FINANCING DECISION AND CORPORATE GOVERNANCE

OpenAIRE

ANDREI STANCULESCU; DAN NICOLAE IVANESCU; PETRE BREZEANU

2011-01-01

This paper sustains the existence of a biunivocal link between a company’s financing decision and the corporate governance. On the one hand, the financing decision has an impact on corporate performance, which has been confirmed. According to the agency theory, the financing decision will contribute to solving interest conflicts between shareholders and managers. On the other hand, the corporate governance mechanism provides the proper contractual framework for attracting financing resources....

Use of Online Information Resources by RMIT University Economics, Finance, and Marketing Students Participating in a Cooperative Education Program

Science.gov (United States)

Costa, Cathy

2009-01-01

This paper examines the use of online information resources by Economics, Finance, and Marketing 3rd year students in a cooperative education program and explores some possible factors and issues that influence how students use these resources. The nature of Work Integrated Learning (WIL) programs, the business information environment, and the…

The Finance Curse

DEFF Research Database (Denmark)

Christensen, John; Shaxson, Nick; Wigan, Duncan

2016-01-01

The Global Financial Crisis placed the utility of financial services in question. The crash, great recession, wealth transfers from public to private, austerity and growing inequality cast doubt on the idea that finance is a boon to the host economy. This article systematizes these doubts......, economic instability, inequality, conflict, rent-seeking and corruption. The Finance Curse produces similar effects, often for similar reasons. Beyond a point, a growing financial sector can do more harm than good. Unlike the Resource Curse, these harms transcend borders. The concept of a Finance Curse...

Financial resources for the environment: the unsuccessful attempt to create a private financing intermediary for brownfield redevelopment projects

OpenAIRE

Keith Welkes

2005-01-01

This paper analyzes an unsuccessful attempt to establish a financing intermediary for the development of environmentally contaminated property (commonly known as brownfields) in Pennsylvania. The proposed intermediary was entitled Financial Resources for the Environment.

Information,Informal finance,and SME financing

Institute of Scientific and Technical Information of China (English)

LIN Justin Yifu; SUN Xifang

2006-01-01

Informal finance exists extensively and has been playing an important role in small-and medium-sized enterprise (SME) financing in developing economies,This paper tries to rationalize the extensiveness of informal finance.SME financing suffers more serious information asymmetry to the extent that most SMEs are more opaque and can only provide less collateral.Informal lenders have an advantage over formal financial institutions in collecting "soft information" about SME borrowers.This paper establishes a model including formal and informal lenders and high-and low-risk borrowers with or without sufficient collateral and shows that the credit market in which informal finance is eliminated will allocate funds in some inefficient way,and the efficiency of allocating credit funds can be improved once informal finance is allowed to coexist with formal finance.

[Dilemmas of health financing].

Science.gov (United States)

Herrera Zárate, M; González Torres, R

1989-01-01

The economic crisis had had a profound effect on the finances of health services in Mexico. The expenditure on health has decreased, both in absolute terms and in relation to the national gross product. Funding problems have been aggravated by inequities in budget distribution: social security institutions have been favored; geographical distribution of resources is concentrated in the central areas of the country and in the more developed states, and curative health care has prevailed over preventive medicine. Administrative inefficiency hinders even more the appropriate utilization of resources. Diversification of funding sources has been proposed, through external debt, local funding, and specific health taxing. But these proposals are questionable. The high cost of the debt service has reduced international credits as a source of financing. Resource concentration at the federal level, and the different compromises related to the economic solidarity pact have also diminished the potentiality of local state financing. On the other hand, a special health tax is not viable within the current fiscal framework. The alternatives are a better budget planning, a change in the institutional and regional distribution of resources, and improvement in the administrative mechanisms of funding.

Innovative M and A financing structures

International Nuclear Information System (INIS)

Korpach, A. N.; Carle, M. de la

1998-01-01

The structuring and financing of mergers and acquisitions (M and A) is one of the most critical elements of a takeover process, given that Canadian securities law requires that any takeover must be 'fully financed'. It follows therefore, that in order to comply with securities laws, the financing for a takeover must be arranged in advance of making such a bid. This paper describes the structuring of an offer, outlines the sources of M and A financing, including a review of the 'full capital solution', reviews the key forces influencing the financial structuring of takeover bids, and provides examples of recent M and A transactions in the oil and gas resources sectors. Case histories of two recent mergers and acquisitions, one involving Sun Media Corporation and Rogers Communication Inc., the other John Labatt Limited and the Onex Corporation, were reviewed in detail. The importance of proper structuring of the offer for the specific target's shareholders, as well as for future business operations was stressed

Innovative financing for health: what is truly innovative?

Science.gov (United States)

Atun, Rifat; Knaul, Felicia Marie; Akachi, Yoko; Frenk, Julio

2012-12-08

Development assistance for health has increased every year between 2000 and 2010, particularly for HIV/AIDS, tuberculosis, and malaria, to reach US$26·66 billion in 2010. The continued global economic crisis means that increased external financing from traditional donors is unlikely in the near term. Hence, new funding has to be sought from innovative financing sources to sustain the gains made in global health, to achieve the health Millennium Development Goals, and to address the emerging burden from non-communicable diseases. We use the value chain approach to conceptualise innovative financing. With this framework, we identify three integrated innovative financing mechanisms-GAVI, Global Fund, and UNITAID-that have reached a global scale. These three financing mechanisms have innovated along each step of the innovative finance value chain-namely resource mobilisation, pooling, channelling, resource allocation, and implementation-and integrated these steps to channel large amounts of funding rapidly to low-income and middle-income countries to address HIV/AIDS, malaria, tuberculosis, and vaccine-preventable diseases. However, resources mobilised from international innovative financing sources are relatively modest compared with donor assistance from traditional sources. Instead, the real innovation has been establishment of new organisational forms as integrated financing mechanisms that link elements of the financing value chain to more effectively and efficiently mobilise, pool, allocate, and channel financial resources to low-income and middle-income countries and to create incentives to improve implementation and performance of national programmes. These mechanisms provide platforms for health funding in the future, especially as efforts to grow innovative financing have faltered. The lessons learnt from these mechanisms can be used to develop and expand innovative financing from international sources to address health needs in low-income and middle

Water Infrastructure and Resiliency Finance Center

Science.gov (United States)

The Water Infrastructure and Resiliency Finance Center serves as a resource to communities to improve their wastewater, drinking water and stormwater systems, particularly through innovative financing and increased resiliency to climate change.

FINANCING OF INTERNATIONAL TRANSACTIONS

Directory of Open Access Journals (Sweden)

RADU NICOLAE BĂLUNĂ

2013-02-01

Full Text Available Financing (funding is essentially the purchase of funds necessary for a business. This can be done from internal sources (company’s own funds or external (borrowed funds. The high value of goods traded in international trade makes revenues generated from internal resources not sufficient to settle the value of the goods. Thus, it is frequent to resort to borrowed funds. In International Business Transactions, external financing is done both by classical techniques of credit (credit supplier and buyer credit and modern techniques of financing (factoring, forfeiting, leasing all trade tailored. In terms of the length of financing, accounting funding is short-term (1-12 months and long-term financing (over a year. In principle, export and import operations prevailing short-term financing techniques, while international investment and industrial cooperation actions are specific long-term funding

Clean Energy Financing Programs: A Decision Resource for States and Communities

Science.gov (United States)

Describes financing-program options, key components of financing programs, and factors for states and communities to consider as they make decisions about getting started or updating their clean energy financing programs.

Project financing

International Nuclear Information System (INIS)

Alvarez, M.U.

1990-01-01

This paper presents the basic concepts and components of the project financing of large industrial facilities. Diagrams of a simple partnership structure and a simple leveraged lease structure are included. Finally, a Hypothetical Project is described with basic issues identified for discussion purposes. The topics of the paper include non-recourse financing, principal advantages and objectives, disadvantages, project financing participants and agreements, feasibility studies, organization of the project company, principal agreements in a project financing, insurance, and an examination of a hypothetical project

THE FINANCING OF HEALTH CARE IN UKRAINE

Directory of Open Access Journals (Sweden)

Liliia Savchuk

2016-03-01

Full Text Available In the article the peculiarities of financing healthcare in Ukraine. Analyzed various sources of funding for the sector. Health expenditure per capita of the population in Ukraine and around the world have been investigated. On the basis of the analysis found that the size of budget financing are inefficient and do not meet the resource needs of the industry. Clarified the problems of resource provision of health care and the shortcomings of public Finance mechanisms. Asked to review the existing allocation mechanism of the industry and the rapid transition to a model of budgetary-insurance medicine. Keywords: realm healthcare, financing sources, government budget, expenditure, insurance medicine. JEL: H 51

Case history of MSW-to-energy financings

International Nuclear Information System (INIS)

Barrett, D.L.

1993-01-01

The development of solid waste treatment facilities is dependent upon the developer having sufficient resources to fund the development of a project and the ability of the project to be financed. The access to capital to develop, construct and operate a facility is the key component of the development process. The author is not diminishing the need for long-term waste agreements, the advantages of a superior technology or the benefit of experience. However, without capital, a project will never be initiated and the other components are immaterial. This paper reviews development financing with a case study of an environmental development company with a new technology and project financing with a comparison of four financings of Waste to Energy (WTE) facilities. Prior to reviewing the financings, the components of a project including the participants, agreements, and cash flows are discussed to establish a foundation for the later discussion. The analysis is not intended to be directly applicable to material recovery and composting facilities, however, many issues are common to all environmental facilities

A national campaign to finance supported employment.

Science.gov (United States)

Hogan, Michael F; Drake, Robert E; Goldman, Howard H

2014-06-01

Medicaid is now the main payment source and financing mechanism for services for adults with serious mental illness. Services formerly paid with state mental health funds have been converted to Medicaid, lightening the burden on state budgets affected by recession and other factors. The change has allowed states to maintain community care and inpatient services (in general hospitals). Medicaid service benefits include clinic and inpatient care, case management, and some rehabilitation services. But using Medicaid to finance some high-priority services such as supported employment has proven difficult. Now critical changes in Medicaid under the Affordable Care Act allow states to amend their Medicaid State Plans to provide more flexible services to people with serious mental illness. Advocacy and support may be needed to encourage this step. A national campaign to finance supported employment would join various stakeholders in the field, including professional organizations, family and service user groups, and organizations representing service providers. The authors of this editorial pledge their energies to support this campaign. They present suggestions for a campaign, including building a coalition, goals and targets, and online resources.

Projections of costs, financing, and additional resource requirements for low- and lower middle-income country immunization programs over the decade, 2011-2020.

Science.gov (United States)

Gandhi, Gian; Lydon, Patrick; Cornejo, Santiago; Brenzel, Logan; Wrobel, Sandra; Chang, Hugh

2013-04-18

The Decade of Vaccines Global Vaccine Action Plan has outlined a set of ambitious goals to broaden the impact and reach of immunization across the globe. A projections exercise has been undertaken to assess the costs, financing availability, and additional resource requirements to achieve these goals through the delivery of vaccines against 19 diseases across 94 low- and middle-income countries for the period 2011-2020. The exercise draws upon data from existing published and unpublished global forecasts, country immunization plans, and costing studies. A combination of an ingredients-based approach and use of approximations based on past spending has been used to generate vaccine and non-vaccine delivery costs for routine programs, as well as supplementary immunization activities (SIAs). Financing projections focused primarily on support from governments and the GAVI Alliance. Cost and financing projections are presented in constant 2010 US dollars (US$). Cumulative total costs for the decade are projected to be US$57.5 billion, with 85% for routine programs and the remaining 15% for SIAs. Delivery costs account for 54% of total cumulative costs, and vaccine costs make up the remainder. A conservative estimate of total financing for immunization programs is projected to be $34.3 billion over the decade, with country governments financing 65%. These projections imply a cumulative funding gap of $23.2 billion. About 57% of the total resources required to close the funding gap are needed just to maintain existing programs and scale up other currently available vaccines (i.e., before adding in the additional costs of vaccines still in development). Efforts to mobilize additional resources, manage program costs, and establish mutual accountability between countries and development partners will all be necessary to ensure the goals of the Decade of Vaccines are achieved. Establishing or building on existing mechanisms to more comprehensively track resources and

Is health care financing in Uganda equitable?

Science.gov (United States)

Zikusooka, C M; Kyomuhang, R; Orem, J N; Tumwine, M

2009-10-01

Health care financing provides the resources and economic incentives for operating health systems and is a key determinant of health system performance. Equitable financing is based on: financial protection, progressive financing and cross-subsidies. This paper describes Uganda's health care financing landscape and documents the key equity issues associated with the current financing mechanisms. We extensively reviewed government documents and relevant literature and conducted key informant interviews, with the aim of assessing whether Uganda's health care financing mechanisms exhibited the key principles of fair financing. Uganda's health sector remains significantly under-funded, mainly relying on private sources of financing, especially out-of-pocket spending. At 9.6 % of total government expenditure, public spending on health is far below the Abuja target of 15% that GoU committed to. Prepayments form a small proportion of funding for Uganda's health sector. There is limited cross-subsidisation and high fragmentation within and between health financing mechanisms, mainly due to high reliance on out-of-pocket payments and limited prepayment mechanisms. Without compulsory health insurance and low coverage of private health insurance, Uganda has limited pooling of resources, and hence minimal cross-subsidisation. Although tax revenue is equitable, the remaining financing mechanisms for Uganda are inequitable due to their regressive nature, their lack of financial protection and limited cross-subsidisation. Overall, Uganda's current health financing is inequitable and fragmented. The government should take explicit action to promote equitable health care financing by establishing pre-payment schemes, enhancing cross-subsidisation mechanisms and through appropriate integration of financing mechanisms.

Financial accounting as a method of household finance capacity valuation

Directory of Open Access Journals (Sweden)

A. B. Untanov

2017-01-01

Full Text Available The article presents existing household finance capacity investigations. Comparison conducting allowed to determinate collisions and flaws of previous works. That substantiates to find a new approach in household finance capacity valuation necessity. The article contains theoretical research of household finance fundamental categories. In particular, it notes significant difference between domestic and foreign experience of household finance determination. Although emphasizing key similarities allows identifying household finance capacity composition. Moreover, the article provides a public and corporate finance sectors experience, which contains a huge knowledge of finance capacity investigations. Used research allows classify finance capacity not only as a resource valuation, but also as an economic entity’s ability to generate financial result. In terms of resource valuation, the paper suggests assessing both financial resources in classical meaning and any other property, which participating household economic activity and could be evaluated. The author’s position in terms of household finance capacity valuation is suggested. A broad definition of finance capacity causes applying conceptually different approach in this paper. Thus, comparative analysis method is suggested to substantiate household and corporate firm similarities. Used method allows forming household financial accounting, which leads to clear determination of household finance capacity composition and structure. Specificity forming household financial accounting is considered. An author’s position in regards existing contradictions with early research is suggested.

Optimal capital stock and financing constraints

OpenAIRE

Saltari, Enrico; Giuseppe, Travaglini

2011-01-01

In this paper we show that financing constraints affect the optimal level of capital stock even when the financing constraint is ineffective. This happens when the firm rationally anticipates that access to external financing resources may be rationed in the future. We will show that with these expectations, the optimal investment policy is to invest less in any given period, thereby lowering the desired optimal capital stock in the long run.

7 CFR 22.306 - Financing rural development planning.

Science.gov (United States)

2010-01-01

... 7 Agriculture 1 2010-01-01 2010-01-01 false Financing rural development planning. 22.306 Section... Responsibilities of State Governments § 22.306 Financing rural development planning. States will be required to finance rural development planning through their own resources, revenue-sharing allocations, or the...

Saskatchewan resources. [including uranium

Energy Technology Data Exchange (ETDEWEB)

1979-09-01

The production of chemicals and minerals for the chemical industry in Saskatchewan are featured, with some discussion of resource taxation. The commodities mentioned include potash, fatty amines, uranium, heavy oil, sodium sulfate, chlorine, sodium hydroxide, sodium chlorate and bentonite. Following the successful outcome of the Cluff Lake inquiry, the uranium industry is booming. Some developments and production figures for Gulf Minerals, Amok, Cenex and Eldorado are mentioned.

78 FR 8587 - Thomson Reuters, Finance Operations & Technology Division, Including On-Site Leased Workers From...

Science.gov (United States)

2013-02-06

... DEPARTMENT OF LABOR Employment and Training Administration [TA-W-81,755] Thomson Reuters, Finance Operations & Technology Division, Including On-Site Leased Workers From Adecco; Eagan, MN; Amended Certification Regarding Eligibility To Apply for Worker Adjustment Assistance In accordance with Section 223 of the Trade Act of 1974, as amended (`...

Finance in the Theory of Business Cycles

OpenAIRE

Indrajit, Mallick

2008-01-01

Abstract The question of aggregate welfare over time makes business cycle studies important. Finance studies allocation of resources under uncertainty. Thus both these fields of study dwell on intertemporal resource allocation under uncertainty. This paper attempts to shed light on how finance can be integrated into business cycle theory to provide richer and deeper insights than the standard real business cycle theory. JEL Classification: E32, E44, G

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

Science.gov (United States)

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

2015-01-01

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

SMES' SECTOR ACCESS TO FINANCE: AN OVERVIEW

Directory of Open Access Journals (Sweden)

Roman Angela

2011-07-01

Full Text Available Through their contribution to the creation of added value and new jobs, the small and medium enterprises (SMEs have a significant role in the economic and social development of a country. However, these enterprises are facing numerous obstacles that limit their performance, growth and development. Among the difficulties faced by SMEs, the access to finance is often reported as a major obstacle to the deployment and expansion of their activity. The access to finance is crucial for efficient allocation of financial resources and entrepreneurial development, which explains the major interest given to this subject both by the academic literature and the policy makers. The paper aims to highlight the difficulties faced by SMEs in securing financing resources, emphasizing the differences between countries and also between SMEs and large enterprises. Knowing the difficulties in SMEs financing is essential for policy makers in order to design and implement appropriate measures, which will help to improve the access to financing for these enterprises. Thus, another issue addressed, synthetically, in this paper aims the measures taken by public authorities in order to support the access to financing for SMEs. The research methodology used in this paper starts with a literature review in order to highlight the importance of the subject addressed in our research. The analysis conducted in this paper is based on data and statistics provided mainly by the World Bank surveys, by certain empirical studies and by the National Council of Small and Medium Sized Private Enterprises in Romania. Based on the methodology used, the paper indicates the difficulties in SMEs financing and the crucial importance of enhancing the public authorities concerns regarding their alleviation, especially by adopting measures focused on increasing financial development, which would ensure greater availability of financing for businesses and thus economic growth. The limited

Creative Bus Financing.

Science.gov (United States)

Malone, Wade

1982-01-01

Alternative ways of financing school bus purchases include financing privately through contractors or commercial banks, financing through sources such as insurance companies and pension funds, leasing the buses, or contracting for transportation services. (Author/MLF)

Investigating Appropriate Financing Methods in Collaborative Projects of Water and Wastewater with AHP Approach

Directory of Open Access Journals (Sweden)

V. Vosoughi

2017-10-01

Full Text Available A mix of public and private funding is employed worldwide to enable the construction of large public projects and even, in some cases, the work of public services. In this study, the selected methods of financing of participatory projects of water and water wastes were studied and prioritized. Questionnaires and comments of experts were used along with AHP decision-making and Expert Choice software. Different financing methods include: BOT and BOO and its types, the publication of bonds, foreign direct investment, the method of buyback, internal financing, current financing, development banks, Barter transactions, new tax resources and foreign financing. Results are shown and discussed and a final ranking is provided.

Financing the energy sector in developing countries: context and overview

International Nuclear Information System (INIS)

Dunkerley, Joy.

1995-01-01

Traditional 'business as usual' financing methods will no longer be adequate to meet the unprecedented demands for capital to finance energy sector expansion in the developing countries. In recognition, many countries are opening up their power sectors to private investment, initially through the establishment of independent power projects, but in some cases through sector privatization. Project financing has many advantages, but further sectoral reorganization, including tariff reform, will be needed to attract resources on the scale required, especially from domestic investors. In oil and gas, in contrast to power, private capital from the international oil companies has always played a major role in the developing countries. However, sharply increasing investment requirements require a growing role for external finance. There should, in principle, be no shortage of investible funds to finance energy sector expansion in developing countries so long as host countries establish conditions which are attractive to private investors. The augmented role of private finance requires a continuing, if different, role for the public sector in both host countries and official aid agencies. (author)

Internet Resources for Reference: Finance and Investment.

Science.gov (United States)

Mai, Brent Alan

1997-01-01

When called upon to aid in filtering through finance and investment information on the Internet, the business librarian is also faced with knowing what is available and how to find it. Web sites are identified that provide information about stocks and their exchanges, mutual funds, bonds, company annual reports, and taxes. (Author/AEF)

System of Indicators of the Level of Costs of Financing an Economic Subject

Directory of Open Access Journals (Sweden)

Laktionova Aleksandra A.

2013-11-01

Full Text Available The article offers a system of indicators of the level of costs of financing economic subjects, in the basis of which there is a function of formation of recommendations or identification of directions and priorities in the part of selection of one or another source of financing, its urgency and specific features of attraction of resources, on the basis of information on the level of agent’s costs, information asymmetry costs, financial instability, transaction and market indicators of cost of financial resources. The article pays a special attention to a significant structure forming factor of the ownership structure, which identifies the volume and logic of interconnection of all costs of financing and determining incentives and risks in the system of management of financial activity of an economic subject from the point of view of all participants. It exerts especially big influence upon formation of such implicit costs of financing as agent’s costs and information asymmetry costs. The system of factors of stimulants and de-stimulants of costs of financing includes factors of external environment (macro-economic and market indicators of cost and institutional provision and internal environment (ownership structure, characteristic of investment activity and financing an economic subject, organisation of business and corporate management.

Financing low carbon energy access in Africa

International Nuclear Information System (INIS)

Gujba, Haruna; Thorne, Steve; Mulugetta, Yacob; Rai, Kavita; Sokona, Youba

2012-01-01

Modern energy access in Africa is critical to meeting a wide range of developmental challenges including poverty reduction and the Millennium Development Goals (MDGs). Despite having a huge amount and variety of energy resources, modern energy access in the continent is abysmal, especially Sub-Saharan Africa. Only about 31% of the Sub-Saharan African population have access to electricity while traditional biomass energy accounts for over 80% of energy consumption in many Sub-Saharan African countries. With energy use per capita among the lowest in the world, there is no doubt that Africa will need to increase its energy consumption to drive economic growth and human development. Africa also faces a severe threat from global climate change with vulnerabilities in several key areas or sectors in the continent including agriculture, water supply, energy, etc. Low carbon development provides opportunities for African countries to improve and expand access to modern energy services while also building low-emission and climate-resilient economies. However, access to finance from different sources will be critical in achieving these objectives. This paper sets out to explore the financial instruments available for low carbon energy access in Africa including the opportunities, markets and risks in low carbon energy investments in the continent. - Highlights: ► Access to finance will be critical to achieving low carbon energy access in Africa. ► Domestic finance will be important in leveraging private finance. ► Private sector participation in modern and clean energy in Africa is still low. ► Many financing mechanisms exist for low carbon energy access in Africa. ► The right institutional frameworks are critical to achieving low carbon energy access in Africa.

Optimization of finances into regional energy

Directory of Open Access Journals (Sweden)

Alexey Yuryevich Domnikov

2014-06-01

Full Text Available The development of modern Russian energy collides with the need for major investments in the modernization and renewal of generation and transmission capacity. In terms of attracting sufficient financial resources and find ways to increase, energy sector profitability and investment attractiveness of particular importance is the problem of investment financing optimizing aimed at minimizing the cost of financing while maintaining financial stability of the power companies and the goals and objectives of Russian energy system long-term development. The article discusses the problem of investment projects financing in power generation from the point of view of the need to achieve optimal investment budget. Presents the author’s approach to the investment financing optimization of power generation company that will achieve the minimum cost of resources involved, taking into account the impact of the funding structure for the power generating company financial sustainability. The developed model is applied to the problem of investment budget optimizing, for example, regional power generating company. The results can improve the efficiency of investment in energy, sustainable and competitive development of regional energy systems.

Finance structure and public enlightenment program of the first Turkish nuclear power plant project (a case study)

International Nuclear Information System (INIS)

Lutfi Sarici, E.

2000-01-01

This paper deals with four closely related subjects. These are: the positioning of nuclear energy in Turkey's energy planning by presenting supply and demand figures of electricity, giving emphasis to resource availability, pointing out the necessity of diversification of resources; the ongoing situation for realization of the Akkuyu Project with its updated milestones, alternative offers requested for the Akkuyu Nuclear Power Plant and member companies of the consortiums who already have submitted the three bids; the financing of big-scale energy investment projects in developing countries by giving special emphasis to the Akkuyu Nuclear Power Plant Project including the financing requirements in the Bid Specifications, OECD rules for financing, the requirements of financial agents, and financing means of domestic participation; public enlightenment during establishment of nuclear power in Turkey. (author)

Privatization Financing Alternatives: Blending Private Capital and Public Resources for a Successful Project

Energy Technology Data Exchange (ETDEWEB)

BT Oakley; JH Holbrook; L Scully; MR Weimar; PK Kearns; R DiPrinzio

1998-10-19

The U.S. Department of Energy (DOE) launched the Contract Reform Initiative in 1994 in order to improve the effectiveness and effkiency of managing major projects and programs. The intent of this initiative is to help DOE harness both technical and market forces to reduce the overall cost of accomplishing DOE's program goals. The new approach transfers greater risk to private contractors in order to develop incentives that align contractor performance with DOE's objectives. In some cases, this goal can be achieved through public-private partnerships wherein the govermhent and the contractor share risks associated with a project in a way that optimizes its economics. Generally, this requires that project risks are allocated to the party best equipped to manage and/or underwrite them. While the merits of privatization are well documented, the question of how privatized services should be financed is often debated. Given the cost of private sector equity and debt, it is difficult to ignore the lure of the government's "risk free" cost of capital. However, the source of financing for a project is an integral part of its overall risk allocation, and therefore, participation by the government as a financing source could alter the allocation of risks in the project, diminishing the incentive structure. Since the government's participation in the project's financing often can be a requirement for financial feasibility, the dilemma of structuring a role for the government without undermining the success of the project is a common and difficult challenge faced by policymakers around the world. However, before reverting to a traditional procurement approach where the government enters into a cost-plus risk profile, the government should exhaust all options that keep the private entity at risk for important aspects of the project. Government participation in a project can include a broad range of options and can be applied with precision to bridge a

The rates and financing of electric sector expansion

International Nuclear Information System (INIS)

Chiganer, L.; Coutinho, L.H.S.A.; Dias, L.E.N.; Silva Pegado, P.A. da; Foletto, N.S.; Guerreiro, A.G.

1993-01-01

The current economic and political crisis of Brazilian society reach the several productive sectors that compose the national economy, and among them the electric sector. An adequate rate policy, new ways of getting resources to its financing, costs reduction, and the increase of internal generation of resources, are the objective of this work, that evaluates and evidences these questions in order to their repercussion in financing of electric sector expansion. (C.M.)

SOURCES OF FINANCING INDUSTRIAL COMPLEX ENTERPRISES

Directory of Open Access Journals (Sweden)

Anzhela Zakhitovna Namitulina

2016-01-01

conditions. Currently, only a low percentage of civilian goods produced at the enterprises of the military-industrial complex (MIC, is exported. This preserves the low investment activity in the sectors of the military-industrial complex, which is the most high-tech part of the industry. In modern conditions in the Russian Federation military-industrial complex includes industrial companies and research organizations involved in defense research and creation of weapons and military equipment, governments and federal bodies of executive power. Under these circumstances, current CMO exit from the crisis is a problem of formation of an investment to ensure its development system. Objectives. The aim of the article is to study sources of financing and investment enterprises of the military-industrial complex, study and analysis of the financing of investment sphere of defense industry enterprises; Development of the best ways of functioning of the integrated companies with a view to achieving high economic efficiency in the military and economic cooperation on the basis of military technology, defense industry places on its analysis of the global market. Methods. The methodological basis of this article are the economic and statistical analysis methods, regulatory documents in the fi eld of economic security, publications in the fi eld of economic and financial security, public analyzes in the fi eld of development of military-industrial complex. Results. To improve the financial and investment attractiveness of the enterprises of the military-industrial complex need to improve conditions for attracting investments in the defense sector and expand the powers of enterprise credit and financial sector to actively participate in their financing processes of new projects of defense enterprises. State financing of Russian investment sector is characterized by the following features: the source of the reproduction process started only natural resources, many of which are irreplaceable

Financing renewables - wind energy

International Nuclear Information System (INIS)

Armstrong, J.

1998-01-01

This paper describes the status of the wind energy markets world-wide, in Europe and in the UK. It outlines the main methods of financing wind energy installations and discusses why different institutional structures have led to different markets in the UK and in Germany, with some concern about the state of the UK onshore industry. The paper looks ahead to the opening up of the potentially much larger offshore wind resource, concluding that in this area, existing UK development and financing structures are well suited. (Author)

Energy Efficiency Financing for Low- and Moderate-Income Households: Current State of the Market, Issues, and Opportunities

Energy Technology Data Exchange (ETDEWEB)

Leventis, G; Kramer, C; Schwartz, LC

2017-08-09

Ensuring that low- and moderate-income (LMI) households have access to energy efficiency is equitable, provides energy savings as a resource to meet energy needs, and can support multiple policy goals, such as affordable energy, job creation, and improved public health. Although the need is great, many LMI households may not be able to afford efficiency improvements or may be inhibited from adopting efficiency for other reasons. Decision-makers across the country are currently exploring the challenges and potential solutions to ramping up adoption of efficiency in LMI households, including the use of financing. The report’s objective is to offer state and local policymakers, state utility regulators, program administrators, financial institutions, consumer advocates and other LMI stakeholders with an understanding of: -The relationship between LMI communities and financing for energy efficiency, including important considerations for its use such as consumer protections -The larger programmatic context of grant-based assistance and other related resources supporting LMI household energy efficiency -Lessons learned from existing energy efficiency financing programs serving LMI households -Financing products used by these programs and their relative advantages and disadvantages in addressing barriers to financing or to energy efficiency uptake for LMI households

Moving toward a Coherent School Finance System

Science.gov (United States)

Rose, Heather

2013-01-01

California's current school finance system is a tangled web of funding programs, restrictions, inequities and confusion. Building a stronger finance system to benefit from resources is an important step in strengthening California's K-12 education system and better meeting the needs of its students. Gov. Brown has recently proposed the Local…

Financing Education: Why Should Tax Justice Be Part of the Solution?

Science.gov (United States)

Ron Balsera, Maria; Klees, Steven J.; Archer, David

2018-01-01

This forum seeks to problematise issues related to the lack of resources to adequately finance public education systems. It explores potential solutions based on increased domestic resource mobilisation through progressive taxation in order to meet the growing financing gap needed to achieve Sustainable Development Goal (SDG) 4. While many…

Public health services and systems research: current state of finance research.

Science.gov (United States)

Ingram, Richard C; Bernet, Patrick M; Costich, Julia F

2012-11-01

There is a growing recognition that the US public health system should strive for efficiency-that it should determine the optimal ways to utilize limited resources to improve and protect public health. The field of public health finance research is a critical part of efforts to understand the most efficient ways to use resources. This article discusses the current state of public health finance research through a review of public health finance literature, chronicles important lessons learned from public health finance research to date, discusses the challenges faced by those seeking to conduct financial research on the public health system, and discusses the role of public health finance research in relation to the broader endeavor of Public Health Services and Systems Research.

7 CFR 654.12 - Financing operations and maintenance.

Science.gov (United States)

2010-01-01

... 7 Agriculture 6 2010-01-01 2010-01-01 false Financing operations and maintenance. 654.12 Section 654.12 Agriculture Regulations of the Department of Agriculture (Continued) NATURAL RESOURCES... Financially-Assisted Projects § 654.12 Financing operations and maintenance. Sources of funds needed to...

Possible financing schemes for one-stop-shop service for sustainable renovation of single-family houses

DEFF Research Database (Denmark)

Mahapatra, Krushna; Gustavsson, Leif; Haavik, Trond

energy use behaviour of the occupants and the difficulty to predict future energy prices. The options to finance energy efficiency renovations include homeowners’ own resources, mortgage refinancing, flex loan, personal loan, financing by service providers, preferential loan, subsidies/grants, credit...... for the homeowners, and banks will have a less risky asset in their portfolio. In situations where homeowners cannot avail additional mortgage financing, e.g. those who recently purchased a house and used the limit to such loans, banks may consider an energy efficient renovation plan prepared by an entrepreneur...

Innovative Financing for Green Infrastructure

Science.gov (United States)

provides an overview of financing strategies and highlights a community that leveraged Clean Water State Revolving Fund (CWSRF) resources for a flood mitigation project that provided multiple economic, environmental, and social benefits.

African Journals Online: Finance & Management

African Journals Online (AJOL)

Items 1 - 16 of 16 ... The African Journal of Finance and Management is designed to carry articles, ... Operations, Human Resource, Organisational Behaviour, Marketing Services, ... AJMR aims to serve management and business academics.

Mental health research in Brazil: policies, infrastructure, financing and human resources

Directory of Open Access Journals (Sweden)

Mari Jair de Jesus

2006-01-01

Full Text Available The objective of this descriptive study was to map mental health research in Brazil, providing an overview of infrastructure, financing and policies mental health research. As part of the Atlas-Research Project, a WHO initiative to map mental health research in selected low and middle-income countries, this study was carried out between 1998 and 2002. Data collection strategies included evaluation of governmental documents and sites and questionnaires sent to key professionals for providing information about the Brazilian mental health research infrastructure. In the year 2002, the total budget for Health Research was US$101 million, of which US$3.4 million (3.4 was available for Mental Health Research. The main funding sources for mental health research were found to be the São Paulo State Funding Agency (Fapesp, 53.2% and the Ministry of Education (CAPES, 30.2%. The rate of doctors is 1.7 per 1,000 inhabitants, and the rate of psychiatrists is 2.7 per 100,000 inhabitants estimated 2000 census. In 2002, there were 53 postgraduate courses directed to mental health training in Brazil (43 in psychology, six in psychiatry, three in psychobiology and one in psychiatric nursing, with 1,775 students being trained in Brazil and 67 overseas. There were nine programs including psychiatry, neuropsychiatry, psychobiology and mental health, seven of them implemented in Southern states. During the five-year period, 186 students got a doctoral degree (37 per year and 637 articles were published in Institute for Scientic Information (ISI-indexed journals. The investment channeled towards postgraduate and human resource education programs, by means of grants and other forms of research support, has secured the country a modest but continuous insertion in the international knowledge production in the mental health area.

Progressive IRP Models for Power Resources Including EPP

Directory of Open Access Journals (Sweden)

Yiping Zhu

2017-01-01

Full Text Available In the view of optimizing regional power supply and demand, the paper makes effective planning scheduling of supply and demand side resources including energy efficiency power plant (EPP, to achieve the target of benefit, cost, and environmental constraints. In order to highlight the characteristics of different supply and demand resources in economic, environmental, and carbon constraints, three planning models with progressive constraints are constructed. Results of three models by the same example show that the best solutions to different models are different. The planning model including EPP has obvious advantages considering pollutant and carbon emission constraints, which confirms the advantages of low cost and emissions of EPP. The construction of progressive IRP models for power resources considering EPP has a certain reference value for guiding the planning and layout of EPP within other power resources and achieving cost and environmental objectives.

Evolution and patterns of global health financing 1995-2014

NARCIS (Netherlands)

Dieleman, Joseph; Campbell, Madeline; Chapin, Abigail; Eldrenkamp, Erika; Fan, Victoria Y.; Haakenstad, Annie; Kates, Jennifer; Liu, Yingying; Matyasz, Taylor; Micah, Angela; Reynolds, Alex; Sadat, Nafis; Schneider, Matthew T.; Sorensen, Reed; Evans, Tim; Evans, David; Kurowski, Christoph; Tandon, Ajay; Abbas, Kaja M.; Abera, Semaw Ferede; Ahmad Kiadaliri, Aliasghar; Ahmed, Kedir Yimam; Ahmed, Muktar Beshir; Alam, Khurshid; Alizadeh-Navaei, Reza; Alkerwi, A.; Amini, Erfan; Ammar, Walid; Amrock, Stephen Marc; Antonio, Carl Abelardo T.; Atey, Tesfay Mehari; Avila-Burgos, Leticia; Awasthi, Ashish; Barac, Aleksandra; Bernal, Oscar Alberto; Beyene, Addisu Shunu; Beyene, Tariku Jibat; Birungi, Charles; Bizuayehu, Habtamu Mellie; Breitborde, Nicholas J.K.; Cahuana-Hurtado, Lucero; Castro, Ruben Estanislao; Catalá-López, Ferran; Dalal, Koustuv; Dandona, Lalit; Dandona, Rakhi; Jager, De Pieter; Dharmaratne, Samath D.; Dubey, Manisha; Sa Farinha, Carla Sofia E.; Faro, Andre; Feigl, Andrea B.; Fischer, Florian; Fitchett, Joseph Robert Anderson; Foigt, Nataliya; Giref, Ababi Zergaw; Gupta, Rahul; Hamidi, Samer; Harb, Hilda L.; Hay, Simon I.; Hendrie, Delia; Horino, Masako; Jürisson, Mikk; Jakovljevic, Mihajlo B.; Javanbakht, Mehdi; John, Denny; Jonas, Jost B.; Karimi, Seyed M.; Khang, Young Ho; Khubchandani, Jagdish; Kim, Yun Jin; Kinge, Jonas M.; Krohn, Kristopher J.; Kumar, G.A.; Magdy Abd El Razek, Hassan; Magdy Abd El Razek, Mohammed; Majeed, Azeem; Malekzadeh, Reza; Masiye, Felix; Meier, Toni; Meretoja, Atte; Miller, Ted R.; Mirrakhimov, Erkin M.; Mohammed, Shafiu; Nangia, Vinay; Olgiati, Stefano; Osman, Abdalla Sidahmed; Owolabi, Mayowa O.; Patel, Tejas; Paternina Caicedo, Angel J.; Pereira, David M.; Perelman, Julian; Polinder, Suzanne; Rafay, Anwar; Rahimi-Movaghar, Vafa; Rai, Rajesh Kumar; Ram, Usha; Ranabhat, Chhabi Lal; Roba, Hirbo Shore; Salama, Joseph; Savic, Miloje; Sepanlou, Sadaf G.; Shrime, Mark G.; Talongwa, Roberto Tchio; Ao, Te Braden J.; Tediosi, Fabrizio; Tesema, Azeb Gebresilassie; Thomson, Alan J.; Tobe-Gai, Ruoyan; Topor-Madry, Roman; Undurraga, Eduardo A.; Vasankari, Tommi; Violante, Francesco S.; Werdecker, Andrea; Wijeratne, Tissa; Xu, Gelin; Yonemoto, Naohiro; Younis, Mustafa Z.; Yu, Chuanhua; Zaidi, Zoubida; Sayed Zaki, El Maysaa; Murray, Christopher J.L.

2017-01-01

Background: An adequate amount of prepaid resources for health is important to ensure access to health services and for the pursuit of universal health coverage. Previous studies on global health financing have described the relationship between economic development and health financing. In this

Thierry Lagrange: A transparent, service-oriented approach to finance

CERN Multimedia

2009-01-01

The motto for the new Finance and Purchasing Department Head, Thierry Lagrange, is "strengthening services for users". With a head-count of around sixty, the Finance and Purchasing Department is small compared to the large technical departments. But its work is crucial and supports all the Laboratory’s activities. The FP Department manages the Organization’s financial resources and commitments, checking that resources match expenses, that sufficient cash is available, that contracts are concluded on the best possible terms - in short, that monies are available and properly managed. In these lean times, this delicate balancing act requires the skills of an insider, someone who knows the Organization like the back of his hand. Thierry Lagrange, recently appointed Head of Finance and Purchasing, has spent most of his career at CERN, and the past five years as Deputy Head of the Finance Department. Nobody knows the subtleties and p...

Task 9: deployment of photovoltaic technologies: co-operation with developing countries. Sources of financing for PV-based rural electrification in developing countries

Energy Technology Data Exchange (ETDEWEB)

Parker, W. [Institute for Sustainable Power, Highlands Ranch, CO (United States); Syngellakis, K. [IT Power Ltd, The Manor house, Chineham (United Kingdom); Shanker, A. [Innovation Energie Developpement, IED, Francheville (France)

2004-05-15

This report for the International Energy Agency (IEA) made by Task 9 of the Photovoltaic Power Systems (PVPS) programme takes a look at how PV-based rural electrification in developing countries can be financed. The objective of Task 9 is to increase the overall rate of successful deployment of PV systems in developing countries through increased co-operation and information exchange. This document provides an introduction to PV project financing, including funding sources available, strategies and planning needed to secure the necessary financial resources for the deployment of PV technologies in developing and transitional economies. Topics discussed include risk analysis and the barriers to financing, sources of financing, considerations and variables that influence financing decisions and the process for securing financing. Various forms of international and national financing are looked at, as are the factors influencing financing decisions.

Accessing international financing for climate change mitigation - A guidebook for developing countries

Energy Technology Data Exchange (ETDEWEB)

Limaye, D.R.; Zhu, X.

2012-08-15

This guidebook has been prepared by the UNEP Risoe Centre (URC) as part of its Technology Needs Assessment (TNA) project. The TNA project assists developing countries to identify national mitigation and adaptation technology priorities and to develop Technology Action Plans (TAPs) for mitigation of greenhouse gas (GHG) emissions and climate change adaptation. This guidebook provides information to help TNA countries better identify and access financial resources for the mitigation activities included in their national TAPs. This guidebook covers both mitigation 'projects' (such as a wind farm or a solar PV generation facility) and 'programmes' (such as a credit line for financing energy efficiency projects in small and medium-sized enterprises (SMEs), or bulk procurement and distribution of compact fluorescent lamps to households). The primary emphasis is on multilateral and bilateral sources of financing but the guidebook also includes an overview of private funding sources and public-private partnerships (PPPs). This guidebook only covers international financing for mitigation actions in developing countries. For example, EU funding for EU member countries and Chinese funding for mitigation in China are not covered in this guidebook. However, the EU funding for mitigation in developing countries and Chinese funding supporting mitigation in other developing countries are included. Special funds established in some developing countries by pooling financing support from developed countries are also covered in this guidebook. Information on the financing sources was compiled in a standard format and reviewed and analysed to categorise the financing sources. For the multilateral and bilateral financing sources, the available information was used to define their major characteristics (such as geographic coverage, technology/sector focus, funding sources, financing objectives, financing mechanisms, and management and governance). In addition, the

Financing pediatric surgery in low-, and middle-income countries.

Science.gov (United States)

Hsiung, Grace; Abdullah, Fizan

2016-02-01

Congenital anomalies once considered fatal, are now surgically correctable conditions that now allow children to live a normal life. Pediatric surgery, traditionally thought of as a privilege of the rich, as being too expensive and impractical, and which has previously been overlooked and excluded in resource-poor settings, is now being reexamined as a cost-effective strategy to reduce the global burden of disease-particularly in low, and middle-income countries (LMICs). However, to date, global pediatric surgical financing suffers from an alarming paucity of data. To leverage valuable resources and prioritize pediatric surgical services, timely, accurate and detailed global health spending and financing for pediatric surgical care is needed to inform policy making, strategic health-sector budgeting and resource allocation. This discussions aims to characterize and highlight the evidence gaps that currently exist in global financing and funding flow for pediatric surgical care in LMICs. Copyright © 2016. Published by Elsevier Inc.

National health financing policy in Eritrea: a survey of preliminary considerations

Directory of Open Access Journals (Sweden)

Kirigia Joses

2012-08-01

Full Text Available Abstract Background The 58th World Health Assembly and 56th WHO Regional Committee for Africa adopted resolutions urging Member States to ensure that health financing systems included a method for prepayment to foster financial risk sharing among the population and avoid catastrophic health-care expenditure. The Regional Committee asked countries to strengthen or develop comprehensive health financing policies. This paper presents the findings of a survey conducted among senior staff of selected Eritrean ministries and agencies to elicit views on some of the elements likely to be part of a national health financing policy. Methods This is a descriptive study. A questionnaire was prepared and sent to 19 senior staff (Directors in the Ministry of Health, Labour Department, Civil Service Administration, Eritrean Confederation of Workers, National Insurance Corporation of Eritrea and Ministry of Local Government. The respondents were selected by the Ministry of Health as key informants. Results The key findings were as follows: the response rate was 84.2% (16/19; 37.5% (6/16 and 18.8% said that the vision of Eritrean National Health Financing Policy (NHFP should include the phrases ‘equitable and accessible quality health services’ and ‘improve efficiency or reduce waste’ respectively; over 68% indicated that NHFP should include securing adequate funding, ensuring efficiency, ensuring equitable financial access, protection from financial catastrophe, and ensuring provider payment mechanisms create positive incentives to service providers; over 80% mentioned community participation, efficiency, transparency, country ownership, equity in access, and evidence-based decision making as core values of NHFP; over 62.5% confirmed that NHFP components should consist of stewardship (oversight, revenue collection, revenue pooling and risk management, resource allocation and purchasing of health services, health economics research, and development of

National health financing policy in Eritrea: a survey of preliminary considerations.

Science.gov (United States)

Kirigia, Joses Muthuri; Zere, Eyob; Akazili, James

2012-08-28

The 58th World Health Assembly and 56th WHO Regional Committee for Africa adopted resolutions urging Member States to ensure that health financing systems included a method for prepayment to foster financial risk sharing among the population and avoid catastrophic health-care expenditure. The Regional Committee asked countries to strengthen or develop comprehensive health financing policies. This paper presents the findings of a survey conducted among senior staff of selected Eritrean ministries and agencies to elicit views on some of the elements likely to be part of a national health financing policy. This is a descriptive study. A questionnaire was prepared and sent to 19 senior staff (Directors) in the Ministry of Health, Labour Department, Civil Service Administration, Eritrean Confederation of Workers, National Insurance Corporation of Eritrea and Ministry of Local Government. The respondents were selected by the Ministry of Health as key informants. The key findings were as follows: the response rate was 84.2% (16/19); 37.5% (6/16) and 18.8% said that the vision of Eritrean National Health Financing Policy (NHFP) should include the phrases 'equitable and accessible quality health services' and 'improve efficiency or reduce waste' respectively; over 68% indicated that NHFP should include securing adequate funding, ensuring efficiency, ensuring equitable financial access, protection from financial catastrophe, and ensuring provider payment mechanisms create positive incentives to service providers; over 80% mentioned community participation, efficiency, transparency, country ownership, equity in access, and evidence-based decision making as core values of NHFP; over 62.5% confirmed that NHFP components should consist of stewardship (oversight), revenue collection, revenue pooling and risk management, resource allocation and purchasing of health services, health economics research, and development of human resources for health; over 68.8% indicated cost

[Financing Regional Dementia Networks in Germany: Determinants of Sustainable Healthcare Networks].

Science.gov (United States)

Michalowsky, B; Wübbeler, M; Thyrian, J R; Holle, B; Gräske, J; Schäfer-Walkmann, S; Fleßa, S; Hoffmann, W

2017-12-01

Analysis of practice-based financing concepts in German dementia networks (DN); Provision of sustainable financing structures and their determinants in DN. Qualitative expert interviews with leaders of 13 DN were conducted. A semi-structured interview guide was used to analyse four main topics: Finance-related organization, cost, sources of funding and financial sustainability. DN were primarily financed by membership fees, earnings of services provided, public funds and payments by municipalities or health care providers. 63% of the DN reported a financial sustainability. Funds to support the interpersonal expanding, a mix of internal and external financing sources and investments of the municipality were determinants of a sustainable financing. Overall, DN in rural areas seemed to be disadvantaged due to a lack of potential linkable service providers. DN in urban regions are more likely able to gather sustainable funding resources. A minimum funding of 50.000 €/year for human resources coordinating the DN, seems to be a threshold for a sustainable DN. © Georg Thieme Verlag KG Stuttgart · New York.

Financing off-grid sustainable energy access for the poor

International Nuclear Information System (INIS)

Glemarec, Yannick

2012-01-01

This paper examines the role of public instruments in promoting private finance to achieve off-grid sustainable energy access. Renewable energy technologies are increasingly becoming the cheapest solutions for off-grid energy access. The dramatic uptake of mobile phones in developing countries shows how quickly decentralized services can develop on a commercial basis under the right conditions, and raises the prospect that private finance could also drive decentralized energy access for the poor. Indeed, there are already a number of instances of clean energy solutions – such as solar portable lights, household biogas units or solar home systems – that have managed to scale-up through leveraging private finance. However, the experience gained from first-generation market development projects show that, in almost all cases, significant public resources have been necessary to increase the affordability of clean energy technologies, provide access to financing for the poor, and remove non-economic barriers. Such public interventions may be funded by international public finance, domestic budgets and carbon finance. Despite mounting fiscal constraints facing governments worldwide, the emergence of new sources of climate finance and the political momentum in support of energy subsidy reforms, as well as new programming modalities, offer opportunities to leverage additional resources to achieve universal energy access by 2030. - Highlights: ► Renewable energy is increasingly the cheapest solution for off-grid energy access. ► Universal access to energy now depends less on technology and more business models. ► Substantial public finance will still be required to support universal energy access.

To finance the ecological transition: our analyses and proposals. Contribution to the public consultation on the financing of the ecological transition

International Nuclear Information System (INIS)

Azam, Genevieve; Combes, Maxime; Gadrey, Jean; Harribey, Jean-Marie

2014-01-01

The financing of ecological transition is a key issue which conditions the nature of the transition and its ecological efficiency, the acceptability of measures with respect to requirements in terms of social justice, and the sustainability of undertaken actions. This publication is an answer to a public consultation launched by the French government with the publication of a White Paper on these issues. The authors first analyse, discuss and criticise the content of the White Paper. For them, it reduces the approach to a normative one, is based on a decoupling between economic growth and use of resources, propagates a technical-scientific illusion, often indicates selective and incomplete data, and addresses the energy issue through a supply-based approach. In the next part, the authors discuss how transition financing is addressed in the White Paper. In the third part, proposals are made according to three main principles: ecological transition is a social, political, and cultural process which must be supported, financed and implemented at all territorial levels; transition can be financed only if it comes with a strict legal framework which will define what is possible and what is not any longer; financing must be conditioned to results in terms of sobriety and of ecological and social efficiency, including the creation, qualification and sustainability of jobs. A set of programmes is also presented with associated measures on energy efficiency and sobriety, on a fair use of common good, on a re-localisation of activities, and a support of international initiatives. Some proposals are also made regarding financing tools

Inflationary effects of budget deficit financing in contemporary economies

OpenAIRE

Angela Boariu; Irina Bilan

2007-01-01

This paper tries to analyse the relations existing between the different ways of financing budget deficit and inflation, underlining the terms of these relations and the involved social and economic effects. An important source of inflation is considered to be the financing of budget deficits by direct appeal to the central bank's resources, nowadays forbidden by law in most countries for its negative impact. Nevertheless, inflation can also appear as a consequence of debt financing of the bu...

Alternatives of financing for new nuclear reactors in Mexico

International Nuclear Information System (INIS)

Alonso, A.; Palacios, J.C.; Ramirez, J.R.; Longoria, L.C.; Valle, E. del

2009-01-01

Financing plays a very important role for the deployment of new nuclear reactors units in any country. Two financing alternatives can be used to support such project: the first one is that the utility provide from its own resources the capital for the investment; and the second one through international and national credits to support the nuclear project. To be a loan candidate the viability of the nuclear project must be demonstrated, it implies among other things to have a qualified national infrastructure. Also, the utility must have an international credit record in good status by the international qualifying companies. Both things are met by the Mexican Utility 'Comision Federal de Electricidad', therefore exist the possibility to build new nuclear reactors in Mexico. Here we assess both alternatives financing and own resources projects

Export development financing

International Nuclear Information System (INIS)

Balint, J.

1995-01-01

The main activities of the Export Development Corporation (EDC) were described, as well as some of the changes currently being implemented. EDC is Canada's official export credit agency, providing risk management services such as insurance, loans, guarantees, equity and leasing. EDC's project finance initiative started in 1991, and focused mainly on the up-front process. It has established itself as a recognized leader in project financing. It has over 15 years experience in a variety of sectors and countries. Energy projects financed to date include hydro projects in India, Argentina and Pakistan, and thermal projects in Thailand, China, Indonesia and Egypt. Lending criteria used to select projects were outlined, along with the risks endemic to project financing

Q&A: The Basics of California's School Finance System

Science.gov (United States)

EdSource, 2006

2006-01-01

In a state as large and complex as California, education financing can become as complicated as rocket science. This two-page Q&A provides a brief, easy-to-understand explanation of California's school finance system and introduces the issues of its adequacy and equity. A list of resources providing additional information is provided.

Exploring alternatives for financing health care in Ethiopia: An ...

African Journals Online (AJOL)

In addition, the newly adopted health care financing strategy was looked at from the perspective of policy analysis. Results: Health financing has been a major challenge for Ethiopia. The prospect of relying solely on public resources seems impractical and the absolute total expenditure on health is quite a small fraction of ...

48 CFR 12.210 - Contract financing.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Contract financing. 12.210... financing. Customary market practice for some commercial items may include buyer contract financing. The contracting officer may offer Government financing in accordance with the policies and procedures in part 32. ...

Accelerated reforms in healthcare financing: the need to scale up private sector participation in Nigeria.

Science.gov (United States)

Ejughemre, Ufuoma John

2014-01-01

The health sector, a foremost service sector in Nigeria, faces a number of challenges; primarily, the persistent under-funding of the health sector by the Nigerian government as evidence reveals low allocations to the health sector and poor health system performance which are reflected in key health indices of the country.Notwithstanding, there is evidence that the private sector could be a key player in delivering health services and impacting health outcomes, including those related to healthcare financing. This underscores the need to optimize the role of private sector in complementing the government's commitment to financing healthcare delivery and strengthening the health system in Nigeria. There are also concerns about uneven quality and affordability of private-driven health systems, which necessitates reforms aimed at regulation. Accordingly, the argument is that the benefits of leveraging the private sector in complementing the national government in healthcare financing outweigh the challenges, particularly in light of lean public resources and finite donor supports. This article, therefore, highlights the potential for the Nigerian government to scale up healthcare financing by leveraging private resources, innovations and expertise, while working to achieve the universal health coverage.

Behavioral finance: Finance with normal people

Directory of Open Access Journals (Sweden)

Meir Statman

2014-06-01

Behavioral finance substitutes normal people for the rational people in standard finance. It substitutes behavioral portfolio theory for mean-variance portfolio theory, and behavioral asset pricing model for the CAPM and other models where expected returns are determined only by risk. Behavioral finance also distinguishes rational markets from hard-to-beat markets in the discussion of efficient markets, a distinction that is often blurred in standard finance, and it examines why so many investors believe that it is easy to beat the market. Moreover, behavioral finance expands the domain of finance beyond portfolios, asset pricing, and market efficiency and is set to continue that expansion while adhering to the scientific rigor introduced by standard finance.

Using commodity-indexed financing to fund OPEC/Alaska's development projects

International Nuclear Information System (INIS)

Essayyad, Musa

1992-01-01

An impediment to the process of economic diversification in OPEC and Alaska is the lack of favourable access to local and international capital markets to finance development projects, particularly mineral resource development. This paper highlights the importance of commodity-indexed bonds, including oil- and gold- indexed bonds, as a financing alternative to supplement the supply shortage of loanable funds from conventional, local and international commercial banks. The indexation concept is discussed, features of different bonds issued to date are contrasted and the benefits and risks for borrowers and investors are highlighted. An analysis is made of the experience of OPEC and Alaska in using commodity-indexed bonds and the feasibility of Alaska and some OPEC countries entering into commodity-linked-financed joint ventures is examined. Future prospects for commodity-linked bonds are explored. Not withstanding the fact that the immediate market timing is unfavourable, the long-term benefits of commodity-indexed securities are recognized. (U.K.)

OPTIMIZATION OF FINANCING PUBLIC HIGHER EDUCATION INSTITUTIONS IN UKRAINE

Directory of Open Access Journals (Sweden)

Z. Varnaliy

2017-09-01

Full Text Available The paper considers the ways to optimize financing public higher education institutions of Ukraine. Public higher education institutions acutely feel the lack of financial resources. The study describes that it is necessary to reform the models, methods and forms of financing higher education institutions. The paper explains the impact of autonomy of higher education institutions on their development. The autonomy level of university determines the possibilities for diversification from additional sources. The results found that more autonomy of higher education institutions will allow them effectively generate and use financial resources. The review outlines the diversification of financial resources public universities. One of the key factors of the university success is to implement the diversification strategy into the overall academic strategy and mission of the higher education institution. The analysis recommends the performance-based funding system and public higher education institutions achieve certain performance indicators. The performance-based funding system will promote higher competitiveness of education institutions and improve the quality of higher education in general. The conclusions suggest the development trends of financing public higher education institutions of Ukraine.

7 CFR 1735.17 - Facilities financed.

Science.gov (United States)

2010-01-01

... Basic Policies § 1735.17 Facilities financed. (a) RUS makes hardship and guaranteed loans to finance the... section. (b) RUS makes concurrent RUS cost-of-money and RTB loans to finance the improvement, expansion... type of loan to finance the following items: (1) Station apparatus (including PBX and key systems) not...

Financing the HIV response in sub-Saharan Africa from domestic sources: Moving beyond a normative approach.

Science.gov (United States)

Remme, Michelle; Siapka, Mariana; Sterck, Olivier; Ncube, Mthuli; Watts, Charlotte; Vassall, Anna

2016-11-01

Despite optimism about the end of AIDS, the HIV response requires sustained financing into the future. Given flat-lining international aid, countries' willingness and ability to shoulder this responsibility will be central to access to HIV care. This paper examines the potential to expand public HIV financing, and the extent to which governments have been utilising these options. We develop and compare a normative and empirical approach. First, with data from the 14 most HIV-affected countries in sub-Saharan Africa, we estimate the potential increase in public HIV financing from economic growth, increased general revenue generation, greater health and HIV prioritisation, as well as from more unconventional and innovative sources, including borrowing, health-earmarked resources, efficiency gains, and complementary non-HIV investments. We then adopt a novel empirical approach to explore which options are most likely to translate into tangible public financing, based on cross-sectional econometric analyses of 92 low and middle-income country governments' most recent HIV expenditure between 2008 and 2012. If all fiscal sources were simultaneously leveraged in the next five years, public HIV spending in these 14 countries could increase from US$3.04 to US$10.84 billion per year. This could cover resource requirements in South Africa, Botswana, Namibia, Kenya, Nigeria, Ethiopia, and Swaziland, but not even half the requirements in the remaining countries. Our empirical results suggest that, in reality, even less fiscal space could be created (a reduction by over half) and only from more conventional sources. International financing may also crowd in public financing. Most HIV-affected lower-income countries in sub-Saharan Africa will not be able to generate sufficient public resources for HIV in the medium-term, even if they take very bold measures. Considerable international financing will be required for years to come. HIV funders will need to engage with broader

Innovations in Wind and Solar PV Financing

Energy Technology Data Exchange (ETDEWEB)

Cory, K.; Coughlin, J.; Jenkin, T.; Pater, J.; Swezey, B.

2008-02-01

There is growing national interest in renewable energy development based on the economic, environmental, and security benefits that these resources provide. Historically, greater development of our domestic renewable energy resources has faced a number of hurdles, primarily related to cost, regulation, and financing. With the recent sustained increase in the costs and associated volatility of fossil fuels, the economics of renewable energy technologies have become increasingly attractive to investors, both large and small. As a result, new entrants are investing in renewable energy and new business models are emerging. This study surveys some of the current issues related to wind and solar photovoltaic (PV) energy project financing in the electric power industry, and identifies both barriers to and opportunities for increased investment.

Evidences on weaknesses and strengths from health financing after decentralization: lessons from Latin American countries.

Science.gov (United States)

Arredondo, Armando; Orozco, Emanuel; De Icaza, Esteban

2005-01-01

The main objective was to identify trends and evidence on health financing after health care decentralization. Evaluative research with a before-after design integrating qualitative and quantitative analysis. Taking into account feasibility, political and technical criteria, three Latin American countries were selected as study populations: Mexico, Nicaragua and Peru. The methodology had two main phases. In the first phase, the study referred to secondary sources of data and documents to obtain information about the following variables: type of decentralization implemented, source of finance, funds of financing, providers, final use of resources and mechanisms for resource allocation. In the second phase, the study referred to primary data collected in a survey of key personnel from the health sectors of each country. The trends and evidence reported in all five financing indicators may identify major weaknesses and strengths in health financing. Weaknesses: a lack of human resources trained in health economics who can implement changes, a lack of financial resource independence between the local and central levels, the negative behavior of the main macro-economic variables, and the difficulty in developing new financing alternatives. Strengths: the sharing between the central level and local levels of responsibility for financing health services, the implementation of new organizational structures for the follow-up of financial changes at the local level, the development and implementation of new financial allocation mechanisms taking as a basis the efficiency and equity principles, new technique of a per-capita adjustment factor corrected at the local health needs, and the increase of financing contributions from households and local levels of government.

Financing of Romanian Non-governmental Organizations

Directory of Open Access Journals (Sweden)

Sebastian Ion CEPTUREANU

2017-06-01

Full Text Available Non-governmental organizations (NGOs have become increasingly important in the last decade for the Romanian society. They raise public awareness for human rights, promote development of democracy and seek to improve the well-being of communities by being increasingly engaging in various development, educational, social or health projects. Unfortunately, many NGOs has to cope with significant financing problems since competition for resources amplified and some of the traditional donors cut or reduced support. This paper analyze financing issues in NGOs, based on a quantitative analysis, using a structured questionnaire. Since it is one of the very few studies covering Romania, the scope of the paper was to provide for those involved or interested in NGO sector new data concerning, for instance, sources of revenue or destination of resources, enabling NGOs executives to build financial sustainable organizations.

Financing medical office buildings.

Science.gov (United States)

Blake, J W

1995-01-01

This article discusses financing medical office buildings. In particular, financing and ownership options from a not-for-profit health care system perspective are reviewed, including use of tax-exempt debt, taxable debt, limited partnerships, sale, and real estate investment trusts (REITs).

Financing Educational Imperatives. A Report.

Science.gov (United States)

Canadian Teachers' Federation, Ottawa (Ontario).

This document reports the proceedings of a conference held to discuss the availability of educational resources and the financing of education in Canada. The conference focused specifically on the financial implications of redesigning educational institutions to be capable of flexible response to students' needs, making educational benefits more…

Financing nuclear power in the U.K

International Nuclear Information System (INIS)

Bonner, F.E.

1979-01-01

In the United Kingdom the Central Electricity Generating Board (CEGB) are responsible for bulk supplies of electricity to the 12 Area Boards responsible for retailing in England and Wales. As such, the Board are responsible for over 90% of total generation in the UK and are therefore the body principally concerned with the financing of nuclear power growth. The author first looks at the problem of financing nuclear power from the point of view of the CEGB. Thereafter the situation in the UK is dealt with more generally and in that section reference is also made to the total call on the UK's resources involved in financing energy growth in general and nuclear power in particular. (author)

Possible Ways and Means for an Enhanced Partnership between the Finance Resources Owners and their Local Beneficiaries in Romania

Directory of Open Access Journals (Sweden)

Laurentiu Mihai TREAPĂT

2014-12-01

Full Text Available In this work, we present some reasons why the financial institutions and the entities active in the Romanian economy have to strengthen their institutional partnership, for the benefit of the entire community. We also analyze the economic factors that interfere into this partnership, and also the possible ways and means of optimization. The study and, particularly the proposed solutions may represent a viable option for an efficient management of the development process of the local communities in Romania. We bring scientific and practical arguments that there is a big need for this partnership, as currently, we are experiencing a big lack of mutual trust that is perceived as a gap in the cooperation between the owners of financial resources, on one hand, and the entrepreneurs and the public authorities, on the other hand. Looking from a European perspective and also from the historical evolution, in Romanian’s case, local economic development is a challenge that must be achieved by valuing any available resource at its best. Local resources are not always enough for financing the development needs of the communities. For progressing, they must be completed with borrowed sources. The banking loan, although it includes collateral costs and risks, represents a resource that must be used accordingly, for not losing the development opportunities. The capital insertion on the local market by banking loan generates an economic increase, social development, and can offer new working places to the local community members. Good knowledge of the lending needs, of the advantages, of the costs but also of the associated risks of the lending activity is essential for fully benefiting of such a resource in the local and regional economic and social development process, for the benefit of all the involved parties.

Location constrained resource interconnection

International Nuclear Information System (INIS)

Hawkins, D.

2008-01-01

This presentation discussed issues related to wind integration from the perspective of the California Independent System Operator (ISO). Issues related to transmission, reliability, and forecasting were reviewed. Renewable energy sources currently used by the ISO were listed, and details of a new transmission financing plan designed to address the location constraints of renewable energy sources and provide for new transmission infrastructure was presented. The financing mechanism will be financed by participating transmission owners through revenue requirements. New transmission interconnections will include network facilities and generator tie-lines. Tariff revisions have also been implemented to recover the costs of new facilities and generators. The new transmission project will permit wholesale transmission access to areas where there are significant energy resources that are not transportable. A rate impact cap of 15 per cent will be imposed on transmission owners to mitigate short-term costs to ratepayers. The presentation also outlined energy resource area designation plans, renewable energy forecasts, and new wind technologies. Ramping issues were also discussed. It was concluded that the ISO expects to ensure that 20 per cent of its energy will be derived from renewable energy sources. tabs., figs

Geothermal Small Business Workbook [Geothermal Outreach and Project Financing

Energy Technology Data Exchange (ETDEWEB)

Elizabeth Battocletti

2003-05-01

Small businesses are the cornerstone of the American economy. Over 22 million small businesses account for approximately 99% of employers, employ about half of the private sector workforce, and are responsible for about two-thirds of net new jobs. Many small businesses fared better than the Fortune 500 in 2001. Non-farm proprietors income rose 2.4% in 2001 while corporate profits declined 7.2%. Yet not all is rosy for small businesses, particularly new ones. One-third close within two years of opening. From 1989 to 1992, almost half closed within four years; only 39.5% were still open after six years. Why do some new businesses thrive and some fail? What helps a new business succeed? Industry knowledge, business and financial planning, and good management. Small geothermal businesses are no different. Low- and medium-temperature geothermal resources exist throughout the western United States, the majority not yet tapped. A recent survey of ten western states identified more than 9,000 thermal wells and springs, over 900 low- to moderate-temperature geothermal resource areas, and hundreds of direct-use sites. Many opportunities exist for geothermal entrepreneurs to develop many of these sites into thriving small businesses. The ''Geothermal Small Business Workbook'' (''Workbook'') was written to give geothermal entrepreneurs, small businesses, and developers the tools they need to understand geothermal applications--both direct use and small-scale power generation--and to write a business and financing plan. The Workbook will: Provide background, market, and regulatory data for direct use and small-scale (< 1 megawatt) power generation geothermal projects; Refer you to several sources of useful information including owners of existing geothermal businesses, trade associations, and other organizations; Break down the complicated and sometimes tedious process of writing a business plan into five easy steps; Lead you

The International Finance Corporation and financing of sustainable energy

Energy Technology Data Exchange (ETDEWEB)

NONE

1997-12-01

The International Finance Corporation (IFC), a member of the World Bank Group, is the largest multilateral source of loan and equity financing for private sector projects in the developing world. IFC participates in an investment only when it can make a special contribution that complements the role of market operators. Since its founding 40 years ago, IFC has provided more than $18.8 billion in financing for 1,706 companies in developing countries. Its share capital is provided by its 170 member countries, which collectively determine its policies and activities. Strong shareholder support and a substantial paid-in capital base have allowed IFC to raise funds for its lending activities through its triple-A rated bond issues in international financial markets. IFC created an Infrastructure Department in 1992 in response to the growing demand for its services in this area. During fiscal 1996 IFC approved 33 projects for new investments of $715 million of which 27% were in the power sector. In recognition of the continuing demand growth for private power investments an expanded Power Department has been formed to handle IFC`s investments in electric power generation projects using renewable resources such as: run-of-the-river hydro, geothermal, biomass cogeneration, wind energy, and solar (photovoltaic, solar thermal, etc.), as well as conventional thermal generation projects, transmission and distribution projects, and energy efficiency investments.

The EPSA Project Finance Mapping Tool

Energy Technology Data Exchange (ETDEWEB)

Hadley, Stanton W. [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Chinthavali, Supriya [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)

2016-07-01

The Energy Policy and Systems Analysis Office of DOE has requested a tool to compare the impact of various Federal policies on the financial viability of generation resources across the country. Policy options could include production tax credits, investment tax credits, solar renewable energy credits, tax abatement, accelerated depreciation, tax-free loans, and others. The tool would model the finances of projects in all fifty states, and possibly other geographic units like utility service territories and RTO/ISO territories. The tool would consider the facility s cost, financing, production, and revenues under different capital and market structures to determine things like levelized cost of energy, return on equity, and cost impacts on others (e.g., load-serving entities, society.) The tool would compare the cost and value of the facility to the local regional alternatives to determine how and where policy levers may provide sufficient incremental value to motivate investment. The results will be displayed through a purpose-built visualization that maps geographic variations and shows associated figures and tables.

[Evolution and new perspectives of health care financing in developing countries].

Science.gov (United States)

Audibert, Martine; Mathonnat, Jacky; de Roodenbeke, Eric

2003-01-01

Over the last twenty five years, the perspective of health care financing has dramatically changed in developing countries. In this context, it is worth reviewing the literature and the experiences in order to understand the major shifts on this topic. During the sixties, health care policies focused on fighting major epidemics. Programs were dedicated to reduce the threat to population health. Financing related to the mobilization of resources for these programs and most of them were not managed within national administrations. The success of these policies was not sustainable. After Alma Ata, primary health care became a priority but it took some years before the management of the health care district was introduced as a major topic. In the eighties, with the district policy and the Bamako Initiative, the economic approach became a major part of all health care policies. At that time, most of health care financing was related to cost recovery strategies. All the attention was then drawn on how it worked: Fee policies, distribution of revenues, efficient use of resources and so on. In the second half of the nineties, cost recovery was relegated to the back scene, health care financing policy then becoming a major front scene matter. Two major reasons may explain this change in perspective: HIV which causes a major burden on the whole health system, and fighting poverty in relation with debts reduction. In most developing countries, with high HIV prevalence, access to care is no longer possible within the framework of the ongoing heath care financing scheme. Health plays a major role in poverty reduction strategies but health care officials must take into account every aspect of public financing. New facts also have to be taken into account: Decentralization/autonomy policies, the growing role of third party payment and the rising number of qualified health care professionals. All these facts, along with a broader emphasis given to the market, introduce a need for

AUDITING INTERNAL CONTROLS IN FINANCING PRESCHOOL PUBLIC INSTITUTION: EVIDENCE FROM SLOVENIA

Directory of Open Access Journals (Sweden)

Tatjana HORVAT

2017-12-01

Full Text Available Public preschool educational institutions in Slovenia are mostly financed by public money, it means bay state and municipalities. They are also financed by parents. So, it is important that preschool institutions are using public money transparent and responsible, for this reason public preschool institution should have internal controls in financing. The internal auditor as independent professional should verify if internal controls works. The purpose of this paper is to investigate how internal controls in financing public educational institution works it means which internal controls are important in financing the preschool institution - on the selected institution to show and check how internal controls work. For this reason we divide internal controls in the financing in two phases: (1 internal controls in the preparation of the annual financial plan and financial planning of financial resources for institution’s programs and activities, (2 internal controls in obtaining financial resources. We used methods of internal auditing and research approaches as sampling, unstructured interviews and analysis of documents. The results showed that selected preschool institution should work on rules of recovery and monitoring of claims. The findings provide useful academic insight to setting internal controls as well as practical guidance for preschool institutions.

Project finance risks - getting it right first time

International Nuclear Information System (INIS)

Bain, F.

1996-01-01

Bankers seeking to invest in the construction of new power stations by independent power producers, face greater risks than those lending to companies. Independent risk and insurance advisers are used to assess project risk. ''Project finance'' has become increasingly popular as it allows projects to go ahead that could not be supported from sponsors' own resources. In addition, project finance means that various equity partners can join together in a joint venture company and limit their individual risk. Project finance can be delayed by differences between the needs of sponsors, financiers and insurers. The process can be speeded up by foreknowledge of bankers' requirements. (UK)

Theory and Evidence on the Finance-Growth Relationship: The Virtuous and Unvirtuous Cycles

OpenAIRE

Lauretta, Eliana; Chaudhry, Sajid; Mullineux, Andy

2015-01-01

Since the 1980s, financial crises have tended to reoccur with increasing frequency and growing intensity. They are endogenously generated by the established OTD (Originate-To-Distribute) model within the new finance-growth paradigm. Good finance fosters the correct allocation of financial resources, the fair redistribution of wealth and positive economic growth (the virtuous cycle), whereas bad finance captures part of the created wealth and, thanks to a highly technologically advanced financ...

Obligations of low income countries in ensuring equity in global health financing.

Science.gov (United States)

Barugahare, John; Lie, Reidar K

2015-09-08

Despite common recognition of joint responsibility for global health by all countries particularly to ensure justice in global health, current discussions of countries' obligations for global health largely ignore obligations of developing countries. This is especially the case with regards to obligations relating to health financing. Bearing in mind that it is not possible to achieve justice in global health without achieving equity in health financing at both domestic and global levels, our aim is to show how fulfilling the obligation we propose will make it easy to achieve equity in health financing at both domestic and international levels. Achieving equity in global health financing is a crucial step towards achieving justice in global health. Our general view is that current discussions on global health equity largely ignore obligations of Low Income Country (LIC) governments and we recommend that these obligations should be mainstreamed in current discussions. While we recognise that various obligations need to be fulfilled in order to ultimately achieve justice in global health, for lack of space we prioritise obligations for health financing. Basing on the evidence that in most LICs health is not given priority in annual budget allocations, we propose that LIC governments should bear an obligation to allocate a certain minimum percent of their annual domestic budget resources to health, while they await external resources to supplement domestic ones. We recommend and demonstrate a mechanism for coordinating this obligation so that if the resulting obligations are fulfilled by both LIC and HIC governments it will be easy to achieve equity in global health financing. Although achieving justice in global health will depend on fulfillment of different categories of obligations, ensuring inter- and intra-country equity in health financing is pivotal. This can be achieved by requiring all LIC governments to allocate a certain optimal per cent of their domestic

Mechanism Research on Standardized Development of Rural Private Finance

Institute of Scientific and Technical Information of China (English)

2010-01-01

In generalizing the researching conditions of researchers on private finance,the paper introduces the connoted meaning of rural private finance broadly and narrowly.The paper states the forms of rural private finance(including private loaning,private bank,rural private collecting,financing organizations,cooperatives,NGO,small loaning organizations and so on),the relations between rural private finance and rural economic relations,pointing out that it is the combination of the strong and the weak,which may generate benefits with the operation of marketing mechanisms.The paper analyzes the historical causes,supervision causes and cultural causes of rural private finance,discussing mechanisms of standardized development of rural private finance:firstly,standardize the organization management mechanisms,including scaled controlling mechanisms and bank management mechanisms;secondly,complete finance supervision mechanisms;thirdly,moderate government intervention,including affording liberal policy environment and reducing the improper intervention;fourthly,upgrading qualities mechanisms,including cultivating the rural credit culture and improving the quality of regulatory personnel.

Islamic Finance and Economic Development Lessons from the past prospects for the future

OpenAIRE

Syed Ali, Salman

2014-01-01

The Study starts by asking some fundamental qustions as to what role Islamic finance can play in socio-economic development, how similar or different it is from the conventional finance, and how its effectiveness can further be enhanced. The study analyzes the channels of impact of Islamic finance on real economic activities and, using Islamic finance in various sub-sectors of the economy. The study also covers aspects of resource mobilization and sound development of Islamic financial sector...

How to finance energy transition? Elements of analysis for a strategic approach

International Nuclear Information System (INIS)

Ruedinger, Andreas

2015-01-01

If regulatory and economic signals are the first determining factors for the launching of energy transition projects, financing tools are a major stake. But financing these projects is also facing two complementary challenges: the mobilisation of additional capital resources to face the needs, and the re-orientation of a part of this financing towards more efficient projects. In order to asses the consistency of financing tools, this study identifies three determining financing stakes: an inter-mediation with capital markets to mobilise capitals at low cost, a calibration of project financing mechanisms to meet the needs of the different actors and sectors and to limit transaction costs, and a better articulation between financial tools and regulatory tools. The authors thus propose an integrated approach to the stakes of transition financing

Financing Preference Behaviour for Private Finance Initiative (PFI Projects

Directory of Open Access Journals (Sweden)

Yati Md Lasa

2016-01-01

Full Text Available Project Financing Initiative (PFI projects require the private sector to invest an enormous amount of capital for the development of public projects. The private sector has to seek cost-effective financing sources for their survival in the long-term concession. Conventional financing uses widely; however, Islamic financing promises better financing through profit and loss sharing. This paper reviews financing preferences for PFI projects and the factors influencing the choice of funding. The results show that religious perspective, quality of services, financing facilities and reputation are the factors that are expected will influence the financing preference behaviour, either Islamic or conventional finance.

Merging Educational Finance Reform and Desegregation Goals

Directory of Open Access Journals (Sweden)

Deborah M. Kazal-Thresher

1993-06-01

Full Text Available Educational finance reforms and desegregation have both sought to address inequities in educational opportunities for minorities and low income families. The recent methods of addressing desegregation issues have tended to focus on attaining racial balance rather than educational quality, however. This paper explores how desegregation goals can be merged with educational finance reform to more systematically address educational quality in schools serving low income and minority populations. By moving toward centralized control over school financing, the inequity of school outcomes that are based on unequal school resources can be reduced. In addition, state determined expenditures when combined with desegregation monies, would meet the original intention of desegregation funds by clearly providing add-on monies for additional services for minority children, while at the same time, creating a better monitoring mechanism.

Financing patterns around the world: Are small firms different?.

OpenAIRE

Beck, T.H.L.; Demirgüc-Kunt, A.; Maksimovic, V.

2008-01-01

Using a firm-level survey database covering 48 countries, we investigate how financial and institutional development affects financing of large and small firms. Our database is not limited to large firms but includes small and medium-size firms and data on a broad spectrum of financing sources, including leasing, supplier, development, and informal finance. Small firms and firms in countries with poor institutions use less external finance, especially bank finance. Protection of property righ...

48 CFR 32.005 - Consideration for contract financing.

Science.gov (United States)

2010-10-01

... financing. 32.005 Section 32.005 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING 32.005 Consideration for contract financing. (a) Requirement. When a contract financing clause is included at the inception of a contract, there shall be no...

Access to finance for micro, small and medium business units in Serbian agribusiness

Directory of Open Access Journals (Sweden)

Sedlak Otilija

2016-01-01

Full Text Available Micro, small and medium business units contribute to development of agribusiness only if adequate financial resources for founding and development are given. This paper analyzes the possibilities of financing micro, small and medium legal entities in agribusiness in Serbia, compared to large enterprises. Empirical research included a survey comprising 119 agribusiness units, grouped into three categories dependent on their size. The aim was to confirm that there are substantial differences between units of different sizes, concerning possibilities of accessing bank loans and concerning the process of evaluation of conditions for credit approval. Also, aim was to determine differences between the uses of necessary key economic measures in agribusiness. Results showed significant differences between each group of business units for the majority of the observed parameters. Consequently the small and medium-sized enterprises (SMEs sector and especially entrepreneurs and farmers (micro units only have limited access to financial resources and more financing costs compared to large enterprises.

Marlim project finance; 'Project finance' de Marlim

Energy Technology Data Exchange (ETDEWEB)

D' Almeida, Albino Lopes [PETROBRAS, Rio de Janeiro, RJ (Brazil)

2004-07-01

Project Finance is often used worldwide to raise the funds to develop big projects, particularly in the area of power and infra-structure. It is designed to support a singular project and a specific purpose company is created to obtain the financing. The debt payment is secured by the enterprise's cash flow, avoiding real guarantee requirements. The lenders receive the future revenues and the property of the assets to be built. The risks are mitigated by agreements exhaustively negotiated among the parties. One of the most important Project Finances performed in Brazil is the Marlim Project, structured in order to complete the development of the Marlim oil field. This is the biggest Brazilian oil field, producing more than 500,000 barrels a day, almost 35% of the national production. This paper presents the general concepts related to this type of financing and general information about the project, including its structuring, negotiation and closing. The total commitment reaches US$ 1.5 billion obtained in both domestic and international markets through equity, bridge loan, bonds and commercial papers. Its whole life is 10 years, using 2 special purpose companies in its configuration. (author)

Access to finance from different finance provider types

NARCIS (Netherlands)

Wulandari, Eliana; Meuwissen, Miranda P.M.; Karmana, Maman H.; Oude Lansink, Alfons G.J.M.

2017-01-01

Analysing farmer knowledge of the requirements of finance providers can provide valuable insights to policy makers about ways to improve farmers’ access to finance. This study compares farmer knowledge of the requirements to obtain finance with the actual requirements set by different finance

Health-financing reforms in southeast Asia: challenges in achieving universal coverage.

Science.gov (United States)

Tangcharoensathien, Viroj; Patcharanarumol, Walaiporn; Ir, Por; Aljunid, Syed Mohamed; Mukti, Ali Ghufron; Akkhavong, Kongsap; Banzon, Eduardo; Huong, Dang Boi; Thabrany, Hasbullah; Mills, Anne

2011-03-05

In this sixth paper of the Series, we review health-financing reforms in seven countries in southeast Asia that have sought to reduce dependence on out-of-pocket payments, increase pooled health finance, and expand service use as steps towards universal coverage. Laos and Cambodia, both resource-poor countries, have mostly relied on donor-supported health equity funds to reach the poor, and reliable funding and appropriate identification of the eligible poor are two major challenges for nationwide expansion. For Thailand, the Philippines, Indonesia, and Vietnam, social health insurance financed by payroll tax is commonly used for formal sector employees (excluding Malaysia), with varying outcomes in terms of financial protection. Alternative payment methods have different implications for provider behaviour and financial protection. Two alternative approaches for financial protection of the non-poor outside the formal sector have emerged-contributory arrangements and tax-financed schemes-with different abilities to achieve high population coverage rapidly. Fiscal space and mobilisation of payroll contributions are both important in accelerating financial protection. Expanding coverage of good-quality services and ensuring adequate human resources are also important to achieve universal coverage. As health-financing reform is complex, institutional capacity to generate evidence and inform policy is essential and should be strengthened. Copyright © 2011 Elsevier Ltd. All rights reserved.

Health financing changes in the context of health care decentralization: the case of three Latin American countries

Directory of Open Access Journals (Sweden)

Arredondo Armando

2000-01-01

Full Text Available OBJECTIVE: The results of an evaluative longitudinal study, which identified the effects of health care decentralization on health financing in Mexico, Nicaragua and Peru are presented in this article. METHODS: The methodology had two main phases. In the first, secondary sources of data and documents were analyzed with the following variables: type of decentralization implemented, source of financing, funds for financing, providers, final use of resources, mechanisms for resource allocation. In the second phase, primary data were collected by a survey of key personnel in the health sector. RESULTS: Results of the comparative analysis are presented, showing the changes implemented in the three countries, as well as the strengths and weaknesses of each country in matters of financing and decentralization. CONCLUSIONS: The main financing changes implemented and quantitative trends with respect to the five financing indicators are presented as a methodological tool to implement corrections and adjustments in health financing.

Fuel-cycle financing, capital requirements and sources of funds

International Nuclear Information System (INIS)

Manderbach, R.W.

1977-01-01

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

Principals of the Islamic finance:A focus on project finance

OpenAIRE

Elasrag, hussein

2011-01-01

Islamic finance is one of the fastest growing segments of global financial industry. In some countries, it has become systemically important and, in many others, it is too big to be ignored.Islamic finance is based on shariah, an Arabic term that often is translated to “Islamic law.”Shariah provides guidelines for aspects of Muslim life, including religion, politics, economics,banking, business, and law.The basic sources of Shari’ah are the Qur’an and the Sunna, which are followed by the cons...

13 CFR 120.890 - Source of interim financing.

Science.gov (United States)

2010-01-01

... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Source of interim financing. 120... Development Company Loan Program (504) Interim Financing § 120.890 Source of interim financing. A Project may use interim financing for all Project costs except the Borrower's contribution. Any source (including...

Financing mechanisms for capital improvements : interchanges : final report.

Science.gov (United States)

2010-03-01

This report examines the use of alternative local financing mechanisms for interchange and interchange area infrastructure improvements. The financing mechanisms covered include transportation impact fees, tax increment financing, value capture finan...

MINOR INNOVATIVE ENTERPRISES AND METHODS OF THEIR FINANCING IN RUSSIA

Directory of Open Access Journals (Sweden)

A. G. Komissarov

2011-01-01

Full Text Available Minor enterprises do not have resources sufficient for investment. Present experience of venture financing and attraction of funds from finance markets is poor in Russia. Main minor entrepreneurship financing sources are state allocations in the form of subsidies, subventionsand donations. This support promotes economics diversification and increases jobs. The state becomes client of innovations and provides for business environment favorable for minor entrepreneurship and for subsequent diffusion of innovations. One of most efficient innovationactivity stimulation methods (applied to minor enterprises as well is provision for tax privileges, favorable state bank credits and preferences to innovation activity supporting commercial banks.

Financing Agricultural Enterprises By Cooperative Societies In ...

African Journals Online (AJOL)

The study was on cooperative societies financing of agricultural enterprises in Mbaise Area of Imo State, Nigeria. The objectives includes, identification of sources of finance for the cooperative societies and types of agricultural enterprises financed, profitability of the enterprises and the members or loan beneficiaries ...

Real world financing opportunities for energy conservation projects

Energy Technology Data Exchange (ETDEWEB)

Tramonte, D.J.

1988-01-01

Do you have the resources, dollars, people expertise and general know-how to do all the energy conservation measures. If you have the funds, do it yourself. Historically you would save more if you hired a private concern because that is the only job the contractor does for you. You have other hats to wear and fires to put out. Using third-party financing can be a good decision based on your specific needs. Procrastination is not the answer - the cost of delay is extensive. Financing energy conservation measures is no different from financing your automobile or home. If the benefits outweigh the negatives, the answer is obvious. Remember, in any case of using private sector financing, your are joining a partnership arrangement. The only way to succeed is to be honest with each other on the front end. There need not be any surprises. Any reputable company will gladly have your attorney evaluate all agreements, amortization schedules, and attachments. Real world financing alternatives will continue to change as the market matures. It's not too good to be true. It is no more than a vehicle to make the efforts of capital improvements streamlined. The money or financing is the catalyst to the project and makes the other areas meld.

Including alternative resources in state renewable portfolio standards: Current design and implementation experience

International Nuclear Information System (INIS)

Heeter, Jenny; Bird, Lori

2013-01-01

As of October 2012, 29 states, the District of Columbia, and Puerto Rico have instituted a renewable portfolio standard (RPS). Each state policy is unique, varying in percentage targets, timetables, and eligible resources. Increasingly, new RPS polices have included alternative resources. Alternative resources have included energy efficiency, thermal resources, and, to a lesser extent, non-renewables. This paper examines state experience with implementing renewable portfolio standards that include energy efficiency, thermal resources, and non-renewable energy and explores compliance experience, costs, and how states evaluate, measure, and verify energy efficiency and convert thermal energy. It aims to gain insights from the experience of states for possible federal clean energy policy as well as to share experience and lessons for state RPS implementation. - Highlights: • Increasingly, new RPS policies have included alternative resources. • Nearly all states provide a separate tier or cap on the quantity of eligible alternative resources. • Where allowed, non-renewables and energy efficiency are being heavily utilized

FINANCING OF NEW BUSINESS IDEAS IN SMALL ENTERPRISES

OpenAIRE

Adrian Dumitru Tantau; Laurentiu Catalin Fratila; Daniela Liliana Hincu

2008-01-01

Financing represents a central element of entrepreneurship. Financial resources allow developing new business projects and start up of activities of small enterprises. Unfortunately, the restrict credit politics for small enterprises and the absence of their resources represent important obstacle for implementation of new business ideas. In our research, we try to identify the main problems which oppose to the promotion of business ideas in small enterprises.

PROBLEMS AND PROSPECTS OF FINANCING HIGHER EDUCATION INSTITUTIONS OF UKRAINE

Directory of Open Access Journals (Sweden)

O. Krasilnyk

2015-03-01

Full Text Available The paper considers the problems of financing higher education institutions and focuses on formation of estimates of higher education institutions in Ukraine. The study established that the public and municipal education institutions financed by estimate and budget, which is determined by the amount and directions of use funds for implementation of functions and achieving the goals. The estimate has 2 components: general and special fund. The paper describes the practice of using general and special funds of higher education institutions. The results present the features of financing public and private higher education institutions. Public higher education institutions acutely feel the lack of financial resources. Tuition fees at public higher education institutions are calculated according to the requirements of the budget legislation. The conclusions suggest the prospects of financing higher education institutions in Ukraine. Higher education institutions need to give special attention to financial planning, optimization of financing sources and expenditures. It is necessary to reform the models, methods and forms of financing higher education sector.

Education Program on Fossil Resources Including Coal

Science.gov (United States)

Usami, Masahiro

Fossil fuels including coal play a key role as crucial energies in contributing to economic development in Asia. On the other hand, its limited quantity and the environmental problems causing from its usage have become a serious global issue and a countermeasure to solve such problems is very much demanded. Along with the pursuit of sustainable development, environmentally-friendly use of highly efficient fossil resources should be therefore, accompanied. Kyushu-university‧s sophisticated research through long years of accumulated experience on the fossil resources and environmental sectors together with the advanced large-scale commercial and empirical equipments will enable us to foster cooperative research and provide internship program for the future researchers. Then, this program is executed as a consignment business from the Ministry of Economy, Trade and Industry from 2007 fiscal year to 2009 fiscal year. The lecture that uses the textbooks developed by this program is scheduled to be started a course in fiscal year 2010.

Can we Finance the Energy Transition?

Directory of Open Access Journals (Sweden)

Ian Johnson

2015-05-01

Full Text Available The energy sector is pivotal to our aspirations for a sustainable planet and yet two major challenges face policymakers worldwide. The first is to decide what set of technical choices provide the best solution to meet social, economic and environmental agendas; and the second is to decide how these choices can be financed. The bulk of new energy demand will come from the emerging economies where energy demand is expected to increase by 40% over the coming three decades and to have doubled by the middle of the century. However for a number of reasons the investment needs of the energy sector are likely to rise even faster than overall energy demand. This is due to a number of factors over and above the increase in demand and described in the paper, including, inter alia, subsidized prices; the substitution of traditional energy for modern energy; the growth in peak demand in the electricity sector; the rising costs of securing primary energy resources; and the urgent need to replace vintage capital stock (including the decommissioning of nuclear power plants, especially in the developed countries. Clean energy investment will also incur high upfront investment costs in order to reduce long-term recurrent costs (fuel and maintenance. High priority must be given to energy demand management (both to reduce energy use and to reduce energy capital and investment in upgrading of existing capital stock can provide strong and quick returns. However, the net result of the long-term demand on the energy sector is that investment needs will grow dramatically, from around US $1.6 trillion per annum to over US $2 trillion per annum. The financial challenge is considerable. A level playing field is required that encourages greater competition of technology choice on the basis of correct pricing signals. It will require changes in subsidy policies in order to release finance and to encourage efficient investment; adherence to least-cost planning and investment

Islamic Finance and Economic Development Lessons from the past prospects for the future (Occasional Paper)

OpenAIRE

Ali, Salman Syed

2014-01-01

The Study starts by asking some fundamental qustions as to what role Islamic finance can play in socio-economic development, how similar or different it is from the conventional finance, and how its effectiveness can further be enhanced. The study analyzes the channels of impact of Islamic finance on real economic activities and, using Islamic finance in various sub-sectors of the economy. The study also covers aspects of resource mobilization and sound development of Islamic financial sector...

31 CFR 537.410 - Contracts and subcontracts regarding economic development of resources in Burma.

Science.gov (United States)

2010-07-01

... economic development of resources in Burma. 537.410 Section 537.410 Money and Finance: Treasury Regulations... supervision and guarantee of another person's performance of a contract that includes the economic development... royalties, earnings or profits of, the economic development of resources located in Burma. ...

FINANCING THE THEATRE: THE ROLE OF MANAGEMENT AND THE STATE

Directory of Open Access Journals (Sweden)

Ivana Bestvina Bukvić

2016-06-01

Full Text Available At a time when public funding of culture is being reduced and increasing attention is being paid to profitability, it is essential to apply an entrepreneurial mindset and management principles to the guidance and the financing of cultural institutions. This paper focuses on the theatre funding scheme and presents a survey analysing the structure of funding theatres in Croatia by weighting budgetary and commercial funding, as well as analyses possible measures to be implemented in order to improve the theatre funding model. A survey was conducted in 2015, which found that public theatres are predominantly funded by budgetary resources (62.14%, while the most important part of the revenue and income section of private theatres originates from selling their own products and services (43.99%. Theatres believe that budgetary resources still need to remain the dominant sources of funding, but in order to increase the level of operational excellence, a change of direction would be necessary towards one’s own resources, including donations and sponsorships. At the same time, better solutions in terms of increasing tax incentives and tax deductions for both donations and sponsorships would result in an increase in their importance in the financing of theatres. The impact of state action on the funding and operation of theatres is unquestionable, but in theatres there is a need for developing a working knowledge in the fields of management and entrepreneurship in order to gradually reduce dependence, particularly of public theatres, on state action.

A pre-feasibility case study on integrated resource planning including renewables

International Nuclear Information System (INIS)

Yilmaz, Pelin; Hakan Hocaoglu, M.; Konukman, Alp Er S.

2008-01-01

In recent years, economical and environmental constraints force governments and energy policy decision-makers to change the prominent characteristics of the electricity markets. Accordingly, depending on local conditions on the demand side, usage of integrated resource planning approaches in conjunction with renewable technologies has gained more importance. In this respect, an integrated resource planning option, which includes the design and optimization of grid-connected renewable energy plants, should be evaluated to facilitate a cost-effective and green solution to a sustainable future. In this paper, an integrated resource planning case is studied for an educational campus, located in Gebze, Turkey. It is found that for the considered campus, the integrated resource planning scenario that includes renewables as a supply-side option with existing time-of-use tariff may provide a cost-effective energy production, particularly for the high penetration level of the renewables

Anti-money laundering and counter-terrorist financing in the Luxembourg investment fund market

OpenAIRE

Dietz, Andrea

2017-01-01

The field of Anti-Money Laundering and Counter-Terrorist Financing in their current form have had an important impact on the financial world for almost half a century. Today, Money Laundering and Terrorist Financing pose a threat to the integrity of the financial markets and systems worldwide. The intention behind implementing a regulatory Anti-Money Laundering and Counter-Terrorist Financing framework is to cut off the financial resources of criminals and to follow back the traces that finan...

Research on the Renewable Energy Industry Financing Efficiency Assessment and Mode Selection

Directory of Open Access Journals (Sweden)

Xiaohuan Lyu

2018-01-01

Full Text Available In recent years, environmental issues are attracting widespread attention by various countries around the world. In this context, the renewable energy industry has become a stimulus point for economic development and has great potential for development. Renewable energy industry financing is difficult due to its characteristics of high risk and long-term investment returns, and relying on existing financing channels make it present a glut of excess capacity. It is key to realize resource optimal allocation, solve overcapacity phenomenon and select the valid financing mode. This paper used Bloomberg New Energy Finance (BNEF data and the data envelopment analysis (DEA method to analyze the financing efficiency different parts of the global renewable energy industry and different ways of financing. It could be found that although the financing efficiency showed a trend of increasing year by year, the financing efficiency of each industry presented generally weak DEA efficiency, the comprehensive financing efficiency of wind power industry was higher. The article also found that the financing efficiency of project financing and Research and Development (R&D were relatively high, and the equity market and venture capital and private equity were less efficient. The results of this paper play an important role in the overall financing status cognizance of the renewable energy industry and give suggestions about valid financing mode choice.

Clean air and project financing

International Nuclear Information System (INIS)

Zimmer, M.J.

1992-01-01

This article examines how environmental requirements are challenging the developers ability to secure financing for independent energy projects. The topics addressed in the article include a review of the US Environmental Protection Agency auction rules for acid rain emission allowances, short term and long term market demand, project financing issues, credit value and matching interests

INVESTMENT FINANCING THROUGH THE "PROJECT FINANCE"

OpenAIRE

Molina Arenaza, Hércules; Del Carpio Gallegos, Javier

2014-01-01

This article analizes and compares the various aspects related to the "Project Finance" technique using projects financing in the Capital Market, both in developed countries and in developing countries. Likewise, the application's technique is illustrated by Antamina mining enterprise. El artículo analiza y compara los diferentes aspectos relacionados con la técnica del Project finance usado en el financiamiento de proyectos en el mercado de capitales, tanto en los países desarrollados com...

Independent power project finance rating criteria

International Nuclear Information System (INIS)

Goldsmith, D.; Chew W.; Moulton, C.

1992-01-01

Continuing growth of project financing for non-utility generators in the US and abroad has led to growing focus on their credit strength. In general, the financings remain relatively risky and would likely be rated below investment grade, because of various factors: loose power purchase arrangements, poor match between power pricing and fuel costs, aggressive leverage, troubled operating performance. But S and P believes some projects have the credit strength to support investment grade ratings. As traditional financing markets for these projects --- bank lending and private placements with highly specialized institutional investors --- have contracted, project sponsors and developers are considering broader markets. These include institutional investors without specialized focus on power project finance. In these markets, distinctions among projects may lead to greater liquidity and efficiency in developing the pricing and terms under which projects can be financed. This paper reports that ratings are most appropriate for projects seeking permanent financing as they enter commercial operations. They also may be useful for projects which have been operating for some time and for some very strong projects which are raising construction financing. To guide both project developers and investors in project financing, S and P has developed the following approach for rating these types of financings

Project financing versus corporate financing under asymmetric information

OpenAIRE

Anton Miglo

2008-01-01

In recent years financing through the creation of an independent project company or financing by non-recourse debt has become an important part of corporate decisions. Shah and Thakor (JET, 1987) argue that project financing can be optimal when asymmetric information exists between firm's insiders and market participants. In contrast to that paper, we provide an asymmetric information argument for project financing without relying on corporate taxes, costly information production or an assump...

Resources, Technology, and Strategy

DEFF Research Database (Denmark)

Resources, Technology and Strategy brings together contributors from Europe, North America and Asia to consider the strategic relationship between technology and other resources, such as production capabilities, marketing prowess, finance and organisational culture. Throughout the book...

Financing Public Service Broadcasting

DEFF Research Database (Denmark)

Berg, Christian Edelvold; Lund, Anker Brink

2012-01-01

Broadcasting (PSB) financing regimes in Europe, concluding that Denmark, Finland, Iceland, Norway, and Sweden may still be considered conventional, licence fee PSB countries, but with some interesting differences in relation to competitive and market oriented alternatives of resource provision......Recently several European countries have abolished the traditional public service licence fee system, replacing it with direct public funding. But except for Iceland, the Nordic countries have not followed suit. The article discusses this development within a comparative framework of Public Service...

A reappraisal of Modgliani's finance theories

Directory of Open Access Journals (Sweden)

Terenzio Cozzi

2005-01-01

Full Text Available The paper examines the influence of Modigliani's contributions to the theory of finance. As for the term structure of interest rates, the preferred habitat theory, had a mixed fortune: it was utilized by financial managers for a rather long time, before being discarded in the 1980s and, perhaps, being somewhat resumed in our days. The Modigliani-Miller theorem is considered as a landmark in finance theory, even if the controversies over both its assumptions and conclusions had indeed been very strong. By contrast, financial managers completely disregarded the thesis of an irrational undervaluation of stocks in inflationary periods. But most economists appreciate the proof that, for rather long periods, the market can be inefficient in channelling the resources towards the most productive utilizations.

Specialized financing techniques

International Nuclear Information System (INIS)

Shepherd, J.

1992-01-01

Specific financing techniques applicable to wind energy projects in Canada are discussed. A limited partnership is the classic Canadian approach to tax-advantaged financing. For a typical wind project, the limited partners would get an internal rate of return of around 8% over 20 years as well as income tax deductions on Class 34 investments. This rate can be improved if the investors borrow some of the money; they get tax-free cash flow while having deductible loan interest, raising their rate of return after taxes to ca 9-10%. Special situation investors can get to take all of the Class 34 deduction right away, raising their return up to the 12% range. These investors include principal business corporations (such as utilities or oil companies), or companies who have sold their business. A second type of financing structure is related to inflation-indexed debt. The loan is structured like a mortgage, with the annual payments indexed to inflation but nevertheless low enough to provide an early positive cash flow from the project. Other possible financing structures are the immigrant investor fund and the provincial incentive corporations

Changing project finance climate; Project finance wo meguru kankyo henka

Energy Technology Data Exchange (ETDEWEB)

Madono, S. [The Export-Import Bank of Japan, Tokyo (Japan)

1998-03-01

Development of conditions under which project financing (PF) functions is described. PF, a method with which funds are procured for a project on the security of the assets of and the cash flow involving the project, established its position as a popular financial means. Into the 1990, however, PF underwent a complete change, when it came to be actively employed as a means for the procurement of money for what is called `infrastructure building project for invigorating the private sector` in the developing countries. PF has now come to be utilized for the financing of projects in various fields besides the field of resources exploitation. In particular, PF is now utilized in schemes such as BOT (build, operate, transfer) in public enterprises, for instance, electric power utilities in developing countries. The gravest problem found in the private sector invigorating type PF is that the sponsor, operator, exporter, and lender on their respective levels are experiencing rising risks because of intensified competition in the presence of a great number of projects. Such risks involve the exchange rate, the completion of work, and the relations between the borrower and operator. 2 figs.

Financing Renewable Energy Projects in Developing Countries: A Critical Review

Science.gov (United States)

Donastorg, A.; Renukappa, S.; Suresh, S.

2017-08-01

Access to clean and stable energy, meeting sustainable development goals, the fossil fuel dependency and depletion are some of the reasons that have impacted developing countries to transform the business as usual economy to a more sustainable economy. However, access and availability of finance is a major challenge for many developing countries. Financing renewable energy projects require access to significant resources, by multiple parties, at varying points in the project life cycles. This research aims to investigate sources and new trends in financing RE projects in developing countries. For this purpose, a detail and in-depth literature review have been conducted to explore the sources and trends of current RE financial investment and projects, to understand the gaps and limitations. This paper concludes that there are various internal and external sources of finance available for RE projects in developing countries.

Financing the Ranger uranium project

International Nuclear Information System (INIS)

Hodge, S.J.; Miskelly, N.

1983-01-01

Construction of the Ranger uranium project located 230 km east of Darwin in the Northern Territory commenced in January 1979. Energy Resources of Australia Ltd was incorporated in February 1980 to acquire all the rights in the project. The total cost to ERA of these rights was $407 million. In October 1980 ERA'S cash requirements were estimated to be $553 million. Overseas participants (power utilities who had agreed to purchase uranium yellowcake under contract) arranged to take up 25% of the equity capital, Peko-Wallsend Ltd and EZ Industries Ltd were allotted 30.5% each and 14% was issued to Australian residents. The loan and equity financing arrangements required the successful resolution of many complex and interlocking factors, including technical and economic feasibility, agreement with aboriginal interests, compliance with Government policies and securing of sales contracts

Competition with evolution in ecology and finance

International Nuclear Information System (INIS)

Sprott, J.C.

2004-01-01

A variant of the multi-species Lotka-Volterra model is studied in which species competing for fixed finite resources are replaced by new randomly chosen species whenever they become extinct. The model exhibits chaos, punctuated equilibria, leptokurtosis, and self-organized criticality. It has application to ecology, finance, and possibly other diverse systems

A Comparative Assessment of Higher Education Financing in Six Arab Countries

Science.gov (United States)

El-Araby, Ashraf

2011-01-01

This study analyses the policies for financing higher education in six Arab countries: Egypt, Jordan, Lebanon, Morocco, Syria, and Tunisia. It assesses the adequacy of spending on higher education, the efficiency with which resources are utilized, and the equity implications of resource allocations. Based on six detailed case studies, this…

Obstacles to the Mortgage Financing of Forest Rights and its Countermeasures

Institute of Scientific and Technical Information of China (English)

2011-01-01

Current status of the mortgage financing of forest rights is introduced.Significance of the development of mortgage financing of rural forest rights is analyzed,indicating that the mortgage financing of rural forest rights is an inevitable trend of rural reform development,Mortgage financing of forest rights in rural China is an effective vector for the farmers’ income increase project with financial support,explores the great potential of forest resources,promotes the coordinated development of forestry and financial services.Major obstacles for the mortgage financing of forest rights at present is pointed out,which are the high assessment fees,the complex mortgage valuation,the unsound element market of forestry,and the lack of risk protection mechanism.Countermeasures for the development of mortgage financing of forest rights is out forward.For instance,both government and Forestry Bureau should strengthen the circulation services,establish smooth evaluation mechanism,establish companies for rural assets platform,increase the interest subsidies for forest right mortgage and the risk compensation,strengthen the team construction and improve the service system.

Challenges facing the finance reform of the health system in Chile.

Science.gov (United States)

Herrera, Tania

2014-05-28

Financing is one of the key functions of health systems, which includes the processes of revenue collection, fund pooling and acquisitions in order to ensure access to healthcare for the entire population. The article analyzes the financing model of the Chilean health system in terms of the first two processes, confirming low public spending on healthcare and high out-of-pocket expenditure, in addition to an appropriation of public resources by private insurers and providers. Insofar as pooling, there is lack of solidarity and risk sharing leading to segmentation of the population that is not consistent with the concept of social security, undermines equity and reduces system-wide efficiency. There is a pressing need to jumpstart reforms that address these issues. Treatments must be considered together with public health concerns and primary care in order to ensure the right to health of the entire population.

APPROACHES FOR EVALUATING AND FINANCING INVESTMENT PROJECTS

Directory of Open Access Journals (Sweden)

MARIA-LOREDANA POPESCU

2011-04-01

Full Text Available This article presents the financial investment approach and the investment evaluation methods, which are criteria for assessing both investment projects and their funding sources. An important role in the analysis carried out is played by the investment decision and financing decision quality. Making an investment decision implies computing the related investment efficiency indicators. They allow the comparison of several variants of the same investment project as well as their comparison with other projects in the same industry or in other industries. The financing decision concerns the selection between their own sources (share capital, depreciation fund, profits, reserve funds, additional capital, revenues from investments, attracted sources (domestic resource mobilization and borrowed sources (credits.

EVOLUTION OF APPROACHES TO FINANCE THE BUDGET DEFICIT

Directory of Open Access Journals (Sweden)

K. Cherkashyna

2014-12-01

Full Text Available In the article, the causes and existence of the state budget deficit are defined. The main source of budget deficit financing in historical retrospective are considered. The most popular government securities which issued in foreign countries are compared in the article. The dynamics of the budget deficit in Ukraine and the sources of its coverage are analyzed in the article. There are three main types of government securities in Ukraine, such as: national currency-denominated government bonds, foreign currency-denominated government bonds and target government bonds. The main market maker of the government bonds' market is National Bank of Ukraine. The volume of resources, which are mobilized from the issue of the national currency-denominated government bonds are major then the volume of resources, which are mobilized from the issue of the foreign currency-denominated government bonds The necessity of further improvement of government securities as an important source of budget deficit financing is emphasized.

Shifting the Climate Finance Paradigm: Nine Key Challenges for Developed Countries

Energy Technology Data Exchange (ETDEWEB)

Curtin, Joseph

2013-03-13

In 2009, developed countries committed to part-funding the cost of adapting to the impacts of climate change and of low carbon development in developing countries. From 2010 to 2012, fast start finance began to flow from developed country exchequers. However, the climate finance paradigm is now shifting. A transition from loans and grants provided from scarce exchequer resources to innovative instruments for leveraging private capital and mitigating investment risk is required in the coming period. But what are the implications for developed countries? This policy brief explores the policy context defining the current climate finance debate; examines the extent to which commitments have been met; and identifies nine key challenges for developed countries as they enter the new climate finance paradigm, drawing on the lessons of the fast start finance period. This is the second in a series of Environment Nexus policy briefs by leading experts in the fields of agriculture, energy, climate change and water.

Financing considerations for international coalbed methane projects - a case history

International Nuclear Information System (INIS)

Mize, J.S.

1990-01-01

This presentation on financing of international, coalbed methane fueled Cogen projects is intended to provide the reader with some insight into the key steps and issues involved in financing an outside-the-USA project. No claim is made as to whether the strategy employed for the China projects will be suitable for other projects. The presentation is made from the perspective of an entrepreneur seeking a workable financial structure to address the concerns of risk, return, technology transfer to a third world country, and stage-wise development from prefeasibility assessment through complete resource development and gas utilization. The China projects referred to in this paper are not yet fully financed. Final project approvals for financing awaiting a request by the USA group for China to confirm that their 50% funding is available, and that initial funds have been transferred to the USA group's bank account

Financing U.S. exploration

International Nuclear Information System (INIS)

Dell'Osso, L. Jr.

1990-01-01

This paper discusses the challenges of financing U.S. exploration from the perspective of an independent oil and gas producer. When Burlington Resources was split into a separate company from the Burlington Northern Railroad three years ago, the company owned extensive resources but had little production capability, and had to resolve the problem of raising development capital. According to the author of this paper, three key elements in the company's perception of the business environment drove its strategy: that the role of independent producers would be crucial in new onshore oil and gas development as the majors moved offshore; that energy prices would remain weak; and that financial market sentiment would not favor a move to leverage the company more highly than its starting-point of 19 percent debt-to-total capital ratio

The Gateway Paper--financing health in Pakistan and its linkage with health reforms.

Science.gov (United States)

Nishtar, Sania

2006-12-01

Pakistan currently principally uses three modes of financing health--taxation, out of pocket payments and donor contributions of which the latter is the least significant in terms of size. Less than 3.6% of the employees are covered under the social security scheme and there is a limited social protection mechanism, which collectively serves the health needs of 3.4% of the population. The main issues in health financing include low spending, lack of attention to alternate sources of financing and issues with fund mobilization and utilization. With respect to the first, health reforms proposed as part of the Gateway Paper make a strong case for promoting the reallocation of tax-based revenues and developing sustainable alternatives to low levels of public spending on health. With respect to alternative sources of health financing, the Gateway Paper lays stress on exploring policy options for private health insurance, broadening the base of Employees Social Security, creating a Federal Employees Social Security Programme, developing social health insurance within the framework of a broad-based social protection strategy, which scopes beyond the formally employed sector, establishing a widely inclusive safety net for the poor; mainstreaming philanthropic grants as a major source of health financing; developing a conducive tax configuration; generating greater corporate support for social sector causes within the framework of the concept of Corporate Social Responsibility and developing cost-sharing programmes, albeit with safeguards. The Gateway Paper regards efficient fund utilization a priority and lays stress on striking a balance between minimizing costs, controlling costs and using resources more efficiently and equitably--in other words, getting the best value for the money, on the one hand, and increasing the pool of available resources, on the other. Specific interventions such as the promotion of transparent financial administration, budgeting and cost

Project financing

International Nuclear Information System (INIS)

Cowan, A.

1998-01-01

Project financing was defined ('where a lender to a specific project has recourse only to the cash flow and assets of that project for repayment and security respectively') and its attributes were described. Project financing was said to be particularly well suited to power, pipeline, mining, telecommunications, petro-chemicals, road construction, and oil and gas projects, i.e. large infrastructure projects that are difficult to fund on-balance sheet, where the risk profile of a project does not fit the corporation's risk appetite, or where higher leverage is required. Sources of project financing were identified. The need to analyze and mitigate risks, and being aware that lenders always take a conservative view and gravitate towards the lowest common denominator, were considered the key to success in obtaining project financing funds. TransAlta Corporation's project financing experiences were used to illustrate the potential of this source of financing

Fiscal Federalism and Local Government Finance in Nigeria

Science.gov (United States)

Alo, Ejikeme Nonso

2012-01-01

Fiscal federalism deals with the sharing of resources in a federated nation. Over the years problems about local government finance have become an important aspect of intergovernmental relations. Constitutionally, local government is the third tier of government which exists as an independent entity, possessing some degree of autonomy and…

WHAT DRIVES HIGH COST OF FINANCE IN MOLDOVA?

Directory of Open Access Journals (Sweden)

Alexandru Stratan

2012-03-01

Full Text Available Why there are high costs to finance in Republic of Moldova? Is it a problem for business environment?These are the questions discussed in this paper. Following the well know Growth Diagnostics approach byHausmann, Rodrik and Velasco, authors assess the barriers and impediments to access to finance in Republic ofMoldova. Guided by international and national statistics we found evidence of poor intermediation, poorinstitutions, high level of inflation, and high collateral as major causes of high cost of financial resources inRepublic of Moldova. At the end of the study authors give policy recommendations identifying other related fieldsto be addressed.

Climate change finance. If you can't measure it , you can't manage it

Energy Technology Data Exchange (ETDEWEB)

Clapp, Christa S.

2012-07-01

Climate change finance is currently estimated at between approximately USD 70 and 120 billion per year. However, these estimates involve a fair amount of uncertainty. There is no agreed definition of what climate finance includes; moreover, for private sector flows, the range is estimated using mismatched data sources.The significant sums of financing committed in the international climate change negotiations (USD 100 billion per year by 2020) are expected to be earmarked according to the traditional template whereby developed countries provide financing to developing countries. Not only is this an outdated view of how private investment moves in today's global world, it also provides an impractical framework for keeping track of financial flows. Furthermore, the developed/developing country negotiating viewpoints are plagued by disagreement as to which public sector and private sector financial flows should count. Managing limited financial resources effectively requires grasping how financial flows contribute to results in climate mitigation and adaptation. As yet we have little understanding of the tangible results being achieved from these flows, and how public money and instruments drive private investments. Better understanding will require consistent information on a range of indicators of successful financial interventions, including leveraging ratios. We need to consider what financial kinds of information could serve both purposes: to measure progress towards the USD 100 billion commitment, and to measure how effective financial flows are in achieving results. We need a common definition of what types of flows are to be considered 'climate change finance'. Until such a definition has been agreed, governments and organizations must be more transparent as to what account as 'climate finance'. Governments should work with private investor groups and data providers to adapt existing information so as to provide a more comprehensive

Financing wind projects

International Nuclear Information System (INIS)

Manson, J.

2006-01-01

This presentation reviewed some of the partnership opportunities available from GE Energy. GE Energy's ecomagination commitment has promised to double research investment, make customers true partners and reduce greenhouse gases (GHGs). GE Energy's renewable energy team provides a broad range of financial products, and has recently funded 30 wind farms and 2 large solar projects. The company has a diverse portfolio of technology providers and wind regimes, and is increasing their investment in technology. GE Energy recognizes that the wind industry is growing rapidly and has received increased regulatory support that is backed by strong policy and public support. It is expected that Canada will have 3006 wind projects either planned or under construction by 2007. According to GE Energy, successful wind financing is dependent on the location of the site and its wind resources, as well as on the wind developer's power sales agreement. The success of a wind project is also determined by clear financing goals. Site-specific data is needed to determine the quality of wind resource, and off-site data can also be used to provide validation. Proximity to load centres will help to minimize capital costs. Power sales agreements should be based on the project's realistic net capacity factor as well as on the cost of the turbines. The economics of many wind farms is driven by the size of the turbines used. Public consultations are also needed to ensure the success of wind power projects. It was concluded that a good partner will have staying power in the wind power industry, and will understand the time-lines and needs that are peculiar to wind energy developers. refs., tabs., figs

Financing mechanisms for capital improvements : interchanges, final report, March 2010.

Science.gov (United States)

2010-03-01

This report examines the use of alternative local financing mechanisms for interchange and interchange area infrastructure improvements. The financing mechanisms covered include transportation impact fees, tax increment financing, value capture finan...

NEW ATTRACTION MECHANISM OF INVESTMENT RESOURCES FOR FINANCING INFRASTRUCTURE PROJECTS

Directory of Open Access Journals (Sweden)

A. S. Popkova

2013-01-01

Full Text Available The paper analyzes revenue-yielding bonds as an efficient tool of governmental and municipal management. Conditions required for issue of  security papers have considered in the paper. The paper describes main  stages of the infrastructure bonded loan implementation. The global experience in financing construction and upgrading of infrastructure facilities through the bond issue has been investigated in the paper. The contains an analysis of risks while executing infrastructure projects and proposes methods for their minimization.

Stochastic analysis for finance with simulations

CERN Document Server

Choe, Geon Ho

2016-01-01

This book is an introduction to stochastic analysis and quantitative finance; it includes both theoretical and computational methods. Topics covered are stochastic calculus, option pricing, optimal portfolio investment, and interest rate models. Also included are simulations of stochastic phenomena, numerical solutions of the Black–Scholes–Merton equation, Monte Carlo methods, and time series. Basic measure theory is used as a tool to describe probabilistic phenomena. The level of familiarity with computer programming is kept to a minimum. To make the book accessible to a wider audience, some background mathematical facts are included in the first part of the book and also in the appendices. This work attempts to bridge the gap between mathematics and finance by using diagrams, graphs and simulations in addition to rigorous theoretical exposition. Simulations are not only used as the computational method in quantitative finance, but they can also facilitate an intuitive and deeper understanding of theoret...

FINANCING CAPACITY, AN INDICATOR OF SELF FINANCING FOR COMPANIES

Directory of Open Access Journals (Sweden)

Teodor Hada

2013-12-01

Full Text Available In the introduction of this paper the research objectives are presented on a case study, the research method, as well as the literature in the field and the novelty of this study. Furthermore, several aspects on the source of information for determining intermediate management balances are covered. In the third part of the study the indicator of self-financing capacity of companies is determined. The correlation between the self-financing capacity and term debts are shown in the fourth part and the fifth part of this study presents some aspects regarding global self-financing, maintaining self-financing, net self-financing, and finally the results of the study are presented.

Financing the nuclear fuel cycle

International Nuclear Information System (INIS)

Stephany, M.

1975-01-01

While conventional power stations usually have fossil fuel reserves for only a few weeks, nuclear power stations, because of the relatively long time required for uranium processing from ore extraction to the delivery of the fuel elements and their prolonged in-pile time, require fuel reserves for a period of several years. Although the specific fuel costs of nuclear power stations are much lower than those of conventional power stations, this results in consistently higher financial requirements. But the problems involved in financing the nuclear fuel do not only include the aspect of financing the requirements of reactor operators, but also of financing the facilities of the nuclear fuel cycle. As far as the fuel supply is concerned, the true financial requirements greatly exceed the mere purchasing costs because the costs of financing are rather high as a consequence of the long lead times. (orig./UA) [de

Behavioral finance

Directory of Open Access Journals (Sweden)

Kapor Predrag

2014-01-01

Full Text Available This paper discuss some general principles of behavioral finance Behavioral finance is the dynamic and promising field of research that mergers concepts from financial economics and cognitive psychology in attempt to better understand systematic biases in decision-making process of financial agents. While the standard academic finance emphasizes theories such as modern portfolio theory and the efficient market hypothesis, the behavioral finance investigates the psychological and sociological issues that impact the decision-making process of individuals, groups and organizations. Most of the research behind behavioral finance has been empirical in nature, concentrating on what people do and why. The research has shown that people do not always act rationally, nor they fully utilise all information available to them.

Financing wind power projects : perspectives from the US market

International Nuclear Information System (INIS)

Alam, M.

2005-01-01

This presentation outlined the recent assignments, core competencies and scope of services provided by Alyra Renewable Energy Finance Advisors. Renewable energy developers seek Alyra's assistance in developing strategies to achieve the most competitive solutions in finance and strategy. Alyra has broad finance expertise in renewable energy projects, a deep knowledge of markets and a significant wind industry network. Alyra identifies emerging issues, completes financing solutions and helps with contract negotiations. This presentation outlined the notable features of wind financing, wind assessment, offtake arrangements, equity considerations, US wind debt markets, long term bank financing, and combined bank and private placement financing. It also included recent debt market activity for seven large wind farms in the United States. tabs., figs

Nuclear fuel financing

International Nuclear Information System (INIS)

Lurf, G.

1975-01-01

Fuel financing is only at its beginning. A logical way of developing financing model is a step by step method starting with the financing of pre-payments. The second step will be financing of natural uranium and enrichment services to the point where the finished fuel elements are delivered to the reactor operator. The third step should be the financing of fuel elements during the time the elements are inserted in the reactor. (orig.) [de

Financing universal coverage in Malaysia: a case study.

Science.gov (United States)

Chua, Hong Teck; Cheah, Julius Chee Ho

2012-01-01

care, in better managing escalating healthcare costs associated with the increasing trend of non-communicable diseases. In tandem, health financing policies need to infuse the element of cost-effectiveness to better manage the purchasing of new medical supplies and equipment. Ultimately, good governance and leadership are needed to ensure adequate public spending on health and maintain the focus on the attainment of universal coverage, as well as making healthcare financing more accountable to the public, particularly in regards to inefficiencies and better utilisation of public funds and resources.

[Financing of the scientific publication and protection of the scientific knowledge].

Science.gov (United States)

Oliveira Filho, Renato Santos de; Hochman, Bernardo; Nahas, Fabio Xerfan; Ferreira, Lydia Masako

2005-01-01

The main purpose of a study is its publication on a scientific journal. Research financing agencies are important institutions so that studies can be developed and published. The most important research financing agencies that are discussed in this article are: "Coordenação de Aperfeiçoamento de Pessoal de Nível Superior" (CAPES), "Conselho Nacional de Desenvolvimento Científico e Tecnológico" (CNPq) and "Fundação de Amparo à Pesquisa do Estado de São Paulo" (FAPESP). CAPES' activities can be grouped in four different strategy lines: a) it evaluates the stricto sensu, at the post-graduation level; b) it provides access and development of scientific research; c) it provides investment on the development of high qualified human resources in Brazil and abroad, and d) it promotes international scientific cooperation. Although CAPES does not support directly scientific publications, almost all actions of this agency contribute to the development of scientific research and publication. CNPq has two main purposes: financing researches and development of human resources. It provides the researchers with financial aid to scientific publication. The grants for editing were specifically created for supporting the national scientific and technical publications edited by Brazilians institutions or societies. CNPq can also support Congresses, Symposiums and similar short-term courses. The Plataforma Lattes is also a branch of CNPq on which the Curriculum Lattes is available. This site has the curriculum vitae of the scientific community and is of great value for researchers. FAPESP also finances journal publications, articles and books that bring up original results of studies made by researchers from the state of São Paulo. It finances, partially, the travel expenses of innovative papers authors in meetings within the country or abroad. Brazilian authors are increasing the number of international publications. Universities, research institutes, financing agencies and

Public Finance in China since the Late Qing Dynasty

NARCIS (Netherlands)

B. Krug (Barbara)

2008-01-01

textabstractHow is "public finance" organized in China? Is China’s public finance system different from that of other countries? Can we detect features which link today’s system to the past? Public finance refers to more than annual state budgets and constitutional procedures. It includes foreign

EPIC Studies: Governments Finance, On Average, More Than 50 Percent Of Immunization Expenses, 2010-11.

Science.gov (United States)

Brenzel, Logan; Schütte, Carl; Goguadze, Keti; Valdez, Werner; Le Gargasson, Jean-Bernard; Guthrie, Teresa

2016-02-01

Governments in resource-poor settings have traditionally relied on external donor support for immunization. Under the Global Vaccine Action Plan, adopted in 2014, countries have committed to mobilizing additional domestic resources for immunization. Data gaps make it difficult to map how well countries have done in spending government resources on immunization to demonstrate greater ownership of programs. This article presents findings of an innovative approach for financial mapping of routine immunization applied in Benin, Ghana, Honduras, Moldova, Uganda, and Zambia. This approach uses modified System of Health Accounts coding to evaluate data collected from national and subnational levels and from donor agencies. We found that government sources accounted for 27-95 percent of routine immunization financing in 2011, with countries that have higher gross national product per capita better able to finance requirements. Most financing is channeled through government agencies and used at the primary care level. Sustainable immunization programs will depend upon whether governments have the fiscal space to allocate additional resources. Ongoing robust analysis of routine immunization should be instituted within the context of total health expenditure tracking. Project HOPE—The People-to-People Health Foundation, Inc.

Politics, Markets, and University Costs: Financing Universities in the Current Era

OpenAIRE

Geiger, Roger L.

2000-01-01

The purpose of this study is to determine the factors shaping the financing of the principal universities of the United States, and to explore the consequences for institutions and for students. Revenues are the lifeblood of these or any other universities. The level of resources that universities command from society determines the level and scope of their activities, and who provides these resources greatly affects their behavior. Moreover, where resources are concerned, both inequality and...

Traditional finance : behavioral finance distinction in the context of expected utility and prospect theories

OpenAIRE

Tekin, Bilgehan

2016-01-01

Traditional finance has developed based on two fundamental assumptions, including the expected utility theory and rational choice or decision. However, this hypothesis has been criticized heavily by put forward that are not realistic enough. The basis of behavioral finance theory is based on the “prospect theory”. According to this theory individuals cannot act fully rational, they install more sense to loses than at the same amount of profit and they exhibit risk and loss aversion behaviour....

Financing and risk management of energy and mineral products in Nigeria

International Nuclear Information System (INIS)

Adepoyigi, T.

1997-01-01

Nigeria currently produces about 2 million barrels of oil per day and has proven reserves of about 21 billion barrels of oil and 150 trillion cubic feet (tcf) of gas. It is the world's 9 th largest producer of oil, OPEC's 5 th largest producer and Africa's largest producer. Nigeria also has considerable gas resources which are currently unexploited. Due to insignificant domestic demand and a current lack of export opportunities for unprocessed gas, Nigeria's total gas production is approximately 1.0 tcf per year, 85% of which is associated with crude oil production. In order to derive economic benefit from the untapped gas resources, the Federal Government, through special fiscal incentives and joint sponsorships, is actively encouraging the development of gas projects, such as the Oso NGL project (MPN/NNPC). the Escravos Gas Utilisation Project (Chevron/NNPC) and the Nigeria Liquefied Natural Gas (NLNG) project (Shell/Elf/AGIP/NNPC). These and other projects in the energy and mineral industry are primarily being financed with equity and external borrowings (debt). However, the large amount of capital required to finance a major energy or mineral project can strain the ability of many organizations to borrow money and fund the equity contributions needed as well as strain the lending levels for many banks in Nigeria. Since the available local financing is not adequate, large projects development are therefore financed from external sources

THE NECESSITY OF IMPLEMENTING REFORMS IN THE FIELD OF LOCAL PUBLIC FINANCE

Directory of Open Access Journals (Sweden)

Vezure Oana Sabina

2013-06-01

Full Text Available The difficulties faced by local authorities as a result of the austerity conditions in which they work, the elements inherited from the previous regime, the need for additional resources to optimize public finance to meet the needs, optimally, if possible, citizens, require the design and continue the reform of public finances at the local level that correspond to these requirements. Optimization of the reform process in local public finances depend to a great extent on the use of financial levers of fiscal efficiency, fulfilment of the functions of public finance, the way resources are provided and how their administration for economic and social development. The uneven development of economic weakness of the assembly reflect and are unacceptable because, in their turn, become a source of economic and political instability. Responsibility for ensuring sufficient local revenue must not belong to a large measure, the central authorities, the context in which local authorities should prioritize finding solutions to supplement the local budget and obtain funds from the central budget. At the same time, cannot be intended directions of reform in the field of public administration without taking into account the financial implications reflected in the budgets for each level of Government, pyramid-shaped, from central to local level.

Including Ethics in Banking and Finance Programs: Teaching "We Shouldn't Win at Any Cost"

Science.gov (United States)

Oates, Grainne; Dias, Roshanthi

2016-01-01

Purpose: The purpose of this paper is to identify whether ethics is incorporated into the curriculum in postgraduate banking and finance programmes. There is growing concern that moral failure preceded the global financial crisis with waves of ethical scandals overwhelming the global banking industry highlighting a lack of integrity. Consequently,…

Modeling and assessing international climate financing

Science.gov (United States)

Wu, Jing; Tang, Lichun; Mohamed, Rayman; Zhu, Qianting; Wang, Zheng

2016-06-01

Climate financing is a key issue in current negotiations on climate protection. This study establishes a climate financing model based on a mechanism in which donor countries set up funds for climate financing and recipient countries use the funds exclusively for carbon emission reduction. The burden-sharing principles are based on GDP, historical emissions, and consumptionbased emissions. Using this model, we develop and analyze a series of scenario simulations, including a financing program negotiated at the Cancun Climate Change Conference (2010) and several subsequent programs. Results show that sustained climate financing can help to combat global climate change. However, the Cancun Agreements are projected to result in a reduction of only 0.01°C in global warming by 2100 compared to the scenario without climate financing. Longer-term climate financing programs should be established to achieve more significant benefits. Our model and simulations also show that climate financing has economic benefits for developing countries. Developed countries will suffer a slight GDP loss in the early stages of climate financing, but the longterm economic growth and the eventual benefits of climate mitigation will compensate for this slight loss. Different burden-sharing principles have very similar effects on global temperature change and economic growth of recipient countries, but they do result in differences in GDP changes for Japan and the FSU. The GDP-based principle results in a larger share of financial burden for Japan, while the historical emissions-based principle results in a larger share of financial burden for the FSU. A larger burden share leads to a greater GDP loss.

Guidebook to Geothermal Finance

Energy Technology Data Exchange (ETDEWEB)

Salmon, J. P.; Meurice, J.; Wobus, N.; Stern, F.; Duaime, M.

2011-03-01

This guidebook is intended to facilitate further investment in conventional geothermal projects in the United States. It includes a brief primer on geothermal technology and the most relevant policies related to geothermal project development. The trends in geothermal project finance are the focus of this tool, relying heavily on interviews with leaders in the field of geothermal project finance. Using the information provided, developers and investors may innovate in new ways, developing partnerships that match investors' risk tolerance with the capital requirements of geothermal projects in this dynamic and evolving marketplace.

Relationship finance, market finance and endogenous business cycles

OpenAIRE

Deidda, Luca Gabriele; Fattouh, Bassam

2010-01-01

This paper develops an overlapping generation model with asymmetric information in the credit market such that the interplay between relationship finance supplied by investors who monitor investment decisions ex-ante and market finance supplied by investors who relay on public information can be the source of endogenous business fluctuations. Monitoring helps reducing the inefficiency caused by moral hazard. However, the incentives of entrepreneurs to demand relationship finance to induce mon...

A PROMISING MECHANISM FOR FINANCING THE NATIONAL ECONOMY, SECURITY AND DEFENSE OF UKRAINE

OpenAIRE

Dmitry Klinovoi, Peter Rogov

2017-01-01

The principles of the permanent financing of necessities of state development, national safety and defensive due to forming of legal institute of civil property on natural resources and mechanisms of the sovereign financing by receivabless from natural rent are grounded here. The description of sovereign fund and fund of civil dividends as institutes of accumulation of state facilities and management of assets is given here.

Developing a mariculture business in Alaska: information and resources.

OpenAIRE

RaLonde, Ray; Paust, Brian

1993-01-01

This booklet provides information needed to start a mariculture business in Alaska, including agency resources and lists of publications. Everything you need to know about permits, planning, and financing is presented in an easy to follow layout. From preliminary steps to marketable product, this booklet will help the aquaculturist with all species farmed in Alaska, including oysters, mussels, scallops, clams, and seaweed. (41pp.)

"Money in Finance"

OpenAIRE

L. Randall Wray

2011-01-01

This paper begins by defining, and distinguishing between, money and finance, and addresses alternative ways of financing spending. We next examine the role played by financial institutions (e.g., banks) in the provision of finance. The role of government as both regulator of private institutions and provider of finance is also discussed, and related topics such as liquidity and saving are explored. We conclude with a look at some of the new innovations in finance, and at the global financial...

Corporate finance theorie en financiële crisis in breder perspectief

NARCIS (Netherlands)

Boot, A.W.A.

2008-01-01

Deze publicatie van het Amsterdam Center for Corporate Finance in haar discussiereeks ‘Topics in Corporate Finance’ gaat over de financiële crisis. Dat het financiële systeem het afgelopen jaar enige schrammetjes heeft opgelopen is een understatement. Het financiële stelsel staat onder druk. Grote

Social security financing.

Science.gov (United States)

1980-05-01

After nearly 2 years of study, the 1979 Advisory Council on Social Security submitted its findings and recommendations in December. In February the Bulletin published the Executive Summary of the Council's report. Because of the continuing wide public interest in the future of social security financing, the Council's detailed findings and recommendations on that subject are published below. The Council unanimously reports that all current and future beneficiaries can count on receiving the payments to which they are entitled. Among the recommendations it calls for are partial financing with nonpayroll-tax revenues. Suggested changes include hospital insurance (HI) financed through portins of personal and corporate income taxes and a part of the HI insurance payroll tax diverted to cash benefits with the balance of this tax repealed. The Council also recommends that the social security cash benefits program be brought into long-run actuarial balance--with a payroll-tax rate increase in the year 2005. It rejects the idea of a value-added tax as being inflationary. Parenthetical remarks represent additional views of the Council members cited.

Access to finance from different finance provider types: Farmer knowledge of the requirements.

Science.gov (United States)

Wulandari, Eliana; Meuwissen, Miranda P M; Karmana, Maman H; Oude Lansink, Alfons G J M

2017-01-01

Analysing farmer knowledge of the requirements of finance providers can provide valuable insights to policy makers about ways to improve farmers' access to finance. This study compares farmer knowledge of the requirements to obtain finance with the actual requirements set by different finance provider types, and investigates the relation between demographic and socioeconomic factors and farmer knowledge of finance requirements. We use a structured questionnaire to collect data from a sample of finance providers and farmers in Java Island, Indonesia. We find that the most important requirements to acquire finance vary among different finance provider types. We also find that farmers generally have little knowledge of the requirements, which are important to each type of finance provider. Awareness campaigns are needed to increase farmer knowledge of the diversity of requirements among the finance provider types.

Division of Finance Homepage

Science.gov (United States)

Top Department of Administration logo Alaska Department of Administration Division of Finance Search Search the Division of Finance site DOF State of Alaska Finance Home Content Area Accounting Charge Cards You are here Administration / Finance Division of Finance Updates IRIS Expenditure Object Codes

From public to private climate change adaptation finance : Adapting finance or financing adaptation?

NARCIS (Netherlands)

Pauw, W.P.

2017-01-01

Private financing is the latest mark of the privatisation of global governance. The implementation of international agreements in the fields of environment, climate change and development has always been supported by public finance from developed countries. This tradition is broken by a

Substitute energy resource policy in Japan

International Nuclear Information System (INIS)

Umehara, Katsuhiko

1980-01-01

Japan depends 88% of energy resources and 99.8% of petroleum on imports. The solution of energy problems is now made internationally. As the means for Japan, there are the substitution of other resources for petroleum and its promotion. However, this involves the considerable funds for the development and utilization, which must be borne by the people in the form of tax. For governmental financing, a special account must be set up for the particular purpose. In the research and development of new energy resources, new institution is required. The following matters are described: petroleum shortage coming even in 1980s, the international need of substitute energy development, the need for establishing measures for substitute energy resources, acquisition of the funds, special-account governmental financing, and an institute of new energy development. (author)

Financing public healthcare institutions in Ghana.

Science.gov (United States)

Akortsu, Mercy Akosua; Abor, Patience Aseweh

2011-01-01

The financing of healthcare services has been of a major concern to all governments in the face of increasing healthcare costs. For developing countries, where good health is considered a poverty reduction strategy, it is imperative that the hospitals used in the delivery of healthcare services are well financed to accomplish their tasks. The purpose of this paper is to examine how public hospitals in Ghana are financed, and the challenges facing the financing modes adopted. To achieve the objectives of the study, one major public healthcare institution in Ghana became the main focus. The findings of the study revealed that the main sources of financing the public healthcare institution are government subvention, internally-generated funds and donor-pooled funds. Of these sources, the internally generated fund was regarded as the most reliable, and the least reliable was the donor-pooled funds. Several challenges associated with the various financing sources were identified. These include delay in receipt of government subvention, delay in the reimbursement of services provided to subscribers of health insurance schemes, influence of government in setting user fees, and the specifications to which donor funds are put. The findings of this study have important implications for improving the financing of public healthcare institutions in Ghana. A number of recommendations are provided in this regard.

25 CFR 170.300 - May tribes use flexible financing to finance IRR transportation projects?

Science.gov (United States)

2010-04-01

... Financing § 170.300 May tribes use flexible financing to finance IRR transportation projects? Yes. Tribes may use flexible financing in the same manner as States to finance IRR transportation projects, unless... 25 Indians 1 2010-04-01 2010-04-01 false May tribes use flexible financing to finance IRR...

Hawaii Energy Resource Overviews. Volume 4. Impact of geothermal resource development in Hawaii (including air and water quality)

Energy Technology Data Exchange (ETDEWEB)

Siegel, S.M.; Siegel, B.Z.

1980-06-01

The environmental consequences of natural processes in a volcanic-fumerolic region and of geothermal resource development are presented. These include acute ecological effects, toxic gas emissions during non-eruptive periods, the HGP-A geothermal well as a site-specific model, and the geothermal resources potential of Hawaii. (MHR)

Offsets - An opportunity of Financing

International Nuclear Information System (INIS)

PRIN, Coralie

2008-01-01

Nuclear Research Reactors sometimes need to implement projects to upgrade, revamp or convert their reactor, acquire new fuel elements, etc. However, as their activities are mainly of noncommercial nature, they sometimes lack of financial resources to implement these projects by themselves. Several solutions exist: loans, governmental budget, subsidies from international organizations (IAEA). Offsets are another source of financing. They also are free of charge for the reactor. The objective of offsets is to Identify, implement and finance projects that: directly create or sustain a local economic activity of high-added value, would not have happened without the Obligor's intervention, and are of crucial importance given the country's political background (favor employment, technology transfers, training and education, research and development, etc.). Companies worldwide are willing to finance local projects to fulfill their Offset Obligation. Local organizations or institutions are willing to invest to increase their activities but lack of financial resources. Offset regulations are an opportunity on both sides and are free for the local organization. The monetary value of an Offset obligation is calculated as a percentage of the main contract price (or as a percentage of the imported part value). That percentage depends on the Country's legislation and on the nature of the main contract (defense or civilian). This value has to be compensated by an equivalent economic value (a Project's cost is different from its value). There is two ways of assessing a value: - Political aspects: The Project is of political importance for the country (development of an export capability, technology and/or know-how transfers) and the project in line with the country's political priorities (employment, research, international presence, etc.). - Economic benefits: the project directly sustains or creates additional activities, turnover, R and D, employment, etc. It benefits directly

Incentive Structure of Financing a Project: An Islamic Finance Approach

OpenAIRE

Lone, Fayaz Ahmad; Quadir, Abdul

2017-01-01

Financing is an important component in any project. Without finance, it is impossible to run any project as it is considered the lifeblood of the business. But due to the presence of predetermined rate of interest, economists have provided alternative approach for financing the project. In this paper a model using Profit and Loss Sharing (PLS) system and comparison of it with the conventional financing model is developed. Thrust in this paper is towards establishing a new theoretical reasonin...

Financing Reproductive and Child Health Services at the Local ...

African Journals Online (AJOL)

government became the main funding source for RH services (44.2%), partly reflecting government enhanced commitment to increase resources for maternal and child health, and due to exemption of pregnant women from paying for health care. Nevertheless, this commitment didn't last and the financing burden was borne ...

Finance

OpenAIRE

2013-01-01

Voici la 17e édition du Rapport moral sur l’argent dans le monde, publié chaque année depuis 1994 par l’Association d’économie financière avec le soutien de la Caisse des Dépôts. Abordant une nouvelle fois les grands débats qui traversent actuellement le monde de la finance, il se consacre dans un premier temps à la lutte contre la criminalité et les délits financiers, et plus particulièrement à la lutte contre la corruption, la délinquance dans la finance et la fraude fiscale. Dans un second...

The practical problems of applying cost-effectiveness analysis to joint finance programmes

OpenAIRE

Karen Gerard; Ken Wright

1990-01-01

Joint finance is money allocated by the Department of Health to NHS authorities to promote policies of inter-agency collaboration which prevent people being admitted to hospital or facilitate earlier discharge from hospital or save on NHS resources generally. Worries have been expressed that joint finance has not been used as effectively or efficiency as it might have been. This paper is concerned with the practical application of cost-effectiveness analysis to policies or schemes which typic...

Small finance banks: Challenges

Directory of Open Access Journals (Sweden)

Jayadev M

2017-12-01

Full Text Available A recent innovation in the Indian banking structure has been the formation of a new banking institution—small finance banks (SFBs. These banks are expected to penetrate into financial inclusion by providing basic banking and credit services with a differentiated banking model to the larger population. In this context the new SFBs have multiple challenges in coming out with a new, differentiated business model. The challenges include building low cost liability portfolio, technology management, and balancing the regulatory compliances. This paper also presents the top of mind views of three senior executives of new small finance banks.

Recommended Resources for Planning to Evaluate Program Improvement Efforts (Including the SSIP)

Science.gov (United States)

National Center for Systemic Improvement at WestEd, 2015

2015-01-01

This document provides a list of recommended existing resources for state Part C and Part B 619 staff and technical assistance (TA) providers to utilize to support evaluation planning for program improvement efforts (including the State Systemic Improvement Plan, SSIP). There are many resources available related to evaluation and evaluation…

Financing innovative technologies in wind projects

International Nuclear Information System (INIS)

Vaughan, C.

2006-01-01

Methods of market entry and the financing of new technologies were discussed from the perspective of Clipper Windpower, a wind energy company based in the northeastern United States and Canada. Many new technology companies only consider private equity when seeking financing for new product development. However, financing for projects and products is only the first step to market entry. Wind projects are the financial equivalent of a high yield bond with mechanical risk. Many wind power projects with company equity can also be seen as a long term bond with upside in any given year. It is therefore important for wind developers to seek out strategic buyers for both product development and project development, in addition to finding sources of private equity. Clipper Windpower Inc. has developed a partnership with British Petroleum (BP), who hold an equity interest in the company. Both companies are now partnering on projects with Clipper turbines, and firm orders are in place for 2007 and 2008. As a result of the partnership, Clipper now has increased its financial strength in cash flows, balance sheets, and projected revenue. It was concluded that a successful partnership can increase the scale of wind power development, and bring financial sophistication to smaller companies with limited resources. refs., tabs., figs

Finance/security/life.

OpenAIRE

Langley, P.

2017-01-01

What is the contemporary relation between finance and security? This essay encourages further research into the securitization of finance by developing the notion of ‘finance/security/life’. A focus on the intersections of finance/security/life will be shown to prompt a broadened range of critical, cross-disciplinary concerns with the various ways in which financial markets are positioned as vital to securing wealth, welfare and wellbeing.

Fuel cycle financing, capital requirements and sources of funds

International Nuclear Information System (INIS)

Manderbach, R.W.

1977-01-01

corporations, has led to consideration of project financing in the United States. The situation on financial fuel cycle projects in other countries is also discussed. Comments are included on the money market investment climate in developing countries, particularly as pertaining to the development of uranium resources

Financing Distributed Generation

International Nuclear Information System (INIS)

Walker, A.

2001-01-01

This paper introduces the engineer who is undertaking distributed generation projects to a wide range of financing options. Distributed generation systems (such as internal combustion engines, small gas turbines, fuel cells and photovoltaics) all require an initial investment, which is recovered over time through revenues or savings. An understanding of the cost of capital and financing structures helps the engineer develop realistic expectations and not be offended by the common requirements of financing organizations. This paper discusses several mechanisms for financing distributed generation projects: appropriations; debt (commercial bank loan); mortgage; home equity loan; limited partnership; vendor financing; general obligation bond; revenue bond; lease; Energy Savings Performance Contract; utility programs; chauffage (end-use purchase); and grants. The paper also discusses financial strategies for businesses focusing on distributed generation: venture capital; informal investors (''business angels''); bank and debt financing; and the stock market

Statistics for Finance

DEFF Research Database (Denmark)

Lindström, Erik; Madsen, Henrik; Nielsen, Jan Nygaard

Statistics for Finance develops students’ professional skills in statistics with applications in finance. Developed from the authors’ courses at the Technical University of Denmark and Lund University, the text bridges the gap between classical, rigorous treatments of financial mathematics...... that rarely connect concepts to data and books on econometrics and time series analysis that do not cover specific problems related to option valuation. The book discusses applications of financial derivatives pertaining to risk assessment and elimination. The authors cover various statistical...... and mathematical techniques, including linear and nonlinear time series analysis, stochastic calculus models, stochastic differential equations, Itō’s formula, the Black–Scholes model, the generalized method-of-moments, and the Kalman filter. They explain how these tools are used to price financial derivatives...

Tools for computational finance

CERN Document Server

Seydel, Rüdiger U

2017-01-01

Computational and numerical methods are used in a number of ways across the field of finance. It is the aim of this book to explain how such methods work in financial engineering. By concentrating on the field of option pricing, a core task of financial engineering and risk analysis, this book explores a wide range of computational tools in a coherent and focused manner and will be of use to anyone working in computational finance. Starting with an introductory chapter that presents the financial and stochastic background, the book goes on to detail computational methods using both stochastic and deterministic approaches. Now in its sixth edition, Tools for Computational Finance has been significantly revised and contains:    Several new parts such as a section on extended applications of tree methods, including multidimensional trees, trinomial trees, and the handling of dividends; Additional material in the field of generating normal variates with acceptance-rejection methods, and on Monte Carlo methods...

Consumer Finance

OpenAIRE

Peter Tufano

2009-01-01

Although consumer finance is a substantial element of the economy, it has had a smaller footprint within financial economics. In this review, I suggest a functional definition of the subfield of consumer finance, focusing on four key functions: payments, risk management, moving funds from today to tomorrow (saving/investing), and from tomorrow to today (borrowing). I provide data showing the economic importance of consumer finance in the American economy. I propose a historical explanation fo...

Comparative analysis of methods and sources of financing of the transport organizations activity

Science.gov (United States)

Gorshkov, Roman

2017-10-01

The article considers the analysis of methods of financing of transport organizations in conditions of limited investment resources. A comparative analysis of these methods is carried out, the classification of investment, methods and sources of financial support for projects being implemented to date are presented. In order to select the optimal sources of financing for the projects, various methods of financial management and financial support for the activities of the transport organization were analyzed, which were considered from the perspective of analysis of advantages and limitations. The result of the study is recommendations on the selection of optimal sources and methods of financing of transport organizations.

Financing modes and methods for nuclear power development in developing countries

International Nuclear Information System (INIS)

Su Qun

1999-02-01

In financing for nuclear power project in developing countries, governmental support is significant in reducing the risk of the project and improving the financing environment. Issues studied and discussed include financing conditions and methods, export credit and supply. An appropriate solution of the financing problem will play an important role in developing nuclear power

THE ENTERPRISE SELF-FINANCING – THE TAXATION IMPACT UPON SELF-FINANCING DECISION

OpenAIRE

Nicoleta BARBUTA-MISU

2009-01-01

This work study the self-financing problematic, with particular emphasis on their benefits for the enterprise, but also for shareholders, on domestic or external factors that influence the self-financing decision and its level, on the relationship between self-financing and depreciation, degree of debt and profitability and not in the last line on the self-financing cost. In the factors that acting on the self-financing decision was granted a special attention to taxation, whose impact has be...

Strategies for financing energy projects in East Central Europe

Energy Technology Data Exchange (ETDEWEB)

Fortino, S.E. [Texaco Inc., White Plains, NY (United States)

1995-12-01

This paper discusses financing options available for energy (power/steam) projects in East Central Europe. It is intended to be an overview and practical guide to such options in today`s environment. A survey is made of the principal multilateral and other financial institutions providing funding and/or credit support in the region. These include the European Bank for Reconstruction and Development, the World Bank, the International Finance Corporation, the export credit agencies, and the commercial banks. Specific guarantee and other support mechanisms which some of these institutions provide are covered, including the latest developments. In addition to loan financing, potential sources of equity financing are discussed. Next, a description of the credit rating process by such institutions as Standard and Poor`s, and an example of a successful rating effort in the Czech Republic, lead into a discussion of accessing foreign and domestic bond markets to finance energy projects in the region.

Financing of coal development in the PRC

Energy Technology Data Exchange (ETDEWEB)

Schofield, B J

1984-01-01

The financing of individual coal development projects in China is discussed. External finance can be raised from various sources including international and national aid institutions together with export credit agencies and commercial banks, or by means of a compensation trade agreement whereby the value of the coal produced meets the cost of equipment, etc.

Financing of health systems to achieve the health Millennium Development Goals in low-income countries.

Science.gov (United States)

Fryatt, Robert; Mills, Anne; Nordstrom, Anders

2010-01-30

Concern that underfunded and weak health systems are impeding the achievement of the health Millennium Development Goals in low-income countries led to the creation of a High Level Taskforce on Innovative International Financing for Health Systems in September, 2008. This report summarises the key challenges faced by the Taskforce and its Working Groups. Working Group 1 examined the constraints to scaling up and costs. Challenges included: difficulty in generalisation because of scarce and context-specific health-systems knowledge; no consensus for optimum service-delivery approaches, leading to wide cost differences; no consensus for health benefits; difficulty in quantification of likely efficiency gains; and challenges in quantification of the financing gap owing to uncertainties about financial commitments for health. Working Group 2 reviewed the different innovative mechanisms for raising and channelling funds. Challenges included: variable definitions of innovative finance; small evidence base for many innovative finance mechanisms; insufficient experience in harmonisation of global health initiatives; and inadequate experience in use of international investments to improve maternal, newborn, and child health. The various mechanisms reviewed and finally recommended all had different characteristics, some focusing on specific problems and some on raising resources generally. Contentious issues included the potential role of the private sector, the rights-based approach to health, and the move to results-based aid. The challenges and disagreements that arose during the work of the Taskforce draw attention to the many issues facing decision makers in low-income countries. International donors and recipient governments should work together to improve the evidence base for strengthening health systems, increase long-term commitments, and improve accountability through transparent and inclusive national approaches. Copyright 2010 Elsevier Ltd. All rights reserved.

How changes to Irish healthcare financing are affecting universal health coverage.

Science.gov (United States)

Briggs, Adam D M

2013-11-01

In 2010, the World Health Organisation (WHO) published the World Health Report - Health systems financing: the path to universal coverage. The Director-General of the WHO, Dr Margaret Chan, commissioned the report "in response to a need, expressed by rich and poor countries alike, for practical guidance on ways to finance health care". Given the current context of global economic hardship and difficult budgetary decisions, the report offered timely recommendations for achieving universal health coverage (UHC). This article analyses the current methods of healthcare financing in Ireland and their implications for UHC. Three questions are asked of the Irish healthcare system: firstly, how is the health system financed; secondly, how can the health system protect people from the financial consequences of ill-health and paying for health services; and finally, how can the health system encourage the optimum use of available resources? By answering these three questions, this article argues that the Irish healthcare system is not achieving UHC, and that it is unclear whether recent changes to financing are moving Ireland closer or further away from the WHO's ambition for healthcare for all. Copyright © 2013 Elsevier Ireland Ltd. All rights reserved.

Directory of financing sources for foreign energy projects

Energy Technology Data Exchange (ETDEWEB)

La Ferla, L. [La Ferla Associates, Washington, DC (United States)

1995-09-01

The Office of National Security Policy has produced this Directory of Financing Sources for Foreign Energy Projects. The Directory reviews programs that offer financing from US government agencies, multilateral organizations, public, private, and quasi-private investment funds, and local commercial and state development banks. The main US government agencies covered are the US Agency for International Development (USAID), the Export-Import Bank of the US (EXIM Bank), Overseas Private Investment Corporation (OPIC), US Department of Energy, US Department of Defense, and the US Trade and Development Agency (TDA). Other US Government Sources includes market funds that have been in part capitalized using US government agency funds. Multilateral organizations include the World Bank, International Finance Corporation (IFC), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), and various organizations of the United Nations. The Directory lists available public, private, and quasi-private sources of financing in key emerging markets in the Newly Independent States and other developing countries of strategic interest to the US Department of Energy. The sources of financing listed in this directory should be considered indicative rather than inclusive of all potential sources of financing. Initial focus is on the Russian Federation, Ukraine, india, China, and Pakistan. Separate self-contained sections have been developed for each of the countries to enable the user to readily access market-specific information and to support country-specific Departmental initiatives. For each country, the directory is organized to follow the project life cycle--from prefeasibility, feasibility, project finance, cofinancing, and trade finance, through to technical assistance and training. Programs on investment and export insurance are excluded.

Financing Distributed Generation

Energy Technology Data Exchange (ETDEWEB)

Walker, A.

2001-06-29

This paper introduces the engineer who is undertaking distributed generation projects to a wide range of financing options. Distributed generation systems (such as internal combustion engines, small gas turbines, fuel cells and photovoltaics) all require an initial investment, which is recovered over time through revenues or savings. An understanding of the cost of capital and financing structures helps the engineer develop realistic expectations and not be offended by the common requirements of financing organizations. This paper discusses several mechanisms for financing distributed generation projects: appropriations; debt (commercial bank loan); mortgage; home equity loan; limited partnership; vendor financing; general obligation bond; revenue bond; lease; Energy Savings Performance Contract; utility programs; chauffage (end-use purchase); and grants. The paper also discusses financial strategies for businesses focusing on distributed generation: venture capital; informal investors (''business angels''); bank and debt financing; and the stock market.

Corporate finance

OpenAIRE

P. Quiry; Y. Le Fur; A. Salvi; M. Dallocchio; P. Vernimmen

2011-01-01

Corporate Finance: Theory and Practice, 3rd Edition, the website www.vernimmen.com and the Vernimmen.com newsletter are all written and created by an author team who are both investment bankers/corporate financiers and academics. This book covers the theory and practice of Corporate Finance from a truly European perspective. It shows how to use financial theory to solve practical problems and is written for students of corporate finance and financial analysis and practising corporate financie...

Organising the Finances For and the Finances From Transnational Corporate Bribery

OpenAIRE

Lord, Nicholas; Michael Levi,

2016-01-01

This article analyses the finances for and the finances from corporate bribery in international business transactions and how they are organised. Transnational corporate bribery involves non-criminal commercial enterprises that operate in licit markets but that use corrupt means to win or maintain business contracts inforeign jurisdictions. This article first considers what needs to be financed, how much finance is needed, and how the bribes can be generated and distributed. Second, the artic...

Increasing revenues for protected areas. A wealth of financing options

International Nuclear Information System (INIS)

Verweij, P.

2004-12-01

This paper aims at giving an overview of traditional and new financing mechanisms in support of protected areas. The web of life is breaking down: our world is facing biodiversity loss at unprecedented rates. Human impacts are causing the acceleration of species loss, at rates of several hundreds up to 1000 times the natural rate of species extinction, depending on the type of organisms. Habitat degradation and loss, introduction of invasive species, pollution, and overexploitation of resources are factors that determine the process of mass extinction. Protected areas obviously play a critical role in biodiversity conservation. Article 8 of the Convention on Biological Diversity (CBD) obliges Parties to establish a system of protected areas to-conserve biodiversity, to develop guidelines for protected areas management and to promote appropriate development adjacent to protected areas. Besides agreeing on this global mandate for protected areas, through Article 8m of the CBD Parties committed themselves to cooperate in providing financial support for protected area systems: 'Each contracting party (...) shall cooperate in providing financial and other support for in-situ conservation (...) particularly to developing countries'. Current revenues for maintaining existing protected areas and the creation of new ones are insufficient. Annually, approximately USD 7 billion is spent on the creation and maintenance of protected areas around the world (Balmford, 2003). The amount required to adequately protect biodiversity is estimated to be about five times higher. The flow of revenues from traditional and new financing mechanisms should clearly be increased to mitigate the financing deficit for protected areas. As part of the solution, innovative financing mechanisms are being developed aimed at increasing the global revenues for protected areas, thus capturing the multiple values of ecosystem goods and services provided by protected areas to mankind. This scoping paper

European Union Funds as a Source of Financing the Companies Investments

Directory of Open Access Journals (Sweden)

Katarzyna Kornet

2008-12-01

Full Text Available Entrepreneurs are main beneficiaries of the funds from European Union. The process of financial support from EU for entrepreneurs conducting business activities in Poland is an important issue, which should be taken up by entrepreneurs, government and other offices and institutions, which participate in the process of absorption of the financial support. Introduction of the possibilities of financing and realization of the investment originating from various EU programs in new the 2007–2013 programming perspective, understanding of the stages of preparation of the project and application form, knowled - ge about financing principles of the investments from granted support are essential. Co-financing of project realized from EU financial resources is connected with a lot of advantages. First of all, the donations present an additional source of financial sup - port for enterprises which allow to accomplish the investment bear considerably with lo - wer costs than by using other sources (for example credit. Secondly, the donation allows accomplishing the investment faster, to create new additional job positions and utilize modern technology, which company couldn’t afford to by using its own funds. Moreover, the resources from various European Funds have a favorable effect (impact on enterprise develop ment and on improvement its competitiveness in the market. The company and all technologies, which could be implemented, can become more innovative. If the firm has an access to such sources of financing, it would have an opportunity for considera - bly faster development in comparison with other forms of financing its activity. Thirdly, the range of support for enterprises is very wide. Company can request for funding of project from various areas, from purchasing fixed as sets and buying land or from purcha - sing intangible as sets to take advantage of an advisory service.

Fiddle at financing of Mochovce NPP

International Nuclear Information System (INIS)

Beer, G.

2003-01-01

Slovak police found out and documented racket in financing of third and fourth block of Mochovce NPP. Damage should be 144 millions Slovak crowns. Investigator consequently accused twenty-three Slovaks from foundation, trump up and supporting of criminal group and deception. Two persons are suggested to be taken to custody. Skoda Praha, which was general supplier of construction for 1,5 billions Slovak crowns, in 2001 allowed to create a connection to let the finances between Slovenske elektrarne, a.s., Bratislava as investor and Skoda as subcontractor to be paid through three mediator companies. Companies got authorization to balance the relationship among all interested subjects. Confused network of 118 treaties was created. They invoiced reward from money current based on these treaties. Reward represented up to 70 per cent of transferred resources in some cases. According to Minister of Domestic Affairs Vladimir Palko it will be necessary to find out where is actually the money. For the time being nobody from NPP is among accused. (Author)

The Equity Challenge in China's Higher Education Finance Policy

Science.gov (United States)

Sun, Fengshou; Barrientos, Armando

2009-01-01

Sustaining China's rapid economic growth in the future will come to depend in large part on the quantity and quality of the human resources it can mobilize. The paper considers the prospects for higher education financing, and highlights the importance of improving equity in access to higher education as a precondition for a sustainable expansion…

Financing energy projects: experience of the International Finance Corporation

International Nuclear Information System (INIS)

Bond, Gary; Carter, Laurence

1995-01-01

This paper provides an overview of the recent trend towards private ownership and financing of power projects in the developing countries, focusing on the role played by both private and public agencies in meeting the large financing challenges. The paper draws upon the operational experience of the International Finance Corporation, which has been involved in the financing of more than 30 private power projects in the developing countries over the past three decades. Among the issues that affect implementation of private power projects is the balancing of risk and reward to equity investors and to commercial lenders. The paper discusses the principal sources of risk and the strategies used to manage them. A related issue is the competition for capital on the international markets, and the techniques that are being devised to bring more finance to the power sector. Finally, the paper considers the role of government in bringing private investors to the power sector, and the approaches being adopted to balance the needs of investors with the needs of the public. (author)

24 CFR 572.105 - Financing the purchase of properties by eligible families.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 3 2010-04-01 2010-04-01 false Financing the purchase of properties by eligible families. 572.105 Section 572.105 Housing and Urban Development Regulations Relating... Financing the purchase of properties by eligible families. (a) Types of financing. (1) Financing may include...

Household Finance

OpenAIRE

Campbell, John

2006-01-01

The welfare benefits of financial markets depend in large part on how effectively households use these markets. The study of household finance is challenging because household behavior is difficult to measure accurately, and because households face constraints that are not captured by textbook models, including fixed costs, uninsurable income risk, borrowing constraints, and contracts that are non-neutral with respect to inflation. Evidence on participation, diversification, and the exercise ...

Istota finansowania na zasadach project finance i jego zastosowanie w rozwoju gospodarczym Polski w perspektywie przystąpienia do Unii Europejskiej

OpenAIRE

Bujnowicz, Iwona

2004-01-01

Project finance has been used for decades in Western countries to found major resource and infrastructure projects in a manner which is satisfactory and beneficial to the sponsors and financiers alike. Central and Eastern Europe represents the next frontier for successful project finance transactions. Project finance refers to the financing of long-term infrastructure, industrial projects and public services based upon a non-recourse or limited recourse financial structure where project debt ...

Innovative financing for late-stage global health research and development: the Global Health Investment Fund.

Science.gov (United States)

Fitchett, Joseph Robert; Fan Li, Julia; Atun, Rifat

2016-01-01

Innovative financing strategies for global health are urgently needed to reinvigorate investment and new tools for impact. Bottleneck areas along the research and development (R&D) pipeline require particular attention, such as the transitions from preclinical discovery to clinical study, and product development to implementation and delivery. Successful organizations mobilizing and disbursing resources through innovating financing mechanisms include UNITAID, the Global Fund, and Gavi, the Vaccine Alliance. Although precise numbers are poorly documented, estimated investment in low-income settings falls seriously short of local need. This commentary discusses the newly established Global Health Investment Fund as a case study to support late-stage global health R&D. © The Author 2015. 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.

Expanding Post-Harvest Finance Through Warehouse Receipts and Related Instruments

OpenAIRE

Baldwin, Marisa; Bryla, Erin; Langenbucher, Anja

2006-01-01

Warehouse receipt financing and similar types of collateralized lending provide an alternative to traditional lending requirements of banks and other financiers and could provide opportunities to expand this lending in emerging economies for agricultural trade. The main contents include: what is warehouse receipt financing; what is the value of warehouse receipt financing; other collater...

Access to finance from different finance provider types: Farmer knowledge of the requirements

OpenAIRE

Wulandari, Eliana; Meuwissen, Miranda P. M.; Karmana, Maman H.; Oude Lansink, Alfons G. J. M.

2017-01-01

Analysing farmer knowledge of the requirements of finance providers can provide valuable insights to policy makers about ways to improve farmers' access to finance. This study compares farmer knowledge of the requirements to obtain finance with the actual requirements set by different finance provider types, and investigates the relation between demographic and socioeconomic factors and farmer knowledge of finance requirements. We use a structured questionnaire to collect data from a sample o...

Present and future nuclear power financing schemes

International Nuclear Information System (INIS)

Diel, R.

1977-01-01

The financial requirement for nuclear power plants in the Federal Republic of Germany for the period up until 1985 was estimated to run up to some DM 100 billion already in the Nuclear Energy Study published by the Dresdner Bank in 1974. This figure is not changed in any way by the reduction the nuclear power program has suffered in the meantime, because the lower requirement for investment capital is more than offset by the price increases that have occurred meanwhile. A capital requirement in the order of DM 100 billion raises major problems for the power producing industry and the banks which, however, are not going to hamper the further expansion of nuclear power, because new financing schemes have been specially developed for the nuclear field. They include financing by leasing, the use of funds from real estate credit institutions for long term financing, borrowing of long term funds in the Euro market, and financing through subsidiaries of the utilities. The new financing schemes also apply to the large financial requirement associated with the nuclear fuel cycle, waste management in particular. In this sector the utilities agree to bear the economic risk of the companies implementing the respective projects. Accordingly, financing will not entail any major difficulties. Another area of great importance is export financing. The German-Brazilian nuclear agreement is a model of this instrument. (orig.) [de

Financing Investment

DEFF Research Database (Denmark)

Hirth, Stefan; Flor, Christian Riis

Intuition suggests that corporate investment should be decreasing in financing constraints. We show that even when financing is obtained using a standard debt contract and there is symmetric information between the firm and outside investors, the relation is actually U-shaped. We thus provide a new...... theoretical explanation for the recent empirical findings of Cleary et al. (2007). We split up the endogenously implied financing costs and propose a trade-off between expected liquidation costs and second-best investment costs. For rather unconstrained firms, the risk of costly liquidation dominates the cost...

THE FINANCING PLAN – TOOL FOR ANALYZING LONG TERM DEVELOPMENT PROGRAMS WITHIN ECONOMIC ENTITIES

Directory of Open Access Journals (Sweden)

MARIANA ZAMFIR

2017-12-01

Full Text Available The financing plan is a predictive financial situation that allows the study and analysis of the effects of medium and long term projects on the treasury situation. The preparation of the financing plan is preceded by a procedure for selecting a cost-effective investment project from several possible projects. Understanding the concept of a financing plan is the first issue to be addressed. Then it is analyzed its structure outlining the main categories of resources and uses that need to be highlighted for the preparation of the financing plan; the steps necessary for its development are described, the research ending with the presentation of a case study on the preparation of a financing plan for a company. The research results can be used by any investor to analyze the impact of the investments he wishes to make on the company’s treasury and to decide on the sources of their funding.

Osobní a rodinné finance - finance vysokoškolského studenta

OpenAIRE

Palicová, Helena

2014-01-01

In this thesis, Personal and family finances, subtitled Finances of university student. It is discussed on the way to a happier life through management of personal finances. Just as it is necessary to control corporate finance, it is necessary everyone managed own personal finances. It is indicated as appropriate to tackle your finances,what to focus on, and it's practically demonstrated on the example of a university student. There are analyzed his goals and needs, then it is outlined possib...

Conference reports: Innovative financing options in the petroleum industry

International Nuclear Information System (INIS)

1998-01-01

Financing oil and natural gas ventures was the principal theme of this conference. Individual topics included private placements, flow-through shares, strategies and tactics in structuring equity offerings, the use of income trusts as a vehicle for monetizing pipeline assets, strategies for accessing the U.S. equity market, project financing, and royalty financing. In some cases only viewgraphs and figures have been made available. Biographical notes on contributors also have been provided

Improving Finance for Qatari Education Reform. Research Brief

Science.gov (United States)

Guarino, Cassandra M.; Galama, Titus; Constant, Louay; Gonzalez, Gabriella; Tanner, Jeffery C.; Goldman, Charles A.

2009-01-01

Qatar's education reform, which included implementation of a new finance system, appears to be providing schools with adequate funding but is still struggling with issues of transparency and swift policy shifts that have been difficult to accommodate. [For full report, "Developing a School Finance System for K-12 Reform in Qatar", see…

Financing the Business. Unit 11. Level 1. Instructor Guide. PACE: Program for Acquiring Competence in Entrepreneurship. Third Edition. Research & Development Series No. 301-11.

Science.gov (United States)

Ohio State Univ., Columbus. Center on Education and Training for Employment.

This instructor guide for a unit on business financing in the PACE (Program for Acquiring Competence in Entrepreneurship) curriculum includes the full text of the student module and lesson plans, instructional suggestions, and other teacher resources. The competencies that are incorporated into this module are at Level 1 of learning--understanding…

Analysis of the main sources of investments financing in real estate

Directory of Open Access Journals (Sweden)

Ylldeze Sokoli

2016-03-01

Full Text Available The development of the construction industry is an important sector and the special contribution to the gross domestic product and as such should be subject to study, because the performance of the fund financing the construction production is closely linked to the performance of GDP, but also the role of this sector in generating economic growth. Even in our country’s construction sector, as one of the leading sectors of the economy has affected the growth trend of the Albanian economy. Many developing economies have shown that credit markets and remittances are the main source of financing long-term investments in construction. Increased investment in the real estate market includes free financial resources and other populations, but the development and expansion of this sector has led to the reduction of unemployment in the country. In periods of economic growth, coupled with the growth of personal income, people seek to improve their living conditions and seek to take credit for use to purchase real estate. The role of the banking system in financing for investments in the real estate market is very important. The purpose of this paper is to identify what are the factors affecting the financing of investments in the construction sector, and to analyze the important relationships between them and the financing of investments in real estate. The methodology used in the paper is based on foreign literature, materials and works of local and foreign authors. The data were taken from the reports of Bank of Albania’s Institute of Statistics, World Bank and others. Linear Regression model is built referring OLS method, to determine the factors affecting the financing of investments in the real estate market. The results of this study can be used by relevant institutions and central governmental institutions for the formulation of policies and strategies for the development of this industry, as well as the stakeholders of this sector (businesses

The Determinants of Debt Financing

OpenAIRE

Zhao, Chenkai

2013-01-01

Debt financing is an important part in capital structure. Over the fifty years, most scholars and researchers focus primarily on the balance between debt financing and equity financing. And only few research involve in types of debt financing, as well as the determinant of debt financing. This study is aim to analyse the determinate of debt financing, which examine that the influence by eight different elements. This dissertation examined by quantitative techniques with 591 UK listed comp...

Solar village in Malaysia – a route map for financing mechanism

OpenAIRE

Ahmad, Azfahani; Byrd, Hugh; Wahab, Suriana; Ghani, Aida

2016-01-01

Abstract. Malaysia’s development has been largely financed from its fossil fuels resources that come principally from the South China Sea. This has enabled electricity to be distributed equitably throughout society and improved the quality of life for people in Malaysia. However, the depletion of fossil fuel resources and the international conflict over South China Sea territorial ownership may leads to inadequacy of supply in the future, and may give direct impact to people in the rural area...

FINANCING ACTIVITIES OF MODERN UNIVERSITIES - APPROACHES, CHALLENGES, PROBLEMS

OpenAIRE

BOJINOV B.V.

2017-01-01

The article examined the main approaches to the funding of universities and possible mechanisms for their subsequent efficient financial management. The main sources of funding for modern universities, are usually a mix of state funding other targeted grants, tuition fees and revenues from economic activity. The declining targeted budgetary resources for the financing of universities, and linking it to performance (quality, rating realization), forcing universities to seek alternative sources...

Aspects of Development Financing After the Financial and Economic Crisis

Directory of Open Access Journals (Sweden)

Bruno Gurtner

2011-05-01

Full Text Available Published by Palgrave MacmillanThe financial and economic crisis saw developing and emerging countries experience more severe setbacks in their growth rates than industrialised countries and they did not all have sufficient funds to finance robust stimulus measures. The major emerging economies have nevertheless recovered quickly and are currently the most important growth engines in the world economy.Private capital flows collapsed, leaving the global South with an overall deficit in financing. Greater official financing flows have not yet been able to compensate for the shortfalls and the slow increase in private capital flows since the end of 2009 has not been able to do so either. Overall, according to the UN, more capital flows from the South to the North than vice versa. The South thus continues to finance the North.Discussions regarding a reform of the global financial and economic order are ongoing but to date have had little impact on developing countries. The international financing institutions do have more funds at their disposal, but developing countries are still under-represented. The IMF and the World Bank have begun to question some of their previous dogmas. Opinions are divided on whether one can already speak of a new policy.The debate on the role of taxation in the mobilisation of local resources for development financing has intensified. Insight favouring comprehensive reforms of the taxation systems in developing countries has sharpened, but technical aid provided by industrialised countries to realise these reforms is still insufficient. Taxation is acquiring growing recognition as an instrument of State-building, democratisation and governance. The campaign to deal with international tax evasion and illicit capital flows is gaining momentum and the exchange of information on tax issues has improved. However, it is difficult to establish newer and more trenchant instruments for improved transparency, given the predominant

Algorithmic Finance and (Limits to) Governmentality

DEFF Research Database (Denmark)

Borch, Christian

2017-01-01

-frequency trading, such as how algorithms are designed to govern other market participants' anticipations of market dynamics. However, I also argue that, to fully understand the realm of algorithmic finance and high-frequency trading, it is important to supplement a governmentality approach with an analytical......In this essay I discuss algorithmic finance, specifically the use of fully automated trading, including high-frequency trading, in the light of Michel Foucault's notion of governmentality. I argue that a governmentality perspective offers a fruitful way of understanding particular aspects of high...... lexicon which is not primarily centred on productive forms of power. Specifically, I suggest that, according to media discourses on high-frequency trading, algorithmic finance often works in ways that are better grasped through, e.g. Elias Canetti's work on predatory power and Roger Caillois's work...

Algorithmic Finance and (Limits to) Governmentality

DEFF Research Database (Denmark)

Borch, Christian

2017-01-01

In this essay I discuss algorithmic finance, specifically the use of fully automated trading, including high-frequency trading, in the light of Michel Foucault's notion of governmentality. I argue that a governmentality perspective offers a fruitful way of understanding particular aspects of high......-frequency trading, such as how algorithms are designed to govern other market participants' anticipations of market dynamics. However, I also argue that, to fully understand the realm of algorithmic finance and high-frequency trading, it is important to supplement a governmentality approach with an analytical...... lexicon which is not primarily centred on productive forms of power. Specifically, I suggest that, according to media discourses on high-frequency trading, algorithmic finance often works in ways that are better grasped through, e.g. Elias Canetti's work on predatory power and Roger Caillois's work...

Moving beyond LCOE: impact of various financing methods on PV profitability for SIDS

International Nuclear Information System (INIS)

Tao, Jacqueline Yujia; Finenko, Anton

2016-01-01

Small island developing states (SIDS) have some of the highest electricity tariffs globally. Renewable energy (RE) technologies could thus have reached grid parity in various SIDS. Furthermore, the abundance of resources such as solar and wind provides ample potential for SIDS to switch from high cost diesel generators to renewables. Despite favourable conditions, RE remains a largely underinvested sector in these regions. This paper aims to undercover the reasons why grid parity does not necessary translate into private sector investments in RE. With a focus on SIDS, this paper presents an evidence that achieving grid parity based on LCOE estimates is an incomplete benchmark for decision making in the power generation industry. In particular, LCOE and grid parity do not take into account financing constraints of RE projects which are often more pronounced compared to conventional forms of power generation. This paper thus presents the business perspective of RE projects, by employing a discounted cashflow model that includes various profitability metrics and effects of taxation and depreciation. The study shows that financing conditions exert strong influence on the economic feasibility of solar projects, both in LCOE terms and profitability terms. Thus, key policies should be targeted at improving financing conditions to ensure mobilization of private sector finances in solar PV. - Highlights: • LCOE estimates do not accurately represent financial viability for project developers • Access to low cost financing is critical for solar proliferation in SIDS • Fluctuations in electricity tariffs is the main source of risk for solar PV developers in SIDS, which could be mitigated by PPA arrangements • Access to grid, high corporate tax rates, and lack of information transparency are key barriers for solar PV developers

Financing a nuclear programme

International Nuclear Information System (INIS)

Cameron, R.

2010-10-01

Nuclear power plant construction projects have many characteristics in common with other types of large infrastructure investment, both within the power generation sector and elsewhere. However, nuclear power itself has special features that can make nuclear financing particularly challenging. These features include the high capital cost, the relatively long period required to recoup investments, the often controversial nature of nuclear projects. The need for clear solutions and financing schemes for radioactive waste management and decommissioning and the need for nuclear power plants to operate at high capacity factors, preferably under base load conditions. During the previous major expansion of nuclear power in the 1970 and 1980, many nuclear projects suffered very large construction delays and cost overruns. The legacy of such problems increases the risks perceived by potential investors. A recent study undertaken jointly by the Iea and the Nea showed that the competitiveness of nuclear power strongly depends on the cost of financing due to the high share of fixed capital costs in the total lifetime costs of nuclear power. A key issue in this context is the long-term predictability of carbon pricing arrangements, which, for the time being and despite positive evolutions in this respect, most notably in Europe, does not yet exist. This paper will consider how the risks can be mitigated and examine in detail various models for corporate finance and the role of government assistance in providing a suitable financial basis. (Author)

Health care entrepreneurship: financing innovation.

Science.gov (United States)

Grazier, Kyle L; Metzler, Bridget

2006-01-01

Entrepreneurship is often described as the ability to create new ventures from new or existing concepts, ideas and visions. There has been significant entrepreneurial response to the changes in the scientific and social underpinnings of health care services delivery. However, a growing portion of the economic development driving health care industry expansion is threatened further by longstanding use of financing models that are suboptimal for health care ventures. The delayed pace of entrepreneurial activity in this industry is in part a response to the general economy and markets, but also due to the lack of capital for new health care ventures. The recent dearth of entrepreneurial activities in the health services sector may also due to failure to consider new approaches to partnerships and strategic ventures, despite their mutually beneficial organizational and financing potential. As capital becomes more scarce for innovators, it is imperative that those with new and creative ideas for health and health care improvement consider techniques for capital acquisition that have been successful in other industries and at similar stages of development. The capital and added expertise can allow entrepreneurs to leverage resources, dampen business fluctuations, and strengthen long term prospects.

The Economics of Islamic Finance and Securitization

OpenAIRE

Andreas Jobst

2007-01-01

Islamic lending transactions are governed by the precepts of the shariah, which bans interest and stipulates that income must be derived as return from entrepreneurial investment. Since Islamic finance is predicated on asset backing and specific credit participation in identified business risk, structuring shariah-compliant securitization seems straightforward. This paper explains the fundamental legal principles of Islamic finance, which includes the presentation of a valuation model that he...

Behavioural Finance and Its Postulates

Directory of Open Access Journals (Sweden)

Milena Vučinić

2016-05-01

Full Text Available The reasons for dealing with the chosen topic can be found in the fact that there is a certain number of anomalies, system errors and conduct leaving the frames of rational behaviour, not being included and presented synthetically within a concise scientific work. Instead, the analysis deals with definite, already identified postulates of behavioural economics and finance. During the research, induction, deduction, comparative and abstraction methods are used. The challenge of the research lies in the identification of those system errors, partialities and behaviours deviating from postulates of rational, typical for classical finance, not being covered by standard behavioural, economic and finance literature. However, the challenge is even bigger because of the fact that it deals with answers to demands of universality and conciseness. Its greatest importance is reflected in the extent of identified and processed anomalies decision makers face, as well as in the identification and description of factors implying absence of rationality during the decision making process.

Plugging the Energy Efficiency Gap with Climate Finance

Energy Technology Data Exchange (ETDEWEB)

NONE

2012-07-01

The role of International Financial Institutions (IFIs) and the Green Climate Fund to realise the potential of energy efficiency in developing countries. This report examines the current role of climate finance in funding EE projects and the potential to channel funds to relevant EE projects in developing countries under the new Green Climate Fund (GCF). The objectives of the report are to examine: 1) the share of climate finance currently being channelled to energy efficiency measures, and 2) how the design of climate finance can better facilitate energy efficiency projects. Improving energy efficiency (EE) can deliver a range of benefits such as improved air quality, enhanced economic competitiveness and, at the national scale, a higher degree of energy security. Significant improvements in energy efficiency in developing countries could provide greater opportunity for economic growth while also providing broader access to energy and related services even from limited energy resources. However, several barriers limit the scaling-up of funding of EE projects in developing countries (some are common also to developed countries). The report focuses primarily on public climate finance flows from 'north' to 'south', probing the current use of funds from multi-lateral development banks (MDBs), bi-lateral financial institutions (BFIs) and carbon markets for energy efficiency projects and the design of the future climate financial mechanisms such as the Green Climate Fund to encourage energy efficiency improvements in developing countries.

Financing the Business. Unit 11. Level 3. Instructor Guide. PACE: Program for Acquiring Competence in Entrepreneurship. Third Edition. Research & Development Series No. 303-11.

Science.gov (United States)

Ohio State Univ., Columbus. Center on Education and Training for Employment.

This instructor guide for a unit on business finance in the PACE (Program for Acquiring Competence in Entrepreneurship) curriculum includes the full text of the student module and lesson plans, instructional suggestions, and other teacher resources. The competencies that are incorporated into this module are at Level 3 of learning--starting and…

Equity and financing for sexual and reproductive health service delivery: current innovations.

Science.gov (United States)

Montagu, Dominic; Graff, Maura

2009-07-01

National and international decisions on financing for sexual and reproductive health (SRH) services have profound effects on the type, unit costs and distribution of SRH commodities and services produced, and on their availability and consumption. Much international and national funding is politically driven and is doing little for equity and quality improvement. Financing remains a significant challenge in most developing countries and demands creative responses. While no "one-size-fits-all" solution exists, there are numerous ongoing examples of successful innovations, many of which are focusing on resource pooling and on purchasing or subsidising SRH services. In this article we have used interviews, grey literature and presentations made at a range of recent public fora to identify new and innovative ways of financing SRH services so as to increase equity in developing countries. Because SRH services are often of low value as a personal good but high value as a public good, we summarise the issues from a societal perspective, highlighting the importance of financing and policy decisions for SRH services. We provide a structured overview of what novel approaches to financing appear to have positive effects in a range of developing countries. Targeting, government payment mechanisms, subsidy delivery and co-financing for sustainability are highlighted as showing particular promise. Examples are used throughout the article to illustrate innovative strategies.

POST BEHAVIORAL FINANCE ADOLESCENCE

Directory of Open Access Journals (Sweden)

ADRIAN MITROI

2016-12-01

Full Text Available The study of behavioral finance combines the investigation and expertise from research and practice into smart portfolios of individual investors’ portfolios. Understanding cognitive errors and misleading emotions drive investors to their long-term goals of financial prosperity and capital preservation. 10 years ago, Behavioral Finance was still considered an incipient, adolescent science. First Nobel Prize in Economics awarded to the study of Behavioral Economics in 2002 established the field as a new, respected study of economics. 2013 Nobel Prize was awarded to three economists, one of them considered the one of the founders of the Behavioral Finance. As such, by now we are entering the coming of age of behavioral finance. It is now recognized as a science of understanding investors behaviors and their biased patterns. It applies quantitative finance and provides practical models grounded on robust understanding of investors behavior toward financial risk. Financial Personality influences investment decisions. Behavioral portfolio construction methods combine classic finance with rigorously quantified psychological metrics and improves models for financial advice to enhance investors chances in reaching their lifetime financial goals. Behavioral finance helps understanding psychological profile dissimilarities of individuals and how these differences manifest in investment decision process. This new science has become now a must topic in modern finance.

Annual report 1993-94 (Nova Scotia Resources Ltd., Halifax)

Energy Technology Data Exchange (ETDEWEB)

NONE

1994-12-31

This Corporation is a provincial Crown corporation under the responsibility of the Minister of Mines and Energy. Established in 1981, the Corporation invests in and manages the Province`s participation in petroleum, energy and mineral resources development and related industrial projects. This annual report presents a description of the Cohasset project, offshore exploration, gas generating properties, natural gas, and finance. An auditor`s report and financial statements are included. A list of the Board of Directors, and principal officers is included.

12 CFR 987.7 - Liability of Banks, Finance Board, Office of Finance and Federal Reserve Banks.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Liability of Banks, Finance Board, Office of Finance and Federal Reserve Banks. 987.7 Section 987.7 Banks and Banking FEDERAL HOUSING FINANCE BOARD OFFICE OF FINANCE BOOK-ENTRY PROCEDURE FOR CONSOLIDATED OBLIGATIONS § 987.7 Liability of Banks, Finance Board, Office of Finance and Federal Reserve...

Financing patterns around the world : Are small firms different?

NARCIS (Netherlands)

Beck, T.H.L.; Demirgüc-Kunt, A.; Maksimovic, V.

2008-01-01

Using a firm-level survey database covering 48 countries, we investigate how financial and institutional development affects financing of large and small firms. Our database is not limited to large firms, but includes small and medium firms and data on a broad spectrum of financing sources,

An alternative approach to financing development in Africa | Adeolu ...

African Journals Online (AJOL)

To make adequate capital available to finance development projects in Africa, several important and innovative ideas became popular in the early and later post-independent years. Much of these ideas included a proposal for International Finance Facility (IFF) to increase development aid substantially for the millennium ...

Sources of Finance for Entrepreneurship Development

Directory of Open Access Journals (Sweden)

Balaban Mladenka

2016-06-01

Full Text Available Entrepreneurship is one of the most important categories that are now associated with small and medium-sized enterprises, employment and the creation of new jobs and new business category. Entrepreneurial behavior in finance implies a readiness to take risk and a taste for independence and self-fulfillment. It can develop in any sector of the economy and in any type of business. Through entrepreneurship strengthen personal resources - not only the material but also the motives of self-realization, freedom, independence, challenge. Large number of small and medium enterprises provide a huge range of products, and the customers or service users increased choice and lower prices. Considering that entrepreneurship represents the futurethis work is aimed to highlight the role the financial sector plays in its development. The authors suggest that the financial sector has very important role for the development of entrepreneurship, pointing to the different possibilities of cheaper funding development of guidelines for small and medium enterprises, but in other hand in some cases financial sector has negativ impact for growing through expensive sources of financing of development.

The Theory of Finance: A novel finance model being formed on the Internet

OpenAIRE

Magomet Yandiev

2015-01-01

The present paper argues that the present Internet conditions favour an entirely new finance model. Understood to soon supplement the existing ones (classical finance, corporate finance, and Islamic finance), it is argued that the new model will be defined by the destructive effect it is to have on the contemporary financial infrastructure of most countries, and the advent of the ‘future money value exceeds its present one’ principle.

Finance and Management Services

Science.gov (United States)

Substance Misuse and Addiction Prevention Finance & Management Services Health Care Services Juvenile health care provider about vitamin D and the risks and benefits of supplementation. Finance and Management Services The Division of Finance and Management Services (FMS) provides financial, administrative

Project financing renewable energy schemes

International Nuclear Information System (INIS)

Brandler, A.

1993-01-01

The viability of many Renewable Energy projects is critically dependent upon the ability of these projects to secure the necessary financing on acceptable terms. The principal objective of the study was to provide an overview to project developers of project financing techniques and the conditions under which project finance for Renewable Energy schemes could be raised, focussing on the potential sources of finance, the typical project financing structures that could be utilised for Renewable Energy schemes and the risk/return and security requirements of lenders, investors and other potential sources of financing. A second objective is to describe the appropriate strategy and tactics for developers to adopt in approaching the financing markets for such projects. (author)

Project financing knits parts of costly LNG supply chain

International Nuclear Information System (INIS)

Minyard, R.J.; Strode, M.O.

1997-01-01

The supply and distribution infrastructure of an LNG project requires project sponsors and LNG buyers to make large, interdependent capital investments. For a grassroots project, substantial investments may be necessary for each link in the supply chain: field development; liquefaction plant and storage; ports and utilities; ships; receiving terminal and related facilities; and end-user facilities such as power stations or a gas distribution network. The huge sums required for these projects make their finance ability critical to implementation. Lenders have become increasingly comfortable with LNG as a business and now have achieved a better understanding of the risks associated with it. Raising debt financing for many future LNG projects, however, will present new and increasingly difficult challenges. The challenge of financing these projects will be formidable: political instability, economic uncertainty, and local currency volatility will have to be recognized and mitigated. Described here is the evolution of financing LNG projects, including the Rasgas LNG project financing which broke new ground in this area. The challenges that lie ahead for sponsors seeking to finance future projects selling LNG to emerging markets are also discussed. And the views of leading experts from the field of project finance, specifically solicited for this article, address major issues that must be resolved for successful financing of these projects

Perspectives applicable to financing midstreamers: legal considerations

International Nuclear Information System (INIS)

Park, J. J.

2000-01-01

Systemic changes that have affected the sale, distribution and transportation of gas near the burner tip (collectively called 'midstream' activities) are reviewed, examining the causes of change, and the types of midstream asset transactions that are occurring, whether they involve structured financing arrangements or midstream companies. Also addressed are issues involved in transactions of this type, especially as they relate to gathering and processing agreements and construction, ownership and operation (CO and O) agreements. The two principal alternative structures (1) the financing party who does not assume operational control of the facility, and the (2) midstream company who build or acquire assets and operate them, the different implications for financing of each of the structural alternatives and the changing attitudes of producers towards midstream entities are explained. Closer examination of these new business structures reveals that they conflict with the terms and conditions of midstream agreements commonly used throughout the industry. It is recommended that these standard agreements be amended to permit midstream transactions to occur without undue restrictions. The kind of amendments suggested include automatic consent to a transfer of a facility to a Financing Party that meets certain reasonable financial tests; allowing the reconveyance from the Financing Party to the producer under a repurchase option; allowing the producer to act as Operator in place of its Financing Party

Commodities, energy and environmental finance

CERN Document Server

Ludkovski, Michael; Sircar, Ronnie

2015-01-01

This volume is a collection of chapters covering the latest developments in applications of financial mathematics and statistics to topics in energy, commodity financial markets and environmental economics. The research presented is based on the presentations and discussions that took place during the Fields Institute Focus Program on Commodities, Energy and Environmental Finance in August 2013. The authors include applied mathematicians, economists and industry practitioners, providing for a multi-disciplinary spectrum of perspectives on the subject. The volume consists of four sections: Electricity Markets; Real Options; Trading in Commodity Markets; and Oligopolistic Models for Energy Production. Taken together, the chapters give a comprehensive summary of the current state of the art in quantitative analysis of commodities and energy finance. The topics covered include structural models of electricity markets, financialization of commodities, valuation of commodity real options, game-theory analysis of ...

Access to Finance of the Macedonian Companies in the Post-Crisis period

Directory of Open Access Journals (Sweden)

Meri Boshkoska

2016-08-01

Full Text Available In this paper we analyzed the liquidity of the companies, the plans for the future cash flows and questions related to the new law regarding the financial discipline. Main questions addressed here are the number of difficulties related to the sources of financing the current and the developing activities of the companies in Macedonia. The analysis is undertaken by using statistical techniques and models. The results suggest that in the post-crisis period the companies are facing with number of difficulties of providing financial resources for the current and the developing activities where the most significant source of finance are the bank credits. Also, the results suggest that delayed payment of claims, the legislative and the high level of interest rate are the most common factors that restrict the access to finance of the Macedonian companies.

From Finance Capitalism to Financialization

DEFF Research Database (Denmark)

Hansen, Per H.

2014-01-01

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

Performance of Loan Repayment Determinants in Ethiopian Micro Finance - An Analysis

Directory of Open Access Journals (Sweden)

Shaik Abdul Majeeb PASHA

2014-05-01

Full Text Available Micro finance involves the provision of micro-credit, savings, and other services to the poor that are excluded by the commercial banks for collateral and other reasons. Microfinance is relatively new to Ethiopia and came to existence during 1994-95. Out of which Sidama Micro Finance Institution (SMFI is one among 31Micro Finance Institutions (MFIs to serve needy people in Ethiopia. Based on this researchers’ intended to study major socio- economic factors and loan related factors that determines loan repayment performance of borrowers in SMFI. In fact, the identifying and analyzing such determining factors of loan repayment rate is vital in the achievement of profitability and sustainability of MFIs. In this connection, researchers’ collected data from primary and secondary resources and analyzed by using Binary logistic model is used. Through the study 14 determinants’ are selected for evaluation, out of which 9 variables are significant and remaining insignificant are found. Based on the analysis, researchers are recommended that proper training should be provided, reasonable amount of loan which should be useful to their business. Further, more age people and well business experience people can able to repay their loan amount` timely to micro finance institution.

Private sector finance for adaptation

NARCIS (Netherlands)

Atteridge, A.; Pauw, W.P.; Terpstra, P.; Bedini, F.; Bosi, L; Costella, C.

2016-01-01

An emphasis on private finance has emerged in climate finance discussions, particularly in the context of international climate change negotiations. This is partly because the overall volume of finance needed to support adaptation in developing countries is beyond what many expect public finance to

Financing energy projects in Africa

International Nuclear Information System (INIS)

Godier, Kevin; Marks, Jon

1999-12-01

Contains Executive Summary and Chapters on: Overview of financing trends in Africa; Multilateral support - Bedrock of Africa's first generation energy projects; ECA insurance and financing; Bilateral development finance; Offshore commercial bank lending; Local commercial bank finance; Capital markets; Legal ramifications ; Risk factors; Conclusions. (Author)

Quantitative Finance

Science.gov (United States)

James, Jessica

2017-01-01

Quantitative finance is a field that has risen to prominence over the last few decades. It encompasses the complex models and calculations that value financial contracts, particularly those which reference events in the future, and apply probabilities to these events. While adding greatly to the flexibility of the market available to corporations and investors, it has also been blamed for worsening the impact of financial crises. But what exactly does quantitative finance encompass, and where did these ideas and models originate? We show that the mathematics behind finance and behind games of chance have tracked each other closely over the centuries and that many well-known physicists and mathematicians have contributed to the field.

A REVIEW OF FINANCE–GROWTH NEXUS THEORIES: HOW DOES DEVELOPMENT FINANCE FITS IN?

OpenAIRE

MARWA Nyankomo; ZHANJE Stephen

2015-01-01

The finance growth-nexus debates have been contentious over the past three decades both empirically and theoretically. To contribute to this debate, the current paper presents a concise review of finance-growths nexus theoretical development and the current debate around growth-finance nexus theories. Then, it extends the current theoretical debate to include development finance within the broader scheme of finance-growth discourse. The key emerging trend is that, most of the contemporary the...

The Financing of Vocational Education and Training in France. Financing Portrait. CEDEFOP Panorama.

Science.gov (United States)

Michelet, Valerie

This report examines the financing of the two components of France's vocational education and training (VET) system. They are initial vocational training (IVT), which includes upper secondary and short forms of higher education, and continuing vocational training (CVT), which aims to help workers adapt to changes in working techniques and…

Energy finance to 2010: risks and opportunities for the industry and investors

International Nuclear Information System (INIS)

Nawaz, Sameer.

1997-01-01

Energy Finance to 2010, published by the Financial Times, covers all aspects of world wide energy finance. Topics reviewed in detail include an introduction to energy finance, energy infrastructure, private sector involvement, risk and precautions, the role of multilateral agencies, company investment strategies, and future trends and issues. (UK)

The role of Project Finance in the viability of infrastructure projects: case of the petroleum and natural gas sector

International Nuclear Information System (INIS)

Faria, Viviana Cardoso de Sa e; Rodrigues, Adriano Pires

2000-01-01

Project finance represents neither recent news nor a panacea in the fields of long term financing. It is not able to solve the chronicle scarcity of resources applied in big projects financing in developing countries. In fact, underdeveloped markets as the Brazilian one offer, at the beginning, almost no chances to the project finance solution. In this case a path full of barriers overcome the solutions that project finance may offer. The process to adapt this instrument to the Brazilian reality presents the following hindrances: a different law framework, capital market underdevelopment; economical instability; political and regulating risks; incapability of the national insurance companies to insure big projects; cultural differences and lack of know-how in this area, and lastly, the out of date tax system. (author)

Project finance of hydroelectric power plants in Brazil; 'Project finance' de usinas hidroeletricas no Brasil

Energy Technology Data Exchange (ETDEWEB)

Ribeiro Filho, Valfredo de Assis; Ramos, Maria Olivia de Souza [Universidade Salvador (UNIFACS), BA (Brazil)

2008-07-01

The aim of this paper is to discuss the modality of project finance of financing of enterprises, which is the main modality of structuring of hydroelectric projects in Brazil. In the discussion will be highlighted the importance of contracts EPC (Engineering, Search and Construction) in the structuring of project finances. This financing model has particular characteristics related to risk sharing and financial flexibility that enable the financing of projects with long-term capital, however, due to participation of various actors and the nature of the structure of project finance, the negotiation and drafting of contracts are always very complex.

Essays in household finance

NARCIS (Netherlands)

Djordjevic, Ljubica

2015-01-01

Household finance is a young and vibrant research field that continuously attracts public attention. There may be very few matters that people care so much about as their personal finance. Recent rise of academic interest in household finance is to a great extent due to households’ more active role

Finance

OpenAIRE

2011-01-01

Ces deux ouvrages tirent les enseignements de l’impact de la crise de la finance mondiale sur l’économie réelle et se focalisent, dans ce contexte, sur le financement du Mittelstand. Le banquier JASCHINSKI, lorsqu’il passe en revue le système bancaire allemand, constate ainsi que si les moyennes entreprises trouvent les crédits nécessaires auprès de leurs solides partenaires de toujours que sont les Sparkassen, les grandes sociétés, internationales, que compte le Mittelstand n’ont pas de part...

Wind Energy Finance in the United States: Current Practice and Opportunities

Energy Technology Data Exchange (ETDEWEB)

Schwabe, Paul D. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Feldman, David J. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Settle, Donald E. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Fields, Jason [National Renewable Energy Lab. (NREL), Golden, CO (United States)

2017-08-08

In the United States, investment in wind energy has averaged nearly $13.6 billion annually since 2006 with more than $140 billion invested cumulatively over that period (BNEF 2017). This sizable investment activity demonstrates the persistent appeal of wind energy and its increasing role in the U.S electricity generation portfolio. Despite its steady investment levels over the last decade, some investors still consider wind energy as a specialized asset class. Limited familiarity with the asset class both limit the pool of potential investors and drive up costs for investors. This publication provides an overview of the wind project development process, capital sources and financing structures commonly used, and traditional and emerging procurement methods. It also provides a high-level demonstration of how financing rates impact a project's all-in cost of energy. The goal of the publication is to provide a representative and wide-ranging resource for the wind development and financing processes.

Financing Canadian international operations

International Nuclear Information System (INIS)

Beagle, G.

1996-01-01

A primer on financing international operations by Canadian corporations was provided. Factors affecting the availability to project finance (location, political risk), the various forms of financing (debt, equity, and combinations), the main sources of government backed financing to corporations (the International Finance Corporation) (IFC), the European Bank for Reconstruction and Development (EBRD), the Asian Development Bank (ADB), the Overseas Property Insurance Corporation (OPIC), government or agency guarantees, political risk coverage, the use of offshore financial centres, and the where, when and how these various organizations operate, were reviewed. Examples of all of the above, taken from the experiences of Canadian Occidental Petroleum of Calgary in the U.S., in South America, in the Middle and Far East, and in Kazakhstan, were used as illustrations. figs

7 CFR 1710.109 - Reimbursement of general funds and interim financing.

Science.gov (United States)

2010-01-01

... LOANS AND GUARANTEES Loan Purposes and Basic Policies § 1710.109 Reimbursement of general funds and... replace interim financing used to finance equipment and facilities that were included in an RUS-approved...

Developing a School Finance System for K-12 Reform in Qatar

Science.gov (United States)

Guarino, Cassandra M.; Galama, Titus; Constant, Louay; Gonzalez, Gabriella; Tanner, Jeffery C.; Goldman, Charles A.

2009-01-01

Reform-minded leaders of Qatar, who have embarked on a sweeping reform of their nation's education system, asked RAND to evaluate the education finance system that has been adopted and to offer suggestions for improvements. The authors analyze the system's evolution and resource allocation patterns between 2004 and 2006 and develop analytic tools…

24 CFR 883.307 - Financing.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Financing. 883.307 Section 883.307... § 883.307 Financing. (a) Types of financing. A State Agency that used the Fast Track Procedures formerly in this part must provide permanent financing for any new construction or substantial rehabilitation...

Financing of renewable energy from biomass in the Central and Eastern Europe

International Nuclear Information System (INIS)

Vajda, P.

2004-01-01

In this paper author presents activities of International Finance Corporation in the field of renewable energy. Author is focused on a description of one of last program called 'Commercializing Energy Efficiency Finance' (CEEF) than to cover all available related products or programs. The CEEF program represents an innovative approach leading to sustainable financing of EE projects including RE biomass projects. Financing of some EE projects in the Central and Eastern Europe is described

Exploring Higher Education Financing Options

Science.gov (United States)

Nkrumah-Young, Kofi K.; Powell, Philip

2011-01-01

Higher education can be financed privately, financed by governments, or shared. Given that the benefits of education accrue to the individual and the state, many governments opt for shared financing. This article examines the underpinnings of different options for financing higher education and develops a model to compare conditions to choices and…

Three essays in pension finance

NARCIS (Netherlands)

Shi, Z.

2009-01-01

This thesis focuses on the three major participants in pension finance, namely, pension funds, individuals, and sponsoring companies. In the light of the fragile financial market performance, prudential regulatory rules, including Value-at-Risk (VaR) constraints, are imposed widely all over the

Study of Export Trade Financing in India with Particular Reference to Commercial Banks: Problems and Prospects

OpenAIRE

Sen Gupta, A. K.; Keshari, Pradeep Kumar

2013-01-01

Exports are instrumental in the development of an economy, particularly developing nations. The Indian Financial System, through commercial bank offer financial resources for promoting exports by providing both pre and post shipment finances. LERMS and Full –convertibility on trade account of Indian rupee have provided importers to export financing, so also the New Trade Policy, provides a Favourable climate for exports. The present paper spells out the role and share of commercial banks ...

24 CFR 882.405 - Financing.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Financing. 882.405 Section 882.405... § 882.405 Financing. (a) Types. Any type of public or private financing may be utilized with the... Contract as security for financing. An Owner may pledge, or offer as security for any loan or obligation...

7 CFR 4290.730 - Financings which constitute conflicts of interest.

Science.gov (United States)

2010-01-01

... INVESTMENT COMPANY (âRBICâ) PROGRAM Financing of Enterprises by RBICs Determining Eligibility of An... that RBIC or any other RBIC (including Financing or Commitments received under any understanding... influencing your action with respect to such Assistance. (c) Applicability of other laws. You are also bound...

SUSTAINABLE MANAGEMENT OF NATURAL RESOURCES FOR ...

African Journals Online (AJOL)

economic effects which the location of natural resources has on host ... water bodies in an oil exploration and exploitation communities in Oguta local .... law, energy, atmosphere, sustainable tourism, biodiversity, biotechnology, finance,.

School Finance Reform: A Weighted Pupil Formula for California. Report 1

Science.gov (United States)

Perry, Mary

2012-01-01

Governor Jerry Brown has called for a major overhaul of California's school finance policies. His proposal for a weighted pupil funding system would simplify the rules that govern the distribution of funds to schools and school districts, while targeting a larger share of available resources to the schools and students with the greatest needs. In…

Impact of School Finance Reform on Resource Equalization and Academic Performance: Evidence from Michigan

Science.gov (United States)

Roy, Joydeep

2011-01-01

Michigan radically altered its school finance system in 1994. The new plan, called Proposal A, significantly increased state aid to the lowest-spending school districts and limited future increases in spending in the highest-spending ones, abolishing local discretion over school spending. I investigate the impact of Proposal A on the distribution…

Evidence on equity, governance and financing after health care reform in Mexico: lessons for Latin American countries

Directory of Open Access Journals (Sweden)

Armando Arredondo

2015-06-01

Full Text Available This article includes evidence on equity, governance and health financing outcomes of the Mexican health system. An evaluative research with a cross-sectional design was oriented towards the qualitative and quantitative analysis of financing, governance and equity indicators. Taking into account feasibility, as well as political and technical criteria, seven Mexican states were selected as study populations and an evaluative research was conducted during 2002-2010. The data collection techniques were based on in-depth interviews with key personnel (providers, users and community leaders, consensus technique and document analysis. The qualitative analysis was done with ATLAS TI and POLICY MAKER softwares. The Mexican health system reform has modified dependence at the central level; there is a new equity equation for resources allocation, community leaders and users of services reported the need to improve an effective accountability system at both municipal and state levels. Strategies for equity, governance and financing do not have adequate mechanisms to promote participation from all social actors. Improving this situation is a very important goal in the Mexican health democratization process, in the context of health care reform. Inequality on resources allocation in some regions and catastrophic expenditure for users is unequal in all states, producing more negative effects on states with high social marginalization. Special emphasis is placed on the analysis of the main strengths and weaknesses, as relevant evidences for other Latin American countries which are designing, implementing and evaluating reform strategies in order to achieve equity, good governance and a greater financial protection in health.

The international Finance Corporation and financing of sustainable energy

International Nuclear Information System (INIS)

Younger, D.R.

1999-01-01

The International Finance Corporation (IFC), a member of the World Bank Group, is the largest multilateral source of loan and equity financing for private sector projects in the developing world. IFC participates in an investment only when it can make a special contribution that complements the role of market operators. Since its founding 40 years ago, IFC has provided more than $18.8 billion in financing for 1,706 companies in developing countries. Its share capital is provided by its 170 member countries, which collectively determine its policies and activities. Strong shareholder support and a substantial paid-in capital base have allowed IFC to raise funds for its lending activities through its triple-A rated bond issues in international financial markets. (orig.)

An economic theory of Islamic finance

Directory of Open Access Journals (Sweden)

Mabid Ali Al-Jarhi

2017-07-01

Full Text Available Purpose - This paper aims to provide an economic rationale for Islamic finance. Design/methodology/approach - Its methodology is simple. It starts with listing the contributions to economic analysis relevant to the required rationale in the theories of banking, finance, price, money and macroeconomics, to identify the main rationale for Islamic finance. A concise description of the author’s model for an Islamic economic system, within which Islamic finance can be operational, is provided. Findings - The paper finds distinct advantages of Islamic finance, when properly applied within the author’s model. Islamic finance can therefore be a candidate as a reform agenda for conventional finance. It opens the door for significant monetary reform in currently prevalent economic systems. Research limitations/implications - The first limitation of the paper is that the distinct benefits of Islamic finance are all of macroeconomic types which are external to Islamic banking and finance institutions. They are therefore not expected to motivate such institutions to apply Islamic finance to the letter, without regulators interference to ensure strict application. The second limitation is the necessity to set up enabling institutional and regulatory arrangements for Islamic finance. Originality/value - The results are unique as they challenge the received doctrine and provide non-religious rationale for Islamic finance.

Statistics for Finance

DEFF Research Database (Denmark)

Lindström, Erik; Madsen, Henrik; Nielsen, Jan Nygaard

Statistics for Finance develops students’ professional skills in statistics with applications in finance. Developed from the authors’ courses at the Technical University of Denmark and Lund University, the text bridges the gap between classical, rigorous treatments of financial mathematics...

Equity in Health Care Financing in Low- and Middle-Income Countries: A Systematic Review of Evidence from Studies Using Benefit and Financing Incidence Analyses.

Science.gov (United States)

Asante, Augustine; Price, Jennifer; Hayen, Andrew; Jan, Stephen; Wiseman, Virginia

2016-01-01

Health financing reforms in low- and middle- income countries (LMICs) over the past decades have focused on achieving equity in financing of health care delivery through universal health coverage. Benefit and financing incidence analyses are two analytical methods for comprehensively evaluating how well health systems perform on these objectives. This systematic review assesses progress towards equity in health care financing in LMICs through the use of BIA and FIA. Key electronic databases including Medline, Embase, Scopus, Global Health, CinAHL, EconLit and Business Source Premier were searched. We also searched the grey literature, specifically websites of leading organizations supporting health care in LMICs. Only studies using benefit incidence analysis (BIA) and/or financing incidence analysis (FIA) as explicit methodology were included. A total of 512 records were obtained from the various sources. The full texts of 87 references were assessed against the selection criteria and 24 were judged appropriate for inclusion. Twelve of the 24 studies originated from sub-Saharan Africa, nine from the Asia-Pacific region, two from Latin America and one from the Middle East. The evidence points to a pro-rich distribution of total health care benefits and progressive financing in both sub-Saharan Africa and Asia-Pacific. In the majority of cases, the distribution of benefits at the primary health care level favoured the poor while hospital level services benefit the better-off. A few Asian countries, namely Thailand, Malaysia and Sri Lanka, maintained a pro-poor distribution of health care benefits and progressive financing. Studies evaluated in this systematic review indicate that health care financing in LMICs benefits the rich more than the poor but the burden of financing also falls more on the rich. There is some evidence that primary health care is pro-poor suggesting a greater investment in such services and removal of barriers to care can enhance equity. The

Equity in Health Care Financing in Low- and Middle-Income Countries: A Systematic Review of Evidence from Studies Using Benefit and Financing Incidence Analyses.

Directory of Open Access Journals (Sweden)

Augustine Asante

Full Text Available Health financing reforms in low- and middle- income countries (LMICs over the past decades have focused on achieving equity in financing of health care delivery through universal health coverage. Benefit and financing incidence analyses are two analytical methods for comprehensively evaluating how well health systems perform on these objectives. This systematic review assesses progress towards equity in health care financing in LMICs through the use of BIA and FIA.Key electronic databases including Medline, Embase, Scopus, Global Health, CinAHL, EconLit and Business Source Premier were searched. We also searched the grey literature, specifically websites of leading organizations supporting health care in LMICs. Only studies using benefit incidence analysis (BIA and/or financing incidence analysis (FIA as explicit methodology were included. A total of 512 records were obtained from the various sources. The full texts of 87 references were assessed against the selection criteria and 24 were judged appropriate for inclusion. Twelve of the 24 studies originated from sub-Saharan Africa, nine from the Asia-Pacific region, two from Latin America and one from the Middle East. The evidence points to a pro-rich distribution of total health care benefits and progressive financing in both sub-Saharan Africa and Asia-Pacific. In the majority of cases, the distribution of benefits at the primary health care level favoured the poor while hospital level services benefit the better-off. A few Asian countries, namely Thailand, Malaysia and Sri Lanka, maintained a pro-poor distribution of health care benefits and progressive financing.Studies evaluated in this systematic review indicate that health care financing in LMICs benefits the rich more than the poor but the burden of financing also falls more on the rich. There is some evidence that primary health care is pro-poor suggesting a greater investment in such services and removal of barriers to care can enhance

Islamic Public Infrastructure Financing: An Analysis of Alternative Financing Instruments with Application in Developing Countries

National Research Council Canada - National Science Library

Islam, Saiful

2004-01-01

This project examines the structure of public infrastructure financing in Indonesia and examines whether financing based on Islamic principles is a feasible alternative to current financing mechanisms...

Soft-leadership competencies for today's healthcare finance executives.

Science.gov (United States)

Madden, Mark

2015-05-01

With the healthcare industry changing rapidly, organizations seek finance leaders who have skills that go beyond traditional expertise in revenue and expenses. These additional competencies fall under the heading of soft-leadership skills and include the ability to be strategy-oriented, agile, passionate, inspirational, influential, communicative, dependable, driven, integrative, and engaged. Networking, participation in a mentoring program, and continuing education provide avenues for finance leaders to develop these sorts of skills.

Local Self-Government Financing and Costs of Municipality in Slovenia

Directory of Open Access Journals (Sweden)

Zan Jan OPLOTNIK

2012-10-01

Full Text Available This research paper focuses on the compliance of the actual system of financing local selfgovernment in Slovenia with the basic principles of the theory of decentralization and guidelines of the European Charter of Local Self-Government. It addresses the level of costs coverage within the municipal competence by using the allocated appropriate expenditure resources calculated according to the Law of Financing Municipality Act. The purpose of the paper is, therefore, to look for an answer to the question whether and to what extent the obtained funds correspond to the actual workload that municipalities have for performing statutory tasks and for exercising their competences. Analysis shows that, on an aggregate level, these actual systems ensure enough resources for local governments to cover their actual costs and current expenditures; some groups of municipalities, e.g. larger urban municipalities, municipalities with large proportions of elderly people etc. are faced with lack of funding, according to the actual costs data available, while other groups of municipalities receive more funds than they need.

Financing models for HTR plants: Co-financing, counter trade, joint ventures

International Nuclear Information System (INIS)

Bogen, J.; Stoelzl, D.

1987-01-01

Structure and volume of investment cost for HTR nuclear power plants are different in comparison to other types of nuclear power plants. Even if the share of local participation is in comparable order of magnitude to other nuclear power plants, the required technical infrastructure for HTR plants is more suitable for existing and still practised technologies in countries which are in development processes. These HTR specific features offer special possibilities in HTR project financing. Various models are discussed in respect of the special HTR situation. Even if it is not possible to point out in a general manner the best solution - due to national, local and time dependant situations - this paper discusses the HTR specific impacts to buyer's credit financing, supplier's credit financing, barter trades or joint ventures and combined financing. (author). 4 refs, 9 figs

Unlocking Land Values to Finance Urban Infrastructure : Land-Based Financing Options for Cities

OpenAIRE

George E. Peterson

2008-01-01

Raising capital to finance urban infrastructure is a challenge. One solution is to 'unlock' urban land values - such as by selling public lands to capture the gains in value created by investment in infrastructure projects. Land-based financing techniques are playing an increasingly important role in financing urban infrastructure in developing countries. They complement other capital fina...

Health in Southeast Asia 6 Health-financing reforms in southeast Asia: challenges in achieving universal coverage

OpenAIRE

Tangcharoensathien, V; Patcharanarumol, W; Ir, P; Aljunid, SM; Mukti, AG; Akkhavong, K; Banzon, E; Huong, DB; Thabrany, H; Mills, A

2011-01-01

In this sixth paper of the Series, we review health-financing reforms in seven countries in southeast Asia that have sought to reduce dependence on out-of-pocket payments, increase pooled health finance, and expand service use as steps towards universal coverage. Laos and Cambodia, both resource-poor countries, have mostly relied on donor-supported health equity funds to reach the poor, and reliable funding and appropriate identification of the eligible poor are two major challenges for natio...

Sharing of risks in Islamic finance

OpenAIRE

Sekreter, Ahmet

2011-01-01

For most of the people the prohibition on interest is the well known part of Islamic finance. Indeed, the concept of Islamic finance was not being discussed enough till financial crisis, after crisis it started to be seen as an alternative financial system for conventional finance. Sharing the risks is the main concept of Islamic finance and one of the main differences between conventional and Islamic finance. Depositors/savers do not bear any risk in conventional finance however Islamic fina...

Carbon Finance – A Platform for Development of Sustainable Business in Kuwait

Directory of Open Access Journals (Sweden)

Ahmed Nahar AL-HUSSAINI

2016-09-01

Full Text Available Since 1880, the temperature of global has increased by 0.85 degree Celsius. Due to the increase in temperature, the impact of climate change is constantly increasing, which is known as global warming. The increase in temperature is due to emission of greenhouse gases. Carbon dioxide is a major greenhouse gas, which is capable of causing serious hazardous influence to the environment. Carbon emission reduction and low-carbon economy development have become global targets and national policy in both developing and developed countries. Carbon finance is a tool for reducing greenhouse gas (GHG emissions using a process called capture and storage (CCS. Using this process, the carbon dioxide is captured and stored for further usage as a renewable resource. Carbon finance has a high impact on the growth of sustainable business development. This research analyzes the various possibilities of developing sustainable business through carbon trading in Kuwait and the strategic options offered by both government, as well as private sectors for carbon trading in Kuwait. The central focus of research is to discover the role of carbon finance in developing sustainable business and environmental quality. Since no previous research is conducted on the specific role of carbon finance in developing a sustainable business preferably in Kuwait, the influence of carbon financing in sustainable business development and environmental quality are analyzed in this research.

Who? What? Why? Wind power and the finance industry

International Nuclear Information System (INIS)

Rave, K.

1999-01-01

This article focuses on the financing of wind energy projects and examines worldwide energy markets. Questioning raised include who invests in energy project and seeks financing; where is the project to be sited and under what legal background the investment is to be made; and how much power can be generated and the effect of this on the proposal feasibility. The provision of a stable basis for financing, the probable integration of wind power into energy services, the use of wind energy to supply the carbon dioxide reductions obligations, and the opportunities for financial services are discussed

Investment requirements in the energy sector and their financing

Energy Technology Data Exchange (ETDEWEB)

Diehl, R; Radtke, G; Stoessel, R [Dresdner Bank A.G., Duesseldorf (Germany, F.R.)

1980-01-01

The authors investigate the investment requirements of the energy economy, especially for the Federal Republic Germany, but also for parts of the world. Possibilities for financing are shown which can be considered as assured, under certain conditions. Included are the investments and the capital requirements for the fossil energy-carriers (coal, brown coal, oil, natural gas), for the electricity economy and for the regenerativ energy sources (e.g. tidal energy, wind, solar radiation). The last chapter deals with financing the necessary investments in the energy sector, considering the financing structure, financial problems of individual branches and the development of the credit volume.

Financing Nuclear Power Plant Projects. A New Paradigm?

International Nuclear Information System (INIS)

Pehuet Lucet, Fabienne

2015-05-01

enter nuclear projects. Securing revenues by entering into long term purchase agreements or tariff schemes and sharing the owner's risk by taking equity or debt interest contributes to reducing uncertainties and build investor's confidence. Recent financing schemes such as those proposed in the UK contribute, in this regard, to the feasibility of new nuclear power plants projects. The Build Own Operate model recently contracted for the Akkuyu project in Turkey goes beyond mere financing and long term price agreements, as most of the overall viability risk of the project is transferred to the vendor. After the 2008 financial crisis and its regulatory consequences, new constraints were imposed on banks. It is now necessary to consider new funding resources and new financing schemes to supplement traditional financing. As innovative fund raising and financing of nuclear projects is needed, financial conditions are now at the forefront of competition. Concurrently, competition to win new nuclear tenders exacerbated in recent years as markets became global and newcomer exporters of nuclear power plants' have been pursuing ambitious objectives on the international markets. The traditional competition system is organized along the OECD guidelines, ECA financing and the EU rules, whereas the challengers' competition system is free from such regulations and constraints. This provides countries such as Russia and China with possibilities to propose more advantageous financing and risk allocation schemes than the OECD countries, often through government to government agreements. The traditional vendors and nuclear projects' stakeholders are entering a new, more complex multilateral competition field requiring new strategies built on the protagonists' respective strengths. The international nuclear market is more and more intertwined. Overlapping competition systems now co-exist, bringing about major alliances and partnerships cutting across national

Financing Strategies for Nuclear Fuel Cycle Facility

International Nuclear Information System (INIS)

David Shropshire; Sharon Chandler

2005-01-01

To help meet our nation's energy needs, reprocessing of spent nuclear fuel is being considered more and more as a necessary step in a future nuclear fuel cycle, but incorporating this step into the fuel cycle will require considerable investment. This report presents an evaluation of financing scenarios for reprocessing facilities integrated into the nuclear fuel cycle. A range of options, from fully government owned to fully private owned, was evaluated using a DPL (Dynamic Programming Language) 6.0 model, which can systematically optimize outcomes based on user-defined criteria (e.g., lowest life-cycle cost, lowest unit cost). Though all business decisions follow similar logic with regard to financing, reprocessing facilities are an exception due to the range of financing options available. The evaluation concludes that lowest unit costs and lifetime costs follow a fully government-owned financing strategy, due to government forgiveness of debt as sunk costs. Other financing arrangements, however, including regulated utility ownership and a hybrid ownership scheme, led to acceptable costs, below the Nuclear Energy Agency published estimates. Overwhelmingly, uncertainty in annual capacity led to the greatest fluctuations in unit costs necessary for recovery of operating and capital expenditures; the ability to determine annual capacity will be a driving factor in setting unit costs. For private ventures, the costs of capital, especially equity interest rates, dominate the balance sheet; the annual operating costs dominate the government case. It is concluded that to finance the construction and operation of such a facility without government ownership could be feasible with measures taken to mitigate risk, and that factors besides unit costs should be considered (e.g., legal issues, social effects, proliferation concerns) before making a decision on financing strategy

An introduction to the mathematics of finance

CERN Document Server

Pollard, A H

1968-01-01

An Introduction to the Mathematics of Finance provides a simple, nonmathematical introduction to the mathematics of finance. Topics discussed in this book include simple interest; compound interest-annual compounding; annuities-certain; use of compound interest; and sinking funds. The equations of value; compounding more frequently than annually; and contracts at """"flat"""" rates of interest are also deliberated. This text likewise elaborates on the loans repayable by equal annual installments when interest is charged only on the amount of principal from time to time outstanding. Exercis

Caring finance practices

NARCIS (Netherlands)

I.P. van Staveren (Irene)

2013-01-01

textabstractThe 2008 financial crisis has demonstrated the failure of both utilitarian and deontological ethics in finance. Alternatives do not need to be created from nothing, because the crisis itself has stimulated the emergence of ethically sound finance practices from within the sector. This

48 CFR 32.114 - Unusual contract financing.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Unusual contract financing... CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 32.114 Unusual contract financing. Any contract financing arrangement that deviates from this part is unusual contract financing...

Performance-based financing for improving HIV/AIDS service delivery: a systematic review.

Science.gov (United States)

Suthar, Amitabh B; Nagata, Jason M; Nsanzimana, Sabin; Bärnighausen, Till; Negussie, Eyerusalem K; Doherty, Meg C

2017-01-04

Although domestic HIV/AIDS financing is increasing, international HIV/AIDS financing has plateaued. Providing incentives for the health system (i.e. performance-based financing [PBF]) may help countries achieve more with available resources. We systematically reviewed effects of PBF on HIV/AIDS service delivery to inform WHO guidelines. PubMed, WHO Index Medicus, conference databases, and clinical trial registries were searched in April 2015 for randomised trials, comparative contemporaneous studies, or time-series studies. Studies evaluating PBF in people with HIV were included when they reported service quality, access, or cost. Meta-analyses were not possible due to limited data. This study is registered with PROSPERO, number CRD42015023207. Four studies, published from 2009 to 2015 and including 173,262 people, met the eligibility criteria. All studies were from Sub-Saharan Africa. PBF did not improve individual testing coverage (relative risk [RR], 1.00, 95% confidence interval [CI] 0.89 to 1.13), improved couples testing coverage (RR 1.11, 95% CI 1.02 to 1.20), and improved pregnant women testing coverage (RR 1.29, 95% CI 1.28-1.30). PBF improved coverage of antiretrovirals in pregnant women (RR 1.55, 95% CI 1.50 to 1.59), infants (RR 1.92, 95% CI 1.84 to 2.01), and adults (RR 1.74, 1.64 to 1.85). PBF reduced attrition (RR 0.84, 95% CI 0.74 to 0.96) and treatment failure (odds ratio 0.55, 95% CI 0.32 to 0.97). Potential harms were not reported. Although the limited data suggests PBF positively affected HIV service access and quality, critical health system and governance knowledge gaps remain. More research is needed to inform national policymaking.

APPLIED BEHAVIORAL FINANCE IN A POST-CRISIS ENVIRONMENT: EMOTIONAL FINANCE

Directory of Open Access Journals (Sweden)

ADRIAN MITROI

2014-05-01

Full Text Available In the pursuit of understanding the behavior of the market player, the basic argument relays on the supposition that the risk appetite increases exactly at the worst moment - when the capacity to assume additional risk decreases significantly. People view a sample randomly drawn from a population as highly representative and cvasi similar to the population in all its essential characteristics. They expect any two samples drawn from a particular population to be more similar to one another and to the population than is statistically justifiable. This behavior is different from the tenets of classic finance theory. The gap between from theory to the practice of Behavioral Finance (BiFi- nickname has direct application to the investment management practice. Students of Behavioral Finance can develop skills to be employed in their practices for their clients. Behavioral Finance can teach about mental, emotional, psychological and social biases that lead to mistakes and biases o market efficiency, pricing anomalies and other market dynamics and risk – return investment outcomes.

Geothermal Financing Workbook

Energy Technology Data Exchange (ETDEWEB)

Battocletti, E.C.

1998-02-01

This report was prepared to help small firm search for financing for geothermal energy projects. There are various financial and economics formulas. Costs of some small overseas geothermal power projects are shown. There is much discussion of possible sources of financing, especially for overseas projects. (DJE-2005)

The managerial process of business financing

Directory of Open Access Journals (Sweden)

Solomia Andres

2008-10-01

Full Text Available This paper presents some modalities and financing forces for business, getting out in the first place the entrepreneur ingenuity for finding these sources of financing necessary for the business success. Also get some contributions and proposals regarding the criteria’s of which the entrepreneur must be take care in choosing the financial sources, for preparing the finance pack and presenting the financing demands, which good documented, not only grows up the chances of one financing but also can lead to fix some relations on long time with financing source.

31 CFR 205.9 - What is included in a Treasury-State agreement?

Science.gov (United States)

2010-07-01

... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false What is included in a Treasury-State agreement? 205.9 Section 205.9 Money and Finance: Treasury Regulations Relating to Money and Finance... must include, at a minimum, a clear indication of: (1) The data used; (2) The sources of the data; (3...

What is project finance?

OpenAIRE

João M. Pinto

2017-01-01

Project finance is the process of financing a specific economic unit that the sponsors create, in which creditors share much of the venture’s business risk and funding is obtained strictly for the project itself. Project finance creates value by reducing the costs of funding, maintaining the sponsors financial flexibility, increasing the leverage ratios, avoiding contamination risk, reducing corporate taxes, improving risk management, and reducing the costs associated with market ...

Financing Constraints and Entrepreneurship

OpenAIRE

William R. Kerr; Ramana Nanda

2009-01-01

Financing constraints are one of the biggest concerns impacting potential entrepreneurs around the world. Given the important role that entrepreneurship is believed to play in the process of economic growth, alleviating financing constraints for would-be entrepreneurs is also an important goal for policymakers worldwide. We review two major streams of research examining the relevance of financing constraints for entrepreneurship. We then introduce a framework that provides a unified perspecti...

The Housing Finance Revolution

OpenAIRE

Richard K. Green; Susan M. Wachter

2007-01-01

While other countries dismantled their segmented housing finance systems and linked housing finance to capital markets through deregulated depositories, the US linked housing finance to capital markets through depository deregulation and securitization. Elsewhere securitization has not developed. The US provided the underpinnings for its mortgage security infrastructure with the creation of FNMA in 1938 and in order to create liquidity in the mortgage market required the standardization of mo...

48 CFR 32.109 - Termination financing.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Termination financing. 32... CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 32.109 Termination financing. To encourage contractors to invest their own funds in performance despite the susceptibility of...

Financing the Business. Unit 11. Level 2. Instructor Guide. PACE: Program for Acquiring Competence in Entrepreneurship. Third Edition. Research & Development Series No. 302-11. Series No. 302-11.

Science.gov (United States)

Ohio State Univ., Columbus. Center on Education and Training for Employment.

This instructor guide for a unit on business financing in the PACE (Program for Acquiring Competence in Entrepreneurship) curriculum includes the full text of the student module and lesson plans, instructional suggestions, and other teacher resources. The competencies that are incorporated into this module are at Level 2 of learning--planning for…

Risk Sharing in Corporate and Public Finance: The Contribution of Islamic Finance

Directory of Open Access Journals (Sweden)

Obiyathulla Ismath Bacha

2015-09-01

Full Text Available Financial crises have become a recurring problem for modern economies with increasingly detrimental fallouts. Risk-sharing finance (RSF contracts may be the best instrument for addressing the problem and its fallout, and in particular the risk-sharing principles of Islamic finance offer a potential alternative. This paper offers some preliminary thoughts on the design and implementation of RSF for both private and public sector funding, for revenue and non-revenue generating projects. It is argued that such form of financing avoids the leverage of conventional debt, minimizes the costs of dilution, reduces macroeconomic vulnerability, and enhances financial inclusion. It also has the potential to be a less risky alternative for developing countries to finance public spending and economic growth. JEL Classifications: G32, P43, O16

The Challenge of Islamic Finance

OpenAIRE

Sheng, Andrew; Singh, Ajit

2012-01-01

From its humble beginnings in the 1990s, Islamic finance has become a trillion US dollar industry. The market consensus is that Islamic finance has a bright future due to favourable demographics and rising incomes in the Muslim community. Moreover, despite voices sceptical of an accommodation between Islamic and global finance, leading global banks are buying Islamic bonds and forming subsidiaries specially to conduct Islamic finance business. Special laws have been passed in non-Muslim fi...

Financing Innovation

OpenAIRE

William R. Kerr; Ramana Nanda

2014-01-01

We review the recent literature on the financing of innovation, inclusive of large companies and new startups. This research strand has been very active over the past five years, generating important new findings, questioning some long-held beliefs, and creating its own puzzles. Our review outlines the growing body of work that documents a role for debt financing related to innovation. We highlight the new literature on learning and experimentation across multi-stage innovation projects and h...

Renewable Energy Finance Tracking Initiative (REFTI) Solar Trend Analysis

Energy Technology Data Exchange (ETDEWEB)

Hubbell, R.; Lowder, T.; Mendelsohn, M.; Cory, K.

2012-09-01

This report is a summary of the finance trends for small-scale solar photovoltaic (PV) projects (PV <1 MW), large-scale PV projects (PV greater than or equal to 1 MW), and concentrated solar power projects as reported in the National Renewable Energy Laboratory's Renewable Energy Finance Tracking Initiative (REFTI). The report presents REFTI data during the five quarterly periods from the fourth quarter of 2009 to the first half of 2011. The REFTI project relies exclusively on the voluntary participation of industry stakeholders for its data; therefore, it does not offer a comprehensive view of the technologies it tracks. Despite this limitation, REFTI is the only publicly available resource for renewable energy project financial terms. REFTI analysis offers usable inputs into the project economic evaluations of developers and investors, as well as the policy assessments of public utility commissions and others in the renewable energy industry.

Financing Sustainable Development

DEFF Research Database (Denmark)

Fejerskov, Adam Moe; Funder, Mikkel; Engberg-Pedersen, Lars

. But what are in fact the interests and modes of operation of such actors in the context of development financing, and to what extent do they align with the aims of the SDGs? And how do national governments of developing countries themselves perceive and approach these new sources of financing?...

12 CFR 985.4 - Finance Board oversight.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Finance Board oversight. 985.4 Section 985.4 Banks and Banking FEDERAL HOUSING FINANCE BOARD OFFICE OF FINANCE THE OFFICE OF FINANCE § 985.4 Finance Board oversight. (a) Oversight and enforcement actions. The Finance Board shall have the same regulatory oversight authority and enforcement powers...

The Importance of Venture Capital Financing System in Financing Entrepreneurship: Applications in Turkey

OpenAIRE

Erkan Poyraz; Yusuf Tepeli

2016-01-01

The prominent concept of venture capital is examined as a financing model to the financing of entrepreneurship according to related literature. Venture capital is used with success in developed countries for a long time. Venture capital is a modern financing model that allows entrepreneurs to perform dynamic, creative, and innovative investment ideas as well as management, marketing and business support without requesting financial strength from those entrepreneurs. However, venture capital h...

Personal Finances during the Economic and Financial Crisis

OpenAIRE

Ioana LUPASC; Adrian LUPASC

2012-01-01

The crisis is unfortunately a negative feature specific to recent years which has affected most areas of activity in many countries, including the powerful economical ones. As a direct consequence, the crisis has had a significant and direct impact on people's personal finances. In this paper we propose different solutions which lead to a better administration of personal finances, so that the involved actors to be able to manage difficult situations made by the economic and financial crisis....

Project Finance: Basic Components

OpenAIRE

Alfieri Li Ojeda, Jaime

2015-01-01

The natural speed of the contemporary world demands large investment projects which require specialized financial techniques such as Project Finance, defined as a fund to finance investment projects of great magnitude. Every Project Finance involves a wide range of elements such as promoters, government, contractors andsuppliers, among others, that will ensure project success. La rapidez del mundo contemporáneo exige que los grandes proyectos de inversión requieran de técnicas financieras ...

SABER-School Finance: Data Collection Instrument

Science.gov (United States)

King, Elizabeth; Patrinos, Harry; Rogers, Halsey

2015-01-01

The aim of the SABER-school finance initiative is to collect, analyze and disseminate comparable data about education finance systems across countries. SABER-school finance assesses education finance systems along six policy goals: (i) ensuring basic conditions for learning; (ii) monitoring learning conditions and outcomes; (iii) overseeing…

Asset Pricing Implications of Firms' Financing Constraints

OpenAIRE

Gomes, Joao F; Yaron, Amir; Zhang, Lu

2002-01-01

We incorporate costly external finance in a production based asset pricing model and investigate whether financing frictions are quantitatively important for pricing a cross-section of expected returns. We show that the common assumptions about the nature of the financing frictions are captured by a simple ‘financing cost’ function, equal to the product of the financing premium and the amount of external finance. This approach provides a tractable framework to examine the role of financing fr...

Financing bidders in takeover contests

NARCIS (Netherlands)

Vladimirov, V.

2014-01-01

This paper studies how bidders' choice of financing for cash bids affects takeover prices. Endogenizing this choice shows that takeover premia are lower than when bidders are not cash-constrained for equity-like financing, but higher for debt financing. Intuitively, unlike debt (which leads to

Investment requirements in the energy sector and their financing

International Nuclear Information System (INIS)

Diehl, R.; Radtke, G.; Stoessel, R.

1980-01-01

The authors investigate the investment requirements of the energy economy, especially for the Federal Republic Germany, but also for parts of the world. Possibilities for financing are shown which can be considered as assured, under certain conditions. Included are the investments and the capital requirements for the fossil energy-carriers (coal, brown coal, oil, natural gas), for the electricity economy and for the regenerativ energy sources (e.g. tidal energy, wind, solar radiation). The last chapter deals with financing the necessary investments in the energy sector, considering the financing structure, financial problems of individual branches and the development of the credit volume. (orig.) [de

48 CFR 32.113 - Customary contract financing.

Science.gov (United States)

2010-10-01

... financing. 32.113 Section 32.113 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 32.113 Customary contract financing. The solicitation must specify the customary contract financing offerors may...

Equity in Health Care Financing in Low- and Middle-Income Countries: A Systematic Review of Evidence from Studies Using Benefit and Financing Incidence Analyses

Science.gov (United States)

Price, Jennifer; Hayen, Andrew; Jan, Stephen; Wiseman, Virginia

2016-01-01

Introduction Health financing reforms in low- and middle- income countries (LMICs) over the past decades have focused on achieving equity in financing of health care delivery through universal health coverage. Benefit and financing incidence analyses are two analytical methods for comprehensively evaluating how well health systems perform on these objectives. This systematic review assesses progress towards equity in health care financing in LMICs through the use of BIA and FIA. Methods and Findings Key electronic databases including Medline, Embase, Scopus, Global Health, CinAHL, EconLit and Business Source Premier were searched. We also searched the grey literature, specifically websites of leading organizations supporting health care in LMICs. Only studies using benefit incidence analysis (BIA) and/or financing incidence analysis (FIA) as explicit methodology were included. A total of 512 records were obtained from the various sources. The full texts of 87 references were assessed against the selection criteria and 24 were judged appropriate for inclusion. Twelve of the 24 studies originated from sub-Saharan Africa, nine from the Asia-Pacific region, two from Latin America and one from the Middle East. The evidence points to a pro-rich distribution of total health care benefits and progressive financing in both sub-Saharan Africa and Asia-Pacific. In the majority of cases, the distribution of benefits at the primary health care level favoured the poor while hospital level services benefit the better-off. A few Asian countries, namely Thailand, Malaysia and Sri Lanka, maintained a pro-poor distribution of health care benefits and progressive financing. Conclusion Studies evaluated in this systematic review indicate that health care financing in LMICs benefits the rich more than the poor but the burden of financing also falls more on the rich. There is some evidence that primary health care is pro-poor suggesting a greater investment in such services and removal

Investment process financing in Russian business: assessment, trends, problems

Directory of Open Access Journals (Sweden)

Lyudmila Aleksandrovna Kormishkina

2014-07-01

Full Text Available In modern conditions the provision of investment process financing is the most important task of state economic policy aimed at achieving sustainable growth and dynamic development of the Russian economy in general. This problem solution requires further theoretical consideration and development of appropriate methodological, methodical and practical recommendations. Financing of investment activity development should be based on the systemic approach, which considers this process as an element of the financial support system of the state innovation development. It is necessary to conduct research in order to expand the financial component of this support, encourage the investment process development, enhance financial relations in the sphere of forming and using the intellectual property objects and develop a complex of measures to study the innovations implementation possibilities. Although economic science pays a lot of attention to various aspects of the issue, there is currently no research work, devoted to the study of sources of the investment process financing. Development of methodical and practical recommendations to establish the system of its financing, taking into account modern world economic trends is required. The authors have revealed the enterprises’ general economic profit while promoting sustainable economic growth by means of provision of financial resources for it. The closeness of the relationship is calculated on the basis of regression models that characterize the sectoral distribution of gross profit. The correlation-regression analysis has helped to assess the influence of the main sources of the RF fixed assets on the investment index. The economic nature of the sources determines its value and dynamics

7 CFR 3560.71 - Construction financing.

Science.gov (United States)

2010-01-01

... 7 Agriculture 15 2010-01-01 2010-01-01 false Construction financing. 3560.71 Section 3560.71... Construction financing. (a) Construction financing plan. Prior to loan approval, applicants must submit to the Agency for its concurrence a plan for the construction financing and securing of the loan. (b) Interim...

Corporate finance in an interest free economy: An alternate approach to practiced Islamic Corporate Finance

OpenAIRE

Shaikh, Salman

2009-01-01

This paper suggests an alternate approach to corporate finance in an interest free economy by looking beyond practiced Islamic finance and suggesting alternatives for corporate finance in sourcing funds i.e. i) Ijara with embedded options, ii) limited liability partnership, iii) equity modes like Musharakah and Mudarabah iv) income bonds and v) convertible income bonds. It also suggests alternatives for corporate finance in using funds i.e. i) Islamic income funds, ii) Islamic REITs, iii) Tre...

Project finance of hydroelectric power plants in Brazil; 'Project finance' de usinas hidroeletricas no Brasil

Energy Technology Data Exchange (ETDEWEB)

Ribeiro Filho, Valfredo de Assis; Ramos, Maria Olivia de Souza [Universidade Salvador (UNIFACS), BA (Brazil)

2008-07-01

The aim of this paper is to discuss the modality of project finance of financing of enterprises, which is the main modality of structuring of hydroelectric projects in Brazil. In the discussion will be highlighted the importance of contracts EPC (Engineering, Search and Construction) in the structuring of project finances. This financing model has particular characteristics related to risk sharing and financial flexibility that enable the financing of projects with long-term capital, however, due to participation of various actors and the nature of the structure of project finance, the negotiation and drafting of contracts are always very complex.

48 CFR 32.104 - Providing contract financing.

Science.gov (United States)

2010-10-01

... financing. 32.104 Section 32.104 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 32.104 Providing contract financing. (a) Prudent contract financing can be a useful working tool in Government...

48 CFR 432.113 - Customary contract financing.

Science.gov (United States)

2010-10-01

... financing. 432.113 Section 432.113 Federal Acquisition Regulations System DEPARTMENT OF AGRICULTURE GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 432.113 Customary contract financing. The contracting officer may determine the necessity for customary contract financing. The...

Financing Asset Sales and Business Cycles

OpenAIRE

Arnold, Marc; Hackbarth, Dirk; Puhan, Tatjana-Xenia

2013-01-01

This paper analyzes the decision of firms to sell assets to fund investments (financing asset sales). For a sample of U.S. manufacturing firms during the 1971-2010 period, we document new stylized facts about financing asset sales that cannot be explained by traditional motives for selling assets, such as financial distress or financing constraints. Using a structural model of financing, investment, and macroeconomic risk, we show that financing asset sales attenuate the debt overhang problem...

FINANCING SME FUTURE DEVELOPMENT

Directory of Open Access Journals (Sweden)

Viorica CERBUSCA

2015-04-01

Full Text Available The paper highlights the problems faced by the SMEs in accessing adequate financing as one of the most significant barriers of the sector. Financial access is critical for SMEs’ growth and development. At the same time, the author emphasize that there is no unique way of financing SMEs. The need depends on the stage of maturity and size of the enterprise. In order to facilitate the SME access to finance it is necessary to adapt the best international practices and to adapt them at the local condition. Article aims to present microfinancing as a tool that could improve the SME access to finance, thus contributing to the economic development of the country by creating new jobs, new products and services

Sighten Final Technical Report DEEE0006690 Deploying an integrated and comprehensive solar financing software platform

Energy Technology Data Exchange (ETDEWEB)

O' Leary, Conlan [Sighten, Inc., San Francisco, CA (United States)

2017-10-15

Over the project, Sighten built a comprehensive software-as-a-service (Saas) platform to automate and streamline the residential solar financing workflow. Before the project period, significant time and money was spent by companies on front-end tools related to system design and proposal creation, but comparatively few resources were available to support the many back-end calculations and data management processes that underpin third party financing. Without a tool like Sighten, the solar financing processes involved passing information from the homeowner prospect into separate tools for system design, financing, and then later to reporting tools including Microsoft Excel, CRM software, in-house software, outside software, and offline, manual processes. Passing data between tools and attempting to connect disparate systems results in inefficiency and inaccuracy for the industry. Sighten was built to consolidate all financial and solar-related calculations in a single software platform. It significantly improves upon the accuracy of these calculations and exposes sophisticated new analysis tools resulting in a rigorous, efficient and cost-effective toolset for scaling residential solar. Widely deploying a platform like Sighten’s significantly and immediately impacts the residential solar space in several important ways: 1) standardizing and improving the quality of all quantitative calculations involved in the residential financing process, most notably project finance, system production and reporting calculations; 2) representing a true step change in terms of reporting and analysis capabilities by maintaining more accurate data and exposing sophisticated tools around simulation, tranching, and financial reporting, among others, to all stakeholders in the space; 3) allowing a broader group of developers/installers/finance companies to access the capital markets by providing an out-of-the-box toolset that handles the execution of running investor capital through a

Developing country finance in a post-2020 global climate agreement

Science.gov (United States)

Hannam, Phillip M.; Liao, Zhenliang; Davis, Steven J.; Oppenheimer, Michael

2015-11-01

A central task for negotiators of the post-2020 global climate agreement is to construct a finance regime that supports low-carbon development in developing economies. As power sector investments between developing countries grow, the climate finance regime should incentivize the decarbonization of these major sources of finance by integrating them as a complement to the commitments of developed nations. The emergence of the Asian Infrastructure Investment Bank, South-South Cooperation Fund and other nascent institutions reveal the fissures that exist in rules and norms surrounding international finance in the power sector. Structuring the climate agreement in Paris to credit qualified finance from the developing world could have several advantages, including: (1) encouraging low-carbon cooperation between developing countries; (2) incentivizing emerging investors to prefer low-carbon investments; and (3) enabling more cost-effective attainment of national and global climate objectives. Failure to coordinate on standards now could hinder low-carbon development in the decades to come.

Lifting All Boats? Finance Litigation, Education Resources, and Student Needs in the Post-"Rose" Era

Science.gov (United States)

Sims, David P.

2011-01-01

"Rose v. Council for Better Education" (1989) is often considered a transition point in education finance litigation, heralding an era of increasing concern for measurable adequacy of education across a broad spectrum of student needs. Prior research suggests that post-Rose lawsuits had less effect on the distribution of school spending…

Financing dengue vaccine introduction in the Americas: challenges and opportunities.

Science.gov (United States)

Constenla, Dagna; Clark, Samantha

2016-01-01

Dengue has escalated in the region of the Americas unabated despite major investments in integrated vector control and prevention strategies. An effective and affordable dengue vaccine can play a critical role in reducing the human and economic costs of the disease by preventing millions around the world from getting sick. However, there are considerable challenges on the path towards vaccine introduction. These include lack of sufficient financing tools, absence of capacity within national level decision-making bodies, and demands that new vaccines place on stressed health systems. Various financing models can be used to overcome these challenges including setting up procurement mechanisms, integrating regional and domestic taxes, and setting up low interest multilateral loans. In this paper we review these challenges and opportunities of financing dengue vaccine introduction in the Americas.

12 CFR 987.2 - Law governing rights and obligations of Banks, Finance Board, Office of Finance, United States...

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Law governing rights and obligations of Banks, Finance Board, Office of Finance, United States and Federal Reserve Banks; rights of any Person against Banks, Finance Board, Office of Finance, United States and Federal Reserve Banks. 987.2 Section 987.2 Banks and Banking FEDERAL HOUSING FINANCE...

Financing - general considerations

International Nuclear Information System (INIS)

1977-01-01

Various aspects of the problems of financing a multinational regional fuel cycle centre (RFCC) are briefly discussed. Some of the points covered are: financing by participants; floating long-term loans on capital markets outside the countries of the participants; and export credits for the purchase of equipment manufactured outside the countries of the participants

A Global Review of Sustainable Construction Project Financing: Policies, Practices, and Research Efforts

Directory of Open Access Journals (Sweden)

Ming Shan

2017-12-01

Full Text Available Despite the increasing investment in sustainable development over the past decade, a systematic review of sustainable construction project financing is lacking. The objectives of this paper are to conduct a systematic review to examine the policies, practices, and research efforts in the area of sustainable construction project financing, and to explore the potential opportunities for the future research. To achieve these goals, this paper first reviewed the sustainable construction project financing practices implemented by four representative developed economies including the United Kingdom, the United States, Singapore, and Australia. Then, this paper reviewed the efforts and initiatives launched by three international organizations including the United Nations, the Organization for Economic Co-operation and Development, and International Finance Corporation. After that, this paper reviewed the research efforts of sustainable construction project financing published in peer-review journals and books. This paper identified four major research themes within this area, which are the review of financial stakeholders and market of sustainable construction, benefits and barriers to sustainable construction project financing, financial vehicles for sustainable construction projects, innovative models and mechanisms for sustainable construction project financing. Additionally, this paper revealed five directions for the future research of sustainable construction project financing, which are the identification of financial issues in sustainable construction projects, the investigation of financial vehicles for sustainable construction projects in terms of their strengths, limitations, and performances, the examination of critical drivers for implementing sustainable construction project financing, the development of a knowledge-based decision support system for implementing sustainable construction financing, and the development of best practices for

48 CFR 32.202-3 - Conducting market research about financing terms.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Conducting market research... 32.202-3 Conducting market research about financing terms. Contract financing may be a subject included in the market research conducted in accordance with part 10. If market research for contract...

48 CFR 432.114 - Unusual contract financing.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Unusual contract financing... CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 432.114 Unusual contract financing. The HCA is authorized to approve unusual contract financing. The signed determination and finding...

48 CFR 1332.114 - Unusual contract financing.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Unusual contract financing... CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 1332.114 Unusual contract financing. The designee authorized to approve unusual contract financing arrangements is set forth in CAM...

7 CFR 1735.75 - Interim financing.

Science.gov (United States)

2010-01-01

... 7 Agriculture 11 2010-01-01 2010-01-01 false Interim financing. 1735.75 Section 1735.75... Involving Loan Funds § 1735.75 Interim financing. (a) A borrower may submit a written request for RUS approval of interim financing if it is necessary to close an acquisition before the loan to finance the...

Finance and North Sea oil: the challenge of non-recourse finance

Energy Technology Data Exchange (ETDEWEB)

White, N A

1976-04-01

Many companies operating in the North Sea feel that the financial community is not responding to the complexity of their situation brought about by the interplay between national legislation and fiscal measures, technological development, extreme weather conditions, OPEC decisions, or falling oil demand. The financial community feels it is lending its depositors' money and the kind of innovations required by some companies in the oil industry would reduce its level of security. After reviewing the possible solutions, the author concludes that it is highly unlikely that non-resource finance in large amounts will be available without collateral, or other security, from outside the North Sea area. The author offers his suggestion and preference for a new kind of vehicle to be designed by the financial institutions that would provide the necessary guarantees to the lending consortium in accordance with the needs of the individual participant in the license or field project. (MCW)

Natural Computing in Computational Finance Volume 4

CERN Document Server

O’Neill, Michael; Maringer, Dietmar

2012-01-01

This book follows on from Natural Computing in Computational Finance  Volumes I, II and III.   As in the previous volumes of this series, the  book consists of a series of  chapters each of  which was selected following a rigorous, peer-reviewed, selection process.  The chapters illustrate the application of a range of cutting-edge natural  computing and agent-based methodologies in computational finance and economics.  The applications explored include  option model calibration, financial trend reversal detection, enhanced indexation, algorithmic trading,  corporate payout determination and agent-based modeling of liquidity costs, and trade strategy adaptation.  While describing cutting edge applications, the chapters are  written so that they are accessible to a wide audience. Hence, they should be of interest  to academics, students and practitioners in the fields of computational finance and  economics.  

13 CFR 120.476 - Prohibited financing.

Science.gov (United States)

2010-01-01

... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Prohibited financing. 120.476... Business Lending Companies (sblc) § 120.476 Prohibited financing. An SBLC may not make a loan to a small business that has received financing (or a commitment for financing) from an SBIC that is an Associate of...

SABER-School Finance : Data Collection Instrument

OpenAIRE

World Bank

2015-01-01

The aim of the SABER-school finance initiative is to collect, analyze and disseminate comparable data about education finance systems across countries. SABER-school finance assesses education finance systems along six policy goals: (i) ensuring basic conditions for learning; (ii) monitoring learning conditions and outcomes; (iii) overseeing service delivery; (iv) budgeting with adequate an...

Piercing the sovereign ceiling: Issues in oil and gas project financing

International Nuclear Information System (INIS)

Coleman, T.S.

1998-01-01

In the oil and gas sector, corporations and governments face huge capital spending requirements in order to transform large resource discoveries into producing, cash-generating assets. A significant portion of this funding is expected to be done on a project finance basis, where bank lenders or bond investors take a secured position in financing a discrete project, with the expectation of being paid back by the cash flows from that project after completion. This trend is increasing demand for crediting rating services to provide credit ratings for these project financings. A key challenge is to analyze and rate credit-worthy projects in countries that have relatively low foreign currency sovereign ceilings due to economic, political, and financial risks. In most cases, the credit ratings for projects financed in currencies outside the host country are capped at the country''s foreign currency ceiling. However, in a few instances, mainly in the oil and gas sector, Moody''s has pierced the foreign currency ceiling or rated certain projects above the sovereign ratings of the countries where they are domiciled. The purpose of this article is to briefly explain some of the qualitative factors and considerations that have allowed Moody''s to pierce the ceiling in the oil and gas sector, with a focus on two recent and noteworthy projects: Ras Laffan Liquefied Natural Gas in Qatar and Petrozuata in Venezuela

Factors Affecting the Financing of Profitability Using Non Performing Financing as Moderating Variable in Sharia Business Unit of Bank Sumut (Bank of North Sumatera in North Sumatera

Directory of Open Access Journals (Sweden)

Rahmad Hidayat

2018-03-01

Full Text Available Shariah financing has also various kinds of agreement. Its fund has be distributed to low risky sector in order to produce the optimal income in the preparation of Bank Sumut UUS for spin off in 2018. The objective of the research was to analyze the influence of Third Party Fund and CAR on Financing and the influence of Third Party Fund, CAR and ROA as well as to test the significance of Non Performing Financing as the moderating varable on ROA. The sample of the research included 5 (five Branch Offices on Bank Sumut UUS by taking the annual final statements from 2010 until 2015. The instruments used were regression method of panel data, regression method of moderating and path analysis using EViews software. The Third Party Fund did not have any significant influence on ROA with financing as the intervening variable, and neither did CAR on ROA with financing as the moderating variable, had insignificant influence on ROA statistically. Moreover, the Third Party Fund, CAR and Financing had insignificant influence statistically at significant level 5% on ROA with Non Performing Financing as the moderating variable. The implication of this research was that Bank Sumut UUS had to pay attention to the financing risk to make optimal profit s well as micro an macro economic factors for financing provided for productivity an consumer.

Study on Risk Management in Financing and Operational of Grameen Bank Financing Concept in MBK Finance

Directory of Open Access Journals (Sweden)

Bobby Yulandika Putra

2014-03-01

Full Text Available Objective – Poverty is one of the most fundamental issues that still surround the life of 29.89 million people of Indonesia (National Statistical Bureau data from January 2, 2012. During this time, the pattern of poverty alleviation programs undertaken by the government is a pattern of generosity. This pattern can directly exacerbate the poor morals and behavior. Ideally, poverty alleviation efforts are made by concrete steps, which empower poor `communities themselves.In line with the theme of this research, one of the financial institutions (non-Banks who cares and has the spirit to empower people to overcome poverty is Mitra Bisnis Keluarga (MBK. This study aimed to assess the financial risks and operational risks of implementation of Grameen Bank financing concept in MBK.Methods - The method used in this research is literature review and qualitative descriptive study using actual MBK data.Results - Results from this research showed that products with the concept of Grameen Bank financing is relatively safe in the terms of the financing risk, but requires more attention on operational risk and which can be implemented for large-scale poverty alleviation program.Conclusion - The data showed that the risk of financing given to the poor (without collateral is minimal and MBK actual data shows that the Operational self-sufficiency is relatively high at> 90% Keywords : MBK, Grameen Bank, Poverty

FINANCING OF INVESTMENT PROJECTS OF GAS DISTRIBUTION ENTERPISES AS A FACTOR OF THEIR DEVELOPMENT

Directory of Open Access Journals (Sweden)

Svitlana Korol

2016-03-01

Full Text Available In the article theoretical questions of formation sources of financing investments   are  considered, the analysis of investment activities is carried out by the sources of funding for gas  utility. The purpose of this article is to identify priority sources of financing investment activities of gas distribution enterprises. The  methodology  of  research.  To  achieve  this  goal  the  author  used  methods  of  theoretical generalization; statistical and financial methods in the study of dynamics and structure of  investment; tabular methods to display the structure of the main sources of financing of  the  investment program of gas distribution enterprises; consistency and comparison, to determine the relationship between the main components of investment sources of financing. As a result of research by critical retrospective analysis to determine the structure of sources of financing investment activities of gas distribution enterprises. It is established that the main sources of financing the investment program are the tariffs for transportation and supply of gas, says the national Commission, carrying out state regulation in the areas of energy and  utilities (NCREU. It is filed the structure of the main financing sources of the investment  program of gas distribution enterprises. It is proved that the level of funding depends on the size  of NCREU rates and gas consumption. Scientific novelty of the article is lack in domestic and foreign areas of research priority  selection of sources financing of the investment program for gas distribution enterprises. The practical significance is that the theoretical concepts, practical results and conclusions of  articles that reveal the essence of the problem of investment sources of financing, can be used in  the activity of gas distribution enterprises taking into account the current state of development  of the economy. Keywords: investment  resources,  financing

24 CFR 884.114 - Financing.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Financing. 884.114 Section 884.114... HOUSING PROJECTS Applicability, Scope and Basic Policies § 884.114 Financing. (a) Types. Eligible projects... contract as security for financing. (1) An Owner may pledge, or offer as security for any loan or...

Mountain Plains Learning Experience Guide: Marketing. Course: Business Finance and Control.

Science.gov (United States)

Egan, B.

One of thirteen individualized courses included in a marketing curriculum, this course covers control of expenses, inventory control, analysis of financial statements, and government regulations pertaining to business. The course is comprised of three units: (1) Fundamentals of Finance, (2) Merchandise Finance and Control, and (3) Food and…

31 CFR 537.302 - Economic development of resources located in Burma.

Science.gov (United States)

2010-07-01

... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Economic development of resources... REGULATIONS General Definitions § 537.302 Economic development of resources located in Burma. (a) The term economic development of resources located in Burma means activities pursuant to a contract the subject of...

The Fundamental Equation in Tourism Finance

Directory of Open Access Journals (Sweden)

Michael McAleer

2015-12-01

Full Text Available The purpose of the paper is to present the fundamental equation in tourism finance that connects tourism research to empirical finance and financial econometrics. The energy industry, which includes, oil, gas and bio-energy fuels, together with the tourism industry, are two of the most important industries in the world today in terms of employment and generating income. The primary purpose in attracting domestic and international tourists to a country, region or city is to maximize tourism expenditure. The paper will concentrate on daily tourism expenditure, regardless of whether such data might be readily available. If such data are not available, a practical method is presented to calculate the appropriate data.

Scaling up climate finance for sustainable infrastructure in developing cities

Energy Technology Data Exchange (ETDEWEB)

Li, Jun

2010-09-15

This article investigates the role of carbon finance and seeks to establish a policy framework that allows reorientation of upfront investment in urban infrastructure for facilitating transition towards low-carbon development trajectory in developing cities. It draws on an in-depth exploration of different climate finance mechanisms and their applicability in the context of fast urbanization. We suggest an integrated approach should be adopted to aggregate city-based multiple individual GHG mitigation projects dealing with buildings and transport efficiency. The sectoral approach and NAMAs-based financing schemes be included in post-Kyoto regime for shifting the current trajectories in fast growing developing cities.

Direct use applications of geothermal resources at Desert Hot Springs, California. Final report, May 23, 1977--July 31, 1978. Volume II: appendixes

Energy Technology Data Exchange (ETDEWEB)

Christiansen, C.C.

1978-07-01

The following appendixes are included: Desert Hot Springs (DHS) Geothermal Project Advisory Board, Geothermal Citizens Advisory Committee, community needs assessment, geothermal resource characterization, a detailed discussion of the geothermal applications considered for DHS, space/water heating, agricultural operations, detailed analysis of a geothermal aquaculture facility, detailed discussion of proposed energy cascading systems for DHS, regulatory requirements, environmental impact assessment, resource management plan, and geothermal resources property rights and powers of cities to regulate indigenous geothermal resources and to finance construction of facilities for utilization of such resources. (MHR)

PREMISES FOR A MODEL OF DECISION – MAKING ON THE FINANCING OF A PROJECT

OpenAIRE

Popovici Ioana; Tulai Constantin

2010-01-01

The classical theory of finance is based on the premises of rationality and maximizing profits that accompany economic decision-making. Complementarily, the modern theory of behavioral finance studies the effect of emotional and psychological factors of decision- maker on the choice of financing sources for economic activities. In opposition with the classical perspective, the contemporary theory of finance brings up to the stage various aspects of decision making, including elements of strat...

78 FR 72718 - NASA Advisory Council; Audit, Finance and Analysis Committee; Meeting

Science.gov (United States)

2013-12-03

... NATIONAL AERONAUTICS AND SPACE ADMINISTRATION [Notice: (13-139)] NASA Advisory Council; Audit... amended, the National Aeronautics and Space Administration announces a meeting of the Audit, Finance and... includes briefings on the following topics: Finance Update Budget Update NASA Strategic Planning and...

Guidebook to financing CDM projects

Energy Technology Data Exchange (ETDEWEB)

Kamel, S.

2007-07-01

One of the challenges facing Clean Development Mechanism (CDM) projects today is their limited ability to secure financing for the underlying greenhouse gas emission reduction activities, particularly in the least developed countries. Among the key reasons for this is the fact that most financial intermediaries in the CDM host countries have limited or no knowledge of the CDM Modalities and Procedures. Moreover, approaches, tools and skills for CDM project appraisal are lacking or are asymmetrical to the skills in comparable institutions in developed countries. Consequently, developing country financial institutions are unable to properly evaluate the risks and rewards associated with investing or lending to developers undertaking CDM projects, and therefore have, by-and-large, refrained from financing these projects. In addition, some potential project proponents lack experience in structuring arrangements for financing a project. This Guidebook - commissioned by the UNEP Risoe Centre as part of the activities of the Capacity Development for CDM (CD4CDM) project (http://www.cd4cdm.org) - addresses these barriers by providing information aimed at both developing country financial institutions and at CDM project proponents. It should be noted that while the Guidebook was developed particularly with the CDM in mind, most sections will also be relevant for Joint Implementation (JI) project activities. For more detailed information on JI modalities and procedures please consult: http://ji.unfccc.int The purpose of this Guidebook is two-fold: 1) To guide project developers on obtaining financing for the implementation of activities eligible under the CDM; and 2) To demonstrate to developing country financial institutions typical approaches and methods for appraising the viability of CDM projects and for optimally integrating carbon revenue into overall project financing. The target audiences for the Guidebook are therefore, primarily: 1) CDM project proponents in

Hardship financing of healthcare among rural poor in Orissa, India.

Science.gov (United States)

Binnendijk, Erika; Koren, Ruth; Dror, David M

2012-01-27

This study examines health-related "hardship financing" in order to get better insights on how poor households finance their out-of-pocket healthcare costs. We define hardship financing as having to borrow money with interest or to sell assets to pay out-of-pocket healthcare costs. Using survey data of 5,383 low-income households in Orissa, one of the poorest states of India, we investigate factors influencing the risk of hardship financing with the use of a logistic regression. Overall, about 25% of the households (that had any healthcare cost) reported hardship financing during the year preceding the survey. Among households that experienced a hospitalization, this percentage was nearly 40%, but even among households with outpatient or maternity-related care around 25% experienced hardship financing.Hardship financing is explained not merely by the wealth of the household (measured by assets) or how much is spent out-of-pocket on healthcare costs, but also by when the payment occurs, its frequency and its duration (e.g. more severe in cases of chronic illnesses). The location where a household resides remains a major predictor of the likelihood to have hardship financing despite all other household features included in the model. Rural poor households are subjected to considerable and protracted financial hardship due to the indirect and longer-term deleterious effects of how they cope with out-of-pocket healthcare costs. The social network that households can access influences exposure to hardship financing. Our findings point to the need to develop a policy solution that would limit that exposure both in quantum and in time. We therefore conclude that policy interventions aiming to ensure health-related financial protection would have to demonstrate that they have reduced the frequency and the volume of hardship financing.

Hardship financing of healthcare among rural poor in Orissa, India

Directory of Open Access Journals (Sweden)

Binnendijk Erika

2012-01-01

Full Text Available Abstract Background This study examines health-related "hardship financing" in order to get better insights on how poor households finance their out-of-pocket healthcare costs. We define hardship financing as having to borrow money with interest or to sell assets to pay out-of-pocket healthcare costs. Methods Using survey data of 5,383 low-income households in Orissa, one of the poorest states of India, we investigate factors influencing the risk of hardship financing with the use of a logistic regression. Results Overall, about 25% of the households (that had any healthcare cost reported hardship financing during the year preceding the survey. Among households that experienced a hospitalization, this percentage was nearly 40%, but even among households with outpatient or maternity-related care around 25% experienced hardship financing. Hardship financing is explained not merely by the wealth of the household (measured by assets or how much is spent out-of-pocket on healthcare costs, but also by when the payment occurs, its frequency and its duration (e.g. more severe in cases of chronic illnesses. The location where a household resides remains a major predictor of the likelihood to have hardship financing despite all other household features included in the model. Conclusions Rural poor households are subjected to considerable and protracted financial hardship due to the indirect and longer-term deleterious effects of how they cope with out-of-pocket healthcare costs. The social network that households can access influences exposure to hardship financing. Our findings point to the need to develop a policy solution that would limit that exposure both in quantum and in time. We therefore conclude that policy interventions aiming to ensure health-related financial protection would have to demonstrate that they have reduced the frequency and the volume of hardship financing.

Financing the alternative: renewable energy in developing and transition countries

OpenAIRE

Brunnschweiler, Christa N.

2006-01-01

This paper examines the determinants of credit allocation to renewable energy firms in developing and transition countries. Using a simple en- dogenous growth model, we show that the development of the renewable energy sector, i.e. the diversification of renewable energy resources used in primary energy production, depends on the quality of financial intermedia- tion, debtor information costs to banks, and financing needs of renewable energy firms. Policies should aim at increasing financial ...

Financing investment in environmentally sound technologies: Foreign direct investment versus foreign debt finance

International Nuclear Information System (INIS)

Anyangah, Joshua Okeyo

2010-01-01

This paper develops a screening model to examine the relationship between alternative sources of private capital and investment in environmentally sound technologies (ESTs). In the model, a polluter (agent) must secure investment funds from the international financial markets in order to upgrade its production and abatement technology. The requisite capital can be obtained via either market loans (debt finance) or foreign direct investment (FDI). Under debt finance, the foreign financier supplies only capital and the relationship between the two parties is more 'arms-length'. By contrast, under FDI, the investor delivers both capital and managerial skills. We use the model to derive the implications of debt finance for optimal investment decisions and compare them to those obtained under FDI. Investment incentives are more pronounced under debt finance. (author)

Geothermal Money Book [Geothermal Outreach and Project Financing

Energy Technology Data Exchange (ETDEWEB)

Elizabeth Battocletti

2004-02-01

Small business lending is big business and growing. Loans under $1 million totaled $460 billion in June 2001, up $23 billion from 2000. The number of loans under $100,000 continued to grow at a rapid rate, growing by 10.1%. The dollar value of loans under $100,000 increased 4.4%; those of $100,000-$250,000 by 4.1%; and those between $250,000 and $1 million by 6.4%. But getting a loan can be difficult if a business owner does not know how to find small business-friendly lenders, how to best approach them, and the specific criteria they use to evaluate a loan application. This is where the Geothermal Money Book comes in. Once a business and financing plan and financial proposal are written, the Geothermal Money Book takes the next step, helping small geothermal businesses locate and obtain financing. The Geothermal Money Book will: Explain the specific criteria potential financing sources use to evaluate a proposal for debt financing; Describe the Small Business Administration's (SBA) programs to promote lending to small businesses; List specific small-business friendly lenders for small geothermal businesses, including those which participate in SBA programs; Identify federal and state incentives which are relevant to direct use and small-scale (< 1 megawatt) power generation geothermal projects; and Provide an extensive state directory of financing sources and state financial incentives for the 19 states involved in the GeoPowering the West (GPW). GPW is a U.S. Department of Energy-sponsored activity to dramatically increase the use of geothermal energy in the western United States by promoting environmentally compatible heat and power, along with industrial growth and economic development. The Geothermal Money Book will not: Substitute for financial advice; Overcome the high exploration, development, and financing costs associated with smaller geothermal projects; Remedy the lack of financing for the exploration stage of a geothermal project; or Solve

Financing with a dual-tranche

International Nuclear Information System (INIS)

Kenney, J.H.

1992-01-01

This article examines a type of project financing where a bank and an insurance company (or other investment institution) share the senior secured debt for a longer term than the bank could alone. The topics of the article include the dual-tranche model, voting and majorities, prepayment rights and premiums, collateral sharing, and documentation and administration

Alternative sources of financing entrepreneurial undertakings in agriculture

Directory of Open Access Journals (Sweden)

Njegomir Vladimir

2017-01-01

Full Text Available Insufficiency of internal financial resources and limited access to external sources of capital, as one of the key problems, local agricultural producers - entrepreneurs usualy describe with high cost of capital, complicated procedures, lack of transparency in regard to the settlement of credit requests and problems with security of loans. The aim of this study is to analyze the possibilities of facilitating access to increased volume of capital for domestic entrepreneurs in agriculture by using funding sources that are applied in developed economies for financing entrepreneurs. In order to achieve the stated aim, the subject of investigation in this paper is the analysis of alternative sources of financing, which use or increased adoption in Serbia would provide greater availability of capital for agricultural producers and others across the chain of agrobusiness complex and thus the promotion of entrepreneurial activity, and consequently, greater competitiveness and greater income of domestic agricultural producers and others across the chain of agrbusiness indirectly leading to increased economic growth and improvement of the welfare.

Compendium on Financing of Higher Education: Final Report of the Financing the Students' Future Project

Science.gov (United States)

Payne, Bethan; Charonis, George-Konstantinos; Haaristo, Hanna-Stella; Maurer, Moritz; Kaiser, Florian; Siegrist, Rahel; McVitty, Debbie; Gruber, Angelika; Heerens, Nik; Xhomaqi, Brikena; Nötzl, Tina; Semjonov, Meeli; Primožic, Rok

2013-01-01

Higher education plays a vital role in society and the quality, accessibility, and form of higher education is highly dependent on financing. Financing of higher education is conceived to be of central importance for the future creation and dissemination of knowledge and research. Therefore, the financing of higher education is a topic that has…

Development of Green Business as an Approach to Financing the Greening of Economy

Directory of Open Access Journals (Sweden)

Natal’ya Nikolaevna Yashalova

2016-11-01

Full Text Available The issues of green economy development are in the focus of attention of Russian and foreign scientists. Its formation was influenced by environmental activities financing sources. The article presents the description of budgetary and extra-budgetary environmental protection financing. Special attention is paid to the need to strengthen private financial support of environmentally determined activities, which can be implemented as part of development of ecopreneurship. The purpose of this article is to identify the trends in budgetary and extra-budgetary environmental protection financing and resource conservation in the Russian Federation and to rationalize theoretically the necessity of business participation in financing of environment-related business ideas, which is aimed at supporting the greening of economic activity at the regional level. The methods of empirical and statistical research, systematization and generalization of information have been used. SWOT analysis has identified the strengths and weaknesses of green business, as well as the opportunities for and threats to its development. The study systematizes the information on the sources of financing of environment-related activities, identifies their strengths and weaknesses, and analyzes statistical data on financial aspects of environmental protection. It has been established that the financing of environmental activities in the regions is carried out according to the residual principle; most of the sources of environment financing are unavailable to economic entities; indirect assistance in the implementation of environment-related management finds absolutely no application. The material presented in this paper can be used by public authorities in the development of measures to facilitate the transition to green economy and may also be applicable in the educational process. The authors conclude that the successful transition of Russian regions to the path of sustainable

Capital financing in prospective payment.

Science.gov (United States)

Oszustowicz, R J; Dreachslin, J L

1984-03-01

In the era of prospective payment, arranging financing for hospital capital projects is expected to become even more complicated than under cost-based reimbursement systems. This article outlines the information needed for a bond issue in the prospective payment environment, defines the roles and duties of several external persons and organizations involved with planning a major capital financing, and provides an overview of the entire process. This article assumes for illustrative purposes that a tax-exempt bond issue is going to be used to finance a facility expansion. This method was chosen since over 70% of all major capital financing for hospitals use the tax-exempt bond as the principal vehicle for attracting the necessary debt to finance a major construction project. The tax-exempt bond issue also requires the most detail in documentation and legal provisions.

The Role of Social Networks in Financing High Technology New Ventures: An Empirical Exploration

NARCIS (Netherlands)

Heuven, J.M.J.

2006-01-01

This paper focuses on the role of networks in financing high technology start-ups. We claim that the role of networks is twofold. On the one hand networks are important because network contacts can give direct access to resources. On the other hand, networks are important because being affiliated

Day-ahead resource scheduling including demand response for electric vehicles

DEFF Research Database (Denmark)

Soares, Joao; Morais, Hugo; Sousa, Tiago

2014-01-01

Summary form only given. The energy resource scheduling is becoming increasingly important, as the use of distributed resources is intensified and massive gridable vehicle (V2G) use is envisaged. This paper presents a methodology for day-ahead energy resource scheduling for smart grids considering...

Financing power projects in emerging markets

International Nuclear Information System (INIS)

Matsumoto, G.T.

1996-01-01

Financing for power generation projects in the developing countries of the world has been provided by the United States Export-Import Bank. The loans provided by its new Project Finance Division, totalling $8.3 billion are described. The future of project financing for the power generation industry should, it is argued, rest not with government financing agencies, but with private sector financial markets. (UK)

Essays in Household Finance

DEFF Research Database (Denmark)

Hanspal, Tobin

This Ph.D. thesis, entitled Essays in Household Finance, analyzes the determinants and implications of investment biases, personal experiences in financial markets, and financing disruptions on households, individual investors, and entrepreneurs and small business owners. The first essay...... on risk taking is the potential bias resulting from inertia and inattention, which has been shown to be endemic in household finance. If individuals are inert or inattentive, it is difficult to establish whether changes in risk taking are caused by personal experiences or whether the change in risk taking...

2007 Survey of Energy Resources

Energy Technology Data Exchange (ETDEWEB)

NONE

2007-09-15

This WEC study is a unique comprehensive compilation of global energy resources. Complementing the BP Statistical Review and the World Energy Outlook, it details 16 key energy resources with the latest data provided by 96 WEC Member Committees worldwide. This highly regarded publication is an essential tool for governments, NGOs, industry, academia and the finance community. This 21st edition is the latest in a long series of reviews of the status of the world's major energy resources. It covers not only the fossil fuels but also the major types of traditional and novel sources of energy.

2007 Survey of Energy Resources

Energy Technology Data Exchange (ETDEWEB)

NONE

2007-09-15

This WEC study is a unique comprehensive compilation of global energy resources. Complementing the BP Statistical Review and the World Energy Outlook, it details 16 key energy resources with the latest data provided by 96 WEC Member Committees worldwide. This highly regarded publication is an essential tool for governments, NGOs, industry, academia and the finance community. This 21st edition is the latest in a long series of reviews of the status of the world's major energy resources. It covers not only the fossil fuels but also the major types of traditional and novel sources of energy.

FINANCING PUBLIC INSTITUTIONS OF ACADEMIC EDUCATION IN SPAIN

Directory of Open Access Journals (Sweden)

DRĂGUŞIN CRISTINA-PETRINA

2015-04-01

Full Text Available Currently, Spanish universities meet the educational needs of the students with a wide offer of courses and the opportunity to study at all levels. They appear as an attractive option in the context of the relatively low cost of living compared to other countries in the EU area and under conditions of a tax system controlled by the Government. Starting from the assumption that the financing model of the academic education public institutions represents the foundation of their modernization in the current society based on changes and evolution, in this paper we propose to bring into the light of the concerns of those who are interested, through a persuasive exhibit, the Spanish model and its specific features. To this end, our debate will begin with a description of the Spanish system of academic education under the decentralized model of financing imprint, continuing with the presentation of specific skills in terms of funding on the triptych template: state - autonomous communities - universities. Subsequently, our investigative approach will focus on detailing the tertiary education financing sources: public resources, private and patrimonial revenues. The end of our presentation will be intended for conclusions, through which we aim to advance our vision regarding the investigated problems. In fact, the paper is intended to be a precursor step in carrying out a comparative study between the academic education funding mechanism in Romania and the Spanish one.

PREMISES FOR A MODEL OF DECISION – MAKING ON THE FINANCING OF A PROJECT

Directory of Open Access Journals (Sweden)

Popovici Ioana

2010-07-01

Full Text Available The classical theory of finance is based on the premises of rationality and maximizing profits that accompany economic decision-making. Complementarily, the modern theory of behavioral finance studies the effect of emotional and psychological factors of decision- maker on the choice of financing sources for economic activities. In opposition with the classical perspective, the contemporary theory of finance brings up to the stage various aspects of decision making, including elements of strategic behavior towards risk. All these contradictory elements are used as premises for modeling the decision making process of financing a project.

First Steps Toward a Quality of Climate Finance Scorecard (QUODA-CF): Creating a Comparative Index to Assess International Climate Finance Contributions

Energy Technology Data Exchange (ETDEWEB)

Sierra, Katherine; Roberts, Timmons; de Nevers, Michele; Langley, Claire; Smith, Cory

2013-06-15

Are climate finance contributor countries, multilateral aid agencies and specialized funds using widely accepted best practices in foreign assistance? How is it possible to measure and compare international climate finance contributions when there are as yet no established metrics or agreed definitions of the quality of climate finance? As a subjective metric, quality can mean different things to different stakeholders, while of donor countries, recipients and institutional actors may place quality across a broad spectrum of objectives. This subjectivity makes the assessment of the quality of climate finance contributions a useful and necessary exercise, but one that has many challenges. This work seeks to enhance the development of common definitions and metrics of the quality of climate finance, to understand what we can about those areas where climate finance information is available and shine a light on the areas where there is a severe dearth of data. Allowing for comparisons of the use of best practices across funding institutions in the climate sector could begin a process of benchmarking performance, fostering learning across institutions and driving improvements when incorporated in internal evaluation protocols of those institutions. In the medium term, this kind of benchmarking and transparency could support fundraising in contributor countries and help build trust with recipient countries. As a feasibility study, this paper attempts to outline the importance of assessing international climate finance contributions while describing the difficulties in arriving at universally agreed measurements and indicators for assessment. In many cases, data are neither readily available nor complete, and there is no consensus on what should be included. A number of indicators are proposed in this study as a starting point with which to analyze voluntary contributions, but in some cases their methodologies are not complete, and further research is required for a

Health and economic benefits of public financing of epilepsy treatment in India: An agent-based simulation model.

Science.gov (United States)

Megiddo, Itamar; Colson, Abigail; Chisholm, Dan; Dua, Tarun; Nandi, Arindam; Laxminarayan, Ramanan

2016-03-01

An estimated 6-10 million people in India live with active epilepsy, and less than half are treated. We analyze the health and economic benefits of three scenarios of publicly financed national epilepsy programs that provide: (1) first-line antiepilepsy drugs (AEDs), (2) first- and second-line AEDs, and (3) first- and second-line AEDs and surgery. We model the prevalence and distribution of epilepsy in India using IndiaSim, an agent-based, simulation model of the Indian population. Agents in the model are disease-free or in one of three disease states: untreated with seizures, treated with seizures, and treated without seizures. Outcome measures include the proportion of the population that has epilepsy and is untreated, disability-adjusted life years (DALYs) averted, and cost per DALY averted. Economic benefit measures estimated include out-of-pocket (OOP) expenditure averted and money-metric value of insurance. All three scenarios represent a cost-effective use of resources and would avert 800,000-1 million DALYs per year in India relative to the current scenario. However, especially in poor regions and populations, scenario 1 (which publicly finances only first-line therapy) does not decrease the OOP expenditure or provide financial risk protection if we include care-seeking costs. The OOP expenditure averted increases from scenarios 1 through 3, and the money-metric value of insurance follows a similar trend between scenarios and typically decreases with wealth. In the first 10 years of scenarios 2 and 3, households avert on average over US$80 million per year in medical expenditure. Expanding and publicly financing epilepsy treatment in India averts substantial disease burden. A universal public finance policy that covers only first-line AEDs may not provide significant financial risk protection. Covering costs for both first- and second-line therapy and other medical costs alleviates the financial burden from epilepsy and is cost-effective across wealth

Financing of the site search by a public corporation (organization model)

International Nuclear Information System (INIS)

Waldhoff, C.

2005-01-01

The topics of the paper are the modifcation of the radioactive waste final deposit concept and the financing form, corporations with compulsory membership, existing examples and their justification, special features of the final deposit corporation including limitations of the functional self-administration within the nuclear management and constitutional aspects of the financing

Survey of Public Understanding on Energy Resources including Nuclear Energy (I)

International Nuclear Information System (INIS)

Park, Se-Moon; Song, Sun-Ja

2007-01-01

Women in Nuclear-Korea (WINK) surveyed the public understanding on various energy resources in early September 2006 to offer the result for establishment of the nuclear communication policy. The reason why this survey includes other energy resources is because the previous works are only limited on nuclear energy, and also aimed to know the public's opinion on the present communication skill of nuclear energy for the public understanding. The present study is purposed of having data how public understands nuclear energy compared to other energies, such as fossil fuels, hydro power, and other sustainable energies. The data obtained from this survey have shown different results according to the responded group; age, gender, residential area, etc. Responded numbers are more than 2,000 of general public and university students. The survey result shows that nuclear understanding is more negative in women than in men, and is more negative in young than older age

Climate finance, climate investors and assets for low emission development

Directory of Open Access Journals (Sweden)

Collins C Ngwakwe

2015-05-01

Full Text Available This research examines the relationship between climate finance, growth in climate investors and growth in climate assets for low emission development. It also evaluates the effect of climate policy evolution on the growth of climate investors and climate assets. Adopting a positivist paradigm, the paper makes use of a quantitative research approach and applies the causal and correlational research design. The paper made use of secondary data from the World Bank Carbon Finance Unit and from the Carbon Disclosure Project (ADP. The major objective was to examine the combined effect of climate finance and climate policy on the growth of carbon investors and carbon assets for the companies in the Carbon Disclosure Project which includes the 100 JSE companies. Findings from the test reveal that the combined effect of growth in climate finance and climate policy evolution has a significant relationship with growth in climate investors and climate assets. Given this result the paper proceeded to examine if the growth in climate finance has any correlation with South Africa’s emission reduction trend. Results however indicate that South Africa’s GHG emission trend does not correlate with climate finance availability; GHG emissions in South Africa have continued to soar despite a seeming growth in climate finance. The paper reasoned that the global climate finance might not be effectively available to corporates in South Africa at the expected level of financing to initiate the expected level of climate investment to effect a significant reduction in greenhouse gas emissions. This confirms literature assertions that global climate finance might not easily be accessible, at least to entities in developing countries. In conclusion, the paper suggests the establishment of a Southern African Climate Finance pool where the public and private sector can contribute and that such pool should be made easily available to carbon investors at a cheap rate with

How to finance new energy-conservation equipment: investment in saving

Energy Technology Data Exchange (ETDEWEB)

Lipscombe, G

1977-11-01

A London banker outlines how companies can finance the new equipment needed to lower fuel consumption and reduce fuel bills. He notes that internal financing is the custom, but that the new urgency placed on efficient plant operation has broadened the options for financing capital projects. Financial considerations involve simple payback periods or a more sophisticated appraisal of an energy project's life-time effect on cash flow. Financiers will take into account whether there is a government grant, fuel cost savings, project costs, and tax allowances, although there are disadvantages in the discount approach. Outside sources of capital include bank drafts, term loans, leasing facilities, hire-purchase, and government loans. Each company must determine the best type of financing for its needs, but the opportunities improve when the energy manager, company accountant, and bank manager understand each other.

Renewable Energy Project Financing: Impacts of the Financial Crisis and Federal Legislation

Energy Technology Data Exchange (ETDEWEB)

Schwabe, P.; Cory, K.; Newcomb, J.

2009-07-01

Extraordinary financial market conditions have disrupted the flows of equity and debt investment into U.S. renewable energy (RE) projects since the fourth quarter of 2008. The pace and structure of renewable energy project finance has been reshaped by a combination of forces, including the financial crisis, global economic recession, and major changes in federal legislation affecting renewable energy finance. This report explores the impacts of these key market events on renewable energy project financing and development.

Corporate Finance: its organization and epistemological basis

Directory of Open Access Journals (Sweden)

Luiz Henrique Herling

2014-08-01

Full Text Available This study aims to show how they are organized studies in financial management and what is the paradigm that support the theories presented until today, contextualizing how financial management is organized within the science of Directors in historical and evolutionary terms . Based on the decisions of the financial manager of investment , financing and operations , the study seeks to show that the philosophical basis that supports the theories developed . Yet for better understanding separates financial management in personal finance , financial markets and corporate finance , the latter being the main focus of the study . In the literature we can divide and stratify studies in corporate finance for a better understanding . By analyzing under an evolutionary approach notes a growing chains in other studies in finance , such as public finance, behavioral finance and here called green finance.

The financing of the petroleum industry in the world; El financiamiento de la industria petrolera en el mundo

Energy Technology Data Exchange (ETDEWEB)

Romo Rico, Daniel; Galina Hidalgo, Sergio [Instituto Mexicano del Petroleo, (Mexico)

2004-06-15

The complexity in the development of the oil industry makes it to be an important requester of financial, technological and human resources. In particular, the subject of the financing receives special relevance because of the determination of assigning resources to the investment implies to face diverse factors of risk that limit the return for the resource providers. The objective of this work is to determine the proportions of the problems to finance the oil industry and to illustrate the different forms of financing more used in the world as much by companies as from by oil countries governments. It is established that there is an ample range of financing alternatives; same that are based on the different contexts faced by the companies and governments. One concludes that exist three large tendencies of study for the problem of the financing in the world: a) the employed by the transnational corporations; b) the one used by independent oil companies and c) the one that is used in the nations with hydrocarbon reserves. [Spanish] La complejidad en el desarrollo de la industria petrolera, le hacen ser una importante demandante de recursos financieros, tecnologicos y humanos. En particular, el tema del financiamiento cobra especial relevancia porque la determinacion de asignar recursos a la inversion implica enfrentar diversos factores de riesgo que limitan el retorno para los proveedores de los recursos. El objetivo de este trabajo es dimensionar la problematica para financiar la industria petrolera e ilustrar las distintas formas de financiamiento mas usadas en el mundo tanto por empresas como por gobiernos de paises petroleros. Se establece que hay una amplia gamma de alternativas de financiamiento, mismas que estan en funcion de los distintos contextos enfrentados por las empresas y gobiernos. Se concluye que existen tres grandes tendencias de estudio para el problema del financiamiento en el mundo: a) el empleado por las corporaciones trasnacionales; b) el

Budget and financing of mental health services: baseline information on 89 countries from WHO's project atlas.

Science.gov (United States)

Saxena, Shekhar; Sharan, Pratap; Saraceno, Benedetto

2003-09-01

Very little information is available on budget and financing of mental health services in the world. During year 2001, WHO collected information from all countries on resources available for mental health care as a part of Project Atlas. The present report seeks to describe the situation regarding federal budgets and financing of mental health care at the country level. It also examines the association between relative allocation of health budget to mental health and mental health policy, programme and resource indicators in 89 countries. The information was collected through a questionnaire (with an accompanying glossary) that was sent to the mental health focal point in the Ministry of Health of each country. Eighty nine countries provided information on their mental health budget as a proportion of health budget. In addition, information was obtained on policy, programme and mental health resource indicators (beds, personnel, services to special population and availability of drugs). The results showed that 32% of 191 countries did not have a specified budget for mental health. Of the 89 countries that supplied the requisite information 36% spent less than 1% of their total health budget on mental health. Many countries from Africa (79%) and the South East Asia (63%) were in this subgroup. Comparison with the Global Burden of Disease data showed a marked disparity between burden and resources. Lower income countries allocated a lesser proportion of their health budget on mental health in comparison to higher income countries. The primary method of financing mental health care in most countries was tax-based (60.2%), but many low-income countries depended on out-of-pocket expenditure (16.4%). The presence of mental health policies and programmes in general was not associated with the proportion of health budget allocated to mental health. Counties categorized based on the proportion of mental health budget to health budget, differed significantly in terms of

Financing Renewable Energy in the European Energy Market

Energy Technology Data Exchange (ETDEWEB)

De Jager, D.; Klessmann, C.; Stricker, E.; Winkel, T.; De Visser, E.; Koper, M. [Ecofys, Utrecht (Netherlands); Ragwitz, M.; Held, A. [Fraunhofer ISI, Karlsruhe (Germany); Resch, G.; Busch, S.; Panzer, C. [Energy Economics Group EEG, Vienna University of Technology, Vienna (Austria); Gazzo, A.; Roulleau, T.; Gousseland, P.; Henriet, M.; Bouille, A. [Ernst and Young, London (United Kingdom)

2011-01-15

The Directive 2009/28/EC on the promotion of the use of energy from renewable sources (RES) sets the overall target to reach 20% renewable energy in gross final energy consumption in 2020. This target is broken down into binding individual Member State targets. Reaching these targets will require a huge mobilization of investments in renewable energies in the coming decade. In order to improve financing and coordination with a view to the achievement of the 20 % target, Article 23 (7) of the Directive requires the Commission to present an analysis and action plan with a view to: (a) The better use of structural funds and framework programmes; (b) The better and increased use of funds from the European Investment Bank and other public finance institutions; (c) Better access to risk capital; (d) The better coordination of Community and national funding and other forms of support; (e) The better coordination in support of renewable energy initiatives whose success depends on action by actors in several Member States. This report presents the results of the title project. The study provides an up to date and thorough assessment of the costs of renewable energy and the support and financing instruments available for renewable energy R and D, demonstration projects and large-scale deployment. This includes details of each Member State's expenditure (via grants, support schemes, loans etc.) and use of Community funds, including loans of the EIB (European Investment Bank) and the EBRD (European Bank for Reconstruction and Development). It also explores the possible instruments for use in the future and constraints in the capital market, which hinder the development of renewable energy. Finally, it develops recommendations for improving financing and support instruments, improving the sector's access to capital, and closing the financing gap for reaching the 2020 targets. The chapters of the report represent separate tasks: (1) Costs of renewable energy

The directory of US coal and technology export resources

Energy Technology Data Exchange (ETDEWEB)

1990-10-01

The purpose of The Directory remains focused on offering a consolidated resource to potential buyers of US coal, coal technology, and expertise. This is consistent with the US policy on coal and coal technology trade, which continues to emphasize export market strategy implementation. Within this context, DOE will continue to support the teaming'' approach to marketing; i.e., vertically integrated large project teams to include multiple industry sectors, such as coal producers, engineering and construction firms, equipment manufacturers, financing and service organizations.

Financing the growth of SMEs in Africa: What are the contraints to SME financing within ECOWAS?

Directory of Open Access Journals (Sweden)

Peter Quartey

2017-06-01

Full Text Available This study attempts to provide some understanding about SMEs’ access to finance within the West African sub-region with particular interest in establishing whether there are similarities and/or differences in the determinants of SMEs access to finance across countries in SSA. For robustness sake, we developed both subjective and objective measures of access to finance. Using data from World Bank’s Enterprise Survey data set, we examine the determinants of access to finance both at the sub-regional level and at the country-level. We found that, generally, at the sub-regional level, access to finance is strongly determined by factors such as firm size, ownership, strength of legal rights, and depth of credit information, firm’s export orientation and the experience of the top manager. However, we found important differences in the correlates of firms’ access to finance at the country level. The findings of this study therefore have important implications for policy.

Project finance in Campos Basin; O 'Project Finance' na auto-suficiencia

Energy Technology Data Exchange (ETDEWEB)

D' Almeida, Albino Lopes; Mendonca, Roberto Wagner [PETROBRAS, Rio de Janeiro, RJ (Brazil)

2008-07-01

The present conquest of the self-sufficiency is a result of 3 decades of investments that started with the discovery of the well 1-RJS-9A in 1974. The second leap was the discovery of giant fields in the 1980 including Marlim (1984) and Albacora (1985) among others. This first two conquests were basically technical and were recognized by the OTC in 1991 and 2000. The third leap was the utilization of project finance structures. We examine the role of project finance in the main projects developed by the PETROBRAS E and P - Exploration and Production - segment in the Campos Basin region. These projects allowed PB to invest more than US$ 6 billion dollars in a five year interval increasing production in 12 oil fields by 75% in a 7 years interval which later enabled PB to be self-sufficient in oil production. The financial structures of Albacora, Barracuda, EVM and Marlim are shown and discussed in various aspects which including structure, schedule, conditionalities, warranties, management of the SPEs and relationship with international agencies. Considering the present quest of developing Tupi and Jupiter which might represent investments around US$ 80 billion and it's impacts to the PETROBRAS capital structure and risk this might be a useful discussion. (author)

To finance the transition

International Nuclear Information System (INIS)

Regnier, Yannick; Maciel, Guillaume; Zeroual, Bouchra; Leca, Christel; Guillou, Maelle; Mossalgue, Marc; Raguet, Alex; Sabot, Guillaume; Coton, Patrice; Olesen, Gunnar Boye; Friggens, Sam; Pouyet, Regis; Blanc, Nicolas; Laurent, Pierre; Ruedinger, Andreas

2013-01-01

A set of brief articles illustrates the emergence of innovating and operational financing tools aimed at supporting energy transition in France and in Europe. As far as France is concerned, different examples are evoked: raising local savings, crowd-funding for renewable energies, citizen investment, cooperation between industries, communities and citizens, a semi-public company with citizen participation, the case of the Nancy urban community, a joint experience by a local public company and an investment fund. As far as Europe is concerned, the following topics or examples are evoked: local policies as lever for European financing, the Danish example of citizen-based financing, crowd-funding in the UK, the European emergence of cooperatives. As far as banks and institutions are concerned, the following topics are addressed: tools implemented by the Caisse des Depots for energy transition, the roles of banks and of public institutions in the financing of energy transition

Threshold concepts in finance: student perspectives

Science.gov (United States)

Hoadley, Susan; Kyng, Tim; Tickle, Leonie; Wood, Leigh N.

2015-10-01

Finance threshold concepts are the essential conceptual knowledge that underpin well-developed financial capabilities and are central to the mastery of finance. In this paper we investigate threshold concepts in finance from the point of view of students, by establishing the extent to which students are aware of threshold concepts identified by finance academics. In addition, we investigate the potential of a framework of different types of knowledge to differentiate the delivery of the finance curriculum and the role of modelling in finance. Our purpose is to identify ways to improve curriculum design and delivery, leading to better student outcomes. Whilst we find that there is significant overlap between what students identify as important in finance and the threshold concepts identified by academics, much of this overlap is expressed by indirect reference to the concepts. Further, whilst different types of knowledge are apparent in the student data, there is evidence that students do not necessarily distinguish conceptual from other types of knowledge. As well as investigating the finance curriculum, the research demonstrates the use of threshold concepts to compare and contrast student and academic perceptions of a discipline and, as such, is of interest to researchers in education and other disciplines.

Risk Analysis of Telecom Enterprise Financing

Institute of Scientific and Technical Information of China (English)

YU Hua; SHU Hua-ying

2005-01-01

The main research objects in this paper are the causes searching and risk estimating method for telecom enterprises' financial risks. The multi-mode financing for telecom enterprises makes it flexible to induce the capital and obtain the profit by corresponding projects. But there are also potential risks going with these financing modes. After making analysis of categories and causes of telecom enterprises' financing risk, a method by Analytic Hierarchy Process (AHP) is put forward to estimating the financing risk. And the author makes her suggestion and opinion by example analysis, in order to provide some ideas and basis for telecom enterprise's financing decision-making.

Analysis of Project Finance | Energy Analysis | NREL

Science.gov (United States)

Analysis of Project Finance Analysis of Project Finance NREL analysis helps potential renewable energy developers and investors gain insights into the complex world of project finance. Renewable energy project finance is complex, requiring knowledge of federal tax credits, state-level incentives, renewable

Health financing and integration of urban and rural residents' basic medical insurance systems in China.

Science.gov (United States)

Zhu, Kun; Zhang, Luying; Yuan, Shasha; Zhang, Xiaojuan; Zhang, Zhiruo

2017-11-07

China is in the process of integrating the new cooperative medical scheme (NCMS) and the urban residents' basic medical insurance system (URBMI) into the urban and rural residents' basic medical insurance system (URRBMI). However, how to integrate the financing policies of NCMS and URBMI has not been described in detail. This paper attempts to illustrate the differences between the financing mechanisms of NCMS and URBMI, to analyze financing inequity between urban and rural residents and to identify financing mechanisms for integrating urban and rural residents' medical insurance systems. Financing data for NCMS and URBMI (from 2008 to 2015) was collected from the China health statistics yearbook, the China health and family planning statistics yearbook, the National Handbook of NCMS Information, the China human resources and social security statistics yearbook, and the China social security yearbook. "Ability to pay" was introduced to measure inequity in health financing. Individual contributions to NCMS and URBMI as a function of per capita disposable income was used to analyze equity in health financing between rural and urban residents. URBMI had a financing mechanism that was similar to that used by NCMS in that public finance accounted for more than three quarters of the pooling funds. The scale of financing for NCMS was less than 5% of the per capita net income of rural residents and less than 2% of the per capita disposable income of urban residents for URBMI. Individual contributions to the NCMS and URBMI funds were less than 1% of their disposable and net incomes. Inequity in health financing between urban and rural residents in China was not improved as expected with the introduction of NCMS and URBMI. The role of the central government and local governments in financing NCMS and URBMI was oscillating in the past decade. The scale of financing for URRBMI is insufficient for the increasing demands for medical services from the insured. The pooling fund

Community Crowd-Funded Solar Finance

Energy Technology Data Exchange (ETDEWEB)

Jagerson, Gordon " Ty" [Village Power Finance, Palo Alto, CA (United States)

2016-07-08

The award supported the demonstration and development of the Village Power Platform, which enables community organizations to more readily develop, finance and operate solar installations on local community organizations. The platform enables partial or complete local ownership of the solar installation. The award specifically supported key features including financial modeling tools, community communications tools, crowdfunding mechanisms, a mobile app, and other critical features.

Redesigning School Finance Systems: Lessons from CPRE Research. CPRE Policy Briefs. RB-50

Science.gov (United States)

Odden, Allan

2007-01-01

This policy brief describes how the Consortium for Policy Research in Education (CPRE) has approached the objectives of educational equity and adequacy over the past decade and a half, and reveals how their current finance research has begun to explicitly link the level and use of resources with strategies that districts and schools can deploy to…

Exploring the private finance initiative as a route to finance for renewable energy projects

Energy Technology Data Exchange (ETDEWEB)

NONE

2000-07-01

This report reviews the private financing of public sector Renewable Energy projects through the Private Finance Initiative (PFI), and the relevance of such a technique to the renewables industry generally. (author)

Problems of formation of the financial resources of small businesses

Directory of Open Access Journals (Sweden)

Gorbunova Irina Ivanovna

2014-05-01

Full Text Available Article is devoted problems of formation of financial resources of small enterprises. In article kinds and sources of financing of small enterprises are analysed, the estimation of influence of external and internal factors on formation of financial resources of small enterprises is given.

Financing climate change adaptation

NARCIS (Netherlands)

Bouwer, L.M.; Aerts, J.C.J.H.

2006-01-01

This paper examines the topic of financing adaptation in future climate change policies. A major question is whether adaptation in developing countries should be financed under the 1992 United Nations Framework Convention on Climate Change (UNFCCC), or whether funding should come from other sources.

48 CFR 632.114 - Unusual contract financing.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Unusual contract financing. 632.114 Section 632.114 Federal Acquisition Regulations System DEPARTMENT OF STATE GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 632.114 Unusual contract financing. The...

48 CFR 2432.114 - Unusual contract financing.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Unusual contract financing... DEVELOPMENT GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 2432.114 Unusual contract financing. The Senior Procurement Executive is the agency head for the purpose of...

Mathematical finance theory review and exercises from binomial model to risk measures

CERN Document Server

Gianin, Emanuela Rosazza

2013-01-01

The book collects over 120 exercises on different subjects of Mathematical Finance, including Option Pricing, Risk Theory, and Interest Rate Models. Many of the exercises are solved, while others are only proposed. Every chapter contains an introductory section illustrating the main theoretical results necessary to solve the exercises. The book is intended as an exercise textbook to accompany graduate courses in mathematical finance offered at many universities as part of degree programs in Applied and Industrial Mathematics, Mathematical Engineering, and Quantitative Finance.

Resource Use Productivity Among Small-Scale Farmers In Yola ...

African Journals Online (AJOL)

The findings of the study revealed that characteristics of the farmers such as age, level of education, farm size, sources of farm labour and of farm finance do not have significant relationship with resource use productivity. However, net annual income from farming was found to have a significant relationship with resource ...

Finance and supply management project execution plan

Energy Technology Data Exchange (ETDEWEB)

BENNION, S.I.

1999-02-10

As a subproject of the HANDI 2000 project, the Finance and Supply Management system is intended to serve FDH and Project Hanford major subcontractor with financial processes including general ledger, project costing, budgeting, and accounts payable, and supply management process including purchasing, inventory and contracts management. Currently these functions are performed with numerous legacy information systems and suboptimized processes.

Statistics and finance an introduction

CERN Document Server

Ruppert, David

2004-01-01

This textbook emphasizes the applications of statistics and probability to finance. Students are assumed to have had a prior course in statistics, but no background in finance or economics. The basics of probability and statistics are reviewed and more advanced topics in statistics, such as regression, ARMA and GARCH models, the bootstrap, and nonparametric regression using splines, are introduced as needed. The book covers the classical methods of finance such as portfolio theory, CAPM, and the Black-Scholes formula, and it introduces the somewhat newer area of behavioral finance. Applications and use of MATLAB and SAS software are stressed. The book will serve as a text in courses aimed at advanced undergraduates and masters students in statistics, engineering, and applied mathematics as well as quantitatively oriented MBA students. Those in the finance industry wishing to know more statistics could also use it for self-study. David Ruppert is the Andrew Schultz, Jr. Professor of Engineering, School of Oper...

Developing financeable projects in Central Europe

Energy Technology Data Exchange (ETDEWEB)

Chelberg, R.; Prerad, V. [POWER International, Josefov (Czechoslovakia)

1995-12-01

POWER`s engineering and development experience in the Czech Republic creating financeable projects within the power generation industry will be presented. POWER has been involved in the Czech Republic`s privatization process, environmental legislation as well as formation of the regulatory environment. Strategic methods for accomplishing the development of financeable projects often include ownership and financial restructuring of the projects. This is done by utilizing internal cash flows, external debt and equity placement (provided by international financial institutions) by restructuring the facility`s contractual relationships and operations (providing as least cost solution to engineering) and possibly using existing governmental guarantees. In order to make any recommendations on how to come into compliance with the country`s environmental legislation, it is necessary to begin with an analysis of the existing facility. This involves preparation of technical and economic feasibility study, evaluation of technology and preliminary engineering solutions. It further involves restructuring of power sales agreements, heat sales agreements, and fuel supply agreements. The goal is to provide suitable security for the equity and debt financing participants by mitigating risk and creating a single purpose business unit with predictable life and economics.

Development of project financing in Russia

Directory of Open Access Journals (Sweden)

Nikonova Irina Aleksandrovna

2012-07-01

Full Text Available The implementation of effective investment projects is essential to the modernization of the Russian economy and its transition to a high-tech way of development. The most complex and risky form of financing projects is project financing (Project Finance.

Financing structure for the hydroelectric sector: the Companhia Energetica de Sao Paulo - CESP case; Estrutura de financiamento do setor hidreletrico: o caso da CESP

Energy Technology Data Exchange (ETDEWEB)

Leme, Thomaz Garcez

1987-12-31

The objective of this dissertation is to study the financial resources made use by Companhia Energetica de Sao Paulo - CESP - for its implantation and later expansion, during the period of 1967 to 1980. The motivation in developing this subject originated of CESP`s importance in the Brazilian electric power sector. The dissertation is divided into three chapters. The first chapter describes the power sector in the state of Sao Paulo before CESP`s creation and after its consolidation. The second chapter studies some matter that shows the importance of company in the Brazilian power sector. In the third chapter, we study the performance of own resources and the third resources in CESP`s financing. At the end of the study the most important conclusion is that the own resources, more than third resources, were the prime motive liable in CESP`s financing during the period. (author) 102 refs., 23 figs.

Financing structure for the hydroelectric sector: the Companhia Energetica de Sao Paulo - CESP case; Estrutura de financiamento do setor hidreletrico: o caso da CESP

Energy Technology Data Exchange (ETDEWEB)

Leme, Thomaz Garcez

1988-12-31

The objective of this dissertation is to study the financial resources made use by Companhia Energetica de Sao Paulo - CESP - for its implantation and later expansion, during the period of 1967 to 1980. The motivation in developing this subject originated of CESP`s importance in the Brazilian electric power sector. The dissertation is divided into three chapters. The first chapter describes the power sector in the state of Sao Paulo before CESP`s creation and after its consolidation. The second chapter studies some matter that shows the importance of company in the Brazilian power sector. In the third chapter, we study the performance of own resources and the third resources in CESP`s financing. At the end of the study the most important conclusion is that the own resources, more than third resources, were the prime motive liable in CESP`s financing during the period. (author) 102 refs., 23 figs.

48 CFR 32.007 - Contract financing payments.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Contract financing... GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING 32.007 Contract financing payments. (a)(1) Unless... section, the due date for making contract financing payments by the designated payment office is the 30th...

48 CFR 432.007 - Contract financing payments.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Contract financing... CONTRACTING REQUIREMENTS CONTRACT FINANCING 432.007 Contract financing payments. The HCA may prescribe, on a case-by-case basis, a shorter period for financing payments. [61 FR 53646, Oct. 15, 1996. Redesignated...

Overcoming SMEs Financing and Supply Chain Obstacles by Introducing Supply Chain Finance

Directory of Open Access Journals (Sweden)

Abbasi Waseem Ahmed

2018-05-01

Full Text Available Keeping in view the importance of small and medium enterprises (SMEs for the growth of a nation, we must also keep an eye on the challenges faced by those SMEs. There are various kinds of financing and supply chain options available for SMEs but they still face lot of hindrances. This paper would help us to understand why SMEs are important for the development of any country and how could we help the SMEs from facing challenges related to financing and supply chain. This study further highlights the key financing issues faced by SMEs and also focuses on major supply chain challenges confronted by the SMEs. This study put emphasis on the concept of supply chain finance (SCF and that how SCF could help SMEs to overcome those challenges. In addition, this paper also points out the benefits and prospects of SMEs. Even though the concept of SCF is still in developing phase but it has shown significant assistance to SMEs in order to grow further.

New directions in electric power financing

International Nuclear Information System (INIS)

Jechoutek, K.G.; Lamech, Ranjit

1995-01-01

This paper argues that it is necessary to raise the eyes from the current focus on independent power projects, buttressed by guarantees, to the longer horizon of electric power financing in open markets. Transitional strategies will need to move beyond the commonly seen IPP activity that occurs without fundamental sector reform, and demand-side incentives that introduce further market distortions. These efforts will have to focus on macroeconomic stabilization, removal of price distortions, as well as sector and corporate reform. Mobilization of domestic capital will be essential for sustainable sector financing. Although guarantees to encourage power sector investment can be designed to selectively cover risks, their elimination through fundamental sector reform should be the ultimate goal. Over the longer-term traditional corporate finance should become a more common financing strategy than project finance. Innovations in performance risk management and consumer credit will be crucial to the financing of energy efficiency. (author)

Health financing for universal coverage and health system performance: concepts and implications for policy.

Science.gov (United States)

Kutzin, Joseph

2013-08-01

Unless the concept is clearly understood, "universal coverage" (or universal health coverage, UHC) can be used to justify practically any health financing reform or scheme. This paper unpacks the definition of health financing for universal coverage as used in the World Health Organization's World health report 2010 to show how UHC embodies specific health system goals and intermediate objectives and, broadly, how health financing reforms can influence these. All countries seek to improve equity in the use of health services, service quality and financial protection for their populations. Hence, the pursuit of UHC is relevant to every country. Health financing policy is an integral part of efforts to move towards UHC, but for health financing policy to be aligned with the pursuit of UHC, health system reforms need to be aimed explicitly at improving coverage and the intermediate objectives linked to it, namely, efficiency, equity in health resource distribution and transparency and accountability. The unit of analysis for goals and objectives must be the population and health system as a whole. What matters is not how a particular financing scheme affects its individual members, but rather, how it influences progress towards UHC at the population level. Concern only with specific schemes is incompatible with a universal coverage approach and may even undermine UHC, particularly in terms of equity. Conversely, if a scheme is fully oriented towards system-level goals and objectives, it can further progress towards UHC. Policy and policy analysis need to shift from the scheme to the system level.

Numerical methods in finance and economics a MATLAB-based introduction

CERN Document Server

Brandimarte, Paolo

2006-01-01

A state-of-the-art introduction to the powerful mathematical and statistical tools used in the field of financeThe use of mathematical models and numerical techniques is a practice employed by a growing number of applied mathematicians working on applications in finance. Reflecting this development, Numerical Methods in Finance and Economics: A MATLAB?-Based Introduction, Second Edition bridges the gap between financial theory and computational practice while showing readers how to utilize MATLAB?--the powerful numerical computing environment--for financial applications.The author provides an essential foundation in finance and numerical analysis in addition to background material for students from both engineering and economics perspectives. A wide range of topics is covered, including standard numerical analysis methods, Monte Carlo methods to simulate systems affected by significant uncertainty, and optimization methods to find an optimal set of decisions.Among this book''s most outstanding features is the...

48 CFR 2832.114 - Unusual contract financing.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Unusual contract financing... Contracting Requirements CONTRACT FINANCING Non-Commercial Item Purchase Financing 2832.114 Unusual contract financing. The HCA, or designee at a level not lower than the BPC, is the official authorized to approve...

Third party financing of renewable energy sources

International Nuclear Information System (INIS)

1994-01-01

The Institut of Energy Saving and Diversification (IDAE) hosted the third party on financing Renewable Energy Sources in Spain. The main aspects were : 1) Experiences in renewable energy. 2) Financing of small hydro-power projects. 3) Third party financing of biomass projects. 4) Financing of wind energy projects

78 FR 33755 - Project Financing Loans

Science.gov (United States)

2013-06-05

... CFR Part 1710 [0572-AC21] Project Financing Loans AGENCY: Rural Utilities Service, USDA. ACTION... also considering regulations to clarify the agency's procedures for single asset/project financing... parameters necessary to more effectively and prudently use project financing in the RUS electric loan program...

PROJECT FINANCE THE ROLE OF EXPORT CREDIT AGENCIES IN PROJECT FINANCE

OpenAIRE

Fatma Ceren YALCIN

2013-01-01

The functions of Export Credit Agencies have an important place in the economies of countries in terms of contribution to economic growth. The developed countries follow various policies and constitute institutions for the development and support of export and export financing. Every country develops its own export-financing mechanism, according to its own economic situation within the existing legal framework. However, the privatization and economic deregulation actions in the approaches to ...

Proceedings of the 1992 SPE oil and gas economics, finance and management conference

International Nuclear Information System (INIS)

Anon.

1992-01-01

This volume contains the proceedings of the SPE 1992 Oil and Gas Economics, Finance and Management Conference. Topics covered include: Iran's petroleum industry, planning and control of reserves, natural gas supply and demand. petroleum investment and exploration contracts, and project financing

Solar Village in Malaysia – A Route Map for Financing Mechanism

Directory of Open Access Journals (Sweden)

Ahmad Nur Azfahani

2016-01-01

Full Text Available Malaysia’s development has been largely financed from its fossil fuels resources that come principally from the South China Sea. This has enabled electricity to be distributed equitably throughout society and improved the quality of life for people in Malaysia. However, the depletion of fossil fuel resources and the international conflict over South China Sea territorial ownership may leads to inadequacy of supply in the future, and may give direct impact to people in the rural areas. Malaysia’s greatest potential for solar energy comes from photovoltaics (PVs and the large roofs of village houses offer significant potential to contribute electricity both nationally and to the local communities. However, this technology is still unfamiliar to the people living in local villages due to the subsidised electricity by TNB and high capital costs of PV systems. This paper investigates whether establishing a “solar village” is feasible in Malaysia. Through a cost feasibility analysis, the potential of harnessing solar electricity for local villages in Malaysia has been demonstrated. A novel mechanism has been presented that allows rural households to own PV panels, rent the grid cables and to share surplus electricity within the community through a three (3 way financing routes map.

Challenges to micro-financing PLWHA clients in Rwanda : a study based on vision finance, a world vision mico-finance institution, Kigali Branch

NARCIS (Netherlands)

Muyinda, B.

2008-01-01

The study was conducted on Vision Finance a microfinance institution of World Vision in Rwanda. The major research question focussed on determining the factors that have contributed default on loans disbursed to PLWHA clients by Vision Finance. Results show that chronic illness and death disrupt

Financing landfill gas projects

International Nuclear Information System (INIS)

Bull, R.

1992-01-01

The problems of financing landfill gas projects in the UK in the last few years are discussed. The approach of the author in setting up a company to finance such projects in the power generation field and a separate company to design and supply turnkey packages is reported. (UK)

Novel software system development for finance

OpenAIRE

Maad, Soha

2002-01-01

This paper addresses the need for novel software system development (SSD) practices in finance. It proposes Empirical Modelling as a novel approach for SSD in finance. This approach aims at finding a suitable framework for studying both the traditional and the emerging computing culture to SSD in finance. First, the paper studies the change in the financial industry and identifies key issues of the application of computer-based technology in finance. These key issues are framed in a wider age...

Financing and current capacity for REDD+ readiness and monitoring, measurement, reporting and verification in the Congo Basin.

Science.gov (United States)

Maniatis, Danae; Gaugris, Jérôme; Mollicone, Danilo; Scriven, Joel; Corblin, Alexis; Ndikumagenge, Cleto; Aquino, André; Crete, Philippe; Sanz-Sanchez, Maria-José

2013-01-01

This paper provides the first critical analysis of the financing and current capacity for REDD+ readiness in the Congo Basin, with a particular focus on the REDD+ component of national forest monitoring and measurement, reporting and verification (M&MRV). We focus on three areas of analysis: (i) general financing for REDD+ readiness especially M&MRV; (ii) capacity and information for REDD+ implementation and M&MRV; (iii) prospects and challenges for REDD+ and M&MRV readiness in terms of financing and capacity. For the first area of analysis, a REDD+ and M&MRV readiness financing database was created based on the information from the REDD+ voluntary database and Internet searches. For the second area of analysis, a qualitative approach to data collection was adopted (semi-structured interviews with key stakeholders, surveys and observations). All 10 countries were visited between 2010 and 2012. We find that: (i) a significant amount of REDD+ financing flows into the Congo Basin (±US$550 million or almost half of the REDD+ financing for the African continent); (ii) across countries, there is an important disequilibrium in terms of REDD+ and M&MRV readiness financing, political engagement, comprehension and capacity, which also appears to be a key barrier to countries receiving equal resources; (iii) most financing appears to go to smaller scale (subnational) REDD+ projects; (iv) four distinct country groups in terms of REDD+ readiness and M&MRV status are identified; and (v) the Congo Basin has a distinct opportunity to have a specific REDD+ financing window for large-scale and more targeted national REDD+ programmes through a specific fund for the region.

Financing and current capacity for REDD+ readiness and monitoring, measurement, reporting and verification in the Congo Basin

Science.gov (United States)

Maniatis, Danae; Gaugris, Jérôme; Mollicone, Danilo; Scriven, Joel; Corblin, Alexis; Ndikumagenge, Cleto; Aquino, André; Crete, Philippe; Sanz-Sanchez, Maria-José

2013-01-01

This paper provides the first critical analysis of the financing and current capacity for REDD+ readiness in the Congo Basin, with a particular focus on the REDD+ component of national forest monitoring and measurement, reporting and verification (M&MRV). We focus on three areas of analysis: (i) general financing for REDD+ readiness especially M&MRV; (ii) capacity and information for REDD+ implementation and M&MRV; (iii) prospects and challenges for REDD+ and M&MRV readiness in terms of financing and capacity. For the first area of analysis, a REDD+ and M&MRV readiness financing database was created based on the information from the REDD+ voluntary database and Internet searches. For the second area of analysis, a qualitative approach to data collection was adopted (semi-structured interviews with key stakeholders, surveys and observations). All 10 countries were visited between 2010 and 2012. We find that: (i) a significant amount of REDD+ financing flows into the Congo Basin (±US$550 million or almost half of the REDD+ financing for the African continent); (ii) across countries, there is an important disequilibrium in terms of REDD+ and M&MRV readiness financing, political engagement, comprehension and capacity, which also appears to be a key barrier to countries receiving equal resources; (iii) most financing appears to go to smaller scale (subnational) REDD+ projects; (iv) four distinct country groups in terms of REDD+ readiness and M&MRV status are identified; and (v) the Congo Basin has a distinct opportunity to have a specific REDD+ financing window for large-scale and more targeted national REDD+ programmes through a specific fund for the region. PMID:23878337

7 CFR 1738.19 - Facilities financed.

Science.gov (United States)

2010-01-01

... AGRICULTURE RURAL BROADBAND ACCESS LOANS AND LOAN GUARANTEES Loan Purposes and Basic Policies § 1738.19 Facilities financed. (a) RUS makes broadband loans to finance the construction, improvement, and acquisition... broadband loans to finance broadband facilities leased under the terms of a capital lease as defined in...

Why Finance Should Care about Ecology

NARCIS (Netherlands)

Scholtens, Lambertus

Finance ignores ecosystems, which has resulted in a growing list of environmental and social problems. In this article, the importance of ecology for finance is assessed. We suggest The piece also suggests that the financial intermediation perspective can align finance and ecology for the benefit of

The financing behavior of Dutch firms

NARCIS (Netherlands)

Chen, Linda H.; Jiang, George J.

2001-01-01

This paper investigates the financing behaviour of Dutch firms by testing whether a firm’s financing decisions are determined by certain factors identified in various theories. Since a firm’s financing decision is reflected in the changes of its leverage, our research focuses on the relationship

Understanding the working relationships between National Health Service clinicians and finance staff.

Science.gov (United States)

Minogue, Virginia; McCaffry, Rebecca

2017-03-13

Purpose The Department of Health and the National Health Service (NHS) Future Focused Finance (FFF) programme promotes effective engagement between clinical and finance staff. Surveys undertaken by the Department of Health between 2013 and 2015 found few NHS Trusts reported high levels of engagement. The purpose of this paper is to gain a better understanding of current working relationships between NHS clinical and finance professionals and how they might be supported to become more effective. Design/methodology/approach Ipsos MORI were commissioned by the NHS FFF programme to undertake an online survey of NHS clinical and finance staff between June and August 2015. Findings The majority of clinicians had a member of a finance team linked to their speciality or directorate. Clinical and finance professionals have a positive view of joint working preferring face-to-face contact. Clinician's confidence in their understanding of finance was generally good and finance staff felt they had a good understanding of clinical issues. Effective working relationships were facilitated by face-to-face contact, a professional relationship, and the availability of clear, well presented finance and activity data. Research limitations/implications Data protection issues limited the accessibility of the survey team to NHS staff resulting in a relatively low-response rate. Other forms of communication, including social media, were utilised to increase access to the survey. Originality/value The FFF programme is a unique programme aimed at making the NHS finance profession fit for the future. The close partnering work stream brings together the finance and clinical perspective to share knowledge, evidence, training, and to develop good practice and engagement.

48 CFR 32.105 - Uses of contract financing.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Uses of contract financing... CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 32.105 Uses of contract financing. (a) Contract financing methods covered in this part are intended to be self-liquidating through...

Finance and the nuclear industry

International Nuclear Information System (INIS)

Radtke, G.G.

1983-01-01

The subject is discussed under the headings: the energy situation today; energy investment and capital requirements (finding the necessary funds); further possibilities; future financing (project financing); summary. (U.K.)

Third party financing of renewable energy sources

International Nuclear Information System (INIS)

IDAE.

1994-01-01

IDAE (Institute of Energy Saving and Diversification) Hosted the Third party on financing renewable energy sources. The meeting was articulated into chapters: 1.- Experiences in the renewable energy field. 2.- Third party financing of small hydro-power projects. 3.- Third party financing of biomass projects. 4.- Third party financing of wind energy projects

Technical Training Seminar: Physicists in the world of finance

CERN Multimedia

Davide Vitè

2006-01-01

Monday 27 February TECHNICAL TRAINING SEMINAR from 14:00 to 16:00, Council Chamber (bldg. 503) Physicists in the world of finance Oliver Cooke, Zhengyun Hu / LEHMAN BROTHERS (UK) Two PhD physicists will talk about their experiences of working in investment banking, describing what investment banks do and the jobs which attract physicists and engineers. They will introduce the derivatives markets, and explain the need for advanced modelling. In particular, they will present the many modelling techniques used, including Monte Carlo simulation, solving PDEs, stochastic calculus and data analysis. They will describe a typical day for a physicist in the world of finance, and present a case study in which they will show how they used an idea from physics to solve a finance problem. After a PhD and CERN fellowship on OPAL in the 1990s, Oliver Cooke moved to finance. He was initially a mathematical modeller of derivatives, and now is an exotic derivatives trader at Lehman Brothers in London. He will be j...

Financing Sustainable Small-Scale Forestry: Lessons from Developing National Forest Financing Strategies in Latin America

Directory of Open Access Journals (Sweden)

Herman Savenije

2010-12-01

Full Text Available The problems that hamper the financing of sustainable forest management (SFM are manifold and complex. However, forestry is also facing unprecedented opportunities. The multiple functions and values of forests are increasingly recognized as part of the solution to pressing global issues (e.g., climate change, energy scarcity, poverty, environmental degradation, biodiversity loss and raw material supply. Emerging initiatives to enhance forest carbon stocks and cut greenhouse gas emissions associated with forest clearing (known as REDD+, together with voluntary carbon markets, are offering additional funding options for SFM. Indigenous peoples, local communities and small scale farmers feature as key players in the discourse on implementing such initiatives. Based on the experience of countries developing national forest financing strategies and instruments, we suggest the following points be considered when financing such initiatives, particularly for small scale forestry: (1 Integrate financing of REDD+ and similar initiatives within broader national strategies for SFM financing; (2 Design REDD+ finance mechanisms that are ‘community ready’, i.e., tailored to local realities; (3 Consider existing livelihood strategies as the starting point; (4 Build on existing structures, but be mindful of their strengths and weaknesses; (5 Be strategic with your priority actions; and (6 Promote innovation, knowledge sharing and information exchange.

Health financing reform in Uganda: How equitable is the proposed National Health Insurance scheme?

Directory of Open Access Journals (Sweden)

Orem Juliet

2010-10-01

Full Text Available Abstract Background Uganda is proposing introduction of the National Health Insurance scheme (NHIS in a phased manner with the view to obtaining additional funding for the health sector and promoting financial risk protection. In this paper, we have assessed the proposed NHIS from an equity perspective, exploring the extent to which NHIS would improve existing disparities in the health sector. Methods We reviewed the proposed design and other relevant documents that enhanced our understanding of contextual issues. We used the Kutzin and fair financing frameworks to critically assess the impact of NHIS on overall equity in financing in Uganda. Results The introduction of NHIS is being proposed against the backdrop of inequalities in the distribution of health system inputs between rural and urban areas, different levels of care and geographic areas. In this assessment, we find that gradual implementation of NHIS will result in low coverage initially, which might pose a challenge for effective management of the scheme. The process for accreditation of service providers during the first phase is not explicit on how it will ensure that a two-tier service provision arrangement does not emerge to cater for different types of patients. If the proposed fee-for-service mechanism of reimbursing providers is pursued, utilisation patterns will determine how resources are allocated. This implies that equity in resource allocation will be determined by the distribution of accredited providers, and checks put in place to prohibit frivolous use. The current design does not explicitly mention how these two issues will be tackled. Lastly, there is no clarity on how the NHIS will fit into, and integrate within existing financing mechanisms. Conclusion Under the current NHIS design, the initial low coverage in the first years will inhibit optimal achievement of the important equity characteristics of pooling, cross-subsidisation and financial protection. Depending

7 CFR 1738.21 - Interim financing.

Science.gov (United States)

2010-01-01

... 7 Agriculture 11 2010-01-01 2010-01-01 false Interim financing. 1738.21 Section 1738.21... Interim financing. (a) Upon notification by RUS that an applicant's application is considered complete, the applicant may enter into an interim financing agreement with a lender other than RUS or use its...

The development plan: the public and public finance Plan de desarrollo: lo público y las finanzas públicas

Directory of Open Access Journals (Sweden)

Giraldo César

1999-06-01

Full Text Available The development plan takes a traditional approach to public finance which consists of analyzing if financing is sufficient, which is no longer valid since government programs should not necessarily be financed with public resources and undertaken by the State; they could be financed with private resources and undertaken by the private sector. Paradoxically, this is how i t is expressed in' the Plan: "State intervention does not mean that the supply of social services should be exclusively by the State. On the contrary, this Plan considers that this policy should mobilize all classes to participa te in the direction, execution, and evaluation of the resul ts of social programs".El plan de desarrollo adopta un enfoque tradicional de las finanzas publicas que consiste en analizar si el financiamiento es suficiente y que ya no tiene validez puesto que los programas de gobierno no necesariamente deben ser financiados con recursos publicos y acometidos por el estado; pueden ser financiados con recursos privados y acometidos por el sector privado. Paradojicamente, asi lo expresa el plan: "La intervencion del Estado no significa que la oferta de servicios sociales deba ser exclusivamente estatal. Por el contrario, en este plan se considera que esta politica debe movilizar a todos los estamentos para participar en la direccion, ejecucion y evaluacion de resultados de los programas sociales".

Why Finance Should Care about Ecology.

Science.gov (United States)

Scholtens, Bert

2017-07-01

Finance ignores ecosystems, which has resulted in a growing list of environmental and social problems. In this article, the importance of ecology for finance is assessed. We suggest The piece also suggests that the financial intermediation perspective can align finance and ecology for the benefit of society. This requires that financial institutions account for information about the impact of finance on the environment and vice versa, and that they are held accountable by their supervisors in this domain. Copyright © 2017 Elsevier Ltd. All rights reserved.

Workshop on Advanced Modelling in Mathematical Finance : in Honour of Ernst Eberlein

CERN Document Server

Papapantoleon, Antonis

2016-01-01

This Festschrift resulted from a workshop on “Advanced Modelling in Mathematical Finance” held in honour of Ernst Eberlein’s 70th birthday, from 20 to 22 May 2015 in Kiel, Germany. It includes contributions by several invited speakers at the workshop, including several of Ernst Eberlein’s long-standing collaborators and former students. Advanced mathematical techniques play an ever-increasing role in modern quantitative finance. Written by leading experts from academia and financial practice, this book offers state-of-the-art papers on the application of jump processes in mathematical finance, on term-structure modelling, and on statistical aspects of financial modelling. It is aimed at graduate students and researchers interested in mathematical finance, as well as practitioners wishing to learn about the latest developments.

Problems of transition from tax-based system of health care finance to mandatory health insurance model in Russia.

Science.gov (United States)

Shishkin, S

1999-06-01

This article examines three problems burdening the Russian system of health care finance in transition period: (a) unrealistic government promise to cover health care coverage too wide to be achieved with available resources; (b) inefficient management of health care delivery systems; and (c) lack in evidence of actual positive changes effected by the new players: mandatory health insurance carriers and funds. Radical reshaping of the health benefits promised by the government and introduction of patient co-payments are considered as a way to normalize public health sector finance and operations. Two alternative approaches to the reform of the existing eclectic system of health care management are available. Institutional preconditions for operational effectiveness of third-party purchasers of health services in public-financed health sector are defined.

Making fair decisions about financing care for persons with AIDS.

Science.gov (United States)

Roper, W L; Winkenwerder, W

1988-01-01

An estimated 40 percent of the nation's 55,000 persons with acquired immunodeficiency syndrome (AIDS) have received care under the Medicaid Program, which is administered by the Health Care Financing Administration (HCFA) and funded jointly by the Federal Government and the States. In fiscal year 1988, Medicaid will spend between $700 and $750 million for AIDS care and treatment. Medicaid spending on AIDS is likely to reach $2.4 billion by fiscal year 1992, an estimate that does not include costs of treatment with zidovudine (AZT). Four policy principles are proposed for meeting this new cost burden in a way that is fair, responsive, efficient, and in harmony with our current joint public-private system of health care financing. The four guidelines are to (a) treat AIDS as any other serious disease, without the creation of a disease-specific entitlement program; (b) bring AIDS treatment financing into the mainstream of the health care financing system, making it a shared responsibility and promoting initiatives such as high-risk insurance pools: (c) give States the flexibility to meet local needs, including Medicaid home care and community-based care services waivers; (d) encourage health care professionals to meet their obligation to care for AIDS patients. PMID:3131823

12 CFR 613.3030 - Rural home financing.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Rural home financing. 613.3030 Section 613.3030 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM ELIGIBILITY AND SCOPE OF FINANCING Financing Under Titles I and II of the Farm Credit Act § 613.3030 Rural home financing. (a) Definitions. (1...

12 CFR 907.12 - Finance Board procedures.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Finance Board procedures. 907.12 Section 907.12 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOUSING FINANCE BOARD ORGANIZATION AND OPERATIONS PROCEDURES Case-by-Case Determinations; Review of Disputed Supervisory Determinations § 907.12 Finance Board procedures. (a) Notice of Receipt...

Participatory financing for green growth

International Nuclear Information System (INIS)

Laville, Dorine; Phantharangsi, Maryvonne; Monnoyer-Smith, Laurence; Demeulenaere, Laurence; Lequeux, Typhaine; Cuny, Alicia

2017-01-01

As for the French Ministry of the Environment, participatory financing can be an innovating and mobilising tool to finance projects related to the energy and ecological transition, and as such a financing is promoted by the law on energy transition for a green growth, this publication presents this type of financing. It evokes its legal framework, its different forms (loan to companies, loan to individuals, gift, capital investment), its safe legal framework (definition of different types of status). It outlines how it can be a lever for energy and ecological transition even if green projects are difficult to quantify. It evokes the future introduction of a label, and the introduction of legal and regulatory measures to develop the renewable energy sector

Health, autonomic financing and transferences

Directory of Open Access Journals (Sweden)

David Cantarero Prieto

2002-01-01

Full Text Available The present paper has as objective to study the whole relative problem to the autonomous communities and regional heath care expenditure financing in Spain. This article has a dual purpose. First, the financing of the current health care attendance is approached in the Spanish regions passing magazine to its possible variants and we observe that the balance of our system is clearly inclined towards the side of the integration in the general pattern of financing («Fiscal Room» with specific conditions («Mixed System». Secondly, we examine the new situation in the mark of health care and its corresponding financing in the new model approved in 2001, in terms of the effects of tax assignment on autonomous communities.

50 CFR 80.25 - Multiyear financing under the Dingell-Johnson Sport Fish Restoration Program.

Science.gov (United States)

2010-10-01

...-Johnson Sport Fish Restoration Act in two ways: (1) States may finance the entire cost of the acquisition... Program. (a) States may finance the acquisition of lands or interests in lands including water rights and...

13 CFR 107.840 - Maximum term of Financing.

Science.gov (United States)

2010-01-01

... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Maximum term of Financing. 107.840... COMPANIES Financing of Small Businesses by Licensees Structuring Licensee's Financing of An Eligible Small Business: Terms and Conditions of Financing § 107.840 Maximum term of Financing. The maximum term of any...

Co-financing of Social Policy in the Brazilian Federalism Context of XXI Century

Directory of Open Access Journals (Sweden)

Evilasio Salvador

2014-12-01

Full Text Available The federal arrangement post Constitution comes indicating greater accountability of federal units and municipalities in the implementation of social policies at the same time as it gave greater autonomy in tax collection. From the 2000s, the new rules of social policies in education, health and social assitance has required a greater effort of budgetary resources of the states, the Federal District and municipalities, without the creation or injection of additional tax revenue. In social policies, important legislative changes mark the first decade of this century in Brazil with direct implications on federal arrangement and therefore the co-financing of social policies. The main objective of this article is to analyze the amount of funds invested by the federal government, states, Federal District and municipalities in budget functions: social assistance, health and education, from 2002 to 2012, highlighting the co-financing these social policies. As well as to identify some obstacles created by the fiscal adjustment underway in the country to expand the co-financing of social policies.

Water Finance Webinars and Forums

Science.gov (United States)

The Center hosts a series of water finance forums. These forums bring together communities with drinking water, wastewater, and stormwater project financing needs in an interactive peer-to-peer networking format.

Including Alternative Resources in State Renewable Portfolio Standards: Current Design and Implementation Experience

Energy Technology Data Exchange (ETDEWEB)

Heeter, J.; Bird, L.

2012-11-01