This disparity between the availability of organs and waitlisted patients for transplants has forced many transplant centers across the world to use marginal kidneys and donors. We performed a Medline search to establish the current status of marginal kidney donors in the world. Transplant programs using marginal deceased renal grafts is well established. The focus is now on efforts to improve their results. Utilization of non-heart-beating donors is still in a plateau phase and comprises a minor percentage of deceased donations. The main concern is primary non-function of the renal graft apart from legal and ethical issues. Transplants with living donors outnumbered cadaveric transplants at many centers in the last decade. There has been an increased use of marginal living kidney donors with some acceptable medical risks. Our primary concern is the safety of the living donor. There is not enough scientific data available to quantify the risks involved for such donation. The definition of marginal living donor is still not clear and there are no uniform recommendations. The decision must be tailored to each donor who in turn should be actively involved at all levels of the decision-making process. In the current circumstances, our responsibility is very crucial in making decisions for either accepting or rejecting a marginal living donor.

APLIKASI MANAJEMEN KEGIATAN UNTUK ORGANISASI NON PROFIT BERBASIS WEBSITE

Directory of Open Access Journals (Sweden)

Arif Hidayat

2017-02-01

Full Text Available Suatu organisasi memiliki berbagai program kerja, yang di dalamnya ada kepanitian khusus. Biasanya manajemen kegiatan yang berisi pengelolaan keuangan pada masing-masing organisasi dan lembaga dikepalai oleh bendahara. Pengelolaan keuangan tersebut menjadi sebuah kebutuhan, karena bendahara tersebut wajib selalu melaporkan pencatatan keuangan. Tentu akan menjadi tidak efektif jika melakukan pencatatan keuangan harus melakukannya secara manual. Di samping susah, pencatatan secara manual sangat beresiko seperti rusak dan hilangnya buku pencatatan. Ada lagi pencatatan dengan cara lain yaitu menggunakan software yang sudah ada seperti Microsoft Excel, namun hal tersebut masih kurang efisien dan kurang efektif sehingga diperlukan tools pencatatan yang lebih baik agar mencapai tujuan dan sasaran yang diinginkan. Subjek penelitian yang dibahas pada penelitian ini adalah aplikasi pengelolaan keuangan untuk organisasi non profit berbasis website. Langkah pengembangan aplikasi yaitu menggunakan waterfall model. Dari penelitian yang dilakukan menghasilkan sebuah website tentang ”aplikasi manajemen kegiatan untuk organisasi non profit berbasis website” yang dapat digunakan untuk melakukan manajemen kegiatan bagi organisasi non profit sehingga pekerjaan seorang bendahara menjadi mudah dan efektif. Keywords: Manajemen Kegiatan, Nonprofit Online, Organisasi Non Profit.

Modeling of price and profit in coupled-ring networks

Science.gov (United States)

Tangmongkollert, Kittiwat; Suwanna, Sujin

2016-06-01

We study the behaviors of magnetization, price, and profit profiles in ring networks in the presence of the external magnetic field. The Ising model is used to determine the state of each node, which is mapped to the buy-or-sell state in a financial market, where +1 is identified as the buying state, and -1 as the selling state. Price and profit mechanisms are modeled based on the assumption that price should increase if demand is larger than supply, and it should decrease otherwise. We find that the magnetization can be induced between two rings via coupling links, where the induced magnetization strength depends on the number of the coupling links. Consequently, the price behaves linearly with time, where its rate of change depends on the magnetization. The profit grows like a quadratic polynomial with coefficients dependent on the magnetization. If two rings have opposite direction of net spins, the price flows in the direction of the majority spins, and the network with the minority spins gets a loss in profit.

Home loan profitability optimisation in the financial industry / by Sias Heyns

OpenAIRE

Heyns, Sias

2007-01-01

Product profitability needs to remain a competitive advantage to a bank's home loan product. Ever changing customer needs and even more demanding customers today enforce reasons to investigate the profitability of home loans. Other aspects to consider includes transfer pricing, ROA, cost to deliver product to market areas (marketing and distribution cost) and break-even period. Banks are facing immense challenges to achieve sustainable profitability. Historically low interest rates are compre...

48 CFR 315.404-4 - Profit.

Science.gov (United States)

2010-10-01

..., unusual contingency provisions, or other risk-reducing measures, the amount of profit shall be less than... contribute to successful results. Conversely, the Contracting Officer shall view failure or unwillingness on...

Risk of Local Failure in Breast Cancer Patients With Lobular Carcinoma In Situ at the Final Surgical Margins: Is Re-excision Necessary?

Energy Technology Data Exchange (ETDEWEB)

Sadek, Betro T.; Shenouda, Mina N.; Abi Raad, Rita F. [Department of Radiation Oncology, Massachusetts General Hospital, Harvard Medical School, Boston, Massachusetts (United States); Niemierko, Andrzej [Department of Radiation Oncology, Massachusetts General Hospital, Harvard Medical School, Boston, Massachusetts (United States); Statistics Section, Massachusetts General Hospital, Harvard Medical School, Boston, Massachusetts (United States); Keruakous, Amany R. [Department of Radiation Oncology, Massachusetts General Hospital, Harvard Medical School, Boston, Massachusetts (United States); Goldberg, Saveli I. [Department of Radiation Oncology, Massachusetts General Hospital, Harvard Medical School, Boston, Massachusetts (United States); Statistics Section, Massachusetts General Hospital, Harvard Medical School, Boston, Massachusetts (United States); Taghian, Alphonse G., E-mail: ataghian@partners.org [Department of Radiation Oncology, Massachusetts General Hospital, Harvard Medical School, Boston, Massachusetts (United States)

2013-11-15

Purpose: To compare the outcome of patients with invasive breast cancer both with and without lobular carcinoma in situ (LCIS)-positive/close surgical margins after breast-conserving treatment. Methods and Materials: We retrospectively studied 2358 patients with T1-T2 invasive breast cancer treated with lumpectomy and radiation therapy from January 1980 to December 2009. Median age was 57 years (range, 24-91 years). There were 82 patients (3.5%) with positive/close LCIS margins (<0.2 cm) and 2232 patients (95.7%) with negative margins. A total of 1789 patients (76%) had negative lymph nodes. Patients who received neoadjuvant chemotherapy were excluded. A total of 1783 patients (76%) received adjuvant systemic therapy. Multivariable analysis (MVA) was performed using Cox's proportional hazards model. Results: The 5-year cumulative incidence of locoregional recurrence (LRR) was 3.2% (95% confidence interval [CI] 2.5%-4.1%) for the 2232 patients with LCIS-negative surgical margins (median follow-up 104 months) and 2.8% (95% CI 0.7%-10.8%) for the 82 patients with LCIS-positive/close surgical margins (median follow-up 90 months). This was not statistically significant (P=.5). On MVA, LCIS-positive margins after the final surgery were not associated with increased risk of LRR (hazard ratio [HR] 3.4, 95% CI 0.5-24.5, P=.2). Statistically significant prognostic variables on Cox's MVA for risk of LRR included systemic therapy (HR 0.5, 95% CI 0.33-0.75, P=.001), number of positive lymph nodes (HR 1.11, 95% CI 1.05-1.18, P=.001), menopausal status (HR 0.96, 95% CI 0.95-0.98, P=.001), and histopathologic grade (grade 3 vs grade 1/2) (HR 2.6, 95% CI 1.4-4.7, P=.003). Conclusion: Our results suggest that the presence of LCIS at the surgical margin after lumpectomy does not increase the risk of LRR or the final outcome. These findings suggest that re-excision or mastectomy in patients with LCIS-positive/close final surgical margins is unnecessary.

Federal Higher Education Policy and the Profitable Nonprofits. Policy Analysis. No. 678

Science.gov (United States)

Fried, Vance H.

2011-01-01

Undergraduate education is a highly profitable business for nonprofit colleges and universities. They do not show profits on their books, but instead take their profits in the form of spending on some combination of research, graduate education, low-demand majors, low faculty teaching loads, excess compensation, and featherbedding. The industry's…

Profitability diagnosis of refinery and improvement proposal; Seiyusho no shueki shindan to kaizen teian

Energy Technology Data Exchange (ETDEWEB)

Aoyama, H.

2000-07-01

Based on consulting service RPS-J under joint operation of Nikki, UOP LLC of U.S.A. and Nikki Universal, approaching ways applied for profitability improvement and improvement proposal for refineries and analyzing techniques used for resolution of process bottlenecks were described. In RPS-J, themes of (1) energy saving, (2) quality upgrading, (3) improvement of disintegrating ratio, (4) reduction of give-away, (5) improvement of equipment operation ratio, (6) reduction of maintenance cost, (7) effective utilization of catalysts, are considered for profitability improvement fields. Procedures from idea excavation for profitability improvement to realization of profitability improvement are carried out in the order of, (1) Grasping of the present state, (2) Excavation of improving items and selection, (3) Quantitative evaluation of draft profitability improvement plan and focusing, (4) Profitability improvement by operation improvement, (5) Profitability improvement by minor improvement, (6) Profitability improvement in middle- and long-term vision, (7) Final focusing by feasibility study. Afterwards, examination to economically solve bottlenecks of critical facilities, examination on bottlenecks of distillation tower and refining tower and utility analysis are carried out. RPS-J was already applied to 4 refineries including Muroran Refinery and Negishi Refinery of Nisseki Mitsubishi, and profitability improvement themes were found to improve profitability of 50 to 150 cents per barrel. (NEDO)

Strategies and techniques of communication and public relations applied to non-profit sector

Directory of Open Access Journals (Sweden)

Ioana – Julieta Josan

2010-05-01

Full Text Available The aim of this paper is to summarize the strategies and techniques of communication and public relations applied to non-profit sector.The approach of the paper is to identify the most appropriate strategies and techniques that non-profit sector can use to accomplish its objectives, to highlight specific differences between the strategies and techniques of the profit and non-profit sectors and to identify potential communication and public relations actions in order to increase visibility among target audience, create brand awareness and to change into positive brand sentiment the target perception about the non-profit sector.

48 CFR 915.404-4 - Profit.

Science.gov (United States)

2010-10-01

... TYPES CONTRACTING BY NEGOTIATION Contract Pricing 915.404-4 Profit. (c)(4)(i) Contracting officer...) and Bonneville Power Administration (BPA) functions. Pursuant to section 602(d) (13) and (20) of the...

Social media for non-profit organizations in Vietnam

OpenAIRE

Nguyen, Thy

2016-01-01

The thesis presents about social media in general and social media for non-profit organizations in Vietnam in particular. The writer wanted to explore the disadvantages that non-profits in Vietnam face when using social media and search for recommendations which helps them to use it more efficiently. In the theoretic part, core concepts related to social media were introduced, namely, definition of social media, its types, the popular platforms, situation of social media in Vietnam, pros...

PROFITABILITY RATIO AS A TOOL FOR BANKRUPTCY PREDICTION

OpenAIRE

Daniel BRÎNDESCU – OLARIU

2016-01-01

The current study evaluates the potential of the profitability ratio in predicting corporate bankruptcy. The research is focused on Romanian companies, with the targeted event being represented by the manifestation of bankruptcy 2 years after the date of the financial statements of reference. All tests were conducted over 2 paired samples of 1176 Romanian companies. The methodology employed in evaluating the potential of the profitability ratio was based on the Area Under the ROC Curve (0.663...

Portfolio management fees: assets or profits based compensation?

OpenAIRE

Gil-Bazo, Javier

2001-01-01

This paper compares assets-based portfolio management fees to profits-based fees. Whilst both forms of compensation can provide appropriate risk incentives, fund managers' limited liability induces more excess risk-taking under a profits-based fee contract. On the other hand, an assets-based fee is more costly to investors. In Spain, where the law explicitly permits both forms of retribution, assets-based fees are observed far more frequently. Under this type of compensation, the paper provid...

Transfer Pricing Profit Split Methods : A Practical Solution?

OpenAIRE

Quttineh, Yousef

2009-01-01

The purpose of this master’s thesis is to explain and analyze whether today’s existing regulations provide sufficient guidance on how to apply the Profit Split Method (PSM) in practice. Since the enterprises’ profits arising from intra-group transactions increases, the tax base for any government also becomes larger and more important. This issue will likely become even more problematic as the globalization branches out and the majority of the global trade is undertaken between associated ent...

The impact of microcredit on self-employment profits in Vietnam

NARCIS (Netherlands)

Lensink, Robert; Thi Thu Tra Pham, [No Value

2012-01-01

This study examines the impact of microcredit on household self-employment profits in Vietnam. For two indicators of credit participation a dichotomous participation dummy and the accumulated amount of microcredit received per household the analysis reveals a positive effect on household profits.

Financial Liberalisation And Determinants of Profitability of Commercial Banks in India

OpenAIRE

Naidu, V.Nagarajan; Nair, Manju S

2014-01-01

Financial liberalisation efforts since 1991 have made perceptible impacts on the profitability of commercial banks in India with varying levels between public and private sectors. One of the objectives of the reform measures is to influence and change in the trends of determinants of profitability of banks towards the attainment of higher levels of profit. The regulated credit flow region wise and sector wise, restriction on the use pattern of deposit mobilised, prudential accountancy nor...

RELATIONSHIP BETWEEN WORKING CAPITAL MANAGEMENT AND PROFITABILITY IN BRAZILIAN LISTED COMPANIES

OpenAIRE

Prof. Dr. Hong Yuh Ching; Prof. MSc. Ayrton Novazzi; Prof. Dr. Fábio Gerab

2011-01-01

To overcome competition in a very complex environment, few companies have been able to use the optimization of working capital as a real competitive advantage to leverage profit. The objectives of this article are twofold: a) to investigate if there is any difference between corporate profitability and working capital management in two separate groups of companies: working capital intensive and fixed capital intensive; b) to identify the variables that most affect profitability. The profitabi...

Increasing Cropping System Diversity Balances Productivity, Profitability and Environmental Health

Science.gov (United States)

Davis, Adam S.; Hill, Jason D.; Chase, Craig A.; Johanns, Ann M.; Liebman, Matt

2012-01-01

Balancing productivity, profitability, and environmental health is a key challenge for agricultural sustainability. Most crop production systems in the United States are characterized by low species and management diversity, high use of fossil energy and agrichemicals, and large negative impacts on the environment. We hypothesized that cropping system diversification would promote ecosystem services that would supplement, and eventually displace, synthetic external inputs used to maintain crop productivity. To test this, we conducted a field study from 2003–2011 in Iowa that included three contrasting systems varying in length of crop sequence and inputs. We compared a conventionally managed 2-yr rotation (maize-soybean) that received fertilizers and herbicides at rates comparable to those used on nearby farms with two more diverse cropping systems: a 3-yr rotation (maize-soybean-small grain + red clover) and a 4-yr rotation (maize-soybean-small grain + alfalfa-alfalfa) managed with lower synthetic N fertilizer and herbicide inputs and periodic applications of cattle manure. Grain yields, mass of harvested products, and profit in the more diverse systems were similar to, or greater than, those in the conventional system, despite reductions of agrichemical inputs. Weeds were suppressed effectively in all systems, but freshwater toxicity of the more diverse systems was two orders of magnitude lower than in the conventional system. Results of our study indicate that more diverse cropping systems can use small amounts of synthetic agrichemical inputs as powerful tools with which to tune, rather than drive, agroecosystem performance, while meeting or exceeding the performance of less diverse systems. PMID:23071739