WorldWideScience

Sample records for preliminary capital requirements

  1. Capital Requirements and Banks' Leniency

    DEFF Research Database (Denmark)

    Dietrich, J. Kimball; Wihlborg, Clas

    2003-01-01

    We investigate the effect of changes in capital regulation on the strictness(leniency) of loan terms using a simple model of bank capital requirements andasset quality examinations. Banks offer different levels of `leniency' in the senseof willingness to offer automatic extensions of loans...... in the presence of temporarypayment difficulties of borrowers. Banks offering lenient (less strict) loan termsmust have higher initial levels of capital and charge higher loan rates. Whencapital requirements are increased, both strict and lenient banks hold higher levelsof initial capital and they raise loan...... rates. As capital requirements increase thedifference between initial capital levels and between interest rates of strict andlenient banks decrease. Thus, higher capital requirements in recessions tend toreduce the interest rate premium paid for leniency. If a recession is interpreted asan increase...

  2. Regulatory capital requirements and bail in mechanisms

    NARCIS (Netherlands)

    Joosen, B.P.M.; Haentjens, M.; Wessels, B.

    2015-01-01

    With the introduction of the Capital Requirements Regulation (CRR) in the European Union, the qualitative requirements for bank regulatory capital have changed. These changes aim at implementing in Europe the Basel III principles for better bank capital that is able to absorb losses of banks,

  3. Regulatory capital requirements and bail in mechanisms

    NARCIS (Netherlands)

    Joosen, B.P.M.; Haentjens, M.; Wessels, B.

    2015-01-01

    With the introduction of the Capital Requirements Regulation (CRR) in the European Union, the qualitative requirements for bank regulatory capital have changed. These changes aim at implementing in Europe the Basel III principles for better bank capital that is able to absorb losses of banks, withou

  4. 12 CFR 615.5240 - Permanent capital requirements.

    Science.gov (United States)

    2010-01-01

    ... capital requirements. (a) The capitalization bylaws shall enable the institution to meet the capital adequacy standards established under subparts H and K of this part and the total capital requirements... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Permanent capital requirements....

  5. 12 CFR 932.3 - Risk-based capital requirement.

    Science.gov (United States)

    2010-01-01

    ... credit risk capital requirement, its market risk capital requirement, and its operations risk capital... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Risk-based capital requirement. 932.3 Section 932.3 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND...

  6. 12 CFR 932.4 - Credit risk capital requirement.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Credit risk capital requirement. 932.4 Section 932.4 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL REQUIREMENTS § 932.4 Credit risk capital requirement....

  7. The ES for Estimating Capital Requirement

    Institute of Scientific and Technical Information of China (English)

    余雪丽; Y.D.Tse; 等

    1989-01-01

    In this paper,an expert system for estimating capital requirement is briefly illustrated.including the essential construction of the simulation model.Then various factors which have impact on the manager's decision making,the datails of the program using the GURU environment,and the major roles of the human experts and the knowledge engineer are described.

  8. Companies' human capital required for collaboration

    DEFF Research Database (Denmark)

    Albats, Ekaterina; Bogers, Marcel; Podmetina, Daria

    building, relationship building, IPR management and negotiation for the context of collaboration with universities. Our research has revealed an importance of expectation management skills for university-industry collaboration (UIC) context. We found that human capital for UIC is to be continuously......Universities are widely acknowledged as an important source of knowledge for corporate innovation, and collaboration with universities plays an important role in companies’ open innovation strategy. However, little is known about the human capital components required for collaboration...... with universities. Analysing the results of the survey among over 500 company managers we define the universal employees’ skills required for company’ successful collaborations with external stakeholders. Then through analysing qualitative interviews data we distinguish between these skills and capabilities...

  9. Time-varying Capital Requirements and Disclosure Rules

    DEFF Research Database (Denmark)

    Kragh, Jonas; Rangvid, Jesper

    Unique and confidential Danish data allow us to identify how changes in disclosure requirements and bank-specific time-varying capital requirements affect banks' lending and capital accumu-lation decisions. We find that banks increase their capital ratios after capital requirements are increased......, implying that resilience in the banking system is also increased. The increase in capital ratios is partly due to a modest reduction in lending. Using a policy changes, we show that banks react stronger to changes in capital requirements when these are public. Our results further suggest that the impact...... of capital requirements differ for small and large banks. Large banks raise their capital ratios more, reduce lending less, and accumulate more new capital compared to small banks....

  10. 12 CFR 932.6 - Operations risk capital requirement.

    Science.gov (United States)

    2010-01-01

    ... operations risk capital requirement shall at all times equal 30 percent of the sum of the Bank's credit risk... percent but no less than 10 percent of the sum of the Bank's credit risk capital requirement and market... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Operations risk capital requirement. 932.6...

  11. 12 CFR 932.2 - Total capital requirement.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Total capital requirement. 932.2 Section 932.2 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL... assets; and (2) A leverage ratio of total capital to total assets of at least 5.0 percent of the...

  12. 12 CFR 567.3 - Individual minimum capital requirements.

    Science.gov (United States)

    2010-01-01

    ... risk, credit risk, concentration of credit risk, certain risks arising from nontraditional activities... operating risks, particularly the risks presented by concentrations of credit and nontraditional activities... capital requirement for a savings association that varies from the risk-based capital requirement,...

  13. 13 CFR 108.210 - Minimum capital requirements for NMVC Companies.

    Science.gov (United States)

    2010-01-01

    ... NEW MARKETS VENTURE CAPITAL (âNMVCâ) PROGRAM Qualifications for the NMVC Program Capitalizing A Nmvc Company § 108.210 Minimum capital requirements for NMVC Companies. You must have Regulatory Capital of at... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Minimum capital requirements...

  14. Evaluation of Foreign Exchange Risk Capital Requirement Models

    Directory of Open Access Journals (Sweden)

    Ricardo S. Maia Clemente

    2005-12-01

    Full Text Available This paper examines capital requirement for financial institutions in order to cover market risk stemming from exposure to foreign currencies. The models examined belong to two groups according to the approach involved: standardized and internal models. In the first group, we study the Basel model and the model adopted by the Brazilian legislation. In the second group, we consider the models based on the concept of value at risk (VaR. We analyze the single and the double-window historical model, the exponential smoothing model (EWMA and a hybrid approach that combines features of both models. The results suggest that the Basel model is inadequate to the Brazilian market, exhibiting a large number of exceptions. The model of the Brazilian legislation has no exceptions, though generating higher capital requirements than other internal models based on VaR. In general, VaR-based models perform better and result in less capital allocation than the standardized approach model applied in Brazil.

  15. 12 CFR 932.5 - Market risk capital requirement.

    Science.gov (United States)

    2010-01-01

    ... Bank's book value of total capital, where: (A) The current market value of the total capital is...) of this section; and (B) The book value of total capital is the same as the amount of total capital... such that the probability of a loss greater than that estimated shall be no more than one percent;...

  16. Yoga practices as identity capital: preliminary notes from Turku, Finland

    Directory of Open Access Journals (Sweden)

    Måns Broo

    2012-01-01

    Full Text Available As elsewhere in Finland, different types of yoga practices are popular in the city of Åbo/Turku. But how do practitioners view their own relationship to their practice, and further, what do they feel that they as individuals gain from it? Through in-depth interviews with yoga teachers in the city of Turku, the author examines ways in which individuals, in what could be called a post-secular society, construct a meaningful sense of self and of individual agency. The observations offered in this article represent preliminary notes for a larger work on yoga in Turku, conducted at the ‘Post-Secular Culture and a Changing Religious Landscape’ research project at Åbo Akademi University, devoted to qualitative and ethnographic investigations of the changing religious landscape in Finland.

  17. 12 CFR 567.9 - Tangible capital requirement.

    Science.gov (United States)

    2010-01-01

    ... association's tangible capital: (1) Common stockholders' equity (including retained earnings); (2) Noncumulative perpetual preferred stock and related earnings; (3) Nonwithdrawable accounts and pledged deposits...

  18. 40 CFR 35.3550 - Specific capitalization grant agreement requirements.

    Science.gov (United States)

    2010-07-01

    ... section 1452 of the Act; and (3) Assets, liabilities, capital contributions, and retained earnings. (j... capitalization grant funds, State match, interest earnings, net bond proceeds, repayments, and funds used for set... activities. (3) A State must agree to deposit net bond proceeds, interest earnings, and repayments into the...

  19. Risk-Sensitive Capital Requirements and Pro-Cyclicality in Lending

    OpenAIRE

    2010-01-01

    Risk-sensitive capital requirements aim at enforcing appropriate minimum amounts of capital to absorb losses resulting from credit defaults and other risk sources. These requirements are considered to be important as they are supposed to strengthen financial stability. Nevertheless, practitioners and scholars have worried about negative side effects arising from capital-based regulation such as the reinforcement of cyclicality in lending. These concerns are based upon the notion that regulato...

  20. The Optimal Capital Structure of Banks: Balancing Deposit Insurance, Capital Requirements and Tax-Advantaged Debt

    OpenAIRE

    John P. Harding; Xiaozhing Liang; Stephen L. Ross

    2007-01-01

    The capital structure and regulation of financial intermediaries is an important topic for practitioners, regulators and academic researchers. In general, theory predicts that firms choose their capital structures by balancing the benefits of debt (e.g., tax and agency benefits) against its costs (e.g., bankruptcy costs). However, when traditional corporate finance models have been applied to insured financial institutions, the results have generally predicted corner solutions (all equity or ...

  1. 12 CFR 956.4 - Risk-based capital requirement for investments.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Risk-based capital requirement for investments... OFF-BALANCE SHEET ITEMS FEDERAL HOME LOAN BANK INVESTMENTS § 956.4 Risk-based capital requirement for investments. Each Bank shall hold retained earnings plus general allowance for losses as support for...

  2. Chilean Unremunerated Reserve Requirement Capital Controls as a Screening Mechanism

    Directory of Open Access Journals (Sweden)

    Thomas I. Palley

    2005-01-01

    Full Text Available Este trabajo presenta un modelo sobre los “speed bump” (topes a los controles de capital de tipo chileno, que los interpreta como un mecanismo para identificar a los inversores volátiles. Esta interpretación es contrastada con la explicación basada en las finanzas poeblicas, cuyo punto de vista muestra a los topes como un impuesto sobre ingresos de capital a corto plazo que incrementan su precio relativo. Un resultado sorprendente es que aun cuando los topes incrementan el costo del capital, ellos pueden realmente incrementar los ingresos de capital. Estos ingresos crecientes son más estables porque provienen de los inversionistas pacientes. La lección es que discriminar a los inversores volátiles estabiliza el ambiente financiero. Los topes benefician tanto a las empresas como a los inversionistas pacientes al reducir el daño que podría provenir de salidas repentinas de capital, lo cual aumenta la demanda y la oferta de capital.

  3. 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...

  4. 12 CFR 950.11 - Capital stock requirements; unilateral redemption of excess stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Capital stock requirements; unilateral redemption of excess stock. 950.11 Section 950.11 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK ASSETS AND OFF-BALANCE SHEET ITEMS ADVANCES Advances to Members § 950.11 Capital...

  5. 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.

  6. Franchise Values, Regulatory Monitoring, and Capital Requirements in Optimal Bank Regulation

    DEFF Research Database (Denmark)

    Andersen, Thomas Barnebeck; Harr, Thomas

    2008-01-01

    This paper demonstrates that financial deregulation is likely to make standard prudential regulatory instruments less effective in curbing excessive risk-taking incentives among banks. This has interesting implications for optimal bank regulation. When there is an increase in competition......, the optimal capital requirement should increase, whereas regulatory auditing should decrease. In contrast, when there is an increase in gambling yields, auditing should always increase, whereas the optimal capital requirement may increase or decrease....

  7. 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.

  8. RETURN ON CURRENT ASSETS, WORKING CAPITAL AND REQUIRED RATE OF RETURN ON EQUITY

    Directory of Open Access Journals (Sweden)

    Monika Bolek

    2014-08-01

    Full Text Available The problem of return on current assets and return on working capital related to the cost of equity invested in a company is analyzed in this paper. Risk – return and liquidity – profitability trade-offs influence the company’s equilibrium and management decisions. Liquidity is measured by the cash conversion cycle and it is related to the working capital strategy, measured by current ratio. Rate of return on current assets should be related to the rate of return on working capital that is linked to the cost of capital and the required rate of return. The results indicate that there is a positive relationship between the return on current assets and cash conversion cycle, a positive relationship between cost of equity and return on working capital meaning that the working capital, cash conversion cycle and current assets management are related to profitability, and cost of equity is determined by the required rate of return calculated based on the Capital Asset Pricing Model.

  9. 76 FR 27801 - Capital Requirements of Swap Dealers and Major Swap Participants

    Science.gov (United States)

    2011-05-12

    ... designed to require a minimum level ] of liquid assets in excess of the FCM's liabilities to provide... countries. In 1988, the Basel Committee published a document titled the ``International Convergence of... SD or MSP would be required to comply with a regulatory capital requirement equal to or in excess...

  10. 77 FR 70213 - Capital, Margin, and Segregation Requirements for Security-Based Swap Dealers and Major Security...

    Science.gov (United States)

    2012-11-23

    ... Swaps c. Risk Management d. Funding Liquidity Stress Test Requirement e. Other Rule 15c3-1 Provisions... Haircuts iii. Capital Charge in Lieu of Margin Collateral iv. Credit Risk Charge v. Funding Liquidity Stress Test Requirement vi. Risk Management Procedures b. Capital Requirements for MSBSPs c...

  11. 13 CFR 120.473 - Procedures for determining individual minimum capital requirement.

    Science.gov (United States)

    2010-01-01

    ... individual minimum capital requirement. 120.473 Section 120.473 Business Credit and Assistance SMALL BUSINESS ADMINISTRATION BUSINESS LOANS Lenders Small Business Lending Companies (sblc) § 120.473 Procedures for... its response time. In its discretion, SBA may extend the time period for good cause. (c) Failure...

  12. 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 ba

  13. 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 b

  14. 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...

  15. 76 FR 27563 - Margin and Capital Requirements for Covered Swap Entities

    Science.gov (United States)

    2011-05-11

    ...) developed the first international banking capital framework in 1988, entitled International Convergence of... of the institution's total assets, or $1 billion or more. \\29\\ See BCBS, International Convergence of... amount, respectively, the covered swap entity would be required to collect the excess amount....

  16. 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...

  17. Computer-aided hepatic tumour ablation requirements and preliminary results

    CERN Document Server

    Voirin, D; Amavizca, M; Letoublon, C; Troccaz, J; Voirin, David; Payan, Yohan; Amavizca, Miriam; Letoublon, Christian; Troccaz, Jocelyne

    2002-01-01

    Surgical resection of hepatic tumours is not always possible, since it depends on different factors, among which their location inside the liver functional segments. Alternative techniques consist in local use of chemical or physical agents to destroy the tumour. Radio frequency and cryosurgical ablations are examples of such alternative techniques that may be performed percutaneously. This requires a precise localisation of the tumour placement during ablation. Computer-assisted surgery tools may be used in conjunction with these new ablation techniques to improve the therapeutic efficiency, whilst they benefit from minimal invasiveness. This paper introduces the principles of a system for computer-assisted hepatic tumour ablation and describes preliminary experiments focusing on data registration evaluation. To keep close to conventional protocols, we consider registration of pre-operative CT or MRI data to intra-operative echographic data.

  18. Electronic Warfare M-on-N Digital Simulation Logging Requirements and HDF5: A Preliminary Analysis

    Science.gov (United States)

    2017-04-12

    E. Jarvis Electronic Warfare M-on- N Digital Simulation Logging Requirements and HDF5: A Preliminary Analysis Advanced Techniques Branch Tactical...12-04-2017 NRL Memorandum Report Electronic Warfare M-on- N Digital Simulation Logging Requirements and HDF5: A Preliminary Analysis Donald E...ELECTRONIC WARFARE M-ON- N DIGITAL SIMULATION LOGGING REQUIREMENTS AND HDF5: A PRELIMINARY ANALYSIS 1. INTRODUCTION HDF5 technology [Folk] has been

  19. 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...

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

    Directory of Open Access Journals (Sweden)

    Bahriddin Berdiyarov

    2012-03-01

    Full Text Available 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 presented.  At the end, the author gives his conclusions on the essence and necessity of new regulatory standards of the Basel Committee on bank’s supervision in the structure of the supervision of credit institutions.

  1. Capital requirements for the transportation of energy materials: 1979 ARC estimates. Draft final report

    Energy Technology Data Exchange (ETDEWEB)

    1980-08-13

    This report contains TERA's estimates of capital requirements to transport natural gas, crude oil, petroleum products, and coal in the United States by 1990. The low, medium, and high world-oil-price scenarios from the EIA's Mid-range Energy Forecasting System (MEFS), as used in the 1979 Annual Report to Congress (ARC), were provided as a basis for the analysis and represent three alternative futures. TERA's approach varies by energy commodity to make best use of the information and analytical tools available. Summaries of transportation investment requirements through 1990 are given. Total investment requirements for three modes (pipelines, rails, waterways and the three energy commodities can accumulate to a $49.9 to $50.9 billion range depending on the scenario. The scenarios are distinguished primarily by the world price of oil which, given deregulation of domestic oil prices, affects US oil prices even more profoundly than in the past. The high price of oil, following the evidence of the last year, is projected to hold demand for oil below the recent past.

  2. 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

  3. Return on current assets, working capital and required rate of return on equity

    OpenAIRE

    2014-01-01

    The problem of return on current assets and return on working capital related to the cost of equity invested in a company is analyzed in this paper. Risk – return and liquidity – profitability trade-offs influence the company’s equilibrium and management decisions. Liquidity is measured by the cash conversion cycle and it is related to the working capital strategy, measured by current ratio. Rate of return on current assets should be related to the rate of return on working capital that is li...

  4. 76 FR 35351 - Capital Plans

    Science.gov (United States)

    2011-06-17

    ..., implementing, and monitoring a bank holding company's capital planning strategies and internal capital adequacy... requirements into their capital planning strategies and internal capital adequacy processes, including the... presentation of a company's capital planning strategies and capital adequacy processes that includes (i) An...

  5. Ecological Footprints and Appropriated Carrying Capacity: Measuring the Natural Capital Requirements of the Human Economy.

    Science.gov (United States)

    Ress, William E.; Wackernagel, Mathis

    1996-01-01

    Contrasts conventional economic rationality with economic principles. Develops an empirical approach based on a reinterpretation of carrying capacity that can account for technological advances and trade. Discusses the necessity of diverting much of the present consumption to investment in the maintenance of natural capital stocks. (AIM)

  6. 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...... expenditures, political legitimacy and financial markets. Boltanski and Chiapello's analysis of the projective city and connexionist logic captures important elements of capitalism in the era of neo-liberalism. However, as their analysis shows, any such logics require ‘spirit’, legitimacy and justification...... if they are to be sustained. Such logics are stabilized to the degree that they can pass the tests which they set themselves. The chapter shows how the projective city has increasingly failed these tests. It has instead created a privileged group of ‘mobile citizens’ working with mobile, global capital in ways...

  7. Preliminary Requirement of Hot Pool Free Surface Level from PGSFR Reactor Head

    Energy Technology Data Exchange (ETDEWEB)

    Koo, Gyeonghoi; Joo, Hyeongkook [Korea Atomic Energy Research Institute, Daejeon (Korea, Republic of)

    2014-05-15

    The sensitivity study on structural integrity evaluations are carried out to make a decision of a hot pool free surface location from the reactor head for a preliminary designed reactor enclosure system. To do this, the thermal stress evaluations for a reactor vessel are carried out for a steady state normal operating condition with detailed heat transfer analyses through the reactor enclosure system. From these results, the preliminary design requirement of a hot pool free surface location from the reactor head is established to be 2.0m. From the sensitivity studies on the structural integrity evaluations for a steady state condition, the preliminary distance from the hot pool free surface to the reactor head is determined to be 2.0m same as a conceptual design. More detailed structural analyses for a reactor enclosure system will be carried out as a PGSFR structural design goes forward in detail.

  8. From capital to capital

    Institute of Scientific and Technical Information of China (English)

    2002-01-01

    HOW easy it is for one who lives in Beijing, capital of the country, to have the impression that all things significant happen there! This is to forget how there are now many provincial capitals in China, that are rapidly modernizing. In order to achieve such modernization, these cities, like

  9. Air Force Working Capital Fund: Actions Needed to Manage Cash Balances to Required Levels

    Science.gov (United States)

    2014-07-01

    may transfer budget authority only as authorized by law. “ cash levels should be maintained at 7 to 10 days of operational cost and six months of...USTRANSCOM documentation to ascertain the reasons.6 To address the second objective, we obtained and analyzed AFWCF budget documents and cash ...requirement, we analyzed DOD budget and accounting reports to determine the dollar amount of transfers made for the period. We analyzed cash transfers

  10. The Impact of Reinsurance Strategies on Capital Requirements for Premium Risk in Insurance

    Directory of Open Access Journals (Sweden)

    Gian Paolo Clemente

    2015-06-01

    Full Text Available New risk-based solvency requirements for insurance companies across European markets have been introduced by Solvency II and will come in force from 1 January 2016. These requirements, derived by a Standard Formula or an Internal Model, will be by far more risk-sensitive than the required solvency margin provided by the current legislation. In this regard, a Partial Internal Model for Premium Risk is developed here for a multi-line Non-Life insurer. We follow a classical approach based on a Collective Risk Model properly extended in order to consider not only the volatility of aggregate claim amounts but also expense volatility. To measure the effect of risk mitigation, suitable reinsurance strategies are pursued. We analyze how naïve coverage as conventional Quota Share and Excess of Loss reinsurance may modify the exact moments of the distribution of technical results. Furthermore, we investigate how alternative choices of commission rates in proportional treaties may affect the variability of distribution. Numerical results are also figured out in the last part of the paper with evidence of different effects for small and large companies. The main reasons for these differences are pointed out.

  11. Social capital

    OpenAIRE

    Landhäußer, Sandra; Ziegler, Holger

    2003-01-01

    This paper surveys research on social capital. We explore the concepts that motivate the social capital literature, efforts to formally model social capital using economic theory, the econometrics of social capital, and empirical studies of the role of social capital in various socioeconomic outcomes. While our focus is primarily on the place of social capital in economics, we do consider its broader social science context. We argue that while the social capital literature has produced many i...

  12. 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.

  13. Software requirements flow-down and preliminary software design for the G-CLEF spectrograph

    Science.gov (United States)

    Evans, Ian N.; Budynkiewicz, Jamie A.; DePonte Evans, Janet; Miller, Joseph B.; Onyuksel, Cem; Paxson, Charles; Plummer, David A.

    2016-08-01

    The Giant Magellan Telescope (GMT)-Consortium Large Earth Finder (G-CLEF) is a fiber-fed, precision radial velocity (PRV) optical echelle spectrograph that will be the first light instrument on the GMT. The G-CLEF instrument device control subsystem (IDCS) provides software control of the instrument hardware, including the active feedback loops that are required to meet the G-CLEF PRV stability requirements. The IDCS is also tasked with providing operational support packages that include data reduction pipelines and proposal preparation tools. A formal, but ultimately pragmatic approach is being used to establish a complete and correct set of requirements for both the G-CLEF device control and operational support packages. The device control packages must integrate tightly with the state-machine driven software and controls reference architecture designed by the GMT Organization. A model-based systems engineering methodology is being used to develop a preliminary design that meets these requirements. Through this process we have identified some lessons that have general applicability to the development of software for ground-based instrumentation. For example, tasking an individual with overall responsibility for science/software/hardware integration is a key step to ensuring effective integration between these elements. An operational concept document that includes detailed routine and non- routine operational sequences should be prepared in parallel with the hardware design process to tie together these elements and identify any gaps. Appropriate time-phasing of the hardware and software design phases is important, but revisions to driving requirements that impact software requirements and preliminary design are inevitable. Such revisions must be carefully managed to ensure efficient use of resources.

  14. 78 FR 62417 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

    Science.gov (United States)

    2013-10-22

    ... Part 324 RIN 3064-AD95 Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy, Transition Provisions, Prompt Corrective Action, Standardized Approach for Risk-Weighted Assets, Market Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule,...

  15. 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.

  16. District energy: an important factor in the socially and environmentally responsible solution for the electric power industry; (requiring greater accelerated capital cost allowance treatment for income tax purposes)

    Energy Technology Data Exchange (ETDEWEB)

    Boucher, P. [HSBC James Capel Canada Inc. (Canada); Stevens, S. [Business Development Consumers Utilities (Canada)

    1996-09-01

    The considerable amount of risk associated with the investment in district energy systems was discussed. It was explained that district energy projects frequently require additional capital allowances, particularly in the initial years of a typical project, in order to attract private capital investments to the industry. Advantages of district energy systems were reviewed, among them reduction in CO{sub 2} and NO{sub x} emissions, enhancing energy conservation through the use of high efficiency boilers or thermal waste energy, increasing tax revenue at various levels of government, providing much-needed capital injection into communities, providing construction and operation jobs, and allowing electric utilities to offer cogeneration from older plants helping to avoid stranded investments. 1 tab.

  17. Capital y capital social

    OpenAIRE

    Bolívar Espinoza, Gardy Augusto; Elizalde, Antonio

    2012-01-01

    La perspectiva teórica del Capital, del siglo XIX, aparece alejada del capital social del siglo XXI.  Ambas, con la misma raíz, sin embargo, pareciera que no se tocan, ni teórica ni prácticamente.  Quizás, sería pertinente escudriñar esta relación. Desde la década de los noventa, el tema del “capital social” ha sido visto por muchos estudiosos de la realidad social contemporánea como una propuesta promisoria, transversal y hegemónica. Tanto desde la economía, las ciencias morales, la ciencia ...

  18. Thirty Meter Telescope: observatory software requirements, architecture, and preliminary implementation strategies

    Science.gov (United States)

    Silva, David R.; Angeli, George; Boyer, Corinne; Sirota, Mark; Trinh, Thang

    2008-07-01

    The Thirty Meter Telescope (TMT) will be a ground-based, 30-m optical-IR alt-az telescope with a highly segmented primary mirror located in a remote location. Efficient science operations require the asynchronous coordination of many different sub-systems including telescope mount, three independent active optics sub-systems, adaptive optics, laser guide stars, and user-configured science instrument. An important high-level requirement is target acquisition and observatory system configuration must be completed in less than 5 minutes (or 10 minutes if moving to a new instrument). To meet this coordination challenge and target acquisition time requirement, a distributed software architecture is envisioned consisting of software components linked by a service-based software communications backbone. A master sequencer coordinates the activities of mid-layer sequencers for the telescope, adaptive optics, and selected instrument. In turn, these mid-layer sequencers coordinate the activities of groups of sub-systems. In this paper, TMT observatory requirements are presented in more detail, followed by a description of the design reference software architecture and a discussion of preliminary implementation strategies.

  19. Capital y capital social

    OpenAIRE

    Avalos-Lozano, José Antonio; Barrientos,Jaime; Bolívar Espinoza, Gardy Augusto; Brower Beltramin, Jorge; Cabrera, Cecilia; Caloca Osorio, Oscar Rogelio; Castro Sáez, Bernardo; Ceberio de León, Iñaki; Cleary, Eda; Córdova, María Gabriela; Cuéllar Saavedra, Óscar; Elizalde, Antonio; Flores Vega, Leonel; Gajardo Cornejo, Claudio; Garcés, Alejandro

    2011-01-01

    Desde la década de los noventa, el tema del “capital social” ha sido visto por muchos estudiosos de la realidad social contemporánea como una propuesta promisoria, transversal y hegemónica. Tanto desde la economía, las ciencias morales, la ciencia y la sociología política, expertos de diversas instituciones internacionales han concurrido a este campo en busca de soluciones para el diseño de políticas públicas, que es donde parece brillar más este concepto. El “capital social”, sin embargo, –a...

  20. Capital y capital social

    OpenAIRE

    Avalos-Lozano, José Antonio; Barrientos,Jaime; Bolívar Espinoza, Gardy Augusto; Brower Beltramin, Jorge; Cabrera, Cecilia; Caloca Osorio, Oscar Rogelio; Castro Sáez, Bernardo; Ceberio de León, Iñaki; Cleary, Eda; Córdova, María Gabriela; Cuéllar Saavedra, Óscar; Elizalde, Antonio; Flores Vega, Leonel; Gajardo Cornejo, Claudio; Garcés, Alejandro

    2011-01-01

    Desde la década de los noventa, el tema del “capital social” ha sido visto por muchos estudiosos de la realidad social contemporánea como una propuesta promisoria, transversal y hegemónica. Tanto desde la economía, las ciencias morales, la ciencia y la sociología política, expertos de diversas instituciones internacionales han concurrido a este campo en busca de soluciones para el diseño de políticas públicas, que es donde parece brillar más este concepto. El “capital social”, sin embargo, –a...

  1. 13 CFR 120.462 - What are SBA's additional requirements on capital maintenance for SBA Supervised Lenders?

    Science.gov (United States)

    2010-01-01

    ...) Sufficiency of liquidity; and (vi) Any other risk-oriented activities or conditions that warrant additional.... The board of directors (or management, if the SBA Supervised Lender is a division of another company... capital that each SBA Supervised Lender must maintain to protect against the credit risk and other...

  2. 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.

  3. The Habitable Exoplanet (HabEx) Imaging Mission: preliminary science drivers and technical requirements

    Science.gov (United States)

    Mennesson, Bertrand; Gaudi, Scott; Seager, Sara; Cahoy, Kerri; Domagal-Goldman, Shawn; Feinberg, Lee; Guyon, Olivier; Kasdin, Jeremy; Marois, Christian; Mawet, Dimitri; Tamura, Motohide; Mouillet, David; Prusti, Timo; Quirrenbach, Andreas; Robinson, Tyler; Rogers, Leslie; Scowen, Paul; Somerville, Rachel; Stapelfeldt, Karl; Stern, Daniel; Still, Martin; Turnbull, Margaret; Booth, Jeffrey; Kiessling, Alina; Kuan, Gary; Warfield, Keith

    2016-07-01

    HabEx is one of four candidate flagship missions being studied in detail by NASA, to be submitted for consideration to the 2020 Decadal Survey in Astronomy and Astrophysics for possible launch in the 2030s. It will be optimized for direct imaging and spectroscopy of potentially habitable exoplanets, and will also enable a wide range of general astrophysics science. HabEx aims to fully characterize planetary systems around nearby solar-type stars for the first time, including rocky planets, possible water worlds, gas giants, ice giants, and faint circumstellar debris disks. In particular, it will explore our nearest neighbors and search for signs of habitability and biosignatures in the atmospheres of rocky planets in the habitable zones of their parent stars. Such high spatial resolution, high contrast observations require a large (roughly greater than 3.5m), stable, and diffraction-limited optical space telescope. Such a telescope also opens up unique capabilities for studying the formation and evolution of stars and galaxies. We present some preliminary science objectives identified for HabEx by our Science and Technology Definition Team (STDT), together with a first look at the key challenges and design trades ahead.

  4. The Habitable Exoplanet (HabEx) Imaging Mission: Preliminary Science Drivers and Technical Requirements

    Science.gov (United States)

    Gaudi, B. Scott; Habitable Exoplanet Imaging Mission Science and Technology Definition Team

    2017-01-01

    HabEx is one of four candidate flagship missions being studied in detail by NASA, to be submitted for consideration to the 2020 Decadal Survey in Astronomy and Astrophysics for possible launch in the 2030s. It will be optimized for direct imaging and spectroscopy of potentially habitable exoplanets, and will also enable a wide range of general astrophysics science. HabEx aims to fully characterize planetary systems around nearby solar-type stars for the first time, including rocky planets, possible water worlds, gas giants, ice giants, and faint circumstellar debris disks. In particular, it will explore our nearest neighbors and search for signs of habitability and biosignatures in the atmospheres of rocky planets in the habitable zones of their parent stars. Such high spatial resolution, high contrast observations require a large (roughly greater than 3.5m), stable, and diffraction-limited optical space telescope. Such a telescope also opens up unique capabilities for studying the formation and evolution of stars and galaxies. We present some preliminary science objectives identified for HabEx by our Science and Technology Definition Team (STDT), together with a first look at the key challenges and design trades ahead.

  5. 12 CFR 208.4 - Capital adequacy.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 2 2010-01-01 2010-01-01 false Capital adequacy. 208.4 Section 208.4 Banks and... Requirements § 208.4 Capital adequacy. (a) Adequacy. A member bank's capital, as defined in appendix A to this...) Standards for evaluating capital adequacy. Standards and guidelines by which the Board evaluates the...

  6. Intellectual Capital

    DEFF Research Database (Denmark)

    Mouritsen, Jan; Bukh, Per Nikolaj

    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...... it forms a starting point for understanding and managing value-creating processes. Three distinct agendas within IC management and research can be identified. The first concerns to measure the components of IC, the second attempts to relate indicators to effects using statistical models, while the third...

  7. Required Preliminary Administrative Service Credential Program Culminating Activities in California NCATE Accredited Universities

    Science.gov (United States)

    Wildman, Louis

    2014-01-01

    The purpose of this effort is to share information about the variety of culminating activities used in the acquisition of the California Preliminary Administrative Services Credential. Knowledge of these varying culminating activities and related practices has not previously been readily available. The culminating activities among California's…

  8. Celebration Capitalism

    OpenAIRE

    Boykoff, Jules

    2014-01-01

    Capitalism is a nimble shapeshifter. In this talk Jules Boykoff draws from the history of the Olympic Games to offer a theory of “celebration capitalism,” a form of modern-day economics that complements Naomi Klein’s “disaster capitalism” marked by neoliberalism: privatization, deregulation, and free-market rhetoric.

  9. 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

  10. 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.

  11. 77 FR 52791 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Minimum Regulatory...

    Science.gov (United States)

    2012-08-30

    ... incorporating aspects of the BCBS's Basel II standardized framework in the ``International Convergence of... references to credit ratings. \\5\\ See BCBS, ``International Convergence of Capital Measurement and Capital...'' of common equity tier 1 capital in excess of the new minimum capital requirements. \\11\\...

  12. STATISTICAL MODELS OF REPRESENTING INTELLECTUAL CAPITAL

    Directory of Open Access Journals (Sweden)

    Andreea Feraru

    2016-07-01

    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.

  13. 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... hospital is required under State law to obtain preapproval of the capital project or acquisition by a...

  14. 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,...

  15. Allergy Capitals

    Science.gov (United States)

    ... Health Professionals Partners Media Donate Research 2016 Fall Allergy Capitals If you’re one of the millions ... needs of their residents with allergic diseases. Fall Allergies by the Numbers Nasal allergies affect more than ...

  16. Capitalizing China

    OpenAIRE

    Joseph Fan; Randall Morck; Bernard Yeung

    2011-01-01

    Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist features disguise the profoundly unfamiliar foundations of "market socialism with Chinese characteristics." The Chinese Communist Party (CCP), by controlling the career advancement of all senior personnel in all regulatory agencies, all state-owned enterprises (SOEs), and virtually all major financial institutions state-owned enterprises (SOEs), and senior Party positions in all ...

  17. DOSTOYEVSKI'S "CAPITAL"

    OpenAIRE

    GUNAL, E. Zeynep

    2012-01-01

    Dostoyevski who was always in need of money and in debt, wrote two great novels about capital: "Idiot" and "Crime and Punishment". In these novels the writer tries to prove the negative effects of capital on people. This article particularly focuses on "Crime and Punishment". Because crime is discussed as the multi-dimensional factor in this work. Moreover, it is claimed that in the troika of crime which formed of Raskolnikov, Svidrigaylov and Luzhin, Luzhin is the most dangerous character w...

  18. Wide field of view computed tomography and mid carpal instability: The value of the sagittal radius–lunate–capitate axis – Preliminary experience

    Energy Technology Data Exchange (ETDEWEB)

    Repse, Stephen E., E-mail: stephrep@gmail.com [Department of Diagnostic Imaging, Monash Health, VIC (Australia); Koulouris, George, E-mail: GeorgeK@melbourneradiology.com.au [Melbourne Radiology Clinic, Ground Floor, 3-6/100 Victoria Parade, East Melbourne, VIC (Australia); Centre for Orthopaedic Research, School of Surgery, University of Western Australia, Nedlands, WA (Australia); Troupis, John M., E-mail: john.troupis@gmail.com [Department of Diagnostic Imaging & Monash Cardiovascular Research Centre, Monash Health and Department of Biomedical Radiation Sciences, Faculty of Medicine, Nursing & Health Sciences, Monash University, VIC (Australia)

    2015-05-15

    Highlights: • Unique insight into the assessment of mid carpal instability. • 4D CT using sagittal reconstructions along the radius–lunate–capitate axis. • 4D CT observations of vacuum phenomenon, trigger lunate and capitate subluxation. • Earlier recognition of mid carpal instability. - Abstract: Purpose: Dynamic four dimensional (4D) computed tomography (CT) has recently emerged as a practical method for evaluating complex functional abnormality of joints. We retrospectively analysed 4D CT studies undertaken as part of the clinical management of hand and wrist symptoms. We present our initial experience of 4D CT in the assessment of functional abnormalities of the wrist in a group of patients with mid carpal instability (MCI), specifically carpal instability non-dissociative. We aim to highlight unique features in assessment of the radius–lunate–capitate (RLC) axis which allows insight and understanding of abnormalities in function, not just morphology, which may be contributing to symptoms. Materials and methods: Wide field of view multi-detector CT scanner (320 slices, 0.5 mm detector thickness) was used to acquire bilateral continuous motion assessment in hand flexion and extension. A maximum z-axis coverage of 16 cm was available for each acquisition, and a large field of view (FOV) was used. Due to the volume acquisition during motion, reconstructions at multiple time points were undertaken. Dynamic and anatomically targeted multi-planar-reconstructions (MPRs) were then used to establish the kinematic functionality of the joint. Results: Our initial cohort of 20 patients was reviewed. Three findings were identified which were present either in isolation or in combination. These are vacuum phenomenon, triggering of the lunate and capitate subluxation. We provide 4D CT representations of each and highlight features considered of clinical importance and their significance. We also briefly discuss how the current classifications of dynamic wrist

  19. A Preliminary Discussion on the Development of Higher Vocational Students’ Psychological Capital%浅谈高职生心理资本的开发

    Institute of Scientific and Technical Information of China (English)

    任丽

    2015-01-01

    文章从积极心理学的角度探讨高职生的心理健康问题,心理健康教育不再只针对“问题人群”,更要面向全体。倡导开发学生的心理资本,用积极的心理因素来预防和抵御心理疾病,并提出了相应的心理资本的开发策略。%The paper discusses the psychological health of higher vocational students from the per‐spective of positive psychology .Education of psychological health not only mainly for the“problem peo‐ple” ,but also for the whole .To advocate development of students’ psychological capital ,use positive psychological elements to prevent and defend psychological diseases and bring up the strategies for devel‐opment of students’ psychological capital .

  20. The design of an insulin pump - preliminary requirements (a technical note)

    Science.gov (United States)

    Hawlas, Hubert J.; Lewenstein, Krzysztof

    2009-01-01

    The material presented in this paper is an attempt to lay down requirements for the planned design of an insulin pump. An insulin pump is a device for continuous dosage of insulin at a selected rate, which facilitates treatment and improves the lives of diabetic patients. This paper is a compilation of medical requirements and user suggestions of presently offered insulin pumps. It seems important to establish proper requirements for a device before starting developing any design for an insulin pump.

  1. 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

  2. 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 structur

  3. A preliminary study of the effect of eliminating requirements on clinical performance.

    Science.gov (United States)

    Dodge, W W; Dale, R A; Hendricson, W D

    1993-09-01

    This study determined the effect of a clinical program driven by patient needs upon students' productivity, attitudes, and academic performance. A group of eight senior students, whose academic and clinical performance profile replicated that of the rest of the class, were chosen to participate in a year-long non-requirement clinic. The students were expected to attend all clinic sessions, and treat their assigned patients. Their performance was compared to that of classmates in the regular requirement-driven curriculum. The non-requirement group had significantly higher academic achievement and significantly outproduced their classmates. Non-requirement students had no state board failures, versus 17 percent in the regular curriculum, and reported significantly lower stress. This study suggests that predoctoral clinical programs can maintain quality and productivity in the absence of unit requirements.

  4. 78 FR 76973 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

    Science.gov (United States)

    2013-12-20

    ... #0; Federal Register #0; #0; #0;This section of the FEDERAL REGISTER contains regulatory documents #0..., and 225 Regulations H, Q, and Y RIN 7100-AD 87 Regulatory Capital Rules: Regulatory Capital... Approach for Risk-Weighted Assets, Market Discipline and Disclosure Requirements, Advanced Approaches...

  5. Capital Unchained

    DEFF Research Database (Denmark)

    Bryan, Dick; Rafferty, Michael; Wigan, Duncan

    2017-01-01

    The rise of intangible assets such as brand names, research and development, patents and other forms of abstract capital such as digital platforms and data flows has confounded extant measures and concepts of capital and accumulation. What used to be a residual asset category known as ‘goodwill......’ has now overtaken so-called fixed or tangible assets in the profitability and valuation of many leading corporations. Yet these intangible assets lead a double life as both spatial and temporal in some dimensions, yet fluid and spatio-temporally elusive in others. Using a framework focused...... on measuring (by accountants), managing (by corporations) and monitoring (by International Political Economy scholars and regulators), this article explores the longer term implications of accumulation of internationalised capital in intangible and abstract forms, and the prominent role of finance and offshore...

  6. Projected Cropping Patterns, Livestock Enterprises, Processing Activities, Capital Requirements, Employment, Income, and Training Needs for Alternative Farm Organizational Structures for the Navajo Indian Irrigation Project. A Special Report to the Four Corners Regional Commission.

    Science.gov (United States)

    Gorman, William D.; And Others

    Information on the expected cropping patterns, livestock enterprises, processing and related activities, income and employment opportunities, capital needs, and training requirements for alternative farm organizational structures that could be selected for development of the Navajo Indian Irrigation Project is presented in this report. The major…

  7. 12 CFR 1229.11 - Capital restoration plans.

    Science.gov (United States)

    2010-01-01

    ... or long term causes for the capital deficiency; (2) Specify the level of permanent and total capital... capital to levels sufficient to fulfill its risk-based and minimum capital requirements within a... that the Bank will make to member stock purchase requirements, to assure that it will become...

  8. ITS as a data resource: Preliminary requirements for a user service

    Energy Technology Data Exchange (ETDEWEB)

    Margiotta, R.

    1998-04-01

    Contents of this report are: Executive Summary; Introduction; The Need for an Archived Data User Service; Technical and Institutional Issues for Implementation; Basic Requirements; Appendix A: Summary of Recent Data Needs Identification Efforts; Appendix B: Supplemental Information on the Long-Term Pavement Performance Traffic Data Structure.

  9. Capital Campaigns.

    Science.gov (United States)

    Dalessandro, David; And Others

    1989-01-01

    Eight articles focus on capital campaigns including setting goals (D. Dalessandro), the lead gift (D. A. Campbell), motivating trustees (J. J. Ianolli, Jr.), alumni associations (W. B. Adams), role of public relations officers (R. L. Williams), special events( H.R. Gilbert), the campaign document (R. King), and case statements (D. R. Treadwell,…

  10. Capital Challenge

    Institute of Scientific and Technical Information of China (English)

    2009-01-01

    China is on its way to establishing its own venture capital industry Venture capitalists will find no safe haven worldwide as the prospects for the majority of economies to pick up remain dim for the next two years. Still, if some of them have the money and

  11. Legal-Ease:Total Investment Capital & Registered Capital Allocations in China

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    With the Chinese Government, on a regional basis, specifying “minimum amounts” for registered capital contributions in order to establish foreign-invested enterprises in China, and with a similar occurrence concerning total invested capital requirements,

  12. 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

  13. Preliminary Assessment of Operational Hazards and Safety Requirements for Airborne Trajectory Management (ABTM) Roadmap Applications

    Science.gov (United States)

    Cotton, William B.; Hilb, Robert; Koczo, Stefan, Jr.; Wing, David J.

    2016-01-01

    A set of five developmental steps building from the NASA TASAR (Traffic Aware Strategic Aircrew Requests) concept are described, each providing incrementally more efficiency and capacity benefits to airspace system users and service providers, culminating in a Full Airborne Trajectory Management capability. For each of these steps, the incremental Operational Hazards and Safety Requirements are identified for later use in future formal safety assessments intended to lead to certification and operational approval of the equipment and the associated procedures. Two established safety assessment methodologies that are compliant with the FAA's Safety Management System were used leading to Failure Effects Classifications (FEC) for each of the steps. The most likely FEC for the first three steps, Basic TASAR, Digital TASAR, and 4D TASAR, is "No effect". For step four, Strategic Airborne Trajectory Management, the likely FEC is "Minor". For Full Airborne Trajectory Management (Step 5), the most likely FEC is "Major".

  14. R&D Requirements, RF Gun Mode Studies, FEL-2 Steady-StateStudies, Preliminary FEL-1 Time-Dependent Studies, and Preliminary LayoutOption Investigation

    Energy Technology Data Exchange (ETDEWEB)

    Byrd, John; Corlett, John; Doolittle, Larry; Fawley, William; Lidia, Steven; Penn, Gregory; Ratti, Alex; Staples, John; Wilcox Russell; Wurtele, Jonathan; Zholents, Alexander

    2005-10-01

    This report constitutes the third deliverable of LBNLs contracted role in the FERMI {at} Elettra Technical Optimization study. It describes proposed R&D activities for the baseline design of the Technical Optimization Study, initial studies of the RF gun mode-coupling and potential effects on beam dynamics, steady-state studies of FEL-2 performance to 10 nm, preliminary studies of time-dependent FEL-1 performance using electron bunch distribution from the start-to-end studies, and a preliminary investigation of a configuration with FEL sinclined at a small angle from the line of the linac.

  15. Preliminary assessment of numerical data requirements TA-73 landfill Los Alamos, New Mexico

    Energy Technology Data Exchange (ETDEWEB)

    1993-11-19

    A numerical model, TOUGH2, was selected for describing liquid- and gas-phase flow in the unsaturated tuff underlying the TA-73 landfill. The model was selected primarily for its ability to simulate the significant mechanisms that may affect transport of contaminants through the vadose zone at the TA-73 landfill, including non-isothermal flow through fractured media. TOUGH2 is the best documented, verified, and validated model capable of performing the required simulations. The sensitivity analyses that were performed and describes in this report identified the input parameters that the selected numerical model is most sensitive to. The input parameters analyzed were saturated hydraulic conductivity, van Genuchten {alpha} and n, residual and saturated moisture contents, infiltration rate, fracture spacing and permeability, atmospheric pressure, and temperature. The sensitivity analyses were performed using a model grid that was designed to incorporate the regions in the landfill vicinity where contaminant transport is likely to occur and where the physical processes affecting flow and transport are the most dynamic. The sensitivity analyses performed suggest that the model is quite sensitive to a number of input parameters, including saturated hydraulic conductivity, the van Genuchten parameters {alpha} and n (for both the tuff matrix and fractures), fracture density and aperture, and atmospheric pressure. The results indicate that additional site-specific hydraulic properties and fracture data should be obtained before attempting to perform predictive, numerical simulations of gas- and liquid-phase flow beneath the landfill.

  16. 中国国有经济固定资本存量初步测算%The Preliminary Measurement of Fixed Capital Stocks of State-owned Economy of China

    Institute of Scientific and Technical Information of China (English)

    王益煊; 吴优

    2003-01-01

    The accounting of fixed capital stocks is very important in balance sheet accounting. And it is also an unsolved lasting problem of governmental statistics of China. On the basis of relevant researching projects, the paper conducts estimation of state-owned fixed capital stocks, and thereby constructs the foundation of the accounting of fixed capital stocks of the whole society.

  17. Building a transnational biosurveillance network using semantic web technologies: requirements, design, and preliminary evaluation.

    Science.gov (United States)

    Teodoro, Douglas; Pasche, Emilie; Gobeill, Julien; Emonet, Stéphane; Ruch, Patrick; Lovis, Christian

    2012-05-29

    Antimicrobial resistance has reached globally alarming levels and is becoming a major public health threat. Lack of efficacious antimicrobial resistance surveillance systems was identified as one of the causes of increasing resistance, due to the lag time between new resistances and alerts to care providers. Several initiatives to track drug resistance evolution have been developed. However, no effective real-time and source-independent antimicrobial resistance monitoring system is available publicly. To design and implement an architecture that can provide real-time and source-independent antimicrobial resistance monitoring to support transnational resistance surveillance. In particular, we investigated the use of a Semantic Web-based model to foster integration and interoperability of interinstitutional and cross-border microbiology laboratory databases. Following the agile software development methodology, we derived the main requirements needed for effective antimicrobial resistance monitoring, from which we proposed a decentralized monitoring architecture based on the Semantic Web stack. The architecture uses an ontology-driven approach to promote the integration of a network of sentinel hospitals or laboratories. Local databases are wrapped into semantic data repositories that automatically expose local computing-formalized laboratory information in the Web. A central source mediator, based on local reasoning, coordinates the access to the semantic end points. On the user side, a user-friendly Web interface provides access and graphical visualization to the integrated views. We designed and implemented the online Antimicrobial Resistance Trend Monitoring System (ARTEMIS) in a pilot network of seven European health care institutions sharing 70+ million triples of information about drug resistance and consumption. Evaluation of the computing performance of the mediator demonstrated that, on average, query response time was a few seconds (mean 4.3, SD 0.1 × 10

  18. 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...

  19. Flexible Capitalism

    DEFF Research Database (Denmark)

    Approaching “work” as at heart a practice of exchange, this volume explores sociality in work environments marked by the kind of structural changes that have come to define contemporary “flexible” capitalism. It introduces anthropological exchange theory to a wider readership, and shows how...... the perspective offers new ways to enquire about the flexible capitalism’s social dimensions. The essays contribute to a trans-disciplinary scholarship on contemporary economic practice and change by documenting how, across diverse settings, “gift-like” socialities proliferate, and even sustain the intensified...

  20. 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.

  1. 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.

  2. ORGANIZATIONAL CAPITAL IN ENTERPRISE ARCHITECTURE

    OpenAIRE

    Kirill G. Skripkin

    2016-01-01

    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 uni...

  3. Flexible Capitalism

    DEFF Research Database (Denmark)

    Approaching “work” as at heart a practice of exchange, this volume explores sociality in work environments marked by the kind of structural changes that have come to define contemporary “flexible” capitalism. It introduces anthropological exchange theory to a wider readership, and shows how...... the perspective offers new ways to enquire about the flexible capitalism’s social dimensions. The essays contribute to a trans-disciplinary scholarship on contemporary economic practice and change by documenting how, across diverse settings, “gift-like” socialities proliferate, and even sustain the intensified...... flexible commoditization that more commonly is touted as tearing social relations apart. By interrogating a keenly debated contemporary work regime through an approach to sociality rooted in a rich and distinct anthropological legacy, the volume also makes a novel contribution to the anthropological...

  4. Breckinridge Project, initial effort. Report VIII. Capital cost estimate

    Energy Technology Data Exchange (ETDEWEB)

    None

    1982-01-01

    The major objective of the Initial Effort for the Breckinridge Project is to develop engineering to the point where realistic economics for the construction and operation of the plant can be made. The plant is designed to process 23,000 tons per day of run-of-mine coal to produce a nominal 50,000 barrels per day of liquid products using the H-COAL and standard industry technology. The plant will be located in Breckinridge County, Kentucky. Considerable preliminary engineering has been performed for this estimate. This work uses a single-point design based on the Process Demonstration Unit (PDU) data from run 5, period 29 of the pilot plant. The design basis is discussed in Volume II of this report. Many aspects of plant construction and cost have been considered that were not taken into account in the past studies. Ashland and Bechtel believe the accuracy of the capital estimate to be +19%, -17%. This accuracy is postulated on January 1981 dollars, the as-spent dollar amount naturally depending upon the inflation rate through the construction period. Considerable attention has been devoted to reliability of operation, and redundant equipment has been used where it was deemed necessary to assure reasonable onstream time. This equipment is included in the capital estimate. The capital is summarized by total plant cost on Table 1. The subtotal plant cost, excluding contingency, fee, and adjustment is $2,710,940,000. Adding the contingency, fee and adjustment, the total depreciable cost of the plant is $3,167,430,000. Adding the working capital to the total plant cost results in total capital requirements of $3,258,430,000 as shown on the individual plant cost summary Table 2.

  5. Capital and operating cost estimates. Volume I. Preliminary design and assessment of a 12,500 BPD coal-to-methanol-to-gasoline plant. [Grace C-M-G Plant, Henderson County, Kentucky

    Energy Technology Data Exchange (ETDEWEB)

    1982-08-01

    This Deliverable No. 18b - Capital and Operating Cost Estimates includes a detailed presentation of the 12,500 BPD coal-to-methanol-to-gasoline plant from the standpoint of capital, preoperations, start-up and operations cost estimation. The base capital cost estimate in June 1982 dollars was prepared by the Ralph M. Parsons Company under the direction of Grace. The escalated capital cost estimate as well as separate estimates for preoperations, startup and operations activities were developed by Grace. The deliverable consists of four volumes. Volume I contains details of methodology used in developing the capital cost estimate, summary information on a base June 1982 capital cost, details of the escalated capital cost estimate and separate sections devoted to preoperations, start-up, and operations cost. The base estimate is supported by detailed information in Volumes II, III and IV. The degree of detail for some units was constrained due to proprietary data. Attempts have been made to exhibit the estimating methodology by including data on individual equipment pricing. Proprietary details are available for inspection upon execution of nondisclosure and/or secrecy agreements with the licensors to whom the data is proprietary. Details of factoring certain pieces of equipment and/or entire modules or units from the 50,000 BPD capital estimate are also included. In the case of the escalated capital estimate, Grace has chosen to include a sensitivity analysis which allows for ready assessment of impacts of escalation rates (inflation), contingency allowances and the construction interest financing rates on the escalated capital cost. Each of the estimates associated with bringing the plant to commercial production rates has as a basis the schedule and engineering documentation found in Deliverable No. 14b - Process Engineering and Mechanical Design Report, No. 28b - Staffing Plans, No. 31b - Construction Plan, and No. 33b - Startup and Operation Plan.

  6. 76 FR 74631 - Capital Plans

    Science.gov (United States)

    2011-12-01

    ... appropriate to its business model and portfolios; \\20\\ \\20\\ Whereas the proposed rule required a large bank... consideration of additional variables. Evaluating the profit and loss sensitivity of a firm's trading portfolio... feedback provided in the CCAR and Supervisory Capital Assessment Program. The Federal Reserve is...

  7. Capital regulations, supervision and the international harmonization of bank capital ratios

    Directory of Open Access Journals (Sweden)

    Kevin T. Jacques

    2017-06-01

    Full Text Available In recent decades, despite the Basel Committee’s effort to develop internationally uniform regulatory capital standards, the capital ratios of banks across countries continue to exhibit significant differences. This paper examines the fundamental question of whether, given a uniform regulatory capital standard, regulators should expect similar banks to exhibit similar risk-based capital ratios. More specifically, this study develops a one-period theoretical model to examine the level playing field argument in light of not only uniform regulatory capital standards but also differences in bank supervision. The results of the theoretical model suggest that even with an internationally uniform risk-based capital requirement, it is unreasonable to expect banks in different countries to hold similar capital ratios. This occurs, in part, because regulators have discretion in how they apply the risk-based capital standards. Furthermore, the results suggest that a necessary condition for banks to exhibit similar capital ratios is that uniform capital requirements must be accompanied by a uniform stringency and application of regulatory supervision.

  8. 75 FR 4635 - Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance: Regulatory...

    Science.gov (United States)

    2010-01-28

    ... the implementation of FAS 166 and FAS 167 without any change to regulatory capital requirements... 567 Federal Reserve System 12 CFR Parts 208 and 225 Federal Deposit Insurance Corporation 12 CFR Part... of the Comptroller of the Currency 12 CFR Part 3 RIN 1557-AD26 FEDERAL RESERVE SYSTEM 12 CFR Parts...

  9. 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...

  10. 12 CFR 5.47 - Subordinated debt as capital.

    Science.gov (United States)

    2010-01-01

    ... 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... Tier 2 or Tier 3 capital. However, a bank issuing subordinated debt shall notify the OCC after...

  11. Venture capitalism at the Veterans Administration.

    Science.gov (United States)

    Andries, G H

    1986-01-01

    This article outlines the implementation of a venture capitalism program in a 519-bed Veterans Administration tertiary care medical center. Venture capitalism at the VA West Side Medical Center in Chicago, Illinois is realized through a pool of capital within the budget, for the trial implementation of various ideas and programs that demonstrate a potential to reduce costs or increase revenues. Through this adaptation of venture capitalism, the principles of entrepreneurship can be applied. Employees submit a proposal to management that describes what they wish to accomplish. The proposal includes the time schedule required for implementation and how much capital will be needed to make the proposal operational. If the proposal is successful and becomes self-sufficient, the original venture capital is returned to the pool and used for other ventures. If the proposal does not meet expectations, support is withdrawn and the remaining capital is returned to the venture capital pool. In conclusion, several successful ventures are described to demonstrate the practicality of using the concepts of entrepreneurship and venture capitalism within the budget constraints of the federal government.

  12. Triads of capital

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase

    Within current research on social capital, a gap exists between political history analyses at the macro level and classical, sociological analyses at the meso and micro levels. Following up on  earlier work, the main purpose of this paper is to mediate between the two conflicting stances...... represented by Putnam and Portes. The paper raises the following question: Is it possible to detect the historical driving forces behind the building of both beneficial and harmful social capital? Driving forces are defined as structural determinants, which change human organization at all levels....... The hypothesis is that three forms of capital have the potential to act as driving forces: social capital, cultural capital and physical capital, the latter operationaliz­ed as buildings. A new concept, triad of capital, is introduced to analyze the interrelationship between these three forms of capital. A triad...

  13. 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.

  14. O outro capital The other capital

    Directory of Open Access Journals (Sweden)

    Vinicius Prates da Fonseca Bueno

    2012-01-01

    Full Text Available Capital social uma forma de mobilizao cujo cerne no est nos indivduos nem nas formas de produo econmica, mas nas redes complexas de solidariedade e confiana. O livro Comunicao e poltica: capital social, reconhecimento e deliberao pblica traz uma coleo de artigos de pesquisadores em comunicao sobre este tema, organizado por ngela Marques e Heloiza Matos.Social capital is a form of mobilization whose core is not on individuals or in forms of economic production, but in the complex networks of solidarity and trust. The book Comunicao e poltica: capital social, reconhecimento e deliberao pblica (that translated to English means Communication and politics: social capital, recognition and public deliberation is a collection of articles written by researchers in communication about this subject, organized by ngela Marques and Heloiza Matos.

  15. Preliminary Data on the Ecological Requirements of the Invasive Spiny-Cheek Crayfish in the Lower Danube

    Directory of Open Access Journals (Sweden)

    Pîrvu Mălina

    2014-12-01

    Full Text Available Water quality and properties of the riverbed often shape the community structure of aquatic ecosystems, occasionally sustaining the expansion of non-native species. This study aims to provide preliminary data on the ecological preferences of the invasive species Orconectes limosus, its control, and the protection of the native stock is an European priority. In order to assess the species ability to colonize small river systems, relevant tributaries in the invaded Danube sector were monitored. Statistical test indicates a preference for deep and warm rivers, low water velocity and also high concentrations of calcium.

  16. Superfluid helium orbital resupply - The status of the SHOOT flight experiment and preliminary user requirements. [Superfluid Helium On-Orbit Transfer

    Science.gov (United States)

    Dipirro, Michael J.; Kittel, Peter

    1989-01-01

    The Superfluid Helium On-Orbit Transfer (SHOOT) flight experiment is designed to demonstrate the components and techniques necessary to resupply superfluid helium to satellites or Space Station based facilities. A top level description as well as the development status of the critical components to be used in SHOOT are discussed. Some of these components include the thermomechanical pump, the fluid acquisition system, the normal helium and superfluid helium phase separators, Venturi flow meter, cryogenic valves, burst disks, and astronaut-compatible EVA coupler and transfer line. The requirements for the control electronics and software are given. A preliminary description of the requirements that must be met by a satellite requiring superfluid helium servicing is given. In particular, minimum and optimum plumbing arrangements are shown, transfer line flow impedance and heat input impacts are assessed, instrumentation is described, and performance parameters are considered.

  17. 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

  18. 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 ...

  19. CONTROLS ON CAPITAL MOVEMENTS

    Directory of Open Access Journals (Sweden)

    Petris Sorina

    2012-12-01

    Full Text Available Until recently, capital mobility was encouraged across national borders, because it was considered that such capital can seek the highest rate of return. However, recent global financial developments have shown that, due to contagion, the mobility of capital flows can cause severe financial imbalances. In the context of globalization, liberalization or maintaining controls on capital flows is a current topic, more debated by economists. This topic is very important, due to the impact of liberalization decision or maintaining controls on capital flows has on the overall macroeconomic framework. The paper analyzes the relationship between capital flows’ control and the income per capita, the degree of central bank independence, democracy country, the foreign exchange regime. Also, it analyzes the effectiveness in time of capital controls, taking account of financial system development and potential risks of instability. Over time, it was observed that a period in which they have imposed restrictions on capital movements was followed by a removal of such restrictions, and vice versa. Cyclic change of capital movements regime corresponds to the cyclic evolution of the global economy. Full capital account liberalization led to the emergence of currency and financial crises, so that the idea of maintaining controls on capital is not rejected by economists. After a full liberalization of capital flows, there is a change in the mentality of an increasing number of economists, who support the maintenance of controls, in a gradual liberalization.

  20. Theorizing Emotional Capital

    NARCIS (Netherlands)

    Cottingham, M.D.

    2016-01-01

    Theorizing a sociology of emotion that links micro-level resources to macro-level forces, this article extends previous work on emotional capital in relation to emotional experiences and management. Emerging from Bourdieu’s theory of social practice, emotional capital is a form of cultural capital t

  1. Theorizing Emotional Capital

    NARCIS (Netherlands)

    Cottingham, M.D.

    2016-01-01

    Theorizing a sociology of emotion that links micro-level resources to macro-level forces, this article extends previous work on emotional capital in relation to emotional experiences and management. Emerging from Bourdieu’s theory of social practice, emotional capital is a form of cultural capital

  2. Is Capitalism Ethical?

    Directory of Open Access Journals (Sweden)

    Suciu T.

    2009-12-01

    Full Text Available The author of this paper have set off from the question: is the present capitalism ethical? We started with the delimitation and correlation of the concepts of ethics, morals, morality. Further on, we analysed the evolution of capitalism in connection with morals. Based on this research, we came to the conclusion that the capitalist system has undergone through three stages: moral capitalism, amoral capitalism, and immoral capitalism. We concluded by implying that the corporate capitalist society is immoral, that it cannot regulate itself and that the government’s assistance is needed to inoculate the ethics.

  3. 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.

  4. 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 ...

  5. 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 ...

  6. Knowledge-intensive entrepreneurship and financial capital

    DEFF Research Database (Denmark)

    Bøllingtoft, Anne; Neergaard, Helle; Ulhøi, John Parm

    2001-01-01

    the survival and preliminary growth of new ventures in high-tech and knowledge-intensive sectors. The paper builds in part upon existing literature on venture capital, theory on risk and trust and network theory. The results document that high variation on several dimensions can be found across the two sectors...... investigated (IT and life sciences). In closing, the paper briefly touches upon implications for policy makers, investors and business managers and for research....

  7. 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...... 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...... 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....

  8. 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....

  9. 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...

  10. Institutions and Venture Capital

    OpenAIRE

    Lerner, Josh; Tåg, Joacim

    2012-01-01

    We survey the literature on venture capital and institutions and present a case study comparing the development of the venture capital market in the US to Sweden. Our literature survey underscores that the legal environment, financial market development, the tax system, labor market regulations, and public spending on research and development correlates with venture capital activities across countries. Our case study suggests these institutional differences led to the later development of an ...

  11. 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....

  12. 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...

  13. 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....

  14. Electronic Capitalization Asset Form

    Data.gov (United States)

    Department of Transportation — National Automated Capitalization Authorization Form used by ATO Engineering Services, Logistics, Accounting for the purpose of identifying and capturing FAA project...

  15. The Optimal Capital Structure of an Economy

    OpenAIRE

    Gersbach, Hans

    2003-01-01

    We examine the optimal allocation of equity and debt across banks and industrial firms when both are faced with incentive problems and firms borrow from banks. Increasing bank equity mitigates the bank-level moral hazard but may exacerbate the firm-level moral hazard due to the dilution of firm equity. Competition among banks does not result in a socially efficient level of equity. Imposing capital requirements on banks leads to the socially optimal capital structure of the economy in the sen...

  16. Preliminary designs for ocean thermal energy conversion (OTEC) stationkeeping subsystems (SKSS). Task I. Design requirements. Final report

    Energy Technology Data Exchange (ETDEWEB)

    1979-06-01

    The results of Task I, Design Requirements, are presented. Environmental conditions for the Punta Tuna, Puerto Rico site are reviewed and synthesized to provide definition of current, wind and wave severity, direction, and occurrence for service, operational, and extreme sea states. SKSS performance requirements, including design life and watch circle, are followed by interface considerations particularly for the electrical transmission riser cable, and design criteria including safety and load factors. The SKSS concepts will be analyzed to evaluate performance, reliability, and cost. Performance analysis conducted included catenary anchor leg static calculations to size components, as well as drag due to environmental loads in the operational and extreme sea states for both ship and spar platforms. Dynamic analyses and trade studies to be conducted in Task II are presented. A reliability and risk assessment analysis of the three basic SKSS types - single-, multiple-, and tension-anchor-leg moors - was completed, indicating that the multiple-anchor-leg/multiple-point rotary or turret moor has the lowest risk-criticality for the ship, while that for the spar is the multiple-anchor-leg/multiple-point moor. The catenary single-anchor-leg/single-point moor has insufficient reliability for both platforms. The life cycle cost analysis methodology, including work breakdown structure, cost estimating, and cost minimization define the approach to costing to be followed throughout the study. The results of these design trades and analyses will first be applied to concept ranking required for recommendation of a SKSS concept for each platform.

  17. Social Capital in Asia

    DEFF Research Database (Denmark)

    Li, Peter Ping

    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...

  18. Linguistic Capital Pays Dividends

    Science.gov (United States)

    Linse, Caroline

    2013-01-01

    Some 37 million U.S. residents speak Spanish at home and more than 55% of them say they also speak English. That creates what is called linguistic capital. Although linguistic capital is difficult to quantify, it is enormously valuable and is determined by an individual's language competency, and is too frequently wasted instead of being…

  19. Human Capital and Retirement

    NARCIS (Netherlands)

    P. Alders

    1999-01-01

    textabstractThis paper investigates the relation between human capital and retirement when the age of retirement is endogenous. This relation is examined in a life-cycle earnings model. An employee works full time until retirement. The worker accumulates human capital by training- on-the-job and by

  20. 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...

  1. 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...

  2. Venture capital and internationalization

    NARCIS (Netherlands)

    Schertler, Andrea; Tykvova, Tereza

    2011-01-01

    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 ca

  3. Aggregating economic capital

    NARCIS (Netherlands)

    Dhaene, J.; Goovaerts, M.; Lundin, M.; Vanduffel, S.

    2005-01-01

    In this paper we analyze and evaluate a standard approach financial institutions use to calculate their so-called total economic capital. If we consider a business that faces a total random loss S over a given one-year horizon then economic capital is traditionally defined as the difference between

  4. Linguistic Capital Pays Dividends

    Science.gov (United States)

    Linse, Caroline

    2013-01-01

    Some 37 million U.S. residents speak Spanish at home and more than 55% of them say they also speak English. That creates what is called linguistic capital. Although linguistic capital is difficult to quantify, it is enormously valuable and is determined by an individual's language competency, and is too frequently wasted instead of being…

  5. ACTUAL REQUIREMENTS REGARDING THE INTELLECTUAL CAPITAL AT AN EUROPEAN AND INTERNATIONAL LEVEL. THE ASSESSMENT OF QUALITY MANAGEMENT SYSTEMS IN ORGANISATIONS PROVIDING INSTRUCTION SERVICES

    Directory of Open Access Journals (Sweden)

    Danut Neacsu

    2012-12-01

    Full Text Available The European Union Council had and still has in view the profound changes taking place in society: globalization represents for Europe a competitors intensification in all the economical sectors, while the developing and the diversification of the information technologies can lead to a radical change of the whole learning and educational system, opening the perspectives for learning possibilities and accumulating knowledge during all one’s life. The topic actuality of this article consist from the fact that, due to the globalization and the international competition intensification the request for workers with a low qualification level decreases; the new jobs presuppose high performances, flexibility, stress on qualities such as: high level of performance, creativity, openness to change, initiative. People will be obliged to possess much more knowledge, competences and they will have to work in multi spheres teams. Of course that not all the people can become conceptual analysts, something like this cannot be required, but an adaptation to the new system, to the new economy is required. At present, more and more people work in domains in which information is created. In the future this percent will grow. The utilizing on a large scale of machines and installations will determine that even workers from the basic domains to be better and better prepared. In the countries OECD the unemployment rate is higher for the persons with a second education, unlike the persons with a higher education, the manpower being in this way forced to become more qualified. On the other hand, as more and more work is taking place at an intellectual level, the detaining and manipulating of information becomes an essential quality for each employee. This article has as a main objective the highlighting of actual requirements regarding the quality assurance in instruction services at an European and international level. Thus, the permanent learning strategies from the

  6. 76 FR 42768 - Capital Distribution

    Science.gov (United States)

    2011-07-19

    ... Office of Thrift Supervision Capital Distribution AGENCY: Office of Thrift Supervision (OTS), Treasury... concerning the following information collection. Title of Proposal: Capital Distribution. OMB Number: 1550..., the information provides the OTS with a mechanism for monitoring capital distributions since...

  7. 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.

  8. 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.

  9. 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...... of distinction? Cultural capital in a contemporary Danish context appears to be less related to traditional highbrow cultural consumption than in Bourdieu's studies in France some decades ago. Third, is there a rise in the omnivorousness and tolerant taste within the cultural elite? This study answers negatively...

  10. Social Capital in Asia

    DEFF Research Database (Denmark)

    Li, Peter Ping

    2014-01-01

    , 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......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......–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...

  11. 12 CFR 325.104 - Capital restoration plans.

    Science.gov (United States)

    2010-01-01

    ... under section 38(e)(2) of the FDI Act. A bank that is required to submit a capital restoration plan as a... FDI Act by each company that controls the bank. (c) Review of capital restoration plans. Within 60... restoration plan that does not contain the guarantee required under section 38(e)(2) of the FDI Act, the...

  12. 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...

  13. 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.

  14. Economic capital for credit risk in the trading book

    Directory of Open Access Journals (Sweden)

    Wynand Smit

    2011-06-01

    Full Text Available The Basel II accord sets out detailed formulations (in its Internal Ratings Based approaches for determining credit risk capital in the banking book, but until recently, credit risk in the trading book was largely ignored. The financial crisis in 2007/08 exposed this oversight: woefully inadequate trading book capital led to considerable losses which resulted in, inter alia, the imposition of severe capital requirements on credit riskprone securities in the trading book.  Using empirical loss data, this article investigates whether these requirements are appropriate for the trading book and proposes a possible alternative which banks may use to determine economic capital.

  15. Utility requirements for fusion

    Energy Technology Data Exchange (ETDEWEB)

    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.

  16. Is macroporosity absolutely required for preliminary in vitro bone biomaterial study? A comparison between porous materials and flat materials.

    Science.gov (United States)

    Lee, Juliana T Y; Chow, King L; Wang, Kefeng; Tsang, Wai-Hung

    2011-11-08

    Porous materials are highly preferred for bone tissue engineering due to space for blood vessel ingrowth, but this may introduce extra experimental variations because of the difficulty in precise control of porosity. In order to decide whether it is absolutely necessary to use porous materials in in vitro comparative osteogenesis study of materials with different chemistries, we carried out osteoinductivity study using C3H/10T1/2 cells, pluripotent mesenchymal stem cells (MSCs), on seven material types: hydroxyapatite (HA), α-tricalcium phosphate (α-TCP) and b-tricalcium phosphate (β-TCP) in both porous and dense forms and tissue culture plastic. For all materials under test, dense materials give higher alkaline phosphatase gene (Alp) expression compared with porous materials. In addition, the cell density effects on the 10T1/2 cells were assessed through alkaline phosphatase protein (ALP) enzymatic assay. The ALP expression was higher for higher initial cell plating density and this explains the greater osteoinductivity of dense materials compared with porous materials for in vitro study as porous materials would have higher surface area. On the other hand, the same trend of Alp mRNA level (HA > β-TCP > α-TCP) was observed for both porous and dense materials, validating the use of dense flat materials for comparative study of materials with different chemistries for more reliable comparison when well-defined porous materials are not available. The avoidance of porosity variation would probably facilitate more reproducible results. This study does not suggest porosity is not required for experiments related to bone regeneration application, but emphasizes that there is often a tradeoff between higher clinical relevance, and less variation in a less complex set up, which facilitates a statistically significant conclusion. Technically, we also show that the base of normalization for ALP activity may influence the conclusion and there may be ALP activity from

  17. 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....

  18. 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...... and the 1% of the World population will control 95% of all wealth in the World....

  19. 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...... of distinction? Cultural capital in a contemporary Danish context appears to be less related to traditional highbrow cultural consumption than in Bourdieu's studies in France some decades ago. Third, is there a rise in the omnivorousness and tolerant taste within the cultural elite? This study answers negatively......, 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...

  20. 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....

  1. 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....

  2. 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...

  3. Capital Projects Application (CPA)

    Data.gov (United States)

    General Services Administration — Capital Projects application (CPA) provides users with the ability to maintain project related financial data for Budget Activity (BA) 51, 55, 64, 01, 02, 03, 04....

  4. Algorithmic governmentality: radicalisation and immune strategy of capitalism and neoliberalism?

    Directory of Open Access Journals (Sweden)

    Antoinette Rouvroy

    2016-11-01

    Full Text Available This article is a set of reflections on the question: ‘what is completely new in algorithmic governmentality compared to capitalism and neoliberalism?’ The following text is thus some preliminary, temporary and definitively uncertain intuitions in response to this question.

  5. Updating cultural capital theory

    DEFF Research Database (Denmark)

    Prieur, Annick; Savage, Mike

    2011-01-01

    This paper considers how the analysis of cultural engagement can be elaborated through a reworking of the concept of cultural capital, as originally derived from Bourdieu’s (1984) Distinction. Drawing on detailed studies of the UK and Aalborg, Denmark, we show that despite the weakening of ‘‘high......This paper considers how the analysis of cultural engagement can be elaborated through a reworking of the concept of cultural capital, as originally derived from Bourdieu’s (1984) Distinction. Drawing on detailed studies of the UK and Aalborg, Denmark, we show that despite the weakening......, and art); and (c) an international and a local or national orientation stand out as the most important. We discuss whether these oppositions can usefully be conceptualised as cultural capital. We argue that such a conceptualisation demands, first, that cultural capital is understood in relative rather...... than absolute terms, and that a field analytic perspective provides the means of understanding cultural capital as such a relative entity. Second, the move from the empirical observation of oppositions to the conceptualisation of cultural capital also demands that the functioning of features...

  6. Entrepreneurs’ human and social capital

    DEFF Research Database (Denmark)

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

    2014-01-01

    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......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...

  7. 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.

  8. 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...

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

    African Journals Online (AJOL)

    Siphambe H (Prof)

    The 2008-2012 global financial crisis brought to the fore the inadequacy of the then existing prudential regulatory ... stronger regulatory mechanisms to support the already existing guidelines (Gunadi et al, 2011). In order to ... the requirement for a certain level of bank capital. ... capital in line with their perceived risk assets.

  10. 12 CFR 206.5 - Capital levels of correspondents.

    Science.gov (United States)

    2010-01-01

    ... capitalized under this section without regard to the minimum leverage ratio required under paragraph (a)(3) of... 206.5 Banks and Banking FEDERAL RESERVE SYSTEM BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM... standards. See, e.g. 12 CFR part 208, subpart D. (1) A total risk-based capital ratio, as defined...

  11. Dispute over Capital Contribution in A Joint Venture

    Institute of Scientific and Technical Information of China (English)

    2009-01-01

    @@ Basic facts In November 1994,the Claimant and the Respondent signed an agreement to establish a limited liability entertainment company (the joint venture).The contract required both parties to contribute capital,including a one-time payment of registered capital made within five months of acquiring the necessary license to conduct business.

  12. 7 CFR 3560.563 - Initial operating capital.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Initial operating capital. 3560.563 Section 3560.563 Agriculture Regulations of the Department of Agriculture (Continued) RURAL HOUSING SERVICE, DEPARTMENT OF... capital. The requirements for § 3560.64 apply to all applications for off-farm labor housing loans...

  13. Capital Adequacy, Bank Behavior and Crisis: Evidence from Emergent Economies

    Directory of Open Access Journals (Sweden)

    Khaled Alkadamani

    2015-06-01

    Full Text Available Using the simultaneous equations model, this paper examines the impact of capital requirements on bank risk-taking during the recent financial crisis. It also explores the relationship between capital and risk decisions and the impact of economic instability on this relationship. By analyzing the data of 46 commercial banks between 2004 and 2014 from four Middle East countries, the study concludes a positive effect of regulatory pressure on bank capital and bank risk taking. The findings reveal also that banks close to the minimum regulatory capital requirements improve their capital adequacy by increasing their capital and decreasing their risk taking. Furthermore, the results show that economic crisis positively affects bank risk changes, suggesting that banks react to the impact of uncertainty by increasing their risk taking. Finally, the estimations show a positive correlation between banks profitability and increase in capital, indicating that profitable banks can more easily improve their capitalization through retained earnings rather than issuing new securities. Keywords: bank regulation, risk taking, bank capital, crisis.

  14. 77 FR 76628 - Enhanced Prudential Standards and Early Remediation Requirements for Foreign Banking...

    Science.gov (United States)

    2012-12-28

    ... capital and leverage requirements, liquidity standards, risk management and risk committee requirements... promote maximum efficiency of capital and liquidity management at the consolidated level. Permissible U.S... nonbank activities. The structural diversity and consolidated management of capital and liquidity...

  15. Human Capital and Optimal Positive Taxation of Capital Income

    OpenAIRE

    Jacobs, B.; Bovenberg, A.L.

    2005-01-01

    This paper analyzes optimal linear taxes on capital and labor incomes in a life-cyclemodel 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 onlylabor income but also capital income is optimal. The positive tax on capital incomeserves to alleviate the distortions of the labor tax on human capital accumulation.The optimal marginal tax rate on capital income is lower than that on labor inco...

  16. ANCAMAN CAPITAL INFLOW

    Directory of Open Access Journals (Sweden)

    Teguh Sihono

    2011-01-01

    Full Text Available Capital inflow can be interpreted as an increase in the amount of money available from external or foreign sources for the purchase of local capital assets such as securities, houses, buildings, land, machinery. These short-term asset purchase, so if at any time be withdrawn in large quantities, it will endanger the country's economy. The swift flow of foreign funds may be a threat to the country which became the capital inflow in the form of options: pressure of inflation, high cost economy, the defisit Central Bank balance, the economic turbulence, and the threat of economic growth. Improvement of high economic growth accompanied by rising foreign exchange reserves that high also, it turns out is not free from the risk of unbridled inflation and economic cricis, destabilizing the economy during those funds withdrawn by foreign investors. For the avoidance of economic risk, should the government together with the Central Bank made a rule to direct capital inflow into the real sektor. Keywords: capital inflows, global likuiditas

  17. Organizational networks and social capital

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase; Waldstrøm, Christian

    2013-01-01

    This chapter presents a framework for understanding organizational networks and social capital through the lens of “social capital ownership” as well as the private and collective goods provided through this ownership. More specifically, it argues that ownership of social capital in organizations...... is closely connected to four types of social capital – two belonging to the bridging social capital type, and two belonging to the bonding social capital type. The chapter first reviews literature on organizational social capital and then directly focuses on ownership of social capital in organizations......, as well as the derived benefits, or losses. Next, the chapter presents an empirical case apt to illustrate the theoretical findings in part one, namely the nineteenth-century Danish Cooperative Dairy Movement (Svendsen and Svendsen 2004). It is demonstrated how social capital among Danish peasants...

  18. Organizational networks and social capital

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase; Waldstrøm, Christian

    2013-01-01

    This chapter presents a framework for understanding organizational networks and social capital through the lens of “social capital ownership” as well as the private and collective goods provided through this ownership. More specifically, it argues that ownership of social capital in organizations...... is closely connected to four types of social capital – two belonging to the bridging social capital type, and two belonging to the bonding social capital type. The chapter first reviews literature on organizational social capital and then directly focuses on ownership of social capital in organizations......, as well as the derived benefits, or losses. Next, the chapter presents an empirical case apt to illustrate the theoretical findings in part one, namely the nineteenth-century Danish Cooperative Dairy Movement (Svendsen and Svendsen 2004). It is demonstrated how social capital among Danish peasants...

  19. 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.

  20. Thinking strategically about capitation.

    Science.gov (United States)

    Boland, P

    1997-05-01

    All managed care stakeholders--health plan members, employers, providers, community organizations, and government entitites--share a common interest in reducing healthcare costs while improving the quality of care health plan members receive. Although capitation is a usually thought of primarily as a payment mechanism, it can be a powerful tool providers and health plans can use to accomplish these strategic objectives and others, such as restoring and maintaining the health of plan members or improving a community's health status. For capitation to work effectively as a strategic tool, its use must be tied to a corporate agenda of partnering with stakeholders to achieve broader strategic goals. Health plans and providers must develop a partnership strategy in which each stakeholder has well-defined roles and responsibilities. The capitation structure must reinforce interdependence, shift focus from meeting organizational needs to meeting customer needs, and develop risk-driven care strategies.

  1. Contabilidad del capital intelectual

    OpenAIRE

    2007-01-01

    El capital intelectual es un valor intangible que debe incorporarse a los estados financieros, como parte de la generación de valor de todos los trabajadores de una organización. Existen algunos modelos que permiten cuantificarlo, aunque es preciso reconocer que debemos ahondar con más precisión con el objeto de contar con un mayor número de adeptos a esta importante referencia. The intellectual capital is an intangible value that should incorporate to the financial states, like part of t...

  2. Five models of capitalism

    Directory of Open Access Journals (Sweden)

    Luiz Carlos Bresser-Pereira

    2012-03-01

    Full Text Available Besides analyzing capitalist societies historically and thinking of them in terms of phases or stages, we may compare different models or varieties of capitalism. In this paper I survey the literature on this subject, and distinguish the classification that has a production or business approach from those that use a mainly political criterion. I identify five forms of capitalism: among the rich countries, the liberal democratic or Anglo-Saxon model, the social or European model, and the endogenous social integration or Japanese model; among developing countries, I distinguish the Asian developmental model from the liberal-dependent model that characterizes most other developing countries, including Brazil.

  3. 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

  4. Thinking strategically about imaging capacity and capital.

    Science.gov (United States)

    Griffin, David; Dubiel, Paul

    2006-01-01

    Diagnostic imaging continues to place high demands on hospital and health system capital budgets due to the high cost of most equipment and the rate of technological change. Diagnostic imaging also can be a significant service in competitive positioning, both alone and in conjunction with other programs and services. The purpose of this article is to provide a framework for linking diagnostic imaging to key hospital programs, and for forecasting future demands and capital requirements. The model has been developed over time in a number of settings in the United States and Canada. The specific examples are mostly from the Seton Healthcore Network in Austin, TX.

  5. Building research capital to facilitate research.

    Science.gov (United States)

    Green, Gill; Rein, Melanie

    2013-04-04

    The National Institute for Health Research, Research Design Service (NIHR RDS) was set up to increase the number and proportion of high quality applications for funding for applied and patient focused health and social care research. Access to specialist expertise and collaboration between researchers and health practitioners at the proposal development stage is crucial for high quality applied health research. In this essay we develop the concept of 'research capital' to describe the wide range of resources and expertise required to develop fundable research projects. It highlights the key role the RDS plays supporting researchers to broker relationships to access the requisite 'research capital'.

  6. 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 inco

  7. 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 inco

  8. 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 confide

  9. 27 CFR 31.134 - Increase in capital stock of a corporation.

    Science.gov (United States)

    2010-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 1 2010-04-01 2010-04-01 false Increase in capital stock... Registration Information Other Changes § 31.134 Increase in capital stock of a corporation. An amended registration is not required by reason of an increase in the capital stock of a corporation so long as a new...

  10. 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.

  11. Governing Harmonious Human Engagement with the Spatial Capital

    Directory of Open Access Journals (Sweden)

    Shukui Tan

    2014-03-01

    Full Text Available The unprecedented rate and scale of activities, simulated by human abode in its entirety, is having large and accelerating effects on the integrity of biophysical elements of spatial capital, at local, regional, and global scales. Real appreciation of these effects demands a dramatic change in human manipulation of the spatial capital. Spatial capital can be viewed as processes or a complex matrix, in which not only our spatial but social, economic, and intellectual needs are embedded. Through an extensive synthesis of literature, this study strives to situate as well as manage human abode in context of spatial capital. It focuses on the need of crafting spatial governance, which secures today’s needs without compromising the needs of abode for our future generations. For harmonious human engagement with the spatial capital, we focused on following major requisites: (i filling gaps in the understanding of processes of the respective spatial capital; (ii integration of this intellectual capital; (iii and spatial government supported by seamless institutionalisation, and governance processes in a global context. All modes of human abode are unique when analysed in the milieu of their social, economic, cultural, and intellectual yield, and their respective ecological footprint on spatial capital. An essential component of the sustainability of spatial capital is fundamental knowledge of the relevant biophysical processes, which yield the respective social, economic, cultural, and intellectual services we obtain from it. Action-oriented and integrated intellectual capital will yield the required awareness about the spatial capital, which when crystallised into proper institutions their processes will certainly produce promising outcomes for spatial management. Sustainable spatial constructs can only be produced through horizontal and vertical harmonization in governance institutions from the local to global level. It will not only help in the

  12. 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

  13. 75 FR 6151 - Minimum Capital

    Science.gov (United States)

    2010-02-08

    ... finance market conditions; (7) Level of reserves or retained earnings; (8) Initiatives, operations... for a periodic review of core capital maintained by an Enterprise, the amount of capital retained by...

  14. Capital Structure and Assets

    DEFF Research Database (Denmark)

    Flor, Christian Riis

    2008-01-01

    post optimally sell the assets or re-optimize the capital structure. Ex ante, more uncertain asset value decreases leverage, but not firm value, and selling the assets becomes less likely. Firms should tend to invest in assets whose value is less correlated to changes in earnings and, in addition...

  15. Capital projects coordination

    Directory of Open Access Journals (Sweden)

    Zubović Jovan

    2004-01-01

    Full Text Available This paper looks at the difficulties of managing modem capital projects and endeavors to reduce the complexities to simpler and more understandable terms. It examines the project environment, defines project management and discusses points of difference from traditional management. In the second part of the paper are presented fundamentals for project success for different types of projects.

  16. Cooperative social capital

    Directory of Open Access Journals (Sweden)

    Oscar Acera Manero

    2005-12-01

    Full Text Available Social capital consists of the contributions of members and associates, both mandatory and voluntary. From an accounting point of view, it is a liability figure that expresses the value of a portion of the equity of the cooperative. Its inclusion in the liability is not the fact that it is a debt but by its nature unenforceable.

  17. Manage "Human Capital" Strategically

    Science.gov (United States)

    Odden, Allan

    2011-01-01

    To strategically manage human capital in education means restructuring the entire human resource system so that schools not only recruit and retain smart and capable individuals, but also manage them in ways that support the strategic directions of the organization. These management practices must be aligned with a district's education improvement…

  18. Corruption and Social Capital

    DEFF Research Database (Denmark)

    Bjørnskov, Christian

    2003-01-01

    I examine the causal relation between social capiatl and corruption. A simple model illustrates potential mechanisms and yields testable implications, which I estimate in a sample of European countries. The estimated effect of social capital on corruption is found to be robust to the inclusion...... redistribution, which in turn reduces corruption....

  19. Manage "Human Capital" Strategically

    Science.gov (United States)

    Odden, Allan

    2011-01-01

    To strategically manage human capital in education means restructuring the entire human resource system so that schools not only recruit and retain smart and capable individuals, but also manage them in ways that support the strategic directions of the organization. These management practices must be aligned with a district's education improvement…

  20. Towards Transnational Academic Capitalism

    Science.gov (United States)

    Kauppinen, Ilkka

    2012-01-01

    This paper contributes to current debates on the relationship between globalisation and higher education. The main argument of the paper is that we are currently witnessing transnationalisation of academic capitalism. This argument is illustrated by examining the collaboration between transnational corporations and research universities, and how…

  1. Microfoundations of Social Capital

    DEFF Research Database (Denmark)

    Thöni, Christian; Tyran, Jean-Robert Karl; Wengström, Erik Roland

    2012-01-01

    Research on social capital routinely relies on survey measures of trust which can be collected in large and heterogeneous samples at low cost. We validate such survey measures in an incentivized public good experiment and show that they are importantly related to cooperation behavior in a large...

  2. 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...

  3. Microfoundations of Social Capital

    DEFF Research Database (Denmark)

    Thöni, Christian; Tyran, Jean-Robert; Wengström, Erik Roland

    We show that the standard trust question routinely used in social capital research is importantly related to cooperation behavior and we provide a microfoundation for this relation. We run a large-scale public goods experiment over the internet in Denmark and find that the trust question is a proxy...

  4. NANNING China's Green Capital

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    @@ Nanning,the capital city of Guangxi province,is not only the political,economic and cultural center of the province,but also plays an important role in the economic development of southwest China.Nanning's advantageous location makes the city a commercial and communication center,opening China to Southeast Asia.

  5. 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...

  6. Capitalizing on Happenstance

    Science.gov (United States)

    Krumboltz, John D.

    2011-01-01

    Unplanned events occur every day and have a deep impact on individuals' lives. The happenstance learning theory (Krumboltz, 2009; Krumboltz & Levin, 2010), briefly summarized in this article, provides guidance for employment counselors assisting clients to clarify goals and brainstorm actions to capitalize on chance events.

  7. Towards Transnational Academic Capitalism

    Science.gov (United States)

    Kauppinen, Ilkka

    2012-01-01

    This paper contributes to current debates on the relationship between globalisation and higher education. The main argument of the paper is that we are currently witnessing transnationalisation of academic capitalism. This argument is illustrated by examining the collaboration between transnational corporations and research universities, and how…

  8. Microfoundations of Social Capital

    DEFF Research Database (Denmark)

    Thöni, Christian; Tyran, Jean-Robert; Wengström, Erik Roland

    We show that the standard trust question routinely used in social capital research is importantly related to cooperation behavior and we provide a microfoundation for this relation. We run a large-scale public goods experiment over the internet in Denmark and find that the trust question is a proxy...

  9. On Representative Social Capital

    NARCIS (Netherlands)

    Bellemare, C.; Kroger, S.

    2004-01-01

    This paper analyzes data for a random sample drawn from the Dutch population who reveal their propensity to invest and reward investments in building up social capital by means of an economic experiment.We find substantial heterogeneity and asymmetries in the propensity to invest and in the propensi

  10. Human Capital and Sustainability

    Directory of Open Access Journals (Sweden)

    Garry Jacobs

    2011-01-01

    Full Text Available A study of sustainability needs to consider the role of all forms of capital—natural, biological, social, technological, financial, cultural—and the complex ways in which they interact. All forms of capital derive their value, utility and application from human mental awareness, creativity and social innovation. This makes human capital, including social capital, the central determinant of resource productivity and sustainability. Humanity has entered the Anthropocene Epoch in which human changes have become the predominant factor in evolution. Humanity is itself evolving from animal physicality to social vitality to mental individuality. This transition has profound bearing on human productive capabilities, adaptability, creativity and values, the organization of economy, public policy, social awareness and life styles that determine sustainability. This article examines the linkages between population, economic development, employment, education, health, social equity, cultural values, energy intensity and sustainability in the context of evolving human consciousness. It concludes that development of human capital is the critical determinant of long-term sustainability and that efforts to accelerate the evolution of human consciousness and emergence of mentally self-conscious individuals will be the most effective approach for ensuring a sustainable future. Education is the primary lever. Human choice matters.

  11. Is capitalism possible?

    NARCIS (Netherlands)

    Gaay Fortman, B. de

    1998-01-01

    In the two ages of its existence capitalism has given proof of its reformability. It was, however, anti-capitalist blueprints and ideas that constituted a continuous spiritual driving force towards reform. Today, after the collapse of real existing socialism there is an urgent need for new alternati

  12. Capital Structure and Assets

    DEFF Research Database (Denmark)

    Flor, Christian Riis

    2008-01-01

    post optimally sell the assets or re-optimize the capital structure. Ex ante, more uncertain asset value decreases leverage, but not firm value, and selling the assets becomes less likely. Firms should tend to invest in assets whose value is less correlated to changes in earnings and, in addition...

  13. Social capital and sports clubs

    OpenAIRE

    Tacon, Richard

    2014-01-01

    Book synopsis: \\ud \\ud This volume provides a collection of critical new perspectives on social capital theory by examining how social values, power relationships, and social identity interact with social capital. This book seeks to extend this theory into what have been largely under-investigated domains, and, at the same time, address long-standing, classic questions in the literature concerning the forms, determinants, and consequences of social capital.\\ud \\ud Social capital can be unders...

  14. 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...

  15. MODELLING SOCIAL CAPITAL AND GROWTH

    OpenAIRE

    Chou, Yuan K.

    2002-01-01

    This paper proposes three theoretical growth models incorporating social capital, based on varied expositions on the concept of social capital and the empirical evidence gathered to date. In these models, social capital impacts growth by assisting in the accumulation of human capital, by affecting financial development through its effects on collective trust and social norms, and by facilitating networking between firms that result in the creation and diffusion of business and technological i...

  16. The development of methodological approach to management of capital adequacy of insurance company through reinsurance

    Directory of Open Access Journals (Sweden)

    Opeshko Nataliya Sergiivna

    2015-02-01

    Full Text Available The article defines the essence of capital adequacy of insurance company. Theoretical aspects of estimation capital adequacy of insurer in accordance with the requirements of the Directive Solvency II are discussed. The methodological approach to management of capital adequacy of insurance company through reinsurance is developed in the article. The usefulness of using the developed approach for managing capital adequacy ratio is proved on the basis of conducted experiments.

  17. How venture capital works.

    Science.gov (United States)

    Zider, B

    1998-01-01

    The popular mythology surrounding the U.S. venture-capital industry derives from a previous era. Venture capitalists who nurtured the computer industry in its infancy were legendary both for their risk taking and for their hands-on operating experience. But today things are different, and separating the myths from the realities is crucial to understanding this important piece of the U.S. economy. Today's venture capitalists are more like conservative bankers than the risk takers of days past. They have carved out a specialized niche in the capital markets, filling a void that other institutions cannot serve. They are the linch-pins in an efficient system for meeting the needs of institutional investors looking for high returns, of entrepreneurs seeking funding, and of investment bankers looking for companies to sell. Venture capitalists must earn a consistently superior return on investments in inherently risky businesses. The myth is that they do so by investing in good ideas and good plans. In reality, they invest in good industries--that is, industries that are more competitively forgiving than the market as a whole. And they structure their deals in a way that minimizes their risk and maximizes their returns. Although many entrepreneurs expect venture capitalists to provide them with sage guidance as well as capital, that expectation is unrealistic. Given a typical portfolio of ten companies and a 2,000-hour work year, a venture capital partner spends on average less than two hours per week on any given company. In addition to analyzing the current venture-capital system, the author offers practical advice to entrepreneurs thinking about venture funding.

  18. A PRACTICAL ASSESSMENT FOR PSYCHOLOGICAL CAPITAL DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    Julio César Ponce Gutiérrez

    2016-07-01

    Full Text Available Psychological Capital has to do with individual psychological resources available to people in an organization which are useful for dealing with adversity. In this work, a practice with an intervention program to develop psychological capital is evaluated. The effect of practice in a sample of students in a Venezuelan public university (N = 15 were studied. Research and theory support the relationship of Psychological Capital components of hope, self-efficacy, optimism and resilience, with positive results in organizations both individually and organizational scope. Hence exploring the feature of malleability in CapPsi and therefore its developed capability it is interesting. There have been proven intervention models to develop CapPsi showing positive results. Practice to develop CapPsi (PCP shown in this paper is based on these initial models. Through an experimental design with pre- and post-test the effects of PCP on CapPsi levels is evaluated. Preliminary results support the hypothesis that through a concentrated training with a short practice, you can develop and improve levels of CapPsi.

  19. Working Paper on Social capital

    DEFF Research Database (Denmark)

    Lassen Hanan, Anne

    2013-01-01

    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...

  20. Bank capital management : International evidence

    NARCIS (Netherlands)

    De Jonghe, O.G.; Öztekin, Ö.

    2015-01-01

    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 (redu

  1. Thin Capitalization Rules and Entrepreneurial Capital Structure Decisions

    Directory of Open Access Journals (Sweden)

    Alexandra Maßbaum

    2009-12-01

    Full Text Available Tax planners often choose debt over equity financing. As this has led to increased corporate debt financing, many countries have introduced thin capitalization rules to secure their tax revenues. In a general capital structure model we analyze if thin capitalization rules affect dividend and financing decisions, and whether they can partially explain why corporations receive both debt and equity capital. We model the Belgian, German and Italian rules as examples. We find that the so-called Miller equilibrium and definite financing effects depend significantly on the underlying tax system. Further, our results are useful for the treasury to decide what thin capitalization type to implement.

  2. Recruiting, Selecting and Developing Executive Personnel in Capital Resource Management.

    Science.gov (United States)

    Nusbaum, Ned A.

    1984-01-01

    Obtaining qualified persons for capital resource management positions requires school districts and colleges to adopt nondiscriminatory selection and hiring policies. Guidelines are offered for the recruitment process, administering the selection process, and inhouse personnel development. (MLF)

  3. Effect of Psychological Capital on the Relationship between Job Requirement and Job Burnout of Physicians in Governmental Hospitals%医生心理资本在工作要求与职业倦怠间的调节效应

    Institute of Scientific and Technical Information of China (English)

    孙葵; 尹文强; 黄冬梅; 于倩倩; 赵延奎

    2014-01-01

    Objective To explore the role of psychological capital between job requirements and job burnout of physicians .Methods A multi-step random sample of 1910 physicians from medical organizations in Jinan ,Weifang and Dezhou was selected and assessed with Job Burnout Scale ,Psychological Capital Scale and Job Requirements Scale .Adopting descriptive analysis ,correlation analysis ,hier-archical regression analysis to analyze data .Results Physicians febt that the job requirements was high ,job requirements could forecast job burnout positively .Transactional psychological capital and interpersonal psychological capital could both affect job burnout directly (β=-0.26,-0.11;P<0.001) and play an regulatory role (β=-0.08,-0.12;P<0.01) between job requirements and job burnout . Conclusion In the harsh work situation ,improving the physician psychological capital can control job burnout .%目的:探讨心理资本在工作要求与医生职业倦怠间的作用。方法利用课题组编制的医生职业倦怠量表、心理资本量表、工作要求量表对山东省三地市(济南、潍坊、德州)1910名医生进行调查,采用描述性分析、相关分析、分层回归分析等方法进行资料分析。结果医生感到工作要求高,工作要求能正向预测职业倦怠。事务型心理资本和人际型心理资本既对医生职业倦怠有直接效应(β=-0.26,-0.11;P<0.001),又在工作要求与职业倦怠间发挥调节效应(β=-0.08,-0.12;P<0.01)。结论在严苛的工作要求下,通过提升医生心理资本水平可以有效控制职业倦怠。

  4. 32 CFR 169a.12 - New requirements.

    Science.gov (United States)

    2010-07-01

    ... of new requirements involving a capital investment of $500,000 or more will not be redelegated below the level of DAS or equivalent. (e) Approval to budget for a major capital investment associated...

  5. Evaluación preliminar de las patologías cutáneas asociadas con la aclimatación en cautiverio del “capitán de la sabana”, Eremophilus mutisii Preliminary Evaluation of Skin Pathology Associated with Captivity Aclimatation of “Capitán de la Sabana”, Eremophilus mutisii

    Directory of Open Access Journals (Sweden)

    Rodríguez A.

    2005-12-01

    Full Text Available El objetivo de este estudio fue investigar las causas que provocan ulceraciones mortales en capitanes de la sabana, Eremophilus mutisii, provenientes del embalse de Fúquene, departamento de Cundinamarca, Colombia (05°28'N 73°44'W, sometidos a cautiverio. De un lote de 53 peces se tomaron diez animales a los cuales se les realizaron, estudios clínicos, bacteriológicos, e histopatológicos de las úlceras dur ante ocho días, igualmente se realizó un antibiograma. Tanto en las lesiones como en el agua se aislaron bacterias Pseudomona spp. y Escherichia coli, resistentes a amoxicilina y sensibles a ciprofloxacina, norfloxacina, furazolidona y tetraciclina. El análisis histológico demostró necrosis de la epidermis y de los tejidos dérmicos subyacentes, e hiperplasia de las laminillas branquiales. El cuadro patológico se asocia con factores de estrés. Se sugiere realizar estudios adicionales sobre la etiología de la enfermedad y diseñar planes profilácticas con el fin de minimizar las pérdidas de los peces en cautiverio, los cuales exceden el 50% de los animales capturados.The aim of the present study was to explore the etiology of mortal ulcerations in "capitán de la sabana". Fishes were captured from Fúquene Lake, Cundinamarca department, Colombia (05°28'N 73°44'W and stocked in 100 L glass tanks in captivity. Ten fishes with skin ulcers were kept in an independent tank and changes in morphology, bacterial flora and organization of tissues were evaluated by means of bacteriology and histology techniques during eight days. Cultures for bacteria were done from the skin ulcers and from the tank water, and an antibiogram was carried out. The analysis showed the presence of common bacteria in the water flora and ulcers: Pseudomona spp. and Escherichia coli, resistant to the amoxicilin and sensitive to the ciprofloxacin, norfloxacin, furazolidon and tetraciclin. The histology demonstratednecrosis of the epidermis and underlaying

  6. Optimization of the customer capital management system of the enterprise

    Directory of Open Access Journals (Sweden)

    Ie.O. Golysheva

    2013-12-01

    Full Text Available The aim of the article. The aim of the article is development of methodology of optimization of customer capital management system for enterprises. The results of the analysis. Thу article presents the optimization of customer capital management system which based on author’s methodology of customer capital evaluation. This methodology is based on the definition of integral indexes for resource and potential components of customer capital. The author considers the system of business relationship with economic contractors, information about economic contractors and history of relations with them, the trademarks of the company to the resource part and distribution system, communication system and image of the company – to the potential part of customer capital. Accordingly, the improvement of the state of customer capital management is due to the implementation of complex of strategic actions to switch positions on the matrix «resource-potential». The increase of the resource base and potential of customer capital leads to increased competitive position of the company and increases the efficiency of its activities. However, increasing the level of customer capital is required costs of management actions. Therefore, it is necessity of determine of the optimal value of the result and the necessary costs to produce it. The article presents a graphical interpretation of depending costs of customer capital increasing, results of enterprise activity on the state of its customer capital. Going to the next quadrant of the matrix «resource-potential» is made in the direction of «up and right». It is linked to the achievement of results and additional costs. Their tentative list is given in the article. Each transition is associated with a certain level of results and costs. It is necessary to choose that variant, when the ratio is maximum. Thus, in the paper an algorithm has been developed that takes into account all possible transitions and

  7. Ensayo sobre el Capital Social

    Directory of Open Access Journals (Sweden)

    Ramón Frediani

    2011-08-01

    Full Text Available En la teoría económica existen distintas definiciones de capital: capital físico, el capital en recursos naturales, el capital financiero, el capital en infraestructura económica, el capital en infraestructura social y el capital humano. Todos ellos son condiciones necesarias para que un país alcance el desarrollo económico y social y un alto estándar y calidad de vida de sus habitantes, pero no suficientes puesto que hace falta una categoría adicional de capital. En los últimos años ha surgido el análisis de una nueva categoría: el Capital Social. El concepto se ha convertido en uno de los temas más debatidos de las ciencias sociales y políticas. Se refiere a un elemento invisible, etéreo, menos tangible que el capital humano (conocimientos y/o habilidades de los individuos o el capital físico (bienes materiales, pero que resulta decisivo para la actividad productiva, la satisfacción de las necesidades personales y el desarrollo comunitario y de una sociedad toda.

  8. 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.

  9. Religious social capital: Its measurement and utility in the study of the social determinants of health

    Science.gov (United States)

    Maselko, Joanna; Hughes, Cayce; Cheney, Rose

    2014-01-01

    As a social determinant of health, religiosity remains not well understood, despite the prevalence of religious activity and prominence of religious institutions in most societies. This paper introduces a working measure of Religious Social Capital and presents preliminary associations with neighborhood social capital and urban stressors. Religious social capital is defined as the social resources available to individuals and groups through their social connections with a religious community. Domains covered include group membership, social integration, values/norms, bonding/bridging trust as well as social support. Cross-sectional data come from a convenience sample of 104 community dwelling adults residing in a single urban neighborhood in a large US city, who also provided information on neighborhood social capital, and experiences of urban stressors. Results suggest that religious social capital is a valid construct that can be reliably measured. All indicators of religious social capital were higher among those who frequently attended religious services, with the exception of bridging trust (trust of people from different religious groups). A weak, inverse, association was also observed between religious and neighborhood social capital levels. Levels of religious social capital were correlated with higher levels of reported urban stressors, while neighborhood social capital was correlated with lower urban stressor levels. A significant percent of the sample was unaffiliated with a religious tradition and these individuals were more likely to be male, young and more highly educated. Social capital is a promising construct to help elucidate the influence of religion on population health. PMID:21802182

  10. Leveraging organisational cultural capital

    Directory of Open Access Journals (Sweden)

    R Scheel

    2007-01-01

    Full Text Available Organisational culture discourse mandates a linear approach of diagnosis, measurement and gap analysis as standard practice in relation to most culture change initiatives. Therefore, a problem solving framework geared toward “fixing�? and/or realigning an organisation’s culture is usually prescribed. The traditional problem solving model seeks to identify gaps between current and desired organisational cultural states, inhibiting the discovery of an organisation’s unique values and strengths, namely its cultural capital. In pursuit of discovering and leveraging organisational cultural capital, a descriptive case study is used to show how an Appreciative Inquiry process can rejuvenate the spirit of an organisation as a system-wide inquiry mobilises a workforce toward a shared vision.

  11. Managing soil natural capital

    DEFF Research Database (Denmark)

    Cong, Ronggang; Termansen, Mette; Brady, Mark

    2017-01-01

    Farmers are exposed to substantial weather and market related risks. Rational farmers seek to avoid large losses. Future climate change and energy price fluctuations therefore make adaptating to increased risks particularly important for them. Managing soil natural capital—the capacity of the soil...... to generate ecosystem services of benefit to farmers—has been proven to generate the double dividend: increasing farm profit and reducing associated risk. In this paper we explore whether managing soil natural capital has a third dividend: reducing the downside risk (increasing the positive skewness of profit......). This we refer to as the prudence effect which can be viewed as an adaptation strategy for dealing with future uncertainties through more prudent management of soil natural capital. We do this by developing a dynamic stochastic portfolio model to optimize the stock of soil natural capital—as indicated...

  12. 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.

  13. Start-Up Capital

    OpenAIRE

    Verheul, Ingrid; Thurik, Roy

    2000-01-01

    textabstractFemale and male entrepreneurs differ in the way they finance their businesses. This can be attributed to the type of business and the type of management and experience (indirect effect). Female start-ups may also experience other barriers based upon discriminatory effects (direct effect). Whether gender has an impact on size and composition of start-up capital, is the subject of the present paper. To test for these direct and indirect effects data of 2000 Dutch starting entreprene...

  14. 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.

  15. fuente de capital humano

    Directory of Open Access Journals (Sweden)

    Ligia Becerra

    2005-01-01

    Full Text Available El capital intelectual es una concepción novedosa, tipificada como un activo intangible que agrega valor a la empresa; está formado por tres componentes: el capital organizacional, el humano y el relacional. El capital humano está relacionado con el desarrollo y los conocimientos del individuo, que permite diferenciar a un profesional de otro. El objetivo de este trabajo es analizar la formación del Contador Público egresado de la Universidad de Los Andes (ULA de Trujillo, como fuente de capital humano para su desempeño profesional. Los datos se recolectaron aplicando un cuestionario a una muestra aleatoria de 47 de estos profesionales, empleando para el análisis y presentación de los resultados técnicas estadísticas. La investigación evidencia que la mayoría de los encuestados poseen un nivel de satisfacción de medio a bajo con su formación de pregrado, señalando como principales debilidades del Plan de Estudio las áreas tributaria y cambiaria, el manejo instrumental del inglés y el conocimiento de las normativas que rigen el sistema económico. La formación en algunas de estas áreas la han mejorado a través de otras actividades de capacitación. No obstante reconocen algunas fortalezas tales como: el aprendizaje y dominio de conceptos y Principios Contables de Aceptación General, las matemáticas y estadística, el manejo de la contabilidad computarizada y las habilidades para analizar e interpretar problemas contables. Se concluye que a pesar de las deficiencias, la realización de cursos de actualización, junto con las fortalezas en la formación de la carrera, ha contribuido a que el contador público egresado de la ULA de Trujillo constituya un capital humano con ventaja competitiva.

  16. 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...

  17. 76 FR 22450 - Agency Information Collection Activities; Proposed Information Collection Requirements; Comment...

    Science.gov (United States)

    2011-04-21

    ... state clearly the definition of capital used in any aspect of its internal capital adequacy assessment... are required under section 46 to periodically review the assessment of overall capital adequacy and to analyze how measures of internal capital adequacy compare with other capital measures (such as...

  18. 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…

  19. THE VENTURE CAPITAL CONTRIBUTION TO THE FINANCING OF ENTREPRENEURIAL PROJECTS: CASE OF TUNISIAN RISK CAPITAL INVESTMENT COMPANY (SICAR

    Directory of Open Access Journals (Sweden)

    GHODBANE ADEL

    2016-11-01

    Full Text Available Venture capital is a form of financing that a company can get. These are "temporary and minority equity participation in unlisted companies to subsequently generate capital gains. Translation of American term "venture capital. Venture capital in the strict sense concerns, meanwhile, that the only interventions in capital in new enterprises or in the creation phase "It is a kind private funding, unlike the financing of listed companies. The rationale of venture capital is that it is sometimes one of the only sources of major funding that a company can get for it. Other sources, such as loans from banks are often too difficult to obtain for a new business, as these sources consider some business projects are too risky. Starting a business environment that requires greater dynamism in investment and entrepreneurship, venture capital, a structured and organized in Tunisia, plays an important role in the financing chain and supporting businesses including innovative SMEs which constitute the most dynamic sector of the economy. In this report, we believe that venture capital is an important segment for the financing of SMEs in Tunisia it is imperative to develop in the direction of a better contribution to the scheme of financing of SMEs.

  20. On the capitalization and cultivation of social capital

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase; Waldstrøm, Christian

    2008-01-01

    Bourdieu's (1986) seminal definition of social capital as "the aggregate of the actual or potential resources" is reflected in older definitions, as well as in many current within sociology (e.g. Portes, 2000) and organization (Adler & Kwon, 2002). The definition is interesting, because it directs...... 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...

  1. 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.

  2. 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....

  3. Social capital and psychological distress.

    Science.gov (United States)

    Song, Lijun

    2011-12-01

    The author proposes a conceptual model to explain the diverse roles of social capital--resources embedded in social networks--in the social production of health. Using a unique national U.S. sample, the author estimated a path analysis model to examine the direct and indirect effects of social capital on psychological distress and its intervening effects on the relationships between other structural antecedents and psychological distress. The results show that social capital is inversely associated with psychological distress, and part of that effect is indirect through subjective social status. Social capital also acts as an intervening mechanism to link seven social factors (age, gender, race-ethnicity, education, occupational prestige, annual family income, and voluntary participation) with psychological distress. This study develops the theory of social capital as network resources and demonstrates the complex functions of social capital as a distinct social determinant of health.

  4. 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.

  5. 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.

  6. The amendment to the capital accord to incorporate market risk

    Directory of Open Access Journals (Sweden)

    M.J.B. HALL

    2013-10-01

    Full Text Available The Basle Committee on Banking Supervision has effected major changes to its proposals for amendments to the Capital Accord of 1998. These amendments involve the capital adequacy assessment of internationally active banks to take account of market risks and credit risks. They include the abolition of a dual observation period for determining capital charges and flexibility in terms of weighting schemes for the observation period as well as adjustment of banks' value-at-risk measure to arrive at the required 10-day holding period. A survey is undertaken of this new assessment regime.  

  7. Re-Thinking Social Capital

    Directory of Open Access Journals (Sweden)

    Zlatko Bukač

    2011-06-01

    Full Text Available The concept of social capital has been used very often in sociological researches over the last two decades. Measuring social capital in civil society, neighborhoods and educational systems is merely a part of its popular usage. Many sociologists tend to use the concept of social capital very freely and therefore expand the definition of social capital. The author’s personal experience indicates that there have been a great number of academic discussions, research planning and public speeches implementing the notion of social capital without taking a detailed consideration of what that concept truly entails. By overviewing the available literature on social capital, it is actually no wonder that both sociologists and the noted concept were in this confusing situation. As Field stated in his book Social Capital (Key Ideas, published in 2008, his work was “the first attempt to provide an extended introduction on increasingly influential concept of social capital” (Field 1. Quibria notes that even though there is a vast number of research conducted on social capital in many academic fields and with various approaches ‘the concept of social capital remains largely elusive’’(1. That obviously is not an obstacle because there is a constantly growing interest in social capital. A vast body of research concerning, measuring, and defining social capital is available today, which helps a researcher to analyze and compare all of the perspectives concerning social capital. This can be of great importance when researchers approach a somewhat new subject of research such as online communication and, more specifically, online games.

  8. 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.

  9. Contratos de capital humano

    Directory of Open Access Journals (Sweden)

    Oscar Alejandro Goyes Viteri

    2005-01-01

    Full Text Available Este documento busca dar a conocer el tema de la inversión en capital humano a través de la celebración de contratos atípicos y utilizando la fiducia mercantil y la titularización como vehículos financieros. Por medio de estos contratos un estudiante obtiene los recursos que requiere para financiar su educación superior, a cambio de entregar un porcentaje de sus ingresos después de su graduación a quien financió la operación.

  10. Capital social comunicativo

    Directory of Open Access Journals (Sweden)

    Darío Ángel

    2011-01-01

    Full Text Available En este artículo se buscan establecer las bases para una transformación del tradicional triángulo comunicativo emisor-mensaje-receptor, por un esquema que haga alusión a la dinámica social de la comunicación relacionada con lo público: actores-escenarios-sentidos. De esta forma, es posible conformar guías para la acción y encontrar en los actores ciudadanos de comunicación, la conformaciónde un capital social para la democracia.

  11. Microfoundations of Social Capital

    DEFF Research Database (Denmark)

    Thöni, Christian; Tyran, Jean-Robert; Wengström, Erik Roland

    We show that the standard trust question routinely used in social capital research is importantly related to cooperation behavior and we provide a microfoundation for this relation. We run a large-scale public goods experiment over the internet in Denmark and find that the trust question is a proxy...... for cooperation preferences rather than beliefs about others' cooperation. To disentangle the preference and belief channels, we run a (standard) public goods game in which beliefs matter for cooperation choices and one (using the strategy method) in which they do not matter. We show that the "fairness question...

  12. Human capital strategy: talent management

    National Research Council Canada - National Science Library

    Nagra, Michael

    2011-01-01

    .... 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...

  13. Taxes and Venture Capital Support

    DEFF Research Database (Denmark)

    Keuschnigg, Christian; Nielsen, Søren Bo

    2003-01-01

    -set may paradoxically contribute to higher quality of venturecapital finance and welfare. Subsidies to physical investment in VC-backed startupsare detrimental in our framework.Keywords: Venture capital, capital gains taxation, double moral hazard.JEL-Classification: D82, G24, H24, H25......'s success, but is not verifiable. Asa result, the market equilibrium is biased towards inefficiently low venture capitalsupport. The capital gains tax becomes especially harmful, as it further impairsadvice and causes a first-order welfare loss. Once the capital gains tax is in place,limitations on loss off...

  14. From Information Capitalism to Information Socialism

    Institute of Scientific and Technical Information of China (English)

    XiaoFeng

    2005-01-01

    Information technology and information capital are both neutral in character and can serve socialism as well as capitalism. As Karst pointed out, the information society is culturally and institutionally diverse. If in their transformation into social morphology information technology and capital may both end in socialism as well as capitalism, then what is the essential distinction between information capitalism and information socialism?

  15. Human capital and optimal positive taxation of capital income

    NARCIS (Netherlands)

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

    2010-01-01

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

  16. Culture as Capital

    DEFF Research Database (Denmark)

    Kacunko, Slavko

    A collection of essays 2011-2014 By following, and reproducing, the cultural turn, the rhetoric of cultural mix and hybridism is disseminated today primarily in its crossing of trade barriers. Cultures reduced to their exchange value function as capital - an accumulative, speculative and, ultimat......A collection of essays 2011-2014 By following, and reproducing, the cultural turn, the rhetoric of cultural mix and hybridism is disseminated today primarily in its crossing of trade barriers. Cultures reduced to their exchange value function as capital - an accumulative, speculative and......, ultimately, financial affair. In some of its media and site-(un)specific manifestations, process art - which aims to encompass both old and new media art - seems to resist this pressure, despite, nonetheless, not being protected from regulations and incorporations. In the present collection of his recent...... essays, Slavko Kacunko discusses the process art by crossing the disciplines of art history and comparative media-, visual- and -cultural studies. As a first approximation, several historiographical remarks on closed-circuit video installations underline their importance as a core category of process art...

  17. Preliminary Cost Estimates of Pollution Control Technologies for Geothermal Developments

    Energy Technology Data Exchange (ETDEWEB)

    Sung, R.; Houser, G.; Richard, G.; Cotter, J.; Weller, P.; Pulaski, E.

    1979-10-01

    This is the first report from the EPA estimating the cost of technology for mitigating pollution that might arise from geothermal power systems. The Environmental Protection Agency (EPA) has taken an initial step towards the establishment of regulatory standards for the geothermal industry by preparing a document entitled Pollution Control Guidance for Geothermal Energy Development. This report supports that document by providing pollution control cost information. The objective of this report is to provide preliminary cost estimates for air and water pollution treatment and disposal technologies applicable for geothermal energy conversion systems. Cost estimates include both annualized capital investment and operation and maintenance (O&M) costs for various levels of environmental requirements. [DJE-2005

  18. 12 CFR 565.4 - Capital measures and capital category definitions.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Capital measures and capital category... PROMPT CORRECTIVE ACTION § 565.4 Capital measures and capital category definitions. (a) Capital measures. For purposes of section 38 and this part, the relevant capital measures shall be: (1) The total...

  19. 12 CFR 325.103 - Capital measures and capital category definitions.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 4 2010-01-01 2010-01-01 false Capital measures and capital category... STATEMENTS OF GENERAL POLICY CAPITAL MAINTENANCE Prompt Corrective Action § 325.103 Capital measures and capital category definitions. (a) Capital measures. For purposes of section 38 and this subpart,...

  20. 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...

  1. San Diego's Capital Planning Process

    Science.gov (United States)

    Lytton, Michael

    2009-01-01

    This article describes San Diego's capital planning process. As part of its capital planning process, the San Diego Unified School District has developed a systematic analysis of functional quality at each of its school sites. The advantage of this approach is that it seeks to develop and apply quantifiable metrics and standards for the more…

  2. Capital flight and political risk

    NARCIS (Netherlands)

    Lensink, R; Hermes, N; Murinde, [No Value

    This paper provides the first serious attempt to examine the relationship between political risk and capital flight for a large set of developing countries. The outcomes of the analysis show that in most cases political risk variables do have a statistically robust relationship to capital flight

  3. Social Capital and Stability Operations

    Science.gov (United States)

    2008-03-26

    lowers drug use, criminality, and teenage pregnancies , while increasing youth academic success, economic development, and government effectiveness.49...addition to skills and knowledge , human capital also includes people’s ability to associate with each other. He defined social capital as the ability

  4. Exploring the social capital grid

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase; Patulny, Roger

    2007-01-01

    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....

  5. Avascular Necrosis of the Capitate

    OpenAIRE

    Bekele, Wosen; Escobedo, Eva; Allen, Robert

    2011-01-01

    Avascular necrosis of the capitate is a rare entity. The most common reported etiology is trauma. We report a case of avascular necrosis of the capitate in a patient with chronic wrist pain that began after a single episode of remote trauma.

  6. Schools, Social Capital and Space

    Science.gov (United States)

    Allan, Julie; Catts, Ralph

    2014-01-01

    This paper reports on the significance of social capital in relation to education, exploring its relevance to teachers and other professionals as well as among young people. It draws on aspects of five case studies undertaken by the Schools and Social Capital Network, within the Applied Educational Research Scheme in Scotland. These case studies…

  7. Venture Capital and Innovation Strategies

    NARCIS (Netherlands)

    Da Rin, M.; Penas, M.F.

    2015-01-01

    Venture capital is a specialized form of financial intermediation that often provides funding for costly technological innovation. Venture capital firms need to exit portfolio companies within about five years from the investment to generate returns for institutional investors. This paper is the

  8. Venture Capital and Innovation Strategies

    NARCIS (Netherlands)

    Da Rin, M.; Penas, M.F.

    2015-01-01

    Venture capital is a specialized form of financial intermediation that often provides funding for costly technological innovation. Venture capital firms need to exit portfolio companies within about five years from the investment to generate returns for institutional investors. This paper is the fir

  9. Universities Venture into Venture Capitalism.

    Science.gov (United States)

    Desruisseaux, Paul

    2000-01-01

    Reports that some universities are starting their own venture-capital funds to develop campus companies, or are investing endowment funds with established venture-capital firms inclined to finance potential spinoffs from campus research. Examples cited are from the University of Alabama, Vanderbilt University (Tennessee), University of…

  10. Schools, Social Capital and Space

    Science.gov (United States)

    Allan, Julie; Catts, Ralph

    2014-01-01

    This paper reports on the significance of social capital in relation to education, exploring its relevance to teachers and other professionals as well as among young people. It draws on aspects of five case studies undertaken by the Schools and Social Capital Network, within the Applied Educational Research Scheme in Scotland. These case studies…

  11. Innovation and venture capital exits

    NARCIS (Netherlands)

    Schwienbacher, A.

    2008-01-01

    This article analyses how start-ups financed by venture capital choose their innovation strategy based on the investor's exit preferences and thereby form different outcomes in the product market. It considers innovation choices and venture capital exits (IPO vs trade sale) in a setting in which ent

  12. Social Capital and Savings Behavior

    DEFF Research Database (Denmark)

    Newman, Carol; Tarp, Finn; Khai, Luu Duc

    In this paper, we analyze household savings in rural Vietnam paying particular attention to the factors that determine the proportion of savings held as formal deposits. Our aim is to explore the extent to which social capital can play a role in promoting formal savings behavior. Social capital...

  13. Patterns of International Capital Raisings

    OpenAIRE

    Gozzi, Juan Carlos; Levine, Ross; Schmukler, Sergio L.

    2008-01-01

    This paper documents several new patterns associated with firms issuing securities in foreign markets that motivate the need for and help guide future research. Besides noting that these international capital raisings grew almost four-fold from 1991 to 2005, accounting for 35 percent of all capital raised through security issuances, the paper has three main findings. First, a large and gro...

  14. Capital flight and political risk

    NARCIS (Netherlands)

    Lensink, R; Hermes, N; Murinde, [No Value

    2000-01-01

    This paper provides the first serious attempt to examine the relationship between political risk and capital flight for a large set of developing countries. The outcomes of the analysis show that in most cases political risk variables do have a statistically robust relationship to capital flight onc

  15. Capital loss in China's agriculture

    Institute of Scientific and Technical Information of China (English)

    Cheng Peng

    2004-01-01

    China's agriculture has contributed a lot to industrialization but it has suffered a long-run and severe capital loss.This paper provides an estimation model of capital loss in agriculture and gives some explanation in marginal approach.With an eye to a balanced and sustainable economy development, it is high time for government to do something for it.

  16. Business model and Intellectual Capital

    DEFF Research Database (Denmark)

    Lindgren, Peter; Saghaug, Kristin Margrethe

    2012-01-01

    When practicing business model (BM) innovation releasing intellectual capital (IC) strategically from SME´s BMs through the innovation process can be extremely difficult and complex to carry out especially to small and medium size enterprises (SME). There are so many opportunities and resources...... in SME´s Intellectual Capital – but how to release them?...

  17. Cultural capital as a measurand

    Science.gov (United States)

    Taymanov, R.; Sapozhnikova, K.

    2016-11-01

    The necessity for developing metrology due to extension of its application sphere is noted. The efficiency of the metrological approach to measurement of multidimensional quantities in the field of humanities is shown using the development of cultural capital interpreted by L. Harrison. The cultural capital is defined as a measure of the society structure complexity and adaptive capacity.

  18. The Performance of Intellectual Capital

    DEFF Research Database (Denmark)

    Murthy, Vijaya; Mouritsen, Jan

    2011-01-01

    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...

  19. Performance systems and social capital

    DEFF Research Database (Denmark)

    Rasmussen, Grane Mikael Gregaard; Edwards, Kasper

    2014-01-01

    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...

  20. Exploring the social capital grid

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase; Patulny, Roger

    2007-01-01

    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....

  1. 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...

  2. 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.

  3. 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....

  4. Individual social capital and survival

    DEFF Research Database (Denmark)

    Ejlskov, Linda; Mortensen, Rikke Nørmark; 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...

  5. 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.

  6. Culture as Capital

    DEFF Research Database (Denmark)

    Kacunko, Slavko

    A collection of essays 2011-2014 By following, and reproducing, the cultural turn, the rhetoric of cultural mix and hybridism is disseminated today primarily in its crossing of trade barriers. Cultures reduced to their exchange value function as capital - an accumulative, speculative and...... essays, Slavko Kacunko discusses the process art by crossing the disciplines of art history and comparative media-, visual- and -cultural studies. As a first approximation, several historiographical remarks on closed-circuit video installations underline their importance as a core category of process art....... In the second part, the problems of process art, seen as a threshold of art history, are further examined in another retroanalytical step, in which concepts and objects related to `mirror', `frame' and `immediacy' are analyzed as the triple delimitation of visual culture studies. In the third part, previously...

  7. Culture as Capital

    DEFF Research Database (Denmark)

    Kacunko, Slavko

    A collection of essays 2011-2014 By following, and reproducing, the cultural turn, the rhetoric of cultural mix and hybridism is disseminated today primarily in its crossing of trade barriers. Cultures reduced to their exchange value function as capital - an accumulative, speculative and...... essays, Slavko Kacunko discusses the process art by crossing the disciplines of art history and comparative media-, visual- and -cultural studies. As a first approximation, several historiographical remarks on closed-circuit video installations underline their importance as a core category of process art....... In the second part, the problems of process art, seen as a threshold of art history, are further examined in another retroanalytical step, in which concepts and objects related to `mirror', `frame' and `immediacy' are analyzed as the triple delimitation of visual culture studies. In the third part, previously...

  8. TIME, CAPITAL AND THE STRUCTURE OF PRODUCTION

    Directory of Open Access Journals (Sweden)

    IFRIM MIHAELA

    2014-05-01

    Full Text Available The doctrinal monopolizing of the modern economic theory by supporters of Monetarism and Keynesism deprived it by one of its essential components- the capital theory. Emphasising the role of monetary and fiscal policies has diverted the concerns for real economy and its productive structures. It was constantly overlooked that any fluctuation in the monetary economy is soon translated into fluctuations in the real economy, in its structure of production.This reality requires the inclusion, in any serious analysis of the cyclical fluctuations, of the capital theory and of the role of time in the processes of production. The paper aims to highlight how the structure of production responds to interest rate cuts by extending, simultaneous, investment and consumption. We obtain the picture of an economy that works beyond the limits imposed by its resources, which justifies the emergence of economic crises and depressions.

  9. A Phenomenology of Capital

    Directory of Open Access Journals (Sweden)

    Christian Schmidt

    2017-02-01

    Full Text Available O artigo aborda a questão da metodologia que Marx utilizou em O Capital. A hipótese é que Marx utiliza a Fenomenologia do Espírito de Hegel como paradigma, em vez da Ciência da Lógica, como se acredita. O argumento discerne a fenomenologia do século 19 a partir da compreensão atual, moldada por Husserl. Além disso, eu remeto a ideia de uma fenomenologia em economia de volta ao círculo dos jovens hegelianos em torno de Proudhon. No entanto, o argumento é conclusivo apenas por um olhar mais atento ao uso que Hegel e Marx fazem dos níveis distintos de abstração dentro de suas respectivas exposições. O artigo demonstra especialmente os paralelos no início de ambos os livros e a forma como os seus autores avançam de um nível para o outro. Em contraste com as abordagens atuais que empregam a Ciência da Lógica como paradigma, eu saliento a especificidade que os objetos de investigação exibem em seus níveis particulares de abstração. Exemplos são a diferença de valores e preços de mercado e a discriminação entre capitais em geral e capital como um de muitos capitais em competição.

  10. National Capital Planning Commission Meeting Transcripts

    Data.gov (United States)

    National Capital Planning Commission — Transcripts of the monthly (with the exception of August) National Capital Planning Commission meeting transcripts are provided for research to confirm actions taken...

  11. 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.

  12. 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.

  13. DESIGN DEVELOPMENT OF THE WATER SUPPLY WELLS AND METHODS OF THEIR CAPITAL REPAIR

    Directory of Open Access Journals (Sweden)

    V. V. Ivashechkin

    2016-01-01

    Full Text Available The article presents analysis of shortcomings and benefits of individual techniques for the capital repair of out-of-commission water wells of standard designs. The author considers the capital repair procedure of water well No 3B of Zhodino ‘Severniy’ water supply point by means of installing a repair filter of smaller diameter inside the failed one, cushioning the tubular annulus with gravel. It is shown that this kind of repair can be considered a temporary arrangement inasmuch as the water well specific yield and service life period will reduce significantly. For prolongation of the useful life of the water wells, the paper suggests performing preliminary unloading of their filters. The study reveals that the well capital repair by means of extracting the old filter and exchanging it with a new one can be complicated by the column burst along the welding joints working in tension. The performed column strength test demonstrated the fact that the required heave might exceed the welding joint tolerant tensile force owing to considerable friction of the column against the ground. The author arrives at a design equation of the heave required for extracting the production column with the filter applying only the static force. In which they offer to determine frictional force of the mudded filter against the formation from calculating formulae of the supporting power of an augered pile working with pulling loads. For decreasing the heaves via reducing frictional loads of the mudded filter against the formation, an improved design of the water well has been introduced recognized as an invention with the filter capable of downward biasing. Such water well design allows at the filter mud fill in the first instance the entire filtering column to be biased (knocked down inside a special sleeve placed lower the settler by applying external buffing force, and then only extracting the filtering column out of the well by decreased traction pull. The

  14. 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.

  15. Emerging Forms of Cultural Capital

    DEFF Research Database (Denmark)

    Prieur, Annick; Savage, Mike

    2013-01-01

    This paper takes stock of recent research on patterns of cultural engagement in various European nations, with specific reference to British and Danish research. It argues that Bourdieu's original theorisation of cultural capital in ‘Distinction’ needs to be significantly updated to register...... the decline of ‘highbrow’ culture which these studies reveal. However, we argue that this shift does not entail the erosion of cultural capital itself, or the rise of the ‘cultural omnivore’, so much as the emergence of a form of ‘cosmopolitan cultural capital’. We argue that this emerging cultural capital...

  16. Capital-imperialismo e neoliberalismo

    OpenAIRE

    Campagnaro, Yuri Gabriel

    2014-01-01

    Resumo: O marxismo interpreta o imperialismo desde Hilferding, com sua análise do capital financeiro em 1910. Lenin sintetizou o primeiro debate, caracterizando o imperialismo como uma nova fase do capitalismo, com monopólios e maior centralização do capital. O debate se estende à década de 1970 com Mandel, que identificou uma alteração na morfologia do capital de então. Os autores contemporâneos debatem o período do capitalismo após os anos 1970, entre eles David Harvey e Virgínia Fontes. Ch...

  17. Solow Residuals Without Capital Stocks

    DEFF Research Database (Denmark)

    Burda, Michael C.; Severgnini, Battista

    2014-01-01

    investment expenditures: one eliminates the capital stock by direct substitution, while the other employs generalized differences of detrended data and the Malmquist index. In short samples, these measures can exhibit consistently lower root mean squared errors than the Solow–Törnqvist counterpart. Capital......We use synthetic data generated by a prototypical stochastic growth model to assess the accuracy of the Solow residual (Solow, 1957) as a measure of total factor productivity (TFP) growth when the capital stock in use is measured with error. We propose two alternative measurements based on current...

  18. 12 CFR 932.7 - Reporting requirements.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Reporting requirements. 932.7 Section 932.7 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL REQUIREMENTS § 932.7 Reporting requirements. Each Bank shall...

  19. 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.

  20. Capitales, capitalización, capitalismo. Explorando las múltiples caras del capital/Capitals, capitalization, capitalism. Exploring the numerous faces of capital

    National Research Council Canada - National Science Library

    Juan Ignacio Castien Maestro

    2013-01-01

    According to the marxian conception, capital represents a social mechanism that organizes and structures social relations characterised by domination and exploitation and it is defined as the social...

  1. Irrigation as a Determinant of Social Capital in India: A Large-Scale Survey Analysis

    OpenAIRE

    von Carnap-Bornheim, Tillmann

    2016-01-01

    Practicing agriculture requires organisation and coordination. To analyse the extent to which differences in agricultural practices can account for variation in social capital, a large survey containing indicators of social capital is combined with detailed agricultural statistics. The main factor under analysis is irrigation, together with prevalent grain sorts, thereby building on prior research. The richness of the datasets allows to explore various dimensions of social capital in geograph...

  2. The Valuation of Organizational Capital

    Directory of Open Access Journals (Sweden)

    Fiala Roman, Borůvková Jana

    2012-12-01

    Full Text Available The authors’ aim was to create a model suitable for measuring organization capital. This model was produced by means of the Forward and Backward Stepwise methods, on the basis of company information. Low p-levels (approaching 0 show the statistical significance of all regression coefficients, including the intercept. Organizational capital of 2,796 companies in the Czech Republic was quantified. A statistically significant correlation between organizational capital and return on equity (ROE, as well as between organizational capital and return on assets (ROA, has been established. This article is a part of the results of the project No. 402/09/2057 ‘‘Measurement and Management of Intangible Assets Impact on Firm Performance’’ financed by Czech Science Foundation.

  3. Emerging Forms of Cultural Capital

    DEFF Research Database (Denmark)

    Prieur, Annick; Savage, Mike

    - the claims that there are forms of emotional, subcultural or national cultural capital at work - The claim about cosmopolitanism or an international orientation as a distinctive feature of the culturally privileged classes The paper responds to the first theme announced in the call for this conference......This paper reviews recent European studies to assess whether cultural capital now has the same characteristics – or may be rather the same functions - as when Distinction was written. The paper will examine empirical applications of the concept of cultural capital in leading European studies...... – and hence are highly appropriate for direct comparisons with that study. This paper will begin by raising general issues regarding the meaning of the concept, and about how one may make assessments and claims about cultural capital. Here we consider how the legitimacy of certain cultural competencies...

  4. Human capital and career success

    DEFF Research Database (Denmark)

    Frederiksen, Anders; Kato, Takao

    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...... evidence for the first time for the population of workers in an entire economy (as opposed to case study evidence) on the effects of the nature and scope of human capital on career success (measured by appointments to top management). First, we confirm the beneficial effect of acquiring general human...... 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...

  5. Capital Markets Union for Europe

    DEFF Research Database (Denmark)

    Ringe, Wolf-Georg

    The economic case for the recent proposal on a European ‘Capital Markets Union’ is obvious. However, the name is more symbolic than real, and the substance falls short of proposing a fully unified capital market across the EU. This short paper identifies several shortcomings of the project. In pa...... to repair the relationship with the UK and to win back support from the City of London for the European Single Market. As such, the project as a whole is certainly laudable, and it might turn out to be the right step at the right time.tion.......The economic case for the recent proposal on a European ‘Capital Markets Union’ is obvious. However, the name is more symbolic than real, and the substance falls short of proposing a fully unified capital market across the EU. This short paper identifies several shortcomings of the project...

  6. 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.

  7. Capitalizing on the Overlap between Instructional Technology and Human Resource Development: A Potential Opportunity

    Science.gov (United States)

    Demps, Elaine L.

    2008-01-01

    This article explores the apparent overlap between the fields of instructional technology (IT) and human resource development (HRD) and offers a preliminary conceptualization of how to capitalize on the overlap through graduate academic curricula, where IT and HRD practitioners and scholars are developed. This conceptualization was formed by first…

  8. 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...

  9. 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...

  10. 47 CFR 32.4540 - Other capital.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 2 2010-10-01 2010-10-01 false Other capital. 32.4540 Section 32.4540... FOR TELECOMMUNICATIONS COMPANIES Instructions for Balance Sheet Accounts § 32.4540 Other capital. This... capital stock, capital recorded upon the reorganization or recapitalization of the company and...

  11. Mengukur Kontribusi Human Capital terhadap Tujuan Perusahaan

    Directory of Open Access Journals (Sweden)

    Brata Wibawa Djojo

    2010-10-01

    Human Capital Cost Factor, (iv Human Capital Value Added, and (v Human Capital Return on Investment. Results of research can provide guidelines for the management, especially for management of JLI in view of Human Capital contribution to corporate objectives, namely in terms of staffing and agency.

  12. 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...

  13. 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

  14. The Era of Super Capitalism

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    The world has entered the "super capitalism" era when one third of its economic activities are controlled by less than 3 percent of global financial capital. This year,a global economic recession,triggered by the U.S. subprime mortgage crisis,seems unavoidable. To tackle international financial problems,Tao Dong,Chief Economist for Asia at Credit Suisse First Boston in Hong Kong,shared his insights with China Business Journal. Excerpts follow.

  15. Do European capital flows comove?

    OpenAIRE

    Silvio Contessi; Pierangelo DePace

    2008-01-01

    We study the cross-sectional correlations of net, total, and disaggregated capital flows for the major source and recipient European Union countries. We seek evidence of changes in these correlations since the introduction of the euro to understand whether the European Union can be considered a unique entity with regard to its international capital flows. We first use Ng's (2006) "uniform spacing" methodology to rank cross-sectional correlations (i.e., which flows comove more) and to shed lig...

  16. Splendid Arts Fram Ancient Capitals

    Institute of Scientific and Technical Information of China (English)

    1998-01-01

    IT was in the golden autumn in Beijing, when the sky was high and the air clear, that I hurried to Zhongshan Park to witness the display of the songs and dances of the seven Chinese ancient capitals. The flower beds arranged for the celebration of National Day were still there and the colorful blooms looked especially bright in the sunshine. The seven cities which have served as capitals in Chinese history are Beijing,

  17. 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....

  18. 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.

  19. 76 FR 40407 - Sterling Capital Funds and Sterling Capital Management LLC; Notice of Application

    Science.gov (United States)

    2011-07-08

    ... COMMISSION Sterling Capital Funds and Sterling Capital Management LLC; Notice of Application July 1, 2011.... Applicants: Sterling Capital Funds (the ``Trust'') and Sterling Capital Management LLC (``Sterling'' and... serves as a Sub-Adviser of Sterling Capital International Fund; and Federated Investment...

  20. 12 CFR 6.4 - Capital measures and capital category definitions.

    Science.gov (United States)

    2010-01-01

    ... categories of asset quality, management, earnings, or liquidity. ... risk-based capital ratio; (2) The Tier 1 risk-based capital ratio; (3) The leverage ratio. (b) Capital...) Well capitalized if the bank: (i) Has a total risk-based capital ratio of 10.0 percent or greater;...

  1. Challenges faced by Pakistani pharmaceutical industry: An intellectual capital perspective

    Directory of Open Access Journals (Sweden)

    Khalique, Muhammad

    2012-04-01

    Full Text Available Intellectual capital is recognized as one of the most critical factors for the success of organizations in a knowledge-based economy. In a knowledge-based economy high tech organizations are facing tremendous challenges to gain competitive advantage. The main objective of this study is to introduce the concept and applications of intellectual capital in Pakistani pharmaceutical industry. Pakistani pharmaceutical industry is one of the major industries and it has 70% of share to fulfill the demand of finished pharmaceutical products. This industry also contributes in economic growth and development. This study is a preliminary in nature and it will also be a milestone for future research on this topic.

  2. Human Capital, Fertility, and Economic Growth

    OpenAIRE

    Gary S. Becker; Murphy, Kevin M.; Robert F. Tamura

    1990-01-01

    Our model of growth departs from both the Malthusian and neoclassical approaches by including investments in human capital. We assume, crucially, that rates of return on human capital investments rise, rather than, decline, as the stock of human capital increases, until the stock becomes large. This arises because the education sector uses human capital note intensively than either the capital producing sector of the goods producing sector. This produces multiple steady scares: an undeveloped...

  3. An Economic Viewpoint on Capitalism Bashing

    OpenAIRE

    Burnete Sorin

    2016-01-01

    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 cle...

  4. An Economic Viewpoint on Capitalism Bashing

    OpenAIRE

    Burnete Sorin

    2016-01-01

    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 cle...

  5. 78 FR 62017 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

    Science.gov (United States)

    2013-10-11

    ... Value Correlation Factor 4. Credit Valuation Adjustments a. Simple Credit Valuation Adjustment Approach... argued that the proposals would have significant negative consequences for the financial services...) portfolio or holding additional regulatory capital solely to mitigate the volatility resulting from...

  6. 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.

  7. 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.

  8. A Preliminary Assessment of the Initial Compression Power Requirement in CO2 Pipeline “Carbon Capture and Storage (CCS Technologies”

    Directory of Open Access Journals (Sweden)

    Abdussalam El-Suleiman

    2016-05-01

    Full Text Available CO2 captured from fossil-fueled power generation plants is said to be economically transported via pipelines over long distances. The CO2 must be compressed to pipeline specifications using compressors and pumps that are driven by gas turbine (GT or other prime movers. This paper presents the evaluation of actual work transfer or required prime power by modeling the governing equations of compression using the Peng–Robinson equation of state (PR-EOS. A computer code was developed to carry out the modeling and subsequent simulation of the compression power requirement. The simulation of prime mover power was carried out for different technology (head per stage of the compressor ranging from 10-staged compression to double stage compression. The results show that the current technology of the centrifugal compressor could require as much as 23MW of prime mover power to compress 1.5 million tonnes per year of CO2—a projected equivalent CO2 released from a 530MW combined cycle gas turbine (CCGT power generation plant.

  9. 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.

  10. 12 CFR 652.85 - When to report the risk-based capital level.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false When to report the risk-based capital level. 652.85 Section 652.85 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM FEDERAL AGRICULTURAL MORTGAGE CORPORATION FUNDING AND FISCAL AFFAIRS Risk-Based Capital Requirements § 652.85 When...

  11. 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.

  12. Human Capital Tracking Tool -

    Data.gov (United States)

    Department of Transportation — AVS is now required to collect, track, and report on data from the following Flight, Business and Workforce Plan. The Human Resource Management’s Performance Target...

  13. 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...

  14. 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

  15. Transnational Investments in Informational Capital

    DEFF Research Database (Denmark)

    D. Munk, Martin

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

  16. The measurement of social capital.

    Science.gov (United States)

    Villalonga-Olives, Ester; Kawachi, Ichiro

    2015-01-01

    Social capital has been defined as the resources available to individuals and groups through membership in social networks. The definition is consistent with either an individualistic approach, i.e. resources (such as information or instrumental assistance) that are accessed by individuals through their network connections; or a collective approach, e.g. the benefits accruing to members of a group - such as the ability of a community to engage in collective action - as a consequence of the existence of cohesive relationships. While research often restricts itself to a single level of analysis, the benefits (and downsides) of social capital accrue to both the individual as well as to the network to which he belongs. In the Dictionary of Epidemiology both the individual and collective levels of analysis were recognized in the definition of social capital. Copyright © 2014 SESPAS. Published by Elsevier Espana. All rights reserved.

  17. Health, Human Capital, and Development.

    Science.gov (United States)

    Bleakley, Hoyt

    2010-09-01

    How much does disease depress development in human capital and income around the world? I discuss a range of micro evidence, which finds that health is both human capital itself and an input to producing other forms of human capital. I use a standard model to integrate these results, and suggest a re-interpretation of much of the micro literature. I then discuss the aggregate implications of micro estimates, but note the complications in extrapolating to general equilibrium, especially because of health's effect on population size. I also review the macro evidence on this topic, which consists of either cross-country comparisons or measuring responses to health shocks. Micro estimates are 1-2 orders of magnitude smaller than the cross-country relationship, but nevertheless imply high benefit-to-cost ratios from improving certain forms of health.

  18. Emerging Forms of Cultural Capital

    DEFF Research Database (Denmark)

    Prieur, Annick; Savage, Mike

    or preferences can be demonstrated, and how the move can be made from observing structured oppositions in cultural consumptions to claims about the existence of cultural capital? We note that current research frequently lack a clear argument about how the cultural forms possessed by the culturally privileged...... Distinction about the significance and content of emerging forms of cultural capital in different Western societies. Among the claims to be discussed are the following: - the claim about a decline in the adherence to traditional highbrow or classic high culture - the claim about increased omnivorousness and...... - the claims that there are forms of emotional, subcultural or national cultural capital at work - The claim about cosmopolitanism or an international orientation as a distinctive feature of the culturally privileged classes The paper responds to the first theme announced in the call for this conference...

  19. Health, Human Capital, and Development*

    Science.gov (United States)

    Bleakley, Hoyt

    2013-01-01

    How much does disease depress development in human capital and income around the world? I discuss a range of micro evidence, which finds that health is both human capital itself and an input to producing other forms of human capital. I use a standard model to integrate these results, and suggest a re-interpretation of much of the micro literature. I then discuss the aggregate implications of micro estimates, but note the complications in extrapolating to general equilibrium, especially because of health’s effect on population size. I also review the macro evidence on this topic, which consists of either cross-country comparisons or measuring responses to health shocks. Micro estimates are 1–2 orders of magnitude smaller than the cross-country relationship, but nevertheless imply high benefit-to-cost ratios from improving certain forms of health. PMID:24147187

  20. Transnational Investments in Informational Capital

    DEFF Research Database (Denmark)

    D. Munk, Martin

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

  1. The measurement of social capital

    Directory of Open Access Journals (Sweden)

    Ester Villalonga-Olives

    2015-01-01

    Full Text Available Social capital has been defined as the resources available to individuals and groups through membership in social networks. The definition is consistent with either an individualistic approach, i.e. resources (such as information or instrumental assistance that are accessed by individuals through their network connections; or a collective approach, e.g. the benefits accruing to members of a group – such as the ability of a community to engage in collective action – as a consequence of the existence of cohesive relationships. While research often restricts itself to a single level of analysis, the benefits (and downsides of social capital accrue to both the individual as well as to the network to which he belongs. In the Dictionary of Epidemiology both the individual and collective levels of analysis were recognized in the definition of social capital.

  2. 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.

  3. 76 FR 1889 - Risk-Based Capital Guidelines: Market Risk

    Science.gov (United States)

    2011-01-11

    ... basic components of sound market risk management. For example, the current market risk capital rule requires an independent risk control unit that reports directly to senior management and an internal risk measurement model that is integrated into the daily management process. The quantitative criteria include the...

  4. 77 FR 53059 - Risk-Based Capital Guidelines: Market Risk

    Science.gov (United States)

    2012-08-30

    ..., and stress tests. The Pillar 3 changes require banks to disclose certain quantitative and qualitative... modeling purposes, and their internal capital adequacy assessment methodologies. The BCBS began work on... unrated position. Finally, under Basel III: A Global Regulatory Framework for More Resilient Banks and...

  5. Guidelines for Successful Supervision of School District Capital Construction Projects.

    Science.gov (United States)

    New York State Education Dept., Albany. Office of Facilities Planning.

    Successfully completing school district capital construction requires the proper execution of the construction project itself involving the cooperation and understanding by all parties involved. This document presents guidelines that clarify the interrelationships and expected actions on the part of school representatives, the architect or…

  6. Financing Human Capital: Families & Society

    Directory of Open Access Journals (Sweden)

    Neantro Saavedra-Rivano

    2016-10-01

    Full Text Available The Organization for Economic Cooperation and Development (OECD describes human capital as “knowledge, skills, competencies and attributes embodied in individuals that facilitate the creation of personal, social and economic wellbeing.”* It follows from this interpretation that investment in human capital includes the sum of all costs that allow a new being to reach economic autonomy. In this paper we analyze the family and social dimensions of human capital and discuss how decisions on human capital formation are taken and how its associated costs are shared. The discussion leads us to identify an important paradox underlying human capital formation, namely the fact that while families are its main contributors the benefits of such investment go primarily to society as a whole. This paradox and its consequences are central to two very important current issues. The first issue, one that is common to many developed countries, is low female fertility which is the source, in particular, of population aging. The second issue, affecting chiefly developing countries, is the inequality of opportunities, a problem lying at the root of underdevelopment. Two options are discussed to respond to this dilemma, one based on redistributive programs and another on market solutions. The paper discusses the limits inherent to redistributive programs and goes on to present at length the alternative market solution. In a nutshell this consists of securitizing the human capital of individuals so as to finance the expenses leading to their upbringing, from birth to adulthood. In addition to describing this scheme the paper analyzes its advantages as well as the difficulties associated with its implementation. It concludes by exploring possible interpretations of the scheme and feasible routes for its adoption.

  7. Human capital, schooling and health.

    Science.gov (United States)

    Schultz, T Paul

    2003-06-01

    A consensus has been forged in the last decade that recent periods of sustained growth in total factor productivity and reduced poverty are closely associated with improvements in a population's child nutrition, adult health, and schooling, particularly in low-income countries. Estimates of the productive returns from these three forms of human capital investment are nonetheless qualified by a number of limitations in our data and analytical methods. This paper reviews the problems that occupy researchers in this field and summarizes accumulating evidence of empirical regularities. Social experiments must be designed to assess how randomized policy interventions motivate families and individuals to invest in human capital, and then measure the changed wage opportunities of those who have been induced to make these investments. Statistical estimation of wage functions that seek to represent the relationship between wage rates and a variety of human capital stocks may yield biased estimates of private rates of return from these investments for a variety of reasons. The paper summarizes several of these problems and illustrates how data and statistical methods can be used to deal with some of them. The measures of labor productivity and the proxies specified for schooling and adult health are first discussed, and then the functional relationships between human capital and wages are described. Three types of estimation problem are discussed: (1) bias due to omitted variables, such as ability or frailty; (2) bias due to the measurement of an aggregation of multiple sources of human capital, e.g. genetic and socially reproducible variation, which may contribute to different gains in worker productivity; and (3) errors in measurement of the human capital stocks. Empirical examples and illustrative estimates are surveyed.

  8. LABOR AND CAPITAL: OPPOSING SYSTEMS

    Directory of Open Access Journals (Sweden)

    Adrián Sotelo Valencia

    2014-12-01

    Full Text Available During the second half of the twentieth century, and so far this century, there have been major changes such as the disintegration of the Soviet Union, the destruction of the Twin Towers or the current economic crisis sweeping the world from 2008-2009 – to be evaluated in the sense that if they have altered the essence of the capitalist system or only its form, which would rather reaffirmed their basic laws, including the world of work. We favor the latter assessment, since today the social metabolism capital is entirely universal and becomes effective, more than ever, the contradiction between her antogonica eo trabalho capital.

  9. El capital intelectual en Confamdi

    OpenAIRE

    Marulanda Lórez, Paulo César

    2012-01-01

    El “capital intelectual” es uno de los conceptos más difíciles de medir en economía. Por ello, existe un escaso consenso en la doctrina alrededor de cómo han de tratarse conceptualmente los activos intangibles y qué es lo que constituye una medición satisfactoria de los mismos. La abundante literatura acerca del capital intelectual en los últimos años, propone diversos modelos y estudios efectuados sobre esta medición, pero la falta de consenso para abordar el tema y la carencia en l...

  10. CAPITAL SOCIAL, DEMOCRACIA E DESENVOLVIMENTO

    Directory of Open Access Journals (Sweden)

    Luciene Dal Ri

    2011-12-01

    Full Text Available Este artigo apresenta uma revisão critica da literatura sobre a relação entre Capital Social, Democracia e o Desenvolvimento. É relevante refletirmos sobre estes três temas, pois não se consegue ver um distanciamento entre ambos. Todavia, como meio para promover o capital social, o desenvolvimento e a democracia, é necessária que haja uma melhoria do bem-estar social, devendo ser associada com liberdades econômicas e abertura de mercado de modo a viabilizar o crescimento econômico e a melhoria na qualidade de vida da população.

  11. Energy literacy and capitalization

    NARCIS (Netherlands)

    Brounen, Dirk; Kok, N.; Quigley, J.

    2014-01-01

    The residential sector accounts for one-fifth of global energy consumption, resulting from the requirements to heat, cool, and light residential dwellings. It is therefore not surprising that energy efficiency in the residential market has gained importance in recent years. In this paper, we examine

  12. Natural capital in ecology and economics: an overview.

    Science.gov (United States)

    Fenech, Adam; Foster, Jay; Hamilton, Kirk; Hansell, Roger

    2003-01-01

    The Brundtland Commission report, Our Common Future, defined sustainable development as development that meets the needs of the present without compromising the ability of future generations to meet their own needs. Although the idea of sustainable development has been widely accepted, it has proved difficult to identify and implement policies and practices that promote sustainable economic growth. Some economists, environmental scientists and policy analysts believe that they can transform the consensus about sustainability into manageable practices. They propose to accomplish this feat with a set of new ideas about the relationships between the economy and the environment offered under the banner of 'natural capital'. An ideal account of natural capital would be one or more standard measures or models that would allow the direct comparison of environmental goods, like forests, fresh water and clean air, with economic goods, like money, capital and productivity. By bringing economic science and environmental science to an objective common ground, a natural capital model has the potential to provide a concrete means of comparing the economic and ecological costs and benefits of particular policies and programmes. This paper offers a survey and analysis of several new contributions to the formation of the natural capital concept from economists, ecologists, policy analysts, biometricians, foresters and a philosopher. The paper concludes that existing microeconomic theory may be 'ungreenable', if it is not reformulated. While macroeconomic approaches to natural capital have beenmore successful, they share the limitation that ecosystems and species are valued solely in monetary terms. These problems are taken to suggest that the development of a successful natural capital model may require economic theory to be recast to include non-monetary social preferences and values.

  13. 13 CFR 108.640 - Requirement to file portfolio financing reports (SBA Form 1031).

    Science.gov (United States)

    2010-01-01

    ... ADMINISTRATION NEW MARKETS VENTURE CAPITAL (âNMVCâ) PROGRAM Recordkeeping, Reporting, and Examination Requirements for NMVC Companies Reporting Requirements for Nmvc Companies § 108.640 Requirement to...

  14. Capital humano y capacidad humana Human capital and human capacity

    Directory of Open Access Journals (Sweden)

    Sen Amartya Kumar

    1998-12-01

    Full Text Available En este articulo se examinan las relaciones y diferencias entre el concepto de 'capital humano' y el concepto de 'capacidad humana'. El concepto de capital humano es mas limitado puesto que solo concibe las cualidades humanas en su relación con el crecimiento económico mientras que el concepto de capacidades da énfasis a la expansión de libertad humana para vivir el tipo de vida que la gente considera valedera. Cuando se adopta esa visión mas amplia, el proceso de desarrollo no puede verse simplemente como un incremento del PIB sino como la expansión de la capacidad humana para llevar una vida mas libre y mas digna.In this article the relationships and the differences between the concept of 'human capital' and the concept of 'human capability' are examined. The concept of human capital is more limited since it only conceives human qualities in relation to economic growth, whereas the concept of capabili ties puts emphasis on the expansion of human freedom to live the kind of life that people judge valuable. Whenthis broader vision is adopted, the process of development cannot be seen as simply an increase in the GNP, but rather as the expansion of the human capability to live a more free and worthy life.

  15. 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.

  16. 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

  17. Preliminary design of high-power wave-guide/transmission system for multimegawatt CW requirements of 100 MeV proton LINAC

    Indian Academy of Sciences (India)

    Purushottam Shrivastava; Y D Wanmode; P R Hannurkar

    2002-11-01

    Development of a 100 MeV CW proton LINAC has been planned at CAT. This LINAC will be needing CW rf power in the frequency ranges of 350 MHz and 700 MHz for its RFQ and DTL/CCDTL/SFDTL structures respectively. The power to the accelerating structures will be produced by either 1 MW CW or 250 kW CW klystrons/inductive output tubes (HOM IOTs). The power needed by respective feed points in the structure is max. 250 kW which will be powered by splitting the power from 1 MW klystron/klystrode into four channels by using a wave-guide system. In case of using 250 kW tubes the power to the structures will be provided directly from each tube. Two types of wave-guide transmission system have been considered, viz, WR 2300 for 350 MHz rf needs and WR 1500 for 700 MHz rf needs. The typical wave-guide system has been designed using the 1 MW CW klystron followed by wave-guide filter, dual directional coupler, high-power circulator, three 3 dB magic TEE power dividers to split the main channel into four equal channels of 250 kW each. Each individual channel has dual directional couplers, flexible wave-guide sections and high power ceramic vacuum window. The circulator and each power divider is terminated into the isolated ports by high power CW loads. Out of the four channels three channels have phase shifters. Present paper describes the technological aspects and design specifications-considerations for these stringent requirements.

  18. SMEs perspective on venture capital investment criteria - A study of Croatian SMEs

    Directory of Open Access Journals (Sweden)

    Marija Šimić Šarić

    2017-01-01

    Full Text Available The importance of small and medium sized enterprises (SMEs for the economy is indisputable. However, SMEs worldwide, including Croatian ones, have difficulties in accessing financing sources, primarily the alternative ones like venture capital. Seeking venture capital for entrepreneurs is a big challenge because of the absence of unique venture capital investment criteria and investment process. Less than 3% of the entrepreneurs succeed in attracting venture capital. In order to increase the chances of obtaining venture capital in the first phase, this study seeks to explain the required venture capital investment criteria from the perspective of SMEs. To the author’s best knowledge, no studies have to date been undertaken specifically on venture capital investment criteria in Croatia. Final results suggest that that the SME manager/owner (manager/owner of SMEs who seeks to attract venture capital is a male, aged between 35-44, has an BSc academic degree and the company is privately owned. Regarding the profile characteristics, the results show that, looking from the point of the SME manager/owner, goal orientation and hard work are the most important factors for seeking venture capital in the first phase, followed by innovation and reasonable risk-taking.

  19. 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.

  20. 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.

  1. 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.

  2. 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.

  3. Prophetic Best Practices in Business for Human Capital Development

    Directory of Open Access Journals (Sweden)

    Siti Akmar Abu Samah

    2011-12-01

    Full Text Available Human capital has been the most crucial current topic of this modern life. Competition in business and industry requires human resource that spells excellence, knowledgeable, discipline and visionary. With the rise of conscious market-driven community, many have concluded that to achieve the highest stake in business is to simultaneously reconstruct the moral consciousness. Henceforth, learning from past leaders, their legacy has been left with much to be desired by shortcomings, conflicts of interest and at times, destructions. In promoting the virtuous awareness, education has to take the lead through human capital development. In the attempt to apply the landmark practices of Prophet Muhammad (pbuh, and his management principles, this discursive overview intends to provide the application of the prophetic tradition in the management field as the foundation for application in aspects of discipline which include business, law, education, just to state a few. Therefore, this paper intends to study the Islamic management elements of Prophet Muhammad (pbuh by providing insights to the following questions. The first question is, how does human capital development raise moral consciousness in terms of business practices set forth by prophetic tradition? Can current situations apply such emulations of managing human capital and hence, enhance the quality of our life within the family, in the community and for the nation? With the increasingly diverse expectations, management practices and skills of Prophet Muhammad (pbuh contribute to provide the pathway of managing the human capital development presented as answers to the above questions.

  4. Employee Capital:Resource or Reoccurring Nightmare

    OpenAIRE

    Murphy, James Peter

    2005-01-01

    Employee capital need not be a reoccurring nightmare for bar owners if they create a system for managing their employee capital which deals with recruitment, placement, training and development for all hospitality staff members.

  5. 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.

  6. INTELLECTUAL CAPITAL MANAGEMENT – A NEW MODEL

    Directory of Open Access Journals (Sweden)

    Luminita-Maria GOGAN

    2014-12-01

    Full Text Available In order to gain competitive advantage organizations need more efficient use of intellectual capital. Therefore, management of intellectual capital has become one of the functions of growth in companies today. Focus on managing intelectul capital is due to the role intelectula competencies and knowledge in contemporary business which is significant. The most common terms for intellectual capital management functions at the organizational level are competence management and competence development. Managers conduct activities to manage intellectual capital in the need for knowledge on personnel competencies and their development in operative functions. The literature presents a series of intellectual capital management models, most belonging to the researchers in the Nordic countries. The aim of this paper is to developea new model of managing intellectual capital that improve the existing models. Thus, by using the proposed model is expected that the relationship between intellectual capital management and strategy of a company should intensify on medium term.

  7. 12 CFR 615.5220 - Capitalization bylaws.

    Science.gov (United States)

    2010-01-01

    ... retirable at the sole discretion of the board, provided minimum permanent capital adequacy standards... association's funding bank in conjunction with any agreement for a transfer of capital between the...

  8. National Capital Planning Commission Library contents

    Data.gov (United States)

    National Capital Planning Commission — The National Capital Planning Commission library catalog is a compilation of titles, authors, years of publication and topics of books, reports and NCPC publications.

  9. Definition and Content Interpretation of Human Capital

    Directory of Open Access Journals (Sweden)

    Verhoglyadova N. I.

    2006-01-01

    Full Text Available The article is devoted to researching the nature of human capital, its internal structure, comparative characteristics of human capital and other economic categories; factors of its forming under present conditions of transformations in the economy of Ukraine.

  10. Impression management as symbolic capital

    DEFF Research Database (Denmark)

    Lueg, Klarissa; Nielsen, Camilla

    2015-01-01

    Social Network Sites (SNS) play an increasingly important role in the European business world, especially with respect to cross-cultural impression management. Departing from the Bourdieusian concept of “capital,” this paper analyzes the differences in the use of two popular business SNS: XING...

  11. Building Social Capital for Internationalization

    Directory of Open Access Journals (Sweden)

    Suzana Braga Rodrigues

    2012-01-01

    Full Text Available Social capital may be defined as social relationships that confer actual or potential benefits. It can therefore beunderstood as a particular type of resource. Recent research has drawn attention to how connections andrelationships (networking both at home and abroad can be crucially important for small and medium-sizedenterprises (SMEs seeking to export or invest abroad. However, relatively little is known about how SMEsinitiate, develop and maintain network relationships. This paper reports a study of 32 British SMEs exporting, orattempting to export, to Brazil and of domestic institutional agencies whose role was to facilitate businessconducted between British and Brazilian SMEs. The study explored both the functions of social capital for theSMEs and the process whereby it was developed. Its findings confirm the value of social capital in internationalentrepreneurship. It can provide information, interpretation, market opportunities, and some degree of protectionagainst the risks associated with foreignness, newness and smallness. The study also confirms the vitalimportance of personal trust in sustaining social capital between small firms.

  12. States, Social Capital and Cooperation

    DEFF Research Database (Denmark)

    Anthony, Denise L.; Campbell, John L.

    2011-01-01

    in the production of collective goods. We explore two issues that were underdeveloped in her book that have subsequently received much attention. First, we discuss how states can facilitate cooperative behavior short of coercively imposing it on actors. Second, we discuss how social capital can facilitate...

  13. Social Capital and Community Heterogeneity

    Science.gov (United States)

    Coffe, Hilde

    2009-01-01

    Recent findings indicate that more pronounced community heterogeneity is associated with lower levels of social capital. These studies, however, concentrate on specific aspects in which people differ (such as income inequality or ethnic diversity). In the present paper, we introduce the number of parties in the local party system as a more…

  14. Business model and Intellectual Capital

    DEFF Research Database (Denmark)

    Lindgren, Peter; Saghaug, Kristin Margrethe

    2012-01-01

    When practicing business model (BM) innovation releasing intellectual capital (IC) strategically from SME´s BMs through the innovation process can be extremely difficult and complex to carry out especially to small and medium size enterprises (SME). There are so many opportunities and resources...

  15. Social capital and community heterogeneity

    NARCIS (Netherlands)

    Coffé, Hilde R.

    2009-01-01

    Abstract Recent findings indicate that more pronounced community heterogeneity is associated with lower levels of social capital. These studies, however, concentrate on specific aspects in which people differ (such as income inequality or ethnic diversity). In the present paper, we introduce the

  16. School Cheating and Social Capital

    Science.gov (United States)

    Paccagnella, Marco; Sestito, Paolo

    2014-01-01

    In this paper we investigate the relationship between social capital and cheating behaviour in standardized tests. Given the low-stakes nature of these tests, we interpret the widespread presence of cheating as a signal of low trust towards central education authorities and as lack of respect for the rule of law. We find that cheating is…

  17. Real Assets and Capital Structure

    NARCIS (Netherlands)

    Campello, M.; Giambona, E.

    2013-01-01

    We characterize the relation between asset structure and capital structure by exploiting variation in the salability of corporate assets. To establish this link, we distinguish across different assets in firms’ balance sheets (machinery, land, and buildings) and use an instrumental approach that

  18. TOWARDS THE CAPITAL MARKET UNION

    Directory of Open Access Journals (Sweden)

    Iulian PANAIT

    2015-06-01

    Full Text Available This paper discusses the main characteristics of the proposed Capital Markets Union in Europe, as they are introduced by the European Commission and various authors, and emphasises some important advantages and disadvantages of this project for the developing and frontier markets in UE, especially for Romania.

  19. THE INTELLECTUAL CAPITAL OF UNIVERSITIES

    Directory of Open Access Journals (Sweden)

    Bratianu Constantin

    2009-05-01

    Full Text Available The purpose of this paper is to present some of our research results concerning the intellectual capital of universities. This is an important topic of the intellectual research area since universities are knowledge intensive organizations. They contain b

  20. Capital Punishment: An International Perspective.

    Science.gov (United States)

    Kaufman, Edy

    1983-01-01

    The debate over the death penalty in the United States has implications beyond our borders. Because of the lack of universal standards governing its use, only those countries which have abolished capital punishment may, with any moral authority, denounce its exploitation as an instrument of political expediency. (IS)

  1. School Cheating and Social Capital

    Science.gov (United States)

    Paccagnella, Marco; Sestito, Paolo

    2014-01-01

    In this paper we investigate the relationship between social capital and cheating behaviour in standardized tests. Given the low-stakes nature of these tests, we interpret the widespread presence of cheating as a signal of low trust towards central education authorities and as lack of respect for the rule of law. We find that cheating is…

  2. Social Capital and Savings Behaviour

    DEFF Research Database (Denmark)

    Newman, Carol; Tarp, Finn; Van Den Broeck, Katleen

    We explore the extent to which social capital can play a role in imparting information about the returns to saving where potential knowledge gaps and mistrust exists. Using data from Vietnam we find strong evidence to support the hypothesis that information transmitted via reputable social...

  3. Real Assets and Capital Structure

    NARCIS (Netherlands)

    Campello, M.; Giambona, E.

    2013-01-01

    We characterize the relation between asset structure and capital structure by exploiting variation in the salability of corporate assets. To establish this link, we distinguish across different assets in firms’ balance sheets (machinery, land, and buildings) and use an instrumental approach that inc

  4. Social Capital. Trust and Ideology

    Directory of Open Access Journals (Sweden)

    Jacek TITTENBRUN

    2013-06-01

    Full Text Available The paper offers a critical analysis of the central concept around which the popular construct of social capital is organised, i.e. trust. To this end the views of Fukuyama, the leading exponent of the said concept are considered. As a result, the concept in question is found to be ideologically charged and substantively weak in many respects.

  5. Productivity spillovers of organization capital

    NARCIS (Netherlands)

    Chen, Wen; Inklaar, Robert

    Investments in organization capital increase productivity of not just the investing firm but could also spillover to other firms-similar to investments in research and development. Recent evidence at the industry and economy level suggests such spillovers could be important. In this paper, we fail

  6. Varieties of capitalism in crisis?

    DEFF Research Database (Denmark)

    Bruff, Ian; Horn, Laura

    2012-01-01

    In this introduction to the special issue, we provide a brief overview of the two distinct but connected meanings of the phrase ‘varieties of capitalism in crisis’: (1) the crisis of empirical political economies under conditions of capitalist diversity; and (2) the crisis of the institutionalist...

  7. Capital productivity and the nature of competition

    OpenAIRE

    Börsch-Supan, Axel

    1997-01-01

    This paper measures capital productivity in West Germany, Japan and the United States and links capital productivity to financial performance. We show that West Germany and Japan have significantly lower levels of capital productivity than the United States, mainly due to lower capital utilization but also because less productive capacity was created per unit of physical assets. On a higher level of causality, we show that this mainly comes from less pressure from product market competition a...

  8. CRISIS FOCUS:Alert Over Capital Inflow

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    @@ Emerging Asia's capital markets have posted rapid gains as the pace of economic recovery in the region has increased,drawing massive investment from overseas.Governments in emerging Asia should remain vigilant and be ready to act if volatile capital inflows threaten to destabilize the region's financial markets,said the Asia Capital Markets Monitor,Asian Development Bank's annual assessment of the performance and outlook for the region's capital markets released on May18.Edited excerpts follow:

  9. 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...

  10. 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...

  11. 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. 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…

  13. The Political Economy of Capital Reallocation

    NARCIS (Netherlands)

    M. Bersem; E. Perotti; E.L. von Thadden

    2013-01-01

    In this paper we develop a positive theory of capital market frictions. We focus on a political conflict that arises between citizens with different vintages of human capital. Once human capital is sunk in a firm- or sector specific technology, stakeholders will resist the emergence of newer sectors

  14. 12 CFR 615.5200 - Capital planning.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Capital planning. 615.5200 Section 615.5200 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM FUNDING AND FISCAL AFFAIRS, LOAN POLICIES AND OPERATIONS, AND FUNDING OPERATIONS Capital Adequacy § 615.5200 Capital planning. (a) The Board...

  15. 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...

  16. The Maastricht gigantomachy capital and its models

    NARCIS (Netherlands)

    T.A.S.M. Panhuysen

    2009-01-01

    In this article a figured pillar capital with gigantomachy scenes will be discussed. This unique capital represents an iconographic curiosity with its gigantomachy representations on two opposite sides of the square block. Apollo and Moira are represented. The capital must date from the second quart

  17. Human Capital Development: A Family Objective.

    Science.gov (United States)

    Hildebrand, Verna

    1995-01-01

    Examines the concept of human capital as an economic construct. Suggests that human capital contributes to economic development, as do physical capital or natural resources, in that its development reinforces individuals' future economic output. Suggests that this perspective may prove useful for human service professionals because funding…

  18. 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…

  19. Measuring Social Capital Accumulation in Rural Development

    Science.gov (United States)

    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,…

  20. 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…

  1. Building Social Capital through Outdoor Education

    Science.gov (United States)

    Beames, Simon; Atencio, Matthew

    2008-01-01

    Over the last 15 years, the body of literature surrounding the subject of social capital has witnessed steady growth. While sociologists have extensively discussed how social capital can be created and sustained within local communities and national contexts, there is little evidence of the social capital discourse within the outdoor education…

  2. 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 capitalism…

  3. Venture Capital Initiative: Ohio's School Improvement Effort.

    Science.gov (United States)

    Yoo, Soonhwa; Loadman, William E.

    In 1994 the Ohio State Legislature established Venture Capital to support school restructuring. The Venture Capital school initiative is a concept borrowed from the business community in which the corporate entity provides risk capital to parts of the organization to stimulate creative ideas and to provide opportunities for local entities to try…

  4. 47 CFR 69.310 - Capital leases.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 3 2010-10-01 2010-10-01 false Capital leases. 69.310 Section 69.310 Telecommunication FEDERAL COMMUNICATIONS COMMISSION (CONTINUED) COMMON CARRIER SERVICES (CONTINUED) ACCESS CHARGES Apportionment of Net Investment § 69.310 Capital leases. Capital Leases in Account 2680 shall be...

  5. 47 CFR 32.4510 - Capital stock.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 2 2010-10-01 2010-10-01 false Capital stock. 32.4510 Section 32.4510... FOR TELECOMMUNICATIONS COMPANIES Instructions for Balance Sheet Accounts § 32.4510 Capital stock. (a... received for capital stock issued and outstanding. (b) Subsidiary records shall be maintained so as to...

  6. 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…

  7. Social capital in involuntary displacement and resettlement

    NARCIS (Netherlands)

    Navarra, M.Q.; Niehof, A.; Vaart, van der W.

    2013-01-01

    Social capital is often seen as a substitute for lack of other types of capital among poor people. Because of the recognized applicability of the social capital concept and its correlation with the different dimensions of poverty, it has been used in evaluating the adaptation and integration of invo

  8. 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…

  9. Measuring Social Capital Accumulation in Rural Development

    Science.gov (United States)

    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,…

  10. Is Social Capital an Effective Smoke Condenser?

    DEFF Research Database (Denmark)

    Paldam, M.; Svendsen, Gert Tinggaard

    1999-01-01

    Social capital is defined as mutual trust. It is related to production by a key hypothesis: social capital determines how easily people work together. An easy-to-use proxy (Putnam's Instrument) is the density of voluntary organizations. Social capital might be a new production factor which must b...

  11. 78 FR 1991 - Major Capital Investment Projects

    Science.gov (United States)

    2013-01-09

    ... Capital Investment Projects; Notice of Availability of Proposed New Starts and Small Starts Policy... Part 611 RIN 2132-AB02 Major Capital Investment Projects AGENCY: Federal Transit Administration (FTA... implementation of the major capital investment program, primarily by giving the project justification criteria...

  12. Heterogeneity of Human Capital and the Return

    DEFF Research Database (Denmark)

    Madsen, Erik Strøjer

    2015-01-01

    Human capital is an important growth factor for developing and developed countries and measuring the return to education is essential in evaluating the growth impact from human capital. Most studies use the length of education measured by the years of schooling as an indicator of human capital...

  13. Information Capital and Organization's Strategy Alignment

    OpenAIRE

    Maja Djukic; Jovica Stankovic

    2005-01-01

    In digital economy very important role has information capital which produce numerous benefits and costs for organizations. But, organization capital creates grate value in an organization only if it is aligned with organization strategy. So, main management problem is being able to make alignment of information capital and organization strategy

  14. Building ambidextrous organizations through intellectual capital: a proposal for a multilevel model

    Directory of Open Access Journals (Sweden)

    Susana Fernández-Pérez de la Lastra

    2017-08-01

    Full Text Available Purpose: This paper proposes an alternative theoretical model to describe, from a multilevel perspective, the way in which ambidexterity is built across different organizational levels, through specific combinations of the facets of intellectual capital—human, social and organizational capital. Design/methodology/approach: In this study, main arguments from intellectual capital, strategic human resource management (SHRM and multilevel literature are integrated. The intellectual capital literature provides our model with the input (human capital, mechanisms (social capital and the infrastructure (organizational capital required to create ambidextrous capabilities; the multilevel perspective reveals the context in which ambidexterity is reached, and the strategic human resource management literature provides the model with the specific mechanisms (policies and practices and conditions required by ambidexterity (HRM flexibility and horizontal fit. Findings: Although the literature widely recognizes ambidexterity as a potential source of sustainable competitive advantage, the processes by which organizations complement exploration and exploitation activities still remain unclear. This study sheds some light on the analysis of these complex dynamics, explaining how ambidextrous capabilities can arise from different alternative combinations of human, social and organizational capital. Originality/value: The paper expands the extant literature in the field, describing different paths to achieving organizational ambidexterity. The configurational approach adopted adds value to the proposed model, as it helps to explaining alternative synergistic mixes of ambidextrous intellectual capital at different organizational levels.

  15. 12 CFR 615.5136 - Emergencies impeding normal access of Farm Credit banks to capital markets.

    Science.gov (United States)

    2010-01-01

    ... Investment Management § 615.5136 Emergencies impeding normal access of Farm Credit banks to capital markets... subpart; and/or (b) Modifies or waives the liquidity reserve requirement in § 615.5134 of this subpart. ...

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

    Science.gov (United States)

    Chen, Xinguang; Wang, Peigang; Wegner, Rhiana; Gong, Jie; Fang, Xiaoyi; Kaljee, Linda

    2015-02-01

    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.

  17. 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

  18. Agrofuels capitalism: a view from political economy.

    Science.gov (United States)

    White, Ben; Dasgupta, Anirban

    2010-01-01

    This article considers the global expansion of agrofuels feedstock production from a political economy perspective. It considers and dismisses the environmental and pro-poor developmental justifications attached to agrofuels. To local populations and direct producers, the specific destination of the crop as fuel, food, cosmetics or other final uses in faraway places is probably of less interest than the forms of (direct or indirect) appropriation of their land and the forms of their insertion or exclusion as producers in global commodity chains. Global demand for both agrofuels and food is stimulating new forms (or the resurgence of old forms) of corporate land grabbing and expropriation, and of incorporation of smallholders in contracted production. Drawing both on recent studies on agrofuels expansion and on the political economy literature on agrarian transition and capitalism in agriculture, this article raises the question whether "agrofuels capitalism" is in any way essentially different from other forms of capitalist agrarian monocrop production, and in turn whether the agrarian transitions involved require new tools of analysis.

  19. A Model of Optimal Allocations of Physical Capital and Human Capital in Three Sectors

    Institute of Scientific and Technical Information of China (English)

    ZHOU Shaobo; XUE Minggao

    2007-01-01

    The paper develops an endogenous economic growth model about allcation of physical and human capital in three sectors. Optimal allocation of physical capital and human capital in three sectors is derived, the fraction of physical and human capital in each sector is positively related. The balanced values and the growth rates at steady state are given under certain conditions.Finally relations between the fractions of human capital and parameters are analyzed elaborately.

  20. 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

  1. 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...

  2. Sobre el capital erótico como capital cultural

    Directory of Open Access Journals (Sweden)

    Moreno Pestaña, José Luis

    2016-03-01

    Full Text Available Social theory is trying, increasingly, to reach an agreement on the body place. Particularlly, the Catherine Hakim’s thesis about erotic capital has brought to the foreground the value of the body within contemporary social hierarchies. The Hakim’s questions are connected with another set of conceptualizations that try to understand the value of the physical interaction in our societies. The first aim of this article is to discuss the model proposed by Hakim on the light of the explanatory capacity of Pierre Bourdieu’s cultural capital theory. As a second goal we wish, enlightened by a set of empirical data, to confirm if it is possible to note down links between body care, social class, age class and gender.La teoría social sigue acordando, de manera creciente, un espacio al cuerpo. Señaladamente, las tesis sobre el capital erótico de Catherine Hakim han puesto en primer plano el valor del cuerpo dentro de las jerarquías sociales contemporáneas. Las interrogaciones de Hakim resultan solidarias con otro conjunto de conceptualizaciones que intentan comprender el valor de la interacción corporal en nuestras sociedades. Discutir el modelo propuesto por Hakim a la luz de la capacidad explicativa de la teoría del capital cultural de Pierre Bourdieu es el primer objetivo de este artículo. El segundo objetivo pretende, utilizando un conjunto de datos empíricos, confirmar si pueden apuntarse vínculos entre los cuidados corporales, la clase social, la clase de edad y el género.

  3. Social capital: its constructs and survey development.

    Science.gov (United States)

    Enfield, Richard P; Nathaniel, Keith C

    2013-06-01

    This article reports on experiences and methods of adapting a valid adult social capital assessment to youth audiences in order to measure social capital and sense of place. The authors outline the process of adapting, revising, prepiloting, piloting, and administering a youth survey exploring young people's sense of community, involvement in the community, and the development of social capital. They then discuss the trade-offs of defining the often amorphous concepts included in social capital as they select measurement scales. The constructs used in the survey are agency, belonging, engagement, and trust for bonding, bridging, and linking forms of social capital.

  4. Social Capital, Economic Growth and Transition Economies

    DEFF Research Database (Denmark)

    Svendsen, Gert Tinggaard

    1998-01-01

    transactions to take place without third-party enforcement. Theory and lessons from empirical evidence lead to three general recommendations for building social capital in the future: First, the state must withdraw and minimize its role in the economy so to leave room for voluntary organization and free......Summary: What does social capital mean and how can it be 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...

  5. Does cultural capital really affect academic achievement?

    DEFF Research Database (Denmark)

    Jæger, Mads Meier

    2011-01-01

    This paper provides new estimates of the causal effect of cultural capital on academic achievement. The author analyzes data from the National Longitudinal Survey of Youth – Children and Young Adults and uses a fixed effect design to address the problem of omitted variable bias which has resulted...... cultural mobility theory (cultural capital more important in low-SES environments) for indicators capturing “concerted cultivation.”...... previously reported; and (3) the effect of cultural capital varies in high- and low-SES environments. Results mostly support cultural reproduction theory (cultural capital more important in high-SES environments) for cultural capital indicators capturing familiarity with legitimate culture and mostly support...

  6. 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.

  7. Percutaneous renal puncture: requirements and preliminary results

    CERN Document Server

    Leroy, A; Payan, Y; Richard, F; Chartier-Kastler, E; Troccaz, J; Leroy, Antoine; Mozer, Pierre; Payan, Yohan; Chartier-Kastler, Emmanuel; Troccaz, Jocelyne

    2002-01-01

    This paper introduces the principles of computer assisted percutaneous renal puncture, that would provide the surgeon with an accurate pre-operative 3D planning on CT images and, after a rigid registration with space-localized echographic data, would help him to perform the puncture through an intuitive 2D/3D interface. The whole development stage relied on both CT and US images of a healthy subject. We carried out millimetric registrations on real data, then guidance experiments on a kidney phantom showed encouraging results.

  8. 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…

  9. Is Social Capital an Effective Smoke Condenser?

    DEFF Research Database (Denmark)

    Paldam, M.; Svendsen, Gert Tinggaard

    1999-01-01

    Social capital is defined as mutual trust. It is related to production by a key hypothesis: social capital determines how easily people work together. An easy-to-use proxy (Putnam's Instrument) is the density of voluntary organizations. Social capital might be a new production factor which must...... be added to human and physical capital, or it might enter as a reduction in either transaction or monitoring costs. A direct and an indirect way to measure social capital are discussed. The crucial question is if social capital can be changed. That is, if self enforcement can replace third party...... enforcement, and it is discussed how much harm totalitarian regimes do to social capital, when they expand their area of central control....

  10. PENGEMBANGAN HUMAN CAPITAL DALAM KONTEKS MODAL SOSIAL

    Directory of Open Access Journals (Sweden)

    Widodo Widodo

    2017-03-01

    Full Text Available Rural Banks/BPR have a vitality and sustainability of business if they are able to create a unique advantagethat is superior in terms of customer information and business environment surrounding besides functioningas an intermediary institution. But in Semarang credit quality is still in the high risk level that is above themaximum limit of 5%. The condition is caused by the integration of human capital and social capital that isnot optimal. Therefore, this article aims to examine the model of human capital development so that it canimprove the performance of organization within the context of social capital. Retrieval method uses purposivesampling with 120 total samples. Later analysis technique uses Structural Equation Modelling (SEM throughthe group management data which is processed based on high and low social capital. The study shows that thecontext of high social capital moderates the structure of the equation that affects human capital on organizationalperformance

  11. The Case for Capitation.

    Science.gov (United States)

    James, Brent C; Poulsen, Gregory P

    2016-01-01

    Recent studies suggest that at least 35%--and maybe over 5o%--of all health care spending in the U.S. is wasted on inadequate, unnecessary, and inefficient care and suboptimal business processes. But efforts to get rid of that waste face a huge challenge: Under current payment methods, the providers who develop more-cost-effective approaches don't receive any of the savings. Instead, the money goes mainly to insurers. The providers, who are paid for the volume of services delivered, end up actually losing money, which undermines their finances and their ability to invest in more cost-saving innovations. To address this quandary, say two top execs from the nonprofit Intermountain Healthcare system, we need a different way to pay for health care: population-based payment. PBP gives care delivery groups a fixed per-person payment that covers all of an individual's health care services in a given year. Under it, providers benefit from the savings of all efforts to attack waste, encouraging them to do it more. And though PBP may sound similar to the HMOs of the 1990s, there are significant twists: Payments go directly to care delivery groups, and patients' physicians--not insurance companies--assume responsibility for overseeing and managing the cost of treatment. Provider groups are also required to meet quality standards that further protect patients. By applying PBP in just part of its system, Intermountain, which serves 2 million people, has been able to chop $688 million in annual waste and bring total costs down 13%.

  12. Ethics, Intellectual Capital & Knowledge Management

    Directory of Open Access Journals (Sweden)

    José Manuel Saíz Álvarez

    2012-08-01

    Full Text Available Rev.esc.adm.neg Resultado del proceso de globalización económica actual, unido al inicio de la denominada «Primera Crisis Global (PCG, cada vez es mayor la importancia del capital intelectual en las organizaciones, tanto por las ventajas competitivas que genera para la organización, como por permitir que la empresa pueda lograr posiciones de liderazgo sostenible en el tiempo. Dicho capital intelectual se inserta dentro de las organizaciones siguiendo una doble perspectiva basada en la ética y en la gestión del conocimiento. El objetivo de este trabajo es analizar cuáles son las bases que, desde una gestión del conocimiento basado en la ética aplicada a la empresa, permiten construir organizaciones líderes en el mercado global.

  13. Capital Markets Union for Europe

    DEFF Research Database (Denmark)

    Ringe, Georg

    2015-01-01

    The merits of the “Capital Markets Union” project lie with its political importance, rather than its legal coherence or significance. Despite a number of substantial flaws, the initiation of this project comes at the right time. The Commission first and foremost sends a political message to the U...... and other non-Euro Member States, as well as a commitment to the Single Market.......The merits of the “Capital Markets Union” project lie with its political importance, rather than its legal coherence or significance. Despite a number of substantial flaws, the initiation of this project comes at the right time. The Commission first and foremost sends a political message to the UK...

  14. Academic Words and Academic Capitalism

    Directory of Open Access Journals (Sweden)

    Michael Billig

    2013-03-01

    Full Text Available This paper suggests that it is the best and worst of times for academic work. It is the best of times because there are more academics publishing than ever before. It is the worst of times because there is much unnecessary publication. Working in the competitive conditions of academic capitalism, academics feel impelled to keep publishing, whether or not they have anything to say. The pressures to publish continually and to promote one’s own approach are reflected in the way that social scientists are writing. Academics use a noun-based technical language, which is less precise than ordinary language. Postgraduates are taught this way of writing as a precondition for entering the social sciences. In this way, the nature of academic capitalism not only determines the conditions under which academics are working but it affects the way that they are writing.

  15. MAPPING EUROPEAN CAPITAL MARKETS TENDENCIES

    Directory of Open Access Journals (Sweden)

    Andreea Avadanei

    2011-01-01

    Full Text Available The scope of this paper is to analyze the main tendencies influencing European capitalmarkets development. In order to point out their implications, we structured our study onfour chapters. The first one illustrates the consolidation of stock exchanges at the Europeanlevel; the seconds presents some considerations about the deregulation/re-regulation of EUcapital markets; the third section highlights the globalization implications on their evolutionand the fourth one indicates the effects of financial innovation. The progressive integrationof European capital markets over the past decade contributed to the lowering of capital costas a result of increased risk diversification opportunities and reduced transaction costs dueto the specialization of financial system provisions. Moreover, the expansion of thesemarkets improved firms financing decisions, leading to an increased share of non-bankfunding sources.

  16. INTERDEPENDENCE OF INTERNATIONAL CAPITAL MARKETS

    Directory of Open Access Journals (Sweden)

    Suzana Baresa

    2014-06-01

    Full Text Available World financial centers have an impact on the economies around the world. This particularly applies for the U.S. equity market. Transactions which are performed on the U.S. market define market trends in most of the world's financial markets, the only question that arises “is to what extent”. Purpose of this research is to define and quantify the relationship of the U.S. capital markets, and market equity securities selected on world stock markets. This research will explain the concept of capital markets, its divisions and legislation. The research part is based on quantifying relationship of the U.S. equity market index on the indices of the London Stock Exchange, the Tokyo Stock Exchange and the Zagreb Stock Exchange.

  17. Human Capital and Organizational Effectiveness

    Directory of Open Access Journals (Sweden)

    Ioana Julieta Josan

    2013-05-01

    Full Text Available The new organizational changes caused by social, economic and politic reforms led to a shift in the strategic management of the companies. The growing need for professionals, who know how to generate profits, is growing and increase confidence of partners and clients, find new ideas and adapt to a dynamic market. Therefore, internally, we need an efficient management of human resources to find and retain the most suitable and efficient people which will increase productivity and face the increased acting globally competition. Currently, companies that succeed are the ones that integrate in their business strategy, an important component of development and valuation human capital. The paper aims to analyze and highlight the importance of human capital in the new organizational strategies, focused on achieving a high level of competitiveness, innovation and excellence.

  18. From Finance Capitalism to Financialization

    DEFF Research Database (Denmark)

    Hansen, Per H.

    2014-01-01

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

  19. Share capitalism and worker wellbeing().

    Science.gov (United States)

    Bryson, Alex; Clark, Andrew E; Freeman, Richard B; Green, Colin P

    2016-10-01

    We show that worker wellbeing is determined not only by the amount of compensation workers receive but also by how compensation is determined. While previous theoretical and empirical work has often been preoccupied with individual performance-related pay, we find that the receipt of a range of group-performance schemes (profit shares, group bonuses and share ownership) is associated with higher job satisfaction. This holds conditional on wage levels, so that pay methods are associated with greater job satisfaction in addition to that coming from higher wages. We use a variety of methods to control for unobserved individual and job-specific characteristics. We suggest that half of the share-capitalism effect is accounted for by employees reciprocating for the "gift"; we also show that share capitalism helps dampen the negative wellbeing effects of what we typically think of as "bad" aspects of job quality.

  20. Capital budgeting practices in Spain

    Directory of Open Access Journals (Sweden)

    Pablo de Andrés

    2015-01-01

    Full Text Available This paper seeks to shed further light on the capital budgeting techniques used by Spanish companies. Our paper posits that the gap between theory and practice might be related to the nature of sources of value and to the efficiency of mechanisms aligning managerial and shareholder incentives, rather than to resource restrictions or model misinterpretation. We analyze data from a survey conducted in 2011, the final sample comprising 140 non-financial Spanish firms. Our findings show a behaviour pattern similar to that reported in prior research for firms in other countries. Particularly noteworthy is that payback appears to be the most widely used tool, while real options are used relatively little. Our results confirm that size and industry are related to the frequency of use of certain capital budgeting techniques. Further, we find that the relevance of growth opportunities and flexibility is an important factor explaining the use of real options.

  1. 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)

  2. Human Capital, Fertility and Growth

    OpenAIRE

    Galor, Oded

    2006-01-01

    The demographic transition that swept the world in the past 140 years has been identified as one of the prime forces in the transition from stagnation to growth. The unprecedented increase in population growth during the early stages of industrialization was ultimately reversed. The rise in the demand for human capital in the second phase of industrialization brought about a significant reduction in fertility rates and population growth in various regions of the world, enabling economies to c...

  3. Do Central Banks Need Capital?

    OpenAIRE

    Peter Stella

    1997-01-01

    Central banks may operate perfectly well without capital as conventionally defined. A large negative net worth, however, is likely to compromise central bank independence and interfere with its ability to attain policy objectives. If society values an independent central bank capable of effectively implementing monetary policy, recapitalization may become essential. Proper accounting practice in determining central bank profit or loss and rules governing the transfer of the central bank’s ope...

  4. Firearm prevalence and social capital.

    Science.gov (United States)

    Hemenway, D; Kennedy, B P; Kawachi, I; Putnam, R D

    2001-10-01

    Previous studies have shown a correlation between measures of social capital and morbidity, mortality, and violent crime. This article examines the association across U.S. states between social capital (as measured by mutual trust and civic engagement) and firearm availability. The analysis uses OLS to determine degrees of association across U.S. states. Measures of mutual trust come from responses to questions on the U.S. General Social Survey that "you can't be too careful in dealing with people," and most people "would try to take advantage of you." Measures of formal civic engagement come from responses to Lifestyle Survey questions concerning times volunteered, club meetings attended, community projects worked on, and church services attended. Informal civic engagement measures come from responses to number of times bowled, played cards, entertained at home, and gave or attended dinner parties, and number of greeting cards sent. The Lifestyle Survey also asked whether respondent believed whether "most people are honest." The percentage of suicides from firearms, and the average percentage of suicides and homicides from firearms, are used as proxies for state firearm ownership rates. Control variables are the degree of urbanization, the rates of poverty, and the percentage of nonwhites in the state. Across the U.S. states, higher levels of firearm ownership are associated with significantly lower levels of mutual trust and civic engagement. While the analysis cannot show causation, states with heavily armed civilians are also states with low levels of social capital.

  5. The Opportunity Cost of Capital

    Directory of Open Access Journals (Sweden)

    Ayman Chit PhD

    2015-04-01

    Full Text Available The opportunity cost of the capital invested in pharmaceutical research and development (R&D to bring a new drug to market makes up as much as half the total cost. However, the literature on the cost of pharmaceutical R&D is mixed on how, exactly, one should calculate this “hidden” cost. Some authors attempt to adopt models from the field of finance, whereas other prominent authors dismiss this practice as biased, arguing that it artificially inflates the R&D cost to justify higher prices for pharmaceuticals. In this article, we examine the arguments made by both sides of the debate and then explain the cost of capital concept and describe in detail how this value is calculated. Given the significant contribution of the cost of capital to the overall cost of new drug R&D, a clear understanding of the concept is critical for policy makers, investors, and those involved directly in the R&D.

  6. Capital social en empresas familiares

    Directory of Open Access Journals (Sweden)

    Magda Jiménez

    2011-01-01

    Full Text Available Este artículo está dirigido a caracterizar la dinámica de la gestión del capital social en empresas familiares ubicadas en Santa Ana de Coro, municipio Miranda del estado Falcón. Para ello se llevó a cabo un estudio de campo de tipo descriptivo, mediante el uso de la técnica de la encuesta, siendo la modalidad utilizada el cuestionario, con el interés de obtener datos e información directamente de las 08 empresas familiares que funcionan en este municipio. De esta manera se conoció que en las empresas familiares del municipio Miranda, el capital social representa significativamente una de las características conducentes a la sociabilidad y confianza entre los miembros de las familias conductoras de las organizaciones y los empleados no miembros de familia; y es precisamente esta dinámica la razón por la cual el capital social se convierte en un trascendental recurso para las empresas, permitiendo el acceso a otros recursos e impulsando la participación de todos los que hacen vida en la organización, y por ende el crecimiento y desarrollo económico se hace evidente, estimulando en los empleados el sentido de pertenencia, confianza, compromiso y reciprocidad, generando beneficios para la red de demandantes y consumidores.

  7. Slipped capital femoral epiphysis in down syndrome.

    Science.gov (United States)

    Dietz, Frederick R; Albanese, Stephen A; Katz, Danielle A; Dobbs, Matthew B; Salamon, Peter B; Schoenecker, Perry L; Sussman, Michael D

    2004-01-01

    Slipped capital femoral epiphysis (SCFE) and Down syndrome are both uncommon in the population at large, and rarely are both conditions present in a single individual. Institutional records were searched for both Down syndrome and SCFE. At least 2 years of follow-up was required. Eight patients were identified. At presentation four patients could not walk due to pain and four could walk. Six of eight hips presented with grade III SCFE. Four hips were treated with internal fixation in situ and four were manipulatively reduced in the operating room at the time of fixation with percutaneous screws or pins. Three hips healed uneventfully. Five hips developed aseptic necrosis (three partial, two whole head). This small retrospective study suggests an extremely high rate of complications in adolescents with Down syndrome and SCFE.

  8. 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.

  9. 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.

  10. Preliminary design data package. Appendix C

    Energy Technology Data Exchange (ETDEWEB)

    1979-07-25

    The design requirements, design philosophy, method and assumptions, and preliminary computer-aided design of the Near-Term Hybrid Vehicle including its electric and heat power units, control equipment, transmission system, body, and overall vehicle characteristics are presented. (LCL)

  11. 49 CFR 639.11 - Lease qualification requirements.

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 7 2010-10-01 2010-10-01 false Lease qualification requirements. 639.11 Section... ADMINISTRATION, DEPARTMENT OF TRANSPORTATION CAPITAL LEASES Requirements § 639.11 Lease qualification requirements. (a) A lease may qualify for capital assistance if it meets the following criteria: (1)...

  12. Social Capital Impact On Service Supply Chains

    Directory of Open Access Journals (Sweden)

    Sherry L. Avery

    2011-05-01

    Full Text Available Purpose – This study explores the impact of social capital on service firm supply chains.Design/methodology/approach – The theoretical underpinnings of social capital is reviewed from various disciplines, including sociology, management, and operations management.  This is used to develop a conceptual model of the use of social capital in a service supply chain setting.Findings - Social capital is proposed to improve the operational performance of service firms as a source of both physical and information resources.    The impact of social capital is projected to vary by firm size and service type.  Small firms have limited resources and thus a need for resources obtained through social capital.  Service firms that have high customization and customer contact are subject to process variations which can be mitigated by social capital.  A conceptual model is presented to test several propositions related to social capital.Originality/value – The impact of social capital has not been widely studied in an operational setting.  This is the first known study to specifically analyze the impact of social capital in service supply chains.

  13. 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.

  14. 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.

  15. Capital investment as a basis for innovative enterprises’ capacity development

    Directory of Open Access Journals (Sweden)

    V.V. Shekman

    2013-03-01

    Full Text Available The aim of the article. The purpose of the article is to study the matter of investment in fixed capital of Ukraines enterprises as a basis of country innovation development and to determine the role of fixed capital investments in innovative development providing.The results of the analysis. In the article the structure and the volume of foreign investments attracting to the national economy of Ukraine during 2003-2012 are analyzed. It is determined that in spite of annual positive foreign investments volume growth in compare to the previous year the dynamic shows the investment climate deterioration because of the investment runoff. The determined trends show the problem in providing a countrys sunstainable economic development in the innovative aspect. The basis of the countrys innovative development is the investment activation into the enterprises fixed capital. The economic activity of the subjects of economy and the level of their competitiveness in domestic and foreign markets are determined by the essential level of fixed capital funds. They are the basis of the enterprise productive process. According to the analysis Ukrainian enterprises have a high level of fixed capital consumption. The rate of investments aimed to renovate fixed capital is too small. The volumes of fixed capital funds renovation and reproduction financing at the domestic enterprises reduced according to the reduction production volume and joint profits. The main source of fixed capital funds reproduction at the industrial enterprises of Ukraine is the main financial assets of the enterprise. The catastrophic lack of internal and external funds was the reason why heads of enterprises refused to implement new innovative projects and carry out all required actions on calling in accumulated credit obligations to the counteragents.Investment increasing will make it possible to renew enterprises fixed capital funds, to reorganize the coproduction and to balance the

  16. Water supply and wastewater disposal in Sana'a, Capital City of Yemen

    Energy Technology Data Exchange (ETDEWEB)

    Weidner, J.; Benzinger, S. [CONSULAQUA Hamburg Beratungsgesellschaft mbH (Germany)

    2001-10-01

    Water resources in and for Sana'a, Capital City of Yemen, are scarce due to low annual rainfall, small amounts of natural replenishment, and high evaporation. There is currently no integrated water resources management plan. Strong efforts towards water recycling and saving actions are started by investigating reuse of effluent from existing Wastewater Treatment Plant. Solutions and measures on preliminary design base have been explained. Additional actual studies on groundwater recharge are mentioned. (orig.)

  17. How Do Social Capital and HIV/AIDS Outcomes Geographically Cluster and Which Sociocontextual Mechanisms Predict Differences Across Clusters?

    Science.gov (United States)

    Ransome, Yusuf; Dean, Lorraine T; Crawford, Natalie D; Metzger, David S; Blank, Michael B; Nunn, Amy S

    2017-09-01

    Place of residence has been associated with HIV transmission risks. Social capital, defined as features of social organization that improve efficiency of society by facilitating coordinated actions, often varies by neighborhood, and hypothesized to have protective effects on HIV care continuum outcomes. We examined whether the association between social capital and 2 HIV care continuum outcomes clustered geographically and whether sociocontextual mechanisms predict differences across clusters. Bivariate Local Moran's I evaluated geographical clustering in the association between social capital (participation in civic and social organizations, 2006, 2008, 2010) and [5-year (2007-2011) prevalence of late HIV diagnosis and linkage to HIV care] across Philadelphia, PA, census tracts (N = 378). Maps documented the clusters and multinomial regression assessed which sociocontextual mechanisms (eg, racial composition) predict differences across clusters. We identified 4 significant clusters (high social capital-high HIV/AIDS, low social capital-low HIV/AIDS, low social capital-high HIV/AIDS, and high social capital-low HIV/AIDS). Moran's I between social capital and late HIV diagnosis was (I = 0.19, z = 9.54, P social capital was lowest and HIV burden the highest, compared with clusters with high social capital and lowest HIV burden. The association between social participation and HIV care continuum outcomes cluster geographically in Philadelphia, PA. HIV prevention interventions should account for this phenomenon. Reducing geographic disparities will require interventions tailored to each continuum step and that address socioeconomic factors such as neighborhood median income.

  18. 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)

  19. 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.

  20. LIFE Cost of Electricity, Capital and Operating Costs

    Energy Technology Data Exchange (ETDEWEB)

    Anklam, T

    2011-04-14

    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.

  1. Cultural Capital and Teaching Ability Rating

    DEFF Research Database (Denmark)

    Jæger, Mads Meier

    This paper studies the effect of cultural capital on teachers’ ratings of children’s oral and math ability. Cultural reproduction theory hypothesises that, holding everything else constant, children who possess cultural capital are more likely to be perceived by teachers as gifted than children who...... 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...

  2. Cultural Capital and Teaching Ability Rating

    DEFF Research Database (Denmark)

    Jæger, Mads Meier

    , 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......This paper studies the effect of cultural capital on teachers’ ratings of children’s oral and math ability. Cultural reproduction theory hypothesises that, holding everything else constant, children who possess cultural capital are more likely to be perceived by teachers as gifted than children who...... 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...

  3. 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.

  4. Mengukur Kontribusi Human Capital terhadap Tujuan Perusahaan

    Directory of Open Access Journals (Sweden)

    Brata Wibawa Djojo

    2010-11-01

    Full Text Available Human capital is a valuable asset of any company, especially for competent human resources and contributes both to the company. The performance evaluation given to employees annually can be defined and standardized by the company. However, the question is how big the contribution of human resources to sales and profit contribution is. Case studies take data from one branch of a general insurance company in Indonesia, Jakarta branch. Measurement is done by taking samples of data from 2007, 2008, and 2009. The study measures the risk of several components: (i Human Capital Revenue Factor, (ii Human Economic Value Added, (iii Human Capital Cost Factor, (iv Human Capital Value Added, and (v Human Capital Return on Investment. Results of research can provide guidelines for the management, especially for management of JLI in view of Human Capital contribution to corporate objectives, namely in terms of staffing and agency. 

  5. 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...

  6. 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.

  7. 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.

  8. ANALYSIS OF THE CAPITAL MARKET IN CROATIA

    Directory of Open Access Journals (Sweden)

    Maja Buljat

    2015-12-01

    Full Text Available The financial crisis that began in 2008 in the USA turned into a global economic crisis in a short time. As such, it had a big impact on the financial stability of Croatia, primarily on capital market. Capital market includes securities trading, primarily stocks and bonds, whose market value is influenced by the market capitalization of capital market and vice versa. Macro economically, market capitalization had an influence on the fall in the value of the entire capital market, and micro economically, it had an influence on the fall of the prices of stocks, bonds and other financial instruments of companies. The volume of trade decreased, but there was an increase in the number of transactions. In other words, people traded more and in smaller quantities. Therefore, the risk increased, and investors became more cautious.

  9. Capital management and measuring intangible assets for public organizations, revisiting the literature

    Directory of Open Access Journals (Sweden)

    Ivan Ramirez

    2017-03-01

    Full Text Available Public administration is not alien to knowledge society or to the "new economy". Thus, it is transforming itself to these new requirements, improving its processes to meet the needs of citizens. In this context intangible assets play an important role and become a source of competitive advantage, but only if they are properly managed. Therefore, it is necessary to previously identify intangible assets. This paper revisited the literature in order to comprehend intellectual capital model reflecting different capitals which make up institutions. This study aims to propose an intellectual capital model that enables measurement and management of intangible assets in public administration, including specific issues of public entities.

  10. Calculating energy and labor impacts of capital readjustments due to changes in personal consumption. Final report

    Energy Technology Data Exchange (ETDEWEB)

    Pleszkun, A.R.

    1979-05-01

    Previous work on the energy and labor impacts of energy-consumption policies has included the effect of respending of money saved, but not the capital implications of this respending. Here the capital effects are fully accounted for, and turn out to be negligible for a specified conservation scenario and a specified capital expansion model (..delta..C = kC). The robustness of this conclusion is discussed. The implication is that inclusion of only the respending effect is adequate for calculating energy and labor impacts and provides an accuracy to within +- 1% of the total impacts. Operationally, this result obviates the requirement for detailed and expensive calculations.

  11. 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

    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.

  12. Capital intelectual: verdades e mitos

    Directory of Open Access Journals (Sweden)

    Maria Thereza Pompa Antunes

    2002-08-01

    Full Text Available Muito se tem comentado que os relatórios fornecidos pela Contabilidade Financeira não retratam certas realidades das empresas atualmente, tendo em vista o fato de o valor contábil das ações estar muitas vezes abaixo do seu valor de mercado. Esse contraste entre os dois valores vem sendo identificado como Capital Intelectual e apresentado como um novo conceito de administração de empresas que conduz à necessidade de aplicação de novas estratégias, de nova filosofia de gestão e novas formas de avaliação do valor da empresa. Este trabalho evidencia a verdadeira relação existente entre a Contabilidade e o Capital Intelectual. Desmistifica-se a novidade do conceito, pois comprova-se que o capital Intelectual é parte integrante do Goodwill, conceito secularmente conhecido e estudado pela Contabilidade. Os elementos intangíveis sempre foram abordados pela Contabilidade e, da mesma forma, como nunca se desprezou a sua importância, nunca se subestimou a sua complexidade. Portanto, a Contabilidade não é falha na divulgação das informações por ela registradas. Deve-se entender a finalidade de cada uma das Demonstrações Contábeis, bem como os Princípios subjacentes a elas. A falta de conhecimento, por vezes, conduz a conclusões precipitadas e errôneas. Por outro lado, qualquer que seja o rótulo atribuído aos elementos intangíveis, que sempre fizeram parte das organizações, entende-se e aceita-se que hoje, cada vez mais, o conhecimento e o gerenciamento desses elementos são relevantes para a gestão das empresas, pois o momento atual é caracterizado pela ampla aplicação do recurso do conhecimento pelo homem, que se materializa em novas tecnologias, sistemas e serviços (entendidos como ativos intangíveis que agregam valor às organizações.It has been said many times that the statements provided by Financial Accounting do not give a picture of certain realities of companies nowadays, considering the fact that, often

  13. 12 CFR 325.3 - Minimum leverage capital requirement.

    Science.gov (United States)

    2010-01-01

    ... period. (4) In any merger, acquisition or other type of business combination where the FDIC must give its... experiencing significant growth and has well-diversified risk, including no undue interest rate risk exposure... be taken to prevent the closing of a depository institution or to facilitate the acquisition of a...

  14. 12 CFR 211.12 - Lending limits and capital requirements.

    Science.gov (United States)

    2010-01-01

    ... following: (A) The United States or any of its departments, agencies, establishments, or wholly owned... include loans and extensions of credit to the corporation's affiliates, where the affiliate incurs the... Edge corporation, but does not include companies otherwise controlled by affiliates of the...

  15. 12 CFR 1750.4 - Minimum capital requirement computation.

    Science.gov (United States)

    2010-01-01

    ... times the unpaid principal balance of mortgage-backed securities and substantially equivalent... differences in the credit risk of such obligations in relation to mortgage-backed securities. (b) Any asset or...

  16. 13 CFR 120.472 - Higher individual minimum capital requirement.

    Science.gov (United States)

    2010-01-01

    ... directors and senior management; and (f) Other risk-related factors, as determined by SBA. ... those circumstances or potential problems; (c) Overall condition, management strength, and future prospects of the SBLC and, if applicable, its parent or affiliates; (d) The SBLC's liquidity and...

  17. 40 CFR 35.3135 - Specific capitalization grant agreement requirements.

    Science.gov (United States)

    2010-07-01

    ...) or (f) and for Fund administration under 40 CFR 35.3120(g). (2) If the State commits more than the... State match to address any major and minor publicly owned treatment works (POTW) that the Region and the... funds may be used to fund the cost-effective reserve capacity of these projects. (3) In order for a...

  18. 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...

  19. Piketty's capital and social policy.

    Science.gov (United States)

    Piachaud, David

    2014-12-01

    Piketty's Capital (2014) primarily describes and analyses changes in the distribution of wealth and annual incomes. This paper focuses on his policy proposals that make up Part Four of the book. Piketty defends the 'social state' but he discusses it largely in terms of distribution and redistribution between tax units. This neglects the important role of social policy in promoting recognition and redistribution of income and opportunities that is related to gender, race, disability and sexual orientation. Nor does Piketty consider inequalities in health which effect life-time incomes, nor the impact of housing policies on house prices and the distribution of wealth. It is argued that Piketty's approach to social security is simplistic and plays down the complexity of competing policy goals. On taxation, Piketty defends progressive taxation and proposes a global capital levy. The latter proposal runs into formidable problems in seeking global taxation in a world of nation states. Rather than seeking a policy that is, for the foreseeable future, wholly politically impractical, a case is made for less idealistic but more practical and urgent tax coordination between nations to address the widespread avoidance of taxation that large corporations and the very wealthy are now permitted - taxation on which the future of the social state depends. The importance of human and social capital, which are largely set aside by Piketty, are discussed. Finally,it is argued that his approach to policy is to describe trends and propose amelioration of growing inequality rather than to identify causes of the trends and propose policies that might address the causes. Nevertheless, the importance of his work in bringing issues of inequality to the fore, especially among economists, is recognized and applauded.

  20. The Capitalism, Rent and Democracy

    Directory of Open Access Journals (Sweden)

    Victor S. Martyanov

    2017-03-01

    Full Text Available By inertia, which derives from Adam Smith, modern capitalism is described as a free-market competition. This historical model has worked while the market expands and the availability of resources increases. It provided the opportunity to maintain the political order of the welfare state as a form of non-economic egalitarian distribution of resources, which mitigates inequality and class antagonisms generated by market. However, once capitalism has engulfed the whole world, it is more prone to crises: competition intensifies, markets of demand and market outlets do not expand, technological progress creates a growing structural unemployment, economic growth due to the completion of the global village-city transition stagnates, the resources of all the peripheries are almost exhausted. As a result, nationalism and protectionism arise, the polarization between the global center and the periphery increases, and there comes the image of undemocratic and non-egalitarian labor less society on the horizon of the future, with the precariat and the unemployed growing in numbers and demanding large amounts of rent to maintain their livelihoods. Due to this, the market model of capitalism is gradually transforming into a rental one, where the pursuit of profit, the main motivational factor intrinsic to the market, is removed by the pursuit of rent and the redistribution of markets by non-economic ways. In this context, the state becomes the key economic actor, which distributes resources by extra-market means within the hierarchy of rental groups that form the framework of a new structure of the political community.

  1. THE IMPORTANCE OF CAPITAL MARKET IN ECONOMY

    Directory of Open Access Journals (Sweden)

    Alin Marius Andrieş

    2009-12-01

    Full Text Available All participants in capital markets are asking how to finance investments or to invest money available. The answer to these questions depends on the situation you have: deficit or surplus capital. This article addresses issues concerning the place and role of capital market within the financial markets and in financing investments, trying to highlight the growing importance of this subsystem, shown both to economic agents and to all categories of investors.

  2. Social capital formation : a poverty reducing strategy?

    OpenAIRE

    Øyen, Else

    2002-01-01

    From the symposium: Social Capital Formation in Poverty Reduction: Which role for the Civil Society Organizations and the State? - on 28 June 2000 in Geneva The title of the symposium is "Social Capital Formation in Poverty Reduction: Which Role for Civil Society Organizations and the State?". The emphasis here is on poverty and whether poverty reduction can be obtained through a strategy of increased social capital. The emphasis is not on social development in general or the b...

  3. EMERGING CAPITAL MARKETS: OPPORTUNITIES AND LIMITS

    Directory of Open Access Journals (Sweden)

    FELICIA RAMONA BIRAU

    2012-05-01

    Full Text Available This theoretical study examines the concept of emerging capital markets in Europe from the border between certain opportunities and limits. The financial architecture of emerging capital markets has certain characteristics such as a high degree of instability and a sharp level of illiquidity which exposed the vulnerability of this particular type of market. Emerging capital market represents a main characteristic of developing countries and they are less efficient than the developed market given their deep functional, structural and institutional dysfunctions.

  4. Capitalizing Central Banks: A Net Worth Approach

    OpenAIRE

    Alain Ize

    2005-01-01

    This paper provides a simple, quantitative, net worth-based, approach to assessing the need for central bank capital. It derives a concept of "core capital" (a function of the central bank's operating expenditures and the carrying cost of its international reserves) as the minimum capital needed by a central bank to ensure the credibility of its inflation target. The approach is illustrated with the published accounts of three loss-making central banks and selected accounting entries for a br...

  5. Simulated annealing algorithm for optimal capital growth

    Science.gov (United States)

    Luo, Yong; Zhu, Bo; Tang, Yong

    2014-08-01

    We investigate the problem of dynamic optimal capital growth of a portfolio. A general framework that one strives to maximize the expected logarithm utility of long term growth rate was developed. Exact optimization algorithms run into difficulties in this framework and this motivates the investigation of applying simulated annealing optimized algorithm to optimize the capital growth of a given portfolio. Empirical results with real financial data indicate that the approach is inspiring for capital growth portfolio.

  6. The Positive and Negative Social Capital

    OpenAIRE

    Rohman, Arif

    2014-01-01

    Social capital can be useful when cooperation for mutual benefit can be facilitated by social network and norms of reciprocity (Putnam, 2000:21). In this context, both individuals and organisations agree to mobilise joint resources to achieve common outcomes which are more efficient and productive. However, the concept of social capital is not always positive.This article will discuss positive and negative social capital.

  7. Capital financing in an uncertain future.

    Science.gov (United States)

    Widmayer, T G

    1980-10-01

    A critical test of the hospital's ability to survive will be its ability to raise capital in private debt markets as traditional funding sources (philanthropy and government) continue to shrink. This article assesses the impact of inflation and recession on hospital capital financing and investment, describes what a commercial banker looks for in evaluating a hospital's ability to borrow, and suggests a role for trustees in meeting the hospital's capital needs.

  8. Rawlsian justice and welfare-state capitalism

    OpenAIRE

    Yuen, Ho-yin; 袁浩然

    2014-01-01

    Rawls emphasizes in his later writings that his theory of justice as fairness is not a defense of welfare-state capitalism. He argues that welfare-state capitalism cannot be an acceptable regime for justice as fairness because its ideal institutional description fails to satisfy the two principles of justice in various ways. Against Rawls, I argue in this thesis that his rejection of welfare-state capitalism is not justified. I begin by clarifying an ambiguity regarding what arrangements...

  9. Venture Capital Contracting Under Asymmetric Information

    OpenAIRE

    Jeffrey Trester

    1993-01-01

    The author develops a model of venture capital contracting in which the entrepreneur and venture capitalist contract under symmetric information. A condition of asymmetric information may arise subsequent to the first contract. The author shows that this condition makes debt contracts infeasible and leads to the use of preferred equity contracts. The author notes that discussions of the relation between venture capital and capital structure are rare. This paper expands the literature by addre...

  10. New Standard for Fuel to Reduce Pollution in Capital

    Institute of Scientific and Technical Information of China (English)

    2012-01-01

    Beijing introduced new fuel standards on May 31 this year that municipal officials say are nearly on a par with the European Union's Euro V, the first Chinese city to do so. All fuel sold by retailers in the Chinese capital are required to adhere to the new standards, which are expected to reduce sulfur dioxide emissions from 50 to 10 milligrams per kilogram, according to the Beijing environmental protection bureau.

  11. Impression management as symbolic capital

    DEFF Research Database (Denmark)

    Lueg, Klarissa; Nielsen, Camilla

    2015-01-01

    Social Network Sites (SNS) play an increasingly important role in the European business world, especially with respect to cross-cultural impression management. Departing from the Bourdieusian concept of “capital,” this paper analyzes the differences in the use of two popular business SNS: XING...... in Germany and LinkedIn in Denmark. We summarize those differences and relate them to different cultural contexts and impression management practices. Our sample consists of Danish Higher Executives (HEs)/managers (e.g., CEOs) and companies that have profiles on both SNS, thus reaching out to both the German...

  12. Actual problems of the capital stability management in the Ukraine’s banking system

    Directory of Open Access Journals (Sweden)

    Svitlana Yehorycheva

    2017-06-01

    Full Text Available Capital stability of the banking system is the basis of its effective development and realization of its main function – optimal redistribution of capital. So, the aim of the article is to develop indicators of capital stability of the banking system, and to propose the frameworks for the long term capital stability strategy of the banking system in Ukraine. For this purpose, the analysis of micro- and macroeconomic indicators of the capital stability of domestic banks within the period 2007–2016 is made. To carry out the research, there were used the statistic data of the National Bank of Ukraine, its legislative and regulatory documents, the Basel Accords. Capital stability of the banking system has been defined in the article as the process of ensuring capitalization that is adequate to the banking risks and cyclical economic development. It has been detected that a significant reduction in return on equity of the Ukrainian banks in 2014–2015 even with restoring their liquidity has had a crucial destabilizing impact on their capital stability. In order to improve the assessment of capital stability, its key indicators for the groups of domestic banks have been studied. The necessity of refocusing macroprudential requirements of the National Bank of Ukraine from quantitative indicators to qualitative ones to ensure economic development has been proved. It has been concluded that a necessary condition for restoring the Ukrainian banking system was to develop an effective strategy for ensuring its capital stability, which should be focused on the creation of its diversified structure.

  13. APPLICATION OF COST OF CAPITAL FOR CAPITAL STRUCTURING IN CROATIAN FIRMS

    Directory of Open Access Journals (Sweden)

    Silvije Orsag

    2014-12-01

    Full Text Available This paper show result of empirical analysis application of cost of capital for capital structuring in Croatian firms. Intensity of this applications is highly unrespectable because Croatian firms usually calculated cost of capital in their capital budgeting process. Analysis also show low inconsistency of Croatian firm’s capital structures with peaking order theory. The paper shows that Croatian firm’s employ debt in their capital structure close to the debt equity ratio 1:1, with the significant portion of trade credit and short term bank credits. This short term liabilities are greater than 60% of total used debt in analyzing firms. Finally, paper shows that with degree of using the cost of capital in capital structuring rise profitability of analyzing firms.

  14. '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...

  15. Cultural capital, teacher bias, and educational success

    DEFF Research Database (Denmark)

    Jæger, Mads Meier; Møllegaard, Stine

    2017-01-01

    . Second, cultural capital leads teachers to form upwardly biased perceptions of children's academic ability, but only when their exposure to children's cultural capital is brief (as in oral and written exams) rather than long (as in grades awarded at the end of the school year). Third, we find......In this paper we use new data on Danish monozygotic (MZ) twins to analyze the effect of cultural capital on educational success. We report three main findings. First, cultural capital has a positive direct effect on the likelihood of completing the college-bound track in Danish secondary education...

  16. 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.

  17. A Welfare Analysis of Capital Insurance

    Directory of Open Access Journals (Sweden)

    Ekaterina Panttser

    2013-09-01

    Full Text Available This paper presents a welfare analysis of several capital insurance programs in a rational expectation equilibrium setting. We first explicitly characterize the equilibrium of each capital insurance program. Then, we demonstrate that a capital insurance program based on aggregate loss is better than classical insurance, when big financial institutions have similar expected loss exposures. By contrast, classical insurance is more desirable when the bank’s individual risk is consistent with the expected loss in a precise way. Our analysis shows that a capital insurance program is a useful tool to hedge systemic risk from the regulatory perspective.

  18. 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...

  19. The multitudinous creativity of the contemporary capitalisms

    Directory of Open Access Journals (Sweden)

    Ionuț Bârliba

    2015-12-01

    Full Text Available Creative Capitalism, Multitudinous Creativity, Radicalities and Alterities, Edited by Giuseppe Cocco and Barbara Szaniecki, Lexington Books, Lanham. Boulder. New York. London, 2015, 269p.

  20. Social Capital, Economic Growth and Transition Economies

    DEFF Research Database (Denmark)

    Svendsen, Gert Tinggaard

    1998-01-01

    Summary: What does social capital mean and how can it be 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......-trade. Second, state withdrawal should be combined with efforts to increase economic growth and gain popular support for the implementation of reforms. Third, voluntary groups, beneficial to the economy, should not be institutionalized to prevent them from turning into harmful rent-seeking groups....