This article presents the state education finance and governance profile of Tennessee. The 17th largest state, Tennessee is home to 2.01% of the nation's inhabitants. Funding of K-12 education in Tennessee is accomplished via a formula known as the Basic Educational Program (BEP). This plan primarily utilizes school district enrollment numbers to…
Verstegen, Deborah A.; Knoeppel, Robert C.
This research investigates state finance policies for public elementary and secondary education using survey methodology. The purpose is to update the existing knowledge base in the field as well as to provide a compendium of finance and policy options that are being used across the states to finance school for lawmakers, educators and others.…
Verstegen, Deborah A.
Discusses need for reinventing state education finance systems to provide adequacy and equity aligned to standards-based reform. Provides initial specifications for "The New Finance." Examines in depth approaches for determining a base spending level considered adequate for the average child to reach high educational standards. (Contains…
Nkrumah-Young, Kofi K.; Powell, Philip
Higher education can be financed privately, financed by governments, or shared. Given that the benefits of education accrue to the individual and the state, many governments opt for shared financing. This article examines the underpinnings of different options for financing higher education and develops a model to compare conditions to choices and…
Verstegen, Deborah A.
This research investigates state finance policies for public education using survey methodology. The purpose is to update previous work and the existing knowledge base in the field as well as to provide a compendium of finance and policy options that are used across the states to finance public elementary and secondary schools. Chief state school…
Hustedt, Jason T.; Barnett, W. Steven
The landscape of financing early childhood education in the U.S. is complex. Programs run the gamut from tuition-supported private centers to public programs supported by federal, state, or local funds. Different funding streams are poorly coordinated. The federal government funds several major targeted programs that are available only to specific…
Adrian Macris; Maria Macris
This paper sets forth the issue of financing higher education in Romania according tothe fundamental principles adopted by most of the countries of the European Union. Under suchcircumstances, the two components of financing State universities are minutely exhibited, namelybasic financing and complementary financing. At the same time, the extremely important matterrequiring the foundation of an efficient and competitive educational system demanded by the newenvironment also implies the provid...
Conklin, Kristin D.
Discusses why the current economic downturn for public institutions requires that policy makers respond with new financing policies that reflect the simultaneous convergence of state deficits, changing demographics, and the information economy's voracious demand for a more educated workforce. Presents strategies for states to behave as investors…
Deborah M. Kazal-Thresher
Full Text Available Educational finance reforms and desegregation have both sought to address inequities in educational opportunities for minorities and low income families. The recent methods of addressing desegregation issues have tended to focus on attaining racial balance rather than educational quality, however. This paper explores how desegregation goals can be merged with educational finance reform to more systematically address educational quality in schools serving low income and minority populations. By moving toward centralized control over school financing, the inequity of school outcomes that are based on unequal school resources can be reduced. In addition, state determined expenditures when combined with desegregation monies, would meet the original intention of desegregation funds by clearly providing add-on monies for additional services for minority children, while at the same time, creating a better monitoring mechanism.
Della Sala, Matthew R.; Knoeppel, Robert C.
The research described in this paper expands on attempts to conceptualize, measure, and evaluate the degree to which states have aligned their finance systems with their respective accountability policies. State education finance and accountability policies serve as levers to provide equal educational opportunities for all students--scholars have…
Carnoy, Martin; Froumin, Isak; Loyalka, Prashant K.; Tilak, Jandhyala B.
Because higher education serves both public and private interests, the way it is conceived and financed is contested politically, appearing in different forms in different societies. What is public and private in education is a political--social construct, subject to various political forces, primarily interpreted through the prism of the state.…
Knoeppel, Robert C.; Della Sala, Matthew R.
The conceptualization and measurement of education finance equity and adequacy has engaged researchers for more than three decades. At the same time, calls for increased academic accountability and higher student achievement in K-12 public education have reached new levels at both the national and state levels. Aligning these represents an…
Western Interstate Commission for Higher Education, Boulder, CO.
This report is a collection of five state case studies comprising a major component of the first phase of the project, "Changing Direction: Integrating Higher Education Financial Aid and Financing Policies." The project explored state-level strategies to better align financing and financial aid policies and support more informed decision…
Hill, Laura; Warren, Paul; Murphy, Patrick; Ugo, Iwunze; Pathak, Aditi
This document presents the technical appendices that accompany the full report, "Special Education Finance in California." The appendices include: (1) Problems with AB 602 and Other State Funding Programs for Special Education; (2) Additional Figures for Analysis of Distribution of Students with Disabilities; (3) Using Supplemental and…
The purpose of this study was to determine the extent to which National Standards in Personal Finance for Business Education correlate with National Standards in Personal Finance Education. A content analysis revealed that the National Standards in Personal Finance for Business Education, established by the National Business Education Association…
Nelson, F. Howard
Reviews the United States' fiscal situation and the outlook for local, state, and federal government support of education. Focuses on the impact of decentralization of education financing under a conservative government and on the influence of federal budget deficits on school finance. Includes suggestions for educators in seeking financial…
Integrating Postsecondary Education Interventions to Help Low-Income Students Succeed. Testimony of Alexander Mayer, Deputy Director, Postsecondary Education, MDRC, Before the California State Assembly Higher Education Committee and the Budget Subcommittee on Education Finance
This document presents the testimony of MDRC's Alex Mayer, the Deputy Director for Postsecondary Education at MDRC. The three points that Alex Mayer emphasizes in this testimony before the California State Assembly Higher Education Committee and the Budget Subcommittee on Education Finance on integrating postsecondary education interventions to…
Kenton, Carol Piper; Huba, Mary E.; Schuh, John H.; Shelley II, Mack C.
This study examined the financing patterns of 212 community colleges in 11 midwestern states during the decade of the 1990s using the Integrated Postsecondary Education Data System (IPEDS). Support from state appropriations declined between 1990 and 2000, and reliance on tuition and fees increased between 1990 and 1995, although both trends were…
Payne, Bethan; Charonis, George-Konstantinos; Haaristo, Hanna-Stella; Maurer, Moritz; Kaiser, Florian; Siegrist, Rahel; McVitty, Debbie; Gruber, Angelika; Heerens, Nik; Xhomaqi, Brikena; Nötzl, Tina; Semjonov, Meeli; Primožic, Rok
Higher education plays a vital role in society and the quality, accessibility, and form of higher education is highly dependent on financing. Financing of higher education is conceived to be of central importance for the future creation and dissemination of knowledge and research. Therefore, the financing of higher education is a topic that has…
Aud, Susan L.
Education finance policy has become an urgent concern in many state legislatures. Demands for greater equity and accountability have forced states to review, and in many cases to revise, the method by which schools are funded. This study sheds light on Indiana's financing of public K-12 education by providing a clear explanation of the components…
Full Text Available Currently, Spanish universities meet the educational needs of the students with a wide offer of courses and the opportunity to study at all levels. They appear as an attractive option in the context of the relatively low cost of living compared to other countries in the EU area and under conditions of a tax system controlled by the Government. Starting from the assumption that the financing model of the academic education public institutions represents the foundation of their modernization in the current society based on changes and evolution, in this paper we propose to bring into the light of the concerns of those who are interested, through a persuasive exhibit, the Spanish model and its specific features. To this end, our debate will begin with a description of the Spanish system of academic education under the decentralized model of financing imprint, continuing with the presentation of specific skills in terms of funding on the triptych template: state - autonomous communities - universities. Subsequently, our investigative approach will focus on detailing the tertiary education financing sources: public resources, private and patrimonial revenues. The end of our presentation will be intended for conclusions, through which we aim to advance our vision regarding the investigated problems. In fact, the paper is intended to be a precursor step in carrying out a comparative study between the academic education funding mechanism in Romania and the Spanish one.
Canadian Teachers' Federation, Ottawa (Ontario).
This document reports the proceedings of a conference held to discuss the availability of educational resources and the financing of education in Canada. The conference focused specifically on the financial implications of redesigning educational institutions to be capable of flexible response to students' needs, making educational benefits more…
Full Text Available The paper considers the problems of financing higher education institutions and focuses on formation of estimates of higher education institutions in Ukraine. The study established that the public and municipal education institutions financed by estimate and budget, which is determined by the amount and directions of use funds for implementation of functions and achieving the goals. The estimate has 2 components: general and special fund. The paper describes the practice of using general and special funds of higher education institutions. The results present the features of financing public and private higher education institutions. Public higher education institutions acutely feel the lack of financial resources. Tuition fees at public higher education institutions are calculated according to the requirements of the budget legislation. The conclusions suggest the prospects of financing higher education institutions in Ukraine. Higher education institutions need to give special attention to financial planning, optimization of financing sources and expenditures. It is necessary to reform the models, methods and forms of financing higher education sector.
Spielhofer, Thomas; Kerr, David; Gardiner, Clare
This document provides guidance on effective practice in delivering personal finance education in secondary schools. It is based on the findings from research carried out by NFER (the National Foundation for Educational Research) on behalf of pfeg (Personal Finance Education Group) as part of an evaluation of Learning Money Matters (LMM). This…
With the onset of new public management, there is a shift in the methods of financing of higher education institutions across the countries of the world, particularly emerging market economies, from public financing to private financing of higher education. Many countries adopted this shift very quickly while others have moved towards a gradual…
Bekareva S. V.
Full Text Available The article highlights the experience in scientific research organized for the Bachelor foreign students of Economics Department of Novosibirsk National Research State University (NSU who study finance on the third year of the educational program “International Finance”. It was specially created for the students of Chinese-Russian Institute, Harbin, China. This item of the educational program is new and was approved for the first time in the 2016/2017 academic year. It is supposed that its application will favor development of the students’ skills and intensification of the international professors’ cooperation.
The purpose of this research was to examine the effects of workplace financial education on workers' personal finances and work outcomes and determine relationships among financial management (attitudes, knowledge and behaviors), financial well-being, personal finance-work conflict, and work outcomes with data of white-collar workers in an insurance company in mid-western states. Research questions were (1) What are the profiles of financial attitudes, financial knowledge, financial behav...
Hassan, Moshood Ayinde
The purpose of this study is to determine how adult and non formal education is financed in Nigeria; and to examine areas or forms of and the problems of financing adult and non-formal education in Nigeria. Survey research was used in order to carry out the study. Three hundred and twenty five (325) respondents from government agencies,…
... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Law governing rights and obligations of Banks, Finance Board, Office of Finance, United States and Federal Reserve Banks; rights of any Person against Banks, Finance Board, Office of Finance, United States and Federal Reserve Banks. 987.2 Section 987.2 Banks and Banking FEDERAL HOUSING FINANCE...
... DEPARTMENT OF STATE [Public Notice: 7312] Notice of Certification; Foreign Military Financing, and International Military Education and Training; Guatemala AGENCY: Department of State. ACTION: Notice. The... internationally recognized human rights; (B) the Guatemalan Air Force, Navy, and Army Corps of Engineers are...
Geske, Terry G.; Johnston, Mary Jo
Describes current practices in Illinois where a personnel reimbursement formula is used to finance special education. Summarizes the basic components of the Resource Cost Model (RCM), a complex school finance formula, and compares and contrasts RCM with Illinois' current method of financing special education. (MLF)
Full Text Available The paper considers the ways to optimize financing public higher education institutions of Ukraine. Public higher education institutions acutely feel the lack of financial resources. The study describes that it is necessary to reform the models, methods and forms of financing higher education institutions. The paper explains the impact of autonomy of higher education institutions on their development. The autonomy level of university determines the possibilities for diversification from additional sources. The results found that more autonomy of higher education institutions will allow them effectively generate and use financial resources. The review outlines the diversification of financial resources public universities. One of the key factors of the university success is to implement the diversification strategy into the overall academic strategy and mission of the higher education institution. The analysis recommends the performance-based funding system and public higher education institutions achieve certain performance indicators. The performance-based funding system will promote higher competitiveness of education institutions and improve the quality of higher education in general. The conclusions suggest the development trends of financing public higher education institutions of Ukraine.
Kabbani, Nader; Salloum, Siba
This article examines the implications for access and equity of the Syrian government's efforts to reform higher education in the country over the past decade. In the context of social and economic reforms that are moving the county from a state-controlled to a social market economy, it focuses on adequacy in financing higher education, as well as…
Morel , Nathalie; Palme , Joakim
In an era of 'permanent austerity' (Pierson, 2001) and financial crisis, the issue of financing welfare state provision is topical. Moreover, the future of welfare state funding in countries with ageing populations is no doubt raising increasing interest in scholarly as well as policy circles. Yet the financing side of welfare provision has traditionally been given little attention and remains somewhat of a black box of the welfare state. The fact that some of the financing mechanisms have re...
Feldman, David; Lowder, Travis; Schwabe, Paul
This brief is a compilation of data points and market insights that reflect the state of the project finance market for solar photovoltaic (PV) assets in the United States as of the third quarter of 2016. This information can generally be used as a simplified benchmark of the costs associated with securing financing for solar PV as well as the cost of the financing itself (i.e., the cost of capital). Three sources of capital are considered -- tax equity, sponsor equity, and debt -- across three segments of the PV marketplace.
Guthrie, James W.
In light of the passage of Proposition 13 in California, which requires rethinking of the state's school financing structure, the author assesses the advantages and disadvantages of complete state financing v retaining some proportion of the revenue function at the local level. (Author/SJL)
National Education Association, Washington, DC. Commission on Professional Rights and Responsibilities.
This report discusses the dispute in Arizona over the 1967 legislation regulating educational finance and offers alternatives to that legislation. The document describes factors and issues relevant to an understanding of the present dispute, defines accepted principles of educational finance, provides factual information about Arizona's support of…
Full Text Available BACKGROUND. The main source of state public health institutions financing in Ukraine is budgetary funding. In order to overcome the underfunding, the idea of multichannel health financing was proposed in the late 1990s. The main forms of extrabudgetary financial support of public health institutions in Ukraine are voluntary health insurance, non-profit self-financing, charity and sponsorship. The study aims to deeper understand the nature of alternative financing mechanisms of state public health institutions in Ukraine and peculiarities of their use in practice.METHODS. The proposed study is exploratory. Case-study was selected as research method. Nine unstructured interviews were conducted in six health care facilities that have agreed to participate in the study. All studied facilities were in-patient.RESULTS. The sources of financial revenues of the studied institutions were as follows: reimbursement for treatment of insured patients, reimbursement for treatment of sickness funds members, payments for services (medical examinations, counseling, transportation to the hospital, rental of premises, payment for internship from the students of paid forms of medical education, charitable contributions, contracts with companies, contracts with private clinics based in public institutions’ premises (limited liability companies, private entrepreneurs, sponsorship, grants, gifts, payments for services for foreigners, and in-kind revenues. Major health facilities expenditures were the following: salaries (not covered from extrabudgetary revenues; ranged from 70% to 92% of the funds provided to the institutions from state (municipal, regional budget, energy carriers (partially covered from extrabudgetary funds, patients nutrition, medicines, materials, household expenditures, reparation of premises, and purchase of equipment (mostly covered from extrabudgetary revenues. In the studied cases, funds raised by alternative funding mechanisms amounted from
Guarino, Cassandra M.; Galama, Titus; Constant, Louay; Gonzalez, Gabriella; Tanner, Jeffery C.; Goldman, Charles A.
Qatar's education reform, which included implementation of a new finance system, appears to be providing schools with adequate funding but is still struggling with issues of transparency and swift policy shifts that have been difficult to accommodate. [For full report, "Developing a School Finance System for K-12 Reform in Qatar", see…
Goertz, Margaret E.; Weiss, Michael
Education finance policy in New Jersey has been shaped by over 30 years of school finance litigation. Through its decisions in "Robinson v. Cahill" (1973-1976) and "Abbott v. Burke" (1985-2005), the justices of New Jersey's supreme court have defined the state's constitutional guarantee of a "thorough and efficient"…
This report examines the financing of the two components of France's vocational education and training (VET) system. They are initial vocational training (IVT), which includes upper secondary and short forms of higher education, and continuing vocational training (CVT), which aims to help workers adapt to changes in working techniques and…
Azarenkova Halyna M.
The article proves urgency of the issue of improvement of the state finance control. It generalises and systemises shortcomings of the state finance control under modern conditions. It systemises generalised shortcomings and analysis of certain shortcomings with the purpose of identifying their weight. It identifies and justifies ways of improvement of the state finance control in Ukraine. It provides interrelation of the proposed ways of improvement of the state finance control with the spec...
Johnson, Kay; Lloyd-Puryear, Michele A; Mann, Marie Y; Ramos, Lauren Raskin; Therrell, Bradford L
Financing for newborn screening is different from virtually all other public health programs. All except 5 screening programs collect fees as the primary source of program funding. A fee-based approach to financing newborn screening has been adopted by most states, to ensure consistent funding for this critical public health activity. Two types of data are reported here, ie, primary data from a survey of 37 state public health agencies and findings from exploratory case studies from 7 states. Most of the programs that participated in this survey (73%) reported that their newborn screening funding increased between 2002 and 2005, typically through increased fees and to a lesser extent through Medicaid, Title V Maternal and Child Health Services Block Grant, and state general revenue funding. All of the responding states that collect fees (n = 31) use such funds to support laboratory expenses, and most (70%) finance short-term follow-up services and program management. Nearly one half (47%) finance longer-term follow-up services, case management, or family support beyond diagnosis. Other states (43%) finance genetic or nutritional counseling and formula foods or treatment. Regardless of the source of funds, the available evidence indicates that states are committed to maintaining their programs and securing the necessary financing for the initial screening through diagnosis. Use of federal funding is currently limited; however, pressure to provide dedicated federal funding would likely increase if national recommendations for a uniform newborn screening panel were issued.
Green, Preston C., III.
Since the separate-but-equal era, students attending schools with high concentrations of Black students have attempted to improve the quality of their educations through school finance litigation. Because of the negative effects of racial isolation, Black students might consider mounting school finance litigation to force states to explicitly…
Macht, Stephanie Alexandra
Purpose: The purpose of this paper is to bring attention to "entrepreneurial finance education", an aspect of entrepreneurship education that is widely taught but neglected by the educational literature. It does so by exploring how social capital, a key resource for entrepreneurs, can be incorporated into entrepreneurial finance…
Picus, Lawrence O.
Although California's real spending per pupil grew 13 percent between 1980-81 and 1990-91, real growth in educational spending here has not kept pace with the rest of the country. The reasons are complex, with many causes rooted in the state tax system design and the resulting school finance structure. This paper describes how and why California's…
Steer, Liesbet; Wathne, Cecilie
Much progress has been made in improving access to basic education in recent years, but international support has been less than promised and the "funding gap" to achieve universal primary education remains stubbornly present. This article identifies six interrelated factors that constrain such donor financing. Prioritization of basic education,…
Suetomi, Kaori; Murray, Nadezhda
The conditions required for a reform of the educational finance system as the foundation of compulsory education are 1) devolution to schools and introduction of national standards in order to deal with "individual equality" while compensating for the insufficiency of "aspectual equality," and 2) dealing with educational needs…
Micah Odhiambo Nyamita
Full Text Available The current public sector financial management reforms agenda within the state-owned corporations in Kenya aimed at integrating and aligning their performance to vision 2030, has not yet achieved the traction required. This study, therefore, examined the different types of debt financing strategies applied by the various state-owned corporations in Kenya, in comparison to those applied by state-owned corporations from developed and developing economies. The study specifically revealed that private debt financing, through bank loans and payables is commonly used amongst Kenyan state-owned corporations. While, most state-owned corporations from developed and developing economies, such as in America, Europe, Asia and South Africa, use public debt financing, through financial securities, traded in both domestic and international capital markets.
Formicola, Allan J
This executive summary for Section 1 of the "Advancing Dental Education in the 21 st Century" project provides a composite picture of information from 12 background articles on the current state of dental education in the United States. The summary includes the following topics: the current status of the dental curriculum, the implications of student debt and dental school finances, the expansion of enrollment, student diversity, pre- and postdoctoral education, safety net status of dental school clinics, and trends in faculty.
Alberta Learning, Edmonton.
This guide is designed to help students in Alberta, Canada, plan and finance postsecondary education. A student who has made financial plans will have more options when it is time to choose an institution for postsecondary education. How to choose the right school depends on what a student wants from education and what he or she plans for the…
Human Resources Development Canada, Ottawa (Ontario).
This updated guide is designed to help students in Alberta, Canada, plan and finance postsecondary education. A student who has made financial plans will have more options when it is time to choose an institution for postsecondary education. How to choose the right school depends on what a student wants from education and what he or she plans for…
Describes financing-program options, key components of financing programs, and factors for states and communities to consider as they make decisions about getting started or updating their clean energy financing programs.
Guthrie, James W.
Policymakers continue to face major challenges in education finance, despite a history of reforms. Today's challenges include ensuring financial adequacy, maintaining gains in distributional equality, coping with the increasing need for teachers, satisfying public preference for diversity in schools and programs, and devising performance…
Describes reasons for California's budget deficits and their impact on school finance. Offers five possible solutions to the school funding crises: Restructure the state's tax and revenue system, restore school district revenue-sharing abilities, initiate a top-to-bottom mandate review, provide greater fiscal and program flexibility, and revamp…
Tron, Esther, Ed.
Section 1203 of the Education Amendments of 1978 mandated the undertaking of studies concerning the adequate financing of elementary and secondary education in the 1980s. Created to carry out this mandate, the School Finance Project established as one of its goals reporting to Congress on issues implicit in funding educational adequacy. Several…
Verstegen, Deborah A.
The purpose of this article is to describe and compare individual state funding systems for public elementary and secondary education in the United States. States' major education funding systems are described as well as funding mechanisms for students with disabilities; English language learners (ELL); gifted and talented students; and low income…
Campaign finance might seem like the exclusive province of political reporters, but there are many good reasons why authors should be paying attention--both in races for education positions and in other key races at the local, state, and federal levels with implications for education. Basic math is a necessary skill and familiarity with a…
Canadian Association of University Teachers, 2015
Since the turn of the 21st century, universities in Canada have undergone significant changes. Student enrollment has exploded. This issue of the Canadian Association of University Teachers (CAUT) Education Review provides an analysis of the current state of university finances in Canada, as well as longer-term trends in university revenues and…
Timar, Thomas B.; Roza, Marguerite
Over the past 30 years, states have assumed a greater role in financing education. The presumption of local control has been superseded by systems of state control. This shift in authority raises several critical questions. Chief among them is, "What effect has centralization of education financing had on the capacity of school districts to…
Howe, Edward T.
Financing school capital projects in New York State is a responsibility involving both local school districts and the state government. State building aid is provided through an aid ratio and approved expenditure formula. This formula has an equalizing effect among districts by explicitly providing an aid amount inversely proportional to property…
Quay, Richard H.
A bibliography of Joel S. Berke, James W. Guthrie, and Michael W. Kirst on politics and educational finance is presented. Specific topics include the following: whether financial support of public schools should be assumed completely by states, school finance policies and practices, school finance reform versus the spending and tax limitation…
Rajasenan, D.; Bijith, G. A.; Rajeev, B.
Education and education exclusion are two mammoth social and political challenges in a society characterized by diverse social groups. Although "self-financing regime" helped to barricade the outflow of money from the state, it also hampered the "social equity" in education and hence germinated the seed of education exclusion…
Verstegen, Deborah A.
Over time, issues of justice and fairness in education finance have been addressed by the courts in all but five states. The key focus has been on illegitimate disparities in funding between rich and poor school districts caused by the happenstance of unequal local wealth. Recently, attention has turned to the relationship between funding gaps and…
The purpose of this article is to discuss how best to finance higher education in low-income countries of sub-Saharan Africa, drawing on benefits and drawbacks of the prevalent models of higher education finance, and lessons to be learned from countries which have seen greater expansion of their higher education systems in recent decades. Two main…
Journal of Education Finance, 2017
In 2016, a group of school finance scholars and public school practitioners gathered in Jacksonville, Florida, for the National Education Finance Academy's annual conference to discuss, among an array of topics, the state of P-20 finance in all 50 states. At the roundtable discussion, 36 states were represented, and scholars representing 30 states…
Ron Balsera, Maria; Klees, Steven J.; Archer, David
This forum seeks to problematise issues related to the lack of resources to adequately finance public education systems. It explores potential solutions based on increased domestic resource mobilisation through progressive taxation in order to meet the growing financing gap needed to achieve Sustainable Development Goal (SDG) 4. While many…
Zumeta, William; Breneman, David W.; Callan, Patrick M.; Finney, Joni E.
This ambitious book grows out of the realization that a convergence of economic, demographic, and political forces in the early twenty-first century requires a fundamental reexamination of the financing of American higher education. The authors identify and address basic issues and trends that cut across the sectors of higher education, focusing…
St. Pierre, Eileen; Richert, Charlotte; Routh, Susan; Lockwood, Rachel; Simpson, Mickey
States are recognizing the need for personal financial education and have begun requiring it as a condition for high school graduation. Responding to teacher requests to help them meet state-mandated financial education requirements, FCS educators in the Oklahoma Cooperative Extension Service developed a financial education tool kit. This article…
Feldman, David J [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Schwabe, Paul D [National Renewable Energy Laboratory (NREL), Golden, CO (United States)
This brief is a compilation of data points and market insights that reflect the state of the project finance market for solar photovoltaic (PV) assets in the United States as of the third quarter of 2017. This information can generally be used as a simplified benchmark of the costs associated with securing financing for solar PV as well as the cost of the financing itself (i.e., the cost of capital). This work represents the second DOE sponsored effort to benchmark financing costs across the residential, commercial, and utility-scale PV markets, as part of its larger effort to benchmark the components of PV system costs.
Bougroum, Mohammed; Ibourk, Aomar
This paper explores the higher education financing policy in Morocco in light of the central issue of equity. First, it surveys the current situation, using a critical approach to the present financing policy, and looking at the three dimensions of adequacy, efficiency, and equity. Second, it describes the principal policy challenges in financing…
Sun, Fengshou; Barrientos, Armando
Sustaining China's rapid economic growth in the future will come to depend in large part on the quantity and quality of the human resources it can mobilize. The paper considers the prospects for higher education financing, and highlights the importance of improving equity in access to higher education as a precondition for a sustainable expansion…
The National Rural Water Association, headquartered in Duncan Oklahoma, has been selected through a competitive grants process to establish a regional Environmental Finance Center (EFC) serving EPA Region 8 states.
Congress of the U.S., Washington, DC. Senate Committee on Finance.
The transcript of a hearing before the Senate Committee on Finance concerning tax incentives for education is presented. The statements of committee members and public witnesses testimony, both oral and written, are provided, as well as letters of support. Current tax expenditures for financial aid to college students, including student loan…
Education Commission of the States, Denver, CO.
This handbook attempts to improve policy development and decision making relative to financing postsecondary education. Sections cover: (1) descriptions and comparisons of selected reports relative to recommendations for postsecondary financing; (2) position statements and/or comments on postsecondary financing from certain cooperative sponsoring…
Pere, Engjell; Minxhozi, Luljeta
In many countries, reforms in higher education have follow-on effects on social and economic development. This article relates mainly to economic and financial issues regarding the development of higher education. Starting from the notable increase in demand for higher education and the budgetary constraints on public education financing, we argue…
This paper is of the opinion that inadequate finance is detrimental to the development of visual arts education in Nigeria. It opines that since it is a capital intensive programme, there is the need for concerted efforts to ensure that finance does not decimate the programme. The paper gave suggestions on how to reduce the ...
This paper estimates the impact of the Michigan school finance reform, "Proposal A," on education inputs and test scores. Using a difference-in-difference estimation strategy, I find that school districts in Michigan used the increase in educational spending generated through "Proposal A" to increase teacher salaries and reduce…
Geske, Terry G.
An overview of recent state level policy developments and policy analysis research as related to equity and efficiency objectives in public school finance is presented. Emphasis is placed on identifying complementarities, rather than the tradeoffs, between equity and efficiency criteria. (Author/LC)
Encarnation, Dennis J.
The issue in government treatment of nonpublic education has never been whether governments should finance or regulate nonpublic schools, but rather how and how much, according to the author. This paper explores financial and regulatory policies shaping government involvement in nonpublic education. It first examines the types and magnitudes of…
Full Text Available The issue of public finance sustainability is very important for all EU member states in the actual context after the economic crisis. This article makes an analysis of the sustainability of public finances for the new member states (which joined EU in 2004 and 2007. Firstly, we try to analyze the impact of the economic crisis on public finances sustainability. The sustainability of public finances can be reflected through the level of public debt and budget deficit for a country. For this reason the article presents the evolution of budget deficits for NMS 12 before and after the recent economic crisis. Based on the econometric regression the correlation between economic growth rate (indicator used for measuring the economic evolution and the budget deficit is revealed. Results for Romania and NMS 12 are quite similar; fact that tells us that the status of public finances is following the same trend in Romania as in the NMS 12.
Ahmad, Qazi Kholiquzzaman
The main objective of the study is to gain an understanding on educational expenditure at primary and secondary levels in Bangladesh. In estimating educational expenditure by source, it has been sought to determine: (1) sources of financing of primary and secondary education; (2) rural-urban variation; (3) variation between boys and girls; (4)…
Ingram, Richard C; Bernet, Patrick M; Costich, Julia F
There is a growing recognition that the US public health system should strive for efficiency-that it should determine the optimal ways to utilize limited resources to improve and protect public health. The field of public health finance research is a critical part of efforts to understand the most efficient ways to use resources. This article discusses the current state of public health finance research through a review of public health finance literature, chronicles important lessons learned from public health finance research to date, discusses the challenges faced by those seeking to conduct financial research on the public health system, and discusses the role of public health finance research in relation to the broader endeavor of Public Health Services and Systems Research.
In a state as large and complex as California, education financing can become as complicated as rocket science. This two-page Q&A provides a brief, easy-to-understand explanation of California's school finance system and introduces the issues of its adequacy and equity. A list of resources providing additional information is provided.
Odden, Allan R.; Picus, Lawrence O.; Goetz, Michael E.
This article estimates the costs of school finance adequacy in each of the 50 states and Washington, D.C. by applying the recommendations from an evidence-based model to the student characteristics of each individual state. Using two different prices, (a) the national average teacher salaries adjusted by a comparable wage index and (b) individual…
This study analyses the policies for financing higher education in six Arab countries: Egypt, Jordan, Lebanon, Morocco, Syria, and Tunisia. It assesses the adequacy of spending on higher education, the efficiency with which resources are utilized, and the equity implications of resource allocations. Based on six detailed case studies, this…
States have been searching for ways to help finance the $196 billion Medicaid program, a jointly funded federal-state program providing health care services to certain low-income, elderly, and disabled people...
King, Elizabeth; Patrinos, Harry; Rogers, Halsey
The aim of the SABER-school finance initiative is to collect, analyze and disseminate comparable data about education finance systems across countries. SABER-school finance assesses education finance systems along six policy goals: (i) ensuring basic conditions for learning; (ii) monitoring learning conditions and outcomes; (iii) overseeing…
Cornman, Stephen Q.; Zhou, Lei; Ampadu, Osei; D'Antonio, Laura; Gromos, David; Wheeler, Stephen
This report presents school-level finance data on expenditures by function from the School-Level Finance Survey (SLFS). The SLFS is an extension of two existing collections being conducted by the National Center for Education Statistics (NCES) in collaboration with the Census Bureau: the School District Finance Survey (F-33) and the state-level…
Kane, Thomas J.; Orszag, Peter R.; Gunter, David L.
This study used state-level data on expenditures since 1977 to study the forces underlying the shift in state financing of higher education. The focus is on interactions between state appropriations for higher education, other state budget items, especially Medicaid, and the business cycle. The first section documents the substantial decline in…
This paper presents education finance trends for Bangladesh since 2000. It shows that while government spending on education as a proportion of national income has stagnated, it has increased in real terms. Real increases in education spending have resulted in substantial increases in per student spending in basic education. At primary, enrolment…
Golden, April Michelle
Providing inclusive and equitable quality education for all children will require sustained cooperation and investment from donor and partner nations worldwide. As a multi-stakeholder funding mechanism, the Global Partnership for Education (GPE) is an important Education Diplomacy model. The 2018 Dakar Financing Conference is a vibrant…
West, Anne; Sparkes, Jo; Balabanov, Todor
The use of demand-side financing mechanisms and vouchers for postcompulsory secondary-level education was examined through case studies of funding practices in the following countries: Austria; France; the United Kingdom; the United States; and Wallonia (the French community of Belgium). Different models of voucher use were identified in the…
The aim of the SABER-school finance initiative is to collect, analyze and disseminate comparable data about education finance systems across countries. SABER-school finance assesses education finance systems along six policy goals: (i) ensuring basic conditions for learning; (ii) monitoring learning conditions and outcomes; (iii) overseeing service delivery; (iv) budgeting with adequate an...
Full Text Available In countries where agriculture has substantial role in generating domestic product, sustainable agro-finance can seriously increase economic development. It is well known that agriculture is perceived as risky to be financed by commercial banks. Therefore, creating specific agro-credit lines within state development banks is key element in enhancing agricultural activities. These state development banks, operating in close collaboration with the Government have a significant role in accelerating economic welfare of farmers and rural poor. This study tends to emphasize the importance of creating special lending products targeted towards agriculture. The focus will be put on comparison between the first pillar – direct lending to agriculture and second pillar – lending to agriculture through commercial banks showing the better viability of the later.
State of Hawaii Department of Education, 2005
This annual financial report of the Department of Education is prepared each year to inform interested persons of the total cost of public education in the state of Hawaii. The financial report provides both Operating and Capital Improvement Project fund information that is useful in presenting our educational system financing, expenditures and…
Guthrie, James W.
This article contends that a new concept of education finance has emerged in response to substantial alterations in the U.S. education policy environment. The major distinction between modern and old is that the latter was principally concerned with arrangements of inputs in K-12 schooling. The former, modern-era education finance, is concerned…
This presentation from a Solar Utilization in Higher Education Networking and Information webinar covers financing and project economics issues related to solar project development in the higher education sector.
Lin, Tingjin; Zhang, Shujian; Shi, Shuai
Comparative analyses of basic education financing among districts and counties within Shanghai municipality show that basic education in the developed city is as fiscally unequal as it is in other provincial administrative areas. But the tendency to expand education disparities in Shanghai has been reversed since 2005 owing to the education…
Californians are very concerned about funding for their K-12 public schools. They consistently say that K-12 education should be protected from spending cuts over and above any other area of the state budget. California's system of school finance is in trouble. Many studies have found it to be inequitable, with wide variation in per-pupil funding.…
Leventis, Greg [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Fadrhonc, Emily Martin [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Kramer, Chris [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Goldman, Charles [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)
In recent years there has been significant growth in the size and sheer number of energy efficiency financing programs. The term “energy efficiency financing” refers to debt or debt-like products that support the installation of energy efficiency measures by allowing costs to be spread over time. The implementation of the American Recovery and Reinvestment Act (ARRA) led to a proliferation of energy efficiency financing programs, which was followed in subsequent years by the launch of green banks in several states and the ramp up of other ratepayer-supported financing initiatives in various jurisdictions. These activities have brought increased attention to energy efficiency financing as an area of programmatic interest. Yet the propagation of various types of financing in a growing number of markets may have also left some policymakers and program administrators with questions as to what categories of products and programs are best suited for their situation.
Over the past few decades Islamic finance has been the fastest growing segment of the global system. The fast growing market has necessitated corresponding expansion of education and training facilities to increase appropriately the supply of skilled manpower. This called for a stock taking of the adequacy and suitability of the existing educational and training facilities in several directions. IRTI has launched a project to accomplish this work. The present working paper looks at the range,...
Over the past few decades Islamic finance has been the fastest growing segment of the global system. The fast growing market has necessitated corresponding expansion of education and training facilities to increase appropriately the supply of skilled manpower. This called for a stock taking of the adequacy and suitability of the existing educational and training facilities in several directions. IRTI has launched a project to accomplish this work. The present working paper looks at the range,...
Christiansen, Charlotte; Nielsen, Helena Skyt
on type and level of education enables us to focus on the shared features between human capital and stock investments. An innovative finance-labor approach is applied to study the educational asset market. A risk-return trade-off is revealed which is not directly related to the length of education.......Like the stock market, the human capital market consists of a wide range of assets, i.e. educations. Each young individual chooses the educational asset that matches his preferred combination of risk and return in terms of future income. A unique register-based data set with exact information...
Salmi, Jamil; Hauptman, Arthur M.
In recent decades, a growing number of countries have sought innovative solutions to the substantial challenges they face in financing tertiary education. One of the principal challenges is that the demand for education beyond the secondary level in most countries around the world is growing far faster than the ability or willingness of…
van Klingeren, M.; Orozco, M.; van Spanje, J.; de Vreese, C.
This study has been prepared by the Amsterdam School of Communication Research (ASCoR), part of the Faculty of Social and Behavioural Sciences, University of Amsterdam (UvA). It comprises 1) an up-to-date inventory of party finance rules within the EU Member States, 2) an overview of the regulations
Top Department of Administration logo Alaska Department of Administration Division of Finance Search Search the Division of Finance site DOF State of Alaska Finance Home Content Area Accounting Charge Cards You are here Administration / Finance Division of Finance Updates IRIS Expenditure Object Codes
Duca Ioana; Postole Mirela-Anca; Ciobanasu Marilena
The scientific steps taken by the authors emphasize the importance of higher education financing by the diversification of financing sources and their correlation with the social dimension. Besides the analysis of the social dimension concept, the research also approaches its application by opening the opportunities offer for more members of society to be involved in the higher education system. Furthermore the authors of the research present some financing models, pointing out the performanc...
Baker, Bruce D.
The Great Recession's effect on state school finance systems was unlike previous downturns in the early 1990s and early 2000s in that it: a) involved a greater loss of taxable income in many states, thus greater loss to state general fund revenues, b) also involved a substantial collapse of housing markets and related reduction or at least…
This study analyzes and explains Florida's education finance system. It explains the sources of revenue and the expenditure of funds, reporting figures for each of the state's 67 districts. It also analyzes the trend in current expenditures --that is, the day-to-day operating costs of schools--to address the question of whether they have been…
... Financing § 170.300 May tribes use flexible financing to finance IRR transportation projects? Yes. Tribes may use flexible financing in the same manner as States to finance IRR transportation projects, unless... 25 Indians 1 2010-04-01 2010-04-01 false May tribes use flexible financing to finance IRR...
Lee, Grace M; Santoli, Jeanne M; Hannan, Claire; Messonnier, Mark L; Sabin, James E; Rusinak, Donna; Gay, Charlene; Lett, Susan M; Lieu, Tracy A
The number of new vaccines recommended for children and adolescents has nearly doubled during the past 5 years, and the cost of fully vaccinating a child has increased dramatically in the past decade. Anecdotal reports from state policy makers and clinicians suggest that new gaps have arisen in financial coverage of vaccines for children who are underinsured (ie, have private insurance that does not cover all recommended vaccines). In 2000, approximately 14% of children were underinsured for vaccines in the United States. To describe variation among states in the provision of new vaccines to underinsured children and to identify barriers to state purchase and distribution of new vaccines. A 2-phase mixed-methods study of state immunization program managers in the United States. The first phase included 1-hour qualitative telephone interviews conducted from November to December 2005 with 9 program managers chosen to represent different state vaccine financing policies. The second phase incorporated findings from phase 1 to develop a national telephone and paper-based survey of state immunization program managers that was conducted from January to June 2006. Percentage of states in which underinsured children are unable to receive publicly purchased vaccines in the private or public sectors. Immunization program managers from 48 states (96%) participated in the study. Underinsured children were not eligible to receive publicly purchased meningococcal conjugate or pneumococcal conjugate vaccines in the private sector in 70% and 50% of states, respectively, or in the public sector in 40% and 17% of states, respectively. Due to limited financing for new vaccines, 10 states changed their policies for provision of publicly purchased vaccines between 2004 and early 2006 to restrict access to selected new vaccines for underinsured children. The most commonly cited barriers to implementation in underinsured children were lack of sufficient federal and state funding to
Dishman, Mike; Redish, Traci
Prior to the United States Supreme Court's decision in "Brown v. Board of Education" (1954), educational finance litigation focused almost entirely on the equitable distribution of state educational financing, ending preferential disbursement of state funds. This ended in 1973, with the United States Supreme Court's decision in "San…
Hill, Laura; Warren, Paul; Murphy, Patrick; Ugo, Iwunze; Pathak, Aditi
California's system of special education served about 718,000 students in 2014-15, or about 11.5 percent of the K-12 population. It is expensive, consuming some $12 billion in federal, state, and local dollars annually. Special education operates within a legal framework that sets it apart from the rest of the K-12 system. The state's enactment of…
Chukwu, Leo C.; Chinyelugo, Agada Fidelia; Eze, S. G. N.
The paper explained the concept university and the objectives of university education. Sustainable development and its purpose were then explained. The paper went further to analyze the various sources of financing the universities, including; the governments, endowment, and consultancy amongst others. The role of the universities in the…
Lucey, Thomas A.; Bates, Alan
This article describes findings from a research survey that measured agreement with items that concerned financial morality. The authors analyzed the responses of 382 teacher education majors and finance majors at a Midwestern institution of higher learning in the USA. The study found highest agreement with items measuring business…
Wong, Phoebe; Ng, Peggy M. L.; Mak, Connie K. Y.; Chan, Jason K. Y.
The higher education sector in Hong Kong has restructured substantially from elite to mass higher education since the introduction of education reform by the Hong Kong government in 2000. To stay ahead in this competitive environment in the education sector, management teams of self-financing institutions have to compete for students and identify…
This paper studies the trends in the financing of elementary education in India over the past decade. In 1994 the Indian Supreme Court issued a directive to universalize free and compulsory elementary education, but that in a changing economic milieu where social service expenditures have often been reduced in other countries, it is important to…
Fisher, Ronald C.; Papke, Leslie E.
Provides a primer for policymakers about the economics of education grants and draws implications for school finance reform. Includes an overview of the types of education grants that states and the federal government have used to aid local spending and summarizes findings from states' experiences with different forms of education finance.…
Streams, Meg; Butler, J. S.; Cowen, Joshua; Fowles, Jacob; Toma, Eugenia F.
Kentucky is a poor, relatively rural state that contrasts greatly with the relatively urban and wealthy states typically the subject of education studies employing large-scale administrative data. For this reason, Kentucky's experience of major school finance and curricular reform is highly salient for understanding teacher labor market dynamics.…
Multimedia / Photos Videos Publications Bloggers DoD Websites Personal Finance Resources As part of the finance director said here recently. Story Security Expert Advises Troops to Safeguard Personal, Financial education in personal finance that commanders say goes a long way in promoting battle readiness. Story
This nation has experienced repeated energy crises during the past decade but, in spite of the announcement of grandiose national plans, still does not have an integrated national energy policy. The basic elements of such a policy in simplified form are: development of a common data base; a national fuels policy; electrical need determination (other fuel need determination); plant site and transmission corridor locations; site approval; construction supervision and management of secondary environmental costs; and continuing environmental monitoring of operating plants. The financing of energy planning depends on the assignment of lead responsibility for each element of energy policy making and the intergovernmental relationships involved. Several financial sources are required including Federal general appropriations, state general funds, and applicant fees. The recommended basic financing, however, would flow from a Federal Energy Tax (F.E.T.) coupled with tax credit provisions for state efforts
Sims, David P.
"Rose v. Council for Better Education" (1989) is often considered a transition point in education finance litigation, heralding an era of increasing concern for measurable adequacy of education across a broad spectrum of student needs. Prior research suggests that post-Rose lawsuits had less effect on the distribution of school spending…
Full Text Available A quality education system improves human resources, without which there is no economic growth. On the other hand, the state faced with the economic crisis or recession has limited possibilities of funding the budget expenditures. All countries pay special attention to the question of funding education. This issue is even more important in our country, considering the long-time economic recession or (rather crisis, as well as the disturbingly low level of economic activity and increasing social differences. Increasing the number of graduates without enhancing the quality of knowledge does not lead to an increase in the parameters of economic growth. Investing in human capital, as a condition for increasing productivity means investing in knowledge, not in a diploma. In this sense, responsible countries are expected to build a quality education system, regardless of the number of public and private institutions. The quality of the education system in a country is conditioned by the mode of its financing, i.e. by the division of responsibilities between the republic and local authorities (or other levels of government. The organization and financing of education has been transferred to the jurisdiction of lower territorial units, which may lead to significant disparities in the quality of education of the population of a country. The issue of education must be addressed at the national level, given the big differences in the development and budgetary possibilities of local governments. Even local communities that have the same financial capacities can differently allocate resources for education, depending on the evaluation of different priorities. The basic characteristics of funding education in our country are: modest budgetary possibilities, an impression that education is a burden rather than a long-term investment for our country, and the fact that the participation of education in the national budget and the total public expenditure is
Hoadley, Susan; Wood, Leigh N.; Tickle, Leonie; Kyng, Tim
Purpose: The purpose of this paper is to investigate and identify threshold concepts that are the essential conceptual content of finance programmes. Design/Methodology/Approach: Conducted in three stages with finance academics and students, the study uses threshold concepts as both a theoretical framework and a research methodology. Findings: The…
Bluestone, Barry; And Others
A proposal written by a group of economists suggests investing a portion of the Social Security surplus in a revolving loan fund designed to enable American students and workers to finance their own post-secondary education, vocational training, or re-training. The plan would make available to every American a line of credit to finance the costs…
Under the leadership of the Department of Energy Hydrogen and Fuel Cells program, Clean Energy States Alliance (CESA) educated and worked with state leaders to encourage wider deployment of fuel cell and hydrogen technologies. Through outreach to state policymakers, legislative leaders, clean energy funds, energy agencies, and public utility commissions, CESA worked to accomplish the following objectives of this project: 1. Provide information and technical assistance to state policy leaders and state renewable energy programs in the development of effective hydrogen fuel cell programs. 2. Identify and foster hydrogen program best practices. 3. Identify and promote strategic opportunities for states and the Department of Energy (DOE) to advance hydrogen technology deployment through partnerships, collaboration, and targeted activities. Over the three years of this project, CESA, with our partner National Conference of State Legislatures (NCSL), was able to provide credible information on fuel cell policies, finance, and technical assistance to hundreds of state officials and other stakeholders. CESA worked with its membership network to effectively educate state clean energy policymakers, program managers, and decision makers about fuel cell and hydrogen technologies and the efforts by states to advance those technologies. With the assistance of NCSL, CESA gained access to an effective forum for outreach and communication with state legislators from all 50 states on hydrogen issues and policies. This project worked to educate policymakers and stakeholders with the potential to develop and deploy stationary and portable fuel cell technologies.
Abdullahi, N. J. K.; Abdulkareem, A. Y.
This study investigated strategies of financing universal basic education for sustainable national development by school managers in North-Central Zone, Nigeria. Specifically the purpose was to determine the relationship between commercial based income and sustainable national development as well as to examine the relationship between agricultural…
Schwabe, Paul D. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Feldman, David J. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Settle, Donald E. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Fields, Jason [National Renewable Energy Lab. (NREL), Golden, CO (United States)
In the United States, investment in wind energy has averaged nearly $13.6 billion annually since 2006 with more than $140 billion invested cumulatively over that period (BNEF 2017). This sizable investment activity demonstrates the persistent appeal of wind energy and its increasing role in the U.S electricity generation portfolio. Despite its steady investment levels over the last decade, some investors still consider wind energy as a specialized asset class. Limited familiarity with the asset class both limit the pool of potential investors and drive up costs for investors. This publication provides an overview of the wind project development process, capital sources and financing structures commonly used, and traditional and emerging procurement methods. It also provides a high-level demonstration of how financing rates impact a project's all-in cost of energy. The goal of the publication is to provide a representative and wide-ranging resource for the wind development and financing processes.
Full Text Available Public preschool educational institutions in Slovenia are mostly financed by public money, it means bay state and municipalities. They are also financed by parents. So, it is important that preschool institutions are using public money transparent and responsible, for this reason public preschool institution should have internal controls in financing. The internal auditor as independent professional should verify if internal controls works. The purpose of this paper is to investigate how internal controls in financing public educational institution works it means which internal controls are important in financing the preschool institution - on the selected institution to show and check how internal controls work. For this reason we divide internal controls in the financing in two phases: (1 internal controls in the preparation of the annual financial plan and financial planning of financial resources for institution’s programs and activities, (2 internal controls in obtaining financial resources. We used methods of internal auditing and research approaches as sampling, unstructured interviews and analysis of documents. The results showed that selected preschool institution should work on rules of recovery and monitoring of claims. The findings provide useful academic insight to setting internal controls as well as practical guidance for preschool institutions.
Leach, John; Payne, A. Abigail; Chan, Steve
Over the last 20 years, states and provinces have become increasingly involved in the financing and administration of elementary and secondary education. Local school boards, however, still retain control over key aspects of the provision of education. Historically, these boards were organized at the community level so as to meet the wants of the…
Fujishiro, Kaori; Farley, Amy N; Kellemen, Marie; Swoboda, Christopher M
Social policies that are not specifically aimed at impacting health can still have health consequences. State education reforms, such as standardized testing and stringent accountability for schools and teachers, may affect teacher health by changing their working conditions. This study explores associations between state education initiatives and teachers' sleep, an important predictor of productivity and chronic health conditions. The Behavioral Risk Factor Surveillance System 2013 and 2014 data sets provided sleep and demographic data for 7836 teachers in 29 states in the United States. We linked the teacher data to state education reform data from the U.S. Department of Education. Logistic regression was used to estimate odds ratios (ORs) of reporting inadequate sleep (i.e., state education policies after adjusting for demographic characteristics. Teachers had significantly higher odds of reporting inadequate sleep if their state financed professional development, sanctioned or rewarded schools based on student performance, and regulated classroom materials for state-wide common core standards (ORs ranging from 1.25 to 1.84). More strictly defined inadequate sleep (states to implement reforms through regulations and legislations, was also associated with inadequate sleep (OR = 1.41, p state education policies may have impacts on teacher sleep. Consequences of education reform for teacher health deserve more attention. Published by Elsevier Ltd.
Foster, Laura Rasmussen; Klein, Steve; Elliott, Barbara
The "Carl D. Perkins Career and Technical Education Act of 2006" ("Perkins IV" or "Act") authorizes federal funding for career and technical education (CTE) and specifies a formula for distributing those funds. Allocations at the secondary level are based on the number of youths ages 5-17 who reside within a local…
... DEPARTMENT OF EDUCATION Assistive Technology Alternative Financing Program AGENCY: Office of Special Education and Rehabilitative Services, Department of Education. ACTION: Notice. Catalog of Federal... developed for the Assistive Technology (AT) Alternative Financing Program (AFP) in fiscal year (FY) 2012 to...
Bailit, Howard L; Beazoglou, Tryfon
This article examines dental school financial trends from 2004-05 to 2011-12, based on data from the American Dental Association (ADA) annual financial survey completed by all U.S. dental schools. For public schools, revenues from tuition and fees increased 68.6%, and state support declined 17.2% over the examined period. For private schools, revenues from tuition and fees increased 38.9%, and university indirect subsidies declined 77.9% over the same period. The major factors affecting dental school expenditures were the number of students and postdoctoral students, faculty practice, and research. The findings suggest that dental schools are now more dependent financially on tuition and fees than in the past. Schools have been able to pass on increases in operating costs to students and specialty postdoctoral students. Now that growth in dentists' incomes is slowing and student debt is at an all-time high, this financing strategy may not be sustainable in the long run. This article was written as part of the project "Advancing Dental Education in the 21 st Century."
Healey, F. Henry; Crouch, Luis; Hanna, Rafik
Egypt, currently in the throes of major political change, will likely undergo reforms of various sorts in the next few years. Some of these reforms are likely to give local entities, including schools, greater control over education finances. In 2007, the Government of Egypt began to decentralize some non-personnel recurrent finances from the…
Balderston, F. E.
The paper discusses alternative forms of financing for postsecondary education. Most will agree that higher education is too costly to leave to the natural devices of the marketplace. The basic fiscal alternatives are: (1) to privatize the offerings of educational services and the decision to buy them; (2) to make the offering of educational…
Full Text Available The article is devoted to the problem of assessing the quality of higher education. In the Russian Federation recently quality assessment of educational services provided by state-accredited universities is carried out by the state represented by the Ministry of education and science. State universities have simulated internal systemseducation quality assessment in accordance with the methodology proposed by the Ministry of education and science. Currently more attention is paid to the independent assessment of education quality which is the basis of professional public accreditation. The project "EQUASP" financed within the framework of the TEMPUS programme is directed to the problem of implementing the methodology of the online model of independent higher education quality assessment in the practice of Russian universities. The proposed model for assessing the quality of education is based on usage of 5 standards. The authors have done a comparative analysis of the model of higher education quality assessment existing in Vyatka State University and the model of education quality assessing offered by European universities-participants of the project EQUASP. The authors have presented the main results of investigation of this problem and some suggestions for improving the model of education quality assessment used by Vyatka State University.
... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Financing. 883.307 Section 883.307... § 883.307 Financing. (a) Types of financing. A State Agency that used the Fast Track Procedures formerly in this part must provide permanent financing for any new construction or substantial rehabilitation...
Ito, Kristin E; Gizlice, Ziya; Owen-O'Dowd, Judy; Foust, Evelyn; Leone, Peter A; Miller, William C
Despite public debate about the content of sexuality education in schools, state and federal policy has increasingly financed and legislated abstinence-only education over the past decade. Although public schools strive to meet the needs of parents who, as taxpayers, fund the educational system, little is known about parental desires regarding sexuality education in states with mandated abstinence education. The objective of this study was to assess parental opinion about sexuality education in public schools in North Carolina, a state with mandated abstinence education. Computer-assisted, anonymous, cross-sectional telephone surveys were conducted among 1306 parents of North Carolina public school students in grades K-12. Parental support for sexuality education in public schools and 20 sexuality education topics was measured. We defined comprehensive sexuality education as education that includes a discussion of how to use and talk about contraception with partners. Parents in North Carolina overwhelmingly support sexuality education in public schools (91%). Of these respondents, the majority (89%) support comprehensive sexuality education. Less than a quarter of parents oppose teaching any specific topic, including those typically viewed as more controversial, such as discussions about sexual orientation, oral sex, and anal sex. Parents' level of education was inversely related to support for specific sexuality education topics and comprehensive education, although these differences were small in magnitude. More than 90% of respondents felt that parents and public health professionals should determine sexuality education content and opposed the involvement of politicians. Current state-mandated abstinence sexuality education does not match parental preference for comprehensive sexuality education in North Carolina public schools.
Puttick, Edwin B.; And Others
The educational system in Bangladesh is unique in its finance and management structure. Elementary and higher education are mostly publicly financed, while secondary and intermediate education are mainly private organized. This study concentrates on private schools at the secondary, intermediate, and college level; and the difference in access…
Rautiainen, Elina; Vallimies-Patomäki, Marjukka
The aim of this study was to generate information of postgraduate education in clinical nursing in the EU member states. Data were collected via a structured electronic questionnaire and the questionnaire was sent to the government chief nurses in 26 EU countries in May 2013. Response rate was 46% (n=12). In total, 42 domains of specialization were identified. The most common domains were intensive care, mental health, operating room, emergency care, and pediatrics. Specialization programs were organized by university in two of the respondent countries, as residency program in one country, and as a mix of them in four countries. Regulation practices varied remarkably between the countries: scope of practice, subjects, entry requirements, length of education, description of the minimum competence requirements, and education standards related to the specialization programs were most often regulated by act, decree or other regulation. In some of the countries, no registration was required beyond the initial registration, whereas in some others, registration practices varied depending on the specialization program. New information was gathered on the regulation practices of postgraduate education in clinical nursing in the European Region concerning title provision, entry requirements, and financing practices. The awarded title on specialization programs depended on the level of postgraduate education, and the title might vary between the domains. General clinical experience was included in the entry requirements in seven countries. The government was mainly responsible for financing the postgraduate education in four countries, employer in three countries, and in the rest of the countries, there was a combination of different financiers. The importance of knowledge exchange on postgraduate education across the European countries needs to be acknowledged. Information provided by this study on international regulation practices provides useful information for the policy
Hoffman, Michael J.; Wiggall, Richard L.; Dereshiwsky, Mary I.; Emanuel, Gary L.
Adequate funding for the nation's schools to meet the call for higher student achievement has been a litigious issue. Spending on schools is a political choice. The choices made by state legislatures, in some cases, have failed to fund schools adequately and have incited school finance lawsuits in almost all states. These proceedings are generally…
Full Text Available The federal arrangement post Constitution comes indicating greater accountability of federal units and municipalities in the implementation of social policies at the same time as it gave greater autonomy in tax collection. From the 2000s, the new rules of social policies in education, health and social assitance has required a greater effort of budgetary resources of the states, the Federal District and municipalities, without the creation or injection of additional tax revenue. In social policies, important legislative changes mark the first decade of this century in Brazil with direct implications on federal arrangement and therefore the co-financing of social policies. The main objective of this article is to analyze the amount of funds invested by the federal government, states, Federal District and municipalities in budget functions: social assistance, health and education, from 2002 to 2012, highlighting the co-financing these social policies. As well as to identify some obstacles created by the fiscal adjustment underway in the country to expand the co-financing of social policies.
Thompson, Kris; Coon, Jill; Handford, Leandrea
With the move to the doctor of physical therapy (DPT) degree and increasing tuition costs, there is concern about financing entry-level education. The purposes of this study were to identify how students finance their DPT education and to describe the financial impact after graduation. A written survey was used to collect data on financing DPT education, student debt, and the financial impact on graduates. There were 92 subjects who had graduated from one program. Frequencies as well as nonparametric statistics using cross-tabulations and chi-squared statistics were calculated. The response rate was 55%. Of the respondents, 86% had student loans, 66% worked during school, 57% received some family assistance, and 21% had some scholarship support. The amount of monthly loan repayment was not statistically related to the ability to save for a house, the ability to obtain a loan for a house or car, or the decision to have children. Saving for the future (p = 0.016) and lifestyle choices (p = 0.035) were related to the amount of monthly loan repayment. Major sources of funding were student loans, employment income, and/or family assistance. Respondent's ability to save for the future and lifestyle choices were negatively impacted when loan debt increased. Physical therapist education programs should consider offering debt planning and counseling.
Egan, M C; Kaufman, M
Budget deficits and inflationary medical care costs threaten nutrition services, which until recently have been funded largely by federal, state, and local revenues. Nutritionists and dietitians responding to demands in the marketplace should develop innovative programs and pursue new sources for financing through the private sector, third-party payers, business/industry health promotion, and consumer fees for their services, as well as targeted federal, state, and locally funded food assistance, nutrition education, and health care programs. Trail-blazing dietitians are successfully offering their services in health maintenance organizations (HMOs), hospital or industry fitness programs, private practice, voluntary health agencies, and official agency programs. With the new federalism, nutritionists must articulate their role in comprehensive health care and market their services at the state and local levels in addition to the federal level. Nutrition services are defined to include assessment, planning, counseling, education, and referral to supportive agencies. Data management, managerial, and marketing skills must be developed for dietitians to compete effectively. Basic educational preparation and continuing education for practicing professionals must develop these competencies.
Leventis, G; Kramer, C; Schwartz, LC
Ensuring that low- and moderate-income (LMI) households have access to energy efficiency is equitable, provides energy savings as a resource to meet energy needs, and can support multiple policy goals, such as affordable energy, job creation, and improved public health. Although the need is great, many LMI households may not be able to afford efficiency improvements or may be inhibited from adopting efficiency for other reasons. Decision-makers across the country are currently exploring the challenges and potential solutions to ramping up adoption of efficiency in LMI households, including the use of financing. The report’s objective is to offer state and local policymakers, state utility regulators, program administrators, financial institutions, consumer advocates and other LMI stakeholders with an understanding of: -The relationship between LMI communities and financing for energy efficiency, including important considerations for its use such as consumer protections -The larger programmatic context of grant-based assistance and other related resources supporting LMI household energy efficiency -Lessons learned from existing energy efficiency financing programs serving LMI households -Financing products used by these programs and their relative advantages and disadvantages in addressing barriers to financing or to energy efficiency uptake for LMI households
Clement, Thomas; LeMire, Steven; Silvernagel, Craig
The authors examine whether U.S. college-level entrepreneurship education demonstrates a bias favoring venture capital (VC) financing while marginalizing trade credit financing, and the resulting impact on entrepreneurship students. A sample of U.S. business textbooks and survey data from entrepreneurship students reveals a significant bias toward…
Baker, Bruce; Levin, Jesse
Pennsylvania has historically operated one of the nation's least equitable state school finance systems, and within that system exist some of the nation's most fiscally disadvantaged public school districts. The persistent inequalities of Pennsylvania's school finance system are not entirely a result of simple lack of effort, as policies intended…
Cezar Corneliu MANDA
Full Text Available The paper, on the coordinates of the analysis of the problematic of financing culture institutions within the European Union member states, performs a comparative analysis focused on the financing mechanism available to the cultural sector, created both at the level of the public, and of the private sector. For the comparative analysis, the paper selected several EU member states, grouped on four geographical areas (North, South, East and Center. The analysis performed in the paper emphasized that most EU member states make significant efforts to finance the cultural sector, but the effects of the economic crisis have had a negative impact on this financing, causing, from this perspective, a gap between the states in the north and center of the EU, on the one hand, and the states in the south and east of the EU, on the other hand and outlining a cultural Europe with two peripheries.
Full Text Available Healthcare in Poland is mainly financed by public sector entities, among them the National Health Fund (NFZ, state budget and local government budgets. The task of the National Health Fund, as the main payer in the system, is chiefly currently financing the services. The state budget plays a complementary role in the system, and finances selected groups of services, health insurance premiums and investments in healthcare infrastructure. The basic role of the local governments is to ensure access to the services, mostly by performing ownership functions towards healthcare institutions.
Branko Matic; Hrvoje Serdarusic; Maja Vretenar Cobovic
The authors examine the impact of changed economic circumstances to manage personal finances. Analyze financial involvement, level of education and the management of personal finances population in Croatia. The paper used the method of analysis, synthesis, induction, deduction, and a survey poll.
Analysis of Project Finance Analysis of Project Finance NREL analysis helps potential renewable energy developers and investors gain insights into the complex world of project finance. Renewable energy project finance is complex, requiring knowledge of federal tax credits, state-level incentives, renewable
Byrne, Marann; Chughtai, Aamir Ali; Flood, Barbara; Willis, Pauline
The central aim of the present study was to examine the levels of job satisfaction among accounting and finance academics in Irish higher education institutions. Additionally, this research sought to uncover the factors linked to the overall job satisfaction of these teachers. The findings showed that while, participants were generally satisfied…
... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Unusual contract financing. 632.114 Section 632.114 Federal Acquisition Regulations System DEPARTMENT OF STATE GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 632.114 Unusual contract financing. The...
... 7 Agriculture 1 2010-01-01 2010-01-01 false Financing rural development planning. 22.306 Section... Responsibilities of State Governments § 22.306 Financing rural development planning. States will be required to finance rural development planning through their own resources, revenue-sharing allocations, or the...
Marriott, Pru; Tan, Siew Min; Marriott, Neil
Finance is a popular programme of study in UK higher education despite it being a challenging subject that requires students to understand and apply complex and abstract mathematical models and academic theories. Educational simulation is an active learning method found to be useful in enhancing students' learning experience, but there has been…
Student loans program is one of the most controversial phenomena in financing higher education in Ghana, but its importance as a cost sharing mechanism is incontestable. This paper describes the challenge of financing higher education in Ghana. It provides a critique of the Social Security and National Insurance Trust (SSNIT) Student Loans Scheme,…
Financing for power generation projects in the developing countries of the world has been provided by the United States Export-Import Bank. The loans provided by its new Project Finance Division, totalling $8.3 billion are described. The future of project financing for the power generation industry should, it is argued, rest not with government financing agencies, but with private sector financial markets. (UK)
Sheriffah Noor Khamseah Al-Idid Syed Ahmad Idid
Global energy security and climate change concerns sparked by escalating oil prices, high population growth and the rapid pace of industrialization are fueling the current interest and investments in nuclear power. Globally, a significant number policy makers and energy industry leaders have identified nuclear power as a favorable alternative energy option, and are presently evaluating either a new or an expanded role for nuclear power. The International Atomic Energy Agency (IAEA) has reported that as of October 2008, 14 countries have plans to construct 38 new nuclear reactors and about 100 more nuclear power plants have been written into the development plans of governments for the next three decades. Hence as new build is expected to escalate, issues of financing will become increasingly significant. Energy supply, including nuclear power, considered as a premium by government from the socio-economic and strategic perspective has traditionally been a sector financed and owned by the government. In the case for nuclear power, the conventional methods of financing include financing by the government or energy entity (utility or oil company) providing part of the funds from its own resources with support from the government. As national financing is, as in many cases, insufficient to fully finance the nuclear power plants, additional financing is sourced from international sources of financing including, amongst others, Export Credit Agencies (ECAs) and Multilateral Development Institutions. However, arising from the changing dynamics of economics, financing and business model as well as increasing concerns regarding environmental degradation , transformations in methods of financing this energy sector has been observed. This paper aims to briefly present on financing aspects of nuclear power as well as offer some examples of the changing dynamics of financing nuclear power which is reflected by the evolution of ownership and management of nuclear power plants
Ivana Bestvina Bukvić
Full Text Available At a time when public funding of culture is being reduced and increasing attention is being paid to profitability, it is essential to apply an entrepreneurial mindset and management principles to the guidance and the financing of cultural institutions. This paper focuses on the theatre funding scheme and presents a survey analysing the structure of funding theatres in Croatia by weighting budgetary and commercial funding, as well as analyses possible measures to be implemented in order to improve the theatre funding model. A survey was conducted in 2015, which found that public theatres are predominantly funded by budgetary resources (62.14%, while the most important part of the revenue and income section of private theatres originates from selling their own products and services (43.99%. Theatres believe that budgetary resources still need to remain the dominant sources of funding, but in order to increase the level of operational excellence, a change of direction would be necessary towards one’s own resources, including donations and sponsorships. At the same time, better solutions in terms of increasing tax incentives and tax deductions for both donations and sponsorships would result in an increase in their importance in the financing of theatres. The impact of state action on the funding and operation of theatres is unquestionable, but in theatres there is a need for developing a working knowledge in the fields of management and entrepreneurship in order to gradually reduce dependence, particularly of public theatres, on state action.
Goldblatt, Steven M.; Wood, R. Craig
This chapter presents an up-to-date analysis of prevailing state wage laws that affect educational facility construction or renovation and highlights relevant prevailing wage litigation in many states. Currently, 13 states have no prevailing wage laws for public works. The other 37 states and the District of Columbia do have prevailing wage laws…
Frolova, Victoria; Dolina, Olga; Shpil'kina, Tatyana
In the current conditions of global competition, the development of new mining technologies, the requirements to labor resources, their skills and creative potential are increasing. The tasks facing the mining industry cannot be solved without highly qualified personnel, especially managers, engineers and technicians, specialists who possess the knowledge and competences necessary for the development of science and technology of mining, and ensuring mining industrial safety. The authors analyze personnel problems and financing of mining higher education, conclude that there is a need to develop social partnership and diversify the sources of funding for training, advanced training and retraining of personnel for mining and processing of solid mineral deposits.
Full Text Available In the current conditions of global competition, the development of new mining technologies, the requirements to labor resources, their skills and creative potential are increasing. The tasks facing the mining industry cannot be solved without highly qualified personnel, especially managers, engineers and technicians, specialists who possess the knowledge and competences necessary for the development of science and technology of mining, and ensuring mining industrial safety. The authors analyze personnel problems and financing of mining higher education, conclude that there is a need to develop social partnership and diversify the sources of funding for training, advanced training and retraining of personnel for mining and processing of solid mineral deposits.
BUZOIANU Daniela Angela
Full Text Available In Petroleum and Gas University, besides teaching and research activities, a priority is non-formal education area. In the academic center of Ploiesti, the activities of non-formal education take place through Center for Porjects, Programs and Cultural - Artistic events (CPPECA and Student’s Culture House, located in the University campus (CCS. The mission of the Center for Projects, Programs and Cultural - Artistic events and Student’s Culture House is: - To offer a big diversity of activities in non-formal education area for students and teachers; - To become an essential and defining pillar in continous formation of young people. The purpose is to promote excellence also in non-formal education fied , starting from the value and tradition of university education in Romanian oil area The Center for Project, Programs and Cultural - Artistic events (CPPECA and Student’s House of Culture have: • An educational function; • A real multidirectional cultural vocation through: - initiating,implementing and developing cultural projects and programs; - organizing and developing specific events like shows, festivals, national and international contests. The paper presents practical aspects in development and implementation of financing projects in non-formal education field.
National Education Association, Washington, DC. Research Div.
The first of a series on school finance and the role of the state/local community, this document examines recent trends and developments in property taxation. The setting for property taxation and the state and local share of tax revenues for financing education are discussed. Two charts illustrate: (1) school district property tax collections…
Farhar, B C; Collins, N E; Walsh, R W
The purpose of this report is to document progress in state-level programs in energy efficiency financing programs that are linked with home energy rating systems. Case studies are presented of programs in five states using a federal pilot program to amortize the costs of home energy improvements. The case studies present background information, describe the states` program, list preliminary evaluation data and findings, and discuss problems and solution encountered in the programs. A comparison of experiences in pilot states will be used to provide guidelines for program implementers, federal agencies, and Congress. 5 refs.
Full Text Available Higher education is a mixed commodity. Considering its attribute, it is a service benefiting its users directly and society indirectly. Therefore it is necessary that higher education be catered continuously. In this context, higher education institutions should prompt the dynamics of societal development and lead the society toward better future. One of fundamental task for universities is to provide positive externalities for the entire society. However, universities often face important financial difficulties to extent the externalities they provide. In recent years alternative resources also are employed in financing higher education. For instance it is universally accepted application that some of the costs of higher education are accrued to the direct beneficiaries or the students. In some countries however higher education is solely funded by public resources because higher education in these countries is considered as public good. However in the recent years, a widespread belief suggests that public resources are not fit for efficient use, therefore alternative means of higher education finance are being explored. One such means appears to be an income-contingent system or student borrowing system. This method eases the burden of public finance and allows for students to assume a partial cost of higher education.
Full Text Available The theoretical foundations of financial management in the public sector of economy in the transition to budgeting focused on the result are considered. It is established that in the context of deepening market reforms, efficiency of public sector depends not on the size of the state property, but on the efficiency of public finance management.
Equal Educational Opportunity: Hearings Before the Select Committee on Equal Educational Opportunity of the United States Senate, Ninety-Second Congress, First Session on Equal Educational Opportunity. Part 19A--Equal Educational Opportunity in Michigan. Hearings Held Washington, D.C., Oct 26, and Nov 1-2, 1971.
Congress of the U.S., Washington, DC. Senate Select Committee on Equal Educational Opportunity.
Testimony was presented at these hearings by the following witnesses: Ronald Edmonds, assistant superintendent, School and Community Affairs, Michigan Department of Education; Dr. Daniel H. Kruger, professor, School of Labor and Industrial Relations, Michigan State University; Robert McKerr, associate superintendent, Business and Finance, Michigan…
Full Text Available The issue of mixed educational financing is rarely evoked in the literature, although the financial contribution of parents in the public educational system can be significant. This paper presents a comparative analysis of the mixed system and public and private ‘extreme’ systems in terms of economic growth and social disparity. For developing countries and for heterogeneous individuals, the mixed system is widely preferred. For homogeneous agents the public and private systems cannot lead to better economic performance than the mixed system. The public system always reduces social inequality, in contrast to the mixed and private systems, which generate the same level of inequality.
The study was on cooperative societies financing of agricultural enterprises in Mbaise Area of Imo State, Nigeria. The objectives includes, identification of sources of finance for the cooperative societies and types of agricultural enterprises financed, profitability of the enterprises and the members or loan beneficiaries ...
... 32 National Defense 5 2010-07-01 2010-07-01 false Financing. 705.19 Section 705.19 National Defense Department of Defense (Continued) DEPARTMENT OF THE NAVY UNITED STATES NAVY REGULATIONS AND OFFICIAL RECORDS PUBLIC AFFAIRS REGULATIONS § 705.19 Financing. (a) The financial requirements for...
Hickrod, G. Alan Karnes-Wallis; Ward, James Gordon
Two essays are presented in this monograph, the first in a series of publications examining educational finance and using Illinois data. After an introduction, the first essay replies to a "Forbes" magazine cover story on educational finance that asks if education is economically efficient. The central theme is that the maintenance of a…
Ovseiko, Pavel V; Buchan, Alastair M
The 2010-2015 Conservative and Liberal Democrat coalition government proposed introducing a radical decentralisation reform of the organisation, financing, and planning of medical workforce education and training in England. However, following public deliberation and parliamentary scrutiny of the government's proposals, it had to abandon and alter its original proposals to the extent that they failed to achieve their original decentralisation objectives. This failed decentralisation attempt provides important lessons about the policy process and content of both workforce governance and health system reforms in Europe and beyond. The organisation, financing, and planning of medical workforce education is as an issue of national importance and should remain in the stewardship of the national government. Future reform efforts seeking to enhance the skills of the workforce needed to deliver high-quality care for patients in the 21st century will have a greater chance of succeeding if they are clearly articulated through engagement with stakeholders, and focus on the delivery of undergraduate and postgraduate multi-professional education and training in universities and teaching hospitals. Copyright © 2015 Elsevier Ireland Ltd. All rights reserved.
Francisco López Segrera
Full Text Available Durante la pasada década, las posiciones del Banco Mundial se orientaron hacia la defensa de la orientación competitiva y de mercado de la educación superior, mientras que UNESCO reafirmó el estatuto de servicio público de ella y abogó por mantener un importante financiamiento estatal, con el objetivo de desarrollar una educación superior igualmente accesible a todos sobre la base del mérito. Este artículo es un ejercicio de educación superior internacional comparada. Presenta reflexiones sobre todo respecto a los siguientes temas: principales tendencias globales de la educación superior; modelos mundiales de financiamiento; visión global del financiamiento de las universidades; financiamiento, políticas de educación superior, cooperación internacional e internacionalización; financiamiento de la educación superior en Europa. En resumen, concluye que diversificar las fuentes de financiamiento es positivo y necesario, pero esto no debe implicar una reducción o abdicación del Estado en el financiamiento de la educación terciaria.During the past decade, the World Bank's higher education guidelines were geared towards competition and the market place, while Unesco reaffirmed the statute of its public service and advocated the importance of State financing, with the purpose of developing a higher education that is equally accessible to all and based on merit. This article is a comparison of international higher education. It presents considerations on the following topics: main global tendencies for higher education; world models of financing; global vision of university financing; financing, higher education policies, international cooperation and internationalization; higher education financing in Europe. In short, it concludes that diversifying the sources of financing is both positive and necessary, though this must not imply a reduction or abdication of the State in the financing of higher education.
Ryan, Sharon; Walker, Anne
Updated were statistics of an earlier study done by the Education Commission of the States (ECS) in 1980, entitled "The Missouri School Finance Study." The recent results differed from the earlier study's, illustrating the extent to which revenues per pupil depended on local property wealth and income. The results of the first study…
California's current school finance system is a tangled web of funding programs, restrictions, inequities and confusion. Building a stronger finance system to benefit from resources is an important step in strengthening California's K-12 education system and better meeting the needs of its students. Gov. Brown has recently proposed the Local…
Hoadley, Susan; Kyng, Tim; Tickle, Leonie; Wood, Leigh N.
Finance threshold concepts are the essential conceptual knowledge that underpin well-developed financial capabilities and are central to the mastery of finance. In this paper we investigate threshold concepts in finance from the point of view of students, by establishing the extent to which students are aware of threshold concepts identified by finance academics. In addition, we investigate the potential of a framework of different types of knowledge to differentiate the delivery of the finance curriculum and the role of modelling in finance. Our purpose is to identify ways to improve curriculum design and delivery, leading to better student outcomes. Whilst we find that there is significant overlap between what students identify as important in finance and the threshold concepts identified by academics, much of this overlap is expressed by indirect reference to the concepts. Further, whilst different types of knowledge are apparent in the student data, there is evidence that students do not necessarily distinguish conceptual from other types of knowledge. As well as investigating the finance curriculum, the research demonstrates the use of threshold concepts to compare and contrast student and academic perceptions of a discipline and, as such, is of interest to researchers in education and other disciplines.
The purpose of this study was to introduce the Education System of the United States of America (USA) and to compare it with the Turkish Education System. The Education System of the United States of America was held from different factors (e.g., education structure, curriculum and instruction, principal selection, educational supervision, special education ,teacher education, finance for education, international examinations, vs.) and these factors were explained under headlines in the study...
Le financement de l'éducation dans les collectivités locales, quels défis ? Marie Elisabeth Dembélé. Abstract. This article aims to analyse the support provided by the state to local collectivities in Mali, to target the expenditure categories included in the funding and observe their appropriation by the beneficiaries of education ...
Outlines the trends in educational funding patterns needed to enact educational reform. Local property taxes, state revenues, and federal aid continue to provide the bulk of financing. Includes two tables. (MD)
Behavioral finance substitutes normal people for the rational people in standard finance. It substitutes behavioral portfolio theory for mean-variance portfolio theory, and behavioral asset pricing model for the CAPM and other models where expected returns are determined only by risk. Behavioral finance also distinguishes rational markets from hard-to-beat markets in the discussion of efficient markets, a distinction that is often blurred in standard finance, and it examines why so many investors believe that it is easy to beat the market. Moreover, behavioral finance expands the domain of finance beyond portfolios, asset pricing, and market efficiency and is set to continue that expansion while adhering to the scientific rigor introduced by standard finance.
Full Text Available The objective of this Study was to investigate the opinions of graduate students on the level of quality of educational services at the Faculty of Finance and Banking in Sana’a. The researchers used a questionnaire to collect the data. The questionnaire consisted of six sections: textbooks, instructional aids, library services, faculty, admission and registration procedures, and infrastructure. The main research question focused the level of the quality educational services provided at the faculty of Finance and Banking in Sana’a. The population of the study consisted of 379 students where 150 were randomly selected. To answer the research question, the researchers used the descriptive method. to The research results showed that the students had a high satisfaction level of the services provided. In addition, the results showed that there were no differences among graduate students’ opinions based on gender, age, program, area of specialization, and payment of tuition fees. Keywords: Service quality, Faculty of finance and banking, Graduate studies.
Krupka Mykhaylo I.
Full Text Available The aim of the article is to analyze the world experience in using education and science in the processes of increasing the intellectual potential of the state and prospects of its application in Ukraine. The article describes features of the continental, Atlantic and the East Asian models of higher education management with emphasis on the key points, which can be useful for reforming the Ukrainian system of education. It has been noted that the problem of higher education quality in Ukraine lies in fundamental principles of its functioning, because development of the national education system for a long time took place under conditions of administrative system, while the European system of education is built on principles of competition and free market. On the basis of comparative characteristics of sources of finance in the United States there has been determined a dominant role of the federal government and it has been found that among the branches of science the leading positions are occupied by the life sciences. The experience of reforming science in countries of the Central and Eastern Europe, which took place on the model of functioning of the research institutes and research process in the EU countries, has been analyzed. Particular attention is paid to the successful experience of reforming the education and science in China. Taking into account the international experience the author has substantiated the directions of increasing the intellectual potential in Ukraine by deepening the integration of education and science, in particular: the creation of a wide network of research universities and conducting of a fair share of fundamental research on their base; accelerated development of public-private partnership in education and science; quick updating of the curricula adequate to the requirements of time and introduction of interdisciplinary courses; competitive financing of scientific programs with participation of the state and
Guthrie, James W.
This article describes the past 25 years of school finance policy reforms, illustrates tensions among various value proponents, and distills commonalities of reform efforts and their effects. Speculations on the probable points of conflict for the 1980s are provided. (Author/LC)
Swagerman, D.M.; van Steenis, Jorn; Sieber, Pascal; Griese, Joachim
The purpose of this paper is to present examples of the current state of the Shared Services Concept as applied to the finance function. The paper arises out of the ongoing research after current developments in the finance function enabled by information and communication technology, at the
LIN Justin Yifu; SUN Xifang
Informal finance exists extensively and has been playing an important role in small-and medium-sized enterprise (SME) financing in developing economies,This paper tries to rationalize the extensiveness of informal finance.SME financing suffers more serious information asymmetry to the extent that most SMEs are more opaque and can only provide less collateral.Informal lenders have an advantage over formal financial institutions in collecting "soft information" about SME borrowers.This paper establishes a model including formal and informal lenders and high-and low-risk borrowers with or without sufficient collateral and shows that the credit market in which informal finance is eliminated will allocate funds in some inefficient way,and the efficiency of allocating credit funds can be improved once informal finance is allowed to coexist with formal finance.
Claude DUPUY (GREThA UMR CNRS 5113); Matthieu MONTALBAN (GREThA UMR CNRS 5113); Sylvain MOURA (GREThA UMR CNRS 5113)
The transformations of the finance sector linked to the emergence of new actors (pension funds, mutual funds, hedge funds…) and its globalization have changed the rules of corporate governance and the competitive context of industrial companies. The theme of the influence between finance and industry is not new in the economic literature. The first thesis of the influence of finance on industry born in the United States (with the Veblen thesis) and Europe (Hilferding, 1910) with the developme...
Small business lending is big business and growing. Loans under $1 million totaled $460 billion in June 2001, up $23 billion from 2000. The number of loans under $100,000 continued to grow at a rapid rate, growing by 10.1%. The dollar value of loans under $100,000 increased 4.4%; those of $100,000-$250,000 by 4.1%; and those between $250,000 and $1 million by 6.4%. But getting a loan can be difficult if a business owner does not know how to find small business-friendly lenders, how to best approach them, and the specific criteria they use to evaluate a loan application. This is where the Geothermal Money Book comes in. Once a business and financing plan and financial proposal are written, the Geothermal Money Book takes the next step, helping small geothermal businesses locate and obtain financing. The Geothermal Money Book will: Explain the specific criteria potential financing sources use to evaluate a proposal for debt financing; Describe the Small Business Administration's (SBA) programs to promote lending to small businesses; List specific small-business friendly lenders for small geothermal businesses, including those which participate in SBA programs; Identify federal and state incentives which are relevant to direct use and small-scale (< 1 megawatt) power generation geothermal projects; and Provide an extensive state directory of financing sources and state financial incentives for the 19 states involved in the GeoPowering the West (GPW). GPW is a U.S. Department of Energy-sponsored activity to dramatically increase the use of geothermal energy in the western United States by promoting environmentally compatible heat and power, along with industrial growth and economic development. The Geothermal Money Book will not: Substitute for financial advice; Overcome the high exploration, development, and financing costs associated with smaller geothermal projects; Remedy the lack of financing for the exploration stage of a geothermal project; or Solve
... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Amount and terms of financing. 891... Handicapped-Section 8 Assistance § 891.525 Amount and terms of financing. (a) The amount of financing approved... financing provided shall not exceed the lesser of: (1) The dollar amounts stated in paragraphs (b) through...
... other financing. 515.208 Section 515.208 Money and Finance: Treasury Regulations Relating to Money and... REGULATIONS Prohibitions § 515.208 Restrictions on loans, credits and other financing. No United States... provide other financing for the purpose of financing transactions involving confiscated property the claim...
Deepak Kumar BEHERA; Umakant DASH
This paper investigates the long run impact of GDP and tax revenue on public health care expenditure using panel FMOLS and DOLS models for sixteen major states of India over the period 1980-2013. This study is more relevant in order to measure the progress in universal health care financing across the states of India because states are heterogeneous in terms of health care spending, associated with low tax bases and low level of GDP growth. The empirical result shows that healt...
Cory, K.; Coggeshall, C.; Coughlin, J.; Kreycik, C.
The goal of this report is to examine how federal agencies can finance on-site PV projects. It explains state-level cash incentives available, the importance of solar renewable energy certificate revenues (in certain markets), existing financing structures, as well as innovative financing structures being used by federal agencies to deploy on-site PV. Specific examples from the DOD, DOE, and other federal agencies are highlighted to explain federal project financing in detail.
Financial and economic crisis has challenged the ideological and methodological basis,the basic assumptions and the universal applicability of the research conclusions of the mainstream corporate finance.In order to construct corporate finance appropriate to the state of financial crisis,it is necessary to adjust the objective function of corporate finance,modify the corporate financing theory,extend corporate investment theory,enrich corporate working capital management theory,and adjust corporate dividend policy theory.
Full Text Available Turbulent economic environment after overwhelming the last crisis period is typical for present days as well as permanent increasing dependability of all our activities on information and communication technology (ICT. Although the global economic crisis was the reason for disinvestment into ICT in 2009 there is expected that ICT will generate almost 5.8 million new jobs in Europe till year 2013 and they have to be saturated also by adequately qualified ICT specialists.This contribution presents the research in the progress focused on the tertiary education system in the Czech Republic. We are predicting trends in education and especially in ICT education in Europe and in the Czech Republic as well for next ten years. We can expect that future ten years period will be critical not only for the Czech tertiary education system, but also for the Czech Republic because number of ICT students will be decreasing and number of ICT specialist demanded by labor market will be increasing. From macroeconomic point of view we can expect that also state subventions into state governed tertiary education system will decrease in the whole Europe.Some recommendations, proposals and forecasts for further development of education system are presented at the end of this contribution.
Ewing Marion Kauffman Foundation, Kansas City, MO.
This public policy report focuses on financing child care in the United States. The report contains brief articles on the following topics: (1) child care wages in comparison to other positions; (2) benefits to businesses when employees have high-quality child care; (3) resources for funding early education systems; (4) comparison of the cost of…
B. Krug (Barbara)
textabstractHow is "public finance" organized in China? Is China’s public finance system different from that of other countries? Can we detect features which link today’s system to the past? Public finance refers to more than annual state budgets and constitutional procedures. It includes foreign
Project financing is one of the best methods of seeking to acquire capitals Funds and other tools to finance a planned business activity which will yields profit in order to liquidate the procured fund. Financing project for SMES is carried out by Federal, States and some development Institutions. In Nigeria, project financing ...
Ahmad, Fahd A; White, Andrew J; Hiller, Katherine M; Amini, Richard; Jeffe, Donna B
This study aimed to assess residents' and fellows' knowledge of finance principles that may affect their personal financial health. A cross-sectional, anonymous, web-based survey was administered to a convenience sample of residents and fellows at two academic medical centers. Respondents answered 20 questions on personal finance and 28 questions about their own financial planning, attitudes, and debt. Questions regarding satisfaction with one's financial condition and investment-risk tolerance used a 10-point Likert scale (1=lowest, 10=highest). Of 2,010 trainees, 422 (21%) responded (median age 30 years; interquartile range, 28-33). The mean quiz score was 52.0% (SD = 19.1). Of 299 (71%) respondents with student loan debt, 144 (48%) owed over $200,000. Many respondents had other debt, including 86 (21%) with credit card debt. Of 262 respondents with retirement savings, 142 (52%) had saved less than $25,000. Respondents' mean satisfaction with their current personal financial condition was 4.8 (SD = 2.5) and investment-risk tolerance was 5.3 (SD = 2.3). Indebted trainees reported lower satisfaction than trainees without debt (4.4 vs. 6.2, F (1,419) = 41.57, p < .001). Knowledge was moderately correlated with investment-risk tolerance (r=0.41, p < .001), and weakly correlated with satisfaction with financial status (r=0.23, p < .001). Residents and fellows had low financial literacy and investment-risk tolerance, high debt, and deficits in their financial preparedness. Adding personal financial education to the medical education curriculum would benefit trainees. Providing education in areas such as budgeting, estate planning, investment strategies, and retirement planning early in training can offer significant long-term benefits.
Full Text Available Since its introduction, business rescue has become a critical consideration in business strategy decision making. One of the critical components of business rescue, which appears largely unsuccessful to date, involves securing post-commencement finance (PCF to restore the company’s financial health. Despite extensive theory in the literature on failure, there is a void regarding post-commencement finance. Specialist practitioners and financiers with extensive experience in rescue and turnaround were interviewed in this study. Findings showed that many critical factors and reasons for lack of interest are due to the newness of the South African Companies Act 71 of 2008 (introduced May 2011. These include business rescue filing being left too late; the poor financial state of the business that files for rescue; and the significant impact on the outcome by some of the key players (especially the financiers and business rescue practitioners. Better understanding of this aspect would be beneficial for creditors, rescue practitioners, shareholders, government regulators, court officials and educators alike. Key words: business rescue, post-commencement finance, turnaround, decision making
Introduction Previous studies have shown that Swiss health-care financing is particularly regressive. However, as it has been emphasized in the 2011 OECD Review of the Swiss Health System, the inter cantonal variations of income-related inequities are still broadly unexplored. The present paper aims to fill this gap by analyzing the differences in the level of equity of health-care system financing across cantons and its evolution over time using household data. Methods Following the methodology proposed by Wagstaff et al. (JHE 11:361–387, 1992) we use the Kakwani index as a summary measure of regressivity and we compute it for each canton and for each of the sources that have a role in financing the health care system. We graphed concentration curves and performed relative dominance tests, which utilize the full distribution of expenditures. The microdata come from the Swiss Household Income and Expenditure Survey (SHIES) based on a sample of the Swiss population (about 3500 households per year), for the years 1998 - 2005. Results The empirical evidence confirms that the health-care financing in Switzerland has remained regressive since the major reform of 1996 and shows that the variations in equity across cantons are quite significant: the difference between the most and the least regressive canton is about the same as between two extremely different financing systems like the US and Sweden. There is no evidence, instead, of a clear evolution over time of regressivity. Conclusions The significant variation in equity across cantons can be explained by fiscal federalism and the related autonomy in the design of tax and social policies. In particular, the results highlight that earmarked subsidies, the policy adopted to smooth the regressivity of the premiums, appear to be not enough; in the practice of federal states the combination of allowances with mandatory community-rated health insurance premiums might lead to a modest outcome in terms of equity. PMID
Hogan, Michael F; Drake, Robert E; Goldman, Howard H
Medicaid is now the main payment source and financing mechanism for services for adults with serious mental illness. Services formerly paid with state mental health funds have been converted to Medicaid, lightening the burden on state budgets affected by recession and other factors. The change has allowed states to maintain community care and inpatient services (in general hospitals). Medicaid service benefits include clinic and inpatient care, case management, and some rehabilitation services. But using Medicaid to finance some high-priority services such as supported employment has proven difficult. Now critical changes in Medicaid under the Affordable Care Act allow states to amend their Medicaid State Plans to provide more flexible services to people with serious mental illness. Advocacy and support may be needed to encourage this step. A national campaign to finance supported employment would join various stakeholders in the field, including professional organizations, family and service user groups, and organizations representing service providers. The authors of this editorial pledge their energies to support this campaign. They present suggestions for a campaign, including building a coalition, goals and targets, and online resources.
State and local governments interested in developing a financing program can use this Excel tool to support energy efficiency and clean energy improvements for large numbers of buildings within their jurisdiction.
This paper describes the status of the wind energy markets world-wide, in Europe and in the UK. It outlines the main methods of financing wind energy installations and discusses why different institutional structures have led to different markets in the UK and in Germany, with some concern about the state of the UK onshore industry. The paper looks ahead to the opening up of the potentially much larger offshore wind resource, concluding that in this area, existing UK development and financing structures are well suited. (Author)
Henning, Mary Beth; Lucey, Thomas A.
The authors conducted an online survey of elementary teacher education programs within a large midwestern state to assess preservice teachers' and teacher educators' beliefs about and preparedness to teach financial literacy. Very few preservice teachers had meaningful experiences with personal finance in high school, college, or personal decision…
Full Text Available The subject of this paper are bank accounts for public finance agencies income. The article describes characteristics of accounts for all three kinds of agencies: government and municipal units working in regards to statue of education and units with headquarters in foreign countries. The author presents a detailed directory of income for particular accounts and the allocation of said income. This paper also deals with the optionality of those dedicated bank accounts and the competence for erecting them. In a smaller scope there are presented the controversies of establishing bank accounts for public finance agencies income in the past, before the current statue of public finance.
Abekah-Nkrumah, Gordon; Abor, Patience Aseweh; Abor, Joshua; Adjasi, Charles K D
This paper aims to examine links between women's access to micro-finance and how they use maternal healthcare services in sub-Saharan Africa (SSA). The authors use theoretical and empirical literature to propose a framework to sustain and improve women's access to maternal healthcare services through micro-financing. It is found that improved access to micro-finance by women, combined with education may enhance maternal health service uptake. The paper does not consider empirical data in the analysis. The authors advocate empirically testing the framework proposed in other SSA countries. It is important to empower women by facilitating their access to education and micro-finance. This has implications for improving maternal healthcare utilization in SSA. The paper moves beyond poor access to maternal health services in SSA and proposes a framework for providing sustainable solutions.
公司金融学是金融学专业的核心主干课程,随着本科高等教育应用型人才培养的需要,其学科地位日益凸显.本文对公司金融的学科定位问题进行分析,对公司金融的理论体系进行了探讨,并对未来公司金融学发展方向做出展望.%Corporate finance is a core and main course for finance specialty, and its discipline position is increasingly highlighted with the demand of applied talent cultivation in undergraduate higher education. This paper analyzes the discipline orientation of corporate finance, explores the theory system of corporate finance, and makes a prospect of the future development of Corporate Fi-nance.
Yati Md Lasa
Full Text Available Project Financing Initiative (PFI projects require the private sector to invest an enormous amount of capital for the development of public projects. The private sector has to seek cost-effective financing sources for their survival in the long-term concession. Conventional financing uses widely; however, Islamic financing promises better financing through profit and loss sharing. This paper reviews financing preferences for PFI projects and the factors influencing the choice of funding. The results show that religious perspective, quality of services, financing facilities and reputation are the factors that are expected will influence the financing preference behaviour, either Islamic or conventional finance.
Herrera Zárate, M; González Torres, R
The economic crisis had had a profound effect on the finances of health services in Mexico. The expenditure on health has decreased, both in absolute terms and in relation to the national gross product. Funding problems have been aggravated by inequities in budget distribution: social security institutions have been favored; geographical distribution of resources is concentrated in the central areas of the country and in the more developed states, and curative health care has prevailed over preventive medicine. Administrative inefficiency hinders even more the appropriate utilization of resources. Diversification of funding sources has been proposed, through external debt, local funding, and specific health taxing. But these proposals are questionable. The high cost of the debt service has reduced international credits as a source of financing. Resource concentration at the federal level, and the different compromises related to the economic solidarity pact have also diminished the potentiality of local state financing. On the other hand, a special health tax is not viable within the current fiscal framework. The alternatives are a better budget planning, a change in the institutional and regional distribution of resources, and improvement in the administrative mechanisms of funding.
This presentation outlined the recent assignments, core competencies and scope of services provided by Alyra Renewable Energy Finance Advisors. Renewable energy developers seek Alyra's assistance in developing strategies to achieve the most competitive solutions in finance and strategy. Alyra has broad finance expertise in renewable energy projects, a deep knowledge of markets and a significant wind industry network. Alyra identifies emerging issues, completes financing solutions and helps with contract negotiations. This presentation outlined the notable features of wind financing, wind assessment, offtake arrangements, equity considerations, US wind debt markets, long term bank financing, and combined bank and private placement financing. It also included recent debt market activity for seven large wind farms in the United States. tabs., figs
Salmon, J. P.; Meurice, J.; Wobus, N.; Stern, F.; Duaime, M.
This guidebook is intended to facilitate further investment in conventional geothermal projects in the United States. It includes a brief primer on geothermal technology and the most relevant policies related to geothermal project development. The trends in geothermal project finance are the focus of this tool, relying heavily on interviews with leaders in the field of geothermal project finance. Using the information provided, developers and investors may innovate in new ways, developing partnerships that match investors' risk tolerance with the capital requirements of geothermal projects in this dynamic and evolving marketplace.
Full Text Available Fighting public-sector corruption has become a priority for most governments and international organizations. The public sector is the source of many benefits. Realizing improper private gains from these benefits has long been the core definition of corruption. As the public sector grows and expands its activities, the complexity of its activities also increases. The opportunities for improper private gains grow, too. Therefore, not surprisingly, the EU admits that the public sector, including political parties and public administrations, are especially vulnerable to corruption. Political parties, for instance, depend on the funding destined for their capability to win elections and otherwise to influence public policies. In turn, this dependency creates opportunities for a variety of corrupt activities. Ensuring that campaign funding promotes democracy and not corruption requires well-crafted, vigorously enforced laws. This article analyzes the legal framework of political party financing in the Eastern and South-eastern European EU member states, in order to assess how well it works in preventing political party corruption.
Discusses the role of educational leaders in a global society. Explains the globalization of technology, finance, production, and culture. Other topics include the withering away of the state, rebalancing states and markets, development as freedom, and the development as freedom for educational leaders. (Contains 32 references.) (PKP)
Hack, Walter G.
This report discusses several kinds of Federal aid to education and decides that a Federal foundation program is the best type. Arguments in favor of such a program are that (1) contemporary societal problems require a national policy (including a federally financed education program), (2) equity of financial responsibility for the educational…
A. G. Komissarov
Full Text Available Minor enterprises do not have resources sufficient for investment. Present experience of venture financing and attraction of funds from finance markets is poor in Russia. Main minor entrepreneurship financing sources are state allocations in the form of subsidies, subventionsand donations. This support promotes economics diversification and increases jobs. The state becomes client of innovations and provides for business environment favorable for minor entrepreneurship and for subsequent diffusion of innovations. One of most efficient innovationactivity stimulation methods (applied to minor enterprises as well is provision for tax privileges, favorable state bank credits and preferences to innovation activity supporting commercial banks.
Wulandari, Eliana; Meuwissen, Miranda P.M.; Karmana, Maman H.; Oude Lansink, Alfons G.J.M.
Analysing farmer knowledge of the requirements of finance providers can provide valuable insights to policy makers about ways to improve farmers’ access to finance. This study compares farmer knowledge of the requirements to obtain finance with the actual requirements set by different finance
Sussman, Jason H; Dziesinski, Ray R
Georgia's Southern Regional Medical Center used a proven corporate finance approach to dramatically improve its financial position and integrate its strategic and financial planning. Managers throughout the organization were educated about principles of corporate finance. Reliable cash-flow projections were used to create a multiyear glide path to financial stability. Initiatives were tied to specific time frames and quantifiable financial goals and underwent a standardized review process.
Full Text Available Nowadays in Romania, projects financed from nonrefundable external funds post-accession are an important additional source of funding for public institutions of academic education in the somber context of the budgetary underfunding and under the significant decrease in the number of the students that are paying tuition fees. In these circumstances, this paper focuses on the accounting codification and instrumentation of the operations afferent to the projects financed from structural funds, materializing into a pragmatic approach in which we aim to present the accounting reflection of the specific accounting operations in the case of the University of Craiova, as public beneficiary of post-accession external grants, based on the principle of expenses reimbursement. In order to achieve our desideration, we shall consider issues related to the interpretation of the applicable referential in full correlation with the practice size in the context of the accounting capitalization of the financial allocations facilitated by the contracts signed between the public institutions of higher education and the pan-European financier.
McCullough, Kerry; Munro, Nicholas
Consistent with current higher education concerns with student engagement and the student experience, this study explored third-year undergraduate Finance students' experiences of lecture-based active learning tasks. Finance students from the 2012 and 2014 cohorts from a South African university were invited to complete an anonymous questionnaire…
The financial calculator is incorporated in finance education. In class, the instructor shows students how to use the financial calculator's function keys to solve time value of money (TVM) related problems efficiently. The fundamental finance course is required for all majors in the business school. Some students, especially…
In 1988 the Federal Energy Regulatory Commission (open-quote FERC close-quote) issued proposed rules and guidelines for the use of competitive bidding by state utility commissions to chose new power supplies. Since then, more than 20 states have implemented bidding programs to determine the price and sources of incremental generating capacity. This presentation discusses the impact of the use of competitive bidding on how landers and equity investors perceive the risks of project-supported financing arrangements and describes the actions that project developers have taken to adapt the project financing process to win bidding contests and as importantly, successfully obtain project financing in spite of the open-quotes credit crunchclose quotes market environment
With the healthcare industry changing rapidly, organizations seek finance leaders who have skills that go beyond traditional expertise in revenue and expenses. These additional competencies fall under the heading of soft-leadership skills and include the ability to be strategy-oriented, agile, passionate, inspirational, influential, communicative, dependable, driven, integrative, and engaged. Networking, participation in a mentoring program, and continuing education provide avenues for finance leaders to develop these sorts of skills.
This paper examines the use of online information resources by Economics, Finance, and Marketing 3rd year students in a cooperative education program and explores some possible factors and issues that influence how students use these resources. The nature of Work Integrated Learning (WIL) programs, the business information environment, and the…
Rossmiller, Richard A.; Geske, Terry G.
Reports the results of a case study of the political decision-making process in Wisconsin through which control over educational finance reform was exercised between January, 1972, and August, 1973. (Author)
Department of Education — School District Finance Survey, 2013–14 (F-33 2013–14) is a study that is part of the Common Core of Data (CCD) program; program data is available since 1989–90 at ....
This study uses an Interrupted Time Series analysis with a non-equivalent comparison group to estimate the causal effect of school finance equalization on district revenue instability. The author applies a microeconomic framework to an understudied problem in education finance and policy. In so doing, she illustrates how policies can sometimes…
Limited to periodical literature, this annotated bibliography on school finance contains 81 references grouped in 5 categories: (1) policy and politica issues, (2) federal government, (3) state issues, (4) aid to nonpublic schools, and (5) accountability. Following the bibliographic citations, annotations range from 4 to 15 lines and conclude by…
la Cour, Lisbeth F.; Müller, Jennifer
for economic growth in LDCs. We find that a higher regulatory quality, lower government consumption and a higher level of education helps increase growth. The significance of these variables are, however, not as consistently robust as the results for project finance.......This article examines the effects of project finance on economic growth in the least developed countries (LDC). Inspired by the neoclassical growth model we set up an econometric model to estimate the effects of project finance for a sample consisting of 38 of the least developed countries using...... data from the period 1994-2007. The results of our study suggest, that project finance has a significant positive effect on economic growth and therefore constitute an important source of financing in the selected set of countries. Additionally, the project sheds light on other factors of importance...
Marcu, Mircea I; Kellermann, Arthur L; Hunter, Christine; Curtis, Jerri; Rice, Charles; Wilensky, Gail R
To understand the long-term economic implications of key pathways for financing a medical school education. The authors calculated the net present value (NPV) of cash flow over a 30-year career for a 2013 matriculant associated with (1) self-financing, (2) federally guaranteed loans, (3) the Public Service Loan Forgiveness program, (4) the National Health Service Corps, (5) the Armed Forces Health Professions Scholarship Program, and (6) matriculation at the Uniformed Services University of the Health Sciences. They calculated the NPV for students pursuing one of four specialties in two cities with divergent tax policies. Borrowers were assumed to have a median level of debt ($180,000), and conservative projections of inflation, discount rates, and income growth were employed. Sensitivity analyses examined different discount and income growth rates, alternative repayment strategies, and various lengths of public-sector service by scholarship recipients. For those wealthy enough to pay cash or fortunate enough to secure a no-strings scholarship, self-financing produced the highest NPV in almost every scenario. Borrowers start practice $300,000 to $400,000 behind their peers who secure a national service scholarship, but those who enter a highly paid specialty, such as orthopedic surgery, overtake their national service counterparts 4 to 11 years after residency. Those in lower-paid specialties take much longer. Borrowers who enter primary care never close the gap. Over time, the value of a medical degree offsets the high up-front cost. Debt avoidance confers substantial economic benefits, particularly for students interested in primary care.
V. G. Afanasiev
Full Text Available The article corers current state of airline financing using such instrument as aviation leasing indifferent forms, such as finance leasing its different forms, operational leasing and its different types, sale and lease back analyzed all pluses and minuses of each form. The main questions of Capetown Convention on international warranties concerning moving equipment also discussed.
The "State of the States 2016" summarizes state policies for arts education identified in statute or administrative code for all 50 states and the District of Columbia. Information is based on a comprehensive search of state education statute and codes on each state's relevant websites. Complete results from this review are available in…
Rural finance is the weakest link in China’s financial system. There are still many problems in the traditional rural finance, such as poor business conditions, imperfectly competitive financial markets, and credit information asymmetry; the phenomenon of farmers’ loans difficulty has not been fundamentally changed. In order to improve the current situation of rural finance, the state proposes to develop new rural finance and innovate upon rural financial system. The new rural finance has many good development advantages, such as adequate information, flexible operation, and good potential quality of the assets. It is necessary to innovate upon financial products and services, establish the purpose of serving agriculture, countryside and farmers, strengthen the supervision of credit, and improve the financial infrastructure construction, so as to achieve sustainable developments.
Chua, Hong Teck; Cheah, Julius Chee Ho
One of the challenges to maintain an agenda for universal coverage and equitable health system is to develop effective structuring and management of health financing. Global experiences with different systems of health financing suggests that a strong public role in health financing is essential for health systems to protect the poor and health systems with the strongest state role are likely the more equitable and achieve better aggregate health outcomes. Using Malaysia as a case study, this...
Arts Education Partnership (NJ1), 2012
The "State of the States 2012" summarizes state policies for arts education identified in statute or code for all 50 states and the District of Columbia. Information is based primarily on results from the AEP Arts Education State Policy Survey conducted in 2010-11, and updated in April 2012.
There is increasing awareness that supply subsidies for health and education services often fail to benefit those that are most vulnerable in a community. This recognition has led to a growing interest in and experimentation with, consumer-led demand side financing systems (CL-DSF). These mechanisms place purchasing power in the hands of consumers to spend on specific services at accredited facilities. International evidence in education and health sectors suggest a limited success of CL-DSF in raising the consumption of key services amongst priority groups. There is also some evidence that vouchers can be used to improve targeting of vulnerable groups. There is very little positive evidence on the effect of CL-DSF on service quality as a consequence of greater competition. Location of services relative to population means that areas with more provider choice, particularly in the private sector, tend to be dominated by higher and middle-income households. Extending CL-DSF in low-income countries requires the development of capacity in administering these financing schemes and also accrediting providers. Schemes could focus primarily on fixed packages of key services aimed at easily identifiable groups. Piloting and robust evaluation is required to fill the evidence gap on the impact of these mechanisms. Extending demand financing to less predictable services, such as hospital coverage for the population, is likely to require the development of a voucher scheme to purchase insurance. This suggests an already developed insurance market and is unlikely to be appropriate in most low-income countries for some time.
The Wisconsin Commission on Transportation Finance and Policy was created in the 2011-2013 biennial state budget to : identify and evaluate transportation finance options to address needs into the future. As part of its scope, the Commission : needed...
La Ferla, L. [La Ferla Associates, Washington, DC (United States)
The Office of National Security Policy has produced this Directory of Financing Sources for Foreign Energy Projects. The Directory reviews programs that offer financing from US government agencies, multilateral organizations, public, private, and quasi-private investment funds, and local commercial and state development banks. The main US government agencies covered are the US Agency for International Development (USAID), the Export-Import Bank of the US (EXIM Bank), Overseas Private Investment Corporation (OPIC), US Department of Energy, US Department of Defense, and the US Trade and Development Agency (TDA). Other US Government Sources includes market funds that have been in part capitalized using US government agency funds. Multilateral organizations include the World Bank, International Finance Corporation (IFC), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), and various organizations of the United Nations. The Directory lists available public, private, and quasi-private sources of financing in key emerging markets in the Newly Independent States and other developing countries of strategic interest to the US Department of Energy. The sources of financing listed in this directory should be considered indicative rather than inclusive of all potential sources of financing. Initial focus is on the Russian Federation, Ukraine, india, China, and Pakistan. Separate self-contained sections have been developed for each of the countries to enable the user to readily access market-specific information and to support country-specific Departmental initiatives. For each country, the directory is organized to follow the project life cycle--from prefeasibility, feasibility, project finance, cofinancing, and trade finance, through to technical assistance and training. Programs on investment and export insurance are excluded.
provides an overview of financing strategies and highlights a community that leveraged Clean Water State Revolving Fund (CWSRF) resources for a flood mitigation project that provided multiple economic, environmental, and social benefits.
The purpose of this volume is to analyze the problems of school finance in Madagascar, including those that have arisen in the past decade and those anticipated in the present decade (through 1980). More generally, this book examines past and future connections between the economic and educational systems in Madagascar. The author examines the…
Swagerman, D.M.; van Steenis, Jorn; Sieber, Pascal; Griese, Joachim
The purpose of this paper is to present examples of the current state of the Shared Services Concept as applied to the finance function. The paper arises out of the ongoing research after current developments in the finance function enabled by information and communication technology, at the University of Twente. The rapid developments in information and communication technology (leading to new ‘economics of information’) combined with developments in organisation theory, have far-reaching im...
In generalizing the researching conditions of researchers on private finance,the paper introduces the connoted meaning of rural private finance broadly and narrowly.The paper states the forms of rural private finance(including private loaning,private bank,rural private collecting,financing organizations,cooperatives,NGO,small loaning organizations and so on),the relations between rural private finance and rural economic relations,pointing out that it is the combination of the strong and the weak,which may generate benefits with the operation of marketing mechanisms.The paper analyzes the historical causes,supervision causes and cultural causes of rural private finance,discussing mechanisms of standardized development of rural private finance:firstly,standardize the organization management mechanisms,including scaled controlling mechanisms and bank management mechanisms;secondly,complete finance supervision mechanisms;thirdly,moderate government intervention,including affording liberal policy environment and reducing the improper intervention;fourthly,upgrading qualities mechanisms,including cultivating the rural credit culture and improving the quality of regulatory personnel.
Montana Commission on Post-Secondary Education, Helena.
The future financing of postsecondary education is a critical issue facing those charged with national and state educational policy. Questions regarding pricing, financial aids, the methods of support, and the impact of various policies on accessibility and educational quality are hotly debated in Congress and in every state. To determine how…
Molina Arenaza, Hércules; Del Carpio Gallegos, Javier
This article analizes and compares the various aspects related to the "Project Finance" technique using projects financing in the Capital Market, both in developed countries and in developing countries. Likewise, the application's technique is illustrated by Antamina mining enterprise. El artículo analiza y compara los diferentes aspectos relacionados con la técnica del Project finance usado en el financiamiento de proyectos en el mercado de capitales, tanto en los países desarrollados com...
In recent years financing through the creation of an independent project company or financing by non-recourse debt has become an important part of corporate decisions. Shah and Thakor (JET, 1987) argue that project financing can be optimal when asymmetric information exists between firm's insiders and market participants. In contrast to that paper, we provide an asymmetric information argument for project financing without relying on corporate taxes, costly information production or an assump...
Martin, Lawrence; Lawther, Wendell; Hodge, Graeme
Transportation financing public-private partnerships (P3s) are a common practice in many countries. However, they represent a relatively new approach to transportation infrastructure financing for state and local governments in the United States. In a transportation financing P3 project, a private...... sector partner designs-builds-finances-operates- maintains (DBFOM) a transportation infrastructure asset (road, highway, bridge, tunnel, etc.) with an emphasis on financing. Under this type of arrangement, the private sector partner is primarily responsible for securing all or substantially all...... of the funding necessary to construct new transportation infrastructure and/or rehabilitate existing transportation infrastructure. This study reviews the international experience of national and sub-national governments with transportation financing P3s. The primary purpose of this study is to identify...
de Goede, M.
This article offers a critical analysis of the anti-politics of terrorist finance, understood as the particularly depoliticized governing practices enabled in its name. The article conceptualizes 'terrorist finance' not as an unproblematic reality which has elicited a state response, but as a
Blanchard, Christoper M; Prados, Alfred B
According to the U.S. State Department 2007 International Narcotics Control Strategy Report, Saudi donors and unregulated charities have been a major source of financing to extremist and terrorist groups over the past 25 years...
Analysis of accessibility of finance by women entrepreneurs in Abia State, Nigeria: a ... A structured questionnaire was administered to 60 respondents using simple ... to the accessibility of finance while type of business ownership and interest ...
Full Text Available What are the main functions of the state? Which functions must be fulfilled by the state, which functions must be not? How should the state fulfill these responsibilities? What must be the main principles of the state, related to public expenditures, taxation and debt policies? In this paper, the place of the role and functions of the state in Adam Smith’s thought system will be discussed. In this context, especially the related parts of the Wealth of Nations and Lectures on Jurisprudence will be focused on and evaluated in the light of contemporary public finance theory
Uzochukwu, B S C; Ughasoro, M D; Etiaba, E; Okwuosa, C; Envuladu, E; Onwujekwe, O E
The way a country finances its health care system is a critical determinant for reaching universal health coverage (UHC). This is so because it determines whether the health services that are available are affordable to those that need them. In Nigeria, the health sector is financed through different sources and mechanisms. The difference in the proportionate contribution from these stated sources determine the extent to which such health sector will go in achieving successful health care financing system. Unfortunately, in Nigeria, achieving the correct blend of these sources remains a challenge. This review draws on relevant literature to provide an overview and the state of health care financing in Nigeria, including policies in place to enhance healthcare financing. We searched PubMed, Medline, The Cochrane Library, Popline, Science Direct and WHO Library Database with search terms that included, but were not restricted to health care financing Nigeria, public health financing, financing health and financing policies. Further publications were identified from references cited in relevant articles and reports. We reviewed only papers published in English. No date restrictions were placed on searches. It notes that health care in Nigeria is financed through different sources including but not limited to tax revenue, out-of-pocket payments (OOPs), donor funding, and health insurance (social and community). In the face of achieving UHC, achieving successful health care financing system continues to be a challenge in Nigeria and concludes that to achieve universal coverage using health financing as the strategy, there is a dire need to review the system of financing health and ensure that resources are used more efficiently while at the same time removing financial barriers to access by shifting focus from OOPs to other hidden resources. There is also need to give presidential assent to the national health bill and its prompt implementation when signed into law.
Verbytska Anna V.
Full Text Available The aim of the article is to identify the financial mechanisms for integrating higher education of Ukraine into the quadrangle “education — government – business — society”, which are intended for increasing the international competitiveness of higher education of Ukraine. There substantiated the formation of a new national financial strategy in the field of higher education, which is based on the introduction of a mechanism for distributing financial responsibility between the state and consumers of educational services represented by employers and business structures, which can be implemented within multi-channel financing; adaptation of the experience in creation of endowment funds as a tool for additional financing of the higher education system; increase in the effectiveness of the export policy in the market for educational services. The principle of performance-based budgeting of higher education and its coordination with the concept of effective financial management is revealed.
Wong, Phoebe; Mak, Connie; Ng, Peggy M. L.; Zhao, Jessie
This study explores the interrelationships between self-concept, motivation and academic and social experience among students from self-financing higher education institutions in Hong Kong. Although prior studies have investigated different aspects of self that drive various types of motivation in students' academic and social experience, most of…
US utilities have lost interest in financing any more nuclear power plants until a more favored combination of demand growth, economics, federal safety and environmental regulation, state economic (rate) regulation, and political acceptance are present. Money market and utility financing rating agencies' responses confirm the views of the utilities. Financing of US-origin nuclear power plants outside the United States by the US Government has slowed considerably from earlier levels. The US Government has forsaken its former preference for financing of nuclear power plants in favor of more even-handed treatment and additionally, by virtue of the Nuclear Non-Proliferation Act and related restrictions, created serious roadblocks to the marketing of US-origin nuclear plant equipment and services regardless of the source of the financing. Financing of US-origin nuclear power plant equipment and services in both the domestic and foreign markets is expected to improve due to improved industry/regulator performance and relationships in the US market and more supportive federal executive and legislative department actions with regard to the international markets
Mariano Fernández Enguita
Full Text Available This paper examines those indirect costs of education associated to state funded schooling that come to be privately financed by families, specially those linked to mandatory or mandated provision schooling. Discussion is more detailed about textbooks, school meals and academic support activities. Then we study the consequences of this private spending for gratuity and its effects related to educational and social equality or inequality. Finally, we analyze the implications related to sectional interests at stake and educational policies.
Mariano Fernández Enguita
Full Text Available This paper examines those indirect costs of education associated to state funded schooling that come to be privately financed by families, specially those linked to mandatory or mandated provision schooling. Discussion is more detailed about textbooks, school meals and academic support activities. Then we study the consequences of this private spending for gratuity and its effects related to educational and social equality or inequality. Finally, we analyze the implications related to sectional interests at stake and educational policies.
Guthrie, James W.
Article examined the remedies available to states in the wake of Serrano and its progeny. As well, it analyzed the strengths and weaknesses of "district power equalizing" and "full state assumption" as alternative methods of financing schools. (Editor/RK)
Thomas, Robert G.
This paper describes the use of tuition tax credits and vouchers as political alternatives of choice and competition in a progressive society. School and public administration theorists identify two distinct finance models: the rational and the political. The first part of this paper examines and describes these two models. The next part…
Project financing was defined ('where a lender to a specific project has recourse only to the cash flow and assets of that project for repayment and security respectively') and its attributes were described. Project financing was said to be particularly well suited to power, pipeline, mining, telecommunications, petro-chemicals, road construction, and oil and gas projects, i.e. large infrastructure projects that are difficult to fund on-balance sheet, where the risk profile of a project does not fit the corporation's risk appetite, or where higher leverage is required. Sources of project financing were identified. The need to analyze and mitigate risks, and being aware that lenders always take a conservative view and gravitate towards the lowest common denominator, were considered the key to success in obtaining project financing funds. TransAlta Corporation's project financing experiences were used to illustrate the potential of this source of financing
Data are presented which show there is no standard framework for financing independent power projects (IPPs) and that there is a close correlation between the simplicity of the financing solution and the state of development of the local capital market. Some aspects of the optimization of capital structure for IPP financing are considered. In order to increase access to finance, risks need to be minimized. Three principal areas of risk are identified. These are transparency and political risks, cashflow issues and bidding procedures. Strategies for minimizing these risks are outlined. Finally, fuel supply, technology and plant operation are briefly examined as factors influencing electricity price competitiveness. (1 table, 6 figures) (UK)
Full Text Available The export orientation of small and medium enterprises epresents an important attribute of the enterprises’ competitive ability. In this context, the area of export financing becomes a very important field of company management. The aim of this study is to define and quantify relevant approaches of entrepreneurs to the export activities and export financing, with regard to the impact of the selected socio-economic factors (gender, level of education and age. The study is based on the research of Slovak business environment carried out in 2016, which was evaluated by the tools of descriptive statistics, including percentages and averages, pivot tables, the methods of comparison and deduction, Pearson´s chi-square statistics at 5% significance level. Our results suggest that Slovak entrepreneurs primarily supply their products and services on the domestic market, while their export potential is limited. The assessment of the state support of export activities is rather negative. An alarming finding is that Slovak entrepreneurs in the SME segment do not use even basic tools of financial risk reduction to a higher extent, and that the usage of services of the state export bank Eximbank is negligible.
De Jager, D.; Klessmann, C.; Stricker, E.; Winkel, T.; De Visser, E.; Koper, M. [Ecofys, Utrecht (Netherlands); Ragwitz, M.; Held, A. [Fraunhofer ISI, Karlsruhe (Germany); Resch, G.; Busch, S.; Panzer, C. [Energy Economics Group EEG, Vienna University of Technology, Vienna (Austria); Gazzo, A.; Roulleau, T.; Gousseland, P.; Henriet, M.; Bouille, A. [Ernst and Young, London (United Kingdom)
The Directive 2009/28/EC on the promotion of the use of energy from renewable sources (RES) sets the overall target to reach 20% renewable energy in gross final energy consumption in 2020. This target is broken down into binding individual Member State targets. Reaching these targets will require a huge mobilization of investments in renewable energies in the coming decade. In order to improve financing and coordination with a view to the achievement of the 20 % target, Article 23 (7) of the Directive requires the Commission to present an analysis and action plan with a view to: (a) The better use of structural funds and framework programmes; (b) The better and increased use of funds from the European Investment Bank and other public finance institutions; (c) Better access to risk capital; (d) The better coordination of Community and national funding and other forms of support; (e) The better coordination in support of renewable energy initiatives whose success depends on action by actors in several Member States. This report presents the results of the title project. The study provides an up to date and thorough assessment of the costs of renewable energy and the support and financing instruments available for renewable energy R and D, demonstration projects and large-scale deployment. This includes details of each Member State's expenditure (via grants, support schemes, loans etc.) and use of Community funds, including loans of the EIB (European Investment Bank) and the EBRD (European Bank for Reconstruction and Development). It also explores the possible instruments for use in the future and constraints in the capital market, which hinder the development of renewable energy. Finally, it develops recommendations for improving financing and support instruments, improving the sector's access to capital, and closing the financing gap for reaching the 2020 targets. The chapters of the report represent separate tasks: (1) Costs of renewable energy
How WIFIA works, program implementation, program guidance, how potential recipients can obtain funding, and project eligibility. WIFIA works with State Revolving Funds to provide subsidized financing for large dollar-value projects.
Mishra, Arun K.
Education has a place of high priority on India's development agenda. The technical/vocational education (TVE) system is multisectoral with each ministry responsible for labor force development in that sector. The TVE programs in the formal education system are either state delivered or financed. The higher secondary vocational education program…
Full Text Available In the list of possible scapegoats for the recent financial crises, mathematics, in particular mathematical finance has been ranked, without a doubt, as the first among many and quants, as mathematicians are known in the industry, have been blamed for developing and using esoteric models which are believed to have caused the deepening of the financial crisis. However, as Lo and Mueller (2010 state “Blaming quantitative models for the crisis seems particularly perverse, and akin to blaming arithmetic and the real number system for accounting fraud.” Throughout the history, mathematics and finance have always been in a close relationship. Starting from Babylonians, through Thales, and then Fibonacci, Pascal, Fermat, Bernoulli, Bachelier, Wiener, Kolmogorov, Ito, Markowitz, Black, Scholes, Merton and many others made huge contributions to the development of mathematics while trying to solve finance problems. In this paper, we present a brief historical perspective on how the development of finance theory has influenced and in turn been influenced by the development of mathematical finance theory.
Bamiteko, Racheal Modupe; Ibi, Mustapha Baba; Bukar, Ibrahim Bulama
This study examined the attitude of academic community towards physically challenged students in the University of Maiduguri as it affect the financing of inclusive education for sustainable development in Nigeria. Four objectives, two research questions and two hypotheses were set and tested for the study. Descriptive survey was adopted as a…
Clausen, C C; Bauer, M; Saleh, A; Picker, O
In part 1 of this series about problems of financing capital goods the multiple and partly diametric economic effects of financing instruments were presented using the leasing procedure as an example. The result indicated that due to the complexity of these effects the choice of a specific financing instrument requires an individual consideration. Therefore, part 2 of the series introduces the method of dynamic capital budgeting which allows the instruments discussed in part 1 to be compared with each other and helps to evaluate their economic benefits. More precisely this paper focuses on a comparative analysis of the most common alternatives, leasing, credit financing and investment financing by the state. In this context, after having identified the total costs of ownership of anesthesia devices, the final asset values of the three financing instruments can be compared with each other using the method of dynamic capital budgeting. In contrast to the prevailing opinion, the results show that from a purely fiscal perspective leasing anesthesia devices is the most expensive alternative. Given the fact that no financial support is available from the state, the option of credit financing turns out to be the most preferable alternative from a relatively limited pool of possibilities. However, it still remains to be answered whether credit financing can defend this position against further, innovative forms of debt financing (e.g., factoring, asset-backed securities, hedge funds, mezzanine capital, etc.).
Regenstein, Marsha; Snyder, John E; Jewers, Mariellen Malloy; Nocella, Kiki; Mullan, Fitzhugh
Despite considerable federal investment, graduate medical education financing is neither transparent for estimating residency training costs nor accountable for effectively producing a physician workforce that matches the nation's health care needs. The Teaching Health Center Graduate Medical Education (THCGME) program's authorization in 2010 provided an opportunity to establish a more transparent financing mechanism. We developed a standardized methodology for quantifying the necessary investment to train primary care physicians in high-need communities. The THCGME Costing Instrument was designed utilizing guidance from site visits, financial documentation, and expert review. It collects educational outlays, patient service expenses and revenues from residents' ambulatory and inpatient care, and payer mix. The instrument was fielded from April to November 2015 in 43 THCGME-funded residency programs of varying specialties and organizational structures. Of the 43 programs, 36 programs (84%) submitted THCGME Costing Instruments. The THCGME Costing Instrument collected standardized, detailed cost data on residency labor (n = 36), administration and educational outlays (n = 33), ambulatory care visits and payer mix (n = 30), patient service expenses (n = 26), and revenues generated by residents (n = 26), in contrast to Medicare cost reports, which include only costs incurred by residency programs. The THCGME Costing Instrument provides a model for calculating evidence-based costs and revenues of community-based residency programs, and it enhances accountability by offering an approach that estimates residency costs and revenues in a range of settings. The instrument may have feasibility and utility for application in other residency training settings.
This paper presents the basic concepts and components of the project financing of large industrial facilities. Diagrams of a simple partnership structure and a simple leveraged lease structure are included. Finally, a Hypothetical Project is described with basic issues identified for discussion purposes. The topics of the paper include non-recourse financing, principal advantages and objectives, disadvantages, project financing participants and agreements, feasibility studies, organization of the project company, principal agreements in a project financing, insurance, and an examination of a hypothetical project
Education is the most imponant factor of development. The success of public secondary school education is hinged on adequate financing. It is with funds that physical facilities are set up and maintained, equipment procured, goods and services provided and manpower employed and maintained. It is clear that the funding ...
Bachelor thesis deals with public finance and financial markets. Author analyzes the basic terms of the solved problems in the theoretical part: public finance, public budgets, public revenues, public expenditures, public debt, financial markets and their relations. The analytical part is trying to find an answer to the question, what tools the state have to finance the national debt and how to finance it from the government bond yield.
To date, more then 500 nuclear power reactors have been successfully financed and built. Experience in recent nuclear projects confirms that nuclear power will not cease to be a viable option due to a worldwide financing constraint. For financing nuclear plants there are special considerations: large investment; long lead and construction times; complex technology; regulatory risk and political risk. The principal preconditions to financing are a national policy supporting nuclear power; creditworthiness; economic competitiveness; project feasibility; assurance of adequate revenues; acceptability of risks; and no open-ended liabilities. Generally, nuclear power plants are financed conventionally through multi-sources, where a package covers the entire cost. The first source, the investor/owner/operator responsible for building and operating the plant, should cover a sizable portion of the overall investment. In addition, bond issues, domestic bank credits etc. and, in case of State-owned or controlled enterprises, donations and credits from public entities or the governmental budget, should complete the financing. A financially sound utility should be able to meet this challenge. For importing technology, bids are invited. Export credits should form the basis of foreign financing, because these have favorable terms and conditions. Suppliers from several countries may join in a consortium subdividing the scope of supply and involve several Export Credit Agencies (ECAs). There are also innovative financing approaches that could be applied to nuclear projects. Evolutionary Reactors with smaller overall investment, shorter construction times, reliance on proven technology, together with predictable regulatory regimes and reliable long-term national policies favorable to nuclear power, should make it easier to meet the future challenges of financing. (author)
Full Text Available In the introduction of this paper the research objectives are presented on a case study, the research method, as well as the literature in the field and the novelty of this study. Furthermore, several aspects on the source of information for determining intermediate management balances are covered. In the third part of the study the indicator of self-financing capacity of companies is determined. The correlation between the self-financing capacity and term debts are shown in the fourth part and the fifth part of this study presents some aspects regarding global self-financing, maintaining self-financing, net self-financing, and finally the results of the study are presented.
Full Text Available This paper discuss some general principles of behavioral finance Behavioral finance is the dynamic and promising field of research that mergers concepts from financial economics and cognitive psychology in attempt to better understand systematic biases in decision-making process of financial agents. While the standard academic finance emphasizes theories such as modern portfolio theory and the efficient market hypothesis, the behavioral finance investigates the psychological and sociological issues that impact the decision-making process of individuals, groups and organizations. Most of the research behind behavioral finance has been empirical in nature, concentrating on what people do and why. The research has shown that people do not always act rationally, nor they fully utilise all information available to them.
...-Johnson Sport Fish Restoration Act in two ways: (1) States may finance the entire cost of the acquisition... Program. (a) States may finance the acquisition of lands or interests in lands including water rights and...
The issues exercising the US wind finance sector were discussed at two recent high-level financing and investment events in New York. The financial community still tends to be cautious about wind projects; more sophisticated forecasting of wind availability is reducing the complications posed by wind's variability but as much wind data as possible is vital. Projects involve large areas of land with multiple owners, long distances of buried cable and often difficult terrain. Some commentators believe that, as oil and gas prices rise, utilities will start to choose wind for its inherent benefits rather than to meet state Renewable Portfolio Standards (RPS) and to take advantage of generous national tax credits. However, few utilities are currently prepared to sign contracts lasting more than a year or two. Transmission and connection to the national grid remain problem areas, as are the threat posed by imbalance penalties imposed by some utilities when a project's output deviates from that scheduled. Utilities are also imposing tougher performance standards on wind projects. The periodic expiry and need for renewal by Congress of the Production Tax Credit (PTC) is seen as the biggest 'wild card' in US wind financing, as its volatility unsettles many bankers. Some wind developers would prefer a national RPS rather than the PTC to provide greater stability.
Fuel financing is only at its beginning. A logical way of developing financing model is a step by step method starting with the financing of pre-payments. The second step will be financing of natural uranium and enrichment services to the point where the finished fuel elements are delivered to the reactor operator. The third step should be the financing of fuel elements during the time the elements are inserted in the reactor. (orig.) [de
This dissertation studies a range of topics in development economics and public finance. The first two chapters contain empirical studies on India addressing the impact of financial development on poverty and informality. Using time and state-level variation across Indian states, the first study
Ohanian, Lee E
During World War II, government expenditures were financed primarily by issuing debt. During the Korean War, expenditures were financed almost exclusively by higher taxes, reflecting President Truman's preference for balanced budgets. This paper evaluates quantitatively the economic effects of the different policies used to finance these two wars. Counterfactual experiments are used to explore the implications of financing World War II like the Korean War, and financing the Korean War like Wo...
Fowler, William J., Jr.
The purpose of this guidebook is to reflect the changes that have occurred since 1973 in governmental accounting and education finance. This document serves as a vehicle for program cost accounting at the local and intermediate levels. Although not required by federal law, the National Center for Education Statistics (NCES) encourages state and…
Michiels, Anneleen; Molly, Vincent
Motivated by the growing attention to the financing decisions of family firms, this review brings together the two highly relevant research fields of family business and finance. This study critically reviews 131 articles on financing decisions in family businesses, published between 1977 and 2016 in 64 finance and management journals. We develop a state of the art on family business financing literature and present a model to guide extant and future research by identifying gaps across the th...
The Assistant Secretary for Special Education and Rehabilitative Services announces a priority under the Assistive Technology Alternative Financing Program administered by the Rehabilitation Services Administration (RSA). The Assistant Secretary may use this priority for competitions in fiscal year (FY) 2014 and later years. This priority is designed to ensure that the Department funds high-quality assistive technology (AT) alternative financing programs (AFPs) that meet rigorous standards in order to enable individuals with disabilities to access and acquire assistive technology devices and services necessary to achieve education, community living, and employment goals.
The basic premise for financing arrangements for the disposal of nuclear waste is that the nuclear industry - not the taxpayer - must bear the costs. Present regulations, however, are imperfect in this regard. The Inquiry therefore proposes extending the financial liability of the nuclear industry and introducing new fee-setting arrangements. It is proposed that a new law be enacted to regulate these changes. The present financing system is regulated in the 'Financing Act' 1. Under this Act, the licensed owner and operator of a nuclear reactor is required to pay an annual fee and provide guarantees to the State. Four companies are reactor owners. These companies are wholly or partly owned by other companies according to various arrangements. Each reactor owner is responsible for its own dismantling costs and for its share of allocated common costs of disposal and related measures. If there is insufficient money in the funds, the nuclear industry will still be liable. The basic premise of the Inquiry is that the financing system should be designed so as to minimise the risk that the State (and taxpayers) will need to step in and pay. Although the nuclear industry is intended to have full liability for payment, in practice it does not. This is because the formal full liability for payment in the nuclear industry rests with the reactor companies and not where the industry's long-term ability to pay is to be found. Essentially, the present arrangements mean that: - Companies that cannot be expected to have any long-term ability to pay have unlimited liability, and - Companies that can be expected to have an ability to pay have very limited liability. The Inquiry therefore proposes that ability to pay and liability are brought into line by a formal assumption by owning companies of the sort of liability for payment that now rests solely with the reactor companies. This means that the owning company in each group that is best suited to bear the liability for payment
Full Text Available This study determined the impact of micro-finance on poverty level of rural women farm households in Abia State, Nigeria: Implication for policy intervention. A multi-stage random sampling technique was used to +select the local government areas, communities and respondents in the three (Aba, Ohafia and Umuahia agricultural zones of the State. The sample size was 240 (120 a piece for rural women farmer borrowers and non borrowers. Instrument of data collection was a set of structured and pre-tested questionnaire administered on both groups of rural women farmers. The result indicated that incidence of poverty or head count ratio was 0.558 for the rural women farmers borrowers and 0.933 for the rural women farmer non borrowers; poverty gap otherwise known as income short fall was 0.4547 for the rural women farmer borrowers and 0.6995 for the rural women farmer non borrowers. The result of the paired t-test showed that micro-finance impacted significantly on annual farm income, farm size and fertilizer use level of rural women farmer borrowers at given levels of significance. It was however, recommended that increased subsidy policy on agro-inputs and increased funding by the micro-finance will significantly aim at reducing the poverty levels of these women.
Deidda, Luca Gabriele; Fattouh, Bassam
This paper develops an overlapping generation model with asymmetric information in the credit market such that the interplay between relationship finance supplied by investors who monitor investment decisions ex-ante and market finance supplied by investors who relay on public information can be the source of endogenous business fluctuations. Monitoring helps reducing the inefficiency caused by moral hazard. However, the incentives of entrepreneurs to demand relationship finance to induce mon...
Full Text Available State investment in service activities of the public sector, as well as the financial returns analyzed from the aspect of service effectiveness and utilization of public goods, can be considered as one of the most significant dilemmas, especially in the field of education. When analyzing state investments, through investment in education and development of the university, we can conclude that state investments in scientific productivity of universities fall into one of the main future frameworks of measurability of universities efficiency. This criterion cannot be taken as the most important since universities are fundamentally divided into teaching and research activities. However, the concept of determination of the productivity of universities, from the aspect of the scientific activities of the teaching staff, has an increasingly important role due to the specified global criteria and conditions for career advancement of the teaching staff and positioning of the university in the education market. This paper intends to give the overview of the current situation of universities in Croatia, as well as the trends that would point out state role in financing of universities and indicate coherent criteria regarding the financing of scientific productivity of teaching stuff.
L. Randall Wray
This paper begins by defining, and distinguishing between, money and finance, and addresses alternative ways of financing spending. We next examine the role played by financial institutions (e.g., banks) in the provision of finance. The role of government as both regulator of private institutions and provider of finance is also discussed, and related topics such as liquidity and saving are explored. We conclude with a look at some of the new innovations in finance, and at the global financial...
Deze publicatie van het Amsterdam Center for Corporate Finance in haar discussiereeks ‘Topics in Corporate Finance’ gaat over de financiële crisis. Dat het financiële systeem het afgelopen jaar enige schrammetjes heeft opgelopen is een understatement. Het financiële stelsel staat onder druk. Grote
... amended, the National Aeronautics and Space Administration announces a meeting of the Audit, Finance and... building (West Lobby-- Visitor Control Center), and must state that they are attending the Audit, Finance...
... amended, the National Aeronautics and Space Administration announces a meeting of the Audit, Finance and... Center), and must state that they are attending the Audit, Finance, and Analysis Committee meeting in...
Wulandari, Eliana; Meuwissen, Miranda P M; Karmana, Maman H; Oude Lansink, Alfons G J M
Analysing farmer knowledge of the requirements of finance providers can provide valuable insights to policy makers about ways to improve farmers' access to finance. This study compares farmer knowledge of the requirements to obtain finance with the actual requirements set by different finance provider types, and investigates the relation between demographic and socioeconomic factors and farmer knowledge of finance requirements. We use a structured questionnaire to collect data from a sample of finance providers and farmers in Java Island, Indonesia. We find that the most important requirements to acquire finance vary among different finance provider types. We also find that farmers generally have little knowledge of the requirements, which are important to each type of finance provider. Awareness campaigns are needed to increase farmer knowledge of the diversity of requirements among the finance provider types.
Cleverley, William O; Baserman, Sarah Jane
The ten large systems reviewed in this column have greater degrees of financial leverage than do most freestanding hospitals. Larger firms typically have both greater capital access and lower costs of financing. Both voluntary and IO systems make extensive use of variable rate financing, but the percentage of variable rate financing is slightly higher for voluntary systems. This difference may be attributable to larger yield curve spreads for tax-exempt versus taxable securities. Interest rate swaps were used by 70 percent of the systems, but the actual amount swapped was relatively minor. This may change in the future as financial officers become more comfortable and familiar with interest rate swap arrangements. When compared to IO systems, voluntary systems have extensive levels of cash relative to their debt positions. Cash balances are more critical in the bond-rating process for voluntary hospitals, and the ability to raise new equity is much more limited in the voluntary sector. Very little capital leasing was used in any of the systems.
Private financing is the latest mark of the privatisation of global governance. The implementation of international agreements in the fields of environment, climate change and development has always been supported by public finance from developed countries. This tradition is broken by a
Lone, Fayaz Ahmad; Quadir, Abdul
Financing is an important component in any project. Without finance, it is impossible to run any project as it is considered the lifeblood of the business. But due to the presence of predetermined rate of interest, economists have provided alternative approach for financing the project. In this paper a model using Profit and Loss Sharing (PLS) system and comparison of it with the conventional financing model is developed. Thrust in this paper is towards establishing a new theoretical reasonin...
Chicago Univ., IL.
This document comprises 8 papers presented at the COBRE Research Workshop on Higher Education. The papers are: (1) "Schooling and Equality from Generation to Generation;" (2) "Time Series Changes in Personal Income Inequality: The United States Experience, 1939 to 1985;" (3) "Education, Income, and Ability;" (4) "Proposals for Financing Higher…
Voici la 17e édition du Rapport moral sur l’argent dans le monde, publié chaque année depuis 1994 par l’Association d’économie financière avec le soutien de la Caisse des Dépôts. Abordant une nouvelle fois les grands débats qui traversent actuellement le monde de la finance, il se consacre dans un premier temps à la lutte contre la criminalité et les délits financiers, et plus particulièrement à la lutte contre la corruption, la délinquance dans la finance et la fraude fiscale. Dans un second...
Mindeli, L.; Chernykh, S.
One of the most important factors that determine the state of science potential and, in the long run, the successful results of scientific and technical activity, is its financing. All developed countries conduct an incentive policy to encourage their national science, including systematic support from state budgets for scientific research and…
Health system financing is a critical factor in securing universal health care and achieving equity in access and payment. The human rights framework offers valuable guidance for designing a financing strategy that meets these goals. This article presents a rights-based approach to health care financing developed by the human right to health care movement in the United States. Grounded in a human rights analysis of private, market-based health insurance, advocates make the case for public financing through progressive taxation. Financing mechanisms are measured against the twin goals of guaranteeing access to care and advancing economic equity. The added focus on the redistributive potential of health care financing recasts health reform as an economic policy intervention that can help fulfill broader economic and social rights obligations. Based on a review of recent universal health care reform efforts in the state of Vermont, this article reports on a rights-based public financing plan and model, which includes a new business tax directed against wage disparities. The modeling results suggest that a health system financed through equitable taxation could produce significant redistributive effects, thus increasing economic equity while generating sufficient funds to provide comprehensive health care as a universal public good.
Alternative ways of financing school bus purchases include financing privately through contractors or commercial banks, financing through sources such as insurance companies and pension funds, leasing the buses, or contracting for transportation services. (Author/MLF)
David Suriñach Fernández
The United States educational system is very complex. Due to the fact a big number of agents take play of its regulation, the differences between the education from one State compared to the education from another, or even between school districts, might be considerable. The last two largest federal education initiatives, No Child Left Behind and Race to the Top, have had a huge impact on the American education system. The escalation of the standardized test throughout the whole country as a ...
What is the contemporary relation between finance and security? This essay encourages further research into the securitization of finance by developing the notion of ‘finance/security/life’. A focus on the intersections of finance/security/life will be shown to prompt a broadened range of critical, cross-disciplinary concerns with the various ways in which financial markets are positioned as vital to securing wealth, welfare and wellbeing.
Kjems, Sidsel; Bille, Trine
This article analyses the financing of seven national churches in a large comparative study. The national churches in the Nordic countries and in England and Scotland are compared. They have many similarities in terms of history, intertwinement with the state, type and level of religiosity...... of the population, public role and public responsibilities, but the level of financing differs greatly. The purpose of the article is to discuss possible explanations for the differences in the level of financing. Adjusting for cost of public service tasks and for GDP leaves a large difference in financing among...... the seven national churches. We suggest that the source of finance is a determinant factor for the level of finance of national churches. Comparing the sources and level of financing of seven national churches in the Nordic countries, England and Scotland shows that financing by a taxation right yields...
Kontar, Y. Y.
Geoscience education is an important issue in the United States and Russia alike. Specifically, the funding of education is highly dependent on the country's overall system and its priorities. The American schools are better funded than Russian schools. The collapse of the Russian economy in the 1980s significantly influenced the decline of the overall national education system, including its quality and funding. Only 4.2 percent of the overall GDP is allocated toward primary and secondary education in Russia. It is 165 times less than in the United States. Russia currently has one of the highest literacy ratings in the world. Despite low funding, students still receive a solid and complete education, specifically in core subjects, such as geosciences, physics and mathematics. However, the education provided by the Russian public schools is becoming less up to date and therefore less effective. Therefore, the country might face poor educational outcomes if the financial allocation is not increased in the near future. Russian schools are designed for a "standard" student. There are a limited amount of auxiliary schools in Russia that focus on providing education for children with various physical disadvantages such as hearing, speech and vision problems. In addition, there are specialized schools for advanced children, who show more potential in certain subjects than the others. The United States, on the other hand, has a relatively lower literacy rate in geosciences, physics and mathematics, but better funding of both public and private schools. Specifically, educational facilities have the necessary learning tools, such as computers, Internet access and updated textbooks. In addition, the handicapped facilities allow for all children to receive compulsory public education. The starting geosciences faculty teaching salary is significantly higher in the United States than in Russia, which makes the profession more desirable. Overall, each country can borrow
Luis E. Torres-Nuñez
Full Text Available The growing economic inability in Latin-American states to finance public universities, has positioned public funding as a common theme in almost all targeted reforms of higher education. Insufficient public resources are compromising the effectiveness of academic management in public universities, without knowing the key economic issues for strengthening public sector policies. This essay is intended to: propose a new system of criteria for funding of higher education; based on the analysis of the Venezuelan experience in allocations of public resources used to finance higher education institutions during the 2000-2015 period. It is a documentary research. The proposal contains seven (7 integrating elements that would lead to the establishment of a funding policy for higher education. Finally, it is suggested that the State exceeds the old negotiated "incremental “schemes, "rigid" budget formulas and deferred funding allocations, which fail to identify basic needs and costs associated to the academic management of higher education institutions, in terms of promoting efficiency, equity and decentralization in public funding for the Venezuelan higher education system.
This paper introduces the engineer who is undertaking distributed generation projects to a wide range of financing options. Distributed generation systems (such as internal combustion engines, small gas turbines, fuel cells and photovoltaics) all require an initial investment, which is recovered over time through revenues or savings. An understanding of the cost of capital and financing structures helps the engineer develop realistic expectations and not be offended by the common requirements of financing organizations. This paper discusses several mechanisms for financing distributed generation projects: appropriations; debt (commercial bank loan); mortgage; home equity loan; limited partnership; vendor financing; general obligation bond; revenue bond; lease; Energy Savings Performance Contract; utility programs; chauffage (end-use purchase); and grants. The paper also discusses financial strategies for businesses focusing on distributed generation: venture capital; informal investors (''business angels''); bank and debt financing; and the stock market
Although consumer finance is a substantial element of the economy, it has had a smaller footprint within financial economics. In this review, I suggest a functional definition of the subfield of consumer finance, focusing on four key functions: payments, risk management, moving funds from today to tomorrow (saving/investing), and from tomorrow to today (borrowing). I provide data showing the economic importance of consumer finance in the American economy. I propose a historical explanation fo...
Wiser, R.; Kahn, E.
Most utility-scale renewable energy projects in the United States are developed and financed by private renewable energy companies. Electric output is then sold to investor-owned and public utilities under long-term contracts. Limited partnerships, sale/leaseback arrangements, and project-financing have historically been the dominant forms of finance in the windpower industry, with project-finance taking the lead more recently. Although private ownership using project-finance is still the most popular form of windpower development, alternative approaches to ownership and financing are becoming more prevalent. U.S. public and investor-owned electric utilities (IOUs) have begun to participate directly in windpower projects by owning and financing their own facilities rather than purchasing windpower from independent non-utility generators (NUGs) through power purchase agreements (PPAs). In these utility-ownership arrangements, the wind turbine equipment vendor/developer typically designs and constructs a project under a turnkey contract for the eventual project owner (the utility). The utility will also frequently sign an operations and maintenance (O&M) contract with the project developer/equipment vendor. There appear to be a number of reasons for utility involvement in recent and planned U.S. wind projects. One important claim is that utility ownership and self-finance provides substantial cost savings compared to contracting with private NUGs to supply wind-generated power. In this report, we examine that assertion.
This work study the self-financing problematic, with particular emphasis on their benefits for the enterprise, but also for shareholders, on domestic or external factors that influence the self-financing decision and its level, on the relationship between self-financing and depreciation, degree of debt and profitability and not in the last line on the self-financing cost. In the factors that acting on the self-financing decision was granted a special attention to taxation, whose impact has be...
Gyoh, L.; Gyoh, S.
Despite the progress made by the democratic government of Nigeria to eradicate poverty, there are still millions of people without access to electricity. It would not be financially viable to extend the national electricity grid to each electoral ward, in remote locations in the country. The use of photovoltaic technology now brings electricity to many rural areas as part of the provision of basic needs by the Nigerian authorities. The Nasarawa State Government has embarked on the provision of all it electoral wards with solar powered water supply systems to carter for a mostly rural population of 3.4 million people. The Benue, Taraba, Bauchi and Jigawa State governments have embarked on similar schemes in Rural Water Supply, Health and the Educational sectors of the economy. Ambitious PV programmes, of this nature, inevitably face challenges in developing countries. The preliminary recommendations, of this ongoing study, have been made to address some of the potential challenges in some of the key areas. This paper reviews the implementation progress and suggests some of the lessons that might be learnt. (authors)
This paper introduces the engineer who is undertaking distributed generation projects to a wide range of financing options. Distributed generation systems (such as internal combustion engines, small gas turbines, fuel cells and photovoltaics) all require an initial investment, which is recovered over time through revenues or savings. An understanding of the cost of capital and financing structures helps the engineer develop realistic expectations and not be offended by the common requirements of financing organizations. This paper discusses several mechanisms for financing distributed generation projects: appropriations; debt (commercial bank loan); mortgage; home equity loan; limited partnership; vendor financing; general obligation bond; revenue bond; lease; Energy Savings Performance Contract; utility programs; chauffage (end-use purchase); and grants. The paper also discusses financial strategies for businesses focusing on distributed generation: venture capital; informal investors (''business angels''); bank and debt financing; and the stock market.
P. Quiry; Y. Le Fur; A. Salvi; M. Dallocchio; P. Vernimmen
Corporate Finance: Theory and Practice, 3rd Edition, the website www.vernimmen.com and the Vernimmen.com newsletter are all written and created by an author team who are both investment bankers/corporate financiers and academics. This book covers the theory and practice of Corporate Finance from a truly European perspective. It shows how to use financial theory to solve practical problems and is written for students of corporate finance and financial analysis and practising corporate financie...
Asgharian, Hossein; Christiansen, Charlotte; Hou, Ai Jun
We investigate long-run stock–bond correlation using a model that combines the dynamic conditional correlation model with the mixed-data sampling approach and allows long-run correlation to be affected by macro-finance factors (historical and forecasts). We use macro-finance factors related...... to inflation and interest rates, illiquidity, state of the economy, and market uncertainty. Macro-finance factors, particularly their forecasts, are good at forecasting long-run stock–bond correlation. Supporting the flight-to-quality phenomenon, long-run correlation tends to be small and negative when...
Lord, Nicholas; Michael Levi,
This article analyses the finances for and the finances from corporate bribery in international business transactions and how they are organised. Transnational corporate bribery involves non-criminal commercial enterprises that operate in licit markets but that use corrupt means to win or maintain business contracts inforeign jurisdictions. This article first considers what needs to be financed, how much finance is needed, and how the bribes can be generated and distributed. Second, the artic...
Full Text Available The 2008 Companies Act 71 of 2008 introduced a new business rescue regime into South African company law, bringing it into line with trends in developed countries, particularly the United States. Indeed, it appears that the United States Chapter 11 model was followed in this process, introducing the business rescue concept as a legal transplant. Corporate law is well suited to legislative borrowing, but there are important caveats to bear in mind when doing so. In particular: the context and legal culture of the country of origin may differ from those of the destination country. South Africa's commercial environment is different from that of the United States, problematising a transplant of Chapter 11's concepts. Post-commencement finance will be used as a micro-study of this broader phenomenon, and this topic will be investigated with comparative reference to the position in the United States. It will be argued that an essential difference between the two procedures is the lack of legislatively mandated court oversight in South Africa. This impacts on the interests of creditors, as well as on the availability of fresh finance. This results in problems in the implementation of the post-commencement finance provisions, which threaten the viability of this particular legal transplant.
True cures in health care are rare but likely not for long. The high price tag that accompanies a cure along with its rapid uptake create challenges in the financing of cures by public and private payers. In the US, the disaggregated nature of health insurance system adds to this challenge as patients frequently churn across multiple health plans. This creates a 'free-rider' problem, where no one health plan has the incentive to invest in cure since the returns will be scattered over many health plans. Here, a new health currency is proposed as a generalized version of a social impact bond that has the potential to solve this free-rider problem, as it can be traded not only between public and private payers but also within the private sector. An ensuing debate as to whether and how to develop such a currency can serve the US health care system well.
Bond, Gary; Carter, Laurence
This paper provides an overview of the recent trend towards private ownership and financing of power projects in the developing countries, focusing on the role played by both private and public agencies in meeting the large financing challenges. The paper draws upon the operational experience of the International Finance Corporation, which has been involved in the financing of more than 30 private power projects in the developing countries over the past three decades. Among the issues that affect implementation of private power projects is the balancing of risk and reward to equity investors and to commercial lenders. The paper discusses the principal sources of risk and the strategies used to manage them. A related issue is the competition for capital on the international markets, and the techniques that are being devised to bring more finance to the power sector. Finally, the paper considers the role of government in bringing private investors to the power sector, and the approaches being adopted to balance the needs of investors with the needs of the public. (author)
The chow's test revealed a significant difference between the welfare of the farmers with micro loan and those without micro credit. Micro enterprise farmers who obtained micro credit to finance their business had better welfare status that those that did not. Key words: Micro Enterprise, Financing, Welfare, Abia State, ...
Miller, Donald; Hite, Nancy Groneman; Slocombe, Tom; Railsback, Barbara
Purpose: In the current economic climate, young people's attitudes and habits related to money management seem to be of great interest. The primary purpose of this study is to advance the knowledge base in the area of personal finance education. Methodology: This survey was administered by English teachers to a convenience sample population of 326…
Full Text Available Political party in the Republic of Macedonia began to operate after independence and the adoption of the Constitution in November 1991 and has since become an integral part of the political scene and the data from the Central Registry of the Republic of Macedonia registered political parties more than 50 political parties active in the current system. The electoral system in the country is set according to the proportional model where direct and free elections by secret ballot to elect members of Parliament and members of the municipal councils and the City of Skopje for four years, while according to the majority model is the selection of the President of the Republic for a term of five years and the election of mayors of municipalities and the City of Skopje for four years. The legal framework for the financing of political parties in the country is well developed. The main law governing the financing of political parties and their supervision law on financing of political parties and the amendments to the same law. The provisions contained in the law is comprehensive, addressing the financing of the regular activities of political parties and their supervision and demonstrate ensuring transparency and accountability in political financing and a ban on anonymous donations and donations from abroad and determine the rules for cap on private donations and prohibiting quid pro quo agreements. Some provisions relating to the financing of political parties included in the Law on Political Parties and certain provisions governing the various supervisory authorities, in particular the Law on Prevention of Corruption and the Law on State Audit footnote. The basic law that regulates elections is the Electoral Code. Under the provisions of the Electoral Code the political parties and election campaign organizers are required to submit financial reports to the authorities to ensure respect for the principles of transparency and accountability and are
Wulandari, Eliana; Meuwissen, Miranda P. M.; Karmana, Maman H.; Oude Lansink, Alfons G. J. M.
Analysing farmer knowledge of the requirements of finance providers can provide valuable insights to policy makers about ways to improve farmers' access to finance. This study compares farmer knowledge of the requirements to obtain finance with the actual requirements set by different finance provider types, and investigates the relation between demographic and socioeconomic factors and farmer knowledge of finance requirements. We use a structured questionnaire to collect data from a sample o...
Cook, Jeffrey J. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Bird, Lori A. [National Renewable Energy Lab. (NREL), Golden, CO (United States)
Historically the low and moderate income (LMI) market has been underserved by solar photovoltaics (PV), in part due to the unique barriers LMI residents face to participation in the PV market. The intent of this report is to identify the most promising strategies state policymakers might consider to finance PV for LMI customers across three housing types: single family, multi-family, and manufactured housing. The result is a financing matrix that documents the first and second tier financing options states may consider for each housing type. The first tier options were selected based upon their potential impact on LMI PV deployment. Second tier financing approaches could also be used to achieve state policy goals, but may not have as much effect on the relevant LMI market segment. Nevertheless, each financing option comes with tradeoffs that state policymakers may wish to consider when they make decisions about which financing approaches are best suited to achieve their LMI PV deployment goals.
Sebastian Ion CEPTUREANU
Full Text Available Non-governmental organizations (NGOs have become increasingly important in the last decade for the Romanian society. They raise public awareness for human rights, promote development of democracy and seek to improve the well-being of communities by being increasingly engaging in various development, educational, social or health projects. Unfortunately, many NGOs has to cope with significant financing problems since competition for resources amplified and some of the traditional donors cut or reduced support. This paper analyze financing issues in NGOs, based on a quantitative analysis, using a structured questionnaire. Since it is one of the very few studies covering Romania, the scope of the paper was to provide for those involved or interested in NGO sector new data concerning, for instance, sources of revenue or destination of resources, enabling NGOs executives to build financial sustainable organizations.
The majority of renewable energy technology projects now being developed use long term project financing to raise capital. The financial community scrutinizes renewables more closely than some conventionally fueled electric generation facilities because it perceives renewables as risky and expensive. Renewables pay for this perceived risk through higher interest charges and other more restrictive loan covenants. Risks that are not eliminated in the power sales agreement or through some other means generally result in higher project costs during financing. In part, this situation is a product of the private placement market and project finance process in which renewable energy facilities must function. The project finance process attracts banks and institutional lenders as well as equity investors (often pension funds) who do not want to place their capital at great risk. Energy project finance exists on the basis of a secure revenue stream and a thorough understanding of electric generation technology. Renewables, like all energy projects, operating in uncertain regulatory environments are often difficult to finance. In the uncertain regulatory environment in which renewables now operate, investors and lenders are nervous about challenges to existing contracts between independent power producers and utilities. Challenges to existing contracts could foretell challenges to contracts in the future. Investors and lenders now look to state regulatory environments as an indicator of project risk. Renewable energy technology evolves quickly. Yet, often the information about technological evolution is not available to those who invest in the energy projects. Or, those who have invested in new renewable energy technology in the past have lost money and are nervous about doing so in the future - even though technology may have improved. Inadequate or unfavorable information is a barrier to the development of renewables.
McMahon, Walter W.
A new approach is suggested that depends on and measures how spending on higher and basic education is really an investment in the future, not consumption spending. This is a vital distinction because investment in human capital contributes heavily to growth and development, but also to higher state tax revenue and lower Medicaid, child care,…
Hirth, Stefan; Flor, Christian Riis
Intuition suggests that corporate investment should be decreasing in financing constraints. We show that even when financing is obtained using a standard debt contract and there is symmetric information between the firm and outside investors, the relation is actually U-shaped. We thus provide a new...... theoretical explanation for the recent empirical findings of Cleary et al. (2007). We split up the endogenously implied financing costs and propose a trade-off between expected liquidation costs and second-best investment costs. For rather unconstrained firms, the risk of costly liquidation dominates the cost...
Full Text Available Small- and medium-sized enterprises (SMEs are the important driving forces for the growth of China’s economy. However, financing difficulty has always been the important problem besetting the development of SMEs for a long time. In particular, in recent years, US subprime crisis in 2008 caused a heavy blow to the development of some externally oriented SMEs. Thus, how to effectively overcome financing predicament for the SMEs is crucial for Chinese government. In this paper, based on microdata from China Industrial Enterprise Database, propensity score matching (PSM method is adopted to conduct empirical analysis about the treatment effects of indirect financing level of SMEs under different systems. Empirical results reveal that state-owned enterprises enjoy indirect financing advantages compared with other enterprises and there is certain ownership discrimination against foreign-funded enterprises and private enterprises. In particular, the indirect financing rate of state-owned enterprises is 1.4% higher than that of other enterprises, and the indirect financing rate of foreign-funded enterprises is 6% lower than that of other enterprises; private enterprises are advantageous in indirect financing compared with other enterprises; however, indirect financing rate of private enterprises is 1.8% lower than that of state-owned enterprises, which also reveals ownership discrimination to certain extent.
Guarino, Cassandra M.; Galama, Titus; Constant, Louay; Gonzalez, Gabriella; Tanner, Jeffery C.; Goldman, Charles A.
Reform-minded leaders of Qatar, who have embarked on a sweeping reform of their nation's education system, asked RAND to evaluate the education finance system that has been adopted and to offer suggestions for improvements. The authors analyze the system's evolution and resource allocation patterns between 2004 and 2006 and develop analytic tools…
Dmitry Klinovoi, Peter Rogov
The principles of the permanent financing of necessities of state development, national safety and defensive due to forming of legal institute of civil property on natural resources and mechanisms of the sovereign financing by receivabless from natural rent are grounded here. The description of sovereign fund and fund of civil dividends as institutes of accumulation of state facilities and management of assets is given here.
In this thesis, Personal and family finances, subtitled Finances of university student. It is discussed on the way to a happier life through management of personal finances. Just as it is necessary to control corporate finance, it is necessary everyone managed own personal finances. It is indicated as appropriate to tackle your finances,what to focus on, and it's practically demonstrated on the example of a university student. There are analyzed his goals and needs, then it is outlined possib...
El Massah, Suzanna Sobhy; Fadly, Dalia
Purpose: The study uses data drawn from a senior finance major cohort of 78 female undergraduates at Zayed University (ZU)-UAE to investigate factors, which increase the likelihood of achieving better academic performance in an Islamic finance course based on information about socioeconomic background of female students. The paper aims to discuss…
This chapter describes the typical type of financing agreements which are currently used to finance North Sea petroleum projects whether they are in the cause of development or have been developed and are producing. It deals with the agreements which are entered into to finance borrowings for petroleum projects on a non-resource or limited resource basis. (UK)
Zwerdling, A. L.
To meet the challenge of equal educational opportunity, current methods of public school finance must be revised. The present financial system, based on State equalization of local property tax valuation, is inequitable since it results in many school districts, particularly those in large cities, having inadequate resources to meet extraordinary…
Congress should enact legislation that supports residential property assessed clean energy (PACE) programs in the nation’s states and metropolitan areas. Such legislation should require the Federal Housing Finance Agency (FHFA) to allow Fannie Mae and Freddie Mac to purchase residential mortgages with PACE assessments while at the same time providing responsible underwriting standards and a set of benchmarks for residential PACE assessments in order to minimize financial risks to mortgage holders. Congressional support of residential PACE financing will improve energy efficiency, encourage job creation, and foster economic growth in the nation’s state and metropolitan areas.
Financing radioactive waste management is an issue every country using nuclear power has to deal with. A European directive even makes this binding for Euratom Member States. Germany changed its financing scheme entirely during the past year, thereby moving closer to other states' schemes. Germany replaced the funds put aside by the operators with a public fund to which the companies contribute. Now it is the government that is responsible for radioactive waste. This paper describes the regulation and information collection system on the European level and analyses the former and current German systems, their advantages and potential hazards. (orig.)
Patiniotis, Nikitas; Stavroulakis, Dimitris
Vocational education in Greece has been slow to develop due to a labor market favoring low-skilled labor and a culture encouraging university education. Lack of continuity in national policy and low state financing have resulted in a system unable to deal with such crucial issues as unemployment and new technologies. (SK)
... Information Collection: Housing Finance Agency Risk-Sharing Program AGENCY: Office of the Chief Information... Title of Information Collection: Housing Finance Agency Risk- Sharing Program. OMB Approval Number: 2502... sharing with State and local housing finance agencies (HFAs). Under this program, HUD provides full...
... DEPARTMENT OF ENERGY Conditional Commitment for a Federal Loan Guarantee for Project Financing for... based on the analysis in the Final Environmental Impact Statement for Project Financing for Southwest... support of debt financing for transmission infrastructure investment projects located in the United States...
Australia's finance and insurance industry is among the 5 industry divisions in which females outnumber males. Women's share of industry jobs has risen from 51% to 55% in the last decade. However, there is a pronounced gap in earnings between male and female workers. Employers expressed below-average satisfaction with vocational education and…
The term "community college business and finance model" is unlikely to evoke a positive response from educators who resist labeling students as "customers," do not want to call the college's offerings "products," and don't like to hear the college referred to as a "business." Faculty and staff tend…
Homoniuk, Olena; Pokudina, Larysa
The article touches on the peculiarities of future finance and economics specialists' training in educational establishments of Western Europe and Ukraine. The problem of higher economic education has been considered. The experience of higher economic education organization in developed European countries has been generalized. The peculiarities of…
...; NPEFS 2011-2014: Common Core of Data (CCD) National Public Education Financial Survey SUMMARY: The National Public Education Financial Survey (NPEFS) is an annual collection of state-level finance data that...) National Public Education Financial Survey. OMB Control Number: 1850-0067. Type of Review: Extension. Total...
Some of the innovative financing options being considered by developing countries and economies in transition as ways of mobilizing international energy financing are discussed. Build-Own-Operate (BOO) and Transfer (BOOT) is the most commonly adopted approach. This involves limited resource financing of a project on the basis of the associated cash flow and risks and not on the credit of the project owners. The World Bank has set up the Multilateral Investment Guarantee Agency to provide, on a fee basis, guarantees against certain non-commercial forms of risk in order to promote international capital flow to developing countries. In 1989, the World Bank introduced the Expanded Co-financing Operations (ECO) programme as an instrument to catalyze the flow of private finance into developing countries and to improve their access to international financial markets. Other financial instruments currently being established include: leasing of equipment or whole plants by foreign investors; private ownership or operation of generation and distribution facilities; exchange of specific export goods for energy imports; developing instruments to finance local costs; revenue bonds; tax-exempt bonds; sale of electricity futures to those seeking more stable, longer term electricity price contracts. (UK)
Chua, Hong Teck; Cheah, Julius Chee Ho
One of the challenges to maintain an agenda for universal coverage and equitable health system is to develop effective structuring and management of health financing. Global experiences with different systems of health financing suggests that a strong public role in health financing is essential for health systems to protect the poor and health systems with the strongest state role are likely the more equitable and achieve better aggregate health outcomes. Using Malaysia as a case study, this paper seeks to evaluate the progress and capacity of a middle income country in terms of health financing for universal coverage, and also to highlight some of the key underlying health systems challenges.The WHO Health Financing Strategy for the Asia Pacific Region (2010-2015) was used as the framework to evaluate the Malaysian healthcare financing system in terms of the provision of universal coverage for the population, and the Malaysian National Health Accounts (2008) provided the latest Malaysian data on health spending. Measuring against the four target indicators outlined, Malaysia fared credibly with total health expenditure close to 5% of its GDP (4.75%), out-of-pocket payment below 40% of total health expenditure (30.7%), comprehensive social safety nets for vulnerable populations, and a tax-based financing system that fundamentally poses as a national risk-pooled scheme for the population.Nonetheless, within a holistic systems framework, the financing component interacts synergistically with other health system spheres. In Malaysia, outmigration of public health workers particularly specialist doctors remains an issue and financing strategies critically needs to incorporate a comprehensive workforce compensation strategy to improve the health workforce skill mix. Health expenditure information is systematically collated, but feedback from the private sector remains a challenge. Service delivery-wise, there is a need to enhance financing capacity to expand preventive
Debt financing is an important part in capital structure. Over the fifty years, most scholars and researchers focus primarily on the balance between debt financing and equity financing. And only few research involve in types of debt financing, as well as the determinant of debt financing. This study is aim to analyse the determinate of debt financing, which examine that the influence by eight different elements. This dissertation examined by quantitative techniques with 591 UK listed comp...
Loibl, Cäzilia; Fisher, Patti J.
Despite public support for personal finance instruction in high school, its effectiveness has not been firmly established. The current study investigates instructional approaches as a reason for these inconsistent outcomes by comparing survey responses of business education, family and consumer sciences, and social studies/economics teachers. The…
Full Text Available This study aims to determine the factors that affect the equity financing at the Islamic Banking which covers quantitative financing profit and loss sharing and to formulate policies to be performed by the management in maintaining the financing growth. The study was conducted by utilizing Autoregressive Distributed Lag (ARDL model with variables including BI rate and inflation as the external factor. The test results of both external factors indicated a negative impact on both financing. BI rate as an indicator of the government's policy becomes the fastest variable affecting the equity financing i.e. at lag 1. Inflation comes as the macroeconomic indicator at lags 2, 9 and 10. All internal factors have a negative impact on both financing types except for the cost of education and training, and autoregressive variables. The fund of the third party influences the sharing of profit and loss (mudharabah at lag 1 and at 9, meanwhile the capital adequacy ratio affects the profit sharing (mudharabah at lag 8, and it affects the loss sharing (musyarakah at lag 6. The cost of education and training has an effect on loss sharing at lag 5, and Islamic banking basic education affects profit financing at lag 2 whereas the trend of financing profit sharing is at lag 8 and loss sharing at lags 1 and 2 and since it autoregressive, it affects each financing of the current period.Keywords: autoregressive, dynamic, mudaraba, musharaka, profit and loss sharing financingABSTRAKPenelitian ini bertujuan mengetahui faktor-faktor yang memengaruhi pembiayaan berbasis bagi hasil pada Bank Syariah yang meliputi pembiayaan mudharabah dan musyarakah secara kuantitatif dan merumuskan kebijakan-kebijakan yang dapat dilakukan manajemen dalam menjaga pertumbuhan pembiayaannya. Penelitian dilakukan menggunakan Autoregressive Distributed Lag (ARDL Model dengan variabel yang digunakan meliputi BI Rate dan inflasi sebagai faktor eksternal. Hasil pengujian kedua faktor eksternal
... Information Collection: Housing Finance Agency Risk-Sharing Program AGENCY: Office of the Assistant Secretary... Finance Agency Risk- Sharing Program. OMB Approval Number: 2502-0500. Type of Request (i.e. new, revision... Secretary to implement risk sharing with State and local housing finance agencies (HFAs). Under this program...
Ludkovski, Michael; Sircar, Ronnie
This volume is a collection of chapters covering the latest developments in applications of financial mathematics and statistics to topics in energy, commodity financial markets and environmental economics. The research presented is based on the presentations and discussions that took place during the Fields Institute Focus Program on Commodities, Energy and Environmental Finance in August 2013. The authors include applied mathematicians, economists and industry practitioners, providing for a multi-disciplinary spectrum of perspectives on the subject. The volume consists of four sections: Electricity Markets; Real Options; Trading in Commodity Markets; and Oligopolistic Models for Energy Production. Taken together, the chapters give a comprehensive summary of the current state of the art in quantitative analysis of commodities and energy finance. The topics covered include structural models of electricity markets, financialization of commodities, valuation of commodity real options, game-theory analysis of ...
Shobande Abdul Olatunji
Full Text Available The role which financing human development plays in fostering the sectorial growth of an economy cannot be undermined. It is a key instrument which can be utilized to alleviate poverty, create employment and ensure the sustenance of economic growth and development. Thus financing human development for sectorial growth has taken the center stage of economic growth and development strategies in most countries. In a constructive effort to examine the in-depth relationship between the variables in the Nigerian space, this paper provides evidence on the impact of financing human development and sectorial growth in Nigeria between 1982 and 2016, using the Johansen co-integration techniques to test for co-integration among the variables and the Vector Error Correction Model (VECM to ascertain the speed of adjustment of the variables to their long run equilibrium position. The analysis shows that a long and short run relationship exists between financing human capital development and sectorial growth during the period reviewed. Therefore, the paper argues that for an active foundation for sustainable sectorial growth and development, financing human capital development across each unit is urgently required through increased budgetary allocation for both health and educational sectors since they are key components of human capital development in a nation.
Full Text Available The study of behavioral finance combines the investigation and expertise from research and practice into smart portfolios of individual investors’ portfolios. Understanding cognitive errors and misleading emotions drive investors to their long-term goals of financial prosperity and capital preservation. 10 years ago, Behavioral Finance was still considered an incipient, adolescent science. First Nobel Prize in Economics awarded to the study of Behavioral Economics in 2002 established the field as a new, respected study of economics. 2013 Nobel Prize was awarded to three economists, one of them considered the one of the founders of the Behavioral Finance. As such, by now we are entering the coming of age of behavioral finance. It is now recognized as a science of understanding investors behaviors and their biased patterns. It applies quantitative finance and provides practical models grounded on robust understanding of investors behavior toward financial risk. Financial Personality influences investment decisions. Behavioral portfolio construction methods combine classic finance with rigorously quantified psychological metrics and improves models for financial advice to enhance investors chances in reaching their lifetime financial goals. Behavioral finance helps understanding psychological profile dissimilarities of individuals and how these differences manifest in investment decision process. This new science has become now a must topic in modern finance.
Mumford, E.B. Jr.
Biomass-energy and alternative-fuels projects make environmental sense, but do they make economic sense? In the current project-finance environment, moving ideas off the drawing board and transforming them into reality takes more than vision and commitment; it takes the ability to understand and address the financial markets' perception of risk. This paper examines the state of the project-finance market, both as it pertains to biomass and alternative-fuels projects and in more general terms, focusing on what project sponsors and developers need to dot to obtain both early-state and construction/term financing, and the role a financial adviser can play in helping ensure access to funds at all stages
RADU NICOLAE BĂLUNĂ
Full Text Available Financing (funding is essentially the purchase of funds necessary for a business. This can be done from internal sources (company’s own funds or external (borrowed funds. The high value of goods traded in international trade makes revenues generated from internal resources not sufficient to settle the value of the goods. Thus, it is frequent to resort to borrowed funds. In International Business Transactions, external financing is done both by classical techniques of credit (credit supplier and buyer credit and modern techniques of financing (factoring, forfeiting, leasing all trade tailored. In terms of the length of financing, accounting funding is short-term (1-12 months and long-term financing (over a year. In principle, export and import operations prevailing short-term financing techniques, while international investment and industrial cooperation actions are specific long-term funding
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Hirschhausen, Christian von
The transformation of the European energy system towards a low carbon industry requires substantial investment and financing. According to the Energy Infrastructure Package (EIP), around one trillion euros must be invested in the European energy system until 2020. Out of the euro 200 billion required investment for transmission networks, only half of the capital will be provided by markets. This leaves a financial gap of ca. euro 100 bn. and poses a question on the EU role in financing European energy infrastructures. This policy paper by Christian Von Hirschhausen focuses on the future financing of trans-European energy infrastructures. After providing an overview of the long-term infrastructure needs and of the various instruments that currently exist to finance these infrastructures, the author discusses various aspects related with the planning and financing of cross border energy infrastructures with the help of a case study: the North Sea Grid Project. On the basis of the North Sea example, he highlights the importance of adopting a regulatory approach balancing European and Member States' interests as well as of streamlining and expanding the EU financial support to sustainable energy infrastructures
The main activities of the Export Development Corporation (EDC) were described, as well as some of the changes currently being implemented. EDC is Canada's official export credit agency, providing risk management services such as insurance, loans, guarantees, equity and leasing. EDC's project finance initiative started in 1991, and focused mainly on the up-front process. It has established itself as a recognized leader in project financing. It has over 15 years experience in a variety of sectors and countries. Energy projects financed to date include hydro projects in India, Argentina and Pakistan, and thermal projects in Thailand, China, Indonesia and Egypt. Lending criteria used to select projects were outlined, along with the risks endemic to project financing
The present paper argues that the present Internet conditions favour an entirely new finance model. Understood to soon supplement the existing ones (classical finance, corporate finance, and Islamic finance), it is argued that the new model will be defined by the destructive effect it is to have on the contemporary financial infrastructure of most countries, and the advent of the ‘future money value exceeds its present one’ principle.
Substance Misuse and Addiction Prevention Finance & Management Services Health Care Services Juvenile health care provider about vitamin D and the risks and benefits of supplementation. Finance and Management Services The Division of Finance and Management Services (FMS) provides financial, administrative
The viability of many Renewable Energy projects is critically dependent upon the ability of these projects to secure the necessary financing on acceptable terms. The principal objective of the study was to provide an overview to project developers of project financing techniques and the conditions under which project finance for Renewable Energy schemes could be raised, focussing on the potential sources of finance, the typical project financing structures that could be utilised for Renewable Energy schemes and the risk/return and security requirements of lenders, investors and other potential sources of financing. A second objective is to describe the appropriate strategy and tactics for developers to adopt in approaching the financing markets for such projects. (author)
Banwell, B B
In analyzing the costs of optometric education, it becomes apparent that the cost of operating the educational institution far exceeds the cost of providing the optometric education. A recent survey also indicates that there are rather striking differences in the cost of operating state-sponsored vs. private programs. It is necessary, therefore, to seek alternative sources of funding optometric education rather than relying on annual tuition escalation to cover increasing costs. Such sources include: realistic fees for clinic program services; various forms of state grants, private institution programs, tuition subsidies; foundations; gifts; "industrial partnerships" outside the ophthalmic field; and innovative financing.
Roper, W L; Winkenwerder, W
An estimated 40 percent of the nation's 55,000 persons with acquired immunodeficiency syndrome (AIDS) have received care under the Medicaid Program, which is administered by the Health Care Financing Administration (HCFA) and funded jointly by the Federal Government and the States. In fiscal year 1988, Medicaid will spend between $700 and $750 million for AIDS care and treatment. Medicaid spending on AIDS is likely to reach $2.4 billion by fiscal year 1992, an estimate that does not include costs of treatment with zidovudine (AZT). Four policy principles are proposed for meeting this new cost burden in a way that is fair, responsive, efficient, and in harmony with our current joint public-private system of health care financing. The four guidelines are to (a) treat AIDS as any other serious disease, without the creation of a disease-specific entitlement program; (b) bring AIDS treatment financing into the mainstream of the health care financing system, making it a shared responsibility and promoting initiatives such as high-risk insurance pools: (c) give States the flexibility to meet local needs, including Medicaid home care and community-based care services waivers; (d) encourage health care professionals to meet their obligation to care for AIDS patients. PMID:3131823
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... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false United States. 585.316 Section 585.316 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) OFFICE OF... General Definitions § 585.316 United States. The term United States means the United States, its...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false United States. 575.319 Section 575.319 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) OFFICE OF....319 United States. The term United States means the United States, its territories and possessions...
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... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false United States. 551.309 Section 551.309 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) OFFICE OF....309 United States. The term United States means the United States, its territories and possessions...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false United States. 547.310 Section 547.310 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) OFFICE OF... General Definitions § 547.310 United States. The term United States means the United States, its...
Hansen, Per H.
In this article I interpret 150 years of financial history with a focus on shifts in the role of finance in society. I argue that over time the role of finance has shifted twice from that of servant to that of master of society, and that this process has been driven by sense making through...... narratives that legitimized and shaped these changes. When finance became a master rent seeking, cultural capture and out-of control financial innovation resulted in financial and social instability. Finance as a master was the characteristic of finance capitalism from around 1900......–1931 and of financialization from around 1980 to today. Finance capitalism and financialization were enabled by a dominant narrative that legitimized the power of finance. The shifts in the role of finance happened when crises undermined the meaning of the existing narrative and created for a new narrative able to make sense...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false United States. 598.317 Section 598.317 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) OFFICE OF... Definitions § 598.317 United States. The term United States means the United States, its territories and...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false United States. 596.312 Section 596.312 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) OFFICE OF... General Definitions § 596.312 United States. The term United States means the United States, including its...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false United States. 538.314 Section 538.314 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) OFFICE OF... § 538.314 United States. The term United States means the United States, its territories and possessions...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false United States. 543.310 Section 543.310 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) OFFICE OF... Definitions § 543.310 United States. The term United States means the United States, its territories and...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false United States. 594.313 Section 594.313 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) OFFICE OF... Definitions § 594.313 United States. The term United States means the United States, its territories and...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false United States. 588.310 Section 588.310 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) OFFICE OF... Definitions § 588.310 United States. The term United States means the United States, its territories and...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false United States. 536.315 Section 536.315 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) OFFICE OF... Definitions § 536.315 United States. The term United States means the United States, its territories and...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false United States. 544.310 Section 544.310 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) OFFICE OF... REGULATIONS General Definitions § 544.310 United States. The term United States means the United States, its...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false United States. 545.313 Section 545.313 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) OFFICE OF... Definitions § 545.313 United States. The term United States means the United States, its territories and...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false United States. 595.314 Section 595.314 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) OFFICE OF... § 595.314 United States. The term United States means the United States, its territories and possessions...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false United States. 560.307 Section 560.307 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) OFFICE OF... § 560.307 United States. The term United States means the United States, including its territories and...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false United States. 593.311 Section 593.311 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) OFFICE OF... REGULATIONS General Definitions § 593.311 United States. The term United States means the United States, its...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false United States. 541.310 Section 541.310 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) OFFICE OF... § 541.310 United States. The term United States means the United States, its territories and possessions...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false United States. 540.313 Section 540.313 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) OFFICE OF... REGULATIONS General Definitions § 540.313 United States. The term United States means the United States, its...
Atteridge, A.; Pauw, W.P.; Terpstra, P.; Bedini, F.; Bosi, L; Costella, C.
An emphasis on private finance has emerged in climate finance discussions, particularly in the context of international climate change negotiations. This is partly because the overall volume of finance needed to support adaptation in developing countries is beyond what many expect public finance to
Godier, Kevin; Marks, Jon
Contains Executive Summary and Chapters on: Overview of financing trends in Africa; Multilateral support - Bedrock of Africa's first generation energy projects; ECA insurance and financing; Bilateral development finance; Offshore commercial bank lending; Local commercial bank finance; Capital markets; Legal ramifications ; Risk factors; Conclusions. (Author)
Quantitative finance is a field that has risen to prominence over the last few decades. It encompasses the complex models and calculations that value financial contracts, particularly those which reference events in the future, and apply probabilities to these events. While adding greatly to the flexibility of the market available to corporations and investors, it has also been blamed for worsening the impact of financial crises. But what exactly does quantitative finance encompass, and where did these ideas and models originate? We show that the mathematics behind finance and behind games of chance have tracked each other closely over the centuries and that many well-known physicists and mathematicians have contributed to the field.
Binnendijk, Erika; Koren, Ruth; Dror, David M
This study examines health-related "hardship financing" in order to get better insights on how poor households finance their out-of-pocket healthcare costs. We define hardship financing as having to borrow money with interest or to sell assets to pay out-of-pocket healthcare costs. Using survey data of 5,383 low-income households in Orissa, one of the poorest states of India, we investigate factors influencing the risk of hardship financing with the use of a logistic regression. Overall, about 25% of the households (that had any healthcare cost) reported hardship financing during the year preceding the survey. Among households that experienced a hospitalization, this percentage was nearly 40%, but even among households with outpatient or maternity-related care around 25% experienced hardship financing.Hardship financing is explained not merely by the wealth of the household (measured by assets) or how much is spent out-of-pocket on healthcare costs, but also by when the payment occurs, its frequency and its duration (e.g. more severe in cases of chronic illnesses). The location where a household resides remains a major predictor of the likelihood to have hardship financing despite all other household features included in the model. Rural poor households are subjected to considerable and protracted financial hardship due to the indirect and longer-term deleterious effects of how they cope with out-of-pocket healthcare costs. The social network that households can access influences exposure to hardship financing. Our findings point to the need to develop a policy solution that would limit that exposure both in quantum and in time. We therefore conclude that policy interventions aiming to ensure health-related financial protection would have to demonstrate that they have reduced the frequency and the volume of hardship financing.
Full Text Available Abstract Background This study examines health-related "hardship financing" in order to get better insights on how poor households finance their out-of-pocket healthcare costs. We define hardship financing as having to borrow money with interest or to sell assets to pay out-of-pocket healthcare costs. Methods Using survey data of 5,383 low-income households in Orissa, one of the poorest states of India, we investigate factors influencing the risk of hardship financing with the use of a logistic regression. Results Overall, about 25% of the households (that had any healthcare cost reported hardship financing during the year preceding the survey. Among households that experienced a hospitalization, this percentage was nearly 40%, but even among households with outpatient or maternity-related care around 25% experienced hardship financing. Hardship financing is explained not merely by the wealth of the household (measured by assets or how much is spent out-of-pocket on healthcare costs, but also by when the payment occurs, its frequency and its duration (e.g. more severe in cases of chronic illnesses. The location where a household resides remains a major predictor of the likelihood to have hardship financing despite all other household features included in the model. Conclusions Rural poor households are subjected to considerable and protracted financial hardship due to the indirect and longer-term deleterious effects of how they cope with out-of-pocket healthcare costs. The social network that households can access influences exposure to hardship financing. Our findings point to the need to develop a policy solution that would limit that exposure both in quantum and in time. We therefore conclude that policy interventions aiming to ensure health-related financial protection would have to demonstrate that they have reduced the frequency and the volume of hardship financing.
Mario Roberto Dal Poz
Full Text Available Abstract: The article analyzes the configuration and trends in institutions of Higher Education and their relationship as components of the Health Economic-Industrial Complex (HEIC. The expansion of higher education is part of the transition from elite to mass systems, with tensions between quantitative and qualitative aspects. Such changes reflect different cultures and are related to international phenomena such as globalization, economic transformations, the development of new information and communication technologies, and the emergence of an international knowledge network. The scale and content of these changes vary according to the expansion and institutional reconfiguration of educational systems, as well as the link between state and society. Market expansion for private higher education stirs competition, shapes business clusters, modifies training processes, and raises new public policy challenges.
Full Text Available In this paper, we describe how Shenzhen A-share listed companies used funds raised in over-financed IPOs during the 2006–2010 period. In exploring the relationship between internal corporate governance and the use of funds raised in over-financed IPOs, we find that the use of such funds to engage in severe over-investment behavior is prevalent among listed companies. Reasonable internal corporate governance mechanisms can effectively alleviate over-investment problems listed companies encounter in using funds raised in over-financed IPOs. However, the same individual serving as both chairman and CEO leads to funds raised in over-financed IPOs being over-invested. Moreover, executives driven by high levels of monetary compensation are more likely to use funds raised in such IPOs to engage in over-investment. We find that improving the balance of power between shareholders will help alleviate the over-investment of excess IPO funds. In addition, the over-investment problem is less severe in state-controlled listed companies than in their non-state-controlled listed counterparts. This study provides policy recommendations for Chinese securities regulators to ensure listed companies use funds raised in over-financed IPOs both rationally and effectively.
A state-of-the-art introduction to the powerful mathematical and statistical tools used in the field of financeThe use of mathematical models and numerical techniques is a practice employed by a growing number of applied mathematicians working on applications in finance. Reflecting this development, Numerical Methods in Finance and Economics: A MATLAB?-Based Introduction, Second Edition bridges the gap between financial theory and computational practice while showing readers how to utilize MATLAB?--the powerful numerical computing environment--for financial applications.The author provides an essential foundation in finance and numerical analysis in addition to background material for students from both engineering and economics perspectives. A wide range of topics is covered, including standard numerical analysis methods, Monte Carlo methods to simulate systems affected by significant uncertainty, and optimization methods to find an optimal set of decisions.Among this book''s most outstanding features is the...
Sanyal, Bikas C.
Resources for higher education in the Arab states have depended on the overall economic situation of the countries in the region, and the economic growth of the region has been disappointing over the years. Of the 16 countries of the region, 7 had a negative average annual growth rate during the period 1960 to 1994, and 3 countries had an average…
Ribeiro Filho, Valfredo de Assis; Ramos, Maria Olivia de Souza [Universidade Salvador (UNIFACS), BA (Brazil)
The aim of this paper is to discuss the modality of project finance of financing of enterprises, which is the main modality of structuring of hydroelectric projects in Brazil. In the discussion will be highlighted the importance of contracts EPC (Engineering, Search and Construction) in the structuring of project finances. This financing model has particular characteristics related to risk sharing and financial flexibility that enable the financing of projects with long-term capital, however, due to participation of various actors and the nature of the structure of project finance, the negotiation and drafting of contracts are always very complex.
Household finance is a young and vibrant research field that continuously attracts public attention. There may be very few matters that people care so much about as their personal finance. Recent rise of academic interest in household finance is to a great extent due to households’ more active role
Ces deux ouvrages tirent les enseignements de l’impact de la crise de la finance mondiale sur l’économie réelle et se focalisent, dans ce contexte, sur le financement du Mittelstand. Le banquier JASCHINSKI, lorsqu’il passe en revue le système bancaire allemand, constate ainsi que si les moyennes entreprises trouvent les crédits nécessaires auprès de leurs solides partenaires de toujours que sont les Sparkassen, les grandes sociétés, internationales, que compte le Mittelstand n’ont pas de part...
Serna, Gabriel Ramom
It is arguably the case that one of the most pressing issues in higher education finance is the increasing price of obtaining a college education, and, more specifically, rising tuition and fees. Because state support to public higher education and tuition and fees at publicly supported colleges and universities have been shown to share an inverse…
A primer on financing international operations by Canadian corporations was provided. Factors affecting the availability to project finance (location, political risk), the various forms of financing (debt, equity, and combinations), the main sources of government backed financing to corporations (the International Finance Corporation) (IFC), the European Bank for Reconstruction and Development (EBRD), the Asian Development Bank (ADB), the Overseas Property Insurance Corporation (OPIC), government or agency guarantees, political risk coverage, the use of offshore financial centres, and the where, when and how these various organizations operate, were reviewed. Examples of all of the above, taken from the experiences of Canadian Occidental Petroleum of Calgary in the U.S., in South America, in the Middle and Far East, and in Kazakhstan, were used as illustrations. figs
From 1980 there is in force in Spain a proper legal framework that could be considered a sound support to further cogeneration development. Despite this cogeneration law, a very few schemes were built. In 1986 IDAE, a state company attached to the Spanish Ministry of Industry and Energy, began a Cogeneration Programme focussed to a higher cogeneration utilisation. This programme has three main foundations: Technology dissemination; Technical support; Investment financing. As a result of these activities more than 1000 MW additional power schemes have been ordered all over the country and, as a consequence, cogenerated electricity will be multiplied by three in respect with the previous situation. A 20% of this new capacity has been developed directly by IDAE, that has invested approximately 90 million US Dollar through third party financing technics. The National Energy Plan 1991-2000 established the energy policy actuations in Spain for the present decade, giving importance to cogeneration development. This paper explains the way this development has been achieved, outlining IDAE's engagement to finance combined heat and power schemes through its comprehensive way of performing third party financing systems. (au)
The Dubai International Financial Centre (“DIFC”) has become an important component of an increasingly significant global market for Islamic finance. However, the state of academic discussion has not necessarily kept pace with its growing economic import. This paper improves the current state of literature by (1) examining the current regulatory infrastructure for securities and Islamic finance in the DIFC, (2) comparing its regulatory model with those of other important Islamic finance juris...
Karla Cristina Silva Sousa
Full Text Available The article discusses the relationship between state and federalism as a political and administrative organizational form of the state and its implications in Brazilian educational policy. For that, we follow the analysis of the concepts of State, federalism, and educational policies from the classics of Machiavelli (2001, Locke (1998, Rousseau (1999, Hamilton, Jay and Madison (2003, Abrucio Arretche (1996, among others. Therefore, we see that the new Brazilian federalism based on the model proposed by the American Constitution brings the local powers – the municipalities – as new agents within the educational policy and the collaboration regime as a means of effecting cooperative federalism in Brazil. We conclude that the federalism, in Brazilian model, presents itself as demos constraining the national sub-governments.
Full Text Available This chapter analyses the Muslim Brotherhood movement (Ikhwan al-muslimin in its various guises. Born in the interwar period, this global, proselytising Islamic movement underwent a veritable resurgence, even a resurrection, in Muslim countries from the 1980s onwards. Founded in 1928 by the Egyptian Hassan al-Banna (1906–1949, the recent ‘Arab Spring’ phenomenon has given it fresh momentum. Significantly, the Muslim Brotherhood movement has taken the reins of Egypt, the most populous state in the Arab world. Wherever this movement gains a foothold, it creates its own labour unions, associations of students, doctors and workers, Islamic banking institutions, and so forth. More specifically, the chapter examines the nature of the Islamic state and the key characteristics of the politico-religious doctrine of the Muslim Brotherhood and its various offshoot Islamist parties, both in the Maghreb and elsewhere. The author sheds light on the Muslim Brotherhood’s economic, social and financial vision through an examination of the various techniques they employ with respect to Islamic finance. While the Muslim financial model is driven by considerations of social justice (‘adala ijtima’iya and the rejection of usury (riba, it is nevertheless argued that its emphasis on profit maximisation renders this model’s vision essentially capitalist. The chapter thus calls for a refocusing and adaptation of the approach of Islamic banks in order to make their financing accessible for small projects undertaken by the disenfranchised.
Colwell, William Bradley
Due to state legislatures' reluctance to initiate school-funding reform, judicial bodies are asked to provide relief from alleged inequities. Before providing judicial review, the judiciary must decide whether an issue is justiciable (does not violate separation of powers) and warrants court intervention. Children's education has not substantially…
Ogden, Lydia L
In the United States, fiscal and functional federalism strongly shape public health policy and programs. Federalism has implications for public health practice: it molds financing and disbursement options, including funding formulas, which affect allocations and program goals, and shapes how funding decisions are operationalized in a political context. This article explores how American federalism, both fiscal and functional, structures public health funding, policy, and program options, investigating the effects of intergovernmental transfers on public health finance and programs.
... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Financing. 882.405 Section 882.405... § 882.405 Financing. (a) Types. Any type of public or private financing may be utilized with the... Contract as security for financing. An Owner may pledge, or offer as security for any loan or obligation...
It is the basic contention of this paper that, because of certain factors in the financial markets, multi-country financing (MCF) is the new alternative if not the imperative for large scale and turnkey nuclear plant programs in developing countries. The point is made that its successful use depends on the ability of the host country, the credit granting countries and suppliers to both recognize the MCF reality and manage its implicit variables. Those who collectively do so will be successful, and those who cannot will not be states the author. The aspects of MCF are described
Irina V. Abankina
Full Text Available Objective to identify the causes and consequences of the increasing stratification of higher educational institutions by the volumes and sources of financing as well as by the areas of training. Methods during the research we used methods of statistical and economic analysis of the results of the universitiesrsquo activities. Using econometric models the relationships were estimated of the resource base of higher education industrial and economic potential of Russian regions an empirical analysis of factors influencing the increasing public demand for higher education was conducted. Results the trends of structural changes in the demand for higher education in Russia during the period from 2001 to 2014 were described the regional differentiation of financial provision of higher educational institutions in the transition to effective contract work was evaluated. The major risks were identified associated with the structural mismatch of the demand for higher education from families and the offer of admission quotas for the budgetfunded education with increasing regional differentiation which provokes the separation of the Russian universities by the volumes and sources of financial provision with high commitments to increase the salaries of the teaching staff leading to a shortage of funds for maintenance of the property complex and ensuring of the educational process which jeopardizes the quality of educational programsrsquo implementation. Scientific novelty basing on the empirical analysis using econometric models the tendencies are identified of structural changes in the demand for higher education in the Russian regions the impact is assessed of the economic crisis and the payable demand of families on the financial provision of universities risks are identified and justified in the differentiation of Russian universitiesrsquo financing. Practical significance the main provisions and conclusions of the article can be used by experts in the
Schwabe, P.; Mendelsohn, M.; Mormann, F.; Arent, D. J.
Financing renewable energy projects in the United States can be a complex process. Most equity investment in new renewable power production facilities is supported by tax credits and accelerated depreciation benefits, and is constrained by the pool of potential investors that can fully use these tax benefits and are willing to engage in complex financial structures. For debt financing, non-government lending has largely been provided by foreign banks that may be under future lending constraints due to economic and regulatory conditions. To discuss renewable energy financing challenges and to identify new sources of capital to the U.S. market, two roundtable discussions were held with renewable energy and financing experts in April 2012. This report summarizes the key messages of those discussions and is designed to provide insights to the U.S. market and inform the international conversation on renewable energy financing innovations.
Over the last two years, several entities - from banks to credit unions to solar finance companies -have rolled out distributed solar-specific loan programs in the United States. These solar-specific loans are a distinct loan in that the underwriting, loan terms, lender security interest, and other programmatic aspects are designed exclusively for the financing of solar installations. Until recently, loan financing for distributed solar installations was largely through home equity loans, commercial loans, and other standardized loan products available to homeowners and businesses for general expenditures. However, as the U.S. solar market matures, so too are its financing options, and solar-specific loans stand to gain market share. This poster was presented at the Solar Power International conference in Las Vegas, NV in October 2014.
The current state of financing and security issues which in the past have constrained the amount of foreign investment and project financing in the electric power market in the Peoples Republic of China (PRC) are reviewed. Past impediments to foreign investment and financing of power projects revolved around the rate of return on investment, the difficulties of obtaining project approvals, conflict of interest issues wherein the Chinese power bureau could act in its interest as a contracted party rather than for the joint venture as an equity investor, and currency convertibility. Recent developments such as the new security law, the new electricity law, and new project financing regulations represent major improvements, but foreign investment and financing is still much less than originally anticipated, the potential of the PRC power market for foreign investments notwithstanding. (For example, in 1997, 13,500 MW of new generation capacity was added to the Chinese grid system. This increased the total installed capacity to 250,000 MW, making China the second largest installed capacity in the world.) Recent trends in the market and the likely future of foreign investment in the PRC are also discussed, the conclusion being that although the size of the IPP and project finance market in China is probably smaller than originally hoped, a sufficient proportion of new generation capacity has been allocated to foreign investors to ensure a steady stream of investment opportunities
Світлана Миколаївна Клімова
Full Text Available A comprehensive reform of public administration and public finances conducted in Ukraine to implement the Association Agreement between Ukraine and the EU requires a thorough research. Problems related to the functioning of public administration, investigated by V. Averyanov, M. Benio, T.Belozerskaya, S. Vitvitsky, D. Vlasenko, S. Gaiduchenko, N. Hnidyuk, O. Jafarova, A. Zelentsov, T. Karabin, T. Kolomoets. The subject of the study is public administration in the field of public finance. T. Karabin investigated the basic theory of public administration and singled out the following: 1 classical theory; 2 the theory of new public management; 3 the theory of public service. The wording of the "broad" and "narrow" understanding of public administration should be made taking into account that today the public administration in Ukraine in the narrow sense consists of: 1 the bodies of state executive power (the Cabinet of Ministers of Ukraine, central executive authorities, their territorial offices, local state administrations, etc.; 2 specialized public authorities (for example, the Accounting Chamber, the National Bank of Ukraine; 3 subjects of local self-government (village, settlement, city council, village, settlement, city mayor, executive bodies of village, settlement, city council, head of state, rayon and regional councils, representing common interests of territorial communities of villages, settlements, cities; organs of self-organization of the population . In the broad sense, non-state actors (both collective and individual should be included in the circle of subjects of the public administration of Ukraine, which delegates power and administrative powers, which are in continuous interaction with public authorities, performing the functions assigned to them. The complexity of public administration in our country is due to the variability of all elements of the system, the links between them and the environment in which the
Delaney, Jennifer A.; Doyle, William R.
This paper explores the role that state spending on higher education capital outlays plays in state budgets by considering the functional form of the relationship between state spending on higher education capital outlays and four types of state expenditures. Three possible functional forms are tested: a linear model, a quadratic model, and the…
Drame, B. [Brookhaven National Lab. (BNL), Upton, NY (United States); Toler, L. [Brookhaven National Lab. (BNL), Upton, NY (United States); Bachner, Katherine [Brookhaven National Lab. (BNL), Upton, NY (United States)
The single greatest threat to U.S. homeland security remains the proliferation of nuclear weapons, especially among terrorists and other non-state actors who are not governed by the Non-Proliferation Treaty. One of the most important tools for combating terrorism among such rogue actors is counter-financing. Without funding, terrorists cannot acquire, maintain, or deploy nuclear weapons. According to the official report of the 9/11 Commission, counter-financing could have prevented the attacks of September 11, 2001. Unfortunately, no single country can defeat global terrorism. Successful counter-financing requires significant international cooperation. Since 2001, the United States and the European Union, despite vastly different approaches to intelligence gathering, have shared information through the Terrorist Finance Tracking Program (TFTP). That shared information allows authorities to trace suspicious transactions, identify culprits, and map out global terrorist networks. The TFTP successfully thwarted a 2011 plot to assassinate the Saudi Arabian Ambassador to the U.S. and multiple threats during the 2012 Summer Olympics in London; it also aided in the investigation of the 2013 Boston Marathon bombing. That program is necessary but not sufficient. To strengthen our ability to detect and disrupt terrorist plotting and prevent nuclear proliferation, we must expand and coordinate two additional transnational measures: (1) the Society for Worldwide Interbank Financial Telecommunications (SWIFT), a standardized global messaging network for financial institutions to quickly, accurately, and securely send and receive money transfer instructions, and (2) International Bank Account Numbers (IBAN) to identify individual accounts involved in international transactions. Both initiatives were incompletely adopted in the wake of 9/11, but most global banks use one or neither. More fully implementing and coordinating these two systems would allow for coherent information
The International Finance Corporation (IFC), a member of the World Bank Group, is the largest multilateral source of loan and equity financing for private sector projects in the developing world. IFC participates in an investment only when it can make a special contribution that complements the role of market operators. Since its founding 40 years ago, IFC has provided more than $18.8 billion in financing for 1,706 companies in developing countries. Its share capital is provided by its 170 member countries, which collectively determine its policies and activities. Strong shareholder support and a substantial paid-in capital base have allowed IFC to raise funds for its lending activities through its triple-A rated bond issues in international financial markets. (orig.)
Mabid Ali Al-Jarhi
Full Text Available Purpose - This paper aims to provide an economic rationale for Islamic finance. Design/methodology/approach - Its methodology is simple. It starts with listing the contributions to economic analysis relevant to the required rationale in the theories of banking, finance, price, money and macroeconomics, to identify the main rationale for Islamic finance. A concise description of the author’s model for an Islamic economic system, within which Islamic finance can be operational, is provided. Findings - The paper finds distinct advantages of Islamic finance, when properly applied within the author’s model. Islamic finance can therefore be a candidate as a reform agenda for conventional finance. It opens the door for significant monetary reform in currently prevalent economic systems. Research limitations/implications - The first limitation of the paper is that the distinct benefits of Islamic finance are all of macroeconomic types which are external to Islamic banking and finance institutions. They are therefore not expected to motivate such institutions to apply Islamic finance to the letter, without regulators interference to ensure strict application. The second limitation is the necessity to set up enabling institutional and regulatory arrangements for Islamic finance. Originality/value - The results are unique as they challenge the received doctrine and provide non-religious rationale for Islamic finance.
Deason, Jeff [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States). Electricity Markets and Policy Group
Berkeley Lab examines criteria for a comparative assessment of multiple financing programs for energy efficiency, developed through a statewide public process in California. The state legislature directed the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) to develop these criteria. CAEATFA's report to the legislature, an invaluable reference for other jurisdictions considering these topics, discusses the proposed criteria and the rationales behind them in detail. Berkeley Lab's brief focuses on several salient issues that emerged during the criteria development and discussion process. Many of these issues are likely to arise in other states that plan to evaluate the impacts of energy efficiency financing programs, whether for a single program or multiple programs. Issues discussed in the brief include: -The stakeholder process to develop the proposed assessment criteria -Attribution of outcomes - such as energy savings - to financing programs vs. other drivers -Choosing the outcome metric of primary interest: program take-up levels vs. savings -The use of net benefits vs. benefit-cost ratios for cost-effectiveness evaluation -Non-energy factors -Consumer protection factors -Market transformation impacts -Accommodating varying program goals in a multi-program evaluation -Accounting for costs and risks borne by various parties, including taxpayers and utility customers, in cost-effectiveness analysis -How to account for potential synergies among programs in a multi-program evaluation
Christensen, John; Shaxson, Nick; Wigan, Duncan
The Global Financial Crisis placed the utility of financial services in question. The crash, great recession, wealth transfers from public to private, austerity and growing inequality cast doubt on the idea that finance is a boon to the host economy. This article systematizes these doubts......, economic instability, inequality, conflict, rent-seeking and corruption. The Finance Curse produces similar effects, often for similar reasons. Beyond a point, a growing financial sector can do more harm than good. Unlike the Resource Curse, these harms transcend borders. The concept of a Finance Curse...
Lindström, Erik; Madsen, Henrik; Nielsen, Jan Nygaard
Statistics for Finance develops students’ professional skills in statistics with applications in finance. Developed from the authors’ courses at the Technical University of Denmark and Lund University, the text bridges the gap between classical, rigorous treatments of financial mathematics...
This project examines the structure of public infrastructure financing in Indonesia and examines whether financing based on Islamic principles is a feasible alternative to current financing mechanisms...
Mathematical finance explores the consistency relationships between the prices of securities imposed by elementary economic principles. Commonplace among these are replicability and the absence of arbitrage, both essentially algebraic constraints on the valuation map from a security to its price. The discussion is framed in terms of observables, the securities, and states, the linear and positive maps from security to price. Founded on the principles of replicability and the absence of arbitr...
This paper will first explore new EPA regulations and how they are driving demand for environmental facilities. Special attention will be paid to the legal interaction of technology and federal and state policymaking. Attention also will be paid to the barriers to capital formation caused by federal regulation and the legal inadequacy of many infrastructure systems at the state and local level. Next, the paper will consider the implication of various financing techniques in light of these regulatory developments. Particular attention will be paid to existing legal and structural difficulties to the use of each of these three approaches, including tax incentives at the federal level, inability to use pollution control financing mechanisms in states, and the general decline of the availability of industrial revenue bond mechanisms. Finally, the paper will explore alternate credit support techniques that might be used to fill gaps between the regulatory pressures and the possible finance structures. It will examine possible uses of letters of credit, guarantees, forms of equity investment. Other, more difficult credit support devices such as insurance will be given brief consideration. Finally, there will be a brief overview of the liability implication for the various participants (debt inequity) in the financing of these facilities
D' Almeida, Albino Lopes [PETROBRAS, Rio de Janeiro, RJ (Brazil)
Project Finance is often used worldwide to raise the funds to develop big projects, particularly in the area of power and infra-structure. It is designed to support a singular project and a specific purpose company is created to obtain the financing. The debt payment is secured by the enterprise's cash flow, avoiding real guarantee requirements. The lenders receive the future revenues and the property of the assets to be built. The risks are mitigated by agreements exhaustively negotiated among the parties. One of the most important Project Finances performed in Brazil is the Marlim Project, structured in order to complete the development of the Marlim oil field. This is the biggest Brazilian oil field, producing more than 500,000 barrels a day, almost 35% of the national production. This paper presents the general concepts related to this type of financing and general information about the project, including its structuring, negotiation and closing. The total commitment reaches US$ 1.5 billion obtained in both domestic and international markets through equity, bridge loan, bonds and commercial papers. Its whole life is 10 years, using 2 special purpose companies in its configuration. (author)
Ponessa, Joan; Boylan, Ellen
This report on preschool facilities analyzes regulations proposed by the New Jersey Department of Education (NJDOE) to implement the Educational Facilities Construction and Financing Act. (EFCFA). EFCFA, which authorizes and governs New Jersey's public school construction program, was enacted in July 2000 to implement the State Supreme Court's…
Hansen, Kenneth H.; And Others
Ways of rethinking school financial policy issues are examined in this report. This rethinking has evolved from growing recognition of two related principles: school finance as part of public finance; and policy formation as a product of commitments and constraints. Principles of public finance, commitments and constraints are described. Five…
Bogen, J.; Stoelzl, D.
Structure and volume of investment cost for HTR nuclear power plants are different in comparison to other types of nuclear power plants. Even if the share of local participation is in comparable order of magnitude to other nuclear power plants, the required technical infrastructure for HTR plants is more suitable for existing and still practised technologies in countries which are in development processes. These HTR specific features offer special possibilities in HTR project financing. Various models are discussed in respect of the special HTR situation. Even if it is not possible to point out in a general manner the best solution - due to national, local and time dependant situations - this paper discusses the HTR specific impacts to buyer's credit financing, supplier's credit financing, barter trades or joint ventures and combined financing. (author). 4 refs, 9 figs
The paper examines the performance of accounting and finance students entering university via a "widening participation" scheme that seeks to attract students who have been historically under-represented in higher education. Focus is placed on the policy of providing contextual entry offers that recognise that academic qualifications be…
George E. Peterson
Raising capital to finance urban infrastructure is a challenge. One solution is to 'unlock' urban land values - such as by selling public lands to capture the gains in value created by investment in infrastructure projects. Land-based financing techniques are playing an increasingly important role in financing urban infrastructure in developing countries. They complement other capital fina...
NICU MARCU; RALUCA ANTONEAC
Local public finances are an essential component of public finances together with the public finances of the central state administration. Because, besides the right of local representative bodies to decide on issues of local interest, local autonomy implies the right of communities to constitute and manage their own budgets in order to create an accurate and integrated image of the functionality of various systems of territorial administrative organization, we considered opportun...
How to ensure Nigerians have access to Universal Basic Education has often attracted the attention of some States and Federal Government of Nigeria since 1955. Several factors, bordering on supply of teachers, facilities, finance have constrained implementation of well fashioned policies. Demand and supply of teachers ...
For most of the people the prohibition on interest is the well known part of Islamic finance. Indeed, the concept of Islamic finance was not being discussed enough till financial crisis, after crisis it started to be seen as an alternative financial system for conventional finance. Sharing the risks is the main concept of Islamic finance and one of the main differences between conventional and Islamic finance. Depositors/savers do not bear any risk in conventional finance however Islamic fina...
Pablo Villanueva Sánchez
The education decentralization in 1992 modified the negotiation structure of teachers’ salaries between government authorities and the teachers’ unions. In 1998 a federal fund called FAEB was created to help the states finance education. This document explores the effects of the new negotiation structure and the effects of the distribution of FAEB among the states on expenditures on teachers’ salaries. It is found that states with a high percentage of state teachers previous to decentralizati...
Familiarity with ethical concepts is a required competency for new graduates and a component of accreditation for midwifery education programs in the United States. While midwifery educators have acknowledged the importance of ethics education in midwifery programs, little is known about current methods, format, or evaluation of ethics education. A Web-based survey was developed for program directors of accredited midwifery education programs in the United States. Clock hours, formats, venues, content topics, barriers, and evaluation methods were evaluated by descriptive analysis. Fifty-one percent of programs completed the online survey (25/49). Of these, only 7 (28%) offer ethics as a stand-alone class, although all responding programs integrate some ethics education into other core classes. Programs show variation in format, venue, resources, and clock hours dedicated to ethics education. The most frequent barrier to ethics education is an already crowded curriculum (60%), although 32% of programs denied any barriers at all. The majority of programs include the ethical concepts of informed consent, shared decision making, and effective communication in curriculum content. This survey found that there is considerable variation in ethics education in terms of content, format, and evaluation among accredited midwifery education programs in the United States. Midwifery educators have an opportunity to explore the ethical dilemmas unique to maternity care from a midwifery perspective. There is also the opportunity to create a comprehensive and dynamic midwifery ethics curriculum, which incorporates both stand-alone ethics courses and ethics concepts that are woven throughout the core midwifery curriculum. © 2016 by the American College of Nurse-Midwives.
I.P. van Staveren (Irene)
textabstractThe 2008 financial crisis has demonstrated the failure of both utilitarian and deontological ethics in finance. Alternatives do not need to be created from nothing, because the crisis itself has stimulated the emergence of ethically sound finance practices from within the sector. This
... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Unusual contract financing... CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 32.114 Unusual contract financing. Any contract financing arrangement that deviates from this part is unusual contract financing...
Small businesses are the cornerstone of the American economy. Over 22 million small businesses account for approximately 99% of employers, employ about half of the private sector workforce, and are responsible for about two-thirds of net new jobs. Many small businesses fared better than the Fortune 500 in 2001. Non-farm proprietors income rose 2.4% in 2001 while corporate profits declined 7.2%. Yet not all is rosy for small businesses, particularly new ones. One-third close within two years of opening. From 1989 to 1992, almost half closed within four years; only 39.5% were still open after six years. Why do some new businesses thrive and some fail? What helps a new business succeed? Industry knowledge, business and financial planning, and good management. Small geothermal businesses are no different. Low- and medium-temperature geothermal resources exist throughout the western United States, the majority not yet tapped. A recent survey of ten western states identified more than 9,000 thermal wells and springs, over 900 low- to moderate-temperature geothermal resource areas, and hundreds of direct-use sites. Many opportunities exist for geothermal entrepreneurs to develop many of these sites into thriving small businesses. The ''Geothermal Small Business Workbook'' (''Workbook'') was written to give geothermal entrepreneurs, small businesses, and developers the tools they need to understand geothermal applications--both direct use and small-scale power generation--and to write a business and financing plan. The Workbook will: Provide background, market, and regulatory data for direct use and small-scale (< 1 megawatt) power generation geothermal projects; Refer you to several sources of useful information including owners of existing geothermal businesses, trade associations, and other organizations; Break down the complicated and sometimes tedious process of writing a business plan into five easy steps; Lead you
Duncombe, William; Yinger, John
This article makes the case that cost functions are the best available methodology for ensuring consistency between a state's educational accountability system and its education finance system. Because they are based on historical data and well-known statistical methods, cost functions are a particularly flexible and low-cost way to forecast what…
Poole, Wendy; Sen, Vicheth; Fallon, Gerald
Multiple forms of privatization are emerging in the Canadian public sector, including public-private partnerships. This article focuses on one approach to public-private partnerships called "social finance," and a network of public, private, and not-for-profit organizations that promotes social finance as a means of funding public…
ANDREI STANCULESCU; DAN NICOLAE IVANESCU; PETRE BREZEANU
This paper sustains the existence of a biunivocal link between a company’s financing decision and the corporate governance. On the one hand, the financing decision has an impact on corporate performance, which has been confirmed. According to the agency theory, the financing decision will contribute to solving interest conflicts between shareholders and managers. On the other hand, the corporate governance mechanism provides the proper contractual framework for attracting financing resources....
Nurenberg, Jeffry R; Schleifer, Steven J; Kennedy, Cheryl; Walker, Mary O; Mayerhoff, David
State hospitals may be underutilized in medical education. US state psychiatric hospitals were surveyed on current and potential psychiatry medical student education. A 10-item questionnaire, with multiple response formats, was sent to identified hospitals in late 2012. Ninety-seven of 221 hospitals contacted responded. Fifty-three (55%) reported current medical student education programs, including 27 clinical clerkship rotations. Education and training in other disciplines was prevalent in hospitals both with and without medical students. The large majority of responders expressed enthusiasm about medical education. The most frequent reported barrier to new programs was geographic distance from the school. Limited resources were limiting factors for hospitals with and without current programs. Only a minority of US state hospitals may be involved in medical student education. While barriers such as geographic distance may be difficult to overcome, responses suggest opportunities for expanding medical education in the state psychiatric hospitals.
Montez, Jennifer Karas; Zajacova, Anna; Hayward, Mark D
To examine how disparities in adult disability by educational attainment vary across US states. We used the nationally representative data of more than 6 million adults aged 45 to 89 years in the 2010-2014 American Community Survey. We defined disability as difficulty with activities of daily living. We categorized education as low (less than high school), mid (high school or some college), or high (bachelor's or higher). We estimated age-standardized disability prevalence by educational attainment and state. We assessed whether the variation in disability across states occurs primarily among low-educated adults and whether it reflects the socioeconomic resources of low-educated adults and their surrounding contexts. Disparities in disability by education vary markedly across states-from a 20 percentage point disparity in Massachusetts to a 12-point disparity in Wyoming. Disparities vary across states mainly because the prevalence of disability among low-educated adults varies across states. Personal and contextual socioeconomic resources of low-educated adults account for 29% of the variation. Efforts to reduce disparities in disability by education should consider state and local strategies that reduce poverty among low-educated adults and their surrounding contexts.
Full Text Available In the pursuit of understanding the behavior of the market player, the basic argument relays on the supposition that the risk appetite increases exactly at the worst moment - when the capacity to assume additional risk decreases significantly. People view a sample randomly drawn from a population as highly representative and cvasi similar to the population in all its essential characteristics. They expect any two samples drawn from a particular population to be more similar to one another and to the population than is statistically justifiable. This behavior is different from the tenets of classic finance theory. The gap between from theory to the practice of Behavioral Finance (BiFi- nickname has direct application to the investment management practice. Students of Behavioral Finance can develop skills to be employed in their practices for their clients. Behavioral Finance can teach about mental, emotional, psychological and social biases that lead to mistakes and biases o market efficiency, pricing anomalies and other market dynamics and risk – return investment outcomes.
Lyudmila Aleksandrovna Kormishkina
Full Text Available In modern conditions the provision of investment process financing is the most important task of state economic policy aimed at achieving sustainable growth and dynamic development of the Russian economy in general. This problem solution requires further theoretical consideration and development of appropriate methodological, methodical and practical recommendations. Financing of investment activity development should be based on the systemic approach, which considers this process as an element of the financial support system of the state innovation development. It is necessary to conduct research in order to expand the financial component of this support, encourage the investment process development, enhance financial relations in the sphere of forming and using the intellectual property objects and develop a complex of measures to study the innovations implementation possibilities. Although economic science pays a lot of attention to various aspects of the issue, there is currently no research work, devoted to the study of sources of the investment process financing. Development of methodical and practical recommendations to establish the system of its financing, taking into account modern world economic trends is required. The authors have revealed the enterprises’ general economic profit while promoting sustainable economic growth by means of provision of financial resources for it. The closeness of the relationship is calculated on the basis of regression models that characterize the sectoral distribution of gross profit. The correlation-regression analysis has helped to assess the influence of the main sources of the RF fixed assets on the investment index. The economic nature of the sources determines its value and dynamics
Keating, Joseph P.
In preparation for the 1987 demise of the current community college funding mechanism in California, this discussion paper reviews the current fiscal situation in the state and considers the needs that should be addressed in the finance mechanism that would become effective in July 1987. Background information is presented on the history of the…
This report was prepared to help small firm search for financing for geothermal energy projects. There are various financial and economics formulas. Costs of some small overseas geothermal power projects are shown. There is much discussion of possible sources of financing, especially for overseas projects. (DJE-2005)
Full Text Available In the article theoretical questions of formation sources of financing investments are considered, the analysis of investment activities is carried out by the sources of funding for gas utility. The purpose of this article is to identify priority sources of financing investment activities of gas distribution enterprises. The methodology of research. To achieve this goal the author used methods of theoretical generalization; statistical and financial methods in the study of dynamics and structure of investment; tabular methods to display the structure of the main sources of financing of the investment program of gas distribution enterprises; consistency and comparison, to determine the relationship between the main components of investment sources of financing. As a result of research by critical retrospective analysis to determine the structure of sources of financing investment activities of gas distribution enterprises. It is established that the main sources of financing the investment program are the tariffs for transportation and supply of gas, says the national Commission, carrying out state regulation in the areas of energy and utilities (NCREU. It is filed the structure of the main financing sources of the investment program of gas distribution enterprises. It is proved that the level of funding depends on the size of NCREU rates and gas consumption. Scientific novelty of the article is lack in domestic and foreign areas of research priority selection of sources financing of the investment program for gas distribution enterprises. The practical significance is that the theoretical concepts, practical results and conclusions of articles that reveal the essence of the problem of investment sources of financing, can be used in the activity of gas distribution enterprises taking into account the current state of development of the economy. Keywords: investment resources, financing
Full Text Available This paper presents some modalities and financing forces for business, getting out in the first place the entrepreneur ingenuity for finding these sources of financing necessary for the business success. Also get some contributions and proposals regarding the criteria’s of which the entrepreneur must be take care in choosing the financial sources, for preparing the finance pack and presenting the financing demands, which good documented, not only grows up the chances of one financing but also can lead to fix some relations on long time with financing source.
Methods of market entry and the financing of new technologies were discussed from the perspective of Clipper Windpower, a wind energy company based in the northeastern United States and Canada. Many new technology companies only consider private equity when seeking financing for new product development. However, financing for projects and products is only the first step to market entry. Wind projects are the financial equivalent of a high yield bond with mechanical risk. Many wind power projects with company equity can also be seen as a long term bond with upside in any given year. It is therefore important for wind developers to seek out strategic buyers for both product development and project development, in addition to finding sources of private equity. Clipper Windpower Inc. has developed a partnership with British Petroleum (BP), who hold an equity interest in the company. Both companies are now partnering on projects with Clipper turbines, and firm orders are in place for 2007 and 2008. As a result of the partnership, Clipper now has increased its financial strength in cash flows, balance sheets, and projected revenue. It was concluded that a successful partnership can increase the scale of wind power development, and bring financial sophistication to smaller companies with limited resources. refs., tabs., figs
This policy brief describes how the Consortium for Policy Research in Education (CPRE) has approached the objectives of educational equity and adequacy over the past decade and a half, and reveals how their current finance research has begun to explicitly link the level and use of resources with strategies that districts and schools can deploy to…
Arts Education Partnership, 2014
It has been said that while history shapes the hand a state is dealt, public policy determines how the hand is played. State policy for K-12 education--and, by extension, for arts education--is shaped through the actions of various state governmental entities--governors, legislatures, courts, and commissioners and boards of education--in response…
João M. Pinto
Project finance is the process of financing a specific economic unit that the sponsors create, in which creditors share much of the venture’s business risk and funding is obtained strictly for the project itself. Project finance creates value by reducing the costs of funding, maintaining the sponsors financial flexibility, increasing the leverage ratios, avoiding contamination risk, reducing corporate taxes, improving risk management, and reducing the costs associated with market ...
William R. Kerr; Ramana Nanda
Financing constraints are one of the biggest concerns impacting potential entrepreneurs around the world. Given the important role that entrepreneurship is believed to play in the process of economic growth, alleviating financing constraints for would-be entrepreneurs is also an important goal for policymakers worldwide. We review two major streams of research examining the relevance of financing constraints for entrepreneurship. We then introduce a framework that provides a unified perspecti...
Richard K. Green; Susan M. Wachter
While other countries dismantled their segmented housing finance systems and linked housing finance to capital markets through deregulated depositories, the US linked housing finance to capital markets through depository deregulation and securitization. Elsewhere securitization has not developed. The US provided the underpinnings for its mortgage security infrastructure with the creation of FNMA in 1938 and in order to create liquidity in the mortgage market required the standardization of mo...
Jones, E.; Eto, J.
Renewable energy technologies are capital intensive. Successful public policies for promoting renewable energy must address the significant resources needed to finance them. Public policies to support financing for renewable energy technologies must pay special attention to interactions with federal, state, and local taxes. These interactions are important because they can dramatically increase or decrease the effectiveness of a policy, and they determine the total cost of a policy to society as a whole. This report describes a comparative analysis of the cost of public policies to support financing for two end-use solar technologies: residential solar domestic hot water heating (SDHW) and residential rooftop photovoltaic (PV) systems. The analysis focuses on the cost of the technologies under five different ownership and financing scenarios. Four scenarios involve leasing the technologies to homeowners in return for a payment that is determined by the financing requirements of each form of ownership. For each scenario, the authors examine nine public policies that might be used to lower the cost of these technologies: investment tax credits (federal and state), production tax credits (federal and state), production incentives, low-interest loans, grants (taxable and two types of nontaxable), direct customer payments, property and sales tax reductions, and accelerated depreciation
Full Text Available Universities have an important role in the state because through them, it shall function in higher education. The old Romanian academic educational system foundation has been strengthened and modernized by adopting the National Education Law 1/2011, on which occasion universities have experienced a consistent reform with changes especially in financial issues. However, the percentage of gross domestic product allocation for education shows a downward trend. Moreover, despite the fact that the National Education Law provides for the allocation of at least 6% of gross domestic product to finance national education, these assumptions have not been observed so far, because in recent years the percentages were allocated around 3% of gross domestic product. In the external context of chronic underfunding extremely unfavorable for the Romanian academic education, this paper aims to identify current trends in the field, through an applied research carried out on the University of Craiova. University of Craiova stands out as the most prestigious institution of academic education in Oltenia, who is conducting a voluminous and complex activity about ensuring quality standards and efficiency in the educational process The current investigation is the extension of a research initiative launched in 2013, through the paper entitled "The Current Status of Financing Public Higher Education Institutions in Romania - The Case of the University of Craiova" and brings further developments on the topic, aiming to highlight the evolution of the funding structure of the University of Craiova in the range 2011-2013, based on the latest information disseminated through the financial statements and the annual reports on the status of the institution. In this paper we try to bring more research in this area by diagnosing the current state, providing answers to questions such as: How does the financing structure of the University of Craiova stands? How did the University of
Tobler, Philippe N; Fletcher, Paul C; Bullmore, Edward T; Schultz, Wolfram
A basic tenet of microeconomics suggests that the subjective value of financial gains decreases with increasing assets of individuals ("marginal utility"). Using concepts from learning theory and microeconomics, we assessed the capacity of financial rewards to elicit behavioral and neuronal changes during reward-predictive learning in participants with different financial backgrounds. Behavioral learning speed during both acquisition and extinction correlated negatively with the assets of the participants, irrespective of education and age. Correspondingly, response changes in midbrain and striatum measured with functional magnetic resonance imaging were slower during both acquisition and extinction with increasing assets and income of the participants. By contrast, asymptotic magnitudes of behavioral and neuronal responses after learning were unrelated to personal finances. The inverse relationship of behavioral and neuronal learning speed with personal finances is compatible with the general concept of decreasing marginal utility with increasing wealth.
Happ, Roland; Förster, Manuel; Rüspeler, Ann-Katrin; Rothweiler, Jasmin
In recent years, the financial education of young adults has gained importance in Germany; however, very few valid test instruments to assess the knowledge and understanding of personal finance are suitable for use in Germany. In this article, we describe results of a survey in which experts in Germany in areas related to personal finance judged…
... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Termination financing. 32... CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 32.109 Termination financing. To encourage contractors to invest their own funds in performance despite the susceptibility of...
Buchanan, H S
Continuous quality improvement (CQI), often implemented as part of an integrated management system called total quality management (TQM), has been institutionalized within many manufacturing, military and service organizations in the USA as a response to declining market share, low productivity and customer complaints about poor quality. Signs and symptoms suggest that higher education has similar problems which are systematic and relate to the quality ot higher education, financing, facilities, curriculum and graduates. In the 1990S, the quality movement has begun to spread to the field of education as a means of diagnosing and treating the problems widely recognized as residing in US educational institutions, especially in colleges and universities. Many business leaders and authors believe that 'quality is the most important strategic issue facing top management in the 1990s'. This belief arises partly due to the fact that managers are beginning to understand the relationship between healthy, high quality organizations and healthy profits. This article traces the recent US quality movement from its roots in manufacturing and the military, its adoption by service institutions, and its more recent application by higher education institutions.
Anzhela Zakhitovna Namitulina
Full Text Available Subject article is relevant because It is devoted to description of sources of financing of defense enterprises and peculiarities of selection of sources of financing enterprises of the military-industrial complex. In the first part of the article provides an overview of the financial resources and types of funding organizations and enterprises. Description of modern methods of creating a climate for innovation, supporting innovative ideas, and domestic entrepreneurship. The second part of the article describes the direction, the form of financing for companies, taking into account the peculiarities of the development and operation of defense enterprises. The first phase of the study was to identify the main sources of financing for companies in difficult socio-economic conditions of the potential customer of defense products. The second phase of the study was to determine the ranking factors the use of different sources of funding and its impact on the development of enterprises. The presented research topic is particularly relevant in connection with an increase in the role of sources of financing development of the industry for the growth of innovation activity of enterprises. The urgency of acquiring those aspects of economic relations that with the financing of new projects enterprises of the defense-industrial complex, the financing of the state defense order. In today's economic environment has the need to address financial security of the defense-industrial complex, to attract new sources of funding, development of bank lending in the defense sector and the participation of banks in the financing of projects of the enterprises of the military-industrial complex. The processes of market transformation of enterprises of the military-industrial complex (MIC have acquired a special significance in relation to defining the role of these enterprises in the country and providing security to the complexity of their adaptation to market
Obiyathulla Ismath Bacha
Full Text Available Financial crises have become a recurring problem for modern economies with increasingly detrimental fallouts. Risk-sharing finance (RSF contracts may be the best instrument for addressing the problem and its fallout, and in particular the risk-sharing principles of Islamic finance offer a potential alternative. This paper offers some preliminary thoughts on the design and implementation of RSF for both private and public sector funding, for revenue and non-revenue generating projects. It is argued that such form of financing avoids the leverage of conventional debt, minimizes the costs of dilution, reduces macroeconomic vulnerability, and enhances financial inclusion. It also has the potential to be a less risky alternative for developing countries to finance public spending and economic growth. JEL Classifications: G32, P43, O16
Full Text Available Small and medium enterprises (SMEs have a key role in developing national economies, but are often limited by lack of development support in financing business for reasons of information asymmetry, high risks, lack of collateral, unfavorable regulatory environment. The statistics show managers given constant importance of SMEs financing opportunities, bank credit pre-eminence over other forms of financing, the lack of viable alternatives for start-up and innovative companies, etc. Market concentration, alternative between transactional or relational lending, various types of banks; state owned, private owned, foreign, large or small, are analyzed to identify the availability for SME financing. Finally, it is recognized the importance of a diversified banking markets both in terms of supply, lending technologies, but also as bank institutions itself.
Sheng, Andrew; Singh, Ajit
From its humble beginnings in the 1990s, Islamic finance has become a trillion US dollar industry. The market consensus is that Islamic finance has a bright future due to favourable demographics and rising incomes in the Muslim community. Moreover, despite voices sceptical of an accommodation between Islamic and global finance, leading global banks are buying Islamic bonds and forming subsidiaries specially to conduct Islamic finance business. Special laws have been passed in non-Muslim fi...
William R. Kerr; Ramana Nanda
We review the recent literature on the financing of innovation, inclusive of large companies and new startups. This research strand has been very active over the past five years, generating important new findings, questioning some long-held beliefs, and creating its own puzzles. Our review outlines the growing body of work that documents a role for debt financing related to innovation. We highlight the new literature on learning and experimentation across multi-stage innovation projects and h...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false United States national. 515.334 Section 515.334 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) OFFICE... of the United States, and which has its principal place of business in the United States. [61 FR...
Fejerskov, Adam Moe; Funder, Mikkel; Engberg-Pedersen, Lars
. But what are in fact the interests and modes of operation of such actors in the context of development financing, and to what extent do they align with the aims of the SDGs? And how do national governments of developing countries themselves perceive and approach these new sources of financing?...
... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Finance Board oversight. 985.4 Section 985.4 Banks and Banking FEDERAL HOUSING FINANCE BOARD OFFICE OF FINANCE THE OFFICE OF FINANCE § 985.4 Finance Board oversight. (a) Oversight and enforcement actions. The Finance Board shall have the same regulatory oversight authority and enforcement powers...
Cornman, Stephen Q.; Young, Jumaane; Herrell, Kenneth C.
The Common Core of Data (CCD) is an annual collection of public elementary and secondary education data by the National Center for Education Statistics (NCES) in the Institute of Education Sciences of the U.S. Department of Education. The U.S. Census Bureau conducts the data collection for the finance surveys on behalf of NCES. State education…
Zhang, Yu; Mizunoya, Suguru; You, You; Tsang, Mun
This is a study of financial disparities in primary and secondary education in OECD countries that have a relatively large population and a school finance system with decentralized features. These countries include the United States, Britain, Australia, Spain, Canada, and Japan. There are two major research questions: What are the trends in…
Erkan Poyraz; Yusuf Tepeli
The prominent concept of venture capital is examined as a financing model to the financing of entrepreneurship according to related literature. Venture capital is used with success in developed countries for a long time. Venture capital is a modern financing model that allows entrepreneurs to perform dynamic, creative, and innovative investment ideas as well as management, marketing and business support without requesting financial strength from those entrepreneurs. However, venture capital h...
Alfieri Li Ojeda, Jaime
The natural speed of the contemporary world demands large investment projects which require specialized financial techniques such as Project Finance, defined as a fund to finance investment projects of great magnitude. Every Project Finance involves a wide range of elements such as promoters, government, contractors andsuppliers, among others, that will ensure project success. La rapidez del mundo contemporáneo exige que los grandes proyectos de inversión requieran de técnicas financieras ...
... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Contract financing. 12.210... financing. Customary market practice for some commercial items may include buyer contract financing. The contracting officer may offer Government financing in accordance with the policies and procedures in part 32. ...
Gomes, Joao F; Yaron, Amir; Zhang, Lu
We incorporate costly external finance in a production based asset pricing model and investigate whether financing frictions are quantitatively important for pricing a cross-section of expected returns. We show that the common assumptions about the nature of the financing frictions are captured by a simple ‘financing cost’ function, equal to the product of the financing premium and the amount of external finance. This approach provides a tractable framework to examine the role of financing fr...
This paper studies how bidders' choice of financing for cash bids affects takeover prices. Endogenizing this choice shows that takeover premia are lower than when bidders are not cash-constrained for equity-like financing, but higher for debt financing. Intuitively, unlike debt (which leads to
... financing. 32.113 Section 32.113 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 32.113 Customary contract financing. The solicitation must specify the customary contract financing offerors may...
City School District Reorganization: An Annotated Bibliography. Centralization and Decentralization in the Government of Metropolitan Areas with Special Emphasis on the Organization, Administration, and Financing of Large-City School Systems. Educational Research Series No. 1.
Rideout, E. Brock; Najat, Sandra
As a guide to educational administrators working in large cities, abstracts of 161 books, pamphlets, papers, and journal articles published between 1924 and 1966 are classified into five categories: (1) Centralization versus decentralization, (2) local government, (3) metropolitan organization, (4) the financing of education, and (5) the…
Full Text Available The main objective of this paper is to evaluate the sustainability of public finance in Romania and to explore the fiscal threats Romania might face in the future. A sound fiscal policy implies avoiding excessive liabilities of the government, but at the same time delivering the proper public goods and services, including the necessary safety net in times of crisis. An unsustainable fiscal position negatively impacts on macroeconomic stability; moreover, if public finances are perceived to be unsustainable in the long run, the reaction of the international financial markets could generate a fiscal crisis, which might surprise the fiscal planners. The main findings of the paper are the following: i according to the multidimensional approach of the European Commission, in the short run, it seems that Romania is free from fiscal stress, there is a low risk in the medium term, and in the long run the risk becomes medium; ii a potential medium-term fiscal sustainability risk derives from the accumulation of losses and arrears in the business and companies sectors in which the state is a majority shareholder; iii Romania records one of the lowest budget revenues to GDP ratios in EU, while the Romanian tax system is characterized by a poor tax collection, inefficient administration and excessive bureaucracy; iv the structure of public spending in Romania is characterized by the predominance of wage spending and social assistance, while the poor state of the public pension system is an important vulnerability of the public finance position; v overall, the degree of tax compliance in Romania was only 55.8% in 2013, and according to the calculations made by the Fiscal Council, tax evasion represented 16.2% of GDP in 2013. All these aspects make up a grim picture of sustainability of public finances, which has to be considered by the public decision makers regarding future fiscal policy actions.
The intent of the author of the present paper is to demonstrate, in a practical manner, the role of the past experience and the new approaches of the nuclear projects financing, especially as nuclear generation financing in developing countries involves complex issues that need to be fully understood and dealt with by all the parties involved, namely: high investment costs, generally long construction periods, a high degree of uncertainty with respect to costs and schedule and to public acceptance, particularly because of safety, waste disposal and non-proliferation issues. Moreover, as many associations whose activities consist of ensuring and facilitating at different levels the exchange of knowledge between generations, i.e.: European Nuclear Society (ENS) Young Generation, North American Young Generation in Nuclear (NA-YGN), the goal of the paper is also to outline the importance of the education in nuclear field, i.e. training a young team of specialists to be ready to take over the movement and responsibility in continuing the further development of nuclear program in Romania, mainly with view to the Financing Arrangements for Nuclear Power Projects. The first part of the paper is referring to general financing procedures, while the second part is focusing on a case study related to the: past experience the financing scheme of Cernavoda NPP Unit 1, present or actual experience ongoing financing issues for Cernavoda NPP Unit 2 and potential future shared contribution to the financing of the next Cernavoda NPP units.(author)
... 7 Agriculture 15 2010-01-01 2010-01-01 false Construction financing. 3560.71 Section 3560.71... Construction financing. (a) Construction financing plan. Prior to loan approval, applicants must submit to the Agency for its concurrence a plan for the construction financing and securing of the loan. (b) Interim...
This paper suggests an alternate approach to corporate finance in an interest free economy by looking beyond practiced Islamic finance and suggesting alternatives for corporate finance in sourcing funds i.e. i) Ijara with embedded options, ii) limited liability partnership, iii) equity modes like Musharakah and Mudarabah iv) income bonds and v) convertible income bonds. It also suggests alternatives for corporate finance in using funds i.e. i) Islamic income funds, ii) Islamic REITs, iii) Tre...
Ribeiro Filho, Valfredo de Assis; Ramos, Maria Olivia de Souza [Universidade Salvador (UNIFACS), BA (Brazil)
The aim of this paper is to discuss the modality of project finance of financing of enterprises, which is the main modality of structuring of hydroelectric projects in Brazil. In the discussion will be highlighted the importance of contracts EPC (Engineering, Search and Construction) in the structuring of project finances. This financing model has particular characteristics related to risk sharing and financial flexibility that enable the financing of projects with long-term capital, however, due to participation of various actors and the nature of the structure of project finance, the negotiation and drafting of contracts are always very complex.
... financing. 32.104 Section 32.104 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 32.104 Providing contract financing. (a) Prudent contract financing can be a useful working tool in Government...
... financing. 432.113 Section 432.113 Federal Acquisition Regulations System DEPARTMENT OF AGRICULTURE GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 432.113 Customary contract financing. The contracting officer may determine the necessity for customary contract financing. The...
Clausen, C C; Bauer, M; Saleh, A; Picker, O
The provision of financial support of hospitals by States for buying capital goods is becoming increasingly more limited. In order to still make investments, alternative forms of financing such as leasing must be considered in hospitals. However, the change from the classical form of dual financing and the decision to opt for a leasing model involves much more than just a question of costs. Leasing results in easily manageable expenditure, flexibility and adaptability for the choice of model but the leasing installments must be directly financed by the turnover from diagnosis-related groups and so lead to a reduction in the annual profit. In this article the authors try to give the reader an overview of the complex and sometimes counter-productive effect of financial instruments for investments in hospitals using leasing financing as an example. In the follow-up article the decision-making procedure using dynamic investment calculations will be demonstrated using a concrete example.
Geske, Terry G.; Hoke, Gordon A.
States within certain regions (like the Great Lakes area) are probably incapable of financing any major educational reform. The declining Illinois public school system exemplifies this predicament. However, change in the form of a more efficient organization of Illinois school districts is both feasible and likely. (RDN)
Arnold, Marc; Hackbarth, Dirk; Puhan, Tatjana-Xenia
This paper analyzes the decision of firms to sell assets to fund investments (financing asset sales). For a sample of U.S. manufacturing firms during the 1971-2010 period, we document new stylized facts about financing asset sales that cannot be explained by traditional motives for selling assets, such as financial distress or financing constraints. Using a structural model of financing, investment, and macroeconomic risk, we show that financing asset sales attenuate the debt overhang problem...
This paper discusses various ways of financing infrastructure under public private partnership (PPP) arrangements in Africa. The paper presents the standard literature on the relationship between infrastructure investment and economic growth, highlighting the contradictory findings in the literature. Stylised facts about the state of infrastructure in Africa, compared with other regions such as Asia and Latin America, are also presented. Examples of how PPPs structures work are discussed incl...
Full Text Available The paper highlights the problems faced by the SMEs in accessing adequate financing as one of the most significant barriers of the sector. Financial access is critical for SMEs’ growth and development. At the same time, the author emphasize that there is no unique way of financing SMEs. The need depends on the stage of maturity and size of the enterprise. In order to facilitate the SME access to finance it is necessary to adapt the best international practices and to adapt them at the local condition. Article aims to present microfinancing as a tool that could improve the SME access to finance, thus contributing to the economic development of the country by creating new jobs, new products and services
Gerdtham, U G; Sundberg, G
This paper investigates the redistributive effects of the Swedish health care financing system in 1980 and 1990 for four different financial sources: county council taxes, payroll taxes, direct payments and state grants. The redistributive effects are decomposed into vertical, horizontal and 'reranking' segments for each of the four financial sources. The data used are based on probability samples of the Swedish population, from the Level of Living Survey (LNU) from 1981 and 1991. The paper concludes that the Swedish health care financing system is weakly progressive, although direct payments are regressive. There is some horizontal inequity and 'reranking', which mainly comes from the county council taxes, since those tax rates vary for each county council. The implication is that, to some extent, people with equal incomes are treated unequally.
... Basic Policies § 1735.17 Facilities financed. (a) RUS makes hardship and guaranteed loans to finance the... section. (b) RUS makes concurrent RUS cost-of-money and RTB loans to finance the improvement, expansion... type of loan to finance the following items: (1) Station apparatus (including PBX and key systems) not...
Danil M. Matveev
Full Text Available Poor efficiency in the use of land, labor, finance and other resources available is characteristic of Russia’s agriculture at the present stage. In most subindustries, the country has not yet achieved the production volume of the early 90s. In the last decade there was a positive trend marked to update logistics and intensify innovative advance in the agriculture, the processes being actively supported by the state, but this did not result in appreciable improvements of the agriculture competitiveness in the global food market. During the study it is revealed that the industry credit debt has gone up three-fold over the past 7 years that made up 1.43trillion rubles versus 112 billion rubles of revenue in 2012. The authors propose a technique to attract private investments in the agriculture of Russia and economic-organizing mechanism to realize it. Hereto, a considerable part is played by state regulation, particularly to provide investment-back guarantees in the event that a project-implementing agricultural organization goes bankrupt. To hold up, the authors consider a number of investment projects implemented by one of the Russian Federation entities which demonstrate their effectiveness both for the investors and the state. Employing the data obtained from the study will allow to largely increase the rates of technical and technological re-equipment of the industry, improve its investment attractiveness and competitiveness based on innovations and this will provide the country's food safety and gross domestic product growth.
Various aspects of the problems of financing a multinational regional fuel cycle centre (RFCC) are briefly discussed. Some of the points covered are: financing by participants; floating long-term loans on capital markets outside the countries of the participants; and export credits for the purchase of equipment manufactured outside the countries of the participants
... council on vocational education? 403.17 Section 403.17 Education Regulations of the Offices of the... Responsibilities? § 403.17 What are the State's responsibilities regarding a State council on vocational education... shall establish a State council on vocational education. The State council must be appointed— (1) By the...
... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Unusual contract financing... CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 432.114 Unusual contract financing. The HCA is authorized to approve unusual contract financing. The signed determination and finding...
... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Unusual contract financing... CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 1332.114 Unusual contract financing. The designee authorized to approve unusual contract financing arrangements is set forth in CAM...
... 7 Agriculture 11 2010-01-01 2010-01-01 false Interim financing. 1735.75 Section 1735.75... Involving Loan Funds § 1735.75 Interim financing. (a) A borrower may submit a written request for RUS approval of interim financing if it is necessary to close an acquisition before the loan to finance the...
Full Text Available Construction projects do not require a large capital outlay but a large working capital to start up the project. Unfortunately, for small contractors there are very limited options available from the banks or other lending institutions to cover this large working capital requirement in the absence of sufficient collateral. The “Project Finance” method presented in this paper is recommended as the most effective method for small contractors in the United States. The problems of small and start up contractors in funding their projects have been little addressed in the literature. The current financing practices were observed through both the literature review and interviews with contractors and bankers in the western Michigan area and subsequently a system has been proposed which could help a small start-up company seeking higher growth. The growth rates that can be achieved using the project finance system in contrast to the traditional “line of credit” arrangements as illustrated in this paper show that the project finance model is beneficial.
... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Prohibited financing. 120.476... Business Lending Companies (sblc) § 120.476 Prohibited financing. An SBLC may not make a loan to a small business that has received financing (or a commitment for financing) from an SBIC that is an Associate of...
Bobby Yulandika Putra
Full Text Available Objective – Poverty is one of the most fundamental issues that still surround the life of 29.89 million people of Indonesia (National Statistical Bureau data from January 2, 2012. During this time, the pattern of poverty alleviation programs undertaken by the government is a pattern of generosity. This pattern can directly exacerbate the poor morals and behavior. Ideally, poverty alleviation efforts are made by concrete steps, which empower poor `communities themselves.In line with the theme of this research, one of the financial institutions (non-Banks who cares and has the spirit to empower people to overcome poverty is Mitra Bisnis Keluarga (MBK. This study aimed to assess the financial risks and operational risks of implementation of Grameen Bank financing concept in MBK.Methods - The method used in this research is literature review and qualitative descriptive study using actual MBK data.Results - Results from this research showed that products with the concept of Grameen Bank financing is relatively safe in the terms of the financing risk, but requires more attention on operational risk and which can be implemented for large-scale poverty alleviation program.Conclusion - The data showed that the risk of financing given to the poor (without collateral is minimal and MBK actual data shows that the Operational self-sufficiency is relatively high at> 90% Keywords : MBK, Grameen Bank, Poverty
Goldsmith, D.; Chew W.; Moulton, C.
Continuing growth of project financing for non-utility generators in the US and abroad has led to growing focus on their credit strength. In general, the financings remain relatively risky and would likely be rated below investment grade, because of various factors: loose power purchase arrangements, poor match between power pricing and fuel costs, aggressive leverage, troubled operating performance. But S and P believes some projects have the credit strength to support investment grade ratings. As traditional financing markets for these projects --- bank lending and private placements with highly specialized institutional investors --- have contracted, project sponsors and developers are considering broader markets. These include institutional investors without specialized focus on power project finance. In these markets, distinctions among projects may lead to greater liquidity and efficiency in developing the pricing and terms under which projects can be financed. This paper reports that ratings are most appropriate for projects seeking permanent financing as they enter commercial operations. They also may be useful for projects which have been operating for some time and for some very strong projects which are raising construction financing. To guide both project developers and investors in project financing, S and P has developed the following approach for rating these types of financings