High Pressure Electrolyzer System Evaluation
Prokopius, Kevin; Coloza, Anthony
2010-01-01
This report documents the continuing efforts to evaluate the operational state of a high pressure PEM based electrolyzer located at the NASA Glenn Research Center. This electrolyzer is a prototype system built by General Electric and refurbished by Hamilton Standard (now named Hamilton Sunstrand). It is capable of producing hydrogen and oxygen at an output pressure of 3000 psi. The electrolyzer has been in storage for a number of years. Evaluation and testing was performed to determine the state of the electrolyzer and provide an estimate of the cost for refurbishment. Pressure testing was performed using nitrogen gas through the oxygen ports to ascertain the status of the internal membranes and seals. It was determined that the integrity of the electrolyzer stack was good as there were no appreciable leaks in the membranes or seals within the stack. In addition to the integrity testing, an itemized list and part cost estimate was produced for the components of the electrolyzer system. An evaluation of the system s present state and an estimate of the cost to bring it back to operational status was also produced.
Electrolyzers Enhancing Flexibility in Electric Grids
Directory of Open Access Journals (Sweden)
Manish Mohanpurkar
2017-11-01
Full Text Available This paper presents a real-time simulation with a hardware-in-the-loop (HIL-based approach for verifying the performance of electrolyzer systems in providing grid support. Hydrogen refueling stations may use electrolyzer systems to generate hydrogen and are proposed to have the potential of becoming smarter loads that can proactively provide grid services. On the basis of experimental findings, electrolyzer systems with balance of plant are observed to have a high level of controllability and hence can add flexibility to the grid from the demand side. A generic front end controller (FEC is proposed, which enables an optimal operation of the load on the basis of market and grid conditions. This controller has been simulated and tested in a real-time environment with electrolyzer hardware for a performance assessment. It can optimize the operation of electrolyzer systems on the basis of the information collected by a communication module. Real-time simulation tests are performed to verify the performance of the FEC-driven electrolyzers to provide grid support that enables flexibility, greater economic revenue, and grid support for hydrogen producers under dynamic conditions. The FEC proposed in this paper is tested with electrolyzers, however, it is proposed as a generic control topology that is applicable to any load.
Capital effectiveness in a capital intensive project
Energy Technology Data Exchange (ETDEWEB)
Yarossi, M.E. (IPA Institute, The Hague (Netherlands))
2009-07-01
The technical difficulty of incorporating new technology in capital intensive projects has been underestimated. Bio-refineries projects are no exemption. These projects in many occasions have assigned inadequate project resources, such as lean project teams and overly optimistic contingencies. Furthermore, project developers have set unrealistic expectations; for example: aggressive schedule duration, low cost targets and optimistic operability targets. These project drivers set before project's authorization compromise the project's outcome. In many cases, this translates into lower return on investment, higher costs, and lower operability. In order to counteract these outcomes, it is critical for capital intensive projects, like bio-refineries, to have a well define project which will enable to increase its chance of success. IPA's research has shown that bio-refineries projects have poor project performance due to poor project practices, lack of owner project controls and inadequate change management. An adequate risk analysis during definition is a critical component of a project's success, especially when there is new technology, like biomass conversion. It is of outmost importance to asses this technology and set realistic expectations. parallel to this, there is a need to have a well established execution strategy, which should be maintained throughout the execution of the project. In conclusion, IPA's research has indicated that bio-refineries, as any other capital intensive project, need to assign adequate resources at an early state of project development, by making sure there is and adequate team in place, reasonable schedule, technical difficulties evaluation, and keeping control during execution. Although these elements might be seen as common practices that should be taken into account when developing a project, many projects being their execution without having a proper foundation, and thus affecting the project
Directory of Open Access Journals (Sweden)
Zubović Jovan
2004-01-01
Full Text Available This paper looks at the difficulties of managing modem capital projects and endeavors to reduce the complexities to simpler and more understandable terms. It examines the project environment, defines project management and discusses points of difference from traditional management. In the second part of the paper are presented fundamentals for project success for different types of projects.
Novel Electrolyzer Applications: Providing More Than Just Hydrogen
Energy Technology Data Exchange (ETDEWEB)
Eichman, J.; Harrison, K.; Peters, M.
2014-09-01
Hydrogen can be used for many different applications and can be integrated into many different system architectures. One of the methods for producing the hydrogen is to use an electrolyzer. This work explores the flexibility of electrolyzers to behave as responsive loads. Experimental tests were performed for a proton exchange membrane (PEM) and an alkaline electrolyzer to assess the operational flexibility of electrolyzers to behave as responsive loads. The results are compared to the operational requirements to participate in end-user facility energy management, transmission and distribution system support, and wholesale electricity market services. Electrolyzers begin changing their electricity demand within milliseconds of a set-point change. The settling time after a set-point change is on the order of seconds. It took 6.5 minutes for the PEM unit to execute a cold start and 1 minute to turn off. In addition, a frequency disturbance correction test was performed and electrolyzers were able to accelerate the speed that the grid frequency can be restored. Electrolyzers acting as demand response devices can respond sufficiently fast and for a long enough duration to participate in all of the applications explored. Furthermore, electrolyzers can be operated to support a variety of applications while also providing hydrogen for industrial processes, transportation fuel, or heating fuel. Additionally, favorable operating properties and a variety of potential system architectures showcase the flexibility of electrolyzer systems.
76 FR 56363 - Capital Project Management
2011-09-13
...-0030] RIN 2132-AA92 Capital Project Management AGENCY: Federal Transit Administration (FTA), DOT... current FTA rule for project management oversight into a discrete set of managerial principles for sponsors of major capital projects; enable FTA to more clearly identify the necessary management capacity...
76 FR 67400 - Capital Project Management
2011-11-01
...-0030] RIN 2132-AA92 Capital Project Management AGENCY: Federal Transit Administration (FTA), DOT... extending the comment period on its proposed rule for Capital Project Management to December 2, 2011, to...) proposing to transform the current FTA rule for project management oversight into a discrete set of...
Application of neutral electrolyzed water to disinfection of alginate impression.
Nagamatsu, Yuki; Chen, Ker-Kong; Nagamatsu, Hiroshi; Kozono, Yoshio; Shimizu, Hiroshi
2016-01-01
Neutral electrolyzed water was developed with new concepts of long-term good durability and minimum corrosiveness to metal in addition to its excellent bactericidal activities similar to acid type of electrolyzed waters. The present study examined the bactericidal effects of the neutral electrolyzed water on disinfection of the alginate impression of a dental arch model contaminated by bacteria. Only 1-min immersion in neutral electrolyzed water could sufficiently disinfect the alginate impression including the metallic tray under ultrasonic with no significant differences from acid electrolyzed waters. No bactericidal effects were found in any electrolyzed water when used as mixing water. Considering the advantages and disadvantages of each electrolyzed water in a comprehensive way, it was suggested that neutral electrolyzed water may be the most appropriate for the disinfection of alginate impression.
Capital Projects Application (CPA)
General Services Administration — Capital Projects application (CPA) provides users with the ability to maintain project related financial data for Budget Activity (BA) 51, 55, 64, 01, 02, 03, 04....
78 FR 1991 - Major Capital Investment Projects
2013-01-09
... Administration 49 CFR Part 611 Major Capital Investment Projects; Notice of Availability of Proposed New Starts... Capital Investment Projects AGENCY: Federal Transit Administration (FTA), DOT. ACTION: Final rule. SUMMARY... capital investments seeking funding under the discretionary ``New Starts'' and ``Small Starts'' programs...
75 FR 31383 - Major Capital Investment Projects
2010-06-03
...-0009] RIN 2132-AB02 Major Capital Investment Projects AGENCIES: Federal Transit Administration (FTA... current approach to evaluating and rating major capital investment projects (``New Starts'' and ``Small...'' to address identified transportation needs in the corridor without a major capital investment in new...
Development of device producing electrolyzed water for home care
International Nuclear Information System (INIS)
Umimoto, K; Nagata, S; Yanagida, J
2013-01-01
When water containing ionic substances is electrolyzed, electrolyzed water with strong bactericidal ability due to the available chlorine(AC) is generated on the anode side. Slightly acidic to neutral electrolyzed water (pH 6.5 to 7.5) is physiological pH and is suitable for biological applications. For producing slightly acidic to neutral electrolyzed water simply, a vertical-type electrolytic tank with an asymmetric structure was made. As a result, a small amount of strongly alkaline water was generated in the upper cathodic small chamber, and a large amount of weakly acidic water generated in the lower anodic large chamber. The pH and AC concentration in solutin mixed with both electrolyzed water were 6.3 and 39.5 ppm, respectively, This solution was slightly acidic to neutral electrolyzed water and had strong bactericidal activity. This device is useful for producing slightly acidic to neutral electrolyzed water as a disinfectant to employ at home care, when considering economic and environmental factors, since it returns to ordinary water after use.
Prioritization of Capital Projects
National Research Council Canada - National Science Library
LaVielle, Michael
2002-01-01
Public works capital projects in the U,S, naval forces are not prioritized and funded in a way that best uses limited operations resources and maintenance dollars, This thesis develops a linear model...
Pressure Dome for High-Pressure Electrolyzer
Norman, Timothy; Schmitt, Edwin
2012-01-01
A high-strength, low-weight pressure vessel dome was designed specifically to house a high-pressure [2,000 psi (approx. = 13.8 MPa)] electrolyzer. In operation, the dome is filled with an inert gas pressurized to roughly 100 psi (approx. = 690 kPa) above the high, balanced pressure product oxygen and hydrogen gas streams. The inert gas acts to reduce the clamping load on electrolyzer stack tie bolts since the dome pressure acting axially inward helps offset the outward axial forces from the stack gas pressure. Likewise, radial and circumferential stresses on electrolyzer frames are minimized. Because the dome is operated at a higher pressure than the electrolyzer product gas, any external electrolyzer leak prevents oxygen or hydrogen from leaking into the dome. Instead the affected stack gas stream pressure rises detectably, thereby enabling a system shutdown. All electrical and fluid connections to the stack are made inside the pressure dome and require special plumbing and electrical dome interfaces for this to be accomplished. Further benefits of the dome are that it can act as a containment shield in the unlikely event of a catastrophic failure. Studies indicate that, for a given active area (and hence, cell ID), frame outside diameter must become ever larger to support stresses at higher operating pressures. This can lead to a large footprint and increased costs associated with thicker and/or larger diameter end-plates, tie-rods, and the frames themselves. One solution is to employ rings that fit snugly around the frame. This complicates stack assembly and is sometimes difficult to achieve in practice, as its success is strongly dependent on frame and ring tolerances, gas pressure, and operating temperature. A pressure dome permits an otherwise low-pressure stack to operate at higher pressures without growing the electrolyzer hardware. The pressure dome consists of two machined segments. An O-ring is placed in an O-ring groove in the flange of the bottom
Hydrodynamic analysis and simulation of a flow cell ammonia electrolyzer
International Nuclear Information System (INIS)
Diaz, Luis A.; Botte, Gerardine G.
2015-01-01
Highlights: • NH_3 electrooxidation mechanism was validated in a bench scale electrolyzer. • All kinetic parameters for NH_3 electro-oxidation were calculated and verified. • Hydrodynamic behavior of the NH_3 electrolyzer was properly described as a CSTR. • CSTR model was successfully applied to simulate a flow ammonia electrolyzer. - Abstract: The hydrodynamic analysis and simulation of a non-ideal single pass flow cell alkaline ammonia electrolyzer was performed after the scale-up of a well-characterized deposited polycrystalline Pt on Ni anode. The hydrodynamic analysis was performed using the residence time distribution (RTD) test. The results of the hydrodynamic investigation provide additional insights for the kinetic analysis of the ammonia electrooxidation reaction on polycrystalline Pt electrocatalysts -which are typically obtained under controlled flow regime, e.g., rotating disk electrode- by including the flow non-uniformity present in the electrolyzer. Based on the RTD function, the ammonia electrolyzer performance was simulated as a non-steady stirred tank reactor (CSTR) and the unknown kinetic parameters were obtained by fitting the simulation results with an experimental current profile, obtaining an adequate prediction of the ammonia conversion. This simplified approach for the simulation of the ammonia electrolyzer could be implemented in process simulation packages and could be used for the design and scale-up of the process for hydrogen production and wastewater remediation.
78 FR 16460 - Capital Project Management
2013-03-15
...-0030] RIN 2132-AA92 Capital Project Management AGENCY: Federal Transit Administration (FTA), DOT... withdrawing its September 13, 2011, Notice of Proposed Rulemaking to revise the agency's project management... will reinitiate a rulemaking for project management oversight in the near future. Additionally, FTA may...
THE FORMATION OF A CAPITAL INVESTMENT PROJECT INDUSTRIAL ENTERPRISES
Directory of Open Access Journals (Sweden)
Y. S. Potashnik
2015-01-01
Full Text Available The article specifies the main sources of financing of investment projects of industrial enterprises, among which are proposed to distinguish between belonging to the participants (shareholders of the company and others. Shows the sequence and content of the steps in building the industrial enterprises of a specific capital investment project. The main requirements for the capital structure of the investment project. As such invited to consider the requirements for the financial feasibility of the project, minimize the cost of capital of the project, the need for additional investments and changes of property shares members of the company, and not exceeding the maximum level of the probability of occurrence of insolvency of the enterprise. The approach allowing to assess the adequacy of the probability of occurrence of insolvency of the enterprise in one way or another the capital structure of the project the maximum allowable (limit level. The methodical examples of basic calculations.
Development of a pressurized bipolar alkaline water electrolyzer
Energy Technology Data Exchange (ETDEWEB)
Neves Junior, Newton Pimenta; Pinto, Edgar A. de Godoi Rodrigues; Silva, Ennio Peres da; Rapelli, Rubia; Pinto, Cristiano da Silva [Universidade Estadual de Campinas (DFA/ IFGW/UNICAMP), SP (Brazil). Inst. de Fisica Gleb Wataghin. Dept. de Fisica Aplicada], Email: nevesjr@unicamp.br; Marin Neto, Antonio Jose; Lopes, Daniel Gabriel; Camargo, Joao Carlos; Ferreira, Paulo F.P. [Hydrogen Technology (HyTron), Campinas, SP (Brazil); Furlan, Andre Luis [Universidade Estadual de Campinas (DE/FEC/UNICAMP), SP (Brazil). Fac. de Engenharia Mecanica
2010-07-01
This paper reports the actual development status of a bipolar alkaline water electrolyzer with maximum production capacity of 1 m3/h of hydrogen and controlled by a PLC (Programmable Logic Controller), which also interfaces the electrolytic system with operators and other equipment, such as gas storage tanks, fuel cells and photovoltaic panels. The project also includes the construction of an electrolysis test bench to record electrical parameters (cathode, anode, separator and electrolyte potentials), the amount of produced gases and gas quality determined by gas chromatography. (author)
Electrolyzer assembly method and system
Energy Technology Data Exchange (ETDEWEB)
Swala, Dana Ray; Bourgeois, Richard Scott; Paraszczak, Steven; Buckley, Donald Joseph
2017-05-23
The present techniques provide a novel electrolyzer and methods for welding components of such electrolyzers. The techniques may use conductors, such as resistance wires, placed in paths around the internal structural features and edges of the components. The conductors may be incorporated into the components during manufacture by injection molding, or other molding techniques, or may be tacked or otherwise applied to the surface of the components after manufacture. When current, a field or other excitation is applied to the conductors, the plastic surrounding the wire is melted. If this plastic is in direct contact with an adjoining component, a strong, hermetic seal may be formed between the two components, including the internal structural features.
COMPONENT DEVELOPMENT NEEDS FOR THE HYBRID SULFUR ELECTROLYZER
Energy Technology Data Exchange (ETDEWEB)
Hobbs, D; Hector Colon-Mercado, H; Mark Elvington, M
2008-05-30
Fiscal year 2008 studies in electrolyzer component development have focused on the characterization of membrane electrode assemblies (MEA) after performance tests in the single cell electrolyzer, evaluation of electrocatalysts and membranes using a small scale electrolyzer and evaluating the contribution of individual cell components to the overall electrochemical performance. Scanning electron microscopic (SEM) studies of samples taken from MEAs testing in the SRNL single cell electrolyzer test station indicates a sulfur-rich layer forms between the cathode catalyst layer and the membrane. Based on a review of operating conditions for each of the MEAs evaluated, we conclude that the formation of the layer results from the reduction of sulfur dioxide as it passes through the MEA and reaches the catalyst layer at the cathode-membrane interface. Formation of the sulfur rich layer results in partial delamination of the cathode catalyst layer leading to diminished performance. Furthermore we believe that operating the electrolyzer at elevated pressure significantly increases the rate of formation due to increased adsorption of hydrogen on the internal catalyst surface. Thus, identification of a membrane that exhibits much lower transport of sulfur dioxide is needed to reduce the quantity of sulfur dioxide that reaches the cathode catalyst and is reduced to produce the sulfur-rich layer. Three candidate membranes are currently being evaluated that have shown promise from preliminary studies, (1) modified Nafion{reg_sign}, (2) polybenzimidazole (PBI), and (3) sulfonated Diels Alder polyphenylene (SDAPP). Testing examined the activity for the sulfur dioxide oxidation of platinum (Pt) and platinum-alloy catalysts in 30 wt% sulfuric acid solution. Linear sweep voltammetry showed an increase in activity when catalysts in which Pt is alloyed with non-noble transition metals such as cobalt and chromium. However when Pt is alloyed with noble metals, such as iridium or ruthenium
77 FR 5750 - Major Capital Investment Projects (NPRM); Public Meetings
2012-02-06
...-0009] RIN 2132-AB02 Major Capital Investment Projects (NPRM); Public Meetings AGENCY: Federal Transit... Capital Investments program (``New Starts'' and ``Small Starts''). During these sessions, FTA staff will... amend the regulations for Major Capital Investment Projects at 49 CFR 611. The docket for comments on...
Universal cell frame for high-pressure water electrolyzer and electrolyzer including the same
Schmitt, Edwin W.; Norman, Timothy J.
2013-01-08
Universal cell frame generic for use as an anode frame and as a cathode frame in a water electrolyzer. According to one embodiment, the universal cell frame includes a unitary annular member having a central opening. Four trios of transverse openings are provided in the annular member, each trio being spaced apart by about 90 degrees. A plurality of internal radial passageways fluidly interconnect the central opening and each of the transverse openings of two diametrically-opposed trios of openings, the other two trios of openings lacking corresponding radial passageways. Sealing ribs are provided on the top and bottom surfaces of the annular member. The present invention is also directed at a water electrolyzer that includes two such cell frames, one being used as the anode frame and the other being used as the cathode frame, the cathode frame being rotated 90 degrees relative to the anode frame.
Project-Based Organizations and the New Spirit of Capitalism
DEFF Research Database (Denmark)
Jagd, Søren
Luc Boltanski and Eve Chiapello’s analysis of recent changes in capitalism – Le nouvel esprit du capitalisme - is an important contribution to the sociological analysis of capitalism. The aim of this paper is to present their main argument. It is argued that a particular important aspect...... of their analysis is the ideal-typical model of the new spirit of capitalism, the ideological underpinning of project-based organizations in ‘The Project World’. It is argued that the ideal-typical model of the Project World is the most elaborated description of the ‘cultural code’ of the emergent form...... of capitalist organizations. Last, it is discussed how we may obtain empirical evidence to test the hypothesis of a major change in capitalist organizational forms as well as in the recent spirit of capitalism....
12 strategies for managing capital projects.
Stoudt, Richard L
2013-05-01
To reduce the amount of time and cost associated with capital projects, healthcare leaders should: Begin the project with a clear objective and a concise master facilities plan. Select qualified team members who share the vision of the owner. Base the size of the project on a conservative business plan. Minimize incremental program requirements. Evaluate the cost impact of the building footprint. Consider alternative delivery methods.
International Nuclear Information System (INIS)
Calise, Francesco; Figaj, Rafal Damian; Massarotti, Nicola; Mauro, Alessandro; Vanoli, Laura
2017-01-01
can be profitable in presence of a capital investment incentive. The total energy efficiency of the CPVT collectors, calculated with respect to the beam radiation, is above 80% and the fuel cell electrical and thermal efficiencies resulted 35.0% and 43.4%, respectively. The hydrogen production of the electrolyzer system covers 4.3% of the fuel cell hydrogen demand. The Simple Pay Back period, in case of incentive, results of about 5 years when the optimal FC nominal power of 100 kW is selected.
Electrolyzed water and its application in animal houses
Directory of Open Access Journals (Sweden)
Weichao ZHENG,Li NI,Baoming LI
2016-09-01
Full Text Available Electrolyzed water (EW can be produced by electrolysis of a dilute salt solution. Slightly acidic electrolyzed water (SAEW, pH 5.0—6.5 and neutral electrolyzed water (NEW, pH 6.5—8.5 are considered healthy and environmentally friendly because no hazardous chemicals are added in its production, there is reduced corrosion of surfaces and it minimizes the potential for damage to animal and human health. Over the last decade, EW has become increasingly popular as an alternative disinfectant for decontamination in animal houses. However, there have been some issues related to EW that are not well known, including different mechanisms for generation of SAEW and NEW, and the antimicrobial mechanism of EW. This review covers the definitions of SAEW and NEW, different generation systems for SAEW and NEW, the antimicrobial mecha- nism of EW, and recent developments related to the application of SAEW and NEW in animal houses.
Improving the gas productivity of the alkaline electrolyzer through the circulation technique
Directory of Open Access Journals (Sweden)
Kitipong Tangphant
2014-03-01
Full Text Available This research aims to study and improve the efficiency of a KOH electrolyzer through the gas productivity of the electrolyzer with different the circulation technique. In this work, the conceptual design of an electrolyzer falls into 2 categories; without pumping and with pumping. Direct current electricity at 5 different levels of 10, 15, 20, 25 and 30 A are charged into the system and the gas flow rate generated from the electrolyzer is subsequently monitored. The results show that at 30 A the gas generated from the circulation with pumping and the circulation without pumping are 2.31 litre/min and 1.76 litre/min, respectively. It is also found that the energy consumed by both techniques is the same; however, the circulation with pumping design shows the better gas productivity than that of the circulation without pumping design.
USE OF ELECTROLYZED WATER IN ANIMAL PRODUCTION
Directory of Open Access Journals (Sweden)
Dana Jirotková
2012-10-01
Full Text Available The paper deals with the possibility to use the properties of electrolyzed water to disinfect breeding halls and to water animals. The aim of the research was to find out whether elektrolyzed water used for desinfication of breedings hall and watering of animals influences selected indicators of the meat quality. Electrolyzed water is produced in a patent-protected device Envirolyte that produces biocide solution using potable water with added NaCl. The technology of production guarantees the product is entirely ecological, biologically fully degradable, non-toxic that can replace traditional chemical agents. Possibilities of disinfection using this solution have been verified directly in stables at the interval of 20, 40, 60 min. after application. Staphylococci and streptococci and enterococci were inactive always after 60 minutes of effect. There was significant decrease in the number of total number of microorganisms. Further, the solution of electrolyzed water was used to water poultry; and the affect on some of the properties of poultry meat, changes in pH, colour and loss of water (dripping in particular, was observed. Testing was carried out under working conditions in two breeding halls at a time and the technology of electrolyzed water to disinfect premises and to water chickens was used in one of the halls. When the chickens were slaughter mature, the poultry was slaughtered at the standard slaughterhouse and samples (127 pieces were taken in order to measure pH, colour and loss of water (dripping. The values of pH, colour and loss of water (dripping ascertained, processed by the T-test did not confirm the hypothesis of the assumed possible differences in occurrence of critical values of these indicators in both groups observed.
International power projections and capital requirements
International Nuclear Information System (INIS)
Ann, H.
1989-01-01
This work is related to the international power projections and capital requirements of all kinds of energy and the share of electricity. It is also related to the so-called greenhouse effect carbon dioxide concentration in atmosphere. (A.C.A.S.)
Capital Finance Decisions for project managers - A reflection on current methods
Directory of Open Access Journals (Sweden)
C. Scheepers
2003-12-01
Full Text Available This paper evaluates some of current financial investment selection methodologies for capital projects. The proc ess (and criteria of capital investment decisions is reviewed. The capital budget for most organisations is prepared annually by a committee of senior managers who then present it for approval by the board of directors. Investment proposals are usually subjected to two financial tests, "payback" and "internal rate of return (IRR". The management committee usually decides on the tests and acceptance criteria vary according to the type of project. Some shortcomings of these most frequently used current tests (Payback & IRR are identified and it is recommended that the Net Present Value (NPV should be used as the primary method for analysing, comparing and selecting capital projects.
Lee, Chi-Yuan; Li, Shih-Chun; Chen, Chia-Hung; Huang, Yen-Ting; Wang, Yu-Syuan
2018-03-15
Looking for alternative energy sources has been an inevitable trend since the oil crisis, and close attentioned has been paid to hydrogen energy. The proton exchange membrane (PEM) water electrolyzer is characterized by high energy efficiency, high yield, simple system and low operating temperature. The electrolyzer generates hydrogen from water free of any carbon sources (provided the electrons come from renewable sources such as solar and wind), so it is very clean and completely satisfies the environmental requirement. However, in long-term operation of the PEM water electrolyzer, the membrane material durability, catalyst corrosion and nonuniformity of local flow, voltage and current in the electrolyzer can influence the overall performance. It is difficult to measure the internal physical parameters of the PEM water electrolyzer, and the physical parameters are interrelated. Therefore, this study uses micro-electro-mechanical systems (MEMS) technology to develop a flexible integrated microsensor; internal multiple physical information is extracted to determine the optimal working parameters for the PEM water electrolyzer. The real operational data of local flow, voltage and current in the PEM water electrolyzer are measured simultaneously by the flexible integrated microsensor, so as to enhance the performance of the PEM water electrolyzer and to prolong the service life.
Factors of human capital related to project success in health care work units.
Suhonen, Marjo; Paasivaara, Leena
2011-03-01
To explore factors of human capital related to project success that employees expect from nurse managers. Human capital refers to those resources that managers working with projects possess, such as abilities, knowledge and qualities of character. The data were collected by open interviews (n=14) with nurses, public health nurses and nurse managers working in primary health care and a hospital. Data analysis was carried out using qualitative content analysis. The main factors of human capital related to project success proved to be as follows: (1) management of enthusiastic project culture, (2) management of regeneration and (3) management of emotional intelligence. Future research is needed on the kind of means nurse managers use in human capital management in projects and how they see their possibilities in managing human capital. Human capital management skills should be underlined as an important competence area when recruiting a nurse manager. The success of health care projects cannot be improved only through education or by training of nurse managers; in addition, projects need nurse managers who understand workplace spirituality and have high emotional intelligence. © 2011 The Authors. Journal compilation © 2011 Blackwell Publishing Ltd.
A Stability Study of Alkali Doped PBI Membranes for Alkaline Electrolyzer Cells
DEFF Research Database (Denmark)
Jensen, Jens Oluf; Aili, David; Hansen, Martin Kalmar
2014-01-01
conductivity was similar to a commercial Zirfon membrane and suitable for a water electrolyzer. Some chemical degradation was seen during the aging period, but the crosslinked and the cured materials were both integral after 176 days of aging. A simplified electrolyzer test cell was operated successfully....
Directory of Open Access Journals (Sweden)
Guoo-Shyng Wang Hsu
2017-10-01
Full Text Available Electrolyzed water is a sustainable disinfectant, which can comply with food safety regulations and is environmentally friendly. A two-factor central composite design was adopted for studying the effects of electrolysis time and electric potential on the chlorine generation efficiency of electrolyzed deep ocean water (DOW. DOW was electrolyzed in a glass electrolyzing cell equipped with platinum–plated titanium anode and cathode. The results showed that chlorine concentration reached maximal level in the batch process. Prolonged electrolysis reduced chlorine concentration in the electrolyte and was detrimental to electrolysis efficiency, especially under high electric potential conditions. Therefore, the optimal choice of electrolysis time depends on the electrolyzable chloride in DOW and cell potential adopted for electrolysis. The higher the electric potential, the faster the chlorine level reaches its maximum, but the lower the electric efficiency will be.
Effects of electrode settings on chlorine generation efficiency of electrolyzing seawater.
Hsu, Guoo-Shyng Wang; Hsia, Chih-Wei; Hsu, Shun-Yao
2015-12-01
Electrolyzed water has significant disinfection effects, can comply with food safety regulations, and is environmental friendly. We investigated the effects of immersion depth of electrodes, stirring, electrode size, and electrode gap on the properties and chlorine generation efficiency of electrolyzing seawater and its storage stability. Results indicated that temperature and oxidation-reduction potential (ORP) of the seawater increased gradually, whereas electrical conductivity decreased steadily in electrolysis. During the electrolysis process, pH values and electric currents also decreased slightly within small ranges. Additional stirring or immersing the electrodes deep under the seawater significantly increased current density without affecting its electric efficiency and current efficiency. Decreasing electrode size or increasing electrode gap decreased chlorine production and electric current of the process without affecting its electric efficiency and current efficiency. Less than 35% of chlorine in the electrolyzed seawater was lost in a 3-week storage period. The decrement trend leveled off after the 1 st week of storage. The electrolyzing system is a convenient and economical method for producing high-chlorine seawater, which will have high potential applications in agriculture, aquaculture, or food processing. Copyright © 2015. Published by Elsevier B.V.
Effects of electrode settings on chlorine generation efficiency of electrolyzing seawater
Directory of Open Access Journals (Sweden)
Guoo-Shyng Wang Hsu
2015-12-01
Full Text Available Electrolyzed water has significant disinfection effects, can comply with food safety regulations, and is environmental friendly. We investigated the effects of immersion depth of electrodes, stirring, electrode size, and electrode gap on the properties and chlorine generation efficiency of electrolyzing seawater and its storage stability. Results indicated that temperature and oxidation-reduction potential (ORP of the seawater increased gradually, whereas electrical conductivity decreased steadily in electrolysis. During the electrolysis process, pH values and electric currents also decreased slightly within small ranges. Additional stirring or immersing the electrodes deep under the seawater significantly increased current density without affecting its electric efficiency and current efficiency. Decreasing electrode size or increasing electrode gap decreased chlorine production and electric current of the process without affecting its electric efficiency and current efficiency. Less than 35% of chlorine in the electrolyzed seawater was lost in a 3-week storage period. The decrement trend leveled off after the 1st week of storage. The electrolyzing system is a convenient and economical method for producing high-chlorine seawater, which will have high potential applications in agriculture, aquaculture, or food processing.
Hsu, Guoo-Shyng Wang; Lu, Yi-Fa; Hsu, Shun-Yao
2017-10-01
Electrolyzed water is a sustainable disinfectant, which can comply with food safety regulations and is environmentally friendly. A two-factor central composite design was adopted for studying the effects of electrolysis time and electric potential on the chlorine generation efficiency of electrolyzed deep ocean water (DOW). DOW was electrolyzed in a glass electrolyzing cell equipped with platinum-plated titanium anode and cathode. The results showed that chlorine concentration reached maximal level in the batch process. Prolonged electrolysis reduced chlorine concentration in the electrolyte and was detrimental to electrolysis efficiency, especially under high electric potential conditions. Therefore, the optimal choice of electrolysis time depends on the electrolyzable chloride in DOW and cell potential adopted for electrolysis. The higher the electric potential, the faster the chlorine level reaches its maximum, but the lower the electric efficiency will be. Copyright © 2016. Published by Elsevier B.V.
Academic Researchers on the Project Market in the Ethos of Knowledge Capitalism
Brunila, Kristiina; Hannukainen, Kristiina
2017-01-01
How knowledge capitalism retools the scope of academic research and researchers is an issue which this article ties to the project market in the ethos of knowledge capitalism. In Finland, academic research has been forced to apply for funding in project-based activities reflecting European Union policies. The project market, which in this article…
Treatment of infectious skin defects or ulcers with electrolyzed strong acid aqueous solution.
Sekiya, S; Ohmori, K; Harii, K
1997-01-01
A chronic ulcer with an infection such as methicillin-resistant Staphylococcus aureus is hard to heal. Plastic and reconstructive surgeons often encounter such chronic ulcers that are resistant to surgical or various conservative treatments. We applied conservative treatment using an electrolyzed strong acid aqueous solution and obtained satisfactory results. The lesion was washed with the solution or soaked in a bowl of the solution for approximately 20 min twice a day. Fresh electrolyzed strong acid aqueous solution is unstable and should be stored in a cool, dark site in a sealed bottle. It should be used within a week after it has been produced. Here we report on 15 cases of infectious ulcers that were treated by electrolyzed strong acid aqueous solution. Of these cases, 7 patients were healed, 3 were granulated, and in 5, infection subsided. In most cases the lesion became less reddish and less edematous. Discharge or foul odor from the lesion was decreased. Electrolyzed strong acid aqueous solution was especially effective for treating a chronic refractory ulcer combined with diabetes melitus or peripheral circulatory insufficiency. This clinically applied therapy of electrolyzed strong acid aqueous solution was found to be effective so that this new therapeutic technique for ulcer treatment can now be conveniently utilized.
Human Capital Investment and the Completion of Risky R&D Projects
DEFF Research Database (Denmark)
Siyahhan, Baran; Engelbert, Dockner
2010-01-01
but can be observed during the R&D phase of the project. The exogenous value of the patent determines the firm’s decisions to invest in human capital, to abandon the project if nec- essary, and to invest in marketing the new product. We study the corresponding optimal stopping times, determine their value...... and risk consequences, and derive optimal investment in the stock of human capital. While optimal investment in human capital is very sensitive to its productivity do increase the probability of a breakthrough it is insensitive to changes in the volatility of the present value of the patent. The value...... of the firm is driven by fixed labor costs that occur until the breakthrough is made, the call option to invest in human capital and market the product, and the put option to abandon the project. These options together with labor costs’ based operating leverage determine the risk dynamics. Risk varies non...
Human Capital Investment and the Value of Risky R&D Projects
DEFF Research Database (Denmark)
Dockner, Engelbert; Siyahhan, Baran
be observed during the R&D phase of the project. The exogenous value of the patent determines the firm’s decisions to invest in human capital, to abandon the project if necessary, and to invest in marketing the new product. We study the corresponding optimal stopping times, determine their value and risk...... consequences, and derive optimal investment in the stock of human capital. While optimal investment in human capital is very sensitive to its productivity do increase the probability of a breakthrough it is insensitive to changes in the volatility of the present value of the patent. The value of the firm...... is driven by fixed labor costs that occur until the breakthrough is made, the call option to invest in human capital and market the product, and the put option to abandon the project. These options together with labor costs’ based operating leverage determine the risk dynamics. Firm risk is inverse U...
International Nuclear Information System (INIS)
Sayedin, Farid; Maroufmashat, Azadeh; Sattari, Sourena; Elkamel, Ali; Fowler, Michael
2016-01-01
Highlights: • The optimal size of directly coupled Photovoltaic–Electrolyzer (PV/EL) is studied. • The effect of climate condition on the performance of PV/EL is studied. • PV/EL energy transfer loss and the levelized cost of hydrogen production minimized. • The model is applied to locations with different climate and solar irradiations. • Solar to electricity/electricity to hydrogen/solar to hydrogen efficiencies are derived. - Abstract: Solar energy will make a valuable contribution for power generation in the future. However the intermittency of solar energy has become an important issue in the utilization of PV system, especially small scale distributed solar energy conversion systems. The issue can be addressed through the management of production and storage of the energy in the form of hydrogen. The hydrogen can be produced by solar photovoltaic (PV) powered electrolysis of water. The amount of transferred energy to an electrolyzer from a PV module is a function of the distance between maximum power points (MPP) of PV module and the electrolyzer operating points. The distance can be minimized by optimizing the number of series and parallel units of the electrolyzer. However the maximum power points are subject to PV module characteristics, solar irradiation and ambient temperature. This means the climate condition can substantially influence the MPP and therefore the optimal size of the PV–Electrolyzer (PV/EL) system. On the other hand, system size can affect the levelized cost of hydrogen production as well. In this paper, the impact of climate conditions on the optimal size and operating conditions of a direct coupled photovoltaic–electrolyzer system has been studied. For this purpose, the optimal size of electrolyzer for six cities which have different climate condition is obtained by considering two solution scenarios, regarding two objectives which are annual energy transfer loss and levelized costs of hydrogen production and then the
Design of the electrolyzer for the solar hydrogen production system
International Nuclear Information System (INIS)
Ibrahim, M.; Kamaruzzaman Sopian; Wan Ramli Wan Daud
2006-01-01
This paper presents the theoretical design of hydrogen system. Also, it shown the details steps of theoretical calculation to produce the required amount of hydrogen. Hydrogen is considered the fuel of the future. It is promising alternative for fossil fuel. Since, it is non-pollutant and renewable. The system contains and required equipment are photovoltaic panel, energy storage battery, converter, electrolyzer and hydrogen storage. By using 1.7 V supplied by PV, the simulation results gives 89 1/day of hydrogen. Since, the electrolyzer efficiency assumed to be 50%
An Efficiency Model For Hydrogen Production In A Pressurized Electrolyzer
Energy Technology Data Exchange (ETDEWEB)
Smoglie, Cecilia; Lauretta, Ricardo
2010-09-15
The use of Hydrogen as clean fuel at a world wide scale requires the development of simple, safe and efficient production and storage technologies. In this work, a methodology is proposed to produce Hydrogen and Oxygen in a self pressurized electrolyzer connected to separate containers that store each of these gases. A mathematical model for Hydrogen production efficiency is proposed to evaluate how such efficiency is affected by parasitic currents in the electrolytic solution. Experimental set-up and results for an electrolyzer are also presented. Comparison of empirical and analytical results shows good agreement.
75 FR 39492 - Major Capital Investment Projects
2010-07-09
... DEPARTMENT OF TRANSPORTATION Federal Transit Administration 49 CFR Part 611 [Docket No. FTA-2010-0009] RIN 2132-AB02 Major Capital Investment Projects AGENCY: Federal Transit Administration (FTA), DOT. ACTION: Public meetings on ANPRM. SUMMARY: This document announces the date, time, and location of an...
75 FR 33757 - Major Capital Investment Projects
2010-06-15
... DEPARTMENT OF TRANSPORTATION Federal Transit Administration 49 CFR Part 611 [Docket No. FTA-2010-0009] RIN 2132-AB02 Major Capital Investment Projects AGENCY: Federal Transit Administration (FTA), DOT. ACTION: Public meetings on ANPRM. SUMMARY: This document announces the dates, times, and locations of...
International Nuclear Information System (INIS)
Pierru, Axel; Roussanaly, Simon; Sabathier, Jérôme
2013-01-01
This paper provides new empirical insights on the capital structure of project-financed LNG infrastructures and gas pipeline projects, by using data relating to projects whose financial close occurred between June 2004 and March 2011. Most results are consistent with the basic view of risk-averse funds suppliers. Especially, the projects located in risky countries and larger projects tend to exhibit lower debt ratios and less-concentrated equity ownerships. In addition, regasification projects appear to have a more diluted equity ownership. Methodological issues raised by the financing of these projects are also examined from a capital-budgeting perspective. In particular, the equity residual method, usually used by industrial practitioners to value these projects, should be adjusted. - Highlights: • This paper provides new empirical insights on the capital structure of project-financed LNG and gas pipeline infrastructures. • Most of our results are consistent with the basic view of risk-averse funds suppliers. • Projects located in risky countries exhibit lower debt ratios and less-concentrated equity ownerships. • Larger projects and regasification projects also have less concentrated equity ownerships. • From a capital-budgeting viewpoint, we examine methodological issues raised by the financing of these projects
Summary of Market Opportunities for Electric Vehicles and Dispatchable Load in Electrolyzers
Energy Technology Data Exchange (ETDEWEB)
Denholm, Paul [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Eichman, Joshua [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Markel, Tony [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Ma, Ookie [U.S Department of Energy, Washington, DC (United States)
2015-05-19
Electric vehicles (EVs) and electrolyzers are potentially significant sources of new electric loads. Both are flexible in that the amount of electricity consumed can be varied in response to a variety of factors including the cost of electricity. Because both EVs and electrolyzers can control the timing of electricity purchases, they can minimize energy costs by timing the purchases of energy to periods of lowest costs.
Relational approach in managing construction project safety: a social capital perspective.
Koh, Tas Yong; Rowlinson, Steve
2012-09-01
Existing initiatives in the management of construction project safety are largely based on normative compliance and error prevention, a risk management approach. Although advantageous, these approaches are not wholly successful in further lowering accident rates. A major limitation lies with the approaches' lack of emphasis on the social and team processes inherent in construction project settings. We advance the enquiry by invoking the concept of social capital and project organisational processes, and their impacts on project safety performance. Because social capital is a primordial concept and affects project participants' interactions, its impact on project safety performance is hypothesised to be indirect, i.e. the impact of social capital on safety performance is mediated by organisational processes in adaptation and cooperation. A questionnaire survey was conducted within Hong Kong construction industry to test the hypotheses. 376 usable responses were received and used for analyses. The results reveal that, while the structural dimension is not significant, the mediational thesis is generally supported with the cognitive and relational dimensions affecting project participants' adaptation and cooperation, and the latter two processes affect safety performance. However, the cognitive dimension also directly affects safety performance. The implications of these results for project safety management are discussed. Copyright © 2011 Elsevier Ltd. All rights reserved.
Pre-Project planning of Capital Facilities at NASA
Barrow, Benjamin John
1999-01-01
This thesis details the development of a NASA specific Project Definition Rating Index (PDRI) tool. This tool is to be used as a checklist for determining the necessary steps to follow in defining project scope and as a means to monitor progress and assess scope definition completeness at various stages during the NASA Pre-Project Planning process. This thesis also describes and identifies specific points in the NASA Capital Facility Programming Cycle for the performance of PDRI assessments ...
Thermodynamic analysis of combined Solid Oxide Electrolyzer and Fischer–Tropsch processes
International Nuclear Information System (INIS)
Stempien, Jan Pawel; Ni, Meng; Sun, Qiang; Chan, Siew Hwa
2015-01-01
In this paper a thermodynamic analysis and simple optimization of a combined Solid Oxide Electrolyzer Cell and Fisher–Tropsch Synthesis processes for sustainable hydrocarbons fuel production is reported. Comprehensive models are employed to describe effects of temperature, pressure, reactant composition and molar flux and flow on the system efficiency and final production distribution. The electrolyzer model was developed in-house and validated with experimental data of a typical Solid Oxide Electrolyzer. The Fischer–Tropsch Synthesis model employed lumped kinetics of syngas utilization, which includes inhibiting effect of water content and kinetics of Water–Gas Shift reaction. Product distribution model incorporated olefin re-adsorption and varying physisorption and solubility of hydrocarbons with their carbon number. The results were compared with those reported by Becker et al. with simplified analysis of such process. In the present study an opposite effect of operation at elevated pressure was observed. Proposed optimized system achieved overall efficiency of 66.67% and almost equal spread of light- (31%wt), mid-(36%wt) and heavy-hydrocarbons (33%wt). Paraffins contributed the majority of the yield. - Highlights: • Analysis of Solid Oxide Electrolyzer combined with Fisher Tropsch process. • Efficiency of converting water and carbon dioxide into synthetic fuels above 66%. • Effects of process temperature, pressure, gas flux and compositions were analyzed
Design of electrodes in geometrical control type electrolyzer for oxide electrowinning process
International Nuclear Information System (INIS)
Nobuo Okamura; Kenji Koizumi; Tadahiro Washiya; Shinnichi Aose
2005-01-01
Japan Nuclear Cycle Development Institute (JNC) has been developing a commercial scale electrolyzer with a throughput of 25 tHM/y for an oxide electrowinning process, a kind of pyrochemical reprocessing process. But it had some significant subjects to be solved before the application to a commercial reprocessing plant. The electrolyzer has some innovative characteristics, such as cold crucible induction melting (CCIM) technology and criticality safety control by shape of the vessel, in order to solve those subjects. These characteristics make a crucible narrow and deep. Therefore an arrangement of the internal components in the crucible is difficult. Two kinds of computer cords that evaluate the temperature distribution and the current density distribution were improved to help a design of the internal constitution. Finally, the internal constitution of the commercial scale electrolyzer was designed by using them in this study. (authors)
Energy Technology Data Exchange (ETDEWEB)
Dennis W. Smith; Stephen Creager
2012-09-13
Thermochemical water splitting cycles, using the heat of nuclear power plants, offer an alternate highly efficient route for the production of hydrogen. Among the many possible thermochemical cycles for the hydrogen production, the sulfur-based cycles lead the competition in overall energy efficiency. A variant on sulfur-based thermochemical cycles is the Hybrid Sulfur (HyS) Process, which uses a sulfur dioxide depolarized electrolyzer (SDE) to produce hydrogen. The Savannah River National Laboratory (SRNL) selected the fuel cell MEA design concept for the SDE in the HyS process since the MEA concept provides a much smaller cell footprint than conventional parallel plate technology. The electrolyzer oxidizes sulfur dioxide to form sulfuric acid at the anode and reduces protons to form hydrogen at the cathode. The overall electrochemical cell reaction consists of the production of H{sub 2}SO{sub 4} and H{sub 2}. There is a significant need to provide the membrane materials that exhibit reduced sulfur dioxide transport characteristics without sacrificing other important properties such as high ionic conductivity and excellent chemical stability in highly concentrated sulfuric acid solutions saturated with sulfur dioxide. As an alternative membrane, sulfonated Perfluorocyclobutyl aromatic ether polymer (sPFCB) were expected to posses low SO2 permeability due to their stiff backbones as well as high proton conductivity, improved mechanical properties. The major accomplishments of this project were the synthesis, characterizations, and optimizations of suitable electrolyzers for good SDE performance and higher chemical stability against sulfuric acid. SDE performance results of developed sPFCB polyelectrolytes have shown that these membranes exhibit good chemical stability against H{sub 2}SO{sub 4}.
Assessing Discount Rate for a Project Financed Entirely with Equity Capital
Directory of Open Access Journals (Sweden)
Nicoleta Vintila
2007-09-01
Full Text Available Estimating discount rate for an investment project is one of the most challenging tasks incapital budgeting. In this paper we discuss different kind of models for cost of equity capital proposed infinance literature (static CAPM, conditional CAPM, APT, build-up model, focusing especially on advantagesand disadvantages of using each of them. In the final section, we estimate the discount rate fora certain project financed entirely with equity capital, using a version of build-up model.
Advanced Oxygen Evolution Catalysts for PEM Electrolyzers, Phase II
National Aeronautics and Space Administration — Future NASA missions require high efficiency, lightweight, long life, and maintenance-free water electrolyzer technologies to generate oxygen and/or hydrogen for...
Radiation durability of polymeric materials in solid polymer electrolyzer for fusion tritium plant
International Nuclear Information System (INIS)
Iwai, Yasunori; Yamanishi, Toshihiko; Hiroki, Akihiro; Tamada, Masao
2009-02-01
This document presents the radiation durability of various polymeric materials applicable to a solid-polymer-electrolyte (SPE) water electrolyzer to be used in the tritium facility of fusion reactor. The SPE water electrolyzers are applied to the water detritiation system (WDS) of the ITER. In the ITER, an electrolyzer should keep its performance during two years operation in the tritiated water of 9TBq/kg, the design tritium concentration of the ITER. The tritium exposure of 9TBq/kg for two years is corresponding to the irradiation of no less than 530 kGy. In this study, the polymeric materials were irradiated with γ-rays or with electron beams at various conditions up to 1600 kGy at room temperature or at 343 K. The change in mechanical and functional properties were investigated by stress-strain measurement, thermogravimetric analysis (TGA), differential scanning calorimetry (DSC), X-ray photoelectron spectra (XPS), and so on. Our selection of polymeric materials for a SPE water electrolyzer used in a radiation environment was Pt + Ir applied Nafion N117 ion exchange membrane, VITON O-ring seal and polyimide insulator. (author)
Regenerative Hydrogen-oxygen Fuel Cell-electrolyzer Systems for Orbital Energy Storage
Sheibley, D. W.
1984-01-01
Fuel cells have found application in space since Gemini. Over the years technology advances have been factored into the mainstream hardware programs. Performance levels and service lives have been gradually improving. More recently, the storage application for fuel cell-electrolyzer combinations are receiving considerable emphasis. The regenerative system application described here is part of a NASA Fuel Cell Program which was developed to advance the fuel cell and electrolyzer technology required to satisfy the identified power generation and energy storage need of the Agency for space transportation and orbital applications to the year 2000.
Directory of Open Access Journals (Sweden)
Simone Pascuzzi
2016-07-01
Full Text Available A greenhouse containing an integrated system of photovoltaic panels, a water electrolyzer, fuel cells and a geothermal heat pump was set up to investigate suitable solutions for a power system based on solar energy and hydrogen, feeding a self-sufficient, geothermal-heated greenhouse. The electricity produced by the photovoltaic source supplies the electrolyzer; the manufactured hydrogen gas is held in a pressure tank. In these systems, the electrolyzer is a crucial component; the technical challenge is to make it work regularly despite the irregularity of the solar source. The focus of this paper is to study the performance and the real energy efficiency of the electrolyzer, analyzing its operational data collected under different operating conditions affected by the changeable solar radiant energy characterizing the site where the experimental plant was located. The analysis of the measured values allowed evaluation of its suitability for the agricultural requirements such as greenhouse heating. On the strength of the obtained result, a new layout of the battery bank has been designed and exemplified to improve the performance of the electrolyzer. The evaluations resulting from this case study may have a genuine value, therefore assisting in further studies to better understand these devices and their associated technologies.
Electrolyzer for NASA Lunar Regenerative Fuel Cells, Phase II
National Aeronautics and Space Administration — Water electrolyzer stacks are a key component of regenerative fuel cells, designed to replace batteries as a means of storing electric energy on the lunar surface....
Effect of electrolyzed reduced water on malondialdehyde levels and ...
African Journals Online (AJOL)
Purpose: To evaluate the effects of electrolyzed reduced water (ERW) on .... dehydrated and cleared with alcohol. ... assay tubes were incubated at a temperature of ... oxygen-dependent and oxygen-independent .... Oxidative Medicine and.
Modelling electrolyte conductivity in a water electrolyzer cell
DEFF Research Database (Denmark)
Caspersen, Michael; Kirkegaard, Julius Bier
2012-01-01
An analytical model describing the hydrogen gas evolution under natural convection in an electrolyzer cell is developed. Main purpose of the model is to investigate the electrolyte conductivity through the cell under various conditions. Cell conductivity is calculated from a parallel resistor...
CRITICAL SUCCESS FACTORS FOR BROWN-FIELD CAPITAL AND RENEWAL PROJECTS
Directory of Open Access Journals (Sweden)
J. Warchol
2012-01-01
Full Text Available
ENGLISH ABSTRACT: Manufacturing companies operate in a business environment where incremental growth may be achieved through expansion and renewal of existing plant and facilities. Effective management of the critical success factors of such capital development projects may also provide competitive advantage. These projects tend to be of a brown-field nature, characterised by a significant level of risk arising from the interaction between the project implementation and concurrent operation of the existing physical asset base. So it is vital to understand the factors that influence the success of capital expansion and renewal projects in the brown-field context. Although each project has unique features, there are critical success factors that can be customised for successful outcomes in the brown-field environment. This study identifies five critical success factors applicable to brown-field capital expansion and renewal projects. Managerial focus on the critical factors, and the prospects for successful brown-field projects, are discussed in the paper.
AFRIKAANSE OPSOMMING: Vervaardigers funksioneer in ‘n sakeomgewing waar voortgesette groei bereik word via uitbreiding en hernuwing van bestaande fasiliteite. Die doeltreffende bestuur van kritiese suksesfaktore van sodanige kapitaalprojekte bied geleentheid vir mededingende voordeel. Projekte van hierdie aard neig om geklassifiseer te word as van herontwikkelingsaard, met betekenisvolle gepaardgaande risiko wat voortspruit uit die interaksie tussen projekimplementering en gelyktydige bedryf van bestaande fisiese bates. Derhalwe is dit belangrik om in die konteks van herontwikkeling aandag te gee aan die kritiese faktore wat ‘n rol speel in die bereiking van sukses. Die navorsing identifiseer vyf kritiese suksesfaktore van belang vir uitbreidings- en vernuwingsprojekte.
PREPS2 - a PC-based computer program for performing economic analysis of capital projects
International Nuclear Information System (INIS)
Blake, M.W.; Brand, D.O.; Chastain, E.T.; Johnson, E.D.
1990-01-01
In these times of increased spending to finance new capacity and to meet clean air act legislation, many electric utilities are giving a high priority to controlling capital expenditures at existing generating facilities. Determining the level of capital expenditures which are economically justified is very difficult; units which have higher capacity factors are worth more to the utility. Therefore, the utility can more readily justify higher capital expenditures to improve or maintain reliability and heat rate than on units with lower capacity factors. This paper describes a PC-based computer program (PREPS2) which performs an economic analysis of individual capital projects. The program incorporates tables which describe the worth to the system of making improvements in each unit. This computer program is currently being used by the six Southern Company operating companies to evaluate all production capital projects over $50,000. Approximately 500 projects representing about $300 million are being analyzed each year
Electrolyzed-water generator 'SaniBoy'; Eisei jokinsuik kyokyu sochi 'SaniBoy'
Energy Technology Data Exchange (ETDEWEB)
Inoue, M; Kakiuchi, H; Muto, K [Fuji Electric Co. Ltd., Tokyo (Japan)
2000-03-10
In the food industry, injuries due to food poisoning have been increasing. Especially the mass outbreak of food poisoning by Escherichia coli such as O-157 in 1996 gave warning on the importance of food sanitation management. Public efforts such as the Hazard Analysis and Critical Control Point (HACCP) system have been made to prevent food poisoning. Recently, disinfection made by electrolyzing water with some salt added has attracted attention. Fuji Electric has developed the generator 'SaniBoy' that produces weak alkaline electrolyzed water without wasting water. The environment-friendly 'SaniBoy' will contribute to sanitation in various fields. (author)
Yu, Soonyoung; Unger, Andre J A; Parker, Beth; Kim, Taehee
2012-06-15
In this study, we defined risk capital as the contingency fee or insurance premium that a brownfields redeveloper needs to set aside from the sale of each house in case they need to repurchase it at a later date because the indoor air has been detrimentally affected by subsurface contamination. The likelihood that indoor air concentrations will exceed a regulatory level subject to subsurface heterogeneity and source zone location uncertainty is simulated by a physics-based hydrogeological model using Monte Carlo realizations, yielding the probability of failure. The cost of failure is the future value of the house indexed to the stochastic US National Housing index. The risk capital is essentially the probability of failure times the cost of failure with a surcharge to compensate the developer against hydrogeological and financial uncertainty, with the surcharge acting as safety loading reflecting the developers' level of risk aversion. We review five methodologies taken from the actuarial and financial literature to price the risk capital for a highly stylized brownfield redevelopment project, with each method specifically adapted to accommodate our notion of the probability of failure. The objective of this paper is to develop an actuarially consistent approach for combining the hydrogeological and financial uncertainty into a contingency fee that the brownfields developer should reserve (i.e. the risk capital) in order to hedge their risk exposure during the project. Results indicate that the price of the risk capital is much more sensitive to hydrogeological rather than financial uncertainty. We use the Capital Asset Pricing Model to estimate the risk-adjusted discount rate to depreciate all costs to present value for the brownfield redevelopment project. A key outcome of this work is that the presentation of our risk capital valuation methodology is sufficiently generalized for application to a wide variety of engineering projects. Copyright © 2012 Elsevier
Financing School Capital Projects in New York State.
Howe, Edward T.
1990-01-01
Financing school capital projects in New York State is a responsibility involving both local school districts and the state government. State building aid is provided through an aid ratio and approved expenditure formula. This formula has an equalizing effect among districts by explicitly providing an aid amount inversely proportional to property…
Energy Technology Data Exchange (ETDEWEB)
Mendelsohn, M.; Feldman, D.
2013-04-01
This paper explores the possibility of financing renewable energy projects through raising capital in the public markets. It gives an overview of the size, structure, and benefits of public capital markets, as well as showing how renewable energy projects might take advantage of this source of new funds to lower the cost of electricity.
A church with character and its social capital for projects amongst the poor
Directory of Open Access Journals (Sweden)
Hendrik J.C. Pieterse
2011-11-01
Full Text Available In this article I present a theoretical framework for my argument that specific congregations which are renewed to address the current culture and context, according to the vision presented by Professor T.F.J. Dreyer, are competent to generate projects directed to the poor and humble as social capital. The problem addressed in the article, also phrased as the research question, is: what is the nature and diversity of care in the form of projects as social capital amongst the poor in renewed congregations as it emerges from the sermons on Matthew 25:31−46? The goal of the grounded theory analysis of sermons on this text in a research cycle of selective coding, collected from renewed congregations, will be the identification of projects, types of projects, and their properties. I discuss the idea of local theologies as a motivation of contextual religious action by the congregation in projects amongst the poor, provide a description of poverty in South Africa; show the role of religious faith communities in addressing poverty, followed by conceptualisation of social capital in projects of congregations, and lastly I give a description of two examples of projects thus far discovered in analysed sermons.
Kawamoto, Shigeru; Ikeda, Yuichi; Fukui, Chihiro; Tateshita, Fumihiko
Private finance initiative is a business scheme that materializes social infrastructure and public services by utilizing private-sector resources. In this paper we propose a new method to optimize capital structure, which is the ratio of capital to debt, and senior-sub structure, which is the ratio of senior loan to subordinated loan, for private finance initiative. We make the quantitative analysis of a private finance initiative's project using the proposed method. We analyze trade-off structure between risk and return in the project, and optimize capital structure and senior-sub structure. The method we propose helps to improve financial stability of the project, and to make a fund raising plan that is expected to be reasonable for project sponsor and moneylender.
Hydrogen-oxygen proton-exchange membrane fuel cells and electrolyzers
Baldwin, R.; Pham, M.; Leonida, A.; Mcelroy, J.; Nalette, T.
1990-01-01
A flight experiment is planned for the validation, in a microgravity environment, of several ground-proven simplification features relating to SPE fuel cells and SPE electrolyzers. With a successful experiment, these features can be incorporated into equipment designs for specific extraterrestrial energy storage applications.
Effect of electrolyzed reduced water on malondialdehyde levels and ...
African Journals Online (AJOL)
Purpose: To evaluate the effects of electrolyzed reduced water (ERW) on malondialdehyde (MDA) levels and neutrophil cells in Wistar rats suffering from aggressive periodontitis. Methods: Wistar rats (Rattus norvegicus) were infected with A. actinomycetemcomitans before being divided into a control group and a treatment ...
Green Capital: Student Capital student-led evaluation
Runkle, Q.; Haines, T.; Piper, K.; Leach, S.
2016-01-01
To assess and evaluate the impact of the Green Capital: Student Capital project, the partnership (the University of the West of England, the University of Bristol, the Students’ Union at UWE, and Bristol Students’ Union) worked with NUS to train a team of students from both universities to lead an evaluation process. There were two key aims for the evaluation: \\ud \\ud • To verify the quantitative outputs of the Green Capital: Student Capital project; \\ud • And to make a qualitative assessment...
2011-08-16
... DEPARTMENT OF TRANSPORTATION Federal Transit Administration Major Capital Investment Projects; Guidance on News Starts/Small Starts Policies and Procedures AGENCY: Federal Transit Administration (FTA... Administration (FTA) to publish policy guidance on the New and Small Starts capital project review and evaluation...
Energy Technology Data Exchange (ETDEWEB)
Vachirasricirikul, Sitthidet [Department of Electrical Engineering, Faculty of Engineering, King Mongkut' s Institute of Technology Ladkrabang, Bangkok 10520 (Thailand); Ngamroo, Issarachai; Kaitwanidvilai, Somyot [Center of Excellence for Innovative Energy Systems, King Mongkut' s Institute of Technology Ladkrabang, Bangkok 10520 (Thailand)
2009-09-15
It is well known that the power output of microturbine can be controlled to compensate for load change and alleviate the system frequency fluctuations. Nevertheless, the microturbine may not adequately compensate rapid load change due to its slow dynamic response. Moreover, when the intermittent power generations from wind power and photovoltaic are integrated into the system, they may cause severe frequency fluctuation. In order to study the fast dynamic response, this paper applies electrolyzer system to absorb these power fluctuations and enhance the frequency control effect of microturbine in the microgrid system. The robust coordinated controller of electrolyzer and microturbine for frequency stabilization is designed based on a fixed-structure H{sub {infinity}} loop shaping control. Simulation results exhibit the robustness and stabilizing effects of the proposed coordinated electrolyzer and microturbine controllers against system parameters variation and various operating conditions. (author)
Electrolyzed water and its application in the food industry.
Hricova, D; Stephan, R; Zweifel, C
2008-09-01
Electrolyzed water (EW) is gaining popularity as a sanitizer in the food industries of many countries. By electrolysis, a dilute sodium chloride solution dissociates into acidic electrolyzed water (AEW), which has a pH of 2 to 3, an oxidation-reduction potential of >1,100 mV, and an active chlorine content of 10 to 90 ppm, and basic electrolyzed water (BEW), which has a pH of 10 to 13 and an oxidation-reduction potential of -800 to -900 mV. Vegetative cells of various bacteria in suspension were generally reduced by > 6.0 log CFU/ml when AEW was used. However, AEW is a less effective bactericide on utensils, surfaces, and food products because of factors such as surface type and the presence of organic matter. Reductions of bacteria on surfaces and utensils or vegetables and fruits mainly ranged from about 2.0 to 6.0 or 1.0 to 3.5 orders of magnitude, respectively. Higher reductions were obtained for tomatoes. For chicken carcasses, pork, and fish, reductions ranged from about 0.8 to 3.0, 1.0 to 1.8, and 0.4 to 2.8 orders of magnitude, respectively. Considerable reductions were achieved with AEW on eggs. On some food commodities, treatment with BEW followed by AEW produced higher reductions than did treatment with AEW only. EW technology deserves consideration when discussing industrial sanitization of equipment and decontamination of food products. Nevertheless, decontamination treatments for food products always should be considered part of an integral food safety system. Such treatments cannot replace strict adherence to good manufacturing and hygiene practices.
Tarkhov, P V; Matsenko, A M; Krugliak, A P; Derkach, Zh V
2012-01-01
To reach normal competitiveness in world division of labour, investment projects should stimulate development of human capital towards advance of modern technologies and organizational development of all types of labour. At present time there are only separate calculations of certain types of people's health damage and completely disparate matters of damage compensation exceptionally for chemical contamination effects. The purpose of the paper is development of algorithms to provide hygienic welfare of human capital in investment projects. For this purpose in investments assessment and hygienic examination it is necessary to apply complete and comprehensive (systematic) evaluation of all factors that influence human capital welfare and practical hygienic and research institutions should be focused on systematic elimination of possible dangers and risks of investment projects.
International Nuclear Information System (INIS)
Gonzalez, Daniel; Rojas, Leorlen; Rosales, Jesus; Castro, Landy; Gamez, Abel; Brayner, Carlos; Garcia, Lazaro; Garcia, Carlos; Torre, Raciel de la; Sanchez, Danny
2015-01-01
High temperature electrolysis process coupled to a very high temperature reactor (VHTR) is one of the most promising methods for hydrogen production using a nuclear reactor as the primary heat source. However there are not references in the scientific publications of a test facility that allow to evaluate the efficiency of the process and other physical parameters that has to be taken into consideration for its accurate application in the hydrogen economy as a massive production method. For this lack of experimental facilities, mathematical models are one of the most used tools to study this process and theirs flowsheets, in which the electrolyzer is the most important component because of its complexity and importance in the process. A computational fluid dynamic (CFD) model for the evaluation and optimization of the electrolyzer of a high temperature electrolysis hydrogen production process flowsheet was developed using ANSYS FLUENT®. Electrolyzer's operational and design parameters will be optimized in order to obtain the maximum hydrogen production and the higher efficiency in the module. This optimized model of the electrolyzer will be incorporated to a chemical process simulation (CPS) code to study the overall high temperature flowsheet coupled to a high temperature accelerator driven system (ADS) that offers advantages in the transmutation of the spent fuel. (author)
Energy Technology Data Exchange (ETDEWEB)
Gonzalez, Daniel; Rojas, Leorlen; Rosales, Jesus; Castro, Landy; Gamez, Abel; Brayner, Carlos, E-mail: danielgonro@gmail.com [Universidade Federal de Pernambuco (UFPE), Recife, PE (Brazil); Garcia, Lazaro; Garcia, Carlos; Torre, Raciel de la, E-mail: lgarcia@instec.cu [Instituto Superior de Tecnologias y Ciencias Aplicadas (InSTEC), La Habana (Cuba); Sanchez, Danny [Universidade Estadual de Santa Cruz (UESC), Ilheus, BA (Brazil)
2015-07-01
High temperature electrolysis process coupled to a very high temperature reactor (VHTR) is one of the most promising methods for hydrogen production using a nuclear reactor as the primary heat source. However there are not references in the scientific publications of a test facility that allow to evaluate the efficiency of the process and other physical parameters that has to be taken into consideration for its accurate application in the hydrogen economy as a massive production method. For this lack of experimental facilities, mathematical models are one of the most used tools to study this process and theirs flowsheets, in which the electrolyzer is the most important component because of its complexity and importance in the process. A computational fluid dynamic (CFD) model for the evaluation and optimization of the electrolyzer of a high temperature electrolysis hydrogen production process flowsheet was developed using ANSYS FLUENT®. Electrolyzer's operational and design parameters will be optimized in order to obtain the maximum hydrogen production and the higher efficiency in the module. This optimized model of the electrolyzer will be incorporated to a chemical process simulation (CPS) code to study the overall high temperature flowsheet coupled to a high temperature accelerator driven system (ADS) that offers advantages in the transmutation of the spent fuel. (author)
Directory of Open Access Journals (Sweden)
Ewa Brychcy
2015-01-01
Full Text Available The treatment with acidic electrolyzed water (AEW is a promising disinfection method due to its effectiveness in reducing microbial population. The aim of the study was to evaluate physicochemical properties of chitosan/HPMC films incorporated with lysozyme and acidic electrolyzed water. In the composite films, decreasing film solubility and increasing concentration of sodium chloride solution and prolongation of electrolysis time were observed. Electrolysis process with sodium chloride induces spongy network of film structure. The use of AEW has not changed chemical composition of films which was proved by 1H NMR, MALDI-TOF, and FT-IR spectroscopy. The research confirmed that electrolysis significantly improved thermomechanical properties of the examined films. The contact angle values of the films were quite similar and ranged between 56° and 73°. The increase of salt concentration used in the electrolysis process had an impact on increasing flexibility of samples. Application of electrolyzed water in commonly used food processing systems is possible. Fusion of AEW and biopolymers may provide better integration with coated food product and multidirectional protecting effect.
DEFF Research Database (Denmark)
Skaates, Maria Anne; Tikkanen, Henrikki; Alajoutsijärvi, Kimmo
2002-01-01
This article analyses the marketing activities of three Danish architectural firms in Germany during the 1990s from a perspective that is new to project marketing, in that the Bourdivan concepts of social and cultural capital are applied to the offerings and activities of firms. In architecture...... provide support for our claim that the accumulation of social and cultural capital is crucial to acquiring architectural projects, while also indicating that cultural and social capital are internationally transferable to a limited extent only. This in turn suggests that national construction industries...
International Nuclear Information System (INIS)
Blishen, C.
1997-01-01
This article examines African and Middle East oil and natural gas project financing. Capital markets financing, Ras Laffan's project bonds, capital market issues in Saudi Arabia, the movement toward gas and away from oil, and Islamic opportunities are discussed, African and Middle East oil and gas projects are listed. (UK)
Energy Technology Data Exchange (ETDEWEB)
Smith, W.F.; Molter, T.M. [Proton Energy Systems, Inc., Rocky Hill, CT (United States)
1997-12-31
PROTON Energy Systems` new HOGEN series hydrogen generators are Proton Exchange Membrane (PEM) based water electrolyzers designed to generate 300 to 1000 Standard Cubic Feet Per Hour (SCFH) of high purity hydrogen at pressures up to 400 psi without the use of mechanical compressors. This paper will describe technology evolution leading to the HOGEN, identify system design performance parameters and describe the physical packaging and interfaces of HOGEN systems. PEM electrolyzers have served US and UK Navy and NASA needs for many years in a variety of diverse programs including oxygen generators for life support applications. In the late 1970`s these systems were advocated for bulk hydrogen generation through a series of DOE sponsored program activities. During the military buildup of the 1980`s commercial deployment of PEM hydrogen generators was de-emphasized as priority was given to new Navy and NASA PEM electrolysis systems. PROTON Energy Systems was founded in 1996 with the primary corporate mission of commercializing PEM hydrogen generators. These systems are specifically designed and priced to meet the needs of commercial markets and produced through manufacturing processes tailored to these applications. The HOGEN series generators are the first step along the path to full commercial deployment of PEM electrolyzer products for both industrial and consumer uses. The 300/1000 series are sized to meet the needs of the industrial gases market today and provide a design base that can transition to serve the needs of a decentralized hydrogen infrastructure tomorrow.
National Aeronautics and Space Administration — ElectroChem proposes technology advances in its unique PEM IFF water electrolyzer design to meet the NASA requirement for an electrolyzer that will operate very...
International Nuclear Information System (INIS)
Phadke, Amol
2009-01-01
I analyze the determinants of the stated capital cost of IPPs' power projects which significantly influences their price of power. I show that IPPs face a strong incentive to overstate their capital cost and argue that effective competition or regulatory scrutiny will limit the extent of the same. I analyze the stated capital costs of combined cycle gas turbine (CCGT) IPP projects in eight developing countries which became operational during 1990-2006 and find that the stated capital cost of projects selected without competitive bidding is 44-56% higher than those selected with competitive bidding, even after controlling for the effect of cost differences among projects. The extent to which the stated capital costs of projects selected without competitive bidding are higher compared those selected with competitive bidding, is a lower bound on the extent to which they are overstated. My results indicate the drawbacks associated with a policy of promoting private sector participation without an adequate focus on improving competition or regulation. (author)
Directory of Open Access Journals (Sweden)
Tetsuhiko Maeda
2016-01-01
Full Text Available We propose control methods of a photovoltaic (PV-water electrolyzer (ELY system that generates hydrogen by controlling the number of ELY cells. The advantage of this direct coupling between PV and ELY is that the power loss of DC/DC converter is avoided. In this study, a total of 15 ELY cells are used. In the previous researches, the electrolyzer temperature was constantly controlled with a thermostat. Actually, the electrolyzer temperature is decided by the balance of the electrolysis loss and the heat loss to the outside. Here, the method to control the number of ELY cells was investigated. Maximum Power Point Tracking efficiency of more than 96% was achieved without ELY temperature control. Furthermore we construct a numerical model taking into account of ELY temperature. Using this model, we performed a numerical simulation of 1-year. Experimental data and the simulation results shows the validity of the proposed control method.
Maretno A. Harjoto; John K. Paglia
2011-01-01
The Pepperdine Private Capital Markets Project survey for business owners, administered during the spring of 2010, reveals an increasingly important role of friends and family (Friends/Family) to provide capital for privately-held businesses. Examining business owners perceptions of their sources of capital reveals that, overall, business owners prefer Friends/Family and angel financing as well as asset-based lenders and banks (ABL/Bank). Business owners consider Friends/Family financing to ...
The Development of Nano-Composite Electrodes for Solid Oxide Electrolyzers
Energy Technology Data Exchange (ETDEWEB)
Gorte, Raymond J.; Vohs, John M.
2014-03-26
Solid oxide fuel cells (SOFC) and electrolyzers (SOE) offer an attractive means for converting between electrical and chemical energy. Because they operate at high temperatures and are usually based on electrolytes that are oxygen-ion conducting ceramics, such as yttria-stabilized zirconia (YSZ), they are equally capable of converting between CO and CO2 as between H2 and H2O. When operated in the SOFC mode, they are able to operate on hydrocarbon fuels so long as there are no materials within the anode that can catalyze carbon formation. Compared to other types of electrolyzers, SOE can exhibit the highest efficiencies because the theoretical Nernst potential is lower at high temperatures and because the electrode overpotentials in SOE tend to be much lower. Finally, pure H2 can be produced without an external electrical source by electrolysis of steam at one electrode and oxidation of any fuel at the other electrode through a process known as Natural-Gas Assisted Steam Electrolysis. This final report describes results from studies of novel electrodes for SOE and SOFC prepared by infiltration methods.
Valdez, Thomas I.; Billings, Keith J.; Kisor, Adam; Bennett, William R.; Jakupca, Ian J.; Burke, Kenneth; Hoberecht, Mark A.
2012-01-01
Regenerative fuel cells provide a pathway to energy storage system development that are game changers for NASA missions. The fuel cell/ electrolysis MEA performance requirements 0.92 V/ 1.44 V at 200 mA/cm2 can be met. Fuel Cell MEAs have been incorporated into advanced NFT stacks. Electrolyzer stack development in progress. Fuel Cell MEA performance is a strong function of membrane selection, membrane selection will be driven by durability requirements. Electrolyzer MEA performance is catalysts driven, catalyst selection will be driven by durability requirements. Round Trip Efficiency, based on a cell performance, is approximately 65%.
Governance of project management and capital investments: A case study in Brazil’s mining industry
Directory of Open Access Journals (Sweden)
Jose Antonio Sousa Neto
2012-12-01
Full Text Available The objective of this paper is to present the results of a survey carried out to evaluate the application of corporate governance practices in the management of capital investments and projects by a Brazilian iron ore mining company in 2011. It addresses the main concepts related to projects and corporate governance, as well as the impacts of the Sarbanes-Oxley Act of 2002 on project management. Data were analyzed and processed using descriptive statistics. It was found that the four core disciplines of project governance: portfolio management, project sponsorship, project management, disclosure and reporting, are present in the organization’s management framework, including the application of controls necessary to ensure the accuracy of financial analysis and future cash flows from the successful completion of capital projects. On the other hand, a discrepancy was found in the disproportionate allocation of resources and staff to mega project management compared to small and medium projects which, as a result, are not completed on schedule and within budget. Deficiencies were also found in the attribution of priorities within the organization’s project portfolio.
Directory of Open Access Journals (Sweden)
Liu Fuyong
2017-11-01
Full Text Available It will be a new approach that BIM’s capital project lifecycle management (CPLM applied to the yacht industry. This paper explored the feasibility of applying the principles and rationales of BIM for capital project lifecycle management in luxury yacht design, engineering, fabrication, construction and operation. The paper examined the premises and backbone technology of BIM. It then evaluated leading naval engineering and shipbuilding software applications and their development trends from the functional lens of BIM. To systematically investigate a BIM-based approach for capital project lifecycle management (CPLM in the luxury yacht industry, the paper proposed and outlined an implementation framework. A case study and a student competition use case were discussed to delineate the core constituents and processes of the proposed framework. The case of BIM was reviewed. Through the domestic custom luxury yacht design and prototyping student competition, the application of this framework in educational research is demonstrated and the initial quantitative assessment of the framework is carried out. Conclusions: a BIM-based CPLM implementation framework can help the luxury yacht industry capitalize on the global transformation to an information-centric and data-driven new business paradigm in shipbuilding with integrated design, manufacturing and production.
Shimamura, Yuko; Shinke, Momoka; Hiraishi, Miki; Tsuchiya, Yusuke; Masuda, Shuichi
2015-01-01
Abstract The sterilization effect of a combination treatment with alkaline electrolyzed water (AlEW) and strong acidic electrolyzed water (StAEW) on fresh chicken breasts and beef liver was evaluated. Samples (1, 5, and 10?g) were inoculated with Salmonella Enteritidis NBRC3313, Escherichia coli ATCC 10798, Staphylococcus aureus FDA209P, and S.?aureus C?29 [staphylococcal enterotoxin A (SEA) productive strain] and subjected to a dipping combination treatment (4?C and 25?C for 3?min) with AlEW...
Directory of Open Access Journals (Sweden)
Yuichiro Nakano
Full Text Available Removal of pathogenic organisms from reprocessed surgical instruments is essential to prevent iatrogenic infections. Some bacteria can make persistent biofilms on medical devices. Contamination of non-disposable equipment with prions also represents a serious risk to surgical patients. Efficient disinfection of prions from endoscopes and other instruments such as high-resolution cameras remains problematic because these instruments do not tolerate aggressive chemical or heat treatments. Herein, we develop a new washing system that uses both the alkaline and acidic water produced by electrolysis. Electrolyzed acidic water, containing HCl and HOCl as active substances, has been reported to be an effective disinfectant. A 0.15% NaCl solution was electrolyzed and used immediately to wash bio-contaminated stainless steel model systems with alkaline water (pH 11.9 with sonication, and then with acidic water (pH 2.7 without sonication. Two bacterial species (Staphylococcus aureus and Pseudomonas aeruginosa and a fungus (Candida albicans were effectively removed or inactivated by the washing process. In addition, this process effectively removed or inactivated prions from the stainless steel surfaces. This washing system will be potentially useful for the disinfection of clinical devices such as neuroendoscopes because electrolyzed water is gentle to both patients and equipment and is environmentally sound.
Directory of Open Access Journals (Sweden)
Ting-Ting Cao
Full Text Available Strongly alkaline electrolyzed water (SAEW was prepared by electrolysis of tap water in a laboratory-made water electrolyzer. The pH of stored SAEW was stable for more than one month. The hardness of the electrolyzed water was 30% lower and the Na(+ concentration was 18% higher than those of the tap water. Silkworm cocoon shells were boiled in pH 11.50 SAEW at a ratio of 1∶40∼80 (W/V for 20 min and the sericin layers around the silk fibroin fibers were removed completely. The tensile properties and thermal decomposition temperature of a single filament of silk fibroin obtained by the SAEW method were almost the same as those for the fiber obtained by the neutral soap, and much higher than those for the fiber obtained by Na2CO3 degumming. The results demonstrate that SAEW is an environmentally friendly and pollution-free silk degumming agent that allows highly efficient, low cost recovery of sericin.
Superconductor made by electrolyzed and oxidized water
Liu, Chia-Jyi; Wu, Tsung-Hsien; Hsu, Lin-Li; Wang, Jung-Sheng; Chen, Shu-Yo; Chang, Wei Jen; Lin, Jiunn-Yuan
2006-01-01
By deintercalation of Na+ followed by inserting bilayers of water molecules into the host lattice, the layered cobalt oxide of gamma-Na0.7CoO2 undergoes a topotactic transformation to a layered cobalt oxyhydrate of Na0.35(H2O)1.3CoO2-delta with the c-axis expanded from c = 10.9 anstrom to c = 19.6 anstrom. In this paper, we demonstrate that the superconducting phase of c = 19.6 anstrom can be directly obtained by simply immersing gamma-Na0.7CoO2 powders in electrolyzed/oxidized (EO) water, wh...
Electrolyzed-water generator 'SaniBoy'; Eisei jokinsuik kyokyu sochi 'SaniBoy'
Energy Technology Data Exchange (ETDEWEB)
Inoue, M.; Kakiuchi, H.; Muto, K. [Fuji Electric Co. Ltd., Tokyo (Japan)
2000-03-10
In the food industry, injuries due to food poisoning have been increasing. Especially the mass outbreak of food poisoning by Escherichia coli such as O-157 in 1996 gave warning on the importance of food sanitation management. Public efforts such as the Hazard Analysis and Critical Control Point (HACCP) system have been made to prevent food poisoning. Recently, disinfection made by electrolyzing water with some salt added has attracted attention. Fuji Electric has developed the generator 'SaniBoy' that produces weak alkaline electrolyzed water without wasting water. The environment-friendly 'SaniBoy' will contribute to sanitation in various fields. (author)
Project value creation: The case of a European Capital of Culture
DEFF Research Database (Denmark)
Laursen, Markus
– the European Capital of Culture (ECoC) in Aarhus, Denmark taking place in 2017. Based on engaged scholarship research we explore how value is conceptualized as a subjective construct and how it is created by a wide range of actors and captured by other actors, and we present a model of actor interactions over......In recent years value creation has been reinforced as an important concept in project management research, and in this paper the service-dominant logic is applied to reinforce the shift from a focus on products to value in projects. The setting for the research is a public sector project...
Composite Bipolar Plate for Unitized Fuel Cell/Electrolyzer Systems
Mittelsteadt, Cortney K.; Braff, William
2009-01-01
In a substantial improvement over present alkaline systems, an advanced hybrid bipolar plate for a unitized fuel cell/electrolyzer has been developed. This design, which operates on pure feed streams (H2/O2 and water, respectively) consists of a porous metallic foil filled with a polymer that has very high water transport properties. Combined with a second metallic plate, the pore-filled metallic plates form a bipolar plate with an empty cavity in the center.
The Role of Social and Cultural Capital in the Project Marketing "Milieu"
DEFF Research Database (Denmark)
Skaates, Maria Anne
1999-01-01
The selling of projects is unique in relation to other areas of industrial marketing in three respects: (1) the demand for projects is discontinuous, (2) each individual project is unique e.g. technically and financially as well as (3) complex in terms of the number of actors involved and their m......The selling of projects is unique in relation to other areas of industrial marketing in three respects: (1) the demand for projects is discontinuous, (2) each individual project is unique e.g. technically and financially as well as (3) complex in terms of the number of actors involved...... and their modes of cooperation (Tikkanen, 1998:264). On the basis of these characteristics, the role of social and cultural capital (Bourdieu, 1989) in the marketing of projects is discussed....
International Nuclear Information System (INIS)
Stempien, Jan Pawel; Ni, Meng; Sun, Qiang; Chan, Siew Hwa
2015-01-01
A possible pathway for renewable and sustainable methane production from captured carbon dioxide, water (or seawater) and renewable electricity is proposed and analysed. The proposed system includes Solid Oxide Electrolyzer Cell combined with ex-situ methane synthesis reactor comprising Sabatier, Methanation and Water-Gas Shift reactions. A well validated electrochemical model is used to describe the behaviour of the electrolyzer for steam/carbon dioxide co-electrolysis. The methane synthesis reactor is modelled by a set of equations based on thermodynamic equilibrium reaction constants. Effects of current density, temperature, pressure and initial steam to carbon dioxide ratio on system performance are analysed and their effects are discussed. It is found that a simple, single-pass system without heat recuperation could achieve a maximum overall energy efficiency of 60.87% (based on lower heating value), a maximum electrical energy efficiency of 81.08% (based on lower heating value), and a maximum amount of methane production of ∼1.52 Nm 3 h −1 m −2 of electrolyzer. It is also found that conversion of ∼100% captured carbon dioxide is possible in the proposed system. - Highlights: • Analysis of Solid Oxide Electrolyzer combined with methane synthesis process. • Efficiency of converting water and carbon dioxide into synthetic, renewable methane above 81%. • Effects of process temperature, pressure, gas flux and compositions were analysed. • Methane production of ∼1.52 [Nm 3 h −1 m −2 of electrolyzer]. • Conversion of ∼100% of captured CO 2 is possible
Measuring Social Capital Accumulation in Rural Development
DEFF Research Database (Denmark)
Teilmann, Kasper
2012-01-01
Using a theoretical framework, the study proposes an index that can measure the social capital of local action group (LAG) projects. The index is founded on four indicators: number of ties, bridging social capital, recognition, and diversity, which are aggregated into one social capital index....... The index has been tested in LAG-Djursland, Denmark, and the study further investigates whether the organisational affiliation, project financing, and LAG co-financing can explain the degree of social capital accumulation. Furthermore, the author has tested if there are connections between motivation...... for pursuing development projects similar to those implemented previously and the degree of social capital. The paper concludes that there are indications that projects hosted by municipalities tend to show the most social capital, there is no connection between the amount of project financing and social...
Solar Access to Public Capital (SAPC) Mock Securitization Project
Energy Technology Data Exchange (ETDEWEB)
Mendelsohn, Michael [National Renewable Energy Lab. (NREL), Golden, CO (United States); Lowder, Travis [National Renewable Energy Lab. (NREL), Golden, CO (United States); Rottman, Mary [Rottman-Associates, San Francisco, CA (United States); Borod, Ronald [DLA Piper, London (United Kingdom); Gabig, Nathan [KPMG, Knoxville, TN (United States); Henne, Stephen [KPMG, Knoxville, TN (United States); Caplin, Conrad [KPMG, Knoxville, TN (United States); Notte, Quentin [Mercatus, Arlington, VA (United States)
2015-12-21
In late 2012, the National Renewable Energy Laboratory (NREL) initiated the Solar Access to Public Capital (SAPC) working group. Backed by a three-year funding facility from the U.S. Department of Energy (DOE), NREL set out to organize the solar, legal, banking, capital markets, engineering, and other relevant stakeholder communities in order to open lower-cost debt investment for solar asset deployment. SAPC engaged its members to standardize contracts, develop best practices, and comprehend how the rating agencies perceive solar project portfolios as an investment asset class. Rating agencies opine on the future creditworthiness of debt obligations. Issuers often seek investment-grade ratings from the rating agencies in order to satisfy the desires of their investors. Therefore, for the solar industry to access larger pools of capital at a favorable cost, it is critical to increase market participants' understanding of solar risk parameters. The process provided valuable information to address rating agency perceptions of risk that, without such information, could require costly credit enhancement or higher yields to attract institutional investors. Two different securities were developed--one for a hypothetical residential solar portfolio and one for a hypothetical commercial solar portfolio. Five rating agencies (Standard and Poor's, Moody's, KBRA, Fitch, and DBRS) participated and provided extensive feedback, some through conversations that extended several months. The findings represented in this report are a composite summary of that feedback and do not indicate any specific feedback from any single rating agency.
Invited: A Stability Study of Alkali Doped PBI Membranes for Alkaline Electrolyzer Cells
DEFF Research Database (Denmark)
Jensen, Jens Oluf; Aili, David; Hansen, Martin Kalmar
2014-01-01
Alkaline fuel cells and electrolyzers are attracting increasing interest. This is to a large extent due to the broad selection of catalyst materials not based on resource limited and expensive noble metals. The first fuel cells in practical use were Francis Thomas Bacon’s based on an alkaline...
National Research Council Canada - National Science Library
Geertsema, Cameron
2003-01-01
.... Specifically, this document will focus on how the outcome of capital facility projects are affected by human resources practices, and the management principles and practices of the contractor-owner...
Daigneau, William A.
2003-01-01
Addresses four questions regarding implementation of a long-term capital plan to manage a college's facilities portfolio: When should the projects be implemented? How should the capital improvements be implemented? What will it actually cost in terms of project costs as well as operating costs? Who will implement the plan? (EV)
Study of Seal Glass for Solid Oxide Fuel/Electrolyzer Cells
Mahapatra, Manoj Kumar
2009-01-01
Seal glass is essential and plays a crucial role in solid oxide fuel/electrolyzer cell performance and durability. A seal glass should have a combination of thermal, chemical, mechanical, and electrical properties in order to seal different cell components and stacks and prevent gas leakage. All the desired properties can simultaneously be obtained in a seal glass by suitable compositional design. In this dissertation, SrO-La₂O₃-A₂O₃-B₂O₃3-SiO₂ based seal glasses have been developed and compo...
Poetics and Politics of the European Capital of Culture Project
DEFF Research Database (Denmark)
Ooi, Can-Seng; Håkanson, Lars; LaCava, Laura
2014-01-01
The European Capital of Culture (ECoC) project was designed to promote European identity and integration. Hosting cities have since carried a variety of visions and objectives, ranging from the improvement of material infrastructure and urban revitalization, over the enhancement of cultural life...... to the alleviation of poverty through increasing employment, and the attraction of more tourists. This variety of hopes is repeatedly articulated, as cities compete to become the next ECoC. Being an ECoC is seen to offer invaluable marketing opportunities to improve the city and its image. This paper situates...
Corrosion behaviour of some conventional stainless steels in electrolyzing process
Directory of Open Access Journals (Sweden)
Amal NASSAR
2015-12-01
Full Text Available In this study, attempts were made to increase the amount of hydrogen generated from the water electrolysis process. Some conventional stainless steels (316; 409; 410 and 430 were used as anode and cathode in electrolysis process. Further study was carried out on the corrosion trend in all the investigated metals. It is observed that the electrode material can effect on the amount of hydrogen generate by electrolyzing process and metal composition of the stainless steels effects on the rate of corrosion.
Directory of Open Access Journals (Sweden)
Junwei Zheng
2017-10-01
Full Text Available With the increasing importance of leadership in project-based organizations, innovation is essential for the sustainable development of construction projects. Since few studies have explored the relationship between leadership and innovation in construction projects, this study fills this research gap and makes a significant theoretical contribution to the existing body of literature. Based on a knowledge-rated and resource-based view, this study aims to investigate various effects of different types of leadership on innovation performance in a construction project-based organization. Therefore, a theoretical model was constructed to explore the mediation mechanism and boundary condition of different types of leadership to improve innovation. The theoretical model was validated with empirical data covering project managers and engineers from the project-based organization in China via regression analysis and path analysis. The results show that transformational leadership and transactional leadership have some positively significant effects on knowledge sharing and innovation performance. Meanwhile, knowledge sharing partially mediates the relationship between transformational leadership and/or transactional leadership and innovation performance. Additionally, by considering different levels of social capital, transformational leadership is likely to have a strong positive impact on innovation performance through knowledge sharing. Our findings ensure a better understanding of the role of leadership, knowledge management, and social capital in the innovation process of construction projects. Therefore, project managers should promote a higher stimulation of a leadership behavior, encouraging knowledge management, and establishing the social capital, thus improving the innovation performance in the project-based organizations in construction projects.
International Nuclear Information System (INIS)
Bellanger, G.
1993-01-01
The surface of tritiated Type 304L stainless steel is decontaminated by isotopic exchange with the hydrogen generated in an electrolyzer. This steel had previously been exposed to tritium in a tritium gas facility for several years. The electrolyzer for the decontamination uses a conducting solid polymer electrolyte made of a Nafion membrane. The cathode where the hydrogen is formed is nickel deposited on one of the polymer surfaces. This cathode is placed next to the region of the steel to be decontaminated. The decontamination involves, essentially, the tritiated oxide layers of which the initial radioactivity is ∼ 5 kBq/cm 2 . After treatment for 1 h, the decontamination factor is 8. 9 refs., 16 figs., 2 tabs
Directory of Open Access Journals (Sweden)
Ewa Brychcy
2015-12-01
Full Text Available The article focuses on investigation of the effects of usage of acidic electrolyzed water (AEW with different sodium chloride concentration (0.001%, 0.01%, and 0.1% for the preparation of carrageenan and gelatine hydrosols and hydrogels. To determine physiochemical properties of hydrosols, the pH, oxidation-reduction potential (ORP, available chloride concentration (ACC and rheological parameters such us gelation and flow temperatures were measured. The samples were also characterized using Fourier transform infrared spectroscopy (FT IR and texture profile analysis (TPA. Additionally, the article contains an analysis of antibacterial activity of carrageenan and gelatine hydrosols incorporated with acidic electrolyzed water, against Staphylococcus aureus and Escherichia coli. The FT IR spectra demonstrated that the structure of gelatine and carrageenan are not significantly affected by electrolyzed NaCl solution components. Furthermore, TPA analysis showed that the use of AEW did not cause undesirable changes in hydrogels layer. The microbiological analysis confirmed inhibition of bacterial growth by hydrosols to about 2.10 log reduction. The results showed that the range of reduction of microorganisms depends on the type AEW used. This might be explained by the fact that the lowest pH and the highest ACC values of hydrosols were obtained for samples with the longest period of exposure to electrolysis (10 min and the highest amount of NaCl (0.1% w/v. These results suggest that hydrogels and hydrosols incorporated with AEW may be used for food preservation.
Izumi, Hidemi; Inoue, Ayano
2018-02-02
The extent of sublethally injured coliform bacteria on shredded cabbage, either rinsed or not rinsed with electrolyzed water, was evaluated during storage in air and high CO 2 controlled atmospheres (5%, 10%, and 15%) at 5°C and 10°C using the thin agar layer (TAL) method. Sublethally injured coliform bacteria on nonrinsed shredded cabbage were either absent or they were injured at a 64-65% level when present. Rinsing of shredded cabbage with electrolyzed water containing 25ppm available chlorine reduced the coliform counts by 0.4 to 1.1 log and caused sublethal injury ranging from 42 to 77%. Pantoea ananatis was one of the species injured by chlorine stress. When shredded cabbage, nonrinsed or rinsed with electrolyzed water, was stored in air and high CO 2 atmospheres at 5°C for 7days and 10°C for 5days, coliform counts on TAL plates increased from 3.3-4.5 to 6.5-9.0 log CFU/g during storage, with the increase being greater at 10°C than at 5°C. High CO 2 of 10% and 15% reduced the bacterial growth on shredded cabbage during storage at 5°C. Although injured coliform bacteria were not found on nonrinsed shredded cabbage on the initial day, injured coliforms at a range of 49-84% were detected on samples stored in air and high CO 2 atmospheres at 5°C and 10°C. Injured cells were detected more frequently during storage at both temperatures irrespective of the CO 2 atmosphere when shredded cabbage was rinsed with electrolyzed water. These results indicated that injured coliform bacteria on shredded cabbage, either rinsed or not rinsed with electrolyzed water, exhibited different degrees of injury during storage regardless of the CO 2 atmosphere and temperature tested. Copyright © 2017 Elsevier B.V. All rights reserved.
Yuasa, Motoyuki; Shirayama, Yoshihisa; Osato, Keiichi; Miranda, Cesar; Condore, Julia; Siles, Roxana
2015-06-20
An assessment of self-efficacy and social capital may have the potential to detect an effect of dynamic, complex and comprehensive collective actions in community-based health promotion. In 2003, a healthy village project was launched in Santa Cruz, Bolivia with technical assistance from the Japan International Cooperation Agency (JICA). The originally developed FORSA (Fortalecimiento de Redes de Salud) model accounted for participatory processes in which people could improve their health and well-being through individual behavioral changes and family/community-driven activities. This study aimed to examine the extent of self-efficacy and social capital obtained via project activities by a cross-sectional analysis. We randomly selected 340 subjects from the healthy village project site and 113 subjects from a control area. Both groups were interviewed using the same structured questionnaire. Self-efficacy was assessed with a General Self-Efficacy Scale (GSES), while social capital was measured as the frequency of formal group participation in community meetings during the past three months, perceived social solidarity, and general trust. The study results showed that the participants in the project site had higher self-efficacy and social capital compared to those in the control site. The number of times a subject participated in the health committee activities was positively associated with the self-efficacy scale. Regarding social capital, females and lower-educated people were more likely to have had more frequent participation in formal groups; males and higher-educated participants showed less formal group participation, but more generosity to contribute money for the community. The main perceived benefit of participation in formal group activities varied among individuals. The findings suggest that people in the healthy village project site have higher self-efficacy, especially those with active participation in the health committee activities. To recruit
Energy Technology Data Exchange (ETDEWEB)
Muljadi, Eduard [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Na, Woonki [California State University, Fresno; Leighty, Bill [The Leighty Foundation; Kim, Jonghoon [Chungnam National University
2017-12-14
Self-Excited Induction Generation(SEIG) is very rugged, simple, lightweight, and it is easy and inexpensive to implement, very simple to control, and requires a very little maintenance. In this variable-speed operation, the SEIG needs a power electronics interface to convert from the variable frequency output voltage of the generator to a DC output voltage for battery or other DC applications. In our study, a SEIG is connected to the power electronics interface such as diode rectifier and DC/DC converter and then an electrolyzer is connected as a final DC load for fuel cell applications. An equivalent circuit model for an electrolyzer is utilized for our application. The control and analysis for the proposed system is carried out by using PSCAD and MATLAB software. This study would be useful for designing and control analysis of power interface circuits for SEIG for a variable speed wind turbine generation with fuel cell applications before the actual implementation.
Graphitic Carbon Nitride as a Catalyst Support in Fuel Cells and Electrolyzers
International Nuclear Information System (INIS)
Mansor, Noramalina; Miller, Thomas S.; Dedigama, Ishanka; Jorge, Ana Belen; Jia, Jingjing; Brázdová, Veronika; Mattevi, Cecilia; Gibbs, Chris; Hodgson, David; Shearing, Paul R.; Howard, Christopher A.; Corà, Furio; Shaffer, Milo; Brett, Daniel J.L.
2016-01-01
Highlights: • Graphitic carbon nitride (gCN) describes many materials with different structures. • gCNs can exhibit excellent mechanical, chemical and thermal resistance. • A major obstacle for pure gCN catalyst supports is limited electronic conductivity. • Composite/Hybrid gCN structures show excellent performance as catalyst supports. • gCNs have great potential for use in fuel calls and water electrolyzers. - Abstract: Electrochemical power sources, such as polymer electrolyte membrane fuel cells (PEMFCs), require the use of precious metal catalysts which are deposited as nanoparticles onto supports in order to minimize their mass loading and therefore cost. State-of-the-art/commercial supports are based on forms of carbon black. However, carbon supports present disadvantages including corrosion in the operating fuel cell environment and loss of catalyst activity. Here we review recent work examining the potential of different varieties of graphitic carbon nitride (gCN) as catalyst supports, highlighting their likely benefits, as well as the challenges associated with their implementation. The performance of gCN and hybrid gCN-carbon materials as PEMFC electrodes is discussed, as well as their potential for use in alkaline systems and water electrolyzers. We illustrate the discussion with examples taken from our own recent studies.
International Nuclear Information System (INIS)
Liu, C.-J.; Wu, T.-H.; Hsu, L.-L.; Wang, J.-S.; Chen, S.-Y.
2007-01-01
By deintercalation of Na + followed by inserting bilayers of water molecules into the host lattice, the layered cobalt oxide of γ-Na 0.7 CoO 2 undergoes a topotactic transformation to a layered cobalt oxyhydrate of Na 0.35 (H 2 O) 1.3 CoO 2-δ with the c-axis expanded from c ∼ 10.9 A to c ∼ 19.6 A. In this paper, we demonstrate that the superconducting phase of c ∼ 19.6 A can be directly obtained by simply immersing γ-Na 0.7 CoO 2 powders in electrolyzed/oxidized (EO) water, which is readily available from a commercial electrolyzed water generator. We found that high oxidation-reduction potential of EO water drives the oxidation of the cobalt ions accompanying by the formation of the superconductive c ∼ 19.6 A phase. Our results demonstrate how EO water can be used to oxidize the cobalt ions and hence form superconducting cobalt oxyhydrates in a clean and simple way and may provide an economic and environment-friendly route to oxidize the transition metal of complex metal oxides
Liu, Chia-Jyi; Wu, Tsung-Hsien; Hsu, Lin-Li; Wang, Jung-Sheng; Chen, Shu-Yo
2007-09-01
By deintercalation of Na+ followed by inserting bilayers of water molecules into the host lattice, the layered cobalt oxide of γ-Na0.7CoO2 undergoes a topotactic transformation to a layered cobalt oxyhydrate of Na0.35(H2O)1.3CoO2-δ with the c-axis expanded from c ≈ 10.9 Å to c ≈ 19.6 Å. In this paper, we demonstrate that the superconducting phase of c ≈ 19.6 Å can be directly obtained by simply immersing γ-Na0.7CoO2 powders in electrolyzed/oxidized (EO) water, which is readily available from a commercial electrolyzed water generator. We found that high oxidation-reduction potential of EO water drives the oxidation of the cobalt ions accompanying by the formation of the superconductive c ≈ 19.6 Å phase. Our results demonstrate how EO water can be used to oxidize the cobalt ions and hence form superconducting cobalt oxyhydrates in a clean and simple way and may provide an economic and environment-friendly route to oxidize the transition metal of complex metal oxides.
Energy Technology Data Exchange (ETDEWEB)
Liu, C.-J. [Department of Physics, National Changhua University of Education, Changhua 50007, Taiwan (China)], E-mail: liucj@cc.ncue.edu.tw; Wu, T.-H.; Hsu, L.-L.; Wang, J.-S.; Chen, S.-Y. [Department of Physics, National Changhua University of Education, Changhua 50007, Taiwan (China)
2007-09-01
By deintercalation of Na{sup +} followed by inserting bilayers of water molecules into the host lattice, the layered cobalt oxide of {gamma}-Na{sub 0.7}CoO{sub 2} undergoes a topotactic transformation to a layered cobalt oxyhydrate of Na{sub 0.35}(H{sub 2}O){sub 1.3}CoO{sub 2-{delta}} with the c-axis expanded from c {approx} 10.9 A to c {approx} 19.6 A. In this paper, we demonstrate that the superconducting phase of c {approx} 19.6 A can be directly obtained by simply immersing {gamma}-Na{sub 0.7}CoO{sub 2} powders in electrolyzed/oxidized (EO) water, which is readily available from a commercial electrolyzed water generator. We found that high oxidation-reduction potential of EO water drives the oxidation of the cobalt ions accompanying by the formation of the superconductive c {approx} 19.6 A phase. Our results demonstrate how EO water can be used to oxidize the cobalt ions and hence form superconducting cobalt oxyhydrates in a clean and simple way and may provide an economic and environment-friendly route to oxidize the transition metal of complex metal oxides.
DEFF Research Database (Denmark)
Li, Xing
2004-01-01
This paper aims to offer a framework of interpreting the “evolution” of capitalism that is reaching every corner of the world and has achieved greater legitimacy than at any time in human history. It covers an interdisciplinary discussion on the development of market capitalism that has been...... characterized by a dual process: unanticipated origin (cultural and historical) and anticipated progress (political economy). The point of departure of this paper is that although the advancement of market capitalism is a process of societal development involving historical, cultural and religious causes...... (historical, divine, spiritual, miraculous), the establishment of capitalism is less the result of a force for cultural and economic dynamism than the realization of a political project. In other words, from being an enterprise within defined geographical boundaries to becoming a global project is first...
Competing Hegemonic Projects within China's Variegated Capitalism
DEFF Research Database (Denmark)
Mulvad, Andreas Christian Møller
2014-01-01
This article investigates the variegated model of capitalism emerging in China through a comparative analysis of two contrasting local government approaches developed in Chongqing and Guangdong. From 2007 to 2012, elite politicians and intellectuals articulated the Chongqing and Guangdong models...... of his Guangdong counterpart Wang Yang. Future studies should expand upon the key theoretical insight of the paper: that the emergent variegated capitalism approach to political–economic analysis needs a stronger ideational component....
The Poetics and Politics of the European Capital of Culture Project
DEFF Research Database (Denmark)
Ooi, Can-Seng; Håkanson, Lars; LaCava, Laura
The European Capital of Culture (ECoC) project was designed to promote European identity and integration. Hosting cities have since carried a variety of visions and objectives, ranging from the improvement of material infrastructure and urban revitalization, over the enhancement of cultural life...... to the alleviation of poverty through increasing employment, and the attraction of more tourists. This variety of hopes is repeatedly articulated, as cities compete to become the next ECoC. Being an ECoC is seen to offer invaluable marketing opportunities to improve the city and its image. This paper situates...
Performance systems and social capital
DEFF Research Database (Denmark)
Rasmussen, Grane Mikael Gregaard; Edwards, Kasper
2014-01-01
Performance systems and social capital are considered mutually exclusive. Contemporary studies show that social capital is essential in generating performance improvement. This raises an important question: “How do performance systems and social capital correspond?” This study draws on findings...... from a study on implementation of a performance system in Danish construction. The results show causalities between implementing the performance system and the emergence of social capital in construction projects. Results indicate that performance systems and social capital is not mutually exclusive...
Danilochkina, Nadezhda; Lukmanova, Inessa; Roshchina, Olga; Voytolovskiy, Nikolay
2018-03-01
The article presents the analysis of working capital in the process of financial support of high-rise construction investment projects. The factors influencing the choice of the working capital management model were analyzed, the reasons of the change in the requirement for the values of current assets in the process of construction of high-rise facilities were determined. The author has developed the scheme of interrelation between production, operational and financial activity cycles of enterprises implementing investment projects of unique buildings and structures and made a comparative description of their financing sources.
Capital Improvement Program (CIP) Project Status
Montgomery County of Maryland — This dataset includes pertinent information relating to a capital project’s status administered by the Department of Transportation and the Department of General...
Social opportunity cost of capital: empirical estimates
Energy Technology Data Exchange (ETDEWEB)
Townsend, S.
1978-02-01
This report develops estimates of the social-opportunity cost of public capital. The private and social costs of capital are found to diverge primarily because of the effects of corporate and personal income taxes. Following Harberger, the social-opportunity cost of capital is approximated by a weighted average of the returns to different classes of savers and investors where the weights are the flows of savings or investments in each class multiplied by the relevant elasticity. Estimates of these parameters are obtained and the social-opportunity cost of capital is determined to be in the range of 6.2 to 10.8%, depending upon the parameter values used. Uncertainty is found to affect the social-opportunity cost of capital in two ways. First, some allowance must be made for the chance of failure or at least of not realizing claims of a project's proponents. Second, a particular government project will change the expected variability of the returns to the government's entire portfolio of projects. In the absence of specific information about each project, the use of the economy-wide average default and risk adjustments is suggested. These are included in the empirical estimates reported. International capital markets make available private capital, the price of which is not distorted by the U.S. tax system. The inclusion of foreign sources slightly reduces the social-opportunity cost of capital. 21 references.
Directory of Open Access Journals (Sweden)
Hogeun Park
2017-03-01
Full Text Available The purpose of this paper is to investigate the connection between local development projects and the residents’ social capital in Bohol, The Philippines. From this perspective, we hypothesized that social behaviors of local farmers are influenced by the availability of canal irrigation due to the collective water management required in irrigated societies. By combining the results of the ultimatum game (UG with a household survey on 245 villagers in Bohol, this paper (1 measures the degree of social capital at the individual level and (2 quantifies the effects of irrigation on social capital by controlling household as well as individual characteristics. Moreover, we employed a Spatial Autoregressive model to explore the spatial effects and social contexts of farmers’ behavioral patterns. The empirical results show that the level of measured social behavior is strongly associated with access to community irrigation water and asset holdings. Additionally, increased physical distance between residents leads to a decrease in social capital, or interdependency, among them. The results suggest that community engagement (e.g., irrigation management committee and turnout service association with local development projects would not only improve agricultural productivity but also enhance social relationships among farmers, highlighting its importance.
Michelini, Juan Jose
2013-01-01
The importance of social capital as a resource for rural development, especially in the context of projects involving joint participation of state and civil society, is widely recognized today. This paper analyzes the obstacles confronted by local players--small farmers and government organizations--in the development of an irrigation area through…
National Research Council Canada - National Science Library
Lister, M. J; Andreassen, A; Bales, Shanda; Biddle, J. G; Chang, M. M; McCormick, R; Packard, W. J; Sun, T
2006-01-01
Leveraging venture capital to the advantage of the Naval Services should be viewed as part of the larger project of reforming the acquisition system to permit rapid introduction of new technologies...
Shimamura, Yuko; Shinke, Momoka; Hiraishi, Miki; Tsuchiya, Yusuke; Masuda, Shuichi
2016-05-01
The sterilization effect of a combination treatment with alkaline electrolyzed water (AlEW) and strong acidic electrolyzed water (StAEW) on fresh chicken breasts and beef liver was evaluated. Samples (1, 5, and 10 g) were inoculated with Salmonella Enteritidis NBRC3313, Escherichia coli ATCC 10798, Staphylococcus aureus FDA209P, and S. aureus C-29 [staphylococcal enterotoxin A (SEA) productive strain] and subjected to a dipping combination treatment (4°C and 25°C for 3 min) with AlEW and StAEW. Combination treatment with AlEW and StAEW significantly reduced the bacteria, and reduction of more than 1 log colony-forming units (CFU)/g was achieved. Furthermore, this combination treatment significantly decreased the SEA gene expression level in samples. Some quality variables of the meat samples such as pH, lipid oxidation, color, amino-acid content, texture, and sensory characteristics showed no significant differences between the combination treatment with AlEW and StAEW and the untreated control.
International Nuclear Information System (INIS)
Agbli, Krehi Serge
2012-01-01
A standalone multi-source system based on the coupling of photovoltaic energy and both a PEM electrolyzer and a PEMFC for stationary application is studied. The system gathers photovoltaic array as main energy source, ultra-capacitors and batteries packs in order to smooth respectively fast and medium dynamic by supplying the load or by absorbing photovoltaic source overproduction. Because of the necessity of fuel availability, especially for islanding application like this one, a PEM electrolyzer is integrated to the system for in situ hydrogen production. The relevance of PEMFC system powered by solar hydrogen is pointed out before examining hydrogen storage issue. Energetic and economic analyses have been performed leading to the choice of the pressurised hydrogen storage (in the bottle) rather than hydrogen storage both as liquid and within metal hydride. The main purpose being the proper management of the power flows in order to meet the energy requirement (the load) without power cut, a graphical modelling tool namely Energetic Macroscopic Representation (EMR) is used because of its analysis and control strengths. The EMR ability to describe multi-physics energetic tools is used to develop a PEM electrolyzer model. The multi-domain interaction between the electrical, the electrochemical, the thermodynamic and the fluidic domain is emphasised. Moreover, the temperature variation influence on the electrochemical parameters of the electrolyzer is taken into account by the developed EMR model. Afterwards, thanks to the modular feature of the EMR, the different models of each energetic entity of the system are performed before their assembling leading to the overall system EMR model. By using scale effect allowing extending the energetic tool power range from the experimental validation one to another one, the energetic system sizing is performed according to a household power profile. Then, by the help of the multi-level representation, the maximal control
Directory of Open Access Journals (Sweden)
Mihajlo Firak
2010-01-01
Full Text Available In order to combine a photovoltaic module and an electrolyzer to produce hydrogen from water, an intermediate DC/DC converter can be used to adapt output power features of the module to input power features of the electrolyzer. This can also be done without using electronics, which results in saving as much as 700 USD/kW, as previous investigation has shown. A more sophisticated investigation should be carried out with the aim of improving high system efficiency, resulting in matching the photovoltaic module maximum power point trajectory (the maximum power point path in the U-I plane as a result of solar irradiance change to the operating characteristic of the electrolyzer. This paper presents an analysis of the influences of photovoltaic module electric properties, such as series and parallel resistance and non-ideality factor, on the maximum power point trajectory at different levels of solar irradiance. The possibility of various inclinations (right - vertical - left in relation to an arbitrary chosen operating characteristic of the electrolyzer is also demonstrated. Simulated results are obtained by using Matlab/Simulink simulations of the well known one-diode model. Simulations have been confirmed with experiments on a real photovoltaic module where solar irradiance, solar cell temperature, electric current, and voltage in the circuit with variable ohmic resistance have been measured.
Capital planning for operating theatres based on projecting future theatre requirements.
Sheehan, Jennifer A; Tyler, Peter; Jayasinha, Hirani; Meleady, Kathleen T; Jones, Neill
2011-05-01
During 2006, NSW and ACT Health Departments jointly engaged KPMG to develop an Operating Theatre Requirements' Projection Model and an accompanying planning guideline. A research scan was carried out to identify drivers of surgical demand, theatre capacity and theatre performance, as well as locating existing approaches to modelling operating theatre requirements for planning purposes. The project delivered a Microsoft Excel-based model for projecting future operating theatre requirements, together with an accompanying guideline for use of the model and interpretation of its outputs. It provides a valuable addition to the suite of tools available to Health staff for service and capital planning. The model operates with several limitations, largely due to being data dependent, and the state and completeness of available theatre activity data. However, the operational flexibility built into the model allows users to compensate for these limitations, on a case by case basis, when the user has access to suitable, local data. The design flexibility of the model means that updating the model as improved data become available is not difficult; resulting in revisions being able to be made quickly, and disseminated to users rapidly.
Using the capital markets in Ras Gas
International Nuclear Information System (INIS)
Voge, B.; Penzer, M.
1997-01-01
In December 1996, Ras Laffan Liquefied Natural Gas Company Ltd (Ras Gas) closed a multi-source financing that included an offering of US$1.2bn of bonds. The sponsors of the Ras Gas project overcame a number of obstacles on the road to closing the capital markets offering. This article provides a general overview of capital markets offerings in international project financings and discusses how Ras Gas was able to successfully integrate a capital markets offering into a financing plan which included a commercial bank facility and several export-credit agency facilities. (Author)
An average-based accounting approach to capital asset investments: The case of project finance
Carlo Alberto Magni
2014-01-01
Literature and textbooks on capital budgeting endorse Net Present Value (NPV) and generally treat accounting rates of return as not being reliable tools. This paper shows that accounting numbers can be reconciled with NPV and fruitfully employed in real-life applications. Focusing on project finance transactions, an Average Return On Investment (AROI) is drawn from the pro forma financial statements, obtained as the ratio of aggregate income to aggregate book value. It is shown that such a me...
Real Options in Capital Budgeting. Pricing the Option to Delay and the Option to Abandon a Project
Directory of Open Access Journals (Sweden)
Nicoleta Vintila
2007-07-01
Full Text Available Traditional discounted cash-flows method for assessing projects assumes that investment decision is an irreversible one, which is not correct. Managers can and must reconsider their initial decision as the new information arises during the project life. This is managerial flexibility and it creates strategic value for a project, only if management takes advantage of the opportunities associated with an analyzed project. Real options represent a new approach in capital budgeting, using the theory of pricing financial options for investments in real assets. In this paper, we emphasize the characteristics and valuation methodologies of real options. The objective in the last section is pricing the option to delay and the option to abandon a project in construction materials field.
Measuring Social Capital Accumulation in Rural Development
Teilmann, Kasper
2012-01-01
Using a theoretical framework, the study proposes an index that can measure the social capital of local action group (LAG) projects. The index is founded on four indicators: number of ties, bridging social capital, recognition, and diversity, which are aggregated into one social capital index. The index has been tested in LAG-Djursland, Denmark,…
Barwe, Stefan; Masa, Justus; Andronescu, Corina; Mei, Bastian; Schuhmann, Wolfgang; Ventosa, Edgar
2017-07-10
Engineering stable electrodes using highly active catalyst nanopowders for electrochemical water splitting remains a challenge. We report an innovative and general approach for attaining highly stable catalyst films with self-healing capability based on the in situ self-assembly of catalyst particles during electrolysis. The catalyst particles are added to the electrolyte forming a suspension that is pumped through the electrolyzer. Particles with negatively charged surfaces stick onto the anode, while particles with positively charged surfaces stick to the cathode. The self-assembled catalyst films have self-healing properties as long as sufficient catalyst particles are present in the electrolyte. The proof-of-concept was demonstrated in a non-zero gap alkaline electrolyzer using NiFe-LDH and Ni x B catalyst nanopowders for anode and cathode, respectively. Steady cell voltages were maintained for at least three weeks during continuous electrolysis at 50-100 mA cm -2 . © 2017 Wiley-VCH Verlag GmbH & Co. KGaA, Weinheim.
Electronic Capitalization Asset Form -
Department of Transportation — National Automated Capitalization Authorization Form used by ATO Engineering Services, Logistics, Accounting for the purpose of identifying and capturing FAA project...
Capital financing in prospective payment.
Oszustowicz, R J; Dreachslin, J L
1984-03-01
In the era of prospective payment, arranging financing for hospital capital projects is expected to become even more complicated than under cost-based reimbursement systems. This article outlines the information needed for a bond issue in the prospective payment environment, defines the roles and duties of several external persons and organizations involved with planning a major capital financing, and provides an overview of the entire process. This article assumes for illustrative purposes that a tax-exempt bond issue is going to be used to finance a facility expansion. This method was chosen since over 70% of all major capital financing for hospitals use the tax-exempt bond as the principal vehicle for attracting the necessary debt to finance a major construction project. The tax-exempt bond issue also requires the most detail in documentation and legal provisions.
Net Operating Working Capital, Capital Budgeting, and Cash Budgets: A Teaching Example
Tuner, James A.
2016-01-01
Many introductory finance texts present information on the capital budgeting process, including estimation of project cash flows. Typically, estimation of project cash flows begins with a calculation of net income. Getting from net income to cash flows requires accounting for non-cash items such as depreciation. Also important is the effect of…
Fisher's Rate and Aggregate Capital Needs in Investment Decisions
Mária Illés
2014-01-01
Fisher’s rate means the interest rate where the net present values of two mutually exclusive projects become equal. The paper examines the background and the circumstances of conformation of Fisher’s rate in connection with the aggregate capital needs. Aggregate capital needs is a new conception and gives a new viewpoint to investment project decisions. The paper defines the special content of aggregate capital needs, and compiles an index number for it. The analysis widens knowledge regardin...
Towards long-term stable solid state electrolyzers with infiltrated catalysts
DEFF Research Database (Denmark)
Ovtar, Simona; Chen, Ming; Brodersen, Karen
conventional power plants or fuel cells. Key challenges for a successful commercialization of solid oxide electrolyzers are up scale it, reduce cost and improve durability. Therefore, large efforts are allocated to improve cell performance. As a relatively novel method to introduce electro......Renewable energy sources like wind and solar are widely considered as the key technologies to cover our growing demands. However, the fluctuating nature of these sources requires a flexible energy system and storage technologies to ensure that energy supply can be covered in a stable and affordable......-catalysts into the porous structure of the electrodes, infiltration has shown very efficient. Solid oxide cells with infiltrated electrodes have been reported to show improved performance compared to conventional cells [1]. In this study, the development of infiltration procedures to improve the stability and catalytic...
Building social capital as a route to social inclusion?
DEFF Research Database (Denmark)
Arp Fallov, Mia
This paper investigates the instrumentalization of the concept of social capital in neighbourhood regeneration policies. The paper builds on material from a research project comparing neighbourhood regeneration policies in Denmark and England, and points to limitations to social capital...... to the capacities of inclusion. The first section of the paper discusses how active resident participation and the building of social capital in regeneration projects are constructed as legitimate and just means of achieving social inclusion. Furthermore, how slippages between social capital at different levels......; individual, communal and governmental becomes instrumental in these constructions. The second section of the paper discusses the national variations in relation to this route to inclusion and the different understandings of the relations between social capital and community cohesion in England and Denmark...
Energy Technology Data Exchange (ETDEWEB)
Duron-Torres, S.M.; Villagrana-Munoz, L.E.; Garcia-Saldivar, V.M.; Escalante-Garcia, I.L. [Univ. Autonoma de Zacatecas, Zacatecas (Mexico). Unidad Academica de Ciencias Quimicas; Arriaga-Hurtado, L.G. [Centro de Investigacion y Desarrollo Tecnologico en Electroquimica, Pedro Escobedo (Mexico)
2010-07-15
The current cost of obtaining hydrogen from electrolyzers is higher than the cost of producing fossil fuels. However, with advances in technology and greater use of alternative energy sources, the cost of electrolytic hydrogen production may decrease to the point of being competitive. This study calculated how much hydrogen can be produced in a typical polymer exchange membrane (PEM) electrolyzer. Local solar irradiation measurements were carried out from November 2007 to April 2008 at the Campus Siglo 21 Solarimetric Station at Zacatecas University in Mexico. The mean irradiation measured was 6.6 kW-h per m{sup 2}. Based on the solar data obtained at the station, the hydrogen produced by a typical solar-hydrogen (SH) system was evaluated. The study showed that an important quantity of hydrogen as an energy vector could be obtained from solar radiation. April was determined to be the month of maximum hydrogen production. The lowest hydrogen production was in November. The data obtained during this study can be used to evaluate the solar renewable energy resource expressed as hydrogen production. 19 refs., 1 tab., 4 figs.
International Nuclear Information System (INIS)
Chattopadhyay, Jayeeta; Srivastava, Rohit; Srivastava, Prem Kumar
2013-01-01
This work presents the electrocatalytic evaluation of Ni/TiO_2 hollow sphere materials in PEM water electrolysis cell. All the electrocatalysts have shown remarkably enhanced electrocatalytic properties in comparison with their performance in aqueous electrolysis cell. According to cyclic voltammetric results, 0.36 A cm"−"2 peak current density has been exhibited in hydrogen evolution reaction (HER) from 30 wt% Ni/TiO_2 electrocatalyst. 15 wt% Ni-doped titania sample has shown the best result in oxygen evolution reaction (OER) with the anodic peak current density of 0.3 A cm"−"2. In the anodic polarization curves, the performance of 15 wt% Ni/TiO_2 hollow sphere electrocatalyst was evaluated up to 140 mA cm"−"2 at comparatively lower over-potential value. 20 wt% Ni/TiO_2 hollow sphere electrocatalyst has also shown electrochemical stability in PEM water electrolyzer for 48 h long analysis. The comparative electrocatalytic behavior of hollow spherical materials with non-sphericals is also presented, which clearly shows the influence of hollow spherical structure in greater electrocatalytic activity of the materials. The physical characterization of all the hollow spherical materials is presented in this work, which has confirmed their better electrochemical behavior in PEM water electrolyzer
McCue, Michael J
2011-01-01
Prior literature provides only a descriptive view of the types and numbers of capital expenditures made by hospitals. This study conducted an empirical analysis to assess simultaneously what market, organizational, and financial factors relate to the number of capital projects as well as the specific types: medical equipment, expansion, and maintenance projects. Sampling California hospital capital expenditure data from 2002 to 2007, this study aggregated the number of capital projects by each type of capital investment decision: medical equipment, expansion, and maintenance/renovation per hospital. Using ordinary least squares regression, this study evaluated the association of these factors with these types of capital investment projects. This study found that hospitals capturing a greater share of the market, maintaining high levels of liquidity, and operating with more than 350 beds invested in a greater number of capital projects per hospital as well as medical equipment and expansionary projects per hospital. Within the state of California, the demand for health care services within a hospital market as well as cash and investment reserves were key drivers in the hospital CEOs and boards' decision to increase their capital purchases. The types of purchases included capital outlays related to medical equipment, such as CT scanners, MRIs, and surgical systems, and revenue-generating expansionary projects, such as new bed towers, hospitals wings, operating and emergency rooms, and replacement hospitals from 2002 to 2007.
DEFF Research Database (Denmark)
Zielke, Philipp; Høgh, Jens Valdemar Thorvald; Chen, Ming
2016-01-01
that energy services can be covered in a stable and affordable manner. One promising solution is the synthetic fuel production by solid oxide electrolyzers. Electricity can be stored in a power-to-gas process during times of excess electricity production and then further converted to liquid fuels for e.......g. transportation, or at high demands converted back to electricity by either conventional power plants or fuel cells. One of today’s biggest hurdles for a successful commercialization of solid oxide electrolyzers is the stack’s lifetime with current industry targets in the order of five to ten years. To identify......In the current efforts of moving energy production to renewable sources, wind and solar energy are widely considered as the key technologies to cover our growing demands. However, the fluctuating nature of these sources requires a flexible energy system and storage technologies to ensure...
International Nuclear Information System (INIS)
Obara, Shin'ya; Watanabe, Seizi; Rengarajan, Balaji
2011-01-01
A completely energy-independent microgrid (green microgrid) was examined in this work with the aims of abating greenhouse gas emissions by spreading the use of green energy, providing energy backup systems for disaster, and increasing the energy utilization efficiency with the use of exhaust heat. This paper analyzed the energy supply to six houses in a cold region. The green microgrid consisted of photovoltaics, water electrolyzers, proton-exchange membrane fuel cells (PEFCs), and heat pumps. To investigate the operation method and the capacity of each piece of equipment in the arrangement, a distributed system with two or more sets of equipment and a central system with one set of equipment were analyzed by a genetic algorithm. By introducing the prior energy need pattern of a cold region into the proposed system, the operation method and equipment capacity based on the power and heat balance were clarified. By introducing the partial load performance of a water electrolyzer and a PEFC into the analysis program, the operation method of each system was investigated. It was found that the area of a solar cell of a distributed system could be reduced by 12% as compared to a central system. -- Highlights: → A completely energy-independent microgrid (green microgrid) was planned. → The green microgrid consisted of photovoltaics, water electrolyzers, PEM-FCs, and heat pumps. → Operation of a concentrated system and a distributed system. → Investigate of the operation method and the capacity of each piece of equipment.
Moore, Roscoe M., III
2002-01-01
provided by an institution. Those institutions tend to be Banks, Pension Funds, Insurance Funds, Corporations, and other incorporated entities that are obligated to earn a return on their invested capital. These institutions invest in a venture capital firm for the sole purpose of getting their money back with a healthy profit - within a set period of time. The venture capital firm is responsible for investing in and managing companies whose risk and return are higher than other less risky classes of investment. The venture capital firm's primary skill is its ability to manage the high risk of its venture investments while maintaining the high return potential of its venture investments. to businesses for the purpose of providing the above-mentioned Institutions a substantial return on their invested capital. Institutional Venture Capital for the Space Industry cannot be provided to projects or companies whose philosophy or intention is not to increase shareholder equity value within a set time period. efficiently when tied up in companies that intend to spend billions of dollars before the first dollar of revenue is generated. If 2 billion dollars of venture capital is invested in the equity of a Space Company for a minority equity position, then that Space Company must build that minority shareholder's equity value to a minimum investment return of 4 to 8 billion dollars. There are not many start-up companies that are able to reach public market equity valuations in the tens of billions of dollars within reasonable time horizons. Foundations, Manufacturers, and Strategic Investors can invest in projects that cannot realistically provide a substantial return on their equity to their investors within a reasonable period (5-7 years) of time. Venture Capitalists have to make money. Venture capitalists have made money on Satellite Television, Satellite Radio, Fixed Satellite Services, and other businesses. Venture capitalists have not made money on stand
Capital-cost behavior: is nuclear different
International Nuclear Information System (INIS)
Lotze, C.D.; Riordan, B.J.
1978-01-01
The capital costs of coal-fired and nuclear power plants are found to be comparable when costs for pollution control are included. Trends in capital costs reveal a similar rate gain that retains the same economic balance. Graphs of selected cost indices are used to show that the rapid increase in direct construction costs is not unique to nuclear plants, those of hydroelectric plants as well as coal-fired having the same pattern. Comparisons of indirect capital costs, based on analyses of direct capital and total capital costs, show estimated average growth rates of total costs to be 14% for coal and 13.6% for nuclear, while direct cost growth rates are 10.2% and 10.4%. The economics of market competition can be expected to push alternative energy source projects into balance
International Nuclear Information System (INIS)
Riedel, H.J.; Ullrich, W.
1988-01-01
In order to define a representative waste composition for the experimental tests, the different streams of tritiated waste water which are expected to arise from the operation of the Wackersdorf reprocessing plant were identified as well as their chemical and radiochemical composition. Results obtained by pretreatment applying distillation and the decontamination factors thus achieved will be presented, as well as data concerning the effects of the remaining contaminations in the distillate on the solid-polymer electrode and the generated hydrogen and oxygen flow of the electrolyser used operating in a neutral solution. Additional investigations were performed using a TELEDYNE electrolyzer which operates in an alkaline solution
DEFF Research Database (Denmark)
Hull Kristensen, Peer
2013-01-01
Boltanski and Chiapello identify a new mode of organizing capitalism which they identify in terms of project work and mobility. They argue that the problem for this mode of organizing is the inequalities which it sets up between those who are mobile and those who are immobile. The rewards in term...
Analyzing Equity Capital Programs of Banks for Cooperatives
Ismail Ahmad; Ken D. Duft; Ron C. Mittelhammer
1986-01-01
Characteristics of Banks for Cooperatives term loan and equity capital programs contribute toward complex intermittent exchanges of positive and negative cash flows between the cooperative lender and borrower and complicate the analysis of the net present value and effective interest of the financing project. A multiperiod linear program was developed to analyze the effect of variations in equity capital program components on the present value of the financing project. Furthermore, the concep...
Rahman, S M E; Jin, Yong-Guo; Oh, Deog-Hwan
2011-05-01
The objective of this study was to determine the synergistic effect of alkaline electrolyzed water and citric acid with mild heat against background and pathogenic microorganisms on carrots. Shredded carrots were inoculated with approximately 6-7 log CFU/g of Escherichia coli O157:H7 (932, and 933) and Listeria monocytogenes (ATCC 19116, and 19111) and then dip treated with alkaline electrolyzed water (AlEW), acidic electrolyzed water (AcEW), 100 ppm sodium hypochlorite (NaOCl), deionized water (DaIW), or 1% citric acid (CA) alone or with combinations of AlEW and 1% CA (AlEW + CA). The populations of spoilage bacteria on the carrots were investigated after various exposure times (1, 3, and 5 min) and treatment at different dipping temperatures (1, 20, 40, and 50 °C) and then optimal condition (3 min at 50 °C) was applied against foodborne pathogens on the carrots. When compared to the untreated control, treatment AcEW most effectively reduced the numbers of total bacteria, yeast and fungi, followed by AlEW and 100 ppm NaOCl. Exposure to all treatments for 3 min significantly reduced the numbers of total bacteria, yeast and fungi on the carrots. As the dipping temperature increased from 1 °C to 50 °C, the reductions of total bacteria, yeast and fungi increased significantly from 0.22 to 2.67 log CFU/g during the wash treatment (p ≤ 0.05). The combined 1% citric acid and AlEW treatment at 50 °C showed a reduction of the total bacterial count and the yeast and fungi of around 3.7 log CFU/g, as well as effective reduction of L. monocytogenes (3.97 log CFU/g), and E. Coli O157:H7 (4 log CFU/g). Combinations of alkaline electrolyzed water and citric acid better maintained the sensory and microbial quality of the fresh-cut carrots and enhanced the overall shelf-life of the produce. Copyright © 2010 Elsevier Ltd. All rights reserved.
Energy Technology Data Exchange (ETDEWEB)
Chattopadhyay, Jayeeta; Srivastava, Rohit; Srivastava, Prem Kumar [Birla Institute of Technology, Jharkhand (India)
2013-08-15
This work presents the electrocatalytic evaluation of Ni/TiO{sub 2} hollow sphere materials in PEM water electrolysis cell. All the electrocatalysts have shown remarkably enhanced electrocatalytic properties in comparison with their performance in aqueous electrolysis cell. According to cyclic voltammetric results, 0.36 A cm{sup −2} peak current density has been exhibited in hydrogen evolution reaction (HER) from 30 wt% Ni/TiO{sub 2} electrocatalyst. 15 wt% Ni-doped titania sample has shown the best result in oxygen evolution reaction (OER) with the anodic peak current density of 0.3 A cm{sup −2}. In the anodic polarization curves, the performance of 15 wt% Ni/TiO{sub 2} hollow sphere electrocatalyst was evaluated up to 140 mA cm{sup −2} at comparatively lower over-potential value. 20 wt% Ni/TiO{sub 2} hollow sphere electrocatalyst has also shown electrochemical stability in PEM water electrolyzer for 48 h long analysis. The comparative electrocatalytic behavior of hollow spherical materials with non-sphericals is also presented, which clearly shows the influence of hollow spherical structure in greater electrocatalytic activity of the materials. The physical characterization of all the hollow spherical materials is presented in this work, which has confirmed their better electrochemical behavior in PEM water electrolyzer.
Electrochemical oxidation of cyanide on 3D Ti-RuO2 anode using a filter-press electrolyzer.
Pérez, Tzayam; López, Rosa L; Nava, José L; Lázaro, Isabel; Velasco, Guillermo; Cruz, Roel; Rodríguez, Israel
2017-06-01
The novelty of this communication lies in the use of a Ti-RuO 2 anode which has not been tested for the oxidation of free cyanide in alkaline media at concentrations similar to those found in wastewater from the Merrill Crowe process (100 mg L -1 KCN and pH 11), which is typically used for the recovery of gold and silver. The anode was prepared by the Pechini method and characterized by SEM. Linear sweep voltammetries on a Ti-RuO 2 rotating disk electrode (RDE) confirmed that cyanide is oxidized at 0.45 cyanide was investigated on Ti-RuO 2 meshes fitted into a filter-press electrolyzer. Bulk electrolyzes were performed at constant potentials of 0.85 V and 0.95 V and at different mean linear flow rates ranging between 1.2 and 4.9 cm s -1 . The bulk anodic oxidation of cyanide at 0.85 V and 3.7 cm s -1 achieved a degradation of 94%, with current efficiencies of 38% and an energy consumption of 24.6 kWh m -3 . Moreover, the degradation sequence of cyanide was also examined by HPLC. Copyright © 2017 Elsevier Ltd. All rights reserved.
38 CFR 61.16 - Matching funds for capital grants.
2010-07-01
... capital grants. 61.16 Section 61.16 Pensions, Bonuses, and Veterans' Relief DEPARTMENT OF VETERANS AFFAIRS (CONTINUED) VA HOMELESS PROVIDERS GRANT AND PER DIEM PROGRAM § 61.16 Matching funds for capital grants. The amount of a capital grant may not exceed 65 percent of the total cost of the project for which the...
Sen, Rijurekha; Quercia, Daniele
2018-01-01
In its most basic form, the spatial capital of a neighborhood entails that most aspects of daily life are located close at hand. Urban planning researchers have widely recognized its importance, not least because it can be transformed in other forms of capital such as economical capital (e.g., house prices, retail sales) and social capital (e.g., neighborhood cohesion). Researchers have already studied spatial capital from official city data. Their work led to important planning decisions, yet it also relied on data that is costly to create and update, and produced metrics that are difficult to compare across cities. By contrast, we propose to measure spatial capital in cheap and standardized ways around the world. Hence the name of our project "World Wide Spatial Capital". Our measures are cheap as they rely on the most basic information about a city that is currently available on the Web (i.e., which amenities are available and where). They are also standardized because they can be applied in any city in the five continents (as opposed to previous metrics that were mainly applied in USA and UK). We show that, upon these metrics, one could produce insights at the core of the urban planning discipline: which areas would benefit the most from urban interventions; how to inform planning depending on whether a city's activity is mono- or poly-centric; how different cities fare against each other; and how spatial capital correlates with other urban characteristics such as mobility patterns and road network structure.
Directory of Open Access Journals (Sweden)
Rijurekha Sen
Full Text Available In its most basic form, the spatial capital of a neighborhood entails that most aspects of daily life are located close at hand. Urban planning researchers have widely recognized its importance, not least because it can be transformed in other forms of capital such as economical capital (e.g., house prices, retail sales and social capital (e.g., neighborhood cohesion. Researchers have already studied spatial capital from official city data. Their work led to important planning decisions, yet it also relied on data that is costly to create and update, and produced metrics that are difficult to compare across cities. By contrast, we propose to measure spatial capital in cheap and standardized ways around the world. Hence the name of our project "World Wide Spatial Capital". Our measures are cheap as they rely on the most basic information about a city that is currently available on the Web (i.e., which amenities are available and where. They are also standardized because they can be applied in any city in the five continents (as opposed to previous metrics that were mainly applied in USA and UK. We show that, upon these metrics, one could produce insights at the core of the urban planning discipline: which areas would benefit the most from urban interventions; how to inform planning depending on whether a city's activity is mono- or poly-centric; how different cities fare against each other; and how spatial capital correlates with other urban characteristics such as mobility patterns and road network structure.
Stejzygier, Aneta
2009-01-01
The paper presents the social capital as the essential element of success of the Reggio Emilia preschools known for their unique approach to the early childhood education. The collaborative effort is introduced through examples of the currently ongoing "Reggio Narrates" project of Reggio preschools, the "Dialogue with the…
EFFECTIVENESS OF CAPITAL MARKET DERIVATIVES IN HOUSING DELIVERY OF NIGERIA EMERGING MARKET
Directory of Open Access Journals (Sweden)
Bernard Adjekophori
2016-07-01
Full Text Available The capital market is unarguably the most robust institution in any economy notable for mobilizing the necessary fund for financing long-term productive project. It controls relatively large amounts of capital and represent the largest institutional providing long-term credits for capital project like real estate that requires huge capital outlay. This study therefore, attempts an investigation into the effectiveness of capital market derivatives in housing delivery in Lagos. An empirical survey research was conducted in Lagos, using a random sampling technique with a structured questionnaire to collect data from 147 respondents comprising 89 stockbrokers and 58 real estate developers in Lagos mega-city. Data collected were analyzed with SPSS using descriptive and inferential statistics. The result revealed that 56.7% of the observed variations in housing delivery (R2= 0.567; p< 0.05 is explained by capital market derivatives, which suggests that, proper utilization of capital market derivatives will enhance and improve housing delivery in Nigeria. However, this is not been adequately used by developers of real estate projects in the study. Thus, the study recommends amongst other remedial steps that a synergetic effort should be created between the capital market and real estate developers which will enhance effective housing delivery, the development of people and the Nation.
Capital budgeting practices in Indian companies
Directory of Open Access Journals (Sweden)
Roopali Batra
2017-03-01
Full Text Available The volatility of the global economy, changing business practices, and academic developments have created a need to re-examine Indian corporate capital budgeting practices. Our research is based on a sample of 77 Indian companies listed on the Bombay Stock Exchange. Results reveal that corporate practitioners largely follow the capital budgeting practices proposed by academic theory. Discounted cash flow techniques of net present value and internal rate of return and risk adjusted sensitivity analysis are most popular. Weighted average cost of capital as cost of capital is most favoured. Nevertheless, the theory-practice gap remains in adoption of specialised techniques of real options, modified internal rate of return (MIRR, and simulation. Non-financial criteria are also given due consideration in project selection.
Access to capital and capital structure of the firm
Czech Academy of Sciences Publication Activity Database
Shamshur, Anastasiya
-, č. 429 (2010), s. 1-36 ISSN 1211-3298 R&D Projects: GA ČR GA402/09/1595; GA MŠk LC542 Grant - others:MŠk(CZ) SVV-2010-261801 Institutional research plan: CEZ:MSM0021620846 Keywords : capital structure * financing decisions * credit constraints * Eastern Europe Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp429.pdf
Empirical Analysis of the Impact of Capital Market on Economic ...
African Journals Online (AJOL)
The Nigerian capital market had not been performing effectively in terms of providing long term capital needed by firms to finance capital projects. This cast doubts on its ability to meaningfully enhance the growth of the economy against the apriori expectations amidst different reforms that were introduced by the government ...
HUMAN CAPITAL FLIGHT - ROMANIA’S CASE
Directory of Open Access Journals (Sweden)
Magdalena VELCIU
2016-12-01
Full Text Available Knowledge, qualifications of workforce and human capital became key factors for progress. Human capital flight transfers not only people but work, knowledge, tangible and intangible capital and development potential. In this article, trying to answer whether Romania is a source country for emigration of highly skilled or well-educated individuals (ie human capital flight I flew over those two dimensions that have traditionally characterized human capital flight namely: shrinking work resource and lossing high educated peoples. Therefore, Romania was faced with decreasing the number of resident population due to the evolution of demographic phenomena with negative projections and declining number of working age population and young educated and highly skilled workers and professionals. This will generate complex problems for economy, labour market, difficulty in finding highly skilled workers, talent shortages etc so it’s critical to monitor the labour migration or brain drain phenomenon.
Adjustment costs in a two-capital growth model
Czech Academy of Sciences Publication Activity Database
Duczynski, Petr
2002-01-01
Roč. 26, č. 5 (2002), s. 837-850 ISSN 0165-1889 R&D Projects: GA AV ČR KSK9058117 Institutional research plan: CEZ:AV0Z7085904 Keywords : adjustment costs * capital mobility * convergence * human capital Subject RIV: AH - Economics Impact factor: 0.738, year: 2002
Allocating capital systemwide. Who gets how much and why.
Albertina, R M; Bakewell, T F
1989-05-01
The maturing of multi-institutional healthcare systems has created a need for systemwide approaches to managing investment in capital expenditures. Historically, hospitals have allocated capital using traditional capital budgeting techniques, including discounted cash flow, net present value, and internal rate of return methodologies. Now systems can use a multifactored model to allocate capital among member hospitals. This approach uses historical and projected financial and statistical information to quantify the risks member hospitals face. At the system level, capital allocation decisions should start with the strategic and financial planning processes. Catholic systems face an additional caveat: The system's mission statement drives the planning processes. Conceptually, the capital allocation plan is an attempt to value each hospital as a going, or viable, concern. From this perspective, value is understood as a function of expected return, the certainty of the return, and the return offered by similar investments in other hospital markets. Despite the many determinants of business and financial risk, much of the variance in asset market value can be explained through five assessment criteria: market demographics, position within the market, historical and projected financial performance, historical utilization, and third-party reimbursement mix.
People, partnerships and human progress: building community capital.
Hancock, T
2001-09-01
The Victorian-era journal The Sanitarian used on its masthead the slogan 'A nation's health is a nation's wealth'. Today, we are re-discovering that wisdom, recognizing that health is indeed a form of wealth. Moreover, we are beginning to understand that wealth is not merely our economic capital, but includes three other forms of capital--social, natural and human capital. Health is one key element of human capital. A healthy community is one that has high levels of social, ecological, human and economic 'capital', the combination of which may be thought of as 'community capital'. The challenge for communities in the 21st century will be to increase all four forms of capital simultaneously. This means working with suitable partners in the private sector, making human development the central purpose of governance, and more closely integrating social, environmental and economic policy. Community gardens, sustainable transportation systems and energy conservation programmes in community housing projects are some of the ways in which we can build community capital.
provider venture capital funds: investing in innovation.
Potter, Mary Jo; Wesslund, Rick
2016-05-01
As health systems continue to embrace disruptive innovation, they are increasingly likely to consider making a move into venture capital. Working in venture capital can benefit a health system in several ways, including: Allowing it to operate outside of bureaucracy and align projects with its core values. Encouraging innovation within the organization. Enabling it to respond quickly to changes in the market.
Feasibility analysis of a hydrogen backup power system for Russian telecom market
Borzenko, V. I.; Dunikov, D. O.
2017-11-01
We performed feasibility analysis of 10 kW hydrogen backup power system (H2BS) consisting of a water electrolyzer, a metal hydride hydrogen storage and a fuel cell. Capital investments in H2BS are mostly determined by the costs of the PEM electrolyzer, the fuel cell and solid state hydrogen storage materials, for single unit or small series manufacture the cost of AB5-type intermetallic compound can reach 50% of total system cost. Today the capital investments in H2BS are 3 times higher than in conventional lead-acid system of the same capacity. Wide distribution of fuel cell hydrogen vehicles, development of hydrogen infrastructure, and mass production of hydrogen power systems will for sure lower capital investments in fuel cell backup power. Operational expenditures for H2BS is only 15% from the expenditures for lead acid systems, and after 4-5 years of exploitation the total cost of ownership will become lower than for batteries.
76 FR 17736 - Major Capital Investment Program-New Starts
2011-03-30
... DEPARTMENT OF TRANSPORTATION Federal Transit Administration Major Capital Investment Program--New... unallocated Major Capital Investment (New Starts) program funds. The funds accelerate federal payments for new... projects. The funding will give a well-timed boost to communities that have made important investments in...
Capital budgeting practices used by selected listed South African firms
Directory of Open Access Journals (Sweden)
John Hall
2011-05-01
Full Text Available This article investigates the application of capital budgeting techniques and the incorporation of risk into the capital budgeting process among a sample of South African industrial firms listed on the JSE Securities Exchange for at least ten years. Previous international and local research on this topic indicated a preference for the internal rate of return (IRR as a capital budgeting method over the net present value (NPV, and that risk incorporation was relatively rarely incorporated into the capital budgeting process. The results of this study indicate that the NPV is just as popular as, and sometimes more so than, the IRR. Furthermore, compared to previous studies, risk is incorporated into evaluating capital budgeting projects more often. Sensitivity analysis is the most popular method, but adjustments to the cash flows and discount rate are becoming more popular. During the last decade the use of non-financial criteria to accept or reject a project has also increased in South Africa.
Long-term capital planning considering nuclear plant life-cycle management
International Nuclear Information System (INIS)
Negin, C.A.; Simpson, J.M.; Hostetler, D.R.
1992-09-01
The creation of a Life Cycle Management (LCM) group at utilities to evaluate the long term capital refurbishment needs is gaining favor. Among the functions of such groups can be the responsibility for recommending long term capital planning projects based on results of evaluations of systems, structures, and components that are not only essential to achieving the full current license term of operation, but also to extend the service life of the plant. Making such recommendations, in content and timing, requires the ability to view all recommendations in the context of an overall capital budget and long range outage impacts. This report illustrates an approach for creating a Long-Term Capital Plan with methods for deciding on, compiling, integrating, and presenting projects from the perspective of an LCM program for a nuclear power plant. It also addresses a rationale for capitalization of LCM program activities that would not be allowed under current accounting treatment
Does National Culture Impact Capital Budgeting Systems?
Directory of Open Access Journals (Sweden)
Peter J. Graham
2017-06-01
Full Text Available We examine how national culture impacts organisational selection of capital budgeting systems to develop our understanding of what influence a holistic formulation of national culture has on capital budgeting systems. Such an understanding is important as it would not only provide a clearer link between national culture and capital budgeting systems and advance extant literature but would also help multinational firms that have business relationships with Indonesian firms in suitably designing strategies. We conducted semi-structured interviews of selected finance managers of listed firms in Indonesia and Australia. Consistent with the contingency theory, we found that economic, political, legal and social uncertainty impact on the use of capital budgeting systems. The levels of uncertainty were higher in Indonesia than Australia and need to be reckoned in the selection of capital budgeting systems used by firms. We also found that firms are influenced by project size and complexity, when selecting capital budgeting systems.
Directory of Open Access Journals (Sweden)
Elena Grigoryeva
2017-06-01
A world away, in the Cape Winelands, architects of Stellenbosch struggle for the identity of the city, the capital of the unique cultural landscape. Here the traditional African culture is mixed with three century-long tradition of winegrowing and winemaking. This wonderful mixture was placed on the UNESCO Tentative List of World Heritage Sites. The authors of the project use cultural heritage protection laws to protect their city from chaotic development.
BRAZILIAN EDUCATION AND SURVIVAL STRATEGIES OF CAPITALISM
Directory of Open Access Journals (Sweden)
Adriana Almeida Sales de Melo
2012-06-01
Full Text Available In discussing the theme Imperialism, Crisis and education, the essay points out aspects of our historical totality in relation to recent crises through which it passed capitalism, and its relationship to changes in Brazilian educational policies. Education remains at the heart of development projects, as a producer of knowledge, as well as guiding the processes of social conformation. They also discussed the aftermath of the crisis: the rise of social inequality and the increase of labor exploitation. Make clear our project of society and education, as resistance movements to the survival of capitalism is a necessity in building movements of counter-hegemony.
Capital investment strategies in health care systems.
Reiter, K L; Smith, D G; Wheeler, J R; Rivenson, H L
2000-01-01
Capital investment decisions are among the most important decisions made by firms. They determine the firm's capacity for providing services and commit the firm's cash for an extended period of time. Interviews with chief financial officers of leading health care systems reveal capital investment strategies that generally follow the recommendations of modern finance theory. Still, there is substantial variation in capital budgeting techniques, methods of risk adjustment, and the importance of qualitative considerations in investment decision making. There is also variation in delegation of investment decision making to operating units and methods of performance evaluation. Health care systems face the same challenges as other organizations in developing and implementing capital investment strategies that use consistent methods for evaluation of projects that have inconsistent aims and outcomes.
International Nuclear Information System (INIS)
Heidari, Dorna; Javadpour, Sirus; Chan, Siew Hwa
2017-01-01
Highlights: • Effect of BSCF-SDC composite air electrode on SOEC electrochemical performance. • Effects on performance of BSCF-SDC air electrode, fuel humidity and temperature. • Desired IT-SOEC performance by compositing the BSCF air electrode with SDC. - Abstract: Solid oxide electrolyzer cells (SOECs) are devises which recently have attracted lots of attention due to their advantages. Their high operating temperature leads to mechanical compatibility issues such as thermal expansion mismatch between layers of material in the cell. The aim of this study is to mitigate the issue of thermal expansion mismatch between Ba_0_._5Sr_0_._5Co_0_._8Fe_0_._2O_3_−_δ (BSCF) and samaria doped ceria, Sm_0_._2Ce_0_._8O_1_._9 (SDC), enhance the triple-phase boundaries and improve the adhesion of the electrode to the electrolytes, hence improve the cell performance. To make BSCF more thermo-mechanically compatible with the SDC electrolyte, the formation of a composite electrode by introducing SDC as the compositing material is proposed. In this study, 10 wt.%, 20 wt.%, 30 wt.%, 40 wt.%, and 50 wt.% of commercial SDC powder was mixed with BSCF powder, prepared by sol-gel method, to make the composite air electrode. After successfully synthesizing the BSCF-SDC/YSZ-SDC/Ni-YSZ electrolyzer cell, the electrochemical performance was tested for the intermediate-temperature SOEC (IT-SOEC), over the temperature range of 650–800 °C. The microstructure of each sample was studied by field emission electron microscopy (FESEM, JEOL, JSM 6340F) for possible pin holes. The result of this study proves that the sample with 20% SDC-80% BSCF shows the highest performance among the investigated cells.
Capital Markets Union for Europe
DEFF Research Database (Denmark)
Ringe, Georg
2015-01-01
The merits of the “Capital Markets Union” project lie with its political importance, rather than its legal coherence or significance. Despite a number of substantial flaws, the initiation of this project comes at the right time. The Commission first and foremost sends a political message to the UK...... and other non-Euro Member States, as well as a commitment to the Single Market....
The Universe in Your City - Nineteen Capitals
Scarpa, D.; Más, A.
2010-10-01
The programme, The Universe in Your City - Nineteen Capitals, took us to each of Uruguay's nineteen provincial capitals. In each capital we erected our Kappa Crucis Digital Mobile Planetarium and were able to reach a wide range of children of school age, and especially children in "critical contexts" (i.e. socially and economically deprived children). We transported our equipment, together with the exhibition materials for the IYA2009 Cornerstone project, From Earth To The Universe - and set it up in open public spaces, staying in each location for one week and offering an average of nine daily 40-minute presentations. Each session featured information on Galileo Galilei's discoveries, the Uruguayan night sky and the cultural heritage provided by the sky. A record number of 46 428 people participated in the 884 sessions held between April and September; while many more simply visited the exhibition. This reflects the remarkable success of the project.
The impact of a prevention delivery system on perceived social capital: the PROSPER project.
Chilenski, Sarah M; Ang, Patricia M; Greenberg, Mark T; Feinberg, Mark E; Spoth, Richard
2014-04-01
The current study examined the impact of the PROSPER delivery system for evidence-based prevention programs on multiple indicators of social capital in a rural and semi-rural community sample. Utilizing a randomized blocked design, 317 individuals in 28 communities across two states were interviewed at three time points over the course of 2.5 years. Bridging, linking, and the public life skills forms of social capital were assessed via community members' and leaders' reports on the perceptions of school functioning and the Cooperative Extension System, collaboration among organizations, communication and collaboration around youth problems, and other measures. Longitudinal mixed model results indicate significant improvements in some aspects of bridging and linking social capital in PROSPER intervention communities. Given the strength of the longitudinal and randomized research design, results advance prevention science by suggesting that community collaborative prevention initiatives can significantly impact community social capital in a rural and semi-rural sample. Future research should further investigate changes in social capital in different contexts and how changes in social capital relate to other intervention effects.
Venture Capital Financing, Moral Hazard and Learning
Bergemann, D.; Hege, U.
1997-01-01
We consider the provision of venture capital in a dynamic agency model. The value of the venture project is initially uncertain and more information arrives by developing the project. The allocation of the funds and the learning process are subject to moral hazard. The optimal contract is a
THE REAL OPTIONS OF CAPITAL BUDGET
Directory of Open Access Journals (Sweden)
Antonio Lopo Martins
2008-07-01
Full Text Available The traditional techniques of capital budget, as the deducted cash flow and the net value present, do not incorporate existing flexibilities in an investment project, they tend to distort the value of certain investments, mainly those that are considered in scenes of uncertainty and risk. Therefore, this study intends to demonstrate that the Real Options Theory (TOR is a useful methodology to evaluate and to indicate the best option for project of expansion investment. To reach the considered objective the procedure method was used a case study, having as unit of case the Resort Praia Hotel do Litoral Norte of Salvador. This study was developed of the following form: first it identified the traditional net value present and later it was incorporated the volatileness of each analyzed uncertainty. Second, as the real options are analogous to the financial options, it was necessary to identify elements that composed the terminologies of the financial options with intention to get the value of the real option. For this model of options pricing of Black & Scholes jointly with a computational simulator was used (SLS to get the expanded net value present. As a result of this study it was possible to evidence that using the traditional tool of capital budget Net Value Present (VPL is negative, therefore the project of expansion of the Hotel would be rejected. While for the application of methodology TOR the project presents positive Expanded Present Value which would represent an excellent chance of investment. Key-word: Capital budget, Real options, Analysis of investments.
Energy Technology Data Exchange (ETDEWEB)
BT Oakley; JH Holbrook; L Scully; MR Weimar; PK Kearns; R DiPrinzio
1998-10-19
The U.S. Department of Energy (DOE) launched the Contract Reform Initiative in 1994 in order to improve the effectiveness and effkiency of managing major projects and programs. The intent of this initiative is to help DOE harness both technical and market forces to reduce the overall cost of accomplishing DOE's program goals. The new approach transfers greater risk to private contractors in order to develop incentives that align contractor performance with DOE's objectives. In some cases, this goal can be achieved through public-private partnerships wherein the govermhent and the contractor share risks associated with a project in a way that optimizes its economics. Generally, this requires that project risks are allocated to the party best equipped to manage and/or underwrite them. While the merits of privatization are well documented, the question of how privatized services should be financed is often debated. Given the cost of private sector equity and debt, it is difficult to ignore the lure of the government's "risk free" cost of capital. However, the source of financing for a project is an integral part of its overall risk allocation, and therefore, participation by the government as a financing source could alter the allocation of risks in the project, diminishing the incentive structure. Since the government's participation in the project's financing often can be a requirement for financial feasibility, the dilemma of structuring a role for the government without undermining the success of the project is a common and difficult challenge faced by policymakers around the world. However, before reverting to a traditional procurement approach where the government enters into a cost-plus risk profile, the government should exhaust all options that keep the private entity at risk for important aspects of the project. Government participation in a project can include a broad range of options and can be applied with precision to bridge a
Directory of Open Access Journals (Sweden)
Ana Belen Jorge
2018-06-01
Full Text Available Carbon nitride materials with graphitic to polymeric structures (gCNH were investigated as catalyst supports for the proton exchange membrane (PEM water electrolyzers using IrO2 nanoparticles as oxygen evolution electrocatalyst. Here, the performance of IrO2 nanoparticles formed and deposited in situ onto carbon nitride support for PEM water electrolysis was explored based on previous preliminary studies conducted in related systems. The results revealed that this preparation route catalyzed the decomposition of the carbon nitride to form a material with much lower N content. This resulted in a significant enhancement of the performance of the gCNH-IrO2 (or N-doped C-IrO2 electrocatalyst that was likely attributed to higher electrical conductivity of the N-doped carbon support.
Energy Technology Data Exchange (ETDEWEB)
Vaquero Ortiz, E. M.; González Pineda, L. M.; Cascante Díaz, E.
2015-07-01
The resources in any organization for its activity development can be divided into two main groups: tangible assets and intangible assets. In recent decades there has been a recognition of the importance of the intangible assets as value generators for the development and growth of organizations. And the so called Relational Capital is among them Relational Capital arises from the relationship processes that an organization maintains with external agents. Thus, in the case of a public research institution, such as CIEMAT, it includes the relations with projects financing organizations, with partners and with customers (both public and private entities which are serviced), as well as the institutional presence understood as the participation in discussion and coordination forums (foundations, associations, committees…). This report presents a study of CIEMAT institutional presence in the year 2015.
CAPITAL STRUCTURE AND VENTURE CAPITAL
Directory of Open Access Journals (Sweden)
Becsky-Nagy Patricia
2015-07-01
Full Text Available Venture capital significantly changes the capital structure of the portfolio company at the time of the investment. Venture capitalists contribute to the company’s success through their active involvement in the management and their added value appears in the increase of the value of the equity. At the same time with taking active role in the management, agency problem occurs, that complicates the cooperation and the success of exit. In this article we search the answer for the question whether the preferred equity, that are commonly used in the US for bridging the agency problem, are used and able to help Hungarian venture capitalists to manage agency problems. On the other hand we examined how the venture capital affect capital structure, how the venture capitalists value added appear in the capital structure. During the evaluation of the three case studies, we came to the conclusion, that the venture capital investments have positive effect on the liabilities of the enterprises, as the capital structure indexes show. However, the investors need the ownership, which help them to step up resolutely, when things change for the worse, and companies need the expertise, which the investors bring with their personal assistance. The investor’s new attitude also has positive effect on a mature company, which has an experienced leader, because he can show another aspect, as a person who come from outside. During the examination of the capital structure, we cannot disregard the events of the company’s environment, which have effects on the firm. The investor’s decisions also appear different ways. Because of this, every venture capital investment is different, just as the capital structure of the firms, in which they invest.
Danish Capitalism in the 20th Century
DEFF Research Database (Denmark)
Iversen, Martin Jes; Sløk-Madsen, Stefan Kirkegaard
marked by large-scale redistribution and a very active public sector. The purpose of this book project is to analyze development of Danish capitalism in the 20th century. The first of our hypothesis state that the phases of Danish capitalism and the general corporate strategies reflected each other...... how the corporate strategies shaped and was shaped by the changing nature of Danish capitalism. Such a work as this is important as it bears testimony to the changing nature of market institutions. A descriptive and analytic exercise such as proposed here have only to a limited extent been carried out...... in the Danish language, and never in a compiled, comprehensive, and connected work. The English language situation for understanding Danish capitalism is even more dire, which leads to increasing, and likely reinforcing, stereotypes and myths about “the fairytale country”....
The Brazilian Public Health in Contemporary Capitalism.
Junqueira, Virgínia; Mendes, Áquilas N
2018-01-01
This article examines some political and economic facts that led to an intensification of austerity measures by the Brazilian government, including ones against the Unified Health System (SUS) and its progressive dismantling. In a country where fundamental human rights were never fully respected, nowadays social and labor rights are under severe attacks. The deepening of the capital crisis and the rise of interest-bearing capital dominance have been causing unemployment, social insecurity growth, and resulting public fund appropriation by the private capital. The Brazilian governments in the 1990s and 2000s have implemented deeper cuts in social policy expenditure, freezing security benefits, privatizing services, and prioritizing the payment of public debt interests. The right wing's project involves the demoralization of not only the Workers' Party but also the left as a whole, so that the adoption of austerity measures could be achieved without popular resistance. It is the duty of the Brazilian left wing to denounce such a project and to provoke firm initiatives to rebuild its bonds with the working class.
Removal of Foodborne Pathogen Biofilms by Acidic Electrolyzed Water
Directory of Open Access Journals (Sweden)
Qiao Han
2017-06-01
Full Text Available Biofilms, which are complex microbial communities embedded in the protective extracellular polymeric substances (EPS, are difficult to remove in food production facilities. In this study, the use of acidic electrolyzed water (AEW to remove foodborne pathogen biofilms was evaluated. We used a green fluorescent protein-tagged Escherichia coli for monitoring the efficiency of AEW for removing biofilms, where under the optimal treatment conditions, the fluorescent signal of cells in the biofilm disappeared rapidly and the population of biofilm cells was reduced by more than 67%. Additionally, AEW triggered EPS disruption, as indicated by the deformation of the carbohydrate C-O-C bond and deformation of the aromatic rings in the amino acids tyrosine and phenylalanine. These deformations were identified by EPS chemical analysis and Raman spectroscopic analysis. Scanning electron microscopy (SEM images confirmed that the breakup and detachment of biofilm were enhanced after AEW treatment. Further, AEW also eradicated biofilms formed by both Gram-negative bacteria (Vibrio parahaemolyticus and Gram-positive bacteria (Listeria monocytogenes and was observed to inactivate the detached cells which are a potential source of secondary pollution. This study demonstrates that AEW could be a reliable foodborne pathogen biofilm disrupter and an eco-friendly alternative to sanitizers traditionally used in the food industry.
Energy Technology Data Exchange (ETDEWEB)
Kathy Lu; W. T. Reynolds, Jr.
2010-06-08
High-temperature electrolysis of water steam is a promising approach for hydrogen production. The potential is even more promising when abundant heat source from nuclear power reactors can be efficiently utilized. Hydrogen production through the above approach also allows for low electric consumption. Overall energy conversion efficiencies for high temperature electrolysis are in the 45-50% range compared to ~30% for the conventional electrolysis. Under such motivation, this research is focused on increasing the operation time and high temperature stability of solid oxide electrolyzer cells (SOEC) for splitting water into hydrogen. Specifically, our focus is to improve the SOEC seal thermal stability and performances by alleviating thermal stress and seal cracking issues.
Iraq Reconstruction: Lessons in Human Capital Management
National Research Council Canada - National Science Library
Bowen, Jr., Stuart W; Nash, William L
2006-01-01
...) Human Capital Management, (2) Contracting, and (3) Program and Project Management. In each subject area, SIGIR gathers information through research and interviews, collating and distilling the results into a white paper...
TOWARDS THE CAPITAL MARKET UNION
Directory of Open Access Journals (Sweden)
Iulian PANAIT
2015-06-01
Full Text Available This paper discusses the main characteristics of the proposed Capital Markets Union in Europe, as they are introduced by the European Commission and various authors, and emphasises some important advantages and disadvantages of this project for the developing and frontier markets in UE, especially for Romania.
Using Four Capitals to Assess Watershed Sustainability
Pérez-Maqueo, Octavio; Martinez, M. Luisa; Vázquez, Gabriela; Equihua, Miguel
2013-03-01
The La Antigua watershed drains into the Gulf of Mexico and can be considered as one of the most important areas in Mexico because of its high productivity, history, and biodiversity, although poverty remains high in the area in spite of these positive attributes. In this study, we performed an integrated assessment of the watershed to recommend a better direction toward a sustainable management in which the four capitals (natural, human, social, and built) are balanced. We contrasted these four capitals in the municipalities of the upper, middle and lower watershed and found that natural capital (natural ecosystems and ecosystem services) was higher in the upper and middle watershed, while human and social capitals (literacy, health, education and income) were generally higher downstream. Overall, Human Development Index was negatively correlated with the percentage of natural ecosystems in the watershed, especially in the upper and lower watershed regions. Our results indicate that natural capital must be fully considered in projections for increasing human development, so that natural resources can be preserved and managed adequately while sustaining intergenerational well-being.
Predictive models for PEM-electrolyzer performance using adaptive neuro-fuzzy inference systems
Energy Technology Data Exchange (ETDEWEB)
Becker, Steffen [University of Tasmania, Hobart 7001, Tasmania (Australia); Karri, Vishy [Australian College of Kuwait (Kuwait)
2010-09-15
Predictive models were built using neural network based Adaptive Neuro-Fuzzy Inference Systems for hydrogen flow rate, electrolyzer system-efficiency and stack-efficiency respectively. A comprehensive experimental database forms the foundation for the predictive models. It is argued that, due to the high costs associated with the hydrogen measuring equipment; these reliable predictive models can be implemented as virtual sensors. These models can also be used on-line for monitoring and safety of hydrogen equipment. The quantitative accuracy of the predictive models is appraised using statistical techniques. These mathematical models are found to be reliable predictive tools with an excellent accuracy of {+-}3% compared with experimental values. The predictive nature of these models did not show any significant bias to either over prediction or under prediction. These predictive models, built on a sound mathematical and quantitative basis, can be seen as a step towards establishing hydrogen performance prediction models as generic virtual sensors for wider safety and monitoring applications. (author)
Pilkington, Paul
2002-09-01
This paper examines whether an understanding of the concept of social capital and its local measurement can help to tackle inequalities in health within and across communities. The paper concludes that the concept of social capital offers a valuable opportunity to help public health professionals understand how to approach inequalities in health with a greater awareness of the social processes affecting the health of communities. The measurement of social capital has been problematic. However, new guidance from the Health Development Agency (HDA) provides a useful tool for developing social capital research. A greater understanding of whether, and how social capital relates to health will help to improve strategies to reduce health inequalities at the community level. Public health professionals contributing to community development strategies such as Neighbourhood Renewal Projects, Community Safety Partnerships, Health Action Zones and Health Improvement Programmes (HImPs) should encourage thought to be given about the role that an understanding of social capital could play in making these strategies more effective. Using the HDA measurement tool locally could be one way of doing this.
THE ROAD OF ROMANIA FROM FRONTIER TOWARDS EMERGING CAPITAL
Directory of Open Access Journals (Sweden)
BELCIC-ŞTEFAN IULIA-OANA
2015-08-01
Full Text Available In the present study I first present the classification system of states by international financial institutions on economic and financial criteria, then focusing on the classification made by Morgan Stanley Capital International. According to it the capital market in Romania is currently a frontier one, the Financial Surveillance Authority pursuing the reclassification as an emerging capital market by August 2016. The findings of the study indicate this term as unrealistic, for several reasons. Thus, curently on the Romanian stock market there are only two entities out of 3 minimum required, respectively S.N.G.N Romgaz and Fondul Proprietatea, which fully meet the size and liquidity requirements imposed by MSCI in order to be reclassified as an emerging capital market. Also it is mandatory making significant progress regarding the effectiveness of the operational framework, progress made to some extent through Project S.T.E.A.M. (Set of actions Towards Establishing and Acknowledgment of the emerging Market status. On this project, after analyzing the degree of completion of the proposed measures in order to reach the primary and secondary objectives, whose deadlines have expired, according to the schedule provided, we found that only 69% of them were fulfilled. Given these considerations I can state that Romania could be reclassified as an emerging capital market at the earliest starting with 2017.
A Renewably Powered Hydrogen Generation and Fueling Station Community Project
Lyons, Valerie J.; Sekura, Linda S.; Prokopius, Paul; Theirl, Susan
2009-01-01
The proposed project goal is to encourage the use of renewable energy and clean fuel technologies for transportation and other applications while generating economic development. This can be done by creating an incubator for collaborators, and creating a manufacturing hub for the energy economy of the future by training both white- and blue-collar workers for the new energy economy. Hydrogen electrolyzer fueling stations could be mass-produced, shipped and installed in collaboration with renewable energy power stations, or installed connected to the grid with renewable power added later.
Snyder, Herbert W.; Pierce, Jennifer Burek
2002-01-01
This review focuses on intellectual capital and its relationship to information professionals. Discusses asset recognition; national practices and the acceptance of intellectual capital; definitions of intellectual capital; measuring intellectual capital, including multiple and single variable measures; managing intellectual capital; and knowledge…
Qatar - large capital investment planned
International Nuclear Information System (INIS)
Roberts, J.
1996-01-01
Large capital investments are planned throughout Qatar's energy industry over the next five years totalling $25 billion. This article describes the successful commissioning of Qatar's first liquefied natural gas (LNG) project on time and within budget. The second LNG plant is well underway and plans for a third are under negotiation. (UK)
Primitive Accumulation and Temporalities of Capitalism
Directory of Open Access Journals (Sweden)
Joanna Bednarek
2015-04-01
Full Text Available The main thesis of the article is the statement that capitalism is composed of many different, incoherent temporalities, as well as that apprehension of capitalism from the angle of primitive accumulation enables the more accurate grasp of the modes of its functioning, including the complexity created by the interactions of the temporalities mentionned. The problem of primitive accumulation is, as Sandro Mezzadra proves, a good starting point for analysing this issue. It allows us to pose two questions: first, the question of the relation between the historical dimension and the structural logic of capitalism; second, the question of hierarchical relation between the center and the periphery of the capitalist system.Dipesh Chakrabarty’s project of ‘provincializing Europe’ proves helpful here, as it’s goal is deconstruction of the categories of progress, modernization and the capital with its abstract structure. The aim is not to negate the fact that capitalist abstraction is a real force, but to show that this force develops by means of constant assimiliation of the other – redefined as ‘backward’ or archaic. The linear scheme is in force, because it is the main mechanism of imposing the power of capital; as such, it is not politically neutral.
Using Executive Information Systems to Manage Capital Projects and Facilities.
Kaynor, Robert
1993-01-01
In higher education, facilities data are essential for long-term capital and financial planning and for testing assumptions underlying anticipated policy change. Executive information systems should incorporate life-cycle considerations (planning, construction, renovation, and management) and resource linkages (describing interrelationships of…
2013-12-20
... Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule, and Market Risk Capital..., 2013, a document adopting a final rule that revises its risk-based and leverage capital requirements... risk-based and leverage capital requirements for banking organizations. An allowance for additional...
Preliminary Project Execution Plan for the Remote-Handled Low-Level Waste Disposal Project
Energy Technology Data Exchange (ETDEWEB)
David Duncan
2011-05-01
This preliminary project execution plan (PEP) defines U.S. Department of Energy (DOE) project objectives, roles and responsibilities of project participants, project organization, and controls to effectively manage acquisition of capital funds for construction of a proposed remote-handled low-level waste (LLW) disposal facility at the Idaho National Laboratory (INL). The plan addresses the policies, requirements, and critical decision (CD) responsibilities identified in DOE Order 413.3B, 'Program and Project Management for the Acquisition of Capital Assets.' This plan is intended to be a 'living document' that will be periodically updated as the project progresses through the CD process to construction and turnover for operation.
Preliminary Project Execution Plan for the Remote-Handled Low-Level Waste Disposal Project
International Nuclear Information System (INIS)
Duncan, David
2011-01-01
This preliminary project execution plan (PEP) defines U.S. Department of Energy (DOE) project objectives, roles and responsibilities of project participants, project organization, and controls to effectively manage acquisition of capital funds for construction of a proposed remote-handled low-level waste (LLW) disposal facility at the Idaho National Laboratory (INL). The plan addresses the policies, requirements, and critical decision (CD) responsibilities identified in DOE Order 413.3B, 'Program and Project Management for the Acquisition of Capital Assets.' This plan is intended to be a 'living document' that will be periodically updated as the project progresses through the CD process to construction and turnover for operation.
The manager and equipment decisions: is that in the capital budget?
McConnell, C R
2001-06-01
Although any decision to purchase a piece of capital equipment involves a number of the organization's functions, the department manager has some significant responsibilities in the selection and acquisition of capital equipment. Except for unavoidable replacement of essential equipment that fails unexpectedly, capital purchases must ordinarily be planned in advance through the annual budgeting process. The department manager is ordinarily the organization's primary source of information in major capital expenditure projects; therefore, it is essential that the manager follow a logical process for identifying and evaluating alternative equipment choices and perform a consistent economic analysis of the alternatives.
Social capital and post-disaster mental health
Directory of Open Access Journals (Sweden)
Tim R. Wind
2011-06-01
Full Text Available Background : Despite national and international policies to develop social capital in disaster-affected communities, empiric evidence on the association between social capital and disaster mental health is limited and ambiguous. Objective : The study explores the relationship between social capital and disaster mental health outcomes (PTSD, anxiety, and depression in combination with individual factors (appraisal, coping behavior, and social support. Design : This is a community-based cross-sectional study in a flood-affected town in northern England. The study is part of the MICRODIS multi-country research project that examines the impact of natural disasters. It included 232 flood-affected respondents. Results : The findings showed that a considerable part of the association between cognitive and structural social capital and mental health is exerted through individual appraisal processes (i.e. property loss, primary and secondary appraisal, social support, and coping behavior. These individual factors were contingent on social capital. After the inclusion of individual characteristics, cognitive social capital was negatively related to lower mental health problems and structural social capital was positively associated to experiencing anxiety but not to PTSD or depression. Depression and anxiety showed a different pattern of association with both components of social capital. Conclusions : Individual oriented stress reducing interventions that use appraisal processes, social support, and coping as starting points could be more effective by taking into account the subjective experience of the social context in terms of trust and feelings of mutual support and reciprocity in a community. Findings indicate that affected people may especially benefit from a combination of individual stress reducing interventions and psychosocial interventions that foster cognitive social capital.
Analysis of the Capital Budgeting Practices: Serbian Case
Directory of Open Access Journals (Sweden)
Lidija Barjaktarovic
2016-09-01
Full Text Available This paper addresses two major research questions: which techniques firms in Serbia use for project evaluation, and how the Serbian companies calculate their cost of capital. The authors have created the questionnaire and the sample consisting of 65 companies that responded to the enquiry (out of 392 during the year 2015. The results showed that payback criterion is the most dominant capital budgeting technique used by firms in Serbia. Further, the results revealed that large firms as well as multinational firms are more inclined to use discounted cash flow capital budgeting techniques and other sophisticated techniques. Finally, the authors have concluded that the CAPM is not the dominant method for calculating cost of capital by the companies from the sample analyzing the overall sample. Consequently, skilled human capital, the adequate knowledge and developed procedures may contribute to accepting capital budgeting techniques such as discounted cash flow analysis and other sophisticated techniques by larger portion of the companies in Serbia. Finally, existence of perfect financial market is a necessary precondition for implementing all these contemporary financial concepts and its development has to be posed as one of the priorities in the years to come.
Sustainable Venture Capital Investments: An Enabler Investigation
Directory of Open Access Journals (Sweden)
Elena Antarciuc
2018-04-01
Full Text Available Investing in sustainable projects can help tackle the current sustainability challenges. Venture capital investments can contribute significantly to the growth of sustainable start-ups. Sustainable venture capital (SVC research is just emerging. This paper identifies enablers for sustainable venture capital investments in Saudi Arabia taking into account different stakeholders and firm’s tangible and intangible resources. Using perspectives from venture capital experts in Saudi Arabia and the grey-based Decision-Making Trial and Evaluation Laboratory (DEMATEL method, this study pinpoints the most critical enablers and investigates their causal and effect interconnections. The methodological process consists of reviewing the SVC literature and consulting the experts to identify the SVC enablers, creating a questionnaire, acquiring the answers from four experts, analyzing the data with grey-based DEMATEL and performing a sensitivity analysis. The government use of international standards, policies and regulations for sustainable investments, the commitment of the venture capitalists to sustainability and their deep understanding of sustainable business models are the most influential enablers. The paper concludes with implications for different actors, limitations and prospective directions for the sustainable venture capital research.
A Behavioral Theory of Human Capital Integration
DEFF Research Database (Denmark)
Christensen, Jesper
design in fostering the integration and use of human capital is bounded by individual cognitive limitations that may lead employees to deviate from expected behavior, both individually and in collaboration. The thesis consists of three research papers relying on comprehensive longitudinal project data...... with one another. The overarching contribution of the thesis is to demonstrate, through the combination of psychological and organizational theory, how the ability of firms to properly activate and apply the knowledge held by their employees is fundamentally contingent on the interplay of cognitive...... of a behavioral theory of human capital integration....
Bolam, Bruce; McLean, Carl; Pennington, Andrew; Gillies, Pamela
2006-03-01
The present article presents an exploratory qualitative process evaluation study of 'Ambassador' participation in CityNet, an innovative information-communication technology-based (ICT) project that aims to build aspects of social capital and improve access to information and services among disadvantaged groups in Nottingham, UK. A purposive sample of 40 'Ambassadors' interviewees was gathered in three waves of data collection. The two emergent analytic themes highlighted how improvements in confidence, self-esteem and social networks produced via participation were mitigated by structural problems in devolving power within the project. This illustrates how concepts of power are important for understanding the process of health promotion interventions using new media.
49 CFR 611.7 - Relation to planning and project development processes.
2010-10-01
...) FEDERAL TRANSIT ADMINISTRATION, DEPARTMENT OF TRANSPORTATION MAJOR CAPITAL INVESTMENT PROJECTS § 611.7... with 23 CFR part 450. To be eligible for FTA capital investment funding, a proposed project must be...) To be eligible for FTA capital investment funding for a major fixed guideway transit project, local...
Tax Policy, Venture Capital, and Entrepreneurship
DEFF Research Database (Denmark)
Keuschnigg, Christian; Nielsen, Søren Bo
The paper studies the effects of tax policy on venture capital activity. Entrepreneurs pursue a single high risk project each but have no own resources. Financiers provide equity finance. They must structure the entrepreneur's profit share and base salary to assure their incentives for full effort...
76 FR 58334 - Program for Capital Grants for Rail Line Relocation and Improvement Projects
2011-09-20
..., townships, boroughs, and villages. If an applicant is not one of these traditional political subdivisions...,000 or more per unit. (Note: Organization's own capitalization policy may be used for items costing... costing less than $5,000) and show the basis for computation. (Note: Organization's own capitalization...
Measuring capital market efficiency: Global and local correlations structure
Czech Academy of Sciences Publication Activity Database
Krištoufek, Ladislav; Vošvrda, Miloslav
2013-01-01
Roč. 392, č. 1 (2013), s. 184-193 ISSN 0378-4371 R&D Projects: GA ČR(CZ) GBP402/12/G097 Institutional support: RVO:67985556 Keywords : Capital market efficiency * Fractal dimension * Long-range dependence * Short-range dependence Subject RIV: AH - Economics Impact factor: 1.722, year: 2013 http://library.utia.cas.cz/separaty/2012/E/kristoufek-measuring capital market efficiency global and local correlations structure.pdf
One-step electrosynthesis of ethylene and ethanol from CO2 in an alkaline electrolyzer
Ma, Sichao; Sadakiyo, Masaaki; Luo, Raymond; Heima, Minako; Yamauchi, Miho; Kenis, Paul J. A.
2016-01-01
Electroreduction of CO2 has potential for storing otherwise wasted intermittent renewable energy, while reducing emission of CO2 into the atmosphere. Identifying robust and efficient electrocatalysts and associated optimum operating conditions to produce hydrocarbons at high energetic efficiency (low overpotential) remains a challenge. In this study, four Cu nanoparticle catalysts of different morphology and composition (amount of surface oxide) are synthesized and their activities towards CO2 reduction are characterized in an alkaline electrolyzer. Use of catalysts with large surface roughness results in a combined Faradaic efficiency (46%) for the electroreduction of CO2 to ethylene and ethanol in combination with current densities of ∼200 mA cm-2, a 10-fold increase in performance achieved at much lower overpotential (only catalysts bring electrochemical reduction processes such as presented here closer to practical application.
Wind-To-Hydrogen Energy Pilot Project
Energy Technology Data Exchange (ETDEWEB)
Ron Rebenitsch; Randall Bush; Allen Boushee; Brad G. Stevens; Kirk D. Williams; Jeremy Woeste; Ronda Peters; Keith Bennett
2009-04-24
feasibility study showed that several factors can greatly affect, both positively and negatively, the "per kg" cost of hydrogen. After a September 15, 2005, meeting to evaluate the advisability of funding Phase II of the project DOE concurred with BEPC that Phase I results did warrant a "go" recommendation to proceed with Phase II activities. The hydrogen production system was built by Hydrogenics and consisted of several main components: hydrogen production system, gas control panel, hydrogen storage assembly and hydrogen-fueling dispenser The hydrogen production system utilizes a bipolar alkaline electrolyzer nominally capable of producing 30 Nm3/h (2.7 kg/h). The hydrogen is compressed to 6000 psi and delivered to an on-site three-bank cascading storage assembly with 80 kg of storage capacity. Vehicle fueling is made possible through a Hydrogenics-provided gas control panel and dispenser able to fuel vehicles to 5000 psi. A key component of this project was the development of a dynamic scheduling system to control the wind energy's variable output to the electrolyzer cell stacks. The dynamic scheduling system received an output signal from the wind farm, processed this signal based on the operational mode, and dispatched the appropriate signal to the electrolyzer cell stacks. For the study BEPC chose to utilize output from the Wilton wind farm located in central ND. Site design was performed from May 2006 through August 2006. Site construction activities were from August to November 2006 which involved earthwork, infrastructure installation, and concrete slab construction. From April - October 2007, the system components were installed and connected. Beginning in November 2007, the system was operated in a start-up/shakedown mode. Because of numerous issues, the start-up/shakedown period essentially lasted until the end of January 2008, at which time a site acceptance test was performed. Official system operation began on February 14, 2008, and continued through the
Capital requirements of the US-energy economy up to 1990
International Nuclear Information System (INIS)
Posner, E.
1976-01-01
Efforts to give the U.S. energy market a new structure in favour of a higher proportion of domestic energy resources involve particular attention to investment problems and the possibilities of the U.S. capital market for providing capital for the planned energy projects. If the doubts lately expressed by members of government, industry and banks with respect to sufficient financing of domestic energy projects prove to be realistic, increased dependence of the U.S.A. on uncertain imported energies, particularly mineral oil, would not be avoidable. Among various studies and estimates of private organizations dealing with these problems, a study carried out by the Bankers Trust Company, which was published at the beginning of this year, is most remarkable. The bank investigated alternative energy consumption structures and calculated these alternatives in an effort to find out whether the objections as to sufficient capital are justified. (orig./UA) [de
Trevino Project: a fast-track approach for a small construction project
International Nuclear Information System (INIS)
Schick, C.J.; Lynn, N.S.
1982-01-01
The approach to a construction project can vary according to the size, location, and degree of difficulty associated with the project. This paper deals with one approach that can be taken to a small construction project, the fast-track approach. A small construction project can be defined as a project having less than $20 million capital cost or a project with a low degree of difficulty. This approach is very applicable to in-situ leaching uranium projects, small precious metal operations, etc. The approach to the small project is that of fast-tracking the project in order to minimize the time over which capital expenditure occurs and also to reduce the indirect costs of field expense, construction supplies, construction equipment, etc. In order to fast-track a project it is necessary to do a very precise job on the preliminary phases of the project such as preliminary engineering, plant site location, environmental permits, etc. 2 figures, 2 tables
THE EFFECT OF HUMAN CAPITAL ON SOCIAL CAPITAL AMONG ENTREPRENEURS
HANNES OTTÓSSON; KIM KLYVER
2010-01-01
Using data collected from 714 entrepreneurs in a random sample of 10,000 Danes, this study provides an investigation of the effect of human capital on social capital among entrepreneurs. Previous entrepreneurship research has extensively investigated the separated effect of human capital and social capital on different entrepreneurial outputs. The study takes a step back and investigates how these two capital concepts are related — specifically how human capital influences social capital. In ...
Directory of Open Access Journals (Sweden)
Riley Therese
2005-04-01
Full Text Available Abstract Background This article discusses the study design and methods used to contextualize and assess the social capital of seniors living in congregate housing residences in Calgary, Alberta. The project is being funded as a pilot project under the Institute of Aging, Canadian Institutes for Health Research. Design/Methods Working with seniors living in 5 congregate housing residencies in Calgary, the project uses a mixed method approach to develop grounded measures of the social capital of seniors. The project integrates both qualitative and quantitative methods in a 3-phase research design: 1 qualitative, 2 quantitative, and 3 qualitative. Phase 1 uses gender-specific focus groups; phase 2 involves the administration of individual surveys that include a social network module; and phase 3 uses anamolous-case interviews. Not only does the study design allow us to develop grounded measures of social capital but it also permits us to test how well the three methods work separately, and how well they fit together to achieve project goals. This article describes the selection of the study population, the multiple methods used in the research and a brief discussion of our conceptualization and measurement of social capital.
DEFF Research Database (Denmark)
Svendsen, Gunnar Lind Haase
of capital means a coherent stock of capital, including social, cultural and physical capital, which belongs to a local community. The case of civic organization in rural Denmark 1800-1900 shows how the three capitals successively acted as driving forces: physical capital about year 1800, social capital...... about year 1880, and cultural capital about year 1900. In each case, one form of capital changed the two others in a chain reaction process, which ultimately led to a major reorganization of the triads of capital in the local rural communities....
Energy Technology Data Exchange (ETDEWEB)
Fernandez Izard, J. A.
2005-07-01
The energy, services and technology group, Union Fenosa has grown during recent year staking advantage of knowledge acquired in its own transformation process. In which appropriate intangible management has played a major role. In 1999, a project was started in order to elaborate an intellectual Capital management model elaborate an intellectual Capital management model based on three capitals, human, structural and relational. Following 5 years of experience, the model has proved itself as a powerful communication and management tool to transmit to analysts, market and employees the value of intangible within the Group. (Author)
DEFF Research Database (Denmark)
Bukh, Per Nikolaj; Christensen, Karina Skovvang
2015-01-01
Intellectual capital (IC) consists of human capital, organizational capital, and relational capital, and their relationships. It has been said to be important to explain the difference between market value and book value of a firm, but measurement of IC is more likely to be important because...
DEFF Research Database (Denmark)
Pittini, Riccardo; Zhang, Zhe; Andersen, Michael A. E.
2013-01-01
Energy production from renewable energy sources is continuously varying, for this reason energy storage is becoming more and more important as the percentage of green energy increases. Newly developed fuel cells can operate in reverse mode as electrolyzer cells; therefore, they are becoming...... current. Dc-dc converter efficiency plays a fundamental role in the overall system efficiency since processed energy is always flowing through the converter; for this reason, loss analysis and optimization are a key component of the converter design. The paper presents an isolated full bridge boost dc...
Capital Cost Optimization for Prefabrication: A Factor Analysis Evaluation Model
Directory of Open Access Journals (Sweden)
Hong Xue
2018-01-01
Full Text Available High capital cost is a significant hindrance to the promotion of prefabrication. In order to optimize cost management and reduce capital cost, this study aims to explore the latent factors and factor analysis evaluation model. Semi-structured interviews were conducted to explore potential variables and then questionnaire survey was employed to collect professionals’ views on their effects. After data collection, exploratory factor analysis was adopted to explore the latent factors. Seven latent factors were identified, including “Management Index”, “Construction Dissipation Index”, “Productivity Index”, “Design Efficiency Index”, “Transport Dissipation Index”, “Material increment Index” and “Depreciation amortization Index”. With these latent factors, a factor analysis evaluation model (FAEM, divided into factor analysis model (FAM and comprehensive evaluation model (CEM, was established. The FAM was used to explore the effect of observed variables on the high capital cost of prefabrication, while the CEM was used to evaluate comprehensive cost management level on prefabrication projects. Case studies were conducted to verify the models. The results revealed that collaborative management had a positive effect on capital cost of prefabrication. Material increment costs and labor costs had significant impacts on production cost. This study demonstrated the potential of on-site management and standardization design to reduce capital cost. Hence, collaborative management is necessary for cost management of prefabrication. Innovation and detailed design were needed to improve cost performance. The new form of precast component factories can be explored to reduce transportation cost. Meanwhile, targeted strategies can be adopted for different prefabrication projects. The findings optimized the capital cost and improved the cost performance through providing an evaluation and optimization model, which helps managers to
12 CFR 1229.5 - Capital distributions for adequately capitalized Banks.
2010-01-01
... capitalized Banks. 1229.5 Section 1229.5 Banks and Banking FEDERAL HOUSING FINANCE AGENCY ENTITY REGULATIONS CAPITAL CLASSIFICATIONS AND PROMPT CORRECTIVE ACTION Federal Home Loan Banks § 1229.5 Capital... classification of adequately capitalized. A Bank may not make a capital distribution if such distribution would...
Fuel cycle financing, capital requirements and sources of funds
International Nuclear Information System (INIS)
Manderbach, R.W.
1977-01-01
An issue of global importance today is the economic case for nuclear power and the conservation of precious fossil resources. A question important to all of us is can sufficient financial resources be attracted to the nuclear industry in order to develop a complete fuel cycle industry capable of meeting the requirements of a global nuclear power industry. Future growth of the nuclear power industry will depend to a large extent on the timely development of a private competitive industry covering the total fuel cycle. The report of the Edison Electric Institute on Nuclear Fuels Supply estimates that by 1985 initial capital investment in the nuclear fuel cycle will total $15 billion and by the year 2000, $60 billion will be required. Although undoubtedly the amount of funding projected is manageable from a global availability standpoint, there is a hesitancy to commit financial resources to certain segments of the fuel cycle. This is because of the many unresolved problems in connection with the nuclear industry such as uncertainty regarding local and international governmental regulations and legislation, environmental and alternative technological considerations coupled, of course, with the substantial capital long term commitments needed in each of the several segments of the processes. Activities associated with the nuclear fuel cycle have unique investment requirements. Investments are needed in many diverse unrelated fields such as resource development and high technology process some of which are not yet fully commercialized. Sources of capital will be examined on a national scale, such as net earnings, depreciation, capital market and public subsidies. The paper also examines, in the broader context, capital investments in highly industrialized and developing countries as well as discussing the possible areas of Government guarantees and financing. The intensive capital required in certain segments of the cycle, which are to be developed by private
2013-10-22
..., Standardized Approach for Risk-Weighted Assets, Market Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule, and Market Risk Capital Rule AGENCY: Federal Deposit Insurance... Assets, Market Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule, and...
Community Gardening, Neighborhood Meetings, and Social Capital
Alaimo, Katherine; Reischl, Thomas M.; Allen, Julie Ober
2010-01-01
This study examined associations between participation in community gardening/beautification projects and neighborhood meetings with perceptions of social capital at both the individual and neighborhood levels. Data were analyzed from a cross-sectional stratified random telephone survey conducted in Flint, Michigan (N=1916). Hierarchical linear…
Bernal, Regina Tomie Ivata; Malta, Deborah Carvalho; Iser, Betine Pinto Moehlecke; Monteiro, Rosane Aparecida
2016-01-01
to present the indicators' projection method of the Strategic Action Plan for Tackling Chronic Non-Communicable Diseases (NCDs) in Brazilian State capitals and the Federal District, 2012-2022. simple linear regression model was used to calculate the indicators' projections with data from the Surveillance System of Risk and Protective Factors for Chronic Diseases by Telephone Survey (Vigitel). in most of the capitals, there was an increase in the prevalence of obesity (annual change: 0.36%;1.29%), overweight (annual change: 1.11%;2.00%), recommended (annual change: 1.45%;2.66%) and regular (annual change: 0.45%;1.46%) consumption of fruits and vegetables; smoking presented a decreasing trend (annual change: -1.34%;-0.20%); whereas physical inactivity, heavy drinking and mammography and Pap smears examinations were stable. most of the goals are possible; however, effective actions are necessary, especially for tackling overweight and heavy drinking.
Human capital needs - teaching, training and coordination for nuclear fuel cycle
Energy Technology Data Exchange (ETDEWEB)
Retegan, T.; Ekberg, C. [Department of Chemistry and Biological Engineering, Nuclear Chemistry, Chalmers University of Technology, Kemivaegen 4, 41296 Gothenburg (Sweden); John, J. [Department of Nuclear Chemistry, Faculty of Nuclear Sciences and Physical Engineering, Czech Technical University in Prague, Brehova 7, 115 19 Prague 1 (Czech Republic); Nordlund, A. [Nuclear Engineering, Chalmers University of Technology, Kemivaegen 4, 41296 Gothenburg (Sweden)
2013-07-01
Human capital is the accumulation of competencies, knowledge, social and creativity skills and personality attributes, which are necessary to perform work so as to produce economic value. In the frame of the nuclear fuel cycle, this is of paramount importance that the right human capital exists and in Europe this is fostered by a series of integrated or directed projects. The teaching, training and coordination will be discussed in the frame of University curricula with examples from several programs, like e.g. the Master of Nuclear Engineering at Chalmers University, Sweden and two FP7 EURATOM Projects: CINCH - a project for cooperation in nuclear chemistry - and ASGARD - a research project on advanced or novel nuclear fuels and their reprocessing issues for generation IV reactors. The integration of the university curricula in the market needs but also the anchoring in the research and future fuel cycles will be also discussed, with examples from the ASGARD project. (authors)
Human capital needs - teaching, training and coordination for nuclear fuel cycle
International Nuclear Information System (INIS)
Retegan, T.; Ekberg, C.; John, J.; Nordlund, A.
2013-01-01
Human capital is the accumulation of competencies, knowledge, social and creativity skills and personality attributes, which are necessary to perform work so as to produce economic value. In the frame of the nuclear fuel cycle, this is of paramount importance that the right human capital exists and in Europe this is fostered by a series of integrated or directed projects. The teaching, training and coordination will be discussed in the frame of University curricula with examples from several programs, like e.g. the Master of Nuclear Engineering at Chalmers University, Sweden and two FP7 EURATOM Projects: CINCH - a project for cooperation in nuclear chemistry - and ASGARD - a research project on advanced or novel nuclear fuels and their reprocessing issues for generation IV reactors. The integration of the university curricula in the market needs but also the anchoring in the research and future fuel cycles will be also discussed, with examples from the ASGARD project. (authors)
Ciemat Relational Capital: Institutional Presence
International Nuclear Information System (INIS)
Vaquero Ortiz, E. M.; González Pineda, L. M.; Cascante Díaz, E.
2015-01-01
The resources in any organization for its activity development can be divided into two main groups: tangible assets and intangible assets. In recent decades there has been a recognition of the importance of the intangible assets as value generators for the development and growth of organizations. And the so called Relational Capital is among them Relational Capital arises from the relationship processes that an organization maintains with external agents. Thus, in the case of a public research institution, such as CIEMAT, it includes the relations with projects financing organizations, with partners and with customers (both public and private entities which are serviced), as well as the institutional presence understood as the participation in discussion and coordination forums (foundations, associations, committees…). This report presents a study of CIEMAT institutional presence in the year 2015.
Directory of Open Access Journals (Sweden)
Gustavo da Silva Motta
2012-09-01
Full Text Available The aim of this article is to assess the potential of using scientometric and patentometric indicators as a way of instrumentalizing the selection process of projects for seed capital funding. There is an increasing interest in technology based enterprises for their capacity to contribute to economic and social development, but there is also some difficulty in assessing non-financial criteria associated with technology for the purposes of financial funding. Thus, this research selected the case of the first enterprise invested in by the largest seed capital fund in Brazil, in order to create scientific and technological indicators and to assess the extent to which these indicators may contribute to understanding the market potential of the technology once it is assessed. It was concluded that scientometric and patentometric indicators favour the assessment process for non-financial criteria, in particular those criteria dealt with in this study: technology, market, divestment, and team.
THE CAPITAL STRUCTURE OF VENTURE CAPITAL FIRMS IN INDONESIA
Directory of Open Access Journals (Sweden)
Andi Buchari
2016-10-01
Full Text Available Venture capital (VC is an important fund source for small and medium enterprises (SMEs and start up, particularly to deliver its main product of equity participation. Therefore, capital structure and factors that affect it are very crucial. This study aims to analyze the capital structure of VC firms in Indonesia using econometric model of panel data regression. This study utilizes secondary data of six years period (2009-2014 monthly financial statements of 27 samples out of 58 VC firms to form 1,944 observations. The study reveals that capital structure of VC firms in Indonesia is dominated by debt/loan rather than capital with DER on average is 136.95%. In addition, the research confirms that VC firms’ capital structure is affected simultaneously by financial aspects which are asset size, profitability, liquidity, asset/investment quality, and earning asset structure. The attentions to financial aspects that affect the VC firms’ capital structure as well as other initiatives related to capital increases are necessary so that the VC firms could carry out its role effectively.
Capital simbólico e investigación. Una nota sobre el capital corporal
Directory of Open Access Journals (Sweden)
Luis Martín Uro
2006-11-01
Full Text Available In this text, Martin Uro, carries out a test about potential benefits of "teoría de campo (field theory" by Pierre Bourdieu in three different levels. The first one concern the project of investigation, the second level regards the statute of this theory within Social Theory Contemporary and finally, this last level is about the position of the person who writes in the investigation field. The emphasis is in the level of the phenomenon that is built possibly due to the analysis of phrases of documents produced in the investigation field. Lastly, conclusions will be carried out as to the use of the category physical capital to name a subspecie of symbolic capital in command of the physical practices for the participation of Physical Education in a jail in the province of Buenos Aires.
Capitals Cost and the Investments Actualisation Rate
Directory of Open Access Journals (Sweden)
Ion Stancu
2006-02-01
Full Text Available In this article, the author has assumed himself an assignment somehow ostentatious but useful, we believe, naming the one to illustrate by means of figures, the influence of both leverage and economic growth over the cost of capital, cost which will be used in capital budgeting. This synthesis is meant to be a forthcoming approach to a later investigation of the problems raised by the estimation of the cost of capital in the specific conditions of both the financial market in Romania and the quality of the economic-financial information, information available for this estimation. The discount rate for an investment project (kinv with a risk equal to the risk undertaken by the enterprise and financed within the firm’s capital structure itself (having the same leverage is equal to the (weighted average cost of capital in the respective risk class (k. Under these circumstances, it is interesting to find out this opportunity cost of capital invested in a medium-sized enterprise: a with investments in rebuilding the productive capacity, all equity financed; b with investments in rebuilding the productive capacity, financed both by equity and debt; c with new investments, all equity financed; d with new investments, financed both by equity and debt. Under these conditions, we estimate the effect of both the leverage and economic growth over the cost of capital (kec and kc to be able to determine in the end the discount rate of the analyzed investment (kinv: for enterprises with only maintaining investments (g = 0, unlevered (U and levered (L; for enterprises with growing investments (g > 0, unlevered (U and levered (L.
Capitals Cost and the Investments Actualisation Rate
Directory of Open Access Journals (Sweden)
Ion Stancu
2006-04-01
Full Text Available In this article, the author has assumed himself an assignment somehow ostentatious but useful, we believe, naming the one to illustrate by means of figures, the influence of both leverage and economic growth over the cost of capital, cost which will be used in capital budgeting. This synthesis is meant to be a forthcoming approach to a later investigation of the problems raised by the estimation of the cost of capital in the specific conditions of both the financial market in Romania and the quality of the economic-financial information, information available for this estimation. The discount rate for an investment project (kinv with a risk equal to the risk undertaken by the enterprise and financed within the firm’s capital structure itself (having the same leverage is equal to the (weighted average cost of capital in the respective risk class (k. Under these circumstances, it is interesting to find out this opportunity cost of capital invested in a medium-sized enterprise: a with investments in rebuilding the productive capacity, all equity financed; b with investments in rebuilding the productive capacity, financed both by equity and debt; c with new investments, all equity financed; d with new investments, financed both by equity and debt. Under these conditions, we estimate the effect of both the leverage and economic growth over the cost of capital (kec and kc to be able to determine in the end the discount rate of the analyzed investment (kinv: for enterprises with only maintaining investments (g = 0, unlevered (U and levered (L; for enterprises with growing investments (g > 0, unlevered (U and levered (L.
Thin Capitalization Rules and Multinational Firm Capital Structure
Blouin, J.; Huizinga, H.P.; Laeven, L.; Nicodeme, G.
2014-01-01
Abstract: This paper examines the impact of thin capitalization rules that limit the tax deductibility of interest on the capital structure of the foreign affiliates of US multinationals. We construct a new data set on thin capitalization rules in 54 countries for the period 1982-2004. Using
On the capitalization and cultivation of social capital
DEFF Research Database (Denmark)
Waldstrøm, Christian; Svendsen, Gunnar Lind Haase
2008-01-01
a dual focus on social capital as both immediately and potentially productive resources, i.e. assets that can be immediately capitalized by individuals as well as ‘cultivated' for future use. We argue that to further operationalize this concept we must distinguish between actual/potential social capital...
Capital and operating cost estimates for high temperature superconducting magnetic energy storage
International Nuclear Information System (INIS)
Schoenung, S.M.; Meier, W.R.; Fagaly, R.L.; Heiberger, M.; Stephens, R.B.; Leuer, J.A.; Guzman, R.A.
1992-01-01
Capital and operating costs have been estimated for mid-scale (2 to 200 Mwh) superconducting magnetic energy storage (SMES) designed to use high temperature superconductors (HTS). Capital costs are dominated by the cost of superconducting materials. Operating costs, primarily for regeneration, are significantly reduced for HTS-SMES in comparison to low temperature, conventional systems. This cost component is small compared to other O and M and capital components, when levelized annual costs are projected. In this paper, the developments required for HTS-SMES feasibility are discussed
Aspects of capital budgeting decision-making process of emerging markets transnational corporations
Alieva, D.
2012-01-01
Considers present-day aspects of capital budgeting decision-making in investment projects by transnational corporations (TNCs) in emerging markets. Discusses peculiarities of cash flows of TNC mother and project companies which influence the decision-making in project investment. A number of effective valuation techniques for multicurrency projects has been proposed, taking into account adjustments for various factors.
Capital mobility, tax competition, and lobbying for redistributive capital taxation
Lorz, Jens Oliver
1996-01-01
This paper analyzes the impact of international capital mobility on redistributive capital taxation and on lobbying activities by interest groups. It employs a model where different capital endowments lead to a conflict between households concerning their most preferred capital tax rate. Three main results are derived: First, redistributive source based capital taxes or subsidies decline as international tax competition intensifies. Second, lobbying activities of certain interest groups may e...
Capital Budgeting: a Tax Shields’ “Mirage”?
Directory of Open Access Journals (Sweden)
Victor DRAGOTĂ
2011-03-01
Full Text Available The mainstream in Finance studies recognizes the impact of tax shields on capital budgeting. This study offers some evidences regarding a bias in direct investment projects valuation in the case of taking into account of the allowance of recovery of the losses recorded in the past financial exercises from future profits as long as the classical indicators (e.g., Net Present Value are used. Also, this tax regime seems to favour the adoption of less-performer projects by lessperformer companies, as long as these projects should be otherwise rejected by a performer company.
How effective project management will add value to your uranium project
International Nuclear Information System (INIS)
Bradford, R.; Titley, M.
2014-01-01
Up until the recent Fukushima incident in March 2011 project activity in the uranium sector was driven by high uranium prices and merger and acquisition corporate activity. Soon after the incident, project development in the uranium sector collapsed and capital slowly dried up as Uranium prices dropped. New projects were put on hold, significantly reducing growth in the small to medium capital markets. Existing brownfield growth plans were halted as corporate strategies focused on improving the efficiency of existing assets. Recent positive sentiment supported by positive commentary in the uranium market, driven by an improved understanding of the supply and demand fundamentals and the restart of Japan’s nuclear reactors, has seen renewed corporate merger and acquisition activity. Developers are again taking an interest in new uranium project development.
Seeding Social Capital? Urban Community Gardening and Social Capital
DEFF Research Database (Denmark)
Christensen, Søren
2017-01-01
There is a continuing debate regarding urban community gardening’s benefits to local communities, and a particularly interesting branch of this debate has focused on community gardens capacity to encourage and facilitate social interaction, which may generate social capital. Social capital...... is an increasingly important concept in international research and measures of social capital have been associated with various measures of health. In a meta-analysis of literature published between 2000 and 2016 regarding community gardens’ social advantages, through the lens of the concept of social capital......, it is demonstrated that several studies substantiate that urban community gardens create social capital, both bonding and bridging, and exhibit indications of linking. It is moreover identified how there is much to be learned from future research, illuminating how urban community gardens can foster social capital...
Rethinking the economics of capital mobility and capital controls
Directory of Open Access Journals (Sweden)
Thomas I. Palley
2009-09-01
Full Text Available This paper reexamines the issue of international financial capital mobility, which is today's economic orthodoxy. Discussion is often framed in terms of the impossible trinity. That framing distorts discussion by representing capital mobility as having equal significance with sovereign monetary policy and control over exchange rates. It also distorts discussion by ignoring possibilities for coordinated monetary policy and exchange rates, and for managed capital flows. The case for capital mobility rests on neo-classical economic efficiency arguments and neo-liberal political arguments. The case against capital mobility is based on Keynesian macroeconomic inefficiency arguments, neo-Walrasian market failure arguments, and neo-Marxian arguments regarding distortion of the social structure of accumulation. Close examination shows the case for capital mobility to be extremely flimsy, pointing to the ideological dimension behind today's policy orthodoxy.
38 CFR 61.13 - Rating criteria for capital grant applications.
2010-07-01
... the project at the time of application. (h) Cost-effectiveness. VA will award up to 100 points for cost-effectiveness. Projects will be rated based on the cost and number of new supportive housing beds... capital grant applications. (a) Applicants that meet the threshold requirements in § 61.12 of this part...
Urban Renewal as an Urban Hegemony Project
Directory of Open Access Journals (Sweden)
Gönül İÇLİ
2012-01-01
Full Text Available There is an organic relationship between capitalism and urban space. Thisrelationship is a dynamic one which reproduces and renovates itself constantlyaccording to the conjuncture of each period and which evolves / changes inparallel with the necessities and rationalities of capital accumulation in historicalprocess. Therefore, neither reproduction of capitalist urban space with the regimeof capital accumulation nor the process of restructuring following a crisis in theregime of capital accumulation with spatial organization of capitalism can becompared independently. Today, in the concrete phase that capitalism hasreached, urban space has become one of the most important parts of direct capitalaccumulation under the hegemony of financial capital. In this context, urbantransformation projects and various strategies ofthe process becomes significantwith the instrumentalization of space by capital rationality. However, this processcarries the internal paradoxes of capitalism into the urban space at the same time,and cities, competing as candidates to be financial centres where the capital hasintensified and centralized, also transforms into spaces of violent socialpolarization. At this point, especially the reformation of squatter settlements has astrategic importance in the process of urban transformation and there are attemptsto attach the urban poor, who are the addressee of the process, under a widerurban hegemony project with the strategy of urban renovation.
Akcomak, S.
2009-01-01
There has been a recent surge of interest in social economics and social capital. Articles on social capital that are published in the last five years constitute more than 60 percent of all articles on social capital. Research on social capital is now massive and spans sociology, economics, management, political science and health sciences. Despite this interest there is still not a consensus on the definition and the measurement of social capital. This paper argues that this is due to lack o...
International Nuclear Information System (INIS)
Eysseric, C.; Chifflet, H.; Picart, S.; Adnet, J.M.
2000-01-01
As part of SESAME developments, a continuous electrochemical reactor has been tested for the in-line oxidation of various species as americium, ruthenium or cerium. The cerium(III) case has been chosen as a model to develop a predictive kinetic modeling of the reactor performances for oxidations. The optimal effect of an oxidation mediator may be described and the importance of some parameters was pointed out like the residence time, the anode material and the concentrations ratio between the substrate to oxidize and the mediator. This modeling will be extrapolated to the optimal electrolyzer design for the americium oxidation in the presence of lacunary heteropolyanions. (authors)
Continuities in the use of the intellectual capital statement approach
DEFF Research Database (Denmark)
Nielsen, Christian; Roslender, Robin; Schaper, Stefan
2016-01-01
The Danish Guideline Project and its principal output, the intellectual capital statement, have attracted only a very limited extent of empirical attention since the conclusion of the initiative in December 2002. The paper reports the findings of a series of semi-structured interviews with indivi...... of the implementation and evolution of these practices. The paper utilises a number of elements of institutional theory to organise the findings and to discuss the continuities in intellectual capital reporting practice documented therein....
Mars Atmospheric In Situ Resource Utilization Projects at the Kennedy Space Center
Muscatello, A. C.; Hintze, P. E.; Caraccio, A. J.; Bayliss, J. A.; Karr, L. J.; Paley, M. S.; Marone, M. J.; Gibson, T. L.; Surma, J. M.; Mansell, J. M.;
2016-01-01
The atmosphere of Mars, which is approximately 95% carbon dioxide (CO2), is a rich resource for the human exploration of the red planet, primarily by the production of rocket propellants and oxygen for life support. Three recent projects led by NASA's Kennedy Space Center have been investigating the processing of CO2. The first project successfully demonstrated the Mars Atmospheric Processing Module (APM), which freezes CO2 with cryocoolers and combines sublimated CO2 with hydrogen to make methane and water. The second project absorbs CO2 with Ionic Liquids and electrolyzes it with water to make methane and oxygen, but with limited success so far. A third project plans to recover up to 100% of the oxygen in spacecraft respiratory CO2. A combination of the Reverse Water Gas Shift reaction and the Boudouard reaction eventually fill the reactor up with carbon, stopping the process. A system to continuously remove and collect carbon is under construction.
Mars Atmospheric In Situ Resource Utilization Projects at the Kennedy Space Center
Muscatello, Anthony; Hintze, Paul; Meier, Anne; Bayliss, Jon; Karr, Laurel; Paley, Steve; Marone, Matt; Gibson, Tracy; Surma, Jan; Mansell, Matt;
2016-01-01
The atmosphere of Mars, which is 96 percent carbon dioxide (CO2), is a rich resource for the human exploration of the red planet, primarily by the production of rocket propellants and oxygen for life support. Three recent projects led by NASAs Kennedy Space Center have been investigating the processing of CO2. The first project successfully demonstrated the Mars Atmospheric Processing Module (APM), which freezes CO2 with cryocoolers and combines sublimated CO2 with hydrogen to make methane and water. The second project absorbs CO2 with Ionic Liquids and electrolyzes it with water to make methane and oxygen, but with limited success so far. A third project plans to recover up to 100 of the oxygen in spacecraft respiratory CO2. A combination of the Reverse Water Gas Shift reaction and the Boudouard reaction eventually fill the reactor up with carbon, stopping the process. A system to continuously remove and collect carbon has been tested with encouraging results.
Capital yields assessment trough cross section production function
Czech Academy of Sciences Publication Activity Database
Kodera, Jan; Pánková, V.
2001-01-01
Roč. 8, č. 14 (2001), s. 79-87 ISSN 1212-074X R&D Projects: GA ČR GA402/00/0439 Institutional research plan: AV0Z1075907 Keywords : yield of capital * cross-section production function * maximisation of profit Subject RIV: AH - Economics
Regional unemployment and human capital in transition economies
Czech Academy of Sciences Publication Activity Database
Jurajda, Štěpán; Terrell, K.
2009-01-01
Roč. 17, č. 2 (2009), s. 241-274 ISSN 0967-0750 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : unemployment * human capital * regional labour markets Subject RIV: AH - Economics Impact factor: 0.774, year: 2009
Measuring Social Capital Change Using Ripple Mapping
Baker, Barbara; Johannes, Elaine M.
2013-01-01
This article provides a detailed description of how to implement a ripple mapping activity to assess youth program effects on community capital and concludes with examples from Maine and Kansas. The maps lead to group reflection on project outcomes and further research and evaluation questions for group members. The results from five Maine…
Instantaneous Project Controls: Current Status, State of the Art, Benefits, and Strategies
Abbaszadegan, Amin
2016-01-01
Despite advancements in construction and construction-related technology, capital project performance deviations, typically overruns, remain endemic within the capital projects industry. Currently, management is generally unaware of the current status of their projects, and thus monitoring and control of projects are not achieved effectively. In…
The Impact of Capital Structure on Economic Capital and Risk Adjusted Performance
Porteous, Bruce; Tapadar, Pradip
2008-01-01
The impact that capital structure and capital asset allocation have on financial services firm economic capital and risk adjusted performance is considered. A stochastic modelling approach is used in conjunction with banking and insurance examples. It is demonstrated that gearing up Tier 1 capital with Tier 2 capital can be in the interests of bank Tier 1 capital providers, but may not always be so for insurance Tier 1 capital providers. It is also shown that, by allocating a bank or insuranc...
Tesfahunegn, S. G.; Ulleberg, Ø.; Vie, P. J. S.; Undeland, T. M.
Cost reduction is very critical in the pursuit of realizing more competitive clean and sustainable energy systems. In line with this goal a control method that enables minimization of the cost associated with performance and life time degradation of fuel cell and electrolyzer, and cost of battery replacement in PV/hydrogen standalone power systems is developed. The method uses the advantage of existing peak shaving battery to suppress short-term PV and load fluctuations while reducing impact on the cycle life of the battery itself. This is realized by diverting short-term cyclic charge/discharge events induced by PV/load power fluctuations to the upper band of the battery state of charge regime while operating the fuel cell and electrolyzer systems along stable (smooth) power curves. Comparative studies of the developed method with two other reference cases demonstrate that the proposed method fares better with respect to defined performance indices as fluctuation suppression rate and mean state of charge. Modeling of power electronics and design of controllers used in the study are also briefly discussed in Appendix A.
Putland, Christine; Baum, Fran; Ziersch, Anna; Arthurson, Kathy; Pomagalska, Dorota
2013-05-29
Mounting evidence linking aspects of social capital to health and wellbeing outcomes, in particular to reducing health inequities, has led to intense interest in social capital theory within public health in recent decades. As a result, governments internationally are designing interventions to improve health and wellbeing by addressing levels of social capital in communities. The application of theory to practice is uneven, however, reflecting differing views on the pathways between social capital and health, and divergent theories about social capital itself. Unreliable implementation may restrict the potential to contribute to health equity by this means, yet to date there has been limited investigation of how the theory is interpreted at the level of policy and then translated into practice. The paper outlines a collaborative research project designed to address this knowledge deficit in order to inform more effective implementation. Undertaken in partnership with government departments, the study explored the application of social capital theory in programs designed to promote health and wellbeing in Adelaide, South Australia. It comprised three case studies of community-based practice, employing qualitative interviews and focus groups with community participants, practitioners, program managers and policy makers, to examine the ways in which the concept was interpreted and operationalized and identify the factors influencing success. These key lessons informed the development of practical resources comprising a guide for practitioners and briefing for policy makers. Overall the study showed that effective community projects can contribute to population health and wellbeing and reducing health inequities. Of specific relevance to this paper, however, is the finding that community projects rely for their effectiveness on a broader commitment expressed through policies and frameworks at the highest level of government decision making. In particular this
The capital expenditure process for the health care supervisor.
Rogers, M M
1993-12-01
Competition for health care capital dollars has increased as third-party and government reimbursement decreases, patient volume decreases, and alternative services increase. Given this rationing situation, it is more important than ever that the health care supervisor carefully document and present a capital expenditure request. This request should outline skillfully the benefits and costs of undertaking a new service or replacing an old asset. A supervisor who can quantify the costs and benefits of a project and utilize one of the four common capital budgeting techniques: payback period, net present value, profitability index, or internal rate of return, will certainly be taking a step in the right direction for ensuring a serious evaluation of his or her proposal. This article attempts to explain this process using both narrative and quantitative examples.
Santo, David; Graça, Ana; Nunes, Carla; Quintas, Célia
2018-04-01
These studies were aimed at assessing the growing capacity of Escherichia coli and Cronobacter sakazakii and the effectiveness of Ultraviolet-C (UV-C) radiation, acidic electrolyzed (AEW) and neutral electrolyzed (NEW) waters in the inhibition of these bacteria on minimally processed 'Tommy Atkins' mangoes (MPM). The fruits were contaminated by dip inoculation and kept 10 days at 4, 8, 12 and 20 °C while enumerating bacteria. Contaminated mangoes were disinfected using UV-C (2.5, 5, 7.5 and 10 kJ/m 2 ), AEW, NEW and sodium hypochlorite (SH) and the microorganisms were monitored. None of the enterobacteria grew at 4, 8 and 12 °C regardless of having persisted during the 10-day period. At 20 °C, E. coli and C. sakazakii grew, after adaption phases of 48 h and 24 h, to values of 8.7 and 8.5 log cfu/g at day eight, respectively. E. coli showed the highest reduction counts on the MPM washed with NEW and SH (2.2 log cfu/g). UV-C was more effective in reducing C. sakazakii (2.4-2.6 log cfu/g), when compared to AEW, NEW and SH (1.2-1.8 log cfu/g). The efficacy of decontamination technologies depends on microorganisms, highlighting the importance of preventing contamination at the primary production and of combining different methods to increase the safety of fresh-cut fruits. Copyright © 2017 Elsevier Ltd. All rights reserved.
Fuel-cycle financing, capital requirements and sources of funds
International Nuclear Information System (INIS)
Manderbach, R.W.
1977-01-01
An issue of global importance today is the economic case fro nuclear power and the conservation of precious fossil resources. An important question is whether sufficient financial resources can be attracted to the nuclear industry in order to develop a complete fuel-cycle industry capable of meeting the requirements of a global nuclear power industry. Future growth of the nuclear power industry will depend largely on the timely development of a private competitive industry covering the total fuel cycle. The report of the Edison Electric Institute on Nuclear Fuels Supply estimates that by 1985 initial capital investmentor in the nuclear fuel cycle will total US$15x10 9 and by the year 2000, US$60x10 9 will be required. Although the amount of funding projected is manageable from a global availability standpoint, there is a hesitancy to commit financial resources to certain segments of the fuel cycle, because of the many unresolved problems in connection with the nuclear industry - uncertainty regarding local and international governmental regulations and legislation, environmental and alternative technological considerations coupled with the substantial long-term capital commitments needed in each of the several segments of the processes. Activities associated with the nuclear fuel cycle have unique investment requirements, which are needed in many diverse unrelated fields such as resource development and high technology process. This paper examines sources of capital on a national scale, such as net earnings, depreciation, capital market and public subsidies; and, in the broader context, capital investments in highly industrialized and developing countries. Possible areas of government guarantees and financing; and the situation on financing fuel-cycle projects in the USA and in other countries is also discussed. Comments are included on the money market and investment climate in developing countries, particularly regarding the development of uranium resources
Louisiana Airport System Plan Five-Year Capital Improvement Program.
1992-07-01
The Louisiana Airport System Plan (LASP) Five-Year-Capital Improvement Program (CIP) is a development plan for all commercial service, reliever, and general aviation airports in Louisiana. It is a detailed listing of potential projects based on the a...
Regional unemployment and human capital in transition economies
Czech Academy of Sciences Publication Activity Database
Jurajda, Štěpán; Terrell, K.
-, č. 345 (2007), s. 1-34 ISSN 1211-3298 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : unemployment * human capital * regional labor markets Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp345.pdf
Regional unemployment and human capital in transition economies
Czech Academy of Sciences Publication Activity Database
Jurajda, Štěpán; Terrell, K.
-, č. 6569 (2007), s. 1-34 ISSN 0265-8003 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : human capital * unemployment * labour mobility Subject RIV: AH - Economics http://www.cepr.org/pubs/new-dps/dplist.asp?dpno=6569.asp
Directory of Open Access Journals (Sweden)
Luiz Antonio Joia
2009-12-01
Full Text Available Este artigo mostra a variação de capital intelectual em organizações públicas envolvidas em empreendimentos government-to-government (G2G. Para tanto, um frame heurístico foi desenvolvido a fim de avaliar o impacto de projetos G2G nos componentes do capital intelectual de agências públicas, isto é, em seus capitais humano, organizacional, de relacionamento e de inovação. Aplicando-se esse frame heurístico a 30 empreendimentos G2G no Brasil, ligando o Banco Central com os tribunais de justiça, detectou-se um impacto positivo no capital intelectual das organizações envolvidas nesses empreendimentos. Além disso, verificou-se que tais empreendimentos G2G influenciaram os componentes do capital intelectual de forma homogênea. A partir daí, o frame foi validado por meio de uma elevada e positiva correlação entre a variação do capital intelectual nas organizações públicas e a percepção de valor dos funcionários envolvidos nesses mesmos empreendimentos. Finalmente, adicionalmente às limitações da pesquisa, algumas conclusões são apresentadas a gestores públicos, practitioners e acadêmicos, para que seja entendido o potencial de uso da teoria do capital intelectual para avaliação de iniciativas de governo eletrônicoThis article shows the intellectual capital variation in public organizations involved in government-to-government (G2G enterprises. A heuristic frame was developed to measure the impact of G2G projects on the intellectual capital components of public agencies, i.e., on their human, organizational, relational and innovative capitals. This heuristic frame was applied to 30 G2G enterprises in Brazil connecting the Central Bank to the courts of justice and revealed a positive impact on the intellectual capital of the organizations involved. Furthermore, these G2G enterprises influenced the intellectual capital components uniformly. Then the frame was validated by means of a high and positive correlation
Final Report: Hydrogen Production Pathways Cost Analysis (2013 – 2016)
Energy Technology Data Exchange (ETDEWEB)
James, Brian David [Strategic Analysis Inc., Arlington, VA (United States); DeSantis, Daniel Allan [Strategic Analysis Inc., Arlington, VA (United States); Saur, Genevieve [National Renewable Energy Lab. (NREL), Golden, CO (United States)
2016-09-30
This report summarizes work conducted under a three year Department of Energy (DOE) funded project to Strategic Analysis, Inc. (SA) to analyze multiple hydrogen (H2) production technologies and project their corresponding levelized production cost of H2. The analysis was conducted using the H2A Hydrogen Analysis Tool developed by the DOE and National Renewable Energy Laboratory (NREL). The project was led by SA but conducted in close collaboration with the NREL and Argonne National Laboratory (ANL). In-depth techno-economic analysis (TEA) of five different H2 production methods was conducted. These TEAs developed projections for capital costs, fuel/feedstock usage, energy usage, indirect capital costs, land usage, labor requirements, and other parameters, for each H2 production pathway, and use the resulting cost and system parameters as inputs into the H2A discounted cash flow model to project the production cost of H2 ($/kgH2). Five technologies were analyzed as part of the project and are summarized in this report: Proton Exchange Membrane technology (PEM), High temperature solid oxide electrolysis cell technology (SOEC), Dark fermentation of biomass for H2 production, H2 production via Monolithic Piston-Type Reactors with rapid swing reforming and regeneration reactions, and Reformer-Electrolyzer-Purifier (REP) technology developed by Fuel Cell Energy, Inc. (FCE).
Human Capital and Optimal Positive Taxation of Capital Income
B. Jacobs (Bas); A.L. Bovenberg (Lans)
2005-01-01
textabstractThis paper analyzes optimal linear taxes on capital and labor incomes in a life-cycle model of human capital investment, financial savings, and labor supply with heteroge- nous individuals. A dual income tax with a positive marginal tax rate on not only labor income but also capital
Project Evaluation under Inflation Condition
International Nuclear Information System (INIS)
Hindy, M.; El Missiry, P.
2004-01-01
This paper analyzes the role of inflation in capital budgeting and attempts to introduce solutions to such implication in order to make the appropriate decision for the firm' stockholders under these circumstances. Inflation leads to biasness in evaluating the investment projects, due to its impact on the cash flow, the discount rate, the initial investment cost, and the depreciation. This paper has shown that the capital budgeting process is not neutral with respect to inflation, as the output prices will raise as well as the operating and capital expenditures will also be adjusted due to inflation. In addition, it has shown that it is reasonable to expect that the cost of capital will increase as a result of an increase in the real interest rate, the inflation premium, and the cost of equity. Of critical importance is the basis used in calculating the annual depreciation which may lead to the transfer of wealth from the investment projects to the government and will result in underestimating the net present value of the investment projects, if these depreciation charges is calculated based upon the historical values and not on the replacement cost of the fixed assets
Energy Technology Data Exchange (ETDEWEB)
Jahnke, Fred C. [FuelCell Energy, Inc., Danbury, CT (United States)
2017-03-28
FuelCell Energy with support from the Department of Energy’s Office of Energy Efficiency and Renewable Energy (EERE) has investigated the production of low-cost, low CO2 hydrogen using a molten carbonate fuel cell operating as an electrolyzer. We confirmed the feasibility of the technology by testing a large-scale short stack. Economic analysis was done with the assistance of the National Fuel Cell Center at the University of California, Irvine and we found the technology to be attractive, especially for distributed hydrogen. We explored the performance under various operating parameters and developed an accurate model for further analysis and development calculations. We achieved the expected results, meeting all program goals. We identified additional uses of the technology such as for CO2 capture, power storage, and power load leveling.
From political capitalism to clientelist capitalism? The case of Croatia
Vladimir Cvijanovic; Denis Redzepagic
2011-01-01
The paper analyses the typology of capitalism in Croatia. The Croatian form of capitalism is specific, in form and origin, with links between the pre-independence and post-independence periods, implying that capitalism has gradually evolved – from the political during the eighties towards current clientelistic capitalism. The manufacturing focus aims to facilitate the analysis of institutional, political and economic changes over the past forty years, emphasising the implications of instituti...
The Role of Intellectual Capital and Entrepreneurial Characteristics as Innovation Drivers
Directory of Open Access Journals (Sweden)
Nadia Ugalde-Binda
2014-05-01
Full Text Available Innovation and entrepreneurship are essential organizational strategies to find a way out of the world crisis affecting today’s firms. Thus, the study of how organizational factors, like intellectual capital or entrepreneur characteristics, affects the success of an innovative entrepreneurial project is of utmost importance in helping current organizations find a solution to this problem. Intellectual capital involves investment in human, structural and relational capital. Consequently, our research goal centres on analyzing the influence of intellectual capital as well as the personal characteristics of entrepreneurs on the innovation results. This phenomenon remains unexplored in the case of micro and small firms. Our paper focuses on a particular context where small firms represent a key role in the industry: the case of Costa Rica. We used both quantitative and qualitative methodologies in order to develop the analysis. Our first results show a positive and significant relationship between structural and relational capital and innovation results; also, we can observe a positive relationship between a general measure of intellectual capital and innovation results. The case study illustrates how human capital and, specifically, the characteristics of the entrepreneur have an important influence on firm results. Our work contributes to show the relevance of intellectual capital on innovation success, and results encourage practitioners to invest in structural and relational capital and also improve the degree of planning of activities to obtain better results in the long term.
International Nuclear Information System (INIS)
Bucek, M.
1984-01-01
The evaluation of costs and environmental impacts of the construction and operation of nuclear power plants is concentrated into two problem areas: 1. the calculation of capital and operation costs for the prevention and minimization of envirommental damage and restoration of the environment, 2. the calculation of damage to the environment of nuclear power plant construction and operation. The ecological cost benefit of capital costs is assessed. In Czechoslovakia there does not exist any method for converting cost effectiveness of investments into environmental protection. This problem is incorporated in the general method of assessing capital cost benefit. The relations are given for total socio-economic capital cost benefit and cost benefit of investments into environmental protection. Ecological investment is not exempted from the investment fund and from the point of view of content may be devided into net and gross ecological investment and from the point of view of time into preventive and compensation ecological investment. In the USSR the method has beem developed of the ecological and economic evaluation of projects for the construction and reconstruction of production units which proceeds from the evaluation of the negative environmental impact of wastes. The basic relations are given of the benefit of ecological investments. (E.S.)
Sovereign cat bonds and infrastructure project financing.
Croson, David; Richter, Andreas
2003-06-01
We examine the opportunities for using catastrophe-linked securities (or equivalent forms of nondebt contingent capital) to reduce the total costs of funding infrastructure projects in emerging economies. Our objective is to elaborate on methods to reduce the necessity for unanticipated (emergency) project funding immediately after a natural disaster. We also place the existing explanations of sovereign-level contingent capital into a catastrophic risk management framework. In doing so, we address the following questions. (1) Why might catastrophe-linked securities be useful to a sovereign nation, over and above their usefulness for insurers and reinsurers? (2) Why are such financial instruments ideally suited for protecting infrastructure projects in emerging economies, under third-party sponsorship, from low-probability, high-consequence events that occur as a result of natural disasters? (3) How can the willingness to pay of a sovereign government in an emerging economy (or its external project sponsor), who values timely completion of infrastructure projects, for such instruments be calculated? To supplement our treatment of these questions, we use a multilayer spreadsheet-based model (in Microsoft Excel format) to calculate the overall cost reductions possible through the judicious use of catastrophe-based financial tools. We also report on numerical comparative statics on the value of contingent-capital financing to avoid project disruption based on varying costs of capital, probability and consequences of disasters, the feasibility of strategies for mid-stage project abandonment, and the timing of capital commitments to the infrastructure investment. We use these results to identify high-priority applications of catastrophe-linked securities so that maximal protection can be realized if the total number of catastrophe instruments is initially limited. The article concludes with potential extensions to our model and opportunities for future research.
2013-09-10
... countercyclical capital buffer was designed to take into account the macro-financial environment in which large... ability to raise capital to meet the increased minimum requirements in the current environment and upon...
Energy Technology Data Exchange (ETDEWEB)
Schutz, S.R.
1978-12-01
An energy source ready for immediate use on a commercial scale is solar energy in the form of On Site Solar Heating (OSSH) systems. These systems collect solar energy with rooftop panels, store excess energy in water storage tanks and can, in certain circumstances, provide 100% of the space heating and hot water required by the occupants of the residential or commercial structure on which the system is located. Such systems would take advantage of a free and inexhaustible energy source--sunlight. The principal drawback of such systems is the high initial capital cost. The solution would normally be a carefully worked out corporate financing plan. However, at the moment it is individual homeowners and not corporations who are attempting to finance these systems. As a result, the terms of finance are excessively stringent and constitute the main obstacle to the large scale market penetration of OSSH. This study analyzes the feasibility of OSSH as a private utility investment. Such systems would be installed and owned by private utilities and would displace other investment projects, principally electric generating plants. The return on OSSH is calculated on the basis of the cost to the consumer of the equivalent amount of electrical energy that is displaced by the OSSH system. The hurdle rate for investment in OSSH is calculated using the Sharpe--Lintner Capital Asset Pricing Model. The results of this study indicate that OSSH is a low risk investment having an appropriate hurdle rate of 7.9%. At this rate, OSSH investment appears marginally acceptable in northern California and unambiguously acceptable in southern California. The results also suggest that utility investment in OSSH should lead to a higher degree of financial leverage for utility companies without a concurrent deterioration in the risk class of utility equity.
The U.S. Intelligence Community's Five Year Strategic Human Capital Plan
National Research Council Canada - National Science Library
2006-01-01
.... The National Intelligence Strategy (NIS) requires a 5-year human capital strategy that will build an agile, "all source" workforce by projecting and planning for mission critical human resource requirements...
Energy Technology Data Exchange (ETDEWEB)
Yang, Gaoqiang; Mo, Jingke; Kang, Zhenye; Dohrmann, Yeshi; List, Frederick A.; Green, Johney B.; Babu, Sudarsanam S.; Zhang, Feng-Yuan
2018-04-01
Using additive manufacturing (AM) technology, a fundamental material and structure innovation was proposed to significantly increase the energy efficiency, and to reduce the weight, volume and component quantity of proton exchange membrane electrolyzer cells (PEMECs). Four conventional parts (liquid/gas diffusion layer, bipolar plate, gasket, and current distributor) in a PEMEC were integrated into one multifunctional AM plate without committing to tools or molds for the first time. In addition, since the interfacial contact resistances between those parts were eliminated, the comprehensive in-situ characterizations of AM cells showed that an excellent energy efficiency of up to 86.48% was achieved at 2 A/cm2 and 80 degrees C, and the hydrogen generation rate was increased by 61.81% compared to the conventional cell. More importantly, the highly complex inner structures of the AM integrated multifunctional plates also exhibit the potential to break limitations of conventional manufacture methods for hydrogen generation and to open a door for the development of other energy conversion devices, including fuel cells, solar cells and batteries.
External relationships and marketing practices in Serbian firms: The intangible capital perspective
Directory of Open Access Journals (Sweden)
Mitić Sanja
2015-01-01
Full Text Available This paper presents selected results of research on intangible capital in Serbian firms. The results are part of a broader research project, based on a survey of a sample of Serbian firms. The focus of the project is the various forms of intangible capital, and in this paper we analyse whether and to what degree firms build up their brand capital and increase marketing competencies, and what kind of external relationships they experience. The results provide the first insight into the development of the marketing resources of Serbian firms and show that this element of intangibles is gradually improving but still is at a low level. We find significant differences in the use of marketing resources between firms in regard to their size, international market experience, and ownership type. A more significant development of brand capital, external relationships, and marketing innovations and competencies is found in larger firms, firms with considerable international business experience compared to firms primarily oriented to the domestic market, and in foreign-owned firms. After identifying the strengths and weaknesses of marketing practices in Serbian enterprises we suggest some measures for overcoming the analyzed constraints in order to improve firms’ market positioning, especially in foreign markets.[Projekat Ministarstva nauke Republike Srbije, br. 179062
Neighborhood differences in social capital: a compositional artifact or a contextual construct?
Subramanian, S V; Lochner, Kimberly A; Kawachi, Ichiro
2003-03-01
Assessment of social capital at the neighborhood level is often based on aggregating individual perceptions of trust and reciprocity. Individual perceptions, meanwhile, are influenced through a range of individual attributes. This paper examines the socioeconomic and demographic attributes that systematically correlate with individual perception of social capital and determines the extent to which such attributes account for neighborhood differences in social capital. Using improved multilevel modeling procedures, we ascertain the extent to which differences in social capital perception can be ascribed to true neighborhood-level variations. The analysis is based on the 1994-95 Community Survey of the Project on Human Development in Chicago Neighborhoods (PHDCN). The response measure is based on survey respondent's perceptions of whether people in their neighborhood can be trusted. The results suggest that even after accounting for individual demographic (age, sex, race, marital status) and socioeconomic characteristics (income, education), significant neighborhood differences remain in individual perceptions of trust, substantiating the notion of social capital as a true contextual construct.
Hydrogen by electrolysis of water
1975-01-01
Hydrogen production by electrolytic decomposition of water is explained. Power efficiency, efficient energy utilization, and costs were emphasized. Four systems were considered: two were based on current electrolyzer technology using present efficiency values for electrical generation by fossil fired and nuclear thermal stations, and two using projected electrolyzer technology with advanced fossil and nuclear plants.
Capital Investments Plan for 288 Streets from Cluj-Napoca
Directory of Open Access Journals (Sweden)
Paul ZAI
2006-02-01
Full Text Available This study critically analyzes how the theoretical concept of Capital Investments Plan (CIP can be employed in order to better understand the financing decisions regarding various investment project undertaken by the Cluj-Napoca City Hall. Different financing scenarios are then analyzed.
Private equity and venture capital in South Africa: A comparison of project financing decisions
Directory of Open Access Journals (Sweden)
David Portmann
2013-09-01
Full Text Available This paper investigates the manner in which private equity and venture capital firms in South Africa assess investment opportunities. The analysis was facilitated using a survey containing both Likert-scale and open-ended questions. The key findings show that both private equity and venture capital firms rate the entrepreneur or management team higher than any other criterion or consideration. Private equity firms, however, emphasise financial criteria more than venture capitalists do. There is also an observable shift in the investment activities away from start-up funding, towards later-stage deals. Risk appetite has also declined post the financial crisis.
W. Erwin Diewert
2003-01-01
The paper revisits Harper, Berndt and Wood (1989) and calculates Canadian reproducible capital services aggregates under alternative assumptions about the form of depreciation, the opportunity cost of capital and the treatment of capital gains. Five different models of depreciation are considered: (1) one hoss shay; (2) straight line depreciation; (3) declining balance or geometric depreciation; (4) linearly declining efficiency profiles and (5) linearly increasing maintenance profiles. The l...
Dependent-Chance Programming Models for Capital Budgeting in Fuzzy Environments
Institute of Scientific and Technical Information of China (English)
LIANG Rui; GAO Jinwu
2008-01-01
Capital budgeting is concerned with maximizing the total net profit subject to budget constraints by selecting an appropriate combination of projects. This paper presents chance maximizing models for capital budgeting with fuzzy input data and multiple conflicting objectives. When the decision maker sets a prospec-tive profit level and wants to maximize the chances of the total profit achieving the prospective profit level, a fuzzy dependent-chance programming model, a fuzzy multi-objective dependent-chance programming model, and a fuzzy goal dependent-chance programming model are used to formulate the fuzzy capital budgeting problem. A fuzzy simulation based genetic algorithm is used to solve these models. Numerical examples are provided to illustrate the effectiveness of the simulation-based genetic algorithm and the po-tential applications of these models.
2013-10-11
... unlevel playing field between banking organizations and other financial services providers. For example, a... for banking organizations. The final rule consolidates three separate notices of proposed rulemaking... minimum capital requirement, a higher minimum tier 1 capital requirement, and, for banking organizations...
12 CFR 325.103 - Capital measures and capital category definitions.
2010-01-01
... STATEMENTS OF GENERAL POLICY CAPITAL MAINTENANCE Prompt Corrective Action § 325.103 Capital measures and... agreement, order, capital directive, or prompt corrective action directive issued by the FDIC pursuant to... CFR 28.15(b), or to comply with asset maintenance requirements pursuant to 12 CFR 28.20; or (B) The...
The Pro-Cyclical Impact of Basel III Regulatory Capital on Bank Capital Risk
Song, Guoxiang
2014-01-01
To raise the quality of regulatory capital, Basel III capital rules recognize unrealized gains and losses on all available-for-sale (AFS) securities in Common Equity Tier 1 Capital (CET1). However, by examining the correlations between U.S. GDP growth rate, interest rates and regulatory capital ratios computed using Basel III regulatory capital definition for six U.S. global systemically important banks (G-SIBs) since 2007, this chapter finds that Basel III regulatory capital will enhance the...
Directory of Open Access Journals (Sweden)
Danielle Taana Smith
2013-03-01
Full Text Available This study examines the participation of African Americans on social networking sites (SNS, and evaluates the degree to which African Americans engage in activities in the online environment to mitigate social capital deficits. Prior literature suggests that compared with whites, African Americans have less social capital that can enhance their socio-economic mobility. As such, my research question is: do African Americans enhance their social capital through their participation on SNS? I use nationally representative data collected from the Pew Internet and American Life Project to explore the research question. The results suggest that the online environment is potentially a space in which African Americans can lessen social capital deficits.
DEFF Research Database (Denmark)
Diaz de Cerio Mendaza, Iker; Bak-Jensen, Birgitte; Chen, Zhe
2013-01-01
Grid instabilities originated by unsteady generation, characteristic consequence of some renewable energy resources such as wind and solar power, claims for new power balance solutions in largely penetrated systems. Denmark's solid investment in these energy sources has awaked a need of rethinking...... about the future control and operation of the power system. A widespread idea to face these challenges is to have a flexible demand easily adjustable to the system variations. Electrothermal loads, electric vehicles and hydrogen generation are among the most mentioned technologies capable to respond......, under certain strategies, to these variations. This paper presents two DIgSILENT PowerFactory models: an alkaline electrolyzer and a vehicle to the grid system. The models were performed using DIgSILENT Simulation Language, aiming to be used for long-term distribution systems simulations. Two voltage...
ADN to BSN: lessons from human capital theory.
Graf, Christina M
2006-01-01
Currently, approximately 16% of associate degree nursing (ADN) graduates acquire baccalaureate or higher degrees. Human capital analysis demonstrated negative to minimal average returns on investment (ROI) in BSN education. Increasing the ROI may influence ADNs to pursue baccalaureate education and can be an effective strategy for meeting the projected need for BSN-prepared nurses.
Kidd, Luanne; Morris, Kenneth B.; Self, Tim
2006-01-01
The U.S. Vision for Space Exploration directs NASA to retire the Space Shuttle in 2010 and replace it with safe, reliable, and cost-effective space transportation systems for crew and cargo travel to the Moon, Mars, and beyond. Such emerging space transportation initiatives face massive organizational challenges, including building and nurturing an experienced, dedicated team with the right skills for the required tasks; allocating and tracking the fiscal capital invested in achieving technical progress against an integrated master schedule; and turning generated data into usehl knowledge that equips the team to design and develop superior products for customers and stakeholders. This paper discusses how NASA's Exploration Launch Projects Office, which is responsible for delivering these new launch vehicles, integrates these resources to create an engineering business environment that promotes mission success.
Project Finance Model for Small Contractors in USA
Directory of Open Access Journals (Sweden)
Jawahar Nesan
2012-11-01
Full Text Available Construction projects do not require a large capital outlay but a large working capital to start up the project. Unfortunately, for small contractors there are very limited options available from the banks or other lending institutions to cover this large working capital requirement in the absence of sufficient collateral. The “Project Finance” method presented in this paper is recommended as the most effective method for small contractors in the United States. The problems of small and start up contractors in funding their projects have been little addressed in the literature. The current financing practices were observed through both the literature review and interviews with contractors and bankers in the western Michigan area and subsequently a system has been proposed which could help a small start-up company seeking higher growth. The growth rates that can be achieved using the project finance system in contrast to the traditional “line of credit” arrangements as illustrated in this paper show that the project finance model is beneficial.
2010-01-01
... reverse within the year. Such projections should include the estimated effect of tax-planning strategies... charges for certain market risks into the risk-based capital ratio. When calculating their risk-based... supplemental rules to determine qualifying and excess capital, calculate risk-weighted assets, calculate market...
From political capitalism to clientelist capitalism? The case of Croatia
Directory of Open Access Journals (Sweden)
Denis Redžepagić
2011-12-01
Full Text Available The paper analyses the typology of capitalism in Croatia. The Croatian form of capitalism is specific, in form and origin, with links between the pre-independence and post-independence periods, implying that capitalism has gradually evolved – from the political during the eighties towards current clientelistic capitalism. The manufacturing focus aims to facilitate the analysis of institutional, political and economic changes over the past forty years, emphasising the implications of institutional changes which have to a great extent, apart from the war of course, influenced the evolution of capitalism. The paper finds that the transition generated a number of costs, mainly generated by the state (fall in employment, manufacturing and social capital. The claim that the manufacturing industry has inherited low competitiveness neglects the necessary discussion on the role of the state in the formation of industrial policy and market actions. It is also an ex post argument for the claim that restructuring should have been implemented prior to privatisation as this would reduce negative impacts. Institutional changes led to a drastic reduction of the role of the manufacturing sector in the economy. The main finding in this paper is that the change in the interaction between the financial and the real sectors of the economy, the educational system and industrial relations system exposed the vulnerability of the current institutional environment. Despite similarities, institutional advantages of political capitalism are lost in the new type of Croatian capitalism, due to the complexity of the double transition process and the institutional or socio-economic particularities.
Chance-constrained programming models for capital budgeting with NPV as fuzzy parameters
Huang, Xiaoxia
2007-01-01
In an uncertain economic environment, experts' knowledge about outlays and cash inflows of available projects consists of much vagueness instead of randomness. Investment outlays and annual net cash flows of a project are usually predicted by using experts' knowledge. Fuzzy variables can overcome the difficulties in predicting these parameters. In this paper, capital budgeting problem with fuzzy investment outlays and fuzzy annual net cash flows is studied based on credibility measure. Net present value (NPV) method is employed, and two fuzzy chance-constrained programming models for capital budgeting problem are provided. A fuzzy simulation-based genetic algorithm is provided for solving the proposed model problems. Two numerical examples are also presented to illustrate the modelling idea and the effectiveness of the proposed algorithm.
International Nuclear Information System (INIS)
2005-01-01
Many companies are now being forced to focus on careful budgeting to ensure that the capital costs of large-scale construction projects do not exceed their budgets. Operators are now investigating the role of supply chain management in reducing project costs. This conference provided a forum for the discussion of issues related to large construction projects for supply chain management in the oil and gas industry. Participants at the conference discussed methods of negotiating with contractors in order to manage higher prices for steel and other commodities. Best practices for maintaining effective purchaser-contractor relations were discussed along with cost benchmarks in contracts and management planning techniques for supply chain processes. The benefits of adopting vendor-managed inventory systems were also examined. Sourcing strategies were presented and issues related to transportation were reviewed along with various planning models. The conference featured 16 presentations. tabs., figs
Financing of Competing Projects with Venture Capital
Goldfain, Ekaterina; Kovac, Eugen
2005-01-01
We analyze innovation race in a moral hazard setting. We develop a model in which two competing entrepreneurs work independently on the same project. The entrepreneurs do not possess any wealth of their own and their research is financed by a venture capitalist. The project, if successful, generates a prize, which is to be shared between the winning entrepreneur and the venture capitalist. The venture capitalist cannot observe the allocation of funds he provides, which creates a moral hazard ...
Entrepreneurs’ human and social capital
DEFF Research Database (Denmark)
Shayegheh Ashourizadeh, Shayegheh; Rezaei, Shahamak; Schøtt, Thomas
2014-01-01
Abstract: It is widely acknowledged that entrepreneurs’ human capital in form of education and social capital in form of networking are mutually beneficial and also that both human and social capital benefit their performance. Here, the hypothesis is that human and social capital, in combination......, provide added value and jointly add a further boost to performance, specifically if the form of exporting. Global Entrepreneurship Monitor provides data on 52,946 entrepreneurs, who reported on exporting and networking for advice. Hierarchical linear modelling shows that human capital promotes social...... capital, that human capital and social capital (specifically networking in the international environment, work-place, professions and market, but not in the private sphere) both benefit export directly and that human capital amplifies the benefit of social capital, especially through international...
Ledenyov, Dimitri O.; Ledenyov, Viktor O.
2017-01-01
Investment in Capital Markets creates a strategic vision on the financial capital investment in the capital markets with the aim to get an increased return premium in the short and long time periods. The book is written with a main goal to explain the pros and cons of the financial capital investment in the capital markets, discussing the sophisticated investment concepts and techniques in the simple understandable readable general format language. We would like to highlight the three interes...
Ewing, Samuel D., Jr.; Maloney, Clifton H. W.
This minority capital resource handbook consists of a guide to raising capital for minority entrepreneurs and a listing of sources that provide such capital. The first section deals with the process of raising capital. The realities of raising capital, intermediaries and financial advisors, and assessing needs are outlined. Factors considered in…
DEFF Research Database (Denmark)
Paldam, Martin; Svendsen, Gert Tinggaard
2005-01-01
This report has two purposes: The first purpose is to present our 4-page questionnaire, which measures social capital. It is close to the main definitions of social capital and contains the most successful measures from the literature. Also it is easy to apply as discussed. The second purpose...... is to present the social capital database we have collected for 21 countries using the questionnaire. We do this by comparing the level of social capital in the countries covered. That is, the report compares the marginals from the 21 surveys....
Keskinen, Lindsey A; Burke, Angela; Annous, Bassam A
2009-06-30
This study compared the efficacy of chlorine (20-200 ppm), acidic electrolyzed water (50 ppm chlorine, pH 2.6), acidified sodium chlorite (20-200 ppm chlorite ion concentration, Sanova), and aqueous chlorine dioxide (20-200 ppm chlorite ion concentration, TriNova) washes in reducing populations of Escherichia coli O157:H7 on artificially inoculated lettuce. Fresh-cut leaves of Romaine or Iceberg lettuce were inoculated by immersion in water containing E. coli O157:H7 (8 log CFU/ml) for 5 min and dried in a salad spinner. Leaves (25 g) were then washed for 2 min, immediately or following 24 h of storage at 4 degrees C. The washing treatments containing chlorite ion concentrations of 100 and 200 ppm were the most effective against E. coli O157:H7 populations on Iceberg lettuce, with log reductions as high as 1.25 log CFU/g and 1.05 log CFU/g for TriNova and Sanova wash treatments, respectively. All other wash treatments resulted in population reductions of less than 1 log CFU/g. Chlorine (200 ppm), TriNova, Sanova, and acidic electrolyzed water were all equally effective against E. coli O157:H7 on Romaine, with log reductions of approximately 1 log CFU/g. The 20 ppm chlorine wash was as effective as the deionized water wash in reducing populations of E. coli O157:H7 on Romaine and Iceberg lettuce. Scanning electron microscopy indicated that E. coli O157:H7 that was incorporated into biofilms or located in damage lettuce tissue remained on the lettuce leaf, while individual cells on undamaged leaf surfaces were more likely to be washed away.
Specific and general human capital in an endogenous growth model
Czech Academy of Sciences Publication Activity Database
Jerbashian, Vahagn; Slobodyan, Sergey; Vourvachaki, E.
2015-01-01
Roč. 53, č. 3 (2015), s. 167-204 ISSN 0012-8775 R&D Projects: GA AV ČR IAA700850902 Institutional support: RVO:67985998 Keywords : economic growth * human capital types * education policy Subject RIV: AH - Economic s Impact factor: 0.404, year: 2015
Tax evasion, human capital, and productivity-induced tax rate reduction
Czech Academy of Sciences Publication Activity Database
Gillman, Max; Kejak, Michal
2014-01-01
Roč. 8, č. 1 (2014), s. 42-79 ISSN 1932-8575 R&D Projects: GA ČR GA13-34096S Institutional support: RVO:67985998 Keywords : tax evasion * human capital * tax rates and tables Subject RIV: AH - Economics Impact factor: 0.600, year: 2014
The Performance of Intellectual Capital
DEFF Research Database (Denmark)
Murthy, Vijaya; Mouritsen, Jan
2011-01-01
Purpose – This paper aims to analyse the relationship between intellectual capital and financial capital using a case study. This makes it possible to discuss how intellectual capital is related to value creation with a degree of nuance that is absent from most statistical studies of relationships...... between human, organisational, relational and financial capital. Design/methodology/approach – The paper uses a case study of a firm that invests in intellectual capital in order to develop financial capital. It traces the relationship between intellectual capital elements and financial capital via...... interviews. This allows the development of a nuanced account of the performance of intellectual capital. This account questions the universality of the linear model typically found in statistical studies. The model makes it possible to show how items of intellectual capital not only interact but also compete...
Directory of Open Access Journals (Sweden)
N. Grazhevska
2013-10-01
Full Text Available The article examines the impact of social capital characteristics of local communities on the effectiveness of the community-based approach to economic development. The conclusion that such social capital characteristics as (antipaternalism, solidarity and cooperation have the greatest importance for the economic development is made based on the analysis of UNDP and the European Union project “Community-based approach to local development”. It was hypothesized that the creation of community organizations could be an effective mechanism to actualize the existing social capital of rural communities in Ukraine.
Capital planning for clinical integration.
Grauman, Daniel M; Neff, Gerald; Johnson, Molly Martha
2011-04-01
When assessing the financial implications of a physician alignment and clinical integration initiative, a hospital should measure the initiative's potential ROI, perhaps best using a combination of net present value and payback period. The hospital should compare its own historical and projected performance with rating agency median benchmarks for key financial indicators of profitability, debt service, capital and cash flow, and liquidity. The hospital should also consider potential indirect benefits, such as retained outpatient/ancillary revenue, increased inpatient revenue, improved cost control, and improved quality and reporting transparency.
Cultural Capital: A Concept Analysis.
Ohashi, Yuki; Taguchi, Atsuko; Omori, Junko; Ozaki, Akiko
2017-07-01
Harnessing community assets may help public health nurses address health inequalities. Cultural factor is one such asset, which is assumed to be capital in a community. Cultural capital is a key concept for understanding the causes of public health issues. This paper provided an in-depth analysis of "cultural capital" as a concept. Rodgers' evolutionary methodology was used for concept analysis. Forty-two studies published in English between 1998 and 2015 were retrieved from MEDLINE by searching for "cultural capital" in the title field. Antecedents of cultural capital included "educational environment," "belongingness in one's social group," "existing health/social inequalities," and "daily behavior." Cultural capital's identified attributes were "social cultivation," "reproductive rubric," "practical knowledge," and "autogenic ability." Cultural capital's consequences were "improving productivity," "reducing health/social inequality," and "enhancing well-being." Cultural capital is defined as capital characterized by cultivation, rubric, knowledge, and ability. These aspects of cultural capital are typically autogenic, and accumulate and reproduce through lifelong community membership. Cultural capital reduces inequality and ultimately enhances the well-being of individuals and the community through bonding, bridging, and linking economic and social capital. © 2017 Wiley Periodicals, Inc.
Quarterly Aggregate Capital Input and the Cost of Capital for the
Subhash C. Sharma; Yijian He
1995-01-01
It is the flow of capital services, instead of the capital stock, along with the flows of other inputs which is related to the flows of outputs in economic theory of cost and production. In applied research, quite often to capture the dynamic phenomena which occurs within a year, there is a need to use quarterly data which may not be captured by annual data. However, quarterly data on capital input and the cost of capital are not readily available. Thus, in this paper the quarterly real and n...
Supplier Alliances for Engineered Equipment in Capital Projects
National Research Council Canada - National Science Library
Harper, Douglas
2003-01-01
.... Managing the engineered equipment is important during all phases of the project not only because of their high dollar value but also because the long manufacturing lead times often drive the overall project schedules...
Zhang, Jufang; Yang, Hongshun; Chan, Joel Zhi Yang
2018-03-01
We developed a portable flow-through, electrochemical sanitizing unit to produce near neutral pH electrolyzed water (producing NEW). Two methods of redirecting cathode yields back to the anode chamber and redirecting anode yields the cathode chamber were used. The NEW yields were evaluated, including: free available chlorine (FAC), oxidation-reduction potential (ORP), and pH. The performances of 2 electrodes (RuO 2 -IrO 2 /TiO 2 and IrO 2 -Ta 2 O 5 /TiO 2 ) were investigated. The unit produced NEW at pH 6.46 to 7.17, an ORP of 805.5 to 895.8 mV, and FAC of 3.7 to 82.0 mg/L. The NEW produced by redirecting cathode yields had stronger bactericidal effects than the NEW produced by redirecting anode yields or NEW produced by mixing the commercial unit's anode and cathode product (P portable flow-through, NEW-producing unit has great potential in a wide range of applications, such as organic farm, households, and small food industries. The examined sanitizing treatments showed effective control of Escherichia coli O157:H7 and Listeria monocytogenes. © 2018 Institute of Food Technologists®.
Health Literacy and Social Capital: What Role for Adult Literacy Partnerships and Pedagogy?
Black, Stephen; Balatti, Jo; Falk, Ian
2013-01-01
This paper makes the case for adult literacy (including numeracy) practitioners to play a greater role in health literacy initiatives in Australia. The paper draws on data from a national research project that investigated adult literacy partnerships and pedagogy viewed from a social capital perspective. The primary purpose of the project was to…
Phase II Final Project Report SBIR Project: "A High Efficiency PV to Hydrogen Energy System"
Energy Technology Data Exchange (ETDEWEB)
Slade, A; Turner, J; Stone, K; McConnell, R
2008-09-02
The innovative research conducted for this project contributed greatly to the understanding of generating low-cost hydrogen from solar energy. The project’s research identified two highly leveraging and complementary pathways. The first pathway is to dramatically increase the efficiency of converting sunlight into electricity. Improving solar electric conversion efficiency directly increases hydrogen production. This project produced a world record efficiency for silicon solar cells and contributed to another world record efficiency for a solar concentrator module using multijunction solar cells. The project’s literature review identified a second pathway in which wasted heat from the solar concentration process augments the electrolysis process generating hydrogen. One way to do this is to use a “heat mirror” that reflects the heat-producing infrared and transmits the visible spectrum to the solar cells; this also increases solar cell conversion efficiency. An economic analysis of this concept confirms that, if long-term concentrator photovoltaic (CPV) and solid-oxide electrolyzer cost goals can be achieved, hydrogen will be produced from solar energy cheaper than the cost of gasoline. The potential public benefits from this project are significant. The project has identified a potential energy source for the nation’s future electricity and transportation needs that is entirely “home grown” and carbon free. As CPV enter the nation’s utility markets, the opportunity for this approach to be successful is greatly increased. Amonix strongly recommends further exploration of this project’s findings.
Technology management of intellectual capital in the organization.
Бех, Юлія Володимирівна
2014-01-01
The article defined the totality of organizational tools methodological knowledge management, consisting of technologies, systems and methods. Revealed knowledge management software, formal and informal tools of intellectual capital management organization. By formal tools include expert control systems, artificial intelligence, automated decision-making systems, decision support systems and support systems work with clients. Informal tools (training, cross-functional project teams and intra)...
A different capitalism? : Guanxi-capitalism and the importance of family in modern China
Rühle, Susanne
2011-01-01
The emergence of Capitalism is said to always lead to extreme changes in the structure of a society. This view implies that Capitalism is a universal and unique concept that needs an explicit institutional framework and should not discriminate between a German or US Capitalism. In contrast, this work argues that the ‘ideal type’ of Capitalism in a Weberian sense does not exist. It will be demonstrated that Capitalism is not a concept that shapes a uniform institutional framework within every ...
DEFF Research Database (Denmark)
Larsen, Øjvind
2016-01-01
Piketty’s Capital in Twenty-First Century has posed a totally new platform for the discussion of the economy and capitalism. Piketty has reinvented the classical political economy founded by Adam Smith in his 1776 Wealth of Nations. Piketty has shown via massive historical research how growth...... and inequality have developed since 1793. Piketty’s conclusion is that the French Revolution did not change the existing inequality either in the medium or in the long term. Piketty’s prediction is that a new form of global capitalism will arise, patrimonial capitalism, in which inequality will develop further...
DEFF Research Database (Denmark)
Svendsen, Gert Tinggaard; Bjørnskov, Christian
2007-01-01
How to construct a robust measure of social capital? This paper contains two contributions. The first is an attempt to establish a broad social capital measure based on four indicators, the Freedom House Index, an index of perceived corruption from Transparency International, and scores on civic...... participation and generalized trust. This measure is then applied by comparing the level of social capital in 25 countries from Western and Eastern Europe. Our nine cluster analysis shows that Switzerland has the highest score, followed by the Netherlands and Scandinavia. At the other end of the continuum we...... find post-communist countries and Southern Italy. The findings for this specific sample suggest that institutions matter for social capital and the relationship between decentralization and social capital emerges as a promising line of inquiry. Thus, the highest scoring countries in the sample may...
DEFF Research Database (Denmark)
Prieur, Annick; Skjøtt-Larsen, Jakob; Rosenlund, Lennart
2008-01-01
Based on Danish survey data subjected to correspondence analysis, this article aims at carrying out a critical assessment of Pierre Bourdieu's theory of social differentiation in advanced societies as a multi-dimensional phenomenon. As his theory goes, capital volume (economic + cultural capital......) and capital composition (the relative weight of the two) are the main dimensions of social differentiation, which structure the space of social positions as well as the space of lifestyles. The central discussion of the article concerns the character of cultural capital, and the role it plays in the formation......, as those adhering to the preferences that are most typical for the cultural elite tend to simultaneously avoid or mark distance to popular expressions of taste. Fourth, are there traces of new forms of cultural capital? The study uncovers a cleavage between a global orientation or a form of cosmopolitanism...
Managerial autonomy, allocation of control rights, and optimal capital structure
Boot, A.W.A.; Thakor, A.V.
2011-01-01
We examine the design of control rights of external financiers, and how these interact with the firm's security issuance and capital structure when the firm's initial owners and managers may disagree with new investors over project choice. The first main result is an ex ante managerial preference
Forms of Social Capital in the Romanian Kinship
Directory of Open Access Journals (Sweden)
PETRU ILUŢ
2010-01-01
Full Text Available This study aims at providing a theoretical and methodological preamble to the more ample issue concerning the research project entitled „Modele de interacţiune între capitalul social informal şi formal; investigarea rolului de suport şi mediator al familiei lărgite (kinship" (Models of interactions between formal and informal social capital; investigating its role as support and mediator of kinship networks. However, it also includes certain empirical data from field studies and official statistics, especially concerning the Romanian single parent family. In the first part of the article, I outline the current trends in the development of the domestic group, while also commenting on the important issue of "right" and "wrong" in the structure and dynamics of the contemporary family and, as a consequence, I discuss the sensitive issue of "family values." At the same time I point out the major challenges in understanding social capital and, subsequently, of the forms thereof, and I suggest certain conceptual-theoretical solutions. The second part brings together classical ideas, but also innovations in the methodology and even in the epistemology of the optimal socio-human investigation in general, and concerning family social capital in particular. The third part focuses on certain functional mechanisms of social capital, especially in the case of the single parent family in Romania, by carrying out relevant comparisons with other countries.
Energy Technology Data Exchange (ETDEWEB)
Kim, Kwang Wook; Lee, E. H.; Moon, J. K. and others
2006-01-15
This project was aimed at the technology developments of electrode fabrication, electrolytic reactor design and fabrication, electrolytic processes and the analyses of electroytic reaction mechanisms, which were essential elements for the development of electrolytic systems to decompose or teat environmentally- friendly the several salts contained in waste solutions which are to be generated in the fields of nuclear/non-nuclear industries. Major research items carried our in this project were as follows; - Development of technologies to choose and fabricate the anodes and cathodes for the treatments of waste solutions containing nitrogen compounds and organics. - Development of a membrane electrolyzer stacked by mono-polar unit cells with independent series flow path of electrolytes - Development of an electrolyzer with a self-pH adjustment and an electrolytic process for ammonia decomposition by using the electrolyzer - Analysis of electrolytic reaction mechanism of ammonia - Development of an ion exchange membrane electrolyzer with only one discharge of pH-controlled electrolyte solution - Development of electrolytic dechlorination technology for the treatment of chloride molten salt waste salt from pyroprocess. - Development of technologies for treatment of high concentration nitric acid and recovery of waste organic solvent.
In-use product stocks link manufactured capital to natural capital.
Chen, Wei-Qiang; Graedel, T E
2015-05-19
In-use stock of a product is the amount of the product in active use. In-use product stocks provide various functions or services on which we rely in our daily work and lives, and the concept of in-use product stock for industrial ecologists is similar to the concept of net manufactured capital stock for economists. This study estimates historical physical in-use stocks of 91 products and 9 product groups and uses monetary data on net capital stocks of 56 products to either approximate or compare with in-use stocks of the corresponding products in the United States. Findings include the following: (i) The development of new products and the buildup of their in-use stocks result in the increase in variety of in-use product stocks and of manufactured capital; (ii) substitution among products providing similar or identical functions reflects the improvement in quality of in-use product stocks and of manufactured capital; and (iii) the historical evolution of stocks of the 156 products or product groups in absolute, per capita, or per-household terms shows that stocks of most products have reached or are approaching an upper limit. Because the buildup, renewal, renovation, maintenance, and operation of in-use product stocks drive the anthropogenic cycles of materials that are used to produce products and that originate from natural capital, the determination of in-use product stocks together with modeling of anthropogenic material cycles provides an analytic perspective on the material linkage between manufactured capital and natural capital.
Recent estimates of capital flight
Claessens, Stijn; Naude, David
1993-01-01
Researchers and policymakers have in recent years paid considerable attention to the phenomenon of capital flight. Researchers have focused on four questions: What concept should be used to measure capital flight? What figure for capital flight will emerge, using this measure? Can the occurrence and magnitude of capital flight be explained by certain (economic) variables? What policy changes can be useful to reverse capital flight? The authors focus strictly on presenting estimates of capital...
Financial Frictions and the Credit Transmission Channel: Capital Requirements and Bank Capital
Lucyna Gornicka; Sweder van Wijnbergen
2013-01-01
We investigate actual capital chosen by banks in presence of capital minimum requirements and ex-post penalties for violating them. The model yields excess capital that is always positive and increases during times of distress in the economy, which is in line with empirical evidence. Next, we show that in presence of ex-post violation penalties the introduction of the conservation buffer under Basel III will not contribute to lowering the pro-cyclicality of capital regulations. The countercyc...
Cultural Capital in Context: Heterogeneous Returns to Cultural Capital Across Schooling Environments
DEFF Research Database (Denmark)
Andersen, Ida Gran; Jæger, Mads Meier
2015-01-01
This paper tests two competing explanations of differences in returns to cultural capital across schooling environments: Cultural reproduction (cultural capital yields a higher returns in high-achieving environments than in low-achieving ones) and cultural mobility (cultural capital yields higher...... returns in low-achieving environments). Using multilevel mixture models, empirical results from analyses based on PISA data from three countries (Canada, Germany, and Sweden) show that returns to cultural capital tend to be higher in low-achieving schooling environments than in high-achieving ones....... These results principally support the cultural mobility explanation and suggest that research should pay explicit attention to the institutional contexts in which cultural capital is converted into educational success....
DEFF Research Database (Denmark)
Andersen, Ida Gran; Jæger, Mads Meier
This paper analyzes the extent to which the effect of cultural capital on academic achievement varies across high- and low-achieving schooling environments. We distinguish three competing theoretical models: Cultural reproduction (cultural capital yields higher returns in high-achieving schooling...... to be higher in low-achieving schooling environments than in high-achieving ones. These results support the cultural mobility explanation and are in line with previous research suggesting that children from low-SES families benefit more from cultural capital than children from high-SES families....... environments than in low-achieving ones), cultural mobility (cultural capital yields higher returns in low-achieving environments), and cultural resources (cultural capital yields the same returns in different environments). We analyze PISA data from six countries and find that returns to cultural capital tend...
Changing compositon of human capital: the Czech Republic, Hungary and Poland
Czech Academy of Sciences Publication Activity Database
Jeong, Byeongju; Kejak, Michal; Vinogradov, Viatcheslav
2008-01-01
Roč. 16, č. 2 (2008), s. 247-271 ISSN 0967-0750 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : human capital * occupation * education Subject RIV: AH - Economics Impact factor: 0.614, year: 2008
The market for sustainable projects. The rules of the game are the same but the game has changed
International Nuclear Information System (INIS)
Biermans, M.; Le Grand, H.; Kerste, M.; Weda, J.
2009-07-01
If the Dutch cabinet wishes to realize the 20/20/20 targets (20% renewable energy, 20% energy saving in 2020 and 20% CO2 reduction compared to 1990), it is important that the capital market for sustainable projects functions well and that a sufficient number of projects find their way to this capital. This report describes the findings of the study of the functioning of the capital market for sustainable projects, taking a look at the question if it deviates compared to other projects. Moreover, the factors that are in the way of the capital market for sustainable projects are examined as well as the measures that could remove these limitations. [nl
Human capital diversity in the creation of social capital for team creativity
Han, J.; Han, J; Brass, D.
2014-01-01
We highlight the social aspects of team creativity by proposing that team creativity is influenced by two types of team social capital: bridging and bonding social capital. Going beyond the structural perspective, we posit that team-level human capital diversity is one of the potential antecedents
KONTRIBUSI HUMAN CAPITAL dan CUSTOMER CAPITAL DALAM MENGGAPAI KINERJA CAFÉ dan RESTO di SURABAYA
Directory of Open Access Journals (Sweden)
Gendut Sukarno
2016-11-01
Berdasarkan hasil pengolahan data diketemukan bahwa 1 human capital mampu memberikan kontribusi yang berarti terhadap customer capital. 2 Customer capital mampu memberikan kontribusi yang berarti terhadap kinerja café dan resto di Surabaya, 3 human capital mampu memberikan kontribusi yang berarti terhadap kinerja café dan resto di Surabaya.
Andersen, Ida Gran; Jæger, Mads Meier
2015-03-01
This paper tests two competing explanations of differences in returns to cultural capital across schooling environments: Cultural reproduction (cultural capital yields a higher returns in high-achieving environments than in low-achieving ones) and cultural mobility (cultural capital yields higher returns in low-achieving environments). Using multilevel mixture models, empirical results from analyses based on PISA data from three countries (Canada, Germany, and Sweden) show that returns to cultural capital tend to be higher in low-achieving schooling environments than in high-achieving ones. These results principally support the cultural mobility explanation and suggest that research should pay explicit attention to the institutional contexts in which cultural capital is converted into educational success. Copyright © 2014 Elsevier Inc. All rights reserved.
ATAQUES À POLÍTICA DE SAÚDE EM TEMPOS DE CRISE DO CAPITAL
Directory of Open Access Journals (Sweden)
Amanda Santos de Paiva
2016-01-01
Full Text Available This article highlights the determinations inherent to the corrosive movement of capital in the current context of crisis for the Brazilian Health Sector Reform Project. It is a bibliographical research that verifies the subsumption of the Sistema Único de Saúde (SUS - National Health System to macro determinations of finance capital. Shows the management model and privatizing healthcare, individual curative and centered procedure that has hegemonized the implementation of health policy in the context of SUS. As an expression of capital's attacks it emphasizes the obstacles to ensuring universal right to health when privatize it. It problematizes up, so the various forms of health privatization: the proposed universal health coverage-UHC, the so-called "new" management models, DAC 451 and the law n o 13.097 / 2015. And, notes the incestuous relationship between state intervention and the need for expansion of capital via appropriation of public funds.
Ciudad de México: una megápolis emergente. El capital vs la capital
Directory of Open Access Journals (Sweden)
José Luis Carrillo Barradas
2004-11-01
This work is an abstract of the doctoral thesis presented in the Combined Program of PhD. ETSA-UPM and Universidad Veracruzana (DAU-1 (Xalapa-Veracruz; Mexico; it includes modifications that the author adds to the defence made on March 4th 2003, about theoretical and methodological aspects mainly, that are not detailed in the original thesis. The doctoral research was supervised by the PhD. Architect José Fariña Tojo. The conceptual and theoretical frame is a phenomenological approximation in the search of the dialectic influences: City-Architecture-Urbanism-Territory-Economical Politics; using Mexico City and its urban phenomenon as the field of analysis. From the methodological point of view, the universal concept used is that of the Influences, subordinating concepts such as: models, paradigms, projects, utopias, processes, modes, dynamics, phenomena, relations, facts and tendencies; always related to Urban Pieces and to the Architecture of Mexico City (MC in a period circumscribed between 1940 and 2000; unimpaired of the historical references of the beginnings of the urban modernity in the Mexican Capital City at the very beginning of the 20th century. Through the diffusion and adaptation of the urban models of the French and North American schools, the Mexican State looking for the utopia of modernity, privileges the spatial sphere of Mexico City and its phenomenology of the emerging megalopolis. In the configuration the metropolitan phenomenon of MC which tendencies leads to the appearance of a megalopolitan dimension, the Mexican State with its theoretical support in the economy of market has done formal interventions, which have determined privilege urban shapes in the national capital. Conditions produced by the big public works of collective consumption. The State has also institutionalized models of urbanism and planning that involves the ideology of the economical benefit of real state in all the social and cultural strata facing the logic of the
Sand in the Wheels of Capitalism
DEFF Research Database (Denmark)
Bersem, Mario; Perotti, Enrico; von Thadden, Ernst-Ludwig
We present a positive theory of capital market frictions that raise the cost of capital for new firms and lower the cost of capital for incumbent firms. Capital market frictions arise from a political conflict across voters who differ in two dimensions: (i) a fraction of voters owns capital......, the rest receives only lab or income; and (ii) voters have different vintages of human capital. We identify young workers as the decisive voter group, with preferences in between capitalists who favor a free capital market, and old workers, who favor restricted capital mobility. We show that capital market...... frictions do not naturally arise in a static framework, or even in a dynamic framework if capital market frictions are reversible. But if capital market frictions can be made to p ersist over time, we show that young workers favor capital market frictions as a way to smo oth income, especially if wealth...
Prakash Loungani; Paolo Mauro
2000-01-01
This paper documents the scale of capital flight from Russia, compares it with that observed in other countries, and reviews policy options. The evidence from other countries suggests that capital flight can be reversed once reforms take hold. The paper argues that capital flight from Russia can only be curbed through a medium-term reform strategy aimed at improving governance and macroeconomic performance, and strengthening the banking system. Capital controls result in costly distortions an...
Selection of intellectual capital management strategies
Shcherbachenko Viktoriia Oleksiivna
2016-01-01
This article deals with the selection of intellectual capital management strategy. The attention is paid to the structure of intellectual capital, which consists of human capital, customer capital, process capital, intellectual property, intangible assets. The algorithm of selection of intellectual capital management strategy was created by author.
DEFF Research Database (Denmark)
du Gay, Paul; Morgan, Glenn
2013-01-01
This chapter places The New Spirit of Capitalism in the context of the development of capitalism over the last twenty years, up to and including the 200-7-8 financial crisis and the ongoing economic crisis which has developed out of this and is now focused on the relationship between state expend...
Capital costs of light water reactors: the USA
International Nuclear Information System (INIS)
MacKerron, G.
1979-10-01
The cost of building a modern nuclear power plant is greater than that of almost any other single civilian project - costs of individual plants are reckoned in hundreds of millions of pounds in the UK, and up to a billion dollars or more in the USA. Hence, depending on the size of nuclear programmes and their funding, escalation of nuclear capital costs may have important economic and social consequences through its effects on overall resource allocation. It is therefore important to analyse the extent and, as far as possible, the sources of cost increases and escalation, in order to see if the experience yields implications for technology policy. The USA has much the greatest experience in nuclear construction: it also has by far the largest amount of published information on the subject of capital costs. As all other countries lack either sufficient experience and/or adequate published cost information, it is impossible to conduct a genuine international comparison, and this paper is confined to an examination of US experience. This paper therefore assembles and evaluates currently available data on light water reactor (PWR and BWR) capital costs in the USA. (author)
Collective Competence and Social Capital Analysis in Collaborative Networks
Directory of Open Access Journals (Sweden)
Janaina Macke
2010-06-01
Full Text Available The present paper addresses the issue of collective competence and social capital analysis for collaborative networks. The objective of the project is to understand how collaborative networks can be influenced considering the perspective of social capital and core competences. In this model we defend the emphasis on endogenous resources, once the technology is, in a general way, accessible to most of the companies and, therefore will not be a long term competitive advantage. The model shows that collaborative networks will be more competitive and successful if they invest in to core elements that are: organizational culture and people. Therefore, the model contributes for the researches in socio-organizational filed and provides a tool to evaluate collaborative networks.
Selection of intellectual capital management strategies
Directory of Open Access Journals (Sweden)
Shcherbachenko Viktoriia Oleksiivna
2016-02-01
Full Text Available This article deals with the selection of intellectual capital management strategy. The attention is paid to the structure of intellectual capital, which consists of human capital, customer capital, process capital, intellectual property, intangible assets. The algorithm of selection of intellectual capital management strategy was created by author.
Private Equity and Regulatory Capital
Bongaerts, D.; Charlier, E.
2008-01-01
Regulatory Capital requirements for European banks have been put forward in the Basel II Capital Framework and subsequently in the Capital Requirements Directive (CRD) of the EU. We provide a detailed discussion of the capital requirements for private equity investments under the simple risk weight
DEFF Research Database (Denmark)
Christensen, Poul Rind; Evald, Majbritt Rostgaard; Klyver, Kim
2011-01-01
This study investigates the influence of human capital, social capital, and cognition on nascent entrepreneurs' export intentions. The results indicate that while human capital and social capital influence the level of intended export, cognitive characteristics, such as self-efficacy and risk...
Wegner, Rhiana; Gong, Jie; Fang, Xiaoyi; Kaljee, Linda
2014-01-01
Individuals with greater social capital have better health outcomes. Investment in social capital likely increases one’s own social capital, bearing great implications for disease prevention and health promotion. In this study, the authors developed and validated the Social Capital Investment Inventory (SCII). Direct effects of social capital investment on perceived stress, and indirect effects through social capital were examined. 397 Participants from Beijing and Wuhan, China completed surveys. Analyses demonstrated that the SCII has a single factor structure and strong internal consistency. Structural equation modeling showed that individuals who invested more in social capital had greater bonding social capital, and subsequently less perceived stress. Results suggest that disease prevention and health promotion programs should consider approaches to encourage social capital investment; individuals may be able to reduce stress by increasing their investment in social capital. Future research is needed to provide additional empirical support for the SCII and observed structural relationships. PMID:25648725
A successful capital treadmill
International Nuclear Information System (INIS)
Bohun, D.A.
1995-01-01
A summary of the operating economics of the Winter Cummings Sand Pool, a horizontal well development project with a sustained rate of development, was presented. A total of 58 horizontal wells have been drilled over a time span of seven years. The production performance of the first pilot wells indicated that development of the pool by horizontal wells could be economically viable. Since its inception the Winter field development was considered to have become a capital treadmill with an incremental rate of return on the incremental investment of 240 percent (a 24 million dollar net operating cash flow for a 10 million dollar investment). Current development status and production forecasts were also discussed. 21 figs
Energy Technology Data Exchange (ETDEWEB)
1983-01-01
Papers were presented on the following: project evaluation; case studies - minerals; finance; applied finance; legal; manpower/industrial relations; and new technologies. Those papers on the coal industry were: mine planning for coal project development; the planning and management of a lignite exploration contract in Thailand; development of the West Cliff extended project; Ulan: a resource development; Saxonvale mine development a case study in project planning and project management; the role of marketing in the development of a new coal project; technical support for coal marketing; infrastructure development for the Ulan project; underground mine project developments; the bucketwheel excavator at Goonyella - a case study; tax aspects of mining development projects; cost of capital mining development projects; and trends in development project finance. 16 papers were abstracted separately.
Leaseback: An alternative source to raise company working capital
Directory of Open Access Journals (Sweden)
Laušević Ljubica
2014-01-01
Full Text Available This paper offers a description, regulatory framework and the manner of implementation of the leaseback as an alternative manner of raising working capital for companies with a large number and type of users. Leaseback has experienced an explosive growth in Europe, in the first decade of this century, especially during the years of economic prosperity. The value of leaseback in Europe has grown from 6.9 billion EUR in 2004, up to 46 billion EUR in 2007, i.e. during the four years the value was increased for 567%. Leaseback has shown itself to be, according to the analyses made, an 'ideal' manner of financing based on sale-and-leaseback of real estate. Capital that is 'immobilised' on long-term basis, through the leaseback regains its quality of capital ready to be engaged in current activities, i.e. projects and programmes of companies that are making high earnings. The objective of this work is to draw the attention, on the basis of a comprehensive theoretical presentation, empirical analyses and positive world practices, to this, in our business circumstances, a completely novel manner of financing, in the context of raising additional working capital through the inflow of both the domestic and of the foreign capital in Serbia. In order to achieve full implementation of this type of financing, it is necessary to overcome a number of constraints and provide regulatory framework, developed investment funds for investment in real estate, and a properly set in place cadastre register.
Capital Flight and Economic Performance
Beja, Edsel Jr.
2007-01-01
Capital flight aggravates resource constraints and contributes to undermine long-term economic growth. Counterfactual calculations on the Philippines suggest that capital flight contributed to lower the quality of long-term economic growth. Sustained capital flight over three decades means that capital flight had a role for the Philippines to lose the opportunities to achieve economic takeoff. Unless decisive policy actions are taken up to address enduring capital flight and manage the macroe...
Sources of Regional Banks Capitalization
Directory of Open Access Journals (Sweden)
Olga Sergeevna Miroshnichenko
2018-03-01
Full Text Available Searching of sources to increase the capitalization of Russian banks is an important economic problem for both the national and regional economy. Moreover, a strong capital base allows to credit institutions to meet the demands of economic agents for banking service. The research focuses on the choice of sources of regulatory capital for the banks of Tyumen region in the context of changing supervisory requirements in the period of 2005–2016, in different phases of the business cycle. We apply econometric methods of statistical information using IBM SPSS Statistics software. We have calculated the individual correlations of regional banks’ capital with gross domestic product (GDP (excluding gross regional product (GRP and GRP (with the exception of the effect of GDP. These calculations have shown that the capital of regional banks is related only to GDP. The increase in the capital of regional banks is accompanied by a change in its structure: the share of authorized capital has halved, and the share of subordinated debt has grown. All sources of capital, other than the reserve fund, are related to GDP. Authorized capital is associated with the profit of profitable lending institutions; retained earnings in the capital of regional banks — with the aggregated amount of risks of the banking system of the Russian Federation. Subordinated debt, like capital as a whole, is negatively affected by the profitability of the banking sector. The change in the capital of regional banks is determined by the change in retained earnings, subordinated debt and reserve fund. Modelling of these relations has allowed to obtain a system of equations. This system synthesizes linear regression models of changing the capital of regional banks in the context of their sourcing. The results of this study are significant for theoretical justification and practical development of a balanced financial policy of regional banks. Our research will contribute to
Design approaches to achieve competitive LMFBR capital costs
International Nuclear Information System (INIS)
Arnold, W.H.; Ehrman, C.S.; Sharbaugh, J.E.; Young, W.H.
1982-01-01
Through analysis of the essential functional elements of an LMFBR, numerous ways were found to simplify system design, reduce the size of components and equipment, and eliminate some components and systems. The projected capital cost per net kW of this design is competitive with that of current PWRs. RandD programs and the construction and operation of CRBRP now are needed to prove out the features of this new design
2010-02-08
... capital and reserve requirements to be issued by order or regulation with respect to a product or activity... minimum capital requirements. Section 1362(a) establishes a minimum capital level for the Enterprises... entities required under this section.\\6\\ \\3\\ The Bank Act's current minimum capital requirements apply to...
Control of spoiler Pseudomonas spp. on fresh cut vegetables by neutral electrolyzed water.
Pinto, Loris; Ippolito, Antonio; Baruzzi, Federico
2015-09-01
In the present study, we evaluated the antimicrobial activity of neutral electrolyzed water (NEW) against 14 strains of spoilage Pseudomonas of fresh cut vegetables under cold storage. The NEW, produced from solutions of potassium and sodium chloride, and sodium bicarbonate developed up to 4000 mg/L of free chlorine, depending on the salt and relative concentration used. The antimicrobial effect of the NEW was evaluated against different bacterial strains at 10(5) cells/ml, with different combinations of free chlorine concentration/contact time; all concentrations above 100 mg/L, regardless of the salt used, were found to be bactericidal already after 2 min. When catalogna chicory and lettuce leaves were dipped for 5 min in diluted NEW, microbial loads of mesophilic bacteria and Enterobacteriaceae were reduced on average of 1.7 log cfu/g. In addition, when lettuce leaves were dipped in a cellular suspension of the spoiler Pseudomonas chicorii I3C strain, diluted NEW was able to reduce Pseudomonas population of about 1.0 log cfu/g. Thanks to its high antimicrobial activity against spoilage microorganisms, and low cost of operation, the application of cycles of electrolysis to the washing water looks as an effective tool in controlling fresh cut vegetable microbial spoilage contamination occurring during washing steps. Copyright © 2015 Elsevier Ltd. All rights reserved.
Capital Requirements and Banks' Leniency
DEFF Research Database (Denmark)
Dietrich, J. Kimball; Wihlborg, Clas
2003-01-01
We investigate the effect of changes in capital regulation on the strictness(leniency) of loan terms using a simple model of bank capital requirements andasset quality examinations. Banks offer different levels of `leniency' in the senseof willingness to offer automatic extensions of loans...... rates. As capital requirements increase thedifference between initial capital levels and between interest rates of strict andlenient banks decrease. Thus, higher capital requirements in recessions tend toreduce the interest rate premium paid for leniency. If a recession is interpreted asan increase...... in the required return, the interest rate premium paid for leniency isincreased in recession at a given level of required capital....
APPROACHES FOR EVALUATING AND FINANCING INVESTMENT PROJECTS
Directory of Open Access Journals (Sweden)
MARIA-LOREDANA POPESCU
2011-04-01
Full Text Available This article presents the financial investment approach and the investment evaluation methods, which are criteria for assessing both investment projects and their funding sources. An important role in the analysis carried out is played by the investment decision and financing decision quality. Making an investment decision implies computing the related investment efficiency indicators. They allow the comparison of several variants of the same investment project as well as their comparison with other projects in the same industry or in other industries. The financing decision concerns the selection between their own sources (share capital, depreciation fund, profits, reserve funds, additional capital, revenues from investments, attracted sources (domestic resource mobilization and borrowed sources (credits.
International Nuclear Information System (INIS)
Bensmann, B.; Hanke-Rauschenbach, R.; Peña Arias, I.K.; Sundmacher, K.
2013-01-01
Three pathways for high pressure hydrogen production by means of water electrolysis are energetically compared. Besides the two classic paths, comprising either the pressurization of the product gas (path I) or the mechanical pressurization of the feed water (path II), a third path is discussed. It involves the electrochemical co-compression during the electrolysis. The energetic evaluation is based on a uniform model description of the different hydrogen production pathways. It consists of integral, steady-state balances for energy, entropy and mass as well as a modern equation of state. From this the reversible energy demand is used to identify the inherent thermodynamic drawbacks of the pathways. The additional consideration of irreversibilities allows for the determination of efficiency losses due to device specific characteristics. For hydrogen delivery pressures of up to 40 bar the classical pathways are out-performed by path III. Since the hydrogen is already produced at elevated pressure this eliminates the need for an energy consuming mechanical hydrogen compression and spares the additional energy demand due to the oxygen pressurization. However, with increasing pressure differences the hydrogen back-diffusion strongly decreases the Faradaic efficiency of the asymmetric electrolyzer that has to be compensated by an additional energy supply
International Nuclear Information System (INIS)
Summers, W. A.; Colon-Mercado, H. R.; Steimke, J. L.; Zahn, Steffen
2014-01-01
Over the past several years, Savannah River National Laboratory (SRNL) has led a team of collaborators under the Department of Energy's (DOE) nuclear hydrogen production program to develop the Hybrid Sulfur (HyS) Process. HyS is a 2-step water-splitting process consisting of high temperature decomposition of sulfuric acid to generate SO 2 , followed by the electrolysis of aqueous SO 2 to generate hydrogen and sulfuric acid. The latter is fed back into the high temperature reactor. SRNL designed and built an SO 2 -depolarized electrolyzer (SDE) and a test facility. Over 40 SDE's were tested using different catalysts, membranes and other components. SRNL demonstrated that an SDE could be operated continuously for approximately 200 hours under certain conditions without buildup of sulfur at the SDE's cathode, thus solving a key technical problem with SDE technology. Air Products and Chemicals, Inc. (APCI) is a major supplier of hydrogen production systems, and they have proprietary technology that could benefit from the SDE developed by SRNS, or some improved version thereof. However, to demonstrate that SRNL's SDE is a truly viable approach to the electrolyzer design, continuous operation for far greater periods of time than 200 hours must be demonstrated, and the electrolyzer must be scaled up to greater hydrogen production capacities. SRNL and Air Products entered into a Cooperative Research and Development Agreement with the objective of demonstrating the effectiveness of the SDE for hydrogen and sulfuric acid production and to demonstrate long-term continuous operation so as to dramatically increase the confidence in the SDE design for commercial operation. SRNL prepared a detailed technical report documenting previous SDE development, including the current SDE design and operating conditions that led to the 200-hour sulfurfree testing. SRNL refurbished its single cell SDE test facility and qualified the equipment for continuous operation. A new membrane
Linking social capital, cultural capital and heterotopia at the folk festival
Directory of Open Access Journals (Sweden)
Linda Wilks
2016-06-01
Full Text Available This paper investigates the role of folk festivals in transforming interconnections between people, space and culture. It interlinks three sets of theoretical ideas: social capital, cultural capital and heterotopia to suggest a new conceptual framework that will help to frame a deeper understanding of the nature of celebration. Qualitative data were collected at two long-established folk festivals, Sidmouth Folk Festival in southern England and the Feakle Traditional Music Festival in western Ireland, in order to investigate these potential links. Although Foucault did not fully develop the concept of heterotopia, his explanation that heterotopias are counter-sites, which, unlike utopias, are located in real, physical, space-time, has inspired others, including some festival researchers, to build on his ideas. This study concludes that the heterotopian concept of the festival as sacred space, with the stage as umbilicus, may be linked to the building of social capital; while it is suggested that both social capital and appropriate cultural capital are needed to gain full entry to the heterotopia.
Ngoma, Muhammad; Dithan Ntale, Peter
2016-01-01
This paper seeks to evaluate the relationship between psychological capital, career identity, social capital and graduate employability. We also seek to evaluate the mediating role of social capital on the relationships between psychological capital, career identity and graduate employability in Uganda. A population of 480 unemployed young people…
Dollars for lives : the effect of highway capital investments on traffic fatalities.
2014-10-01
There is no research that links capital investments on highways with highway fatalities. Our research project aimed to fill : t : hat gap. We used state : - : level data from the 48 contiguous states of the U.S. from 1968 through 2010 to estimate the...
Capital Equipment Replacement Decisions
Batterham, Robert L.; Fraser, K.I.
1995-01-01
This paper reviews the literature on the optimal replacement of capital equipment, especially farm machinery. It also considers the influence of taxation and capital rationing on replacement decisions. It concludes that special taxation provisions such as accelerated depreciation and investment allowances are unlikely to greatly influence farmers' capital equipment replacement decisions in Australia.
Intellectual Capital Management in Transport Sector
Directory of Open Access Journals (Sweden)
Asta Znakovaitė
2011-03-01
Full Text Available This article presents an analysis of intellectual capital; its management, features and processes by which intellectual capital of a company can be evaluated. The main elements of intellectual capital (human, structural and relationship capital are presented and used in research. After surveying bibliography, intellectual capital evaluation model, which applies to Lithuanian and Latvian companies operating in the transport sector, is created. The research is based on the value-added intellectual capital factor model, the relationship between indicators, multi-asset return correlation and regression analysis and generation of alternatives to intellectual capital performance-enhancing. Following an assessment of intellectual capital of Lithuanian and Latvian transport sectors, on the basis of the results, it was found that the intellectual capital is a key factor in corporation management to increase revenue. Article in Lithuanian
Couturier, Jean‐Luc; Kokossis, Antonis; Dubois, Jean‐Luc
2016-01-01
Abstract Biorefineries offer a promising alternative to fossil‐based processing industries and have undergone rapid development in recent years. Limited financial resources and stringent company budgets necessitate quick capital estimation of pioneering biorefinery projects at the early stages of their conception to screen process alternatives, decide on project viability, and allocate resources to the most promising cases. Biorefineries are capital‐intensive projects that involve state‐of‐the‐art technologies for which there is no prior experience or sufficient historical data. This work reviews existing rapid cost estimation practices, which can be used by researchers with no previous cost estimating experience. It also comprises a comparative study of six cost methods on three well‐documented biorefinery processes to evaluate their accuracy and precision. The results illustrate discrepancies among the methods because their extrapolation on biorefinery data often violates inherent assumptions. This study recommends the most appropriate rapid cost methods and urges the development of an improved early‐stage capital cost estimation tool suitable for biorefinery processes. PMID:27484398
Modeling Social Capital as Dynamic Networks to Promote Access to Oral Healthcare.
Wang, Hua; Northridge, Mary E; Kunzel, Carol; Zhang, Qiuyi; Kum, Susan S; Gilbert, Jessica L; Jin, Zhu; Metcalf, Sara S
2016-01-01
Social capital, as comprised of human connections in social networks and their associated benefits, is closely related to the health of individuals, communities, and societies at large. For disadvantaged population groups such as older adults and racial/ethnic minorities, social capital may play a particularly critical role in mitigating the negative effects and reinforcing the positive effects on health. In this project, we model social capital as both cause and effect by simulating dynamic networks. Informed in part by a community-based health promotion program, an agent-based model is contextualized in a GIS environment to explore the complexity of social disparities in oral and general health as experienced at the individual, interpersonal, and community scales. This study provides the foundation for future work investigating how health and healthcare accessibility may be influenced by social networks.
The Study on Stage Financing Model of IT Project Investment
Directory of Open Access Journals (Sweden)
Si-hua Chen
2014-01-01
Full Text Available Stage financing is the basic operation of venture capital investment. In investment, usually venture capitalists use different strategies to obtain the maximum returns. Due to its advantages to reduce the information asymmetry and agency cost, stage financing is widely used by venture capitalists. Although considerable attentions are devoted to stage financing, very little is known about the risk aversion strategies of IT projects. This paper mainly addresses the problem of risk aversion of venture capital investment in IT projects. Based on the analysis of characteristics of venture capital investment of IT projects, this paper introduces a real option pricing model to measure the value brought by the stage financing strategy and design a risk aversion model for IT projects. Because real option pricing method regards investment activity as contingent decision, it helps to make judgment on the management flexibility of IT projects and then make a more reasonable evaluation about the IT programs. Lastly by being applied to a real case, it further illustrates the effectiveness and feasibility of the model.
The Study on Stage Financing Model of IT Project Investment
Xu, Sheng-hua; Xiong, Neal N.
2014-01-01
Stage financing is the basic operation of venture capital investment. In investment, usually venture capitalists use different strategies to obtain the maximum returns. Due to its advantages to reduce the information asymmetry and agency cost, stage financing is widely used by venture capitalists. Although considerable attentions are devoted to stage financing, very little is known about the risk aversion strategies of IT projects. This paper mainly addresses the problem of risk aversion of venture capital investment in IT projects. Based on the analysis of characteristics of venture capital investment of IT projects, this paper introduces a real option pricing model to measure the value brought by the stage financing strategy and design a risk aversion model for IT projects. Because real option pricing method regards investment activity as contingent decision, it helps to make judgment on the management flexibility of IT projects and then make a more reasonable evaluation about the IT programs. Lastly by being applied to a real case, it further illustrates the effectiveness and feasibility of the model. PMID:25147845
The study on stage financing model of IT project investment.
Chen, Si-hua; Xu, Sheng-hua; Lee, Changhoon; Xiong, Neal N; He, Wei
2014-01-01
Stage financing is the basic operation of venture capital investment. In investment, usually venture capitalists use different strategies to obtain the maximum returns. Due to its advantages to reduce the information asymmetry and agency cost, stage financing is widely used by venture capitalists. Although considerable attentions are devoted to stage financing, very little is known about the risk aversion strategies of IT projects. This paper mainly addresses the problem of risk aversion of venture capital investment in IT projects. Based on the analysis of characteristics of venture capital investment of IT projects, this paper introduces a real option pricing model to measure the value brought by the stage financing strategy and design a risk aversion model for IT projects. Because real option pricing method regards investment activity as contingent decision, it helps to make judgment on the management flexibility of IT projects and then make a more reasonable evaluation about the IT programs. Lastly by being applied to a real case, it further illustrates the effectiveness and feasibility of the model.
Couto, Eduardo; Bilau, José
2011-01-01
The aim of this study is to analyse whether the human capital of the nascent entrepreneur influences the initial capital structure of Portuguese innovative firms. The research model used includes a dependent binary variable devised to check the initial capital structure, two groups of independent variables referring to the human capital and a group of control variables. The results obtained through logistic regression show that "heterogeneity of professional experience" positively influences ...
STATISTICAL MODELS OF REPRESENTING INTELLECTUAL CAPITAL
Directory of Open Access Journals (Sweden)
Andreea Feraru
2016-06-01
Full Text Available This article entitled Statistical Models of Representing Intellectual Capital approaches and analyses the concept of intellectual capital, as well as the main models which can support enterprisers/managers in evaluating and quantifying the advantages of intellectual capital. Most authors examine intellectual capital from a static perspective and focus on the development of its various evaluation models. In this chapter we surveyed the classical static models: Sveiby, Edvisson, Balanced Scorecard, as well as the canonical model of intellectual capital. Among the group of static models for evaluating organisational intellectual capital the canonical model stands out. This model enables the structuring of organisational intellectual capital in: human capital, structural capital and relational capital. Although the model is widely spread, it is a static one and can thus create a series of errors in the process of evaluation, because all the three entities mentioned above are not independent from the viewpoint of their contents, as any logic of structuring complex entities requires.
Horne, John; Lingard, Bob; Weiner, Gaby; Forbes, Joan
2011-01-01
This paper draws on a research study into the existence and use of different forms of capital--including social, cultural and physical capital--in three independent schools in Scotland. We were interested in understanding how these forms of capital work to produce and reproduce "advantage" and "privilege". Analysis is framed by…
Consortium for Policy Research in Education, 2009
2009-01-01
The Strategic Management of Human Capital in Education Project was founded in 2008 with one goal: to improve student achievement dramatically in the 100 largest urban school districts. Unless teaching quality and principal leadership improve significantly, lasting education improvement is impossible. In policy terms, without "strategic management"…
Smith, Andrew; Courvisanos, Jerry; Tuck, Jacqueline; McEachern, Steven
2011-01-01
This literature review examines the role of human capital formation in building innovative capacity in firms. The aim of the review is to develop a model of human capital development factors to be used as a basis for a larger research project where the factors that develop innovation capacity in enterprises will be investigated. The review finds…
Project governance: "Schools of thought"
Directory of Open Access Journals (Sweden)
Michiel Christiaan Bekker
2014-02-01
Full Text Available The terminology, definition and context of project governance have become a focal subject for research and discussions in project management literature. This article reviews literature on the subject of project governance and categorise the arguments into three schools of thought namely the single-firm school, multi-firm school and large capital school. The single-firm school is concerned with governance principles related to internal organisational projects and practice these principles at a technical level. The multi-firm school address the governance principles concerned with two of more organisations participating on a contractual basis on the same project and focus their governance efforts at the technical and strategic level. The large capital school consider projects as temporary organisations, forming their own entity and establishing governance principles at an institutional level. From these schools of thought it can be concluded that the definition of project governance is dependent on the type of project and hierarchical positioning in the organisation. It is also evident that further research is required to incorporate other governance variables and mechanisms such as transaction theory, social networks and agency theory. The development of project governance frameworks should also consider the complexity of projects spanning across international companies, across country borders and incorporating different value systems, legal systems, corporate governance guidelines, religions and business practices.
Directory of Open Access Journals (Sweden)
Windri Windri
2010-11-01
Full Text Available The aims of this study are to analyze the effect of intellectual capital performance on intellectualcapital disclosure in annual report of manufacturing company listed in Indonesia Stock Exchange(IDX period 2004-2006 and to analyze the level of intellectual capital disclosure in annualreport period 2004-2006. 50 companies was taken as samples in the research.This paper usescontent analysis to compile a measure of disclosure on each annual report of manufacturingcompany and statistical analysis to test whether intellectual capital performance has a positiveeffect to intellectual capital disclosure. Based on statistical analysis, it is concluded that theintellectual capital performance and firm size have a positive effect to intellectual capitaldisclosure. Leverage has no effect to intellectual capital disclosure. The result of content analysisshows that the intellectual capital disclosure in annual report of manufacturing company period2004-2006 are less than 50%.
Cash flow forecasting model for nuclear power projects
International Nuclear Information System (INIS)
Liu Wei; Guo Jilin
2002-01-01
Cash flow forecasting is very important for owners and contractors of nuclear power projects to arrange the capital and to decrease the capital cost. The factors related to contractor cash flow forecasting are analyzed and a cash flow forecasting model is presented which is suitable for both contractors and owners. The model is efficiently solved using a cost-schedule data integration scheme described. A program is developed based on the model and verified with real project data. The result indicates that the model is efficient and effective
47 CFR 65.304 - Capital structure.
2010-10-01
... 47 Telecommunication 3 2010-10-01 2010-10-01 false Capital structure. 65.304 Section 65.304... OF RETURN PRESCRIPTION PROCEDURES AND METHODOLOGIES Exchange Carriers § 65.304 Capital structure. The proportion of each cost of capital component in the capital structure is equal to: Proportion in the capital...
Directory of Open Access Journals (Sweden)
Rajennd A/L Muniady
2015-10-01
Full Text Available Social capital and its dimensions are highly interrelated, and the outcome of social capital provides entrepreneurs with resources and knowledge that are not available in the first place. The objective of this study is to examine the effect of relational and cognitive social capital on structural social capital and the effect of structural social capital on the performance of micro-enterprises owned and managed by women in Peninsular Malaysia. This study uses a cross-sectional approach, and quantitative data are collected through structured interviews. It was found that cognitive social capital has a significant positive effect on structural social capital, and structural social capital has a significant positive effect on micro-enterprise performance. It was found that relational social capital has a positive but insignificant effect on structural social capital. Therefore, women entrepreneurs should emphasize on making the communication process easier and on ensuring that their business values, norms, interpretation, and meaning are shared and communicated to relevant parties to improve network ties and to build a dense network, which is essential in providing access to resources and knowledge. This, in return, is expected to improve the micro-enterprise performance in Malaysia.
Teaching Practices and Social Capital. NBER Working Paper No. 17527
Algan, Yann; Cahuc, Pierre; Shleifer, Andrei
2011-01-01
We use several data sets to consider the effect of teaching practices on student beliefs, as well as on organization of firms and institutions. In cross-country data, we show that teaching practices (such as copying from the board versus working on projects together) are strongly related to various dimensions of social capital, from beliefs in…
Directory of Open Access Journals (Sweden)
Fazekas Balazs
2014-07-01
Full Text Available JEREMIE (Joint European Resources for Micro to Medium Enterprises program was implemented as a part of the EU cohesion policy in the framework of 2007-2013 programming period. The primary objective of the program was to enhance the financing prospects of SME’s through structural funds that provide financial engineering instruments like loan, guarantee and venture capital. This paper focuses on the effects of JEREMIE on Hungary’s venture capital market. Since 2010, 28 JEREMIE backed venture capital funds were founded in four rounds and 130 billion HUF capital was allocated into these funds with the contribution of Hungarian government. A well-established venture capital market can boost entrepreneurship and innovation, therefore economic growth which is the foundation of government involvement. On the other hand, there is an extensive literature highlighting the limits and possible drawbacks of the active role of public sector in the venture capital market. There is a consensus in the literature that in the long run the extensive role of government in venture capital industry is counterproductive. Substituting market participants by government agencies will hardly result in a competitive and efficient market. However, temporarily as a catalyst public sector can contribute to the development of venture capital market. Direct government intervention supportable temporarily only in the infancy of the industry. The primary objective of every program must be to develop the market to the level where it becomes self-sustaining. This way the success of these programs must not be measured only by the amount of invested capital, financial performance of venture capital funds and venture capital backed companies. Raising private sector awareness and the progress of necessary institutions are also the criteria of a successful program. During the design and implementation of venture capital agendas these aspects must be taken into consideration. This
Pu-238 Supply Program Project Execution Plan
International Nuclear Information System (INIS)
Wham, Robert M.; Martin, Sherman
2012-01-01
This Pu-238 Supply Program Project Execution Plan (PEP) summarizes critical information and processes necessary to manage the program. The PEP is the primary agreement regarding planning and objectives between The Department of Energy Office of Nuclear Energy (DOE NE-75), Oak Ridge National Laboratory Site Office (OSO) and the Oak Ridge National Laboratory (ORNL). The acquisition executive (AE) will approve the PEP. The PEP is a living document that will be reviewed and revised periodically until the project is complete. The purpose of the project is to reestablish the capability to produce plutonium-238 (Pu-238) domestically. This capability consists primarily of procedures, processes, and design information, not capital assets. As such, the project is not subject to the requirements of DOE O 413.3B, but it will be managed using the project management principles and best practices defined there. It is likely that some capital asset will need to be acquired to complete tasks within the project. As these are identified, project controls and related processes will be updated as necessary. Because the project at its initiation was envisioned to require significant capital assets, Critical Decision 0 (CD-0) was conducted in accordance with DOE O 413.3B, and the mission need was approved on December 9, 2003, by William Magwood IV, director of the Office of Nuclear Energy (NE), Science and Technology, DOE. No date was provided for project start-up at that time. This PEP is consistent with the strategy described in the June 2010 report to Congress, Start-up Plan for Plutonium-238 Production for Radioisotope Power Systems.
Directory of Open Access Journals (Sweden)
Kevin A. Yelvington
1999-07-01
Full Text Available [First paragraph] Capitalism: An Ethnographic Approach. DANIEL MILLER. Oxford: Berg, 1997. x + 357 pp. (Cloth £39.00, Paper £17.99 Women, Labour and Politics in Trinidad and Tobago: A History. RHODA E. REDDOCK. London: Zed, 1994. vi + 346 pp. (Cloth £39.95, Paper £15.95 Despite the underdeveloped state of the scholarship on its admittedly short sugar plantation slavery period, we now have a corpus of studies on various aspects of capitalism in Trinidad - from its historical advent (Sebastien 1978 to its twentieth-century manifestation in the petroleum sector (Seers 1964; Sandoval 1983, and from the ethnic structure of labor markets (Camejo 1971; Harewood 1971 and the role of capitalism in racial/ethnic inequality (Henry 1993; Coppin & Olsen 1998 to the way ethnicity affects business, big (Button 1981; Parris 1985; Centre for Ethnic Studies 1993 and small (Ryan & Barclay 1992; Griffith 1997, and the way ethnicity and gender are used in class recruitment (Yelvington 1995. There are also a number of fine working-class histories (e.g., Rennie 1973; Ramdin 1982; Basdeo 1983 and important works on the labor riots and strikes and the nature of the colonial state during the crises of the 1930s (e.g., Thomas 1987; Singh 1994. The two books under review here complement the works mentioned above, and they complement each other as well: Reddock's deals with the way capitalism up to the mid-century was buttressed by colonial politics, and explores how this formation engendered certain kinds of political responses, while Miller approaches capitalism through the assumption that fundamental changes in the post-Oil Boom period (ca. 1973-80 brought about considerable autonomy between production and consumption that can and should now be read through an analysis of the cultural circulation of images and commodities in the society. These books are both noteworthy because they engage in explicit theorizing on what capitalism was and is, and what it did and
Shaw Air Force Base Capital Improvement Program Environmental Assessment
2010-05-01
A FB Capital Im provem ent Program Environm ental A ssessm ent 3-21 Figure 3.6-1. W ater R esources at Shaw A FB under the Proposed A ction...Figure 3.6-2. W ater R esources at Shaw A FB under A lternative 1 0 Key c::::J Shaw!IFB C’l1 Proposed Project ~ Number -- Creek/Stream c:::::J w
DEFF Research Database (Denmark)
Li, Peter Ping; Redding, Gordon
2014-01-01
This article provides an overview of social capital in Asia. Social capital is trust and appears in two main forms: relational, based on societal norms, and systemic, based on societal institutions. The relational encourages personalistic transactions; and systemic trust, supports more formal......, and usually larger, transactions backed by law. For economic development, the systemic form becomes crucial but needs to be compatible with relational norms. The dimensions of social capital are often dual in nature. This article employs a theory that accepts this and analyses the phenomena as yin......–yang balancing, seeing trust as a culturally determined enabler of social cooperation. The evolutions of trustworthiness in Japan, China, and the Philippines are analysed. This article contributes to the literature on varieties of capitalism and business systems as well as that on social capital. It raises...
77 FR 3847 - Major Capital Investment Projects
2012-01-25
... stating FTA should index or otherwise normalize the cost effectiveness thresholds to differentiate between... effectiveness, environmental benefits, and economic development benefits. a. Cost Effectiveness. All of the... identified by the statute; cost effectiveness is currently the only project justification criterion that...
¿Necesitamos capital social? Sí, pero socializando el capital
Directory of Open Access Journals (Sweden)
Silvio Salej Higgins
2005-07-01
Full Text Available A partir de O Capital S ocia! está na moda: aná!isepara sua reconstruido teórica (Salej: 2003, ofrecemos una sinopsis sobre la arquitectura teórica de uno de los conceptos más utilizados en las ciencias sociales durante la última década. En el nivel de la discusión sobre las transformaciones de las democracias del primer mundo (putnam: 2001, cuestionamos la tesis básica de que la merma del asociativismo cívico es el resultado de la modernización tecnológica y su concomitante cultura individualista. Por el contrario y en la misma linea de Rothstein (2001, construimos la hipótesis de que la disminución del capital social, denunciada por Putnam (1995, es correlativa al desmantelamiento de las políticas de asistencia social, con la consecuente caída en los indicadores de equidad. De modo prospectivo se presentan las preguntas- clave y las hipótesis para un programa de investigación alternativo y plausible sobre el capital social. Palabras clave: capital social, asociativismo cívico, integración social, equidad.
Where's the capital? A geographical essay.
Jones, Gareth A
2014-12-01
This paper is inspired by Thomas Piketty's book Capital in the Twenty-First Century. Piketty does a wonderful job of tracing income and wealth over time, and relating changes to trends of economic and population growth, and drawing out the implications for inequality, inheritance and even democracy. But, he says relatively little about where capital is located, how capital accumulation in one place relies on activities elsewhere, how capital is urbanized with advanced capitalism and what life is like in spaces without capital. This paper asks 'where is the geography in Capital' or 'where is the geography of capital in Capital'? Following Piketty's lead, the paper develops its analysis through a number of important novels. It examines, first, the debate that Jane Austen ignored colonialism and slavery in her treatment of nineteenth century Britain, second, how Balzac and then Zola provide insight to the urban political economy of capital later in the century, and third, how Katherine Boo attends to inequality as the everyday suffering of the poor. © London School of Economics and Political Science 2014.
The EU Capital Markets Union and Financial Stability
Directory of Open Access Journals (Sweden)
Kravchuk Igor S.
2017-06-01
Full Text Available The aim of the article is to study the processes of formation of the EU Capital Markets Union in the context of their influence on stability of the markets and the financial system as a whole. In the course of analyzing the project for the building of a single capital market with respect to financial stability, there determined its positive aspects as well as threats and challenges associated with simplification of information requirements to the prospectus of public offering of securities, low liquidity and higher volatility of the equity markets of small and medium-sized businesses, reduction of the regulatory requirements to investment firms (securities traders, correction of prudential norms for infrastructure investments of banking institutions and insurance companies, introduction of a simple, transparent and standard securitization, a secondary market for distressed banking assets, and a potential spread of financial instability at cross-border investments in securities.
北見, 幸一
2009-01-01
This paper discusses Corporate Social Capital and Public Relations. This paper overviewed the Social Capital studies, especially early studies in sociology field, proposed the framework to evaluate Social Capital in a capital. Social Capital has the merit to reduce transaction costs, and should be clearly positioned as a component of capital of corporation. Using the concept of the Corporate Social Capital, to rethink the definition of Public Relations, this paper proposed the following defin...
Rural households’ social capital and welfare: A case study of Msinga, KwaZulu-Natal, South Africa
Directory of Open Access Journals (Sweden)
Lloyd James Segun Baiyegunhi
2014-03-01
Full Text Available In a household or nations production system, social capital has been recognized as an input having major implications for project design as well as policy development. Using a structured questionnaire, household level data was obtained from a representative sample of 300 rural households in Msinga, KwaZulu-Natal. This study employed the conventional household economic behaviour model under constrained utility maximisation to examine the effect of social capital on the welfare of household, testing the hypothesis that the possession of social capital improves household welfare. The result shows that social capital endowments have a statistically significant positive effect on household welfare, in addition to the some household’s demographic and socio-economic characteristics. The study concluded that, access to social capital among other factors, is very crucial for improved rural household welfare and poverty reduction. It is therefore important for government to have knowledge of existing social groups and networks as this will improve the effectiveness of the present strategies aimed at reducing poverty.
Levels of Social Capital in Internationalization
DEFF Research Database (Denmark)
Decker, Arnim
2016-01-01
This contribution introduces the notion of social capital and discusses integration into the studies on internationalization of smaller firms and entrepreneurs. Integrating social capital into the resource based perspective, we categorize social capital at three levels: firstly, social capital can...... be attributed to individuals, affecting their relationship with the external environment. Secondly, social capital is an inherent property of networks, into which smaller firms and entrepreneurs are embedded. Thirdly, social capital exists at the macro level, where its characteristics and availability varies...... between environments and nations. This contribution attemps to fascilitate the operationalization of social capital for an improved understanding of processes of internationalization of smaller firms and entrepreneurs....
Social Capital in Rural Denmark
DEFF Research Database (Denmark)
Svendsen, G.L.; Svendsen, Gert Tinggaard
1999-01-01
What are the roots of social capital and how can it be measured and built? Social capital is considered as a new production factor which must be added to the conventional concepts of human and physical capital. Social capital is productive because it increases the level of trust in a society...... and allows more transactions to take place without third-party enforcement. Theory and lessons from empirical evidence lead to the general recommendation that any loss in social capital must be deducted from the economic gain following market forces. For example, the voluntary organization of small......-sized groups in the Danish Cooperative Dairy Movement was eliminated due to economies of scale. It may be so that an alternative way of production, taking social capital into account, could have increased economic growth further....
Sharma, Lalit
2014-01-01
The research paper intends to interpret how the three forms of family capital viz. family's financial capital, family's man power capital and family's human capital influences the career choice intention of students of HEI's of Uttarakhand, India. Additionally the study also evaluates the impact of student's individual social capital on his career intent. This is a quantitative study conducted at Uttarakhand state of India on a large sample of students studying in various professional courses...
Limited Capital Market Participation and Human Capital Risk
Jonathan Berk; Johan Walden
2010-01-01
The non-tradability of human capital is often cited for the failure of traditional asset pricing theory to explain agents' portfolio holdings. In this paper we argue that the opposite might be true --- traditional models might not be able to explain agent portfolio holdings because they do not explicitly account for the fact that human capital does trade (in the form of labor contracts). We derive wages endogenously as part of a dynamic equilibrium in a production economy. Risk is shared in l...
Forms of international movement of capital with special emphasis on the PPP and concessions
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Šovran Sanja
2016-01-01
Full Text Available The state has always cooperated with the private sector in order to implement various activities in the best interest of public. The first models of public-private partnerships (PPP appeared at the time of the Roman Empire in the context of public works in construction of public baths, markets and ports. Contemporary international movement of capital is a phenomenon that has existed for over a century. When discussing the PPP in modern day terms, the expansion of private involvement in the public sector starts in the 1970s and the 1980s of the previous century, in public infrastructure projects and in most developed economies. The primary purpose of these arrangements is to reduce expenditures in state budgets, but also to achieve faster and better execution of work, reduce risk and efficiently manage the projects. This paper will briefly present the evolution of PPPs and concessions, with an emphasis on understanding money and capital throughout the evolution of PPP, contemporary forms of movement of capital, as well as equity in terms of globalization. The subject of this paper are also examples of the important PPPs and concessions from the construction of the Suez Canal until today.
Effects of site management operations on the nutrient capital of a ...
African Journals Online (AJOL)
The Karkloof Project is a case study of the effects of intensive site management operations during the interrotational period, on (a) the nutrient capital of the system, and (b) the availability of growth resources (nutrients and water) in a commercial Eucalyptus grandis stand in South Africa. This paper specifically focuses on the ...
Capital Requirements and Credit Rationing
Itai Agur
2010-01-01
This paper analyzes the trade-off between financial stability and credit rationing that arises when increasing capital requirements. It extends the Stiglitz-Weiss model of credit rationing to allow for bank default. Bank capital structure then matters for lending incentives. With default and rationing endogenous, optimal capital requirements can be analyzed. Introducing bank financiers, the paper also shows that uninsured funding raises the sensitivity of rationing to capital requirements. In...
Seeing Is Believing: on the Visibility of Late Capitalism
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Gordan Maslov
2015-12-01
Full Text Available Representing Capital: A Reading of Volume One opens with the claim that “It should not be surprising that Marx remains as inexhaustible as capital itself, and that with every adaptation or mutation of the latter his texts and his thought resonate in new ways and with fresh accents … rich with new meanings” (Jameson 1. Together with Valences of the Dialectic (2009, this is Fredric Jameson's latest chapter in a life-long project of actualization and affirmation of different categories of Marx’s dialectic, from alienation to commodity fetishism, all thoroughly criticized and somewhat abandoned after the (poststructuralist turn of Marxism in the late 1960s and early 1970s. By positing the category of representation in the center of his reading of Capital, Jameson is moving against the current of those appropriations of Marx that amidst the unprecedented global financial crisis of 2008, aimed to find their foothold in the supposed objectivity of the economy – projecting onto the economy the authenticity and the absoluteness of the Lacanian real. Having in mind his previous work, this is not something undertaken without a sense of self-responsibility, taking the form of admission when he writes that “the problem of representation today eats away at all the established disciplines like a virus, particularly destabilizing the dimension of language, reference and expression …, as well as that of thought” (Jameson 4. Rejecting the “false” debates around the (nonpolitical nature of Marx’s magnum opus, Jameson claims that it is a figural work since by using different forms of value, space, time, and mediation, it ends up constructing a kind of ‘proto-narrative’ representation of capitalism as totality. Famous images scattered throughout Capital – capital as ‘vampire’ and other forms of recurring monstrosities, dancing tables or the play for recognition between the linen and the coat – are a way to grasp the specific form of
Economic Analysis of Social Common Capital
Uzawa, Hirofumi
2005-06-01
Social common capital provides members of society with those services and institutional arrangements that are crucial in maintaining human and cultural life. The term æsocial common capital' is comprised of three categories: natural capital, social infrastructure, and institutional capital. Natural capital consists of all natural environment and natural resources including the earth's atmosphere. Social infrastructure consists of roads, bridges, public transportation systems, electricity, and other public utilities. Institutional capital includes hospitals, educational institutions, judicial and police systems, public administrative services, financial and monetary institutions, and cultural capital. This book attempts to modify and extend the theoretical premises of orthodox economic theory to make them broad enough to analyze the economic implications of social common capital. It further aims to find the institutional arrangements and policy measures that will bring about the optimal state of affairs.
The sensitivity of capital services measurement : Measure all assets and the cost of capital
Inklaar, R.
The measurement of capital inputs is still a contentious issue: many choices have to be made that have potentially large effects on the resulting capital input series. This paper compares a large number of methodological choices and their impact on U.S. capital services at the industry and aggregate
Costa, A.C.; Bijlsma-Frankema, K.M.; de Jong, B.A.
2009-01-01
This study examined the development and dynamics of trust in project teams and explored the relation with cooperation, monitoring and team performance. Two types of teams were distinguished at the start of the projects: low prior social-capital teams (teams composed of members that have no previous
What's your real cost of capital?
McNulty, James J; Yeh, Tony D; Schulze, William S; Lubatkin, Michael H
2002-10-01
In valuing any investment project or corporate acquisition, executives must decide what discount rate to use in their estimates of future cash flows. The traditional approach is to apply the capital asset pricing model (CAPM), which has remained fundamentally unchanged for 40 years. But the formula--in particular, its beta element--has long been a source of frustration. In fact, corporate executives and investment bankers routinely fudge their CAPM estimates, say the authors, because experience and intuition tell them the model produces inappropriate discount rates. CAPM has three main problems: First, beta is a measure of both a stock's correlation and its volatility; second, beta is based on historical data; and third, CAPM rates don't take into account the term of the investment. These factors together result in discount rates that defy common sense. As an alternative to CAPM and its beta element, the authors developed a forward-looking approach to calculating a company's cost of capital, the market-derived capital pricing model (MCPM). It does not incorporate any measure of historical stock-to-market correlation, relying instead on estimates of future volatility derived from the options market. This is helpful since investor expectations from the options market are built into a company's current stock price. Using GE as an example, the authors give step-by-step instructions for how to calculate discount rates with MCPM. They also offer evidence from a range of industries to show that MCPM's discount rates are more realistic--especially from the corporate investor's perspective--than are CAPM's.
Does Venture Capital Spur Innovation?
Samuel Kortum; Josh Lerner
1998-01-01
While policymakers often assume venture capital has a profound impact on innovation, that premise has not been evaluated systematically. We address this omission by examining the influence of venture capital on patented inventions in the United States across twenty industries over three decades. We address concerns about causality in several ways, including exploiting a 1979 policy shift that spurred venture capital fundraising. We find that the amount of venture capital activity in an indust...
ACCOUNT INSTRUMENT CAPITAL BORROWED
Directory of Open Access Journals (Sweden)
Holt Gheorghe
2012-03-01
Full Text Available Setting up business capital is made from different sources and their use coordinates its policy aims, issues that affect the overall efficiency and thus differentiate companies with the same profile of activity and a similar level of capital advanced in the economic cycle. Thus financial structure, the average cost of capital used in the mechanism how the financial management of the company, of particular importance for this.
Economic-financial analysis of 'Angra 3 Nuclear Power Plant' project
International Nuclear Information System (INIS)
Andrade, Ronaldo Barata de
2005-01-01
This paper presents an economic-financial evaluation of 'Angra 3 Nuclear Power Plant' project and estimates the lowest power tariff value at which power potentially made available may be commercialized and yet ensure the project a profitability level agreeable to the interests of economic agents and shareholders. According to the 'project evaluation' practice, Angra 3 power generation was considered separately from ELETRONUCLEAR's operating plants (Angra 1 and Angra 2), thus preventing result distortions bound to occur if the economic-financial variables of the new project were analyzed associated with financial commitments and commercialization conditions resulting from the project implementation process and the generated power commercialization conditions, respectively. For this evaluation different technical and economic scenarios were devised, and the theory of Capital Asset Pricing Model for Own Capital cost and that of Weighted Average Cost of Capital were used in addition to the forecast of the Statement of Results and Free Cash flow of Shareholders throughout the power plant life, which is the estimate basis for the lowest power tariff value and the Internal Return Rate of the project. The evaluation conclusion is that Angra 3 project is technically and economically feasible and competitive as compared to the new large power generation projects planned for power supply in Brazil in the next decade, mainly in the Southeast. (author)
Developing Inclusive Technical Capital beyond the Disabled Students’ Allowance in England
Directory of Open Access Journals (Sweden)
Simon Hayhoe
2015-12-01
Full Text Available The Disabled Students Allowance (DSA is a government grant for students aged 18 years and over in English Higher Education. Amongst other things, this grant supports the provision of traditional assistive technologies. In April 2014, the UK’s Minister for Universities, Science and Cities proposed cuts to the DSA. Although a later announcement delayed these cuts until the academic year 2016−2017, a number of universities are already preparing alternative means to support disabled students. In this article, it is argued that cuts to the DSA will potentially reduce the cultural and technical capitals of students with disabilities and lessen social inclusion in Higher Education. In particular, less support will potentially lead to a reduction in the development of study skills. As a counter weight, this article proposes a new model of inclusive technical capital. This model originates in Bourdieu’s theory of cultural capital and habitus. The proposed model supports the use of native apps and settings in ubiquitous mainstream mobile technologies. It also espouses the use of m-learning for the passive inclusion of students with disabilities. This article also presents the early results of a project on the use of mobile technologies at the London School of Economics and Canterbury Christ Church University. This project found that students with disabilities and their lecturers already used mobile technologies alongside or instead of customized traditional assistive technologies. The project also found that students preferred not to attend, or found it difficult to attend, separate study skills courses using mobile technologies. However, they were more likely to access m-learning tutorial materials on Learning Management Systems. The study concludes that mobile technologies have the potential to develop a number of study skills that are at risk after cuts to the DSA. However, their use in this regard needs further research and support from
Shahidul, S. M.; Karim, A. H. M. Zehadul; Mustari, S.
2015-01-01
Resources from multiple social contexts influence students' educational aspiration. In the field of social capital a neglected issue is how students obtain social capital from varying contexts and which contexts benefit them more to shape their future educational plan which consequently affects their level of aspiration. In this study, we aim to…
Testing Students under Cognitive Capitalism: Knowledge Production of Twenty-First Century Skills
Morgan, Clara
2016-01-01
Scholars studying the global governance of education have noted the increasingly important role corporations play in educational policy making. I contribute to this scholarship by examining the Assessment and Teaching of twenty-first century skills (ATC21S™) project, a knowledge production apparatus operating under cognitive capitalism. I analyze…
Directory of Open Access Journals (Sweden)
Flores, D. R. M.,
2017-06-01
Full Text Available The quality of meat from different animal species is defined by chemical, physical sensory and microbiological characteristics, which can be influenced by procedures during the slaughter of animals. Technologies such as ultrasound (US and slightly acidic electrolyzed water (SAEW are being studied in order to assist in food processing and in developing methods that are economically viable and environmentally sustainable. The aim of this paper is to discuss the relationship between US and SAEW in relation to tenderness, microbiology, and oxidation of meat. The meat industry was a pioneer in the use of the ultrasound, which initially aimed to determine the layer of fat on carcasses and subsequently improve the tenderness of the meat. Recently studies mention that the ultrasound and SAEW can influence the microbiological parameters. The combination of both technologies should also be considered, with the possibility of enhancing the antimicrobial effects. However, there is little information regarding oxidative parameters promoted in meat for these two alternative technologies, where the individual or when interspersed use. Knowing the actions and consequences of ultrasound and SAEW in meat will enable the opening of new perspectives about the application of these technologies in the meat industry.
Directory of Open Access Journals (Sweden)
Ewa Chojnacka
2015-04-01
Full Text Available The purpose of this study is to confront certain propositions presented in Lesław Niemczyk’s publication Rachunkowość finansowa aktywów kompetencyjnych i kapitału intelektualnego. Nowy dział rachunkowości(Accounting for Competence Assets and Intellectual Capital. A New Area in Accounting with ideas published in other studies. The authors discuss issues concerning firm value, selected definitions of intellectual capital, as well as certain methods of intellectual capital measurement and valuation. Other problems analysed include accounting for and reporting of intellectual capital and similarities and differences between the way those issues are presented in Polish and in international studies as well as in existing legal regulations and standards.
Unsustainable growth, unsustainable capitalism
DEFF Research Database (Denmark)
Næss, Petter
2006-01-01
problems, but serve to further highlight the difficulties of changing capitalism towards sustainability. In a profit-oriented economy, capital accumulation is a prime driving force, and non-growth for the economy at large tends to result in serious economic and social crises. On the other hand, a de...... according to which the powers and mechanisms of the natural world are considered totally controllable by humans as if they were mere epiphenomena of the human world. On the other hand, the assumptions of certain ecological economists about the possibility of steady-state capitalism disregard the relation...... between capital and surplus value, which constitutes a strong mechanism driving the capitalist economy toward limitless growth....
Social capital in engineering education
Brown, Shane
A theoretical argument is presented to suggest that engineering curriculum be designed to develop social capital. Additionally, the value of social capital in the retention of students in the College of Engineering, and the development, role, and value of social capital in an electrical engineering laboratory is evaluated. Data collected includes participant observations, informal and formal student interviews, and a researcher-designed survey. Social capital consists of interaction among individuals (networks), social rules that encourage interactions such as trust and reciprocity (norms), and the value of these networks and norms to the individual and the group. A large body of evidence suggests that social capital is valuable in terms of retention and multiple measures of academic achievement. The importance of social capital in retention was verified by students that have left engineering and those that remain, in terms of interactions with peers, teaching assistants, and engineering faculty; and a lack of sense of community in freshman engineering courses. Students that have left engineering differed in their perceptions of social capital from those that remain in their frustrations with teaching methods that encourage little discussion or opportunities to ask questions about assumptions or approaches. The open-ended nature of laboratory assignments, extensive required troubleshooting, and lack of specific directions from the teaching assistants were found to encourage the development of social capital in the laboratory setting. Degree centrality, a network measure of social capital as the number of ties an individual has within a social network, was found to be positively correlated with laboratory grade. Student perceptions of the importance of interactions with other students on success in the laboratory setting has a negative model effect on academic achievement in the laboratory. In contrast, student perceptions of the quality of interactions with
Bank capital management : International evidence
De Jonghe, O.G.; Öztekin, Ö.
We examine the dynamic behavior of bank capital using a global sample of 64 countries during the 1994-2010 period. Banks achieve deleveraging through active capital management (equity growth) rather than asset liquidation. In contrast, they achieve leveraging through passive capital management
12 CFR 567.4 - Capital directives.
2010-01-01
... requirement, the leverage ratio requirement, the tangible capital requirement, or individual minimum capital... capital directive, it may become effective immediately. A capital directive shall remain in effect and... plan shall continue in full force and effect. (b) Relation to other administrative actions. The Office...
Capitalism: A System of Conspiracy
Das, Subhendu
2010-01-01
There are some myths about American capitalism. Some of them are (1) Capitalism made America the richest nation, (2) Capitalism is based on self interest, and (3) America has democracy. We show that the survival of capitalism is based on several powerful conspiracy theories. We briefly describe these conspiracies. Our analysis is based on the following principles: (a) Laws of conservation, (b) System theoretic concepts, and (c) The global space time (GST) environment. Using these princip...
Macroeconomic Conditions and Capital Raising
Isil Erel; Brandon Julio; Woojin Kim; Michael S. Weisbach
2011-01-01
Do macroeconomic conditions affect firms' abilities to raise capital? If so, how do they affect the manner in which the capital is raised? We address these questions using a large sample of publicly-traded debt issues, seasoned equity offers, bank loans and private placements of equity and debt. Our results suggest that a borrower's credit quality significantly affects its ability to raise capital during macroeconomic downturns. For noninvestment-grade borrowers, capital raising tends to be p...
Exploring the capital markets and securitisation for renewable energy projects
Energy Technology Data Exchange (ETDEWEB)
Haggard, M.E.; Thompson, M.A.; Colonna, S.
2000-07-01
This study looks at the opportunities for renewable energy projects to access the bond market to finance projects or refinance existing projects, and what, if anything, is required to facilitate this. In addition, the study looks at the possible use of securitisation to group projects together as a means of dealing with some of the challenges faced by renewables, such as small size relative to most bond issues and the transaction costs. (author)
Exploring the capital markets and securitisation for renewable energy projects
International Nuclear Information System (INIS)
Haggard, M.E.; Thompson, M.A.; Colonna, S.
2000-01-01
This study looks at the opportunities for renewable energy projects to access the bond market to finance projects or refinance existing projects, and what, if anything, is required to facilitate this. In addition, the study looks at the possible use of securitisation to group projects together as a means of dealing with some of the challenges faced by renewables, such as small size relative to most bond issues and the transaction costs. (author)
Social Capital is Associated With Late HIV Diagnosis: An Ecological Analysis.
Ransome, Yusuf; Galea, Sandro; Pabayo, Roman; Kawachi, Ichiro; Braunstein, Sarah; Nash, Denis
2016-10-01
Late HIV diagnosis is associated with higher medical costs, early mortality among individuals, and HIV transmission in the population. Even under optimal configurations of stable or declining HIV incidence and increase in HIV case findings, no change in proportion of late HIV diagnosis is projected after year 2019. We investigated the association among social capital, gender, and late HIV diagnosis. We conduct ecological analyses (ZIP code, N = 166) using negative binomial regression of gender-specific rates of late HIV diagnoses (an AIDS defining illness or a CD4 count ≤200 cell/μL within 12 months of a new HIV diagnosis) in 2005 and 2006 obtained from the New York City HIV Surveillance Registry, and social capital indicators (civic engagement, political participation, social cohesion, and informal social control) from the New York Social Indicators Survey, 2004. Overall, low to high political participation and social cohesion corresponded with significant (P social control [RR = 0.67, 95% CI: (0.48 to 0.93)] among men only and moderate social cohesion [RR = 0.71, 95% CI: (0.55 to 0.92)] among women only were associated with the outcome adjusting for social fragmentation, income inequality, and racial composition. The magnitude of association between social capital and late HIV diagnosis varies by gender and by social capital indicator.
PENGARUH INTELLECTUAL CAPITAL TERHADAP KINERJA KEUANGAN PERUSAHAAN
Directory of Open Access Journals (Sweden)
Denny Andriana
2014-04-01
Full Text Available The purpose of this research is to examine the influence of intellectual capital and its components, represented by physical capital (capital employed, human capital, and structural capital,on financial performance of mining and manufacturing companies listed in Indonesia Stock Exchange (Bursa Efek Indonesia – BEI period of 2010 – 2012. Total population observed during this research shows 169 mining and manufacturing companies.The sample was determined by purposive sampling method and found a total of 70 samples as the research subjects. The analytical technique for the quantitaive data uses a statistical tool, i.e. multiple regression. Intellectual capital and its components were measured by Pulic Model, while financial performance uses Return on Equty (ROE ratio. The results show that intellectual capital and human capital have negative influence, yet insignificant, impacton companies financial performance. While physical capital (capital employed and structural capital do have positive influence but not significanton companies financial performance.
Hao, X X; Li, B M; Wang, C Y; Zhang, Q; Cao, W
2013-10-01
Lots of microorganisms exist in layer houses can cause bird diseases and worker health concerns. Spraying chemical disinfectants is an effective way to decontaminate pathogenic microorganisms in the air and on surfaces in poultry houses. Slightly acidic electrolyzed water (SAEW, pH 5.0-6.5) is an ideal, environmentally friendly broad-spectrum disinfectant to prevent and control bacterial or viral infection in layer farms. The purpose of this work was to investigate the cleaning effectiveness of SAEW for inactivating the microbes in layer houses. The effect of SAEW was evaluated by solid materials and surface disinfection in a hen house. Results indicate that SAEW with an available chlorine concentration of 250 mg/L, pH value of 6.19, and oxygen reduction potential of 974 mV inactivated 100% of bacteria and fungi in solid materials (dusts, feces, feather, and feed), which is more efficient than common chemical disinfectant such as benzalkonium chloride solution (1:1,000 vol/vol) and povidone-iodine solution (1:1,000 vol/vol). Also, it significantly reduced the microbes on the equipment or facility surfaces (P < 0.05), including floor, wall, feed trough, and water pipe surfaces. Moreover, SAEW effectively decreased the survival rates of Salmonella and Escherichia coli by 21 and 16 percentage points. In addition, spraying the target with tap water before disinfection plays an important role in spray disinfection.
Working Paper on Social capital
DEFF Research Database (Denmark)
Lassen Hanan, Anne
This paper outlines the major schools within social capital theory. Contemporary authors such as Coleman, Putnam and Bourdieu are elaborated on. The paper also presents a non-exhaustive review on studies of social capital. Furthermore, a criticial discussion on social capital is reviewed, before...
Venture Capital and Innovation Strategies
Da Rin, Marco; Penas, Maria
2015-01-01
Venture capital investors are specialized financial intermediaries that provides funding for technological innovation with the goal of realizing a capital gain within a few years. We are the first to examine the association of venture capital funding with a company’s choice of innovation strategies.
Venture capital and innovation strategies
Da Rin, Marco; Penas, Fabiana
2017-01-01
Venture capital investors are specialized financial intermediaries that provide funding for technological innovation with the goal of realizing a capital gain within a few years. We are the first to examine the association of venture capital funding with a company's choice of innovation strategies.
Capital regulation and tail risk
Perotti, E.; Ratnovski, L.; Vlahu, R.
2011-01-01
The paper studies risk mitigation associated with capital regulation, in a context when banks may choose tail risk assets. We show that this undermines the traditional result that higher capital reduces excess risk-taking driven by limited liability. When capital raising is costly, poorly
Capital regulation and tail risk
Perotti, E.; Ratnovski, L.; Vlahu, R.
2011-01-01
The paper studies risk mitigation associated with capital regulation, in a context where banks may choose tail risk assets. We show that this undermines the traditional result that higher capital reduces excess risk taking driven by limited liability. Moreover, higher capital may have an unintended
Energy Technology Data Exchange (ETDEWEB)
Summers, W. A. [Savannah River Site (SRS), Aiken, SC (United States). Savannah River National Lab. (SRNL); Colon-Mercado, H. R. [Savannah River Site (SRS), Aiken, SC (United States). Savannah River National Lab. (SRNL); Steimke, J. L. [Savannah River Site (SRS), Aiken, SC (United States). Savannah River National Lab. (SRNL); Zahn, Steffen [Air Products and Chemicals, Inc., Allentown, PA (United States)
2014-02-24
Over the past several years, Savannah River National Laboratory (SRNL) has led a team of collaborators under the Department of Energy’s (DOE) nuclear hydrogen production program to develop the Hybrid Sulfur (HyS) Process. HyS is a 2-step water-splitting process consisting of high temperature decomposition of sulfuric acid to generate SO2, followed by the electrolysis of aqueous SO2 to generate hydrogen and sulfuric acid. The latter is fed back into the high temperature reactor. SRNL designed and built an SO2-depolarized electrolyzer (SDE) and a test facility. Over 40 SDE’s were tested using different catalysts, membranes and other components. SRNL demonstrated that an SDE could be operated continuously for approximately 200 hours under certain conditions without buildup of sulfur at the SDE’s cathode, thus solving a key technical problem with SDE technology. Air Products and Chemicals, Inc. (APCI) is a major supplier of hydrogen production systems, and they have proprietary technology that could benefit from the SDE developed by SRNS, or some improved version thereof. However, to demonstrate that SRNL’s SDE is a truly viable approach to the electrolyzer design, continuous operation for far greater periods of time than 200 hours must be demonstrated, and the electrolyzer must be scaled up to greater hydrogen production capacities. SRNL and Air Products entered into a Cooperative Research and Development Agreement with the objective of demonstrating the effectiveness of the SDE for hydrogen and sulfuric acid production and to demonstrate long-term continuous operation so as to dramatically increase the confidence in the SDE design for commercial operation. SRNL prepared a detailed technical report documenting previous SDE development, including the current SDE design and operating conditions that led to the 200-hour sulfurfree testing. SRNL refurbished its single cell SDE test facility and qualified the equipment for
Time-varying Capital Requirements and Disclosure Rules
DEFF Research Database (Denmark)
Kragh, Jonas; Rangvid, Jesper
, implying that resilience in the banking system is also increased. The increase in capital ratios is partly due to a modest reduction in lending. Using a policy changes, we show that banks react stronger to changes in capital requirements when these are public. Our results further suggest that the impact......Unique and confidential Danish data allow us to identify how changes in disclosure requirements and bank-specific time-varying capital requirements affect banks' lending and capital accumu-lation decisions. We find that banks increase their capital ratios after capital requirements are increased...... of capital requirements differ for small and large banks. Large banks raise their capital ratios more, reduce lending less, and accumulate more new capital compared to small banks....
A reversible electrolyzer-fuel cell system based on PEM technology
International Nuclear Information System (INIS)
Grigoriev, S.A.; Millet, P.; Fateev, V.N.
2009-01-01
'Full text': A reversible electrolyzer-fuel cell is an electrochemical system which can be alternatively operated in water electrolysis or H 2 /O 2 (air) fuel cell modes. Whereas proton-exchange membrane (PEM) water electrolysis and PEM fuel cell technologies are individually well-established, it is still a very challenging task to develop efficient reversible systems which can maintain interesting electrochemical performances during a significant number of cycles. Results reported in this communication are related to R and D on bi-functional catalysts, electrocatalytic layers, gas diffusion layers/current collectors and reversible PEM stack design. Electrodes which do not change their redox status when the operation mode of the cell is switched from electrolysis to fuel cell are more specifically considered. In particular, it is shown that, when the anode is composed of Pt-Ir layers (ca. 0.5/0.5 wt. ratio), best electrochemical performances are obtained (for both for water and hydrogen oxidation reactions) when an Ir layer is placed face-to-face with the membrane. Cathodic electrocatalytic layers made of Pt/C were prepared and optimized by adding PTFE to obtain the required hydrophobic-hydrophilic properties for effective oxygen and protons electro-reduction. Gas diffusion electrodes made of porous carbon materials and bi-porous titanium sheets with appropriate water management properties have also been developed. A two-cell stack with 250 cm 2 active area electrodes has been assembled using the optimized components and successfully tested. Results are rather close to those obtained for individual water electrolysis and H 2 /O 2 fuel cells with the same noble metal loadings and similar operating conditions. For instance, at a current density of 0.2 A/cm 2 , typical cell voltages of ca. 1.55 and 0.70 V were respectively obtained during water electrolysis and H 2 /O 2 fuel cell operation, using Nafion-1135 as solid polymer electrolyte and noble metal loadings 2
Intellectual Capital: Comparison and Contrast.
Madsen, Susan R.
2001-01-01
Suggests that one of the most important keys for improving individual and organizational performance is in developing and strengthening intellectual capital (IC) and explores the similarities and differences between the concepts of intellectual capital, human capital, and knowledge management. Presents four IC characteristics and addresses the…
Review of the project risk management plan in the capital projects organization at ConocoPhillips
Meidell, Camilla
2011-01-01
Master's thesis in Risk management Project Risk Management (PRM) has in recent years become an important aspect of business organization and project management. There has always been a requirement for some risk management at COPNO. However about 3 years ago the process became much more defined and has become a requirement for the contingency used on projects to be based upon the risking process. Since risk management in projects is a requirement in the CP organization it is ...
Development trends of the venture capital financing institution: spaciotemporal profile
Directory of Open Access Journals (Sweden)
T. I. Volkova
2010-09-01
Full Text Available The article describes the results of the research of development and performance features of the venture capital financing institution in leading countries as well as in Russia and in its regions. A number of main trends in venture financing in accordance with the level of innovation process` development abroad and in our country are emphasized, first of all by stages of support of scientific and technological developments and projects. Positive trends and contradictions in development of venture capital financing institution in Russia and its regions are revealed. Main directions of activation of venture financing process are systematized in accordance with the requirements of the Concept of long-term social-economic development of the Russian Federation till 2020 and the Strategy of social-economic development of the Sverdlovsk region until 2020.
Review of Capitalism in the Web of Life. Ecology and Accumulation of Capital (Moore, 2015
Directory of Open Access Journals (Sweden)
Germán Palacio
2017-01-01
Full Text Available Jason Moore. 2015. Capitalism in the Web of Life. Ecology and Accumulation of Capital [Capitalismo en la red de la vida. Ecología y acumulación de capital]. London New York: Verso Books. 336 pp. ISBN 978-1781689028.
Patricia Martínez García de Leaniz; Ignacio Rodríguez del Bosque
2013-01-01
Purpose: Intellectual capital offers a potential source of sustainable competitive advantage and is believed to be the source from which economic growth may sprout. However, not many papers analyze the effect of sustainability in the elements involving intellectual capital. This paper seeks to highlight the key role played by corporate sustainability on corporate reputation as one of the key components of relational capital based on the knowledge-based theory.Design/methodology/approach: Auth...
DEFF Research Database (Denmark)
The Handbook of Social Capital balances the ‘troika' of sociology, political science and economics by offering important contributions to the study of bonding and bridging social capital networks. This inter-disciplinary Handbook intends to serve as a bridge for students and scholars within all...... the social sciences. The contributors explore the different scientific approaches that are all needed if international research is to embrace both the bright and the more shadowy aspects of social capital....
Modern Human Capital Management
Feldberger, Madita
2008-01-01
Title: Modern Human Capital Management Seminar date: 30th of May 2008 Course: Master thesis in Business Administration, 15 ECTS Authors: Madita Feldberger Supervisor: Lars Svensson Keywords: Human capital, SWOT Analysis, Strategic Map, Balanced Scorecard Research Problem: Despite of the success of Human Capital Management (HCM) in research it did not arrive yet in the HR departments of many companies. Numerous firms even have problems to set their strategic goals with focus on HR. The HR Bala...
The "Network Ethic" and the New Spirit of Capitalism in French Sociology of Capitalism
DEFF Research Database (Denmark)
Jagd, Søren
2005-01-01
forms of organisation have received less attention. In this paper I discuss a recent French contribution to the analysis of the cultural aspects of networks: Boltanski & Chiapellos book Le nouvel esprit du capitalisme (Boltanski and Chiapello 1999). The contribution is important for recent discussions...... of a network perspective on organisations in several ways. First, drawing on Webers earlier discussion of the rise of the capitalist spirit, Boltanski and Chiapello proposes an interesting theoretical model of the change of capitalism relating two different types of cultural elements: the spirit...... of capitalism and criticism of capitalism to processes of change in the form of capitalism. Second, Boltanski and Chiapello directs a critical perspective on the emergent model of network capitalism and its accompanying spirit applying the theoretical framework of worlds of justification developed earlier...
Exploring the social capital grid
DEFF Research Database (Denmark)
Svendsen, Gunnar Lind Haase; Patulny, Roger
2007-01-01
The purpose of this paper is to show that numerous studies have advanced social capital research over the past decade. Most studies have accepted the theoretical distinction between bonding and bridging social capital networks. Many, however, tend to agglomerate empirical research under the one...... catch-all social capital concept, rather than classifying it according to the bonding/bridging distinction. Furthermore, most studies make little distinction on the basis of methodology, between qualitative and quantitative approaches to investigating social capital. These omissions need to be addressed....
Immigrant Capital and Entrepreneurial Opportunities
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Malavika Sundararajan
2016-01-01
Full Text Available Objective: The main objective of this study is to define and operationalize the concept of immigrant capital, a key factor that differentiates immigrant from host country entrepreneurs in how they recognize and start new ventures. Research Design & Methods: A detailed analysis of contemporary immigrant entrepreneurship and opportunity recognition literature was carried out. Using grounded theory, we synthesized the outcomes from the analysis of eight Canadian and U.S. case studies of successful immigrant entrepreneurs with the key findings from the literature to define and develop a model of immigrant capital. Findings: Based on our grounded theory development process we show that the concept of immigrant capital as a distillate of human, cultural, economic and social capital that goes beyond expected opportunity recognition (OR drivers like prior knowledge and prior experience to differentiate and enhance the immigrant entrepreneur’s ability to recognize business opportunities compared to host country entrepreneurs. We found immigrant capital to be a consequence of being boundary spanners in host and home country networks. Implications & Recommendations: Understanding a unique resource like immigrant capital, will help immigrant as well as host country entrepreneurs further develop their opportunity recognition ability by bridging gaps and fulfilling the needs for both, immigrant and host country consumers. Contribution & Value Added: The main contribution is the theoretical development, identification and definition of the immigrant capital model and propositions that will articulate the factors that lead to the conceptualization and operationalization of immigrant capital. Furthermore, the immigrant capital model can serve host country entrepreneurs to develop cross-cultural networks and jump-start entrepreneurial activities in their home countries as well as learn how to expand their operations into global markets.
Crook, T Russell; Todd, Samuel Y; Combs, James G; Woehr, David J; Ketchen, David J
2011-05-01
Theory at both the micro and macro level predicts that investments in superior human capital generate better firm-level performance. However, human capital takes time and money to develop or acquire, which potentially offsets its positive benefits. Indeed, extant tests appear equivocal regarding its impact. To clarify what is known, we meta-analyzed effects drawn from 66 studies of the human capital-firm performance relationship and investigated 3 moderators suggested by resource-based theory. We found that human capital relates strongly to performance, especially when the human capital in question is not readily tradable in labor markets and when researchers use operational performance measures that are not subject to profit appropriation. Our results suggest that managers should invest in programs that increase and retain firm-specific human capital.
Directory of Open Access Journals (Sweden)
M. N. Dudin
2016-01-01
Full Text Available The current state of the Russian economy is characterized as unstable in the background influence of a combination of factors, including which are rooted in a fairly distant past. Delayed impact of these factors is expressed in the fact that the transition to innovation-oriented and environmentally responsible economic growth is difficult in many ways. But, despite this, the Russian economy is strong enough and gained significant development potential. Available reserves and potential accumulated national economies could be realized through the use of a new formation: the institutions 'growing'. This methodical approach, and this practice is well established itself abroad (USA, Japan and many countries of the European Union, it is proposed to use this experience in Russian conditions. The basis for the efficient functioning of the institutions «growing» forms the venture ecosystem. Venture Ecosystem – a specially built set of structural components that define the goals, objectives and directions of development of the system in accordance with its strategic purpose in the economy. In this article defined the concept of venture capital ecosystem, considered the objectives and components of the venture capital ecosystem, the characteristic of the state of the domestic venture capital ecosystem highlighted ways to improve it. Resulting in the conclusions and definitions may be used in the practice of building the institutional venture capital environment, focused on the full support of innovative activity of small and medium-sized businesses. In addition, the conclusions and recommendations contained in the article can be used in the development of normative legal acts, including those aimed at promoting high-tech sectors of the Russian economy.
SOCIAL CAPITAL AND CIVIC PARTICIPATION
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Melike ERDOGAN
2010-07-01
Full Text Available The concept of social capital has a long intellectual history in the fie ld of social sciences. In recent years, interest of scholars from sociology, po litical science, economics and public administration is rapidly increasing. The reason for this increasing interest is that it has been aware of the importance of social capital in communities’ administrative, social, economic and political development. In this sense, the concept of social ca pital is an issue to be discussed with solution of current problems of public administration, subjects of governance, civil society, and participation. Social capital has a lot of definitions which are completely different from each other. Common point of these different definitions is that social capital is a resource at both individual and community level. We will use Robert Putnam’s defi nition about social cap ital in this paper. Putnam (1993 defines social capital as “features of social organization, such as trust, norms, and networks that can improve the efficiency of society by facilitating coordinated action”. In his book; Bowling Alone: The Collapse and Revival of the American Community, Putnam describes declining social capital in America. He analyzes relationship between social capital and civic participation and assumes that there is a positive relationship between social capital and civic participation. The paper aims to reveal how there is a relationshi p between social capital and civic participation in Central Florida. We will use “The Central Florida Social Capital Community Benchmark Survey that is made by The Survey Research Labora tory in the Ins titute for Social and Behavior Sciences at the University of Central Florida among central Florida residents. We use notion of civic participation not only as voting but also as concern of politics, volunteering, attending a political meeting, participating in any demonstrations, protests or boycotts, cooperating to solve problems and
Knowledge Is "a Form of Venture Capital" for a Top Columbia Administrator.
Blumenstyk, Goldie
2001-01-01
Explains how for Michael M. Crow, executive vice provost at Columbia University, knowledge is a form of venture capital. This means pushing Columbia beyond the usual role of creating knowledge and disseminating it in traditional manners, and instead taking the knowledge, incubating it, and projecting it using tools like the Internet. (SM)
Social capital and localised learning
DEFF Research Database (Denmark)
Lorenzen, Mark
2007-01-01
This conceptual paper analyses why social capital is important for learning and economic development, how it is created and its geography. It argues that with the rise of globalisation and learning-based competition, social capital is becoming valuable because it organises markets, lowering...... business firms' costs of co-ordinating and allowing them flexibly to connect and reconnect. The paper defines social capital as a matrix of various social relations, combined with particular normative and cognitive social institutions that facilitate co-operation and reciprocity, and suggests that social...... capital is formed at spatial scales lower than the national or international, because the density of matrices of social relations increases with proximity. The paper also offers a discussion of how national and regional policies may be suited for promoting social capital....
Directory of Open Access Journals (Sweden)
Ohdanskiy K. M.
2015-05-01
Full Text Available The real state of the capital assets’ disposal through the national economy sectors is determined in comparison with the result of capital assets use in the country’s economic complex in general in the time period of 1990-2012. It has been proved that the apparent total results regarding efficiency achieved in capital assets use through the sectors of economy do not demonstrate their real effect on the capital productivity ratio of the national economy in the whole. Analysis of the effect of the labor instruments concentrated in the national economy sectors on the national capital productivity ratio has been made. The sectors with their stuff which really determine the level of capital assets use in the country have been identified. Existence and development of the institute of economic initiatives have been proved. The fact is that the economic initiatives mentioned above concentrate their efforts on the improvement of capital assets use and the need to attract attention of the subjects of economic activities to the social development concept.
Knowledge Dynamics Impact on Intellectual Capital in Organizations
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Ruxandra BEJINARU
2016-12-01
Full Text Available The purpose of this paper is to show the influence of knowledge dynamics processes upon the intellectual capital in organizations. In the literature, the authors focus on knowledge dynamics and knowledge management or intellectual capital but very few papers discuss the influence of knowledge dynamics upon the structure and functionality of intellectual capital in organizations. We use a conceptual approach based on the theory of multifield organizational knowledge and the theory of organizational integrators to demonstrate that intellectual capital structure results from the organizational knowledge dynamics. The well-known model of intellectual capital based on human capital, structural capital and relational capital appears as a meta-model that can be decomposed into rational capital, emotional capital and spiritual capital in organizations.
C. Spechler, Martin; Ahrens, Joachim; Hoen, Herman W.
2017-01-01
The book specifies the type of economic system that has arisen in Central Asian. It presents three types of state-capitalism established in the former Soviet Union states in Eurasia - crony, dual sector, and predatory capitalism.
Effect of capital constraints on risk preference behavior of commercial banks
Institute of Scientific and Technical Information of China (English)
Li Ma; Junxun Dai; Xian Huang
2011-01-01
Purpose-The purpose of this paper is to analyze how the financial supervision authority utilizes the restrictions of capital constraints imposing on commercial banks the need to develop the macro economy.Design/methodology/approach-This paper uses multilateral game to deduce the loan characteristics of banks,vector and void coordinates to analyze the behavior choices of banks under capital supervision,sets up an index to describe the risk preference of banks,and analyzes the process with Chinese data empirically.Findings-This paper finds big banks have a loan preference for big enterprises and small banks have a preference for establishing a bank syndicate to pursue large projects.Further,the paper notes the conditions by which the heterology banks choose loans across the border and proves that changes of capital requirements would force the credit structure of the commercial banks to adjust along an efficient frontier broken line or an efficient frontier plane under the conditions of interest rate regulation or interest rate marketization,respectively.Research limitations/implications-It is very complex to describe the choices of risk behavior of banks and the simple supervision method needs to be adjusted.Practical implications-This paper finds that banks show risk preferences of credit structure,and capital constraints would affect it greatly;regulators should guard against capital constraint softening.Originality/value-It is the first time that the conditions of banks beyond the loan border have been studied and the behavior adjustment of banks using the vector and void coordinate analyzed.
Asset management and the calculation of capital costs for mains-usage fees
International Nuclear Information System (INIS)
Huser, A.; Liggenstorfer, S.; Bill, M.
2007-01-01
This article discusses the requirements stipulated in the Swiss Electricity Supply Law that capital costs for all mains-levels must be declared on a yearly basis. The costs are calculated from current market value and depreciation according to technical lifetime. The authors examine the requirements placed on the declaration of capital costs and how they are calculated. The detailed book-keeping needed is discussed as is the large volume of data involved. The role of existing mains information systems is looked at, as are methods of assessing current assets. Experience gained in practice is discussed: This is taken as the basis for future processes. Utilities participating in the project and a number of solutions available are noted
Changing Endogenous Development: the Territorial Capital
Directory of Open Access Journals (Sweden)
Balázs István Tóth
2011-12-01
Full Text Available The aim of this research is to analyze territorial capital as a new paradigm to make best use of endogenous assets. The study is dealing with the preconditions, meaning and possible theoretical taxonomies of territorial capital. In this study I emphasize that the cumulative effects of regional potentials are more important than economies of scale and location factors. I present different approaches and interpretations of territorial capital, then make an attempt to create an own model. I try to find answers for questions, such as why territorial capital shows a new perspective of urban and regional development; how cognitive elements of territorial capital provide increasing return; how territorial capital influences competitiveness and what kind of relation it has with cohesion.
An Economic Viewpoint on Capitalism Bashing
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Burnete Sorin
2016-12-01
Full Text Available In this paper I discuss two long disputed notions: that capitalism without crises is a fallacy respectively that capitalism bashing, however severe, will not endanger the system itself. Yet proving both is not an easy task since the capitalism issue has always been a cupellation of theory, ideology and political precepts, which are controversial and hard to disentangle. That capitalism detractors are numberless is a truism. Yet criticism against capitalism, however fierce, has always been clearly delineated. Not any more: globalization has rendered the picture dangerously fuzzy. It is now hard to ascertain whether someone who will harangue about the ostensible evils of globalization is also a declared anti-capitalist. The blend of capitalism and globalization seems to be pure dynamite.
Social Capital and Online Games
Safferling, Christoph
2011-01-01
We use data from an online game economy and econometric matching methods to test whether social capital of players has an impact on game success. Membership in a 'clan', a voluntary organization of players, positively impacts game success. Hence, social capital has a positive effect on outcomes. Yet, top performers do not gain from access to this social capital.
A Typology of Social Capital and Associated Network Measures
Jackson, Matthew O.
2017-01-01
I provide a typology of social capital, breaking it down into seven more fundamental forms of capital: information capital, brokerage capital, coordination and leadership capital, bridging capital, favor capital, reputation capital, and community capital. I discuss how most of these forms of social capital can be identified using different network-based measures.
International Nuclear Information System (INIS)
Reynolds, Travis W.; Farley, Joshua; Huber, Candice
2010-01-01
Ethiopia remains underdeveloped due to limitations in natural, human, social and built capital. A 2006 scientific atelier conducted in the city of Awassa, Ethiopia investigated investments in human and natural capital as a sustainable development strategy. Local stakeholders identified firewood shortages, degradation of croplands, rising lake levels encroaching on croplands and poor water quality as major impediments to development. They further identified ecological degradation as a key component of these problems, and they acknowledged multiple vicious cycles compounding the environmental and economic threats to the Awassa community. Proposed solutions included investment in natural capital in the form of reforestation activities, investment in human capital in the form of promoting more efficient wood stoves along with increasing public awareness of environmental threats, and investments in social capital in the form of inter-institutional coordination to address environmental problems. All recommended investments rely primarily on national resources, in distinct contrast to the extensive imports required for most built capital investments. Unfortunately, Awassa lacks the surplus necessary for major capital investments of any kind. The atelier therefore helped local participants identify potential funders and write grant proposals for various projects, though none have been funded so far. Reversing the ecological degradation on the scale necessary for sustained economic development in Ethiopia however will require a steady flow of substantial investments, and cannot rely solely on the short term generosity of funders. International payments for carbon sequestration and other ecosystem services could help provide the necessary resources. (author)
Energy Technology Data Exchange (ETDEWEB)
Reynolds, Travis W. [Evans School of Public Affairs, University of Washington, Seattle, Washington, 98195 (United States); Farley, Joshua [Gund Institute for Ecological Economics and Department of Community Development and Applied Economics, University of Vermont, Burlington, Vermont, 05405 (United States); Huber, Candice [UVM Agricultural Extension Service, University of Vermont, Burlington, Vermont, 05405 (United States)
2010-09-15
Ethiopia remains underdeveloped due to limitations in natural, human, social and built capital. A 2006 scientific atelier conducted in the city of Awassa, Ethiopia investigated investments in human and natural capital as a sustainable development strategy. Local stakeholders identified firewood shortages, degradation of croplands, rising lake levels encroaching on croplands and poor water quality as major impediments to development. They further identified ecological degradation as a key component of these problems, and they acknowledged multiple vicious cycles compounding the environmental and economic threats to the Awassa community. Proposed solutions included investment in natural capital in the form of reforestation activities, investment in human capital in the form of promoting more efficient wood stoves along with increasing public awareness of environmental threats, and investments in social capital in the form of inter-institutional coordination to address environmental problems. All recommended investments rely primarily on national resources, in distinct contrast to the extensive imports required for most built capital investments. Unfortunately, Awassa lacks the surplus necessary for major capital investments of any kind. The atelier therefore helped local participants identify potential funders and write grant proposals for various projects, though none have been funded so far. Reversing the ecological degradation on the scale necessary for sustained economic development in Ethiopia however will require a steady flow of substantial investments, and cannot rely solely on the short term generosity of funders. International payments for carbon sequestration and other ecosystem services could help provide the necessary resources. (author)
Contracting Economics of Large Engineering and Construction Projects
Berends, T.C.
2007-01-01
Large Engineering and Construction Projects (LECPs) form an important area of economic activity, covering a range of different artefacts. These projects have in common that they are massive undertakings, spanning long time periods and they involve large capital investments. Uncertainty and risk are
Hospital safeguards capital program through private sector partnership.
Thomas, J; Lungo, A; Bobrow, M
1984-02-01
As access to capital tightens, more hospitals are exploring the benefits of partnerships with private companies. A California hospital, burdened by the long-term debt it incurred for a medical office building, worked together with its medical staff and an outside real estate developer. By selling the building to the developer, not only was the hospital able to finance a much-needed expansion and reconstruction project, but the hospital's medical staff had an opportunity to become limited partners in the ownership of the building.
Individual social capital and survival
DEFF Research Database (Denmark)
Ejlskov, Linda; Mortensen, Rikke N; Overgaard, Charlotte
2014-01-01
BACKGROUND: The concept of social capital has received increasing attention as a determinant of population survival, but its significance is uncertain. We examined the importance of social capital on survival in a population study while focusing on gender differences. METHODS: We used data from...... a Danish regional health survey with a five-year follow-up period, 2007-2012 (n = 9288, 53.5% men, 46.5% women). We investigated the association between social capital and all-cause mortality, performing separate analyses on a composite measure as well as four specific dimensions of social capital while...... controlling for covariates. Analyses were performed with Cox proportional hazard models by which hazard ratios and 95% confidence intervals were calculated. RESULTS: For women, higher levels of social capital were associated with lower all-cause mortality regardless of age, socioeconomic status, health...
Human capital and career success
DEFF Research Database (Denmark)
Frederiksen, Anders; Kato, Takao
capital formally through schooling for career success, as well as the gender gap in career success rates. Second, broadening the scope of human capital by experiencing various occupations (becoming a generalist) is found to be advantageous for career success. Third, initial human capital earned through......Denmark’s registry data provide accurate and complete career history data along with detailed personal characteristics (e.g., education, gender, work experience, tenure and others) for the population of Danish workers longitudinally. By using such data from 1992 to 2002, we provide rigorous...... formal schooling and subsequent human capital obtained informally on the job are found to be complements in the production of career success. Fourth, though there is a large body of the literature on the relationship between firm-specific human capital and wages, the relative value of firm-specific human...
Timely loss recognition and termination of unprofitable projects
Directory of Open Access Journals (Sweden)
Anup Srivastava
2015-09-01
Full Text Available Ideally, firms should discontinue projects that become unprofitable. Managers, however, continue to operate such projects because of their limited employment horizons and empire-building motivations (Jensen, 1986; Ball, 2001. Prior studies suggest that timely loss recognition in accounting earnings enables lenders, shareholders, and boards of directors to identify unprofitable projects; thereby, enabling them to force managers to discontinue such projects before large value erosion occurs. However, this conjecture has not been tested empirically. Consistent with this notion, we find that timely loss recognition increases the likelihood of timely closures of unprofitable projects. Moreover, managers, by announcing late discontinuations of such projects, reveal their inability to select good projects and/or to contain losses, when projects turn unprofitable. Accordingly, thereafter, the fund providers and board of directors are likely to demand improved timeliness of loss recognition and stringent scrutiny of firms’ capital expenditure plans. Consistently, we find that firms that announce large discontinuation losses reduce capital expenditures and improve timeliness of loss recognition in subsequent years. Our study provides evidence that timely loss reporting affects “real” economic decisions and creates economic benefits.
Buys, Laurie; Miller, Evonne
2009-01-01
This exploratory pilot study investigates the extent to which participating in a community cultural development (CCD) initiative builds social capital among children. An independent youth arts organisation implemented two cultural activities, developing a compact disc of original music and designing mosaic artworks for a library courtyard, in two…
El capital humano en el sistema de precios Human capital in the price system
Directory of Open Access Journals (Sweden)
Cuevas Homero
1996-06-01
Full Text Available Este ensayo explora algunas implicaciones fundamentales de la introducción del capital humano en un sistema de equilibrio general de precios de producción. En particular, las implicaciones sobre las determinación de los salarios, los agregados, la homogeneidad del modelo de trabajo, las proporciones capital trabajo, la tasa natural del beneficio y las fluctuaciones de los precios de equilibrio.This essay explores some fundamental implications of the introduction of human capital in a system of general equilibrium of prices of production. In particular, the implications concerning the determination of wages, the aggregates, the homogenei ty of labor, the capital-labor ratio, the natural rate of profit and the fluctuations of equilibrium prices.
Directory of Open Access Journals (Sweden)
Ahmad Saeed Khan
2005-03-01
Full Text Available A proposição deste estudo foi identificar e analisar o capital social tangível e intangível de comunidades beneficiadas com os recursos do Programa de Combate a Pobreza Rural -PCPR/Projeto São José no Estado do Ceará. Os dados são originários de entrevistas diretas com beneficiários e líderes de comunidades onde foram implantados subprojetos de abastecimento de água, ação fundiária, eletrificação rural e mecanização agrícola. Determinou-se o índice de capital social para cada subprojeto. Os resultados indicaram que as associações possuem um nível médio de acumulação de capital social e que os recursos aplicados pelo PCPR/PSJ contribuíram para avançar na acumulação deste capital nas associações e/ou comunidades.The objective of this study was to identify and analyze tangible and intangible social capital of benefited communities by the resources of rural Poverty Reduction Program in the State of Ceará. Data were obtained by interviewing individuals and leaders of communities benefited by projects such as water supply, land reform, rural electrification and agricultural mechanization. A social capital index was built for each type of project. The results indicated that communities have medium level of social capital accumulation and resources supplied by this program contributed to increase social capital in these communities.
Venture capital and internationalization
Schertler, A.G.; Tykvova, T.
Cross-border investments represent a substantial share of venture capital activities. We use a comprehensive dataset on investments worldwide to analyze the internationalization of venture capital financing. We postulate that cross-border activity is shaped by macroeconomic factors in the venture
Energy Technology Data Exchange (ETDEWEB)
Ribeiro Filho, Valfredo de Assis; Ramos, Maria Olivia de Souza [Universidade Salvador (UNIFACS), BA (Brazil)
2008-07-01
The aim of this paper is to discuss the modality of project finance of financing of enterprises, which is the main modality of structuring of hydroelectric projects in Brazil. In the discussion will be highlighted the importance of contracts EPC (Engineering, Search and Construction) in the structuring of project finances. This financing model has particular characteristics related to risk sharing and financial flexibility that enable the financing of projects with long-term capital, however, due to participation of various actors and the nature of the structure of project finance, the negotiation and drafting of contracts are always very complex.
INSURANCE AND THE CORPORATE COST OF CAPITAL
Directory of Open Access Journals (Sweden)
Monika Wieczorek-Kosmala
2012-04-01
Full Text Available The purpose of the paper is to provide some support to the thesis that insurance may reduce the cost of capital in a company by influencing both the cost of capital components and the need for rising capital. The problem is here perceived from two perspectives – the classical concept related to the weighted average cost of capital (WACC and a novel concept related to the risk-based capital structure model with the total average cost of capital (TACC. The paper explains the idea of insurance as a retrospective (post-loss risk financing tool and the risk transfer mechanism upon it. As the risk financing tool insurance reduces the need for the balance-sheet capital in a company and thus the financial distress costs. Also, insurance may reduce the level of operating risk and thus influences the required returns of the capital providers. These observations allow emphasising the impact of insurance on the WACC. However, according to the novel concept of the risk-based capital structure, insurance (as a risk financing tool represents an off-balance sheet capital component. As a consequence, it extends the volume of total capital. The presented conceptual model, based on the TACC concept, indicates that large volume of insurance (the insurance sum and its relatively low cost (the insurance premium gives the possibility to the significant reduction of the cost of capital on average. The concluding remarks discuss some dilemmas over the utility of the TACC concept.
A Model Suggestion to Predict Leverage Ratio for Construction Projects
Directory of Open Access Journals (Sweden)
Özlem Tüz
2013-12-01
Full Text Available Due to the nature, construction is an industry with high uncertainty and risk. Construction industry carries high leverage ratios. Firms with low equities work in big projects through progress payment system, but in this case, even a small negative in the planned cash flows constitute a major risk for the company.The use of leverage, with a small investment to achieve profit targets large-scale, high-profit, but also brings a high risk with it. Investors may lose all or the portion of the money. In this study, monitoring and measuring of the leverage ratio because of the displacement in cash inflows of construction projects which uses high leverage and low cash to do business in the sector is targeted. Cash need because of drifting the cash inflows may be seen due to the model. Work should be done in the early stages of the project with little capital but in the later stages, rapidly growing capital need arises.The values obtained from the model may be used to supply the capital held in the right time by anticipating the risks because of the delay in cashflow of construction projects which uses high leverage ratio.
HYFIRE II: fusion/high-temperature electrolysis conceptual-design study. Annual report
International Nuclear Information System (INIS)
Fillo, J.A.
1983-08-01
As in the previous HYFIRE design study, the current study focuses on coupling a Tokamak fusion reactor with a high-temperature blanket to a High-Temperature Electrolyzer (HTE) process to produce hydrogen and oxygen. Scaling of the STARFIRE reactor to allow a blanket power to 6000 MW(th) is also assumed. The primary difference between the two studies is the maximum inlet steam temperature to the electrolyzer. This temperature is decreased from approx. 1300 0 to approx. 1150 0 C, which is closer to the maximum projected temperature of the Westinghouse fuel cell design. The process flow conditions change but the basic design philosophy and approaches to process design remain the same as before. Westinghouse assisted in the study in the areas of systems design integration, plasma engineering, balance-of-plant design, and electrolyzer technology
Cost of capital to the hospital sector.
Sloan, F A; Valvona, J; Hassan, M; Morrisey, M A
1988-03-01
This paper provides estimates of the cost of equity and debt capital to for-profit and non-profit hospitals in the U.S. for the years 1972-83. The cost of equity is estimated using, alternatively, the Capital Asset Pricing Model and Arbitrage Pricing Theory. We find that the cost of equity capital, using either model, substantially exceeded anticipated inflation. The cost of debt capital was much lower. Accounting for the corporate tax shield on debt and capital paybacks by cost-based insurers lowered the net cost of capital to hospitals.
NREL-Led Efforts Help Bring Financing to Solar Projects - Continuum
source of costs and estimating specific project costs, to helping large institutional investors direct , operations, and maintenance-as well as good-quality data on asset performance-we can allow the cash flows projects, analyzing proposed projects for their capital costs, operating costs, power production, and
Czech Academy of Sciences Publication Activity Database
Matějů, Petr; Vitásková, Anna
2006-01-01
Roč. 42, č. 3 (2006), s. 493-516 ISSN 0038-0288 R&D Projects: GA MPS(CZ) 1J/005/04-DP2; GA ČR(CZ) GA403/03/0340 Institutional research plan: CEZ:AV0Z70280505 Keywords : social capital * trust * komparative analyse Subject RIV: AO - Sociology, Demography Impact factor: 0.128, year: 2006
DEFF Research Database (Denmark)
Sossan, Fabrizio; Bindner, Henrik W.; Madsen, Henrik
2014-01-01
The objective of this paper is to analyze the value of energy replacement in the context of demand response. Energy replacement is dened as the possibility of the consumer to choose the most convenient source for providing space heating to a smart building according to a dynamic electricity price....... In the proposed setup, heat is provided by conventional electric radiators and a combined heat and power generation system, composed by a fuel cell and an electrolyzer. The energy replacement strategy is formulated using model predictive control and mathematical models of the components involved. Simulations show...... that the predictive energy replacement strategy reduces the operating costs of the system and is able to provide a larger amount of regulating power to the grid. In the paper, we also develop a novel dynamic model of a PEM fuel cell suitable for micro-grid applications. The model is realized applying a grey...
CAPITAL FLOWS AND THEIR SECTORAL DESTINATIONS
Directory of Open Access Journals (Sweden)
Petris Sorina
2012-07-01
Full Text Available Since 2003, New European Union Member States have made large capital inflows, which led to a credit crunch and recession. Whether they are foreign direct investment, or banking flows, capital inflows ultimately affect GDP, depending on how they are invested. In the specialty literature, analysis of capital flows was done especially in terms of their structure, with a lack of analysis in terms of final destination of capital inflows. Therefore, we analyzed the effect of capital inflows on GDP in the New Member States of the European Union (Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania and Slovakia over the last economic cycle. Based on experiences of the new Member States during the recent boom and crisis, the paper studies the impact of capital inflows on GDP growth, inflows channeled to economic sectors, such as real estate and corporate investment sector. The results of this research tries to highlight the extent to which the final destination of capital flows is important for the evolution of GDP.
Interning and Investing: Rethinking Unpaid Work, Social Capital, and the “Human Capital Regime”
Directory of Open Access Journals (Sweden)
Sophie Hope
2015-09-01
Full Text Available For young workers, interning is a strategy for speculating on one’s asset portfolio. Students and graduates undertake internships as a way of maintaining their self-appreciation and avoiding depreciation in a “human capital regime.” In this article, we explore the specific example of interning in the creative industries as the self-management of human capital vis-à-vis the human capital theses. Taking three cultural objects and recent representations of the issue of unpaid internships—Intern magazine, an advert for a “volunteering opportunity” student placement, and testimonies from interns—we analyze how unpaid work in the creative industries and the neoliberal version of human capital entrepreneurship can be seen as embodied by interns.
Time-Varying Capital Requirements and Disclosure Rules
DEFF Research Database (Denmark)
Imbierowicz, Björn; Kragh, Jonas; Rangvid, Jesper
2018-01-01
We investigate how banks' capital and lending decisions respond to changes in bank-specific capital and disclosure requirements. We find that an increase in the bank-specific regulatory capital requirement results in a higher bank capital ratio, brought about via less asset risk. A decrease...
Rethinking participation in the Aarhus as European Capital of Culture 2017 project
DEFF Research Database (Denmark)
Jancovich, Leila; Hansen, Louise Ejgod
2018-01-01
and exhibitions. In addition, it aspired to use culture as a catalyst for development not only in the city of Aarhus but across the region of Central Denmark. This paper, therefore, examines how participation is defined and implemented to address regional development in the Aarhus 2017 process through textual......This paper examines the relationship between cultural participation and regional development with reference to the European Capital of Culture in 2017. From the bidding stage, Aarhus 2017 claimed it put “participation” at the heart of its strategic plans, through consultation at roadshows...... cultural provision that supports both amateurs and professionals through a regional networked structure....
Rethinking Participation in the Aarhus as European Capital of Culture 2017-project
DEFF Research Database (Denmark)
Hansen, Louise Ejgod; Jancovich, Leila
and exhibitions. In addition it aspired to use culture as a catalyst for development not only in the city of Aarhus but across the region of Central Denmark. This paper therefore examines how participation is defined and implemented to address regional development in the Aarhus 2017 process through textual......This paper examines the relationship between cultural participation and regional development with reference to the European Capital of Culture in 2017. From the bidding stage Aarhus 2017 claimed it put “participation” at the heart of its strategic plans, through consultation at roadshows...... cultural provision, that supports both amateurs and professionals through a regional networked structure....
Hinton, Kip Austin
2015-01-01
Social science research on communities of color has long been shaped by theories of social and cultural capital. This article is a hermeneutic reading of metaphorical capital frameworks, including community cultural wealth and funds of knowledge. Financial capital, the basis of these frameworks, is premised on unequal exchange. Money only becomes…
Experience in independent power production: Two projects that closed
Energy Technology Data Exchange (ETDEWEB)
Kappaz, M.H.
1994-12-31
K and M Engineering and Consulting Corporation`s experience in independent power production is outlined. The following topics are discussed: the KMR Power Corporation, K and M strengths and strategy, key success factors, project experience, selected projects, and capital structure.
12 CFR 933.5 - Disclosure to members concerning capital plan and capital stock conversion.
2010-01-01
... total capital-to-asset ratio (both of which shall be based on the same financial data used for the... the liquidity, capital, earnings or continuing operations of the Bank, including those affecting...
Migration, income redistribution, and international capital mobility
Meckl, Jürgen
1994-01-01
This paper studies income-redistribution effects from labor migration in a small open economy under alternative assumptions on the international mobility of capital. Our principal result is that induced international capital flows dampen or may even reverse redistribution effects. However, as long as the location of capital is unaffected by migration redistribntion effects may be greater if some of the capital is foreign owned, depending on whether labor and capital are friends or enemies. On...
Measuring social capital: further insights.
Carrillo Álvarez, Elena; Riera Romaní, Jordi
Social capital is defined as the resources available to individuals and groups through membership in social networks. However, multiple definitions, distinct dimensions and subtypes of social capital have been used to investigate and theorise about its relationship to health on different scales, creating a confusing picture. This heterogeneity makes it necessary to systematise social capital measures in order to build a stronger foundation in terms of how these associations between the different aspects of social capital and each specific health indicator develop. We aim to provide an overview of the measurement approaches used to measure social capital in its different dimensions and scales, as well as the mechanisms through which it is presumed to influence health. Understanding the mechanisms through which these relationships develop may help to refine the existing measures or to identify new, more appropriate ones. Copyright © 2016 SESPAS. Publicado por Elsevier España, S.L.U. All rights reserved.
Human capital strategy: talent management.
Nagra, Michael
2011-01-01
Large organizations, including the US Army Medical Department and the Army Nurse Corps, are people-based organizations. Consequently, effective and efficient management of the human capital within these organizations is a strategic goal for the leadership. Over time, the Department of Defense has used many different systems and strategies to manage people throughout their service life-cycle. The current system in use is called Human Capital Management. In the near future, the Army's human capital will be managed based on skills, knowledge, and behaviors through various measurement tools. This article elaborates the human capital management strategy within the Army Nurse Corps, which identifies, develops, and implements key talent management strategies under the umbrella of the Corps' human capital goals. The talent management strategy solutions are aligned under the Nurse Corps business strategy captured by the 2008 Army Nurse Corps Campaign Plan, and are implemented within the context of the culture and core values of the organization.
47 CFR 36.182 - Cash working capital.
2010-10-01
... 47 Telecommunication 2 2010-10-01 2010-10-01 false Cash working capital. 36.182 Section 36.182... PROCEDURES; STANDARD PROCEDURES FOR SEPARATING TELECOMMUNICATIONS PROPERTY COSTS, REVENUES, EXPENSES, TAXES... Cash Working Capital § 36.182 Cash working capital. (a) The amount for cash working capital, if not...
Hospital Capital Investment During the Great Recession.
Choi, Sung
2017-01-01
Hospital capital investment is important for acquiring and maintaining technology and equipment needed to provide health care. Reduction in capital investment by a hospital has negative implications for patient outcomes. Most hospitals rely on debt and internal cash flow to fund capital investment. The great recession may have made it difficult for hospitals to borrow, thus reducing their capital investment. I investigated the impact of the great recession on capital investment made by California hospitals. Modeling how hospital capital investment may have been liquidity constrained during the recession is a novel contribution to the literature. I estimated the model with California Office of Statewide Health Planning and Development data and system generalized method of moments. Findings suggest that not-for-profit and public hospitals were liquidity constrained during the recession. Comparing the changes in hospital capital investment between 2006 and 2009 showed that hospitals used cash flow to increase capital investment by $2.45 million, other things equal.
Hospital Capital Investment During the Great Recession
Choi, Sung
2017-01-01
Hospital capital investment is important for acquiring and maintaining technology and equipment needed to provide health care. Reduction in capital investment by a hospital has negative implications for patient outcomes. Most hospitals rely on debt and internal cash flow to fund capital investment. The great recession may have made it difficult for hospitals to borrow, thus reducing their capital investment. I investigated the impact of the great recession on capital investment made by California hospitals. Modeling how hospital capital investment may have been liquidity constrained during the recession is a novel contribution to the literature. I estimated the model with California Office of Statewide Health Planning and Development data and system generalized method of moments. Findings suggest that not-for-profit and public hospitals were liquidity constrained during the recession. Comparing the changes in hospital capital investment between 2006 and 2009 showed that hospitals used cash flow to increase capital investment by $2.45 million, other things equal. PMID:28617202
Banks’ Capital and Liquidity Creation
Horváth, Roman; Seidler, Jakub; Weill, Laurent
2012-01-01
This paper examines the relation between banks’ capital and liquidity creation. This issue is of interest to determine the potential impact of higher capital requirements for banks on their liquidity creation, which may have particular importance with new Basel III reform demanding from banks higher capital. We perform Granger-causality tests in a dynamic GMM panel estimator framework on an exhaustive dataset of Czech banks from 2000 to 2010.
Global capital markets: An updated profile
Directory of Open Access Journals (Sweden)
Filipović Miroslava
2007-01-01
Full Text Available More than two decades after the beginning of the financial revolution globalization of capital flows still attracts considerable attention, from both practitioners and academics. The aim of this paper is to contribute to understanding of some aspects of the global capital scene, as well as to emphasize certain developments which might illustrate its changing profile. Several fundamental perspectives profile the global capital market. A quantitative review provides a sense of sheer volumes, trends, origins and destinations of capital flows; an assessment of the global capital market’s degree of integration follows. The emergence of new (types of actors is another important aspect of the global processes, while illustrations of new market products and emerging segments may add new perspectives on the profile of the global capital market. Finally, the paper concludes with a brief overview of digitalization of the financial supply chain.
Corporate governance and intellectual capital
Directory of Open Access Journals (Sweden)
Rahmat Alizadeh
2014-01-01
Full Text Available The purpose of this paper is to examine the association between corporate governance and Intellectual capital in the pharmaceutical companies accepted in Tehran Stock Exchange over the period 2004-2009 using a regression based model. The study investigates the impacts of three some independent variables of the corporate governance (i.e. the number of board members, the relative extent of nonexecutive to executive directors, the auditing committee. The results suggest that corporate governance had no special effect on intellectual capital in the pharmaceutical companies. Furthermore among corporate governance's variables, the first one (i.e. board size had negative impact on firms' intellectual capital and the second and the third variables had no effects on intellectual capital.
Innovative funding solution for special projects: Crowd funding
Directory of Open Access Journals (Sweden)
Sentot Imam Wahjono
2015-06-01
Full Text Available The aim of this paper is to examine the influence of crowd funding knowledge, applica-tion, platform, and project initiator toward successful crowd funding. This study conducted by quantitative approach, data have been collected with web-based ques-tionnaires via Kickstarter.com direct message and e-mail to 200 successful crowd funding project initiators as a sample and as much 152 sets questionnaire returned by a complete answer and should be analyzed further. Deployment and data collection take 3 month from October to December 2013. This study found evidence that crowd funding knowledge, crowd funding application, crowd funding platform, and project initiator has positive and significant relationship toward the success of crowd funding. The implication from this research is crowd funding can be a source of capital to finance the projects, not just rely on traditional sources of financing just like banking and capital markets. Crowd funding can be innovative funding solution.
Indeterminacy and Business Fluctuations under Partial Capital Mobility
Directory of Open Access Journals (Sweden)
Jongkyou Jeon
2008-12-01
Full Text Available The paper examines a modified real business cycle model of a small open economy such as the Korean economy. The model economy is assumed to produce output with two types of capital: traded capital and non¡ⓒtraded capital. Domestic individuals can borrow from the world capital market only by using traded capital as collateral, and investment in non¡ⓒtraded capital must be financed by domestic savings. It implies that the capital mobility is partial rather than perfect although domestic residents have free access to the world capital market. By incorporating externalities into the production technology, the model economy is able to generate dynamic path of equilibrium time series solely driven by non¡ⓒfundamental shocks such as animal spirits of investors or self¡ⓒfulfilling expectations if the ratio of traded capital to total capital is sufficiently high. The paper shows that the second moment properties of the Korean aggregate data could be reproduced in a modified real business cycle framework where fluctuations are driven only by non¡ⓒfundamental shocks, not by the disturbances to economic fundamentals such as technology. This requires a high value of traded capital relative to total capital, which means that the domestic capital market must be highly integrated with the world capital market. It implies that there exists some critical level of capital mobility beyond which the business cycles of an open economy becomes highly vulnerable to non¡ⓒfundamental shocks such as self¡ⓒfulfilling expectations.
Membangun Human Capital Melalui Kepemimpinan Dan Komitmen Organisasi
Directory of Open Access Journals (Sweden)
Moh Nasih
2011-04-01
Full Text Available Every company is constructed through two kinds of capital, which is financial capital and intellectual capital. If the company's capital is described as a tree, the human capital, an essential part of intellectual capital, is the resin. Resin allows the tree grows, and only the human capital that enables organizations to grow and develop. Considering the strategic position of human capital, it is a compulsion for a company to develop it. The problem is how to build human capital effectively? This study aimed to identify the factors that determine the development of human capital in an organization. There are 2 (two major factors that hypothetically influence human capital, which is leadership and organizational commitment. Leadership does not directly affect human capital. Leadership influence human capital through organizational commitment. In other words, organizational commitment is an intervening variable for the relationship or the influence of leadership on human capital. This hypothesis is based on a 'fact' that the function of leadership is oriented and intended to obtain or build the commitment of each personnel. Only committed personnel will provide their best for the organization. Only through the best contributions of every personnel, human capital can be built and developed. Leadership is useless if it can not obtain and create commitment. Personnel are useless, no matter how many and how skilfull they are, if they do not contribute the best for the organization. The presence of personnel without their comitment will be the same with their absence; even they may actually be detrimental to the organization.
Intangible Capital, Corporate Valuation and Asset Pricing
Danthine, Jean-Pierre; Jin, Xiangrong
2006-01-01
Recent studies have found unmeasured intangible capital to be large and important. In this paper we observe that by nature intangible capital is also very different from physical capital. We find it plausible to argue that the accumulation process for intangible capital differs significantly from the process by which physical capital accumulates. We study the implications of this hypothesis for rational firm valuation and asset pricing using a two-sector general equilibrium model. Our main fi...
Private equity y venture capital: Diferenciación y principales características
Directory of Open Access Journals (Sweden)
Leonel Arango Vásquez
2015-03-01
Full Text Available El propósito de este artículo es explicar, desde la teoría, dos posibles opciones de financiación que tienen las empresas cuando éstas no pueden acceder a las fuentes tradicionales. La industria del Capital Riesgo surge así como una fuente alternativa de financiación. Esta industria opera a través de vehículos especiales de inversión llamados fondos Private Equity y fondos Venture Capital. En general, los primeros invierten en compañías maduras y desarrolladas, mientras que los segundos lo hacen en empresas nacientes y pequeñas. El ciclo de financiación que proveen estos fondos se estructura en tres etapas principales: captación de recursos, inversión y desinversión. En este artículo se explica la diferencia entre los términos Private Equity y Venture Capital, así como las principales características de las etapas mencionadas.Palabras clave: desinversión; Capital Riesgo; captación de fondos; inversión alternativa; pymes. Private equity and venture capital: Differentiation and main characteristicsAbstractThe purpose of this article with a qualitative approach aims to determine, from the theory the business environment, when companies are not capable to obtain financing through traditional sources, the Private Equity industry is viewed as an alternative source of finance for those companies. This industry operates through special investment vehicles named Private Equity Funds and Venture Capital Funds. In general, the former invest in develop and mature firms, the latter focus on infant and small companies. The financial cycle that these funds supply is structured in three main phases: fundraising phase, investment phase, and divestment phase or exit. This paper explains the difference between Private Equity and Venture Capital, as well as the main characteristics of the mentioned phases; through the methodology of content analysis, which aims to continue the research project of Venture Capital Industry in Colombia
Optimizing strategy software for repetitive construction projects within multi-mode resources
Directory of Open Access Journals (Sweden)
Remon Fayek Aziz
2013-09-01
Full Text Available Estimating tender data for specific project is the most essential part in construction areas as of contractor’s view such as: proposed project duration with corresponding gross value and cash flows. This paper focuses on how to calculate tender data using Optimizing Strategy Software (OSS for repetitive construction projects with identical activity’s duration in case of single number of crew such as: project duration, project/bid price, project maximum working capital, and project net present value of the studied project. A simplified multi-objective optimization software (OSS will be presented that creates best tender data to contractor compared with more feasible options generated from multi-mode resources in a given project. OSS is intended to give more scenarios which provide practical support for typical construction contractors who need to optimize resource utilization in order to minimize project duration, project/bid price, and project maximum working capital while maximizing its net present value simultaneously. OSS is designed by java programing code system to provide a number of new and unique capabilities, including: (1 Ranking the obtained optimal plans according to a set of planner specified weights representing the relative importance of duration, price, maximum working capital and net present value in the analyzed project; (2 Visualizing and viewing the generated optimal trade-off; and (3 Providing seamless integration with available project management calculations. In order to provide the aforementioned capabilities of OSS, the system is implemented and developed in four main modules: (1 A user interface module; (2 A database module; (3 A running module; (4 A connecting module. At the end of the paper, an illustrative example will be presented to demonstrate and verify the applications of the proposed software (OSS to an optimization expressway of repetitive construction project.
Modelling of capital requirements in the energy sector: capital market access. Final memorandum
Energy Technology Data Exchange (ETDEWEB)
1978-04-01
Formal modelling techniques for analyzing the capital requirements of energy industries have been performed at DOE. A survey has been undertaken of a number of models which forecast energy-sector capital requirements or which detail the interactions of the energy sector and the economy. Models are identified which can be useful as prototypes for some portion of DOE's modelling needs. The models are examined to determine any useful data bases which could serve as inputs to an original DOE model. A selected group of models are examined which can comply with the stated capabilities. The data sources being used by these models are covered and a catalog of the relevant data bases is provided. The models covered are: capital markets and capital availability models (Fossil 1, Bankers Trust Co., DRI Macro Model); models of physical capital requirements (Bechtel Supply Planning Model, ICF Oil and Gas Model and Coal Model, Stanford Research Institute National Energy Model); macroeconomic forecasting models with input-output analysis capabilities (Wharton Annual Long-Term Forecasting Model, Brookhaven/University of Illinois Model, Hudson-Jorgenson/Brookhaven Model); utility models (MIT Regional Electricity Model-Baughman Joskow, Teknekron Electric Utility Simulation Model); and others (DRI Energy Model, DRI/Zimmerman Coal Model, and Oak Ridge Residential Energy Use Model).
Social capital and workplace bullying.
Pihl, Patricia; Albertsen, Karen; Hogh, Annie; Andersen, Lars Peter Sønderbo
2017-01-01
Workplace bullying is a serious stressor with devastating short- and long-term consequences. The concept of organizational social capital may provide insights into the interactional and communicative dynamics of the bullying process and opportunities for prevention. This study aimed to explore the association between organizational social capital and being a target or observer of workplace bullying. Based on self-reported cross-sectional data from a large representative sample of the Danish working population (n = 10.037), logistic regression analyses were conducted to explore at the individual level the associations between vertical and horizontal organizational social capital with being a target or observer of workplace bullying. In the fully adjusted models, low organizational social capital (vertical and horizontal) was associated with significantly increased odds ratios of both self-labelled (vertical: OR = 3.25; CI = 2.34-4.51; horizontal: OR = 3.17; CI = 2.41-4.18) and observed workplace bullying (vertical: OR = 2.09; CI = 1.70-2.56; horizontal: OR = 1.60; CI = 1.35-1.89), when compared with high organizational social capital. This study supports that characteristics of the psychosocial work environment are of importance in the development of workplace bullying, and provides focus on the importance of self-reported organizational social capital.
Financial capital and intellectual capital in physician practice management.
Robinson, J C
1998-01-01
Medical groups need financial resources yet most retain no earnings and have no reserves. Physician practice management (PPM) companies have recognized the need for investment and the scarcity of indigenous capital in the physician sector and are rushing to fill the void. Resources are being contributed by venture capitalists, bond underwriters, private investors, pharmaceutical manufacturers, health plans, hospital systems, and public equity markets. The potential contribution of PPM firms is to nurture the intellectual capital of leading physician organizations and diffuse it throughout the health care system. The risk is that short-term financial imperatives will impede necessary long-term investments.
Human capital in low-tech manufacturing
DEFF Research Database (Denmark)
Hansen, Teis; Winther, Lars; Hansen, Ronnie Fibæk
2014-01-01
An essential feature associated with the rise of the knowledge economy has been the increasing focus on the importance of human capital as a precondition for economic growth. Human capital has been found to have a positive impact on the economic growth of high-tech industries, however, the influe......An essential feature associated with the rise of the knowledge economy has been the increasing focus on the importance of human capital as a precondition for economic growth. Human capital has been found to have a positive impact on the economic growth of high-tech industries, however......, the influence of human capital on the development of low-tech industries is yet to be analysed. This paper provides such an examination of low-tech industries based on an analysis of employment data within manufacturing industries in Denmark in the period 1993–2006. The findings highlight, first, that human...... capital appears to be equally important for economic development in low-tech industries and, second, that the divide between the large urban regions, especially Copenhagen, and the rest of the country plays the primary role in explaining the geography of human capital. These findings stress the relevance...
Riumallo-Herl, Carlos Javier; Kawachi, Ichiro; Avendano, Mauricio
2014-01-01
In high-income countries, higher social capital is associated with better health. However, there is little evidence of this association in low- and middle-income countries. We examine the association between social capital (social support and trust) and both self-rated and biologically assessed health outcomes in Chile, a middle-income country that experienced a major political transformation and welfare state expansion in the last two decades. Based on data from the Chilean National Health Survey (2009–10), we modeled self-rated health, depression, measured diabetes and hypertension as a function of social capital indicators, controlling for socio-economic status and health behavior. We used an instrumental variable approach to examine whether social capital was causally associated with health. We find that correlations between social capital and health observed in high-income countries are also observed in Chile. All social capital indicators are significantly associated with depression at all ages, and at least one social capital indicator is associated with self-rated health, hypertension and diabetes at ages 45 and above. Instrumental variable models suggest that associations for depression may reflect a causal effect from social capital indicators on mental well-being. Using aggregate social capital as instrument, we also find evidence that social capital may be causally associated with hypertension and diabetes, early markers of cardiovascular risk. Our findings highlight the potential role of social capital in the prevention of depression and early cardiovascular disease in middle-income countries. PMID:24495808