Socially responsible investment engagement

NARCIS (Netherlands)

Goessling, T.; Buijter, Bas; Freeman, R.E.; Kujala, J.; Sachs, S.

2017-01-01

This study explores engagement in socially responsible investment (SRI) processes. More specifically, it researches the impact of shareholder salience on the success of engagement activities. The research question asks: What is the relationship between shareholder salience and engagement effort

Socially Responsible Investment in Japanese Pensions

OpenAIRE

Henry Hongbo Jin; Olivia S. Mitchell; John Piggott

2005-01-01

As the level of retirement-related assets has grown, so too has public and private interest in so-called "Socially Responsible Investment" (SRI), an investment strategy that employs criteria other than the usual financial risk and return factors when selecting firms in which to invest. This study evaluates whether SRI indexes would alter portfolio risk and return patterns for the new defined contribution pension plans currently on offer in Japan. We conclude that SRI funds can be included as ...

From SRI to ESG: The Changing World of Responsible Investing

Science.gov (United States)

Caplan, Lauren; Griswold, John S.; Jarvis, William F.

2013-01-01

Thoughtful investment professionals continue to debate whether a portfolio's long-term performance can be enhanced by including environmental, social, and governance (ESG) considerations in the security selection process, but responsible investing is more than a passing trend. The terms socially-responsible investing, mission-related investing,…

77 FR 59990 - Workforce Investment Act; Native American Employment and Training Council Meeting

Science.gov (United States)

2012-10-01

... Committee Act (FACA) (Pub. L. 92-463), as amended, and Section 166(h)(4) of the Workforce Investment Act... written statements to Mrs. Evangeline M. Campbell, Designated Federal Official (DFO), U.S. Department of.... FOR FURTHER INFORMATION CONTACT: Mrs. Evangeline M. Campbell, DFO, Division of Indian and Native...

Socially Responsible Investing

DEFF Research Database (Denmark)

Parisi, Cristiana; Stang, Andreas

This paper analyzes the Scandinavian market for Socially Responsible Investing (SRI) mutual funds in order to determine the returns from discriminatory investment decision compared to the return from conventional portfolios. The analysis is conducted on 642 Scandinavian equity mutual funds...... counterparts. In the case of Norway no statistical difference in return is found when conducting the three factor regression. The Scandinavian market is considered particularly relevant for the interest of the investors in SRI mutual funds. However, to the authors’ knowledge, this is the first study to present....... The methodology adopts the Sharpe ratio to establish the risk return relationship. Moreover, the Capital Asset Pricing Model (CAPM) and the Fama and French Three Factor model are used to test the hypotheses. The results indicate the underperformance of Swedish and Danish SRI funds relative to their conventional...

76 FR 15342 - Workforce Investment Act; Lower Living Standard Income Level

Science.gov (United States)

2011-03-21

... Standard Income Level AGENCY: Employment and Training Administration, Labor. ACTION: Notice of determination of Lower Living Standard Income Level. SUMMARY: Under Title I of the Workforce Investment Act (WIA... Income level (LLSIL) for uses described in the law. WIA defines the term ``Low Income Individual'' as one...

75 FR 25296 - Workforce Investment Act; Lower Living Standard Income Level

Science.gov (United States)

2010-05-07

... Standard Income Level AGENCY: Employment and Training Administration, Labor. ACTION: Notice of Determination of Lower Living Standard Income Level. SUMMARY: Under Title I of the Workforce Investment Act (WIA... Income Level (LLSIL) for uses described in the law. WIA defines the term ``Low Income Individual'' as one...

77 FR 76586 - GC SBIC IV, L.P.; Notice Seeking Exemption Under Section 312 of the Small Business Investment Act...

Science.gov (United States)

2012-12-28

... Small Business Investment Act of 1958, as amended (``the Act''), in connection with the financing of two... SMALL BUSINESS ADMINISTRATION [License No. 02/02-0644] GC SBIC IV, L.P.; Notice Seeking Exemption Under Section 312 of the Small Business Investment Act, Conflicts of Interest Notice is hereby given...

77 FR 18277 - Domini Social Investment Trust and Domini Social Investments LLC; Notice of Application

Science.gov (United States)

2012-03-27

... SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 29984; 812-13971] Domini Social Investment Trust and Domini Social Investments LLC; Notice of Application March 21, 2012. AGENCY... the Investment Company Act of 1940 (``Act'') for an exemption from section 15(a) of the Act and rule...

The Glocalization of Responsible Investment

DEFF Research Database (Denmark)

Gond, Jean-Pascal; Boxenbaum, Eva

2013-01-01

This study investigates the institutional work that underlies the diffusion of responsible investment (RI) and enhances its adaptation to local settings. Building on institutional theory and actor–network theory, we advance the concept of contextualization work to describe the institutional work...

77 FR 35082 - Arrow Investment Advisers, LLC and Arrow Investments Trust; Notice of Application

Science.gov (United States)

2012-06-12

... SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 30100; 812-13937] Arrow Investment Advisers, LLC and Arrow Investments Trust; Notice of Application June 6, 2012. AGENCY: Securities... 6(c) of the Investment Company Act of 1940 (``Act'') for an exemption from sections 2(a)(32), 5(a)(1...

Retail Structured Products for Socially Responsible Investments

DEFF Research Database (Denmark)

Jessen, Pernille

Institutional investors are the main drivers of demand for socially responsible investment (SRI). Preferences for non- nancial goals such as social and environmental sustainability are also held by small retail agents who, nonetheless, are almost non-existent in the market. This paper studies how...... and when it can be utility enhancing to engage in SRI: It proposes a quantitative method to incorporate responsibility into the investment decision and investigates how structured financial instruments can facilitate access to SRI for small retail agents. The goal is to demonstrate market potential...

77 FR 27499 - Destra Capital Investments LLC and Destra Unit Investment Trust; Notice of Application

Science.gov (United States)

2012-05-10

... SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 30059; 812-13574-01] Destra Capital Investments LLC and Destra Unit Investment Trust; Notice of Application May 3, 2012. AGENCY...) of the Investment Company Act of 1940 (``Act'') for an exemption from sections 2(a)(32), 2(a)(35), 14...

76 FR 61769 - Destra Capital Investments LLC and Destra Unit Investment Trust; Notice of Application

Science.gov (United States)

2011-10-05

... SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 29825; 812-13575] Destra Capital Investments LLC and Destra Unit Investment Trust; Notice of Application September 29, 2011. AGENCY... 12(d)(1)(J) of the Investment Company Act of 1940 (``Act'') for an exemption from sections 12(d)(1)(A...

77 FR 15834 - Notice Seeking Exemption Under Section 312 of the Small Business Investment Act, Conflicts of...

Science.gov (United States)

2012-03-16

... Small Business Investment Act of 1958, as amended (``the Act''), in connection with the financing of a small concern, has sought an exemption under section 312 of the Act and section 107.730, Financings... SMALL BUSINESS ADMINISTRATION Notice Seeking Exemption Under Section 312 of the Small Business...

The Perception of Investors on Socially Responsible Investment: International Evidence

OpenAIRE

Chiew, Dominic Kia Seng

2008-01-01

It is quite impossible to deny the growing importance of socially responsible investing (SRI) since its introduction in the early 1990s (Robson and Wakefield, 2007), when little attention was paid to this subject within the business ethics community as an alternative outlet to the existing conventional investment philosophy (Sparkes, 2001). The increasing use of Socially Responsible Investment (SRI) in the financial markets has become more apparent today. Organization have included many other...

Socially Responsible Investments : Methodology, Risk and Performance

NARCIS (Netherlands)

Renneboog, L.D.R.; Ter Horst, J.R.; Zhang, C.

2007-01-01

This paper surveys the literature on socially responsible investments (SRI). Over the past decade, SRI has experienced an explosive growth around the world. Particular to the SRI funds is that both financial goals and social objectives are pursued. While corporate social responsibility (CSR) -

DREAM Act-Eligible Poised to Build on the Investments Made in Them

Directory of Open Access Journals (Sweden)

Donald Kerwin

2018-01-01

• The DREAM Act-eligible include 50,700 Temporary Protected Status (TPS recipients from El Salvador, Haiti, and Honduras, 45 percent of whom live in the Miami metro area, Los Angeles County, the Washington, DC area, Houston, New York City, the San Francisco metro area, and the City of Dallas. The study also underscores the immense investment — $150 billion — that states and localities have already made in educating these young Americans. It argues that over time and with a path to citizenship the return on this investment will increase by virtually every indicia of integration — education levels, employment rates, self-employment numbers, US family members, and English language proficiency.

Does R&D investment under corporate social responsibility increase firm performance?

OpenAIRE

Yu-Chun Lin

2017-01-01

Research and development (R&D) investment affects firms’ growth and reflects their investment energy. However, it is recorded as an expense in financial statements, according to generally accepted accounting principles (e.g., International Financial Statements Standards). This study examines whether firms’ R&D investment has a positive effect on their performance, when they engage in corporate social responsibility. The author focuses on firms that have earned corporate social responsibility ...

Social responsible investment: satisfaction, risks and prospects of development /

Directory of Open Access Journals (Sweden)

I.M. Vygivska

2017-12-01

Full Text Available The research is devoted to the study of the features and trends of the development of socially responsible investment in Ukraine. The present study shows that under the current conditions of economic development and political situation in different countries, socially responsible investment of various projects and programs of social significance becomes increasingly important and relevant. Today we observe the appearance of the new forms of implementation of socially responsible business activities, among which the impact-investment and financing of socially significant projects on the principles of venture philanthropy are becoming more and more popular. It is determined that IMP involves, firstly, profit making, and secondly, it expects positive social changes, in particular, in support of sustainable agricultural development, ensuring availability of medical services, affordability of housing, development of environmentally friendly technologies. It was found out that the goal of venture philanthropy is primarily to create a social effect, and, eventually, to generate profits that may appear in the process of implementing the project or the activities of the organization. In the vast majority of cases, this type of financing takes place through direct investment or fixed income securities.

Financial and social performance of socially responsible investments in the Netherlands

NARCIS (Netherlands)

Scholtens, B.

2007-01-01

We analyse the performance of socially responsible investments in the Netherlands. It appears that the financial performance of the various types of socially responsible investments differs considerably. We construct a proxy for mutual funds' CSR policies and use information about the environmental

OUTWARD BRAZILIAN FOREIGN DIRECT INVESTMENT: IMPULSES AND RESPONSES

Directory of Open Access Journals (Sweden)

Ronald de Oliveira Concer

2010-12-01

Full Text Available This paper models the outward foreign direct investment from Brazil series using time a series econometrics model, namely the Vector Auto Regressive (VAR model. We have drawn impulse response functions for the key relevant factors that may explain the outward foreign direct investment flows. We start with a review of the literature on the Dunning location approach to international business. We worked with a data set of quarterly observations from Q1-1995 to Q1-2010. We carried also out Granger causality tests as for determining whether international business travelling should be included as an explanatory variable in our model. Results stressed that although the strong exchange rate in Brazil is often blamed for forcing companies to invest abroad, the evidence found in the aggregate data suggests that there is not a significant relationship between the level of foreign exchange rate and the outward Brazilian foreign direct investment. Differently from previous studies, this paper uses impulse response functions to present dynamic results, thus avoiding the typical binary results “affect” or “don’t affect”, and in so doing we provide a more detailed insight into this important location factor.

OUTWARD BRAZILIAN FOREIGN DIRECT INVESTMENT: IMPULSES AND RESPONSES

Directory of Open Access Journals (Sweden)

Ronald de Oliveira Concer

2010-01-01

Full Text Available This paper models the outward foreign direct investment from Brazil series using time a series econometrics model, namely the Vector Auto Regressive (VAR model. We have drawn impulse response functions for the key relevant factors that may explain the outward foreign direct investment flows. We start with a review of the literature on the Dunning location approach to international business. We worked with a data set of quarterly observations from Q1-1995 to Q1-2010. We carried also out Granger causality tests as for determining whether international business travelling should be included as an explanatory variable in our model. Results stressed that although the strong exchange rate in Brazil is often blamed for forcing companies to invest abroad, the evidence found in the aggregate data suggests that there is not a significant relationship between the level of foreign exchange rate and the outward Brazilian foreign direct investment. Differently from previous studies, this paper uses impulse response functions to present dynamic results, thus avoiding the typical binary results “affect” or “don’t affect”, and in so doing we provide a more detailed insight into this important location factor.

Financial Performance, Costs, and Active Management of U.S. Socially Responsible Investment Funds

NARCIS (Netherlands)

Chen, Jimmy; Scholtens, Bert

2016-01-01

Responsible investors, like regular investors, need to investigate whether to actively or passively manage their investments. This especial is of interest for responsible investing as it requires additional information generation and processing compared to more conventional investing. This study

Costs and limits of dosage response to predation risk: to what extent can tadpoles invest in anti-predator morphology?

Science.gov (United States)

Teplitsky, Céline; Plénet, Sandrine; Joly, Pierre

2005-09-01

Inducible defences have long been considered as a polyphenism opposing defended and undefended morphs. However, in nature, preys are exposed to various levels of predation risk and scale their investment in defence to actual predation risk. Still, among the traits that are involved in the defence, some are specific to one predator type while others act as a more generalised defence. The existence of defence costs could prevent an individual investing in all these traits simultaneously. In this study, we investigate the impact of an increasing level of predator density (stickleback, Gasterosteus aculeatus) on the expression of morphological inducible defences in tadpoles of Rana dalmatina. In this species, investment in tail length and tail muscle is a stickleback-specific response while increased tail fin depth is a more general defence. As expected, we found a relationship between investment in defence and level of risk through the responses of tail fin depth and tail length. We also found an exponential increase of defence cost, notably expressed by convex decrease of growth and developmental rates. We found a relative independence of investment in the different traits that compose the defence, revealing a high potential for fine tuning the expression of defended phenotypes with respect to local ecological conditions.

Socially Responsible Investments : Methodology, Risk Exposure and Performance

NARCIS (Netherlands)

Renneboog, L.D.R.; Ter Horst, J.R.; Zhang, C.

2007-01-01

This paper surveys the literature on socially responsible investments (SRI). Over the past decade, SRI has experienced an explosive growth around the world. Particular to the SRI funds is that both financial goals and social objectives are pursued. While corporate social responsibility (CSR) -

Responsible investing : New insights into performance and tastes

NARCIS (Netherlands)

Borgers, A.C.T.

2014-01-01

In this dissertation I study several financial aspects of socially responsible investing (SRI). It has become relevant due to the rise in assets under management with some form of social responsibility mandate over the past decades. SRI knows different dimensions; investors can (under-) overweight

'A COMPARISON OF FINANCIAL PERFORMANCE AND INVESTMENT STYLES FOR SOCIALLY RESPONSIBLE AND CONVENTIONAL INVESTMENT INDICES IN THE UNITED STATES'

OpenAIRE

Amish, Patel

2013-01-01

This paper investigates comparing the financial performance for socially responsible investment equity indices and conventional investment equity indices in the United States, accounting for the recent financial crisis. Two conventional indices are used as a benchmark to four socially responsible indices. The conventional indices used in this paper are the S&P500 Index and CRSP Total Market Index. The socially responsible indices used are the Calvert Social Index, FTSE4Good U.S. Select Index,...

78 FR 39820 - Notice Seeking Exemption Under the Small Business Investment Act, Conflicts of Interest

Science.gov (United States)

2013-07-02

... Seeking Exemption Under the Small Business Investment Act, Conflicts of Interest Notice is hereby given... Section 107.730, Financings which Constitute Conflicts of Interest of the Small Business Administration...'s equity. Therefore this transaction is considered a financing constituting a conflict of interest...

78 FR 57444 - Eagle Fund III-A, L.P.; Notice Seeking Exemption Under the Small Business Investment Act...

Science.gov (United States)

2013-09-18

... the Small Business Investment Act of 1958, as amended (the ``Act''), in connection with the financing..., Financings which Constitute Conflicts of Interest, of the Small Business Administration (``SBA'') Rules and... SMALL BUSINESS ADMINISTRATION [License No. 07/07-0117] Eagle Fund III-A, L.P.; Notice Seeking...

76 FR 69792 - Notice of Exemption Request Under Section 312 of the Small Business Investment Act, Conflicts of...

Science.gov (United States)

2011-11-09

... SMALL BUSINESS ADMINISTRATION Notice of Exemption Request Under Section 312 of the Small Business... 103, Shrewsbury, NJ, a Federal Licensee under the Small Business Investment Act of 1958, as amended (``the Act''), in connection with the financing of a small concern, has sought an exemption under Section...

Corporate social responsibility investment and social objectives : An examination on social welfare investment of chinese state owned enterprises

NARCIS (Netherlands)

Bo, H.; Li, T.; Toolsema-Veldman, Linda

We apply the theory of corporate social responsibility to analyse social welfare investment undertaken by Chinese State Owned Enterprises (SOEs). We present a simple theoretical model to illustrate how the presence of social objectives in the firm's objective function changes its investment

The opportunity cost of negative screening in socially responsible investing

NARCIS (Netherlands)

Trinks, Pieter Jan; Scholtens, Bert

2017-01-01

This paper investigates the impact of negative screening on the investment universe as well as on financial performance. We come up with a novel identification process and as such depart from mainstream Socially Responsible Investing (SRI) literature by concentrating on individual firms’ conduct and

End-of-Year 2010-11 Progress Report to the Legislature: Implementation and Impact of the Workforce Investment Act, Title II Adult Education and Family Literacy Act

Science.gov (United States)

CASAS - Comprehensive Adult Student Assessment Systems (NJ1), 2012

2012-01-01

The Federal Workforce Investment Act (WIA), Title II: Adult Education and Family Literacy Act (AEFLA) provides funding for states and territories to provide instruction in English as a Second Language (ESL), Adult Basic Education (ABE), and Adult Secondary Education (ASE) to adults in need of these literacy services. California State Budget Act…

77 FR 59224 - Comment Request for Information Collection for the Workforce Investment Act (WIA) Management...

Science.gov (United States)

2012-09-26

... Collection for the Workforce Investment Act (WIA) Management Information and Reporting System; Extension With... changes that are being requested in the extension with revisions to the WIA Management Information and.... III. Current Actions Type of Review: Extension with revisions. Title: WIA Management Information and...

The Occupational Disease Prevention and Control Act of the People's Republic of China: an awareness assessment among workers at foreign-invested enterprises.

Science.gov (United States)

Yongming, Shou; Rongzhu, Lu; Jie, Lin; Yan, Xu; Zhu, Yiliang; Schweigert, Michael

2011-01-01

The Occupational Disease Prevention and Control Act (ODPC-Act) of the People's Republic of China came into effect on May 1, 2002. Given the scope of foreign-invested enterprises (FIEs) in China and an unabated increasing trend of foreign investment, compliance with the ODPC-Act among FIEs is of particular interest, yet little is known. The extent to which an employer educates its workforce to understand the ODPC-Act may be a measure of an employer's compliance. Based on a 25-item questionnaire survey, we found that among 166 workers from three FIEs in Wuxi, Jiangsu Province, the majority had little knowledge regarding the ODPC-Act; many were unaware of their rights granted under the ODPC-Act. They were also unable to recognize employers' potential violations of the ODPC-Act. Improving FIE workers' awareness of the ODPC-Act is desirable.

Microsimulation of Corporate Response to Investment Subsidies

NARCIS (Netherlands)

Tongeren, van F.W.

1998-01-01

The article presents an application of microsimulation to modeling of firm behavior in an economy-wide framework. The model is used to investigate the response of industrial corporations to investment subsidies in the Netherlands and traces the effects to the macro economic level. The

Multilateral development banks and socially responsible investments--the case of tobacco.

Science.gov (United States)

Lal, Pranay

2012-12-01

Globally, tobacco kills more people than HIV-related conditions or AIDS, tuberculosis and malaria combined. In 1991, The World Bank, the world's largest lender, pledged that it would no longer support tobacco-related projects. It was expected that other financial investors would follow, but most did not respond to this call. As a result, several financial institutions continue to invest in tobacco and fuel an epidemic to an unprecedented scale. Using tobacco as a case in point, this review highlights the continuing investments among financial institutions which do not conform to 'socially responsible investments' and calls for monitoring and reporting such unethical practices. The paper also underscores the need to harmonise the numerous criteria, principles and voluntary codes that govern socially responsible investing and ensure that financial institutions comply with them.

[High voltage objects and radiocommunication investments in view of requirements of the environmental protection act].

Science.gov (United States)

Szuba, Marek

2006-01-01

This paper presents the most important elements of the localization procedure of high voltage overhead lines and substations and radiocommunication objects which are the source of electromagnetic fields. These fields are perceived as a major threat to human health. The point of departure to make a choice of investments is the special classification of technical installations described in one of the executive directive issued by virtue of the Environmental Protection Act. This special executive directive enumerates a lot of technical objects (installation), classified in the group of investments which have significant impact on the environment and some objects which could be classified in this group. For all this technical installations (e.g., overhead high voltage power lines) the provisions of the Environmental Protection Act impose an obligation to take particular steps to assure transparency of the environmental protection procedures, transborder procedures and the protection of areas included in the Natura 2000 network.

Applying Sustainability and Responsible Investment on Islamic Equity Investment: An Analysis of FTSE Shariah and FTSE4GOOD Indices

OpenAIRE

Rizki, Reza

2015-01-01

2015 dissertation for MSc Islamic Banking and Finance. Selected by academic staff as a good example of a masters level dissertation. \\ud \\ud Shariah-compliant Investment and Sustainability Responsible Investment (SRI) are the slternative asset classes and they are growing rapidly leaving their counterparts behind. Nonetheless, there are some criticisms against the screening criteria which are applied by Islamic equity investment because they exclude the environment, social and human rights is...

Sovereign wealth fund investments and the need to undertake socially responsible investment

OpenAIRE

Yin, Wei

2017-01-01

There is an increasing consensus that, beyond financial returns, investors should also consider the environmental and social impacts of their business activities. Major institutional investors currently are entering the realm of socially responsible investment (SRI), which incorporates environmental, social, and governance (ESG) factors into decision-making based on internationally recognized standards and principles. As influential institutional investors, sovereign wealth funds ...

Telling tails: selective pressures acting on investment in lizard tails.

Science.gov (United States)

Fleming, Patricia A; Valentine, Leonie E; Bateman, Philip W

2013-01-01

Caudal autotomy is a common defense mechanism in lizards, where the animal may lose part or all of its tail to escape entrapment. Lizards show an immense variety in the degree of investment in a tail (i.e., length) across species, with tails of some species up to three or four times body length (snout-vent length [SVL]). Additionally, body size and form also vary dramatically, including variation in leg development and robustness and length of the body and tail. Autotomy is therefore likely to have fundamentally different effects on the overall body form and function in different species, which may be reflected directly in the incidence of lost/regenerating tails within populations or, over a longer period, in terms of relative tail length for different species. We recorded data (literature, museum specimens, field data) for relative tail length (n=350 species) and the incidence of lost/regenerating tails (n=246 species). We compared these (taking phylogeny into account) with intrinsic factors that have been proposed to influence selective pressures acting on caudal autotomy, including body form (robustness, body length, leg development, and tail specialization) and ecology (foraging behavior, physical and temporal niches), in an attempt to identify patterns that might reflect adaptive responses to these different factors. More gracile species have relatively longer tails (all 350 spp., P lost/regenerating tails for nocturnal lizards (all 246 spp., P pressure.

17 CFR 210.12-13 - Investments other than securities.

Science.gov (United States)

2010-04-01

... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Investments other than... EXCHANGE ACT OF 1934, PUBLIC UTILITY HOLDING COMPANY ACT OF 1935, INVESTMENT COMPANY ACT OF 1940, INVESTMENT ADVISERS ACT OF 1940, AND ENERGY POLICY AND CONSERVATION ACT OF 1975 Form and Content of Schedules...

Trends of development of social responsible investment in Ukraine: accounting principles

Directory of Open Access Journals (Sweden)

Rudeychuk S.V.

2017-08-01

Full Text Available The research is devoted to the study of the features and trends of the development of socially responsible investment in Ukraine. The main objective of the study of social responsibility issues is to systematize and study the prospects for the development and evaluation of corporate social responsibility in Ukraine, as well as to study the peculiarities of its accounting reflection in the accounting system. In the course of the study, the current state of social projects in Ukraine was studied, as well as the main obstacles and perspectives of the development of socially responsible investment in Ukraine. The research defines the features of socially responsible investment in order to identify the main areas of improvement of the information provision of formation of social reporting indicators. The article proposes the bookkeeping for directions of enterprise’s social activity in clearly defined accounts of accounting, regardless of the level of its regulation, followed by the development of analytical sections of accounting in the relevant areas of social policy.

Response of Foreign Private Investment to Public Debt in Nigeria

Directory of Open Access Journals (Sweden)

Emenike Kalu O.

2015-06-01

Full Text Available The study investigates the long-term relationship and dynamic short-term impact of public debt on foreign private investment for a developing country – Nigeria during the period 1962 to 2012. The paper deploys cointegration model to examine long-term relationship between the variables. The study also examines dynamic short-term impact and causality between public debt and foreign private investment using the VECM and Granger causality test. The study further examines the response paths of foreign private investment variable due to public debts shocks using variance decomposition. The results confirm absence of long-term relationship between public debt and foreign private investment in Nigeria. The results also show that external debt has negative impact on foreign private investment in the short-term. Finally, the results show that there is no causality between foreign private investment and public debt. The major economic implication of these findings is for debt management authorities to be conscious of growing external debts as it discourages foreign private investments into Nigeria.

Islamic Deposits and Investment Accounts in Income Smoothing in Post-Reclassification of the Islamic Financial Service Act 2013

Directory of Open Access Journals (Sweden)

Mohd Yaziz MOHD ISA

2014-12-01

Full Text Available This study attempts to determine the impact of the reclassification on income smoothing practices by Islamic banks in Malaysia through loss provisions. It is well acknowledged that Islamic banks set up an allowance for loss provisions in order to absorb any future losses. However, alternative mechanisms, such as Profit Equalization Reserve (PER and Investment Risk Reserve (IRR instead of loss provisions, are used to smooth income. This study determines whether the exercise by Islamic banks in Malaysia to reclassify Islamic deposits to investment accounts after the enacted Islamic Financial Service Act (2013, may have caused unintended consequences in less profit payout to investment account holders. The results do not indicate any unintended consequences of less profit payout to investment account holders from the present exercise by the Islamic banks in Malaysia to distinguish Islamic deposits from investment accounts.

The Effect of Dividend Tax Policy on Corporate Investment

Directory of Open Access Journals (Sweden)

Jimmy Torrez

2006-10-01

Full Text Available The Job Growth and Taxpayer Relief Reconciliation Act of 2003 lowered dividend taxes to the same rate as capital gains taxes in the United States using the Pecking Order Theory as a framework. This paper develops a model that examines the effect the tax cut will have on corporate investment. The model finds that the dividend rate tax cut will increase the corporate cost of capital and lower investment. Therefore, any increase in the value of the stock market from this act will simply be a response to an increase in after tax returns and not from an increase in production.

End-of-Year 2009-10 Progress Report to the California Legislature: Implementation and Impact of the Workforce Investment Act (WIA), Title II Adult Education and Family Literacy Act

Science.gov (United States)

CASAS - Comprehensive Adult Student Assessment Systems (NJ1), 2011

2011-01-01

The Federal Workforce Investment Act (WIA), Title II: Adult Education and Family Literacy Act (AEFLA) provide funding for states and territories to provide instruction in English as a Second Language (ESL), Adult Basic Education (ABE), and Adult Secondary Education (ASE) to adults in need of these literacy services. California State Budget Act…

Toward a theory of responsible investing : On the economic foundations of corporate social responsibility

NARCIS (Netherlands)

Dam, Lammertjan; Scholtens, Lambertus

Studies that link corporate social and financial performance usually find a positive association between the two. However, the literature does not establish a significant impact of socially responsible investing on stock market returns. We develop a coherent economic framework of responsible

Commonfund Study of Responsible Investing: A Survey of Endowments and Their Affiliated Foundations

Science.gov (United States)

Commonfund Institute, 2015

2015-01-01

The Commonfund Study of Responsible Investing analyzes policies, practices and attitudes with respect to responsible investing among 200 U.S. colleges and universities, constituting 24.0 percent of the 832 institutions that participated in the 2014 National Association of College and University Business Officers (NACUBO)-Commonfund Study of…

The money-flows of socially responsible investment funds around the world

NARCIS (Netherlands)

Renneboog, L.D.R.; Ter Horst, J.R.; Zhang, C.; Baker, H.K.; Nofsinger, J.R.

2012-01-01

This chapter studies the money flows into and out of socially responsible investment (SRI) funds around the world. In their investment decisions, investors in SRI funds may be more concerned with ethical or social issues than with fund performance. Therefore, SRI money flows are less related to past

78 FR 19736 - Notice on Reallotment of Workforce Investment Act (WIA) Title I Formula Allotted Funds for...

Science.gov (United States)

2013-04-02

...) 2012 AGENCY: Employment and Training Administration, Labor. ACTION: Notice. SUMMARY: Public Law 105-220, the Workforce Investment Act (WIA), requires the Secretary of Labor (Secretary) to conduct reallotment... DEPARTMENT OF LABOR Employment and Training Administration Notice on Reallotment of Workforce...

76 FR 14427 - Notice on Reallotment of Workforce Investment Act (WIA) Title I Formula Allotted Funds for...

Science.gov (United States)

2011-03-16

...) 2010 AGENCY: Employment and Training Administration, Labor. ACTION: Notice. SUMMARY: The Workforce Investment Act, Public Law 105-220, requires the Secretary of Labor (Secretary) to conduct reallotment of... DEPARTMENT OF LABOR Employment and Training Administration Notice on Reallotment of Workforce...

77 FR 25202 - Notice on Reallotment of Workforce Investment Act (WIA) Title I Formula Allotted Funds for...

Science.gov (United States)

2012-04-27

...) 2011 AGENCY: Employment and Training Administration (ETA), Labor. ACTION: Notice. SUMMARY: Public Law 105-220, the Workforce Investment Act of 1998, requires the Secretary of Labor (Secretary) to conduct... DEPARTMENT OF LABOR Employment and Training Administration Notice on Reallotment of Workforce...

17 CFR 210.12-12A - Investments-securities sold short.

Science.gov (United States)

2010-04-01

... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Investments-securities sold... EXCHANGE ACT OF 1934, PUBLIC UTILITY HOLDING COMPANY ACT OF 1935, INVESTMENT COMPANY ACT OF 1940, INVESTMENT ADVISERS ACT OF 1940, AND ENERGY POLICY AND CONSERVATION ACT OF 1975 Form and Content of Schedules...

78 FR 33860 - Workforce Investment Act of 1998 (WIA); Notice of Incentive Funding Availability Based on Program...

Science.gov (United States)

2013-06-05

... and Training Administration, Labor. ACTION: Notice; correction. SUMMARY: The Employment and Training Administration published a document in the Federal Register of May 24, 2013, notifying eligible state grantees of... DEPARTMENT OF LABOR Employment and Training Administration Workforce Investment Act of 1998 (WIA...

WORKFORCE INVESTMENT ACT: States and Localities Increasingly Coordinate Services for TANF Clients, but Better Information Needed on Effective Approaches

National Research Council Canada - National Science Library

2002-01-01

In 1998, the Congress passed the Workforce Investment Act (WIA) to unify a fragmented employment and training system, requiring states to provide most federally funded employment-rated services through one- stop centers...

77 FR 11618 - Solutions Capital I, L.P.; Notice Seeking Exemption Under the Small Business Investment Act...

Science.gov (United States)

2012-02-27

... SMALL BUSINESS ADMINISTRATION [License No. 03/03-0247] Solutions Capital I, L.P.; Notice Seeking Exemption Under the Small Business Investment Act, Conflicts of Interest Notice is hereby given that Solutions Capital I, L.P., 1100 Wilson Blvd., Suite 3000, Arlington, VA 22209, a Federal Licensee under the...

Responsible Investment: Taxes and Paradoxes

Directory of Open Access Journals (Sweden)

Knuutinen Reijo

2017-12-01

Full Text Available Taxes have become an issue of corporate social responsibility (CSR, but the role of taxation is to some extent an ambiguous and controversial issue in the CSR framework. Similarly, another unclear question is what role investors who are committed to sustainable and responsible investment (SRI see taxes as having on their environmental, social, and governance (ESG agenda. Corporate taxes have an inverse relationship with the return of the investors: taxes paid directly affect what is left on the bottom line, reducing the return of investors. However, investors are now more aware of tax-related risks, which can include different forms of reputation risk. Corporate tax planning may increase the returns, but those increased returns are riskier. This study focuses particularly on the relationship between SRI and taxation. We find that tax matters are considered to be on the ESG agenda, but their role and significance in the ESG analysis is unclear.

Illinois State Plan: Adult Education and Family Literacy. Under Title II of the Workforce Investment Act of 1998, Adult Education and Family Literacy Act

Science.gov (United States)

Illinois Community College Board, 2014

2014-01-01

This document contains Illinois' State Plan for Adult Education and Family Literacy under Title II of the Workforce Investment Act of 1998 for July 1, 1999, through June 30, 2015. The plan is comprised of the following sections: (1) Eligible agency certifications and assurances; (2) Description of the steps to ensure direct and equitable access;…

17 CFR 270.3a-2 - Transient investment companies.

Science.gov (United States)

2010-04-01

... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Transient investment companies... (CONTINUED) RULES AND REGULATIONS, INVESTMENT COMPANY ACT OF 1940 § 270.3a-2 Transient investment companies... which an issuer owns or proposes to acquire investment securities (as defined in section 3(a) of the Act...

Citizenship as individual responsibility through personal investment - an ethnographic study in a study circle

Directory of Open Access Journals (Sweden)

Annika Pastuhov

2017-05-01

Full Text Available The aim of this article is to shed light on how the democratic ideal of institutionalised Nordic popular education is realised through an ethnographic field study in an English as a foreign language study circle. The study focuses on how participants express their citizenship when taking part in the study circle. Citizenship is viewed as a dynamic concept comprising the aspects of 'being' and 'acting' and constructed in and through social interaction. The study circle is arranged as a classroom practice: The study circle leader organises the activities, while the participants engage in exercises and attempt to learn correct usage. Through their participation, the participants take individual responsibility for what they see as their lack of sufficient knowledge of English. The participants describe their participation as a personal and voluntary investment in themselves. In light of the study, the individual stance is discussed as limiting possibilities for responsibility and thus expressions of citizenship.

When Do Firms Invest in Corporate Social Responsibility? : A Real Option Framework

NARCIS (Netherlands)

Cassimon, D.; Engelen, P.J.; Liedekerke, L.

2014-01-01

In this paper, the process for firms to decide whether or not to invest in corporate social responsibility is treated from a real option perspective. We extend the Husted (2005) framework with an important extra parameter that allows us to understand the timing of CSR investment and explain why some

Bacterial Infection Increases Reproductive Investment in Burying Beetles

Directory of Open Access Journals (Sweden)

Catherine E. Reavey

2015-10-01

Full Text Available The Nicrophorus genus lives and breeds in a microbe rich environment. As such, it would be expected that strategies should be in place to counter potentially negative effects of the microbes common to this environment. In this study, we show the response of Nicrophorus vespilloides to the common soil bacterium, Bacillus subtilis. Phenoloxidase (PO levels are not upregulated in response to the challenge and the bacteria are observed to multiply within the haemolymph of the host. Despite the growth of B. subtilis, survival is not affected, either in virgin or in breeding beetles. Some limit on bacterial growth in the haemolymph does seem to be occurring, suggesting mechanisms of resistance, in addition to tolerance mechanisms. Despite limited detrimental effects on the individual, the challenge by Bacillus subtilis appears to act as a cue to increase reproductive investment. The challenge may indicate a suite of negative environmental conditions that could compromise future breeding opportunities. This could act as a cue to increase parental investment in the current bout.

17 CFR 256.124 - Other investments.

Science.gov (United States)

2010-04-01

... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Other investments. 256.124... COMPANY ACT OF 1935 2. Investments § 256.124 Other investments. This account shall include the cost or current value of investments, whichever is less, in securities, club memberships, associations, life...

17 CFR 275.206(4)-8 - Pooled investment vehicles.

Science.gov (United States)

2010-04-01

... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Pooled investment vehicles... COMMISSION (CONTINUED) RULES AND REGULATIONS, INVESTMENT ADVISERS ACT OF 1940 § 275.206(4)-8 Pooled investment vehicles. (a) Prohibition. It shall constitute a fraudulent, deceptive, or manipulative act...

Responsible Investing in the Asia-Pacific Region: Understanding Sustainability and Investments in Japan and Hong Kong/China in an Era of Global Climate and Environmental Change

NARCIS (Netherlands)

J. Park (Jacob)

2014-01-01

markdownabstract__Abstract__ The author of this thesis examined the concept and market development of responsible investing (RI), which can be defined as an investment process that integrates social and environmental considerations within the context of traditional investment processes. RI has

The Relationship Between Oil and Gas Industry Investment in Alternative Energy and Corporate Social Responsibility

Science.gov (United States)

Konyushikhin, Maxim

The U.S. Energy Information Administration forecasted energy consumption in the United States to increase approximately 19% between 2006 and 2030, or about 0.7% annually. The research problem addressed in this study was that the oil and gas industry's interest in alternative energy is contrary to its current business objectives and profit goals. The purpose of the quantitative study was to explore the relationship between oil and gas industry investments in alternative energy and corporate social responsibilities. Research questions addressed the relationship between alternative energy investment and corporate social responsibility, the role of oil and gas companies in alternative energy investment, and why these companies chose to invest in alternative energy sources. Systems theory was the conceptual framework, and data were collected from a sample of 25 companies drawn from the 28,000 companies in the oil and gas industry from 2004 to 2009. Multiple regression and correlation analysis were used to answer the research questions and test hypotheses using corporate financial data and company profiles related to alternative energy investment and corporate social responsibility in terms of oil and gas industry financial support of programs that serve the greater social good. Results indicated significant relationships between alternative energy investment and corporate social responsibility. With an increasing global population with energy requirements in excess of what is available using traditional means, the industry should increase investment in alternative sources. The research results may promote positive social change by increasing public awareness regarding the degree to which oil and gas companies invest in developing alternative energy sources, which might, in turn, inspire public pressure on companies in the oil and gas industry to pursue use of alternative energy.

Earning capacity of environmentally friendly companies and social responsible investing

International Nuclear Information System (INIS)

Bjerk, Jan

2002-01-01

Firms on Dow Jones Sustainability Index yield over time the same return as the ''ordinary'' firms on the Dow Jones World Stock Index. There are several investment funds today that deal in shares with selected companies having a high environmental or ethical profile. This is Social Responsible Investing (SRI). When the Norwegian company Storebrand Kapitalforvaltning selects companies for SRI, they exclude immediately nuclear power stations, tobacco factories and manufacturers of land mines. In addition to the same return on invested capital, both investors and society get an environmental profit. The firms analysed and selected by Storebrand for SRI contributes significantly less negative environmental effects than the other firms, typically 33% less to the global heating and have on average 53% less toxic emissions and 45% less water consumption

Financial Constraints and the Response of Business Investment to Monetary Policy Shocks

Directory of Open Access Journals (Sweden)

Haase Timothy J.

2016-09-01

Full Text Available In this study I investigate what impact monetary policy shocks have on firms’ fixed investment, the less liquid portion of gross investment that requires more planning. I account for firms facing financial constraints firms by utilizing a common measure of asset size, which is used in previous literature. I use two exogenous, continuous series of monetary policy shocks to show that constrained firms have statistically different responses to policy than unconstrained firms. Specifically, I find that constrained firms’ fixed investment significantly responds more to monetary policy shocks than unconstrained firms.

75 FR 3502 - KLH Capital, L.P.; Notice Seeking Exemption Under 312 of the Small Business Investment Act...

Science.gov (United States)

2010-01-21

... SMALL BUSINESS ADMINISTRATION [License No. 04/04-0296] KLH Capital, L.P.; Notice Seeking Exemption Under 312 of the Small Business Investment Act, Conflicts of Interest Notice is hereby given that KLH Capital, L.P., 101 East Kennedy Boulevard, Suite 3925, Tampa, Florida 33602, a Federal Licensee under the...

The Fundamentals of a Business Model Based on Responsible Investments

Directory of Open Access Journals (Sweden)

Vadim Dumitrascu

2016-03-01

Full Text Available The harmonization of profitability and social responsibility is possible under the adoption and practice conditions by the companies of some adequate business models. “Responsible profitability” must benefit as well of management tools that guide the business sequentially, based on some objective decision making criteria towards sustainable economic behaviors. The simultaneous increase of the specific economic over-value generated by social responsible investment (SRI project and responsible intensity of economic employment reflects the company’s strong subscription to the authentic sustainable development path.

Report: Response to Congressional Request on Signage Requirements for Projects Funded by the Recovery Act

Science.gov (United States)

Report #10-X-0175, August 2, 2010. EPA developed two forms of guidance that discuss the need for recipients to display a Recovery Act logo to communicate to the public that the project is a Recovery Act investment.

Juggling Act: Balancing Safety, Security, and Yield in School Investments.

Science.gov (United States)

Sallack, David J.

2001-01-01

Although state laws governing school district investing are quite conservative, there have been some notable investment failures leading to the loss of public funds. School districts must beware three kinds of investment risks involving credit, market, and interest rates and consider safety, legality, liquidity, and cash-flow requirements. (MLH)

17 CFR 210.12-14 - Investments in and advances to affiliates.

Science.gov (United States)

2010-04-01

... EXCHANGE ACT OF 1934, PUBLIC UTILITY HOLDING COMPANY ACT OF 1935, INVESTMENT COMPANY ACT OF 1940... § 210.12-14 Investments in and advances to affiliates. [For management investment companies only] Col. A Col. B Col. C Col. D Col. E Name of issuer and title of issue or nature of indebtedness 1 Number of...

Socially Responsible Property Investment in Cities – Between Economic Reasoning and Social Obligations

Directory of Open Access Journals (Sweden)

Brodowicz Dominika P.

2017-06-01

Full Text Available This article focuses on socially responsible property investment (SRPI, which is an investment estimated not only to bring financial gain but also social and environmental benefits. The theoretical part of the paper draws on existing literature on responsible investment. The empirical part discussed in this article is based on original research conducted by the author. Starting with a global and regional overview, the query was narrowed down to a national level (Poland with a case study of the capital - Warsaw. The overarching research problem was described as follows: How are SRPI principles manifested and implemented by investors in the commercial real estate market? Additionally, investigation was supported by numerous questions regarding the interest in SRPI and an understanding of its principles and benefits among investors. Research goals were pursued based on primary and secondary data sources regarding existing and planned SRPI projects within the commercial real estate industry. Results indicate that there is a disparity between declared support for SRPI and market practice. At the conceptual level, there is an understanding of responsible investment principles and will to conduct such projects. However, commercial property practice proves a different reality with primary focus on green buildings, while the social factor is missing.

15 CFR 806.4 - Response required.

Science.gov (United States)

2010-01-01

... ECONOMIC ANALYSIS, DEPARTMENT OF COMMERCE DIRECT INVESTMENT SURVEYS § 806.4 Response required. Reports, as... certifying in writing to the fact that the person has no direct investments within the purview of the Act or... 15 Commerce and Foreign Trade 3 2010-01-01 2010-01-01 false Response required. 806.4 Section 806.4...

American Recovery and Reinvestment Act-comparative effectiveness research infrastructure investments: emerging data resources, tools and publications.

Science.gov (United States)

Segal, Courtney; Holve, Erin

2014-11-01

The Recovery Act provided a substantial, one-time investment in data infrastructure for comparative effectiveness research (CER). A review of the publications, data, and tools developed as a result of this support has informed understanding of the level of effort undertaken by these projects. Structured search queries, as well as outreach efforts, were conducted to identify and review resources from American Recovery and Reinvestment Act of 2009 CER projects building electronic clinical data infrastructure. The findings from this study provide a spectrum of productivity across a range of topics and settings. A total of 451 manuscripts published in 192 journals, and 141 data resources and tools were identified and address gaps in evidence on priority populations, conditions, and the infrastructure needed to support CER.

77 FR 74245 - ING Investments, LLC, et al.; Notice of Application

Science.gov (United States)

2012-12-13

... SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 30295; 812-14013] ING Investments, LLC, et al.; Notice of Application December 6, 2012. AGENCY: Securities and Exchange Commission (``Commission''). ACTION: Notice of application for an order under section 17(d) of the Investment Company Act...

THE DEFINITION OF INVESTMENT AND THE ICSID CONVENTION ...

African Journals Online (AJOL)

RAYAN_

Other States (the ICSID Convention) has a trickledown effect on the Nigerian. Investment ... Keywords: Nigerian Investment Promotion Act, Law and Development,. Investment ... ARB/84/3, Decision on Jurisdiction (N0.1) 27 November 1985). 3 ICSID ..... purchase of bonds qualify as an investment within ICSID jurisdiction.

75 FR 41559 - Surrender of License of Small Business Investment Company

Science.gov (United States)

2010-07-16

... Investment Act of 1958, under section 309 of the Act and Section 107.1900 of the Small Business Administration Rules and Regulations (13 CFR 107.1900) to function as a small business investment company under... SMALL BUSINESS ADMINISTRATION Surrender of License of Small Business Investment Company Pursuant...

75 FR 9628 - Surrender of License of Small Business Investment Company

Science.gov (United States)

2010-03-03

... Investment Act of 1958, under Section 309 of the Act and Section 107.1900 of the Small Business Administration Rules and Regulations (13 CFR 107.1900) to function as a small business investment company under... SMALL BUSINESS ADMINISTRATION Surrender of License of Small Business Investment Company Pursuant...

78 FR 26680 - Surrender of License of Small Business Investment Company

Science.gov (United States)

2013-05-07

... Investment Act of 1958, under Section 309 of the Act and Section 107.1900 of the Small Business Administration Rules and Regulations (13 CFR 107.1900) to function as a small business investment company under... SMALL BUSINESS ADMINISTRATION Surrender of License of Small Business Investment Company Pursuant...

76 FR 8802 - Surrender of License of Small Business Investment Company

Science.gov (United States)

2011-02-15

... Investment Act of 1958, under Section 309 of the Act and Section 107.1900 of the Small Business Administration Rules and Regulations (13 CFR 107.1900) to function as a small business investment company under... SMALL BUSINESS ADMINISTRATION Surrender of License of Small Business Investment Company Pursuant...

76 FR 1658 - Surrender of License of Small Business Investment Company

Science.gov (United States)

2011-01-11

... Investment Act of 1958, under Section 309 of the Act and Section 107.1900 of the Small Business Administration Rules and Regulations (13 CFR 107.1900) to function as a small business investment company under... SMALL BUSINESS ADMINISTRATION Surrender of License of Small Business Investment Company Pursuant...

77 FR 2600 - Surrender of License of Small Business Investment Company

Science.gov (United States)

2012-01-18

... Investment Act of 1958, under Section 309 of the Act and Section 107.1900 of the Small Business Administration Rules and Regulations (13 CFR 107.1900) to function as a small business investment company under... SMALL BUSINESS ADMINISTRATION Surrender of License of Small Business Investment Company Pursuant...

76 FR 59480 - Surrender of License of Small Business Investment Company

Science.gov (United States)

2011-09-26

... Investment Act of 1958, under Section 309 of the Act and Section 107.1900 of the Small Business Administration Rules and Regulations (13 CFR 107.1900) to function as a small business investment company under... SMALL BUSINESS ADMINISTRATION Surrender of License of Small Business Investment Company Pursuant...

76 FR 37167 - Surrender of License of Small Business Investment Company

Science.gov (United States)

2011-06-24

... Investment Act of 1958, under Section 309 of the Act and Section 107.1900 of the Small Business Administration Rules and Regulations (13 CFR 107.1900) to function as a small business investment company under... SMALL BUSINESS ADMINISTRATION Surrender of License of Small Business Investment Company Pursuant...

78 FR 70617 - Surrender of License of Small Business Investment Company

Science.gov (United States)

2013-11-26

... Investment Act of 1958, under Section 309 of the Act and Section 107.1900 of the Small Business Administration Rules and Regulations (13 CFR 107.1900) to function as a small business investment company under... SMALL BUSINESS ADMINISTRATION Surrender of License of Small Business Investment Company Pursuant...

75 FR 77691 - Surrender of License of Small Business Investment Company

Science.gov (United States)

2010-12-13

... Investment Act of 1958, under Section 309 of the Act and Section 107.1900 of the Small Business Administration Rules and Regulations (13 CFR 107.1900) to function as a small business investment company under... SMALL BUSINESS ADMINISTRATION Surrender of License of Small Business Investment Company Pursuant...

77 FR 2601 - Surrender of License of Small Business Investment Company

Science.gov (United States)

2012-01-18

... Investment Act of 1958, under Section 309 of the Act and Section 107.1900 of the Small Business Administration Rules and Regulations (13 CFR 107.1900) to function as a small business investment company under... SMALL BUSINESS ADMINISTRTATION Surrender of License of Small Business Investment Company Pursuant...

77 FR 32167 - Revocation of License of Small Business Investment Company

Science.gov (United States)

2012-05-31

... Investment Act of 1958, under Section 309 of the Act and Section 107.1900 of the Small Business Administration Rules And Regulations (13 CFR 107.1900) to function as a small business investment company under... SMALL BUSINESS ADMINISTRATION Revocation of License of Small Business Investment Company Pursuant...

78 FR 3496 - Surrender of License of Small Business Investment Company

Science.gov (United States)

2013-01-16

... Investment Act of 1958, under Section 309 of the Act and Section 107.1900 of the Small Business Administration Rules and Regulations (13 CFR 107.1900) to function as a small business investment company under... SMALL BUSINESS ADMINISTRATION Surrender of License of Small Business Investment Company Pursuant...

77 FR 12641 - Surrender of License of Small Business Investment Company

Science.gov (United States)

2012-03-01

... Investment Act of 1958, under Section 309 of the Act and Section 107.1900 of the Small Business Administration Rules and Regulations (13 CFR 107.1900) to function as a small business investment company under... SMALL BUSINESS ADMINISTRATION Surrender of License of Small Business Investment Company Pursuant...

78 FR 4189 - Surrender of License of Small Business Investment Company

Science.gov (United States)

2013-01-18

... Investment Act of 1958, under Section 309 of the Act and Section 107.1900 of the Small Business Administration Rules and Regulations (13 CFR 107.1900) to function as a small business investment company under... SMALL BUSINESS ADMINISTRATION Surrender of License of Small Business Investment Company Pursuant...

76 FR 2189 - Surrender of License of Small Business Investment Company

Science.gov (United States)

2011-01-12

... Investment Act of 1958, under Section 309 of the Act and Section 107.1900 of the Small Business Administration Rules and Regulations (13 CFR 107.1900) to function as a small business investment company under... SMALL BUSINESS ADMINISTRATION Surrender of License of Small Business Investment Company Pursuant...

75 FR 14644 - Surrender of License of Small Business Investment Company

Science.gov (United States)

2010-03-26

... Investment Act of 1958, under section 309 of the Act and section 107.1900 of the Small Business Administration Rules and Regulations (13 CFR 107.1900) to function as a small business investment company under... SMALL BUSINESS ADMINISTRATION Surrender of License of Small Business Investment Company Pursuant...

76 FR 56864 - Surrender of License of Small Business Investment Company

Science.gov (United States)

2011-09-14

... Investment Act of 1958, under Section 309 of the Act and Section 107.1900 of the Small Business Administration Rules and Regulations (13 CFR 107.1900) to function as a small business investment company under... SMALL BUSINESS ADMINISTRATION Surrender of License of Small Business Investment Company Pursuant...

17 CFR 270.3a-3 - Certain investment companies owned by companies which are not investment companies.

Science.gov (United States)

2010-04-01

... the definition of the term “investment company” by section 3(b)(1) or 3(b)(2) of the Act (15 U.S.C... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Certain investment companies owned by companies which are not investment companies. 270.3a-3 Section 270.3a-3 Commodity and...

ESG Integration and the Investment Management Process : Fundamental Investing Reinvented

NARCIS (Netherlands)

van Duuren, Emiel; Plantinga, Auke; Scholtens, Bert

2016-01-01

We investigate how conventional asset managers account for environmental, social and governance factors (ESG) in their investment process. We do so on the basis of an international survey among fund managers. We find that many conventional managers integrate responsible investing in their investment

17 CFR 256.136 - Temporary cash investments.

Science.gov (United States)

2010-04-01

... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Temporary cash investments... UTILITY HOLDING COMPANY ACT OF 1935 3. Current and Accrued Assets § 256.136 Temporary cash investments. This account shall include the cost of investments, such as demand and time loans, bankers' acceptances...

Can environmental investment and expenditure enhance financial performance of US electric utility firms under the clean air act amendment of 1990?

International Nuclear Information System (INIS)

Sueyoshi, Toshiyuki; Goto, Mika

2009-01-01

This study investigates the causality from environmental investment (as a long-term effort) and expenditure (as a short-term effort) to financial performance in the US electric utility industry. The industry is one of the large air polluters in the United States. This empirical study finds that the environmental expenditure under the US Clean Air Act has had a negative impact from 1989 to 2001. The negative impact has become much effective after the implementation of the Title IV Program (1995) of the US Clean Air Act. This study cannot find the influence of environmental investment on financial performance by a statistical test although it indicates a positive impact. In the United States, fossil-fueled power plants such as coal-fired ones still produce a large portion of electricity. The generation structure is inconsistent with the betterment in the US environmental protection and imposes a financial burden to electric utility firms.

76 FR 53702 - Sunshine Act Meeting

Science.gov (United States)

2011-08-29

... concept release and request public comment on a wide range of issues under the Investment Company Act raised by the use of derivatives by investment companies regulated under that Act. Item 2: The Commission... of investment company. The second release is a concept release to solicit public comment on...

The Drivers of Responsible Investment : The Case of European Pension Funds

NARCIS (Netherlands)

Sievanen, Riikka; Rita, Hannu; Scholtens, Bert

We investigate what drives responsible investment of European pension funds. Pension funds are institutional investors who assure the income of part of the population for a long period of time. Increasingly, stakeholders hold pension funds accountable for the non-financial consequences of their

76 FR 72729 - SEI Investments Management Corporation, et al.

Science.gov (United States)

2011-11-25

...] SEI Investments Management Corporation, et al. November 18, 2011. AGENCY: Securities and Exchange... Application: Applicants request an order to permit open-end management investment companies relying on rule 12d1-2 under the Act to invest in certain financial instruments. Applicants: SEI Investments Management...

17 CFR 1.27 - Record of investments.

Science.gov (United States)

2010-04-01

... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Record of investments. 1.27... UNDER THE COMMODITY EXCHANGE ACT Customers' Money, Securities, and Property § 1.27 Record of investments... record showing the following: (1) The date on which such investments were made; (2) The name of the...

75 FR 21372 - Calvert Social Investment Fund, et al.; Notice of Application

Science.gov (United States)

2010-04-23

... SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 29209; File No. 812-13718] Calvert Social Investment Fund, et al.; Notice of Application April 19, 2010. AGENCY: Securities and... Company Act of 1940 (``Act'') for an exemption from rule 12d1-2(a) under the Act. Summary of Application...

20 CFR 628.215 - State Human Resource Investment Council.

Science.gov (United States)

2010-04-01

... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false State Human Resource Investment Council. 628... PROGRAMS UNDER TITLE II OF THE JOB TRAINING PARTNERSHIP ACT State Planning § 628.215 State Human Resource..., 702, and 703 of the Act, establish a State Human Resource Investment Council (HRIC). The HRIC's...

78 FR 39023 - ING Investments, LLC, et al.;

Science.gov (United States)

2013-06-28

... SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 30566; File No. 812-14111] ING Investments, LLC, et al.; Notice of Application June 24, 2013. AGENCY: Securities and Exchange Commission (``Commission''). ACTION: Notice of an application under section 6(c) of the Investment Company...

Can environmental investment and expenditure enhance financial performance of US electric utility firms under the clean air act amendment of 1990?

Energy Technology Data Exchange (ETDEWEB)

Sueyoshi, Toshiyuki [New Mexico Institute of Mining and Technology, Department of Management, 801 Leroy Place, Socorro, NM 87801 (United States); National Cheng Kung University, College of Business, Department of Industrial and Information Management, Tainan (China); Goto, Mika [Central Research Institute of Electric Power Industry, 2-11-1, Iwado Kita, Komae-shi, Tokyo, 201-8511 (Japan)

2009-11-15

This study investigates the causality from environmental investment (as a long-term effort) and expenditure (as a short-term effort) to financial performance in the US electric utility industry. The industry is one of the large air polluters in the United States. This empirical study finds that the environmental expenditure under the US Clean Air Act has had a negative impact from 1989 to 2001. The negative impact has become much effective after the implementation of the Title IV Program (1995) of the US Clean Air Act. This study cannot find the influence of environmental investment on financial performance by a statistical test although it indicates a positive impact. In the United States, fossil-fueled power plants such as coal-fired ones still produce a large portion of electricity. The generation structure is inconsistent with the betterment in the US environmental protection and imposes a financial burden to electric utility firms. (author)

Evaluation of Representative Smart Grid Investment Project Technologies: Demand Response

Energy Technology Data Exchange (ETDEWEB)

Fuller, Jason C.; Prakash Kumar, Nirupama; Bonebrake, Christopher A.

2012-02-14

This document is one of a series of reports estimating the benefits of deploying technologies similar to those implemented on the Smart Grid Investment Grant (SGIG) projects. Four technical reports cover the various types of technologies deployed in the SGIG projects, distribution automation, demand response, energy storage, and renewables integration. A fifth report in the series examines the benefits of deploying these technologies on a national level. This technical report examines the impacts of a limited number of demand response technologies and implementations deployed in the SGIG projects.

Development of Investment Strategy Applying Corporate Social Responsibility

Directory of Open Access Journals (Sweden)

Jekaterina Kuzmina

2017-12-01

Full Text Available Purpose of the article: Due to globalization processes and technological development, companies are having more influence on global society than ever. Therefore, business misconduct causes enormous harm to stakeholders, whereas ethical behavior is becoming an important issue. The goal of the following study is to verify and measure a positive effect from investments in social activities on financial attractiveness of companies in the form of its stock portfolio value growth. Methodology/methods: In order to achieve the goal of the research, quantitative analysis is used by comparing performance of stock portfolio of companies having long-term investments in social activities with market index increment. The quantitative results are accompanied with the review of corporate social responsibility definition and some practical issues on governmental and corporation level. Scientific aim: The conducted research contributes both to the scientific discussion about development of appropriate investment strategy in companies applying CSR principles as well as to the discussion of related terminology used in the field. Findings: The research has shown that engagement in the CSR activities tends to have strong positive effect on companies’ financial results and investors’ financial performance. The research proves this fact by comparing value increment of CSR-portfolio (+35.99% gained from January 2015 to March 2017 with market index (+22.37% in the same period. Conclusions: Regardless the positive result achieved in the study the authors have determined several gaps in the research, which will be discussed in the further studies on the field.

17 CFR 274.11 - Form N-1, registration statement of open-end management investment companies.

Science.gov (United States)

2010-04-01

... statement of open-end management investment companies. 274.11 Section 274.11 Commodity and Securities Exchanges SECURITIES AND EXCHANGE COMMISSION (CONTINUED) FORMS PRESCRIBED UNDER THE INVESTMENT COMPANY ACT...(b) of the Investment Company Act of 1940 by open-end management investment companies that are...

78 FR 8611 - WINCO Investment Partnership 2008 L.P. and Winstead PC; Notice of Application

Science.gov (United States)

2013-02-06

...-1 also requires that every registered investment company adopt a written code of ethics and that... SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 30374; File No. 813-374... sections 6(b) and 6(e) of the Investment Company Act of 1940 (the ``Act'') granting an exemption from all...

17 CFR 256.411.5 - Investment tax credit.

Science.gov (United States)

2010-04-01

... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Investment tax credit. 256.411... HOLDING COMPANY ACT OF 1935 Income and Expense Accounts § 256.411.5 Investment tax credit. (a) This account shall be debited with the amounts of investment tax credits related to service company property...

78 FR 40213 - Charles Schwab Investment Management, Inc., et al.;

Science.gov (United States)

2013-07-03

... Schwab Investment Management, Inc., et al.; Notice of Application June 27, 2013. AGENCY: Securities and... exemption from sections 12(d)(1)(A) and (B) of the Act. Applicants: Charles Schwab Investment Management...) certain registered management investment companies and unit investment trusts outside of the same group of...

29 CFR 2550.404a-1 - Investment duties.

Science.gov (United States)

2010-07-01

... circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would... involved, including the role the investment or investment course of action plays in that portion of the...

26 CFR 1.1247-1 - Election by foreign investment companies to distribute income currently.

Science.gov (United States)

2010-04-01

... (2) of this paragraph, then section 1246 (relating to gain on foreign investment company stock) shall... investment trust. Under such Act, a company is deemed registered upon receipt by the Securities and Exchange... filed with the Securities and Exchange Commission under the Investment Company Act of 1940, such...

California Adult Education End-of-Year Progress Report to the Legislature: Implementation of the Workforce Investment Act (WIA) Title II. Program Year 2008. July 1, 2007 to June 30, 2008

Science.gov (United States)

CASAS - Comprehensive Adult Student Assessment Systems (NJ1), 2009

2009-01-01

The Federal Workforce Investment Act (WIA) Title II, Adult Education and Family Literacy Act provides funding for states and territories to provide instruction in English as a Second Language (ESL), Adult Basic Education (ABE), and Adult Secondary Education (ASE) to adults in need of these literacy services. California State Budget Act language…

California Adult Education End-of-Year Progress Report to the Legislature: Implementation of the Workforce Investment Act (WIA) Title II. Program Year 2009. July 1, 2008 to June 30, 2009

Science.gov (United States)

CASAS - Comprehensive Adult Student Assessment Systems (NJ1), 2010

2010-01-01

The Federal Workforce Investment Act (WIA) Title II, Adult Education and Family Literacy Act provides funding for states and territories to provide instruction in English as a Second Language (ESL), Adult Basic Education (ABE), and Adult Secondary Education (ASE) to adults in need of these literacy services. California State Budget Act language…

A legal study on mining investment in India

Energy Technology Data Exchange (ETDEWEB)

Lee, Kyeong Han [Korea Institute of Geology Mining and Materials, Taejon (Korea, Republic of)

1997-12-01

India having a high potentiality of mineral resources has been changing its economic structure from a state governing system to a liberalized one since 1991 after Mr. Lao was elected as a Prime Minister. Since then, all the policies have been focused on luring foreign investment through providing lots of tax incentives and favorable investment environment. Mining industry which accounts about 3.5% of the GDP is also opened to foreign investors as well as private sector after amendment of the Mines and Minerals (Regulation and Development) Act in March, 1994. The Indian Government`s Ministry of Mines regulates and promotes mining sector, other than coal, oil and natural gas and atomic minerals. Traditionally as the government is organized to manage industries from upstream to downstream, coal is controlled by the Ministry of Coal and Oil and Natural gas is under the Ministry of Oil and Natural gas. Environmental controls for the mining sector are regulated by the Environment (Protection) Act, 1986, the Forest conservation Act, 1980, the MMRD Act and rules made under it. In Oil and Natural Gas sector, the Central Government is empowered by the Oilfield (Regulation and Development) Act, 1948 to grant mining rights for the exploration and production of mineral oil and natural gas. In 1993, the Coal Mines Nationalization Act, 1973 was amended to permit power and cement plants to mine coal for captive consumption. Recently the government has announced the Integrated Coal Policy (ICP), which envisages allotment of coal mining blocks to any company registered under the Indian Company Law. Social infrastructures are not sufficient to match expected increasing demand. Expansion of transportation facilities and Power capacity are urgent matters to support its economy. Considering the investment environment and resources potentiality, India is one of the attractive country to invest. However, as the policies and other relevant legislative frameworks are revised so fast in

Corporate Social Responsibility as a Strategic Means to Attract Foreign Investment: Evidence from Korea

Directory of Open Access Journals (Sweden)

Juil Lee

2017-11-01

Full Text Available This study examines how foreign investment can be driven by corporate social responsibility (CSR. By specifying the underlying mechanism of foreign investors’ stock picking behavior, we argue that CSR can attract foreign investment. Given that CSR actions are taken to meet various needs of its stakeholders, the host firm can convey a reliable signal to foreign investors as well as the stakeholders. As such, foreign investments can be increased in the host firm. This idea is examined in a sample of Korean firms. We hypothesize that Korean firms, as host firms, will have more foreign investments, instantiated by foreign ownership, if they are more actively engaged in CSR. To test this argument, we collected a panel dataset of the Korea Economic Justice Institute (KEJI Index between 2004 and 2009 to measure CSR performance of the firm. We estimated foreign ownership with respect to CSR performance. As a result, we found a positive effect of CSR performance on foreign ownership. Given the importance of foreign investment in host countries, this study opens an avenue that can account for foreign investors’ stock-picking behavior.

Invester Response to Consumer Elasticity, Nordic Energy Research

DEFF Research Database (Denmark)

Jensen, Stine Grenaa; Meibom, Peter; Ravn, Hans V.

2004-01-01

. The simulated investment decisions are taken in a stochastic, dynamic setting, where a key point is the timing of the investment decision in relation to the gathering of new information relative to the stochastic elements. Based on this, the consequences of the development in consumer price elasticity......, and it is generally assumed that the demand side has an important role in this, and increasingly so. However, since consumers have not earlier had the incentive to respond to electricity prices, no reliable estimate of demand elasticity is known. The purpose of the present study is to analyse the role of electricity...... demand elasticity for investments in new electricity production capacity. Electricity price scenarios generated with a partial equilibrium model (Balmorel) are combined with a model of investment decisions. In this, various scenarios concerning the development in the demand elasticity are used...

The Impact of Corporate Social Responsibility on the Investment Attractiveness of the Russian Companies

Directory of Open Access Journals (Sweden)

Natalia Removna Kelchevskaya

2017-03-01

Full Text Available Investigation of the impact of corporate social responsibility (CSR and environmental responsibility on the economic performance over the past decades has shown that the implementation of CSR is one of the key drivers of value creation. Disclosure of social policy is one of the key CSR areas, it reduces information asymmetry and also contributes to the company’s reputation, decreasing uncertainty and risk in the assessment of the internal environment. This study shows that the disclosure of CSR information is able to increase the investment attractiveness of companies, and reduce the cost of equity. In the last decade, Russian industry has accumulated considerable positive experience in the implementing and positioning of corporate social responsibility (CSR technologies, which has yet to be assessed. In this paper, we used the sample of social reports of 18 Russian companies in the period from 2004 to 2014. The authors provided content-analysis of information disclosure dimensions including staff training, social policy, charity and environmental responsibility. In contrast to other studies, the results show a comparatively moderate impact of disclosure on the cost of equity capital. Also, we found that different dimensions of the disclosure have an ambiguous impact on the investment attractiveness of companies. Our results allow formulating practical recommendations for the management of metallurgical, oil and gas Russian companies to increase their investment attractiveness, in particular, a prudent choice of CSR information for disclosure. The study is unique for the Russian practice of evaluating the effectiveness of CSR, as it is based on a sample of the largest industrial enterprises

17 CFR 274.11A - Form N-1A, registration statement of open-end management investment companies.

Science.gov (United States)

2010-04-01

... statement of open-end management investment companies. 274.11A Section 274.11A Commodity and Securities...(b) of the Investment Company Act of 1940 by open-end management investment companies other than... registration under the Securities Act of 1933 of the securities of all open-end management investment companies...

Exposure to socially responsible investing of mutual funds in the Euronext stock markets

NARCIS (Netherlands)

Plantinga, Auke; Scholtens, Bert; Brunia, Nanne

2002-01-01

This paper analyses fund management and exposure on the Euronext stock exchanges. Especially, we investigate to what extent mutual funds are engaged in socially responsible investing (SRI). In order to accomplish this goal, we use regression analysis to measure the exposure of mutual funds to stock

Investment Activities within the Legal Framework of the World Trade Organization

Directory of Open Access Journals (Sweden)

Gulnara Ruchkina

2015-01-01

Full Text Available This article contains an analysis of legal regulation of investment activities within the framework of the WTO. It considers factors that promote the establishment of a favorable investment climate, including the availability of special legislation, an efficient law enforcement practice and, as noted by many experts, availability and clarity of the judicial mechanism for the protection of violated rights. Recent foreign experience is analyzed and some issues of investment dispute settlement are considered. The article also deals with issues concerning the formation of competitive relations that, in their turn, also constitute an important factor of a state’s investment appeal.Investment activities constitute a popular type of entrepreneurial activity. Every state, regardless of where it is located or its level of economic development, aims to increase its investment activities and raise foreign investment inflow. To do this they adopt national regulatory acts and sign bilateral agreements, multilateral agreements, and execute international legal acts in the area of investment activities. This results in the need for examination of legal regulation in this area. Russia joining the WTO has resulted in regular revisions of current legal regulation, in particular in the law on foreign investments.

17 CFR 275.206(4)-1 - Advertisements by investment advisers.

Science.gov (United States)

2010-04-01

... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Advertisements by investment advisers. 275.206(4)-1 Section 275.206(4)-1 Commodity and Securities Exchanges SECURITIES AND EXCHANGE COMMISSION (CONTINUED) RULES AND REGULATIONS, INVESTMENT ADVISERS ACT OF 1940 § 275.206(4)-1 Advertisements by investment advisers. (a) It shall...

29 CFR 2520.103-11 - Assets held for investment purposes.

Science.gov (United States)

2010-07-01

... Securities Exchange Act of 1934 or quoted on NASDAQ; (3) Assets held for investment purposes shall not... assets held for investment purposes the 1,000 shares of stock S under paragraph (b)(1) of this section... 29 Labor 9 2010-07-01 2010-07-01 false Assets held for investment purposes. 2520.103-11 Section...

77 FR 44700 - Saratoga Investment Corp., et al.; Notice of Application

Science.gov (United States)

2012-07-30

... lesser extent equity. The Investment Adviser, a Delaware limited liability company, is the investment..., a Delaware limited partnership, is a small business investment company (``SBIC'') licensed by the... Act. The Company directly owns 99% of Saratoga SBIC in the form of a limited partnership interest and...

78 FR 27444 - Forum Investment Advisors, LLC, et al.;

Science.gov (United States)

2013-05-10

... SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 30507; 812-13915] Forum Investment Advisors, LLC, et al.; Notice of Application May 6, 2013. AGENCY: Securities and Exchange Commission (``Commission''). ACTION: Notice of an application for an order under section 6(c) of the...

Comprehensive Environmental Response, Compensation and Liability Act

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — This data represents geographic terms used within the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). CERCLA, commonly known as...

Recovery act : states' use of highway infrastructure funds and compliance with the act's requirements.

Science.gov (United States)

2009-01-01

The American Recovery and Reinvestment Act of 2009 (Recovery Act) included more than $48 billion for the Department of Transportations (DOT) investment in transportation infrastructure, including highways, rail, and transit. This testimonybased...

Socially responsible investing and management style of mutual funds in the euronext stock markets

NARCIS (Netherlands)

Plantinga, Auke; Scholtens, Bert

2001-01-01

This paper analyses fund management styles on the Euronext stock exchanges. Especially, we investigate how social responsibility is accounted for. We use style analysis to assess fund performance in Belgium, France, and the Netherlands for over 800 investment funds during the 1990s. We find

17 CFR 270.3a-1 - Certain prima facie investment companies.

Science.gov (United States)

2010-04-01

... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Certain prima facie investment companies. 270.3a-1 Section 270.3a-1 Commodity and Securities Exchanges SECURITIES AND EXCHANGE COMMISSION (CONTINUED) RULES AND REGULATIONS, INVESTMENT COMPANY ACT OF 1940 § 270.3a-1 Certain prima facie investment...

78 FR 54294 - Investment Company Act Release No. 30679; File No. 812-14167

Science.gov (United States)

2013-09-03

... California corporation and TAML is a Singapore company, and each is registered as an investment adviser under... additional information the method of computing the ``advisory fee payable'' by the investment company...

78 FR 40690 - Proposed Information Collection; Comment Request; Direct Investment Surveys: BE-577, Quarterly...

Science.gov (United States)

2013-07-08

... Request; Direct Investment Surveys: BE-577, Quarterly Survey of U.S. Direct Investment Abroad... Sarahelen Thompson, Acting Chief, Direct Investment Division (BE-50), Bureau of Economic Analysis, U.S... Investment Abroad--Transactions of U.S. Reporter with Foreign Affiliate (Form BE-577), obtains quarterly data...

The glucocorticoid stress response is attenuated but unrelated to reproductive investment during parental care in a teleost fish.

Science.gov (United States)

O'Connor, Constance M; Yick, Claire Y; Gilmour, Kathleen M; Van Der Kraak, Glen; Cooke, Steven J

2011-01-15

We investigated whether circulating glucocorticoids and androgens are correlated with reproductive investment in smallmouth bass (Micropterus dolomieu), a teleost fish with sole paternal care. Circulating cortisol and androgens prior to and 25 min following a standardized 3 min emersion stressor were quantified for non-reproductive and parental fish across the parental care period. To experimentally investigate the influence of reproductive investment on endocrine parameters, we manipulated brood size (reduced, enlarged, sham-treated, or unmanipulated) 24h prior to sampling parental fish. We predicted that fish guarding offspring would exhibit increased androgens and baseline cortisol levels, and an attenuated cortisol response to the stressor when compared with non-reproductive individuals. We further predicted that these effects would scale with reproductive investment. As predicted, parental care-providing fish exhibited lower post-stress plasma cortisol concentrations than non-reproductive fish. This difference was strongest early during parental care. However, no differences in baseline or post-stress cortisol concentrations were detected among parents guarding offspring with varying brood sizes. There was, however, a trend for parental fish to exhibit an increased cortisol response following brood manipulation, regardless of the direction of change in brood size, a response that likely reflected disturbance. No differences were found in baseline cortisol concentrations. Circulating androgens were found to be highest during early parental care, and no differences were found among parents guarding manipulated broods. Collectively, these findings demonstrate that the endocrine stress response is affected by reproductive status, but the response in this model species does not appear to be scaled according to reproductive investment as predicted by life-history theory. Copyright © 2010 Elsevier Inc. All rights reserved.

76 FR 14652 - Port Barre Investments, L.L.C.; Notice of Application

Science.gov (United States)

2011-03-17

... Investments, L.L.C.; Notice of Application Take notice that on March 4, 2011, Port Barre Investments, L.L.C. (Bobcat) filed in Docket No. CP11-124-000 an application pursuant to section 7(c) of the Natural Gas Act... Investments, L.L.C., 126 FERC ] 61,240 (2009). \\2\\ Port Barre Investments, L.L.C., 130 FERC ] 62,272 (2010...

Socially responsible investments

CERN Multimedia

Antonella Del Rosso

2012-01-01

In addition to well-established working principles based on conservative and capital preservation oriented investments that ensure it a sustainable future, the CERN Pension Fund recently introduced a new criterion for selecting the numerous opportunities that the market offers: philanthropy. Its first initiative, which also involves the Staff Association’s Long-Term Collection, will help support two orphanages in China.   The two charities are located near Beijing. Beijing’s “China Children Charity and Foundation” is an orphanage that cares for up to 80 babies who need surgery to correct birth defects. The other, “Hope Healing Home”, is an organization that deals with 300 babies and cares for sick and physically disabled babies who have been abandoned. All these babies are awaiting treatment and a medical solution. The CERN Pension Fund has over 6700 members. To ensure the greatest efficiency and profitability, the Fund’s por...

17 CFR 274.5 - Form N-5, for registration statement of small business investment company under the Securities...

Science.gov (United States)

2010-04-01

... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Form N-5, for registration statement of small business investment company under the Securities Act of 1933 and the Investment Company...-5, for registration statement of small business investment company under the Securities Act of 1933...

76 FR 60094 - DFA Investment Dimensions Group Inc., et al.; Notice of Application

Science.gov (United States)

2011-09-28

... SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 29820; File No. 812-13943] DFA Investment Dimensions Group Inc., et al.; Notice of Application September 22, 2011. AGENCY... 10% of the acquired company's voting stock to be owned by investment companies and companies...

Organization of cis-acting regulatory elements in osmotic- and cold-stress-responsive promoters.

Science.gov (United States)

Yamaguchi-Shinozaki, Kazuko; Shinozaki, Kazuo

2005-02-01

cis-Acting regulatory elements are important molecular switches involved in the transcriptional regulation of a dynamic network of gene activities controlling various biological processes, including abiotic stress responses, hormone responses and developmental processes. In particular, understanding regulatory gene networks in stress response cascades depends on successful functional analyses of cis-acting elements. The ever-improving accuracy of transcriptome expression profiling has led to the identification of various combinations of cis-acting elements in the promoter regions of stress-inducible genes involved in stress and hormone responses. Here we discuss major cis-acting elements, such as the ABA-responsive element (ABRE) and the dehydration-responsive element/C-repeat (DRE/CRT), that are a vital part of ABA-dependent and ABA-independent gene expression in osmotic and cold stress responses.

Flexible investment under uncertainty in smart distribution networks with demand side response: Assessment framework and practical implementation

International Nuclear Information System (INIS)

Schachter, Jonathan A.; Mancarella, Pierluigi; Moriarty, John; Shaw, Rita

2016-01-01

Classical deterministic models applied to investment valuation in distribution networks may not be adequate for a range of real-world decision-making scenarios as they effectively ignore the uncertainty found in the most important variables driving network planning (e.g., load growth). As greater uncertainty is expected from growing distributed energy resources in distribution networks, there is an increasing risk of investing in too much or too little network capacity and hence causing the stranding and inefficient use of network assets; these costs are then passed on to the end-user. An alternative emerging solution in the context of smart grid development is to release untapped network capacity through Demand-Side Response (DSR). However, to date there is no approach able to quantify the value of ‘smart’ DSR solutions against ‘conventional’ asset-heavy investments. On these premises, this paper presents a general real options framework and a novel probabilistic tool for the economic assessment of DSR for smart distribution network planning under uncertainty, which allows the modeling and comparison of multiple investment strategies, including DSR and capacity reinforcements, based on different cost and risk metrics. In particular the model provides an explicit quantification of the economic value of DSR against alternative investment strategies. Through sensitivity analysis it is able to indicate the maximum price payable for DSR service such that DSR remains economically optimal against these alternatives. The proposed model thus provides Regulators with clear insights for overseeing DSR contractual arrangements. Further it highlights that differences exist in the economic perspective of the regulated DNO business and of customers. Our proposed model is therefore capable of highlighting instances where a particular investment strategy is favorable to the DNO but not to its customers, or vice-versa, and thus aspects of the regulatory framework which may

Environmental investment funds. Investing into the future. Umweltfonds. Investieren in die Zukunft

Energy Technology Data Exchange (ETDEWEB)

Homolka, W [Bayerische Hypotheken- und Wechsel-Bank AG, Muenchen (Germany)

1990-01-01

The book wants to show that ecologically oriented and socially responsible investment has so far been underrated as a criterion of choice for finance decisions. Environmental investment funds offer the chance to make important investments into the future and the development of new technologies and methods of production, provided the openness of their claim is appreciated which is to go for anything that will improve our environment. Such confidence in the positive forces of the market is adequately rewarded, as international examples show. Environmental investment funds are a form of finance management for far-sighted investors and who are committed to the environment. The author presents the bases of ethic-ecologically oriented fund investment, reports experience abroad, and gives a current overview of the situation, nationally and internationally, in this sector of the finance market. (orig./HSCH).

76 FR 57087 - Stone Harbor Investment Partners LP, et al.; Notice of Application

Science.gov (United States)

2011-09-15

... SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 29784; File No. 812-13931] Stone Harbor Investment Partners LP, et al.; Notice of Application September 7, 2011. AGENCY: Securities..., or cause more than 10% of the acquired company's voting stock to be owned by investment companies and...

17 CFR 275.203-1 - Application for investment adviser registration.

Science.gov (United States)

2010-04-01

... must file electronically with the Investment Adviser Registration Depository (IARD), unless you have... you have paid the filing fee. [65 FR 57448, Sept. 22, 2000; 65 FR 81737, Dec. 27, 2000; 68 FR 42248... EXCHANGE COMMISSION (CONTINUED) RULES AND REGULATIONS, INVESTMENT ADVISERS ACT OF 1940 § 275.203-1...

78 FR 41031 - Proposed Information Collection; Comment Request; Direct Investment Surveys: BE-11, Annual Survey...

Science.gov (United States)

2013-07-09

... owning foreign business enterprises in the 2009 benchmark survey of U.S. direct investment abroad, along... Request; Direct Investment Surveys: BE-11, Annual Survey of U.S. Direct Investment Abroad AGENCY: Bureau... to Sarahelen Thompson, Acting Chief, Direct Investment Division (BE-50), Bureau of Economic Analysis...

Socially Responsible Investment and Fiduciary Duty: Putting the Freshfields Report into Perspective

OpenAIRE

Sandberg, Joakim

2010-01-01

A critical issue for the future growth and impact of socially responsible investment (SRI) is whether institutional investors are legally permitted to engage in it – in particular whether it is compatible with the fiduciary duties of trustees. An ambitious report from the United Nations Environment Programme’s Finance Initiative (UNEP FI), commonly referred to as the ‘Freshfields report’, has recently given rise to considerable optimism on this issue among proponents of SRI. The present paper...

12 CFR 250.200 - Investment in bank premises by holding company banks.

Science.gov (United States)

2010-01-01

... of the Federal Reserve System, shall (1) invest in bank premises, or in the stock, bonds, debentures... determining under section 24A of the Federal Reserve Act (12 U.S.C. 371d) how much may be invested in bank... or upon the security of the stock of any such corporation, if the aggregate of all such investments...

78 FR 11702 - AdvisorShares Investments, LLC and AdvisorShares Trust; Notice of Application

Science.gov (United States)

2013-02-19

..., American Wealth Management, Trim Tabs Asset Management, LLC, Rockledge Advisors, LLC, Your Source Financial... of Investment Management, Office of Investment Company Regulation). SUPPLEMENTARY INFORMATION: The... organized as a Delaware statutory trust and is registered under the Act as an open-end management investment...

Investing for a low carbon economy. Special issue COP21

International Nuclear Information System (INIS)

Guez, Herve; Basselier, Clotilde; Bennani, Zineb; Coeslier, Manuel; Dufour, Mathilde; Dunand-Chatellet, Lea; Guez, Herve; Lauverjat Celine; Ostiari, Emmanuelle; Smia, Ladislas; Bonnin, Marguerite; Briand, Marc; Favier, Julien; Finidori, Esther; Wigley, Chris; Dobie, Jacqueline; Mary Ellis, Susannah; Kiernan, Shannon; Lefer, Elizabeth; Perrin, Elsa; Treadwell, Christopher; Zerner, Rachel

2015-11-01

Mirova, an asset management firm dedicated to responsible investment, has published today Investing in a low-carbon economy, a guide for investors to become COP21 compliant. Mirova's study provides an in-depth analysis highlighting the challenges of climate change and presents methods for investors to effectively measure their carbon footprint. Mirova offers a unique range of investment solutions promoting energy transition across all asset classes. COP21: mobilising private investors is a necessity To maintain the economy in a '2 degree' trajectory, it is vital to redirect savings towards companies and projects promoting energy transition. Philippe Zaouati, Head of Mirova explains: 'The energy transition can only succeed if we manage to mobilise private investors' savings. The success of COP21 therefore also depends on the ability of asset management firms to propose solutions in response to the climate challenge, whilst delivering the returns expected by investors'. Accurately measuring your carbon footprint. In response to growing demands on investors to make greener investments, Mirova, in partnership with the leading carbon strategy specialist consultant Carbone 4, has developed an innovative methodology to measure the carbon footprint of an investment portfolio. This decision-making tool assesses a company's contribution to the reduction of global greenhouse gas emissions (GGE). Measuring the overall impact of a business on the environment is an essential step towards acting against global warming. Assessing the carbon footprint is therefore an indispensable stage in the construction of portfolios contributing to energy transition. Low-carbon investments across all asset classes In order to redirect capital towards investments promoting energy transition, Mirova is proposing solutions involving all asset classes: - Renewable energy infrastructures: 100% low carbon allocation For more than 10 years now, Mirova has provided European institutions with access to

Simulation of investment returns of toll projects.

Science.gov (United States)

2013-08-01

This research develops a methodological framework to illustrate key stages in applying the simulation of investment returns of toll projects, acting as an example process of helping agencies conduct numerical risk analysis by taking certain uncertain...

Incorporating the effects of socioeconomic uncertainty into priority setting for conservation investment.

Science.gov (United States)

McBride, Marissa F; Wilson, Kerrie A; Bode, Michael; Possingham, Hugh P

2007-12-01

Uncertainty in the implementation and outcomes of conservation actions that is not accounted for leaves conservation plans vulnerable to potential changes in future conditions. We used a decision-theoretic approach to investigate the effects of two types of investment uncertainty on the optimal allocation of global conservation resources for land acquisition in the Mediterranean Basin. We considered uncertainty about (1) whether investment will continue and (2) whether the acquired biodiversity assets are secure, which we termed transaction uncertainty and performance uncertainty, respectively. We also developed and tested the robustness of different rules of thumb for guiding the allocation of conservation resources when these sources of uncertainty exist. In the presence of uncertainty in future investment ability (transaction uncertainty), the optimal strategy was opportunistic, meaning the investment priority should be to act where uncertainty is highest while investment remains possible. When there was a probability that investments would fail (performance uncertainty), the optimal solution became a complex trade-off between the immediate biodiversity benefits of acting in a region and the perceived longevity of the investment. In general, regions were prioritized for investment when they had the greatest performance certainty, even if an alternative region was highly threatened or had higher biodiversity value. The improved performance of rules of thumb when accounting for uncertainty highlights the importance of explicitly incorporating sources of investment uncertainty and evaluating potential conservation investments in the context of their likely long-term success.

[Analysis on funds application of community based organizations involved in HIV/AIDS response and government financial investment in China, 2014].

Science.gov (United States)

Zhang, G; Zhu, Y X; Wang, P; Liu, P; Li, J F; Sha, S; Yang, W Z; Li, H

2017-03-06

Objective: To understand the government financial investments to community based organizations (CBO) involved in HIV/AIDS Control and Prevention of China and its influencing factors. Methods: Questionnaire of the situation of CBO involved in HIV/AIDS control and prevention were designed, and filled by the staff of Provincial Health Administrative Departments of 31 provinces (autonomous regions and municipalities). The research focused on the fields of CBO involved in HIV/AIDS response in 31 provinces (autonomous regions and municipalities), including intervention on HIV/AIDS high risk population (female sex worker (FSW), man who sex with man (MSM), drug user (DU) and case management and care for people living with HIV/AIDS (PLWH)). 29 valid questionnaires were collecting, with Shanxi Province and Inner Mongolia Autonomous Regions not filled. Questionnaire included financial supports from local governments, transfer payment from central government for CBO involved in HIV/AIDS response in 2014, and unit cost for CBO involved in HIV/AIDS control and prevention. Multivariate analysis was conducted on the project application and financial investment of community based organizations involved in HIV/AIDS control and prevention in 2014. Results: The total amount of CBO to apply for participation in AIDS prevention and control was 64 482 828 Yuan in 2014. The actual total amount of investment was 50 616 367 Yuan, The investment came from the central government funding, the provincial level government funding, the prefecture and county level government funding investment and other sources of funding. 22 of 28 provinces (autonomous regions and municipalities) received the funds from the central government finance, and median of investment funds 500 000 Yuan. 15 provinces (autonomous regions and municipalities) gained the funds from the provincial government finance, and median of investment funds 350 000 Yuan. 12 provinces (autonomous regions and municipalities) got the funds

US Investment Treaties and Labor Standards

Directory of Open Access Journals (Sweden)

Kwan-Ho Kim

2006-06-01

Full Text Available Korea and the United States declared the start of negotiations for the establishment of a free trade agreement. The FTA will include investment chapter. That means the Korea-US BIT (Bilateral Investment Treaty talk, which has been deadlocked since 1998, resumes as a part of FTA negotiations. The FTA investment chapter will be based on the US model BIT, which has been updated in 2004. The updated BIT version includes labor clause which provides that parties should not weaken labor standards in an effort to attract foreign investment. This clause is grounded on the criticism raised by labor groups which asserts that competition among countries to attract foreign investment leads to bidding wars in labor standards. No solid evidence is found in support of the hypothesis that foreign investors favor countries with lower labor standards. Nonetheless, some countries have offered special incentives to investors that limit labor rights in the belief that doing so would help attract foreign investment, especially in export processing or special economic zones. In this regard, the Korea's Act on free economic zones which provides exceptional labor standards to foreign invested enterprise in those zones may become an issue in reaching the FTA. This article contemplates the "not lowering labor standards" provision in the US BIT model and its implications on the FTA talks with the US.

17 CFR 274.13 - Form N-8B-3, registration statement of unincorporated management investment companies currently...

Science.gov (United States)

2010-04-01

... statement of unincorporated management investment companies currently issuing periodic payment plan...-8B-3, registration statement of unincorporated management investment companies currently issuing..., pursuant to section 8(b) of the Investment Company Act of 1940, by unincorporated management investment...

77 FR 65025 - Trust for Professional Managers and Collins Capital Investments, LLC; Notice of Application

Science.gov (United States)

2012-10-24

... SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 30235; 812-14012] Trust for Professional Managers and Collins Capital Investments, LLC; Notice of Application October 18, 2012. AGENCY...: Trust for Professional Managers (the ``Trust'') and Collins Capital Investments, LLC (the ``Advisor...

12 CFR 25.23 - Investment test.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 1 2010-01-01 2010-01-01 false Investment test. 25.23 Section 25.23 Banks and Banking COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY COMMUNITY REINVESTMENT ACT AND INTERSTATE... minority neighborhood to a minority depository institution or women's depository institution (as these...

NASA/ESTO investments in remote sensing technologies (Conference Presentation)

Science.gov (United States)

Babu, Sachidananda R.

2017-02-01

For more then 18 years NASA Earth Science Technology Office has been investing in remote sensing technologies. During this period ESTO has invested in more then 900 tasks. These tasks are managed under multiple programs like Instrument Incubator Program (IIP), Advanced Component Technology (ACT), Advanced Information Systems Technology (AIST), In-Space Validation of Earth Science Technologies (InVEST), Sustainable Land Imaging - Technology (SLI-T) and others. This covers the whole spectrum of technologies from component to full up satellite in space and software. Over the years many of these technologies have been infused into space missions like Aquarius, SMAP, CYGNSS, SWOT, TEMPO and others. Over the years ESTO is actively investing in Infrared sensor technologies for space applications. Recent investments have been for SLI-T and InVEST program. On these tasks technology development is from simple Bolometers to Advanced Photonic waveguide based spectrometers. Some of the details on these missions and technologies will be presented.

Structure Optimization of Safety Investment of Petrochemical Port Enterprises

Directory of Open Access Journals (Sweden)

Zhiqiang Hou

2017-01-01

Full Text Available Safety investment is an essential guarantee to identify and manage potential security problems in petrochemical port enterprises. The reasonability of safety investment structure determines overall security risks in an enterprise. Based on the definition of risks, combining Cobb-Douglas production function with FTA probability model, and taking Gompertz curve model as the constraint condition, structure optimization model of safety investment is built in order to minimize risks and work out the safety investment structure of petrochemical port enterprises. According to the case study, the calculations indicate that safety investment in corporate management presents a larger growth rate than past years and that unsafe act of human being is the main factor accounting for the greatest probability of occurrence, which is consistent with previous accident investigation results as well as enterprise reality. This testifies that the model is effective and that the results can guide the allocation of safety investment of petrochemical port enterprises scientifically.

ESTO Investments in Innovative Sensor Technologies for Remote Sensing

Science.gov (United States)

Babu, Sachidananda R.

2017-01-01

For more then 18 years NASA Earth Science Technology Office has been investing in remote sensing technologies. During this period ESTO has invested in more then 900 tasks. These tasks are managed under multiple programs like Instrument Incubator Program (IIP), Advanced Component Technology (ACT), Advanced Information Systems Technology (AIST), In-Space Validation of Earth Science Technologies (InVEST), Sustainable Land Imaging - Technology (SLI-T) and others. This covers the whole spectrum of technologies from component to full up satellite in space and software. Over the years many of these technologies have been infused into space missions like Aquarius, SMAP, CYGNSS, SWOT, TEMPO and others. Over the years ESTO is actively investing in Infrared sensor technologies for space applications. Recent investments have been for SLI-T and InVEST program. On these tasks technology development is from simple Bolometers to Advanced Photonic waveguide based spectrometers. Some of the details on these missions and technologies will be presented.

Department of Energy Recovery Act Investment in Biomass Technologies

Energy Technology Data Exchange (ETDEWEB)

None

2010-11-01

The American Recovery and Reinvestment Act of 2009 (Recovery Act) provided more than $36 billion to the Department of Energy (DOE) to accelerate work on existing projects, undertake new and transformative research, and deploy clean energy technologies across the nation. Of this funding, $1029 million is supporting innovative work to advance biomass research, development, demonstration, and deployment.

A Framework for Managing a Portfolio of Socially Responsible Investments

NARCIS (Netherlands)

W.G.P.M. Hallerbach (Winfried); H. Ning (Haikun); A.B.M. Soppe (Aloy); J. Spronk (Jaap)

2002-01-01

textabstractIn this paper we present and illustrate using real-life data a framework for managing an investment portfolio in which the investment opportunities are described in terms of a set of attributes and part of this set is intended to capture the effects on society. Here we link with the

Estimating the impact of investment tax credits on aircraft demand

OpenAIRE

Mackay, Daniel

2011-01-01

This paper uses exogenous price changes from the shifting tax policies of the 1980’s to identify the parameters of a nested-logit discrete choice model of the aircraft market. The federal Investment Tax Credit (ITC) was a tax credit of 6-10% of a firm's new capital investment that was removed by the Tax Reform Act of 1986 (TRA86). Such tax credits continue to be proposed as tools to spur investment, and they are still utlized in many states and select industries. This research adds to the ...

Promote Long-term Low-risk Investment

Institute of Scientific and Technical Information of China (English)

无

2006-01-01

How do you pick stocks in China? Which sectors in the Ashare market have the greatest investment potential? What problems would China's stock market face if the economy contracts? These are questions Xinhua Finance's Money Journal recently put to the man responsible for Franklin Templeton Investments' fund management business in China,India and Brazil. Stephen H. Dover, Managing Director and International Chief Investment Officer for Franklin Templeton Advisors, the largest listed fund management company...

The requirements for implementing Sustainable Development Goals (SDGs) and for planning and implementing Integrated Territorial Investments (ITI) in mining areas

Science.gov (United States)

Florkowska, Lucyna; Bryt-Nitarska, Izabela

2018-04-01

The notion of Integrated Territorial Investments (ITI) appears more and more frequently in contemporary regional development strategies. Formulating the main assumptions of ITI is a response to a growing need for a co-ordinated, multi-dimensional regional development suitable for the characteristics of a given area. Activities are mainly aimed at improving people's quality of life with their significant participation. These activities include implementing the Sustainable development Goals (SDGs). Territorial investments include, among others, projects in areas where land and building use is governed not only by general regulations (Spatial Planning and Land Development Act) but also by separate legal acts. This issue also concerns areas with active mines and post-mining areas undergoing revitalization. For the areas specified above land development and in particular making building investments is subject to the requirements set forth in the Geological and Mining Law and in the general regulations. In practice this means that factors connected with the present and future mining impacts must be taken into consideration in planning the investment process. This article discusses the role of proper assessment of local geological conditions as well as the current and future mining situation in the context of proper planning and performance of the Integrated Territorial Investment programme and also in the context of implementing the SDGs. It also describes the technical and legislative factors which need to be taken into consideration in areas where mining is planned or where it took place in the past.

Business Systems Modernization: DOD Needs to Fully Define Policies and Procedures for Institutionally Managing Investments

National Research Council Canada - National Science Library

Hite, Randolph C; Doherty, Neil; Fraser, Nalani; Glover, Nancy; Holland, Michael; Lakhmani, Neelaxi; Mai, Jacqueline; Paul, Sabine; Tandon, Niti; Stavros-Turner, Jennifer

2007-01-01

.... In doing so, GAO applied its IT Investment Management framework and associated methodology, focusing on the framework's stages related to the investment management provisions of the Clinger-Cohen Act of 1996...

17 CFR 274.11a-1 - Form N-2, registration statement of closed end management investment companies.

Science.gov (United States)

2010-04-01

... statement of closed end management investment companies. 274.11a-1 Section 274.11a-1 Commodity and... management investment companies. This form shall be used as the registration statement to be filed pursuant to section 8(b) of the Investment Company Act of 1940 by closed end management investment companies...

Reform of investment policy in the function of sustainable development with special emphasis on investment in information technologies

Directory of Open Access Journals (Sweden)

Dragičević-Radičević Tatjana

2017-01-01

Full Text Available Global economy still records a decline in FDI. The main causes are increased economic instability and geopolitical risks. Given the continued negative trend, it is clear that it is necessary to reform the investment policies at the national, regional, bilateral, multilateral and international level, to ensure sustainable economic development. Key elements of the reforms are: to provide instruments to reduce risks, create mechanisms of responsible investment, improve the structural coherence and promote regional investments. Refer to the current dates of the sectors investments (according to the report of UNCTAD from 2015th shows that the services sector recorded double growth compared to the investment in the manufacturing sector in 2012. Also, if we take into consideration the fact that investment in IT sector investment involves three aspects: transactional (minimizing costs, strategic (innovation technologies, achieving competitiveness and information (improving access to information and communications, it may be assumed that the reforms in the investment policies should be directly correlated with investments in information technology.

Investment risks under uncertain climate change policy

International Nuclear Information System (INIS)

Blyth, William; Bradley, Richard; Yang, Ming; Bunn, Derek; Clarke, Charlie; Wilson, Tom

2007-01-01

This paper describes results from a model of decision-making under uncertainty using a real options methodology, developed by the International Energy Agency (IEA). The model represents investment decisions in power generation from the perspective of a private company. The investments are subject to uncertain future climate policy, which is treated as an external risk factor over which the company has no control. The aims of this paper are to (i) quantify these regulatory risks in order to improve understanding of how policy uncertainty may affect investment behaviour by private companies and (ii) illustrate the effectiveness of the real options approach as a policy analysis tool. The study analysed firms' investment options of coal- and gas-fired power plants and carbon capture and storage (CCS) technologies. Policy uncertainty is represented as an exogenous event that creates uncertainty in the carbon price. Our findings indicate that climate policy uncertainty creates a risk premium for power generation investments. In the case of gas- and coal-fired power generation, the risk premium would lead to an increase in electricity prices of 5-10% in order to stimulate investment. In the case of CCS, the risk premium would increase the carbon price required to stimulate investment by 16-37% compared to a situation of perfect certainty. The option to retrofit CCS acts as a hedge against high future carbon prices, and could accelerate investment in coal plant. This paper concludes that to minimise investment risks in low carbon technologies, policy-makers should aim to provide some long-term regulatory certainty. (author)

Partnering for Quality under the Workforce Investment Act: A Tool Kit for One-Stop System Building. Module 3: Collecting and Using Customer Feedback. Trainer Manual with Participant Workbook.

Science.gov (United States)

Kogan, Deborah; Koller, Vinz; Kozumplik, Richalene; Lawrence, Mary Ann

This document is part of a five-module training package to help employment and training service providers comply with the Workforce Investment Act (WIA) of 1998 and develop a one-stop training and employment services system. It contains the participant workbook, trainer manual, and activity worksheets for a module on collecting and using customer…

76 FR 62469 - Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940

Science.gov (United States)

2011-10-07

..., SEC, Division of Investment Management, Office of Investment Company Regulation, 100 F Street, NE... Management Corp., investment adviser for the acquiring fund, and Hartford Investment Financial Services, LLC... Columbia Management Investment Advisers, LLC, applicant's investment adviser. Filing Date: The application...

Earning capacity of environmentally friendly companies and social responsible investing; Miljoevennlige bedrifter gir like hoey avkastning som andre

Energy Technology Data Exchange (ETDEWEB)

Bjerk, Jan

2002-07-01

Firms on Dow Jones Sustainability Index yield over time the same return as the ''ordinary'' firms on the Dow Jones World Stock Index. There are several investment funds today that deal in shares with selected companies having a high environmental or ethical profile. This is Social Responsible Investing (SRI). When the Norwegian company Storebrand Kapitalforvaltning selects companies for SRI, they exclude immediately nuclear power stations, tobacco factories and manufacturers of land mines. In addition to the same return on invested capital, both investors and society get an environmental profit. The firms analysed and selected by Storebrand for SRI contributes significantly less negative environmental effects than the other firms, typically 33% less to the global heating and have on average 53% less toxic emissions and 45% less water consumption.

Earning capacity of environmentally friendly companies and social responsible investing; Miljoevennlige bedrifter gir like hoey avkastning som andre

Energy Technology Data Exchange (ETDEWEB)

Bjerk, Jan

2002-07-01

Firms on Dow Jones Sustainability Index yield over time the same return as the ''ordinary'' firms on the Dow Jones World Stock Index. There are several investment funds today that deal in shares with selected companies having a high environmental or ethical profile. This is Social Responsible Investing (SRI). When the Norwegian company Storebrand Kapitalforvaltning selects companies for SRI, they exclude immediately nuclear power stations, tobacco factories and manufacturers of land mines. In addition to the same return on invested capital, both investors and society get an environmental profit. The firms analysed and selected by Storebrand for SRI contributes significantly less negative environmental effects than the other firms, typically 33% less to the global heating and have on average 53% less toxic emissions and 45% less water consumption.

76 FR 27674 - PennantPark Investment Corporation, et al.; Notice of Application

Science.gov (United States)

2011-05-12

.... middle market private companies. The Investment Adviser, a Delaware limited liability company, is the... securities. 2. PennantPark SBIC, a Delaware limited liability company, is a small business investment company... section 3(c)(7) of the Act. The Company directly owns 99% of PennantPark SBIC in the form of limited...

Nuclear industry (Finance) Act 1981

International Nuclear Information System (INIS)

1981-01-01

The purpose of the Act is to enable British Nuclear Fuels Limited to make borrowings backed by Government guarantees in order to finance its ten year investment programme. More specifically, the Act raises the financial limit applicable to British Nuclear Fuels Limited from pound 500 million to pound 1,000 million. (NEA) [fr

76 FR 76453 - Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940

Science.gov (United States)

2011-12-07

... of Investment Management, Office of Investment Company Regulation, 100 F Street NE., Washington, DC... liquidation were paid by Hatteras Capital Investment Management, LLC, investment adviser to the master fund in... held by its investment adviser, Hatteras Capital Investment Management, LLC (``Hatteras Capital...

17 CFR 239.17a - Form N-3, registration statement for separate accounts organized as management investment companies.

Science.gov (United States)

2010-04-01

... statement for separate accounts organized as management investment companies. 239.17a Section 239.17a... accounts organized as management investment companies. Form N-3 shall be used for registration under the... register under the Investment Company Act of 1940 as management investment companies, and certain other...

78 FR 23318 - Trust for Professional Managers and Aurora Investment Management L.L.C.; Notice of Application

Science.gov (United States)

2013-04-18

... subadvisory agreements (``Subadvisory Agreements'') with Chicago Fundamental Investment Partners, LLC, First... SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 30460; 812-14113] Trust for Professional Managers and Aurora Investment Management L.L.C.; Notice of Application April 12, 2013. AGENCY...

The procedure for granting concessions under the Concessions Act of Republika Srpska

Directory of Open Access Journals (Sweden)

Borojević Klaudia

2015-01-01

Full Text Available The Concessions Act of Republic of Srpska entered into force in 2002. By the adoption of this Act, consessions were exteacted from the Foreign Investments Act and given significantly more attention than in the former period. As legal practice imposed the need for frequent changes of this Act, the new Concessions Act of Republica Srpska was enacted on 15th July 2013. The current legal provisions on concessions in B&H have been modelled on the recognized international standards but they still do not provide sufficient guarantees to foreign investors willing to invest their capital in infrastructure projects in Bosnia and Hercegovina. The types of concessions are clearly defined but there are many other reasons influencing the investment of foreign capital and conclusion of a concession contract, the most prominent of which are the political climate and economic stability.

12 CFR 9.18 - Collective investment funds.

Science.gov (United States)

2010-01-01

... employee benefit accounts that are exempt from taxation, is registered under the Investment Company Act of... Retirement Accounts, Keogh Accounts, or other employee benefit accounts that are exempt from taxation, is... any loan on the security of a participant's interest in the fund. An unsecured advance to a fiduciary...

17 CFR 270.17g-1 - Bonding of officers and employees of registered management investment companies.

Science.gov (United States)

2010-04-01

... employees of registered management investment companies. 270.17g-1 Section 270.17g-1 Commodity and... ACT OF 1940 § 270.17g-1 Bonding of officers and employees of registered management investment companies. (a) Each registered management investment company shall provide and maintain a bond which shall...

Flexible ACT & Resource-group ACT: Different Working Procedures Which Can Supplement and Strengthen Each Other. A Response.

Science.gov (United States)

van Veldhuizen, Remmers; Delespaul, Philippe; Kroon, Hans; Mulder, Niels

2015-01-01

This article is a response to Nordén and Norlander's 'Absence of Positive Results for Flexible Assertive Community Treatment. What is the next approach?'[1], in which they assert that 'at present [there is] no evidence for Flexible ACT and… that RACT might be able to provide new impulses and new vitality to the treatment mode of ACT'. We question their analyses and conclusions. We clarify Flexible ACT, referring to the Flexible Assertive Community Treatment Manual (van Veldhuizen, 2013) [2] to rectify misconceptions. We discuss Nordén and Norlander's interpretation of research on Flexible ACT. The fact that too little research has been done and that there are insufficient positive results cannot serve as a reason to propagate RACT. However, the Resource Group method does provide inspiration for working with clients to involve their networks more effectively in Flexible ACT.

Investment Process in Territorial Government Sectors

Directory of Open Access Journals (Sweden)

Cleopatra Sendroiu

2006-10-01

Full Text Available The increase in the quality of the public administration act represents one of the major targets for the local authorities. From this point of view, the identification and implementation in the current practice of some methods, techniques and advanced working tools might have a significant impact.The investments’ programme as a tool accessible to local public authorities gains an increased legitimacy on the grounds of its civic consent; therefore, the external investors and other potential investors can take advantage of the community’s support in those projects they finance within region.The current framework of the investment activity in the local public sector is characterized by constraints within action, sometimes without continuity or precise targets. The declared urgency of a certain investment objective mostly turns out to be the selection and implementation criterion. In this present work there will be presented a few methods and ways in which town halls can realize public investments in the near future. The adoption of a specific proposal might lead to procedural and organizational modifications for the attainment of the maximum efficiency within the investment process.

75 FR 54197 - Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940

Science.gov (United States)

2010-09-03

..., SEC, Division of Investment Management, Office of Investment Company Regulation, 100 F Street, NE... reorganization were paid by Securities Management and Research, Inc., applicant's investment adviser, and CCM..., and Pioneer Investment Management, Inc., applicant's investment adviser. Filing Date: The application...

75 FR 47036 - Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940

Science.gov (United States)

2010-08-04

...) 551-6810, SEC, Division of Investment Management, Office of Investment Company Regulation, 100 F... connection with the liquidation were paid by Ironwood Investment Management, LLC, applicant's investment... liquidation were paid by Van Kampen Asset Management, applicant's investment adviser. Filing Dates: The...

75 FR 80865 - Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940

Science.gov (United States)

2010-12-23

..., SEC, Division of Investment Management, Office of Investment Company Regulation, 100 F Street, NE... Investment Counsel, LLC and Jacob Asset Management of New York, LLC, applicant's investment advisers. Filing... incurred in connection with the reorganization were paid by AFBA Investment Management Company, applicant's...

76 FR 25726 - Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940

Science.gov (United States)

2011-05-05

... Investment Management, Office of Investment Company Regulation, 100 F Street, NE., Washington, DC 20549-4041... Management Company of Pennsylvania, applicant's investment adviser, or its affiliates. Filing Dates: The... Pennsylvania and Federated Investment Management Company, the investment advisers to the surviving funds, or...

House price responsiveness of housing investments across major European economies

OpenAIRE

Gattini, Luca; Ganoulis, Ioannis

2012-01-01

In comparison with the large literature on house prices, housing investments have been studied far less. This paper investigates the behaviour of private residential investments for the six largest European economies, namely: Germany, France, Italy, Spain, the Netherlands and the United Kingdom. It employs a common modelling structure based on an error correction approach and country specific models. First, co-integration among the parsimoniously specified set of fundamental variables is dete...

The Investors- Reaction to Investment Rating Change Announcements

OpenAIRE

Chih-Hsiang Chang; Liang-Chien Lee; Shu-Ling Wu

2012-01-01

This study investigates the investors- behavioral reaction to the investment rating change announcements from the views of behavioral finance. The empirical results indicate that self-interest does affect the intention of securities firms to release investment ratings for individual stocks. In addition, behavioral pitfalls are also found in the response of retail investors to investment rating change announcements.

17 CFR 274.130 - Form N-Q, quarterly schedule of portfolio holdings of registered management investment company.

Science.gov (United States)

2010-04-01

... of portfolio holdings of registered management investment company. 274.130 Section 274.130 Commodity... INVESTMENT COMPANY ACT OF 1940 Forms for Reports § 274.130 Form N-Q, quarterly schedule of portfolio holdings of registered management investment company. This form shall be used by registered management...

75 FR 12584 - Sunshine Act; Public Hearing

Science.gov (United States)

2010-03-16

... OVERSEAS PRIVATE INVESTMENT CORPORATION Sunshine Act; Public Hearing March 17, 2010. OPIC's Sunshine Act notice of its Public Hearing in Conjunction with each Board meeting was published in the... provide testimony or submit written statements for the record; therefore, OPIC's public hearing scheduled...

75 FR 54661 - Sunshine Act-Public Hearing

Science.gov (United States)

2010-09-08

... OVERSEAS PRIVATE INVESTMENT CORPORATION Sunshine Act--Public Hearing OPIC's Sunshine Act notice of its Public Hearing in Conjunction with each Board meeting was published in the Federal Register... submit written statements for the record; therefore, OPIC's public hearing scheduled for 2 PM, September...

Investment opportunities in an increasingly competitive environment

International Nuclear Information System (INIS)

Webb, Martin

1999-01-01

Four topic areas are considered: (1) The global context for energy investments, (2) Strategic investments in the gas chain, (3) Conventional and changing approaches to investing in gas and power, (4) New areas of opportunity. The presentation considers the challenging global context for investments and the current oil price outlook and more specifically the backdrop to the growth in demand for gas and its increasing availability and the implications of factors such as energy market liberalization. It notes the regional nature of gas and power markets and considers the issue of stranded supply and demand. It identifies an increasing trend towards investments up and down the gas chain by both traditional and new players and explores BP Amoco's own corporate response. The presentation then briefly reviews four major gas investments which BP Amoco has either already taken or is considering. It then discusses investments in gas to power and the growing environmental agenda, which is bringing a range of new and non-traditional investment opportunities

Investment opportunities in an increasingly competitive environment

Energy Technology Data Exchange (ETDEWEB)

Webb, Martin

1999-07-01

Four topic areas are considered: (1) The global context for energy investments, (2) Strategic investments in the gas chain, (3) Conventional and changing approaches to investing in gas and power, (4) New areas of opportunity. The presentation considers the challenging global context for investments and the current oil price outlook and more specifically the backdrop to the growth in demand for gas and its increasing availability and the implications of factors such as energy market liberalization. It notes the regional nature of gas and power markets and considers the issue of stranded supply and demand. It identifies an increasing trend towards investments up and down the gas chain by both traditional and new players and explores BP Amoco's own corporate response. The presentation then briefly reviews four major gas investments which BP Amoco has either already taken or is considering. It then discusses investments in gas to power and the growing environmental agenda, which is bringing a range of new and non-traditional investment opportunities.

Sovereign wealth funds: Investment objectives and asset allocation strategies

Directory of Open Access Journals (Sweden)

Daniil Wagner

2014-05-01

Full Text Available Sovereign Wealth Funds (SWFs have steadily increased their importance in the global financial system in the last decade and especially during the financial crisis period. Although the objectives and investment strategies of SWFs are quite diverse, I propose to sort them into three main groups, depending on their sponsor countries’ endowment with resources and investment objectives. I present case studies and empirical analyses that reflect SWF investment activities and try to elaborate on the special role of each SWF group. Special emphasis is given to the recent financial crisis, where SWFs also acted as bailout investors by injecting substantial capital into global financial institutions, filling a financing gap that other institutional investors could not close

What is new in the Act on Nuclear Safety

International Nuclear Information System (INIS)

Novosel, N.

2005-01-01

The Act on Nuclear Safety was passed by the Croatian Parliament on 15 October 2003, and published in Narodne novine (official journal) No. 173/03. This Act regulates safety measures for using nuclear materials and equipment, regulates nuclear activities, and establishes the National Office for Nuclear Safety. The new act supersedes the Act on Protective Measures Against Ionising Radiation and Safety in the Use of Nuclear Facilities and Installations (Narodne novine No. 18/81) and the Act on Protection against Ionising Radiation and Special Safety Measures in Using Nuclear Energy (Narodne novine No. 53/91). Regulations based on the latter Act shall apply until they are replaced by new regulations based on the Act on Nuclear Safety. Provisions of this Act apply for nuclear activities, nuclear materials and specified equipment. Croatia does not have nuclear facilities on its territory, but a Croatian power utility company owns 50% of the Nuclear Power Plant Krsko on the territory of Slovenia. In that respect, Croatia has assumed responsibilities defined by the Agreement between the Government of the Republic of Slovenia and the Government of the Republic of Croatia on the Regulation of the Status and Other Legal Relationships, Connected with Investments in the Krsko Nuclear Power Plant, its Exploitation and Decommissioning (Narodne novine No. 9/02, International Agreements). Having accessioned international conventions and agreements, Croatia has also assumed the responsibility to implement their provisions. In the process of European and international integrations, Croatia has to harmonize with the European and international standards in nuclear safety.(author)

Public Investment, Revenue Shocks, and Borrowing Restrictions

OpenAIRE

Büttner, Thiess; Wildasin, David E.

2010-01-01

This paper lays out a theory of taxation and public investment in an intertemporal setting under conditions of revenue shocks. Without borrowing restrictions, the optimal policy is characterized by smooth time paths of taxes and public investment. While the introduction of formal borrowing restrictions leads to some precautionary savings, it gives rise to fluctuations in public investment in response to adverse but also favorable revenue shocks. This theoretical result is tested empirically u...

77 FR 825 - Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940

Science.gov (United States)

2012-01-06

... of Investment Management, Office of Investment Company Regulation, 100 F Street NE., Washington, DC... Investment Management, LLC, applicant's investment adviser. Filing Dates: The application was filed on... by Robeco [[Page 826

Age-dependent male mating investment in Drosophila pseudoobscura.

Directory of Open Access Journals (Sweden)

Sumit Dhole

Full Text Available Male mating investment can strongly influence fitness gained from a mating. Yet, male mating investment often changes with age. Life history theory predicts that mating investment should increase with age, and males should become less discriminatory about their mate as they age. Understanding age-dependent changes in male behavior and their effects on fitness is important for understanding how selection acts in age-structured populations. Although the independent effects of male or female age have been studied in many species, how these interact to influence male mating investment and fitness is less well understood. We mated Drosophila pseudoobscura males of five different age classes (4-, 8-, 11-, 15-, 19-day old to either young (4-day or old (11-day females, and measured copulation duration and early post-mating fecundity. Along with their independent effects, we found a strong interaction between the effects of male and female ages on male mating investment and fitness from individual matings. Male mating investment increased with male age, but this increase was more prominent in matings with young females. Male D. pseudoobscura made smaller investments when mating with old females. The level of such discrimination based on female age, however, also changed with male age. Intermediate aged males were most discriminatory, while the youngest and the oldest males did not discriminate between females of different ages. We also found that larger male mating investments resulted in higher fitness payoffs. Our results show that male and female ages interact to form a complex pattern of age-specific male mating investment and fitness.

17 CFR 239.14 - Form N-2 for closed end management investment companies registered on Form N-8A.

Science.gov (United States)

2010-04-01

... management investment companies registered on Form N-8A. 239.14 Section 239.14 Commodity and Securities... Registration Statements § 239.14 Form N-2 for closed end management investment companies registered on Form N... closed end management investment companies registered under the Investment Company Act of 1940 on form N...

Legal financial institutions in the Water Law Act

Directory of Open Access Journals (Sweden)

Andrzej Borodo

2015-12-01

Full Text Available Some fees and payments are connected with obligatory participation in the cost of public projects and public investment. In the framework of the Water Law Act there are diverse public payments and fees. In this law there is the drainage fee and the investment fee. There are also contributions and other payments to the water companies. In the regulations of the Water Law Act there are also legal financial solutions for sharing the public costs, the use of budget subsidies, fixing and allocation of public expenditure.

76 FR 66135 - Investment Advice-Participants and Beneficiaries

Science.gov (United States)

2011-10-25

... theories that take into account historic returns of different asset classes over defined periods of time, but also notes that generally accepted investment theories that take into account additional... payor intends to act as an incentive, whereas the statutory provision appears to address receipt of any...

20 CFR 401.30 - Privacy Act and other responsibilities.

Science.gov (United States)

2010-04-01

... information privacy issues, including those relating to the collection, use, sharing, and disclosure of... 20 Employees' Benefits 2 2010-04-01 2010-04-01 false Privacy Act and other responsibilities. 401.30 Section 401.30 Employees' Benefits SOCIAL SECURITY ADMINISTRATION PRIVACY AND DISCLOSURE OF...

17 CFR 249.325 - Form 13F, report of institutional investment manager pursuant to section 13(f) of the Securities...

Science.gov (United States)

2010-04-01

... institutional investment manager pursuant to section 13(f) of the Securities Exchange Act of 1934. 249.325... manager pursuant to section 13(f) of the Securities Exchange Act of 1934. This form shall be used by institutional investment managers which are required to furnish reports pursuant to section 13(f) of the...

Study On The Multi-Project Management Practices for Complex Investments

Directory of Open Access Journals (Sweden)

Mircea Sandru

2015-11-01

Full Text Available This paper highlights the results of a study carried out during the doctoral research in case of multi project Engineering, Procurement, Construction, Commissioning (EPCC investment types. The objective of this study was to improve the project portfolio management. The methodology used in the research presented in this paper is focused on the analysis of the authors related to the approaches debated in literature and theirs applicability in EPCC type investment programs. In this sense were analyzed 11 international projects in petrochemical and refinery field and also 7 investments in other different areas of chemical industry. The research highlighted that the management process of these investments can be improved trough the correct project integration, being able to provide a performing working environment able to sustain the management team in identifying the investment program criticalities and congestion points in order to be able to manage them in an efficient manner in order to assure the reach of the investment goal. Having as consequence the possibility to significant reduction of execution period, up to 16% and in the mean time also the delays related risks through a more efficient investment managerial act.

77 FR 62596 - Allowing New Investment in Burma

Science.gov (United States)

2012-10-15

...) (the ``Act''), which authorizes and directs the President to prohibit U.S. persons from making new... President made the required determinations and certifications and imposed a prohibition on new investment in... human rights, corruption, and the role of the military in the Burmese economy, it believes that the...

The interactive effects of multiple stressors on physiological stress responses and club cell investment in fathead minnows

International Nuclear Information System (INIS)

Manek, Aditya K.; Ferrari, Maud C.O.; Niyogi, Som; Chivers, Douglas P.

2014-01-01

Anthropogenic activities have dramatically increased over the past decades, with the consequence that many organisms are simultaneously exposed to multiple stressors. Understanding how organisms respond to these stressors is a key focus for scientists from many disciplines. Here we investigated the interactive effects of two stressors, UV radiation (UVR) and cadmium (Cd) exposure on a common freshwater fish, fathead minnow (Pimephales promelas). UVR is known to influence the density of epidermal club cells (ECCs), which are not only a key component of the innate immune system of fishes, but are also the source of chemical alarm cues that serve to warn other fishes of nearby predators. In contrast, Cd impairs the physiological stress response and ability of fish to respond to alarm cues. We used an integrative approach to examine physiological stress response as well as investment in ECCs. Fish exposed to UVR had higher levels of cortisol than non-exposed controls, but Cd reduced cortisol levels substantially for fish exposed to UVR. Fish exposed to UVR, either in the presence or absence of Cd, showed consistent decreases in ECC investment compared to non-exposed controls. Despite differences in ECC number, there was no difference in the potency of alarm cues prepared from the skin of UVR and Cd exposed or non-exposed fish indicating that UVR and Cd exposure combined may have little influence on chemically-mediated predator–prey interactions. - Highlights: • UV radiation caused a physiological stress response (cortisol release) in fish. • Cd reduced cortisol levels substantially for fish exposed to UV. • Fish exposed to UV, with or without Cd, showed decreases in club cell investment. • There was no difference in alarm cues potency from UV and Cd exposed fish. • Our work highlights the difficulty of untangling effects of multiple stressors

The interactive effects of multiple stressors on physiological stress responses and club cell investment in fathead minnows

Energy Technology Data Exchange (ETDEWEB)

Manek, Aditya K., E-mail: aditya.manek@usask.ca [Department of Biology, University of Saskatchewan, Saskatoon, S7N 5E2 SK (Canada); Ferrari, Maud C.O. [Department of Biomedical Sciences, WCVM, University of Saskatchewan, Saskatoon, SK S7N 5B4 (Canada); Niyogi, Som; Chivers, Douglas P. [Department of Biology, University of Saskatchewan, Saskatoon, S7N 5E2 SK (Canada)

2014-04-01

Anthropogenic activities have dramatically increased over the past decades, with the consequence that many organisms are simultaneously exposed to multiple stressors. Understanding how organisms respond to these stressors is a key focus for scientists from many disciplines. Here we investigated the interactive effects of two stressors, UV radiation (UVR) and cadmium (Cd) exposure on a common freshwater fish, fathead minnow (Pimephales promelas). UVR is known to influence the density of epidermal club cells (ECCs), which are not only a key component of the innate immune system of fishes, but are also the source of chemical alarm cues that serve to warn other fishes of nearby predators. In contrast, Cd impairs the physiological stress response and ability of fish to respond to alarm cues. We used an integrative approach to examine physiological stress response as well as investment in ECCs. Fish exposed to UVR had higher levels of cortisol than non-exposed controls, but Cd reduced cortisol levels substantially for fish exposed to UVR. Fish exposed to UVR, either in the presence or absence of Cd, showed consistent decreases in ECC investment compared to non-exposed controls. Despite differences in ECC number, there was no difference in the potency of alarm cues prepared from the skin of UVR and Cd exposed or non-exposed fish indicating that UVR and Cd exposure combined may have little influence on chemically-mediated predator–prey interactions. - Highlights: • UV radiation caused a physiological stress response (cortisol release) in fish. • Cd reduced cortisol levels substantially for fish exposed to UV. • Fish exposed to UV, with or without Cd, showed decreases in club cell investment. • There was no difference in alarm cues potency from UV and Cd exposed fish. • Our work highlights the difficulty of untangling effects of multiple stressors.

78 FR 42122 - Bridge Builder Trust and Olive Street Investment Advisers, LLC; Notice of Application

Science.gov (United States)

2013-07-15

... SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 30592; 812-14118] Bridge...: Bridge Builder Trust (the ``Trust'') and Olive Street Investment Advisers (the ``Adviser'') (collectively... the requested order as a Fund is the Bridge Builder Bond Fund. For purposes of the requested order...

Legitimacy and Reflexivity in International Investment Arbitration: A New Self-Restraint?

Directory of Open Access Journals (Sweden)

David Schneiderman

2011-05-01

Full Text Available There are at least two views within investment arbitration about how to respond to legitimation problems associated with inconsistent rulings, latitudinal interpretations, and arbitral bias and conflicts of interest. Some prefer to keep the regime on course and not respond to these outside perturbations. Others prefer to take into account external influences, such as human rights and environmental commitments, in the course of investment treaty interpretation. Both understand that, whatever the response, these questions will be determined by lawyers, scholars, and arbitrators operating within the system of international investment law and not by actors operating outside of it. Both views, in other words, are congenial to systems-theoretic accounts. As articulated by Teubner, there is a proliferation of functional legal sub-systems, developing autonomously of states, each of which, in the course of maximizing internal rationality, potentially is on a collision course with other operative sub-systems. These can only be forestalled if sub-systems act reflexively by devising strategies of self-limitation that selectively internalize objections emanating from external spheres. As this maps on to self-understandings of actors operating within investment arbitration, this paper takes up systems theory as a heuristic for assessing the regime’s responsiveness to outside influences. In order to take stock of the degree of reflexivity, the paper examines the direction investment law is taking in a few key areas: first, in the shift in emphasis away from expropriations (the ‘takings rule’ to the fair and equitable treatment standard, which is performing similar functions; second, in the attempt to merge global standards by embracing World Trade Organization Appellate Body decision making; and third, the hesitant embrace of proportionality doctrine as a means of weighing public interests into the equation. These moments of reflexivity turn out to be

Power generation investment in electricity markets

International Nuclear Information System (INIS)

2003-01-01

Most IEA countries are liberalizing their electricity markets, shifting the responsibility for financing new investment in power generation to private investors. No longer able to automatically pass on costs to consumers, and with future prices of electricity uncertain, investors face a much riskier environment for investment in electricity infrastructure. This report looks at how investors have responded to the need to internalize investment risk in power generation. While capital and total costs remain the parameters shaping investment choices, the value of technologies which can be installed quickly and operated flexibly is increasingly appreciated. Investors are also managing risk by greater use of contracting, by acquiring retail businesses, and through mergers with natural gas suppliers. While liberalization was supposed to limit government intervention in the electricity market, volatile electricity prices have put pressure on governments to intervene and limit such prices. This study looks at several cases of volatile prices in IEA countries' electricity markets, and finds that while market prices can be a sufficient incentive for new investment in peak capacity, government intervention into the market to limit prices may undermine such investment

Using of CBA Method for Evaluation of the Investments in the Link with Social Responsible Business

Science.gov (United States)

Mrvová, Ľubica; Vaňová, Jaromíra

2012-12-01

The paper presents knowledge from the area of economic efficiency assessment of the environmental investments, in the link with environmental management with context of social responsible business and their mutual connection, on the base of CBA method. CBA method creates basis for the software CBA1.1, which was created for the needs of business practise for the small and medium enterprises in the Slovak Republic.

Optimal Investment Planning of Bulk Energy Storage Systems

Directory of Open Access Journals (Sweden)

Dina Khastieva

2018-02-01

Full Text Available Many countries have the ambition to increase the share of renewable sources in electricity generation. However, continuously varying renewable sources, such as wind power or solar energy, require that the power system can manage the variability and uncertainty of the power generation. One solution to increase flexibility of the system is to use various forms of energy storage, which can provide flexibility to the system at different time ranges and smooth the effect of variability of the renewable generation. In this paper, we investigate three questions connected to investment planning of energy storage systems. First, how the existing flexibility in the system will affect the need for energy storage investments. Second, how presence of energy storage will affect renewable generation expansion and affect electricity prices. Third, who should be responsible for energy storage investments planning. This paper proposes to assess these questions through two different mathematical models. The first model is designed for centralized investment planning and the second model deals with a decentralized investment approach where a single independent profit maximizing utility is responsible for energy storage investments. The models have been applied in various case studies with different generation mixes and flexibility levels. The results show that energy storage system is beneficial for power system operation. However, additional regulation should be considered to achieve optimal investment and allocation of energy storage.

The Corporations Act 2001

OpenAIRE

Bostock, Tom

2002-01-01

The author outlines reforms made in Australia in the area of company law with an analysis of the Corporations Act 2001, which along with the Australian Securities and Investments Commission Act 2001 comprises Corporations legislation in Australia. Article by Tom Bostock (a partner in the law firm Mallesons Stephen Jaques, Melbourne, Australia). Published in Amicus Curiae - Journal of the Institute of Advanced Legal Studies and its Society for Advanced Legal Studies. The Journal is produced by...

Overseas Investments by Chinese National Oil Companies

Energy Technology Data Exchange (ETDEWEB)

NONE

2011-07-01

This report examines inaccuracies in some commonly held views of China's National Oil Companies (NOCs). Until now, there has been little analysis to test the widely held presumption that these companies act under the instructions and in close co-ordination with the Chinese government. Nor have critics been challenged on the validity of their concerns about investments made by these NOCs, and how they could be blocking supplies of oil for other importing countries. The IEA analysis, however, finds that contrary to these views, the NOCs actually operate with a high degree of independence from the Chinese government, and their investments have in fact largely boosted global supplies of oil and gas, which other importers rely on.

Flexible ACT & Resource-group ACT: Different Working Procedures Which Can Supplement and Strengthen Each Other. A Response#

Science.gov (United States)

van Veldhuizen, Remmers; Delespaul, Philippe; Kroon, Hans; Mulder, Niels

2015-01-01

This article is a response to Nordén and Norlander’s ‘Absence of Positive Results for Flexible Assertive Community Treatment. What is the next approach?’[1], in which they assert that ‘at present [there is] no evidence for Flexible ACT and… that RACT might be able to provide new impulses and new vitality to the treatment mode of ACT’. We question their analyses and conclusions. We clarify Flexible ACT, referring to the Flexible Assertive Community Treatment Manual (van Veldhuizen, 2013) [2] to rectify misconceptions. We discuss Nordén and Norlander’s interpretation of research on Flexible ACT. The fact that too little research has been done and that there are insufficient positive results cannot serve as a reason to propagate RACT. However, the Resource Group method does provide inspiration for working with clients to involve their networks more effectively in Flexible ACT. PMID:25767558

Renewable Energy Investment in Emerging Markets: Evaluating Improvements to the Clean Development Mechanism

Directory of Open Access Journals (Sweden)

Amy Tang

2014-06-01

Full Text Available In the past, industrialized countries have invested in or financed numerous renewable energy projects in developing countries, primarily through the Clean Development Mechanism (CDM of the Kyoto Protocol. However, critics have pointed to its bureaucratic structure, problems with additionality and distorted credit prices as ill-equipped to streamline renewable energy investment. In this paper, we simulate the impact of policy on investment decisions on whether or not to invest in wind energy infrastructure in India, Brazil and China. Data from 2,578 past projects as well as literature on investor behaviour is used to inform the model structure and parameters. Our results show that the CDM acts differently in each country and reveal that while streamlining the approval process and reconsidering additionality can lead to non-trivial increase in total investment, stabilizing policy and decreasing investment risk will do the most to spur investment.

Sustainable Markets Investment Briefings: Investment Treaties

Energy Technology Data Exchange (ETDEWEB)

Cotula, Lorenzo

2007-08-15

This is the second of a series of briefings which discuss the sustainable development issues raised by legal arrangements for the protection of foreign investment. The briefings are based on legal research by IIED and its partners. The goal is to provide accessible but accurate information for human rights, development and environmental organisations working on issues raised by foreign investment in low- and middle-income countries. Briefing 2 explains how investment treaties between states work to protect and promote foreign investment.

Investment in body image for self-definition results in greater vulnerability to the thin media than does investment in appearance management.

Science.gov (United States)

Ip, Karen; Jarry, Josée L

2008-03-01

This study investigated the effect of thin images according to two dimensions of body-image (BI) investment. Ninety-five females were classified as high or low investors based on the Appearance Schemas Inventory-Revised Self-Evaluative Salience (SES) and Motivational Salience (MS) subscales. Participants viewed advertisements portraying either the thin ideal or products. Results indicated that both women high in SES and MS reported lowered appearance self-esteem but greater BI importance following thin exposures. However, only the high SES group reported greater BI dissatisfaction and importance of current-ideal discrepancies after seeing thin images. Although highly invested women (regardless of their motivation for investment) are more responsive to thin media images than are women low in investment, those invested for self-definition are affected on more dimensions than are those invested for appearance management.

Investment innovation trends: Factor-based investing

Directory of Open Access Journals (Sweden)

Sanja Centineo

2017-05-01

Full Text Available This article shows that it can take a long period of time until research knowledge finds its application in practice and get disseminated as innovation trend. Factor-based investing is such an example. Having its developing roots in the nineties, it took more than two decades until this approach was detected by the by investment community. The goal of this article is to recall the definition of factor investing, present its historical evolvement and motivate its recent break-through and current trend among investment practitioners (known also under the notion smart beta. It aims at familiarizing with this investment approach from a practical perspective and highlighting its diversifying benefits in a portfolio context with the potential to outperform the market on risk-adjusted basis.

Sovereign Wealth Funds and Socially Responsible Investing: Do’s and Don’ts

NARCIS (Netherlands)

Zee, van der E.L.

2012-01-01

A sovereign wealth fund (SWF) is a long-term investment fund owned by the state. The oldest is the Kuwait Investment Corporation, which was established in 1953. However, because most SWFs were established in 2004 or later, SWFs are, generally speaking, a fairly new phenomenon. Depending on the

Investing for Impact: The Global Fund Approach to Measurement of AIDS Response.

Science.gov (United States)

Jain, Suman; Zorzi, Nathalie

2017-07-01

The Global Fund raises and invests nearly US$4 billion a year to support programs run in more than 140 countries. The Global Fund strategy 2012-2016 is focused on "Investing for Impact". In order to accomplish this, timely and accurate data are needed to inform strategies and prioritize activities to achieve greater coverage with quality services. Monitoring and evaluation is intrinsic to the Global Fund's system of performance-based funding. The Global Fund invests in strengthening measurement and reporting of results at all stages of the grant cycle. The Global Fund approach to measurement is based on three key principles-(1) simplified reporting: the Global Fund has updated its measurement guidance to focus on impact, coverage and quality with the use of a harmonized set of indicators. (2) Supporting data systems-based on a common framework developed and supported by partners, it promotes investment in five common data systems: routine reporting including HMIS; Surveys-population based and risk group surveys; Analysis, reviews and transparency; Administrative and financial data sources; and, Vital registration systems. (3) Strengthen data use: the Global Fund funding encourages use of data at all levels-national, subnational and site level. Countries do not automatically prioritize M&E but when guidance, tools and investments are available, there is high level utilization of M&E systems in program design, planning, implementation, and results reporting. An in-depth analysis of the available data helps the Global Fund and countries to direct investments towards interventions where impact could be achieved and focus on target population groups and geographic areas that are most affected.

17 CFR 230.487 - Effectiveness of registration statements filed by certain unit investment trusts.

Science.gov (United States)

2010-04-01

... Investment Companies; Business Development Companies § 230.487 Effectiveness of registration statements filed... Company Act of 1940 that files a registration statement pursuant to the Act in connection with the..., may designate a date and time for such registration statement to become effective. If the registrant...

How do Companies Invest in Corporate Social Responsibility? An Ordonomic Contribution for Empirical CSR Research

Directory of Open Access Journals (Sweden)

Matthias Georg Will

2014-07-01

Full Text Available This paper takes both a conceptual and an empirical approach to answer the question as to how Corporate Social Responsibility (CSR can be connected to the company’s role as an agent of social value creation when it operates within an imperfect institutional framework of market competition. To develop a functional design for an empirical study, we draw on the concept of ordonomics, which provides a heuristics for responsible business activities in society. Drawing on ordonomics, we devise three questions: Referring to action responsibility we ask in which CSR activities companies do invest in their day-to-day business. Referring to governance responsibility we ask as to how companies realize win-win solutions through strategic commitments. In addition, with regard to discourse responsibility we ask in which stakeholder dialogues companies engage in order to discuss and find functional rules for organizing win-win solutions. In our empirical study, we reveal insights into the micro-level analysis of the CSP-CFP link and generate several new questions to be the subject of future research.

17 CFR 270.6c-10 - Exemption for certain open-end management investment companies to impose deferred sales loads.

Science.gov (United States)

2010-04-01

... management investment companies to impose deferred sales loads. 270.6c-10 Section 270.6c-10 Commodity and... ACT OF 1940 § 270.6c-10 Exemption for certain open-end management investment companies to impose... purposes of this section: (1) Company means a registered open-end management investment company, other than...

Globalisation, Trade Openness and Foreign Direct Investment in Romania

Directory of Open Access Journals (Sweden)

Dima Stela

2016-11-01

Full Text Available The paper analyses the trend of globalisation, trade openness and foreign direct investments (FDI in Romania and the link between them in the last 25 years. Data from UNCTAD, World Bank and KOF globalisation index were used in econometrical models testing the link between globalisation, trade openness and foreign direct investment. A strong positive and statistical validated link is found between globalisation and FDI, between trade openness and FDI, and between FDI and globalisation. In the context of Romanian economy, these three phenomena are interrelated and each of them is acting to potentiate the effect of the other. Moreover, a multivariate regression analysis emphasized the dependency between globalisation index and foreign direct investment, trade openness and market capitalisation. These results can be taken into account when national policies aiming to attract FDI and stimulating export-import activities are designed.

20 CFR 670.440 - What are the responsibilities of outreach and admissions agencies?

Science.gov (United States)

2010-04-01

... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false What are the responsibilities of outreach and admissions agencies? 670.440 Section 670.440 Employees' Benefits EMPLOYMENT AND TRAINING ADMINISTRATION, DEPARTMENT OF LABOR THE JOB CORPS UNDER TITLE I OF THE WORKFORCE INVESTMENT ACT Recruitment, Eligibility...

17 CFR 200.20b - Director of Division of Investment Management.

Science.gov (United States)

2010-04-01

... Investment Management. 200.20b Section 200.20b Commodity and Securities Exchanges SECURITIES AND EXCHANGE... General Organization § 200.20b Director of Division of Investment Management. The Director of the Division of Investment Management is responsible to the Commission for the administration of the Commission's...

Investment shocks and the relative price of investment

OpenAIRE

Justiniano, Alejandro; Primiceri, Giorgio E.; Tambalotti, Andrea

2009-01-01

We estimate a New-Neoclassical Synthesis model of the business cycle with two investment shocks. The first, an investment-specific technology shock, affects the transformation of consumption into investment goods and is identified with the relative price of investment. The second shock affects the production of installed capital from investment goods or, more broadly, the transformation of savings into future capital input. We find that this shock is the most important driver of U.S. business...

GENERAL MEETING OF OWNERS OF INVESTMENT SHARES: ORGANIZATIONAL ASPECTS

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Olga A. Zhdanova

2014-01-01

Full Text Available General meeting of owners of the investment shares, possessing large powersof strategic character, needs continuous development of the substantial and organizational parties, with the subsequent entering of corresponding changes into acts.In article some organizational aspects ofcarrying out general meeting and possibility of their improvement are considered.

20 CFR 661.220 - What are the requirements for the submission of the State Workforce Investment Plan?

Science.gov (United States)

2010-04-01

... TRAINING ADMINISTRATION, DEPARTMENT OF LABOR STATEWIDE AND LOCAL GOVERNANCE OF THE WORKFORCE INVESTMENT SYSTEM UNDER TITLE I OF THE WORKFORCE INVESTMENT ACT State Governance Provisions § 661.220 What are the... incomplete, or which does not contain sufficient information to determine whether it is consistent with the...

Belief and Investing: Preferences and Attitudes of the Faithful

Directory of Open Access Journals (Sweden)

Mark Brimble1

2013-03-01

Full Text Available This Australian study seeks to better understand the disparity between the positive attitudes towards Socially Responsible Investing (SRI and the level of investment in SRI (Saulwick &Associates 2001; Watmore & Bradley 2001; Williams 2007; Arjalies 2010, by examining both the attitudes to SRI and the investment choices that are made. It is hypothesised that those who are more committed to religious belief principles are more likely to invest in SRI.To test this 322 people from two large Queensland organisations were surveyed in relation to their investment attitudes and preferences. Results show that those who are more religious are no more likely to invest in SRI, and that the level of importance placed on SRI and financial criteria are similar in most instances for the more and less religious. In addition, women who are religious place more importance on conservative general investment criteria than less ornon-religious women.

Japanese investment in Peru: limits of developmental investment

OpenAIRE

Kamiya, Marco

2004-01-01

Japanese Investment in Latin America was considerable in the 1960s and 1970s, but the investment never took off in the developmental style as in East Asia. The author examines why Japanese Foreign Direct Investment in Peru did not follow the pattern of developmental investment, analyzing the elements involved regarding policies in Peru and particular circumstances in Japan in the 1990 decade.

Investment Guarantees in the South African Life Insurance Industry ...

African Journals Online (AJOL)

This paper explores the risks faced by South African life insurance companies arising from the provision of investment guarantees in products sold. The current thinking and practice of the larger South African life insurance companies regarding investment guarantees is set out following their responses to a survey.

The Illegal Immigration Reform and Immigrant Responsibility Act of 1996: an overview.

Science.gov (United States)

Fragomen, A T

1997-01-01

"On September 30, 1996, President Clinton signed the Illegal Immigration Reform and Immigrant Responsibility Act of 1996 (1996 Act), Pub. L. No. 104-208, 110 Stat. 3009. After an intense lobbying effort by the business community, most provisions relating to legal immigration were omitted from the final bill. Instead, the 1996 Act focuses on illegal immigration reform and includes some of the toughest measures ever taken against illegal immigration." Aspects considered include border enforcement, penalities against alien smuggling and document fraud, deportation and exclusion proceedings, employer sanctions, welfare provisions, and changes to existing refugee and asylum procedures. excerpt

Relating corporate social investment with financial performance

OpenAIRE

Kgabo L. Kobo; Collins C. Ngwakwe

2017-01-01

Previous researchers have found conflicting results between CSI and firm financial performance. This paper moves this debate further by examining the extent to which corporate social investment (CSI) relates with corporate financial performance (CFP) from a developing country perspective. The main aim of the paper was to determine the relationship between CSI, stock price, sales turnover and return on equity (ROE) amongst the socially responsible investing (SRI) companies in the Johannesburg ...

Investment Strategy and Efficiency of Investment Activity of European Insurers

Directory of Open Access Journals (Sweden)

Zhabynets Olga Yo.

2014-02-01

Full Text Available The article studies investment strategy and efficiency of investment activity of European insurance companies. In particular, it analyses the share of investments of insurance companies of Europe in GDP, investment portfolio of European insurers and its structure, contribution of insurance companies – leaders of investment activity – into the European investment portfolio. It studies influence of the financial crisis upon investment strategy of European insurers and analyses efficiency of investment activity of European insurers in risk insurance and life insurance. The article proves that investment business models of insurance companies are capable of resisting crisis phenomena more efficiently than other financial institutions. It marks out that measures of insurance companies that are directed at increase of profitability of investments require from them both significant expenditures on creation of the system of investment risk management and open access to different categories of financial assets and markets, which influences the general risk level, taken upon by an insurance company. The author draws a conclusion that, taking into account recent developments, European insurers should focus on equity and investment risk management, finding new possibilities for their (investments growth and also adaptation of new systems and operations for solution of these important tasks.

FOREIGN DIRECT INVESTMENTS DURING FINANCIAL CRISES

Directory of Open Access Journals (Sweden)

VINTILA DENISIA MARIANA

2011-12-01

Full Text Available The fundamental idea of International capital flows is that short-term flows can be easily reversed, while flows on a longer time horizon are more stable. Crises are associated with withdrawals of short-term capital flows and growth of the foreign direct investment flows. The current crisis has meant a major decline of international capital flows, also of the foreign direct investment. The analysis in this article tries to establish if and under which conditions foreign direct investments can bring greater stability during the crisis, comparing the evolution of foreign direct investments in the current crisis with their response in previous crises. We show that during previous crises foreign direct investments were stable, behaving differently from other types of capital. Yet, during the current crisis, foreign direct investments have proven to be not so stable and all the components declined, raising questions about the resumption of the positive trend. The stability of foreign direct investments in the past was given by the increase of mergers and acquisitions during the crisis, reflecting fire-sale FDI. This feature is not found in the current crisis as mergers and acquisitions were severe affected by the crises and recorded a major decline. The current paper is realized in the doctoral program entitled PhD in economics at the standards of European knowledge- DoEsEc, scientific coordinator Prof. PhD Rodica Zaharia, institution The Academy of Economic Studies Bucharest, Faculty of International Business, period of research 2009-2012.

A model based on Copula Theory for sustainable and social responsible investments

Directory of Open Access Journals (Sweden)

Amelia Bilbao-Terol

2016-01-01

Full Text Available In this paper, a model is proposed that allows us to obtain a portfolio made up of sustainable and socially responsible (SR investment funds. This portfolio tracks the one that investors might have chosen if they had not taken into account social, ethical and ecological (SEE issues in their investment decisions. Therefore, in the first stage, reference portfolio exclusively made up of conventional funds is obtained. For the construction of the conventional portfolio the Prospect Theory has been used: net profits as the financial objective and error function as the utility function. In the second stage, a portfolio consisting exclusively of SR-funds is built. To do so, the reference portfolio is used as an ideal point, with the objectives of the SR-investor being the relative wealth with respect to the reference portfolio and the SEE quality of the portfolio. The relative wealth will be manipulated by a downside-risk measure, the Conditional Value at Risk (CVaR, and the periodic values of the portfolio. The second objective is the SR Quality of the portfolio, taking into account the personal values of a particular investor. This is built using Fuzzy Set Theory tools. We are faced with a multi-objective problem which is solved by using Goal Programming methodology. The estimation of both conventional and SR markets has been carried out by a semi-parametric approach by using the Copula Theory for modeling the dependence structure of the assets’ returns. The approach has been applied to a set of 38 conventional and 12 ethical funds domiciled in Spain.

78 FR 14848 - Duties of Brokers, Dealers, and Investment Advisers

Science.gov (United States)

2013-03-07

... of 1940 (``Advisers Act'') is largely principles-based. In contrast, a broker-dealer is not uniformly... interest\\21\\ and disclosure practices of investment advisers and broker-dealers, as well as the economics... Parts III and IV below, we request data and other information relating to the economics and...

Flexible ACT & Resource-group ACT : Different Working Procedures Which Can Supplement and Strengthen Each Other. A Response

NARCIS (Netherlands)

van Veldhuizen, Remmers; Delespaul, Philippe; Kroon, Hans; Mulder, Niels

2015-01-01

This article is a response to Nordén and Norlander's 'Absence of Positive Results for Flexible Assertive Community Treatment. What is the next approach?'[1], in which they assert that 'at present [there is] no evidence for Flexible ACT and… that RACT might be able to provide new impulses and new

Directors’ board, R&D investment and firm’s performance: Evidence from France

Directory of Open Access Journals (Sweden)

Zouari Ghazi

2015-04-01

Full Text Available This research examines the relationship between the board of directors and firm’s performance through the R&D investment-level in the French context from perspectives of corporate governance. Our model seeks to identify if the R&D investment-level acts as a mediating variable between, on the one hand, the dominance of outside directors, the dual structure and the board size, and secondly, the performance. The empirical study is based on a sample of 178 French firms for the period 2008-2012. The results of the linear regressions conducted show that the relationship between boards composition linked variables and the firm performance are meditated by the firm R&D investment-level.

25 CFR 224.40 - How does the Act or a TERA affect the Secretary's trust responsibility?

Science.gov (United States)

2010-04-01

... or other Federal law. (c) The Act and this part preserve the Secretary's trust responsibility to... 25 Indians 1 2010-04-01 2010-04-01 false How does the Act or a TERA affect the Secretary's trust... DETERMINATION ACT General Provisions § 224.40 How does the Act or a TERA affect the Secretary's trust...

Offshore wind investments – Realism about cost developments is necessary

International Nuclear Information System (INIS)

Schwanitz, Valeria Jana; Wierling, August

2016-01-01

Data available from the recent boom in European offshore wind investments contradict widely held expectations about a decline in costs per kW. Our review shows that scenario projections for investment costs are systematically flawed by over-optimistic assumptions. Contrasting offshore wind technology with onshore wind and nuclear power, we argue that offshore wind could be a candidate for negative learning since a trend towards more complex OWP (offshore wind parks) exists and uncertainty remains high. We estimate technical uncertainty and input cost uncertainty to calculate whether investments in offshore wind technology are profitable today. Applying a real option model to two reference plants using empirically derived parameter values, we allow for sunk cost and the possibility to abandon the investment. We find that for a large parameter range, investments are not profitable, even with substantial support such as feed-in tariffs under the German Energy Act. Therefore, policy incentives for building larger and more complex offshore wind parks bear a high risk to fail in their aim of bringing down investment costs. Policies that instead incentivize the optimization of offshore wind technology – in particular by increasing the load factor and material efficiency and bringing down decommissioning costs – are more sustainable. - Highlights: • We review offshore wind power investments. • Contrary to expectations costs increase. • It is unlikely to see a turn in the near future as complexity is growing. • We deploy an empirically based real option model. • Investments are not profitable across a large parameter range.

Fiduciary and Legal Considerations for Student-Managed Investment Funds

Science.gov (United States)

Gradisher, Suzanne; Kahl, Douglas R.; Clinebell, John M.; Stevens, Jerry L.

2016-01-01

Student-managed investment funds are popular forms of experiential learning in business schools and finance departments. The investment management experience is a real world activity and the structure of the fund may also introduce real world fiduciary and legal responsibilities for students, faculty, and administrators. The authors review how the…

20 CFR 670.510 - Are Job Corps center operators responsible for providing all vocational training?

Science.gov (United States)

2010-04-01

... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Are Job Corps center operators responsible for providing all vocational training? 670.510 Section 670.510 Employees' Benefits EMPLOYMENT AND TRAINING ADMINISTRATION, DEPARTMENT OF LABOR THE JOB CORPS UNDER TITLE I OF THE WORKFORCE INVESTMENT ACT...

Energy conservation investments: A comparison between China and the US

International Nuclear Information System (INIS)

Lin, Jiang

2007-01-01

Growth in energy consumption in China has soared from 2001 to 2004, driven largely by a booming economy and heavy investment in infrastructure and housing. In response, China has poured billions of dollars of investment in building power plants-at a rate of one large power plant (1000 MW) per week. In fact, China in 2004 has added the entire generating capacity of California or Spain in a single year. In contrast, investment in energy conservation projects has weakened considerably in recent years. This paper examines trends in energy efficiency investments in China and the US. The comparison highlights the potential of energy conservation investments in addressing China's current energy crisis as well as the inadequacy of such investments in China. Finally, the paper outlines a few scenarios for appropriate levels of investments in energy efficiency in China in the future

Investment Policies for College and University Endowments.

Science.gov (United States)

Spitz, William T.

1999-01-01

College trustees have a responsibility to institute investment policies that preserve real endowment value. The chief financial officer's responsibility varies, but at a minimum should provide the board with essential information and ensure that trustees understand the importance of policy decisions. Critical tasks include establishing and…

Investments

CERN Document Server

Bodie, Zvi

2013-01-01

The integrated solutions for Bodie, Kane, and Marcus' Investments set the standard for graduate/MBA investments textbooks. The unifying theme is that security markets are nearly efficient, meaning that most securities are priced appropriately given their risk and return attributes. The content places greater emphasis on asset allocation and offers a much broader and deeper treatment of futures, options, and other derivative security markets than most investment texts. McGraw-Hill's adaptive learning component, LearnSmart, provides assignable modules that help students master chapter core concepts and come to class more prepared. Bodie Investments' blend of practical and theoretical coverage combines with a complete digital solution to help your students achieve higher outcomes in the course

Role of carbon price signal on the investment decisions of companies

International Nuclear Information System (INIS)

Herve, Morgan

2011-01-01

This PhD thesis focuses on the impact of the European Union Emissions Trading Scheme (EU ETS) on investment decisions in the European power sector. We provide the policy background on the EU ETS and contemporary policy and economic developments. We discuss the main types of compliance buyers' responses to the EU ETS constraint: emissions reductions, acquisitions of additional compliance assets, and other responses. We present the results of an empirical survey of the most carbon constrained European utilities. We show that strategic and economic considerations prevailed over the introduction of the carbon price. We discuss the impact of those investments on European utilities' EU ETS profile by looking at the potentially locked-in emissions, changes in the compliance perimeter and some specific developments relative to carbon leakage and Kyoto offsets. We offer a review of the investment decision-making approaches. Exploring the impact of carbon price scenarios on generation investment portfolios, we are able to identify that: the EU ETS has a moderate but central reallocation role in power generation investment portfolios; insights into the long-term carbon price trend are particularly helpful to unlock investment; some much discussed policy provisions only have a relatively small impact on investment portfolios; carbon price expectations impact decisions relative to power generation investment portfolios; while the EU ETS has a central role, the climate and non-climate policy mix matters most. (author)

Investment Avenues

Science.gov (United States)

Jain, Priyanka

2012-11-01

Investors are a heterogeneous group, they may be large or small, rich or poor, expert or lay man and not all investors need equal degree of protection (Mayya, 1996). An investor has three objectives while investing his money, namely safety of invested money, liquidity position of invested money and return on investment. The return on investment may further be divided into capital gain and the rate of return on investment as interest or dividend. Among all investment options available, securities are considered the most challenging as well as rewarding. Securities include shares, debentures, derivatives, units of mutual funds, Government securities etc. An investor may be an individual or corporate legal entity investing funds with a view to derive maximum economic advantage from investment such as rate of return, capital appreciation, marketability, tax advantage and convenience of investment.The Capital market facilitates mobilization of savings of individuals and pools them into reservoir of capital which can be used for the economic development of a country. An efficient capital market is essential for raising capital by the corporate sector of the economy and for the protection of the interest of investors in corporate securities. There arises a need to strike a balance between raising of capital for economic development on one side and protection of investors on the other. Unless the interests of investors are protected, raising of capital, by corporates is not possible. Like, the primary objective of a senior citizenís asset allocation is the generation of regular income.

20 CFR 670.220 - Are we responsible for the protection and maintenance of center facilities?

Science.gov (United States)

2010-04-01

... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Are we responsible for the protection and maintenance of center facilities? 670.220 Section 670.220 Employees' Benefits EMPLOYMENT AND TRAINING ADMINISTRATION, DEPARTMENT OF LABOR THE JOB CORPS UNDER TITLE I OF THE WORKFORCE INVESTMENT ACT Site Selection...

Are Foreign Investments Replacing Domestic Investments? - Evidence from Finnish Manufacturing

OpenAIRE

Oksanen, Olli-Pekka

2006-01-01

This study analyses the relationship between firms’ foreign and domestic investments using a panel dataset containing 218 Finnish manufacturing firms during the years 1998-2002. The study examines whether foreign investments increase or decrease domestic investments and whether the effect varies between investments directed to developed markets or emerging markets. Financial constraints’ effect on the relationship is also investigated. The empirical part estimates an empirical investment equa...

America COMPETES Act: Programs, Funding, and Selected Issues

National Research Council Canada - National Science Library

Stine, Deborah D

2008-01-01

.... The act responds to concerns that the United States may not be able to compete economically with other nations in the future due to insufficient investment today in science and technology research...

Evaluation of the Impact of EISA Federal Project Investments

Energy Technology Data Exchange (ETDEWEB)

Judd, Kathleen S.; Wendel, Emily M.; Morris, Scott L.; Williamson, Jennifer L.; Halverson, Mark A.; Livingston, Olga V.; Loper, Susan A.

2012-12-31

The DOE's Federal Energy Management Program has been charged by Office of Management and Budget to conduct an evaluation on actual and verifiable energy savings and carbon emissions reductions from federal energy management investments made across the Federal government as a result of the Energy Independence and Security Act of 2007. This study presents the findings from that evaluation.

Evaluation of power investment decisions under uncertain carbon policy: A case study for converting coal fired steam turbine to combined cycle gas turbine plants in Australia

International Nuclear Information System (INIS)

Shahnazari, Mahdi; McHugh, Adam; Maybee, Bryan; Whale, Jonathan

2014-01-01

Highlights: • Policy uncertainty effects quantified in Australian power generation investments. • A decision criterion provided to recommend optimal investment timing. • The Clean Energy Act 2011 and high carbon price policy scenarios investigated. • Post- implementation policy uncertainty creates disincentive for policy objectives. • Setting a higher carbon price may dampen effects of political uncertainty. - Abstract: Greenhouse gas (GHG) intensive fuels are currently a major input into the Australian electricity sector. Accordingly, climate change mitigation policies represent a systematic risk to investment in electricity generation assets. Although the Australian government introduced carbon pricing in 2012 and announced a commitment to the continuation of the Kyoto protocol beyond 2012, the opposition at the time signalled that should they be provided the opportunity they would repeal these policies. This paper uses a real options analysis (ROA) framework to investigate the optimal timing of one potential business response to carbon pricing: investment in the conversion of coal plant to lower emission CCGT plant. An American-style option valuation method is used for this purpose. The viewpoint is from that of a private investor assessing three available options for an existing coal plant: (1) to invest in its conversion to CCGT; (2) to abandon it, or; (3) to take no immediate action. The method provides a decision criterion that informs the investor whether or not to delay the investment. The effect of market and political uncertainty is studied for both the Clean Energy Act 2011 (CEA) and high carbon price (HCP) policy scenarios. The results of the modelling suggest that political uncertainty after the implementation of carbon pricing impedes the decision to switch to cleaner technologies. However, this effect can be mitigated by implementing higher expected carbon prices

Understanding the Effects of Marriage and Divorce on Financial Investments

DEFF Research Database (Denmark)

Christiansen, Charlotte; Joensen, Juanne S.; Rangvid, Jesper

2015-01-01

We investigate how changes in marital status affect financial investments and how these effects vary with background risk. We use detailed register-based panel data and difference-in-differences estimatiors to benchmark common unobserved influences on financial investments. Women increase...... the fraction of wealth invested in stocks after marriage and decrease it after divorce, whereas men show the opposite behavior. Households whose joint labor income risk is reduced more by marriage have a higher increase in their exposure to risky assets in marriage. Thus income risk sharing in the household...... is important for financial risk taking and investment responses to marital transitions...

Foreign Direct Investment versus Portfolio Investment : A Global Games Approach

OpenAIRE

Yamin Ahmad; Pietro Cova; Rodrigo Harrison

2004-01-01

We present a model of investment under uncertainty about fundamentals, using a global games approach. Goldstein & Razin (2003) show that there is an information based trade-off between foreign direct investment (FDI) and portfolio investment (PI) which rationalizes some well known stylised facts in the literature - the relative volatility and reversibility of foreign direct investment versus portfolio investment. We extend their result and show that uncertainty about fundamentals does not imp...

Framework for Assessing Financial Literacy and Superannuation Investment Choice Decisions

Directory of Open Access Journals (Sweden)

Natalie Gallery

2011-06-01

Full Text Available There is a worldwide trend towards rapidly growing defined contribution pension funds in terms of assets andmembership, and the choices available to individuals. This has shifted the decisionmaking responsibility tofund members for managing the investment of their retirement savings. This change has given rise to aphenomenon where most superannuation fund members are responsible for either actively choosing orpassively relying on their funds’ default investment options. Prior research identifies that deficiencies infinancial literacy is one of the causes of inertia in financial decision-making and findings from internationaland Australian studies show that financial illiteracy is wide-spread. Given the potential significant economicand social consequences of poor financial decision-making in superannuation matters, this paper proposes aframework by which the various demographic, social and contextual factors that influence fund members’financial literacy and its association with investment choice decisions are explored. Enhanced theoretical andempirical understanding of the factors that are associated with active/passive investment choice decisionswould enable development of well-targeted financial education programs.

Output responses to infrastructure investment in the Netherlands, 1850-1913

NARCIS (Netherlands)

Groote, Peter; Jacobs, Jan; Sturm, Jan-Egbert

1995-01-01

This paper combines a new historical data set regarding capital formation in infrastructure in the Netherlands in the nineteenth century with data-oriented econometric techniques aimed at testing the causal relationship between these infrastructural investments and economic growth. The resulting

17 CFR 275.203-2 - Withdrawal from investment adviser registration.

Science.gov (United States)

2010-04-01

... application). (b) Electronic filing. Once you have filed your Form ADV (17 CFR 279.1) (or any amendments to... file must be filed with the IARD, unless you have received a hardship exemption under § 275.203-3. (c... EXCHANGE COMMISSION (CONTINUED) RULES AND REGULATIONS, INVESTMENT ADVISERS ACT OF 1940 § 275.203-2...

29 CFR 37.8 - What are a recipient's responsibilities regarding reasonable accommodation and reasonable...

Science.gov (United States)

2010-07-01

... WORKFORCE INVESTMENT ACT OF 1998 (WIA) General Provisions § 37.8 What are a recipient's responsibilities... service, program, or activity. See the definition of “fundamental alteration” in § 37.4 of this part. (1... result in such an alteration only after considering all factors listed in the definition of “fundamental...

Strategic Environmental Assessment of the Kenya Forests Act 2005

OpenAIRE

World Bank

2007-01-01

Forest in Kenya is an important source of livelihood, environmental services, and economic growth. In November of 2005 the Government of Kenya (GOK) ratified a new Forests Act. The act contains many innovative provisions to correct previous shortcomings, including a strong emphasis on partnerships, the engagement of local communities, and promotion of private investment. The purpose of the...

RUSSIAN “PYRAMID” AS A TOOL TO EVALUATE SOCIAL INVESTMENTS

OpenAIRE

Votchenko, E.S.

2016-01-01

The purpose of this research is to analyze the modern trends and today’s development stage of social investments and corporate social responsibility (CSR) in Russia. The core of the corporate interactions are social investments that are formed around the image and reputation of a modern business. It means for the Russian business community the extension of the ranges of tools and responses to calls by the authorities and society, provides a unique opportunity to build partnerships with the eq...

Energy price uncertainty, energy intensity and firm investment

International Nuclear Information System (INIS)

Yoon, Kyung Hwan; Ratti, Ronald A.

2011-01-01

This paper examines the effect of energy price uncertainty on firm-level investment. An error correction model of capital stock adjustment is estimated with data on U.S. manufacturing firms. Higher energy price uncertainty is found to make firms more cautious by reducing the responsiveness of investment to sales growth. The result is robust to consideration of energy intensity by industry. The effect is greater for high growth firms. It must be emphasized that the direct effect of uncertainty is not estimated. Conditional variance of energy price is obtained from a GARCH model. Findings suggest that stability in energy prices would be conducive to greater stability in firm-level investment. (author)

Hearing the Signal in the Noise: A Software-Based Content Analysis of Patterns in Responses by Experts and Students to a New Venture Investment Proposal

Science.gov (United States)

Hostager, Todd J.; Voiovich, Jason; Hughes, Raymond K.

2013-01-01

The authors apply a software-based content analysis method to uncover differences in responses by expert entrepreneurs and undergraduate entrepreneur majors to a new venture investment proposal. Data analyzed via the Leximancer software package yielded conceptual maps highlighting key differences in the nature of these responses. Study methods and…

Delegation of Authority Under the Community Environmental Response Facilitation Act (CERFA) - Decision Memorandum

Science.gov (United States)

This memorandum concerns how the Office of Enforcement (OE) proposed that two new authorities under the Community Environmental Response Facilitation Act (CERFA) be delegated to the Regional Administrators.

Oscillatory Brain Responses Reflect Anticipation during Comprehension of Speech Acts in Spoken Dialog

Directory of Open Access Journals (Sweden)

Rosa S. Gisladottir

2018-02-01

Full Text Available Everyday conversation requires listeners to quickly recognize verbal actions, so-called speech acts, from the underspecified linguistic code and prepare a relevant response within the tight time constraints of turn-taking. The goal of this study was to determine the time-course of speech act recognition by investigating oscillatory EEG activity during comprehension of spoken dialog. Participants listened to short, spoken dialogs with target utterances that delivered three distinct speech acts (Answers, Declinations, Pre-offers. The targets were identical across conditions at lexico-syntactic and phonetic/prosodic levels but differed in the pragmatic interpretation of the speech act performed. Speech act comprehension was associated with reduced power in the alpha/beta bands just prior to Declination speech acts, relative to Answers and Pre-offers. In addition, we observed reduced power in the theta band during the beginning of Declinations, relative to Answers. Based on the role of alpha and beta desynchronization in anticipatory processes, the results are taken to indicate that anticipation plays a role in speech act recognition. Anticipation of speech acts could be critical for efficient turn-taking, allowing interactants to quickly recognize speech acts and respond within the tight time frame characteristic of conversation. The results show that anticipatory processes can be triggered by the characteristics of the interaction, including the speech act type.

APPLIED BOTANY, I. PROTECTION OF TREES AND BUSHES IN THE INVESTMENT PROCESS IN URBAN AREAS

Directory of Open Access Journals (Sweden)

Mariola Garczyńska

2017-06-01

Full Text Available Ecosystem services are the benefits resulting from resources and processes in nature. Trees and stand densities constitute a significant element of the landscape (both in urban and rural areas and serve a number of ecosystem functions, forming an inherent part of each group of benefits singled out on the basis of the Millennium Ecosystem Assessment. In the thesis, selected ecosystem services of trees and stand densities were detailed - provisioning, regulatory, supporting and cultural functions. Diagnosis of services performed by trees and their valuation may contribute to taking increased care of them and protection during performing various investments, it is therefore appropriate to launch multifaceted ecological education to each person, particularly to those directly responsible for trees and bushes in towns and rural areas. In order to restrict construction stress to trees and bushes, environmental impact assessment has to be made as soon as the construction planning is being made (natural, cultural and landscape conditions should be provided additionally, it is advisable to conduct a dendrological inventory for planning purposes. Appropriate protection of trees and standing densities is also legally regulated by the Nature Conservation Act and the Construction Law. During the investment process, the trees and their settlement conditions should be adequately secured , so that it will not affect their viability. After completed investment, the condition of the tree stand should be monitored.

Sustainable Markets Investment Briefings: Foreign investment contracts

Energy Technology Data Exchange (ETDEWEB)

Cotula, Lorenzo

2007-08-15

This is the fourth of a series of briefings which discuss the sustainable development issues raised by legal arrangements for the protection of foreign investment. The briefings are based on legal research by IIED and its partners. The goal is to provide accessible but accurate information for human rights, development and environmental organisations working on issues raised by foreign investment in low- and middle-income countries. Briefing 4 sets out some of the ways in which foreign investment contracts can impact on sustainable development.

26 CFR 7.48-2 - Election of forty-percent method of determining investment credit for movie and television films...

Science.gov (United States)

2010-04-01

... investment credit for movie and television films placed in service in a taxable year beginning before January... Election of forty-percent method of determining investment credit for movie and television films placed in... the Tax Reform Act of 1976 (90 Stat. 1595), taxpayers who placed movie or television films (here...

78 FR 77377 - Small Business Investment Companies-Investments in Passive Businesses

Science.gov (United States)

2013-12-23

... SMALL BUSINESS ADMINISTRATION 13 CFR Part 107 RIN 3245-AG57 Small Business Investment Companies--Investments in Passive Businesses AGENCY: U.S. Small Business Administration. ACTION: Proposed rule. SUMMARY... Investment Company (SBIC) program concerning investments in passive businesses. SBICs are generally...

Ranking independent timber investments by alternative investment criteria

Science.gov (United States)

Thomas J. Mills; Gary E. Dixon

1982-01-01

A sample of 231 independent timber investments were ranked by internal rate of return, present net worth per acre and the benefit cost ratio—the last two discounted by 3, 6.4. 7.5. and 10 percent—to determine if the different criteria had a practical influence on timber investment ranking. The samples in this study were drawn from a group of timber investments...

Investment Process in Romania and Institutional

Directory of Open Access Journals (Sweden)

Dan Marius VOICILAŞ

2011-12-01

Full Text Available The concepts set out and the macroeconomic policies implemented during the past twenty years have been different and controversial. They have aimed at creating an economic environment conducive to the infusion of foreign capital and development of sectors considered as a priority at that time, which can ensure a sound macro-economic stability, taking into account the fact that there is not enough domestic capital to participate in achieving these objectives. In this paper we will focus on foreign direct investment (FDI policies designed to promote them, their effects on national economy in general terms and features of investment in rural and agricultural sector, which we consider key elements of success in economic growth. Also, the institutional framework in which the investment process took place is thoroughly addressed given that most times the general investment climate of a certain market is influenced both by legislation and the institutions involved in economic life. The experience of transition and the experiences of other countries have shown how important are institutions created to coordinate, support and control of investment activity. We included in this analysis institutions and organizations in Romania with responsibilities in the investment field. Based on this analysis, and on the contributions of institutions to create the proper economic development, but also by investors' direct contribution to the creation of this framework by policy makers recommendations, it is obtained a profile of the business environment in Romania, including what is best but what is missing and it needs to be implemented. We consider that this approach is an important step in addressing the institutional investment process and it creates prerequisites of disseminating essential information and remedial implications to stakeholders.

Mobilisation, politics, investment and constant adaptation: lessons from the Australian health-promotion response to HIV.

Science.gov (United States)

Brown, Graham; O'Donnell, Daryl; Crooks, Levinia; Lake, Rob

2014-04-01

The Australian response to HIV oversaw one of the most rapid and sustained changes in community behaviour in Australia's health-promotion history. The combined action of communities of gay men, sex workers, people who inject drugs, people living with HIV and clinicians working in partnership with government, public health and research has been recognised for many years as highly successful in minimising the HIV epidemic. This article will show how the Australian HIV partnership response moved from a crisis response to a constant and continuously adapting response, with challenges in sustaining the partnership. Drawing on key themes, lessons for broader health promotion are identified. The Australian HIV response has shown that a partnership that is engaged, politically active, adaptive and resourced to work across multiple social, structural, behavioural and health-service levels can reduce the transmission and impact of HIV. The experience of the response to HIV, including its successes and failures, has lessons applicable across health promotion. This includes the need to harness community mobilisation and action; sustain participation, investment and leadership across the partnership; commit to social, political and structural approaches; and build and use evidence from multiple sources to continuously adapt and evolve. So what? The Australian HIV response was one of the first health issues to have the Ottawa Charter embedded from the beginning, and has many lessons to offer broader health promotion and common challenges. As a profession and a movement, health promotion needs to engage with the interactions and synergies across the promotion of health, learn from our evidence, and resist the siloing of our responses.

Responsiveness of migraine-ACT and MIDAS questionnaires for assessing migraine therapy.

Science.gov (United States)

García, María Luisa; Baos, Vicente; Láinez, Miguel; Pascual, Julio; López-Gil, Arturo

2008-10-01

Migraine is frequently undertreated. The 4-item Migraine Assessment of Current Therapy (Migraine-ACT) questionnaire is a simple and reliable tool to identify patients requiring a change in current acute migraine treatment. To investigate the responsiveness of the Migraine-ACT tool, and compare it with that of the Migraine Disability Assessment (MIDAS) questionnaire, for patients with migraine at 1100 primary care sites in Spain. Patients eligible for this open-label, 2-visit prospective study reported migraine for >1 year and >or=1 migraine attack per month and were new to the clinic or on follow-up care for MIDAS questionnaires were administered, and patient satisfaction with treatment was recorded, at baseline and at 3 months. A total of 3272 patients, 78% female, were enrolled, and 2877 (88%) returned for the 3-month visit. Investigators changed baseline migraine treatment for 72% of returning patients; 85% and 80% of these patients had improved Migraine-ACT and MIDAS scores at 3 months, respectively. Patients who reported being completely or very satisfied with migraine treatment numbered 492 (15%) at baseline and 1406 (49%) at 3 months. Migraine-ACT and MIDAS score agreement for improvement at 3 months was poor (kappa = 0.339). Both the mean MIDAS score and the distribution of Migraine-ACT scores improved over the course of 3 months; however, Migraine-ACT scores were significantly (P MIDAS scores. The area under the curve in the receiver-operating characteristic analysis was significantly (P MIDAS (0.70) questionnaire. These results suggest that the Migraine-ACT questionnaire can be used more reliably than the MIDAS questionnaire for detecting improvements in treatment of new and follow-up patients with migraine.

Female Directors and Corporate Social Responsibility: Evidence from the Environmental Investment of Chinese Listed Companies

Directory of Open Access Journals (Sweden)

Feng Wei

2017-12-01

Full Text Available Taking Chinese listed companies in 2008–2015 as the sample, in this paper we test in detail the impact of female directors on corporate environmental investments. Furthermore, we study the impact of female directors on environmental investment in enterprises with different types of ownership and industry attributes. Empirical studies show that when there are only 1 or 2 female directors on the board, no significant impact on the scale of corporate environmental investment can be seen. However, when the number reaches at least 3, female directors have a significantly positive impact on the scale of corporate environmental investment. This confirms critical-mass theory; meanwhile, we find that the empirical results do not indicate any significant correlation when the variable of female directors is measured by the proportion of female directors and the Blau index of gender balance. Further analysis suggests that in state-owned enterprises and enterprises from heavily-polluting industries, the above findings remain true, while in non-state-owned enterprises and enterprises from non-heavily-polluting industries, the above findings prove false, i.e., that the impact of female directors on corporate environmental investment is not significant. The conclusion demonstrates that the impact of female directors on environmental investment varies in enterprises with different types of ownership and industry attributes.

Foreign investment in Russia: obstacles and opportunities

International Nuclear Information System (INIS)

Moody-Stuat, M.

1994-01-01

An overview of recent developments with regard to foreign investment in the Russian oil industry is presented. Progress has already been made in the oil and gas sector but some important issues which still remain insufficiently resolved for the potential Western investor are examined. These are: the settlement of the internal division of responsibilities; a stable legal and fiscal framework for foreign investment; decisions on what Russia wants from foreign oil companies; only difficult and costly fields are on offer; reserve estimates are not based on economic criteria; implementation of environmental and operational standards. (UK)

76 FR 2029 - Small Business Investment Companies-Energy Saving Qualified Investments

Science.gov (United States)

2011-01-12

... 3245-AF86 Small Business Investment Companies--Energy Saving Qualified Investments AGENCY: U.S. Small... Administration (SBA) is setting forth the new defined terms, ``Energy Saving Qualified Investment'' and ``Energy Saving Activities'', for the Small Business Investment Company (SBIC) Program. The new definitions are...

77 FR 73064 - Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940

Science.gov (United States)

2012-12-07

... Genworth Financial Wealth Management, Inc., and later reimbursed by the sponsor of the substituting...) 551-6810, SEC, Division of Investment Management, Office of Investment Company Regulation, 100 F... Select Fund [File No. 811-22614]; Hatteras Sector Select Institutional Fund [File No. 811-22615] Summary...

12 CFR 703.5 - Discretionary control over investments and investment advisers.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Discretionary control over investments and investment advisers. 703.5 Section 703.5 Banks and Banking NATIONAL CREDIT UNION ADMINISTRATION REGULATIONS AFFECTING CREDIT UNIONS INVESTMENT AND DEPOSIT ACTIVITIES § 703.5 Discretionary control over investments and...

The strategy of ethic investment of the Norwegian petroleum fund and arms companies

International Nuclear Information System (INIS)

Paulin, Cedric

2006-01-01

The author comments the background of the consecutive disengagements of the Norwegian Government Petroleum Fund from several companies belonging to the arms sector, a disengagement which complies with the opinion of various actors in favour of a socially responsible investment, and of NGOs and associations opposed to the armament sector. After having recalled the global definition of this fund which was created in 1990, and of its investment policy, the author analyses the framework within which these disengagements occur, comments how these different spheres (the fund and the other above mentioned actors) finally met. He also wanders whether this ethics actually concern arms company or is in fact related to a problem proper to investment funds in general. The author notably indicates the various arms companies from which the Petroleum Fund withdrew its investments. The author also outlines some remaining ambiguities of the strategy of ethic investment of the former Norwegian Petroleum Fund, and shows that its methodology of ethic and socially responsible investment applied to the arms sector is in fact not yet precisely defined

Geothermal power plant investment decisions. Interim report, June 1-November 30, 1979

Energy Technology Data Exchange (ETDEWEB)

Cassel, T.A.V.; Amundsen, C.B.; Edelstein, R.H.; Blair, P.D.

1979-12-01

Investment decisions for financing the construction of geothermal power plants are discussed. Discussed here are the investment objectives of investor-owned electric utilities, municipal electric utilities, and potential third party financiers as determined from extensive reviews of literature, executive interviews and responses to mailed surveys. The framework is provided for a computerized quantitative decision model currently being developed at Technecon for investment and policy analysis applications. (MHR)

The market will take care of that. Real Investment Practices on the Deregulated Electricity Market; Det daer ordnar marknaden. Investeringspraktik paa den avreglerade marknaden

Energy Technology Data Exchange (ETDEWEB)

Roennborg, Petter (Univ. of Gothenburg, Goeteborg (Sweden). School of Business, Economics and Law)

2009-06-15

This dissertation deals with market actors' motives and the overall driving forces for undertaking real investments in electricity-generation facilities. Two factors induce interest in this subject. Firstly, the stationary electricity industry faces tremendous real-investment challenges. Secondly, these investments are to be undertaken within the institutional logic of the free market. Thus, the electricity company has to make decisions in a completely new setting. The market logic suggests that actors should maximize profits and respond to market price-signals. Most previous studies on real-investments in the stationary electricity industry apply this perspective. However, empirical research on real investments and organizational decisions-making, emphasizes that this is a normative perspective and it does not represent a valid description of reality when examining decision-making. Therefore, the purpose of the study is to empirically describe how the market- actors develop plausible argumentation and how they act, in practical real-investment situations, thereby enriching our understanding of motives and driving forces. Building on institutional theory, the undertaking of real-investments is considered as the result of a specific social practice, here called real-investment-practice. This theoretical perspective holds that three detailed elements constitute the real-investment-practice: one interpretative-oriented, one process-oriented, and one decision-oriented. Applying this perspective thus allows us to capture the contextual settings; the pattern of behavior characterizing the real-investments' course of events; and the application and the interpretation of analytical evaluation models. In line with this perspective, this PhD Thesis explores three questions: 1) How do the market actors construe the contextual settings, and how is the act of construing translated into real-investments in production capacity? 2) How do the market actors proceed in

Personal Investment in Higher Education

Science.gov (United States)

Parzen, Maurine

2010-01-01

Since 2005, in Ontario, RPN's have had the option to return to school to obtain their BScN degree in three years of full time study instead of four years. Many of these students are mature and come with prior family and financial responsibilities that add extra challenges to their learning experience. Questioning their choice of investment in…

Fair market value vs. net investment

International Nuclear Information System (INIS)

Lagassa, G.K.

1991-01-01

This paper reports that among the 300 some hydro electric power stations coming up for relicensing in the 1990s, some of them will certainly be taken over by the federal government or by competing license applications. Under prevailing interpretations of net investment value contained in the Federal Power Act, it is entirely likely that companies who lose a hydro station this way will go substantially uncompensated. Professional appraisal techniques for determining fair market value of property could produce substantially higher payments for lost hydro stations and may be a more appropriate standard for such applications

Trends in Business Investment

OpenAIRE

Lydon, Reamonn; Scally, John

2014-01-01

This article examines trends in business investment in Ireland. Consistent with the international evidence on investment cycles, we show that business investment in Ireland exhibits large cyclical movements around a long-run trend relative to GDP. Changes in business investment broadly coincide with the overall business cycle, although swings in investment tend to be far greater, with extended periods of both over- and under-investment relative to GDP. The sharp fall in business investment si...

Giga-Investments: Modelling the Valuation of Very Large Industrial Real Investments

OpenAIRE

Collan, Mikael

2004-01-01

In this doctoral dissertation characteristics of very large industrial real investments (VLIRI) are investigated and a special group of VLIRI is defined as giga-investments. The investment decision-making regarding to giga-investments is discussed from the points of view of discounted cash-flow based methods and real option valuation. Based on the bacground of establishing giga-investments, state-of-the-art in capital budgeting (including real options) and by applying fuzzy numbers a novel me...

78 FR 57154 - Sunshine Act Meeting

Science.gov (United States)

2013-09-17

... FEDERAL RETIREMENT THRIFT INVESTMENT BOARD Sunshine Act Meeting TIME AND DATE: 9:00 a.m. (Eastern Time) September 23, 2013. PLACE: 10th Floor Board Meeting Room, 77 K Street NE., Washington, DC 20002... of the Minutes of the August 9, 2013 Board Member Meeting 2. Thrift Savings Plan Activity Reports by...

Responses to a warming world: Integrating life history, immune investment, and pathogen resistance in a model insect species.

Science.gov (United States)

Laughton, Alice M; O'Connor, Cian O; Knell, Robert J

2017-11-01

Environmental temperature has important effects on the physiology and life history of ectothermic animals, including investment in the immune system and the infectious capacity of pathogens. Numerous studies have examined individual components of these complex systems, but little is known about how they integrate when animals are exposed to different temperatures. Here, we use the Indian meal moth ( Plodia interpunctella ) to understand how immune investment and disease resistance react and potentially trade-off with other life-history traits. We recorded life-history (development time, survival, fecundity, and body size) and immunity (hemocyte counts, phenoloxidase activity) measures and tested resistance to bacterial ( E. coli ) and viral ( Plodia interpunctella granulosis virus) infection at five temperatures (20-30°C). While development time, lifespan, and size decreased with temperature as expected, moths exhibited different reproductive strategies in response to small changes in temperature. At cooler temperatures, oviposition rates were low but tended to increase toward the end of life, whereas warmer temperatures promoted initially high oviposition rates that rapidly declined after the first few days of adult life. Although warmer temperatures were associated with strong investment in early reproduction, there was no evidence of an associated trade-off with immune investment. Phenoloxidase activity increased most at cooler temperatures before plateauing, while hemocyte counts increased linearly with temperature. Resistance to bacterial challenge displayed a complex pattern, whereas survival after a viral challenge increased with rearing temperature. These results demonstrate that different immune system components and different pathogens can respond in distinct ways to changes in temperature. Overall, these data highlight the scope for significant changes in immunity, disease resistance, and host-parasite population dynamics to arise from small

Prioritising Investments in Marketing Activities to Improve Business Performance

DEFF Research Database (Denmark)

Martensen, Anne; Mouritsen, Jan

2014-01-01

The purpose of this study is to prioritise investments in marketing activities based on their effect on business performance (BP). On the basis of the European Foundation for Quality Management (EFQM) model adapted to a marketing context, four generic marketing activities are structured in two...... dimensions: (1) Small m: marketing strategy and marketing implementation and (2) big M: cross-functional coordination and innovation. Big M and small m interact and influence BP similarly. When considering investing in marketing activities to improve financial performance, the first priority is to recruit...... and retain competent employees and the second, to collect, disseminate and act upon market insight in the form of measurement of effectiveness and production of intelligence. These provide resources for the development of a customer-oriented marketing strategy that in turn helps innovation and cross...

76 FR 68520 - Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940

Science.gov (United States)

2011-11-04

... Berkeley St., Boston, MA 02116. Global Real Estate Investments Fund [File No. 811-22322] Summary: Applicant... transferred its assets to James Alpha Global Real Estate Investments Portfolios, a series of Saratoga... reason for the request, and the issues contested. Persons who wish to be notified of a hearing may...

Investments

CERN Document Server

Bodie, Zvi; Marcus, Alan J.

2017-01-01

The integrated solutions for Bodie, Kane, and Marcus' Investments set the standard for graduate/MBA investments textbooks. The unifying theme is that security markets are nearly efficient, meaning that most securities are priced appropriately given their risk and return attributes. The content places greater emphasis on asset allocation and offers a much broader and deeper treatment of futures, options, and other derivative security markets than most investment texts. Connect is the only integrated learning system that empowers students by continuously adapting to deliver precisely what they need, when they need it, and how they need it, so that your class time is more engaging and effective.

17 CFR 275.203(b)(3)-1 - Definition of “client” of an investment adviser.

Science.gov (United States)

2010-04-01

... Definition of “client” of an investment adviser. Preliminary Note to § 275.203(b)(3)-1. This section is a... single client for purposes of section 203(b)(3) of the Act. Under paragraph (b)(6) of this section, the... be a single client for purposes of section 203(b)(3) of the Act (15 U.S.C. 80b-3(b)(3)): (1) A...

77 FR 20853 - Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940

Science.gov (United States)

2012-04-06

... BlackRock Low Duration Bond Portfolio, a series of BlackRock Funds II, based on net asset value. Of... Investment Management, Office of Investment Company Regulation, 100 F Street NE., Washington, DC 20549-8010... approximately $32,393 incurred in connection with the liquidation were paid by Reich & Tang Asset Management...

75 FR 25002 - Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940

Science.gov (United States)

2010-05-06

... Strategic Value Fund, a series of Advantage Funds, Inc., based on net asset value. Expenses of $81,000... ceased to be an investment company. On September 25, 2009, applicant transferred its assets to Alliance... AllianceBernstein L.P., applicant's investment adviser. Filing Date: The application was filed on March 18...

GREEN INVESTMENT: A STRATEGY FOR SUSTAINABLE ECONOMIC GROWTH AND INVESTMENT

Directory of Open Access Journals (Sweden)

Jaya Shukla

2014-01-01

Full Text Available Sustainable economic development has become an important area of concern due to climatic change with its long term effects. Climatic change has posed several challenges for economic sustainability of economies. Now major development projects have to comply with international environmental norms. Failure to do so may result in the delay of a project, fines including penalties for environmental damage or charges for remedial action, that affect the viability of a project or the value of any security taken. This paper investigates with help of secondary date using descriptive statistical technique opportunities and challenges of green investment. Here it is developed into suitable model for developing economies for successfully adopting green investment without much cost to their economies. The paper concludes that green investment involving direct investment and portfolio investment in firms adopting and following environmental protection norms will lead to sustainable growth and investment for economy.

RISKS ASSOCIATED WITH INVESTMENTS IN STRUCTURED INVESTMENT PRODUCTS, SELECTION CRITERIA OF SIP`S

Directory of Open Access Journals (Sweden)

Ignatyuk Aleksandr Sergeevich

2013-05-01

Full Text Available Purpose To identify and classify the major risks affecting on the structured investment products, to submit proposals to limit their impact. Methodology The work is based on a studying of the practice of investments in structured investment products, detection and investigation of sources of market risk of structured investment products. Results Structured investment products, as any other investment product, has a significant set of risks that could affect to a large extent on its evaluation and determine the behavior of the investor. Financial engineers have the ability to control most of these risks, as well as to limit their impact. Thus, the structured investment product, unlike most classic investment instruments can provide investors with highly transparent mechanism to determining the ratio of investment risk and potential income. Practical implications The results can be used in a scientific investigation of the phenomenon of structured investment products, as well as practical work on the formation of the structured products by investment banks and brokerage firms.

75 FR 67145 - Sunshine Act: Public Hearing

Science.gov (United States)

2010-11-01

... OVERSEAS PRIVATE INVESTMENT CORPORATION Sunshine Act: Public Hearing TIME AND DATE: 2 p.m... Avenue, NW., Washington, DC. STATUS: Hearing open to the Public at 2 p.m. PURPOSE: Public Hearing in... hearing orally must provide advance notice to OPIC's Corporate Secretary no later than 5 p.m. Thursday...

The Influence of Foreign Direct Investments on Regional Development in Croatia

Directory of Open Access Journals (Sweden)

Ines Kersan-Škabić

2014-12-01

Full Text Available The aim of this study was to determine the influence of foreign direct investments (FDI on regional development in Croatia and to contribute to previous studies that deal with regional FDI re-allocations. Our analysis was conducted at the NUTS 3 level (21 Croatian counties and applied panel data analysis to determine the influence of FDI as well as other factors that proved to be significant in regional development in Croatia. The results point out that investment (i.e., both domestic and foreign direct investments, labor productivity, and export have a positive and significant influence on regional development, while absorptive capacity has a negative influence. It is therefore important to strengthen the absorptive capacity of Croatian regions to create a favorable investment environment and to provide good preconditions for the development of other factors of regional development. Findings are relevant for policy-makers who should take more proactive roles in attracting FDI as a way of strengthening regional development in Croatia. This may help policy-makers to act locally to achieve cohesion, but it can also be important for foreign investors that observe regional FDI determinants in the European Union.

Social Impact Investment: Increasing Private Sector Investment to ...

International Development Research Centre (IDRC) Digital Library (Canada)

The social impact investment market is now global in scope and it is rapidly expanding in some ... of social impact investing to address environmental, social, and economic challenges. ... New project to improve water management in the Sahel.

The ''Article Act'' - a substitute for the miscarried energy consensus?

International Nuclear Information System (INIS)

Knott, G.

1994-01-01

A prerequisite for arriving at a long-term energy policy is that all political parties come to an energy consensus. This paper reviews the chronology of the energy consensus negatiations, their failure, and the consequent energy-political rerouting which is to be realised by an act securing hard coal a share in electricity generation and amending the Atomic Energy Act (termed 'Article Act'). The Article Act is an attempt at a binding definition of central issues of the energy consensus talks even in the absence of an all-party agreement. It is particularly noteworthy that the bill makes mention of both coal and nuclear energy, reviving this link-up between the two energy sources already decined lost. The German electricity industry considers the provisions on atomic energy law contained in the Article Act insufficient for securing already existing power plants an untroubled future and for providing the investment climate needed by the manufacturing industry. To the electricity industry the main problems lie in the execution deficits at the Laender level, but these are not affected by the Article Act. It is concluded that an all-party consensus on an answerable nuclear energy utilisation will have to be found by 1995 at the latest in order to give the manufacturing industry the go-alread for continuing research and provide electricity producers with a sound basis for investment decisions. (orig./HSCH) [de

Leverage as a State Variable for Employment, Inventory Accumulation, andFixed Investment

OpenAIRE

Charles W. Calomiris; Athanasios Orphanides; Steven A. Sharpe

1994-01-01

The importance of a firm's balance sheet for determining its investment and employment decisions is the central assumption of macroeconomic models of 'debt deflation' or 'debt overhang.' According to these models, firm investment decisions are influenced not only by the fundamental opportunity set of the firm, but also by the firm's existing financial condition, especially its leverage. This paper tests that assumption by examining whether the responsiveness of employment, investment, and inv...

Research on Chinese Energy Investment in Turkey under the Silk Road Strategy

Science.gov (United States)

Huang, Yiling

2017-11-01

In the context of China’s peaceful rise, the Silk Road strategy will promote China participation in Global trade and investment. The Turkish government has announced a new incentive plan to attract investor. Therefore, Chinese energy investment in Turkey is facing some precious opportunities. However, cultural differences, Turkey’s domestic economic problems, political turmoil and other multiple factors bring severe challenges to China’s energy investment in Turkey, which requires a constructive response.

Investment timing under uncertain renewable energy policy: An empirical study of small hydropower projects

International Nuclear Information System (INIS)

Linnerud, Kristin; Andersson, Ane Marte; Fleten, Stein-Erik

2014-01-01

Policy uncertainty can be a powerful deterrent to immediate investments. Based on panel data of 214 licenses to construct small run-of-the-river hydropower plants, we examine whether the prospect of a common Swedish–Norwegian market for green certificates (i.e., a renewable portfolio standard scheme) affected the timing of investments. Our results show that traditional utilities and other professional investors in the energy market acted in accordance with a real options investment rule, and the prospect of possible future subsidies delayed their investment decision. On the other hand, our results do not show that farmers and other non-professional investors incorporated timing considerations in their investment decisions. Rather, our results indicate that these investors behaved as if their investment opportunity is now-or-never, investing if the project is profitable according to a net present value investment rule, ignoring the opportunity to create additional value by waiting. The observed difference in behavior between professional and non-professional investors is interesting given the distributed nature of many renewable energy technologies, and can help planners and policymakers better understand the forces shaping the future market for electricity. - Highlights: • We examine whether the prospect of introducing subsidies delayed investments in hydropower. • We find that professional and non-professional investors behaved differently. • Professional investors explored the opportunity to create additional value by waiting. • Farmers behaved as if their investment opportunity was now-or-never. • These observations are interesting given the distributed nature of renewable energy technologies

Inclusive Development and Chinese Foreign Direct Investment in ...

International Development Research Centre (IDRC) Digital Library (Canada)

... and maximizing the benefits of foreign direct investment, especially in terms of ... of Economics and Business Management at the National University of Laos, and the Cambodia Economics Association. ... Agent(e) responsable du CRDI.

76 FR 59767 - Plexus Fund II, L.P.; Notice Seeking Exemption Under Section 312 of the Small Business Investment...

Science.gov (United States)

2011-09-27

..., Financings which Constitute Conflicts of Interest of the Small Business Administration (``SBA'') Rules and Regulations (13 CFR 107.730). Plexus II, L.P., proposes to provide debt security financing to Project Empire... the Small Business Investment Act of 1958, as amended (``the Act''), in connection with the financing...

The America COMPETES Act and the FY2009 Budget

National Research Council Canada - National Science Library

Stine, Deborah D

2008-01-01

The America COMPETES Act (P.L. 110-69) responds to concerns that the United States may not be able to compete economically with other nations in the future due to insufficient investment today in science and technology research...

The Business Case for Investing in Physician Well-being.

Science.gov (United States)

Shanafelt, Tait; Goh, Joel; Sinsky, Christine

2017-12-01

on investment measurable. Addressing this issue is not only the organization's ethical responsibility, it is also the fiscally responsible one.

TAX REFORMS AND INVESTMENT IN NIGERIA: AN EMPIRICAL ...

African Journals Online (AJOL)

GRACE

Tax generated revenues are used to finance public utilities, perform social responsibilities and grease the ..... Capital Theory and Investment Behaviours, The American Review,. 53:247-257. ... ESUT Journal of Accounting, 5(2). December ...

12 CFR 225.107 - Acquisition of stock in small business investment company.

Science.gov (United States)

2010-01-01

...) of the Act makes it unlawful for a bank to invest any of its funds in the capital stock of any other... 12 Banks and Banking 3 2010-01-01 2010-01-01 false Acquisition of stock in small business...) Regulations Financial Holding Companies Interpretations § 225.107 Acquisition of stock in small business...

Foreign Direct Investment and China’s Productivity Growth during the 1997 Asian Financial Crisis

Directory of Open Access Journals (Sweden)

Fulgence Dominick Waryoba

2017-09-01

Full Text Available The study estimates the fixed effect model using cross–section weights to estimate panel EGLS for 7 years in 29 regions of China. Though for the sample period, foreign direct investment influences productivity positively, the effect is very lower compared to other factors in the model. Conversely, labor has a very high influence on productivity for the period under consideration. Nevertheless, the years after 1997 have shown more productivity growth compared to the years before 1997. This is probably due to the fact that the government acted quickly to recover by boosting the external demand. Consequently, the contribution of export on productivity growth is significantly large. As long as China’s productivity keeps growing, high technological foreign direct investments will continue to flow into the economy. Chinese government should continue to invest in human capital to match with high technology embodied in foreign direct investments for the economy to continue experiencing high productivity growth.

26 CFR 1.856-0 - Revenue Act of 1978 amendments not included.

Science.gov (United States)

2010-04-01

... 26 Internal Revenue 9 2010-04-01 2010-04-01 false Revenue Act of 1978 amendments not included. 1.856-0 Section 1.856-0 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Real Estate Investment Trusts § 1.856-0 Revenue Act of 1978...

77 FR 16282 - Columbia Funds Master Investment Trust, LLC, et al.; Notice of Application

Science.gov (United States)

2012-03-20

... liability companies or Massachusetts business trusts, and are registered with the Commission as open-end... Trusts, each of which operates as a ``fund of funds.'' Columbia Management, a Minnesota limited liability... SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 29980; File No. 812-13955...

Moral identity and the experience of moral elevation in response to acts of uncommon goodness.

Science.gov (United States)

Aquino, Karl; McFerran, Brent; Laven, Marjorie

2011-04-01

Four studies using survey and experimental designs examined whether people whose moral identity is highly self-defining are more susceptible to experiencing a state of moral elevation after being exposed to acts of uncommon moral goodness. Moral elevation consists of a suite of responses that motivate prosocial action tendencies. Study 1 showed that people higher (vs. lower) in moral identity centrality reported experiencing more intense elevating emotions, had more positive views of humanity, and were more desirous of becoming a better person after reading about an act of uncommon goodness than about a merely positive situation or an act of common benevolence. Study 2 showed that those high in moral identity centrality were more likely to recall acts of moral goodness and experience moral elevation in response to such events more strongly. These experiences were positively related to self-reported prosocial behavior. Study 3 showed a direct effect on behavior using manipulated, rather than measured, moral identity centrality. Study 4 replicated the effect of moral identity on the states of elevation as well as on self-reported physical sensations and showed that the elevation mediates the relationship between moral identity, witnessing uncommon goodness, and prosocial behavior.

The Deadlock Principle as a Ground for the Just and Equitable Winding Up of a Solvent Company: Thunder Cats Investments 92 (Pty Ltd v Nkonjane Economic Prospecting Investment (Pty Ltd 2014 5 SA 1 (SCA

Directory of Open Access Journals (Sweden)

Tumo Charles Maloka

2016-05-01

Full Text Available The question addressed by the Supreme Court of Appeal in Thunder Cats Investment 92 (Pty Ltd v Nkonjane Economic Prospecting & Investments (Pty Ltd 2014 5 SA 1 (SCA (hereafter the "Thunder Cats" provides much-needed guidance on the deadlock principle as well as the breadth and scope of the "just and equitable ground for winding up in terms of s 81(1(d(iii of the Companies Act 71 of 2008. The facts, the issues and the contextual authority of Thunder Cats also bring to fore the lacuna in the just and equitable winding up provisions of the current Companies Act which lacuna has so far received no judicial or academic consideration. This Note contends the fact that the just and equitable winding up provisions do not countenance any deviation from the statutory prescriptions once the factual grounds for just and equitable winding up have been established is not in consonance with the spirit, purport and objects of Companies Act, and, in particular those of Chapter Six of the Act which have introduced the innovative business rescue scheme into South African corporate law landscape. The facts, the issues and the contextual authority of Thunder Cats will be reviewed at length in the ensuing discussion.

Risk implications of investments in demand response from an aggregator perspective

DEFF Research Database (Denmark)

Katz, Jonas; Kitzing, Lena

2016-01-01

gross margins and their probability distributions. We find that, for a case of Danish residential customers with optimistic assumptions on the available flexibility in terms of flexible volumes and load-shift time horizons, the benefits may be in the range of current investment cost for automation...

Nudging best practice: the HITECH act and behavioral medicine

OpenAIRE

Hesse, Bradford William; Ahern, David K; Woods, Susan S

2010-01-01

In February 2009, the US Congress passed the Health Information Technology for Economic and Consumer Health (HITECH) Act in order to stimulate the “meaningful use” of health information technology within medical practice. Economists have noted that other sectors in the economy have demonstrated substantive productivity improvements from investments in information technology but that the health sector lags behind. The “meaningful use” stipulation of the HITECH Act focuses systems redesign with...

INVESTMENT FUNDS IN ROMANIA

Directory of Open Access Journals (Sweden)

COPIL CRINA ANGELA

2013-07-01

Full Text Available I chose this topic because my goal was to capture in detail all aspects of the evolution of investment funds under the influence of factors leading to globalization of the banking financial market. Main motivation was that I proposed to present in an original manner the concept of investment in mutual funds by the thoroughness of the following points: the different types of investment funds from Romania, the advantages, the risks and the specific costs of the investment in mutual funds and the effects of the financial crisis on the industry of the investment funds on the national level. The financial crisis and the risk of infecting the global economy affected the taste of risk of the investors and their request for the investment fund, determining the orientation of the investors to the funds with a lower risk – the diversified funds, the funds of bonds and the monetary funds. I considered important the theoretical approach of the concept of investments in investment funds because they are a barometer of the macro economical stability, in case the economical increase is positive on the macro economical level the investments in investments funds are increasing too. In Romania the market of the mutual funds is at an incipient level, but with potential and perspectives of development. Due to the bankruptcy of FNI in the beginning of the years 2000 and due to the absence of a clear legislation regarding the calculation of the unitary value of the net asset and the control of the activity developed by the investment funds, the development of the industry of the investment funds had to fight against the crisis of credibility generated by these events. The convergence of the Romanian economy to the European standards will attract also a modification of the structure of the financial investments of the individuals, by an increase of the investments in funds. In the world the investment funds are preferred by the investors for their advantages

Responsible investors acting on climate change. Investors acting on climate change. Climate: Investors take action

International Nuclear Information System (INIS)

Simon, Marie; Blanc, Dominique; Husson-Traore, Anne-Catherine; Amiell, Alison; Barochez, Aurelie de; Conti, Sophie; Kamelgarn, Yona; Bonnet, Olivier; Braman, Stuart; Chenet, Hugues; Fisher, Remco; Hellier, Mickael; Horster, Maximilian; Kindelbacher, Sophie; Leaton, James; Lieblich, Sebastien; Neuneyer, Dustin; Lenoel, Benjamin; Smart, Lauren; Torklep Meisingset, Christine

2015-02-01

Some investors are willing to lower the carbon emission financed by their investment, recognizing that climate change has financial impacts. At first they measure the carbon footprint of their portfolio, than initiate shareholder engagement actions at oil and gas companies, publish list of exclusion composed of the most carbon-intensive companies and ask for ex fossil fuels indices. In June 2015, Novethic launches the first actualisation of its study released on February 2015 on the mobilisation of investors on climate change over the whole 2015 year. The trend is gaining momentum since more than 200 additional investors publicly disclosed commitments to integrate climate risk into their investment and management practices. In September 2015, for its second update of the report on how investors are taking action on climate change, more than 800 entities were screened. As a key result, investor's actions gain momentum: approaches are growing in number and becoming more expert, divestments are widespread in Europe, and green investments promises are more ambitious. The last edition of November 2015 highlights and scans an exclusive panel of 960 investors worth Euro 30 trillion of assets who have made steps forward to tackle climate change. During the last 8 months, their number has almost increased twofold. This document brings together the first edition of Novethic's study and its three updates

Water2Invest: Global facility for calculating investments needed to bridge the climate-induced water gap

Science.gov (United States)

Straatsma, Menno; Droogers, Peter; Brandsma, Jairus; Buytaert, Wouter; Karssenberg, Derek; Meijer, Karen; van Aalst, Maaike; van Beek, Rens; Wada, Yoshihide; Bierkens, Marc

2013-04-01

Decision makers responsible for climate change adaptation investments are confronted with large uncertainties regarding future water availability and water demand, as well as the investment cost required to reduce the water gap. Moreover, scientists have worked hard to increase fundamental knowledge on climate change and its impacts (climate services), while practical use of this knowledge is limited due to a lack of tools for decision support under uncertain long term future scenarios (decision services). The Water2Invest project aims are to (i) assess the joint impact of climate change and socioeconomic change on water scarcity, (ii) integrate impact and potential adaptation in one flow, (iii) prioritize adaptation options to counteract water scarcity on their financial, regional socio-economic and environmental implications, and (iv) deliver all this information in an integrated user-friendly web-based service. Global water availability is computed between 2006 and 2100 using the PCR-GLOBWB water resources model at a 6 minute spatial resolution. Climate change scenarios are based on the fifth Assessment Report (AR5) of the IPCC Coupled Model Intercomparison Project (CMIP5) that defines four CO2 emission scenarios as representative concentration pathways. Water demand is computed for agriculture, industry, domestic, and environmental requirements based on socio-economic scenarios of increase in population and gross domestic product. Using a linear programming algorithm, water is allocated on a monthly basis over the four sectors. Based on these assessments, the user can evaluate various technological and infrastructural adaptation measures to assess the investments needed to bridge the future water gap. Regional environmental and socioeconomic effects of these investments are evaluated, such as environmental flows or downstream effects. A scheme is developed to evaluate the strategies on robustness and flexibility under climate change and scenario uncertainty

Optimizing power system investments and resilience against attacks

International Nuclear Information System (INIS)

Fang, Yiping; Sansavini, Giovanni

2017-01-01

This paper studies the combination of capacity expansion and switch installation in electric systems that ensures optimum performance under nominal operations and attacks. The planner–attacker–defender model is adopted to develop decisions that minimize investment and operating costs, and functionality loss after attacks. The model bridges long-term system planning for transmission expansion and short-term switching operations in reaction to attacks. The mixed-integer optimization is solved by decomposition via two-layer cutting plane algorithm. Numerical results on an IEEE system shows that small investments in transmission line switching enhance resilience by responding to disruptions via system reconfiguration. Sensitivity analyses show that transmission planning under the assumption of small-scale attacks provides the most robust strategy, i.e. the minimum-regret planning, if many constraints and limited investment budget affect the planning. On the other hand, the assumption of large-scale attacks provides the most robust strategy if the planning process involves large flexibility and budget. - Highlights: • Investment optimization in power systems under attacks is presented. • Capacity expansion and switch installation for system reconfiguration are combined. • The problem is solved by decomposition via two-layer cutting plane algorithm. • Small investments in switch installation enhance resilience by response to attacks. • Sensitivity analyses identify robust planning against different attack scenarios.

RUSSIAN INDUSTRY INVESTMENT SITUATION

Directory of Open Access Journals (Sweden)

O. V. Pochukaeva

2011-01-01

Full Text Available The actual deficiency of investment into Russian industry innovative development increases its technological drag from industries of countries with developed markets. Although the rate of investment into real sectors of Russian economics mid 2000 was higher compared to the previous period, annual investment amounts were much lower than in 1990. At present, highest investment amounts are directed to industry extractive branches and to the commerce. Amounts invested to various economy branches do not correspond to their contribution to the country’sGross Added Product; particularly underinvested are manufacturing industry branches. At present, foreign share in the country economy total investment makes 15–18%. Recently, most interesting for foreigners was investment to machine-building branches with overwhelming part (for example, 90% in 2007–2008 of foreign investment into the machine-building industry being directed to creation of new automobile plants. Today, first place in the list of foreign investors’ preferences in Russia is taken by the machine-tool construction sector.

Stimulating Investments in Energy Efficiency Through Supply Chain Integration

Directory of Open Access Journals (Sweden)

Beatrice Marchi

2018-04-01

Full Text Available Attention to energy efficiency is recently experiencing substantial growth. To overcome the several barriers currently existing that represent an obstacle to the successful implementation of the wide set of energy efficiency measures available, the cooperation among members of a supply chain offers a huge potential. In supply chains, in addition to the traditional coordination of the operations, the members may also share financial resources or act jointly on the capital market. This study presents a two-stage supply chain model considering the opportunity to invest in new energy efficient technologies which are affected by learning effects: the member of the supply chain with better energy performance and/or better financial conditions may find it more profitable to invest in the development of the energy efficiency of its partner. The objective of the model is to determine the optimal investment for each supply chain member so as to maximize the Net Present Value of the supply chain. The impacts of the proposed joint decision-making are investigated through some numerical analysis and managerial insights are proposed: the joint decision-making process on the financial flows for the energy efficiency investments results are especially advantageous (up to a 20% increase of the supply chain Net Present Value when members have different access to capital, which could be the result of different economic conditions in companies’ countries, as well as different credit policies or different credit ratings.

Investment and uncertainty

DEFF Research Database (Denmark)

Greasley, David; Madsen, Jakob B.

2006-01-01

A severe collapse of fixed capital formation distinguished the onset of the Great Depression from other investment downturns between the world wars. Using a model estimated for the years 1890-2000, we show that the expected profitability of capital measured by Tobin's q, and the uncertainty...... surrounding expected profits indicated by share price volatility, were the chief influences on investment levels, and that heightened share price volatility played the dominant role in the crucial investment collapse in 1930. Investment did not simply follow the downward course of income at the onset...

Investment, managerial capacity, and bias in public health preparedness.

Science.gov (United States)

Langabeer, James R; DelliFraine, Jami L; Tyson, Sandra; Emert, Jamie M; Herbold, John

2009-01-01

Nearly $7 billion has been invested through national cooperative funding since 2002 to strengthen state and local response capacity. Yet, very little outcome evidence exists to analyze funding effectiveness. The objective of this research is to analyze the relationship between investment (funding) and capacity (readiness) for public health preparedness (PHP). The aim of the authors is to use a management framework to evaluate capacity, and to explore the "immediacy bias" impact on investment stability. This study employs a longitudinal study design, incorporating survey research of the entire population of 68 health departments in the state of Texas. The authors assessed the investment-capacity relationship through several statistical methods. The authors created a structural measure of managerial capacity through principal components analysis, factorizing 10 independent variables and augment this with a perceived readiness level reported from PHP managers. The authors then employ analysis of variance, correlation analyses, and other descriptive statistics. There has been a 539 percent coefficient of variation in funding at the local level between the years 2004 and 2008, and a 63 percent reduction in total resources since the peak of funding, using paired sample data. Results suggest that investment is positively associated with readiness and managerial capacity in local health departments. The authors also find that investment was related to greater community collaboration, higher adoption of Incident Command System (ICS) structure, and more frequent operational drills and exercises. Greater investment is associated with higher levels of capacity and readiness. The authors conclude from this that investment should be stabilized and continued, and not be influenced by historical cognitive biases.

Determinants of Discretionary Investments

Directory of Open Access Journals (Sweden)

K. S. Sujit

2016-03-01

Full Text Available Theoretical and empirical studies have focused on discretionary investments such as research and development (R&D and advertisement as value-creating activities. This empirical research article examines the determinants of the discretionary investment policy of food sector firms in India. The study aims to analyze the impact of financial policies and firm characteristics on the discretionary investment strategy of the food industry firms. The article uses the partial least squares structural equation modeling (PLS-SEM to understand the drivers of discretionary investment policy of food sector firms. The study finds that investment policy of firms is a major determinant of profitability of food sector firms. Higher investments in capital expenditures and working capital result in higher profitability. Management efficiency significantly influences firm profitability. The results suggest that riskier firms in food sector might focus on R&D investments as a strategy to generate more cash flows. Size of firm is negatively related to R&D intensity. Smaller firms in food sector tend to invest more in R&D. The study does not provide evidence to suggest that profitable firms invest more in R&D activities.

17 CFR 270.17f-2 - Custody of investments by registered management investment company.

Science.gov (United States)

2010-04-01

... registered management investment company. 270.17f-2 Section 270.17f-2 Commodity and Securities Exchanges....17f-2 Custody of investments by registered management investment company. (a) The securities and similar investments of a registered management investment company may be maintained in the custody of such...

77 FR 37406 - Sunshine Act; Notice of Meeting

Science.gov (United States)

2012-06-21

... FEDERAL RETIREMENT THRIFT INVESTMENT BOARD MEETING Sunshine Act; Notice of Meeting TIME AND DATE... Considered Parts Open to the Public 1. Approval of the Minutes of the May 21, 2012 Board Member Meeting... Thrift Advisory Council Meeting. 3. Thrift Savings Plan Activity Report by the Executive Director. a...

Management practices in Australasian ethical investment products: a role for regulation?

DEFF Research Database (Denmark)

Haigh, Matthew; Guthrie, James

2010-01-01

This paper adds to the literatures on socially responsible investment (SRI), investment management, regulation of financial services and social accounting by providing a comprehensive survey of investment methods used in SRI products and regulated social reporting in financial services. Australian...... a four-year period: 2004-2007. These aspects were further examined in 18 case studies. Over the period, diversity and intensity of construction methods had increased both within and between investment managers. The non-standard nature of management consultation used in SRI products, marketing needs...... debates and other public reports. Portfolio construction styles of 86 SRI products managed by 63 financial institutions in Australia and New Zealand were chosen for analysis. Statistical analysis was conducted to identify associations between styles, construction methods and assessment techniques over...

Identifying ecosystem service hotspots for targeting land degradation neutrality investments in south-eastern Africa

NARCIS (Netherlands)

Willemen, Louise; Crossman, Neville D.; Quatrini, Simone; Egoh, Benis; Kalaba, Felix K.; Mbilinyi, Boniface; de Groot, Rudolf

2017-01-01

Land degradation response actions need motivated stakeholders and investments to improve land management. In this study we present methods to prioritise locations for degradation mitigation investments based on stakeholder preferences for ecosystem services. We combine participatory and spatial

Comparison of Portfolio Selection and Performance: Shari’ah-Compliant and Socially Responsible Investment Portfolios

Directory of Open Access Journals (Sweden)

Mehmet Asutay

2015-04-01

Full Text Available This study examines the effect of Islamic screening criteria on Shari’ah-compliant portfolio selection and performance compared to Socially Responsible Investment (SRI portfolio. Each portfolio constructed from 15 stocks based on FTSE 100 using data from year 1997. Mean-variance portfolio optimization is employed with some financial ratios added as constraints for the Shari’ah portfolio. Annual expected return of each portfolio from 2008 to 2013 is used to calculate Sharpe’s ratio, Treynor ratio and Jensen’s alpha as the performance measurement tools. Macroeconomic variables are assessed using ordinary least square to examine whether they influence the portfolios’ expected returns or not. The result finds that Shari’ah portfolio has a better performance than SRI from year 2008 to 2010 shown by higher value of the measurement tools. However, from 2011 to 2013, SRI portfolio has better performance than Shari’ah portfolio. 

Designing regulatory frameworks for merchant transmission investments by real options analysis

International Nuclear Information System (INIS)

Pringles, Rolando; Olsina, Fernando; Garcés, Francisco

2014-01-01

In deregulated electricity markets, the transmission network is a key infrastructure for enabling competition in the generation sector. A deficient expansion of the transmission grid prevents the realization of the benefits in terms of efficiency associated with market mechanisms. Consequently, it is essential to provide clear investment policies and economic signals to attract timely and efficient transmission investments in order to develop the system at minimum cost meeting the requirements of generators and consumers, while keeping adequate levels of service quality and reliability. This paper proposes a modern tool of economic evaluation based on real options analysis that provides the regulator the ability to assess various incentives that would lead transmission investors to make efficient decisions in highly uncertain environments. Real options properly values partially irreversible investment decisions, such as to defer, modify or abandon an investment project in response to the arrival of new information or as uncertainties are resolved. Decisions are evaluated from the point of view of a transmission investor trying to maximize its own profits in the time period set to recover the capital invested. The results allow the study of the behavior of transmission investors regarding their decision making when they have the possibility to manage the option to defer, under different regulatory schemes that encourage the expansion of the transmission system. - Highlights: • Regulatory frameworks for efficient and timely transmission expansions are designed. • Irreversibility and uncertainty of transmission investment is properly accounted for. • Response of network investors to regulatory incentives is quantitatively established

Identifying ecosystem service hotspots for targeting land degradation neutrality investments in south-eastern Africa

NARCIS (Netherlands)

Willemen, Louise; Crossman, Neville D.; Quatrini, Simone; Egoh, Benis; Kalaba, Felix K.; Mbilinyi, Boniface; Groot, de Dolf

2017-01-01

Land degradation response actions need motivated stakeholders and investments to improve land management. In this study we present methods to prioritise locations for degradation mitigation investments based on stakeholder preferences for ecosystem services. We combine participatory and spatial

Optimizing investments in coupled offshore wind -electrolytic hydrogen storage systems in Denmark

DEFF Research Database (Denmark)

Hou, Peng; Enevoldsen, Peter; Eichman, Joshua

2017-01-01

, electrolyzers, and hydrogen fuel cells is explored. This research reveals the investment potential of coupling offshore wind farms with different hydrogen systems. The benefits in terms of a return on investment are demonstrated with data from the Danish electricity markets. This research also investigates......In response to electricity markets with growing levels of wind energy production and varying electricity prices, this research examines incentives for investments in integrated renewable energy power systems. A strategy for using optimization methods for a power system consisting of wind turbines...

75 FR 1009 - Sunshine Act Meeting Notice

Science.gov (United States)

2010-01-07

...-002, to hear oral argument in an appeal by Diane M. Keefe (``Keefe''), a former employee of Pax World... administrative law judge. The law judge found that Keefe, a portfolio manager of the Pax World High Yield Fund... violated Section 34(b) of the Investment Company Act of 1940. The law judge suspended Keefe for twelve...

Citizen investments in the energy policy turnaround; Buergerinvestitionen in die Energiewende

Energy Technology Data Exchange (ETDEWEB)

NONE

2012-07-01

The recently recognisable economical and political developments are characterized by an enormous diversity of simultaneously acting processes. These processes challenge the design and balancing attendance of a complex and intense restructuring. Under this aspect, the brochure under consideration presents the following contributions: (1) Energy policy turnaround, investments by citizens and regional development (Peter Jakubowski); (2) Importance of decentralized participation processes for the acceptance of the development of renewable energies. An environmental psychological consideration (Jan Hildebrand); (3) Advantages of cooperative solutions in the energy policy turnaround (Wolfgang George); (4) Significance and potential of energy cooperatives in Germany. An empiric analysis (Richard Volz); (5) Sustainable investment in the energy policy turnaround with the participation of banks and saving banks (Uwe Greff); (6) Financial participation by citizens. Examples of good practice for investment products such as climate savings certificates, subordinated loans or silent participations (Katrin Gehles); (7) The Jurenergie eG: A citizen energy association on a successful course (Vera Ptacek); (8) Regional value creation effects of different organisational forms in respect of the power generation from biomass (Reinhold Kosfeld).

Minimal investment risk of a portfolio optimization problem with budget and investment concentration constraints

Science.gov (United States)

Shinzato, Takashi

2017-02-01

In the present paper, the minimal investment risk for a portfolio optimization problem with imposed budget and investment concentration constraints is considered using replica analysis. Since the minimal investment risk is influenced by the investment concentration constraint (as well as the budget constraint), it is intuitive that the minimal investment risk for the problem with an investment concentration constraint can be larger than that without the constraint (that is, with only the budget constraint). Moreover, a numerical experiment shows the effectiveness of our proposed analysis. In contrast, the standard operations research approach failed to identify accurately the minimal investment risk of the portfolio optimization problem.

5 CFR 2606.106 - OGE employee Privacy Act rules of conduct and responsibilities.

Science.gov (United States)

2010-01-01

... 5 Administrative Personnel 3 2010-01-01 2010-01-01 false OGE employee Privacy Act rules of conduct and responsibilities. 2606.106 Section 2606.106 Administrative Personnel OFFICE OF GOVERNMENT ETHICS... requirement to inform each individual asked to supply information to be maintained in a system of records the...

Obligation of the host state to act transparently towards the foreign investor

Directory of Open Access Journals (Sweden)

Đundić Petar M.

2016-01-01

Full Text Available Provisions on obligation of a host state to act transparently towards foreign investors increasingly often find their way into bilateral investment treaties. Their goal is to provide the investor with all information concerning the investment's legal framework and which he needs in order to make an informed decision with regard to his investment. Certain provisions on transparency are so broad in their scope that they demand from the host state to provide an investor with a possibility to participate in the process of adoption of a state measure that could affect his interest. On the other hand, in arbitral practice the obligation to act transparently is traditionally seen as one of the elements of the fair and equitable treatment standard, although the practice has not so far provided a clear answer as to what is the exact role of this element and what is its relationship with other elements of the standard. The paper contains an analysis of transparency provisions from bilateral investment treaties concluded by the Republic of Serbia. The second part of the paper is dedicated to analysis of arbitral awards in which tribunals considered the transparency obligation as a part of the fair and equitable treatment standard.

Environmental, Social and Governance (ESG and Investment Decision in Bangladesh

Directory of Open Access Journals (Sweden)

Sayema Sultana

2018-06-01

Full Text Available As a key facet of sustainable development, environmental, social and governance (ESG discretion on stock market investment decision is gaining prevalence following the global financial crisis. ESG considers the sustainable return, risk reduction, and accountability aspects of investments. This study is an exploration of the individual stock market investors’ preferences for ESG issues and the influence that purpose of investment has on investment decision-making, by testing the investment horizon as a moderator. The theoretical background was taken from the theory of planned behavior (TPB, goal setting theory (GST, and the behavioral asset pricing model (BAPM. The study uses the sequential mix method of research, starting with an interview followed by a survey, which was conducted among individual stock market investors in Bangladesh, using simple random sampling. Structural equation modeling (SEM analysis was carried out using Warp PLS version 6.0. The key findings of this study delineate the effect of ESG issues and the purpose of investment on investment decision-making. The contribution of the study signifies the moderating role of the investment horizon, which confirms the importance of the long-term horizon as a time and risk diversification factor. The sparse utilization of the United Nations Global Compact (UNGC (2004 and Thomson Reuters Corporate Responsibility Index (TRCRI (2013 as measurement scales in this study is mentioned. This study has made practical contributions for managers, investors, and regulators.

[Are investment activity and backlog in investments risks for university medicine in Germany?].

Science.gov (United States)

Amann, I; Heyder, R; Strehl, R

2009-08-01

University medicine in Germany requires significantly higher funding and investment because its tasks not only include health care but also research and teaching. However, over recent decades less and less funding compared to the development of the turnover has been available. This trend is due to decreasing public funding. The diminishing funding has caused a major backlog of investment at German university hospitals. The first part of the article summarizes the investments policies at university hospitals and other hospitals. The second part describes the investment needs in university medicine and exposes risk factors for research, education and health care due to the process of investment planning and realization. Goal-oriented solutions are shown to facilitate investments. The third part discusses several risks caused by insufficient investments in university medicine. There are special risks for research, teaching, and the capacity for innovation in university medicine besides economical and medical risks. Some policies and financial strategies to overcome the backlog in investments are presented. After a summary, the article concludes with some practical examples of further measures to ensure sustainable funding.

Reward acts as a signal to control delay-period activity in delayed-response tasks.

Science.gov (United States)

Ichihara-Takeda, Satoe; Takeda, Kazuyoshi; Funahashi, Shintaro

2010-03-31

Prefrontal delay-period activity represents a neural mechanism for the active maintenance of information and needs to be controlled by some signal to appropriately operate working memory. To examine whether reward-delivery acts as this signal, the effects of delay-period activity in response to unexpected reward-delivery were examined by analyzing single-neuron activity recorded in the primate dorsolateral prefrontal cortex. Among neurons that showed delay-period activity, 34% showed inhibition of this activity in response to unexpected reward-delivery. The delay-period activity of these neurons was affected by the expectation of reward-delivery. The strength of the reward signal in controlling the delay-period activity is related to the strength of the effect of reward information on the delay-period activity. These results indicate that reward-delivery acts as a signal to control delay-period activity.

The effect of political cycles on power investment decisions: Expectations over the repeal and reinstatement of carbon policy mechanisms in Australia

International Nuclear Information System (INIS)

ShahNazari, Mahdi; McHugh, Adam; Maybee, Bryan; Whale, Jonathan

2014-01-01

Highlights: • Effect of political cycles quantified in power generation investments. • Expected repeal and reinstatement of carbon policy modelled dynamically. • A survey of experts informed the decision making model. • Expectations over reinstatement of policy dampens the effect of expected repeal. - Abstract: Political uncertainty over global greenhouse gas (GHG) mitigation policy is likely to defer investment in cleaner technologies. It may also incentivise short-lived, high-cost interim investments while businesses wait for the uncertainty to subside. The range of possible policy responses to the issue has created uncertainty over the future of national mitigation pathways. Given that the electricity sector, globally, is a major emitter of GHGs, this represents a systematic risk to investment in electricity generation assets. This paper uses a real options analysis framework informed by a survey of experts conducted in Australia – used as a proxy to model the degree of the uncertainty – to investigate the optimal timing for investment in the conversion of a coal plant to a combined cycle gas turbine plant using the American-style option valuation method. The effect of market and political uncertainty is studied for the Clean Energy Act 2011 in Australia. Political uncertainty is addressed bi-modally in terms of: (1) uncertainty over the repeal of the carbon pricing policy, and (2) if it is repealed, uncertainty over the reinstatement of the policy, to represent the effect of electoral cycles and the possibility of more stringent future global mitigation efforts. Results of the analysis show that although political uncertainty with respect to GHG mitigation policy may delay investment in the conversion of the coal plant, expectations over the reinstatement of the carbon pricing reduces the amount of option premium to defer the conversion decision

Investments into plant replacements in a deregulated electricity market

International Nuclear Information System (INIS)

Elsaesser, R.F.

2004-01-01

The amendment to the Power Energy Act in April 1998 marked the complete deregulation of the electricity market in Germany. The debate is now beginning about ways and means to ensure new capital investments safeguarding the continuity of supply. The present power plant park has been characterized by a broad mix of primary energy sources and, admittedly, by some overcapacity as well. However, any further reduction of generating capacity will be at the expense of the continuity of supply. Although electricity prices in Germany are on the rise again after a clear drop, they have not yet reached a level sufficient for new investments. Only subsidized power plants are recovering their full costs. The question is for how long our economy is going to sustain this state of affairs. The balance among the energy policy goals of continuity of supply, environmental performance, and economic efficiency has been upset. In the period up until 2020, Germany alone will require approx. 37,000 MW of new generating capacity. Renewable and decentralized technologies alone do not constitute a sufficient and reliable alternative. However, there is the matter also of the practical feasibility of building the new power plants required. No experience is as yet available with re-investment cycles in the deregulated electricity market. Options are needed for a diversified structure of primary energy sources. There must be neither political definition of generating technologies nor exaggerated goals of environmental protection and climate protection. We advocate the free system of market prices and free access to the market. Major players able to guarantee sufficient security of investments are needed to cope with the challenges ahead. New investments with a life of thirty to forty years require a modicum of stability and realism in political framework conditions. (orig.)

Foreign direct investment vs domestic investment across the European Union. Case study: Romania

Directory of Open Access Journals (Sweden)

Romeo Victor IONESCU

2015-11-01

Full Text Available The paper deals with the idea that investment process is important not only for the economic growth, but for the global integration. There is a powerful connection between FDI and domestic investments. As a result, the analysis is focused on FDI flows in EU28 and Euro area. The comparative analysis is followed by regression, in order to point out the disparities between Member States and their trend. The average value of inward and outward FDI flows is analysed using FDI intensity. A distinct part of the paper is focused on domestic investment process and analyses total investment, investment in construction and investment in equipment. The analysis is supported by the latest official statistical data, pertinent diagrams and tables. The main conclusion of the paper is that the economic crisis in Europe led to a decrease in FDI and domestic investment flows.

Impact Of Retirement Benefit Act (RBA) On Investment Returns To Pension Funds In Kenya

OpenAIRE

Lucy Jepchoge Rono; Julius Kibet Bitok; Gordon N Asamoah

2010-01-01

This study focused on the analysis of the impact of RBA guidelines on the return on investments of both pension funds under management and those for pension schemes. A random sample of 175 fund trustees and a census of 13 fund managers from registered fund management companies participated in the survey. The questionnaire was administered through the drop-and-pick method. Data were analyzed using SPSS (Statistical Package for Social Sciences) and summarized in descriptive statistics, such as ...

Directors’ board, R&D investment and the firm’s performance: Evidence from the French case

Directory of Open Access Journals (Sweden)

Zouari Ghazi

2014-07-01

Full Text Available This research paper examines the relationship between the board of directors and the firm’s performance from the angle of the R&D investment level in the French context and from some perspectives of corporate governance. Our model seeks to show if the R&D investment level acts as a mediating variable between, on the one hand, the dominance of outside directors, the dual structure and the size of the board, and on the other hand, the performance. This empirical study is based on a sample of 178 French firms for the period 2008-2012. The results of the linear regressions conducted show that the relationships between the variables linked to the composition of the board and the firm’s performance are meditated by the firm’s R&D investment level.

Initial Northwest Power Act Power Sales Contracts : Final Environmental Impact Statement. Volume 4, Comments and Responses.

Energy Technology Data Exchange (ETDEWEB)

United States. Bonneville Power Administration.

1992-01-01

This volume of the Initial Northwest Power Act Power Sales Contracts Final Environmental Impact Statement (Final EIS) contains public comments addressing the Initial Northwest Power Act Power Sales Contracts Draft EIS, August 1990 and Bonneville Power Administration`s (BPA) responses. The Introduction provides information about the process BPA follows in addressing these comments. Part I contains a listing of the Alternative Actions evaluated in the Final EIS; Part II is organized by Alternatives and includes summaries of the comments and BPA responses; Part III provides copies of the original comments letters, and, for ease of identification, are coded in the margins according to the alternative(s) addressed.

76 FR 15057 - Notice of Proposed Exemption; BlackRock, Inc. and Its Investment Advisory, Investment Management...

Science.gov (United States)

2011-03-18

... Administration Notice of Proposed Exemption; BlackRock, Inc. and Its Investment Advisory, Investment Management...; BlackRock, Inc. and Its Investment Advisory, Investment Management and Broker-Dealer Affiliates and... its investment advisory, investment management and broker-dealer affiliates and their successors. The...

The investment challenges facing the oil and gas industry

International Nuclear Information System (INIS)

Suellentrop, Steve

1998-01-01

In considering the potential of the United Kingdom for investment in the oil and gas industry, four factors are discussed. They are: the importance of certainty in identifying markets; the importance of infrastructure in assisting follow-on developments in mature oil and gas fields; the UK's competitive position in the world investment market; fiscal terms in the UK as compared with those offered by other countries. The conclusion drawn is that the UK needs to be responsive to its status as a mature oil and gas area and have the flexibility to stimulate investment in frontier areas. Stability in both the fiscal regime and also handling issues like market access is important. There is a need to capitalise on the many advantages conferred by the existing infrastructure in mature areas. (UK)

Invest in adolescents and young people: it pays.

Science.gov (United States)

Chandra-Mouli, Venkatraman; Greifinger, Rena; Nwosu, Adaeze; Hainsworth, Gwyn; Sundaram, Lakshmi; Hadi, Sheena; McConville, Fran; Benevides, Regina; Simon, Callie; Patkar, Archana; Schoening, Eva; Sethi, Disha; Boldosser-Boesch, Amy; Awasthi, Prateek; Mathur, Arvind; Braeken, Doortje

2013-09-16

This year's Women Deliver conference made a strong call for investing in the health and development of adolescents and young people. It highlighted the unique problems faced by adolescent girls and young women-some of the most vulnerable and neglected individuals in the world-and stressed the importance of addressing their needs and rights, not only for their individual benefit, but also to achieve global goals such as reducing maternal mortality and HIV infection.In response to an invitation from the editors of Reproductive Health, we-the sixteen coauthors of this commentary-put together key themes that reverberated throughout the conference, on the health and development needs of adolescents and young people, and promising solutions to meet them.1. Investing in adolescents and young people is crucial for ensuring health, creating prosperity and fulfilling human rights.2. Gender inequality contributes to many health and social problems. Adolescent girls and boys, and their families and communities, should be challenged and supported to change inequitable gender norms.- Child marriage utterly disempowers girls. It is one of the most devastating manifestations of gender discrimination.- Negative social and cultural attitudes towards menstruation constrain the lives of millions of girls. This may well establish the foundation for lifelong discomfort felt by girls about their bodies and reticence in seeking help when problems arise.3. Adolescents need comprehensive, accurate and developmentally appropriate sexuality education. This will provide the bedrock for attitude formation and decision making.4. Adolescent-centered health services can prevent sexual and reproductive health problems and detect and treat them if and when they occur.5. National governments have the authority and the responsibility to address social and cultural barriers to the provision of sexual and reproductive health education and services for adolescents and young people.6. Adolescents should

The German act on the reorganisation of responsibility in nuclear waste management

International Nuclear Information System (INIS)

Raetzke, Christian

2017-01-01

The author discussed the Draft on the Act in the Reorganisation of Responsibility in Nuclear Waste Management in atw 12 (2016). Now, amendments are discussed, which resulted from the legislative procedure until today's draft. Significant additions affect the authorisation for the conclusion of a public-law contract between the Federal Government and the nuclear power plant operators, the deadline for the payment of the basic amount, and the option for the operation of the interim storage facilities for a transitional period by the operators on behalf of the federal company. Since the adoption of the draft act, it has become clear that the nuclear power plant operators will pay the risk premium. This will fulfil the full logic of the new system. It has also become known, that the public law contract is now ready for signing. According to the author, the act will bring a final arrangement for financing nuclear waste disposal. However, adjustment can not be avoided in practice. The concrete implementation will be a exciting topic in many ways.

Action Investment Energy Games

DEFF Research Database (Denmark)

Larsen, Kim Guldstrand; Laursen, Simon; Srba, Jiri

2012-01-01

We introduce the formalism of action investment energy games where we study the trade-off between investments limited by given budgets and resource constrained (energy) behavior of the underlying system. More specifically, we consider energy games extended with costs of enabling actions and fixed...... budgets for each player. We ask the question whether for any Player 2 investment there exists a Player 1 investment such that Player 1 wins the resulting energy game. We study the action investment energy game for energy intervals with both upper and lower bounds, and with a lower bound only, and give...

Investing in the Future: Automation Marketplace 2009

Science.gov (United States)

Breeding, Marshall

2009-01-01

In a year where the general economy presented enormous challenges, libraries continued to make investments in automation, especially in products that help improve what and how they deliver to their end users. Access to electronic content remains a key driver. In response to anticipated needs for new approaches to library automation, many companies…

Federal Investment

Science.gov (United States)

Campbell, Sheila; Tawil, Natalie

2013-01-01

The federal government pays for a wide range of goods and services that are expected to be useful some years in the future. Those purchases, called investment, fall into three categories: physical capital, research and development (R&D), and education and training. There are several economic rationales for federal investment. It can provide…

Baby Steps: Learn the Signs. Act Early.

Centers for Disease Control (CDC) Podcasts

2008-09-22

CDC recognized the impact of developmental disabilities and invested in a campaign to help parents measure their children's progress by monitoring how they play, learn, speak, and act. .  Created: 9/22/2008 by National Center on Birth Defects and Developmental Disabilities, Division of Human Development and Disability, Child Development Studies Team.   Date Released: 9/23/2008.

Investment in flood protection measures under climate change uncertainty. An investment decision

Energy Technology Data Exchange (ETDEWEB)

Bruin, Karianne de

2012-11-01

Recent river flooding in Europe has triggered debates among scientists and policymakers on future projections of flood frequency and the need for adaptive investments, such as flood protection measures. Because there exists uncertainty about the impact of climate change of flood risk, such investments require a careful analysis of expected benefits and costs. The objective of this paper is to show how climate change uncertainty affects the decision to invest in flood protection measures. We develop a model that simulates optimal decision making in flood protection, it incorporates flexible timing of investment decisions and scientific uncertainty on the extent of climate change impacts. This model allows decision-makers to cope with the uncertain impacts of climate change on the frequency and damage of river flood events and minimises the risk of under- or over-investment. One of the innovative elements is that we explicitly distinguish between structural and non-structural flood protection measures. Our results show that the optimal investment decision today depends strongly on the cost structure of the adaptation measures and the discount rate, especially the ratio of fixed and weighted annual costs of the measures. A higher level of annual flood damage and later resolution of uncertainty in time increases the optimal investment. Furthermore, the optimal investment decision today is influenced by the possibility of the decision-maker to adjust his decision at a future moment in time.(auth)

Derailed locomotive? Petrobras investments and economic growth in Brazil

Directory of Open Access Journals (Sweden)

Raíssa Fernandes Yabiko

2018-01-01

Full Text Available Petrobras is the largest firm in Brazil and one of the largest in the world. Its investment plans are among the biggest in the oil and gas industry, focused in Brazil and on E&P. Petrobras is responsible for a large share of gross capital formation and gross domestic product (GDP growth in the country. The correlation between its investments and the country investment and GDP growth is above 0.8 and shows the dependency of the economy to Petrobras activity. At the same time, as a state enterprise it has been a tool of macroeconomic policy. In the 2010´s its gasoline and diesel prices were frozen to keep inflation down. The recent crisis in the company, including corruption scandals and oil price slump increased debt levels and reduced its capital expenditures. The sale of assets directive since 2016 is required to reduce its net debt. While a medium to long term survival strategy, the change in Petrobras’ investment profile may decrease the prospects of GDP growth in the Brazilian economy.

Analyzing the Investment Behaviour of Households at the Microlevel

Directory of Open Access Journals (Sweden)

Lepeyko Tetyana I.

2017-10-01

Full Text Available The article is aimed at analyzing the characteristics of the investment behaviour of households at the microlevel. Essence of the investment behavior of of households was considered, substantiating that it differs in relation to the social indicators of households as well as to their income and costs. In order to analyze the investment behavior of households at the microlevel, it was proposed to conduct an expert survey of economic agents (staff of enterprises, private entrepreneurs, etc.. Using the hierarchy analysis method, it has been substantiated that the most appropriate method for the selected criteria (minimizing the time and cost of the survey, improving the truthfulness and completeness of the responses is the anonymous respondent survey. To implement this method, a list of questions was proposed that would allow to analyze the social indicators of households, structure of their incomes and costs. On the basis of the survey conducted at the enterprises of Kharkiv region, the main prerequisites for a possible improvement of the microlevel investment behavior of households have been identified.

Optimal Technology Investment and Operation in Zero-Net-Energy Buildings with Demand Response

International Nuclear Information System (INIS)

Stadler, Michael; Siddiqui, Afzal; Marnay, Chris; Hirohisa, Aki; Lai, Judy

2009-01-01

The US Department of Energy has launched the Zero-Net-Energy (ZNE) Commercial Building Initiative (CBI) in order to develop commercial buildings that produce as much energy as they use. Its objective is to make these buildings marketable by 2025 such that they minimize their energy use through cutting-edge energy-efficient technologies and meet their remaining energy needs through on-site renewable energy generation. We examine how such buildings may be implemented within the context of a cost- or carbon-minimizing microgrid that is able to adopt and operate various technologies, such as photovoltaic (PV) on-site generation, heat exchangers, solar thermal collectors, absorption chillers, and passive/demand-response technologies. We use a mixed-integer linear program (MILP) that has a multi-criteria objective function: the minimization of a weighted average of the building's annual energy costs and carbon/CO2 emissions. The MILP's constraints ensure energy balance and capacity limits. In addition, constraining the building's energy consumed to equal its energy exports enables us to explore how energy sales and demand-response measures may enable compliance with the CBI. Using a nursing home in northern California and New York with existing tariff rates and technology data, we find that a ZNE building requires ample PV capacity installed to ensure electricity sales during the day. This is complemented by investment in energy-efficient combined heat and power equipment, while occasional demand response shaves energy consumption. A large amount of storage is also adopted, which may be impractical. Nevertheless, it shows the nature of the solutions and costs necessary to achieve ZNE. For comparison, we analyze a nursing home facility in New York to examine the effects of a flatter tariff structure and different load profiles. It has trouble reaching ZNE status and its load reductions as well as efficiency measures need to be more effective than those in the CA case

Wave loadings acting on Overtopping Breakwater for Energy Conversion

DEFF Research Database (Denmark)

Vicinanza, Diego; Nørgaard, Jørgen Harck; Contestabile, Pasquale

2013-01-01

distributions. Load measurements were compared with the most used prediction method for traditional breakwaters, available in the Coastal Engineering Manual (U.S. Army Corps of Engineers, 2002). These results suggest to use the experimental data as design loadings since the design criteria for the innovative......Any kind of Wave Energy Converter (WEC) requires information on reliability of technology and on time required for the return of the investment (reasonable payback). The structural response is one of the most important parameters to take in to account for a consistent assessment on innovative...... devices. This paper presents results on wave loading acting on an hybrid WEC named Overtopping BReakwater for Energy Conversion (OBREC). The new design is based on the concept of an integration between a traditional rubble mound breakwater and a front reservoir designed to store the wave overtopping from...

Multilateral negotiations in foreign investment

Directory of Open Access Journals (Sweden)

David Orlando Ruiz Castro

2016-04-01

Full Text Available Direct foreign investment is one of the most important economic variables in the world. Aspects related to international investment agreements are reaching an outstanding place in economic international diplomacy. Nowadays, in the multilateral level there is not an agreement regarding investment and therefore this study is focused on this particular type of agreement. In order to reach this objective this study shows, first of all, how different attempts have been developed to get a multicultural a agreement regarding investment, and to refuse the general opinion that says that exponential growth of foreign investment flows in recent years has given impulse to launch a multilateral investment agreement. Secondly, this study discusses about regulations related to foreign investment under current WTO regulations, such as investment, measure agreements, and service agreement. Then, it analyzes what has happened inside the WTO from the creation of the investment team at the Singapore Conference to the failed Conference in Cancun. Finally, it analyzes the main arguments against the multilateral agreement and the effects of future possible multilateral negotiations in investment and it ends with some recommendations and conclusions.

Integrating NEPA (National Environmental Policy Act) and CERCLA (Comprehensive Environmental Response, Compensation, and Liability Act) requirements during remedial responses at DOE facilities

Energy Technology Data Exchange (ETDEWEB)

Levine, M.B.; Smith, E.D.; Sharples, F.E.; Eddlemon, G.K.

1990-07-01

US Department of Energy (DOE) Order 5400.4, issued October 6, 1989, calls for integrating the requirements of the National Environmental Policy Act (NEPA) with those of the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) for DOE remedial actions under CERCLA. CERCLA requires that decisions on site remediation be made through a formal process called a Remedial Investigation/Feasibility Study (RI/FS). According to the DOE order, integration is to be accomplished by conducting the NEPA and CERCLA environmental planning and review procedures concurrently. The primary instrument for integrating the processes is to be the RI/FS process, which will be supplemented as needed to meet the procedural and documentational requirements of NEPA. The final product of the integrated process will be a single, integrated set of documents; namely, an RI report and an FS-EIS that satisfy the requirements of both NEPA and CERCLA. The contents of the report include (1) an overview and comparison of the requirements of the two processes; (2) descriptions of the major tasks included in the integrated RI/FS-EIS process; (3) recommended contents for integrated RI/FS-EIS documents; and (4)a discussion of some potential problems in integrating NEPA and CERCLA that fall outisde the scope of the RI/FS-EIS process, with suggestions for resolving some of these problems. 15 refs.

Integrating NEPA [National Environmental Policy Act] and CERCLA [Comprehensive Environmental Response, Compensation, and Liability Act] requirements during remedial responses at DOE facilities

International Nuclear Information System (INIS)

Levine, M.B.; Smith, E.D.; Sharples, F.E.; Eddlemon, G.K.

1990-07-01

US Department of Energy (DOE) Order 5400.4, issued October 6, 1989, calls for integrating the requirements of the National Environmental Policy Act (NEPA) with those of the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) for DOE remedial actions under CERCLA. CERCLA requires that decisions on site remediation be made through a formal process called a Remedial Investigation/Feasibility Study (RI/FS). According to the DOE order, integration is to be accomplished by conducting the NEPA and CERCLA environmental planning and review procedures concurrently. The primary instrument for integrating the processes is to be the RI/FS process, which will be supplemented as needed to meet the procedural and documentational requirements of NEPA. The final product of the integrated process will be a single, integrated set of documents; namely, an RI report and an FS-EIS that satisfy the requirements of both NEPA and CERCLA. The contents of the report include (1) an overview and comparison of the requirements of the two processes; (2) descriptions of the major tasks included in the integrated RI/FS-EIS process; (3) recommended contents for integrated RI/FS-EIS documents; and (4)a discussion of some potential problems in integrating NEPA and CERCLA that fall outisde the scope of the RI/FS-EIS process, with suggestions for resolving some of these problems. 15 refs

Investment in capital markets

OpenAIRE

Ledenyov, Dimitri O.; Ledenyov, Viktor O.

2017-01-01

Investment in Capital Markets creates a strategic vision on the financial capital investment in the capital markets with the aim to get an increased return premium in the short and long time periods. The book is written with a main goal to explain the pros and cons of the financial capital investment in the capital markets, discussing the sophisticated investment concepts and techniques in the simple understandable readable general format language. We would like to highlight the three interes...

Pension Fund Investment Policy

OpenAIRE

Zvi Bodie

1988-01-01

The purpose of this paper is to survey what is known about the investment policy of pension funds. Pension fund investment policy depends critically on the type of plan: defined contribution versus defined benefit. For defined contribution plans investment policy is not much different than it is for an individual deciding how to invest the money in an Individual Retirement Account (IRA). The guiding principle is efficient diversification, that is, achieving the maximum expected return for any...

American Recovery and Reinvestment Act of 2009: Final Report on Customer Acceptance, Retention, and Response to Time-Based Rates from Consumer Behavior Studies

Energy Technology Data Exchange (ETDEWEB)

Cappers, Peter [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States). Energy Analysis and Environmental Impacts Division; Scheer, Rich [Scheer Ventures LLC, Takoma Park, MD (United States)

2018-03-07

Time-based rate programs, enabled by utility investments in advanced metering infrastructure (AMI), are increasingly being considered by utilities as tools to reduce peak demand and enable customers to better manage consumption and costs. Under the Smart Grid Investment Grant Program (SGIG), the U.S. Department of Energy (DOE) partnered with several electric utilities to conduct consumer behavior studies (CBS). The goals involved applying randomized and controlled experimental designs for estimating customer responses more precisely and credibly to advance understanding of time-based rates and customer systems, and provide new information for improving program designs, implementation strategies, and evaluations. The intent was to produce more robust and credible analysis of impacts, costs, benefits, and lessons learned and assist utility and regulatory decision makers in evaluating investment opportunities involving time-based rates.

Optimal Regulation of Lumpy Investments

NARCIS (Netherlands)

Zwart, G.; Broer, D.P.

2012-01-01

When a monopolist has discretion over the timing of infrastructure investments, regulation of post-investment prices interferes with incentivizing socially optimal investment timing. In a model of regulated lumpy investment under uncertainty, we study regulation when the regulator can condition

76 FR 23810 - Public Safety and Homeland Security Bureau; Federal Advisory Committee Act; Emergency Response...

Science.gov (United States)

2011-04-28

... FEDERAL COMMUNICATIONS COMMISSION Public Safety and Homeland Security Bureau; Federal Advisory Committee Act; Emergency Response Interoperability Center Public Safety Advisory Committee Meeting AGENCY... Fullano, Associate Chief, Public Safety and Homeland Security Bureau, Federal Communications Commission...

An Information-Based Trade Off between Foreign Direct Investment and Foreign Portfolio Investment

OpenAIRE

Itay Goldstein; Assaf Razin

2005-01-01

The paper develops a model of foreign direct investments (FDI) and foreign portfolio investments (FPI).The model describes an information-based trade off between direct investments and portfolio investments. Direct investors are more informed about the fundamentals of their projects. This information enables them to manage their projects more efficiently. However, it also creates an asymmetric-information problem in case they need to sell their projects prematurely, and reduces the price they...

Exa mining The Measurement Methods of Investment Properties of Real Estate Investment Trusts According to Turkish Accounting Standard 40: Investment Properties Standard

Directory of Open Access Journals (Sweden)

Emine Çına Bal

2015-03-01

Full Text Available Recently, the real estate industry has developed rapidly in Turkey. As an investment tool,investment in real estate became essential. Within the framework of the Capital Markets Law, organized by the Capital Markets Board of Turkey real estate investment trusts, real estate, real estate-based projects, and real estate capital market instruments by investing in a portfolio management company operating in the specific type. In this study, measurement methods of investment properties after recogn 31 real estate investment trust companies that traded in Borsa Istanbul is analyzed in order to examine the effect of policy selection on return on equity, return on asset and market to book value ratio of the companies’ financial statements and disclosures by using the nonparametric test of Mann-Whitney U Test. Non-consolidated financial statements and disclosures for 2013 of 21 real estate investment trust companies is included to the examination. Results of the test that is individually applied for each ratio show that the effect of policy selection on the ratios is statistically insignificant.

Immunological investments reflect parasite abundance in island populations of Darwin's finches.

OpenAIRE

Lindström, Karin M.; Foufopoulos, Johannes; Pärn, Henrik; Wikelski, Martin

2004-01-01

The evolution of parasite resistance can be influenced by the abundance of parasites in the environment. However, it is yet unresolved whether vertebrates change their investment in immune function in response to variation in parasite abundance. Here, we compare parasite abundance in four populations of small ground finches (Geospiza fuliginosa) in the Galapagos archipelago. We predicted that populations exposed to high parasite loads should invest more in immune defence, or alternatively use...

Experimental evidence of population differences in reproductive investment conditional on environmental stochasticity

Energy Technology Data Exchange (ETDEWEB)

Gauthey, Zoé [INRA, UMR 1224, Ecologie Comportementale et Biologie des Populations de Poissons, Aquapôle, quartier Ibarron, 64310 Saint-Pée sur Nivelle (France); Univ Pau & Pays Adour, UMR 1224, Ecologie Comportementale et Biologie des Populations de Poissons, UFR Sciences et Techniques de la Côte Basque, Allée du parc Montaury, 64600 Anglet (France); Panserat, Stéphane [INRA, UR 107, Nutrition Metabolism Aquaculture, Aquapôle, 64310 Saint Pée sur Nivelle (France); Elosegi, Arturo [Faculty of Science and Technology, University of the Basque Country UPV/EHU, 48080 Bilbao (Spain); Herman, Alexandre [INRA, UR 107, Nutrition Metabolism Aquaculture, Aquapôle, 64310 Saint Pée sur Nivelle (France); Tentelier, Cédric [INRA, UMR 1224, Ecologie Comportementale et Biologie des Populations de Poissons, Aquapôle, quartier Ibarron, 64310 Saint-Pée sur Nivelle (France); Univ Pau & Pays Adour, UMR 1224, Ecologie Comportementale et Biologie des Populations de Poissons, UFR Sciences et Techniques de la Côte Basque, Allée du parc Montaury, 64600 Anglet (France); and others

2016-01-15

Environmental stochasticity is expected to shape life histories of species, wherein organisms subjected to strong environmental variation should display adaptive response by being able to tune their reproductive investment. For riverine ecosystems, climate models forecast an increase in the frequency and intensity of extreme events such as floods and droughts. The speed and the mechanisms by which organisms may adapt their reproductive investment are therefore of primary importance to understand how species will cope with such radical environmental changes. In the present study, we sampled spawners from two different populations of wild brown trout, originating from two environments with contrasting levels of flow stochasticity. We placed them in sympatry within an experimental channel during reproductive season. In one modality, water flow was maintained constant, whereas in another modality, water flow was highly variable. Reproductive investment of all individuals was monitored using weight and energetic plasma metabolite variation throughout the reproductive season. Only the populations originating from the most variable environment showed a plastic response to experimental manipulation of water flow, the females being able to reduce their weight variation (from 19.2% to 13.1%) and metabolites variations (from 84.2% to 18.6% for triglycerides for instance) under variable flow conditions. These results imply that mechanisms to cope with environmental stochasticity can differ between populations of the same species, where some populations can be plastic whereas other cannot. - Highlights: • We place two populations of brown trout under contrasting water flow for reproduction. • Energetic metabolite variation is used as a cue of reproductive investment. • In constant flow, both populations show the same reproductive investment. • In variable flow, only one of the populations modifies its reproductive investment. • Divergent evolution of reproductive

Experimental evidence of population differences in reproductive investment conditional on environmental stochasticity

International Nuclear Information System (INIS)

Gauthey, Zoé; Panserat, Stéphane; Elosegi, Arturo; Herman, Alexandre; Tentelier, Cédric

2016-01-01

Environmental stochasticity is expected to shape life histories of species, wherein organisms subjected to strong environmental variation should display adaptive response by being able to tune their reproductive investment. For riverine ecosystems, climate models forecast an increase in the frequency and intensity of extreme events such as floods and droughts. The speed and the mechanisms by which organisms may adapt their reproductive investment are therefore of primary importance to understand how species will cope with such radical environmental changes. In the present study, we sampled spawners from two different populations of wild brown trout, originating from two environments with contrasting levels of flow stochasticity. We placed them in sympatry within an experimental channel during reproductive season. In one modality, water flow was maintained constant, whereas in another modality, water flow was highly variable. Reproductive investment of all individuals was monitored using weight and energetic plasma metabolite variation throughout the reproductive season. Only the populations originating from the most variable environment showed a plastic response to experimental manipulation of water flow, the females being able to reduce their weight variation (from 19.2% to 13.1%) and metabolites variations (from 84.2% to 18.6% for triglycerides for instance) under variable flow conditions. These results imply that mechanisms to cope with environmental stochasticity can differ between populations of the same species, where some populations can be plastic whereas other cannot. - Highlights: • We place two populations of brown trout under contrasting water flow for reproduction. • Energetic metabolite variation is used as a cue of reproductive investment. • In constant flow, both populations show the same reproductive investment. • In variable flow, only one of the populations modifies its reproductive investment. • Divergent evolution of reproductive

Stock prices and business investment

OpenAIRE

Yaron Leitner

2007-01-01

Is there a link between the stock market and business investment? Empirical evidence indicates that there is. A firm tends to invest more when its stock price increases, and it tends to invest less when the price falls. In “Stock Prices and Business Investment,” Yaron Leitner discusses existing research that explains this relationship. One question under consideration is whether the stock market actually improves investment decisions.

INVESTMENT ATTRACTIVENESS OF ENTERPRISES

Directory of Open Access Journals (Sweden)

Nadiia Davydenko

2017-03-01

Full Text Available In the article the approaches to defining the essence of the concept of “investment attractiveness of enterprises” were analyzed. On the example of "Agrofirm Brusilov" depth analysis of the agricultural enterprises to evaluate of profitability, liquidity, solvency, financial stability, the timing of the return of invested funds and minimizing investment risks was conducted. To study methods of rating and system analysis were used. To justify the conditions of  increasing investment attractiveness farms method of scoring was used. It was established as a result of the use of integrated evaluation of the financial position one can see problem aspects of financial position of the company and develop measures to enhance liquidity, solvency, identify potential for raising the efficiency of company and prevention of financial crisis. The analysis of financial position showed that the management of the enterprise doesn’t  think  about  financial stability and solvency, does not understand the benefit of borrowed capital. Using research results in practice of agricultural enterprises allows us to give a real evaluation of investment attractiveness and justify ways to improve it. Key words: investments, investment attractiveness, potential business, financial position.

45 CFR 2508.8 - Who is responsible for establishing the Corporation's rules of conduct for Privacy Act compliance?

Science.gov (United States)

2010-10-01

... Corporation's rules of conduct for Privacy Act compliance? 2508.8 Section 2508.8 Public Welfare Regulations Relating to Public Welfare (Continued) CORPORATION FOR NATIONAL AND COMMUNITY SERVICE IMPLEMENTATION OF THE PRIVACY ACT OF 1974 § 2508.8 Who is responsible for establishing the Corporation's rules of conduct for...

Efficient pricing and investment in electricity markets with intermittent resources

International Nuclear Information System (INIS)

Chao, Hung-po

2011-01-01

Facing growing technological and environmental challenges, the electricity industry needs effective pricing mechanism to promote efficient risk management and investment decisions. In a restructured electricity market with competitive wholesale prices and traditionally regulated retail rates, however, there are technical and institutional barriers that prevent dynamic pricing with price responsive demand. In regions with limited energy storage capacity, intermittent renewable resources present special challenges. This could adversely affect the effectiveness of public policies causing inefficient investments in energy technologies. In this paper, we present an updated economic model of pricing and investment in restructured electricity market and use the model in a simulation study for an initial assessment of renewable energy strategy and alternative pricing mechanisms. A key objective of the study is to shed light on the policy issues so that effective decisions can be made to improve efficiency. - Highlights: → Renewable resources present special challenges in regions with limited energy storage capacity. → This paper presents an updated economic model of pricing and investment in restructured electricity market. → A simulation study assesses renewable energy strategy and alternative pricing mechanisms. → The study results inform policy decisions to improve efficient investments in energy technologies.

Are stricter investment rules contagious? Host country competition for foreign direct investment through international agreements

OpenAIRE

Neumayer, Eric; Nunnenkamp, Peter; Roy, Martin

2014-01-01

We argue that the trend toward international investment agreements (IIAs) with stricter investment rules is driven by competitive diffusion, namely defensive moves of developing countries concerned about foreign direct investment (FDI) diversion in favor of competing host countries. Accounting for spatial dependence in the formation of bilateral investment treaties (BITs) and preferential trade agreements (PTAs) that contain investment provisions, we find that the increase in agreements with ...

13 CFR 301.4 - Investment rates.

Science.gov (United States)

2010-01-01

... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Investment rates. 301.4 Section... ELIGIBILITY, INVESTMENT RATE AND PROPOSAL AND APPLICATION REQUIREMENTS Investment Rates and Matching Share Requirements § 301.4 Investment rates. (a) Minimum Investment Rate. There is no minimum Investment Rate for a...

How Fidelity invests in service professionals.

Science.gov (United States)

McColgan, E A

1997-01-01

If you're in the business of service delivery, investment in the training and development of your staff is one of the keys to your company's success. But what's the best way to design and implement your investment? In 1994, Fidelity Institutional Retirement Services Company (FIRSCo) needed to ensure that its rapidly expanding staff maintained the company's high levels of customer satisfaction. The solution, according to Ellyn McColgan, formerly an executive vice president of FIRSCo and now the president of Fidelity Investments Tax-Exempt Services Company, was to reach out to its service associates with a powerful new model for training and development called Service Delivery University. SDU is a virtual university with a content-based core curriculum and five colleges that focus on business concepts and skills. It is driven by three principles. First, all training must be directly aligned with the company's strategic and financial objectives and focused on customer needs. Second, service delivery is a profession and should be taught as such. And finally, professional development should be the primary responsibility of line managers rather than the human resources department. McColgan explains how FIRSCo overcame resistance to this sweeping change in employee education. (Time was one obstacle: each associate receives 80 hours of training per year.) In addition, the author discusses the fine art of measuring the success of a program like SDU. She finds that the company's investment has paid dividends to the staff, to the organization as a whole, and to FIRSCo's customers.

Innovation investment decisions: are post(transition economies different from the rest of the EU?

Directory of Open Access Journals (Sweden)

Ljiljana BOZIĆ

2017-12-01

Full Text Available The slow progress of innovation in transition economies is not related just to firms’ decision to invest in innovation activities. Rather, it is worth distinguishing between their decision to increase investment, reduce it, keep their investments at the same level or not invest in innovation activities at all. To understand these decisions we develop and estimate models for post-transition and developed European countries employing multinomial probit. The analysis relies on responses of 2580 firms from 11 post-transition countries and 4058 firms from 18 European countries collected by the Flash Eurobarometer 433 - Innobarometer 2016 survey. We have established that the firms’ decision making process in general is mostly related to previous innovation investment experience. In transition countries, the higher the percent of turnover invested in innovation, the lower the probability of an increase in the future. In the firms operating in developed economies, lower turnover from new products is related to the decision to decrease innovation investment in the future.

Finans/Invest

DEFF Research Database (Denmark)

Bechmann, Ken L.

2014-01-01

Som det vil være velkendt for de fleste læsere, så er der skiftedag på Finans/Invest. Således var Finans/Invest 8/13 det sidste nummer med Anders Grosen som redaktør, og nærværende nummer er det første med professor Ken L. Bechmann som redaktør. I denne første leder beskriver den nye redaktør lidt...... om hans syn på Finans/Invest og tidsskriftets store betydning for formidling af faglig viden inden for finansiering. Yderligere beskrives nogle af de mindre redaktionelle ændringer, som den nye redaktør har planlagt. Endelig indeholder lederen traditionen tro redaktørens refleksioner over og...

Foreign investment opportunities in the Venezuelan upstream industry

International Nuclear Information System (INIS)

Pradas, F.

1994-01-01

An overview is provided of the Venezuelan petroleum industry, and the advantages of Venezuela for petroleum industry investment are noted. Proven reserves of hydrocarbons consist of 64 billion bbl of oil and condensates, 3.7 trillion m 3 of natural gas, and some 270 billion bbl of recoverable oil from vast reserves of heavy oil and bitumen. Additional reserves of light and medium crude awaiting discovery are estimated at 40 billion bbl. The state petroleum company PDVSA plans to increase proven reserves and to raise oil production capacity from the present level of 2.8 million bbl/d to 4 million bbl/d. To achieve those increases, it is estimated that PDVSA will need to invest ca $40 billion by the year 2000, of which $28 billion will come from PDVSA's own resources. It is intended that the remainder of the investment will be from foreign enterprises as part of joint ventures. PDVSA already has experience with joint ventures in the refining and petrochemical sectors, and a PDVSA subsidiary, Lagoven, is conducting a natural gas export project with several foreign firms. Another subsidiary, Maraven, is engaging in the first of several ventures to exploit the extensive heavy oil resources of the Orinoco belt. Foreign firms are also acting as contractors to reactivate inactive oil fields. PDVSA also markets Orimulsion, a bitumen-based emulsion fuel which competes with coal as a boiler fuel, through its joint venture subsidiary BITOR

Essays on investing in stock and bond markets

NARCIS (Netherlands)

Kuiper, Ivo

2017-01-01

This Ph.D. thesis consists of three chapters about investing in stock and bond markets. The first chapter studies the financial market’s response to economic news as function of the economic environment by attributing the daily stock returns to its main drivers. The second chapter studies the cross

75 FR 9360 - Investment Advice-Participants and Beneficiaries

Science.gov (United States)

2010-03-02

... would permit an affiliate of a fiduciary adviser to establish economic incentives for either the... financial or economic incentives by an affiliate (or any other party) to a fiduciary adviser or any....408g-1(b)(4)(i), including responses to the following questions. What investment theories are generally...

Firm Decisions: Determinants of Investments

OpenAIRE

Ionescu Alexandra

2011-01-01

The investment decision is part of a companies’ investment strategy. Defined as a logical set of technical and economic information, the investment strategy determines the main objectives of the firm regarding its investments, based on studies, analysis and simulations. It also establishes the actions to be undertaken in order to achieve the objectives, methods of achieving them, sources of funding and resource allocation methods. Still, all these are influenced by several factors. The invest...

ATTRIBUTION OF CONDUCT TO A STATE-THE SUBJECTIVE ELEMENT OF THE INTERNATIONAL RESPONSIBILITY OT THE STATE FOR INTERNATIONALLY WRONGFUL ACTS

Directory of Open Access Journals (Sweden)

FELICIA MAXIM

2012-05-01

Full Text Available In order to establish responsibility of states for internationally wrongful act, two elements are identified. First, the conduct in question must be attributable to the State under international law. Secondly, for responsibility to attach to the act of the State, the conduct must constitute a breach of an international legal obligation in force for that State at that time. For particular conduct to be characterized as an internationally wrongful act, it must first be attributable to the State. The State is a real organized entity, a legal person with full authority to act under international law. But to recognize this is not to deny the elementary fact that the State cannot act of itself. States can act only by and through their agents and representatives. In determining what constitutes an organ of a State for the purposes of responsibility, the internal law and practice of each State are of prime importance. The structure of the State and the functions of its organs are not, in general, governed by international law. It is a matter for each State to decide how its administration is to be structured and which functions are to be assumed by government. But while the State remains free to determine its internal structure and functions through its own law and practice, international law has a distinct role. Conduct is thereby attributed to the State as a subject of international law and not as a subject of internal law. The State as a subject of international law is held responsible for the conduct of all the organs, instrumentalities and officials which form part of its organization and act in that capacity, whether or not they have separate legal personality under its internal law.

From Avoidance to Activism: The Responsible Investment Frameworks of the Norwegian Government Pension Fund Global, the New Zealand Superannuation Fund and California Public Employees’ Retirement System 2000 – 2016

OpenAIRE

Kristensen, Maren Diesen

2016-01-01

Socially responsible investing (SRI) has since the late 1990s, grown to become an important concept in the global financial industry. This growth has mainly been led by institutional investors, such as pension funds and sovereign wealth funds (SWFs) who, in the early 2000s, became aware of the necessity of behaving as real owners of companies and of adopting a long-term view of investing. As these investors started to embrace SRI, they steered the understanding of SRI away from the original e...

17 CFR 270.12d1-1 - Exemptions for investments in money market funds.

Science.gov (United States)

2010-04-01

...)(3) and 270.17e-1(d)(2), the payment of a commission, fee, or other remuneration to a broker shall be...) of the Act if: (1) The commission, fee, or other remuneration is paid in connection with the sale of... directors, the company's investment adviser performs the duties of the board of directors. [71 FR 36655...

31 CFR 537.208 - Holding of funds in interest-bearing accounts; investment and reinvestment.

Science.gov (United States)

2010-07-01

... under the Securities Exchange Act of 1934, provided the funds are invested in a money market fund or in... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Holding of funds in interest-bearing... held in instruments the maturity of which exceeds 180 days at the time the funds become subject to...

31 CFR 542.203 - Holding of funds in interest-bearing accounts; investment and reinvestment.

Science.gov (United States)

2010-07-01

... under the Securities Exchange Act of 1934, provided the funds are invested in a money market fund or in... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Holding of funds in interest-bearing... held in instruments the maturity of which exceeds 180 days at the time the funds become subject to...

31 CFR 597.203 - Holding of funds in interest-bearing accounts; investment and reinvestment.

Science.gov (United States)

2010-07-01

... under the Securities Exchange Act of 1934, provided the funds are invested in a money market fund or in... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Holding of funds in interest-bearing..., letters of credit, or instruments which cannot be negotiated for the purpose of placing the funds in a...

31 CFR 538.203 - Holding of funds in interest-bearing accounts; investment and reinvestment.

Science.gov (United States)

2010-07-01

... under the Securities Exchange Act of 1934, provided the funds are invested in a money market fund or in... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Holding of funds in interest-bearing... held in instruments the maturity of which exceeds 180 days at the time the funds become subject to...

American Recovery and Reinvestment Act of 2009. Interim Report on Customer Acceptance, Retention, and Response to Time-Based Rates from the Consumer Behavior Studies

Energy Technology Data Exchange (ETDEWEB)

Cappers, Peter [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Hans, Liesel [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Scheer, Richard [Scheer Ventures, Takoma Park, MD (United States)

2015-06-01

Time-based rate programs1, enabled by utility investments in advanced metering infrastructure (AMI), are increasingly being considered by utilities as tools to reduce peak demand and enable customers to better manage consumption and costs. There are several customer systems that are relatively new to the marketplace and have the potential for improving the effectiveness of these programs, including in-home displays (IHDs), programmable communicating thermostats (PCTs), and web portals. Policy and decision makers are interested in more information about customer acceptance, retention, and response before moving forward with expanded deployments of AMI-enabled new rates and technologies. Under the Smart Grid Investment Grant Program (SGIG), the U.S. Department of Energy (DOE) partnered with several utilities to conduct consumer behavior studies (CBS). The goals involved applying randomized and controlled experimental designs for estimating customer responses more precisely and credibly to advance understanding of time-based rates and customer systems, and provide new information for improving program designs, implementation strategies, and evaluations. The intent was to produce more robust and credible analysis of impacts, costs, benefits, and lessons learned and assist utility and regulatory decision makers in evaluating investment opportunities involving time-based rates. To help achieve these goals, DOE developed technical guidelines to help the CBS utilities estimate customer acceptance, retention, and response more precisely.

GLOBAL TRENDS OF ALTERNATIVE INVESTMENTS

Directory of Open Access Journals (Sweden)

Ivan LUCHIAN

2016-08-01

Full Text Available An alternative investment is an investment product other than the traditional investments of stocks, bonds, cash, or property. The term is a relatively loose one and includes tangible assets such as art, wine, antiques, coins, or stamps and some financial assets such as commodities, hedge funds, venture capital,and others. At the moment it was created a global industry opportunities for making investments in nontraditional form. The aim of this paper consists in demonstrating the possibilities of these investments. For this have been studied related main international markets, a fter then deducted world dominant trends. This article is concerned to present some details of alternative investments global market.

12 CFR 704.5 - Investments.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Investments. 704.5 Section 704.5 Banks and... § 704.5 Investments. (a) Policies. A corporate credit union must operate according to an investment... must address, at a minimum: (1) Appropriate tests and criteria for evaluating investments and...

3 CFR - Ensuring Responsible Spending of Recovery Act Funds

Science.gov (United States)

2010-01-01

... long-term public benefits by, for example, investing in technological advances in science and health to... protection, and other infrastructure that will provide long-term economic benefits; fostering energy..., aquarium, zoo, golf course, or swimming pool.” (b) In exercising their available discretion to commit...

Quantitative investment analysis

CERN Document Server

DeFusco, Richard

2007-01-01

In the "Second Edition" of "Quantitative Investment Analysis," financial experts Richard DeFusco, Dennis McLeavey, Jerald Pinto, and David Runkle outline the tools and techniques needed to understand and apply quantitative methods to today's investment process.

Power plants investment decision-making in consideration of investment risk

International Nuclear Information System (INIS)

Oda, Junichiro; Matsuhashi, Ryuji; Yoshida, Yoshikuni; Takashima, Ryuta

2005-01-01

In this paper, we consider the investment risk of nuclear power plants using the real options approach. It is essential that the Japanese society evaluate the investment risk, because nuclear power plants are facing definite uncertainty and Japanese governments intend to promote and assist nuclear power plants through subsidies and policy actions. We assumed that the wholesale market prices of electricity constitute the definite uncertainty and that the wholesale market prices follow the geometric Brownian motion with drift. Using the Bellman equation and a lattice framework, we evaluated the value of investment opportunity, the value of equipment, and the critical prices that are optimal prices to invest in a nuclear power plant in the finite time horizon. This analysis shows that higher volatility of the wholesale market prices would give power companies lower incentive to construct electric power plants, particularly capital-intensive power plants. In order to deliberate and hold the Japanese governments accountable for the economics of nuclear power plants, multifaceted evaluation is needed. (author)

Small streams, diverse sources: Who invests in renewable energy in Finland during the financial downturn?

International Nuclear Information System (INIS)

Heiskanen, Eva; Jalas, Mikko; Juntunen, Jouni K.; Nissilä, Heli

2017-01-01

This article addresses the investment gap in renewable energy sources identified by several authors. Examining the case of a country, Finland, which introduced policy measures to diversify its renewable energy portfolio, we analyse the development of investments in renewable heat and power in response to new policy measures and contextual factors during the downturn period 2009–2013. We investigate investor heterogeneity, i.e., the diversity of logics employed by different types of RES investors. In spite of a severe financial recession, we find an emergence of new sources of investment. Among these new investor types, we find diversity in investment drivers and available options. These include investors mobilized by the feed-in-tariff to seek profitable targets and investors such as real estate owners investing in heat pumps for their own use and benefiting from low interest rates. We find that the diversification of investors supports the diversification in RES sources, and brings in new investors undeterred by the financial downturn. Our findings imply that policy-makers should recognize that the responses to distinct incentives and pressures vary by investor types. This also means that a mix of policies is required to maximize the contribution of different sectors to filling the renewable energy investment gap. - Highlights: • Diversified policies prompt new types of investors and growth in renewable energy. • New investors have a range of motives with different expectations for returns. • New investments stem from a range of policies beyond energy policy. • Investor diversity contributes to steady overall investment across economic cycles. • A diverse mix of policy is needed to fill the renewable energy investment gap.

[Research on investing methods and mold cooling methods of the self-made investment for pure titanium castings].

Science.gov (United States)

Zhao, Juan; Huang, Xu; Zhao, Yun-Feng; Xiao, Mao-Chun; Li, Yong

2006-10-01

To observe the influence of different investing methods and mold cooling methods on pure titanium castings invested in the self-made investment, and to provide theoretic base for the development for the investment. The influence of investing methods (one-step investing method and two-step investing method) on castability and crown fit of titanium castings were investigated, and the influence of cooling methods on reaction layers, mechanical properties and crown fit of titanium castings were investigated. Both the investing methods exhibited good castability, but only the titanium full crowns by one-step investing method showed clinically acceptable fit. Although the quenching group showed thinner reaction layer(100 microm), lower strength and similar elongation rate, the titanium castings by bench cooling showed clinically acceptable full crown fit with 115 microm thick reaction layer as cast. The one-step investing method and the bench cooling are recommended for the self-made investment.

Massive public investment needed to grow green economy.

Science.gov (United States)

2009-01-01

The President of the Communications Workers of America, Larry Cohen, urges large-scale investments in research and technology in response to economic turmoil and climate change. He envisions one million made-in-America hybrid cars running on U.S. roadways by 2015 and use of alternative energy doubling within three years.

Global energy - investment requirements. A presentation of the world energy investments outlook 2003 - insights

International Nuclear Information System (INIS)

Cattier, F.

2003-01-01

In order to meet the World's energy requirements for the next 30 years, 16 000 billion dollars will be necessary. Some 60% of this investment will go to the electricity sector and almost half of the total investment must be made in the developing countries. Where fossil fuels are concerned the bulk of the investments will a devoted to exploration and development activities. Transportation and distribution will account for 54 % of the investment in the electricity sector. The financing of these investments is currently the subject of various uncertainties. The conditions for access to resources will be decisive for the oil and gas sectors. The impact of liberalization in the countries of the OECD and the profitability of the investments in developing countries constitute the main challenges for the electricity sector. (authors)

Low Carbon and Climate Resilient Investments: Is South Africa ...

African Journals Online (AJOL)

. The aim of this paper is to review South Africa's response to climate change, with a special focus on investments in low carbon and climate resilient action. It highlights the successes to date and the challenges that still have to be addressed.

Analysis of the impact of the Dutch Heat Act on projects and an inventory of stakeholders

International Nuclear Information System (INIS)

Budding, B.; Gerrits, W.; Grootscholten, C.

2010-08-01

The Dutch Heat Act was adopted by the Dutch Lower Chamber in February 2009. The main aim of the Act is reliable delivery of heat at reasonable prices and conditions to protect the consumer. The Dutch Ministry of Economic Affairs commissioned a study on the effect of the Heat Act on investment decisions for new heat projects, encompassing a quantitative and a qualitative assessment. [nl

Irreversible investments revisited

DEFF Research Database (Denmark)

Sandal, Leif K.; Steinshamn, Stein I.; Hoff, Ayoe

2007-01-01

A multi-dimensional, non-linear dynamic model in continuous time is presented for the purpose of finding the optimal combination of exploitation and capital investment in optimal renewable resource management. Non-malleability of capital is incorporated in the model through an asymmetric cost......-function of investment, and investments can be both positive and negative. Exploitation is controlled through the utilisation rate of available capital. A novel feature in this model is that there are costs associated with the available capital whether it is utilised or not. And, in contrast to most of the previous...

43 CFR 29.11 - Investment.

Science.gov (United States)

2010-10-01

... 43 Public Lands: Interior 1 2010-10-01 2010-10-01 false Investment. 29.11 Section 29.11 Public... Investment. (a) The monies accumulated in the Fund shall be prudently invested in the following types of... investment advisor or custodian to the Fund, or their affiliates may be purchased or held by the Fund. (3...

Oil spill response planning under the Oil Pollution Act of 1990

International Nuclear Information System (INIS)

Lees, J.E.

1992-01-01

The oil spill in Alaska's Prince William Sound on March 24, 1989 illustrated the need for more resources, better planning, and better command and control to efficiently and effectively respond to, contain and cleanup catastrophic oil spills. In response to public concern and industry initiatives to resolve existing oil spill response problems. Congress enacted the comprehensive Oil Pollution Act of 1990 (OPA-90) on August 18, 1990. OPA-90 mandates comprehensive changes in vessel and facility response planning, envisioning a comprehensive and integrated oil spill response planning scheme, with revisions to reflect OPA-90's new requirements. Area Committees comprised of federal, state and local officials and others will prepare Area Contingency Plans for Coast Guard approval, which set forth the framework for responding to open-quotes worst case dischargesclose quotes. Owners and operators of tank vessels and onshore and offshore facilities must submit individual response plans for federal approval by February 18, 1993, identifying and ensuring availability of private personnel and equipment necessary to remove to the maximum extent practicable a open-quotes worst case discharge.close quotes The Coast Guard is considering rules to implement these requirements. Major challenges exist to meet the statutory requirements, including response times, skimming efficiencies, adverse weather and others that affect emergency response capability. This paper focuses on: (1) oil spill response problems identified and lessons learned from the Prince William Sound spill; (2) OPA-90's complex and technical oil spill response planning requirements and their effect on response planning for marine operations; (3) the federal regulatory program to implement OPA-90, defining spill response capability for a open-quotes worst case discharge,close quotes considering existing response resources and the new capabilities by the industry-supported Marine Spill Response Corporation

Investing: reducing risks to enhance returns.

Science.gov (United States)

West, J; Glickman, S; Seidner, A G

1996-09-01

The financial assets of a healthcare organization can present many opportunities for investment. In order to develop a profitable investment program that avoids risky speculation, however, healthcare financial managers must fully understand the nature and risks of their organizations' investments. They must define and monitor their investment objectives, limitations, levels of acceptable risk and policies and conditions through a statement of investment policy and comprehensive investment guidelines.

78 FR 36598 - Workforce Investment Act: Native American Employment and Training Council

Science.gov (United States)

2013-06-18

... Federal Advisory Committee Act (FACA) (Pub. L. 92-463), as amended, and Section 166 (h)(4) of the... Mrs. Evangeline M. Campbell, Designated Federal Official (DFO), U.S. Department of Labor, 200... least two business days before the meeting. FOR FURTHER INFORMATION CONTACT: Mrs. Evangeline M. Campbell...

Green investment: Trends and determinants

International Nuclear Information System (INIS)

Eyraud, Luc; Clements, Benedict; Wane, Abdoul

2013-01-01

This paper fills a gap in the macroeconomic literature on renewable sources of energy. It offers a definition of green investment and analyzes the trends and determinants of this investment over the last decade for 35 advanced and emerging countries. We use a new multi-country historical dataset and find that green investment has become a key driver of the energy sector and that its rapid growth is now mostly driven by China. Our econometric results suggest that green investment is boosted by economic growth, a sound financial system conducive to low interest rates, and high fuel prices. We also find that some policy interventions, such as the introduction of carbon pricing schemes or “feed-in-tariffs,” which require use of “green” energy, have a positive and significant impact on green investment. Other interventions, such as biofuel support, do not appear to be associated with higher green investment. - Highlights: • We offer a definition of green investment and review its trend since 2000. • We analyze its determinants from both theoretical and empirical perspectives. • Green investment is boosted by economic growth, interest rates, and fuel prices. • Feed-in-tariffs and carbon pricing schemes impact positively green investment

To assess the investment policy and investment activity of banks of Russia

OpenAIRE

Mandron V.; Buzaeva O.

2016-01-01

A priority to increase the profits of banks is investment operations in the stock market. Investment banking includes activities on raising capital using capital market instruments with the objective of capital appreciation. The article describes the investment objectives of the banks to improve their profitability, financial stability and enhance the effectiveness of the whole. The basic tools that enable banks to achieve the relevant objectives: profit, risk diversification, the maintenance...

Technology investment fund : issues for consideration : issue paper for an expert workshop

International Nuclear Information System (INIS)

Drexhage, J.

2006-12-01

This document was prepared in advance of an expert workshop held to discuss technology investment funds (TIF) related to Canada's Clean Air Act. TIFs are being considered in the development of the Clean Air Act as a compliance option for air emissions regulations. Energy production is expected to dominate Canadian business in the future, and the domestic sector is undergoing a marked shift from conventional to unconventional sources such as oil sands, coalbed methane (CBM) and liquefied natural gas. Technological solutions are required to allow Canada to obtain the benefits of the country's natural resource wealth while reducing impacts to the environment. However, solutions will vary from region to region. The report examined issues related to financing research and demonstration programs. Research and development policies were discussed, as well as the role of the government in encouraging public and private partnerships. It was suggested that a portfolio of policy approaches will be required, as well as a compliance-based TIF designed to address a range of greenhouse gas (GHG) and air pollutants. Issues concerning rates of contributions and recognition for existing technology investments were also reviewed. Various taxes, levies, and funding approaches were outlined. It was concluded that a successful TIF will form part of an overall emissions trading framework.1 tab

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)

77 FR 31393 - Workforce Investment Act of 1998 (WIA); Notice of Incentive Funding Availability Based on Program...

Science.gov (United States)

2012-05-25

... Training Administration, Office of Policy Development and Research, Division of Strategic Planning and..., to support innovative workforce development and education activities that are authorized under title IB (Workforce Investment Systems) or title II (AEFLA) of WIA, or under the Carl D. Perkins Career and...

76 FR 26769 - Workforce Investment Act of 1998 (WIA); Notice of Incentive Funding Availability Based on Program...

Science.gov (United States)

2011-05-09

... Training Administration, Office of Policy Development and Research, Division of Strategic Planning and..., to support innovative workforce development and education activities that are authorized under title IB (Workforce Investment Systems) or Title II (AEFLA) of WIA, or under the Carl D. Perkins Career and...

Greenland and Chinese outbound investments

DEFF Research Database (Denmark)

Mouyal, Lone Wandahl; Mortensen, Bent Ole Gram; Su, Jingjing

2017-01-01

-Government seeks to develop new business sectors and to attract foreign investment, including investments from China, to develop especially its mineral resources. China now is the second largest economy in the world and the outbound investments by Chinese companies presents unprecedented opportunities for both...... Chinese companies and their global partners. However, Chinese outbound investment faces many hurdles both at home and outside. This article analyzes some of the main aspects in relation to regulatory hurdles, political obstacles as well as environmental, labor and financial challenges primarily focusing...... on investments in the mining industry....

Evaluating the implementation of "managing the risk of suicide: a suicide prevention strategy for the ACT 2009-2014".

Science.gov (United States)

Sheehan, Johann; Griffiths, Kathleen; Rickwood, Debra; Carron-Arthur, Bradley

2015-01-01

Over the past two decades, governments have invested significantly in policies and strategies to prevent the tragic loss of life to suicide. However, there has been little focus on evaluating the implementation of such policies. This paper reports on the evaluation of the implementation of "Managing the Risk of Suicide: A Suicide Prevention Strategy for the ACT 2009-2014," the Australian Capital Territory's (ACT) suicide prevention strategy. We sought to answer two questions: (1) Could agencies provide data reporting on their progress in implementing the activities for which they were responsible?; and (2) Could a judgment about implementation progress be made and, if so, to what extent was the activity implemented? Individually tailored electronic surveys were sent to 18 ACT agencies annually over 4 years to measure their progress in implementing activities for which they had responsibility. By year four, full data were provided for 64% of activities, maximal partial data for 9%, and minimal partial data for 27%. Forty-two per cent of activities were fully implemented, 20% were partially implemented, and 38% were not implemented or could not be measured. It is possible to measure implementation of suicide prevention strategies, but appropriate processes and dedicated resources must be in place at the outset.

IMPACT OF FOREIGN DIRECT INVESTMENT (FDI ON DOMESTIC INVESTMENT IN REPUBLIC OF CROATIA

Directory of Open Access Journals (Sweden)

Igor Ivanović

2015-11-01

Full Text Available The aim of this paper is to investigate how foreign direct investment (FDI affects domestic investment in the Republic of Croatia. More precisely, the general purpose of this study is to determine the impact of net inflow of foreign capital on domestic investment in order to gain a clearer picture about the sensitivity and efficiency of domestic investment. After parsing domestic investment and FDI in Croatia, according to Croatian Bureau of Statistics and the Croatian National Bank, a historical overview of their movement from 1995 to 2014 was analyzed. In the following an overview and comparison of studies from around the world which deal with similar topic was made. In the empirical part; domestic gross fixed capital formation, changes in domestic stocks, net FDI and GDP growth rate was used as variables. Quarterly time series data ranging from the Q1 2001 to Q4 2014 were processed with the subset VAR (vector autoregressive econometric model. The results shows that FDI have negative influence on domestic investment in the Republic of Croatia with time lag.

78 FR 3031 - Workforce Investment Act; Native American Employment and Training Council

Science.gov (United States)

2013-01-15

... Federal Advisory Committee Act (FACA) (Pub. L. 92-463), as amended, and Section 166(h)(4) of the Workforce... to Mrs. Evangeline M. Campbell, Designated Federal Official (DFO), U.S. Department of Labor, 200.... Evangeline M. Campbell, DFO, Division of Indian and Native American Programs, Employment and Training...

Power Asymmetries and Punishment in a Prisoner's Dilemma with Variable Cooperative Investment.

Science.gov (United States)

Bone, Jonathan E; Wallace, Brian; Bshary, Redouan; Raihani, Nichola J

2016-01-01

In many two-player games, players that invest in punishment finish with lower payoffs than those who abstain from punishing. These results question the effectiveness of punishment at promoting cooperation, especially when retaliation is possible. It has been suggested that these findings may stem from the unrealistic assumption that all players are equal in terms of power. However, a previous empirical study which incorporated power asymmetries into an iterated prisoner's dilemma (IPD) game failed to show that power asymmetries stabilize cooperation when punishment is possible. Instead, players cooperated in response to their partner cooperating, and punishment did not yield any additional increase in tendency to cooperate. Nevertheless, this previous study only allowed an all-or-nothing-rather than a variable-cooperation investment. It is possible that power asymmetries increase the effectiveness of punishment from strong players only when players are able to vary their investment in cooperation. We tested this hypothesis using a modified IPD game which allowed players to vary their investment in cooperation in response to being punished. As in the previous study, punishment from strong players did not increase cooperation under any circumstances. Thus, in two-player games with symmetric strategy sets, punishment does not appear to increase cooperation.

Power Asymmetries and Punishment in a Prisoner's Dilemma with Variable Cooperative Investment.

Directory of Open Access Journals (Sweden)

Jonathan E Bone

Full Text Available In many two-player games, players that invest in punishment finish with lower payoffs than those who abstain from punishing. These results question the effectiveness of punishment at promoting cooperation, especially when retaliation is possible. It has been suggested that these findings may stem from the unrealistic assumption that all players are equal in terms of power. However, a previous empirical study which incorporated power asymmetries into an iterated prisoner's dilemma (IPD game failed to show that power asymmetries stabilize cooperation when punishment is possible. Instead, players cooperated in response to their partner cooperating, and punishment did not yield any additional increase in tendency to cooperate. Nevertheless, this previous study only allowed an all-or-nothing-rather than a variable-cooperation investment. It is possible that power asymmetries increase the effectiveness of punishment from strong players only when players are able to vary their investment in cooperation. We tested this hypothesis using a modified IPD game which allowed players to vary their investment in cooperation in response to being punished. As in the previous study, punishment from strong players did not increase cooperation under any circumstances. Thus, in two-player games with symmetric strategy sets, punishment does not appear to increase cooperation.

12 CFR 24.4 - Investment limits.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 1 2010-01-01 2010-01-01 false Investment limits. 24.4 Section 24.4 Banks and... ENTITIES, COMMUNITY DEVELOPMENT PROJECTS, AND OTHER PUBLIC WELFARE INVESTMENTS § 24.4 Investment limits. (a) Limits on aggregate outstanding investments. A national bank's aggregate outstanding investments under...

12 CFR 615.5140 - Eligible investments.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Eligible investments. 615.5140 Section 615.5140... POLICIES AND OPERATIONS, AND FUNDING OPERATIONS Investment Management § 615.5140 Eligible investments. (a) You may hold only the following types of investments listed in the Investment Eligibility Criteria...

76 FR 32232 - Employment and Training Administration Program Year (PY) 2011 Workforce Investment Act (WIA...

Science.gov (United States)

2011-06-03

... funds appropriated in the Full-Year Continuing Appropriations Act, 2011, Public Law 112-10, signed April...). On December 17, 2003, Public Law 108-188, the Compact of Free Association Amendments Act of 2003... Adminstration. U.S. Department of Labor, Employment and Training Administration Table A--WIA Youth Activities...

26 CFR 5c.168(f)(8)-9 - Pass-through leases-transfer of only the investment tax credit to a party other than the ultimate...

Science.gov (United States)

2010-04-01

... investment tax credit to a party other than the ultimate user of the property. [Reserved] 5c.168(f)(8)-9...) INCOME TAX (CONTINUED) TEMPORARY INCOME TAX REGULATIONS UNDER THE ECONOMIC RECOVERY TAX ACT OF 1981 § 5c.168(f)(8)-9 Pass-through leases—transfer of only the investment tax credit to a party other than the...

47 CFR 69.309 - Other investment.

Science.gov (United States)

2010-10-01

... 47 Telecommunication 3 2010-10-01 2010-10-01 false Other investment. 69.309 Section 69.309... Apportionment of Net Investment § 69.309 Other investment. Investment that is not apportioned pursuant to §§ 69... category and access elements in the same proportions as the combined investment that is apportioned...

NRC Response to an Act or Threat of Terrorism at an NRC-Licensed Facility

International Nuclear Information System (INIS)

Frank Congel

2000-01-01

The mandated response to a threat or act of terrorism at a U.S. Nuclear Regulatory Commission (NRC)-licensed facility was examined through a tabletop exercise in May 2000 and a limited field exercise in August 2000. This paper describes some of the new issues addressed and lessons learned from those exercises

[Several problems concerning population investment].

Science.gov (United States)

Liu, Z

1982-07-29

Population investment is a major topic in the studies of population and economic relations. In this particular area, numerous theoretical and practical problems are still in need of solution. Concerning the problem of population concept, there are three different approaches: (1) to determine the definition of population investment from the relationship between the population growth and the capital from national income used for investment, including investment in the newly increased population and investment in the entire population; (2) to explain population investment from the economic viewpoint that people are producers; and (3) to explain population investment from the expense needed to change a simple labor force to a skillful labor force. The expenses include educational costs, maintanance spending, wages needed to compensate workers in labor, costs for workers to master and learn modern scientific techniques to be used for production, and the costs of keeping a young labor force in the next generation.

Considering barriers to investment in South Africa

Directory of Open Access Journals (Sweden)

KB Afful

2014-10-01

Full Text Available This paper examines the effect of South Africa’s economic fundamentals on net direct investment and net portfolio investment. The results suggest that the main determinants of investment in South Africa are resource prices, input productivity and the economic performance of the domestic economy. The results illustrate that net direct investment and net portfolio investment are close but not perfect substitutes. In addition, we find that an increase in labour input costs reduces both net direct investment and net portfolio investment. Further, an increase in fixed capital productivity increases net direct investment. Further, also the results illustrate that subsidies increase both net direct investment and net portfolio investment. Moreover, an increase in exports increases both net direct investment and net portfolio investment. Policy recommendations are thus proposed that may increase foreign direct investment in South Africa.

Characterizing uncertain sea-level rise projections to support investment decisions.

Science.gov (United States)

Sriver, Ryan L; Lempert, Robert J; Wikman-Svahn, Per; Keller, Klaus

2018-01-01

Many institutions worldwide are considering how to include uncertainty about future changes in sea-levels and storm surges into their investment decisions regarding large capital infrastructures. Here we examine how to characterize deeply uncertain climate change projections to support such decisions using Robust Decision Making analysis. We address questions regarding how to confront the potential for future changes in low probability but large impact flooding events due to changes in sea-levels and storm surges. Such extreme events can affect investments in infrastructure but have proved difficult to consider in such decisions because of the deep uncertainty surrounding them. This study utilizes Robust Decision Making methods to address two questions applied to investment decisions at the Port of Los Angeles: (1) Under what future conditions would a Port of Los Angeles decision to harden its facilities against extreme flood scenarios at the next upgrade pass a cost-benefit test, and (2) Do sea-level rise projections and other information suggest such conditions are sufficiently likely to justify such an investment? We also compare and contrast the Robust Decision Making methods with a full probabilistic analysis. These two analysis frameworks result in similar investment recommendations for different idealized future sea-level projections, but provide different information to decision makers and envision different types of engagement with stakeholders. In particular, the full probabilistic analysis begins by aggregating the best scientific information into a single set of joint probability distributions, while the Robust Decision Making analysis identifies scenarios where a decision to invest in near-term response to extreme sea-level rise passes a cost-benefit test, and then assembles scientific information of differing levels of confidence to help decision makers judge whether or not these scenarios are sufficiently likely to justify making such investments

Encouraging private sector investment in climatefriendly technologies in developing countries. An assessment of policy options for the Dutch government

International Nuclear Information System (INIS)

Van Rooijen, S.N.M.; Van Wees, M.T.

2006-10-01

This study aims to explore new or reformed policies to be adopted by the Dutch government to encourage private sector investments in climate-friendly technologies in developing countries. A literature review of barriers to climate-friendly investments and of directions for solutions has been complemented with a number of in-depth interviews with stakeholders representing the major actors involved in investment projects (project sponsors, financing institutions, institutional investors and government). The barrier analysis has resulted in the following list of key obstacles to climate-friendly investments: (1) Lack of a sound, transparent and stable enabling environment for investing in developing countries; (2) Shortage of experienced and creditworthy sponsors; (3) High specific project risks; (4) Overestimation investment risks related to (sustainable) investments in developing countries in general (risk perspective); (5) Additional costs of climate-friendly technologies; (6) Shortage of risk capital; (7) Insufficient guarantee mechanisms; (8) Lack of know-how on public-private partnership structures and on financial design; and (9) Lack of insight how corporate social responsibility can be operationalised. Four main gaps have been identified on the basis of an assessment of current Dutch policies and instruments: (1) Shortage of instruments to directly promote investments; (2) Underdeveloped guarantee instruments; (3) Too restrictive cap on project size in financial schemes; (4) Lack of support in operationalising the concept of corporate social responsibility. Four areas for new or intensified policies have been identified based on the barrier and gap analysis: (1) Direct promotion of (potentially large scale) investments, including: (a) Supporting (the establishment of) sponsor companies developing sustainable energy projects in developing countries; (b) Making risk capital available; (c) Creating investment credit facilities; (d) Making development capital in

Competition in investment banking

Directory of Open Access Journals (Sweden)

Katrina Ellis

2011-01-01

Full Text Available We construct a comprehensive measure of overall investment banking competitiveness for follow-on offerings that aggregates the various dimensions of competition such as fees, pricing accuracy, analyst recommendations, distributional abilities, market making prowess, debt offering capabilities, and overall reputation. The measure allows us to incorporate trade-offs that investment banks may use in competing for new or established clients. We find that firms who switch to similar-quality underwriters enjoy more intense competition among investment banks which manifests in lower fees and more optimistic recommendations. Investment banks do compete vigorously for some clients, with the level of competition related to the likelihood of gaining or losing clients. Finally, investment banks not performing up to market norms are more likely to be dropped in the follow-on offering. In contrast, firms who seek a higher reputation underwriter face relatively non-competitive markets.

Essays in Investment Theory

International Nuclear Information System (INIS)

Bobtcheff, C.

2006-01-01

This thesis analyzes different aspects of the investment decision. In the first chapter, we consider an economy in which different energy sources may produce electricity. The model focuses first on the optimal use of a hydroelectric dam from which water can be extracted and which is supplied with a random water flow. The presence of constraints on a minimal and on a maximal storage capacity makes electricity consumption smoothing possible only when the quantity of water available to the agent lies in a certain range that we determine. In a second stage, we introduce a second energy source with unlimited supply at some exogenous cost. The marginal propensity to produce hydroelectricity is an increasing function of the second technology cost. The availability at a low cost of the alternative source improves thus time diversification. Finally, the optimal electric park is composed of a number of dams that is increasing with the cost of the second technology. Chapter 2 studies the decision of an investor who wants to undertake an irreversible investment when he has the choice between two mutually exclusive projects that present input price and/or output price uncertainty. We prove that the investor decides not to invest in any project when each investment generates the same payoff independently of its size. Therefore, some inaction region appears in which the investor prefers not to invest whereas an immediate investment would have been optimal if no choice had been available: a 'choice value' is thus created. A key feature of this bidimensional degree of uncertainty is thus that the payoff generated by each project is not a sufficient statistic to make a rational investment. In this context, our analysis provides a new motive for waiting to invest: the benefits associated with the dominance of one project over the other. In chapter 3, we study the investment decision problem of a duo-poly with price competition on a market of finite size driven by stochastic taste

Slovak Republic Act of 11 February 1998 on the energetics and on alterations to Act No. 455/1991 Collection of Acts of CSFR on small business (trade Act) in version of posterior regulations

International Nuclear Information System (INIS)

1998-01-01

This act constitute: (a) conditions of undertaking in electro-energetic, gas industry, and heat supply (in next only 'energetic' branches) ; (b) rights and responsibility of physical and act person undertaking in energetic branches; (c) rights and responsibility of customers of electricity, gas, and heat; counteract measures in the need situations, (d) and at prevention before need situations in energetic branches; (e) state regulation in energetic; (f) authority on keep of this act. The act is divided into for parts: (1) General constitutions, (2) Energetic branches; (3) The state authority; (4) Common, transient and invalidation constitutions.This act deals with the specific conditions for undertaking in nuclear power plants, too (licensing, security). This act shall into effect on 1 July 1998

VALUE-ADDED SERVICE INVESTING AND PRICING STRATEGIES FOR A TWO-SIDED PLATFORM UNDER INVESTING RESOURCE CONSTRAINT

Institute of Scientific and Technical Information of China (English)

Guowei Dou; Ping He

2017-01-01

Investing on value-added service (VAS) amplifies users' participation and platform profit.However,the investing resource is usually limited in practice.This paper investigates VAS investing and pricing strategies for a two-sided platform under investing resource constraint.We reveal that with VAS investment,Subsidizing can still be done to enlarge users' demand,even when the investing cost becomes higher.For optimal pricing strategies,the network effect will be the dominating determinant if the gap between two marginal cross-side benefits (i.e.the benefit that users obtain when each new user join the other side of the platform) is large.Interestingly,we show that with the increase of the marginal investing cost,users might either be priced higher or lower.If the marginal investing cost increases to a high level,and the gap between the two marginal cross-side benefits is large,lowering the access fee for users possessing the higher cross-side network effect does not necessarily compensate more profit loss caused by higher cost.Moreover,after VAS is developed,raising the access fee for those whose marginal investing benefit is large does not necessarily generate more profit as well.The opposite strategy further enlarges users' utility,and promotes the investment to benefit more users.

Strategy Diversity Stabilizes Mutualism through Investment Cycles, Phase Polymorphism, and Spatial Bubbles

Science.gov (United States)

Boza, Gergely; Kun, Ádám; Scheuring, István; Dieckmann, Ulf

2012-01-01

There is continuing interest in understanding factors that facilitate the evolution and stability of cooperation within and between species. Such interactions will often involve plasticity in investment behavior, in response to the interacting partner's investments. Our aim here is to investigate the evolution and stability of reciprocal investment behavior in interspecific interactions, a key phenomenon strongly supported by experimental observations. In particular, we present a comprehensive analysis of a continuous reciprocal investment game between mutualists, both in well-mixed and spatially structured populations, and we demonstrate a series of novel mechanisms for maintaining interspecific mutualism. We demonstrate that mutualistic partners invariably follow investment cycles, during which mutualism first increases, before both partners eventually reduce their investments to zero, so that these cycles always conclude with full defection. We show that the key mechanism for stabilizing mutualism is phase polymorphism along the investment cycle. Although mutualistic partners perpetually change their strategies, the community-level distribution of investment levels becomes stationary. In spatially structured populations, the maintenance of polymorphism is further facilitated by dynamic mosaic structures, in which mutualistic partners form expanding and collapsing spatial bubbles or clusters. Additionally, we reveal strategy-diversity thresholds, both for well-mixed and spatially structured mutualistic communities, and discuss factors for meeting these thresholds, and thus maintaining mutualism. Our results demonstrate that interspecific mutualism, when considered as plastic investment behavior, can be unstable, and, in agreement with empirical observations, may involve a polymorphism of investment levels, varying both in space and in time. Identifying the mechanisms maintaining such polymorphism, and hence mutualism in natural communities, provides a significant

20 CFR 667.220 - What Workforce Investment Act title I functions and activities constitute the costs of...

Science.gov (United States)

2010-04-01

... time worked or other equitable cost allocation methods. (3) Specific costs charged to an overhead or... workforce investment boards, direct recipients, including State grant recipients under subtitle B of title I... identified in paragraph (b) of this section and which are not related to the direct provision of workforce...

Real Options Analysis of Electricity Investments

Energy Technology Data Exchange (ETDEWEB)

Heggedal, Ane Marte

2012-07-01

This thesis utilizes real options analysis for evaluating investment opportunities in the electricity sector. It also formally tests how investors in hydropower plants have included uncertainty when considering their investment opportunities. The real options method applies financial options theory to quantify the value of management flexibility and is chosen due to three important characteristics of investments in the electricity sector. First; the investment is completely or partially irreversible, second; the investor can choose when to invest in the facility, and third; there is uncertainty in several factors affecting the cash flows of the investments. Factors of uncertainty include the development of electricity prices, policies, technological advances, and macroeconomics measures.Four papers are included in this thesis. Paper 1, Upgrading hydropower plants with storage: Timing and capacity choice, presents a valuation framework for deciding when to upgrade an existing hydropower plant and which capacity to choose. The second paper, Transmission capacity between Norway and Germany: A real options analysis, sheds light on when two electricity markets, in this case Norway and Germany, should be connected through a sub sea cable. The investor can choose when to invest and the capacity of the cable, and may also choose to invest sequentially. Paper 3, Optimal timing and capacity choice for pumped hydropower storage, investigates when investment in a pumped hydropower plant with storage should be undertaken and what the capacity of the facility should be. Whereas the three first papers investigate investment opportunities, Paper 4, Uncertain climate policy decisions and investment timing: Evidence from small hydropower plants, studies when investors in small hydropower plants chose to invest. The analyses disclose whether the net present value approach or the real options method best describe the investment decisions made by the investors. Viewing investment

FINANCIAL MANAGEMENT OF THE INVESTMENT CYCLE