Financial-Ratio Analysis and Medical School Management.

Science.gov (United States)

Eastaugh, Steven R.

1980-01-01

The value of a uniform program of financial assistance to medical education and research is questioned. Medical schools have an uneven ability to compensate for declining federal capitation and research grants. Financial-ratio analysis and cluster analysis are utilized to suggest four adaptive responses to future financial pressures. (Author/MLW)

Framework for Financial Ratio Analysis of Audited Federal Financial Reports

Science.gov (United States)

1999-12-01

this period were conducted on the statistical validity of the ratio method in financial analysis. McDonald and Morris conducted a study on the... franchising operations, allowing them to lower costs and share administrative support services with other agencies. [Ref. 60:sec. 402-403] The GMRA also...Press, Washington, D.C., 1955). 21. McDonald , Bill and Morris, Michael H., "The Statistical Validity of the Ratio Method in Financial Analysis: An

Key components of financial-analysis education for clinical nurses.

Science.gov (United States)

Lim, Ji Young; Noh, Wonjung

2015-09-01

In this study, we identified key components of financial-analysis education for clinical nurses. We used a literature review, focus group discussions, and a content validity index survey to develop key components of financial-analysis education. First, a wide range of references were reviewed, and 55 financial-analysis education components were gathered. Second, two focus group discussions were performed; the participants were 11 nurses who had worked for more than 3 years in a hospital, and nine components were agreed upon. Third, 12 professionals, including professors, nurse executive, nurse managers, and an accountant, participated in the content validity index. Finally, six key components of financial-analysis education were selected. These key components were as follows: understanding the need for financial analysis, introduction to financial analysis, reading and implementing balance sheets, reading and implementing income statements, understanding the concepts of financial ratios, and interpretation and practice of financial ratio analysis. The results of this study will be used to develop an education program to increase financial-management competency among clinical nurses. © 2015 Wiley Publishing Asia Pty Ltd.

Determinants of Trade Credit: A Preliminary Analysis on Construction Sector

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Nicoleta Barbuta-Misu

2016-07-01

Full Text Available This paper introduces a preliminary analysis of the correlations between trade credit and some selected measures of financial performance for a sample of 958 firms acting in the construction sector. The examined period covers 2004-2013. The sample derived from Amadeus database contains firms that have sold and bought on credit. Results showed that larger firms offered and used more credit than counterparties. Firms offered and used in same time credit, but not in same level. Firms with higher return on assets and profit margin used and offered less credit from suppliers, respectively to clients. Moreover, more liquid firms used less trade payables.

Financial Ratio Analysis Comes to Nonprofits.

Science.gov (United States)

Chabotar, Kent John

1989-01-01

To evaluate their financial health, a growing number of colleges, universities, and other nonprofit organizations are using financial ratio analysis, a technique used in business. The strengths and weaknesses of ratio analysis are assessed and suggestions are made on how nonprofits can use it most effectively. (Author/MLW)

THE FINANCIAL STABILITY ANALYSIS THROUGH THE WORKING CAPITAL

Directory of Open Access Journals (Sweden)

LĂPĂDUŞI MIHAELA LOREDANA

2012-12-01

Full Text Available The main goal of any business is to maintain the financial stability not only on the short term but also on medium and long term, in other words to maintain a harmony between financial sources and financial needs, respectively the equality between the assets and liabilities from the balance sheet. On short term, maintaining the financial stability involves correlating the temporary resources with the temporary uses by using the necessary working capital, and on the long-term, the financial stability involves comparing the permanent resources with the permanent uses by working capital indicator. The determination of the financial state of the company at a certain moment represents the key moment in establishing and adopting the economic and financial decisions in the management of the company. Maintaining the financial stability of the company represents one of the main objectives of the financial analysis and management and it also provides the optimum development of the entire economic and financial activity of the company. The analysis of the working capital size is based on the financial statement data and information, and based on this analysis is considered the financial situation of the company, the financial equilibrium state at a certain moment. The purpose of this article is to highlight the fact that the maintenance of the financial stability on medium and long term is subordinated to the “working capital” indicator, its content and interpretation evolving in time and varying differently from one company to another. The results of this research may have broad applicability in the field of the companies’ activity and it materializes in the complex approach of the working capital regarded as a classic indicator, frequently used in the financial analysis and with profound significance in establishing the financial state in general and the equilibrium state in particular.

Analysis of Financial Position Based on the Balance Sheet

OpenAIRE

Spineanu-Georgescu Luciana

2011-01-01

Analysis of financial position based on the balance sheet is mainly aimed at assessing the extent to which financial structure chosen by the firm, namely, financial resources, covering the needs reflected in the balance sheet financed. This is done through an analysis known as horizontal analysis balance sheet financial imbalances.

Ratio analysis specifics of the family dairies' financial statements

Directory of Open Access Journals (Sweden)

Mitrović Aleksandra

2015-01-01

Full Text Available The subject of this paper is the evaluation of the financial analysis specifics of the dairy enterprises with a focus on the implementation of the ratio analysis of financial statements. The ratio analysis is a central part of financial analysis, since it is based on investigating the relationship between logically related items in the financial statements to assess the financial position of the observed enterprise and its earning capacity. Speaking about the reporting of financial performance in family dairies, the basis is created for displaying techniques of financial analysis, with a special indication on the specifics of their application in agricultural enterprises focusing on companies engaged in dairying. Applied in the paper is ratio analysis on the example of a dairy enterprise, i.e. a family dairy operating in Serbia. The ratio indicators are the basis for identifying relationships based on which by comparing the actual performance and certain business standards differences or variations are identified.

Preliminary research on the glass ceiling phenomenon in accounting and financial audit practice in Poland

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Aleksandra Szewieczek

2017-09-01

Full Text Available Preliminary research on the glass ceiling phenomenon in accounting and financial audit practice in Poland The paper analyzes the glass ceiling phenomenon in the accounting practice in Poland. The essence and characteristics of this phenomenon are presented in relation to the accounting profession and statutory auditors. Research on the ‘glass ceiling’ carried out in various countries, with a particular reference to the profession of a statutory auditor, was reviewed. The paper presents results of the research on the phenomenon conducted among a selected sample of audit firms in Poland. The results of the study confirmed the occurrence of this phenomenon in Poland with greater intensity in larger entities. The large scale of the glass ceiling phenomenon in the professional life of women in accounting is reflected by a high percentage of women in the profession of statutory auditor contrasted by the very low participation in senior managerial positions, e.g. partners in auditing companies. The paper uses the method of critical analysis of the literature and empirical data. Moreover, qualitative analysis was used for the data reported by audit firms

Financial analysis as a tool for asset and capital management

OpenAIRE

BLAŽKOVÁ, Andrea

2010-01-01

This thesis deals with general characteristics of financial analysis, the importance of financial analysis for financial management, an expression of financial ratios, including their systems, economic value added, and some bankruptcy and creditworthy models. The analytical section of the thesis applies selected financial indicators to interpret the financial situation of the constructional company Hochtief CZ.

Financial planning for major initiatives: a framework for success.

Science.gov (United States)

Harris, John M

2007-11-01

A solid framework for assessing a major strategic initiative consists of four broad steps: Initial considerations, including level of analysis required and resources that will be brought to bear. Preliminary financial estimates for board approval to further assess the initiative. Assessment of potential partners' interest in the project. Feasibility analysis for board green light.

THE OPTIMIZATION OF THE ENTERPRISE FINANCIAL ANALYSIS TROUGH THE FINANCIAL SYSTEM OF CONTROL DU PONT

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GÂDOIU MIHAELA

2016-06-01

Full Text Available The return on assets and the return on equity are essential indicators for the assessment of the company performance. They have a rich financial content, but there are many cases where the figure sometimes shows a “prettier” reality. In such cases it is necessary to treat and interpret financial rates with caution, taking into account, at the same time, other methods used in the financial analysis. The objective of this paper is to present a popular financial diagnosis optimization method - the Du Pont financial control system, that has an important role in the financial analysis of the company because it is related to the return on assets and the return on equity of the company as a result of the interaction of several factors synthesized through reports built based on information taken from the annual financial statements.

Financial Statements Analysis

OpenAIRE

Tănase Alin-Eliodor

2014-01-01

This article focuses on analyzing of a consolidated financial statements of a hypothetically SME. The interpretation of the financial position and performances is based on the more than 40 financial key ratios computed by using financial data from consolidated income statement, consolidated financial position and cash flow. However additional data from notes to financial statements are provided.

PATRIMONIAL ANALYSIS OF FINANCIAL STABILITY

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GABRIELA CORINA SLUSARIUC

2011-01-01

Full Text Available Patrimonial analysis of financial stability is realized with the help of some indicator determined on the balance: working capital; required working capital and net treasury. These indicators are determined and presented in evolution at two companies with different situations, and there are given conclusions and suggestions concerning achieving and maintaining the financial equilibrium or initiating corrective measures in time, before the imbalance would take irrecoverable forms.

TRANSFER PRICING AS A TOOLFOR FINANCIAL ANALYSIS OFENTERPRISES

Directory of Open Access Journals (Sweden)

Alexey S. Besfamilnyy

2015-01-01

Full Text Available The article outlines the basics of using transfer pricing methods applied to the financial analysis of the enterprise. It focuses on the application of transfer pricing methods not only over prices control between related organizations, but for analysis of the financial performance of companies. It proposes to use comparison of profitability of comparable companies during the reporting period. Shows an approach for the search and selection of comparable companies using information systems SPARKS or Bureau van Dijk. It analysis some examples in which the methodology is applicable transfer pricing as a tool of financial analysis.

FINANCIAL ANALYSIS FROM AN ACCOUNTING POINT OF VIEW

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Mihaela Ungureanu

2013-03-01

Full Text Available Despite the developments which tend to relax the relationship between financial analysis and accounting, property information provided by the latter irreplaceable render its use for diagnostic approaches financial foundation. An efficient information system can provide relevant indicators to users based on accurate and real information and financial analysis results are based on a diagnosis of return and risk. The aim of this article is to present primarily the origin and evolution of the relationship between financial analysis and accounting, and the fundamental role which accounting holds, through the information it produces, into analysts’ work. The used research method is the bibliographic one, being studied timely books and articles of the domain. Literature does not provide concrete answers to this problem, resolutions being expected especially from practitioners.

Financial Analysis Report: Malaysia Airlines 2007 - 2011

OpenAIRE

Gilbert O'Neil Mushure

2014-01-01

This work is an analysis of the annual reports of Malaysia Airlines Berhad from 2007 to 2011. Profitability analysis was done on the financial statements of the company from 2007 to 2011. Cash and working capital management analysis were done on the financial statements of 2010 and 2011. It was found that Malaysia Airlines Berhad was constantly suffering from high costs of operations which resulted in consecutive negative gross profit over the years.Net profit remained positive only as a resu...

FINANCIAL ANALYSIS FUNDAMENT FOR ASSESSMENT THE COMPANY'S VALUE

Directory of Open Access Journals (Sweden)

Goran Karanovic

2010-06-01

Full Text Available Lack of capital market development cause that calculating the value of companies in the small markets, such as the Croatian market, is carried out primarily from the analysis of financial statements. Lack of market development is evident from the unrealistic and unobjective corporate values, as result of too small volumeof securities trading in financial markets. The primary financial analysis is the basic method for estimating company value, and represents the foundation for an objective determination of cash flow components that will be discounted. Trought analysis investors are trying to answer the questions such as: status of the assets,liabilities and capital, the dynamics of business enterprises, the level of solvency and liquidity, utilization of fixed assets, contribution of fixed assets in total income, company profitability rates and investment in the company. Investors use financial analysis only as a basis and as a tool to predict the potential for creating new business value.

Econometric Analysis of Financial Derivatives : An overview

NARCIS (Netherlands)

C-L. Chang (Chia-Lin); M.J. McAleer (Michael)

2014-01-01

markdownabstract__Abstract__ One of the fastest growing areas in empirical finance, and also one of the least rigorously analyzed, especially from a financial econometrics perspective, is the econometric analysis of financial derivatives, which are typically complicated and difficult to analyze.

Econometric Analysis of Financial Derivatives: An Overview

NARCIS (Netherlands)

C-L. Chang (Chia-Lin); M.J. McAleer (Michael)

2014-01-01

markdownabstract__Abstract__ One of the fastest growing areas in empirical finance, and also one of the least rigorously analyzed, especially from a financial econometrics perspective, is the econometric analysis of financial derivatives, which are typically complicated and difficult to analyze.

Economic Analysis in the System of Financial Planning of Forestry Enterprises

Directory of Open Access Journals (Sweden)

Ievdokymov Viktor V.

2017-12-01

Full Text Available The aim of the article is to develop organizational and methodological provisions of economic analysis of forestry enterprises’ financial plans as a result of financial planning. The importance of financial planning as a basis for developing managerial decisions regarding the financial potential is substantiated. The characteristic of the development stages and the importance of financial potential in countries of the world is given. The stages of forecasting as the basis of enterprises’ financial plans are considered. The composition of the subsystems, methods and functions of financial planning highlighted in the scientific literature is investigated. The place of economic analysis in financial planning and in the system of financial planning of an enterprise’s economic activity is determined. There identified the directions of information disclosure in a financial plan: formation of financial results, budget settlements, cash flow, capital investments, ratio analysis, financial status, breakdown of individual items. The prospect for further research is to determine the order of applying the analytical procedures for each of these directions of economic analysis to justify the application of the analytical procedures for assessing financial potential on the basis of financial plans of forestry enterprises. This will allow to create information space for managing the financial potential of a forestry enterprise to achieve its tactical and strategic goals.

Financial Statement Analysis for Colleges and Universities.

Science.gov (United States)

Woelfel, Charles J.

1987-01-01

Presents ratio analysis of financial statements as a tool applicable for use by nonprofit institutions for evaluation of financial and operational performance of an institution. It can be used as a screening, forecasting, diagnostic, and evaluative tool for administration and governance. (MD)

Preliminary Context Analysis of Community Informatics Social ...

African Journals Online (AJOL)

Preliminary context analysis is always part of the feasibility study phase in the development of information system for Community Development (CD) purposes. In this paper, a context model and a preliminary context analysis are presented for Social Network Web Application (SNWA) for CD in the Niger Delta region of ...

Topics in Finance: Part II--Financial Analysis

Science.gov (United States)

Laux, Judy

2010-01-01

The second article in a series designed to supplement the introductory financial management course, this essay addresses financial statement analysis, including its impact on stock valuation, disclosure, and managerial behavior. [For "Topics in Finance Part I--Introduction and Stockholder Wealth Maximization," see EJ1060345.

Using Ratio Analysis to Evaluate Financial Performance.

Science.gov (United States)

Minter, John; And Others

1982-01-01

The ways in which ratio analysis can help in long-range planning, budgeting, and asset management to strengthen financial performance and help avoid financial difficulties are explained. Types of ratios considered include balance sheet ratios, net operating ratios, and contribution and demand ratios. (MSE)

Financial Performance Analysis Of Financial Service Cooperative

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Eyo Asro Sasmita

2015-08-01

Full Text Available This research is aimed to test and identify empirical evidence regarding the effect of capital structure and loan to financial performance of cooperative where the relationship between loan and financial performance is moderated by non-performing loan. The population of this research is 257 Financial Service Cooperative hereinafter referred to as KJK as the abbreviation for Koperasi Jasa Keuangan of Urban Village Community Economic Empowerment hereinafter referred to as PEMK as the abbreviation for Pemberdayaan Ekonomi Masyarakat Kelurahan in Jakarta 2011 to 2013. Sample is determined by using purposive sampling method. The data is secondary data which is obtained from the Revolving Fund Management Unit hereinafter referred to as UPDB as the abbreviation for Unit Pengelola Dana Bergulir Jakarta. Hypothesis is tested by using multiple linear regression analysis with SPSS 20.00. The number of sample used in this research is 120. Research findings explain that 1 Capital Structure hereinafter referred to as SM as the abbreviation for Struktur Modal has positive and significant impact on financial performance hereinafter referred to as KIN as the abbreviation for Kinerja Keuangan because the probability value of 0000 is smaller than amp945 0.05. Calculation shows that if the capital structure rises 1 assuming that the loan and non-performing loan variables remain the same then the financial performance will increase 0.017. 2 Loans hereinafter referred to as PIN as the abbreviation for Pinjaman given has positive and significant impact on KIN because the probability value of 0001 is smaller than amp945 0.05. If the loan rises 1 assuming that the capital structure and non-performing loan variables remain the same then the KIN will increase 0.013. 3 Non-performing loan has negative and significant effect on KIN because the probability value of 0000 is smaller than amp945 0.05. PBR varible increase 1 assuming that the loan and capital structure variables

Preliminary Analysis and Selection of Mooring Solution Candidates

DEFF Research Database (Denmark)

Thomsen, Jonas Bjerg; Delaney, Martin

This report covers a preliminary analysis of mooring solutions candidates for four large floating wave energy converters. The work is part of the EUDP project “Mooring Solutions for Large Wave Energy Converters” and is the outcome of "Work Package 3: Preliminary Analysis". The report further...... compose the "Milestone 4: Report on results of preliminary analysis and selection of final candidates. The report is produced by Aalborg University with input from the partner WECs Floating Power Plant, KNSwing, LEANCON and Wave Dragon. Tension Technology International (TTI) has provided a significant...

IMPROVING FINANCIAL ANALYSIS OF ORGANIZATIONS IN ORDER TO PREVENT THEIR INSOLVENCY

Directory of Open Access Journals (Sweden)

V. N. Alferov

2012-01-01

Full Text Available The current regulatory analysis of the financial condition of insolvent organizations have some disadvantages also does not account the features of the analysis based on the consolidated financial statements under IFRS and GAAP. In this work on the basis of the comparative analysis of financial condition of a number of large Russian companies, calculated on their accounting statements prepared under Russian accounting standards, IFRS and GAAP, proposals are developed to improve the analysis of financial condition of insolvent institutions.

IMPROVING FINANCIAL ANALYSIS OF ORGANIZATIONS IN ORDER TO PREVENT THEIR INSOLVENCY

Directory of Open Access Journals (Sweden)

V. N. Alferov

2013-01-01

Full Text Available The current regulatory analysis of the financial condition of insolvent organizations have some disadvantages also does not account the features of the analysis based on the consolidated financial statements under IFRS and GAAP. In this work on the basis of the comparative analysis of financial condition of a number of large Russian companies, calculated on their accounting statements prepared under Russian accounting standards, IFRS and GAAP, proposals are developed to improve the analysis of financial condition of insolvent institutions.

UVISS preliminary visibility analysis

DEFF Research Database (Denmark)

Betto, Maurizio

1998-01-01

The goal of this work is to obtain a preliminary assessment of the sky visibility for anastronomical telescope located on the express pallet of the International SpaceStation (ISS)} taking into account the major constraints imposed on the instrument by the ISSattitude and structure. Part of the w......The goal of this work is to obtain a preliminary assessment of the sky visibility for anastronomical telescope located on the express pallet of the International SpaceStation (ISS)} taking into account the major constraints imposed on the instrument by the ISSattitude and structure. Part...... of the work is also to setup the kernel of a software tool for the visibility analysis thatshould be easily expandable to consider more complex strucures for future activities.This analysis is part of the UVISS assessment study and it is meant to provide elementsfor the definition and the selection...

DIAGNOSIS OF FINANCIAL POSITION BY BALANCE SHEET ANALYSIS - CASE STUDY

OpenAIRE

Hada Teodor; Marginean Radu

2013-01-01

This study aims to elucidate and to exemplify an important technique for assessing the economic entities, namely the fundamental analysis of the balance sheet, in several significant aspects. The analysis of financial data reported in the balance sheet are, for an economic entity, the basis of a principle diagnosis by determining specific indicators of economic and financial analysis. This analysis aims to provide an insight into the companyâ€(tm)s financial position. The stated aim of this s...

An Introduction to Analysis of Financial Data with R

DEFF Research Database (Denmark)

Nielsen, Søren Feodor

2014-01-01

A review of: An introduction to analysis of financial data with R / by Ruey S. Tsay. (Hoboken : John Wiley & Sons, 2012)......A review of: An introduction to analysis of financial data with R / by Ruey S. Tsay. (Hoboken : John Wiley & Sons, 2012)...

ANALYSIS OF FINANCIAL FLOWS IN FOOD INDURSTRY ENTERPRISES

OpenAIRE

Iurie SPIVACENCO

2015-01-01

In the present study it was used the analysis of food industry and the financial flows generated by them. The analysis was based on information from the financial statements of these entities, and the study of evolution: food industry output, number of enterprises and employees in food industry, import and export of food production. Following the undertaken analysis are highlighted some shortcomings and made some concrete proposals need to be considered in the sustainable development of the f...

Ultra-Deepwater Gulf of Mexico Oil and Gas: Energy Return on Financial Investment and a Preliminary Assessment of Energy Return on Energy Investment

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Matthew Moerschbaecher

2011-10-01

Full Text Available The purpose of this paper is to calculate the energy return on financial investment (EROFI of oil and gas production in the ultra-deepwater Gulf of Mexico (GoM in 2009 and for the estimated oil reserves of the Macondo Prospect (Mississippi Canyon Block 252. We also calculated a preliminary Energy Return on Investment (EROI based on published energy intensity ratios including a sensitivity analysis using a range of energy intensity ratios (7 MJ/$, 12 MJ/$, and 18 MJ/$. The EROFI for ultra-deepwater oil and gas at the well-head, ranged from 0.019 to 0.022 barrels (BOE, or roughly 0.85 gallons, per dollar. Our estimates of EROI for 2009 ultra-deepwater oil and natural gas at the well-head ranged from 7–22:1. The independently-derived EROFI of the Macondo Prospect oil reserves ranged from 0.012 to 0.0071 barrels per dollar (i.e., $84 to $140 to produce a barrel and EROI ranged from 4–16:1, related to the energy intensity ratio used to quantify costs. We believe that the lower end of these EROI ranges (i.e., 4 to 7:1 is more accurate since these values were derived using energy intensities averaged across the entire domestic oil and gas industry. Time series of the financial and preliminary EROI estimates found in this study suggest that the extraction costs of ultra-deepwater energy reserves in the GoM come at increasing energetic and economic cost to society.

Financial Condition Analysis In Municipalities: A Case Of Turkey

Directory of Open Access Journals (Sweden)

Fatma ÖZKUL

2017-07-01

Full Text Available This study included the analysis of prepared comprehensive financial statements with the transitionto accrual-based accounting system from cash-based accounting system in the public institutionsin 2006. In Turkey, there is no specific method developed to the goals of public institutions. GASB 1Reporting Model, which is a model developed in the USA, and is not yet used in Turkey, has been appliedby taking financial statements data of the Istanbul Metropolitan Municipality. The study was carriedout using the institution’s balance sheets and statement of financial performance for 2006-2014.Using ratios developed in the model, the financial condition of institution was measured from fourdifferent aspects: cash solvency, budget solvency, long-term solvency, and service-level solvency, andthe results were analyzed. The purpose of the study is the implementation of financial analysis methodsto have a public sector accounting information system that will achieve a financial structure whichcan measure, evaluate and develop the financial condition of public institutions by decision-makingand that will contribute to the efficient and comprehensible use of the produced information by decision-makers in Turkey.

Preliminary safety analysis methodology for the SMART

Energy Technology Data Exchange (ETDEWEB)

Bae, Kyoo Hwan; Chung, Y. J.; Kim, H. C.; Sim, S. K.; Lee, W. J.; Chung, B. D.; Song, J. H. [Korea Atomic Energy Research Institute, Taejeon (Korea)

2000-03-01

This technical report was prepared for a preliminary safety analysis methodology of the 330MWt SMART (System-integrated Modular Advanced ReacTor) which has been developed by Korea Atomic Energy Research Institute (KAERI) and funded by the Ministry of Science and Technology (MOST) since July 1996. This preliminary safety analysis methodology has been used to identify an envelope for the safety of the SMART conceptual design. As the SMART design evolves, further validated final safety analysis methodology will be developed. Current licensing safety analysis methodology of the Westinghouse and KSNPP PWRs operating and under development in Korea as well as the Russian licensing safety analysis methodology for the integral reactors have been reviewed and compared to develop the preliminary SMART safety analysis methodology. SMART design characteristics and safety systems have been reviewed against licensing practices of the PWRs operating or KNGR (Korean Next Generation Reactor) under construction in Korea. Detailed safety analysis methodology has been developed for the potential SMART limiting events of main steam line break, main feedwater pipe break, loss of reactor coolant flow, CEA withdrawal, primary to secondary pipe break and the small break loss of coolant accident. SMART preliminary safety analysis methodology will be further developed and validated in parallel with the safety analysis codes as the SMART design further evolves. Validated safety analysis methodology will be submitted to MOST as a Topical Report for a review of the SMART licensing safety analysis methodology. Thus, it is recommended for the nuclear regulatory authority to establish regulatory guides and criteria for the integral reactor. 22 refs., 18 figs., 16 tabs. (Author)

Fraud diamond: Detection analysis on the fraudulent financial reporting

Directory of Open Access Journals (Sweden)

Stefani Lily Indarto

2016-11-01

Full Text Available The accounting scandal became one of the reasons for analyzing financial statements in order to minimize fraud against the financial reporting. Therefore, companies use the services of a public accountant to audit the financial statements of companies that are expected to limit the fraudulent practices that increase the public’s confidence in the company’s financial statements. This study aims to detect fraud by using analysis of fraud diamond . This study takes banking companies listed on the Indonesian Stock Exchange in 2009-2014, with a total sample of 149 banks. Based on the results the external pressure, financial stability and capability have influence on fraudulent financial reporting. While target financial, ineffective monitoring and rationalization does not affect the fraudulent financial reporting

The Usefulness of Financial Statements in Making Financial Diagnosis

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Mitica Pepi

2016-01-01

Full Text Available Our research aims to develop an analysis of the usefulness of financial statements and financial investment in making the diagnosis. Financial analysis is by definition an activity that performance condition is diagnosed entity of the financial year. Financial analysis shall be determined by strengths and weaknesses of financial management based on which will underpin future strategy of the entity to maintain and develop it into a competitive environment. Results of financial analysis depends on the quality, accuracy, relevance and effectiveness of economic information collected and processed. The primary sources of information for financial analysis are the financial statements, which are considered as raw material in the analysis.

Hydrothermal Liquefaction Treatment Preliminary Hazard Analysis Report

Energy Technology Data Exchange (ETDEWEB)

Lowry, Peter P.; Wagner, Katie A.

2015-08-31

A preliminary hazard assessment was completed during February 2015 to evaluate the conceptual design of the modular hydrothermal liquefaction treatment system. The hazard assessment was performed in 2 stages. An initial assessment utilizing Hazard Identification and Preliminary Hazards Analysis (PHA) techniques identified areas with significant or unique hazards (process safety-related hazards) that fall outside of the normal operating envelope of PNNL and warranted additional analysis. The subsequent assessment was based on a qualitative What-If analysis. This analysis was augmented, as necessary, by additional quantitative analysis for scenarios involving a release of hazardous material or energy with the potential for affecting the public.

Financial Analysis on the example of Audi Group

OpenAIRE

Maltseva, Anna

2015-01-01

The aim of this master thesis is a financial analysis of Audi Group. Audi is one of the most popular brand of premium car manufacturers, which has a long history and which is a part of one of the biggest world groups in automotive industry -- Volkswagen Group. In this paper we will look into its financial reports in order to analyze its financial performance and make the conclusion in the end -- is Audi Group successful?

ASPECTS OF FINANCIAL EQUILIBRIUM ANALYSIS AND ITS IMPLICATIONS IN MANAGEMENT DECISIONS

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Daniela Cristina Solomon

2013-12-01

Full Text Available Considering the impact of risk factors in the economic environment, this study provides to all users of financial information a possible pattern for analyzing the financial equilibrium, designed to clarify the importance of dynamic analysis of indicators characterizing the financial equilibrium of an enterprise, expressed on absolute values, especially for managers in decision-making on future work, aimed at achieving pre-established strategic and tactical objectives. Practice has shown that the management cannot be based on intuition and routine but on a scientific analysis, on a thorough knowledge of the existing situation, as well as on the identification of vulnerabilities and opportunities for development. In order to promote a rational policy concerning business growth and achieving economic and financial satisfactory results, the company’s management grants a special importance to the financial diagnosis. The support of financial analysis is the balance sheet that allows developing financial diagnosis on the financial equilibrium conditions and creditworthiness, objectives that allow the evaluation of the independence of the firm and its market value.

Electricity prices in a competitive environment: Marginal cost pricing of generation services and financial status of electric utilities. A preliminary analysis through 2015

International Nuclear Information System (INIS)

1997-08-01

The emergence of competitive markets for electricity generation services is changing the way that electricity is and will be priced in the United States. This report presents the results of an analysis that focuses on two questions: (1) How are prices for competitive generation services likely to differ from regulated prices if competitive prices are based on marginal costs rather than regulated open-quotes cost-of-serviceclose quotes pricing? (2) What impacts will the competitive pricing of generation services (based on marginal costs) have on electricity consumption patterns, production costs, and the financial integrity patterns, production costs, and the financial integrity of electricity suppliers? This study is not intended to be a cost-benefit analysis of wholesale or retail competition, nor does this report include an analysis of the macroeconomic impacts of competitive electricity prices

The Regression Analysis of Individual Financial Performance: Evidence from Croatia

OpenAIRE

Bahovec, Vlasta; Barbić, Dajana; Palić, Irena

2017-01-01

Background: A large body of empirical literature indicates that gender and financial literacy are significant determinants of individual financial performance. Objectives: The purpose of this paper is to recognize the impact of the variable financial literacy and the variable gender on the variation of the financial performance using the regression analysis. Methods/Approach: The survey was conducted using the systematically chosen random sample of Croatian financial consumers. The cross sect...

Strategic financial analysis: the CFO's role in strategic planning.

Science.gov (United States)

Litos, D M

1985-03-01

Strategic financial analysis, the financial information support system for the strategic planning process, provides information vital to maintaining a healthy bottom line. This article, the third in HCSM's series on the organizational components of strategic planning, reviews the role of the chief financial officer in determining which programs and services will best meet the future needs of the institution.

Financial Ratio Analysis: the Development of a Dedicated Management Information System

Directory of Open Access Journals (Sweden)

Voicu-Dan Dragomir

2007-01-01

Full Text Available This paper disseminates the results of the development process for a financial analysis information system. The system has been subject to conceptual design using the Unified Modeling Language (UML and has been implemented in object-oriented manner using the Visual Basic .NET 2003 programming language. The classic financial analysis literature is focused on the chain-substitution method of computing the prior-year to current-year variation of linked financial ratios. We have applied this technique on the DuPont System of analysis concerning the Return on Equity ratio, by designing several structural UML diagrams depicting the breakdown and analysis of each financial ratio involved. The resulting computer application offers a flexible approach to the analytical tools: the user is required to introduce the raw data and the system provides both table-style and charted information on the output of computation. User-friendliness is also a key feature of this particular financial analysis application.

THE IT ANNUAL REPORTS USED IN THE FINANCIAL ANALYSIS

Directory of Open Access Journals (Sweden)

Nechita Anca

2010-07-01

Full Text Available In the paper the authors presented the importance of financial reporting system used in financial analysis of IT firms. Thus were presented balance sheet, income statement and cash flows.

Pickering safeguards: a preliminary analysis

International Nuclear Information System (INIS)

Todd, J.L.; Hodgkinson, J.G.

1977-05-01

A summary is presented of thoughts relative to a systems approach for implementing international safeguards. Included is a preliminary analysis of the Pickering Generating Station followed by a suggested safeguards system for the facility

Fundamentals of financial statement analysis for academic physician managers.

Science.gov (United States)

Danzi, J T; Boom, M L

1998-04-01

Academic medical centers (i.e., teaching hospitals) and academic medical practices are under pressure to control costs to compete with for-profit health care institutions. The authors explain how academic physician managers who want to control costs wisely must first understand the cost structure of the medical center or practice and compare that structure with those of for-profit institutions. Doing this requires a firm understanding of how to use a valuable tool, financial statement analysis, to assess an institution's health and performance. Such analysis consists of calculating a variety of financial ratios (e.g., operating income divided by revenues; net income divided by total assets) and then comparing them with the corresponding ratios that are considered industry norms. Three types of financial statements (defined in detail) lend themselves to this approach: the balance sheet, income statement, and statement of cash flows. The authors define standard financial ratios, point out their uses and limitations, and emphasize that a ratio's meaning derives from comparing it with the corresponding benchmark ratio in the industry as a whole. Ratios should be used not as the end point of assessing financial status, but as ways to identify possible problems that require further investigation. Analysis of trends of ratios over time within an institution is a complementary approach. The authors then discuss the use of ratios in three standard types of institutional evaluation: of performance, of liquidity and leverage, and of strategic planning. In addition, they present the financial statement of a fictitious academic medical center as an example of how to use ratios for financial statement analysis. The authors emphasize that the key to using the ratios they discuss and hundreds of others is first to decide what question needs answering and then to choose the relevant ratios to provide a basis for finding the answer.

Financial analysis for the infusion alliance.

Science.gov (United States)

Perucca, Roxanne

2010-01-01

Providing high-quality, cost-efficient care is a major strategic initiative of every health care organization. Today's health care environment is transparent; very competitive; and focused upon providing exceptional service, safety, and quality. Establishing an infusion alliance facilitates the achievement of organizational strategic initiatives, that is, increases patient throughput, decreases length of stay, prevents the occurrence of infusion-related complications, enhances customer satisfaction, and provides greater cost-efficiency. This article will discuss how to develop a financial analysis that promotes value and enhances the financial outcomes of an infusion alliance.

Electricity prices in a competitive environment: Marginal cost pricing of generation services and financial status of electric utilities. A preliminary analysis through 2015

Energy Technology Data Exchange (ETDEWEB)

NONE

1997-08-01

The emergence of competitive markets for electricity generation services is changing the way that electricity is and will be priced in the United States. This report presents the results of an analysis that focuses on two questions: (1) How are prices for competitive generation services likely to differ from regulated prices if competitive prices are based on marginal costs rather than regulated {open_quotes}cost-of-service{close_quotes} pricing? (2) What impacts will the competitive pricing of generation services (based on marginal costs) have on electricity consumption patterns, production costs, and the financial integrity patterns, production costs, and the financial integrity of electricity suppliers? This study is not intended to be a cost-benefit analysis of wholesale or retail competition, nor does this report include an analysis of the macroeconomic impacts of competitive electricity prices.

The Analysis of Human Resources Policies and Regional Financial Accounting System on Regional Government Financial Statements’ Quality

Directory of Open Access Journals (Sweden)

Aida Nahar

2018-02-01

Full Text Available Accountability of local governments in the implementation of policies should be carried out with the financial statements present the quality. Qualitative characteristics of financial statements described in PP 24/ 2005 that the qualitative characteristics of financial statements is a normative measurement that needs to be realized in the accounting information that can be fulfil its purpose. To be able to raise the normative requirements, this characteristics is absolutely necessary in order to meet the government 's financial statements desired qualities are: relevant, reliable, comparable, and understandable.The population of this research is PPK-SKPD in Karesidenan Pati. Consisting of: Regency Jepara, Kudus, Pati , Rembang, Blora, and Grobogan, totally 113 SKPD with 73 respondents with a random sampling technique . Data analysis technique used is multiple regression analysis. The results mentioned that human resource policies affect the quality of financial reporting by 4.167. Implementation of the system accounting effect on the quality of financial reporting by 3.309 % . Human resources policies and implementation of accounting systems affect the quality of financial statements. This study did not succeed accept hypothesis 5 proved that the value of t = -1.021 and p = 0.311, which means that the BPK audit does not affect the relationship between the Application System Accounting for the Quality of Regional Financial Statements.

Notification: EPA’s Compliance with Statement of Federal Financial Accounting Standards No. 47 and Treasury Financial Manual, Part 2, Chapter 4700

Science.gov (United States)

Project #OA&E-FY18-0249, June 6, 2018. The OIG plans to begin preliminary research on the EPA’s compliance with the Statement of Federal Financial Accounting Standards No. 47: Reporting Entity; and Treasury Financial Manual, Part 2, Chapter 4700

A Model of System and Strategic Financial Analysis of the Crimean Health Resorts

Directory of Open Access Journals (Sweden)

Vadim Anatolyevich Malyshenko

2016-06-01

Full Text Available The subject matter of the research is the system of strategically focused financial analysis regarding an assessment of the financial condition of the enterprise. The hypothesis of the study is to assume the possibility of developing the financial and strategic model of the comprehensive assessment of the financial condition taking into account the integrated impact of environmental factors (general for the most Crimean health resorts. The methodology of the work is based on the most general principles of system analysis. The basic method of the research is the matrix method as the most common one for the system analysis. The graphical and statistical methods are also used. The result of the work is the comprehensive method of financial analysis developed as a model based on the matrix relation between the original visual profile of the internal environment and the dynamic type of external environment. The difference of the visual model of financial state from the existing graphic methods consists in fixing of the new strategic types of financial state on the basis of financial stability in visually grouped areas of financial coefficients in theme groups (configurationsprofiles with certain combinations of the forms and sizes. The new analytical instrument of «frigate model» can be applied in all analytical activities of the health resorts departments related to the analytical assessment of financial state. The advantage of «frigate model» in comparison with a classical method of the forming of the types of financial condition is that the proposed model allows to allocate more differentiated types and in addition, to identify the stages of enterprise life cycle based on the relative indicators of the analysis of financial state (objects-coefficients, and not just on the financial management. Through this, the consistency of interaction between the financial analysis and management is achieved.

Financial Analysis of the World Top IT Companies

Directory of Open Access Journals (Sweden)

Cristina ROMANCIUC

2010-01-01

Full Text Available Financial crisis has influenced all the economiesaround the world. A similar situation happened during the ITcrash. Some, even, believe the crash of the dot-com bubblecontributed to the actual situation. The rush for financialsuccess led to a whole generation of young adults immersingthemselves in technology. Nevertheless IT has an importantinfluence on nowadays economy this is the reason of thepresent study. Here will be presented one of the world largestcompanies in IT and analyzed using few financial methods(comparative statements, ratio analysis, cash flow analysis.

THEORETICAL AND METHODOLOGICAL PRINCIPLES OF THE STRATEGIC FINANCIAL ANALYSIS OF CAPITAL

Directory of Open Access Journals (Sweden)

Olha KHUDYK

2016-07-01

Full Text Available The article is devoted to the theoretical and methodological principles of strategic financial analysis of capital. The necessity of strategic financial analysis of capital as a methodological basis for study strategies is proved in modern conditions of a high level of dynamism, uncertainty and risk. The methodological elements of the strategic financial analysis of capital (the object of investigation, the indicators, the factors, the methods of study, the subjects of analysis, the sources of incoming and outgoing information are justified in the system of financial management, allowing to improve its theoretical foundations. It is proved that the strategic financial analysis of capital is a continuous process, carried out in an appropriate sequence at each stage of capital circulation. The system of indexes is substantiated, based on the needs of the strategic financial analysis. The classification of factors determining the size and structure of company’s capital is grounded. The economic nature of capital of the company is clarified. We consider that capital is a stock of economic resources in the form of cash, tangible and intangible assets accumulated by savings, which is used by its owner as a factor of production and investment resource in the economic process in order to obtain profit, to ensure the growth of owners’ prosperity and to achieve social effect.

Time averaging, ageing and delay analysis of financial time series

Science.gov (United States)

Cherstvy, Andrey G.; Vinod, Deepak; Aghion, Erez; Chechkin, Aleksei V.; Metzler, Ralf

2017-06-01

We introduce three strategies for the analysis of financial time series based on time averaged observables. These comprise the time averaged mean squared displacement (MSD) as well as the ageing and delay time methods for varying fractions of the financial time series. We explore these concepts via statistical analysis of historic time series for several Dow Jones Industrial indices for the period from the 1960s to 2015. Remarkably, we discover a simple universal law for the delay time averaged MSD. The observed features of the financial time series dynamics agree well with our analytical results for the time averaged measurables for geometric Brownian motion, underlying the famed Black-Scholes-Merton model. The concepts we promote here are shown to be useful for financial data analysis and enable one to unveil new universal features of stock market dynamics.

The Fusion of Financial Analysis and Seismology: Statistical Methods from Financial Market Analysis Applied to Earthquake Data

Science.gov (United States)

Ohyanagi, S.; Dileonardo, C.

2013-12-01

As a natural phenomenon earthquake occurrence is difficult to predict. Statistical analysis of earthquake data was performed using candlestick chart and Bollinger Band methods. These statistical methods, commonly used in the financial world to analyze market trends were tested against earthquake data. Earthquakes above Mw 4.0 located on shore of Sanriku (37.75°N ~ 41.00°N, 143.00°E ~ 144.50°E) from February 1973 to May 2013 were selected for analysis. Two specific patterns in earthquake occurrence were recognized through the analysis. One is a spread of candlestick prior to the occurrence of events greater than Mw 6.0. A second pattern shows convergence in the Bollinger Band, which implies a positive or negative change in the trend of earthquakes. Both patterns match general models for the buildup and release of strain through the earthquake cycle, and agree with both the characteristics of the candlestick chart and Bollinger Band analysis. These results show there is a high correlation between patterns in earthquake occurrence and trend analysis by these two statistical methods. The results of this study agree with the appropriateness of the application of these financial analysis methods to the analysis of earthquake occurrence.

Oil prices and financial stress: A volatility spillover analysis

International Nuclear Information System (INIS)

Nazlioglu, Saban; Soytas, Ugur; Gupta, Rangan

2015-01-01

This paper examines whether there is a volatility transmission between oil prices and financial stress by means of the volatility spillover test. We employ WTI crude oil prices and Cleveland financial stress index for the period 1991–2014 and divide the sample into pre-crisis, in-crisis, and post-crisis periods due to the downward trend in oil price in 2008. The volatility model estimations indicate that oil prices and financial stress index are dominated by long-run volatility. The volatility spillover causality test supports evidence on risk transfer from oil prices to financial stress before the crisis and from financial stress to oil prices after the crisis. The impulse response analysis shows that the volatility transmission pattern has similar dynamics before and after the crisis and is characterized by higher and long-lived effects during the crisis. Our results have implications for both policy makers and investors, and for future work. -- Highlights: •Volatility spillover between oil prices and financial stress index is examined. •Analysis is conducted for sub-periods: pre-crisis, in-crisis, and post-crisis •Oil prices spill on financial stress before the crisis, but spillover reversed after the crisis. •Volatility transmission pattern has similar dynamics before and after the crisis. •Implications for investors and policy makers are discussed

Improving the usefulness of accounting data in financial analysis

Directory of Open Access Journals (Sweden)

A Saville

2004-04-01

Full Text Available Accounting practices are flawed.  As a consequence, the accounting data generated by firms are generally open to interpretation, often misleading and sometimes patently false.  Yet, financial analysts place tremendous confidence in accounting data when appraising investments and investment strategies.  The implications of financial analysis based on questionable information are numerous, and range from inexact analysis to acute investment error.  To rectify this situation, this paper identifies a set of simple, yet highly effective corrective measures, which have the capacity to move accounting practice into a realm wherein accounting starts to ‘count what counts’.  The net result would be delivery of accounting data that more accurately reflect firms’ economic realities and, as such, are more useful in the task of financial analysis.

Financial analysis of wind power projects

International Nuclear Information System (INIS)

Juanico, Luis E.; Bergallo, Juan E.

1999-01-01

In this work a financial assessment of the economic competitiveness of wind power projects in Argentina compared with other no CO 2 emission sources, such as nuclear, was developed. Argentina has a market driven electrical grid system, and no greenhouse gas emissions penalty taxes, together with a very low natural gas cost and a sustained nuclear development program. For the financial analysis an average wind velocity source of 8 m/s, on several wind farms (from 2 machines to 60) built with new technology wind generators (750 kilowatts power, 900 dollar/kilowatt cost) operating over 20 years, was considered. The leveled cost obtained is decreasing while the number of machines is increasing, from 0,130 dollar/kilowatt-hour to 0,090 dollar/kilowatts-hour. This poor performance can be partially explained considering the higher interest rates in the argentine financial market (15%) than the ones in developed countries

Financial Health of the Higher Education Sector: 2015-16 Financial Results. Data Analysis. March 2017/02

Science.gov (United States)

Higher Education Funding Council for England, 2016

2016-01-01

This report provides an overview of the financial health of the Higher Education Funding Council for England (HEFCE) funded higher education sector in England. The analysis covers the financial results for 2015-16. This does not include further education or sixth-form colleges, or alternative providers of higher education.

A technical and financial analysis of two recuperated, reciprocating engine driven power plants. Part 2: Financial analysis

International Nuclear Information System (INIS)

Orbaiz, Pedro Jose; Brear, Michael J.

2014-01-01

Highlights: • The financial performance of two hybrid power plants is analyzed. • Biomass and solar thermal energy are used as the renewable energy inputs. • The LCOE of both power plants is estimated using reference data. • The proposed power plants are of comparable LCOE to natural gas combined cycle. • Hybrid cycles resulted in cost-effective renewable energy generation. - Abstract: This paper is the second of a two part study that analyses the technical and financial performance of particular, recuperated engine systems. This second paper examines the financial performance of two hybrid (renewable/fossil), chemically recuperated power plants. One of these plants uses the combustion of biomass as the renewable energy input. The other assumes that solar thermal energy is used. This financial analysis estimates the so-called Levelized Cost of Electricity (LCOE) of both hybrids using reference data from several sources. Using consistent financial inputs, the LCOE of both hybrid plants is found to be comparable to the LCOE of natural gas combined cycle (NGCC) power generation. Further, the LCOE of the renewable portion of the hybrid plants’ total power output is significantly cheaper than that of all the renewable plants examined in the EPRI report, and is competitive with the fossil plants. As a result, the proposed hybrids appear to be a cost-effective form of greenhouse gas mitigation

Analysis of enterprise financial liquidity on the example of the confectioner's trade

Directory of Open Access Journals (Sweden)

Zbigniew Gołaś

2009-01-01

Full Text Available The article shows results of the analysis of the financial liquidity of enterprise on the example of Jutrzenka Partnership S.A., recorded on Stock Exchange/Securities Market in Warsaw. The analysis of financial liquidity was carried out for years 2000-2006 with use of the static, dynamic indicators and non-classic financial liquidity measures. The investigated partnership was characterised by well rounded level of financial liquidity in given time. However, the majority of the considered indicators show decreasing level of the financial liquidity, which is caused by stronger character of the financial liquidity management allowing generation of higher flow of income.

Multivariate Statistical Methods as a Tool of Financial Analysis of Farm Business

Czech Academy of Sciences Publication Activity Database

Novák, J.; Sůvová, H.; Vondráček, Jiří

2002-01-01

Roč. 48, č. 1 (2002), s. 9-12 ISSN 0139-570X Institutional research plan: AV0Z1030915 Keywords : financial analysis * financial ratios * multivariate statistical methods * correlation analysis * discriminant analysis * cluster analysis Subject RIV: BB - Applied Statistics, Operational Research

A BLUEPRINT OF RATIO ANALYSIS AS INFORMATION BASIS OF CORPORATION FINANCIAL MANAGEMENT

Directory of Open Access Journals (Sweden)

Maja Andrijasevic

2014-10-01

Full Text Available Ratio analysis, due to its simplicity, has, for a long time, been one of the most frequently used methods of financial analysis. However, the question is how its results are a good basis for assessment of financial condition of a company by the external users of financial reports. If one takes into account numerous limitations, one can rather say that ratio analysis is a rough approximation of financial situation. What are the limitations, can they be overcome and in what way, can they, at least, be reduced, and to what extent the user has to take a reserved attitude when making business decisions on the basis of ratio analysis? The last but not the least, we should accept the fact that by insisting on financial analysis other aspects of the analyses are, in practice frequently marginalized, thus neglecting the fact that actually they themselves in the most direct manner point to the causes of potential disorders in business activities of a company.

Exploratory Modelling of Financial Reporting and Analysis Practices in Small Growth Enterprises

OpenAIRE

Richard G. P. McMahon; Leslie G. Davies; Nicholas M. Bluhm

1994-01-01

This paper reports an exploratory study of statistical modelling of historical financial reporting and analysis in a sample of small growth enterprises. The study sought to identify those factors that determine whether particular financial reporting and analysis practices are undertaken, and to represent these explanatory factors in expressions that reflect their relative and combined influence. Dichotomous logistic regression is employed to model financial analysis and polytomous logistic re...

Preliminary HECTOR analysis by Dragon

Energy Technology Data Exchange (ETDEWEB)

Presser, W; Woloch, F

1972-06-02

From the different cores measured in HECTOR, only ACH 4/B-B was selected for the Dragon analysis, since it presented the largest amount of uniform fuel loading in the central test region and is therefore nearest to an infinite lattice. Preliminary results are discussed.

Framework for financial ratio analysis of audited federal financial reports

OpenAIRE

Brady, Richard T.

1999-01-01

Federal agencies have traditionally prepared financial reports to monitor and report the obligation and expenditure of federal funding. With the passage of the Chief Financial Officers Act of 1990, Congress called for the production of financial statements that fully disclose a federal entity's financial position and results of operations. The disclosure of this type of information, it was believed, would enable decision-makers to understand the financial implications of budgetary, policy and...

Complexity analysis based on generalized deviation for financial markets

Science.gov (United States)

Li, Chao; Shang, Pengjian

2018-03-01

In this paper, a new modified method is proposed as a measure to investigate the correlation between past price and future volatility for financial time series, known as the complexity analysis based on generalized deviation. In comparison with the former retarded volatility model, the new approach is both simple and computationally efficient. The method based on the generalized deviation function presents us an exhaustive way showing the quantization of the financial market rules. Robustness of this method is verified by numerical experiments with both artificial and financial time series. Results show that the generalized deviation complexity analysis method not only identifies the volatility of financial time series, but provides a comprehensive way distinguishing the different characteristics between stock indices and individual stocks. Exponential functions can be used to successfully fit the volatility curves and quantify the changes of complexity for stock market data. Then we study the influence for negative domain of deviation coefficient and differences during the volatile periods and calm periods. after the data analysis of the experimental model, we found that the generalized deviation model has definite advantages in exploring the relationship between the historical returns and future volatility.

FINANCIAL WELL BEING: A MULTIFACTORIAL ANALYSIS OF LUDOVICENSE’S BEHAVIOR

Directory of Open Access Journals (Sweden)

Anna Paula Carvalho Diniz

2015-12-01

Full Text Available The objective of this study is to analyze the influence of behavioral factors (materialism, financial behavior, financial attitude and financial knowledge and socioeconomic and demographic variables (gender, age, marital status, children, level of schooling, race, occupation and income in financial well-being. The study’s scenario is the city called São Luís, located in the state of Maranhão, where 629 questionnaires were obtained. To analyze the data, descriptive statistics, factor analysis and multiple linear regression have been used. Results indicate that people from Maranhão are not satisfied with their financial situation, and have presented a low level of financial well-being, which is positively influenced by aspects related to investment in saving account, financial attitude control and age.

THEORETICAL AND METHODOLOGICAL PRINCIPLES OF THE STRATEGIC FINANCIAL ANALYSIS OF CAPITAL

Directory of Open Access Journals (Sweden)

Olha KHUDYK

2016-07-01

Full Text Available The article is devoted to the theoretical and methodological principles of strategic financial analysis of capital. The necessity of strategic financial analysis of capital as a methodological basis for study strategies is proved in modern conditions of a high level of dynamism, uncertainty and risk. The methodological elements of the strategic indicators, the factors, the methods of study, the subjects of analysis, the sources of incoming and outgoing information are justified in the system of financial management, allowing to improve its theoretical foundations. It is proved that the strategic financial analysis of capital is a continuous process, carried out in an appropriate sequence at each stage of capital circulation. The system of indexes is substantiated, based on the needs of the strategic financial analysis. The classification of factors determining the size and structure of company’s capital is grounded. The economic nature of capital of the company is clarified. We consider that capital is a stock of economic resources in the form of cash, tangible and intangible assets accumulated by savings, which is used by its owner as a factor of production and investment resource in the economic process in order to obtain profit, to ensure the growth of owners’ prosperity and to achieve social effect.

Licensing support system preliminary needs analysis: Volume 1

International Nuclear Information System (INIS)

1989-01-01

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

Does Financial Inclusion Induce Financial Stability? Evidence from Cross-country Analysis

Directory of Open Access Journals (Sweden)

Md. Nur Alam Siddik

2018-04-01

Full Text Available In recent times, financial inclusion and financial stability issue have become a priority on policy agendas across the world. However, there is relative dearth of empirical studies addressing and establishing the link between the same. This study fills this gap. Using panel data of 2001-2013, this study empirically investigated whether financial inclusion contributes to country’s financial stability, measured by Z-score. Robust results from GMM dynamic panel data estimator show that financial inclusion variables as measured by number of SME borrowers to total borrowers and ratio of outstanding SME loans to total loans have significant positive contributions to financial stability. Findings also indicate that GDP per capita, liquidity, proportion of private credit to GDP are positively and proportion of domestic credit provided to private sector and financial crisis are negatively associated with financial stability. Empirical findings of this study is of greater significance to the policymakers as it will invoke the attention of governments and policymakers to undertake such policies to accelerate financial inclusion of their countries which in turn will lead to country’s greater financial stability. This study also contributes to empirical literatures of the issue of financial inclusion and financial stability by reconfirming (or otherwise findings of previous studies.

FINANCIAL STATEMENTS ANALYSIS AND FIRMS’ VALUATION IN VIETNAM

OpenAIRE

Kim, Trang Thu

2009-01-01

Valuation is the central focus in fundamental analysis. This dissertation considers the usefulness of financial statements in predicting market values of companies in Vietnam stock market by adopting the valuation model constructed by Chung et al., (2001). The overview of Vietnam stock market; some definitions about financial statements, valuation; description of several basis valuation models and empirical evidence including the description of valuation model developed by Chung et al., (2001...

Planning and Analysis of the Company’s Financial Performances by Using a Software Simulation

Directory of Open Access Journals (Sweden)

Meri BOSHKOSKA

2017-06-01

Full Text Available Information Technology includes a wide range of software solution that helps managers in decision making processes in order to increase the company's business performance. Using software solution in financial analysis is a valuable tool for managers in the financial decision making process. The objective of the study was accomplished by developing Software that easily determines the financial performances of the company through integration of the analysis of financial indicators and DuPont profitability analysis model. Through this software, managers will be able to calculate the current financial state and visually analyze how their actions will affect the financial performance of the company. This will enable them to identify the best ways to improve the financial performance of the company. The software can perform a financial analysis and give a clear, useful overview of the current business performance and can also help in planning the growth of the company. The Software can also be implemented in educational purposes for students and managers in the field of financial management.

Independent management and financial review, Yucca Mountain Project, Nevada. Final report, Appendix

International Nuclear Information System (INIS)

1995-01-01

The Nuclear Waste Policy Act of 1982 (Public Law 97-425), as amended by Public Law 100-203, December 22, 1987, established the Office of Civilian Radioactive Waste Management (OCRWM) within the Department of Energy (DOE), and directed the Office to investigate a site at Yucca Mountain, Nevada, to determine if this site is suitable for the construction of a repository for the disposal of high level nuclear waste. Work on site characterization has been under way for several years. Thus far, about $1.47 billion have been spent on Yucca Mountain programs. This work has been funded by Congressional appropriations from a Nuclear Waste Fund to which contributions have been made by electric utility ratepayers through electric utilities generating power from nuclear power stations. The Secretary of Energy and the Governor of the State of Nevada have appointed one person each to a panel to oversee an objective, independent financial and management evaluation of the Yucca Mountain Project. The Requirements for the work will include an analysis of (1) the Yucca Mountain financial and, contract management techniques and controls; (2) Project schedules and credibility of the proposed milestones; (3) Project organizational effectiveness and internal planning processes, and (4) adequacy of funding levels and funding priorities, including the cost of infrastructure and scientific studies. The recipient will provide monthly progress report and the following reports/documents will be presented as deliverables under the contract: (1) Financial and Contract Management Preliminary Report; (2) Project Scheduling Preliminary Report; (3)Project Organizational Effectiveness Preliminary Report; (4) Project Funding Levels and Funding Priorities Preliminary Report; and (5) Final Report

Independent management and financial review, Yucca Mountain Project, Nevada. Final report, Appendix

Energy Technology Data Exchange (ETDEWEB)

NONE

1995-07-15

The Nuclear Waste Policy Act of 1982 (Public Law 97-425), as amended by Public Law 100-203, December 22, 1987, established the Office of Civilian Radioactive Waste Management (OCRWM) within the Department of Energy (DOE), and directed the Office to investigate a site at Yucca Mountain, Nevada, to determine if this site is suitable for the construction of a repository for the disposal of high level nuclear waste. Work on site characterization has been under way for several years. Thus far, about $1.47 billion have been spent on Yucca Mountain programs. This work has been funded by Congressional appropriations from a Nuclear Waste Fund to which contributions have been made by electric utility ratepayers through electric utilities generating power from nuclear power stations. The Secretary of Energy and the Governor of the State of Nevada have appointed one person each to a panel to oversee an objective, independent financial and management evaluation of the Yucca Mountain Project. The Requirements for the work will include an analysis of (1) the Yucca Mountain financial and, contract management techniques and controls; (2) Project schedules and credibility of the proposed milestones; (3) Project organizational effectiveness and internal planning processes, and (4) adequacy of funding levels and funding priorities, including the cost of infrastructure and scientific studies. The recipient will provide monthly progress report and the following reports/documents will be presented as deliverables under the contract: (1) Financial and Contract Management Preliminary Report; (2) Project Scheduling Preliminary Report; (3)Project Organizational Effectiveness Preliminary Report; (4) Project Funding Levels and Funding Priorities Preliminary Report; and (5) Final Report.

Framework for Financial Ratio Analysis of Audited Federal Financial Reports

National Research Council Canada - National Science Library

Brady, Richard

1999-01-01

.... With the passage of the Chief Financial Officers Act of 1990, Congress called for the production of financial statements that fully disclose a federal entity's financial position and results of operations...

ANALYSIS OF THE INFLUENCE OF A COMPANY’S INDEBTEDNESS ON THE FINANCIAL RISK

Directory of Open Access Journals (Sweden)

LĂPĂDUȘI MIHAELA LOREDANA

2015-06-01

Full Text Available Awareness of indebtedness and financial risk represents a great importance not only for the management of the company but also for creditors, investors, institutional investors, rating agencies, etc. An indebtedness analysis implies its effect on financial risk through financial lever coefficient or the financial lever. A financial lever is a notion originating in physics and it is the force that is applied in order to give a boost of a process or a phenomenon. However, in economics that notion was adapted and can be regarded as the strenght of different financial categories, financial instruments used in order to give a boost in a certain sense to various economic processes or activities in order to achieve the established objectives. More specifically we can say that the financial lever or the financial leverage expresses the impact of the financial structure over the company’s profitability. The research aims at analysing indebtedness and its influence over the financial risk and all the aspects underlined in the present article will prove the assumption that a company's performance and its capacity to produce profit depends mainly on the management and the use of financial resources. The purpose of present article is to highlight the impact of indebtedness over financial risk through the financial lever. The main objectives of the article set out to achieve this purpose are: the theoretical approach of a company's overall indebtedness, the analysis of the financial levers, and the analysis of the positive and negative leverage effects.

Comparative Analysis of Liability Cases for Bankruptcies of Financial Institutions

Directory of Open Access Journals (Sweden)

Julija Kiršienė

2017-09-01

Full Text Available The bankruptcy of the fourth largest investment bank in the world Lehman Brothers Holdings Inc. in 2008 remains the largest bankruptcy in the history of United States. This bankruptcy is viewed as a turning point in the Global Financial Crisis. Paradoxically, even though the financial system had many safeguards (auditors, audit committees, the board of directors, credit rating agencies, government supervisors whose purpose was to inform the investing public about the actual financial situation of the institution, Lehman Brothers bankruptcy came as a shock to financial markets across the globe revealing that many of the “gatekeepers” failed. Comparative analysis of liability cases after bankruptcies of Lehman Brothers and financial institutions in Lithuania shows that contrary to Lehman’s case, the demise of financial institutions in Lithuania cannot be attributed to sub-prime mortgages caused financial crisis, real estate market fluctuations or any other external variable. Problems are related to weak supervision, inefficient regulation, and common unethical behavior in the financial sector.

ECONOMIC AND FINANCIAL ANALYSIS OF THE BUILDINGS REHABILITATION SOLUTIONS

Directory of Open Access Journals (Sweden)

STAN IVAN F.E.

2016-07-01

Full Text Available The paper includes a simplified economical and financial analysis of the buildings rehabilitation solutions, for heating and lighting. The most important economic and financial indicators analyzed and determined are: economic return on investment and payback period of investment in dynamic form, net present value, and internal rate of return economic residual value of the investment on thermal insulation, building maintenance costs, energy costs. In order to reduce the electricity consumption: the methods consisted in replacing inefficient lighting with some efficient energy and for heat consumption: the proposed solution was building rehabilitation (exterior wall insulation, floor insulation board. The analysis consists in determining the economical and financial indicators before and after the building rehabilitation. The 3 rooms apartment is located in Craiova town, (wind zone IV, 2nd floor, orientation is S.

Original Article PRELIMINARY BIOAUTOGRAPHIC ANALYSIS OF ...

African Journals Online (AJOL)

PRELIMINARY BIOAUTOGRAPHIC ANALYSIS OF THE SEEDS OF GLYPHAEA BREVIS. (SPRENG) MONACHINO FOR ANTIOXIDANT AND ANTIBACTERIAL PRINCIPLES. Michael Lahai1, Tiwalade Adewale Olugbade2. 1Department of Pharmaceutical Chemistry, Faculty of Pharmaceutical Sciences, College of Medicine ...

Licensing Support System: Preliminary data scope analysis

International Nuclear Information System (INIS)

1989-01-01

The purpose of this analysis is to determine the content and scope of the Licensing Support System (LSS) data base. Both user needs and currently available data bases that, at least in part, address those needs have been analyzed. This analysis, together with the Preliminary Needs Analysis (DOE, 1988d) is a first effort under the LSS Design and Implementation Contract toward developing a sound requirements foundation for subsequent design work. These reports are preliminary. Further refinements must be made before requirements can be specified in sufficient detail to provide a basis for suitably specific system specifications. This document provides a baseline for what is known at this time. Additional analyses, currently being conducted, will provide more precise information on the content and scope of the LSS data base. 23 refs., 4 figs., 8 tabs

Financial consumer protection and customer satisfaction. A relationship study by using factor analysis and discriminant analysis

Directory of Open Access Journals (Sweden)

Marimuthu SELVAKUMAR

2015-11-01

Full Text Available This paper tries to make an attempt to study the relationship between the financial consumer protection and customer satisfaction by using factor analysis and discriminant analysis. The main objectives of the study are to analyze the financial consumer protection in commercial banks, to examine the customer satisfaction of commercial banks and to identify the factors of financial consumer protection lead customer satisfaction. There are many research work carried out on financial consumer protection in financial literacy, but the identification of factors which lead the financial consumer protection and the relationship between financial consumer protection and the customer satisfaction is very important, Particularly for banks to improve its quality and increase the customer satisfaction. Therefore this study is carried out with the aim of identifying the factors of financial consumer protection and its influence on customer satisfaction. This study is both descriptive and analytical in nature. It covers both primary and secondary data. The primary data has been collected from the customers of commercial banks using pre-tested interview schedule and the secondary data has been collected from standard books, journals, magazines, websites and so on.

A Financial Analysis of Brazilian Hospitals Between 2006 and 2011

Directory of Open Access Journals (Sweden)

Antônio Artur de Souza

2014-12-01

Full Text Available This paper presents the results of a research that aimed at developing a financial analysis of a sample of Brazilian hospitals between 2006 and 2011. The data were collected from financial statements of 23 hospitals and from the Database of United Health System. These secondary data were analyzed through the following techniques: descriptive statistics, Spearman’s correlation, Kolmogorov-Smirnov’s test, Kruskal-Wallis’ test and Chi-square’s test. It was verified that the sample presents unsatisfactory general results about financial performance, especially when related to financial ratios of profitability and return. However, the analysis of different categories of hospitals displays relevant and significant divergences, especially about the type of hospitals: publics and voluntaries ones. The voluntary hospitals present higher liquidity ratios and the best profitability and their capital structure usually focus on long term financing obtained from external agents. These evidences suggest that those organizations focus on financial leverage to achieve better results without deteriorate their liquidity. On the other hand, the public hospitals present lower liquidity as well as worse profitability and return ratios. It was verified that the large-sized hospitals usually present lower financial ratios (liquidity, profitability and return than the medium-sized hospitals.

Financial liberalization and economic growth : A meta-analysis

NARCIS (Netherlands)

Bumann, Silke; Hermes, Niels; Lensink, Robert

This study provides a systematic analysis of the empirical literature on the relationship between financial liberalization and economic growth by conducting a meta-analysis, based on 441 t-statistics reported in 60 empirical studies. We focus on explaining the heterogeneity of results in our sample

Review of Preliminary Analysis Techniques for Tension Structures.

Science.gov (United States)

1984-02-01

however,a linear dinamic analysis can be conducted for purposes of preliminary design, relative to the static configuration. It is noted that the amount of...16 Chapter 3. PRELIMINARY DESIGN OF TENSION STRUCTURES . . .. .. .. .... 22 S.3.1 Cable Systems . . . . . . . . . . . . .. .. .. .... 23...3.1.1 Singly-Connected Segments. .. .... ... 24 3.1.2 Multiply-Connected Segments . . .. .. .. .. 27 3.1.3 Linearized Dynamics of Cable Systems . . . . 29

Analysis Brazilian preference shares: financial liabilities or equity instruments?

Directory of Open Access Journals (Sweden)

Diana Lucia de Almeida

2016-05-01

Full Text Available The Brazilian preference shares, in general, except when they present specific features, such as mandatory redemption and cumulative dividends, meet the accounting definition of equity instruments. However, the scientific literature believes that those shares that do not have discretion to avoid the delivery of cash must be classified as financial liabilities. In a context in which remain differences of understanding of their proper accounting treatment, the following question arises: preferred shares of Brazilian companies are being recognized in the financial statements in accordance with the theoretical and normative precepts? Thus, the aim of this study is to verify if the preference shares of Brazilian companies have been recognized in the financial statements for according to the scientific literature and accounting standards. Through content analysis, we analyzed the information of 157 companies listed on BM&FBOVESPA. The results show that 155 companies classify its preference shares as equity instruments and two as financial liabilities. These two companies, as well as 149 of those which qualify as equity instruments, are treating them properly in its accounting. The other six companies should present its preference shares as liabilities, given the absence of discretion to avoid cash delivery, feature present in financial liabilities, unlike equity instruments. It is noticed that, unlike what happens, for instance, in the US market, it is not possible to classify all Brazilian preference shares as a financial liability, since, in Brazil , they are used in different legal format of those widely found in that market. Moreover, almost all of the analyzed shares have essential features for classification as equity instruments. Hence, the importance of analysis of the economic essence of each instrument, thus, enabling the appropriate accounting treatment in the financial statements.

Correlation and network analysis of global financial indices.

Science.gov (United States)

Kumar, Sunil; Deo, Nivedita

2012-08-01

Random matrix theory (RMT) and network methods are applied to investigate the correlation and network properties of 20 financial indices. The results are compared before and during the financial crisis of 2008. In the RMT method, the components of eigenvectors corresponding to the second largest eigenvalue form two clusters of indices in the positive and negative directions. The components of these two clusters switch in opposite directions during the crisis. The network analysis uses the Fruchterman-Reingold layout to find clusters in the network of indices at different thresholds. At a threshold of 0.6, before the crisis, financial indices corresponding to the Americas, Europe, and Asia-Pacific form separate clusters. On the other hand, during the crisis at the same threshold, the American and European indices combine together to form a strongly linked cluster while the Asia-Pacific indices form a separate weakly linked cluster. If the value of the threshold is further increased to 0.9 then the European indices (France, Germany, and the United Kingdom) are found to be the most tightly linked indices. The structure of the minimum spanning tree of financial indices is more starlike before the crisis and it changes to become more chainlike during the crisis. The average linkage hierarchical clustering algorithm is used to find a clearer cluster structure in the network of financial indices. The cophenetic correlation coefficients are calculated and found to increase significantly, which indicates that the hierarchy increases during the financial crisis. These results show that there is substantial change in the structure of the organization of financial indices during a financial crisis.

The use of a break-even analysis: financial analysis of a fast-track program.

Science.gov (United States)

Saywell, R M; Cordell, W H; Nyhuis, A W; Giles, B K; Culler, S D; Woods, J R; Chu, D K; McKinzie, J P; Rodman, G H

1995-08-01

To calculate the financial break-even point and illustrate how changes in third-party reimbursement and eligibility could affect a program's fiscal standing. Demographic, clinical, and financial data were collected retrospectively for 446 patients treated in a fast-track program during June 1993. The fast-track program is located within the confines of the emergency medicine and trauma center at a 1,050-bed tertiary care Midwestern teaching hospital and provides urgent treatment to minimally ill patients. A financial break-even analysis was performed to determine the point where the program generated enough revenue to cover its total variable and fixed costs, both direct and indirect. Given the relatively low average collection rate (62%) and high percentage of uninsured patients (31%), the analysis showed that the program's revenues covered its direct costs but not all of the indirect costs. Examining collection rates or payer class mix without examining both costs and revenues may lead to an erroneous conclusion about a program's fiscal viability. Sensitivity analysis also shows that relatively small changes in third-party coverage or eligibility (income) requirements can have a large impact on the program's financial solvency and break-even volumes.

A preliminary assessment of financial stability, efficiency, health systems and health outcomes using performance-based contracts in Belize.

Science.gov (United States)

Bowser, Diana M; Figueroa, Ramon; Natiq, Laila; Okunogbe, Adeyemi

2013-01-01

Over the last 10 years, Belize has implemented a National Health Insurance (NHI) program that uses performance-based contracts with both public and private facilities to improve financial sustainability, efficiency and service provision. Data were collected at the facility, district and national levels in order to assess trends in financial sustainability, efficiency payments, year-end bonuses and health system and health outcomes. A difference-in-difference approach was used to assess the difference in technical efficiency between private and public facilities. The results show that per capita spending on services provided by the NHI program has decreased over the period 2006-2009 from BZ$177 to BZ$136. The private sector has achieved higher levels of technical efficiency, but lower percentages of efficiency and year-end bonus payments. Districts with contracts through the NHI program showed greater improvements in facility births, nurse density, reducing maternal mortality, diabetes deaths and morbidity from bronchitis, emphysema and asthma than districts without contracts over the period 2006-2010. This preliminary assessment of Belize's pay-for-performance system provides some positive results, however further research is needed to use the lessons learned from Belize to implement similar reforms in other systems.

Comparative financial analysis of electricity utilities in West Africa

International Nuclear Information System (INIS)

Fritsch, Remi

2011-01-01

Access to electricity is a major issue in West Africa. Governments have a difficult equation to solve. They naturally seek to offer their people a cheap kWh. But they are constrained by a production based largely on oil and therefore highly volatile production costs. How to fix an acceptable tariff, taking into account the investment needs required to expand the network and increase production? This analysis should provide some answers. The study presented in this paper provides a financial analysis of electricity utilities in West Africa. It allows a comparison of performances on a number of key financial ratios related to operations (Earning Before Interest Taxes Debt and Amortization/sales, working capital requirement/sales, days of receivables or payables), investment (net fixed assets/gross fixed assets), bank financing (financial structure, debt/EBITDA, interest expense/EBITDA) and economic and financial returns (Return On Capital Employed, Return On Equity). The conclusion focuses on the growth opportunity that the electricity sector could represent for each country. But this opportunity may only materialize if the EBITDA margins are restored. The available options appear limited and must be assessed taking into account the context of each country: tariff increase, improvement of technical losses or diversification into means of production no longer based primarily on oil or gas. - Highlights: → The study provides a financial analysis of electricity distribution companies in West Africa. → The study highlights generally insufficient EBITDA margins. → The study raises the question of tariffs and contribution to Gross Domestic Product of the electricity sector. → The conclusion focuses on the growth opportunity that the electricity sector could represent for each country.

Preliminary failure mode and effect analysis

International Nuclear Information System (INIS)

Addison, J.V.

1972-01-01

A preliminary Failure Mode and Effect Analysis (FMEA) was made on the overall 5 Kwe system. A general discussion of the system and failure effect is given in addition to the tabulated FMEA and a primary block diagram of the system. (U.S.)

Non-Financial Reporting in Croatia: Current Trends Analysis and Future Perspectives

Directory of Open Access Journals (Sweden)

Adriana Galant

2017-03-01

Full Text Available Non-financial reporting forms part of corporate reporting. Among other, it includes disclosure of information regarding corporate social responsibility (CSR/sustainability issues and as such represent the supplement to the information provided by financial statements. Compared to the financial reporting, non-financial reporting is voluntary in majority of countries, including Croatia. Thus, companies decide on their own whether to disclose on this issue or not. Considering its voluntariness, the aim of this paper is to determine the current state of non-financial reporting in Croatia by identifying the financial characteristics of companies disclosing non-financial reports. In data analysis, the logistic regression was used. The research was conducted on a sample of Croatian publicly listed companies. Obtained results indicate that larger, more profitable and efficient companies are more probable to disclose non-financial reports, while indebtedness is not significant for it. In addition, further development of corporate social accounting is required, as well as promotion of non-financial reporting benefits.

Preliminary Analysis of Reinforced Concrete Waffle Walls

National Research Council Canada - National Science Library

Shugar, Theodore

1997-01-01

A preliminary analytical method based upon modified plate bending theory is offered for structural analysis of a promising new construction method for walls of small buildings and residential housing...

Attention-deficit/hyperactivity disorder, delay discounting, and risky financial behaviors: A preliminary analysis of self-report data.

Science.gov (United States)

Beauchaine, Theodore P; Ben-David, Itzhak; Sela, Aner

2017-01-01

Delay discounting-often referred to as hyperbolic discounting in the financial literature-is defined by a consistent preference for smaller, immediate rewards over larger, delayed rewards, and by failure of future consequences to curtail current consummatory behaviors. Previous research demonstrates (1) excessive delay discounting among individuals with attention-deficit/hyperactivity disorder (ADHD), (2) common neural substrates of delay discounting and hyperactive-impulsive symptoms of ADHD, and (3) associations between delay discounting and both debt burden and high interest rate borrowing. This study extends prior research by examining associations between ADHD symptoms, delay discounting, and an array of previously unevaluated financial outcomes among 544 individuals (mean age 35 years). Controlling for age, income, sex, education, and substance use, ADHD symptoms were associated with delay discounting, late credit card payments, credit card balances, use of pawn services, personal debt, and employment histories (less time spent at more jobs). Consistent with neural models of reward processing and associative learning, more of these relations were attributable to hyperactive-impulsive symptoms than inattentive symptoms. Implications for financial decision-making and directions for future research are discussed.

Measuring financial performance: an overview of financial statements.

Science.gov (United States)

Dalsted, N L

1995-07-01

Financial management has emerged as a critical component in the long-term viability of today's ranches and farms. Proper and timely financial reporting and analysis of financial statements are valuable tools that agricultural producers can use to monitor, coordinate, and plan their operational production and marketing schemes and strategies. A side note to preparation of financial statements. With the concerns over lender liability issues associated with statements either assisted with or prepared by a lending officer, agricultural producers will be responsible for preparing their own statements. The lending institutions may prepare their own statements in their assessment of the financial condition of a business and or individual, but, ultimately, the responsibility of financial statements is the borrower's. Some of the material presented in this article provides important input for use in such analytical programs as the National Cattlemen's Association, Integrated Resource Committees, and Standard Performance Analysis (SPA). SPA techniques and associated software have been or currently are under development for cow-calf, stocker, seedstock, and sheep enterprises. Critical to the analysis is having complete and correct financial statements. These analytical programs build on the financial statements. These analytical programs build on the financial statements as recommended by the FFSTF. Proper financial reporting is critical not only to a SPA assessment but also to the overall financial management of today's farms and ranches. Recognizing the importance of financial management in production agriculture is not enough, taking a proactive stance in one's financial plan is paramount to success. Failure to do so will only enhance the exit rates of producers from production agriculture.

Inflation and Financial Statement Analysis in the International Accounting Classroom

Science.gov (United States)

Riordan, Diane A.; Riordan, Michael P.

2009-01-01

This article provides an exercise for students to contemplate the effects of inflation during financial statement analysis. Even small amounts of inflation accumulating over time can grow to distort a company's reported financial position and results of operations. The growing economies in emerging markets, the international market for oil, and…

Financial Distress Prediction using Linear Discriminant Analysis and Support Vector Machine

Science.gov (United States)

Santoso, Noviyanti; Wibowo, Wahyu

2018-03-01

A financial difficulty is the early stages before the bankruptcy. Bankruptcies caused by the financial distress can be seen from the financial statements of the company. The ability to predict financial distress became an important research topic because it can provide early warning for the company. In addition, predicting financial distress is also beneficial for investors and creditors. This research will be made the prediction model of financial distress at industrial companies in Indonesia by comparing the performance of Linear Discriminant Analysis (LDA) and Support Vector Machine (SVM) combined with variable selection technique. The result of this research is prediction model based on hybrid Stepwise-SVM obtains better balance among fitting ability, generalization ability and model stability than the other models.

A wood-waste fuelled, indirectly-fired gas turbine cogeneration plant for sawmill application. Phase 1. Preliminary engineering design and financial evaluation

Energy Technology Data Exchange (ETDEWEB)

1986-02-01

Most sawmills generate more than enough wood waste to be potentially self-sufficient in both dry-kiln heat and electricity requirements. It is not generally economically viable to use conventional steam/electricty cogeneration systems at the sawmill scale of operation. As a result, Canadian sawmills are still large consumers of purchased fuels and electricity. The overall objective of this project was to develop a cost-effective wood waste-fired power generation and lumber drying system for sawmill applications. The system proposed and evaluated in this project is a wood waste-fuelled, indirectly-fired gas turbine cogeneration plant. Research, design, and development of the system has been planned to take place in a number of phases. Phase 1 consists of a preliminary engineering design and financial evaluation of the system, the subjects of this report. The results indicate that the proposed indirectly-fired gas turbine cogeneration system is both technically and financially feasible under a variety of conditions. 8 figs., 8 tabs.

Financial Development and Inclusive Growth in Nigeria: A Threshold Analysis

Directory of Open Access Journals (Sweden)

Taofeek Olusola Ayinde

2016-10-01

Full Text Available This study investigates the relationship between financial development and inclusive growth in Nigeria for the period 1980 – 2013. The technique of analysis is the quantile regression; which is to obtain a threshold for which the former impacts on the latter. The result shows a threshold level of 90th percentile. Interestingly, the study also found that the impact of financial development on inclusive growth depends on the measure of the former up to the threshold level and not beyond. Through a granger causality test, the direction of causality is through the inclusive growth rather than through financial development; through the financial deepening measure. While the study found that either a low level or high level of openness on trade and capital investment are desirable for inclusive growth in Nigeria, the results also reveal that government involvement in the workings of the Nigeria economy and financial openness are sensitive to the pattern of financial development. With financial deepening, both are negatively related to inclusive growth but positively related to inclusive growth when financial widening is considered. This suggests that government intervention in the activities of the private sector is detrimental when the latter are to drive financial development process. However, the involvement of government in ensuring the appropriate level of financial widening, through the central bank operations, produces a positive impact on growth.

Financial Development and Inclusive Growth in Nigeria: A Threshold Analysis

Directory of Open Access Journals (Sweden)

Taofeek Olusola Ayinde

2016-08-01

Full Text Available This study investigates the relationship between financial development and inclusive growth in Nigeria for the period 1980 – 2013. The technique of analysis is the quantile regression; which is to obtain a threshold for which the former impacts on the latter. The result shows a threshold level of 90th percentile. Interestingly, the study also found that the impact of financial development on inclusive growth depends on the measure of the former up to the threshold level and not beyond. Through a granger causality test, the direction of causality is through the inclusive growth rather than through financial development; through the financial deepening measure. While the study found that either a low level or high level of openness on trade and capital investment are desirable for inclusive growth in Nigeria, the results also reveal that government involvement in the workings of the Nigeria economy and financial openness are sensitive to the pattern of financial development. With financial deepening, both are negatively related to inclusive growth but positively related to inclusive growth when financial widening is considered. This suggests that government intervention in the activities of the private sector is detrimental when the latter are to drive financial development process. However, the involvement of government in ensuring the appropriate level of financial widening, through the central bank operations, produces a positive impact on growth.

Attention-deficit/hyperactivity disorder, delay discounting, and risky financial behaviors: A preliminary analysis of self-report data.

Directory of Open Access Journals (Sweden)

Theodore P Beauchaine

Full Text Available Delay discounting-often referred to as hyperbolic discounting in the financial literature-is defined by a consistent preference for smaller, immediate rewards over larger, delayed rewards, and by failure of future consequences to curtail current consummatory behaviors. Previous research demonstrates (1 excessive delay discounting among individuals with attention-deficit/hyperactivity disorder (ADHD, (2 common neural substrates of delay discounting and hyperactive-impulsive symptoms of ADHD, and (3 associations between delay discounting and both debt burden and high interest rate borrowing. This study extends prior research by examining associations between ADHD symptoms, delay discounting, and an array of previously unevaluated financial outcomes among 544 individuals (mean age 35 years. Controlling for age, income, sex, education, and substance use, ADHD symptoms were associated with delay discounting, late credit card payments, credit card balances, use of pawn services, personal debt, and employment histories (less time spent at more jobs. Consistent with neural models of reward processing and associative learning, more of these relations were attributable to hyperactive-impulsive symptoms than inattentive symptoms. Implications for financial decision-making and directions for future research are discussed.

Russia’s Financial Markets and Financial Institutions in 2013

OpenAIRE

Alexander Abramov

2014-01-01

This paper deals with a wide scope of issues, starting with the post-crisis recovery of Russia's financial market. The author analyzes the market for shares issued by Russian companies, investigates dependence on the global conjuncture of prices and inflow and outflow of foreign portfolio investment. He also studies currency exchange rate, looks at the competition on the domestic share market, and analyzes preliminary results of the merger of the RTS and MICEX. The article deals with the mark...

Russia’s Financial Markets and Financial Institutions in 2012

OpenAIRE

Alexander Abramov

2013-01-01

This paper deals with a wide scope of issues, starting with the post-crisis recovery of Russia's financial market. The author analyzes the market for shares issued by Russian companies, investigates dependence on the global conjuncture of prices and inflow and outflow of foreign portfolio investment. He also studies currency exchange rate, looks at the competition on the domestic share market, and analyzes preliminary results of the merger of the RTS and MICEX. The article deals with the mark...

Does financial education impact financial literacy and financial behavior, and if so, when?

OpenAIRE

Kaiser, Tim; Menkhoff, Lukas

2017-01-01

A meta-analysis of 126 impact evaluation studies finds that financial education significantly impacts financial behavior and, to an even larger extent, financial literacy. These results also hold for the subsample of randomized experiments (RCTs). However, intervention impacts are highly heterogeneous: financial education is less effective for low-income clients as well as in low- and lowe...

FY16 Analysis report: Financial systems dependency on communications

Energy Technology Data Exchange (ETDEWEB)

Beyeler, Walter E.

2017-03-01

Within the Department of Homeland Security (DHS), the Office of Cyber and Infrastructure Analysis (OCIA)'s National Infrastructure Simulation and Analysis Center (NISAC) develops capabilities to support the DHS mission and the resilience of the Nation’s critical infrastructure. At Sandia National Laboratories, under DHS/OCIA direction, NISAC is developing models of financial sector dependence on communications. This capability is designed to improve DHS's ability to assess potential impacts of communication disruptions to major financial services and the effectiveness of possible mitigations. This report summarizes findings and recommendations from the application of that capability as part of the FY2016 NISAC program plan.

Agent-based financial dynamics model from stochastic interacting epidemic system and complexity analysis

International Nuclear Information System (INIS)

Lu, Yunfan; Wang, Jun; Niu, Hongli

2015-01-01

An agent-based financial stock price model is developed and investigated by a stochastic interacting epidemic system, which is one of the statistical physics systems and has been used to model the spread of an epidemic or a forest fire. Numerical and statistical analysis are performed on the simulated returns of the proposed financial model. Complexity properties of the financial time series are explored by calculating the correlation dimension and using the modified multiscale entropy method. In order to verify the rationality of the financial model, the real stock market indexes, Shanghai Composite Index and Shenzhen Component Index, are studied in comparison with the simulation data of the proposed model for the different infectiousness parameters. The empirical research reveals that this financial model can reproduce some important features of the real stock markets. - Highlights: • A new agent-based financial price model is developed by stochastic interacting epidemic system. • The structure of the proposed model allows to simulate the financial dynamics. • Correlation dimension and MMSE are applied to complexity analysis of financial time series. • Empirical results show the rationality of the proposed financial model

Agent-based financial dynamics model from stochastic interacting epidemic system and complexity analysis

Energy Technology Data Exchange (ETDEWEB)

Lu, Yunfan, E-mail: yunfanlu@yeah.net; Wang, Jun; Niu, Hongli

2015-06-12

An agent-based financial stock price model is developed and investigated by a stochastic interacting epidemic system, which is one of the statistical physics systems and has been used to model the spread of an epidemic or a forest fire. Numerical and statistical analysis are performed on the simulated returns of the proposed financial model. Complexity properties of the financial time series are explored by calculating the correlation dimension and using the modified multiscale entropy method. In order to verify the rationality of the financial model, the real stock market indexes, Shanghai Composite Index and Shenzhen Component Index, are studied in comparison with the simulation data of the proposed model for the different infectiousness parameters. The empirical research reveals that this financial model can reproduce some important features of the real stock markets. - Highlights: • A new agent-based financial price model is developed by stochastic interacting epidemic system. • The structure of the proposed model allows to simulate the financial dynamics. • Correlation dimension and MMSE are applied to complexity analysis of financial time series. • Empirical results show the rationality of the proposed financial model.

Latent class models in financial data analysis

Directory of Open Access Journals (Sweden)

Attilio Gardini

2007-10-01

Full Text Available This paper deals with optimal international portfolio choice by developing a latent class approach based on the distinction between international and non-international investors. On the basis of micro data, we analyze the effects of many social, demographic, economic and financial characteristics on the probability to be an international investor. Traditional measures of equity home bias do not allow for the existence of international investment rationing operators. On the contrary, by resorting to latent class analysis it is possible to detect the unobservable distinction between international investors and investors who are precluded from operating into international financial markets and, therefore, to evaluate the role of these unobservable constraints on equity home bias.

FINANCIAL INNOVATIONS IN THE STRATEGIC ANALYSIS OF BANK BUSINESS

Directory of Open Access Journals (Sweden)

A. N. Rasskazova

2013-01-01

Full Text Available In paper we identified the financial innovations in the strategic analysis of bank business. On the real data analytical research is executed and empirical proofs of practical applicability of the new financial performance, allowing to create the mechanism of strategic management by shareholder value in bank are received. The received results can be used for monitoring of acceptance of managerial decisions from the party and in interests of owners of bank

Preliminary hazards analysis -- vitrification process

International Nuclear Information System (INIS)

Coordes, D.; Ruggieri, M.; Russell, J.; TenBrook, W.; Yimbo, P.

1994-06-01

This paper presents a Preliminary Hazards Analysis (PHA) for mixed waste vitrification by joule heating. The purpose of performing a PHA is to establish an initial hazard categorization for a DOE nuclear facility and to identify those processes and structures which may have an impact on or be important to safety. The PHA is typically performed during and provides input to project conceptual design. The PHA is then followed by a Preliminary Safety Analysis Report (PSAR) performed during Title 1 and 2 design. The PSAR then leads to performance of the Final Safety Analysis Report performed during the facility's construction and testing. It should be completed before routine operation of the facility commences. This PHA addresses the first four chapters of the safety analysis process, in accordance with the requirements of DOE Safety Guidelines in SG 830.110. The hazards associated with vitrification processes are evaluated using standard safety analysis methods which include: identification of credible potential hazardous energy sources; identification of preventative features of the facility or system; identification of mitigative features; and analyses of credible hazards. Maximal facility inventories of radioactive and hazardous materials are postulated to evaluate worst case accident consequences. These inventories were based on DOE-STD-1027-92 guidance and the surrogate waste streams defined by Mayberry, et al. Radiological assessments indicate that a facility, depending on the radioactive material inventory, may be an exempt, Category 3, or Category 2 facility. The calculated impacts would result in no significant impact to offsite personnel or the environment. Hazardous materials assessment indicates that a Mixed Waste Vitrification facility will be a Low Hazard facility having minimal impacts to offsite personnel and the environment

Preliminary hazards analysis -- vitrification process

Energy Technology Data Exchange (ETDEWEB)

Coordes, D.; Ruggieri, M.; Russell, J.; TenBrook, W.; Yimbo, P. [Science Applications International Corp., Pleasanton, CA (United States)

1994-06-01

This paper presents a Preliminary Hazards Analysis (PHA) for mixed waste vitrification by joule heating. The purpose of performing a PHA is to establish an initial hazard categorization for a DOE nuclear facility and to identify those processes and structures which may have an impact on or be important to safety. The PHA is typically performed during and provides input to project conceptual design. The PHA is then followed by a Preliminary Safety Analysis Report (PSAR) performed during Title 1 and 2 design. The PSAR then leads to performance of the Final Safety Analysis Report performed during the facility`s construction and testing. It should be completed before routine operation of the facility commences. This PHA addresses the first four chapters of the safety analysis process, in accordance with the requirements of DOE Safety Guidelines in SG 830.110. The hazards associated with vitrification processes are evaluated using standard safety analysis methods which include: identification of credible potential hazardous energy sources; identification of preventative features of the facility or system; identification of mitigative features; and analyses of credible hazards. Maximal facility inventories of radioactive and hazardous materials are postulated to evaluate worst case accident consequences. These inventories were based on DOE-STD-1027-92 guidance and the surrogate waste streams defined by Mayberry, et al. Radiological assessments indicate that a facility, depending on the radioactive material inventory, may be an exempt, Category 3, or Category 2 facility. The calculated impacts would result in no significant impact to offsite personnel or the environment. Hazardous materials assessment indicates that a Mixed Waste Vitrification facility will be a Low Hazard facility having minimal impacts to offsite personnel and the environment.

Quality of Financial Policies and Financial System Stress

OpenAIRE

Udaibir S Das; Plamen Yossifov; Richard Podpiera; Dmitriy L Rozhkov

2005-01-01

In this paper, we develop multi-country indices of financial system stress and quality of financial policies and use them in regression analysis of the determinants of financial stress. We find that countries with higher quality of financial policies are better able to contain the effects of macroeconomic pressures on the overall level of stress in the financial system. They are also in a better position to ensure sustainable development of the financial system.

Finanční analýza účetní jednotky ABC/Financial Analysis of Company ABC

OpenAIRE

Kaprálová, Aneta

2009-01-01

This thesis is focused on financial analysis of company ABC that works in rubber industry. First part is aimed at theoretical interpretation of financial analysis, its goals, history, users and sources. Attention is paid to sources of information especially financial statements. Further basic methods are defined, which financial analysis uses. Ratios are described in this thesis above all. At the close there is practical display of financial analysis based on data from financial statements of...

Alternative financial institutions? Sustainability, development, social reproduction, and gender analysis.

Science.gov (United States)

Kidder, T

1999-08-01

This paper proposes a conceptual framework for alternative financial institutions in Nicaragua. The article includes a discussion on innovative services and policies, which differentiate CARUNA (National Savings and Credit Cooperative ¿Caja Rural¿), and other financial institutions from conventional banks. It further examines theories that have altered the way development practitioners think about the economy, poverty reduction, and the positions of men and women in the society. These theories are the feminist economic theory and alternative development theories. Specific ways to incorporate the concepts of alternative and feminist economic theories in the design of financial institutions include open credit, savings, and remittance mechanisms, and coordinating councils. The gender analysis approach was used to evaluate the design of financial institutions.

Financial Literacy and Credit Card Behaviors: A Cross-Sectional Analysis by Age

Directory of Open Access Journals (Sweden)

Sam Allgood

2013-07-01

Full Text Available In this study, we use a measure of financial literacy that includes both a test score of actual financial literacy and a self-rating of perceived financial literacy to investigate how financial literacy affects five credit card behaviors: (1 always paying a credit card balance in full; (2 carrying over a credit card balance and being charged interest; (3 making only a minimum payment on a credit card balance; (4 being charged a fee for a late payment; and (5 being charged a fee for exceeding a credit limit. Probit analysis was used to assess each behavior with a large nationally representative sample of U.S. adults (N = 28,146 divided into groups to reflect the five major decades in the adult life cycle (18–29; 30–39; 40–49; 50–59; and 60–69 and older. Perceived financial literacy was found to be a stronger predictor of less costly practices in credit card use than actual financial literacy for the five credit card behaviors and across each of the five age groups. The study also shows that the combination of the subjective assessment with the objective assessment of financial literacy provides a more comprehensive analysis of how financial literacy affects each credit card behavior. This combined approach to assessment produced the largest estimates of the effects of financial literacy on credit card behavior. The findings hold across the five credit card behaviors and the five age groups.

Financial integration and financial development in transition economies: What happens during financial crises?

Directory of Open Access Journals (Sweden)

Igor Masten

2011-12-01

Full Text Available

This paper provides an empirical analysis of the role of financial development and financial integration in the growth dynamics of transition countries. We focus on the role of financial integration in determining the impact of financial development on growth, distinguishing “normal times” from periods of financial crises. In addition to confirming the significant positive effect on growth exerted by financial development and financial integration, our estimates show that a higher degree of financial openness tends to reduce the contractionary effect of financial crises, by cushioning the effect on the domestic supply of credit. Consequently, the high reliance on international capital flows by transition countries does not necessarily increase their financial fragility. This implies that financial protectionism is a self-defeating policy, at least for transition countries.

Financial Condition Analysis In Municipalities: A Case Of Turkey

OpenAIRE

ÖZKUL, Fatma; ALKAN, Betül Şeyma

2017-01-01

This study included the analysis of prepared comprehensive financial statements with the transitionto accrual-based accounting system from cash-based accounting system in the public institutionsin 2006. In Turkey, there is no specific method developed to the goals of public institutions. GASB 1Reporting Model, which is a model developed in the USA, and is not yet used in Turkey, has been appliedby taking financial statements data of the Istanbul Metropolitan Municipality. The study was carrie...

Financial bubbles analysis with a cross-sectional estimator

OpenAIRE

Abergel, Frederic; Huth, Nicolas; Toke, Ioane Muni

2009-01-01

We highlight a very simple statistical tool for the analysis of financial bubbles, which has already been studied in [1]. We provide extensive empirical tests of this statistical tool and investigate analytically its link with stocks correlation structure.

 Basic assumptions and definitions in the analysis of financial leverage

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Tomasz Berent

2015-12-01

Full Text Available The financial leverage literature has been in a state of terminological chaos for decades as evidenced, for example, by the Nobel Prize Lecture mistake on the one hand, and the global financial crisis on the other. A meaningful analysis of the leverage phenomenon calls for the formulation of a coherent set of assumptions and basic definitions. The objective of the paper is to answer this call. The paper defines leverage as a value neutral concept useful in explaining the magnification effect exerted by financial activity upon the whole spectrum of financial results. By adopting constructivism as a methodological approach, we are able to introduce various types of leverage such as capital and income, base and non-base, accounting and market value, for levels and for distances (absolute and relative, costs and simple etc. The new definitions formulated here are subsequently adopted in the analysis of the content of leverage statements used by the leading finance textbook.

Logistic regression analysis of financial literacy implications for retirement planning in Croatia

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Dajana Barbić

2016-12-01

Full Text Available The relationship between financial literacy and financial behavior is important, as individuals are increasingly being asked to take responsibility for their financial wellbeing, especially their retirement. Analyzing of individual savings and attitudes towards retirement planning is important, as these types of investments are a way of preserving security during years of financial vulnerability. Research indicates that individuals who do not save adequately for their retirement, generally have a relatively low level of financial literacy. This research investigates the relationship between financial literacy and retirement planning in Croatia. To analyze the relationship between financial literacy and planning for retirement, maximum likelihood logistic regression analysis was used. The paper shows that those who answer financial literacy questions correctly are more likely to have a positive attitude towards retirement planning and are more likely to save for retirement, ensuring them of higher levels of financial security in retirement. The Goodness-of-Fit evaluation for the estimated logit model was performed using the Andrews and Hosmer-Lemeshow Tests.

Financial Analysis for Phase 1 Privatization for the Tank Farm Contractor

International Nuclear Information System (INIS)

BASCHE, A.D.

2000-01-01

The purpose of the Financial Analysis for Phase 1 Privatization for the Tank Farm Contractor is to provide a third-party quantitative and qualitative cost and schedule risk analysis of HNF-1946. The purpose of this Financial Analysis for Phase 1 Privatization for the Tank Farm Contractor (TFC) is to document the results of the risk-based financial analysis of HNF-1946, Programmatic Baseline Summary for Phase 1 Privatization f o r the Tank Farm Contractor (Diediker 2000). This analysis was performed to evaluate how well the proposed baseline meets the U. S. Department of Energy, Office of River Protection (ORP) Letter OO-MSO-009, ''Contract NO. DE-AC06-99RL14047--The US Department of Energy, Office of River Protection (ORP) Mission Planning Guidance for Fiscal Year (FY) 2002--Revision 1'' (Short 2000). The letter requires a confidence level in the baseline schedule that is consistent with the Phase 1A readiness-to-proceed (RTP) assessment conducted in fiscal year (FY) 1998. Because the success of the project depends not only on the budget but also on the schedule, this risk analysis addresses both components of the baseline

An Analysis of the Readability of Financial Accounting Textbooks.

Science.gov (United States)

Smith, Gerald; And Others

1981-01-01

The Flesch formula was used to calculate the readability of 15 financial accounting textbooks. The 15 textbooks represented introductory, intermediate, and advanced levels and also were classified by five different publishers. Two-way analysis of variance and Tukey's post hoc analysis revealed some significant differences. (Author/CT)

[Analysis of financial statements of Japanese private hospitals (1982-1991)].

Science.gov (United States)

Matsuda, S; Murata, H

1996-06-01

In order to clarify the financial situation of Japanese private hospitals, the financial statements provided by the Social Welfare and Medical Service Corporation were analyzed for the period from 1982 to 1991. The results clarified the low growth rate and low profitability of the Japanese private hospitals, although their financial situation was relatively stable. However, the efficiency of cost has been stalled in recent years and profitability has been declining due to the low turnover rate of capital. According to the CVP analysis, the Profit volume ratio of the investigated hospitals has been increased to the level of 95%. This situation means that, in the current financial situation, more than half of the Japanese private hospitals will go into the red if revenue declines 5% due to some short term change in the managerial environment.

The analysis of financial risk management application for NPP project in Indonesia

International Nuclear Information System (INIS)

Imam Bastori; Moch Djoko Birmano

2012-01-01

NPP Project is one of full dynamic, risky and challenging business. Application of financial risk management t in Nuclear Power Plant (NPP) project becomes one alternative to be considered carefully. This paper explains an analysis to make a decision in the risk management application so that it can be applied in the NPP's construction in Indonesia. As case study, is NPP of conventional PWR type of class 1150 MWe. To calculate the economics and financing of NPP is used Spreadsheet INOVASI, further the decision of financial risk management were analyzed using a Model of Cash Flow Adjustment, which developed by Richard Fairchild. The analysis showed that the Method of Cash Flow Adjustment developed by Richard Fairchild is better than the method of NPV Adjustment on a NPP project, because it have included the aspects of financial risk management. NPP project can only be executed if the NPV 2 0 and decision to execute the financial risk management should be based on NPVrm > NPV. The application of financial risk management in NPP project is not needed if an insurance premium more expensive than all costs of financial distress, unless the insurance company can give discount of at least 20%. (author)

ANALYSIS OF THE MAIN STRUCTURAL CHARACTERISTICS OF THE ROMANIAN FINANCIAL SYSTEM

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Marius Constantin Apostoaie

2011-12-01

Full Text Available To know and to understand the factors within a financial system that significantly influences the institutions behaviour and the market responses to the central bank actions is of great importance for the monetary authorities and for the achievement of their monetary policy objectives. In Romania, the National Bank must pay special attention to financial institutions given their significant role in the process of financial intermediation (bank-based system. This study aims to conduct an investigation of the main coordinates of the Romanian financial system that are relevant for the study of the monetary policy transmission mechanism. The study focuses on the following features of the Romanian financial system: financial deepening, the existence of a bank-based system, the concentration degree of the Romanian banking sector, the balance sheet structure of monetary financial institutions and the soundness of the banking system. The study also considers the effects of the recent financial market turmoil on the financial system. The span of the empirical study covers the period after 2000 but brings to the forefront the period before and after October 2008. We believe that this research provides useful information for a future analysis of the Romanian monetary policy transmission mechanism.

The Financial Analysis with Focus of Risks in the Banking System

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Aleisky González-Duany

2017-06-01

Full Text Available The article consists in exposes the importance, need and convenience to develop a financial analysis with focus of risks in the banking activity to avoid damages and to take exactly and opportunity decisions. This analysis linked with bank risks will allow to the banking system measuring the efficiency in the different services that you render, detecting the different inherent risks to the financial activity with a former focus before, for the sake of giving fulfillment to the organizational goals

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

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Hakimi Abdelaziz

2011-01-01

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

The Engineering Mechanism in Formation of Informational Basis of Analysis of Financial Sustainability of Enterprise

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Chumak Oksana V.

2017-12-01

Full Text Available The article is aimed at substantiating the mechanism and instruments of financial and accountancy engineering with purpose of formation of information support of analysis of financial sustainability in the enterprise management system. The essence and preconditions of introduction of financial and accountancy engineering are disclosed. Expediency of application of the financial engineering mechanism at enterprise while analyzing financial sustainability has been substantiated. An analysis of methods of formation and use of derivative balance reports was carried out. Models of the conception of mechanisms and instruments of financial and accountancy engineering in analyzing the financial sustainability of enterprise have been suggested. A mega-accounts system in the working plan of the enterprise’s accounts has been recommended. Seven iterations have been provided, which constitute the basis of accounting-analytical support of the accountancy engineering. The information obtained on the basis of the financial and accountancy engineering mechanism allows to carry out real assessment of the enterprise’s financial sustainability.

Multivariate time series analysis with R and financial applications

CERN Document Server

Tsay, Ruey S

2013-01-01

Since the publication of his first book, Analysis of Financial Time Series, Ruey Tsay has become one of the most influential and prominent experts on the topic of time series. Different from the traditional and oftentimes complex approach to multivariate (MV) time series, this sequel book emphasizes structural specification, which results in simplified parsimonious VARMA modeling and, hence, eases comprehension. Through a fundamental balance between theory and applications, the book supplies readers with an accessible approach to financial econometric models and their applications to real-worl

Information Base of Financial Analysis of Educational Institutions of Higher Education

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Alexander A. Galushkin

2015-12-01

Full Text Available In this article author analyzes issues related to the formation of information base analysis of the financial condition of educational institutions of higher education. Author notes that are significantly different principles of financial (accounting statements of non-governmental and government (budget of educational institutions of higher professional education. In conclusion, author notes that when analyzing the financial condition of the group of higher professional education institutions, they can be classified into subgroups, depending on the benefits of a species (subspecies of funding and revenue.

Preliminary safety analysis report for the TFTR

International Nuclear Information System (INIS)

Lind, K.E.; Levine, J.D.; Howe, H.J.

A Preliminary Safety Analysis Report has been prepared for the Tokamak Fusion Test Reactor. No accident scenarios have been identified which would result in exposures to on-site personnel or the general public in excess of the guidelines defined for the project by DOE

Business strategy and financial structure: an empirical analysis of acute care hospitals.

Science.gov (United States)

Ginn, G O; Young, G J; Beekun, R I

1995-01-01

This study investigated the relationship between business strategy and financial structure in the U.S. hospital industry. We studied two dimensions of financial structure--liquidity and leverage. Liquidity was assessed by the acid ratio, and leverage was assessed using the equity funding ratio. Drawing from managerial, finance, and resource dependence perspectives, we developed and tested hypotheses about the relationship between Miles and Snow strategy types and financial structure. Relevant contextual financial and organizational variables were controlled for statistically through the Multivariate Analysis of Covariance technique. The relationship between business strategy and financial structure was found to be significant. Among the Miles and Snow strategy types, defenders were found to have relatively high liquidity and low leverage. Prospectors typically had low liquidity and high leverage. Implications for financial planning, competitive assessment, and reimbursement policy are discussed.

FINANCIAL DEPTH AND FINANCIAL ACCESS IN INDONESIA

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Sigit Setiawan

2015-05-01

Full Text Available This study is intended to analyze the current levels of financial depth and financial access in Indonesia and to analyze the factors affecting them. The analysis method used was a combination of descriptive quantitative, benchmarking, and literature reviews. The conclusion is that the financial depth in Indonesia has not shown a satisfactory level since it was the lowest, or the second lowest ranked country among the sampled countries. Meanwhile, the financial access in Indonesia is relatively better than its financial depth, especially for financial markets, in which Indonesia ranks in the lower average group. From literature reviews, it can be inferred that the main factor driving the poor financial depth in Indonesia is non-competitiveness of the institutions; whereas the driving force of poor financial access in Indonesia are geographical constraints, poverty, a high income gap, and a less than effective national financial development policy.

FINANCIAL DEPTH AND FINANCIAL ACCESS IN INDONESIA

OpenAIRE

Sigit Setiawan

2015-01-01

This study is intended to analyze the current levels of financial depth and financial access in Indonesia and to analyze the factors affecting them. The analysis method used was a combination of descriptive quantitative, benchmarking, and literature reviews. The conclusion is that the financial depth in Indonesia has not shown a satisfactory level since it was the lowest, or the second lowest ranked country among the sampled countries. Meanwhile, the financial access in Indonesia is relativel...

Financial Performance Analysis of Selected Commercial Banks in ...

African Journals Online (AJOL)

user

Correspondance ..... According to BPP (2012) there are limitations of financial ratios analysis such as: .... Finally, in 2012, Nib was the leader in efficiency at RoA of 4.7%. This shows ..... strategies should be put in place to continue its growth in its earnings.

UNEARTHING GLOBAL FINANCIAL INCLUSION LEVELS AND ANALYSIS OF FINANCIAL INCLUSION AS A MEDIATING FACTOR IN GLOBAL HUMAN DEVELOPMENT

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Roshny Unnikrishnan

2015-04-01

Full Text Available This study is a result of the author’s inquisition to unearth the current values of Global Financial Inclusion and its relationship with economic growth measured by Gross Domestic product(GDP and human development measured by United Nations Human Development Index (HDI. The Financial Inclusion (FI levels are measured using Index for Financial Inclusion .The relationship between GDP and HDI with FI as mediator, using multiple regression, is validated on a global level based on data of 162 countries for the year 2011. An overall global mediation analysis is undertaken to establish Financial Inclusion as a mediating factor and partial mediation on human development is validated. The study is valid and unique in the global context of income inequality prevailing in developed, developing and underdeveloped countries as it validates the argument that an impressive GDP performance does not ensure equity in economic growth.

Using Internet Resources in Teaching Financial Reporting and Analysis of Multinational Enterprises.

Science.gov (United States)

Agami, Abdel M.

2003-01-01

Provides some sources of corporate financial information on the Internet and illustrates how to use these resources in teaching international business and, more specifically, financial reporting and analysis of multinational enterprises. Points out some of the advantages and limitations of these resources. (EV)

A Social Network Analysis of the Financial Links Backing Health and Fitness Apps.

Science.gov (United States)

Grundy, Quinn; Held, Fabian; Bero, Lisa

2017-11-01

To identify the major stakeholders in mobile health app development and to describe their financial relationships using social network analysis. We conducted a structured content analysis of a purposive sample of prominent health and fitness apps available in November 2015 in the United States, Canada, and Australia. We conducted a social network analysis of apps' developers, investors, other funding sources, and content advisors to describe the financial relationships underpinning health app development. Prominent health and fitness apps are largely developed by private companies based in North America, with an average of 4.7 (SD = 5.5) financial relations, including founders, external investors, acquiring companies, and commercial partnerships. Network analysis revealed a core of 41 sampled apps connected to 415 other entities by 466 financial relations. This core largely comprised apps published by major technology, pharmaceutical, and fashion corporations. About one third of apps named advisors, many of whom had commercial affiliations. Public health needs to extend its scrutiny and advocacy beyond the health messages contained within apps to understanding commercial influences on health and, when necessary, challenging them.

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

Science.gov (United States)

McCue, Michael J.; Nayar, Preethy

2009-01-01

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

Financial incentives for exercise adherence in adults: systematic review and meta-analysis.

Science.gov (United States)

Mitchell, Marc S; Goodman, Jack M; Alter, David A; John, Leslie K; Oh, Paul I; Pakosh, Maureen T; Faulkner, Guy E

2013-11-01

Less than 5% of U.S. adults accumulate the required dose of exercise to maintain health. Behavioral economics has stimulated renewed interest in economic-based, population-level health interventions to address this issue. Despite widespread implementation of financial incentive-based public health and workplace wellness policies, the effects of financial incentives on exercise initiation and maintenance in adults remain unclear. A systematic search of 15 electronic databases for RCTs reporting the impact of financial incentives on exercise-related behaviors and outcomes was conducted in June 2012. A meta-analysis of exercise session attendance among included studies was conducted in April 2013. A qualitative analysis was conducted in February 2013 and structured along eight features of financial incentive design. Eleven studies were included (N=1453; ages 18-85 years and 50% female). Pooled results favored the incentive condition (z=3.81, p1 year), and two studies found exercise adherence persisted after the incentive was withdrawn. Promising incentive design feature attributes were noted. Assured, or "sure thing," incentives and objective behavioral assessment in particular appear to moderate incentive effectiveness. Previously sedentary adults responded favorably to incentives 100% of the time (n=4). The effect estimate from the meta-analysis suggests that financial incentives increase exercise session attendance for interventions up to 6 months in duration. Similarly, a simple count of positive (n=8) and null (n=3) effect studies suggests that financial incentives can increase exercise adherence in adults in the short term (<6 months). © 2013 American Journal of Preventive Medicine.

FINANCIAL DEPTH AND FINANCIAL ACCESS IN INDONESIA

OpenAIRE

Sigit Setiawan

2015-01-01

This study is intended to analyse the current levels of financial depth and financial access in Indonesia and to analyse the factors affecting them. The analysis method used was a combination of descriptive quantitative, benchmarking, and literature reviews. The conclusion is that the financial depth in Indonesia has not shown a satisfactory level since it was the lowest, or the second lowest ranked country among the sampled countries. Meanwhile, the financial access in Indonesia is relativel...

Financial Depth and Financial Access in Indonesia

OpenAIRE

Setiawan, Sigit

2015-01-01

This study is intended to analyse the current levels of financial depth and financial access in Indonesia and to analyse the factors affecting them. The analysis method used was a combination of descriptive quantitative, benchmarking, and literature reviews. The conclusion is that the financial depth in Indonesia has not shown a satisfactory level since it was the lowest, or the second lowest ranked country among the sampled countries. Meanwhile, the financial access in Indonesia is relativel...

Financial condition analysis ın municipalities: a case of turkey

OpenAIRE

ÖZKUL, Fatma; ALKAN, Betül Şeyma

2017-01-01

This study included the analysis of prepared comprehensive financial statements with the transition to accrual-based accounting system from cash-based accounting system in the public institutions in 2006. In Turkey, there is no specific method developed to the goals of public institutions. GASB 1 Reporting Model, which is a model developed in the USA, and is not yet used in Turkey, has been applied by taking financial statements data of the Istanbul Metropolitan Municipality. ...

Multiscale multifractal multiproperty analysis of financial time series based on Rényi entropy

Science.gov (United States)

Yujun, Yang; Jianping, Li; Yimei, Yang

This paper introduces a multiscale multifractal multiproperty analysis based on Rényi entropy (3MPAR) method to analyze short-range and long-range characteristics of financial time series, and then applies this method to the five time series of five properties in four stock indices. Combining the two analysis techniques of Rényi entropy and multifractal detrended fluctuation analysis (MFDFA), the 3MPAR method focuses on the curves of Rényi entropy and generalized Hurst exponent of five properties of four stock time series, which allows us to study more universal and subtle fluctuation characteristics of financial time series. By analyzing the curves of the Rényi entropy and the profiles of the logarithm distribution of MFDFA of five properties of four stock indices, the 3MPAR method shows some fluctuation characteristics of the financial time series and the stock markets. Then, it also shows a richer information of the financial time series by comparing the profile of five properties of four stock indices. In this paper, we not only focus on the multifractality of time series but also the fluctuation characteristics of the financial time series and subtle differences in the time series of different properties. We find that financial time series is far more complex than reported in some research works using one property of time series.

Structure and Connectivity Analysis of Financial Complex System Based on G-Causality Network

Science.gov (United States)

Xu, Chuan-Ming; Yan, Yan; Zhu, Xiao-Wu; Li, Xiao-Teng; Chen, Xiao-Song

2013-11-01

The recent financial crisis highlights the inherent weaknesses of the financial market. To explore the mechanism that maintains the financial market as a system, we study the interactions of U.S. financial market from the network perspective. Applied with conditional Granger causality network analysis, network density, in-degree and out-degree rankings are important indicators to analyze the conditional causal relationships among financial agents, and further to assess the stability of U.S. financial systems. It is found that the topological structure of G-causality network in U.S. financial market changed in different stages over the last decade, especially during the recent global financial crisis. Network density of the G-causality model is much higher during the period of 2007-2009 crisis stage, and it reaches the peak value in 2008, the most turbulent time in the crisis. Ranked by in-degrees and out-degrees, insurance companies are listed in the top of 68 financial institutions during the crisis. They act as the hubs which are more easily influenced by other financial institutions and simultaneously influence others during the global financial disturbance.

Financial Structure Analysis of Publicly Held Lodging Companies: An International Comparison

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Erdinç KARADENİZ

2015-12-01

Full Text Available The aim of this study is to analyze financial structure and preference of lodging companies that issues traded in European and Turkish stock markets by using ratio analysis technique. In this context, statements of financial positions of 51 lodging companies from European stock markets and 12 lodging companies from Borsa Istanbul used and calculated 10 financial structure ratios for each company between 2011-2012-2013 years. In the results of ratio analysis, it is determined that Turkish lodging companies use mainly equity while European lodging companies prefer liabilities and debt to finance their activities. In respect to maturity of liabilities it is determined that European lodging companies prefer long term debt while Turkish lodging companies use short term liabilities. Finally, it is determined that European lodging companies use leasing but no Turkish lodging companies to choose leasing.

Approaches to defining «financial potential» concept as of economic analysis object

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O.M. Dzyubenkо

2017-12-01

Full Text Available The research analyzes the works of scientists who studied the issues of financial potential as an economic category. Due to analyzing the approaches of the scientists to the concept of "financial potential" the author identifies six approaches to the interpretation of its essence, they are: the totality of the enterprise financial resources, the sources of the enterprise economic activity financing, the enterprise economic activity development, the enterprise financial indicators, the system of enterprise financial management, the enterprise efficiency characteristics. It is established that the financial potential is the multifaceted category that characterizes the financial and economic activity of enterprises. The author's definition of the financial potential in the context of its place in the objects of economic analysis is proposed. It is established that the financial potential is the object of the enterprise economic activity management and is the subject to analytical assessments for establishing its state and directions of development.

Preliminary Hazard Analysis applied to Uranium Hexafluoride - UF6 production plant

International Nuclear Information System (INIS)

Tomzhinsky, David; Bichmacher, Ricardo; Braganca Junior, Alvaro; Peixoto, Orpet Jose

1996-01-01

The purpose of this paper is to present the results of the Preliminary hazard Analysis applied to the UF 6 Production Process, which is part of the UF 6 Conversion Plant. The Conversion Plant has designed to produce a high purified UF 6 in accordance with the nuclear grade standards. This Preliminary Hazard Analysis is the first step in the Risk Management Studies, which are under current development. The analysis evaluated the impact originated from the production process in the plant operators, members of public, equipment, systems and installations as well as the environment. (author)

Preliminary conceptual design and analysis on KALIMER reactor structures

International Nuclear Information System (INIS)

Kim, Jong Bum

1996-10-01

The objectives of this study are to perform preliminary conceptual design and structural analyses for KALIMER (Korea Advanced Liquid Metal Reactor) reactor structures to assess the design feasibility and to identify detailed analysis requirements. KALIMER thermal hydraulic system analysis results and neutronic analysis results are not available at present, only-limited preliminary structural analyses have been performed with the assumptions on the thermal loads. The responses of reactor vessel and reactor internal structures were based on the temperature difference of core inlet and outlet and on engineering judgments. Thermal stresses from the assumed temperatures were calculated using ANSYS code through parametric finite element heat transfer and elastic stress analyses. While, based on the results of preliminary conceptual design and structural analyses, the ASME Code limits for the reactor structures were satisfied for the pressure boundary, the needs for inelastic analyses were indicated for evaluation of design adequacy of the support barrel and the thermal liner. To reduce thermal striping effects in the bottom are of UIS due to up-flowing sodium form reactor core, installation of Inconel-718 liner to the bottom area was proposed, and to mitigate thermal shock loads, additional stainless steel liner was also suggested. The design feasibilities of these were validated through simplified preliminary analyses. In conceptual design phase, the implementation of these results will be made for the design of the reactor structures and the reactor internal structures in conjunction with the thermal hydraulic, neutronic, and seismic analyses results. 4 tabs., 24 figs., 4 refs. (Author)

Corporate social responsibility: a real options approach to the challenge of financial sustainability.

Science.gov (United States)

Bosch-Badia, Maria-Teresa; Montllor-Serrats, Joan; Tarrazon-Rodon, Maria-Antonia

2015-01-01

In contemporary complex societies, social values like ethics, corporate social responsibility, and being respectful with the environment, among others, are becoming social requirements. Corporations are expected to fulfill them and, according to empirical evidence, an overwhelming majority aspires to good social valuation. At the same time, the maximization of market share value in the long run continues to be the central corporate goal. Making environmental and social expenses compatible with value creation is a central challenge for corporations since it implies the financial sustainability of Corporate Social Responsibility (CSR). The value creation capacity of CSR projects, mainly through innovation, is widely acknowledged in economic literature and corporate practice. This fact arouses the need of having a quantitative framework capable of summarizing the value creation capacity of the variables involved in CSR projects. With this aim we build up a sensitivity analysis of real option ratios that studies and quantifies the value creation capacity of CSR projects connected with innovation. Ratio analysis has the advantage of being scale independent. Hence, it furnishes a homogeneous framework to express the interaction of value creation variables and, thus, supports strategic thinking quantitatively. Often, CSR expenses can be regarded as preliminary projects that create the opportunity to undertake a full future project. For them, we obtain the minimum expectations scenario that makes financially sustainable a preliminary project that can be interpreted as a call option. We propose a classification of CSR projects from the decision analysis perspective following a two-fold approach: Their relationship with value creation and their links with existing corporate activities. This classification of CSR projects aims at contributing to choose the best capital budgeting method to study the financial sustainability of the project and identifying those CSR projects

Corporate social responsibility: a real options approach to the challenge of financial sustainability.

Directory of Open Access Journals (Sweden)

Maria-Teresa Bosch-Badia

Full Text Available In contemporary complex societies, social values like ethics, corporate social responsibility, and being respectful with the environment, among others, are becoming social requirements. Corporations are expected to fulfill them and, according to empirical evidence, an overwhelming majority aspires to good social valuation. At the same time, the maximization of market share value in the long run continues to be the central corporate goal. Making environmental and social expenses compatible with value creation is a central challenge for corporations since it implies the financial sustainability of Corporate Social Responsibility (CSR.The value creation capacity of CSR projects, mainly through innovation, is widely acknowledged in economic literature and corporate practice. This fact arouses the need of having a quantitative framework capable of summarizing the value creation capacity of the variables involved in CSR projects. With this aim we build up a sensitivity analysis of real option ratios that studies and quantifies the value creation capacity of CSR projects connected with innovation. Ratio analysis has the advantage of being scale independent. Hence, it furnishes a homogeneous framework to express the interaction of value creation variables and, thus, supports strategic thinking quantitatively. Often, CSR expenses can be regarded as preliminary projects that create the opportunity to undertake a full future project. For them, we obtain the minimum expectations scenario that makes financially sustainable a preliminary project that can be interpreted as a call option. We propose a classification of CSR projects from the decision analysis perspective following a two-fold approach: Their relationship with value creation and their links with existing corporate activities. This classification of CSR projects aims at contributing to choose the best capital budgeting method to study the financial sustainability of the project and identifying

A financial Ratio Analysis of Commercial Bank Performance in ...

African Journals Online (AJOL)

A financial Ratio Analysis of Commercial Bank Performance in South Africa. ... Journal Home > Vol 2, No 1 (2010) >. Log in or ... This paper investigates the performance of South Africa's commercial banking sector for the period 2005- 2009.

Methodological Approach to Company Cash Flows Target-Oriented Forecasting Based on Financial Position Analysis

OpenAIRE

Sergey Krylov

2012-01-01

The article treats a new methodological approach to the company cash flows target-oriented forecasting based on its financial position analysis. The approach is featured to be universal and presumes application of the following techniques developed by the author: financial ratio values correction techniques and correcting cash flows techniques. The financial ratio values correction technique assumes to analyze and forecast company financial position while the correcting cash flows technique i...

Preliminary Seismic Response and Fragility Analysis for DACS Cabinet

Energy Technology Data Exchange (ETDEWEB)

Oh, Jinho; Kwag, Shinyoung; Lee, Jongmin; Kim, Youngki [Korea Atomic Energy Research Institute, Daejeon (Korea, Republic of)

2013-05-15

A DACS cabinet is installed in the main control room. The objective of this paper is to perform seismic analyses and evaluate the preliminary structural integrity and seismic capacity of the DACS cabinet. For this purpose, a 3-D finite element model of the DACS cabinet was developed and its modal analyses are carried out to analyze the dynamic characteristics. The response spectrum analyses and the related safety evaluation are then performed for the DACS cabinet subject to seismic loads. Finally, the seismic margin and seismic fragility of the DACS cabinet are investigated. A seismic analysis and preliminary structural integrity of the DACS cabinet under self weight and SSE load have been evaluated. For this purpose, 3-D finite element models of the DACS cabinet were developed. A modal analysis, response spectrum analysis, and seismic fragility analysis were then performed. From the structural analysis results, the DACS cabinet is below the structural design limit of under SSE 0.3g, and can structurally withstand until less than SSE 3g based on an evaluation of the maximum effective stresses. The HCLPF capacity for the DGRS of the SSE 0.3g is 0.55g. A modal analysis, response spectrum analysis, and seismic fragility analysis were then performed. From the structural analysis results, the DACS cabinet is below the structural design limit of under SSE 0.3g, and can structurally withstand until less than SSE 3g based on an evaluation of the maximum effective stresses. The HCLPF capacity for the DGRS of the SSE 0.3g is 0.55g. Therefore, it is concluded that the DACS cabinet was safely designed in that no damage to the preliminary structural integrity and sufficient seismic margin is expected.

Preliminary Seismic Response and Fragility Analysis for DACS Cabinet

International Nuclear Information System (INIS)

Oh, Jinho; Kwag, Shinyoung; Lee, Jongmin; Kim, Youngki

2013-01-01

A DACS cabinet is installed in the main control room. The objective of this paper is to perform seismic analyses and evaluate the preliminary structural integrity and seismic capacity of the DACS cabinet. For this purpose, a 3-D finite element model of the DACS cabinet was developed and its modal analyses are carried out to analyze the dynamic characteristics. The response spectrum analyses and the related safety evaluation are then performed for the DACS cabinet subject to seismic loads. Finally, the seismic margin and seismic fragility of the DACS cabinet are investigated. A seismic analysis and preliminary structural integrity of the DACS cabinet under self weight and SSE load have been evaluated. For this purpose, 3-D finite element models of the DACS cabinet were developed. A modal analysis, response spectrum analysis, and seismic fragility analysis were then performed. From the structural analysis results, the DACS cabinet is below the structural design limit of under SSE 0.3g, and can structurally withstand until less than SSE 3g based on an evaluation of the maximum effective stresses. The HCLPF capacity for the DGRS of the SSE 0.3g is 0.55g. A modal analysis, response spectrum analysis, and seismic fragility analysis were then performed. From the structural analysis results, the DACS cabinet is below the structural design limit of under SSE 0.3g, and can structurally withstand until less than SSE 3g based on an evaluation of the maximum effective stresses. The HCLPF capacity for the DGRS of the SSE 0.3g is 0.55g. Therefore, it is concluded that the DACS cabinet was safely designed in that no damage to the preliminary structural integrity and sufficient seismic margin is expected

THE FINANCIAL MANAGEMENT AND REGIONAL DEVELOPMENT

Directory of Open Access Journals (Sweden)

Brindusa Tudose

2015-07-01

Full Text Available The main objective of the study is to examine the role that financial management plays in ensuring regional development. This is because the crisis, economic globalisation, the increasing external growth of companies and the institutionalisation of the autonomy of local communities have fuelled the interest in identifying alternatives to local and thereby regional development. The targeted operational objectives were: to define the preliminary coordinates of regional development; to identify the role of private and public financial management in supporting regional development; and to present the financing framework of the Siret-Prut-Nistru Euroregion. The main financial levers with a direct impact on regional economic development there are: tax incentives; using EU financing programmes; leverage based on ownership of buildings and land; business incubators, etc. The study suggests that financial management (both public and private plays an important role in the development of the Euroregion, with wide-ranging present (in the post-crisis as well as future implications.

Hydrogen Financial Analysis Scenario Tool (H2FAST). Web Tool User's Manual

Energy Technology Data Exchange (ETDEWEB)

Bush, B. [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Penev, M. [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Melaina, M. [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Zuboy, J. [Independent Consultant, Golden, CO (United States)

2015-05-11

The Hydrogen Financial Analysis Scenario Tool (H2FAST) provides a quick and convenient indepth financial analysis for hydrogen fueling stations. This manual describes how to use the H2FAST web tool, which is one of three H2FAST formats developed by the National Renewable Energy Laboratory (NREL). Although all of the formats are based on the same financial computations and conform to generally accepted accounting principles (FASAB 2014, Investopedia 2014), each format provides a different level of complexity and user interactivity.

Structure and Connectivity Analysis of Financial Complex System Based on G-Causality Network

International Nuclear Information System (INIS)

Xu Chuan-Ming; Yan Yan; Zhu Xiao-Wu; Li Xiao-Teng; Chen Xiao-Song

2013-01-01

The recent financial crisis highlights the inherent weaknesses of the financial market. To explore the mechanism that maintains the financial market as a system, we study the interactions of U.S. financial market from the network perspective. Applied with conditional Granger causality network analysis, network density, in-degree and out-degree rankings are important indicators to analyze the conditional causal relationships among financial agents, and further to assess the stability of U.S. financial systems. It is found that the topological structure of G-causality network in U.S. financial market changed in different stages over the last decade, especially during the recent global financial crisis. Network density of the G-causality model is much higher during the period of 2007–2009 crisis stage, and it reaches the peak value in 2008, the most turbulent time in the crisis. Ranked by in-degrees and out-degrees, insurance companies are listed in the top of 68 financial institutions during the crisis. They act as the hubs which are more easily influenced by other financial institutions and simultaneously influence others during the global financial disturbance. (interdisciplinary physics and related areas of science and technology)

CLUSTERING TECHNIQUES IN FINANCIAL DATA ANALYSIS APPLICATIONS ON THE U.S. FINANCIAL MARKET

Directory of Open Access Journals (Sweden)

ALEXANDRU BOGEANU

2013-08-01

Full Text Available In the economic and financial analysis, the need to classify companies in terms of categories, thedelimitation of which has to be clear and natural occurs frequently. The differentiation of companies bycategories is performed according to the economic and financial indicators which are associated to the above.The clustering algorithms are a very powerful tool in identifying the classes of companies based on theinformation provided by the indicators associated to them. The last decade imposed to the economic andfinancial practice the use of economic value added as an indicator of synthesis of the entire activity of acompany. Our study uses a sample of 106 companies in four different fields of activity; each company isidentified by: Economic Value Added, Net Income, Current Sales, Equity and Stock Price. Using the ascendinghierarchical classification methods and the partitioning classification methods, as well as Ward’s method and kmeansalgorithm, we identified on the considered sample an information structure consisting of 5 rating classes.

Analysis of Local Financial Management Transparency Based on Websites on Local Government in Java

Directory of Open Access Journals (Sweden)

Anissa Adriana

2018-03-01

Full Text Available The aim of this research is to analyze financial management transparency of local governments in Java using scoring and rating. The financial management transparency of the local governments is scored based on presentation of local financial information uploaded on each local government’s official website in Jawa in the fiscal years 2016.This research is a qualitative research with the object of research is all local government in Java. Data analysis in two levels, namely the transparency of local government financial management and identification of local government characteristics based on transparency of financial management. Data analysis in two levels, namely the transparency of local government financial management and identification of local government characteristics based on transparency of financial management. The results show that the Special Capital Region of Jakarta obtained the highest transparency index, at 58, 02% whereas Madiun Regency received the lowest transparency index, at 3, 40%. The average transparency index in Jawa for the fiscal years 2016 was still low, at only 19, 59%.The conclusion of this research is that Java regional governments consider the transparency of local financial management using less important websites because it is considered as a better thing not delivered to the public.

ANALYSIS OF FINANCE AND MARK OFF SUCCESS FINANCIAL MANAGEMENT

Directory of Open Access Journals (Sweden)

Nebojša Maksimović

2010-09-01

Full Text Available Any sports club organization is main tool for achieving his goals. If club’s basic goal – to achieve standard business performances (work characteristics and business – mark of efficiency his organization or his organizational diagnostics, demands maintenance on economic (finance analysis. In this research, with assisted program FINMEN set an example of financial management analysis in sports organizations

FINANCIAL BALANCE - BASIC TOOL IN APPROACHING FINANCIAL DIAGNOSIS FOR FIRM VALUATION

OpenAIRE

Dorel BERCEANU; Nicolae SICHIGEA; Marcel DRĂCEA

2010-01-01

This paper addresses a very topical issue, namely the importance in assessing the company's financial accounts. Thus, after a brief role in evaluating company financial diagnosis and approaches related to the concept of financial balance, we presented the financial balance sheet in terms of logic building financial stability analysis. At the end of the paper were presented some conclusions.

Financial Well-being in Active Ageing.

Science.gov (United States)

Rajola, Federico; Frigerio, Chiara; Parrichi, Monica

2014-01-01

In developed countries, economic and financial well-being is playing a crucial positive role in ageing and inclusion processes. Due to the complexity and pervasiveness of financial economy in the real life, more and more social as well as individual well-being are perceived as influenced by financial conditions. On the other hand, the demographic circumstances drive scholars as well as politicians to reflect on ageing dynamics. Bridging the two domains, the following research focuses on the role of the financial well-being as a mediating role of general well-being in elder people. The assumption is that elderly people have specific financial needs that sometimes are not covered by financial providers' offers. The motivation is mainly on the role of information asymmetries between elder consumers and financial institutions. On the dynamics of these asymmetries, the research will specifically investigate the role of financial literacy, as the ability of comprehension of elder people of their needs and of financial information. The applicative implication of this research work consists in finding the determinants of financial well-being for elders and the definition of their specific financial competencies, in order to 1) identify educational and regulatory guidelines for policy makers in charge of creating financial market transparency conditions, and to 2) support design of organizational mechanisms as well as financial product/services for this specific target of client. The following chapter presents preliminary explorative results of a survey delivered on 200 elder individuals (65-80 yrs.) leaving in Milan. Findings show that active elders consider the ability of managing personal wealth as one of the core determinant of well-being, although the economic and financial literacy is limited. Furthermore, the chapter proposes a research agenda for scholars interested in exploring the relationship between financial well-being and ageing.

Risk disclosure in the financial statements: an analysis of the notes of portuguese non-financial corporations

Directory of Open Access Journals (Sweden)

Maria de Lima e Silva

2015-09-01

Full Text Available This study aims to analyze the risk disclosure of Portuguese non-financial corporations listed in the Lisbon Euronext in 2011 and 2012. The information characteristics disseminated in risk-related material were analyzed, considering the temporal contexto, the quantitative or qualitative nature of the information, the nature and classification of the risk disclosed. The data for this study were collected through the content analysis of the notes to the reports and accounts (consolidated accounts of the entities in the study population during 2011 and 2012, resulting in a population of 36 entities. The data were then submitted to univariate and bivariate analysis techniques, based on non-parametric tests, namely the Wilcoxon test. The results demonstrate that the qualitative disclosure of financial information is predominant, referring to the past, and classified as “good news”. The research results are intended to contribute to the understanding of the theme, like in the case of the elements in the information disclosure based on risk-related material.

Financial Ratio Analysis using ARMS Data

OpenAIRE

Ahrendsen, Bruce L.; Katchova, Ani L.

2012-01-01

The purpose of this research is to evaluate the financial performance measures calculated and reported by Economic Resource Service (ERS) from ARMS data. The evaluation includes the calculation method and the underlying assumptions used in obtaining the reported values. The financial measures calculated and reported are compared with those recommended by the Farm Financial Standards Council (FFSC). The underlying assumptions are identified by analyzing the software code used in calculating th...

Methodology of the Integrated Analysis of Company's Financial Status and Its Performance Results

OpenAIRE

Mackevičius, Jonas; Valkauskas, Romualdas

2010-01-01

Information about company's financial status and its performance results is very important for the objective evaluation of company's position in the market and competitive possibilities in the future. Such information is provided in the financial statement. It is important to apply and investigate this information properly. The methodology of company's financial status and performance results integrated analysis is recommended in this article. This methodology consists of these three elements...

Preliminary Hazards Analysis Plasma Hearth Process

International Nuclear Information System (INIS)

Aycock, M.; Coordes, D.; Russell, J.; TenBrook, W.; Yimbo, P.

1993-11-01

This Preliminary Hazards Analysis (PHA) for the Plasma Hearth Process (PHP) follows the requirements of United States Department of Energy (DOE) Order 5480.23 (DOE, 1992a), DOE Order 5480.21 (DOE, 1991d), DOE Order 5480.22 (DOE, 1992c), DOE Order 5481.1B (DOE, 1986), and the guidance provided in DOE Standards DOE-STD-1027-92 (DOE, 1992b). Consideration is given to ft proposed regulations published as 10 CFR 830 (DOE, 1993) and DOE Safety Guide SG 830.110 (DOE, 1992b). The purpose of performing a PRA is to establish an initial hazard categorization for a DOE nuclear facility and to identify those processes and structures which may have an impact on or be important to safety. The PHA is typically performed during and provides input to project conceptual design. The PRA then is followed by a Preliminary Safety Analysis Report (PSAR) performed during Title I and II design. This PSAR then leads to performance of the Final Safety Analysis Report performed during construction, testing, and acceptance and completed before routine operation. Radiological assessments indicate that a PHP facility, depending on the radioactive material inventory, may be an exempt, Category 3, or Category 2 facility. The calculated impacts would result in no significant impact to offsite personnel or the environment. Hazardous material assessments indicate that a PHP facility will be a Low Hazard facility having no significant impacts either onsite or offsite to personnel and the environment

17 CFR 210.8-01 - Preliminary Notes to Article 8.

Science.gov (United States)

2010-04-01

... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Preliminary Notes to Article 8... ADVISERS ACT OF 1940, AND ENERGY POLICY AND CONSERVATION ACT OF 1975 Article 8 Financial Statements of Smaller Reporting Companies § 210.8-01 Preliminary Notes to Article 8. Sections 210.8-01 to 210.8-08 shall...

Coordinated clinical and financial analysis as a powerful tool to influence vendor pricing.

Science.gov (United States)

Logan, Catherine A; Wu, Roger Y; Mulley, Debra; Smith, Paul C; Schwaitzberg, Steven D

2010-01-01

As costs continue to outpace reimbursements, hospital administrators and clinicians face increasing pressure to justify new capital purchases. Massachusetts Health Care Reform has added further economic challenges for Disproportionate Share Hospitals (DSH), as resources formerly available to treat the uninsured have been redirected. In this challenging climate, many hospitals still lack a standardized process for technology planning and/or vendor negotiation. : The purpose of this study was to determine whether a simple, coordinated clinical and financial analysis of a technology, Endoscopic Carpal Tunnel Release (ECTR), is sufficient to impact vendor pricing at Cambridge Health Alliance (CHA), a disproportionate share hospital (DSH) in Cambridge, Massachusetts. This case study addressed the topic of technology adoption, a complex decision-making process every hospital administration faces. Taking note of other hospitals approaches to instill a strategic management culture, CHA combined a literature review on clinical outcomes and financial analysis on profitability. Clinical effectiveness was evaluated through a literature review. The financial analysis was based on a retrospective inquiry of fixed and variable costs, reimbursement rates, actual payer mix, and profitability of adopting ECTR over open carpal tunnel release at CHA. This clinical and financial analysis was then shared with the vendor. A literature review revealed that although there are short-term benefits to ECTR, there is little to no difference in long-term outcomes to justify a calculated incremental loss of $91.49 in revenue per case. Sharing this analysis with the vendor resulted in a 30% price reduction. A revised cost analysis demonstrated a $53.51 incremental gain in revenue per case. CHA has since elected to offer ECTR to its patients. Smaller hospital systems often have modest leverage in vendor negotiations. Our results suggest that the development of adoption criteria and an evidence

Summary of the Preliminary Analysis of Savannah River Depleted Uranium Trioxide

International Nuclear Information System (INIS)

2010-01-01

This report summarizes a preliminary special analysis of the Savannah River Depleted Uranium Trioxide waste stream (SVRSURANIUM03, Revision 2). The analysis is considered preliminary because a final waste profile has not been submitted for review. The special analysis is performed to determine the acceptability of the waste stream for shallow land burial at the Area 5 Radioactive Waste Management Site (RWMS) at the Nevada National Security Site (NNSS). The Savannah River Depleted Uranium Trioxide waste stream requires a special analysis because the waste stream's sum of fractions exceeds one. The 99Tc activity concentration is 98 percent of the NNSS Waste Acceptance Criteria and the largest single contributor to the sum of fractions.

THE ANALYSIS OF FINANCIAL CRISIS EFFECTS AT THE ROMANIAN BANK

Directory of Open Access Journals (Sweden)

Izabella KRÁJNIK

2010-06-01

Full Text Available The banking incomes and costs represent an important source of information regarding the profitability of a bank. The paper aims to analyse the current financial world crisis. After describing its causes and effects, the study focuses on the crisis’ impact on the global economy; Romania is the core of this analysis, as it is a country which feels very strongly the effects of the international financial turmoil. In a banking environment such as Romania's, constantly changing and subject to the pressure of a fierce competition, all the attention of the banks management teams is oriented towards the costs and their possible reduction in regard to maximizing the profit. In this context we considered as particularly important the analysis of the bank costs within the framework of the Romanian banking system, analysis which targets their structure on one side and their evolution and efficiency on the other side.

Financial Ratio Analysis of Audited Federal Financial Statements

National Research Council Canada - National Science Library

Kenney, Shane

2000-01-01

.... The purpose of these statements is to fully reveal federal entities' financial position, in the hope of enabling a better understanding of these federal entities, and to assist in resource management...

The Analysis of Liquidity and Receivables as a Component of Corporate Financial Management

Directory of Open Access Journals (Sweden)

Feshchenko Oleh Р.

2017-08-01

Full Text Available The article is aimed at the analysis of liquidity and receivables of corporations and substantiation of proposals as to its improvement as part of the management of financial status of companies. The instruments, methodical techniques, tasks, and stages of managing the accounts receivable were generalized. It has been substantiated that, at the current stage of development of Ukraine’s economy, it appears not sufficient to apply the coefficient analysis only, there is a need to supplement it by the regression analysis of the panel data, allowing for the temporal and spatial characteristics of the sample. The development of additional indicators for the monitoring of receivables can be suggested as recommendations for the studied corporations in order to reduce future risks of non-recovery and financial deterioration. Prospect for further research is an in-depth regression analysis of the panel data in terms of the measures to refinance receivables and the financial dynamics of companies.

Financial Analysis of National University Hospitals in Korea.

Science.gov (United States)

Lee, Munjae

2015-10-01

This paper provides information for decision making of the managers and the staff of national university hospitals. In order to conduct a financial analysis of national university hospitals, this study uses reports on the final accounts of 10 university hospitals from 2008 to 2011. The results of comparing 2008 and 2011 showed that there was a general decrease in total assets, an increase in liabilities, and a decrease in total medical revenues, with a continuous deficit in many hospitals. Moreover, as national university hospitals have low debt dependence, their management conditions generally seem satisfactory. However, some individual hospitals suffer severe financial difficulties and thus depend on short-term debts, which generally aggravate the profit and loss structure. Various indicators show that the financial state and business performance of national university hospitals have been deteriorating. These research findings will be used as important basic data for managers who make direct decisions in this uncertain business environment or by researchers who analyze the medical industry to enable informed decision-making and optimized execution. Furthermore, this study is expected to contribute to raising government awareness of the need to foster and support the national university hospital industry.

THE ANALYSIS OF FINANCIAL EQUILIBRIUM THROUGH THE COST OF THE INVESTED CAPITAL

Directory of Open Access Journals (Sweden)

MELANIA ELENA MICULEAC

2016-10-01

Full Text Available The financial equilibrium of a company can be analyzed through the cost of the invested capital. It is the most pragmatic approach of the financial equilibrium analysis because it takes into account the cost of invested resources, their capacity to account return. I suggest a model to approach the analysis of the balanced average cost of the invested capital using the method of chain substitutions. I reached the conclusion that the main consequence of changes in the balanced average cost of the capital is on the company’s value.

Nonlinear multi-analysis of agent-based financial market dynamics by epidemic system

Science.gov (United States)

Lu, Yunfan; Wang, Jun; Niu, Hongli

2015-10-01

Based on the epidemic dynamical system, we construct a new agent-based financial time series model. In order to check and testify its rationality, we compare the statistical properties of the time series model with the real stock market indices, Shanghai Stock Exchange Composite Index and Shenzhen Stock Exchange Component Index. For analyzing the statistical properties, we combine the multi-parameter analysis with the tail distribution analysis, the modified rescaled range analysis, and the multifractal detrended fluctuation analysis. For a better perspective, the three-dimensional diagrams are used to present the analysis results. The empirical research in this paper indicates that the long-range dependence property and the multifractal phenomenon exist in the real returns and the proposed model. Therefore, the new agent-based financial model can recurrence some important features of real stock markets.

Enhancing Financial Security in Agricultural Business: Financial and Property Aspects

OpenAIRE

Yuliya Bezdushna

2014-01-01

The article provides the analysis of information support for the developing agrarian businesses financial security activities. The impact of financial statements on financial security has been proved through generalization procedure of such calculating indicators as operating margin, return on assets, total liquidity ratio and financial autonomy ratio. A causal effect between mass underestimation of operating fixed assets in accounting and inflated profitability rates in agribusinesses operat...

Preliminary Analysis of Google+'s Privacy

OpenAIRE

Mahmood, Shah; Desmedt, Yvo

2011-01-01

In this paper we provide a preliminary analysis of Google+ privacy. We identified that Google+ shares photo metadata with users who can access the photograph and discuss its potential impact on privacy. We also identified that Google+ encourages the provision of other names including maiden name, which may help criminals performing identity theft. We show that Facebook lists are a superset of Google+ circles, both functionally and logically, even though Google+ provides a better user interfac...

KSP Polonia Warszawa’s Financial Problems – Analysis of Liquidity and Debt

Directory of Open Access Journals (Sweden)

Elżbieta Marcinkowska

2013-01-01

Full Text Available Financial liquidity is one of the most important areas of running business operations. Each entity must keep it at an adequate level. Lack of financial liquidity is the main factor leading to bankruptcy of companies. The analysis of liquidity and debt verifies the ability of an entity to pay current liabilities and also confirms the company’s ability to survive on the market. Based on the results of the analysis of liquidity and debt the management should therefore prepare liquidity management strategy. The article is based on the available financial statements of KSP Polonia Warszawa Sportowa Spółka Akcyjna and presents an analysis of its liquidity and debt. The results of this analysis for years 2008-2010were very alarming and indicative of the upcoming bankruptcy of the club. In July this year, an application was filed with the court confirming insolvency of the club and, by virtue of a decision issued by PZPN (Polish Football Association, Polonia Warszawa, so far playing in the Ekstraklasa (Polish top division, will start the next season in the 4th division. It will take the club many years to regain its position.

Misselling as a New Topic of Financial Education? A Didactic Analysis of Investment Advise after the Financial Crisis

Directory of Open Access Journals (Sweden)

Dirk Loerwald

2010-07-01

Full Text Available Personal financial investments are, as a matter of course, a topic of economic education because they are a life situation which is inherently economical. In contrast, faulty advising in banks which has become focussed upon due to the extent it has played a part in the recent financial crisis is mentioned neither in curricula nor in educational text books. Numerous private funds have been exposed as unprofitable investments. One reason for this problem is to be found in the marketing staff of the banks who did not invest their customer’s funds securely enough – and the customers did not notice it. What conclusions can be drawn from this for general financial education after the financial crisis? The economic education has failed to address the topic of “faulty advising in banks” as well. On the basis of categorical economic didactics the following contribution will analyse whether one has an exemplary case here upon which students can win generalized, transferable insights. In this context, the topic of personal financial investments will be classified in an efficient manner and the risk of opportunism in advising situations will be analysed with the help of the positive principal-agent theory. The results of this analysis of informational asymmetries within financial markets give direction to the development and revision of curricula in the didactics of economic education. With the following article a sustainable theoretical fundament will be created to underscore the obligatory inclusion of this topic in curricula as well as its realisation for target groups in school text books.

Integrated Economic and Financial Analysis of China’s Sponge City Program for Water-resilient Urban Development

Directory of Open Access Journals (Sweden)

Xiao Liang

2018-03-01

Full Text Available To improve Chinese cities’ resilience to climate change, the Sponge City Program, which was designed to tackle water pollution, storm water management, and flooding, was initiated in 2014. Being a major policy initiative, the Sponge City Program raises heated discussions among Chinese academics; however, no relevant extensive economic or financial analysis has been conducted. The research carries out an integrated economic and financial analysis on the Sponge City Program from the perspectives of two stakeholders: the government and the project manager. Different stakeholders have unique perspectives on the management of water projects. This study has two parts: economic analysis and financial analysis. The economic analysis is from the government perspective, and considers all the economic, environmental, and social effects. The financial analysis is from the project manager’s perspective, and judges the financial feasibility of projects. Changde city, one of the demo cities of Sponge City Program, is chosen for the research. The results show that from the perspective of the government, the Sponge City Program should be promoted, because most water projects are economically feasible. From the perspective of the project manager, the program should not be invested in, because the water projects are financially infeasible. A more comprehensive and integrated plan for developing and managing the water projects of the Sponge City Program is required. Otherwise, the private sector may not be interested in investing in the water projects, and the water projects may not be operational in the long term.

Assessment of financial expenditure for Rivne NPP power units decommissioning

International Nuclear Information System (INIS)

Nosovskij, A.V.; Salij, L.M.

2007-01-01

The article covers some financial aspects of developing a decommissioning concept for Rivne NPP power units with reactor VVER-440 and VVER-1000. Possible methodological approaches to costs estimate have been analyzed. Preliminary results of cost estimation are presented for two decommissioning options: deferred and immediate dismantling. Principally possible options for accumulating assets have been analyzed to finance measures related to Rivne NPP decommissioning. A mathematical model has been proposed for creating decommissioning financial reserve

Contribution of Fundamentalist Financial Analysis to Credit Concession: A Case Study in a Financial Institution in Brazil

Directory of Open Access Journals (Sweden)

Lucíola Aor Vasconcelos

2014-04-01

Full Text Available This paper has the purpose examine the ability to predict when the application of fundamental financial analysis for the granting of personal loans in relation to the default prediction of Brazilian companies listed on the BM&FBovespa through a case study of a financial institution. Our sample consists of firms listed on the Brazilian stock exchange that were included in the credit portfolio of a financial institution in the period 2008-2012. Based on a discriminant analysis, five accounting indicators were selected for having the highest predictive capacity concerning default events: Net Working Capital, Asset Turnover, Debt Ratio, Bovespa’s index participation and the Retained Earnings’ Index. Afterwards, macroeconomic variables GDP and Base Interest Rate, as well as accounting indicators weighted by industry sector and estimated by means of vector autoregressive models were included to a logit model. Statistical tests have shown that the estimation by means of autoregressive models is relevant only when accounting variables are used but not when the macroeconomic variables are included. The results indicate that although the macroeconomic variables have not shown to be individually relevant in the estimation of default events in the proposed model, the model with both accounting variables and macroeconomic variables has proved to be more robust, with a success rate of 97.3% for the latter against 95.3% for the former.

A Self-Instructional Course in Student Financial Aid Administration. Module 8: Need Analysis. Second Edition.

Science.gov (United States)

Washington Consulting Group, Inc., Washington, DC.

The eighth module in a 17-module self-instructional program on student financial aid administration (designed for novice student financial aid administrators and other personnel) focuses on need analysis. It provides an introduction to the management of federal financial aid programs authorized by the Higher Education Act Title IV. After…

The Scrap Tire Problem: A Preliminary Economic Analysis (1985)

Science.gov (United States)

The purpose of the study was to conduct a preliminary economic analysis of the social benefits of EPA action to require more appropriate disposal of scrap tires versus the social costs of such an action.

Impact Of Monetary Policy On Financial Asset Returns: An Analysis ...

African Journals Online (AJOL)

Impact Of Monetary Policy On Financial Asset Returns: An Analysis Of Selected Stocks From The Nigerian Capital Market. ... Journal of Research in National Development. Journal Home · ABOUT THIS JOURNAL · Advanced Search · Current ...

Financial Statement Analysis in Municipalities and an Application

Directory of Open Access Journals (Sweden)

Ali Kablan

2013-07-01

Full Text Available Municipalities are compelled to use their resources in a mostefficient manner in order to meet increased demand for services. The regular collection of revenues in municipalities, whilemaking expenditures in  most efficientways depend on the healthy functioning of the budget and accounting and thefinancial control system correspondingly. In is necessary for municipalities tocontinuously control the balance of incomes and expenses, determining andeliminating the negativities in this balance. For this purpose, financialanalyses and management ratios are needed. With the financial analyses made, afinancial control system may be established in a municipality and used formanagement purposes. The importance of this study is that if the organizationsand enterprises belonging to the public can apply the analysis techniques asprofoundly as the private sector organizations and enterprises, thosemunicipalities which continuously produce information through financial controlcan take corrective actions in line with such information, and by determiningout of which items the increases and decreases in revenues and expenses arisethey will take actions in order to decrease expenses and to increase revenues.In addition, it will be possible to apply financial carnets (ration cards topublic organizations and enterprises. For this purpose, sorts of financialanalyses are mentioned in the study, and an application is included in themunicipality of Beylikdüzü for analyzing financial tables in publicorganizations and enterprises which are obtained as a result of accrualsaccounting. In the application, the Balance Sheet and Table of the OperatingResults for the year 2012 are subjected to comparative statements, and topercentage and ratio analyses; and then the results are interpreted

The Organic Food Market and Marketing Initiatives in Europe: a Preliminary Analysis

DEFF Research Database (Denmark)

Kristensen, Niels Heine; Nielsen, Thorkild; Bruselius-Jensen, Maria Louisa

2003-01-01

Kristensen NH, Nielsen T, Bruselius-Jensen M, Scheperlen-Bøgh P, Beckie M, Foster C, Midmore P, Padel S (2002): The Organic Food Market and Marketing Initiatives in Europe: a Preliminary Analysis. Final Report to the EU Commission......Kristensen NH, Nielsen T, Bruselius-Jensen M, Scheperlen-Bøgh P, Beckie M, Foster C, Midmore P, Padel S (2002): The Organic Food Market and Marketing Initiatives in Europe: a Preliminary Analysis. Final Report to the EU Commission...

Comparative study on DuPont analysis and DEA models for measuring stock performance using financial ratio

Science.gov (United States)

Arsad, Roslah; Shaari, Siti Nabilah Mohd; Isa, Zaidi

2017-11-01

Determining stock performance using financial ratio is challenging for many investors and researchers. Financial ratio can indicate the strengths and weaknesses of a company's stock performance. There are five categories of financial ratios namely liquidity, efficiency, leverage, profitability and market ratios. It is important to interpret the ratio correctly for proper financial decision making. The purpose of this study is to compare the performance of listed companies in Bursa Malaysia using Data Envelopment Analysis (DEA) and DuPont analysis Models. The study is conducted in 2015 involving 116 consumer products companies listed in Bursa Malaysia. The estimation method of Data Envelopment Analysis computes the efficiency scores and ranks the companies accordingly. The Alirezaee and Afsharian's method of analysis based Charnes, Cooper and Rhodes (CCR) where Constant Return to Scale (CRS) is employed. The DuPont analysis is a traditional tool for measuring the operating performance of companies. In this study, DuPont analysis is used to evaluate three different aspects such as profitability, efficiency of assets utilization and financial leverage. Return on Equity (ROE) is also calculated in DuPont analysis. This study finds that both analysis models provide different rankings of the selected samples. Hypothesis testing based on Pearson's correlation, indicates that there is no correlation between rankings produced by DEA and DuPont analysis. The DEA ranking model proposed by Alirezaee and Asharian is unstable. The method cannot provide complete ranking because the values of Balance Index is equal and zero.

Application of 'C.A.R.B. financial methodology' analysis for alternative energy technologies into UK housing

International Nuclear Information System (INIS)

Spanos, Ioannis; Duckers, Les; Holmes, Kenneth L.

2007-01-01

Current energy trends in UK housing are reviewed and then assessed by introducing the 'CARB financial analysis' methodology. CARB is an acronym for 'Carbon Abatement', as it evaluates the potential carbon-dioxide reduction from different technologies; 'Relative', as all the technologies examined are dependant on various primary sources; and 'Balance', as the cost of surplus CO 2 is quantified. According to conventional financial analysis, most of the technologies examined have the potential to provide positive returns on the investments especially for those with an environmentally conscious agenda. Further reduction of up to 30% of most installed alternative energy systems cost is required to compete with an investment in, e.g., a UK pension scheme. Using the 'CARB financial analysis' the cost of reducing CO 2 has been quantified, and compared with the potential cost of climate change impact. Conventional installed solar technologies are not financially attractive both with a pay back period calculations and 'CARB financial analysis' under current market costs and governmental subsidy regimes. Heat recovery technologies could be sensible investments, both in financial and environmental terms under particular assumptions; especially if the investment budget is small. The use of cogeneration technologies provides a financial advantage in the attempt to minimise the cost of climate change impact, as pay back period of such investment could be less than 7 yr, and the cost of CO 2 saved could be two to seven times less than the global damage cost of carbon emissions. (author)

The model of fraud detection in financial statements by means of financial ratios

OpenAIRE

Kanapickienė, Rasa; Grundienė, Živilė

2015-01-01

Analysis of financial ratios is one of those simple methods to identify frauds. Theoretical survey revealed that, in scientific literature, financial ratios are analysed in order to designate which ratios of the financial statements are the most sensitive in relation with the motifs of executive managers and employees of companies to commit frauds. Empirical study included the analysis of the following: 1) 40 sets of fraudulent financial statements and 2) 125 sets of non-fraudulent financ...

Financial Risk Factor Analysis for Facility Gas Leakages of H2 and NG

Directory of Open Access Journals (Sweden)

In-Bok Lee

2016-09-01

Full Text Available Fuel cells may be the key to a more environmentally-friendly future because they emit low carbon dioxide per unit of energy supplied. However, little work has investigated the potential financial risks pertaining to fuel cell systems. Often used in the analysis of the safety of systems involving flammable or hazardous materials, risk factor analysis has recently been used to analyze the potential financial losses that may occur from industrial hazards. Therefore, this work undertakes a financial risk factor analysis to determine the costs of leakages of hydrogen and natural gas, which are used in fuel cell systems. Total leakage was calculated from an analysis of several leakage rates and modes. The impact of applying appropriate detection and prevention systems was also investigated. The findings were then used to analyze the consequences for various sections of the system and to calculate the overall cost based on facility outage or damage, and the cost of taking safety precautions. This provides a basis for comparison among proposed potential reactionary measures.

Topological data analysis of financial time series: Landscapes of crashes

Science.gov (United States)

Gidea, Marian; Katz, Yuri

2018-02-01

We explore the evolution of daily returns of four major US stock market indices during the technology crash of 2000, and the financial crisis of 2007-2009. Our methodology is based on topological data analysis (TDA). We use persistence homology to detect and quantify topological patterns that appear in multidimensional time series. Using a sliding window, we extract time-dependent point cloud data sets, to which we associate a topological space. We detect transient loops that appear in this space, and we measure their persistence. This is encoded in real-valued functions referred to as a 'persistence landscapes'. We quantify the temporal changes in persistence landscapes via their Lp-norms. We test this procedure on multidimensional time series generated by various non-linear and non-equilibrium models. We find that, in the vicinity of financial meltdowns, the Lp-norms exhibit strong growth prior to the primary peak, which ascends during a crash. Remarkably, the average spectral density at low frequencies of the time series of Lp-norms of the persistence landscapes demonstrates a strong rising trend for 250 trading days prior to either dotcom crash on 03/10/2000, or to the Lehman bankruptcy on 09/15/2008. Our study suggests that TDA provides a new type of econometric analysis, which complements the standard statistical measures. The method can be used to detect early warning signals of imminent market crashes. We believe that this approach can be used beyond the analysis of financial time series presented here.

A Person-Centered Approach to Financial Capacity Assessment: Preliminary Development of a New Rating Scale.

Science.gov (United States)

Lichtenberg, Peter A; Stoltman, Jonathan; Ficker, Lisa J; Iris, Madelyn; Mast, Benjamin

2015-01-01

Financial exploitation and financial capacity issues often overlap when a gerontologist assesses whether an older adult's financial decision is an autonomous, capable choice. Our goal is to describe a new conceptual model for assessing financial decisions using principles of person-centered approaches and to introduce a new instrument, the Lichtenberg Financial Decision Rating Scale (LFDRS). We created a conceptual model, convened meetings of experts from various disciplines to critique the model and provide input on content and structure, and select final items. We then videotaped administration of the LFDRS to five older adults and had 10 experts provide independent ratings. The LFDRS demonstrated good to excellent inter-rater agreement. The LFDRS is a new tool that allows gerontologists to systematically gather information about a specific financial decision and the decisional abilities in question.

Economic and financial evaluation of the wind power project in Northeast region, Brazil; Avaliacao economico-financeira de projeto de central eolica na regiao nordeste

Energy Technology Data Exchange (ETDEWEB)

Rocha, Paulo Glicio da; Lima, Maria Angela de Queiroz; Melo Junior, Adalberto de Bastos [Companhia Hidro Eletrica do Sao Francisco (DFPL/CHESF), Recife, PE (Brazil). Div. de Planejamento Economico-Financeiro], Emails: paulogr@chesf.gov.br, angelq@chesf.gov.br, adalbert@chesf.gov.br; Bezerra, Pedro; Bittencourt, Rogerio [Companhia Hidro Eletrica do Sao Francisco (DEFA/CHESF), Recife, PE (Brazil). Div. de Projetos de Fontes Alternativas], E-mails: pbezerra@chesf.gov.br, rogeriob@chesf.gov.br

2000-07-01

This work deals with the analysis of economic and financial feasibility of using wind power in the Northeast region for electric power production, considering the new electricity sector model. The case study presented here refers to the design of a 50 MW Wind Farm in the region, based on preliminary data from wind collected in the period from 1993 to 1995. Some programs were used to evaluate this project: ALWIN, which estimates the potential for wind energy production; NEWAVE for determination operating marginal costs and generation plants values and ANAFIN, for economic and financial evaluation of the project, using scenarios, through the deterministic and probabilistic analysis.

FINANCIAL PERFORMANCE ANALYSIS BASED ON THE FINANCIAL STATEMENTS FOR THE COMPANIES LOCATED IN THE BIHOR - HAJDU BIHAR EUROREGION

Directory of Open Access Journals (Sweden)

Droj Laurentiu

2012-12-01

Full Text Available This paper will be later used within the Doctoral thesis: “The Mechanism of Financing Investment Projects by Usage of European Structural Funds”, which is currently under development at the University Babeș Bolyai Cluj Napoca, Faculty of Economics and Business Management, under the coordination of the prof. univ. dr. Ioan Trenca. This paper comes also as a result of the European Funded project PERINPRO “Cross-Border Research Programme - Performance Indicators of the Economic Entities from Bihor-Hajdu Bihar Euroregion”. The goal of the project was to identify of a set of common indicators that characterizes companies in the Bihor-Hajdu Bihar Euroregion and which will be used to analyze the financial health of the economic entities in the Euroregion of Hajdu-Bihar- Bihor. The first chapter of the paper will introduce the research and also will present the literature review and the methodological framework: by establishing a common set of indicators for the financial analysis of the companies located in the Bihor-Hajdu Bihar Euroregion. Seven of these indicators considered to be highly important will also briefly described and defined. Some of these indicators are used for the first time in a trans-national analysis over companies located in the Romanian-Hungarian cross border area. In the second chapter the research will be focused over establishing a common ground for usage of the financial reporting documents as basis for the analysis. Several characteristics which differentiate the financial reporting documents from Romania and Hungary will be identified and measures for correction of the values of the indicators will be proposed. This comparative study can be considered an innovation, as well, in the cross-border area since in the past no other studies of this types were performed between Romania and Hungary. The third chapter will be focused over the application of seven identified common indicators to companies based

Practical Recommendations for the Preliminary Design Analysis of ...

African Journals Online (AJOL)

Interior-to-exterior shear ratios for equal and unequal bay frames, as well as column inflection points were obtained to serve as practical aids for preliminary analysis/design of fixed-feet multistory sway frames. Equal and unequal bay five story frames were analysed to show the validity of the recommended design ...

Yucca Mountain transportation routes: Preliminary characterization and risk analysis

International Nuclear Information System (INIS)

Souleyrette, R.R. II; Sathisan, S.K.; di Bartolo, R.

1991-01-01

This report presents appendices related to the preliminary assessment and risk analysis for high-level radioactive waste transportation routes to the proposed Yucca Mountain Project repository. Information includes data on population density, traffic volume, ecologically sensitive areas, and accident history

Failure mode analysis of preliminary design of ITER divertor impurity monitor

International Nuclear Information System (INIS)

Kitazawa, Sin-iti; Ogawa, Hiroaki

2016-01-01

Highlights: • Divertor impurity influx monitor for ITER (DIM) is procured by JADA. • DIM is designed to observe light from nuclear fusion plasma directly. • DIM is under preliminary design phase. • Failure mode of DIM was prepared for RAMI analysis. • RAMI analysis on DIM was performed to reduce technical risks. - Abstract: The objective of the divertor impurity influx monitor (DIM) for ITER is to measure the parameters of impurities and hydrogen isotopes (tritium, deuterium, and hydrogen) in divertor plasma using visible and UV spectroscopic techniques in the 200–1000 nm wavelength range. In ITER, special provisions are required to ensure accuracy and full functionality of the diagnostic components under harsh conditions (high temperature, high magnetic field, high vacuum condition, and high radiation field). Japan Domestic Agency is preparing the preliminary design of the ITER DIM system, which will be installed in the upper, equatorial and lower ports. The optical and mechanical designs of the DIM are conducted to fit ITER’s requirements. The optical and mechanical designs meet the requirements of spatial resolution. Some auxiliary systems were examined via prototyping. The preliminary design of the ITER DIM system was evaluated by RAMI analysis. The availability of the designed system is adequately high to satisfy the project requirements. However, some equipment does not have certain designs, and this may cause potential technical risks. The preliminary design should be modified to reduce technical risks and to prepare the final design.

CRITICAL ANALYSIS OF THEIR RISK FINANCIAL INSTRUMENTS

Directory of Open Access Journals (Sweden)

CARUNTU GENU ALEXANDRU

2013-12-01

Full Text Available In the last decade, accounting for financial instruments has experienced a revolution, following the publication of accounting rules on recognition and measurement of these instruments saddle. Need to develop standards for financial instruments appeared on the background of explosion using derivatives and the markets in which they are traded, and as a result of numerous financial scandals that rocked developed countries in the last decade. These were based, among other causes, improper use of derivatives and hiding their disastrous effects of poor management by keeping them off balance and failure to provide related information in the notes of the financial statements.

Preliminary Hazards Analysis of K-Basin Fuel Encapsulation and Storage

International Nuclear Information System (INIS)

Strickland, G.C.

1994-01-01

This Preliminary Hazards Analysis (PHA) systematically examines the K-Basin facilities and their supporting systems for hazards created by abnormal operating conditions and external events (e.g., earthquakes) which have the potential for causing undesirable consequences to the facility worker, the onsite individual, or the public. The operational activities examined are fuel encapsulation, fuel storage and cooling. Encapsulation of sludges in the basins is not examined. A team of individuals from Westinghouse produced a set of Hazards and Operability (HAZOP) tables documenting their examination of abnormal process conditions in the systems and activities examined in K-Basins. The purpose of this report is to reevaluate and update the HAZOP in the original Preliminary Hazard Analysis of K-Basin Fuel Encapsulation and Storage originally developed in 1991

Protective Alternatives of SMR against Extreme Threat Scenario – A Preliminary Risk Analysis

International Nuclear Information System (INIS)

Shohet, I.M.; Ornai, D.; Gal, E.; Ronen, Y.; Vidra, M.

2014-01-01

The article presents a preliminary risk analysis of the main features in NPP (Nuclear Power Plant) that includes SMR - Small and Modular Reactors, given an extreme threat scenario. A review of the structure and systems of the SMR is followed by systematic definitions and analysis of the threat scenario to which a preliminary risk analysis was carried out. The article outlines the basic events caused by the referred threat scenario, which had led to possible failure mechanisms according to FTA (Fault-Tree-Analysis),critical protective circuits, and todetecting critical topics for the protection and safety of the reactor

Investigation on the Efficiency of Financial Companies in Malaysia with Data Envelopment Analysis Model

Science.gov (United States)

Weng Siew, Lam; Kah Fai, Liew; Weng Hoe, Lam

2018-04-01

Financial ratio and risk are important financial indicators to evaluate the financial performance or efficiency of the companies. Therefore, financial ratio and risk factor are needed to be taken into consideration to evaluate the efficiency of the companies with Data Envelopment Analysis (DEA) model. In DEA model, the efficiency of the company is measured as the ratio of sum-weighted outputs to sum-weighted inputs. The objective of this paper is to propose a DEA model by incorporating the financial ratio and risk factor in evaluating and comparing the efficiency of the financial companies in Malaysia. In this study, the listed financial companies in Malaysia from year 2004 until 2015 are investigated. The results of this study show that AFFIN, ALLIANZ, APEX, BURSA, HLCAP, HLFG, INSAS, LPI, MNRB, OSK, PBBANK, RCECAP and TA are ranked as efficient companies. This implies that these efficient companies have utilized their resources or inputs optimally to generate the maximum outputs. This study is significant because it helps to identify the efficient financial companies as well as determine the optimal input and output weights in maximizing the efficiency of financial companies in Malaysia.

High frequency analysis of lead-lag relationships between financial markets

NARCIS (Netherlands)

de Jong, F.C.J.M.; Nijman, T.E.

1995-01-01

High frequency data are often observed at irregular intervals, which complicates the analysis of lead-lag relationships between financial markets. Frequently, estimators have been used that are based on observations at regular intervals, which are adapted to the irregular observations case by

Financial Performance Analysis of BIST Tourism Companies with TOPSIS for 2011-2015 Period

Directory of Open Access Journals (Sweden)

Mahmut ERDOĞAN

2018-01-01

Full Text Available The main aim of this paper is to investigate of financial performance of 13 tourism firms quoted on BIST with TOPSIS method by exploitation of financial ratios for the 2011-2015 period. Basically, to determine financial power of the tourism firms financial ratios have measured and then general corporate performance scores estimated by TOPSIS method. Algorithm of the TOPSIS method is repeated and ranking orders of firms are calculated for each year. However, companies’ yearly performances are outlined and an average ranking is stated for 6 years. Lastly, tourism corporations have ranked with these scores. The result of this paper shows that financial performance of tourism companies point instability out during the all period. According to the results of analysis Net Turizm, Tekart Turizm, and Marmaris Altinyunus have the best performance in 2011 respectively, but Metemtur has the worst. On the other hand, surprisingly, Metemtur has the best financial efficiency and Martı Otel has the worst performance in 2015. However, Net Turizm and Marmaris Altinyunus have been continuing their financial stability and Metemtur is very volatile company in given term.

Grid-connected ICES: preliminary feasibility analysis and evaluation. Volume 2. Final report

Energy Technology Data Exchange (ETDEWEB)

1977-06-30

The HEAL Complex in New Orleans will serve as a Demonstration Community for which the ICES Demonstration System will be designed. The complex is a group of hospitals, clinics, research facilities, and medical educational facilities. The five tasks reported on are: preliminary energy analysis; preliminary institutional assessment; conceptual design; firming-up of commitments; and detailed work management plan.

TO THE QUESTION OF MODELS OF ANALYSIS ASSESSING FINANCIAL CONDITION OF THE EDUCATIONAL ORGANIZATION OF HIGHER EDUCATION

Directory of Open Access Journals (Sweden)

A. Galushkin

2016-01-01

Full Text Available In this article, author discusses model of analysis assessing the financial condition of the educational organization of higher education. Author analyzes the sequence (algorithm analysis of fi nancial and economic activity of the educational organization of higher education in the process of separating the analysis of questions of the analysis of the state educational institutions of higher education and non-state educational institutions of higher education. Author also deals with the determination of the average annual values of indicators of educational institution of higher education. In conclusion, the author makes a scientifi cally-based own conclusions and gives a number of suggestions.Goal / task. Aim of the article is to identify further ways of optimizing the financial condition of the educational organization of higher education.Methodology. Author started his research with the setting and the formulation of research objectives. The author defined the subject of the study, prepared by the empirical basis of the study.Results. According to the results of the study produced five research-based fi ndings presented in the article.Conclusions / signifi cance. 1. Analysis of the financial condition of the educational institutions of higher education can be defi ned as a complex and complex economic studies to identify patterns of the system factors in the financial well-being, the subject of analysis of educational, teaching, research and related activities.2. Integral assessment of the conditions of the financial analysis of the educational institution of higher education leads to the conclusion that it should include a number of stages.3. Analysis of the financial condition of the educational institution of higher education should be characterized as a specific type of analytical work. However, it is obvious that it can not be a simple kind of financial analysis of its object, and is a special form of research. The most significant

User's operating procedures. Volume 2: Scout project financial analysis program

Science.gov (United States)

Harris, C. G.; Haris, D. K.

1985-01-01

A review is presented of the user's operating procedures for the Scout Project Automatic Data system, called SPADS. SPADS is the result of the past seven years of software development on a Prime mini-computer located at the Scout Project Office, NASA Langley Research Center, Hampton, Virginia. SPADS was developed as a single entry, multiple cross-reference data management and information retrieval system for the automation of Project office tasks, including engineering, financial, managerial, and clerical support. This volume, two (2) of three (3), provides the instructions to operate the Scout Project Financial Analysis program in data retrieval and file maintenance via the user friendly menu drivers.

Financial Performance Analysis to Reformulate Business Strategy (Case Study: Bank Syariah Mandiri KCP XYZ)

OpenAIRE

Rachmadiah, Euis; Aliludin, Arson

2013-01-01

The purpose of this research is to analyzing Financial Performance of KCP XYZ of PT Bank Syariah Mandiri in order to reformulate business strategy and its implementation plan. The strategy formulation is conducted with evaluating its current performance as a first stage element. Financial Performance analysis by 4 financial ratios; ROA, BOPO, NCOM, FDR and 4 growth ratios; Growth of Assets, Growth of Depositor Funds, Growth of Financing and Growth of Net Earnings, is chosen to evaluate the po...

From Principle to Action. An Analysis of the Financial Sector's Approach to Addressing Climate Change

International Nuclear Information System (INIS)

Mudde, P.; Abadie, A.

2008-05-01

The Ministry of the Housing, Spatial Planning and the Environment of the Netherlands (VROM), has taken the initiative to commission a study to determine best practice approaches within the financial sector regarding climate change. This study focuses on the indirect climate change footprint of the financial sector, i.e. the impact of the financial sector's clients on climate change. The study sets out to further the body of knowledge relating to the financial sector's approach to understanding and managing the effects of climate change on their clients' business. Specifically, it offers recommendations and potential next steps for both the financial sector and the Dutch government to enable a more focused and definitive approach to understanding, addressing and incorporating climate change considerations into decision-making procedures and policy development. The paper comprises the following analysis: Chapter 1 is an introduction describing why climate change is relevant to the financial sector, and introduces 18 financial institutions which were selected as the basis for the study. Chapter 2 elaborates on challenges for the financial sector regarding the incorporation of climate change considerations into enhanced risk analysis and decision making. Chapter 3 provides a comprehensive overview of the main international business initiatives regarding climate change and sustainability. It can be seen as a summary of Annex I to this report, which identifies which initiatives the 18 financial institutions are involved in. Chapter 4 highlights selected best practices amongst the 18 financial institutions assessed. Chapter 5 provides the main conclusions of the study and puts forward general and specific recommendations and potential next steps for the Dutch government and the financial sector. The Annexes contain fact sheets containing information about the climate change strategy and main activities of these organisations

Analysis of Financial Ratio to Distinguish Indonesia Joint Venture General Insurance Company Performance using Discriminant Analysis

Directory of Open Access Journals (Sweden)

Subiakto Soekarno

2012-01-01

Full Text Available Insurance industry stands as a service business that plays a significant role in Indonesiaeconomical condition. The development of insurance industry in Indonesia, both of generalinsurance and life insurance, has increased very fast. The general insurance industry itselfdivided into two major players which are local private company and Joint Venture Company.Lately, the use of statistical techniques and financial ratios models to asses financial institutionsuch as insurance company have been used as one of the appropriate combination inpredicting the performance of an industry. This research aims to distinguish between JointVenture General Insurance Companies that have a good performance and those who are lessperforming well using Discriminant Analysis. Further, the findings led that DiscriminantAnalysis is able to distinguish Joint Venture General Insurance Companies that have a goodperformance and those who are not performing well. There are also six ratios which are RBC,Technical Reserve to Investment Ratio, Debt Ratio, Return on Equity, Loss Ratio, and ExpenseRatio that stand as the most influential ratios to distinguish the performance of joint venturegeneral insurance companies. In addition, the result suggest business people to be concernedtoward those six ratios, to increase their companies’ performance.Key words: general insurance, financial ratio, discriminant analysis

Repository Subsurface Preliminary Fire Hazard Analysis

International Nuclear Information System (INIS)

Logan, Richard C.

2001-01-01

This fire hazard analysis identifies preliminary design and operations features, fire, and explosion hazards, and provides a reasonable basis to establish the design requirements of fire protection systems during development and emplacement phases of the subsurface repository. This document follows the Technical Work Plan (TWP) (CRWMS M and O 2001c) which was prepared in accordance with AP-2.21Q, ''Quality Determinations and Planning for Scientific, Engineering, and Regulatory Compliance Activities''; Attachment 4 of AP-ESH-008, ''Hazards Analysis System''; and AP-3.11Q, ''Technical Reports''. The objective of this report is to establish the requirements that provide for facility nuclear safety and a proper level of personnel safety and property protection from the effects of fire and the adverse effects of fire-extinguishing agents

Preliminary analysis of alternative fuel cycles for proliferation evaluation

Energy Technology Data Exchange (ETDEWEB)

Steindler, M. J.; Ripfel, H. C.F.; Rainey, R. H.

1977-01-01

The ERDA Division of Nuclear Research and Applications proposed 67 nuclear fuel cycles for assessment as to their nonproliferation potential. The object of the assessment was to determine which fuel cycles pose inherently low risk for nuclear weapon proliferation while retaining the major benefits of nuclear energy. This report is a preliminary analysis of these fuel cycles to develop the fuel-recycle data that will complement reactor data, environmental data, and political considerations, which must be included in the overall evaluation. This report presents the preliminary evaluations from ANL, HEDL, ORNL, and SRL and is the basis for a continuing in-depth study. (DLC)

A preliminary analysis of the reactor-based plutonium disposition alternative deployment schedules

International Nuclear Information System (INIS)

Zurn, R.M.

1997-09-01

This paper discusses the preliminary analysis of the implementation schedules of the reactor-based plutonium disposition alternatives. These schedule analyses are a part of a larger process to examine the nine decision criteria used to determine the most appropriate method of disposing of U.S. surplus weapons plutonium. The preliminary analysis indicates that the mission durations for the reactor-based alternatives range from eleven years to eighteen years and the initial mission fuel assemblies containing surplus weapons-usable plutonium could be loaded into the reactors between nine and fourteen years after the Record of Decision

A new perspective on hospital financial ratio analysis.

Science.gov (United States)

Zeller, T L; Stanko, B B; Cleverley, W O

1997-11-01

Using audit financial data in a study of 2,189 not-for-profit hospitals for the period 1989-1992, six financial characteristics of performance were defined. These characteristics are profitability factor, fixed-asset efficiency, capital structure, fixed-asset age, working capital efficiency, and liquidity. The statistical output also shows the specific sets of financial ratios that can be used to measure the six characteristics of hospital performance. The results of this study can be beneficial to healthcare financial managers, hospital boards, policy groups, and other relevant entities because it affords them a clear understanding of an institution's financial performance.

Preliminary analysis of the transient overpower accident for CRBRP. Final report

International Nuclear Information System (INIS)

Kastenberg, W.E.; Frank, M.V.

1975-07-01

A preliminary analysis of the transient overpower accident for the Clinch River Breeder Reactor Plant (CRBRP) is presented. Several uncertainties in the analysis and the estimation of ramp rates during the transition to disassembly are discussed. The major conclusions are summarized

Methodological Analysis of Gregarious Behaviour of Agents in the Financial Markets

OpenAIRE

Solodukhin Stanislav V.

2013-01-01

The article considers methodological approaches to analysis of gregarious behaviour of agents in the financial markets and also studies foundations of the agent modelling of decision making processes with consideration of the gregarious instinct.

Waste Feed Delivery System Phase 1 Preliminary RAM Analysis

International Nuclear Information System (INIS)

DYKES, A.A.

2000-01-01

This report presents the updated results of the preliminary reliability, availability, and maintainability (RAM) analysis of selected waste feed delivery (WFD) operations to be performed by the Tank Farm Contractor (TFC) during Phase I activities in support of the Waste Treatment and Immobilization Plant (WTP). For planning purposes, waste feed tanks are being divided into five classes in accordance with the type of waste in each tank and the activities required to retrieve, qualify, and transfer waste feed. This report reflects the baseline design and operating concept, as of the beginning of Fiscal Year 2000, for the delivery of feed from three of these classes, represented by source tanks 241-AN-102, 241-AZ-101 and 241-AN-105. The preliminary RAM analysis quantifies the potential schedule delay associated with operations and maintenance (OBM) field activities needed to accomplish these operations. The RAM analysis is preliminary because the system design, process definition, and activity planning are in a state of evolution. The results are being used to support the continuing development of an O and M Concept tailored to the unique requirements of the WFD Program, which is being documented in various volumes of the Waste Feed Delivery Technical Basis (Carlson. 1999, Rasmussen 1999, and Orme 2000). The waste feed provided to the WTP must: (1) meet limits for chemical and radioactive constituents based on pre-established compositional envelopes (i.e., feed quality); (2) be in acceptable quantities within a prescribed sequence to meet feed quantities; and (3) meet schedule requirements (i.e., feed timing). In the absence of new criteria related to acceptable schedule performance due to the termination of the TWRS Privatization Contract, the original criteria from the Tank Waste Remediation System (77443s) Privatization Contract (DOE 1998) will continue to be used for this analysis

Integration of Financial Markets in Post Global Financial Crises and Implications for British Financial Sector: Analysis Based on A Panel VAR Model

OpenAIRE

Nasir, M; Du, M

2017-01-01

This study analyses the dynamics of integration among global financial markets in the context of Global Financial Crisis (2008) by employing a Panel Vector Autoregressive (VAR) model on the monthly data of nine countries and three markets from Jan 2003 to Oct 2015. It was found that there has been a shift in the association among the global financial markets since Global Financial Crisis (GFC).Moreover, the British financial sectors in Post-GFC world clearly showed a change in the association...

Preliminary CFD Analysis for HVAC System Design of a Containment Building

Energy Technology Data Exchange (ETDEWEB)

Son, Sung Man; Choi, Choengryul [ELSOLTEC, Yongin (Korea, Republic of); Choo, Jae Ho; Hong, Moonpyo; Kim, Hyungseok [KEPCO Engineering and Construction, Gimcheon (Korea, Republic of)

2016-10-15

HVAC (Heating, Ventilation, Air Conditioning) system has been mainly designed based on overall heat balance and averaging concepts, which is simple and useful for designing overall system. However, such a method has the disadvantage that cannot predict the local flow and temperature distributions in a containment building. In this study, a CFD (Computational Fluid Dynamics) preliminary analysis is carried out to obtain detailed flow and temperature distributions in a containment building and to ensure that such information can be obtained via CFD analysis. This approach can be useful for hydrogen analysis in an accident related to hydrogen released into a containment building. In this study, CFD preliminary analysis has been performed to obtain the detailed information of the reactor containment building by using the CFD analysis techniques and to ensure that such information can be obtained via CFD analysis. We confirmed that CFD analysis can offer enough detailed information about flow patterns and temperature field and that CFD technique is a useful tool for HVAC design of nuclear power plants.

Crystallization and preliminary X-ray diffraction analysis of rat autotaxin

International Nuclear Information System (INIS)

Day, Jacqueline E.; Hall, Troii; Pegg, Lyle E.; Benson, Timothy E.; Hausmann, Jens; Kamtekar, Satwik

2010-01-01

Autotaxin (ATX), a pyrophosphatase/phosphodiesterase enzyme, is a promising drug target for many indications and is only distantly related to enzymes of previously determined structure. Here, the cloning, expression, purification, crystallization and preliminary diffraction analysis of ATX are reported. Rat autotaxin has been cloned, expressed, purified to homogeneity and crystallized via hanging-drop vapour diffusion using PEG 3350 as precipitant and ammonium iodide and sodium thiocyanate as salts. The crystals diffracted to a maximum resolution of 2.05 Å and belonged to space group P1, with unit-cell parameters a = 53.8, b = 63.3, c = 70.5 Å, α = 98.8, β = 106.2, γ = 99.8°. Preliminary X-ray diffraction analysis indicated the presence of one molecule per asymmetric unit, with a solvent content of 47%

APPLICATION OF FINANCIAL ETHICS IN ANNUAL FINANCIAL REPORTING OF BANKS

Directory of Open Access Journals (Sweden)

Ayuba A. Aminu

2016-03-01

Full Text Available The importance of financial ethics and its application in financial reporting of banks cannot be ignored as it assists in building public confidence and fostering professionalism. However, the non-compliance and conformity with Nigerian Financial Regulatory Authorities prudential guidelines in the preparation of financial statements lead to incomplete or false information. The objective of the study is to examine the application of financial ethics in annual financial reporting of banks. The study employed primary and secondary data and stratified and purposive sampling techniques were used in which 20 questionnaires were administered to respondents. ANOVA and chi-square were in analysis and the findings revealed that there are significant unethical practices in the preparation of financial reports of banks in Nigeria. The study recommends that more emphasis and attention should be given to ethical standards in all banks and banks should give out clear reports of their financial activities to the regulatory authorities.

Preliminary analysis of a 1:4 scale prestressed concrete containment vessel model

International Nuclear Information System (INIS)

Dameron, R.A.; Rashid, Y.R.; Luk, V.K.; Hessheimer, M.F.

1997-01-01

Sandia National Laboratories is conducting a research program to investigate the integrity of nuclear containment structures. As part of the program Sandia will construct an instrumented 1:4 scale model of a prestressed concrete containment vessel (PCCV) for pressurized water reactors (PWR), which will be pressure tested up to its ultimate capacity. One of the key program objectives is to develop validated methods to predict the structural performance of containment vessels when subjected to beyond design basis loadings. Analytical prediction of structural performance requires a stepwise, systematic approach that addresses all potential failure modes. The analysis effort includes two and three-dimensional nonlinear finite element analyses of the PCCV test model to evaluate its structural performance under very high internal pressurization. Such analyses have been performed using the nonlinear concrete constitutive model, ANACAP-U, in conjunction with the ABAQUS general purpose finite element code. The analysis effort is carried out in three phases: preliminary analysis; pretest prediction; and post-test data interpretation and analysis evaluation. The preliminary analysis phase serves to provide instrumentation support and identify candidate failure modes. The associated tasks include the preliminary prediction of failure pressure and probable failure locations and the development of models to be used in the detailed failure analyses. This paper describes the modeling approaches and some of the results obtained in the first phase of the analysis effort

Comparative life cycle assessment and financial analysis of mixed culture polyhydroxyalkanoate production.

Science.gov (United States)

Gurieff, Nicholas; Lant, Paul

2007-12-01

A life cycle assessment and financial analysis of mixed culture PHA (PHA(MC)) and biogas production was undertaken based on treating an industrial wastewater. Internal rate of return (IRR) and non-renewable CO(2)eq emissions were used to quantify financial viability and environmental impact. PHA(MC) was preferable to biogas production for treating the specified industrial effluent. PHA(MC) was also financially attractive in comparison to pure culture PHA production. Both PHA production processes had similar environmental impacts that were significantly lower than HDPE production. A large potential for optimisation exists for the PHA(MC) process as financial and environmental costs were primarily due to energy use for downstream processing. Under the conditions used in this work PHA(MC) was shown to be a viable biopolymer production process and an effective industrial wastewater treatment technology. This is the first study of its kind and provides valuable insight into the PHA(MC) process.

Financial and Non Financial Factors on Going-Concern Opinion

Directory of Open Access Journals (Sweden)

Junaidi Junaidi

2012-09-01

Full Text Available Company's ability to survive is a fundamental uncertainty faced in the preparation and auditing financial statements. Provision of going-concern opinion on these financial statements the company is still being debated. Public Accountant Professional Standards in section 341 states that the auditor is responsible for evaluating whether there is a major doubt on the ability of entities in the continued survival of the appropriate period of time, not more than one year from the date of the financial statements being audited. This research analyzed the financial and non financial factors that affected the provision of going-concern opinion. This research used samples of 63 companies with 315 observations, taken from years 2005-2009. The logistic regression analysis showed that the company's financial condition variables, mitigating evidence, and disclosure significantly influence the acceptance of going-concern opinion. Enterprise risk was not significant at propensity of going-concern opinion.

ANALYSIS OF COMPANY SIZE, FINANCIAL LEVERAGE, AND PROFITABILITY AND ITS EFFECT TO CSR DISCLOSURE

Directory of Open Access Journals (Sweden)

Suskim Riantani

2015-09-01

Full Text Available This study aims to analyze and recognize the effect of financial performance measured through company size, financial leverage and profitability to Corporate Social Responsibility Disclosure (CSRD. The research was done in Tobacco Company listed in Indonesia Stock Exchange during period of 2007-2011. Descriptive analysis and verification method was used as the research method. The purposive sampling method was used to obtain the sample and there are three cigarette companies as the sample. Multiple linear regression and correlation analysis using t test and F test were applied as a technique of analysis. The test of the classical assumption such as the normality, multicollinearity, heteroscedasticity, and autocorrelation applied before the multiple linear regression. The result shows that the company size had positive and significant effect to the CSR disclosure, financial leverage does not show significant effect to the CSR disclosure, profitability does not have significant effect to the CSR disclosure during the investigation.

The Effect Of Intangible Asset Financial Performance And Financial Policies On The Firm Value

OpenAIRE

Rindu Rika Gamayuni

2015-01-01

Abstract The purpose of this study is to test empirically the relationship between intangible assets financial policies and financial performance to the firm value at going-public company in Indonesia. Path analysis was used to ascertain the relationship between intangible assets financial policies financial performance and firm value at going-public company in Indonesia in the year 2007 to 2009. This study also provides empirical evidence that Intangible assets financial policies financial p...

A financial network perspective of financial institutions' systemic risk contributions

Science.gov (United States)

Huang, Wei-Qiang; Zhuang, Xin-Tian; Yao, Shuang; Uryasev, Stan

2016-08-01

This study considers the effects of the financial institutions' local topology structure in the financial network on their systemic risk contribution using data from the Chinese stock market. We first measure the systemic risk contribution with the Conditional Value-at-Risk (CoVaR) which is estimated by applying dynamic conditional correlation multivariate GARCH model (DCC-MVGARCH). Financial networks are constructed from dynamic conditional correlations (DCC) with graph filtering method of minimum spanning trees (MSTs). Then we investigate dynamics of systemic risk contributions of financial institution. Also we study dynamics of financial institution's local topology structure in the financial network. Finally, we analyze the quantitative relationships between the local topology structure and systemic risk contribution with panel data regression analysis. We find that financial institutions with greater node strength, larger node betweenness centrality, larger node closeness centrality and larger node clustering coefficient tend to be associated with larger systemic risk contributions.

Econometric Analysis of Bulk Shipping: implications for investment strategies and financial decision-making

NARCIS (Netherlands)

S. Tsolakis

2005-01-01

textabstractThis thesis provides an econometric analysis of the bulk shipping markets and the implications for shipping investment and financial decision making. Chapter 1 sets the scene by providing a historic analysis of bulk shipping markets over the last 55 years. From this analysis, four

KBS4FIA: Leveraging advanced knowledge-based systems for financial information analysis

OpenAIRE

García-Sánchez, Francisco; Paredes-Valverde, Mario Andrés; Valencia García, Rafael; Alcaraz Mármol, Gema; Almela Sánchez-Lafuente, Ángela

2017-01-01

Decision making takes place in an environment of uncertainty. Therefore, it is necessary to have information which is as accurate and complete as possible in order to minimize the risk that is inherent to the decision-making process. In the financial domain, the situation becomes even more critical due to the intrinsic complexity of the analytical tasks within this field. The main aim of the KBS4FIA project is to automate the processes associated with financial analysis by leveraging the tech...

Essays on financial liberalization

NARCIS (Netherlands)

Bumann, Silke

2015-01-01

This thesis investigates the effect of financial liberalization on economic growth, income inequality and financial instability. Chapter 1 describes aim and scope of the thesis. Chapter 2 provides a meta-analysis of the literature on financial liberalization and economic growth. It is found that

Uluslararası Finansal Raporlama Standartlarının Finansal Analize Etkisi: İMKB’ye Yönelik Bir Araştırma = The Impact of International Financial Reporting Standards on Financial Analysis: A Study on IMKB (Istanbul Stock Exhange

Directory of Open Access Journals (Sweden)

Ali İhsan AKGÜN

2013-01-01

Full Text Available The information in financial statements should be correct, comprehensible and comparable enough, in terms of financial analysis, to fulfill the needs of financial information users. When different purposes of financial statement users are taken into consideration, Turkish Accounting Standards (TAS and Turkish Financial Reporting Standards (TFRS applications have important impacts on financial statements of enterprises and the analysis of these statements. In the actual study, the impact of International Financial Reporting Standards (IFRS on the financial statement analysis of enterprises registered in Istanbul Stock Exchange (IMKB was examined. The study, the effect of IFRS on the enterprises registered in IMKB was examined thorough a questionnaire. Factor analysis was made on the SPSS 19 statistics program.

The Impact of Financial Development on Economic Growth in Nigeria: An ARDL Analysis

Directory of Open Access Journals (Sweden)

Eugene Iheanacho

2016-11-01

Full Text Available This study empirically examines the relationship between financial intermediary development and economic growth in Nigeria over the period 1981–2011 using the auto-regressive distributed lag (ARDL approach to co-integration analysis. The results show that the relationship between financial development and economic growth in Nigeria is not significantly different from what has been observed generally in oil-dependent economies. The relationship between financial intermediary development and economic growth in Nigeria is found to be insignificantly negative in the long-run and significantly negative in the short-run. The results highlight the dominant role of the oil sector in economic activities in Nigeria.

17 CFR 229.303 - (Item 303) Management's discussion and analysis of financial condition and results of operations.

Science.gov (United States)

2010-04-01

... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false (Item 303) Management's discussion and analysis of financial condition and results of operations. 229.303 Section 229.303 Commodity... 1975-REGULATION S-K Financial Information § 229.303 (Item 303) Management's discussion and analysis of...

Childhood roots of financial literacy

OpenAIRE

Grohmann, Antonia; Kouwenberg, Roy; Menkhoff, Lukas

2015-01-01

Financial literacy predicts informed financial decisions, but what explains financial literacy? We use the concept of financial socialization and aim to represent three major agents of financial socialization: family, school and work. Thus we compile twelve relevant childhood characteristics in a new survey study and examine their relation to financial literacy, while controlling for established socio-demographic characteristics. We find in a mediation analysis that both family and school pos...

Blockchain based financial case analysis and its implications

Directory of Open Access Journals (Sweden)

Soonduck Yoo

2017-12-01

Full Text Available Purpose - In Korea and abroad, this paper investigates the use of blockchains in the financial sector. This study aims to examine how blockchains are applied to the financial sector and how to respond to the Korean conditions. Design/methodology/approach - This paper investigates the movements of the financial sector and related services using the blockchain in the current market. Findings - First, as a result of examining domestic and foreign cases, it can be seen that the areas where blockchains are most actively applied in the financial sector are expanding into settlement, remittance, securities and smart contracts. Also, in Korea, many of the authentication procedures based on the equipment possessed by the consumers are used so that introduction of the blockchain in the authentication part is prominent. Second, the move to introduce a closed (private distributed ledger that does not go through the central bank is accelerating in payments between banks. Third, domestic financial institutions also need joint action by financial institutions through a blockchain consortium to apply blockchain technology to the financial sector. Fourth, consumer needs and technological developments are changing. At the same time, as the opportunity to infringe on the information held by individuals has expanded, the need for blockchain technology is strongly emerging because of the efforts of the organizations to defend it. Originality/value - This paper contributes to understanding the changes in the financial sector using the blockchain.

HEAL G-C ICES, Phase II: detailed feasibility analysis and preliminary design. Final report, Stage 1

Energy Technology Data Exchange (ETDEWEB)

1978-03-22

In this preliminary report for Phase II of Health Education Authority of Louisiana's (HEAL) ICES program, specific elements of the basic intitutional issues were readdressed, as requested by the U.S. Department of Energy. The draft environmental assessment was reassessed and updated. Thermal energy demand profiles for the major community sectors, i.e., the five institutions comprising the HEAL Complex, were refined on a month-by-month basis and resulted in establishing ICES plant systems design capacities of 121,500 pounds per hour demand and 418,175,000 pounds per year for steam; 10,000 tons demand and 38,885,000 ton-hours per year for cooling. From these values the concept of the plant was developed. The Phase I capital cost estimate was updated. Total capital cost is now indicated as $29,960,500. The Phase I operating cost estimate was updated, with that figure now $8,468,479. The Phase I financial analysis was updated, producing an estimated annual revenue level of $9,907,062.

Framework for Financial Ratio Analysis of Audited Federal Financial Reports

National Research Council Canada - National Science Library

Brady, Richard

1999-01-01

.... The disclosure of this type of information, it was believed, would enable decision-makers to understand the financial implications of budgetary, policy and program issues and provide an analytical...

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

Science.gov (United States)

Das, Dhiman

2009-01-01

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

FINANCIAL CRISES AND TURKEY

Directory of Open Access Journals (Sweden)

MERT URAL

2013-06-01

Full Text Available Since the last three decades, in developed and developing counties the liberalization and openness efforts have been witnessed. However, financial liberalization attempts (both internal and external without having macroeconomic stability lead to financial crises in many developing countries. Macroeconomic instabilities create fragile financial markets paving the way for future economic crises. The Turkish Economy, completed the liberalization process with foreign trade liberalization in 1980 and by removing controls on capital accounts in 1989. However, since 1990’s economy got into ‘growth-instability-crisis’ vicious circle, because of the fluctuations in the financial structure. By employing a factor analysis (principal components analysis, this work, aims to obtain the factors that effect crises in Turkey.

European Union Financial Crisis: A Marxist Analysis

NARCIS (Netherlands)

Petrus Kanisius Farneubun, P.

European financial crisis poses a serious challenge to the fundamental structure of the European Union, political and financial institutions, as well as the values that bind European together. Different factors have been suggested as the causes of the crisis notably the failure of national

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

Science.gov (United States)

Stephens, Keith

1989-01-01

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

EVALUATION OF FINANCIAL PERFORMANCE OF UNIVERSITY HOSPITALS BY RATIO ANALYSIS METHOD

Directory of Open Access Journals (Sweden)

Ferda BÜLÜÇ

2017-09-01

Full Text Available This study aims to evaluate the financial performances of public university hospitals in Turkey; make contribution to the related literature in accordance with the findings and develop recommendations for the decision makers. Within the scope of the study, financial statements of revolving fund of the 43 public university hospitals for the years of 2013, 2014 and 2015 were obtained from the Ministry of Finance General Directorate of Public Accounts. Financial statements were evaluated by ratio analysis method. After analysing, it has been reached that the burden of debt of the hospitals were high,  they have been experiencing the problem of paying short term debts, stock turnover rates and turnover rates were low and the incomes of the hospitals can not cover their expenses. It is recomended that hospitals should use resources more efficiently and decision makers should consider education and research activities in budget allocation to university hospitals.

Risks Analysis of Logistics Financial Business Based on Evidential Bayesian Network

Directory of Open Access Journals (Sweden)

Ying Yan

2013-01-01

Full Text Available Risks in logistics financial business are identified and classified. Making the failure of the business as the root node, a Bayesian network is constructed to measure the risk levels in the business. Three importance indexes are calculated to find the most important risks in the business. And more, considering the epistemic uncertainties in the risks, evidence theory associate with Bayesian network is used as an evidential network in the risk analysis of logistics finance. To find how much uncertainty in root node is produced by each risk, a new index, epistemic importance, is defined. Numerical examples show that the proposed methods could provide a lot of useful information. With the information, effective approaches could be found to control and avoid these sensitive risks, thus keep logistics financial business working more reliable. The proposed method also gives a quantitative measure of risk levels in logistics financial business, which provides guidance for the selection of financing solutions.

CONTENT ANALYSIS, DISCOURSE ANALYSIS, AND CONVERSATION ANALYSIS: PRELIMINARY STUDY ON CONCEPTUAL AND THEORETICAL METHODOLOGICAL DIFFERENCES

Directory of Open Access Journals (Sweden)

Anderson Tiago Peixoto Gonçalves

2016-08-01

Full Text Available This theoretical essay aims to reflect on three models of text interpretation used in qualitative research, which is often confused in its concepts and methodologies (Content Analysis, Discourse Analysis, and Conversation Analysis. After the presentation of the concepts, the essay proposes a preliminary discussion on conceptual and theoretical methodological differences perceived between them. A review of the literature was performed to support the conceptual and theoretical methodological discussion. It could be verified that the models have differences related to the type of strategy used in the treatment of texts, the type of approach, and the appropriate theoretical position.

Financial feasibility analysis, small business farm beef cattle livestock in Gorontalo District

Directory of Open Access Journals (Sweden)

Amir Halid

2017-12-01

Full Text Available The objectives of this research are: 1 analyze the responses of farmers on small business farm beef cattle livestock in Gorontalo District, 2 analyze the feasibility of small business farm beef cattle livestock in Gorontalo District, 3 analyze the estimated increase of beef cattle production in Gorontalo District. The research method that used is survey method. The data analysis used in this research are descriptive analysis, feasibility analysis, and forecasting analysis. The result of this research showed: 1 The development of beef cattle business is an industry in the field of agribusiness with no limited. Beef cattle farmers said this business could give a huge profits. It can be seen from people welfare that increased, this business does not require a large cost from the technical point of view (cost of facilities and infrastructure, 2 Based on financial analysis aspect of beef cattle livestock is feasible to develop. 3 The result of forecasting analysis can be seen that there will be increased production for the Year 2017-2019 at all intervals except at 1-2cows. Keyword: Financial Feasibility, Beef Cattle, Agribusiness

Preliminary design analysis of the ALT-II limiter for TEXTOR

International Nuclear Information System (INIS)

Koski, J.A.; Boyd, R.D.; Kempka, S.M.; Romig, A.D. Jr.; Smith, M.F.; Watson, R.D.; Whitley, J.B.; Conn, R.W.; Grotz, S.P.

1984-01-01

Installation of a large toroidal belt pump limiter, Advanced Limiter Test II (ALT-II), on the TEXTOR tokamak at Juelich, FRG is anticipated for early 1986. This paper discusses the preliminary mechanical design and materials considerations undertaken as part of the feasibility study phase for ALT-II. Since the actively cooled limiter blade is the component in direct contact with the plasma edge, and thus subject to the severe plasma environment, most preliminary design efforts have concentrated on analysis of the blade. The screening process which led to the recommended preliminary design consisting of a dispersion strenghthened copper or OFHC copper cover plate over an austenitic stainless steel base plate is discussed. A 1 to 3 mm thick low atomic number coating consisting of a graded plasma-sprayed Silicon Carbide-Aluminium composite is recommended subject to further experiment and evaluation. Thermal-hydraulic and stress analyses of the limiter blade are also discussed. (orig.)

The Discriminant Analysis: an Exploratory Study Concerning the Degree of Financial Autonomy of Companies in the Context of the Romanian Business Environment

Directory of Open Access Journals (Sweden)

Marinela Mironiuc

2010-12-01

Full Text Available This study aims at analyzing the evolution of financial autonomy on a sample of 80 companies quoted in the Bucharest Stock Exchange, between 2006-2008. Classically, financial autonomy is measured using the global and day-to-day rates of financial autonomy. However, this study has tested the dependency between the global rate of financial autonomy (Own Capital/ Total debts and a series of economic and financial indicators, with the purpose of obtaining both a score function that would help making a classification of the companies subject to our analysis, in performance groups (companies with a high financial autonomy, companies with a medium financial autonomy, companies with a low financial autonomy, and companies with no financial autonomy, and quantifying the influence of the relative variations of these economic and financial indicators on the relative variation of financial autonomy. In order to calculate the results, the statistic instrument SPSS 15.0 was used, and the work method was the discriminant analysis and the regression and multiple correlation analysis.

Financial Markets Analysis by Probabilistic Fuzzy Modelling

NARCIS (Netherlands)

J.H. van den Berg (Jan); W.-M. van den Bergh (Willem-Max); U. Kaymak (Uzay)

2003-01-01

textabstractFor successful trading in financial markets, it is important to develop financial models where one can identify different states of the market for modifying one???s actions. In this paper, we propose to use probabilistic fuzzy systems for this purpose. We concentrate on Takagi???Sugeno

Financial markets analysis by probabilistic fuzzy modelling

NARCIS (Netherlands)

Berg, van den J.; Kaymak, U.; Bergh, van den W.M.

2003-01-01

For successful trading in financial markets, it is important to develop financial models where one can identify different states of the market for modifying one???s actions. In this paper, we propose to use probabilistic fuzzy systems for this purpose. We concentrate on Takagi???Sugeno (TS)

Preliminary analysis of patent trends for magnetic fusion technology

International Nuclear Information System (INIS)

Levine, L.O.; Ashton, W.B.; Campbell, R.S.

1984-02-01

This study presents a preliminary analysis of development trends in magnetic fusion technology based on data from US patents. The research is limited to identification and description of general patent activity and ownership characteristics for 373 patents. The results suggest that more detailed studies of fusion patents could provide useful R and D planning information

Leadership development practices and hospital financial outcomes.

Science.gov (United States)

Crowe, Daniel; Garman, Andrew N; Li, Chien-Ching; Helton, Jeff; Anderson, Matthew M; Butler, Peter

2017-08-01

Affordable Care Act legislation is requiring leaders in US health systems to adapt to new and very different approaches to improving operating performance. Research from other industries suggests leadership development can be a helpful component of organizational change strategies; however, there is currently very little healthcare-specific research available to guide design and deployment. The goal of this exploratory study is to examine potential relationships between specific leadership development practices and health system financial outcomes. Results from the National Center for Healthcare Leadership survey of leadership development practices were correlated with hospital and health system financial performance data from the 2013 Medicare Cost Reports. A general linear regression model, controlling for payer mix, case-mix index, and bed size, was used to assess possible relationships between leadership practices and three financial performance metrics: operating margin, days cash on hand, and debt to capitalization. Statistically significant associations were found between hospital-level operating margins and 5 of the 11 leadership practices as well as the composite score. Relationships at the health system level, however, were not statistically significant. Results provide preliminary evidence of an association between hospital financial performance and investments made in developing their leaders.

Financial conflicts of interest and conclusions about neuraminidase inhibitors for influenza: an analysis of systematic reviews.

Science.gov (United States)

Dunn, Adam G; Arachi, Diana; Hudgins, Joel; Tsafnat, Guy; Coiera, Enrico; Bourgeois, Florence T

2014-10-07

Industry funding and financial conflicts of interest may contribute to bias in the synthesis and interpretation of scientific evidence. To examine the association between financial conflicts of interest and characteristics of systematic reviews of neuraminidase inhibitors. Retrospective analysis. Reviews that examined the use of neuraminidase inhibitors in the prophylaxis or treatment of influenza, were published between January 2005 and May 2014, and used a systematic search protocol. Two investigators blinded to all information regarding the review authors independently assessed the presentation of evidence on the use of neuraminidase inhibitors as favorable or not favorable. Financial conflicts of interest were identified using the index reviews, other publications, and Web-based searches. Associations between financial conflicts of interest, favorability assessments, and presence of critical appraisals of evidence quality were analyzed. Twenty-six systematic reviews were identified, of which 13 examined prophylaxis and 24 examined treatment, accounting for 37 distinct assessments. Among assessments associated with a financial conflict of interest, 7 of 8 (88%) were classified as favorable, compared with 5 of 29 (17%) among those without a financial conflict of interest. Reviewers without financial conflicts of interest were more likely to include statements about the quality of the primary studies than those with financial conflicts of interest. The heterogeneity in populations and outcomes examined in the reviews precluded analysis of the contribution of selective inclusion of evidence on the discordance of the assessments made in the reviews. Many of the systematic reviews had overlapping authorship. Reviewers with financial conflicts of interest may be more likely to present evidence about neuraminidase inhibitors in a favorable manner and recommend the use of these drugs than reviewers without financial conflicts of interest. Australian National Health and

Public health financial management competencies.

Science.gov (United States)

Honoré, Peggy A; Costich, Julia F

2009-01-01

The absence of appropriate financial management competencies has impeded progress in advancing the field of public health finance. It also inhibits the ability to professionalize this sector of the workforce. Financial managers should play a critical role by providing information relevant to decision making. The lack of fundamental financial management knowledge and skills is a barrier to fulfilling this role. A national expert committee was convened to examine this issue. The committee reviewed standards related to financial and business management practices within public health and closely related areas. Alignments were made with national standards such as those established for government chief financial officers. On the basis of this analysis, a comprehensive set of public health financial management competencies was identified and examined further by a review panel. At a minimum, the competencies can be used to define job descriptions, assess job performance, identify critical gaps in financial analysis, create career paths, and design educational programs.

Financial Literacy and Self-Employment

OpenAIRE

Cumurovic, Aida; Hyll, Walter

2016-01-01

In this paper, we study the relationship between financial literacy and self-employment. We use established financial knowledge-based questions to measure financial literacy levels. The analysis shows a highly significant correlation between self-employment and financial literacy scores. To investigate the impact of financial literacy on being self-employed, we apply instrumental variable techniques based on information on economic education before entering the labour market and education of ...

Preliminary analysis of the KAERI RCCS Experiment Using GAMMA+

Energy Technology Data Exchange (ETDEWEB)

Khoza, Samukelisiwe; Tak, Nam-il; Lim, Hong-Sik; Lee, Sung-Nam; Cho, Bong-Hyun; Kim, Jong-Hwan [Korea Atomic Energy Research Institute, Daejeon (Korea, Republic of)

2015-05-15

This paper describes the analysis of the KAERI RCCS experiment. GAMMA+ code was used for analysis of the RCCS 1/4-scale natural cooling experimental facility designed and built at KAERI to verify the performance of the natural circulation phenomenon. The results obtained from the GAMMA+ analysis showing the temperature profiles and flow rates at steady state were compared with the results from the preliminary experiments conducted in this facility. GAMMA+ analysis for the KAERI RCCS experimental setup was carried out to understand its natural circulation behavior. The air flow rate at the chimney exit achieved by experiments was from to be almost same as that of GAMMA+.

Self-confidence in financial analysis: a study of younger and older male professional analysts.

Science.gov (United States)

Webster, R L; Ellis, T S

2001-06-01

Measures of reported self-confidence in performing financial analysis by 59 professional male analysts, 31 born between 1946 and 1964 and 28 born between 1965 and 1976, were investigated and reported. Self-confidence in one's ability is important in the securities industry because it affects recommendations and decisions to buy, sell, and hold securities. The respondents analyzed a set of multiyear corporate financial statements and reported their self-confidence in six separate financial areas. Data from the 59 male financial analysts were tallied and analyzed using both univariate and multivariate statistical tests. Rated self-confidence was not significantly different for the younger and the older men. These results are not consistent with a similar prior study of female analysts in which younger women showed significantly higher self-confidence than older women.

Financial innovation: Economic growth versus instability in bank-based versus financial market driven economies

NARCIS (Netherlands)

Boot, A.W.A.; Marinč, M.

2010-01-01

A fundamental feature of recent financial innovations is their focus on augmenting marketability. We point at the potential dark side of marketability. The paper casts its analysis of the pros and cons of financial innovation within the financial development and economic growth debate. The

Preliminary thermal and stress analysis of the SINQ window

International Nuclear Information System (INIS)

Heidenreich, G.

1991-01-01

Preliminary results of a finite element analysis for the SINQ proton beam window are presented. Temperatures and stresses are calculated in an axisymmetric model. As a result of these calculations, the H 2 O-cooled window (safety window) could be redesigned in such a way that plastic deformation resulting from excessive stress in some areas is avoided. (author)

The proprietary hospital industry: a financial analysis 1972-1982.

Science.gov (United States)

Michel, A; Shaked, I; Daley, J

1985-01-01

This paper evaluates the performance of both specific firms within the American for-profit hospital industry and the industry as a whole. First, traditional financial analysis is used to evaluate individual publicly traded for-profit chains. Then, industry performance from 1973 to 1982 is evaluated using a set of measures based on Modern Portfolio Theory. The traditional financial analysis indicates that the industry seems increasingly profitable as well as increasingly healthy from the perspective of utilizing its assets and reducing its collection period. However, the industry's rapid growth rate has strained its ability to use additional debt funding and has created a potentially dangerous liquidity position. Measures based on Modern Portfolio Theory indicate that the average return of the industry has improved over the past 5 years. However, its risk has also increased. Nevertheless, the increase in risk is more than offset by the increased average return. In addition, recent legislation designed 'to reward the efficient' has introduced a significant degree of uncertainty into the industry's performance for the coming years. Thus, hospitals' ability to maintain the substantial profitability and rate of growth they have experienced over the past decade will depend on how well they will adapt to the changing environment.

Preliminary Disposal Analysis for Selected Accelerator Production of Tritium Waste Streams

International Nuclear Information System (INIS)

Ades, M.J.; England, J.L.

1998-06-01

A preliminary analysis was performed for two selected Accelerator Production of Tritium (APT) generated mixed and low-level waste streams to determine if one mixed low-level waste (MLLW) stream that includes the Mixed Waste Lead (MWL) can be disposed of at the Nevada Test Site (NTS) and at the Hanford Site and if one low-level radioactive waste (LLW) stream, that includes the Tungsten waste stream (TWS) generated by the Tungsten Neutron Source modules and used in the Target/Blanket cavity vessel, can be disposed of in the LLW Vaults at the Savannah River Plant (SRP). The preliminary disposal analysis that the radionuclide concentrations of the two selected APT waste streams are not in full compliance with the Waste Acceptance Criteria (WAC) and the Performance Assessment (PA) radionuclide limits of the disposal sites considered

ECONOMIC ANALYSIS OF EXPLORATION FOR AND EVELUATION OF MINERAL RESOURCES BASED ON FINANCIAL STATEMENTS

Directory of Open Access Journals (Sweden)

Andrey Nikolayevich Belonogov

2016-02-01

Full Text Available The article examines different techniques of economic analysis of exploration costs. The purpose of the article is to develop an approach to exploration costs economic analysis and to propose recommendations on improvement of an analytical value of Notes to Financial Statements. To achieve the purpose analysis, synthesis, deductive methods were employed. In course of the research we analyzed studies of J.C. Alfaro, A. Naggar, А.А. Muzychenko, E.V. Shevchenko, etc. We proposed an approach to economic analysis of resources sufficiency to complete exploration and evaluation works and to accounting for exploration and evaluation activities risks. We also proposed to supplement Notes to Financial Statements with additional relevant data. Results of the research can be used by investment analysts in order to enhance understanding of specific industry risks.

Purification, crystallization and preliminary X-ray structure analysis of the laccase from Ganoderma lucidum

International Nuclear Information System (INIS)

Lyashenko, Andrey V.; Belova, Oksana; Gabdulkhakov, Azat G.; Lashkov, Alexander A.; Lisov, Alexandr V.; Leontievsky, Alexey A.; Mikhailov, Al’bert M.

2011-01-01

The purification, crystallization and preliminary X-ray structure analysis of the laccase from G. lucidum are reported. The ligninolytic enzymes of the basidiomycetes play a key role in the global carbon cycle. A characteristic property of these enzymes is their broad substrate specificity, which has led to their use in various biotechnologies, thus stimulating research into the three-dimensional structures of ligninolytic enzymes. This paper presents the purification, crystallization and preliminary X-ray analysis of the laccase from the ligninolytic basidiomycete Ganoderma lucidum

THE ASSESSMENT OF FINANCIAL AND NON-FINANCIAL INDICATORS IN EVALUATING THE PERFORMANCE OF A COMPANY

OpenAIRE

Kotāne, Inta

2013-01-01

In this article the findings of a survey of entrepreneurs’ viewpoint are collected. It is carried out with an aim of clarifying the importance of financial and non-financial indicators in evaluating the performance of a company as well as the factors that influence the impartiality of financial and non-financial indicators and the factors that interfere with financial and non-financial analysis of a company. The topicality of this research is based on the reason that many authors have carried...

The effect of financial development on economic growth: a meta-analysis

NARCIS (Netherlands)

Bijlsma, Michiel; Kool, Clemens; Non, Marielle

2017-01-01

Empirical studies on the finance-growth relationship show a wide range of estimated effects. We perform a meta-analysis on in total 551 estimates from 68 empirical studies that take private credit to GDP as a measure for financial development and distinguish between linear and logarithmic

The effect of financial development on economic growth: a meta-analysis

NARCIS (Netherlands)

Bijlsma, Michiel; Kool, Clemens; Non, Marielle

2017-01-01

Empirical studies on the nance-growth relationship show a wide range of estimated effects. We perform a meta-analysis on in total 551 estimates from 68 empirical studies that take private credit to GDP as a measure for financial development and distinguish between linear and logarithmic

INSTABILITY MODELING OF FINANCIAL PYRAMIDS

OpenAIRE

Girdzijauskas, Stasys; Moskaliova, Vera

2005-01-01

The financial structures that make use of money flow for “easy money” or cheating purpose are called financial pyramids. Recently financial pyramids intensively penetrates IT area. It is rather suitable way of the fraud. Money flow modeling and activity analysis of such financial systems allows identifying financial pyramids and taking necessary means of precautions. In the other hand even investing companies that function normally when market conditions changes (e.g. interest rates) eventual...

Corporate Health and Wellness and the Financial Bottom Line

Science.gov (United States)

Conradie, Christina Susanna; van der Merwe Smit, Eon; Malan, Daniel Pieter

2016-01-01

Objective: The research objective was to test the hypothesis that corporate health and wellness contributed positively to South African companies’ financial results. Methods: The past share market performance of eligible healthy companies, based on Discovery's Healthy Company Index, was tracked under three investment scenarios and compared with the market performance on the basis of the JSE FTSE All Share Index. Results: The evidence supports the hypothesis that a culture of health and wellness provides a financial advantage, in so far as the portfolio of healthy companies consistently outperformed the market over the selected simulations. Conclusions: Given the limitations of the investigation, namely small sample size, the brevity of the period of investigation, and the reliance on accessibility sampling, the research provides the first and preliminary evidence supportive of the direct financial benefits of companies’ wellness programs. PMID:26849271

A Financial Analysis Program That Will PASS the Farm Manager “Interest Testâ€

OpenAIRE

Wilson, Christine; Bernard, Freddie; Boehlje, Michael

2007-01-01

This paper discusses a farm financial analysis program, along with four features of the program that have facilitated its use by farm managers. The four features that appear to increase farm manager interest in the program are Performancebased, Accrual-adjusted income statement, System of financial analysis, and Simple to use. We illustrate this program with application to a farm firm case study.

Supply Driven Financial Inclusion of India- An Interstate Analysis

OpenAIRE

Das, Tiken

2015-01-01

This paper attempts to measure and understand financial inclusion by looking at availability and accessibility elements of financial services. The study was carried out by constructing one Composite Financial Inclusion Index with different financial services indicators. One observes a lot of variation across states, for rural and urban regions. Even within a state, differences are clearly evident between rural and urban areas for the different indicators considered. The paper concludes to pro...

EQUILIBRIUM ANALYSIS OF FINANCIAL COMPANY BASED ON INFORMATION PROVIDED BY THE BALANCE SHEET

Directory of Open Access Journals (Sweden)

Ștefăniță ȘUȘU

2014-06-01

Full Text Available This article highlights the importance of indicators (as net working capital, working capital requirements and net cash by means of which it is considered in the context of financial balances capitalization information released by the balance sheet of an entity tourist profile. Theoretical concepts presented in a logical sequence are combined with the practical example transposed Turism Covasna company. The results of the analysis are interpreted while trying to formulate solutions to the economic and financial viability of the entity.

Financial and Staffing Ratio Analysis: Predicting Fiscal Distress in School Districts.

Science.gov (United States)

Lee, Robert Alan

1983-01-01

From analysis of data from 579 school districts it is concluded that financial ratios have the ability to forecast fiscal distress a year in advance. Liquidity ratios and salary and fringe benefit ratios were found to be strong forecasters, while per pupil expenditure data had little predictive value. (MJL)

Financial Liberalisation and the South Korean Financial Crisis: Some Qualitative Evidence

OpenAIRE

Kevin Amess; Panicos Demetriades

2001-01-01

This paper provides a novel analysis of the South Korean financial crisis drawing on the findings of a unique survey of IMF/World Bank officials and South Korean economists. The survey reveals that over-optimism and inadequate recognition of financial risks inadvertently led to excessive risk taking by Korean financial intermediaries. It also indicates that the sources of over-optimistic assessments of East Asian economies, including Korea, were mainly to be found outside East Asia, including...

Financial Exploitation Is Associated With Structural and Functional Brain Differences in Healthy Older Adults.

Science.gov (United States)

Spreng, R Nathan; Cassidy, Benjamin N; Darboh, Bri S; DuPre, Elizabeth; Lockrow, Amber W; Setton, Roni; Turner, Gary R

2017-10-01

Age-related brain changes leading to altered socioemotional functioning may increase vulnerability to financial exploitation. If confirmed, this would suggest a novel mechanism leading to heightened financial exploitation risk in older adults. Development of predictive neural markers could facilitate increased vigilance and prevention. In this preliminary study, we sought to identify structural and functional brain differences associated with financial exploitation in older adults. Financially exploited older adults (n = 13, 7 female) and a matched cohort of older adults who had been exposed to, but avoided, a potentially exploitative situation (n = 13, 7 female) were evaluated. Using magnetic resonance imaging, we examined cortical thickness and resting state functional connectivity. Behavioral data were collected using standardized cognitive assessments, self-report measures of mood and social functioning. The exploited group showed cortical thinning in anterior insula and posterior superior temporal cortices, regions associated with processing affective and social information, respectively. Functional connectivity encompassing these regions, within default and salience networks, was reduced, while between network connectivity was increased. Self-reported anger and hostility was higher for the exploited group. We observed financial exploitation associated with brain differences in regions involved in socioemotional functioning. These exploratory and preliminary findings suggest that alterations in brain regions implicated in socioemotional functioning may be a marker of financial exploitation risk. Large-scale, prospective studies are necessary to validate this neural mechanism, and develop predictive markers for use in clinical practice. © The Author 2017. Published by Oxford University Press on behalf of The Gerontological Society of America.

Operational Practices and Financial Performance: an Empirical Analysis of Brazilian Manufacturing Companies

Directory of Open Access Journals (Sweden)

André Luís de Castro Moura Duarte

2011-10-01

Full Text Available In the operations management field, operational practices like total quality management or just in time have been seen as a way to improve operational performance and ultimately financial performance. Empirical support for this effect of operational practices in financial performance has been, however, limited due to research design and the inherent difficulties of using performance as a dependent variable. In this paper, we tested the relationship between selected operational practices (quality management, just in time, ISO certification and services outsourcing in financial performance outcomes of profitability and growth. A sample of 1200 firms, operating in São Paulo, Brazil, was used. Analysis using multiple regression explored the direct effect of practices and their interaction with industry dummies. Results did not support the existence of a positive relationship with financial performance. A negative relationship of outsourcing with both profitability and growth was found, supporting some critical views of the outsourcing practice. A weaker negative relationship between ISO certification and growth was also found. Some interactions between practices and industries were also significant, with mixed results, indicating that the effect of practices on performance might be context dependent.

Empirical research on financial capability evaluation of A-share listed companies in the securities industry based on principal component analysis

Directory of Open Access Journals (Sweden)

Xiuping Wang

2017-11-01

Full Text Available Based on the relevant financial data indicators of A-share markets of Shanghai and Shenzhen in 2009, with all of 29 listed companies in the securities industry as the research objects, this paper selects 10variables that can fully reflect the financial capability indicators and uses the principal component analysis to carry out the empirical research on the financial capability. The research results show that the comprehensive financial capability of listed companies in A-share securities industry must be focused on the following four capabilities, investment and income, profit, capital composition and debt repayment and cash flow indicators. In addition, the principal component analysis can effectively evaluate the financial capability of listed companies in A-share securities industry, and solve the problems in the previous analysis methods, such as excessive indicators, information overlapping and so on.

The impact of financial position on investment: an analysis for non-financial corporations in the euro area

OpenAIRE

Carmen Martínez-Carrascal; Annalisa Ferrando

2008-01-01

This paper analyses the impact that firms financial position has on investment decisions using panel data from a large sample of non-financial corporations(around 120,000 firms) in six euro area countries(Belgium, Germany, France, Italy, the Netherlands and Spain). The results indicate that financial position is important to explain capital expenditures, as financial pressure appears relevant in explaining investment dynamics when it is proxied by cash flow, indebtedness and debt burden. The ...

INNOVATIONS IN FINANCIAL ANALYTICS

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T. V. Teplova

2012-01-01

Full Text Available In this paper as the main feature of innovation in the financial health of a company analyst view the shift to two circuits of key interests of owners of capital (financial stakeholders. Justifi ed by differences key financial systems within the contour ownership interest and the lender three projections: liquidity, the current economic efficiency and growth. In the paper as the main feature of the innovation in the analysis of the financial health of a company is considered a transition to the two circuits of the interests of the key owners of financial capital (financial stakeholders. Justifi ed differences of key financial indicator systems in the framework of the outline of the interests of the owner and the lender by three projections: liquidity, efficiency and the quality of growth. The examples of Russian companies have different interpretations of financial targets and indicators with a choice of activities.

Crystallization and preliminary X-ray diffraction analysis of West Nile virus

International Nuclear Information System (INIS)

Kaufmann, Bärbel; Plevka, Pavel; Kuhn, Richard J.; Rossmann, Michael G.

2010-01-01

Crystals of infectious West Nile virus were obtained and diffracted at best to about 25 Å resolution. Preliminary analysis of the diffraction pattern suggested tight hexagonal packing of the intact virus. West Nile virus, a human pathogen, is closely related to other medically important flaviviruses of global impact such as dengue virus. The infectious virus was purified from cell culture using polyethylene glycol (PEG) precipitation and density-gradient centrifugation. Thin amorphously shaped crystals of the lipid-enveloped virus were grown in quartz capillaries equilibrated by vapor diffusion. Crystal diffraction extended at best to a resolution of about 25 Å using synchrotron radiation. A preliminary analysis of the diffraction images indicated that the crystals had unit-cell parameters a ≃ b ≃ 480 Å, γ = 120°, suggesting a tight hexagonal packing of one virus particle per unit cell

Owen Barwell - Chief Financial Officer | NREL

Science.gov (United States)

Owen Barwell - Chief Financial Officer Owen Barwell - Chief Financial Officer A photo of Owen , analysis, and management. He previously served as the Acting Chief Financial Officer and Deputy Chief Financial Officer of the U.S. Department of Energy (DOE), where he was directly responsible for DOE's

Financial Performance Bank BNI Syariah Company

Directory of Open Access Journals (Sweden)

Diana Widhi Rachmawati

2018-05-01

Full Text Available ABSTRACT PT Bank BNI Syariah, one of them working are a big banking company is almost covering all over the country until now looked at  pretty good company asset which are owned, so author conduct research in the title “Financial Performance PT Bank BNI Syariah in Solvability Ratio”. Financial Statement Analysis is aplication from tools and technical analysis financial report general aim and data to be related and estimation produce useful conclutions in business analysis. Financial Performance Analysis research used analysis methode is solvability ratio. General aim to give information finance performance PT Bank BNI Syariah development.  Special goals is finance performance PT Bank BNI Syariah from Solvability Ratio”. This Sample is: PT Bank BNI Syariah. Final result which is research obtained it says finance performance  PT Bank BNI Syariah from Solvability Ratio quite solvable, because this three point inside it contained increased.  This development hope PT Bank BNI Syariah, to be remain consistent with trying to do breakthrough a company goals   Key Words  :  Financial Performance PT Bank BNI Syariah

Financial cost-benefit analysis of investment possibilities in district heating system on wood residues

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Stošić Ivan

2017-01-01

Full Text Available The purpose of this research is to provide feasibility analysis of a long-term sustainable development concept for district heating based on wood residues. In this paper, the experimental study has been conducted starting from the data collected by field researches in municipality of Trstenik (town in Serbia with district heating system currently based on heavy fuel oil and lignite. Using the method of Financial Cost-Benefit Analysis, this study evaluates financial efficiency of investment in district heating plant based on wood residues and energy savings in district heating system. Findings show that such investment could be profitable from the financial point of view: Net Present Value of investment is positive, Financial Rate of Return is high (30.69%, and the pay-back period is relatively favourable (7 years. Moreover, the presented SWOT indicates that there are realistic prospects of implementation of district heating based on wood residues. However, this does not mean everything will go smoothly and easily, keeping in mind a number of challenges that each new concept of district heating contains immanently. Nevertheless, the results of this research could provide useful inputs for the decision makers when selecting appropriate models for improving performance of municipal district heating systems.

Preliminary Safety Analysis Report for the Tokamak Physics Experiment

International Nuclear Information System (INIS)

Motloch, C.G.; Bonney, R.F.; Levine, J.D.; Masson, L.S.; Commander, J.C.

1995-04-01

This Preliminary Safety Analysis Report (PSAR), includes an indication of the magnitude of facility hazards, complexity of facility operations, and the stage of the facility life-cycle. It presents the results of safety analyses, safety assurance programs, identified vulnerabilities, compensatory measures, and, in general, the rationale describing why the Tokamak Physics Experiment (TPX) can be safely operated. It discusses application of the graded approach to the TPX safety analysis, including the basis for using Department of Energy (DOE) Order 5480.23 and DOE-STD-3009-94 in the development of the PSAR

Industry specific financial distress modeling

Directory of Open Access Journals (Sweden)

Naz Sayari

2017-01-01

Full Text Available This study investigates uncertainty levels of various industries and tries to determine financial ratios having the greatest information content in determining the set of industry characteristics. It then uses these ratios to develop industry specific financial distress models. First, we employ factor analysis to determine the set of ratios that are most informative in specified industries. Second, we use a method based on the concept of entropy to measure the level of uncertainty in industries and also to single out the ratios that best reflect the uncertainty levels in specific industries. Finally, we conduct a logistic regression analysis and derive industry specific financial distress models which can be used to judge the predictive ability of selected financial ratios for each industry. The results show that financial ratios do indeed echo industry characteristics and that information content of specific ratios varies among different industries. Our findings show diverging impact of industry characteristics on companies; and thus the necessity of constructing industry specific financial distress models.

STRUCTURAL RELATIONS OF FINANCIAL STATEMENTS AND THE INSTRUMENTS OF FINANCIAL MANAGEMENT

OpenAIRE

CLAUDIA ISAC; ALIN ISAC

2012-01-01

The present paper aims to highlight the dynamic nature of the balance sheet as a component of annual financial statements and the informational support offered by the indicators calculated for financial analysis. In the first part of the paper there are presented some theoretical issues about the current context of the use of financial statements as a useful tool in the process of decision making and the forms and the parts of such situations. The balance sheet represents a model of the firm'...

ANALYSIS OF COMPANY SIZE, FINANCIAL LEVERAGE, AND PROFITABILITY AND ITS EFFECT TO CSR DISCLOSURE

OpenAIRE

Suskim Riantani; Hafidz Nurzamzam

2015-01-01

This study aims to analyze and recognize the effect of financial performance measured through company size, financial leverage and profitability to Corporate Social Responsibility Disclosure (CSRD). The research was done in Tobacco Company listed in Indonesia Stock Exchange during period of 2007-2011. Descriptive analysis and verification method was used as the research method. The purposive sampling method was used to obtain the sample and there are three cigarette companies as the sample. M...

ADMINISTRATIVE AND LEGAL PRINCIPLES OF FUNCTIONING OF THE FINANCIAL SYSTEM IN UKRAINE AND EUROPE: A COMPARATIVE ANALYSIS

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Kateryna Chyzhmar

2017-12-01

Full Text Available The purpose of the article is a comparative legal analysis of the administrative and legal principles of the functioning of the financial system in Ukraine and European countries. The subject of the study is the peculiarities of the state regulation of financial systems in Great Britain, Germany, Poland, Spain, Sweden, and Ukraine. Methodology. The research is based on comparing the legal regulation of the financial system in Ukraine and in the EU countries. An analysis of European experience in the administrative regulation of financial systems and financial activity has shown that most European states support the policy of regulating the financial system as a holistic, indivisible phenomenon, gradually moving away from its understanding as a set of separate segments. A significant influence on this issue was made by the European Union, within which there was introduced a combination of the most important functions in the regulation of the EU financial system and entrusting them to a separate group of special bodies. Results of the comparative legal study showed that, unlike most European countries, in Ukraine, the administrative and legal framework for the provision of certain components of the financial sector, in particular, banking, investment, tax and budget, financial services market, etc., are not combined into a single model of state regulation of financial system, but they are scattered. In turn, the lack of a unified legal basis for state regulation of the national financial system in practice creates a situation where such regulation is carried out by a large number of state bodies of varying degrees, whose powers are repeated in some cases, which causes contradictions. Practical implications. It is found that the key difference between the regulation of financial systems in the countries of Europe lies in the very principle of perceiving the role of the state in this process and understanding the content of the financial system as a

Financial Health of the Higher Education Sector: 2015-16 to 2018-19 Forecasts. Data Analysis. November 2016/34

Science.gov (United States)

Higher Education Funding Council for England, 2016

2016-01-01

This report provides an overview of the forecast financial health of the HEFCE-funded higher education (HE) sector in England. The analysis covers the financial forecasts for the period 2015-16 to 2018-19, based on information submitted by higher education institutions (HEIs) to HEFCE in July 2016. Financial Reporting Standard (FRS) 102 is the new…

Automotive Manufacturers' Cost/Revenue, Financial and Risk Analysis : Projected Impact of Automobile Manufacturing on the Plastics Industry

Science.gov (United States)

1979-08-01

The report is part of a study to update the historical and projected cost/revenue analysis of the U.S. domestic automobile manufacturers. It includes the evaluation of the historical and projected financial data to assess the corporate financial posi...

ANSI/ASHRAE/IES Standard 90.1-2013 Preliminary Determination: Quantitative Analysis

Energy Technology Data Exchange (ETDEWEB)

Halverson, Mark A.; Rosenberg, Michael I.; Wang, Weimin; Zhang, Jian; Mendon, Vrushali V.; Athalye, Rahul A.; Xie, YuLong; Hart, Reid; Goel, Supriya

2014-03-01

This report provides a preliminary quantitative analysis to assess whether buildings constructed according to the requirements of ANSI/ASHRAE/IES Standard 90.1-2013 would result in energy savings compared with buildings constructed to ANSI/ASHRAE/IES Standard 90.1-2010.

Enron: a financial Tchernobyl?; Enron: un Tchernobyl financier?

Energy Technology Data Exchange (ETDEWEB)

Nicolet, J.L. [Expert Judiciaire, Pres la Cours d' Appel de Versailles, 78 (France); Alazard, C.; Charron, J.L. [Professeurs agreges d' Economie et Gestion, DECF, Lycee de Sevres, 92 (France)

2004-07-01

ENRON is almost more striking as an epitome, a model, than as a scandal. It is the perfect illustration of the occurrence of a major financial risk with strong contaminating repercussions. Close examination of the measures taken after this scandal, and the many other scandals (WorldCom, Vivendi etc.) which followed it, indicates that financial risk does not only, as might be imagined on more superficial analysis, take its roots in fraudulent behaviour. On the contrary, fraudulent behaviour appears merely to act as a catalyst. The authors suggest that a global approach integrating the concepts of industrial risk management provides a far more appropriate prism through which to interpret and develop effective controls for financial risks. After recalling the main facts, they apply the concepts of cindynics (the science of danger) to the Enron case and rapidly reach a first major conclusion: the financial system does not have its foundations in any reliable system of measurement. (authors)

Improving Financial Awareness among College Students: Assessment of a Financial Management Project

Science.gov (United States)

Palmer, Lance; Bliss, Donna L.; Goetz, Joseph W.; Moorman, Diann

2010-01-01

The effect of a financial management intervention on college students' financial behavior was examined. The intervention strategy, a form of expenditure tracking, focused on consciousness-raising and was implemented among 170 undergraduate students. Qualitative analysis of participants' self-reflection papers revealed that awareness of spending…

Profitability and efficiency of Italian utilities: cluster analysis of financial statement ratios

International Nuclear Information System (INIS)

Linares, E.

2008-01-01

The last ten years have witnessed conspicuous changes in European and Italian regulation of public utility services and in the strategies of the major players in these fields. In response to these changes Italian utilities have made a variety of choices regarding size, presence in more or less capital-intensive stages of different value chains, and diversification. These choices have been implemented both through internal growth and by means of mergers and acquisitions. In this context it is interesting to try to establish whether there is a nexus between these choices and the performance of Italian utilities in terms of profitability and efficiency. Therefore statistical multivariate analysis techniques (cluster analysis and factor analysis) have been applied to several ratios obtained from the 2005 financial statement of 34 utilities. First, a hierarchical cluster analysis method has been applied to financial statement data in order to identify homogeneous groups based on several indicators of the incidence of costs (external costs, personnel costs, depreciation and amortization), profitability (return on sales, return on assets, return on equity) and efficiency (in the utilization of personnel, of total assets, of property, plant and equipment). Five clusters have been found. Then the clusters have been characterized in terms of the aforementioned indicators, the presence in different stages of the energy value chains (electricity and gas) and other descriptive variables (such as turnover, number of employees, assets, percentage of property, plant and equipment on total assets, sales revenues from electricity, gas, water supply and sanitation, waste collection and treatment and other services). In a second round cluster analysis has been preceded by factor analysis, in order to find a smaller set of variables. This procedure has revealed three not directly observable factors that can be interpreted as follows: i) efficiency in ordinary and financial management

Financial history and financial economics

OpenAIRE

Turner, John D.

2014-01-01

This essay looks at the bidirectional relationship between financial history and financial economics. It begins by giving a brief history of financial economics by outlining the main topics of interest to financial economists. It then documents and explains the increasing influence of financial economics upon financial history, and warns of the dangers of applying financial economics unthinkingly to the study of financial history. The essay proceeds to highlight the many insights that financi...

Analysis of financial cost models of strategic planning

Directory of Open Access Journals (Sweden)

Vorobev Aleksei Viacheslavovich

2013-11-01

Full Text Available This article analyzes the cost of financial models for strategic planning. Shows the strengths and weaknesses of the model, economic value added EVA (Economic Value Added. Necessity of further development of methods for determining financial policy priorities.

Cognitive Task Analysis of Business Jet Pilots' Weather Flying Behaviors: Preliminary Results

Science.gov (United States)

Latorella, Kara; Pliske, Rebecca; Hutton, Robert; Chrenka, Jason

2001-01-01

This report presents preliminary findings from a cognitive task analysis (CTA) of business aviation piloting. Results describe challenging weather-related aviation decisions and the information and cues used to support these decisions. Further, these results demonstrate the role of expertise in business aviation decision-making in weather flying, and how weather information is acquired and assessed for reliability. The challenging weather scenarios and novice errors identified in the results provide the basis for experimental scenarios and dependent measures to be used in future flight simulation evaluations of candidate aviation weather information systems. Finally, we analyzed these preliminary results to recommend design and training interventions to improve business aviation decision-making with weather information. The primary objective of this report is to present these preliminary findings and to document the extended CTA methodology used to elicit and represent expert business aviator decision-making with weather information. These preliminary findings will be augmented with results from additional subjects using this methodology. A summary of the complete results, absent the detailed treatment of methodology provided in this report, will be documented in a separate publication.

Preliminary safety analysis of the HTTR-IS nuclear hydrogen production system

International Nuclear Information System (INIS)

Sato, Hiroyuki; Ohashi, Hirofumi; Tazawa, Yujiro; Tachibana, Yukio; Sakaba, Nariaki

2010-06-01

Japan Atomic Energy Agency is planning to demonstrate hydrogen production by thermochemical water-splitting IS process utilizing heat from the high-temperature gas-cooled reactor HTTR (HTTR-IS system). The previous study identified that the HTTR modification due to the coupling of hydrogen production plant requires an additional safety review since the scenario and quantitative values of the evaluation items would be altered from the original HTTR safety review. Hence, preliminary safety analyses are conducted by using the system analysis code. Calculation results showed that evaluation items such as a coolant pressure, temperatures of heat transfer tubes at the pressure boundary, etc., did not exceed allowable values. Also, the peak fuel temperature did not exceed allowable value and therefore the reactor core was not damaged and cooled sufficiently. This report compiles calculation conditions, event scenarios and the calculation results of the preliminary safety analysis. (author)

A financial evaluation of biomass-gasifier-based power generation in India

International Nuclear Information System (INIS)

Tripathi, A.K.; Iyer, P.V.R.; Kandpal, T.C.

1997-01-01

A preliminary financial evaluation of biomass-gasifier-based power generation in India was undertaken. Simple cost functions were developed and used for this purpose. The unit cost of electricity has been estimated for a variety of scenarios taking into account some of the uncertainties associated with this emerging technology in India. (author)

THE CURRENT INTERNATIONAL FINANCIAL CRISIS AND THE FINANCIAL SUPERVISION INSTITUTIONAL ARRANGEMENTS EFFECTIVENESS IN THE EUROPEAN UNION COUNTRIES

OpenAIRE

STOICA Ovidiu; CAPRARU Bogdan

2012-01-01

The international financial turmoil rise challenges in evaluating and choosing the optimal financial supervision institutional arrangements in many countries. Our study focuses on the financial supervision institutional architecture and its effectiveness in the European Union during the international financial crisis.We evaluated the effectiveness of the financial supervisory framework by groups of countries, categorised according to the supervisory model. Our analysis demonstrates that the p...

RATIONAL FINANCIAL BEHAVIOR OF POPULATION AS A PROSPERITY FACTOR OF FINANCIAL SECTOR

Directory of Open Access Journals (Sweden)

Sushko E. Yu.

2014-12-01

Full Text Available The rapid sophistication of the Russian financial system inevitably leads not only to the emergence of great opportunities for the development of the financial sector, as expressed in the opening of the new financial institutions or new financial products and services, but also a huge financial risks for companies of this sector, as expressed in the increase of population’s debts and the decline of trust in the financial sector. That is why special tools used in making management decisions about the development of the financial sector in a particular region acquires greater significance. On the basis of statistical data over the Volgograd region the author developed the model of initial attractiveness estimation of an area for business entities, reflecting the level of financial literacy and using the data from open sources of information. The article provides a brief introduction to the development of the methodology: from a theoretical substantiation of the original list of variables for analysis up to determine the regression equation. Obtained regression model can be used by entrepreneurs in case of expansion of their financial business to new areas and by regional governance whose aim is to increase the level of financial literacy.

A FEW CONSIDERATIONS REGARDING THE SPHERE OF FINANCIAL RELATIONS

OpenAIRE

Bota Anton Florin

2009-01-01

The author discusses his financial affairs sphere, looking at this issue under a double aspect: analysis of the financial relations sphere and analyzing the financial activity sphere. Analysis of the financial relations sphere is made on the basis of fou

Financial sector taxation: Financial activities tax or financial transaction tax?

Directory of Open Access Journals (Sweden)

Danuše Nerudová

2011-01-01

Full Text Available The recent financial crises has revealed the need to improve and ensure the stability of the financial sector to reduce negative externalities, to ensure fair and substantial contribution of the financial sector to the public finances and the need to consolidate public finance. All those needs represent substantial arguments for the discussion about the introduction of financial sector taxation. There are discussed in the paper two possible schemes of financial sector taxation – financial transaction tax and financial activities tax. The aim of the paper is to research the possibility of the introduction of financial sector taxation, to discuss the pros and cons of two major candidates on financial sector taxation – financial transaction tax and financial activities tax and to suggest the possible candidate suitable for the implementation on the EU level. Financial transaction tax represents the tool suitable mainly on global level, for only in that case enables generate sufficient financial resources. From EU point of view is considered as less suitable, for it bears the risk of reallocation. Therefore the introduction of financial activities tax on EU level is considered as a better solution for the financial sector taxation in the EU, for financial sector is exempted from value added tax. With respect to the fact, that the implementation would represent the innovative approach to the financial sector taxation, there are no empirical proves and therefore this could be the subject of further research.

Financial management of construction contractors.

OpenAIRE

Lacaria, Chris J.

1994-01-01

The scope of this paper is to discuss the financial management of a construction contractor. This paper attempts to approach this subject in a logical and systematic way. It communicates the importance of financial analysis and planning along with cash planning and profit planning. This report is not intended to be an all inclusive discussion of financial management in construction. Contractor's Financial Management is an extremely important subject. It has been told ...

Ares-I-X Vehicle Preliminary Range Safety Malfunction Turn Analysis

Science.gov (United States)

Beaty, James R.; Starr, Brett R.; Gowan, John W., Jr.

2008-01-01

Ares-I-X is the designation given to the flight test version of the Ares-I rocket (also known as the Crew Launch Vehicle - CLV) being developed by NASA. As part of the preliminary flight plan approval process for the test vehicle, a range safety malfunction turn analysis was performed to support the launch area risk assessment and vehicle destruct criteria development processes. Several vehicle failure scenarios were identified which could cause the vehicle trajectory to deviate from its normal flight path, and the effects of these failures were evaluated with an Ares-I-X 6 degrees-of-freedom (6-DOF) digital simulation, using the Program to Optimize Simulated Trajectories Version 2 (POST2) simulation framework. The Ares-I-X simulation analysis provides output files containing vehicle state information, which are used by other risk assessment and vehicle debris trajectory simulation tools to determine the risk to personnel and facilities in the vicinity of the launch area at Kennedy Space Center (KSC), and to develop the vehicle destruct criteria used by the flight test range safety officer. The simulation analysis approach used for this study is described, including descriptions of the failure modes which were considered and the underlying assumptions and ground rules of the study, and preliminary results are presented, determined by analysis of the trajectory deviation of the failure cases, compared with the expected vehicle trajectory.

A FEW CONSIDERATIONS REGARDING THE SPHERE OF FINANCIAL RELATIONS

Directory of Open Access Journals (Sweden)

Bota Anton Florin

2009-05-01

Full Text Available The author discusses his financial affairs sphere, looking at this issue under a double aspect: analysis of the financial relations sphere and analyzing the financial activity sphere. Analysis of the financial relations sphere is made on the basis of fou

Financial Leverage and Corporate Performance: Does Financial Crisis Owe an Explanation?

Directory of Open Access Journals (Sweden)

Syed Jawad Hussain Shahzad

2015-04-01

Full Text Available The objective of this study is to investigate the impact of financial leverage on corporate financial performance of Pakistan’s textile sector from 1999-2012 using panel data. The leverage-performance relationship is examined with a special focus on the Global Financial Crisis of 2007-2008. Both accounting-based (Return on Assets - ROA and market-based (Tobin’s Q measures of corporate financial performance are used. Regression analysis is performed with and without inclusion of financial crisis dummy. Total Debt to Total Assets (TDTA, Long Term Debt to Total Assets (LDTA, Short Term Debt to Total Assets (SDTA and Debt to Equity (DE ratios are used as proxies for financial leverage whereas firm’s size and firm’s efficiency are used as control variables. The results indicate that financial leverage has a negative impact on corporate performance when measured with ROA. Whereas in case of Tobin’s Q, SDTA coefficient is positive. It can be concluded that since cost of borrowing is high in Pakistan and debt capital markets are less developed, firms are forced to resort to banks as their source of debt finance and thus have to repay huge amount of principal and interest which has a heavy toll on their financial health. In addition to this, financial crisis was found to have a negative impact on corporate performance and also affect the leverage-performance relationship.

Financialization and financial profit

Directory of Open Access Journals (Sweden)

Arturo Guillén

2014-09-01

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

SUMS preliminary design and data analysis development. [shuttle upper atmosphere mass spectrometer experiment

Science.gov (United States)

Hinson, E. W.

1981-01-01

The preliminary analysis and data analysis system development for the shuttle upper atmosphere mass spectrometer (SUMS) experiment are discussed. The SUMS experiment is designed to provide free stream atmospheric density, pressure, temperature, and mean molecular weight for the high altitude, high Mach number region.

Proposal for Standard Index and Analysis of Financial Performance in 2014 of Brazilian Soccer Clubs of Serie A

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Rafael da Costa Jahara

2017-02-01

Full Text Available This study aims to develop a standard index for analysis of the financial performance of the football clubs of Brazil who participated in the series in the year 2014. To prepare the standard index are used economic and financial indicators of liquidity, profitability and debt, as well solvency analysis of the clubs by using the Kanitz model. Based on studies on standard indices to compare the performance of companies were selected for the analysis of balance sheets and statements of income twenty clubs. This study is classified as a descriptive exploratory research, multicases and quantitative approach because the document analysis, on the information that was extracted from financial reports, published on the websites of the respective soccer clubs. As a result, you can see that the clubs generally have poor performance when individually analyzed in both the analysis of liquidity indicators, indebtedness, profitability and solvency. However, such a result can not explain the competitive performance of the teams in that league.

The Effect Of Intangible Asset Financial Performance And Financial Policies On The Firm Value

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Rindu Rika Gamayuni

2015-01-01

Full Text Available Abstract The purpose of this study is to test empirically the relationship between intangible assets financial policies and financial performance to the firm value at going-public company in Indonesia. Path analysis was used to ascertain the relationship between intangible assets financial policies financial performance and firm value at going-public company in Indonesia in the year 2007 to 2009. This study also provides empirical evidence that Intangible assets financial policies financial performance have significant influence to the firm value simultaneously. Intangible assets has no significant influence to financial policies but has positive and significant influenced to financial performance ROA and firm value. Debt policies and financial performance ROA influenced firm value positive and significant. Financial statements limitation in measuring and disclosing intangible assets is the cause of significant difference between book value equity and market value equity. Measurement and disclosure of intangible assets intellectual capital precisely and aqurately is very important because intangible assets have a positive and significant effect to the firm value. Accounting standards should be concerned about this.

Analysis of the financial factors governing the profitability of lunar helium-3

Science.gov (United States)

Kulcinski, G. L.; Thompson, H.; Ott, S.

1989-01-01

Financial factors influencing the profitability of the mining and utilization of lunar helium-3 are examined. The analysis addressed the following questions: (1) which financial factors have the greatest leverage on the profitability of He-3; (2) over what range can these factors be varied to keep the He-3 option profitable; and (3) what ultimate effect could this energy source have on the price of electricity for U.S. consumers. Two complementary methods of analysis were used in the assessment: rate of return on incremental investment required and reduction revenue requirements (total cost to customers) achieved. Some of the factors addressed include energy demand, power generation costs with and without fusion, profitability for D-He(3) fusion, annual capital and operating costs, launch mass and costs, He-3 price, and government funding. Specific conclusions are made with respect to each of the companies considered: utilities, lunar mining company, and integrated energy company.

Numerical analysis for finite-range multitype stochastic contact financial market dynamic systems

International Nuclear Information System (INIS)

Yang, Ge; Wang, Jun; Fang, Wen

2015-01-01

In an attempt to reproduce and study the dynamics of financial markets, a random agent-based financial price model is developed and investigated by the finite-range multitype contact dynamic system, in which the interaction and dispersal of different types of investment attitudes in a stock market are imitated by viruses spreading. With different parameters of birth rates and finite-range, the normalized return series are simulated by Monte Carlo simulation method and numerical studied by power-law distribution analysis and autocorrelation analysis. To better understand the nonlinear dynamics of the return series, a q-order autocorrelation function and a multi-autocorrelation function are also defined in this work. The comparisons of statistical behaviors of return series from the agent-based model and the daily historical market returns of Shanghai Composite Index and Shenzhen Component Index indicate that the proposed model is a reasonable qualitative explanation for the price formation process of stock market systems

Numerical analysis for finite-range multitype stochastic contact financial market dynamic systems

Science.gov (United States)

Yang, Ge; Wang, Jun; Fang, Wen

2015-04-01

In an attempt to reproduce and study the dynamics of financial markets, a random agent-based financial price model is developed and investigated by the finite-range multitype contact dynamic system, in which the interaction and dispersal of different types of investment attitudes in a stock market are imitated by viruses spreading. With different parameters of birth rates and finite-range, the normalized return series are simulated by Monte Carlo simulation method and numerical studied by power-law distribution analysis and autocorrelation analysis. To better understand the nonlinear dynamics of the return series, a q-order autocorrelation function and a multi-autocorrelation function are also defined in this work. The comparisons of statistical behaviors of return series from the agent-based model and the daily historical market returns of Shanghai Composite Index and Shenzhen Component Index indicate that the proposed model is a reasonable qualitative explanation for the price formation process of stock market systems.

Numerical analysis for finite-range multitype stochastic contact financial market dynamic systems

Energy Technology Data Exchange (ETDEWEB)

Yang, Ge; Wang, Jun [School of Science, Beijing Jiaotong University, Beijing 100044 (China); Fang, Wen, E-mail: fangwen@bjtu.edu.cn [School of Economics and Management, Beijing Jiaotong University, Beijing 100044 (China)

2015-04-15

In an attempt to reproduce and study the dynamics of financial markets, a random agent-based financial price model is developed and investigated by the finite-range multitype contact dynamic system, in which the interaction and dispersal of different types of investment attitudes in a stock market are imitated by viruses spreading. With different parameters of birth rates and finite-range, the normalized return series are simulated by Monte Carlo simulation method and numerical studied by power-law distribution analysis and autocorrelation analysis. To better understand the nonlinear dynamics of the return series, a q-order autocorrelation function and a multi-autocorrelation function are also defined in this work. The comparisons of statistical behaviors of return series from the agent-based model and the daily historical market returns of Shanghai Composite Index and Shenzhen Component Index indicate that the proposed model is a reasonable qualitative explanation for the price formation process of stock market systems.

"Financial Bubbles" and Monetary Policy

Science.gov (United States)

Tikhonov, Yuriy A.; Pudovkina, Olga E.; Permjakova, Juliana V.

2016-01-01

The relevance of this research is caused by the need of strengthening a role of monetary regulators to prevent financial bubbles in the financial markets. The aim of the article is the analysis of a problem of crisis phenomena in the markets of financial assets owing to an inadequate growth of their cost, owing to subjective reasons. The leading…

Current Mooring Design in Partner WECs and Candidates for Preliminary Analysis

DEFF Research Database (Denmark)

Thomsen, Jonas Bjerg; Ferri, Francesco; Kofoed, Jens Peter

This report is the combined report of Commercial Milestone "CM1: Design and Cost of Current Mooring Solutions of Partner WECs" and Milestone "M3: Mooring Solutions for Preliminary Analysis" of the EUDP project "Mooring Solutions for Large Wave Energy Converters". The report covers a description o...

Using MSN Money to Perform Financial Ratio Analysis

Science.gov (United States)

Hsu, H. Christine

2010-01-01

In today's information technology world, real time financial data is readily available via many financial websites, such as MSN Money, Google Finance, Yahoo Finance, etc. The incorporation of computer technology in finance classes has become more popular than ever in this information technology rich environment. Mediated classrooms have rapidly…

Financial stability or economic stability?

OpenAIRE

Ana POPA; Laura GIURCA VASILESCU

2010-01-01

This paper is based on the dilemma: effect or cause in the analysis of the economic and financial crisis? The first finding of the study is that it has always been easier to consider that the mistakes from the financial field caused the economic crisis. Currently, in the European Union and Romania there is a concern for aggressive action against financial instability. The second finding is that the crisis phenomenon manifest synergetic, thus the deterioration in the macro and micro- financial...

Reaching Sustainable Financial Health: Gender Differences in Risk-Taking Patterns of Financially Excluded People

Directory of Open Access Journals (Sweden)

Eunmi Kim

2018-04-01

Full Text Available Providing sufficient financial accessibility to low-income individuals is considered a way to decrease income inequality and could be a key factor in sustainable economic growth. To make the financial accessibility policy more effective, analyses of individuals’ understanding of financial risk within low-income groups need to be conducted. The current authors investigated individuals’ attitudes towards loan financial risk in terms of gender difference. Using South Korean survey data, we examined the relationship between gender and attitude towards loan financial risk with a regression analysis. We found that within a low-income group, males were more willing to pay higher interest rates than females. In addition, males’ willingness to pay high interest rates became stronger when their current financial costs were high. The results indicate that males are less careful with the risks that high interest rates can bring. Thus, the results imply that interventions, such as more substantial financial education, are required for males to make financial accessibility polices more effective.

The Development of a Course in Financial Statement Analysis for the Dowling College M.B.A. Program. Curriculum and Program Planning.

Science.gov (United States)

Newman, James F.

In the development of a course in financial statement analysis, the following procedures were implemented: analysis of new accounting pronouncements, new textbooks, and articles on the topic of financial statement analysis; establishment of goals and objectives for the course; and selection of text and content of the course. The course was…

Preliminary analysis for model development of groundwater evolution in Horonobe area

International Nuclear Information System (INIS)

Yoshida, Yasushi; Yui, Mikazu

2003-03-01

The preliminary analysis for model development of groundwater evolution in Horonobe area was performed with data at D-1, HDB-1 and HDB-2 bore hole where hydrogen / oxygen isotope concentration, mineral property in sedimentary rock and physico-chemical parameters (pH, Eh and ionic concentrations) were measured. As a result of analysis for hydrogen and oxygen isotope concentration, saline water in marine sediment was diluted by the mixing with shallow groundwater and diffusion. And as a result of analysis for a concentration of bicarbonate from the difference of pH values measured between in-situ and under air, the estimated in-situ concentration of bicarbonate differs from that measured under air. And minerals which were assumed to be equilibrium with groundwater were selected by thermodynamic calculation. This report presents the results of preliminary analysis for groundwater evolution by using data derived from D-1, HDB-1 and HDB-2 boring research. In order to establish the model which interprets the groundwater evolution as a next step, data which satisfy the representative in-situ property of groundwater chemistry in Horonobe area are needed. Reliable measurements for physico-chemical parameter and property of minerals in sedimentary rock in dominant layer and at the variety of depth are also needed. (author)

The Analysis of Human Resources Policies and Regional Financial Accounting System on Regional Government Financial Statements’ Quality

OpenAIRE

Aida Nahar; Subadriyah Subadriyah; Ali Sofwan

2018-01-01

Accountability of local governments in the implementation of policies should be carried out with the financial statements present the quality. Qualitative characteristics of financial statements described in PP 24/ 2005 that the qualitative characteristics of financial statements is a normative measurement that needs to be realized in the accounting information that can be fulfil its purpose. To be able to raise the normative requirements, this characteristics is absolutely necessary in order...

Radiology applications of financial accounting.

Science.gov (United States)

Leibenhaut, Mark H

2005-03-01

A basic knowledge of financial accounting can help radiologists analyze business opportunities and examine the potential impacts of new technology or predict the adverse consequences of new competitors entering their service area. The income statement, balance sheet, and cash flow statement are the three basic financial statements that document the current financial position of the radiology practice and allow managers to monitor the ongoing financial operations of the enterprise. Pro forma, or hypothetical, financial statements can be generated to predict the financial impact of specific business decisions or investments on the profitability of the practice. Sensitivity analysis, or what-if scenarios, can be performed to determine the potential impact of changing key revenue, investment, operating cost or financial assumptions. By viewing radiology as both a profession and a business, radiologists can optimize their use of scarce economic resources and maximize the return on their financial investments.

National Data Center Preparedness Exercise 2015 (NPE 2015): MY-NDC Preliminary Analysis Result

International Nuclear Information System (INIS)

Faisal Izwan Abdul Rashid; Muhammed Zulfakar Zolkaffly

2016-01-01

Malaysia has established the CTBT National Data Centre (MY-NDC) in December 2005. MY-NDC is tasked to perform Comprehensive Nuclear-Test-Ban-Treaty (CTBT) data management as well as provide information for Treaty related events to Nuclear Malaysia as CTBT National Authority. In 2015, MY-NDC has participated in the National Data Centre Preparedness Exercise 2015 (NPE 2015). This paper aims at presenting MY-NDC preliminary analysis result of NPE 2015. In NPE 2015, MY-NDC has performed five different analyses, namely, radionuclide, atmospheric transport modelling (ATM), data fusion, seismic analysis and site forensics. The preliminary findings show the hypothetical scenario in NPE 2015 most probably is an uncontained event resulted high release of radionuclide to the air. (author)

Risk factors for financial hardship in patients receiving adjuvant chemotherapy for colon cancer: a population-based exploratory analysis.

Science.gov (United States)

Shankaran, Veena; Jolly, Sanjay; Blough, David; Ramsey, Scott D

2012-05-10

Characteristics that predispose patients to financial hardship during cancer treatment are poorly understood. We therefore conducted a population-based exploratory analysis of potential factors associated with financial hardship and treatment nonadherence during and following adjuvant chemotherapy for colon cancer. Patients diagnosed with stage III colon cancer between 2008 and 2010 were identified from a population-based cancer registry representing 13 counties in Washington state. Patients were asked to complete a comprehensive survey on treatment-related costs. Patients were considered to have experienced financial hardship if they accrued debt, sold or refinanced their home, borrowed money from friends or family, or experienced a 20% or greater decline in their annual income as a result of treatment-related expenses. Logistic regression analysis was used to investigate factors associated with financial hardship and treatment nonadherence. A total of 284 responses were obtained from 555 eligible patients (response rate, 51.2%). Nearly all patients in the final sample were insured during treatment. In this sample, 38% of patients reported one or more financial hardships as a result of treatment. The factors most closely associated with treatment-related financial hardship were younger age and lower annual household income. Younger age, lower income, and unemployment or disability (which occurred in most instances following diagnosis) were most closely associated with treatment nonadherence. A significant proportion of patients undergoing adjuvant chemotherapy for stage III colon cancer may experience financial hardship, despite having health insurance coverage. Interventions to help at-risk patients early on during therapy may prevent long-term financial adverse effects.

The Financial Resilience of Independent Colleges and Universities

Science.gov (United States)

Chessman, Hollie M.; Hartley, Harold V., III; Williams, Michael

2017-01-01

This report explores the financial resilience of independent colleges and universities through an analysis of 14 years (fiscal years 2001-2014) of financial data from 559 private nondoctoral institutions. Through analysis of financial performance in several domains, the data reveal that the majority of independent baccalaureate and master's-level…

Psychosocial factors and financial literacy.

Science.gov (United States)

Murphy, John L

2013-01-01

This study uses data from the Health and Retirement Study (HRS) to analyze the psychological and social variables associated with financial literacy. The HRS is a nationally representative longitudinal survey of individuals older than age 50 and their spouses. An ordinary least squares linear regression analysis explores the relationship between financial literacy and several economic and psychosocial variables. After controlling for earnings, level of education, and other socioeconomic variables in this exploratory study, I find that financial satisfaction and religiosity are correlated with financial literacy.

The Effect of Financial Factors on the Performance of New Venture Companies in High Tech and Knowledge-Intensive Industries: An Empirical Study in Denmark

DEFF Research Database (Denmark)

Bøllingtoft, Anne; Ulhøi, John Parm; Madsen, Henning

2003-01-01

This paper addresses important financial aspects during the formation of knowledge-intensive entrepreneurship. A number of ex ante derived hypotheses are submitted to an empirical test to identify and explain some of the key financial factors affecting the survival and first preliminary growth...

Prolonged Financial Distress After the Deepwater Horizon Oil Spill Predicts Behavioral Health.

Science.gov (United States)

Buckingham-Howes, Stacy; Holmes, Katherine; Glenn Morris, J; Grattan, Lynn M

2018-03-13

The economic impact of disasters is well known; however, the link between financial loss and behavioral health problems is unknown. Participants included 198 adults of ages 21 to 82, living within 10 miles of the Gulf Coast during the Deepwater Horizon Oil Spill and were involved in the fishing, harvesting, seafood processing, or service/tourism industries. The functional impact of financial resource loss at 2.5 years post spill was measured using the 26-item Financial Life Events Checklist (FLEC). Individuals responded to financial distress by reducing social events and utility bills and changing food-shopping habits. The FLEC significantly predicted higher drug use (Drug Abuse Screening Test), alcohol use (Alcohol Use Disorders Identification Test), mood problems (Profile of Mood States), and depressive symptoms (Beck Depression Inventory II) (p values ≤ 0.05) 4.5 years after the spill. This preliminary study supports the notion that the functional impact of financial loss has a long-term impact on behavioral health after an oil spill.

Automated drug dispensing systems in the intensive care unit: a financial analysis.

Science.gov (United States)

Chapuis, Claire; Bedouch, Pierrick; Detavernier, Maxime; Durand, Michel; Francony, Gilles; Lavagne, Pierre; Foroni, Luc; Albaladejo, Pierre; Allenet, Benoit; Payen, Jean-Francois

2015-09-09

To evaluate the economic impact of automated-drug dispensing systems (ADS) in surgical intensive care units (ICUs). A financial analysis was conducted in three adult ICUs of one university hospital, where ADS were implemented, one in each unit, to replace the traditional floor stock system. Costs were estimated before and after implementation of the ADS on the basis of floor stock inventories, expired drugs, and time spent by nurses and pharmacy technicians on medication-related work activities. A financial analysis was conducted that included operating cash flows, investment cash flows, global cash flow and net present value. After ADS implementation, nurses spent less time on medication-related activities with an average of 14.7 hours saved per day/33 beds. Pharmacy technicians spent more time on floor-stock activities with an average of 3.5 additional hours per day across the three ICUs. The cost of drug storage was reduced by €44,298 and the cost of expired drugs was reduced by €14,772 per year across the three ICUs. Five years after the initial investment, the global cash flow was €148,229 and the net present value of the project was positive by €510,404. The financial modeling of the ADS implementation in three ICUs showed a high return on investment for the hospital. Medication-related costs and nursing time dedicated to medications are reduced with ADS.

Does Financial Literacy Moderate the Relationship among Demographic Characteristics and Financial Risk Tolerance? Evidence from Egypt

Directory of Open Access Journals (Sweden)

Amir Ali Shusha

2017-09-01

Full Text Available Financial risk tolerance is certainly an important topic for researchers, investors and personal financial planners or consultants. This study purposed to investigate the effect of demographic characteristics on financial risk tolerance among Egyptians. A literature review of demographic determinants of financial risk tolerance showed dialectical results. Therefore, this study attempts to clarify the debatable issues in these results by studying the moderating role of financial literacy in relationships among demographic characteristics and financial risk tolerance. The study sample included 386 respondents representing different segments of Egyptian people. Using the hierarchical regression analysis, the results demonstrated that there were significant effects of gender, age, educational level and annual income on financial risk tolerance. Moreover, the financial literacy moderates the relationships among demographic characteristics of individuals and their tendency to take a risk.

Financial time series analysis based on information categorization method

Science.gov (United States)

Tian, Qiang; Shang, Pengjian; Feng, Guochen

2014-12-01

The paper mainly applies the information categorization method to analyze the financial time series. The method is used to examine the similarity of different sequences by calculating the distances between them. We apply this method to quantify the similarity of different stock markets. And we report the results of similarity in US and Chinese stock markets in periods 1991-1998 (before the Asian currency crisis), 1999-2006 (after the Asian currency crisis and before the global financial crisis), and 2007-2013 (during and after global financial crisis) by using this method. The results show the difference of similarity between different stock markets in different time periods and the similarity of the two stock markets become larger after these two crises. Also we acquire the results of similarity of 10 stock indices in three areas; it means the method can distinguish different areas' markets from the phylogenetic trees. The results show that we can get satisfactory information from financial markets by this method. The information categorization method can not only be used in physiologic time series, but also in financial time series.

Business plan: A preliminary approach to an unknown genre

Directory of Open Access Journals (Sweden)

Federico Navarro

2015-11-01

Full Text Available The business plan has been widely included in the curricula of economics degrees and is key to business practice worldwide, but has not been studied from a socio-discursive perspective yet due to restrictions in its social, spatial, and temporal circulation. Based on interviews and a qualitative analysis of a corpus of 38 texts written in Spanish, I aim to provide a preliminary description of the genre. Results indicate that a chain of four phases is associated to a continuum of social settings organized through entrepreneurial/corporate and expert/training variables; its rhetorical structure includes “describing present/potential situation of the company and market” and “describing future processes of strategic actions regarding the marketing, production, and financial plans”. This analysis offers methodological innovations to account for occluded genres, encourages the contrastive study of the business plan in different cultural and linguistic environments, and assists business teachers with a situated picture of the genre

Cost-Benefit Analysis of Financial Regulation: Case Studies and Implications

OpenAIRE

Coates, John

2015-01-01

Some members of Congress, the D.C. Circuit, and legal academia are promoting a particular, abstract form of cost-benefit analysis for financial regulation: judicially enforced quantification. How would CBA work in practice, if applied to specific, important, representative rules, and what is the alternative? Detailed case studies of six rules – (1) disclosure rules under Sarbanes-Oxley Section 404, (2) the SEC’s mutual fund governance reforms, (3) Basel III’s heightened capital requirements f...

The Government Finance Database: A Common Resource for Quantitative Research in Public Financial Analysis.

Science.gov (United States)

Pierson, Kawika; Hand, Michael L; Thompson, Fred

2015-01-01

Quantitative public financial management research focused on local governments is limited by the absence of a common database for empirical analysis. While the U.S. Census Bureau distributes government finance data that some scholars have utilized, the arduous process of collecting, interpreting, and organizing the data has led its adoption to be prohibitive and inconsistent. In this article we offer a single, coherent resource that contains all of the government financial data from 1967-2012, uses easy to understand natural-language variable names, and will be extended when new data is available.

Enhanced Accident Tolerant Fuels for LWRS - A Preliminary Systems Analysis

Energy Technology Data Exchange (ETDEWEB)

Gilles Youinou; R. Sonat Sen

2013-09-01

The severe accident at Fukushima Daiichi nuclear plants illustrates the need for continuous improvements through developing and implementing technologies that contribute to safe, reliable and cost-effective operation of the nuclear fleet. Development of enhanced accident tolerant fuel contributes to this effort. These fuels, in comparison with the standard zircaloy – UO2 system currently used by the LWR industry, should be designed such that they tolerate loss of active cooling in the core for a longer time period (depending on the LWR system and accident scenario) while maintaining or improving the fuel performance during normal operations, operational transients, and design-basis events. This report presents a preliminary systems analysis related to most of these concepts. The potential impacts of these innovative LWR fuels on the front-end of the fuel cycle, on the reactor operation and on the back-end of the fuel cycle are succinctly described without having the pretension of being exhaustive. Since the design of these various concepts is still a work in progress, this analysis can only be preliminary and could be updated as the designs converge on their respective final version.

An index of financial safety of China

Directory of Open Access Journals (Sweden)

Xiaojun Jia

2015-04-01

Full Text Available Purpose: This paper combines a synthetic index system by the variables and evaluates China’s financial safety through the change of indexes in a comprehensive way. First of all, it builds the financial industry evaluation index system composed of 25indicators in terms of the operation of the financial industry and external economic environment and particularly takes into consideration factors which might trigger liquidity risks such as off-balance-sheet business, interbank business and shadow banking; then it selects 10 indicators to conduct empirical analysis and identifies the indicator weight through principal component analysis; finally it combines the financial safety indexes through the linear weighted comprehensive evaluation model.Design/methodology/approach: Synthesis of indexes is made by constructing a proper comprehensive evaluation mathematical model, integrating a number of evaluation indexes into one comprehensive evaluation index and then obtaining corresponding comprehensive evaluation results. In this paper, it selects 10 indexes to conduct empirical analysis and identifies the index weight through principal component analysis; finally it combines the financial safety indexes through the linear weighted comprehensive evaluation model. Principal component analysis (PCA is a statistical procedure that uses an orthogonal transformation to convert a set of observations of possibly correlated variables into a set of values of linearly uncorrelated variables called principal components. PCA was invented in 1901 and was later independently developed (and named by Harold Hotelling in the 1930s.Findings: From 2003 to 2013 China’s financial safety indexes fluctuated. From 2003 to 2007 indexes rose, which indicates China’s financial safety status gradually improved; from 2007 to 2009 indexes declined, which indicates due to the impact of subprime crisis, China’s financial safety status took a turn for the worse; from 2009 to 2012

Complex Analysis of Financial State and Performance of Construction Enterprises

Directory of Open Access Journals (Sweden)

Algirdas Krivka

2015-12-01

Full Text Available The paper analyses the financial state and performance of large constructions enterprises by applying financial indicators. As there is no one single decisive financial indicator enabling to objectively assess enterprise performance, the multi-criteria decision making (MCDM methods are applied with four groups of financial ratios (profitability, liquidity, solvency and asset turnover acting as evaluation criteria, while the alternatives assessed are two enterprises compared throughout the reference period of three years, also with the average indicator values of the whole construction sector. The weights of the criteria have been estimated by involving competent experts with chi-square test employed to check the degree of agreement of expert estimates. The research methodology contributes to the issue of complex evaluation of enterprise financial state and performance, while the result of the multi-criteria assessment – the ranking of enterprises and sector average with respect to financial state and performance – could be considered worth attention from business owners, potential investors, customers or other possible stakeholders.

Predicting Bank Financial Failures Using Discriminant Analysis And Support Vector Machines Methods A Comparative Analysis In Commercial Banks In Sudan 2006-2014

Directory of Open Access Journals (Sweden)

Mohammed A. SirElkhatim

2017-04-01

Full Text Available Bank failures threaten the economic system as a whole. Therefore predicting bank financial failures is crucial to prevent andor lessen its negative effects on the economic system. Financial crises affecting both emerging markets and advanced countries over the centuries have severe economic consequences but they can be hard to prevent and predict identifying financial crises causes remains both science and art said Stijn Claessens assistant director of the International Monetary Fund. While it would be better to mitigate risks financial crises will recur often in waves and better crisis management is therefore important. Analyses of recurrent causes suggest that to prevent crises governments should consider reforms in many underlying areas. That includes developing prudent fiscal and monetary policies better regulating the financial sector including reducing the problem of too-big-to-fail banks and developing effective macro-prudential policies. Despite new regulations and better supervision crises are likely to recur in part because they can reflect deeper problems related to income inequality the political economy and common human behavior. As such improvements in crisis management are also needed. This is originally a classification problem to categorize banks as healthy or non-healthy ones. This study aims to apply Discriminant analysis and Support Vector Machines methods to the bank failure prediction problem in a Sudanese case and to present a comprehensive computational comparison of the classification performances of the techniques tested. Eleven financial and non-financial ratios with six feature groups including capital adequacy asset quality Earning and liquidity CAMELS are selected as predictor variables in the study. Credit risk also been evaluated using logistic analysis to study the effect of Islamic finance modes sectors and payment types used by Sudanese banks with regard to their possibilities of failure. Experimental results

Expanded Capabilities for the Hydrogen Financial Analysis Scenario Tool (H2FAST)

Energy Technology Data Exchange (ETDEWEB)

Bush, Brian; Melaina, Marc; Penev, Michael

2016-06-08

This presentation describes how NREL expanded the capabilities for the Hydrogen Financial Analysis Scenario Tool (H2FAST) in FY16. It was presented at the U.S. Department of Energy Hydrogen and Fuel Cells Program 2016 Annual Merit Review and Peer Evaluation Meeting on June 8, 2016, in Washington, D.C.

NRC staff preliminary analysis of public comments on advance notice of proposed rulemaking on emergency planning

International Nuclear Information System (INIS)

Peabody, C.A.; Hickey, J.W.N.

1980-01-01

The Nuclear Regulatory Commission (NRC) published an advance notice of proposed rulemaking on emergency planning on July 17, 1979 (44 FR 41483). In October and November 1979, the NRC staff submitted several papers to the Commission related to the emergency planning rulemaking. One of these papers was a preliminary analysis of public comments received on the advance notice (SECY-79-591B, November 13, 1979). This document consists of the preliminary analysis as it was submitted to the Commission, with minor editorial changes

The Financial Service as an Economic Category

OpenAIRE

Matsuk Zoriana A.

2017-01-01

The article is aimed at: systematization of the existing provisions of research on financial service; allocation of the primary, the secondary, and the auxiliary financial services; analysis of the material basis of financial service and its consideration as the sum total of the high and the low material shares; exploration of the issue of cost of financial services. A definition of financial service as the possibility for implementation of a financial interest of market participant has been ...

Analysis of financial soundness of manufacturing companies in Indonesia Stock Exchange

Directory of Open Access Journals (Sweden)

Widi Hidayat

2016-07-01

Full Text Available This study aims to provide information to the issuer and Bapepam and Indonesian Institute of Accountants with additional important information content of ratings and financial soundness of the indicators that do not harm investors. This is an explanatory and descriptive nature of causality using quantitative methods, using all companies listed on the Indonesia Stock Exchange (ISE taken as the sample. The data were analyzed using discriminant statistical analysis tools are processed with SPSS. The results showed that the level of financial soundness of the manufacturing industries listed on the ISE such as 23 (62% Companies Current Asset Growth (CAG is low as well as Fixed Asset growth (FAG 28 (76% companies is still low, Equity Growth (EqG by 27 (73% the company, Revenue growth (RG 27 (65% companies and Net Income Growth (NIG 35 (95% firms. Two manufacturing companies have a very high NIG, thus, NIG average is very high. The seven models of financial soundness were tested based on the growth of corporate finance such as CAG, FAG, LG, EqG, RG, ExG and NIG. Only one model is not significant, the model RG, while the other model is a significant, with a significant difference be-tween the growths rates of the sound and unsound corporate finances industry groups.

Analysis of changing bank services in globalization process of financial business

Directory of Open Access Journals (Sweden)

A.Mumi

2017-12-01

Full Text Available The process of economic development of every country is closely connected with the functioning of effective infrastructure of financial market, in the carter of which is a bank system. The success of market relations, the provision of intensive economic growth, the increasing country’s competitiveness at the world market and the growth of population well-being are determined by the fact of how much effectively banks are able to act at different segments of bank services. The innovations in the bank field are closely connected with the innovations in the global and world financial sector. The issues about the influence of globalization on bank activities, the development of market of bank services, empirical researches are of great interest nowadays. Special attention is paid to the Ukrainian market of bank services. The analysis of the current state of the bank sector of the Ukrainian economy gives an opportunity to disclose some problems in the bank sphere as: political and financial instability in the country, the low quality of bank assets, the decrease of liquidity of bank assets, the low credit to the bank system among population, unstable legal framework in the state, the high level of vulnerability of the bank system to the country’s currency policy conducted by NBU.

Usage of Data Mining at Financial Decision Making

Directory of Open Access Journals (Sweden)

Levent BORAN

2014-06-01

Full Text Available The knowledge age requires controlling every kind of information. Recognition of patterns in data may provide previously unknown and useful information that can provide competitive advantages. If related techniques are applied on financial statements, it is possible to acquire valuable information about companies’ financial situations. It is considered that data mining could be an alternative of common financial analysis techniques such as vertical analysis, horizontal analysis, trend analysis and ratio analysis. Against existing financial analysis methods, data mining provides some advantages, which are ability of manipulation of huge data and competence of obtaining previously unknown information. There exist two major constraints of data mining implementation that are lack of experts on both data mining and related domains and cost of computer software and hardware used.

77 FR 16894 - Financial Research Advisory Committee

Science.gov (United States)

2012-03-22

... reported and collected; --Performing applied research and essential long-term research; --Developing tools... economics, financial institutions and markets, statistical analysis, financial markets analysis... is essential to the effective operation of the Committee. Application for Advisory Committee...

The rise of non-financial performance measures in annual reports. An analysis of ATX-listed companies

Directory of Open Access Journals (Sweden)

Juergen Muehlbacher

2016-05-01

Full Text Available Purpose of the article: In the past, annual reports only included financial measures. More recently, this shareholder value approach has been criticized of leading to a strategic short-term orientation. Consequently, the use of strategic performance measurement systems (SPMSs, namely the Balanced Scorecard (BSC, is proposed to communicate non-financial measures to investors and stakeholders. Besides the distribution of critical information, the disclosure of non-financial measures should strengthen the employees’ commitment to the long-term strategy. The purpose of the article is thus to reveal whether Austrian companies disclose their strategic performance measures in their annual reports. Methodology/methods: Two observation points, 2002 and 2012, were chosen to analyse the annual reports of companies listed on the ATX. This period of time allows to observe changes as well as new trends. The annual reports have been downloaded from the companies’ homepages or received via email or post. A document and content analysis, followed by a frequency analysis, has been applied to identify several non-financial measures with regard to the following BSC-derived perspectives: Customer perspective, internal business perspective and innovation and learning perspective. Scientific aim: The scientific aim of the following study is to examine the extent to which non-financial performance measures are displayed in annual reports. Findings: The analysis of the annual reports showed a tremendous increase in non-financial measures in the time period between 2002 and 2012, which solely arose from the augmented disclosure activities of the innovation and learning perspective. On the other hand, the customer and internal perspectives decreased in importance. Moreover, the top ten measures in 2002 have changed and are dominated by diversity and environmental issues in the year 2012. Conclusions: Similar findings in the literature as well as the influence of legal

Analysis of Financial Management in Micro and Small Enterprises Osasco

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Michele Caroline Lima Formenti

2015-06-01

Full Text Available This study aims to identify the profile of the Financial Management in the Small Business in Osasco city. For development of this research was first done a bibliographic survey of issues related to the topic, such as: Definition of Small Business, General Law, Tax Aspects, Accounting Model (ITG 1000, Financial Controls. The second stage consisted of field research in which a questionnaire was prepared for Small Business managers of the municipality to identify the Financial Management model used. The study revealed that over 80% of Small Business perform some type of financial control, either by means of computer systems or electronic spreadsheets and that the greatest difficulty in Financial Management of these companies are: high taxes, tough competition and lack skilled labor.

The effect of the late 2000s financial crisis on suicides in Spain: an interrupted time-series analysis.

Science.gov (United States)

Lopez Bernal, James A; Gasparrini, Antonio; Artundo, Carlos M; McKee, Martin

2013-10-01

The current financial crisis is having a major impact on European economies, especially that of Spain. Past evidence suggests that adverse macro-economic conditions exacerbate mental illness, but evidence from the current crisis is limited. This study analyses the association between the financial crisis and suicide rates in Spain. An interrupted time-series analysis of national suicides data between 2005 and 2010 was used to establish whether there has been any deviation in the underlying trend in suicide rates associated with the financial crisis. Segmented regression with a seasonally adjusted quasi-Poisson model was used for the analysis. Stratified analyses were performed to establish whether the effect of the crisis on suicides varied by region, sex and age group. The mean monthly suicide rate in Spain during the study period was 0.61 per 100 000 with an underlying trend of a 0.3% decrease per month. We found an 8.0% increase in the suicide rate above this underlying trend since the financial crisis (95% CI: 1.009-1.156; P = 0.03); this was robust to sensitivity analysis. A control analysis showed no change in deaths from accidental falls associated with the crisis. Stratified analyses suggested that the association between the crisis and suicide rates is greatest in the Mediterranean and Northern areas, in males and amongst those of working age. The financial crisis in Spain has been associated with a relative increase in suicides. Males and those of working age may be at particular risk of suicide associated with the crisis and may benefit from targeted interventions.

Financial Management: Analysis of DoD's First Biennial Financial Management Improvement Plan

National Research Council Canada - National Science Library

1999-01-01

...). The plan is to be submitted not later than September 30 of each even-numbered year and is to address all aspects of financial management within DOD, including the finance systems, accounting systems...

Financial analysis of potential retrospective premium assessments under the Price-Anderson system

International Nuclear Information System (INIS)

Wood, R.S.

1985-04-01

Ten representative nuclear utilities have been analyzed over the period 1981 to 1983 to evaluate the effects of three levels of retrospective premiums on various financial indicators. This analysis continues and expands on earlier analyses prepared as background for deliberations by the US Congress for possible extension or modification of the Price-Anderson Act

Analysis and Assessment of Financial Indicators of Banks in the Context of Ensuring Functioning of the Banking System

Directory of Open Access Journals (Sweden)

Samorodov Borys V.

2013-12-01

Full Text Available The article studies methods of analysis and assessment of financial indicators of activity of banks, which characterise their solvency, keeping which at a relevant level for each bank ensures functioning of the banking system in general. It offers a number of financial indicators, which should be assessed when determining the credit rating of competitor banks. It demonstrates an approach to identification of the degree of influence of indicators upon the solvency level. It reveals a necessity of comparing when conducting analysis of values of financial indicators of bank activity, which are rated, with relevant values by the group of banks and the whole banking system. In the result of application of the proposed methods it seems possible to assess positive and negative sides of activity of a specific bank compared to its competitors. Moreover, rather high values of analysed financial indicators, compared to other studied banks, could be used as weighty information when conducting PR campaigns carried out by the bank. The bank management should pay attention to low values of financial indicators, which are determined through comparison with competitor banks, and build up a relevant strategy of measures on improvement of the bank activity.

Collaborative Customer Management in Financial Services Alliances

OpenAIRE

Geib, Malte; Kolbe, Lutz; Brenner, Walter

2004-01-01

The integration of the financial services industry and many financial services companies' focus on core competencies have led to the emergence of financial services alliances. These alliances face a variety of challenges regarding an integrated approach to customer relationship management (CRM) by the partner companies.In this paper we describe the challenges derived from an analysis of five financial services companies that formed different financial services alliances. The main inhibitors o...

FINANCIAL STABILITY CROSS-REFERENCE BASED ON CALCULATION OF ABSOLUTE INDICATORS

Directory of Open Access Journals (Sweden)

Neli MUNTEAN

2017-04-01

Full Text Available The lack of applied methods in the national practice that would allow the realization of a complex analysis of financial stability in the corporate sector is one of the primary problems outlined in the process of organizing the fair and efficient management system of numerous factors that determine the financial performance in this sector. Under these circumstances, the need for a comprehensive analysis of financial stability in the corporate sector significantly increases, being an integrated part of the entity's financial situation analysis. The purpose and objectives of the article consist in the generalization of theoretical principles, financial stability analysis instruments and techniques in terms of absolute indicators adaptation to the norms and requirements of International Financial Reporting Standards, and in the comparative analysis of several methods that can be used to measure financial stability in the corporate sector. Thus, the following study, developed as a fusion of existing knowledge and authors own research, aims to provide a basis for reflection and discussion with theorists, practitioners and analysts within the financial field.

THE HERD BEHAVIOR AND THE FINANCIAL INSTABILITY

Directory of Open Access Journals (Sweden)

CRISTIAN IONESCU

2012-01-01

Full Text Available Given the international financial situation of the last 50 years, and considering the complexity and severity of the financial crises, it is important to study the episodes of financial instability, and especially to understand both operating mechanisms and propagation mechanisms. One endogenous mechanism of financial instability is the herd behavior, which may increase the volatility and the amplitude of any sub-part of the financial system. This paper aims to analyze this phenomenon, considering the behavior of the financial market participants, the role of information in the making decisions process, banking responsibility regarding the herd behavior. The paper also illustrates two examples of herd behavior (run bank and the "too many to fail" problem, and presents three herding measures, in an attempt to achieve a quantitative analysis of the phenomenon, besides the qualitative analysis exposed above.

Selection and reliability of financial ratios in an attempt to analyse financial statements. An empirical research of the listed companies at Greek stock exchange in Construction Sector. Dimitrios Tsiolis MA Finance

OpenAIRE

Tsiolis, Dimitrios

2008-01-01

Financial ratio analysis is a widely known financial statements analysis tool and is used to evaluate companies` financial position. Careful selection process in collaboration with other financial statement analysis techniques as well as taking into consideration the financial ratio analysis problems can lead the companies' analysts to a clear determination of their company's financial position.

Financial analysis and forecasting of the results of small businesses performance based on regression model

Directory of Open Access Journals (Sweden)

Svetlana O. Musienko

2017-03-01

Full Text Available Objective to develop the economicmathematical model of the dependence of revenue on other balance sheet items taking into account the sectoral affiliation of the companies. Methods using comparative analysis the article studies the existing approaches to the construction of the company management models. Applying the regression analysis and the least squares method which is widely used for financial management of enterprises in Russia and abroad the author builds a model of the dependence of revenue on other balance sheet items taking into account the sectoral affiliation of the companies which can be used in the financial analysis and prediction of small enterprisesrsquo performance. Results the article states the need to identify factors affecting the financial management efficiency. The author analyzed scientific research and revealed the lack of comprehensive studies on the methodology for assessing the small enterprisesrsquo management while the methods used for large companies are not always suitable for the task. The systematized approaches of various authors to the formation of regression models describe the influence of certain factors on the company activity. It is revealed that the resulting indicators in the studies were revenue profit or the company relative profitability. The main drawback of most models is the mathematical not economic approach to the definition of the dependent and independent variables. Basing on the analysis it was determined that the most correct is the model of dependence between revenues and total assets of the company using the decimal logarithm. The model was built using data on the activities of the 507 small businesses operating in three spheres of economic activity. Using the presented model it was proved that there is direct dependence between the sales proceeds and the main items of the asset balance as well as differences in the degree of this effect depending on the economic activity of small

Monetary targeting and financial system characteristics : An empirical analysis

NARCIS (Netherlands)

Samarina, A..

2012-01-01

This paper investigates how reforms and characteristics of the financial system affect the likelihood of countries to abandon their strategy of monetary targeting. Apart from financial system characteristics, we include macroeconomic, fiscal, and institutional factors potentially associated with

The global financial crisis and health equity: early experiences from Canada.

Science.gov (United States)

Ruckert, Arne; Labonté, Ronald

2014-01-06

It is widely acknowledged that austerity measures in the wake of the global financial crisis are starting to undermine population health results. Yet, few research studies have focused on the ways in which the financial crisis and the ensuing 'Great Recession' have affected health equity, especially through their impact on social determinants of health; neither has much attention been given to the health consequences of the fiscal austerity regime that quickly followed a brief period of counter-cyclical government spending for bank bailouts and economic stimulus. Canada has not remained insulated from these developments, despite its relative success in maneuvering the global financial crisis. The study draws on three sources of evidence: A series of semi-structured interviews in Ottawa and Toronto, with key informants selected on the basis of their expertise (n = 12); an analysis of recent (2012) Canadian and Ontario budgetary impacts on social determinants of health; and documentation of trend data on key social health determinants pre- and post the financial crisis. The findings suggest that health equity is primarily impacted through two main pathways related to the global financial crisis: austerity budgets and associated program cutbacks in areas crucial to addressing the inequitable distribution of social determinants of health, including social assistance, housing, and education; and the qualitative transformation of labor markets, with precarious forms of employment expanding rapidly in the aftermath of the global financial crisis. Preliminary evidence suggests that these tendencies will lead to a further deepening of existing health inequities, unless counter-acted through a change in policy direction. This article documents some of the effects of financial crisis and severe economic decline on health equity in Canada. However, more research is necessary to study policy choices that could mitigate this effect. Since the policy response to a similar set of

Fairness of Financial Contribution in Iranian Health System: Trend Analysis of National Household Income and Expenditure, 2003-2010.

Science.gov (United States)

Fazaeli, Amir Abbas; Seyedin, Hesam; Vosoogh Moghaddam, Abbas; Delavari, Alireza; Salimzadeh, H; Varmazyar, Hasan; Fazaeli, Ali Akbar

2015-03-18

Social systems are dealing with the challenge of achieving fairness in the distribution of financial burden and protecting the risk of financial loss. The purpose of this paper is to present a trend analysis for the indicators related to fairness in healthcare's financial burden in rural and urban population of Iran during the eight years period of 2003 to 2010. We used the information gathered by statistical center of Iran through sampling processes for the household income and expenditures. The indicators of fairness in financial contribution of healthcare were calculated based on the WHO recommended methodology. The indices trend analysis of eight-year period for the rural, urban areas and the country level were computed. This study shows that in Iran the fairness of financial contribution index during the eight-year period has been decreased from 0.841 in 2003 to above 0.827 in 2010 and The percentage of people with catastrophic health expenditures has been increased from 2.3% to above 3.1%. The ratio of total treatment costs to the household overall capacity to pay has been increased from 0.055 to 0.068 and from 0.072 to 0.0818 in urban and rural areas respectively. There is a decline in fairness of financial contribution index during the study period. While, a trend stability of the proportion of households who suffered catastrophic health expenditures was found.

The analysis of the influence of the intellectual capital on the results of the commercial activity of financial institutions

Science.gov (United States)

Shkolik, Oleg; Chirkova, Larisa; Chirkova, Polina

2016-08-01

Developing (underdeveloped) countries are territories of slow economic growth (catch-up growth). Perspectives of their economic growth largely depend on developing and introducing financial and technological innovations in the sphere of the financial markets. The level and quality of those innovations should enable provision of faster growth of the financial sector of the national economy by rising stability and effectiveness of the financial institutions. Powerful and stable financial sector is the basic element for attracting investments and upsurge of liquidity in the economic system of a developing country that aims to have developed economy. Intellectual capital is the most important of the fundamental factors of production in the financial sphere. It is a catalytic element of the process of the economic development. From this position, the researchers' collective develops and presents a mathematical model which characterizes the connection between the intellectual capital and financial results of the commercial activity of financial institutions. The model is applied in the analysis of the activity of financial institutions that are part of the EEU.

Analysis of Spin Financial Market by GARCH Model

International Nuclear Information System (INIS)

Takaishi, Tetsuya

2013-01-01

A spin model is used for simulations of financial markets. To determine return volatility in the spin financial market we use the GARCH model often used for volatility estimation in empirical finance. We apply the Bayesian inference performed by the Markov Chain Monte Carlo method to the parameter estimation of the GARCH model. It is found that volatility determined by the GARCH model exhibits ''volatility clustering'' also observed in the real financial markets. Using volatility determined by the GARCH model we examine the mixture-of-distribution hypothesis (MDH) suggested for the asset return dynamics. We find that the returns standardized by volatility are approximately standard normal random variables. Moreover we find that the absolute standardized returns show no significant autocorrelation. These findings are consistent with the view of the MDH for the return dynamics

Rates of credit obligations compliance on IFRS financial statement as a factor of financial stability

Directory of Open Access Journals (Sweden)

O. V. Uvarova

2016-01-01

Full Text Available For the purposes of effective management of economic activity of the entities of insufficiently own accounting information. For objective assessment of a financial and economic provision of the entity it is necessary to pass from separate accounting data to certain valuable ratios of major factors – to financial performance or financial ratios. Calculation and interpretation of their values the integral and essentially necessary part of a financial analysis, especially it is important if the company has credit liabilities. Conditions of credit agreements often include accomplishment of credit covenants which represent restrictions for activities and a financial position of the company in addition to timely settlement of percent and a body of the credit and provide to lessors a certain level of safety from bankruptcy of the debtor. The article considers the covenants and financial covenants definitions; the main financial covenants containing in credit agreements between large banks and borrowers; data on structure of a credit portfolio and financial debt of NLMK as at June 30, 2016; the main financial covenants containing in credit agreements of the companies of NLMK Group; definitions and formulas of calculation of financial rates based on the IFRS financial statement; calculation of covenants on the example of IFRS consolidated financial statements of NLMK; subtleties of calculation of financial rates; the main differences of financial rates calculation based on the financial statements prepared on the different principles; conclusion about stability and a financial condition of NLMK by the results received during calculation financial covenants as at end of the first half of the year 2016.

Active cooling for downhole instrumentation: Preliminary analysis and system selection

Energy Technology Data Exchange (ETDEWEB)

Bennett, G.A.

1988-03-01

A feasibility study and a series of preliminary designs and analyses were done to identify candidate processes or cycles for use in active cooling systems for downhole electronic instruments. A matrix of energy types and their possible combinations was developed and the energy conversion process for each pari was identified. The feasibility study revealed conventional as well as unconventional processes and possible refrigerants and identified parameters needing further clarifications. A conceptual design or series od oesigns for each system was formulated and a preliminary analysis of each design was completed. The resulting coefficient of performance for each system was compared with the Carnot COP and all systems were ranked by decreasing COP. The system showing the best combination of COP, exchangeability to other operating conditions, failure mode, and system serviceability is chosen for use as a downhole refrigerator. 85 refs., 48 figs., 33 tabs.

The preliminary planning for decommissioning nuclear facilities in Taiwan

International Nuclear Information System (INIS)

Li, K.K.

1993-01-01

During the congressional hearing in 1992 for a $7 billion project for approval of the fourth nuclear power plant, the public was concerned about the decommissioning of the operating plants. In order to facilitate the public acceptance of nuclear energy and to secure the local capability for appropriate nuclear backend management, both technologically and financially, it is important to have preliminary planning for decommissioning the nuclear facilities. This paper attempted to investigate the possible scope of decommissioning activities and addressed the important regulatory, financial, and technological aspects. More research and development works regarding the issue of decommissioning are needed to carry out the government's will of decent management of nuclear energy from the cradle to the grave

Financial Literacy, Financial Education, and Economic Outcomes

Science.gov (United States)

Hastings, Justine S.; Madrian, Brigitte C.; Skimmyhorn, William L.

2013-01-01

In this article, we review the literature on financial literacy, financial education, and consumer financial outcomes. We consider how financial literacy is measured in the current literature and examine how well the existing literature addresses whether financial education improves financial literacy or personal financial outcomes. We discuss the…

Thermal Hydraulic Analysis of K-DEMO Single Blanket Module for Preliminary Accident Analysis using MELCOR

Energy Technology Data Exchange (ETDEWEB)

Moon, Sung Bo; Bang, In Cheol [UNIST, Ulsan (Korea, Republic of)

2016-05-15

To develop the Korean fusion commercial reactor, preliminary design concept for K-DEMO (Korean fusion demonstration reactor) has been announced by NFRI (National Fusion Research Institute). This pre-conceptual study of K-DEMO has been introduced to identify technical details of a fusion power plant for the future commercialization of fusion reactor in Korea. Before this consideration, to build the K-DEMO, accident analysis is essential. Since the Fukushima accident, which is severe accident from unexpected disaster, safety analysis of nuclear power plant has become important. The safety analysis of both fission and fusion reactors is deemed crucial in demonstrating the low radiological effect of these reactors on the environment, during severe accidents. A risk analysis of K-DEMO should be performed, as a prerequisite for the construction of a fusion reactor. In this research, thermal-hydraulic analysis of single blanket module of K-DEMO is conducted for preliminary accident analysis for K-DEMO. Further study about effect of flow distributer is conducted. The normal K-DEMO operation condition is applied to the boundary condition and simulated to verify the material temperature limit using MELCOR. MELCOR is fully integrated, relatively fast-running code developed by Sandia National Laboratories. MELCOR had been used for Light Water Reactors and fusion reactor version of MELCOR was developed for ITER accident analysis. This study shows the result of thermal-hydraulic simulation of single blanket module with MELCOR which is severe accident code for nuclear fusion safety analysis. The difference of mass flow rate for each coolant channel with or without flow distributer is presented. With flow distributer, advantage of broadening temperature gradient in the K-DEMO blanket module and increase mass flow toward first wall is obtained. This can enhance the safety of K-DEMO blanket module. Most 13 .deg. C temperature difference in blanket module is obtained.

Financial development and economic growth in Ghana: Does the measure of financial development matter?

Directory of Open Access Journals (Sweden)

George Adu

2013-07-01

Full Text Available The aim of this paper is to investigate the long-run growth effects of financial development in Ghana. We find that the growth effect of financial development is sensitive to the choice of proxy. Both the credit to the private sector as ratios to GDP and total domestic credit are conducive for growth, while broad money stock to GDP ratio is not growth-inducing. The indexes created from principal component analysis confirmed the sensitivity of the effect to the choice of proxy. The findings here suggest that whether financial development is good or bad for growth depends on the indicator used to proxy for financial development.

Information systems development of analysis company financial state based on the expert-statistical approach

Directory of Open Access Journals (Sweden)

M. N. Ivliev

2016-01-01

Full Text Available The work is devoted to methods of analysis the company financial condition, including aggregated ratings. It is proposed to use the generalized solvency and liquidity indicator and the capital structure composite index. Mathematically, the generalized index is a sum of variables-characteristics and weighting factors characterizing the relative importance of individual characteristics composition. It is offered to select the significant features from a set of standard financial ratios, calculated according to enterprises balance sheets. To obtain the weighting factors values it is proposed to use one of the expert statistical approaches, the analytic hierarchy process. The method is as follows: we choose the most important characteristic and after the experts determine the degree of preference for the main feature based on the linguistic scale. Further, matrix of pairwise comparisons based on the assigned ranks is compiled, which characterizes the relative importance of attributes. The required coefficients are determined as elements of a vector of priorities, which is the first vector of the matrix of paired comparisons. The paper proposes a mechanism for finding the fields for rating numbers analysis. In addition, the paper proposes a method for the statistical evaluation of the balance sheets of various companies by calculating the mutual correlation matrices. Based on the considered mathematical methods to determine quantitative characteristics of technical objects financial and economic activities, was developed algorithms, information and software allowing to realize of different systems economic analysis.

PREDICTIVE ANALYSIS SOFTWARE FOR MODELING THE ALTMAN Z-SCORE FINANCIAL DISTRESS STATUS OF COMPANIES

Directory of Open Access Journals (Sweden)

ILIE RĂSCOLEAN

2012-10-01

Full Text Available Literature shows some bankruptcy methods for determining the financial distress status of companies and based on this information we chosen Altman statistical model because it has been used a lot in the past and like that it has become a benchmark for other methods. Based on this financial analysis flowchart, programming software was developed that allows the calculation and determination of the bankruptcy probability for a certain rate of failure Z-score, corresponding to a given interval that is equal to the ratio of the number of bankrupt companies and the total number of companies (bankrupt and healthy interval.

Prevalence of Financial Fraud and Scams Among Older Adults in the United States: A Systematic Review and Meta-Analysis.

Science.gov (United States)

Burnes, David; Henderson, Charles R; Sheppard, Christine; Zhao, Rebecca; Pillemer, Karl; Lachs, Mark S

2017-08-01

The financial exploitation of older adults was recently recognized by the Centers for Disease Control and Prevention as a serious public health problem. Knowledge of the prevalence of elder financial exploitation is mostly limited to the category of financial abuse, which occurs in relationships involving an expectation of trust. Little is known about the other major category of elder financial exploitation-elder financial fraud and scams, which is perpetrated by strangers. A valid estimate of elder financial fraud-scam prevalence is necessary as a foundation for research and prevention efforts. To estimate the prevalence of elder financial fraud-scam victimization in the United States based on a systematic review and meta-analysis. Multiple investigators independently screened titles and abstracts and reviewed relevant full-text records from PubMed, Medline, PsycINFO, Criminal Justice Abstracts, Social Work Abstracts, and AgeLine databases. To maximize the validity and generalizability of prevalence estimation, we restricted eligibility to general population-based studies (English speaking, 1990 onward) using state- or national-level probability sampling and collecting data directly from older adults. Information on elder financial fraud-scam prevalence and study-level characteristics was extracted independently by 2 investigators. Meta-analysis of elder financial fraud-scam prevalence used generalized mixed models with individual studies as levels of a random classification factor. We included 12 studies involving a total of 41 711 individuals in the meta-analysis. Overall pooled elder financial fraud-scam prevalence (up to 5-year period) across studies was 5.6% (95% confidence interval [CI] = 4.0%, 7.8%), with a 1-year period prevalence of 5.4% (95% CI = 3.2%, 7.6%). Studies using a series of questions describing specific fraud-scam events to measure victimization found a significantly higher prevalence (7.1%; 95% CI = 4.8%, 9.4%) than studies

on International Financial Reporting Standards

Directory of Open Access Journals (Sweden)

Edyta Łazarowicz

2016-07-01

Full Text Available The article analyses and assesses proposals for changes concerning the objective of financial reportingbased on International Financial Reporting Standards (IFRS, presented in comments on the exposuredraft of the Conceptual Framework for Financial Reporting (2015. The majority of respondents thinkthat the objective of financial reporting should give more prominence to the importance of providinginformation about management’s stewardship. Moreover, some respondents suggest introducing thedefinition of stewardship into the Conceptual Framework and presenting implications of shifts in theobjective of financial reporting for the future standard setting and for preparing financial statements.Based on the analysis of comment letters and the review of accounting literature, the conclusion is thatthe objective of financial reporting should be changed. It is, however, disputable, if stewardship should bea separate object. There is too little research on the relation between the stewardship and decisionusefulnessobjectives. The findings of this research could show accounting standard-setters the potentialtrade-offs and conflicts between these objectives.

Statistical inference for financial engineering

CERN Document Server

Taniguchi, Masanobu; Ogata, Hiroaki; Taniai, Hiroyuki

2014-01-01

This monograph provides the fundamentals of statistical inference for financial engineering and covers some selected methods suitable for analyzing financial time series data. In order to describe the actual financial data, various stochastic processes, e.g. non-Gaussian linear processes, non-linear processes, long-memory processes, locally stationary processes etc. are introduced and their optimal estimation is considered as well. This book also includes several statistical approaches, e.g., discriminant analysis, the empirical likelihood method, control variate method, quantile regression, realized volatility etc., which have been recently developed and are considered to be powerful tools for analyzing the financial data, establishing a new bridge between time series and financial engineering. This book is well suited as a professional reference book on finance, statistics and statistical financial engineering. Readers are expected to have an undergraduate-level knowledge of statistics.

Nonlinear Analysis on Cross-Correlation of Financial Time Series by Continuum Percolation System

Science.gov (United States)

Niu, Hongli; Wang, Jun

We establish a financial price process by continuum percolation system, in which we attribute price fluctuations to the investors’ attitudes towards the financial market, and consider the clusters in continuum percolation as the investors share the same investment opinion. We investigate the cross-correlations in two return time series, and analyze the multifractal behaviors in this relationship. Further, we study the corresponding behaviors for the real stock indexes of SSE and HSI as well as the liquid stocks pair of SPD and PAB by comparison. To quantify the multifractality in cross-correlation relationship, we employ multifractal detrended cross-correlation analysis method to perform an empirical research for the simulation data and the real markets data.

Empirical Analysis of the Financial Behavior of Investors with Brand Approach (Case Study: Tehran Stock Exchange

Directory of Open Access Journals (Sweden)

Asgarnezhad Nouri Bagher

2017-03-01

Full Text Available Behavioral science in the field of finance and investment is among new topics raised in recent years. The relationship between financial sciences and other fields of social sciences such as financial psychology has caused researchers to do many researches regarding the behavior of investors in the financial markets and their reactions to different situations. Based on the theories of financial behavior, shareholders' decision to buy and sell stocks is under the influence of internal and external psychological factors. Through designing and experimental testing of the model of investors' financial behavior in the Tehran Stock Exchange with an emphasis on brand, this study was an attempt to investigate the influence of these factors. To this end, financial, psychological and social factors were considered as the most important external factors influencing the behavior of investors and, considering the mediating role of brand awareness, their impact on perceived risk and perceived return as well as investment intention was tested. The research population consisted of all individual investors in the Tehran Stock Exchange. In order to determine the sample size, considering unlimited population, Cochran formula was used and hence the sample size was determined to be 145. For data collection, standard questionnaire was used. Confirmatory factor analysis was used to test the reliability of the questionnaire and the research hypotheses were tested using path analysis. The results showed that psychological factors have a positive impact on perceived risk and returns. Financial factors had a positive impact on perceived risk but no impact on perceived return. The impact of social factors on perceived risk and perceived return was not confirmed. Moreover, the results showed that brand awareness has a moderating role in the relationship between social factors and perceived risk and return. However, its moderating role was not confirmed in the relationship

Financial analysis of wind power projects; Analisis financiero de proyectos eolicos de generacion electrica

Energy Technology Data Exchange (ETDEWEB)

Juanico, Luis E; Bergallo, Juan E [Comision Nacional de Energia Atomica, San Carlos de Bariloche (Argentina). Centro Atomico Bariloche

1999-07-01

In this work a financial assessment of the economic competitiveness of wind power projects in Argentina compared with other no CO{sub 2} emission sources, such as nuclear, was developed. Argentina has a market driven electrical grid system, and no greenhouse gas emissions penalty taxes, together with a very low natural gas cost and a sustained nuclear development program. For the financial analysis an average wind velocity source of 8 m/s, on several wind farms (from 2 machines to 60) built with new technology wind generators (750 kilowatts power, 900 dollar/kilowatt cost) operating over 20 years, was considered. The leveled cost obtained is decreasing while the number of machines is increasing, from 0,130 dollar/kilowatt-hour to 0,090 dollar/kilowatts-hour. This poor performance can be partially explained considering the higher interest rates in the argentine financial market (15%) than the ones in developed countries.

The impact on chinese economic growth and energy consumption of the Global Financial Crisis: An input-output analysis

International Nuclear Information System (INIS)

Yuan, Chaoqing; Liu, Sifeng; Xie, Naiming

2010-01-01

The dependence on foreign trade increased sharply in China, and therefore Chinese economy is obviously export-oriented. The Global Financial Crisis will impact the Chinese economic growth violently. Chinese government has recently adopted some effective measures to fight against the Global Financial Crisis. The most important measure is the 4 trillion Yuan ($586 billion) stimulus plan which was announced on November 9, 2008. This paper discusses the influence on energy consumption and economic growth of Global Financial Crisis and the stimulus plan against it by input-output analysis. The results show that the fall of exports caused by the Global Financial Crisis will lead to a decrease of 7.33% in GDP (Gross Domestic Production) and a reduction of 9.21% in energy consumption; the stimulus plan against the Global Financial Crisis will lead to an increase of 4.43% in economic growth and an increase of 1.83% in energy consumption; In the Global Financial Crisis, energy consumption per unit GDP will fall in China. (author)

Financial Aid to Students in Europe: A Summary Analysis.

Science.gov (United States)

Vorbeck, Michael

1983-01-01

An outline of policies and trends in 21 European countries concerning student financial aid as a form of support for higher education includes a tuition survey, policy purposes and considerations, forms of direct and indirect aid, tax benefits, financial aid systems, and study abroad. (MSE)

Uncertainty, financial development and economic growth : an empirical analysis

NARCIS (Netherlands)

Lensink, Robert

1999-01-01

This paper examines whether financial sector development may partly undo growth-reducing effects of policy uncertainty. By performing a cross-country growth regression for the 1970-1995 period I find evidence that countries with a more developed financial sector are better able to nullify the

Reconciling Global Financial Reporting With Domestic Taxation

OpenAIRE

Bokulic, Caitlin; Henry, Erin; Plesko, George A.

2012-01-01

This paper presents a new reconciliation of financial to taxable income, drawing from public financial statement and Schedule M-3 data for a panel of firms. The reconciliation compares the financial statement income of a firm’s consolidated financial statement entities to the financial statement income of a firm’s tax return entities on a worldwide, domestic, and foreign income basis. This analysis highlights the relation between these various measures of corporate income to better understand...

Financial Crisis, openness of the economy and the financial performance of Jordanian listed banks: analytical study

Directory of Open Access Journals (Sweden)

Ali Mustafa Abdullah Al Qudah, Dr.

2014-06-01

Full Text Available This study examined the impact of the world financial crisis and openness of the economy on the financial performance of Jordanian listed banks through the period 2005-2008. Panel data analysis is employed to examine study hypotheses. The results showed that the world financial crisis has a negative and significant impact on the financial performance measured by return on assets, return on equity, earning per share, market share prices, and market value while it has a positive but not significant impact on dividend yields. The study also found that openness of the economy has a positive and significant impact on the financial performance of Jordanian listed banks.

Estimates of the financial consequences of nuclear-power-reactor accidents

International Nuclear Information System (INIS)

Strip, D.R.

1982-09-01

This report develops preliminary techniques for estimating the financial consequences of potential nuclear power reactor accidents. Offsite cost estimates are based on CRAC2 calculations. Costs are assigned to health effects as well as property damage. Onsite costs are estimated for worker health effects, replacement power, and cleanup costs. Several classes of costs are not included, such as indirect costs, socio-economic costs, and health care costs. Present value discounting is explained and then used to calculate the life cycle cost of the risks of potential reactor accidents. Results of the financial consequence estimates for 156 reactor-site combinations are summarized, and detailed estimates are provided in an appendix. The results indicate that, in general, onsite costs dominate the consequences of potential accidents

Aspects of Accounting and Financial Analysis Service Outsourcing: a Romanian Approach

Directory of Open Access Journals (Sweden)

Vasile-Daniel W. Păvăloaia

2011-06-01

Full Text Available In January 2010, Forbes magazine published an article with an attractive title: Romania –became an accounting outsourcing destination. The article states that our country has fully enteredthe market of accounting service outsourcing. Also, the results of a study ordered byPricewaterhouseCoopers in 2010 confirm that outsourcing has encountered a revival in the last sixmonths and the trend is ascending. The director of PricewaterhouseCoopers says that companies stillresort to service outsourcing primarily to reduce costs but at the same level, customers began to alsoappreciate other aspects such as high efficiency, high quality services and, of course, access to highleveltalent and expertise. In the above mentioned context, in author’s opinion, the theme of thecurrent research seems appropriate as it proposes and emphasize of the fundamental aspects ofoutsourcing in general and specific issues related to outsourcing the services of accounting andfinancial analysis. This study illustrates novel aspects related to the requirements for outsourcingaccounting services in our country and captures the authors' opinion on the possibilities ofoutsourcing the financial and economic analysis services, since these belong to a quite sensitivecategory. If this information comes across foreign hands, the financial and accounting informationcan be used for destructive purposes.

Ten financial management principles for survival.

Science.gov (United States)

Cleverley, W O

1988-03-01

Financial insolvency is the primary cause of hospital failure. Managers may analyze a hospital's financial statements to anticipate and prevent fiscal problems. Ten measures of fiscal status may be used to evaluate the following: operating profitability nonoperating income equity growth liquidity debt capacity age of facilities revenue generation replacement funds receivables survivability Based on data from the Financial Analysis Service, Catholic hospitals are doing better than other U.S. hospitals in some areas of financial preparedness. In most areas, however, all hospitals suffer by comparison with manufacturers. The 10 principles of solvent and successful operations can help hospitals improve financial resiliency.

Russia’s Money Markets and Financial Institutions in 2014

OpenAIRE

Alexander Abramov

2015-01-01

This paper deals with a wide scope of issues, starting with the post-crisis recovery of Russia's financial market. The author analyzes the market for shares issued by Russian companies, investigates dependence on the global conjuncture of prices and inflow and outflow of foreign portfolio investment. He also studies currency exchange rate, looks at the competition on the domestic share market, and analyzes preliminary results of the merger of the RTS and MICEX. The article deals with the mark...

Veblen, Bataille and Financial Innovation

DEFF Research Database (Denmark)

Gammon, Earl; Wigan, Duncan

2015-01-01

This article advances towards the reconceptualization of financial innovation. It examines the calamitous role of financial innovation in the global financial crisis, developing a non-rational theorization of finance within the social economy that factors in the role of affect. Outlining...... the foundations for such an approach, the analysis draws on Thorstein Veblen and Georges Bataille, whose work encompasses psycho-social conceptions of political-economic agency. From the more anthropological lens of Veblen and Bataille's theorizations, it is possible to move beyond instrumentalist accounts...... of financial innovation premised on pecuniary expedients and aspirations of market completion. As we argue, in a broader affective economy, contemporary financial innovation serves invidious ends, providing a means of attaining social distinction, constituting a medium for violent expenditure and bestowing...

Corporate Health and Wellness and the Financial Bottom Line: Evidence From South Africa.

Science.gov (United States)

Conradie, Christina Susanna; van der Merwe Smit, Eon; Malan, Daniel Pieter

2016-02-01

The research objective was to test the hypothesis that corporate health and wellness contributed positively to South African companies' financial results. The past share market performance of eligible healthy companies, based on Discovery's Healthy Company Index, was tracked under three investment scenarios and compared with the market performance on the basis of the JSE FTSE All Share Index. The evidence supports the hypothesis that a culture of health and wellness provides a financial advantage, in so far as the portfolio of healthy companies consistently outperformed the market over the selected simulations. Given the limitations of the investigation, namely small sample size, the brevity of the period of investigation, and the reliance on accessibility sampling, the research provides the first and preliminary evidence supportive of the direct financial benefits of companies' wellness programs.

IFRS 16 “Leases” – consequences on the financial statements and financial indicators

Directory of Open Access Journals (Sweden)

Marian SACARIN

2017-02-01

Full Text Available In January 2016, the International Accounting Standards Board (IASB issued IFRS 16 “Leases”, which will replace the current standard IAS 17 “Leases”. IFRS 16, whose application is mandatory for annual periods beginning on or after January 2019, sets out new rules for the recognition and measurement of leases, leading to a change of value for the elements recognized in the financial statements, as well as for the financial indicators calculated based on these. The purpose of this article is to present, based on a comparative analysis of IFRS 16 and IAS 17, the main consequences that the application of IFRS 16 will arise, in respect of the financial statements and the financial indicators determined based on the information provided by these.

ANALYSIS OF THE INVESTMENT ARBITRAGE STRATEGY USING FINANCIAL MULTIPLIERS

Directory of Open Access Journals (Sweden)

Dmitry S. Pashkov

2013-01-01

Full Text Available This article describes an algorithm for stock pairs trading using financial multipliers of underlying companies. This algorithm has been tested on historical data and compared with classical Bollinger bands strategy. The results of tests were presented for two financial sectors of US stock market.

Analysis of Possibilities of Detectnig the Manipulation of Financial Statements in Terms of the IFRS and Czech Accounting Standards

Directory of Open Access Journals (Sweden)

Zita Drábková

2015-01-01

Full Text Available The main objective of financial statements is to give information. The diversity of interests and objectives of individual groups of users and creators of financial statements presents the risk of manipulation of financial statements in the context of true and fair view as defined in the national accounting legislation. The paper is concerned with the different possibilities of detecting the manipulation of financial statements in terms of the Czech Accounting Standards and IFRS. The paper analyzes the selected risk detection models of the manipulation of financial statements using creative accounting methods, off-balance sheet financing methods and accounting frauds in specific case studies of selected accounting unit in terms of Czech accounting standards. Based on the analysis and comparison of the results thereof, the paper presents and evaluates the alternatives of users of financial statements to evaluate the risk of manipulation of financial statements beyond the scope of a fair and true view. The evaluation further includes a comparison of uses of these models with respect to the International Financial Reporting Standards.

Financial analysis of community-based forest enterprises with the Green Value tool

Science.gov (United States)

S. Humphries; Tom Holmes

2016-01-01

The Green Value tool was developed in response to the need for simplified procedures that could be used in the field to conduct financial analysis for community-based forest enterprises (CFEs). Initially our efforts focused on a set of worksheets that could be used by both researchers and CFEs to monitor and analyze costs and income for one production period. The...

Dominating clasp of the financial sector revealed by partial correlation analysis of the stock market.

Science.gov (United States)

Kenett, Dror Y; Tumminello, Michele; Madi, Asaf; Gur-Gershgoren, Gitit; Mantegna, Rosario N; Ben-Jacob, Eshel

2010-12-20

What are the dominant stocks which drive the correlations present among stocks traded in a stock market? Can a correlation analysis provide an answer to this question? In the past, correlation based networks have been proposed as a tool to uncover the underlying backbone of the market. Correlation based networks represent the stocks and their relationships, which are then investigated using different network theory methodologies. Here we introduce a new concept to tackle the above question--the partial correlation network. Partial correlation is a measure of how the correlation between two variables, e.g., stock returns, is affected by a third variable. By using it we define a proxy of stock influence, which is then used to construct partial correlation networks. The empirical part of this study is performed on a specific financial system, namely the set of 300 highly capitalized stocks traded at the New York Stock Exchange, in the time period 2001-2003. By constructing the partial correlation network, unlike the case of standard correlation based networks, we find that stocks belonging to the financial sector and, in particular, to the investment services sub-sector, are the most influential stocks affecting the correlation profile of the system. Using a moving window analysis, we find that the strong influence of the financial stocks is conserved across time for the investigated trading period. Our findings shed a new light on the underlying mechanisms and driving forces controlling the correlation profile observed in a financial market.

A statistical analysis of UK financial networks

Science.gov (United States)

Chu, J.; Nadarajah, S.

2017-04-01

In recent years, with a growing interest in big or large datasets, there has been a rise in the application of large graphs and networks to financial big data. Much of this research has focused on the construction and analysis of the network structure of stock markets, based on the relationships between stock prices. Motivated by Boginski et al. (2005), who studied the characteristics of a network structure of the US stock market, we construct network graphs of the UK stock market using same method. We fit four distributions to the degree density of the vertices from these graphs, the Pareto I, Fréchet, lognormal, and generalised Pareto distributions, and assess the goodness of fit. Our results show that the degree density of the complements of the market graphs, constructed using a negative threshold value close to zero, can be fitted well with the Fréchet and lognormal distributions.

Fairness of Financial Contribution in Iranian Health System: Trend Analysis of National Household Income and Expenditure, 2003-2010

Science.gov (United States)

Fazaeli, Amir Abbas; Seyedin, Hesam; Moghaddam, Abbas Vosoogh; Delavari, Alireza; Salimzadeh, H.; Varmazyar, Hasan; Fazaeli, Ali Akbar

2015-01-01

Background: Social systems are dealing with the challenge of achieving fairness in the distribution of financial burden and protecting the risk of financial loss. The purpose of this paper is to present a trend analysis for the indicators related to fairness in healthcare’s financial burden in rural and urban population of Iran during the eight years period of 2003 to 2010. Methods: We used the information gathered by statistical center of Iran through sampling processes for the household income and expenditures. The indicators of fairness in financial contribution of healthcare were calculated based on the WHO recommended methodology. The indices trend analysis of eight-year period for the rural, urban areas and the country level were computed. Results: This study shows that in Iran the fairness of financial contribution index during the eight-year period has been decreased from 0.841 in 2003 to above 0.827 in 2010 and The percentage of people with catastrophic health expenditures has been increased from 2.3% to above 3.1%. The ratio of total treatment costs to the household overall capacity to pay has been increased from 0.055 to 0.068 and from 0.072 to 0.0818 in urban and rural areas respectively. Conclusion: There is a decline in fairness of financial contribution index during the study period. While, a trend stability of the proportion of households who suffered catastrophic health expenditures was found. PMID:26156920

An Educational Program to Assist Clinicians in Identifying Elder Investment Fraud and Financial Exploitation

Science.gov (United States)

Mills, Whitney L.; Roush, Robert E.; Moye, Jennifer; Kunik, Mark E.; Wilson, Nancy L.; Taffet, George E.; Naik, Aanand D.

2012-01-01

Due to age-related factors and illnesses, older adults may become vulnerable to elder investment fraud and financial exploitation (EIFFE). The authors describe the development and preliminary evaluation of an educational program to raise awareness and assist clinicians in identifying older adults at risk. Participants (n = 127) gave high ratings…

Preliminary study of soil permeability properties using principal component analysis

Science.gov (United States)

Yulianti, M.; Sudriani, Y.; Rustini, H. A.

2018-02-01

Soil permeability measurement is undoubtedly important in carrying out soil-water research such as rainfall-runoff modelling, irrigation water distribution systems, etc. It is also known that acquiring reliable soil permeability data is rather laborious, time-consuming, and costly. Therefore, it is desirable to develop the prediction model. Several studies of empirical equations for predicting permeability have been undertaken by many researchers. These studies derived the models from areas which soil characteristics are different from Indonesian soil, which suggest a possibility that these permeability models are site-specific. The purpose of this study is to identify which soil parameters correspond strongly to soil permeability and propose a preliminary model for permeability prediction. Principal component analysis (PCA) was applied to 16 parameters analysed from 37 sites consist of 91 samples obtained from Batanghari Watershed. Findings indicated five variables that have strong correlation with soil permeability, and we recommend a preliminary permeability model, which is potential for further development.

Preliminary Mass Spectrometric Analysis of Uranium on Environmental Swipe Materials

International Nuclear Information System (INIS)

Cheong, Chang-Sik; Jeong, Youn-Joong; Ryu, Jong-Sik; Shin, Hyung-Seon; Cha, Hyun-Ju; Ahn, Gil-Hoon; Park, Il-Jin; Min, Gyung-Sik

2006-01-01

It is well-known that uranium and plutonium isotopic compositions of safeguards samples are very useful to investigate the history of nuclear activities. To strengthen the capabilities of environmental sampling analysis in the ROK through MOST/DOE collaboration, round robin test for uranium and plutonium was designed in 2003. As the first round robin test, a set of dried uranium-containing solutions (∼35ng and (∼300ng) was distributed to the participating laboratories in November of 2003, with results reported in April of 2004. The KBSI (Korea Basic Science Institute) and ORNL (Oak Ridge National Laboratory) are currently in the process of analyzing uranium on cotton swipes for the second round robin test. As a preliminary test for the second round, KBSI intends to analyze home-made swipe samples into which international uranium standards are added. Here we describe technical steps of sample preparation and mass spectrometry at KBSI, and report some results of the preliminary test

An analysis of the agreement between financial data between the Medicare Cost Report and the audited hospital financial statement.