Higher bank capital requirements and mortgage pricing: evidence from the Counter-Cyclical Capital Buffer

OpenAIRE

Basten, Christoph; Koch, Cathérine

2014-01-01

We examine mortgage pricing before and after Switzerland was the first country to activate the Counter-Cyclical Capital Buffer of Basel III. Observing multiple mortgage offers per request, we obtain three core findings. First, capitalconstrained and mortgage-specialized banks raise their rates relatively more. Second, risk-weighting schemes supposed to discriminate against more risky borrowers do not amplify the effect of higher capital requirements. Third, CCB-subjected banks and CCB-exempt ...

12 CFR 567.10 - Consequences of failure to meet capital requirements.

Science.gov (United States)

2010-01-01

...; and (5) The savings association's ratio of core capital to total assets is not less than the ratio..., the leverage ratio requirement, or the tangible capital requirement established under this part, the... expenditures to specified levels; (9) Increase liquid assets and maintain such increased liquidity at specified...

Fuel cycle financing, capital requirements and sources of funds

International Nuclear Information System (INIS)

Manderbach, R.W.

1977-01-01

An issue of global importance today is the economic case for nuclear power and the conservation of precious fossil resources. A question important to all of us is can sufficient financial resources be attracted to the nuclear industry in order to develop a complete fuel cycle industry capable of meeting the requirements of a global nuclear power industry. Future growth of the nuclear power industry will depend to a large extent on the timely development of a private competitive industry covering the total fuel cycle. The report of the Edison Electric Institute on Nuclear Fuels Supply estimates that by 1985 initial capital investment in the nuclear fuel cycle will total $15 billion and by the year 2000, $60 billion will be required. Although undoubtedly the amount of funding projected is manageable from a global availability standpoint, there is a hesitancy to commit financial resources to certain segments of the fuel cycle. This is because of the many unresolved problems in connection with the nuclear industry such as uncertainty regarding local and international governmental regulations and legislation, environmental and alternative technological considerations coupled, of course, with the substantial capital long term commitments needed in each of the several segments of the processes. Activities associated with the nuclear fuel cycle have unique investment requirements. Investments are needed in many diverse unrelated fields such as resource development and high technology process some of which are not yet fully commercialized. Sources of capital will be examined on a national scale, such as net earnings, depreciation, capital market and public subsidies. The paper also examines, in the broader context, capital investments in highly industrialized and developing countries as well as discussing the possible areas of Government guarantees and financing. The intensive capital required in certain segments of the cycle, which are to be developed by private

Economic analysis vs. capital-recovery requirements of power reactor decommissioning

International Nuclear Information System (INIS)

Ferguson, J.S.

1980-01-01

As a consultant to electric utilities the author often becomes involved in the development of policy for capital recovery and in the determination of depreciation rates that will implement the policy. Utility capital recovery is controlled by generally accepted depreciation accounting practices and by regulatory commission accounting rules and, as a result, can differ significantly from engineering economics. Those involved with decommissioning of power reactors should be aware of the depreciation accounting and regulatory framework that dictates capital recovery requirements, whether their involvement is related to engineering economics or capital recovery. This presentation defines that framework, points out several significant implications (particularly tax), describes several conforming capital-recovery methods, describes several techniques that have been used with the decommissioning component in economic analysis of alternative energy sources, and discusses why those involved in economic analysis should learn the accounting and regulatory framework for capital recovery

Fuel-cycle financing, capital requirements and sources of funds

International Nuclear Information System (INIS)

Manderbach, R.W.

1977-01-01

An issue of global importance today is the economic case fro nuclear power and the conservation of precious fossil resources. An important question is whether sufficient financial resources can be attracted to the nuclear industry in order to develop a complete fuel-cycle industry capable of meeting the requirements of a global nuclear power industry. Future growth of the nuclear power industry will depend largely on the timely development of a private competitive industry covering the total fuel cycle. The report of the Edison Electric Institute on Nuclear Fuels Supply estimates that by 1985 initial capital investmentor in the nuclear fuel cycle will total US$15x10 9 and by the year 2000, US$60x10 9 will be required. Although the amount of funding projected is manageable from a global availability standpoint, there is a hesitancy to commit financial resources to certain segments of the fuel cycle, because of the many unresolved problems in connection with the nuclear industry - uncertainty regarding local and international governmental regulations and legislation, environmental and alternative technological considerations coupled with the substantial long-term capital commitments needed in each of the several segments of the processes. Activities associated with the nuclear fuel cycle have unique investment requirements, which are needed in many diverse unrelated fields such as resource development and high technology process. This paper examines sources of capital on a national scale, such as net earnings, depreciation, capital market and public subsidies; and, in the broader context, capital investments in highly industrialized and developing countries. Possible areas of government guarantees and financing; and the situation on financing fuel-cycle projects in the USA and in other countries is also discussed. Comments are included on the money market and investment climate in developing countries, particularly regarding the development of uranium resources

46 CFR 176.635 - Preliminary examination requirements.

Science.gov (United States)

2010-10-01

... 46 Shipping 7 2010-10-01 2010-10-01 false Preliminary examination requirements. 176.635 Section... (UNDER 100 GROSS TONS) INSPECTION AND CERTIFICATION Hull and Tailshaft Examinations § 176.635 Preliminary examination requirements. (a) If you exclusively use divers to examine the underwater hull plating, you must...

On meeting capital requirements with a chance-constrained optimization model.

Science.gov (United States)

Atta Mills, Ebenezer Fiifi Emire; Yu, Bo; Gu, Lanlan

2016-01-01

This paper deals with a capital to risk asset ratio chance-constrained optimization model in the presence of loans, treasury bill, fixed assets and non-interest earning assets. To model the dynamics of loans, we introduce a modified CreditMetrics approach. This leads to development of a deterministic convex counterpart of capital to risk asset ratio chance constraint. We pursue the scope of analyzing our model under the worst-case scenario i.e. loan default. The theoretical model is analyzed by applying numerical procedures, in order to administer valuable insights from a financial outlook. Our results suggest that, our capital to risk asset ratio chance-constrained optimization model guarantees banks of meeting capital requirements of Basel III with a likelihood of 95 % irrespective of changes in future market value of assets.

78 FR 76973 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

Science.gov (United States)

2013-12-20

... Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule, and Market Risk Capital..., 2013, a document adopting a final rule that revises its risk-based and leverage capital requirements... risk-based and leverage capital requirements for banking organizations. An allowance for additional...

Liberalization, Moral Hazard in Banking, and Prudential Regulation: Are Capital Requirements Enough?

OpenAIRE

Kevin C. Murdock; Thomas F. Hellmann; Joseph E. Stiglitz

2000-01-01

In a dynamic model of moral hazard, competition can undermine prudent bank behavior. While capital-requirement regulation can induce prudent behavior, the policy yields Pareto-inefficient outcomes. Capital requirements reduce gambling incentives by putting bank equity at risk. However, they also have a perverse effect of harming banks' franchise values, thus encouraging gambling. Pareto-efficient outcomes can be achieved by adding deposit-rate controls as a regulatory instrument, since they f...

Phasing-in Basel III capital and liquidity requirements in post-revolution Egypt

Directory of Open Access Journals (Sweden)

Monal Abdel-Baki

2012-08-01

Full Text Available The Basel Committee has introduced a new set of capital and liquidity requirements to be introduced by the global banking system during 2013 till January 2019. Egypt possesses a well-capitalised banking sector, yet it has been exposed to the devastating shock imposed by its popular revolution. Using the GMM method, the impact of introducing the new capital and liquidity requirements on the macroeconomic performance of the Egyptian economy is examined. The results reveal that Egyptian banks are motivated to enhance capital and liquidity ratios in the case of realizing high profits and favourable conditions at the individual banking level. On the other hand, negative macroeconomic performance and a poor business environment substantially deter the preparedness of Egyptian banks to meet the Basel III requirements. The analysis is timely given the need for compliance with Basel III as one of the requirements to raise the credit rating of the devastated economy.

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

International Nuclear Information System (INIS)

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

1980-01-01

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

Preliminary waste acceptance requirements - Konrad repository project

International Nuclear Information System (INIS)

Brennecke, P.W.; Warnecke, E.H.

1991-01-01

In Germany, the planned Konrad repository is proposed for the disposal of all types of radioactive wastes whose thermal influence upon the host rock is negligible. The Bundesamt fuer Strahlenschutz has established Preliminary Waste Acceptance Requirements (as of April 1990) for this facility. The respective requirements were developed on the basis of the results of site-specific safety assessments. They include general requirements on the waste packages to be disposed of as well as more specific requirements on the waste forms, the packaging and the radionuclide inventory per waste package. In addition, the delivery of waste packages was regulated. An outline of the structure and the elements of the Preliminary Waste Acceptance Requirements of April 1990 is given including comments on their legal status. (Author)

12 CFR 955.6 - Risk-based capital requirement for acquired member assets.

Science.gov (United States)

2010-01-01

... losses as support for the credit risk of all AMA estimated by the Bank to represent a credit risk that is...) Recalculation of credit enhancement. For risk-based capital purposes, each Bank shall recalculate the estimated... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Risk-based capital requirement for acquired...

40 CFR 35.3135 - Specific capitalization grant agreement requirements.

Science.gov (United States)

2010-07-01

... received a capitalization grant and, if the deposit was expended, it was expended in accordance with title... after it receives the payment, the RA may withhold future quarterly grant payments, and require... procedures regarding the commitment or expenditure of revenues. (h) State accounting and auditing procedures...

78 FR 62417 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

Science.gov (United States)

2013-10-22

..., Standardized Approach for Risk-Weighted Assets, Market Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule, and Market Risk Capital Rule AGENCY: Federal Deposit Insurance... Assets, Market Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule, and...

The Department of Defense's Civilian Human Capital Strategic Plan Does Not Meet Most Statutory Requirements

National Research Council Canada - National Science Library

Farrell, Brenda S

2008-01-01

To examine the extent to which DOD's civilian human capital strategic plan addresses congressional reporting requirements, we obtained and analyzed the "Department of Defense Civilian Human Capital...

12 CFR 567.9 - Tangible capital requirement.

Science.gov (United States)

2010-01-01

... capital, a savings association must deduct from assets, and, thus, from capital: (1) Intangible assets (as defined in § 567.1) except for mortgage servicing assets to the extent they are includable in tangible... maintain tangible capital in an amount equal to at least 1.5% of adjusted total assets. (b) The following...

Capital Requirements, Monetary Policy, and Aggregate Bank Lending: Theory and Empirical Evidence.

OpenAIRE

Thakor, Anjan V

1996-01-01

Capital requirements linked solely to credit risk are shown to increase equilibrium credit rationing and lower aggregate lending. The model predicts that the bank's decision to lend will cause an abnormal run-up in the borrower's stock price and that this reaction will be greater the more capital-constrained the bank. The author provides empirical support for this prediction. The model explains the recent inability of the Federal Reserve to stimulate bank lending by increasing the money suppl...

76 FR 27563 - Margin and Capital Requirements for Covered Swap Entities

Science.gov (United States)

2011-05-11

... Comptroller of the Currency 12 CFR Part 45 Board of Governors of the Federal Reserve System 12 CFR Part 237... Housing Finance Agency 12 CFR Part 1221 Margin and Capital Requirements for Covered Swap Entities...; [[Page 27564

Crispin: capital requirements and reinsurance protect against insolvency.

Science.gov (United States)

Crispin, C

2001-12-01

Charles Crispin is president of Evergreen Re, a managed care consulting firm with expertise in the reinsurance industry. Before Joining Evergreen Re, Crispin served as a consultant to the managed care industry. He is a member of the American Association of Integrated Delivery Systems, Glen Allen, Virginia, and the Provider Excess Loss Association, Princeton, New Jersey. Crispin recently talked with HFM about risk-based capital requirements for health plans and the Impact these solvency guidelines could have on healthcare providers.

76 FR 27801 - Capital Requirements of Swap Dealers and Major Swap Participants

Science.gov (United States)

2011-05-12

... swaps, debt or equity securities, foreign currency, physical commodities, and other derivatives. The..., 23, and 140 Capital Requirements of Swap Dealers and Major Swap Participants; Proposed Rule #0;#0...

When does International Capital Mobility Require Tax Coordination?

NARCIS (Netherlands)

Rodrik, D.; van Ypersele, T.P.M.C.

1999-01-01

Basic economic theory identifies a number of efficiency gains that derive from international capital mobility. But just as with free trade in goods, there is no guarantee that capital mobility makes everyone better o¤. Consequently, capital mobility may be politically unsustainable even though it

78 FR 62017 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

Science.gov (United States)

2013-10-11

... unlevel playing field between banking organizations and other financial services providers. For example, a... for banking organizations. The final rule consolidates three separate notices of proposed rulemaking... minimum capital requirement, a higher minimum tier 1 capital requirement, and, for banking organizations...

75 FR 6151 - Minimum Capital

Science.gov (United States)

2010-02-08

... capital and reserve requirements to be issued by order or regulation with respect to a product or activity... minimum capital requirements. Section 1362(a) establishes a minimum capital level for the Enterprises... entities required under this section.\\6\\ \\3\\ The Bank Act's current minimum capital requirements apply to...

Private Equity and Regulatory Capital

NARCIS (Netherlands)

Bongaerts, D.; Charlier, E.

2008-01-01

Regulatory Capital requirements for European banks have been put forward in the Basel II Capital Framework and subsequently in the Capital Requirements Directive (CRD) of the EU. We provide a detailed discussion of the capital requirements for private equity investments under the simple risk weight

13 CFR 120.462 - What are SBA's additional requirements on capital maintenance for SBA Supervised Lenders?

Science.gov (United States)

2010-01-01

... capital that each SBA Supervised Lender must maintain to protect against the credit risk and other general... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false What are SBA's additional requirements on capital maintenance for SBA Supervised Lenders? 120.462 Section 120.462 Business Credit and...

78 FR 55339 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

Science.gov (United States)

2013-09-10

... countercyclical capital buffer was designed to take into account the macro-financial environment in which large... ability to raise capital to meet the increased minimum requirements in the current environment and upon...

12 CFR 567.4 - Capital directives.

Science.gov (United States)

2010-01-01

... requirement, the leverage ratio requirement, the tangible capital requirement, or individual minimum capital... capital directive, it may become effective immediately. A capital directive shall remain in effect and... plan shall continue in full force and effect. (b) Relation to other administrative actions. The Office...

Capital Regulation, Liquidity Requirements and Taxation in a Dynamic Model of Banking

NARCIS (Netherlands)

Di Nicolo, G.; Gamba, A.; Lucchetta, M.

2011-01-01

This paper formulates a dynamic model of a bank exposed to both credit and liquidity risk, which can resolve financial distress in three costly forms: fire sales, bond issuance ad equity issuance. We use the model to analyze the impact of capital regulation, liquidity requirements and taxation on

Capital Regulation, Liquidity Requirements and Taxation in a Dynamic Model of Banking

NARCIS (Netherlands)

Di Nicolo, G.; Gamba, A.; Lucchetta, M.

2011-01-01

This paper formulates a dynamic model of a bank exposed to both credit and liquidity risk, which can resolve financial distress in three costly forms: fire sales, bond issuance and equity issuance. We use the model to analyze the impact of capital regulation, liquidity requirements and taxation on

Functional requirements regarding medical registries--preliminary results.

Science.gov (United States)

Oberbichler, Stefan; Hörbst, Alexander

2013-01-01

The term medical registry is used to reference tools and processes to support clinical or epidemiologic research or provide a data basis for decisions regarding health care policies. In spite of this wide range of applications the term registry and the functional requirements which a registry should support are not clearly defined. This work presents preliminary results of a literature review to discover functional requirements which form a registry. To extract these requirements a set of peer reviewed articles was collected. These set of articles was screened by using methods from qualitative research. Up to now most discovered functional requirements focus on data quality (e. g. prevent transcription error by conducting automatic domain checks).

12 CFR 325.3 - Minimum leverage capital requirement.

Science.gov (United States)

2010-01-01

... depository institution making application to the FDIC) shall consist of a ratio of Tier 1 capital to total..., excellent asset quality, high liquidity, good earnings and in general is considered a strong banking... application to the FDIC) shall consist of a ratio of Tier 1 capital to total assets of not less than 4 percent...

12 CFR 325.103 - Capital measures and capital category definitions.

Science.gov (United States)

2010-01-01

... STATEMENTS OF GENERAL POLICY CAPITAL MAINTENANCE Prompt Corrective Action § 325.103 Capital measures and... agreement, order, capital directive, or prompt corrective action directive issued by the FDIC pursuant to... CFR 28.15(b), or to comply with asset maintenance requirements pursuant to 12 CFR 28.20; or (B) The...

Preliminary waste acceptance requirements for the planned Konrad repository

International Nuclear Information System (INIS)

Warnecke, E.; Brennecke, P.

1987-01-01

The Physikalisch-Technische Bundesanstalt (PTB) has established Preliminary Waste Acceptance Requirements for the planned Konrad repository. These requirements were developed, in accordance with the Safety Criteria of the Reactor Safety Commission, with the help of a site specific safety assessment; they are under the reservation of the plan approval procedure, which is still in progress. In developing waste acceptance requirements, the PTB fulfills one of its duties as the institute responsible for waste disposal and gives guidelines for waste conditioning to waste producers and conditioners. (orig.) [de

13 CFR 108.1830 - NMVC Company's Capital Impairment definition and general requirements.

Science.gov (United States)

2010-01-01

... ADMINISTRATION NEW MARKETS VENTURE CAPITAL (âNMVCâ) PROGRAM NMVC Company's Noncompliance With Terms of Leverage Computation of Nmvc Company's Capital Impairment § 108.1830 NMVC Company's Capital Impairment definition and... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false NMVC Company's Capital Impairment...

Preliminary Project Execution Plan for the Remote-Handled Low-Level Waste Disposal Project

Energy Technology Data Exchange (ETDEWEB)

David Duncan

2011-05-01

This preliminary project execution plan (PEP) defines U.S. Department of Energy (DOE) project objectives, roles and responsibilities of project participants, project organization, and controls to effectively manage acquisition of capital funds for construction of a proposed remote-handled low-level waste (LLW) disposal facility at the Idaho National Laboratory (INL). The plan addresses the policies, requirements, and critical decision (CD) responsibilities identified in DOE Order 413.3B, 'Program and Project Management for the Acquisition of Capital Assets.' This plan is intended to be a 'living document' that will be periodically updated as the project progresses through the CD process to construction and turnover for operation.

Preliminary Project Execution Plan for the Remote-Handled Low-Level Waste Disposal Project

International Nuclear Information System (INIS)

Duncan, David

2011-01-01

This preliminary project execution plan (PEP) defines U.S. Department of Energy (DOE) project objectives, roles and responsibilities of project participants, project organization, and controls to effectively manage acquisition of capital funds for construction of a proposed remote-handled low-level waste (LLW) disposal facility at the Idaho National Laboratory (INL). The plan addresses the policies, requirements, and critical decision (CD) responsibilities identified in DOE Order 413.3B, 'Program and Project Management for the Acquisition of Capital Assets.' This plan is intended to be a 'living document' that will be periodically updated as the project progresses through the CD process to construction and turnover for operation.

76 FR 1889 - Risk-Based Capital Guidelines: Market Risk

Science.gov (United States)

2011-01-11

... ``three-pillar'' framework that includes (i) risk-based capital requirements for credit risk, market risk... incremental risk capital requirement to capture default and credit quality migration risk for non... (advanced approaches rules) (collectively, the credit risk capital rules) \\8\\ by requiring any bank subject...

Systematically Important Banks and Increased Capital Requirements in the Dodd-Frank Era

DEFF Research Database (Denmark)

Lutz, Chandler

2016-01-01

This paper analyzes the effects of new capital requirements for systematically important financial institutions proposed by the Federal Reserve on September 8, 2014. Results from an event study indicate this announcement led to lower abnormal initial stock returns for systemically important...... financial firms that then reverse and dissipate after three days. Further, findings suggest that the announcement of the proposed rule change had no impact on key interest series. Overall, the results are consistent with an initial overreaction and subsequent market correction to the announcement...... of the proposed regulation by equity market investors....

75 FR 82317 - Risk-Based Capital Standards: Advanced Capital Adequacy Framework-Basel II; Establishment of a...

Science.gov (United States)

2010-12-30

... leverage or risk-based capital requirements in effect for insured depository institutions as of the date of..., sections 171(b)(1) and (2) specify that the minimum leverage and risk- based capital requirements...)(1) and (2) specify that the Federal banking agencies may not establish leverage or risk-based...

Capital requirements for the transportation of energy materials: 1979 ARC estimates. Final report

Energy Technology Data Exchange (ETDEWEB)

1979-09-28

TERA's estimates of capital requirements to transport natural gas, crude oil, petroleum products, and coal in the US by 1990 are presented. It is a continuation of a 1978 study (EAPA 5:3946) to perform a similar analysis on 1979 scenarios. Scenarios B, C, and D from the EIA's Mid-range Energy Forecasting Systems, as used in the 1979 Annual Report to Congress (ARC), were provided as a basis for the analysis and represent three alternative futures. Summaries of transportation investment requirements through 1990 are given for Scenarios B, C, and D. Total investment requirements for the three models (pipelines, railroads, waterways) and the three energy commodities (coal, petroleum, petroleum products, natural gas) are estimated to range between $35.3 and $42.7 billion by 1990 depending on the scenario.

Preliminary assessment of an S.G.H.W. type research reactor

International Nuclear Information System (INIS)

Bicevskis, A.; Chapman, A.G.; Hesse, E.W.

1970-08-01

A preliminary design study has been made of a research reactor, based on the enriched S.G.H.W.R. concept, to be used for power reactor fuel irradiation, isotope production, basic research, and training in nuclear technology. A reactor physics assessment established a core size which would allow uninterrupted operation for the required irradiation period consistent with low capital and operating costs. A design was selected with 24 channels, a D 2 O calandria diameter of 2.7 m and an overall core height of 4.0 m. The capital cost was estimated as $750,000 for the fuel and $1,600,000 for the moderator, the refuelling cost being $340,000 per annum. A thermal design study showed that the fission heat of 65 MW could be transmitted to pressurised light water at 200 lb/in 2 abs. and rejected to sea water in two conventional U-tube heat exchangers. The basic design is flexible and can be adapted to meet many special requirements. (author)

LH2 airport requirements study

Science.gov (United States)

Brewer, G. D. (Editor)

1976-01-01

A preliminary assessment of the facilities and equipment which will be required at a representative airport is provided so liquid hydrogen LH2 can be used as fuel in long range transport aircraft in 1995-2000. A complete facility was conceptually designed, sized to meet the projected air traffic requirement. The facility includes the liquefaction plant, LH2, storage capability, and LH2 fuel handling system. The requirements for ground support and maintenance for the LH2 fueled aircraft were analyzed. An estimate was made of capital and operating costs which might be expected for the facility. Recommendations were made for design modifications to the reference aircraft, reflecting results of the analysis of airport fuel handling requirements, and for a program of additional technology development for air terminal related items.

Capital requirements of the US-energy economy up to 1990

International Nuclear Information System (INIS)

Posner, E.

1976-01-01

Efforts to give the U.S. energy market a new structure in favour of a higher proportion of domestic energy resources involve particular attention to investment problems and the possibilities of the U.S. capital market for providing capital for the planned energy projects. If the doubts lately expressed by members of government, industry and banks with respect to sufficient financing of domestic energy projects prove to be realistic, increased dependence of the U.S.A. on uncertain imported energies, particularly mineral oil, would not be avoidable. Among various studies and estimates of private organizations dealing with these problems, a study carried out by the Bankers Trust Company, which was published at the beginning of this year, is most remarkable. The bank investigated alternative energy consumption structures and calculated these alternatives in an effort to find out whether the objections as to sufficient capital are justified. (orig./UA) [de

13 CFR 120.471 - What are the minimum capital requirements for SBLCs?

Science.gov (United States)

2010-01-01

...) Additional paid-in capital representing amounts paid for stock in excess of the par value; (4) Retained earnings of the business; and/or (5) For limited liability companies and limited partnerships, capital...

ORGANIZATIONAL CAPITAL THEORY EXPRESSION OF ELECTRONIC HEALTH

Directory of Open Access Journals (Sweden)

Tomas Vedlūga

2017-03-01

Full Text Available Implementation of e-health is a very difficult and complex process in terms of health policy that requires both organizational ability to meet market requirements and well-managed internal communication, which is carried out through organizational capital and high organizational culture and philosophy. This process requires a change in the organizational processes of health care institutions, ensuring the management and use of health information in order to improve the functioning of health care institutions. Scientists emphasize that health care institutions, with a high organizational capital can effectively promote the development of e-health, by consistently improving the quality of health care services and increasing the confidence and sense of security by enhancing the individual‘s ability to become more involved in the health care system. Nevertheless, in Lithuania, the progress of health care institutions in the field of e-health varies significantly, therefore, different tendencies of e-health care indicators tend to be related to organizational capital. Organizational capital covering the various dimensions of social context analysis, and organizational capital theory is a paradigm that attempts to explain the e-health inequalities at the level of organizations. This paper has evaluated the organizational capital theory expression of the e-health level, to identify and analyze organizational capital assessment indices in the field of e-health and modeled organizational capital assessment scheme.

Capital planning for operating theatres based on projecting future theatre requirements.

Science.gov (United States)

Sheehan, Jennifer A; Tyler, Peter; Jayasinha, Hirani; Meleady, Kathleen T; Jones, Neill

2011-05-01

During 2006, NSW and ACT Health Departments jointly engaged KPMG to develop an Operating Theatre Requirements' Projection Model and an accompanying planning guideline. A research scan was carried out to identify drivers of surgical demand, theatre capacity and theatre performance, as well as locating existing approaches to modelling operating theatre requirements for planning purposes. The project delivered a Microsoft Excel-based model for projecting future operating theatre requirements, together with an accompanying guideline for use of the model and interpretation of its outputs. It provides a valuable addition to the suite of tools available to Health staff for service and capital planning. The model operates with several limitations, largely due to being data dependent, and the state and completeness of available theatre activity data. However, the operational flexibility built into the model allows users to compensate for these limitations, on a case by case basis, when the user has access to suitable, local data. The design flexibility of the model means that updating the model as improved data become available is not difficult; resulting in revisions being able to be made quickly, and disseminated to users rapidly.

Are Capital Buffers Countercyclical ? An Evidence From Pakistan

Directory of Open Access Journals (Sweden)

Romila Qamar

2016-09-01

Full Text Available New risk based capital requirement have pro-cyclical effect and causes negative externalities in the economy. During recession, on one side, quality of loan portfolio deteriorates and probability of default increases resulting into increased level of provisions and write off’s and reduced capital level. This causes an increase in capital requirements which becomes more expensive. Weaker banks fail to access new capital and ultimately reduce the credit supply. On the other side, banks are required to maintain the minimum capital which results into credit supply contraction and hits the bank’s profitability leading to a situation called Credit Crunch. This situation may prolong recession. During the crisis, developing countries are more affected than developed countries and this debate is entirely new in Pakistan. This research empirically investigates the pro-cyclical effect of new capital regulation under Basel II using panel data of 47 Pakistani Banks from 2001-2012. Particularly this paper examines the capital management mechanisms using capital buffers, using Generalized Method of Moments (GMM one step and two step estimation techniques on dynamic panel data model. The results gives evidence that capital buffer are counter-cyclical except in case of specialized banks because of difference in operations. The findings also suggest that adjustment costs, cost of raising capital and bankruptcy costs are major determines of holding capital buffer. Analysis confirms too big to fail hypothesis. Form the results, it is concluded that capital buffer are counter-cyclical, consistent with the hypothesis. The findings suggest the banks to adopt Basel III Accord.

Banks’ Capital and Liquidity Creation

OpenAIRE

Horváth, Roman; Seidler, Jakub; Weill, Laurent

2012-01-01

This paper examines the relation between banks’ capital and liquidity creation. This issue is of interest to determine the potential impact of higher capital requirements for banks on their liquidity creation, which may have particular importance with new Basel III reform demanding from banks higher capital. We perform Granger-causality tests in a dynamic GMM panel estimator framework on an exhaustive dataset of Czech banks from 2000 to 2010.

A Capital Adequacy Buffer Model

NARCIS (Netherlands)

D.E. Allen (David); M.J. McAleer (Michael); R.J. Powell (Robert); A.K. Singh (Abhay)

2013-01-01

markdownabstract__Abstract__ In this paper, we develop a new capital adequacy buffer model (CABM) which is sensitive to dynamic economic circumstances. The model, which measures additional bank capital required to compensate for fluctuating credit risk, is a novel combination of the Merton

STATISTICAL MODELS OF REPRESENTING INTELLECTUAL CAPITAL

Directory of Open Access Journals (Sweden)

Andreea Feraru

2016-06-01

Full Text Available This article entitled Statistical Models of Representing Intellectual Capital approaches and analyses the concept of intellectual capital, as well as the main models which can support enterprisers/managers in evaluating and quantifying the advantages of intellectual capital. Most authors examine intellectual capital from a static perspective and focus on the development of its various evaluation models. In this chapter we surveyed the classical static models: Sveiby, Edvisson, Balanced Scorecard, as well as the canonical model of intellectual capital. Among the group of static models for evaluating organisational intellectual capital the canonical model stands out. This model enables the structuring of organisational intellectual capital in: human capital, structural capital and relational capital. Although the model is widely spread, it is a static one and can thus create a series of errors in the process of evaluation, because all the three entities mentioned above are not independent from the viewpoint of their contents, as any logic of structuring complex entities requires.

A study on the effect of social capital on job satisfaction and citizenship behaviour

Directory of Open Access Journals (Sweden)

Roghiyeh Khodaei

2013-07-01

Full Text Available Social capital is one of the most important assets of any organization and it plays essential role in reaching organizational objectives. In this paper, we present an empirical study to study the effect of social capital on job satisfaction and citizenship behavior. The proposed study is performed among 240 employees who work for Allameh Tabataba’i University in Iran. The study designs a questionnaire in Likert scale and distributes it among selected employees and, using structural equation modeling, investigates the role of social capital on job satisfaction as well as citizenship behavior. The preliminary results of our survey indicate that social capital positively influences on both mentioned variables.

Capital Regulation and Bank Risk-Taking Behavior: Evidence from Pakistan

Directory of Open Access Journals (Sweden)

Badar Nadeem Ashraf

2016-08-01

Full Text Available In response to the global financial crisis of 2007–2009, risk-based capital requirements have been reinforced in the new Basel III Accord to counter excessive bank risk-taking behavior. However, prior theoretical as well as empirical literature that studies the impact of risk-based capital requirements on bank risk-taking behavior is inconclusive. The primary purpose of this paper is to examine the impact of risk-based capital requirements on bank risk-taking behavior, using a panel dataset of 21 listed commercial banks of Pakistan over the period 2005–2012. Purely regulatory measures of bank capital, capital adequacy ratio, and bank assets portfolio risk, risk-weighted assets to total assets ratio, are used for the main analysis. Recently developed small N panel methods (bias corrected least squares dummy variable (LSDVC method and system GMM method with instruments collapse option are used to control for panel fixed effects, dynamic dependent variables, and endogenous independent variables. Overall, the results suggest that commercial banks have reduced assets portfolio risk in response to stringent risk-based capital requirements. Results also confirm that all banks having risk-based capital ratios either lower or higher than the regulatory required limits, have decreased portfolio risk in response to stringent risk-based capital requirements. The results are robust to alternative proxies of bank risk-taking, alternative estimation methods, and alternative samples.

12 CFR 704.3 - Corporate credit union capital.

Science.gov (United States)

2010-01-01

... minimum level of required capital and NEV ratios after the funds are called. (4) Liquidation. In the event...) Capital ratio. A corporate credit union will maintain a minimum capital ratio of 4 percent, except as otherwise provided in this part. A corporate credit union must calculate its capital ratio at least monthly...

Social capital in engineering education

Science.gov (United States)

Brown, Shane

A theoretical argument is presented to suggest that engineering curriculum be designed to develop social capital. Additionally, the value of social capital in the retention of students in the College of Engineering, and the development, role, and value of social capital in an electrical engineering laboratory is evaluated. Data collected includes participant observations, informal and formal student interviews, and a researcher-designed survey. Social capital consists of interaction among individuals (networks), social rules that encourage interactions such as trust and reciprocity (norms), and the value of these networks and norms to the individual and the group. A large body of evidence suggests that social capital is valuable in terms of retention and multiple measures of academic achievement. The importance of social capital in retention was verified by students that have left engineering and those that remain, in terms of interactions with peers, teaching assistants, and engineering faculty; and a lack of sense of community in freshman engineering courses. Students that have left engineering differed in their perceptions of social capital from those that remain in their frustrations with teaching methods that encourage little discussion or opportunities to ask questions about assumptions or approaches. The open-ended nature of laboratory assignments, extensive required troubleshooting, and lack of specific directions from the teaching assistants were found to encourage the development of social capital in the laboratory setting. Degree centrality, a network measure of social capital as the number of ties an individual has within a social network, was found to be positively correlated with laboratory grade. Student perceptions of the importance of interactions with other students on success in the laboratory setting has a negative model effect on academic achievement in the laboratory. In contrast, student perceptions of the quality of interactions with

Basic Requirements Of The Basel Committee On Regulating Capital Adequacy And Liquidity Of Commercial Banks

OpenAIRE

Bahriddin Berdiyarov

2012-01-01

The current paper highlights theBaselI, Basel II & Basel III requirements on capital adequacy and liquidity of commercial banks.  In the paper, Basel II structure, methods of loan risk assessment, coefficients of loan risk assessment, credit risk measurement for counterparty banks are discussed.  Moreover, assessments of Basel III on bank chances against crisis driven from financial and economic crunches, risk management, performance quality and bank transparency improvement measures are ...

12 CFR 931.3 - Minimum investment in capital stock.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Minimum investment in capital stock. 931.3... CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.3 Minimum investment in capital stock. (a) A Bank shall require each member to maintain a minimum investment in the capital stock of the Bank, both...

Preliminary site requirements and considerations for a monitored retrievable storage facility

International Nuclear Information System (INIS)

1991-08-01

This report presents preliminary requirements and considerations for siting monitored retrievable storage (MRS) facility. It purpose is to provide guidance for assessing the technical suitability of potential sites for the facility. It has been reviewed by the NRC staff, which stated that this document is suitable for ''guidance in making preliminary determinations concerning MRS site suitability.'' The MRS facility will be licensed by the US Nuclear Regulatory Commission. It will receive spent fuel from commercial nuclear power plants and provide a limited amount of storage for this spent fuel. When a geologic repository starts operations, the MRS facility will also stage spent-fuel shipments to the repository. By law, storage at the MRS facility is to be temporary, with permanent disposal provided in a geologic repository to be developed by the DOE

24 CFR 891.145 - Owner deposit (Minimum Capital Investment).

Science.gov (United States)

2010-04-01

... General Program Requirements § 891.145 Owner deposit (Minimum Capital Investment). As a Minimum Capital... Investment shall be one-half of one percent (0.5%) of the HUD-approved capital advance, not to exceed $25,000. ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Owner deposit (Minimum Capital...

13 CFR 120.472 - Higher individual minimum capital requirement.

Science.gov (United States)

2010-01-01

... capital level, and the performance of its SBA loan portfolio; (e) The management views of the SBLC's directors and senior management; and (f) Other risk-related factors, as determined by SBA. [73 FR 75516, Dec... those circumstances or potential problems; (c) Overall condition, management strength, and future...

12 CFR 208.4 - Capital adequacy.

Science.gov (United States)

2010-01-01

... Banking FEDERAL RESERVE SYSTEM BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM MEMBERSHIP OF STATE BANKING INSTITUTIONS IN THE FEDERAL RESERVE SYSTEM (REGULATION H) General Membership and Branching Requirements § 208.4 Capital adequacy. (a) Adequacy. A member bank's capital, as defined in appendix A to this...

13 CFR 108.200 - Adequate capital for NMVC Companies.

Science.gov (United States)

2010-01-01

... VENTURE CAPITAL (âNMVCâ) PROGRAM Qualifications for the NMVC Program Capitalizing A Nmvc Company § 108.200 Adequate capital for NMVC Companies. You must meet the requirements of §§ 108.200-108.230 in order to... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Adequate capital for NMVC...

Financial Market Regulation in Germany - Capital Requirements of Financial Institutions

Directory of Open Access Journals (Sweden)

Daniel Karl Detzer

2015-03-01

Full Text Available This paper examines capital adequacy regulation in Germany. The first part reviews capital adequacy regulation from the 1930s up to the financial crisis and identifies two main trends: a gradual softening of the eligibility criteria for equity and increasing reliance on internal risk models. While the first trend has been reversed following the financial crisis, internal risk models still play a central role. Therefore, the second part discusses the problems with the use of internal risk models and discusses the potentials of Basel 2.5 and Basel III to alleviate the identified problems. It is concluded that the relevant problems are not resolved. Therefore, in the final part some suggestions of how the problems could be addressed properly are given.

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

Operational risk in bank governance and control: How to save capital requirement through a risk transfer strategy. Evidences from a simulated case study

Directory of Open Access Journals (Sweden)

Enzo Scannella

2015-06-01

Full Text Available Operational risk management in banking has assumed such importance during the last decade. It has become increasingly important to measure, manage, and assess the impact of operational risk in the economics of banking. The purpose of this paper is to demonstrate how an effective operational risk management provides mitigating effects on capital-at-risk in banking. The paper provides evidences that an implementation of an operational risk transfer strategy reduces bank capital requirement. The paper adopts the loss distribution approach, the Monte Carlo simulation, and copula methodologies to estimate the regulatory capital and simulate an operational risk transfer strategy in banking.

A disciplined approach to capital: today's healthcare imperative.

Science.gov (United States)

Dupuis, Patrick J; Kaufman, Kenneth

2007-07-01

BJC HealthCare's experience exemplifies several basic principles of a finance-based approach to capital. Organizations that adopt this approach look to improve processes first, remove costs second, and spend capital last. Multiyear planning is required to quantitatively identify the profitability and liquidity requirements of strategic initiatives and address essential funding and financing issues.

Spare Parts Management of Aging Capital Products

NARCIS (Netherlands)

M. Hekimoğlu (Mustafa)

2015-01-01

textabstractSpare parts are critical for operations of capital products such as aircraft, refineries, trucks, etc/, which require maintenance regularly. Original Equipment Manufacturers (OEMs) bear the responsibility of undisrupted maintenance service and spare parts flow for their capital products.

Exploring the Social Capital of Adolescents Who Are Deaf or Hard of Hearing and Their Parents: A Preliminary Investigation.

Science.gov (United States)

Wong, Cara L; Ching, Teresa Y; Whitfield, Jessica; Duncan, Jill

2018-01-01

The study explored the social capital of Australian adolescents who were deaf or hard of hearing (DHH) and their parents, and investigated the relationship between social capital and individual characteristics, language, literacy, and psychosocial outcomes. Sixteen adolescents (ages 11-14 years) and 24 parents enrolled in the Longitudinal Outcomes of Children with Hearing Impairment (LOCHI) study completed an online questionnaire on social capital and psychosocial outcomes. Information about demographics, language, and literacy was retrieved from the LOCHI study database. On average, parent-rated social capital was positively related to adolescent-rated social capital, but not to child outcomes. Aspects of adolescent-reported social capital were significantly related to the adolescents' language and reading skills, but not to psychosocial outcomes. This study gives support to the promotion of social capital in adolescents who are DHH and their families, and considers how social capital promotion could be applied in interventions.

Higher Bank Capital Requirements and Mortgage Pricing: Evidence from the Countercyclical Capital Buffer (CCB)

OpenAIRE

Basten, Christhoph; Koch, Cathérine

2015-01-01

How has the CCB affected mortgage pricing after Switzerland became the first country to activate this Basel III macroprudential tool? By analyzing a database with several offers per mortgage request, we construct a picture of mortgage supply and demand. We find, first, that the CCB changes the composition of mortgage supply, as relatively capital-constrained and mortgage-specialized banks raise prices more than their competitors do. Second, risk-weighting schemes linked to borrower risk do no...

Ex-vessel core catcher design requirements and preliminary concepts evaluation

International Nuclear Information System (INIS)

Friedland, A.J.; Tilbrook, R.W.

1974-01-01

As part of the overall study of the consequences of a hypothetical failure to scram following loss of pumping power, design requirements and preliminary concepts evaluation of an ex-vessel core catcher (EVCC) were performed. EVCC is the term applied to a class of devices whose primary objective is to provide a stable subcritical and coolable configuration within containment following a postulated accident in which it is assumed that core debris has penetrated the Reactor Vessel and Guard Vessel. Under these assumed conditions a set of functional requirements were developed for an EVCC and several concepts were evaluated. The studies were specifically directed toward the FFTF design considering the restraints imposed by the physical design and construction of the FFTF plant

Capital Budgeting: Do Private Sector Methods of Budgeting for Capital Assets Have Applicability to the Department of Defense

Science.gov (United States)

2005-12-01

asset pricing model ( CAPM ). “According to the CAPM theory, investors determine their required return by adding a risk premium to the interest rate...NUMBER OF PAGES 77 14. SUBJECT TERMS Capital Budgeting; GAO; DOD; Capital Assets ; Risk, OMB; NPV, IRR 16. PRICE CODE 17. SECURITY...needs of the mission, as defined by the strategic plan, and limit the number of “nice to haves” (OMB, 1997). d. Alternatives to Capital Assets

The manager and equipment decisions: the capital budget.

Science.gov (United States)

McConnell, Charles R

2011-01-01

As part of his or her role in preparing a departmental budget, a manager must often become involved in budgeting for capital expenditures, those purchases that are of a type and sufficient dollar value to be capitalized and depreciated. Depending on the value of a proposed purchase, the department manager may have only a partial voice in the process; some significant purchases will require administrative approval, whereas some major acquisitions will require approval by the board of directors. Planning for possible capital purchases should begin well before the start of the annual budget exercise. Listing a capital item in the department's budget request does not imply approval; often, there are many more "needs" than there are capital funds available. Therefore, there must be a consistent process for identifying the proposed purchases that will be funded, such process necessarily including detailed specification of the need for a particular capital purchase, identification of all reasonable alternatives, consideration of any constraints, detailed financial comparison of alternatives, assessment of intangible factors, and a recommended choice.

Comparative economics for DUCRETE spent fuel storage cask handling, transportation, and capital requirements

International Nuclear Information System (INIS)

Powell, F.P.

1995-04-01

This report summarizes economic differences between a DUCRETE spent nuclear fuel storage cask and a conventional concrete storage cask in the areas of handling, transportation, and capital requirements. The DUCRETE cask is under evaluation as a new technology that could substantially reduce the overall costs of spent fuel and depleted U disposal. DUCRETE incorporates depleted U in a Portland cement mixture and functions as the cask's primary radiation barrier. The cask system design includes insertion of the US DOE Multi-Purpose Canister inside the DUCRETE cask. The economic comparison is from the time a cask is loaded in a spent fuel pool until it is placed in the repository and includes the utility and overall US system perspectives

Corporate Data Network (CDN). Data Requirements Task. Preliminary Strategic Data Plan. Volume 4

International Nuclear Information System (INIS)

1985-11-01

The NRC has initiated a multi-year program to centralize its information processing in a Corporate Data Network (CDN). The new information processing environment will include shared databases, telecommunications, office automation tools, and state-of-the-art software. Touche Ross and Company was contracted with to perform a general data requirements analysis for shared databases and to develop a preliminary plan for implementation of the CDN concept. The Enterprise Model (Vol. 1) provided the NRC with agency-wide information requirements in the form of data entities and organizational demand patterns as the basis for clustering the entities into logical groups. The Data Dictionary (Vol.2) provided the NRC with definitions and example attributes and properties for each entity. The Data Model (Vol.3) defined logical databases and entity relationships within and between databases. The Preliminary Strategic Data Plan (Vol. 4) prioritized the development of databases and included a workplan and approach for implementation of the shared database component of the Corporate Data Network

CAPITAL STRUCTURE AND VENTURE CAPITAL

Directory of Open Access Journals (Sweden)

Becsky-Nagy Patricia

2015-07-01

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

Measuring excess capital capacity in agricultural production

NARCIS (Netherlands)

Zhengfei, G.; Kumbhakar, S.C.; Myers, R.J.; Oude Lansink, A.G.J.M.

2009-01-01

We introduce the concept "excess capital capacity" and employ a stochastic input requirement frontier to measure excess capital capacity in agricultural production. We also propose a two-step estimation method that allows endogenous regressors in stochastic frontier models. The first step uses

Sources of Regional Banks Capitalization

Directory of Open Access Journals (Sweden)

Olga Sergeevna Miroshnichenko

2018-03-01

Full Text Available Searching of sources to increase the capitalization of Russian banks is an important economic problem for both the national and regional economy. Moreover, a strong capital base allows to credit institutions to meet the demands of economic agents for banking service. The research focuses on the choice of sources of regulatory capital for the banks of Tyumen region in the context of changing supervisory requirements in the period of 2005–2016, in different phases of the business cycle. We apply econometric methods of statistical information using IBM SPSS Statistics software. We have calculated the individual correlations of regional banks’ capital with gross domestic product (GDP (excluding gross regional product (GRP and GRP (with the exception of the effect of GDP. These calculations have shown that the capital of regional banks is related only to GDP. The increase in the capital of regional banks is accompanied by a change in its structure: the share of authorized capital has halved, and the share of subordinated debt has grown. All sources of capital, other than the reserve fund, are related to GDP. Authorized capital is associated with the profit of profitable lending institutions; retained earnings in the capital of regional banks — with the aggregated amount of risks of the banking system of the Russian Federation. Subordinated debt, like capital as a whole, is negatively affected by the profitability of the banking sector. The change in the capital of regional banks is determined by the change in retained earnings, subordinated debt and reserve fund. Modelling of these relations has allowed to obtain a system of equations. This system synthesizes linear regression models of changing the capital of regional banks in the context of their sourcing. The results of this study are significant for theoretical justification and practical development of a balanced financial policy of regional banks. Our research will contribute to

Pension fund's illiquid assets allocation under liquidity and capital constraints

OpenAIRE

Broeders, Dirk; Jansen, Kristy; Werker, Bas

2017-01-01

This paper empirically assesses the impact of liquidity and capital constraints on the allocation of defined benefit pension funds to illiquid assets. Liquidity constraints result from short-term pension payments and collateral requirements on derivatives. Capital constraints follow from the requirement to retain sufficient capital to absorb unexpected losses. Liability duration and hedging affect the allocation to illiquid assets through both these constraints. First, we find a hump-shaped i...

Utility requirements for fusion

International Nuclear Information System (INIS)

Vondrasek, R.J.

1982-02-01

This report describes work done and results obtained during performance of Task 1 of a study of Utility Requirements and Criteria for Fusion Options. The work consisted of developing a list of utility requirements for fusion optics containing definition of the requirements and showing their relative importance to the utility industry. The project team members developed a preliminary list which was refined by discussions and literature searches. The refined list was recast as a questionnaire which was sent to a substantial portion of the utility industry in this country. Forty-three questionnaire recipients responded including thirty-two utilities. A workshop was held to develop a revised requirements list using the survey responses as a major input. The list prepared by the workshop was further refined by a panel consisting of vice presidents of the three project team firms. The results of the study indicate that in addition to considering the cost of energy for a power plant, utilities consider twenty-three other requirements. Four of the requirements were judged to be vital to plant acceptability: Plant Capital Cost, Financial Liability, Plant Safety and Licensability

12 CFR 5.47 - Subordinated debt as capital.

Science.gov (United States)

2010-01-01

... compliance concern, or raises a significant legal or policy issue. (ii) Tier 2 and Tier 3 capital. When the... 12 Banks and Banking 1 2010-01-01 2010-01-01 false Subordinated debt as capital. 5.47 Section 5.47... capital. (a) Authority. 12 U.S.C. 93a. (b) Licensing requirements. A national bank does not need prior OCC...

Preliminary Development of a Work Breakdown Structure (WBS) for Small Modular Reactors (SMRs)

Energy Technology Data Exchange (ETDEWEB)

Harrison, Thomas J [ORNL; Moses, Rebecca J [ORNL; Flanagan, George F [ORNL

2014-10-01

In summary, this preliminary WBS serves as an initial basis for the capital cost component of the economic analysis of SMRs. This preliminary WBS comes from the known WBS for existing, large nuclear power plants and develops the methodology for accounting for the anticipated differences between the current large plants and the projected SMR designs.

A study on effects of cost-of-equity models on cost-of-capital and capital structure

Directory of Open Access Journals (Sweden)

Meysam Arabzadeh

2012-10-01

Full Text Available Most financial managers believe that there are different factors hindering decision-making about the capital structure of a company. This hindrance is so that, in some financial management literatures capital structure is called the mystery of capital. Financial managers widely believe that financial leverage enjoys a noticeable status in managerial decision making as well as management of the framework of balance sheet. The primary purpose of this research is to present applications of equity modules and to study effective factors on such models on Tehran stock exchange. The study covers data over a period of five years from 2001 to 2005. The study analyzes and tests relevant data to firm’s debt ratio and corporate size as effective factors on cost-of-equity. The preliminary findings indicate that contrary to the commonly held belief in financial management theorems, debts ratio has the least effect on cost-of-equity. Nevertheless, the study suggests that the variant of company’s size has a meaningful relationship with cost-of-equity. To calculate cost-of-equity, CAPM, Gordon and return ratio methods are used. Findings show that CAPM has more validity compared with other varieties. On the other hand, the results indicate that there is a 95-percent probability proving that liquidity has a significant negative effect on financial leverage.

A contemporary perspective on capitated reimbursement for imaging services.

Science.gov (United States)

Schwartz, H W

1995-01-01

Capitation ensures predictability of healthcare costs, requires acceptance of a premium in return for providing all required medical services and defines the actual dollar amount paid to a physician or hospital on a per member per month basis for a service or group of services. Capitation is expected to dramatically affect the marketplace in the near future, as private enterprise demands lower, more stable healthcare costs. Capitation requires detailed quantitative and financial data, including: eligibility and benefits determination, encounter processing, referral management, claims processing, case management, physician compensation, insurance management functions, outcomes reporting, performance management and cost accounting. It is important to understand actuarial risk and capitation marketing when considering a capitation contract. Also, capitated payment methodologies may vary to include modified fee-for-service, incentive pay, risk pool redistributions, merit, or a combination. Risk is directly related to the ability to predict utilization and unit cost of imaging services provided to a specific insured population. In capitated environments, radiologists will have even less control over referrals than they have today and will serve many more "covered lives"; long-term relationships with referring physicians will continue to evaporate; and services will be provided under exclusive, multi-year contracts. In addition to intensified use of technology for image transfer, telecommunications and sophisticated data processing and tracking systems, imaging departments must continue to provide the greatest amount of appropriate diagnostic information in a timely fashion at the lowest feasible cost and risk to the patient.

12 CFR 567.6 - Risk-based capital credit risk-weight categories.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Risk-based capital credit risk-weight... CAPITAL Regulatory Capital Requirements § 567.6 Risk-based capital credit risk-weight categories. (a) Risk...)(2) of this section), plus risk-weighted recourse obligations, direct credit substitutes, and certain...

Commercial Banks and Capital Regulation in the Early 20th Century US

OpenAIRE

Gou, Michael

2017-01-01

My dissertation investigates the effect of capital requirements on commercial banks and the impact of commercial bank suspensions on the United States economy during the early 20th century. The first chapter examines the effect of capital requirements on bank stability. The early 20th century United States provides an opportunity to determine whether imposing capital requirements on commercial banks promotes banking stability in the long run. The structure of the national banking system fac...

THE TRANSPARENCY IN THE REPORTING OF INTELLECTUAL CAPITAL: BETWEEN THE MANAGEMENT RESPONSIBILITY AND THE STAKEHOLDERS' REQUIREMENTS

Directory of Open Access Journals (Sweden)

Dicu Roxana-Manuela

2011-07-01

Full Text Available The increasingly ample orientation of the companies towards the intellectual capital is based on the rediscovery of this resource with (almost unlimited potential, generating economic benefits for a company. Given its importance, the information needs of stakeholders on this line have increased. Thus, in this context, it was put the issue of reporting information related to intellectual capital and the transparency of information published by companies, given that its reporting is not currently regulated. The objective of this paper is to establish an answer to a question: Up to what limit should be made public information related to this capital, given that stakeholders want as much information, and managers only publish information that favors the company's image? In addressing this issue, the point of departure is the intellectual capital structure, most commonly found in the literature, namely human capital, structural capital and relational capital. With this structure, the paper establishes, as a first step, a series of relevant indicators relating to the three components from three different perspectives: resources, management achievements and future expectations. At first observation, the indicators are divided into two categories: financial and non-financial, the first ones targeting the company's performance in relation to the components of intellectual capital, and the latter ones having a pronounced social touch. Based on these indicators, the paper analyses whether a company is willing to publish information, particularly those with social influence, especially in the current conditions of intensely requested social responsibility. In addition to documentary research, we also consider the most important findings based on existing reporting arrangements of the companies, especially from the reports published by them, depending on different criteria, such as social engagement, financial and accounting criteria etc. Given the lack of

Comparison and Association of Intellectual Capital: An Investigation and Measurement of the Value of Intellectual Capital Assets and Their Contribution to Stakeholder Perception within the Framework of Higher Education

Science.gov (United States)

Helm Stevens, Roxanne

2011-01-01

PROBLEM: Many of the preliminary approaches to strategic management of intellectual capital or knowledge assets have not been attempted in the not-for-profit arena. Additionally, because there is no marketplace value for not-for-profit firms or a valuation system for intangible assets, the identification and measurement necessary for efficient and…

ORGANIZATIONAL CAPITAL IN ENTERPRISE ARCHITECTURE

Directory of Open Access Journals (Sweden)

Kirill G. Skripkin

2016-01-01

Full Text Available The paper describes a new approach to the description of organizational capital in enterprise architecture. This approach is focused on internal consistency of organizational mechanisms and their fit to the requirements of technologies in use and key employees. The description rests on Henry Mintzberg organizational design theory. The value of this description is demonstrated for the case of influence of Ministry of Education and Science policy on the organizational capital of the Russian university.

INSURANCE AND THE CORPORATE COST OF CAPITAL

Directory of Open Access Journals (Sweden)

Monika Wieczorek-Kosmala

2012-04-01

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

The Determinants of Capital Structure: Some Evidence from Banks

OpenAIRE

Heider, Florian; Gropp, Reint

2008-01-01

This paper documents that standard cross-sectional determinants of firm leverage also apply to the capital structure of large banks in the United States and Europe. We find a remarkable consistency in sign, significance and economic magnitude. Like non-financial firms, banks appear to have stable capital structures at levels that are specific to each individual bank. The results suggest that capital requirements may only be of second-order importance for banks’ capital structures and confirm ...

Managing intellectual capital in libraries beyond the balance sheet

CERN Document Server

Kostagiolas, Petros

2012-01-01

In the knowledge economy, professionals have to make decisions about non-tangible, non-monetary, and largely invisible resources. Information professionals need to understand the potential uses, contributions, value, structure, and creation of broadly intangible intellectual capital in libraries. In order to fully realize intellectual capital in libraries, new practices and skills are required for library management practitioners and researchers.Managing Intellectual Capital in Libraries provides research advances, guidelines, methods and techniques for managing intellectual capital in a libra

Implementing the countercyclical capital buffer in South Africa: Practical considerations

OpenAIRE

Pravin Burra; Pieter Juriaan de Jongh; Helgard Raubenheimer; Gary van Vuuren; Henco Wiid

2015-01-01

The Basel II regulatory framework significantly increased the resilience of the banking system, but proved ineffective in preventing the 2008/9 financial crisis. The subsequent introduction of Basel III aimed, inter alia, to supplement bank capital using buffers. The countercyclical buffer boosts existing minimum capital requirements when systemic risk surges are detected. Bolstering capital in favourable economic conditions cushions losses in unfavourable conditions, thereby addressing capit...

Intellectual Capital.

Science.gov (United States)

Snyder, Herbert W.; Pierce, Jennifer Burek

2002-01-01

This review focuses on intellectual capital and its relationship to information professionals. Discusses asset recognition; national practices and the acceptance of intellectual capital; definitions of intellectual capital; measuring intellectual capital, including multiple and single variable measures; managing intellectual capital; and knowledge…

Access to capital--a growing concern.

Science.gov (United States)

Carlson, Donald A

2004-01-01

Access to capital over the next ten years will be one of the biggest challenges healthcare organizations will face as they strive to remain competitive and serve their communities. Meeting the growing needs for capital will require a disciplined and honest assessment of the capital sources that will be available and the best ways of positioning an organization to maximize their uses. It is incumbent on chief executive officers and other senior leaders to create a disciplined process for allocating capital and conveying how that process will be linked to the organization's strategic plan. All of the credit constituencies "buying" healthcare need to fully understand how the organization is positioning itself for future growth and success, and detailed bond marketing plans need to be implemented well before the actual sale of a new bond issue. Large and small healthcare providers will have sufficient access to capital in the future if investors believe that senior hospital executives have a credible plan and are disciplined enough to execute it.

Capital investment requirements in the West German energy economy and its financing

Energy Technology Data Exchange (ETDEWEB)

Diel, R; Radtke, G; Stoessel, R

1980-01-01

An analysis of the order of magnitude of capital investment required in the West German energy sector in the next two decades is based on reserve, production, and consumption statistics of the 10th World Energy Conference, the Chase Manhattan Bank and a 4% inflation rate, and shows requirements of DM22 billion for 1980-85, DM52 billion for 1980-90, and DM150 billion for 1980-2000 for exploration, production, and gasification of bituminous coal; DM21.7 billion or DM33.8 billion for 1980-2000 for lignite, depending on the use of the lignite for direct electricity generation or for gasification with nuclear process heat; DM2.8 billion and DM3.0 billion for expansion and conversion of petroleum-refining capacity for 1980-90 and 1991-2000, respectively; DM75-DM90 billion for exploration and production to maintain the present oil and natural gas production level in 1980-2000; DM70 billion for the transport and distribution of natural gas in 1980-2000; DM88.4 billion for coal and nuclear power-generation plants and DM59 billion for the distribution network to 1990; and DM48 billion for regenerative energy sources to 2000. The financing structure is also discussed.

Indeterminacy and Business Fluctuations under Partial Capital Mobility

Directory of Open Access Journals (Sweden)

Jongkyou Jeon

2008-12-01

Full Text Available The paper examines a modified real business cycle model of a small open economy such as the Korean economy. The model economy is assumed to produce output with two types of capital: traded capital and non¡ⓒtraded capital. Domestic individuals can borrow from the world capital market only by using traded capital as collateral, and investment in non¡ⓒtraded capital must be financed by domestic savings. It implies that the capital mobility is partial rather than perfect although domestic residents have free access to the world capital market. By incorporating externalities into the production technology, the model economy is able to generate dynamic path of equilibrium time series solely driven by non¡ⓒfundamental shocks such as animal spirits of investors or self¡ⓒfulfilling expectations if the ratio of traded capital to total capital is sufficiently high. The paper shows that the second moment properties of the Korean aggregate data could be reproduced in a modified real business cycle framework where fluctuations are driven only by non¡ⓒfundamental shocks, not by the disturbances to economic fundamentals such as technology. This requires a high value of traded capital relative to total capital, which means that the domestic capital market must be highly integrated with the world capital market. It implies that there exists some critical level of capital mobility beyond which the business cycles of an open economy becomes highly vulnerable to non¡ⓒfundamental shocks such as self¡ⓒfulfilling expectations.

76 FR 12611 - Risk-Based Capital Standards: Advanced Capital Adequacy Framework-Basel II; Establishment of a...

Science.gov (United States)

2011-03-08

... necessary to calculate its required minimum risk-based capital requirements under both the general risk... to the advanced approaches rules must calculate and compare its minimum tier 1 and total risk-based... sector of the economy, productivity, competition, jobs, the environment, public health or safety, or...

CSR, SMEs and Social Capital

DEFF Research Database (Denmark)

Murillo, David; Vallentin, Steen

2012-01-01

capital are interrelated, turning social capital into a powerful instrument to better explain what academic literature has called silent CSR practices. The analysis that follows questions some of the basic tenets that underpin the branch of business ethics that deals with the nature of SMEs' approach...... this type of action d) Any study of this kind of practice requires a dual approach: a) normative when using tools developed by CSR; and b) descriptive and instrumental using the notion of social capital....... in the automotive sector, took the distinctive approach of trying to understand the nature of CSR-like activities developed not by best-in-class CSR-driven companies but by purely competitiveness-driven firms. The case studies provide explicit evidence that the CSR activities of SMEs and the notion of social...

THE EFFECT OF HUMAN CAPITAL ON SOCIAL CAPITAL AMONG ENTREPRENEURS

OpenAIRE

HANNES OTTÓSSON; KIM KLYVER

2010-01-01

Using data collected from 714 entrepreneurs in a random sample of 10,000 Danes, this study provides an investigation of the effect of human capital on social capital among entrepreneurs. Previous entrepreneurship research has extensively investigated the separated effect of human capital and social capital on different entrepreneurial outputs. The study takes a step back and investigates how these two capital concepts are related — specifically how human capital influences social capital. In ...

Utilization of cellulosic materials through enzymic hydrolysis. 11. Preliminary assessment of an integrated processing scheme

Energy Technology Data Exchange (ETDEWEB)

Wilke, C R; Cysewski, G R; Yang, R D

1976-01-01

An integrated processing scheme is described for the conversion of a cellulose waste (newsprint) to sugars by enzymic hydrolysis and then to ethanol and yeast by fermentation. The unconverted solids are burned to produce process energy requirements and surplus electric power. With the preliminary design at an estimate total capital investment of $33.4 x 10/sup 6/, 95% ethanol may be produced FOB (free on board) the plant for approx.61 cents/gal, assuming zero cost for cellulosic feed; taking into account interest rates and taxes and a cellulose feed cost of $20/ton the figure becomes $1.67/gal.

Green Capital: Student Capital student-led evaluation

OpenAIRE

Runkle, Q.; Haines, T.; Piper, K.; Leach, S.

2016-01-01

To assess and evaluate the impact of the Green Capital: Student Capital project, the partnership (the University of the West of England, the University of Bristol, the Students’ Union at UWE, and Bristol Students’ Union) worked with NUS to train a team of students from both universities to lead an evaluation process. There were two key aims for the evaluation: \\ud \\ud • To verify the quantitative outputs of the Green Capital: Student Capital project; \\ud • And to make a qualitative assessment...

Fueling innovation in medical devices (and beyond): venture capital in health care.

Science.gov (United States)

Ackerly, D Clay; Valverde, Ana M; Diener, Lawrence W; Dossary, Kristin L; Schulman, Kevin A

2009-01-01

Innovation in health care requires new ideas and the capital to develop and commercialize those ideas into products or services. The necessary capital is often "venture capital," but the link between public policy and the venture capital industry has not been well examined. In this paper we explore the link between venture capital and innovation in health care, and we present new descriptive data from a survey of health care venture capital fund managers. Respondents generally viewed policy levers (for example, reimbursement and regulations) as important risks to venture capital investments, potentially affecting their ability to raise capital for early-stage investment funds.

Triads of capital

DEFF Research Database (Denmark)

Svendsen, Gunnar Lind Haase

of capital means a coherent stock of capital, including social, cultural and physical capital, which belongs to a local community. The case of civic organization in rural Denmark 1800-1900 shows how the three capitals successively acted as driving forces: physical capital about year 1800, social capital...... about year 1880, and cultural capital about year 1900. In each case, one form of capital changed the two others in a chain reaction process, which ultimately led to a major reorganization of the triads of capital in the local rural communities....

Implementing the countercyclical capital buffer in South Africa: Practical considerations

Directory of Open Access Journals (Sweden)

Pravin Burra

2015-03-01

Full Text Available The Basel II regulatory framework significantly increased the resilience of the banking system, but proved ineffective in preventing the 2008/9 financial crisis. The subsequent introduction of Basel III aimed, inter alia, to supplement bank capital using buffers. The countercyclical buffer boosts existing minimum capital requirements when systemic risk surges are detected. Bolstering capital in favourable economic conditions cushions losses in unfavourable conditions, thereby addressing capital requirement procyclicality. This paper contains an overview of the countercyclical capital buffer and a critical discussion of its implementation as proposed in Basel III. Consequences of the buffer's introduction for South African banks are explored, and in particular, potential systemic risk indicator variables are identified that may be used by the South African Reserve Bank (SARB as early warning indicators of imminent systemic financial distress. These indicators may be of value to the SARB, which could use them in taking decisions on the build-up and release of the countercyclical buffer for South African banks.

Intellectual Capital

DEFF Research Database (Denmark)

Bukh, Per Nikolaj; Christensen, Karina Skovvang

2015-01-01

Intellectual capital (IC) consists of human capital, organizational capital, and relational capital, and their relationships. It has been said to be important to explain the difference between market value and book value of a firm, but measurement of IC is more likely to be important because...

Bank Size, Risk-taking and Capital Regulation in Bangladesh

Directory of Open Access Journals (Sweden)

Mohammad M. RAHMAN

2015-05-01

Full Text Available This study examines the impact of bank size on bank regulatory capital ratios and risk-taking behavior using a panel dataset of 30 Bangladeshi commercial banks over the period 2008-2012. The relationship between bank regulatory capital ratios and bank risk-taking is also examined. For empirical analysis, generalized methods of moments (GMM panel method are used to explore the relationships among bank size, regulatory capital ratios and risk-taking behavior. Empirical results show that large banks hold lower amount of capital and take higher level of risk. Findings also show a reverse relationship between bank capital levels and bank risk-taking; that is, banks holding higher levels of regulatory capital are significantly less risky. Findings of this study has important implications for the Bangladeshi government, policy makers, banking regulators and bank stakeholders regarding bank size, regulatory capital requirements and overall banking sector risk-taking behavior.

An Investigation of the Relationship between Capital Levels and the ...

African Journals Online (AJOL)

Siphambe H (Prof)

The paper therefore seeks to establish the relationship between capital levels and ... Thus an increase in capital requirements will not affect banks' ..... competitive products and services to customers with the end result being increased ...

12 CFR 1229.5 - Capital distributions for adequately capitalized Banks.

Science.gov (United States)

2010-01-01

... capitalized Banks. 1229.5 Section 1229.5 Banks and Banking FEDERAL HOUSING FINANCE AGENCY ENTITY REGULATIONS CAPITAL CLASSIFICATIONS AND PROMPT CORRECTIVE ACTION Federal Home Loan Banks § 1229.5 Capital... classification of adequately capitalized. A Bank may not make a capital distribution if such distribution would...

13 CFR 107.1830 - Licensee's Capital Impairment-definition and general requirements.

Science.gov (United States)

2010-01-01

... and the Capital Impairment regulations in this part in effect when you issued your Leverage. For all... ADMINISTRATION SMALL BUSINESS INVESTMENT COMPANIES Licensee's Noncompliance With Terms of Leverage Computation of.... (a) Applicability of this section. This section applies to Leverage issued on or after April 25, 1994...

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.

Approaches of Russian oil companies to optimal capital structure

Science.gov (United States)

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

2015-11-01

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

Do capital buffers mitigate volatility of bank lending? A simulation study

OpenAIRE

Heid, Frank; Krüger, Ulrich

2011-01-01

Critics claim that capital requirements can exacerbate credit cycles by restricting lending in an economic downturn. The introduction of Basel 2, in particular, has led to concerns that risksensitive capital charges are highly correlated with the business cycle. The Basel Committee is contemplating a revision of the Basel Accord by introducing counter-cyclical capital buffers. Others claim that capital buffers are already large enough to absorb fluctuations in credit risk. We address the ques...

Net Operating Working Capital, Capital Budgeting, and Cash Budgets: A Teaching Example

Science.gov (United States)

Tuner, James A.

2016-01-01

Many introductory finance texts present information on the capital budgeting process, including estimation of project cash flows. Typically, estimation of project cash flows begins with a calculation of net income. Getting from net income to cash flows requires accounting for non-cash items such as depreciation. Also important is the effect of…

26 CFR 1.851-6 - Investment companies furnishing capital to development corporations.

Science.gov (United States)

2010-04-01

... 26 Internal Revenue 9 2010-04-01 2010-04-01 false Investment companies furnishing capital to... Investment Trusts § 1.851-6 Investment companies furnishing capital to development corporations. (a) Qualifying requirements. (1) In the case of a regulated investment company which furnishes capital to...

Reporting on intellectual capital

NARCIS (Netherlands)

Meer-Kooistra, Jeltje van der; Zijlstra, Siebren M.

2001-01-01

In today’s knowledge-based economy intellectual capital (IC) is becoming a major part of companies’ value. Being able to manage and control IC requires that companies can identify, measure and report internally on IC. As financial accounting rules ban full disclosure of IC in the annual report the

THE FORMATION OF A CAPITAL INVESTMENT PROJECT INDUSTRIAL ENTERPRISES

Directory of Open Access Journals (Sweden)

Y. S. Potashnik

2015-01-01

Full Text Available The article specifies the main sources of financing of investment projects of industrial enterprises, among which are proposed to distinguish between belonging to the participants (shareholders of the company and others. Shows the sequence and content of the steps in building the industrial enterprises of a specific capital investment project. The main requirements for the capital structure of the investment project. As such invited to consider the requirements for the financial feasibility of the project, minimize the cost of capital of the project, the need for additional investments and changes of property shares members of the company, and not exceeding the maximum level of the probability of occurrence of insolvency of the enterprise. The approach allowing to assess the adequacy of the probability of occurrence of insolvency of the enterprise in one way or another the capital structure of the project the maximum allowable (limit level. The methodical examples of basic calculations.

South Korea's Experience with International Capital Flows

OpenAIRE

Marcus Noland

2005-01-01

South Korea%u2019s experience is unparalleled in its combination of sustained prosperity, capital controls, and financial crisis. Over several decades, South Korea experienced rapid sustained growth in the presence of capital controls. These controls and the de-linking of domestic and international financial markets were an essential component of the country's state-led development strategy. As the country developed, opportunities for easy technological catch-up eroded, requiring more sophist...

REVIEW: Towards a risk register for natural capital.

Science.gov (United States)

Mace, Georgina M; Hails, Rosemary S; Cryle, Philip; Harlow, Julian; Clarke, Stewart J

2015-06-01

Natural capital is essential for goods and services on which people depend. Yet pressures on the environment mean that natural capital assets are continuing to decline and degrade, putting such benefits at risk. Systematic monitoring of natural assets is a major challenge that could be both unaffordable and unmanageable without a way to focus efforts. Here we introduce a simple approach, based on the commonly used management tool of a risk register, to highlight natural assets whose condition places benefits at risk.We undertake a preliminary assessment using a risk register for natural capital assets in the UK based solely on existing information. The status and trends of natural capital assets are assessed using asset-benefit relationships for ten kinds of benefits (food, fibre (timber), energy, aesthetics, freshwater (quality), recreation, clean air, wildlife, hazard protection and equable climate) across eight broad habitat types in the UK based on three dimensions of natural capital within each of the habitat types (quality, quantity and spatial configuration). We estimate the status and trends of benefits relative to societal targets using existing regulatory limits and policy commitments, and allocate scores of high, medium or low risk to asset-benefit relationships that are both subject to management and of concern.The risk register approach reveals substantial gaps in knowledge about asset-benefit relationships which limit the scope and rigour of the assessment (especially for marine and urban habitats). Nevertheless, we find strong indications that certain assets (in freshwater, mountain, moors and heathland habitats) are at high risk in relation to their ability to sustain certain benefits (especially freshwater, wildlife and climate regulation). Synthesis and applications . With directed data gathering, especially to monitor trends, improve metrics related to asset-benefit relationships, and improve understanding of nonlinearities and thresholds, the

THE CAPITAL STRUCTURE OF VENTURE CAPITAL FIRMS IN INDONESIA

Directory of Open Access Journals (Sweden)

Andi Buchari

2016-10-01

Full Text Available Venture capital (VC is an important fund source for small and medium enterprises (SMEs and start up, particularly to deliver its main product of equity participation. Therefore, capital structure and factors that affect it are very crucial. This study aims to analyze the capital structure of VC firms in Indonesia using econometric model of panel data regression. This study utilizes secondary data of six years period (2009-2014 monthly financial statements of 27 samples out of 58 VC firms to form 1,944 observations. The study reveals that capital structure of VC firms in Indonesia is dominated by debt/loan rather than capital with DER on average is 136.95%. In addition, the research confirms that VC firms’ capital structure is affected simultaneously by financial aspects which are asset size, profitability, liquidity, asset/investment quality, and earning asset structure. The attentions to financial aspects that affect the VC firms’ capital structure as well as other initiatives related to capital increases are necessary so that the VC firms could carry out its role effectively.

Reaping benefits from intellectual capital.

Science.gov (United States)

Weston, Marla J; Estrada, Nicolette A; Carrington, Jane

2007-01-01

The wealth and value of organizations are increasingly based on intellectual capital. Although acquiring talented individuals and investing in employee learning adds value to the organization, reaping the benefits of intellectual capital involves translating the wisdom of employees into reusable and sustained actions. This requires a culture that creates employee commitment, encourages learning, fosters sharing, and involves employees in decision making. An infrastructure to recognize and embed promising and best practices through social networks, evidence-based practice, customization of innovations, and use of information technology results in increased productivity, stronger financial performance, better patient outcomes, and greater employee and customer satisfaction.

Pension fund's illiquid assets allocation under liquidity and capital constraints

NARCIS (Netherlands)

Broeders, Dirk; Jansen, Kristy; Werker, Bas

2017-01-01

This paper empirically assesses the impact of liquidity and capital constraints on the allocation of defined benefit pension funds to illiquid assets. Liquidity constraints result from short-term pension payments and collateral requirements on derivatives. Capital constraints follow from the

Epochality, Global Capitalism and Ecology

Directory of Open Access Journals (Sweden)

Wayne Hope

2018-05-01

Full Text Available What type of capitalism do we live in today? My answer to this question draws upon two interrelated lines of argument. Firstly, I will argue that we inhabit an epoch of global capitalism. The precursors of this kind of capitalism originated from the late nineteenth century when the development of telegraph networks, modern transport systems and world time zones provided a global template for industrialisation and Western imperialism. From about 1980 a confluence of global events and processes bought a fully-fledged global capitalism into being. These included the collapse of Fordist Keynesianism, national Keynesianism and Soviet Communism along with First, Second and Third World demarcations; the international proliferation of neo-liberal policy regimes; the growth of transnational corporations in all economic sectors; the predominance of financialisation and the reconstitution of global workforces. Secondly, I will argue that the shift from organic surface energy to underground fossil energy intertwined the time of the earth with the time of human history as nature was being instrumentalised as a resource for humanity. Understanding the capitalist relations of power involved here requires that we rethink the emergence of industrial capitalism in the historical context of a world system built upon unequal socio-ecological exchange between core and periphery. Today, global capitalism has intensified the anthropogenic feedback loops associated with CO2 emissions and climate change and universalised the organisational frameworks of profit extraction and socio-ecological destruction. I refer here to the transnational systems of fossil fuel capitalism along with their interlinkages with financialisation and advertising/commodity fetishism. From the preceding lines of argument I will briefly outline the intra-capitalist and planetary-ecological crises out of which transnational coalitions of opposition might emerge.

Thin Capitalization Rules and Multinational Firm Capital Structure

NARCIS (Netherlands)

Blouin, J.; Huizinga, H.P.; Laeven, L.; Nicodeme, G.

2014-01-01

Abstract: This paper examines the impact of thin capitalization rules that limit the tax deductibility of interest on the capital structure of the foreign affiliates of US multinationals. We construct a new data set on thin capitalization rules in 54 countries for the period 1982-2004. Using

On the capitalization and cultivation of social capital

DEFF Research Database (Denmark)

Waldstrøm, Christian; Svendsen, Gunnar Lind Haase

2008-01-01

a dual focus on social capital as both immediately and potentially productive resources, i.e. assets that can be immediately capitalized by individuals as well as ‘cultivated' for future use. We argue that to further operationalize this concept we must distinguish between actual/potential social capital...

Access to capital: implications for hospital consolidation.

Science.gov (United States)

Grauman, Daniel M; Harris, John M; Martin, Christine

2010-04-01

Recent economic challenges have left many independent hospitals and their boards concerned about long-term viability of their organizations as stand-alone facilities. The CFO's role should be to facilitate a candid, objective assessment of the organization's ability to continue to go it alone. Key indicators that should be considered in such an assessment include patient volume, degree of physician alignment, profitability, current debt burden, cash, available capital versus capital requirements, and credit rating changes.

Capital mobility, tax competition, and lobbying for redistributive capital taxation

OpenAIRE

Lorz, Jens Oliver

1996-01-01

This paper analyzes the impact of international capital mobility on redistributive capital taxation and on lobbying activities by interest groups. It employs a model where different capital endowments lead to a conflict between households concerning their most preferred capital tax rate. Three main results are derived: First, redistributive source based capital taxes or subsidies decline as international tax competition intensifies. Second, lobbying activities of certain interest groups may e...

Human Capital Quality and Development: An Employers' and Employees' Comparative Insight

Directory of Open Access Journals (Sweden)

Neagu Olimpia

2016-09-01

Full Text Available The aim of the paper is to compare the employers' and employees' insights on human capital quality defining and human capital development at organisational level, based on a survey carried out in the county of Satu Mare, Romania. Our findings show that as human capital buyers, employers understand by human capital quality professional background and skills, professional behaviour and efficiency and productivity for the organisation. As human capital sellers, for employees human capital quality means health and the ability to learn and to be suitable to the job requirements. Regarding the opportunities to develop the organisational human capital, the views of employers and employees are very different when the level of discussion is international (macro-level. Employees consider that the international environment has a greater impact on human capital development in their organisation as the employers.

12 CFR 652.100 - Audit of the risk-based capital stress test.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Audit of the risk-based capital stress test... AGRICULTURAL MORTGAGE CORPORATION FUNDING AND FISCAL AFFAIRS Risk-Based Capital Requirements § 652.100 Audit of the risk-based capital stress test. You must have a qualified, independent external auditor review...

Making big communities small: using network science to understand the ecological and behavioral requirements for community social capital.

Science.gov (United States)

Neal, Zachary

2015-06-01

The concept of social capital is becoming increasingly common in community psychology and elsewhere. However, the multiple conceptual and operational definitions of social capital challenge its utility as a theoretical tool. The goals of this paper are to clarify two forms of social capital (bridging and bonding), explicitly link them to the structural characteristics of small world networks, and explore the behavioral and ecological prerequisites of its formation. First, I use the tools of network science and specifically the concept of small-world networks to clarify what patterns of social relationships are likely to facilitate social capital formation. Second, I use an agent-based model to explore how different ecological characteristics (diversity and segregation) and behavioral tendencies (homophily and proximity) impact communities' potential for developing social capital. The results suggest diverse communities have the greatest potential to develop community social capital, and that segregation moderates the effects that the behavioral tendencies of homophily and proximity have on community social capital. The discussion highlights how these findings provide community-based researchers with both a deeper understanding of the contextual constraints with which they must contend, and a useful tool for targeting their efforts in communities with the greatest need or greatest potential.

Seeding Social Capital? Urban Community Gardening and Social Capital

DEFF Research Database (Denmark)

Christensen, Søren

2017-01-01

There is a continuing debate regarding urban community gardening’s benefits to local communities, and a particularly interesting branch of this debate has focused on community gardens capacity to encourage and facilitate social interaction, which may generate social capital. Social capital...... is an increasingly important concept in international research and measures of social capital have been associated with various measures of health. In a meta-analysis of literature published between 2000 and 2016 regarding community gardens’ social advantages, through the lens of the concept of social capital......, it is demonstrated that several studies substantiate that urban community gardens create social capital, both bonding and bridging, and exhibit indications of linking. It is moreover identified how there is much to be learned from future research, illuminating how urban community gardens can foster social capital...

Rethinking the economics of capital mobility and capital controls

Directory of Open Access Journals (Sweden)

Thomas I. Palley

2009-09-01

Full Text Available This paper reexamines the issue of international financial capital mobility, which is today's economic orthodoxy. Discussion is often framed in terms of the impossible trinity. That framing distorts discussion by representing capital mobility as having equal significance with sovereign monetary policy and control over exchange rates. It also distorts discussion by ignoring possibilities for coordinated monetary policy and exchange rates, and for managed capital flows. The case for capital mobility rests on neo-classical economic efficiency arguments and neo-liberal political arguments. The case against capital mobility is based on Keynesian macroeconomic inefficiency arguments, neo-Walrasian market failure arguments, and neo-Marxian arguments regarding distortion of the social structure of accumulation. Close examination shows the case for capital mobility to be extremely flimsy, pointing to the ideological dimension behind today's policy orthodoxy.

Bridges in social capital: a review of the definitions and the social capital of social capital researchers

OpenAIRE

Akcomak, S.

2009-01-01

There has been a recent surge of interest in social economics and social capital. Articles on social capital that are published in the last five years constitute more than 60 percent of all articles on social capital. Research on social capital is now massive and spans sociology, economics, management, political science and health sciences. Despite this interest there is still not a consensus on the definition and the measurement of social capital. This paper argues that this is due to lack o...

The Continuing Relevance of the Marxist Tradition for Transcending Capitalism

Directory of Open Access Journals (Sweden)

Erik Olin Wright

2018-05-01

Full Text Available No idea is more closely associated with Marx than the claim that the intrinsic, contradictory dynamics of capitalism ultimately lead to its self-destruction while simultaneously creating conditions favourable for a revolutionary rupture needed to create an emancipatory alternative in which the control by the capitalist class of investments and production is displaced by radical economic democracy. Marx’s formulation of a theory of transcending capitalism is unsatisfactory for two main reasons: 1 the dynamics of capitalism may generate great harms, but they do not inherently make capitalism unsustainable nor do they generate the structural foundations of a collective actor with a capacity to overthrow capitalism; 2 the vision of a system-level rupture with capitalism is not a plausible strategy replacing capitalism by a democratic-egalitarian economic system. Nevertheless, there are four central propositions anchored in the Marxist tradition that remain essential for understanding the possibility of transcending capitalism: 1. Capitalism obstructs the realization of conditions for human flourishing. 2. Another world is possible. 3. Capitalism’s dynamics are intrinsically contradictory. 4. Emancipatory transformation requires popular mobilization and struggle. These four propositions can underwrite a strategic vision of eroding the dominance of capitalism by building democratic-egalitarian economic relations within the contradictory spaces of capitalism.

The Role of Regulatory Pressure in Banks’ Capital and Risk Decisions

Directory of Open Access Journals (Sweden)

Alessandra Tanda

2015-06-01

Full Text Available Capital regulation represents the core of prudential regulation in banking. Despite the aim of the regulators to have a safer and more robust banking industry, the effects of capital regulation on banks’ capital and risk decisions appear ambiguous. The paper analyses the relationship between capital and risk changes and the impact of regulatory pressure for a sample of European banks during the period 2006–2010, which encompasses the start of the latest financial crisis. Results highlight that banks tend to adopt a different behaviour depending on the capital ratio considered, supporting the so-called ‘gamble for resurrection’ hypothesis. Evidence supports the rethinking of the regulatory framework, especially with reference to higher and stricter capital requirements.

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

Directory of Open Access Journals (Sweden)

Juan Carlos Gutiérrez Betancur

2009-12-01

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

Islamic Banking Capital Challenges to Increase Business Expansion (Indonesia Cases)

OpenAIRE

Lucky Nugroho; Wiwik Utami; Caturida Meiwanto Doktorlina; Soeharjoto Soekapdjo; Tengku Chandra Husnadi

2017-01-01

In the case of Indonesia regarding capital sources in Islamic Banks, all Islamic Banks are subsidiaries of Conventional Banks (except Bank Muamalat). Bank Syariah Mandiri which is the only Islamic Bank that meets capital ownership with Business Category Bank Level III (BUKU III) is also a subsidiary of Bank Mandiri (conventional bank). In the same way, conventional banks become essential to meet the capital requirement to improve the business of Islamic Bank. This article aims to determine th...

The Impact of Capital Structure on Economic Capital and Risk Adjusted Performance

OpenAIRE

Porteous, Bruce; Tapadar, Pradip

2008-01-01

The impact that capital structure and capital asset allocation have on financial services firm economic capital and risk adjusted performance is considered. A stochastic modelling approach is used in conjunction with banking and insurance examples. It is demonstrated that gearing up Tier 1 capital with Tier 2 capital can be in the interests of bank Tier 1 capital providers, but may not always be so for insurance Tier 1 capital providers. It is also shown that, by allocating a bank or insuranc...

Capital Market Implications of Corporate Disclosure: German Evidence

Directory of Open Access Journals (Sweden)

Michael Grüning

2011-04-01

Full Text Available This paper investigates the relationship between annual report disclosure, market liquidity, and capital cost for firms registered on the Deutsche Börse. Disclosure is comprehensively measured using the innovative Artificial Intelligence Measurement of Disclosure (AIMD. Results show that annual report disclosure enhances market liquidity by changing investors’ expectations and inducing portfolio adjustments. Trading frictions are negatively associated with disclosure. The study provides evidence for a capital-costreduction effect of disclosure based on the analysis of investors’ return requirements and market values. Altogether, no evidence is found that the information processing at the German capital market is structurally different from other markets.

Exploring the Social Capital of Adolescents Who Are Deaf or Hard of Hearing and Their Parents: A Preliminary Investigation

Science.gov (United States)

Wong, Cara L.; Ching, Teresa Y. C.; Whitfield, Jessica; Duncan, Jill

2018-01-01

The study explored the social capital of Australian adolescents who were deaf or hard of hearing (DHH) and their parents, and investigated the relationship between social capital and individual characteristics, language, literacy, and psychosocial outcomes. Sixteen adolescents (ages 11-14 years) and 24 parents enrolled in the Longitudinal Outcomes…

Human Capital and Optimal Positive Taxation of Capital Income

NARCIS (Netherlands)

B. Jacobs (Bas); A.L. Bovenberg (Lans)

2005-01-01

textabstractThis paper analyzes optimal linear taxes on capital and labor incomes in a life-cycle model of human capital investment, financial savings, and labor supply with heteroge- nous individuals. A dual income tax with a positive marginal tax rate on not only labor income but also capital

Participative environmental management and social capital in Poland

DEFF Research Database (Denmark)

Hunka, Agnieszka; De Groot, Wouter T

2011-01-01

with a ubiquitous top-down approach taken by institutional decision-makers. The paper addresses this problem from the perspective of social capital theory. A study of administrative culture and decision-making processes shows the way decisions are currently made. We also propose a way to achieve more participative......Eastern European countries, such as Poland, are often used as exemplary in social capital studies. Upon entering the European Union, the low social capital level in Poland posed problems with implementing new regulations, particularly in the environmental policy field. Environmental issues often...... present a high degree of complexity – and European legislation requires multi-stakeholder involvement in decision-making processes. Thus, the dilemma: on the one hand, there is a demand to engage and consult many actors; on the other hand, low social capital contributes to an administrative culture...

The spread of human capital in the former Soviet Union area in a comparative perspective: Exploring a new dataset

Directory of Open Access Journals (Sweden)

Dmitry Didenko

2013-07-01

The data presented in this paper follow after the discussion of the information value of the primary sources utilised, and the various problems that arose when linking and splicing the data from various sources. After constructing series of human capital indicators we perform a time-series and spatial analysis in order to identify the long-term trends of education penetration and of the human capital development in the FSU area with a strong emphasis on inequality issues between the NIS. Applying these results in a simple growth accounting framework provides us with some preliminary insights on the role of human capital in economic development in the FSU area.

40 CFR 35.3545 - Capitalization grant agreement.

Science.gov (United States)

2010-07-01

... required to determine compliance with section 1452 of the Act. (c) Operating agreement. At the option of a... Fund in accordance with the requirements and objectives of the Act and this subpart. (e) Roles and..., the State must describe the roles and responsibilities of each agency in the capitalization grant...

Impact of individual-level social capital on quality of life among AIDS patients in China.

Directory of Open Access Journals (Sweden)

Ying Ma

Full Text Available BACKGROUND: With growing recognition of the social determinants of health, social capital is an increasingly important construct in international health. However, the application of social capital discourse in response to HIV infection remains preliminary. The aim of this study was to assess the impact of social capital on quality of life (QoL among adult patients with acquired immune deficiency syndrome (AIDS. METHODS: A convenient sample of 283 patients receiving antiretroviral treatment (ART was investigated in Anhui province, China. QoL data were collected using the Medical Outcomes Study HIV Survey (MOS-HIV questionnaire. Social capital was measured using a self-developed questionnaire. Logistic regression models were used to explore associations between social capital and QoL. RESULTS: The study sample had a mean physical health summary (PHS score of 50.13 ± 9.90 and a mean mental health summary (MHS score of 41.64 ± 11.68. Cronbach's α coefficients of the five multi-item scales of social capital ranged from 0.44 to 0.79. When other variables were controlled for, lower individual levels of reciprocity and trust were associated with a greater likelihood of having a poor PHS score (odds ratio [OR] =2.02 or PHS score (OR=6.90. Additionally, the factors of social support and social networks and ties were associated positively with MHS score (OR=2.30, OR=4.17, respectively. CONCLUSIONS: This is the first report to explore the effects of social capital on QoL of AIDS patients in China. The results indicate that social capital is a promising avenue for developing strategies to improve the QoL of AIDS patients in China, suggesting that the contribution of social capital should be fully exploited, especially with enhancement of QoL through social participation. Social capital development policy may be worthy of consideration.

12 CFR 1229.11 - Capital restoration plans.

Science.gov (United States)

2010-01-01

... that the Bank will make to member stock purchase requirements, to assure that it will become adequately... meeting specific goals and benchmarks and taking other actions described in the proposed capital...

THE ROAD OF ROMANIA FROM FRONTIER TOWARDS EMERGING CAPITAL

Directory of Open Access Journals (Sweden)

BELCIC-ŞTEFAN IULIA-OANA

2015-08-01

Full Text Available In the present study I first present the classification system of states by international financial institutions on economic and financial criteria, then focusing on the classification made by Morgan Stanley Capital International. According to it the capital market in Romania is currently a frontier one, the Financial Surveillance Authority pursuing the reclassification as an emerging capital market by August 2016. The findings of the study indicate this term as unrealistic, for several reasons. Thus, curently on the Romanian stock market there are only two entities out of 3 minimum required, respectively S.N.G.N Romgaz and Fondul Proprietatea, which fully meet the size and liquidity requirements imposed by MSCI in order to be reclassified as an emerging capital market. Also it is mandatory making significant progress regarding the effectiveness of the operational framework, progress made to some extent through Project S.T.E.A.M. (Set of actions Towards Establishing and Acknowledgment of the emerging Market status. On this project, after analyzing the degree of completion of the proposed measures in order to reach the primary and secondary objectives, whose deadlines have expired, according to the schedule provided, we found that only 69% of them were fulfilled. Given these considerations I can state that Romania could be reclassified as an emerging capital market at the earliest starting with 2017.

From political capitalism to clientelist capitalism? The case of Croatia

OpenAIRE

Vladimir Cvijanovic; Denis Redzepagic

2011-01-01

The paper analyses the typology of capitalism in Croatia. The Croatian form of capitalism is specific, in form and origin, with links between the pre-independence and post-independence periods, implying that capitalism has gradually evolved – from the political during the eighties towards current clientelistic capitalism. The manufacturing focus aims to facilitate the analysis of institutional, political and economic changes over the past forty years, emphasising the implications of instituti...

Capital Markets, Infrastructure Investment and Growth in the Asia Pacific Region

Directory of Open Access Journals (Sweden)

Michael Regan

2017-02-01

Full Text Available This paper examines the relationship between infrastructure investment activity, capital market development, the role of public institutions and economic development in the Asia Pacific. It adopts a review approach drawing on empirical evidence over recent decades. Infrastructure is shown to be an important asset class playing a central role in a nation’s output, growth, productivity and microeconomic performance. Infrastructure investment also requires investment and predictions of a widening gap in the future supply of infrastructure in the Asia Pacific will require new forms of capital from both traditional and new sources including wider use of private participation, institutional investment, asset recycling and revenue bonds. Capital market development is also necessary to raise long-term local currency finance and evidence suggests that progress with regional capital market integration is slow and a continuing reform agenda is required. The dividend for regional countries is the prospect of higher levels of economic growth with infrastructure investment, capital market development, and foreign direct investment shown to have a strong and positive association with growth. A crucial link in this association identified in the review is the part played by national and regional institutions in improving the efficiency with which infrastructure is managed and providing promising ground for further research where the importance of these links can be researched in greater depth.

The Countercyclical Capital Buffer of Basel III: A Critical Assessment

OpenAIRE

Repullo, Rafael; Saurina, Jesús

2011-01-01

We provide a critical assessment of the countercyclical capital buffer in the new regulatory framework known as Basel III, which is based on the deviation of the creditto- GDP ratio with respect to its trend. We argue that a mechanical application of the buffer would tend to reduce capital requirements when GDP growth is high and increase them when GDP growth is low, so it may end up exacerbating the inherent pro-cyclicality of risk-sensitive bank capital regulation. We also note that Basel I...

Conceptualising Intellectual Capital (IC) as Language Game and Power

DEFF Research Database (Denmark)

Jørgensen, Kenneth Mølbjerg

2006-01-01

Intellectual Capital (IC) can be viewed as knowledge about knowledge, knowledge creation and how such processes might be leveraged into value. Developing a critical understanding of IC requires a historical and contextual understanding of how IC has emerged and how IC is used. This paper, drawing...... this process of social construction. The paper concludes by proposing some methodological guidelines for conducting critical genealogical research on intellectual capital....

Preliminary design study of a large scale graphite oxidation loop

International Nuclear Information System (INIS)

Epel, L.G.; Majeski, S.J.; Schweitzer, D.G.; Sheehan, T.V.

1979-08-01

A preliminary design study of a large scale graphite oxidation loop was performed in order to assess feasibility and to estimate capital costs. The nominal design operates at 50 atmospheres helium and 1800 F with a graphite specimen 30 inches long and 10 inches in diameter. It was determined that a simple single walled design was not practical at this time because of a lack of commercially available thick walled high temperature alloys. Two alternative concepts, at reduced operating pressure, were investigated. Both were found to be readily fabricable to operate at 1800 F and capital cost estimates for these are included. A design concept, which is outside the scope of this study, was briefly considered

12 CFR 932.8 - Minimum liquidity requirements.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Minimum liquidity requirements. 932.8 Section... CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL REQUIREMENTS § 932.8 Minimum liquidity requirements. In addition to meeting the deposit liquidity requirements contained in § 965.3 of this chapter, each Bank...

Reporting Intellectual Capital in Annual Reports: Evidence from Indonesia

Directory of Open Access Journals (Sweden)

Parulian Sihotang

2014-08-01

Full Text Available This  exploratory  study  which  replicates  the  content  analysis  methodology  of  Guthrie et  all  (1999,  2004  towards  Intellectual  Capital  (IC  disclosures  in  the  annual  report  has set  several  objectives.  Primarily,  the  empirical  investigation  assesses  the  extent  to  which Indonesian  listed  companies  are  publicly  reporting  their  IC  both  the  amount  and  type  of information  being  reported.  Secondly,  the  investigation  also  examines  the  extent  to  which the various categories of IC are represented in the annual reports of the sample companies. Finally, the study explores the extent to which the level of IC disclosures could be related to companies' characteristics such as industry category, age, ownership structure and market capitalization.  The sample was Indonesia's 23 largest companies listed in the Jakarta Stock Exchange.    In  light  of  research  limitations,  the  preliminary  and  tentative  indings  of  this study  indicate  that  irst  of  all,  similar  to  indings  worldwide,  Indonesian  companies  have substantial intellectual capital and they do aware and disclose their intellectual capital in the annual reports. Secondly, IC that tends to be most often reported is relational capital, followed by human capital and organizational capital. Thirdly, even though the trend in IC disclosure as a whole is generally increasing, there is no conclusive and predictable pattern found.  Fourthly,  the  IC  identiied  and  reported  is  inconsistent  as  no  framework  available in  helping  the  companies  discloses  intellectual  capital.  Fifthly,  most  of  the  intellectual capital  components  identiied  are  in  qualitative  format.  Sixthly,  even  though  the  study  did not ind a conclusive evidence regarding the relationship between the level of  IC �

Alternative measures of the Federal Reserve Banks' cost of equity capital

OpenAIRE

Barnes, Michelle L.; Lopez, Jose A.

2005-01-01

The Monetary Control Act of 1980 requires the Federal Reserve System to provide payment services to depository institutions through the twelve Federal Reserve Banks at prices that fully reflect the costs a private-sector provider would incur, including a cost of equity capital (COE). Although Fama and French (1997) conclude that COE estimates are “woefully” and “unavoidably” imprecise, the Reserve Banks require such an estimate every year. We examine several COE estimates based on the Capital...

Capital Adequacy and Liquidity in Banking Dynamics: Theory and Regulatory Implications

OpenAIRE

Cao, Jin; Chollete, Loran

2014-01-01

We present a framework for modelling optimum capital adequacy in a dynamic banking context. We combine the (static) capital adequacy framework of Repullo (2013) with a dynamic banking model similar to that of Corbae and D`Erasmo (2014), with the extra feature that the probability of systemic risk is endogenous. Unlike previous work, we examine frameworks to ameliorate bankruptcy using both capital adequacy and liquidity requirements. Since equity is costly, the social cost of regulation may b...

Basic requirements for a preliminary conceptual design of the Korea advanced pyroprocess facility (KAPF)

Energy Technology Data Exchange (ETDEWEB)

Lee, Ho Hee; Ko, Won Il; Chang, Hong Lae; Song, Dae Yong; Kwon, Eun Ha; Lee, Jung Won [Korea Atomic Energy Research Institute, Daejeon (Korea, Republic of)

2008-12-15

Korea Atomic Energy Research Institute (KAERI) has been developing technologies for pyroprocessing for spent PWR fuels. This study is part of a long term R and D program in Korea to develop an advanced recycle system that has the potential to meet and exceed the proliferation resistance, waste minimization, resource minimization, safety and economic goals of approved Korean Government energy policy, as well as the Generation IV International Forum (GIF) program. To support this R and D program, KAERI requires that an independent estimate be made of the conceptual design and cost for construction and operation of a 'Korea Advanced Pyroprocessing Facility', This document describes the basic requirements for preliminary conceptual design of the Korea Advanced Pyroprocess Facility (KAPF). The presented requirements will be modified to be more effective and feasible on an engineering basis during the subsequent design process.

Basic requirements for a preliminary conceptual design of the Korea advanced pyroprocess facility (KAPF)

International Nuclear Information System (INIS)

Lee, Ho Hee; Ko, Won Il; Chang, Hong Lae; Song, Dae Yong; Kwon, Eun Ha; Lee, Jung Won

2008-12-01

Korea Atomic Energy Research Institute (KAERI) has been developing technologies for pyroprocessing for spent PWR fuels. This study is part of a long term R and D program in Korea to develop an advanced recycle system that has the potential to meet and exceed the proliferation resistance, waste minimization, resource minimization, safety and economic goals of approved Korean Government energy policy, as well as the Generation IV International Forum (GIF) program. To support this R and D program, KAERI requires that an independent estimate be made of the conceptual design and cost for construction and operation of a 'Korea Advanced Pyroprocessing Facility', This document describes the basic requirements for preliminary conceptual design of the Korea Advanced Pyroprocess Facility (KAPF). The presented requirements will be modified to be more effective and feasible on an engineering basis during the subsequent design process

Is regulatory capital a legitimate, comparable and objective global standard? Evidence from 51 institutions across 17 countries

Directory of Open Access Journals (Sweden)

Johann Jacobs

2014-05-01

Full Text Available Capital as an instrument for financial regulation has come under scrutiny since the financial crisis of 2007 to 2010 highlighted some deficiencies in the ability of capital to absorb unexpected losses and the procyclical nature of capital. This scrutiny arises mainly from the perspective that one of the principal objectives of capital requirements is to promote and contribute to financial stability. However, the literature on the topic is scarce almost to the point of non-existence regarding capital’s validity as tool to level the playing fields between financial institutions. The objective of this article is therefore to investigate financial regulations based on capital requirements from the perspective of its goal of providing equal competitive conditions for financial institutions, the attainment of which is based on the assumption that the cost of capital between institutions (and countries is the same, which might not necessarily be the case. The cost of capital for 51 financial institutions across 17 countries (three institutions per country is accordingly calculated in this article using original weighted average cost of capital and capital asset pricing models, as well as modified versions of these to include more country-specific factors. The objective of the article is sought firstly by determining whether the cost of capital is the same among countries and secondly, based on the results, ascertaining whether financial regulations based on capital requirements can therefore realistically achieve this objective of providing equal competitive conditions for financial institutions.

Measuring Capital

OpenAIRE

W. Erwin Diewert

2003-01-01

The paper revisits Harper, Berndt and Wood (1989) and calculates Canadian reproducible capital services aggregates under alternative assumptions about the form of depreciation, the opportunity cost of capital and the treatment of capital gains. Five different models of depreciation are considered: (1) one hoss shay; (2) straight line depreciation; (3) declining balance or geometric depreciation; (4) linearly declining efficiency profiles and (5) linearly increasing maintenance profiles. The l...

Problems of power plant capital demands

International Nuclear Information System (INIS)

Slechta, V.; Bohal, L.

1986-01-01

The problems are discussed of requirements for investment for power plants in Czechoslovakia. Since the construction was finished of coal-burning 110 MW power plants with six power units, specific capital cost has steadily been growing. The growth amounts to 6 to 8% per year while the principle has been observed that specific capital cost decreases with increased unit power. Attention is paid to the cost of the subcontractors of the building and technological parts of a power plant and to the development of productivity of labour. A comparison is tabulated of cost for coal-burning power plants with 100 MW and 200 MW units and for nuclear power plants with WWER-440 reactors. Steps are suggested leading to a reduction of the capital cost of nuclear power plants. It is stated that should not these steps be taken, the envisaged development of nuclear power would be unbearable for the Czechoslovak national economy. (Z.M.). 8 tabs., 3 refs

A road map for natural capitalism.

Science.gov (United States)

Lovins, A B; Lovins, L H; Hawken, P

1999-01-01

No one would run a business without accounting for its capital outlays. Yet most companies overlook one major capital component--the value of the earth's ecosystem services. It is a staggering omission; recent calculations place the value of the earth's total ecosystem services--water storage, atmosphere regulation, climate control, and so on--at $33 trillion a year. Not accounting for those costs has led to waste on a grand scale. But now a few farsighted companies are finding powerful business opportunities in conserving resources on a similarly grand scale. They are embarking on a journey toward "natural capitalism," a journey that comprises four major shifts in business practices. The first stage involves dramatically increasing the productivity of natural resources, stretching them as much as 100 times further than they do today. In the second stage, companies adopt closed-loop production systems that yield no waste or toxicity. The third stage requires a fundamental change of business model--from one of selling products to one of delivering services. For example, a manufacturer would sell lighting services rather than lightbulbs, thus benefitting the seller and customer for developing extremely efficient, durable lightbulbs. The last stage involves reinvesting in natural capital to restore, sustain, and expand the planet's ecosystem. Because natural capitalism is both necessary and profitable, it will sub-sume traditional industrialism, the authors argue, just as industrialism sub-sumed agrarianism. And the companies that are furthest down the road will have the competitive edge.

Health-Based Capitation Risk Adjustment in Minnesota Public Health Care Programs

Science.gov (United States)

Gifford, Gregory A.; Edwards, Kevan R.; Knutson, David J.

2004-01-01

This article documents the history and implementation of health-based capitation risk adjustment in Minnesota public health care programs, and identifies key implementation issues. Capitation payments in these programs are risk adjusted using an historical, health plan risk score, based on concurrent risk assessment. Phased implementation of capitation risk adjustment for these programs began January 1, 2000. Minnesota's experience with capitation risk adjustment suggests that: (1) implementation can accelerate encounter data submission, (2) administrative decisions made during implementation can create issues that impact payment model performance, and (3) changes in diagnosis data management during implementation may require changes to the payment model. PMID:25372356

Electronic Markets Ontology: ideal architecture for global capital market

Directory of Open Access Journals (Sweden)

Davide Khalil

1998-11-01

Full Text Available When approaching electronic capital market design and microstructure with the focus of analysing and improving existing markets with end-state analysis, it is necessary to name an ideal objective. This serves the purposes of technology evaluation and the development of a standard framework for structural measurement in modeling and language paradigm design. An ideal capital market architecture is presented in this paper that is feasible with current technology based on the end-to-end functionality of existing capital markets including internal requirements of participants. Various architectural and ethical issues are introduced and discussed sketching a framework for further work in quantifying electronic markets.

Small scale hydroelectric power potential in Nevada: a preliminary reconnaissance survey

Energy Technology Data Exchange (ETDEWEB)

Cochran, G.F.; Fordham, J.W.; Richard, K.; Loux, R.

1981-04-01

This preliminary reconnaissance survey is intended to: develop a first estimate as to the potential number, location and characteristics of small-scale (50 kW to 15 MW) hydroelectric sites in Nevada; provide a compilation of various Federal and state laws and regulations, including tax and financing regulations, that affect small-scale hydroelectric development and provide information on sources of small-scale hydroelectric generation hardware and consultants/ contractors who do small scale hydroelectric work. The entire survey has been conducted in the office working with various available data bases. The site survey and site evaluation methods used are described, and data are tabulated on the flow, power potential, predicted capital expenditures required, etc. for 61 potential sites with measured flows and for 77 sites with derived flows. A map showing potential site locations is included. (LCL)

The Pro-Cyclical Impact of Basel III Regulatory Capital on Bank Capital Risk

OpenAIRE

Song, Guoxiang

2014-01-01

To raise the quality of regulatory capital, Basel III capital rules recognize unrealized gains and losses on all available-for-sale (AFS) securities in Common Equity Tier 1 Capital (CET1). However, by examining the correlations between U.S. GDP growth rate, interest rates and regulatory capital ratios computed using Basel III regulatory capital definition for six U.S. global systemically important banks (G-SIBs) since 2007, this chapter finds that Basel III regulatory capital will enhance the...

C2 Link Security for UAS: Technical Literature Study and Preliminary Functional Requirements. Version 0.9 (Working Draft)

Science.gov (United States)

2005-01-01

This document provides a study of the technical literature related to Command and Control (C2) link security for Unmanned Aircraft Systems (UAS) for operation in the National Airspace System (NAS). Included is a preliminary set of functional requirements for C2 link security.

The Mixed Waste Management Facility. Preliminary design review

International Nuclear Information System (INIS)

1995-01-01

This document presents information about the Mixed Waste Management Facility. Topics discussed include: cost and schedule baseline for the completion of the project; evaluation of alternative options; transportation of radioactive wastes to the facility; capital risk associated with incineration; radioactive waste processing; scaling of the pilot-scale system; waste streams to be processed; molten salt oxidation; feed preparation; initial operation to demonstrate selected technologies; floorplans; baseline revisions; preliminary design baseline; cost reduction; and project mission and milestones

COMPARATIVE ANALYSIS OF THE BANK’S CAPITAL ADEQUACY ACCORDING TO THE BASEL AGREEMENT

Directory of Open Access Journals (Sweden)

Tesu Ramona Vasilica

2013-07-01

ground we have the state of the economy, the economic problems, situation of the banking system. In Romania there is now a modern and competitive banking system, which provides circulation of the economy and domestic supplies banking products and services in accordance with trends in the European banking sector. In this way, the action line, I did a comparative study determining capital requirements under Basel 1, Basel 2, the standardized approaches, credit risk determined. Capitalization of Romanian bank’s remain comfortable, providing good conditions for meeting additional capital requirements Basel III. In what concerns the capital adequacy management, the leading structures of a credit institution need to establish strategies and effective policies in order to maintain, on a continuous base, a level, a correct structure of their own funds, proper for covering the risks that the credit institution is exposed to. We conclude that a bank needs to increase its own funds, which is achieved by several methods decided by management. Presentation of concrete cases in approaching the bank’s capital adequacy represent the personal work which completes the study concerning the purpose of back-up accounting in the banking system, adequate correlation of the risks and capitals.

Pelletized vs. natural iron ore technology: energy, labor, and capital changes. Final report

Energy Technology Data Exchange (ETDEWEB)

Kakela, P.

1978-09-01

Total energy requirements per ton of iron-in-ore for natural and pelletized ore were calculated by a hybrid energy analysis. Energy requirements for ore preparation were subsequently considered as one energy input (embodied) to blast furnaces. Total energy requirements per ton molten iron were calculated for each year from 1955 through 1975 to identify changes attributable to the shift in iron ore preparation. Four results were found. (1) In practice, the lean ores are energetically superior. Pelletized ore requires more energy at the mine than natural ore, but pellets produce offsetting energy savings in the blast furnace. (2) Labor changes followed a similar pattern: man-hours per ton of molten iron increased at the mine with pelletization, but decreased at the blast furnance. Net labor required per ton of molten iron has decreased with pelletization. (3) Capital investments per ton of molten iron have increased greatly at iron ore mines with pelletization and decreased moderately at blast furnaces. New capital investment per ton of molten iron has increased with pelletization. (4) In the iron and steel industry, relatively low-priced energy held a substantial advantage over high-priced labor between 1950 and 1969. The industry, however, discovered that capital investments in pellet plants could save both labor and energy up to 1963; after 1963 capital and energy weresubstituted for labor. A sharp reversal of substitutional advantage occurred in 1970; energy jumped to the most costly factor. Thus capital presently shows a strong substitutional advantage over high-priced energy and intermediately-priced labor.

Islamic Banking Capital Challenges to Increase Business Expansion (Indonesia Cases

Directory of Open Access Journals (Sweden)

Lucky Nugroho

2017-11-01

Full Text Available In the case of Indonesia regarding capital sources in Islamic Banks, all Islamic Banks are subsidiaries of Conventional Banks (except Bank Muamalat. Bank Syariah Mandiri which is the only Islamic Bank that meets capital ownership with Business Category Bank Level III (BUKU III is also a subsidiary of Bank Mandiri (conventional bank. In the same way, conventional banks become essential to meet the capital requirement to improve the business of Islamic Bank. This article aims to determine the role of capital and operating profit for business expansion (financing in Bank Syariah Mandiri. The method used is the quantitative method by using statistical tool STATA version 13. The result of regression test is known that capital and profit have a significant influence in increasing financing expansion in Islamic Bank. Also, the price of the number of bad debts causes the lack of public confidence in the Islamic bank. The alternative to increasing the capital and public trust is government policies to support Islamic bank become independent.

From political capitalism to clientelist capitalism? The case of Croatia

Directory of Open Access Journals (Sweden)

Denis Redžepagić

2011-12-01

Full Text Available The paper analyses the typology of capitalism in Croatia. The Croatian form of capitalism is specific, in form and origin, with links between the pre-independence and post-independence periods, implying that capitalism has gradually evolved – from the political during the eighties towards current clientelistic capitalism. The manufacturing focus aims to facilitate the analysis of institutional, political and economic changes over the past forty years, emphasising the implications of institutional changes which have to a great extent, apart from the war of course, influenced the evolution of capitalism. The paper finds that the transition generated a number of costs, mainly generated by the state (fall in employment, manufacturing and social capital. The claim that the manufacturing industry has inherited low competitiveness neglects the necessary discussion on the role of the state in the formation of industrial policy and market actions. It is also an ex post argument for the claim that restructuring should have been implemented prior to privatisation as this would reduce negative impacts. Institutional changes led to a drastic reduction of the role of the manufacturing sector in the economy. The main finding in this paper is that the change in the interaction between the financial and the real sectors of the economy, the educational system and industrial relations system exposed the vulnerability of the current institutional environment. Despite similarities, institutional advantages of political capitalism are lost in the new type of Croatian capitalism, due to the complexity of the double transition process and the institutional or socio-economic particularities.

Exploring the hypothesis of ethnic practice as social capital: violence among Asian/Pacific Islander youth in Hawaii.

Science.gov (United States)

Spencer, James H; Irwin, Katherine; Umemoto, Karen N; Garcia-Santiago, Orlando; Nishimura, Stephanie T; Hishinuma, Earl S; Choi-Misailidis, Soojean

2009-11-01

Studies of youth violence have usually examined social capital using qualitative methods, but remain limited by small sample sizes. In addition, few studies examine violence among Asian/Pacific Islander (API) youth, even though they are one of the fastest-growing youth populations in the USA. To contribute to a better understanding of culture and ethnicity in youth violence among Asian Americans and Pacific Islanders by quantifying ethnic forms of social capital. We use an n = 326 sample of three API groups from Oahu, Hawaii. Defining social capital as ethnic practice, we test Filipino, Hawaiian and Samoan forms of youth social capital on intimate and non-intimate violence. Bivariate findings associate lower violence with language ability among Filipinos, coming-of-age practices among Hawaiians, and community leader engagement among Samoans. Multivariate tests showed language to be the strongest correlation. Bivariate tests also suggested potentially risky forms of social capital. results lead us to hypothesize that social capital that deliberately places individuals within their respective ethnic communities are risk-reducing, as are those that promote formal ethnic community structures. Those that formalize ethnic practice and social capital into commercial activities may be associated with higher risk of violence. Given the relatively small sample size and the exploratory approach for the present investigation, further research is needed to determine whether the findings can be replicated and to extend the findings of the present preliminary study.

Dominant Capital and the New Wars

Directory of Open Access Journals (Sweden)

Shimshon Bichler

2015-08-01

to run into mounting difficulties in the late 1990s, and eventually collapsed in 2000. For differential accumulation to continue, dominant capital now needs inflation, and inflation requires instability and social crisis. It is within this broader dynamics of power accumulation that the new wars need to be understood.

Preliminary analysis of 500 MWt MHD power plant with oxygen enrichment

Science.gov (United States)

1980-04-01

An MHD Engineering Test Facility design concept is analyzed. A 500 MWt oxygen enriched MHD topping cycle integrated for combined cycle operation with a 400 MWe steam plant is evaluated. The MHD cycle uses Montana Rosebud coal and air enriched to 35 mole percent oxygen preheated to 1100 F. The steam plant is a 2535 psia/1000 F/1000 F reheat recycle that was scaled down from the Gilbert/Commonwealth Reference Fossil Plant design series. Integration is accomplished by blending the steam generated in the MHD heat recovery system with steam generated by the partial firing of the steam plant boiler to provide the total flow requirement of the turbine. The major MHD and steam plant auxiliaries are driven by steam turbines. When the MHD cycle is taken out of service, the steam plant is capable of stand-alone operation at turbine design throttle flow. This operation requires the full firing of the steam plant boiler. A preliminary feasibility assessment is given, and results on the system thermodynamics, construction scheduling, and capital costs are presented.

Nursing intellectual capital theory: testing selected propositions.

Science.gov (United States)

Covell, Christine L; Sidani, Souraya

2013-11-01

To test the selected propositions of the middle-range theory of nursing intellectual capital. The nursing intellectual capital theory conceptualizes nursing knowledge's influence on patient and organizational outcomes. The theory proposes nursing human capital, nurses' knowledge, skills and experience, is related to the quality of patient care and nurse recruitment and retention of an inpatient care unit. Two factors in the work environment, nurse staffing and employer support for nurse continuing professional development, are proposed to influence nursing human capital's association with patient and organizational outcomes. A cross-sectional survey design. The study took place in 2008 in six Canadian acute care hospitals. Financial, human resource and risk data were collected from hospital departments and unit managers. Clearly specified empirical indicators quantified the study variables. The propositions of the theory were tested with data from 91 inpatient care units using structural equation modelling. The propositions associated with the nursing human capital concept were supported. The propositions associated with the employer support for nurse continuing professional development concept were not. The proposition that nurse staffing's influences on patient outcomes was mediated by the nursing human capital of an inpatient unit, was partially supported. Some of the theory's propositions were empirically validated. Additional theoretical work is needed to refine the operationalization and measurement of some of the theory's concepts. Further research with larger samples of data from different geographical settings and types of hospitals is required to determine if the theory can withstand empirical scrutiny. © 2013 Blackwell Publishing Ltd.

13 CFR 108.150 - Management and ownership diversity requirement.

Science.gov (United States)

2010-01-01

... VENTURE CAPITAL (âNMVCâ) PROGRAM Qualifications for the NMVC Program Organizing A Nmvc Company § 108.150... 70 percent of your Regulatory Capital or your Leverageable Capital. (c) Non-affiliation requirement. At least 30 percent of your Regulatory Capital and Leverageable Capital must be owned and controlled...

Long-term capital planning considering nuclear plant life-cycle management

International Nuclear Information System (INIS)

Negin, C.A.; Simpson, J.M.; Hostetler, D.R.

1992-09-01

The creation of a Life Cycle Management (LCM) group at utilities to evaluate the long term capital refurbishment needs is gaining favor. Among the functions of such groups can be the responsibility for recommending long term capital planning projects based on results of evaluations of systems, structures, and components that are not only essential to achieving the full current license term of operation, but also to extend the service life of the plant. Making such recommendations, in content and timing, requires the ability to view all recommendations in the context of an overall capital budget and long range outage impacts. This report illustrates an approach for creating a Long-Term Capital Plan with methods for deciding on, compiling, integrating, and presenting projects from the perspective of an LCM program for a nuclear power plant. It also addresses a rationale for capitalization of LCM program activities that would not be allowed under current accounting treatment

FINANCIAL COMMUNICATION AND INTELLECTUAL CAPITAL REPORTING PRACTICES

Directory of Open Access Journals (Sweden)

BELENESI (BUMBA MARIOARA

2014-07-01

Full Text Available In a highly competitive economy, driven by globalization, the abundance of digital information and communication facilities, the investor directs its capital to those companies that promise added value of the invested capital. Even so, companies seek to obtain favorable terms of financing by rendering sensitive the investors. To achieve their goal, they must provide information about their financial and non financial performance with sufficient regularity to meet the information needs of actual or potential capital bidders in decision making. Financial communication through standardized annual statements of financial reporting in the context of corporate governance is no longer sufficient. The organization has more resources than those included in its balance sheet, capable of attracting huge benefits, but which do not meet the criteria for recognition in the financial statements. It requires, therefore, a voluntary disclosure of information on intangible resources, which are key factors in creating future value for both the organization itself and the industry it is part of. The reports of intellectual capital can effectively complement the shortcomings of the traditional model of accounting and financial reporting. In our paper we wanted to analyze financial communication in the context of corporate governance, presented through financial statements, reaching the intellectual capital reporting practices, as a means to improve communication of the organization with the outside. In this sense we presented two examples of good practice of two service companies (consultancy and design that publish annually intellectual capital reports. To alleviate the negative consequences of non-recognition of intangible assets in the financial statements, we are for the voluntary disclosure of information on intangible assets in the intellectual capital reports, annual reports, those regarding corporate responsibility, or at least in the explanatory notes of

Entrepreneurs’ human and social capital

DEFF Research Database (Denmark)

Shayegheh Ashourizadeh, Shayegheh; Rezaei, Shahamak; Schøtt, Thomas

2014-01-01

Abstract: It is widely acknowledged that entrepreneurs’ human capital in form of education and social capital in form of networking are mutually beneficial and also that both human and social capital benefit their performance. Here, the hypothesis is that human and social capital, in combination......, provide added value and jointly add a further boost to performance, specifically if the form of exporting. Global Entrepreneurship Monitor provides data on 52,946 entrepreneurs, who reported on exporting and networking for advice. Hierarchical linear modelling shows that human capital promotes social...... capital, that human capital and social capital (specifically networking in the international environment, work-place, professions and market, but not in the private sphere) both benefit export directly and that human capital amplifies the benefit of social capital, especially through international...

Capital investment requirements for greenhouse gas emissions mitigation in power generation on near term to century time scales and global to regional spatial scales

International Nuclear Information System (INIS)

Chaturvedi, Vaibhav; Clarke, Leon; Edmonds, James; Calvin, Katherine; Kyle, Page

2014-01-01

Our paper explores the implication of climate mitigation policy and electricity generation technology performance for capital investment demands by the electric power sector on near term to century time scales. We find that stabilizing GHG emissions will require additional investment in the electricity generation sector over and above investments that would be needed in the absence of climate policy, in the range of 15 to 29 trillion US$ (48–94%) depending on the stringency of climate policy during the period 2015 to 2095 under default technology assumptions. This increase reflects the higher capital intensity of power systems that control emissions as well as increased electrification of the global economy. Limits on the penetration of nuclear and carbon capture and storage technology could increase costs substantially. Energy efficiency improvements can reduce the investment requirement by 18 to 24 trillion US$ (compared to default technology climate policy assumptions), depending on climate policy scenario. We also highlight the implications of different technology evolution scenarios for different regions. Under default technology set, the heaviest investments across scenarios in power generation were observed in China, India, SE Asia and Africa regions with the latter three regions dominating in the second half of the 21st century. - Highlights: • We present electricity generation investment requirement under different scenarios. • A climate policy will lead to substantial increase in investment requirement. • Stringency of climate policy has significant implications for investments. • Technology evolution and performance alter investment requirements significantly. • China, India, Southeast Asia and Africa dominate as investment destinations

Cyclicality of bank capital buffers in South-Eastern Europe: endogenous and exogenous aspects

Directory of Open Access Journals (Sweden)

Ana Kundid Novokmet

2015-06-01

Full Text Available The interdependence between the regulatory capital ratio and macroeconomic indicators, with reference to the phenomena cyclicality and pro-cyclicality is a widely emphasized disadvantage of the capital adequacy concept. Redesign of the aforementioned concept towards the countercyclical capital requirements is a kind of recognition of the creators of the Basel standards of the previous oversights in its development. This paper aims to explore empirically the direction, intensity and significance of endogenous and exogenous determinants of the changes in banks’ capital buffers by taking into consideration both the impact of the macroeconomic properties and the bank-specific characteristics of South-Eastern Europe. More than 80 commercial banks in the period from 2000-2010 have been encompassed by the research. Use of a dynamic panel analysis led to the conclusion that the bank capital buffers decreased during the observed period, with the exception of certain years during the economic expansion, which confirms the appropriateness of regulatory requirements considering the countercyclical capital buffers. Nevertheless, it might be that capital building and spending in the future will not follow the pattern from the last decade due to the specificities of the observed period, as well as the banking sector ownership transformations, economic and credit growth as well as asset prices growth in the post-transitional period, and finally, the real crisis which spilled over onto the financial sectors.

Investment in capital markets

OpenAIRE

Ledenyov, Dimitri O.; Ledenyov, Viktor O.

2017-01-01

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

Minority Capital Resource Handbook. A Guide to Raising Capital for Minority Entrepreneurs. Second Edition.

Science.gov (United States)

Ewing, Samuel D., Jr.; Maloney, Clifton H. W.

This minority capital resource handbook consists of a guide to raising capital for minority entrepreneurs and a listing of sources that provide such capital. The first section deals with the process of raising capital. The realities of raising capital, intermediaries and financial advisors, and assessing needs are outlined. Factors considered in…

Nursing intellectual capital theory: operationalization and empirical validation of concepts.

Science.gov (United States)

Covell, Christine L; Sidani, Souraya

2013-08-01

To present the operationalization of concepts in the nursing intellectual capital theory and the results of a methodological study aimed at empirically validating the concepts. The nursing intellectual capital theory proposes that the stocks of nursing knowledge in an organization are embedded in two concepts, nursing human capital and nursing structural capital. The theory also proposes that two concepts in the work environment, nurse staffing and employer support for nursing continuing professional development, influence nursing human capital. A cross-sectional design. A systematic three-step process was used to operationalize the concepts of the theory. In 2008, data were collected for 147 inpatient units from administrative departments and unit managers in 6 Canadian hospitals. Exploratory factor analyses were conducted to determine if the indicator variables accurately reflect their respective concepts. The proposed indicator variables collectively measured the nurse staffing concept. Three indicators were retained to construct nursing human capital: clinical expertise and experience concept. The nursing structural capital and employer support for nursing continuing professional development concepts were not validated empirically. The nurse staffing and the nursing human capital: clinical expertise and experience concepts will be brought forward for further model testing. Refinement for some of the indicator variables of the concepts is indicated. Additional research is required with different sources of data to confirm the findings. © 2012 Blackwell Publishing Ltd.

Social Capital Database

DEFF Research Database (Denmark)

Paldam, Martin; Svendsen, Gert Tinggaard

2005-01-01

  This report has two purposes: The first purpose is to present our 4-page question­naire, which measures social capital. It is close to the main definitions of social capital and contains the most successful measures from the literature. Also it is easy to apply as discussed. The second purpose...... is to present the social capital database we have collected for 21 countries using the question­naire. We do this by comparing the level of social capital in the countries covered. That is, the report compares the marginals from the 21 surveys....

The U.S. Intelligence Community's Five Year Strategic Human Capital Plan

National Research Council Canada - National Science Library

2006-01-01

.... The National Intelligence Strategy (NIS) requires a 5-year human capital strategy that will build an agile, "all source" workforce by projecting and planning for mission critical human resource requirements...

The Importance of Knowledge Management in Terms of Increasing Social Capital in Selected Slovene Technology Parks

Directory of Open Access Journals (Sweden)

Riko Novak

2013-12-01

Full Text Available This article investigates the importance of knowledge management (KM and how it is influencing social capital (SC in selected organisations that are members of Slovene technology parks. The purpose of this article is to point out statistical important characteristics between the dependant variable and several independent variables on the basis of preliminary studied empirical data based on a population of 667 organisations chosen from the subjects of the innovative environment database maintained by the Public Agency of the Republic of Slovenia for Entrepreneurship and Foreign Investments (JAPTI. On the basis of a multivariate regression analysis we wanted to present empirical findings, namely, whether communication technologies and the capability (ability of the employed to access information sources influences KM. With this article we want to present the final findings which define the development of a conceptual framework for understanding the influence of KM in small and medium sized companies on the development of social capital. We came to the conclusion that in an organisation the importance of intellectual and social capital, intangible capital assets and their continuous measurement has to be emphasised in order to increase the importance (awareness of KM.

The Performance of Intellectual Capital

DEFF Research Database (Denmark)

Murthy, Vijaya; Mouritsen, Jan

2011-01-01

Purpose – This paper aims to analyse the relationship between intellectual capital and financial capital using a case study. This makes it possible to discuss how intellectual capital is related to value creation with a degree of nuance that is absent from most statistical studies of relationships...... between human, organisational, relational and financial capital. Design/methodology/approach – The paper uses a case study of a firm that invests in intellectual capital in order to develop financial capital. It traces the relationship between intellectual capital elements and financial capital via...... interviews. This allows the development of a nuanced account of the performance of intellectual capital. This account questions the universality of the linear model typically found in statistical studies. The model makes it possible to show how items of intellectual capital not only interact but also compete...

Effect of increased regulation on capital costs and manual labor requirements of nuclear power plants

International Nuclear Information System (INIS)

Paik, S.; Schriver, W.R.

1981-01-01

An attempt is made to explain the impact of increasing governmental regulation on capital costs and labor requirements for constructing light water reactor (LWR) electric power plants. The principal factors contributing to these increases are: (1) market conditions and (2) increased regulation. General market conditions include additional costs attributable to price inflation of equipment, material, labor, and the increased cost of money. The central objective of this work is to estimate the impact of increasing regulation on plant costs and, conversely, on output. To do this it is necessary to isolate two opposing sets of forces which have been in operation during the period of major regulatory expansion: learning based upon plant design experience and economies of scale with increasing size (generating capacity) of newer plants. Conceptual models are specified to capture the independent effects of increasing regulation, learning, and economies of scale. Empirical results were obtained by estimating the models on data collected from industry experience during the 1967-1980 period. 23 refs

STOCK EXCHANGE LISTING INDUCES SOPHISTICATION OF CAPITAL BUDGETING

Directory of Open Access Journals (Sweden)

Wesley Mendes-da-Silva

2014-08-01

Full Text Available This article compares capital budgeting techniques employed in listed and unlisted companies in Brazil. We surveyed the Chief Financial Officers (CFOs of 398 listed companies and 300 large unlisted companies, and based on 91 respondents, the results suggest that the CFOs of listed companies tend to use less simplistic methods more often, for example: NPV and CAPM, and that CFOs of unlisted companies are less likely to estimate the cost of equity, despite being large companies. These findings indicate that stock exchange listing may require greater sophistication of the capital budgeting process.

What do Basel Capital Accords mean for SMEs?

OpenAIRE

Trujillo Ponce, Antonio; Briozzo, Anahí; Cardone Riportella, Clara

2011-01-01

This paper analyses the impact of the new Basel Capital Accords (Basel II and Basel III) on the bank’s capital requirements in a portfolio of Small and Medium-sized Enterprises (SMEs) when the internal ratings-based (IRB) approach is used. To do this, the study uses a large database of Spanish firms and covers the period from 2005 to 2009. We also examine the effect on the credit risk premium charged by banks of the guarantee offered by a Loan Guarantee Association (LGA) to a SME; and whether...

Cultural Capital: A Concept Analysis.

Science.gov (United States)

Ohashi, Yuki; Taguchi, Atsuko; Omori, Junko; Ozaki, Akiko

2017-07-01

Harnessing community assets may help public health nurses address health inequalities. Cultural factor is one such asset, which is assumed to be capital in a community. Cultural capital is a key concept for understanding the causes of public health issues. This paper provided an in-depth analysis of "cultural capital" as a concept. Rodgers' evolutionary methodology was used for concept analysis. Forty-two studies published in English between 1998 and 2015 were retrieved from MEDLINE by searching for "cultural capital" in the title field. Antecedents of cultural capital included "educational environment," "belongingness in one's social group," "existing health/social inequalities," and "daily behavior." Cultural capital's identified attributes were "social cultivation," "reproductive rubric," "practical knowledge," and "autogenic ability." Cultural capital's consequences were "improving productivity," "reducing health/social inequality," and "enhancing well-being." Cultural capital is defined as capital characterized by cultivation, rubric, knowledge, and ability. These aspects of cultural capital are typically autogenic, and accumulate and reproduce through lifelong community membership. Cultural capital reduces inequality and ultimately enhances the well-being of individuals and the community through bonding, bridging, and linking economic and social capital. © 2017 Wiley Periodicals, Inc.

Quarterly Aggregate Capital Input and the Cost of Capital for the

OpenAIRE

Subhash C. Sharma; Yijian He

1995-01-01

It is the flow of capital services, instead of the capital stock, along with the flows of other inputs which is related to the flows of outputs in economic theory of cost and production. In applied research, quite often to capture the dynamic phenomena which occurs within a year, there is a need to use quarterly data which may not be captured by annual data. However, quarterly data on capital input and the cost of capital are not readily available. Thus, in this paper the quarterly real and n...

A different capitalism? : Guanxi-capitalism and the importance of family in modern China

OpenAIRE

Rühle, Susanne

2011-01-01

The emergence of Capitalism is said to always lead to extreme changes in the structure of a society. This view implies that Capitalism is a universal and unique concept that needs an explicit institutional framework and should not discriminate between a German or US Capitalism. In contrast, this work argues that the ‘ideal type’ of Capitalism in a Weberian sense does not exist. It will be demonstrated that Capitalism is not a concept that shapes a uniform institutional framework within every ...

Piketty’s Capital

DEFF Research Database (Denmark)

Larsen, Øjvind

2016-01-01

Piketty’s Capital in Twenty-First Century has posed a totally new platform for the discussion of the economy and capitalism. Piketty has reinvented the classical political economy founded by Adam Smith in his 1776 Wealth of Nations. Piketty has shown via massive historical research how growth...... and inequality have developed since 1793. Piketty’s conclusion is that the French Revolution did not change the existing inequality either in the medium or in the long term. Piketty’s prediction is that a new form of global capitalism will arise, patrimonial capitalism, in which inequality will develop further...

Measuring the value of groundwater and other forms of natural capital.

Science.gov (United States)

Fenichel, Eli P; Abbott, Joshua K; Bayham, Jude; Boone, Whitney; Haacker, Erin M K; Pfeiffer, Lisa

2016-03-01

Valuing natural capital is fundamental to measuring sustainability. The United Nations Environment Programme, World Bank, and other agencies have called for inclusion of the value of natural capital in sustainability metrics, such as inclusive wealth. Much has been written about the importance of natural capital, but consistent, rigorous valuation approaches compatible with the pricing of traditional forms of capital have remained elusive. We present a guiding quantitative framework enabling natural capital valuation that is fully consistent with capital theory, accounts for biophysical and economic feedbacks, and can guide interdisciplinary efforts to measure sustainability. We illustrate this framework with an application to groundwater in the Kansas High Plains Aquifer, a rapidly depleting asset supporting significant food production. We develop a 10-y time series (1996-2005) of natural capital asset prices that accounts for technological, institutional, and physical changes. Kansas lost approximately $110 million per year (2005 US dollars) of capital value through groundwater withdrawal and changes in aquifer management during the decade spanning 1996-2005. This annual loss in wealth is approximately equal to the state's 2005 budget surplus, and is substantially more than investments in schools over this period. Furthermore, real investment in agricultural capital also declined over this period. Although Kansas' depletion of water wealth is substantial, it may be tractably managed through careful groundwater management and compensating investments in other natural and traditional assets. Measurement of natural capital value is required to inform management and ongoing investments in natural assets.

Measuring Social Capital

DEFF Research Database (Denmark)

Svendsen, Gert Tinggaard; Bjørnskov, Christian

2007-01-01

How to construct a robust measure of social capital? This paper contains two contributions. The first is an attempt to establish a broad social capital measure based on four indicators, the Freedom House Index, an index of perceived corruption from Transparency International, and scores on civic...... participation and generalized trust. This measure is then applied by comparing the level of social capital in 25 countries from Western and Eastern Europe. Our nine cluster analysis shows that Switzerland has the highest score, followed by the Netherlands and Scandinavia. At the other end of the continuum we...... find post-communist countries and Southern Italy. The findings for this specific sample suggest that institutions matter for social capital and the relationship between decentralization and social capital emerges as a promising line of inquiry. Thus, the highest scoring countries in the sample may...

Cultural Capital Today

DEFF Research Database (Denmark)

Prieur, Annick; Skjøtt-Larsen, Jakob; Rosenlund, Lennart

2008-01-01

Based on Danish survey data subjected to correspondence analysis, this article aims at carrying out a critical assessment of Pierre Bourdieu's theory of social differentiation in advanced societies as a multi-dimensional phenomenon. As his theory goes, capital volume (economic + cultural capital......) and capital composition (the relative weight of the two) are the main dimensions of social differentiation, which structure the space of social positions as well as the space of lifestyles. The central discussion of the article concerns the character of cultural capital, and the role it plays in the formation......, as those adhering to the preferences that are most typical for the cultural elite tend to simultaneously avoid or mark distance to popular expressions of taste. Fourth, are there traces of new forms of cultural capital? The study uncovers a cleavage between a global orientation or a form of cosmopolitanism...

Capital rewarding of the electric power enterprises: a comparative analysis; Remuneracao de capital das distribuidoras de energia eletrica: uma analise comparativa

Energy Technology Data Exchange (ETDEWEB)

Rocha, Katia; Braganca, Gabriel Fiuza de [Instituto de Pesquisa Economica Aplicada (IPEA), Brasilia, DF (Brazil)]. E-mails: katia@ipea.gov.br; gabriel@ipea.gov.br; Camacho, Fernando [Banco Nacional de Desenvolvimento Economico e Social (BNDES), Rio de Janeiro, RJ (Brazil)]. E-mail: camacho@bndes.gov.br

2006-07-01

We analyze the electricity distribution segment in Brazil from 1998 to June 2005, trying to assess whether the return on capital invested was in line with the risk and opportunity cost required in the segment. We conclude that the return on capital in this segment in Brazil was systematically negative until 2003. Only in 2005 did the distribution segment really begin to recover, presenting profitability partly consistent with the estimated cost of capital. Comparisons with Argentine, Chilean and American companies reveal that firms in the latter two countries, particularly in Chile, generally managed to reward shareholders according to the opportunity cost of capital. We find evidence of differential effects of regulatory characteristics between the price-cap and cost-plus regimes in the segment's financial profitability, since the return on capital invested was more uniform and predictable in American companies, which are subject to regulation by an internal rate of return or cost-plus mechanism, than in Brazilian firms, subject to price-cap regulation. Among the groups with greater return to profitability after the rationing episode in Brazil in 2002 are EDP Brazil, CPFL Energia, Neoenergia and starting in 2004, Elektro and companies still in government hands. The EDF Group performed the worst in the study period, with negative returns from 1999 onward. (author)

In-use product stocks link manufactured capital to natural capital.

Science.gov (United States)

Chen, Wei-Qiang; Graedel, T E

2015-05-19

In-use stock of a product is the amount of the product in active use. In-use product stocks provide various functions or services on which we rely in our daily work and lives, and the concept of in-use product stock for industrial ecologists is similar to the concept of net manufactured capital stock for economists. This study estimates historical physical in-use stocks of 91 products and 9 product groups and uses monetary data on net capital stocks of 56 products to either approximate or compare with in-use stocks of the corresponding products in the United States. Findings include the following: (i) The development of new products and the buildup of their in-use stocks result in the increase in variety of in-use product stocks and of manufactured capital; (ii) substitution among products providing similar or identical functions reflects the improvement in quality of in-use product stocks and of manufactured capital; and (iii) the historical evolution of stocks of the 156 products or product groups in absolute, per capita, or per-household terms shows that stocks of most products have reached or are approaching an upper limit. Because the buildup, renewal, renovation, maintenance, and operation of in-use product stocks drive the anthropogenic cycles of materials that are used to produce products and that originate from natural capital, the determination of in-use product stocks together with modeling of anthropogenic material cycles provides an analytic perspective on the material linkage between manufactured capital and natural capital.

Human capital and human resource management to achieve ambidextrous learning: A structural perspective

Directory of Open Access Journals (Sweden)

Mirta Diaz-Fernandez

2017-01-01

Full Text Available Organisational learning has become increasingly important for strategic renewal. Ambidextrous organisations are especially successful in the current environment, where firms are required to be efficient and adapt to change. Using a structural approach, this study discusses arguments about the nature of ambidexterity and identifies the kinds of human capital that better support specific learning types and HRM practices suited to these components of human capital. Results highlight learning differences between marketing and production units, as well as different HRM practices and human capital orientations. This study points out that human capital mediates between HRM practices and learning.

Development cost capitalization during R&D races

NARCIS (Netherlands)

Waegenaere, Anja M.B.; Sansing, R.C.; Wielhouwer, J.L.

We investigate the economic effects of capitalizing development costs during a race between two firms to discover and develop a new technology. Winning the race requires success in the research stage and success in the development stage. Development costs are expensed in some settings, but

Development Cost Capitalization During R&D Races

NARCIS (Netherlands)

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

2017-01-01

We investigate the economic effects of capitalizing development costs during a race between two firms to discover and develop a new technology. Winning the race requires success in the research stage and success in the development stage. Development costs are expensed in some settings, but

Recent estimates of capital flight

OpenAIRE

Claessens, Stijn; Naude, David

1993-01-01

Researchers and policymakers have in recent years paid considerable attention to the phenomenon of capital flight. Researchers have focused on four questions: What concept should be used to measure capital flight? What figure for capital flight will emerge, using this measure? Can the occurrence and magnitude of capital flight be explained by certain (economic) variables? What policy changes can be useful to reverse capital flight? The authors focus strictly on presenting estimates of capital...

45 CFR 150.217 - Preliminary determination.

Science.gov (United States)

2010-10-01

... 45 Public Welfare 1 2010-10-01 2010-10-01 false Preliminary determination. 150.217 Section 150.217... Are Failing To Substantially Enforce HIPAA Requirements § 150.217 Preliminary determination. If, at... designees). (b) Notifies the State of CMS's preliminary determination that the State has failed to...

Capital and operating cost estimates for high temperature superconducting magnetic energy storage

International Nuclear Information System (INIS)

Schoenung, S.M.; Meier, W.R.; Fagaly, R.L.; Heiberger, M.; Stephens, R.B.; Leuer, J.A.; Guzman, R.A.

1992-01-01

Capital and operating costs have been estimated for mid-scale (2 to 200 Mwh) superconducting magnetic energy storage (SMES) designed to use high temperature superconductors (HTS). Capital costs are dominated by the cost of superconducting materials. Operating costs, primarily for regeneration, are significantly reduced for HTS-SMES in comparison to low temperature, conventional systems. This cost component is small compared to other O and M and capital components, when levelized annual costs are projected. In this paper, the developments required for HTS-SMES feasibility are discussed

Cultural Capital in Context: Heterogeneous Returns to Cultural Capital Across Schooling Environments

DEFF Research Database (Denmark)

Andersen, Ida Gran; Jæger, Mads Meier

2015-01-01

This paper tests two competing explanations of differences in returns to cultural capital across schooling environments: Cultural reproduction (cultural capital yields a higher returns in high-achieving environments than in low-achieving ones) and cultural mobility (cultural capital yields higher...... returns in low-achieving environments). Using multilevel mixture models, empirical results from analyses based on PISA data from three countries (Canada, Germany, and Sweden) show that returns to cultural capital tend to be higher in low-achieving schooling environments than in high-achieving ones....... These results principally support the cultural mobility explanation and suggest that research should pay explicit attention to the institutional contexts in which cultural capital is converted into educational success....

12 CFR Appendix B to Part 325 - Statement of Policy on Capital Adequacy

Science.gov (United States)

2010-01-01

... capital purposes, the FDIC will accord special attention to the general characteristics of the intangibles... investment in the unconsolidated subsidiary will be divided into a tangible and an intangible portion based... that the minimum capital requirements should apply to a bank's depository activities in their entirety...

Cultural Capital in Context:

DEFF Research Database (Denmark)

Andersen, Ida Gran; Jæger, Mads Meier

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

Human capital diversity in the creation of social capital for team creativity

NARCIS (Netherlands)

Han, J.; Han, J; Brass, D.

2014-01-01

We highlight the social aspects of team creativity by proposing that team creativity is influenced by two types of team social capital: bridging and bonding social capital. Going beyond the structural perspective, we posit that team-level human capital diversity is one of the potential antecedents

12 CFR 208.44 - Capital restoration plans.

Science.gov (United States)

2010-01-01

... capital restoration plan shall not limit the liability of the company under any guarantee required or... condition or practice. No plan shall be accepted unless it includes any performance guarantee described in... Corporation. (i) Performance guarantee by companies that control a bank—(1) Limitation on Liability. (i...

Graduate Inquiry: Social Capital in Online Courses

Science.gov (United States)

Mays, Thomas

2016-01-01

As colleges and universities increase their online course offerings, student social experiences in online learning environments require further examination, specifically for nonresidential students who may already be less integrated into college social networks. A social capital framework was used to guide this qualitative study of 17…

THE CAPITAL OF THE ENTERPRISE-FUNDING SOURCE WITH STABLE CHARACTER

Directory of Open Access Journals (Sweden)

CĂRUNTU GENU ALEXANDRU

2015-06-01

Full Text Available The establishment of an economic unit, regardless of the type and its legal form is conditioned by the existence of a capital which it commences, he creates and assumes obligations and dealings with third parties. As an important part of the heritage capital expressed as pecuniary obligation is designed to drive toward those who participate in the formation of capital, whether they are natural or legal persons. Whereas these obligations do not have period due, they are permanent throughout the existence and functioning of the economic unit. Capital represents funding sources used by an enterprise, a permanent and lasting manner. They must fund all amounts fixed and structural part of the amount of Revolving Fund (the circulating assets of mining subsided with the debts. Determining the optimal size of capital is an issue of the utmost importance in the financial management of the company, as a possible insufficiency of resources influences long-term solvency, liquidity and return it. Over the long term, the goal of any business is to get a sufficient return on capital invested. Creating a company, maintaining the market position and its economic growth requires resources to ensure optimal deployment, to development activities. Creation and operation of a society is not possible in the absence of the capital which can be considered a set of resources likely to provide future revenue streams.

KONTRIBUSI HUMAN CAPITAL dan CUSTOMER CAPITAL DALAM MENGGAPAI KINERJA CAFÉ dan RESTO di SURABAYA

Directory of Open Access Journals (Sweden)

Gendut Sukarno

2016-11-01

Berdasarkan hasil pengolahan data diketemukan bahwa 1 human capital mampu memberikan kontribusi yang berarti terhadap customer capital. 2 Customer capital mampu memberikan kontribusi yang berarti terhadap kinerja café dan resto di Surabaya, 3 human capital mampu memberikan kontribusi yang berarti terhadap kinerja café dan resto di Surabaya.

Cultural capital in context: heterogeneous returns to cultural capital across schooling environments.

Science.gov (United States)

Andersen, Ida Gran; Jæger, Mads Meier

2015-03-01

This paper tests two competing explanations of differences in returns to cultural capital across schooling environments: Cultural reproduction (cultural capital yields a higher returns in high-achieving environments than in low-achieving ones) and cultural mobility (cultural capital yields higher returns in low-achieving environments). Using multilevel mixture models, empirical results from analyses based on PISA data from three countries (Canada, Germany, and Sweden) show that returns to cultural capital tend to be higher in low-achieving schooling environments than in high-achieving ones. These results principally support the cultural mobility explanation and suggest that research should pay explicit attention to the institutional contexts in which cultural capital is converted into educational success. Copyright © 2014 Elsevier Inc. All rights reserved.

SOCIAL CAPITAL FRAMEWORK AND ITS INFLUENCE ON THE ENTREPRENEURIAL ACTIVITY

Directory of Open Access Journals (Sweden)

Badea Mihaela-Raluca

2013-07-01

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

Measuring the value of groundwater and other forms of natural capital

Science.gov (United States)

Fenichel, Eli P.; Abbott, Joshua K.; Bayham, Jude; Boone, Whitney; Haacker, Erin M. K.; Pfeiffer, Lisa

2016-01-01

Valuing natural capital is fundamental to measuring sustainability. The United Nations Environment Programme, World Bank, and other agencies have called for inclusion of the value of natural capital in sustainability metrics, such as inclusive wealth. Much has been written about the importance of natural capital, but consistent, rigorous valuation approaches compatible with the pricing of traditional forms of capital have remained elusive. We present a guiding quantitative framework enabling natural capital valuation that is fully consistent with capital theory, accounts for biophysical and economic feedbacks, and can guide interdisciplinary efforts to measure sustainability. We illustrate this framework with an application to groundwater in the Kansas High Plains Aquifer, a rapidly depleting asset supporting significant food production. We develop a 10-y time series (1996−2005) of natural capital asset prices that accounts for technological, institutional, and physical changes. Kansas lost approximately $110 million per year (2005 US dollars) of capital value through groundwater withdrawal and changes in aquifer management during the decade spanning 1996–2005. This annual loss in wealth is approximately equal to the state’s 2005 budget surplus, and is substantially more than investments in schools over this period. Furthermore, real investment in agricultural capital also declined over this period. Although Kansas’ depletion of water wealth is substantial, it may be tractably managed through careful groundwater management and compensating investments in other natural and traditional assets. Measurement of natural capital value is required to inform management and ongoing investments in natural assets. PMID:26858431

Understanding the interactions between Social Capital, climate change, and community resilience in Gulf of Mexico coastal counties

Science.gov (United States)

Young, C.; Blomberg, B.; Kolker, A.; Nguyen, U.; Page, C. M.; Sherchan, S. P.; Tobias, V. D.; Wu, H.

2017-12-01

Coastal communities in the Gulf of Mexico are facing new and complex challenges as their physical environment is altered by climate warming and sea level rise. To effectively prepare for environmental changes, coastal communities must build resilience in both physical structures and social structures. One measure of social structure resilience is how much social capital a community possesses. Social capital is defined as the connections among individuals which result in networks with shared norms, values and understandings that facilitate cooperation within or among groups. Social capital exists in three levels; bonding, bridging and linking. Bonding social capital is a measure of the strength of relationships amongst members of a network who are similar in some form. Bridging social capital is a measure of relationships amongst people who are dissimilar in some way, such as age, education, or race/ethnicity. Finally Linking social capital measures the extent to which individuals build relationships with institutions and individuals who have relative power over them (e.g local government, educational institutions). Using census and American Community Survey data, we calculated a Social Capital index value for bonding, bridging and linking for 60 Gulf of Mexico coastal counties for the years 2000, and 2010 to 2015. To investigate the impact of social capital on community resilience we coupled social capital index values with physical datasets of land-use/land cover, sea level change, climate, elevation and surface water quality for each coastal county in each year. Preliminary results indicate that in Gulf of Mexico coastal counties, increased bonding social capital results in decreased population change. In addition, we observed a multi-year time lag in the effect of increased bridging social capital on population stability, potentially suggesting key linkages between the physical and social environment in this complex coupled-natural human system. This

Capital gains

International Nuclear Information System (INIS)

Blishen, C.

1997-01-01

This article examines African and Middle East oil and natural gas project financing. Capital markets financing, Ras Laffan's project bonds, capital market issues in Saudi Arabia, the movement toward gas and away from oil, and Islamic opportunities are discussed, African and Middle East oil and gas projects are listed. (UK)

Sand in the Wheels of Capitalism

DEFF Research Database (Denmark)

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

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

Capital Flight from Russia

OpenAIRE

Prakash Loungani; Paolo Mauro

2000-01-01

This paper documents the scale of capital flight from Russia, compares it with that observed in other countries, and reviews policy options. The evidence from other countries suggests that capital flight can be reversed once reforms take hold. The paper argues that capital flight from Russia can only be curbed through a medium-term reform strategy aimed at improving governance and macroeconomic performance, and strengthening the banking system. Capital controls result in costly distortions an...

THE SUCCESS OF EMERGING CAPITAL MARKETS IN DETERMINING ECONOMIC GROWTH

Directory of Open Access Journals (Sweden)

Ion POHOAŢĂ

2014-06-01

Full Text Available Capital markets are regarded as “the barometer” of economic activity at the national level, but among emerging markets, the position of this segment in the economy is far from ideal. The answers that we try to offer are concerning the contribution of capital markets to the economic welfare of nations in transition from Central and Eastern Europe, using Granger causality tests. Our findings highlight that in this geographical area, the relation between capital markets and economic growth is a bidirectional one. However, although both the establishment of stock exchanges and their liberalization represented governments’ strategy of economic development, their objective was not fully achieved. Institutional transformations are required in order to attract foreign investors.

Selection of intellectual capital management strategies

OpenAIRE

Shcherbachenko Viktoriia Oleksiivna

2016-01-01

This article deals with the selection of intellectual capital management strategy. The attention is paid to the structure of intellectual capital, which consists of human capital, customer capital, process capital, intellectual property, intangible assets. The algorithm of selection of intellectual capital management strategy was created by author.

Understanding Capitalism

DEFF Research Database (Denmark)

du Gay, Paul; Morgan, Glenn

2013-01-01

This chapter places The New Spirit of Capitalism in the context of the development of capitalism over the last twenty years, up to and including the 200-7-8 financial crisis and the ongoing economic crisis which has developed out of this and is now focused on the relationship between state expend...

Financial resources for development. Capital markets in developing countries: a study on borrowing by developing countries in the emerging capital markets of the Middle East

Energy Technology Data Exchange (ETDEWEB)

Nashashibi, H S

1980-10-01

Private transfers of capital from the Organization of Petroleum Exporting Countries (OPEC) to developing countries are intended to complement private transfers from the Organization of Economic Cooperation and Development (OECD) by tapping the emerging capital markets in the Middle East. Developing countries will be able to diversify their borrowing and gain additional financing. The long-term investment of oil-producing countries will benefit and the pressures on the banking institutions to recycle funds will lessen. Middle East capital markets include international loans and international bonds. The history of the Kuwaiti dinar (KD) bond market, with its advantages for both investors and borrowers, illustrates the successful development of a capital market. Financial intermediation needs to be improved, however, if the Middle East is to become efficient enough to compete with the Euromarkets. Efficiency will require different measures and should reflect strengthening relationships among Middle East nations. (DCK)

A Conceptual Framework for Team Social Capital as Basis for Organizational Team Synergy

OpenAIRE

Raluca ZOLTAN

2012-01-01

The purpose of this paper is to outline a conceptual framework of team social capital as a basis for reaching organizational team synergy. The dimensions of team social capital and the basic conditions required for organizational team synergy enable the extension of current model of team social capital by including of other variables. Today’s managers must consider these variables since the team tends to be the basic structural unit of current organizations and synergy, the key to achieving h...

Selection of intellectual capital management strategies

Directory of Open Access Journals (Sweden)

Shcherbachenko Viktoriia Oleksiivna

2016-02-01

Full Text Available This article deals with the selection of intellectual capital management strategy. The attention is paid to the structure of intellectual capital, which consists of human capital, customer capital, process capital, intellectual property, intangible assets. The algorithm of selection of intellectual capital management strategy was created by author.

The effect of human capital, social capital, and perceptual values on nascent entrepreneurs' export intentions

DEFF Research Database (Denmark)

Christensen, Poul Rind; Evald, Majbritt Rostgaard; Klyver, Kim

2011-01-01

This study investigates the influence of human capital, social capital, and cognition on nascent entrepreneurs' export intentions. The results indicate that while human capital and social capital influence the level of intended export, cognitive characteristics, such as self-efficacy and risk...

EFFECTIVENESS OF CAPITAL MARKET DERIVATIVES IN HOUSING DELIVERY OF NIGERIA EMERGING MARKET

Directory of Open Access Journals (Sweden)

Bernard Adjekophori

2016-07-01

Full Text Available The capital market is unarguably the most robust institution in any economy notable for mobilizing the necessary fund for financing long-term productive project. It controls relatively large amounts of capital and represent the largest institutional providing long-term credits for capital project like real estate that requires huge capital outlay. This study therefore, attempts an investigation into the effectiveness of capital market derivatives in housing delivery in Lagos. An empirical survey research was conducted in Lagos, using a random sampling technique with a structured questionnaire to collect data from 147 respondents comprising 89 stockbrokers and 58 real estate developers in Lagos mega-city. Data collected were analyzed with SPSS using descriptive and inferential statistics. The result revealed that 56.7% of the observed variations in housing delivery (R2= 0.567; p< 0.05 is explained by capital market derivatives, which suggests that, proper utilization of capital market derivatives will enhance and improve housing delivery in Nigeria. However, this is not been adequately used by developers of real estate projects in the study. Thus, the study recommends amongst other remedial steps that a synergetic effort should be created between the capital market and real estate developers which will enhance effective housing delivery, the development of people and the Nation.

Measuring Social Capital Investment: Scale Development and Examination of Links to Social Capital and Perceived Stress

Science.gov (United States)

Wegner, Rhiana; Gong, Jie; Fang, Xiaoyi; Kaljee, Linda

2014-01-01

Individuals with greater social capital have better health outcomes. Investment in social capital likely increases one’s own social capital, bearing great implications for disease prevention and health promotion. In this study, the authors developed and validated the Social Capital Investment Inventory (SCII). Direct effects of social capital investment on perceived stress, and indirect effects through social capital were examined. 397 Participants from Beijing and Wuhan, China completed surveys. Analyses demonstrated that the SCII has a single factor structure and strong internal consistency. Structural equation modeling showed that individuals who invested more in social capital had greater bonding social capital, and subsequently less perceived stress. Results suggest that disease prevention and health promotion programs should consider approaches to encourage social capital investment; individuals may be able to reduce stress by increasing their investment in social capital. Future research is needed to provide additional empirical support for the SCII and observed structural relationships. PMID:25648725

An Empirical Study on Capital Structure Determinants of Selected ASEAN Countries

OpenAIRE

Ngo, Hoang Anh

2013-01-01

Capital structure has been a controversial topic for decades. Conflicting arguments in theories and mixed findings in empirical work require further studies on this subject. More importantly, most previous studies have focused on developed countries and little attention is paid to emerging economies, especially ASEAN. Therefore, this study attempts to fill the gap by examining effects of capital structure's determinants on different measures of leverage of listed manufacturing companies in se...

Capital Flight and Economic Performance

OpenAIRE

Beja, Edsel Jr.

2007-01-01

Capital flight aggravates resource constraints and contributes to undermine long-term economic growth. Counterfactual calculations on the Philippines suggest that capital flight contributed to lower the quality of long-term economic growth. Sustained capital flight over three decades means that capital flight had a role for the Philippines to lose the opportunities to achieve economic takeoff. Unless decisive policy actions are taken up to address enduring capital flight and manage the macroe...

Financial capital appraisal in the system of industrial enterprise development management

Directory of Open Access Journals (Sweden)

Akhtyamov M.K.

2017-01-01

Full Text Available The paper studies an objective appraisal of financial capital value in industrial enterprise development management. The authors draw attention to a limited scope of work in the area of financial management under application of a traditional approach to appraisal of enterprise financial capital value and describe a new advanced approach to this problem solving. The paper focuses on reformation of balance sheet statement, in which economic benefit and reserves of financial capital are included by the authors; the author’s methodology for appraisal of financial capital value and its application sphere are denoted. In accordance with a case study, we confirm possibility of more accurate appraisal of enterprise investment opportunities by taking into account economic benefit from reserve of liquidity and borrowing capacity, which increases financial capital value. The practical approval results affirm that application of proprietary methodology for appraisal of financial capital and its elements has practical utility in solving problems of determination of required amount of attracted foreign investments and problems of determination of fair value of company take of an external investor, which are aimed at minimizing risks of corporate ownership dissemination and improving managerial efficiency of an industrial enterprise.

A preliminary assessment of thorium as a fuel for thermal reactors

International Nuclear Information System (INIS)

Duret, M.F.; Halsall, M.J.

1965-08-01

This report presents a preliminary survey of the contributing factors to total fuel cost, for a variety of potentially economic fuel cycles. U 238 and Th 232 are considered as fertile materials with enrichments of U 235 , U 233 and plutonium. The total fuel cost comprises: (a) a fuel supply cost which is derived from a manufacturing cost and the fuel burnup, (b) as spent fuel credit, and (c) inventory charges. The interrelation of these three factors and their dependence on reactor flux, fuel burnup, the heat rating of the fuel and the interest rate are considered for each combination of fertile and fissile material. Results show inventory charges, spent fuel credit (hence processing costs) and fabrication costs have an important effect on the fuelling cost. In addition, using highly rated thorium-based fuels will affect reactor capital costs. Further, more detailed studies of reactor design, fuel design and fuel management schemes are now required to verify the attraction of using thorium as a reactor fuel. (author)

The EU Capital Markets Union and Financial Stability

Directory of Open Access Journals (Sweden)

Kravchuk Igor S.

2017-06-01

Full Text Available The aim of the article is to study the processes of formation of the EU Capital Markets Union in the context of their influence on stability of the markets and the financial system as a whole. In the course of analyzing the project for the building of a single capital market with respect to financial stability, there determined its positive aspects as well as threats and challenges associated with simplification of information requirements to the prospectus of public offering of securities, low liquidity and higher volatility of the equity markets of small and medium-sized businesses, reduction of the regulatory requirements to investment firms (securities traders, correction of prudential norms for infrastructure investments of banking institutions and insurance companies, introduction of a simple, transparent and standard securitization, a secondary market for distressed banking assets, and a potential spread of financial instability at cross-border investments in securities.

LIFE Cost of Electricity, Capital and Operating Costs

International Nuclear Information System (INIS)

Anklam, T.

2011-01-01

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

A Conceptual Framework for Team Social Capital as Basis for Organizational Team Synergy

Directory of Open Access Journals (Sweden)

Raluca ZOLTAN

2012-08-01

Full Text Available The purpose of this paper is to outline a conceptual framework of team social capital as a basis for reaching organizational team synergy. The dimensions of team social capital and the basic conditions required for organizational team synergy enable the extension of current model of team social capital by including of other variables. Today’s managers must consider these variables since the team tends to be the basic structural unit of current organizations and synergy, the key to achieving high performance in global competition.

Human Capital Management Plan Fiscal Years 2003- 2010

Energy Technology Data Exchange (ETDEWEB)

None

2000-03-09

Western, like many other Federal agencies, will face significant and challenging human capital issues in the next decade. The Federal workforce is aging; baby boomers, with their valuable skills and experience, are drawing nearer to retirement and new employees joining the Federal workforce today have different career expectations from the generation that preceded them. The average age of Western’s workforce is approaching 48. Almost a third of the workforce is between 50 and 54 years and most will be eligible to retire in five years. Western has almost twice as many employees who are 55 and older as it has who are 35 and younger. As the workforce ages, the proportion of younger workers is shrinking. The U.S. Census Bureau says you can expect these developments for the next 20 years. The 45 to 65 year-old work group will grow by 54 percent but the 18 to 44 population will rise by only 4 percent. According to the Bureau of Labor Statistics workers age 25 to 44 will decline by 3 million, dropping from 51 percent of the labor force in 1998 to 44 percent in 2008. Western employees who will retire include highly skilled workers in fields such as information technology, engineering, and craft occupations. Deregulation of the electric utility industry and the establishment of regional transmission organizations and independent system operators are also demanding new and different skill mixes than those currently available in Western. Changes in workforce demographic, in the education and skills that will be required in the future, and an increasingly competitive job market, will require flexible and responsive human capital tools to attract and retain talented employees. These trends were the reason for a comprehensive review of Western’s human capital programs to determine its readiness for the future. In July 2001, a team of managers conducted a comprehensive assessment of Western’s human capital needs. The team used the assessment to draft a framework that

Linking social capital, cultural capital and heterotopia at the folk festival

Directory of Open Access Journals (Sweden)

Linda Wilks

2016-06-01

Full Text Available This paper investigates the role of folk festivals in transforming interconnections between people, space and culture. It interlinks three sets of theoretical ideas: social capital, cultural capital and heterotopia to suggest a new conceptual framework that will help to frame a deeper understanding of the nature of celebration. Qualitative data were collected at two long-established folk festivals, Sidmouth Folk Festival in southern England and the Feakle Traditional Music Festival in western Ireland, in order to investigate these potential links. Although Foucault did not fully develop the concept of heterotopia, his explanation that heterotopias are counter-sites, which, unlike utopias, are located in real, physical, space-time, has inspired others, including some festival researchers, to build on his ideas. This study concludes that the heterotopian concept of the festival as sacred space, with the stage as umbilicus, may be linked to the building of social capital; while it is suggested that both social capital and appropriate cultural capital are needed to gain full entry to the heterotopia.

Return on capital of Brazilian electricity distributors: A comparative analysis

International Nuclear Information System (INIS)

Rocha, Katia; Camacho, Fernando; Braganca, Gabriel

2007-01-01

This paper analyzes the electricity distribution segment in Brazil from 1998 to 2005-after the conclusion of privatization process-trying to assess whether the return on capital invested was in line with the risk required in the segment. It concludes that the return on equity in Brazil was systematically negative until 2003. Only in 2005 did the distribution segment really begin to recover, showing profitability consistent with the estimated cost of equity. Comparisons with Argentine, Chilean and American companies reveal that firms in the latter two countries, generally managed to reward shareholders according to the opportunity cost of capital. Estimates are that to sustain annual growth of roughly 3.7% for the next decade, the entire electricity sector will demand US$ 7 billion in capital expenditures a year for the next decade, 67% for generation, 16% for transmission and 17% for distribution. In order to stimulate private capital investment, it is fundamental for the regulator, in the tariff revision processes, to consistently assure a rate of return on capital in line with the segment's real opportunity cost and therefore maintain the health of all the three segments without the burden of subsidies

Performance systems and social capital

DEFF Research Database (Denmark)

Rasmussen, Grane Mikael Gregaard; Edwards, Kasper

2014-01-01

Performance systems and social capital are considered mutually exclusive. Contemporary studies show that social capital is essential in generating performance improvement. This raises an important question: “How do performance systems and social capital correspond?” This study draws on findings...... from a study on implementation of a performance system in Danish construction. The results show causalities between implementing the performance system and the emergence of social capital in construction projects. Results indicate that performance systems and social capital is not mutually exclusive...

Psychological Capital, Career Identity and Graduate Employability in Uganda: The Mediating Role of Social Capital

Science.gov (United States)

Ngoma, Muhammad; Dithan Ntale, Peter

2016-01-01

This paper seeks to evaluate the relationship between psychological capital, career identity, social capital and graduate employability. We also seek to evaluate the mediating role of social capital on the relationships between psychological capital, career identity and graduate employability in Uganda. A population of 480 unemployed young people…

12 CFR 325.104 - Capital restoration plans.

Science.gov (United States)

2010-01-01

... liability of the company under any guarantee required or provided in connection with any capital restoration... of the full amount of that guarantee from any or all of the companies issuing the guarantee. (2... shall be accepted unless it includes any performance guarantee described in section 38(e)(2)(C) of the...

12 CFR 6.5 - Capital restoration plans.

Science.gov (United States)

2010-01-01

... liability of the company under any guarantee required or provided in connection with any capital restoration... amount of that guarantee from any or all of the companies issuing the guarantee. (2) Failure to provide... it includes any performance guarantee described in section 38(e)(2)(C) of that Act by each company...

Capital Equipment Replacement Decisions

OpenAIRE

Batterham, Robert L.; Fraser, K.I.

1995-01-01

This paper reviews the literature on the optimal replacement of capital equipment, especially farm machinery. It also considers the influence of taxation and capital rationing on replacement decisions. It concludes that special taxation provisions such as accelerated depreciation and investment allowances are unlikely to greatly influence farmers' capital equipment replacement decisions in Australia.

Intellectual Capital Management in Transport Sector

Directory of Open Access Journals (Sweden)

Asta Znakovaitė

2011-03-01

Full Text Available This article presents an analysis of intellectual capital; its management, features and processes by which intellectual capital of a company can be evaluated. The main elements of intellectual capital (human, structural and relationship capital are presented and used in research. After surveying bibliography, intellectual capital evaluation model, which applies to Lithuanian and Latvian companies operating in the transport sector, is created. The research is based on the value-added intellectual capital factor model, the relationship between indicators, multi-asset return correlation and regression analysis and generation of alternatives to intellectual capital performance-enhancing. Following an assessment of intellectual capital of Lithuanian and Latvian transport sectors, on the basis of the results, it was found that the intellectual capital is a key factor in corporation management to increase revenue. Article in Lithuanian

HIV/AIDS, social capital, and online social networks.

Science.gov (United States)

Drushel, Bruce E

2013-01-01

The prospects for online social networks as sites of information-gathering and affiliation for persons with AIDS and others concerned about HIV/AIDS not only represent the latest development in a trend toward circumventing traditional media and official information sources, but also may offer hope for a revitalization of HIV/AIDS discourse in the public sphere. This article provides an overview of three decades of information-seeking on the pandemic and its social and personal implications, as well as case studies of three examples of social networking surrounding HIV/AIDS. It finds preliminary evidence of the formation of strong and weak ties as described in Social Network Theory and suggests that the online accumulation of social capital by opinion leaders could facilitate dissemination of messages on HIV/AIDS awareness and testing.

Initial capital structure of portuguese innovative firms : the role of nascent entrepreneurs' human capital

OpenAIRE

Couto, Eduardo; Bilau, José

2011-01-01

The aim of this study is to analyse whether the human capital of the nascent entrepreneur influences the initial capital structure of Portuguese innovative firms. The research model used includes a dependent binary variable devised to check the initial capital structure, two groups of independent variables referring to the human capital and a group of control variables. The results obtained through logistic regression show that "heterogeneity of professional experience" positively influences ...

"Capitalizing on Sport": Sport, Physical Education and Multiple Capitals in Scottish Independent Schools

Science.gov (United States)

Horne, John; Lingard, Bob; Weiner, Gaby; Forbes, Joan

2011-01-01

This paper draws on a research study into the existence and use of different forms of capital--including social, cultural and physical capital--in three independent schools in Scotland. We were interested in understanding how these forms of capital work to produce and reproduce "advantage" and "privilege". Analysis is framed by…

PENGARUH KINERJA INTELLECTUAL CAPITAL TERHADAP KINERJA INTELLECTUAL CAPITAL PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI

Directory of Open Access Journals (Sweden)

Windri Windri

2010-11-01

Full Text Available The aims of this study are to analyze the effect of intellectual capital performance on intellectualcapital disclosure in annual report of manufacturing company listed in Indonesia Stock Exchange(IDX period 2004-2006 and to analyze the level of intellectual capital disclosure in annualreport period 2004-2006. 50 companies was taken as samples in the research.This paper usescontent analysis to compile a measure of disclosure on each annual report of manufacturingcompany and statistical analysis to test whether intellectual capital performance has a positiveeffect to intellectual capital disclosure. Based on statistical analysis, it is concluded that theintellectual capital performance and firm size have a positive effect to intellectual capitaldisclosure. Leverage has no effect to intellectual capital disclosure. The result of content analysisshows that the intellectual capital disclosure in annual report of manufacturing company period2004-2006 are less than 50%.

47 CFR 65.304 - Capital structure.

Science.gov (United States)

2010-10-01

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

The Effect of Cognitive and Relational Social Capital on Structural Social Capital and Micro-Enterprise Performance

Directory of Open Access Journals (Sweden)

Rajennd A/L Muniady

2015-10-01

Full Text Available Social capital and its dimensions are highly interrelated, and the outcome of social capital provides entrepreneurs with resources and knowledge that are not available in the first place. The objective of this study is to examine the effect of relational and cognitive social capital on structural social capital and the effect of structural social capital on the performance of micro-enterprises owned and managed by women in Peninsular Malaysia. This study uses a cross-sectional approach, and quantitative data are collected through structured interviews. It was found that cognitive social capital has a significant positive effect on structural social capital, and structural social capital has a significant positive effect on micro-enterprise performance. It was found that relational social capital has a positive but insignificant effect on structural social capital. Therefore, women entrepreneurs should emphasize on making the communication process easier and on ensuring that their business values, norms, interpretation, and meaning are shared and communicated to relevant parties to improve network ties and to build a dense network, which is essential in providing access to resources and knowledge. This, in return, is expected to improve the micro-enterprise performance in Malaysia.

BIPS-FS preliminary design, miscellaneous notes

International Nuclear Information System (INIS)

1976-01-01

A compendium of flight system preliminary design internal memos and progress report extracts for the Brayton Isotope Power System Preliminary Design Review to be held July 20, 21, and 22, 1975 is presented. The purpose is to bring together those published items which relate only to the preliminary design of the Flight System, Task 2 of Phase I. This preliminary design effort was required to ensure that the Ground Demonstration System will represent the Flight System as closely as possible

World wide spatial capital.

Science.gov (United States)

Sen, Rijurekha; Quercia, Daniele

2018-01-01

In its most basic form, the spatial capital of a neighborhood entails that most aspects of daily life are located close at hand. Urban planning researchers have widely recognized its importance, not least because it can be transformed in other forms of capital such as economical capital (e.g., house prices, retail sales) and social capital (e.g., neighborhood cohesion). Researchers have already studied spatial capital from official city data. Their work led to important planning decisions, yet it also relied on data that is costly to create and update, and produced metrics that are difficult to compare across cities. By contrast, we propose to measure spatial capital in cheap and standardized ways around the world. Hence the name of our project "World Wide Spatial Capital". Our measures are cheap as they rely on the most basic information about a city that is currently available on the Web (i.e., which amenities are available and where). They are also standardized because they can be applied in any city in the five continents (as opposed to previous metrics that were mainly applied in USA and UK). We show that, upon these metrics, one could produce insights at the core of the urban planning discipline: which areas would benefit the most from urban interventions; how to inform planning depending on whether a city's activity is mono- or poly-centric; how different cities fare against each other; and how spatial capital correlates with other urban characteristics such as mobility patterns and road network structure.

World wide spatial capital.

Directory of Open Access Journals (Sweden)

Rijurekha Sen

Full Text Available In its most basic form, the spatial capital of a neighborhood entails that most aspects of daily life are located close at hand. Urban planning researchers have widely recognized its importance, not least because it can be transformed in other forms of capital such as economical capital (e.g., house prices, retail sales and social capital (e.g., neighborhood cohesion. Researchers have already studied spatial capital from official city data. Their work led to important planning decisions, yet it also relied on data that is costly to create and update, and produced metrics that are difficult to compare across cities. By contrast, we propose to measure spatial capital in cheap and standardized ways around the world. Hence the name of our project "World Wide Spatial Capital". Our measures are cheap as they rely on the most basic information about a city that is currently available on the Web (i.e., which amenities are available and where. They are also standardized because they can be applied in any city in the five continents (as opposed to previous metrics that were mainly applied in USA and UK. We show that, upon these metrics, one could produce insights at the core of the urban planning discipline: which areas would benefit the most from urban interventions; how to inform planning depending on whether a city's activity is mono- or poly-centric; how different cities fare against each other; and how spatial capital correlates with other urban characteristics such as mobility patterns and road network structure.

GOVERNMENT INTERVENTIONS IN THE VENTURE CAPITAL MARKET HOW JEREMIE AFFECTS THE HUNGARIAN VENTURE CAPITAL MARKET?

Directory of Open Access Journals (Sweden)

Fazekas Balazs

2014-07-01

Full Text Available JEREMIE (Joint European Resources for Micro to Medium Enterprises program was implemented as a part of the EU cohesion policy in the framework of 2007-2013 programming period. The primary objective of the program was to enhance the financing prospects of SME’s through structural funds that provide financial engineering instruments like loan, guarantee and venture capital. This paper focuses on the effects of JEREMIE on Hungary’s venture capital market. Since 2010, 28 JEREMIE backed venture capital funds were founded in four rounds and 130 billion HUF capital was allocated into these funds with the contribution of Hungarian government. A well-established venture capital market can boost entrepreneurship and innovation, therefore economic growth which is the foundation of government involvement. On the other hand, there is an extensive literature highlighting the limits and possible drawbacks of the active role of public sector in the venture capital market. There is a consensus in the literature that in the long run the extensive role of government in venture capital industry is counterproductive. Substituting market participants by government agencies will hardly result in a competitive and efficient market. However, temporarily as a catalyst public sector can contribute to the development of venture capital market. Direct government intervention supportable temporarily only in the infancy of the industry. The primary objective of every program must be to develop the market to the level where it becomes self-sustaining. This way the success of these programs must not be measured only by the amount of invested capital, financial performance of venture capital funds and venture capital backed companies. Raising private sector awareness and the progress of necessary institutions are also the criteria of a successful program. During the design and implementation of venture capital agendas these aspects must be taken into consideration. This

12 strategies for managing capital projects.

Science.gov (United States)

Stoudt, Richard L

2013-05-01

To reduce the amount of time and cost associated with capital projects, healthcare leaders should: Begin the project with a clear objective and a concise master facilities plan. Select qualified team members who share the vision of the owner. Base the size of the project on a conservative business plan. Minimize incremental program requirements. Evaluate the cost impact of the building footprint. Consider alternative delivery methods.

Trinidadian capitalism

Directory of Open Access Journals (Sweden)

Kevin A. Yelvington

1999-07-01

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

Greenridge Multi-Pollutant Control Project Preliminary Public Design Report

Energy Technology Data Exchange (ETDEWEB)

Connell, Daniel P

2009-01-12

the commercial readiness of an emissions control system that is specifically designed to meet the environmental compliance requirements of these smaller coal-fired EGUs. The multi-pollutant control system is being installed and tested on the AES Greenidge Unit 4 (Boiler 6) by a team including CONSOL Energy Inc. as prime contractor, AES Greenidge LLC as host site owner, and Babcock Power Environmental Inc. as engineering, procurement, and construction contractor. All funding for the project is being provided by the U.S. Department of Energy, through its National Energy Technology Laboratory, and by AES Greenidge. AES Greenidge Unit 4 is a 107 MW{sub e} (net), 1950s vintage, tangentially-fired, reheat unit that is representative of many of the 440 smaller coal-fired units identified above. Following design and construction, the multi-pollutant control system will be demonstrated over an approximately 20-month period while the unit fires 2-4% sulfur eastern U.S. bituminous coal and co-fires up to 10% biomass. This Preliminary Public Design Report is the first in a series of two reports describing the design of the multi-pollutant control facility that is being demonstrated at AES Greenidge. Its purpose is to consolidate for public use all available nonproprietary design information on the Greenidge Multi-Pollutant Control Project. As such, the report includes a discussion of the process concept, design objectives, design considerations, and uncertainties associated with the multi-pollutant control system and also summarizes the design of major process components and balance of plant considerations for the AES Greenidge Unit 4 installation. The Final Public Design Report, the second report in the series, will update this Preliminary Public Design Report to reflect the final, as-built design of the facility and to incorporate data on capital costs and projected operating costs.

Social Capital in Asia

DEFF Research Database (Denmark)

Li, Peter Ping; Redding, Gordon

2014-01-01

This article provides an overview of social capital in Asia. Social capital is trust and appears in two main forms: relational, based on societal norms, and systemic, based on societal institutions. The relational encourages personalistic transactions; and systemic trust, supports more formal......, and usually larger, transactions backed by law. For economic development, the systemic form becomes crucial but needs to be compatible with relational norms. The dimensions of social capital are often dual in nature. This article employs a theory that accepts this and analyses the phenomena as yin......–yang balancing, seeing trust as a culturally determined enabler of social cooperation. The evolutions of trustworthiness in Japan, China, and the Philippines are analysed. This article contributes to the literature on varieties of capitalism and business systems as well as that on social capital. It raises...

¿Necesitamos capital social? Sí, pero socializando el capital

Directory of Open Access Journals (Sweden)

Silvio Salej Higgins

2005-07-01

Full Text Available A partir de O Capital S ocia! está na moda: aná!isepara sua reconstruido teórica (Salej: 2003, ofrecemos una sinopsis sobre la arquitectura teórica de uno de los conceptos más utilizados en las ciencias sociales durante la última década. En el nivel de la discusión sobre las transformaciones de las democracias del primer mundo (putnam: 2001, cuestionamos la tesis básica de que la merma del asociativismo cívico es el resultado de la modernización tecnológica y su concomitante cultura individualista. Por el contrario y en la misma linea de Rothstein (2001, construimos la hipótesis de que la disminución del capital social, denunciada por Putnam (1995, es correlativa al desmantelamiento de las políticas de asistencia social, con la consecuente caída en los indicadores de equidad. De modo prospectivo se presentan las preguntas- clave y las hipótesis para un programa de investigación alternativo y plausible sobre el capital social. Palabras clave: capital social, asociativismo cívico, integración social, equidad.

Where's the capital? A geographical essay.

Science.gov (United States)

Jones, Gareth A

2014-12-01

This paper is inspired by Thomas Piketty's book Capital in the Twenty-First Century. Piketty does a wonderful job of tracing income and wealth over time, and relating changes to trends of economic and population growth, and drawing out the implications for inequality, inheritance and even democracy. But, he says relatively little about where capital is located, how capital accumulation in one place relies on activities elsewhere, how capital is urbanized with advanced capitalism and what life is like in spaces without capital. This paper asks 'where is the geography in Capital' or 'where is the geography of capital in Capital'? Following Piketty's lead, the paper develops its analysis through a number of important novels. It examines, first, the debate that Jane Austen ignored colonialism and slavery in her treatment of nineteenth century Britain, second, how Balzac and then Zola provide insight to the urban political economy of capital later in the century, and third, how Katherine Boo attends to inequality as the everyday suffering of the poor. © London School of Economics and Political Science 2014.

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

OpenAIRE

北見, 幸一

2009-01-01

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

Levels of Social Capital in Internationalization

DEFF Research Database (Denmark)

Decker, Arnim

2016-01-01

This contribution introduces the notion of social capital and discusses integration into the studies on internationalization of smaller firms and entrepreneurs. Integrating social capital into the resource based perspective, we categorize social capital at three levels: firstly, social capital can...... be attributed to individuals, affecting their relationship with the external environment. Secondly, social capital is an inherent property of networks, into which smaller firms and entrepreneurs are embedded. Thirdly, social capital exists at the macro level, where its characteristics and availability varies...... between environments and nations. This contribution attemps to fascilitate the operationalization of social capital for an improved understanding of processes of internationalization of smaller firms and entrepreneurs....

Investing in human and natural capital. An alternative paradigm for sustainable development in Awassa, Ethiopia

International Nuclear Information System (INIS)

Reynolds, Travis W.; Farley, Joshua; Huber, Candice

2010-01-01

Ethiopia remains underdeveloped due to limitations in natural, human, social and built capital. A 2006 scientific atelier conducted in the city of Awassa, Ethiopia investigated investments in human and natural capital as a sustainable development strategy. Local stakeholders identified firewood shortages, degradation of croplands, rising lake levels encroaching on croplands and poor water quality as major impediments to development. They further identified ecological degradation as a key component of these problems, and they acknowledged multiple vicious cycles compounding the environmental and economic threats to the Awassa community. Proposed solutions included investment in natural capital in the form of reforestation activities, investment in human capital in the form of promoting more efficient wood stoves along with increasing public awareness of environmental threats, and investments in social capital in the form of inter-institutional coordination to address environmental problems. All recommended investments rely primarily on national resources, in distinct contrast to the extensive imports required for most built capital investments. Unfortunately, Awassa lacks the surplus necessary for major capital investments of any kind. The atelier therefore helped local participants identify potential funders and write grant proposals for various projects, though none have been funded so far. Reversing the ecological degradation on the scale necessary for sustained economic development in Ethiopia however will require a steady flow of substantial investments, and cannot rely solely on the short term generosity of funders. International payments for carbon sequestration and other ecosystem services could help provide the necessary resources. (author)

Investing in human and natural capital. An alternative paradigm for sustainable development in Awassa, Ethiopia

Energy Technology Data Exchange (ETDEWEB)

Reynolds, Travis W. [Evans School of Public Affairs, University of Washington, Seattle, Washington, 98195 (United States); Farley, Joshua [Gund Institute for Ecological Economics and Department of Community Development and Applied Economics, University of Vermont, Burlington, Vermont, 05405 (United States); Huber, Candice [UVM Agricultural Extension Service, University of Vermont, Burlington, Vermont, 05405 (United States)

2010-09-15

Ethiopia remains underdeveloped due to limitations in natural, human, social and built capital. A 2006 scientific atelier conducted in the city of Awassa, Ethiopia investigated investments in human and natural capital as a sustainable development strategy. Local stakeholders identified firewood shortages, degradation of croplands, rising lake levels encroaching on croplands and poor water quality as major impediments to development. They further identified ecological degradation as a key component of these problems, and they acknowledged multiple vicious cycles compounding the environmental and economic threats to the Awassa community. Proposed solutions included investment in natural capital in the form of reforestation activities, investment in human capital in the form of promoting more efficient wood stoves along with increasing public awareness of environmental threats, and investments in social capital in the form of inter-institutional coordination to address environmental problems. All recommended investments rely primarily on national resources, in distinct contrast to the extensive imports required for most built capital investments. Unfortunately, Awassa lacks the surplus necessary for major capital investments of any kind. The atelier therefore helped local participants identify potential funders and write grant proposals for various projects, though none have been funded so far. Reversing the ecological degradation on the scale necessary for sustained economic development in Ethiopia however will require a steady flow of substantial investments, and cannot rely solely on the short term generosity of funders. International payments for carbon sequestration and other ecosystem services could help provide the necessary resources. (author)

Social Capital in Rural Denmark

DEFF Research Database (Denmark)

Svendsen, G.L.; Svendsen, Gert Tinggaard

1999-01-01

What are the roots of social capital and how can it be measured and built? Social capital is considered as a new production factor which must be added to the conventional concepts of human and physical capital. Social capital is productive because it increases the level of trust in a society...... and allows more transactions to take place without third-party enforcement. Theory and lessons from empirical evidence lead to the general recommendation that any loss in social capital must be deducted from the economic gain following market forces. For example, the voluntary organization of small......-sized groups in the Danish Cooperative Dairy Movement was eliminated due to economies of scale. It may be so that an alternative way of production, taking social capital into account, could have increased economic growth further....

Impact of family capital & social capital on youth entrepreneurship – a study of Uttarakhand state, India

OpenAIRE

Sharma, Lalit

2014-01-01

The research paper intends to interpret how the three forms of family capital viz. family's financial capital, family's man power capital and family's human capital influences the career choice intention of students of HEI's of Uttarakhand, India. Additionally the study also evaluates the impact of student's individual social capital on his career intent. This is a quantitative study conducted at Uttarakhand state of India on a large sample of students studying in various professional courses...

Limited Capital Market Participation and Human Capital Risk

OpenAIRE

Jonathan Berk; Johan Walden

2010-01-01

The non-tradability of human capital is often cited for the failure of traditional asset pricing theory to explain agents' portfolio holdings. In this paper we argue that the opposite might be true --- traditional models might not be able to explain agent portfolio holdings because they do not explicitly account for the fact that human capital does trade (in the form of labor contracts). We derive wages endogenously as part of a dynamic equilibrium in a production economy. Risk is shared in l...

THE ANALYSIS OF CAPITAL MARKET INTEGRATION IN ASEAN REGION BY USING THE OGARCH APPROACH

Directory of Open Access Journals (Sweden)

Robiyanto Robiyanto

2017-04-01

Full Text Available Capital market integration is a topic that attracts a lot of research interests in regional and international capital markets. Unfortunately, the various studies that have been done tend to use analytical tools that have not been able to conclude the degree of capital market integration quantitatively, hence a study that is able to measure the degree of capital market integration quantitatively is required. This study investigated the capital markets integration in ASEAN by using the Orthogonal Generalized Autoregressive Conditional Heteroscedasticity (OGARCH method which could provide the degree of integration quantitatively. Capital markets studied were Indonesia Stock Exchange, Kuala Lumpur Stock Exchange, Thailand Stock Exchange, Singapore Stock Exchange and Philippines Stock Exchange during period of January 2001 – December 2016. The result of this study was there was a co-movement among ASEAN capital markets studied, but not all these ASEAN capital markets were fully integrated. This study also found that Indonesia Stock Exchange, Kuala Lumpur Stock Exchange, Stock Exchange Thailand, and Singapore Stock Exchange were integrated but Philippines Stock Exchange was not. The Philippines Stock Exchange tended to be segmented rather than integrated.

Preliminary engineering evaluation of heat and digest treatment for in-tank removal of radionuclides from complexed waste

International Nuclear Information System (INIS)

Klem, M.J.

1995-01-01

This report uses laboratory data from low temperature-ambient pressure digestion of actual complexed supernatant to evaluate digestion as a pretreatment method for waste in double-shell tanks 241-AN-102, 241-AN-107 and 241-AY-101. Digestion time requirements were developed at 100 degrees celsius to remove organic and meet NRC Class C criterion for TRU elements and NRC Class B criterion for 90Sr. The incidental waste ruling will establish the need for removal of 90Sr. Digestion pretreatment precipitates non radioactive metal ions and produces additional high-level waste solids and canisters of high level glass. This report estimates the amount of additional high-level waste produced and preliminary capital and operating costs for in-tank digestion of waste. An overview of alternative in-tank treatment methods is included

Pengaruh Profitabilitas Dan Likuiditas Terhadap Capital Adequacy Ratio (CAR) Pada Bank Rakyat Indonesia (PERSERO) Tbk

OpenAIRE

Situmorang, Patar Sardo

2011-01-01

There are several factor that influent in banking performance such as liquidity and profitability. There could be represented with its financial ratios which can predict banking performance on capital matter (Capital Adequacy Ratio). The purpose of this research is to test influence of the variabel Interest Margin Loan (IML), Return on Equity (ROE), Loan To Deposit Ratio (LDR), and Reserve Requirement (GWM) toward Capital Adequacy Ratio (CAR). Data was used in this research based on public...

Economic Analysis of Social Common Capital

Science.gov (United States)

Uzawa, Hirofumi

2005-06-01

Social common capital provides members of society with those services and institutional arrangements that are crucial in maintaining human and cultural life. The term æsocial common capital' is comprised of three categories: natural capital, social infrastructure, and institutional capital. Natural capital consists of all natural environment and natural resources including the earth's atmosphere. Social infrastructure consists of roads, bridges, public transportation systems, electricity, and other public utilities. Institutional capital includes hospitals, educational institutions, judicial and police systems, public administrative services, financial and monetary institutions, and cultural capital. This book attempts to modify and extend the theoretical premises of orthodox economic theory to make them broad enough to analyze the economic implications of social common capital. It further aims to find the institutional arrangements and policy measures that will bring about the optimal state of affairs.

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

NARCIS (Netherlands)

Inklaar, R.

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

DISPUTE RESOLUTION AND MEDIATION ON CAPITAL MARKET

Directory of Open Access Journals (Sweden)

CRISTIAN GHEORGHE

2011-04-01

Full Text Available Capital Market is usually depicted as a place for experts, for people with high trading skills. This is a half truth. There are entities established and functioning under strict scrutiny of Romanian National Securities Commission (RNSC, in compliance with Capital Market Law and regulations. There are also the investors, in many cases individuals involved in shares/financial instruments trade. In both cases disputes can rise. Disputes are inevitable a part of human interaction, hence the need for dispute resolution. First option is the judicial court system. Alternative dispute resolution comprises arbitration and mediation. Arbitration is an alternative choice to provide simpler, speedier and more accessible justice than ordinary courts as well as expertise in matters that are technical in nature and require special knowledge to adjudicate upon. Capital Market environment provides an institutional arbitration court for all participants, including investors. In many cases the agreement executed between participants under RNSC scrutiny The other option for settling disputes outside the court is mediation. Mediation can provide a much cheaper and quick extrajudicial resolution of disputes in commercial matters without time consuming procedures and rigid rules. Agreements resulting from mediation are more likely to be complied with voluntarily and are more likely to foster the commercial relationship between the parties. The interaction between investors and brokerage houses is based on investment services agreement concluded by parties. This is the usual framework for disputes between parties and the usual “landscape” for mediation on capital market.

Does Venture Capital Spur Innovation?

OpenAIRE

Samuel Kortum; Josh Lerner

1998-01-01

While policymakers often assume venture capital has a profound impact on innovation, that premise has not been evaluated systematically. We address this omission by examining the influence of venture capital on patented inventions in the United States across twenty industries over three decades. We address concerns about causality in several ways, including exploiting a 1979 policy shift that spurred venture capital fundraising. We find that the amount of venture capital activity in an indust...

Social capital, community-based governance and resilience in an ...

African Journals Online (AJOL)

While the Mozambique government policy promotes community-based fisheries management in artisanal fisheries, we argue that under current conditions of ineffective community-based governance, a strong focus on reconstruction of social capital will be required before a community-based resource management process ...

ACCOUNT INSTRUMENT CAPITAL BORROWED

Directory of Open Access Journals (Sweden)

Holt Gheorghe

2012-03-01

Full Text Available Setting up business capital is made from different sources and their use coordinates its policy aims, issues that affect the overall efficiency and thus differentiate companies with the same profile of activity and a similar level of capital advanced in the economic cycle. Thus financial structure, the average cost of capital used in the mechanism how the financial management of the company, of particular importance for this.

Social Capital and Educational Aspiration of Students: Does Family Social Capital Affect More Compared to School Social Capital?

Science.gov (United States)

Shahidul, S. M.; Karim, A. H. M. Zehadul; Mustari, S.

2015-01-01

Resources from multiple social contexts influence students' educational aspiration. In the field of social capital a neglected issue is how students obtain social capital from varying contexts and which contexts benefit them more to shape their future educational plan which consequently affects their level of aspiration. In this study, we aim to…

capital. A discussion paper

Directory of Open Access Journals (Sweden)

Ewa Chojnacka

2015-04-01

Full Text Available The purpose of this study is to confront certain propositions presented in Lesław Niemczyk’s publication Rachunkowość finansowa aktywów kompetencyjnych i kapitału intelektualnego. Nowy dział rachunkowości(Accounting for Competence Assets and Intellectual Capital. A New Area in Accounting with ideas published in other studies. The authors discuss issues concerning firm value, selected definitions of intellectual capital, as well as certain methods of intellectual capital measurement and valuation. Other problems analysed include accounting for and reporting of intellectual capital and similarities and differences between the way those issues are presented in Polish and in international studies as well as in existing legal regulations and standards.

Unsustainable growth, unsustainable capitalism

DEFF Research Database (Denmark)

Næss, Petter

2006-01-01

problems, but serve to further highlight the difficulties of changing capitalism towards sustainability. In a profit-oriented economy, capital accumulation is a prime driving force, and non-growth for the economy at large tends to result in serious economic and social crises. On the other hand, a de...... according to which the powers and mechanisms of the natural world are considered totally controllable by humans as if they were mere epiphenomena of the human world. On the other hand, the assumptions of certain ecological economists about the possibility of steady-state capitalism disregard the relation...... between capital and surplus value, which constitutes a strong mechanism driving the capitalist economy toward limitless growth....

Bank capital management : International evidence

NARCIS (Netherlands)

De Jonghe, O.G.; Öztekin, Ö.

We examine the dynamic behavior of bank capital using a global sample of 64 countries during the 1994-2010 period. Banks achieve deleveraging through active capital management (equity growth) rather than asset liquidation. In contrast, they achieve leveraging through passive capital management

Capitalism: A System of Conspiracy

OpenAIRE

Das, Subhendu

2010-01-01

There are some myths about American capitalism. Some of them are (1) Capitalism made America the richest nation, (2) Capitalism is based on self interest, and (3) America has democracy. We show that the survival of capitalism is based on several powerful conspiracy theories. We briefly describe these conspiracies. Our analysis is based on the following principles: (a) Laws of conservation, (b) System theoretic concepts, and (c) The global space time (GST) environment. Using these princip...

Macroeconomic Conditions and Capital Raising

OpenAIRE

Isil Erel; Brandon Julio; Woojin Kim; Michael S. Weisbach

2011-01-01

Do macroeconomic conditions affect firms' abilities to raise capital? If so, how do they affect the manner in which the capital is raised? We address these questions using a large sample of publicly-traded debt issues, seasoned equity offers, bank loans and private placements of equity and debt. Our results suggest that a borrower's credit quality significantly affects its ability to raise capital during macroeconomic downturns. For noninvestment-grade borrowers, capital raising tends to be p...

PENGARUH INTELLECTUAL CAPITAL TERHADAP KINERJA KEUANGAN PERUSAHAAN

Directory of Open Access Journals (Sweden)

Denny Andriana

2014-04-01

Full Text Available The purpose of this research is to examine the influence of intellectual capital and its components, represented by physical capital (capital employed, human capital, and structural capital,on financial performance of mining and manufacturing companies listed in Indonesia Stock Exchange (Bursa Efek Indonesia – BEI period of 2010 – 2012. Total population observed during this research shows 169 mining and manufacturing companies.The sample was determined by purposive sampling method and found a total of 70 samples as the research subjects. The analytical technique for the quantitaive data uses a statistical tool, i.e. multiple regression. Intellectual capital and its components were measured by Pulic Model, while financial performance uses Return on Equty (ROE ratio. The results show that intellectual capital and human capital have negative influence, yet insignificant, impacton companies financial performance. While physical capital (capital employed and structural capital do have positive influence but not significanton companies financial performance.

Social capital and the course of depression: six-month prospective cohort study.

Science.gov (United States)

Webber, Martin; Huxley, Peter; Harris, Tirril

2011-03-01

Previous research has found an inverse cross-sectional relationship between an individual's access to social capital (defined as resources embedded within social networks) and depression, but this relationship has not been rigorously tested in prospective research. This is the first longitudinal study to evaluate the effect of social capital on the course of depression and subjective quality of life in a clinical population. This was a six-month prospective cohort study of people with depression in primary care achieving a follow-up rate of 91.3% (n=158). Depression was measured with the HAD-D and social capital using the Resource Generator-UK. Potential confounding variables including socio-demographics, socio-economic status, depression history, social support, life events and attachment style were also measured. Social capital had no independent effect on the course of depression, though an interaction of access to social capital and attachment style was significantly related to change in quality of life alongside multiple covariates. The study used a small sample; a short follow-up period; no measure of ecological social capital; no genetic components; and only two time points. Emotional support is important for the alleviation of depression. Additionally, people with depression may require a secure attachment style to derive the full benefit of their social capital. Copyright © 2010 Elsevier B.V. All rights reserved.

Working Paper on Social capital

DEFF Research Database (Denmark)

Lassen Hanan, Anne

This paper outlines the major schools within social capital theory. Contemporary authors such as Coleman, Putnam and Bourdieu are elaborated on. The paper also presents a non-exhaustive review on studies of social capital. Furthermore, a criticial discussion on social capital is reviewed, before...

Venture Capital and Innovation Strategies

NARCIS (Netherlands)

Da Rin, Marco; Penas, Maria

2015-01-01

Venture capital investors are specialized financial intermediaries that provides funding for technological innovation with the goal of realizing a capital gain within a few years. We are the first to examine the association of venture capital funding with a company’s choice of innovation strategies.

Venture capital and innovation strategies

NARCIS (Netherlands)

Da Rin, Marco; Penas, Fabiana

2017-01-01

Venture capital investors are specialized financial intermediaries that provide funding for technological innovation with the goal of realizing a capital gain within a few years. We are the first to examine the association of venture capital funding with a company's choice of innovation strategies.

Capital regulation and tail risk

NARCIS (Netherlands)

Perotti, E.; Ratnovski, L.; Vlahu, R.

2011-01-01

The paper studies risk mitigation associated with capital regulation, in a context when banks may choose tail risk assets. We show that this undermines the traditional result that higher capital reduces excess risk-taking driven by limited liability. When capital raising is costly, poorly

Capital regulation and tail risk

NARCIS (Netherlands)

Perotti, E.; Ratnovski, L.; Vlahu, R.

2011-01-01

The paper studies risk mitigation associated with capital regulation, in a context where banks may choose tail risk assets. We show that this undermines the traditional result that higher capital reduces excess risk taking driven by limited liability. Moreover, higher capital may have an unintended

WHAT DETERMINES THE CAPITAL STRUCTURE OF LISTED FIRMS IN ROMANIA

Directory of Open Access Journals (Sweden)

Floriniţa Duca

2012-10-01

Full Text Available This paper examines the relative importance of four factors in the capital structure decisions of Romanian listed firms. The existing empirical research on capital structure has been largely confined to developed countries. The Romanian Financial Market has been developing at an exponential rate and dedicated research in the field is required. We used 100 firms listed in 2010 at the Bucharest Stock Exchange. The objective of this paper is to build on previous studies model all the important factors affecting capital structure decisions. We find that factors such as tangibility of assets, firm size, liquidity, and profitability have significant influences on the leverage structure chosen by firms.These results are believed to have significant implications for the theory of finance and to be of importance to the corporate treasure in choice of new financing and to the financial analyst.

INTELLECTUAL CAPITAL REPORTING: NEW ACCOUNTING FOR THE NEW ECONOMY

Directory of Open Access Journals (Sweden)

Peter Demediuk

2002-01-01

Full Text Available In the 'new economy', ideas, practices and innovations that arise from the creation of intellectual capital have become a pre-eminent economic resource and the basis for competitive advantage. Attempts to develop cogent accounting praxis that makes intellectual capital discussable and therefore actionable, are constrained by the granular nature of existing definitions and taxonomies of intellectual capital. As a response to this lack of clarity, a model has been proposed that maps how a group of knowledge workers characterise the drivers and outcomes of their human creativity. The model indicates that accounting must break away from the traditional frame of reference that is 'the artifact', 'the entity', 'management control' and 'uniform reporting models'. At issue is whether the same set of measurement tools can provide descriptions of reality that have meaning for the decision making of individuals, and yet provide appropriate resourcing signals, evaluative information, and signs of legitimacy that are required by institutional management and other stakeholders.

Intellectual Capital: Comparison and Contrast.

Science.gov (United States)

Madsen, Susan R.

2001-01-01

Suggests that one of the most important keys for improving individual and organizational performance is in developing and strengthening intellectual capital (IC) and explores the similarities and differences between the concepts of intellectual capital, human capital, and knowledge management. Presents four IC characteristics and addresses the…

49 CFR 611.9 - Project justification criteria for grants and loans for fixed guideway systems.

Science.gov (United States)

2010-10-01

... Transportation (Continued) FEDERAL TRANSIT ADMINISTRATION, DEPARTMENT OF TRANSPORTATION MAJOR CAPITAL INVESTMENT... entry into preliminary engineering and final design as required by section 5309(e)(6), FTA must find... through alternatives analyses and refined through preliminary engineering and final design. (1) The method...

Private equity and venture capital: investment fund structures in the Czech Republic

Directory of Open Access Journals (Sweden)

Marek Zinecker

2011-01-01

Full Text Available A working private equity and venture capital market (PE/VC market stimulates the business environment in a positive manner and impacts the level of economic growth of national economies. A study of the Austrian Private Equity and Venture Capital Organisation/AVCO (2004, p. 6 defines prerequisites for a correct operation of the PE/VC market. It views the legislative provision for suitable legal fund structures for PE/VC investments and their tax treatment as a key factor. In its publication, Private Equity & Venture Capital in the Czech Republic (2010, p. 14, the Czech Venture Capital Association/CVCA stresses that legal barriers are an important reason behind the limited scope of resources available to domestic PE/VC funds. Legal barriers prevent the establishment of a standard PE/VC fund in the territory of the Czech Republic, which fact in turn has a negative impact on the level of development of the domestic PE/VC market (fundraising, investment volumes, establishment of the infrastructure required for the operation of PE/VC funds. The purpose of this article is, based on an analysis of the relevant information sources, to assess how the current Czech legislation regulates the legal fund structures for PE/VC investments and their tax treatment. Proposals for a potential improvement of the situation are based on a comparison of the legislative framework applicable in the Czech Republic and the requirements defined by the European Venture Capital Association/EVCA, as well as the AVCO study (2004, 2006.

Review of Capitalism in the Web of Life. Ecology and Accumulation of Capital (Moore, 2015

Directory of Open Access Journals (Sweden)

Germán Palacio

2017-01-01

Full Text Available Jason Moore. 2015. Capitalism in the Web of Life. Ecology and Accumulation of Capital [Capitalismo en la red de la vida. Ecología y acumulación de capital]. London – New York: Verso Books. 336 pp. ISBN 978-1781689028.

Origem e ascensão do debate sobre o capital internacional na formação econômica brasileira (1889-1964 Origin and rise of the debate about international capital in the Brazilian economic formation (1889-1964

Directory of Open Access Journals (Sweden)

Alexandre Macchione Saes

2007-05-01

Full Text Available O artigo discute a origem e a ascensão do debate intelectual sobre o capital internacional na formação econômica brasileira, entre o início do período republicano e a eclosão do golpe militar em 1964. Esse período divide-se em “origem”, do final do século XIX a 1930, e “ascensão”, do Governo Vargas ao início do regime ditatorial em 1964. O primeiro momento situa os debates embrionários à problemática da atuação do capital estrangeiro que suscitaram as primeiras manifestações nacionalistas. A partir da Revolução de 1930, os governos se voltaram para a industrialização, mas tal estratégia jamais se mostrou plenamente autônoma à utilização de recursos externos. Nesse contexto histórico que, os pensadores brasileiros nos anos 50 e 60 passaram a debater sobre a questão do capital estrangeiro versus capital nacional naquele padrão de desenvolvimento que se consolidava. Palavras-chave: Capital internacional. Vias de desenvolvimento. Debate intelectual. The article discusses the origin and rise of the debate about international capital in the Brazilian economic formation, between the inception of the Republican period and the launch of 1964 coup d’etat. This period is divided into “origin”, from the last decade of 19^th century to 1930, and “rise”, from the Vargas government to the military government in 1964. The first moment shows the preliminary debates arising from issues regarding the foreign capital dynamic that promoted the initial nationalistic manifestations. As of the 1930 revolution, governments invested in industrialization, but this strategy was never fully autonomous from the utilization of foreign resources. Within in this historical context, Brazilian intellectuals in the 50’s and 60’s started to discuss the foreign versus national capital issues in that new development pattern that was being setting across the country. Keywords: International capital. Ways of

The Option Value of Human Capital

OpenAIRE

Yongseok Shin; Sang Yoon (Tim) Lee

2013-01-01

We study college enrollment and completion decisions in the presence of risk in individuals' returns to college. Although the human capital acquired through education is irreversible (i.e., it cannot be decumulated or sold off), college education comes with two inherent options: (i) college students may drop out after obtaining additional information on their post-graduation wages and (ii) college graduates may take jobs that does not require a college degree, effectively protecting themselve...

Intellectual capital and relational capital: The role of sustainability in developing corporate reputation

OpenAIRE

Patricia Martínez García de Leaniz; Ignacio Rodríguez del Bosque

2013-01-01

Purpose: Intellectual capital offers a potential source of sustainable competitive advantage and is believed to be the source from which economic growth may sprout. However, not many papers analyze the effect of sustainability in the elements involving intellectual capital. This paper seeks to highlight the key role played by corporate sustainability on corporate reputation as one of the key components of relational capital based on the knowledge-based theory.Design/methodology/approach: Auth...

OPEC production: Capital limitations, environmental movements may interfere with expansion plans

International Nuclear Information System (INIS)

Ismail, I.A.H.

1994-01-01

Obtaining capital is a critical element in the production expansion plans of OPEC member countries. Another issue that may impact the plans is the environmental taxes that may reduce the call on OPEC oil by 5 million b/d in 2000 and about 16 million b/d in the year 2010. This concluding part of a two-part series discusses the expansion possibilities of non-Middle East OPEC members, OPEC's capital requirements, and environmental concerns. Non-Middle East OPEC includes Algeria, Gabon, Indonesia, Libya, Nigeria, and Venezuela

Handbook of Social Capital

DEFF Research Database (Denmark)

The Handbook of Social Capital balances the ‘troika' of sociology, political science and economics by offering important contributions to the study of bonding and bridging social capital networks. This inter-disciplinary Handbook intends to serve as a bridge for students and scholars within all...... the social sciences. The contributors explore the different scientific approaches that are all needed if international research is to embrace both the bright and the more shadowy aspects of social capital....

Modern Human Capital Management

OpenAIRE

Feldberger, Madita

2008-01-01

Title: Modern Human Capital Management Seminar date: 30th of May 2008 Course: Master thesis in Business Administration, 15 ECTS Authors: Madita Feldberger Supervisor: Lars Svensson Keywords: Human capital, SWOT Analysis, Strategic Map, Balanced Scorecard Research Problem: Despite of the success of Human Capital Management (HCM) in research it did not arrive yet in the HR departments of many companies. Numerous firms even have problems to set their strategic goals with focus on HR. The HR Bala...

The "Network Ethic" and the New Spirit of Capitalism in French Sociology of Capitalism

DEFF Research Database (Denmark)

Jagd, Søren

2005-01-01

forms of organisation have received less attention. In this paper I discuss a recent French contribution to the analysis of the cultural aspects of networks: Boltanski & Chiapello’s book Le nouvel esprit du capitalisme (Boltanski and Chiapello 1999). The contribution is important for recent discussions...... of a network perspective on organisations in several ways. First, drawing on Weber’s earlier discussion of the rise of the capitalist spirit, Boltanski and Chiapello proposes an interesting theoretical model of the change of capitalism relating two different types of cultural elements: the ‘spirit...... of capitalism’ and criticism of capitalism to processes of change in the form of capitalism. Second, Boltanski and Chiapello directs a critical perspective on the emergent model of ‘network capitalism’ and its accompanying spirit applying the theoretical framework of ‘worlds of justification’ developed earlier...

Exploring the social capital grid

DEFF Research Database (Denmark)

Svendsen, Gunnar Lind Haase; Patulny, Roger

2007-01-01

The purpose of this paper is to show that numerous studies have advanced social capital research over the past decade. Most studies have accepted the theoretical distinction between bonding and bridging social capital networks. Many, however, tend to agglomerate empirical research under the one...... catch-all social capital concept, rather than classifying it according to the bonding/bridging distinction. Furthermore, most studies make little distinction on the basis of methodology, between qualitative and quantitative approaches to investigating social capital. These omissions need to be addressed....

Immigrant Capital and Entrepreneurial Opportunities

Directory of Open Access Journals (Sweden)

Malavika Sundararajan

2016-01-01

Full Text Available Objective: The main objective of this study is to define and operationalize the concept of immigrant capital, a key factor that differentiates immigrant from host country entrepreneurs in how they recognize and start new ventures. Research Design & Methods: A detailed analysis of contemporary immigrant entrepreneurship and opportunity recognition literature was carried out. Using grounded theory, we synthesized the outcomes from the analysis of eight Canadian and U.S. case studies of successful immigrant entrepreneurs with the key findings from the literature to define and develop a model of immigrant capital. Findings: Based on our grounded theory development process we show that the concept of immigrant capital as a distillate of human, cultural, economic and social capital that goes beyond expected opportunity recognition (OR drivers like prior knowledge and prior experience to differentiate and enhance the immigrant entrepreneur’s ability to recognize business opportunities compared to host country entrepreneurs. We found immigrant capital to be a consequence of being boundary spanners in host and home country networks. Implications & Recommendations: Understanding a unique resource like immigrant capital, will help immigrant as well as host country entrepreneurs further develop their opportunity recognition ability by bridging gaps and fulfilling the needs for both, immigrant and host country consumers. Contribution & Value Added: The main contribution is the theoretical development, identification and definition of the immigrant capital model and propositions that will articulate the factors that lead to the conceptualization and operationalization of immigrant capital. Furthermore, the immigrant capital model can serve host country entrepreneurs to develop cross-cultural networks and jump-start entrepreneurial activities in their home countries as well as learn how to expand their operations into global markets.

Asset management and the calculation of capital costs for mains-usage fees

International Nuclear Information System (INIS)

Huser, A.; Liggenstorfer, S.; Bill, M.

2007-01-01

This article discusses the requirements stipulated in the Swiss Electricity Supply Law that capital costs for all mains-levels must be declared on a yearly basis. The costs are calculated from current market value and depreciation according to technical lifetime. The authors examine the requirements placed on the declaration of capital costs and how they are calculated. The detailed book-keeping needed is discussed as is the large volume of data involved. The role of existing mains information systems is looked at, as are methods of assessing current assets. Experience gained in practice is discussed: This is taken as the basis for future processes. Utilities participating in the project and a number of solutions available are noted

Does human capital matter? A meta-analysis of the relationship between human capital and firm performance.

Science.gov (United States)

Crook, T Russell; Todd, Samuel Y; Combs, James G; Woehr, David J; Ketchen, David J

2011-05-01

Theory at both the micro and macro level predicts that investments in superior human capital generate better firm-level performance. However, human capital takes time and money to develop or acquire, which potentially offsets its positive benefits. Indeed, extant tests appear equivocal regarding its impact. To clarify what is known, we meta-analyzed effects drawn from 66 studies of the human capital-firm performance relationship and investigated 3 moderators suggested by resource-based theory. We found that human capital relates strongly to performance, especially when the human capital in question is not readily tradable in labor markets and when researchers use operational performance measures that are not subject to profit appropriation. Our results suggest that managers should invest in programs that increase and retain firm-specific human capital.

77 FR 53059 - Risk-Based Capital Guidelines: Market Risk

Science.gov (United States)

2012-08-30

...'' framework that includes (1) Risk-based capital requirements for credit risk, market risk, and operational... default and credit quality migration risk for non-securitization credit products. With respect to... securitization positions, the revisions assign a specific risk- weighting factor based on the credit rating of a...

78 FR 43829 - Risk-Based Capital Guidelines; Market Risk

Science.gov (United States)

2013-07-22

... have no practical impact on the rules that apply to the provision of official export credits.'' \\8\\ \\7... treatment of certain securitization positions under the SSFA with regard to determining the delinquency of... increase the capital requirements for a securitization exposure when delinquencies in the underlying assets...

12 CFR 932.7 - Reporting requirements.

Science.gov (United States)

2010-01-01

... to the Finance Board by the 15th business day of each month its risk-based capital requirement by... Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL... close of business of the last business day of the preceding month, or more frequently, as may be...

SOCIAL CAPITAL AND CIVIC PARTICIPATION

Directory of Open Access Journals (Sweden)

Melike ERDOGAN

2010-07-01

Full Text Available The concept of social capital has a long intellectual history in the fie ld of social sciences. In recent years, interest of scholars from sociology, po litical science, economics and public administration is rapidly increasing. The reason for this increasing interest is that it has been aware of the importance of social capital in communities’ administrative, social, economic and political development. In this sense, the concept of social ca pital is an issue to be discussed with solution of current problems of public administration, subjects of governance, civil society, and participation. Social capital has a lot of definitions which are completely different from each other. Common point of these different definitions is that social capital is a resource at both individual and community level. We will use Robert Putnam’s defi nition about social cap ital in this paper. Putnam (1993 defines social capital as “features of social organization, such as trust, norms, and networks that can improve the efficiency of society by facilitating coordinated action”. In his book; Bowling Alone: The Collapse and Revival of the American Community, Putnam describes declining social capital in America. He analyzes relationship between social capital and civic participation and assumes that there is a positive relationship between social capital and civic participation. The paper aims to reveal how there is a relationshi p between social capital and civic participation in Central Florida. We will use “The Central Florida Social Capital Community Benchmark Survey that is made by The Survey Research Labora tory in the Ins titute for Social and Behavior Sciences at the University of Central Florida among central Florida residents. We use notion of civic participation not only as voting but also as concern of politics, volunteering, attending a political meeting, participating in any demonstrations, protests or boycotts, cooperating to solve problems and

Social capital and localised learning

DEFF Research Database (Denmark)

Lorenzen, Mark

2007-01-01

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

THE INSTITUTIONAL CONTENT OF THE HUMAN CAPITAL OF THE NATIONAL ECONOMY

Directory of Open Access Journals (Sweden)

Viktoriia Kolomiiets

2017-12-01

Full Text Available In the current conditions of transformation of traditional institutes and institutions and formation of a new institutional state, the institutional content of human capital as the most valuable resource of the economy changes. Along with the existing research, the transformation of the old institutional system and the emergence of new institutes and institutions require an analysis of the updated institutional content of the human capital of the national economy. The purpose of the paper – to reveal the institutional content of the human capital of the national economy. In the process of work, the following tasks are set and solved: to study economic and institutional conditions of functioning of human capital, to determine the material content of human capital in the context of institutionalism and the process of institutionalization of human capital. Methodology. A methodological basis is a dialectical approach. To study the institutional content of human capital, abstract-logical and systemstructural methods are used. Results. Economic conditions for the formation and functioning of human capital are determined by the instability of the economic situation in Ukraine caused by the fall in the gross domestic product, the inappropriate growth of prices and wages, inflation, and military-political confrontation. Institutional conditions of Ukraine accumulate the following components: those that remained from the previous regimes; transformed components, imported components. The large financial capital, business structures, shadow economy, public sector of the country interact on a fundamentally different institutional basis. The main factor characterizing the institutional development of our country is the uncertainty of limits of institutionalization. The essential institutional conditions for the functioning of human capital are also the absence of a positive or negative experience of existence, coexistence of certain institutions in a

Evaluation of the effect of sector capital assets use efficiency on capital productivity ratio in Ukraine

Directory of Open Access Journals (Sweden)

Ohdanskiy K. M.

2015-05-01

Full Text Available The real state of the capital assets’ disposal through the national economy sectors is determined in comparison with the result of capital assets use in the country’s economic complex in general in the time period of 1990-2012. It has been proved that the apparent total results regarding efficiency achieved in capital assets use through the sectors of economy do not demonstrate their real effect on the capital productivity ratio of the national economy in the whole. Analysis of the effect of the labor instruments concentrated in the national economy sectors on the national capital productivity ratio has been made. The sectors with their stuff which really determine the level of capital assets use in the country have been identified. Existence and development of the institute of economic initiatives have been proved. The fact is that the economic initiatives mentioned above concentrate their efforts on the improvement of capital assets use and the need to attract attention of the subjects of economic activities to the social development concept.

Knowledge Dynamics Impact on Intellectual Capital in Organizations

Directory of Open Access Journals (Sweden)

Ruxandra BEJINARU

2016-12-01

Full Text Available The purpose of this paper is to show the influence of knowledge dynamics processes upon the intellectual capital in organizations. In the literature, the authors focus on knowledge dynamics and knowledge management or intellectual capital but very few papers discuss the influence of knowledge dynamics upon the structure and functionality of intellectual capital in organizations. We use a conceptual approach based on the theory of multifield organizational knowledge and the theory of organizational integrators to demonstrate that intellectual capital structure results from the organizational knowledge dynamics. The well-known model of intellectual capital based on human capital, structural capital and relational capital appears as a meta-model that can be decomposed into rational capital, emotional capital and spiritual capital in organizations.

State Capitalism in Eurasia

NARCIS (Netherlands)

C. Spechler, Martin; Ahrens, Joachim; Hoen, Herman W.

2017-01-01

The book specifies the type of economic system that has arisen in Central Asian. It presents three types of state-capitalism established in the former Soviet Union states in Eurasia - crony, dual sector, and predatory capitalism.

The Agrupation-Cluster of Knowledge. The intellectual capital of Vasque Country

International Nuclear Information System (INIS)

Panera Mendieta, F.; Luengo Valderrey, M. J.; Perianez Canadillas, I.; Panda Garcia, J.

2007-01-01

This paper seeks to identify the influence of the activities of the Agrupacion-Cluster de Conocimiento in the improvement of the Intellectual Capital of its partners, especially of their Relational Capital through the generation of inter-organizational spaces for our organizations in the Basque Country. The transmission of this knowledge requires the physical proximity of the people between whom the exchange can to be made. This exchange is facilitated when spaces are created with an atmosphere of total confidence and equality, in which one can express in complete liberty. (Author)

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

Directory of Open Access Journals (Sweden)

Changjun Zheng

2017-04-01

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

Changing Endogenous Development: the Territorial Capital

Directory of Open Access Journals (Sweden)

Balázs István Tóth

2011-12-01

Full Text Available The aim of this research is to analyze territorial capital as a new paradigm to make best use of endogenous assets. The study is dealing with the preconditions, meaning and possible theoretical taxonomies of territorial capital. In this study I emphasize that the cumulative effects of regional potentials are more important than economies of scale and location factors. I present different approaches and interpretations of territorial capital, then make an attempt to create an own model. I try to find answers for questions, such as why territorial capital shows a new perspective of urban and regional development; how cognitive elements of territorial capital provide increasing return; how territorial capital influences competitiveness and what kind of relation it has with cohesion.

An Economic Viewpoint on Capitalism Bashing

Directory of Open Access Journals (Sweden)

Burnete Sorin

2016-12-01

Full Text Available In this paper I discuss two long disputed notions: that capitalism without crises is a fallacy respectively that capitalism bashing, however severe, will not endanger the system itself. Yet proving both is not an easy task since the capitalism issue has always been a cupellation of theory, ideology and political precepts, which are controversial and hard to disentangle. That capitalism detractors are numberless is a truism. Yet criticism against capitalism, however fierce, has always been clearly delineated. Not any more: globalization has rendered the picture dangerously fuzzy. It is now hard to ascertain whether someone who will harangue about the ostensible evils of globalization is also a declared anti-capitalist. The blend of capitalism and globalization seems to be pure dynamite.

The impact of Energy Performance Certificates on the rental and capital values of commercial property assets

Energy Technology Data Exchange (ETDEWEB)

Fuerst, Franz, E-mail: ff274@cam.ac.uk [Department of Land Economy, University of Cambridge, 19 Silver Street, Cambridge, CB3 9EP (United Kingdom); McAllister, Patrick [Real Estate and Planning, Henley Business School, University of Reading, RG6 5UD (United Kingdom)

2011-10-15

This paper focuses on the effect of energy performance ratings on appraised capital values, rental values and equivalent yields of UK commercial property assets. The study is based on a cross-section of 708 commercial property assets. Incorporating a range of potential confounding factors such as unexpired lease term, vacancy rate and tenant credit risk, we use hedonic regression procedures to estimate the effect of EPC rating on rental and capital values. The study finds no evidence of a significant relationship between environmental and/or energy performance and rental and capital values. A small subset of 24 BREEAM-rated assets is also tested for significant price effects but a statistically significant effect is only confirmed for equivalent yields. Similarly, there was no evidence that the EPC rating had any effect on Market Rent or Market Value with only minor effects of EPC ratings on equivalent yields. The preliminary conclusion is that energy labelling is not yet having the effects on Market Values and Market Rents that would be expected if high EPC ratings were associated with substantial cost savings that are fully reflected in capital values and/or were readily available and taken into account by prospective tenants and buyers. - Highlights: > Finds no significant effect of EPC ratings on commercial real estate values. > Expected relationships with other price determinants, e.g. age, location confirmed. > Analysis provides some support for effect of EPC and BREEAM rating on yields.

The impact of Energy Performance Certificates on the rental and capital values of commercial property assets

International Nuclear Information System (INIS)

Fuerst, Franz; McAllister, Patrick

2011-01-01

This paper focuses on the effect of energy performance ratings on appraised capital values, rental values and equivalent yields of UK commercial property assets. The study is based on a cross-section of 708 commercial property assets. Incorporating a range of potential confounding factors such as unexpired lease term, vacancy rate and tenant credit risk, we use hedonic regression procedures to estimate the effect of EPC rating on rental and capital values. The study finds no evidence of a significant relationship between environmental and/or energy performance and rental and capital values. A small subset of 24 BREEAM-rated assets is also tested for significant price effects but a statistically significant effect is only confirmed for equivalent yields. Similarly, there was no evidence that the EPC rating had any effect on Market Rent or Market Value with only minor effects of EPC ratings on equivalent yields. The preliminary conclusion is that energy labelling is not yet having the effects on Market Values and Market Rents that would be expected if high EPC ratings were associated with substantial cost savings that are fully reflected in capital values and/or were readily available and taken into account by prospective tenants and buyers. - Highlights: → Finds no significant effect of EPC ratings on commercial real estate values. → Expected relationships with other price determinants, e.g. age, location confirmed. → Analysis provides some support for effect of EPC and BREEAM rating on yields.

Social Capital and Online Games

OpenAIRE

Safferling, Christoph

2011-01-01

We use data from an online game economy and econometric matching methods to test whether social capital of players has an impact on game success. Membership in a 'clan', a voluntary organization of players, positively impacts game success. Hence, social capital has a positive effect on outcomes. Yet, top performers do not gain from access to this social capital.

A Typology of Social Capital and Associated Network Measures

OpenAIRE

Jackson, Matthew O.

2017-01-01

I provide a typology of social capital, breaking it down into seven more fundamental forms of capital: information capital, brokerage capital, coordination and leadership capital, bridging capital, favor capital, reputation capital, and community capital. I discuss how most of these forms of social capital can be identified using different network-based measures.

Human capital in the nursing management of hospitals.

Science.gov (United States)

Cordeiro, Ana Lúcia Arcanjo Oliveira; Fernandes, Josicélia Dumêt; Mauricio, Maria Deolinda Antunes Luz Lopes Dias; Silva, Rosana Maria de Oliveira; Barros, Claudia Silva Marinho Antunes de; Romano, Cátia Maria Costa

2017-08-17

To analyze how the components of human capital are used in the nursing management of hospital organizations. This was an exploratory and qualitative study. Data collection took place between October 2014 and May 2015 using semi-structured interviews. The data were analyzed according to content analysis. Twelve nurse managers participated. The components of human capital used by the nurses in personnel management were: during the hiring process, when requiring specialized education in the field and prior professional experience; when retaining talents with promotion strategies; in building capacities of professionals through support and training; and in collective work to construct processes and outcome assessment. The components of human capital need to be managed strategically with a focus on professional skills and development, with the aim of transforming individual and collective knowledge into new technology. Analisar como os componentes do capital humano são utilizados na gestão de enfermeiras em organizações hospitalares. Estudo exploratório, com abordagem qualitativa. A coleta de dados ocorreu de outubro de 2014 a maio de 2015 com a utilização de entrevistas semiestruturadas. Os dados foram analisados segundo a análise de conteúdo. Participaram 12 gestoras de enfermagem. Os componentes do capital humano utilizados pelas enfermeiras na gestão de pessoas foram: no processo admissional ao utilizar como critérios para contratação a exigência de especialização na área e experiência profissional prévia; na manutenção de talentos com estratégias de promoção; na capacitação de profissionais com apoio e treinamento; e no trabalho coletivo para a construção dos processos e avaliação dos resultados. Os componentes do capital humano precisam ser gerenciados estrategicamente com foco nas competências e no desenvolvimento do profissional, visando transformar os conhecimentos individuais e coletivos em novas tecnologias.

Individual social capital and survival

DEFF Research Database (Denmark)

Ejlskov, Linda; Mortensen, Rikke N; Overgaard, Charlotte

2014-01-01

BACKGROUND: The concept of social capital has received increasing attention as a determinant of population survival, but its significance is uncertain. We examined the importance of social capital on survival in a population study while focusing on gender differences. METHODS: We used data from...... a Danish regional health survey with a five-year follow-up period, 2007-2012 (n = 9288, 53.5% men, 46.5% women). We investigated the association between social capital and all-cause mortality, performing separate analyses on a composite measure as well as four specific dimensions of social capital while...... controlling for covariates. Analyses were performed with Cox proportional hazard models by which hazard ratios and 95% confidence intervals were calculated. RESULTS: For women, higher levels of social capital were associated with lower all-cause mortality regardless of age, socioeconomic status, health...

Human capital and career success

DEFF Research Database (Denmark)

Frederiksen, Anders; Kato, Takao

capital formally through schooling for career success, as well as the gender gap in career success rates. Second, broadening the scope of human capital by experiencing various occupations (becoming a generalist) is found to be advantageous for career success. Third, initial human capital earned through......Denmark’s registry data provide accurate and complete career history data along with detailed personal characteristics (e.g., education, gender, work experience, tenure and others) for the population of Danish workers longitudinally. By using such data from 1992 to 2002, we provide rigorous...... formal schooling and subsequent human capital obtained informally on the job are found to be complements in the production of career success. Fourth, though there is a large body of the literature on the relationship between firm-specific human capital and wages, the relative value of firm-specific human...

The Genesis of Capitalism

DEFF Research Database (Denmark)

Li, Xing

2004-01-01

 This paper aims to offer a framework of interpreting the “evolution” of capitalism that is reaching every corner of the world and has achieved greater legitimacy than at any time in human history. It covers an interdisciplinary discussion on the development of market capitalism that has been...... characterized by a dual process: unanticipated origin (cultural and historical) and anticipated progress (political economy). The point of departure of this paper is that although the advancement of market capitalism is a process of societal development involving historical, cultural and religious causes...... (historical, divine, spiritual, miraculous), the establishment of capitalism is less the result of a force for cultural and economic dynamism than the realization of a political project. In other words, from being an enterprise within defined geographical boundaries to becoming a global project is first...

Analysis of capital and operating costs associated with high level waste solidification processes

International Nuclear Information System (INIS)

Heckman, R.A.; Kniazewycz, B.G.

1978-03-01

An analysis was performed to evaluate the sensitivity of annual operating costs and capital costs of waste solidification processes to various parameters defined by the requirements of a proposed Federal waste repository. Five process methods and waste forms examined were: salt cake, spray calcine, fluidized bed calcine, borosilicate glass, and supercalcine multibarrier. Differential cost estimates of the annual operating and maintenance costs and the capital costs for the five HLW solidification alternates were developed

El capital humano en el sistema de precios Human capital in the price system

Directory of Open Access Journals (Sweden)

Cuevas Homero

1996-06-01

Full Text Available Este ensayo explora algunas implicaciones fundamentales de la introducción del capital humano en un sistema de equilibrio general de precios de producción. En particular, las implicaciones sobre las determinación de los salarios, los agregados, la homogeneidad del modelo de trabajo, las proporciones capital trabajo, la tasa natural del beneficio y las fluctuaciones de los precios de equilibrio.This essay explores some fundamental implications of the introduction of human capital in a system of general equilibrium of prices of production. In particular, the implications concerning the determination of wages, the aggregates, the homogenei ty of labor, the capital-labor ratio, the natural rate of profit and the fluctuations of equilibrium prices.

Licensing support system preliminary needs analysis: Volume 1

International Nuclear Information System (INIS)

1989-01-01

This Preliminary Needs Analysis, together with the Preliminary Data Scope Analysis (next in this series of reports), is a first effort under the LSS Design and Implementation Contract toward developing a sound requirements foundation for subsequent design work. Further refinements must be made before requirements can be specified in sufficient detail to provide a basis for suitably specific system specifications. This preliminary analysis of the LSS requirements has been divided into a ''needs'' and a ''data scope'' portion only for project management and scheduling reasons. The Preliminary Data Scope Analysis will address all issues concerning the content and size of the LSS data base; providing the requirements basis for data acquisition, cataloging and storage sizing specifications. This report addresses all other requirements for the LSS. The LSS consists of both computer subsystems and non-computer archives. This study addresses only the computer subsystems, focusing on the Access Subsystems. After providing background on previous LSS-related work, this report summarizes the findings from previous examinations of needs and describes a number of other requirements that have an impact on the LSS. The results of interviews conducted for this report are then described and analyzed. The final section of the report brings all of the key findings together and describes how these needs analyses will continue to be refined and utilized in on-going design activities. 14 refs., 2 figs., 1 tab

Preliminary design and estimate of capital and operating costs for a production scale application of laser decontamination technology

International Nuclear Information System (INIS)

Pang, Ho-ming; Edelson, M.C.

1994-01-01

The application of laser ablation technology to the decontamination of radioactive metals, particularly the surfaces of equipment, is discussed. Included is information related to the design, capital and operating costs, and effectiveness of laser ablation technology, based on commercial excimer and Nd:YAG lasers, for the decontamination of production scale equipment

The Empirical Analysis of the Impact of Bank Capital Regulations on Operating Efficiency

Directory of Open Access Journals (Sweden)

Josephat Lotto

2018-03-01

Full Text Available This paper principally aims at examining the impact of capital requirements regulation on bank operating efficiency in Tanzania. The study employs bank level data for the period between 2009 and 2015. The findings show a positive and significant relationship between capital ratio and bank operating efficiency. This shows that commercial banks in Tanzania with more stringent capital regulations are more operationally efficient. This relationship proposes that capital adequacy does not only strengthen financial stability by providing a larger capital cushion but also improves bank operating efficiency by preventing a moral hazard problem between shareholders and debt-holders. This result may also imply that the increased regulations on capital requirements influence the bank’s decision to revisit their internal operations strategy in terms of strong corporate governance, risk assessment methods, credit evaluation procedures, employment of more qualified staffs, and enhanced internal control procedures. Another key finding is an inverse relationship between non-performing Loans (credit risk and bank operating efficiency. The implication of this relationship may simply mean that the bank’s total loan and advances in combination with total deposit either due from customers or from other banks are of little importance in determining the operational efficiency of banks. This probably implies that the amount of money banks loan out is too excessive, which would attract a greater chance of default. The paper lays down some recommendations: first, banks in Tanzania are advised to invest in more advanced technological innovations to reduce the staff costs and other operating expenses to increase their operational efficiency; and, second, bank management is also advised to be more careful in the loan screening process to reduce the incidence of non-performing loans.

Venture capital and internationalization

NARCIS (Netherlands)

Schertler, A.G.; Tykvova, T.

Cross-border investments represent a substantial share of venture capital activities. We use a comprehensive dataset on investments worldwide to analyze the internationalization of venture capital financing. We postulate that cross-border activity is shaped by macroeconomic factors in the venture

78 FR 76521 - Risk-Based Capital Guidelines; Market Risk

Science.gov (United States)

2013-12-18

... ``[t]his means that the change has no practical impact on the rules that apply to the provision of... delinquency of the underlying exposures as discussed below. Among the inputs to the SSFA is the ``W'' parameter, which increases the capital requirements for a securitization exposure when delinquencies in the...

Cost of capital to the hospital sector.

Science.gov (United States)

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

1988-03-01

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

CAPITAL FLOWS AND THEIR SECTORAL DESTINATIONS

Directory of Open Access Journals (Sweden)

Petris Sorina

2012-07-01

Full Text Available Since 2003, New European Union Member States have made large capital inflows, which led to a credit crunch and recession. Whether they are foreign direct investment, or banking flows, capital inflows ultimately affect GDP, depending on how they are invested. In the specialty literature, analysis of capital flows was done especially in terms of their structure, with a lack of analysis in terms of final destination of capital inflows. Therefore, we analyzed the effect of capital inflows on GDP in the New Member States of the European Union (Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania and Slovakia over the last economic cycle. Based on experiences of the new Member States during the recent boom and crisis, the paper studies the impact of capital inflows on GDP growth, inflows channeled to economic sectors, such as real estate and corporate investment sector. The results of this research tries to highlight the extent to which the final destination of capital flows is important for the evolution of GDP.

Credit Unions and Capital Adequacy: Managing Growth and Risk

Directory of Open Access Journals (Sweden)

R. Raymond Sant PhD, CFA, CMA

2013-07-01

Full Text Available In this paper we argue that a financial institution needs to continuously monitor and assess its risk exposure in the context of capital requirements and available growth opportunities. Judicious management of the interaction between these three elements is crucial to the long term survival and growth of such an institution. We highlight different approaches to risk analysis, beyond stress testing, such as, Value at Risk and Monte Carlo simulation. We recommend that the board of directors establish a sub-committee of its directors to oversee risk management and capital control functions, and to monitor a credit union’s asset liability management activities on an ongoing basis. Efforts should also be made to increase the level of internal expertise regarding risk management and analysis with the full participation of the board, a function that should not be outsourced. In an increasingly regulated financial industry environment it is imperative that a financial institution seeks out growth opportunities while maintaining the balance between capital and risk exposure for long-term business continuity.

77 FR 52887 - Regulatory Capital Rules: Standardized Approach for Risk-Weighted Assets; Market Discipline and...

Science.gov (United States)

2012-08-30

... Discipline and Disclosure Requirements; Proposed Rule #0;#0;Federal Register / Vol. 77 , No. 169 / Thursday... Assets; Market Discipline and Disclosure Requirements AGENCY: Office of the Comptroller of the Currency... Approach NPR) includes proposed changes to the agencies' general risk-based capital requirements for...

Sustainable venture capital – catalyst for sustainable start-up success?

NARCIS (Netherlands)

Bocken, N.M.P.

2015-01-01

To address global sustainability challenges, major investments are required in sustainable businesses that deliver triple bottom line results. Although interest in sustainable businesses is on the rise, these businesses are not yet widespread. Venture capital investment has a key role to play in the

Interning and Investing: Rethinking Unpaid Work, Social Capital, and the “Human Capital Regime”

Directory of Open Access Journals (Sweden)

Sophie Hope

2015-09-01

Full Text Available For young workers, interning is a strategy for speculating on one’s asset portfolio. Students and graduates undertake internships as a way of maintaining their self-appreciation and avoiding depreciation in a “human capital regime.” In this article, we explore the specific example of interning in the creative industries as the self-management of human capital vis-à-vis the human capital theses. Taking three cultural objects and recent representations of the issue of unpaid internships—Intern magazine, an advert for a “volunteering opportunity” student placement, and testimonies from interns—we analyze how unpaid work in the creative industries and the neoliberal version of human capital entrepreneurship can be seen as embodied by interns.

To a question about the price of possible errors regulatory capital of banks

Directory of Open Access Journals (Sweden)

Judina Irina Nikolaevna

2015-11-01

This article aims at showing the way the strengthened requirements to capital for commercial banks, observed at international and national levels, fail to manage risks and can even cause them. The comparative analysis of the negotiated agreements (from Basel I to Basel III as well as the analysis of the USA bank capital assessment rules make us come to a conclusion that undeliberate mistakes in regulation practice can result in great consequences, such as systemic financial crises.

IPSAS versus National Norms on Public Institutions' Own Capitals

OpenAIRE

Ecobici, Nicolae

2008-01-01

In this paper I have compared international standards on accounting for the public sector and those required by national norms on public institutions' own capitals, pointing out both convergences and divergences. Last, but not the least, I have compared IPSAS 1 (applied by public institutions) with IAS 1 (applied by commercial companies).

Should We Use a Capital Framework to Understand Culture? Applying Cultural Capital to Communities of Color

Science.gov (United States)

Hinton, Kip Austin

2015-01-01

Social science research on communities of color has long been shaped by theories of social and cultural capital. This article is a hermeneutic reading of metaphorical capital frameworks, including community cultural wealth and funds of knowledge. Financial capital, the basis of these frameworks, is premised on unequal exchange. Money only becomes…

12 CFR 933.5 - Disclosure to members concerning capital plan and capital stock conversion.

Science.gov (United States)

2010-01-01

... total capital-to-asset ratio (both of which shall be based on the same financial data used for the... the liquidity, capital, earnings or continuing operations of the Bank, including those affecting...

Migration, income redistribution, and international capital mobility

OpenAIRE

Meckl, Jürgen

1994-01-01

This paper studies income-redistribution effects from labor migration in a small open economy under alternative assumptions on the international mobility of capital. Our principal result is that induced international capital flows dampen or may even reverse redistribution effects. However, as long as the location of capital is unaffected by migration redistribntion effects may be greater if some of the capital is foreign owned, depending on whether labor and capital are friends or enemies. On...

Measuring social capital: further insights.

Science.gov (United States)

Carrillo Álvarez, Elena; Riera Romaní, Jordi

Social capital is defined as the resources available to individuals and groups through membership in social networks. However, multiple definitions, distinct dimensions and subtypes of social capital have been used to investigate and theorise about its relationship to health on different scales, creating a confusing picture. This heterogeneity makes it necessary to systematise social capital measures in order to build a stronger foundation in terms of how these associations between the different aspects of social capital and each specific health indicator develop. We aim to provide an overview of the measurement approaches used to measure social capital in its different dimensions and scales, as well as the mechanisms through which it is presumed to influence health. Understanding the mechanisms through which these relationships develop may help to refine the existing measures or to identify new, more appropriate ones. Copyright © 2016 SESPAS. Publicado por Elsevier España, S.L.U. All rights reserved.

Human capital strategy: talent management.

Science.gov (United States)

Nagra, Michael

2011-01-01

Large organizations, including the US Army Medical Department and the Army Nurse Corps, are people-based organizations. Consequently, effective and efficient management of the human capital within these organizations is a strategic goal for the leadership. Over time, the Department of Defense has used many different systems and strategies to manage people throughout their service life-cycle. The current system in use is called Human Capital Management. In the near future, the Army's human capital will be managed based on skills, knowledge, and behaviors through various measurement tools. This article elaborates the human capital management strategy within the Army Nurse Corps, which identifies, develops, and implements key talent management strategies under the umbrella of the Corps' human capital goals. The talent management strategy solutions are aligned under the Nurse Corps business strategy captured by the 2008 Army Nurse Corps Campaign Plan, and are implemented within the context of the culture and core values of the organization.

47 CFR 36.182 - Cash working capital.

Science.gov (United States)

2010-10-01

... 47 Telecommunication 2 2010-10-01 2010-10-01 false Cash working capital. 36.182 Section 36.182... PROCEDURES; STANDARD PROCEDURES FOR SEPARATING TELECOMMUNICATIONS PROPERTY COSTS, REVENUES, EXPENSES, TAXES... Cash Working Capital § 36.182 Cash working capital. (a) The amount for cash working capital, if not...

Hospital Capital Investment During the Great Recession.

Science.gov (United States)

Choi, Sung

2017-01-01

Hospital capital investment is important for acquiring and maintaining technology and equipment needed to provide health care. Reduction in capital investment by a hospital has negative implications for patient outcomes. Most hospitals rely on debt and internal cash flow to fund capital investment. The great recession may have made it difficult for hospitals to borrow, thus reducing their capital investment. I investigated the impact of the great recession on capital investment made by California hospitals. Modeling how hospital capital investment may have been liquidity constrained during the recession is a novel contribution to the literature. I estimated the model with California Office of Statewide Health Planning and Development data and system generalized method of moments. Findings suggest that not-for-profit and public hospitals were liquidity constrained during the recession. Comparing the changes in hospital capital investment between 2006 and 2009 showed that hospitals used cash flow to increase capital investment by $2.45 million, other things equal.

Hospital Capital Investment During the Great Recession

Science.gov (United States)

Choi, Sung

2017-01-01

Hospital capital investment is important for acquiring and maintaining technology and equipment needed to provide health care. Reduction in capital investment by a hospital has negative implications for patient outcomes. Most hospitals rely on debt and internal cash flow to fund capital investment. The great recession may have made it difficult for hospitals to borrow, thus reducing their capital investment. I investigated the impact of the great recession on capital investment made by California hospitals. Modeling how hospital capital investment may have been liquidity constrained during the recession is a novel contribution to the literature. I estimated the model with California Office of Statewide Health Planning and Development data and system generalized method of moments. Findings suggest that not-for-profit and public hospitals were liquidity constrained during the recession. Comparing the changes in hospital capital investment between 2006 and 2009 showed that hospitals used cash flow to increase capital investment by $2.45 million, other things equal. PMID:28617202

Global capital markets: An updated profile

Directory of Open Access Journals (Sweden)

Filipović Miroslava

2007-01-01

Full Text Available More than two decades after the beginning of the financial revolution globalization of capital flows still attracts considerable attention, from both practitioners and academics. The aim of this paper is to contribute to understanding of some aspects of the global capital scene, as well as to emphasize certain developments which might illustrate its changing profile. Several fundamental perspectives profile the global capital market. A quantitative review provides a sense of sheer volumes, trends, origins and destinations of capital flows; an assessment of the global capital market’s degree of integration follows. The emergence of new (types of actors is another important aspect of the global processes, while illustrations of new market products and emerging segments may add new perspectives on the profile of the global capital market. Finally, the paper concludes with a brief overview of digitalization of the financial supply chain.

Corporate governance and intellectual capital

Directory of Open Access Journals (Sweden)

Rahmat Alizadeh

2014-01-01

Full Text Available The purpose of this paper is to examine the association between corporate governance and Intellectual capital in the pharmaceutical companies accepted in Tehran Stock Exchange over the period 2004-2009 using a regression based model. The study investigates the impacts of three some independent variables of the corporate governance (i.e. the number of board members, the relative extent of nonexecutive to executive directors, the auditing committee. The results suggest that corporate governance had no special effect on intellectual capital in the pharmaceutical companies. Furthermore among corporate governance's variables, the first one (i.e. board size had negative impact on firms' intellectual capital and the second and the third variables had no effects on intellectual capital.

Membangun Human Capital Melalui Kepemimpinan Dan Komitmen Organisasi

Directory of Open Access Journals (Sweden)

Moh Nasih

2011-04-01

Full Text Available Every company is constructed through two kinds of capital, which is financial capital and intellectual capital. If the company's capital is described as a tree, the human capital, an essential part of intellectual capital, is the resin. Resin allows the tree grows, and only the human capital that enables organizations to grow and develop. Considering the strategic position of human capital, it is a compulsion for a company to develop it. The problem is how to build human capital effectively? This study aimed to identify the factors that determine the development of human capital in an organization. There are 2 (two major factors that hypothetically influence human capital, which is leadership and organizational commitment. Leadership does not directly affect human capital. Leadership influence human capital through organizational commitment. In other words, organizational commitment is an intervening variable for the relationship or the influence of leadership on human capital. This hypothesis is based on a 'fact' that the function of leadership is oriented and intended to obtain or build the commitment of each personnel. Only committed personnel will provide their best for the organization. Only through the best contributions of every personnel, human capital can be built and developed. Leadership is useless if it can not obtain and create commitment. Personnel are useless, no matter how many and how skilfull they are, if they do not contribute the best for the organization. The presence of personnel without their comitment will be the same with their absence; even they may actually be detrimental to the organization.

Intangible Capital, Corporate Valuation and Asset Pricing

OpenAIRE

Danthine, Jean-Pierre; Jin, Xiangrong

2006-01-01

Recent studies have found unmeasured intangible capital to be large and important. In this paper we observe that by nature intangible capital is also very different from physical capital. We find it plausible to argue that the accumulation process for intangible capital differs significantly from the process by which physical capital accumulates. We study the implications of this hypothesis for rational firm valuation and asset pricing using a two-sector general equilibrium model. Our main fi...

Social capital and workplace bullying.

Science.gov (United States)

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

2017-01-01

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

Financial capital and intellectual capital in physician practice management.

Science.gov (United States)

Robinson, J C

1998-01-01

Medical groups need financial resources yet most retain no earnings and have no reserves. Physician practice management (PPM) companies have recognized the need for investment and the scarcity of indigenous capital in the physician sector and are rushing to fill the void. Resources are being contributed by venture capitalists, bond underwriters, private investors, pharmaceutical manufacturers, health plans, hospital systems, and public equity markets. The potential contribution of PPM firms is to nurture the intellectual capital of leading physician organizations and diffuse it throughout the health care system. The risk is that short-term financial imperatives will impede necessary long-term investments.

Human capital in low-tech manufacturing

DEFF Research Database (Denmark)

Hansen, Teis; Winther, Lars; Hansen, Ronnie Fibæk

2014-01-01

An essential feature associated with the rise of the knowledge economy has been the increasing focus on the importance of human capital as a precondition for economic growth. Human capital has been found to have a positive impact on the economic growth of high-tech industries, however, the influe......An essential feature associated with the rise of the knowledge economy has been the increasing focus on the importance of human capital as a precondition for economic growth. Human capital has been found to have a positive impact on the economic growth of high-tech industries, however......, the influence of human capital on the development of low-tech industries is yet to be analysed. This paper provides such an examination of low-tech industries based on an analysis of employment data within manufacturing industries in Denmark in the period 1993–2006. The findings highlight, first, that human...... capital appears to be equally important for economic development in low-tech industries and, second, that the divide between the large urban regions, especially Copenhagen, and the rest of the country plays the primary role in explaining the geography of human capital. These findings stress the relevance...

Social capital, mental health and biomarkers in Chile: Assessing the effects of social capital in a middle-income country

Science.gov (United States)

Riumallo-Herl, Carlos Javier; Kawachi, Ichiro; Avendano, Mauricio

2014-01-01

In high-income countries, higher social capital is associated with better health. However, there is little evidence of this association in low- and middle-income countries. We examine the association between social capital (social support and trust) and both self-rated and biologically assessed health outcomes in Chile, a middle-income country that experienced a major political transformation and welfare state expansion in the last two decades. Based on data from the Chilean National Health Survey (2009–10), we modeled self-rated health, depression, measured diabetes and hypertension as a function of social capital indicators, controlling for socio-economic status and health behavior. We used an instrumental variable approach to examine whether social capital was causally associated with health. We find that correlations between social capital and health observed in high-income countries are also observed in Chile. All social capital indicators are significantly associated with depression at all ages, and at least one social capital indicator is associated with self-rated health, hypertension and diabetes at ages 45 and above. Instrumental variable models suggest that associations for depression may reflect a causal effect from social capital indicators on mental well-being. Using aggregate social capital as instrument, we also find evidence that social capital may be causally associated with hypertension and diabetes, early markers of cardiovascular risk. Our findings highlight the potential role of social capital in the prevention of depression and early cardiovascular disease in middle-income countries. PMID:24495808

Entrepreneurship and human capital development in children

DEFF Research Database (Denmark)

Brandt, Kasper; Rutasitara, Longinus; Selejio, Onesmo

2017-01-01

This paper explores the link between entrepreneurship and child human capital development. We specifically examine how operating a non-farm enterprise (NFE) as opposed to working in agriculture relates to child labour and schooling outcomes. Accounting for timeinvariant unobservable characteristics...... for girls. Given these findings, it appears that household entrepreneurship may contribute to decreasing the severe child labour problem in Tanzania, but resolving the problem of low school attendance rates will require a different strategy....

Social capital, economics, and health: new evidence.

Science.gov (United States)

Scheffler, Richard M; Brown, Timothy T

2008-10-01

In introducing this Special Issue on Social Capital and Health, this article tracks the popularization of the term and sheds light on the controversy surrounding the term and its definitions. It sets out four mechanisms that link social capital with health: making information available to community members, impacting social norms, enhancing the health care services and their accessibility in a community, and offering psychosocial support networks. Approaches to the measurement of social capital include the Social Capital Community Benchmark Survey (SCCBS) developed by Robert Putnam, and the Petris Social Capital Index (PSCI), which looks at community voluntary organizations using public data available for the entire United States. The article defines community social capital (CSC) as the extent and density of trust, cooperation, and associational links and activity within a given population. Four articles on CSC are introduced in two categories: those that address behaviors -- particularly utilization of health services and use of tobacco, alcohol, and drugs; and those that look at links between social capital and physical or mental health. Policy implications include: funding and/or tax subsidies that would support the creation of social capital; laws and regulations; and generation of enthusiasm among communities and leaders to develop social capital. The next steps in the research programme are to continue testing the mechanisms; to look for natural experiments; and to find better public policies to foster social capital.

Harnessing the Power of Intellectual Capital.

Science.gov (United States)

Bassi, Laurie J.

1997-01-01

Describes intellectual capital--employees' brainpower, know-how, knowledge, and processes--and knowledge management--the processes by which a company creates and leverages intellectual capital--as the primary sources of competitive advantage in many industries. Offers ways to measure intellectual capital, a glossary, and additional resources. (JOW)

Аccounting and methodological aspects of capital expenditure for land improvement

Directory of Open Access Journals (Sweden)

J.P. Melnychuk

2016-07-01

Full Text Available The article highlights the process of reflection in accounting the capital costs for land improvement. The main legislation governing this issue is covered. Also the article has agreed the key issues that ensure in accounting for capital expenditures for farmland improving. The survey has benefited such general scientific methods as: induction and deduction, dialectic, historical and systematic methods and specific methods of accounting. Due to the land reform the ownership of the land was changed. Lands which were owned by farms have been privatized and have received a particular owner. Now privatized lands constitute a significant part of farmland. The land managers require quality accounting information about composition and state of the land and improvements that occur to make an effective management. The numerous changes in legislation generate controversies in their interpretation and, consequently, it results in appearance of the discrepancies in the conduct of cost accounting for capital land improvement which will effect on the amount of net profit in future. The article reflects the economic substance of the process and fundamentally describes the implementation method of accounting for capital expenditure for land in accordance with the applicable law.

(INFORMAL RURAL EDUCATION IN THE AGRO-INDUSTRIAL CAPITAL OF WESTERN PARANÁ

Directory of Open Access Journals (Sweden)

Marilucia Ben

2015-12-01

Full Text Available This article is the result of studies on cooperative education in western Paraná provided by business cooperatives, where the objective is to understand the qualification/disqualification relationships present in (informal education in agribusiness focused on capital and consumption. In the dialectic relationship between the rural environment and agro-industry, field workers (called integrated/associated workers are constantly being qualified/disqualified in order to serve the interests of the (reproduction of capital imposed by the agro-industrial complex and to meet international market requirements. While workers are being qualified/disqualified, they experience contradictory and confrontational processes in the social relations of production. Thus, understanding how integrated/cooperative families and agro-industry workers are educated to serve the interests of western Paraná’s agro-industrial capital is the general objective of this study. The study area comprises western Paraná, which is characterized by a strong agro-industrial presence in addition to significant trade and service sectors (which are partially focused on serving agroindustry demands. The research covers the period 1960–2010, which was exemplified by profound changes in the rural environment resulting from productive restructuring between capital and labor.

An Economical Approach to Estimate a Benchmark Capital Stock. An Optimal Consistency Method

OpenAIRE

Jose Miguel Albala-Bertrand

2003-01-01

There are alternative methods of estimating capital stock for a benchmark year. However, these methods are costly and time-consuming, requiring the gathering of much basic information as well as the use of some convenient assumptions and guesses. In addition, a way is needed of checking whether the estimated benchmark is at the correct level. This paper proposes an optimal consistency method (OCM), which enables a capital stock to be estimated for a benchmark year, and which can also be used ...

Financial potential of migrants’ capital in Ukraine

Directory of Open Access Journals (Sweden)

I.М. Krupka

2015-06-01

financial capital potential for the development of the national economy. Solving the problem of efficient use of migrants’ capital requires reforms of the tax area, government financial policy, regulation of entrepreneurship etc. Creating relevant socio-economic and legal conditions in Ukraine will allow us to direct the potential of migrants’ capital at the domestic financial market and the development of the national economy in terms of transformation and globalization.

Implementing a Capital Plan.

Science.gov (United States)

Daigneau, William A.

2003-01-01

Addresses four questions regarding implementation of a long-term capital plan to manage a college's facilities portfolio: When should the projects be implemented? How should the capital improvements be implemented? What will it actually cost in terms of project costs as well as operating costs? Who will implement the plan? (EV)

Cultural Capital and Teaching Ability Rating

DEFF Research Database (Denmark)

Jæger, Mads Meier

do not possess cultural capital. This paper uses extremely rich longitudinal data that provides a better basis than previous studies for holding ‘everything else’ constant. In addition to children and parents’ cultural capital, I control for children’s actual academic ability, physical appearance......, health impairments, social behaviour, antenatal influences, and many family background characteristics. My analysis shows, first, that both children and parents’ cultural capital have independent effects on teacher ability ratings. Second, for oral ability I find that parents’ cultural capital ‘protects...

Social Capital in Organizations - Perspectives and Unresolved Issues

DEFF Research Database (Denmark)

Waldstrøm, Christian

a consistent, bridging theory. Finally, there is a lack of understanding on how social capital develops over time and the potential benefits of taking a life-cycle view of social capital. In conclusion, the field of social capital in organizations still needs a consistent and coordinated research effort......The importance and usefulness of social capital as a concept in the study of organizations have been established by a large body of research. The aim of this paper is to review the concept of social capital in an organizational context, and identifying five main issues that need to be addressed....... Secondly, it is necessary to determine whether social capital can or should be measured. Thirdly, the negative aspects of social capital should be explored and integrated into the existing research. Fourthly, the field between social capital of the individual and organizational social capital lacks...

Social capital and health during pregnancy

DEFF Research Database (Denmark)

Agampodi, Thilini Chanchala; Rheinlaender, Thilde; Agampodi, Suneth Buddhika

2017-01-01

Background: Dimensions of social capital relevant to health in pregnancy are sparsely described in the literature.This study explores dimensions of social capital and the mechanisms in which they could affect the health of ruralSri Lankan pregnant women.Methods: An exploratory qualitative study......-diary interviews.Sixteen key informant interviews were conducted with public health midwives and senior community dwellers.We identified ten cognitive and five structural constructs of social capital relevant to health in pregnancy. Domesticand neighborhood cohesion were the most commonly expressed constructs....... Social support was limited to supportfrom close family, friends and public health midwives. A high density of structural social capital was observed in themicro-communities. Membership in local community groups was not common. Four different pathways by whichsocial capital could influence health...

Roman capitals from Sirmium (Sremska Mitrovica, Serbia

Directory of Open Access Journals (Sweden)

Maver Andreja

2009-01-01

Full Text Available The article brings a detailed formal analysis of the Roman capitals from Sirmium, in the light of the stone analysis conducted on the material at the Museum of Srem and elsewhere in Sremska Mitrovica. The capitals dot the historical development of the town from the first half of the 2nd century until the 4th century. First made of regional limestone, they were later joined by those of limestone and marbles of distant source, whereby different stones in capitals coexisted almost throughout the town’s development. This was certainly the situation during the flourishing times of the late 3rd and the 4th century, when Sirmium, as one of the four capitals of the Roman Empire, stood within several formal circles of capitals. The plain-leaved capitals tie it to the rest of Pannonia, the Corinthianizing capitals to the provinces to the east and south, while part of the Asiatic capitals, the largest group, tie it to the wider area of the Mediterranean.

Human Capital and Knowledge Emergence. Induced Effects of the Global Crisis on Human capital and Innovation

Directory of Open Access Journals (Sweden)

Simona Buta

2014-12-01

Full Text Available In the global crisis context crossed by organizations and countries in the past six years we assist also at conflicting measures in which regards knowledge, innovation and human capital; for example, countries such as England and France have reduced their costs for education, while Germany and other countries (Australia, Austria, Canada and Norway maintained the same allocations for education. What will be the effects of such measures on human capital in the near future? What are the best human resources policies in companies in the crisis context? Given that the subject of the research is "knowledge and human capital", in this paper we refer to the induced effects of the crisis on human capital and innovation. We will also identify the key steps that can be taken during crisis, and not only, to stimulate human capital.

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.

FACTORS AFFECTING THE ENTERPRISE’S COST OF CAPITAL IN UKRAINE

Directory of Open Access Journals (Sweden)

Tetiana KONIEVA,

2017-02-01

Full Text Available Reducing the cost of capital is one of the main tasks of financial management of any enterprise.Because of dynamism of market conditions, the economic situation in the country, the existingrequirements of the legislation, the volume, structure, cost of financial resources of the enterprise fallunder the influence of various factors. The goal of this article is to analyze the specific features of theinfluence of different factors on the weighted average cost of capital in Ukraine as a basis fordevelopment of methods for its reducing. Investigation of factors that influence on the company's financialresources was carried out in the directions determined by the classical formula of the weighted averagecost of capital (WACC, estimation of the cost of net assets’ attracting (CAPM model. Special attentionwas paid to the analysis of the domestic legislative base concerning the permitted forms of businessorganization in Ukraine, requirements for the emission and dividend policy of the enterprise, size of itsregistered, reserve capital, share of net assets in financial resources. Based on the statistical data ofdomestic business entities, their ownership structure, sources of financing, specific features of theeconomic sector’s influence were analyzed. As a result, the prevalence of corporate enterprises in Ukrainewas revealed, which is connected with relatively low costs and favorable conditions for establishment andregistration. As part of the analysis of the financial resources’ structure high level of dependence fromdebts, the popularity of commercial credit, negative effect of financial leverage were found at theUkrainian enterprises. The features of the economic sector of enterprise were analyzed, that determine thevolume of capital investments for creation and development, duration of the operational cycle,seasonality, operating and investment activities, the level of profitability, which affect the volume,structure, cost of the capital of

Legal capital: an outdated concept

OpenAIRE

John Armour

2006-01-01

This paper reviews the case for and against mandatory legal capital rules. It is argued that legal capital is no longer an appropriate means of safeguarding creditors' interests. This is most clearly the case as regards mandatory rules. Moreover, it is suggested that even an 'opt in' (or default) legal capital regime is unlikely to be a useful mechanism. However, the advent of regulatory arbitrage in European corporate law will provide a way of gathering information regarding investors' prefe...

12 CFR 725.5 - Capital stock.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Capital stock. 725.5 Section 725.5 Banks and Banking NATIONAL CREDIT UNION ADMINISTRATION REGULATIONS AFFECTING CREDIT UNIONS NATIONAL CREDIT UNION ADMINISTRATION CENTRAL LIQUIDITY FACILITY § 725.5 Capital stock. (a) The capital stock of the Facility is divided...

Cognitive Capitalism, Education and Digital Labor

Science.gov (United States)

Peters, Michael A., Ed.; Bulut, Ergin, Ed.

2011-01-01

Cognitive capitalism--sometimes referred to as "third capitalism," after mercantilism and industrial capitalism--is an increasingly significant theory, given its focus on the socio-economic changes caused by Internet and Web 2.0 technologies that have transformed the mode of production and the nature of labor. The theory of cognitive…

School Social Capital and School Effectiveness

Science.gov (United States)

Tsang, Kwok-Kuen

2009-01-01

This article argues that school social capital is crucial for school effectiveness, but it has been disregarded in the traditional school administrative theory. Therefore, this article tries to illustrate the significance of school social capital to school effectiveness. School social capital is defined as the social resources embedded in internal…

Social capital, family violence, and neglect.

Science.gov (United States)

Zolotor, Adam J; Runyan, Desmond K

2006-06-01

Social capital includes collective efficacy, psychological sense of community, neighborhood cohesion, and parental investment in the child. It has been shown to be associated with a variety of health and welfare outcomes and may be useful in understanding and preventing parenting behaviors on the continuum of child abuse and neglect. The purpose of this research was to evaluate low social capital as a risk factor for harsh physical punishment, neglectful parenting, psychologically harsh parenting, and domestic violence. This study is an analysis of cross-sectional telephone survey data of mothers in North and South Carolina (n = 1435). We constructed a 4-point social capital index reflecting survey responses to items ascertaining neighborhood characteristics, willingness to take personal action, the presence of 2 adults in the household, and regular religious service participation. We assessed the relationship of social capital to inventories of self-reported parenting behaviors and in-home violence. In adjusted analysis, we found that each 1 point increase in a 4-point social capital index was associated with a 30% reduction in the odds of neglectful parenting, psychologically harsh parenting, and domestic violence. There was no relationship between social capital and harsh physical punishment. This study demonstrates that increasing social capital decreases the odds of neglectful parenting, psychologically harsh parenting, and domestic violence but not harsh physical punishment. This supports further investigation into developing social capital as a resource for families.

Social capital, mental health and biomarkers in Chile: assessing the effects of social capital in a middle-income country.

Science.gov (United States)

Riumallo-Herl, Carlos Javier; Kawachi, Ichiro; Avendano, Mauricio

2014-03-01

In high-income countries, higher social capital is associated with better health. However, there is little evidence of this association in low- and middle-income countries. We examine the association between social capital (social support and trust) and both self-rated and biologically assessed health outcomes in Chile, a middle-income country that experienced a major political transformation and welfare state expansion in the last two decades. Based on data from the Chilean National Health Survey (2009-10), we modeled self-rated health, depression, measured diabetes and hypertension as a function of social capital indicators, controlling for socio-economic status and health behavior. We used an instrumental variable approach to examine whether social capital was causally associated with health. We find that correlations between social capital and health observed in high-income countries are also observed in Chile. All social capital indicators are significantly associated with depression at all ages, and at least one social capital indicator is associated with self-rated health, hypertension and diabetes at ages 45 and above. Instrumental variable models suggest that associations for depression may reflect a causal effect from social capital indicators on mental well-being. Using aggregate social capital as instrument, we also find evidence that social capital may be causally associated with hypertension and diabetes, early markers of cardiovascular risk. Our findings highlight the potential role of social capital in the prevention of depression and early cardiovascular disease in middle-income countries. Copyright © 2014 Elsevier Ltd. All rights reserved.

Questions of trust in health research on social capital: what aspects of personal network social capital do they measure?

Science.gov (United States)

Carpiano, Richard M; Fitterer, Lisa M

2014-09-01

Health research on personal social capital has often utilized measures of respondents' perceived trust of others as either a proxy for one's social capital in the absence of more focused measures or as a subjective component of social capital. Little empirical work has evaluated the validity of such practices. We test the construct validity of two trust measures used commonly in health research on social capital-generalized trust and trust of neighbors-with respect to measures of people's general network-, organization-, family-, friend-, and neighborhood-based social capital and the extent to which these two trust measures are associated with self-rated general health and mental health when social capital measures are included in the same models. Analyses of 2008 Canadian General Social Survey data (response rate 57.3%) indicate that generalized trust and trust of neighbors are both positively-yet modestly-associated with measures of several domains of network-based social capital. Both trust measures are positively associated with general and mental health, but these associations remain robust after adjusting for social capital measures. Our findings suggest that (a) trust is conceptually distinct from social capital, (b) trust measures are inadequate proxies for actual personal social networks, and (c) trust measures may only be capturing psychological aspects relevant to-but not indicative of-social capital. Though links between perceived trust and health deserve study, health research on social capital needs to utilize measures of respondents' actual social networks and their inherent resources. Copyright © 2014 Elsevier Ltd. All rights reserved.

42 CFR 412.302 - Introduction to capital costs.

Science.gov (United States)

2010-10-01

... 42 Public Health 2 2010-10-01 2010-10-01 false Introduction to capital costs. 412.302 Section 412... Inpatient Hospital Capital Costs General Provisions § 412.302 Introduction to capital costs. (a) New capital... revision of the debt instrument. (iii) If short-term financing was used to acquire old capital assets and...

Bourdieu's Cultural Capital in Relation to Food Choices: A Systematic Review of Cultural Capital Indicators and an Empirical Proof of Concept.

Directory of Open Access Journals (Sweden)

Carlijn B M Kamphuis

Full Text Available Unhealthy food choices follow a socioeconomic gradient that may partly be explained by one's 'cultural capital', as defined by Bourdieu. We aim 1 to carry out a systematic review to identify existing quantitative measures of cultural capital, 2 to develop a questionnaire to measure cultural capital for food choices, and 3 to empirically test associations of socioeconomic position with cultural capital and food choices, and of cultural capital with food choices.We systematically searched large databases for the key-word 'cultural capital' in title or abstract. Indicators of objectivised cultural capital and family institutionalised cultural capital, as identified by the review, were translated to food choice relevant indicators. For incorporated cultural capital, we used existing questionnaires that measured the concepts underlying the variety of indicators as identified by the review, i.e. participation, skills, knowledge, values. The questionnaire was empirically tested in a postal survey completed by 2,953 adults participating in the GLOBE cohort study, The Netherlands, in 2011.The review yielded 113 studies that fulfilled our inclusion criteria. Several indicators of family institutionalised (e.g. parents' education completed and objectivised cultural capital (e.g. possession of books, art were consistently used. Incorporated cultural capital was measured with a large variety of indicators (e.g. cultural participation, skills. Based on this, we developed a questionnaire to measure cultural capital in relation to food choices. An empirical test of the questionnaire showed acceptable overall internal consistency (Cronbach's alpha of .654; 56 items, and positive associations between socioeconomic position and cultural capital, and between cultural capital and healthy food choices.Cultural capital may be a promising determinant for (socioeconomic inequalities in food choices.

Risk capital allocation

DEFF Research Database (Denmark)

Hougaard, Jens Leth; Smilgins, Aleksandrs

Risk capital allocation problems have been widely discussed in the academic literature. We consider a company with multiple subunits having individual portfolios. Hence, when portfolios of subunits are merged, a diversification benefit arises: the risk of the company as a whole is smaller than...... the sum of the risks of the individual sub-units. The question is how to allocate the risk capital of the company among the subunits in a fair way. In this paper we propose to use the Lorenz set as an allocation method. We show that the Lorenz set is operational and coherent. Moreover, we propose a set...... of new axioms related directly to the problem of risk capital allocation and show that the Lorenz set satisfies these new axioms in contrast to other well-known coherent methods. Finally, we discuss how to deal with non-uniqueness of the Lorenz set....

La escritura capital cursiva

OpenAIRE

Carbonell Boria, María José

1989-01-01

Estado de la cuestión de los trabajos sobre la Capital Cursiva. Análisis de la misma y muestras de su existencia y uso en la cultura occidental, incluida España. The matter of the study of Italic Capital letters. Its analysis, samples, and use in Western cultur, including Spain.

Thomas Piketty’s capitalism revisited

Directory of Open Access Journals (Sweden)

Milovanović Milić

2015-01-01

Full Text Available Thomas Piketty’s international best selling Capital in the Twenty-First Century lays out his theory of a long-run rise in income inequality under capitalism. It is written as a manifesto urging reintegration of social sciences. A number of reviewers judged it on ideological grounds, labeling it either as a revolution in economic thinking, or dismissing it offhandedly. Piketty’s theory of rising inequality is based on the two Fundamental Laws of Capitalism, developed after the Solow growth model. However, this model is inconsistent with Piketty’s own characterization of modern capitalism. Moreover, his sole justification for the constant discrepancy between rate of return and rate of income growth (r > g is based on the high elasticity of substitution between capital and labor. However, that is just one factor that can have an influence on factor income shares. By failing to offer a consistent theory of rising inequality, his piece can hardly be considered as a useful founding stone for a new social science.

INNOVATIVE SYSTEM OF FIXED CAPITAL REPRODUCTION

Directory of Open Access Journals (Sweden)

G. S. Merzlikina

2015-01-01

Full Text Available The article presents the basic problems of fixed capital reproduction. There are considered a significant depreciation of fixed assets of Russian enterprises. There are presented arguments in favor of urgency of the problem of reproduction of fixed assets of the Russian Federation. The paper presents theoretical evidence base basic types of fixed capital reproduction. There are identified all possible sources of simple and expanded reproduction of capital. There are considered the role of value and feasibility of depreciation in the formation of Reserve reproduction. Suggested the formation of accounting and analytical management provision fixed capital, as well as an innovative system of fixed capital reproduction, which implies the creation of depreciation , capital, revaluation, liquidation reserves. The algorithm of business valuation based on an innovative system of capital reproduction. The algorithm and the possibility of formation of reserves are considered on a concrete example of one of the industrial enterprises of the city Volgograd. On the basis of the algorithm presented calculations of business valuation of the enterprise. Calculations have shown an increase in value of the business condition of the formation of special reserves, which underlines the necessary and urgency of their formation in accounting policy and economy organizations and enterprises of Russia as a whole.

Human and Inhuman Capital, and Schooling

Directory of Open Access Journals (Sweden)

Primož Krašovec

2014-06-01

Full Text Available Theories of human capital are becoming an increasingly common reference in both newer pedagogical theories as well as political documents, outlining the plans for reforms of science and education. As a part of broader ideology of knowledge society, human capital theories represent ideological legitimation of neoliberal trends in science and education policies. Increased investment in human capital on both social and individual level is supposed to increase the competitiveness of the economy as a whole as well as employability and welfare of individuals. In the first part of the article, we sketch the intellectual history and the socio-political context of the development of theories of human capital. Second part is dedicated to a critique of characteristically neoliberal equalization of labor with capital and of a theory, according to which investment in human capital brings profits to individual workers. In the third part, we outline a general socio-historical dynamics of the development of high-tech capitalism and show that “investments in human capital” and economic innovations do not bring about increased social welfare. In the fourth, final part, we analyze in detail how current educational reforms impact the learning process and working conditions at public universities.

Linking intellectual capital and intellectual property to company performance

Directory of Open Access Journals (Sweden)

Mohammad Reza

2016-12-01

Full Text Available The purpose of this paper is to measure the effects of intellectual capital components; namely, human capital, structural capital and relational capital on company performance in Iranian auto industry. The study uses a questionnaire consists of 100 questions to cover intellectual capital and company performance in Likert scale and it is distributed among 180 experts in one of Iranian auto industry. Cronbach alphas for intellectual capital components, i.e. human capital, relational capital and structural capital are 0.82, 0.80 and 0.80, respectively. In addition, Cronbach alpha for company performance is 0.82. Using structural equation modeling, the study has determined a positive and meaningful relationship between intellectual capital and company performance. The study has also determined a positive and meaningful relationship between human capital and structural capital. Among components of performance, efficiency maintained the highest effect while innovation represents the minimum effect.

Supplier relationship management leverages intellectual capital for increased competitive advantage

Directory of Open Access Journals (Sweden)

C. R. Van Zyl

2005-12-01

Full Text Available The main purpose of this article is to demonstrate how supplier relationship management (SRM enables the capture and creation of intellectual capital, thereby attaining and sustaining a strategic competitive advantage and increasing supply chain profitability. In order to achieve this purpose, a large part of the article is devoted to exploring the relatively new and unknown field of SRM. It is shown that an organisation must possess a thorough understanding of good supplier characteristics and of the drivers, benefits and requirements for the successful implementation of SRM, in order to enable that organisation to leverage their supplier relationships to ensure the capture of supplier expertise, patents, experiences etc. (i.e. their intellectual capital. The article then explores how the integration of technology in SRM applications can improve the efficiency of supplier collaboration and intellectual capital capture and creation. It is then demonstrated how efficient and collaborative supplier relationships improve supply chain profitability and competitiveness. Lastly, the article explores the implementation pitfalls and trends of SRM that must be constantly considered and monitored by an organisation in order to continually capture and create intellectual capital and reap the full benefits of SRM. This exploration involved an examination of contemporary literature, theories and business cases and subsequently revealed that SRM is a vital discipline/philosophy that must be implemented by any organisation wishing to achieve greater supply chain efficiency and competitiveness. This competitiveness can only be achieved through the mutual unlocking, sharing and leveraging of intellectual capital.

12 CFR 931.6 - Transfer of capital stock.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Transfer of capital stock. 931.6 Section 931.6 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.6 Transfer of capital stock. A Bank in its capital plan...

Sobre o conceito de "capital humano" On the concept of "human capital"

Directory of Open Access Journals (Sweden)

Vanilda Paiva

2001-07-01

Full Text Available O artigo aborda a retomada do conceito de capital humano nas últimas décadas no contexto da hegemonia de organismos multilaterais mais diretamente vinculados ao pensamento e aos interesses norte-americanos na área educacional, e de demandas que resultam da reestruturação produtiva e sociocultural na Nova Era Capitalista. Ressalta a amplitude das noções metafóricas dele derivadas (Bourdieu e outros e indica o trecho dos Grundrisse em que Marx refere-se ao homem como sendo o próprio capital fixo criado pelo desenvolvimento de suas capacidades no tempo livre.The article treats the retaking of the concept of human capital in recent decades in the context of the hegemony of the multilateral organizations more directly linked to the North American thinking and interests in the educational area and the demands which have resulted from the productive, social and cultural restructuring of the New Age of Capitalism. It highlights the breadth of the metaphorical notions derived from it (Bourdieu and others and cites the excerpt from the Grundrisse in which Marx refers to humans as fixed assets created by the development of their abilities in their free time.

Capital flows, real exchange rates, and capital controls: What is the scope of liberalization for Tunisia?

Directory of Open Access Journals (Sweden)

Marrakchi Charfi Fatma

2013-01-01

Full Text Available This paper deals with an important aspect of Tunisian economic and political decisions related to the opportunity for currency convertibility. Tunisia has established its current currency convertibility and has taken steps to achieve full convertibility of the dinar by gradually removing capital flow obstacles. Theoretical and empirical literature suggests that capital account liberalization generally leads to capital inflow in developing countries, generating an appreciation in the real exchange rate (RER and thus a loss in competitiveness. However, preserving competitiveness is a key challenge for monetary authorities, who have to conciliate these two apparently conflicting purposes. To guide their decisions with respect to the prescribed procedure for capital liberalization, we need to evaluate the impact of each capital component flow on the RER. The question is addressed by analyzing impulse response functions (IRF resulting from a VAR model, covering 1970 to 2010 and gathering the RER, its fundamental determinants, monetary variables and an estimated capital control (CC variable. Results show that a relaxation of CC overappreciates the RER to its long-term level, and liberalizing portfolio investment is the most compromising for competitiveness.

Tax Neutrality on International Capital Investments

Directory of Open Access Journals (Sweden)

Gizem KAPUCU

2017-07-01

Full Text Available The tax policies which states follow with regard to developing technology and capital investments with raising mobility due to globalism are need to be discussed in its legal basis. The principle of tax neutrality has the aim of being legal foundation for these policies. According to this, the neutrality principle in taxation of international capital investments is provided with two measures, namely; not effecting the investment decision and not discriminate between investments. In this paper, initially focused on the conceptual framework and the foundations of the tax neutrality principle and later capital export neutrality and capital import neutrality are considered and explained with regard to international capital movements. Moreover, conformity and diversion to the principle of the current situation and regulations in OECD, EU and Turkey are examined.

Capital-cost behavior: is nuclear different

International Nuclear Information System (INIS)

Lotze, C.D.; Riordan, B.J.

1978-01-01

The capital costs of coal-fired and nuclear power plants are found to be comparable when costs for pollution control are included. Trends in capital costs reveal a similar rate gain that retains the same economic balance. Graphs of selected cost indices are used to show that the rapid increase in direct construction costs is not unique to nuclear plants, those of hydroelectric plants as well as coal-fired having the same pattern. Comparisons of indirect capital costs, based on analyses of direct capital and total capital costs, show estimated average growth rates of total costs to be 14% for coal and 13.6% for nuclear, while direct cost growth rates are 10.2% and 10.4%. The economics of market competition can be expected to push alternative energy source projects into balance

RETROSPECTIVE OF FINANCIAL REPORTING ON CAPITAL MARKET

OpenAIRE

Diana Muresan

2012-01-01

The purpose of this paper is to develop a conceptual framework for the evolution offinancial reporting on capital market. Due to the worlwide changes, the role of financial reportingin capital market is constantly growing. Financial reporting analyzed through market perspective isstrongly correlated with issues like: capital allocation, financial statements, internationalaccounting standards and informational valences. Capital market research emphasizes the need forqualitative and transparent...

Internet Use Among Older Adults: Association With Health Needs, Psychological Capital, and Social Capital

Science.gov (United States)

2013-01-01

Background Previous studies have identified socioeconomic status and health status as predictors of older adults’ computer and Internet use, but researchers have not examined the relationships between older adults’ health needs and psychological capital (emotional well-being and self-efficacy) and social capital (social integration/ties and support networks) to different types of Internet use. Objective This study examined (1) whether older adults’ health conditions and psychological and social capital differentiate Internet users from nonusers, and (2) whether the Internet users differed in their types of Internet use on the basis of their health conditions and psychological and social capital. Methods Data for this study came from the National Health and Aging Trends Study, which is based on a nationally representative sample of US Medicare beneficiaries aged 65 years and older. The sample for this study were those who resided in the community in their own or others’ homes (N=6680). Binary logistic regression analysis was used to compare health needs, psychological capital, and social capital among (1) any type of Internet users and nonusers, (2) Internet users who engaged in health-related tasks and Internet users who did not, (3) Internet users who engaged in shopping/banking tasks and Internet users who did not, and (4) Internet users only used the Internet for email/texting and all other Internet users. Results Depressive and anxiety symptoms, measures of psychological capital, were negatively associated with Internet use among older adults (odds ratio [OR] 0.83, 95% CI 0.70-0.98, P=.03 and OR 0.79, 95% CI 0.65-0.97, P=.03, respectively), whereas most measures of social capital were positively associated with Internet use. Having more chronic medical conditions and engaging in formal volunteering increased the odds of Internet use for health-related tasks by 1.15 (95% CI 1.08-1.23, PInternet use for shopping/banking activities (OR 0.75, 95% CI 0

Internet use among older adults: association with health needs, psychological capital, and social capital.

Science.gov (United States)

Choi, Namkee G; Dinitto, Diana M

2013-05-16

Previous studies have identified socioeconomic status and health status as predictors of older adults' computer and Internet use, but researchers have not examined the relationships between older adults' health needs and psychological capital (emotional well-being and self-efficacy) and social capital (social integration/ties and support networks) to different types of Internet use. This study examined (1) whether older adults' health conditions and psychological and social capital differentiate Internet users from nonusers, and (2) whether the Internet users differed in their types of Internet use on the basis of their health conditions and psychological and social capital. Data for this study came from the National Health and Aging Trends Study, which is based on a nationally representative sample of US Medicare beneficiaries aged 65 years and older. The sample for this study were those who resided in the community in their own or others' homes (N=6680). Binary logistic regression analysis was used to compare health needs, psychological capital, and social capital among (1) any type of Internet users and nonusers, (2) Internet users who engaged in health-related tasks and Internet users who did not, (3) Internet users who engaged in shopping/banking tasks and Internet users who did not, and (4) Internet users only used the Internet for email/texting and all other Internet users. Depressive and anxiety symptoms, measures of psychological capital, were negatively associated with Internet use among older adults (odds ratio [OR] 0.83, 95% CI 0.70-0.98, P=.03 and OR 0.79, 95% CI 0.65-0.97, P=.03, respectively), whereas most measures of social capital were positively associated with Internet use. Having more chronic medical conditions and engaging in formal volunteering increased the odds of Internet use for health-related tasks by 1.15 (95% CI 1.08-1.23, PInternet use for shopping/banking activities (OR 0.75, 95% CI 0.62-0.91, P=.01). Anxiety symptoms increased the

Human capital, social capital and scientific research in Europe: an application of linear hierarchical models

OpenAIRE

Mathieu Goudard; Michel Lubrano

2011-01-01

The theory of human capital is one way to explain individual decisions to produce scientific research. However, this theory, even if it reckons the importance of time in science, is too short for explaining the existing diversity of scientific output. The present paper introduces the social capital of Bourdieu (1980), Coleman (1988) and Putnam (1995) as a necessary complement to explain the creation of scientific human capital. This paper connects these two concepts by means of a hierarchical...

Tiempo y capital financiero en El Capital de Marx

Directory of Open Access Journals (Sweden)

Boris Salazar

2018-06-01

Full Text Available Este artículo sugiere que la metamorfosis de las deudas en derivados y títulos financieros, y de estos en deudas, genera redes de activos y obligaciones, que inducen la emergencia de distintos tiempos del capital, articulados en un sistema complejo, cuya dinámica hace posible sincronizarlos en forma de crisis de carácter global. La crisis se trata como un cambio de estado en un sistema complejo, precipitada por la conectividad generada por el apalancamiento creciente. Es un desarrollo de las teorías de la crisis y de la socialización de la deuda planteadas por Marx en El Capital.

Capital-Skill Complementarity and Rigid Relative Wages

DEFF Research Database (Denmark)

Rose Skaksen, Jan; Sørensen, Anders

2004-01-01

be countercyclical. The labor market is competitivein the United States and therefore relative wages of skilled labor are expected to becountercyclical. We find that the business cycle development of the two economiesis consistent with capital-skill complementarity.Keywords: capital-skill complementarity, relative......The relative demand for skills has increased considerably in many OECD countriesduring recent decades. This development is potentially explained by capital-skillcomplementarity and high growth rates of capital equipment. When productionfunctions are characterized by capital-skill complementarity......, relative wages and employmentof skilled labor are countercyclical because capital equipment is a quasi-fixed factor in the short run. The exact behavior of the two variables depends onrelative wage flexibility. Relative wages are rigid in Denmark, implying that the employmentshare of skills should...

Corporate taxation and capital accumulation

OpenAIRE

Stephen Bond; Jing Xing

2010-01-01

We present new empirical evidence that aggregate capital accumulation is strongly influenced by the user cost of capital and, in particular, by corporate tax incentives summarised in the tax-adjusted user cost. We use sectoral panel data for the USA, Japan, Australia and ten EU countries over the period 1982-2007. Our panel combines data on capital stocks, value-added and relative prices from the EU KLEMS database with measures of effective corporate tax rates from the Oxford University Centr...

Organizational Capital of the Enterprise

Directory of Open Access Journals (Sweden)

Vladimir Nikiforovich Belkin

2016-09-01

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

Preliminary report on the environmnetal geology of the Islamabad-Rawalpindi area, Pakistan

International Nuclear Information System (INIS)

Williams, V.S.; Sheikh, I.; Pasha, M.K.; Khan, K.S.A.; Reza, Q.

1994-01-01

Islamabad, the capital of Pakistan, is a planned city constructed since about 1960 at the foot of the Margala hills just north of the old city of Rawalpindi. Since then, rapid growth of both Islamabad and Rawalpindi to a combined population of about 1.3 million has caused ever increasing demands for natural resources and adverse effects on the environment. To maintain the quality of the capital, municipal authorities need information on the physical environment to guide future development. Environment concerns include (1) availability of building materials, (2) environmental degradation from extraction and processing of building materials, (3) availability of surface and ground water (4) pollution of water by waste disposal, (5) geological hazards, and (6) engineering characteristics of soil ad rock. This preliminary report summarizes information on the environmental geology of the Islamabad-Rawalpindi area. The information has been collected by a cooperative project of the geological Survey of Pakistan and the U.S. Geological Survey, supported by the United States Agency for International Development. (author)

Capitation, contracts, and control

International Nuclear Information System (INIS)

McIsaac, L.H.

1987-01-01

The radiology business manager in today's environment must become proficient in contract evaluations and negotiations. Health care is focusing on preventive medicine. Third-party payers are offering plans and programs to provide ''well-patient'' care. For prepaid (HMO-IPA-PTO) plans to succeed, demands for reduced fees and other entrepreneurial contractual arrangements are developed. This presentation will focus on specific items contained in most contracts. The issues of withhold, billing procedures, prompt-payment rewards, medical liability, capitation determinations, and modified capitation plans will be discussed. It is the intent of this presentation to share with the audience methods of evaluating contracts, the importance of negotiating specific terms, and an approach to determination of capitation amounts

Is there any relation between intellectual capital and the capital structure of a company? The case of Polish listed companies

Directory of Open Access Journals (Sweden)

Monika Bolek

2016-09-01

Full Text Available This study investigates the relationship of the intellectual capital of a company (proxied by its intangible assets, with leverage and equity and capital structure. Our empirical results indicate that there is a negative relation between the intellectual capital (intangible assets of a company and its leverage based on the Warsaw Stock Exchange main market and NewConnect alternative market. Moreover, the equity capital is found positively related to the level of intangibles in each of the two markets. These results support the thesis that intellectual capital (intangible assets influences the capital structure of a company.

Smart gun technology requirements preliminary report

Energy Technology Data Exchange (ETDEWEB)

Weiss, D.R.; Brandt, D.J.; Tweet, K.D.

1995-05-01

Goal of the Smart Gun Technology project is to eliminate the capability of an unauthorized user from firing a law enforcement officer`s firearm by implementing user-recognizing-and-authorizing surety technologies. This project is funded by the National Institute of Justice. This document reports the projects first objective: to find and document the requirements for a user-recognizing-and-authorizing firearm technology that law enforcement officers will value. This report details the problem of firearm takeaways in law enforcement, the methodology used to develop the law enforcement officers` requirements, and the requirements themselves.

Human Capital in the Entrepreneurship Ecosystem

DEFF Research Database (Denmark)

Østergaard, Annemarie; Marinova, Svetla Trifonova

2018-01-01

Since Adam Smith (1776) took consideration to human capital as an asset of economic value, academic interest has focused on the economic effects of human capital. In 1931, Schumpeter called for a focus on the individual entrepreneur or the creative destructor with his/her motives, wishes, aspirat......Since Adam Smith (1776) took consideration to human capital as an asset of economic value, academic interest has focused on the economic effects of human capital. In 1931, Schumpeter called for a focus on the individual entrepreneur or the creative destructor with his/her motives, wishes......, aspirations and activities when dealing with entrepreneurship and entrepreneurs. Along these lines, this paper focuses on an in-depth investigation of the domain of human capital in Isenbergs Entrepreneurship Ecosystem. It captures the entrepreneurial mindset of the highly complex individual as a requisite...... for entrepreneurial success and ultimately, for business growth and development. The increasing literature debating human capital confirms the relevance of locating and refining the factors for entrepreneurial success. Consequently, this paper improves the roadmap of Entrepreneurship Ecosystems by adding the innate...

Exploring the Relationship between Human Capital Investment and Corporate Financial Performance of Jordanian Industrial Sectors

Directory of Open Access Journals (Sweden)

Faris Nasif ALSHUBIRI

2013-12-01

Full Text Available The revolution of globalization, computerization and information technology has entered to Jordanian market. This phenomenon requires company's attention of human element and the acquired knowledge, experience and the development of the so-called concept of intellectual capital.(IC In this study I used only the human capital as a part of IC. This study aims to exploring the relationship between human capital investment (HCI, and corporate financial performance. This study used an 11 industrial sectors listed of Amman Stock Exchange from 2005to 2011. Correlation analysis tests used in this study and the results indicate the high positive significant relationship between HCI and corporate financial performance related to, ROE , PTBV , log of sales , log of assets , DPS and ICR but no significant relationship between HCI and WCTO. The researcher recommends industrial companies to strengthen and stimulate the concept of human capital in the companies and the need for develop administrative innovation program. For future analysis may be used more sectors listed in market in addition used the all parts of intellectual capital related to structural and physical capital with corporate financial performance.

Ageing, human capital and demographic dividends with endogenous growth, labour supply and foreign capital

NARCIS (Netherlands)

Edle von Gaessler, Anne; Ziesemer, Thomas

2017-01-01

We modify a Lucas-type endogenous growth model to contain endogenous labour supply, imperfect international capital movements, and estimated interest and education time functions. Solutions based on realistic calibrations show that (i) the rate of human capital depreciation through ageing has a much

Intellectual Capital: A Focus on Human Capital Reporting Practices of Top Malaysian Listed Companies

Directory of Open Access Journals (Sweden)

Norhayati Mat Husin

2013-07-01

Full Text Available This paper aims to examine the extent of human capital (HC reporting among top Malaysian companies and introduce an HC reporting guideline that can be used by Malaysian companies and regulator. It begins by developing the HC framework based on previous intellectual capital (IC frameworks. This framework is then used to examine each of the top 100 Malaysian companies listed on the Bursa Malaysia in year 2008. Using the content analysis method, it reviews the annual reports of these companies to determine the extent of HC reporting. The findings of this paper highlight the need for the development of IC framework particularly on HC. HC differences were also identified between Malaysia and other countries such as Sri Lanka and Australia, and it is argued that these differences can be attributed to the social, economic, and political factors.Keywords: Human capital, intellectual capital, Malaysia

Capital optimization: linking investment with strategic intent.

Science.gov (United States)

Fine, Allan; Bacchetti, J Alex

2004-01-01

With operating margins showing some improvement in 2003, Y2K being a distant memory, and many critical capital investment decisions delayed as long as possible, hospitals have been on a relative spending spree, building new facilities, renovating operating rooms and inpatient units, and investing in new medical and information technologies. However, with pressure on both cost and revenue expected to continue, if not increase, this spending spree may be short-lived, and hospitals must improve their capital planning efforts; align them with their mission, vision, and strategies; and ensure that capital is available when unplanned or even expected needs arise. This article explores some of the challenges that hospitals face in their capital planning efforts and, more importantly, suggests the necessity for hospitals to integrate capital and strategic planning. Capital planning must be driven by an organization's strategies; however, we also argue that an organization's ability to execute its strategies is highly dependent on the existence of a cohesive capital prioritization and planning process. In this article, we explore a number of issues critical to developing a comprehensive capital plan, including estimating capital costs, evaluating and designing strategies to contend with risk, saving for the proverbial "rainy day," and recognizing the role and value of philanthropy, while challenging some conventional thinking of hospital executives with respect to investment, growth, and planning.

Measuring Social Capital in Hamilton, Ontario

Science.gov (United States)

Kitchen, Peter; Williams, Allison; Simone, Dylan

2012-01-01

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

Energy and the capital of nations

Science.gov (United States)

Karakatsanis, Georgios

2016-04-01

The economically useful time of fossil fuels in Earth is estimated in just ~160 years, while humanity itself counts ~150*103 years. Within only ~0,15% of this time, humanity has used more energy, accumulating so much wealth than within the rest of its existence time. According to this perspective, the availability of heat gradients is what fundamentally drives the evolution of economic systems, via the extensive enhancement -or even substitution- of human labor (Ayres and Warr 2009). In the modern industrial civilization it is estimated (Kümmel 2011) that the average human ability to generate wealth (productivity) has increased by ~40%-50% -including the effects from the growth of human population- further augmented by significant economies of scale achieved in the industrial era. This process led to significant accumulation of surpluses that generally have the form of capital. Although capital is frequently confused with the stock of mechanical equipment, capital can be generalized as any form of accumulated (not currently consumed) production factor that can deliver a benefit in the future. In that sense, capital is found in various forms, such as machinery, technology or natural resources and environmental capacities. While it is expected that anthropogenic forms of capital are accumulated along the increase of energy use, natural capital should be declining, due to the validity of the Second Law of Thermodynamics (2nd Law), entropy production and -in turn- the irreversible (monotonic) consumption of exergy (Wall 2005). Regressions of the LINear EXponential (LINEX) function (an economic growth function depending linearly on energy and exponentially on output elasticity quotients) (Lindenbeger and Kummel 2011) for a number of industrialized economies -like the USA, Germany and Japan, found that output elasticities were highest for energy (except for US where it was second highest after capital); meaning that in industrial economies, energy comprises the most

GRIST-2 preliminary test plan and requirements for fuel fabrication and preirradiation

International Nuclear Information System (INIS)

Tang, I.M.; Harmon, D.P.; Torri, A.

1978-12-01

The preliminary version of the GRIST-2 test plan has been developed for the planned initial 5 years (1984 to 1989) of TREAT-Upgrade in-pile tests. These tests will be employed to study the phenomenology and integral behavior of GCFR core disruptive accidents (CDAs) and to support the Final Safety Analysis Report (FSAR) CDA analyses for the demonstration plant licensing. The preliminary test plan is outlined. Test Phases I and II are for the fresh fuel (preconditioned or not) CDA behavior at the beginning-of-life (BOL) reactor state. Phase III is for the reactor state that contains irradiated fuel with a saturated content of helium and fission gas. Phase IV is for larger bundle tests and scaling effects

THE MARKET VALUE OF HUMAN CAPITAL: AN EMPIRICAL ANALYSIS

Directory of Open Access Journals (Sweden)

NEAGU OLIMPIA

2012-12-01

Full Text Available There is a general consensus that human capital is a major determinant of economic growth. Reflections on how human capital is related to growth can be extended by viewing on the market value of the human capital. The concept of the market value of human capital reflects the efficiency of allocation and utilisation of the human capital in the economy. To measure this efficiency the concept of the market value of human capital is explained and developed in the present paper. The aim of the paper is to introduce the concept of market value of human capital and the specific objectives are targeted to define his content, to propose a method for estimating it and to provide calculations of it for OECD countries. The concept of human capital is complex and multifaceted one, consisting of: native human capital (biological, educational capital, health capital and social skills (Neagu, 2010. Clearly, human capital is intangible, a stock that is not directly observable as physical capital. Therefore, the estimation of human capital must be constructed indirectly. The stock of human capital in economy creates economic value, expressed through the economic output per capita. In order to estimate this economic value we have to find an appropriate proxy for the human capital stock producing that value. In the purpose of our paper, we consider that the economic value of human capital can be estimated by calculating the aggregate value created by the active human capital in the economy. In this view, GDP per person employed is a relevant estimation of value created by the employed labour force. The aggregate value is created by the employed persons with different educational level. The market value of human capital is calculated by dividing the GDP per person employed to the human capital stocks active in the economy. The human capital stock depends on educational costs ( on primary, seconadry, tertiary education as a the share of GDP per capita weighted by the

13 CFR 108.230 - Private Capital for NMVC Companies.

Science.gov (United States)

2010-01-01

... VENTURE CAPITAL (âNMVCâ) PROGRAM Qualifications for the NMVC Program Capitalizing A Nmvc Company § 108.230 Private Capital for NMVC Companies. (a) General. Private Capital means the contributed capital of a NMVC... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Private Capital for NMVC Companies...

EL CAPITAL INTELECTUAL Y LA GESTIÓN DEL CONOCIMIENTO / INTELLECTUAL CAPITAL AND KNOWLEDGE MANAGEMENT

Directory of Open Access Journals (Sweden)

Marusia Monagas-Docasal

2012-04-01

Full Text Available El artículo expone el análisis de los conceptos de gestión del conocimiento y de capital intelectual, así como la valoración de 12 modelos para la medición del capital intelectual; los cuales, por sus características y conceptos de aplicación, pudieran, de manera total o parcial, emplearse en las condiciones de las empresas hoteleras cubanas. Se identifican insuficiencias en los modelos analizados, que no imposibilitan utilizar los indicadores contenidos en ellos en la medición del capital intelectual en empresas hoteleras. Como resultado, se deciden utilizar los indicadores del modelo Skandia, concentrados en 4 grupos: cliente, recursos humanos, renovación y desarrollo y procesos. De los 85 indicadores de este modelo, los expertos consideran que 23 de ellos resultan de posible aplicación en las empresas hoteleras cubanas.AbstractThe article presents an analysis of the concepts of knowledge management and intellectual capital, as well as the assessment of 12 models for measuring intellectual capital, which could be used, totally or partially, in Cuban hotel companies, due to their characteristics and application concepts. Some inadequacies in the above mentioned models are identified, which do not limit the use of their indicators in measuring intellectual capital in hotel companies. As a result, the decision is to use the indicators of the Skandia model, concentrated into 4 groups: client, human resources, renovation and development, and processes. Out of the 85 indicators of this model, experts consider that 23 can be applied in Cuban hotel companies.

Capital Structure and Profitability of Quoted Companies in Nigeria

Directory of Open Access Journals (Sweden)

AMOS O. AROWOSHEGBE. Ph.D; ACA.

2013-07-01

Full Text Available The study examined the relationship of capital structure to profitability of quoted firms in Nigeria. The study was based on a panel data set from 1996 to 2010 comprising sixty non – financial companies. The study specified two panel regression models. Two profitability measures: Net Profit Margin (NPM and Operating Profit Margin (OPM were taken as the dependent variables respectively. The principal explanatory variable for each of the models was Debt Ratio (DR. The results of the study indicated that there was a significant negative relationship between capital structure and profitability of quoted companies in Nigeria. Indeed, the results the Pecking order theory that profitable firms do not target an optimal level of leverage to balance the benefits and costs of debt financing. Rather, firms use retained earnings first, then debts and finally equity. Such firms would actually be paying high tax charges and also high operating costs arising from over dependence on the money market for their funds requirements. It was recommended that appropriate fiscal policies, relevant capital market institutional and legal framework should be put in place. These measures, we believe, will ensure better access to funds and reduce the cost of doing business.

Capital Structure: Target Adjustment Model and a Mediation Moderation Model with Capital Structure as Mediator

OpenAIRE

Abedmajid, Mohammed

2015-01-01

This study consists of two models. Model one is conducted to check if there is a target adjustment toward optimal capital structure, in the context of Turkish firm listed on the stock market, over the period 2003-2014. Model 2 captures the interaction between firm size, profitability, market value and capital structure using the moderation mediation model. The results of model 1 have shown that there is a partial adjustment of the capital structure to reach target levels. The results of...

Mudaraba-Venture Capital Closed-end Mutual Funds and Mudaraba-Venture Capital Open-end Mutual Funds

OpenAIRE

Halil Ibrahim Bulut

2008-01-01

The important part of this study attempts to explain that both venture capital and interest-free financing are based on similar ground, if not the same. Two new models called Mudaraba-Venture Capital Closed-End Mutual Funds and Mudaraba-Venture Capital Open-End Mutual Funds, based on both the similarities and the needs of financial innovation in the interest-free financing system, are detailed. It is believed that the development of these two models could make some improvements not only in th...

The power of symbolic capital in patient and public involvement in health research.

Science.gov (United States)

Locock, Louise; Boylan, Anne-Marie; Snow, Rosamund; Staniszewska, Sophie

2017-10-01

Policy-makers and health research funders increasingly require researchers to demonstrate that they have involved patients in the design and conduct of research. However, the extent to which patients and public have the power to get involved on an equal footing is dependent on their economic, cultural, social and symbolic capital. To explore power relations in patient and public involvement (PPI) in research, particularly how patients may wield symbolic capital to develop a more equal relationship. Narrative interviews with a maximum variation sample of 38 people involved as patients, carers or public in health research, analysed thematically. Symbolic capital may be demonstrated in a range of ways (sometimes alongside or in the absence of other forms of capital): illness experience, technical illness knowledge and the challenging outsider. Symbolic capital is unstable and dependent on others for recognition and legitimacy. Nonetheless, participants identify a gradual shift in power relations over time. Research into PPI has been conceptually and theoretically poor, limiting our understanding of its mechanisms and wider contextual elements. Our findings demonstrate the importance of reflecting on the forms of power and capital wielded by the health research community, and of acknowledging the way in which PPI is challenging the status quo. As one of the first papers to conceptualize how different forms of symbolic capital operate and their critical role in challenging the balance of power, our findings may help researchers better plan their PPI activities and reflect on their own power. © 2016 The Authors. Health Expectations Published by John Wiley & Sons Ltd.

Building Credible Human Capital Analytics for Organizational Competitive Advantage

DEFF Research Database (Denmark)

Minbaeva, Dana

2018-01-01

Despite the enormous interest in human capital analytics (HCA), organizations have struggled to move from operational reporting to HCA. This is mainly the result of the inability of analytics teams to establish credible internal HCA and demonstrate its value. In this article, we stress the import......Despite the enormous interest in human capital analytics (HCA), organizations have struggled to move from operational reporting to HCA. This is mainly the result of the inability of analytics teams to establish credible internal HCA and demonstrate its value. In this article, we stress...... the importance of conceptualizing HCA as an organizational capability and suggest a method for its operationalization. We argue that the development of HCA within an organization requires working with three dimensions of HCA: data quality, analytics capabilities, and strategic ability to act. Moreover, such work...

International working capital practices of Ghanaian firms

Directory of Open Access Journals (Sweden)

J. Abor

2005-12-01

Full Text Available International working capital management is important to firms frequently operating in the international market. This article investigates the international working capital practices of top Ghanaian firms involved in international trade. The objective of the study is to ascertain the extent to which Ghanaian firms use international working capital management vehicles. The article focuses on two main areas of international working capital management; international cash management and international sales and accounts receivables management. The results of this study reveal low level of use of international working capital vehicles among Ghanaian firms. Recommendations are made in this regard.

Education - an investment in human capital

Directory of Open Access Journals (Sweden)

Daniela Neamţu

2012-12-01

Full Text Available Formal education, personal abilities and the health state play an important role in this paper. Those are all essential constituent elements of the human capital. In the present paper we intend to present briefly the fundamental concepts of the human capital, with an emphasis on education and abilities. We also mark out the importance of the human capital development in the purpose of maintaining the development and the motivation of the human resources, which are the main premises organizations need to capitalize. The higher education has a determinant role in the attainment of this desideratum.

The offense of capital market manipulation

Directory of Open Access Journals (Sweden)

Laura MANEA

2012-01-01

Full Text Available The novelty and use of current technology in stock exchange trading operations are just a few reasons for which the capital market domain is a controversial one, and the number of crimes already committed in the financial market raises the issue of securing the supply-demand relationship of capital and capital investment protection. If in the Community law there is no incrimination of market abuse, Romanian legislature sanctioned the capital market manipulation as criminal acts committed intentionally in order to discourage such practices and also to increase the confidence of investors in the financial market

Taxation and venture capital-backed entrepreneurship

DEFF Research Database (Denmark)

Keuschnigg, Christian; Nielsen, Søren Bo

2003-01-01

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

'Blue' social capital and work performance

DEFF Research Database (Denmark)

Grøn, Sisse; Svendsen, Gunnar Lind Haase

2012-01-01

(Progoulaki & Roe 2011). This challenges social capital on board, i.e. the resources inherent in network cooperation associated with norms of reciprocity and trust (Putnam 2000: 19). Fragmentizing ‘blue’ social capital should however be restored, because work performance depends on the quality of cooperation...... findings suggest that a balance between three types of social capital – bonding, bridging and linking – is needed to achieve a high-performance work system (Gittell et al. 2010). Hence, main actors within the shipping sector should take ‘blue’ social capital into account in order to increase work...... efficiency and economic performance....

Instrumental Capital

Directory of Open Access Journals (Sweden)

Gabriel Valerio

2007-07-01

Full Text Available During the history of human kind, since our first ancestors, tools have represented a mean to reach objectives which might otherwise seemed impossibles. In the called New Economy, where tangibles assets appear to be losing the role as the core element to produce value versus knowledge, tools have kept aside man in his dairy work. In this article, the author's objective is to describe, in a simple manner, the importance of managing the organization's group of tools or instruments (Instrumental Capital. The characteristic conditions of this New Economy, the way Knowledge Management deals with these new conditions and the sub-processes that provide support to the management of Instrumental Capital are described.

Social capital and technological literacy in Taiwan.

Science.gov (United States)

Yang, Hsieh-Hua; Huang, Fen Fen; Lai, Yi-Horng; Yang, Hung-Jen; Yu, Jui-Chen

2012-01-01

The burgeoning interest in social capital within the technology community represents a welcome move towards a concern for the social elements of technological adaptation and capacity. Since technology plays an ever larger role in our daily life, it is necessary to articulate social capital and its relationship to technological literacy. A nationwide data was collected by area sampling, and position generator was used to measure social capital. Regression model was constructed for technological literacy. Age, gender, education, income, web access, and social capital were included as independent variables. The results show that age, gender, education, web access, and social capital were good predictors of technological literacy. It is concluded that social capital is helpful in coping with rapid technological change. Theoretical and empirical implications and future research are discussed.

Measuring Social Capital Accumulation in Rural Development

DEFF Research Database (Denmark)

Teilmann, Kasper

2012-01-01

Using a theoretical framework, the study proposes an index that can measure the social capital of local action group (LAG) projects. The index is founded on four indicators: number of ties, bridging social capital, recognition, and diversity, which are aggregated into one social capital index....... The index has been tested in LAG-Djursland, Denmark, and the study further investigates whether the organisational affiliation, project financing, and LAG co-financing can explain the degree of social capital accumulation. Furthermore, the author has tested if there are connections between motivation...... for pursuing development projects similar to those implemented previously and the degree of social capital. The paper concludes that there are indications that projects hosted by municipalities tend to show the most social capital, there is no connection between the amount of project financing and social...

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

NARCIS (Netherlands)

Inklaar, Robert

2008-01-01

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

Social capital of organizations : from social structure to the management of corporate social capital

NARCIS (Netherlands)

Gabbay, Shaul M.; Leenders, Roger Th.A.J.

2002-01-01

Social capital in general and the study of social capital in the context of organizations has gained considerable attention in recent years. Despite the promise in the potency of the concept, its useful application suffers from the plethora of different definitions and approaches—both theoretical

Intellectual capital: Measurement, recognition and reporting

Directory of Open Access Journals (Sweden)

Christo Johannes Cronje

2013-02-01