WorldWideScience

Sample records for nonpartisan independently funded

  1. An independent review of NCCAM-funded studies of chiropractic.

    Science.gov (United States)

    Ernst, Edzard; Posadzki, Paul

    2011-05-01

    To promote an independent and critical evaluation of 11 randomised clinical trials (RCTs) of chiropractic funded by the National Centre for Complementary and Alternative Medicine (NCCAM). Electronic searches were conducted to identify all relevant RCTs. Key data were extracted and the risk of bias of each study was determined. Ten RCTs were included, mostly related to chiropractic spinal manipulation for musculoskeletal problems. Their quality was frequently questionable. Several RCTs failed to report adverse effects and the majority was not described in sufficient detail to allow replication. The criticism repeatedly aimed at NCCAM seems justified, as far as their RCTs of chiropractic is concerned. It seems questionable whether such research is worthwhile.

  2. Independent Review of the DFAS FY 2012 Working Capital Fund Financial Statement Audit

    Science.gov (United States)

    2015-03-12

    Independent Review of the DFAS FY 2012 Working Capital Fund Financial Statement Audit M A R C H 1 2 , 2 0 1 5 Report No. DODIG‑2015‑091 Report...REPORT TYPE 3. DATES COVERED 00-00-2015 to 00-00-2015 4. TITLE AND SUBTITLE Independent Review of the DFAS FY 2012 Working Capital Fund Financial...Independent Review of the DFAS FY 2012 Working Capital Fund Financial Statement Audit (Report No: DODIG‑2015‑091) We are providing this report for your

  3. JAMA Published Fewer Industry-Funded Studies after Introducing a Requirement for Independent Statistical Analysis

    Science.gov (United States)

    Wager, Elizabeth; Mhaskar, Rahul; Warburton, Stephanie; Djulbegovic, Benjamin

    2010-01-01

    Background JAMA introduced a requirement for independent statistical analysis for industry-funded trials in July 2005. We wanted to see whether this policy affected the number of industry-funded trials published by JAMA. Methods and Findings We undertook a retrospective, before-and-after study of published papers. Two investigators independently extracted data from all issues of JAMA published between 1 July 2002 and 30 June 2008 (i.e., three years before and after the policy). They were not blinded to publication date. The randomized controlled trials (RCTs) were classified as industry funded (IF), joint industry/non-commercial funding (J), industry supported (IS) (when manufacturers provided materials only), non-commercial (N) or funding not stated (NS). Findings were compared and discrepancies resolved by discussion or further analysis of the reports. RCTs published in The Lancet and NEJM over the same period were used as a control group. Between July 2002 and July 2008, JAMA published 1,314 papers, of which 311 were RCTs. The number of industry studies (IF, J or IS) fell significantly after the policy (p = 0.02) especially for categories J and IS. However, over the same period, the number of industry studies rose in both The Lancet and NEJM. Conclusions After the requirement for independent statistical analysis for industry-funded studies, JAMA published significantly fewer RCTs and significantly fewer industry-funded RCTs. This pattern was not seen in the control journals. This suggests the JAMA policy affected the number of submissions, the acceptance rate, or both. Without analysing the submissions, we cannot check these hypotheses but, assuming the number of published papers is related to the number submitted, our findings suggest that JAMA's policy may have resulted in a significant reduction in the number of industry-sponsored trials it received and published. PMID:21042585

  4. JAMA published fewer industry-funded studies after introducing a requirement for independent statistical analysis.

    Directory of Open Access Journals (Sweden)

    Elizabeth Wager

    Full Text Available BACKGROUND: JAMA introduced a requirement for independent statistical analysis for industry-funded trials in July 2005. We wanted to see whether this policy affected the number of industry-funded trials published by JAMA. METHODS AND FINDINGS: We undertook a retrospective, before-and-after study of published papers. Two investigators independently extracted data from all issues of JAMA published between 1 July 2002 and 30 June 2008 (i.e., three years before and after the policy. They were not blinded to publication date. The randomized controlled trials (RCTs were classified as industry funded (IF, joint industry/non-commercial funding (J, industry supported (IS (when manufacturers provided materials only, non-commercial (N or funding not stated (NS. Findings were compared and discrepancies resolved by discussion or further analysis of the reports. RCTs published in The Lancet and NEJM over the same period were used as a control group. Between July 2002 and July 2008, JAMA published 1,314 papers, of which 311 were RCTs. The number of industry studies (IF, J or IS fell significantly after the policy (p = 0.02 especially for categories J and IS. However, over the same period, the number of industry studies rose in both The Lancet and NEJM. CONCLUSIONS: After the requirement for independent statistical analysis for industry-funded studies, JAMA published significantly fewer RCTs and significantly fewer industry-funded RCTs. This pattern was not seen in the control journals. This suggests the JAMA policy affected the number of submissions, the acceptance rate, or both. Without analysing the submissions, we cannot check these hypotheses but, assuming the number of published papers is related to the number submitted, our findings suggest that JAMA's policy may have resulted in a significant reduction in the number of industry-sponsored trials it received and published.

  5. Danish independent film, or how to make films without public funding

    DEFF Research Database (Denmark)

    Hansen, Kim Toft

    Studying independent film in Denmark is a new and interesting way to analyse power relations in Danish film productions. The sheer magnitude of Danish indiefilms is in itself a very convincing voice to be heard. Throughout the past almost two decades we have seen a developing challenge to the typ......Studying independent film in Denmark is a new and interesting way to analyse power relations in Danish film productions. The sheer magnitude of Danish indiefilms is in itself a very convincing voice to be heard. Throughout the past almost two decades we have seen a developing challenge...... to the typical way of producing a film in Denmark. Small production companies shoot up everywhere. Some of them are very critical of the public Danish film funding system, while others attempt to build a career as a Danish film producer. One key inspiration for many of the directors in – what has now become...... production. This DIY-culture has very much provided Danish film subcultures with a bible and an idol to look up to....

  6. Physician-scientists in obstetrics and gynecology: predictors of success in obtaining independent research funding.

    Science.gov (United States)

    Okeigwe, Ijeoma; Wang, Cynthia; Politch, Joseph A; Heffner, Linda J; Kuohung, Wendy

    2017-07-01

    Obstetrics and gynecology departments receive the smallest amount of National Institutes of Health research funding and have significantly lower application success rates compared to pediatric, internal medicine, and surgery departments. The development of mentored early career development training grants (K awards) has been one strategy implemented by the National Institutes of Health to help aspiring physician-scientists establish independent research careers. The purpose of this study is to describe the cohort of obstetrics and gynecology physician-scientists who were K08, K12, and K23 recipients from 1988 through 2015 and to identify predictors of success in obtaining independent federal funding, as defined by acquisition of an R01, R21, R34, U01, U54, P01, or P50 award. We hypothesized that sex, subspecialty, type of K award, and dual MD/PhD would impact success rates. K08, K12, and K23 recipients from 1988 through 2015 were identified from the National Institutes of Health Research Portfolio Online Reporting Tools, the office of the National Institutes of Health Freedom of Information Act, and the website of the Reproductive Scientist Development Program. Data were stratified by sex, educational degree, subspecialty, and type of K award. Data were analyzed using the Pearson χ(2) and Fisher exact tests. The Kaplan-Meier estimator was used to determine rates of conversion to independent funding over time. A total of 388 K recipients were identified. Women accounted for 66% of K awards while men accounted for 34%. Among K recipients, 82% were MDs, while 18% were MD/PhDs. K12 awards accounted for 82% of all K awards, while K08 and K23 awards accounted for 10% and 8%, respectively. Subspecialists in maternal-fetal medicine and reproductive endocrinology and infertility received the highest proportion of K awards, followed by generalists and gynecologic oncologists. Altogether, the 3 subspecialty groups accounted for 68% of all K awards. R01 awards made up the

  7. Report: Nevada Drinking Water State Revolving Fund Financial Statements with Independent Auditor's Report

    Science.gov (United States)

    Examination of the balance sheet of the Nevada Drinking Water State Revolving Fund Program as of June 30, 2001, the related statement of revenues, expenses, and changes in retained earnings, and the statement of 2001 cash flows.

  8. Funding, Funding

    Science.gov (United States)

    Altman, Micah

    2009-01-01

    I show herein how to develop fundable proposals to support your research. Although the proposal strategy I discuss is commonly used in successful proposals, most junior faculty (and many senior scholars) in political science and other social sciences seem to be unaware of it. I dispel myths about funding, and discuss how to find funders and target…

  9. Report: State of Utah Drinking Water State Revolving Fund Financial Statements with Independent Auditor’s Report, June 30, 2002

    Science.gov (United States)

    Report #2003-1-00110, June 3, 2003.Audit of the net assets statement of the Utah Dept of Env Quality Drinking Water State Revolving Fund Prog as of June 30, 2002, and the statements of revenues, expenses and changes in fund net assets, and 2002 cash flows.

  10. Report: State of Washington Water Pollution Control State Revolving Fund Financial Statements with Independent Auditor's Report, June 30, 2003

    Science.gov (United States)

    Report #2004-1-00067, May 26, 2004. The financial statements referred to in the first paragraph present fairly the financial position of the Washington Department of Ecology Water Pollution Control State Revolving Fund as of June 30, 2003.

  11. Report: South Carolina Drinking Water State Revolving Fund Program Financial Statements with Independent Auditor’s Report, June 30, 2002

    Science.gov (United States)

    Report #2003-1-00138, September 17, 2003. We have audited the balance sheet of the SCDWSRF Program as of June 30, 2002, the related statement of revenues, expenses, and changes in fund equity, and the statement of cash flows for the year then ended.

  12. Danish mutual fund performance

    DEFF Research Database (Denmark)

    Christensen, Michael

    2013-01-01

    This article provides the first independent performance analysis of Danish mutual funds. We analyse selectivity and market timing abilities for 71 mutual funds that have been in operation from 2001 to 2010. The results show great fund performance diversity. Half the funds have performed neutrally......, whereas 42% of the funds have shown significantly negative performance and only 7% of the funds have over-performed their benchmark. Furthermore, 14% of the funds analysed possess market timing abilities, but for 8 out of 10 funds, their market timing ability has been unsuccessful....

  13. Independent Auditors Report on the Air Force General Fund FY 2015 and FY 2014 Basic Financial Statements for United States Air Force Agency Financial Report 2015

    Science.gov (United States)

    2015-11-09

    reporting were operating effectively, with the exception of 11 General Fund and 8 Working Capital Fund material weaknesses and 2 significant...Position The General Fund continued to report a positive net position on its Consolidated Balance Sheet. Net position is the difference between total...Financial Report Management Discussion and Analysis 18 General Fund Total Liabilities, FY 2015 ($ in Billions) $8.4 $8.7 $5.5 $1.1 Environmental

  14. DCB Funding

    Science.gov (United States)

    The Division of Cancer Biology (DCB) funds and supports extramural basic research that investigates the fundamental biology behind cancer. Find out more about DCB's grants process and funding opportunities.

  15. Understaning the "funding effect"

    Science.gov (United States)

    Oreskes, N.

    2016-12-01

    There is a long history of industry funding of scientific and engineering research in the USA. Much of this work has been of high quality. Research demonstrates, however, that corporate funding can represent a threat to scientific independence and integrity. Studies show that sponsors' interests can affect research results, particularly when sponsors have a strong interest in a particular research outcome. The effects may occur through the impact of subconscious bias on sampling, study design, data interpretation, and/or reporting of results. Corporate funding can also skew research toward investigating certain questions at the expense of others, downplaying the significance of adverse findings, and/or failing to report adverse results. Gifts can affect behavior, even when they are unrelated to research activities. These impacts that are so substantial that they have a name: "the funding effect."[i] Evidence shows that scientists who strive to be objective and fair-minded may nonetheless fall prey to the funding effect. In many cases, the challenges of corporate gifts and funding can be addressed through education and improved self-awareness, agreements that protect researchers' freedom to publish without sponsor approval, sensible disclosure policies, and reasonable sanctions for failures of disclosure. However, in some cases, it may be appropriate for researchers and scientific societies to decline funding.

  16. PENSION FUND

    CERN Multimedia

    2007-01-01

    The 2006 Annual Report of the Pension Fund, which was approved by Council at its session of 22 June 2007, is now available from Departmental secretariats. Pension beneficiaries who wish to obtain this document should contact the Administration of the Fund (tel. 004122 767 9194/8798), bldg 5, 1-030.

  17. Pension fund

    CERN Multimedia

    2006-01-01

    The 2005 Annual Report of the Pension Fund, which was approved by Council at its session of 23 June 2006, is now available from Departmental secretariats. Pension beneficiaries who wish to obtain this document should contact the Administration of the Fund (tel. 00 41 22 767 91 94), bldg 5, 1-030.

  18. PENSION FUND

    CERN Multimedia

    2007-01-01

    The 2006 Annual Report of the Pension Fund, which was approved by Council at its Session of 22 June 2007, is now available from Departmental secretariats. Pension beneficiaries who wish to obtain this document should contact the Administration of the Fund (tel. 004122 767 9194/8798), Bldg 5, 1-030.

  19. Pension Fund

    CERN Multimedia

    2005-01-01

    The 2004 Annual Report of the Pension Fund, which was approved by Council at its session of 17 June 2004, will be available as of beginning of July from Department secretariats. Pension beneficiaries who wish to obtain this document should contact the Administration of the Fund (tel. 004122 767 9194), bldg 5, 1-030.

  20. Pension Fund

    CERN Multimedia

    HR Department

    2009-01-01

    In line with the decisions concerning the new governance of the Pension Fund taken by the Council in June and September 2007, amendments to Section 2 "Structure and Functions" of the Rules of the Fund (Article I 2.08 – Composition of the Investment Committee and Article I 2.08b – Chairman of the Investment Committee) entered into force on 1st January 2009. These articles replace the provisions of the existing Regulations of the Investment Committee of the Pension Fund relating to the composition and chairman of the Investment Committee. Amendment No. 27 (PDF document) may be downloaded directly from the Pension Fund website: http://pensions.web.cern.ch/Pensions/statuts___rules.htm or obtained from the Administration of the Fund (Tel. 022 7672742, mailto:Barbara.Bordjah@cern.ch).

  1. Pension Fund

    CERN Multimedia

    2005-01-01

    Amendment No 21 to the Rules and Regulations of the Pension Fund has just been published and can be obtained from Department/Unit secretariats or, in the case of pensioners, directly from the Administration of the Fund (tel. 767-91 94/27 38), bldg 5, 1-030. This Amendment, which entered into force on 17.03.2005, concerns Article I 2.05 (Composition of the Governing Board) and Article I 2.06 (Chairman and Vice-Chairmen of the Governing Board) of the Rules of the Pension Fund.

  2. An Analysis of An Independent Review of High Education Funding & Student Finance%《英国高校经费独立调查报告》内容及影响分析

    Institute of Scientific and Technical Information of China (English)

    秦莉

    2012-01-01

    英国高校经费独立调查是英国政府为促进高等教育和科技的持续稳定发展委托进行的调查,是多党派共同支持的结果。调查生成的《英国高校经费独立调查报告》对英国高等教育经费问题以及高等教育质量问题提出了建议和指导方案。详细介绍了《英国高校经费独立调查报告》的产生背景与重要内容,分析了其对英国高等教育以及英国社会产生的各个方面的现实影响。%The survey of High Education Funding Student Finance was commissioned by the UK government to promote the sustainable development of higher education and technology.The survey was a result of multi-party support.Securing a Sustainable Future for Higher Education-An Independent Review of High Education Funding Student Finance gave suggestions and guided plans for the UK higher education issues.This thesis introduced the background and the important part of the report,analyzed its influence on higher education as well as the practical influence on many aspects of the society.

  3. Pension Fund

    CERN Multimedia

    HR Department

    2007-01-01

    In line with the decisions taken by the Council in June and September 2007 concerning the new governance of the Pension Fund, amendments to Section 2 (Structure and Functions) of the Rules of the Fund entered into force on 1st November 2007 (Article I 2.05 – Composition of the Governing Board and Article I 2.06 – Chairman and Vice-Chairman of the Governing Board). The Rules, updated to include all the amendments introduced since 1st January 2007, may be downloaded in A4 format (PDF document) directly from the Pension Fund website or obtained from the Administration of the Fund (Tel. 022 767 2742, Sophia.Revol@cern.ch).

  4. Funding innovation

    CERN Multimedia

    Marina Giampietro

    2012-01-01

    For the first time, six knowledge and technology transfer activities are set to benefit from a dedicated fund made available by the Knowledge Transfer group. This initiative cements CERN’s commitment to sharing its technological knowledge and expertise with society.   GEM detectors for flame detection and early earthquake prediction, radio-frequency absorbers for energy recovery, and exotic radioisotopes for medical applications are among the projects funded by the recently introduced KT Fund. “CERN’s scientific programme generates a considerable amount of intellectual property, a natural driver for innovation,” explains Giovanni Anelli, Head of the Knowledge Transfer Group. “Very often, though, financial support is needed to bring the newly-born technologies a step further and make them ready for transfer to other research institutes or to companies.” This is where the KT fund comes into play. It provides vital support in the early sta...

  5. Pension Fund

    CERN Multimedia

    HR Department

    2009-01-01

    In line with the decisions taken by the Council in June and September 2007 concerning the new governance of the Pension Fund, amendments to Section 2 «Structure and Functions» of the Rules of the Fund entered into force on 1st January 2009 (Article I 2.08 – Composition of the Investment Committee and Article I 2.08bis – Chairman of the Investment Committee). Amendment n°27 may be downloaded (PDF document) directly from the Pension Fund website: http://pensions.web.cern.ch/Pensions/statuts___rules.htm or obtained from the Administration of the Fund (Tel. 022 767 2742, mailto:Barbara.Bordjah@cern.ch).

  6. Pension Fund

    CERN Multimedia

    2006-01-01

    As announced in the Bulletin during the summer, the Pension Fund has published a complete new version of the Fund's Rules and Regulations incorporating all amendments up to 1 November 2006, following the decisions of the CERN Council. This new version of the Rules and Regulations can be downloaded in A4 format (pdf document) directly from the Pension Fund's website (http://pensions.web.cern.ch/Pensions/statuts___rules.htm for the Rules and http://pensions.web.cern.ch/Pensions/règlements___regulations.htm for the Regulations) or obtained from the Fund Administration (Tel. 022 767 27 42, Building 5, 1-030, or by e-mail Sophia.Revol@cern.ch).

  7. PENSION FUND

    CERN Document Server

    2001-01-01

    Amendment No 17 to the Rules and Regulations of the Pension Fund relating to the technical adjustment of the coefficients C made necessary by the integration of the members of the CERN personnel into the new career structure on 1.9.2001 can be obtained from Divisional secretariats or, in the case of pensioners, directly from the Administration of the Fund (tel. 767-91 94/27 38), bldg 5, 1-030.

  8. Pension Fund

    CERN Multimedia

    HR Department

    2008-01-01

    The 2007 Annual Report and Accounts of the Pension Fund which was approved by Council at its session of 20 June 2008, is now available from the Departmental secretariats. Pension beneficiaries who wish to obtain this document should contact Emilie Clerc (Tel. + 41 22 767 87 98), building 5-5/017. It is also available on the Pension fund site: http://pensions.web.cern.ch/Pensions/

  9. Pension Fund

    CERN Multimedia

    HR Department

    2008-01-01

    The 2007 Annual Report and Accounts of the Pension Fund which was approved by Council at its session of 20 June 2008, is now available from the Departmental secretariats. Pension beneficiaries who wish to obtain this document should contact Emilie Clerc (Tel. + 41 22 767 87 98), building 5-5/017. It is also available on the Pension fund site: http://pensions.web.cern.ch/Pensions/

  10. Pension Fund

    CERN Multimedia

    2004-01-01

    Amendment No 20 to the Rules and Regulations of the Pension Fund has just been published and can be obtained from Department/Unit secretariats or, in the case of pensioners, directly from the Administration of the Fund (tel. 767-91 94/27 38), bldg 5, 1-030. This Amendment, which entered into force on 1.1.2004, concerns the fixed sums and allowances adjusted at same date (Annex B).

  11. Pension Fund

    CERN Multimedia

    HR Department

    2008-01-01

    The Pension Fund Governing Board (PFGB) held two meetings over the summer, the first on 9 June and the second on 1st September. The agendas of the two meetings had several items in common, including progress reports on the work of the four working groups. Group 1, which is responsible for the revision of Chapter I, Section 2 of the Rules of the Fund, has made good progress but will need more time to complete its terms of reference in view of the number and complexity of the articles to be amended. In parallel, the Group has approved a code of conduct for the Pension Fund, which is based, in particular, on the new charter introduced for Swiss pension funds by the Swiss Association of Provident Institutions (ASIP) and the CFA (Chartered Financial Analyst) code of ethics applicable to members of pension fund bodies. The PFGB took note that the Group had also been working on the rules relating to the status of the personnel of the Fund and the composition of the Investment Committee. The work of Group 2, responsi...

  12. Pension fund

    CERN Multimedia

    2006-01-01

    At its June 2006 meeting, the Finance Committee approved the following amendment to Article 6a of the Regulations for elections to the Governing Board of the Pension Fund, which will enter into force on 1.7.2006: Current text New text ... 6a. The Administrator of the Fund shall be responsible for holding the elections and for issuing all relevant information. ... ... 6a. The Administrator of the Fund shall be responsible for holding the elections by electronic voting or, if this method cannot be used, following the procedure outlined in Articles 6i., 6j. and 6k. below. He shall issue to the members of the Pension Fund all relevant information concerning the elections. The deadlines mentioned in paragraphs 6i. and 6j. below shall apply mutatis mutandis to electronic voting. ... The amendment will allow the Pension Fund to use an electronic voting procedure for the election of elected members to the Governing Board of the Fund. It will be included in a complete new edition of the Rules and Regulatio...

  13. Pension Fund

    CERN Multimedia

    HR Department

    2008-01-01

    The PFGB held two meetings over the summer, the first on 9 June and the second on 1st September. The agendas of the two meetings had several items in common, including progress reports on the work of the four working groups. Group 1, which is responsible for the revision of Chapter I, Section 2 of the Rules of the Fund, has made good progress but will need more time to complete its terms of reference in view of the number and complexity of the articles to be amended. In parallel, the Group has approved a code of conduct for the Pension Fund, which is based, in particular, on the new charter introduced for Swiss pension funds by the Swiss Association of Provident Institutions (ASIP) and the CFA (Chartered Financial Analyst) code of ethics applicable to members of pension fund bodies. The PFGB took note that the Group had also been working on the rules relating to the status of the personnel of the Fund and the composition of the Investment Committee. The work of Group 2, resp...

  14. PENSION FUND

    CERN Multimedia

    1999-01-01

    The Governing Board of the Pension Fund held its first three meetings of the year on 2 February, 2 March and 13 April.At the first of these meetings the Board first heard a presentation by Mrs H. Richmond of JP Morgan on the results of the currency overlay programme applied to the Fund's assets. Thanks to the policy pursued by this company, volatility, i.e. portfolio risk for assets denominated in currencies other than the Swiss franc, has been reduced. However, despite the fact that JP Morgan has considerable expertise in this field, no gain has been achieved over the past year. The Governing Board heard a report by the Investment Committee Chairman G. Maurin on the meetings of 21-22 and 28 January at which the Pension Fund's various fund managers had been interviewed on their results. Decisions were taken on benchmarks aimed at optimising management and on the terms of reference of the Internal Management Unit. It was also decided to place two fund managers on a watching list and to request them to make eve...

  15. Pension Fund

    CERN Multimedia

    2003-01-01

    All members and beneficiaries of the Pension Fund are invited to attend the Annual General Asssembly to be held in the CERN Auditorium on Wednesday 8 October 2003 at 14.30 hrs The Agenda comprises: 1. Opening RemarksJ. Bezemer 2. Annual Report 2002: Presentation and results Copies of the Report are available from divisional secretariats. C. Cuénoud 3. Overview of the present situation with regard to pension funds C. Cuénoud 4. Performance of the Fund since the year 2000 and aspects of the ongoing asset/liability modelling exercise G. Maurin 5. Questions from members and beneficiariesPersons wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to Mr C. Cuénoud, Administrator of the Fund. 6. Conclusions J. Bezemer As usual, participants are invited to drinks after the assembly. NB The minutes of the 2002 General Assembly are available from the Administration of the Fund tel.(+4122)767 27 42; e-mail Sophia.Revol@cern.ch)

  16. Pension Fund

    CERN Multimedia

    2003-01-01

    Amendment No 19 to the Rules and Regulations of the Pension Fund has just been published and can be obtained from Divisional secretariats or, in the case of pensioners, directly from the Administration of the Fund (tel. 767-91 94/27 38), bldg 5, 1-030. This Amendment, which entered into force on 1.1.2003, concerns 1) the fixed sums and allowances adjusted at same date (Annex B) and 2) the articles which have been amended, in accordance with the Finance Committee's decision, regarding voting rules of the Governing Board and the role and composition of the Investment Committee.

  17. PENSION FUND

    CERN Multimedia

    2002-01-01

    The Governing Board of the Pension Fund held its 104th and 105th meetings on 8th November and 4th December 2001, respectively. The agenda of the 8th November meeting was devoted to a single item, namely the outcome of the Finance Committee's meeting the previous day. The Governing Board noted with satisfaction that both its proposed amendments to the Rules and Regulations of the Fund - allowing, in particular, the award of a deferred retirement pension after five years of service - and its proposal for the adjustment of pensions on 1.1.2002 had been approved for recommendation to the Council in December. At its meeting on 4th December, the Governing Board dealt mainly with the items examined at the latest meeting of the Investment Committee. The Committee's chairman, G. Maurin, stated that the 2001 return on the Fund's overall investments was likely to be between -2% and -3%. He also noted that a new study of the Fund's cash flows (incomings and outgoings) had been performed. He underlined that, while the flo...

  18. Mutual Funds.

    Science.gov (United States)

    Dessoff, Alan L.

    1993-01-01

    There is good reason for college fund raisers and business officers to collaborate on common financial interests. Communication is a key element of such cooperation. Other needs include agreement on accounting and reporting of institutional finances, agreement on stewardship of gifts (particularly with restrictions or endowments), and common…

  19. Pension Fund

    CERN Multimedia

    2006-01-01

    Following the approval by the CERN Council, at its Session in March 2006, of the amendments to Administrative Circular No. 14 (Protection of the members of the personnel against the financial consequences of illness, accident and disability) and the resulting amendments to the Rules and Regulations of the Pension Fund, which entered into force on 1st July 2006, the Administration of the Fund has decided to publish a complete new edition of the Rules and Regulations incorporating all amendments up to 1st July 2006. Members of the Fund will be informed once the new edition of the Rules and Regulations is available from Departmental secretariats. In the meantime, the amendments to the text of the Pension Fund Rules and Regulations, which entered into force on 1st July 2006, are presented below (Previous text/Amended text) : Chapter II - Section 1: Contributions and benefits Article II 1.04 - Reference Salary - Part-time Work OLD TEXT: the reference salary of a member with a contract for part-time work shall be e...

  20. Pension Fund

    CERN Document Server

    2006-01-01

    Following the approval by the CERN Council, at its Session in March 2006, of the amendments to Administrative Circular No. 14 (Protection of the members of the personnel against the financial consequences of illness, accident and disability) and the resulting amendments to the Rules and Regulations of the Pension Fund, which entered into force on 1st July 2006, the Administration of the Fund has decided to publish a complete new edition of the Rules and Regulations incorporating all amendments up to 1st July 2006. Members of the Fund will be informed once the new edition of the Rules and Regulations is available from Departmental secretariats.In the meantime, the amendments to the text of the Pension Fund Rules and Regulations, which entered into force on 1st July 2006, are presented below (Previous text/Amended text): Chapter II - Section 1: Contributions and benefits Article II 1.04 - Reference Salary - Part-time Work OLD TEXT: The reference salary of a member with a contract for part-time work shall b...

  1. 新疆某独立学院对经济困难学生的资助管理%Funding management of students with economic difficulties by an independent college of Xinjiang

    Institute of Scientific and Technical Information of China (English)

    王丽; 何桂香

    2011-01-01

    Objective To explore the scientific and effective management of subsidization for students in poverty and to build a rational, scientific-supporting system of poor students. Methods Analyzing the data of the poverty status and funding, of poor students in 2006-2009 in an independent Institute Results Among all the means of subsidization for students in poverty, study aid covers most and the number of students who get this aid is increasing while there are fewer national scholarships and living subsidies. Conclusion Supporting system of poor students is not perfect enough, and institutions of higher learning should find the practical way to help our poor students complete their studies successfully.%目的 探讨科学、有效的贫困生资助管理办法,构建合理、科学的贫困生资助体系。方法 根据新疆某独立学院2006-2009年的贫困生现状和资助情况,分析相关数据。结果 在各种贫困生资助方式中,助学金的资助范围最广,资助人数最多,且每年的人数在增加;国家级奖学金和临时生活补助资助效果有限。结论 贫困生资助体系还不够完善,高校应结合自身实际情况提出切实可行的管理办法,帮助贫困生顺利完成学业。

  2. PENSION FUND

    CERN Multimedia

    2002-01-01

    Amendment No 18 to the Rules and Regulations of the Pension Fund has just been published and can be obtained from Divisional secretariats or, in the case of pensioners, directly from the Administration of the Fund (tel. 767-91 94/27 38), bldg 5, 1-030. This Amendment, which entered into force on 1.1.2002, concerns the articles which have been amended, in accordance with the Council's decision, to allow the award of a deferred retirement pension after five years of service (instead of ten previously) and the fixed sums and allowances adjusted at the same date (Annex B). It also contains a revised version of the table of contents of the Rules, as well as pages where the contents have not changed but where the page layout has had to be adjusted for technical reasons.

  3. Pension Fund

    CERN Multimedia

    Pension Fund

    2006-01-01

    Amendment No. 22 to the Rules and Regulations of the Pension Fund has just been published and can be obtained from Department/Unit secretariats or, in the case of pensioners, directly from the Administration of the Fund (tel. 767-91 94/27 38), bldg 5, 1-030. This Amendment, which entered into force following the CERN Council's decisions of 16 December 2005, includes the following new articles: Art. II 5.08 : Non-entitlement to Pension for Surviving Spouse Art. II 5.09 : Procurement of an entitlement to Pension for Surviving Spouse Art. II 6.09 : Non-entitlement to Pension for Orphans Art. II 7.01 c) : Entitlement to Allowances Art. III 1.07 : Extension of the contract beyond the age limit of 65 as well as the following amended articles : Article II 1.07 - Contributions Annex B - Fixed sums and allowances

  4. Pension Fund

    CERN Multimedia

    2003-01-01

    The Governing Board of the Pension Fund held its hundred and seventeenth meeting on 3 June 2003. On that occasion, it examined the recommendations made by the External Auditors in their report on their audit of the 2002 annual accounts and the replies by the Pension Fund's Administration. The Governing Board was gratified by the small number of remarks by the External Auditors. It also confirmed its agreement to the procedure followed by the Administration of the Pension Fund in the handling of transfer values. Under other items on the agenda, the Board once again examined ESO's request relating to the terms and conditions of membership by its staff members. In this regard, the Board wishes to receive from ESO a definitive request (following the necessary consultation procedures with the representatives of the personnel and discussions within ESO's governing bodies) so that the working group can continue its work on a clear basis and so that the Governing Board is in a position to take up a position in the m...

  5. PENSION FUND

    CERN Multimedia

    Administration of the Fund

    2001-01-01

    The Administration of the Fund has just signed a contract with the 'La Suisse' insurance company, making life insurance available to persons leaving CERN under very similar conditions to those offered to the members of the CERN personnel. From now on, persons retiring from the Organization will be able to take out this new insurance at the moment of retirement, provided that they have been members of CERN's collective life insurance scheme for the last five years of service. Exceptionally, until the end of 2001, 'La Suisse' has agreed to allow persons who are already retired to take out this insurance, subject to their state of health (health questionnaire to be completed) and with a maximum insured amount set at 150,000 CHF. We therefore invite any retired persons interested in this insurance to consult the detailed terms and conditions, either on the Pension Fund's Web site (http://pensions.web.cern.ch/pensions) or by writing to the Administration of the Fund. For those wishing to apply, the documents to be...

  6. Pension Fund

    CERN Document Server

    2004-01-01

    The Governing Board of the Pension Fund held its one-hundred-and-twenty-second meeting on 3 February 2004. Opening the meeting, the Chairman, J. Bezemer, welcomed W. Zapf's alternate T. Lagrange, A. Naudi's alternate P. Geeraert, and M. Goossens' alternate M. Vitasse, who were attending the Governing Board for the first time. The Governing Board heard a report from its Chairman on the meeting of the CERN Council on 19 December 2003, at which, under Pension Fund matters, the Council had approved a pensions adjustment of 0.7%. The Governing Board then heard a report on the main elements of the Investment Committee's meeting on 3 December 2003. During a presentation, Expert Timing System (Madrid) and the Compagnie de Trésorerie Benjamin de Rothschild (Geneva) had proposed a bond portfolio investment following the same quantitative investment principles as the equities portfolio they already managed for the Fund. After some deliberation, the Investment Committee had decided, on that basis, to award t...

  7. PENSION FUND

    CERN Multimedia

    Administration of the Fund

    2001-01-01

    The Administration of the Fund has just signed a contract with the 'La Suisse' insurance company, making life insurance available to persons leaving CERN under very similar conditions to those offered to the members of the CERN personnel. From now on, persons retiring from the Organization will be able to take out this new insurance at the moment of retirement, provided that they have been members of CERN's collective life insurance scheme for the last five years of service. Exceptionally, until the end of 2001, 'La Suisse' has agreed to allow persons who are already retired to take out this insurance, provided that they are less than 70 years old and subject to their state of health (health questionnaire to be completed) and with a maximum insured amount set at 150,000 CHF. We therefore invite any retired persons interested in this insurance to consult the detailed terms and conditions, either on the Pension Fund's Web site (http://pensions.web.cern.ch/pensions) or contacting to the Administration of the Fun...

  8. Pension fund

    CERN Multimedia

    Staff Association

    2014-01-01

    Letter sent on Monday 8 December 2014 to the delegates of the Member States to CERN Council An item on the agenda of the CERN Council of Thursday 11 December concerned the CERN Pension Fund, namely a discussion of a document that proposes how to respond to the many questions concerning pensions that had been submitted by thirteen Member State delegations. That document lists all these questions and proposes, as a first step, to consider the legal feasibility and the actuarial cost to transform our current defined-benefit pension scheme into a defined-contribution scheme. Once again, several delegates show their determination to worsen our pension conditions. The Staff Association’s Pension Commission, in a special meeting on Thursday, 4 December, has decided to send an open letter to the delegates of the CERN Council. In this letter (shown below) the Staff Association and CERN-ESO Pensions’ Association express their opposition to these intentions. We underline, once more, that the 2010...

  9. Picking Funds with Confidence

    DEFF Research Database (Denmark)

    Grønborg, Niels Strange; Lunde, Asger; Timmermann, Allan

    We present a new approach to selecting active mutual funds that uses both holdings and return information to eliminate funds with predicted inferior performance through a sequence of pair-wise comparisons. Our methodology determines both the number of skilled funds and their identity, funds ident...

  10. GOVERNING BOARD OF THE PENSION FUND

    CERN Multimedia

    2001-01-01

    The Governing Board met on 4 September in its first session since the summer break. On this occasion, the Board invited the two actuaries entrusted with the three-yearly actuarial review of the Fund, MP Actuaires SA (Geneva) and AON Consulting (Brussels), to present their results. Although the two studies were conducted independently and simultaneously, the Governing Board noted that the underlying methodology was remarkably similar in both cases. Both actuaries adopted a stochastic approach, both performed analyses based on the closed-fund method and on the open-fund method, and both made an evaluation of the risks for the appreciation of the Fund's financial position. This methodology produced consistent results which, while not always identical, are superimposable in terms of their order of magnitude. Under the closed-fund method, which involves assessing the Fund's financial situation as if it were closed on the date of calculation without any new members being admitted, both actuaries conclude that the s...

  11. The funding black hole

    CERN Multimedia

    2008-01-01

    Two physics students at the University of Bristol have organised a petition against the recently-announced funding cut of 80 million by the body that funds physics research in the UK, the Science and Technology Facilities Council (STFC).

  12. Fanconi Anemia Research Fund

    Science.gov (United States)

    ... Support Publications Fundraising News What is the Fanconi Anemia Research Fund? Fanconi anemia is an inherited disease that can lead to ... population. Lynn and Dave Frohnmayer started the Fanconi Anemia Research Fund, in 1989 to find effective treatments ...

  13. Independent technical review, handbook

    Energy Technology Data Exchange (ETDEWEB)

    1994-02-01

    Purpose Provide an independent engineering review of the major projects being funded by the Department of Energy, Office of Environmental Restoration and Waste Management. The independent engineering review will address questions of whether the engineering practice is sufficiently developed to a point where a major project can be executed without significant technical problems. The independent review will focus on questions related to: (1) Adequacy of development of the technical base of understanding; (2) Status of development and availability of technology among the various alternatives; (3) Status and availability of the industrial infrastructure to support project design, equipment fabrication, facility construction, and process and program/project operation; (4) Adequacy of the design effort to provide a sound foundation to support execution of project; (5) Ability of the organization to fully integrate the system, and direct, manage, and control the execution of a complex major project.

  14. Pension funds' herding

    NARCIS (Netherlands)

    Broeders, D.; Chen, D.; Minderhoud, P.; Schudel, W.

    2016-01-01

    This paper uses unique and detailed transaction data to analyse herding behavior among pension funds. We distinguish between weak, semi strong and strong herding behaviour. Weak herding occurs if pension funds have similar rebalancing strategies. Semi strong herding arises when pension funds react s

  15. Rating mutual funds

    DEFF Research Database (Denmark)

    Bechmann, Ken L.; Rangvid, Jesper

    obtained an annual risk-adjusted excess return that is approximately 3-4 percentage points higher per annum than if the funds with the highest costs had been invested in. We compare the atpRating with the Morningstar Rating. We show that one reason why the atpRating and the Morningstar Rating contain...... different information is that the returns Morningstar uses as inputs when rating funds are highly volatile whereas the costs the atpRating uses as inputs when rating funds are highly persistent. In other words, a fund that has low costs one year will most likely also have low costs the following year......, whereas the return of a fund in a certain year generally contains only little information about the future return that the fund will generate. Finally, we have information on the investments in different mutual funds made by a small subgroup of investors known to have been exposed to both the atpRating...

  16. Rating mutual funds

    DEFF Research Database (Denmark)

    Bechmann, Ken L.; Rangvid, Jesper

    2007-01-01

    obtained a risk-adjusted excess return that is approximately 3-4 percentage points higher per annum than if the funds with the highest costs had been invested in. We compare the atpRating with the Morningstar Rating. We show that one reason why the atpRating and the Morningstar Rating contain different...... information is that the returns Morningstar uses as inputs when rating funds are highly volatile whereas the costs the atpRating uses as inputs when rating funds are highly persistent. In other words, a fund that has low costs one year will most likely also have low costs the following year, whereas...... the return of a fund in a certain year generally contains only little information about the future return that the fund will generate. Finally, we have information on the investments in different mutual funds made by a small subgroup of investors known to have been exposed to both the atpRating...

  17. Ultrametricity in fund of funds diversification

    Science.gov (United States)

    Miceli, M. A.; Susinno, G.

    2004-12-01

    Minimum market transparency requirements impose hedge fund (HF) managers to use the statement declared strategy in practice. However, each declared strategy may actually generate a multiplicity of implemented management decisions. Is then the “actual ” strategy the same as the “announced” strategy? Can the actual strategy be monitored or compared to the actual strategy of HF belonging to the same “announced” class? Can the announced or actual strategy be used as a quantitative argument in the fund of funds policy? With the appropriate metric, it is possible to draw a minimum spanning tree (MST) to emphasize the similarity structure that could be hidden in the raw correlation matrix of HF returns.

  18. A Fund of Wisdom

    DEFF Research Database (Denmark)

    Seabrooke, Leonard; Broome, André

    2006-01-01

    the Fund's bilateral surveillance of its Western member states. This article proposes that "seeing like the IMF" provides a dynamic view of how the Fund frames its advice for institutional change. It does so through "associational templates" that do not blindly promote institutional convergence, but appeal......The International Monetary Fund spends most of its time monitoring its member states' economic performance and advising on institutional change. While much of the literature sees the Fund as a policy enforcer in "emerging market" and "frontier" economies, little attention has been paid to exploring...... for change on the basis of like-characteristics among economies. Many Western states, particularly small open economies, consider the Fund's advice as important not only for technical know-how, but because Fund assessments are significant to international and domestic political audiences. This article traces...

  19. INDEXING AND INDEX FUNDS

    Directory of Open Access Journals (Sweden)

    HAKAN SARITAŞ

    2013-06-01

    Full Text Available Proponents of the efficient market hypothesis believe that active portfolio management is largely wasted effort and unlikely to justify the expenses incurred. Therefore, they advocate a passive investment strategy that makes no attempt to outsmart the market. One common strategy for passive management is indexing where a fund is designed to replicate the performance of a broad-based index of stocks and bonds. Traditionally, indexing was used by institutional investors, but today, the use of index funds proliferated among individual investors. Over the years, both international and domestic index funds have disproportionately outperformed the market more than the actively managed funds have.

  20. Independent Directors

    DEFF Research Database (Denmark)

    Ringe, Wolf-Georg

    2013-01-01

    This paper re-evaluates the corporate governance concept of ‘board independence’ against the disappointing experiences during the 2007-08 financial crisis. Independent or outside directors had long been seen as an essential tool to improve the monitoring role of the board. Yet the crisis revealed...... that they did not prevent firms' excessive risk taking; further, these directors sometimes showed serious deficits in understanding the business they were supposed to control, and remained passive in addressing structural problems. A closer look reveals that under the surface of seemingly unanimous consensus...... about board independence in Western jurisdictions, a surprising disharmony prevails about the justification, extent and purpose of independence requirements. These considerations lead me to question the benefits of the current system. Instead, this paper proposes a new, ‘functional’ concept of board...

  1. Establishing a green lights revolving fund

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1996-07-01

    The report details the experiences of the City of Houston in establishing a Green Lights Revolving Fund. It provides examples of key documents and guidelines which can be used in other jurisdictions to establish an internal revolving fund to provide continuing monies through recapture of cost savings for an ongoing program of energy improvements in governmental facilities. It provides guidelines on how to establish a continuing source of funds for governmental facility energy improvements. The report provides background information on the ongoing energy improvement programs in the City of Houston, including its participation in the Environmental Protection Agency`s Green Lights Program. It reviews the steps required to establish a Green Lights Revolving Fund, including the administrative, legal, budgetary, accounting, interdepartmental, mayoral, and governing body approvals and actions needed to create a self-sustaining revolving fund devoted to energy improvements. The report also describes two funding sources in addition to the grant seed funds which were used to increase the initial funds available in the Green Lights Revolving Fund. It provides sample documents for modification and use in other jurisdictions that want to use similar funding sources. It reports the initial project submission and selection procedure and criteria, and provides a transferable project application kit based on the criteria specified. It also details a sample repayment memorandum of understanding between departments, which can be used in other governments. Other transferable products provided in the report are sample energy audit summaries which were conducted by qualified, independent staff to determine the accuracy of the departmental project costs and savings payback calculations.

  2. To Fund or Not to Fund

    DEFF Research Database (Denmark)

    Hvass, Kristian Anders

    2014-01-01

    of passenger traffic flows and interviews with industry experts suggests that funding offers are seldom influential and there are threats of uni-directional traffic, cannibalization, and inappropriate metrics with such programs. A sustainable alternative would see destination stakeholders cooperate to develop...... inbound tourism products to match the needs of an airline's customer groups....

  3. Funding Music Technology.

    Science.gov (United States)

    Kassner, Kirk

    1998-01-01

    Recommends that teachers write grants to obtain funds for using technology in music education. Explains that teachers should ask themselves two questions: "Who has funds to give and what do they require the recipient to do?" Provides a list of guidelines, a sample grant proposal, and information about the panel review. (CMK)

  4. A Fund of Wisdom

    DEFF Research Database (Denmark)

    Seabrooke, Leonard; Broome, André

    2006-01-01

    the Fund's advice on taxation and monetary reform to two coordinated market economies, Denmark and Sweden, and two liberal market economies, Australia and New Zealand from 1975 to 2004. It maps how the Fund advocated "policy revolutions" and "policy recombinations" during this period, advice that coincided...

  5. Educational Technology Funding Models

    Science.gov (United States)

    Mark, Amy E.

    2008-01-01

    Library and cross-disciplinary literature all stress the increasing importance of instructional technology in higher education. However, there is a dearth of articles detailing funding for library instructional technology. The bulk of library literature on funding for these projects focuses on one-time grant opportunities and on the architecture…

  6. Choosing Independence

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    Milo Djukanovic, Prime Minister of Montenegro, won a key referendum May 21 when voters in his tiny, mountainous nation endorsed a plan to split from Serbia and become an independent state. This marked a final step in the breakup of the former Yugoslavia formed by six republics.

  7. deepening decentralisation through non-partisan district assembly ...

    African Journals Online (AJOL)

    PUBLICATIONS1

    the district assemblies and numerous challenges confronting the Assembly members. In addi- ... participate in the decision making process ... RESEARCH METHODOLOGY ... equally good approaches such as statistical ..... “The MCE has managed to get his people to ... though they raised their hands and sometimes.

  8. Independent preferences

    DEFF Research Database (Denmark)

    Vind, Karl

    1991-01-01

    A simple mathematical result characterizing a subset of a product set is proved and used to obtain additive representations of preferences. The additivity consequences of independence assumptions are obtained for preferences which are not total or transitive. This means that most of the economic...... theory based on additive preferences - expected utility, discounted utility - has been generalized to preferences which are not total or transitive. Other economic applications of the theorem are given...

  9. INVESTMENT FUNDS IN ROMANIA

    Directory of Open Access Journals (Sweden)

    COPIL CRINA ANGELA

    2013-07-01

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

  10. Constructing Multi-Strategy Fund of Hedge Funds

    OpenAIRE

    Suppal, Kamal

    2004-01-01

    This paper aims to develop a systematic allocation methodology to combine multi-strategy hedge funds within a structure of fund of funds in a risk-controlled manner. This is particularly important since the traditional mean-variance optimization proves ineffective in addressing hedge fund return distributions that are asymmetric in nature. Moreover, unstable correlations among various hedge fund strategies also pose a challenge to a meaningful optimization to combine various hedge fund strate...

  11. Mutual aid fund commission

    CERN Document Server

    Staff Association

    2011-01-01

    The composition of the Board of the Mutual Aid Fund for 2011 is as follows: President: Pascal Droux Vice-president: Connie Potter Treasurer: Louis Pereira Deputy treasurer: Barbara Brugger Secretary: Sonia Casenove Deputy secretary: Isabelle Mardirossian Members: Christopher David Thomas   Jean-Claude Vialis (GAC member)   Marie-Luce Falipou   Gunilla Santiard (Jean-Claude Vialis’s alternate) The role of the Fund is to provide financial help to members of personnel and beneficiaries of the Pension Fund who are in need of exceptional financial assistance. All requests are treated in the strictest confidence. Should you wish to apply for aid from the Fund, kindly contact any member of the Board as given above or Social Services, tel.74479 – 73867.

  12. Funding begets biodiversity

    DEFF Research Database (Denmark)

    Ahrends, Antje; Burgess, Neil David; Gereau, Roy E.

    2011-01-01

    . Cross-correlation analysis showed that funding is likely to be driving conservation priorities and not vice versa. It was also apparent that investment itself may trigger further investments as a result of reduced start-up costs for new projects in areas where infrastructure already exists......Aim Effective conservation of biodiversity relies on an unbiased knowledge of its distribution. Conservation priority assessments are typically based on the levels of species richness, endemism and threat. Areas identified as important receive the majority of conservation investments, often....... It is therefore difficult to establish whether funding, perceived biodiversity, or both drive further funding. However, in all cases, the results suggest that regional assessments of biodiversity conservation importance may be biased by investment. Funding effects might also confound studies on mechanisms...

  13. Annual Pension Fund Update

    CERN Multimedia

    Pension Fund

    2011-01-01

    All members and beneficiaries of the Pension Fund are invited to attend the Annual Pension Fund Update to be held in the CERN Council Chamber on Tuesday 20 September 2011 from 10-00 to 12-00 a.m. Copies of the 2010 Financial Statements are available from departmental secretariats. Coffee and croissants will be served prior to the meeting as of 9-30 a.m.

  14. PENSION FUND - ELECTIONS

    CERN Multimedia

    2000-01-01

    This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund.   Candidate: Name: RANJARD First Name: Florence Having been a member of the Governing Board of the Pension Fund since 1983 as Guy Maurin’s alternate, I am standing for a further 3-year term of office. Over the past few years work has concentrated essentially on following items: Monitoring of the work of the fund managers and their performances. The three-yearly study of the Fund’s actuarial situation. The pension guarantees ­ second phase. The Fund is approaching its maturity: the level of benefits exceeds contributions. In this context it has to strike a suitable balance between management of the risk from a dynamic investment policy, while by a prudent policy avoiding any significant loss of its capital. These will be my concerns within the Governing Board of the Pension Fund if you give me your support.

  15. Overview: Permanent University Fund (PUF)/Higher Education Fund (HEF)

    Science.gov (United States)

    Texas Higher Education Coordinating Board, 2009

    2009-01-01

    All public institutions of higher education except community colleges and the Texas A&M University System College of Dentistry receive funding for construction and other capital purposes from the Permanent University Fund (PUF) or the Higher Education Fund (HEF) (sometimes referred to as the Higher Education Assistance Fund or HEAF). The…

  16. ELECTIONS PENSION FUND

    CERN Multimedia

    2001-01-01

    ORGANISATION EUROPEENNE POUR LA RECHERCHE NUCLEAIRE CERN EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH CAISSE DE PENSIONS / PENSION FUND Caisse de Pensions - ELECTIONS - Pension Fund This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate : Name : CHIAVERI First Name : Enrico I have been a CERN staff member since 1973 and have always been interested in our working conditions. As a member of the Executive Committee of the Staff Association I participated from 1980 to 1984 in the Working Group on Pensions mandated by the CERN Council. This commitment led to my becoming a member of the Governing Board of the Pension Fund in 1983, since when I have taken an active part in various commissions and working groups (Real Estate Asset Management Committee, Working Group on Actuarial Matters etc.); in so doing I have gained a thorough knowledge of different areas of the Pension Fund. Since ...

  17. ELECTIONS - Pension Fund

    CERN Document Server

    2006-01-01

    CERN - EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH PENSION FUND ELECTIONS - Pension Fund This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate: First name: Michel Name: Goossens The CERN/ESO Pension Fund represents, for most staff, the sole source of income when they retire. The health of our Pension Fund is thus of the utmost importance to ensure the payment of pensions up to the death of the last beneficiary. The 2003 actuarial review showed a large deficit and several corrective measures have already been taken. The next months will see the results of the 2006 actuarial review. We hope they will show that the measures taken last year are going in the right direction. However, we must remain proactive since further measures will no doubt be necessary. New and imaginative proposals must be prepared and discussed in the widest possible forum, by regular direct contact ...

  18. ELECTIONS - Pension Fund

    CERN Multimedia

    2006-01-01

    CERN - EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH PENSION FUND ELECTIONS - Pension Fund This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate: First name: Michel Name: Goossens The CERN/ESO Pension Fund represents, for most staff, the sole source of income when they retire. The health of our Pension Fund is thus of the utmost importance to ensure the payment of pensions up to the death of the last beneficiary. The 2003 actuarial review showed a large deficit and several corrective measures have already been taken. The next months will see the results of the 2006 actuarial review. We hope they will show that the measures taken last year are going in the right direction. However, we must remain proactive since further measures will no doubt be necessary. New and imaginative proposals must be prepared and discussed in the widest possible forum, by regular direct contact with staff...

  19. ELECTIONS - Pension Fund

    CERN Multimedia

    2006-01-01

    CERN - EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH PENSION FUND ELECTIONS - Pension Fund This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate: First name: Michel Name: Goossens The CERN/ESO Pension Fund represents, for most staff, the sole source of income when they retire. The health of our Pension Fund is thus of the utmost importance to ensure the payment of pensions up to the death of the last beneficiary. The 2003 actuarial review showed a large deficit and several corrective measures have already been taken. The next months will see the results of the 2006 actuarial review. We hope they will show that the measures taken last year are going in the right direction. However, we must remain proactive since further measures will no doubt be necessary. New and imaginative proposals must be prepared and discussed in the widest possible forum, by regular direct contact with staf...

  20. Innovative funding solution for special projects: Crowd funding

    Directory of Open Access Journals (Sweden)

    Sentot Imam Wahjono

    2015-06-01

    Full Text Available The aim of this paper is to examine the influence of crowd funding knowledge, applica-tion, platform, and project initiator toward successful crowd funding. This study conducted by quantitative approach, data have been collected with web-based ques-tionnaires via Kickstarter.com direct message and e-mail to 200 successful crowd funding project initiators as a sample and as much 152 sets questionnaire returned by a complete answer and should be analyzed further. Deployment and data collection take 3 month from October to December 2013. This study found evidence that crowd funding knowledge, crowd funding application, crowd funding platform, and project initiator has positive and significant relationship toward the success of crowd funding. The implication from this research is crowd funding can be a source of capital to finance the projects, not just rely on traditional sources of financing just like banking and capital markets. Crowd funding can be innovative funding solution.

  1. Pension Fund Governing Board

    CERN Multimedia

    HR Department

    2008-01-01

    Note The CERN pension scheme is based on the principle of defined benefits, so beneficiaries continue to receive the benefits to which they are entitled in accordance with the Rules of the Pension Fund. This means that pension entitlements under the Rules are not directly affected by the financial crisis and the current economic situation. However, the adjustment of pensions to the cost of living is not automatic and, under the method applied since 2006, must take into account the Fund’s financial position. Meeting of the Pension Fund Governing Board The Pension Fund Governing Board held its eighth meeting at ESO in Garching, Germany (near Munich) on 24 October 2008. Before starting its work, the Governing Board had the privilege of hearing an opening address by Professor Tim de Zeeuw, the Director General of ESO. Professor de Zeeuw described the mission of ESO and the ambitious projects of his organisation, which performs astronomy observations using telescopes located in...

  2. Pension Fund governing board

    CERN Multimedia

    HR Department

    2008-01-01

    On 16 March and 7 May, the Pension Fund Governing Board (PFGB) held its fourth and fifth meetings The first of these meetings was primarily dedicated to the examination of the strategic asset allocation. The PFGB reaffirmed the main goal of the new strategic asset allocation: to improve the Pension Fund’s position with regard to risk by lowering overall portfolio volatility through suitable investments in less volatile asset classes such as real estate and absolute return strategies, where the return does not depend on market trends and negative growth is extremely unlikely. The finalised document will be presented to the Finance Committee and the Council at their June meetings for approval, in accordance with the provisions of the Levaux report. The PFGB also took note of the Internal Audit’s report on Pension Fund operations and decided to refer it to Working Group I as a working document for establishing a control and internal monitoring system for Pension Fund oper...

  3. Pension Fund governing board

    CERN Document Server

    HR Department

    2008-01-01

    On 16 March and 7 May, the Pension Fund Governing Board (PFGB) held its fourth and fifth meetings The first of these meetings was primarily dedicated to the examination of the strategic asset allocation. The PFGB reaffirmed the main goal of the new strategic asset allocation: to improve the Pension Fund’s position with regard to risk by lowering overall portfolio volatility through suitable investments in less volatile asset classes such as real estate and absolute return strategies, where the return does not depend on market trends and negative growth is extremely unlikely. The finalised document will be presented to the Finance Committee and the Council at their June meetings for approval, in accordance with the provisions of the Levaux report. The PFGB also took note of the Internal Audit’s report on Pension Fund operations and decided to refer it to Working Group I as a working document for establishing a control and internal monitoring system for Pension Fund oper...

  4. EU funding bonanza begins

    Directory of Open Access Journals (Sweden)

    Paula Gould

    2003-02-01

    There was little razzmatazz and chest-thumping in evidence at November’s official launch of FP6, the EU’s main vehicle for funding scientific research in Europe. Commission officials appeared quietly confident as they unveiled new plans for investment in scientific and technological projects (all subject to last minute change, of course. Draft documents were subsequently tidied and necessary revisions made, as consultative committees gave their final seal of approval. Initial calls for proposals have now been issued. Let the funding bonanza begin!

  5. Funding Research Software Development

    Science.gov (United States)

    Momcheva, Ivelina G.

    2017-01-01

    Astronomical software is used by each and every member of our scientific community. Purpose-build software is becoming ever more critical as we enter the regime of large datasets and simulations of increasing complexity. However, financial investments in building, maintaining and renovating the software infrastructure have been uneven. In this talk I will summarize past and current funding sources for astronomical software development, discuss other models of funding and introduce a new initiative for supporting community software at STScI. The purpose of this talk is to prompt discussion about how we allocate resources to this vital infrastructure.

  6. Fund Heat Raise

    Institute of Scientific and Technical Information of China (English)

    Yang Wei

    2007-01-01

    @@ With the continuing massive inflow of domestic and foreign funds a new page has turned with respect to Chinese securities,pushing the Chinese stock index to a historical high,where much of the buying has been concentrated in banksand blue chips.

  7. Safeguarding Your Retirement Fund.

    Science.gov (United States)

    Morrell, Louis R.

    1989-01-01

    Faculty members should consider becoming more involved in the oversight of their personal retirement funds. Both price and inflation risks are best controlled by taking a balanced or diversified approach to investing, with a portfolio based on a predetermined percentage of each type of investment. (MSE)

  8. Public Funding of Political Parties

    DEFF Research Database (Denmark)

    Ortuno-Ortin, Ignacio; Schultz, Christian

    This paper concerns public funding of parties. Parteis receive public funds depending on their vote share. Funds finance electoral campaigns. Two cases are investigated. In the first, some voters are policy motivated and some are ?impressionable? ? their vote depends directly on campaign...... expenditures. In the second, campaigning is informative and all voters are policy motivated. Public funds increase policy convergence in both cases. The effect is larger, the more funding depends on vote shares. When campaigns are informative, there may be multiple euqilibria. Intuitively, a large party can...... stay large since it receives large funds...

  9. Mutual Fund Performances of Polish Domestic Equity Fund Managers 1

    National Research Council Canada - National Science Library

    Gözde Ünal; Ömer Faruk Tan

    2015-01-01

    .... A total of 14 equity fund managers' performances are analyzed. The study can be guiding especially for investors who are interested in Polish equity fund performances in a period where emerging stock markets outperformed with QE.

  10. Pension Fund award

    CERN Multimedia

    Antonella Del Rosso

    2013-01-01

    The CERN Pension Fund won the Investments & Pensions Europe (IPE) 2013 Gold Award in the Medium Real-Estate Investor category. IPE is the leading European publication on the subject of pensions. The awards were judged by a panel of 22 members, which included leading European investment consultants and pension fund executives.     Théodore Economou (left), the CERN Pension Fund’s Chief Executive Officer, receives the IPE 2013 Gold Award.   The award recognised the “fresh thinking” behind the CERN Pension Fund’s updated real-estate strategy, which has brought it “focus” on “high-quality assets and diversification.” The jury also noted the Fund’s “streamlined and cost-efficient” management, and noted that CERN is “running a tight ship”. While the awards are given by a European institution, they have a worldwide scope, and winners in ot...

  11. Kryolize - KT Fund Project

    CERN Document Server

    CERN. Geneva

    2016-01-01

    Safety standards and best practices do exist in the field of cryogenics but, as in most domains, they are generally inserted in a few ‘envelope’ cases commonly used in the industry, whereas applicability to the particularity of research facilities are not fully tailored to its needs. The main objective in these cases is to find a harmonised approach, based on lessons learnt and scientific knowledge. The Kryolize Project was created in order to produce tools with a harmonized approach to size pressure relief devices for cryogenic applications. In view of disseminating such tools to other institutes and industrial partners, the project was submitted to CERN’s KT Fund committee. This talk will focus on the process and deliverables of the KT-Funded Kryolize project, including the method on how to cope with the sizing of pressure relief devices and the R&D collaboration agreement between CERN and Karlsruhe Institute of Technology for an experimental programme.

  12. Funding open access

    Science.gov (United States)

    Sprouse, Gene D.; Zimmermann, Frank

    2009-03-01

    We were happy to see the 10-year anniversary of our open-access journal Physical Review Special Topics: Accelerators and Beams (PRST-AB) mentioned in your news article on open-access publishing (December 2008 pp13-14). However, your statement that PRST-AB "is funded by US national labs, whose researchers publish about 150 papers per year in the journal" is not entirely correct.

  13. Iran funds dam completion

    Institute of Scientific and Technical Information of China (English)

    2002-01-01

    Iran has signed a contract with unnamed foreign financiers for US$300M to fund two half-finished dam schemes, according to Tehran radio. The schemes are the Ostur dam in Mianeh in East Azerbaijan province and the Molla Sadra dam in Fars province. The Ostur dam will have a storage capacity of 2B m3 and a 160 MW hydro power station.

  14. Action against terrorist funding

    OpenAIRE

    Cranston, Ross

    2002-01-01

    Editorial comment on international measures to counter terrorist funding. Short commentary by Ross Cranston QC MP, Chairman of the SLAS Export Working Group on the Legal implications of the interdiction of terrorist property. Published in Amicus Curiae - Journal of the Institute of Advanced Legal Studies and its Society for Advanced Legal Studies. The Journal is produced by the Society for Advanced Legal Studies at the Institute of Advanced Legal Studies, University of London.

  15. Pension Fund Governing Board

    CERN Multimedia

    HR Department

    2008-01-01

    Note The CERN pension scheme is based on the principle of defined benefits, so beneficiaries continue to receive the benefits to which they are entitled in accordance with the Rules of the Pension Fund. This means that pension entitlements under the Rules are not directly affected by the financial crisis and the current economic situation. However, the adjustment of pensions to the cost of living is not automatic and, under the method applied since 2006, must take into account the Fund’s financial position. Meeting of the Pension Fund Governing Board The Pension Fund Governing Board held its eighth meeting at ESO in Garching (near Munich), Germany on 24 October 2008. Before starting its work, the Governing Board had the privilege of hearing an opening address by Professor Tim de Zeeuw, the Director General of ESO. Professor de Zeeuw described the mission of ESO and the ambitious projects of his organisation, which performs astronomy observations using telescopes located in Chile. The Director-General receiv...

  16. PENSION FUND - ELECTIONS

    CERN Multimedia

    2000-01-01

    This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund.   Candidate: Name: MAURIN First Name: Guy I have been a member of the personnel since 1967 and as early as 1972 I was involved, in my capacity as President of the Staff Association, in the improvement of the Pension Fund benefits. As for most of us the Pension Fund is the only social provident scheme to which we belong, it is important to ensure that it is well managed and in balance. As a member of the Governing Board since 1974 and Vice-Chairman of this Board since 1977, I have continued to pursue these objectives. One of the main responsibilities of the Governing Board is our asset investment policy. The Investment Committee, of which I am Chairman, must have an overall view of the management of our 4 billion Swiss francs and seek the best yield with minimum risk. The investment structure must continuously be adapted i...

  17. Namibia - Vocational Training Grant Fund

    Data.gov (United States)

    Millennium Challenge Corporation — The impact evaluation of the Vocational Training Grant Fund (VTGF) subactivity in Namibia uses a random assignment design to determine the effects of VTGF-funded...

  18. Funding Opportunity: Genomic Data Centers

    Science.gov (United States)

    Funding Opportunity CCG, Funding Opportunity Center for Cancer Genomics, CCG, Center for Cancer Genomics, CCG RFA, Center for cancer genomics rfa, genomic data analysis network, genomic data analysis network centers,

  19. Mutual Fund Performances of Polish Domestic Equity Fund Managers

    Directory of Open Access Journals (Sweden)

    ömer faruk tan

    2015-10-01

    Full Text Available Abstract: Purpose of the article: The main purpose of the paper is empirically evaluating selectivity skills and market timing ability of Polish fund managers during the period from January 2009 to November 2014. After the global financial crisis of 2008, in this period of quantitative easing (QE, thanks to an increase in the money supply, a capital flow from developed countries to developing countries was observed. In this study, we try to analyse that although the financial market in Poland made an incredible progress, whether fund managers show better or worse performance than the market. Methodology/Methods: In order to evaluate fund manager performances, Jensen alpha (1968 is computed, which depicts selectivity skills of fund managers. For determining market timing ability of fund managers, Treynor&Mazuy (1966 regression analysis and Henriksson&Merton (1981 regression analysis are applied. Fund performances are evaluated using Warsaw Stock Exchange Index as the benchmark index. Scientific aim: In this study, we have tried to evaluate selectivity skills and market timing ability of Polish fund managers. A total of 14 equity fund managers’ performances are analysed. The study can be guiding especially for investors who are interested in Polish equity fund performances in a period where emerging stock markets outperformed with quantitative easing. Findings: Jensen (1968 alphas indicate that over this period fund managers did not have selective ability, as none of the 14 funds had statistically significant positive alphas. Furthermore, Treynor&Mazuy (1966 and Henriksson&Merton (1981 regression analysis indicate that over the same period fund managers did not also have market timing ability, as again none of the 14 funds had statistically significant positive coefficients. Conclusion: In this work, we can detect that in the era of quantitative easing, although the financial market in Poland made an incredible progress, the fund returns were

  20. Long-Short Fund Performance Evaluation in Brazil

    Directory of Open Access Journals (Sweden)

    Fábio Augusto Reis Gomes

    2010-12-01

    Full Text Available Long-Short Funds should be able to provide positive returns, above the opportunity cost and independent of market conditions, once they can have both long and short positions. For this reason, this study aims to evaluate the Long-Short funds in Brazil, assessing whether customers of these products are buying just market returns (Beta, or if there is excess return (alpha independent of the stock market. Analyzing a sample of 76 funds from January 2, 2001 to March 31, 2008, using daily and monthly data, we found evidence that a small number of funds are able to generate excess return. Besides, this excess does not exhibit persistence. Finally, there is little or no evidence for market timing.

  1. Property fund flows and returns

    OpenAIRE

    Stephen L. Lee

    2000-01-01

    This study is concerned with the impacts on property returns from property fund flows, and with the possibility of a reverse transmission from property fund flows to property returns. In other words this study investigates whether property returns “cause” fund flow changes, or whether fund flow changes “cause” property returns, or causality works in both directions.\\ud \\ud \\ud \\ud

  2. Market Liquidity and Funding Liquidity

    OpenAIRE

    Brunnermeier, Markus K; Lasse Heje Pedersen

    2007-01-01

    We provide a model that links an asset's market liquidity - i.e., the ease with which it is traded - and traders' funding liquidity - i.e., the ease with which they can obtain funding. Traders provide market liquidity, and their ability to do so depends on their availability of funding. Conversely, traders' funding, i.e., their capital and the margins they are charged, depend on the assets' market liquidity. We show that, under certain conditions, margins are destabilizing and market liquidit...

  3. Market Liquidity and Funding Liquidity

    OpenAIRE

    Markus K. Brunnermeier; Lasse Heje Pedersen

    2007-01-01

    We provide a model that links an asset's market liquidity - i.e., the ease with which it is traded - and traders' funding liquidity - i.e., the ease with which they can obtain funding. Traders provide market liquidity, and their ability to do so depends on their availability of funding. Conversely, traders' funding, i.e., their capital and the margins they are charged, depend on the assets' market liquidity. We show that, under certain conditions, margins are destabilizing and market liquidit...

  4. Property fund flows and returns

    OpenAIRE

    Lee, Stephen L.

    2000-01-01

    This study is concerned with the impacts on property returns from property fund flows, and with the possibility of a reverse transmission from property fund flows to property returns. In other words this study investigates whether property returns “cause” fund flow changes, or whether fund flow changes “cause” property returns, or causality works in both directions.\\ud \\ud \\ud \\ud

  5. Bitter Sweetness For Fund Managers

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    An influx of small investors eager to earn money puts heavy pressure on fund managers Fund managers control millions in capital and call the shots in the stock market. They can make a fortune from a single judgment. The debut of fund management operation

  6. School Competition and Efficiency with Publicly Funded Catholic Schools

    OpenAIRE

    David Card; Martin Dooley; Abigail Payne

    2010-01-01

    The province of Ontario has two publicly funded school systems: secular schools (known as public schools) that are open to all students, and separate schools that are open to children with Catholic backgrounds. The systems are administered independently and receive equal funding per student. In this paper we use detailed school and student-level data to assess whether competition between the systems leads to improved efficiency. Building on a simple model of school choice, we argue that incen...

  7. Public Funding of Political Parties

    DEFF Research Database (Denmark)

    Ortuno-Ortin, Ignacio; Schultz, Christian

    expenditures. In the second, campaigning is informative and all voters are policy motivated. Public funds increase policy convergence in both cases. The effect is larger, the more funding depends on vote shares. When campaigns are informative, there may be multiple euqilibria. Intuitively, a large party can......This paper concerns public funding of parties. Parteis receive public funds depending on their vote share. Funds finance electoral campaigns. Two cases are investigated. In the first, some voters are policy motivated and some are ?impressionable? ? their vote depends directly on campaign...

  8. Should Public Pensions be Funded?

    OpenAIRE

    Richard Hemming

    1998-01-01

    This paper outlines some of the arguments for and against the funding of public pensions, with a view to establishing whether there is an economic basis for judging funding to be superior to pay-as-you-go (PAYG). It is argued that funding does not have a clear advantage, and the case for a shift from PAYG to funding is thus an uneasy one. There is nonetheless growing advocacy of funded public pensions as part of an ideal pension system, which raises more general issues about the role of the p...

  9. Risk analytics for hedge funds

    Science.gov (United States)

    Pareek, Ankur

    2005-05-01

    The rapid growth of the hedge fund industry presents significant business opportunity for the institutional investors particularly in the form of portfolio diversification. To facilitate this, there is a need to develop a new set of risk analytics for investments consisting of hedge funds, with the ultimate aim to create transparency in risk measurement without compromising the proprietary investment strategies of hedge funds. As well documented in the literature, use of dynamic options like strategies by most of the hedge funds make their returns highly non-normal with fat tails and high kurtosis, thus rendering Value at Risk (VaR) and other mean-variance analysis methods unsuitable for hedge fund risk quantification. This paper looks at some unique concerns for hedge fund risk management and will particularly concentrate on two approaches from physical world to model the non-linearities and dynamic correlations in hedge fund portfolio returns: Self Organizing Criticality (SOC) and Random Matrix Theory (RMT).Random Matrix Theory analyzes correlation matrix between different hedge fund styles and filters random noise from genuine correlations arising from interactions within the system. As seen in the results of portfolio risk analysis, it leads to a better portfolio risk forecastability and thus to optimum allocation of resources to different hedge fund styles. The results also prove the efficacy of self-organized criticality and implied portfolio correlation as a tool for risk management and style selection for portfolios of hedge funds, being particularly effective during non-linear market crashes.

  10. Physics Education Research funding census

    Science.gov (United States)

    Henderson, Charles; Barthelemy, Ramón; Finkelstein, Noah; Mestre, Jose

    2012-02-01

    It is important for a research community, such as Physics Education Research (PER), to understand how much funding it receives and where this funding comes from. During spring 2011, US-based members of the PER community were asked to respond to a web survey to identify funding that supports their research. Results indicate that the total funding base for PER from 2006-2010 (inclusive) is at least 262 grants worth a total of 72.5M. Most (75%) of the funding for PER comes from the National Science Foundation (NSF) and most of the NSF funding is through the NSF Directorate for Education and Human Resources. Very little PER work is funded through the Education and Interdisciplinary Research (EIR) Program that is housed within the NSF Division of Physics, nor is there significant funding from the US Department of Education. Although funding supports work at all levels of physics instruction, by far the largest amount of funding goes to support work at the introductory undergraduate level.

  11. In Search of the Optimal Fund of Hedge Funds

    OpenAIRE

    Harry M. Kat

    2002-01-01

    In this paper we investigate whether it is possible for a fund of hedge funds to not only offer investors access to a diversified basket of hedge funds but to provide skewness protection at the same time. We study two different strategies. The first is for a fund to buy stock index puts and leverage itself, in line with the skewness reduction strategy proposed earlier in Kat (2002). In general, the latter strategy is too dependent on the actual asset allocation strategy followed by investors ...

  12. Fund Raising for Haiti

    CERN Multimedia

    Association du personnel

    2010-01-01

    Dear Colleagues, Following the devastating earthquake that hit Haiti on 12 January 2010, the CERN Management and the Staff Association are organizing a collection to help the victims. The money collected will be transferred to associations or bodies guaranteeing proper use of the funds, such as the Association Haïti Ecoles based in Cessy, which our Long Term Collections supported for several years. From today you can pay your donations into a special UBS account, indicating “Séisme Haïti” as the reason for payment . SWIFT : UBSWCHZH12B IBAN : CH85 0027 9279 HU10 6832 1 Account Holder : Association du personnel du CERN We are counting on the generosity of the CERN community to support the Haitian people at this very difficult time. Thank you on their behalf. Rolf Heuer Director-General Gianni Deroma President of the Staff Association

  13. NIH Funding for Biomedical Imaging

    Science.gov (United States)

    Conroy, Richard

    Biomedical imaging, and in particular MRI and CT, is often identified as among the top 10 most significant advances in healthcare in the 20th century. This presentation will describe some of the recent advances in medical physics and imaging being funded by NIH in this century and current funding opportunities. The presentation will also highlight the role of multidisciplinary research in bringing concepts from the physical sciences and applying them to challenges in biological and biomedical research.. NIH Funding for Biomedical Imaging.

  14. Writing proposals for research funds.

    Science.gov (United States)

    Singh, Mina D; Cameron, Cherylyn; Duff, Diane

    2005-03-01

    In this paper, we provide generic guidelines for writing proposals for research funds. These guidelines apply to quantitative, qualitative and mixed methods research proposals. A proposal for research funding provides an overview of the planned research and is required by funding agencies. The proposal is submitted for evaluation and ranking by a review committee according to the criteria put forth by that particular agency. It may be necessary to submit proposals to more than one agency to acquire sufficient operating and infrastructure funding for a research project.

  15. Vulnerability of pension fund balances

    Directory of Open Access Journals (Sweden)

    Ólafur Ísleifsson

    2012-12-01

    Full Text Available Although the Icelandic general labour market pension funds are built on the proviso that pension schemes are fully funded these funds are still grappling with the devastating financial effects of the 2008 economic collapse that rendered most of them in a significant actuarial deficit. The public sector pension funds are based on an employer guarantee that makes up for any lack of funding that historically has been quite significant. We identify the relatively high actuarial discount rate and increasing longevity as two factors that add to the vulnerability of the Icelandic pension system. We present a stochastic model in order to obtain reasonably sound estimates of the effect of revising such key parameters of the actuarial assessments of the pension funds and thus obtain a view of the viability of the Icelandic pension system when confronted with the potential necessity of such parameter shifts. We present results of stochastic simulations of this models made to assess effects of changes in these major financial and demographic assumptions in actuarial evaluations of pension fund balances. Our results suggest that the Icelandic pension funds may be significantly less well funded than is generally perceived.

  16. KT Fund: Five years of funding for impact

    CERN Multimedia

    CERN Bulletin

    2015-01-01

    Cryogenic safety, ion beam therapy, event management for communities, emergency lighting… this year’s applications for funding through the Knowledge Transfer Fund demonstrate the breadth of possible applications of CERN technology beyond high-energy physics.     The use of high index glass spherical targets as retroreflectors for a 3D interferometer is the subject of one of the 2015 KT Fund Projects.   Following the 2015 selection committee held in January, the KT Fund has funded a total of seven new projects that aim to further develop CERN technologies to a level where they can be transferred and subsequently make a positive impact on society. “CERN’s ambitious scientific programme requires state-of-the-art technologies that are not always directly reusable by society because they were not designed with this purpose in mind,” explains David Mazur, Section Leader of the IP Dissemination Section. “Since 2011, the KT...

  17. Improving Fund Risk Management by Using New Software Tools Technology

    Directory of Open Access Journals (Sweden)

    Stephanos Papadamou

    2004-01-01

    Full Text Available This paper introduces a new MATLAB-based toolbox for Computer Aided mutual fund risk evaluation. In the age of computerized trading, financial services companies and independent investors must quickly investigate fund investment style and market risk. The Fund Risk toolbox is a financial software that includes a set of functions based on value at risk (VaR and expected tail loss (ETL methodology for graphical presentation of risk forecasts, evaluation of different risk models and identification of fund investment style. The sample of historical data can be divided to an estimation rolling window and the back-testing period. MATLAB?s vast built-in mathematical and financial functionality along with the fact that is both an interpreted and compiled programming language make this toolbox easily extendable by adding new complicated risk models with minimum programming effort.

  18. UNIT TRUST FUND'S INITIAL SERVICE CHARGE AND ITS DETERMINANTS

    Directory of Open Access Journals (Sweden)

    Nur Adiana Hiau Abdullah

    2006-01-01

    Full Text Available This paper examines the variables that might explain the initial service charge (ISC imposed on unit-holders of Malaysian unit trust funds in the year 1999. By using 39 openend unit trust funds, customer service and board structure variables are found to have asignificant effect in explaining the variations of ISC. Financial performance variables do not seem to have any influence on the level of ISC charged to the unit-holders. Our results also showed that funds which charged higher ISC do not necessarily provide higher returns to investors. Furthermore, there are unit trust funds that are having an initial service charge beyond the maximum 10% level required by the Securities Commissions or did not fulfil the independent directors requirement.

  19. Adequacy Model for School Funding

    Science.gov (United States)

    Banicki, Guy; Murphy, Gregg

    2014-01-01

    This study considers the effectiveness of the Evidence-Based Adequacy model of school funding. In looking at the Evidence-Based Adequacy model for school funding, one researcher has been centrally associated with the development and study of this model. Allen Odden is currently a professor in the Department of Educational Leadership and Policy…

  20. Crowd funding voor juridische fijnproevers

    NARCIS (Netherlands)

    I. van der Vlies

    2012-01-01

    Crowd funding is een eigentijds instrument om geld van goede gevers te verzamelen via de sociale media. Bij crowd funding hoeft de ‘crowd’ niet als groep of gemeenschap te bestaan. Het gaat om een verzameling personen die één ding gemeen heeft: geld geven voor een bepaald doel. De oude media speelde

  1. Random matrix theory and fund of funds portfolio optimisation

    Science.gov (United States)

    Conlon, T.; Ruskin, H. J.; Crane, M.

    2007-08-01

    The proprietary nature of Hedge Fund investing means that it is common practise for managers to release minimal information about their returns. The construction of a fund of hedge funds portfolio requires a correlation matrix which often has to be estimated using a relatively small sample of monthly returns data which induces noise. In this paper, random matrix theory (RMT) is applied to a cross-correlation matrix C, constructed using hedge fund returns data. The analysis reveals a number of eigenvalues that deviate from the spectrum suggested by RMT. The components of the deviating eigenvectors are found to correspond to distinct groups of strategies that are applied by hedge fund managers. The inverse participation ratio is used to quantify the number of components that participate in each eigenvector. Finally, the correlation matrix is cleaned by separating the noisy part from the non-noisy part of C. This technique is found to greatly reduce the difference between the predicted and realised risk of a portfolio, leading to an improved risk profile for a fund of hedge funds.

  2. Equity Mutual Fund: Performances, Persistence and Fund Rankings

    Directory of Open Access Journals (Sweden)

    Amporn SOONGSWANG

    2011-10-01

    Full Text Available This study focuses on open-ended equity mutual funds in Thailand. The funds’ performances were examined whether the returns significantly and persistently out-perform the market; whether the use of different measures leads funds with similar rankings. The analyses use various metrics: the traditional fund performance evaluation measures and Data Envelopment Analysis (DEA technique; Pearson’s correlation coefficients, and cover six different investment horizons. The results suggest that open-ended equity mutual funds analyzed in this study significantly out-perform the market, and the funds’ positive performance sustains for 3-month time-period of investment, at least. The top five funds managed by the Aberdeen, Bangkok Bank and Siam Commercial Bank Asset Management Companies out-perform the bottom five funds between 0.1912 and 1.3187 for six time-periods of investment from 1-month to 5-year. Finally, it is concluded that for individual investors, the results provided by this study can be guidelines for selecting mutual funds for investment.

  3. 浅谈独立学院贫困生资助管理工作的几点思考--以江苏科技大学苏州理工学院为例%The Fund Management Work to Poor Students in Independent College:Taking Suzhou Institute of Technology,Jiangsu University of Science and Technology as an Example

    Institute of Scientific and Technical Information of China (English)

    曾慧

    2014-01-01

    当前高校贫困生人数和比例呈上升趋势,高校贫困生资助管理工作应与时俱进,应把高校贫困生帮扶与教育相结合,把物质救助手段与精神鼓励手段结合起来,全面、系统的做好高校贫困生的资助管理工作。%The number and proportion of poor students in colleges is on the rise, the fund management work to poor students in colleges work should advance with the times, we should combine the help and education for poor students in colleges and universities, and unify the material relief means and spiritual encouragement method, do the fund management work to poor students comprehensively and systematically.

  4. Data Transparency in Privately Funded Scientific Research

    Science.gov (United States)

    Brewer, P. G.

    2016-12-01

    Research investigations funded by the Gulf of Mexico Research Initiative (GoMRI) have resulted in a large pulse of scientific data produced by studies ranging across the research goals of the program. These studies have produced datasets from laboratory, field, and modeling activities describing phenomenon ranging from microscopic fluid dynamics to large-scale ocean currents, bacteria to marine mammals, and detailed field observations to synoptic mapping. One of GoMRI's central tenets is to ensure that all data are preserved and made publicly available. Thus, GoMRI formed the Gulf of Mexico Research Initiative Data and Information Cooperative (GRIIDC) with the mission to ensure a data and information legacy that promotes continual scientific discovery and public awareness of the Gulf of Mexico ecosystem. The GoMRI Research Board commitment to open data is exemplified in GoMRI's data program policies and management. The Research Board established a policy that research data must be publically available as soon as possible and no later than one year following collection or at the time of publication. GRIIDC's data specialists, and computer system experts along with a team of researchers funded by GOMRI and GoMRI Research Board members developed a data management system and process for storing and distributing all of the scientific data generated by the GoMRI researchers. Researcher compliance with the data policy is a requirement for annual funding increments, No Cost Extensions, and eligibility for future funding. Since data compliance is an important element of grant performance compliance with GOMRI data policies data are actively tracked and reported to the Board. This initiative comprises an essential component of GoMRI's research independence and legacy.

  5. 75 FR 77190 - Exemptions for Advisers to Venture Capital Funds, Private Fund Advisers With Less Than $150...

    Science.gov (United States)

    2010-12-10

    ... Contents I. Background II. Discussion A. Definition of Venture Capital Fund 1. Qualifying Portfolio... Text of Proposed Rules I. Background On July 21, 2010, President Obama signed into law the Dodd-Frank... enterprises'' (``SMEs'') are defined as non-subsidiary, independent firms employing fewer than the number...

  6. 独立、中立、多元--美国卡托研究所%Independent, Neutral and Pluralistic--the Cato Institute in the United States

    Institute of Scientific and Technical Information of China (English)

    李倩雅

    2016-01-01

    Editor's note:Cato Institute is a public policy institute in the United States, and also a think-tank which is committed to individual liberty, limited government, free markets and the principle of peace. In the University of Pennsylvania’s《2013 Global Go To Think Tanks Report》on top think-tank ranking of education policy, the Cato Institute ranked the second, and in 2014 the fourth. In the Think Tank Performance Index of the Center for Global Development in US, it is ranked the ifrst. The ranking is determined by performance indicators, such as:media inlfuence, academic references, Internet use and so on. Scholars of the Cato Institute conduct independent, nonpartisan and extensive studies on policy issues. Through literature and interview method and other ways, our special correspondent gives his description of the general running of the Think Tank and the research focus on several issues, in order to help the construction and development of an education think-tank in China.

  7. Pension funds investments in hedge funds-a necessary regulation

    Directory of Open Access Journals (Sweden)

    Daniela Gaftoniuc

    2010-12-01

    Full Text Available When it comes to investment strategies, generally, pension funds have proved to be conservative investors with a long term approach on investments and constant preoccupation for asset diversification as well as tendencies to secure their portfolios through investments in established financial products. Nevertheless, within this constant preoccupation for portfolio diversification as well as gain of notable profits, private pension funds have invested to a certain degree also in less cautious products respectively have conducted less stable investments. The financial turbulences that hit the US towards the end of 2007 and spread globally to become one of the most severe financial crisis witnessed, haven’t left pension funds immune to this phenomenon. Although, as previously stated, the special feature of pension funds is based on long term investments, which confers a certain degree of natural protection, there can not be the talk of absolute immunity either.

  8. 7 CFR 4280.193 - Combined funding.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Combined funding. 4280.193 Section 4280.193... Efficiency Improvements Program Section D. Combined Funding § 4280.193 Combined funding. The requirements for... if the project meets the requirements specified in § 4280.109. (b) Funding. Funding provided...

  9. 14 CFR 1274.918 - Incremental funding.

    Science.gov (United States)

    2010-01-01

    ... 14 Aeronautics and Space 5 2010-01-01 2010-01-01 false Incremental funding. 1274.918 Section 1274... COMMERCIAL FIRMS Other Provisions and Special Conditions § 1274.918 Incremental funding. Incremental Funding... Agreement, as required, until it is fully funded. Any work beyond the funding limit will be at the...

  10. 24 CFR 214.311 - Funding.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Funding. 214.311 Section 214.311... PROGRAM Program Administration § 214.311 Funding. (a) HUD funding. HUD approval or program participation does not guarantee funding from HUD. Funding for the Housing Counseling program depends...

  11. 7 CFR 1789.153 - Borrower funding.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 12 2010-01-01 2010-01-01 false Borrower funding. 1789.153 Section 1789.153... Consultant Services Funded by Borrowers-General § 1789.153 Borrower funding. Borrowers shall use their general funds for the purposes of funding consultant services hereunder. Borrowers may not use...

  12. 12 CFR 615.5010 - Funding Corporation.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Funding Corporation. 615.5010 Section 615.5010... POLICIES AND OPERATIONS, AND FUNDING OPERATIONS Funding § 615.5010 Funding Corporation. (a) The Funding Corporation shall issue, market, and handle the obligations of the banks issued under section 4.2(b)...

  13. 77 FR 5232 - Notice of Funding Availability (NOFA) for Repowering Assistance Payments to Eligible Biorefineries

    Science.gov (United States)

    2012-02-02

    ... Rural Business-Cooperative Service Notice of Funding Availability (NOFA) for Repowering Assistance..., Rural Development-Energy Division, Program Branch, Attention: Repowering Assistance Program, 1400...-Energy Division, Program Branch, Attention: Repowering Assistance Program, 1400 Independence Avenue...

  14. Independent technical review of the Pinellas Plant

    Energy Technology Data Exchange (ETDEWEB)

    1994-07-01

    This report documents an Independent Technical Review (ITR) of facilities, organizations, plans, activities and various other elements required to successfully transition the Pinellas Plant from Defense Program (DP) funded operation to either community developed reuse or safe deactivation leading to decontamination and decommissioning (D&D). The review was conducted at the request of the Department of Energy (DOE) Deputy Assistant Secretary for Facility Transition and Management (EM-60) and is a consensus of the nine member ITR Team.

  15. Report from the Pension Fund

    CERN Multimedia

    2012-01-01

    In this column, the Chairman of the Pension Fund Governing Board (PFGB) presents the Board's latest main decisions, initiatives and accomplishments to the Fund's members and beneficiaries.   Since my last report in July, the Fund has continued the implementation of its capital preservation approach with encouraging results. There have also been several communication events focusing, in particular, on the Fund’s governance and its investment processes. At the September sessions of the Finance Committee and Council, the Chairman of the Pension Fund Investment Committee, Dr Sigurd Lettow, gave comprehensive presentations on the governance and operations of the Fund’s Investment Committee. The Investment Committee is the subsidiary and expert body of the PFGB on investments. Its mandate is to define the process according to which the Fund’s assets - which amount to approximately 3.7 billion Swiss Francs - are invested, and to supervise the implem...

  16. Drinking Water State Revolving Fund

    Data.gov (United States)

    U.S. Environmental Protection Agency — The Drinking Water State Revolving Fund (DWSRF) National Information Management System collects information that provide a record of progress and accountability for...

  17. Pacific Coastal Salmon Recovery Fund

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Congress established the Pacific Coastal Salmon Recovery Fund (PCSRF) to monitor the restoration and conservation of Pacific salmon and steelhead populations and...

  18. The rise of Asian sovereign wealth funds

    OpenAIRE

    2015-01-01

    This Asia Focus provides an overview of sovereign wealth funds, evaluates the structure and activities of major funds in Asia, and compares the transparency of Asian funds relative to international best practices.

  19. Let's Get Funded. Guidelines for Outstanding Grants.

    Science.gov (United States)

    Stopka, Christine Boyd; Beland, Robert M.

    1989-01-01

    This article provides guidelines for schools, agencies and individuals seeking funding for physical education-related programs and activities. Discussed are sources of funding, procedures for preparing grant proposals, and sources of information about available funds. (IAH)

  20. Managed Features and Hedge Funds:

    OpenAIRE

    Harry M. Kat

    2002-01-01

    In this paper we study the possible role of managed futures in portfolios of stocks, bonds and hedge funds. We find that allocating to managed futures allow investors to achieve a very substantial degree of overall risk reduction at limited costs. Apart from their lower expected return, managed futures appear to be more effective diversifiers than hedge funds. Adding managed futures to a portfolio of stocks and bonds will reduce that portfolio’s standard deviation more and quicker than hedge ...

  1. Farmer Training Fund Set Up

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    <正>On the afternoon of February 12, 2007, the China Friendship Foundation for Peace and Development (CFFPD) held the inauguration of the Farmer Training Fund and a press conference. Li Xiaolin, CPAFFC vice president and chairman of the Board of Directors of the CFFPD, who announced the inauguration, said, the Farmer Training Fund is set up by the CFFPD timely in response to the Party’s call of "building a new socialist countryside" and a

  2. Hedge funds and financial stability.

    OpenAIRE

    Draghi, J M.

    2007-01-01

    Much has been achieved to date in containing the financial stability risks that hedge funds could pose, while avoiding unnecessary restrictions that would distort market forces and prevent hedge funds from continuing to play their role in today’s markets. But in a continuously changing financial market environment, sustained attention is required by market participants and supervisory authorities to assess ongoing market developments and address any weaknesses in counterparty risk management ...

  3. Are Independent Fiscal Institutions Really Independent?

    Directory of Open Access Journals (Sweden)

    Slawomir Franek

    2015-08-01

    Full Text Available In the last decade the number of independent fiscal institutions (known also as fiscal councils has tripled. They play an important oversight role over fiscal policy-making in democratic societies, especially as they seek to restore public finance stability in the wake of the recent financial crisis. Although common functions of such institutions include a role in analysis of fiscal policy, forecasting, monitoring compliance with fiscal rules or costing of spending proposals, their roles, resources and structures vary considerably across countries. The aim of the article is to determine the degree of independence of such institutions based on the analysis of the independence index of independent fiscal institutions. The analysis of this index values may be useful to determine the relations between the degree of independence of fiscal councils and fiscal performance of particular countries. The data used to calculate the index values will be derived from European Commission and IMF, which collect sets of information about characteristics of activity of fiscal councils.

  4. Farms and funds: investment funds in the global land rush

    Energy Technology Data Exchange (ETDEWEB)

    Buxton, Abbi; Campanale, Mark; Cotula, Lorenzo

    2012-01-15

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

  5. Investor Attrition and Fund Flows in Mutual Funds

    DEFF Research Database (Denmark)

    Christoffersen, Susan E. K.; Xu, Haoyu

    2017-01-01

    We explore the properties of equity mutual funds that experience a loss of assets after poor performance. We document that both inflows and outflows are less sensitive to performance, because performance-sensitive investors leave or decide not to invest after bad performance. Consistent with the ......We explore the properties of equity mutual funds that experience a loss of assets after poor performance. We document that both inflows and outflows are less sensitive to performance, because performance-sensitive investors leave or decide not to invest after bad performance. Consistent......–performance sensitivity when attrition arises after good performance or investors invest for nonperformance reasons....

  6. Central Bank independence

    Directory of Open Access Journals (Sweden)

    Vasile DEDU

    2012-08-01

    Full Text Available In this paper we present the key aspects regarding central bank’s independence. Most economists consider that the factor which positively influences the efficiency of monetary policy measures is the high independence of the central bank. We determined that the National Bank of Romania (NBR has a high degree of independence. NBR has both goal and instrument independence. We also consider that the hike of NBR’s independence played an important role in the significant disinflation process, as headline inflation dropped inside the targeted band of 3% ± 1 percentage point recently.

  7. Pension Fund - ELECTIONS - Irene SEIS

    CERN Multimedia

    2002-01-01

    CERN - EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH PENSION FUND   This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate: Name: SEIS First Name : Irene Our Pension Fund (that of CERN and ESO personnel) is for most of us the only social protection when we retire. Its purpose is to give us a pension, which permits to maintain a certain standard of living for us, and for our dependants. I have worked in the Governing Board of the Pension Fund, as well as in numerous working groups on pension matters, since 11 years, either in my role as a Staff Association delegate, or as a member of the Governing Board. In both environments, I defend the principles of solidarity, which are part of our social security system, and I stand up for maintaining its primary principle, being a defined benefit scheme. Another of my preoccupations is the long-term future of the fund, including the gu...

  8. Funding and future diagnosis related group development.

    Science.gov (United States)

    Vertrees, J C

    2001-07-01

    Diagnosis Related Groups (DRGs) are widely used for a variety of purposes including quality improvement, hospital output measurement and funding. DRGs are a patient classification scheme which provides a means of relating the type of patients a hospital treats (i.e., its casemix) to the costs incurred by the hospital. This is done by classifying patients into mutually exclusive groups based on the patient's principal diagnosis and other information. The original Health Care Financing Administration DRGs (HCFA DRGs) have been in use since 1982. This document provides an overview of future directions for the newer DRG systems and it provides a framework for understanding the use of DRGs for funding. Newer DRG systems incorporate explicit adjustment for severity of illness, include separate measures for the likelihood of mortality, and are more independent of the underlying coding systems (e.g., ICD-10 for diagnoses, ICD-9-CM for procedures). The framework for a casemix-based budgeting system consists of five basic aspects. They are: 1) Categories--which kind of DRG will be the basis for the casemix system; 2) Relative Weights--relative weights reflect the expected cost of a case in one DRG relative to the expected cost of the average patient; 3) Base Rates/Pricing--the base rate converts the relative values to prices or budgets; 4) Adjustments--adjustments account for exogenous factors; 5) Transition Policy--this provides time so hospital administrators can learn to respond to the incentives contained in the DRG system.

  9. Establishing Contributions to an Insurance Fund

    Science.gov (United States)

    Fiering, Myron B.

    1982-04-01

    The recent literature in water resource planning suggests several techniques for resolution of conflict and uncertainty in the planning process. Multiobjective planning is a societal reality which must be handled if rational plans are to be developed and assessed in an unambiguous fashion. This paper considers the application of an insurance or sinking fund to cases with stochastic system response and in particular deals with the theory of decision-making for projects in which the uncertainties in benefit to the competing parties or interest groups are not independent. In effect, the paper develops a rule for incentive or side payments which accommodate the extent to which benefits to the parties cannot be decoupled.

  10. 23 CFR 646.208 - Funding.

    Science.gov (United States)

    2010-04-01

    ... 23 Highways 1 2010-04-01 2010-04-01 false Funding. 646.208 Section 646.208 Highways FEDERAL...-Highway Projects § 646.208 Funding. (a) Railroad/highway crossing projects may be funded through the Federal-aid funding source appropriate for the involved project. (b) Projects for the elimination...

  11. 30 CFR 795.11 - Assistance funding.

    Science.gov (United States)

    2010-07-01

    ... 30 Mineral Resources 3 2010-07-01 2010-07-01 false Assistance funding. 795.11 Section 795.11 Mineral Resources OFFICE OF SURFACE MINING RECLAMATION AND ENFORCEMENT, DEPARTMENT OF THE INTERIOR SMALL... funding. (a) Use of funds. Funds specifically authorized for this program shall be used to provide...

  12. 36 CFR 330.7 - Funding.

    Science.gov (United States)

    2010-07-01

    ... 36 Parks, Forests, and Public Property 3 2010-07-01 2010-07-01 false Funding. 330.7 Section 330.7... § 330.7 Funding. (a) Section 330.3(c) sets forth the maximum authorized funds for law enforcement contracting in FY 1978 and FY 1979. The Division funding levels for FY 1978 are based on information...

  13. 24 CFR 904.206 - Funding.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Funding. 904.206 Section 904.206... HOUSING HOMEOWNERSHIP OPPORTUNITIES Homeownership Counseling and Training § 904.206 Funding. (a) Source of funds. For purpose of funding counseling and training pursuant to this subpart and for establishing...

  14. 24 CFR 965.305 - Funding.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Funding. 965.305 Section 965.305... LEASED PROJECTS-GENERAL PROVISIONS Energy Audits and Energy Conservation Measures § 965.305 Funding. (a... modernization program, for funding from any available development funds in the case of projects still...

  15. 50 CFR 253.23 - Other funds.

    Science.gov (United States)

    2010-10-01

    ... 50 Wildlife and Fisheries 7 2010-10-01 2010-10-01 false Other funds. 253.23 Section 253.23... Other funds. (a) Funds for disaster assistance. (1) The Secretary shall retain sole authority in... been compensated by other Federal or State programs. (b) Funds for interstate commissions....

  16. 12 CFR 619.9185 - Funding Corporation.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Funding Corporation. 619.9185 Section 619.9185 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM DEFINITIONS § 619.9185 Funding Corporation. The term Funding Corporation refers to the Federal Farm Credit Banks Funding...

  17. Research funding should reward unpredictability

    CERN Multimedia

    2008-01-01

    Particle-physics experiments can cost hundreds of millions or even billions of dollars and with that kind of money at stake, debates over which projects are worthy of funding can be heated and complex. While those who make big funding decisions try to be as objective as possible, the physicist Bruce Knuteson of the Massachusetts Institute of Technology in the US, believes that agencies would have a much better idea of where to spend their money if they quantified the "scientific merit" of particular research proposals

  18. Inside China's Sovereign Wealth Fund

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    @@Lou Jiwei,the head of China's now almost year-old sovereign wealth fund(SWF),the China Investment Corp(中国投资有限责任公司),has not had an easy time at his new job.One of the first headline purchases the fund made were discounted shares in the private equity group Blackstone.Bought pre-initial public offering for USD 19 per share,a discount on the USD 31 offering price,Blackstone's share value has subsequently halved.

  19. Essays on hedge fund performance and risk

    OpenAIRE

    Joenväärä, J. (Juha)

    2010-01-01

    Abstract This doctoral thesis aims to contribute to the literature on hedge fund performance and risk by conducting four interrelated essays. The first two essays measure and predict hedge fund performance using novel methodologies based on recent development in portfolio choice techniques. This new way to evaluate fund performance relies on economic theory and robust econometric principles. The first essay exploits hedge fund characteristics in order to pick right funds into a portfolio, ...

  20. Independent candidates in Mexico

    OpenAIRE

    Campos, Gonzalo Santiago

    2014-01-01

    In this paper we discuss the issue of independent candidates in Mexico, because through the so-called political reform of 2012 was incorporated in the Political Constitution of the Mexican United States the right of citizens to be registered as independent candidates. Also, in September 2013 was carried out a reform of Article 116 of the Political Constitution of the Mexican United States in order to allow independent candidates in each state of the Republic. However, prior to the constitutio...

  1. Central bank Financial Independence

    OpenAIRE

    J.Ramon Martinez-Resano

    2004-01-01

    Central bank independence is a multifaceted institutional design. The financial component has been seldom analysed. This paper intends to set a comprehensive conceptual background for central bank financial independence. Quite often central banks are modelled as robot like maximizers of some goal. This perspective neglects the fact that central bank functions are inevitably deployed on its balance sheet and have effects on its income statement. A financially independent central bank exhibits ...

  2. Gravity Independent Compressor Project

    Data.gov (United States)

    National Aeronautics and Space Administration — We propose to develop and demonstrate a small, gravity independent, vapor compression refrigeration system using a linear motor compressor which effectively...

  3. CTE Funding: An Uphill Battle

    Science.gov (United States)

    Baxter, Jamie

    2012-01-01

    For the last decade, career and technical education (CTE) funding has seen some ups, but mostly downs. While it received a modest increase in 2002, that increase was swept away in 2008 due to across-the-board cuts. It was difficult for CTE to receive another increase in the early 2000s because every year the Bush Administration proposed to either…

  4. Measuring Inequity in School Funding

    Science.gov (United States)

    Epstein, Diana

    2011-01-01

    Low-income children tend to be concentrated in low-income school districts, and these children often attend schools that receive far fewer resources per pupil despite their greater need. Since education is primarily a state responsibility, more than 90 percent of school funding comes from state and local sources, and the federal government…

  5. Amazon Fund: financing deforestation avoidance

    Directory of Open Access Journals (Sweden)

    Jacques Marcovitch

    2014-06-01

    Full Text Available The Amazon Fund, created in 2008 by the Brazilian Federal Government, is managed by Banco Nacional de Desenvolvimento Econômico e Social (BNDES. It is a pioneering initiative to fundraise and manage financial resources to cut back deforestation and support sustainable development for 30 million inhabitants in the Amazon Biome. The Amazon Fund has already received more than R$ 1.7 billion in grants (about USD 787 million. This essay analyzes the Amazon Fund's governance and management with focus on its operation and from its stakeholders' perspectives. A combination of research methods includes: documental research, in-depth interviews, and speech analysis. The study offers a comparative analysis of strengths and weaknesses related to its governance. Furthermore, it proposes ways to improve its management towards greater effectiveness. The essay also includes an assessment of the government of Norway, a major donor to the fund. The governments of Norway and Germany, in partnership with Brazil, reveal how important it is to experiment with new means of international cooperation to successfully reduce greenhouse gas emissions through rainforest preservation.

  6. School Funding System and Equity

    Science.gov (United States)

    Tabatadze, Shalva; Gorgadze, Natia

    2014-01-01

    The aim of this research is to study the effectiveness of general education funding system from the perspective of equal and equal educational opportunities for all in Georgia. Following the objective, the research aimed to respond three main research questions: 1. is the school financing formula effective and efficient enough to be administrated…

  7. The sustainability of green funds

    NARCIS (Netherlands)

    Scholtens, B.

    2011-01-01

    This paper analyses the performance of the Dutch "Green Funds Scheme". This scheme is a policy instrument to advance green projects. The scheme relies on tax compensation for private investors who save or invest in green institutions below market returns. The green institutions select and monitor ce

  8. Radical review of NHS funding.

    Science.gov (United States)

    1988-02-06

    The Government is to carry out a radical review of the way the NHS is funded, Prime Minister Margaret Thatcher confirmed last week. And she hinted that she herself would be taking a leading role in drawing up proposals for reform.

  9. Programs Suffer Cuts in Funding

    Science.gov (United States)

    Klein, Alyson

    2011-01-01

    More than a dozen education programs--including high-profile efforts focused on literacy, teaching, and learning--face the prospect of a permanent federal funding loss after they were chopped from a stopgap spending measure signed into law by President Barack Obama last week. The temporary spending law, intended to keep the government running…

  10. 39 CFR 3060.43 - Annual transfer from competitive products fund to Postal Service fund.

    Science.gov (United States)

    2010-07-01

    ... 39 Postal Service 1 2010-07-01 2010-07-01 false Annual transfer from competitive products fund to... transfer from competitive products fund to Postal Service fund. (a) The Postal Service must on an annual... Products Fund to the Postal Service Fund. (b) If the assumed taxable income from competitive products for...

  11. 78 FR 14594 - Forward Funds, et al.; Notice of Application

    Science.gov (United States)

    2013-03-06

    ... concerns about undue influence by a fund of funds over underlying funds, excessive layering of fees, and... arrangement will not result in the exercise of undue influence by an Investing Fund or an Investing Fund... potential for undue influence over the Funds, including that no Investing Fund or Investing Fund Affiliate...

  12. Accounting for Independent Schools.

    Science.gov (United States)

    Sonenstein, Burton

    The diversity of independent schools in size, function, and mode of operation has resulted in a considerable variety of accounting principles and practices. This lack of uniformity has tended to make understanding, evaluation, and comparison of independent schools' financial statements a difficult and sometimes impossible task. This manual has…

  13. Independence of Internal Auditors.

    Science.gov (United States)

    Montondon, Lucille; Meixner, Wilda F.

    1993-01-01

    A survey of 288 college and university auditors investigated patterns in their appointment, reporting, and supervisory practices as indicators of independence and objectivity. Results indicate a weakness in the positioning of internal auditing within institutions, possibly compromising auditor independence. Because the auditing function is…

  14. Fostering Musical Independence

    Science.gov (United States)

    Shieh, Eric; Allsup, Randall Everett

    2016-01-01

    Musical independence has always been an essential aim of musical instruction. But this objective can refer to everything from high levels of musical expertise to more student choice in the classroom. While most conceptualizations of musical independence emphasize the demonstration of knowledge and skills within particular music traditions, this…

  15. On Background Independence

    CERN Document Server

    Anderson, Edward

    2013-01-01

    This paper concerns what Background Independence itself is (as opposed to some particular physical theory that is background independent). The notions presented mostly arose from a layer-by-layer analysis of the facets of the Problem of Time in Quantum Gravity. Part of this coincides with two relational postulates which are thus identified as classical precursors of two of the facets of the Problem of Time. These are furthemore tied to the forms of each of the GR Hamiltonian and momentum constraints. Other aspects of Background Independence include the algebraic closure of these constraints, expressing physics in terms of beables, foliation independence as implemented by refoliation invariance, the reconstruction of spacetime from space. The final picture is that Background Independence - a philosophically desirable and physically implementable feature for a theory to have - has the facets of the Problem of Time among its consequences. Thus these arise naturally and are problems to be resolved, as opposed to ...

  16. Funds for Peace? Examining the Transformative Potential of Social Funds

    Directory of Open Access Journals (Sweden)

    Richard Mallett

    2013-09-01

    Full Text Available Social funds and large-scale community driven development (CDD programmes are a popular policy instrument in post-conflict situations. This is partly because they are seen to alleviate pressure on governments to deliver development and reconstruction outcomes by transferring resources and responsibilities to community actors. However, part of their popularity can also be explained by claims that social funds and CDD programmes have the (transformative potential to generate impacts beyond meeting basic needs, such as creating more peaceful societies at the local level and promoting trust in government. Drawing on a rigorous, evidence focused literature review, which began with researchers following a formal systematic review protocol, this practice note assesses the performance of 13 programmes against three distinct sets of impact indicators: (i incomes, enterprise and access to services; (ii social cohesion, stability and violence; and (iii state-society relations. It is concluded that, although our understanding of the effectiveness of social funds and CDD in conflict-affected environments is limited by a low number of rigorous evaluations across a diverse range of contexts, as well as by an insufficient investigation of the relevant causal mechanisms, the findings so far suggest cause for cautious optimism.

  17. Probabilistic conditional independence structures

    CERN Document Server

    Studeny, Milan

    2005-01-01

    Probabilistic Conditional Independence Structures provides the mathematical description of probabilistic conditional independence structures; the author uses non-graphical methods of their description, and takes an algebraic approach.The monograph presents the methods of structural imsets and supermodular functions, and deals with independence implication and equivalence of structural imsets.Motivation, mathematical foundations and areas of application are included, and a rough overview of graphical methods is also given.In particular, the author has been careful to use suitable terminology, and presents the work so that it will be understood by both statisticians, and by researchers in artificial intelligence.The necessary elementary mathematical notions are recalled in an appendix.

  18. Program development fund: FY 1987

    Energy Technology Data Exchange (ETDEWEB)

    1989-03-01

    It is the objective of the Fund to encourage innovative research to maintain the Laboratory's position at the forefront of science. Funds are used to explore new ideas and concepts that may potentially develop into new directions of research for the Laboratory and that are consistent with the major needs, overall goals, and mission of the Laboratory and the DOE. The types of projects eligible for support from PDF include: work in forefront areas of science and technology for the primary purpose of enriching Laboratory research and development capabilities; advanced study of new hypotheses, new experimental concepts, or innovative approaches to energy problems; experiments directed toward ''proof of principle'' or early determination of the utility of a new concept; and conception, design analyses, and development of experimental devices, instruments, or components. This report is a review of these research programs.

  19. International Oil Pollution Compensation Fund

    Energy Technology Data Exchange (ETDEWEB)

    1979-11-01

    The International Oil Pollution Compensation Fund was established under a 1971 Intergovernmental Maritime Consultative Organization Convention to supplement the 1969 Civil Liability Convention (CLC) under which shipowners were held liable for damage caused by oil spills up to $18 million per incident; the new fund increases the amount payable per incident to $57 million as of April 1979. A further increase up to about $76 million is now under consideration. During 1979, the Fund has been concerned in particular with claims arising out of oil spills in Japan and the Baltic Sea. In the former case, some 540 tons of oil was lost by Miya Maru No. 8 after a collision in March 1979 in the Japanese Inland Sea; cleanup costs and compensation to fishermen were about (pound sterling)400,000. In the latter phase, crude oil apparently coming from the Russian tanker Antonio Gramsci, which grounded off Ventspils in February 1979, drifted across the Baltic and was trapped in or under the ice. After the ice melted, it spread to more than 2000 islands in the Swedish Archipelaso; cleanup measures may result in claims as high as (pound sterling) 8 million.

  20. Manager-Investor Conflicts in Mutual Funds

    National Research Council Canada - National Science Library

    Mahoney, Paul G

    2004-01-01

    .... After providing some basic institutional details, it focuses on the cash flows from mutual fund investors to fund managers, brokers, and other third parties and the associated conflicts of interest...

  1. Peer review, program officers and science funding.

    Directory of Open Access Journals (Sweden)

    Paul J Roebber

    Full Text Available Increased competition for research funding has led to growth in proposal submissions and lower funding-success rates. An agent-based model of the funding cycle, accounting for variations in program officer and reviewer behaviors, for a range of funding rates, is used to assess the efficiency of different proposal-submission strategies. Program officers who use more reviewers and require consensus can improve the chances of scientists submitting fewer proposals. Selfish or negligent reviewers reduce the effectiveness of submitting more proposals, but have less influence as available funding declines. Policies designed to decrease proposal submissions reduce reviewer workload, but can lower the quality of funded proposals. When available funding falls below 10-15% in this model, the most effective strategy for scientists to maintain funding is to submit many proposals.

  2. 2001-2008 BBG Funding Overview

    Data.gov (United States)

    Broadcasting Board of Governors — This dataset presents BBG funding by Agency component for the period between FY 2001 and FY 2008. The data covers funding for each BBG broadcasting entity and for...

  3. Mutual Fund Flight-to-Liquidity

    DEFF Research Database (Denmark)

    Rzeznik, Aleksandra

    of their portfolio towards more liquid assets in order to meet potential redemptions. This causal chain is consistent with Vayanos (2004), who argues that fund managers are investors with time-varying liquidity preferences due to threat of withdrawal. Aggregated over funds, the effect is substantial: a one standard......This paper examines the liquidity choices of mutual funds during times of market uncertainty. I find that when markets are uncertain, mutual funds actively increase the liquidity of their portfolio { often referred to as a `flight-to-liquidity.' In aggregate, mutual fund behaviour has implications...... for the market; the market driven flight-toliquidity places upward pressure on the liquidity premium. I examine the underlying mechanisms driving fund behaviour. I show that market volatility is associated with lower fund performance and withdrawals, which causes funds to adjust the composition...

  4. The Investment Strategies of Sovereign Wealth Funds

    OpenAIRE

    2009-01-01

    Sovereign wealth funds have emerged as major investors in corporate and real resources worldwide. After an overview of their magnitude, we consider the institutional arrangements under which many of the sovereign wealth funds operate. We focus on a specific set of agency problems that is of first-order importance for these funds: that is, the direct involvement of political leaders in the management process. We show that sovereign wealth funds with greater involvement of political leaders in ...

  5. Evaluating and Investing in Equity Mutual Funds

    OpenAIRE

    2000-01-01

    Our framework for evaluating and investing in mutual funds combines observed returns on funds and passive assets with prior beliefs that distinguish pricing-model inaccuracy from managerial skill. A fund's alpha' is defined using passive benchmarks. We show that returns on non-benchmark passive assets help estimate that alpha more precisely for most funds. The resulting estimates generally vary less than standard estimates across alternative benchmark specifications. Optimal portfolios constr...

  6. Pension Funding in the Public Sector

    OpenAIRE

    Olivia S. Mitchell; Smith, Robert S.

    1991-01-01

    This paper explores the determinants of pension funding in the public sector. We formulate and test several hypotheses about the determinants of public employer pension funding practices, using a new data set describing financial and other characteristics of state, local, and teacher plans. The data show that, on average, public sector pension plans were relatively well-funded during the late 1980s. There were, however, wide variations in funding practices in our sample. Our analysis of these...

  7. 75 FR 75376 - Capital Magnet Fund

    Science.gov (United States)

    2010-12-03

    ... capacity of financial institutions to provide capital, credit and financial services in underserved markets... Community Development Financial Institutions Fund 12 CFR Part 1807 RIN 1559-AA00 Capital Magnet Fund AGENCY: Community Development Financial Institutions Fund, Department of the Treasury. ACTION: Interim rule...

  8. 22 CFR 20.2 - Funding.

    Science.gov (United States)

    2010-04-01

    ... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Funding. 20.2 Section 20.2 Foreign Relations DEPARTMENT OF STATE PERSONNEL BENEFITS FOR CERTAIN FORMER SPOUSES § 20.2 Funding. Benefits under this part are paid from the Fund maintained by the Secretary of the Treasury pursuant to section 802 of the...

  9. 13 CFR 130.500 - Funding.

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Funding. 130.500 Section 130.500 Business Credit and Assistance SMALL BUSINESS ADMINISTRATION SMALL BUSINESS DEVELOPMENT CENTERS § 130.500 Funding. The SBA funds Cooperative Agreements through its internal Letter of Credit Replacement...

  10. 24 CFR 965.403 - Funding.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Funding. 965.403 Section 965.403....403 Funding. The cost to change mastermeter systems to individual metering of resident consumption... this purpose, such costs are eligible for inclusion in a modernization project or for funding from...

  11. 7 CFR 281.9 - Funding.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 4 2010-01-01 2010-01-01 false Funding. 281.9 Section 281.9 Agriculture Regulations of the Department of Agriculture (Continued) FOOD AND NUTRITION SERVICE, DEPARTMENT OF AGRICULTURE... RESERVATIONS § 281.9 Funding. (a) Agency of State government. From the funds available to carry out...

  12. 32 CFR 239.8 - Funding.

    Science.gov (United States)

    2010-07-01

    ... 32 National Defense 2 2010-07-01 2010-07-01 false Funding. 239.8 Section 239.8 National Defense Department of Defense (Continued) OFFICE OF THE SECRETARY OF DEFENSE (CONTINUED) MISCELLANEOUS HOMEOWNERS ASSISTANCE PROGRAM-APPLICATION PROCESSING § 239.8 Funding. (a) Revolving Fund Account. The revolving...

  13. 28 CFR 551.36 - Funding.

    Science.gov (United States)

    2010-07-01

    ... 28 Judicial Administration 2 2010-07-01 2010-07-01 false Funding. 551.36 Section 551.36 Judicial Administration BUREAU OF PRISONS, DEPARTMENT OF JUSTICE INSTITUTIONAL MANAGEMENT MISCELLANEOUS Inmate Organizations § 551.36 Funding. The Bureau of Prisons may fund approved activities of inmate organizations...

  14. 46 CFR 385.38 - Joint funding.

    Science.gov (United States)

    2010-10-01

    ... 46 Shipping 8 2010-10-01 2010-10-01 false Joint funding. 385.38 Section 385.38 Shipping MARITIME... AGREEMENTS REGULATIONS General Policies § 385.38 Joint funding. (a) Pursuant to section 10(c) of the Act, MarAd is authorized to participate in joint funded projects with other Federal agencies in any...

  15. 7 CFR 285.2 - Funding.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 4 2010-01-01 2010-01-01 false Funding. 285.2 Section 285.2 Agriculture Regulations... OF PUERTO RICO § 285.2 Funding. (a) FNS shall, consistent with the plan of operation required by... nutrition assistance program eligible for funding, whichever is less, for that fiscal year. (c) FNS...

  16. 7 CFR 282.2 - Funding.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 4 2010-01-01 2010-01-01 false Funding. 282.2 Section 282.2 Agriculture Regulations... Funding. Federal financial participation may be made available to demonstration, research, and evaluation... approval. Funding for additional costs is subject to existing Federal grant and contract procedures....

  17. 7 CFR 4280.110 - Grant funding.

    Science.gov (United States)

    2010-01-01

    ...-kind contributions are acceptable in accordance with 7 CFR part 3015 of this title. (2) Passive third... 7 Agriculture 15 2010-01-01 2010-01-01 false Grant funding. 4280.110 Section 4280.110 Agriculture... Improvements Program Section A. Grants § 4280.110 Grant funding. (a) The amount of grant funds that will...

  18. 7 CFR 227.5 - Program funding.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 4 2010-01-01 2010-01-01 false Program funding. 227.5 Section 227.5 Agriculture... CHILD NUTRITION PROGRAMS NUTRITION EDUCATION AND TRAINING PROGRAM General § 227.5 Program funding. (a... agencies shall maintain their present level of funding for existing nutrition education and...

  19. 14 CFR 1260.53 - Incremental funding.

    Science.gov (United States)

    2010-01-01

    ... 14 Aeronautics and Space 5 2010-01-01 2010-01-01 false Incremental funding. 1260.53 Section 1260.53 Aeronautics and Space NATIONAL AERONAUTICS AND SPACE ADMINISTRATION GRANTS AND COOPERATIVE AGREEMENTS General Special Conditions § 1260.53 Incremental funding. Incremental Funding October 2000...

  20. 40 CFR 35.272 - Funding coordination.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Funding coordination. 35.272 Section 35.272 Protection of Environment ENVIRONMENTAL PROTECTION AGENCY GRANTS AND OTHER FEDERAL ASSISTANCE....272 Funding coordination. Recipients must use the lead-based paint program funding in a way...

  1. 40 CFR 35.691 - Funding coordination.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Funding coordination. 35.691 Section 35.691 Protection of Environment ENVIRONMENTAL PROTECTION AGENCY GRANTS AND OTHER FEDERAL ASSISTANCE...(g)) § 35.691 Funding coordination. Recipients must use the Lead-Based Paint program funding in a...

  2. A Brief History of California School Funding

    Science.gov (United States)

    Canfield, Jacquie

    2013-01-01

    In January 2013, the governor proposed a new funding model for California school districts called the Local Control Funding Formula. As the Legislature debates the proposed new funding model for schools, which is expected to start in the 2013-14 fiscal year, the author thought it would be a good time for a history lesson in California school…

  3. 28 CFR 33.20 - Fund availability.

    Science.gov (United States)

    2010-07-01

    ... 28 Judicial Administration 1 2010-07-01 2010-07-01 false Fund availability. 33.20 Section 33.20 Judicial Administration DEPARTMENT OF JUSTICE BUREAU OF JUSTICE ASSISTANCE GRANT PROGRAMS Criminal Justice Block Grants Allocation of Funds § 33.20 Fund availability. Section 407(a) of the Justice Assistance...

  4. 11 CFR 100.33 - Personal funds.

    Science.gov (United States)

    2010-01-01

    ... 11 Federal Elections 1 2010-01-01 2010-01-01 false Personal funds. 100.33 Section 100.33 Federal....33 Personal funds. Personal funds of a candidate means the sum of all of the following: (a) Assets... which the candidate is the beneficiary; (6) Gifts of a personal nature that had been...

  5. 28 CFR 23.30 - Funding guidelines.

    Science.gov (United States)

    2010-07-01

    ... 28 Judicial Administration 1 2010-07-01 2010-07-01 false Funding guidelines. 23.30 Section 23.30 Judicial Administration DEPARTMENT OF JUSTICE CRIMINAL INTELLIGENCE SYSTEMS OPERATING POLICIES § 23.30 Funding guidelines. The following funding guidelines shall apply to all Crime Control Act...

  6. 40 CFR 35.508 - Funding period.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Funding period. 35.508 Section 35.508... ASSISTANCE Environmental Program Grants for Tribes Preparing An Application § 35.508 Funding period. The Regional Administrator and applicant may negotiate the length of the funding period for environmental...

  7. 40 CFR 35.108 - Funding period.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Funding period. 35.108 Section 35.108... ASSISTANCE Environmental Program Grants Preparing An Application § 35.108 Funding period. The Regional Administrator and applicant may negotiate the length of the funding period for environmental program grants...

  8. Overseas Contingency Operations Funding: Background and Status

    Science.gov (United States)

    2017-02-07

    Operations Funding: Background and Status Congressional Research Service Summary The Department of Defense (DOD) estimates that through FY2016...Contingency Operations Funding: Background and Status Congressional Research Service Contents Introduction...Contingency Operations Funding: Background and Status Congressional Research Service 2 budget to which government financiers increasingly turn to

  9. 40 CFR 280.102 - Trust fund.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 26 2010-07-01 2010-07-01 false Trust fund. 280.102 Section 280.102...) Financial Responsibility § 280.102 Trust fund. (a) An owner or operator may satisfy the requirements of § 280.93 by establishing a trust fund that conforms to the requirements of this section. The...

  10. Procyclicality of pension fund regulation and behaviour

    NARCIS (Netherlands)

    W.E. Romp

    2013-01-01

    This paper studies the labour market effects of pension fund restoration plans at a business cycle frequency. During a recession, pension funds’ funding ratios typically drop significantly and regulations force funds to restore their buffers by increasing their contributions, lower future indexation

  11. 75 FR 53357 - Aston Funds, et al.; Notice of Application

    Science.gov (United States)

    2010-08-31

    ...), which include concerns about undue influence by a fund of funds over underlying funds, excessive... neither a Fund of Funds nor a Fund of Funds Affiliate would be able to exert undue influence over the... Subadviser (the ``Subadvisory Group''). Applicants propose other conditions to limit the potential for undue...

  12. Funding Mechanisms, Cost Drivers, and the Distribution of Education Funds in Alberta: A Case Study.

    Science.gov (United States)

    Neu, Dean; Taylor, Alison

    2000-01-01

    Critical analysis of historical financial data of the Calgary Board of Education (CBE) examined the impact of Alberta's 1994 funding changes on the CBE and the distribution of Alberta's education funding. Findings illustrate how funding mechanisms are used to govern from a distance and how seemingly neutral accounting/funding techniques function…

  13. 7 CFR 1781.20 - Disbursement of WS and RCD loan funds and WS advance funds.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 12 2010-01-01 2010-01-01 false Disbursement of WS and RCD loan funds and WS advance... (RCD) LOANS AND WATERSHED (WS) LOANS AND ADVANCES § 1781.20 Disbursement of WS and RCD loan funds and WS advance funds. (a) WS and RCD loan funds will be disbursed by the processing office in accordance...

  14. COMMERCIAL FUND, RECOGNITION AND ASSESSMENT

    Directory of Open Access Journals (Sweden)

    VIOREL TRIF

    2010-01-01

    Full Text Available The importance of the immaterial investments within companies nowadays urges the specialists in accounting to find the ways to present more in the elements. In their studies researchers face the controversy reinvestments, as an asset in the balance sheet or an expense in the profit or loss account. The main goal of this paper is to analyze the difficulties in commercial fund. In the first part we will analyze various definitions of the problems concerning the commercial fund’s recognition and assessment. The paper also suggests that investments are really social and economic problems.

  15. Research funding for telemedicine: an Australian perspective.

    Science.gov (United States)

    Barnett, Adrian G; Campbell, Megan J; Burns, Clare L

    2016-04-01

    Winning research funding is one of the most difficult challenges faced by researchers, especially with falling success rates and shrinking budgets. Telemedicine researchers can find it especially hard to win funding as they are often researching small changes to the health system that whilst important for patient care are often not as competitive as proposals that promise to cure diseases. In a climate of both tight health funding and tight research funding, telemedicine researchers should emphasise the potential for their research to add value and lower costs in order to increase their chances of winning funding.

  16. Distro’: Independent Creativity for Independent Industr

    Directory of Open Access Journals (Sweden)

    Wiwik Sri Wulandari

    2014-11-01

    Full Text Available To shortened this introduction, ‘Distro’ is one of cultural phenomenon in theyoung generation nowadays. The word of ‘Distro’ is the shortened of DistributionOutlet. The phenomenon of ‘Distro’ has been some kind of new trends inproducing and distributing creative design products of goods amongst theyoungsters independently, in an independence industry that open for challengingand competitiveness for everyone. This field research has been done in the city ofYogyakarta, reknown as the second city in creative design products after the cityof Bandung. Yogyakarta is welknown as the students’ city as well as the capital cityof culture of Indonesia. As a students’ city it is normal that Yogyakarta is growingin numbers of young people who pursued to study here and enriched the cultureof the city to become more multicultural and the varieties of pluralism as well.This sociocultural phenomenon not only brought some dynamic changing tosociety, economy and cultural life of the city, but also social problems that needsto be overcome. My first research question then is about how the existence of‘Distro’ in Yogyakarta can be a positive answer for social problems that may arisesfrom the hegemony of globalization markets domestically? My second questionis how the creative product designs are being made and distributed creatively inindependent industry? Lastly, my third question is dealling with the genres ofthe design products and how it can be a new trend in art expression? ‘Distro’ is aproduct of culture and it is also creating cultural change in some aspects of the lifeof the youngsters who are ‘Distro’ enthusiasts. ‘Distro’ phenomenon basically is anoffensive to the hegemony of internationally branded product design which turnsto become more over-dominated to the domestic markets and industry and thus,‘Distro’ has the spirit of survival whilts at the same time producing opportunity ofenterpreneurship

  17. Symmetry implies independence

    CERN Document Server

    Renner, R

    2007-01-01

    Given a quantum system consisting of many parts, we show that symmetry of the system's state, i.e., invariance under swappings of the subsystems, implies that almost all of its parts are virtually identical and independent of each other. This result generalises de Finetti's classical representation theorem for infinitely exchangeable sequences of random variables as well as its quantum-mechanical analogue. It has applications in various areas of physics as well as information theory and cryptography. For example, in experimental physics, one typically collects data by running a certain experiment many times, assuming that the individual runs are mutually independent. Our result can be used to justify this assumption.

  18. The Domino Effects of Federal Research Funding.

    Science.gov (United States)

    Lanahan, Lauren; Graddy-Reed, Alexandra; Feldman, Maryann P

    2016-01-01

    The extent to which federal investment in research crowds out or decreases incentives for investment from other funding sources remains an open question. Scholarship on research funding has focused on the relationship between federal and industry or, more comprehensively, non-federal funding without disentangling the other sources of research support that include nonprofit organizations and state and local governments. This paper extends our understanding of academic research support by considering the relationships between federal and non-federal funding sources provided by the National Science Foundation Higher Education Research and Development Survey. We examine whether federal research investment serves as a complement or substitute for state and local government, nonprofit, and industry research investment using the population of research-active academic science fields at U.S. doctoral granting institutions. We use a system of two equations that instruments with prior levels of both federal and non-federal funding sources and accounts for time-invariant academic institution-field effects through first differencing. We estimate that a 1% increase in federal research funding is associated with a 0.411% increase in nonprofit research funding, a 0.217% increase in state and local research funding, and a 0.468% increase in industry research funding, respectively. Results indicate that federal funding plays a fundamental role in inducing complementary investments from other funding sources, with impacts varying across academic division, research capacity, and institutional control.

  19. The Domino Effects of Federal Research Funding.

    Directory of Open Access Journals (Sweden)

    Lauren Lanahan

    Full Text Available The extent to which federal investment in research crowds out or decreases incentives for investment from other funding sources remains an open question. Scholarship on research funding has focused on the relationship between federal and industry or, more comprehensively, non-federal funding without disentangling the other sources of research support that include nonprofit organizations and state and local governments. This paper extends our understanding of academic research support by considering the relationships between federal and non-federal funding sources provided by the National Science Foundation Higher Education Research and Development Survey. We examine whether federal research investment serves as a complement or substitute for state and local government, nonprofit, and industry research investment using the population of research-active academic science fields at U.S. doctoral granting institutions. We use a system of two equations that instruments with prior levels of both federal and non-federal funding sources and accounts for time-invariant academic institution-field effects through first differencing. We estimate that a 1% increase in federal research funding is associated with a 0.411% increase in nonprofit research funding, a 0.217% increase in state and local research funding, and a 0.468% increase in industry research funding, respectively. Results indicate that federal funding plays a fundamental role in inducing complementary investments from other funding sources, with impacts varying across academic division, research capacity, and institutional control.

  20. Empirical study on mutual fund objective classification

    Institute of Scientific and Technical Information of China (English)

    金雪军; 杨晓兰

    2004-01-01

    Mutual funds are usually classified on the basis of their objectives. If the activities of mutual funds are consistent with their stated objectives, investors may look at the latter as signals of their risks and incomes. This work analyzes mutual fund objective classification in China by statistical methods of distance analysis and discriminant analysis; and examines whether the stated investment objectives of mutual funds adequately represent their attributes to investors. That is, if mutual funds adhere to their stated objectives, attributes must be heterogeneous between investment objective groups and homogeneous within them. Our conclusion is to some degree, the group of optimized exponential funds is heterogeneous to other groups. As a whole, there exist no significant differences between different objective groups; and 50% of mutual funds are not consistent with their objective groups.

  1. The Critical Independence Number and an Independence Decomposition

    CERN Document Server

    Larson, Craig Eric

    2009-01-01

    An independent set $I_c$ is a \\textit{critical independent set} if $|I_c| - |N(I_c)| \\geq |J| - |N(J)|$, for any independent set $J$. The \\textit{critical independence number} of a graph is the cardinality of a maximum critical independent set. This number is a lower bound for the independence number and can be computed in polynomial-time. Any graph can be decomposed into two subgraphs where the independence number of one subgraph equals its critical independence number, where the critical independence number of the other subgraph is zero, and where the sum of the independence numbers of the subgraphs is the independence number of the graph. A proof of a conjecture of Graffiti.pc yields a new characterization of K\\"{o}nig-Egervary graphs: these are exactly the graphs whose independence and critical independence numbers are equal.

  2. Independent School Administration.

    Science.gov (United States)

    Springer, E. Laurence

    This book deals with the management of privately supported schools and offers guidelines on how these schools might be operated more effectively and economically. The discussions and conclusions are based on observations and data from case studies of independent school operations. The subjects discussed include the role and organization of…

  3. Independence in appearance

    DEFF Research Database (Denmark)

    Warming-Rasmussen, Bent; Quick, Reiner; Liempd, Dennis van

    2011-01-01

    article presents research contributions to the question whether the auditor is to continue to provide both audit and non-audit services (NAS) to an audit client. Research results show that this double function for the same audit client is a problem for stakeholders' confidence in auditor independence...

  4. Governing Board of the Pension Fund

    CERN Multimedia

    2007-01-01

    The Governing Board of the Pension Fund held its 154th and 155th meetings on 13 and 26 June 2007 respectively. At the first of these two meetings, the Governing Board Chairman Professor F. Ferrini stated that a steering committee had been set up, under his own chairmanship, to examine the Fund’s IT issues. This Committee had decided to avail itself of the consultancy services of an independent audit company with recognised expertise in the IT field and that the latter should undertake a study of the Fund’s present IT situation, review its operational needs, offer a comparative analysis of the different solutions and submit an overall report and conclusions on the advantages and disadvantages of the various possible solutions. At the same meeting, the Governing Board was informed of the activities of the Working Group on Actuarial Matters. The Board heard that the results of the three-yearly actuarial review would be presented at its September meeting and that the Board�...

  5. Making activity-based funding work for mental health.

    Science.gov (United States)

    Rosenberg, Sebastian P; Hickie, Ian B

    2013-06-01

    The implementation of activity-based funding (ABF) in mental health from 1 July 2013 has significant risks and benefits. It is critical that the process of implementation is consistent with Australia's cherished goal of establishing a genuine and effective model of community-based mental health care. The infrastructure to support the application of ABF to mental health is currently weak and requires considerable development. States and territories are struggling to meet existing demand for largely hospital-based acute mental health care. There is a risk that valuable ABF-driven Commonwealth growth funds may be used to prop up these systems rather than drive the emergence of new models of community-based care. Some of these new models exist now and this article provides a short description. The aim is to help the Independent Hospital Pricing Authority better understand the landscape of mental health into which it now seeks to deploy ABF.

  6. 77 FR 65421 - Neuberger Berman Alternative Funds, et al.; Notice of Application

    Science.gov (United States)

    2012-10-26

    ... concerns about undue influence by a fund of funds over underlying funds, excessive layering of fees, and... arrangement will not result in the exercise of undue influence by a Fund of Funds or a Fund of Funds Affiliate... potential for undue influence over the Unaffiliated Funds, including that no Fund of Funds or Fund of Funds...

  7. 76 FR 67021 - Community Development Financial Institutions Fund

    Science.gov (United States)

    2011-10-28

    ... Community Development Financial Institutions Fund Proposed Collection; Comment Request ACTION: Notice and... Financial Institutions Fund (the ``CDFI Fund'') within the Department of the Treasury is soliciting comments... Mia Sowell, Policy and Program Officer, at the Community Development Financial Institutions Fund,...

  8. Risk and Return in Hedge Funds and Funds-of-Hedge Funds: A Cross-Sectional Approach

    OpenAIRE

    Hee Soo Lee

    2012-01-01

    The objective of this study is to examine whether the available data on individual hedge funds (HFs) and funds-of-hedge funds (FOHFs) can reveal the risk-return trade-off and, if so, to find an appropriate risk measure that captures the cross-sectional variation in HF and FOHF returns and compare the risk-return relationship in HFs and FOHFs. Using the “live funds” and the “dead funds” datasets provided by Hedge Fund Research Inc. (HFR), we concentrate on alternative risk measures such as sem...

  9. Quantum independent increment processes

    CERN Document Server

    Franz, Uwe

    2005-01-01

    This volume is the first of two volumes containing the revised and completed notes lectures given at the school "Quantum Independent Increment Processes: Structure and Applications to Physics". This school was held at the Alfried-Krupp-Wissenschaftskolleg in Greifswald during the period March 9 – 22, 2003, and supported by the Volkswagen Foundation. The school gave an introduction to current research on quantum independent increment processes aimed at graduate students and non-specialists working in classical and quantum probability, operator algebras, and mathematical physics. The present first volume contains the following lectures: "Lévy Processes in Euclidean Spaces and Groups" by David Applebaum, "Locally Compact Quantum Groups" by Johan Kustermans, "Quantum Stochastic Analysis" by J. Martin Lindsay, and "Dilations, Cocycles and Product Systems" by B.V. Rajarama Bhat.

  10. Field Independent Cosmic Evolution

    Directory of Open Access Journals (Sweden)

    Nayem Sk

    2013-01-01

    Full Text Available It has been shown earlier that Noether symmetry does not admit a form of corresponding to an action in which is coupled to scalar-tensor theory of gravity or even for pure theory of gravity taking anisotropic model into account. Here, we prove that theory of gravity does not admit Noether symmetry even if it is coupled to tachyonic field and considering a gauge in addition. To handle such a theory, a general conserved current has been constructed under a condition which decouples higher-order curvature part from the field part. This condition, in principle, solves for the scale-factor independently. Thus, cosmological evolution remains independent of the form of the chosen field, whether it is a scalar or a tachyon.

  11. TO BE INDEPENDENT

    Institute of Scientific and Technical Information of China (English)

    石波

    2000-01-01

    @@ Ⅰ. Introduction At present, in the college, English extensive reading class, most students are not used to being independent. They always ask the teacher to explain the passages sentence by sentence and they need a lot of time to use the dictionary. Yet, we should take the responsibility for the students by making clear the difference between intensive and extensive reading. The traditional teaching approaches pays more attention to the teacher-centered way;the teacher always plays a monodrama, and the teacher dominates the class. The students are lack initiative. Some students do not know where they could start from, and the others are short of fast-reading skills, always fixing their eyes on one word or one sentence. Under the new situation and new thinking, students should learn to be more independent.

  12. Bayesian Independent Component Analysis

    DEFF Research Database (Denmark)

    Winther, Ole; Petersen, Kaare Brandt

    2007-01-01

    In this paper we present an empirical Bayesian framework for independent component analysis. The framework provides estimates of the sources, the mixing matrix and the noise parameters, and is flexible with respect to choice of source prior and the number of sources and sensors. Inside the engine...... in a Matlab toolbox, is demonstrated for non-negative decompositions and compared with non-negative matrix factorization....

  13. Random Independence Systems

    Science.gov (United States)

    1981-11-01

    Whitney provided a set of axioms for a structure commonly called i a matroid. Matroid theory (see ( Tutte , 19711, [Lawler, 19761) has applications to a wide...applicable in this case. On the other hand, there is no known efficient ( polynomial time) algorithm for constructing cliques of size 2 log n with...intersection. The problem of constructing a maximal independent set in the intersection of k matroids has a polynomial time (in tEl) algorithm [Lawler, 197

  14. Fraud at the Global Fund? A viewpoint.

    Science.gov (United States)

    Brown, Jonathan C; Griekspoor, Wilfred

    2013-01-01

    The Global Fund to Fight AIDS, Tuberculosis and Malaria has contributed to remarkable health improvements in the three diseases since its creation in 2002. However, media reports about "astonishing losses" and fraud in Fund programs in 2011 caused several donors to suspend funding. The Fund's annual round of new financing was canceled, and a substantial reform program is being implemented. Two former senior managers of the Fund contend that fraud was never a major problem; rather than imposing harsh new controls on recipient countries that might impede health outcomes, the Fund should maintain the core elements of its innovative model and make selective rather than sweeping changes in its operations. Copyright © 2012 John Wiley & Sons, Ltd.

  15. ELECTIONS PENSION FUND 3rd candidate

    CERN Multimedia

    2001-01-01

    ORGANISATION EUROPEENNE POUR LA RECHERCHE NUCLEAIRE CERN EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH CAISSE DE PENSIONS / PENSION FUND Caisse de Pensions - ELECTIONS - Pension Fund This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate : Name : Hauviller First Name : Claude Dear colleague of CERN and ESO, For the first time, I am standing and requesting your support to become a member of the Governing Board of our Pension Fund. CERN staff member since 1974, I have already carried elective mandates: I have been Delegate to the Staff Council and Member of the Senior Staff Consultative Committee (the Nine). For the majority of us, our Pension Fund is our only social provident scheme and source of retirement income; I believe I can usefully contribute to its successful management and help ensure its balance. Our Fund reaches its majority: soon, there will be more beneficiaries tha...

  16. ELECTIONS PENSION FUND CANDIDATE NR 3

    CERN Multimedia

    2001-01-01

    ORGANISATION EUROPEENNE POUR LA RECHERCHE NUCLEAIRE CERN EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH CAISSE DE PENSIONS / PENSION FUND Caisse de Pensions - ELECTIONS - Pension Fund This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate : Name : HAUVILLER First Name : Claude Dear colleague of CERN and ESO, For the first time, I am standing and requesting your support to become a member of the Governing Board of our Pension Fund. CERN staff member since 1974, I have already carried elective mandates: I have been Delegate to the Staff Council and Member of the Senior Staff Consultative Committee (the Nine). For the majority of us, our Pension Fund is our only social provident scheme and source of retirement income; I believe I can usefully contribute to its successful management and help ensure its balance. Our Fund reaches its majority: soon, there will be more beneficiaries tha...

  17. Pension fund excellence creating value for stakeholders

    CERN Document Server

    Ambachtsheer, Keith P.

    1998-01-01

    Internationally recognized experts in the field introduce their "business excellence paradigm". In this book, two leading pension fund experts lay out a comprehensive plan for effective fund management. With the help of domestic and global case studies they critically assess current approaches to pension fund management and isolate what works and what doesn't using their unique critically acclaimed "run-it-like-a-business" model. Keith P. Ambachtsheer (Toronto, Canada) is principle at KPA Advisory Service, Inc., a pension fund management consulting firm. He runs The Ambachtsheer Letter and cofounded Cost Effective Measurement, Inc., which monitors the performance of 300 of the world's largest asset funds. D. Don Ezra (Toronto, Canada) is Director of European Consulting at Frank Russell Co. His previous books include The Struggle for Pension Fund Wealth.

  18. Minimizing the expected discounted time to ruin for a company managing N distinct funds with a "superclaims" process

    Institute of Scientific and Technical Information of China (English)

    Chen Shiping; Hu Dekun

    2001-01-01

    Consider a company managing N distinct funds,each fund with its owm distinct initial reserve ui(i=1,2,…N),premium rates p1(i=1,2…N)and distinct claims process Xi(t),(i=1,2,…N).An independent superclaims process corresponds that the company must honor,and choose to pay off via only one of the distinct uniquely until that fund is ruined,hence the 'superclaims' will be payed from another of the remaining funds(uniquely) until that fund is ruined ,and so on. The company is 'ruined' when its last remaining fund is ruined. In this paper we derive the optimal policy to minimize the expected discounted time until the company is ruined.

  19. Are international fund flows pro- or counter-cyclical?

    NARCIS (Netherlands)

    Li, Suxiao; de Haan, Jakob; Scholtens, Bert; Yang, Haizhen

    2015-01-01

    We investigate whether international fund flows are pro-or counter-cyclical by employing a concordance index. International fund flows are investments in bond and equity markets by institutional investors, such as mutual funds, exchange traded funds, closed-end funds and hedge funds. We find that fu

  20. Annual Report of the Pension Fund

    CERN Multimedia

    HR Department

    2009-01-01

    The 2008 Annual Report and Accounts of the Pension Fund, which were approved by theCouncil at its session of 19 June 2009, are now available from Departmental secretariats. The document is also available on the Pension Fund website: http://pensions.web.cern.ch/Pensions/ Pension beneficiaries can obtain the document from Emilie Clerc (tel. + 41 22 767 87 98), Building 5-5/017. Secretariat of the Pension Fund 72742

  1. The performance of hedge fund indices

    OpenAIRE

    Yigit Atilgan; Bali, Turan G.; K. Ozgur Demirtas

    2013-01-01

    This paper investigates the performance of various strategy-specific and composite hedge fund indices. Given the flexible and nonlinear investment mandates of hedge funds, various risk metrics that take factors such as extreme events and losses with respect to previous peaks are considered. Our analysis compares the risk-adjusted performances of hedge fund indices among themselves, with respect to the overall equitymarket and over time. Special attention is given to the distinction between in...

  2. THE AUDIT OF THE EUROPEAN FUNDS - THE ROMANIA CASE PARTICULARITIES

    Directory of Open Access Journals (Sweden)

    Tara Ioan Gheorghe

    2010-12-01

    Full Text Available The European funds are committed to improving the economic and financial state of the eastern European countries. Therefore they have to be performing spent. The financial audit has an extremely important duty from this point of view. In Romania case there are some particularities which are, at the same time, the possible ways to improve the financial audit activity as well. The vital thing among them is to improve the independence of the financial audit and to take in account the necessary report between internal and external audit. A proposal is made here.

  3. Improvement of Classification of Enterprise Circulating Funds

    Directory of Open Access Journals (Sweden)

    Rohanova Hanna O.

    2014-02-01

    Full Text Available The goal of the article lies in revelation of possibilities of increase of efficiency of managing enterprise circulating funds by means of improvement of their classification features. Having analysed approaches of many economists to classification of enterprise circulating funds, systemised and supplementing them, the article offers grouping classification features of enterprise circulating funds. In the result of the study the article offers an expanded classification of circulating funds, which clearly shows the role of circulating funds in managing enterprise finance and economy in general. The article supplements and groups classification features of enterprise circulating funds by: the organisation level, functioning character, sources of formation and their cost, and level of management efficiency. The article shows that the provided grouping of classification features of circulating funds allows exerting all-sided and purposeful influence upon indicators of efficiency of circulating funds functioning and facilitates their rational management in general. The prospect of further studies in this direction is identification of the level of attraction of loan resources by production enterprises for financing circulating funds.

  4. Resolving the International Monetary Fund's Legitimacy Crisis

    DEFF Research Database (Denmark)

    Seabrooke, Leonard

    2006-01-01

    Since the Asian financial crisis of 1997-1998 the International Monetary Fund (the Fund) has been embroiled in an international crisis of legitimacy. Assertions of a crisis are premised on the notions that the Fund's voting system is unfair, and that the Fund enforces homogenous policies onto...... borrowing member states and that loan programs tend to fail. Seen this way, poor institutional and policy design has led to a loss of legitimacy. But institutionalised inequalities or policy failure is not in itself sufficient to constitute an international crisis of legitimacy. This article provides...

  5. Funding Melbourne's hospitals: some historical moments.

    Science.gov (United States)

    Walker, C

    1998-01-01

    In 1993 the Victorian Government introduced casemix funding as part of its restructure of the public hospital system. Casemix funding provides a new basis for government funding according to outcomes. At the same time, restructure of hospitals allows for a reconsideration of who is eligible to use them. Historical research into the growth of the public hospital system in Melbourne shows that attempts to reform the hospital system are as old as the system itself. This paper argues that the views of hospitals in funding crises and the solutions that are recommended have more to do with the politics of the day than the economics of running hospitals.

  6. PERFORMANCE EVALUATION OF CHINESE NEW FUNDS

    Institute of Scientific and Technical Information of China (English)

    倪苏云; 翁轶丛; 吴冲锋

    2001-01-01

    he performance of Chinese investment funds was empirically analyzed using the following models, i.e. Jensen model, Treynor-Mazuy (T-M) model amd Merton-Henriksson model. The results show that T-M model is fitted to Chinese investment funds best among these three. But none of them can perfectly interpret the new funds' performance. So, the idea suggested by Jagannathan, Korajczyk (J-K) to extend the test was adopted in this paper, and the results show that J-K model augmented from the M-H can explain the source of excess return of fund Anxin.

  7. Push button parliament–why India needs a non-partisan, recorded vote system

    Directory of Open Access Journals (Sweden)

    Shalaka Patil

    2011-12-01

    Full Text Available Decisions of national importance are made by Parliamentary voting. Yet Indian Members of Parliament (MPs vote with a remarkable lack of freedom and accountability. The introduction of the Tenth Schedule in the Constitution has crippled free expression, since it provides that MPs voting against ‘any direction’ of their Party are liable to disqualification from the legislature In addition, except for Constitutional amendments, Indian Parliamentary Procedure Rules do not require votes of MPs to be recorded unless the Speaker’s decision is contested in the House. The result is that voting in the House has become mechanical, controlled by Party politics and devoid of responsibility. This paper comments on a general theory of democratic accountability through the lens of Parliamentary voting. It suggests that the voting system adopted in the Parliament is an effective indicator to measure the level of accountability of its Members. In the context of India, this paper argues that the level of accountability will increase to a desirable extent only when there is adoption of a recorded system for every important House vote. Upon examination of India’s record thus far (through the sample of the 14th Lok Sabha it becomes evident that the level of divisions (recorded votes is substantially lower than other countries. This leads the paper to probe, as to why that might be the case. Part II of the paper answers that question by examining the Tenth Schedule of the Constitution. The paper scrutinizes the disproportionate influence of the Party in decision making in the Parliament. Apart from dealing with the inherent problem of the Tenth Schedule, this paper suggests two procedural changes to make parliamentary expression more meaningful. Firstly, the recording of all important votes within the Parliament and secondly, registering Party whips with the Minister of Parliamentary Affairs so that the voter knows the clear stand of every Parliamentary continuum. The focus of the paper is thus to bring back the attention of the legislators to their central function, which is deliberation on and the passage of legislation.

  8. Push button parliament–why India needs a non-partisan, recorded vote system

    Directory of Open Access Journals (Sweden)

    Shalaka Patil

    2011-12-01

    Full Text Available Decisions of national importance are made by Parliamentary voting. Yet Indian Members of Parliament (MPs vote with a remarkable lack of freedom and accountability. The introduction of the Tenth Schedule in the Constitution has crippled free expression, since it provides that MPs voting against ‘any direction’ of their Party are liable to disqualification from the legislature  In addition, except for Constitutional amendments, Indian Parliamentary Procedure Rules do not require votes of MPs to be recorded unless the Speaker’s decision is contested in the House. The result is that voting in the House has become mechanical, controlled by Party politics and devoid of responsibility. This paper comments on a general theory of democratic accountability through the lens of Parliamentary voting. It suggests that the voting system adopted in the Parliament is an effective indicator to measure the level of accountability of its Members. In the context of India, this paper argues that the level of accountability will increase to a desirable extent only when there is adoption of a recorded system for every important House vote. Upon examination of India’s record thus far (through the sample of the 14th Lok Sabha it becomes evident that the level of divisions (recorded votes is substantially lower than other countries. This leads the paper to probe, as to why that might be the case. Part II of the paper answers that question by examining the Tenth Schedule of the Constitution. The paper scrutinizes the disproportionate influence of the Party in decision making in the Parliament. Apart from dealing with the inherent problem of the Tenth Schedule, this paper suggests two procedural changes to make parliamentary expression more meaningful. Firstly, the recording of all important votes within the Parliament and secondly, registering Party whips with the Minister of Parliamentary Affairs so that the voter knows the clear stand of every Parliamentary continuum. The focus of the paper is thus to bring back the attention of the legislators to their central function, which is deliberation on and the passage of legislation.

  9. Independence among People with Disabilities: II. Personal Independence Profile.

    Science.gov (United States)

    Nosek, Margaret A.; And Others

    1992-01-01

    Developed Personal Independence Profile (PIP) as an instrument to measure aspects of independence beyond physical and cognitive functioning in people with diverse disabilities. PIP was tested for reliability and validity with 185 subjects from 10 independent living centers. Findings suggest that the Personal Independence Profile measures the…

  10. 34 CFR 682.421 - Funds transferred from the Federal Fund to the Operating Fund by a guaranty agency.

    Science.gov (United States)

    2010-07-01

    ... the agency's proposed terms of repayment; (ii) A projected revenue and expense statement, to be... the Federal Fund to pay lender claims during the period the transferred funds are outstanding; (B) The... transferring the interest, the agency will substantially improve its financial circumstances. (Approved by...

  11. Opportunities for Funding at NSF

    Science.gov (United States)

    Kafafi, Zakya H.

    2009-03-01

    Materials science, inter- and multi-disciplinary in nature, provides the bridge to many areas of fundamental and applied sciences such as biology, chemistry, physics, mathematics, computer sciences, and engineering. Strong links that may exist between materials science and other disciplines, such as biology or chemistry or physics, very often lead to novel applications and enable technologies of great benefit to our society. The Division of Materials Research (DMR) invested 274.0 M in FY 2008 and is estimated to invest 324.6 M in FY 2009 funding research and education as well as enabling tools & instrumentation for individual investigators, groups, centers, and national facilities. DMR programs cover a wide spectrum of materials research and education ranging from condensed matter and materials physics, solid-state and materials chemistry, multifunctional, hybrid, electronic, photonic, metallic, ceramic, polymeric, bio-materials, composites and nanostructures to list a few. New modes of funding, research opportunities and directions, such as the recent SOLAR solicitation, will be described. This Solar Energy Initiative launched jointly by three divisions, namely Chemistry, Materials Research and Mathematical Science is aimed at supporting truly interdisciplinary efforts that address the scientific challenges of highly efficient harvesting, conversion, and storage of solar energy. The goal of this new program is to create a new modality of linking the mathematical with the chemical and materials sciences to develop transformative paradigms based on the integrated expertise and synergy from three disciplinary communities. DMR is also seeking new ways to transform materials science and education, and make it more attractive as a career for bright, young women & men. A description will be given of several workshops held this year and planned for next year with this purpose in mind. Outreach programs that emphasize how the innovations resulting from materials research

  12. 78 FR 2615 - Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations; Investment...

    Science.gov (United States)

    2013-01-14

    ... of 12 U.S.C. 2252, the regulation amending 12 CFR part 615 published on November 5, 2012 (77 FR 66362... 3052-AC50 Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations;...

  13. The importance of board independence

    NARCIS (Netherlands)

    Zijl, N.J.M.

    2012-01-01

    Although the attributed importance of board independence is high, a clear definition of independence does not exist. Furthermore, the aim and consequences of independence are the subject of discussion and empirical evidence about the impact of independence is weak and disputable. Despite this lack o

  14. INVESTMENT FUNDS INDUSTRY IN ROMANIA

    Directory of Open Access Journals (Sweden)

    Adela Ionescu

    2013-11-01

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

  15. Self Managed Superannuation Funds and the Bear Market of 2007-2008

    Directory of Open Access Journals (Sweden)

    Peter J Phillips

    2009-03-01

    Full Text Available In this paper, we examine the bear market performance of self managed superannuation funds(SMSFs. Previous studies have highlighted some problems with the portfolio construction ofSMSFs. This provides a rationale for examining the performance of SMSFs during the recentbear market. Based on data from two independent samples of a total of 141 self managedsuperannuation funds, two archetype SMSF portfolios are constructed in order to generateinsights into the average performance of the funds in the samples. The performance of thesefunds is compared with (1 the unmanaged market index; and (2 the average returnsgenerated by retail (balanced superannuation funds. Interestingly, whilst the SMSFs havegenerated negative returns and problems with the portfolio construction remain, the relativeperformance of the overall portfolios vis-à-vis the market index and professionally managedfunds is reasonably favourable. However, the equity portions of the SMSF portfolios sufferfrom under-diversification and could be more efficiently constructed.

  16. The year 2012 is already rich in highlights for the Pension Fund Governing Board (PFGB)

    CERN Document Server

    2012-01-01

    In this new column, the Chairman of the Pension Fund Governing Board (PFGB) will regularly present the latest main decisions, initiatives and accomplishments of the Governing Board to the members and beneficiaries of the Fund.   At the start of the year, the PFGB examined the question of the contribution rate for new members joining the Fund after 1st January 2012. The PFGB confirmed that, on the basis of the independent expert's calculations, the proposed total contribution rate of 31.6% for new members is sufficient to finance their pension promise. The proposed new contribution rate was subsequently approved by the Council at its March 2012 meeting. The PFGB has also approved the assumptions to be used in the preparation of the Financial Statements of the Fund for the year 2011. The assumptions for longevity will reflect the latest Swiss publicly available longevity tables (see here). The investment return assumption will continue to reflect the objective set by the Council, w...

  17. The Role of Training and Promotion to Increase The 3rd Party Funds Indonesian Islamic Banking

    Directory of Open Access Journals (Sweden)

    Rahmat Hidayat

    2014-03-01

    Full Text Available Objective – This study aims to determine whether the role of training is much larger than the promotion in raising third-party funds in Islamic banks in Indonesia given the cost of the training is spent is greater than the cost of promotion. This study empirically examines the relationship and impact of training and promotion to raise funds for a 3rd party in Indonesia Islamic banks.Methods – This study uses secondary data Islamic commercial banks in the form of panel (time-series and cross-section of Bank Indonesia data from 2010 until 2012. There are two independent variables training cost (X1 and promotion cost (X2 and one dependent variable is 3rd-party funds (Y. The analysis technique used path analysis to examine the role of training and the promotion of financial performance (The 3rd Party Funds.Result – Simultaneously, training and promotion gives an effect by 52%, and partially or individual training gives an insignificant negative effect, while the promotion has a significant positive impact on financial performance (financial-party funds on Islamic banking.Conclusion – The role of promotion is higher in raising The 3rd Party Funds than training. Keywords : Cost, Training, Promotion, The 3rd Party Funds 

  18. Investment Primer for Green Revolving Funds

    Science.gov (United States)

    Weisbord, Dano

    2012-01-01

    Developing return-oriented green revolving funds (GRFs) is a rapidly growing trend at colleges and universities. A green revolving fund (GRF) is a special account designated for investment in on-campus projects that improve energy efficiency or decrease material use. GRFs invest in a variety of cost-saving initiatives, resulting in significant…

  19. Employees Pe ' sion Fund, [2007] 3

    African Journals Online (AJOL)

    liament to clarify the above position, the Pension Funds Amendment Act,4. 1 ACI 70 Of 1979. .... mean the total of the contributions to the fund up to the date of divorce, plus simple interest thereon ..... I welcome them since they promote fairness.

  20. 75 FR 18407 - Investing in Innovation Fund

    Science.gov (United States)

    2010-04-12

    ... CFR Chapter II RIN 1855-AA06 Investing in Innovation Fund Catalog of Federal Domestic Assistance (CFDA...: Office of Innovation and Improvement, Department of Education. ACTION: Final priorities, requirements..., definitions, and selection criteria (Final Rule) for the Investing in Innovation Fund. This document makes...

  1. 76 FR 32073 - Investing in Innovation Fund

    Science.gov (United States)

    2011-06-03

    ... CFR Chapter II Investing in Innovation Fund AGENCY: Office of Innovation and Improvement, Department...: The Assistant Deputy Secretary for Innovation and Improvement amends the final priorities, requirements, and selection criteria under the Investing in Innovation Fund (i3) program as established in...

  2. 75 FR 21614 - Investing in Innovation Fund

    Science.gov (United States)

    2010-04-26

    ... Investing in Innovation Fund Catalog of Federal Domestic Assistance (CFDA) Numbers: 84.396A (Scale-up grants), 84.396B (Validation grants), and 84.396C (Development grants). AGENCY: Office of Innovation and... Innovation Fund. This notice makes a correction to the March 12 NIA. FOR FURTHER INFORMATION CONTACT:...

  3. Public Funds and Local Biotechnology Firm Creation

    NARCIS (Netherlands)

    Kolympiris, C.; Kalaitzandonakes, N.; Miller, D.

    2014-01-01

    A long stream of academic literature has established that public funding towards research and development matters for economic growth because it relates to increases in innovation, productivity and the like. The impact of public funding on the creation of new firms has received less attention in thi

  4. Government Hits Back At Funding Claims

    CERN Multimedia

    2007-01-01

    THE Government has defended its record on funding science, following criticism from Durham University. Last week, the university's Physics Department wrote to John Denham, the Secretary of State for Innovation, Universities and Skills (DIUS), to express concern at an 80m shortfall in funding for the Science and Technology Facilities Council (STFC).

  5. Government hits back at funding claims

    CERN Multimedia

    2007-01-01

    The Government has defended its record on funding science, following criticism from Durham University. Last week, the university's Physics Department wrote to John Denham, the Secretary of State for Innovation, Universities and Skills (DIUS), to express concern at an 80m shortfall in funding for the Science and Technology Facilities Council (STFC).

  6. 33 CFR 263.20 - Program funding.

    Science.gov (United States)

    2010-07-01

    ... 33 Navigation and Navigable Waters 3 2010-07-01 2010-07-01 false Program funding. 263.20 Section 263.20 Navigation and Navigable Waters CORPS OF ENGINEERS, DEPARTMENT OF THE ARMY, DEPARTMENT OF DEFENSE CONTINUING AUTHORITIES PROGRAMS General § 263.20 Program funding. (a) Program budget....

  7. 23 CFR 650.413 - Funding.

    Science.gov (United States)

    2010-04-01

    ... 23 Highways 1 2010-04-01 2010-04-01 false Funding. 650.413 Section 650.413 Highways FEDERAL HIGHWAY ADMINISTRATION, DEPARTMENT OF TRANSPORTATION ENGINEERING AND TRAFFIC OPERATIONS BRIDGES, STRUCTURES, AND HYDRAULICS Highway Bridge Replacement and Rehabilitation Program § 650.413 Funding. (a)...

  8. 25 CFR 163.71 - Agreement funding.

    Science.gov (United States)

    2010-04-01

    ... 25 Indians 1 2010-04-01 2010-04-01 false Agreement funding. 163.71 Section 163.71 Indians BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR LAND AND WATER GENERAL FORESTRY REGULATIONS Cooperative Agreements § 163.71 Agreement funding. In cooperative agreements, the Secretary is authorized to advance...

  9. 23 CFR 655.607 - Funding.

    Science.gov (United States)

    2010-04-01

    ... construction item. (3) The method of accomplishing the work will be in accordance with 23 CFR part 635, subpart... 23 Highways 1 2010-04-01 2010-04-01 false Funding. 655.607 Section 655.607 Highways FEDERAL... Traffic Control Devices on Federal-Aid and Other Streets and Highways § 655.607 Funding. (a)...

  10. 20 CFR 602.40 - Funding.

    Science.gov (United States)

    2010-04-01

    ... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Funding. 602.40 Section 602.40 Employees' Benefits EMPLOYMENT AND TRAINING ADMINISTRATION, DEPARTMENT OF LABOR QUALITY CONTROL IN THE FEDERAL-STATE UNEMPLOYMENT INSURANCE SYSTEM Quality Control Grants to States § 602.40 Funding. (a) The Department shall...

  11. 7 CFR 1491.21 - Funding.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 10 2010-01-01 2010-01-01 false Funding. 1491.21 Section 1491.21 Agriculture Regulations of the Department of Agriculture (Continued) COMMODITY CREDIT CORPORATION, DEPARTMENT OF... Agreements and Conservation Easement Deeds § 1491.21 Funding. (a) Subject to the statutory limits, the...

  12. 44 CFR 150.9 - Funding.

    Science.gov (United States)

    2010-10-01

    ... 44 Emergency Management and Assistance 1 2010-10-01 2010-10-01 false Funding. 150.9 Section 150.9 Emergency Management and Assistance FEDERAL EMERGENCY MANAGEMENT AGENCY, DEPARTMENT OF HOMELAND SECURITY FIRE PREVENTION AND CONTROL PUBLIC SAFETY AWARDS TO PUBLIC SAFETY OFFICERS § 150.9 Funding....

  13. 15 CFR 10.2 - Funding.

    Science.gov (United States)

    2010-01-01

    ... 15 Commerce and Foreign Trade 1 2010-01-01 2010-01-01 false Funding. 10.2 Section 10.2 Commerce and Foreign Trade Office of the Secretary of Commerce PROCEDURES FOR THE DEVELOPMENT OF VOLUNTARY PRODUCT STANDARDS § 10.2 Funding. Groups who represent producers, distributors, consumers or users,...

  14. 7 CFR 277.4 - Funding.

    Science.gov (United States)

    2010-01-01

    ... Register citations affecting § 277.4, see the List of CFR Sections Affected, which appears in the Finding... 7 Agriculture 4 2010-01-01 2010-01-01 false Funding. 277.4 Section 277.4 Agriculture Regulations... § 277.4 Funding. (a) General. This section sets allowable cost standards for activities of...

  15. 10 CFR 605.12 - Funding.

    Science.gov (United States)

    2010-01-01

    ... 10 Energy 4 2010-01-01 2010-01-01 false Funding. 605.12 Section 605.12 Energy DEPARTMENT OF ENERGY (CONTINUED) ASSISTANCE REGULATIONS THE OFFICE OF ENERGY RESEARCH FINANCIAL ASSISTANCE PROGRAM § 605.12 Funding. (a) The project period during which DOE expects to provide support for an approved project...

  16. 32 CFR 215.10 - Funding.

    Science.gov (United States)

    2010-07-01

    ... 32 National Defense 2 2010-07-01 2010-07-01 false Funding. 215.10 Section 215.10 National Defense Department of Defense (Continued) OFFICE OF THE SECRETARY OF DEFENSE (CONTINUED) MISCELLANEOUS EMPLOYMENT OF MILITARY RESOURCES IN THE EVENT OF CIVIL DISTURBANCES § 215.10 Funding. (a) Reporting requirements...

  17. 10 CFR 602.11 - Funding.

    Science.gov (United States)

    2010-01-01

    ... 10 Energy 4 2010-01-01 2010-01-01 false Funding. 602.11 Section 602.11 Energy DEPARTMENT OF ENERGY (CONTINUED) ASSISTANCE REGULATIONS EPIDEMIOLOGY AND OTHER HEALTH STUDIES FINANCIAL ASSISTANCE PROGRAM § 602.11 Funding. (a) The project period during which DOE expects to provide support for an...

  18. 28 CFR 42.734 - Alternative funding.

    Science.gov (United States)

    2010-07-01

    ... 28 Judicial Administration 1 2010-07-01 2010-07-01 false Alternative funding. 42.734 Section 42.734 Judicial Administration DEPARTMENT OF JUSTICE NONDISCRIMINATION; EQUAL EMPLOYMENT OPPORTUNITY...; Implementation of the Age Discrimination Act of 1975 Compliance Procedures § 42.734 Alternative funding....

  19. 45 CFR 1623.6 - Interim funding.

    Science.gov (United States)

    2010-10-01

    ... 45 Public Welfare 4 2010-10-01 2010-10-01 false Interim funding. 1623.6 Section 1623.6 Public Welfare Regulations Relating to Public Welfare (Continued) LEGAL SERVICES CORPORATION SUSPENSION PROCEDURES § 1623.6 Interim funding. (a) Pending the completion of suspension proceedings under this...

  20. 75 FR 10059 - Money Market Fund Reform

    Science.gov (United States)

    2010-03-04

    ... Commission issued a release proposing new rules and rule amendments governing the operation of money market funds.\\2\\ Money market funds are open-end management investment companies that are registered under the... and Computation of Current Price Per Share by Certain Open-End Investment Companies (Money...

  1. Transdisciplinary EU Science Institute needs funds urgently

    NARCIS (Netherlands)

    Vasbinder, J.W.; Andersson, B.; Arthur, W.B.; Boasson, M.; Scheffer, M.

    2010-01-01

    Europe's future hinges on funding transdisciplinary scientific collaboration. But career paths, peer recognition, publication channels and the public funding of science are still mostly geared to maintain and reinforce disciplinarity. We do not properly understand the effects of technology on the ev

  2. A Reality Check on Hedge Funds Returns

    NARCIS (Netherlands)

    Sluis, van der Pieter Jelle; Posthuma, Nolke

    2003-01-01

    In this article we examine the backfill bias or instant history bias for hedge funds using additional information from the Tass database. This is information about the exact date a hedge fund starts to reporting to Tass. Using this information we are able to reveal the length of the instant historie

  3. Performance Funding Criteria, Levels, and Methods.

    Science.gov (United States)

    Serban, Andreea M.

    1998-01-01

    Although selecting goals and indicators is the most challenging task of performance funding, implementation requires development of other critical elements: success criteria to measure institutional performance; indicator weights for percent of funding allocated to each indicator; an allocation method for setting the relationship between…

  4. Pension Fund - ELECTIONS - Guillermo de la FUENTE

    CERN Multimedia

    2002-01-01

    CERN - EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH PENSION FUND   This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate: Name: de la FUENTE First Name : Guillermo As CERN treasurer with 12 years experience in finance with a background in Economics coupled with a MBA, my main goal will be to enhance the Pension Fund yield. During 3 consecutive years, our Pension Fund has suffered negative real returns:-1.65% in 2000, -4.26% in 2001 and most probably a double-digit loss this year. In addition to that, we spend annually around CHF 6'000'000 in bank charges and external consultants fees. If we do not change this negative trend, the funding ratio of our Pension Fund might become weak. A more proactive internal fund management in conjunction with a performance-related remuneration to external participants would be some of the points I will propose in order to maximize Fund's y...

  5. The Dark Side of Bank Wholesale Funding

    NARCIS (Netherlands)

    Huang, R.; Ratnovksi, L.

    2009-01-01

    Commercial banks increasingly use short-term wholesale funds to supplement traditional retail deposits. Existing literature mainly points to the "bright side" of wholesale funding: sophisticated financiers can monitor banks, disciplining bad ones but refinancing solvent ones. This paper models a "da

  6. 48 CFR 207.471 - Funding requirements.

    Science.gov (United States)

    2010-10-01

    ..., DEPARTMENT OF DEFENSE ACQUISITION PLANNING ACQUISITION PLANNING Equipment Lease or Purchase 207.471 Funding requirements. (a) Fund leases in accordance with DoD Financial Management Regulation (FMR) 7000.14-R, Volume 2A, Chapter 1. (b) DoD leases are either capital leases or operating leases. See FMR 7000.14-R, Volume...

  7. 13 CFR 130.450 - Matching funds.

    Science.gov (United States)

    2010-01-01

    ... in the budget proposal. Cash sources shall be identified by name and account. All applicants must... received by the SBDC during the budget period, as long as the total Cash Match provided by the SBDC is 50... to the total amount of SBA funding. At least 50% of the Matching Funds must be Cash Match....

  8. Assessing biodiversity funding during the sixth extinction.

    Science.gov (United States)

    Amato, George; DeSalle, Rob

    2012-08-01

    Funding for understanding biodiversity on this planet has had a checkered and unsatisfactory history. There have been some true successes in developing models for assessing biodiversity, but satisfactory governmental and international support has been piecemeal and unsatisfactory. A true solution to the biodiversity crisis will require greater attention from governmental and international funding agencies.

  9. Fund-Raising as a Persuasive Act.

    Science.gov (United States)

    Jeffrey, Robert C.

    1999-01-01

    Describes two successful fund-raising campaigns conducted by the new Dean of the College of Communication at the University of Texas, Austin. Describes strategies used as a novice fund-raiser with no help from a development officer. Suggests that the Aristotelian principles will serve anyone well if he or she is willing to give it the time and…

  10. Performance Persistence of Dutch Pension Funds

    NARCIS (Netherlands)

    Huang, Xiaohong; Mahieu, Ronald

    2010-01-01

    This paper studies the investment performance of pension funds with a focus on their ability in implementing the investment strategy. We use a sample of Dutch industry-wide pension funds, which are obliged by law to report their investment performance according to the so-called z-score. The z-score

  11. Information Content of Mutual Fund Portfolio Disclosure

    NARCIS (Netherlands)

    Y. Wang (Yu)

    2011-01-01

    textabstractAcademic financial economists have been keenly interested in the value of active portfolio management since the seminal paper of Jensen (1968). This book examines the information advantages that active mutual fund managers attain in financial markets through an analysis of disclosed fund

  12. Mutual Fund Performance: Evidence From South Africa

    Directory of Open Access Journals (Sweden)

    Ömer Faruk Tan

    2015-11-01

    Full Text Available This paper aims to evaluate the performance of South African equity funds between January 2009 and November 2014. This study period overlaps with the study period of quantitative easing during which developing economies in financial markets have been influenced severely. Thanks to the increase in the money supply directed towards the capital markets, a relief was experienced in related markets following the crisis period. During this 5-year 10-month period, in which the relevant quantitative easing continued, Johannesburg Stock Exchange (JSE yielded approximately %16 compounded on average, per year. In this study, South African equity funds are examined in order to compare these funds' performance within this period.Within this scope- 10 South African equity funds are selected. In order to measure these funds' performances, the Sharpe ratio (1966, Treynor ratio (1965, Jensen's alpha (1968 methods are used. Jensen's alpha is also used in identifying selectivity skills of fund managers. Furthermore, the Treynor & Mazuy (1966 and Henriksson & Merton (1981 regression analysis methods are applied to ascertain the market timing ability of fund managers. Furthermore, Treynor & Mazuy (1966 regression analysis method is applied for market timing ability of fund managers.

  13. Do Sectoral Training Funds Stimulate Training?

    Science.gov (United States)

    Kamphuis, Pascal; Glebbeek, Arie C.; Van Lieshout, Harm

    2010-01-01

    Sectoral levelling funds are an arrangement aimed at alleviating a well-known theoretical problem of underinvestment in worker training because of free-rider behaviour of firms. In the Netherlands, collective agreements require firms to participate in such funds in a number of sectors. Using a comprehensive dataset of Dutch firms, we attempt to…

  14. Performance Evaluation of Investment (Mutual Funds

    Directory of Open Access Journals (Sweden)

    Povilas Vyšniauskas

    2014-12-01

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

  15. 45 CFR 2531.20 - Funding priorities.

    Science.gov (United States)

    2010-10-01

    ... 45 Public Welfare 4 2010-10-01 2010-10-01 false Funding priorities. 2531.20 Section 2531.20 Public Welfare Regulations Relating to Public Welfare (Continued) CORPORATION FOR NATIONAL AND COMMUNITY SERVICE PURPOSES AND AVAILABILITY OF GRANTS FOR INVESTMENT FOR QUALITY AND INNOVATION ACTIVITIES § 2531.20 Funding...

  16. 75 FR 57907 - Teacher Incentive Fund

    Science.gov (United States)

    2010-09-23

    ... 1810-AB08 Teacher Incentive Fund ACTION: Interim final requirements; request for comments. SUMMARY: The Secretary of Education (Secretary) amends the final requirements for the Teacher Incentive Fund program to...) for participation in the Congressionally mandated TIF national evaluation. DATES: These interim...

  17. 78 FR 26701 - Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations; Liquidity and...

    Science.gov (United States)

    2013-05-08

    ... strengthen liquidity risk management at Farm Credit System (System) banks, improve the quality of assets in their liquidity reserves, and bolster the ability of System banks to fund their obligations and continue...-AC54 Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations; Liquidity...

  18. 75 FR 39391 - Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations; Capital...

    Science.gov (United States)

    2010-07-08

    ... Administration 12 CFR Part 615 Funding, Fiscal Affairs, Loan Policies and Funding Operations; Proposed Rule #0;#0... ADMINISTRATION 12 CFR Part 615 RIN 3052-AC61 Funding and Fiscal Affairs, Loan Policies and Operations, and... Policy, Farm Credit Administration, 1501 Farm Credit Drive, McLean, VA 22102-5090. You may review copies...

  19. 78 FR 69143 - Guggenheim Equal Weight Enhanced Equity Income Fund and Guggenheim Funds Investment Advisers, LLC...

    Science.gov (United States)

    2013-11-18

    ... request an order to permit a registered closed-end investment company to make periodic distributions of... companies to such Fund during the year. Under the Distribution Policy of a Fund, such Fund would distribute... companies to make periodic distributions of long-term capital gains with respect to their outstanding...

  20. 13 CFR 307.11 - Disbursement of funds to Revolving Loan Funds.

    Science.gov (United States)

    2010-01-01

    ...) Cash Local Share of the RLF may only be used for lending purposes. The cash Local Share must be used either in proportion to the Grant funds or at a faster rate than the Grant funds. (2) When an RLF has a combination of In-Kind Contributions and cash Local Share, the cash Local Share and the Grant funds will...

  1. Health and health systems in the Commonwealth of Independent States.

    Science.gov (United States)

    Rechel, Bernd; Roberts, Bayard; Richardson, Erica; Shishkin, Sergey; Shkolnikov, Vladimir M; Leon, David A; Bobak, Martin; Karanikolos, Marina; McKee, Martin

    2013-03-30

    The countries of the Commonwealth of Independent States differ substantially in their post-Soviet economic development but face many of the same challenges to health and health systems. Life expectancies dropped steeply in the 1990s, and several countries have yet to recover the levels noted before the dissolution of the Soviet Union. Cardiovascular disease is a much bigger killer in the Commonwealth of Independent States than in western Europe because of hazardous alcohol consumption and high smoking rates in men, the breakdown of social safety nets, rising social inequality, and inadequate health services. These former Soviet countries have embarked on reforms to their health systems, often aiming to strengthen primary care, scale back hospital capacities, reform mechanisms for paying providers and pooling funds, and address the overall shortage of public funding for health. However, major challenges remain, such as frequent private out-of-pocket payments for health care and underdeveloped systems for improvement of quality of care.

  2. Fund allocation using capacitated vehicle routing problem

    Science.gov (United States)

    Mamat, Nur Jumaadzan Zaleha; Jaaman, Saiful Hafizah; Ahmad, Rokiah Rozita; Darus, Maslina

    2014-09-01

    In investment fund allocation, it is unwise for an investor to distribute his fund into several assets simultaneously due to economic reasons. One solution is to allocate the fund into a particular asset at a time in a sequence that will either maximize returns or minimize risks depending on the investor's objective. The vehicle routing problem (VRP) provides an avenue to this issue. VRP answers the question on how to efficiently use the available fleet of vehicles to meet a given service demand, subjected to a set of operational requirements. This paper proposes an idea of using capacitated vehicle routing problem (CVRP) to optimize investment fund allocation by employing data of selected stocks in the FTSE Bursa Malaysia. Results suggest that CRVP can be applied to solve the issue of investment fund allocation and increase the investor's profit.

  3. Hedge Funds As a Alternative Investment Opportunities

    Directory of Open Access Journals (Sweden)

    Michał Falkowski

    2009-09-01

    Full Text Available Hedge fund which became a popular alternative investment is a collective term for different types of investment fund. A common feature of these funds is that they have absolute earnings targets, that is they set targets for earnings irrespective of developments on, for example, the stock exchange. The paper deals with the current problem of the financial crisis and the effect it made worldwide for many institutional and private investors. It discusses the role played by hedge funds in developments on the financial markets, and to what extent they are affected by the effects of the crisis, as a recurring feature of every financial crisis. It also shows a wind range of strategies used by hedge funds to achieve their goal.

  4. Spring report of the Pension Fund

    CERN Multimedia

    2012-01-01

    In this column, the Chairman of the Pension Fund Governing Board (PFGB) will regularly present the latest main decisions, initiatives and accomplishments of the Governing Board to the members and beneficiaries of the Fund.   Since my last report in April, I am pleased to report the following progress.  On the recommendation of the Finance Committee, the CERN Council approved the updated Financial Regulations of the Fund at its June session, with immediate effect. The approval of the Financial Regulations completes a key part of the regulatory framework of the Fund’s operations. Also in June, the Council approved the Financial Statements of the CERN Pension Fund for 2011.  The Financial Statements had been certified by the Italian Court of Audit (CERN’s External Auditor), which gave its report to Council. 2011 was the first year during which the audit-related provisions of the updated Fund Rules were fully implemented. On the investments side, the F...

  5. GOVERNING BOARD OF THE PENSION FUND

    CERN Multimedia

    2002-01-01

    All members and beneficiaries of the Pension Fund are invited to attend the Annual General Asssembly to be held in the CERN Auditorium on Wednesday 2 October 2002 at 14.30 hrs The Agenda comprises: Opening Remarks (P. Levaux) Recent trends in the technical balance of pension funds (C. Cuénoud) Annual Report 2001: Presentation and results (C. Cuénoud) Copies of the Report are available from divisional secretariats. Position of the CERN Pension Fund with respect to market developments (G. Maurin) Questions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to Mr C. Cuénoud, Administrator of the Fund. Conclusions (P. Levaux) As usual, participants are invited to drinks after the assembly. NB The minutes of the 2001 General Assembly are available from the Administration of the Fund (tel.(+4122)767 9194; e-mail Graziella.Praire@cern.ch)

  6. Frame independent cosmological perturbations

    Energy Technology Data Exchange (ETDEWEB)

    Prokopec, Tomislav; Weenink, Jan, E-mail: t.prokopec@uu.nl, E-mail: j.g.weenink@uu.nl [Institute for Theoretical Physics and Spinoza Institute, Utrecht University, Leuvenlaan 4, 3585 CE Utrecht (Netherlands)

    2013-09-01

    We compute the third order gauge invariant action for scalar-graviton interactions in the Jordan frame. We demonstrate that the gauge invariant action for scalar and tensor perturbations on one physical hypersurface only differs from that on another physical hypersurface via terms proportional to the equation of motion and boundary terms, such that the evolution of non-Gaussianity may be called unique. Moreover, we demonstrate that the gauge invariant curvature perturbation and graviton on uniform field hypersurfaces in the Jordan frame are equal to their counterparts in the Einstein frame. These frame independent perturbations are therefore particularly useful in relating results in different frames at the perturbative level. On the other hand, the field perturbation and graviton on uniform curvature hypersurfaces in the Jordan and Einstein frame are non-linearly related, as are their corresponding actions and n-point functions.

  7. Emissivity independent optical pyrometer

    Science.gov (United States)

    Earl, Dennis Duncan; Kisner, Roger A.

    2017-04-04

    Disclosed herein are representative embodiments of methods, apparatus, and systems for determining the temperature of an object using an optical pyrometer. Certain embodiments of the disclosed technology allow for making optical temperature measurements that are independent of the surface emissivity of the object being sensed. In one of the exemplary embodiments disclosed herein, a plurality of spectral radiance measurements at a plurality of wavelengths is received from a surface of an object being measured. The plurality of the spectral radiance measurements is fit to a scaled version of a black body curve, the fitting comprising determining a temperature of the scaled version of the black body curve. The temperature is then output. The present disclosure is not to be construed as limiting and is instead directed toward all novel and nonobvious features and aspects of the various disclosed embodiments, alone or in various combinations and subcombinations with one another.

  8. Emissivity independent optical pyrometer

    Energy Technology Data Exchange (ETDEWEB)

    Earl, Dennis Duncan; Kisner, Roger A.

    2017-04-04

    Disclosed herein are representative embodiments of methods, apparatus, and systems for determining the temperature of an object using an optical pyrometer. Certain embodiments of the disclosed technology allow for making optical temperature measurements that are independent of the surface emissivity of the object being sensed. In one of the exemplary embodiments disclosed herein, a plurality of spectral radiance measurements at a plurality of wavelengths is received from a surface of an object being measured. The plurality of the spectral radiance measurements is fit to a scaled version of a black body curve, the fitting comprising determining a temperature of the scaled version of the black body curve. The temperature is then output. The present disclosure is not to be construed as limiting and is instead directed toward all novel and nonobvious features and aspects of the various disclosed embodiments, alone or in various combinations and subcombinations with one another.

  9. The pediatric surgeon's road to research independence: utility of mentor-based National Institutes of Health grants.

    Science.gov (United States)

    King, Alice; Sharma-Crawford, Ian; Shaaban, Aimen F; Inge, Thomas H; Crombleholme, Timothy M; Warner, Brad W; Lovvorn, Harold N; Keswani, Sundeep G

    2013-09-01

    The current research environment for academic surgeons demands that extramural funding be obtained. Financial support from the National Institutes of Health (NIH) is historically the gold standard for funding in the biomedical research community, with the R01 funding mechanism viewed as indicator of research independence. The NIH also supports a mentor-based career development mechanism (K-series awards) in order to support early-stage investigators. The goal of this study was to investigate the grants successfully awarded to pediatric surgeon-scientists and then determine the success of the K-series award recipients at achieving research independence. In July 2012, all current members of the American Pediatric Surgery Association (APSA) were queried in the NIH database from 1988-2012 through the NIH Research Portfolio Online Reporting Tools. The following factors were analyzed: type of grant, institution, amount of funding, and funding institute or center. Among current APSA members, there have been 83 independent investigators receiving grants, representing 13% of the current APSA membership, with 171 independent grants funded through various mechanisms. Six percent currently have active NIH funding, with $7.2 million distributed in 2012. There have been 28 K-series grants awarded. Of the recipients of expired K08 awards, 39% recipients were subsequently awarded an R01 grant. A total of 63% of these K-awarded investigators transitioned to an independent NIH award mechanism. Pediatric surgeon-scientists successfully compete for NIH funding. Our data suggest that although the K-series funding mechanism is not the only path to research independence, over half of the pediatric surgeons who receive a K-award are successful in the transition to independent investigator. Copyright © 2013 Elsevier Inc. All rights reserved.

  10. A Diversified Approach to Funding a Paleontology Program

    Science.gov (United States)

    Dooley, A., Jr.

    2014-12-01

    Routine field collection of fossils and other geologic specimens and maintenance of the resulting collections do not typically receive frequent infusions of large amounts of grant money, in spite of the relatively low costs of these activities and the baseline of data they provide. This type of work is often carried out by chronically-underfunded museums that that must use innovative methods of fundraising to carry out their missions. The Virginia Museum of Natural History (VMNH) is an independent state agency that is not affiliated with a university or any other institution. The VMNH paleontology department carries out frequent excavations of vertebrate fossils at three different localities in Virginia and Wyoming, maintains a collection of several hundred thousand specimens, and conducts original research and participates in professional meetings. Yet the annual operations (non-salary) appropriation for the paleontology department is only $500/year. Since 2007, state appropriations have accounted for only 3% of the department's non-salary funding, while grants (excluding salary-specific funding) have accounted for 27% and cash donations provided 1%. The remaining 69% has come from a diverse suite of alternate fundraising methods. Ecotourism and educational programming fees (37%) include fees paid by students and members of the public to participate in VMNH excavations, as well as fee-based field trips and programs involving fossils or casts. Merchandise sales (15%) are based on casts of specimens held in either the VMNH collections or at smaller museums that have contracted with VMNH to provide paleontology services. Contract work (13%) has included paleo-themed exhibit design, specimen evaluation, and repair of fossil specimens for smaller museums and visitor centers that lack a paleontology staff. A crowdfunding campaign designed to support a specific fossil excavation was responsible for 4% of the department's funds. This diverse range of funding sources has

  11. Patient Advocacy Organizations, Industry Funding, and Conflicts of Interest.

    Science.gov (United States)

    Rose, Susannah L; Highland, Janelle; Karafa, Matthew T; Joffe, Steven

    2017-03-01

    their positions to the interests of corporate donors. Patient advocacy organizations engage in wide-ranging health activities. Although most PAOs receive modest funding from industry, a minority receive substantial industry support, raising added concerns about independence. Many respondents report a need to improve their conflict of interest policies to help maintain public trust.

  12. Funding ATLAS 2012 key indicators for publicly funded research in Germany

    CERN Document Server

    Deutsche Forschungsgemeinschaft (DFG)

    2013-01-01

    The Funding ATLAS is a reporting system (previously referred to as the Funding Ranking) employed by the German Research Foundation (DFG) to provide information in the form of indicators of key developments in publicly funded research in Germany every three years. This English version of the Funding ATLAS 2012 presents selected findings from the more comprehensive German edition. At the core of the report are indicators that provide information on which subject areas have received funding at higher education and other research institutions in the period 2008-2010. This report also includes, as a supplement not found in the German edition, the decisions on the Excellence Initiative, which were taken shortly after the German edition of the Funding ATLAS 2012 was published. The report also addresses the subject of internationality by presenting selected indicators that show how attractive Germany's research institutions are for visiting scientists. In summary, the DFG Funding ATLAS furnishes reliable indicators o...

  13. ELECTIONS PENSION FUND 5th candidate

    CERN Document Server

    2001-01-01

    ORGANISATION EUROPEENNE POUR LA RECHERCHE NUCLEAIRE CERN EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH CAISSE DE PENSIONS / PENSION FUND Caisse de Pensions - ELECTIONS - Pension Fund This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate :  Name : Sonnemann  First Name : Florian Since my arrival at CERN in 1997 I have worked in the accelerator and administrative sectors. I have recently been elected as member of the Staff Council and of the Executive Committee of the Staff Association in which I am actively following matters concerning the Pension Fund. My candidature for the Governing Board of the CERN Pension Fund is mainly motivated to add my part in ensuring a solid financial situation of the Pension Fund. The Pension Fund is our only social security system. I wish to play a role in ensuring that the pensions will remain a secure revenue for all staff membe...

  14. ELECTIONS PENSION FUND CANDIDATE NR 5

    CERN Multimedia

    2001-01-01

    ORGANISATION EUROPEENNE POUR LA RECHERCHE NUCLEAIRE CERN EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH CAISSE DE PENSIONS / PENSION FUND Caisse de Pensions - ELECTIONS - Pension Fund This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate :  Name : Sonnemann  First Name : Florian Since my arrival at CERN in 1997 I have worked in the accelerator and administrative sectors. I have recently been elected as member of the Staff Council and of the Executive Committee of the Staff Association in which I am actively following matters concerning the Pension Fund. My candidature for the Governing Board of the CERN Pension Fund is mainly motivated to add my part in ensuring a solid financial situation of the Pension Fund. The Pension Fund is our only social security system. I wish to play a role in ensuring that the pensions will remain a secure revenue for all staff membe...

  15. Pension Fund - ELECTIONS - Guillermo de la FUENTE

    CERN Multimedia

    2002-01-01

    CERN - EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH PENSION FUND   This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund.   Candidate: Name: de la FUENTE First Name : Guillermo  As CERN treasurer with 12 years experience in finance with a background in Economics coupled with a MBA, my main goal will be to enhance the Pension Fund yield. During 3 consecutive years, our Pension Fund has suffered negative real returns:-1.65% in 2000, -4.26% in 2001 and most probably a double-digit loss this year. In addition to that, we spend annually around CHF 6'000'000 in bank charges and external consultants fees. If we do not change this negative trend, the funding ratio of our Pension Fund might become weak. A more proactive internal fund management in conjunction with a performance-related remuneration to external participants would be some of the points I will propose in order...

  16. DEVELOPMENT OF KOSOVO PENSION SAVING TRUST FUND

    Directory of Open Access Journals (Sweden)

    Ymer Havolli

    2016-11-01

    Full Text Available Pension system in Kosovo has experienced various developments in the last three decades. These changes have been driven by both, political and economic developments. The political developments were most important, especially that the previous system failed due to the lack of access to the fund in the post-war Kosovo. The newly established system in post-war Kosovo continues its operations with principles of modern pension fund, savings-based. KPST was established by Law in December 2001 as a not-for-profit institution. As such, the sole objective of KPST is to serve only the best interests of its contributors. KPST is funded in a similar way as are all defined contribution pension funds i.e. by charging fees on assets under management (pension assets. KPST is funded in a similar way as are all defined contribution pension funds i.e. by charging fees on assets under management (pension assets. Throughout this discussion paper, the implications of the crisis, management, asset management issues and most importantly, investment strategy are discussed and some potential solutions to these problems are proposed in order to increase the flexibility of the fund to improve performance in times of crisis.

  17. PPARγ-Independent Mechanism

    Directory of Open Access Journals (Sweden)

    Christopher M. Hogan

    2011-01-01

    Full Text Available Acute and chronic lung inflammation is associated with numerous important disease pathologies including asthma, chronic obstructive pulmonary disease and silicosis. Lung fibroblasts are a novel and important target of anti-inflammatory therapy, as they orchestrate, respond to, and amplify inflammatory cascades and are the key cell in the pathogenesis of lung fibrosis. Peroxisome proliferator-activated receptor gamma (PPARγ ligands are small molecules that induce anti-inflammatory responses in a variety of tissues. Here, we report for the first time that PPARγ ligands have potent anti-inflammatory effects on human lung fibroblasts. 2-cyano-3, 12-dioxoolean-1, 9-dien-28-oic acid (CDDO and 15-deoxy-Δ12,14-prostaglandin J2 (15d-PGJ2 inhibit production of the inflammatory mediators interleukin-6 (IL-6, monocyte chemoattractant protein-1 (MCP-1, COX-2, and prostaglandin (PGE2 in primary human lung fibroblasts stimulated with either IL-1β or silica. The anti-inflammatory properties of these molecules are not blocked by the PPARγ antagonist GW9662 and thus are largely PPARγ independent. However, they are dependent on the presence of an electrophilic carbon. CDDO and 15d-PGJ2, but not rosiglitazone, inhibited NF-κB activity. These results demonstrate that CDDO and 15d-PGJ2 are potent attenuators of proinflammatory responses in lung fibroblasts and suggest that these molecules should be explored as the basis for novel, targeted anti-inflammatory therapies in the lung and other organs.

  18. E-Commerce New Venture Performance: How Funding Impacts Culture.

    Science.gov (United States)

    Hamilton, R. H.

    2001-01-01

    Explores the three primary methods of funding for e-commerce startups and the impact that funding criteria have had on the resulting organizational cultures. Highlights include self-funded firms; venture capital funding; corporate funding; and a table that compares the three types, including examples. (LRW)

  19. 77 FR 63360 - Permal Hedge Strategies Fund, et al.;

    Science.gov (United States)

    2012-10-16

    ... COMMISSION Permal Hedge Strategies Fund, et al.; Notice of Application October 9, 2012. AGENCY: Securities... distribution and service fees. Applicants: Permal Hedge Strategies Fund (``Fund''), Legg Mason Partners Fund.../search.htm or by calling (202) 551-8090. Applicants' Representations: 1. The Fund is a...

  20. 25 CFR 87.11 - Investment of judgment funds.

    Science.gov (United States)

    2010-04-01

    ... 25 Indians 1 2010-04-01 2010-04-01 false Investment of judgment funds. 87.11 Section 87.11 Indians... JUDGMENT FUNDS § 87.11 Investment of judgment funds. As soon as possible after the appropriation of... distribution of the funds, the Commissioner shall invest such funds pursuant to 25 U.S.C. 162a. Investments...

  1. E-Commerce New Venture Performance: How Funding Impacts Culture.

    Science.gov (United States)

    Hamilton, R. H.

    2001-01-01

    Explores the three primary methods of funding for e-commerce startups and the impact that funding criteria have had on the resulting organizational cultures. Highlights include self-funded firms; venture capital funding; corporate funding; and a table that compares the three types, including examples. (LRW)

  2. 76 FR 38432 - TIAA-CREF Funds, et al.; Notice of Application

    Science.gov (United States)

    2011-06-30

    ..., Emerging Markets Equity Fund, Emerging Markets Equity Index Fund, Enhanced International Equity Index Fund... Fund, Emerging Markets Equity Fund, Emerging Markets Equity Index Fund, Enhanced International Equity... Market Fund, Real Estate Securities Fund, Short-Term Bond Fund, Small-Cap Equity Fund; Teachers...

  3. Annual Information Meeting of the Pension Fund

    CERN Multimedia

    2014-01-01

    All members and beneficiaries of the Pension Fund are invited to attend the Annual Information Meeting.   Annual Information Meeting to be held in the CERN Council Chamber on Tuesday, 16 September 2014 from 9.00 a.m. to 10.30 a.m. Copies of the 2013 Pension Fund Financial Statements are already available in accessible PDF on the Pension Fund website and will also be distributed at this session. Coffee and croissants will be served prior to the meeting as of 8:30 a.m. N.B. Date change: 16 September 2014

  4. Performance appraisal of Croatian mandatory pension funds

    Directory of Open Access Journals (Sweden)

    Pierre Matek

    2016-03-01

    Full Text Available The goal of this paper is to determine whether managers of Croatian mandatory pension funds have displayed investment skill on a risk-adjusted basis during the 2005-2014 period. We have calculated various risk-adjusted investment performance measures and have then used a number of statistical tools to test the significance of the results. Evidence from our analysis suggests that Croatian mandatory pension funds have reached their investment targets in terms of risk-free rates or benchmarks. Evidence of investment skill was found in some of the funds analysed.

  5. Indian mutual fund industry: Opportunities and challenges

    Directory of Open Access Journals (Sweden)

    Jayant R. Kale

    2012-12-01

    Full Text Available This article presents an overview of the mutual fund industry in India and the reasons for its poor penetration, which includes lack of objective research. It benchmarks the industry globally, and raises key issues regarding the ownership and performance of mutual funds, the sensitivity of fund flows to performance, and the importance of regulation to its growth, all of which have been largely under researched in India. It then captures the views of leading practitioners on these and other issues, including the challenges posed by poor financial literacy, the equity culture in the country, and the weakly supportive regulatory environment.

  6. A sunny spell at the Pension Fund

    CERN Multimedia

    Association du personnel

    2006-01-01

    It is always nice to receive good news, especially at this time. That of the disappearance of the Organization's debt to the Pension Fund, by a Council decision in June, was a relief to us. That of the very good return in 2005 (+12.4%) on the Fund's investments only partly reassured us after carefully reading the last report by the actuary. In his last editorial (CERN Bulletin 27/28), the Director-General considers that "the news from the Pension Fund is good". We are not so optimistic.

  7. Media independence and dividend policy

    DEFF Research Database (Denmark)

    Farooq, Omar; Dandoune, Salma

    2012-01-01

    independence and dividend policies in emerging markets. Using a dataset from twenty three emerging markets, we show a significantly negative relationship between dividend policies (payout ratio and decision to pay dividend) and media independence. We argue that independent media reduces information asymmetries...... for stock market participants. Consequently, stock market participants in emerging markets with more independent media do not demand as high and as much dividends as their counterparts in emerging markets with less independent media. We also show that press independence is more important in defining......Can media pressurize managers to disgorge excess cash to shareholders? Do firms in countries with more independent media follow different dividend policies than firms with less independent media? This paper seeks to answer these questions and aims to document the relationship between media...

  8. Media independence and dividend policy

    DEFF Research Database (Denmark)

    Farooq, Omar; Dandoune, Salma

    2012-01-01

    for stock market participants. Consequently, stock market participants in emerging markets with more independent media do not demand as high and as much dividends as their counterparts in emerging markets with less independent media. We also show that press independence is more important in defining...... independence and dividend policies in emerging markets. Using a dataset from twenty three emerging markets, we show a significantly negative relationship between dividend policies (payout ratio and decision to pay dividend) and media independence. We argue that independent media reduces information asymmetries......Can media pressurize managers to disgorge excess cash to shareholders? Do firms in countries with more independent media follow different dividend policies than firms with less independent media? This paper seeks to answer these questions and aims to document the relationship between media...

  9. Independent sets in chain cacti

    OpenAIRE

    Sedlar, Jelena

    2011-01-01

    In this paper chain cacti are considered. First, for two specific classes of chain cacti (orto-chains and meta-chains of cycles with h vertices) the recurrence relation for independence polynomial is derived. That recurrence relation is then used in deriving explicit expressions for independence number and number of maximum independent sets for such chains. Also, the recurrence relation for total number of independent sets for such graphs is derived. Finaly, the proof is provided that orto-ch...

  10. Reporting of sources of funding in systematic reviews in periodontology and implant dentistry.

    Science.gov (United States)

    Faggion, C M; Atieh, M; Zanicotti, D G

    2014-02-01

    Industry-supported clinical trials may present better outcomes than those supported by other sources. The aim of this paper was to assess whether systematic reviews (SRs) published in periodontology and implant dentistry report and discuss the influence of funding sources on study results. Two reviewers conducted a comprehensive search in PubMed and the Cochrane Database of Systematic Reviews independently and in duplicate to identify SRs published up to 11 November 2012. Speciality dental journals and the reference lists of included SRs were also scrutinised. Information on the reporting and discussion of funding sources of primary studies included in the SRs was extracted independently and in duplicate. Any disagreement regarding SR selection or data extraction was discussed until consensus was achieved. Of 146 SRs included in the assessment, only 45 (31%) reported the funding sources of primary studies. Fourteen (10%) SRs discussed the potential influence of funding sources on study results, that is, sponsorship bias. Funding sources are inadequately reported and discussed in SRs in periodontology and implant dentistry. Assessment, reporting, and critical appraisal of potential sponsorship bias of meta-analytic estimates are paramount to provide proper guidance for clinical treatments.

  11. Studying the Independent School Library

    Science.gov (United States)

    Cahoy, Ellysa Stern; Williamson, Susan G.

    2008-01-01

    In 2005, the American Association of School Librarians' Independent Schools Section conducted a national survey of independent school libraries. This article analyzes the results of the survey, reporting specialized data and information regarding independent school library budgets, collections, services, facilities, and staffing. Additionally, the…

  12. 25 CFR 170.301 - Can a tribe use IRR Program funds to leverage other funds or pay back loans?

    Science.gov (United States)

    2010-04-01

    ... or pay back loans? 170.301 Section 170.301 Indians BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE... Financing § 170.301 Can a tribe use IRR Program funds to leverage other funds or pay back loans? (a) A tribe can use IRR Program funds to leverage other funds. (b) A tribe can use IRR Program funds to pay...

  13. General meeting of the Pension Fund

    CERN Multimedia

    CERN Pension Fund

    2010-01-01

    All members and beneficiaries of the Pension Fund are invited to attend the Annual General Meeting to be held in the CERN Council Room on Monday 6 September 2010 from 14:00 to 16:30 p.m. The Agenda comprises: Opening Remarks - F. Ferrini Presentation of the 2009 Financial Statements - T. Economou Copies of the 2009 Financial Statements are available from Departmental Secretariats. Management Update - T. Economou Report by the Chairman of the Pension Fund Governing Board - F. Ferrini Questions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to the Secretariat of the Pension Fund. Conclusions - F. Ferrini As usual, participants are invited to drinks after the Meeting. NB\tThe minutes of the 2009 General Meeting are available from the Administration of the Fund (tel. + 41 22 767 27 42 ; e-mail Barbara.Brugger@cern.ch)

  14. Student Attitudes Towards Public Funding Of Astronomy

    Science.gov (United States)

    Stine, Peter

    2009-01-01

    Research in astronomy is strongly dependent on public (taxpayer) dollars. In this study we examine the attitudes of college students toward funding of astronomy projects. A survey was given to 269 college students prior to taking an introductory astronomy course. Students were given a short test designed to examine misconceptions about astronomy. They were then asked about their willingness to support public funding for astronomy projects. Students with fundamental misconceptions about mundane topics such as the cause of the seasons and phases of the moon were less than half as likely to support public funding of astronomy projects. Results are also reported showing the relationship between a willingness to fund projects and whether the students had experiences including reading books or magazines on astronomy, exposure to astronomy in high school, and using a telescope.

  15. From Funding Liquidity to Market Liquidity

    DEFF Research Database (Denmark)

    Dick-Nielsen, Jens; Lund, Jesper; Gyntelberg, Jacob

    This paper shows empirically that funding liquidity drives market liquidity. As it becomes harder to secure term funding in the money markets, liquidity deteriorates in the Danish bond market. We show that the first principal component of bond market liquidity is driven by the market makers' abil...... for other European government bonds using MTS data. The findings suggest that regulatory bond based liquidity buffers for banks will have limited effectiveness.......This paper shows empirically that funding liquidity drives market liquidity. As it becomes harder to secure term funding in the money markets, liquidity deteriorates in the Danish bond market. We show that the first principal component of bond market liquidity is driven by the market makers...

  16. Center Innovation Fund: KSC CIF Program

    Data.gov (United States)

    National Aeronautics and Space Administration — Each individual NASA Center has full discretion on the use of the funds and the Center Chief Technologists coordinates a competitive process at their Center for the...

  17. Government hits back at funding claims

    CERN Multimedia

    Tallentire, Mark

    2007-01-01

    "The Government has defended its record on funding science, following criticism from Durham University.... The professors said the budget black hole put their world-leading research in particle physics and astronomy at risk." (1/2 page)

  18. US Forest Service Brush Disposal Funded Activities

    Data.gov (United States)

    US Forest Service, Department of Agriculture — A map service on the www that depicts the area of activities funded through BDBD and PPPP budget line item and reported through the FACTS database. The objective of...

  19. Social Security Funds Clamor for Reform

    Institute of Scientific and Technical Information of China (English)

    郑秉文

    2008-01-01

    This paper analyzed the institutional deficiencies inherent in China’s social security system based on a dissection of various social security fund violations. It holds that the unscientific design in social security system is the root cause for social security fund violations, which is reflected in low level of social security unification, irrational investment system and legislative loopholes etc. Currently, China’s social security funds are facing risks in management and in system; The key of risk control lies in the reforming of the overall framework of social security system through the following aspects: 1) readjust the unified account system structure to raise the level of unification; 2) reform funds investment system to boost ROI; 3) speeding up legislative to regulate the administrative costs and the behaviors of its entities.

  20. Funding shapes the anatomy of scientific research

    CERN Document Server

    Ma, Athen; Latora, Vito

    2015-01-01

    Research projects are primarily collaborative in nature through internal and external partnerships, but what role does funding play in their formation? Here, we examined over 43,000 funded projects in the past three decades, enabling us to characterise changes in the funding landscape and their impacts on the underlying collaboration patterns. We observed rising inequality in the distribution of funding and its effect was most noticeable at the institutional level in which the leading universities diversified their collaborations and increasingly became the knowledge brokers. Furthermore, these universities formed a cohesive core through their close ties, and such reliance appeared to be a key for their research success, with the elites in the core over-attracting resources but in turn rewarding in both research breadth and depth. Our results reveal how collaboration networks undergo previously unknown adaptive organisation in response to external driving forces, which can have far-reaching implications for f...

  1. The Commonwealth Fund - Maps and Data

    Data.gov (United States)

    U.S. Department of Health & Human Services — Welcome to the Maps and Data section, home to ChartCart, which allow you to create your own collections of Commonwealth Fund charts, and the Health System Data...

  2. Leaking Underground Storage Tank (LUST) Trust Fund

    Science.gov (United States)

    In 1986, Congress created the Leaking Underground Storage Tank (LUST) Trust Fund to address releases from federally regulated underground storage tanks (USTs) by amending Subtitle I of the Solid Waste Disposal Act.

  3. CERN Participation in the Digital Solidarity Fund

    CERN Document Server

    2006-01-01

    Following the information given to the Council at its December 2005 Session regarding CERN's participation in the Digital Solidarity Fund (DSF), the Finance Committee is invited to take note of the information provided in this document.

  4. 75 FR 12422 - Notice of Funds Availability

    Science.gov (United States)

    2010-03-15

    ... are not limited to, a comprehensive, consolidated, or redevelopment plan, or some other local or...-Metropolitan Counties can be identified in the CDFI Fund's mapping system (CIMS), and are also listed on the...

  5. SF Bay Water Quality Improvement Fund

    Science.gov (United States)

    EPAs grant program to protect and restore San Francisco Bay. The San Francisco Bay Water Quality Improvement Fund (SFBWQIF) has invested in 58 projects along with 70 partners contributing to restore wetlands, water quality, and reduce polluted runoff.,

  6. Libraries Succeed at Funding Books and Bytes.

    Science.gov (United States)

    St. Lifer, Evan

    1999-01-01

    Presents the annual budget report for public libraries for 1999, including budget projections; local taxes; rise of technology budgets; materials, salary, and operating budgets; per capita funding; fundraising; net costs; and the role of the Gates Library Foundation. (LRW)

  7. Center Innovation Fund: JPL CIF Program

    Data.gov (United States)

    National Aeronautics and Space Administration — Funds are distributed to each NASA Center to support emerging technologies and creative initiatives that leverage Center talent and capabilities. NASA scientists and...

  8. Elections to the Mutual Aid Fund

    CERN Multimedia

    2016-01-01

    Every two years, according to Article 6 of the Regulations of the Mutual Aid Fund, the Committee of the Mutual Aid Fund must renew one third of its membership. This year three members are outgoing. Of these three, two will stand again and one will not.   Candidates should be ready to give approximately two hours a month during working time to the Fund whose aim is to assist colleagues in financial difficulties. We invite applications from CERN Staff who wish to stand for election as a member of the CERN Mutual Aid Fund to send in their application before 17 June 2016, by email to the Fund’s President, Connie Potter (connie.potter@cern.ch).

  9. THE ALLOCATION OF EUROPEAN FUNDS IN ROMANIA

    Directory of Open Access Journals (Sweden)

    Ana Monica POP

    2014-04-01

    Full Text Available In this paper we try to analyze the extent to which economic and social cohesion of the enlarged European Union in order to develop a harmonious, balanced and sustainable community has been achieved with the Funds, the European Investment Bank (EIB and other financial instruments and how Romania attracts or not such funds. We analyzed using the statistical data, the absorption and implementation of funds in Romania. Consequently, we present only the results. Conclusions outlined the reducing of the economic, social and territorial disparities which have arisen particularly in regions with developmental delays and in relation to economic and social reorganization. The most important benefits of funding (in general are the growth, the competitive advantage, the employment and improvement of the environment.

  10. Governing Board of the Pension Fund

    CERN Multimedia

    2007-01-01

    All members and beneficiaries of the Pension Fund are invited to attend the Annual General Meeting to be held in the CERN Main Auditorium on Thursday 8 November 2007 at 2 p.m. The Agenda comprises: 1.\tOpening Remarks (F. Ferrini) 2.\tResults and presentation of the Annual Report 2006 (C. Cuénoud) (Copies of the 2006 Report are available from Departmental secretariats). 3.\tNew Governance of the Pension Fund (D. Duret) 4.\tQuestions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them in writing in advance, where possible, to Mr C. Cuénoud, Administrator of the Fund. 5.\tConclusions (F. Ferrini) As usual, participants are invited to drinks after the Meeting. NB The minutes of the 2006 General Meeting are available from the Administration of the Fund (tel.(+4122)767 27 42; e-mail Sophia.Revol@cern.ch)

  11. Governing Board of the Pension Fund

    CERN Multimedia

    2007-01-01

    All members and beneficiaries of the Pension Fund are invited to attend the Annual General Meeting to be held in the CERN Main Auditorium on Thursday 8 November 2007 at 2 p.m. The Agenda comprises: 1.\tOpening Remarks (F. Ferrini) 2.\tResults and presentation of the Annual Report 2006 (C. Cuénoud) (Copies of the 2006 Report are available from Departmental secretariats). 3.\tNew Governance of the Pension Fund (D. Duret) 4.\tQuestions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them in writing in advance, where possible, to Mr C. Cuénoud, Administrator of the Fund. 5.\tConclusions (F. Ferrini) As usual, participants are invited to drinks after the Meeting. NB The minutes of the 2006 General Meeting are available from the Administration of the Fund (tel.(+ 41 22) 767 27 42; e-mail Sophia.Revol@cern.ch)

  12. Governing Board of the Pension Fund

    CERN Multimedia

    2007-01-01

    All members and beneficiaries of the Pension Fund are invited to attend the Annual General Meeting to be held in the CERN Main Auditorium on Thursday 8 November 2007 at 2 p.m. The Agenda comprises: 1.\tOpening Remarks (F. Ferrini) 2.\tResults and presentation of the Annual Report 2006 (C. Cuénoud) (Copies of the 2006 Report are available from Departmental secretariats). 3.\tNew Governance of the Pension Fund (D. Duret) 4.\tQuestions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them in writing in advance, where possible, to Mr C. Cuénoud, Administrator of the Fund. 5.\tConclusions (F. Ferrini) As usual, participants are invited to drinks after the Meeting. NB The minutes of the 2006 General Meeting are available from the Administration of the Fund (tel. + 41 22 767 27 42; e-mail Sophia.Revol@cern.ch)

  13. 48 CFR 3432.771 - Provision for incremental funding.

    Science.gov (United States)

    2010-10-01

    ... funding. 3432.771 Section 3432.771 Federal Acquisition Regulations System DEPARTMENT OF EDUCATION ACQUISITION REGULATION GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING Contract Funding 3432.771 Provision for incremental funding. The contracting officer shall insert the provision in...

  14. 77 FR 37742 - Community Development Financial Institutions Fund

    Science.gov (United States)

    2012-06-22

    ... Investments. Service Activities (12 CFR 1806.103(nn)) include Deposit Liabilities, Financial Services, Community Services, Targeted Financial Services, and Targeted Retail Savings/Investment Products. When... Community Development Financial Institutions Fund Funding Opportunity Title: Notice of Funds Availability...

  15. Speed of information diffusion within fund families

    OpenAIRE

    Cici, Gjergji; Jaspersen, Stefan; KEMPF Alexander

    2015-01-01

    We document that the speed of information dissemination within mutual fund families positively affects the performance of member funds. This suggests that the resulting benefits of higher information precision far outweigh free-riding costs associated with fast internal dissemination. The performance effect intensifies when information travels across managers from different rather than same styles. This is consistent with fast information diffusion aggregating complementary insights that shar...

  16. Annual Information Meeting of the Pension Fund

    CERN Multimedia

    2013-01-01

    All members and beneficiaries of the Pension Fund are invited to attend the   Annual Information Meeting to be held in the CERN Council Chamber on  Wednesday, 11 September 2013 from 10.00 a.m. to 12.00 midday. Copies of the 2012 Pension Fund Financial Statements can be obtained from departmental secretariats and will also be available at the meeting.

  17. Further Evidence on Hedge Funds Performance

    DEFF Research Database (Denmark)

    Christiansen, Claus Bang; Madsen, Peter Brink; Christensen, Michael

    2003-01-01

    In this analysis we identify dynamic hedge fund strategies quantitatively pursuing a Principal Component Analysis following Fung and Hsieh (1997). We extract five dominant hedge fund strategies each representing similar investment styles and analyse the performance of each strategy by employing...... a multi-factor model comprising both market indices and passive option strategies among the lines of Agerwal and Naik (2000). We find that the majority of five homogenous strategies show superior performance. However, correcting for survivorship bias this superior performance disappears....

  18. Annual Information Meeting of the Pension Fund

    CERN Multimedia

    2013-01-01

    All members and beneficiaries of the Pension Fund are invited to attend the   Annual Information Meeting to be held in the CERN Council Chamber on  Wednesday, 11 September 2013 from 10.00 a.m. to 12.00 midday. Copies of the 2012 Pension Fund Financial Statements can be obtained from departmental secretariats and will also be available at the meeting.

  19. Incentive Contracting For Venture Capital Fund Managers

    Science.gov (United States)

    Leisen, Dietmar P. J.

    2009-09-01

    It is well-known in the VC literature that VCs should provide so-called value-adding activities that nurture their venture companies. This paper presents a model of the VC market that takes account of the so-called carried interest on the choice of the risk level and actions. We determine the optimal actions of the fund managers and what would be the desired actions of the fund's investors. Conflicts of interest between the parties will be documented.

  20. Federal Research and Development Funding: FY2014

    Science.gov (United States)

    2014-02-19

    storage, concentrating solar power, a demonstration of commercial-scale biofuels production under the Defense Production Act,56 and grid integration for...President’s request, funding for R&D has been highly concentrated in a few departments. Under President Obama’s request, seven federal agencies... microbial contamination.29 In FY2012, four agencies—NSF, NIH, NASA, and USDA—issued a joint solicitation to provide research funding for next

  1. Federal Research and Development Funding: FY2017

    Science.gov (United States)

    2016-06-24

    centers in the field of subsurface geochemistry and geophysics. A new activity in computational chemical sciences would receive $14 million. Funding...other purposes.” 61 The NSF is a primary source of federal support for U.S. university research, especially in mathematics and computer science . It...Gonzalez; and CRS Report R44170, The National Science Foundation: FY2016 Budget Request and Funding History , by Heather B. Gonzalez. Federal Research and

  2. Loanable funds, risk, and bank service output

    OpenAIRE

    J. Christina Wang

    2003-01-01

    This paper develops a unified theory of bank operations that integrates theories of financial intermediation, asset pricing, and production. In a simple dynamic model, banks maximize the present value of future profits generated through three categories of qualitatively distinct functions: (1) resolving information asymmetry in order to make loans, (2) providing transaction services, and (3) financing loans with borrowed funds. Risk determines the rate of return on the funds and in turn the d...

  3. Horizontal/Vertical Stock Fund Cost Comparison

    Science.gov (United States)

    1974-08-01

    and the Stock Fund as They Relate to the Logistics System, HQ Third US Army, Fort McPhers on, Georgi a The Standardization of DOD Stock Fund...Installations and Logistics: Mr. Howard Mai tingly COL Thomas L. Stovall rnn fliKiMiMWiMMiiii E-3 Assistant Secretary of the Army (cont) US Army...Management Information Systems: Mr. Cliff L. Harrell AVSCOM Directorate of Materiel Management; Mr. B. Howard Mr. J. Moro Mr. Charles

  4. Performance indicators for SMEs accessing EU funds

    OpenAIRE

    2013-01-01

    Being the best supporters of national economies Small and Medium Sized Enterprises are actively searching alternative sources of finance for sustaining their goals and their performances. European Union is sustaining the SMEs access to finance by direct funding: grants from the European Commission and indirect funding: financial intermediaries in the SMEs origin country. Considering the importance of SMEs for national and European economy we will analyze the relationship between the EU fundin...

  5. Measuring Diversity of the National Institutes of Health-Funded Workforce.

    Science.gov (United States)

    Heggeness, Misty L; Evans, Lisa; Pohlhaus, Jennifer Reineke; Mills, Sherry L

    2016-08-01

    To measure diversity within the National Institutes of Health (NIH)-funded workforce. The authors use a relevant labor market perspective to more directly understand what the NIH can influence in terms of enhancing diversity through NIH policies. Using the relevant labor market (defined as persons with advanced degrees working as biomedical scientists in the United States) as the conceptual framework, and informed by accepted economic principles, the authors used the American Community Survey and NIH administrative data to calculate representation ratios of the NIH-funded biomedical workforce from 2008 to 2012 by race, ethnicity, sex, and citizenship status, and compared this against the pool of characteristic individuals in the potential labor market. In general, the U.S. population during this time period was an inaccurate comparison group for measuring diversity of the NIH-funded scientific workforce. Measuring accurately, we found the representation of women and traditionally underrepresented groups in NIH-supported postdoc fellowships and traineeships and mentored career development programs was greater than their representation in the relevant labor market. The same analysis found these demographic groups are less represented in the NIH-funded independent investigator pool. Although these findings provided a picture of the current NIH-funded workforce and a foundation for understanding the federal role in developing, maintaining, and renewing diverse scientific human resources, further study is needed to identify whether junior- and early-stage investigators who are part of more diverse cohorts will naturally transition into independent NIH-funded investigators, or whether they will leave the workforce before achieving independent researcher status.

  6. The use of fund accounting and the need for single fund reporting by institutional healthcare providers. Principles and Practices Board Statement No. 8. Healthcare Financial Management Association.

    Science.gov (United States)

    1986-06-01

    For many years, hospitals and other institutional healthcare providers used fund accounting as a basis for presenting their financial statements. Recently, authoritative literature has placed less emphasis on separate fund reporting. This is evidenced by the reduction of fund classifications specified in the literature. This trend seems to follow the recognition that institutional healthcare activities should be reported in a manner comparable to other businesses. The Principles and Practices Board (P&P Board) of the Healthcare Financial management Association believes that general purpose financial statements of institutional healthcare providers should be comparable to reporting by other businesses. That is, all assets, liabilities, and equity are presented in a single aggregated balance sheet without differentiation by fund. This form of presentation, referred to in this statement as single fund reporting, should be used by all institutional healthcare providers including those that are part of HMOs, universities, municipalities, and other larger entities when separate reports of the provider are issued. The P&P Board is studying other significant issues concerning the reporting of revenues and components of equity and changes therein. The conclusion in this statement can be implemented even though conclusions on these related subjects are not yet complete. The P&P Board recognizes that certain circumstances may require detailed records and reports for special purposes. This statement deals only with those general purpose financial statements on which an independent accountant's opinion is expressed.

  7. Shifting investments strategy from equity funds to money market funds – the case of Romanian open - end fund market during the financial crisis

    Directory of Open Access Journals (Sweden)

    Radu, I.

    2012-01-01

    Full Text Available Mutual funds are one of the key suppliers of liquidity in Romanian capital market. This paper uses quarterly data on Romanian open-end funds starting with 2006 until 2010. We find that significant negative flows (outflows were registered beginning with the end of 2007 (equity funds, during 2008 (equity funds, balanced funds, other funds and bond funds in the last 2 quarters of the year and from 2009 to 2010 (in the case of money market funds. There is evidence that the changing market conditions attract differently the incoming flows in these mutual funds. This is the reason why such perturbations affect investors’ confidence for these investment vehicles and impose the reorientation of the investment funds and of their investors to other alternatives in order to preserve their capital.

  8. Independent sets in chain cacti

    CERN Document Server

    Sedlar, Jelena

    2011-01-01

    In this paper chain cacti are considered. First, for two specific classes of chain cacti (orto-chains and meta-chains of cycles with h vertices) the recurrence relation for independence polynomial is derived. That recurrence relation is then used in deriving explicit expressions for independence number and number of maximum independent sets for such chains. Also, the recurrence relation for total number of independent sets for such graphs is derived. Finaly, the proof is provided that orto-chains and meta-chains are the only extremal chain cacti with respect to total number of independent sets (orto-chains minimal and meta-chains maximal).

  9. GOVERNING BOARD OF THE PENSION FUND

    CERN Multimedia

    2002-01-01

    All members and beneficiaries of the Pension Fund are invited to attend the Annual General Asssembly to be held in the CERN Auditorium on Wednesday 2 October 2002 at 14.30 hrs The Agenda comprises: Opening Remarks (P. Levaux) Recent trends in the technical balance of pension funds (C. Cuénoud) Annual Report 2001: Presentation and results (C. Cuénoud) Copies of the Report are available from divisional secretariats. Position of the CERN Pension Fund with respect to market developments (G. Maurin) Questions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to Mr C. Cuénoud, Administrator of the Fund. Conclusions (P. Levaux) As usual, participants are invited to drinks after the assembly. NB The minutes of the 2001 General Assembly are available from the Administration of the Fund (tel.(+4122)767 9194; e-mail Graziella.Praire@cern.ch) SOME ASPECTS OF THE FUND'S ACTIVITIES IN 2001 The Governing Board (at 31 De...

  10. GOVERNING BOARD OF THE PENSION FUND

    CERN Multimedia

    2002-01-01

    All members and beneficiaries of the Pension Fund are invited to attend the Annual General Asssembly to be held in the CERN Auditorium on Wednesday 2 October 2002 at 14.30 hrs The Agenda comprises: Opening Remarks (P. Levaux) Recent trends in the technical balance of pension funds (C. Cuénoud) Annual Report 2001: Presentation and results (C. Cuénoud) Copies of the Report are available from divisional secretariats. Position of the CERN Pension Fund with respect to market developments (G. Maurin) Questions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to Mr C. Cuénoud, Administrator of the Fund. Conclusions (P. Levaux) As usual, participants are invited to drinks after the assembly. NB The minutes of the 2001 General Assembly are available from the Administration of the Fund (tel.(+4122)767 9194; e-mail Graziella.Praire@cern.ch) SOME ASPECTS OF THE FUND'S ACTIVITIES IN 2001...

  11. ELECTIONS PENSION FUND CANDIDATE NO 2

    CERN Multimedia

    2000-01-01

    This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund.   Candidate: Name: RANJARDFirst Name: Florence Having been a member of the Governing Board of the Pension Fund since 1983 as Guy Maurin’s alternate, I am standing for a further 3-year term of office. Over the past few years work has concentrated essentially on following items: Monitoring of the work of the fund managers and their performances. The three-yearly study of the Fund’s actuarial situation. The pension guarantees ­ second phase. The Fund is approaching its maturity: the level of benefits exceeds contributions. In this context it has to strike a suitable balance between management of the risk from a dynamic investment policy, while a prudent policy avoiding any significant loss of its capital. These will be my concerns within the Governing Board of the Pension Fund if you...

  12. Governing Board of the Pension Fund

    CERN Document Server

    2006-01-01

    The Governing Board held its 146th and 147th meetings on 19 September and 1 November 2006 respectively. At the first of these two meetings, a technical amendment to the Rules of the Fund was discussed regarding the annual adjustment of pensions. The Governing Board made a proposal, which was approved by the CERN Council at its meeting on 19 October 2006, to make an amendment to Article II 1.15 of the Pension Fund's Rules (see below). As a result, in future years, as long as the funding ratio of the Pension Fund is below 100 %, only a fraction of the observed inflation will be granted, so that the funding ratio reaches 100 % by the end of 2033. The cumulated loss in purchasing power incurred by any beneficiary shall be limited to 8 % maximum (including, for those concerned, the 1.7 % loss as at 1 January 2005). The parameters of this mechanism shall be reviewed after each actuarial review, to take into account the updated financial position of the Fund. The factor to be applied to the consumer price index f...

  13. Sovereign Wealth Funds: Issue of transparency

    Directory of Open Access Journals (Sweden)

    Petrović Daliborka

    2015-01-01

    Full Text Available Subject of the paper includes Sovereign Wealth Funds and the formation of the first regulatory framework for their investment activities. Sovereign Wealth Funds invested a significant amount of money in Western financial institutions during the global financial crisis and thus played a crucial role in the preservation and stabilization of the global financial system. However, at the same time, a large gap between the financial power of Sovereign Wealth Funds and the level of their transparency was noted. The need to improve the transparency of Sovereign Wealth Funds has been recognized by international institutions, the OECD and the IMF, which initiated the formulation of the first international regulatory framework regarding the operations of these types of funds. The current international regulatory framework represents a sufficient basis for the gradual improvement of transparency, but because of its non-binding and voluntary nature, certain issues such as the protection of national security interests remain open. Therefore, the solutions can be sought through a process of continuous improvement of international regulation as well as strengthening cooperation between Sovereign Wealth Funds and governments of countries in which they invest.

  14. Governing Board of the Pension Fund

    CERN Multimedia

    2006-01-01

    Most of the discussions at the meetings of the Governing Board of the Pension Fund on 20 September, 13 October and 15 November 2005 led to decisions by the Council at its Session on 15 and 16 December 2005 that will shape the future of the Pension Fund in more ways than one. The summary of these three most recent meetings of the Governing Board therefore focuses on the Council's decisions concerning: a package of equilibration measures for the CERN Pension Fund, consisting of proposals by the Governing Board and by the CERN Management; amendments to the Rules of the Pension Fund concerning family composition; an amendment to the Rules of the Pension Fund introducing a new Article III 1.06, 'The extension of the contract of a staff member beyond the age limit of 65'; the payment of compensation to the Pension Fund for the reduction observed in staff numbers between 2001 and 2004; the indexation of pensions for 2006. Regarding the first point above, the following measures were approved: The use of more r...

  15. Research of Factors Affecting Pension Funds Efficiency

    Directory of Open Access Journals (Sweden)

    Marius Liutvinavičius

    2013-08-01

    Full Text Available Currently Lithuania has an old-age pension system of three pillars. Unfortunately, when making an investment decision, too few factors are used that affect strategy effectiveness. It is necessary to develop tools to better assess the risks and more accurately simulate the potential long-term investment scenarios. The article deals with the investment strategy to the second and third pillar pension funds in order to maximize investment returns and reduce risks. A smart software tool allows you to simulate an accrual depending on the rate of return, the accumulation period, the level of contributions, the fund’s profitability and other factors. The study shows that using the Social Insurance Fund contributions, personal contributions and the state provided additives can accumulate significantly greater amounts of money than collecting only the second pillar pension funds contributions. For implementation of the proposed methodology it is necessary to ensure a minimum level of personal pension scheme members fundraising to the third pillar pension funds. On the other hand, the study revealed that in some cases investment to private pension funds can be useless. Private pension funds have become popular between unprofessional investors who don’t have sufficient knowledge. Research shows that financial institutions do not always provide the optimal proposals. Advanced software tools can help make better investment decisions. Commercial tools usually show potential profits of investment, but not always pay sufficient  attention to potential risks. This article analyzes both good and bad investment scenarios.

  16. Research of Factors Affecting Pension Funds Efficiency

    Directory of Open Access Journals (Sweden)

    Virgilijus Sakalauskas

    2011-12-01

    Full Text Available Currently Lithuania has an old-age pension system of three pillars.Unfortunately, when making an investment decision, too few factors are used that affect strategy effectiveness. It is necessary to develop tools to better assess the risks and more accurately simulate the potential long-term investment scenarios.The article deals with the investment strategy to the second and third pillar pension funds in order to maximize investment returns and reduce risks. A smart software tool allows you to simulate an accrual depending on the rate of return, the accumulation period, the level of contributions, the fund’s profitability and other factors.The study shows that using the Social Insurance Fund contributions, personal contributions and the state provided additives can accumulate significantly greater amounts of money than collecting only the second pillar pension funds contributions. For implementation of the proposed methodology it is necessary to ensure a minimum level of personal pension scheme members fundraising to the third pillar pension funds. On the other hand, the study revealed that in some cases investment to private pension funds can be useless.Private pension funds have become popular between unprofessional investors who don’t have sufficient knowledge. Research shows that financial institutions do not always provide the optimal proposals. Advanced software tools can help make better investment decisions. Commercial tools usually show potential profits of investment, but not always pay sufficient attention to potential risks. This article analyzes both good and bad investment scenarios.

  17. The Governing Board of the Pension Fund

    CERN Multimedia

    2007-01-01

    The Governing Board of the Pension Fund held its 151st meeting on 7 March at which the Legal Service reported on the ILOAT's judgment concerning an appeal lodged by a beneficiary against the CERN Council's decision to index his pension by 0% for 2005. The Governing Board noted with satisfaction that the appeal had been rejected. The ILOAT recognised that the CERN Council, which had followed the Governing Board's recommendation, had been entitled to take this decision as an 'urgent protective measure' in respect of the Fund's financial position. At the same meeting, the members of the Governing Board expressed their opinions on the report by the consultancy firm Mercer which had been entrusted with the task of comparing the CERN Pension Fund with a sample of similar European funds. It endorsed the CERN Management's opinion that Mercer had not been in a position to make a pertinent comparison between the CERN Pension Fund and other pension funds, and concurred with the conclusions presented by the Management....

  18. Risks and return of banking activities related to hedge funds.

    OpenAIRE

    Mustiers, J P.; Dubois, A.

    2007-01-01

    There are approximately 10,000 hedge funds worldwide, managing assets of over USD 1.5 trillion. Investment banking activities are more and more intertwined with hedge funds, as hedge funds obtain financing from banks through prime brokerage and are clients or counterparties of banks for all sorts of products. The development of hedge funds has therefore created many opportunities for investment banks. Bank benefit from hedge funds activities directly to the extent that hedge funds are their c...

  19. Lifting the veil of secrecy from industry funding of nonprofit health organizations.

    Science.gov (United States)

    Jacobson, Michael F

    2005-01-01

    Those who provide information about scientific issues and science policy normally present themselves as being objective and "scientific." This article describes a range of health charities, professional associations, nonprofit advocacy organizations, and industry-created organizations that receive significant funding from industry. In some cases, industry appears either to influence an organization's positions or to limit an organization's freedom to speak out on matters of interest to the funders. Nonprofit organizations need to consider the potential influence on their independence if they accept funding from interested companies and trade associations.

  20. Capital Investment by Independent and System-Affiliated Hospitals

    Directory of Open Access Journals (Sweden)

    Nathan W. Carroll PhD

    2015-06-01

    Full Text Available Capital expenditures are a critical part of hospitals’ efforts to maintain quality of patient care and financial stability. Over the past 20 years, finding capital to fund these expenditures has become increasingly challenging for hospitals, particularly independent hospitals. Independent hospitals struggling to find ways to fund necessary capital investment are often advised that their best strategy is to join a multi-hospital system. There is scant empirical evidence to support the idea that system membership improves independent hospitals’ ability to make capital expenditures. Using data from the American Hospital Association and Medicare Cost Reports, we use difference-in-difference methods to examine changes in capital expenditures for independent hospitals that joined multi-hospital systems between 1997 and 2008. We find that in the first 5 years after acquisition, capital expenditures increase by an average of almost $16 000 per bed annually, as compared with non-acquired hospitals. In later years, the difference in capital expenditure is smaller and not statistically significant. Our results do not suggest that increases in capital expenditures vary by asset age or the size of the acquiring system.

  1. Capital Investment by Independent and System-Affiliated Hospitals.

    Science.gov (United States)

    Carroll, Nathan W; Smith, Dean G; Wheeler, John R C

    2015-01-01

    Capital expenditures are a critical part of hospitals' efforts to maintain quality of patient care and financial stability. Over the past 20 years, finding capital to fund these expenditures has become increasingly challenging for hospitals, particularly independent hospitals. Independent hospitals struggling to find ways to fund necessary capital investment are often advised that their best strategy is to join a multi-hospital system. There is scant empirical evidence to support the idea that system membership improves independent hospitals' ability to make capital expenditures. Using data from the American Hospital Association and Medicare Cost Reports, we use difference-in-difference methods to examine changes in capital expenditures for independent hospitals that joined multi-hospital systems between 1997 and 2008. We find that in the first 5 years after acquisition, capital expenditures increase by an average of almost $16,000 per bed annually, as compared with non-acquired hospitals. In later years, the difference in capital expenditure is smaller and not statistically significant. Our results do not suggest that increases in capital expenditures vary by asset age or the size of the acquiring system.

  2. NSF Funding Rate History By State and Organization

    Data.gov (United States)

    National Science Foundation — Contains FY 2006-FY 2015 National Science Foundation (NSF) funding rates for competitive research proposals by organizational unit. The funding rate is calculated by...

  3. 34 CFR 366.30 - What are earmarked funds?

    Science.gov (United States)

    2010-07-01

    ... purchase personal assistance services or particular types of skills training; (3) State attendant care funds; or (4) Social Security Administration reimbursement funds. (b) For purposes of this subpart...

  4. Independent technical review of the Mound Plant

    Energy Technology Data Exchange (ETDEWEB)

    1994-06-01

    This report documents an Independent Technical Review (ITR) of the facilities, organizations, plans, and activities required to transition particular elements of the Mound Plant from Defense Program (DP) funded operation as appropriate either to community developed reuse or safe deactivation leading to decontamination and decommissioning (D&D). The review was conducted at the request of the Dr. Willis Bixby, Deputy Assistant Secretary, U.S. Department of Energy EM-60, Office of Facility Transition and Management and is a consensus of the nine member ITR Team. Information for the review was drawn from documents provided to the ITR Team by the Miamisburg Area Office (MB) of the DOE, EG&G, the City of Miamisburg, and others; and from presentations, discussions, interviews, and facility inspections at the Mound Plant during the weeks of March 14 and March 28, 1994. During the week of April 25, 1994, the ITR Team met at Los Alamos, New Mexico to develop consensus recommendations. A presentation of the core recommendations was made at the Mound Plant on May 5, 1994. This is an independent assessment of information available to, and used by, the Mound Plant personnel. Repetition of the information is not meant to imply discovery by the ITR Team. Team members, however, acting as independent reviewers, frequently assess the information from a perspective that differs significantly from that of the Mound Plant personnel. The report is based on information obtained and conditions observed during the March 1994 review interval. The ITR process and normal site work often initiate rapid, beneficial changes in understanding and organization immediately following the review. These changes frequently alter conditions observed during the review, but the report does not address changes subsequent to the review interval.

  5. 75 FR 5814 - ShariahShares Exchange-Traded Fund Trust, et al.; Notice of Application

    Science.gov (United States)

    2010-02-04

    ...), which include concerns about undue influence by a fund of funds over underlying funds, excessive... Purchasing Funds nor a Purchasing Fund Affiliate would be able to exert undue influence over the Index Funds... for undue influence over the Index Funds, including that no Purchasing Fund or Purchasing Fund...

  6. The Independence of Jane Eyre

    Institute of Scientific and Technical Information of China (English)

    董引娣

    2015-01-01

    <正>Ⅰ.General Review of Jane Eyre’s Independence Jane’s independence also has something to do with dignity.Every time she was teased by her cousin,she would resist rather than keep silent.Even when she stayed with the so-called upperclass people,she behaved without any self-humiliation.Jane’s sufferings that give rise to her independence and unconquerable spirit to stay with Rochester,Jane didn’t feel herself inferior

  7. Nuclear, uranium, reserves, sustainability, independence; Nucleaire, Uranium, reserves, durabilite, independance

    Energy Technology Data Exchange (ETDEWEB)

    Acket, C

    2007-06-15

    In order to evaluate the energy independence concerning the nuclear energy, the author takes the state of the art about the uranium. He details the fuel needs, the reserves on the base of the today available techniques, the reserves on the base of the future techniques and concludes positively on the energy independence for the nuclear. (A.L.B.)

  8. Governing Board of the Pension Fund

    CERN Multimedia

    HR Department

    2007-01-01

    The Governing Board of the Pension Fund held its one-hundred-and-fifty-second and one-hundred-and-fifty-third meetings on 18 April and 15 May 2007 respectively. The latter was a full-day joint meeting with the Investment Committee. At the first of the two meetings on 18 April, the Chairman of the Governing Board, Professor F. Ferrini, reported on the outcome of the Finance Committee meeting and the Council Session of March 2007. The Council had taken note of a progress report by the Chairman of the Study Group on CERN Pension Fund Governance, Mr P. Levaux, had expressed satisfaction at the Study Group's progress and was now looking forward to the proposal, largely bearing on the Pension Fund's bodies and their composition, which is due to be submitted to the Council for approval at its June 2007 Session. At the same meeting, the Governing Board approved the Annual Report and Accounts of the Fund for 2006 and thanked the Fund's Administration for the substantial work entailed in providing the reader with a...

  9. GOVERNING BOARD OF THE PENSION FUND

    CERN Multimedia

    2002-01-01

    The Governing Board met on 9 April and 4 June. The first of these two meetings was essentially devoted to the examination and approval of the draft 2001 Annual Report of the Pension Fund and the allocation of the year's results. In the latter connection, the Governing Board decided, on the basis of the recommendations by the two firms of actuaries involved in the last actuarial review, that the amounts previously referred to in the accounts as "reserves" should be considered as part of the Fund's capital. The description of part of the Fund's assets as reserves as opposed to capital hitherto had been a matter of form rather than anything more fundamental. The Governing Board therefore formally approved this change in the Fund's accounting practices for the sake of consistency between the Accounts of the Fund and the approach adopted by the actuaries in the actuarial review. Among the other items examined during the meeting, the Governing Board approved a new strategic allocation for investments, which essenti...

  10. GOVERNING BOARD OF THE PENSION FUND

    CERN Multimedia

    All members and beneficiaries of the Pension Fund are invited to attend the Annual General Asssembly to be held in the CERN Auditorium on Wednesday 8 October 2003 at 14.30 hrs The Agenda comprises: 1. Opening RemarksJ. Bezemer 2. Annual Report 2002: Presentation and results Copies of the Report are available from divisional secretariats.C. Cuénoud 3. Overview of the present situation with regard to pension funds C. Cuénoud 4. Performance of the Fund since the year 2000 and aspects of the ongoing asset/liability modelling exercise G. Maurin 5. Questions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to Mr C. Cuénoud, Administrator of the Fund. 6. Conclusions J. Bezemer As usual, participants are invited to drinks after the assembly. NB The minutes of the 2002 General Assembly are available from the Administration of the Fund tel.(+4122)767 27 42; e-mail Sophia.Revol@cern.ch) SOME ASPECTS OF THE FU...

  11. Governing Board of the Pension Fund

    CERN Multimedia

    2005-01-01

    The Governing Board of the Pension Fund held its one-hundred-and-thirty-second and one-hundred-and-thirty-third meetings on 16 February and 10 March respectively. The first of these meetings was primarily devoted to the further examination of the proposed measures to reduce the Fund's technical deficit. The Governing Board underlined that it was equally determined to find solutions to the structural problems that had an impact on the Fund's technical deficit. A statement to that effect was to be made by the Chairman of the Governing Board, J. Bezemer, at the March session of the CERN Council. Indeed, it would appear that in the light of the new actuarial parameters, in particular the technical interest rate of 4.5%, it is first necessary to stabilise the current funding ratio of 88%, which will fall to 61% in 30 years' time if no action is taken. In an initial stage, corrective measures must therefore be taken in order to prevent a further fall in the funding ratio. Subsequently, the objective will be to re...

  12. ELECTIONS PENSION FUND CANDIDATE NR 1

    CERN Multimedia

    2001-01-01

    ORGANISATION EUROPEENNE POUR LA RECHERCHE NUCLEAIRE CERN EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH CAISSE DE PENSIONS / PENSION FUND Caisse de Pensions - ELECTIONS - Pension Fund This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate : Name : CHIAVERI First Name : Enrico I have been a CERN staff member since 1973 and have always been interested in our working conditions. As a member of the Executive Committee of the Staff Association I participated from 1980 to 1984 in the Working Group on Pensions mandated by the CERN Council. This commitment led to my becoming a member of the Governing Board of the Pension Fund in 1983, since when I have taken an active part in various commissions and working groups (Real Estate Asset Management Committee, Working Group on Actuarial Matters etc.); in so doing I have gained a thorough knowledge of different areas of the Pension Fund. Since ...

  13. General Meeting of the Pension Fund

    CERN Multimedia

    HR Department

    2008-01-01

    All members and beneficiaries of the Pension Fund are invited to attend the Annual General Meeting to be held in the CERN Main Auditorium on Wednesday 22 October 2008 at 14:15 hrs The Agenda comprises: Opening Remarks (F. Ferrini) Results and presentation of the Annual Report 2007 and impact on the Fund of the recent evolution of financial markets (C. Cuénoud) Copies of the 2007 Report are available from departmental secretariats. Activity report of the new Governance of the Pension Fund (F. Ferrini, D. Duret) Questions from members and beneficiaries People wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to Mr C. Cuénoud, Administrator of the Fund.Conclusions (F. Ferrini) As usual, participants are invited to drinks after the Meeting. NB The minutes of the 2007 General Meeting are available from the Administration of the Fund (tel. (+ 41 22) 767 27 42; e-mail mailto:Barbara.Bordjah@cern.ch)

  14. General Meeting of the Pension Fund

    CERN Document Server

    HR Department

    2008-01-01

    All members and beneficiaries of the Pension Fund are invited to attend the Annual General Meetingto be held in the CERN Main Auditorium on Wednesday 22 October 2008 at 14:00 hrs The Agenda comprises: Opening Remarks (F. Ferrini) Results and presentation of the Annual Report 2007 and impact on the Fund of the recent evolution of financial markets (C. Cuénoud) Copies of the 2007 Report are available from departmental secretariats. Activity report of the new Governance of the Pension Fund (F. Ferrini, D. Duret) Questions from members and beneficiaries People wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to Mr C. Cuénoud, Administrator of the Fund. Conclusions (F. Ferrini). As usual, participants are invited to drinks after the meeting. NB\tThe minutes of the 2007 General Meeting are available from the Administration of the Fund (tel. (+ 41 22) 767 27 42; e-mail Barbara.Bordjah@cern.ch)

  15. GOVERNING BOARD OF THE PENSION FUND

    CERN Multimedia

    2001-01-01

    The Governing Board held its one-hundred-and-first meeting on 5 June, during which it took note of the external auditors' report on the accounts of the Fund for the financial year 2000, and the comments by the Administration of the Fund on the report. It should be noted in this regard that, in the light of a remark by the auditors regarding the procedures followed by the Fund in paying out transfer values, the Governing Board decided to propose to the CERN Council at its December session a change in the wording of Article II 1.13 of the Rules and Regulations so as to bring it into line with the Fund's regular practices. The effect on the Fund of the introduction of the new salary scales was considered and a small working group was commissioned to undertake the necessary technical adjustments. The Governing Board then heard a report by the Chairman of the Investment Committee on its meeting of 3 May 2001. G. Maurin stated that the Committee members had agreed to invite a second consultants' firm to carry out a...

  16. General Meeting Of The Pension Fund

    CERN Multimedia

    HR Department

    2009-01-01

    All members and beneficiaries of the Pension Fund are invited to attend the Annual General Meeting to be held in the CERN Council Chamber on Wednesday 9 September 2009 from 14:00 to 16:30 p.m. The Agenda comprises: 1.\tOpening Remarks - F. Ferrini 2.\tResults and presentation of the Annual Report 2008. - C. Cuénoud Recent evolution of financial markets. 2009-2010 work plan - T. Economou. Copies of the 2008 Report are available from Departmental secretariats. 3.\tReport on funding policy and principles of the Pension Fund: Working Group 2 Report. - F. Ferrini 4.\tQuestions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to the Secretariat of the Pension Fund. 5.\tConclusions - F. Ferrini As usual, participants are invited to drinks after the meeting. NB\tThe minutes of the 2008 General Meeting are available from the Administration of the Fund (tel. + 41 22 767 27 42 ; e-mail mailto:Sevda.Budun-Kocaturk@cern.ch

  17. General meeting of the Pension Fund

    CERN Multimedia

    HR Department

    2009-01-01

    All members and beneficiaries of the Pension Fund are invited to attend the Annual General Meeting to be held in the CERN Council Room on Wednesday 9 September 2009 from 14:00 to 16:30 p.m. The Agenda comprises: 1.\tOpening Remarks - F. Ferrini 2.\tResults and presentation of the Annual Report 2008. - C. Cuénoud Recent evolution of financial markets. 2009-2010 work plan - T. Economou. Copies of the 2008 Report are available from departmental secretariats. 3.\tReport on Funding policy and principles of the Pension Fund: Working Group 2 Report. - F. Ferrini 4.\tQuestions from members or beneficiaries Persons wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to the secretariat of the Pension Fund. 5.\tConclusions - F. Ferrini As usual, participants are invited to drinks after the Meeting. NB\tThe minutes of the 2008 General Meeting are available from the Administration of the Fund (tel. + 41 22 767 27 42 ; e-mail mailto:Sevda.Budun-Kocaturk@cern.ch

  18. General meeting of the Pension Fund

    CERN Multimedia

    HR Department

    2009-01-01

    All members and beneficiaries of the Pension Fund are invited to attend the Annual General Meeting to be held in the CERN Council Room on Wednesday 9 September 2009 from 14:00 to 16:30 p.m. The Agenda comprises: 1.\tOpening Remarks - F. Ferrini 2.\tResults and presentation of the Annual Report 2008. - C. Cuénoud Recent evolution of financial markets. 2009-2010 work plan - T. Economou. Copies of the 2008 Report are available from departmental secretariats. 3.\tReport on Funding policy and principles of the Pension Fund: Working Group 2 Report. - F. Ferrini 4.\tQuestions from members or beneficiaries Persons wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to the secretariat of the Pension Fund. 5.\tConclusions - F. Ferrini As usual, participants are invited to drinks after the Meeting. NB\tThe minutes of the 2008 General Meeting are available from the Administration of the Fund (tel. + 41 22 767 27 42 ; e-mail mailto:Sevda.Budun-Kocaturk@cern.ch)

  19. Governing Board of the Pension Fund

    CERN Multimedia

    2005-01-01

    The Governing Board of the Pension Fund held its one-hundred-and-thirty-second and one-hundred-and-thirty-third meetings on 16 February and 10 March respectively. The first of these meetings was primarily devoted to the further examination of the proposed measures to reduce the Fund's technical deficit. The Governing Board underlined that it was equally determined to find solutions to the structural problems that had an impact on the Fund's technical deficit. A statement to that effect was to be made by the Chairman of the Governing Board, J. Bezemer, at the March session of the CERN Council. Indeed, it would appear that in the light of the new actuarial parameters, in particular the technical interest rate of 4.5%, it is first necessary to stabilise the current funding ratio of 88%, which will fall to 61% in 30 years' time if no action is taken. In an initial stage, corrective measures must therefore be taken in order to prevent a further fall in the funding ratio. Subsequently, the objective will be to re...

  20. Governing Board of the Pension Fund

    CERN Multimedia

    2007-01-01

    The Governing Board of the Pension Fund held its one hundred and fifty seventh meeting on 5 September 2007. Among the items on its agenda was a report by the Chairwoman of the Working Group on Actuarial Matters, D. Duret, on the two meetings the Group had held during the summer, on 24 July and 31 August respectively, to discuss the latest three-yearly actuarial review. She noted that the actuarial review took account of the following elements for the first time: the amendments to the Rules of the Fund approved at the end of 2006, according to which, as long as the funding ratio of the Fund is less than 100% in 2033, only part of the pension adjustment assumption of the reference model is taken into consideration, on the understanding that the accumulated loss of purchasing power incurred by a beneficiary or any dependents in the event of his death must not exceed 8%; a new method for assessing the active membership of the Fund, which makes a distinction between personnel ho...

  1. Governing Board of the Pension Fund

    CERN Multimedia

    2007-01-01

    The Governing Board of the Pension Fund held its one hundred and fifty seventh meeting on 5 September 2007. Among the items on its agenda was a report by the Chairwoman of the Working Group on Actuarial Matters, D. Duret, on the two meetings the Group had held during the summer, on 24 July and 31 August respectively, to discuss the latest three-yearly actuarial review. She noted that the actuarial review took account of the following elements for the first time: -\tthe amendments to the Rules of the Fund approved at the end of 2006, according to which, as long as the funding ratio of the Fund is less than 100% in 2033, only part of the pension adjustment assumption of the reference model is taken into consideration, on the understanding that the accumulated loss of purchasing power incurred by a beneficiary or any dependents in the event of his death must not exceed 8%; -\ta new method for assessing the active membership of the Fund, which makes a distinction between personnel holding a fixed-term contract, pe...

  2. Governing Board of the Pension Fund

    CERN Multimedia

    2006-01-01

    The Governing Board of the Pension Fund held its 142nd meeting on 14 March 2006. As an introduction to the meeting, the Administrator underlined that, at 12.4%, the performance achieved by the Fund on its assets had been excellent and had taken the Fund's assets at the end of the year to 4,209 MCHF, which was well above the 4 billion Swiss franc mark. The Chairman of the Governing Board, Professor Ferrini, reported on the Board's closed session on 7 March to examine the nominations received for the election of the Vice-Chairmen of the Governing Board of the Pension Fund. The Governing Board had unanimously agreed to recommend the CERN Council to appoint Mr A. J. Naudi and Dr J.-P. Matheys. At its session on 16 March 2006, the Council had followed the recommendation of the Governing Board by re-appointing J.-P. Matheys and A. J. Naudi Vice-Chairmen of the Board until the end of their respective terms of office as members of the Governing Board. Regarding the comparison with other European pension funds launc...

  3. The ethics of pharmaceutical research funding: a social organization approach.

    Science.gov (United States)

    Gray, Garry C

    2013-01-01

    This paper advances a social organization approach to examining unethical behavior. While unethical behaviors may stem in part from failures in individual morality or psychological blind spots, they are both generated and performed through social interactions among individuals and groups. To illustrate the value of a social organization approach, a case study of a medical school professor's first experience with pharmaceutical-company-sponsored research is provided in order to examine how funding arrangements can constrain research integrity. The case illustrates three significant ways that institutional corruption can occur in the research process. First, conflicts of norms between pharmaceutical companies, universities, and affiliated teaching hospitals can result in compromises and self-censorship. Second, normal behavior is shaped through routine interactions. Unethical behaviors can be (or can become) normal behaviors when they are produced and reproduced through a network of social interactions. Third, funding arrangements can create networks of dependency that structurally distort the independence of the academic researcher in favor of the funder's interests. More broadly, the case study demonstrates how the social organization approach deepens our understanding of the practice of ethics.

  4. In which Financial Markets do Mutual Fund Theorems hold true?

    CERN Document Server

    Schachermayer, Walter; Taflin, Erik

    2007-01-01

    The Mutual Fund Theorem (MFT) is considered in a general semimartingale financial market S with a finite time horizon T, where agents maximize expected utility of terminal wealth. It is established that: 1) Let N be the wealth process of the num\\'eraire portfolio (i.e. the optimal portfolio for the log utility). If any path-independent option with maturity T written on the num\\'eraire portfolio can be replicated by trading \\emph{only} in N, then the (MFT) holds true for general utility functions, and the num\\'eraire portfolio may serve as mutual fund. This generalizes Merton's classical result on Black-Scholes markets. Conversely, under a supplementary weak completeness assumption, we show that the validity of the (MFT) for general utility functions implies the same replicability property for options on the num\\'eraire portfolio described above. 2) If for a given class of utility functions (i.e. investors) the (MFT) holds true in all complete Brownian financial markets S, then all investors use the same utili...

  5. Television production, Funding Models and Exploitation of Content

    Directory of Open Access Journals (Sweden)

    Gillian Doyle

    2016-07-01

    Full Text Available The rise of digital platforms has transformative implications for strategies of financing media production and for exploitation of the economic value in creative content. In the television industry, changes in technologies for distribution and the emergence of SVOD services such as Netflix are gradually shifting audiences and financial power away from broadcasters while at the same time creating unprecedented opportunities for programme-makers.  Drawing on findings from recent RCUK-funded research, this article examines how these shifts are affecting production financing and the economics of supplying television content.  In particular, it focuses on how changes in the dynamics of rights markets and in strategic approaches towards the financing of television production might mean for markets, industries and for policies intended to support the economic sustainability of independent television content production businesses.

  6. The Analysis of Mutual Fund Performance: Evidence from U.S. Equity Mutual Funds

    NARCIS (Netherlands)

    D.P. Budiono (Diana)

    2010-01-01

    textabstractWe study the mutual fund performance for about 45 years. There are several key points that we can withdraw from this dissertation. First, to study the persistence of mutual fund performance, it is important to consider time-varying exposures because when they are ignored, the persistence

  7. Harvard University: Green Loan Fund. Green Revolving Funds in Action: Case Study Series

    Science.gov (United States)

    Foley, Robert

    2011-01-01

    The Green Loan Fund at Harvard University has been an active source of capital for energy efficiency and waste reduction projects for almost a decade. This case study examines the revolving fund's history from its inception as a pilot project in the 1990s to its regeneration in the early 2000s to its current operations today. The green revolving…

  8. 78 FR 21035 - Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations; Accounting and...

    Science.gov (United States)

    2013-04-09

    ... 12 CFR Parts 615, 621, and 652 RIN 3052-AC75 Funding and Fiscal Affairs, Loan Policies and Operations... Corporation Funding and Fiscal Affairs; GAAP References and Other Conforming Amendments AGENCY: Farm Credit... the effective date in the Federal Register. FOR FURTHER INFORMATION CONTACT: Michael T. Wilson, Policy...

  9. 77 FR 75362 - Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations

    Science.gov (United States)

    2012-12-20

    ... From the Federal Register Online via the Government Publishing Office FARM CREDIT ADMINISTRATION 12 CFR Part 615 Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations CFR Correction 0 In Title 12 of the Code of Federal Regulations, Parts 600 to 899, revised as of January 1, 2012...

  10. 75 FR 68533 - Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations; Capital...

    Science.gov (United States)

    2010-11-08

    ... 12 CFR Part 615 RIN 3052-AC25 Funding and Fiscal Affairs, Loan Policies and Operations, and Funding..., Office of Regulatory Policy, Farm Credit Administration, 1501 Farm Credit Drive, McLean, VA 22102-5090... Internet spam. FOR FURTHER INFORMATION CONTACT: Laurie Rea, Associate Director, Office of Regulatory Policy...

  11. 78 FR 34550 - Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations; Accounting and...

    Science.gov (United States)

    2013-06-10

    ... 12 CFR Parts 615, 621, and 652 RIN 3052-AC75 Funding and Fiscal Affairs, Loan Policies and Operations... Corporation Funding and Fiscal Affairs; GAAP References and Other Conforming Amendments; Effective Date AGENCY.... Wilson, Policy Analyst, Office of Regulatory Policy, Farm Credit Administration, McLean, VA 22102-5090...

  12. Business Management for Independent Schools. Third Edition.

    Science.gov (United States)

    National Association of Independent Schools, Boston, MA.

    This business management manual discusses school accounting and reporting principles; in particular, financial management, computerization, and records retention techniques. First is described the basic accounting principles, plant funds, endowment funds, operational funds, chart of accounts, and financial states of the school's annual financial…

  13. CORRUPTION - AN INHIBITING FACTOR FOR THE EFFICIENT IMPLEMENTATION OF STRUCTURAL FUNDS IN ROMANIA

    Directory of Open Access Journals (Sweden)

    Andrei Sebastian Badea

    2012-06-01

    Full Text Available The aim of this paper is to give an insight into the link between corruption and the implementation of structural and cohesion funds in Romania and the other Central and Eastern European states (CEE. Although there is a great interest within the mass-media and the civil society for this topic, very few in-depth analyses have been carried out on this subject by independent researchers. This article starts with an evaluation on the various indicators and indexes that quantify corruption, continuing with a comparison at a regional level. Afterwards, the analysis continues with a brief assessment on the implementation of structural funds in Romania and the other CEE states. What we have found by analysing the corruption indices and absorption rates for 7 European Union member states is that there is a strong link between the two phenomena: states with high levels of corruption benefit less from structural and cohesion funds having lower absorption rates.

  14. The Rules of an Occupational Retirement Fund and the Problem of Defaulting Employers: A Reconsideration of Orion Money Purchase Pension Fund (SA v Pension Funds Adjudicator

    Directory of Open Access Journals (Sweden)

    Thulani Nkosi

    2016-12-01

    Full Text Available This paper reflects on the ongoing challenges presented by certain employers who, whilst deducting occupational retirement fund contributions from their employees' salaries, fail to pay over those contributions to the relevant occupational retirement funds. These employers also often fail to register themselves or their employees as participating members of occupational retirement funds when they are supposed to. Such failures to register with the relevant occupational retirement funds and to pay over fund contributions have disastrous effects on the employees who are at the receiving end of these unlawful practices. This is the case because employees lose the value and use of their salaries through the deductions, and also the benefits of their occupational retirement funds. Although the Pension Funds Act 24 of 1956 is sufficiently responsive and provides adequate mechanisms to guide against this scourge, it is this paper's argument that occupational retirement funds themselves have not done their bit in enforcing the Pension Funds Act. The failure on the part of the funds to enforce the Pension Funds Act by ensuring that fund contributions are collected from participating employers has resulted in, and continues to result in, untold losses on the part of the employees. Properly considered, the paper submits that the failure by occupational retirement funds to enforce the Pension Funds Act has the potential of unjustifiably limiting several of the employee members' constitutional rights. It is not good enough, so argues the paper, for occupational retirement funds to have rules that prohibit them from paying retirement fund benefits where no contributions have been received. It is also not good enough for courts and the office of the PFA to blindly enforce the rules of occupational retirement funds without consistently subjecting them to the Pension Funds Act and the Constitution for validity and legality. It is on this basis that the case of

  15. A dedicated fund supports technological innovation

    CERN Multimedia

    Katarina Anthony

    2010-01-01

    The Knowledge and Technology Transfer (KTT) Group is calling on CERN Departments to take their technology out of the confines of the laboratory and make it ready for dissemination. For the first time, projects can apply for financial support from the newly established KTT Fund.   Scientific inquiry can lead to unexpected developments for society when researchers apply their expertise for public use. CERN actively encourages this transfer of knowledge and technology and, for the first time, has created a dedicated fund to provide financial support to projects aiming at disseminating their technologies to external audiences. CERN’s technology transfer schemes were formalised in the recent Policy on the Management of Intellectual Property in Technology Transfer, approved in March. Revenues generated by commercial exploitation will be distributed between the members of the team that developed the technology, their Department, and the KTT Fund for reinvestment in further KTT projects. &qu...

  16. The Pension Fund passes important milestones

    CERN Multimedia

    2012-01-01

    In this column, the Chairman of the Pension Fund Governing Board (PFGB) presents the Board's latest main decisions, initiatives and accomplishments to the Fund's members and beneficiaries.   Since my last report in October, the PFGB has passed several milestones in actuarial, technical and investment matters. The PFGB has completed an analysis of a request by the European Organisation for Astronomical Research in the Southern Hemisphere (ESO) to reduce the increased cost of pension insurance for new ESO recruits that has been caused by the increased CHF/€ exchange ratio. Currently the staff of ESO are admitted to the CERN Pension Fund, pursuant to a co-operation agreement between CERN and ESO dating back to 1968. This analysis assessed the actuarial, financial, administrative and legal implications, and is scheduled to be presented to the CERN Council and the Finance Committee in December. After an open tendering process the PFGB has selected Buck Consultants Limited...

  17. Meeting of the Pension Fund Governing Board

    CERN Document Server

    HR Department

    2009-01-01

    Reminder Given the current state of the financial markets and the continuing uncertainty as to their future evolution, we begin by reiterating the introductory statement of the last report from the Pension Fund: "The CERN pension scheme is based on the principle of defined benefits, so beneficiaries continue to receive the benefits to which they are entitled in accordance with the Rules of the Pension Fund. This means that pension entitlements under the Rules are not directly affected by the financial crisis and the current economic situation. However, the adjustment of pensions to the cost of living is not automatic and, under the method applied since 2006, must take into account the Fund’s financial position." Meeting of the Pension Fund Governing Board (PFGB) The PFGB held its ninth and tenth meetings on 1st December 2008 and 11 February 2009 respectively. At the ninth meeting, the Governing Board bade farewell to P. Lambert, who had been an expert member since November...

  18. Accessing International Funding for Climate Change Adaptation

    DEFF Research Database (Denmark)

    Christiansen, Lars; Ray, Aaron D.; Smith, Joel B.

    The primary aim of this guidebook is to provide countries participating in the Technology Needs Assessment (TNA) Project with practical guidance that will help them secure financing for adaptation technology transfer project profiles identified in their Technology Action Plans (TAPs). The TNA...... of international public funding sources dedicated to adaptation investments (Chapter 3) • Seven fundamental eligibility criteria for accessing international public funding and guidance on how to apply these concepts to project ideas (Chapter 3) • A template (built on the abovementioned seven fundamental...... eligibility criteria) for developing/ presenting adaptation project ideas to international donors. Using this format when communicating project ideas to international donors and agencies is likely to facilitate greater interest and increase the chances of successfully accessing available funding (Chapter 3...

  19. The Funding of Public Service Media

    DEFF Research Database (Denmark)

    Lowe, Gregory F.; Berg, Christian E.

    2013-01-01

    the complexion of media systems in the 21st century as a consequence of greater instability and higher uncertainty. A model describes 4 modes of funding for media and assesses operational implications for each. This work elaborates on earlier research questioning the premise that big, rich countries are suitable...... funding public broadcasting is not only about funding; it is about wider issues only partly rooted in the current economic malaise. An underlying dynamic is keyed to the digitalization of the media system at large, co-related with growing complexity in media competition, fuelling debate over......, for consideration of implications in how media are understood and organized and the purposes for which media are mandated...

  20. Extramural Research Grants and Scientists’ Funding Strategies

    DEFF Research Database (Denmark)

    Grimpe, Christoph

    2012-01-01

    Although competitive funding of public research has been characterised as providing output incentives that raise efficiency and productivity, we know very little about whether the quality of a scientist’s research is in fact the primary award criterion on which funding bodies base their grant......), government, foundation, and industry grants. Based on a sample of more than 800 scientists at universities and public research institutes in Germany, the results indicate that scientist productivity measured in terms of publication and patent stock is a statistically significant determinant only...... and innovation policy about potential discrepancies between policy rhetoric, stipulated award criteria, and actual funding outcomes which makes it possible to fine-tune the debate on how public research should be financed....

  1. ELECTIONS PENSION FUND CANDIDATE NR 4

    CERN Document Server

    2001-01-01

    ORGANISATION EUROPEENNE POUR LA RECHERCHE NUCLEAIRE CERN EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH CAISSE DE PENSIONS / PENSION FUND Caisse de Pensions - ELECTIONS - Pension Fund This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate : Name : MYERS First Name : Stephen I have been at CERN since 1972, and was elected member of the Governing Board for the first time in 1998. The Governing Board then nominated me to the Investments Committee where I have been a member since the beginning of 1999. Since then I have actively participated in redefining and transforming the investment portfolio in order to improve the overall return and where possible reduce the risk. The portfolio has recently been greatly improved and now allows much simpler more transparent monitoring of our investment. I have also actively participated and hopefully made useful contributions in discussions conc...

  2. ELECTIONS PENSION FUND 4th candidate

    CERN Multimedia

    2001-01-01

    ORGANISATION EUROPEENNE POUR LA RECHERCHE NUCLEAIRE CERN EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH CAISSE DE PENSIONS / PENSION FUND Caisse de Pensions - ELECTIONS - Pension Fund This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate : Name : MYERS First Name : Stephen I have been at CERN since 1972, and was elected member of the Governing Board for the first time in 1998. The Governing Board then nominated me to the Investments Committee where I have been a member since the beginning of 1999. Since then I have actively participated in redefining and transforming the investment portfolio in order to improve the overall return and where possible reduce the risk. The portfolio has recently been greatly improved and now allows much simpler more transparent monitoring of our investment. I have also actively participated and hopefully made useful contributions in discussions conc...

  3. A New Source of Nonprofit Neurosurgical Funding.

    Science.gov (United States)

    Fernando, Amali M; Nicholas, Joyce S; O'Brien, Peter; Shabani, Hamisi; Janabi, Mohamed; Kisenge, Peter; Ellegala, Dilantha B; Bass, R Daniel

    2017-02-01

    The purpose of this paper is to propose and qualify a novel funding mechanism for international neurosurgical nonprofits. The article first identifies and explains neurosurgeons' means for practicing in the developing world through a literature review. After this examination of the current funding methods for surgical care in low-income regions, the work transitions to an explanation of the applications and limitations of a new resource: the internal wealth of a developing country. This wealth may be leveraged by way of a for-profit hospital to create sustainable and domestic funding for nonprofit neurosurgical training. The applicability of the proposed mechanism extends beyond the field of neurosurgery to nonprofits in any health-related discipline. Factors influencing the viability of this mechanism (including local disease burden, economic trajectory, and political stability) are examined to create a baseline set of conditions for success.

  4. Governing Board of the Pension Fund

    CERN Multimedia

    2004-01-01

    All members and beneficiaries of the Pension Fund are invited to attend the Annual General Asssembly to be held in the CERN Auditorium on Wednesday 6 October 2004 at 14.30 hrs The Agenda comprises: Opening Remarks (J. Bezemer) Results and presentation of the Annual Report 2003, and global situation of provident institutions (C. Cuénoud) Copies of the 2003 Report are available from departmental secretariats. The 2004 Actuarial Study (J.-P. Matheys) Questions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to Mr C. Cuénoud, Administrator of the Fund. Conclusions (J. Bezemer) As usual, participants are invited to drinks after the assembly. NB The minutes of the 2003 General Assembly are available from the Administration of the Fund (tel.(+4122)767 27 42; e-mail Sophia.Revol@cern.ch) The English version will be published next week.

  5. Annual General Meeting of the Pension Fund

    CERN Multimedia

    2006-01-01

    Annual General Meeting to be held in the CERN Main Auditorium on Wednesday 1st November 2006 at 2.00 p.m. The Agenda will be as follows: Opening Remarks - F. Ferrini Results and presentation of the 2005 Annual Report- Future challenges associated with asset-liability modelling and asset allocation Copies of the 2005 Annual Report are available from departmental secretariats. - C. Cuénoud Recent development of the actuarial position of the Pension Fund - J.-P. Matheys Questions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them in writing in advance, where possible, and addressed to the Fund Administrator Mr C. Cuénoud. Conclusions - F. Ferrini As usual, participants are invited to drinks after the meeting. NB The minutes of the 2005 AGM are available from the Administration of the Fund: Tel: (+4122) 767 27 42 e-mail: Sophia.Revol@cern.ch)

  6. Annual General Meeting of the Pension Fund

    CERN Multimedia

    2006-01-01

    Annual General Meeting to be held in the CERN Main Auditorium on Wednesday 1st November 2006 at 2.00 p.m. The Agenda will be as follows: Opening Remarks - F. Ferrini Results and presentation of the 2005 Annual Report- Future challenges associated with asset-liability modelling and asset allocation Copies of the 2005 Annual Report are available from departmental secretariats. - C. Cuénoud Recent development of the actuarial position of the Pension Fund - J.-P. Matheys Questions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them in writing in advance, where possible, addressed to the Fund's Administrator, Mr C. Cuénoud. Conclusions - F. Ferrini As usual, participants are invited to drinks after the meeting. NB The minutes of the 2005 AGM are available from the Administration of the Fund: Tel: (+4122) 767 27 42 e-mail: Sophia.Revol@cern.ch)

  7. 20 CFR 627.405 - Grant agreement and funding.

    Science.gov (United States)

    2010-04-01

    ... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Grant agreement and funding. 627.405 Section... agreement and funding. (a)(1) Pursuant to § 627.200 of this part and the Governor/Secretary agreement, each...) Funding. The Secretary shall allot funds to the States in accordance with sections 162, 202, 252, 262,...

  8. 48 CFR 3452.232-71 - Incremental funding.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 7 2010-10-01 2010-10-01 false Incremental funding. 3452... 3452.232-71 Incremental funding. As prescribed in 3452.771, insert the following provision in solicitations: Incremental Funding (AUG 1987) (a) Sufficient funds are not presently available to cover...

  9. 40 CFR 35.135 - Activities eligible for funding.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Activities eligible for funding. 35.135... Activities eligible for funding. (a) A recipient may use a Performance Partnership Grant, subject to the requirements of paragraph (c) of this section, to fund any activity that is eligible for funding under at...

  10. 76 FR 62475 - Global X Funds, et al.

    Science.gov (United States)

    2011-10-07

    ... in sections 12(d)(1)(A) and (B), which include concerns about undue influence by a fund of funds over... Subadvisory Group''). Applicants propose other conditions to limit the potential for undue influence over the... believe that neither the Investing Funds nor an Investing Fund Affiliate would be able to exert undue...

  11. 78 FR 34413 - KP Funds, et al.; Notice of Application

    Science.gov (United States)

    2013-06-07

    ... result in the exercise of undue influence by the Fund of Funds or a Fund of Funds Affiliate over the... ``Subadvisory Group''). Applicants propose other conditions to limit the potential for undue influence over the... the policy concerns underlying sections 12(d)(1)(A) and (B), which include concerns about undue...

  12. Is School Funding Fair? A National Report Card

    Science.gov (United States)

    Baker, Bruce D.; Sciarra, David G.; Farrie, Danielle

    2010-01-01

    Building a more accurate, reliable and consistent method of analyzing how states fund public education starts with a critical question: What is fair school funding? In this report, "fair" school funding is defined as a state finance system that ensures equal educational opportunity by providing a sufficient level of funding distributed…

  13. 24 CFR 92.500 - The HOME Investment Trust Fund.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 1 2010-04-01 2010-04-01 false The HOME Investment Trust Fund. 92... Investment Trust Fund. (a) General. A HOME Investment Trust Fund consists of the accounts described in this... Investment Trust Fund United States Treasury account for each participating jurisdiction. Each...

  14. 26 CFR 701.9006-1 - Presidential Election Campaign Fund.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 20 2010-04-01 2010-04-01 false Presidential Election Campaign Fund. 701.9006-1...) INTERNAL REVENUE PRACTICE PRESIDENTIAL ELECTION CAMPAIGN FUND § 701.9006-1 Presidential Election Campaign Fund. (a) Transfer of amounts to the Presidential Election Campaign Fund. The Secretary shall...

  15. 75 FR 47063 - Mutual Fund Distribution Fees; Confirmations

    Science.gov (United States)

    2010-08-04

    ... ``excessive sales, promotion expenses, and so forth.''). \\27\\ When a fund pays promotional costs, the fund's... assets to pay for the cost of promoting sales of fund shares. The new rule and amendments would continue... of funds to provide investors with alternatives for paying sales charges (e.g., at the time...

  16. ROMANIAN ADMINISTRATIVE CAPACITY OF EUROPEAN FUNDS ABSOBTION

    Directory of Open Access Journals (Sweden)

    Irina Bosie (Ungureanu

    2011-12-01

    Full Text Available The capacity to absorb European funds is part of a state complex integrated admninistrative capacity, a component of a state as a whole. The analysis in this article starts from the theoretical development by studying the reports made by the Romanian Government, correlated with the European Union reports on funds and Romanian legislation. This analysis of the EU's structural funds, highlights the importance of accessing them and the degree to which Romania and member countries benefits of income support.European funds are meant to supplement a member of the Union funds to the extent that they are accessed through the projects. Money allocated on type of operation is distributed in amounts proportionate to that state needs. Money distributed will be justified by their realization of infrastructure projects, environment, transport, human resources development, rural and regional development.Theoretical research lay the foundation for determining administrative capacity in Romania from the first time of defining the concept until now. Empirical research reveals the degree of absorption of which is that Romania has in comparison with some EU countries, former socialist countries present democratic states.The absorption capacity of European funds determine the strength of a state administrative management issues in the management of monetary dated. Power in handling management administrative problems can be efficient in higher manner and it’s represented by cost-benefit analysis and the degree of satisfaction of citizen interest. As public services are financially supported and developed, the degree of citizen satisfaction is greater in an implemented decentralized administrative system.

  17. Marketing Handbook for Independent Schools.

    Science.gov (United States)

    Boarding Schools, Boston, MA.

    This publication is a resource to help independent schools attract more familites to their institutions and to increase the voluntary support by the larger community surrounding the school. The first chapter attempts to dispel misconceptions, define pertinent marketing terms, and relate their importance to independent schools. The rest of the book…

  18. Central bank independence and ageing

    OpenAIRE

    Farvaque, Etienne; Héricourt, Jérôme; Lagadec, Gaël

    2008-01-01

    We contrast the influence of demography and central bank independence on inflation. The recent demographic trends in developed countries are shown to weight more on inflation than central bank independence, while the contrary stands for the period from 1960 to 1979.

  19. Exploratory Research and Development Fund, FY 1990

    Energy Technology Data Exchange (ETDEWEB)

    1992-05-01

    The Lawrence Berkeley Laboratory Exploratory R D Fund FY 1990 report is compiled from annual reports submitted by principal investigators following the close of the fiscal year. This report describes the projects supported and summarizes their accomplishments. It constitutes a part of an Exploratory R D Fund (ERF) planning and documentation process that includes an annual planning cycle, projection selection, implementation, and review. The research areas covered in this report are: Accelerator and fusion research; applied science; cell and molecular biology; chemical biodynamics; chemical sciences; earth sciences; engineering; information and computing sciences; materials sciences; nuclear science; physics and research medicine and radiation biophysics.

  20. Time-Varying Fund Manager Skill

    OpenAIRE

    2011-01-01

    How to evaluate a fund manager’s skill is a central question in empirical finance. Prior literature has defined skill as an ability to either pick stocks or time the market, at all times. We propose a new definition of skill as a general cognitive ability used in different ways at different times. We find evidence for stock picking in booms and for market timing in recessions. Moreover, the same fund managers that pick stocks well in expansions also time the market well in recessions. These f...

  1. Ranking mutual funds using Sortino method

    Directory of Open Access Journals (Sweden)

    Khosro Faghani Makrani

    2014-04-01

    Full Text Available One of the primary concerns on most business activities is to determine an efficient method for ranking mutual funds. This paper performs an empirical investigation to rank 42 mutual funds listed on Tehran Stock Exchange using Sortino method over the period 2011-2012. The results of survey have been compared with market return and the results have confirmed that there were some positive and meaningful relationships between Sortino return and market return. In addition, there were some positive and meaningful relationship between two Sortino methods.

  2. Risk and Return in Hedge Funds and Funds-of-Hedge Funds: A Cross-Sectional Approach

    Directory of Open Access Journals (Sweden)

    Hee Soo Lee

    2012-09-01

    Full Text Available The objective of this study is to examine whether the available data on individual hedge funds (HFs and funds-of-hedge funds (FOHFs can reveal the risk-return trade-off and, if so, to find an appropriate risk measure that captures the cross-sectional variation in HF and FOHF returns and compare the risk-return relationship in HFs and FOHFs. Using the “live funds” and the “dead funds” datasets provided by Hedge Fund Research Inc. (HFR, we concentrate on alternative risk measures such as semi-deviation, VaR, expected shortfall and tail risk and compare them with standard deviation in terms of their ability to describe the cross-sectional variation in expected returns of HFs and FOHFs. Firstly, the risk measures are analysed at the portfolio level of HFs and FOHFs by adopting the Fama and French (1992 approach. Secondly, the various estimated risk measures are compared at the individual HF and FOHF levels by using univariate and multivariate cross-sectional regressions. The results show that the available data on HFs and FOHFs exhibits different risk-return trade-offs. The Cornish-Fisher expected shortfall or Cornish-Fisher tail risk could be an appropriate risk measure for HF return. Although appropriate alternative risk measures for the HFs are found, it is difficult to determine the risk measures that best capture the cross-sectional variation in FOHF returns.

  3. 45 CFR 264.80 - If a Territory receives Matching Grant funds, what funds must it expend?

    Science.gov (United States)

    2010-10-01

    ... 45 Public Welfare 2 2010-10-01 2010-10-01 false If a Territory receives Matching Grant funds, what... Levels of the Territories? § 264.80 If a Territory receives Matching Grant funds, what funds must it expend? (a) If a Territory receives Matching Grant funds under section 1108(b) of the Act, it must:...

  4. [Applications and approved projectsof general program, young scientist fund and fund for less developedregion of national natural science funds in discipline of Chinese materia medica, NSFC in 2012].

    Science.gov (United States)

    Huang, Ming-Qing; Han, Li-Wei; Wu, Xiu-Hong; Bi, Ming-Gang; Shang, Hong-Cai; Liu, Yun-Fang; He, Wei-Ming; Li, Dan-Dan; Dong, Yan; Wang, Chang-En

    2013-01-01

    The applications accepted and approved by general program, young scientist fund and fund for less developed region of national natural science funds in the discipline of Chinese materia medica, NSFC in 2012 have been introduced. The research contents of the funded projects in the popular research areas have been summarized and the problems in the applications have been analyzed to give a reference to the scientists in the field of Chinese materia medica.

  5. Charter School Funding: Inequity in the City

    Science.gov (United States)

    Wolf, Patrick J.; Maloney, Larry D.; May, Jay F.; DeAngelis, Corey A.

    2017-01-01

    Public charter schools increasingly are part of both the national conversation about education policy and the local urban scene in America. Previous studies of public charter schools have examined their achievement effects focused on both the state and metropolitan levels, and funding disparities focused on the state levels. This is the first…

  6. Explaining the Allocation of Regional Structural Funds

    DEFF Research Database (Denmark)

    Charron, Nicholas

    2016-01-01

    What regional factors can explain the heterogeneity in Structural Funds distribution to European Union regions? Past studies have shown that aside from the level of economic development and rates of unemployment, other political, and economic factors systematically explain why certain European...

  7. Federal Research and Development Funding: FY2010

    Science.gov (United States)

    2009-11-23

    efficiency; $98 million more for building energy efficiency , including $35 million for a new innovation hub on energy efficient building systems; and...of $61 million for solar energy, $27 million for building energy efficiency , and $69 million for program direction and support; and no funding for

  8. Double Your Pleasure, Double Your Funds.

    Science.gov (United States)

    McCall, Miles; Sitton, Bob

    1999-01-01

    Discusses a variety of fun activities that college and universities can develop as alumni fund-raising events: a golf tournament; scholarship auctions (silent, on-the-spot, live televised, and live); charitable raffles; duck dashes; themed banquets; and a tuition raffle. (MSE)

  9. 75 FR 16579 - Electronic Fund Transfers

    Science.gov (United States)

    2010-04-01

    ... From the Federal Register Online via the Government Publishing Office ] Part II Federal Reserve System 12 CFR Part 205 Electronic Fund Transfers; Final Rule #0;#0;Federal Register / Vol. 75 , No. 62... Consumers from Hidden Gift Card Fees Secretly Draining Shoppers' Pockets'', Press Release, Mar. 27,...

  10. Governing Board of the Pension Fund

    CERN Multimedia

    2004-01-01

    All members and beneficiaries of the Pension Fund are invited to attend the Annual General Asssembly to be held in the CERN Auditorium on Wednesday 6 October 2004 at 14.30 hrs The Agenda comprises: Opening Remarks (J. Bezemer) Results and presentation of the Annual Report 2003, and global situation of provident institutions (C. Cuénoud) Copies of the 2003 Report are available from departmental secretariats. The 2004 Actuarial Study (J.-P. Matheys) Questions from members and beneficiaries Persons wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to Mr C. Cuénoud, Administrator of the Fund. Conclusions (J. Bezemer) As usual, participants are invited to drinks after the assembly. NB The minutes of the 2003 General Assembly are available from the Administration of the Fund (tel.(+4122)767 27 42; e-mail Sophia.Revol@cern.ch) SOME ASPECTS OF THE FUND'S ACTIVITIES IN 2003 The Governing Board (at 31 December 2003) Members Appointed by J. Be...

  11. Indian Education: Funding Sources for Public Schools.

    Science.gov (United States)

    Lockart, Barbetta L.

    Although provisions in countless treaties have mandated Indian educational services, federal and state governments were for many years unenthusiastic about accepting the responsibility for educating the Indian people. Inadequately funded educational services provided by the Bureau of Indian Affairs did little to reflect the realities and needs of…

  12. Don't lose sleep over funding

    NARCIS (Netherlands)

    Bonger, S.

    2010-01-01

    Assistant professor Jouke Verlinden, from the faculty of Industrial Design Engineering (IDE), is one of four finalists competing for the Delft Entrepreneurial Scientist Award. While completing his studies in the United States, he became aware of how important external funding was for scientific rese

  13. STEM Intervention Programs: Funding Practices and Challenges

    Science.gov (United States)

    Rincon, Blanca E.; George-Jackson, Casey E.

    2016-01-01

    This study examines the funding practices and challenges of diversity initiatives found in the science, technology, engineering, and mathematics (STEM) fields. Interviews with 55 intervention program administrators, representing 48 unique STEM intervention programs, were conducted at nine large research-intensive universities. The interviews,…

  14. 7 CFR 632.12 - Funding priorities.

    Science.gov (United States)

    2010-01-01

    ... AGRICULTURE LONG TERM CONTRACTING RURAL ABANDONED MINE PROGRAM Qualifications § 632.12 Funding priorities. (a.... Assignment of a priority and subpriority establishes the order in which the proposed reclamation work will be... extreme danger. (3) Priority 3. Restoration of the land and water resources and the environment where...

  15. GOVERNING BOARD OF THE PENSION FUND

    CERN Multimedia

    2000-01-01

    The Governing Board of the Pension Fund held its ninety-first meeting on 1st February 2000. A special morning session was devoted to questions concerning the asset allocation of pension funds. This subject was presented by J.-F. Boulier, research and management director at Sinopia in Paris, a subsidiary of the Crédit Commercial de France. Mr Boulier first presented the general context surrounding pension funds in Europe. He underlined the significant differences between the various European countries in the development of pension funds and their effects on the financial markets. He also addressed the long-term profitability of the different types of investment and, in the same connection, the essential role played by the time horizon inequity investments in not only achieving a positive real return but also exceeding the results of the other forms of investment. The last part of his presentation covered management strategies and the impact of an improvement in performance on the technical balance o...

  16. Geographic Distribution of Federal Funds in 1985.

    Science.gov (United States)

    Dubin, Elliott J.

    During the 1980s, federal spending for procurement, particularly defense procurement, retirement and survivors' benefits, medical benefits, and agricultural assistance payments grew dramatically, while spending for grants and salaries and wages lagged. But, the overall distribution of funding between metropolitan and nonmetropolitan areas remained…

  17. Governing Board of the Pension Fund

    CERN Document Server

    2005-01-01

    The Governing Board of the Pension Fund held its 133rd and 134th meetings on 20 April and 17 May respectively. The President of the CERN Council, Professor E. Iarocci, attended part of the first of these two meetings in order to inform the members of the Governing Board in person of the decisions affecting the Pension Fund taken at the March Session of Council. He underlined that the Council, meeting in Restricted Session, had approved an amendment to the procedure for the appointment of the Chairman of the Governing Board of the Pension Fund as well as the setting of a limit on the terms of office of members of the Board. He further informed the Board that the Council had unanimously decided to set up a new Working Group, "Osnes II", composed of four Council representatives (Professor E. Osnes, (Chair), Professor J. Niederle, Mr C. Van Riel and Mr P. Williams) and of four Fund members: one member appointed by the Director-General (Dr E. Chiaveri); one member appointed by the Staff Association (Dr J.-P. Math...

  18. The political origin of pension funding

    NARCIS (Netherlands)

    Perotti, E.; Schwienbacher, A.

    2009-01-01

    The paper seeks to explain the huge cross country variation in private pension funding, shaped by historical choice made when universal pension systems were created after the Great Depression. According to Perotti and von Thadden [Perotti, E., von Thadden, E.-L., 2006. The political economy of corpo

  19. About the debt to the Pension Fund

    CERN Multimedia

    Association du personnel

    2006-01-01

    At the Finance Committee meeting on 15 March 2006, the Management tabled a document for the Delegations' attention concerning CERN's debt to the Pension Fund. In view of the interest rates currently on the market, the Management proposes to reimburse this debt by taking out a bank loan.

  20. 78 FR 48622 - Connect America Fund

    Science.gov (United States)

    2013-08-09

    ... accountability and oversight, ensuring that universal service funding is used as efficiently as possible. When a...,'' ``small organization,'' and ``small governmental jurisdiction.'' In addition, the term ``small business...--UNIVERSAL SERVICE 0 1. The authority citation for part 54 is revised to read as follows: Authority:...

  1. Interdisciplinary research has consistently lower funding success.

    Science.gov (United States)

    Bromham, Lindell; Dinnage, Russell; Hua, Xia

    2016-06-30

    Interdisciplinary research is widely considered a hothouse for innovation, and the only plausible approach to complex problems such as climate change. One barrier to interdisciplinary research is the widespread perception that interdisciplinary projects are less likely to be funded than those with a narrower focus. However, this commonly held belief has been difficult to evaluate objectively, partly because of lack of a comparable, quantitative measure of degree of interdisciplinarity that can be applied to funding application data. Here we compare the degree to which research proposals span disparate fields by using a biodiversity metric that captures the relative representation of different fields (balance) and their degree of difference (disparity). The Australian Research Council's Discovery Programme provides an ideal test case, because a single annual nationwide competitive grants scheme covers fundamental research in all disciplines, including arts, humanities and sciences. Using data on all 18,476 proposals submitted to the scheme over 5 consecutive years, including successful and unsuccessful applications, we show that the greater the degree of interdisciplinarity, the lower the probability of being funded. The negative impact of interdisciplinarity is significant even when number of collaborators, primary research field and type of institution are taken into account. This is the first broad-scale quantitative assessment of success rates of interdisciplinary research proposals. The interdisciplinary distance metric allows efficient evaluation of trends in research funding, and could be used to identify proposals that require assessment strategies appropriate to interdisciplinary research.

  2. Sovereign Wealth Funds in the Next Decade

    OpenAIRE

    2010-01-01

    A prolonged and multispeed recovery period, its associated policy response, and the new global financial landscape might have important bearing on the size and allocation of sovereign wealth funds (SWFs) assets. SWFs could become a driving force in South-South flows, boosting global wealth by helping recycle large savings in surplus countries toward more productive investments. Whereas they ...

  3. The marginal cost of public funds

    DEFF Research Database (Denmark)

    Kleven, Henrik Jacobsen; Kreiner, Claus Thustrup

    2006-01-01

    This paper extends the theory and measurement of the marginal cost of public funds (MCF) to account for labor force participation responses. Our work is motivated by the emerging consensus in the empirical literature that extensive (participation) responses are more important than intensive (hours...

  4. Geographic Distribution of Federal Funds in 1985.

    Science.gov (United States)

    Dubin, Elliott J.

    During the 1980s, federal spending for procurement, particularly defense procurement, retirement and survivors' benefits, medical benefits, and agricultural assistance payments grew dramatically, while spending for grants and salaries and wages lagged. But, the overall distribution of funding between metropolitan and nonmetropolitan areas remained…

  5. Advantage from Funding Durable Centers Leasing

    Directory of Open Access Journals (Sweden)

    Alina Zając

    2009-09-01

    Full Text Available In present market conditions huge number of businessmen has problems from gain over from banks capital on purchase of durable centers not only, but also on develop - ment and operating activity Individual can use with different forms funding investment, it which is between different leasing.

  6. Funding child care and public education.

    Science.gov (United States)

    Zigler, E F; Finn-Stevenson, M

    1996-01-01

    Ensuring the availability of high-quality, affordable child care to all families who need it is a goal of national importance. The authors suggest that a comprehensive financing and service delivery system for child care is needed to achieve this goal, and the system should ideally be grounded in an existing institution, already present in every community--the public school. The linkage of child care with the public education system would eliminate the false distinction between child care and education, and would create a universally accessible system of child care services for children. The School of the 21st Century is an example of such a system. Initially conceptualized by Zigler, it has now been implemented in 400 schools across 13 states, with the leadership and direction of Finn-Stevenson. This article describes how school districts that have implemented the program employ a mixture of parent fees and local, state, federal, and private dollars to fund it, and then proposes an ideal financing model for the program. In the ideal model, the same mix of funding sources would be retained, but a per-pupil expenditure of about $9,000 per year is advocated to deliver child care and other social services to three- and four-year-olds. Funds for initial start-up could be derived from reallocation of existing dollars, especially state prekindergarten programs, but eventually new funds would be needed to support ongoing operations.

  7. Governing Board of the Pension Fund

    CERN Multimedia

    2006-01-01

    The Governing Board of the Pension Fund held its 143rd meeting on 11 April 2006. The Chairman of the Governing Board, Professor F. Ferrini, reported on the meetings of the CERN Finance Committee and Council on 15 and 16 March. On the recommendation of the Finance Committee, the CERN Council had approved the amendments to Administrative Circular No. 14 (Protection of the members of the personnel against the financial consequences of illness, accident and disability) and the resulting amendments to the Rules and Regulations of the Pension Fund. The new provisions will enter into force on 1st July 2006. Professor Ferrini also underlined that the Finance Committee had taken note of a document prepared by the CERN Management regarding the Organization's debt to the Pension Fund. Given that the Organization's debt to the Pension Fund has grown constantly over the last twenty years, and that it represents a burden on the Laboratory's future budgets, the Management wishes to reimburse the debt as rapidly as possible...

  8. Governing board of the pension fund

    CERN Multimedia

    2003-01-01

    On 4 February 2003 the Governing Board of the Pension Fund held its hundred and fourteenth meeting, the first meeting to be attended by G. de la Fuente and M. Goossens, recently elected as Alternates to I. Seis and J.-P. Matheys respectively. Opening the meeting, J. Bezemer, Chairman of the Governing Board with effect from 1st January 2003, paid tribute to the outgoing Chairman, P. Levaux, on behalf of all members of the Governing Board, underlining the skill, clarity of vision and unfailing commitment to the Fund that had marked the twelve years of a remarkable chairmanship. Over that time Paul Levaux had successfully guided the Fund towards the broader-based, dynamic scheme it had now become, and towards a central role within the Organization. The special guest at the meeting, CERN Director-General L. Maiani, also warmly thanked the former Chairman for his remarkable work for the Fund on behalf of the Organization to which he had made so many contributions and for the invaluable role he had played in promot...

  9. 76 FR 34969 - Investing in Innovation Fund

    Science.gov (United States)

    2011-06-15

    ... Investing in Innovation Fund (i3) competition. The Department of Education (Department) published three... FY 2011 i3 competition. The Department published a separate notice inviting applications for each... Regulations is available via the Federal Digital System at: http://www.gpo.gov/fdsys . At this site you...

  10. 75 FR 12407 - Capital Magnet Fund

    Science.gov (United States)

    2010-03-15

    ... financial statements, wire transfer documents, pro-formas, etc., and will be subject to periodic CDFI Fund... 1995 and assigned OMB Control Number 1559-0036. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a valid control number...

  11. 75 FR 26742 - Investing in Innovation Fund

    Science.gov (United States)

    2010-05-12

    ...] [FR Doc No: 2010-11451] DEPARTMENT OF EDUCATION Investing in Innovation Fund Catalog of Federal... (Development grants). AGENCY: Office of Innovation and Improvement, Department of Education. ACTION: Notice...: http://www.whitehouse.gov/omb/grants_spoc/ . You can also find the list of SPOCs in the appendix to...

  12. State Funding Mechanisms for English Language Learners

    Science.gov (United States)

    Millard, Maria

    2015-01-01

    Research is clear that English language learners (ELLs) perform better academically and achieve greater language proficiency when they have high-quality English language instruction.1 Like all supplemental services, these necessary supports require additional funding above the average per-student amount. The federal government provides grant…

  13. 75 FR 30007 - Teacher Incentive Fund

    Science.gov (United States)

    2010-05-28

    ... FY 2010 (NIA) for the Teacher Incentive Fund. This notice makes a correction to the May 21 NIA. FOR...: Correction On page 28745 of the May 21 NIA, we requested that applicants submit a short e-mail as a notice of... applicant intends to address.'' We are correcting the May 21 NIA to provide applicants with the correct...

  14. Evaluating the Student Loan Fund of Thailand

    Science.gov (United States)

    Tangkitvanich, Somkiat; Manasboonphempool, Areeya

    2010-01-01

    The Thai higher education sector has expanded quickly during the past decade, making a transition from an elitist to a mass institution. A driving force behind the expansion was believed to be the Student Loan Fund (SLF), introduced in 1996. During the first 10 years of its operation, the SLF has lent to more than 2.6 million students, with the…

  15. Optimal design of funded pension schemes

    NARCIS (Netherlands)

    Bovenberg, A.L.; Mehlkopf, R.J.

    2014-01-01

    This article reviews the literature on the optimal design and regulation of funded pension schemes. We first characterize optimal saving and investment over an individual’s life cycle. Within a stylized modeling framework, we explore optimal individual saving and investing behavior. Subsequently, va

  16. 75 FR 31665 - Electronic Fund Transfers

    Science.gov (United States)

    2010-06-04

    ... purposes of this rulemaking. List of Subjects in 12 CFR Part 205 Consumer protection, Electronic fund... the consumer of the right to revoke the opt-in at any time. See Sec. 205.17(d)(6), which permits... a consumer's account, unless the consumer affirmatively consents, or opts in, to the institution's...

  17. Native American Rights Fund: 1982 Annual Report.

    Science.gov (United States)

    Native American Rights Fund, Boulder, CO.

    The 1982 annual report of the Native American Rights Fund (NARF), a non-profit organization specializing in the protection of Indian rights, explains the organization, its structure, its priorities, its activities, and its financial status. Opening statements by the chairman, Roger Jim, and the executive director, John Echohawk, note that despite…

  18. 24 CFR 1003.304 - Funding process.

    Science.gov (United States)

    2010-04-01

    ...) OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT COMMUNITY DEVELOPMENT BLOCK GRANTS FOR INDIAN TRIBES AND ALASKA NATIVE VILLAGES Single Purpose Grant... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Funding process. 1003.304 Section...

  19. Funding challenges for the CCCM cluster

    Directory of Open Access Journals (Sweden)

    Jane Wanjiru Muigai

    2007-12-01

    Full Text Available Camp coordination and camp management (CCCM is one ofthe new clusters which have grown out of the humanitarianreform process. UNHCR is cluster lead in the case of conflict-induced displacement but are other agencies expecting toomuch of it? Can NGOs obtain the funding required to ensureCCCM improves the lives of IDPs in camps?

  20. 42 CFR 93.209 - Funding component.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 1 2010-10-01 2010-10-01 false Funding component. 93.209 Section 93.209 Public Health PUBLIC HEALTH SERVICE, DEPARTMENT OF HEALTH AND HUMAN SERVICES HEALTH ASSESSMENTS AND HEALTH EFFECTS STUDIES OF HAZARDOUS SUBSTANCES RELEASES AND FACILITIES PUBLIC HEALTH SERVICE POLICIES ON...

  1. PRIVATE PENSION FUND: ESSENCE, CHARACTERISTICS AND FUNCTIONS

    Directory of Open Access Journals (Sweden)

    Mamiy E. A.

    2016-02-01

    Full Text Available In developed and developing countries around the world, social security is beginning to gain a more important role, directly or indirectly affecting one of any economy priorities - maintaining and increasing the welfare of society. At the same time, constantly evolving and developing economic processes derive the task of the social security system regulating on a more complex level. There is a need for constant optimization and bringing the above-mentioned mechanism to such a state that would be able to meet modern criteria. The provided by the state and non-state pension institutes system acts as a basic element of social security whose responsibility area is to create a comfortable financial situation of old age people. Today the effectiveness of the non-state provision system and private pension funds lends itself to wide criticism that entails the actualization and possible rethinking of the existing theoretical framework. This article describes the theoretical aspects of the private pension funds essence. Here is the systematization of the many approaches to the definition of the investigated institute. In addition, the authors identify a number of private pension funds features and functions. The article gives the authors understanding of the private pension funds essence

  2. Endowments as a Source of Library Funds.

    Science.gov (United States)

    Kane, Frederick A.

    To obtain private endowments as a source of library funds the following needs to be done: (1) work hard with a definite goal in view; (2) plan a course of action; (3) contact those individuals whom investigations show may help; (4) search out help from newspapers, banks, radio and television stations; (5) consider the employment of a full time…

  3. Europe frames fresh funding initiative for research

    CERN Multimedia

    Schiermeier, Q

    2001-01-01

    The EC has suggested sweeping reforms to the Framework programme. Instead of supporting large numbers of unrelated projects, in its next phase, the intention is that it will fund a much smaller number of large, integrated projects (1/2 page).

  4. Risk Measures for Autocorrelated Hedge Fund Returns

    NARCIS (Netherlands)

    A. Di Cesare (Antonio); Ph.A. Stork (Philip); C.G. de Vries (Casper)

    2011-01-01

    textabstractStandard risk metrics tend to underestimate the true risks of hedge funds because of serial correlation in the reported returns. Getmansky et al. (2004) derive mean, variance, Sharpe ratio, and beta formulae adjusted for serial correlation. Following their lead, adjusted downside and glo

  5. Alternative Funding For Public Goods Provision

    OpenAIRE

    Kodrat Wibowo

    2002-01-01

    Finding alternatives in public good financing is one of the most recent issues in the government sector. Tax-financed for pure public good is well known results further problems like externalities and economic inequity. This paper only addresses the qualitative analysis in discussing benefits and costs of the society in applying some alternatives in funding public good provisions, pure and impure one.

  6. Center Funding Research on Math, Science Cognition

    Science.gov (United States)

    Cavanagh, Sean

    2006-01-01

    Four years ago, federal officials launched an initiative to study mathematics and science cognition. Since then, that program has begun to exert its influence through the relatively modest but steady flow of public funding it provides for scholarly research. In this article, the author features the federal center entitled, Program on Mathematics…

  7. 78 FR 38227 - Connect America Fund

    Science.gov (United States)

    2013-06-26

    ... 3 Mbps/768 kbps Internet access. We do so in recognition that carriers evaluate the economics of... without broadband, should also improve the economics of extending service to those customers who lack even... are reasonably comparable to comparable offerings in urban areas. 22. Phase I funding recipients will...

  8. Obtaining Funding and Support for Undergraduate Research

    Science.gov (United States)

    Dorff, Michael; Narayan, Darren A.

    2013-01-01

    Over the past decade there has been a dramatic increase in undergraduate research activities at colleges and universities nationwide. However, this comes at a time when budgets are being tightened and some institutions do not have the resources to pursue new initiatives. In this article we present some ideas for obtaining funding and support for…

  9. Annual General Meeting of the Pension Fund

    CERN Multimedia

    CERN Pension Fund

    2011-01-01

    All members and beneficiaries of the Pension Fund are invited to attend the Annual General Meeting to be held in the CERN Council Chamber on Tuesday 20 September 2011 from 10:00 a.m. to 12:00 p.m. Coffee and croissants will be served prior to the meeting as of 9:30 a.m.  

  10. The Transvaal Horse Artillery History Fund

    OpenAIRE

    Neil D. Open

    2012-01-01

    The Transvaal Horse Artillery History Fund has kindly sent me a copy of R.J. Bouch's review of 'The History of the Transvaal Horse Artillery, 1904-1974', in which the reviewer raises a very interesting point which I think should be clarified.

  11. 7 CFR 955.44 - Excess funds.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 8 2010-01-01 2010-01-01 false Excess funds. 955.44 Section 955.44 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... demands payment thereof, in which event such proportionate refund shall be paid. ...

  12. 7 CFR 945.44 - Excess funds.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 8 2010-01-01 2010-01-01 false Excess funds. 945.44 Section 945.44 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... following fiscal period, except that if the handler demands payment, such proportionate refund shall be paid...

  13. The Search for Security Technology Funding.

    Science.gov (United States)

    Fickes, Michael

    2003-01-01

    Explains that although it is difficult to find money to pay for school security technology, there are places to look. For example, the Department of Education has a list serve that summarizes various funding opportunities. There is also a Federal Register list serve and a site put out by the Department of Justice. A sidebar presents three…

  14. Chinese Foreign Funds Absorbing Strategy Faces Adjustment

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    @@ The Ministry of Commerce released that during the 11th Fiveyear Plan, China will make major adjustment in the strategy of using foreign funds and make efforts to promote the transfer of foreign trade increase measures. The major changes are as follows:

  15. Federal Research and Development Funding: FY2017

    Science.gov (United States)

    2017-01-27

    the spectrum auction proceeds in FY2015 to help industry and public safety organizations conduct research and develop new standards, technologies...Detection Office (DNDO) DNDO is the DHS organization responsible for nuclear detection research, development , testing, evaluation, acquisition, and...Federal Research and Development Funding: FY2017 John F. Sargent Jr., Coordinator Specialist in Science and Technology Policy Robert Esworthy

  16. Tertiary Education Funding in Times of Contraction.

    Science.gov (United States)

    Jackson, Graham W.

    1984-01-01

    Consideration of a wide variety of options in maximizing income and controlling expenditures is recommended for Australian universities. Although marketing, fund raising, investment, and other income-producers are possibilities, tight control of expenditures is seen as the most effective retrenchment strategy. (MSE)

  17. ELECTIONS PENSION FUND 2nd candidate

    CERN Multimedia

    2001-01-01

    ORGANISATION EUROPEENNE POUR LA RECHERCHE NUCLEAIRE CERN EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH CAISSE DE PENSIONS / PENSION FUND Caisse de Pensions - ELECTIONS - Pension Fund This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate : Name : FRANDSEN First Name : Poul Kjaer  I have been member of the staff since 1974, and member of staff council for more than 12 years, and my main motivation has been to work for improving the social conditions of the CERN staff. A very important pillar of this is a sound and healthy pension fund. A capitalised scheme has been and still is the best choice for assuring the benefits for the CERN staff, present and future, this social system being part of the whole necessary to attract the best staff to the future High Energy Physics in Europe. However, even the hypothetic close down of the Organisation should allow the benefits to exi...

  18. ELECTIONS PENSION FUND CANDIDATE NR 2

    CERN Multimedia

    2001-01-01

    ORGANISATION EUROPEENNE POUR LA RECHERCHE NUCLEAIRE CERN EUROPEAN ORGANIZATION FOR NUCLEAR RESEARCH CAISSE DE PENSIONS / PENSION FUND Caisse de Pensions - ELECTIONS - Pension Fund This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund. Candidate : Name : FRANDSEN First Name : Poul Kjaer  I have been member of the staff since 1974, and member of staff council for more than 12 years, and my main motivation has been to work for improving the social conditions of the CERN staff. A very important pillar of this is a sound and healthy pension fund. A capitalised scheme has been and still is the best choice for assuring the benefits for the CERN staff, present and future, this social system being part of the whole necessary to attract the best staff to the future High Energy Physics in Europe. However, even the hypothetic close down of the Organisation should allow the benefits to exi...

  19. Science Funding cuts threaten scientific research

    CERN Multimedia

    2008-01-01

    Page 1 of 3 Researchers are in uproar after a recently established quango unveiled a series of cuts and abandoned some projects altogether because of an estimated 80m funding shortfall. Martin Rees, the Astronomer Royal, argues that Britain will pay a far higher price if it scraps vital projects now

  20. GOVERNING BOARD OF THE PENSION FUND

    CERN Multimedia

    2001-01-01

    The Governing Board of the Pension Fund held its ninety-ninth meeting on 6 March. On that occasion, it examined the assets-liabilities management report presented by Professor Guus E. Boender and Mr H. Steehouwer of the firm ORTEC of Rotterdam. The first part of the presentation of the report consisted of a general introduction to the principles of an assets-liabilities management study, its mechanisms and its goals. Professor Boender particularly underlined the importance of such studies which are based on a probabilistic approach to determine the trend in the long-term financial position of a pension fund in a dynamic context. For bodies responsible for ensuring that the prerequisites for a balanced pension fund exist, the assets-liabilities management study provides the opportunity, on the basis of a large number of financial scenarios, to assess the risks of insufficient asset cover to meet a pension fund's long-term commitments and to identify measures for remedying it. The second part of the presentatio...