WorldWideScience

Sample records for nontraditional financing options

  1. Gender and the knowledge of financing options by immigrant ...

    African Journals Online (AJOL)

    In addition, the knowledge of non-traditional equity financing options such as crowdfunding is weak. There is no significant gender difference in the knowledge of financing options by immigrant entrepreneurs. Recommendations to improve the knowledge of financing options are suggested. Keywords: gender, knowledge ...

  2. Exploring Higher Education Financing Options

    Science.gov (United States)

    Nkrumah-Young, Kofi K.; Powell, Philip

    2011-01-01

    Higher education can be financed privately, financed by governments, or shared. Given that the benefits of education accrue to the individual and the state, many governments opt for shared financing. This article examines the underpinnings of different options for financing higher education and develops a model to compare conditions to choices and…

  3. Towards more financing options for energy efficient buildings and houses

    International Nuclear Information System (INIS)

    Vethman, P.; Menkveld, M.

    2012-02-01

    This article offers an impression of the problems related to the limited financial options for energy efficient buildings and dwellings and possible solutions. It is based on a recent ECN study (RE-BIZZ) and several interviews about this topic with financers. There is a need for a more business appreciation of market parties such as financers for energy efficiency in buildings to increase financing options. The market needs the help of the government, which can help to remove barriers and hence make financing more appealing. [nl

  4. Results of focus group assessments of transportation financing options.

    Science.gov (United States)

    2013-01-01

    The Wisconsin Commission on Transportation Finance and Policy was created in the 2011-2013 biennial state budget to : identify and evaluate transportation finance options to address needs into the future. As part of its scope, the Commission : needed...

  5. How federalism shapes public health financing, policy, and program options.

    Science.gov (United States)

    Ogden, Lydia L

    2012-01-01

    In the United States, fiscal and functional federalism strongly shape public health policy and programs. Federalism has implications for public health practice: it molds financing and disbursement options, including funding formulas, which affect allocations and program goals, and shapes how funding decisions are operationalized in a political context. This article explores how American federalism, both fiscal and functional, structures public health funding, policy, and program options, investigating the effects of intergovernmental transfers on public health finance and programs.

  6. Introduction to the mathematics of finance from risk management to options pricing

    CERN Document Server

    Roman, Steven

    2004-01-01

    The Mathematics of Finance has become a hot topic in applied mathematics ever since the discovery of the Black-Scholes option pricing formulas in 1973. Unfortunately, there are very few undergraduate textbooks in this area. This book is specifically written for upper division undergraduate or beginning graduate students in mathematics, finance or economics. With the exception of an optional chapter on the Capital Asset Pricing Model, the book concentrates on discrete derivative pricing models, culminating in a careful and complete derivation of the Black-Scholes option pricing formulas as a limiting case of the Cox-Ross-Rubinstein discrete model. The final chapter is devoted to American options. The mathematics is not watered down but is appropriate for the intended audience. No measure theory is used and only a small amount of linear algebra is required. All necessary probability theory is developed in several chapters throughout the book, on a "need-to-know" basis. No background in finance is required, sinc...

  7. Financing options to develop non-conventional reserves

    International Nuclear Information System (INIS)

    Tricoli, C.

    1997-01-01

    The economics of non-conventional natural gas reserves such as coalbed methane, gas shales and tight gas were discussed, with special reference to financing options to develop such reserves. Before 1992, tax credits were used to stimulate the development of non-conventional gas. The requirements for section 29 tax credits, the objectives of investors and producers, and the methods used to monetize section 29 tax credits, such as public royalty trusts, partnership structures, and up-front payment mechanisms were described. The capital gains implications of gas sales were also reviewed. It was noted that in the absence of tax credits, financing the development of non-conventional reserves must undergo the same economic scrutiny as any other oil and gas project

  8. Nontraditional Degree Options for Nurses: A Model Program

    Science.gov (United States)

    Walston, Sydney C.

    1978-01-01

    The Institute for Personal and Career Development of Central Michigan University offers external degree programs for adult learners using nontraditional study. The competency-based programs described include credit given for the educational background and relevant career-life experiences of registered nurses in Michigan. (Author/LBH)

  9. Mitigation incentives with climate finance and treaty options

    International Nuclear Information System (INIS)

    Strand, Jon

    2016-01-01

    Future greenhouse gas (GHG) mitigation action of current non-climate-policy (NP) countries is considered to take two alternative forms: 1) “climate finance” payments received in return for future reductions in its GHG emissions below a defined “baseline”; and 2) join a “climate treaty” whereby the required emissions reductions are formally binding. It is assumed that baselines defining climate finance payments, and required emissions reductions under a treaty, depend positively on current emissions. It is then shown that making such future options available reduces current GHG mitigation in NP countries, leading to higher emissions in the short run. This effect is stronger when future climate finance payments are higher; the required relative emissions reductions under a treaty are greater; when commitments under a treaty are longer-lasting; and mitigation targets depend more on current emissions. Such short-run increases in emissions can (sometimes, more than) fully eliminate the effect of the subsequent policy. When climate finance and treaties are both future alternatives, more generous climate finance can make it harder and more expensive to induce the country to join a climate treaty. - Highlights: • A good future climate finance arrangement can increase GHG emissions today. • The same can be the case with a future and restrictive climate treaty. • These can be problems when costs under such solutions are reduced by higher emissions today. • Better climate finance also tends to make joining a climate treaty less attractive.

  10. Financing Options and Development Projects in the Nigerian Local ...

    African Journals Online (AJOL)

    This study is an investigation into the impact of Nigerian local government financing options on successful execution of development projects. Through the ordinary least square regression analysis, the study proved that though there is an established case of underfunding in the entire Nigerian local government system, the ...

  11. Community Based Healthcare Financing: An Untapped Option to a ...

    African Journals Online (AJOL)

    Objective: This review evaluates healthcare funding in Nigeria ith respect to health budget and health expenditure, appraises the national health insurance scheme, and examines community health care financing as a plausible option to a more effective funding of healthcare in Nigeria. Pattern of health funding in Nigeria: ...

  12. Some topics in mathematical finance: Asian basket option pricing, Optimal investment strategies

    OpenAIRE

    Diallo, Ibrahima

    2010-01-01

    This thesis presents the main results of my research in the field of computational finance and portfolios optimization. We focus on pricing Asian basket options and portfolio problems in the presence of inflation with stochastic interest rates.In Chapter 2, we concentrate upon the derivation of bounds for European-style discrete arithmetic Asian basket options in a Black and Scholes framework.We start from methods used for basket options and Asian options. First, we use the general approach f...

  13. What's Next? Planning and Financing Your Post-Secondary Education. Revised. Students Finance. Study Your Options.

    Science.gov (United States)

    Alberta Learning, Edmonton.

    This guide is designed to help students in Alberta, Canada, plan and finance postsecondary education. A student who has made financial plans will have more options when it is time to choose an institution for postsecondary education. How to choose the right school depends on what a student wants from education and what he or she plans for the…

  14. What's Next? Planning and Financing Your Post-Secondary Education. Students Finance. Study your Options. Revised.

    Science.gov (United States)

    Human Resources Development Canada, Ottawa (Ontario).

    This updated guide is designed to help students in Alberta, Canada, plan and finance postsecondary education. A student who has made financial plans will have more options when it is time to choose an institution for postsecondary education. How to choose the right school depends on what a student wants from education and what he or she plans for…

  15. The Revival of Non-Traditional State Actors' Interests in Africa

    DEFF Research Database (Denmark)

    Kragelund, Peter

    2012-01-01

    credit ratings make external finance available for African governments. This article examines how non-traditional state actors affect the possibility of African governments setting and funding their own development priorities. It argues that while the current situation may increase the policy autonomy...

  16. Business models and financing options for a rapid scale-up of rooftop solar power systems in Thailand

    International Nuclear Information System (INIS)

    Tongsopit, Sopitsuda; Moungchareon, Sunee; Aksornkij, Apinya; Potisat, Tanai

    2016-01-01

    Diverse solar PV business models and financing options exist in the international landscape, helping expand and accelerate the adoption of rooftop solar PV systems. The conditions for their emergence are context specific, depending on the policies, regulations, incentives, and market conditions of each country. After a review of the international landscape, this paper compiles and analyzes business models and financing options for rooftop solar PV investment in Thailand that have emerged during the period between 2013 and 2015. Despite policy discontinuity for the support of rooftop solar systems, diverse business models and financing options are driving market expansion and expanding solar access to more Thai consumers. Drawing on our policy and regulatory analyses and in-depth interviews with business representatives, we identify four types of business models and one financing option. The business models include Roof Rental, Solar PPA, Solar Leasing, and Community Solar, and the financing option is the solar loan. We analyze the drivers for their emergence, barriers to their success, and the risks from the business owners' and consumers' viewpoints. Our policy recommendation is focused on crafting a net-metering regulation with evidence-based studies on the potential costs and benefits to different stakeholders. - Highlights: •Advances understanding on PV business models in urban developing countries' context. •Reviews emerging rooftop solar business models in Thailand. •Thailand has a dynamic solar market despite policy uncertainties.

  17. Quantum finance Hamiltonian for coupon bond European and barrier options.

    Science.gov (United States)

    Baaquie, Belal E

    2008-03-01

    Coupon bond European and barrier options are financial derivatives that can be analyzed in the Hamiltonian formulation of quantum finance. Forward interest rates are modeled as a two-dimensional quantum field theory and its Hamiltonian and state space is defined. European and barrier options are realized as transition amplitudes of the time integrated Hamiltonian operator. The double barrier option for a financial instrument is "knocked out" (terminated with zero value) if the price of the underlying instrument exceeds or falls below preset limits; the barrier option is realized by imposing boundary conditions on the eigenfunctions of the forward interest rates' Hamiltonian. The price of the European coupon bond option and the zero coupon bond barrier option are calculated. It is shown that, is general, the constraint function for a coupon bond barrier option can -- to a good approximation -- be linearized. A calculation using an overcomplete set of eigenfunctions yields an approximate price for the coupon bond barrier option, which is given in the form of an integral of a factor that results from the barrier condition times another factor that arises from the payoff function.

  18. Unlocking Solar for Low- and Moderate-Income Residents: A Matrix of Financing Options by Resident, Provider, and Housing Type

    Energy Technology Data Exchange (ETDEWEB)

    Cook, Jeffrey J. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Bird, Lori A. [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2018-01-02

    Historically the low and moderate income (LMI) market has been underserved by solar photovoltaics (PV), in part due to the unique barriers LMI residents face to participation in the PV market. The intent of this report is to identify the most promising strategies state policymakers might consider to finance PV for LMI customers across three housing types: single family, multi-family, and manufactured housing. The result is a financing matrix that documents the first and second tier financing options states may consider for each housing type. The first tier options were selected based upon their potential impact on LMI PV deployment. Second tier financing approaches could also be used to achieve state policy goals, but may not have as much effect on the relevant LMI market segment. Nevertheless, each financing option comes with tradeoffs that state policymakers may wish to consider when they make decisions about which financing approaches are best suited to achieve their LMI PV deployment goals.

  19. Quantum Mechanics, Path Integrals and Option Pricing: Reducing the Complexity of Finance

    OpenAIRE

    Baaquie, Belal E.; Coriano, Claudio; Srikant, Marakani

    2002-01-01

    Quantum Finance represents the synthesis of the techniques of quantum theory (quantum mechanics and quantum field theory) to theoretical and applied finance. After a brief overview of the connection between these fields, we illustrate some of the methods of lattice simulations of path integrals for the pricing of options. The ideas are sketched out for simple models, such as the Black-Scholes model, where analytical and numerical results are compared. Application of the method to nonlinear sy...

  20. An Investigation of the Perceptions of Business Students Regarding Non-Traditional Business Education Formats.

    Science.gov (United States)

    Barnes, John W.; Hadjimarcou, John

    1999-01-01

    A survey of 118 undergraduate business students at a major southwestern university found that most consider non-traditional education as a viable option to traditional education. However, respondents also identified disadvantages of non-traditional programs, such as cost, external validity of degrees, and impersonalized learning environment.…

  1. Availability of healthier options in traditional and nontraditional rural fast-food outlets

    Directory of Open Access Journals (Sweden)

    McIntosh Alex

    2008-11-01

    Full Text Available Abstract Background Food prepared away from home has become increasingly popular to U.S. families, and may contribute to obesity. Sales have been dominated by fast food outlets, where meals are purchased for dining away from home or in the home. Although national chain affiliated fast-food outlets are considered the main source for fast food, fast foods are increasingly available in convenience stores and supermarkets/grocery stores. In rural areas, these nontraditional fast-food outlets may provide most of the opportunities for procurement of fast foods. Methods Using all traditional and nontraditio nal fast-food outlets identified in six counties in rural Texas, the type and number of regular and healthiermenu options were surveyed using on-site observation in all food venues that were primarily fast food, supermarket/grocery store, and convenience store and compared with 2005 Dietary Guidelines. Results Traditional fast-food outlets represented 84 (41% of the 205 opportunities for procurement of fast food; 109 (53.2% were convenience stores and 12 (5.8% supermarkets/grocery stores. Although a s imilar variety of regular breakfast and lunch/dinner entrées were available in traditional fast-food outlets and convenience stores, the variety of healthier breakfast and lunch/dinner entrées was significantly greater in fast food outlets. Compared with convenience stores, supermarkets/grocery stores provided a greater variety of regular and healthier entrées and lunch/dinner side dishes. Conclusion Convenience stores and supermarkets/grocery stores more than double the potential access to fast foods in this rural area than traditional fast-food outlets alone; however, traditional fast food outlets offer greater opportunity for healthier fast food options than convenience stores. A complete picture of fast food environment and the availability of healthier fast food options are essential to understand environmental influences on diet and health

  2. Financing options in Mexico`s energy industry

    Energy Technology Data Exchange (ETDEWEB)

    McKenna, J.J. [PricewaterhouseCoopers Securities, Houston, TX (United States)

    1999-10-01

    A series of brief notes accompanied this presentation which was divided into seven sections entitled: (1) capital markets update, (2) Mexican financial market update, (3) financing options in the energy industry, (4) the Venezuelan experience at La Apertura, (5) private and strategic equity alternatives, (6) Pricewaterhouse Coopers Securities, and (7) Mexico energy 2005 prediction. The paper focused on how the financial crisis and merger activity in Latin America will impact electricity reform in Mexico. It was noted that under Mexico`s Policy Proposal for Electricity Reform of the Mexican Electricity Industry, the financial community will seek to back companies in power generation, transportation and distribution. The difficulty of financing government businesses undergoing privatization was also discussed with particular emphasis on the challenge of accepting political and regulatory risks. The Latin private equity market and Canadian investment in Mexico was also reviewed. Since NAFTA (North American Free Trade Agreement) went into affect in 1994, Canadian investment in Mexico has more than tripled. Canadian companies have invested more than C$1.7 billion in Mexico since NAFTA. Pricewaterhouse Coopers Securities is a global investment bank which sees large opportunities in the Mexican energy market. They predict that in five years, Mexico will experience a gradual liberalization of the oil and gas sector, and a full liberalization of the gas pipeline and distribution business and the power generation, transmission and distribution business. 3 figs.

  3. Feynman perturbation expansion for the price of coupon bond options and swaptions in quantum finance. II. Empirical.

    Science.gov (United States)

    Baaquie, Belal E; Liang, Cui

    2007-01-01

    The quantum finance pricing formulas for coupon bond options and swaptions derived by Baaquie [Phys. Rev. E 75, 016703 (2006)] are reviewed. We empirically study the swaption market and propose an efficient computational procedure for analyzing the data. Empirical results of the swaption price, volatility, and swaption correlation are compared with the predictions of quantum finance. The quantum finance model generates the market swaption price to over 90% accuracy.

  4. NPS transportation innovative finance options

    Science.gov (United States)

    2013-05-01

    This paper provides a summary of innovative transportation finance techniques and discusses their applicability to the National Park Service (NPS). The primary finding of this analysis is that while NPS is engaging in innovative finance techniques su...

  5. Squeezing the funding you need from today's capital sources.

    Science.gov (United States)

    Gordon, Deborah C

    2010-04-01

    Healthcare providers need to understand traditional and nontraditional financing options and other potential strategies for accessing capital. Common financing options include bonds, commercial lending, acquisition financing, and financing through the Department of Housing and Urban Development's Section 232 program. Alternative strategies for accessing capital include joint ventures, equity, sale of assets, fund-raising, capital leases, internal capital, public grants, and grants from foundations.

  6. MODERN OPTIONS FOR THE FINANCING OF THE REAL ESTATE INVESTMENTS

    Directory of Open Access Journals (Sweden)

    Chiriac Silviu-Cornel-Virgil

    2015-07-01

    Full Text Available The investments represent one of the most important elements in the national economy development strategies, as well as in all the business fields and branches. The notion of investment is extremely complex, perceived with different meanings and significates. In a general, wider meaning the investments represent a capital placement which is made with the purpose of obtaining profit bearing incomes in the future. In a narrower meaning, investments mean the totality of expenses made for obtaining capital assets which are future potential factors in the formation of incomes. Investments represent the most important factor in the development strategies of the national economy as well as in all the business fields and branches. The investment strategy represents an important element in the management of the investments and a component of the general strategy of the entity. The use of investment strategies in the management activity implies the application of scientific techniques and methods. The great number of studies carried out shows that there were no certain answers formed, very often the option for a form of financing or the other is influenced only by the “level of accessibility” of the resources available on the financial market and the financing policy of many companies is guided rather by the constraints of the financial market than a coherent company strategy In order to ensure a constant economic growth it is necessary to prepare investment projects. In practice the predominant one is the investment activity based on real investments performed for the modernising of assets, in order to ensure their physical and moral wear and tear. The analysis of real estate investments can be made using a various range of indicators, from the traditional ones to those based on the updated cash flow, using traditional analysis techniques or complex techniques used by specialists with training in the analysis of real estate investment. The

  7. HOW DO ENTREPRENEURIAL TECHNOLOGY FIRMS REALLY GET FINANCED, AND WHAT DIFFERENCE DOES IT MAKE?

    OpenAIRE

    KELVIN W. WILLOUGHBY

    2008-01-01

    This paper discusses an emerging heterodoxy in the academic literature on entre- preneurial technology finance that is based on the idea of "bootstrapping." Bootstrap finance is a third approach (emphasizing funding technology ventures through revenue and other non-traditional sources), alongside the orthodoxies of traditional business finance (emphasizing debt) and contemporary venture finance (emphasizing venture capital and public equity). The paper also reports the results of an original ...

  8. U.S. physicians' views on financing options to expand health insurance coverage: a national survey.

    Science.gov (United States)

    McCormick, Danny; Woolhandler, Steffie; Bose-Kolanu, Anjali; Germann, Antonio; Bor, David H; Himmelstein, David U

    2009-04-01

    Physician opinion can influence the prospects for health care reform, yet there are few recent data on physician views on reform proposals or access to medical care in the United States. To assess physician views on financing options for expanding health care coverage and on access to health care. Nationally representative mail survey conducted between March 2007 and October 2007 of U.S. physicians engaged in direct patient care. Rated support for reform options including financial incentives to induce individuals to purchase health insurance and single-payer national health insurance; rated views of several dimensions of access to care. 1,675 of 3,300 physicians responded (50.8%). Only 9% of physicians preferred the current employer-based financing system. Forty-nine percent favored either tax incentives or penalties to encourage the purchase of medical insurance, and 42% preferred a government-run, taxpayer-financed single-payer national health insurance program. The majority of respondents believed that all Americans should receive needed medical care regardless of ability to pay (89%); 33% believed that the uninsured currently have access to needed care. Nearly one fifth of respondents (19.3%) believed that even the insured lack access to needed care. Views about access were independently associated with support for single-payer national health insurance. The vast majority of physicians surveyed supported a change in the health care financing system. While a plurality support the use of financial incentives, a substantial proportion support single payer national health insurance. These findings challenge the perception that fundamental restructuring of the U.S. health care financing system receives little acceptance by physicians.

  9. Financing options in Mexico's energy industry

    Energy Technology Data Exchange (ETDEWEB)

    McKenna, J.J. (PricewaterhouseCoopers Securities, Houston, TX (United States))

    1999-01-01

    A series of brief notes accompanied this presentation which was divided into seven sections entitled: (1) capital markets update, (2) Mexican financial market update, (3) financing options in the energy industry, (4) the Venezuelan experience at La Apertura, (5) private and strategic equity alternatives, (6) Pricewaterhouse Coopers Securities, and (7) Mexico energy 2005 prediction. The paper focused on how the financial crisis and merger activity in Latin America will impact electricity reform in Mexico. It was noted that under Mexico's Policy Proposal for Electricity Reform of the Mexican Electricity Industry, the financial community will seek to back companies in power generation, transportation and distribution. The difficulty of financing government businesses undergoing privatization was also discussed with particular emphasis on the challenge of accepting political and regulatory risks. The Latin private equity market and Canadian investment in Mexico was also reviewed. Since NAFTA (North American Free Trade Agreement) went into affect in 1994, Canadian investment in Mexico has more than tripled. Canadian companies have invested more than C$1.7 billion in Mexico since NAFTA. Pricewaterhouse Coopers Securities is a global investment bank which sees large opportunities in the Mexican energy market. They predict that in five years, Mexico will experience a gradual liberalization of the oil and gas sector, and a full liberalization of the gas pipeline and distribution business and the power generation, transmission and distribution business. 3 figs.

  10. Group Classification of a General Bond-Option Pricing Equation of Mathematical Finance

    OpenAIRE

    Motsepa, Tanki; Khalique, Chaudry Masood; Molati, Motlatsi

    2014-01-01

    We carry out group classification of a general bond-option pricing equation. We show that the equation admits a three-dimensional equivalence Lie algebra. We also show that some of the values of the constants which result from group classification give us well-known models in mathematics of finance such as Black-Scholes, Vasicek, and Cox-Ingersoll-Ross. For all such values of these arbitrary constants we obtain Lie point symmetries. Symmetry reductions are then obtained and group invariant so...

  11. Modelling the affordability and distributional implications of future health care financing options in South Africa.

    Science.gov (United States)

    McIntyre, Di; Ataguba, John E

    2012-03-01

    South Africa is considering introducing a universal health care system. A key concern for policy-makers and the general public is whether or not this reform is affordable. Modelling the resource and revenue generation requirements of alternative reform options is critical to inform decision-making. This paper considers three reform scenarios: universal coverage funded by increased allocations to health from general tax and additional dedicated taxes; an alternative reform option of extending private health insurance coverage to all formal sector workers and their dependents with the remainder using tax-funded services; and maintaining the status quo. Each scenario was modelled over a 15-year period using a spreadsheet model. Statistical analyses were also undertaken to evaluate the impact of options on the distribution of health care financing burden and benefits from using health services across socio-economic groups. Universal coverage would result in total health care spending levels equivalent to 8.6% of gross domestic product (GDP), which is comparable to current spending levels. It is lower than the status quo option (9.5% of GDP) and far lower than the option of expanding private insurance cover (over 13% of GDP). However, public funding of health services would have to increase substantially. Despite this, universal coverage would result in the most progressive financing system if the additional public funding requirements are generated through a surcharge on taxable income (but not if VAT is increased). The extended private insurance scheme option would be the least progressive and would impose a very high payment burden; total health care payments on average would be 10.7% of household consumption expenditure compared with the universal coverage (6.7%) and status quo (7.5%) options. The least pro-rich distribution of service benefits would be achieved under universal coverage. Universal coverage is affordable and would promote health system equity, but

  12. Financing options for small hydro projects

    International Nuclear Information System (INIS)

    Shepherd, J.C.

    1993-01-01

    Examples and techniques used to enhance the ability to finance small hydro projects, or to finance them in non-standard ways, were discussed. It was suggested that factors that motivate investors, namely the maximization of the rate of return on capital, and minimization of risk, should be the primary concern for any would-be developer. A responsible, conservative approach to financial projections was recommended as the best to impress potential investors

  13. Economic impact of land finance and subsequent risk response

    Institute of Scientific and Technical Information of China (English)

    Lü Wei; Xu Hongwei

    2014-01-01

    In China,land finance is actually an endogenous factor in economic growth.As a kind of nontraditional,informal government revenue in China's economic transition process,land finance is unstable,non-standard and unsustainable,and it simultaneously makes the current land-finance dependent growth mode difficult to maintain.The paper firstly analyzes the impact of the land finance on China's economic growth and economic structure change followed by discussing the possible risks in post-"land finance" period.It then put forward some suggestions to deal with the problem.The analysis shows that land finance exacerbates the economic fluctuation,bringing in the increase of government public expenditure and economic growth in the short term.Nonetheless,in the long term there is no significant effect,and it could gradually lead to a more unreasonable economic structure.In the post-"land finance" period,if we do not take precautions in advance,it will restrain the sustainable development of China's economy and society.

  14. Group Classification of a General Bond-Option Pricing Equation of Mathematical Finance

    Directory of Open Access Journals (Sweden)

    Tanki Motsepa

    2014-01-01

    Full Text Available We carry out group classification of a general bond-option pricing equation. We show that the equation admits a three-dimensional equivalence Lie algebra. We also show that some of the values of the constants which result from group classification give us well-known models in mathematics of finance such as Black-Scholes, Vasicek, and Cox-Ingersoll-Ross. For all such values of these arbitrary constants we obtain Lie point symmetries. Symmetry reductions are then obtained and group invariant solutions are constructed for some cases.

  15. Unlocking Land Values to Finance Urban Infrastructure : Land-Based Financing Options for Cities

    OpenAIRE

    George E. Peterson

    2008-01-01

    Raising capital to finance urban infrastructure is a challenge. One solution is to 'unlock' urban land values - such as by selling public lands to capture the gains in value created by investment in infrastructure projects. Land-based financing techniques are playing an increasingly important role in financing urban infrastructure in developing countries. They complement other capital fina...

  16. Availability of healthier options in traditional and nontraditional rural fast-food outlets

    OpenAIRE

    Creel, Jennifer S; Sharkey, Joseph R; McIntosh, Alex; Anding, Jenna; Huber, J Charles

    2008-01-01

    Abstract Background Food prepared away from home has become increasingly popular to U.S. families, and may contribute to obesity. Sales have been dominated by fast food outlets, where meals are purchased for dining away from home or in the home. Although national chain affiliated fast-food outlets are considered the main source for fast food, fast foods are increasingly available in convenience stores and supermarkets/grocery stores. In rural areas, these nontraditional fast-food outlets may ...

  17. Coping with the energy crisis: Impact assessment and potentials of non-traditional renewable energy in rural Kyrgyzstan

    International Nuclear Information System (INIS)

    Liu, Melisande F.M.; Pistorius, Till

    2012-01-01

    The Kyrgyz energy sector is characterised by a dramatic energy crisis that has deprived a substantial part of the population from access to energy. Non-traditional renewable energy sources have emerged as a promising alternative in providing basic energy services to the rural poor. Based on qualitative interview data from local households and project planners, this study sets out to assess impacts, limitations and barriers of non-traditional renewable energy projects in rural areas in Kyrgyzstan. This study argues that recent renewable energy efforts from multilateral international agencies, the private sector, and nongovernmental organisations exhibit great potential in creating tangible benefits and improving basic energy services, but have so far been inefficient in establishing and replicating sustainable and long-term energy solutions. Existing practices need to be improved by attaching greater importance to the capacities and real needs of the rural poor. The guidance of integrated programmes and policies along with alternative financing schemes and awareness-raising are urgently needed to leverage local success stories and to facilitate a sustainable energy development in rural Kyrgyzstan. - Highlights: ► We examine 11 rural households and 5 project planners in rural Kyrgyzstan. ► We assess impacts of non-traditional renewable energies compared with conventional fuels. ► Renewable energies exhibit a range of tangible benefits for rural users. ► Limitations concern performance, durability, repair, acceptance, finance and policy. ► Renewable energy is a promising alternative for rural households in Kyrgyzstan.

  18. Financing the Electronic Library: Models and Options.

    Science.gov (United States)

    Waters, Richard L.; Kralisz, Victor Frank

    1981-01-01

    Places the cost considerations associated with public library automation in a framework of public finance comfortable to most administrators, discusses the importance of experience with use patterns in the electronic library in opening up new and innovative financing methods, and stresses the role of the library in the information industry. (JL)

  19. 12 CFR 221.119 - Applicability of plan-lender provisions to financing of stock options and stock purchase rights...

    Science.gov (United States)

    2010-01-01

    ... experience that in some nonqualified plans, particularly stock purchase plans, the credit arrangement is... financing of stock options and stock purchase rights qualified or restricted under Internal Revenue Code... PURCHASING OR CARRYING MARGIN STOCK (REGULATION U) Interpretations § 221.119 Applicability of plan-lender...

  20. Low demand for nontraditional cookstove technologies.

    Science.gov (United States)

    Mobarak, Ahmed Mushfiq; Dwivedi, Puneet; Bailis, Robert; Hildemann, Lynn; Miller, Grant

    2012-07-03

    Biomass combustion with traditional cookstoves causes substantial environmental and health harm. Nontraditional cookstove technologies can be efficacious in reducing this adverse impact, but they are adopted and used at puzzlingly low rates. This study analyzes the determinants of low demand for nontraditional cookstoves in rural Bangladesh by using both stated preference (from a nationally representative survey of rural women) and revealed preference (assessed by conducting a cluster-randomized trial of cookstove prices) approaches. We find consistent evidence across both analyses suggesting that the women in rural Bangladesh do not perceive indoor air pollution as a significant health hazard, prioritize other basic developmental needs over nontraditional cookstoves, and overwhelmingly rely on a free traditional cookstove technology and are therefore not willing to pay much for a new nontraditional cookstove. Efforts to improve health and abate environmental harm by promoting nontraditional cookstoves may be more successful by designing and disseminating nontraditional cookstoves with features valued more highly by users, such as reduction of operating costs, even when those features are not directly related to the cookstoves' health and environmental impacts.

  1. Innovative Financing of Higher Education: Changing Options and Implications

    Science.gov (United States)

    Panigrahi, Jinusha

    2018-01-01

    With the onset of new public management, there is a shift in the methods of financing of higher education institutions across the countries of the world, particularly emerging market economies, from public financing to private financing of higher education. Many countries adopted this shift very quickly while others have moved towards a gradual…

  2. Nontraditional machining processes research advances

    CERN Document Server

    2013-01-01

    Nontraditional machining employs processes that remove material by various methods involving thermal, electrical, chemical and mechanical energy or even combinations of these. Nontraditional Machining Processes covers recent research and development in techniques and processes which focus on achieving high accuracies and good surface finishes, parts machined without burrs or residual stresses especially with materials that cannot be machined by conventional methods. With applications to the automotive, aircraft and mould and die industries, Nontraditional Machining Processes explores different aspects and processes through dedicated chapters. The seven chapters explore recent research into a range of topics including laser assisted manufacturing, abrasive water jet milling and hybrid processes. Students and researchers will find the practical examples and new processes useful for both reference and for developing further processes. Industry professionals and materials engineers will also find Nontraditional M...

  3. Financing medical office buildings.

    Science.gov (United States)

    Blake, J W

    1995-01-01

    This article discusses financing medical office buildings. In particular, financing and ownership options from a not-for-profit health care system perspective are reviewed, including use of tax-exempt debt, taxable debt, limited partnerships, sale, and real estate investment trusts (REITs).

  4. Nontraditional renewable energy sources

    International Nuclear Information System (INIS)

    Shpil'rajn, Eh.Eh.

    1997-01-01

    The paper considers the application possibilities of nontraditional renewable energy sources to generate electricity, estimates the potential of nontraditional sources using energy of Sun, wind, biomass, as well as, geothermal energy and presents the results of economical analysis of cost of electricity generated by solar electrical power plants, geothermal and electrical plants and facilities for power reprocessing of biomass. 1 tab

  5. Residential Solar Photovoltaics: Comparison of Financing Benefits, Innovations, and Options

    Energy Technology Data Exchange (ETDEWEB)

    Speer, B.

    2012-10-01

    This report examines relatively new, innovative financing methods for residential photovoltaics (PV) and compares them to traditional self-financing. It provides policymakers with an overview of the residential PV financing mechanisms, describes relative advantages and challenges, and analyzes differences between them where data is available. Because these innovative financing mechanisms have only been implemented in a few locations, this report can inform their wider adoption.

  6. Conference reports: Innovative financing options in the petroleum industry

    International Nuclear Information System (INIS)

    1998-01-01

    Financing oil and natural gas ventures was the principal theme of this conference. Individual topics included private placements, flow-through shares, strategies and tactics in structuring equity offerings, the use of income trusts as a vehicle for monetizing pipeline assets, strategies for accessing the U.S. equity market, project financing, and royalty financing. In some cases only viewgraphs and figures have been made available. Biographical notes on contributors also have been provided

  7. Romanian SMEs Financing Options:

    Directory of Open Access Journals (Sweden)

    Ioan E. Nistor

    2013-11-01

    Full Text Available One of the most pressing problems faced by micro, small and medium sized enterprises (henceforth SMEs in Europe is the access to sufficient funds to sustain their long term growth. Romanian SMEs make no exception. In this context the present paper focuses on analyzing the extent to which external funding sources have contributed to the value added created by the Romanian SMEs between 2007 and 2011.The investigation’s results indicate the existence of a causal link between some forms of external financing (namely bank loans, leasing, factoring, guarantee products and European funds and the value added created by the Romanian micro, small and medium sized enterprises in the aforementioned period.

  8. Financing options and economic impact: distributed generation using solar photovoltaic systems in Normal, Illinois

    Directory of Open Access Journals (Sweden)

    Jin H. Jo

    2016-04-01

    Full Text Available Due to increasing price volatility in fossil-fuel-produced energy, the demand for clean, renewable, and abundant energy is more prevalent than in past years. Solar photovoltaic (PV systems have been well documented for their ability to produce electrical energy while at the same time offering support to mitigate the negative externalities associated with fossil fuel combustion. Prices for PV systems have decreased over the past few years, however residential and commercial owners may still opt out of purchasing a system due to the overall price required for a PV system installation. Therefore, determining optimal financing options for residential and small-scale purchasers is a necessity. We report on payment methods currently used for distributed community solar projects throughout the US and suggest appropriate options for purchasers in Normal, Illinois given their economic status. We also examine the jobs and total economic impact of a PV system implementation in the case study area.

  9. Financing Distributed Generation

    International Nuclear Information System (INIS)

    Walker, A.

    2001-01-01

    This paper introduces the engineer who is undertaking distributed generation projects to a wide range of financing options. Distributed generation systems (such as internal combustion engines, small gas turbines, fuel cells and photovoltaics) all require an initial investment, which is recovered over time through revenues or savings. An understanding of the cost of capital and financing structures helps the engineer develop realistic expectations and not be offended by the common requirements of financing organizations. This paper discusses several mechanisms for financing distributed generation projects: appropriations; debt (commercial bank loan); mortgage; home equity loan; limited partnership; vendor financing; general obligation bond; revenue bond; lease; Energy Savings Performance Contract; utility programs; chauffage (end-use purchase); and grants. The paper also discusses financial strategies for businesses focusing on distributed generation: venture capital; informal investors (''business angels''); bank and debt financing; and the stock market

  10. Corporate finance in an interest free economy: An alternate approach to practiced Islamic Corporate Finance

    OpenAIRE

    Shaikh, Salman

    2009-01-01

    This paper suggests an alternate approach to corporate finance in an interest free economy by looking beyond practiced Islamic finance and suggesting alternatives for corporate finance in sourcing funds i.e. i) Ijara with embedded options, ii) limited liability partnership, iii) equity modes like Musharakah and Mudarabah iv) income bonds and v) convertible income bonds. It also suggests alternatives for corporate finance in using funds i.e. i) Islamic income funds, ii) Islamic REITs, iii) Tre...

  11. Innovative financing for health: what are the options for South Africa?

    Directory of Open Access Journals (Sweden)

    Robert J. Fryatt

    2012-10-01

    Full Text Available The paper assesses the options for additional innovative financing that could be considered in South Africa, covering both raising new funds and linking funds to results. New funds could come from: i the private sector, including the mining and mobile phone industry; ii from voluntary sources, through charities and foundations; iii and through further expanding health (sin levies on products such as tobacco, alcohol and unhealthy food and drinks. As in other countries, South Africa could earmark some of these additional sources for investment in interventions and research to reduce unhealthy behaviors and influence the determinants of health. South Africa could also expand innovative linking of funds to improve overall performance of the health sector, including mitigating the risks for non-state investment and exploring different forms of financial incentives for providers and patients. All such innovations would require rigorous monitoring and evaluation to assess whether intended benefits are achieved and to look for unintended consequences.

  12. Financing Distributed Generation

    Energy Technology Data Exchange (ETDEWEB)

    Walker, A.

    2001-06-29

    This paper introduces the engineer who is undertaking distributed generation projects to a wide range of financing options. Distributed generation systems (such as internal combustion engines, small gas turbines, fuel cells and photovoltaics) all require an initial investment, which is recovered over time through revenues or savings. An understanding of the cost of capital and financing structures helps the engineer develop realistic expectations and not be offended by the common requirements of financing organizations. This paper discusses several mechanisms for financing distributed generation projects: appropriations; debt (commercial bank loan); mortgage; home equity loan; limited partnership; vendor financing; general obligation bond; revenue bond; lease; Energy Savings Performance Contract; utility programs; chauffage (end-use purchase); and grants. The paper also discusses financial strategies for businesses focusing on distributed generation: venture capital; informal investors (''business angels''); bank and debt financing; and the stock market.

  13. Solar Schools Assessment and Implementation Project: Financing Options for Solar Installations on K-12 Schools

    Energy Technology Data Exchange (ETDEWEB)

    Coughlin, J.; Kandt, A.

    2011-10-01

    This report focuses on financial options developed specifically for renewable energy and energy efficiency projects in three California public school districts. Solar energy systems installed on public schools have a number of benefits that include utility bill savings, reductions in greenhouse gas emissions (GHGs) and other toxic air contaminants, job creation, demonstrating environmental leadership, and creating learning opportunities for students. In the 2011 economic environment, the ability to generate general-fund savings as a result of reducing utility bills has become a primary motivator for school districts trying to cut costs. To achieve meaningful savings, the size of the photovoltaic (PV) systems installed (both individually on any one school and collectively across a district) becomes much more important; larger systems are required to have a material impact on savings. Larger PV systems require a significant financial commitment and financing therefore becomes a critical element in the transaction. In simple terms, school districts can use two primary types of ownership models to obtain solar installations and cost savings across a school district. The PV installations can be financed and owned directly by the districts themselves. Alternatively, there are financing structures whereby another entity, such as a solar developer or its investors, actually own and operate the PV systems on behalf of the school district. This is commonly referred to as the 'third-party ownership model.' Both methods have advantages and disadvantages that should be weighed carefully.

  14. Practice Location Characteristics of Non-Traditional Dental Practices.

    Science.gov (United States)

    Solomon, Eric S; Jones, Daniel L

    2016-04-01

    Current and future dental school graduates are increasingly likely to choose a non-traditional dental practice-a group practice managed by a dental service organization or a corporate practice with employed dentists-for their initial practice experience. In addition, the growth of non-traditional practices, which are located primarily in major urban areas, could accelerate the movement of dentists to those areas and contribute to geographic disparities in the distribution of dental services. To help the profession understand the implications of these developments, the aim of this study was to compare the location characteristics of non-traditional practices and traditional dental practices. After identifying non-traditional practices across the United States, the authors located those practices and traditional dental practices geographically by zip code. Non-traditional dental practices were found to represent about 3.1% of all dental practices, but they had a greater impact on the marketplace with almost twice the average number of staff and annual revenue. Virtually all non-traditional dental practices were located in zip codes that also had a traditional dental practice. Zip codes with non-traditional practices had significant differences from zip codes with only a traditional dental practice: the populations in areas with non-traditional practices had higher income levels and higher education and were slightly younger and proportionally more Hispanic; those practices also had a much higher likelihood of being located in a major metropolitan area. Dental educators and leaders need to understand the impact of these trends in the practice environment in order to both prepare graduates for practice and make decisions about planning for the workforce of the future.

  15. Pricing and Applications of Digital Installment Options

    Directory of Open Access Journals (Sweden)

    Pierangelo Ciurlia

    2012-01-01

    Full Text Available For its theoretical interest and strong impact on financial markets, option valuation is considered one of the cornerstones of contemporary mathematical finance. This paper specifically studies the valuation of exotic options with digital payoff and flexible payment plan. By means of the Incomplete Fourier Transform, the pricing problem is solved in order to find integral representations of the upfront price for European call and put options. Several applications in the areas of corporate finance, insurance, and real options are discussed. Finally, a new type of digital derivative named supercash option is introduced and some payment schemes are also presented.

  16. Physicochemical changes in nontraditional pasta during cooking

    Science.gov (United States)

    Changes in biochemical components of non-traditional spaghetti during cooking were reflected in the quality of the cooked product. Spaghetti samples were made from traditional and non-traditional formulations including semolina 100%, whole wheat flour 100%, semolina-whole wheat flour (49:51), semol...

  17. EnergySmart Schools National Financing Roundtable II—Key Outcomes

    Energy Technology Data Exchange (ETDEWEB)

    None

    2009-11-01

    As a follow-up to the release of its Guide to Financing EnergySmart Schools, the the National Financing Roundtable brought together individuals with diverse knowledge of school building programs and projects to discuss financing issues and options that build upon those described in the first Guide to Financing EnergySmart Schools.

  18. Role Model Influencers of Nontraditional Professional Women.

    Science.gov (United States)

    Lunneborg, Patricia W.

    1982-01-01

    Tested the influence of a supportive family on 142 women employed in or studying for nontraditional careers. Results showed the importance of emotional support by parents, siblings, peers and teachers. Suggests counselors encourage women to locate role models and mentors if preparing for nontraditional careers. (Author/JAC)

  19. 78 FR 33757 - Rural Determination and Financing Percentage

    Science.gov (United States)

    2013-06-05

    ... Agency for determining what percentage of a project is eligible for RUS financing if the Rural Percentage... defined as rural. As the Agency investigates financing options for projects owned by entities other than... inability to fund 100 percent of the financing needs of a given project has undermined the Agency's effort...

  20. Non-Power Purchase Agreement (PPA) Options for Financing Solar Deployment at Universities

    Energy Technology Data Exchange (ETDEWEB)

    2016-10-01

    Financing solar using power purchase agreements (PPAs) has facilitated solar deployment of more than 100 megawatts (MW) at universities--as compared to 50 MW facilitated by financing models not using PPAs. This brochure, which overviews existing financing models and funding mechanisms available for solar procurement, focuses on non-PPA financing models. For more information on solar deployment at universities using PPAs, refer to Using Power Purchase Agreements for Solar Deployment at Universities.

  1. The financing of new mining ventures

    International Nuclear Information System (INIS)

    Etheredge, D.A.; Lilja, J.R.

    1983-01-01

    Various options are presented for tackling the problem in mining today of the high capital costs required for a new mine combined with the front end exposure that the exploiters face. Equity finance from the producers, private investors, oil companies, consumers and governments is discussed as well as loan finance from export credit agencies, international agencies, production-related loans, leasing and commercial bank loans. The future in financing mining is outlined and it is proposed that the future will lie in smaller projects financed primarily with equity. (U.K.)

  2. Mortgage Finance and Security of Collateral

    DEFF Research Database (Denmark)

    Haldrup, Karin

    2011-01-01

    Developing economies face a gigantic lack of financing for urbanization due to the absence of formal and transparent property markets. The paper discuss the interference between mortgage finance and collateral security by using the Danish mortgage financing model as an example, because of its 200...... years long history, and because the system is recommended as an option in emerging markets and as a possible model for remedying failures in mature housing finance markets. It is suggested that development policies in land administration need to be revised in order to support a widening of credit...

  3. How to choose the right capitalization option.

    Science.gov (United States)

    Vaughan, J; Wise, J

    1996-12-01

    Physician group practices and networks must have ready access to capital to finance their working capital needs, capital equipment acquisitions, and real estate purchases, as well as to fund the acquisition of additional practices. At least three options for capitalization are available to group practices and networks: debt financing, equity financing, or a combination of the two. The best option for physician group practices and networks depends on the costs of capital and the impact the strategy will have on decision making and governance.

  4. Clean Energy Financing Programs: A Decision Resource for States and Communities

    Science.gov (United States)

    Describes financing-program options, key components of financing programs, and factors for states and communities to consider as they make decisions about getting started or updating their clean energy financing programs.

  5. Financing Alternatives Comparison Tool

    Science.gov (United States)

    FACT is a financial analysis tool that helps identify the most cost-effective method to fund a wastewater or drinking water management project. It produces a comprehensive analysis that compares various financing options.

  6. Essays in corporate finance and financial intermediation

    NARCIS (Netherlands)

    Kempf, Elisabeth

    2016-01-01

    This thesis consists of three chapters in corporate finance and financial intermediation. The first two chapters explore sources of incentives and learning for finance professionals. Specifically, the first chapter studies how the option to go work for an investment bank affects the incentives of

  7. International energy financing

    International Nuclear Information System (INIS)

    Vedavalli, Rangaswamy

    1994-01-01

    Some of the innovative financing options being considered by developing countries and economies in transition as ways of mobilizing international energy financing are discussed. Build-Own-Operate (BOO) and Transfer (BOOT) is the most commonly adopted approach. This involves limited resource financing of a project on the basis of the associated cash flow and risks and not on the credit of the project owners. The World Bank has set up the Multilateral Investment Guarantee Agency to provide, on a fee basis, guarantees against certain non-commercial forms of risk in order to promote international capital flow to developing countries. In 1989, the World Bank introduced the Expanded Co-financing Operations (ECO) programme as an instrument to catalyze the flow of private finance into developing countries and to improve their access to international financial markets. Other financial instruments currently being established include: leasing of equipment or whole plants by foreign investors; private ownership or operation of generation and distribution facilities; exchange of specific export goods for energy imports; developing instruments to finance local costs; revenue bonds; tax-exempt bonds; sale of electricity futures to those seeking more stable, longer term electricity price contracts. (UK)

  8. Project finance and international energy development

    International Nuclear Information System (INIS)

    Pollio, G.

    1998-01-01

    This paper explores the preference for and the features unique to project finance, one of the favoured vehicles for funding energy development. Our main focus is on the interests of project sponsors, commercial banks and host governments. Inclusion of the latter reflects the fact host governments are often leading participants in primary energy and energy-related projects; more recently, they have come to use limited recourse structures to finance local infrastructure development. Traditional analyses, whilst providing useful insights into the interests of leading project participants, are incapable of isolation a single motive or set of motives that can comprehensively account for all of the features common to this form of debt. Within an options-theoretic framework, most of these ambiguities are resolved. Risk management, long recognised as one of the primary reasons for choosing project finance over rival debt structures, is affirmed as a key explanatory factor. One the other hand, options pricing theory provides a radically different perspective on how to project finance contributes to the realisation of these objectives. (author)

  9. Stressors of college: a comparison of traditional and nontraditional students.

    Science.gov (United States)

    Dill, P L; Henley, T B

    1998-01-01

    Perceived stress and stressors of nontraditional (returning-adult) and traditional college students were compared. Forty-seven nontraditional students 24-54 years old and 47 traditional students, matched for demographics, completed the Adolescent Perceived Events Scale (Compas, Davis, Forsythe, & Wagner, 1987) for college students. They rated 210 life events according to the desirability, impact, and frequency of the events. Significant differences were found between the nontraditional and traditional students for events in the following categories: academics, peer and social relations, family and network, autonomy and responsibility, and intimacy. Nontraditional students enjoyed going to classes and doing homework more, whereas traditional students worried more about school performance. Peer events, including social activities, had much more impact on traditional students, whereas nontraditional students reported much more responsibility in the home. The results suggest that there are significant differences between the groups in their perceptions of stressors.

  10. Nontraditional family romance.

    Science.gov (United States)

    Corbett, K

    2001-07-01

    Family stories lie at the heart of psychoanalytic developmental theory and psychoanalytic clinical technique, but whose family? Increasingly, lesbian and gay families, multiparent families, and single-parent families are relying on modern reproductive technologies to form families. The contemplation of these nontraditional families and the vicissitudes of contemporary reproduction lead to an unknowing of what families are, including the ways in which psychoanalysts configure the family within developmental theory. This article focuses on the stories that families tell in order to account for their formation--stories that include narratives about parental union, parental sexuality, and conception. The author addresses three constructs that inform family stories and that require rethinking in light of the category crises posed by and for the nontraditional family: (1) normative logic, (2) family reverie and the construction of a family romance, and (3) the primal scene. These constructs are examined in tandem with detailed clinical material taken from the psychotherapy of a seven-year-old boy and his two mothers.

  11. Increasing revenues for protected areas. A wealth of financing options

    International Nuclear Information System (INIS)

    Verweij, P.

    2004-12-01

    This paper aims at giving an overview of traditional and new financing mechanisms in support of protected areas. The web of life is breaking down: our world is facing biodiversity loss at unprecedented rates. Human impacts are causing the acceleration of species loss, at rates of several hundreds up to 1000 times the natural rate of species extinction, depending on the type of organisms. Habitat degradation and loss, introduction of invasive species, pollution, and overexploitation of resources are factors that determine the process of mass extinction. Protected areas obviously play a critical role in biodiversity conservation. Article 8 of the Convention on Biological Diversity (CBD) obliges Parties to establish a system of protected areas to-conserve biodiversity, to develop guidelines for protected areas management and to promote appropriate development adjacent to protected areas. Besides agreeing on this global mandate for protected areas, through Article 8m of the CBD Parties committed themselves to cooperate in providing financial support for protected area systems: 'Each contracting party (...) shall cooperate in providing financial and other support for in-situ conservation (...) particularly to developing countries'. Current revenues for maintaining existing protected areas and the creation of new ones are insufficient. Annually, approximately USD 7 billion is spent on the creation and maintenance of protected areas around the world (Balmford, 2003). The amount required to adequately protect biodiversity is estimated to be about five times higher. The flow of revenues from traditional and new financing mechanisms should clearly be increased to mitigate the financing deficit for protected areas. As part of the solution, innovative financing mechanisms are being developed aimed at increasing the global revenues for protected areas, thus capturing the multiple values of ecosystem goods and services provided by protected areas to mankind. This scoping paper

  12. Financing nuclear power

    International Nuclear Information System (INIS)

    Sheriffah Noor Khamseah Al-Idid Syed Ahmad Idid

    2009-01-01

    Global energy security and climate change concerns sparked by escalating oil prices, high population growth and the rapid pace of industrialization are fueling the current interest and investments in nuclear power. Globally, a significant number policy makers and energy industry leaders have identified nuclear power as a favorable alternative energy option, and are presently evaluating either a new or an expanded role for nuclear power. The International Atomic Energy Agency (IAEA) has reported that as of October 2008, 14 countries have plans to construct 38 new nuclear reactors and about 100 more nuclear power plants have been written into the development plans of governments for the next three decades. Hence as new build is expected to escalate, issues of financing will become increasingly significant. Energy supply, including nuclear power, considered as a premium by government from the socio-economic and strategic perspective has traditionally been a sector financed and owned by the government. In the case for nuclear power, the conventional methods of financing include financing by the government or energy entity (utility or oil company) providing part of the funds from its own resources with support from the government. As national financing is, as in many cases, insufficient to fully finance the nuclear power plants, additional financing is sourced from international sources of financing including, amongst others, Export Credit Agencies (ECAs) and Multilateral Development Institutions. However, arising from the changing dynamics of economics, financing and business model as well as increasing concerns regarding environmental degradation , transformations in methods of financing this energy sector has been observed. This paper aims to briefly present on financing aspects of nuclear power as well as offer some examples of the changing dynamics of financing nuclear power which is reflected by the evolution of ownership and management of nuclear power plants

  13. Financing small scale wind energy projects in the UK

    International Nuclear Information System (INIS)

    Mitchell, Catherine

    1993-01-01

    This paper shows how wind energy projects in the UK have obtained finance. It attempts to list the financing options open to small scale developments and to note any likely problems which may occur. (UK)

  14. Work-Family Interface for Men in Nontraditional Careers

    Science.gov (United States)

    Jackson, Z. Vance; Wright, Stephen L.; Perrone-McGovern, Kristin M.

    2010-01-01

    Men are choosing to enter nontraditional careers with greater frequency. In this article, the authors examine nontraditional career choices made by men and review current empirical literature relevant to this topic. Gottfredson's (1981, 1996) theory of circumscription and compromise and Holland's (1997) career choice theory are used as frameworks…

  15. Strategies for financing energy projects in East Central Europe

    Energy Technology Data Exchange (ETDEWEB)

    Fortino, S.E. [Texaco Inc., White Plains, NY (United States)

    1995-12-01

    This paper discusses financing options available for energy (power/steam) projects in East Central Europe. It is intended to be an overview and practical guide to such options in today`s environment. A survey is made of the principal multilateral and other financial institutions providing funding and/or credit support in the region. These include the European Bank for Reconstruction and Development, the World Bank, the International Finance Corporation, the export credit agencies, and the commercial banks. Specific guarantee and other support mechanisms which some of these institutions provide are covered, including the latest developments. In addition to loan financing, potential sources of equity financing are discussed. Next, a description of the credit rating process by such institutions as Standard and Poor`s, and an example of a successful rating effort in the Czech Republic, lead into a discussion of accessing foreign and domestic bond markets to finance energy projects in the region.

  16. A fuzzy logic approach toward solving the analytic enigma of health system financing.

    Science.gov (United States)

    Chernichovsky, Dov; Bolotin, Arkady; de Leeuw, David

    2003-09-01

    Improved health, equity, macroeconomic efficiency, efficient provision of care, and client satisfaction are the common goals of any health system. The relative significance of these goals varies, however, across nations, communities and with time. As for health care finance, the attainment of these goals under varying circumstances involves alternative policy options for each of the following elements: sources of finance, allocation of finance, payment to providers, and public-private mix. The intricate set of multiple goals, elements and policy options defies human reasoning, and, hence, hinders effective policymaking. Indeed, "health system finance" is not amenable to a clear set of structural relationships. Neither is there a universe that can be subject to statistical scrutiny: each health system is unique. "Fuzzy logic" models human reasoning by managing "expert knowledge" close to the way it is handled by human language. It is used here for guiding policy making by a systematic analysis of health system finance. Assuming equal welfare weights for alternative goals and mutually exclusive policy options under each health-financing element, the exploratory model we present here suggests that a German-type health system is best. Other solutions depend on the welfare weights for system goals and mixes of policy options.

  17. Complications in financing new nuclear power plants

    International Nuclear Information System (INIS)

    Rubow, L.; Bataklieva, L.

    2011-01-01

    Historical Financing Approach; Recent Financing Complexities; Typical NPP Project Structure; Project Funding; Technical Developments; Financing Drivers; Conflicting Goals; Different Motivation/ Values: Public vs. Private and other financial aspects are discussed. Some suggestions for consideration are given, such as: Stronger involvement of Government. Stronger involvement of off takers as investors: – Large industrial entities – Utilities/ Distribution companies – Smaller, aggregated industrial entities. Return to corporate finance model (e.g. balance sheet based on existing operating assets), More creative BOO(T) structures, EPCM project execution structures; Better communication with outside stake holders, i.e., why nuclear is best option

  18. Essays in technology adoption and corporate finance

    OpenAIRE

    Patel, Pratish

    2013-01-01

    This dissertation consists of three chapters that concern technology adoption and corporate finance. The first chapter analyzes the optimal investment strategy of two firms confronted with the option to adopt a new technology. The second chapter analyzes the link between debt maturity and term spread. The third chapter analyzes the role of debt financing on skyscraper heights.

  19. Carbon finance options in renewable energy

    International Nuclear Information System (INIS)

    Nahar, P.

    2010-01-01

    The Kyoto Protocol splits the world into two categories, notably Annex 1 with binding targets; and non-Annex 1 without any binding targets. This presentation discussed the Kyoto Protocol, with particular reference to the flexibility mechanisms which allow countries to achieve their emission targets in a cost effective way through emission trading, joint implementation, or clean development mechanisms (CDM). The CDM was outlined in detail in terms of how it works. The CDM key concepts include baseline use, additionality, and monitoring. Reasons for risk and CDM renewable energy projects were also outlined. Other topics that were presented included the impact of carbon finance; United States federal climate policy; European Union policy; EVO structured carbon; portfolio management; and EVO structured carbon. tabs., figs.

  20. The influence of nontraditional training modalities on physical performance: review of the literature.

    Science.gov (United States)

    O'Hara, Reginald B; Serres, Jennifer; Traver, Kyle L; Wright, Bruce; Vojta, Chris; Eveland, Ed

    2012-10-01

    The primary purpose of this effort was to review several forms of nontraditional (NT) training programs, including heavy lower extremity strength training, CrossFit training, kettlebell training, and agility training, and discuss the effects of these exercise regimens on physical performance. The secondary purpose was to evaluate NT fitness training programs for evidence that they may provide beneficial options to help airmen improve their fitness scores. A search of the literature for 1980-2010 was performed using the Franzello Aeromedical Library, Public Medicine, and Air Force Institute of Technology search engines. There were 50 articles located and the authors selected 29 articles that specifically addressed the primary and secondary purposes of this literature review. This review indicates that an NT training approach is warranted in the general Air Force population. Heavy leg strength training and agility training show promise in enhancing aerobic fitness and improving fitness scores, particularly among members who have difficulty passing a physical fitness test. Most of the nontraditional forms of physical training are not supported in the scientific literature, with the exception of heavy leg strength training and agility training. However, even these NT forms of training require further investigation.

  1. Non-Traditional Wraps

    Science.gov (United States)

    Owens, Buffy

    2009-01-01

    This article presents a recipe for non-traditional wraps. In this article, the author describes how adults and children can help with the recipe and the skills involved with this recipe. The bigger role that children can play in the making of the item the more they are apt to try new things and appreciate the texture and taste.

  2. Staged Financing in Venture capital market.

    OpenAIRE

    Damania, Priti

    2009-01-01

    The report shows the venture capital decision making in staged financing from a real option perspective. The report also describes entrepreneur-venture capital relationship from a prisoner's dilemma approach.

  3. Assessment of Energy Efficiency Project Financing Alternatives for Brookhaven National Laboratory

    Energy Technology Data Exchange (ETDEWEB)

    Hunt, W. D.; Hail, John C.; Sullivan, Gregory P.

    2000-02-14

    This document provides findings and recommendations that resulted from an assessment of the Brookhaven National Laboratory by a team from Pacific Northwest National Laboratory to assess the site's potential for various alternative financing options as a means to implement energy-efficiency improvements. The assessment looked for life-cycle cost-effective energy-efficiency improvement opportunities, and through a series of staff interviews, evaluated the various methods by which these opportunities may be financed, while considering availability of funds, staff, and available financing options. This report summarizes the findings of the visit and the resulting recommendations.

  4. India's Health Initiative: Financing Issues and Options

    OpenAIRE

    Deolalikar, Anil B.; Jamison, Dean T.; Laxminarayan, Ramanan

    2007-01-01

    In response to the challenge of sustaining the health gains achieved in the better-performing states and ensuring that the lagging states catch up with the rest of the country, the Indian government has launched the National Rural Health Mission. A central goal of the effort is to increase public spending on health from the current 1.1 percent of GDP to roughly 2–3 percent of GDP within the next five years. In this paper, we examine the current status of health financing in India, as well as ...

  5. Commodities, energy and environmental finance

    CERN Document Server

    Ludkovski, Michael; Sircar, Ronnie

    2015-01-01

    This volume is a collection of chapters covering the latest developments in applications of financial mathematics and statistics to topics in energy, commodity financial markets and environmental economics. The research presented is based on the presentations and discussions that took place during the Fields Institute Focus Program on Commodities, Energy and Environmental Finance in August 2013. The authors include applied mathematicians, economists and industry practitioners, providing for a multi-disciplinary spectrum of perspectives on the subject. The volume consists of four sections: Electricity Markets; Real Options; Trading in Commodity Markets; and Oligopolistic Models for Energy Production. Taken together, the chapters give a comprehensive summary of the current state of the art in quantitative analysis of commodities and energy finance. The topics covered include structural models of electricity markets, financialization of commodities, valuation of commodity real options, game-theory analysis of ...

  6. Overcoming SMEs Financing and Supply Chain Obstacles by Introducing Supply Chain Finance

    Directory of Open Access Journals (Sweden)

    Abbasi Waseem Ahmed

    2018-05-01

    Full Text Available Keeping in view the importance of small and medium enterprises (SMEs for the growth of a nation, we must also keep an eye on the challenges faced by those SMEs. There are various kinds of financing and supply chain options available for SMEs but they still face lot of hindrances. This paper would help us to understand why SMEs are important for the development of any country and how could we help the SMEs from facing challenges related to financing and supply chain. This study further highlights the key financing issues faced by SMEs and also focuses on major supply chain challenges confronted by the SMEs. This study put emphasis on the concept of supply chain finance (SCF and that how SCF could help SMEs to overcome those challenges. In addition, this paper also points out the benefits and prospects of SMEs. Even though the concept of SCF is still in developing phase but it has shown significant assistance to SMEs in order to grow further.

  7. Equity in Irish health care financing: measurement issues.

    Science.gov (United States)

    Smith, Samantha

    2010-04-01

    This paper employs widely used analytic techniques for measuring equity in health care financing to update Irish results from previous analysis based on data from the late 1980s. Kakwani indices are calculated using household survey data from 1987/88 to 2004/05. Results indicate a marginally progressive financing system overall. However, interpretation of the results for the private sources of health financing is complicated. This problem is not unique to Ireland but it is argued that it may be relatively more important in the context of a complex health financing system, illustrated in this paper by the Irish system. Alternative options for improving the analysis of equity in health care financing are discussed.

  8. Information Systems for Nontraditional Study; The State-Of-The-Art.

    Science.gov (United States)

    Richards, Berry; Oakey, Joseph H.

    The information systems of nontraditional education are examined. Case studies illustrate the variation in nontraditional programs: Open University of Pennsylvania, British Open University, Prince George's County Library (Maryland), University Without Walls--Skidmore, Empire State College--Saratoga, Minnesota Metropolitan State College, and…

  9. Bounds for Asian basket options

    Science.gov (United States)

    Deelstra, Griselda; Diallo, Ibrahima; Vanmaele, Michèle

    2008-09-01

    In this paper we propose pricing bounds for European-style discrete arithmetic Asian basket options in a Black and Scholes framework. We start from methods used for basket options and Asian options. First, we use the general approach for deriving upper and lower bounds for stop-loss premia of sums of non-independent random variables as in Kaas et al. [Upper and lower bounds for sums of random variables, Insurance Math. Econom. 27 (2000) 151-168] or Dhaene et al. [The concept of comonotonicity in actuarial science and finance: theory, Insurance Math. Econom. 31(1) (2002) 3-33]. We generalize the methods in Deelstra et al. [Pricing of arithmetic basket options by conditioning, Insurance Math. Econom. 34 (2004) 55-57] and Vanmaele et al. [Bounds for the price of discrete sampled arithmetic Asian options, J. Comput. Appl. Math. 185(1) (2006) 51-90]. Afterwards we show how to derive an analytical closed-form expression for a lower bound in the non-comonotonic case. Finally, we derive upper bounds for Asian basket options by applying techniques as in Thompson [Fast narrow bounds on the value of Asian options, Working Paper, University of Cambridge, 1999] and Lord [Partially exact and bounded approximations for arithmetic Asian options, J. Comput. Finance 10 (2) (2006) 1-52]. Numerical results are included and on the basis of our numerical tests, we explain which method we recommend depending on moneyness and time-to-maturity.

  10. Nontraditional Student Withdrawal from Undergraduate Accounting Programmes: A Holistic Perspective

    Science.gov (United States)

    Fortin, Anne; Sauvé, Louise; Viger, Chantal; Landry, France

    2016-01-01

    A collaborative project of several Quebec universities, this study investigates nontraditional student withdrawal from undergraduate accounting programmes. A nontraditional student is older than 24, or is a commuter or a part-time student, or combines some of these characteristics. Univariate and multivariate analyses of student dropout factors…

  11. An Appraisal of 'Developer-Finance' Option for the Redevelopment ...

    African Journals Online (AJOL)

    The study revealed, among others, that the use of 'developer finance' in the study area is limited in scope - limited to certain geographical areas, certain categories of properties, and also limited in terms of the scale of development. The study also revealed a number of fundamental but avoidable pitfalls which tend to ...

  12. Financing exponential growth at H3

    OpenAIRE

    Silva, João Ricardo Ferreira Hipolito da

    2012-01-01

    H3 is a fast-food chain that introduced the concept of gourmet hamburgers in the Portuguese market. This case-study illustrates its financing strategy that supported an exponential growth represented by opening 33 restaurants within approximately 3 years of its inception. H3 is now faced with the challenge of structuring its foreign ventures and change its financial approach. The main covered topics are the options an entrepreneur has for financing a new venture and how it evolves along th...

  13. Statistics for Finance

    DEFF Research Database (Denmark)

    Lindström, Erik; Madsen, Henrik; Nielsen, Jan Nygaard

    Statistics for Finance develops students’ professional skills in statistics with applications in finance. Developed from the authors’ courses at the Technical University of Denmark and Lund University, the text bridges the gap between classical, rigorous treatments of financial mathematics...... that rarely connect concepts to data and books on econometrics and time series analysis that do not cover specific problems related to option valuation. The book discusses applications of financial derivatives pertaining to risk assessment and elimination. The authors cover various statistical...... and mathematical techniques, including linear and nonlinear time series analysis, stochastic calculus models, stochastic differential equations, Itō’s formula, the Black–Scholes model, the generalized method-of-moments, and the Kalman filter. They explain how these tools are used to price financial derivatives...

  14. Financing aspects of nuclear power plant construction under Polish economic conditions

    International Nuclear Information System (INIS)

    Besant-Jones, John E.

    1999-01-01

    Within the framework of the new Polish Energy Law the different issues important far financing a programme to develop nuclear power power in Poland such as: economic competitiveness of nuclear power, financing options for nuclear power projects, managing the various risks for financing nuclear power as well as nuclear and business liability are considered. The importance of policy issues is stressed

  15. Financing Strategies for Nuclear Fuel Cycle Facility

    International Nuclear Information System (INIS)

    David Shropshire; Sharon Chandler

    2005-01-01

    To help meet our nation's energy needs, reprocessing of spent nuclear fuel is being considered more and more as a necessary step in a future nuclear fuel cycle, but incorporating this step into the fuel cycle will require considerable investment. This report presents an evaluation of financing scenarios for reprocessing facilities integrated into the nuclear fuel cycle. A range of options, from fully government owned to fully private owned, was evaluated using a DPL (Dynamic Programming Language) 6.0 model, which can systematically optimize outcomes based on user-defined criteria (e.g., lowest life-cycle cost, lowest unit cost). Though all business decisions follow similar logic with regard to financing, reprocessing facilities are an exception due to the range of financing options available. The evaluation concludes that lowest unit costs and lifetime costs follow a fully government-owned financing strategy, due to government forgiveness of debt as sunk costs. Other financing arrangements, however, including regulated utility ownership and a hybrid ownership scheme, led to acceptable costs, below the Nuclear Energy Agency published estimates. Overwhelmingly, uncertainty in annual capacity led to the greatest fluctuations in unit costs necessary for recovery of operating and capital expenditures; the ability to determine annual capacity will be a driving factor in setting unit costs. For private ventures, the costs of capital, especially equity interest rates, dominate the balance sheet; the annual operating costs dominate the government case. It is concluded that to finance the construction and operation of such a facility without government ownership could be feasible with measures taken to mitigate risk, and that factors besides unit costs should be considered (e.g., legal issues, social effects, proliferation concerns) before making a decision on financing strategy

  16. From Statehouse to Schoolhouse: Education Finance Apportionment Systems in the United States

    Science.gov (United States)

    Verstegen, Deborah A.; Knoeppel, Robert C.

    2012-01-01

    This research investigates state finance policies for public elementary and secondary education using survey methodology. The purpose is to update the existing knowledge base in the field as well as to provide a compendium of finance and policy options that are being used across the states to finance school for lawmakers, educators and others.…

  17. The Black-Scholes option pricing problem in mathematical finance: generalization and extensions for a large class of stochastic processes

    Science.gov (United States)

    Bouchaud, Jean-Philippe; Sornette, Didier

    1994-06-01

    The ability to price risks and devise optimal investment strategies in thé présence of an uncertain "random" market is thé cornerstone of modern finance theory. We first consider thé simplest such problem of a so-called "European call option" initially solved by Black and Scholes using Ito stochastic calculus for markets modelled by a log-Brownien stochastic process. A simple and powerful formalism is presented which allows us to generalize thé analysis to a large class of stochastic processes, such as ARCH, jump or Lévy processes. We also address thé case of correlated Gaussian processes, which is shown to be a good description of three différent market indices (MATIF, CAC40, FTSE100). Our main result is thé introduction of thé concept of an optimal strategy in the sense of (functional) minimization of the risk with respect to the portfolio. If the risk may be made to vanish for particular continuous uncorrelated 'quasiGaussian' stochastic processes (including Black and Scholes model), this is no longer the case for more general stochastic processes. The value of the residual risk is obtained and suggests the concept of risk-corrected option prices. In the presence of very large deviations such as in Lévy processes, new criteria for rational fixing of the option prices are discussed. We also apply our method to other types of options, `Asian', `American', and discuss new possibilities (`doubledecker'...). The inclusion of transaction costs leads to the appearance of a natural characteristic trading time scale. L'aptitude à quantifier le coût du risque et à définir une stratégie optimale de gestion de portefeuille dans un marché aléatoire constitue la base de la théorie moderne de la finance. Nous considérons d'abord le problème le plus simple de ce type, à savoir celui de l'option d'achat `européenne', qui a été résolu par Black et Scholes à l'aide du calcul stochastique d'Ito appliqué aux marchés modélisés par un processus Log

  18. Nontraditional Therapies (Traditional Chinese Veterinary Medicine and Chiropractic) in Exotic Animals.

    Science.gov (United States)

    Marziani, Jessica A

    2018-05-01

    The nontraditional therapies of Traditional Chinese Veterinary Medicine and chiropractic care are adjunct treatments that can be used in conjunction with more conventional therapies to treat a variety of medical conditions. Nontraditional therapies do not need to be alternatives to Western medicine but, instead, can be used simultaneously. Exotic animal practitioners should have a basic understanding of nontraditional therapies for both client education and patient referral because they can enhance the quality of life, longevity, and positive outcomes for various cases across multiple taxa. Copyright © 2018 Elsevier Inc. All rights reserved.

  19. Expanding Options. A Model to Attract Secondary Students into Nontraditional Vocational Programs. For Emphasis in: Building Trades, Electronics, Health Services, Machine Shop, Welding.

    Science.gov (United States)

    Good, James D.; DeVore, Mary Ann

    This model has been designed for use by Missouri secondary schools in attracting females and males into nontraditional occupational programs. The research-based strategies are intended for implementation in the following areas: attracting females into building trades, electronics, machine shop, and welding; and males into secondary health…

  20. Bank Accounts for Public Finance Agencies Income

    Directory of Open Access Journals (Sweden)

    Paweł Lenio

    2014-03-01

    Full Text Available The subject of this paper are bank accounts for public finance agencies income. The article describes characteristics of accounts for all three kinds of agencies: government and municipal units working in regards to statue of education and units with headquarters in foreign countries. The author presents a detailed directory of income for particular accounts and the allocation of said income. This paper also deals with the optionality of those dedicated bank accounts and the competence for erecting them. In a smaller scope there are presented the controversies of establishing bank accounts for public finance agencies income in the past, before the current statue of public finance.

  1. Financing Sustainable Small-Scale Forestry: Lessons from Developing National Forest Financing Strategies in Latin America

    Directory of Open Access Journals (Sweden)

    Herman Savenije

    2010-12-01

    Full Text Available The problems that hamper the financing of sustainable forest management (SFM are manifold and complex. However, forestry is also facing unprecedented opportunities. The multiple functions and values of forests are increasingly recognized as part of the solution to pressing global issues (e.g., climate change, energy scarcity, poverty, environmental degradation, biodiversity loss and raw material supply. Emerging initiatives to enhance forest carbon stocks and cut greenhouse gas emissions associated with forest clearing (known as REDD+, together with voluntary carbon markets, are offering additional funding options for SFM. Indigenous peoples, local communities and small scale farmers feature as key players in the discourse on implementing such initiatives. Based on the experience of countries developing national forest financing strategies and instruments, we suggest the following points be considered when financing such initiatives, particularly for small scale forestry: (1 Integrate financing of REDD+ and similar initiatives within broader national strategies for SFM financing; (2 Design REDD+ finance mechanisms that are ‘community ready’, i.e., tailored to local realities; (3 Consider existing livelihood strategies as the starting point; (4 Build on existing structures, but be mindful of their strengths and weaknesses; (5 Be strategic with your priority actions; and (6 Promote innovation, knowledge sharing and information exchange.

  2. Descriptive Analysis and Strategic Options to Defeat Commodity-Based Threat Financing Methodologies Related to Gold

    Science.gov (United States)

    2015-09-01

    auditing firms. 14. SUBJECT TERMS Counter threat finance, commodity-based money laundering , terrorist financing, social network analysis, bright...51 2. Asia/Pacific Group on Money Laundering ................................52 3. Caribbean Financial Action Task Force...53 4. Eurasian Group on Combating Money Laundering and Financing of Terrorism

  3. Andragogical Teaching Methods to Enhance Non-Traditional Student Classroom Engagement

    Science.gov (United States)

    Allen, Pamela; Withey, Paul; Lawton, Deb; Aquino, Carlos Tasso

    2016-01-01

    The aim of this study was to provide a reflection of current trends in higher education, identify some of the changes in student behavior, and potential identification of non-traditional classroom facilitation with the purpose of strengthening active learning and use of technology in the classroom. Non-traditional teaching is emerging in the form…

  4. Energy Finance Data Warehouse Manual

    Energy Technology Data Exchange (ETDEWEB)

    Lee, Sangkeun [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Chinthavali, Supriya [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Shankar, Mallikarjun [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Zeng, Claire [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Hendrickson, Stephen [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)

    2016-11-30

    The Office of Energy Policy and Systems Analysis s finance team (EPSA-50) requires a suite of automated applications that can extract specific data from a flexible data warehouse (where datasets characterizing energy-related finance, economics and markets are maintained and integrated), perform relevant operations and creatively visualize them to provide a better understanding of what policy options affect various operators/sectors of the electricity system. In addition, the underlying data warehouse should be structured in the most effective and efficient way so that it can become increasingly valuable over time. This report describes the Energy Finance Data Warehouse (EFDW) framework that has been developed to accomplish the defined requirement above. We also specifically dive into the Sankey generator use-case scenario to explain the components of the EFDW framework and their roles. An excel-based data warehouse was used in the creation of the energy finance Sankey diagram and other detailed data finance visualizations to support energy policy analysis. The framework also captures the methodology, calculations and estimations analysts used for the calculation as well as relevant sources so newer analysts can build on work done previously.

  5. Quantum Finance: The Finite Dimensional Case

    OpenAIRE

    Chen, Zeqian

    2001-01-01

    In this paper, we present a quantum version of some portions of Mathematical Finance, including theory of arbitrage, asset pricing, and optional decomposition in financial markets based on finite dimensional quantum probability spaces. As examples, the quantum model of binomial markets is studied. We show that this quantum model ceases to pose the paradox which appears in the classical model of the binomial market. Furthermore, we re-deduce the Cox-Ross-Rubinstein binomial option pricing form...

  6. Tools for computational finance

    CERN Document Server

    Seydel, Rüdiger U

    2017-01-01

    Computational and numerical methods are used in a number of ways across the field of finance. It is the aim of this book to explain how such methods work in financial engineering. By concentrating on the field of option pricing, a core task of financial engineering and risk analysis, this book explores a wide range of computational tools in a coherent and focused manner and will be of use to anyone working in computational finance. Starting with an introductory chapter that presents the financial and stochastic background, the book goes on to detail computational methods using both stochastic and deterministic approaches. Now in its sixth edition, Tools for Computational Finance has been significantly revised and contains:    Several new parts such as a section on extended applications of tree methods, including multidimensional trees, trinomial trees, and the handling of dividends; Additional material in the field of generating normal variates with acceptance-rejection methods, and on Monte Carlo methods...

  7. The Profitability – Risk Relationship and Financing Decision

    Directory of Open Access Journals (Sweden)

    Nicoleta BARBUTA-MISU

    2007-01-01

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

  8. Shopping Center Financing: Pricing Loan Default Risk

    OpenAIRE

    Peter Chinloy; James Musumeci

    1994-01-01

    The financing structure of a shopping center is decomposed into an income security and two put options. These put options are respectively held by the borrower against the lender for default, and by the lender against an insurer or reinsurer. The prices of the put option depend on the loan-to-value ration of the loan and on the risk of the investment. The interest rate charged on the loan is the sum of four components: a riskless rate, lender production costs, and the net price of the put opt...

  9. What can I do with a doctoral degree in gerontology? Expanding your options.

    Science.gov (United States)

    Dassel, Kara Bottiggi; Ewen, Heidi; Carr, Dawn; Manning, Lydia; Leach, Corinne; Fitzgerald, Kelly

    2014-01-01

    An endless number of career trajectories are possible for gerontologists. With a growing aging population, our skills and areas of expertise are of high value to numerous industries. The purpose of this study is to describe the professional development and career trajectories of alumni of U.S. doctoral gerontology programs obtained through the Gerontology Education Longitudinal Study (GELS). Specifically, the authors examine how professional identification, doctoral program career preparation, and perception of job prospects affect alumni decisions to pursue "traditional" (i.e., academic) versus "nontraditional" (i.e., non-academic) careers. Results from the GELS revealed a fairly even split in the alumni sample of careers in traditional and nontraditional settings. The decision to pursue a traditional versus nontraditional career was not significantly associated with personal identification, doctoral program career preparation, or perception of employment options. These results suggest that the skill set obtained in doctoral gerontology programs is useful and is in demand in a variety of careers; therefore, doctoral programs may want to consider tailoring training to meet students' future career goals in both academic and non-academic settings.

  10. Exploring Non-Traditional Learning Methods in Virtual and Real-World Environments

    Science.gov (United States)

    Lukman, Rebeka; Krajnc, Majda

    2012-01-01

    This paper identifies the commonalities and differences within non-traditional learning methods regarding virtual and real-world environments. The non-traditional learning methods in real-world have been introduced within the following courses: Process Balances, Process Calculation, and Process Synthesis, and within the virtual environment through…

  11. The Study on Stage Financing Model of IT Project Investment

    Directory of Open Access Journals (Sweden)

    Si-hua Chen

    2014-01-01

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

  12. The Study on Stage Financing Model of IT Project Investment

    Science.gov (United States)

    Xu, Sheng-hua; Xiong, Neal N.

    2014-01-01

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

  13. The study on stage financing model of IT project investment.

    Science.gov (United States)

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

    2014-01-01

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

  14. The Clinical Practice of Traditional and Nontraditional Dental Hygienists. Final Report.

    Science.gov (United States)

    Boyer, E. Marcia

    Information is presented on a study designed to gather details about the services provided by clinical dental hygienists in traditional and nontraditional settings. The 10 research topics addressed include: services provided by the clinical RDH in the traditional and nontraditional setting; time allocated for such services; how patients are…

  15. Applying Kolb's Model to a Nontraditional Preservice Teaching Practicum

    Science.gov (United States)

    Burns, Amy; Danyluk, Patricia

    2017-01-01

    This article reports on the initial findings of an ongoing study that will see six preservice teachers placed in a nontraditional practicum placement as part of their bachelor of education program. Reported here is the examination of emergent professionalism of the initial two preservice teachers during their nontraditional practicum placement on…

  16. Financial aspects of increasing the usage of nontraditional renewable energy sources

    International Nuclear Information System (INIS)

    Aslanyan, G.S.; Molodtsov, S.D.

    2001-01-01

    The current situation on the market of equipment for facilities, operating on nontraditional renewable sources is considered. The basic factors, determining the demand therefore, as well as problems on the investment provision of the nontraditional power engineering and possibilities for attracting financial resources for its further development are considered [ru

  17. Physics of Nontraditional Electrorheological and Magnetorheological Fluids

    Science.gov (United States)

    Gu, G. Q.; Tao, R.

    Nontraditional electrorheology (ER) and magnetorheology (MR) are new areas. It started with high demands, such as reducing the viscosity of crude oil and suppressing turbulence to improve crude oil flow in pipelines. Normally, these two goals conflict each other. When the viscosity is reduced, Reynolds number goes up, and the turbulence would get worse. The non-traditional ER and MR have provided unconventional technologies to solve such issues. Different from traditional ER and MR, where the strong electric field or magnetic field is applied in the direction perpendicular to the flow or shearing, the fluid can even be solidified as the viscosity increases dramatically. In nontraditional ER and MR, the electric field or magnetic field is applied in the direction parallel to the flow, the particles are aggregated into short chains along the flow direction by the field, and the fluid viscosity becomes anisotropic. Along the flow direction, the viscosity is reduced, while in the directions perpendicular to the flow, the viscosity is dramatically increased. Thus the turbulence is suppressed; the flow becomes laminar and is further improved by the reduced viscosity along the flow direction. The original conflicted two goals can now be accomplished simultaneously. The new physics began to produce big impacts on energy, food industry, and medical science.

  18. Danish nontraditional power - 10 years later

    International Nuclear Information System (INIS)

    Larin, V.

    2001-01-01

    The changes that took place in nontraditional energy generation in Denmark in the recent decade are described. Specifically, vegetable oil cars, wind mills and solar collectors are considered. Biogas is used extensively and interest to firewood is revived [ru

  19. Financing Opportunities for Renewable Energy Development in Alaska

    Energy Technology Data Exchange (ETDEWEB)

    Ardani, K.; Hillman, D.; Busche, S.

    2013-04-01

    This technical report provides an overview of existing and potential financing structures for renewable energy project development in Alaska with a focus on four primary sources of project funding: government financed or supported (the most commonly used structure in Alaska today), developer equity capital, commercial debt, and third-party tax-equity investment. While privately funded options currently have limited application in Alaska, their implementation is theoretically possible based on successful execution in similar circumstances elsewhere. This report concludes that while tax status is a key consideration in determining appropriate financing structure, there are opportunities for both taxable and tax-exempt entities to participate in renewable energy project development.

  20. Financing to meet community needs: a guide for small hospitals.

    Science.gov (United States)

    Wilson, Bill

    2009-03-01

    To succeed in the current financial markets, small hospitals need flexible project and financing plans. Many small local banks today can offer small hospitals financing solutions on par with what was previously offered only by the country's strongest investment-grade rated banks. Federal assistance through programs such as HUD's Section 242 mortgage insurance program is also a viable option for small hospitals.

  1. Examining possible relationship between carbon finance availability and growth of wind energy

    Directory of Open Access Journals (Sweden)

    Collins C Ngwakwe

    2014-09-01

    Full Text Available This paper evaluates the possible relationship between carbon fund availability and the growth of wind energy. This has become apposite considering global quest for renewable energies as a veritable option for carbon reduction and sustainable development. Whilst some extant literature blames delay in climate policy as an obstacle to green energy, others regard carbon finance availability as a booster to renewable energy. Raging argument is that similar to any other investment, renewable energy finance availability may mar or catalyse growth in renewable energy. Consequently, in this paper, a conceptual overview of carbon finance and renewable energy is undertaken and a test of the relationship between the World Bank carbon finance availability and wind energy growth is conducted. The result indicates a significant positive relationship between World Bank carbon financing and global growth in wind energy. The paper thus concludes that aside from policy options, renewable energy financing seems to be a contributory catalyst that may spur improvement in global renewable energy. The paper highlights that achieving green economic development in developing countries would depend, not only on climate policies alone, but also on sustainable financing. Hence government and private sources of funding is very desirable in achieving global green economic development, most importantly, for developing economies. The paper thus offers a research agenda on awareness creating for local and international sources of green energy for developing countries.

  2. A Comparison of Mental Health and Alcohol Use Between Traditional and Nontraditional Students.

    Science.gov (United States)

    Trenz, Rebecca C; Ecklund-Flores, Lisa; Rapoza, Kimberly

    2015-01-01

    To describe differences in life stress, anxiety, depression, and alcohol use between traditional and nontraditional college students. A targeted, stratified sample of college students (N = 1,187; Mage = 23.96, SD = 7.30; female, 67.2%) completed study surveys in Spring 2011. Participants completed demographic information, life stress (Crisis in Family Systems), anxiety (Beck Anxiety Inventory), depression (Center for Epidemiologic Studies Depression Scale), and alcohol use (Alcohol Use Disorders Identification Test-Consumption) surveys during regularly scheduled class times. Fifty-three percent (n = 630) of study participants were nontraditional students. Nontraditional students scored significantly higher than traditional students on life stress (t[1182] = -3.05, p students did not differ on alcohol use. Interventions for nontraditional college students should address the mental health issues specific to this growing college subpopulation.

  3. Urban Extension's New Nontraditional Offering: Parent-Child Reading Enhancement Program

    Science.gov (United States)

    Brandon, Dorothy P.; Tsamaase, Marea; Humphrey, Ronnie; Crenshaw, Kevin

    2018-01-01

    Urbanization is causing a major shift in Extension's programming throughout the United States. We present results of a nontraditional urban program (the Parent-Child Reading Enhancement Program) that is being implemented by Alabama Cooperative Extension System's Urban Affairs and New Nontraditional Programs unit. Findings suggest that this…

  4. Attitudes toward School Preparation and Work Barriers of Nontraditional Vocational Education Completers.

    Science.gov (United States)

    Kendall, Elizabeth L.

    Nontraditional and traditional secondary vocational education program completers in West Virginia were surveyed to determine their attitudes toward their school preparation, work, and encountered work barriers. A questionnaire was mailed to 100 nontraditional and 100 traditional program completers, and a 10 percent sample was contacted by…

  5. REAL OPTIONS IN PROJECT FINANCE: AN OIL INDUSTRY APPLICATION

    OpenAIRE

    RAFAEL MACHADO MENDES

    2012-01-01

    As estruturas do tipo Project Finance, cada vez mais, vêm sendo utilizadas para o financiamento de projetos de investimento, principalmente, quando se trata de obras infraestruturais. Para tanto, uma grande estruturação jurídica é utilizada de forma a garantir uma adequada alocação de riscos às partes interessadas do projeto. Esta gestão riscos do projeto é de fundamental importância para garantir a viabilidade financeira e sucesso de um financiamento estruturado, como o Projec...

  6. Demystifying Educational Resilience: Barriers of Bahamian Nontraditional Adult Learners in Higher Education

    Science.gov (United States)

    Hunter-Johnson, Yvonne

    2017-01-01

    Within the past 30 years, the number of nontraditional learners who pursue higher education has increased. This gravitation to higher education can be attributed to the changing value of the nontraditional learner regarding higher education as a direct link to improving the quality of employment, family, and financial stability. Despite the desire…

  7. Ownership options, financing structures, and regulatory considerations affecting independent power production projects

    International Nuclear Information System (INIS)

    Knapp, G.M.

    1990-01-01

    In this paper is a framework for analysis of the legal, financing, and policy differences between independent power production projects (IPPs) and projects with qualifying facility status (QFs) under the Public Utility Regulatory Policies Act (PURPA). At a basic level, there is no fundamental difference in types of ownership and financing structures available to IPPs and QFS. The key consideration, though, is the regulatory and legal implications to project participants. Significant issues arise for equity participants, lenders, developers, and project operators that are considering IPP projects. Of course, many of these same issues apply to certain types of QF projects that are not fully exempt from the Public Utility Holding Company Act (PUHCA) and the Federal Power Act (FPA)

  8. The Profitability – Risk Relationship and Financing Decision

    OpenAIRE

    Nityesh BHATT

    2007-01-01

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

  9. Pain-Coping Traits of Nontraditional Women Athletes: Relevance to Optimal Treatment and Rehabilitation.

    Science.gov (United States)

    Meyers, Michael C; Higgs, Robert; LeUnes, Arnold D; Bourgeois, Anthony E; Laurent, C Matthew

    2015-10-01

    The primary goal of traditional treatment and rehabilitation programs is to safely return athletes to full functional capacity. Nontraditional activities such as rock climbing or rodeo are typically less training structured and coach structured; individualism, self-determination, and autonomy are more prevalent than observed in athletes in National Collegiate Athletic Association (NCAA)-sponsored sports. The limited research available on nontraditional athletes has provided the athletic trainer little insight into the coping skills and adaptations to stressors that these athletes may bring into the clinical setting, especially among the growing number of women participating in these types of activities. A better understanding of the pain-coping traits of nontraditional competitors would enhance insight and triage procedures while heading off potential athlete-related risk factors in the clinical setting. To quantify and compare pain-coping traits among individual-sport women athletes participating in nontraditional versus traditional NCAA-structured competition, with relevance to optimal treatment and rehabilitation. Cross-sectional study. Data collected during each participant's respective group meeting before seasonal activity. Participants or Other Participants : A total of 298 athletes involved in either nontraditional, non-NCAA individual sports (n = 152; mean age = 20.2 ± 1.3 years; downhill skiing, martial arts, rock climbing, rodeo, skydiving, telemark skiing) or traditional NCAA sports (n = 146; mean age = 20.3 ± 1.4 years; equestrian, golf, swimming/diving, tennis, track). All participants completed the Sports Inventory for Pain, a sport-specific, self-report instrument that measures pain-coping traits relevant to competition, treatment, and rehabilitation. Trait measures were direct coping, cognitive, catastrophizing, avoidance, body awareness, and total coping response. Data were grouped for analyses by type of athlete (nontraditional, traditional

  10. Stochastic analysis for finance with simulations

    CERN Document Server

    Choe, Geon Ho

    2016-01-01

    This book is an introduction to stochastic analysis and quantitative finance; it includes both theoretical and computational methods. Topics covered are stochastic calculus, option pricing, optimal portfolio investment, and interest rate models. Also included are simulations of stochastic phenomena, numerical solutions of the Black–Scholes–Merton equation, Monte Carlo methods, and time series. Basic measure theory is used as a tool to describe probabilistic phenomena. The level of familiarity with computer programming is kept to a minimum. To make the book accessible to a wider audience, some background mathematical facts are included in the first part of the book and also in the appendices. This work attempts to bridge the gap between mathematics and finance by using diagrams, graphs and simulations in addition to rigorous theoretical exposition. Simulations are not only used as the computational method in quantitative finance, but they can also facilitate an intuitive and deeper understanding of theoret...

  11. Bridge to the future: nontraditional clinical settings, concepts and issues.

    Science.gov (United States)

    Faller, H S; Dowell, M A; Jackson, M A

    1995-11-01

    Healthcare restructuring in the wake of healthcare reform places greater emphasis on primary healthcare. Clinical education in acute care settings and existing community health agencies are not compatible with teaching basic concepts, principles and skills fundamental to nursing. Problems of clients in acute care settings are too complex and clients in the community are often too dispersed for necessary faculty support and supervision of beginning nursing students. Nontraditional learning settings offer the baccalaureate student the opportunity to practice fundamental skills of care and address professional skills of negotiation, assertiveness, organization, collaboration and leadership. An overview of faculty designed clinical learning experiences in nontraditional sites such as McDonald's restaurants, inner city churches, YWCA's, the campus community and homes are presented. The legal, ethical and academic issues associated with nontraditional learning settings are discussed in relation to individual empowerment, decision making and evaluation. Implications for the future address the role of the students and faculty as they interact with the community in which they live and practice.

  12. Mathematical finance theory review and exercises from binomial model to risk measures

    CERN Document Server

    Gianin, Emanuela Rosazza

    2013-01-01

    The book collects over 120 exercises on different subjects of Mathematical Finance, including Option Pricing, Risk Theory, and Interest Rate Models. Many of the exercises are solved, while others are only proposed. Every chapter contains an introductory section illustrating the main theoretical results necessary to solve the exercises. The book is intended as an exercise textbook to accompany graduate courses in mathematical finance offered at many universities as part of degree programs in Applied and Industrial Mathematics, Mathematical Engineering, and Quantitative Finance.

  13. Non-Traditional Systemic Treatments for Diabetic Retinopathy: An
Evidence-Based Review

    Science.gov (United States)

    Simó, Rafael; Ballarini, Stefania; Cunha-Vaz, José; Ji, Linong; Haller, Hermann; Zimmet, Paul; Wong, Tien Y.

    2015-01-01

    The rapid escalation in the global prevalence diabetes, with more than 30% being afflicted with diabetic retinopathy (DR), means it is likely that associated vision-threatening conditions will also rise substantially. This means that new therapeutic approaches need to be found that go beyond the current standards of diabetic care, and which are effective in the early stages of the disease. In recent decades several new pharmacological agents have been investigated for their effectiveness in preventing the appearance and progression of DR or in reversing DR; some with limited success while others appear promising. This up-to-date critical review of non-traditional systemic treatments for DR is based on the published evidence in MEDLINE spanning 1980-December 2014. It discusses a number of therapeutic options, paying particular attention to the mechanisms of action and the clinical evidence for the use of renin-angiotensin system blockade, fenofibrate and calcium dobesilate monohydrate in DR. PMID:25989912

  14. Implications of Nontraditional Work Schedules for Women

    Science.gov (United States)

    Polit, Denise F.

    1978-01-01

    Issues, evidence, and arguments relating to the effects of alternative working arrangements on the lives of women are examined. Forms of nontraditional schedules which are analyzed include the shortened work week, flexible working hours, and part-time employment. (Author/GC)

  15. Nontraditional Students and Postsecondary School Satisfaction.

    Science.gov (United States)

    Flammger, Dawne M.

    This study compared the satisfaction levels of 40 adult nontraditional students (N=40) attending one of three types of postsecondary institutions: (1) a proprietary school, (2) a community college, and (3) a university. A survey was administered to such students enrolled in the Travel and Tourism programs at Bryant and Stratton Business Institute…

  16. The Coping Strategies of Nontraditional Female Students in Southwest Michigan and Northern Indiana

    Science.gov (United States)

    Davis, Desiree

    2017-01-01

    Problem: The purpose of this research study was to examine the coping strategies of nontraditional female students in a private university in Southwest Michigan, and a public university in Northern Indiana. According to Carney-Compton & Tan (2002), nontraditional female students characterize the leading emergent set of students beginning…

  17. Conceptualisation of learning satisfaction experienced by non-traditional learners in Singapore

    OpenAIRE

    Khiat, Henry

    2013-01-01

    This study uncovered the different factors that make up the learning satisfaction of non-traditional learners in Singapore. Data was collected from a component of the student evaluation exercise in a Singapore university in 2011. A mixed-methods approach was adopted in the analysis. The study stated that non-traditional learners’ learning satisfaction can be generally grouped into four main categories: a) Desirable Learning Deliverables; b) Directed Learning Related Factors; c) Lecturer/Tutor...

  18. Energy and non-traditional security (NTS) in Asia

    Energy Technology Data Exchange (ETDEWEB)

    Caballero-Anthony, Mely [Nanyang Technological Univ., Singapore (SG). Centre for Non-Traditional Security (NTS) Studies; Chang, Youngho [Nanyang Technological Univ., Singapore (Singapore). Division of Economics; Putra, Nur Azha (eds.) [National Univ. of Singapore (Singapore). Energy Security Division

    2012-07-01

    Traditional notions of security are premised on the primacy of state security. In relation to energy security, traditional policy thinking has focused on ensuring supply without much emphasis on socioeconomic and environmental impacts. Non-traditional security (NTS) scholars argue that threats to human security have become increasingly prominent since the end of the Cold War, and that it is thus critical to adopt a holistic and multidisciplinary approach in addressing rising energy needs. This volume represents the perspectives of scholars from across Asia, looking at diverse aspects of energy security through a non-traditional security lens. The issues covered include environmental and socioeconomic impacts, the role of the market, the role of civil society, energy sustainability and policy trends in the ASEAN region.

  19. Pain-Coping Traits of Nontraditional Women Athletes: Relevance to Optimal Treatment and Rehabilitation

    Science.gov (United States)

    Meyers, Michael C.; Higgs, Robert; LeUnes, Arnold D.; Bourgeois, Anthony E.; Laurent, C. Matthew

    2015-01-01

    Context The primary goal of traditional treatment and rehabilitation programs is to safely return athletes to full functional capacity. Nontraditional activities such as rock climbing or rodeo are typically less training structured and coach structured; individualism, self-determination, and autonomy are more prevalent than observed in athletes in National Collegiate Athletic Association (NCAA)-sponsored sports. The limited research available on nontraditional athletes has provided the athletic trainer little insight into the coping skills and adaptations to stressors that these athletes may bring into the clinical setting, especially among the growing number of women participating in these types of activities. A better understanding of the pain-coping traits of nontraditional competitors would enhance insight and triage procedures while heading off potential athlete-related risk factors in the clinical setting. Objective To quantify and compare pain-coping traits among individual-sport women athletes participating in nontraditional versus traditional NCAA-structured competition, with relevance to optimal treatment and rehabilitation. Design Cross-sectional study. Setting Data collected during each participant's respective group meeting before seasonal activity. Participants or Other Participants A total of 298 athletes involved in either nontraditional, non-NCAA individual sports (n = 152; mean age = 20.2 ± 1.3 years; downhill skiing, martial arts, rock climbing, rodeo, skydiving, telemark skiing) or traditional NCAA sports (n = 146; mean age = 20.3 ± 1.4 years; equestrian, golf, swimming/diving, tennis, track). Main Outcome Measure(s) All participants completed the Sports Inventory for Pain, a sport-specific, self-report instrument that measures pain-coping traits relevant to competition, treatment, and rehabilitation. Trait measures were direct coping, cognitive, catastrophizing, avoidance, body awareness, and total coping response. Data were grouped for

  20. What physicists should know about finance

    Science.gov (United States)

    Schmidt, Anatoly B.

    2005-05-01

    There has been growing interest in Econophysics, i.e. analysis and modeling of financial time series using the theoretical Physics concepts (scaling, fractals, chaos). Besides the scientific stimuli, this interest is backed by perception that the financial industry is a viable alternative for those physicists who are not able or are not willing to pursue an academic career. However, the times when any Ph.D. in Physics had a chance to find a job on the Wall Street are gone (if they ever existed). Indeed, not every physicist wields the stochastic calculus, non-normal statistical distributions, and the methods of time series analysis. Moreover, now that many universities offer courses in mathematical finance, the applicants for quantitative positions in finance are expected to know such concepts as option pricing, portfolio management, and risk measurement. Here I describe a synthetic course based on my book [1] that outlines both worlds: Econophysics and Mathematical Finance. The course may be offered as elective for senior undergraduate or graduate Physics majors.

  1. The challenge of financing nuclear power plants

    International Nuclear Information System (INIS)

    Csik, B.J.

    1999-01-01

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

  2. Perceived constraints by non-traditional users on the Mt. Baker-Snoqualmie National Forest

    Science.gov (United States)

    Elizabeth A. Covelli; Robert C. Burns; Alan Graefe

    2007-01-01

    The purpose of this study was to investigate the constraints that non-traditional users face, along with the negotiation strategies that are employed in order to start, continue, or increase participation in recreation on a national forest. Non-traditional users were defined as respondents who were not Caucasian. Additionally, both constraints and negotiation...

  3. Health services financing and delivery: analysis of policy options for Dubai, United Arab Emirates

    OpenAIRE

    Hamidi, Samer

    2015-01-01

    Samer Hamidi School of Health and Environmental Studies, Hamdan Bin Mohammed Smart University, Dubai, United Arab Emirates Introduction: A national health account (NHA) provides a systematic approach to mapping the flow of health sector funds within a specified health system over a defined time period. This article attempts to present a profile of health system financing in Dubai, United Arab Emirates using data from NHAs, and to compare the functional structures of financing schemes in Duba...

  4. Adoption of agricultural innovations through non-traditional financial ...

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

    Adoption of agricultural innovations through non-traditional financial services ... donors, banks, and financial institutions to explore new kinds of financial services to ... enterprises, and others in the production process to connect with markets.

  5. Perspectives applicable to financing midstreamers: legal considerations

    International Nuclear Information System (INIS)

    Park, J. J.

    2000-01-01

    Systemic changes that have affected the sale, distribution and transportation of gas near the burner tip (collectively called 'midstream' activities) are reviewed, examining the causes of change, and the types of midstream asset transactions that are occurring, whether they involve structured financing arrangements or midstream companies. Also addressed are issues involved in transactions of this type, especially as they relate to gathering and processing agreements and construction, ownership and operation (CO and O) agreements. The two principal alternative structures (1) the financing party who does not assume operational control of the facility, and the (2) midstream company who build or acquire assets and operate them, the different implications for financing of each of the structural alternatives and the changing attitudes of producers towards midstream entities are explained. Closer examination of these new business structures reveals that they conflict with the terms and conditions of midstream agreements commonly used throughout the industry. It is recommended that these standard agreements be amended to permit midstream transactions to occur without undue restrictions. The kind of amendments suggested include automatic consent to a transfer of a facility to a Financing Party that meets certain reasonable financial tests; allowing the reconveyance from the Financing Party to the producer under a repurchase option; allowing the producer to act as Operator in place of its Financing Party

  6. Public Education Finance Systems in the United States and Funding Policies for Populations with Special Educational Needs

    Science.gov (United States)

    Verstegen, Deborah A.

    2011-01-01

    This research investigates state finance policies for public education using survey methodology. The purpose is to update previous work and the existing knowledge base in the field as well as to provide a compendium of finance and policy options that are used across the states to finance public elementary and secondary schools. Chief state school…

  7. 13 CFR 107.800 - Financings in the form of Equity Securities.

    Science.gov (United States)

    2010-01-01

    ... of any class in a corporation, stock options, warrants, limited partnership interests in a limited partnership, membership interests in a limited liability company, or joint venture interests. If the Financing...

  8. Natural Computing in Computational Finance Volume 4

    CERN Document Server

    O’Neill, Michael; Maringer, Dietmar

    2012-01-01

    This book follows on from Natural Computing in Computational Finance  Volumes I, II and III.   As in the previous volumes of this series, the  book consists of a series of  chapters each of  which was selected following a rigorous, peer-reviewed, selection process.  The chapters illustrate the application of a range of cutting-edge natural  computing and agent-based methodologies in computational finance and economics.  The applications explored include  option model calibration, financial trend reversal detection, enhanced indexation, algorithmic trading,  corporate payout determination and agent-based modeling of liquidity costs, and trade strategy adaptation.  While describing cutting edge applications, the chapters are  written so that they are accessible to a wide audience. Hence, they should be of interest  to academics, students and practitioners in the fields of computational finance and  economics.  

  9. Emerging Technologies as a Form of Student Engagement for Nontraditional California Community College Students

    Science.gov (United States)

    Ogilvie, Gina M.

    2011-01-01

    Technology usage is increasing important for community college students, but whether nontraditional students differ from traditional students in technology usage and support was unclear. Further, it was not known whether Nontraditional and Traditional community college students feel equally connected to the college when using social networking…

  10. Student Media Usage Patterns and Non-Traditional Learning in Higher Education

    Directory of Open Access Journals (Sweden)

    Olaf Zawacki-Richter

    2015-04-01

    Full Text Available A total of 2,338 students at German universities participated in a survey, which investigated media usage patterns of so-called traditional and non-traditional students (Schuetze & Wolter, 2003. The students provided information on the digital devices that they own or have access to, and on their usage of media and e-learning tools and services for their learning. A distinction was made between external, formal and internal, informal tools and services. Based on the students’ responses, a typology of media usage patterns was established by means of a latent class analysis (LCA. Four types or profiles of media usage patterns were identified. These types were labeled entertainment users, peripheral users, advanced users and instrumental users. Among non-traditional students, the proportion of instrumental users was rather high. Based on the usage patterns of traditional and non-traditional students, implications for media selection in the instructional design process are outlined in the paper.

  11. A Perspective on the Accreditation of Nontraditional Higher Education.

    Science.gov (United States)

    Andrews, Grover; Harris, John

    1979-01-01

    The nontraditional education movement in postsecondary education has presented new problems for accreditation in terms of results vs process, governance, the rise of entrepreneurs, and territoriality. (JMF)

  12. Seeking Nontraditional Approaches to Collaborating and Partnering with Industry

    National Research Council Canada - National Science Library

    Held, Bruce

    2002-01-01

    ...)) in January 2000, describing nontraditional approaches for the Army to follow to collaborate and partner with industry using the concepts of public- private partnerships, venture capital funding...

  13. From statistics to mathematical finance festschrift in honour of Winfried Stute

    CERN Document Server

    Manteiga, Wenceslao; Schmidt, Thorsten; Wang, Jane-Ling

    2017-01-01

    This book, dedicated to Winfried Stute on the occasion of his 70th birthday, presents a unique collection of contributions by leading experts in statistics, stochastic processes, mathematical finance and insurance. The individual chapters cover a wide variety of topics ranging from nonparametric estimation, regression modelling and asymptotic bounds for estimators, to shot-noise processes in finance, option pricing and volatility modelling. The book also features review articles, e.g. on survival analysis.

  14. Affordable non-traditional source data mining for context assessment to improve distributed fusion system robustness

    Science.gov (United States)

    Bowman, Christopher; Haith, Gary; Steinberg, Alan; Morefield, Charles; Morefield, Michael

    2013-05-01

    This paper describes methods to affordably improve the robustness of distributed fusion systems by opportunistically leveraging non-traditional data sources. Adaptive methods help find relevant data, create models, and characterize the model quality. These methods also can measure the conformity of this non-traditional data with fusion system products including situation modeling and mission impact prediction. Non-traditional data can improve the quantity, quality, availability, timeliness, and diversity of the baseline fusion system sources and therefore can improve prediction and estimation accuracy and robustness at all levels of fusion. Techniques are described that automatically learn to characterize and search non-traditional contextual data to enable operators integrate the data with the high-level fusion systems and ontologies. These techniques apply the extension of the Data Fusion & Resource Management Dual Node Network (DNN) technical architecture at Level 4. The DNN architecture supports effectively assessment and management of the expanded portfolio of data sources, entities of interest, models, and algorithms including data pattern discovery and context conformity. Affordable model-driven and data-driven data mining methods to discover unknown models from non-traditional and `big data' sources are used to automatically learn entity behaviors and correlations with fusion products, [14 and 15]. This paper describes our context assessment software development, and the demonstration of context assessment of non-traditional data to compare to an intelligence surveillance and reconnaissance fusion product based upon an IED POIs workflow.

  15. Academic Procrastination in Non-Traditional College Students

    Science.gov (United States)

    Garzón-Umerenkova, Angélica; Gil-Flores, Javier

    2017-01-01

    Introduction: Procrastination is the act of delaying necessary tasks to the extreme of experiencing discomfort and negative consequences for the individuals. The presence of nontraditional students at universities is a phenomenon which has increased remarkably over the last decades. This type of university students finds some difficulties during…

  16. Financial constraints and Islamic finance: Lesson learned from external financing perspective

    Directory of Open Access Journals (Sweden)

    Achmad Tohirin

    2016-10-01

    Full Text Available This study examines the presence of financial constraints and explores the role of profit-loss sharing (PLS in mitigating the problem of the financial constraints stemmed from the capital market imperfections. Using Malaysian listed companies’ data, this study finds that the financial constraints are present in the capital market. This finding implies the imperfect capital market. In Islamic PLS framework, there are two options of financing contracts that may be enforced in the capital market as financing mechanisms, i.e. al-musharakah and al-mudharabah. These schemes promote sharing of information and mutual trust between financiers and ‘borrowers’. In these contracts, there are strict terms and conditions to be adhered to by both parties so that the contracts pursue to be valid. Besides, PLS mechanism may reduce the cost of capital since the profit and loss are shared rather than be burdened only on one shoulder. In this regard, the imperfect market problems namely asymmetric information, agency problem and transaction cost can be reduced if not be overcome.

  17. Conserving agrobiodiversity amid global change, migration, and nontraditional livelihood networks: the dynamic uses of cultural landscape knowledge

    Directory of Open Access Journals (Sweden)

    Karl S. Zimmerer

    2014-06-01

    Full Text Available I examined agrobiodiversity in smallholder cultural landscapes with the goal of offering new insights into management and policy options for the resilience-based in situ conservation and social-ecological sustainability of local, food-producing crop types, i.e., landraces. I built a general, integrative approach to focus on both land use and livelihood functions of crop landraces in the context of nontraditional, migration-related livelihoods amid global change. The research involved a multimethod, case-study design focused on a cultural landscape of maize, i.e., corn, growing in the Andes of central Bolivia, which is a global hot spot for this crop's agrobiodiversity. Central questions included the following: (1 What are major agroecological functions and food-related services of the agrobiodiversity of Andean maize landraces, and how are they related to cultural landscapes and associated knowledge systems? (2 What are new migration-related livelihood groups, and how are their dynamic livelihoods propelled through global change, in particular international and national migration, linked to the use and cultural landscapes of agrobiodiversity? (3 What are management and policy options derived from the previous questions? Combined social-ecological services as both cultivation and food resources are found to function in relation to the cultural landscape. Results demonstrated major variations of maturation-based, phenologic traits and food-use properties that are cornerstones of the landrace-level agrobiodiversity of Andean maize. Knowledge of these parameters is widespread. Linkage of these production and consumption functions yields a major insight into dynamics of Andean maize agrobiodiversity. Concurrently, this smallholder cultural landscape has become increasingly dependent on new rural conditions, especially increased livelihood diversification and migration amid growing peri-urban influences. Viability of landrace-level maize

  18. Back to basics--just how much should a risk manager know about risk financing?

    Science.gov (United States)

    Miller, Vivian B

    2011-01-01

    Whether directly involved in development and implementation of the organization's risk financing program or not, risk management professionals, at the very least, need to be familiar with and understand the various risk financing strategies available to address all areas of exposure. This article addresses the types of coverages and risk financing options that should be considered when developing a comprehensive risk-financing program, and why it is important for risk management professionals to have some knowledge about these products, in order for their true value to be fully appreciated. © 2011 American Society for Healthcare Risk Management of the American Hospital Association.

  19. How to finance new energy-conservation equipment: investment in saving

    Energy Technology Data Exchange (ETDEWEB)

    Lipscombe, G

    1977-11-01

    A London banker outlines how companies can finance the new equipment needed to lower fuel consumption and reduce fuel bills. He notes that internal financing is the custom, but that the new urgency placed on efficient plant operation has broadened the options for financing capital projects. Financial considerations involve simple payback periods or a more sophisticated appraisal of an energy project's life-time effect on cash flow. Financiers will take into account whether there is a government grant, fuel cost savings, project costs, and tax allowances, although there are disadvantages in the discount approach. Outside sources of capital include bank drafts, term loans, leasing facilities, hire-purchase, and government loans. Each company must determine the best type of financing for its needs, but the opportunities improve when the energy manager, company accountant, and bank manager understand each other.

  20. Warranty of Misinforming as an Option in Product Utilization Process

    Directory of Open Access Journals (Sweden)

    Dimitar Grozdanov Christozov

    2016-05-01

    Full Text Available The following definition of “option” is given in Wikipedia - “In finance, an option is a contract, which gives the buyer (the owner or holder the right, but not the obligation, to buy or sell an underlying asset or instrument at a specified strike price on or before a specified date, depending on the form of the option” (“Option,” n.d.. Option as a risk management (mitigation tool is broadly used in finance and trade. At the same time, it introduces asymmetry in the sense that, probabilistically, it limits the level of losses (e.g., the price of the option and allows for unlimited gains. In the market of sophisticated devices (as smart phones, tablets, etc., where technologies are rapidly advancing, customers usually do not have the experience to use all features of the device at the time of the purchase. Due to the lack of appropriate expertise, the risk of misinforming, leading to not purchasing the “right” device is high, but given enough time to learn the capabilities of the device and map these to the needs and tasks that device will be used for, could provide the client with substantial long term benefits. Warranty of misinforming is a mechanism that provides the client with the opportunity to explore the device and master its features under limited risk of financial losses. Thus, the warranty of misinforming could be considered as an option - the custom-ers buy it (at a fixed cost and may gain (theoretically unlimited benefit by realizing (within the terms of the warranty that the device can be used to solve a variety of problems not envisaged at the time of purchase. In this study we present the idea of treating the warranty of misinforming as an option in finances and provide examples to illustrate our viewpoint.

  1. Developing an efficient decision support system for non-traditional machine selection: an application of MOORA and MOOSRA

    Directory of Open Access Journals (Sweden)

    Asis Sarkar

    2015-01-01

    Full Text Available The purpose of this paper is to find out an efficient decision support method for non-traditional machine selection. It seeks to analyze potential non-traditional machine selection attributes with a relatively new MCDM approach of MOORA and MOOSRA method. The use of MOORA and MOOSRA method has been adopted to tackle subjective evaluation of information collected from an expert group. An example case study is shown here for better understanding of the said selection module which can be effectively applied to any other decision-making scenario. The method is not only computationally very simple, easily comprehensible, and robust, but also believed to have numerous subjective attributes. The rankings are expected to provide good guidance to the managers of an organization to select a feasible non-traditional machine. It shall also provide a good insight for the non-traditional machine manufacturer who might encourage research work concerning non-traditional machine selection.

  2. Financing reform and structural change in the health services industry.

    Science.gov (United States)

    Higgins, C W; Phillips, B U

    1986-08-01

    This paper reviews the major trends in financing reform, emphasizing their impact on those characteristics of the market for health services that economists have viewed as monopolistic, and discusses the implications of structural change for the allied health professions. Hopefully, by understanding the fundamental forces of change and responding to uncertainty with flexibility and imagination, the allied health professions can capitalize on the opportunities afforded by structural change. Overall, these trends should result in the long-term outlook for use of allied health services to increase at an average annual rate of 9% to 10%. Allied health professionals may also witness an increase in independent practice opportunities. Finally, redistribution of jobs will likely occur in favor of outpatient facilities, home health agencies, and nontraditional settings. This in turn will have an impact on allied health education, which will need to adapt to these types of reforms.

  3. Attitudes toward Sexual Discrimination and Nontraditional Roles.

    Science.gov (United States)

    Dillon, Linda S.

    1986-01-01

    The author surveyed the attitudes of 1,551 North Carolinians toward sexual discrimination and nontraditional work roles. Sixty-three percent of all respondents thought that women had not been treated equally with men in being allowed to earn enough money to support themselves independently. Women were significantly different than men in their…

  4. Non-traditional inheritance

    International Nuclear Information System (INIS)

    Hall, J.G.

    1992-01-01

    In the last few years, several non-traditional forms of inheritance have been recognized. These include mosaicism, cytoplasmic inheritance, uniparental disomy, imprinting, amplification/anticipation, and somatic recombination. Genomic imprinting (GI) is the dependence of the phenotype on the sex of the transmitting parent. GI in humans seems to involve growth, behaviour, and survival in utero. The detailed mechanism of genomic imprinting is not known, but it seems that some process is involved in turning a gene off; this probably involves two genes, one of which produces a product that turns a gene off, and the gene that is itself turned off. The process of imprinting (turning off) may be associated with methylation. Erasure of imprinting can occur, and seems to be associated with meiosis. 10 refs

  5. Behavioral finance: Finance with normal people

    Directory of Open Access Journals (Sweden)

    Meir Statman

    2014-06-01

    Behavioral finance substitutes normal people for the rational people in standard finance. It substitutes behavioral portfolio theory for mean-variance portfolio theory, and behavioral asset pricing model for the CAPM and other models where expected returns are determined only by risk. Behavioral finance also distinguishes rational markets from hard-to-beat markets in the discussion of efficient markets, a distinction that is often blurred in standard finance, and it examines why so many investors believe that it is easy to beat the market. Moreover, behavioral finance expands the domain of finance beyond portfolios, asset pricing, and market efficiency and is set to continue that expansion while adhering to the scientific rigor introduced by standard finance.

  6. Banking on Solar: Debt Finance in Today's Distributed Market (Poster)

    Energy Technology Data Exchange (ETDEWEB)

    Louder, T.

    2014-10-01

    Over the last two years, several entities - from banks to credit unions to solar finance companies -have rolled out distributed solar-specific loan programs in the United States. These solar-specific loans are a distinct loan in that the underwriting, loan terms, lender security interest, and other programmatic aspects are designed exclusively for the financing of solar installations. Until recently, loan financing for distributed solar installations was largely through home equity loans, commercial loans, and other standardized loan products available to homeowners and businesses for general expenditures. However, as the U.S. solar market matures, so too are its financing options, and solar-specific loans stand to gain market share. This poster was presented at the Solar Power International conference in Las Vegas, NV in October 2014.

  7. Application of Real Options Valuation to R&D Investments in Pharmaceutical Companies

    OpenAIRE

    Zhang, Huan Ran

    2006-01-01

    This paper provides an insight into the application of real option valuation method to R&D projects in pharmaceutical companies. As one of the most important corporate finance decision-making methods, real option valuation method has been introduced in the last two decades. By applying option valuation methods, real option valuation is a useful tool to company managers. R&D investments in pharmaceutical companies are subject to considerable uncertainty, which may involve possibilities (i...

  8. Electric utility preferred stock financing - twilight or new dawn?

    International Nuclear Information System (INIS)

    Klein, R.

    1991-01-01

    The tax laws have greatly diminished the importance of utility preferred stock. But with utility construction programs expected to rise, it is an opportune time to see if preferreds can be an attractive option again. As recently as 1980, preferred stock financing by electric utilities comprised 55% of all U.S. corporate preferred stock issued. By 1989, this percentage had declined to under 12%. In dollar amounts, electric utility preferred stock financing had decreased by two-thirds over the same time period. The author analyzes just why this decline occurred and what it portends for the future

  9. Exit Options in Corporate Finance: Liquidity versus Incentives

    OpenAIRE

    Aghion, Philippe; Bolton, P.; Tirole, J.

    2004-01-01

    This paper provides a first study of the optimal design of active monitors' exit options in a problem involving a demand for liquidity and costly monitoring of the issuer. Optimal incentives to monitor the issuer may involve restricting the monitor's right to sell her claims on the firm's cash-flow early. But the monitor will then require a liquidity premium for holding such an illiquid claim. In general, therefore, there will be a trade off between incentives and liquidity. The paper highlig...

  10. Information,Informal finance,and SME financing

    Institute of Scientific and Technical Information of China (English)

    LIN Justin Yifu; SUN Xifang

    2006-01-01

    Informal finance exists extensively and has been playing an important role in small-and medium-sized enterprise (SME) financing in developing economies,This paper tries to rationalize the extensiveness of informal finance.SME financing suffers more serious information asymmetry to the extent that most SMEs are more opaque and can only provide less collateral.Informal lenders have an advantage over formal financial institutions in collecting "soft information" about SME borrowers.This paper establishes a model including formal and informal lenders and high-and low-risk borrowers with or without sufficient collateral and shows that the credit market in which informal finance is eliminated will allocate funds in some inefficient way,and the efficiency of allocating credit funds can be improved once informal finance is allowed to coexist with formal finance.

  11. Derivative Trade Optimizing Model Utilizing GP Based on Behavioral Finance Theory

    Science.gov (United States)

    Matsumura, Koki; Kawamoto, Masaru

    This paper proposed a new technique which makes the strategy trees for the derivative (option) trading investment decision based on the behavioral finance theory and optimizes it using evolutionary computation, in order to achieve high profitability. The strategy tree uses a technical analysis based on a statistical, experienced technique for the investment decision. The trading model is represented by various technical indexes, and the strategy tree is optimized by the genetic programming(GP) which is one of the evolutionary computations. Moreover, this paper proposed a method using the prospect theory based on the behavioral finance theory to set psychological bias for profit and deficit and attempted to select the appropriate strike price of option for the higher investment efficiency. As a result, this technique produced a good result and found the effectiveness of this trading model by the optimized dealings strategy.

  12. Essay on Option Pricing, Hedging and Calibration

    DEFF Research Database (Denmark)

    da Silva Ribeiro, André Manuel

    Quantitative finance is concerned about applying mathematics to financial markets.This thesis is a collection of essays that study different problems in this field: How efficient are option price approximations to calibrate a stochastic volatilitymodel? (Chapter 2) How different is the discretely...... of dynamics? (Chapter 5) How can we formulate a simple free-arbitrage model to price correlationswaps? (Chapter 6) A summary of the work presented in this thesis: Approximation Behooves Calibration In this paper we show that calibration based on an expansion approximation for option prices in the Heston...... stochastic volatility model gives stable, accurate, and fast results for S&P500-index option data over the period 2005 to 2009. Discretely Sampled Variance Options: A Stochastic Approximation Approach In this paper, we expand Drimus and Farkas (2012) framework to price variance options on discretely sampled...

  13. Metropolitan City Finances in India: Options for A New Fiscal Architecture

    OpenAIRE

    Roy Bahl

    2012-01-01

    India will face great problems in finding a way to finance public services in its large cities in the next two decades. Backlogs in service levels and infrastructure are already great, and migration to urban areas will put even more pressure on state and local government budgets. Metropolitan cities have an economic base of significant size, but have not been empowered to tap this revenue potential. State governments have more ability to reach a buoyant tax base, and to borrow, but must also ...

  14. Social Capital of Non-Traditional Students at a German University. Do Traditional and Non-Traditional Students Access Different Social Resources?

    Science.gov (United States)

    Brändle, Tobias; Häuberer, Julia

    2015-01-01

    Social capital is of particular value for the acquisition of education. Not only does it prevent scholars from dropping out but it improves the educational achievement. The paper focuses on access to social resources by traditional and non-traditional students at a German university and asks if there are group differences considering this…

  15. Renewable energy sources. Non-traditional actors on the international market

    International Nuclear Information System (INIS)

    1999-01-01

    Five of Sweden's technical attaches have investigated the non-traditional actors activity within the field of renewable energy sources. Countries studied are USA, Japan, France, Germany and Great Britain

  16. Facilitating major additions to gas pipeline capacity: innovative approaches to financing, contracting, and regulation

    International Nuclear Information System (INIS)

    Schlesinger, B.; George, R.

    1997-01-01

    The North American gas pipeline industry is in the process of changing from a highly regulated merchant business to a less-regulated, more competitive, transportation industry. This has changed the risk profiles of many companies. This study examined various innovative approaches to successfully financing major pipeline projects emphasizing pipeline capacity financing, contractual terms between shippers and pipelines, and regulatory developments. Besides suggesting options to enhance prospects for financing major pipeline expansion projects, the study also aimed at creating a better understanding of the regulatory market and commercial changes in the pipeline industry and their financing implications. The study also includes a review of the evolution in gas markets and a record of consultations with lenders, producers, marketers and users. Innovative financing, contracting and regulatory solutions are identified and assessed. 25 refs., 17 tabs., 16 figs

  17. Analysis of an option to finance the investment in a nuclear power plant

    International Nuclear Information System (INIS)

    Villanueva M, C.

    2011-11-01

    According to the recent projection of costs of electric generation published by the International Atomic Energy Agency, with a rate of discount of 10% annual the even unitary cost of a nuclear power station of 1,400 MW of capacity would be 98. 75 USD 2010 /MWh, while for a combined cycle of same capacity that burns natural gas the cost it would be 92. 11 USD 2010 /MWh, operating the power stations with a capacity factor of 85% to generate 10,424 annual G Wh. To 5% annual, the costs would decrease at 58. 53 USD 2010 /MWh for the nuclear energy and at 85. 77 USD 2010 /MWh for the combined cycle. In an indifference analysis of the price of natural gas against the investment cost in the nuclear, with a rate of discount of 10% annual the common cost would be 97. 31 USD 2010 /MWh, when the even price of the natural gas was 10. 50 USD 2010 /G J and simultaneously the unitary cost of investment of the nuclear was 4,023 USD 2010 /kw. Under similar conditions, if the investment in the nuclear power station was 4,163 USD 2010 /Kw to redeem it in 60 years of economic useful life the equivalent annuity would be of USD 2010 790.060 millions that would have the same value of the annual invoice of the natural gas consumed by the combined cycle power station to the price of 12. 00 USD 2010 /G J. Then, as example of an excellent option of the Federal Commission of Electricity to finance with own resources budget them a new nuclear power station, the investment could redeem annually with the savings that it would represent to stop to burn natural gas when displacing the equivalent generation in central of combined cycle. (Author)

  18. Erectile dysfunction management options in Nigeria.

    Science.gov (United States)

    Afolayan, Anthony Jide; Yakubu, Musa Toyin

    2009-04-01

    In Nigeria, the prevalence of erectile dysfunction (ED) among patients attending primary care clinics, age-standardized to the U.S. population in 2000 is 57.4%. This is considered high enough to warrant the attention of scientist for critical studies and analysis. The high ED prevalence is associated with etiologies such as psychosexual factors, chronic medical conditions, and some lifestyles. ED constitutes a major public health problem, influencing the patient's well-being and quality of life. It also leads to broken homes and marriages, psychological, social, and physical morbidity. To give an account of various ED management options in Nigeria. Review of peer-reviewed literature, questionnaire, and ethnobotanical survey to some indigenous herb sellers and herbalists. Cross cultural perspectives of ED management in Nigeria. The review suggests that traditional (phytotherapy, zootherapy, and occultism) and nontraditional, orthodox practice (drug therapy, psychological, and behavioral counseling) are applicable to ED management in Nigeria. This review should help in creating awareness into various options available for managing ED in the country, but does not recommend self medication of any form, be it the use of orthodox or herbal remedy.

  19. 24 CFR 982.632 - Homeownership option: Financing purchase of home; affordability of purchase.

    Science.gov (United States)

    2010-04-01

    ... CHOICE VOUCHER PROGRAM Special Housing Types Homeownership Option § 982.632 Homeownership option... payment mortgages, establishment of a minimum homeowner equity requirement from personal resources, or...

  20. Do Ghanaian non-traditional exporters understand the importance of ...

    African Journals Online (AJOL)

    Do Ghanaian non-traditional exporters understand the importance of sales ... The older the firm in export business, the more likely it was for management to put in ... taking into consideration other factors like internet use and planning of sales ...

  1. The Impact of Intrinsic and Extrinsic Motivation on the Academic Achievement of Non-Traditional Undergraduate Students

    Science.gov (United States)

    Arce, Alma Lorenia

    2017-01-01

    Non-traditional students have become a growing component of the student population in today's college systems. Research has shown that non-traditional students are less likely to achieve academically and complete their degree programs compared to traditional students. The purpose of this quantitative, correlational study was to investigate the…

  2. Development and formative evaluation of a visual e-tool to help decision makers navigate the evidence around health financing.

    Science.gov (United States)

    Skordis-Worrall, Jolene; Pulkki-Brännström, Anni-Maria; Utley, Martin; Kembhavi, Gayatri; Bricki, Nouria; Dutoit, Xavier; Rosato, Mikey; Pagel, Christina

    2012-12-21

    There are calls for low and middle income countries to develop robust health financing policies to increase service coverage. However, existing evidence around financing options is complex and often difficult for policy makers to access. To summarize the evidence on the impact of financing health systems and develop an e-tool to help decision makers navigate the findings. After reviewing the literature, we used thematic analysis to summarize the impact of 7 common health financing mechanisms on 5 common health system goals. Information on the relevance of each study to a user's context was provided by 11 country indicators. A Web-based e-tool was then developed to assist users in navigating the literature review. This tool was evaluated using feedback from early users, collected using an online survey and in-depth interviews with key informants. The e-tool provides graphical summaries that allow a user to assess the following parameters with a single snapshot: the number of relevant studies available in the literature, the heterogeneity of evidence, where key evidence is lacking, and how closely the evidence matches their own context. Users particularly liked the visual display and found navigating the tool intuitive. However there was concern that a lack of evidence on positive impact might be construed as evidence against a financing option and that the tool might over-simplify the available financing options. Complex evidence can be made more easily accessible and potentially more understandable using basic Web-based technology and innovative graphical representations that match findings to the users' goals and context.

  3. Possible financing schemes for one-stop-shop service for sustainable renovation of single-family houses

    DEFF Research Database (Denmark)

    Mahapatra, Krushna; Gustavsson, Leif; Haavik, Trond

    energy use behaviour of the occupants and the difficulty to predict future energy prices. The options to finance energy efficiency renovations include homeowners’ own resources, mortgage refinancing, flex loan, personal loan, financing by service providers, preferential loan, subsidies/grants, credit...... for the homeowners, and banks will have a less risky asset in their portfolio. In situations where homeowners cannot avail additional mortgage financing, e.g. those who recently purchased a house and used the limit to such loans, banks may consider an energy efficient renovation plan prepared by an entrepreneur...

  4. Time-changed geometric fractional Brownian motion and option pricing with transaction costs

    Science.gov (United States)

    Gu, Hui; Liang, Jin-Rong; Zhang, Yun-Xiu

    2012-08-01

    This paper deals with the problem of discrete time option pricing by a fractional subdiffusive Black-Scholes model. The price of the underlying stock follows a time-changed geometric fractional Brownian motion. By a mean self-financing delta-hedging argument, the pricing formula for the European call option in discrete time setting is obtained.

  5. [Financing problems of capital goods. Part 2: procedure for investment appraisal].

    Science.gov (United States)

    Clausen, C C; Bauer, M; Saleh, A; Picker, O

    2008-07-01

    In part 1 of this series about problems of financing capital goods the multiple and partly diametric economic effects of financing instruments were presented using the leasing procedure as an example. The result indicated that due to the complexity of these effects the choice of a specific financing instrument requires an individual consideration. Therefore, part 2 of the series introduces the method of dynamic capital budgeting which allows the instruments discussed in part 1 to be compared with each other and helps to evaluate their economic benefits. More precisely this paper focuses on a comparative analysis of the most common alternatives, leasing, credit financing and investment financing by the state. In this context, after having identified the total costs of ownership of anesthesia devices, the final asset values of the three financing instruments can be compared with each other using the method of dynamic capital budgeting. In contrast to the prevailing opinion, the results show that from a purely fiscal perspective leasing anesthesia devices is the most expensive alternative. Given the fact that no financial support is available from the state, the option of credit financing turns out to be the most preferable alternative from a relatively limited pool of possibilities. However, it still remains to be answered whether credit financing can defend this position against further, innovative forms of debt financing (e.g., factoring, asset-backed securities, hedge funds, mezzanine capital, etc.).

  6. Women in Nontraditional Careers: Setting Them Up to Succeed.

    Science.gov (United States)

    Stenberg, Laurie; Tuchscherer, Jerry

    1992-01-01

    Idaho's Nontraditional-by-Gender Scholarship Program includes the following elements of success: provision of realistic information to women about jobs, support groups and peer advisors, placement, career fairs and on-campus interviews, business-labor-education partnerships, and career guidance and counseling. (SK)

  7. Health services financing and delivery: analysis of policy options for Dubai, United Arab Emirates

    Directory of Open Access Journals (Sweden)

    Hamidi S

    2015-02-01

    Full Text Available Samer Hamidi School of Health and Environmental Studies, Hamdan Bin Mohammed Smart University, Dubai, United Arab Emirates Introduction: A national health account (NHA provides a systematic approach to mapping the flow of health sector funds within a specified health system over a defined time period. This article attempts to present a profile of health system financing in Dubai, United Arab Emirates using data from NHAs, and to compare the functional structures of financing schemes in Dubai with schemes in Qatar and selected member countries of the Organization for Economic Cooperation and Development (OECD. Methods: The author analyzed secondary data published in NHAs of Dubai and Qatar and data collected by the OECD countries and publicly available from Eurostat (Statistical Office of the European Union of 25 OECD countries for comparative analysis. All health financing indicators used were as defined in the international System of Health Accounts (SHA. Results: In Dubai, spending on inpatient care was the highest-costing component, with 30% of current health expenditures (CHE. Spending on outpatient care was the second highest-costing component and accounted for about 23% of the CHE. Household spending accounted for about 22% of CHE (equivalent to US$187 per capita, compared to an average of 20% of CHE of OECD countries. Dubai spent 0.02% of CHE on long-term care, compared to an average of 11% of CHE of OECD countries. Dubai spent about 6% of CHE on prevention and public health services, compared to an average of 3.2% of CHE of OECD countries. Conclusion: The findings point to potential opportunities for growth and improvement in several health policy issues in Dubai, including increasing focus and funding of preventive services; shifting from inpatient care to day surgery, outpatient, and home-based services and strengthening long-term care; and introducing cost-containment measures for pharmaceuticals. More investment in the translation of

  8. Modern Finance, Methodology and the Global Crisis

    OpenAIRE

    Esteban Pérez Caldentey; Matías Vernengo

    2010-01-01

    Modern finance has a conceptually unified theoretical core that includes the efficient market hypothesis (EMH), the relationship between risk and return based on the Capital Asset Pricing Model (CAPM), the Modigliani-Miller theorems (M&M) and the Black-Scholes-Merton approach to option pricing. The core has been instrumental to the growth of the financial services industry, financial innovation, globalization, and deregulation. The significant impact of the core is explained by their success ...

  9. Financing Preference Behaviour for Private Finance Initiative (PFI Projects

    Directory of Open Access Journals (Sweden)

    Yati Md Lasa

    2016-01-01

    Full Text Available Project Financing Initiative (PFI projects require the private sector to invest an enormous amount of capital for the development of public projects. The private sector has to seek cost-effective financing sources for their survival in the long-term concession. Conventional financing uses widely; however, Islamic financing promises better financing through profit and loss sharing. This paper reviews financing preferences for PFI projects and the factors influencing the choice of funding. The results show that religious perspective, quality of services, financing facilities and reputation are the factors that are expected will influence the financing preference behaviour, either Islamic or conventional finance.

  10. The Adaptation Finance Gap Update - with insights from the INDCs

    DEFF Research Database (Denmark)

    Olhoff, Anne; Bee, Skylar; Puig, Daniel

    In 2014 the United Nations Environment Programme (UNEP) published its first global Adaptation Gap Report (AGR 2014) (UNEP, 2014), which put forward a preliminary framework for assessing adaptation gaps along with an initial assessment in three selected areas: finance, technology and knowledge....... Further to the positive reception of this report, several countries requested UNEP to produce follow up reports focusing on specific adaptation gaps. In response to these requests, UNEP has commissioned a new report with a special focus on finance gaps and options to bridge them. The report...... will be published in the spring of 2016. This update is intended as an input to discussions at the 21st session of the Conference of the Parties (COP 21) to the United Nations Framework Convention on Climate Change (UNFCCC). It brings together key findings on adaptation costs and finance from AGR 2014...

  11. Financing Strategies For A Nuclear Fuel Cycle Facility

    International Nuclear Information System (INIS)

    David Shropshire; Sharon Chandler

    2006-01-01

    To help meet the nation's energy needs, recycling of partially used nuclear fuel is required to close the nuclear fuel cycle, but implementing this step will require considerable investment. This report evaluates financing scenarios for integrating recycling facilities into the nuclear fuel cycle. A range of options from fully government owned to fully private owned were evaluated using DPL (Decision Programming Language 6.0), which can systematically optimize outcomes based on user-defined criteria (e.g., lowest lifecycle cost, lowest unit cost). This evaluation concludes that the lowest unit costs and lifetime costs are found for a fully government-owned financing strategy, due to government forgiveness of debt as sunk costs. However, this does not mean that the facilities should necessarily be constructed and operated by the government. The costs for hybrid combinations of public and private (commercial) financed options can compete under some circumstances with the costs of the government option. This analysis shows that commercial operations have potential to be economical, but there is presently no incentive for private industry involvement. The Nuclear Waste Policy Act (NWPA) currently establishes government ownership of partially used commercial nuclear fuel. In addition, the recently announced Global Nuclear Energy Partnership (GNEP) suggests fuels from several countries will be recycled in the United States as part of an international governmental agreement; this also assumes government ownership. Overwhelmingly, uncertainty in annual facility capacity led to the greatest variations in unit costs necessary for recovery of operating and capital expenditures; the ability to determine annual capacity will be a driving factor in setting unit costs. For private ventures, the costs of capital, especially equity interest rates, dominate the balance sheet; and the annual operating costs, forgiveness of debt, and overnight costs dominate the costs computed for the

  12. Financing Energy Upgrades for K-12 School Districts: A Guide to Tapping into Funding for Energy Efficiency and Renewable Energy Improvements

    Energy Technology Data Exchange (ETDEWEB)

    Goggio Borgeson, Merrian [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States). Environmental Energy Technologies Division; Zimring, Mark [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States). Environmental Energy Technologies Division

    2013-04-01

    This guide focuses on clean energy financing options for school administrators, facility managers, and other K-12 school decision makers who are considering investments in high performance school projects. This guide explicitly focuses on comprehensive energy upgrades, those that involve multiple measures and are targeted toward achieving significant energy savings. Successful implementation of clean energy upgrades in schools is a matter of understanding the opportunity, making the commitment, and creatively tapping into available financing. This guide attempts to provide the foundation needed for successful projects in U.S. schools. It walks through the financing options available to K-12 schools and provides case studies of six school districts from around the country.

  13. An exploration of on-line access by non-traditional students in higher education: a case study.

    Science.gov (United States)

    Dearnley, Chris; Dunn, Ginny; Watson, Sue

    2006-07-01

    The nature of Higher Education (HE) has seen many changes throughout the last decade. The agenda for widening participation in HE has led to an increase in the number of students with a broader range of educational backgrounds. At the same time there has been a surge in the development of digitalisation and the convergence of computing and telecommunications technologies available for use in education. This paper discusses the outcomes of a case study, conducted in a School of Health Studies within a northern English University, which identified the extent to which 'non-traditional' students access on-line learning facilities, such as virtual learning environments and library networks, and what factors enhanced or formed barriers to access. 'Non-traditional' students, for the purpose of this study, were defined as mature students who were returning to higher education after a considerable break. The outcomes indicated that skill deficit is a major obstacle for many 'non-traditional' students. The paper explores this issue in depth and suggests potential ways forward for the delivery of technology supported learning for 'non-traditional' students in Higher Education.

  14. Developing Guidelines for the Use of Nontraditional Educational Interventions.

    Science.gov (United States)

    Wood, Frank

    The paper outlines guidelines for developing policy on use of nontraditional educational interventions (such as timeout, aversive stimulation, biofeedback, behavior modification, relaxation therapy, and group meetings) with behavior disordered students. A model policy statement on the use of isolation rooms is presented. Such a statement should…

  15. Change of time methods in quantitative finance

    CERN Document Server

    Swishchuk, Anatoliy

    2016-01-01

    This book is devoted to the history of Change of Time Methods (CTM), the connections of CTM to stochastic volatilities and finance, fundamental aspects of the theory of CTM, basic concepts, and its properties. An emphasis is given on many applications of CTM in financial and energy markets, and the presented numerical examples are based on real data. The change of time method is applied to derive the well-known Black-Scholes formula for European call options, and to derive an explicit option pricing formula for a European call option for a mean-reverting model for commodity prices. Explicit formulas are also derived for variance and volatility swaps for financial markets with a stochastic volatility following a classical and delayed Heston model. The CTM is applied to price financial and energy derivatives for one-factor and multi-factor alpha-stable Levy-based models. Readers should have a basic knowledge of probability and statistics, and some familiarity with stochastic processes, such as Brownian motion, ...

  16. Access to finance from different finance provider types

    NARCIS (Netherlands)

    Wulandari, Eliana; Meuwissen, Miranda P.M.; Karmana, Maman H.; Oude Lansink, Alfons G.J.M.

    2017-01-01

    Analysing farmer knowledge of the requirements of finance providers can provide valuable insights to policy makers about ways to improve farmers’ access to finance. This study compares farmer knowledge of the requirements to obtain finance with the actual requirements set by different finance

  17. Traditional and non-traditional educational outcomes : Trade-off or complementarity?

    NARCIS (Netherlands)

    van der Wal, Marieke; Waslander, Sietske

    2007-01-01

    Recently, schools have increasingly been charged with enhancing non-traditional academic competencies, in addition to traditional academic competencies. This article raises the question whether schools can implement these new educational goals in their curricula and simultaneously realise the

  18. Project Finance Model for Small Contractors in USA

    Directory of Open Access Journals (Sweden)

    Jawahar Nesan

    2012-11-01

    Full Text Available Construction projects do not require a large capital outlay but a large working capital to start up the project. Unfortunately, for small contractors there are very limited options available from the banks or other lending institutions to cover this large working capital requirement in the absence of sufficient collateral. The “Project Finance” method presented in this paper is recommended as the most effective method for small contractors in the United States. The problems of small and start up contractors in funding their projects have been little addressed in the literature. The current financing practices were observed through both the literature review and interviews with contractors and bankers in the western Michigan area and subsequently a system has been proposed which could help a small start-up company seeking higher growth. The growth rates that can be achieved using the project finance system in contrast to the traditional “line of credit” arrangements as illustrated in this paper show that the project finance model is beneficial.

  19. Decommissioning of nuclear installations - regulations - financing - responsibility - insurance

    International Nuclear Information System (INIS)

    Hubert, E.H.; Andersson, C.; Deprimoz, J.; Mayoux, J.C.; Richard, M.; Sartorelli, C.; Nocera, F.

    1983-01-01

    This paper highlights three aspects of decommissioning of nuclear installations which relate, more or less directly, to legal options already applied or advocated. It reviews the regulatory conditions for decommissioning a nuclear installation and indicates legal provisions for financing decommissioning expenditures. It also describes the legal provisions to determine liabilities in case of nuclear damage and the assistance which insurers may provide to cover the consequences of such liabilities. (NEA) [fr

  20. Risk management with options and futures under liquidity risk

    OpenAIRE

    Adam-Müller, A F A; Panaretou, A

    2009-01-01

    Futures hedging creates liquidity risk through marking to market. Liquidity risk matters if interim losses on a futures position have to be financed at a markup over the risk-free rate. This study analyzes the optimal risk management and production decisions of a firm facing joint price and liquidity risk. It provides a rationale for the use of options on futures in imperfect capital markets. If liquidity risk materializes, the firm sells options on futures in order to partly cover this liqui...

  1. Borrow or Serve? An Economic Analysis of Options for Financing a Medical School Education.

    Science.gov (United States)

    Marcu, Mircea I; Kellermann, Arthur L; Hunter, Christine; Curtis, Jerri; Rice, Charles; Wilensky, Gail R

    2017-07-01

    To understand the long-term economic implications of key pathways for financing a medical school education. The authors calculated the net present value (NPV) of cash flow over a 30-year career for a 2013 matriculant associated with (1) self-financing, (2) federally guaranteed loans, (3) the Public Service Loan Forgiveness program, (4) the National Health Service Corps, (5) the Armed Forces Health Professions Scholarship Program, and (6) matriculation at the Uniformed Services University of the Health Sciences. They calculated the NPV for students pursuing one of four specialties in two cities with divergent tax policies. Borrowers were assumed to have a median level of debt ($180,000), and conservative projections of inflation, discount rates, and income growth were employed. Sensitivity analyses examined different discount and income growth rates, alternative repayment strategies, and various lengths of public-sector service by scholarship recipients. For those wealthy enough to pay cash or fortunate enough to secure a no-strings scholarship, self-financing produced the highest NPV in almost every scenario. Borrowers start practice $300,000 to $400,000 behind their peers who secure a national service scholarship, but those who enter a highly paid specialty, such as orthopedic surgery, overtake their national service counterparts 4 to 11 years after residency. Those in lower-paid specialties take much longer. Borrowers who enter primary care never close the gap. Over time, the value of a medical degree offsets the high up-front cost. Debt avoidance confers substantial economic benefits, particularly for students interested in primary care.

  2. AUTONOMOUS LEARNING STRATEGY OF THE SUCCESSFUL NONTRADITIONAL STUDENTS

    Directory of Open Access Journals (Sweden)

    Siti Zulaihah

    2017-12-01

    Full Text Available Most students of English Education Program in STKIP PGRI Ponorogo can be considered as nontraditional students with family, work, and other life responsibilities which have many influences on their educational goals. Autonomous learning is a customized way of learning applied by individual to find out his own learning needs and learning goals, decide the most appropriate way for his own learning, as well as to monitor and evaluate the learning progress. This research used qualitative descriptive method. The primary techniques in data collection were questionnaire, and interview. In general, the most influential motivation for the students was internal motivation. Advisor’s availability, text book, internet, supportive atmosphere, self discipline, cozy and quiet place, and early morning were among the students’ choices for their autonomous learning. They frequently used music, film, video, essay, and smart phone application in their study. In general, the nontraditional students with high achievement were often felt easy to understand the material especially when it was delivered in relatively “easy” language, expressed their opinion bravely, and patient in doing their tasks. They considered friends, best friends, and lecturer as people who were capable to help them in doing autonomous learning

  3. Export diversification in Uganda : developments in non-traditional agricultural exports

    NARCIS (Netherlands)

    Dijkstra, T.

    2001-01-01

    Over the last two decades agricultural export diversification has been pushed as an economic development strategy for sub-Saharan Africa. This paper looks at Uganda, where nontraditional agricultural export commodities have been (re)-introduced since Museveni came to power in 1986. The most

  4. Wider Opportunities for Women Nontraditional Work Programs: A Guide.

    Science.gov (United States)

    Wider Opportunities for Women, Inc., Washington, DC.

    Since 1970, Wider Opportunities for Women (WOW), in Washington, D.C., has conducted programs to train and place disadvantaged women in nontraditional jobs. The results have been record-breaking: high placement rates, high job retention rates, good starting salaries, and upward mobility for women who seemed doomed to a life of poverty and…

  5. Non-Traditional Authorship Attribution Studies of William Shakespeare’s Canon: Some Caveats

    Directory of Open Access Journals (Sweden)

    Joseph Rudman

    2016-03-01

    Full Text Available The paper looks at the problems in conducting non-traditional authorship attribution studies on the canon of William Shakespeare. After a short introduction, the case is put forth that these studies are ‘scientific’ and must adhere to the tenets of the scientific method. By showing that a complete and valid experimental plan is necessary and pointing out the many and varied pitfalls (e.g., the text, the control groups, the treatment of errors, it becomes clear what a valid study of Shakespearean non-traditional authorship attribution demands. I then come to the conclusion that such a valid study is not attainable with the limits of present-day knowledge.

  6. Financing pharmaceuticals in transition economies.

    Science.gov (United States)

    Kanavos, P

    1999-06-01

    This paper (a) provides a methodological taxonomy of pricing, financing, reimbursement, and cost containment methodologies for pharmaceuticals; (b) analyzes complex agency relationships and the health versus industrial policy tradeoff; (c) pinpoints financing measures to balance safety and effectiveness of medicines and their affordability by publicly funded systems in transition; and (d) highlights viable options for policy-makers for the financing of pharmaceuticals in transition. Three categories of measures and their implications for pharmaceutical policy cost containing are analyzed: supply-side measures, targeting manufacturers, proxy demand-side measures, targeting physicians and pharmacists, and demand-side measures, targeting patients. In pursuing supply side measures, we explore free pricing for pharmaceuticals, direct price controls, cost-plus and cost pricing, average pricing and international price comparisons, profit control, reference pricing, the introduction of a fourth hurdle, positive and negative lists, and other price control measures. The analysis of proxy-demand measures includes budgets for physicians, generic policies, practice guidelines, monitoring the authorizing behavior of physicians, and disease management schemes. Demand-side measures explore the effectiveness of patient co-payments, the impact of allowing products over-the-counter and health promotion programs. Global policies should operate simultaneously on the supply, the proxy demand, and the demand-side. Policy-making needs to have a continuous long-term planning. The importation of policies into transition economy may require extensive and expensive adaptation, and/or lead to sub-optimal policy outcomes.

  7. Fractal asset returns, arbitrage and option pricing

    International Nuclear Information System (INIS)

    Potgieter, Petrus H.

    2009-01-01

    In the discrete-time fractional random walk model a market with one risky asset affords an arbitrage opportunity as described by Cutland et al. [Cutland NJ, Kopp PE, Willinger W. Stock price returns and the Joseph effect: a fractional version of the Black-Scholes model. In: Russo Francesco, Bolthausen Erwin, Dozzi Marco, editors. Seminar on 6 stochastic analysis, random fields and applications, pp. 327-351. Seminar on stochastic analysis, random fields and applications. Ascona: Centro Stefano Franscini; 1993, Progress in probability 36. Birkhauser Verlag; 1995.] and Sottinen [Sottinen Tommi. Fractional Brownian motion, random walks and binary market models. Finance Stoch 2001;5(3):343-355]. We briefly discuss these results and compute a numerical example in a fractional binomial model as illustration and mention an option pricing model for assets the returns of which are driven by a fractional Brownian motion [Yaozhong Hu, Bernt Oksendal. Fractional white noise calculus and applications to finance. Infin Dimens Anal Quant Probability Rel Top 2003;6:1-32, ISSN 0219-0257; Fajardo J, Cajueiro DO. Volatility estimation and option pricing with fractional Brownian motion, October 2003. Available from: (http://ideas.repec.org/p/ibm/finlab/flwp53.html)].

  8. The Pleasures and Pitfalls of a Non-traditional Occupation.

    Science.gov (United States)

    Scott, Robert E.

    Both men and women who engage in non-traditional occupations (occupations in which 80 percent or more of the participants are of the opposite sex) are generally happy with their occupational choice, according to interviews with seventy such women and ten men. The women, however, experienced more discrimination and sexual harassment, while the men…

  9. Enrollment in Distance Education Classes Is Associated with Fewer Enrollment Gaps among Nontraditional Undergraduate Students in the US

    Science.gov (United States)

    Pontes, Manuel C. F.; Pontes, Nancy M. H.

    2012-01-01

    The purpose of this research is to determine whether nontraditional undergraduate students in the US who enroll in distance education classes are less likely to have an enrollment gap (enrollment gap=part year enrollment). Previous research has shown that preference for distance education classes is significantly greater among nontraditional than…

  10. New perspective of real options theory for policy analysis

    NARCIS (Netherlands)

    Sadowski, B.M.

    2007-01-01

    In deze Reflectie geeft Sadowski een alternatief, of eigenlijk een aanvulling op de KBA, vanuit de real options theory, zoals die ook in de financiële sector gebruikt wordt. Het idee is dat er in dynamische markten veel ontwikkelingen zijn: technologisch, een markt in beweging of industriële

  11. INVESTMENT FINANCING THROUGH THE "PROJECT FINANCE"

    OpenAIRE

    Molina Arenaza, Hércules; Del Carpio Gallegos, Javier

    2014-01-01

    This article analizes and compares the various aspects related to the "Project Finance" technique using projects financing in the Capital Market, both in developed countries and in developing countries. Likewise, the application's technique is illustrated by Antamina mining enterprise. El artículo analiza y compara los diferentes aspectos relacionados con la técnica del Project finance usado en el financiamiento de proyectos en el mercado de capitales, tanto en los países desarrollados com...

  12. Export contracts for non-traditional products: Chayote from Costa Rica

    NARCIS (Netherlands)

    Saénz, F.; Ruben, R.

    2004-01-01

    This paper focuses on the determinants of market and contract choice for non-traditional crops and the possibilities for involving local producers in global agro-food chains through delivery relationships with packers and brokers. Main attention is given to the importance of quality for entering the

  13. Project financing versus corporate financing under asymmetric information

    OpenAIRE

    Anton Miglo

    2008-01-01

    In recent years financing through the creation of an independent project company or financing by non-recourse debt has become an important part of corporate decisions. Shah and Thakor (JET, 1987) argue that project financing can be optimal when asymmetric information exists between firm's insiders and market participants. In contrast to that paper, we provide an asymmetric information argument for project financing without relying on corporate taxes, costly information production or an assump...

  14. Impact of Tax Relief on Public Finance

    Directory of Open Access Journals (Sweden)

    Bikas Egidijus

    2016-12-01

    Full Text Available Tax reliefs are optional, but a very important element of the taxation system. This element is used for different purposes by a country’s government institutions. Tax reliefs are a form of tax expenditure that helps to reduce budget revenues. Tax reliefs influence individual and corporate financial behaviour and can have positive or negative effects on the economic and social factors. In the last few years, expansion of tax relief has attracted worldwide attention because of the fact that, after the global financial crisis, many countries are still suffering from fiscal deficits, and expansion of tax relief has not contributed to solving this problem. Tax reliefs are presupposed to be a fiscal policy tool of significance in various subsystems of public finances. The main aim of this article is to examine the impact of personal income tax reliefs on Lithuanian public finances. To achieve this aim, statistical information was systemized; Monte Carlo method was used to group data by horizontal rows and logical links analysed, which helped to evaluate the influence of tax reliefs on public finances. In the simulations, the Monte Carlo method helped to simulate random samples, which were then examined by adapting the conclusions of the theory of probability and mathematical statistics methods.

  15. Student learning or the student experience: the shift from traditional to non-traditional faculty in higher education

    Directory of Open Access Journals (Sweden)

    Carlos Tasso Eira de Aquino

    2016-10-01

    Full Text Available Trends in higher education indicate transformations from teachers to facilitators, mentors, or coaches. New classroom management requires diverse teaching methods for a changing population. Non-traditional students require non-traditional faculty. Higher education operates similar to a traditional corporation, but competes for students, faculty, and funding to sustain daily operations and improve academic ranking among peers (Pak, 2013. This growing phenomenon suggests the need for faculty to transform the existing educational culture, ensuring the ability to attract and retain students. Transitions from student learning to the student experience and increasing student satisfaction scores are influencing facilitation in the classroom. On-line facilitation methods are transforming to include teamwork, interactive tutorials, media, and extending beyond group discussion. Faculty should be required to provide more facilitation, coaching, and mentoring with the shifting roles resulting in transitions from traditional faculty to faculty-coach and faculty mentor. The non-traditional adult student may require a more hands on guidance approach and may not be as self-directed as the adult learning theory proposes. This topic is important to individuals that support creation of new knowledge related to non-traditional adult learning models.

  16. Rethinking energy security in Asia. A non-traditional view of human security

    Energy Technology Data Exchange (ETDEWEB)

    Caballero-Anthony, Mely [Nanyang Technological Univ., Singapore (SG). Centre for Non-Traditional Security (NTS) Studies; Chang, Youngho [Nanyang Technological Univ., Singapore (Singapore). Division of Economics; Putra, Nur Azha (eds.) [National Univ. of Singapore (Singapore). Energy Security Division

    2012-07-01

    Traditional notions of security are premised on the primacy of state security. In relation to energy security, traditional policy thinking has focused on ensuring supply without much emphasis on socioeconomic and environmental impacts. Non-traditional security (NTS) scholars argue that threats to human security have become increasingly prominent since the end of the Cold War, and that it is thus critical to adopt a holistic and multidisciplinary approach in addressing rising energy needs. This volume represents the perspectives of scholars from across Asia, looking at diverse aspects of energy security through a non-traditional security lens. The issues covered include environmental and socioeconomic impacts, the role of the market, the role of civil society, energy sustainability and policy trends in the ASEAN region.

  17. Pricing early-exercise and discrete barrier options by Shannon wavelet expansions

    NARCIS (Netherlands)

    Maree, S. C.; Ortiz-Gracia, L.; Oosterlee, C. W.

    2017-01-01

    We present a pricing method based on Shannon wavelet expansions for early-exercise and discretely-monitored barrier options under exponential L,vy asset dynamics. Shannon wavelets are smooth, and thus approximate the densities that occur in finance well, resulting in exponential convergence.

  18. Health services financing and delivery: analysis of policy options for Dubai, United Arab Emirates

    Science.gov (United States)

    Hamidi, Samer

    2015-01-01

    Introduction A national health account (NHA) provides a systematic approach to mapping the flow of health sector funds within a specified health system over a defined time period. This article attempts to present a profile of health system financing in Dubai, United Arab Emirates using data from NHAs, and to compare the functional structures of financing schemes in Dubai with schemes in Qatar and selected member countries of the Organization for Economic Cooperation and Development (OECD). Methods The author analyzed secondary data published in NHAs of Dubai and Qatar and data collected by the OECD countries and publicly available from Eurostat (Statistical Office of the European Union) of 25 OECD countries for comparative analysis. All health financing indicators used were as defined in the international System of Health Accounts (SHA). Results In Dubai, spending on inpatient care was the highest-costing component, with 30% of current health expenditures (CHE). Spending on outpatient care was the second highest-costing component and accounted for about 23% of the CHE. Household spending accounted for about 22% of CHE (equivalent to US$187 per capita), compared to an average of 20% of CHE of OECD countries. Dubai spent 0.02% of CHE on long-term care, compared to an average of 11% of CHE of OECD countries. Dubai spent about 6% of CHE on prevention and public health services, compared to an average of 3.2% of CHE of OECD countries. Conclusion The findings point to potential opportunities for growth and improvement in several health policy issues in Dubai, including increasing focus and funding of preventive services; shifting from inpatient care to day surgery, outpatient, and home-based services and strengthening long-term care; and introducing cost-containment measures for pharmaceuticals. More investment in the translation of NHA data into policy is suggested for future researchers. PMID:25750545

  19. Health services financing and delivery: analysis of policy options for Dubai, United Arab Emirates.

    Science.gov (United States)

    Hamidi, Samer

    2015-01-01

    A national health account (NHA) provides a systematic approach to mapping the flow of health sector funds within a specified health system over a defined time period. This article attempts to present a profile of health system financing in Dubai, United Arab Emirates using data from NHAs, and to compare the functional structures of financing schemes in Dubai with schemes in Qatar and selected member countries of the Organization for Economic Cooperation and Development (OECD). The author analyzed secondary data published in NHAs of Dubai and Qatar and data collected by the OECD countries and publicly available from Eurostat (Statistical Office of the European Union) of 25 OECD countries for comparative analysis. All health financing indicators used were as defined in the international System of Health Accounts (SHA). In Dubai, spending on inpatient care was the highest-costing component, with 30% of current health expenditures (CHE). Spending on outpatient care was the second highest-costing component and accounted for about 23% of the CHE. Household spending accounted for about 22% of CHE (equivalent to US$187 per capita), compared to an average of 20% of CHE of OECD countries. Dubai spent 0.02% of CHE on long-term care, compared to an average of 11% of CHE of OECD countries. Dubai spent about 6% of CHE on prevention and public health services, compared to an average of 3.2% of CHE of OECD countries. The findings point to potential opportunities for growth and improvement in several health policy issues in Dubai, including increasing focus and funding of preventive services; shifting from inpatient care to day surgery, outpatient, and home-based services and strengthening long-term care; and introducing cost-containment measures for pharmaceuticals. More investment in the translation of NHA data into policy is suggested for future researchers.

  20. Factors across home, work, and school domains influence nutrition and physical activity behaviors of nontraditional college students.

    Science.gov (United States)

    Quintiliani, Lisa M; Bishop, Hillary L; Greaney, Mary L; Whiteley, Jessica A

    2012-10-01

    Nontraditional college students (older, part-time, and/or working) have less healthful nutrition and physical activity behaviors compared to traditional students, yet few health promotion efforts focus on nontraditional students. The purpose of this study was to use qualitative methods to explore factors affecting nutrition and physical activity behaviors of nontraditional students. Fourteen semi-structured individual interviews were conducted with nontraditional undergraduate students attending a large university. The sample had a median age of 25 (range, 21-64), 57% were men, 43% were racial/ethnic minorities, and 57% were employed (mean 22 hours/week). Data were coded using a systematic team-based approach. Consistent themes (mentioned by 4+ students) were identified and categorized into three domains: home, work, and school. Home (themes: neighborhood characteristics, family, partners), work (theme: work environment), and school (themes: cafeteria, vending machines) factors consistently influenced positive nutrition behaviors. Similarly, home (themes: neighborhood including safety, friends from home, partner,), work (theme: work environment), and school (themes: not having a car, campus structure, campus gym, friends at school) factors consistently influenced positive physical activity. Financial resources and perceptions of autonomy had influence across domains. Results indicate consistent influences on nutrition and physical activity behaviors across home, work, and school domains for nontraditional college students. Study findings suggest possible, and sometimes unconventional, intervention strategies to promote healthful eating and physical activity. For example, when cafeteria meal plans are not offered and financial constraints limit eating at the cafeteria, encouraging healthful choices from vending machines could be preferable to not eating at all. Copyright © 2012 Elsevier Inc. All rights reserved.

  1. Financing options for oil and gas ventures with First Nations

    International Nuclear Information System (INIS)

    Gartner, L.

    1999-01-01

    Royal Bank Financial Group has a long history of service to the Aboriginal community having supported Aboriginal initiatives with specialized products or educational programs and grants. An overview is included of recent initiatives including partnerships with the Inuit Tapirisat of Canada, the Metis National Council, First Nations and the Council for the Advancement of Native Development Officers. The bank's Aboriginal employee focus groups in several provinces provide advice and guidance on Aboriginal banking requirements and employment/training needs. Royal Trust is the only financial institution to establish a national Aboriginal Advisory Service for Aboriginal communities for investment, trust and land claim settlement services. Royal Bank donated $25,000 to the Council for the Advancement of Native Development Officers to promote entrepreneurial training seminars and a university accredited curriculum for Aboriginal Economic Development Officers. The Bank supports and encourages employees to serve with organizations such as Aboriginal Capital Corporations, National Association of Financing Centres and various Native Employment Services associations

  2. Financing the HIV response in sub-Saharan Africa from domestic sources: Moving beyond a normative approach.

    Science.gov (United States)

    Remme, Michelle; Siapka, Mariana; Sterck, Olivier; Ncube, Mthuli; Watts, Charlotte; Vassall, Anna

    2016-11-01

    Despite optimism about the end of AIDS, the HIV response requires sustained financing into the future. Given flat-lining international aid, countries' willingness and ability to shoulder this responsibility will be central to access to HIV care. This paper examines the potential to expand public HIV financing, and the extent to which governments have been utilising these options. We develop and compare a normative and empirical approach. First, with data from the 14 most HIV-affected countries in sub-Saharan Africa, we estimate the potential increase in public HIV financing from economic growth, increased general revenue generation, greater health and HIV prioritisation, as well as from more unconventional and innovative sources, including borrowing, health-earmarked resources, efficiency gains, and complementary non-HIV investments. We then adopt a novel empirical approach to explore which options are most likely to translate into tangible public financing, based on cross-sectional econometric analyses of 92 low and middle-income country governments' most recent HIV expenditure between 2008 and 2012. If all fiscal sources were simultaneously leveraged in the next five years, public HIV spending in these 14 countries could increase from US$3.04 to US$10.84 billion per year. This could cover resource requirements in South Africa, Botswana, Namibia, Kenya, Nigeria, Ethiopia, and Swaziland, but not even half the requirements in the remaining countries. Our empirical results suggest that, in reality, even less fiscal space could be created (a reduction by over half) and only from more conventional sources. International financing may also crowd in public financing. Most HIV-affected lower-income countries in sub-Saharan Africa will not be able to generate sufficient public resources for HIV in the medium-term, even if they take very bold measures. Considerable international financing will be required for years to come. HIV funders will need to engage with broader

  3. The EPSA Project Finance Mapping Tool

    Energy Technology Data Exchange (ETDEWEB)

    Hadley, Stanton W. [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Chinthavali, Supriya [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)

    2016-07-01

    The Energy Policy and Systems Analysis Office of DOE has requested a tool to compare the impact of various Federal policies on the financial viability of generation resources across the country. Policy options could include production tax credits, investment tax credits, solar renewable energy credits, tax abatement, accelerated depreciation, tax-free loans, and others. The tool would model the finances of projects in all fifty states, and possibly other geographic units like utility service territories and RTO/ISO territories. The tool would consider the facility s cost, financing, production, and revenues under different capital and market structures to determine things like levelized cost of energy, return on equity, and cost impacts on others (e.g., load-serving entities, society.) The tool would compare the cost and value of the facility to the local regional alternatives to determine how and where policy levers may provide sufficient incremental value to motivate investment. The results will be displayed through a purpose-built visualization that maps geographic variations and shows associated figures and tables.

  4. Risky forward interest rates and swaptions: Quantum finance model and empirical results

    Science.gov (United States)

    Baaquie, Belal Ehsan; Yu, Miao; Bhanap, Jitendra

    2018-02-01

    Risk free forward interest rates (Diebold and Li, 2006 [1]; Jamshidian, 1991 [2 ]) - and their realization by US Treasury bonds as the leading exemplar - have been studied extensively. In Baaquie (2010), models of risk free bonds and their forward interest rates based on the quantum field theoretic formulation of the risk free forward interest rates have been discussed, including the empirical evidence supporting these models. The quantum finance formulation of risk free forward interest rates is extended to the case of risky forward interest rates. The examples of the Singapore and Malaysian forward interest rates are used as specific cases. The main feature of the quantum finance model is that the risky forward interest rates are modeled both a) as a stand-alone case as well as b) being driven by the US forward interest rates plus a spread - having its own term structure -above the US forward interest rates. Both the US forward interest rates and the term structure for the spread are modeled by a two dimensional Euclidean quantum field. As a precursor to the evaluation of put option of the Singapore coupon bond, the quantum finance model for swaptions is tested using empirical study of swaptions for the US Dollar -showing that the model is quite accurate. A prediction for the market price of the put option for the Singapore coupon bonds is obtained. The quantum finance model is generalized to study the Malaysian case and the Malaysian forward interest rates are shown to have anomalies absent for the US and Singapore case. The model's prediction for a Malaysian interest rate swap is obtained.

  5. Reaching the Non-Traditional Stopout Population: A Segmentation Approach

    Science.gov (United States)

    Schatzel, Kim; Callahan, Thomas; Scott, Crystal J.; Davis, Timothy

    2011-01-01

    An estimated 21% of 25-34-year-olds in the United States, about eight million individuals, have attended college and quit before completing a degree. These non-traditional students may or may not return to college. Those who return to college are referred to as stopouts, whereas those who do not return are referred to as stayouts. In the face of…

  6. Understanding complex dynamics in derivatives finance: why do options markets smile?

    NARCIS (Netherlands)

    Qiu, G.; Kandhai, D.; Johnson, N.F.; Sloot, P.M.A.

    2012-01-01

    The origin of the volatility smile phenomenon observed in options markets has eluded the financial world for more than two decades. We provide a new explanation of this phenomenon using a microscopic multi-agent description of markets. In our model individual trading behavior is explicitly included

  7. Testing Algorithmic Skills in Traditional and Non-Traditional Programming Environments

    Science.gov (United States)

    Csernoch, Mária; Biró, Piroska; Máth, János; Abari, Kálmán

    2015-01-01

    The Testing Algorithmic and Application Skills (TAaAS) project was launched in the 2011/2012 academic year to test first year students of Informatics, focusing on their algorithmic skills in traditional and non-traditional programming environments, and on the transference of their knowledge of Informatics from secondary to tertiary education. The…

  8. Privatization Financing Alternatives: Blending Private Capital and Public Resources for a Successful Project

    Energy Technology Data Exchange (ETDEWEB)

    BT Oakley; JH Holbrook; L Scully; MR Weimar; PK Kearns; R DiPrinzio

    1998-10-19

    The U.S. Department of Energy (DOE) launched the Contract Reform Initiative in 1994 in order to improve the effectiveness and effkiency of managing major projects and programs. The intent of this initiative is to help DOE harness both technical and market forces to reduce the overall cost of accomplishing DOE's program goals. The new approach transfers greater risk to private contractors in order to develop incentives that align contractor performance with DOE's objectives. In some cases, this goal can be achieved through public-private partnerships wherein the govermhent and the contractor share risks associated with a project in a way that optimizes its economics. Generally, this requires that project risks are allocated to the party best equipped to manage and/or underwrite them. While the merits of privatization are well documented, the question of how privatized services should be financed is often debated. Given the cost of private sector equity and debt, it is difficult to ignore the lure of the government's "risk free" cost of capital. However, the source of financing for a project is an integral part of its overall risk allocation, and therefore, participation by the government as a financing source could alter the allocation of risks in the project, diminishing the incentive structure. Since the government's participation in the project's financing often can be a requirement for financial feasibility, the dilemma of structuring a role for the government without undermining the success of the project is a common and difficult challenge faced by policymakers around the world. However, before reverting to a traditional procurement approach where the government enters into a cost-plus risk profile, the government should exhaust all options that keep the private entity at risk for important aspects of the project. Government participation in a project can include a broad range of options and can be applied with precision to bridge a

  9. Food and Health in Rural Lebanon : Options to Improve Dietary ...

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

    22 mars 2009 ... The overall goal is to devise practical interventions and policy options for improving dietary diversity, food security and health in poor and vulnerable Lebanese ... L'honorable Chrystia Freeland, ministre du Commerce international, a annoncé le lancement d'un nouveau projet financé par le Centre de ...

  10. NON-TRADITIONAL SPORTS AT SCHOOL. BENEFITS FOR PHYSICAL AND MOTOR DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    AMADOR J. LARA-SÁNCHEZ

    2010-12-01

    Full Text Available Physical Education teachers have been using some very classic team sports, like football, basketball, handball, volleyball, etc. for many years in order to develop their education work at school. As a consequence of this, the benefits of this kind of activities on Physical Education lessons have not been as notable as we mighthave expected, since, even if they are increasing, their development and application are still low. There are many and very varied new non-traditional sports that have emerged and extended across Spain in recent years. To mention an example, we could refer to a newly created non-traditional sport such as kin-ball. This sport wascreated for the purpose of achieving a way to combine several factors such as health, team-work and competitiveness. Three teams of four players each participate. This way, every player can participate to a great extent in all the moves of the match, for each of them must defend one area of their half in order to achieve a common objective. Besides, kin-ball helps to develop motor skills at school in an easy way; that is, coordination, balance and perception. There is a large variety of non-traditional games and sports that are similar to kin-ball, such as floorball, intercrosse, mazaball, tchoukball, ultimate, indiaca, shuttleball... All of them show many physical, psychic and social advantages, and can help us to make the Physical Education teaching-learning process more motivating, acquiring the recreational component that it showed some years ago and which hasnow disappeared

  11. Project financing

    International Nuclear Information System (INIS)

    Cowan, A.

    1998-01-01

    Project financing was defined ('where a lender to a specific project has recourse only to the cash flow and assets of that project for repayment and security respectively') and its attributes were described. Project financing was said to be particularly well suited to power, pipeline, mining, telecommunications, petro-chemicals, road construction, and oil and gas projects, i.e. large infrastructure projects that are difficult to fund on-balance sheet, where the risk profile of a project does not fit the corporation's risk appetite, or where higher leverage is required. Sources of project financing were identified. The need to analyze and mitigate risks, and being aware that lenders always take a conservative view and gravitate towards the lowest common denominator, were considered the key to success in obtaining project financing funds. TransAlta Corporation's project financing experiences were used to illustrate the potential of this source of financing

  12. A closed form solution for vulnerable options with Heston’s stochastic volatility

    International Nuclear Information System (INIS)

    Lee, Min-Ku; Yang, Sung-Jin; Kim, Jeong-Hoon

    2016-01-01

    Over-the-counter stock markets in the world have been growing rapidly and vulnerability to default risks of option holders traded in the over-the-counter markets became an important issue, in particular, since the global finance crisis and Eurozone crisis. This paper studies the pricing of European-type vulnerable options when the underlying asset follows the Heston dynamics. In this paper, we obtain a closed form analytic formula of the option price as a stochastic volatility extension of the classical Heston formula and find how the stochastic volatility effect on the Black–Scholes price as well as on the decreasing speed of the option price with credit risk depends on moneyness.

  13. Nontraditional Fog Seal for Asphalt Pavement : Performance on Shoulder Sections in Minnesota

    Science.gov (United States)

    2018-05-01

    The pavement engineering community has recently been introduced to a number of nontraditional products intended for uses as surface sealers for bituminous pavements. Many new products use agricultural-based components and little is known regarding th...

  14. The impact of gender ideologies on men's and women's desire for a traditional or non-traditional partner

    OpenAIRE

    Thomae, M.; Houston, Diane

    2016-01-01

    Two studies examine preferences for a long-term partner who conforms to traditional or non- traditional gender\\ud roles. The studies both demonstrate a link between benevolent sexism and preference for a traditional partner.\\ud However, Study 1 also demonstrates a strong preference among women for a non-traditional partner. We measured\\ud ambivalent sexist ideologies before introducing participants to either a stereotypically traditional or stereotypically non-traditional character of the opp...

  15. Innovative Forms of Financing the Creation and Development of Small Business

    Directory of Open Access Journals (Sweden)

    Yermak Svitlana O.

    2017-06-01

    Full Text Available For small enterprises, unlike large ones, the issue of fundraising emerges both in the process of their creation, development and current activity. Small enterprises are experiencing quite a high demand for additional sources of financing. The aim of the research is to study innovative forms of financing the creation and development of small enterprises, their advantages and disadvantages. At present in addition to traditional ways of raising capital, such as bank loans or public offering of shares among external investors (IPOs, there exist a number of alternative options. Among them the most common are grants, international programs, loans from international banks and financial institutions, such as EBRD (European Bank for Reconstruction and Development, IFC (International Finance Corporation, NEFCO (Nordic Environment Finance Corporation, KfW (Kreditanstalt f?r Wiederaufbau, fundraising, crowdsourcing, crowdfunding, and angel investment. The article studies in detail the last two ways of financing: their essence, components, positive and negative features, experience of application in Ukraine and the world. The research shows that crowdfunding is suitable for business development at the early stages, that is, for those enterprises that require, for example, to complete prototyping and start mass production of their first product. Business angels can be a good choice for enterprises that already have a permanent customer base and want to grow their business.

  16. Project financing

    International Nuclear Information System (INIS)

    Alvarez, M.U.

    1990-01-01

    This paper presents the basic concepts and components of the project financing of large industrial facilities. Diagrams of a simple partnership structure and a simple leveraged lease structure are included. Finally, a Hypothetical Project is described with basic issues identified for discussion purposes. The topics of the paper include non-recourse financing, principal advantages and objectives, disadvantages, project financing participants and agreements, feasibility studies, organization of the project company, principal agreements in a project financing, insurance, and an examination of a hypothetical project

  17. Nontraditional roles for certified pharmacy technicians in a pharmaceutical company.

    Science.gov (United States)

    Fung, Stacey M; Gilmour, Christine; McCracken, David; Shane, Korban; Matsuura, Gary

    2006-01-01

    To describe nontraditional roles for Certified Pharmacy Technicians (CPhTs) within pharmaceutical industry. Drug information department within a large biotechnology/pharmaceutical organization. The Medical Communications department within Genentech uses a skills-mix staffing model in which employees with varying educational and training backgrounds work as a team on meeting the informational needs of consumers and health professionals who contact the company. One position within the department is that of Medical Communications Associate, responsible primarily for managing product inquiries. Medical Communications Associates have degrees in life sciences or an equivalent combination of education and experience, including a minimum of 2 years of related experience in the health care industry. Currently, four of the seven Medical Communications Associates in the department are CPhTs. Not applicable. Ability to recruit CPhTs for Medical Communications Associate positions, and job satisfaction of those hired into these positions. Critical basic skills needed for the Medical Communications Associate position include strong computer literacy, ability to multitask, and ability to work in an environment with frequent interruptions. Strong oral and written communications skills, customer service skills, ability to deal with stressful situations, product-specific knowledge, ability to work on a daily basis with Medical Communications Pharmacists, and knowledge of medical terminology are also important. The skills set of CPhTs matches these requirements, as evidenced by the experiences of the four staff members who have worked in the department for a total of 17 person-years. This nontraditional role for CPhTs can be rewarding and beneficial to all, affording an unique opportunity within the pharmaceutical industry. The skill set and experience of CPhTs can be used in the nontraditional pharmacy practice setting of drug information.

  18. Lighting the Gym: A Guide to Illuminating Non-Traditional Spaces.

    Science.gov (United States)

    Womack, Jennifer; Nelson, Steve

    2000-01-01

    Covers all the steps needed to light an open, non-traditional performance space--everything from where to locate lights, support towers, and power sources, to cable and dimmer requirements. Covers safety issues, equipment costs, what students should and should not be allowed to do, and how to deal with electricians and rental companies. (SC)

  19. What Makes a Student Non-Traditional? A Comparison of Students over and under Age 25 in Online, Accelerated Psychology Courses

    Science.gov (United States)

    Tilley, Brian P.

    2014-01-01

    The growing proportion of non-traditional students, very commonly defined as students over the age of 25 (though other features vary from study to study) necessitates more studies with this increasingly relevant group participating. Recently, the growth of non-traditional universities such as those offering predominantly online, accelerated…

  20. Customer Characteristics and Shopping Patterns Associated with Healthy and Unhealthy Purchases at Small and Non-traditional Food Stores.

    Science.gov (United States)

    Lenk, Kathleen M; Caspi, Caitlin E; Harnack, Lisa; Laska, Melissa N

    2018-02-01

    Small and non-traditional food stores (e.g., corner stores) are often the most accessible source of food for residents of lower income urban neighborhoods in the U.S. Although healthy options are often limited at these stores, little is known about customers who purchase healthy, versus less healthy, foods/beverages in these venues. We conducted 661 customer intercept interviews at 105 stores (corner stores, gas marts, pharmacies, dollar stores) in Minneapolis/St. Paul, Minnesota, assessing all food and beverage items purchased. We defined three categories of "healthy" and four categories of "unhealthy" purchases. Interviews assessed customer characteristics [e.g., demographics, body-mass index (BMI)]. We examined associations between healthy versus unhealthy purchases categories and customer characteristics. Overall, 11% of customers purchased ≥1 serving of healthy foods/beverages in one or more of the three categories: 8% purchased fruits/vegetables, 2% whole grains, and 1% non-/low-fat dairy. Seventy-one percent of customers purchased ≥1 serving of unhealthy foods/beverages in one or more of four categories: 46% purchased sugar-sweetened beverages, 17% savory snacks, 15% candy, and 13% sweet baked goods. Male (vs. female) customers, those with a lower education levels, and those who reported shopping at the store for convenience (vs. other reasons) were less likely to purchase fruits/vegetables. Unhealthy purchases were more common among customers with a BMI ≥30 kg/m 2 (vs. lower BMI). Results suggest intervention opportunities to increase healthy purchases at small and non-traditional food stores, particularly interventions aimed at male residents, those with lower education levels and residents living close to the store.

  1. National health financing policy in Eritrea: a survey of preliminary considerations

    Directory of Open Access Journals (Sweden)

    Kirigia Joses

    2012-08-01

    human resources for health; over 68.8% indicated cost-sharing, taxation and social health insurance as preferred revenue collection mechanisms; and 68.75% indicated their preferred provider payment mechanism to be a global (lump sum budget. Conclusion This study succeeded in gathering the preliminary views of senior staff of selected Eritrean ministries and agencies regarding the likely elements of the NHFP, i.e. the vision, objectives, components, provider payment mechanisms, and health financing agency and its governance. In addition to stakeholder surveys, it would be helpful to inform the development of the NHFP with other pieces of evidence, including cost-effectiveness analysis of health services and interventions, financial feasibility analysis of financing options, a survey of the political and professional acceptability of financing options, national health accounts, and equity analyses.

  2. National health financing policy in Eritrea: a survey of preliminary considerations.

    Science.gov (United States)

    Kirigia, Joses Muthuri; Zere, Eyob; Akazili, James

    2012-08-28

    -sharing, taxation and social health insurance as preferred revenue collection mechanisms; and 68.75% indicated their preferred provider payment mechanism to be a global (lump sum) budget. This study succeeded in gathering the preliminary views of senior staff of selected Eritrean ministries and agencies regarding the likely elements of the NHFP, i.e. the vision, objectives, components, provider payment mechanisms, and health financing agency and its governance. In addition to stakeholder surveys, it would be helpful to inform the development of the NHFP with other pieces of evidence, including cost-effectiveness analysis of health services and interventions, financial feasibility analysis of financing options, a survey of the political and professional acceptability of financing options, national health accounts, and equity analyses.

  3. FINANCING CAPACITY, AN INDICATOR OF SELF FINANCING FOR COMPANIES

    Directory of Open Access Journals (Sweden)

    Teodor Hada

    2013-12-01

    Full Text Available In the introduction of this paper the research objectives are presented on a case study, the research method, as well as the literature in the field and the novelty of this study. Furthermore, several aspects on the source of information for determining intermediate management balances are covered. In the third part of the study the indicator of self-financing capacity of companies is determined. The correlation between the self-financing capacity and term debts are shown in the fourth part and the fifth part of this study presents some aspects regarding global self-financing, maintaining self-financing, net self-financing, and finally the results of the study are presented.

  4. Reference Manual on Civil Works Planning, Implementation and Finance,

    Science.gov (United States)

    1987-09-01

    outstanding bond issue prior to the date on which the outstanding bonds become due or callable . Proceeds of the advance refunding bonds are deposited in... CALLABLE BOND . A bond which is subject to redem’tion at the issuer’s option prior to maturity at a specified price at or above par. COMPETITIVE...states and/or local governments incur debt by issuing tax-exempt bonds to finance public investments. Only the current annual payment of principal and

  5. Behavioral finance

    Directory of Open Access Journals (Sweden)

    Kapor Predrag

    2014-01-01

    Full Text Available This paper discuss some general principles of behavioral finance Behavioral finance is the dynamic and promising field of research that mergers concepts from financial economics and cognitive psychology in attempt to better understand systematic biases in decision-making process of financial agents. While the standard academic finance emphasizes theories such as modern portfolio theory and the efficient market hypothesis, the behavioral finance investigates the psychological and sociological issues that impact the decision-making process of individuals, groups and organizations. Most of the research behind behavioral finance has been empirical in nature, concentrating on what people do and why. The research has shown that people do not always act rationally, nor they fully utilise all information available to them.

  6. What physicists should learn about finance (if they want to)

    Science.gov (United States)

    Schmidt, Anatoly

    2006-03-01

    There has been growing interest among physicists to Econophysics, i.e. analysis and modeling of financial and economic processes using the concepts of theoretical Physics. There has been also perception that the financial industry is a viable alternative for those physicists who are not able or are not willing to pursue career in their major field. However in our times, the Wall Street expects from applicants for quantitative positions not only the knowledge of the stochastic calculus and the methods of time series analysis but also of such concepts as option pricing, portfolio management, and risk measurement. Here I describe a synthetic course based on my book ``Quantitative Finance for Physicists'' (Elsevier, 2004) that outlines both worlds: Econophysics and Mathematical Finance. This course may be offered as elective for senior undergraduate or graduate Physics majors.

  7. A Quantitative Proteomics Approach to Clinical Research with Non-Traditional Samples

    Directory of Open Access Journals (Sweden)

    Rígel Licier

    2016-10-01

    Full Text Available The proper handling of samples to be analyzed by mass spectrometry (MS can guarantee excellent results and a greater depth of analysis when working in quantitative proteomics. This is critical when trying to assess non-traditional sources such as ear wax, saliva, vitreous humor, aqueous humor, tears, nipple aspirate fluid, breast milk/colostrum, cervical-vaginal fluid, nasal secretions, bronco-alveolar lavage fluid, and stools. We intend to provide the investigator with relevant aspects of quantitative proteomics and to recognize the most recent clinical research work conducted with atypical samples and analyzed by quantitative proteomics. Having as reference the most recent and different approaches used with non-traditional sources allows us to compare new strategies in the development of novel experimental models. On the other hand, these references help us to contribute significantly to the understanding of the proportions of proteins in different proteomes of clinical interest and may lead to potential advances in the emerging field of precision medicine.

  8. A Quantitative Proteomics Approach to Clinical Research with Non-Traditional Samples.

    Science.gov (United States)

    Licier, Rígel; Miranda, Eric; Serrano, Horacio

    2016-10-17

    The proper handling of samples to be analyzed by mass spectrometry (MS) can guarantee excellent results and a greater depth of analysis when working in quantitative proteomics. This is critical when trying to assess non-traditional sources such as ear wax, saliva, vitreous humor, aqueous humor, tears, nipple aspirate fluid, breast milk/colostrum, cervical-vaginal fluid, nasal secretions, bronco-alveolar lavage fluid, and stools. We intend to provide the investigator with relevant aspects of quantitative proteomics and to recognize the most recent clinical research work conducted with atypical samples and analyzed by quantitative proteomics. Having as reference the most recent and different approaches used with non-traditional sources allows us to compare new strategies in the development of novel experimental models. On the other hand, these references help us to contribute significantly to the understanding of the proportions of proteins in different proteomes of clinical interest and may lead to potential advances in the emerging field of precision medicine.

  9. Nuclear fuel financing

    International Nuclear Information System (INIS)

    Lurf, G.

    1975-01-01

    Fuel financing is only at its beginning. A logical way of developing financing model is a step by step method starting with the financing of pre-payments. The second step will be financing of natural uranium and enrichment services to the point where the finished fuel elements are delivered to the reactor operator. The third step should be the financing of fuel elements during the time the elements are inserted in the reactor. (orig.) [de

  10. Depression and Racial/Ethnic Variations within a Diverse Nontraditional College Sample

    Science.gov (United States)

    Hudson, Richard; Towey, James; Shinar, Ori

    2008-01-01

    The study's objective was to ascertain whether rates of depression were significantly higher for Dominican, Puerto Rican, South and Central American and Jamaican/Haitian students than for African American and White students. The sample consisted of 987 predominantly nontraditional college students. The depression rate for Dominican students was…

  11. Relationship finance, market finance and endogenous business cycles

    OpenAIRE

    Deidda, Luca Gabriele; Fattouh, Bassam

    2010-01-01

    This paper develops an overlapping generation model with asymmetric information in the credit market such that the interplay between relationship finance supplied by investors who monitor investment decisions ex-ante and market finance supplied by investors who relay on public information can be the source of endogenous business fluctuations. Monitoring helps reducing the inefficiency caused by moral hazard. However, the incentives of entrepreneurs to demand relationship finance to induce mon...

  12. Sweden beyond oil: nuclear commitments and solar options

    International Nuclear Information System (INIS)

    Loennroth, M.; Johansson, T.B.; Steen, P.

    1982-01-01

    The paper argues that both a nuclear and a solar future are technically possible, but that institutional differences are vast. There is a consensus in Sweden to keep long term options open. Approaches are identified that will allow Sweden to postpone as many decisions as possible as to which path to follow. Decentralized systems require emphasis on local planning, and will require substantial expansions of authority of local planners. A nuclear future would require substantial increases in central planning and would also require substantial institutional change if most energy is to be provided by nuclear energy in 2015. The primary near term reform needed to maintain maximum flexibility includes: (1) strengthening of local authority, especially in areas relating to district heating and conservation; (2) regulatory reform to assure adequate financing on the local level, and to assure adequate balancing of conservation and supply financing; (3) increased national control over large energy users; (4) state financed procurement and development of new energy technologies, especially smaller scale technologies; (5) national land use planning; (6) electric utility reform to encourage dispersed electric technologies

  13. "Money in Finance"

    OpenAIRE

    L. Randall Wray

    2011-01-01

    This paper begins by defining, and distinguishing between, money and finance, and addresses alternative ways of financing spending. We next examine the role played by financial institutions (e.g., banks) in the provision of finance. The role of government as both regulator of private institutions and provider of finance is also discussed, and related topics such as liquidity and saving are explored. We conclude with a look at some of the new innovations in finance, and at the global financial...

  14. Corporate finance theorie en financiële crisis in breder perspectief

    NARCIS (Netherlands)

    Boot, A.W.A.

    2008-01-01

    Deze publicatie van het Amsterdam Center for Corporate Finance in haar discussiereeks ‘Topics in Corporate Finance’ gaat over de financiële crisis. Dat het financiële systeem het afgelopen jaar enige schrammetjes heeft opgelopen is een understatement. Het financiële stelsel staat onder druk. Grote

  15. Quantum Theory for the Binomial Model in Finance Thoery

    OpenAIRE

    Chen, Zeqian

    2001-01-01

    In this paper, a quantum model for the binomial market in finance is proposed. We show that its risk-neutral world exhibits an intriguing structure as a disk in the unit ball of ${\\bf R}^3,$ whose radius is a function of the risk-free interest rate with two thresholds which prevent arbitrage opportunities from this quantum market. Furthermore, from the quantum mechanical point of view we re-deduce the Cox-Ross-Rubinstein binomial option pricing formula by considering Maxwell-Boltzmann statist...

  16. Barriers to Blended Digital Distance Vocational Learning for Non-Traditional Students

    Science.gov (United States)

    Safford, Kimberly; Stinton, Julia

    2016-01-01

    This research identifies and examines the challenges of blending digital distance and vocational learning for non-traditional and low-socio-economic status students who are new to university education. A survey of students in vocational primary education and early years qualifications in a distance university is illuminated by interviews with…

  17. Access to finance from different finance provider types: Farmer knowledge of the requirements.

    Science.gov (United States)

    Wulandari, Eliana; Meuwissen, Miranda P M; Karmana, Maman H; Oude Lansink, Alfons G J M

    2017-01-01

    Analysing farmer knowledge of the requirements of finance providers can provide valuable insights to policy makers about ways to improve farmers' access to finance. This study compares farmer knowledge of the requirements to obtain finance with the actual requirements set by different finance provider types, and investigates the relation between demographic and socioeconomic factors and farmer knowledge of finance requirements. We use a structured questionnaire to collect data from a sample of finance providers and farmers in Java Island, Indonesia. We find that the most important requirements to acquire finance vary among different finance provider types. We also find that farmers generally have little knowledge of the requirements, which are important to each type of finance provider. Awareness campaigns are needed to increase farmer knowledge of the diversity of requirements among the finance provider types.

  18. Division of Finance Homepage

    Science.gov (United States)

    Top Department of Administration logo Alaska Department of Administration Division of Finance Search Search the Division of Finance site DOF State of Alaska Finance Home Content Area Accounting Charge Cards You are here Administration / Finance Division of Finance Updates IRIS Expenditure Object Codes

  19. From public to private climate change adaptation finance : Adapting finance or financing adaptation?

    NARCIS (Netherlands)

    Pauw, W.P.

    2017-01-01

    Private financing is the latest mark of the privatisation of global governance. The implementation of international agreements in the fields of environment, climate change and development has always been supported by public finance from developed countries. This tradition is broken by a

  20. Carbon Finance – A Platform for Development of Sustainable Business in Kuwait

    Directory of Open Access Journals (Sweden)

    Ahmed Nahar AL-HUSSAINI

    2016-09-01

    Full Text Available Since 1880, the temperature of global has increased by 0.85 degree Celsius. Due to the increase in temperature, the impact of climate change is constantly increasing, which is known as global warming. The increase in temperature is due to emission of greenhouse gases. Carbon dioxide is a major greenhouse gas, which is capable of causing serious hazardous influence to the environment. Carbon emission reduction and low-carbon economy development have become global targets and national policy in both developing and developed countries. Carbon finance is a tool for reducing greenhouse gas (GHG emissions using a process called capture and storage (CCS. Using this process, the carbon dioxide is captured and stored for further usage as a renewable resource. Carbon finance has a high impact on the growth of sustainable business development. This research analyzes the various possibilities of developing sustainable business through carbon trading in Kuwait and the strategic options offered by both government, as well as private sectors for carbon trading in Kuwait. The central focus of research is to discover the role of carbon finance in developing sustainable business and environmental quality. Since no previous research is conducted on the specific role of carbon finance in developing a sustainable business preferably in Kuwait, the influence of carbon financing in sustainable business development and environmental quality are analyzed in this research.

  1. 25 CFR 170.300 - May tribes use flexible financing to finance IRR transportation projects?

    Science.gov (United States)

    2010-04-01

    ... Financing § 170.300 May tribes use flexible financing to finance IRR transportation projects? Yes. Tribes may use flexible financing in the same manner as States to finance IRR transportation projects, unless... 25 Indians 1 2010-04-01 2010-04-01 false May tribes use flexible financing to finance IRR...

  2. Space Projects: Improvements Needed in Selecting Future Projects for Private Financing

    Science.gov (United States)

    1990-01-01

    The Office of Management and Budget (OMB) and NASA jointly selected seven projects for commercialization to reduce NASA's fiscal year 1990 budget request and to help achieve the goal of increasing private sector involvement in space. However, the efforts to privately finance these seven projects did not increase the commercial sector's involvement in space to the extent desired. The General Accounting Office (GAO) determined that the projects selected were not a fair test of the potential of increasing commercial investment in space at an acceptable cost to the government, primarily because the projects were not properly screened. That is, neither their suitability for commercialization nor the economic consequences of seeking private financing for them were adequately evaluated before selection. Evaluations and market tests done after selection showed that most of the projects were not viable candidates for private financing. GAO concluded that projects should not be removed from NASA's budget for commercial development until after careful screening has been done to determine whether adequate commercial demand exists, development risks are commercially acceptable and private financing is found or judged to be highly likely, and the cost effectiveness of such a decision is acceptable. Premature removal of projects from NASA's budget ultimately can cause project delays and increased costs when unsuccessful commercialization candidates must be returned to the budget. NASA also needs to ensure appropriate comparisons of government and private financing options for future commercialization projects.

  3. Model Calibration in Option Pricing

    Directory of Open Access Journals (Sweden)

    Andre Loerx

    2012-04-01

    Full Text Available We consider calibration problems for models of pricing derivatives which occur in mathematical finance. We discuss various approaches such as using stochastic differential equations or partial differential equations for the modeling process. We discuss the development in the past literature and give an outlook into modern approaches of modelling. Furthermore, we address important numerical issues in the valuation of options and likewise the calibration of these models. This leads to interesting problems in optimization, where, e.g., the use of adjoint equations or the choice of the parametrization for the model parameters play an important role.

  4. Optional Defaultable Markets

    Directory of Open Access Journals (Sweden)

    Mohamed N. Abdelghani

    2017-10-01

    Full Text Available The paper deals with defaultable markets, one of the main research areas of mathematical finance. It proposes a new approach to the theory of such markets using techniques from the calculus of optional stochastic processes on unusual probability spaces, which was not presented before. The paper is a foundation paper and contains a number of fundamental results on modeling of defaultable markets, pricing and hedging of defaultable claims and results on the probability of default under such conditions. Moreover, several important examples are presented: a new pricing formula for a defaultable bond and a new pricing formula for credit default swap. Furthermore, some results on the absence of arbitrage for markets on unusual probability spaces and markets with default are also provided.

  5. Incentive Structure of Financing a Project: An Islamic Finance Approach

    OpenAIRE

    Lone, Fayaz Ahmad; Quadir, Abdul

    2017-01-01

    Financing is an important component in any project. Without finance, it is impossible to run any project as it is considered the lifeblood of the business. But due to the presence of predetermined rate of interest, economists have provided alternative approach for financing the project. In this paper a model using Profit and Loss Sharing (PLS) system and comparison of it with the conventional financing model is developed. Thrust in this paper is towards establishing a new theoretical reasonin...

  6. Estimation of the Impacts of Non-Oil Traditional and NonTraditional Export Sectors on Non-Oil Export of Azerbaijan

    Directory of Open Access Journals (Sweden)

    Nicat Hagverdiyev

    2016-12-01

    Full Text Available The significant share of oil sector of the Azerbaijan export portfolio necessitates promotion of non-oil exports. This study analyzes weather the commodities which contain the main share (more than 70% in non-oil export are traditional or non-traditional areas, using the so-called Commodity-specific cumulative export experience function, for the 1995-2015 time frame. Then, the impact of traditional and non-traditional exports on non-oil GDP investigated employing econometric model. The results of the study based on 16 non-oil commodities show that cotton, tobacco, and production of mechanic devices are traditional sectors in non-oil export. The estimation results of the model indicate that both, traditional and non-traditional non-oil export sectors have economically and statistically significant impact on non-oil GDP.

  7. Finance

    OpenAIRE

    2013-01-01

    Voici la 17e édition du Rapport moral sur l’argent dans le monde, publié chaque année depuis 1994 par l’Association d’économie financière avec le soutien de la Caisse des Dépôts. Abordant une nouvelle fois les grands débats qui traversent actuellement le monde de la finance, il se consacre dans un premier temps à la lutte contre la criminalité et les délits financiers, et plus particulièrement à la lutte contre la corruption, la délinquance dans la finance et la fraude fiscale. Dans un second...

  8. Asymptotic chaos expansions in finance theory and practice

    CERN Document Server

    Nicolay, David

    2014-01-01

    Stochastic instantaneous volatility models such as Heston, SABR or SV-LMM have mostly been developed to control the shape and joint dynamics of the implied volatility surface. In principle, they are well suited for pricing and hedging vanilla and exotic options, for relative value strategies or for risk management. In practice however, most SV models lack a closed form valuation for European options. This book presents the recently developed Asymptotic Chaos Expansions methodology (ACE) which addresses that issue. Indeed its generic algorithm provides, for any regular SV model, the pure asymptotes at any order for both the static and dynamic maps of the implied volatility surface. Furthermore, ACE is programmable and can complement other approximation methods. Hence it allows a systematic approach to designing, parameterising, calibrating and exploiting SV models, typically for Vega hedging or American Monte-Carlo. Asymptotic Chaos Expansions in Finance illustrates the ACE approach for single underlyings (suc...

  9. Creative Bus Financing.

    Science.gov (United States)

    Malone, Wade

    1982-01-01

    Alternative ways of financing school bus purchases include financing privately through contractors or commercial banks, financing through sources such as insurance companies and pension funds, leasing the buses, or contracting for transportation services. (Author/MLF)

  10. Risk adjustment policy options for casemix funding: international lessons in financing reform.

    Science.gov (United States)

    Antioch, Kathryn M; Ellis, Randall P; Gillett, Steve; Borovnicar, Daniel; Marshall, Ric P

    2007-09-01

    This paper explores modified hospital casemix payment formulae that would refine the diagnosis-related group (DRG) system in Victoria, Australia, which already makes adjustments for teaching, severity and demographics. We estimate alternative casemix funding methods using multiple regressions for individual hospital episodes from 2001 to 2003 on 70 high-deficit DRGs, focussing on teaching hospitals where the largest deficits have occurred. Our casemix variables are diagnosis- and procedure-based severity markers, counts of diagnoses and procedures, disease types, complexity, day outliers, emergency admission and "transfers in." The results are presented for four policy options that vary according to whether all of the dollars or only some are reallocated, whether all or some hospitals are used and whether the alternatives augment or replace existing payments. While our approach identifies variables that help explain patient cost variations, hospital-level simulations suggest that the approaches explored would only reduce teaching hospital underpayment by about 10%. The implications of various policy options are discussed.

  11. Finance/security/life.

    OpenAIRE

    Langley, P.

    2017-01-01

    What is the contemporary relation between finance and security? This essay encourages further research into the securitization of finance by developing the notion of ‘finance/security/life’. A focus on the intersections of finance/security/life will be shown to prompt a broadened range of critical, cross-disciplinary concerns with the various ways in which financial markets are positioned as vital to securing wealth, welfare and wellbeing.

  12. Student Media Usage Patterns and Non-Traditional Learning in Higher Education

    Science.gov (United States)

    Zawacki-Richter, Olaf; Müskens, Wolfgang; Krause, Ulrike; Alturki, Uthman; Aldraiweesh, Ahmed

    2015-01-01

    A total of 2,338 students at German universities participated in a survey, which investigated media usage patterns of so-called traditional and non-traditional students (Schuetze & Wolter, 2003). The students provided information on the digital devices that they own or have access to, and on their usage of media and e-learning tools and…

  13. Gender, Career and Technical Education (CTE) Nontraditional Coursetaking, and Wage Gap

    Science.gov (United States)

    Fluhr, Stephanie A.; Choi, Namok; Herd, Ann; Woo, Hongryun; Alagaraja, Meera

    2017-01-01

    The two main objectives of this study were to examine the relationship between high school student (9th-12th) gender and nontraditional career and technical education (CTE) course taking, and the combined effects of gender and program area on estimated future wage earnings for male and female CTE completers. A Midwestern state CTE database…

  14. Measuring motivation and volition of nursing students in nontraditional learning environments.

    Science.gov (United States)

    Nagelsmith, Laurie; Bryer, Jason; Yan, Zheng

    2012-01-01

    The purpose of this study was to identify the best fitting model to represent interrelationships between motivation, volition, and academic success for adult nursing students learning in nontraditional environments. Participants (N=297) completed a survey that incorporated two measures: the Motivated Strategies for Learning Questionnaire (MSLQ) and the academic volitional strategies inventory (AVSI) as well as demographic information. Exploratory factor analysis (EFA), confirmatory factor analysis (CFA), and structural equation modeling (SEM) were used for data analysis. In phase 1, EFA resulted in factors that generally aligned with previous theoretical factors as defined by the psychometrics used. In Phase 2 of the analysis, CFA validated the use of predefined factor structures. In Phase 3, SEM analysis revealed that motivation has a larger effect on grade point average (GPA; beta = .28, p motivation and volition (r = .42, p motivation, volition, and academic success for adult learners studying in nontraditional learning environments. These findings are consistent with and elaborate the relationship between motivation and volition with a population and setting underrepresented in the research.

  15. New and non-traditional mineral raw materials deposits, perspectives of use

    International Nuclear Information System (INIS)

    Beyseev, O.; Beyseev, A.; Baichigasov, I.; Sergev, E.; Shakirova, G.

    1996-01-01

    Deposits of new and non-traditional kinds of mineral raw material are revealed, explored and prepared to industrial recovery in Kazakstan, that can be used in frames of conversion process to create new materials with unique properties, to prepare base for new technologies elaboration, and to achieve appreciable economic benefit. These deposits are located mostly in geographic and economic conditions of advanced infrastructure and mining works network, favorable for recovery.On the tests results the following is of heaviest interest: RHODUCITE, NEMALITE-CONTAINING CHRYSOTILE-ASBESTOS, NICKEL-CONTAINING SILICATE-ASBOLAN ORES, MEDICINAL MINERALS, SHUNGITES, FULLERENES, RAW QUARTZ MINERALS - the group of deposits containing 5 min tons of high quality quartz good for manufacture of cut-glass and fibre-optical articles, is explored in details. There are also deposits of other kinds of non-traditional strategic mineral raw material in the Republic of Kazakstan - natural fillers, that can be used in the national economy of the country and bring considerable economic benefit: chrysotile-asbestos, amphibole-asbestos, talk, vollastonite, tremolite, actinolite, vermiculite, zeolite, etc

  16. Factors Affecting Nontraditional African American Students' Participation in Online World Literature Classes

    Science.gov (United States)

    Merrills, J. Maria Sweeney

    2010-01-01

    The purpose of this qualitative study was to examine how communication preferences, learning preferences, and perceptions about online learning affect nontraditional African American students' participation in online world literature courses at a historically Black university (HBCU) in the southeastern United States. An instrumental case study was…

  17. Consumer Finance

    OpenAIRE

    Peter Tufano

    2009-01-01

    Although consumer finance is a substantial element of the economy, it has had a smaller footprint within financial economics. In this review, I suggest a functional definition of the subfield of consumer finance, focusing on four key functions: payments, risk management, moving funds from today to tomorrow (saving/investing), and from tomorrow to today (borrowing). I provide data showing the economic importance of consumer finance in the American economy. I propose a historical explanation fo...

  18. Feynman perturbation expansion for the price of coupon bond options and swaptions in quantum finance. I. Theory.

    Science.gov (United States)

    Baaquie, Belal E

    2007-01-01

    European options on coupon bonds are studied in a quantum field theory model of forward interest rates. Swaptions are briefly reviewed. An approximation scheme for the coupon bond option price is developed based on the fact that the volatility of the forward interest rates is a small quantity. The field theory for the forward interest rates is Gaussian, but when the payoff function for the coupon bond option is included it makes the field theory nonlocal and nonlinear. A perturbation expansion using Feynman diagrams gives a closed form approximation for the price of coupon bond option. A special case of the approximate bond option is shown to yield the industry standard one-factor HJM formula with exponential volatility.

  19. THE ENTERPRISE SELF-FINANCING – THE TAXATION IMPACT UPON SELF-FINANCING DECISION

    OpenAIRE

    Nicoleta BARBUTA-MISU

    2009-01-01

    This work study the self-financing problematic, with particular emphasis on their benefits for the enterprise, but also for shareholders, on domestic or external factors that influence the self-financing decision and its level, on the relationship between self-financing and depreciation, degree of debt and profitability and not in the last line on the self-financing cost. In the factors that acting on the self-financing decision was granted a special attention to taxation, whose impact has be...

  20. An Innovative System for the Efficient and Effective Treatment of Non-Traditional Waters for Reuse in Thermoelectric Power Generation

    Energy Technology Data Exchange (ETDEWEB)

    John Rodgers; James Castle

    2008-08-31

    This study assessed opportunities for improving water quality associated with coal-fired power generation including the use of non-traditional waters for cooling, innovative technology for recovering and reusing water within power plants, novel approaches for the removal of trace inorganic compounds from ash pond effluents, and novel approaches for removing biocides from cooling tower blowdown. This research evaluated specifically designed pilot-scale constructed wetland systems for treatment of targeted constituents in non-traditional waters for reuse in thermoelectric power generation and other purposes. The overall objective of this project was to decrease targeted constituents in non-traditional waters to achieve reuse criteria or discharge limitations established by the National Pollutant Discharge Elimination System (NPDES) and Clean Water Act (CWA). The six original project objectives were completed, and results are presented in this final technical report. These objectives included identification of targeted constituents for treatment in four non-traditional water sources, determination of reuse or discharge criteria for treatment, design of constructed wetland treatment systems for these non-traditional waters, and measurement of treatment of targeted constituents in non-traditional waters, as well as determination of the suitability of the treated non-traditional waters for reuse or discharge to receiving aquatic systems. The four non-traditional waters used to accomplish these objectives were ash basin water, cooling water, flue gas desulfurization (FGD) water, and produced water. The contaminants of concern identified in ash basin waters were arsenic, chromium, copper, mercury, selenium, and zinc. Contaminants of concern in cooling waters included free oxidants (chlorine, bromine, and peroxides), copper, lead, zinc, pH, and total dissolved solids. FGD waters contained contaminants of concern including arsenic, boron, chlorides, selenium, mercury

  1. Corporate finance

    OpenAIRE

    P. Quiry; Y. Le Fur; A. Salvi; M. Dallocchio; P. Vernimmen

    2011-01-01

    Corporate Finance: Theory and Practice, 3rd Edition, the website www.vernimmen.com and the Vernimmen.com newsletter are all written and created by an author team who are both investment bankers/corporate financiers and academics. This book covers the theory and practice of Corporate Finance from a truly European perspective. It shows how to use financial theory to solve practical problems and is written for students of corporate finance and financial analysis and practising corporate financie...

  2. Cost Considerations and Financing Mechanisms for the Disposal of Low and Intermediate Level Radioactive Waste

    International Nuclear Information System (INIS)

    2007-06-01

    The overall objective of this publication is to provide Member States who are currently planning or preparing new near surface repositories for low and intermediate level radioactive waste (LILW), guidance on cost considerations and funding mechanisms for the repositories' entire life cycle. The report focuses on both technical and non-technical factors affecting repository costs. It considers the major cost elements that comprise a cost evaluation for a disposal facility for LILW and identifies those factors which may result in major uncertainties in an overall cost estimate. In particular, the report lists the basic disposal options and summarizes the legal basis and infrastructure requirements for establishing an effective financing system. It further includes the cost estimation methodology, considers the major cost categories and discusses factors to be considered when planning the financing mechanism, and describes relevant financing schemes

  3. Financing of Solar Home Systems (SHS); Finanzierung von Solar Home Systemen. Erfahrungen aus der Praxis

    Energy Technology Data Exchange (ETDEWEB)

    Adelmann, P.; Rimpler, G.; Zimmermann, A. [Phocos AG, Ulm (Germany)

    2005-07-01

    In many cases Solar Systems are the cheapest option for rural electrification. Often the users spend every month a quite high amount of money for dry cell batteries, kerosene and candles to supply a radio or to have light. Problem is that the users can spend a certain amount every month, but they are not able to have the necessary investment for a SHS at one. Financing would be requires. There are different ways to finance the solar home systems. In some cases the user has to pay a fee for the service. In these cases the investor is the owner of the system. In other cases a microcredit is given to the user. His then the owner of the system and responsible for any losses in the system. An interesting model is a battery charging station. In this model it is possible for the user to become step by step owner of a solar system. Conclusion. Fee for service systems did not perform perfectly. Main reason is the missing responsibility of the user for any damage. Microcredits did perform well in several places in Asia. A interesting option for the future are battery charging stations. This model hashighest flexibility in financing. It can be adopted at any moment to the abilities of the user. (orig.)

  4. Organising the Finances For and the Finances From Transnational Corporate Bribery

    OpenAIRE

    Lord, Nicholas; Michael Levi,

    2016-01-01

    This article analyses the finances for and the finances from corporate bribery in international business transactions and how they are organised. Transnational corporate bribery involves non-criminal commercial enterprises that operate in licit markets but that use corrupt means to win or maintain business contracts inforeign jurisdictions. This article first considers what needs to be financed, how much finance is needed, and how the bribes can be generated and distributed. Second, the artic...

  5. Analysis of health promotion and prevention financing mechanisms in Thailand.

    Science.gov (United States)

    Watabe, Akihito; Wongwatanakul, Weranuch; Thamarangsi, Thaksaphon; Prakongsai, Phusit; Yuasa, Motoyuki

    2017-08-01

    In the transition to the post-2015 agenda, many countries are striving towards universal health coverage (UHC). Achieving this, governments need to shift from curative care to promotion and prevention services. This research analyses Thailand's financing system for health promotion and prevention, and assesses policy options for health financing reforms. The study employed a mixed-methods approach and integrates multiple sources of evidence, including scientific and grey literature, expenditure data, and semi-structured interviews with key stakeholders in Thailand. The analysis was underpinned by the use of a well-known health financing framework. In Thailand, three agencies plus local governments share major funding roles for health promotion and prevention services: the Ministry of Public Health (MOPH), the National Health Security Office, the Thai Health Promotion Foundation and Tambon Health Insurance Funds. The total expenditure on prevention and public health in 2010 was 10.8% of the total health expenditure, greater than many middle-income countries that average 7.0-9.2%. MOPH was the largest contributor at 32.9%, the Universal Coverage scheme was the second at 23.1%, followed by the local governments and ThaiHealth at 22.8 and 7.3%, respectively. Thailand's health financing system for promotion and prevention is strategic and innovative due to the three complementary mechanisms in operation. There are several methodological limitations to determine the adequate level of spending. The health financing reforms in Thailand could usefully inform policymakers on ways to increase spending on promotion and prevention. Further comparative policy research is needed to generate evidence to support efforts towards UHC. © The Author 2016. Published by Oxford University Press.

  6. CONSUMERS’ BRAND EQUITY PERCEPTIONS OF TRADITIONAL AND NON-TRADITIONAL BRANDS

    OpenAIRE

    Catli, Ozlem; Ermec Sertoglu, Aysegul; Ors, Husniye

    2017-01-01

    Thisstudy aims to compare consumers' brand perception of traditional brands withbrand perceptions of non-traditional brands.  Consumers livingin Ankara constitute the universe of work, and data were gathered in aface-to-face interview using the survey method. the demographic characteristicsof the participants was prepared with the aim of evaluating and comparing onetraditional brand and one non traditional brand of brand equity related to thebrand equity by the participants. According to...

  7. Differences Do Make a Difference: Recruitment Strategies for the Non-Traditional Student.

    Science.gov (United States)

    Zamanou, Sonia

    Many colleges and universities lack a comprehensive, fully integrated marketing plan to combat high attrition rates in programs offered to non-traditional students. A clear understanding of the needs of the marketplace is crucial to an effective marketing program. Research suggests that life transitions are what motivate adults to pursue…

  8. Energy Upgrades at City-Owned Facilities: Understanding Accounting for Energy Efficiency Financing Options. City of Dubuque Case Study

    Energy Technology Data Exchange (ETDEWEB)

    Leventis, Greg [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States). Energy Markets and Policy Group; Schiller, Steve [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States). Energy Markets and Policy Group; Kramer, Chris [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States). Energy Futures Group; Schwartz, Lisa [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States). Energy Markets and Policy Group

    2017-06-30

    The city of Dubuque, Iowa, aimed for a twofer — lower energy costs for public facilities and reduced air emissions. To achieve that goal, the city partnered with the Iowa Economic Development Authority to establish a revolving loan fund to finance energy efficiency and other energy projects at city facilities. But the city needed to understand approaches for financing energy projects to achieve both of their goals in a manner that would not be considered debt — in this case, obligations booked as a liability on the city’s balance sheet. With funding from the U.S. Department of Energy’s Climate Action Champions Initiative, Lawrence Berkeley National Laboratory (Berkeley Lab) provided technical assistance to the city to identify strategies to achieve these goals. Revolving loans use a source of money to fund initial cost-saving projects, such as energy efficiency investments, then use the repayments and interest from these loans to support subsequent projects. Berkeley Lab and the city examined two approaches to explore whether revolving loans could potentially be treated as non-debt: 1) financing arrangements containing a non-appropriation clause and 2) shared savings agreements. This fact sheet discusses both, including considerations that may factor into their treatment as debt from an accounting perspective.

  9. Financing energy projects: experience of the International Finance Corporation

    International Nuclear Information System (INIS)

    Bond, Gary; Carter, Laurence

    1995-01-01

    This paper provides an overview of the recent trend towards private ownership and financing of power projects in the developing countries, focusing on the role played by both private and public agencies in meeting the large financing challenges. The paper draws upon the operational experience of the International Finance Corporation, which has been involved in the financing of more than 30 private power projects in the developing countries over the past three decades. Among the issues that affect implementation of private power projects is the balancing of risk and reward to equity investors and to commercial lenders. The paper discusses the principal sources of risk and the strategies used to manage them. A related issue is the competition for capital on the international markets, and the techniques that are being devised to bring more finance to the power sector. Finally, the paper considers the role of government in bringing private investors to the power sector, and the approaches being adopted to balance the needs of investors with the needs of the public. (author)

  10. Non-traditional approaches to teaching GPS online

    Science.gov (United States)

    Matias, A.; Wolf, D. F., II

    2009-12-01

    Students are increasingly turning to the web for quality education that fits into their lives. Nonetheless, online learning brings challenges as well as a fresh opportunity for exploring pedagogical practices not present on traditional higher education programs, particularly in the sciences. A team of two dozen Empire State College-State University of New York instructional designers, faculty, and other staff are working on making science relevant to non-majors who may initially have anxiety about general education science courses. One of these courses, GPS and the New Geography, focuses on how Global Positioning System (GPS) technology provides a base for inquiry and scientific discovery from a range of environmental issues with local, regional, and global scope. GPS and the New Geography is an introductory level course developed under a grant supported by the Charitable Leadership Foundation. Taking advantage of the proliferation of tools currently available for online learning management systems, we explore current trends in Web 2.0 applications to aggregate and leverage data to create a nontraditional, interactive learning environment. Using our best practices to promote on-line discussion and interaction, these tools help engage students and foster deep learning. During the 15-week term students learn through case studies, problem-based exercises, and the use of scientific data; thus, expanding their spatial literacy and gain experience using real spatial technology tools to enhance their understanding of real-world issues. In particular, we present how the use of Mapblogs an in-house developed blogging platform that uses GIS interplaying with GPS units, interactive data presentations, intuitive visual working environments, harnessing RSS feeds, and other nontraditional Web 2.0 technology has successfully promoted active learning in the virtual learning environment.

  11. Options for electric power generation and distribution in developing countries: proceedings of the GTDC symposium'95

    International Nuclear Information System (INIS)

    1995-01-01

    This book contains the proceedings of the symposium on options for electric power generation and distribution in developing countries organised by Global Technology Development Centre (GTDC), Vienna in cooperation with Agency for Non-Conventional Energy and Rural Technology (ANERT), Thiruvananthapuram. The focus of the symposium was on problems of electricity generation and distribution mainly in the developing countries of the world and the issues addressed included : 1) an overview of existing electric power services; 2) options on fuel and technology; 3) options on operation of electricity utilities; 4) options on financing investments and planning of capacity extension or replacement. Papers relevant to INIS are indexed separately

  12. Opportunities for development of non-traditional hydrocarbon resources in the Timan-North Ural region, taking into account ecosystem services

    Directory of Open Access Journals (Sweden)

    I. G. Burtseva

    2017-12-01

    Full Text Available The authors formulate the definition of non-traditional resources from geological-genetic, technological and economic viewpoints. The authors present a detailed assessment of the resource potential of non-traditional hydrocarbon raw material in the Timan-Severouralsk region, including hydrocarbons in the deposits of the domanic type, methane of coal seams, liquid and gaseous hydrocarbons potentially extracted from black, brown coal and combustible shales. The authors also show the main directions of industrial use of coal and oil shales. The assessment of the resource potential of hydrocarbon raw materials in the deposits of the domanic type varies widely; the recoverable resources may amount to about 1 billion tons. Bituminous coals with a high volatile yield have the highest degree of conversion to liquid hydrocarbons, and brown and black coals of with a low degree of metamorphism usually serve for the production of combustible gas and primary resin. The paper describes the option of developing oil shale deposits as a possible investment project. The determined components and overall values of the economic effect from the implementation of the projects under consideration allow us to estimate that the payback period of investments does not exceed seven years. There is also a social effect: the creation of an additional 550 jobs in the operation of the quarry and about 700 jobs – in the enrichment and processing of oil shales. The estimated annual volume of output is 25–30 billion rubles, and the volume of tax revenues – up to 100 billion rubles. The authors evaluated ecosystem services in the territories of potential industrial development of coal and oil shale deposits; identified the beneficiaries of the benefits from the use of environmental services and the possibility of calculating payments.

  13. Access to finance from different finance provider types: Farmer knowledge of the requirements

    OpenAIRE

    Wulandari, Eliana; Meuwissen, Miranda P. M.; Karmana, Maman H.; Oude Lansink, Alfons G. J. M.

    2017-01-01

    Analysing farmer knowledge of the requirements of finance providers can provide valuable insights to policy makers about ways to improve farmers' access to finance. This study compares farmer knowledge of the requirements to obtain finance with the actual requirements set by different finance provider types, and investigates the relation between demographic and socioeconomic factors and farmer knowledge of finance requirements. We use a structured questionnaire to collect data from a sample o...

  14. For the last time: stock options are an expense.

    Science.gov (United States)

    Bodie, Zvi; Kaplan, Robert S; Merton, Robert C

    2003-03-01

    Should stock options be recorded as an expense on a company's income statement and balance sheet, or should they remain where they are, relegated to footnotes? The extraordinary boom in share prices during the Internet bubble made critics of option expensing look like spoilsports. But since the crash, the debate has returned with a vengeance. And no wonder: The authors believe the case for expensing options is overwhelming. In this article, Nobel Iaureate Robert Merton, one of the inventors of the Black-Scholes option-pricing model; his coauthor on the classic textbook Finance, Zvi Bodie; and Robert Kaplan, creator of the Balanced Scorecard, examine and dismiss the principal claims put forward by those who continue to oppose options expensing. They demonstrate that stock-option grants do indeed have real cash-flow implications that need to be reported. They show that effective ways certainly exist to quantify those implications. They detail the distortions that relegating stock-option accounting to footnotes creates. And they show why reporting option costs should in no way hamper young companies in their efforts to provide incentives. Options are indeed a powerful incentive, the authors agree, and failing to record a transaction that creates such powerful effects is economically indefensible. Worse, it encourages companies to favor options over alternative incentive systems. It is not the proper role of accounting standards, the authors argue, to distort executive and employee compensation by subsidizing one particular form of compensation and no other. Companies should choose compensation methods according to their economic benefits--not the way they are reported.

  15. Emerging Independence in Nursing Graduates: An Analysis of Traditional-Nontraditional Value Patterns.

    Science.gov (United States)

    Klein, Colleen Parton; Klein, Stephen

    1984-01-01

    Nursing graduates of 1980 had a significantly higher score on the political scale of the Allport Vernon Lindsey Scale of Values than did 1974 graduates, signifying that the recent group valued assertiveness, independence, and achievement to a greater degree. This increase in nontraditional values appeared to be closely tied to the socialization…

  16. Health Sector Reform in the Kurdistan Region - Iraq: Financing Reform, Primary Care, and Patient Safety.

    Science.gov (United States)

    Anthony, C Ross; Moore, Melinda; Hilborne, Lee H; Mulcahy, Andrew W

    2014-12-30

    In 2010, the Kurdistan Regional Government asked the RAND Corporation to help guide reform of the health care system in the Kurdistan Region of Iraq. The overarching goal of reform was to help establish a health system that would provide high-quality services efficiently to everyone to prevent, treat, and manage physical and mental illnesses and injuries. This article summarizes the second phase of RAND's work, when researchers analyzed three distinct but intertwined health policy issue areas: development of financing policy, implementation of early primary care recommendations, and evaluation of quality and patient safety. For health financing, the researchers reviewed the relevant literature, explored the issue in discussions with key stakeholders, developed and assessed various policy options, and developed plans or approaches to overcome barriers and achieve stated policy objectives. In the area of primary care, they developed and helped to implement a new management information system. In the area of quality and patient safety, they reviewed relevant literature, discussed issues and options with health leaders, and recommended an approach toward incremental implementation.

  17. Curbing International Piracy of Intellectual Property. Policy Options for a Major Exporting Country.

    Science.gov (United States)

    Hoffman, Gary M.; Marcou, George T.

    This report of the International Piracy Project addresses three major topics: (1) The Costs and Complications of Piracy; (2) Rights Enforcement Today; and (3) Policy Options for Curbing Piracy. The first section discusses piracy of copyrights, patents, and other intellectual property, including economic losses and damage to the finances and…

  18. Financing Investment

    DEFF Research Database (Denmark)

    Hirth, Stefan; Flor, Christian Riis

    Intuition suggests that corporate investment should be decreasing in financing constraints. We show that even when financing is obtained using a standard debt contract and there is symmetric information between the firm and outside investors, the relation is actually U-shaped. We thus provide a new...... theoretical explanation for the recent empirical findings of Cleary et al. (2007). We split up the endogenously implied financing costs and propose a trade-off between expected liquidation costs and second-best investment costs. For rather unconstrained firms, the risk of costly liquidation dominates the cost...

  19. Export contracts for non-traditional products: Chayote from Costa Rica

    OpenAIRE

    Saénz, F.; Ruben, R.

    2004-01-01

    This paper focuses on the determinants of market and contract choice for non-traditional crops and the possibilities for involving local producers in global agro-food chains through delivery relationships with packers and brokers. Main attention is given to the importance of quality for entering the export market and the impact of contractual arrangements on loyal behaviour. Core stipulations in the contract regarding the frequency of delivery and the provision of technical assistance are med...

  20. Correlated continuous time random walk and option pricing

    Science.gov (United States)

    Lv, Longjin; Xiao, Jianbin; Fan, Liangzhong; Ren, Fuyao

    2016-04-01

    In this paper, we study a correlated continuous time random walk (CCTRW) with averaged waiting time, whose probability density function (PDF) is proved to follow stretched Gaussian distribution. Then, we apply this process into option pricing problem. Supposing the price of the underlying is driven by this CCTRW, we find this model captures the subdiffusive characteristic of financial markets. By using the mean self-financing hedging strategy, we obtain the closed-form pricing formulas for a European option with and without transaction costs, respectively. At last, comparing the obtained model with the classical Black-Scholes model, we find the price obtained in this paper is higher than that obtained from the Black-Scholes model. A empirical analysis is also introduced to confirm the obtained results can fit the real data well.

  1. Osobní a rodinné finance - finance vysokoškolského studenta

    OpenAIRE

    Palicová, Helena

    2014-01-01

    In this thesis, Personal and family finances, subtitled Finances of university student. It is discussed on the way to a happier life through management of personal finances. Just as it is necessary to control corporate finance, it is necessary everyone managed own personal finances. It is indicated as appropriate to tackle your finances,what to focus on, and it's practically demonstrated on the example of a university student. There are analyzed his goals and needs, then it is outlined possib...

  2. Financing petroleum agreements

    International Nuclear Information System (INIS)

    Robson, C.J.V.

    1994-01-01

    This chapter describes the typical type of financing agreements which are currently used to finance North Sea petroleum projects whether they are in the cause of development or have been developed and are producing. It deals with the agreements which are entered into to finance borrowings for petroleum projects on a non-resource or limited resource basis. (UK)

  3. FINANCING PUBLIC INSTITUTIONS OF ACADEMIC EDUCATION IN SPAIN

    Directory of Open Access Journals (Sweden)

    DRĂGUŞIN CRISTINA-PETRINA

    2015-04-01

    Full Text Available Currently, Spanish universities meet the educational needs of the students with a wide offer of courses and the opportunity to study at all levels. They appear as an attractive option in the context of the relatively low cost of living compared to other countries in the EU area and under conditions of a tax system controlled by the Government. Starting from the assumption that the financing model of the academic education public institutions represents the foundation of their modernization in the current society based on changes and evolution, in this paper we propose to bring into the light of the concerns of those who are interested, through a persuasive exhibit, the Spanish model and its specific features. To this end, our debate will begin with a description of the Spanish system of academic education under the decentralized model of financing imprint, continuing with the presentation of specific skills in terms of funding on the triptych template: state - autonomous communities - universities. Subsequently, our investigative approach will focus on detailing the tertiary education financing sources: public resources, private and patrimonial revenues. The end of our presentation will be intended for conclusions, through which we aim to advance our vision regarding the investigated problems. In fact, the paper is intended to be a precursor step in carrying out a comparative study between the academic education funding mechanism in Romania and the Spanish one.

  4. PM10 standards and nontraditional particulate source controls: A summary of the A ampersand WMA/EPA international specialty conference

    International Nuclear Information System (INIS)

    Chow, J.C.; Watson, J.G.; Ono, D.M.; Mathai, C.V.

    1993-01-01

    An international specialty conference, jointly sponsored by the Air ampersand Waste Management Association (A ampersand WMA) and the US Environmental Protection Agency (EPA), entitled open-quotes PM 10 Standards and Nontraditional Particulate Source Controls,close quotes was held in Scottsdale, Arizona, January 12-15, 1992. The conference included 92 presentations in 17 technical sessions. Eight-one peer-reviewed technical papers, two keynote addresses and one panel session summary describing novel applications, measurement processes, modeling techniques and control measures for nontraditional pollution sources are assembled in the Transactions. The technical issues addressed during the conference included: (1) measurement methods and data bases; (2) emissions source characterization; (3) source apportionment of nontraditional sources; (4) fugitive dust characterization and control technologies; (5) vegetative burning characterization and control technologies; (6) sources and controls of secondary aerosol and motor vehicle precursors; and (7) regulatory policies and State Implementation Plan (SIP) development. This paper gives an overview of the technical program. 105 refs., 1 tab

  5. Women into Non-Traditional Sectors: Addressing Gender Segregation in the Northern Ireland Workplace

    Science.gov (United States)

    Potter, Michael; Hill, Myrtle

    2009-01-01

    The horizontal segregation of the workforce along gender lines tends to assign women to lower paid, lower status employment. Consequently, schemes to address segregation have focused on preparing women to enter non-traditional occupations through training and development processes. This article examines models to encourage women into…

  6. Social Determinants and Teen Pregnancy Prevention: Exploring the Role of Nontraditional Partnerships.

    Science.gov (United States)

    Fuller, Taleria R; White, Carla P; Chu, Jocelyn; Dean, Deborah; Clemmons, Naomi; Chaparro, Carmen; Thames, Jessica L; Henderson, Anitra Belle; King, Pebbles

    2018-01-01

    Addressing the social determinants of health (SDOH) that influence teen pregnancy is paramount to eliminating disparities and achieving health equity. Expanding prevention efforts from purely individual behavior change to improving the social, political, economic, and built environments in which people live, learn, work, and play may better equip vulnerable youth to adopt and sustain healthy decisions. In 2010, the Centers for Disease Control and Prevention in partnership with the Office of Adolescent Health funded state- and community-based organizations to develop and implement the Teen Pregnancy Prevention Community-Wide Initiative. This effort approached teen pregnancy from an SDOH perspective, by identifying contextual factors that influence teen pregnancy and other adverse sexual health outcomes among vulnerable youth. Strategies included, but were not limited to, conducting a root cause analysis and establishing nontraditional partnerships to address determinants identified by community members. This article describes the value of an SDOH approach for achieving health equity, explains the integration of such an approach into community-level teen pregnancy prevention activities, and highlights two project partners' efforts to establish and nurture nontraditional partnerships to address specific SDOH.

  7. Local Option Taxes and the New Subregionalism in Transportation Planning

    OpenAIRE

    Goldman, Todd Mitchel

    2005-01-01

    This dissertation examines the planning processes for new local option transportation taxes. Typically, these are temporary, voter-approved, single-county sales taxes linked to legally binding expenditure plans. In many states, they increasingly dominate transportation planning and finance. Because they bypass the federally-mandated metropolitan planning process, they appear to place at risk important policy goals (e.g. reducing air pollution) that it is intended to address. Yet they can also...

  8. Pricing of American Put Option under a Jump Diffusion Process with Stochastic Volatility in an Incomplete Market

    Directory of Open Access Journals (Sweden)

    Shuang Li

    2014-01-01

    Full Text Available We study the pricing of American options in an incomplete market in which the dynamics of the underlying risky asset is driven by a jump diffusion process with stochastic volatility. By employing a risk-minimization criterion, we obtain the Radon-Nikodym derivative for the minimal martingale measure and consequently a linear complementarity problem (LCP for American option price. An iterative method is then established to solve the LCP problem for American put option price. Our numerical results show that the model and numerical scheme are robust in capturing the feature of incomplete finance market, particularly the influence of market volatility on the price of American options.

  9. The Determinants of Debt Financing

    OpenAIRE

    Zhao, Chenkai

    2013-01-01

    Debt financing is an important part in capital structure. Over the fifty years, most scholars and researchers focus primarily on the balance between debt financing and equity financing. And only few research involve in types of debt financing, as well as the determinant of debt financing. This study is aim to analyse the determinate of debt financing, which examine that the influence by eight different elements. This dissertation examined by quantitative techniques with 591 UK listed comp...

  10. Financing Non-Residential Photovoltaic Projects: Options and Implications

    Energy Technology Data Exchange (ETDEWEB)

    Bolinger, Mark

    2009-01-09

    Installations of grid-connected photovoltaic (PV) systems in the United States have increased dramatically in recent years, growing from less than 20 MW in 2000 to nearly 500 MW at the end of 2007, a compound average annual growth rate of 59%. Of particular note is the increasing contribution of 'non-residential' grid-connected PV systems--defined here as those systems installed on the customer (rather than utility) side of the meter at commercial, institutional, non-profit, or governmental properties--to the overall growth trend. Although there is some uncertainty in the numbers, non-residential PV capacity grew from less than half of aggregate annual capacity installations in 2000-2002 to nearly two-thirds in 2007. This relative growth trend is expected to have continued through 2008. The non-residential sector's commanding lead in terms of installed capacity in recent years primarily reflects two important differences between the non-residential and residential markets: (1) the greater federal 'Tax Benefits'--including the 30% investment tax credit (ITC) and accelerated tax depreciation--provided to commercial (relative to residential) PV systems, at least historically (this relative tax advantage has largely disappeared starting in 2009) and (2) larger non-residential project size. These two attributes have attracted to the market a number of institutional investors (referred to in this report as 'Tax Investors') seeking to invest in PV projects primarily to capture their Tax Benefits. The presence of these Tax Investors, in turn, has fostered a variety of innovative approaches to financing non-residential PV systems. This financial innovation--which is the topic of this report--has helped to overcome some of the largest barriers to the adoption of non-residential PV, and is therefore partly responsible (along with the policy changes that have driven this innovation) for the rapid growth in the market seen in recent years

  11. Policy Options for Effective REDD+ Implementation in Indonesia

    DEFF Research Database (Denmark)

    Saito-Jensen, Moeko; Sikor, Thomas; Kurniawan, Y.

    2015-01-01

    Indonesia, which contains the third-largest area of tropical forest in the world, is currently exploring policy options for the effective implementation of REDD+, the global initiative to reduce emissions from deforestation and forest degradation. This article analyses the major questions regarding...... degradation, due to high opportunity costs. REDD+ finance may be more effectively used to reward small-scale dispersed activities that enhance carbon stocks, such as those already happening under Indonesia's community nursery programme. The analysis indicates the necessity for forest tenure reform...

  12. Influence of a nontraditional master's degree on graduates' career paths.

    Science.gov (United States)

    Wilson, J P; Wen, L K

    2000-12-01

    Graduates' assessments of the University of Texas at Austin's nontraditional M.S. degree program in pharmacy administration were studied. A survey was constructed to assess the impact of the master's program on career advancement, to examine why pharmacists enrolled in the program, and to determine if the curriculum provided knowledge or developed skills that were practical or beneficial. The survey was mailed in April 1999 to all persons who had completed the program between 1990 and 1998. A total of 56 graduates responded, for a response rate of 90.3%. The three reasons for entering the program most frequently cited as most important were career advancement, personal development, and the desire to change job responsibilities. Thirty-four respondents (60.7%) reported receiving a promotion or changing jobs for a higher position while they were enrolled in the program or after completing it. Of these 34 respondents, 29 (85.3%) attributed their promotion or new job to the master's degree. On average, graduates reported that the knowledge and skills obtained through the program had been useful in their practice. The benefits of the program that were cited most frequently were management skills, competencies in areas of pharmacy business, opportunity to advance career, job satisfaction, and competitive advantage when applying for a job. A nontraditional master's degree program in pharmacy administration had a positive impact on the career paths of graduates.

  13. POST BEHAVIORAL FINANCE ADOLESCENCE

    Directory of Open Access Journals (Sweden)

    ADRIAN MITROI

    2016-12-01

    Full Text Available The study of behavioral finance combines the investigation and expertise from research and practice into smart portfolios of individual investors’ portfolios. Understanding cognitive errors and misleading emotions drive investors to their long-term goals of financial prosperity and capital preservation. 10 years ago, Behavioral Finance was still considered an incipient, adolescent science. First Nobel Prize in Economics awarded to the study of Behavioral Economics in 2002 established the field as a new, respected study of economics. 2013 Nobel Prize was awarded to three economists, one of them considered the one of the founders of the Behavioral Finance. As such, by now we are entering the coming of age of behavioral finance. It is now recognized as a science of understanding investors behaviors and their biased patterns. It applies quantitative finance and provides practical models grounded on robust understanding of investors behavior toward financial risk. Financial Personality influences investment decisions. Behavioral portfolio construction methods combine classic finance with rigorously quantified psychological metrics and improves models for financial advice to enhance investors chances in reaching their lifetime financial goals. Behavioral finance helps understanding psychological profile dissimilarities of individuals and how these differences manifest in investment decision process. This new science has become now a must topic in modern finance.

  14. Traditional and Nontraditional Gender Roles and Work-Family Interface for Men and Women

    Science.gov (United States)

    Perrone, Kristin M.; Wright, Stephen L.; Jackson, Z. Vance

    2009-01-01

    In this article, we examine traditional and nontraditional gender roles and work-family interface for men and women. Recent empirical literature is reviewed and implications for career counselors are discussed. We discuss changing gender roles in career, marriage, and parenting and provide strategies for helping clients to cope with work-family…

  15. FINANCING OF INTERNATIONAL TRANSACTIONS

    Directory of Open Access Journals (Sweden)

    RADU NICOLAE BĂLUNĂ

    2013-02-01

    Full Text Available Financing (funding is essentially the purchase of funds necessary for a business. This can be done from internal sources (company’s own funds or external (borrowed funds. The high value of goods traded in international trade makes revenues generated from internal resources not sufficient to settle the value of the goods. Thus, it is frequent to resort to borrowed funds. In International Business Transactions, external financing is done both by classical techniques of credit (credit supplier and buyer credit and modern techniques of financing (factoring, forfeiting, leasing all trade tailored. In terms of the length of financing, accounting funding is short-term (1-12 months and long-term financing (over a year. In principle, export and import operations prevailing short-term financing techniques, while international investment and industrial cooperation actions are specific long-term funding

  16. 12 CFR 987.7 - Liability of Banks, Finance Board, Office of Finance and Federal Reserve Banks.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Liability of Banks, Finance Board, Office of Finance and Federal Reserve Banks. 987.7 Section 987.7 Banks and Banking FEDERAL HOUSING FINANCE BOARD OFFICE OF FINANCE BOOK-ENTRY PROCEDURE FOR CONSOLIDATED OBLIGATIONS § 987.7 Liability of Banks, Finance Board, Office of Finance and Federal Reserve...

  17. CONDICIONES ACTUALES DEL FINANCIAMIENTO DE LAS PYMES COSTARRICENSES. (Current financing conditions for costa rican SME companies

    Directory of Open Access Journals (Sweden)

    Lizette Brenes Bonilla

    2013-09-01

    Full Text Available Uno de los temas indagados en el Segundo estudio nacional realizado por el Observatorio Costarricense de Mipymes durante el 2011 corresponde al financiamiento de las micros, pequeñas y medianas empresas costarricenses. Se consultaron las fuentes de financiamiento más utilizadas, la presentación de solicitudes de crédito durante los últimos cinco años, la utilización que en general hacen estas empresas de los diferentes medios de financiamiento y sus requerimientos actuales. De forma similar a lo que ocurre en otros países, los fondos propios constituyen la principal opción para estas empresas. Por ello, en este trabajo han sido analizadas las condiciones que propician la autofinanciación o el uso de otras opciones. Por medio del análisis estadístico de la información recopilada en la encuesta, se comprueba que algunas variables relativas a la gestión empresarial, tales como la fuente de financiamiento inicial, la experiencia del (de la empresario(a y la prioridad que dan al manejo de aspectos financieros, presentan una asociación significativa con las estrategias de financiamiento en las mipymes costarricenses. ABSTRACT Financing was one of the areas investigated in the Second National Survey of micro, small and medium sized Costa Rican companies during 2011. The most used financing sources, credit applications during the last five years, end use of this credit, and current credit requirements in various financing institutions were investigated. Similar to other countries, own funding was the main option for these companies. Thus, this work examines the conditions that facilitate the use of self financing or other options available. Through statistic analysis of the information collected, variables like initial funding source, previous experience of the entrepreneur and priority given to financial management were shown to present a definite relationship to financing strategies for Costa Rican SMEs.

  18. Export development financing

    International Nuclear Information System (INIS)

    Balint, J.

    1995-01-01

    The main activities of the Export Development Corporation (EDC) were described, as well as some of the changes currently being implemented. EDC is Canada's official export credit agency, providing risk management services such as insurance, loans, guarantees, equity and leasing. EDC's project finance initiative started in 1991, and focused mainly on the up-front process. It has established itself as a recognized leader in project financing. It has over 15 years experience in a variety of sectors and countries. Energy projects financed to date include hydro projects in India, Argentina and Pakistan, and thermal projects in Thailand, China, Indonesia and Egypt. Lending criteria used to select projects were outlined, along with the risks endemic to project financing

  19. REIT Performance and Option of Financing Real Estate Project in Developing Countries - (A Case of M-REIT and NREIT

    Directory of Open Access Journals (Sweden)

    Olaopin Olanrele Olusegun

    2014-01-01

    Full Text Available Performance of REITs have been largely measured using benchmark from the stock market indices (S&P500, Sharpe ratio, KLCI, etc or correlation studies. The real world of REIT shows that both economic and environmental factors exert influence on REIT performance on a simultaneous nature. Adopting quantitative method, where secondary data were statistically analysed. We proposed the use of multivariate regression where REIT performance (Y is the independent variable to be predicted by predictor variables of internal and external factors (X1–Xn. We equally proposed a possibility of REIT financing real estate project, against the existing regulations which prohibit such, using average return method of portfolio analysis on assumed numerical data. The study finds that economic factors jointly have a significant effect on REIT performance at P =0.044 while none of the factors has significant contribution individually. A benchmark REIT return of 5.3% is predicted. The study recommends a linear regression model analysis for REITs benchmark based on past performance for return measurement. REIT can only finance real estate project in the countries where there is acute shortage of fund and property stock. We suggest a modification of REIT laws to accommodate real estate financing by REITs.

  20. The Theory of Finance: A novel finance model being formed on the Internet

    OpenAIRE

    Magomet Yandiev

    2015-01-01

    The present paper argues that the present Internet conditions favour an entirely new finance model. Understood to soon supplement the existing ones (classical finance, corporate finance, and Islamic finance), it is argued that the new model will be defined by the destructive effect it is to have on the contemporary financial infrastructure of most countries, and the advent of the ‘future money value exceeds its present one’ principle.

  1. Finance and Management Services

    Science.gov (United States)

    Substance Misuse and Addiction Prevention Finance & Management Services Health Care Services Juvenile health care provider about vitamin D and the risks and benefits of supplementation. Finance and Management Services The Division of Finance and Management Services (FMS) provides financial, administrative

  2. Project financing renewable energy schemes

    International Nuclear Information System (INIS)

    Brandler, A.

    1993-01-01

    The viability of many Renewable Energy projects is critically dependent upon the ability of these projects to secure the necessary financing on acceptable terms. The principal objective of the study was to provide an overview to project developers of project financing techniques and the conditions under which project finance for Renewable Energy schemes could be raised, focussing on the potential sources of finance, the typical project financing structures that could be utilised for Renewable Energy schemes and the risk/return and security requirements of lenders, investors and other potential sources of financing. A second objective is to describe the appropriate strategy and tactics for developers to adopt in approaching the financing markets for such projects. (author)

  3. On pricing futures options on random binomial tree

    International Nuclear Information System (INIS)

    Bayram, Kamola; Ganikhodjaev, Nasir

    2013-01-01

    The discrete-time approach to real option valuation has typically been implemented in the finance literature using a binomial tree framework. Instead we develop a new model by randomizing the environment and call such model a random binomial tree. Whereas the usual model has only one environment (u, d) where the price of underlying asset can move by u times up and d times down, and pair (u, d) is constant over the life of the underlying asset, in our new model the underlying security is moving in two environments namely (u 1 , d 1 ) and (u 2 , d 2 ). Thus we obtain two volatilities σ 1 and σ 2 . This new approach enables calculations reflecting the real market since it consider the two states of market normal and extra ordinal. In this paper we define and study Futures options for such models.

  4. From Finance Capitalism to Financialization

    DEFF Research Database (Denmark)

    Hansen, Per H.

    2014-01-01

    In this article I interpret 150 years of financial history with a focus on shifts in the role of finance in society. I argue that over time the role of finance has shifted twice from that of servant to that of master of society, and that this process has been driven by sense making through...... narratives that legitimized and shaped these changes. When finance became a master rent seeking, cultural capture and out-of control financial innovation resulted in financial and social instability. Finance as a master was the characteristic of finance capitalism from around 1900......–1931 and of financialization from around 1980 to today. Finance capitalism and financialization were enabled by a dominant narrative that legitimized the power of finance. The shifts in the role of finance happened when crises undermined the meaning of the existing narrative and created for a new narrative able to make sense...

  5. Private sector finance for adaptation

    NARCIS (Netherlands)

    Atteridge, A.; Pauw, W.P.; Terpstra, P.; Bedini, F.; Bosi, L; Costella, C.

    2016-01-01

    An emphasis on private finance has emerged in climate finance discussions, particularly in the context of international climate change negotiations. This is partly because the overall volume of finance needed to support adaptation in developing countries is beyond what many expect public finance to

  6. Financing energy projects in Africa

    International Nuclear Information System (INIS)

    Godier, Kevin; Marks, Jon

    1999-12-01

    Contains Executive Summary and Chapters on: Overview of financing trends in Africa; Multilateral support - Bedrock of Africa's first generation energy projects; ECA insurance and financing; Bilateral development finance; Offshore commercial bank lending; Local commercial bank finance; Capital markets; Legal ramifications ; Risk factors; Conclusions. (Author)

  7. Quantitative Finance

    Science.gov (United States)

    James, Jessica

    2017-01-01

    Quantitative finance is a field that has risen to prominence over the last few decades. It encompasses the complex models and calculations that value financial contracts, particularly those which reference events in the future, and apply probabilities to these events. While adding greatly to the flexibility of the market available to corporations and investors, it has also been blamed for worsening the impact of financial crises. But what exactly does quantitative finance encompass, and where did these ideas and models originate? We show that the mathematics behind finance and behind games of chance have tracked each other closely over the centuries and that many well-known physicists and mathematicians have contributed to the field.

  8. Neurosteroid vitamin D system as a nontraditional drug target in neuropsychopharmacology.

    Science.gov (United States)

    Stewart, Adam; Wong, Keith; Cachat, Jonathan; Elegante, Marco; Gilder, Tom; Mohnot, Sopan; Wu, Nadine; Minasyan, Anna; Tuohimaa, Pentti; Kalueff, Allan V

    2010-09-01

    Vitamin D is becoming increasingly recognized as a nontraditional drug target for different brain pathologies. Although widely known for their role in calcium metabolism, vitamin D and its receptor have been linked to several brain disorders, including cognitive decline, epilepsy, affective disorders, and schizophrenia. Here we discuss mounting evidence, and parallel recent clinical and animal behavioral, genetic and pharmacological data to emphasize the emerging role of the neurosteroid vitamin D system in brain function.

  9. Defining the questions: a research agenda for nontraditional authentication in arms control

    Energy Technology Data Exchange (ETDEWEB)

    Hauck, Danielle K [Los Alamos National Laboratory; Mac Arthur, Duncan W [Los Alamos National Laboratory; Smith, Morag K [Los Alamos National Laboratory; Thron, Jonathan L [Los Alamos National Laboratory; Budlong - Sylvester, Kory [Los Alamos National Laboratory

    2010-01-01

    Many traditional authentication techniques have been based on hardware solutions. Thus authentication of measurement system hardware has been considered in terms of physical inspection and destructive analysis. Software authentication has implied hash function analysis or authentication tools such as Rose. Continuity of knowledge is maintained through TIDs and cameras. Although there is ongoing progress improving all of these authentication methods, there has been little discussion of the human factors involved in authentication. Issues of non-traditional authentication include sleight-of-hand substitutions, monitor perception vs. reality, and visual diversions. Since monitor confidence in a measurement system depends on the product of their confidences in each authentication element, it is important to investigate all authentication techniques, including the human factors. This paper will present an initial effort to identify the most important problems that traditional authentication approaches in safeguards have not addressed and are especially relevant to arms control verification. This will include a survey of the literature and direct engagement with nontraditional experts in areas like psychology and human factors. Based on the identification of problem areas, potential research areas will be identified and a possible research agenda will be developed.

  10. Policy environments matters: Access to higher education of non-traditional students in Denmark. Paper presented at the 56th CIES conference, San Juan, Puerto Rico, 22-27 April

    DEFF Research Database (Denmark)

    Milana, Marcella

    2012-01-01

    Despite the massification of higher education that has brought about an increase in the enrollment rates of non-traditional students, and the internationalization of higher education, which has led towards cross-national homogenization when it comes to the typology of educational programs run...... by universities, access of non-traditional students is still a much debated issue. The scope of this paper is to critically examine the policy environment, and related practice, which supports (or hampers) access to higher education of non-traditional students, with a special attention to adult and mature...... from a common ideal that results from cross-national cooperation implemented through the Bologna process. The data source includes relevant scientific literature, policy documents as well as interviews with policy makers, representatives of higher education institutions and non-traditional students...

  11. Project finance of hydroelectric power plants in Brazil; 'Project finance' de usinas hidroeletricas no Brasil

    Energy Technology Data Exchange (ETDEWEB)

    Ribeiro Filho, Valfredo de Assis; Ramos, Maria Olivia de Souza [Universidade Salvador (UNIFACS), BA (Brazil)

    2008-07-01

    The aim of this paper is to discuss the modality of project finance of financing of enterprises, which is the main modality of structuring of hydroelectric projects in Brazil. In the discussion will be highlighted the importance of contracts EPC (Engineering, Search and Construction) in the structuring of project finances. This financing model has particular characteristics related to risk sharing and financial flexibility that enable the financing of projects with long-term capital, however, due to participation of various actors and the nature of the structure of project finance, the negotiation and drafting of contracts are always very complex.

  12. Essays in household finance

    NARCIS (Netherlands)

    Djordjevic, Ljubica

    2015-01-01

    Household finance is a young and vibrant research field that continuously attracts public attention. There may be very few matters that people care so much about as their personal finance. Recent rise of academic interest in household finance is to a great extent due to households’ more active role

  13. Finance

    OpenAIRE

    2011-01-01

    Ces deux ouvrages tirent les enseignements de l’impact de la crise de la finance mondiale sur l’économie réelle et se focalisent, dans ce contexte, sur le financement du Mittelstand. Le banquier JASCHINSKI, lorsqu’il passe en revue le système bancaire allemand, constate ainsi que si les moyennes entreprises trouvent les crédits nécessaires auprès de leurs solides partenaires de toujours que sont les Sparkassen, les grandes sociétés, internationales, que compte le Mittelstand n’ont pas de part...

  14. Financing Canadian international operations

    International Nuclear Information System (INIS)

    Beagle, G.

    1996-01-01

    A primer on financing international operations by Canadian corporations was provided. Factors affecting the availability to project finance (location, political risk), the various forms of financing (debt, equity, and combinations), the main sources of government backed financing to corporations (the International Finance Corporation) (IFC), the European Bank for Reconstruction and Development (EBRD), the Asian Development Bank (ADB), the Overseas Property Insurance Corporation (OPIC), government or agency guarantees, political risk coverage, the use of offshore financial centres, and the where, when and how these various organizations operate, were reviewed. Examples of all of the above, taken from the experiences of Canadian Occidental Petroleum of Calgary in the U.S., in South America, in the Middle and Far East, and in Kazakhstan, were used as illustrations. figs

  15. 24 CFR 883.307 - Financing.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Financing. 883.307 Section 883.307... § 883.307 Financing. (a) Types of financing. A State Agency that used the Fast Track Procedures formerly in this part must provide permanent financing for any new construction or substantial rehabilitation...

  16. Nuclear forensics of a non-traditional sample: Neptunium

    International Nuclear Information System (INIS)

    Doyle, Jamie L.; Schwartz, Daniel; Tandon, Lav

    2016-01-01

    Recent nuclear forensics cases have focused primarily on plutonium (Pu) and uranium (U) materials. By definition however, nuclear forensics can apply to any diverted nuclear material. This includes neptunium (Np), an internationally safeguarded material like Pu and U, that could offer a nuclear security concern if significant quantities were found outside of regulatory control. This case study couples scanning electron microscopy (SEM) with quantitative analysis using newly developed specialized software, to evaluate a non-traditional nuclear forensic sample of Np. Here, the results of the morphological analyses were compared with another Np sample of known pedigree, as well as other traditional actinide materials in order to determine potential processing and point-of-origin

  17. Financing structural interventions: going beyond HIV-only value for money assessments.

    Science.gov (United States)

    Remme, Michelle; Vassall, Anna; Lutz, Brian; Luna, Jorge; Watts, Charlotte

    2014-01-28

    Structural interventions can reduce HIV vulnerability. However, HIV-specific budgeting, based on HIV-specific outcomes alone, could lead to the undervaluation of investments in such interventions and suboptimal resource allocation. We investigate this hypothesis by examining the consequences of alternative financing approaches. We compare three approaches for deciding whether to finance a structural intervention to keep adolescent girls in school in Malawi. In the first, HIV and non-HIV budget holders participate in a cross-sectoral cost-benefit analysis and fund the intervention if the benefits outweigh the costs. In the second silo approach, each budget holder considers the cost-effectiveness of the intervention in terms of their own objectives and funds the intervention on the basis of their sector-specific thresholds of what is cost-effective or not. In the third cofinancing approach, budget holders use cost-effectiveness analysis to determine how much they would be willing to contribute towards the intervention, provided that other sectors are willing to pay for the remaining costs. In addition, we explore approaches for determining the HIV share in the cofinancing scenario. We find that efficient structural interventions may be less likely to be prioritized, financed and taken to scale where sectors evaluate their options in isolation. A cofinancing approach minimizes welfare loss and could be incorporated in a sector budgeting perspective. Structural interventions may be underimplemented and their cross-sectoral benefits foregone. Cofinancing provides an opportunity for multiple HIV, health and development objectives to be achieved simultaneously, but will require effective cross-sectoral coordination mechanisms for planning, implementation and financing.

  18. Contribution of non-traditional lipid profiles to reduced glomerular filtration rate in H-type hypertension population of rural China.

    Science.gov (United States)

    Wang, Haoyu; Li, Zhao; Guo, Xiaofan; Chen, Yintao; Chen, Shuang; Tian, Yichen; Sun, Yingxian

    2018-05-01

    Despite current interest in the unfavourable impact of non-traditional lipid profiles on cardiovascular disease, information regarding its relations to reduced glomerular filtration rate (GFR) in H-type hypertension population has not been systemically elucidated. Analyses were based upon a cross-sectional study of 3259 participants with H-type hypertension who underwent assessment of biochemical, anthropometric and blood pressure values. Reduced GFR was considered if meeting estimated GFR <60 ml/min/1.73 m 2 . A stepwise multivariate regression analysis indicated that non-traditional lipid parameters remained as independent determinants of estimated GFR (all p < .001). In multivariable models, we observed a 50%, 51%, 31%, and 24% higher risk for decreased GFR with each SD increment in TC/HDL-C, TG/HDL-C, LDL-C/HDL-C ratios and non-HDL-C levels, respectively. The highest quartile of TC/HDL-C, TG/HDL-C and LDL-C/HDL-C ratios carried reduced GFR odds (confidence intervals) of 5.50 (2.50 to 12.09), 6.63 (2.58 to 17.05) and 2.22 (1.15 to 4.29), respectively. The relative independent contribution of non-traditional lipid profiles, as indexed by TC/HDL-C, TG/HDL-C, LDL-C/HDL-C ratios and non-HDL-C, towards reduced GFR putting research evidence at the very heart of lipoprotein-mediated renal injury set a vital example for applying a clinical and public health recommendation for reducing the burden of chronic kidney disease. KEY MESSAGES Non-traditional lipid profiles has been linked with the occurrence of cardiovascular disease, but none of the studies that address the effect of non-traditional lipid profiles on reduced GFR risk in H-type hypertension population has been specifically established. A greater emphasis of this study resided in the intrinsic value of TC/HDL-C, TG/HDL-C, LDL-C/HDL-C ratios and non-HDL-C that integrate atherogenic and anti-atherogenic lipid molecules to predict the risk of reduced GFR among H-type hypertension population and provide

  19. Catastrophe risk data scoping for disaster risk finance in Asia

    Science.gov (United States)

    Millinship, Ian; Revilla-Romero, Beatriz

    2017-04-01

    Developing countries across Latin America, Africa, and Asia are some of the most exposed to natural catastrophes in the world. Over the last 20 years, Asia has borne almost half the estimated global economic cost of natural disasters - around 53billion annually. Losses from natural disasters can damage growth and hamper economic development and unlike in developed countries where risk is reallocated through re/insurance, typically these countries rely on budget reallocations and donor assistance in order to attempt to meet financing needs. There is currently an active international dialogue on the need to increase access to disaster risk financing solutions in Asia. The World Bank-GFDRR Disaster Risk Financing and Insurance Program with financial support from the Rockefeller Foundation, is currently working to develop regional options for disaster risk financing for developing countries in Asia. The first stage of this process has been to evaluate available catastrophe data suitable to support the design and implementation of disaster risk financing mechanisms in selected Asian countries. This project was carried out by a consortium of JBA Risk Management, JBA Consulting, ImageCat and Cat Risk Intelligence. The project focuses on investigating potential data sources for fourteen selected countries in Asia, for flood, tropical cyclone, earthquake and drought perils. The project was carried out under four stages. The first phase focused to identify and catalogue live/dynamic hazard data sources such as hazard gauging networks, or earth observations datasets which could be used to inform a parametric trigger. Live data sources were identified that provide credibility, transparency, independence, frequent reporting, consistency and stability. Data were catalogued at regional level, and prioritised at local level for five countries: Bangladesh, Indonesia, Pakistan, Sri Lanka and Viet Nam. The second phase was to identify, catalogue and evaluate catastrophe risk models

  20. When Nontraditional Is Traditional: A Faculty Dialogue with Graduating Community College Students about Persistence

    Science.gov (United States)

    Clark, Lisa

    2012-01-01

    Nontraditional characteristics of community college students contribute to a sense of belonging and a sense of common struggle, uniting students in their uniqueness to persist. These diverse students, combined with faculty and peer encouragement, provide a learning environment conducive to completion. As community college educators, we have the…

  1. Motivational Orientations of Non-Traditional Adult Students to Enroll in a Degree-Seeking Program

    Science.gov (United States)

    Francois, Emmanuel Jean

    2014-01-01

    The purpose of this research was to investigate the motivational orientations of non-traditional adult students to enroll in a degree-seeking program based on their academic goal. The Education Participation Scale (EPS) was used to measure the motivational orientations of participants. Professional advancement, cognitive interest, and educational…

  2. 24 CFR 882.405 - Financing.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Financing. 882.405 Section 882.405... § 882.405 Financing. (a) Types. Any type of public or private financing may be utilized with the... Contract as security for financing. An Owner may pledge, or offer as security for any loan or obligation...

  3. Traditional and non-traditional treatments for autism spectrum disorder with seizures: an on-line survey.

    Science.gov (United States)

    Frye, Richard E; Sreenivasula, Swapna; Adams, James B

    2011-05-18

    Despite the high prevalence of seizure, epilepsy and abnormal electroencephalograms in individuals with autism spectrum disorder (ASD), there is little information regarding the relative effectiveness of treatments for seizures in the ASD population. In order to determine the effectiveness of traditional and non-traditional treatments for improving seizures and influencing other clinical factor relevant to ASD, we developed a comprehensive on-line seizure survey. Announcements (by email and websites) by ASD support groups asked parents of children with ASD to complete the on-line surveys. Survey responders choose one of two surveys to complete: a survey about treatments for individuals with ASD and clinical or subclinical seizures or abnormal electroencephalograms, or a control survey for individuals with ASD without clinical or subclinical seizures or abnormal electroencephalograms. Survey responders rated the perceived effect of traditional antiepileptic drug (AED), non-AED seizure treatments and non-traditional ASD treatments on seizures and other clinical factors (sleep, communication, behavior, attention and mood), and listed up to three treatment side effects. Responses were obtained concerning 733 children with seizures and 290 controls. In general, AEDs were perceived to improve seizures but worsened other clinical factors for children with clinical seizure. Valproic acid, lamotrigine, levetiracetam and ethosuximide were perceived to improve seizures the most and worsen other clinical factors the least out of all AEDs in children with clinical seizures. Traditional non-AED seizure and non-traditional treatments, as a group, were perceived to improve other clinical factors and seizures but the perceived improvement in seizures was significantly less than that reported for AEDs. Certain traditional non-AED treatments, particularly the ketogenic diet, were perceived to improve both seizures and other clinical factors.For ASD individuals with reported

  4. The international Finance Corporation and financing of sustainable energy

    International Nuclear Information System (INIS)

    Younger, D.R.

    1999-01-01

    The International Finance Corporation (IFC), a member of the World Bank Group, is the largest multilateral source of loan and equity financing for private sector projects in the developing world. IFC participates in an investment only when it can make a special contribution that complements the role of market operators. Since its founding 40 years ago, IFC has provided more than $18.8 billion in financing for 1,706 companies in developing countries. Its share capital is provided by its 170 member countries, which collectively determine its policies and activities. Strong shareholder support and a substantial paid-in capital base have allowed IFC to raise funds for its lending activities through its triple-A rated bond issues in international financial markets. (orig.)

  5. An economic theory of Islamic finance

    Directory of Open Access Journals (Sweden)

    Mabid Ali Al-Jarhi

    2017-07-01

    Full Text Available Purpose - This paper aims to provide an economic rationale for Islamic finance. Design/methodology/approach - Its methodology is simple. It starts with listing the contributions to economic analysis relevant to the required rationale in the theories of banking, finance, price, money and macroeconomics, to identify the main rationale for Islamic finance. A concise description of the author’s model for an Islamic economic system, within which Islamic finance can be operational, is provided. Findings - The paper finds distinct advantages of Islamic finance, when properly applied within the author’s model. Islamic finance can therefore be a candidate as a reform agenda for conventional finance. It opens the door for significant monetary reform in currently prevalent economic systems. Research limitations/implications - The first limitation of the paper is that the distinct benefits of Islamic finance are all of macroeconomic types which are external to Islamic banking and finance institutions. They are therefore not expected to motivate such institutions to apply Islamic finance to the letter, without regulators interference to ensure strict application. The second limitation is the necessity to set up enabling institutional and regulatory arrangements for Islamic finance. Originality/value - The results are unique as they challenge the received doctrine and provide non-religious rationale for Islamic finance.

  6. The Finance Curse

    DEFF Research Database (Denmark)

    Christensen, John; Shaxson, Nick; Wigan, Duncan

    2016-01-01

    The Global Financial Crisis placed the utility of financial services in question. The crash, great recession, wealth transfers from public to private, austerity and growing inequality cast doubt on the idea that finance is a boon to the host economy. This article systematizes these doubts......, economic instability, inequality, conflict, rent-seeking and corruption. The Finance Curse produces similar effects, often for similar reasons. Beyond a point, a growing financial sector can do more harm than good. Unlike the Resource Curse, these harms transcend borders. The concept of a Finance Curse...

  7. Statistics for Finance

    DEFF Research Database (Denmark)

    Lindström, Erik; Madsen, Henrik; Nielsen, Jan Nygaard

    Statistics for Finance develops students’ professional skills in statistics with applications in finance. Developed from the authors’ courses at the Technical University of Denmark and Lund University, the text bridges the gap between classical, rigorous treatments of financial mathematics...

  8. Gender Differences in School-Family Conflict and School-Family Enrichment in Nontraditional Portuguese Students

    Science.gov (United States)

    Andrade, Cláudia; van Rhijn, Tricia; Coimbra, Susana

    2017-01-01

    In recent years, higher education institutions have made efforts to attract people who are either in the labor market or unemployed to the educational system. Accordingly, the participation of nontraditional students in postsecondary education has been increasing over the years in Portugal, including working students and working student parents.…

  9. Islamic Public Infrastructure Financing: An Analysis of Alternative Financing Instruments with Application in Developing Countries

    National Research Council Canada - National Science Library

    Islam, Saiful

    2004-01-01

    This project examines the structure of public infrastructure financing in Indonesia and examines whether financing based on Islamic principles is a feasible alternative to current financing mechanisms...

  10. A roadmap to parity in mental health financing: the case of Lebanon.

    Science.gov (United States)

    Yehia, Farah; Nahas, Ziad; Saleh, Shadi

    2014-09-01

    Inadequate access to mental health (MH) services in Lebanon, where prevalence is noteworthy, is a concern. Although a multitude of factors affects access to services, lack of financial coverage of MH services is one that merits further investigation. This study aims at providing a systematic description of MH financing systems with a special focus on Lebanon, presenting stakeholder viewpoints on best MH financing alternatives/strategies and recommending options for enhancing financial coverage. A comprehensive review of existing literature on MH financing systems was conducted, with a focus on the system in Lebanon. In addition, key stakeholders were interviewed to assess MH organizational and financing arrangements. Finally, a national round table was organized with the aim of discussing findings (from the review and interviews) and developing an action roadmap. Taxation and out-of-pocket payments are the most common MH financing sources worldwide and in the Eastern Mediterranean Region. In Lebanon, all funding entities, except private insurance and mutual funds, cover inpatient and outpatient MH services, albeit with inconsistencies in levels of coverage. The national roundtable recommended two main MH financing enhancements: (i) creating a knowledge-sharing committee between insurers and MH specialists, and (ii) convincing labor unions/representatives to lobby for MH coverage as part of the negotiated benefit package. There are concerns regarding the equity, effectiveness and efficiency of the MH financing system in Lebanon. The fragmented system in Lebanon leads to differences in MH coverage across different financing intermediaries, which is inequitable. The fact that one out of four Lebanese suffer a mental disorder throughout their lives and very low percentages of those obtain treatment signals a problem in effectiveness. As for efficiency, the inefficient fragmentation of MH financing among seven intermediaries is a problematic characteristic of the

  11. Marlim project finance; 'Project finance' de Marlim

    Energy Technology Data Exchange (ETDEWEB)

    D' Almeida, Albino Lopes [PETROBRAS, Rio de Janeiro, RJ (Brazil)

    2004-07-01

    Project Finance is often used worldwide to raise the funds to develop big projects, particularly in the area of power and infra-structure. It is designed to support a singular project and a specific purpose company is created to obtain the financing. The debt payment is secured by the enterprise's cash flow, avoiding real guarantee requirements. The lenders receive the future revenues and the property of the assets to be built. The risks are mitigated by agreements exhaustively negotiated among the parties. One of the most important Project Finances performed in Brazil is the Marlim Project, structured in order to complete the development of the Marlim oil field. This is the biggest Brazilian oil field, producing more than 500,000 barrels a day, almost 35% of the national production. This paper presents the general concepts related to this type of financing and general information about the project, including its structuring, negotiation and closing. The total commitment reaches US$ 1.5 billion obtained in both domestic and international markets through equity, bridge loan, bonds and commercial papers. Its whole life is 10 years, using 2 special purpose companies in its configuration. (author)

  12. Financing models for HTR plants: Co-financing, counter trade, joint ventures

    International Nuclear Information System (INIS)

    Bogen, J.; Stoelzl, D.

    1987-01-01

    Structure and volume of investment cost for HTR nuclear power plants are different in comparison to other types of nuclear power plants. Even if the share of local participation is in comparable order of magnitude to other nuclear power plants, the required technical infrastructure for HTR plants is more suitable for existing and still practised technologies in countries which are in development processes. These HTR specific features offer special possibilities in HTR project financing. Various models are discussed in respect of the special HTR situation. Even if it is not possible to point out in a general manner the best solution - due to national, local and time dependant situations - this paper discusses the HTR specific impacts to buyer's credit financing, supplier's credit financing, barter trades or joint ventures and combined financing. (author). 4 refs, 9 figs

  13. A non-traditional multinational approach to construction inspection program

    International Nuclear Information System (INIS)

    Ram, Srinivasan; Smith, M.E.; Walker, T.F.

    2007-01-01

    The next generation of nuclear plants would be fabricated, constructed and licensed in markedly different ways than the present light water reactors. Non-traditional commercial nuclear industry suppliers, shipyards in Usa and international fabricators, would be a source to supply major components and subsystems. The codes of construction may vary depending upon the prevailing codes and standards used by the respective supplier. Such codes and standards need to be reconciled with the applicable regulations (e.g., 10 CFR 52). A Construction Inspection Program is an integral part of the Quality Assurance Measures required during the Construction Phase of the power plant. In order to achieve the stated cost and schedule goals of the new build plants, a nontraditional multi-national approach would be required. In lieu of the traditional approach of individual utility inspecting the quality of fabrication and construction, a multi-utility team approach is a method that will be discussed. Likewise, a multinational cooperative licensing approach is suggested taking advantage of inspectors of the regulatory authority where the component would be built. The multi-national approach proposed here is based on the principle of forming teaming agreements between the utilities, vendors and the regulators. For instance, rather than sending Country A's inspectors all over the world, inspectors of the regulator in Country B where a particular component is being fabricated would in fact be performing the required inspections for Country A's regulator. Similarly teaming arrangements could be set up between utilities and vendors in different countries. The required oversight for the utility or the vendor could be performed by their counterparts in the country where a particular item is being fabricated

  14. Determinants of Funds Demand and Supply; Deepening Finance Access of Real Estate Investment in China

    Directory of Open Access Journals (Sweden)

    Lkhagvasuren Togtokhbuyan

    2012-11-01

    Full Text Available This huge gap between financing needs and the available financing capacity represents major constraints to growth opportunities in business financing, and accords with one of requirements strategy of stimulating real sector financing by mobilizing cheap long term saving. Real estate investment is a capital intensive venture and this implies that firms venturing into this sector need to have a strong capital structure to sustain development. There is high competition amongst the real developers in quest for funds from formal and informal sources to meet their financial needs. Many real Estate firms are experiencing a credit fix. In the recent move by the Peoples Bank of China to clamp down lending in the real estate sector; the People’s bank of China tightened monetary policy by raising interest rates which in effect lead to increased cost of capital. The central government has also encouraged banks to adopt slow lending to real estate projects. According to the People's Bank of China (PBOC, the increase in cumulative loans related to housing projects totaled ¥1.3 trillion ($198 billion in 2011, down 38 percent from 2010, and new loans to the property sector comprised 17.5 percent of total loans in 2011, down from 27 percent in 2010.The remaining prudent alternative is innovation for exploitation of other means of acquiring funds for real estate venture. Real estate investors need to deepen and broaden their options of financing their activities to avoid credit squeeze.

  15. The influence of jumping risk and volatility risk on TAIEX option return

    Science.gov (United States)

    Lee, Wei-Long; Hsieh, Ching-Tang; Huang, Jui-Chan; Wu, Tzu-Jung

    2017-06-01

    Due to the low profits in recent years environmental, as well as the development of financial engineering that promote the derivatives trading Volume increased. Moreover, the fastest-growing of selected right and the lack of research about option risk. This study aim to explore the relationship between the risk and reward of selected right in Taiwan index. This study focus on the pricing the jump risk of selected right in Taiwan index. Using cross-sectional data as a 12-month study period, using the iteration method to research the effects of abnormal returns, the result shows that different risk factors of fluctuations affected the abnormal returns obviously will cause risk premium as well as the jump risk which consistent with the theory of behavioral finance. However, according to traditional finance theory, contrary to the results of this study consider that higher risks should generate higher-paying as well. According this study, the investors in behavioral finance in modern financial theory is not rational, and the trading behavior is non-random, moreover, the financial market is non-efficiency. Instead, the high risk low reward.

  16. Sharing of risks in Islamic finance

    OpenAIRE

    Sekreter, Ahmet

    2011-01-01

    For most of the people the prohibition on interest is the well known part of Islamic finance. Indeed, the concept of Islamic finance was not being discussed enough till financial crisis, after crisis it started to be seen as an alternative financial system for conventional finance. Sharing the risks is the main concept of Islamic finance and one of the main differences between conventional and Islamic finance. Depositors/savers do not bear any risk in conventional finance however Islamic fina...

  17. Evaluating The Financial Consequences of Different Financing Structure for Nuclear Power Project under Malaysian Market

    International Nuclear Information System (INIS)

    Muhammed Zulfakar Zolkaffly; Faisal Izwan Abdul Rashid; Siti Syarina Mat Sali; Fairuz Suzana Mohd Chachuli; Mohd Azmi Sidid Omar

    2016-01-01

    Full text: In 2010, Malaysia through the Economic Transformation Programme (ETP) has initiated an effort to explore nuclear energy as an option for electricity generation post-2020 in order to meet country's growing energy demand and diversify its energy mix. To date, Malaysia is focusing its efforts on the preparatory activities, pending to make decision to embark on nuclear power project. The development of nuclear power plants is a major undertaking for any country which that requires huge financial implications and commitments. On this note, this paper aims at evaluating the financial consequences of different financing structure for nuclear power project under Malaysian market condition, based on two key financial indicators, namely, Net Present Value (NPV) and Internal Rate of Return (IRR). The computer model FINPLAN developed by the IAEA was used to perform this study. The result shows that different financing structure significantly affect the sensitivity of NPV and IRR, that may be of interest to the investors in exploring viable financing structure for nuclear power project development. (author)

  18. Non-Traditional Students and Critical Pedagogy: Transformative Practice and the Teaching of Criminal Law

    Science.gov (United States)

    Menis, Susanna

    2017-01-01

    This article explores the practical implication of adopting critical pedagogy, and more specifically critical legal pedagogy, in the teaching of non-traditional students in higher education context. It is based on the teaching of criminal law at Birkbeck School of Law, addressing learning tasks which have been designed to enhance students'…

  19. Using Virtual Reality for Task-Based Exercises in Teaching Non-Traditional Students of German

    Science.gov (United States)

    Libbon, Stephanie

    2004-01-01

    Using task-based exercises that required web searches and online activities, this course introduced non-traditional students to the sights and sounds of the German culture and language and simultaneously to computer technology. Through partner work that required negotiation of the net as well as of the language, these adult beginning German…

  20. Caring finance practices

    NARCIS (Netherlands)

    I.P. van Staveren (Irene)

    2013-01-01

    textabstractThe 2008 financial crisis has demonstrated the failure of both utilitarian and deontological ethics in finance. Alternatives do not need to be created from nothing, because the crisis itself has stimulated the emergence of ethically sound finance practices from within the sector. This

  1. 48 CFR 32.114 - Unusual contract financing.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Unusual contract financing... CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 32.114 Unusual contract financing. Any contract financing arrangement that deviates from this part is unusual contract financing...

  2. FINANCING DECISION AND CORPORATE GOVERNANCE

    OpenAIRE

    ANDREI STANCULESCU; DAN NICOLAE IVANESCU; PETRE BREZEANU

    2011-01-01

    This paper sustains the existence of a biunivocal link between a company’s financing decision and the corporate governance. On the one hand, the financing decision has an impact on corporate performance, which has been confirmed. According to the agency theory, the financing decision will contribute to solving interest conflicts between shareholders and managers. On the other hand, the corporate governance mechanism provides the proper contractual framework for attracting financing resources....

  3. APPLIED BEHAVIORAL FINANCE IN A POST-CRISIS ENVIRONMENT: EMOTIONAL FINANCE

    Directory of Open Access Journals (Sweden)

    ADRIAN MITROI

    2014-05-01

    Full Text Available In the pursuit of understanding the behavior of the market player, the basic argument relays on the supposition that the risk appetite increases exactly at the worst moment - when the capacity to assume additional risk decreases significantly. People view a sample randomly drawn from a population as highly representative and cvasi similar to the population in all its essential characteristics. They expect any two samples drawn from a particular population to be more similar to one another and to the population than is statistically justifiable. This behavior is different from the tenets of classic finance theory. The gap between from theory to the practice of Behavioral Finance (BiFi- nickname has direct application to the investment management practice. Students of Behavioral Finance can develop skills to be employed in their practices for their clients. Behavioral Finance can teach about mental, emotional, psychological and social biases that lead to mistakes and biases o market efficiency, pricing anomalies and other market dynamics and risk – return investment outcomes.

  4. Men in Traditional and Nontraditional Careers: Gender Role Attitudes, Gender Role Conflict, and Job Satisfaction

    Science.gov (United States)

    Dodson, Thomas A.; Borders, L. DiAnne

    2006-01-01

    Men established in traditional (mechanical engineering, n = 100) and nontraditional (elementary school counseling, n = 100) careers were compared on their career compromise choices (sex type vs. prestige), adherence to masculinity ideology, gender role conflict, and job satisfaction. The engineers tended to choose sex type over prestige; the…

  5. Geothermal Financing Workbook

    Energy Technology Data Exchange (ETDEWEB)

    Battocletti, E.C.

    1998-02-01

    This report was prepared to help small firm search for financing for geothermal energy projects. There are various financial and economics formulas. Costs of some small overseas geothermal power projects are shown. There is much discussion of possible sources of financing, especially for overseas projects. (DJE-2005)

  6. The managerial process of business financing

    Directory of Open Access Journals (Sweden)

    Solomia Andres

    2008-10-01

    Full Text Available This paper presents some modalities and financing forces for business, getting out in the first place the entrepreneur ingenuity for finding these sources of financing necessary for the business success. Also get some contributions and proposals regarding the criteria’s of which the entrepreneur must be take care in choosing the financial sources, for preparing the finance pack and presenting the financing demands, which good documented, not only grows up the chances of one financing but also can lead to fix some relations on long time with financing source.

  7. Financing green energy projects in Malaysia

    International Nuclear Information System (INIS)

    Eddynor Manshor; Yvonne Lunsong; Norhayati Kamaruddin

    2000-01-01

    Kyoto Protocol is the first global commitment to reduce greenhouse gas (GHG) emissions. Malaysia, which signed the Protocol on 12 March 1999, must also take steps to address the climate change concerns. The use of renewable energy sources is seen as a feasible way to address the issue. Despite their environment-friendliness, these sources of energy are grossly under-utilised even though Malaysia is amply endowed with renewable energies, particularly biomass and solar. As a unique domestic resource, recurring energy savings from energy efficiency could also qualify as renewable energy. At present, the contribution of renewable energy in the country's energy mix is very small compared to its large potential. The Malaysian Government recognizes the potential of this form of energy. As part of its fuel diversification policy, the government plans to expand the four-fuel strategy to include renewable energy as the fifth fuel. Due to all year constant sunshine and vast oil palm cultivation, both solar and palm oil residues are identified as the most promising green energy option. Efforts are underway to embark on programs to demonstrate and evaluate the viability of these emerging green technologies. A few organizations are given grants to undertake pre-feasibility studies of pre-commercialization demonstration projects. When approved, viable projects could also qualify for technical and financial assistance from foreign partners. However, grants are limited and under World Trade Organization rules such subsidies should not exceed 30 percent in most cases. Commercialization of green energy projects must therefore involve full participation of private developers and financial institutions. Yet, virtually no attempt is made to promote financing of such projects in Malaysia. In most cases, financial institutions are not aware of the economic potential of these unique and under exploited sources. This paper will discuss problems in financing green energy projects and then

  8. Point Climat no. 27 'Unlocking private investments in energy efficiency through carbon finance'

    International Nuclear Information System (INIS)

    Shishlov, Igor; Bellassen, Valentin

    2013-01-01

    Among the publications of CDC Climat Research, 'Climate Briefs' presents, in a few pages, hot topics in climate change policy. This issue addresses the following points: According to the latest IEA World Energy Outlook, energy efficiency is a 'key option' in transition to a low-carbon economy. A decade of experience with the CDM and JI demonstrates that carbon finance can be used as an effective tool to unlock private investments in energy efficiency. Capital investments in offset projects may significantly exceed the expected carbon revenues resulting in an average weighted leverage ratio of 4:1 and 9:1 for the CDM and JI respectively, which is comparable to other international financial instruments. So far carbon finance has been used mostly for large-scale industrial energy efficiency projects in advanced developing countries and economies in transition, although it is increasingly suited to tap into scattered household energy efficiency projects

  9. Public financing of the Medicare program will make its uniform structure increasingly costly to sustain.

    Science.gov (United States)

    Baicker, Katherine; Shepard, Mark; Skinner, Jonathan

    2013-05-01

    The US Medicare program consumes an ever-rising share of the federal budget. Although this public spending can produce health and social benefits, raising taxes to finance it comes at the cost of slower economic growth. In this article we describe a model incorporating the benefits of public programs and the cost of tax financing. The model implies that the "one-size-fits-all" Medicare program, with everyone covered by the same insurance policy, will be increasingly difficult to sustain. We show that a Medicare program with guaranteed basic benefits and the option to purchase additional coverage could lead to more unequal health spending but slower growth in taxation, greater overall well-being, and more rapid growth of gross domestic product. Our framework highlights the key trade-offs between Medicare spending and economic prosperity.

  10. What is project finance?

    OpenAIRE

    João M. Pinto

    2017-01-01

    Project finance is the process of financing a specific economic unit that the sponsors create, in which creditors share much of the venture’s business risk and funding is obtained strictly for the project itself. Project finance creates value by reducing the costs of funding, maintaining the sponsors financial flexibility, increasing the leverage ratios, avoiding contamination risk, reducing corporate taxes, improving risk management, and reducing the costs associated with market ...

  11. Financing Constraints and Entrepreneurship

    OpenAIRE

    William R. Kerr; Ramana Nanda

    2009-01-01

    Financing constraints are one of the biggest concerns impacting potential entrepreneurs around the world. Given the important role that entrepreneurship is believed to play in the process of economic growth, alleviating financing constraints for would-be entrepreneurs is also an important goal for policymakers worldwide. We review two major streams of research examining the relevance of financing constraints for entrepreneurship. We then introduce a framework that provides a unified perspecti...

  12. The Housing Finance Revolution

    OpenAIRE

    Richard K. Green; Susan M. Wachter

    2007-01-01

    While other countries dismantled their segmented housing finance systems and linked housing finance to capital markets through deregulated depositories, the US linked housing finance to capital markets through depository deregulation and securitization. Elsewhere securitization has not developed. The US provided the underpinnings for its mortgage security infrastructure with the creation of FNMA in 1938 and in order to create liquidity in the mortgage market required the standardization of mo...

  13. Innovations in Funding the Maritime Prepositioning Ships Program - A Case Analysis of the How and Why the Lease Option was Successful

    National Research Council Canada - National Science Library

    Bailey, John

    2004-01-01

    ... and equipment in strategic areas of the world. It will explain why the lease option was eventually approved when initially so many participants in the decision-making process objected to this type of financing for shipbuilding...

  14. 48 CFR 32.109 - Termination financing.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Termination financing. 32... CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 32.109 Termination financing. To encourage contractors to invest their own funds in performance despite the susceptibility of...

  15. Risk Sharing in Corporate and Public Finance: The Contribution of Islamic Finance

    Directory of Open Access Journals (Sweden)

    Obiyathulla Ismath Bacha

    2015-09-01

    Full Text Available Financial crises have become a recurring problem for modern economies with increasingly detrimental fallouts. Risk-sharing finance (RSF contracts may be the best instrument for addressing the problem and its fallout, and in particular the risk-sharing principles of Islamic finance offer a potential alternative. This paper offers some preliminary thoughts on the design and implementation of RSF for both private and public sector funding, for revenue and non-revenue generating projects. It is argued that such form of financing avoids the leverage of conventional debt, minimizes the costs of dilution, reduces macroeconomic vulnerability, and enhances financial inclusion. It also has the potential to be a less risky alternative for developing countries to finance public spending and economic growth. JEL Classifications: G32, P43, O16

  16. Stochastic processes from physics to finance

    CERN Document Server

    Paul, Wolfgang

    2013-01-01

    This book introduces the theory of stochastic processes with applications taken from physics and finance. Fundamental concepts like the random walk or Brownian motion but also Levy-stable distributions are discussed. Applications are selected to show the interdisciplinary character of the concepts and methods. In the second edition of the book a discussion of extreme events ranging from their mathematical definition to their importance for financial crashes was included. The exposition of basic notions of probability theory and the Brownian motion problem as well as the relation between conservative diffusion processes and quantum mechanics is expanded. The second edition also enlarges the treatment of financial markets. Beyond a presentation of geometric Brownian motion and the Black-Scholes approach to option pricing as well as the econophysics analysis of the stylized facts of financial markets, an introduction to agent based modeling approaches is given.

  17. The Challenge of Islamic Finance

    OpenAIRE

    Sheng, Andrew; Singh, Ajit

    2012-01-01

    From its humble beginnings in the 1990s, Islamic finance has become a trillion US dollar industry. The market consensus is that Islamic finance has a bright future due to favourable demographics and rising incomes in the Muslim community. Moreover, despite voices sceptical of an accommodation between Islamic and global finance, leading global banks are buying Islamic bonds and forming subsidiaries specially to conduct Islamic finance business. Special laws have been passed in non-Muslim fi...

  18. Financing Innovation

    OpenAIRE

    William R. Kerr; Ramana Nanda

    2014-01-01

    We review the recent literature on the financing of innovation, inclusive of large companies and new startups. This research strand has been very active over the past five years, generating important new findings, questioning some long-held beliefs, and creating its own puzzles. Our review outlines the growing body of work that documents a role for debt financing related to innovation. We highlight the new literature on learning and experimentation across multi-stage innovation projects and h...

  19. Financing Sustainable Development

    DEFF Research Database (Denmark)

    Fejerskov, Adam Moe; Funder, Mikkel; Engberg-Pedersen, Lars

    . But what are in fact the interests and modes of operation of such actors in the context of development financing, and to what extent do they align with the aims of the SDGs? And how do national governments of developing countries themselves perceive and approach these new sources of financing?...

  20. Brazil’s fight against narcotraffic in the border with Colombia. An approach to the restrains of non-traditional threats over foreign policy

    Directory of Open Access Journals (Sweden)

    Emilse Calderón

    2014-05-01

    Full Text Available In the post-Cold War international scenario, the non-traditional nature of security threats conditions the states’ foreign policies. An example of the above is the policy employed by Brazil regarding the border shared with Colombia regarding the development that narcotraffic has been having since the end of the 20th century. Therefore, this article proposes a brief analysis around the influence exercised by the non-traditional nature of the drug traffic threat over the design of Brazilian foreign policy between 1999 and 2010.

  1. 12 CFR 985.4 - Finance Board oversight.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Finance Board oversight. 985.4 Section 985.4 Banks and Banking FEDERAL HOUSING FINANCE BOARD OFFICE OF FINANCE THE OFFICE OF FINANCE § 985.4 Finance Board oversight. (a) Oversight and enforcement actions. The Finance Board shall have the same regulatory oversight authority and enforcement powers...

  2. The Importance of Venture Capital Financing System in Financing Entrepreneurship: Applications in Turkey

    OpenAIRE

    Erkan Poyraz; Yusuf Tepeli

    2016-01-01

    The prominent concept of venture capital is examined as a financing model to the financing of entrepreneurship according to related literature. Venture capital is used with success in developed countries for a long time. Venture capital is a modern financing model that allows entrepreneurs to perform dynamic, creative, and innovative investment ideas as well as management, marketing and business support without requesting financial strength from those entrepreneurs. However, venture capital h...

  3. Project Finance: Basic Components

    OpenAIRE

    Alfieri Li Ojeda, Jaime

    2015-01-01

    The natural speed of the contemporary world demands large investment projects which require specialized financial techniques such as Project Finance, defined as a fund to finance investment projects of great magnitude. Every Project Finance involves a wide range of elements such as promoters, government, contractors andsuppliers, among others, that will ensure project success. La rapidez del mundo contemporáneo exige que los grandes proyectos de inversión requieran de técnicas financieras ...

  4. 48 CFR 12.210 - Contract financing.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Contract financing. 12.210... financing. Customary market practice for some commercial items may include buyer contract financing. The contracting officer may offer Government financing in accordance with the policies and procedures in part 32. ...

  5. SABER-School Finance: Data Collection Instrument

    Science.gov (United States)

    King, Elizabeth; Patrinos, Harry; Rogers, Halsey

    2015-01-01

    The aim of the SABER-school finance initiative is to collect, analyze and disseminate comparable data about education finance systems across countries. SABER-school finance assesses education finance systems along six policy goals: (i) ensuring basic conditions for learning; (ii) monitoring learning conditions and outcomes; (iii) overseeing…

  6. Asset Pricing Implications of Firms' Financing Constraints

    OpenAIRE

    Gomes, Joao F; Yaron, Amir; Zhang, Lu

    2002-01-01

    We incorporate costly external finance in a production based asset pricing model and investigate whether financing frictions are quantitatively important for pricing a cross-section of expected returns. We show that the common assumptions about the nature of the financing frictions are captured by a simple ‘financing cost’ function, equal to the product of the financing premium and the amount of external finance. This approach provides a tractable framework to examine the role of financing fr...

  7. Financing bidders in takeover contests

    NARCIS (Netherlands)

    Vladimirov, V.

    2014-01-01

    This paper studies how bidders' choice of financing for cash bids affects takeover prices. Endogenizing this choice shows that takeover premia are lower than when bidders are not cash-constrained for equity-like financing, but higher for debt financing. Intuitively, unlike debt (which leads to

  8. DefenseLink Feature: Personal Finance

    Science.gov (United States)

    Multimedia / Photos Videos Publications Bloggers DoD Websites Personal Finance Resources As part of the finance director said here recently. Story Security Expert Advises Troops to Safeguard Personal, Financial education in personal finance that commanders say goes a long way in promoting battle readiness. Story

  9. 48 CFR 32.113 - Customary contract financing.

    Science.gov (United States)

    2010-10-01

    ... financing. 32.113 Section 32.113 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 32.113 Customary contract financing. The solicitation must specify the customary contract financing offerors may...

  10. A Model-Free No-arbitrage Price Bound for Variance Options

    Energy Technology Data Exchange (ETDEWEB)

    Bonnans, J. Frederic, E-mail: frederic.bonnans@inria.fr [Ecole Polytechnique, INRIA-Saclay (France); Tan Xiaolu, E-mail: xiaolu.tan@polytechnique.edu [Ecole Polytechnique, CMAP (France)

    2013-08-01

    We suggest a numerical approximation for an optimization problem, motivated by its applications in finance to find the model-free no-arbitrage bound of variance options given the marginal distributions of the underlying asset. A first approximation restricts the computation to a bounded domain. Then we propose a gradient projection algorithm together with the finite difference scheme to solve the optimization problem. We prove the general convergence, and derive some convergence rate estimates. Finally, we give some numerical examples to test the efficiency of the algorithm.

  11. Book review: OF OTHER THOUGHTS: NON-TRADITIONAL WAYS TO THE

    Directory of Open Access Journals (Sweden)

    Johan Verbeke

    2014-12-01

    Full Text Available Research paradigms in the fields of architecture and arts have been developing and changing during the last decade. Part of this development is a shift to include design work and artistic work into the knowledge processes of doctoral work. This work evidently also needs supervision. At the same time doctoral degrees have been developing in relation to indigenous ways of thinking. The book Other Thoughts: Non-Traditional Ways to the Doctorate discusses the challenges one is facing, either as a PhD student or as a supervisor, when doing or supervising a PhD in a less established field.

  12. 7 CFR 3560.71 - Construction financing.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Construction financing. 3560.71 Section 3560.71... Construction financing. (a) Construction financing plan. Prior to loan approval, applicants must submit to the Agency for its concurrence a plan for the construction financing and securing of the loan. (b) Interim...

  13. Financing urban adaptation to climate change impacts mapping of existing initiatives

    International Nuclear Information System (INIS)

    Eschalier, Claire; Leseur, Alexia; Archambault, Sabrina; Joubert, Marion; Larrue, Clement; Rossin, Nicolas; Salenson, Irene

    2015-01-01

    In June 2015, CDC Climat research, in partnership with AFD, published a mapping of the types of initiatives available for the financing of urban adaptation to climate change, offering additional options to more conventional sources of funding for climate change and sustainable development (national budget transfers, Official Development Aid, etc.). Based on the review of 27 main initiatives, the report shows a strong prevalence of initiatives supporting soft adaptation measures (strategy planning, capacity building, project design, technical assistance, etc). These are in a position to help support the development of a coherent portfolio of bankable projects. The mapping also reveals that local intermediaries (regional and local banks, national development funds, etc.) play a significant role in financing urban adaptation to climate change. Several key factor of success for the cities' access to these sources of funding are also identified, among which liaising with international development stakeholders (such as multilateral and bilateral donors) at the local level, and the identification of various co-benefits and synergies between the economic, environmental and climate impacts. (authors)

  14. Project finance of hydroelectric power plants in Brazil; 'Project finance' de usinas hidroeletricas no Brasil

    Energy Technology Data Exchange (ETDEWEB)

    Ribeiro Filho, Valfredo de Assis; Ramos, Maria Olivia de Souza [Universidade Salvador (UNIFACS), BA (Brazil)

    2008-07-01

    The aim of this paper is to discuss the modality of project finance of financing of enterprises, which is the main modality of structuring of hydroelectric projects in Brazil. In the discussion will be highlighted the importance of contracts EPC (Engineering, Search and Construction) in the structuring of project finances. This financing model has particular characteristics related to risk sharing and financial flexibility that enable the financing of projects with long-term capital, however, due to participation of various actors and the nature of the structure of project finance, the negotiation and drafting of contracts are always very complex.

  15. 48 CFR 32.104 - Providing contract financing.

    Science.gov (United States)

    2010-10-01

    ... financing. 32.104 Section 32.104 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 32.104 Providing contract financing. (a) Prudent contract financing can be a useful working tool in Government...

  16. 48 CFR 432.113 - Customary contract financing.

    Science.gov (United States)

    2010-10-01

    ... financing. 432.113 Section 432.113 Federal Acquisition Regulations System DEPARTMENT OF AGRICULTURE GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 432.113 Customary contract financing. The contracting officer may determine the necessity for customary contract financing. The...

  17. Financing Asset Sales and Business Cycles

    OpenAIRE

    Arnold, Marc; Hackbarth, Dirk; Puhan, Tatjana-Xenia

    2013-01-01

    This paper analyzes the decision of firms to sell assets to fund investments (financing asset sales). For a sample of U.S. manufacturing firms during the 1971-2010 period, we document new stylized facts about financing asset sales that cannot be explained by traditional motives for selling assets, such as financial distress or financing constraints. Using a structural model of financing, investment, and macroeconomic risk, we show that financing asset sales attenuate the debt overhang problem...

  18. New options to integrate care and financing for persons dually eligible for Medicare and Medicaid.

    Science.gov (United States)

    Hayes, Katherine Jett; Thorpe, Jane Hyatt

    2012-01-01

    This paper reviews barriers to clinical and financial integration in services for dual eligibles prior to passage of the ACA, identifies models used by states to integrate care through contract and waiver authorities available to CMS prior to passage of the ACA, describes two new demonstrations proposed by CMS through the Medicare-Medicaid Coordination Office and Innovation Center, and discusses several new models available for consideration by federal and state policymakers. These options draw on experience from existing programs and waivers to provide suggested changes to existing programs, as well as a permanent state plan option for a fully integrated, capitated care model. This model could be made available to states prior to the completion of the demonstration process begun by the Medicare-Medicaid Coordination Office and Innovation Center.

  19. FINANCING SME FUTURE DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    Viorica CERBUSCA

    2015-04-01

    Full Text Available The paper highlights the problems faced by the SMEs in accessing adequate financing as one of the most significant barriers of the sector. Financial access is critical for SMEs’ growth and development. At the same time, the author emphasize that there is no unique way of financing SMEs. The need depends on the stage of maturity and size of the enterprise. In order to facilitate the SME access to finance it is necessary to adapt the best international practices and to adapt them at the local condition. Article aims to present microfinancing as a tool that could improve the SME access to finance, thus contributing to the economic development of the country by creating new jobs, new products and services

  20. 7 CFR 1735.17 - Facilities financed.

    Science.gov (United States)

    2010-01-01

    ... Basic Policies § 1735.17 Facilities financed. (a) RUS makes hardship and guaranteed loans to finance the... section. (b) RUS makes concurrent RUS cost-of-money and RTB loans to finance the improvement, expansion... type of loan to finance the following items: (1) Station apparatus (including PBX and key systems) not...

  1. 12 CFR 987.2 - Law governing rights and obligations of Banks, Finance Board, Office of Finance, United States...

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Law governing rights and obligations of Banks, Finance Board, Office of Finance, United States and Federal Reserve Banks; rights of any Person against Banks, Finance Board, Office of Finance, United States and Federal Reserve Banks. 987.2 Section 987.2 Banks and Banking FEDERAL HOUSING FINANCE...

  2. Financing - general considerations

    International Nuclear Information System (INIS)

    1977-01-01

    Various aspects of the problems of financing a multinational regional fuel cycle centre (RFCC) are briefly discussed. Some of the points covered are: financing by participants; floating long-term loans on capital markets outside the countries of the participants; and export credits for the purchase of equipment manufactured outside the countries of the participants

  3. 48 CFR 432.114 - Unusual contract financing.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Unusual contract financing... CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 432.114 Unusual contract financing. The HCA is authorized to approve unusual contract financing. The signed determination and finding...

  4. 48 CFR 1332.114 - Unusual contract financing.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Unusual contract financing... CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 1332.114 Unusual contract financing. The designee authorized to approve unusual contract financing arrangements is set forth in CAM...

  5. 7 CFR 1735.75 - Interim financing.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Interim financing. 1735.75 Section 1735.75... Involving Loan Funds § 1735.75 Interim financing. (a) A borrower may submit a written request for RUS approval of interim financing if it is necessary to close an acquisition before the loan to finance the...

  6. Higher education and spatial (im)mobility: nontraditional students and living at home

    OpenAIRE

    Hazel Christie

    2007-01-01

    I investigate the mobility decisions of students going into higher education in the UK, and look particularly at the circumstances under which students in one higher education market chose to live at home and their experiences of attending a local university. As more young people from nontraditional backgrounds are encouraged to participate in higher education, and as the financial costs of attending are increasingly borne by students and their families, more students are choosing to stay at ...

  7. Practical recommendations for the implementation of health technologies to enhance physical fitness of students in extracurricular classes during non-traditional gymnastics

    Directory of Open Access Journals (Sweden)

    E.V. Fomenko

    2014-07-01

    Full Text Available Purpose : to develop practical recommendations for extracurricular classes nontraditional kinds of gymnastics to improve the organization of physical education teachers in schools. Material : in the experiment involved 358 students. Analyzed the available literature data. Results : a comparative analysis of physical fitness of students and practical recommendations for the non-traditional occupations gymnastics. Been a significant interest in physical education classes. Found that the main ways of improving physical education students may be the formation of the need for strengthening health facilities fitness aerobics, shaping, pilates. Conclusions : highlights the need to structure the problems they need and develop appropriate solutions.

  8. 13 CFR 120.476 - Prohibited financing.

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Prohibited financing. 120.476... Business Lending Companies (sblc) § 120.476 Prohibited financing. An SBLC may not make a loan to a small business that has received financing (or a commitment for financing) from an SBIC that is an Associate of...

  9. SABER-School Finance : Data Collection Instrument

    OpenAIRE

    World Bank

    2015-01-01

    The aim of the SABER-school finance initiative is to collect, analyze and disseminate comparable data about education finance systems across countries. SABER-school finance assesses education finance systems along six policy goals: (i) ensuring basic conditions for learning; (ii) monitoring learning conditions and outcomes; (iii) overseeing service delivery; (iv) budgeting with adequate an...

  10. Study on Risk Management in Financing and Operational of Grameen Bank Financing Concept in MBK Finance

    Directory of Open Access Journals (Sweden)

    Bobby Yulandika Putra

    2014-03-01

    Full Text Available Objective – Poverty is one of the most fundamental issues that still surround the life of 29.89 million people of Indonesia (National Statistical Bureau data from January 2, 2012. During this time, the pattern of poverty alleviation programs undertaken by the government is a pattern of generosity. This pattern can directly exacerbate the poor morals and behavior. Ideally, poverty alleviation efforts are made by concrete steps, which empower poor `communities themselves.In line with the theme of this research, one of the financial institutions (non-Banks who cares and has the spirit to empower people to overcome poverty is Mitra Bisnis Keluarga (MBK. This study aimed to assess the financial risks and operational risks of implementation of Grameen Bank financing concept in MBK.Methods - The method used in this research is literature review and qualitative descriptive study using actual MBK data.Results - Results from this research showed that products with the concept of Grameen Bank financing is relatively safe in the terms of the financing risk, but requires more attention on operational risk and which can be implemented for large-scale poverty alleviation program.Conclusion - The data showed that the risk of financing given to the poor (without collateral is minimal and MBK actual data shows that the Operational self-sufficiency is relatively high at> 90% Keywords : MBK, Grameen Bank, Poverty

  11. Independent power project finance rating criteria

    International Nuclear Information System (INIS)

    Goldsmith, D.; Chew W.; Moulton, C.

    1992-01-01

    Continuing growth of project financing for non-utility generators in the US and abroad has led to growing focus on their credit strength. In general, the financings remain relatively risky and would likely be rated below investment grade, because of various factors: loose power purchase arrangements, poor match between power pricing and fuel costs, aggressive leverage, troubled operating performance. But S and P believes some projects have the credit strength to support investment grade ratings. As traditional financing markets for these projects --- bank lending and private placements with highly specialized institutional investors --- have contracted, project sponsors and developers are considering broader markets. These include institutional investors without specialized focus on power project finance. In these markets, distinctions among projects may lead to greater liquidity and efficiency in developing the pricing and terms under which projects can be financed. This paper reports that ratings are most appropriate for projects seeking permanent financing as they enter commercial operations. They also may be useful for projects which have been operating for some time and for some very strong projects which are raising construction financing. To guide both project developers and investors in project financing, S and P has developed the following approach for rating these types of financings

  12. 24 CFR 884.114 - Financing.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Financing. 884.114 Section 884.114... HOUSING PROJECTS Applicability, Scope and Basic Policies § 884.114 Financing. (a) Types. Eligible projects... contract as security for financing. (1) An Owner may pledge, or offer as security for any loan or...

  13. Financing maneuvers. Two opportunities to boost a hospital's working capital.

    Science.gov (United States)

    Ferconio, S; Lane, M R

    1991-10-01

    Two receivables financing approaches, factoring and asset-backed securitization, offer an initial cash flow boost and a predictable source for continual cash flow. In a typical receivables factoring program, a healthcare organization receives advance funding from its receivables and reduces collection and follow-up efforts required of its staff. In exchange, the organization: Sells receivables at a discount between 5 percent and 10 percent off face value; and Pays a factoring fee of up to 20 percent of sold receivables. In a typical asset-backed securitization: Proceeds generated from the sale of A1-rated commercial paper are used to purchase receivables from a hospital; Accounts receivable eligible for sale are advance-funded at a level between 80 and 90 percent, with the unfunded portion remaining an asset of the hospital; The hospital is responsible for collection and follow-up activities; and An asset manager maintains cash collections to retire commercial paper notes and pay administrative costs. A healthcare organization interested in receivables financing should review each option's structure and benefits to assess advance funding provided, costs, a seller's level of control, and program eligibility requirements.

  14. Enhancing Critical Thinking Skills and Writing Skills through the Variation in Non-Traditional Writing Task

    Science.gov (United States)

    Sinaga, Parlindungan; Feranie, Shelly

    2017-01-01

    The research aims to identify the impacts of embedding non-traditional writing tasks within the course of modern physics conducted to the students of Physics Education and Physics Study Programs. It employed a quasi-experimental method with the pretest-posttest control group design. The used instruments were tests on conceptual mastery, tests on…

  15. Implied and Local Volatility Surfaces for South African Index and Foreign Exchange Options

    Directory of Open Access Journals (Sweden)

    Antonie Kotzé

    2015-01-01

    Full Text Available Certain exotic options cannot be valued using closed-form solutions or even by numerical methods assuming constant volatility. Many exotics are priced in a local volatility framework. Pricing under local volatility has become a field of extensive research in finance, and various models are proposed in order to overcome the shortcomings of the Black-Scholes model that assumes a constant volatility. The Johannesburg Stock Exchange (JSE lists exotic options on its Can-Do platform. Most exotic options listed on the JSE’s derivative exchanges are valued by local volatility models. These models needs a local volatility surface. Dupire derived a mapping from implied volatilities to local volatilities. The JSE uses this mapping in generating the relevant local volatility surfaces and further uses Monte Carlo and Finite Difference methods when pricing exotic options. In this document we discuss various practical issues that influence the successful construction of implied and local volatility surfaces such that pricing engines can be implemented successfully. We focus on arbitrage-free conditions and the choice of calibrating functionals. We illustrate our methodologies by studying the implied and local volatility surfaces of South African equity index and foreign exchange options.

  16. Connecting Bourdieu, Winnicott, and Honneth: Understanding the Experiences of Non-Traditional Learners through an Interdisciplinary Lens

    Science.gov (United States)

    West, Linden; Fleming, Ted; Finnegan, Fergal

    2013-01-01

    This paper connects Bourdieu's concepts of habitus, dispositions and capital with a psychosocial analysis of how Winnicott's psychoanalysis and Honneth's recognition theory can be of importance in understanding how and why non-traditional students remain in higher education. Understanding power relations in an interdisciplinary way makes…

  17. Analysis for Heat Transfer in a High Current-Passing Carbon Nanosphere Using Nontraditional Thermal Transport Model.

    Science.gov (United States)

    Hol C Y; Chen, B C; Tsai, Y H; Ma, C; Wen, M Y

    2015-11-01

    This paper investigates the thermal transport in hollow microscale and nanoscale spheres subject to electrical heat source using nontraditional thermal transport model. Working as supercapacitor electrodes, carbon hollow micrometer- and nanometer-sized spheres needs excellent heat transfer characteristics to maintain high specific capacitance, long cycle life, and high power density. In the nanoscale regime, the prediction of heat transfer from the traditional heat conduction equation based on Fourier's law deviates from the measured data. Consequently, the electrical heat source-induced heat transfer characteristics in hollow micrometer- and nanometer-sized spheres are studied using nontraditional thermal transport model. The effects of parameters on heat transfer in the hollow micrometer- and nanometer-sized spheres are discussed in this study. The results reveal that the heat transferred into the spherical interior, temperature and heat flux in the hollow sphere decrease with the increasing Knudsen number when the radius of sphere is comparable to the mean free path of heat carriers.

  18. Financing investment in environmentally sound technologies: Foreign direct investment versus foreign debt finance

    International Nuclear Information System (INIS)

    Anyangah, Joshua Okeyo

    2010-01-01

    This paper develops a screening model to examine the relationship between alternative sources of private capital and investment in environmentally sound technologies (ESTs). In the model, a polluter (agent) must secure investment funds from the international financial markets in order to upgrade its production and abatement technology. The requisite capital can be obtained via either market loans (debt finance) or foreign direct investment (FDI). Under debt finance, the foreign financier supplies only capital and the relationship between the two parties is more 'arms-length'. By contrast, under FDI, the investor delivers both capital and managerial skills. We use the model to derive the implications of debt finance for optimal investment decisions and compare them to those obtained under FDI. Investment incentives are more pronounced under debt finance. (author)

  19. Municipal Bonds. A Viable Funding Option For Oradea Local Public Administration (Romania

    Directory of Open Access Journals (Sweden)

    Liliana Bunescu

    2010-10-01

    Full Text Available In a market economy government resources are often insufficient to cover all the public budget needs. Public capital collecting process presents a particular interest considering the need of getting them with lower costs. The options for collecting public resources are characterized by diversity and complexity. One of them is based on municipal bonds funds. This paper explores the potential of public bonds issued at a local level in raising capital for infrastructure investments in Romanian public administration. This paper is not meant to be an empirical study at national level because sub-sovereign bonds market in Romania is not very developed. This paper is limited to a case study of public financing methods for a Romanian local public administration. Local authorities from Oradea have no other possibility without one of borrowing to achieve the objectives proposed. Thus, it resorted to a set of internal and external loans. Our study contents a comparative cost analysis of public financing by loans. The analysis lead to the result that the cheapest source of financing is the loan offered by the European Investment Bank, followed by municipal bonds issuing.

  20. Compendium on Financing of Higher Education: Final Report of the Financing the Students' Future Project

    Science.gov (United States)

    Payne, Bethan; Charonis, George-Konstantinos; Haaristo, Hanna-Stella; Maurer, Moritz; Kaiser, Florian; Siegrist, Rahel; McVitty, Debbie; Gruber, Angelika; Heerens, Nik; Xhomaqi, Brikena; Nötzl, Tina; Semjonov, Meeli; Primožic, Rok

    2013-01-01

    Higher education plays a vital role in society and the quality, accessibility, and form of higher education is highly dependent on financing. Financing of higher education is conceived to be of central importance for the future creation and dissemination of knowledge and research. Therefore, the financing of higher education is a topic that has…

  1. Capital financing in prospective payment.

    Science.gov (United States)

    Oszustowicz, R J; Dreachslin, J L

    1984-03-01

    In the era of prospective payment, arranging financing for hospital capital projects is expected to become even more complicated than under cost-based reimbursement systems. This article outlines the information needed for a bond issue in the prospective payment environment, defines the roles and duties of several external persons and organizations involved with planning a major capital financing, and provides an overview of the entire process. This article assumes for illustrative purposes that a tax-exempt bond issue is going to be used to finance a facility expansion. This method was chosen since over 70% of all major capital financing for hospitals use the tax-exempt bond as the principal vehicle for attracting the necessary debt to finance a major construction project. The tax-exempt bond issue also requires the most detail in documentation and legal provisions.

  2. Financing power projects in emerging markets

    International Nuclear Information System (INIS)

    Matsumoto, G.T.

    1996-01-01

    Financing for power generation projects in the developing countries of the world has been provided by the United States Export-Import Bank. The loans provided by its new Project Finance Division, totalling $8.3 billion are described. The future of project financing for the power generation industry should, it is argued, rest not with government financing agencies, but with private sector financial markets. (UK)

  3. Essays in Household Finance

    DEFF Research Database (Denmark)

    Hanspal, Tobin

    This Ph.D. thesis, entitled Essays in Household Finance, analyzes the determinants and implications of investment biases, personal experiences in financial markets, and financing disruptions on households, individual investors, and entrepreneurs and small business owners. The first essay...... on risk taking is the potential bias resulting from inertia and inattention, which has been shown to be endemic in household finance. If individuals are inert or inattentive, it is difficult to establish whether changes in risk taking are caused by personal experiences or whether the change in risk taking...

  4. Specialized financing techniques

    International Nuclear Information System (INIS)

    Shepherd, J.

    1992-01-01

    Specific financing techniques applicable to wind energy projects in Canada are discussed. A limited partnership is the classic Canadian approach to tax-advantaged financing. For a typical wind project, the limited partners would get an internal rate of return of around 8% over 20 years as well as income tax deductions on Class 34 investments. This rate can be improved if the investors borrow some of the money; they get tax-free cash flow while having deductible loan interest, raising their rate of return after taxes to ca 9-10%. Special situation investors can get to take all of the Class 34 deduction right away, raising their return up to the 12% range. These investors include principal business corporations (such as utilities or oil companies), or companies who have sold their business. A second type of financing structure is related to inflation-indexed debt. The loan is structured like a mortgage, with the annual payments indexed to inflation but nevertheless low enough to provide an early positive cash flow from the project. Other possible financing structures are the immigrant investor fund and the provincial incentive corporations

  5. Is health care financing in Uganda equitable?

    Science.gov (United States)

    Zikusooka, C M; Kyomuhang, R; Orem, J N; Tumwine, M

    2009-10-01

    Health care financing provides the resources and economic incentives for operating health systems and is a key determinant of health system performance. Equitable financing is based on: financial protection, progressive financing and cross-subsidies. This paper describes Uganda's health care financing landscape and documents the key equity issues associated with the current financing mechanisms. We extensively reviewed government documents and relevant literature and conducted key informant interviews, with the aim of assessing whether Uganda's health care financing mechanisms exhibited the key principles of fair financing. Uganda's health sector remains significantly under-funded, mainly relying on private sources of financing, especially out-of-pocket spending. At 9.6 % of total government expenditure, public spending on health is far below the Abuja target of 15% that GoU committed to. Prepayments form a small proportion of funding for Uganda's health sector. There is limited cross-subsidisation and high fragmentation within and between health financing mechanisms, mainly due to high reliance on out-of-pocket payments and limited prepayment mechanisms. Without compulsory health insurance and low coverage of private health insurance, Uganda has limited pooling of resources, and hence minimal cross-subsidisation. Although tax revenue is equitable, the remaining financing mechanisms for Uganda are inequitable due to their regressive nature, their lack of financial protection and limited cross-subsidisation. Overall, Uganda's current health financing is inequitable and fragmented. The government should take explicit action to promote equitable health care financing by establishing pre-payment schemes, enhancing cross-subsidisation mechanisms and through appropriate integration of financing mechanisms.

  6. Non-traditional stable isotope behaviors in immiscible silica-melts in a mafic magma chamber.

    Science.gov (United States)

    Zhu, Dan; Bao, Huiming; Liu, Yun

    2015-12-01

    Non-traditional stable isotopes have increasingly been applied to studies of igneous processes including planetary differentiation. Equilibrium isotope fractionation of these elements in silicates is expected to be negligible at magmatic temperatures (δ(57)Fe difference often less than 0.2 per mil). However, an increasing number of data has revealed a puzzling observation, e.g., the δ(57)Fe for silicic magmas ranges from 0‰ up to 0.6‰, with the most positive δ(57)Fe almost exclusively found in A-type granitoids. Several interpretations have been proposed by different research groups, but these have so far failed to explain some aspects of the observations. Here we propose a dynamic, diffusion-induced isotope fractionation model that assumes Si-melts are growing and ascending immiscibly in a Fe-rich bulk magma chamber. Our model offers predictions on the behavior of non-traditional stable isotope such as Fe, Mg, Si, and Li that are consistent with observations from many A-type granitoids, especially those associated with layered intrusions. Diffusion-induced isotope fractionation may be more commonly preserved in magmatic rocks than was originally predicted.

  7. Mainstreaming Disaster Risk Management for Finance: Application of Real Options Method for Disaster Risk Sensitive Project

    Directory of Open Access Journals (Sweden)

    KUSDHIANTO SETIAWAN

    Full Text Available This paper discusses the application of real options analysis for a project that is in the process of construction and was affected by a natural disaster. The use of the analytical method has become a way of thinking in making decisions that should be taught to business school students. The case in this paper is based on an MBA thesis at the University of Gadjah Mada that was intended as a showcase for application of real options to address real business problems. It shows one of the strategies in mainstreaming disaster risk management in the business school that also answers the needs of businesses in the disaster-prone country.

  8. Corporate Finance: its organization and epistemological basis

    Directory of Open Access Journals (Sweden)

    Luiz Henrique Herling

    2014-08-01

    Full Text Available This study aims to show how they are organized studies in financial management and what is the paradigm that support the theories presented until today, contextualizing how financial management is organized within the science of Directors in historical and evolutionary terms . Based on the decisions of the financial manager of investment , financing and operations , the study seeks to show that the philosophical basis that supports the theories developed . Yet for better understanding separates financial management in personal finance , financial markets and corporate finance , the latter being the main focus of the study . In the literature we can divide and stratify studies in corporate finance for a better understanding . By analyzing under an evolutionary approach notes a growing chains in other studies in finance , such as public finance, behavioral finance and here called green finance.

  9. Financing the growth of SMEs in Africa: What are the contraints to SME financing within ECOWAS?

    Directory of Open Access Journals (Sweden)

    Peter Quartey

    2017-06-01

    Full Text Available This study attempts to provide some understanding about SMEs’ access to finance within the West African sub-region with particular interest in establishing whether there are similarities and/or differences in the determinants of SMEs access to finance across countries in SSA. For robustness sake, we developed both subjective and objective measures of access to finance. Using data from World Bank’s Enterprise Survey data set, we examine the determinants of access to finance both at the sub-regional level and at the country-level. We found that, generally, at the sub-regional level, access to finance is strongly determined by factors such as firm size, ownership, strength of legal rights, and depth of credit information, firm’s export orientation and the experience of the top manager. However, we found important differences in the correlates of firms’ access to finance at the country level. The findings of this study therefore have important implications for policy.

  10. To finance the transition

    International Nuclear Information System (INIS)

    Regnier, Yannick; Maciel, Guillaume; Zeroual, Bouchra; Leca, Christel; Guillou, Maelle; Mossalgue, Marc; Raguet, Alex; Sabot, Guillaume; Coton, Patrice; Olesen, Gunnar Boye; Friggens, Sam; Pouyet, Regis; Blanc, Nicolas; Laurent, Pierre; Ruedinger, Andreas

    2013-01-01

    A set of brief articles illustrates the emergence of innovating and operational financing tools aimed at supporting energy transition in France and in Europe. As far as France is concerned, different examples are evoked: raising local savings, crowd-funding for renewable energies, citizen investment, cooperation between industries, communities and citizens, a semi-public company with citizen participation, the case of the Nancy urban community, a joint experience by a local public company and an investment fund. As far as Europe is concerned, the following topics or examples are evoked: local policies as lever for European financing, the Danish example of citizen-based financing, crowd-funding in the UK, the European emergence of cooperatives. As far as banks and institutions are concerned, the following topics are addressed: tools implemented by the Caisse des Depots for energy transition, the roles of banks and of public institutions in the financing of energy transition

  11. Threshold concepts in finance: student perspectives

    Science.gov (United States)

    Hoadley, Susan; Kyng, Tim; Tickle, Leonie; Wood, Leigh N.

    2015-10-01

    Finance threshold concepts are the essential conceptual knowledge that underpin well-developed financial capabilities and are central to the mastery of finance. In this paper we investigate threshold concepts in finance from the point of view of students, by establishing the extent to which students are aware of threshold concepts identified by finance academics. In addition, we investigate the potential of a framework of different types of knowledge to differentiate the delivery of the finance curriculum and the role of modelling in finance. Our purpose is to identify ways to improve curriculum design and delivery, leading to better student outcomes. Whilst we find that there is significant overlap between what students identify as important in finance and the threshold concepts identified by academics, much of this overlap is expressed by indirect reference to the concepts. Further, whilst different types of knowledge are apparent in the student data, there is evidence that students do not necessarily distinguish conceptual from other types of knowledge. As well as investigating the finance curriculum, the research demonstrates the use of threshold concepts to compare and contrast student and academic perceptions of a discipline and, as such, is of interest to researchers in education and other disciplines.

  12. Risk Analysis of Telecom Enterprise Financing

    Institute of Scientific and Technical Information of China (English)

    YU Hua; SHU Hua-ying

    2005-01-01

    The main research objects in this paper are the causes searching and risk estimating method for telecom enterprises' financial risks. The multi-mode financing for telecom enterprises makes it flexible to induce the capital and obtain the profit by corresponding projects. But there are also potential risks going with these financing modes. After making analysis of categories and causes of telecom enterprises' financing risk, a method by Analytic Hierarchy Process (AHP) is put forward to estimating the financing risk. And the author makes her suggestion and opinion by example analysis, in order to provide some ideas and basis for telecom enterprise's financing decision-making.

  13. Analysis of Project Finance | Energy Analysis | NREL

    Science.gov (United States)

    Analysis of Project Finance Analysis of Project Finance NREL analysis helps potential renewable energy developers and investors gain insights into the complex world of project finance. Renewable energy project finance is complex, requiring knowledge of federal tax credits, state-level incentives, renewable

  14. Market and behavioral barriers to energy efficiency: A preliminary evaluation of the case for tariff financing in California

    Energy Technology Data Exchange (ETDEWEB)

    Fujita, K. Sydny

    2011-06-23

    Consumers regularly forgo purchases of high efficiency appliances that appear to be cost effective at a reasonable rate of return. While some argue that this is a true revelation of preferences for appliance features, this 'efficiency gap' can be largely explained by a combination of market and behavioral failures that reduce consumers ability to evaluate the relative value of appliances and skew preferences toward initial cost savings, undervaluing future reductions in operating costs. These failures and barriers include externalities of energy use, imperfect competition between manufacturers, asymmetric information, bounded rationality, split incentives, and transaction costs (Golove 1996). Recognizing the social benefit of energy conservation, several major methods are used by policymakers to ensure that efficient appliances are purchased: minimum efficiency standards, Energy Star labeling, and rebates and tax credits. There is no single market for energy services; there are hundreds of uses, thousands of intermediaries, and millions of users, and likewise, no single appropriate government intervention (Golove 1996). Complementary approaches must be implemented, considering policy and institutional limitations. In this paper, I first lay out the rationale for government intervention by addressing the market and behavioral failures and barriers that arise in the context of residential energy efficiency. I then consider the ways in which some of these failures and barriers are addressed through major federal programs and state and utility level programs that leverage them, as well as identifying barriers that are not addressed by currently implemented programs. Heterogeneity of consumers, lack of financing options, and split incentives of landlords and tenants contribute significantly to the under-adoption of efficient appliances. To quantify the size of the market most affected by these barriers, I estimate the number of appliances, and in particular

  15. Exploring the private finance initiative as a route to finance for renewable energy projects

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2000-07-01

    This report reviews the private financing of public sector Renewable Energy projects through the Private Finance Initiative (PFI), and the relevance of such a technique to the renewables industry generally. (author)

  16. Financing climate change adaptation

    NARCIS (Netherlands)

    Bouwer, L.M.; Aerts, J.C.J.H.

    2006-01-01

    This paper examines the topic of financing adaptation in future climate change policies. A major question is whether adaptation in developing countries should be financed under the 1992 United Nations Framework Convention on Climate Change (UNFCCC), or whether funding should come from other sources.

  17. 48 CFR 632.114 - Unusual contract financing.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Unusual contract financing. 632.114 Section 632.114 Federal Acquisition Regulations System DEPARTMENT OF STATE GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 632.114 Unusual contract financing. The...

  18. 48 CFR 2432.114 - Unusual contract financing.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Unusual contract financing... DEVELOPMENT GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 2432.114 Unusual contract financing. The Senior Procurement Executive is the agency head for the purpose of...

  19. Reactor choice - the merits of Sizewell follow-up and longer-term options

    International Nuclear Information System (INIS)

    Smith, P.

    1994-01-01

    During 1994 Sizewell B will be completed, a contractor will be selected for the Lungmen Project in Taiwan and the Nuclear Review will hopefully clear the way for continuing PWR construction in the UK. Once the Government has sanctioned the next nuclear station, the choice of plant will fall to Nuclear Electric. Consideration of the available options demonstrates clearly that for the short and medium term only Sizewell C, a twin replica of Sizewell B, provides the low-risk option essential to attracting private finance. The UK has built up the design, manufacturing and construction capability necessary to build the Sizewell C design, both in the UK and overseas. However, there is only a limited window of opportunity to exploit these capabilities since they will decay unless sustained by continuing orders. (author)

  20. Statistics and finance an introduction

    CERN Document Server

    Ruppert, David

    2004-01-01

    This textbook emphasizes the applications of statistics and probability to finance. Students are assumed to have had a prior course in statistics, but no background in finance or economics. The basics of probability and statistics are reviewed and more advanced topics in statistics, such as regression, ARMA and GARCH models, the bootstrap, and nonparametric regression using splines, are introduced as needed. The book covers the classical methods of finance such as portfolio theory, CAPM, and the Black-Scholes formula, and it introduces the somewhat newer area of behavioral finance. Applications and use of MATLAB and SAS software are stressed. The book will serve as a text in courses aimed at advanced undergraduates and masters students in statistics, engineering, and applied mathematics as well as quantitatively oriented MBA students. Those in the finance industry wishing to know more statistics could also use it for self-study. David Ruppert is the Andrew Schultz, Jr. Professor of Engineering, School of Oper...

  1. Development of project financing in Russia

    Directory of Open Access Journals (Sweden)

    Nikonova Irina Aleksandrovna

    2012-07-01

    Full Text Available The implementation of effective investment projects is essential to the modernization of the Russian economy and its transition to a high-tech way of development. The most complex and risky form of financing projects is project financing (Project Finance.

  2. 48 CFR 32.007 - Contract financing payments.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Contract financing... GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING 32.007 Contract financing payments. (a)(1) Unless... section, the due date for making contract financing payments by the designated payment office is the 30th...

  3. 48 CFR 432.007 - Contract financing payments.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Contract financing... CONTRACTING REQUIREMENTS CONTRACT FINANCING 432.007 Contract financing payments. The HCA may prescribe, on a case-by-case basis, a shorter period for financing payments. [61 FR 53646, Oct. 15, 1996. Redesignated...

  4. New directions in electric power financing

    International Nuclear Information System (INIS)

    Jechoutek, K.G.; Lamech, Ranjit

    1995-01-01

    This paper argues that it is necessary to raise the eyes from the current focus on independent power projects, buttressed by guarantees, to the longer horizon of electric power financing in open markets. Transitional strategies will need to move beyond the commonly seen IPP activity that occurs without fundamental sector reform, and demand-side incentives that introduce further market distortions. These efforts will have to focus on macroeconomic stabilization, removal of price distortions, as well as sector and corporate reform. Mobilization of domestic capital will be essential for sustainable sector financing. Although guarantees to encourage power sector investment can be designed to selectively cover risks, their elimination through fundamental sector reform should be the ultimate goal. Over the longer-term traditional corporate finance should become a more common financing strategy than project finance. Innovations in performance risk management and consumer credit will be crucial to the financing of energy efficiency. (author)

  5. Modeling and assessing international climate financing

    Science.gov (United States)

    Wu, Jing; Tang, Lichun; Mohamed, Rayman; Zhu, Qianting; Wang, Zheng

    2016-06-01

    Climate financing is a key issue in current negotiations on climate protection. This study establishes a climate financing model based on a mechanism in which donor countries set up funds for climate financing and recipient countries use the funds exclusively for carbon emission reduction. The burden-sharing principles are based on GDP, historical emissions, and consumptionbased emissions. Using this model, we develop and analyze a series of scenario simulations, including a financing program negotiated at the Cancun Climate Change Conference (2010) and several subsequent programs. Results show that sustained climate financing can help to combat global climate change. However, the Cancun Agreements are projected to result in a reduction of only 0.01°C in global warming by 2100 compared to the scenario without climate financing. Longer-term climate financing programs should be established to achieve more significant benefits. Our model and simulations also show that climate financing has economic benefits for developing countries. Developed countries will suffer a slight GDP loss in the early stages of climate financing, but the longterm economic growth and the eventual benefits of climate mitigation will compensate for this slight loss. Different burden-sharing principles have very similar effects on global temperature change and economic growth of recipient countries, but they do result in differences in GDP changes for Japan and the FSU. The GDP-based principle results in a larger share of financial burden for Japan, while the historical emissions-based principle results in a larger share of financial burden for the FSU. A larger burden share leads to a greater GDP loss.

  6. 48 CFR 2832.114 - Unusual contract financing.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Unusual contract financing... Contracting Requirements CONTRACT FINANCING Non-Commercial Item Purchase Financing 2832.114 Unusual contract financing. The HCA, or designee at a level not lower than the BPC, is the official authorized to approve...

  7. Third party financing of renewable energy sources

    International Nuclear Information System (INIS)

    1994-01-01

    The Institut of Energy Saving and Diversification (IDAE) hosted the third party on financing Renewable Energy Sources in Spain. The main aspects were : 1) Experiences in renewable energy. 2) Financing of small hydro-power projects. 3) Third party financing of biomass projects. 4) Financing of wind energy projects

  8. 78 FR 33755 - Project Financing Loans

    Science.gov (United States)

    2013-06-05

    ... CFR Part 1710 [0572-AC21] Project Financing Loans AGENCY: Rural Utilities Service, USDA. ACTION... also considering regulations to clarify the agency's procedures for single asset/project financing... parameters necessary to more effectively and prudently use project financing in the RUS electric loan program...

  9. PROJECT FINANCE THE ROLE OF EXPORT CREDIT AGENCIES IN PROJECT FINANCE

    OpenAIRE

    Fatma Ceren YALCIN

    2013-01-01

    The functions of Export Credit Agencies have an important place in the economies of countries in terms of contribution to economic growth. The developed countries follow various policies and constitute institutions for the development and support of export and export financing. Every country develops its own export-financing mechanism, according to its own economic situation within the existing legal framework. However, the privatization and economic deregulation actions in the approaches to ...

  10. Challenges to micro-financing PLWHA clients in Rwanda : a study based on vision finance, a world vision mico-finance institution, Kigali Branch

    NARCIS (Netherlands)

    Muyinda, B.

    2008-01-01

    The study was conducted on Vision Finance a microfinance institution of World Vision in Rwanda. The major research question focussed on determining the factors that have contributed default on loans disbursed to PLWHA clients by Vision Finance. Results show that chronic illness and death disrupt

  11. The influence of out-of-institution environments on the university schooling project of non-traditional students in Uganda

    NARCIS (Netherlands)

    Tumuheki, Peace Buhwamatsiko; Zeelen, Jacobus; Openjuru, George L.

    2018-01-01

    Participation and integration of non-traditional students (NTS) in university education is influenced by factors within the institution and those external to the institution, including participants’ self-perceptions and dispositions. The objective of this qualitative study is to draw from the

  12. Financing landfill gas projects

    International Nuclear Information System (INIS)

    Bull, R.

    1992-01-01

    The problems of financing landfill gas projects in the UK in the last few years are discussed. The approach of the author in setting up a company to finance such projects in the power generation field and a separate company to design and supply turnkey packages is reported. (UK)

  13. Comparison of a traditional and non-traditional residential care facility for persons living with dementia and the impact of the environment on occupational engagement.

    Science.gov (United States)

    Richards, Kieva; D'Cruz, Rachel; Harman, Suzanne; Stagnitti, Karen

    2015-12-01

    Dementia residential facilities can be described as traditional or non-traditional facilities. Non-traditional facilities aim to utilise principles of environmental design to create a milieu that supports persons experiencing cognitive decline. This study aimed to compare these two environments in rural Australia, and their influence on residents' occupational engagement. The Residential Environment Impact Survey (REIS) was used and consists of: a walk-through of the facility; activity observation; interviews with residents and employees. Thirteen residents were observed and four employees interviewed. Resident interviews did not occur given the population diagnosis of moderate to severe dementia. Descriptive data from the walk-through and activity observation were analysed for potential opportunities of occupational engagement. Interviews were thematically analysed to discern perception of occupational engagement of residents within their facility. Both facilities provided opportunities for occupational engagement. However, the non-traditional facility provided additional opportunities through employee interactions and features of the physical environment. Interviews revealed six themes: Comfortable environment; roles and responsibilities; getting to know the resident; more stimulation can elicit increased engagement; the home-like experience and environmental layout. These themes coupled with the features of the environment provided insight into the complexity of occupational engagement within this population. This study emphasises the influence of the physical and social environment on occupational engagement opportunities. A non-traditional dementia facility maximises these opportunities and can support development of best-practice guidelines within this population. © 2015 Occupational Therapy Australia.

  14. Novel software system development for finance

    OpenAIRE

    Maad, Soha

    2002-01-01

    This paper addresses the need for novel software system development (SSD) practices in finance. It proposes Empirical Modelling as a novel approach for SSD in finance. This approach aims at finding a suitable framework for studying both the traditional and the emerging computing culture to SSD in finance. First, the paper studies the change in the financial industry and identifies key issues of the application of computer-based technology in finance. These key issues are framed in a wider age...

  15. 7 CFR 1738.19 - Facilities financed.

    Science.gov (United States)

    2010-01-01

    ... AGRICULTURE RURAL BROADBAND ACCESS LOANS AND LOAN GUARANTEES Loan Purposes and Basic Policies § 1738.19 Facilities financed. (a) RUS makes broadband loans to finance the construction, improvement, and acquisition... broadband loans to finance broadband facilities leased under the terms of a capital lease as defined in...

  16. Why Finance Should Care about Ecology

    NARCIS (Netherlands)

    Scholtens, Lambertus

    Finance ignores ecosystems, which has resulted in a growing list of environmental and social problems. In this article, the importance of ecology for finance is assessed. We suggest The piece also suggests that the financial intermediation perspective can align finance and ecology for the benefit of

  17. The financing behavior of Dutch firms

    NARCIS (Netherlands)

    Chen, Linda H.; Jiang, George J.

    2001-01-01

    This paper investigates the financing behaviour of Dutch firms by testing whether a firm’s financing decisions are determined by certain factors identified in various theories. Since a firm’s financing decision is reflected in the changes of its leverage, our research focuses on the relationship

  18. 48 CFR 32.105 - Uses of contract financing.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Uses of contract financing... CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 32.105 Uses of contract financing. (a) Contract financing methods covered in this part are intended to be self-liquidating through...

  19. Finance and the nuclear industry

    International Nuclear Information System (INIS)

    Radtke, G.G.

    1983-01-01

    The subject is discussed under the headings: the energy situation today; energy investment and capital requirements (finding the necessary funds); further possibilities; future financing (project financing); summary. (U.K.)

  20. Regional transport sector mitigation options

    Energy Technology Data Exchange (ETDEWEB)

    Zhou, Peter [EECG Consultants, Gaborone (Botswana)

    1998-10-01

    The rationale for conducting climate change mitigation studies in the transport sector is on the premise that: The transport sector is the second largest consumer of fossil fuels in the region; The regional transport sector is an area with high opportunity for infrastructural development under UNFCCC financial mechanism; The regional transport sector is crucial in the SADC region for trade and coupled with the Trade Protocol will play a major role in development hence the need to make it efficient in terms of energy demand and provision of services; The sector offers many mitigation options but with a challenge to evaluate their energy saving and GHG saving potential and yet there is need to quantify possible emission reduction for possible future emission trading. This is also a sector with potential to qualify for financing through Clean Development Mechanism (CDM) recently stipulated in the Kyoto Protocol. (au)

  1. Regional transport sector mitigation options

    International Nuclear Information System (INIS)

    Zhou, Peter

    1998-01-01

    The rationale for conducting climate change mitigation studies in the transport sector is on the premise that: The transport sector is the second largest consumer of fossil fuels in the region; The regional transport sector is an area with high opportunity for infrastructural development under UNFCCC financial mechanism; The regional transport sector is crucial in the SADC region for trade and coupled with the Trade Protocol will play a major role in development hence the need to make it efficient in terms of energy demand and provision of services; The sector offers many mitigation options but with a challenge to evaluate their energy saving and GHG saving potential and yet there is need to quantify possible emission reduction for possible future emission trading. This is also a sector with potential to qualify for financing through Clean Development Mechanism (CDM) recently stipulated in the Kyoto Protocol. (au)

  2. Principals of the Islamic finance:A focus on project finance

    OpenAIRE

    Elasrag, hussein

    2011-01-01

    Islamic finance is one of the fastest growing segments of global financial industry. In some countries, it has become systemically important and, in many others, it is too big to be ignored.Islamic finance is based on shariah, an Arabic term that often is translated to “Islamic law.”Shariah provides guidelines for aspects of Muslim life, including religion, politics, economics,banking, business, and law.The basic sources of Shari’ah are the Qur’an and the Sunna, which are followed by the cons...

  3. Third party financing of renewable energy sources

    International Nuclear Information System (INIS)

    IDAE.

    1994-01-01

    IDAE (Institute of Energy Saving and Diversification) Hosted the Third party on financing renewable energy sources. The meeting was articulated into chapters: 1.- Experiences in the renewable energy field. 2.- Third party financing of small hydro-power projects. 3.- Third party financing of biomass projects. 4.- Third party financing of wind energy projects

  4. 7 CFR 1738.21 - Interim financing.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Interim financing. 1738.21 Section 1738.21... Interim financing. (a) Upon notification by RUS that an applicant's application is considered complete, the applicant may enter into an interim financing agreement with a lender other than RUS or use its...

  5. Why Finance Should Care about Ecology.

    Science.gov (United States)

    Scholtens, Bert

    2017-07-01

    Finance ignores ecosystems, which has resulted in a growing list of environmental and social problems. In this article, the importance of ecology for finance is assessed. We suggest The piece also suggests that the financial intermediation perspective can align finance and ecology for the benefit of society. This requires that financial institutions account for information about the impact of finance on the environment and vice versa, and that they are held accountable by their supervisors in this domain. Copyright © 2017 Elsevier Ltd. All rights reserved.

  6. 12 CFR 613.3030 - Rural home financing.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Rural home financing. 613.3030 Section 613.3030 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM ELIGIBILITY AND SCOPE OF FINANCING Financing Under Titles I and II of the Farm Credit Act § 613.3030 Rural home financing. (a) Definitions. (1...

  7. 12 CFR 907.12 - Finance Board procedures.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Finance Board procedures. 907.12 Section 907.12 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOUSING FINANCE BOARD ORGANIZATION AND OPERATIONS PROCEDURES Case-by-Case Determinations; Review of Disputed Supervisory Determinations § 907.12 Finance Board procedures. (a) Notice of Receipt...

  8. Participatory financing for green growth

    International Nuclear Information System (INIS)

    Laville, Dorine; Phantharangsi, Maryvonne; Monnoyer-Smith, Laurence; Demeulenaere, Laurence; Lequeux, Typhaine; Cuny, Alicia

    2017-01-01

    As for the French Ministry of the Environment, participatory financing can be an innovating and mobilising tool to finance projects related to the energy and ecological transition, and as such a financing is promoted by the law on energy transition for a green growth, this publication presents this type of financing. It evokes its legal framework, its different forms (loan to companies, loan to individuals, gift, capital investment), its safe legal framework (definition of different types of status). It outlines how it can be a lever for energy and ecological transition even if green projects are difficult to quantify. It evokes the future introduction of a label, and the introduction of legal and regulatory measures to develop the renewable energy sector

  9. Health, autonomic financing and transferences

    Directory of Open Access Journals (Sweden)

    David Cantarero Prieto

    2002-01-01

    Full Text Available The present paper has as objective to study the whole relative problem to the autonomous communities and regional heath care expenditure financing in Spain. This article has a dual purpose. First, the financing of the current health care attendance is approached in the Spanish regions passing magazine to its possible variants and we observe that the balance of our system is clearly inclined towards the side of the integration in the general pattern of financing («Fiscal Room» with specific conditions («Mixed System». Secondly, we examine the new situation in the mark of health care and its corresponding financing in the new model approved in 2001, in terms of the effects of tax assignment on autonomous communities.

  10. 13 CFR 107.840 - Maximum term of Financing.

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Maximum term of Financing. 107.840... COMPANIES Financing of Small Businesses by Licensees Structuring Licensee's Financing of An Eligible Small Business: Terms and Conditions of Financing § 107.840 Maximum term of Financing. The maximum term of any...

  11. Understanding your capital options.

    Science.gov (United States)

    Payne, Christopher T

    2012-05-01

    When planning capital expenditures, hospitals and health systems should understand the following financing considerations: Traditional fixed-rate tax-exempt bonds; Variable-rate financing alternatives; Basel III Accord requirements; Direct tax-exempt bank loans; Total return swaps Taxable financings; Interest-rate swaps and collateral requirements

  12. Water Finance Webinars and Forums

    Science.gov (United States)

    The Center hosts a series of water finance forums. These forums bring together communities with drinking water, wastewater, and stormwater project financing needs in an interactive peer-to-peer networking format.

  13. Critical Thinking and the Use of Nontraditional Instructional Methodologies.

    Science.gov (United States)

    Orique, Sabrina B; McCarthy, Mary Ann

    2015-08-01

    The purpose of this study was to examine the relationship between critical thinking and the use of concept mapping (CM) and problem-based learning (PBL) during care plan development. A quasi-experimental study with a pretest-posttest design was conducted using a convenience sample (n = 49) of first-semester undergraduate baccalaureate nursing students. Critical thinking was measured using the Holistic Critical Thinking Scoring Rubric. Data analysis consisted of a repeated measures analysis of variance with post hoc mean comparison tests using the Bonferroni method. Findings indicated that mean critical thinking at phase 4 (CM and PBL) was significantly higher, compared with phase 1 (baseline), phase 2 (PBL), and phase 3 (CM [p < 0.001]). The results support the utilization of nontraditional instructional (CM and PBL) methodologies in undergraduate nursing curricula. Copyright 2015, SLACK Incorporated.

  14. Financing of Renewable Energy Projects

    International Nuclear Information System (INIS)

    Santizo, Rodolfo; Berganza, Jose

    2000-01-01

    The paper describes the role of the Banco Centroamericano de Integracion Economica in financing renewable energy projects in Central America. Also decribes the different financing modes to the goverment and private sectors

  15. Cross-Referencing National Standards in Personal Finance for Business Education with National Standards in Personal Finance Education

    Science.gov (United States)

    Gayton, Jorge

    2005-01-01

    The purpose of this study was to determine the extent to which National Standards in Personal Finance for Business Education correlate with National Standards in Personal Finance Education. A content analysis revealed that the National Standards in Personal Finance for Business Education, established by the National Business Education Association…

  16. Injury survey of a non-traditional 'soft-edged' trampoline designed to lower equipment hazards.

    Science.gov (United States)

    Eager, David B; Scarrott, Carl; Nixon, Jim; Alexander, Keith

    2013-01-01

    In Australia trampolines contribute one quarter of all childhood play equipment injuries. The objective of this study was to gather and evaluate injury data from a non-traditional, 'soft-edged', consumer trampoline, where the design aimed to minimise injuries from the equipment and from falling off. The manufacturer of the non-traditional trampoline provided the University of Technology Sydney with their Australian customer database. The study involved surveys in Queensland and New South Wales, between May 2007 and March 2010. Initially injury data was gathered by a phone interview pilot study, then in the full study, through an email survey. The 3817 respondents were the carers of child users of the 'soft-edge' trampolines. Responses were compared with Australian and US emergency department data. In both countries the proportion of injuries caused by the equipment and falling off was compared with the proportion caused by the jumpers to themselves or each other. The comparisons showed a significantly lower proportion resulted from falling-off or hitting the equipment for this design when compared to traditional trampolines, both in Australia and the US. This research concludes that equipment-induced and falling-off injuries, the more severe injuries on traditional trampolines, can be significantly reduced with appropriate trampoline design.

  17. Threshold Concepts in Finance: Student Perspectives

    Science.gov (United States)

    Hoadley, Susan; Kyng, Tim; Tickle, Leonie; Wood, Leigh N.

    2015-01-01

    Finance threshold concepts are the essential conceptual knowledge that underpin well-developed financial capabilities and are central to the mastery of finance. In this paper we investigate threshold concepts in finance from the point of view of students, by establishing the extent to which students are aware of threshold concepts identified by…

  18. Trophy Hunting, Conservation, and Rural Development in Zimbabwe: Issues, Options, and Implications

    Directory of Open Access Journals (Sweden)

    Victor K. Muposhi

    2016-01-01

    Full Text Available Trophy hunting has potential to support conservation financing and contribute towards rural development. We conducted a systematic review of the Zimbabwean trophy hunting perspective spanning from pre-1890 to 2015, by examining the following: (1 evolution of legal instruments, administration, and governance of trophy hunting, (2 significance of trophy hunting in conservation financing and rural development, and (3 key challenges, emerging issues in trophy hunting industry, and future interventions. Our review shows that (i there has been a constant evolution in the policies related to trophy hunting and conservation in Zimbabwe as driven by local and international needs; (ii trophy hunting providing incentives for wildlife conservation (e.g., law enforcement and habitat protection and rural communities’ development. Emerging issues that may affect trophy hunting include illegal hunting, inadequate monitoring systems, and hunting bans. We conclude that trophy hunting is still relevant in wildlife conservation and rural communities’ development especially in developing economies where conservation financing is inadequate due to fiscal constraints. We recommend the promotion of net conservation benefits for positive conservation efforts and use of wildlife conservation credits for the opportunity costs associated with reducing trophy hunting off-take levels and promoting nonconsumptive wildlife use options.

  19. ALTERNATIVE MODELS OF FINANCING REGIONAL DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    Cristina, GRADEA

    2013-12-01

    Full Text Available Public financing of infrastructure proved under performing at uneconomic prices, and because of political interference in the management of funds, understanding the problem leading to the adoption of private funding variant, an effective way of private funding being the financing of the project. Project financing is a concept that assessed by means of financing a specific technique. In this context, those granting funds usually through loans typically are only interested in cash flows and project profit, which are a source of funds for repayment of loans; they are less interested in the creditworthiness of those employed in the project (organizations, governments, communities and so on. This approach has led to the emergence of new ways of financing projects, new types of projects, such as regional and rural development.

  20. Selected Determinants of Mezzanine Financing in Poland

    Directory of Open Access Journals (Sweden)

    Robert Golej

    2016-01-01

    Full Text Available A very significant form of company activity determining its development and even survival is innovation activity. Raising capital for the implementation of innovation is an important but not the only factor in the introduction of innovation. Characteristics of innovation, and in particular the risk of failure, make for a significant difficulty in obtaining external financing, particularly from third parties, which is an obstacle to their development and implementation. The subject of discussion in the article is the hybrid formula mezzanine type of financing innovative projects implemented both in start-up companies and in already well established companies. The purpose of the article is to discuss the possibilities and to perform an analysis of the practices followed by mezzanine funds in Poland in respect to the innovation activities of Polish companies. Research presented in the article was conducted on the basis of information on investments performed by mezzanine funds in Poland. Of particular importance for the innovativeness of the economy is to have companies from the SME sector, and therefore we also carried out research in this group. Innovations are often initiated in special purpose companies, start-up, etc., that operate in the SME sector. Therefore, the financing of innovation cannot be ignored as a thread of innovation in SMEs. The study involved interviews in several companies in the sector. The study concerned the possibilities of financing innovation involving mezzanine, knowledge of hybrid forms of financing, preparedness for hybrid financing. Studies are not representative, but are rather sounding a view to clarify any further research. Hypothesis: mezzanine financing, utilizing its specific benefits, is increasingly used to finance the gap in the financing of innovation, in particular special purpose companies in the SME sector. So the hypothesis raises two strands of research. The first concerned the financing of innovation

  1. 12 CFR 980.6 - Finance Board consent.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Finance Board consent. 980.6 Section 980.6 Banks and Banking FEDERAL HOUSING FINANCE BOARD NEW FEDERAL HOME LOAN BANK ACTIVITIES NEW BUSINESS ACTIVITIES § 980.6 Finance Board consent. The Finance Board may at any time provide consent for a Bank to undertake a particular new business activity and...

  2. A Comparison of Motivational Factors and Barriers to Physical Activity among Traditional versus Nontraditional College Students

    Science.gov (United States)

    Kulavic, Kimberly; Hultquist, Cherilyn N.; McLester, John R.

    2013-01-01

    Objective: To investigate the motivational factors and the barriers to physical activity (PA) in traditional college students (TS) and nontraditional college students (NTS) and determine if differences exist between these 2 groups. Participants: A total of 746 college students; 628 were TS (19.1 [plus-minus] 1.2 years), and 118 were NTS (31.2…

  3. Financing energy efficiency investments. Third party financing: practical problems and possible solutions

    International Nuclear Information System (INIS)

    Warren, A.

    1992-01-01

    Third Party Financing means the packaging together of both technical aid and the necessary funding for energy cost saving investments by an outside company (outside to the energy user that is), using the energy cost savings themselves to pay for that investment. There are two key factors which differentiate Third Party Financing and conventional approaches to the implementation of energy conservation projects, the first of which is the provision of all the necessary technical services - both initial and detailed energy audits, engineering design and implementation - from one source. The second difference involves viewing the energy cost savings as a ''stream oincome'' which will repay the cost of the investment. This approach has a number of attractions to energy users: the outside company brings both its technical expertise and the necessary up-front capital to fund the energy saving investment. In addition, because the payments to the outside company are contingent, either wholly or in part, upon the level and timing of the energy cost savings the technical and financial risk for the investment is transferred from the energy user to the outside company. However, although simple in concept, third party financing is complex in practice. How does an energy user judge one third party financing proposal against another? If an agreement is made, how are energy savings measured or what happens if there is a dispute between the two parties? These are examples of the practical questions addressed in this paper which must be resolved if third party financing is to be used to assist energy saving. (Author)

  4. The Gateway Paper--financing health in Pakistan and its linkage with health reforms.

    Science.gov (United States)

    Nishtar, Sania

    2006-12-01

    Pakistan currently principally uses three modes of financing health--taxation, out of pocket payments and donor contributions of which the latter is the least significant in terms of size. Less than 3.6% of the employees are covered under the social security scheme and there is a limited social protection mechanism, which collectively serves the health needs of 3.4% of the population. The main issues in health financing include low spending, lack of attention to alternate sources of financing and issues with fund mobilization and utilization. With respect to the first, health reforms proposed as part of the Gateway Paper make a strong case for promoting the reallocation of tax-based revenues and developing sustainable alternatives to low levels of public spending on health. With respect to alternative sources of health financing, the Gateway Paper lays stress on exploring policy options for private health insurance, broadening the base of Employees Social Security, creating a Federal Employees Social Security Programme, developing social health insurance within the framework of a broad-based social protection strategy, which scopes beyond the formally employed sector, establishing a widely inclusive safety net for the poor; mainstreaming philanthropic grants as a major source of health financing; developing a conducive tax configuration; generating greater corporate support for social sector causes within the framework of the concept of Corporate Social Responsibility and developing cost-sharing programmes, albeit with safeguards. The Gateway Paper regards efficient fund utilization a priority and lays stress on striking a balance between minimizing costs, controlling costs and using resources more efficiently and equitably--in other words, getting the best value for the money, on the one hand, and increasing the pool of available resources, on the other. Specific interventions such as the promotion of transparent financial administration, budgeting and cost

  5. Bond financing for renewable energy in Asia

    International Nuclear Information System (INIS)

    Ng, Thiam Hee; Tao, Jacqueline Yujia

    2016-01-01

    Addressing the financing gap for renewable energy (RE) projects in Asia is critical to ensure that the rapidly increasing energy needs could be met sustainably. This paper explores the cause of the financing gap in Asia and proposes the use of bond financing to address the financing gap. Specifically, three fixed income instruments, namely local currency denominated (LCY) corporate bonds, asset backed project bonds and financial green bonds, will be assessed. Whilst the potential for these three instruments to mobilize large flows of private sector financing is great, key supportive policies aimed at reducing the capital market bias for conventional power generation technologies and supportive RE policies are required. Another key aspect would be the necessary deepening of local and regional fixed income markets before such capital market instruments are able to play a big role. - Highlights: •This study looks at the current financing gap and RE financing landscape in developing Asia. •LCY corporate bonds, asset backed projects bonds and financial green bonds could help to address the financing gap for RE in the region. •Policy recommendations for building the fixed income market for RE projects are provided.

  6. Financing tourist activity

    Directory of Open Access Journals (Sweden)

    Vujović Slavoljub

    2014-01-01

    Full Text Available This paper researches which of the possible financing models (self-financing, loan, mutual fund, issuing securities and leasing is the most convenient for tourism financing on the grounds of opinions and views of student population. Taking into account that future social and economic development depends on student population, that in every society intellectual endeavor (science and art exists ever since man exists, that the overall progress of mankind is based on the great intellectual endeavor of former civilizations, as well as the fact that Western Serbia has remarkable natural and anthropogenic characteristics suitable for valorization for the purpose of tourism development, the research questions were formulated and the research was performed. The methods used were: analysis, correlation, deduction and induction. Field research has been of the primary importance and it was based on questionnaires, interviews and in-depth interview. [Projekat Ministarstva nauke Republike Srbije, br. 46001 i br. 47007

  7. 48 CFR 32.003 - Simplified acquisition procedures financing.

    Science.gov (United States)

    2010-10-01

    ... procedures financing. 32.003 Section 32.003 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING 32.003 Simplified acquisition procedures financing. Unless agency regulations otherwise permit, contract financing shall not be provided for...

  8. Finance islamique : Représente-t-elle une alternative pertinente face à la finance conventionnelle ?

    OpenAIRE

    Boussabat, Badr

    2017-01-01

    D'abord, il s'agit d'exploiter les différents concepts économiques sur lesquels baser notre réflexion. Via un modèle, nous avons exploité différents variables permettant de faire contraster la finance conventionnelle de la finance islamique en concluant sur la croissance, la stabilité, l'aléa moral, le financement et enfin, l'entrepreunariat. Master [120] en sciences économiques, orientation générale, Université catholique de Louvain, 2017

  9. INTERNATIONALLY LEGAL MEASURES TO COMBAT TERRORIST FINANCING

    Directory of Open Access Journals (Sweden)

    Yuniarti Yuniarti

    2014-09-01

    Full Text Available Following the terrorist attacks in the USA on September 11th, 2001, it was discovered that money laundering was a significant source of finance for terrorists. Although, the amount of money that involve is not as involve as in drug and gun trafficking, terrorist financing had been the most important substance to be monitor. Further, various legal measures have been taken internationally in order to combat terrorist financing. This research analyses the legal measures that have been taken internationally and at EU level to combat terrorist financing. Key words: Money Laundering, Terrorist Financing, International Legal measures, EU.

  10. Teachers' views of using e-learning for non-traditional students in higher education across three disciplines [nursing, chemistry and management] at a time of massification and increased diversity in higher education.

    Science.gov (United States)

    Allan, Helen T; O'Driscoll, Mike; Simpson, Vikki; Shawe, Jill

    2013-09-01

    The expansion of the higher educational sector in the United Kingdom over the last two decades to meet political aspirations of the successive governments and popular demand for participation in the sector (the Widening Participation Agenda) has overlapped with the introduction of e-learning. This paper describes teachers' views of using e-learning for non-traditional students in higher education across three disciplines [nursing, chemistry and management] at a time of massification and increased diversity in higher education. A three phase, mixed methods study; this paper reports findings from phase two of the study. One university in England. Higher education teachers teaching on the nursing, chemistry and management programmes. Focus groups with these teachers. Findings from these data show that teachers across the programmes have limited knowledge of whether students are non-traditional or what category of non-traditional status they might be in. Such knowledge as they have does not seem to influence the tailoring of teaching and learning for non-traditional students. Teachers in chemistry and nursing want more support from the university to improve their use of e-learning, as did teachers in management but to a lesser extent. Our conclusions confirm other studies in the field outside nursing which suggest that non-traditional students' learning needs have not been considered meaningfully in the development of e-learning strategies in universities. We suggest that this may be because teachers have been required to develop e-learning at the same time as they cope with the massification of, and widening participation in, higher education. The findings are of particular importance to nurse educators given the high number of non-traditional students on nursing programmes. Copyright © 2012 Elsevier Ltd. All rights reserved.

  11. The perfect storm of information: combining traditional and non-traditional data sources for public health situational awareness during hurricane response.

    Science.gov (United States)

    Bennett, Kelly J; Olsen, Jennifer M; Harris, Sara; Mekaru, Sumiko; Livinski, Alicia A; Brownstein, John S

    2013-12-16

    Hurricane Isaac made landfall in southeastern Louisiana in late August 2012, resulting in extensive storm surge and inland flooding. As the lead federal agency responsible for medical and public health response and recovery coordination, the Department of Health and Human Services (HHS) must have situational awareness to prepare for and address state and local requests for assistance following hurricanes. Both traditional and non-traditional data have been used to improve situational awareness in fields like disease surveillance and seismology. This study investigated whether non-traditional data (i.e., tweets and news reports) fill a void in traditional data reporting during hurricane response, as well as whether non-traditional data improve the timeliness for reporting identified HHS Essential Elements of Information (EEI). HHS EEIs provided the information collection guidance, and when the information indicated there was a potential public health threat, an event was identified and categorized within the larger scope of overall Hurricane Issac situational awareness. Tweets, news reports, press releases, and federal situation reports during Hurricane Isaac response were analyzed for information about EEIs. Data that pertained to the same EEI were linked together and given a unique event identification number to enable more detailed analysis of source content. Reports of sixteen unique events were examined for types of data sources reporting on the event and timeliness of the reports. Of these sixteen unique events identified, six were reported by only a single data source, four were reported by two data sources, four were reported by three data sources, and two were reported by four or more data sources. For five of the events where news tweets were one of multiple sources of information about an event, the tweet occurred prior to the news report, press release, local government\\emergency management tweet, and federal situation report. In all circumstances where

  12. Financing public healthcare institutions in Ghana.

    Science.gov (United States)

    Akortsu, Mercy Akosua; Abor, Patience Aseweh

    2011-01-01

    The financing of healthcare services has been of a major concern to all governments in the face of increasing healthcare costs. For developing countries, where good health is considered a poverty reduction strategy, it is imperative that the hospitals used in the delivery of healthcare services are well financed to accomplish their tasks. The purpose of this paper is to examine how public hospitals in Ghana are financed, and the challenges facing the financing modes adopted. To achieve the objectives of the study, one major public healthcare institution in Ghana became the main focus. The findings of the study revealed that the main sources of financing the public healthcare institution are government subvention, internally-generated funds and donor-pooled funds. Of these sources, the internally generated fund was regarded as the most reliable, and the least reliable was the donor-pooled funds. Several challenges associated with the various financing sources were identified. These include delay in receipt of government subvention, delay in the reimbursement of services provided to subscribers of health insurance schemes, influence of government in setting user fees, and the specifications to which donor funds are put. The findings of this study have important implications for improving the financing of public healthcare institutions in Ghana. A number of recommendations are provided in this regard.

  13. 48 CFR 432.003 - Simplified acquisition procedures financing.

    Science.gov (United States)

    2010-10-01

    ... procedures financing. 432.003 Section 432.003 Federal Acquisition Regulations System DEPARTMENT OF AGRICULTURE GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING 432.003 Simplified acquisition procedures financing. (a) The chief of the contracting office may approve contract financing on a contract to be...

  14. 48 CFR 1332.003 - Simplified acquisition procedures financing.

    Science.gov (United States)

    2010-10-01

    ... procedures financing. 1332.003 Section 1332.003 Federal Acquisition Regulations System DEPARTMENT OF COMMERCE GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING 1332.003 Simplified acquisition procedures financing. Contract financing may be provided for purchases made under the authority of FAR Part 13. Contract...

  15. ASPECTS REGARDING THE FINANCING OF HIGHER EDUCATION

    OpenAIRE

    Adrian Macris; Maria Macris

    2008-01-01

    This paper sets forth the issue of financing higher education in Romania according tothe fundamental principles adopted by most of the countries of the European Union. Under suchcircumstances, the two components of financing State universities are minutely exhibited, namelybasic financing and complementary financing. At the same time, the extremely important matterrequiring the foundation of an efficient and competitive educational system demanded by the newenvironment also implies the provid...

  16. 12 CFR 226.4 - Finance charge.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 3 2010-01-01 2010-01-01 false Finance charge. 226.4 Section 226.4 Banks and Banking FEDERAL RESERVE SYSTEM (CONTINUED) BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM TRUTH IN LENDING (REGULATION Z) General § 226.4 Finance charge. (a) Definition. The finance charge is the cost of consumer credit as a dollar amount. It...

  17. Voices from Caribbean Classrooms: The Academic and Lived Experience of Jamaican Nontraditional Female Students in Higher Education

    Science.gov (United States)

    Black-Chen, Marsha

    2013-01-01

    One of the most notable trends in the last two decades has been the dramatic increase in continuing education among nontraditional-aged females. This study examined the academic and lived experience of women in Jamaica, specifically women who returned to college to further their education. Emphasis was placed on investigating reasons for…

  18. Assessing Changes in Medical Student Attitudes toward Non-Traditional Human Sexual Behaviors Using a Confidential Audience Response System

    Science.gov (United States)

    Tucker, Phebe; Candler, Chris; Hamm, Robert M.; Smith, E. Michael; Hudson, Joseph C.

    2010-01-01

    Medical students encountering patients with unfamiliar, unconventional sexual practices may have attitudes that can affect open communication during sexual history-taking. We measured changes in first-year US medical student attitudes toward 22 non-traditional sexual behaviors before and after exposure to human sexuality instruction. An…

  19. Behavioural Finance: Theory and Survey

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    Daiva Jurevičienė

    2013-04-01

    Full Text Available The paper analyses the importance of behavioural finance theories in household decision-making process. Behavioural finance theories investigate emotional characteristics to explain subjective factors and irrational anomalies in financial markets. In this regard, behavioural theories and behavioural anomalies in the decision-making process are examined; the application opportunities in the financial market are described. The aim of investigation is to determine the basic features and slopes of behavioural finance in concordance with financial decisions of a household. The survey method was applied to ascertain financial behaviour of literate households.

  20. PUBLIC FINANCING OF HEALTHCARE SERVICES

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    Agnieszka Bem

    2013-10-01

    Full Text Available Healthcare in Poland is mainly financed by public sector entities, among them the National Health Fund (NFZ, state budget and local government budgets. The task of the National Health Fund, as the main payer in the system, is chiefly currently financing the services. The state budget plays a complementary role in the system, and finances selected groups of services, health insurance premiums and investments in healthcare infrastructure. The basic role of the local governments is to ensure access to the services, mostly by performing ownership functions towards healthcare institutions.