WorldWideScience

Sample records for reserve campos cash

  1. 上市公司现金储备量的实证研究%An Empirical Study on Public Company Cash Reserves

    Institute of Scientific and Technical Information of China (English)

    熊风; 龚群子

    2014-01-01

    通过利用2003~2013年中国上市公司的面板数据,研究影响上市公司现金储备量的因素,并对比金融危机前后公司的现金储备行为。研究发现,公司现金流量、资产负债率和净资产收益率的增加会引起公司现金储备量的增加,并且公司规模越小,现金储备比例越大,托宾q与公司现金储备无明显关系,金融危机使上市公司现金储备偏好进一步增强。%The study presenting public companies between 2003 and 2013, examines the factors and their respective impacts on cash reserves held by public company in China, as well as the cash reserves changes in global financial crisis. The empirical result shows that the increase of cash reserves can be caused by the rise of cash flow, asset-liability ratio or ROE. Moreover, the smaller the company’s size, the more the cash reserves added. There is an ambiguous relation between Tobin q and cash reserves. Increasing cash reserves happened after financial crisis.

  2. Cash Flow Planning.

    Science.gov (United States)

    Littman, George W., III

    1979-01-01

    Proper cash flow planning allows a school business administrator to determine the availability of cash for operating expenses, the need for bank loans to cover these expenses, and the availability of idle cash for investment. (Author)

  3. Cash sub-additive risk measures and interest rate ambiguity

    OpenAIRE

    El Karoui, Nicole; Ravanelli, Claudia

    2009-01-01

    A new class of risk measures called cash sub-additive risk measures is introduced to assess the risk of future financial, non financial and insurance positions. The debated cash additive axiom is relaxed into the cash sub-additive axiom to preserve the original difference between the numeraire of the current reserve amounts and future positions. Consequently, cash sub-additive risk measures can model stochastic and/or ambiguous interest rates or defaultable contingent claims. Practical exampl...

  4. Cash Sub-additive Risk Measures and Interest Rate Ambiguity

    OpenAIRE

    El Karoui, Nicole; Ravanelli, Claudia

    2007-01-01

    A new class of risk measures called cash sub-additive risk measures is introduced to assess the risk of future financial, non financial and insurance positions. The debated cash additive axiom is relaxed into the cash sub-additive axiom to preserve the original difference between the numeraire of the current reserve amounts and future positions. Consequently, cash sub-additive risk measures can model stochastic and/or ambiguous interest rates or defaultable contingent claims. Practical exampl...

  5. Cash Reconciliation Tool

    Data.gov (United States)

    US Agency for International Development — CART is a cash reconciliation tool that allows users to reconcile Agency cash disbursements with Treasury fund balances; track open unreconciled items; and create an...

  6. Cash flow statement

    National Research Council Canada - National Science Library

    Pavlović Miloš; Bogdanović Jovan

    2013-01-01

    .... The cash flow statement is statutory financial report that provides information to the interested parties on cash inflows and outflows from operating, investing and financing activities during the accounting period...

  7. Cash flow statement

    Directory of Open Access Journals (Sweden)

    Pavlović Miloš

    2013-01-01

    Full Text Available A cash flow is "bloodstream" of business and without constant cash flow a company would not be able to function. The cash flow statement is statutory financial report that provides information to the interested parties on cash inflows and outflows from operating, investing and financing activities during the accounting period. This paper will discuss the origin and significance of the cash slow statement; in addition, we will define the main categories of this statement and present the methodology of its composition in accordance with IAS 7.

  8. 25 CFR 141.19 - Check cashing.

    Science.gov (United States)

    2010-04-01

    ... INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR FINANCIAL ACTIVITIES BUSINESS PRACTICES ON THE NAVAJO, HOPI AND ZUNI RESERVATIONS General Business Practices § 141.19 Check cashing. (a) A reservation business... order. A reservation business may not give scrip, credit or other substitute for U.S. currency...

  9. Improving your CASH flow

    DEFF Research Database (Denmark)

    Brown, Chris; Loidl, Hans-Wolfgang; Berthold, Jost;

    2010-01-01

    This paper describes CASH (the Computer Algebra SHell), a new interface that allows Haskell programmers to access the complete functionality of a number of computer algebra systems directly and interactively. Using CASH, Haskell programmers can access previously-unavailable mathematical software....... Additionally, users of computer algebra systems can exploit the rapidly growing Haskell code base and its rich set of libraries. In particular, CASH provides a simple and effective interface for users of computer algebra systems to parallelise their algorithms using domain-specific skeletons written in Haskell....

  10. Conditional E-Cash

    Science.gov (United States)

    Shi, Larry; Carbunar, Bogdan; Sion, Radu

    We introduce a novel conditional e-cash protocol allowing future anonymous cashing of bank-issued e-money only upon the satisfaction of an agreed-upon public condition. Payers are able to remunerate payees for services that depend on future, yet to be determined outcomes of events. Once payment complete, any double-spending attempt by the payer will reveal its identity; no double-spending by the payee is possible. Payers can not be linked to payees or to ongoing or past transactions. The flow of cash within the system is thus both correct and anonymous. We discuss several applications of conditional e-cash including online trading of financial securities, prediction markets, and betting systems.

  11. Reserves and cash flows under stochastic retirement

    DEFF Research Database (Denmark)

    Gad, Kamille Sofie Tågholt; Nielsen, Jeppe Woetmann

    2016-01-01

    Uncertain time of retirement and uncertain structure of retirement benefits are risk factors for life insurance companies. Nevertheless, classical life insurance models assume these are deterministic. In this paper, we include the risk from stochastic time of retirement and stochastic benefit...... structure in a classical finite-state Markov model for a life insurance contract. We include discontinuities in the distribution of the retirement time. First, we derive formulas for appropriate scaling of the benefits according to the time of retirement and discuss the link between the scaling...

  12. Taxable Cash Dividends

    DEFF Research Database (Denmark)

    Bechmann, Ken L.; Raaballe, Johannes

    by the issuance of new shares. Taxable cash dividends financed by the issuance of new shares then can be considered a positive kind of money burning whose role is to signal a firm's high quality. The implications of the models are consistent with several important empirical facts about dividends and share......Firms pay out cash using both dividends and share repurchases. In many aspects these twomeans are similar, but one important difference is that dividends are generally taxed more heavily than share repurchases. Nevertheless firms persist in paying out large amounts in dividends. This paper provides...... repurchases only. However, in certain cases share repurchases become costlier on the margin for a high-quality firm than for a low-quality imitator. In such cases, the high-quality firm signals most cost efficiently by means of a combination of share repurchases and taxable cash dividends financed...

  13. Taxable Cash Dividends

    DEFF Research Database (Denmark)

    Bechmann, Ken L.; Raaballe, Johannes

    Firms pay out cash using both dividends and share repurchases. In many aspects these twomeans are similar, but one important difference is that dividends are generally taxed more heavily than share repurchases. Nevertheless firms persist in paying out large amounts in dividends. This paper provides...... repurchases. Thus, this paper's main contribution is to examine a range of new signaling models that provides a role for taxable cash dividends and share repurchases and to derive their empirical implications.Key words: Dividends, Share Repurchases, Signaling, Single-Crossing Property, Money Burning...

  14. Risk assessment future cash flows

    OpenAIRE

    Chachina H. G.

    2012-01-01

    This article is about risk assessment in planning future cash flows. Discount rate in DCF-model must include four factors: risk cash flow, inflation, value of investments, turnover assets. This has an influence net present value cash flow and make his incomparable.

  15. Risk assessment future cash flows

    OpenAIRE

    Chachina H. G.

    2012-01-01

    This article is about risk assessment in planning future cash flows. Discount rate in DCF-model must include four factors: risk cash flow, inflation, value of investments, turnover assets. This has an influence net present value cash flow and make his incomparable.

  16. Crafty Concept Cashes In

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    Hundreds of young Beijing artisans display and sell their arts and crafts through an innovative outlet It’s a strange sight being in a store without sales counters,cash registers and legions of over-zealous sales staff.Instead,the Fengguo Box,covering an area of 200 square meters in Zhongguancun Plaza in north

  17. Piranema Field: developing economically small reserves in deep waters; Campo de Piracema: o desafio de desenvolver economicamente pequenas reservas em aguas profundas

    Energy Technology Data Exchange (ETDEWEB)

    Brandao, Renilton M. [PETROBRAS S.A., Rio de Janeiro, RJ (Brazil)

    2008-07-01

    Piranema Field is located southeast of the city of Aracaju, in deep waters, sub-basin of Sergipe, about 25 km from the coast, with water depth varying from 200 and 2,000 meters. The biggest challenges for the production of this field, with high quality oil (41 to 44 API), were small reserves, the presence of large submarine canyons separating various geological structures and difficulty installation of pipelines and wax formation in production lines, which could cause its blocking. After several studies, we decided to exploit in two phases, using an FPSO (Floating Production Storage and Offloading), cylindrical, completely innovative, whose cost of construction could make the project economically attractive and gas produced entirely re-injected, which would increase considerably recovery factor. The development will be in two phases, with the first one lasting about 7 years and the second 4 years. It is expected a recovery factor of around 40% over the eleven years of production, with a peak production of around 30,000 bbl/d. The total project cost will be $ 1.1 bi, including investments, operating costs and taxes. (author)

  18. Assets Expropriation via Cash Dividends? Free Cash Flow or Tunneling

    Directory of Open Access Journals (Sweden)

    Jeng-Ren Chiou

    2010-06-01

    Full Text Available This study solves the dispute between the free cash flow and tunneling hypotheses in explaining the role of cash dividends on asset expropriation of the controlling shareholders in Chinese listed firms. Investors value more the cash dividends and the cash holdings of firms with lower ownership control than those of firms with higher ownership control. This is more consistent with the tunneling hypothesis. However, when investment opportunities are considered, the free cash flow hypothesis better explains firms' dividend policy. Investors value more the cash dividends of firms with fewer investment opportunities and higher probability of expropriation. This study indicates that investors are concerned with the potential asset expropriation through cash payouts, unless firms possess high growth opportunities.

  19. Cash on Demand: A Framework for Managing a Cash Liquidity Position.

    Science.gov (United States)

    Augustine, John H.

    1995-01-01

    A well-run college or university will seek to accumulate and maintain an appropriate cash reserve or liquidity position. A rigorous analytic process for estimating the size and cost of a liquidity position, based on judgments about the institution's operating risks and opportunities, is outlined. (MSE)

  20. Cash on Demand: A Framework for Managing a Cash Liquidity Position.

    Science.gov (United States)

    Augustine, John H.

    1995-01-01

    A well-run college or university will seek to accumulate and maintain an appropriate cash reserve or liquidity position. A rigorous analytic process for estimating the size and cost of a liquidity position, based on judgments about the institution's operating risks and opportunities, is outlined. (MSE)

  1. Cash flow management.

    Science.gov (United States)

    Kamenetzky, S A

    1993-06-01

    In the face of decreasing reimbursement and increasing expenses, careful cash flow management has assumed an increasingly important role in developing and maintaining a successful ophthalmology practice. Funds must be collected as promptly and efficiently as possible, and retained and invested until needed by the practice to pay expenses. Office collection techniques and suggestions for dealing with third-party payers are presented. Managed care contracting and the inherent risks involved are discussed. Advice on accounts payable management is provided, and suggestions for investment of idle funds are outlined. This information should allow the formulation of a practical plan to maximize profitability in each ophthalmology practice.

  2. Accounting for the Corporate Cash Increase

    OpenAIRE

    Jake Zhao

    2014-01-01

    Why do U.S. firms hold much more cash now than they did 30 years ago? Prior empirical studies have discovered a statistically significant positive relationship between firm cash holdings and cash flow volatility. Such findings, however, are subject to endogeneity problems. In this paper, I construct a structural model of firm dynamics where cash provides a buffer against cash-flow shortfalls in the presence of costly external finance. My model finds that 63% of the increase in corporate cash ...

  3. Valuation when Cash Flow Forecasts are Biased

    OpenAIRE

    Ruback, Richard S., 1954-

    2010-01-01

    This paper focuses adaptations to the discount cash flow (DCF) method when valuing forecasted cash flows that are biased measures of expected cash flows. I imagine a simple setting where the expected cash flows equal the forecasted cash flows plus an omitted downside. When the omitted downside is temporary, the adjustment is to deflate the forecasts and to set the discount rate equal to the cost of capital. However, when the downside is permanent, the adjustment is to deflate the cash flows a...

  4. Valuation when Cash Flow Forecasts are Biased

    OpenAIRE

    Richard S. Ruback

    2010-01-01

    This paper focuses adaptations to the discount cash flow (DCF) method when valuing forecasted cash flows that are biased measures of expected cash flows. I imagine a simple setting where the expected cash flows equal the forecasted cash flows plus an omitted downside. When the omitted downside is temporary, the adjustment is to deflate the forecasts and to set the discount rate equal to the cost of capital. However, when the downside is permanent, the adjustment is to deflate the cash flows a...

  5. Techniques for evaluating cash flow.

    Science.gov (United States)

    Sylvestre, J; Urbancic, F

    1994-01-01

    Jean Sylvestre, Ph.D., and Frank Urbancic, D.B.A., CPA, of the University of South Alabama, write that because of the financial challenges for health care, cash flow problems can arise. They offer techniques for interpreting and evaluating cash flow information as a means to more effective decision making.

  6. Empirical Studies on Cash Payments

    NARCIS (Netherlands)

    J. Kippers (Jeanine)

    2004-01-01

    textabstractCash is still the most common means of daily payments. The large number of cash payments is supported by a costly distribution system in which retailers, banks and central banks participate. Currency is issued in a range of bank note and coin denominations to facilitate efficiency in cas

  7. E-Cash Payment Protocols

    Directory of Open Access Journals (Sweden)

    Shweta Srivastava

    2012-09-01

    Full Text Available E-cash is a payment system designed and implemented for making purchases over open networks such as the Internet. Need of a payment system which enables the electronic transactions are growing at the same time that the use of Internet is growing in our daily life. Present days electronic payment systems have a major problem, they cannot handle the security and the users anonymity and at the same time these systems are secure on the cost of their users anonymity. This paper shows the payment protocols for digital cash and discusses how a digital cash system can be formed by presenting a few of the present days digital cash systems in details. We also provide a comparison and determine them together to see which one of them fulfils the properties for digital cash and the required security level.

  8. Cash efficiency for bank branches.

    Science.gov (United States)

    Cabello, Julia García

    2013-01-01

    Bank liquidity management has become a major issue during the financial crisis as liquidity shortages have intensified and have put pressure on banks to diversity and improve their liquidity sources. While a significant strand of the literature concentrates on wholesale liquidity generation and on the alternative to deposit funding, the management of an inventory of cash holdings within the banks' branches is also a relevant issue as any significant improvement in cash management at the bank distribution channels may have a positive effect in reducing liquidity tensions. In this paper, we propose a simple programme of cash efficiency for the banks' branches, very easy to implement, which conform to a set of instructions to be imposed from the bank to their branches. This model proves to significantly reduce cash holdings at branches thereby providing efficiency improvements in liquidity management. The methodology we propose is based on the definition of some stochastic processes combined with renewal processes, which capture the random elements of the cash flow, before applying suitable optimization programmes to all the costs involved in cash movements. The classical issue of the Transaction Demand for the Cash and some aspects of Inventory Theory are also present. Mathematics Subject Classification (2000) C02, C60, E50.

  9. Convergences and Divergences between Cash Flows and Cash Flows Company

    OpenAIRE

    Spineanu-Georgescu Luciana

    2013-01-01

    Within three decades has admitted that due to shortcomings in the profit and loss account is widely used cash flow statement, cash and payments respectively, to reflect the funds generated from current operations of an enterprise, as and major investments and financial transactions that occur during the year. The primary objective of the analysis is to reflect the performance of the combined effect of decisions, operational, investment and financing, and interpretation in parallel balance she...

  10. Hedging Cash Flows from Commodity Processing

    OpenAIRE

    Dahlgran, Roger A.

    2005-01-01

    Agribusinesses make long-term plant-investment decisions based on discounted cash flow. It is therefore incongruous for an agribusiness firm to use cash flow as a plant-investment criterion and then to completely discard cash flow in favor of batch profits as an operating objective. This paper assumes that cash flow and its stability is important to commodity processors and examines methods for hedging cash flows under continuous processing. Its objectives are (a) to determine how standard he...

  11. An Investigation into Cash Flow Forecasts Practices

    OpenAIRE

    Kum, Chi Leng

    2010-01-01

    Cash flow forecasts are the most important step in the capital budgeting process in terms of planning effectively to finance for cash deficit and invest cash surplus for capital expenditure decisions. Despite its importance, little progress has been made in its estimation process, due to the difficulty of producing accurate cash flow numbers for the analysis of capital budgeting decisions. This management project details the investigation of the cash flow forecasts practices and highlights so...

  12. THE CASH CONVERSION CYCLE IN ROMANIAN COMPANIES

    Directory of Open Access Journals (Sweden)

    ANDONE DIANA

    2016-02-01

    Full Text Available In this paper, we conducted a research on the equilibrium of cash operating cycle phases, between two moments: cash inflow and cash outflow. The research methodology is based on system financial ratios of 20 companies listed on Bucharest Stock Exchange in the energy industry. In this research paper it’s demonstrate how the cash conversion cash ratios system conducts to the short term company’s equilibrium.

  13. The evolution of Treasury cash management during the financial crisis

    OpenAIRE

    Paul J. Santoro

    2012-01-01

    The U.S. Treasury and the Federal Reserve System have long enjoyed a close relationship, each helping the other to carry out certain statutory responsibilities. This relationship proved beneficial during the 2008-09 financial crisis, when the Treasury altered its cash management practices to facilitate the Fed’s dramatic expansion of credit to banks, primary dealers, and foreign central banks.

  14. Limiting the Use of Cash for Big Purchases: Assessing the Case for Uniform Cash Thresholds

    OpenAIRE

    Sands, Peter; Weisman, Benjamin; Campbell, Haylea; Keatinge, Tom

    2017-01-01

    For all the hype about electronic payment systems, cash remains by far the world’s most popular mechanism. However, over the past year we have seen an intensification of the discussion about the role of cash in society. Cash has great advantages: it is familiar, simple to use and ubiquitously accepted. However, cash also has downsides. Because cash transactions leave no record, cash plays a critical role in money laundering, tax evasion and terrorist financing. This debate generates strong fe...

  15. Il campo magnetico terrestre

    OpenAIRE

    Meloni, A.; Winkler, A

    2004-01-01

    La Terra si comporta come se fosse una grande calamita, in grado di influenzare l'ago magnetico delle bussole la quale si orienta approssimativamente verso Nord. La forza che agisce sull’ago, costringendolo ad assumere questa posizione, è generata dal campo magnetico terrestre.

  16. An evaluation of the usefulness of cash flow ratios to predict financial distress

    Directory of Open Access Journals (Sweden)

    L. Jooste

    2007-12-01

    Full Text Available Purpose: With the introduction of the cash flow statement it became an integral part of financial reporting. A need arose to develop ratios for the effective evaluation of cash flow information. This article investigates cash flow ratios suggested by various researchers and suggests a list of ratios with the potential to predict financial failure. Design: The cash flow ratios suggested by researchers, from as early as 1966, are investigated and eight cash flow ratios selected for inclusion in an analysis to predict financial failure. Ten failed entities are selected for a cash flow evaluation by means of the selected ratios for five years prior to failure. For a comparison, non-failed entities in similar sectors are selected and also evaluated by means of the cash flow ratios. The mean values of each ratio, for each year prior to failure, were then calculated and the means of the failed entities were compared to the non-failed entities. Findings: The comparison revealed that cash flow ratios have predictive value with the cash flow to total debt identified as the best indicator of failure. It was also determined that, although failed entities have lower cash flows than non-failed entities, they also had smaller reserves of liquid assets. Furthermore, they have less capacity to meet debt obligations and they tend to incur more debt. The ratios of the failed entities were unstable and fluctuated from one year to the next. Finally, bankruptcy could be predicted three years prior to financial failure. Implications: Income statement and balance sheet ratios are not enough to measure liquidity. An entity can have positive liquidity ratios and increasing profits, yet have serious cash flow problems. Ratios developed from the cash flow statement should supplement traditional accrual-based ratios to provide additional information on the financial strengths and weaknesses of an entity .

  17. IL CAMPO GEOMAGNETICO

    Directory of Open Access Journals (Sweden)

    F. MOLINA

    1972-06-01

    Full Text Available Questo lavoro non è un trattato sul campo geomagnetico e nemmeno
    una rassegna sull'argomento, almeno nel significato che normalmente
    si attribuisce al termine « rassegna »; esso è semplicemente
    un tentativo di condensare in termini comprensibili agli studiosi non
    specializzati ciò che oggi si sa o si ipotizza sul magnetismo terrestre
    e sulle sue cause. Chi scrive si è sempre trovato a disagio di fronte
    alle richieste di una spiegazione sull'origine del campo magnetico
    terrestre: o si cerca di cavarsela con poche parole (« si tratta di correnti
    elettriche indotte nell'interno della Terra » che possono forse accontentare
    chi non si occupa in modo particolare di problemi scientifici
    ma non possono soddisfare un fisico, oppure ci si sente obbligati a
    tentare faticosamente di approfondire, sia per capirli personalmente
    che per poterli poi spiegare agli altri, argomenti e ragionamenti che
    sono in realtà accessibili solo a un fisico teorico ben preparato. Apparentemente
    non esiste una via di mezzo, come del resto in molti altri
    campi della fisica contemporanea.
    La presente monografia rappresenta appunto il tentativo di trovare
    questa via di mezzo: nel terzo capitolo, dedicato alle teorie sull'origine
    del campo geomagnetico, si cerca di descrivere qualitativamente
    i principali processi fisici proposti come sorgenti del campo,
    dopo un accenno ai fondamenti fisici e matematici sui quali sono state
    elaborate le varie teorie. Senza farmi soverchie illusioni di essere riuscito
    nell'intento, mi dichiarerei tuttavia soddisfatto se questo lavoro
    destasse sull'argomento l'interesse di qualche giovane ricercatore, incoraggiandolo
    ad un approfondimento.

  18. A LITERATURE REVIEW OF COMPANIES CASH HOLDINGS

    Directory of Open Access Journals (Sweden)

    Iuliana Oana Mihai

    2015-05-01

    Full Text Available The purpose of this article is to investigate the scientific literature related to cash holdings of non-financial companies. We concentrated in our work on motives, determinants and theories of cash holding. The result of this study will enhance understanding of cash holding determinants and relevance of postulated theories in Romanian context. The main objective is to.

  19. Entrepreneurial Vision, Information, and Cash

    NARCIS (Netherlands)

    A. Boot; V. Vladimirov

    2014-01-01

    We analyze when entrepreneurial firms hoard more cash and when instead they raise more external financing to co-finance new investments. Our simple dynamic model focuses on differences in vision between the firm's manager and financiers: they may disagree about the attractiveness of new investment o

  20. Pawn Shop,Cash Cow

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    An expat in Beijing once wrote these words on his blog,"If you are anxious to exchange your valuables for cash,or want to collect some treasures in Beijing,you may visit Bao Rui Tong Pawn Shop which features agreeable environment,reliable credit,guaranteed quality and profes- sional service."That releases the com-

  1. Presentation of Consolidated Statement of Cash Flows under IAS 7, Statement of Cash Flows

    OpenAIRE

    Tănase Alin-Eliodor; Calota Traian-Ovidiu

    2013-01-01

    The consolidated financial statements must includ a specific statement, regarding cash flows from all activities of the entity, called „consolidated statement of cash flow”. Information for preparing cash flow statements can be found in all other components of the financial statements, such as financial position, statement of comprehensive income and statement of changes in equity. The cash flow statement shall report cash flows during the period classified by operating, investing and financi...

  2. Fair Electronic Cash Based on Double Signatures

    Institute of Scientific and Technical Information of China (English)

    陈晓峰; 王常杰; 王育民

    2002-01-01

    In order to decrease crimes such as money laundering, blackmailing etc. inelectronic cash systems, fair electronic cash has been a major focus of academic research inelectronic commence. When a bank finds some dubious cash or owner, the trusted entity ortrustee can help him to revoke the anonymity of the cash. In the previous protocols, the trusteeknows all the information of the cash whether he is trusted or not, that is, he can trace the useror cash unconditionally. Furthermore, the dishonest trustee may deceive a user, which meansthat he may withdraw cash while tracing other users. Such cases are unfair to the honest users.A new fair electronic cash protocol based on untrustworthy trustees is proposed in thispaper. The key idea is that the coin structure should include the signatures of both the trusteeand the bank so that the trustee shares the information of the cash with the bank, while we donot use the secret sharing scheme. In contrast with the previous protocols, neither the trusteenor the bank can trace the money without the help of the other entity. In this way, the privacyof the user is protected furthest. Also, the trustee is off-line in the protocol, which meansthat he will not be involved in withdrawing the cash. Therefore, the protocol is efficient forimplementation.

  3. Inflation, operating cycle, and cash holdings

    Institute of Scientific and Technical Information of China (English)

    Yanchao; Wang; Yu; Ji; Xu; Chen; Chunlei; Song

    2014-01-01

    A corporate cash-holding strategy is a trade-off between the costs and benefits of holding cash.At the macrolevel,firms are inclined to adjust and optimize their cash-holding strategies in response to changes in purchasing power due to inflation.At the microlevel,the operating cycle,which indicates the speed and turnover of corporate cash flow,also influences the corporate cash-holding strategy.Firms flexibly adjust their cash-holding strategies in response to changes in the internal and external environment,which is referred to as the cash adjustment strategy.We examine these predicted relationships using a sample of listed firms in China’s stock market over the 1998–2009 period.Consistent with our predictions,the empirical results indicate a significant negative association between cash holdings and the CPI,but the relationship is reversed when the CPI reaches a certain level.There is also a U-shaped relationship between operating cycle and cash holdings,and this relationship is similarly influenced by changes in the inflation level.In examining the macroeconomic environment and microlevel firm-specific characteristics simultaneously,our findings supplement the literature on firms’cash-holding strategies and provide theoretical and practical implications.

  4. Analysis of cash holding for measuring the efficiency of cash management: A study on IT sector

    Directory of Open Access Journals (Sweden)

    Somnath Das

    2015-01-01

    Full Text Available For measuring the efficiency of management of cash, cash holding is one of the most important financial decisions that the manager of the concerned organization, has to make in the organization. Basically, it is observed that the organization hold cash for future purposes is very negligible. If the organization invested cash in profitable securities then there is some flexibility but when it relates to the capital market holding cash is not advantageous. Generally two contradictory theories such as Trade-off theory and the Pecking order theory are considered for measuring the efficiency of cash management. In this study we generally observed measured the efficiency of Cash Management influenced by Cash Holding. We also measured whether cash holding of the organization is affected with the degree of financial leverage, size of the organization, investment and profitability. This study helps us to understand the influence of DFL, Investment and Size of the organization on Cash holding. Proper holding of cash in cash management can prevent the bankruptcy of any organization and also increases the efficiency of Cash or Liquidity management.

  5. Campo magnetico regionale e campo magnetico normale nel Mediterraneo centrale

    Directory of Open Access Journals (Sweden)

    E. PINNA

    1982-06-01

    Full Text Available Dai risultati del rilevamento magnetico del Mediterraneo in un'area di 3.10"
    km2 si deduce un campo medio per l'intensità totale F in forma di polinomio di 2°
    grado, funzione della latitudine e della longitudine, e si mostra che esso rappresenta
    con buona approssimazione gli effetti del campo principale in in questa regione.
    L'analisi spettrale delle anomalie magnetiche calcolate assumendo tale campo
    come riferimento indica la presenza di effetti a vari intervalli di lunghezza d'onda:
    inferiore a 35 km, fra 50 e 130 km, superiore a 170 km. Si dà un esempio di
    anomalie nel campo delle maggiori lunghezze d'onda, situate nell'Adriatico centrale
    e nello Ionio occidentale; alle anomalie di tali dimensioni caratteristiche, che
    sono evidentemente originate dai più profondi livelli magnetizzati della crosta, si
    propone di dare il nome di campo regionale, limitando il termine di campo
    normale al solo campo principale.

  6. Finance theory and hospital cash balances.

    Science.gov (United States)

    Rivenson, Howard L; Smith, Dean G

    2013-01-01

    Competing financial theories have been offered to understand hospitals' cash holding with scant recent evidence. Using data from a national sample of 608 not-for-profit hospitals, we find support for the trade-off theory which posits targeted cash balances. We do not find support for the financial hierarchy theory which posits a preference for use of cash to pay for capital investments. Findings apply to holdings of cash and marketable securities, but not board-designated funds where no model provided meaningful explanatory power.

  7. Date attachable offline electronic cash scheme.

    Science.gov (United States)

    Fan, Chun-I; Sun, Wei-Zhe; Hau, Hoi-Tung

    2014-01-01

    Electronic cash (e-cash) is definitely one of the most popular research topics in the e-commerce field. It is very important that e-cash be able to hold the anonymity and accuracy in order to preserve the privacy and rights of customers. There are two types of e-cash in general, which are online e-cash and offline e-cash. Both systems have their own pros and cons and they can be used to construct various applications. In this paper, we pioneer to propose a provably secure and efficient offline e-cash scheme with date attachability based on the blind signature technique, where expiration date and deposit date can be embedded in an e-cash simultaneously. With the help of expiration date, the bank can manage the huge database much more easily against unlimited growth, and the deposit date cannot be forged so that users are able to calculate the amount of interests they can receive in the future correctly. Furthermore, we offer security analysis and formal proofs for all essential properties of offline e-cash, which are anonymity control, unforgeability, conditional-traceability, and no-swindling.

  8. Cash Transfers, Basic Income and Community Building

    Directory of Open Access Journals (Sweden)

    Evelyn L. Forget

    2013-09-01

    Full Text Available The austerity movement in high-income countries of Europe and North America has renewed calls for a guaranteed Basic Income. At the same time, conditional and unconditional cash transfers accompanied by rigorous impact evaluations have been conducted in low- and middle-income countries with the explicit support of the World Bank. Both Basic Income and cash transfer programs are more confidently designed when based on empirical evidence and social theory that explain how and why cash transfers to citizens are effective ways of encouraging investment in human capital through health and education spending. Are conditional cash transfers more effective and/or more efficient than unconditional transfers? Are means-tested transfers effective? This essay draws explicit parallels between Basic Income and unconditional cash transfers, and demonstrates that cash transfers to citizens work in remarkably similar ways in low-, middle- and high-income countries. It addresses the theoretical foundation of cash transfers. Of the four theories discussed, three explicitly acknowledge the interdependence of society and are based, in increasingly complex ways, on ideas of social inclusion. Only if we have an understanding of how cash transfers affect decision-making can we address questions of how best to design cash transfer schemes.

  9. Factors of cash flow in farms

    Directory of Open Access Journals (Sweden)

    Miroslaw Wasilewski

    2016-02-01

    Full Text Available The study presents the determinants of the balance of cash flow from operating activities in the farms participating in the PL FADN. The effects of multiple independent variables on the balance of cash flow from operating activities were measured using the robust linear regression model. Statistically significant impact on the balance of cash flow from operating activities was from the family farm income. The agricultural type and the year of measurement had a significant impact on the development of the balance of cash flow from operating activities.

  10. Unanswered Quibbles with Fractional Reserve Free Banking

    OpenAIRE

    Philipp Bagus; David Howden

    2011-01-01

    In this article we reply to George Selgin’s counterarguments to our article “Fractional Reserve Free Banking: Some Quibbles”. Selgin regards holding cash as saving while we focus on the real savings necessary to maintain investment projects. Real savings are unconsumed real income. Variations in real savings are not necessarily equal to variations in cash holdings. We show that a coordinated credit expansion in a fractional reserve free banking (FRFB) system is possible and that precautionary...

  11. Unanswered Quibbles with Fractional Reserve Free Banking

    OpenAIRE

    Philipp Bagus; David Howden

    2011-01-01

    In this article we reply to George Selgin’s counterarguments to our article “Fractional Reserve Free Banking: Some Quibbles”. Selgin regards holding cash as saving while we focus on the real savings necessary to maintain investment projects. Real savings are unconsumed real income. Variations in real savings are not necessarily equal to variations in cash holdings. We show that a coordinated credit expansion in a fractional reserve free banking (FRFB) system is possible and that precautionary...

  12. Analýza likvidity a cash flow podniku

    OpenAIRE

    HAVRAN, Tomáš

    2013-01-01

    The aim of the thesis entitled "Analysis of liquidity and cash flow" is to analyze liquidity and cash flow of the company. The theories then apply in terms of the selected company. The first part of the thesis contains theoretical knowledge about cash flow, liquidity and bankruptcy and credibility models. It describes what is cash flow and its division. Furthermore, the preparation methods of the statement of cash flows and what is the difference between cash flow and profit. The following is...

  13. Lessons about Cash and Manager Priorities

    Science.gov (United States)

    Mong, Donald

    2013-01-01

    Experienced managers know that cash affects virtually every aspect of a company's strategy and operations. Business students and new managers, however, sometimes lose sight of the importance of cash amidst the details of accrual-based accounting courses, formula-based finance courses, and production-based management courses. We therefore use…

  14. School District Cash Management. Program Audit.

    Science.gov (United States)

    New York State Legislative Commission on Expenditure Review, Albany.

    New York State law permits school districts to invest cash not immediately needed for district operation and also specifies the kinds of investments that may be made in order to ensure the safety and liquidity of public funds. This audit examines cash management and investment practices in New York state's financially independent school districts.…

  15. School District Cash Management. Program Audit.

    Science.gov (United States)

    New York State Legislative Commission on Expenditure Review, Albany.

    New York State law permits school districts to invest cash not immediately needed for district operation and also specifies the kinds of investments that may be made in order to ensure the safety and liquidity of public funds. This audit examines cash management and investment practices in New York state's financially independent school districts.…

  16. Get the Most from Your Cash Flow.

    Science.gov (United States)

    Bauer, Richard I.

    1995-01-01

    Provides guidelines for overseeing a school district's cash-flow management program: (1) receipts into cash; (2) types of float; (3) concentration account or controlled-disbursement account; (4) bank-account analysis; and (5) safety. One figure is included. (LMI)

  17. Unstop the Logjams in Your Cash Flow.

    Science.gov (United States)

    Everett, R. E.

    1989-01-01

    A cash flow analysis is charting expenditures and revenues against a factor of time. Explains how school systems can, by charting the congruency of revenues and expenditures carefully, develop an investment program to take maximum advantage of a positive cash position. (MLF)

  18. The Direct Method of Cash Flows.

    Science.gov (United States)

    Bosserman, David C.; Fischer, Mary

    2000-01-01

    Explains to college/university business officers how to comply with Governmental Accounting Standards Board Statements Nos. 34, 35, and 9, which require the direct method of presenting cash flows from operating activities and reconciliation of operating cash flows to operating income by fiscal year 2001. Institutions are urged to begin immediately…

  19. A Good President Rates a Cash Bonus.

    Science.gov (United States)

    Dane, Roger; Koenig, Allen E.

    1981-01-01

    Emerson College's board rewarded its president for outstanding performance with a cash bonus of 36 percent of salary. The cash bonus idea is offered as one novel compensation plan for college presidents, but it is suggested that trustees can act as opinion leaders for implementing other creative compensation plans. (MLW)

  20. Secure Electronic Cash Scheme with Anonymity Revocation

    Directory of Open Access Journals (Sweden)

    Baoyuan Kang

    2016-01-01

    Full Text Available In a popular electronic cash scheme, there are three participants: the bank, the customer, and the merchant. First, a customer opens an account in a bank. Then, he withdraws an e-cash from his account and pays it to a merchant. After checking the electronic cash’s validity, the merchant accepts it and deposits it to the bank. There are a number of requirements for an electronic cash scheme, such as, anonymity, unforgeability, unreusability, divisibility, transferability, and portability. Anonymity property of electronic cash schemes can ensure the privacy of payers. However, this anonymity property is easily abused by criminals. In 2011, Chen et al. proposed a novel electronic cash system with trustee-based anonymity revocation from pairing. On demand, the trustee can disclose the identity for e-cash. But, in this paper we point out that Chen et al.’s scheme is subjected to some drawbacks. To contribute secure electronic cash schemes, we propose a new offline electronic cash scheme with anonymity revocation. We also provide the formally security proofs of the unlinkability and unforgeability. Furthermore, the proposed scheme ensures the property of avoiding merchant frauds.

  1. The Direct Method of Cash Flows.

    Science.gov (United States)

    Bosserman, David C.; Fischer, Mary

    2000-01-01

    Explains to college/university business officers how to comply with Governmental Accounting Standards Board Statements Nos. 34, 35, and 9, which require the direct method of presenting cash flows from operating activities and reconciliation of operating cash flows to operating income by fiscal year 2001. Institutions are urged to begin immediately…

  2. 23 CFR 140.612 - Cash management.

    Science.gov (United States)

    2010-04-01

    ... 23 Highways 1 2010-04-01 2010-04-01 false Cash management. 140.612 Section 140.612 Highways FEDERAL HIGHWAY ADMINISTRATION, DEPARTMENT OF TRANSPORTATION PAYMENT PROCEDURES REIMBURSEMENT Reimbursement for Bond Issue Projects § 140.612 Cash management. By July 1 of each year the SHA will...

  3. Effective methods for cash flow analysis.

    Science.gov (United States)

    Sylvestre, J; Urbancic, F R

    1994-07-01

    This article discusses techniques that healthcare financial managers can use to interpret and evaluate information from the statement of cash flows for more effective financial decision-making. The use of these techniques as a basis for systematically planning and controlling cash flows has the potential to benefit all healthcare organizations.

  4. Cash planning in community mental health agencies.

    Science.gov (United States)

    Williams, E

    1976-01-01

    Community mental health agencies often receive funds from a number of different sources with varying restrictions. Cash planning can help them manage these funds properly and avoid serious problems. The use of a projected cash flow statement may even help produce additional income for them.

  5. A Good President Rates a Cash Bonus.

    Science.gov (United States)

    Dane, Roger; Koenig, Allen E.

    1981-01-01

    Emerson College's board rewarded its president for outstanding performance with a cash bonus of 36 percent of salary. The cash bonus idea is offered as one novel compensation plan for college presidents, but it is suggested that trustees can act as opinion leaders for implementing other creative compensation plans. (MLW)

  6. Assets Expropriation via Cash Dividends?Free Cash Flow or Tunneling

    Institute of Scientific and Technical Information of China (English)

    Jeng-Ren Chiou; Yenn-Ru Chen; Ting-Chiao Huang

    2010-01-01

    This study solves the dispute between the free cash flow and tunneling hypotheses in explaining the role of cash dividends on asset expropriation of the controlling shareholders in Chinese listed firms. Investors value more the cash dividends and the cash holdings of firms with lower ownership control than those of firms with higher ownership control. This is more consistent with the tunneling hypothesis. However, when investment opportunities are considered, the free cash flow hypothesis better explains firms’ dividend policy. Investors value more the cash dividends of firms with fewer investment opportunities and higher probability of expropriation. This study indicates that investors are concerned with the potential asset expropriation through cash payouts, unless firms possess high growth opportunities.

  7. An Internet Based Anonymous Electronic Cash System

    Directory of Open Access Journals (Sweden)

    Israt Jahan

    2015-04-01

    Full Text Available There is an increase activity in research to improve the current electronic payment system which is parallel with the progress of internet. Electronic cash system is a cryptographic payment system which offers anonymity during withdrawal and purchase. Electronic cash displays serial numbers which can be recorded to allow further tracing. Contrary to their physical counterparts, e-cash have an inherent limitation; they are easy to copy and reuse (double-spending. An observer is a tamper-resistant device, issued by the Internet bank, which is incorporated with the Internet user’s computer that prevents double-spending physically, i.e., the user has no access to her e-cash and therefore he cannot copy them. In this paper, we shall present an anonymous electronic cash scheme on the internet which incorporates tamper-resistant device with user-module.

  8. Cash flow optimization in industrial enterprise

    Directory of Open Access Journals (Sweden)

    Myznikova T.N.

    2017-01-01

    Full Text Available Optimization of cash flows of the industrial company provides economic entity necessity and sufficiency of financial resources for sustainable activities. Cash optimization techniques are grouped into two blocks: theoretical - is mainly foreign methods and applied techniques that are mostly used by Russian authors. Models described in the literature are not allowed for the particular industry in the formation of cash. The mathematical models described in the literature do not allow to take into account industry characteristics in the formation of funds. The proposed methodology by authors allows to predict cash amounts based on business company. The balance of cash flows is provided by the budgeting system. The company’s the released money can send funds for investment purposes. Effectiveness of confirmed by practical testing methodology on the existing machine-building enterprise.

  9. Micro-level stochastic loss reserving

    NARCIS (Netherlands)

    Antonio, K.; Plat, R.

    2010-01-01

    To meet future liabilities general insurance companies will set-up reserves. Predicting future cash-flows is essential in this process. Actuarial loss reserving methods will help them to do this in a sound way. The last decennium a vast literature about stochastic loss reserving for the general insu

  10. 40 CFR 35.3565 - Specific cash draw rules for authorized types of assistance from the Fund.

    Science.gov (United States)

    2010-07-01

    ... Federal share of incurred project costs multiplied by the ratio of the guarantee reserve to the amount...) All projects method. A State may draw cash based on the incurred project costs multiplied by the ratio of the Federal portion of the reserve to the total reserve multiplied by the ratio of the...

  11. Anonymous Fingerprinting Based on Electronic Cash

    Institute of Scientific and Technical Information of China (English)

    CHENXiaofeng; ZHANGFangguo; WANGJilin; WANGYumin

    2003-01-01

    A new anonymous fingerprinting protocol based on the principle of electronic cash is proposed in this paper.Redistributing a data item is equal to doublespending electronic cash.Contrasting with the previous coin-based anonymous fingerprinting protocol,we use the real electronic cash to trace traitors instead of the "coins" which serve only as a cryptographic primitive and have no monetary value,so it is easily understood and the bank does not need key-distribution and registration to prepare the "coina".

  12. ANALYSIS AND ACCOUNTING OF TOTAL CASH FLOW

    Directory of Open Access Journals (Sweden)

    MELANIA ELENA MICULEAC

    2012-01-01

    Full Text Available In order to reach the objective of supplying some relevant information regarding the liquidity inflows and outflows during a financial exercise, the total cash flow analysis must include the analysis of result cashable from operation, of payments and receipts related to the investment and of financing decisions of the last exercise, as well as the analysis of treasury variation (of cash items. The management of total cash flows ensures the correlation of current liquidness flows as consequence of receipts with the payments ’flows, in order to provide payment continuity of mature obligations.

  13. 47 CFR 36.182 - Cash working capital.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 2 2010-10-01 2010-10-01 false Cash working capital. 36.182 Section 36.182 Telecommunication FEDERAL COMMUNICATIONS COMMISSION (CONTINUED) COMMON CARRIER SERVICES JURISDICTIONAL SEPARATIONS... Cash Working Capital § 36.182 Cash working capital. (a) The amount for cash working capital, if...

  14. Cashing in for Growth; Corporate Cash Holdings as an Opportunity for Investment in Japan

    OpenAIRE

    Galen Sher

    2014-01-01

    Over the last two decades, cash holdings in nonfinancial firms around the world have increased. This phenomenon is particularly concerning in Japan, where the success of Abenomics depends on a transition from stimulus-driven to self-sustaining growth based on private consumption and investment. This paper finds that Japanese nonfinancial firms have accumulated cash at the expense of investment and dividends, hampering this transition. The evidence suggests that cash accumulation is due to fin...

  15. Stock Liquidity and Corporate Cash Holdings: Feedback and the Cash as Ammunition Hypothesis

    OpenAIRE

    Nyborg, Kjell G.; Wang, Zexi

    2013-01-01

    The paper contributes to the literature on corporate cash holdings by showing that there is a financial markets channel that affects corporations’ cash holdings. Leaning on the literature on stock price feedback to firm fundamentals, we advance the hypothesis that firms with more liquid stocks hold more cash, ceteris paribus, as ammunition to defend against negative cascades or stimulate positive ones. This contrasts with an alternative view that firms with more liquid stocks are less financi...

  16. Modified McCash Technique for Management of Dupuytren Contracture.

    Science.gov (United States)

    Lesiak, Alex C; Jarrett, Nicole J; Imbriglia, Joseph E

    2017-05-01

    Despite recent advancements in the nonsurgical treatment for Dupuytren contracture, a number of patients remain poor nonsurgical candidates or elect for surgical management. The traditional McCash technique releases contractures while leaving open palmar wounds. Although successful in alleviating contractures, these wounds are traditionally large, transverse incisions across the palm. A modification of this technique has been performed that permits the surgeon to utilize smaller wounds while eliminating debilitating contractures. Copyright © 2017 American Society for Surgery of the Hand. Published by Elsevier Inc. All rights reserved.

  17. Conversando con... ALBERTO CAMPO BAEZA

    OpenAIRE

    Granero Martín, Francisco; Millán-Millán, Pablo-M.

    2014-01-01

    [EN] Interview with Alberto Campo Baeza, who is an architect and Project profesor in the Architecture School of Madrid. He has just been awarded the Teachinbg Excellency Award issued by the Technical University of Madrid and the 2013 Tessenow Gold Medal [ES] Entrevista con Alberto Campo Baeza, que es arquitecto y catedrático de proyectos de la Escuela de Arquitectura de Madrid. Acaba de recibir el Premio de Excelencia Docente de la Universidad Politécnica de Madrid y la Medalla de Oro Tes...

  18. ATM cash management using genetic algorithm

    Directory of Open Access Journals (Sweden)

    Ahmadreza Ghodrati

    2013-07-01

    Full Text Available Automatic teller machine (ATM is one of the most popular banking facilities to do daily financial transactions. People use ATM services to pay bills, transfer funds and withdraw cash. Therefore, we can treat ATM as a tradition inventory problem and use simulation technique to analysis the amount of cash required on different occasions such as regular days, holidays, etc. The proposed model of this paper uses genetic algorithm to determine the replenishment cash strategy for each ATM. The survey uses all transactions accomplished during the fiscal years of 2011-2012 on one of Iranian banks named Ayande. The study categorizes various ATM based on the average daily transactions into three groups of low, medium and high levels. The preliminary results of our survey indicate that it is possible to do setup different strategies to manage cash in various banks, optimally.

  19. Cash flow forecast for South African firms

    Directory of Open Access Journals (Sweden)

    Yun Li

    2015-06-01

    Full Text Available This paper applies models in the extant literature that have been used to forecast operating cash flows to predict the cash flows of South African firms listed on the Johannesburg Stock Exchange. Out-of-sample performance is examined for each model and compared between them. The reported results show that some accrual terms, i.e. depreciation and changes in inventory do not enhance cash flow prediction for the average South African firm in contrast to the reported results of studies in USA and Australia. Inclusion of more explanatory variables does not necessarily improve the models, according to the out-of-sample results. The paper proposes the application of moving average model in panel data, and vector regressive model for multi-period-ahead prediction of cash flows for South Africa firms.

  20. ANALYSIS AND ACCOUNTING OF TOTAL CASH FLOW

    National Research Council Canada - National Science Library

    MELANIA ELENA MICULEAC

    2012-01-01

    In order to reach the objective of supplying some relevant information regarding the liquidity inflows and outflows during a financial exercise, the total cash flow analysis must include the analysis...

  1. Uue kunsti muuseumis laulab Johnny Cash

    Index Scriptorium Estoniae

    2010-01-01

    Pärnu uue kunsti muuseumis linastub portreefilm ameerika kantri- ja folklauljast Johnny Cashist "Johnny Cash Folsomi vanglas", mis kirjeldab 1968. a. Folsomi vanglas karistust kandnud laulja albumi "Folsom Prison Blues" lindistamist

  2. Forecasting Daily Demand in Cash Supply Chains

    National Research Council Canada - National Science Library

    Michael Wagner

    2010-01-01

    ...: This study contrasted competing techniques of forecasting daily demand in cash supply chains in order to determine the overall performance and the potential of joint forecasting for integrated planning...

  3. Uue kunsti muuseumis laulab Johnny Cash

    Index Scriptorium Estoniae

    2010-01-01

    Pärnu uue kunsti muuseumis linastub portreefilm ameerika kantri- ja folklauljast Johnny Cashist "Johnny Cash Folsomi vanglas", mis kirjeldab 1968. a. Folsomi vanglas karistust kandnud laulja albumi "Folsom Prison Blues" lindistamist

  4. Cash Advance Accounting: Accounting Regulations and Practices

    Directory of Open Access Journals (Sweden)

    Aristita Rotila

    2012-12-01

    Full Text Available It is known the fact that often the entities offer to staff or third parties certain amounts of money, in order to make payments for the entities, such sums being registered differently in the accounting as cash advances. In the case in which the advances are offered in a foreign currency, there is the problem of the exchange rate used when justifying the advance, for the conversion in lei of payments that were carried out. In this article we wanted to signal the effect that the exchange rate, used in the assessment for reflecting in the accounting operations concerning cash advance reimbursements in a foreign currency, has on the information presented in the financial statement. Therewith, we signal some aspects from the content of the accounting regulations, with reference at defining the cash advances, meaning, and the presentation in the balance sheet of cash advances, which, in our opinion, impose clarifications.

  5. Determination of Optimal Cash Position of Mutual Fund

    Institute of Scientific and Technical Information of China (English)

    陈铭新; 张世英

    2003-01-01

    Cash position, held by mutual fund with purpose to satisfy investors′ redemption, will inevitably generate certain amount of cost. In this paper, the total cost caused by cash position is divided into opportunity cost and shortage cost, and a model is constructed to describe the relationship between total cost and cash position along with investors′ purchase and redemption, from which the formula of optimal cash position is deduced. Finally, the adjustment of optimal cash position in different market situations is discussed.

  6. IAS 7, Statement of Cash Flows – A Closer Look

    OpenAIRE

    Muthupandian, K S

    2008-01-01

    The International Accounting Standards Committee issued the the International Accounting Standard 7, Cash Flow Statements. The objective of IAS 7 is to require the presentation or provision of information about the historical changes in cash and cash equivalents of an enterprise by means of a statement of cash flows, which classifies cash flows during the period according to operating, investing, and financing activities. This article presents a closer look of standard (objective, scope, defi...

  7. THE CARD - CURRENCY WITH AND WITHOUT CASH

    Directory of Open Access Journals (Sweden)

    Nicoara Mihaela

    2012-12-01

    Full Text Available Use by individuals and businesses resulting in reduced cash cards in circulation, the corresponding increase in transfer payments and payments accounts also limit exchange risks and make effective use of currency. As a result, we have the effect of reducing cash in circulation. These advantages are also available for businesses and for banks and leads to favorable effects on import-export business. Following this, banks can diversify our products, so to meet customers' new products.

  8. 12 CFR 204.4 - Computation of required reserves.

    Science.gov (United States)

    2010-01-01

    ... RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS (REGULATION D) § 204.4 Computation of required reserves. (a) In determining the reserve requirement under this part, the amount of cash items in process of... reserves are computed by applying the reserve requirement ratios below to net transaction...

  9. La Ciudad Contra el Campo

    Directory of Open Access Journals (Sweden)

    Jaramillo Ocampo Hernán

    1940-03-01

    Full Text Available La Colombia colonial regida por virreyes, alcabaleros y frailes, fundó su economía en escasas faenas pastoriles que eran más pasatiempo de nuestros abuelos que correría económica, y en el laboreo de las minas, donde la carne de los negros inflaba las arcas de los chapetones y acrecentaba el afán imperialista de España. Contra los pilones de las rocas hostiles trabajaba una recua importada, que nunca supo de la vida cristiana y cuyo sudor recogían tres o cuatro ciudades antipáticas, encaprichadas en aclimatar las costumbres hispánicas y en gozar de los lujos y prebendas propios de una nación crecida. Hispánicas, fafaracheras y endomingadas nuestras pequeñas ciudades, aparecían en un todo divorciadas de la índole misma del pueblo, de la textura de la Colombia tropical. En esta forma fuimos preparando una línea divisoria entre la ciudad y el campo. Las ciudades progresan, se fundan nuevos pueblos, la conquista se realiza abriendo la selva para plantar moradas y clavar iglesias, mientras que en el campo reina la misma e irremediable soledad. Continúa así la lucha entre la ciudad y el campo, en la cual la primera resulta siempre triunfadora. Toda la riqueza rural está garantizando el progreso y embellecimiento de nuestras urbes, Así la despoblación de los campos no es un hecho tolerado por el país, sino preparado por éste. El traslado patrimonial del campo a la ciudad ha permitido que las clases urbanas se organicen.

  10. Cash flows: The Gap Between Reported and Estimated Operating Cash Flow Elements

    Directory of Open Access Journals (Sweden)

    Mark Hughes

    2010-03-01

    Full Text Available The FASB and the IASB recently released a joint Discussion Paper “Preliminary Views on FinancialStatement Presentation” (International Accounting Standards Board 2008, which contains a major proposalrequiring companies to report operating cash flows using the direct method and it also requires that theindirect method of calculating operating cash flows be disclosed in the notes. This is a departure from currentrules and has generated considerable debate among respondents’ comment letters on the Discussion Paper.This paper adds to this debate by providing some evidence as to the size of the gap users confront when usingthe indirect method to estimate the major operating cash flow elements, such as cash collected fromcustomers and cash paid to suppliers. Using a sample of Australian companies which reported operating cashflows using the direct method, and presented the indirect method in the notes, we find significant differencesbetween reported and estimated figures for both cash collected from customers and cash paid to suppliers.These findings support the discussion paper’s proposal that companies be required to report cash flows usingboth the direct and indirect methods.

  11. A Fair E-Cash Payment Scheme Based on Credit

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    A new fair e-cash payment scheme based on credit is present in this paper. In the scheme, an overdraft credit certificate is issued to user by bank. Using the overdraft credit certificate, user can produce e-cash himself to pay in exchanges. Merchant can verify the e-cash received from user. Bank can make a fair dispute resolution when there is a dissension between user and merchant. It can avoid the problem of partition e-cash for changes, prevent from reusing e-cash and faking e-cash. It fits justice, anonymity, non-deny and impartiality.

  12. THE EFFECT OF CHANGES IN RESERVE REQUIREMENTS DURING THE 1930s:

    OpenAIRE

    Thomas Mayer; Cargill, Thomas F.

    2004-01-01

    The differential response of cash reserves of member banks and nonmember banks not subject to the 1936-37 increase in reserve requirements is estimated to determine whether the 1937-38 recession was caused by the increase in reserve requirements. We identify 17 states that maintained constant reserve requirements from June 1934 to June 1941. While member banks increased their cash reserve ratios relative to nonmember banks, the magnitude of the adjustment is too small to have contributed to t...

  13. THE EFFECT OF CHANGES IN RESERVE REQUIREMENTS DURING THE 1930s:

    OpenAIRE

    Thomas Mayer; Cargill, Thomas F.

    2004-01-01

    The differential response of cash reserves of member banks and nonmember banks not subject to the 1936-37 increase in reserve requirements is estimated to determine whether the 1937-38 recession was caused by the increase in reserve requirements. We identify 17 states that maintained constant reserve requirements from June 1934 to June 1941. While member banks increased their cash reserve ratios relative to nonmember banks, the magnitude of the adjustment is too small to have contributed to t...

  14. VAT Cash Accounting Scheme in Romania

    Directory of Open Access Journals (Sweden)

    BUNEA-BONTAS Cristina Aurora

    2013-05-01

    Full Text Available VAT cash accounting enables the small enterprises to account for VAT on the basis of payments received and made, instead of on tax invoices issued and received. Accordingly, the VAT payable or repayable for each accounting period is the difference between the total amount of VAT included in payments received from the customers and the total amount of VAT included in payments made to the suppliers. The VAT cash accounting scheme, recently introduced for the Romanian companies by Government Ordinance no. 15/2012, entered into force on January 1st, 2013. This article reviews the basic principles of VAT cash accounting and highlights its benefits and disadvantages. It also discusses the impact and the challenges for the Romanian companies, due to the particularities of the system.

  15. An Efficient Fair Electronic Cash System

    Institute of Scientific and Technical Information of China (English)

    Guo Tao(郭涛); Li Zhitang; Tan Yunmeng; Wu Shizhong

    2003-01-01

    In this paper, an efficient fair e-cash system is presented. Based on the improved Brands' e-cash scheme, it is expanded by adding two roles, government and judges. The user can keep unconditionally anonymous in normal transactions. Authorized by the judges, the government can remove the identity of an illegal user with the help of the bank. So such misuse as blackmailing or money laundering can be prevented. Therefore, this scheme is more efficient, more suitable for adopting pre-processing and post-processing and more practical. In the paper, the details of the scheme are described, its security is proved, and its efficiency is analyzed.

  16. CASH FLOW REPORTING AND CREATIVE ACCOUNTING

    Directory of Open Access Journals (Sweden)

    Negrea Laura Georgeta

    2011-12-01

    Full Text Available Within the wide field of creative accounting, the main preoccupation of researchers surrounded earnings management. The current study comes to acknowledge that creative cash flow may distort the assessment of financial performance and should therefore, become a subject of the same interest for analysts and investors, as earnings management is. In order to reach the objective proposed, there are two hypotheses formulated, to be validated within the research: H1: Creative accounting distorts cash flow reporting within the boundaries of current regulations. H2: Real activity manipulation alters significantly the operating cash flow. The steps followed were analyzing the accounting standard related to cash flow statement, IAS 7, in order to uncover issues not taken into account, or options of allocation provided for accountants, which could lead to opportunistic choices and lack of comparability. The relevant literature was reviewed, so as to identify the opinions of accounting and finance specialists related to this subject, the results of their scientific process. The final step was a synthesis of relevant results and observations, which lead to the acceptance of the hypothesis of the research. Moreover, several techniques were identified, both related to creative accounting and to real activity manipulation, influencing mainly the figure reflecting operating cash flow, and thus the image on the potential of business continuity. Main conclusions were that the techniques applied were within the limits set by the standard: opportunistic allocation of dividends and interest collected or paid misallocation of certain activities like sale of receivables, but mainly recording non-recurring events into the operating cash flow, without separate notes of information or adjustments. Real activity manipulation should also be considered as it is even more difficult to detect, unless analysis is also performed on notes to financial reports and the figures

  17. Life Insurance Cash Flows with Policyholder Behavior

    Directory of Open Access Journals (Sweden)

    Kristian Buchardt

    2015-07-01

    Full Text Available The problem of the valuation of life insurance payments with policyholder behavior is studied. First, a simple survival model is considered, and it is shown how cash flows without policyholder behavior can be modified to include surrender and free policy behavior by calculation of simple integrals. In the second part, a more general disability model with recovery is studied. Here, cash flows are determined by solving a modified Kolmogorov forward differential equation. We conclude the paper with numerical examples illustrating the methods proposed and the impact of policyholder behavior.

  18. 48 CFR 232.072-3 - Cash flow forecasts.

    Science.gov (United States)

    2010-10-01

    ... problems. (c) Single or one-time cash flow forecasts are of limited forecasting power. As such, they should... material amounts of cash within the entire business unit responsible for contract performance, period by...

  19. Impact of cash cropping and perennial crops on food crop ...

    African Journals Online (AJOL)

    , ... Moreover, more intensive coffee production is associated with more intensive enset ... Keywords: Ethiopia, Cash crops, Food crops, Productivity, Enset. ... household food security at the household level is often based on the income cash.

  20. The FASB explores accounting for future cash flows.

    Science.gov (United States)

    Luecke, R W; Meeting, D T

    2001-03-01

    The FASB's Statement of Financial Accounting Concepts No. 7, Using Cash Flow Information and Present Value in Accounting Measurements (Statement No. 7), presents the board's views regarding how cash-flow information and present values should be used in accounting for future cash flows when information on fair values is not available. Statement No. 7 presents new concepts regarding how an asset's present value should be calculated and when the interest method of allocation should be used. The FASB proposes a present-value method that takes into account the degree of uncertainty associated with future cash flows among different assets and liabilities. The FASB also suggests that rather than use estimated cash flows (in which a single set of cash flows and a single interest rate is used to reflect the risk associated with an asset or liability), accountants should use expected cash flows (in which all expectations about possible cash flows are used) in calculating present values.

  1. Cash Transfers to Increase Antenatal Care Utilization in Kisoro ...

    African Journals Online (AJOL)

    AJRH Managing Editor

    Cash Transfers Antenatal Care, Uganda. African Journal of ... We examined whether modest cash transfers for participation in antenatal ... maternal mortality rates has been debated, it is ..... Outcome effectiveness of community health workers: ...

  2. The Cash Flow Budget. Part I--Development

    Science.gov (United States)

    Gehm, Rudy

    1978-01-01

    With the cash flow budget a college store manager can prepare himself and the business office to meet current obligations during periods of cash shortfall. Its development is described and guidelines are offered. (LBH)

  3. Tier 1 MFIs Financial Performance: Cash-flow statement analysis

    OpenAIRE

    Dumont, Gautier; Schmit, Mathias

    2013-01-01

    When assessing the financial performance of Microfinance institutions, the current literature commonly uses balance sheets and income statements. In order to assess sources of cash generated, if any, we analyse the cash flow statements of the 30 largest MFIs that display audited reports between 2006 and 2010. We find that all the MFIs of the sample had cumulated negative free cash flow over the period and positive cash flow from operations. We propose classification of MFIs based on their inv...

  4. Intangible Capital and Corporate Cash Holdings: Theory and Evidence

    OpenAIRE

    Dalida Kadyrzhanova; Antonio Falato; Jae Sim

    2012-01-01

    The rise in intangible capital is a fundamental driver of the secular trend in US corporate cash holdings over the last decades. We construct a new measure of intangible capital and show that intangible capital is the most important firm-level determinant of corporate cash holdings. Our measure accounts for almost as much of the secular increase in cash since the 1980s as all other standard determinants together. We then develop a new model of corporate cash holdings that introduces intangibl...

  5. FASB 95--a tool for identifying cash flow problems.

    Science.gov (United States)

    Edwards, D E; Hauser, R C

    1989-06-01

    Increasing expenditures and longer collection periods for receivables are symptoms of the cash flow problem that many not-for-profit healthcare organizations face. The FASB 95 provisions for a cash flow statement could help many of these organizations deal with their cash flow crises. The statement allows managers to evaluate their institution's financial performance, providing timely information that may make the difference in the struggle to maintain an adequate cash position.

  6. Back to Basics: Teaching the Statement of Cash Flows

    Science.gov (United States)

    Cecil, H. Wayne; King, Teresa T.; Andrews, Christine P.

    2011-01-01

    A conceptual foundation for the Statement of Cash Flows based on the ten elements of financial statements provides students with a deep understanding of core accounting concepts. Traditional methods of teaching the statement of cash flows tend to focus on statement preparation rules, masking the effect of business events on the change in cash.…

  7. 12 CFR 952.5 - Community Investment Cash Advance Programs.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Community Investment Cash Advance Programs. 952... OFF-BALANCE SHEET ITEMS COMMUNITY INVESTMENT CASH ADVANCE PROGRAMS § 952.5 Community Investment Cash... targeted community lending at the appropriate targeted income levels. (3) Each Bank may offer RDF...

  8. Good cash flow = come in fast, go out slow!

    Science.gov (United States)

    Garvey, Sherill

    2002-07-01

    The formula for successful cash management in home care is a simple one: The agency must bring cash in as quickly as possible, while keeping expenditures at as low and slow a pace as possible. However, while the formula may be simple, success may be elusive unless agency administrators have a well-thought-out plan to handle cash management.

  9. 19 CFR 10.40 - Refund of cash deposits.

    Science.gov (United States)

    2010-04-01

    ... 19 Customs Duties 1 2010-04-01 2010-04-01 false Refund of cash deposits. 10.40 Section 10.40... TREASURY ARTICLES CONDITIONALLY FREE, SUBJECT TO A REDUCED RATE, ETC. General Provisions Temporary Importations Under Bond § 10.40 Refund of cash deposits. (a) When a cash deposit is made in lieu of surety,...

  10. Tuberculosis pulmonar de campos inferiores

    OpenAIRE

    Alejandra González; Marcelo Fernández Casares; Matías Baldini; Alfredo Monteverde

    2010-01-01

    La tuberculosis (TB) que compromete sólo los campos pulmonares inferiores (TBCI) es poco frecuente en el adulto y en general está asociada a alguna causa de inmunodepresión. El objetivo de nuestro trabajo fue determinar la incidencia de TBCI en nuestra población y comparar sus características respecto de la TB pulmonar de localización habitual. Se estudiaron en forma retrospectiva en el período de 2004 a 2008, 42 pacientes con TBCI que fueron comparados con 84 pacientes con TB pulmonar de loc...

  11. Aves de pampas y campos

    OpenAIRE

    Codesido, Mariano

    2015-01-01

    Crítica detallada del libro Azpiroz, AB, 2012: `Aves de las pampas y campos de Argentina, Brasil y Uruguay. Una guía de identificación" en el cual se destacan sus fortalezas y se discuten sus debilidades. Fil: Codesido, Mariano. Consejo Nacional de Invest. Científ.y Técnicas. Oficina de Coordinación Administrativa Ciudad Universitaria. Instituto de Ecología, Genética y Evolución de Bs. As; Argentina;

  12. NOKIA PERFORMANCE AND CASH FLOW ANALYSIS

    Directory of Open Access Journals (Sweden)

    Moscviciov Andrei

    2011-12-01

    Full Text Available In this paper the author presents the ways to analyze the performance of the company Nokia. Thus based on a system of indicators are highlighted the key situations that emphasize performance, namely: operational activity, financial balance, cash flows.

  13. Why Cash "Doesn't" Motivate...

    Science.gov (United States)

    Freifeld, Lorri

    2011-01-01

    If money is the root of all evil, is it also the root of all motivation? When talking about workplace performance and training, the experts' consensus is a resounding "No." This article discusses why cash doesn't motivate everyone all the time when it comes to workplace performance and training and takes a look at what does.

  14. Conditional Cash Transfers and School Dropout Rates

    Science.gov (United States)

    Dearden, Lorraine; Emmerson, Carl; Frayne, Christine; Meghir, Costas

    2009-01-01

    This paper evaluates a United Kingdom pilot study designed to test whether a means-tested conditional cash transfer paid to 16- to 18-year-olds for staying in full-time education is an effective way of reducing the proportion of school dropouts. The transfer's impact is substantial: In the first year, full-time education participation rates…

  15. Keep a Tight Fist on Petty Cash.

    Science.gov (United States)

    Shannon, Thomas A., Jr.

    1979-01-01

    The listed guidelines for keeping track of petty cash in the schools are organized into three areas--making sure each school has an adequate method of collecting and banking money, adopting a simple and uniform bookkeeping system, and promoting fiscal responsibility. (IRT)

  16. Why Cash "Doesn't" Motivate...

    Science.gov (United States)

    Freifeld, Lorri

    2011-01-01

    If money is the root of all evil, is it also the root of all motivation? When talking about workplace performance and training, the experts' consensus is a resounding "No." This article discusses why cash doesn't motivate everyone all the time when it comes to workplace performance and training and takes a look at what does.

  17. Conditional Cash Transfers and School Dropout Rates

    Science.gov (United States)

    Dearden, Lorraine; Emmerson, Carl; Frayne, Christine; Meghir, Costas

    2009-01-01

    This paper evaluates a United Kingdom pilot study designed to test whether a means-tested conditional cash transfer paid to 16- to 18-year-olds for staying in full-time education is an effective way of reducing the proportion of school dropouts. The transfer's impact is substantial: In the first year, full-time education participation rates…

  18. Reserve requirement systems in OECD countries

    OpenAIRE

    Yueh-Yun C. O’Brien

    2007-01-01

    This paper compares the reserve requirements of OECD countries. Reserve requirements are the minimum percentages or amounts of liabilities that depository institutions are required to keep in cash or as deposits with their central banks. To facilitate monetary policy implementation, twenty-four of the thirty OECD countries impose reserve requirements to influence their banking systems’ demand for liquidity. These include twelve OECD countries that are also members of the European Economic and...

  19. Reserve requirement systems in OECD countries

    OpenAIRE

    Yueh-Yun C. O’Brien

    2007-01-01

    This paper compares the reserve requirements of OECD countries. Reserve requirements are the minimum percentages or amounts of liabilities that depository institutions are required to keep in cash or as deposits with their central banks. To facilitate monetary policy implementation, twenty-four of the thirty OECD countries impose reserve requirements to influence their banking systems’ demand for liquidity. These include twelve OECD countries that are also members of the European Economic and...

  20. The Importance of Cash in Conditional Cash Transfer Programs for Child Health, Growth and Development:

    Science.gov (United States)

    Fernald, Lia C. H.; Gertler, Paul J.; Neufeld, Lynnette M.

    2009-01-01

    Background Many governments around the world have implemented conditional cash transfer (CCT) programs with the goal of improving options for poor families through interventions in health, nutrition and education. Families enrolled in CCT programs receive cash in exchange for complying with “conditionalities” – preventive health requirements and nutrition supplementation, education and monitoring designed to improve health outcomes and promote positive behavior change. A great challenge in evaluating the effectiveness of CCT programs has been disaggregating the effects of the cash transfer component from that of the conditionalities. Methods In an intervention that began in 1998 in Mexico, low-income communities (n=506) were randomly assigned to be enrolled in a CCT program (Oportunidades, formerly Progresa) immediately or 18 months later. In 2003, children (n=3793), aged 24–72 months who had been enrolled in the program their entire lives, were assessed for a wide variety of outcomes. The analyses reported here separated out the association of the cash transfer component of Oportunidades with several outcomes in children from the program conditionalities, while controlling for a wide range of covariates including many measures of household socio-economic status. Findings An increase in the cash transfer to the household was associated with higher height-for-age z-score and hemoglobin concentration, lower prevalence of stunting, and lower prevalence of overweight. Children in families whose households received a greater quantity of cash also performed better on a scale of motor development (McCarthy Test of Children’s Abilities), three scales of cognitive development (sub-scales of the Woodcock-Muñoz, including working memory), and receptive language (Test de Vocabulario en Imágenes Peabody). Interpretation The results suggest that the cash transfer component of Oportunidades is associated with better outcomes in child health and development. PMID

  1. Money matters: cash transfers for adaptation

    Energy Technology Data Exchange (ETDEWEB)

    Wood, Rachel Godfrey

    2011-04-15

    Developed countries have pledged billions of dollars a year to help poor nations adapt to climate change. But how should the money be spent? For the world's poor, who are both the most vulnerable to climate change and the most in need of social protection, the best answer may be cash transfer programmes. Giving money out in this way has a strong track record in reaching the poor and helping them improve their nutrition, education and incomes — all of which are vital for building their long-term capacity to adapt to climate change. Cash transfers are also well accepted at the local level and, given the right political backing, can be implemented on a broad scale.

  2. Poker Cash Game: a Thermodynamic Description

    CERN Document Server

    Javarone, Marco Alberto

    2015-01-01

    Poker is one of the most popular card games, whose rational investigation represents also one of the major challenges in several scientific areas, spanning from information theory and artificial intelligence to game theory and statistical physics. In principle, several variants of Poker can be identified, although all of them make use of money to make the challenge meaningful and, moreover, can be played in two different formats: tournament and cash game. An important issue when dealing with Poker is its classification, i.e., as a `skill game' or as gambling. Nowadays, its classification still represents an open question, having a long list of implications (e.g., legal and healthcare) that vary from country to country. In this study, we analyze Poker challenges, considering the cash game format, in terms of thermodynamics systems. Notably, we propose a framework to represent a cash game Poker challenge that, although based on a simplified scenario, allows both to obtain useful information for rounders (i.e., ...

  3. Financial Development and Investment-Cash Flow Sensitivity

    Directory of Open Access Journals (Sweden)

    Jungwon Suh

    2007-06-01

    Full Text Available Using firm-level data from thirty-five countries around the world, this paper empirically examines whether investment-cash flow sensitivity reflects financial constraints. Recent US studies have raised questions on the prediction that investment-cash flow sensitivity is a measure of financial constraints. Looking at thirty-five countries with varying degrees of financial development, this study tests whether investment-cash flow sensitivity is in fact related to financial constraints. In most countries, the evidence supporting the argument that firms likely facing financially constraints display high investment-cash flow sensitivity is weak. Moreover, the evidence that firms in the absence of developed financial markets display high investment-cash flow sensitivity is also weak. Overall, the results from this international investigation do not support the prediction that investment-cash flow sensitivity reflects financial constraints.

  4. COMPARATIVE STUDY ON ACCOUNTING MODELS "CASH" AND "ACCRUAL"

    OpenAIRE

    Tatiana Danescu; Luminita Rus

    2013-01-01

    Accounting, as a source of information, can recognize the economic transactionstaking into account the time of payment or receipt thereof, as soon as they occur. There are twobasic models of accounting: accrual basis and cash basis. In the cash accounting method thetransactions are recorded only when cash is received or paid, shall not make the difference betweenthe purchase of an asset and the payment of expenditure - both of which are considered"payments". Accrual accounting achieves this d...

  5. Ranking of States and Commodities by Cash Receipts, 1991

    OpenAIRE

    Strickland, Roger P.; Johnson, Cheryl; Williams, Robert P.

    1992-01-01

    This publication identifies the 25 leading agricultural commodities produced in each State and the United States, ranked by the value of cash receipts. The major producing States, ranked by cash receipts, for each of the 25 leading commodities in the United States and for several major commodity groups are also identified. The information is derived from U.S. Department of Agriculture's cash receipts statistics for the marketing of agricultural commodities within States. The ranking of commod...

  6. CASH FLOWS IN ROMANIAN SMALL AND MEDIUM ENTERPRISES

    Directory of Open Access Journals (Sweden)

    GĂBAN LUCIAN

    2016-08-01

    Full Text Available Financial reporting system includes three main pillars, namely balance sheet, income statement and cash flow. If the balance sheet reflects shareholders’ wealth at a given time, income statement demonstrates the efficiency or inefficiency of the activity and cash flows measures the company’s viability. This is the reason for which I have approached the cash flow matter in this paper, reviewing the latest studies and studying in detail the evolution of cash flow ratios on small and medium enterprises in Romania for a period between 2006 and 2014, highlighting the effects of the financial crisis on these enterprises

  7. A NEW ANONYMITY CONTROLLED E-CASH SCHEME

    Institute of Scientific and Technical Information of China (English)

    Zhang Fangguo; Wang Changjie; Wang Yumin

    2002-01-01

    E-cash is a type of very important electronic payment systems. The complete anonymity of E-cash can be used for criminal activities, so E-cash should be anonymity controlled.Moreover, Elliptic Curve Cryptography(ECC) has been regard as the mainstream of current public cryptography . In this paper, a new anonymity controlled E-cash scheme based on ECC for the first time and using a new technology-one-time key pairs digital signature is designed, and its security and efficiency are analyzed. In our scheme, the coin tracing and owner tracing can be implemented.

  8. Required reserves as a credit policy tool

    OpenAIRE

    Mimir, Yasin; Sunel, Enes; Taskin, Temel

    2012-01-01

    This paper conducts a quantitative investigation of the role of reserve requirements as a macroprudential policy tool. We build a monetary DSGE model with a banking sector in which (i) an agency problem between households and banks leads to endogenous capital constraints for banks in obtaining funds from households, (ii) banks are subject to time-varying reserve requirements that countercyclically respond to expected credit growth, (iii) households face cash-in-advance constraints, requiring ...

  9. Casa de campo en Buchs

    Directory of Open Access Journals (Sweden)

    Gantenbein, Werner

    1963-07-01

    Full Text Available This charming country house is situated on an ample site, of about 1,500 ms2 of which 380 ms2 are built up. It has a commanding view to the south. It is noteworthy in consisting of a single storey at the front, which splits up into two levels towards the rear of the house; a semibasement and a partially elevated ground floor. The building can be differentiated into three zones: living space, bedrooms and services. It has been built with highly varied materials, including carved gres, timber, brick, and ceramic tiles; such, however, that they harmonise closely with each other. The garden surrounding the house greatly enhances the attractiveness of the whole, and succeeds in strengthening the relationship between the interior and the outdoor nature: a condition that is essential in a country dwelling.Esta graciosa casa de campo, situada en un amplio terreno de unos 1.500 m2, de los cuales la edificación abarca 380 m2, goza de una orientación sur dominante. Ofrece la particularidad de tener una sola planta en la parte delantera, bifurcada en dos alturas —semisótano y entreplanta— al llegar a su parte posterior. Aparece distribuida en tres zonas: estancia, dormitorios y servicio. Se ha construido a base de materiales diferentes —gres tallado, madera, ladrillo y losetas cerámicas—, pero en consonancia unos con otros. El jardín que rodea el edificio contribuye a aumentar el encanto y atractivo de esta edificación y consigue, con éxito, establecer un mayor contacto del interior con la naturaleza, condición indispensable en una residencia campestre.

  10. Tuberculosis pulmonar de campos inferiores

    Directory of Open Access Journals (Sweden)

    Alejandra González

    2010-10-01

    Full Text Available La tuberculosis (TB que compromete sólo los campos pulmonares inferiores (TBCI es poco frecuente en el adulto y en general está asociada a alguna causa de inmunodepresión. El objetivo de nuestro trabajo fue determinar la incidencia de TBCI en nuestra población y comparar sus características respecto de la TB pulmonar de localización habitual. Se estudiaron en forma retrospectiva en el período de 2004 a 2008, 42 pacientes con TBCI que fueron comparados con 84 pacientes con TB pulmonar de localización habitual (grupo control. Se excluyeron pacientes con HIV. La TBCI representó el 6% del total de TB pulmonar. No se encontraron diferencias significativas en cuanto a edad, sexo, presencia de cavidades en la radiografía, días de evolución y nivel de albúmina. La TBCI tuvo significativamente mayor proporción de comorbilidades (p < 0.001, presencia de condensación (p < 0.001 y compromiso unilateral (p < 0.001 en la radiografía de tórax, junto con mayor número de internaciones (p = 0.02. Cabe destacar que sólo16 de los 42 pacientes con TBCI (38% tenían alguna comorbilidad demostrada. La TBCI puede presentarse aun sin comorbilidades asociadas y debe sospecharse en neumonías de evolución tórpida independientemente de su localización.

  11. A Monte Carlo Comparison between the Free Cash Flow and Discounted Cash Flow Approaches

    OpenAIRE

    Akalu, M.M.; Turner, Rodney

    2002-01-01

    textabstractOne of the debates in the capital budgeting model selection is between the free cash flow and DCF methods. In this paper an attempt is made to compare SVA against NPV model based on Monte Carlo simulations. Accordingly, NPV is found less sensitive to value driver variations and has got higher forecast errors as compared to SVA model.

  12. A Monte Carlo Comparison between the Free Cash Flow and Discounted Cash Flow Approaches

    NARCIS (Netherlands)

    M.M. Akalu; J.R. Turner (Rodney)

    2002-01-01

    textabstractOne of the debates in the capital budgeting model selection is between the free cash flow and DCF methods. In this paper an attempt is made to compare SVA against NPV model based on Monte Carlo simulations. Accordingly, NPV is found less sensitive to value driver variations and has got h

  13. Small business, cash budgets and general practice.

    Science.gov (United States)

    Jackson, A R

    1991-01-01

    In practice management, general practice falls into the category of small business with all its attendant generic problems. Disciplined planning and good financial management are not often seen in small business. These are required if general practitioners are to continue (or return to) the provision of high quality medical services. An effective budget process, especially cash-flow budgeting, is the key to successful planning and financial management. Budgeting will bring Control, Co-ordination, and Credibility to your practice. It will enable you to set goals and to achieve them.

  14. Campo intectual y campo pedagógico de la educación

    OpenAIRE

    Echeverri Sánchez, Jesús Alberto; Zuluaga Garcés, Olga Lucía

    1997-01-01

    El mayor mérito de la noción de Campo es poner límite a la dispersión, al crear una noción que permite a la intelectualidad vinculada a la investigación pedagógica y educativa pensarse como sujeto di la cultura diferencial contemporánea. En el Campo se puede profundizar sobre el proceso de diferenciación entre· Campo Pedagógico y Campo intelectual de la educación en la dirección de reconocerle al Campo Pedagógico la potencia de reconceptualizar al lado de la recontextualización. El Campo inte...

  15. Discounted cash flow valuation methods: Examples of perpetuities, constant growth and general case

    OpenAIRE

    Fernandez, Pablo

    2005-01-01

    This paper explores the discounted cash flow valuation methods. We start the paper with the simplest case: no-growth, perpetual-life companies. Then we will study the continuous growth case and, finally, the general case. The different concepts of cash flow used in company valuation are defined: equity cash flow (ECF), free cash flow (FCF), and capital cash flow (CCF). Then the appropriate discount rate is determined for each cash flow, depending on the valuation method used. Our starting poi...

  16. Discounted cash flow valuation methods: Examples of perpetuities, constant growth and general case

    OpenAIRE

    Fernandez, Pablo

    2005-01-01

    This paper explores the discounted cash flow valuation methods. We start the paper with the simplest case: no-growth, perpetual-life companies. Then we will study the continuous growth case and, finally, the general case. The different concepts of cash flow used in company valuation are defined: equity cash flow (ECF), free cash flow (FCF), and capital cash flow (CCF). Then the appropriate discount rate is determined for each cash flow, depending on the valuation method used. Our starting poi...

  17. Creditor rights, country governance, and corporate cash holdings

    NARCIS (Netherlands)

    Seifert, Bruce; Gonenc, Halit

    2016-01-01

    This study examines the impact of creditor rights and country governance on cash holdings using a sample of firms from 47 countries. We hypothesize that cash holdings are smaller when both creditor rights and country governance are high. In these circumstances firms will not need to hold as much cas

  18. Why Cash Flow Is No Longer for Wimps

    Science.gov (United States)

    Curry, John R.; Hutton, Lyn

    2012-01-01

    Managing liquidity--a college or university's ability to access cash quickly or to easily convert assets to cash--is an increasingly crucial component of enterprise risk management. Liquidity risks lurk around nearly every corner--in the endowment portfolio, the debt portfolio, and in working-capital management. It also influences students'…

  19. 31 CFR 206.6 - Cash management planning and review.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Cash management planning and review... planning and review. (a) An agency shall periodically perform cash management reviews to identify areas...) FISCAL SERVICE, DEPARTMENT OF THE TREASURY FINANCIAL MANAGEMENT SERVICE MANAGEMENT OF FEDERAL AGENCY...

  20. Why Cash Flow Is No Longer for Wimps

    Science.gov (United States)

    Curry, John R.; Hutton, Lyn

    2012-01-01

    Managing liquidity--a college or university's ability to access cash quickly or to easily convert assets to cash--is an increasingly crucial component of enterprise risk management. Liquidity risks lurk around nearly every corner--in the endowment portfolio, the debt portfolio, and in working-capital management. It also influences students'…

  1. Do Consumers Pay More Using Debit Cards than Cash?

    DEFF Research Database (Denmark)

    Runnemark, Emma; Hedman, Jonas; Xiao, Xiao

    We conduct an incentivized experiment to test whether the willingness to pay is higher for debit cards compared to cash for three consumer products. Our findings support this conjecture also after controlling for cash availability, spending type, price familiarity and consumption habits of the pr...

  2. Fourteen Steps to More Effective Cash Flow Management

    Science.gov (United States)

    Neugebauer, Roger

    2004-01-01

    Managing cash flow is an incredibly important skill for a center director. Even a center with an annual budget showing a healthy surplus may experience brief periods where funds in the checkbook are insufficient to pay all the bills. To discover how successful directors manage cash flow in tight times, the author surveyed members of the "Exchange…

  3. Fourteen Steps to More Effective Cash Flow Management

    Science.gov (United States)

    Neugebauer, Roger

    2004-01-01

    Managing cash flow is an incredibly important skill for a center director. Even a center with an annual budget showing a healthy surplus may experience brief periods where funds in the checkbook are insufficient to pay all the bills. To discover how successful directors manage cash flow in tight times, the author surveyed members of the "Exchange…

  4. A Model for Determining School District Cash Flow Needs.

    Science.gov (United States)

    Dembowski, Frederick L.

    This paper discusses a model to optimize cash management in school districts. A brief discussion of the cash flow pattern of school districts is followed by an analysis of the constraints faced by the school districts in their investment planning process. A linear programming model used to optimize net interest earnings on investments is developed…

  5. A Logical Approach to the Statement of Cash Flows

    Science.gov (United States)

    Petro, Fred; Gean, Farrell

    2014-01-01

    Of the three financial statements in financial reporting, the Statement of Cash Flows (SCF) is perhaps the most challenging. The most difficult aspect of the SCF is in developing an understanding of how previous transactions are finalized in this document. The purpose of this paper is to logically explain the indirect approach of cash flow whereby…

  6. The Cash Flow Budget. Part II--Implementation

    Science.gov (United States)

    Gehm, Rudy

    1978-01-01

    An "aged accounts payable" (A/P) summary and a cash disbursements journal are advocated as management measures useful in monitoring the cash flow in a college store. Methods for maintaining the A/P summary and for updating the journal are illustrated. (LBH)

  7. 7 CFR 273.20 - SSI cash-out.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 4 2010-01-01 2010-01-01 false SSI cash-out. 273.20 Section 273.20 Agriculture... FOOD STAMP AND FOOD DISTRIBUTION PROGRAM CERTIFICATION OF ELIGIBLE HOUSEHOLDS § 273.20 SSI cash-out. (a) Ineligibility. No individual who receives supplemental security income (SSI) benefits and/or State supplementary...

  8. 18 CFR 154.306 - Cash working capital.

    Science.gov (United States)

    2010-04-01

    ... may not receive a cash working capital adjustment to its rate base unless the company or other... 18 Conservation of Power and Water Resources 1 2010-04-01 2010-04-01 false Cash working capital..., DEPARTMENT OF ENERGY REGULATIONS UNDER NATURAL GAS ACT RATE SCHEDULES AND TARIFFS Material To Be Filed...

  9. Do Consumers Pay More Using Debit Cards than Cash

    DEFF Research Database (Denmark)

    Runnemark, Emma; Hedman, Jonas; Xiao, Xiao

    2015-01-01

    We conduct an incentivized experiment to study the effect of the payment method on spending. We find that the willingness to pay is higher when subjects pay with debit cards compared to cash. The result is robust to controlling for cash-on-hand constraints, spending type, price familiarity and co...

  10. Cash-based interventions: lessons from southern Somalia.

    Science.gov (United States)

    Mattinen, Hanna; Ogden, Kate

    2006-09-01

    Commodity distributions, the predominant relief response, are subject to growing criticism, while donors and humanitarian actors are increasingly viewing cash-based interventions as a viable alternative. This paper aims to contribute to the current debate on cash-based interventions by drawing on the experience of Action Contre la Faim in southern Somalia, where it has implemented cash for work programmes since 2004. The authors conclude that cash-based interventions are a feasible option in complex emergencies as well as in highly insecure environments as long as appropriate modalities are employed and objectives are clearly set in accordance with the needs and the context. Cash as a relief response offers wide-reaching possibilities for the future from both the perspective of the donor/agency and the standpoint of the beneficiary. It enables the beneficiaries to take control of the relief themselves and to adapt it to their individual requirements in a timely manner.

  11. Internationalization and Corporate Cash Holdings: Evidence from Brazil and Mexico

    Directory of Open Access Journals (Sweden)

    Newton Arata

    2015-05-01

    Full Text Available This research expands on previous studies of cash holdings and their determinants by studying the relationship between the degree of internationalization and the level of corporate cash holdings. We used a sample of nonfinancial, publicly traded companies from Brazil and Mexico for the period from 2006 to 2010. Our results suggest that the degree of internationalization is a determinant of cash, and that cash holding increases quadratically as the degree of company internationalization grows. Such behavior was different from the North American company studies in Chiang and Wang (2011. Similar to previous studies, both Trade-off and Pecking Order predictions are relevant control variables in our model. Finally, companies held less cash on their balance sheets during the precrisis period.

  12. FREE CASH FLOW AS PART OF VOLUNTARY REPORTING. LITERATURE REVIEW

    Directory of Open Access Journals (Sweden)

    Negrea Laura Georgeta

    2011-12-01

    Full Text Available The present study has as main objective to reflect the state of literature regarding free cash flow, and to withdraw the main pro's and con's in order to create an objective image upon this indicator. The main idea generating this research was the growing interest on cash flow reporting. As many say, 'Cash Flow is King', while in Anglo Saxon countries the interest of investors and analysts in concentrated on operating cash flow, as the most important indicator of the probability of bankruptcy. In this context, voluntary additional reporting, like free cash flow may come either as an aid in providing the fair view or as an opportunistically reported figure. Throughout the paper, the intention was to provide answers to three main research questions: What are the definition and calculation method of free cash flow? Why is there an interest in free cash flow reporting? What is the impact of free cash flow on the agency theory? In order to provide relevant conclusions, four international data basis were used, and related articles and studies were extracted. The results proved that there is no generally accepted definition and computing method, while the format depends on the end-user of the report (shareholders, investors, analysts, bankers, a.s.o.. As stated below, this aspect generates confusion and lack of comparability, giving room to creative accounting techniques. Moreover, the interest on free cash flow reporting is connected mainly to liquidity assessment, company valuation and investors choice. Still, in the context of agency theory, results show that in presence of high free cash flow, managers tend to make investment choices that satisfy their personal interest and that generate low efficiency and profitability for the company. The contribution to current state of research is providing a literature review study, focused on a comparative approach, as well as on underlying an objective image upon a debatable financial indicator and

  13. Piping cash out of provincial pockets

    Energy Technology Data Exchange (ETDEWEB)

    Vanagas, S.

    1996-01-01

    The Vancouver Island Gas Pipeline Project (VIGAS) received funding in 1988, but the project ran into political delays, environmental impact studies and design changes. By the time it was finished in 1991 VIGAS was $110 million over its capital budget of $250 million. Furthermore, it was facing losses of as much as $449 million, a risk that the Province was unwilling to take on. Under a new agreement with Westcoast Energy Inc., the province will pay $120 million cash to Pacific Coast Energy Co., and cede future gas royalties to Centra Gas Inc. It will also defer repayment of $75 million in interest-free loans. The province will then phase out its subsidy for VIGAS customers over the next six years, at which point the pipeline will become an entirely commercial venture with prices based on the market rate.

  14. Rush for cash crops and forest protection

    DEFF Research Database (Denmark)

    Vongvisouk, Thoumthone; Broegaard, Rikke Brandt; Mertz, Ole

    2016-01-01

    forest cover and prepares for REDD+ (reducing deforestation and forest degradation). This paper explores how the recent boom in cash crops is impacting land use and livelihoods of local communities, as well as affecting forest conservation in Hua Meuang District of Huaphan Province in northeastern Laos...... and have achieved an increase in both income and household assets. Maize has replaced upland rice cultivation as well as primary and secondary forests. Although the government policies aim to spare land for forest conservation by intensifying agriculture, the result is rapid agricultural expansion...... and no spared forest. Moreover, the traditional land-sharing landscapes with forest, fallows, and fields are being transformed, creating landscapes that are increasingly dominated by agriculture. This may still be in line with economic development policies, but it is at odds with forest conservation policies...

  15. Cash incentives improve participation rate in a face-to-face survey: an intervention study.

    Science.gov (United States)

    Chen, Ke; Lei, Han; Li, Ge; Huang, Wei; Mu, Lihong

    2015-02-01

    Our study examined the effect of a ChinaYuan (CNY) 10 cash incentive on the participation rate in a face-to-face health survey among the general Chinese population. Subjects older than 15 years of age and had been living in the two selected districts for more than 6 months were selected using multistage random sampling. Participants from only one district received a cash incentive (CNY 10) for completing the survey. The participation rates in the nonincentive and incentive groups were 39.9% and 61.2%, respectively, P rate (54.4%); no significant difference was found between men (39.4%) and women (40.5%), P = 0.59. In the incentive group, the highest participation rate was observed in the ≥75 years (78.1%) age group. The cost for a completed interview was CNY 34.5 in the incentive group and CNY 35.8 in the nonincentive group. Cash incentives might increase participation rates in face-to-face surveys in China. The absolute cost was higher for the incentive group, whereas cost for a completed interview was actually the lowest. Furthermore, participation rate did not differ between men and women, but elders were more likely to participate in health surveys. Copyright © 2015 Elsevier Inc. All rights reserved.

  16. Atomic and efficient e-cash transaction protocol

    Institute of Scientific and Technical Information of China (English)

    王茜; 杨德礼

    2004-01-01

    Atomicity is necessary for reliable and secure electronic commerce transaction and to guarantee the participants'interests. An atomic and efficient e-cash (electronic cash) transaction protocol based on the classical e-cash scheme is presented. The delivery of digital goods is incorporated into the process of payment in the protocol. Apart from ensuring all three levels of atomicity, the novel protocol features high efficiency and practicability with unfavorable strong assumption removed. Furthermore, the proposed protocol provides non-repudiation proofs for any future disputes. At last, analysis of the atomicity and efficiency is illustrated.

  17. Dividend growth, cash flow, and discount rate news

    OpenAIRE

    Garrett, Ian; Priestley, Richard

    2012-01-01

    Using a new variable based on a model of dividend smoothing, we find that dividend growth is highly predictable and that cash flow news contributes importantly to return variability. Cash flow betas derived from this predictability are central to explaining the size effect in the cross section of returns. However, they do not explain the value effect; this is explained by noise betas. We also find that the relative importance of cash flow news in explaining recent stock price run-ups and subs...

  18. Cash Holdings and Leverage of German Listed Firms

    DEFF Research Database (Denmark)

    Rapp, Marc Steffen; Killi, Andreas Maximilian

    2016-01-01

    We examine cash holdings and leverage levels of German listed (non-financial and non-utility) firms. We document a secular increase in cash ratios over the last twenty years (1992–2011), reducing the net debt book leverage ratio for the average sample firm close to zero. Using prediction models...... firms are associated with measures of uncertainty faced by firms. Our results suggest that German firms have increased (reduced) their cash (net debt leverage) levels over time in order to adopt more precautionary financial policies....

  19. NO-CASH PAYMENTS IN ROMANIA AND EU AREA

    Directory of Open Access Journals (Sweden)

    RADULESCU MAGDALENA

    2017-02-01

    Full Text Available In this paper we present the non-cash payment methods used in Romania against other European Union countries to stress the main differences of the latest developments in this specific area since the crisis errupted up to present. In Romania, the most common payment method is transfer credit, because of its simplicity and because it is less risky than the other non-cash payment methods, while in EU direct debit and credit cards are more common. However, the value per transaction for any type of non-cash instruments (except for cheques is smaller in Romania than in other EU countries.

  20. Dividend growth, cash flow, and discount rate news

    OpenAIRE

    Garrett, Ian; Priestley, Richard

    2012-01-01

    Using a new variable based on a model of dividend smoothing, we find that dividend growth is highly predictable and that cash flow news contributes importantly to return variability. Cash flow betas derived from this predictability are central to explaining the size effect in the cross section of returns. However, they do not explain the value effect; this is explained by noise betas. We also find that the relative importance of cash flow news in explaining recent stock price run-ups and subs...

  1. In conversation with... Alberto Campo Baeza

    OpenAIRE

    Campo Baeza, Alberto; Granero Martín, Francisco; Millán-Millán, Pablo-M.

    2014-01-01

    Alberto Campo Baeza es arquitecto y catedrático de proyectos de la Escuela de Arquitectura de Madrid. Acaba de recibir el Premio de Excelencia Docente de la Universidad Politécnica de Madrid y la Medalla de Oro Tessenow 2013. Alberto Campo Baeza is an architect and Project profesor in the Architecture School of Madrid. He has just been awarded the Teachinbg Excellency Award issued by the Technical University of Madrid and the 2013 Tessenow Gold Medal. Asociación Española de Depart...

  2. Cash Component of Conditional Cash Transfer Program Is Associated with Higher Body Mass Index and Blood Pressure in Adults12

    Science.gov (United States)

    Fernald, Lia C. H.; Gertler, Paul J.; Hou, Xiaohui

    2008-01-01

    The cash component of Oportunidades, a large conditional cash transfer (CCT) program in Mexico, has previously been shown to be associated with better outcomes for child growth and development. The objective of this analysis was to determine whether the cash transfers were also associated with positive outcomes for adult health. Oportunidades was originally randomized across 506 rural (Oportunidades's requirements for the entire period, but some received higher cumulative cash transfers because they were living in communities randomized to begin receiving transfers earlier and/or they accumulated cash at a faster rate because they had more school-aged children at baseline. Our primary findings were that a doubling of cumulative cash transfers to the household was associated with higher BMI (β = +0.83, 95% CI 0.46, 1.20; P Oportunidades has been portrayed as a model for CCT programs worldwide, but the results reported here support the notion that the cash component of Oportunidades may be negatively associated with some adult health outcomes. PMID:18936227

  3. Cash component of conditional cash transfer program is associated with higher body mass index and blood pressure in adults.

    Science.gov (United States)

    Fernald, Lia C H; Gertler, Paul J; Hou, Xiaohui

    2008-11-01

    The cash component of Oportunidades, a large conditional cash transfer (CCT) program in Mexico, has previously been shown to be associated with better outcomes for child growth and development. The objective of this analysis was to determine whether the cash transfers were also associated with positive outcomes for adult health. Oportunidades was originally randomized across 506 rural (Oportunidades's requirements for the entire period, but some received higher cumulative cash transfers because they were living in communities randomized to begin receiving transfers earlier and/or they accumulated cash at a faster rate because they had more school-aged children at baseline. Our primary findings were that a doubling of cumulative cash transfers to the household was associated with higher BMI (beta = +0.83, 95% CI 0.46, 1.20; P Oportunidades has been portrayed as a model for CCT programs worldwide, but the results reported here support the notion that the cash component of Oportunidades may be negatively associated with some adult health outcomes.

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

    Science.gov (United States)

    Tuner, James A.

    2016-01-01

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

  5. Cash Flow Statement Spreadsheet Modeling Case Using a Prototype System Development Process

    Science.gov (United States)

    Davis, Jefferson T.

    2015-01-01

    U.S. GAAP and IFRS standards both require a cash flow statement that presents operating, investing and financing net cash flows (FASB, FAS 95; 1987; IASB, IAS 7, 1992). Although students are exposed to the cash flow statement in beginning accounting courses and then study the cash flow statement in more depth in intermediate accounting classes,…

  6. 38 CFR 6.14 - Cash value; other than special endowment at age 96 plan policy.

    Science.gov (United States)

    2010-07-01

    ... American Experience Table of Mortality, with interest at the rate of 31/2 percent per annum. The cash value... 38 Pensions, Bonuses, and Veterans' Relief 1 2010-07-01 2010-07-01 false Cash value; other than... DEPARTMENT OF VETERANS AFFAIRS UNITED STATES GOVERNMENT LIFE INSURANCE Cash Value § 6.14 Cash value;...

  7. A study on management of corporate cash in consumer durable sector

    Directory of Open Access Journals (Sweden)

    Somnath Das

    2015-02-01

    Full Text Available Cash plays essential role in modern business and economy and it is the life blood of all businesses. Therefore, cash management is the art of managing a company’s short-term resources for its ongoing activities, mobilizing funds and optimizing liquidity. Inefficient cash management may lead the company to bankruptcy. In this paper, we highlight different perspectives in which we can control the corporate cash including Cash Conversion Cycle, Cash Holding and Creditworthiness. The term Cash Conversion Cycle can be considered as a length of time between purchase of raw-materials and collection of cash from debtors. Cash holding is one of the most important financial decisions that the manager of the concerned organization has to make for the organizations. In this paper, we try to interlink among different items to control cash so that bankruptcy could be prevented and profitability would be improved by investigating on five companies from Consumer Durable sector.

  8. Money Multiplier under Reserve Option Mechanism

    OpenAIRE

    Halit AKTURK; Gocen, Hasan; Duran, Suleyman

    2015-01-01

    This paper introduces a generalized money (M2) multiplier formula to the literature for a monetary system with Reserve Option Mechanism (ROM). Various features of the proposed multiplier are then explored using monthly Turkish data during the decade 2005 to 2015. We report a step increase in the magnitude and a slight upward adjustment in the long-run trend of the multiplier with the adoption of ROM. We provide evidence for substantial change in the seasonal pattern of the multiplier, cash ra...

  9. Cryptanalysis of One Fair E-cash System

    Institute of Scientific and Technical Information of China (English)

    LIU Li-hua; SHEN Hao

    2006-01-01

    The security of Canard-Traore fair e-cash system scheme was believed to depend on the strong-RSA as sumption and the Decision Diffie-Hellman assumption in groups of unknown order. But it is not the case. The ryptanalysis on Canard-Traore fair e-cash system was presented. An algorithm was designed to show that Canard Traore fair e-cash system is insecure: It is forgeability. Further, two drawbacks on Canard-Traore fair e-cash system scheme were pointed out. One is that those integer intervals for si(i= 1,…, 9) are unappropriate. The other is that the datum s3 in signature data is redundant. Moreover, a minute description of the technique to shun the challenge in the scheme was presented. The technique is helpful for designing new group signature schemes in the future.

  10. Cash balance pension plans--accounting and business implications.

    Science.gov (United States)

    Arcady, A; Mellors, F

    2001-01-01

    This article illustrates the accounting and disclosure implications of converting from traditional pensions to cash balance plans. That information is followed by a description of issues that have encouraged employers to initiate those conversions.

  11. CASH-FLOW vs. MARKET-VALUE CDOs

    National Research Council Canada - National Science Library

    SILVIU EDUARD DINCA

    2016-01-01

    .... We will exhibit herewith a comparison between the cash-flow and market-value CDO securitizations as financial markets-based funding, investment and risks mitigation techniques, highlighting certain...

  12. Cash provision for profit: methodological bases of accounting

    OpenAIRE

    Панченко, Інна Анатоліївна

    2015-01-01

    The necessity of forming the cash provision for profit has been considered as well as the suggestions concerning the mechanism of its creation, reflecting in accounting and reporting has been expressed

  13. Social Cash Transfer Scale-up for Zambia

    OpenAIRE

    Stanfield Michelo

    2015-01-01

    What started as an experiment on the desirability and feasibility of a social cash transfer programme in Zambia has now mutated into the national flagship social protection programme. How did this happen?(?)

  14. Trabajadoras asalariadas en el campo murciano

    Directory of Open Access Journals (Sweden)

    Cayetano Espejo Marín

    2003-01-01

    Full Text Available Durante las dos últimas décadas del siglo XX las transformaciones en el campo murciano han generado la necesidad de abundante mano de obra. Esta oportunidad ha sido aprovechada por muchas mujeres para incorporarse al mercado laboral como asalariadas en las explotaciones agrarias que les ofrecen empleo.

  15. A Comparative Evaluation of Cash Flow and Batch Profit Hedging Effectiveness in Commodity Processing

    OpenAIRE

    Dahlgran, Roger A.

    2006-01-01

    Agribusinesses make long-term plant-investment decisions based on discounted cash flow. It is therefore incongruous for an agribusiness firm to use cash flow as a plant-investment criterion and then to completely discard cash flow in favor of batch profits as an operating objective. This paper assumes that cash flow and its stability are important to commodity processors and examines methods for hedging cash flows under continuous processing. Its objectives are (a) to determine how standard h...

  16. The Determinants of Corporate Cash Holdings- An Empirical study from UK Firms

    OpenAIRE

    Guo, Yi

    2013-01-01

    Cash holding is most important financial decision in the company management strategy. In this dissertation, the determinants of corporate cash holdings in UK non-financial publicly traded firms over the period from 2003 to 2012 are investigated. Our study finds that growth opportunities and cash flow and cash flow variability are positively associated with the level of corporate cash holdings, while firm size, leverage, net working capital, bank debt and dividend payment have negative impact ...

  17. Three residual income valuation methods and discounted cash flow valuation

    OpenAIRE

    Fernandez, Pablo

    2003-01-01

    In this paper we show that the three residual Income models for equity valuation always yield the same value as the Discounted Cash Flow Valuation models. We use three residual income measures: Economic Profit, Economic Value Added (EVA) and Cash Value Added. We also show that economic profit and EVA are different, although Copeland, Koller and Murrin (2000, page 55) say that economic profit is a synonym of EVA. Specifically, we first show that the present value of the Economic Profit discoun...

  18. Household determinants of bushmeat and eru (Gnetum africanum) harvesting for cash in the Democratic Republic of Congo

    DEFF Research Database (Denmark)

    Bakkegaard, Riyong Kim; Nielsen, Martin Reinhardt; Thorsen, Bo Jellesmark

    2017-01-01

    products found in the reserve for cash. We analyse the factors determining the choice of engaging in collection of bushmeat and eru (Gnetum africanum) and the factors determining the success (outcome) in collection using the Heckman selection model. This model explicitly separates estimation of selection...... of these activities in providing a pathway out of poverty and stress the needs for better integration of conservation and development policies....

  19. A tax proposal for a cash flow corporate tax

    Directory of Open Access Journals (Sweden)

    Lourdes Jerez Barroso

    2013-12-01

    Full Text Available Purpose: Due to its advantages in terms of neutrality and simplicity, the aim of this paper is to design a tax base for corporation cash flows, as well as to develop its practical implementation.Design/Methodology: The conceptual aspects and the background of tax on corporation tax flows are reviewed and a tax base that levies a charge on the corporation’s economical activities’ cash flow is then proposed. In order to carry this out, a methodological procedure is developed on the basis of the accounting documents that companies must present and through which the stock variables and the accounting documents’ work flow is transformed into cash flow.Findings: An implementation on the basis of the accounting documents that Spanish companies must present. Practical Implications: This paper defines the procedure to follow in order to determine the tax base of a cash flow corporate income tax on the basis of its accounts, which would allow an estimation of this tax figure’s revenue impact.Originality/ Value: The design of a tax base of cash flows for companies. The accounting approximation carried out to determine the cash flows justifies the fact that the tax base proposal is technically possible.

  20. Cash transfers for HIV prevention: considering their potential

    Directory of Open Access Journals (Sweden)

    Lori Heise

    2013-08-01

    Full Text Available Introduction: Cash payments to vulnerable households and/or individuals have increasingly garnered attention as a means to reduce poverty, improve health and achieve other development-related outcomes. Recent evidence from Malawi and Tanzania suggests that cash transfers can impact HIV-related behaviours and outcomes and, therefore, could serve as an important addition to HIV prevention efforts. Discussion: This article reviews the current evidence on cash transfers for HIV prevention and suggests unresolved questions for further research. Gaps include (1 understanding more about the mechanisms and pathways through which cash transfers affect HIV-related outcomes; (2 addressing key operational questions, including the potential feasibility and the costs and benefits of different models of transfers and conditionality; and (3 evaluating and enhancing the wider impacts of cash transfers on health and development. Conclusions: Ongoing and future studies should build on current findings to unpack unresolved questions and to collect additional evidence on the multiple impacts of transfers in different settings. Furthermore, in order to address questions on sustainability, cash transfer programmes need to be integrated with other sectors and programmes that address structural factors such as education and programming to promote gender equality and address HIV.

  1. Cash benefits in long-term home care.

    Science.gov (United States)

    van den Berg, Bernard; Hassink, Wolter H J

    2008-12-01

    This paper tests empirically for differences in prices paid between parts of the cash benefit that clients may and not may keep when it is unspent. In The Netherlands, demand-side subsidies were introduced in 1996. Clients receive a cash benefit to purchase the type of home care (housework, personal care, support with mobility, organisational tasks or social support) they need from the care supplier of their choice (private care provider, regular care agency, commercial care agency or paid informal care provider). Furthermore, they negotiate with the care supplier about price and quantity. Our main findings are the following: (1) the component of the cash benefit that a client may not keep when it is unspent has a positive impact on the price of care. (2) In contrast, the components of the cash benefit a client may keep when it is unspent, have no or a negative impact on the price of care. Both results have important implications for designing health policy. If cash benefits are introduced in long-term home care in an attempt to make consumers more conscious about prices, it is only successful when consumers may keep the unspent part of the cash benefit.

  2. The impact on consumption of more cash in conditional cash transfer programs

    Directory of Open Access Journals (Sweden)

    André Oliveira Ferreira Loureiro

    2013-12-01

    Full Text Available This paper evaluates the impact of an increase in the value of the cash transfer paid to families by the Brazilian Bolsa Família program. The existence of a similar program in the state of Ceará, Bolsa Cidadão, that increases the value received by a sub-group of families, provides a unique dataset, enabling us to evaluate the effect of a higher value of transfer on the spending of comparable households. There is a significant increase in consumption, but it is smaller than the increment in the income, suggesting that the consumption of the households is not properly declared.

  3. Temas de Física para Ingeniería: Campos escalares y vectoriales

    OpenAIRE

    Beléndez Vázquez, Augusto; Bernabeu Pastor, José Guillermo; Pastor Antón, Carlos

    1988-01-01

    Magnitudes, vectores y campos: "Campos escalares y vectoriales". Campo escalar y campo vectorial. Cálculo vectorial infinitesimal: operadores. Representación vectorial de una superficie. Integración de campos vectoriales. Relaciones entre los campos escalares y vectoriales. Clasificación de los campos vectoriales.

  4. Temas de Física para Ingeniería: Campos escalares y vectoriales

    OpenAIRE

    Beléndez,Augusto; Bernabeu, Guillermo; Pastor Antón, Carlos

    1988-01-01

    Magnitudes, vectores y campos: "Campos escalares y vectoriales". Campo escalar y campo vectorial. Cálculo vectorial infinitesimal: operadores. Representación vectorial de una superficie. Integración de campos vectoriales. Relaciones entre los campos escalares y vectoriales. Clasificación de los campos vectoriales.

  5. Individual loss reserving with the Multivariate Skew Normal distribution

    NARCIS (Netherlands)

    Pigeon, M.; Antonio, K.; Denuit, M.

    2012-01-01

    The evaluation of future cash flows and solvency capital recently gained importance in general insurance. To assist in this process, our paper proposes a novel loss reserving model, designed for individual claims in discrete time. We model the occurrence of claims, as well as their reporting delay,

  6. Cash budgeting: an underutilized resource management tool in not-for-profit health care entities.

    Science.gov (United States)

    Hauser, R C; Edwards, D E; Edwards, J T

    1991-01-01

    Cash budgeting is generally considered to be an important part of resource management in all businesses. However, respondents to a survey of not-for-profit health care entities revealed that some 40 percent of the participants do not currently prepare cash budgets. Where budgeting occurred, the cash forecasts covered various time frames, and distribution of the document was inconsistent. Most budgets presented cash receipts and disbursements according to operating, investing, and financing activities--a format consistent with the year-end cash flow statement. By routinely preparing monthly cash budgets, the not-for-profit health care entity can project cash inflow/outflow or position with anticipated cash insufficiencies and surpluses. The budget should be compared each month to actual results to evaluate performance. The magnitude and timing of cash flows is much too critical to be left to chance.

  7. Sobre el concepto de campo en Bourdieu

    Directory of Open Access Journals (Sweden)

    Guillermo Bustamante Zamudio

    2016-01-01

    Full Text Available Con el concepto de tensión, Pierre Bourdieu da la herramienta clave para distinguir el campo de la ciencia y el campo en el que se lucha por la legitimidad de la ciencia (en el seno del mundo de la ciencia. Así mismo, su concepto de presión es clave para entender la relación entre la sociedad y la ciencia, la lucha por la legitimidad de la ciencia en el mundo social (tres autores han desarrollado tales tópicos: Gaston Bachelard, el primero, de orden epistemológico; Bourdieu mismo, el segundo, de orden sociológico; y Jean-François Lyotard, el tercero, de orden político. Sin embargo, Bourdieu oscila entre diferenciar y mezclar, tanto las tensiones de cada uno de los campos mencionados, como la oposición entre tensión y presión. Por otro lado, Bourdieu nos permite pensar algunos de los efectos propios de la presión ejercida sobre la ciencia por los financiadores, la industria, el Estado y el público: la cienciometría, que deja como resto una alodoxia; las asociaciones y las instituciones, que producen como resto una pérdida de dedicación a la investigación que busca conocer; y una vulgarización que deja como resto una descontextualización y una reproducción del sistema dominante. Con el interés de sostener el trabajo de investigación que hacemos, usando, entre otros recursos el concepto de campo, postulado por Pierre Bourdieu, leímos de forma pormenorizada su texto El oficio de científico. Ciencia de la ciencia y reflexividad [2000-1].

  8. Recent innovations in Treasury cash management

    OpenAIRE

    Kenneth D. Garbade; John C. Partlan; Paul J. Santoro

    2004-01-01

    The Treasury Tax and Loan program, a joint undertaking of the Treasury and the Federal Reserve, is designed to manage federal tax receipts and stabilize the supply of reserves in the banking system. Three recent innovations-electronic collection of business taxes, real-time investment of excess Treasury balances, and competitive bidding for Treasury deposits-have materially enhanced the ability of the two agencies to achieve these objectives.

  9. Ovarian reserve

    NARCIS (Netherlands)

    Macklon, NS; Fauser, BCJM

    2005-01-01

    The tendency to delay childbirth has increased the importance of ovarian reserve as a determinant of infertility treatment outcome. In the context of assisted reproduction technology, effective strategies to overcome the impact of ovarian aging and diminished ovarian reserve on pregnancy chances rem

  10. CASH-FLOW SENSITIVITY TO PAYMENTS FOR MATERIAL RESSOURCES

    Directory of Open Access Journals (Sweden)

    Lavinia Elena BRÎNDESCU OLARIU

    2014-12-01

    Full Text Available The financing decision is taken based on the expectations concerning the future cash-flows generated in the operating activity, which should provide coverage for the debt service and allow for an increase of the shareholders’ wealth. Still, the future cash-flows are affected by risk, which makes the sensitivity analysis a very important part of the decision process. The current research sets to evaluate the sensitivity of the payment capacity to variations of the payments for raw materials and consumables. The study employs 391 forecasted yearly cash-flow statements collected from 50 companies together with detailed information concerning the hypotheses of the forecasts. The results of the study allow for the establishment of benchmarks for the payment capacity’s sensitivity, the determination of the mechanisms through which the variation of payments for raw materials and consumables impacts the payment capacity, as well as the identification of the possible causes of such a variation.

  11. Day care schemes and cash for-care at home

    DEFF Research Database (Denmark)

    Rostgaard, Tine

    2012-01-01

    The purpose of this chapter is to analyse and compare Nordic day-care policies, i.e. ECEC services as well as cash-for-care for children under school age. The chapter examines the legislative purpose behind the provision of the services and the cash benefits as well as the take-up rates. The review...... of day-care will also look at how the programmes are organised and funded, and at the quality indicators of the care provided. In this context, the Nordic countries will be compared with the EU average. The review of cash-for-care will assess the key elements of the programmes: the length of time...

  12. Financial Reporting Quality, Free Cash Flow, and Investment Efficiency

    Directory of Open Access Journals (Sweden)

    Wang Fusheng

    2015-01-01

    Full Text Available This paper based on the perspective of firm’s agency conflicts to examine the relationship between financial reporting quality and investment efficiency and to analyze the interaction effect between financial reporting and free cash flow on investment efficiency. We use 3,726 samples of Chinese listed firms during the period 2008–2012 to test the empirical models and find that financial reporting quality is negatively associated with both underinvestment and overinvestment. Further, we find that financial reporting quality is more strongly associated with overinvestment for firms with large free cash flow, which suggests that financial reporting quality can reduce information asymmetry arising from agency conflicts between the managers and investors. This paper extends the field of application of financial reporting quality and investment efficiency in the emerging capital markets in the world. Moreover, this is the first study that analyzes the interaction effect between financial reporting quality and free cash flow on investment efficiency.

  13. Role of cash in conditional cash transfer programmes for child health, growth, and development: an analysis of Mexico's Oportunidades.

    Science.gov (United States)

    Fernald, Lia C H; Gertler, Paul J; Neufeld, Lynnette M

    2008-03-08

    Many governments have implemented conditional cash transfer (CCT) programmes with the goal of improving options for poor families through interventions in health, nutrition, and education. Families enrolled in CCT programmes receive cash in exchange for complying with certain conditions: preventive health requirements and nutrition supplementation, education, and monitoring designed to improve health outcomes and promote positive behaviour change. Our aim was to disaggregate the effects of cash transfer from those of other programme components. In an intervention that began in 1998 in Mexico, low-income communities (n=506) were randomly assigned to be enrolled in a CCT programme (Oportunidades, formerly Progresa) immediately or 18 months later. In 2003, children (n=2449) aged 24-68 months who had been enrolled in the programme their entire lives were assessed for a wide variety of outcomes. We used linear and logistic regression to determine the effect size for each outcome that is associated with a doubling of cash transfers while controlling for a wide range of covariates, including measures of household socioeconomic status. A doubling of cash transfers was associated with higher height-for-age Z score (beta 0.20, 95% CI 0.09-0.30; pOportunidades is associated with better outcomes in child health, growth, and development.

  14. Campo intelectual y campo literario en la Argentina (1970-1986)

    OpenAIRE

    Diego, José Luis de

    2000-01-01

    Se realiza un recorrido en el campo intelectual y el campo literario en la Argentina entre los años 1970-1986. El tema del que se ocupa esta tesis plantea numerosos problemas de índole histórica, teórica y metodológica, de recopilación y manejo de las fuentes y aun ideológica. Para este trabajo se ha elegido un camino que funciona como un axioma de base: es posible, a veinte o treinta años de aquellos sucesos (dictadura, exilio, post-dictadura), situarse en las discusiones de entonces, extrae...

  15. Evidence on the dynamics of investment-cash flow sensitivity

    OpenAIRE

    Gautam, Vikash

    2011-01-01

    An important debate in the literature relates to the use of investment-cash flow sensitivity (ICFS) to measure finance constraint faced by firms. This debate is grounded on four prominent issues: a priori sorting of firms, treatment of distressed firms, use of cash flow to represent only internal liquidity of firms and restricting firms to a single regime. In this paper we investigate these issues using a sample of 2676 Indian manufacturing firms over the period 1994 to 2009. We use firm leve...

  16. Techniques for cash management in scheduling manufacturing operations

    Science.gov (United States)

    Morady Gohareh, Mehdy; Shams Gharneh, Naser; Ghasemy Yaghin, Reza

    2017-10-01

    The objective in traditional scheduling is usually time based. Minimizing the makespan, total flow times, total tardi costs, etc. are instances of these objectives. In manufacturing, processing each job entails a cost paying and price receiving. Thus, the objective should include some notion of managing the flow of cash. We have defined two new objectives: maximization of average and minimum available cash. For single machine scheduling, it is demonstrated that scheduling jobs in decreasing order of profit ratios maximizes the former and improves productivity. Moreover, scheduling jobs in increasing order of costs and breaking ties in decreasing order of prices maximizes the latter and creates protection against financial instability.

  17. Techniques for cash management in scheduling manufacturing operations

    Science.gov (United States)

    Morady Gohareh, Mehdy; Shams Gharneh, Naser; Ghasemy Yaghin, Reza

    2016-10-01

    The objective in traditional scheduling is usually time based. Minimizing the makespan, total flow times, total tardi costs, etc. are instances of these objectives. In manufacturing, processing each job entails a cost paying and price receiving. Thus, the objective should include some notion of managing the flow of cash. We have defined two new objectives: maximization of average and minimum available cash. For single machine scheduling, it is demonstrated that scheduling jobs in decreasing order of profit ratios maximizes the former and improves productivity. Moreover, scheduling jobs in increasing order of costs and breaking ties in decreasing order of prices maximizes the latter and creates protection against financial instability.

  18. Sobre o campo da Psicologia Social

    Directory of Open Access Journals (Sweden)

    Belinda Mandelbaum

    2012-03-01

    Full Text Available O campo da Psicologia Social é apresentado como território fértil, na contemporaneidade, para constituir-se como um laboratório para a produção em Ciências Humanas, uma vez que, no século XX, cada vez mais o social foi em direção ao psicológico. Neste campo, nosso embate dá-se no modo como entendemos o hífen pressuposto na integração psicossocial. A autora propõe que, entre o psicológico e o social, o hífen domina, pois ele é a própria essência relacional que é inerente a cada um dos elementos. Sugere que o modelo para entender o homem e suas circunstâncias proposto por Freud imbrica de forma indissociável o psicológico e o social, a ontogênese e a filogênese, com uma potência que teve impacto sobre todo o campo das Ciências Humanas. A Psicanálise é um instrumento hermenêutico para colaborar na elucidação dos fenômenos sociais. A autora utiliza imagens construídas por Freud e Walter Benjamin e poemas de Carlos Drummond de Andrade para fortalecer o entendimento do hífen psicossocial tanto em sua ação multidimensional quanto em sua organização.

  19. Kontsernisisese cash pooling'u kasutamise võimalikud piirangud / Karl Kull

    Index Scriptorium Estoniae

    Kull, Karl, 1987-

    2011-01-01

    Cash pooling’ust kui finantsjuhtimise ühest alaliigist. Cash pooling’u kasutamise piirangutest: äriseadustiku §-des 159 ja 281 sätestatud laenukeelust ning emaettevõtja kohustuste võimalikust rikkumisest

  20. Kontsernisisese cash pooling'u kasutamise võimalikud piirangud / Karl Kull

    Index Scriptorium Estoniae

    Kull, Karl, 1987-

    2011-01-01

    Cash pooling’ust kui finantsjuhtimise ühest alaliigist. Cash pooling’u kasutamise piirangutest: äriseadustiku §-des 159 ja 281 sätestatud laenukeelust ning emaettevõtja kohustuste võimalikust rikkumisest

  1. Çokuluslu İşletmelerde Merkezi Nakit Yönetimi ve Havuzlama (Central Cash Management of Multinational Businesses and Pooling)

    OpenAIRE

    KABAKÇI, Ali

    2011-01-01

    Cash management can be defined as the optimization of cash flows and investment of excess cash in a corporation. But from an international perspective, cash management becomes very complex because of different laws among countries that pertain to cross-border cash transfers. Besides, the value of cross-border cash transfers is affected by the exchange rate fluctuations. This article is concerned with the optimization of cash flows in a multinational corporation and examines centralized cash m...

  2. Çokuluslu İşletmelerde Merkezi Nakit Yönetimi ve Havuzlama (Central Cash Management of Multinational Businesses and Pooling)

    OpenAIRE

    Ali KABAKÇI

    2011-01-01

    Cash management can be defined as the optimization of cash flows and investment of excess cash in a corporation. But from an international perspective, cash management becomes very complex because of different laws among countries that pertain to cross-border cash transfers. Besides, the value of cross-border cash transfers is affected by the exchange rate fluctuations. This article is concerned with the optimization of cash flows in a multinational corporation and examines centralized cash m...

  3. The analysis of the introduction of cash registers to the business environment and the state budget

    OpenAIRE

    Zubíčková, Aneta

    2009-01-01

    The issue of cash registers has recently been updated in the Czech Republic. Their introduction assumes the elimination of the shadow economy through an increase in reported sales for business entites, who are forced to use it. Regression analysis has not demonstrated a direct effect of the cash registers on the level of reported revenues. Cash registers represent an additional burden on businesses and make conditions for doing a business more difficult. In the year of introduction of cash re...

  4. 24 CFR 572.230 - Cash and Management Information (C/MI) System.

    Science.gov (United States)

    2010-04-01

    ... HOMES PROGRAM (HOPE 3) Grants § 572.230 Cash and Management Information (C/MI) System. Disbursement of HOPE 3 grant funds is managed through HUD's Cash and Management Information (C/MI) System for the HOPE... 24 Housing and Urban Development 3 2010-04-01 2010-04-01 false Cash and Management Information...

  5. 19 CFR 4.23 - Certificate of payment and cash receipt.

    Science.gov (United States)

    2010-04-01

    ... 19 Customs Duties 1 2010-04-01 2010-04-01 false Certificate of payment and cash receipt. 4.23... Certificate of payment and cash receipt. Upon each payment of tonnage tax or light money, the master of the vessel shall be given a certificate on Customs Form 1002 on which the control number of the cash...

  6. Paying Students to Learn: An Ethical Analysis of Cash for Grades Programmes

    Science.gov (United States)

    Warnick, Bryan R.

    2017-01-01

    A growing number of schools have begun experimenting with giving students cash rewards to improve academic performance. This practice has come to be known as "cash-for-grades." In this article, I examine some of the philosophical and ethical questions involved with cash-for-grades programmes, rather than focusing on whether such…

  7. 31 CFR 206.10 - Operation of and payments from the Cash Management Improvements Fund.

    Science.gov (United States)

    2010-07-01

    ... SERVICE MANAGEMENT OF FEDERAL AGENCY RECEIPTS, DISBURSEMENTS, AND OPERATION OF THE CASH MANAGEMENT IMPROVEMENTS FUND § 206.10 Operation of and payments from the Cash Management Improvements Fund. (a) The Cash... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Operation of and payments from...

  8. 20 CFR 416.261 - What are special SSI cash benefits and when are they payable.

    Science.gov (United States)

    2010-04-01

    ... 20 Employees' Benefits 2 2010-04-01 2010-04-01 false What are special SSI cash benefits and when... Work Despite A Disabling Impairment § 416.261 What are special SSI cash benefits and when are they payable. Special SSI cash benefits are benefits that we may pay you in lieu of regular SSI benefits...

  9. 20 CFR 416.262 - Eligibility requirements for special SSI cash benefits.

    Science.gov (United States)

    2010-04-01

    ... 20 Employees' Benefits 2 2010-04-01 2010-04-01 false Eligibility requirements for special SSI cash... Disabling Impairment § 416.262 Eligibility requirements for special SSI cash benefits. You are eligible for special SSI cash benefits if you meet the following requirements— (a) You were eligible to receive a...

  10. 76 FR 67105 - Cash Balance Plans; Benefit Determinations and Plan Valuations for Statutory Hybrid Plans...

    Science.gov (United States)

    2011-10-31

    ... would apply to all statutory hybrid plans. If a cash balance plan uses a fixed interest rate as of the..., however, when a cash balance plan uses a variable interest rate--e.g., a rate that changes annually under... CORPORATION 29 CFR Parts 4001, 4022, 4041, and 4044 RIN 1212-AB17 Cash Balance Plans; Benefit...

  11. Campo de velocidade peculiar na teoria linear

    Science.gov (United States)

    Pires, N.

    2003-08-01

    Aglomerados e superaglomerados de galáxias são responsáveis pela chamada velocidade peculiar (movimentos relativos à expansão pura do universo) das galáxias. A amplitude destas perturbações depende da densidade de matéria do universo e do contraste de densidade no interior do volume onde está localizada a galáxia. Em 1980, Peebles introduziu o fator "f", que relaciona a amplitude das perturbações da velocidade com o campo gravitacional peculiar, no contexto da teoria linear. No presente trabalho obtemos uma solução geral analítica para o fator "f" de Peebles do campo de velocidades peculiares, em termos de funções hipergeométricas, válida para qualquer geometria do universo. Como um teste de nossa solução, os resultados encontrados originalmente por Peebles em 1980 e os resultados mais gerais encontrados por O. Lahav e colaboradores em 1991, são reobtidos.

  12. Migraciones campo-ciudad en el Magreb

    Directory of Open Access Journals (Sweden)

    Gloria Inés Ospina

    2013-01-01

    Full Text Available El movimiento de población del campo a la ciudad ha sido considerado uno de los factores que inducen desequilibrios regionales en todos los países donde se ha producido. El mundo cada vez es más urbano y ello conlleva que las actividades de la ciudad atraigan a gran número de población, que indefectiblemente proceden de las zonas rurales. En el caso que nos ocupa, el fenómeno de éxodo rural se ha visto como un desafío para todas las reformas que los países del Magreb central, Marruecos, Argelia y Túnez, han ido realizando a lo largo de su corta vida independiente. El artículo expone los resultados poco esperanzadores que se han obtenido con las reformas que se han ido introduciendo, pues los flujos de migración campo-ciudad continúan y continuarán.

  13. Conditional Cash Transfer against Child Labor: Indonesia Program Keluarga Harapan

    Science.gov (United States)

    Lee, Kye Woo; Hwang, Miae

    2016-01-01

    This study aims to analyze whether subsidies provided by the Indonesian conditional cash transfer against child labor program (Program Keluarga Harapan: PKH) were sufficient for children to stop working and go back to schooling. Ex-post evaluations of the program found that it did not improve children's enrollment rate and reduce child labor…

  14. Something for Nothing: Cash Flow as a Contract Incentive

    Science.gov (United States)

    2016-03-01

    Defense AT&L: March-April 2016 16 Something for Nothing “Cash Flow” as a Contract Incentive John Pritchard n John Krieger Pritchard and...negligible resources are required to implement the incentive, this is the closest the government ever will come to getting something for nothing . The

  15. Conditional Cash Transfer against Child Labor: Indonesia Program Keluarga Harapan

    Science.gov (United States)

    Lee, Kye Woo; Hwang, Miae

    2016-01-01

    This study aims to analyze whether subsidies provided by the Indonesian conditional cash transfer against child labor program (Program Keluarga Harapan: PKH) were sufficient for children to stop working and go back to schooling. Ex-post evaluations of the program found that it did not improve children's enrollment rate and reduce child labor…

  16. 20/30 Hindsight: cash management in local banks

    NARCIS (Netherlands)

    Peffer, Ron A.; Telgen, Jan

    1986-01-01

    Who would ever expect that a bank would complain about the number of calculations required to do anything, let alone cut down costs? Mr. Peffer and Dr. Telgen describe their experiences in implementing a cash management system for use by independent local banks; when they got that response—perhaps

  17. Use and Impact of a Cash Subsidy Program.

    Science.gov (United States)

    Herman, Sandra E.

    1991-01-01

    The use and impact of a $256 monthly cash subsidy by 1,283 Michigan families with children with severe disabilities were examined. Families reported such uses as the purchase of clothing, toys, sitters, special foods, adaptive equipment, and professional services. Families indicated that the subsidy had improved family life, eased financial…

  18. Investment, cash flow, and uncertainty : evidence for the Netherlands

    NARCIS (Netherlands)

    Sterken, Elmer; Lensink, Robert; Bo, Hong

    2001-01-01

    Abstract We contribute to the debate on the interpretation of investment-cash flow sensitivities by including uncertainty measures in both a simple theoretical investment model and an empirical illustration for Dutch firm-level data. Using a slightly modified version of the Kaplan-Zingales (1997) mo

  19. An Experiment of Student Understanding of Accruals versus Cash Flows

    Science.gov (United States)

    Miranda-Lopez, Jose Eduardo; Nichols, Linda M.

    2007-01-01

    The concepts of both accrual accounting and cash basis accounting need to be thoroughly understood by accounting graduates as they enter the workplace. In making decisions, both managers and investors often may need to make adjustments from one basis to the other. But do students really understand these concepts? This study uses an experimental…

  20. Using cash cover crops to provide pollinator provisions

    Science.gov (United States)

    To date, the use of winter cover crops in MN and SD has been slow to be adopted. The short growing season and potential for late wet springs make cover crops risky to farmers with little economic return. The use of cash cover crops in this area offers the standard advantages of other cover crops, wi...

  1. Cash dividends and futures prices on discontinuous filtrations

    NARCIS (Netherlands)

    Vellekoop, M.H.; Nieuwenhuis, J.W.

    2007-01-01

    We derive a general formula for the futures price process without the restriction that the assets used in the future margin account are continuous and of finite variation. To do so, we model tradeable securities with dividends which are not necessarily cash dividends at fixed times or continuously p

  2. Ju/'h0ansi Adaptations to a Cash Economy

    African Journals Online (AJOL)

    societies, and while cash is certainly sharable, traditional norms for resource .... also taking some new forms in modern life: for example demand sharing of .... Namibians (mostly of Bantu ethnicities) have come to Tsumkwe to take advan- .... non-Ju/'hoansi management and patronage, and demonstrates the tension between ...

  3. Cash dividends and futures prices on discontinuous filtrations

    NARCIS (Netherlands)

    Vellekoop, M.H.; Nieuwenhuis, J.W.

    We derive a general formula for the futures price process without the restriction that the assets used in the future margin account are continuous and of finite variation. To do so, we model tradeable securities with dividends which are not necessarily cash dividends at fixed times or continuously

  4. The Cash Flow as Financial Management Tool For Small Businesses

    Directory of Open Access Journals (Sweden)

    Osmar Siena

    2015-06-01

    Full Text Available This study is engaged on the axis of Financial Management, with research into the factors controlling corporation in small business finance. It has as main objective to analyze the cash flow tool as a tool for financial management and specific process to describe the use of the Cash Flow tool objectives; analyze the feasibility of implementing the Cash Flow tool as an instrument of financial management and suggest proposals for suitability for deployment of Cash Flows as a financial management system. Facing these objectives the research uses the precedence of qualitative methodology and applies the instruments on-site visit, interview and questionnaire to collect data. Descriptive analysis that confront the theoretical basis and the data obtained from research is used. With the completion of the analysis the following results were achieved: description of business processes researched; identifying the needs and forms of control currently used and presentation of improvement measures for the adjustment of non-conformities identified. The study contributes to both the academic improvement by analyzing the real situation of the company, as well as it serves as a recommendation to companies embracing similar difficulties in financial management.

  5. 18 CFR 367.1360 - Account 136, Temporary cash investments.

    Science.gov (United States)

    2010-04-01

    ... GAS ACT Balance Sheet Chart of Accounts Current and Accrued Assets § 367.1360 Account 136, Temporary... cash investments. 367.1360 Section 367.1360 Conservation of Power and Water Resources FEDERAL ENERGY REGULATORY COMMISSION, DEPARTMENT OF ENERGY REGULATIONS UNDER THE PUBLIC UTILITY HOLDING COMPANY ACT OF...

  6. 45 CFR 400.52 - Emergency cash assistance to refugees.

    Science.gov (United States)

    2010-10-01

    ... 45 Public Welfare 2 2010-10-01 2010-10-01 false Emergency cash assistance to refugees. 400.52 Section 400.52 Public Welfare Regulations Relating to Public Welfare OFFICE OF REFUGEE RESETTLEMENT, ADMINISTRATION FOR CHILDREN AND FAMILIES, DEPARTMENT OF HEALTH AND HUMAN SERVICES REFUGEE RESETTLEMENT...

  7. 31 CFR 321.7 - Authorized cash payments.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Authorized cash payments. 321.7 Section 321.7 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL... authorized or empowered to act for a corporate legal representative so designated. The full title of the...

  8. 47 CFR 32.1120 - Cash and equivalents.

    Science.gov (United States)

    2010-10-01

    ... hands of financial officers and agents, deposited in banks or other financial institutions and also...) This account shall include the cost of current securities acquired for the purpose of temporarily investing cash, such as time drafts receivable and time loans, bankers' acceptances, United States Treasury...

  9. Unanswered Quibbles with Fractional Reserve Free Banking

    Directory of Open Access Journals (Sweden)

    Philipp Bagus

    2011-07-01

    Full Text Available In this article we reply to George Selgin’s counterarguments to our article “Fractional Reserve Free Banking: Some Quibbles”. Selgin regards holding cash as saving while we focus on the real savings necessary to maintain investment projects. Real savings are unconsumed real income. Variations in real savings are not necessarily equal to variations in cash holdings. We show that a coordinated credit expansion in a fractional reserve free banking (FRFB system is possible and that precautionary reserves consequently do not pose a necessary limit. We discuss various instances in which a FRFB system may expand credit without a prior increase in real savings. These facets all demonstrate why a fractional reserve banking system – even a free banking one – is inherently unstable, and incentivized to impose a stabilizing central bank. We find that at the root of our disagreements with Selgin lies a different approach to monetary theory. Selgin subscribes to the aggregative equation of exchange, which impedes him from seeing the microeconomic problems that the stabilization of “MV” by a FRFB system causes.

  10. Educação do campo: demanda dos trabalhadores

    OpenAIRE

    Vania Cristina Pauluk de Jesus

    2006-01-01

    Neste texto pretendemos discutir que especificidades precisa possuir a escola do campo neste mundo neoliberal, identificar as demandas educacionais dos sujeitos do campo e analisar as propostas para educação do campo dos movimentos sociais e Estado. Esta pesquisa é de abordagem qualitativa e, utilizamos como principais instrumentos de coleta de dados a análise documental e entrevistas estruturadas abertas. Para atingir nossos objetivos caracterizamos e discutimos a proposta edu...

  11. Dividend Maximization when Cash Reserves Follow a Jump-diffusion Process

    Institute of Scientific and Technical Information of China (English)

    LI LI-LI; FENG JIN-GHAI; SONG LI-XIN

    2009-01-01

    This paper deals with the dividend optimization problem for an insur-ance company, whose surplus follows a jump-diffusion process. The objective of the company is to maximize the expected total discounted dividends paid out until the time of ruin. Under concavity assumption on the optimal value function, the paper states some general properties and, in particular, smoothness results on the optimal value function, whose analysis mainly relies on viscosity solutions of the associated Hamilton-Jacobi-Bellman (HJB) equations. Based on these properties, the explicit expression of the optimal value function is obtained. And some numerical calculations are presented as the application of the results.

  12. The Use of Cash-Flow Statement for Decision-Making

    OpenAIRE

    Georgescu Cristina Elena; Asalos Nicoleta

    2010-01-01

    The Cash-flow statement provide an important ingredient of decision-making due to the company’s financial stability and viability. The succes and survival of every organisation depends on its ability to generate an aquire cash. Cash flow is a concept that we all understatnd. Companies survive because they have cash, they fail when they don’t. We must therefore be interested in a company’s ability to generate cash for itself, and to acquire it from other sources. This can be clearly seen in ca...

  13. Effectiveness of a conditional cash transfer programme on TB cure rate: a retrospective cohort study in Brazil.

    Science.gov (United States)

    Torrens, Ana W; Rasella, Davide; Boccia, Delia; Maciel, Ethel L N; Nery, Joilda S; Olson, Zachary D; Barreira, Draurio C N; Sanchez, Mauro N

    2016-03-01

    Despite the efforts of the National Tuberculosis Programme, TB cure rates in Brazil are sub-optimal. The End TB Strategy for post-2015 identifies conditional cash transfer interventions as powerful tools to improve TB control indicators, including TB cure rate. This study aims to inform the new policy by evaluating the role of the Bolsa Familia Programme (BFP), one of the largest conditional cash transfer programmes in the world, on TB cure rates in Brazil. We undertook a retrospective cohort study, based on an unprecedented record linkage of socioeconomic and health data, to compare cases of patients newly diagnosed with TB in 2010 receiving BFP cash benefits (n=5788) with those who did not (n=1467) during TB treatment. We used Poisson regression with robust variance to estimate the relative risks for TB cure adjusted for known confounders. The cure rate among patients exposed to BFP during TB treatment was 82.1% (4752/5788), 5.2% higher than among those not exposed. This was confirmed after controlling for TB type, diabetes mellitus, HIV status and other relevant clinical and socioeconomic covariates (RR=1.07, 95% CI 1.04 to 1.11 for cure rates among BFP beneficiaries). This association seemed higher for patients not under directly observed treatment (RR=1.11; 95% CI 1.05 to 1.16). Although further research is needed, this study suggests that conditional cash transfer programmes can contribute to improve TB cure rate in Brazil. © The Author 2016. Published by Oxford University Press on behalf of Royal Society of Tropical Medicine and Hygiene. All rights reserved. For permissions, please e-mail: journals.permissions@oup.com.

  14. Elogio da Loucura por Campos de Carvalho

    Directory of Open Access Journals (Sweden)

    Luisa Buarque

    2011-08-01

    Full Text Available Em 1972, o autor Campos de Carvalho publica uma série de crônicas no Pasquim, reunidas e lançadas em um pequeno livro, trinta anos mais tarde. Em uma delas, apresenta-se uma espécie de dialética da loucura e da normalidade que, de alguma forma, pode ser aproximada de certas ideias contidas tanto em O Mito de Sísifo, de Camus, quanto em O Nascimento da Tragédia, de Nietzsche. O presente artigo propõe uma interpretação dessa crônica literária, sob a luz das referidas filosofias.

  15. Desagrarización del campo chiapaneco

    Directory of Open Access Journals (Sweden)

    Julieta Martínez Cuero

    2011-06-01

    Full Text Available En este trabajo se analizan las transformaciones del campo chiapaneco a nivel regional. El propósito es evaluar las tesis de una nueva ruralidad y heterogeneidad estructural en el sector rural del estado. Para ello, en primer lugar se describen las condiciones estructurales del sector agrario en la entidad, partiendo de: las condiciones ecológicas y geográficas, el tipo de tenencia de la tierra y la composición poblacional dedicada a la producción agrícola. En segundo lugar, se recogen elementos clave que explican el proceso de desagrarización en cada una de las regiones de análisis, considerando el impacto de las políticas de apertura económica sobre el sector y el agotamiento de la frontera agrícola.

  16. Factors Affecting Corporate Cash Holding of Non-Financial Firms in Pakistan

    Directory of Open Access Journals (Sweden)

    Atif Kafayat

    2014-06-01

    Full Text Available The previous researches explore the question of why firms hold cash. But there are few researches done in developing countries like Pakistan. The need for cash is characterized by its policies of firms regarding capital structure, working capital requirements, cash flow management, dividend payments, and asset management. In this paper, the impact of these factors is normally analyzed under the framework of Tradeoff theory, Pecking Order Theory and Free Cash Flow Theory. This paper focuses on determining the level of corporate cash holdings of non-financial Pakistani firms, and cash holding requirement among different industries. The data is set for period of 2008- 2012 by using the data of 40companies and 6 industries. The findings of the study support the theories. Which show that firm size, net working capital, leverage, Capital Expenditure and Dividend significantly affect the cash holdings of non-financial firms in Pakistan.

  17. An investigation on how to estimate future cash flows: Evidence from Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Roghayeh Ahmdi Panah Banad Koki

    2014-03-01

    Full Text Available This paper presents an empirical investigation to predict future cash flows using present cash flow and accruals using the information of 96 selected firms listed on Tehran Stock Exchange over the period 2007-2011. The proposed study uses linear regression techniques to forecast future cash flow and the results indicate that cash flow and accruals together could provide more power to forecast cash flow. In addition, accrual provides future cash flow better than cash flow. The survey also performs an investigation on discretionary accrual and finds that the firms with higher accruals maintain lower return compared with firms with lower return. This means there is a clear evidence of discretionary accruals on Tehran Stock Exchange.

  18. Does EVA performance evaluation improve the value of cash holdings? Evidence from China

    Institute of Scientific and Technical Information of China (English)

    Yongjian; Shen; Lei; Zou; Donghua; Chen

    2015-01-01

    This paper investigates the influence of the economic value added(EVA)performance evaluation,issued in 2010 by the State-owned Assets Supervision and Administration Commission of the State Council,on the value of the cash holdings of central state-owned enterprises(CSOEs).We find that EVA performance evaluation has some influence on the overinvestment of CSOE cash holdings and significantly increases the value of CSOE cash holdings compared with the cash holdings of local state-owned enterprises.The greater value of CSOE cash holdings derives from underinvestment modification and overinvestment restraint.The value of cash holdings increases more for companies with better accounting performance.Thus,the EVA performance evaluation policy increases CSOE efficiency.This study contributes to the emerging literature related to cash holdings and the economic consequences of the EVA performance evaluation policy.It expands the literature related to investor protection in countries experiencing economic transition.

  19. Does EVA performance evaluation improve the value of cash holdings? Evidence from China

    Directory of Open Access Journals (Sweden)

    Yongjian Shen

    2015-09-01

    Full Text Available This paper investigates the influence of the economic value added (EVA performance evaluation, issued in 2010 by the State-owned Assets Supervision and Administration Commission of the State Council, on the value of the cash holdings of central state-owned enterprises (CSOEs. We find that EVA performance evaluation has some influence on the overinvestment of CSOE cash holdings and significantly increases the value of CSOE cash holdings compared with the cash holdings of local state-owned enterprises. The greater value of CSOE cash holdings derives from underinvestment modification and overinvestment restraint. The value of cash holdings increases more for companies with better accounting performance. Thus, the EVA performance evaluation policy increases CSOE efficiency. This study contributes to the emerging literature related to cash holdings and the economic consequences of the EVA performance evaluation policy. It expands the literature related to investor protection in countries experiencing economic transition.

  20. STUDY ON INCREASING THE SHARE CAPITAL BY NEW CONTRIBUTIONS IN CASH AND IN KIND

    Directory of Open Access Journals (Sweden)

    CARUNTU GENU ALEXANDRU

    2016-06-01

    Full Text Available Selecting the means, techniques and financing tools is the correct expression of a financial policy placement. Essentially, the financial policy consists in determining the weight that equity and borrowed capitals have and must have into the company resources, taking into account their actual cost. It is envisaged the high share of capital in total equity, which represents long term resources in company’s activity and which knows more ways to move over time. The share capital is equal to the nominal value of inscriptions or shares, respectively the value of the contribution in kind or in cash mentioned in the memorandum. Over the life of the company's existence, the share capital may increase by new contributions, by incorporation of reserves and by debt conversion of the company, respectively of the claims that creditors have on it

  1. La familia como campo de saber de las ciencias sociales

    Directory of Open Access Journals (Sweden)

    Yolanda López

    2003-01-01

    Full Text Available Como categoría socio-cultural y como campo de conflictos, la familia constituye un objeto de investigación e intervención de diferentes disciplinas. Si bien cada campo de saber define con respecto a la familia su objeto de estudio, la comprensión de la co

  2. CASH AND LIQUIDITY/LIQUIDITY AND LIQUIDITY RATIO

    Directory of Open Access Journals (Sweden)

    BEATRIX LIGHEZAN BREUER

    2012-12-01

    Full Text Available The present paper aims to present the correlation as well as the differences between liquidity/cash and liquidity ratio in terms of economic entities. Researches on this topic are based on the opinions of some specialists in accounting and in the economic-financial analysis, as well as on the national legal stipulations and the ones set out in the International Accounting Standards, the Financial report, respectively. The object of this paper is represented by the correlation between liquidity/cash and liquidity ratios representing the liquidity as current assets, assets implied in the determination of liquidity ratios. The end of the paper consists of the conclusions drawn from the issues presented in the paper but also our views on this research topic.

  3. The evolution of a global cash management system

    OpenAIRE

    Holland, CP; Lockett, G; Richard, JM; Blackman, ID

    1994-01-01

    Some companies are implementing interorganizational information systems (IOSs) with trading partners that allow them to share data and software across organizational boundaries. The authors explore the effect of IOSs on cash management from a managerial perspective and present a case study of Motorola and Citibank. Motorola’s strategy has evolved from an internal cost saving initiative to a supply chain focus yielding significant strategic benefits. Cooperation between Motorola, its suppliers...

  4. Ranking of States and Commodities by Cash Receipts, 1992

    OpenAIRE

    Strickland, Roger P.; Steele, Cheryl J.; Williams, Robert P.

    1993-01-01

    This publication presents two types of ranking information derived from the U.S. Department of Agriculture's cash receipts statistics for the marketing of agricultural commodities within States. One type is the 25 leading commodities for each State and the Nation, ranked according to the estimated value of receipts. The second is the ranking of States by receipts from each of the 25 leading U.S. commodities and by several major commodity groups. The ranking of commodities produced in a State ...

  5. Contingency Management for Cocaine Treatment: Cash vs. Vouchers

    Science.gov (United States)

    Festinger, David S.; Dugosh, Karen L.; Kirby, Kimberly C.; Seymour, Brittany L.

    2014-01-01

    The efficacy of contingency management (CM) for treating drug abuse is well supported. The most widely used form of CM is voucher-based reinforcement therapy (VBRT), where clients receive an escalating schedule of vouchers that can be redeemed for goods and services for meeting treatment goals. Though generally rejected due to concerns about potential harms to drug using participants, research suggests that cash may be a more effective reinforcer. This three-group randomized trial compared the efficacy of cash-based reinforcement therapy (CBRT) to VBRT and a non-CM condition on cocaine abstinence and treatment attendance; and examined whether CBRT resulted in greater levels of harm than VBRT. Findings indicated that the CBRT was as effective as VBRT when compared to the non-CM condition and that it did not increase rates of drug use, cravings, or high-risk behaviors. Future research should examine potential cost savings associated with a cash-based CM approach as this could have important implications for the wider adoption of the CM model. PMID:24746956

  6. Conditional Cash Transfers and HIV/AIDS Prevention: Unconditionally Promising?

    Science.gov (United States)

    Kohler, Hans-Peter; Thornton, Rebecca

    2012-06-01

    Conditional cash transfers (CCT) have recently received considerable attention as a potentially innovative and effective approach to the prevention of HIV/AIDS. We evaluate a conditional cash transfer program in rural Malawi which offered financial incentives to men and women to maintain their HIV status for approximately one year. The amounts of the reward ranged from zero to approximately 3-4 months wage. We find no effect of the offered incentives on HIV status or on reported sexual behavior. However, shortly after receiving the reward, men who received the cash transfer were 9 percentage points more likely and women were 6.7 percentage points less likely to engage in risky sex. Our analyses therefore question the "unconditional effectiveness" of CCT program for HIV prevention: CCT Programs that aim to motivate safe sexual behavior in Africa should take into account that money given in the present may have much stronger effects than rewards offered in the future, and any effect of these programs may be fairly sensitive to the specific design of the program, the local and/or cultural context, and the degree of agency an individual has with respect to sexual behaviors.

  7. Contingency management for cocaine treatment: cash vs. vouchers.

    Science.gov (United States)

    Festinger, David S; Dugosh, Karen L; Kirby, Kimberly C; Seymour, Brittany L

    2014-08-01

    The efficacy of contingency management (CM) for treating drug abuse is well supported. The most widely used form of CM is voucher-based reinforcement therapy (VBRT), where clients receive an escalating schedule of vouchers that can be redeemed for goods and services for meeting treatment goals. Though generally rejected due to concerns about potential harms to drug using participants, research suggests that cash may be a more effective reinforcer. This three-group randomized trial compared the efficacy of cash-based reinforcement therapy (CBRT) to VBRT and a non-CM condition on cocaine abstinence and treatment attendance; and examined whether CBRT resulted in greater levels of harm than VBRT. Findings indicated that the CBRT was as effective as VBRT when compared to the non-CM condition and that it did not increase rates of drug use, cravings, or high-risk behaviors. Future research should examine potential cost savings associated with a cash-based CM approach as this could have important implications for the wider adoption of the CM model.

  8. Managing the Cash and Liquidity of the Croatian Budget

    Directory of Open Access Journals (Sweden)

    Anto Bajo

    2005-06-01

    Full Text Available The principal proposition this paper will endeavour to maintain is that the liquidity of the budget is not fully managed by the Ministry of Finance, which is why it is unable, in collaboration with the Croatian National Bank, to rein in and slow down the growth in short-term public debt. Only since 2001, thanks to institutional improvements, have the conditions been created in the Ministry of Finance for cash and liquidity management. Thus payments operations, previously in the hands of a government institution, were taken over by the banks; the financial operations of budgetary spending agencies were channelled via the Single Account of the Treasury; and government deposits were gradually transferred from numerous commercial banks to the Single Account of the Treasury in the Croatian National Bank and the state-owned Croatian Postal Bank. Unfortunately, however, the Ministry of Finance, in collaboration with the Croatian National Bank, still carries out no operation of cash and liquidity management within the government Treasury system, nor does it operate on the money market with its surplus budgetary resources. Because of this state of affairs, management of the cash and liquidity of the central government budget is within the purview of the commercial banks.

  9. DETERMINANTS OF CASH WAQF CONTRIBUTION IN KLANG VALLEY AND SELANGOR: A SEM APPROACH

    Directory of Open Access Journals (Sweden)

    Muhammad Rizky Prima Sakti

    2016-08-01

    Full Text Available Cash waqf is becoming one of the popular Islamic financial instruments which not only focus on the religiosity but also has significant impact to the ummah development. This waqf scheme does not require richness in wealth, yet everybody in the society can contribute to cash waqf. The importance of cash waqf is getting popular as it has benefited in many ways, for example it can be used to develop assets and abandoned land for business and agricultural purposes. In addition, cash waqf also can be utilized to help institutions who are facing financial problem or liquidity issues. Nonetheless, rarely we found in the literature that empirically examines the cash waqf determinants and contributions. This paper is one of the few empirical studies that investigate the determinants towards the contribution of cash waqf in Malaysia. The purpose of this paper is to investigate the main factors that influence people towards the contribution of cash waqf instruments, special reference to the Klang Valley and Selangor. This paper employs structural equation modeling (SEM to verify the determinants of cash waqf contribution. In doing so, we use primary data by distributing self-administrated questionnaire constituting a sample of 114 respondents from Klang Valley and Selangor. Our empirical results reveal that the main factors that driven people towards the contribution of cash waqf products are attitude and social influences, however interestingly religion obligation is not influence the contribution of cash waqf.

  10. A Study on the Relationship of Earnings and Cash Flows: Evidence of Finance Sector in Iran

    Directory of Open Access Journals (Sweden)

    Mahdi Salehi

    2013-08-01

    Full Text Available The present study is investigating the quality of annual accounting earnings in banking firms that have been listed in Tehran Stock Exchange (TSE and it evaluates the most important information of accounting that is earnings and cash flows. The study also intends to investigate the relationship between earnings and cash flows regarding their relationship with the expected return of stocks and the extent of informing in the analysis of the inevitable return of stocks. The analyses of data during 6 years revealed that the earnings in comparison to the cash flows are very important as they have positive effects on the stock. Moreover, in the case of the relations of earnings and earnings changes with the expected return of stocks and the relation of cash flows and cash flow changes with the expected return of stock, it was found that there is only a meaningful relationship between earning changes and the expected return of stock in banking groups. However, there is no meaningful relationship between earning and cash flows with the expected return of stock. The result was that the informational content test didn’t support the value relation of earning and cash flows. Furthermore, the classifying of information through banking group indicated that the changes of earning was in the first rank and next were earning, the changes of cash flow and cash flows.Keywords: Earnings; Cash flows; expected return; Value relevance; Banking risks

  11. Cash Management, Revenue Sources and Cost Effective Methods of Revenue Collection at Local Government Level

    Directory of Open Access Journals (Sweden)

    Mustapha Gimba Kumshe

    2013-04-01

    Full Text Available The main objective of this paper was to focus on the elements, objectives, goals and importance of cash management; and also to examine the sources of revenue and cost effective collections for local governments. The elements of cash management are identified as establishing bank relations, preparing cash flow statements, estimating collection receipts and analyzing cash flow and preparing a budget. Amongst the objectives of cash management is to ensure availability of cash resources at all times for efficient and unconstrained implementation of the annual budget. The primary goals of a good cash management system are to maintain adequate cash at hand to meet the daily cash requirements of the local government while maximizing the amount available for investment and to obtain the maximum earnings on invested funds while ensuring their safety. The local governments obtain their revenue through internal and external sources, the external sources of revenue includes federal statutory allocations and loans obtained from financial institutions and other agencies; while among the internal sources are revenue from market fees, fees collected from motor parks, street hawking fees, shop fees and other miscellaneous sources. Some of the cost effective methods of revenue collections are contracting out of revenue collections to private collection agency, designating collection points for convenience, application of e-collection method where the local governments device a means of allowing tax payers to pay their taxes online. It is recommended that proper management of funds, efficient accounting and auditing system is necessary for proper cash management.

  12. Petrographical properties of shales from Campos Basin

    Energy Technology Data Exchange (ETDEWEB)

    Rabe, Claudio; Araujo, Ewerton M.P.; Fontoura, Sergio A.B. da [Pontificia Univ. Catolica do Rio de Janeiro, RJ (Brazil). Dept. de Engenharia Civil. Grupo de Tecnologia e Engenharia de Petroleo (GTEP)

    2004-07-01

    This paper presents a petrographical characterization of shales from Albacora, Marlim and Marlim Sul fields (offshore Campos Basin, Brazil). The characterization program included petrography analysis of thin section of undisturbed shale samples, scanning electron microscope (SEM) images and energy dispersive spectrometry (EDS) analysis. The tests were realized with the purpose of obtaining information to observe the nature of the rock microstructure. From the results presented herein, the shales can be described as silty and calciferous. The description of the thin sections indicated that all the shale samples are very similar from the compositional and textural point of view. The samples are rich in clay minerals, that show small size grains and seem homogeneous, and carbonatic cement. The samples are constituted by calcite, quartz, kaolinite, smecite, illite, illite/smectite, kaolinite/illite/smectite, feldspar, plagioclase, dolomite, chlorite and pyrite. The samples showed a great amount of calcium, resultant from the microfossils, that covers partially the clay minerals. Pyrite is also observed as small grains disperse throughout the sample with form of agglomerated pyrite framboids, cubo-octahedral and octahedral crystals. The EDS show the presence of picks of Si, Al, Mg, K and Na particles, indicating the presence of clay minerals, calcite, pyrite and chlorite. (author)

  13. Çokuluslu İşletmelerde Merkezi Nakit Yönetimi ve Havuzlama (Central Cash Management of Multinational Businesses and Pooling

    Directory of Open Access Journals (Sweden)

    Ali KABAKÇI

    2011-01-01

    Full Text Available Cash management can be defined as the optimization of cash flows and investment of excess cash in a corporation. But from an international perspective, cash management becomes very complex because of different laws among countries that pertain to cross-border cash transfers. Besides, the value of cross-border cash transfers is affected by the exchange rate fluctuations. This article is concerned with the optimization of cash flows in a multinational corporation and examines centralized cash management approach and pooling technique in order to optimize the parent-subsidiary and inter-subsidiary cash flows.

  14. Does money work? Cash transfers to ex-combatants in disarmament, demobilisation and reintegration processes.

    Science.gov (United States)

    Willibald, Sigrid

    2006-09-01

    This paper analyses the relevance and potential of cash transfers as part of the disarmament, demobilisation and reintegration (DDR) assistance packages provided to ex-combatants in transitions from war to peace. To this end, a theoretical framework is established that permits the identification of the advantages and disadvantages of using cash in DDR. Subsequently, an empirical analysis is carried out to compare selected theoretical assumptions on the use of cash with the reality of lessons learned from recent experience in Sierra Leone and other African countries. The study shows that some theoretical drawbacks commonly associated with the use of cash in DDR processes may indeed bear out in practice. At the same time, though, the paper argues that the utility of cash transfers in DDR is affected by a variety of factors that go far beyond the simple choice of employing cash, most notably decisions on payment location, eligibility criteria and targeting.

  15. A study on relationship between market share and cash flow policy

    Directory of Open Access Journals (Sweden)

    Somayeh Sadeghi Moghaddam

    2014-09-01

    Full Text Available This paper presents an empirical investigation to study the relationship between cash flow and market share on selected firms from Tehran Stock Exchange over the period 2007-2011. Using regression analysis, the study has detected a positive and meaningful relationship between cash flow on one side and three other investment opportunities, firm size and operating cash flow. In addition, there is a negative and meaningful relationship between leverage and cash flow. However, the study does not find any meaningful relationship between cash flow and market share. Finally, the study does not find any meaningful relationship between the cash flows of the previous year as control variable and other cashable assets.

  16. A study on effects of cash flow patterns and auditors’ opinions in predicting financial distress

    Directory of Open Access Journals (Sweden)

    Fatemeh Namvar

    2013-07-01

    Full Text Available Bankruptcy has been one of the most important issues among investors in stock market and there are literally different techniques for predicting bankruptcy. In this paper, we study on effects of cash flow patterns and auditors’ opinions in predicting financial distress on some 80 selected firms traded on Tehran Stock Exchange over the period 2005-2011. In this study, the combination of cash flow patterns represent firm’s resource allocations and operational capabilities interacted with their strategy choices. In additions, predictions about each individual cash flow components, operational, investment, financial, are derived from economic theory, which forms a basis for the life proxy. We use cash flow patterns in the decline stage and compare the results with auditors’ opinions. The results indicate that cash flow patterns could predict financial distress companies in Iran. In addition, the effective cash flow patterns in predicting financial distress is more than auditors’ feedbacks.

  17. Boosting health insurance coverage in developing countries: do conditional cash transfer programmes matter in Mexico?

    Science.gov (United States)

    Biosca, Olga; Brown, Heather

    2015-03-01

    Achieving universal health insurance coverage is a goal for many developing countries. Even when universal health insurance programmes are in place, there are significant barriers to reaching the lowest socio-economic groups such as a lack of awareness of the programmes or knowledge of the benefits to participating in the insurance market. Conditional cash transfer (CCT) programmes can encourage participation through mandatory health education classes, increased contact with the health care system and cash payments to reduce costs of participating in the insurance market. To explore if participation in a CCT programme in Mexico, Oportunidades, is significantly associated with self-reported enrolment in a public health insurance programme. Cross-sectional data from 2007 collected on 29 595 Mexican households where the household head is aged between ages 15 and 60 were analysed. A logit model was used to estimate the association between Oportunidades participation and awareness of enrolment in a public health insurance programme. Participation in the Oportunidades programme is associated with a 25% higher likelihood of being actively aware of enrolment in Seguro Popular, a public health insurance scheme for the lowest socio-economic groups. Participation in the Oportunidades CCT programme is positively associated with awareness of enrolment in public health insurance. CCT programmes may be used to promote participation of the lowest socio-economic groups in universal public health insurance systems. This is crucial to achieving universal health insurance coverage in developing countries. Published by Oxford University Press in association with The London School of Hygiene and Tropical Medicine © The Author 2014; all rights reserved.

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

    Science.gov (United States)

    2014-07-01

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

  19. Growth Opportunities, Earnings Permanence and the Valuation of Free Cash Flow

    Directory of Open Access Journals (Sweden)

    Ahsan Habib

    2011-12-01

    Full Text Available This paper examines empirically the effect of firm growth opportunities and earnings quality on the market valuation of free cash flow, defined as the difference between operating cash flows and capital expenditures. Equity valuation theory prescribes that free cash flow should not be associated with stock returns because itdoes not add value. However, free cash flow could become a value-relevant construct in certain contexts. This study considers growth opportunities and transitory earnings as two such contexts and examines the valuation of free cash flow. An accounting-based valuation framework is developed where stock returns are regressed onfree cash flow interacted with growth and earnings quality proxies, after controlling for book values, dividends, and current earnings realisations. Findings reveal that firms with a positive free cash flow and attractive growth opportunities command a valuation premium. Furthermore, free cash flow is found to be positively associatedwith stock returns when earnings are transitory. The results are robust to alternative definitions of both free cash flow and growth opportunities.

  20. Preparation and Analysis of Cash Flow Statements: The Net Profit Approach and Operating Profit Approach

    OpenAIRE

    Jaan Alver

    2005-01-01

    A cash flow statement is required as part of a complete set of financial statements prepared in conformity with IFRS as well as US GAAP for all business enterprises. IAS 7 lays down a formal structure for the cash flow statement. Cash flows should be classified under the following three standard headings: íOperating activitiesî, íInvesting activitiesî, íFinancing activitiesî. The classification of cash flows among operating, investing and financing activities is essential to the analysis of c...

  1. An Empirical Investigation of the Determinants of Cash Waqf Awareness in Malaysia

    National Research Council Canada - National Science Library

    Adewale Abideen Adeyemi; Nurul Aini Ismail; Siti Sabariah Binti Hassan

    2016-01-01

      Notwithstanding the consensus among most classical and contemporary scholars on the permissibility of cash or money for Waqfpurpose, its apparent limited application to religious purposes in Malaysia...

  2. THE METHODICAL APPROACHES TO PERFECTION OF CASH SERVICE IN SYSTEM «BANK – CLIENT»

    OpenAIRE

    V.S. Bochko; A.A. Mineev

    2008-01-01

    In clause the problems of cash service in system "bank – client", reason of failures(refusals) by establishments of Bank of Russia in reception to execution(performance) of the money checks and announcements on a payment in cash are considered(examined), the discrepancy of formats cash êëèåíòñêèõ of the documents to modern technologies and customs of a business revolution is marked. The modification in system of cash service of the clients is offered by the edition of the certain íîðìàòèâíî-l...

  3. Impact of Cash Transfer on Food Security: A Review

    Directory of Open Access Journals (Sweden)

    Fatemeh Mohammadi-Nasrabadi

    2016-04-01

    Full Text Available Cash transfer (CTs is an increasingly popular social protection mechanism used by many developing countries to improve the food security and nutritional status of lower socio-economic groups. This paper is a review of the literature regarding the impact of CT programs on the food security of recipient households in the developing countries, including Iran. We looked for all original studies, performed in the developing countries and published in any language, containing at least one outcome related to food and nutritional security of the beneficiary population using Pub Med, Iran Medex, SID (Scientific Information Database, ISI (Information Sciences Institute database, INP (Iran’s Nutrition Publication Abstracts, IRANDOC and Magiran. Searches used the following terms or keywords: “household food security”, “household food insecurity” and “cash transfer” on any publication published within 1990-2015. A total of 12 studies evaluating the influence of CT programs on the recipients’ food and nutrition security were identified. CT programs have the potential to deliver a range of benefits not only through reducing extreme poverty but also by providing effective support for broader human development objectives, including better nutrition, as well as health and education outputs and outcomes. The extent to which programs can have these different impacts will depend critically on the availability of complementary services, the local context, and the specifics of program design, including the transfer value. However, findings in Iran suggest that the replacement of staple food subsidies by CT has led to a significant increase in household food insecurity (especially marginal or mild food insecurity. Keywords: Household food security, Cash transfer, Developing countries

  4. A new, but old business model for family physicians: cash.

    Science.gov (United States)

    Weber, J Michael

    2013-01-01

    The following study is an exploratory investigation into the opportunity identification, opportunity analysis, and strategic implications of implementing a cash-only family physician practice. The current market dynamics (i.e., increasing insurance premiums, decreasing benefits, more regulations and paperwork, and cuts in federal and state programs) suggest that there is sufficient motivation for these practitioners to change their current business model. In-depth interviews were conducted with office managers and physicians of family physician practices. The results highlighted a variety of issues, including barriers to change, strategy issues, and opportunities/benefits. The implications include theory applications, strategic marketing applications, and managerial decision-making.

  5. Developing physician pay arrangements: the cash and care equation.

    Science.gov (United States)

    Levitch, J H

    1998-11-01

    Developing physician compensation packages that help a healthcare organization meet its business objectives while satisfying physician pay expectations requires new ways of linking pay to physician performance. Such compensation arrangements specifically should include pay tied to defined performance standards, compensation linked to group performance, performance incentives based on realistic, achievable goals, work performance measured by common criteria, and similar pay ensured for similar work. Final pay arrangements also should include items that are sometimes overlooked, such as fully delineated job responsibilities, performance measures aligned correctly with performance areas, and the value of benefits considered in the cash compensation levels.

  6. Liquid money or hard cash? Drowning into granular material

    CERN Document Server

    Bagnoli, Franco

    2016-01-01

    In British English, the term "hard cash" refers to the form of payment using coins or bill, rather than cheques or credit or money transfer. In American English, it is often prefixed by the adjective "cold". On the contrary, in Italian the equivalent expression "denaro liquido" can be literary translated as "liquid money". In French the expression is equivalent with the additional factor, with respect to the rest of this discussion, that money becomes "argent". We have therefore two very different points of view: Is money hard and cold, or rather liquid and "jingling" ("moneta sonante")? As usual, we shall investigate this topic starting from some comics about the duck family.

  7. Unstash the Cash! Corporate Governance Reform in Japan

    OpenAIRE

    Chie Aoyagi; Giovanni Ganelli

    2014-01-01

    Japan’s high corporate savings might be holding back growth. We focus on the causes and consequences of the current corporate behavior and suggest options for reform. In particular, Japan’s weak corporate governance—as measured by available indexes—might be contributing to high cash holdings. Our empirical analysis on a panel of Japanese firms confirms that improving corporate governance would help unlock corporate savings. The main policy implication of our analysis is that comprehen...

  8. Financing and cash flow management for the medical group practice.

    Science.gov (United States)

    Bert, Andrew J

    2008-01-01

    The expansion of a medical group practice and the addition of ancillary services require a substantial cash outlay. Obtaining proper financing to complete a successful expansion is a process that takes time, and there are critical steps that must be followed. The group's business objectives must be presented properly by developing a business plan detailing the practice and goals associated with the desired expansion. This article discusses some of the key elements that are essential in creating an overall effective business plan for the group medical practice.

  9. Cash Flow Analysis on the Example Cormans Ltd. Galati

    Directory of Open Access Journals (Sweden)

    Carmen SIRBU

    2010-08-01

    Full Text Available Finding appropriate ways to use cash flows to achieve financial diagnosis is one of the hardest tasks for financial analysts. Literature stressed the advantages for financial diagnosis users, when using flow information, without offering as many practical waysto achieve it. In a market economy, the enterprise should be regarded as a system that runs through its relations with third parties (investors, creditors, budgeting, suppliers,etc... relationships which materialize through estate flows. According as these flowstake liquidity shape are interested both third parties (for reclaiming of amounts invested and gaining benefits or claiming of some claims, as well as the management unit, for only thus can the system work.

  10. Managing the Cash and Liquidity of the Croatian Budget

    OpenAIRE

    Anto Bajo

    2005-01-01

    The principal proposition this paper will endeavour to maintain is that the liquidity of the budget is not fully managed by the Ministry of Finance, which is why it is unable, in collaboration with the Croatian National Bank, to rein in and slow down the growth in short-term public debt. Only since 2001, thanks to institutional improvements, have the conditions been created in the Ministry of Finance for cash and liquidity management. Thus payments operations, previously in the hands of a gov...

  11. CASH-FLOW vs. MARKET-VALUE CDOs

    Directory of Open Access Journals (Sweden)

    SILVIU EDUARD DINCA

    2016-02-01

    Full Text Available During the past few years, in the recent post-crisis aftermath, global asset managers are constantly searching new ways to optimize their investment portfolios while financial and banking institutions around the world are exploring new alternatives to better secure their financing and refinancing demands altogether with the enhancement of their risk management capabilities. We will exhibit herewith a comparison between the cash-flow and market-value CDO securitizations as financial markets-based funding, investment and risks mitigation techniques, highlighting certain key structuring and implementation specifics on each of them.

  12. Cash flow in the context of economic equation of continuity

    Directory of Open Access Journals (Sweden)

    Fernando Gómez Villarraga

    2006-07-01

    Full Text Available The mathematic scheme, known as economic equation of continuity, is established for the balance of economic resources. In order to apply this equation it is necessary to determine an economic volume of control. The patrimonial equation is also proposed as a speed equationfor this volurne. The integral equation of economic continuity is applied to the «cash» system along with the integral patrimonial equation and so it gets expressions that correspond to model to elaborate cashflow statement with the particularities of the direct and indirect method. This model generales a useful definition for the calculation of this basic financial statement classified by operating, investing and financing activities.

  13. Effect of Brazil's conditional cash transfer programme on tuberculosis incidence.

    Science.gov (United States)

    Nery, J S; Rodrigues, L C; Rasella, D; Aquino, R; Barreira, D; Torrens, A W; Boccia, D; Penna, G O; Penna, M L F; Barreto, M L; Pereira, S M

    2017-07-01

    To evaluate the impact of the Brazilian cash transfer programme (Bolsa Família Programme, BFP) on tuberculosis (TB) incidence in Brazil from 2004 to 2012. We studied tuberculosis surveillance data using a combination of an ecological multiple-group and time-trend design covering 2458 Brazilian municipalities. The main independent variable was BFP coverage and the outcome was the TB incidence rate. All study variables were obtained from national databases. We used fixed-effects negative binomial models for panel data adjusted for selected covariates and a variable representing time. After controlling for covariates, TB incidence rates were significantly reduced in municipalities with high BFP coverage compared with those with low and intermediate coverage (in a model with a time variable incidence rate ratio = 0.96, 95%CI 0.93-0.99). This was the first evidence of a statistically significant association between the increase in cash transfer programme coverage and a reduction in TB incidence rate. Our findings provide support for social protection interventions for tackling TB worldwide.

  14. An Efficient Fair Off-line Electronic Cash Scheme Design

    Institute of Scientific and Technical Information of China (English)

    WANGChangji; WUJianping

    2004-01-01

    This paper introduces the notion of restrictive partially blind signature scheme, which is the integration of partially blind signature scheme and restrictive blind signature scheme. Successively, this paper presents a fair off line electronic cash scheme based on the restrictive partially blind signature scheme. The expiry date and denomination are embedded in the electronic coin.Thus bank just needs to keep undue electronic coins in his coin database, which alleviates the storage pressure for the bank to check double spending. Moreover, bank needs not use different public keys for electronic coin with different denominations, and shops/users need not carry a list of bank's public keys to verify the electronic coin with different denominations. The number of modular exponentiation operations is reduced for both the user and the bank, which is achieved by introducing a new signature of proof of knowledge in the withdrawal protocol and letting the trusted third party publish two different public keys other than in previous fair off line electronic cash scheme.The scheme security is based on the random oracle model and decision Diffle-Hellman assumption.

  15. Restricted common data in anonymous E-cash system

    Institute of Scientific and Technical Information of China (English)

    ZHANG Xiang-jun; CHEN Ke-fei

    2006-01-01

    Discuss the problem of infinite increasing coin list in anonymous E-cash systems, which reduce the efficiency of whole system greatly. Though some methods are suggested, no one can solve the problem with high efficiency and flexibility. Here, we use the technique of adding information in blind signatures to deal with this problem. Through adding timestamp in signatures, we can separate the valid period of all used coins into pieces. Only the coins in the last stage are recorded. So the scale of the coins list is controlled. We also analyze the anonymity of these data, and add some indispensable restrictions to them. These restrictions can ensure that the imported data don't break the anonymity of the customers. In order to fulfill these qualifications, we lead to the concept of restricted common data (RCD). Furthermore, we propose two schemes to add RCD in the blind signature. The simple one is easy to implement, while the complex one can note the value of the coin. The usage of RCD leads to little additional cost, as well as maintaining the anonymity of customers. This method fits for most kinds of anonymous E-cash systems.

  16. Analýza cash flow vybraného podnikatelského subjektu.

    OpenAIRE

    ČECHÁČKOVÁ, Lenka

    2010-01-01

    Aim of this thesis is to examine the specific influences on the business development of cash flows for each year. Is important to assess the impact of credit obtained in 2006 to build a grinding lines on the cash flows of the enterprise.

  17. Implementation of Treasury Single Account and Strengthening of Cash Management in Vietnam

    OpenAIRE

    World Bank

    2014-01-01

    Vietnam has made progress to improve oversight and control over cash balances for the state budget. The current arrangement however falls short of a treasury single account (TSA), which has led to inefficiencies in the management of cash balances and higher than necessary borrowing costs. In response to this, the Government of Vietnam has embarked on reforms to adopt a TSA and strengthen o...

  18. 24 CFR 511.75 - Disbursement of rental rehabilitation grant amounts: Cash and Management Information System.

    Science.gov (United States)

    2010-04-01

    ... rehabilitation grant amounts: Cash and Management Information System. 511.75 Section 511.75 Housing and Urban... rehabilitation grant amounts: Cash and Management Information System. (a) General. Rental Rehabilitation grants... Information System. Copies of these forms and issuances may be obtained from HUD Field Offices....

  19. 77 FR 45381 - Cash Account Trust, et al.; Notice of Application

    Science.gov (United States)

    2012-07-31

    ..., DWS Value Series, Inc., DWS Variable Series I, DWS Variable Series II, Investors Cash Trust, Tax... listed above that do not offer multiple series. Cash Management Portfolio and DWS Equity 500 Index... among multiple Sub-Advisors; and (b) monitor and evaluate the performance of Sub-Advisors. 4....

  20. 48 CFR 53.301-1165 - Standard Form 1165, Receipt for Cash-Subvoucher.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 2 2010-10-01 2010-10-01 false Standard Form 1165, Receipt for Cash-Subvoucher. 53.301-1165 Section 53.301-1165 Federal Acquisition Regulations System... Standard Form 1165, Receipt for Cash-Subvoucher. EC01MY91.079...

  1. The Impact of Conditional Cash Transfer Programs on Human Capital Accumulation

    Science.gov (United States)

    Latham, James David Michael

    2013-01-01

    Conditional cash transfer (CCT) programs are increasingly being used through the developing world to reduce inequality, break the intergenerational poverty cycle, and build human capital. These programs vary by country but typically make cash transfers conditional upon children meeting certain healthcare and educational standards. While previous…

  2. A Conceptual Framework for the Indirect Method of Reporting Net Cash Flow from Operating Activities

    Science.gov (United States)

    Wang, Ting J.

    2010-01-01

    This paper describes the fundamental concept of the reconciliation behind the indirect method of the statement of cash flows. A conceptual framework is presented to demonstrate how accrual and cash-basis accounting methods relate to each other and to illustrate the concept of reconciling these two accounting methods. The conceptual framework…

  3. Investment - Cash Flow Sensitivity and Financing Constraints: New Evidence from Indian Business Group Firms

    NARCIS (Netherlands)

    Pallathitta, Rejie; Kabir, Rezaul; Qian, Jing

    2010-01-01

    A controversy exists on the use of the investment – cash flow sensitivity as a measure of financing constraints of firms. We re-examine this controversy by analyzing firms affiliated to Indian business groups. We find a strong investment – cash flow sensitivity for both group-affiliated and independ

  4. Investment–cash flow sensitivity and financing constraints: new evidence from Indian business group firms

    NARCIS (Netherlands)

    George, R.; Kabir, M.R.; Qian, J.

    2011-01-01

    A controversy exists on the use of the investment–cash flow sensitivity as a measure of financing constraints of firms.Were-examine this controversy by analyzing firms affiliated to Indian business groups. We find a strong investment–cash flow sensitivity for both group-affiliated and independent fi

  5. Malawi - Public Works Programme : Conditional Cash Transfers as an Emergency Response to a National Food Shortage

    OpenAIRE

    Kalanda, Boniface; Mandala, Charles; Magwira, Joseph

    2006-01-01

    This paper reports that in the 2004-2005 growing season, Malawi experienced a drought which affected farm produce and subsequently led to country-wide food shortages. Due to the food shortage, the Malawi Government implemented a Public Works Programme -- Conditional Cash Transfers (PWP-CCT) to transfer cash income to vulnerable households to enable them buy food and agricultural inputs for...

  6. 41 CFR 301-72.203 - When may we limit traveler reimbursement for a cash payment?

    Science.gov (United States)

    2010-07-01

    ... traveler reimbursement for a cash payment? 301-72.203 Section 301-72.203 Public Contracts and Property... Carrier Transportation Services § 301-72.203 When may we limit traveler reimbursement for a cash payment... the traveler must not exceed the cost which would have been properly chargeable to the Government had...

  7. FASB's Latest Standard: A Look at the Statement of Cash Flows.

    Science.gov (United States)

    Fischer, Mary; Blythe, Joseph C.

    1993-01-01

    A discussion of the Financial Accounting Standards Board's new accounting standard No. 117, which concerns colleges and universities as nonprofit organizations, looks at new provisions and reporting requirements. Methods for producing the required cash flow statement are outlined, and the use of cash flow ratios is examined. (MSE)

  8. Conditional Cash Transfers and Education Quality in the Presence of Credit Constraints

    Science.gov (United States)

    Del Rey, Elena; Estevan, Fernanda

    2013-01-01

    We investigate the relative merits of unconditional cash transfers (UCT), conditional cash transfers (CCT), and the effects of improvements in education quality on efficiency and welfare. In our setting, some parents underinvest in their children's education because capital market imperfections prevent them from borrowing. Under sufficiently…

  9. Normative regulation of cash flows as information provision of their accounting and control

    OpenAIRE

    TOMCHUK V.V.

    2012-01-01

    The importance of normative and legislative basis of accounting and control of cash flows is considered in the article «Normative regulation of cash flows as information provision of their accounting and control» written by Victor Vasyliyovych Tomchuk from the National Scientific Center «Institute of Agrarian Economics».

  10. 38 CFR 8.33 - Cash value for term-capped policies.

    Science.gov (United States)

    2010-07-01

    ... 38 Pensions, Bonuses, and Veterans' Relief 1 2010-07-01 2010-07-01 false Cash value for term... NATIONAL SERVICE LIFE INSURANCE Appeals § 8.33 Cash value for term-capped policies. (a) What is a term... which premiums have been capped (frozen) at the renewal age 70 rate. (b) How can a term-capped...

  11. FASB's Latest Standard: A Look at the Statement of Cash Flows.

    Science.gov (United States)

    Fischer, Mary; Blythe, Joseph C.

    1993-01-01

    A discussion of the Financial Accounting Standards Board's new accounting standard No. 117, which concerns colleges and universities as nonprofit organizations, looks at new provisions and reporting requirements. Methods for producing the required cash flow statement are outlined, and the use of cash flow ratios is examined. (MSE)

  12. Problems with Cash and Other Non-Operating Assets Value in the Process of Valuing Company

    Directory of Open Access Journals (Sweden)

    Piotr Szczepankowski

    2007-12-01

    Full Text Available In economic practice the process of valuing enterprises is based on potential earnings from companies operating assets ñ operating fixed assets and operating working capital. Cash and other non-operating assets (mainly financial are treated as unproductive, non-income assets. Eventually, in process of pricing their current, accounting value is added to income value of enterprise or cash is treated as source for quick covering the debts of firm, what of course indirectly improve for better value of equity (the lower financial risk. Not taking into account the profitable influence of cash value and other non-operating assets can negatively affect on result of final value of enterprise, reducing it. In the article two alternative approaches (separate and inclusive of cash value is presented. Also main determinants of estimating value of cash are described as well as potential threats of its valuation.

  13. Research on the Validity Duration of Off-Line E-cash

    Institute of Scientific and Technical Information of China (English)

    PENG Bing; YANG Zong-kai; WU Shi-zhong

    2004-01-01

    To solve the drawback of the present electionic cash(E-cash) schemes that the size of bank's transcripts database expands without bound, the concept of validity duration of E-cash is introducedin this paper. Through improving the users' blind transforms ofBrands' scheme, we design an efficient off-line E-cash system basedon the restrictive blind signature and repressentation problem. The security analysis shows that the users can not forge a valid electronic coinor double spend it , in addition, the bank can not trace an honestusers' payment behaviours. In compare with Brand's scheme, our scheme reduces storage costs and computation overhead of the usersand the banks. Most of all, the electronic cashes will be authorizedwithin a limit period only, the size of bank's transcripts database becomes controllable.

  14. ID-Based Fair Off-Line Electronic Cash System with Multiple Banks

    Institute of Scientific and Technical Information of China (English)

    Chang-Ji Wang; Yong Tang; Qing Li

    2007-01-01

    ID-based public key cryptography (ID-PKC) has many advantages over certificate-based public key cryptog-raphy (CA-PKC), and has drawn researchers’ extensive attention in recent years. However, the existing electronic cash schemes are constructed under CA-PKC, and there seems no electronic cash scheme under ID-PKC up to now to the best of our knowledge. It is important to study how to construct electronic cash schemes based on ID-PKC from views on both practical perspective and pure research issue. In this paper, we present a simpler and provably secure ID-based restrictive partially blind signature (RPBS), and then propose an ID-based fair off-line electronic cash (ID-FOLC) scheme with multiple banks based on the proposed ID-based RPBS. The proposed ID-FOLC scheme with multiple banks is more efficient than existing electronic cash schemes with multiple banks based on group blind signature.

  15. The impact of Mexico's conditional cash transfer programme, Oportunidades, on birthweight.

    Science.gov (United States)

    Barber, Sarah L; Gertler, Paul J

    2008-11-01

    To evaluate the impact of Oportunidades, a large-scale, conditional cash transfer programme in Mexico, on birthweight. The programme provides cash transfers to low-income, rural households in Mexico, conditional on accepting nutritional supplements health education, and health care. The primary analyses used retrospective reports from 840 women in poor rural communities participating in an effectiveness study and randomly assigned to incorporation into the programme in 1998 or 1999 across seven Mexican states. Pregnant women in participating households received nutrition supplements and health care, and accepted cash transfers. Using multivariate and instrumental variable analyses, we estimated the impact of the programme on birthweight in grams and low birthweight (Oportunidades beneficiary status was associated with 127.3 g higher birthweight among participating women and a 4.6 percentage point reduction in low birthweight. The Oportunidades conditional cash transfer programme improved birthweight outcomes. This finding is relevant to countries implementing conditional cash transfer programmes.

  16. 26 CFR 1.448-1 - Limitation on the use of the cash receipts and disbursements method of accounting.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 6 2010-04-01 2010-04-01 false Limitation on the use of the cash receipts and... Limitation on the use of the cash receipts and disbursements method of accounting. (a)-(f) (g) Treatment of... the cash method, any taxpayer to whom section 448 applies must change its method of accounting...

  17. 41 CFR 102-118.92 - How does my agency handle receipts, tickets or other records of cash payments?

    Science.gov (United States)

    2010-07-01

    ... handle receipts, tickets or other records of cash payments? 102-118.92 Section 102-118.92 Public... records of cash payments? Your agency must ensure that its employees keep the original receipts for transportation purchases over $75.00 made with cash. If it is impractical to furnish receipts in any instance...

  18. 19 CFR 351.107 - Cash deposit rates for nonproducing exporters; rates in antidumping proceedings involving a...

    Science.gov (United States)

    2010-04-01

    ... 19 Customs Duties 3 2010-04-01 2010-04-01 false Cash deposit rates for nonproducing exporters... Scope and Definitions § 351.107 Cash deposit rates for nonproducing exporters; rates in antidumping... of cash deposit rates in situations where the exporter is not the producer of subject...

  19. 78 FR 64183 - Change to Existing Regulation Concerning the Interest Rate Paid on Cash Deposited To Secure...

    Science.gov (United States)

    2013-10-28

    ... to Existing Regulation Concerning the Interest Rate Paid on Cash Deposited To Secure Immigration... rate set by Treasury--3 per centum per annum--has been paid on cash bond deposits received after April... the rate of 3 percent per year on cash deposited by bond obligors to secure immigration bonds....

  20. Currency Substitution and the Fluctuations of Foreign-Exchange Reserves with Credibly Fixed Exchange Rates

    OpenAIRE

    Alberto Giovannini

    1991-01-01

    A fixed-exchange-rate system is characterized by two pillars: monetary policy coordination and foreign exchange reserves. This paper concentrates on the fluctuation of foreign exchange reserves by taking monetary policy coordination as given: the sustainability of the fixed exchange rate regime is insured via a cointegration restriction on the path of money supplies. The paper considers three types of cash-in-advance models of money demand. The first two types are more traditional models wher...

  1. O voleibol feminino e seu posicionamento no campo esportivo brasileiro

    Directory of Open Access Journals (Sweden)

    Tatiana Moreira

    2013-11-01

    Full Text Available http://dx.doi.org/10.5007/2175-8042.2013v25n41p269 O presente artigo oferece reflexões introdutórias acerca do posicionamento do voleibol feminino no interior do campo esportivo brasileiro. Por meio da pesquisa exploratória com base em Pinheiro (1995, Pizzolato (2004, Marchi Jr. (2004, Costa (2005, Vlastuin (2008, Moreira (2009 e Afonso (2011, identificamos pontos centrais que orientaram a interpretação sociológica fundamentada pela Sociologia Reflexiva de Bourdieu. Constatamos que a trajetória histórica do voleibol feminino no campo esportivo brasileiro se deu entre habitus construídos e legitimados sob efeitos de dominação simbólica do voleibol masculino, instauradores das leis de reprodução social e que refletem o seu posicionamento hierárquico no campo esportivo brasileiro.

  2. VARIABILIDAD DEL ECOTIPO DE ALFALFA 'TIERRA DE CAMPOS'

    OpenAIRE

    Fombellida Villafruela, A.

    2011-01-01

    La alfalfa es el cultivo forrajero más extendido en la comarca de Tierra de Campos. Se cultiva habitualmente en secano, con aprovechamiento mediante siega para heno y mediante pastoreo de los rebrotes, destinándose parte de superficie a la producción de semilla para uso propio. Esta forma de manejo, en este ambiente, a lo largo de los años, ha originado un tipo de alfalfa conocido con el nombre de 'Tierra de Campos'. La introducción en la comarca de alfalfas flamencas para su multiplicación, ...

  3. On-line Payment System Survey – eCash

    Directory of Open Access Journals (Sweden)

    Marius Popa

    2009-12-01

    Full Text Available The paper presents the main aspects regarding an on-line payment system. Some characteristics of such system are presented and an existing system is analyzed. On its fundamental sense, the electronic commerce is a concept that represents the purchase and sale process or exchange of products, services, information, using o computer network, inclusively the Internet. In the most part of the cases, the electronic commerce imply on-line payments that lead to creation of some kinds of electronic money and some specific payment systems. There are described the some electronic payment mechanisms and the architecture and the functions of the on-line payment system E-Cash are depicted.

  4. Comments on contingency management and conditional cash transfers.

    Science.gov (United States)

    Higgins, Stephen T

    2010-10-01

    This essay discusses research on incentive-based interventions to promote healthy behavior change, contingency management (CM) and conditional cash transfers (CCT). The overarching point of the essay is that CM and CCT are often treated as distinct areas of inquiry when at their core they represent a common approach. Some potential bi-directional benefits of recognizing this commonality are discussed. Distinct intellectual traditions probably account for the separate paths of CM and CCT to date, with the former being rooted in behavioral psychology and the latter in microeconomics. It is concluded that the emerging field of behavioral economics, which is informed by and integrates principles of each of those disciplines, may provide the proper conceptual framework for integrating CM and CCT.

  5. Production inventory policy under a discounted cash flow

    Directory of Open Access Journals (Sweden)

    Su Chao-Ton

    2005-01-01

    Full Text Available This paper presents an extended production inventory model in which the production rate at any instant depends on the demand and the inventory level. The effects of the time value of money are incorporated into the model. The demand rate is a linear function of time for the scheduling period. The proposed model can assist managers in economically controlling production systems under the condition of considering a discounted cash flow. A simple algorithm computing the optimal production-scheduling period is developed. Several particular cases of the model are briefly discussed. Through numerical example, sensitive analyses are carried out to examine the effect of the parameters. Results show that the discount rate parameter and the inventory holding cost have a significant impact on the proposed model.

  6. Biostratigraphy of the Quaternary nannofossils from Campos Basin; Bioestratigrafia dos nanofosseis quaternarios da Bacia de Campos

    Energy Technology Data Exchange (ETDEWEB)

    Antunes, Rogerio L. [PETROBRAS, Rio de Janeiro, RJ (Brazil). Centro de Pesquisas

    1994-04-01

    Seven biostratigraphic intervals have been identified through biostratigraphic studies based on calcareous nannofossils from samples of the Quaternary section of Campos and Santos basins. These intervals (named A to G) are based mainly on biological events such as extinction, first appearance, and prevalence (acme zone) of cosmopolitan taxa. In view of this, almost all recognized sections have an identity with colval biozones that have been described in the bibliography, making easier their correlation with magneto stratigraphic units and the inference of absolute ages. Nevertheless, interval D has not been consistently identified. According to what was observed it is possible to further divide the section. Such detailing would be based mainly on the appearance of Helicosphaera inversa (in interval C) and form B of H. carteri. var. wallichii (at the base of interval F), and on the abundance of H. carteri s.l. (in interval G). It is possible that other subdivisions will be delineated through quantitative investigation. However, these would be based on `anomalous` concentrations of some species with strong environmental connotation. This is the case, for example, of sharp variations in the absolute frequency of Coccolithus pelagicus which, for the time being, have been detected in intervals F and G. According to the bibliography, this species attains maximum proliferation during glacial epochs. (author). 5 figs., 1 tab.

  7. Introductory small cash incentives to promote child spacing in India.

    Science.gov (United States)

    Stevens, J R; Stevens, C M

    1992-01-01

    The Ammanpettai Family Welfare Program began in 1985 as a pilot program to determine whether offering small monthly cash incentives for a limited period would be a cost-effective way to increase the use of modern temporary methods of contraception among rural Indian women who do not want to become pregnant but are not ready to adopt sterilization. The program has demonstrated that a modest cash incentive for 3-5 months attracts very large numbers of women to a clinic where they learn about and are provided with the pill, condoms, or the IUD. In catchment areas where official government reports showed temporary-methods prevalence rates of 3-5 percent at best, the Ammanpettai incentive program has attracted up to 70 percent of eligible women to join the program and try the method of their choice. By requiring that participants bring their youngest child to the clinic, the program provides for mother and child health surveillance, including immunizations. The great majority of rural women who join the program work as field laborers, have little or no schooling, and have little knowledge of or experience with modern contraceptive methods. Continuation rates are 25-50 percent at one year if follow-up is maintained by village resident women distributors. The program has been extended to several rural primary health centers in Thanjavur District, to 14 government health posts in the city of Madras, and to a semiurban area and several rural areas in Bihar. The cost-effectiveness of this program compares favorably with that of the current government family welfare program.

  8. Valuation of Index-Linked Cash Flows in a Heath–Jarrow–Morton Framework

    Directory of Open Access Journals (Sweden)

    Jonas Alm

    2015-09-01

    Full Text Available In this paper, we study the valuation of stochastic cash flows that exhibit dependence on interest rates. We focus on insurance liability cash flows linked to an index, such as a consumer price index or wage index, where changes in the index value can be partially understood in terms of changes in the term structure of interest rates. Insurance liability cash flows that are not explicitly linked to an index may still be valued in our framework by interpreting index returns as so-called claims inflation, i.e., an increase in claims cost per sold insurance contract. We focus primarily on the case when a deep and liquid market for index-linked contracts is absent or when the market price data are unreliable. Firstly, we present an approach for assigning a monetary value to a stochastic cash flow that does not require full knowledge of the joint dynamics of the cash flow and the term structure of interest rates. Secondly, we investigate in detail model selection, estimation and validation in a Heath–Jarrow–Morton framework. Finally, we analyze the effects of model uncertainty on the valuation of the cash flows and how forecasts of cash flows and interest rates translate into model parameters and affect the valuation.

  9. Analysis and Utilization of Cash Flow Statement%现金流量表的分析与利用

    Institute of Scientific and Technical Information of China (English)

    李晶

    2011-01-01

    This paper introduces the practical significance of the cash flow analysis,the contents of cash flow analysis,methods of cash flow analysis, cash budgetary control, control of cash flow problems.%文章介绍了现金流量表分析的现实意义、现金流量表分析的内容、现金流量表的分析方法、现金预算控制,现金流出的控制等问题.

  10. Annual Cash Income from Community Forest Management in the Brazilian Amazon: Challenges for the Future

    Directory of Open Access Journals (Sweden)

    Marie-Gabrielle Piketty

    2015-11-01

    Full Text Available Community forest management (CFM is considered an alternative way to protect forests while providing income for smallholders. Since the mid-1990s, the number of CFM projects has rapidly increased in the Brazilian Amazon, although most of them still face several difficulties. In this paper, we discuss the obstacles to the financial viability of CFM in this region and propose some ways to overcome them. Based on evidence from five case studies, we assess the extent to which sustainable forest management for commercial timber production contributes to smallholder income. We show that harvesting timber only provides a limited cash income to smallholders, even though forest covers 80% of their landholding. Market access to timber is very uncertain and smallholder communities often fail to make a profit from their timber. Minimum remunerative public prices and support for timber marketing are thus needed. Simpler and more flexible procedures are required to reduce the high transaction costs of obtaining a permit and increase smallholder involvement in legal forest management for commercial purposes. Finally, a better assessment of timber potential in smallholder forest reserves through systematic inventories would be useful to avoid arousing false expectations.

  11. TRABALHO DE CAMPO NO VALE DO JEQUITINHONHA: UMA POSSIBILIDADE DE APROXIMAÇÃO DA REALIDADE DO CAMPO

    Directory of Open Access Journals (Sweden)

    Maria de Fátima Almeida Martins

    2010-01-01

    Full Text Available Este texto é fruto da experiência que tivemos na visita de campo ao Vale do Jequitinhonha(MG, lugar de referência e atuação de três educandos do curso de Licenciatura do Campo – Pedagogia da Terra –, integrantes da turma iniciada em dezembro de 2005, na Faculdade de Educação da UFMG. Essa turma marcou o início de nossas reflexões e nossa prática,com a formação e o ensino da Área de Ciências Sociais e Humanidades para professores que atuarão na educação do/no campo. Os relatos, as análises e as aproximações com os saberes e fazeres do campo apresentados aqui resultam das observações e do acompanhamento realizados nos locais de estágio dos referidos educandos. Estes residem 16TRABALHO DE CAMPO NO VALE DO JEQUITINHONHA: Revista Geografares, n° 8, 2010UMA POSSIBILIDADE DE APROXIMAÇÃO DA REALIDADE DO CAMPOnas cidades de Rio Pardo de Minas, Jequitinhonha e Almenara, mas suas práticas se realizam no campo, relacionada, respectivamente, à atuação do Sindicato dos Trabalhadores Rurais de Rio Pardo de Minas; do Centro de Agricultura Alternativa (CAA; da Caritas Diocesana, sediada em Jequitinhonha; e do Movimento dos Trabalhadores Rurais Sem Terra (MST, em Jequitinhonha e Almenara.

  12. Effects of Organisational Characteristics on Contractors’ Construction Cash Flow Forecasting Capabilities

    Directory of Open Access Journals (Sweden)

    Muhammad Abdullahi

    2017-01-01

    Full Text Available Inadequate cash resources resulting from poor cash flows have been among the fundamental causes of construction project failures. Despite the panoply of cash flow forecasting (CFF tools, the cash flow performance of many construction firms have been reported to be poor due weak Cash flow forecasting (CFF process capabilities influenced by a couple of organisational characteristics. Although these organisational characteristics have been reported to significantly influence firms’ CFF process capabilities, the underlying mechanisms of how these organisational features and characteristics exhibit their specific influences on the cash flow forecasting capabilities of construction firms still remains underexplored. Therefore, this study aims at empirically exploring the influence of some organisation characteristics on the CFF process capabilities of construction firms. Best practices in CFF identified from the Royal Institute of Chartered Surveyors (RICS Cash Flow Forecasting (CFF guide were used to develop an assessment criteria used to assess the CFF capabilities of construction firms. The assessment was conducted through a questionnaire survey involving contracting organisations involved in both building and civil engineering works in Nigeria. The key best practices in CFF were ranked based on arithmetic mean value scores and averages were also determined for each of the four CFF components assessed (Knowledge and understanding CFF concepts and principles, Practical application, Practical considerations, and other Managerial issues. Hierarchical regression analysis was then used to examine the relationships between contractors’’ CFF process capabilities and some organisational characteristics. Results of the study reveals that organisational characteristics are strongly associated to firms’ abilities to prudently manage cash flows. The results of this study could serve as a basis for the strategic planning and improvement of Cash Flow

  13. Towards cash transfer interventions for tuberculosis prevention, care and control: key operational challenges and research priorities.

    Science.gov (United States)

    Boccia, Delia; Pedrazzoli, Debora; Wingfield, Tom; Jaramillo, Ernesto; Lönnroth, Knut; Lewis, James; Hargreaves, James; Evans, Carlton A

    2016-06-21

    Cash transfer interventions are forms of social protection based on the provision of cash to vulnerable households with the aim of reduce risk, vulnerability, chronic poverty and improve human capital. Such interventions are already an integral part of the response to HIV/AIDS in some settings and have recently been identified as a core element of World Health Organization's End TB Strategy. However, limited impact evaluations and operational evidence are currently available to inform this policy transition. This paper aims to assist national tuberculosis (TB) programs with this new policy direction by providing them with an overview of concepts and definitions used in the social protection sector and by reviewing some of the most critical operational aspects associated with the implementation of cash transfer interventions. These include: 1) the various implementation models that can be used depending on the context and the public health goal of the intervention; 2) the main challenges associated with the use of conditionalities and how they influence the impact of cash transfer interventions on health-related outcomes; 3) the implication of targeting diseases-affected households and or individuals versus the general population; and 4) the financial sustainability of including health-related objectives within existing cash transfer programmes. We aimed to appraise these issues in the light of TB epidemiology, care and prevention. For our appraisal we draw extensively from the literature on cash transfers and build upon the lessons learnt so far from other health outcomes and mainly HIV/AIDS. The implementation of cash transfer interventions in the context of TB is still hampered by important knowledge gaps. Initial directions can be certainly derived from the literature on cash transfers schemes and other public health challenges such as HIV/AIDS. However, the development of a solid research agenda to address persisting unknowns on the impact of cash transfers on

  14. Investigating the persistence of earnings components and pricing test of abnormal changes in cash

    Directory of Open Access Journals (Sweden)

    Yaser Ahmadi

    2013-03-01

    Full Text Available This paper investigates the persistence of earnings components and pricing test of abnormal changes in cash for selected firms listed on Tehran Stock Exchange (TSE. The proposed study gathers the necessary data from 166 firms over the period 2004-2012 from firms whose shares were actively traded on TSE market. The study uses Panel data and with the implementation of linear regression technique examines four hypotheses. The results indicate that abnormal negative changes in cash are more persistence than positive abnormal changes. In addition, both positive and negative abnormal changes are more persistence than accruals. Market also has a good perception on abnormal positive and negative changes in cash.

  15. STATEMENT OF CASH FLOWS - DYNAMIC IMAGE OF CHANGES IN FINANCIAL POSITION OF AN ECONOMIC ENTITY

    Directory of Open Access Journals (Sweden)

    Mihaela-Cristina Onica

    2013-12-01

    Full Text Available Annual financial statement users want the best possible information about the ability of economic agents to make payments, liquidity needs, as well as for comparing different company’s results, eliminating the impact of using different accounting methods for similar transactions. For this purpose it is necessary cash flow statement.According to a survey of 78 companies listed on the London Stock Exchange, the cash flow statement is especially useful in "Treasury analysis from operating activities" and 'coverage determination of dividends and interest cash flows net of tax'.

  16. Improvements to Controls Over Cash Are Needed at Army Disbursing Stations in Kuwait and Saudi Arabia

    Science.gov (United States)

    2014-04-09

    and receipt for cash and vouchers on hand. Reporting Structure of the Army’s Disbursing Stations in Kuwait The Army disbursing station at Camp...No. DODIG-2014-057 A P R I L 9 , 2 0 1 4 Improvements to Controls Over Cash Are Needed at Army Disbursing Stations in Kuwait and Saudi Arabia...2014 2. REPORT TYPE 3. DATES COVERED 00-00-2014 to 00-00-2014 4. TITLE AND SUBTITLE Improvements to Controls Over Cash Are Needed at Army

  17. EXCESS CASH HOLDINGS DAN KEPEMILIKAN INSTITUSIONAL PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI

    Directory of Open Access Journals (Sweden)

    Yessica Tria Christina

    2014-02-01

    Full Text Available This research provides an empirical evidence about the effect of institutional ownerships as a proxy of information transparancy on excess cash holdings. Manufacture companies listed on BEI from years 2002 to 2011 are employed. The results show that the higher the proportion of institutional ownership, the lower the excess cash holdings. Informational transparancy, as one of the requirements of good corporate governance, can in fact lower the chance of aggrevating the manager’s behavior to practice excess cash holdings that can lower the company’s efficiency.

  18. A study on relationship between earnings management and operating cash flows management: Evidence from Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Bahman Banimahd

    2013-06-01

    Full Text Available This study investigates the impact of earnings management on operating cash flows management over the period 2004-2011 using the information of 119 firms listed on the Tehran Stock Exchange. Results indicate that there is a meaningful relationship between earnings management and operating cash flows management. In other words, earnings management creates and shapes operating cash flows management. In addition, after controlling for the loss reporting, firm size and firm's financial risk, the results show that there was a relationship between loss reporting and firm size with the cash flows management. When firms report loss, then operating cash flows increases. Finally, operating cash flows decreases when firm size increases. However, our survey does not provide any evidence to believe there is any relationship between financial risk and cash flows management.

  19. Estudio de sondas de campo cercano basadas en estructuras SIW

    OpenAIRE

    2013-01-01

    Estudio de viabilidad del uso de las estructuras SIW (Substrate Integrated Circuit) para diseñar sondas de campo cercano basadas en guías de onda rectangulares abiertas en uno de sus extremos, que proporcionen mayor resolución en las medidas que las sondas comerciales.

  20. Detection of Leishmania infantum in Lutzomyia longipalpis captured in Campo Grande, MS

    Directory of Open Access Journals (Sweden)

    Rodrigo Casquero Cunha

    Full Text Available Leishmaniasis is a zoonotic disease caused by protozoa of the genus Leishmania (Ross, 1903 and is the focus of considerable attention in human and veterinary medicine. In the city of Campo Grande, MS, the causative agent of visceral leishmaniasis is Leishmania infantum (= L. chagasi primary vector, comprising approximately 92.9% of the local sandfly population, is Lutzomyia longipalpis. The aim of this work was to compare real-time PCR with PCR as a tool for the detection of the kinetoplast DNA (kDNA of L. infantum in sandflies. Sandflies of this species were caught, and a total of 38 samples with 1-4 individuals in each sample were obtained; these were distributed across 13 districts and divided between seven urban areas of the city of Campo Grande, MS. Three positive samples were found by PCR and, when using real-time PCR, this was able to detect the presence of this agent in 6 of the 13 districts sampled, which were all located on the outskirts of the city, where indicates the greater enzootic potential of these regions, as they are closer to natural forest reserves. We conclude that real-time PCR can be used for epidemiological studies of L. infantum.

  1. 40 CFR 35.3160 - Cash draw rules.

    Science.gov (United States)

    2010-07-01

    ... construction costs multiplied by the Federal share of the reserve multiplied by the ratio of the reserve to... reserve after the default is covered, the State must negotiate a revised schedule for the remaining amount... incurred construction costs of the selected projects only, multiplied by the ratio of the Federal...

  2. A study on the relationship between operational cash flow and the return of stockholders

    Directory of Open Access Journals (Sweden)

    Hassan Ghodrati

    2014-07-01

    Full Text Available Performance measurement in managerial accounting is normally associated with cash flow and it is executed based on different figures such as testing information content abuse and accounting figures. However, increasing the information content in accrual components of earning and internal performance measurement provides additional informative insights. This paper studies the relationship between operating cash flows and earnings along with total shareholder returns. The study chooses the information of 54 firms from Tehran Stock Exchange. The results show that there were some meaningful relationship between the operating cash flow, profitability and the returns of all stakeholders. However, this happens by increasing profitability and cash flow of information asymmetry proportion to their correlation with the economic efficiency of shareholders’ returns.

  3. Determinants of corporate cash holdings: Evidence from Portuguese publicly traded firms

    Directory of Open Access Journals (Sweden)

    Fernandes, Filipa

    2017-05-01

    Full Text Available This paper investigates the determinants of cash holdings of publicly traded Portuguese firms. We find that such firms hold less cash than similar companies operating in countries where both shareholders and creditors’ rights are more tightly protected by the law. In addition, our regression results suggest that leverage, other liquid assets, and firm growth are negatively correlated with our sample firms’ cash holdings whereas long-term debt and financial distress are positively correlated. Our findings cannot be reconciled with just one of the existent theories (trade-off, pecking order and free cashflow theory, and emphasize the importance of a country’s legal, institutional, and economic environment for explaining firms’ cash holdings decisions.

  4. EMPIRICAL STUDY CONCERNING THE VIEWS ON THE FORMAT OF CASH FLOW STATEMENTS

    Directory of Open Access Journals (Sweden)

    LUCIAN IOAN SABĂU

    2012-11-01

    Full Text Available Following the proposals about the new IFRS that would replace the existing standards on financial statement presentation in IFRSs, IAS 1 Presentation of Financial Statements and IAS 7 Statement of Cash Flows, we conduct an empirical study on the opinions regarding the format of the cash flow statement, and the most appropriate method of presentation. The objective of this research is to develop a critical analysis based on this literature, regarding the most appropriate method of presenting cash flow statements. The results of our research is that the direct method is the most adequate for statement of cash flows, being confirmed by most studies reviewed, most researchers considering this method of reporting as the most appropriate and useful, compared with reporting by using the indirect method.

  5. ALGEBRAIC GENERALIZATION OF THE CASH FLOW STATEMENT: REFLECTIONS BY MEANS OF AN ALGEBRAIC ALGORITHM

    National Research Council Canada - National Science Library

    José Roberto Kassai; Antonio Geloneze Neto

    2012-01-01

    ... (about one million dollars as of this writing) to publish a cash flow statement (CFS) as part of their financial statements, making this statement another important source of information for investors...

  6. Improvements of the cash-flow statement control function in financial reporting

    National Research Council Canada - National Science Library

    Metka Duhovnik

    2008-01-01

    ... by a properly prepared statement of cash fl ows. It is based on the fi nding that the professional literature is inconsistent in distinguishing liquidity and profi tability information, and consequently also in distinguishing between the ratios...

  7. Impact of VAT on the Profitability and the Cash Flow of Romanian Small and Medium Enterprises

    Directory of Open Access Journals (Sweden)

    MARIA ZENOVIA GRIGORE

    2014-05-01

    Full Text Available The options available to taxpayers make tax systems attractive and give them an opportunity to choose one system or another after a careful analysis of the fiscal advantages and disadvantages of each choice. A small or medium company has to explore the options available, whether that is VAT registration or de-registration or choosing the best VAT special scheme. VAT optimisation is particularly interesting because of the high cash flow involved and because of the cash flow benefits that can be obtained. This paper presents an analysis of VAT costs and their impact on profitability and cash flow of small and medium enterprises. We also analysed specific mechanisms to improve profitability and cash flow through VAT optimisation.

  8. Investment cash flow sensitivity under managerial optimism: new evidence from NYSE panel data firms

    Directory of Open Access Journals (Sweden)

    Ezzeddine Ben Mohamed

    2014-06-01

    Full Text Available Investment cash flow sensitivity constitutes one important block of the corporate financial literature. While it is well documented in standard corporate finance, it is still young under behavioral corporate finance. In this paper, we test the investment cash flow sensitivity among panel data of American industrial firms during 1999-2010. Using Q-model of investment (Tobin, 1969, we construct and introduce a proxy of managerial optimism following Malmendier and Tate (2005a to show the impact of CEOs’ optimism in the relationship between investment and internal cash flow. Our results report a positive and significant coefficient of investment to cash flow for the full sample. While, on estimations of our model using sub-sample of more and less constrained firms, we find that the sensitivity exists stronger only for totally constrained group. We find also that board characteristics can reduce investment policy’s distortions.

  9. The nutrition and health impact of cash cropping in west Africa: a historical perspective.

    Science.gov (United States)

    Brun, T A

    1991-01-01

    The impact of cash cropping in West Africa cannot be isolated from its social and historical background. Among the many changes brought to West African economies by cash cropping since the beginning of the century, the present document shows how the extension of trade with European merchants and colonizers created new sets of values and criteria for wealth. Food crops gradually lost their prominent cultural and economics roles to the benefit of export crops or goods. Traditional systems of agricultural production were profoundly disrupted by military actions. They imposed colonial rule and control of trade of tropical crops and goods. Forced labor and compulsory (poorly paid) work assignments were instituted for private and public enterprises: construction of roads, railways, public buildings and plantations. The main justification was the need for cheap labor to cultivate, transport and build roads for the extraction of raw materials. This in turn caused massive migrations from countries such as Burkina Faso (Upper Volta) to Ivory Coast. Cash cropping made systematic collection of taxes possible. An imposition on a per capita basis became the rule and the major incentive of small farmers to engage in commercial farming. Cash cropping made also possible extensive monetarization of West Africa. This results in both favorable and unfavorable effects on the quality of the diet. In profoundly disrupted traditional societies, the diffusion of new consumption patterns was easier and faster. It led to massive food imports of wheat, rice, sugar, alcohol, etc. Cash cropping was (and still is) practiced as a 'mining' agriculture, exhausting soils and deteriorating their fertility for extended periods of time. In the Sudanian and Sahelian zones cash cropping conflicted with the cultivation of grains because peak demands for labor were similar. Therefore, millet and sorghum production declined. Cash cropping was developed in response to the need of European economies for

  10. Land grab. More investors offer hospitals cash for their real estate as providers hunt for capital.

    Science.gov (United States)

    Evans, Melanie

    2011-03-07

    More real estate investors are offering hospitals cash for real estate as providers tap into their assets for capital. But if REITs are banking on providers cashing in their real estate chips, that's not happening yet, says Mike O'Keefe, left, of Navigant Consulting. The capital flooding into healthcare real estate has met with a limited supply of sellers. "That's what's driving some of this consolidation," O'Keefe said.

  11. The value relevance of direct cash flows under international financial reporting standards

    OpenAIRE

    Clacher, I.; de Ricquebourg, AD; Hodgson, A.

    2013-01-01

    This study examines if there has been a change in the value relevance of direct cash flow components since the adoption of International Financial Reporting Standards (IFRS) in Australia. Our results show that for both industrial and extractive firms direct cash flow statements are value relevant under Australian Generally Accepted Accounting Principles (AGAAP) and remain so after the adoption of IFRS. In addition, for industrial firms there is a significant increase in the value relevance of...

  12. Community-based capital cash transfer to support orphans in Western Kenya

    DEFF Research Database (Denmark)

    Skovdal, Morten; Mwasiaji, W.; Morrison, J.

    2008-01-01

    Various types of 'cash transfer' are currently receiving much attention as a way of helping orphans and vulnerable children in Africa. Drawing on a qualitative study conducted in Western Kenya, this paper points to the strategy of community-based capital cash transfers (CCCT) as a particularly...... that the programme not only increased food availability, but also enhanced social capital. Further research is needed to explore the potential of CCCT in supporting orphans and vulnerable children in countries with high orphanhood rates....

  13. Improvements of the cash-flow statement control function in financial reporting

    Directory of Open Access Journals (Sweden)

    Metka Duhovnik

    2008-06-01

    Full Text Available On the basis of deductive considerations applying professional judgement, the article focuses on the additional value of accounting information that can be given to the users of fi nancial statements by a properly prepared statement of cash fl ows. It is based on the fi nding that the professional literature is inconsistent in distinguishing liquidity and profi tability information, and consequently also in distinguishing between the ratios calculated on that basis. It therefore stimulates an improvement in the quality of accounting information with a direct statement of cash fl ows, based on tracing instead of calculating the actual cash fl ow. On the basis of fi nancial statements, including a direct statement of cash fl ows, the ratio analysis of fi nancial statements should be approached from both aspects of profi tability and cash return. The cash fl ow ratios would serve as a control mechanism over the assumptions used when preparing the balance sheet and income statement within the chosen financial reporting framework.

  14. Family control,institutional environment and cash dividend policy:Evidence from China

    Institute of Scientific and Technical Information of China (English)

    Zhihua; Wei; Shinong; Wu; Changqing; Li; Wei; Chen

    2011-01-01

    Using a sample of 1486 Chinese A-share listed companies for the period 2004-2008,this study empirically tests the impact of family control,institutional environment and their interaction on the cash dividend policy of listed companies.Our results indicate that(1)family firms have a lower cash dividend payout ratio and propensity to pay dividends than non-family firms;(2) a favorable regional institutional environment has a significant positive impact on the cash dividend payout ratio and propensity to pay dividends of listed companies;and(3) the impact of the regional institutional environment on cash dividends is stronger in family firms than in non-family firms.Somewhat surprisingly,we find that controlling family shareholders in China may intensify Agency Problem Ⅰ(the owner-manager conflict) rather than Agency Problem Ⅱ(the controlling shareholder-minority shareholder conflict),and thus have a significant negative impact on cash dividend policy.In contrast,a favorable regional institutional environment plays a positive corporate governance role in mitigating Agency Problem 1 and encouraging family firms to pay cash dividends.

  15. STATEMENT OF CASH FLOWS - A MEASURE OF OPERATIONAL PERFORMANCE ON AN ACCRUAL BASIS

    Directory of Open Access Journals (Sweden)

    GHEORGHE LEPADATU

    2011-04-01

    Full Text Available Statement of cash flows presents useful information about changing the company's financial position, allowing to assess the enterprise’s ability to generate future cash flows and cash equivalents in the operating, investing and financing activities and their appropriate use. Treasury of an economic entity can be considered its strong point. The manner in which they manage money and financial flows, the final outcome will depend on the respective entity. Treasury is also an essential and main restriction of the financial management of the enterprise. Treasury embodies the results of operations and how to achieve financial balance of compliance. Not always an entity that ends year with benefits, has a positive cash (cash at bank and in availability. And this, because the gap between the recording and accounting of revenue and expenditure receipts and payments as they fall due, that gap can be decisive for the fate of the enterprise. This is a major requirement of the accrual. Therefore, an efficient management of the economic entity comprises both the asset management flows (revenues / expenses and cash management, i.e. the flows of receipts and payments. The statistical evidence shows that most of the failures are due to weaknesses in treasury management.

  16. The use of cash transfers for HIV prevention--are we there yet?

    Science.gov (United States)

    Taaffe, Jessica; Cheikh, Nejma; Wilson, David

    2016-01-01

    Poverty and social inequality are significant drivers of the HIV epidemic and are risk factors for acquiring HIV. As such, many individuals worldwide are at risk for new HIV infection, especially young women in East and Southern Africa. By addressing these drivers, social protection programmes may mitigate the impact of poverty and social inequality on HIV risk. There is reason to believe that social protection can be used successfully for HIV prevention; social protection programmes, including cash transfers, have led to positive health outcomes and behaviour in other contexts, and they have been used successfully to promote education and increased income and employment opportunities. Furthermore, cash transfers have influenced sexual behaviour of young women and girls, thereby decreasing sexual risk factors for HIV infection. When HIV outcomes have been measured, several randomised controlled trials have shown that indirectly, cash transfers have led to reduced HIV prevalence and incidence. In these studies, school attendance and safer sexual health were directly incentivised through the cash transfer, yet there was a positive effect on HIV outcomes. In this review, we discuss the growth of social protection programmes, their benefits and impact on health, education and economic potential, and how these outcomes may affect HIV risk. We also review the studies that have shown that cash transfers can lead to reduced HIV infection, including study limitations and what questions still remain with regard to using cash transfers for HIV prevention.

  17. Does Cash Contribute to Value? A Comparison of Constrained and Unconstrained Firms in China and Germany

    Directory of Open Access Journals (Sweden)

    Wei Zhang

    2015-11-01

    Full Text Available A fundamental characteristic of emerging markets is the underdevelopment of legal institutions and financial markets. Therefore, the marginal value of a firm’s cash holdings in emerging countries can be lower than 1, due to high agency costs resulting from poor external corporate governance. However, the marginal value of cash may also be high in emerging markets because the information asymmetry between current and new providers of funds is high, which means that it is difficult to access the (low quality capital markets. We study for the industrialized countries of China and Germany whether corporate cash holdings contribute to shareholder value in both constrained and unconstrained firms. In contradiction to previous literature on emerging markets, we find that the marginal value of cash is not smaller than 1 in China, so that agency costs do not dominate. We, however, find marginal values of cash lower than 1 for unconstrained firms in both countries, implying that in these firms agency costs of cash holdings exist. For constrained firms we find marginal values significantly larger than 1 in both countries. This indicates difficulties in accessing the financial markets for these firms. These difficulties prove to be larger in China than in Germany for small and service firms, but not for high growth firms.

  18. A study on the effects of banks’ cash management on their share value

    Directory of Open Access Journals (Sweden)

    Syed Behzad Zakaria

    2014-09-01

    Full Text Available Banking industry, which is closely associated with the invention and spread of the money, influences on economic growth and development. The main role of the banking system is to create a saving of deposits and using it in beneficial investments or lending it to different people with various investment purposes. Accordingly, banks play essential role as financial intermediaries and provide necessary funds from investors to borrowers and users. In this regard, appropriate management of cash flows is essential for banks. Cash management is a trade-off between risk and return like what happens in other kinds of managements meaning that improving cash management increases the cash considering the limited amount of resources and eventually increases the share of the financial institution. In this paper, the impact of cash management in Iranian banks on their value of stock in 2011 was examined based on the econometrics model and least-square technique. The results indicate a significant and positive impact of the increase in the cash management index on the banks’ stock value, meaning that a one percent increase in this index will increase 1.1 percent of the banks’ stock value.

  19. International evidence of nexus between positive operating cash activities and cost of debt

    Directory of Open Access Journals (Sweden)

    Harit Satt

    2015-08-01

    Full Text Available This paper identifies the affiliation between the ending cash balance of the operating section in the cash flow statement and the bonds ratings. Our sample includes 600 companies from 26 countries. The study was conducted over a period of 18 years. An Ordered Probit regression analysis had been applied to identify how the positive cash balance of the operating section in the cash flow statement shapes the probability of escalating the bonds ratings. We find burly proof that the positive operating cash balance considerably affects the bonds ratings. In other words, when a company is able to generate enough cash from its main operating activities, the likelihood of having higher bonds ratings raises;  this entails a low cost of debt since higher bond ratings have been proven to lessen the company’s cost for raising funds (in the form of bonds. The results add more confirmation to the creditors’ rights shields and how it affects the cost of debt.

  20. Invoicing and Financial Forecasting of Time and Amount of Corresponding Cash Inflow

    Directory of Open Access Journals (Sweden)

    Dragan Simić

    2011-09-01

    Full Text Available Cash is the centre of all financial decisions. It is used as basis for the future investment projections and enterprises' financial plans. A concept of intelligent system for financial forecasting, the dynamic of issuing invoices and receiving corresponding cash inflow for fair exhibitions is presented in this article. This intelligent system is based on artificial intelligent method case-based reasoning (CBR where the previous experience for new forecasting is taken into account. This research is a discussion about the problem of invoice curve and the corresponding cash inflow curve at the moment of the fair exhibition. The invoice curve reaches its saturation point, while the cash inflow curve is still far away from the saturation point. The solution to this problem is the saturation point for the cash inflow curve. Therefore managers want to know how high the cash inflow of some services would at a certain point of time in the future, with respect to invoicing. If they could predict reliably enough what would happen in the future, they could plan important business activities to ensure faster invoiced income and future activities. Methodological aspects have been tested, in practice, as a part of the management information system development project for Novi Sad Fair company.

  1. VOLUNTARY DISCLOSURE OF CASH FLOWS INFORMATION AND COMPANY'S CHARACTERISTICS: EVIDENCE FROM THE CROATIAN CAPITAL MARKET

    Directory of Open Access Journals (Sweden)

    Željana Aljinović Barać

    2012-12-01

    Full Text Available This paper focuses on the voluntary disclosure of cash flows information of Croatian large companies whose shares are listed on the Zagreb Stock Exchange, with the aim to identify characteristics of companies that provide extensive disclosures. In order to conduct the research and test the likelihood that company publicly announces wealth of information about cash flows, three groups of company’s features are defined as variables: accounting data, capital market information and company’s qualitative characteristics. Verification of empirical evidence was provided through the sample of Croatian listed companies using logistic regression analysis. Obtained results indicate that despite the desire of the regulatory authorities that capital market investors receive all relevant information, companies voluntarily disclose information about cash flows very rarely. Those companies are young (i.e. their shares are listed on an organized securities market for a short time and profitable, with growing net income and growing cash flow from operating activities and usually use indirect method for operating cash flow report. The provision of features of Croatian companies that voluntary disclose cash flow information can be found as contribution of our research, because this topic in a cases of macro-oriented accounting system economies, i.e. bank oriented economies with emerging capital market is still unexplored.

  2. The impact of conditional cash transfers on marriage and divorce.

    Science.gov (United States)

    Bobonis, Gustavo J

    2011-01-01

    A growing number of less-developed countries have introduced conditional cash transfer programs in which funds are targeted to women. Economic models of the family suggest that these transfer programs may lead to marital turnover among program beneficiaries. Data from the experimental evaluation of the PROGRESA program in Mexico is used to provide new evidence on the short-run impacts of targeted transfers on couples' union dissolution and individuals' new union formation decisions. We find that, although the overall share of women in union does not change as a result of the program, marital turnover increases. Intact families eligible for the transfers experienced a modest (0.32 percentage points) increase in separation rates, with most of the effect concentrated among young and relatively educated women households. In contrast, young single women with low educational attainment levels experienced a substantial increase in new union formation rates. The marital transition patterns are consistent with the workhorse economic model of the marriage market-individuals with the greatest prospects to start new unions and those who may become more attractive in the marriage market are more likely to transition out of existing relationships and form new ones.

  3. Small farms, cash crops, agrarian ideals, and international development.

    Science.gov (United States)

    Effland, Anne

    2010-01-01

    This address is an exploration of a lifetime of disparate and often conflicting observations about how different people view what is right and good for agriculture, food, and farmers around the world. The exploration utilizes the concept of wicked problems to focus on the issue of differing historical interpretations of global agricultural development. Sandra Batie defines wicked problems as "dynamically complex, ill-structured, public problems" for which "there can be radically different views and understanding of the problem by different stakeholders, with no unique 'correct' view." The wicked problem construct is applied to four core ideas in the history of agricultural development -- small farms, cash crops, agrarian ideals, and international development -- to demonstrate the potential for using this concept to approach complex problems of historical interpretation and contribute to solutions to the challenges of global agricultural development. The author suggests historians should acknowledge contradictory interpretations adn work toward reconciliation and synthesis, where it is possible and, where not, toward a clear explication of the basis for remaining differences. The author also encourages historians to seek multidisciplinary research opportunities that will help bring insights about historical context to policy deliberations.

  4. Evidence of eligibility manipulation for conditional cash transfer programs

    Directory of Open Access Journals (Sweden)

    Sergio Firpo

    2014-09-01

    Full Text Available This paper assesses whether eligibility for conditional cash transfer programs has been manipulated, as well as the impact of this phenomenon on time allocation within households. To perform this analysis, we use data from the 2006 PNAD (Brazilian national household survey and investigate the eligibility manipulation for the Bolsa Família (Family Stipend program during this time period. The program assists families with a monthly per capita income of around R$120.00 (US$60.00. By applying the tests developed by McCrary (2008, we find suggestive evidence that individuals manipulate their income by voluntarily reducing their labor supply in order to become eligible to the program. Moreover, the reduction in labor supply is greater among women, especially single or divorced mothers. This evidence raises some concern about the unintended consequences related to the eligibility criteria utilized by Bolsa Família, as well as the program's impact on individuals living in extreme poverty.

  5. Perceived impact of Ghana's conditional cash transfer on child health.

    Science.gov (United States)

    Owusu-Addo, Ebenezer

    2016-03-01

    A plethora of studies from sub-Saharan Africa indicate that orphaned and vulnerable children are exposed to adverse health, education and other social outcomes. Across diverse settings, conditional cash transfer (CCT) programmes have been successful in improving health outcomes amongst vulnerable children. This study explored the pathways of CCTs' impact on the health of orphans and vulnerable children in rural Ghana. Due to the multi-dimensional nature of CCTs, the programme impact theory was used to conceptualize CCTs' pathways of impact on child health. A qualitative descriptive exploratory approach was used for this study. This study drew on the perspectives of 18 caregivers, 4 community leaders and 3 programme implementers from two rural districts in Ghana. Semi-structured individual interviews were conducted with the participants. Thematic content analysis was conducted on the interview transcripts to pull together core themes running through the entire data set. Five organizing themes emerged from the interview transcripts: improved child nutrition, health service utilization, poverty reduction and social transformation, improved education and improved emotional health and well-being demonstrating the pathways through which CCTs work to improve child health. The results indicated that CCTs offer a valuable social protection instrument for improving the health of orphans and vulnerable children by addressing the social determinants of child health such as nutrition, access to health care, child poverty and education.

  6. CERN Fellows, don’t splash that cash!

    CERN Multimedia

    Anaïs Schaeffer

    2013-01-01

    When their CERN contracts expire and they leave the Organization, Fellows recoup the amounts paid into the Pension Fund by and for them every month. If they invest this money well, right from the outset, it can grow into a nice little nest-egg by the time they reach retirement age.   As employed members of the CERN personnel, Fellows are members of the Organization’s Pension Fund. Accordingly, a specific amount is withheld from their salary every month (see first box) and, as the months go by, this gradually accumulates into their transfer value (i.e. their capital). When their contracts expire, Fellows may opt to transfer that money directly into another pension fund (subject to the national laws of the destination country and, unfortunately, not possible everywhere), or take it in cash. This is because only employed members of the personnel who have at least five years of service with the Organization are entitled to remain beneficiaries of the CERN Pension Fund for life*. But the capi...

  7. El campo de Boyacá y sus monumentos

    Directory of Open Access Journals (Sweden)

    Abel Cruz Santos

    1969-01-01

    Full Text Available No sé si será por los años que estoy siguiendo, con cierta melancolía, la remodelación o, como dicen algunos, la urbanización del Campo de Boyacá. Me vinculé a ese histórico lugar en 1940, cuando ocupaba en el gabinete del presidente Eduardo Santos "cierto empleo", para usar el eufemismo de don Luciano Pulgar. Con los exiguos recursos de aquella época, valiéndomede traslados presupuestales, se sacó entonces al Campo de Boyacá de la situación de abandono en que se hallaba, convirtiéndolo en lugar decoroso para turistas nacionales y extranjeros.

  8. A Geografia, surgimento de um campo científico

    OpenAIRE

    Confins,

    2016-01-01

    Este livro se situa no cruzamento da história, da história da ciência e da geografia. Ele questiona o momento no qual, entre 1780 e 1860, a geografia se estrutura gradualmente em campo científico e acadêmico independente na Europa, e em especial na França, na Prússia e na Grã-Bretanha. Ao mesmo tempo, nos três países, geógrafos trabalham para que seu campo de estudo seja finalmente considerado como uma ciência de pleno exercício. Este processo de construção científica é profundamente marcado ...

  9. Relações de Trabalho no Campo

    Directory of Open Access Journals (Sweden)

    Moema Miranda de Siqueira

    2010-12-01

    Full Text Available A partir de um modelo de análise de Relações de Trabalho, este estudo pretende identificar características do trabalho no campo, no Brasil, e as tendências para o trabalho feminino no futuro próximo.  A escolha do setor justifica-se por sua representatividade e especificidade no conjunto da força de trabalho brasileira e a segmentação por gênero pela participação, historicamente, de menores oportunidades do grupo feminino. Para aprofundar alguns pressupostos baseados em estatísticas macroeconômicas, foi realizado um levantamento junto a um grupo de trabalhadoras do campo, de um pequeno município de região cafeicultora do sul de Minas Gerais.

  10. El campo de la economía

    Directory of Open Access Journals (Sweden)

    Gabriel Misas Arango

    2007-12-01

    Full Text Available Este ensayo examina el funcionamiento del campo de la economía, entendido como el espacio de producción simbólica de conocimientos económicos y las redes de distribución de esos conocimientos; analiza pues las relaciones entre los agentes productores y las instituciones involucradas. La economía es un campo científico con débil autonomía, debido a su profunda inserción en las relaciones sociales, y sufre fuertes presiones de fuerzas externas para problematizar unos temas e ignorar otros. Como resultado, la ciencia económica es una construcción social de una construcción social.

  11. Augusto de Campos as translator of Emily Dickinson

    Directory of Open Access Journals (Sweden)

    Fernanda Maria Alves Lourenço

    2015-12-01

    Full Text Available This article aims at analysing the translation of two poems by Emily Dickinson (1830-1886 carried out by Augusto de Campos (1931 and published in 2008 inthe collected writings Emily Dickinson: Não sou ninguém [“Emily Dickinson: I’m nobody”]. Firstly, some elements of Dickinson’s poetic shall be set forth, relying on Gilbert and Gubar (1984, Donoghue (1969, Sewall (1963, and Daghlian (1987. Afterwards, Augusto de Campos’ figure as a poet and translator shall be highlighted, emphasizing his comments on translation as to understand his translation practice (Campos, 2004; 2006; 2008. Finally, Augusto de Campos’ translation of two poems by Dickinson shall be analysed as to identify the relationship between translator’s theory and the practice. This rather discursive analysis, besides the syntactic and formal plan, endeavors to focus on the textual semantic layer, with no intentions to deploy any prescriptive judgments.

  12. Reserve growth during financial volatility in a technologically challenging world

    Science.gov (United States)

    Klett, Timothy R.; Gautier, Donald L.

    2010-01-01

    Reserve growth (growth-to-known) is the addition of oil and gas quantities to reported proved or proved-plus-probable reserves in discovered fields. The amount of reserve growth fluctuates through time with prevailing economic and technological conditions. Most reserve additions are the result of investment in field operations and in development technology. These investments can be justified by higher prices of oil and gas, the desire to maintain cash flow, and by greater recovery efficiency in well established fields. The price/cost ratio affects decisions for field abandonment and (or) implementation of improved recovery methods. Although small- to medium-size fields might show higher percentages of reserve growth, a relatively few giant fields contribute most volumetric reserve growth, indicating that companies may prefer to invest in existing fields with low geologic and production risk and an established infrastructure in order to increase their price/cost relationship. Whereas many previous estimates of reserve growth were based on past trends of reported reserves, future reserve growth is expected to be greatly affected by financial volatility and fluctuating economic and technological conditions.

  13. Replacing reserve requirements

    OpenAIRE

    Edward J. Stevens

    1993-01-01

    An examination of the fading significance of the Federal Reserve System's reserve requirements and the recent flowering of required clearing balances, a rapidly growing feature of Reserve Bank operations.

  14. Replacing reserve requirements

    OpenAIRE

    Edward J. Stevens

    1993-01-01

    An examination of the fading significance of the Federal Reserve System's reserve requirements and the recent flowering of required clearing balances, a rapidly growing feature of Reserve Bank operations.

  15. New records of Muscidae (Diptera) in Campo Grande, MS, Brazil.

    OpenAIRE

    2013-01-01

    Synanthropic flies outstanding beside other flies due their relative abundance close to domestic animals and human population, to which they are able to cause myiasis or transmit pathogenic agents. As they're necrophagous they act as corpse decomposers and are useful in the forensic entomology in the post mortem interval determination. This study aimed to know flies diversity and abundance in Campo Grande, State of Mato Grosso do Sul. Captures were made weekly, utilizing three traps baited wi...

  16. O mato & o asfalto: Campos da Antropologia no Brasil

    Directory of Open Access Journals (Sweden)

    Mariza Corrêa

    2011-06-01

    Full Text Available O artigo é um breve apanhado sobre o campo da antropologia no Brasil. Feito originalmente para leitores estrangeiros, pareceu-me melhor deixá-lo como estava a atualizá-lo, na expectativa de que possa ser útil para jovens iniciantes nesse campo, já que o texto refere algumas instituições importantes para a sua formação nos últimos anos — como os programas de pós-graduação e a Associação Brasileira de Antropologia (ABA, e seus temas de pesquisa. Propõe-se aqui também que não apenas a interdisciplinaridade, bastante praticada hoje, mas também relações transversais ao próprio campo da antropologia são desejáveis — isto é, que os antropólogos “urbanos” levem em conta o que dizem os etnólogos, que estes dialoguem com os estudos de gênero etc. De todo modo, a bibliografia incluída ainda é, e continuará a sê-lo por um bom tempo, leitura necessária para pesquisadores que se interessem pela história da antropologia.

  17. Helping enhances productivity in campo flicker ( Colaptes campestris) cooperative groups

    Science.gov (United States)

    Dias, Raphael Igor; Webster, Michael S.; Macedo, Regina H.

    2015-06-01

    Reproductive adults in many bird species are assisted by non-breeding auxiliary helpers at the nest, yet the impact of auxiliaries on reproduction is variable and not always obvious. In this study, we tested Hamilton's rule and evaluated the effect of auxiliaries on productivity in the facultative cooperative breeder campo flicker ( Colaptes campestris campestris). Campo flickers have a variable mating system, with some groups having auxiliaries and others lacking them (i.e., unassisted pairs). Most auxiliaries are closely related to the breeding pair (primary auxiliaries), but some auxiliaries (secondary auxiliaries) are unrelated females that joined established groups. We found no effect of breeder quality (body condition) or territory quality (food availability) on group productivity, but the presence of auxiliaries increased the number of fledglings produced relative to unassisted pairs. Nonetheless, the indirect benefit of helping was small and did not outweigh the costs of delayed breeding and so seemed insufficient to explain the evolution of cooperative breeding in campo flickers. We concluded that some ecological constraints must limit dispersal or independent breeding, making staying in the group a "best-of-a-bad-job" situation for auxiliaries.

  18. Las dimensiones del campo de la salud en Argentina

    Directory of Open Access Journals (Sweden)

    Hugo Spinelli

    2010-01-01

    Full Text Available En este texto se desarrolla la configuración del campo de la salud, sus agentes y los capitales en juego, así como los perfiles epidemiológicos y los problemas y desafíos que enfrentan los trabajadores, los gestores y los gobernantes. También nos interrogamos sobre la existencia de políticas o metapolíticas, señalando el carácter normativo de las políticas que llevan a la ausencia de pensamiento sobre las mismas porparte de los actores/agentes y de los usuarios, y por ende a reafirmar la razón instrumental. Al final, y con el propósito de explorar nuevas formas organizativas para el campo,se abordan los territorios de las metapolíticas a través del análisis del trabajo, la organización, la gestión y el gobierno como dimensiones a ser pensadas, de manera de posibilitar acciones destinadas a configurar nuevos actores y/o estructuras, más allá de "las políticas". El propósito que se persigue es el de poder pensar la situación actual del campo de la salud, contextualizado en el Sur, en función de acciones emancipadoras.

  19. The financial determinants of corporate cash holdings in an oil rich country: Evidence from Kingdom of Saudi Arabia

    Directory of Open Access Journals (Sweden)

    Muncef Guizani

    2017-09-01

    Full Text Available This paper investigates the determinants of the cash holdings for a sample of Saudi firms over the period 2006–2014, using static and dynamic panel models. Our results show that leverage, firm size, capital expenditure, net working capital and cash flow volatility are important in determining cash holdings. When we divide our sample into two sub-samples: petrochemical and non-petrochemical firms, our results show a significant difference between the determinants of cash holdings of the two groups of firms. We also investigate the characteristics of high liquid firms (conservative firms. The results indicate that conservative firms are less leveraged, have large size, have low investment expenditures and have low cash flow fluctuation. Furthermore, dynamic panel estimation indicates that Saudi firms adjust their liquidity holdings quickly towards an endogenous target cash ratio.

  20. Sistemas Correctores de Campo Para EL Telescopio Cassegrain IAC80

    Science.gov (United States)

    Galan, M. J.; Cobos, F. J.

    1987-05-01

    El proyecto de instrumentación de mayor importancia que ha tenido el Instituto de Astrofisica de Canarias en los últimos afios ha sido el diseflo y construcción del te1escopio IAC8O. Este requería del esfuerzo con junto en mec´nica, óptica y electrónica, lo que facilitó la estructuración y el crecimiento de los respectivos grupos de trabajo, que posteriormente se integraron en departamentos En su origen (1977), el telescopio IAC80 fue concebido como un sistema clásico tipo Cassegrain, con una razón focal F/i 1.3 para el sistema Casse grain y una razón focal F/20 para el sistema Coudé. Posteriormente, aunque se mantuvo la filosofia de que el sistema básico fuera el F/11.3, se consideró conveniente el diseño de secundarios para razones focales F/16 y F/32, y se eliminó el de F/20. Sin embargo, dada la importancia relativa que un foco estrictamente fotográfico tiene en un telescopio moderno, diseñado básicamente para fotometría fotoeléctrica y con un campo util mínimamente de 40 minutos de arco, se decídió Ilevar a cabo el diseño de un secundario F/8 con un sistema corrector de campo, pero que estuviera formado únicamente por lentes con superficies esféricas para que asl su construcción fuera posible en España ó en México. La creciente utilización de detectores bidimensionales para fines de investigación astron6mica y la viabilidad de que en un futuro cercano éstos tengan un área sensible cada vez mayor, hicieron atractiva la idea de tener diseñado un sistema corrector de campo para el foco primario (F/3), con un campo útil mínimo de un grado, y también con la limitante de que sus componentes tuvieron sólamente supérficies esféricas. Ambos diseños de los sis-temas correctores de campo se llevaron a cabo, en gran medida, como parte de un proyecto de colaboración e intercambio en el área de diseño y evaluación de sistemas ópticos.

  1. Modeling and identification of new complementary development opportunities in a Campos Basin offshore giant field; Modelagem e identificacao de novas oportunidades de desenvolvimento complementar de um campo gigante na Bacia de Campos

    Energy Technology Data Exchange (ETDEWEB)

    Gomes, Jose Adilson T.; Steagall, Daniel E.; Lorenzatto, Rudimar Andreis [PETROBRAS, Rio de Janeiro, RJ (Brazil)

    2004-07-01

    The objective of this paper is to present the methodology that has been used for the complementary development of the giant Marlin oil field in the Campos Basin, with the study of the opportunities of new wells and application of new technologies for the enhancement of production, recovery factor and the gain of reserves. This methodology is applied integrating geophysics, geology, engineering, planning and operation, containing: identification of the non drained areas, positioning of new locations, risk analysis, reduction risk analysis actions, production estimation, attractive location selection; conceptual well project with location of the well head, submarine layout, drilling program, multiphase flow curves; drilling schedule, completion, and production commencement; production forecasting with flux simulation using operational reality of the oil, gas, and water treatment production capacity; wells substitution and deviation criteria; project critical resources and preliminary economical evaluation including project risk. The obtained results were the optimization of the project portfolio of new wells considering the identification of new opportunities, schedule and entrance order of wells, helping also in the acquisitions of new data for reservoir risk reduction before project implementation. (author)

  2. Cash transfer and microfinance interventions for tuberculosis control: review of the impact evidence and policy implications.

    Science.gov (United States)

    Boccia, D; Hargreaves, J; Lönnroth, K; Jaramillo, E; Weiss, J; Uplekar, M; Porter, J D H; Evans, C A

    2011-06-01

    To quantify the impact of cash transfer and microfinance interventions on a selected list of tuberculosis (TB) risk factors and assess their potential role in supporting TB control. Published and unpublished references identified from clinical and social electronic databases, grey literature and web sites. Eligible interventions had to be conducted in middle- or low-income countries and document an impact evaluation on any of the following outcomes: 1) TB or other respiratory infections; 2) household socio-economic position; and 3) factors mediating the association between low household socio-economic position and TB, including inadequate health-seeking behaviours, food insecurity and biological TB risk factors such as human immunodeficiency virus (HIV) and adult malnutrition. Interventions targeting special populations were excluded. Fifteen cash transfer schemes (four unconditional and 11 conditional) and seven microfinance programmes met the eligibility criteria. No intervention addressed TB or any other respiratory infection. Of 11 cash transfer and four microfinance interventions, respectively seven and four reported a positive impact on indicators of economic well-being. A positive impact on household food security was documented in respectively eight of nine and three of five cash transfer and microfinance interventions. Improved health care access was documented respectively in 10 of 12 cash transfer and four of five microfinance interventions. The only intervention evaluating impact on HIV incidence was a microfinance project that found no effect. No cash transfer or microfinance interventions had an impact on adult malnutrition. Cash transfer and microfinance interventions can positively impact TB risk factors. Evaluation studies are urgently needed to assess the impact of these social protection interventions on actual TB indicators.

  3. Oil Reserve Center Established

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    Like other countries,China has started to grow its strategic oil reserve in case oil supplies are cut On December 18,2007,the National Development and Reform Commission(NDRC),China’s top economic planner,announced that the national oil reserve center has been officially launched.The supervisory system over the oil reserves has three levels: the energy department of the NDRC,the oil reserve center,and the reserve bases.

  4. Relevance of free cash flow as a measure of generating value for owners

    Directory of Open Access Journals (Sweden)

    Bešlić Ivana

    2014-01-01

    Full Text Available In the new economy or knowledge economy the main goal of any company should be directed towards the achievement of the business in the interest of the owners, or generating the value for owners. In dynamic business environment, an effective performance measurement system is key determinant of successful implementation of corporate strategy, growth and survival of the company. Modern performance measures should provide an accurate assessment of the intrinsic value of the company, as well as the value for the owners (shareholders. The essence is maximizing the immanent or guaranteed value of the company. The immanent value is the value of a company based on internal evaluation (assessment discounted cash flows or expected cash flow in the future by the management team. Corporate managers in Serbia are facing the challenge of increasingly efficient capital markets and the competition in the future, which requires the implementation of a value oriented corporate governance, therefore this paper presents FCF (Free Cash Flow methodology of valuation. Free cash flow (FCF is the amount of cash available for owners of the company after the necessary investments in fixed assets and working capital to maintain the current scope of activities and support to planning.

  5. A Multi-Objective Fuzzy Linear Programming Model for Cash Flow Management

    Directory of Open Access Journals (Sweden)

    A. M. El-Kholy

    2014-08-01

    Full Text Available Although significant research work has been conducted on cash flow forecast, planning, and management, the objective is constantly the maximization of profit/final cash balance, or minimization of total project cost. This paper presents a multi-objective fuzzy linear programming model (FLP for resolving the optimization problem of three conflicting objectives: final cash balance, cost of money, and initial cash balance. The proposed model depends on Jiang et al. (2011 Model. In the new formulation, both the advanced payment and delay of owner's progress payment one period were considered. Literature concerned with cash flow studies and models for construction projects was reviewed. Fuzzy linear programming applications in literature was presented and it's concept was then described. Jiang et al. (2011 Model is presented. The proposed model development was then presented. The proposed model was validated using an example project. An optimization of each individual objective was performed with a linear programming (LP software (Lindo that gave the upper and lower bounds for the multi-objective analysis. Fuzzy linear programming was then applied to optimize the solution. Four cases are considered: considering advanced payment and delay of owner's progress payment one period simultaneously, then separately, and neglecting advanced payment and delay of owner's progress payment. Penalty of delayed payment have been also considered. Analysis of the results revealed that the model is an effective decision making tool to be used by industry practitioners with reasonable accuracy.

  6. A study on relationship between earnings before tax, interest and operational cash flows with stockholders’ equity

    Directory of Open Access Journals (Sweden)

    Mohammad Reza karimi Torghabeh

    2014-08-01

    Full Text Available One of the primary economic issues is associated with optimum resource allocation in profitable investments with reasonable risk. For this purpose, performance measurement’s criteria are needed some of which emphasize cash flow variables and some others focus on information content of accounting profit. On this basis, this study examines the relationship between earnings before tax and interest and operational cash flows with stockholders’ return in Tehran Stock Exchange (TSE. In this regard, information asymmetry was also examined. To test hypotheses, multivariable regression and combined data method were used. The results showed that based on the information of 102 companies in stock market from 2004 to 2009, there was a positive and significant correlation between earnings before interest and tax and stock return in the companies. While, operational cash flow has no significant impact on stock return. Increasing information asymmetry, earnings before interest and tax has a positive and significant correlation with stockholders ’return; but operational cash flow has no significant effect on stockholders’ return. In other words, earnings before interest and tax have higher information content than operational cash flow.

  7. Tuberculosis pulmonar de campos inferiores Lower lung field tuberculosis

    OpenAIRE

    Alejandra González; Marcelo Fernández Casares; Matías Baldini; Alfredo Monteverde

    2010-01-01

    La tuberculosis (TB) que compromete sólo los campos pulmonares inferiores (TBCI) es poco frecuente en el adulto y en general está asociada a alguna causa de inmunodepresión. El objetivo de nuestro trabajo fue determinar la incidencia de TBCI en nuestra población y comparar sus características respecto de la TB pulmonar de localización habitual. Se estudiaron en forma retrospectiva en el período de 2004 a 2008, 42 pacientes con TBCI que fueron comparados con 84 pacientes con TB pulmonar de loc...

  8. El campo de la neurosis en la obra de Freud

    OpenAIRE

    Napolitano, Graziela Teresita

    2013-01-01

    Inauguramos con la presente obra la edición digital de nuestra producción académica. Hasta ahora, y desde hace más de 15 años, el equipo de docentes investigadores hemos publicado en formato papel nuestros trabajos en libros y revistas. Se abre en esta ocasión una nueva posibilidad de ampliar el alcance de nuestra enseñanza para los alumnos y lectores interesados en los problemas del campo de la Psicopatología. Celebramos por eso la iniciativa de la presidencia de la UNLP, por las importantes...

  9. AMS radiocarbon dating on Campos Basin, Southeast Brazilian Continental Slope

    Energy Technology Data Exchange (ETDEWEB)

    Macario, K.D.; Anjos, R.M.; Gomes, P.R.S. E-mail: paulogom@if.uff.br; Figueiredo, A.G.; Lacerda de Souza, C.; Barbosa, C.F.; Coimbra, M.M.; Elmore, D

    2004-08-01

    We present results on radiocarbon dating of foraminifera shell samples, collected on the upper slope of Campos Basin, in Southern Brazil. This is the first time that the sedimentation rate of this area is measured with a fine scale (cm) stratigraphy. {sup 14}C ages vary from (2560 {+-} 80) years. BP at the top to (7260 {+-} 80) years. BP at the bottom of the sediment column. The mean accumulation ratio for the whole column is (6.2 {+-} 0.7) cm/kyears.

  10. Reglas de enfrentamiento y gobierno del Campo de Agramante

    OpenAIRE

    Alía Plana, Miguel

    2016-01-01

    Las Reglas de Enfrentamiento (ROE) son aquellas órdenes dictadas a unidades militares para establecer las circunstancias, condiciones, grado y forma en que los combatientes están autorizados a usar la fuerza. El principal objetivo de esta tesis es investigar su naturaleza. Este concepto, contemporáneo y postmoderno, funciona como el definidor y regulador del metafórico “Campo de Agramante”, en tanto que crea el “espacio del conflicto y de la batalla”, que tiene naturaleza operacional, física,...

  11. Proyecto AGROECO, Informes y Avances en Campo 2011-2012

    OpenAIRE

    2013-01-01

    El proyecto Intensificación ecológica y socioeconómica de la pequeña agricultura andina (AGROECO) es un proyecto de investigación-acción que buscar analizar y explicar los efectos de la práctica agroecológica en la seguridad alimentaria de las familias campesinas y de pequeña agricultura andina. Es financiado por el Fondo Canadiense de Investigación Internacional en Seguridad Alimentaria (CIFSRF) y se desarrolla entre 2011 y 2014 con acciones de campo en las regiones de Cusco y Cajamarca en l...

  12. Creencias tradicionales y campos electromagnéticos

    OpenAIRE

    Ross, Colin A.

    2011-01-01

    El autor propone que existe una serie de creencias y prácticas tradicionales que pueden proporcionar pistas acerca de la interacción de campos electromagnéticos en la biosfera. Por ejemplo, la creencia en el mal de ojo puede ser una construcción cultural relacionada con la sensación de estar siendo observado, pero a su vez puede estar basada en las emisiones de ondas electromagnéticas a través de los ojos. En este artículo se presentan datos para apoyar esta hipótesis. Otras creencias tradici...

  13. Métodos reactivos basados en campos potenciales para UAVs

    OpenAIRE

    Mera Prieto, Carmen

    2015-01-01

    Este trabajo presenta un método reactivo para evitar colisiones de vehículos aéreos no tripulados (Unmanned Aerial Vehicles, UAVs, en inglés) mofificando la trayectoria. El método reactivo implementado está basado en campos potenciales. El objetivo es que cualquier vehículo aéreo no tripulado (UAV) alcance las posiciones deseadas desde una posición de inicio y siguiendo un plan de vuelo, evitando las posibles colisiones con el entorno que se detecten durante el vuelo. Se ha rea...

  14. CASH FLOW – AN INSTRUMET FOR ANNALYSING AND DETERMINING THE VALUE OF AN ENTERPRISE

    Directory of Open Access Journals (Sweden)

    Valentina Dorina BOGDAN

    2015-11-01

    Full Text Available The purpose of this thesis is to understand the logic of the approach based on income and the methods included in this approach. Reading through this paper must provide us with the ability to choose and correctly apply the methods presented in order to estimate the enterprise value. Understanding the method cash - flow update – is conditioned by the differentiation between collection and income, fees and expenses. The profit is the result of comparing revenues and expenses. Not all revenue generate collection at the same time; not all expenses generate payments. Their registration into accounting is delayed. Cash-flow is the evolution of the availability of funds in itself of the company, the evolution of the net treasury. In summary, we note that approach based on income estimates an enterprise value by converting future streams of income in the present value of an enterprise which can generate those cash flows.

  15. A Fair Off-Line Electronic Cash Scheme Based on Restrictive Partially Blind Signature

    Institute of Scientific and Technical Information of China (English)

    王常吉; 吴建平; 段海新

    2004-01-01

    A fair off-line electronic cash scheme was presented based on a provable secure restrictive partially blind signature.The scheme is more efficient than those of previous works as the expiry date and denomination information are embedded in the electronic cash,which alleviates the storage pressure for the bank to check double spending,and the bank need not use different public keys for different coin values,shops and users need not carry a list of bank's public keys to verify in their electronic wallet.The modular exponentiations are reduced for both the user and the bank by letting the trustee publish the public values with different structure as those of previous electronic cash schemes.The scheme security is based on the random oracle model and the decision Diffie-Hellman assumption.The scheme can be easily extended to multi-trustees and multi-banks using threshold cryptography.

  16. Dual-System Families: Cash Assistance Sequences of Households Involved with Child Welfare.

    Science.gov (United States)

    Kang, JiYoung; Romich, Jennifer L; Hook, Jennifer L; Lee, JoAnn S; Marcenko, Maureen

    2016-01-01

    Dual-system families, those involved with the child welfare system and receiving public cash assistance, may be more vulnerable than families only connected to either of the two systems. This study advances our understanding of the heterogeneous and dynamic cash assistance histories of dual-system families in the post-welfare reform era. With merged administrative data from [state name removed] over the period 1998 to 2009, we use cluster analysis to group month-to-month sequences of cash assistance use among households over the 37-month period surrounding child removal. Close to two thirds of families who received any assistance either had a short spell of Temporary Assistance for Needy Families (TANF) or lost TANF. Smaller percentages had steady support. Families who lose assistance are less likely than average to reunify while those who connect to benefits are more likely, suggesting coordination between systems may serve dual-system families well.

  17. Do business groups affect corporate cash holdings?Evidence from a transition economy

    Institute of Scientific and Technical Information of China (English)

    Weixing Cai; Cheng(Colin) Zeng; Edward Lee; Neslihan Ozkan

    2016-01-01

    We examine whether business groups’ influence on cash holdings depends on ownership. Group affiliation can increase firms’ agency costs or benefit firms by providing an internal capital market, especially in transition economies characterized by weak investor protection and difficult external capital acquisition. A hand-collected dataset of Chinese firms reveals that group affiliation decreases cash holdings, alleviating the free-cash-flow problem of agency costs.State ownership and control of listed firms moderate this benefit, which is more pronounced when the financial market is less liquid. Group affiliation facilitates related-party transactions, increases debt capacity and decreases investmentcash-flow sensitivity and overinvestment. In transitional economies, privately controlled firms are more likely to benefit from group affiliation than statecontrolled firms propped up by the government.

  18. A Survey Study on Customer Experience in Banking Cash Management Products and, Participation Banking Example

    Directory of Open Access Journals (Sweden)

    Cüneyt DİRİCAN

    2016-04-01

    Full Text Available Banking as a safe bridge of risk management balances relation between deposit and loan. In the growing trend of interest-free banking Turkey practice, Participation Banking is working to fix the expectations of customers with reasonable solutions. For corporate customers with comprehensive cash management expectations, producing appropriate and fast solutions are important for a positive and sustainable customer experience. Cash Management covers collection of trade receivables and short -term debt payments. In this study, in the light of the financial ratios of participation banking within the banking industry, a participation bank customers' experiences and expectations in cash management products and services were evaluated with the survey methodology and its importance were also examined.

  19. Does money matter? The effects of cash transfers on child development in rural Ecuador.

    Science.gov (United States)

    Paxson, Christina; Schady, Norbert

    2010-01-01

    A large body of research indicates that child development is sensitive to early-life environments, so that poor children are at higher risk for poor cognitive and behavioral outcomes. These developmental outcomes are important determinants of success in adulthood. Yet, remarkably little is known about whether poverty-alleviation programs improve children's developmental outcomes. We examine how a government-run cash transfer program for poor mothers in rural Ecuador influenced the development of young children. Random assignment at the parish level is used to identify program effects. Our data include a set of measures of cognitive ability that are not typically included in experimental or quasi-experimental studies of the impact of cash transfers on child well-being, as well as a set of physical health measures that may be related to developmental outcomes. The cash transfer program had positive, although modest, effects on the physical, cognitive, and socioemotional development of the poorest children in our sample.

  20. Voluntary disclosing cash flow statement in non-listed medium sized companies

    DEFF Research Database (Denmark)

    Schøler, Finn

    2012-01-01

    . For this reason we conducted a multiple-case study, where we formulated a structured questionnaire and made partly open-ended interview with each one of the case-companies’ accountably responsible persons, i.e. one of the guys who signed the annual report. Among the majority of the answers we found a common......In Denmark, like some other EU Member States, medium-sized companies are requested to present a cash flow statement, but there are exemption rules similar to those for subgroups’ exemption to their presentation of consolidated financial statements. In a sample consisting of the paper versions...... of annual reports from 385 Danish non-listed medium-sized companies who were disclosing a cash flow statement as part of their annual report, we found that in a few cases, the companies were exempted to presentation of consolidated financial statements, but disclosing the cash flow statement voluntarily...

  1. The New Darwinism of the Payment System: Will Bitcoin Replace our Cash-based Society?

    Directory of Open Access Journals (Sweden)

    Wonglimpiyarat J

    2016-01-01

    Full Text Available This paper is concerned with the new Darwinism of the payment system. The researcher discusses the payment system to understand if Bitcoin would replace our cash-based society. The analysis is based on the technology S-curve and Schumpeter’s model of economic development. At present, there are problems hindering Bitcoin innovation to achieve a wide adoption as the innovation is not well received by the government central banks around the world. It is interesting to see that the swing of S-curves is not strong enough to cause a paradigm shift according to the Schumpeterian concept of creative destruction. The results have shown parallel S-curve trajectories of electronic money innovations signifying a move from a cash-based economy towards a less cash society. The study provides useful implications to support the diffusion of Bitcoin innovation.

  2. Earnings Management before Rights Issues and the Subsequent Cash Transfer in Chinese Firms

    Science.gov (United States)

    Tsai, Bi-Huei

    2009-08-01

    Unlike private enterprises in developed markets, political influence is profound upon Chinese state-dominated firms. Under this consideration, this paper demonstrates how political impact interferes in Chinese managers' decisions. State-assigned managers were found to deliberately transfer cash raised via rights issues from the public shareholders to the state by cash dividends in order to please Chinese politicians. Especially, to meet the regulatory requirement of rights issues, managers from firms which distributed more cash dividends in the same year of rights issues were more likely to inflate earnings before rights issues. The earnings inflation which managers use to boost firm's incomes is defined as "earnings management." Furthermore, the empirical results also exhibit that firm's close relationship with the state enables managers to obtain approvals of rights issues easily, which reduces the firm's earnings management tendency. The manager's incentives of earnings management is closely attributed to the political intervention.

  3. The Norwegian Cash-for-Care Reform. Changing behaviour and stable attitudes

    Directory of Open Access Journals (Sweden)

    Lars Gulbrandsen

    2009-03-01

    Full Text Available In 1998 Norway introduced a cash-for-care scheme. Parent with children aged one or two were offered
    a cash-for-care benefit if they did not make use of public funded day care centres. The reform was supported by
    political parties of the centre and right and strongly opposed by parties on the left. Since 1999 ever fewer parents
    have made use of the opportunity to claim the benefit and have instead sent their children to a day care centre. At-
    titudes towards the cash-for-care reform, however, have remained very stable up to now. The principle of freedom
    of choice appears to be strongly rooted among Norwegians. The political agreement on maximum prices made
    this freedom a reality even for parents who wanted to make use of child care centres.

  4. The Norwegian Cash-for-Care Reform. Changing behaviour and stable attitudes

    Directory of Open Access Journals (Sweden)

    Lars Gulbrandsen

    2009-03-01

    Full Text Available In 1998 Norway introduced a cash-for-care scheme. Parent with children aged one or two were offered a cash-for-care benefit if they did not make use of public funded day care centres. The reform was supported by political parties of the centre and right and strongly opposed by parties on the left. Since 1999 ever fewer parents have made use of the opportunity to claim the benefit and have instead sent their children to a day care centre. Attitudes towards the cash-for-care reform, however, have remained very stable up to now. The principle of freedom of choice appears to be strongly rooted among Norwegians. The political agreement on maximum prices made this freedom a reality even for parents who wanted to make use of child care centres.

  5. Evaluating cash benefits as real options for a commodity producer in an emerging market

    Directory of Open Access Journals (Sweden)

    Fernando Antonio Lucena Aiube

    2009-07-01

    Full Text Available The amount of cash a firm should maintain is an old problem tackled by finance literature. The recent advances in finance, mainly in the derivatives area, has opened the opportunity to revisit this subject. Cossin and Hricko (2004 studied the benefits of cash holdings using the Real Options approach. We follow their ideas extending the problem to a specific commodity producer firm in an emerging economy. We evaluate the benefits considering that raising capital takes time (timing benefit and also the benefit of avoiding the issue of securities at unfavorable moments (underpricing benefit. We use numerical procedures to solve the problem. Despite the fact that the results are not totally intuitive, we verify that the timing benefit is much more relevant than that of avoiding the underpricing benefit and that firms in emerging economies have greater advantage holding cash than those in developed economies. There is empirical evidence of this last result in the literature.

  6. Effects of a conditional cash transfer program on children's behavior problems.

    Science.gov (United States)

    Ozer, Emily J; Fernald, Lia C H; Manley, James G; Gertler, Paul J

    2009-04-01

    Governments are increasingly using conditional cash transfer programs to reduce the negative effects of poverty on children's development. These programs have demonstrated benefits for children's nutrition and physical development, but the effect of conditional cash transfers on children's behaviors has not been systematically evaluated. The objective of this study was to evaluate the effects of a conditional cash transfer on children's behavior by using a quasi-experimental design. In 1997, the Mexican government initiated a large-scale conditional cash transfer (Oportunidades) in 506 very poor rural communities. Oportunidades provided cash transfers that were contingent on visits to medical practitioners, consumption of nutritional supplementation, and school enrollment. In 2003, an assessment of 4- to 6-year-old children in these households was conducted, and outcomes were compared with children from 152 additional poor rural communities who had been recruited by using rigorous matching procedures. The primary outcome measure for this analysis was maternal report of behavior problems in terms of anxiety/depressive and aggressive/oppositional symptoms. Analyses reported here compared 778 children from beneficiary households who had received 3.5 to 5.0 years of exposure to the program and a comparison group of 263 children who had received no exposure to the program at the time of assessment but whose families later enrolled in the program. Participation in Oportunidades was associated with a 10% decrement in aggressive/oppositional symptoms but was not associated with significant decrements in anxiety/depressive symptoms or total problem behaviors while controlling for covariates. Effects of treatment did not differ by children's gender or ethnicity. Although this large-scale conditional cash transfer program for poor Mexican families did not directly address children's behavior problems, it found evidence of indirect effects on children's behavior. Results

  7. Mexico’s conditional cash transfer programme increases cesarean section rates among the rural poor

    Science.gov (United States)

    2010-01-01

    Background: Caesarean section rates are increasing in Mexico and Latin America. This study evaluates the impact of a large-scale, conditional cash transfer programme in Mexico on caesarean section rates. The programme provides cash transfers to participating low income, rural households in Mexico conditional on accepting health care and nutrition supplements. Methods: The primary analyses uses retrospective reports from 979 women in poor rural communities participating in an effectiveness study and randomly assigned to incorporation into the programme in 1998 or 1999 across seven Mexican states. Using multivariate and instrumental variable analyses, we estimate the impact of the programme on caesarean sections and predict the adjusted mean rates by clinical setting. Programme participation is measured by beneficiary status, programme months and cash transfers. Results: More than two-thirds of poor rural women delivered in a health facility. Beneficiary status is associated with a 5.1 percentage point increase in caesarean rates; this impact increases to 7.5 percentage points for beneficiaries enrolled in the programme for ≥6 months before delivery. Beneficiaries had significantly higher caesarean delivery rates in social security facilities (24.0 compared with 5.6% among non-beneficiaries) and in other government facilities (19.3 compared with 9.5%). Conclusion: The Oportunidades conditional cash transfer programme is associated with higher caesarean section rates in social security and government health facilities. This effect appears to be driven by the increases in disposable income from the cash transfer. These findings are relevant to other countries implementing conditional cash transfer programmes and health care requirements. PMID:19933778

  8. Mexico's conditional cash transfer programme increases cesarean section rates among the rural poor.

    Science.gov (United States)

    Barber, Sarah L

    2010-08-01

    Caesarean section rates are increasing in Mexico and Latin America. This study evaluates the impact of a large-scale, conditional cash transfer programme in Mexico on caesarean section rates. The programme provides cash transfers to participating low income, rural households in Mexico conditional on accepting health care and nutrition supplements. The primary analyses uses retrospective reports from 979 women in poor rural communities participating in an effectiveness study and randomly assigned to incorporation into the programme in 1998 or 1999 across seven Mexican states. Using multivariate and instrumental variable analyses, we estimate the impact of the programme on caesarean sections and predict the adjusted mean rates by clinical setting. Programme participation is measured by beneficiary status, programme months and cash transfers. More than two-thirds of poor rural women delivered in a health facility. Beneficiary status is associated with a 5.1 percentage point increase in caesarean rates; this impact increases to 7.5 percentage points for beneficiaries enrolled in the programme for >or=6 months before delivery. Beneficiaries had significantly higher caesarean delivery rates in social security facilities (24.0 compared with 5.6% among non-beneficiaries) and in other government facilities (19.3 compared with 9.5%). The Oportunidades conditional cash transfer programme is associated with higher caesarean section rates in social security and government health facilities. This effect appears to be driven by the increases in disposable income from the cash transfer. These findings are relevant to other countries implementing conditional cash transfer programmes and health care requirements.

  9. Free cash flow, gouvernance et politique financière des entreprises françaises

    OpenAIRE

    Mehdi Nekhili; Afifa Wali Siala; Dhikra Chebbi

    2009-01-01

    (VF)La limitation du problème du free cash flow dépend de l’efficacité des mécanismes de gouvernance. Dans notre étude, nous supposons que les mécanismes de gouvernance peuvent agir directement sur le niveau du free cash flow ou indirectement à travers les politiques d’endettement et de distribution de dividendes. Sur la base d’un échantillon de 123 entreprises françaises en 2004, les résultats montrent que c’est la distribution soutenue des dividendes, et non le niveau d’endettement, qui per...

  10. PENGARUH FREE CASH FLOW, PROFITABILITAS, LIKUIDITAS, DAN LEVERAGE TERHADAP KEBIJAKAN DIVIDEN

    Directory of Open Access Journals (Sweden)

    Muhammad Asril Arilaha

    2017-03-01

    Full Text Available The objective of the study was to provide empirical evidence about the effect offree cash flow, profitability, liquidity and leverage toward dividend policy. The population ofthis study was manufacture companies listed in Indonesian Stock Exchange in 2004 – 2007. Thesampling technique used purposive sampling and the analysis method used was multipleregressions. The result of this study proved that the profitability of a company affected thedividend policy. The bigger company profit was, the bigger dividend share was. A companywhich had profit stability could settle on dividend payment rate certainly and signal the qualityof their profit. While, free cash flow, liquidity and leverage had no effect toward dividend.

  11. Which cost of debt should be used in forecasting cash flows?

    Directory of Open Access Journals (Sweden)

    Ignacio Vélez–Pareja

    2009-04-01

    Full Text Available Frequently, analysts and teachers use the capitalized rate of interest for the cost of debt when forecasting and discounting cash flows. Others estimate the interest payments when forecasting annual financial statements or cash flows based on the average of debt calculated with the beginning and ending balance. Others use the end of year convention that calculates the yearly interest multiplying the beginning balance times its contractual cost. The use of one or other methods is critical for the definition of the tax savings. These approaches are illustrated with examples and the differences in using them. A simple proposal to solve the problem is presented.

  12. Geothermal loan guaranty cash flow model: description and users' manual

    Energy Technology Data Exchange (ETDEWEB)

    Keimig, M.A.; Rosenberg, J.I.; Entingh, D.J.

    1980-11-01

    This is the users guide for the Geothermal Loan Guaranty Cash Flow Model (GCFM). GCFM is a Fortran code which designs and costs geothermal fields and electric power plants. It contains a financial analysis module which performs life cycle costing analysis taking into account various types of taxes, costs and financial structures. The financial module includes a discounted cash flow feature which calculates a levelized breakeven price for each run. The user's guide contains descriptions of the data requirements and instructions for using the model.

  13. Community-based capital cash transfer to support orphans in Western Kenya

    DEFF Research Database (Denmark)

    Skovdal, Morten; Mwasiaji, W.; Morrison, J.;

    2008-01-01

    Various types of 'cash transfer' are currently receiving much attention as a way of helping orphans and vulnerable children in Africa. Drawing on a qualitative study conducted in Western Kenya, this paper points to the strategy of community-based capital cash transfers (CCCT) as a particularly...... promising method of supporting orphans and carers. Qualitative data were obtained from 15 orphans and 26 caregivers in Bondo District, Kenya, beneficiaries of a CCCT programme run by a partnership between the community, the government social services department and a foreign donor. Our findings suggest...

  14. Cash flow and discount rate risk in up and down markets: What is actually priced?

    OpenAIRE

    Botshekan, M.; Kraeussl, R.G.W.; Lucas, A

    2010-01-01

    This discussion paper resulted in a publication in the 'Journal of Financial and Quantitative Analysis', 2012, 47(6), 1279-1301. We test whether asymmetric preferences for losses versus gains as in Ang, Chen, and Xing (2006) also affect the pricing of cash flow versus discount rate news as in Campbell and Vuolteenaho (2004). We construct a new four-fold beta decomposition, distinguishing cash flow and discount rate betas in up and down markets. Using CRSP data over 1963--2008, we find that th...

  15. Creencias tradicionales y campos electromagnéticos

    Directory of Open Access Journals (Sweden)

    Colin A. Ross

    2011-09-01

    Full Text Available El autor propone que existe una serie de creencias y prácticas tradicionales que pueden proporcionar pistas acerca de la interacción de campos electromagnéticos en la biosfera. Por ejemplo, la creencia en el mal de ojo puede ser una construcción cultural relacionada con la sensación de estar siendo observado, pero a su vez puede estar basada en las emisiones de ondas electromagnéticas a través de los ojos. En este artículo se presentan datos para apoyar esta hipótesis. Otras creencias tradicionales, como la importancia de la conexión con la Madre Tierra también pueden contener una explicación similar. En este artículo se presentan una serie de hipótesis científicamente verificables sobre creencias tradicionales y campos electromagnéticos. En esta fase, los datos son insuficientes para confirmar la hipótesis, no obstante el objetivo de este artículo es estimular el pensamiento crítico y la investigación sobre algunas creencias tradicionales.

  16. DIAGNOSTICO DE AFECCIONES RESPIRATORIAS EN CAMPO QUIJANO SALTA -ARGENTINA

    Directory of Open Access Journals (Sweden)

    Marta Leonor de Viana

    2008-01-01

    Full Text Available Campo Quijano está a 30 Km. de la ciudad de Salta y cuenta aproximadamente con 8300 habitantes. En el éjido urbano existen dos borateras que constituyen una fuente puntual de contaminación del aire, suelo y aguas. Se estudió la prevalencia de enfermedades respiratorias en la población urbana en el año 2005. Se trabajó con los datos de las planillas de consultas diarias externas del Hospital Francisco Herrera. Se consideraron cuatro grupos de afecciones, seleccionados por la sintomatología y su posible asociación con las emisiones gaseosas de las borateras: Rinitis; Catarro en vías aéreas superiores, Espasmos y Tos irritativa. Se estimó y comparó la prevalencia de las enfermedades por barrio con la prueba de X2 y la de los residuales ajustados de Haberman. Los espasmos y catarros en vías aéreas superiores fueron las afecciones más frecuentes en la población de Campo Quijano. En rinitis no se encontraron diferencias entre barrios. El barrio San Roque presentó las mayores prevalencias en CVAs, espasmos y tos irritativa. Barrios cercanos a las borateras presentaron prevalencias dispares, lo que podría relacionarse con características socio-culturales, sanitarias y económicas, entre otros factores de riesgo, no considerados en este diagnóstico.

  17. Campo Colorado, nuevos aportes desde la bioarqueología

    Directory of Open Access Journals (Sweden)

    Tarragó, Myriam N.

    2005-01-01

    Full Text Available Este trabajo tiene por objetivo dar a conocer los resultados obtenidos en el estudio bioarqueológico de los restos humanos recuperados durante las excavaciones del sitio formativo Campo Colorado (SSalLap2 llevadas a cabo por Myriam Tarragó en el año 1967. El asentamiento se emplaza en el extremo norte del Valle Calchaquí (Prov. de Salta a 8 km. del actual poblado de La Poma y posee un fechado radiocarbónico asociado SI-Nº1221: 1895+-70 AP. Las inhumaciones fueron detectadas en dos ubicaciones diferentes dentro del sitio: debajo del piso de recintos habitacionales y en un área de "Cementerio Anexo" adyacente el sector norte del poblado. Se describen, entonces, las cinco estructuras de entierro excavadas y se detallan los métodos y resultados obtenidos en las estimaciones de edad, sexo y estatura de los individuos y se realizan algunas consideraciones respecto su estado de salud y nutrición general. Se señalan, asimismo, algunos procesos tafonómicos que han determinado la conservación diferencial de la muestra. A modo de conclusión, los hallazgos de Campo Colorado son enmarcados en el contexto de las prácticas mortuorias del Formativo regional.

  18. Educação do Campo e Ontologia Marxiana

    Directory of Open Access Journals (Sweden)

    Rafael Rossi

    2016-09-01

    Full Text Available Este texto expõe – em linhas gerais – desafios à reflexão sobre a educação do campo tendo por base as contribuições inerentes à ontologia marxiana, cujos maiores expoentes são Marx, Lukács e Mészáros. Para tanto, partimos da consideração crítica da categoria fundante do ser social, que é o trabalho para argumentar a gênese ontológica do complexo social da educação e sua relação com o trabalho e com a totalidade social. Sem a perspectiva radical e revolucionária característica da ontologia marxiana, muito provavelmente, os discursos em educação do campo serão englobados pela própria lógica do capital em seu processo de expansão e reprodução.

  19. Quantitative finger dermatoglyphics in a Spanish population (Tierra de Campos).

    Science.gov (United States)

    Martín, J; Portabales, D

    1986-09-01

    This study deals with the finger ridge counts and the distribution of their frequencies drawn from a Spanish sample consisting of 833 school-children (417 males and 416 females), which has been collected from the geographical area of Tierra de Campos. Paired t-test and Student-t-test were used to explore bimanual and sexual differences, respectively. The results showed: a bimanual asymmetry marked by significantly higher right hand ridge count for thumb and index pairs in both males and females, ridge counts of males are always higher than the corresponding values of females; the differences being significant excepting for right and left index and for left ring-finger. The frequency distribution of TFRC was slightly, but significantly, different from normality only in males, as Kolmogorov test showed. A great homogeneity between values for TFRC of males and females from Tierra de Campos and those of the available Spanish and Portuguese populations has been found, the values being high not only in the variation ranges of the Spanish and Portuguese populations, but also in the ranges reported for other European populations.

  20. Implementing a Conditional Cash Transfer Program in Two American Cities: Early Lessons from Family Rewards 2.0

    Science.gov (United States)

    Dechausay, Nadine; Miller, Cynthia; Quiroz-Becerra, Victoria

    2014-01-01

    In 2007, New York City launched the first test of a conditional cash transfer program in the United States. Called Family Rewards, the program sought to break the intergenerational cycle of poverty by offering cash assistance to poor families to reduce immediate hardship, but conditioned this assistance on families' efforts to improve their…

  1. 38 CFR 8.12 - Payment of the cash value of National Service Life Insurance in monthly installments under...

    Science.gov (United States)

    2010-07-01

    ... of National Service Life Insurance in monthly installments under section 1917(e) of title 38 U.S.C. 8... SERVICE LIFE INSURANCE Cash Value and Policy Loan § 8.12 Payment of the cash value of National Service Life Insurance in monthly installments under section 1917(e) of title 38 U.S.C. (a) Effective January...

  2. 46 CFR 308.525 - Application for decrease in amount of cash collateral fund, Form MA-305.

    Science.gov (United States)

    2010-10-01

    ... fund, Form MA-305. 308.525 Section 308.525 Shipping MARITIME ADMINISTRATION, DEPARTMENT OF... Insurance § 308.525 Application for decrease in amount of cash collateral fund, Form MA-305. Application for decrease in the amount of the cash collateral deposit fund shall be made on Form MA-305, which may...

  3. Conditional Cash Transfers in New York City: The Continuing Story of the Opportunity NYC-Family Rewards Demonstration

    Science.gov (United States)

    Riccio, James; Dechausay, Nadine; Miller, Cynthia; Nuñez, Stephen; Verma, Nandita; Yang, Edith

    2013-01-01

    Opportunity NYC-Family Rewards, an experimental, privately funded, conditional cash transfer (CCT) program to help families break the cycle of poverty, was the first comprehensive CCT program in a developed country. Launched in 2007 by New York City's Center for Economic Opportunity (CEO), Family Rewards offered cash assistance to low-income…

  4. A Market, Operation, and Mission Assessment of Large Rural For-Profit Hospitals with Positive Cash Flow

    Science.gov (United States)

    McCue, Michael J.

    2007-01-01

    Context: National benchmark data for 2002 indicate that large rural for-profit hospitals have a median cash flow margin of 19.5% compared to 9.2% for their nonprofit counterparts. Purpose: This study aims to gain insight regarding the driving factors behind the high cash flow performance of large rural for-profit hospitals. Methods: Using 3 annual…

  5. Is Investment-Cash Flow Sensitivity Caused by the Agency Costs or Asymmetric Information? Evidence from the UK

    NARCIS (Netherlands)

    Pawlina, G.; Renneboog, L.D.R.

    2005-01-01

    We investigate the investment-cash flow sensitivity of a large sample of the UK listed firms and confirm that investment is strongly cash flow-sensitive.Is this suboptimal investment policy the result of agency problems when managers with high discretion overinvest, or of asymmetric information when

  6. Do Annual Stock Price Effects of Extreme Cash Dividend Pay-Out Events Differ from Their Short Term Effects?

    NARCIS (Netherlands)

    von Eije, Johan; Muckley, Cal

    2015-01-01

    In this paper, we assess the long-term stock price impact of 1327 cash dividend payment initiations and 1156 cash dividend payment omissions of firms listed on the NYSE and the NASDAQ, from 1972 to 2012. In particular we compare the annual returns of dividend initiating and omitting firms and firms

  7. Impact of Implementation of Direct Cash Transfer Program 2008/2009 on Household Consumption in Central Java Province

    Science.gov (United States)

    Subanti, S.; Hakim, A. R.; Hakim, I. M.

    2017-04-01

    This study aims to see the impact of direct cash transfer program for 2008/2009 on household consumption of food, nonfood, education, and health in Central Java Province. The study is expected to provide important findings for the improvement of a similar program in the future. This study findings that (1) the increasing in food and non-food consumption for direct cash transfer recipients than non direct cash transfer recipients; (2) the impact of households expenditure on education for direct cash transfer recipients is higher than non direct cash transfer recipients; (3) the impact of households expenditure on health for direct cash transfer recipients is lower than non direct cash transfer recipients. This study recommended that (1) implementation of direct cash transfer program 2008/2009 must be managed to be better because this program can defend household welfare. It shows from several indicators of well-being such as consumption spending, education, and health; (2) data targets for poor households (very poor, poor, nearly poor) must be updated.

  8. 78 FR 63974 - Student Assistance General Provisions-Subpart K-Cash Management; Extension of Public Comment...

    Science.gov (United States)

    2013-10-25

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF EDUCATION Student Assistance General Provisions--Subpart K--Cash Management; Extension of Public Comment Period..., ``Student Assistance General Provisions--Subpart K--Cash Management''. ED is extending the comment period...

  9. 7 CFR 1484.52 - What are the guidelines for computing the value of non-cash contributions?

    Science.gov (United States)

    2010-01-01

    ... non-cash contributions? 1484.52 Section 1484.52 Agriculture Regulations of the Department of... Reimbursements § 1484.52 What are the guidelines for computing the value of non-cash contributions? (a) Computing... estimated industry rate at the person's level of employment for nonprofessional personnel. (b) Computing...

  10. 45 CFR 286.130 - Does the receipt of Welfare-to-Work (WtW) cash assistance count towards a Tribe's TANF time limit?

    Science.gov (United States)

    2010-10-01

    ... at ongoing basic needs. (b) Only cash assistance provided in the form of cash payments, checks... AND FAMILIES, DEPARTMENT OF HEALTH AND HUMAN SERVICES TRIBAL TANF PROVISIONS Tribal TANF Plan Content...

  11. APROACHING THE ECONOMIC DIMENSION OF SUSTAINABLE DEVELOPMENT FROM A FINANCIAL PERSPECTIVE: A CASE STUDY REGARDING CASH - FLOW ANALYSIS AND THE RELATIONSIPS BETWEEN CASH - FLOW AND NET INCOME

    Directory of Open Access Journals (Sweden)

    Diana Elena Vasiu

    2014-10-01

    Full Text Available Europe 2020, a strategy for smart, sustainable and inclusive growth stresses the necessity of smart, sustainable and inclusive growth. The objectives of a sustainable economic development include sustaining economic growth, maximizing private profits and expanding markets. Considering this, economic development must based on facts, not on papers. Therefore, considering the economic dimension of sustainable development, it is important to establish if Romanian companies listed and traded on Bucharest Stock Exchange are able to obtain profit while cash is withdrawn. Even if reported in the income statement, net profit is not simultaneously charged due to accrual accounting that makes the balance sheet provide a static picture of the financial position, while the cash flow statement provides a dynamic picture of it. Therefore, the financial performance analysis based on classical indicators of performance must be accompanied by the analysis of treasury, namely of the cash flow, which provides a comprehensive assessment possibility of the financial performance, flexibility and adaptability of the economic entity, in the context of a highly competitive and often unstable environment. A positive net flows is a confirmation of the economic success of the company representing the concrete expression of the net profit and other pecuniary accumulations, interpreted as the real self-financing investment capacity, which would lead to the real asset growth and thus to the increase of the owners' wealth.

  12. A study on relationship between capital employed efficiency and operating cash flow: Evidence from Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Mohammad Hassani

    2013-04-01

    Full Text Available Capital employed efficiency is one of the intellectual capital components based on value added intellectual capital model. It is calculated by dividing value added on capital employed. Operational cash flow is made from operating activities. It is expected that created value added from capital employed could make more operational cash flow. This paper investigates the relationship between capital employed efficiency and operating cash flow. To test this hypothesis, data has been collected from a sample of 161 firms in Tehran Stock Exchange over the period 2008-2012. Results show that there is a positive and significant relationship between capital employed efficiency and operational cash flow. In other words, more cash flow from operational is created through increasing the amount of value added based on capital employed.

  13. Jak lze využít údaje z výkazu Cash flow v řízení firmy

    OpenAIRE

    Bradáčová, Lenka

    2010-01-01

    This bachelor's thesis deals with analysis of the cash flow statement. The aim is to analyze the cash flow statement of Rybářství Velké Meziříčí, a. s. for the three past financial years and apply the investment evaluation methods to the specific investment of the company. Then the cash flow is used in certain indicators and business is evaluated by one of the methods using cash flow.

  14. Tema 3. Campo eléctrico (Curso 2010-2011)

    OpenAIRE

    Espinosa Tomás, Julián; Pérez Rodríguez, Jorge; Miret Marí, Juan José; Caballero Caballero, María Teresa

    2010-01-01

    1. Interacción eléctrica. Campo eléctrico; 2. Representación mediante líneas de campo. Flujo eléctrico: Ley de Gauss; 3. Energía y potencial eléctricos. Superficies equipotenciales; 4. Dieléctricos y conductores. Condensadores: capacidad; 5. Movimiento de cargas en campos eléctricos. Corriente eléctrica: resistencias. Osciloscopio.

  15. Tema 3. Campo eléctrico (Curso 2010-2011)

    OpenAIRE

    Espinosa Tomás, Julián; Pérez Rodríguez, Jorge; Miret Marí, Juan José; Caballero Caballero, María Teresa

    2010-01-01

    1. Interacción eléctrica. Campo eléctrico; 2. Representación mediante líneas de campo. Flujo eléctrico: Ley de Gauss; 3. Energía y potencial eléctricos. Superficies equipotenciales; 4. Dieléctricos y conductores. Condensadores: capacidad; 5. Movimiento de cargas en campos eléctricos. Corriente eléctrica: resistencias. Osciloscopio.

  16. Paleomorphology of the upper part of the Macae formation, Namorado field, Campos basin; Paleomorfologia do intervalo superior da formacao Macae, Campo de Namorado, Bacia de Campos

    Energy Technology Data Exchange (ETDEWEB)

    Barboza, Eduardo Guimaraes [Universidade Federal do Rio Grande do Sul (UFRGS), Porto Alegre, RS (Brazil). Inst. de Geociencias. Programa de Pos-Graduacao em Geociencias; Tomazelli, Luiz Jose; Ayup-Zouain, Ricardo Norberto [Universidade Federal do Rio Grande do Sul (UFRGS), Porto Alegre, RS (Brazil). Inst. de Geociencias. Centro de Estudos de Geologia Costeira e Oceanica; Viana, Adriano Roessler [PETROBRAS, Rio de Janeiro, RJ (Brazil). Exploracao e Producao. Edificio Sede

    2004-07-01

    The Macae Formation (Late Albian-Turonian of the Campos Basin) is represented by a thick column of carbonate sediments whose deposition began soon after the evaporitic phase that marks the beginning of the marine occupation of the basin. The top of this interval is represented by an unconformity (Type I), indicative of a variation in the base level of the basin, on which the turbidities of the basal sequence of the Namorado Field were deposited. For a better understanding of the depositional geometry of these turbidities, the paleogeomorphology analysis demonstrated to be quite efficient. The method of work used for so was a combination among the seismic 3D visualization (VoxelGeo{sup R}), from the characterization of different physical attributes of the seismic signal, and the facies analysis of wells profiles of the referred field. The developed analysis allowed the individualization and the three-dimensional visualization of a sinuous paleochannel in the top of the interval, until then not described in previous interpretations of this depositional system. With the information coming from this study, a better understanding of the genesis of this accumulation can be reached, especially in the part regarding to the units of important economic character, represented by the turbidities deposits and whose occurrences are related with stages of relative lowering of the sea level. (author)

  17. Reflexividad y gestión de tensiones en la interfase del campo de la militancia afro con el campo académico

    OpenAIRE

    Maffia, Marta Mercedes; Rodríguez, Pablo Gustavo

    2014-01-01

    Se analizan las tensiones surgidas en años recientes al interior del campo afro entre académicos e investigadores sociales y militantes de organizaciones afro, en base a la teoría de los campos de P. Bourdieu, teniendo en cuenta los intereses derivados de la posición que cada uno de los agentes ocupa en el campo y las estrategias que despliega en la acumulación de su capital correspondiente. Las fuentes de información son intervenciones discursivas de académicos y militantes afro, producidas ...

  18. La tradición del trabajo de campo en Geografía

    Directory of Open Access Journals (Sweden)

    Perla Zusman

    2011-01-01

    Full Text Available El trabajo de campo ha adquirido distintas significaciones a lo largo de la historia de la Geografía. Los cambios en la concepción de la Geografía han derivado en redefiniciones de la contribución del trabajo de campo al proceso de producción de conocimiento. El objetivo de este texto es aproximarse a los aspectos epistemológicos y políticos presentes en las distintas formas de entender el trabajo de campo. A su vez, se busca mostrar que las diversas maneras de concebir y hacer el trabajo de campo conviven en la actualidad

  19. 26 CFR 31.3401(a)(4)-1 - Cash remuneration for service not in the course of employer's trade or business.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 15 2010-04-01 2010-04-01 false Cash remuneration for service not in the course....3401(a)(4)-1 Cash remuneration for service not in the course of employer's trade or business. (a) Cash remuneration paid for services not in the course of the employer's trade or business performed by an...

  20. 26 CFR 31.3401(a)(11)-1 - Remuneration other than in cash for service not in the course of employer's trade or business.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 15 2010-04-01 2010-04-01 false Remuneration other than in cash for service not... Tax at Source § 31.3401(a)(11)-1 Remuneration other than in cash for service not in the course of employer's trade or business. (a) Remuneration paid in any medium other than cash for services not in...

  1. Families Coping without Earnings or Government Cash Assistance. Assessing the New Federalism: An Urban Institute Program to Assess Changing Social Policies. Occasional Paper.

    Science.gov (United States)

    Zedlewski, Sheila R.; Nelson, Sandi; Edin, Kathryn; Koball, Heather; Pomper, Kate; Roberts, Tracy

    This study sought to determine why some families live outside the government cash income support system despite extreme poverty. Qualitative interviews were conducted with 95 extremely poor families (cash income below 50 percent of the federal poverty level living without employment income or government cash assistance). The interview sample was…

  2. 26 CFR 1.6050I-2 - Returns relating to cash in excess of $10,000 received as bail by court clerks.

    Science.gov (United States)

    2010-04-01

    ... cash receipt. For purposes of this section, a clerk is the clerk's office or the office, department... 26 Internal Revenue 13 2010-04-01 2010-04-01 false Returns relating to cash in excess of $10,000... Returns relating to cash in excess of $10,000 received as bail by court clerks. (a) Reporting...

  3. Learning Together: How Families Responded to Education Incentives in New York City's Conditional Cash Transfer Program

    Science.gov (United States)

    Greenberg, David; Dechausay, Nadine; Fraker, Carolyn

    2011-01-01

    In 2007, New York City's Center for Economic Opportunity launched Opportunity NYC-Family Rewards, an experimental, privately funded, conditional cash transfer (CCT) program to help families break the cycle of poverty. Family Rewards provided payments to low-income families in six of the city's poorest communities for achieving specific goals…

  4. Cash Transfers and Mayoral Elections: The Case of Sao Paulo's Renda Mínima

    Directory of Open Access Journals (Sweden)

    Diego Sanches Corrêa

    2015-08-01

    Full Text Available Several recently published studies analyze the effects of national conditional cash transfer (CCT programs, such as the Brazilian Bolsa Família and the Mexican Oportunidades, on presidential elections. Most of them show that these programs boost incumbents' electoral support among the poor. This research note is the first scholarly attempt to investigate this phenomenon at a lower-level unit of a federal state, by assessing the impact of a municipal cash transfer program on a mayoral election. Specifically, it investigates whether Renda Mínima, the cash transfer program of the city of Sao Paulo, affected beneficiaries' electoral behavior in favor of the incumbent candidate in the 2004 mayoral election. This note analyzes survey data from CEBRAP/IBOPE and shows that cash transfers did, indeed, affect beneficiaries' behavior in the predicted direction, but only in cases where they did not benefit from any other CCT program, such as the federal Bolsa Família or the São Paulo state Renda Cidadã. These results suggest that the pro-incumbent effect of CCT programs may be diluted by similar programs launched by governments at other tiers of a federation, even if they are led by the same party.

  5. The Impact of an Unconditional Cash Transfer on Early Child Development: The Zambia Child Grant Program

    Science.gov (United States)

    Seidenfeld, David; Prencipe, Leah; Handa, Sudhanshu; Hawkinson, Laura

    2015-01-01

    Little research has been conducted on unconditional cash transfers (UCTs) despite their growing prevalence in Africa, including South Africa, Zambia, Zimbabwe, Kenya, Malawi, Lesotho, and Uganda. In this study, researchers implemented a randomized control trial with over 2,500 households to investigate the impact of Africa's child grant program on…

  6. 29 CFR 531.27 - Payment in cash or its equivalent required.

    Science.gov (United States)

    2010-07-01

    ... 29 Labor 3 2010-07-01 2010-07-01 false Payment in cash or its equivalent required. 531.27 Section 531.27 Labor Regulations Relating to Labor (Continued) WAGE AND HOUR DIVISION, DEPARTMENT OF LABOR REGULATIONS WAGE PAYMENTS UNDER THE FAIR LABOR STANDARDS ACT OF 1938 Interpretations How Payments May Be Made...

  7. Bitcoin as cash in terms of the european anti-money laundering directive

    NARCIS (Netherlands)

    Kaiser, Carolin

    2016-01-01

    The European Anti-Money Laundering Directive 2015/849 sets out detailed rules for the prevention of money laundering and terrorist financing. It presents a clear framework for financial institutions, covering both cash and electronic payments systems. However, the directive fails to regulate digital

  8. The Influence of Conditional Cash Transfers on Eligible Children and Their Siblings

    Science.gov (United States)

    Lincove, Jane Arnold; Parker, Adam

    2016-01-01

    Conditional cash transfers (CCTs) are used to reduce poverty while incentivizing investments in children. Targeting CCTs to certain groups of children can improve efficiency, but positive effects on eligible children may be offset by reductions in investments for ineligible siblings. Using data from Nicaragua, we estimate program effects on…

  9. Improving cash flow in a down economy. How HIM can help reduce denials.

    Science.gov (United States)

    Dunn, Rose

    2009-03-01

    Maybe HIM professionals can't ease tight credit or reduce bad debt, but they can make sure their organizations get full, correct reimbursement on the first submission. HIM professionals help improve cash flow by contributing to revenue cycle management n these tough economic times-when increases in bad

  10. Back to Basics: Algebraic Foundations of the Statement of Cash Flows

    Science.gov (United States)

    Joyner, Donald T.; Banatte, Jean-Marie; Dondeti, V. Reddy

    2014-01-01

    The indirect method for preparing the statement of cash flows, as described in many standard textbooks, involves an item-by-item approach, telling you to add to or subtract from the net income, the increases or decreases in the balance sheet items, such as accounts payable or accounts receivable. Many business students, especially at the…

  11. Alternative Methods in the Evaluation of School District Cash Management Programs.

    Science.gov (United States)

    Dembowski, Frederick L.

    1980-01-01

    Empirically evaluates three measures of effectiveness of school district cash management: the rate of return method in common use and two new measures--efficiency rating and Net Present Value (NPV). The NPV approach allows examination of efficiency and provides a framework for evaluating other areas of educational policy. (Author/IRT)

  12. Using cash cover crops to provide pollinator provisions in the Upper Midwest

    Science.gov (United States)

    To date, the use of winter cover crops in MN and SD has been slow to be adopted. The short growing season and potential for late, wet springs make cover crops risky to farmers with little economic return. The use of cash cover crops in this area offers the standard advantages of other cover crops, w...

  13. CASH FLOW IMPLICATIONS OF FIXED VERSUS VARIABLE INTEREST RATE DEBT STRUCTURES

    OpenAIRE

    Moe, Lonn; Thompson, Jerry L.

    1984-01-01

    The objective of this study was to discover the magnitude of the effect variable rate loans have on net operating cash flow over the period from 1968 to 1981. This was done by comparing a variable rate loan model with a fixed rate loan model under varying debt loads for four farm types.

  14. The ABC's of Financing Church and Synagogue Libraries. Acquiring Funds, Budgeting, Cash Accounting.

    Science.gov (United States)

    Hannaford, Claudia

    The ABCs of financing church and synagogue libraries are presented in this guide as Acquiring Funds, Budgeting, and Cash Accounting. Acquiring funds and the basic means needed to start a library are described, including resources such as books, shelves, office supplies, and financial resources; ideas and methods are presented for soliciting both…

  15. CREATING VALUE FOR SHAREHOLDERS BY THE USE OF CASH-FLOWS

    Directory of Open Access Journals (Sweden)

    Bandoi Anca

    2009-05-01

    Full Text Available This paper addresses a topic of great contemporaneity and of particular importance, namely the extent to which the creation of value is achieved at micro level through the cash flow. Thus, after a brief introduction, there are given short feedbacks on two

  16. Retailer’s optimal ordering policies with cash discount and progressive payment scheme derived algebraically

    Directory of Open Access Journals (Sweden)

    Alok kumar

    2011-10-01

    Full Text Available This study presents optimal ordering policies for retailer when supplier offers cash discount and two progressive payment schemes for paying of purchasing cost. If the retailer pays the outstanding amount before or at first trade credit period M, the supplier provides r_1cash discount and does not charge any interest. If the retailer pays after M but before or at the second trade period N offered by the supplier, the supplier provides r_2 cash discount and charges interest on unpaid balance at the rate 〖Ic〗_1 . If retailer pays the balance after N, (N>M then the supplier does not provide any cash discount but charges interest on unpaid balance at the rate 〖Ic〗_2. The primary objective of this paper is to minimize the total cost of inventory system. This paper develops an algebraic approach to determine the optimal cycle time, optimal order quantity and optimal relevant cost. Numerical example are also presented to illustrate the result of propose model and solution procedure developed.

  17. The impact of (unconditional) cash transfers on school enrollment: Evidence from Ecuador

    NARCIS (Netherlands)

    Oosterbeek, H.; Ponce, J.; Schady, N.

    2007-01-01

    This paper presents evidence about the impact on school enrollment of a program in Ecuador that gives cash transfers to the 40 percent poorest families. The evaluation design consists of a randomized experiment for families around the first quintile of the poverty index and of a regression discontin

  18. 20 CFR 404.1586 - Why and when we will stop your cash benefits.

    Science.gov (United States)

    2010-04-01

    ... entitled to disability cash benefits on the basis of your work activity but your visual impairment is.... 404.1586 Section 404.1586 Employees' Benefits SOCIAL SECURITY ADMINISTRATION FEDERAL OLD-AGE... able to use, in substantial gainful activity, skills and abilities comparable to those of some gainful...

  19. ECONOMIC EVALUATION OF CROPSHARE AND CASH LEASE CONTRACTS IN SOUTH DAKOTA AND NEBRASKA

    OpenAIRE

    Janssen, Larry; Cole, John D.; Xu, Xuan; Johnson, Bruce B.

    2002-01-01

    Factors influencing choice of share or cash rental leases for cropland are examined using a 1996 dataset containing 1071 lease contracts in Nebraska and in South Dakota. Logistic regression results indicate tenant's age, capital position, and relationship with landlord were more important than leased land use or crop management variables.

  20. Cash flow rights versus voting rights: Corporate governance and firm value of Dutch listed firms

    NARCIS (Netherlands)

    C. Pepping; T. van der Goot

    2008-01-01

    The paper examines the relation between different forms of ownership and firm performance on the Dutch stock market. By using unique data on both cash flow and voting rights in the possession of a firm's board of directors and its large shareholders, the paper presents detailed analyses of corporate

  1. 17 CFR 275.206(4)-3 - Cash payments for client solicitations.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Cash payments for client... for client solicitations. (a) It shall be unlawful for any investment adviser required to be... client at the time of the solicitation or referral; or (iii) Other than a solicitor specified in...

  2. Cash flow rights versus voting rights: Corporate governance and firm value of Dutch listed firms

    NARCIS (Netherlands)

    Pepping, C.; van der Goot, T.

    2008-01-01

    The paper examines the relation between different forms of ownership and firm performance on the Dutch stock market. By using unique data on both cash flow and voting rights in the possession of a firm's board of directors and its large shareholders, the paper presents detailed analyses of corporate

  3. 31 CFR 309.8 - Tenders; when cash deposit is required.

    Science.gov (United States)

    2010-07-01

    ... (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY BUREAU OF THE PUBLIC DEBT ISSUE AND SALE OF TREASURY... Bank, or Branch or to the Bureau of the Public Debt, Washington, DC 20226. If a special envelope is not... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Tenders; when cash deposit...

  4. Are Conditional Cash Transfers Effective in Urban Areas? Evidence from Mexico

    Science.gov (United States)

    Behrman, Jere R.; Gallardo-Garcia, Jorge; Parker, Susan W.; Todd, Petra E.; Velez-Grajales, Viviana

    2012-01-01

    Conditional cash transfer (CCT) programs have spread worldwide as a new form of social assistance for the poor. Previous evaluations of CCT programs focus mainly on rural settings, and little is known about their effects in urban areas. This paper studies the short-term (1- and 2-year) effects of the Mexican "Oportunidades" CCT program…

  5. Cash cropping, subsistence agriculture, and nutritional status among mothers and children in lowland Papua New Guinea.

    Science.gov (United States)

    Shack, K W; Grivetti, L E; Dewey, K G

    1990-01-01

    The influence of cash crop income, subsistence agriculture, and purchased foods on nutritional status was examined among three ethnic groups in lowland Papua New Guinea. In their home areas, these groups had been hunter-gatherers, agriculturalists, and hunter-gatherers with limited agriculture. Multiple regression revealed that cash crop income was positively associated with anthropometric status and energy intake among children. Expenditure on food was related to the child's arm circumference but not to nutrient intake. The amount of food planted in the garden was not related to child nutritional status. In contrast, the amount of food planted was positively associated with body mass index of mothers. Consumption of rice and fish was related to food expenditures. Nutritional status was better among families who were agriculturalists prior to resettlement than among hunter-gatherers. The former had more income from cash crops, smaller households, and planted more food in their gardens. Therefore, cash cropping need not decrease nutritional status if home gardens are maintained.

  6. CASH FLOW IMPLICATIONS OF FIXED VERSUS VARIABLE INTEREST RATE DEBT STRUCTURES

    OpenAIRE

    Moe, Lonn; Thompson, Jerry L.

    1984-01-01

    The objective of this study was to discover the magnitude of the effect variable rate loans have on net operating cash flow over the period from 1968 to 1981. This was done by comparing a variable rate loan model with a fixed rate loan model under varying debt loads for four farm types.

  7. New York City's First Conditional Cash Transfer Program: What Worked, What Didn't

    Science.gov (United States)

    Riccio, James; Miller, Cynthia

    2016-01-01

    This report summarizes the findings of a long-term evaluation of Opportunity NYC--Family Rewards, an experimental, privately funded, conditional cash transfer (CCT) program to help families break the cycle of poverty. Family Rewards was the first comprehensive CCT program in a developed country. Launched in 2007 by New York City's Center for…

  8. Bitcoin as cash in terms of the european anti-money laundering directive

    NARCIS (Netherlands)

    Kaiser, Carolin

    2016-01-01

    The European Anti-Money Laundering Directive 2015/849 sets out detailed rules for the prevention of money laundering and terrorist financing. It presents a clear framework for financial institutions, covering both cash and electronic payments systems. However, the directive fails to regulate digital

  9. Moral Hazard and Cash Benefits in Long-term Home Care

    NARCIS (Netherlands)

    van den Berg, B.; Hassink, W.H.J.

    2004-01-01

    This paper tests empirically for ex-post moral hazard in a system based on demandside subsidies. In the Netherlands, demand-side subsidies were introduced in 1996. Clients receive a cash benefit to purchase the type of home care (housework, personal care, support with mobility, organisational tasks

  10. Ángel Campos Pámpano. Una voz necesaria

    Directory of Open Access Journals (Sweden)

    José Soto Vázquez

    2009-06-01

    Full Text Available Reseña BibliográficaRosalía Muñoz Ramírez, Rafaela Cano López, Antonio Cardeñosa Romero, Mª de la Soledad Gómez Domínguez, Mª Pía Gragera Rodríguez, Gloria Luna Gutiérrez, Mª Remedios Moreno Lobo, Ramón Pérez Parejo, Irene Sánchez Carrón, Mª Pilar Santos Salgado. Ángel Campos Pámpano. Una voz necesaria. Consejería de Educación de la Junta de Extremadura. Mérida. 2009. 54 págs. ISBN: 978-84-96212-66-4

  11. EL TRABAJO DE CAMPO EN BIOGEOGRAFÍA

    Directory of Open Access Journals (Sweden)

    Concepción Fidalgo Hijano

    1997-12-01

    Full Text Available Las prácticas de campo constituyen el mediomás idóneo para que los alumnos pongan aprueba la solidez de los conocimientos teóricosadquiridos, se ejerciten en las técnicas de 'observación, descripción, expresión gráfica ytoma de datos y maduren su espíritu crítico enrelación con los contenidos que le son transmitidosy con los resultados que ellos mismospueden obtener de sus propios análisis.Su finalidad es doble, por una parte informativa,descubrir en la complejidad de la naturalezaaquello que se ha visto simplificado en elaula, y por otra formativa, desplegar todas lascapacidades del individuo para aprender larealidad.

  12. Cash transfers and social vulnerability in Bosnia: a cross-sectional study of households and listed beneficiaries.

    Science.gov (United States)

    Andersson, Neil; Paredes-Solis, Sergio; Sherr, Lorraine; Cockcroft, Anne

    2013-06-01

    Promoted as a means of fueling markets and encouraging economic growth or recovery, cash transfers have become a popular approach to international assistance. The literature recognizes potential problems such as insecurity, corruption, misuse, gender inequality, market inflation, and ineffective targeting. We carried out population and beneficiary surveys in 1997 to evaluate the targeting of cash transfers in Bosnia soon after the end of the conflict. The population survey visited a random sample of clusters from population registers in Bosnia and Herzegovina (BiH) and Republika Srpska (RS). A directly administered questionnaire asked households whether they received any cash handouts from the Municipal Welfare Office in the last year, and, if so, for what purpose, the amount, and how they used the money. We calculated coverage and inclusion and exclusion errors of the program. The field team also identified cash transfers beneficiaries from official lists of the program and attempted to contact a random sample of them to ask about their experience. It was not possible to confirm receipts of cash in one third of the sample of 840 named beneficiaries; 19% could not be traced and 17% of those found denied receiving any cash. In the general population survey of 7182 households, coverage rates with cash assistance (11% in BiH, 3% in RS) were at least 44% lower than those declared by the distribution agencies, with considerable variation between cantons. Exclusion errors were high: 83% of those eligible according to the program's income criterion did not receive any cash. Although sufficient cash was dispensed to reach every United Nations High Commission for Refugees priority 1 (most needy) household, only 13% of these households (278/2125) admitted receiving any cash. Inclusion errors were also high: 60% of all of those who received cash were not in the priority 1 category and 46% were not eligible according to the program's income criterion. Extrapolating from the

  13. The effects of national cash awards for science teaching on recipients and their peers

    Science.gov (United States)

    Weld, Jeffrey Donn

    Cash teaching awards available to science teachers in the U.S. have goals to improve science teaching. This study assessed the effectiveness of five national cash award programs at identifying exemplars and inspiring better science teaching. Award winning secondary science teachers provided their perceptions of the effects of an award on their own teaching and on the profession as a whole. Randomly selected secondary science teachers across the U.S. reported their perceptions of the effects of the existence of awards on their own teaching and on the profession. Program directors for the five national cash awards were interviewed to determine the intentions and strategies of their award programs. The criteria that guide the selection of award winners were found to align with research-supported exemplar characteristics, but the methods used for identifying outstanding teachers were found to be inadequate for that purpose. Award winning science teachers perceive awards to result from, rather than to inspire, good teaching. Their motivation derives from student achievement and a job well done. The valued effects of winning an award are the recognition and increased respect that follow. Award winners perceive awards as difficult to win, minimally motivating, and frequently causing of dissension among peers. In most respects award winners perceive increased intrinsic rewards to accompany recognition through cash awards. Randomly selected U.S. science teachers who have not won cash awards perceive them as poor motivational incentives because too few awards exist, the basis for recognition is unclear, and the award itself is not a valued outcome. Most science teachers consider themselves good teachers and would apply for an award despite doubts that they would win. Direct comparisons reveal that winners and nonwinners have widely divergent opinions of awards. Winners of lesser cash amounts have the same perceptions of awards as winners of greater cash amounts. Effective

  14. Global Reserve Cooperation

    Science.gov (United States)

    2011-03-24

    St ra te gy R es ea rc h Pr oj ec t GLOBAL RESERVE COOPERATION BY LIEUTENANT COLONEL PAMELA L. MCGAHA United States Army National Guard...DATES COVERED (From - To) 4. TITLE AND SUBTITLE Global Reserve Cooperation 5a. CONTRACT NUMBER 5b. GRANT NUMBER 5c. PROGRAM...decade, the United States, its allies, and partner nations have greatly increased their reliance on Reserve Component forces. This global

  15. GEOMORFOLOGIA DO CAMPO DE INSELBERGUES DE QUIXADÁ, NORDESTE DO BRASIL

    Directory of Open Access Journals (Sweden)

    Rúbson Pinheiro Maia

    2015-06-01

    Full Text Available Ao norte do Maciço da Borborema, no Nordeste Brasileiro, vários campos de inselbergues caracterizam as depressões sertanejas. Esses relevos ocorrem principalmente em áreas de intrusões graníticas que atualmente estão sendo exumadas pela erosão diferencial. Em Quixadá, no estado do Ceará, ocorre um dos mais representativos campo de inselbergues do Brasil. Trata-se de diversas massas rochosas em geral côncavo-convexas ou fraturadas, formada pela exposição subaérea de um batólito granítico. Nesse trabalho, individualizamos as diversas formas de inselbergues agrupando-as segundo seus padrões morfológicos. Esses padrões foram correlacionados com as fáceis do granito e com a densidade de fraturamento. Observamos que as fáceis porfiríticas ricas em fenocristais de feldspato originaram inselbergues com feições de dissolução do tipo caneluras e vasques, enquanto as fáceis caracterizadas pela presença de diques e enclaves máficos originaram inselbergues caracterizados por feições de fraturamento do tipo taffonis de colapso. Essa correlação nos permitiu concluir que mesmo dentro de uma mesma unidade litológica como o granitoide, as variações faciológicas internas podem resultar em feições distintas de acordo com as características mineralógicas e texturais da rocha e do fraturamento.

  16. Teorias sobre o amor no campo da Psicologia Social

    Directory of Open Access Journals (Sweden)

    Priscilla de Oliveira Martins-Silva

    Full Text Available Este é um ensaio teórico sobre o fenômeno amor em relacionamentos românticos no campo da Psicologia e no da Psicologia social. São apresentadas as primeiras teorias sobre o amor na Psicologia, e, posteriormente, são abordadas em maior profundidade três teorias da Psicologia social: os estilos de amor de John Alan Lee, a teoria de apego, de Phillip Shaver, Cindy Hazan e Donna Bradshaw, e a teoria triangular do amor, de Robert J. Sternberg. São apresentados os aspectos teóricos, empíricos e metodológicos de cada teoria, e sua análise permitiu observar que o amor é um fenômeno complexo e detectar a presença de divergências teóricas e metodológicas. A complexidade é observada na diversidade teórica e nos resultados de pesquisas encontrados. Teoricamente, foi registrada divergência na forma como o amor é concebido; metodologicamente, houve o predomínio de abordagens quantitativas, com a presença de diferentes escalas. Identifica-se que algumas questões precisam ser mais bem investigadas, assim como os instrumentos de medidas adotados. Nota-se, assim, que essa área de estudo ainda está em processo de evolução e que a realização de mais pesquisas pode contribuir para o desenvolvimento do campo. Ao final, sugere-se o estudo da interação da cultura via crenças e valores na vivência do amor e maior utilização de abordagens qualitativas.

  17. Development of the caregivers attitude scale on home care of schizophrenics (CASHS).

    Science.gov (United States)

    Balasubramanian, N; Sathyanarayana Rao, T S; D'Sa, Juliana Linnette

    2014-01-01

    Schizophrenia is a severe mental disorder that elicits feelings of strangeness and discomfort, which may create stigma and lead to the social exclusion of the mentally ill and of the people relating with them. In the past decade, there has been an increase in the number of research studies on attitudes toward mental disorders. An instrument was developed to assess the attitude of primary caregivers on home care of schizophrenics. This article describes the development of a Likert scale, the Caregivers Attitude Scale on Home Care of Schizophrenics CASHS, which is a 31-item self-reported instrument that quantifies three aspects of home care, that is, attitude towards patient, towards treatment, and towards social interaction. The steps involved in its development are the review of literature, development of items, content validation, translation and language validity, pretesting, and reliability. After establishing the content validity, the CASHS was pretested with five subjects. To establish the reliability of the CASHS, 21 primary caregivers were recruited through purposive sampling technique. In order to measure the stability between scores obtained, a test-retest reliability was computed using Karl Pearson correlation coefficient and the r value was 0.78. The internal consistency was measured using Cronbach's alpha and item-total correlation and the r value was 0.789. The item discrimination analysis was also computed and the value was of above 0.35. These statistical measurements indicate that the CASHS was reliable. The CASHS is a valid and reliable tool that can be utilized for assessing the attitude of primary caregivers on home care of schizophrenics.

  18. Electronic Cash System with Multiple Banks%多银行电子现金系统

    Institute of Scientific and Technical Information of China (English)

    张方国; 张福泰; 王育民

    2001-01-01

    Secure and efficient electronic payment systems are significant for electronic commerce. Electronic cash (e-cash, or digital cash) is a very important electronic payment system. The first electronic cash scheme was suggested by Chaum in 1982. In the scheme the technique of blind signatures was used to guarantee the privacy of users. But this complete anonymity of electronic cash can be used for criminal activities, such as money laundering, blackmailing[7]. To overcome this drawback, J. Camenisch et al.[6] and Y. Frankel et al.[4] proposed the concept of ‘Fair Off-line Electronic Cash’ independently in 1996. They also presented two schemes of fair off-line electronic cash. The untraceability of fair off-line electronic cash is not completely. It can be revoked by a trusted third party so that the criminal activities making use of the complete anonymity of electronic cash can be prevented. By now the electronic coins in fair electronic cash schemes available are issued by only one bank. However, in practice a shop and its users may use different banks so it is more convenient to use electronic coins issued by multiple banks. The purpose of this paper is to present a fair electronic cash system that is applicable to the situation where the shop and its users may use different banks. Since in a country or district there may be more than one banks who are able to issue electronic cash. We assume these banks form a group under control of an authorized party such as the Central Bank of the country, we propose a model for fair electronic cash issued by multiple banks for the first time. A scheme of fair electronic cash with multiple banks in which a user can be traced is presented by using the improved group signature scheme of Cam97[5] and group blind signature scheme of Lys98[6]. Our system of fair electronic cash with multiple banks has the following properties: (1) The user can spend his electronic coin anonymously. No bank can trace any

  19. Costs and consequences of a cash transfer for hospital births in a rural district of Uttar Pradesh, India.

    Science.gov (United States)

    Coffey, Diane

    2014-08-01

    The Janani Suraksha Yojana, India's "safe motherhood program," is a conditional cash transfer to encourage women to give birth in health facilities. Despite the program's apparent success in increasing facility-based births, quantitative evaluations have not found corresponding improvements in health outcomes. This study analyses original qualitative data collected between January, 2012 and November, 2013 in a rural district in Uttar Pradesh to address the question of why the program has not improved health outcomes. It finds that health service providers are focused on capturing economic rents associated with the program, and provide an extremely poor quality care. Further, the program does not ultimately provide beneficiaries a large net monetary transfer at the time of birth. Based on a detailed accounting of the monetary costs of hospital and home deliveries, this study finds that the value of the transfer to beneficiaries is small due to costs associated with hospital births. Finally, this study also documents important emotional and psychological costs to women of delivering in the hospital. These findings suggest the need for a substantial rethinking of the program, paying careful attention to incentivizing health outcomes. Copyright © 2014 Elsevier Ltd. All rights reserved.

  20. Come into Spain, Come into Alberto Campo Baeza%走进西班牙,走近Alberto Campo Baeza

    Institute of Scientific and Technical Information of China (English)

    刘丛

    2007-01-01

    西班牙当红建筑师--Alberto Campo Baeza,应邀于2007年9月在中国做了“大师之旅建筑讲演会”,该活动成为中国“西班牙文化年”的一部分将西班牙的建筑文化展现给中国。在当今Koolhaas、Zaha Hadid、Herzog & De Meuron、Toyo Ito、Frank Gehry等明星建筑师风靡国内的年代,大多数人对于这个来自西班牙的建筑师却不是很了解。

  1. Ovarian reserve parameters

    DEFF Research Database (Denmark)

    Bentzen, J G; Forman, Julie Lyng; Pinborg, Anja;

    2012-01-01

    was observed between duration of hormonal-contraception use and ovarian reserve parameters. No dose-response relation was found between the dose of ethinyloestradiol and AMH or AFC. This study indicates that ovarian reserve markers are lower in women using sex steroids for contraception. Thus, AMH...

  2. HYDROCARBONS RESERVES IN VENEZUELA

    Energy Technology Data Exchange (ETDEWEB)

    Gonzalez Cruz, D.J.

    2007-07-01

    Venezuela is an important player in the energy world, because of its hydrocarbons reserves. The process for calculating oil and associated gas reserves is described bearing in mind that 90% of the gas reserves of Venezuela are associated to oil. Likewise, an analysis is made of the oil reserves figures from 1975 to 2003. Reference is also made to inconsistencies found by international experts and the explanations offered in this respect by the Ministry of Energy and Petroleum (MENPET) and Petroleos de Venezuela (PDVSA) regarding the changes that took place in the 1980s. In turn, Hubbert's Law is explained to determine peak production of conventional oil that a reservoir or field will reach, as well as its relationship with remaining reserves. Emphasis is placed on the interest of the United Nations on this topic. The reserves of associated gas are presented along with their relationship with the different crude oils that are produced and with injected gas, as well as with respect to the possible changes that would take place in the latter if oil reserves are revised. Some recommendations are submitted so that the MENPET starts preparing the pertinent policies ruling reserves. (auth)

  3. Forex Reserve Puzzle

    Institute of Scientific and Technical Information of China (English)

    2011-01-01

    China faces pressure of preserving the value of its $3 trillion foreign exchange reserves While already under pressure to revalue its currency,the yuan,against the U.S.dollar,China also faces the challenge of stifling vast losses to its foreign exchange reserve,mostly denominated in U.S.dollars.These losses to foreign exchange

  4. Blueprint for Energy Reserves

    Institute of Scientific and Technical Information of China (English)

    Hao Zhenying

    2008-01-01

    @@ The government is drafting a strategic reserve blueprint to ensure energy security-the move coming close on the heels of the construction of four oil reserve bases, according to Ma Fucai, deputy director of the Office of the National Energy Leading Group.

  5. CANINE EHRLICHIOSIS IN CAMPOS DOS GOYTACAZES, RIO DE JANEIRO, BRAZIL ERLIQUIOSE CANINA EM CAMPOS DOS GOYTACAZES, RIO DE JANEIRO, BRASIL

    Directory of Open Access Journals (Sweden)

    Orlando Augusto Melo Jr.

    2007-12-01

    Full Text Available

    It was evaluated 1.576 dogs with the intention to search positivity and to analyze hematological aspects of dogs infected with Ehrlichia spp. in Campos dos Goytacazes. The research of blood-parasites and complete blood counts had been carried out, to determine the occurrence and hematological aspects of dogs infected for Ehrlichia spp. The diagnosis was based by visualization of the Ehrlichia spp. morulae in the leukocytes, its great majority was in monocyte, being considered infected 219 (13,89% dogs. Anemia, thrombocytopenia, nuclear left deviation neutrophils, eosinopenia and absolute monocytopenia was been the most hematological alterations found.

    Key-words: Blood smears, Ehrlichia spp., hematology.

    Com o propósito de pesquisar a positividade e analisar os aspectos hematológicos de cães infectados com Ehrlichia spp. na cidade de Campos dos Goytacazes, avaliaram-se 1.576 cães. Realizaram-se pesquisa de hemocitozoários e hemograma para se determinar a ocorrência e os aspectos hematológicos dos cães infectados por Ehrlichia spp. Baseou-se o diagnóstico no achado de mórulas de Ehrlichia spp. nos leucócitos, em sua maioria nos monócitos, sendo considerados infectados 219 (13.89% cães.   Anemia, trombocitopenia, DNNE leve, eosinopenia e monocitopenia absolutas foram as alterações hematológicas mais observadas.

    Palavras-chaves: Esfregaço sangüíneo, hematologia, Ehrlichia spp.

  6. Distribución de Crocus nevadensis Amo & Campo, Rest. Farm. 1861 en Navarra

    OpenAIRE

    Cavero, R.Y. (Rita Yolanda); Garde-Navarro, M.L. (M. L.); Lopez, M L

    1992-01-01

    Distribución y ecología de Crocus nevadensis Amo & Campo in Navarra. Se ha estudiado la distribución y el hábitat de Crocus nevadensis en la provincia de Navarra. Abstract: Distribution and ecology of Crocus nevadensis Amo & Campo in Navarra. We give the distribution and habitat of Crocus nevadensis in the Navarra country.

  7. Tema 4. Campo magnético (Curso 2009-2010)

    OpenAIRE

    Pérez Rodríguez, Jorge; Miret Marí, Juan José; Caballero Caballero, María Teresa; Espinosa Tomás, Julián

    2009-01-01

    1. Interacción magnética. 2. Fuerzas sobre cargas y corrientes en campos magnéticos. 3. Campos magnéticos creados por corrientes. Ley de Ampère. 4. Inducción magnética. Ley de Faraday. 5. Bobinas: inductancia. Equivalencia entre bobinas e imanes. Energía magnética.

  8. Building the Cash Dividend Policy Identification Model for China’s Agricultural Listed Companies Based on 2007 to 2010 Data

    Institute of Scientific and Technical Information of China (English)

    WANG Lei

    2012-01-01

    The dual agency relation and lack of effective incentive and restraint mechanism make stock right structure of China’s listed companies special.This special stock right structure will inevitably exert direct and profound influence on formulation of cash dividend policies.Based on the 2007 to 2010 data of China’s agricultural listed companies and focusing on the stock right structure,this paper selected 6 indicators and the BP ANN to build the cash dividend policy identification model,in the hope of helping investors accurately predict influence of stock right structure on cash dividend policies,so as to reduce investment risk to some extent.

  9. The tourism potential for birdwatching in three green areas in the city of Campo Grande, MS

    Directory of Open Access Journals (Sweden)

    Emilia Alibio Oppliger

    2016-05-01

    Full Text Available The objective of this study was to evaluate the tourism potential of birds found in three public green areas (a park, a square and a pond, in the city of Campo Grande. The qualitative survey of avifauna totaled 55 observation hours, by the method of direct observation by points. The species were recorded and the frequency of occurrence (FO of each species by analyzed area was calculated. We recorded 107 species, totaling 12% of the Cerrado biome and blue-and-gold macaws were the species with absolute frequency of occurrence in the three areas. Each of the areas presented exclusive species and the park, the largest number of recorded species, standing out as an appropriate place to hold the birdwatch. However, the tourism potential for observing these birds should be strengthened by other actions such as check for complementarity between supply and demand, planning and building elements themselves to the observation activities, organize and present the practical arrangements for the birds observation in accordance with the supply constraints and the level of involvement and expertise of birdwatchers. Local people should be mobilized and motivated to know about the birds that are part of the landscape; the private sector can use a formatted tourism product and create new products or needs, such as crafts or printed guides; and the participation of the government is essential in promoting the 'birdwatching urban script ' product, as in the maintenance of urban nature reserves.

  10. Densidade populacional de raposa-do-campo Lycalopex vetulus (Carnivora, Canidae em áreas de pastagem e campo sujo, Campinápolis, Mato Grosso, Brasil

    Directory of Open Access Journals (Sweden)

    Ednaldo C. Rocha

    2008-03-01

    Full Text Available Diante da crescente descaracterização do Bioma Cerrado em função da expansão da fronteira agropecuária na região central do Brasil, torna-se importante avaliar a capacidade de adaptação das espécies ao ambiente antropizado. Neste sentido, este trabalho foi desenvolvido com o objetivo de estimar e comparar a densidade populacional da raposa-do-campo Lycalopex vetulus (Lund, 1842 em duas áreas com diferentes graus de alteração, pastagem e campo sujo, em Campinápolis, Mato Grosso. Para tanto, no período entre agosto a novembro de 2005, foram efetuados censos noturnos ao longo de transectos lineares, totalizando percursos de 129,8 km na área de campo sujo e 62,08 km na área de pastagem. Estimativas de densidade populacional foram geradas utilizando o programa Distance 5.0, sendo que o modelo e ajuste mais adequados aos dados foram half-normal + hermite. Foram obtidas 23 e 52 detecções de raposas-do-campo nas áreas de campo sujo e pastagem, respectivamente. A densidade populacional de raposa-do-campo na área de pastagem (D=4,28 indivíduos/km²; IC=2,69 - 6,82 foi maior que na área de campo sujo (D=1,21 indivíduos/km²; IC=0,73 - 2,01, fato que deve estar relacionado, principalmente, com a disponibilidade de alimento e redução de potenciais predadores. Por apresentar uma dieta composta principalmente de cupins, especialmente os dos gêneros Syntermes e Cornitermes, a raposa-do-campo encontra na área de pastagem uma base alimentar abundante e estável. Além disto, a simplificação ambiental, em função da implantação de pastagens acaba por reduzir, ou até mesmo eliminar, animais que são potenciais predadores de raposas-do-campo, como Chrysocyon brachyurus (Illiger, 1815, favorecendo o aumento da densidade populacional da espécie neste tipo de ambiente. Por fim, características adaptativas apresentadas pela raposa-do-campo têm permitido que esta espécie sobreviva, inclusive apresentando elevada densidade

  11. Chuva de sementes em remanescentes florestais de Campo Verde, MT

    Directory of Open Access Journals (Sweden)

    William Pietro-Souza

    2014-08-01

    Full Text Available O objetivo deste trabalho consistiu em avaliar sazonalmente a produção de sementes provenientes de fragmentos florestais presentes na zona rural de Campo Verde, MT. Essa caracterização ocorreu em termos de produção de sementes e riqueza de espécies vegetais. Foram selecionados três fragmentos florestais caracterizados como Floresta Estacional Semidecidual. Em cada fragmento, cinco coletores foram instalados e confeccionados com canos de PVC (1 m²; malha de náilon de 0,001 m e 0,15 m de profundidade do bojo. O material foi coletado mensalmente, cujas sementes foram quantificadas e separadas conforme a síndrome de dispersão, etapa sucessional e forma de vida. Houve a determinação da densidade, frequência absoluta, índice de diversidade e equitabilidade. Ao todo, foram obtidas 3.622 sementes, pertencentes a 74 táxons. Maiores densidades de sementes foram observadas durante os meses de setembro, outubro e novembro. As lianas Gouania sp., Fridericia speciosa, Heteropterys sp. e Distictella sp. responderam com 55,95% do total de sementes aportadas. Das espécies que compuseram a chuva de sementes, 74% não são dispersas pelo vento. Todavia, quando se verificou a quantidade de diásporos coletados, formas dispersas pelo vento foram predominantes, representando 76% do total. Citam-se como táxons arbóreos importantes para a recomposição florestal na região de Campo Verde, situada no Sudeste de Mato Grosso: Tachigali rubiginosa, Siparuna guianensis, Nectandra sp., Cordia alliodora, Alibertia sp., Terminalia brasiliensis e Myrcia sp. Essas espécies devem ser alvo de estudos mais específicos relacionados ao seu potencial para recuperação de ambientes degradados, considerando-se as Áreas de Preservação Permanente e Reservas Legais.

  12. Bargeld als elementarer Bestand einer freiheitlichen Gesellschaftordnung. Cash as an elementary component of liberal social order

    Directory of Open Access Journals (Sweden)

    Manfred O.E. Hennies

    2016-08-01

    Full Text Available Since state institutions began using account screening, in the bank sector, not only in cases of suspicion, but as a standard procedure for monitoring account and invest-ment data, much of the illegal transfer of funds has shifted towards cash payments. In order to hinder, or even do away with such illegal monetary transactions, the EU is considering two possible courses of action; one moderate and one more radical. The moderate solution would see the introduction of legislation restricting the amount of cash used in payments. Several countries already have such legislation. It is possible that this limit could be adjusted by governments ad hoc, and could even be set at zero. This would be the radical course of action; doing away completely with cash payments. The consequence would be that the transfer of money would only be possible by bank transfer from account to account. Representatives of the banking sector are in favour of the campaign to eliminate the use of cash transactions, as this would lead to advantages within the banking indus-try. However, there would be many disadvantages for the general public. In the world of commerce, contractual liberty is a fundamental principle. All contracting parties have the right, within the law, to negotiate the terms of a contract to be signed, laying down goods or payment (cash included to be made, as a part of the contract. Thus, legislation restricting the use of cash would be a breach of the free-dom of rights as laid down in the constitution of any EU country. The question as to whether or not to do away with the use of 500, - Euro bank notes is of little interest to legal and private monetary transactions, as these are seldom used in such cases. Since these notes are a simple way of transporting large sums of money unnoticed, their use is mainly limited to the world of illegal transactions where large sums of money need to be moved, as in the case of money laundering

  13. ¿CUÁNTO DURA UNA INVERSIÓN DEL CAMPO MAGNÉTICO TERRESTRE? Nuevos datos de la última inversión del campo magnético terrestre

    OpenAIRE

    Sagnotti, L.

    2014-01-01

    CUÁNTO DURA UNA INVERSIÓN DEL CAMPO MAGNÉTICO TERRESTRE? El campo magnético terrestre (o campo geomagnético) está generado por el movimiento complejo que tiene lugar en el núcleo externo de la Tierra. En su mayor parte, este campo es asimilable al que generaría una barra de imán situada en el centro del planeta.

  14. Interpretation of Biosphere Reserves.

    Science.gov (United States)

    Merriman, Tim

    1994-01-01

    Introduces the Man and the Biosphere Programme (MAB) to monitor the 193 biogeographical provinces of the Earth and the creation of biosphere reserves. Highlights the need for interpreters to become familiar or involved with MAB program activities. (LZ)

  15. Professor reveals darter reserve

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — Newspaper article on on reserve population of watercress darter in Pinson, AL to help save the population in Roebuck Spring after a significant fish kill in 2008.

  16. Review of Nuria del Campo Martínez: Illocutionary Constructions in English: Cognitive Motivation and Linguistic Realization (2013)

    DEFF Research Database (Denmark)

    Jensen, Kim Ebensgaard

    2014-01-01

    A review of Nuria del Campo Martínez: Illocutionary Constructions in English: Cognitive Motivation and Linguistic Realization (2013)......A review of Nuria del Campo Martínez: Illocutionary Constructions in English: Cognitive Motivation and Linguistic Realization (2013)...

  17. municipio Antolín del Campo. Estado Nueva Esparta

    Directory of Open Access Journals (Sweden)

    Rebeca Morales A.

    2006-01-01

    Full Text Available Se caracteriza la situación actual de la Gastronomía Típica Margariteña como atractivo turístico del Municipio Antolín del Campo. Se determinan los elementos que la componen, se inventariaron los productos de la Gastronomía Típica Margariteña ofertados por los restaurantes del municipio y se identificó el tipo de promoción, se obtuvo la opinión de turistas y propietarios de los restaurantes, respecto a esta gastronomía como Atractivo Turístico. El estudio es descriptivo. Como conclusión se obtuvo que: la gastronomía Típica Margariteña no es resaltada como elemento del folklore margariteño, es ofrecida como una opción más en el menú no como plato principal, los restaurantes que ofrecen gastronomía Típica Margariteña no utilizan ningún tipo de promoción para la misma.

  18. Fibromialgia: perspectivas de um campo problemático

    Directory of Open Access Journals (Sweden)

    Luis Eduardo Ponciano Aragon

    2010-03-01

    Full Text Available Este trabalho está ligado a pesquisas a respeito de processos de subjetivação e adoecimento contemporâneos, pela abordagem afirmativa e não reducionista da fibromialgia. Formula-se uma metodologia chamada de afirmação do campo problemático, a qual procura resistir à abordagem dialética e à negativação dos sinais e sintomas, para captar a processualidade do jogo de afetos e da produção de signos de hoje, fazendo uso de instrumental psicanalítico, filosófico e clínico. A indiscernibilidade dos limites, a multiplicação de superfícies e a alienação dos ritmos participantes dos processos vitais de individuação surgem como resultados da pesquisa e propõe-se abordar um corpo-questão como território de incidência política, ética e clínica.

  19. Acerca de los estilos cognitivos: dependencia- independencia de campo

    Directory of Open Access Journals (Sweden)

    Anibal Meza

    1987-12-01

    Full Text Available Se ofrece una breve revisión de la literatura sobre los Estilos Cognitivos de Dependencia- Independencia del Campo (De-le. Se hace notar la ausencia de investigaciones peruanas sobre el tema y se delimita al ámbito de la temática De-le. Se da cuenta del origen de la De-le como constructo, anclándolo al interior del constructo mayor "diferenciación psicológica". Se reseñan los modos de evaluación y se enlistan las características de la De-le como estilos cognitivos (son dimensiones penetrantes del funcionamiento individual, son variables de proceso antes que de contenido y constituyen una dimensión bipolar y de valor neutral. Se ven las relaciones De-le -conducta interpersonal: tipo de orientación interpersonal, responsividad a claves sociales e intereses y respuestas interpersonales típicas. Finalmente, se examinan los orígenes ontogenético (restringiendo la revisión a efectos de entrenamiento y la crianza infantil y cultural de la De-le.

  20. Writing under cover: Cristina Campo as translator of John Donne

    Directory of Open Access Journals (Sweden)

    Maria Panarello

    2009-12-01

    Full Text Available The study of Cristina Campo’s translations offers a precious contribution to those of us who are attempting to investigate the unknown area that lies in the shadowy zone between the source text and its translation. Vittoria Guerrini, a rather solitary and reticent figure in 20th-century Italian literature, wrote under several pen names, of which her favourite was Cristina Campo, the masque she chose for her beautiful and intense translations of a small but significant collection of poems by John Donne. This paper aims at exploring Cristina Campo’s attitude towards translation and the unique relationship she established with the poets she translated. John Donne’s translations reflect a singular solidarity displaying points of affinity between two extremely complex personalities. The dialogic rapport abolishes difference in space and time, as well as difference in language, as author and translator testify the same supreme tension towards beauty, truth and perfection. Translation in this perspective is a sacred gesture of mediation.

  1. Fibromialgia: perspectivas de um campo problemático

    Directory of Open Access Journals (Sweden)

    Luis Eduardo Ponciano Aragon

    Full Text Available Este trabalho está ligado a pesquisas a respeito de processos de subjetivação e adoecimento contemporâneos, pela abordagem afirmativa e não reducionista da fibromialgia. Formula-se uma metodologia chamada de afirmação do campo problemático, a qual procura resistir à abordagem dialética e à negativação dos sinais e sintomas, para captar a processualidade do jogo de afetos e da produção de signos de hoje, fazendo uso de instrumental psicanalítico, filosófico e clínico. A indiscernibilidade dos limites, a multiplicação de superfícies e a alienação dos ritmos participantes dos processos vitais de individuação surgem como resultados da pesquisa e propõe-se abordar um corpo-questão como território de incidência política, ética e clínica.

  2. ``Campo del Cielo'' Meteorites: Astronomical Heritage and Cultural Colonialism

    Science.gov (United States)

    López, Alejandro Martín; Altman, Agustina

    2012-09-01

    In the province of Chaco, Argentina, there is a very unique dispersion of metallic meteorites called ``Campo del Cielo''. One of the meteoric fragments of this dispersion, the meteorite called ``El Chaco'', consisting of 37 tons, is the second heaviest in the world. These meteorites are of great importance to the worldview of the Moqoit, aboriginal people that inhabit this region. For the local Creole population the meteorites are also relevant, that's why they have being cited in numerous documents and reports since the colonial period. During the first months of 2012, two Argentine artists and the Artistic Director of the German contemporary art exhibition called dOCUMENTA (13) tried to move ``El Chaco'' meteorite to Germany in order to exhibit it as an artistic object. Due to the fact that moving the meteorite could have a negative impact according to the Moqoit cosmology and that they were not able to participate in the decision they begun a manifestation against the movement of El Chaco. The opposition made by aboriginal communities and experts in cultural astronomy was able to stop the transfer. The whole process and its impact on the local community have promoted a deep discussion about art, science and cultural colonialism. In this paper we aim to address this debate and its consequences. This will allow us to think about contemporary forms of colonialism that are hidden in many scientific and artistic projects. Furthermore, we aim to debate about the most effective ways of protecting astronomical heritage in the Third World.

  3. Insomnia and hypnotic use in Campo Grande general population, Brazil

    Directory of Open Access Journals (Sweden)

    Souza José Carlos

    2002-01-01

    Full Text Available The insomnia prevalence in general population was determined by means of 408 home interviews of adults, in a representative sample of Campo Grande city, Brazil. The random sample was stratified by sex, age and economic social status. Insomnia subtypes evaluated were the disorders of sleep initiation (DSI, sleep maintenance (DSM and early awakening (DEA. A structured questionnaire was used with the consent from the interviewed subjects. Statistics used chi-square, and Fisher tests; and inferences based on binomial distribution parameters; the significance level was 5% and confidence interval (CI was 95%.The general prevalence of insomnia was 19.1% (sd=2.0%, mostly women (p=0.0015, and people of less years of schooling (p=0.0317, subtype DSI (14.2%, p=0.0043, and chronic (p=0.7022. Hypnotic drugs were used by 6.9%(sd=1.3% in the last month. Use in the last 2 years, 70.3% mostly insomniacs (p<0.0001, women (p=0.0372 and people over 30 years of age (p=0.0536.

  4. Corporate Cash Holdings and Adjustment Behaviour in Chinese Firms: An Empirical Analysis Using Generalized Method of Moments

    Directory of Open Access Journals (Sweden)

    Ajid ur Rehman

    2016-05-01

    Full Text Available This study is intended to find out the motives of cash holding in Chinese firms and theories associated with these motives. The study is unique because it not only estimates the adjustment speed of corporate cash holdings but also discuss several firm specific factors that affects cash holdings in Chinese firms with special reference to Chinese SOEs and NSOEs. An extensive set of panel data comprising 1632 A listed Chines firms, over a period from 2001 to 2013 are taken for analysis. The study reports a lower adjustment coefficient for Chinese firms compared to other developed nations. The study finds that target level of cash holdings in Chinese firms is better explained by Trade off and Pecking order theories. To cope with issues of endogeneity and serial correlation the study apply GMM and random effects model with an added AR (autoregressive term.

  5. 煤炭企业现金流管理研究%Study on Cash Flow Management of Coal Enterprise

    Institute of Scientific and Technical Information of China (English)

    赵金鹏

    2012-01-01

    分析了企业现金流管理的目标和原则,对企业经营活动产生的现金流、投资活动产生的现金流和筹资活动产生的现金流如何管理提出了建议。%The paper analyzed the target and principle of the cash flow management for the enterprise.The paper provided the proposals on how to manage the cash flow occurred from the enterprise business activities,the cash flow occurred from the investment activities and the cash flow occurred from the financing activities.

  6. What does free cash flow tell us about hospital efficiency? A stochastic frontier analysis of cost inefficiency in California hospitals.

    Science.gov (United States)

    Pratt, William R

    2010-01-01

    Hospitals are facing substantial financial and economic pressure as a result of health plan payment restructuring, unfunded mandates, and other factors. This article analyzes the relationship between free cash flow (FCF) and hospital efficiency given these financial challenges. Data from 270 California hospitals were used to estimate a stochastic frontier model of hospital cost efficiency that explicitly takes into account outpatient heterogeneity. The findings indicate that hospital FCF is significantly linked to firm efficiency/inefficiency. The results indicate that higher positive cash flows are related to lower cost inefficiency, but higher negative cash flows are related to higher cost inefficiency. Thus, cash flows not only impact the ability of hospitals to meet current liabilities, they are also related to the ability of the hospitals to use resources effectively.

  7. The study of relationship between free cash flows and earnings management in companies listed in Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Mehdi Darvish Narenjbon

    2016-09-01

    Full Text Available The study aimed to the study of relationship between free cash flows and earnings management in companies listed in Tehran Stock Exchange. Free cash flows as an independent variable and earnings management, as a dependent variable. The statistical population consists of companies listed in Tehran Stock Exchange during the years 2010 till 2012, which based on the systematic removal method, 67 companies were sampled. In this study, to measure earnings management, Jones’ the modified model was used and to determine free cash flow, Len and Pelson’s model. In the present study, it was conducted to investigate first descriptive statistic of the research variables and then test variance heterogeneity and test F-Limaer; and finally carry with regression test to confirm or reject any of the research hypotheses. There is a significant relationship between free cash flows and earnings management.

  8. A CRITICAL STUDY REGARDING THE ELABORATION OF THE CASH FLOW STATEMENT USING THE DIRECT METHOD IN ROMANIA

    National Research Council Canada - National Science Library

    ŢĂRAN MOROŞAN ADRIAN

    2013-01-01

    .... Although IAS 7 recommends the usage of thedirect method to prepare the cash flow statement in order to better satisfy the informational need of information users,many enterprises choose to apply...

  9. Cash Flows versus Accounting Earnings in Managing Exchange Rate Exposures: An Empirical Study of Non-Financial Companies

    DEFF Research Database (Denmark)

    Aabo, Tom

    Financial theory argues that companies should manage cash flows and not accounting earnings when they hedge exchange rate exposures. Still, empirical evidence shows that a number of companies choose to manage accounting earnings. This empirical study of Danish, non-financial companies finds (1...... for profitability) in company characteristics between the group of companies that manage cash flows versus the group of companies that manage accounting earnings as a first priority. The decision in real business on whether to manage cash flows or accounting earnings when hedging exchange rate exposures seems......) that when hedging the majority of companies expect to add value to their company by avoiding financial distress (reduce down side risk), (2) that when hedging managing cash flows versus managing accounting earnings as a first priority splits the companies in two, (3) a lack of difference (except...

  10. The Effect of Cash Dividend, Retained Earnings, and Stock Price of Manufacturing Company Listed In Indonesia Stock Exchange

    National Research Council Canada - National Science Library

    Farah Margaretha

    2015-01-01

    This study aims to determine the effect of cash dividends per share, retained earnings per share, earnings per share, and leverage on the stock price of manufacture industry in Indonesia from 2008-2012...

  11. SOFTWARE SOLUTIONS FOR MEASURING AND FORECASTING THE CASH GENERATING UNIT FLOWS RELATED TO INTANGIBLE ASSETS

    Directory of Open Access Journals (Sweden)

    Veronica R GROSU

    2016-08-01

    Full Text Available In light of the difficulties encountered in assessing the value of the CGU (Cash Generating Unit and of the cash flows associated with goodwill or other intangible assets of a company and after performing the impairment test as provided by the IAS 36-Intangibile Asset and the forecasts related to it, the aim of this paper is to identify and suggest software instruments that would assist in the measurement and forecasting of these elements. The employment of the SPSS and the NeuroShell programmes in analyzing and forecasting the changes in CGU and CGU flows has helped compare the results and the ensuing error margins, thus giving the business entity the possibility to select the best software option, depending on certain variables identified on a micro or a macroeconomic level that may affect the depreciation or the increases in value of the underlying assets for CGU or CGU flows.

  12. Conditional cash transfers and social welfare. A look into two Latin American case studies

    Directory of Open Access Journals (Sweden)

    Alexia Delclaux Gaytán de Ayala

    2015-12-01

    Full Text Available This paper analyses the role of conditional cash transfers (CCT in improving social indicators during the past decade in Brazil and Peru. Barely two decades after the appearance of the first programmes, CCTs – cash transfers to families living in poverty or extreme poverty conditioned to school attendance and compulsory medical visits for children – are now one of the main policy tools in the fight against poverty in dozens of developing countries. More specifically, this paper examines the link between the CCT programme in each of these two countries – the giant Bolsa Familia in Brazil, the pioneer and largest program of this type in the world, and Juntos in Peru, smaller in terms of size and relevance, but practically identical in its design – and the evolution of social indicators relative to poverty, education and health.

  13. A Fair E-Cash Scheme Based on Elliptic Curve Cryptography

    Institute of Scientific and Technical Information of China (English)

    WANG Changji; WU Jianping; DUAN Haixin

    2004-01-01

    A new fair off-line electronic cash scheme on elliptic curve cryptography was presented. The new scheme is more efficient than those by extending fair off-line electronic cash scheme from finite field into elliptic curve cryptography and introducing a new elliptic curve discrete logarithm assumption. The expiry date and denomination are embedded into the blindly signed coin by integrating partially blind signature with restrictive blind signature. A bank need not use different public keys for different coin values, shops and users need not carry a list of bank's public keys to verify in their electronic wallet. At the same time, the bank just needs to keep undue electronic coins for double spending check in his database, thus bank's database can be dramatically reduced.

  14. FUNDAMENTAL ANALYSIS AND DISCOUNTED FREE CASH FLOW VALUATION OF STOCKS AT MACEDONIAN STOCK EXCHANGE

    Directory of Open Access Journals (Sweden)

    Nadica Ivanovska

    2014-06-01

    Full Text Available We examine the valuation performance of Discounted Free Cash Flow Model (DFCF at the Macedonian Stock Exchange (MSE in order to determine if this model offer significant level of accuracy and relevancy for stock values determination. We find that stock values calculated with DCF model are very close to average market prices which suggests that market prices oscillate near their fundamental values. We can conclude that DFCF models are useful tools for the companies’ enterprise values calculation on long term. The analysis of our results derived from stock valuation with DFCF model as well as comparison with average market stock prices suggest that discounted cash flow model is relatively reliable valuation tool that have to be used for stocks analyses at MSE.

  15. Income Transfers and Maternal Health: Evidence from a National Randomized Social Cash Transfer Program in Zambia.

    Science.gov (United States)

    Handa, Sudhanshu; Peterman, Amber; Seidenfeld, David; Tembo, Gelson

    2016-02-01

    There is promising recent evidence that poverty-targeted social cash transfers have potential to improve maternal health outcomes; however, questions remain surrounding design features responsible for impacts. In addition, virtually no evidence exists from the African region. This study explores the impact of Zambia's Child Grant Program on a range of maternal health utilization outcomes using a randomized design and difference-in-differences multivariate regression from data collected over 24 months from 2010 to 2012. Results indicate that while there are no measurable program impacts among the main sample, there are heterogeneous impacts on skilled attendance at birth among a sample of women residing in households having better access to maternal health services. The latter result is particularly interesting because of the overall low level of health care availability in program areas suggesting that dedicated program design or matching supply-side interventions may be necessary to leverage unconditional cash transfers in similar settings to impact maternal health.

  16. Cash income, intrahousehold cooperative conflict, and child health in central Mozambique.

    Science.gov (United States)

    Pfeiffer, James

    2003-01-01

    This study presents qualitative data on individual cash income generation and intrahousehold bargaining in a sample of 100 households in central Mozambique. It is now recognized that intrahousehold resource allocation patterns can be critical determinants of children's health in the developing world. Recently developed "bargaining-power" models suggest that individual incomes are often not pooled in households and that decisions are the result of a bargaining process that involves cooperation and conflict between men and women. Women's income, many believe, is more often spent on child welfare. Development projects should target benefits to women for greater impact on child health. Some argue that households consist of separate, gendered spheres of economic responsibility that intersect through a "conjugal contract" that defines the terms of cooperation. The findings here support the "separate-spheres" depiction of the household and reveal women's subordinated position in the external cash economy, which undermines their intrahousehold bargaining power.

  17. Information asymmetries and the value-relevance of cash flow and accounting figures: empirical analysis and implications for managerial accounting

    OpenAIRE

    Rapp, Marc Steffen

    2010-01-01

    While some of the modern performance measures used in managerial accounting rely on cash flow based figures others try to take advantage of the information content of accounting figures. However, whether the additional information content in the accrual components of earnings improves the internal performance measurement is an open empirical question. To shed light on this question, I examine the correlation between operating cash flows and earnings with firm's total shareholder returns. Usin...

  18. The availability of emergency obstetric care in the context of the JSY cash transfer programme in Madhya Pradesh, India

    OpenAIRE

    2016-01-01

    Background: Since 2005, India has implemented a national cash transfer programme, the Janani Suraksha Yojana (JSY), which provides women a cash transfer upon giving birth in an existing public facility. This has resulted in a steep rise in facility births across the country. The early years of the programme saw efforts being made to strengthen the ability of facilities to provide obstetric care. Given that the JSY has been able to draw millions of women into facilities to give birth (there ha...

  19. The Effect of Cash Dividend, Retained Earnings, and Stock Price of Manufacturing Company Listed In Indonesia Stock Exchange

    OpenAIRE

    Farah Margaretha

    2015-01-01

    This study aims to determine the effect of cash dividends per share, retained earnings per share, earnings per share, and leverage on the stock price of manufacture industry in Indonesia from 2008-2012. Research used secondary data in which the source was obtained indirectly through an intermediary medium or data processed from literatures and reports associated with this research. Independent variables in this study (x) are cash dividends per share, retained earnings per share, earnings per ...

  20. A METRIC FOR A CHIRAL POTENTIAL FIELD UNA MÉTRICA PARA UN CAMPO POTENCIAL QUIRAL

    Directory of Open Access Journals (Sweden)

    Héctor Torres-Silva

    2008-11-01

    Full Text Available In this paper we present an example of a specific metric which geometrizes explicitly a light-like four-vector potential (chiral field. The geometrization shows that such a vector has the same geometrical structure as a gravitational Kerr field. We discuss a theoretical proposition that a rotating body generates, besides a special gravitational field, a magnetic-type gauge field which might be identified with a chiral geometrized field. This chiral field represents a novel type of field because we cannot identify it with any of the known electromagnetic fields. As an application of this theory we discuss the morphology of the planets around the sun.En este trabajo se presenta un ejemplo de una métrica especifica que geometriza explícitamente un potencial cuadrivector tipo luz (campo quiral. La geometrización muestra que tal vector tiene la misma estructura geométrica que un campo gravitacional Kerr. Se discute una proposición teórica que un cuerpo rotante genera, su gravitación y el calibre de campo tipo magnético que puede ser identificado con un campo quiral geometrizado. Este campo quiral representa un tipo novedoso de campo que no puede ser identificado con alguno de los campos electromagnéticos conocidos. Como aplicación de esta teoría se discute la morfología de los planetas alrededor del sol.