Economic evaluation of health losses from air pollution in Beijing, China.

Science.gov (United States)

Zhao, Xiaoli; Yu, Xueying; Wang, Ying; Fan, Chunyang

2016-06-01

Aggravated air pollution in Beijing, China has caused serious health concern. This paper comprehensively evaluates the health losses from illness and premature death caused by air pollution in monetary terms. We use the concentration of PM10 as an indicator of the pollution since it constitutes the primary pollutant in Beijing. By our estimation, air pollution in Beijing caused a health loss equivalent to Ұ583.02 million or 0.03 % of its GDP. Most of the losses took the form of depreciation in human capital that resulted from premature death. The losses from premature deaths were most salient for people of either old or young ages, with the former group suffering from the highest mortality rates and the latter group the highest per capital losses of human capitals from premature death. Policies that target on PM10 emission reduction, urban vegetation expansion, and protection of vulnerable groups are all proposed as possible solutions to air pollution risks in Beijing.

The capital-asset pricing model reconsidered: tests in real terms on ...

African Journals Online (AJOL)

This paper extends previous work of the authors to reconsider the capital-asset pricing model (CAPM) in South Africa in real terms. As in that work, the main question this study aimed to answer remains: Can the CAPM be accepted in the South African market for the purposes of the stochastic modelling of investment returns ...

Capital Flight and Economic Performance

OpenAIRE

Beja, Edsel Jr.

2007-01-01

Capital flight aggravates resource constraints and contributes to undermine long-term economic growth. Counterfactual calculations on the Philippines suggest that capital flight contributed to lower the quality of long-term economic growth. Sustained capital flight over three decades means that capital flight had a role for the Philippines to lose the opportunities to achieve economic takeoff. Unless decisive policy actions are taken up to address enduring capital flight and manage the macroe...

The human capital crisis in orthodontics.

Science.gov (United States)

Ackerman, Marc Bernard

2012-01-01

The economics of dental practice are changing. The author reflects on the loss of a long-term, highly effective, and dedicated assistant in an orthodontic practice. Changes in technology, numbers of dentists, expected benefit levels, and a competitive workplace environment are combining to put pressures on the traditional model of oral health care. Whatever the solution turns out to be, the profession should take the lead in actively developing alternatives, and these will necessarily involve development of human capital in the dental practice.

Mobile dental operations: capital budgeting and long-term viability.

Science.gov (United States)

Arevalo, Oscar; Chattopadhyay, Amit; Lester, Harold; Skelton, Judy

2010-01-01

The University of Kentucky College of Dentistry (UKCD) runs a large mobile dental operation. Economic conditions dictate that as the mobile units age it will be harder to find donors willing or able to provide the financial resources for asset replacement. In order to maintain current levels of access for the underserved, consideration of replacement is paramount. A financial analysis for a new mobile unit was conducted to determine self-sustainability, return on investment (ROI), and feasibility of generating a cash reserve for its replacement in 12 years. Information on clinical income, operational and replacement costs, and capital costs was collected. A capital budgeting analysis (CBA) was conducted using the Net Present Value (NPV) methodology in four different scenarios. Depreciation funding was calculated by transferring funds from cash inflows and reinvested to offset depreciation at fixed compound interest. A positive ROI was obtained for two scenarios. He depreciation fund did not generate a cash reserve sufficient to replace the mobile unit. Mobile dental programs can play a vital role in providing access to care to underserved populations and ensuring their mission requires long-term planning. Careful financial viability and CBA based on sound assumptions are excellent decision-making tools.

Social capital and post-disaster mental health

Directory of Open Access Journals (Sweden)

Tim R. Wind

2011-06-01

Full Text Available Background : Despite national and international policies to develop social capital in disaster-affected communities, empiric evidence on the association between social capital and disaster mental health is limited and ambiguous. Objective : The study explores the relationship between social capital and disaster mental health outcomes (PTSD, anxiety, and depression in combination with individual factors (appraisal, coping behavior, and social support. Design : This is a community-based cross-sectional study in a flood-affected town in northern England. The study is part of the MICRODIS multi-country research project that examines the impact of natural disasters. It included 232 flood-affected respondents. Results : The findings showed that a considerable part of the association between cognitive and structural social capital and mental health is exerted through individual appraisal processes (i.e. property loss, primary and secondary appraisal, social support, and coping behavior. These individual factors were contingent on social capital. After the inclusion of individual characteristics, cognitive social capital was negatively related to lower mental health problems and structural social capital was positively associated to experiencing anxiety but not to PTSD or depression. Depression and anxiety showed a different pattern of association with both components of social capital. Conclusions : Individual oriented stress reducing interventions that use appraisal processes, social support, and coping as starting points could be more effective by taking into account the subjective experience of the social context in terms of trust and feelings of mutual support and reciprocity in a community. Findings indicate that affected people may especially benefit from a combination of individual stress reducing interventions and psychosocial interventions that foster cognitive social capital.

Regulatory capital requirements and bail in mechanisms

NARCIS (Netherlands)

Joosen, B.P.M.; Haentjens, M.; Wessels, B.

2015-01-01

With the introduction of the Capital Requirements Regulation (CRR) in the European Union, the qualitative requirements for bank regulatory capital have changed. These changes aim at implementing in Europe the Basel III principles for better bank capital that is able to absorb losses of banks,

Rethinking the economics of capital mobility and capital controls

Directory of Open Access Journals (Sweden)

Thomas I. Palley

2009-09-01

Full Text Available This paper reexamines the issue of international financial capital mobility, which is today's economic orthodoxy. Discussion is often framed in terms of the impossible trinity. That framing distorts discussion by representing capital mobility as having equal significance with sovereign monetary policy and control over exchange rates. It also distorts discussion by ignoring possibilities for coordinated monetary policy and exchange rates, and for managed capital flows. The case for capital mobility rests on neo-classical economic efficiency arguments and neo-liberal political arguments. The case against capital mobility is based on Keynesian macroeconomic inefficiency arguments, neo-Walrasian market failure arguments, and neo-Marxian arguments regarding distortion of the social structure of accumulation. Close examination shows the case for capital mobility to be extremely flimsy, pointing to the ideological dimension behind today's policy orthodoxy.

Implementing a Capital Plan.

Science.gov (United States)

Daigneau, William A.

2003-01-01

Addresses four questions regarding implementation of a long-term capital plan to manage a college's facilities portfolio: When should the projects be implemented? How should the capital improvements be implemented? What will it actually cost in terms of project costs as well as operating costs? Who will implement the plan? (EV)

Social Capital in Rural Denmark

DEFF Research Database (Denmark)

Svendsen, G.L.; Svendsen, Gert Tinggaard

1999-01-01

What are the roots of social capital and how can it be measured and built? Social capital is considered as a new production factor which must be added to the conventional concepts of human and physical capital. Social capital is productive because it increases the level of trust in a society...... and allows more transactions to take place without third-party enforcement. Theory and lessons from empirical evidence lead to the general recommendation that any loss in social capital must be deducted from the economic gain following market forces. For example, the voluntary organization of small......-sized groups in the Danish Cooperative Dairy Movement was eliminated due to economies of scale. It may be so that an alternative way of production, taking social capital into account, could have increased economic growth further....

Understanding operational risk capital approximations: First and second orders

Directory of Open Access Journals (Sweden)

Gareth W. Peters

2013-07-01

Full Text Available We set the context for capital approximation within the framework of the Basel II / III regulatory capital accords. This is particularly topical as the Basel III accord is shortly due to take effect. In this regard, we provide a summary of the role of capital adequacy in the new accord, highlighting along the way the significant loss events that have been attributed to the Operational Risk class that was introduced in the Basel II and III accords. Then we provide a semi-tutorial discussion on the modelling aspects of capital estimation under a Loss Distributional Approach (LDA. Our emphasis is to focuss on the important loss processes with regard to those that contribute most to capital, the so called “high consequence, low frequency" loss processes. This leads us to provide a tutorial overview of heavy tailed loss process modelling in OpRisk under Basel III, with discussion on the implications of such tail assumptions for the severity model in an LDA structure. This provides practitioners with a clear understanding of the features that they may wish to consider when developing OpRisk severity models in practice. From this discussion on heavy tailed severity models, we then develop an understanding of the impact such models have on the right tail asymptotics of the compound loss process and we provide detailed presentation of what are known as first and second order tail approximations for the resulting heavy tailed loss process. From this we develop a tutorial on three key families of risk measures and their equivalent second order asymptotic approximations: Value-at-Risk (Basel III industry standard; Expected Shortfall (ES and the Spectral Risk Measure. These then form the capital approximations. We then provide a few example case studies to illustrate the accuracy of these asymptotic captial approximations, the rate of the convergence of the assymptotic result as a function of the LDA frequency and severity model parameters, the sensitivity

Modelling the Frequency of Operational Risk Losses under the Basel II Capital Accord: A Comparative study of Poisson and Negative Binomial Distributions

OpenAIRE

Silver, Toni O.

2013-01-01

2013 dissertation for MSc in Finance and Risk Management. Selected by academic staff as a good example of a masters level dissertation. \\ud \\ud This study investigated the two major methods of modelling the frequency of\\ud operational losses under the BCBS Accord of 1998 known as Basel II Capital\\ud Accord. It compared the Poisson method of modelling the frequency of\\ud losses to that of the Negative Binomial. The frequency of operational losses\\ud was investigated using a cross section of se...

Capital Flight from Russia

OpenAIRE

Prakash Loungani; Paolo Mauro

2000-01-01

This paper documents the scale of capital flight from Russia, compares it with that observed in other countries, and reviews policy options. The evidence from other countries suggests that capital flight can be reversed once reforms take hold. The paper argues that capital flight from Russia can only be curbed through a medium-term reform strategy aimed at improving governance and macroeconomic performance, and strengthening the banking system. Capital controls result in costly distortions an...

26 CFR 1.988-4 - Source of gain or loss realized on a section 988 transaction.

Science.gov (United States)

2010-04-01

... rate at least 10 percentage points higher than the Federal mid-term rate (as determined under section....988-5 and this section, the source of exchange gain or loss shall be determined by reference to the... characterize exchange gain or loss as capital gain or loss. This section takes precedence over section 865. (b...

Piketty’s Capital

DEFF Research Database (Denmark)

Larsen, Øjvind

2016-01-01

Piketty’s Capital in Twenty-First Century has posed a totally new platform for the discussion of the economy and capitalism. Piketty has reinvented the classical political economy founded by Adam Smith in his 1776 Wealth of Nations. Piketty has shown via massive historical research how growth...... and inequality have developed since 1793. Piketty’s conclusion is that the French Revolution did not change the existing inequality either in the medium or in the long term. Piketty’s prediction is that a new form of global capitalism will arise, patrimonial capitalism, in which inequality will develop further...

Financial capital and intellectual capital in physician practice management.

Science.gov (United States)

Robinson, J C

1998-01-01

Medical groups need financial resources yet most retain no earnings and have no reserves. Physician practice management (PPM) companies have recognized the need for investment and the scarcity of indigenous capital in the physician sector and are rushing to fill the void. Resources are being contributed by venture capitalists, bond underwriters, private investors, pharmaceutical manufacturers, health plans, hospital systems, and public equity markets. The potential contribution of PPM firms is to nurture the intellectual capital of leading physician organizations and diffuse it throughout the health care system. The risk is that short-term financial imperatives will impede necessary long-term investments.

Contributions to the discussion on the determinants of long-term human capital development in today's developing regions

OpenAIRE

Prayon, Valeria

2013-01-01

This thesis makes use of the phenomenon of age-heaping as a proxy for basic numerical skills and assesses the long-term human capital development in today’s developing regions, mainly for the time period from 1880 to 1960. Although the age-heaping methodology is still quite new in the field of economic history capturing only a very basic aspect of human capital, many recent studies have demonstrated its usefulness as a proxy for basic numerical skills. This thesis contributes to this strand o...

26 CFR 1.1502-21 - Net operating losses.

Science.gov (United States)

2010-04-01

..., gain, deduction, and loss, including the member's losses and deductions actually absorbed by the group... income, gain, deduction, and loss. For this purpose— (A) Consolidated taxable income is computed without... the group has no Year 2 capital gain, it cannot absorb any capital losses in Year 2. T's Year 1 net...

THE IMPACT OF THE FOREIGN CAPITAL BANKS ON ENSURING FINANCIAL STABILITY ON LONG TERM

Directory of Open Access Journals (Sweden)

Isac\tBORS

2015-06-01

Full Text Available The present study is focusing on analysing the role played by the foreign banks within the national and international banking system as well the impact the foreign banks have on the autochthon banking system, on the financial activity, on the real economy and on the financial stability on long terms. The research conducted highlights the fact that along the positive impact on the banking system and on the economy of the host country, generated by their quality as vectors of mobilizing and directioning the international financial flows towards the host country, there can also be considered a negative impact. The study shows that the impact of the negative effects, that have as main cause the reversibility of the international financial flows, depends, on a great extent, on the specific conditions of the host country, on the characteristics of the foreign banks, but mostly, by the share held by the foreign countries within the framework of the host banking system. Starting from the role played by the capitalization of the banking system to ensure financial stability, the research made on Romania’s case shows both, the positive effects generated by the presence of the foreign banks and also, their vulnerability in front of this excessive dependence on the foreign capital induced by this presence. The solution to reduce this dependence can only come from the autochthon capital direction whose mobilization may countervail the gap made by the foreign banks and, by surceasing the process of financial disintermediation, to ensure the maintenance of the financial stability on long term.

Arthroscopic Partial Capitate Resection for Type Ia Avascular Necrosis: A Short-Term Outcome Analysis.

Science.gov (United States)

Shimizu, Takamasa; Omokawa, Shohei; del Piñal, Francisco; Shigematsu, Koji; Moritomo, Hisao; Tanaka, Yasuhito

2015-12-01

To examine short-term clinical results of arthroscopic partial resection for type Ia avascular necrosis of the capitate. Patients who underwent arthroscopic treatment for type 1a avascular necrosis of the capitate with at least 1-year follow-up were identified through a retrospective chart review. The necrotic capitate head was arthroscopically resected with removal of the lunate facet and preservation of the scaphoid and hamate facets. Wrist range of motion, grip strength, and radiographic parameters--carpal height ratio, radioscaphoid angle, and radiolunate angle-were determined before surgery and at the latest follow-up. Patients completed a visual analog scale for pain; Disabilities of the Arm, Shoulder, and Hand measure; and the Patient-Rated Wrist Evaluation score before surgery and at the latest follow-up. Five patients (1 male, 4 females) with a mean age of 34 years (range, 16-49 years) and a mean follow-up duration of 20 months (range, 12-36 months) were identified during the chart review. All were type Ia (Milliez classification). Arthroscopy revealed fibrillation or softening with cartilage detachment at the lunate facet of the capitate head and an intact articular surface at the scaphoid and hamate facet. At the latest follow-up, the mean wrist flexion-extension was 123° (vs 81° before surgery) and grip strength was 74% (vs 37% before surgery). The visual analog scale score for pain; the Disabilities of the Arm, Shoulder, and Hand score; and the Patient-Rated Wrist Evaluation score before surgery showed a significant improvement following treatment. Radiographic parameters did not significantly change at the final follow-up, although the proximal carpal row trended toward flexion. Arthroscopic partial resection of the capitate head was an acceptable treatment for type Ia avascular necrosis of the capitate. It provided adequate pain relief and improved the range of wrist motion and grip strength during short-term follow-up. Therapeutic IV. Copyright �

Short-term memory loss associated with rosuvastatin.

Science.gov (United States)

Galatti, Laura; Polimeni, Giovanni; Salvo, Francesco; Romani, Marcello; Sessa, Aurelio; Spina, Edoardo

2006-08-01

Memory loss and cognitive impairment have been reported in the literature in association with several 3-hydroxy-3-methylglutaryl coenzyme A reductase inhibitors (statins), but we found no published case reports associated with rosuvastatin. To our knowledge, this is the first reported case of rosuvastatin-related short-term memory loss. A 53-year-old Caucasian man with hypercholesterolemia experienced memory loss after being treated with rosuvastatin 10 mg/day. He had no other concomitant conditions or drug therapies. After discontinuation of rosuvastatin, the neuropsychiatric adverse reaction resolved gradually, suggesting a probable drug association. During the following year, the patient remained free from neuropsychiatric disturbances. Clinicians should be aware of possible adverse cognitive reactions during statin therapy, including rosuvastatin.

MNE SPECIFIC FACTORS OF CORPORATE CAPITAL STRUCTURE: COMPARATIVE ANALYSIS IN TERMS OF FINANCIAL RESOURCES DEMAND AND SUPPLY

Directory of Open Access Journals (Sweden)

Sergiy Tsyganov

2015-11-01

Full Text Available This paper investigates corporate capital structure of multinational enterprises. Its core subject is focused on corporate capital structure defining factors that are specific for MNE rather than for domestic corporations. Substantial part of scientific literature concentrates on country specific and firm specific factors of corporate capital structure with most research devoted to domestic corporations. The main goal of our paper is to discover among plenty of corporate capital structure factors those that are specific for MNE and to develop a new approach for analyzing these factors in terms of financial resources demand and supply. There are some corporate capital structure factors that influence directly and some that have indirect influence while there is also another set of factors having both direct and indirect influence on indebtedness. Different theoretical and empirical research confirm different directions. Methodology of our study is based on analysis of two fundamental market driving forces that are demand and supply. Their influence on corporate capital structure is of a primary origin and that is why the suggested approach is to our mind theoretically significant and practically important. Demand factors imply that a corporation creates demand for financial resources and its capital structure is defined internally. Supply factors imply an external capital structure since it is created by external investors’ supply of financial resources. On empirical level, we use the primary data of corporate financial statements to analyze the leverage of MNE based in different countries and representing different industries. The key results of our study show that the main MNE specific factors of capital structure include such demand factors as multinationality level, assets tangibility and political risk. The first two are firm specific factors that can influence corporate capital structure either directly or indirectly according to

National Accounting with Natural and Other Types of Capital

International Nuclear Information System (INIS)

Hartwick, J.M.

2001-01-01

We do double-entry national accounting and incorporate zero profit arbitrage conditions (Euler equations) for different types of capital, including natural capital. In non-balanced growth, capital gains terms for capital goods appear in the income side of the accounts. Depreciation terms appear on the product or expenditure side. We consider renewable natural capital as well as non-renewable of both durable and non-durable types. 14 refs

Reducing the cost of health care capital.

Science.gov (United States)

Silberman, R

1984-08-01

Although one may ask four financial experts their opinion on the future of the hospital capital market and receive five answers, the blatant need for financial strategic planning is evident. Clearly, the hospital or system with sound financial management will be better positioned to gain and/or maintain an edge in the competitive environment of the health care sector. The trends of the future include hospitals attempting to: Maximize the efficiency of invested capital. Use the expertise of Board members. Use alternative capital sources. Maximize rate of return on investments. Increase productivity. Adjust to changes in reimbursements. Restructure to use optimal financing for capital needs, i.e., using short-term to build up debt capacity if long-term financing is needed in the future. Take advantage of arbitrage (obtain capital and reinvest it until the funds are needed). Delay actual underwriting until funds are to be used. Better management of accounts receivable and accounts payable to avoid short-term financing for cash flow shortfalls. Use for-profit subsidiaries to obtain venture capital by issuing stock. Use product line management. Use leasing to obtain balance sheet advantages. These trends indicate a need for hospital executives to possess a thorough understanding of the capital formation process. In essence, the bottom line is that the short-term viability and long-term survival of a health care organization will greatly depend on the financial expertise of its decision-makers.

The global historical and future economic loss and cost of earthquakes during the production of adaptive worldwide economic fragility functions

Science.gov (United States)

Daniell, James; Wenzel, Friedemann

2014-05-01

Over the past decade, the production of economic indices behind the CATDAT Damaging Earthquakes Database has allowed for the conversion of historical earthquake economic loss and cost events into today's terms using long-term spatio-temporal series of consumer price index (CPI), construction costs, wage indices, and GDP from 1900-2013. As part of the doctoral thesis of Daniell (2014), databases and GIS layers for a country and sub-country level have been produced for population, GDP per capita, net and gross capital stock (depreciated and non-depreciated) using studies, census information and the perpetual inventory method. In addition, a detailed study has been undertaken to collect and reproduce as many historical isoseismal maps, macroseismic intensity results and reproductions of earthquakes as possible out of the 7208 damaging events in the CATDAT database from 1900 onwards. a) The isoseismal database and population bounds from 3000+ collected damaging events were compared with the output parameters of GDP and net and gross capital stock per intensity bound and administrative unit, creating a spatial join for analysis. b) The historical costs were divided into shaking/direct ground motion effects, and secondary effects costs. The shaking costs were further divided into gross capital stock related and GDP related costs for each administrative unit, intensity bound couplet. c) Costs were then estimated based on the optimisation of the function in terms of costs vs. gross capital stock and costs vs. GDP via the regression of the function. Losses were estimated based on net capital stock, looking at the infrastructure age and value at the time of the event. This dataset was then used to develop an economic exposure for each historical earthquake in comparison with the loss recorded in the CATDAT Damaging Earthquakes Database. The production of economic fragility functions for each country was possible using a temporal regression based on the parameters of

Social capital in engineering education

Science.gov (United States)

Brown, Shane

A theoretical argument is presented to suggest that engineering curriculum be designed to develop social capital. Additionally, the value of social capital in the retention of students in the College of Engineering, and the development, role, and value of social capital in an electrical engineering laboratory is evaluated. Data collected includes participant observations, informal and formal student interviews, and a researcher-designed survey. Social capital consists of interaction among individuals (networks), social rules that encourage interactions such as trust and reciprocity (norms), and the value of these networks and norms to the individual and the group. A large body of evidence suggests that social capital is valuable in terms of retention and multiple measures of academic achievement. The importance of social capital in retention was verified by students that have left engineering and those that remain, in terms of interactions with peers, teaching assistants, and engineering faculty; and a lack of sense of community in freshman engineering courses. Students that have left engineering differed in their perceptions of social capital from those that remain in their frustrations with teaching methods that encourage little discussion or opportunities to ask questions about assumptions or approaches. The open-ended nature of laboratory assignments, extensive required troubleshooting, and lack of specific directions from the teaching assistants were found to encourage the development of social capital in the laboratory setting. Degree centrality, a network measure of social capital as the number of ties an individual has within a social network, was found to be positively correlated with laboratory grade. Student perceptions of the importance of interactions with other students on success in the laboratory setting has a negative model effect on academic achievement in the laboratory. In contrast, student perceptions of the quality of interactions with

Capital Requirements and Banks' Leniency

DEFF Research Database (Denmark)

Dietrich, J. Kimball; Wihlborg, Clas

2003-01-01

We investigate the effect of changes in capital regulation on the strictness(leniency) of loan terms using a simple model of bank capital requirements andasset quality examinations. Banks offer different levels of `leniency' in the senseof willingness to offer automatic extensions of loans...... rates. As capital requirements increase thedifference between initial capital levels and between interest rates of strict andlenient banks decrease. Thus, higher capital requirements in recessions tend toreduce the interest rate premium paid for leniency. If a recession is interpreted asan increase...... in the required return, the interest rate premium paid for leniency isincreased in recession at a given level of required capital....

Productivity Losses Associated with Head and Neck Cancer Using the Human Capital and Friction Cost Approaches.

Science.gov (United States)

Pearce, Alison M; Hanly, Paul; Timmons, Aileen; Walsh, Paul M; O'Neill, Ciaran; O'Sullivan, Eleanor; Gooberman-Hill, Rachael; Thomas, Audrey Alforque; Gallagher, Pamela; Sharp, Linda

2015-08-01

Previous studies suggest that productivity losses associated with head and neck cancer (HNC) are higher than in other cancers. These studies have only assessed a single aspect of productivity loss, such as temporary absenteeism or premature mortality, and have only used the Human Capital Approach (HCA). The Friction Cost Approach (FCA) is increasingly recommended, although has not previously been used to assess lost production from HNC. The aim of this study was to estimate the lost productivity associated with HNC due to different types of absenteeism and premature mortality, using both the HCA and FCA. Survey data on employment status were collected from 251 HNC survivors in Ireland and combined with population-level survival estimates and national wage data. The cost of temporary and permanent time off work, reduced working hours and premature mortality using both the HCA and FCA were calculated. Estimated total productivity losses per employed person of working age were EUR253,800 using HCA and EUR6800 using FCA. The main driver of HCA costs was premature mortality (38% of total) while for FCA it was temporary time off (73% of total). The productivity losses associated with head and neck cancer are substantial, and return to work assistance could form an important part of rehabilitation. Use of both the HCA and FCA approaches allowed different drivers of productivity losses to be identified, due to the different assumptions of the two methods. For future estimates of productivity losses, the use of both approaches may be pragmatic.

Workplace social capital and risk of long-term sickness absence. Are associations modified by occupational grade?

DEFF Research Database (Denmark)

Rugulies, Reiner; Hasle, Peter; Hyld Pejtersen, Jan

2016-01-01

Background: Workplace social capital (WSC) is an emerging topic among both work environment professionals and researchers. We examined (i) whether high WSC protected against risk of long-term sickness absence (LTSA) in a random sample of the Danish workforce during a 1-year follow-up and (ii...

26 CFR 1.1247-3 - Treatment of capital gains.

Science.gov (United States)

2010-04-01

... portion of the excess capital gains were designated. The amount so includible by the partnership shall be... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Treatment of capital gains. 1.1247-3 Section 1... (CONTINUED) INCOME TAXES Special Rules for Determining Capital Gains and Losses § 1.1247-3 Treatment of...

Capital Adequacy in Banks: Reflections on Selected Banks in ...

African Journals Online (AJOL)

In principle, bank capital serves two functions. First, it represents the value of shareholder's equity, and secondly, it is the value of the buffer stock available to absorb unexpected losses. Because of this second function, it is argued that a bank's capital must be adequate. Adequate capital is the foundation of any banking ...

CAPITAL FLOWS AND THEIR SECTORAL DESTINATIONS

Directory of Open Access Journals (Sweden)

Petris Sorina

2012-07-01

Full Text Available Since 2003, New European Union Member States have made large capital inflows, which led to a credit crunch and recession. Whether they are foreign direct investment, or banking flows, capital inflows ultimately affect GDP, depending on how they are invested. In the specialty literature, analysis of capital flows was done especially in terms of their structure, with a lack of analysis in terms of final destination of capital inflows. Therefore, we analyzed the effect of capital inflows on GDP in the New Member States of the European Union (Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania and Slovakia over the last economic cycle. Based on experiences of the new Member States during the recent boom and crisis, the paper studies the impact of capital inflows on GDP growth, inflows channeled to economic sectors, such as real estate and corporate investment sector. The results of this research tries to highlight the extent to which the final destination of capital flows is important for the evolution of GDP.

Disaster Impacts on Human Capital Accumulation Shown in the Typhoon Haiyan Case

Science.gov (United States)

Özceylan Aubrecht, Dilek; Aubrecht, Christoph

2014-05-01

School children and their school environment are increasingly exposed to all kinds of hazards. Many disaster events have shown the extent of disaster impacts on the education sector which this study also highlights in the Typhoon Haiyan Case. Disasters do not only cause loss of lives or damage to educational facilities, they also entail significant economic and social consequences on human capital development in the short and long-run. While the trend of short term disaster impact can easily be analyzed in rapid post disaster assessments taking destroyed assets as proxy, usually analyses of medium and long-term effects of disasters include large inherent uncertainties and are of less tangible nature, require more time and complex methods and can often not give comprehensive results. The consequences of disasters especially in developing countries are therefore to a certain extent often left unknown. Generally, economic and social effects of disasters on human capital seem to be ambiguous and to some degree these effects are related to economic, social and institutional well-being. Thus, clear understanding is crucial to interpret its complex effects on human capital accumulation. This essential nature of medium and long-term effects has not been reflected in many analyses. Focus has mostly been given on the extent of physical damage, displacements, lives and assets lost instead of targeting resilience of social and economic characteristics of communities in terms of preventing human capital accumulation disruption. Main objective of this study is to provide a conceptual framework illustrating the impacts of disasters on schooling which might help in assessing such effects, as one of the fundamental components of human capital accumulation (Ozceylan Aubrecht, 2013). The dimensions of human capital building and its relationship to disasters under the light of past disaster events are discussed with a special focus on the recent Typhoon Haiyan that struck the

Does workplace social capital protect against long-term sickness absence? Linking workplace aggregated social capital to sickness absence registry data

DEFF Research Database (Denmark)

Hansen, Anne Sophie K.; Madsen, Ida E.H.; Thorsen, Sannie Vester

2018-01-01

Aims: Most previous prospective studies have examined workplace social capital as a resource of the individual. However, literature suggests that social capital is a collective good. In the present study we examined whether a high level of workplace aggregated social capital (WASC) predicts a dec...

The Contribution of Intellectual Capital to Value Creation

Directory of Open Access Journals (Sweden)

Elena Shakina

2013-12-01

Full Text Available This paper studies the marginal contribution of intellectual capital (IC components to company value using a hedonic pricing framework. The ANOVA is used to identify group differences among different national markets and industries. Two models have been developed to reflect the time effect: one related to the immediate creation of value and another for the long term. As could be expected, the contribution of IC to companies’ value creation differs significantly between countries and industries. Both models, short- and long-term, are significant and with a normal explanatory power. We have found both positive and negative coefficients. Human capital plays a critical positive role in value creation in the short term. Structural and relational capital becomes more relevant in the long term. However, in the long term, the results obtained regarding the effect of human capital are unclear.

Implementing the countercyclical capital buffer in South Africa: Practical considerations

OpenAIRE

Pravin Burra; Pieter Juriaan de Jongh; Helgard Raubenheimer; Gary van Vuuren; Henco Wiid

2015-01-01

The Basel II regulatory framework significantly increased the resilience of the banking system, but proved ineffective in preventing the 2008/9 financial crisis. The subsequent introduction of Basel III aimed, inter alia, to supplement bank capital using buffers. The countercyclical buffer boosts existing minimum capital requirements when systemic risk surges are detected. Bolstering capital in favourable economic conditions cushions losses in unfavourable conditions, thereby addressing capit...

INTELLECTUAL CAPITAL: A CRITICAL APPROACH ON DEFINITIONS AND CATEGORIZATION

Directory of Open Access Journals (Sweden)

Diana GIOACASI

2014-12-01

Full Text Available Intellectual capital has become the leading resource for creating economic value and there are an important number of publications focused on this area of research. In spite of the interest for this area of research, the existence of different terms regarding intellectual capital makes the process of definition and classification difficult. The purpose of this study is to analyze the concepts related to intellectual capital by establishing the connections and correlations between the terms in order to make the term of intellectual capital fully understandable and also to explain how the components of intellectual capital can be structured. The analysis of intellectual capital definitions is significant because it is a first step in intangible factors understanding, having implications on the company pattern of knowledge evaluation. Of all the terms analyzed, intangible assets allows a clear definition of its meaning, its components and thus provides insight into ways of assessing the knowledge of an entity.

RBMK-1500 accident management for loss of long-term core cooling

International Nuclear Information System (INIS)

Uspuras, E.; Kaliatka, A.

2001-01-01

Results of the Level 1 probabilistic safety assessment of the Ignalina NPP has shown that in topography of the risk, transients dominate above the accidents with LOCAs and failure of the core long-term cooling are the main factors to frequency of the core damage. Previous analyses have shown, that after initial event, as a rule, the reactivity control, as well as short-term and intermediate cooling are provided. However, the acceptance criteria of the long-term cooling are not always carried out. It means that from this point of view the most dangerous accident scenarios are the scenarios related to loss of the core long-term cooling. On the other hand, the transition to the core condition due to loss of the long-term cooling specifies potential opportunities for the management of the accident consequences. Hence, accident management for the mitigation of the accident consequences should be considered and developed. The most likely initiating event, which probably leads to the loss of long term cooling accident, is station blackout. The station blackout is the loss of normal electrical power supply for local needs with an additional failure on start-up of all diesel generators. In the case of loss of electrical power supply MCPs, the circulating pumps of the service water system and MFWPs are switched-off. At the same time, TCV of both turbines are closed. Failure of diesel generators leads to the non-operability of the ECCS long-term cooling subsystem. It means the impossibility to feed MCC by water. The analysis of the station blackout for Ignalina NPP was performed using RELAP5 code. (author)

42 CFR 412.302 - Introduction to capital costs.

Science.gov (United States)

2010-10-01

... 42 Public Health 2 2010-10-01 2010-10-01 false Introduction to capital costs. 412.302 Section 412... Inpatient Hospital Capital Costs General Provisions § 412.302 Introduction to capital costs. (a) New capital... revision of the debt instrument. (iii) If short-term financing was used to acquire old capital assets and...

HUMAN CAPITAL FLIGHT - ROMANIA’S CASE

Directory of Open Access Journals (Sweden)

Magdalena VELCIU

2016-12-01

Full Text Available Knowledge, qualifications of workforce and human capital became key factors for progress. Human capital flight transfers not only people but work, knowledge, tangible and intangible capital and development potential. In this article, trying to answer whether Romania is a source country for emigration of highly skilled or well-educated individuals (ie human capital flight I flew over those two dimensions that have traditionally characterized human capital flight namely: shrinking work resource and lossing high educated peoples. Therefore, Romania was faced with decreasing the number of resident population due to the evolution of demographic phenomena with negative projections and declining number of working age population and young educated and highly skilled workers and professionals. This will generate complex problems for economy, labour market, difficulty in finding highly skilled workers, talent shortages etc so it’s critical to monitor the labour migration or brain drain phenomenon.

Tile drainage phosphorus loss with long-term consistent cropping systems and fertilization.

Science.gov (United States)

Zhang, T Q; Tan, C S; Zheng, Z M; Drury, C F

2015-03-01

Phosphorus (P) loss in tile drainage water may vary with agricultural practices, and the impacts are often hard to detect with short-term studies. We evaluated the effects of long-term (≥43 yr) cropping systems (continuous corn [CC], corn-oats-alfalfa-alfalfa rotation [CR], and continuous grass [CS]) and fertilization (fertilization [F] vs. no-fertilization [NF]) on P loss in tile drainage water from a clay loam soil over a 4-yr period. Compared with NF, long-term fertilization increased concentrations and losses of dissolved reactive P (DRP), dissolved unreactive P (DURP), and total P (TP) in tile drainage water, with the increments following the order: CS > CR > CC. Dissolved P (dissolved reactive P [DRP] and dissolved unreactive P [DURP]) was the dominant P form in drainage outflow, accounting for 72% of TP loss under F-CS, whereas particulate P (PP) was the major form of TP loss under F-CC (72%), F-CR (62%), NF-CS (66%), NF-CC (74%), and NF-CR (72%). Dissolved unreactive P played nearly equal roles as DRP in P losses in tile drainage water. Stepwise regression analysis showed that the concentration of P (DRP, DURP, and PP) in tile drainage flow, rather than event flow volume, was the most important factor contributing to P loss in tile drainage water, although event flow volume was more important in PP loss than in dissolved P loss. Continuous grass significantly increased P loss by increasing P concentration and flow volume of tile drainage water, especially under the fertilization treatment. Long-term grasslands may become a significant P source in tile-drained systems when they receive regular P addition. Copyright © by the American Society of Agronomy, Crop Science Society of America, and Soil Science Society of America, Inc.

Social capital, economics, and health: new evidence.

Science.gov (United States)

Scheffler, Richard M; Brown, Timothy T

2008-10-01

In introducing this Special Issue on Social Capital and Health, this article tracks the popularization of the term and sheds light on the controversy surrounding the term and its definitions. It sets out four mechanisms that link social capital with health: making information available to community members, impacting social norms, enhancing the health care services and their accessibility in a community, and offering psychosocial support networks. Approaches to the measurement of social capital include the Social Capital Community Benchmark Survey (SCCBS) developed by Robert Putnam, and the Petris Social Capital Index (PSCI), which looks at community voluntary organizations using public data available for the entire United States. The article defines community social capital (CSC) as the extent and density of trust, cooperation, and associational links and activity within a given population. Four articles on CSC are introduced in two categories: those that address behaviors -- particularly utilization of health services and use of tobacco, alcohol, and drugs; and those that look at links between social capital and physical or mental health. Policy implications include: funding and/or tax subsidies that would support the creation of social capital; laws and regulations; and generation of enthusiasm among communities and leaders to develop social capital. The next steps in the research programme are to continue testing the mechanisms; to look for natural experiments; and to find better public policies to foster social capital.

Predicting successful long-term weight loss from short-term weight-loss outcomes: new insights from a dynamic energy balance model (the POUNDS Lost study).

Science.gov (United States)

Thomas, Diana M; Ivanescu, Andrada E; Martin, Corby K; Heymsfield, Steven B; Marshall, Kaitlyn; Bodrato, Victoria E; Williamson, Donald A; Anton, Stephen D; Sacks, Frank M; Ryan, Donna; Bray, George A

2015-03-01

Currently, early weight-loss predictions of long-term weight-loss success rely on fixed percent-weight-loss thresholds. The objective was to develop thresholds during the first 3 mo of intervention that include the influence of age, sex, baseline weight, percent weight loss, and deviations from expected weight to predict whether a participant is likely to lose 5% or more body weight by year 1. Data consisting of month 1, 2, 3, and 12 treatment weights were obtained from the 2-y Preventing Obesity Using Novel Dietary Strategies (POUNDS Lost) intervention. Logistic regression models that included covariates of age, height, sex, baseline weight, target energy intake, percent weight loss, and deviation of actual weight from expected were developed for months 1, 2, and 3 that predicted the probability of losing model. The AUC statistic quantified the ROC curve's capacity to classify participants likely to lose models yielding the highest AUC were retained as optimal. For comparison with current practice, ROC curves relying solely on percent weight loss were also calculated. Optimal models for months 1, 2, and 3 yielded ROC curves with AUCs of 0.68 (95% CI: 0.63, 0.74), 0.75 (95% CI: 0.71, 0.81), and 0.79 (95% CI: 0.74, 0.84), respectively. Percent weight loss alone was not better at identifying true positives than random chance (AUC ≤0.50). The newly derived models provide a personalized prediction of long-term success from early weight-loss variables. The predictions improve on existing fixed percent-weight-loss thresholds. Future research is needed to explore model application for informing treatment approaches during early intervention. © 2015 American Society for Nutrition.

Economic Analysis of Social Common Capital

Science.gov (United States)

Uzawa, Hirofumi

2005-06-01

Social common capital provides members of society with those services and institutional arrangements that are crucial in maintaining human and cultural life. The term æsocial common capital' is comprised of three categories: natural capital, social infrastructure, and institutional capital. Natural capital consists of all natural environment and natural resources including the earth's atmosphere. Social infrastructure consists of roads, bridges, public transportation systems, electricity, and other public utilities. Institutional capital includes hospitals, educational institutions, judicial and police systems, public administrative services, financial and monetary institutions, and cultural capital. This book attempts to modify and extend the theoretical premises of orthodox economic theory to make them broad enough to analyze the economic implications of social common capital. It further aims to find the institutional arrangements and policy measures that will bring about the optimal state of affairs.

Investigation of long-term prestress losses in pretensioned high performance concrete girders.

Science.gov (United States)

2005-01-01

Effective determination of long-term prestress losses is important in the design of prestressed concrete bridges. Over-predicting prestress losses results in an overly conservative design for service load stresses, and under-predicting prestress loss...

Capital Unchained

DEFF Research Database (Denmark)

Bryan, Dick; Rafferty, Michael; Wigan, Duncan

2017-01-01

on measuring (by accountants), managing (by corporations) and monitoring (by International Political Economy scholars and regulators), this article explores the longer term implications of accumulation of internationalised capital in intangible and abstract forms, and the prominent role of finance and offshore...

Empirical Analysis of the Impact of Capital Market on Economic ...

African Journals Online (AJOL)

The Nigerian capital market had not been performing effectively in terms of providing long term capital needed by firms to finance capital projects. This cast doubts on its ability to meaningfully enhance the growth of the economy against the apriori expectations amidst different reforms that were introduced by the government ...

Payment mechanism and GP self-selection: capitation versus fee for service.

Science.gov (United States)

Allard, Marie; Jelovac, Izabela; Léger, Pierre-Thomas

2014-06-01

This paper analyzes the consequences of allowing gatekeeping general practitioners (GPs) to select their payment mechanism. We model GPs' behavior under the most common payment schemes (capitation and fee for service) and when GPs can select one among them. Our analysis considers GP heterogeneity in terms of both ability and concern for their patients' health. We show that when the costs of wasteful referrals to costly specialized care are relatively high, fee for service payments are optimal to maximize the expected patients' health net of treatment costs. Conversely, when the losses associated with failed referrals of severely ill patients are relatively high, we show that either GPs' self-selection of a payment form or capitation is optimal. Last, we extend our analysis to endogenous effort and to competition among GPs. In both cases, we show that self-selection is never optimal.

Long-term carbon loss in fragmented Neotropical forests.

Science.gov (United States)

Pütz, Sandro; Groeneveld, Jürgen; Henle, Klaus; Knogge, Christoph; Martensen, Alexandre Camargo; Metz, Markus; Metzger, Jean Paul; Ribeiro, Milton Cezar; de Paula, Mateus Dantas; Huth, Andreas

2014-10-07

Tropical forests play an important role in the global carbon cycle, as they store a large amount of carbon (C). Tropical forest deforestation has been identified as a major source of CO2 emissions, though biomass loss due to fragmentation--the creation of additional forest edges--has been largely overlooked as an additional CO2 source. Here, through the combination of remote sensing and knowledge on ecological processes, we present long-term carbon loss estimates due to fragmentation of Neotropical forests: within 10 years the Brazilian Atlantic Forest has lost 69 (±14) Tg C, and the Amazon 599 (±120) Tg C due to fragmentation alone. For all tropical forests, we estimate emissions up to 0.2 Pg C y(-1) or 9 to 24% of the annual global C loss due to deforestation. In conclusion, tropical forest fragmentation increases carbon loss and should be accounted for when attempting to understand the role of vegetation in the global carbon balance.

Financial capital and the macroeconomy: a quantitative framework

OpenAIRE

Michael T. Kiley; Jae W. Sim

2011-01-01

Financial intermediation transforms short-term liquid assets into long-term capital assets. As a result, risk taking, in the form of long-term commitments despite unresolved short-term funding risk, is an essential element of intermediation. If such funding risk must be addressed by costly recapitalization and/or distressed asset sales due to capital market frictions, an increase in uncertainty can cause a disruption in the intermediation process by forcing risk-neutral intermediaries to beha...

Postoperative CPAP use impacts long-term weight loss following bariatric surgery.

Science.gov (United States)

Collen, Jacob; Lettieri, Christopher J; Eliasson, Arn

2015-03-15

Obstructive sleep apnea (OSA) is common among bariatric surgery candidates. After surgical weight loss, OSA frequently persists and untreated OSA can lead to weight gain. Long-term continuous positive airway pressure (CPAP) adherence is unclear and poor adherence may worsen weight loss outcomes. We sought to determine the impact of CPAP use on long-term weight-loss outcomes in a cohort of bariatric patients. Long-term observational study of bariatric surgery patients with OSA. Patients were evaluated with polysomnography preoperatively and one-year postoperatively. The cohort was again evaluated a mean of 7.2 years later to determine the relationship between long-term CPAP use and subsequent regain of weight. Twenty-four consecutive patients (aged 48.5 ± 9.4 years at time of surgery; 73% female) were included in the initial assessment, and long-term outcome data were available on 22 subjects. Persistent OSA was documented in 21 of 22 subjects (95%) one year postoperatively. Final evaluation occurred 7.2 ± 2.3 years following surgery. Weight (213.3 ± 39.1 to 235.3 ± 47.1 lb, p = 0.10) and BMI (32.5 ± 5.4 to 37.3 ± 8.2 kg/m(2), p = 0.03) increased in most (n = 19, 86.4%) from postoperative to final evaluation. CPAP use declined from 83.3% (preoperatively) to 38.1% (one year) and to 23.8% (final evaluation). BMI increased among those not using CPAP at long-term follow-up compared to those with continued CPAP use (6.8% v -1.8%, p = 0.05). In our cohort of bariatric patients with OSA, long-term adherence to CPAP therapy was poor, and non-adherence was associated with weight gain. Ongoing follow-up of OSA in this population may help to preserve initial achievements after surgical weight loss. © 2014 American Academy of Sleep Medicine.

The Effects of Foreign Capital Inflows

Directory of Open Access Journals (Sweden)

Sangyong Joo

1998-03-01

Full Text Available This thesis analyzes the pre-1996 foreign capital inflows to Korea and the major impact of macroeconomic variables, discussed the background of South Korean foreign exchange crisis. VAR model using the analysis results reflect the impact of capital inflows and the increase in the volume of overseas department of communication makes the current account deteriorated, and no increase in revenue. It is well known that the positive effects of free capital flows can lower interest rates, but after 1980 the results of analysis of data showed that, despite the freedom of capital inflows, but interest rates did not decline. In contrast, the increase in domestic credit makes incomes increase, although in the short term, but it makes interest rates decline. Under the circumstance than the inflow of overseas capital did not bring positive effects to economic circumstances, although the private sector (private enterprises and the number of financial institutions has worsened the financial structure, but the government finances and private consumption has been showing a strong and stable trend, deflation does not exist. One particularly striking is the sudden increase of the phenomenon of short-term debt, although a higher proportion of short-term debt, but the basic conditions for economic point of view, the inevitability and certainty of the foreign exchange crisis, there is still room for debate.

INSURANCE AND THE CORPORATE COST OF CAPITAL

Directory of Open Access Journals (Sweden)

Monika Wieczorek-Kosmala

2012-04-01

Full Text Available The purpose of the paper is to provide some support to the thesis that insurance may reduce the cost of capital in a company by influencing both the cost of capital components and the need for rising capital. The problem is here perceived from two perspectives – the classical concept related to the weighted average cost of capital (WACC and a novel concept related to the risk-based capital structure model with the total average cost of capital (TACC. The paper explains the idea of insurance as a retrospective (post-loss risk financing tool and the risk transfer mechanism upon it. As the risk financing tool insurance reduces the need for the balance-sheet capital in a company and thus the financial distress costs. Also, insurance may reduce the level of operating risk and thus influences the required returns of the capital providers. These observations allow emphasising the impact of insurance on the WACC. However, according to the novel concept of the risk-based capital structure, insurance (as a risk financing tool represents an off-balance sheet capital component. As a consequence, it extends the volume of total capital. The presented conceptual model, based on the TACC concept, indicates that large volume of insurance (the insurance sum and its relatively low cost (the insurance premium gives the possibility to the significant reduction of the cost of capital on average. The concluding remarks discuss some dilemmas over the utility of the TACC concept.

Towards a strategic line of intellectual capital development for CNEA (Comision Nacional de Energia Atomica de Argentina)

International Nuclear Information System (INIS)

Lopez, M.P.; Martinez Demarco, S.; Sbaffoni, Monica; Harriague, Santiago

2009-01-01

After an extended stagnation period, during which there was a big staff reduction in the nuclear sector in general and in CNEA in particular, with no new personnel hired, ageing staff and risk of skills and knowledge loss, in 2006 the Argentinean government launched a nuclear power programme based on the necessity of expanding the national energy matrix and taking into account the general concerns about greenhouse effects. The new projects drove to CNEA to the elaboration of a ten year Strategic Plan for CNEA, which includes the activities to be performed during the period 2009-2018. Conceived with wide participation of internal areas, the definition of the strategic plan included objectives, goals, management indicators, and periodical revisions. The Intellectual Capital being a fundamental asset to reach the goals, a chapter on these subject was included, for every knowledge domain. Even if the work is still in progress, partial results and tendencies can be shown. Every area of the organization is working on the analysis of their own strengths and weaknesses in terms of intellectual capital, knowledge loss risk analysis, and definition of future needs in terms of knowledge and skills. Analyzing strengths and weaknesses, there appeared common elements to most of the areas, indicating that besides the use of specific knowledge management, education and training tools, a Strategic Line for Intellectual Capital Development should be quickly implemented, to fill in gaps and protect the current knowledge asset. This presentation summarizes the work done up to now, showing tendencies in the situation, and proposing a strategic line for intellectual capital development, to help solving major staffing problems in CNEA. (author)

In-use product stocks link manufactured capital to natural capital.

Science.gov (United States)

Chen, Wei-Qiang; Graedel, T E

2015-05-19

In-use stock of a product is the amount of the product in active use. In-use product stocks provide various functions or services on which we rely in our daily work and lives, and the concept of in-use product stock for industrial ecologists is similar to the concept of net manufactured capital stock for economists. This study estimates historical physical in-use stocks of 91 products and 9 product groups and uses monetary data on net capital stocks of 56 products to either approximate or compare with in-use stocks of the corresponding products in the United States. Findings include the following: (i) The development of new products and the buildup of their in-use stocks result in the increase in variety of in-use product stocks and of manufactured capital; (ii) substitution among products providing similar or identical functions reflects the improvement in quality of in-use product stocks and of manufactured capital; and (iii) the historical evolution of stocks of the 156 products or product groups in absolute, per capita, or per-household terms shows that stocks of most products have reached or are approaching an upper limit. Because the buildup, renewal, renovation, maintenance, and operation of in-use product stocks drive the anthropogenic cycles of materials that are used to produce products and that originate from natural capital, the determination of in-use product stocks together with modeling of anthropogenic material cycles provides an analytic perspective on the material linkage between manufactured capital and natural capital.

Organizational networks and social capital

DEFF Research Database (Denmark)

Svendsen, Gunnar Lind Haase; Waldstrøm, Christian

2013-01-01

, as well as the derived benefits, or losses. Next, the chapter presents an empirical case apt to illustrate the theoretical findings in part one, namely the nineteenth-century Danish Cooperative Dairy Movement (Svendsen and Svendsen 2004). It is demonstrated how social capital among Danish peasants...

Can accounting rules be made neutral for bank capital regulation?

Directory of Open Access Journals (Sweden)

Guoxiang Song

2012-08-01

Full Text Available This paper evaluates several methods which can possibly be used to minimize the pro-cyclical impact of accounting rules on bank capital regulation. Improving accounting rules cannot eliminate the pro-cyclicality problem as therecentlyproposed expected credit loss impairment model for historical cost accounting may be moving towards using information inputs for fair values. Limiting the trading activities accounted for by fair valuesmay reduce the pro-cyclicality. However, it cannot eliminate the impact of fair values in a liquidity crisis. The most effective method is to exclude the unrealized accounting gains or losses from regulatory capital. But it needs a report of capital ratios based on accounting measures to help regulators read the early warning signals emitted by the accounting information.

Importance of social capital at the workplace for return to work among women with a history of long-term sick leave: a cohort study.

Science.gov (United States)

Rydström, Ingela; Dalheim Englund, Lotta; Dellve, Lotta; Ahlstrom, Linda

2017-01-01

The workplace is an essential source of social capital for many people; it provides mutual support and gives meaning to life. However, few prospective studies have thoroughly investigated the importance of aspects of social capital in the workplace. The aim of this study was to investigate the associations between aspects of social capital (social support, sense of community, and quality of leadership) at the workplace, and work ability, working degree, and vitality among women with a history of long-term sick leave from human service organizations. A longitudinal cohort study was performed among women with a history of long-term sick leave. The study started in 2005, and the women were followed up at 6 months, 1 year, and 6 years using self-reported questionnaires (baseline n  = 283). Linear mixed models were used for longitudinal analysis of the repeated measurements of prospective degree of work ability, working degree, and vitality. Analyses were performed with different models; the explanatory variables for each model were social support, sense of community, and quality of leadership and time. Social capital in terms of quality of leadership (being good at solving conflicts and giving high priority to job satisfaction), sense of community (co-operation between colleagues) and social support (help and support from immediate superiors and colleagues) increased the women's work ability score (WAS) as well as working degree over time. Additionally, social capital in terms of quality of leadership increased the women's vitality score over time. A sustainable return-to-work process among individuals with a history of long-term sick leave, going in and out of work participation, could be supported with social support, good quality of leadership, and a sense of community at the workplace. The responsibility for the rehabilitation process can not be reduced to an individual problem, but ought to include all stakeholders involved in the process, such as managers

Long-term space changes after premature loss of a primary maxillary first molar

OpenAIRE

Lin, Yng-Tzer J.; Lin, Yai-Tin

2016-01-01

Background/purpose: The consequence of premature loss of primary teeth resulting in the need for space maintainers has been controversial for many years. There is no longitudinal long-term report in literature regarding the premature loss of a primary maxillary first molar. The aim of this study was to continue observing the long-term space changes of 19 cases following premature loss of a primary maxillary first molar during the transition from primary to permanent dentition. Materials an...

Chronic disaster syndrome: Displacement, disaster capitalism, and the eviction of the poor from New Orleans.

Science.gov (United States)

Adams, Vincanne; VAN Hattum, Taslim; English, Diana

2009-11-01

Many New Orleans residents who were displaced in 2005 by Hurricanes Katrina and Rita and the subsequent levee failures and floods are still displaced. Living with long-term stress related to loss of family, community, jobs, and social security as well as the continuous struggle for a decent life in unsettled life circumstances, they manifest what we are calling "chronic disaster syndrome." The term refers not only to the physiological and psychological effects generated at the individual level by ongoing social disruption but also to the nexus of socioeconomic and political conditions that produce this situation as a long-term and intractable problem. Chronic disaster syndrome emerges from the convergence of three phenomena that create a nexus of displacement: long-term effects of personal trauma (including near loss of life and loss of family members, homes, jobs, community, financial security, and well-being); the social arrangements that enable the smooth functioning of what Naomi Klein calls "disaster capitalism," in which "disaster" is prolonged as a way of life; and the permanent displacement of the most vulnerable populations from the social landscape as a perceived remedy that actually exacerbates the syndrome.

Contingent convertible bonds as countercyclical capital measures

Directory of Open Access Journals (Sweden)

Francois Liebenberg

2017-06-01

Aim: The effectiveness of the CCB during contractions is not obvious. Contingent convertible (CoCo bonds – which are bond-like until triggered by a deterioration of a prescribed capital metric, at which point they convert into a form of equity – are explored as a supplementary countercyclical capital measure for such periods to establish whether or not they function effectively. Setting: The analysis is undertaken using global bank CoCo data, and then applied to South African banks. Methods: The Hodrick Prescott filter was applied to empirical historical data. Results: The CCB functions as a good countercyclical capital measure in times of economic expansion by absorbing losses and stabilising the capital base through equity issuance. Conclusion: The issuance of CoCo bonds – if their trigger mechanisms are designed correctly – may prove helpful to banks and the broader financial sector in times of economic contraction through the countercyclical capital properties that manifest through CoCo bonds under these economic conditions.

Long-term weight loss maintenance for obesity: a multidisciplinary approach

Directory of Open Access Journals (Sweden)

Montesi L

2016-02-01

Full Text Available Luca Montesi,1 Marwan El Ghoch,2 Lucia Brodosi,1 Simona Calugi,2 Giulio Marchesini,1 Riccardo Dalle Grave2 1Unit of Metabolic Diseases, S Orsola-Malpighi Hospital, “Alma Mater Studiorum” University, Bologna, Italy; 2Department of Eating and Weight Disorders, Villa Garda Hospital, Verona, Italy Abstract: The long-term weight management of obesity remains a very difficult task, associated with a high risk of failure and weight regain. However, many people report that they have successfully managed weight loss maintenance in the long term. Several factors have been associated with better weight loss maintenance in long-term observational and randomized studies. A few pertain to the behavioral area (eg, high levels of physical activity, eating a low-calorie, low-fat diet; frequent self-monitoring of weight, a few to the cognitive component (eg, reduced disinhibition, satisfaction with results achieved, confidence in being able to lose weight without professional help, and a few to personality traits (eg, low novelty seeking and patient–therapist interaction. Trials based on the most recent protocols of lifestyle modification, with a prolonged extended treatment after the weight loss phase, have also shown promising long-term weight loss results. These data should stimulate the adoption of a lifestyle modification-based approach for the management of obesity, featuring a nonphysician lifestyle counselor (also called “lifestyle trainer” or “healthy lifestyle practitioner” as a pivotal component of the multidisciplinary team. The obesity physicians maintain a primary role in engaging patients, in team coordination and supervision, in managing the complications associated with obesity and, in selected cases, in the decision for drug treatment or bariatric surgery, as possible more intensive, add-on interventions to lifestyle treatment. Keywords: obesity, lifestyle modification, cognitive behavior therapy, multidisciplinary treatment

Academic health systems management: the rationale behind capitated contracts.

Science.gov (United States)

Taheri, P A; Butz, D A; Greenfield, L J

2000-06-01

To determine why hospitals enter into "capitated" contracts, which often generate accounting losses. The authors' hypothesis is that hospitals coordinate contracts to keep beds full and that in principal, capitated contracts reflect sound capacity management. In high-overhead industries, different consumers pay different prices for similar services (e.g., full-fare vs. advanced-purchase plane tickets, full tuition vs. financial aid). Some consumers gain access by paying less than total cost. Hospitals, like other high-overhead business enterprises, must optimize the use of their capacity, amortizing overhead over as many patients as possible. This necessity for enhanced throughput forces hospitals and health systems to discount empty beds, sometimes to the point where they incur accounting losses serving some payors. The authors analyzed the cost accounting system at their university teaching hospital to compare hospital and intensive care unit (ICU) lengths of stay (LOS), variable direct costs (VDC), overhead of capitated patients, and reimbursement versus other payors for all hospital discharges (n = 29,036) in fiscal year 1998. The data were analyzed by diagnosis-related groups (DRGs), length of stay (LOS), insurance carrier, proximity to hospital, and discharge disposition. Patients were then distinguished across payor categories based on their resource utilization, proximity to the hospital, DRG, LOS, and discharge status. The mean cost for capitated patients was $4,887, less than half of the mean cost of $10,394 for the entire hospitalized population. The mean capitated reimbursement was $928/day, exceeding the mean daily VDC of $616 but not the total cost of $1,445/day. Moreover, the mean total cost per patient day of treating a capitated patient was $400 less than the mean total cost per day for noncapitated patients. The hospital's capitated health maintenance organization (HMO) patients made up 16. 0% of the total admissions but only 9.4% of the total

Financing of permanent working capital in agriculture

Directory of Open Access Journals (Sweden)

Vučković Branko

2017-01-01

Full Text Available In this paper, we attempted to present the problem of establishing adequate structure of financing medium agricultural enterprises and to point out the necessity for permanent working capital in those agricultural enterprises which can’t cover fixed assets, long-term placements and portion of inventories (raw material and spare parts, production in process with own equity and long-term sources of financing. For the purpose of analysing adequate structure of financing medium agricultural enterprises, we will use one of the most popular methods, such as case study and ratio analysis. Results of the research show that in primary agricultural production, next to standard long-term investment loans and short-term loans for investment in agricultural production, there is a necessity for financing in the permanent working capital which could assist continuity of production process and enable conditions for more profitable business in agriculture. It also should be noted that real and book value on this level of permanent working capital differs substantially.

Capitation, contracts, and control

International Nuclear Information System (INIS)

McIsaac, L.H.

1987-01-01

The radiology business manager in today's environment must become proficient in contract evaluations and negotiations. Health care is focusing on preventive medicine. Third-party payers are offering plans and programs to provide ''well-patient'' care. For prepaid (HMO-IPA-PTO) plans to succeed, demands for reduced fees and other entrepreneurial contractual arrangements are developed. This presentation will focus on specific items contained in most contracts. The issues of withhold, billing procedures, prompt-payment rewards, medical liability, capitation determinations, and modified capitation plans will be discussed. It is the intent of this presentation to share with the audience methods of evaluating contracts, the importance of negotiating specific terms, and an approach to determination of capitation amounts

12 CFR 956.4 - Risk-based capital requirement for investments.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Risk-based capital requirement for investments... OFF-BALANCE SHEET ITEMS FEDERAL HOME LOAN BANK INVESTMENTS § 956.4 Risk-based capital requirement for investments. Each Bank shall hold retained earnings plus general allowance for losses as support for the...

Capital Budgeting: Do Private Sector Methods of Budgeting for Capital Assets Have Applicability to the Department of Defense

Science.gov (United States)

2005-12-01

asset pricing model ( CAPM ). “According to the CAPM theory, investors determine their required return by adding a risk premium to the interest rate...NUMBER OF PAGES 77 14. SUBJECT TERMS Capital Budgeting; GAO; DOD; Capital Assets ; Risk, OMB; NPV, IRR 16. PRICE CODE 17. SECURITY...needs of the mission, as defined by the strategic plan, and limit the number of “nice to haves” (OMB, 1997). d. Alternatives to Capital Assets

Successful long-term weight loss maintenance in a rural population.

Science.gov (United States)

Milsom, Vanessa A; Middleton, Kathryn M Ross; Perri, Michael G

2011-01-01

Few investigations of successful long-term weight loss beyond two years have been conducted, and none has examined weight changes in medically underserved rural populations of older adults. The purpose of this study was to assess long-term weight loss maintenance 3.5 years after the completion of an initial six-month lifestyle intervention for obesity among women aged 50-75 years residing in rural communities. One hundred and ten obese women with a mean (± standard deviation) age of 60.08 ± 6.17 years and mean body mass index of 36.76 ± 5.10 kg/m(2) completed an in-person assessment during which their weight and adherence to behavioral weight management strategies were evaluated. Participants showed a mean weight reduction of 10.17% ± 5.0% during the initial six- month intervention and regained 6.95% ± 9.44% from the completion of treatment to follow-up assessment 3.5 years later. A substantial proportion of participants (41.80%) were able to maintain weight reductions of 5% or greater from baseline to follow-up. "Successful" participants (those who maintained losses of 5% or greater at follow-up) reported weighing themselves, self-monitoring their intake and calories, planning meals in advance, and choosing lower calorie foods with greater frequency than "unsuccessful" participants (those who lost less than 5%). Collectively, these findings indicate that a large proportion of participants were able to maintain clinically significant weight losses for multiple years after treatment, and that self-monitoring was a key component of successful long-term weight management.

12 CFR 615.5207 - Capital adjustments and associated reductions to assets.

Science.gov (United States)

2010-01-01

... FUNDING AND FISCAL AFFAIRS, LOAN POLICIES AND OPERATIONS, AND FUNDING OPERATIONS Capital Adequacy § 615... Accounting Standards Board. (k) For purposes of calculating capital ratios under this part, deferred-tax... may also need to be reduced for potential loss exposure on any recourse obligations, direct credit...

Measuring social capital: further insights.

Science.gov (United States)

Carrillo Álvarez, Elena; Riera Romaní, Jordi

Social capital is defined as the resources available to individuals and groups through membership in social networks. However, multiple definitions, distinct dimensions and subtypes of social capital have been used to investigate and theorise about its relationship to health on different scales, creating a confusing picture. This heterogeneity makes it necessary to systematise social capital measures in order to build a stronger foundation in terms of how these associations between the different aspects of social capital and each specific health indicator develop. We aim to provide an overview of the measurement approaches used to measure social capital in its different dimensions and scales, as well as the mechanisms through which it is presumed to influence health. Understanding the mechanisms through which these relationships develop may help to refine the existing measures or to identify new, more appropriate ones. Copyright © 2016 SESPAS. Publicado por Elsevier España, S.L.U. All rights reserved.

Ain't no mountain high enough? Setting high weight loss goals predict effort and short-term weight loss.

Science.gov (United States)

De Vet, Emely; Nelissen, Rob M A; Zeelenberg, Marcel; De Ridder, Denise T D

2013-05-01

Although psychological theories outline that it might be beneficial to set more challenging goals, people attempting to lose weight are generally recommended to set modest weight loss goals. The present study explores whether the amount of weight loss individuals strive for is associated with more positive psychological and behavioral outcomes. Hereto, 447 overweight and obese participants trying to lose weight completed two questionnaires with a 2-month interval. Many participants set goals that could be considered unrealistically high. However, higher weight loss goals did not predict dissatisfaction but predicted more effort in the weight loss attempt, as well as more self-reported short-term weight loss when baseline commitment and motivation were controlled for.

Predicting successful long-term weight loss from short-term weight-loss outcomes: new insights from a dynamic energy balance model (the POUNDS Lost study)123

Science.gov (United States)

Ivanescu, Andrada E; Martin, Corby K; Heymsfield, Steven B; Marshall, Kaitlyn; Bodrato, Victoria E; Williamson, Donald A; Anton, Stephen D; Sacks, Frank M; Ryan, Donna; Bray, George A

2015-01-01

Background: Currently, early weight-loss predictions of long-term weight-loss success rely on fixed percent-weight-loss thresholds. Objective: The objective was to develop thresholds during the first 3 mo of intervention that include the influence of age, sex, baseline weight, percent weight loss, and deviations from expected weight to predict whether a participant is likely to lose 5% or more body weight by year 1. Design: Data consisting of month 1, 2, 3, and 12 treatment weights were obtained from the 2-y Preventing Obesity Using Novel Dietary Strategies (POUNDS Lost) intervention. Logistic regression models that included covariates of age, height, sex, baseline weight, target energy intake, percent weight loss, and deviation of actual weight from expected were developed for months 1, 2, and 3 that predicted the probability of losing <5% of body weight in 1 y. Receiver operating characteristic (ROC) curves, area under the curve (AUC), and thresholds were calculated for each model. The AUC statistic quantified the ROC curve’s capacity to classify participants likely to lose <5% of their body weight at the end of 1 y. The models yielding the highest AUC were retained as optimal. For comparison with current practice, ROC curves relying solely on percent weight loss were also calculated. Results: Optimal models for months 1, 2, and 3 yielded ROC curves with AUCs of 0.68 (95% CI: 0.63, 0.74), 0.75 (95% CI: 0.71, 0.81), and 0.79 (95% CI: 0.74, 0.84), respectively. Percent weight loss alone was not better at identifying true positives than random chance (AUC ≤0.50). Conclusions: The newly derived models provide a personalized prediction of long-term success from early weight-loss variables. The predictions improve on existing fixed percent-weight-loss thresholds. Future research is needed to explore model application for informing treatment approaches during early intervention. The POUNDS Lost study was registered at clinicaltrials.gov as NCT00072995. PMID:25733628

Will the short-term capital crisis have long-term effects on supply and infrastructure?

International Nuclear Information System (INIS)

Theal, C.

2003-01-01

Natural gas supply and infrastructure is influenced by market segmentation and capital crises. The dynamics of market segmentation was highlighted and the implications for growth in the pipeline business were outlined. It was noted that the strategy for growth must mirror exploration and production trends in frontier gas and in oil sands growth. Acquisitions will likely shift from traditional regulated companies to energy infrastructure companies such as non-regulated midstream assets, natural gas liquids facilities, and liquefied natural gas infrastructure. In 2001, U.S. companies had a significant influence on the Canadian market by acquiring several Canadian assets. Several graphs were included with this presentation depicting: evolving U.S. based presence; distribution of Canadian exploration and production assets; changing composition of acquirers in 2002; increased U.S. presence from 1999; Canadian consolidation trends; the American advantage; the capital crisis; year to year activity levels by the independents; impact on industry activity levels; capital spending trends; growth spending outside the Western Canada Sedimentary Basin; Royalty Trusts as the new intermediate sub-sector; and, reshaping the landscape. A final section of the presentation described the impact on supply and infrastructure of both oil and natural gas with reference to gas storage and pipelines. In particular the economics of developing frontier gas and shipping it via the Alaska pipeline and the proposed Mackenzie Delta pipeline was discussed. 3 tabs., 28 figs

Academic Health Systems Management: The Rationale Behind Capitated Contracts

Science.gov (United States)

Taheri, Paul A.; Butz, David A.; Greenfield, Lazar J.

2000-01-01

Objective To determine why hospitals enter into “capitated” contracts, which often generate accounting losses. The authors’ hypothesis is that hospitals coordinate contracts to keep beds full and that in principal, capitated contracts reflect sound capacity management. Summary Background Data In high-overhead industries, different consumers pay different prices for similar services (e.g., full-fare vs. advanced-purchase plane tickets, full tuition vs. financial aid). Some consumers gain access by paying less than total cost. Hospitals, like other high-overhead business enterprises, must optimize the use of their capacity, amortizing overhead over as many patients as possible. This necessity for enhanced throughput forces hospitals and health systems to discount empty beds, sometimes to the point where they incur accounting losses serving some payors. Methods The authors analyzed the cost accounting system at their university teaching hospital to compare hospital and intensive care unit (ICU) lengths of stay (LOS), variable direct costs (VDC), overhead of capitated patients, and reimbursement versus other payors for all hospital discharges (n = 29,036) in fiscal year 1998. The data were analyzed by diagnosis-related groups (DRGs), length of stay (LOS), insurance carrier, proximity to hospital, and discharge disposition. Patients were then distinguished across payor categories based on their resource utilization, proximity to the hospital, DRG, LOS, and discharge status. Results The mean cost for capitated patients was $4,887, less than half of the mean cost of $10,394 for the entire hospitalized population. The mean capitated reimbursement was $928/day, exceeding the mean daily VDC of $616 but not the total cost of $1,445/day. Moreover, the mean total cost per patient day of treating a capitated patient was $400 less than the mean total cost per day for noncapitated patients. The hospital’s capitated health maintenance organization (HMO) patients made up 16

13 CFR 108.1840 - Computation of NMVC Company's Capital Impairment Percentage.

Science.gov (United States)

2010-01-01

... Capital Impairment Percentage. 108.1840 Section 108.1840 Business Credit and Assistance SMALL BUSINESS ADMINISTRATION NEW MARKETS VENTURE CAPITAL (âNMVCâ) PROGRAM NMVC Company's Noncompliance With Terms of Leverage Computation of Nmvc Company's Capital Impairment § 108.1840 Computation of NMVC Company's Capital Impairment...

Review of capital investment in economic growth cycle

Science.gov (United States)

Shaffie, Siti Salihah; Jaaman, Saiful Hafizah; Mohamad, Daud

2016-11-01

The study of linkages of macroeconomics factors is prominent in order to understand how the economic cycle affects one another. These factors include interest rate, growth rate, saving and capital investment which are mutually correlated to stabilize the GDP. Part of this study, it will look upon the impact of investment which emphasize the efficiency of capital investment to the economic growth. Capital investment is one investment appraisal that gives impact to the economic growth. It is a long term investment and involve with large amount of capital to incorporate the development of private and public capital investment.

Behavior Change Strategies for Successful Long-Term Weight Loss: Focusing on Dietary and Physical Activity Adherence, Not Weight Loss

Science.gov (United States)

Hongu, Nobuko; Kataura, Martha P.; Block, Linda M.

2011-01-01

This article helps Extension professionals guide individuals in a successful long-term weight loss program. A program should focus on behavioral changes (improving eating habits and physical activity), not just weight loss. In order to do this, Extension professionals should implement behavior change strategies that motivate individuals to…

Identify too big to fail banks and capital insurance: An equilibrium approach

Directory of Open Access Journals (Sweden)

Katerina Ivanov

2017-09-01

Full Text Available The objective of this paper is develop a rational expectation equilibrium model of capital insurance to identify too big to fail banks. The main results of this model include (1 too big to fail banks can be identified explicitly by a systemic risk measure, loss betas, of all banks in the entire financial sector; (2 the too big to fail feature can be largely justified by a high level of loss beta; (3 the capital insurance proposal benefits market participants and reduces the systemic risk; (4 the implicit guarantee subsidy can be estimated endogenously; and lastly, (5 the capital insurance proposal can be used to resolve the moral hazard issue. We implement this model and document that the too big to fail issue has been considerably reduced in the pro-crisis period. As a result, the capital insurance proposal could be a useful macro-regulation innovation policy tool

Economic Loan Loss Provision and Expected Loss

Directory of Open Access Journals (Sweden)

Stefan Hlawatsch

2010-10-01

Full Text Available The intention of a loan loss provision is the anticipation of the loan's expected losses by adjusting the book value of the loan. Furthermore, this loan loss provision has to be compared to the expected loss according to Basel II and, in the case of a difference, liable equity has to be adjusted. This however assumes that the loan loss provision and the expected loss are based on a similar economic rationale, which is only valid conditionally in current loan loss provisioning methods according to IFRS. Therefore, differences between loan loss provisions and expected losses should only result from different approaches regarding the parameter estimation within each model and not due to different assumptions regarding the outcome of the model. The provisioning and accounting model developed in this paper overcomes the before-mentioned shortcomings and is consistent with an economic rationale of expected losses. Additionally, this model is based on a close-to-market valuation of the loan that is in favor of the basic idea of IFRS. Suggestions for changes in current accounting and capital requirement rules are provided.

Strategic Human Capital: Preserving a Vital National Asset

National Research Council Canada - National Science Library

Scott, Lynn

1997-01-01

.... These reductions neither account for the strategic value of human capital nor for the possible consequences of its depletion and the resulting dispersal and loss of strategic knowledge, skills and experience...

Simulated annealing algorithm for optimal capital growth

Science.gov (United States)

Luo, Yong; Zhu, Bo; Tang, Yong

2014-08-01

We investigate the problem of dynamic optimal capital growth of a portfolio. A general framework that one strives to maximize the expected logarithm utility of long term growth rate was developed. Exact optimization algorithms run into difficulties in this framework and this motivates the investigation of applying simulated annealing optimized algorithm to optimize the capital growth of a given portfolio. Empirical results with real financial data indicate that the approach is inspiring for capital growth portfolio.

Successful long-term weight loss maintenance in a rural population

Directory of Open Access Journals (Sweden)

Milsom VA

2011-11-01

Full Text Available Vanessa A Milsom1,2, Kathryn M Ross Middleton2, Michael G Perri21Department of Psychiatry, Yale University School of Medicine, New Haven, CT, 2Department of Clinical and Health Psychology, University of Florida, Gainesville, FL, USABackground: Few investigations of successful long-term weight loss beyond two years have been conducted, and none has examined weight changes in medically underserved rural populations of older adults. The purpose of this study was to assess long-term weight loss maintenance 3.5 years after the completion of an initial six-month lifestyle intervention for obesity among women aged 50–75 years residing in rural communities.Methods: One hundred and ten obese women with a mean (± standard deviation age of 60.08 ± 6.17 years and mean body mass index of 36.76 ± 5.10 kg/m2 completed an in-person assessment during which their weight and adherence to behavioral weight management strategies were evaluated.Results: Participants showed a mean weight reduction of 10.17% ± 5.0% during the initial six-month intervention and regained 6.95% ± 9.44% from the completion of treatment to follow-up assessment 3.5 years later. A substantial proportion of participants (41.80% were able to maintain weight reductions of 5% or greater from baseline to follow-up. "Successful" participants (those who maintained losses of 5% or greater at follow-up reported weighing themselves, self-monitoring their intake and calories, planning meals in advance, and choosing lower calorie foods with greater frequency than "unsuccessful" participants (those who lost less than 5%.Conclusion: Collectively, these findings indicate that a large proportion of participants were able to maintain clinically significant weight losses for multiple years after treatment, and that self-monitoring was a key component of successful long-term weight management.Keywords: obesity, weight loss, weight maintenance, lifestyle intervention, rural, health disparities

Specific and General Human Capital in an Endogenous Growth Model

OpenAIRE

Evangelia Vourvachaki; Vahagn Jerbashian; : Sergey Slobodyan

2014-01-01

In this article, we define specific (general) human capital in terms of the occupations whose use is spread in a limited (wide) set of industries. We analyze the growth impact of an economy's composition of specific and general human capital, in a model where education and research and development are costly and complementary activities. The model suggests that a declining share of specific human capital, as observed in the Czech Republic, can be associated with a lower rate of long-term grow...

13 CFR 120.340 - What is the Export Working Capital Program?

Science.gov (United States)

2010-01-01

... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false What is the Export Working Capital... LOANS Special Purpose Loans Export Working Capital Program (ewcp) § 120.340 What is the Export Working Capital Program? Under the EWCP, SBA guarantees short-term working capital loans made by participating...

Skills and Regional Entrepreneurship Capital Formation

DEFF Research Database (Denmark)

Mendonça, Joana; Grimpe, Christoph

2016-01-01

Entrepreneurship capital has frequently been characterized as an important determinant of regional economic growth. Yet, we have limited knowledge about what explains why certain regions are more successful in creating entrepreneurship capital in general and in particular in technology......- and knowledge-intensive sectors. In this paper, we shed light on the skill base of a region in terms of its endowment with human capital and the composition, i.e. specialization or diversity, of skills. Moreover, we look at the context in which entrepreneurship capital formation takes place by focusing...... on differences in the institutional infrastructures for entrepreneurship in two European countries: Germany and Portugal. Based on harmonized datasets, our results indicate important differences between the countries. Specifically, our results suggest that both specialization and diversity theories hold...

Identify too big to fail banks and capital insurance: An equilibrium approach

OpenAIRE

Katerina Ivanov

2017-01-01

The objective of this paper is develop a rational expectation equilibrium model of capital insurance to identify too big to fail banks. The main results of this model include (1) too big to fail banks can be identified explicitly by a systemic risk measure, loss betas, of all banks in the entire financial sector; (2) the too big to fail feature can be largely justified by a high level of loss beta; (3) the capital insurance proposal benefits market participants and reduces the systemic risk; ...

Knowledge Loss Risk Assessment in Education and Industry

International Nuclear Information System (INIS)

Pleslic, Sanda; Varas, Gonzalo Jimenez

2014-01-01

Knowledge management is based on the idea that the most valuable resource of some organisation is the knowledge of its people. Organisational performances will depend, among many other things, on how effectively its people can create new knowledge, share knowledge in organisation, and use that knowledge to achieve higher efficiency and the best results. The aim of knowledge management is not necessarily to manage all knowledge, just the knowledge that is most important to the organisation. It is about ensuring that people have the knowledge they need, where and when they need it. Knowledge is derived from information but it is richer and more meaningful than information. In organisational terms, knowledge is generally considered as 'knowing how', or 'applied action'. Organisational knowledge is often classified as explicit and tacit knowledge. Explicit knowledge can be captured and written down in documents or databases. Tacit knowledge is the knowledge that people carry in their heads and can be difficult to access. Tacit knowledge is considered more valuable because it provides context for people, ideas and experiences. Knowledge management is discipline consisting of three components: people, processes and technology. These three components are often compared to the legs of stool- if one is missing, the stool will collapse. However, one component is more important than the others- people. What happens when someone leaves an organisation? Does the organisation feel knowledge loss? According intellectual capital theory organisation will lose not only human capital but also social, structural and relational capital. Determining what happens when these valuable experts leave may help organisation to better understand the impact of knowledge loss and formulate appropriate action in future. Management of knowledge loss is process consisting of three steps: risk assessment, determination of approach for critical knowledge capturing, and monitoring

The complexity of self-regulating food intake in weight loss maintenance. A qualitative study among short- and long-term weight loss maintainers

DEFF Research Database (Denmark)

Pedersen, Susanne; Sniethotta, Falko F.; Sainsbury, Kirby

2018-01-01

Rationale Whether self-regulation of food intake in weight loss maintenance (WLM) differs between being a short-term maintainer (having maintained without regaining less than 12 months) and a long-term maintainer (having maintained without regaining at least 12 months) is under-researched. Object......Rationale Whether self-regulation of food intake in weight loss maintenance (WLM) differs between being a short-term maintainer (having maintained without regaining less than 12 months) and a long-term maintainer (having maintained without regaining at least 12 months) is under......-researched. Objective The aim of this study was to explore the self-regulatory strategies and self-efficacy beliefs applied by short- and long-term maintainers to the complex set of behaviours comprising food intake in WLM, and to obtain a better understanding of their challenges in the various food-intake processes...... in WLM. Method Individual interviews (14 female/4 male) were conducted with nine Danish short- and nine long-term weight loss maintainers. The Health Action Process Approach (HAPA) was applied post-hoc to organise data and support analyses, since the approach focuses on both the cognitions (e.g., self...

13 CFR 108.1830 - NMVC Company's Capital Impairment definition and general requirements.

Science.gov (United States)

2010-01-01

... ADMINISTRATION NEW MARKETS VENTURE CAPITAL (âNMVCâ) PROGRAM NMVC Company's Noncompliance With Terms of Leverage Computation of Nmvc Company's Capital Impairment § 108.1830 NMVC Company's Capital Impairment definition and... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false NMVC Company's Capital Impairment...

CAPITAL STRUCTURE AND VENTURE CAPITAL

Directory of Open Access Journals (Sweden)

Becsky-Nagy Patricia

2015-07-01

Full Text Available Venture capital significantly changes the capital structure of the portfolio company at the time of the investment. Venture capitalists contribute to the company’s success through their active involvement in the management and their added value appears in the increase of the value of the equity. At the same time with taking active role in the management, agency problem occurs, that complicates the cooperation and the success of exit. In this article we search the answer for the question whether the preferred equity, that are commonly used in the US for bridging the agency problem, are used and able to help Hungarian venture capitalists to manage agency problems. On the other hand we examined how the venture capital affect capital structure, how the venture capitalists value added appear in the capital structure. During the evaluation of the three case studies, we came to the conclusion, that the venture capital investments have positive effect on the liabilities of the enterprises, as the capital structure indexes show. However, the investors need the ownership, which help them to step up resolutely, when things change for the worse, and companies need the expertise, which the investors bring with their personal assistance. The investor’s new attitude also has positive effect on a mature company, which has an experienced leader, because he can show another aspect, as a person who come from outside. During the examination of the capital structure, we cannot disregard the events of the company’s environment, which have effects on the firm. The investor’s decisions also appear different ways. Because of this, every venture capital investment is different, just as the capital structure of the firms, in which they invest.

Modelling of capital requirements in the energy sector: capital market access. Final memorandum

Energy Technology Data Exchange (ETDEWEB)

1978-04-01

Formal modelling techniques for analyzing the capital requirements of energy industries have been performed at DOE. A survey has been undertaken of a number of models which forecast energy-sector capital requirements or which detail the interactions of the energy sector and the economy. Models are identified which can be useful as prototypes for some portion of DOE's modelling needs. The models are examined to determine any useful data bases which could serve as inputs to an original DOE model. A selected group of models are examined which can comply with the stated capabilities. The data sources being used by these models are covered and a catalog of the relevant data bases is provided. The models covered are: capital markets and capital availability models (Fossil 1, Bankers Trust Co., DRI Macro Model); models of physical capital requirements (Bechtel Supply Planning Model, ICF Oil and Gas Model and Coal Model, Stanford Research Institute National Energy Model); macroeconomic forecasting models with input-output analysis capabilities (Wharton Annual Long-Term Forecasting Model, Brookhaven/University of Illinois Model, Hudson-Jorgenson/Brookhaven Model); utility models (MIT Regional Electricity Model-Baughman Joskow, Teknekron Electric Utility Simulation Model); and others (DRI Energy Model, DRI/Zimmerman Coal Model, and Oak Ridge Residential Energy Use Model).

Social capital and workplace bullying.

Science.gov (United States)

Pihl, Patricia; Albertsen, Karen; Hogh, Annie; Andersen, Lars Peter Sønderbo

2017-01-01

Workplace bullying is a serious stressor with devastating short- and long-term consequences. The concept of organizational social capital may provide insights into the interactional and communicative dynamics of the bullying process and opportunities for prevention. This study aimed to explore the association between organizational social capital and being a target or observer of workplace bullying. Based on self-reported cross-sectional data from a large representative sample of the Danish working population (n = 10.037), logistic regression analyses were conducted to explore at the individual level the associations between vertical and horizontal organizational social capital with being a target or observer of workplace bullying. In the fully adjusted models, low organizational social capital (vertical and horizontal) was associated with significantly increased odds ratios of both self-labelled (vertical: OR = 3.25; CI = 2.34-4.51; horizontal: OR = 3.17; CI = 2.41-4.18) and observed workplace bullying (vertical: OR = 2.09; CI = 1.70-2.56; horizontal: OR = 1.60; CI = 1.35-1.89), when compared with high organizational social capital. This study supports that characteristics of the psychosocial work environment are of importance in the development of workplace bullying, and provides focus on the importance of self-reported organizational social capital.

Determinants of capital structure: An empirical study on Vietnamese listed firms

Directory of Open Access Journals (Sweden)

Le Trung Thanh

2017-05-01

Full Text Available This paper aims to explore the capital structure of listed Vietnamese companies in an updated context of financial development (the recent situation of domestic equity and debt capital market. By applying Random Effect model for panel data, we analyze 05 firm-specific and 01 country-specific determinants of capital structure based on the data set of 228 firms listed on Ho Chi Minh Stock Exchange during the period 2010 – 2014. The results indicated that The Pecking Order theory better explains the financing behaviors of Vietnamese listed firms. Accordingly, although in recent years, Vietnam’s equity market and corporate debt capital market have evolved considerably, the capital structure of Vietnamese companies are still dominated by the use of short-term financing sources. High-growth firms or large-sized firms still rely heavily on external debt rather than equity issuance while State-owned enterprises (SOE are reported to have positive association with the use of long-term financing sources. This study proposed some recommendations to the policymakers in two dimensions: improving the efficiency and role of capital markets to mitigate the reliance on short-term funds and ensuring that bank finance is allocated on a commercial basis.

Managing soil natural capital

DEFF Research Database (Denmark)

Cong, Ronggang; Termansen, Mette; Brady, Mark

2017-01-01

Farmers are exposed to substantial weather and market related risks. Rational farmers seek to avoid large losses. Future climate change and energy price fluctuations therefore make adaptating to increased risks particularly important for them. Managing soil natural capital—the capacity of the soil...... to generate ecosystem services of benefit to farmers—has been proven to generate the double dividend: increasing farm profit and reducing associated risk. In this paper we explore whether managing soil natural capital has a third dividend: reducing the downside risk (increasing the positive skewness of profit......). This we refer to as the prudence effect which can be viewed as an adaptation strategy for dealing with future uncertainties through more prudent management of soil natural capital. We do this by developing a dynamic stochastic portfolio model to optimize the stock of soil natural capital—as indicated...

SOCIAL CAPITAL IN INVOLUNTARY DISPLACEMENT AND RESETTLEMENT

Directory of Open Access Journals (Sweden)

Melissa Quetulio-Navarra

2013-07-01

Full Text Available Social capital is often seen as a substitute for lack of other types of capital amongpoor people. Because of the recognized applicability of the social capital conceptand its correlation with the different dimensions of poverty, it has been used inevaluating the adaptation and integration of involuntarily displaced individualsinto their new environment. This paper presents insights based on a review of thefindings of studies that looked into the role of social capital in conflict- anddevelopment-induced displacement contexts. Althoughboth types of displace-ments are involuntary or forced in nature, they differ in terms of the role of socialcapital regarding its main sources, the formation pattern and its determinants.Social capital studies in forced resettlement appear to be relatively small innumber and are heavily concentrated on first worldcountries and conflict- anddevelopment-induced displacements. The conduct of similar studies in developingcountries and in a disaster-induced resettlement context, the third type ofinvoluntary displacement, should generate new and relevant findings regardingthe role of social capital in resettlement communities.

Risk Financing for Schools: The Capital Markets Approach.

Science.gov (United States)

Rudolph, Richard G.

1988-01-01

The capital markets approach is an alternative means of risk financing whereby a school system establishes and controls its own insurance company and makes systematic contributions to pay for expected and anticipated losses and their associated costs. (MLF)

Interventions to improve long-term weight loss in patients following bariatric surgery: challenges and solutions

Directory of Open Access Journals (Sweden)

McGrice M

2015-06-01

Full Text Available Melanie McGrice, Kathlene Don Paul Nutrition Plus Enterprises, Melbourne, VIC, Australia Abstract: Bariatric surgery aims to provide long-term weight loss and improvement in weight-related comorbidities. Unfortunately, some patients do not achieve predicted weight loss targets and many regain a portion of their lost weight within 2–10 years postsurgery. A review of the literature found that behavioral, dietary, psychological, physical, and medical considerations can all play a role in suboptimal long-term weight loss. Recommendations to optimize long-term weight loss include ensuring that the patient understands how the procedure works, preoperative and postoperative education sessions, tailored nutritional supplements, restraint with liquid kilojoules, pureed foods, grazing and eating out of the home, an average of 60 minutes of physical activity per day, and lifelong annual medical, psychological, and dietary assessments.Keywords: weight, bariatric, surgery

Human capital gains associated with robotic assisted laparoscopic pyeloplasty in children compared to open pyeloplasty.

Science.gov (United States)

Behan, James W; Kim, Steve S; Dorey, Frederick; De Filippo, Roger E; Chang, Andy Y; Hardy, Brian E; Koh, Chester J

2011-10-01

Robotic assisted laparoscopic pyeloplasty is an emerging, minimally invasive alternative to open pyeloplasty in children for ureteropelvic junction obstruction. The procedure is associated with smaller incisions and shorter hospital stays. To our knowledge previous outcome analyses have not included human capital calculations, especially regarding loss of parental workdays. We compared perioperative factors in patients who underwent robotic assisted laparoscopic and open pyeloplasty at a single institution, especially in regard to human capital changes, in an institutional cost analysis. A total of 44 patients 2 years old or older from a single institution underwent robotic assisted (37) or open (7) pyeloplasty from 2008 to 2010. We retrospectively reviewed the charts to collect demographic and perioperative data. The human capital approach was used to calculate parental productivity losses. Patients who underwent robotic assisted laparoscopic pyeloplasty had a significantly shorter average hospital length of stay (1.6 vs 2.8 days, p human capital gains, eg decreased lost parental wages, and lower hospitalization expenses. Future comparative outcome analyses in children should include financial factors such as human capital loss, which can be especially important for families with young children. Copyright © 2011 American Urological Association Education and Research, Inc. Published by Elsevier Inc. All rights reserved.

Influence of mixed land-use on realizing the social capital

Directory of Open Access Journals (Sweden)

Noha Ahmed Nabil

2015-08-01

This research paper handles the topic in terms of three themes. The first theme handles the mixed land-use in terms of the concept, historical development, positives and negatives and reaching to its measurable variables. Whereas the second theme deals with the social capital in terms of its concepts, forms, types and its measurable indices. And the third theme deals with the selection of six study areas in the Greater Cairo Region and the measurement of each index of mixed land-use and social capital in these zones for reaching to the mutual relationship between the two variables. Whereas the search has proved the presence of a direct relationship between them; the more the ratio of mixed land-use, the more the social capital.

Short-term memory loss over time without retroactive stimulus interference.

Science.gov (United States)

Cowan, Nelson; AuBuchon, Angela M

2008-02-01

A key question in cognitive psychology is whether information in short-term memory is lost as a function of time. Lewandowsky, Duncan, and Brown (2004) argued against that memory loss because forgetting in serial recall occurred to the same extent across serial positions regardless of the rate of recall. However, we believe Lewandowsky et al. (2004) only prevented one of two types of rehearsal; they did not prevent nonarticulatory rehearsal via attention. To prevent articulatory and nonarticulatory rehearsal without introducing interference, we presented unevenly timed stimuli for serial recall and, on some trials, required that the timing of stimuli be reproduced in the response. In those trials only, evidence of memory loss over time emerged. Further research is needed to identify whether this memory loss is decay or lost distinctiveness.

12 CFR 955.6 - Risk-based capital requirement for acquired member assets.

Science.gov (United States)

2010-01-01

... losses as support for the credit risk of all AMA estimated by the Bank to represent a credit risk that is...) Recalculation of credit enhancement. For risk-based capital purposes, each Bank shall recalculate the estimated... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Risk-based capital requirement for acquired...

Capitals, assets, and resources: some critical issues.

Science.gov (United States)

Savage, Mike; Warde, Alan; Devine, Fiona

2005-03-01

This paper explores the potential of Bourdieu's approach to capital as a way of understanding class dynamics in contemporary capitalism. Recent rethinking of class analysis has sought to move beyond what Rosemary Crompton (1998) calls the 'employment aggregate approach', one which involves categorizing people into class groups according to whether they have certain attributes (e.g. occupations). Instead, recent contributions by Pierre Bourdieu, Erik Wright, Aage Sorensen, and Charles Tilly have concentrated on understanding the mechanisms that produce class inequalities. Concepts such as assets, capitals and resources (CARs) are often used to explain how class inequalities are produced, but there remain ambiguities and differences in how such terms are understood. This paper identifies problems faced both by game theoretical Marxism and by the rational choice approach of Goldthorpe in developing an adequate approach to CARs. It then turns to critically consider how elements of Bourdieu's approach, where his concept of capital is related to those of habitus and field, might overcome these weaknesses. Our rendering of his arguments leads us to conclude that our understanding of CARs might be enriched by considering how capital is distinctive not in terms of distinct relations of exploitation, but through its potential to accumulate and to be converted to other resources. This focus, we suggest, sidesteps otherwise intractable problems in CAR based approaches.

THEORETICAL FRAMEWORK ON CAPITAL STRUCTURE AND FIRM'S PERFORMANCE

OpenAIRE

L. Senthil Kumar

2017-01-01

Capital structure is the composition of debt and equity securities that are used to finance company’s assets. Both debt and equity securities are used by most of the companies to raise funds. Having determined its investment policy, a company should plan the sources of finance and their mix. Companies which do not formally plan their capital structures are likely to face difficulties in raising capital on favourable terms in the long-run. Financial experts and authorities differ as to the com...

TAFE Diploma Graduates: Personal Capital Investments and Returns

Science.gov (United States)

van der Linde, Chris

2008-01-01

TAFE currently uses the NCVER Student Outcomes Survey (SOS) to determine outcomes related to TAFE diploma programs. The SOS measures TAFE outcomes in terms of three major categories: skills development, employment and further study. This study introduces the notion of personal capital as distinct from human capital. It argues that, while valuable,…

Global Earthquake and Volcanic Eruption Economic losses and costs from 1900-2014: 115 years of the CATDAT database - Trends, Normalisation and Visualisation

Science.gov (United States)

Daniell, James; Skapski, Jens-Udo; Vervaeck, Armand; Wenzel, Friedemann; Schaefer, Andreas

2015-04-01

tolls from historic events is discussed. The CATDAT socioeconomic databases of parameters like disaggregated population, GDP, capital stock, building typologies, food security and inter-country export interactions are used to create a current exposure view of the world. The potential for losses globally is discussed with a re-creation of each damaging event since 1900, with well in excess of 10 trillion USD in normalised losses being seen from the 115 years of events. Potential worst case events for volcano and earthquake around the globe are discussed in terms of their potential for damage and huge economic loss today, and over the next century using SSP projections adjusted over a country basis including inter-country effects.

Five models of capitalism

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Luiz Carlos Bresser-Pereira

2012-03-01

Full Text Available Besides analyzing capitalist societies historically and thinking of them in terms of phases or stages, we may compare different models or varieties of capitalism. In this paper I survey the literature on this subject, and distinguish the classification that has a production or business approach from those that use a mainly political criterion. I identify five forms of capitalism: among the rich countries, the liberal democratic or Anglo-Saxon model, the social or European model, and the endogenous social integration or Japanese model; among developing countries, I distinguish the Asian developmental model from the liberal-dependent model that characterizes most other developing countries, including Brazil.

26 CFR 1.665(f)-1A - Undistributed capital gain.

Science.gov (United States)

2010-04-01

... 26 Internal Revenue 8 2010-04-01 2010-04-01 false Undistributed capital gain. 1.665(f)-1A Section... Beginning on Or After January 1, 1969 § 1.665(f)-1A Undistributed capital gain. (a) Domestic trusts. (1) The term undistributed capital gain means (in the case of a trust other than a foreign trust created by a U...

The Economic Value of Human Capital

OpenAIRE

Gulie Alexandra Emanuela

2012-01-01

The human factor created by physical work and/or intellectual property of all existing material, is unequivocally active value of any work, ie human capital translates into different activities, specialized or not, it creates these individuals. History of the term human capital has experienced over time a series of ups and downs, as agreed or rejected by academia and the political class. Although known affirmation and its conceptual structure only after the seventh decade of the twentieth cen...

Intellectual Capital.

Science.gov (United States)

Snyder, Herbert W.; Pierce, Jennifer Burek

2002-01-01

This review focuses on intellectual capital and its relationship to information professionals. Discusses asset recognition; national practices and the acceptance of intellectual capital; definitions of intellectual capital; measuring intellectual capital, including multiple and single variable measures; managing intellectual capital; and knowledge…

Implementing the countercyclical capital buffer in South Africa: Practical considerations

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Pravin Burra

2015-03-01

Full Text Available The Basel II regulatory framework significantly increased the resilience of the banking system, but proved ineffective in preventing the 2008/9 financial crisis. The subsequent introduction of Basel III aimed, inter alia, to supplement bank capital using buffers. The countercyclical buffer boosts existing minimum capital requirements when systemic risk surges are detected. Bolstering capital in favourable economic conditions cushions losses in unfavourable conditions, thereby addressing capital requirement procyclicality. This paper contains an overview of the countercyclical capital buffer and a critical discussion of its implementation as proposed in Basel III. Consequences of the buffer's introduction for South African banks are explored, and in particular, potential systemic risk indicator variables are identified that may be used by the South African Reserve Bank (SARB as early warning indicators of imminent systemic financial distress. These indicators may be of value to the SARB, which could use them in taking decisions on the build-up and release of the countercyclical buffer for South African banks.

78 FR 76973 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

Science.gov (United States)

2013-12-20

... Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule, and Market Risk Capital..., 2013, a document adopting a final rule that revises its risk-based and leverage capital requirements... risk-based and leverage capital requirements for banking organizations. An allowance for additional...

The Risk-Return Trade-Off in Human Capital Investment

DEFF Research Database (Denmark)

Christiansen, Charlotte; Joensen, Juanna Schrøter; Nielsen, Helena Skyt

In this paper we analyze investments in human capital assets in a way which is standard for financial assets, but not (yet) for human capital assets. We study mean-variance plots of human capital assets. We compare the properties of human capital returns using a performance measure and by sing...... tests for mean-variance spanning. A risk-return trade-off is revealed, hich is not only related to the length of education but also to the type of education. We identify a range of educations that are efficient in terms of investment goods, and a range of educations that are inefficient, and may...

Capital projects coordination

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Zubović Jovan

2004-01-01

Full Text Available This paper looks at the difficulties of managing modem capital projects and endeavors to reduce the complexities to simpler and more understandable terms. It examines the project environment, defines project management and discusses points of difference from traditional management. In the second part of the paper are presented fundamentals for project success for different types of projects.

Pension fund's illiquid assets allocation under liquidity and capital constraints

NARCIS (Netherlands)

Broeders, Dirk; Jansen, Kristy; Werker, Bas

2017-01-01

This paper empirically assesses the impact of liquidity and capital constraints on the allocation of defined benefit pension funds to illiquid assets. Liquidity constraints result from short-term pension payments and collateral requirements on derivatives. Capital constraints follow from the

ORGANIZATIONAL CAPITAL THEORY EXPRESSION OF ELECTRONIC HEALTH

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Tomas Vedlūga

2017-03-01

Full Text Available Implementation of e-health is a very difficult and complex process in terms of health policy that requires both organizational ability to meet market requirements and well-managed internal communication, which is carried out through organizational capital and high organizational culture and philosophy. This process requires a change in the organizational processes of health care institutions, ensuring the management and use of health information in order to improve the functioning of health care institutions. Scientists emphasize that health care institutions, with a high organizational capital can effectively promote the development of e-health, by consistently improving the quality of health care services and increasing the confidence and sense of security by enhancing the individual‘s ability to become more involved in the health care system. Nevertheless, in Lithuania, the progress of health care institutions in the field of e-health varies significantly, therefore, different tendencies of e-health care indicators tend to be related to organizational capital. Organizational capital covering the various dimensions of social context analysis, and organizational capital theory is a paradigm that attempts to explain the e-health inequalities at the level of organizations. This paper has evaluated the organizational capital theory expression of the e-health level, to identify and analyze organizational capital assessment indices in the field of e-health and modeled organizational capital assessment scheme.

Exploring futures from an energy perspective. A natural capital accounting model study into the long-term economic development potential of the Netherlands

International Nuclear Information System (INIS)

Noorman, K.J.

1995-01-01

The need to quantify economic activity in physical flows has been stressed several times elsewhere. To relate economic development with 'physical reality', in this thesis Resource Accounting (or Natural Capital Accounting) has been adopted as a method. This physical perspective on sustainable development has been made operational by designing an ECCO (Enhancement of Capital Creation Options) model for the Netherlands using energy as a physical numeraire. The purpose of the model is to investigate the long-term physical aspects of contemporary and future (economic or political) strategies to move the economy towards a more sustainable state and to explore the dynamics of such a process. Chapter 2 deals with the physical nature of economic processes and the fundamental role of thermodynamics in an economic system. Chapter 3 discusses the application of the ECCO paradigm within the context of Natural Capital Accounting methodology. Furthermore, the main structure of an ECCO model is presented. Chapter 4 elaborates on the Dutch model. Historical trends in direct energy use and the methodology of I-O analysis as well as the results of I-O analysis are presented in chapter 5. A method has been developed to estimate the primary energy captured in capital stocks in the diverse ECCO sectors. This method as well as the results, derived from applying this method, are presented in chapter 6. In chapter 7 the application of ECCO as a tool for assessing long term physical consequences of different development strategies is discussed. With respect to reducing the throughput of matter and energy, this study concentrates on energy conservation to reduce the demand for primary energy and the transition to a more sustainable energy supply sector by introducing renewable energy sources. figs., tabs., appendices, refs

THE CAPITAL OF THE ENTERPRISE-FUNDING SOURCE WITH STABLE CHARACTER

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CĂRUNTU GENU ALEXANDRU

2015-06-01

Full Text Available The establishment of an economic unit, regardless of the type and its legal form is conditioned by the existence of a capital which it commences, he creates and assumes obligations and dealings with third parties. As an important part of the heritage capital expressed as pecuniary obligation is designed to drive toward those who participate in the formation of capital, whether they are natural or legal persons. Whereas these obligations do not have period due, they are permanent throughout the existence and functioning of the economic unit. Capital represents funding sources used by an enterprise, a permanent and lasting manner. They must fund all amounts fixed and structural part of the amount of Revolving Fund (the circulating assets of mining subsided with the debts. Determining the optimal size of capital is an issue of the utmost importance in the financial management of the company, as a possible insufficiency of resources influences long-term solvency, liquidity and return it. Over the long term, the goal of any business is to get a sufficient return on capital invested. Creating a company, maintaining the market position and its economic growth requires resources to ensure optimal deployment, to development activities. Creation and operation of a society is not possible in the absence of the capital which can be considered a set of resources likely to provide future revenue streams.

Essays on Corporate Capital Structure

OpenAIRE

Albul, Boris

2012-01-01

This dissertation studies capital structure decisions of levered and unlevered firms using the modeling framework of Leland (1994). The first chapter, Cash Holdings and Financial Constraints, focuses on optimal management of cash holdings by equity holders of a levered, financially constrained firm. I add financial constraints as a market friction to the traditional model. A financially constrained firm is not able to issue new equity to subsidize net operating losses and is subject to pre...

The loss of short-term visual representations over time: decay or temporal distinctiveness?

Science.gov (United States)

Mercer, Tom

2014-12-01

There has been much recent interest in the loss of visual short-term memories over the passage of time. According to decay theory, visual representations are gradually forgotten as time passes, reflecting a slow and steady distortion of the memory trace. However, this is controversial and decay effects can be explained in other ways. The present experiment aimed to reexamine the maintenance and loss of visual information over the short term. Decay and temporal distinctiveness models were tested using a delayed discrimination task, in which participants compared complex and novel objects over unfilled retention intervals of variable length. Experiment 1 found no significant change in the accuracy of visual memory from 2 to 6 s, but the gap separating trials reliably influenced task performance. Experiment 2 found evidence for information loss at a 10-s retention interval, but temporally separating trials restored the fidelity of visual memory, possibly because temporally isolated representations are distinct from older memory traces. In conclusion, visual representations lose accuracy at some point after 6 s, but only within temporally crowded contexts. These findings highlight the importance of temporal distinctiveness within visual short-term memory. PsycINFO Database Record (c) 2014 APA, all rights reserved.

Access to capital: implications for hospital consolidation.

Science.gov (United States)

Grauman, Daniel M; Harris, John M; Martin, Christine

2010-04-01

Recent economic challenges have left many independent hospitals and their boards concerned about long-term viability of their organizations as stand-alone facilities. The CFO's role should be to facilitate a candid, objective assessment of the organization's ability to continue to go it alone. Key indicators that should be considered in such an assessment include patient volume, degree of physician alignment, profitability, current debt burden, cash, available capital versus capital requirements, and credit rating changes.

Determinants of capital structure.

Science.gov (United States)

McCue, M J; Ozcan, Y A

1992-01-01

This study analyzes the determinants of hospital capital structure in a new market setting that are created by the financial pressures of prospective payment and the intense price competition among hospitals. Using California data, the study found hospital system affiliation, bed size, growth rate in revenues, operating risk, and asset structure affected both short- and long-term debt borrowings. In addition, percentage of uncompensated care, profitability, and payer mix influenced short-term borrowings while market conditions and ownership affected long-term borrowings. Most significant of all is the finding that smaller hospitals tend to borrow more, possibly because they cannot generate funds internally.

THE FINANCIAL STABILITY ANALYSIS THROUGH THE WORKING CAPITAL

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LĂPĂDUŞI MIHAELA LOREDANA

2012-12-01

Full Text Available The main goal of any business is to maintain the financial stability not only on the short term but also on medium and long term, in other words to maintain a harmony between financial sources and financial needs, respectively the equality between the assets and liabilities from the balance sheet. On short term, maintaining the financial stability involves correlating the temporary resources with the temporary uses by using the necessary working capital, and on the long-term, the financial stability involves comparing the permanent resources with the permanent uses by working capital indicator. The determination of the financial state of the company at a certain moment represents the key moment in establishing and adopting the economic and financial decisions in the management of the company. Maintaining the financial stability of the company represents one of the main objectives of the financial analysis and management and it also provides the optimum development of the entire economic and financial activity of the company. The analysis of the working capital size is based on the financial statement data and information, and based on this analysis is considered the financial situation of the company, the financial equilibrium state at a certain moment. The purpose of this article is to highlight the fact that the maintenance of the financial stability on medium and long term is subordinated to the “working capital” indicator, its content and interpretation evolving in time and varying differently from one company to another. The results of this research may have broad applicability in the field of the companies’ activity and it materializes in the complex approach of the working capital regarded as a classic indicator, frequently used in the financial analysis and with profound significance in establishing the financial state in general and the equilibrium state in particular.

Intratympanic steroid prevents long-term spiral ganglion neuron loss in experimental meningitis

DEFF Research Database (Denmark)

Worsøe, Lise Lotte; Brandt, C.T.; Lund, S.P.

2010-01-01

Hypothesis: Intratympanic steroid treatment prevents hearing loss and cochlear damage in a rat model of pneumococcal meningitis. Background: Sensorineural hearing loss is a long-term complication of meningitis affecting up to a third of survivors. Streptococcus pneumoniae is the bacterial species...... for 3 days. Hearing loss and cochlear damage were assessed by distortion product otoacoustic emissions, auditory brainstem response at 16 kHz, and spiral ganglion neuron density. Results: Fifty-six days after infection, auditory brainstem response showed no significant differences between groups...... in the spiral ganglion compared with both intratympanic and systemic saline (p = 0.0082 and p = 0.0089; Mann-Whitney test). Histology revealed fibrosis of the tympanic membrane and cavity in steroid-treated animals, which plausibly caused the low-frequency hearing loss. Conclusion: Intratympanic betamethasone...

THE EFFECT OF HUMAN CAPITAL ON SOCIAL CAPITAL AMONG ENTREPRENEURS

OpenAIRE

HANNES OTTÓSSON; KIM KLYVER

2010-01-01

Using data collected from 714 entrepreneurs in a random sample of 10,000 Danes, this study provides an investigation of the effect of human capital on social capital among entrepreneurs. Previous entrepreneurship research has extensively investigated the separated effect of human capital and social capital on different entrepreneurial outputs. The study takes a step back and investigates how these two capital concepts are related — specifically how human capital influences social capital. In ...

Excessive weight loss in exclusively breastfed full-term newborns in a Baby-Friendly Hospital

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Maria Aparecida Mezzacappa

Full Text Available Abstract Objective: To determine the risk factors for weight loss over 8% in full-term newborns at postpartum discharge from a Baby Friendly Hospital. Methods: The cases were selected from a cohort of infants belonging to a previous study. Healthy full-term newborns with birth weight ≥2.000g, who were exclusively breastfed were included and excluded twins and those undergoing phototherapy as well as those discharged after 96h of life. The analyzed maternal and neonatal variables were maternal age, parity, ethnicity, type of delivery, maternal diabetes, gender, gestational age and appropriate weight for age. Adjusted multiple and univariate Cox regression analyses were used, considering as significant p8% were cesarean delivery and older maternal age. At the adjusted multiple regression analysis, the model to explain the weight loss was cesarean delivery (Relative risk 2.27, 95% of Confidence Interval 1.54–3.35. Conclusions: The independent predictor for weight loss>8% in exclusively breastfed full-term newborns in a Baby-Friendly Hospital was the cesarean delivery. It is possible to reduce the number of cesarean sections to minimize neonatal excessive weight loss and the resulting use of infant formula during the first week of life.

Long-term weight-loss maintenance in obese patients with knee osteoarthritis

DEFF Research Database (Denmark)

Christensen, Pia; Henriksen, Marius; Bartels, Else Marie

2017-01-01

Background: A formula low-energy diet (LED) reduces weight effectively in obese patients with knee osteoarthritis, but the role of LED in long-term weight-loss maintenance is unclear.Objective: We aimed to determine the effect of intermittent LED compared with daily meal replacements on weight...

EFFECTIVENESS OF CAPITAL MARKET DERIVATIVES IN HOUSING DELIVERY OF NIGERIA EMERGING MARKET

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Bernard Adjekophori

2016-07-01

Full Text Available The capital market is unarguably the most robust institution in any economy notable for mobilizing the necessary fund for financing long-term productive project. It controls relatively large amounts of capital and represent the largest institutional providing long-term credits for capital project like real estate that requires huge capital outlay. This study therefore, attempts an investigation into the effectiveness of capital market derivatives in housing delivery in Lagos. An empirical survey research was conducted in Lagos, using a random sampling technique with a structured questionnaire to collect data from 147 respondents comprising 89 stockbrokers and 58 real estate developers in Lagos mega-city. Data collected were analyzed with SPSS using descriptive and inferential statistics. The result revealed that 56.7% of the observed variations in housing delivery (R2= 0.567; p< 0.05 is explained by capital market derivatives, which suggests that, proper utilization of capital market derivatives will enhance and improve housing delivery in Nigeria. However, this is not been adequately used by developers of real estate projects in the study. Thus, the study recommends amongst other remedial steps that a synergetic effort should be created between the capital market and real estate developers which will enhance effective housing delivery, the development of people and the Nation.

Prefrontocortical dopamine loss in rats delays long-term extinction of contextual conditioned fear, and reduces social interaction without affecting short-term social interaction memory.

Science.gov (United States)

Fernandez Espejo, Emilio

2003-03-01

Prefrontal dopamine loss delays extinction of cued fear conditioning responses, but its role in contextual fear conditioning has not been explored. Medial prefrontal lesions also enhance social interaction in rats, but the role of prefrontal dopamine loss on social interaction memory is not known. Besides, a role for subcortical accumbal dopamine on mnesic changes after prefrontal dopamine manipulation has been proposed but not explored. The objective was to study the involvement of dopaminergic neurotransmission in the medial prefrontal cortex (mPFC) and nucleus accumbens in two mnesic tasks: contextual fear conditioning and social interaction memory. For contextual fear conditioning, short- and long-term freezing responses after an electric shock were studied, as well as extinction retention. Regarding social interaction memory, the recognition of a juvenile, a very sensitive short-term memory test, was used. Dopamine loss was carried out by injection of 6-hydroxydopamine, and postmortem catecholamine levels were analyzed by high-performance liquid chromatography. Prefrontocortical dopamine loss (>76%) led to a reactive enhancement of accumbal dopamine content (ploss. In lesioned rats, long-term extinction of contextual fear conditioning was significantly delayed and extinction retention was impaired without changes in acquisition and short-term contextual fear conditioning and, on the other hand, acquisition and short-term social interaction memory were not affected, although time spent on social interaction was significantly reduced. Added dopamine loss in the nucleus accumbens (>76%) did not alter these behavioral changes. In summary, the results of the present study indicate that the dopaminergic network in the mPFC (but not in the nucleus accumbens) coordinates the normal long-term extinction of contextual fear conditioning responses without affecting their acquisition, and it is involved in time spent on social interaction, but not acquisition and short-term

On the wealth of nations: Bourdieuconomics and social capital

DEFF Research Database (Denmark)

Svendsen, Gunnar Lind Haase; Svendsen, Gert Tinggaard

2003-01-01

Why are some countries richer than others? We suggest in the line of political economy theory that traditional production factors cannot explain the observed differences. Rather, differences in the quality of formal institutions are crucial to economic wealth. However, this type of political...... economy theory accentuating the role of formal institutions cannot stand on its own. This implies a socio-economic approach in the study where we supplement the formal institutional thesis with Bourdieu's idea of material and immaterial forms of capital. Such new socio-economics - which might be termed...... a 'Bourdieuconomics' - implies the usage of a capital theory that, methodologically, operates with material and immaterial forms of capital at the same level. Here, we stress the particular importance of an immaterial form of capital, namely social capital, which facilitates informal human exchange thereby...

Using Human Capital Planning to Predict Future Talent Needs

Science.gov (United States)

Ruse, Donald; Jansen, Karen

2008-01-01

Human capital planning is an important tool in predicting future talent needs and sustaining organizational excellence over the long term. This article examines the concept of human capital planning and outlines how institutions can use HCP to identify the type and number of talent needed both now and in the future, recognize and prioritize talent…

An Energy Model for Viewing Embodied Human Capital Theory

Science.gov (United States)

Kaufman, Neil A.; Geroy, Gary D.

2007-01-01

Human capital development is one of the emerging areas of study with regard to social science theory, practice, and research. A relatively new concept, human capital is described in terms of individual knowledge skills and experience. It is currently expressed as a function of education as well as a measure of economic activity. Little theory…

Green Capital: Student Capital student-led evaluation

OpenAIRE

Runkle, Q.; Haines, T.; Piper, K.; Leach, S.

2016-01-01

To assess and evaluate the impact of the Green Capital: Student Capital project, the partnership (the University of the West of England, the University of Bristol, the Students’ Union at UWE, and Bristol Students’ Union) worked with NUS to train a team of students from both universities to lead an evaluation process. There were two key aims for the evaluation: \\ud \\ud • To verify the quantitative outputs of the Green Capital: Student Capital project; \\ud • And to make a qualitative assessment...

On Relational Capital in Social Media

DEFF Research Database (Denmark)

Etter, Michael; Fieseler, Christian

2010-01-01

Stakeholder relationships become increasingly important as new communication technologies en-able interest groups to communicate their demands, organize themselves and voice their concerns with ease. In this changing stakeholder environment, the creation and maintenance of relational social capital...... relies not only on communication in classical media alone but also on the various online channels summarized by the term “social media.” Utilizing a literature study and expert interviews, this article explores how organizations engage in creating and maintaining relational social capital...... by communicating their corporate social responsibility efforts through social media channels....

Triads of capital

DEFF Research Database (Denmark)

Svendsen, Gunnar Lind Haase

of capital means a coherent stock of capital, including social, cultural and physical capital, which belongs to a local community. The case of civic organization in rural Denmark 1800-1900 shows how the three capitals successively acted as driving forces: physical capital about year 1800, social capital...... about year 1880, and cultural capital about year 1900. In each case, one form of capital changed the two others in a chain reaction process, which ultimately led to a major reorganization of the triads of capital in the local rural communities....

Timely loss recognition and termination of unprofitable projects

Directory of Open Access Journals (Sweden)

Anup Srivastava

2015-09-01

Full Text Available Ideally, firms should discontinue projects that become unprofitable. Managers, however, continue to operate such projects because of their limited employment horizons and empire-building motivations (Jensen, 1986; Ball, 2001. Prior studies suggest that timely loss recognition in accounting earnings enables lenders, shareholders, and boards of directors to identify unprofitable projects; thereby, enabling them to force managers to discontinue such projects before large value erosion occurs. However, this conjecture has not been tested empirically. Consistent with this notion, we find that timely loss recognition increases the likelihood of timely closures of unprofitable projects. Moreover, managers, by announcing late discontinuations of such projects, reveal their inability to select good projects and/or to contain losses, when projects turn unprofitable. Accordingly, thereafter, the fund providers and board of directors are likely to demand improved timeliness of loss recognition and stringent scrutiny of firms’ capital expenditure plans. Consistently, we find that firms that announce large discontinuation losses reduce capital expenditures and improve timeliness of loss recognition in subsequent years. Our study provides evidence that timely loss reporting affects “real” economic decisions and creates economic benefits.

DETERMINANT FACTORS OF THE CAPITAL STRUCTURE OF BRAZILIAN TECHNOLOGY COMPANIES

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Camila Freitas Sant´Ana

2015-12-01

Full Text Available The purpose of this study is to identify determinant factors of the capital structure of Brazilian technology companies. The research was characterized as descriptive, document and quantitative, consisting of 21 companies in the communications, telecommunications and digital industry, according to the Exame magazine ranking. The analysis was established from 2009 to 2013 using panel data regression. The results indicate that the growth rate of capital and control type have a positive relationship with the general and long-term debt. However, it was found that company size, profitability and type of capital point to a negative relationship with the capital structure.

Intellectual Capital

DEFF Research Database (Denmark)

Bukh, Per Nikolaj; Christensen, Karina Skovvang

2015-01-01

Intellectual capital (IC) consists of human capital, organizational capital, and relational capital, and their relationships. It has been said to be important to explain the difference between market value and book value of a firm, but measurement of IC is more likely to be important because...

Greens of the European Green Capitals

Science.gov (United States)

Cömertler, Seval

2017-10-01

Well established and maintained green areas have a key role on reaching the high quality of life and sustainability in urban environments. Therefore, green areas must be carefully accounted and evaluated in the urban planning affairs. In this context, the European Green Capitals, which attach a great importance to the green areas, have a great potential to act as a role model for both small and big cities in all around the world. These leading cities (chronologically, Stockholm, Hamburg, Vitoria-Gasteiz, Nantes, Copenhagen, Bristol, Ljubljana, Essen and Nijmegen) are inspiring for the other cities which seek to achieve more sustainable and environmentally friendly places through green areas. From this point of view, the aim of this paper was to investigate the green areas of the European Green Capitals. The paper covered whole European Green Capitals, and the application form of each Green Capital was used as a primary data source. Consequently, the paper put forwarded that the European Green Capitals have considerably large amount and high proportion of green areas. Further, these cities provide an excellent access to the public green areas. As a result of abundant provision and proper distribution, the almost all citizens in most of the Green Capitals live within a distance of 300 meters to a green area. For further researches, the paper suggested that these green capitals should be investigated in terms of their efforts, measures, goals and plans, policies and implications to administer, to protect, to enhance and to expand the green areas.

Measuring the value of groundwater and other forms of natural capital.

Science.gov (United States)

Fenichel, Eli P; Abbott, Joshua K; Bayham, Jude; Boone, Whitney; Haacker, Erin M K; Pfeiffer, Lisa

2016-03-01

Valuing natural capital is fundamental to measuring sustainability. The United Nations Environment Programme, World Bank, and other agencies have called for inclusion of the value of natural capital in sustainability metrics, such as inclusive wealth. Much has been written about the importance of natural capital, but consistent, rigorous valuation approaches compatible with the pricing of traditional forms of capital have remained elusive. We present a guiding quantitative framework enabling natural capital valuation that is fully consistent with capital theory, accounts for biophysical and economic feedbacks, and can guide interdisciplinary efforts to measure sustainability. We illustrate this framework with an application to groundwater in the Kansas High Plains Aquifer, a rapidly depleting asset supporting significant food production. We develop a 10-y time series (1996-2005) of natural capital asset prices that accounts for technological, institutional, and physical changes. Kansas lost approximately $110 million per year (2005 US dollars) of capital value through groundwater withdrawal and changes in aquifer management during the decade spanning 1996-2005. This annual loss in wealth is approximately equal to the state's 2005 budget surplus, and is substantially more than investments in schools over this period. Furthermore, real investment in agricultural capital also declined over this period. Although Kansas' depletion of water wealth is substantial, it may be tractably managed through careful groundwater management and compensating investments in other natural and traditional assets. Measurement of natural capital value is required to inform management and ongoing investments in natural assets.

Organizational Capital of the Enterprise

Directory of Open Access Journals (Sweden)

Vladimir Nikiforovich Belkin

2016-09-01

Full Text Available In the article, the main theoretical questions of the organizational capital of the enterprise are considered. The concept of «organizational capital of the enterprise» as a system consisting of three subsystems (organization of production, labour organization and management is introduced. It is shown that the organizational capital forms the labour relations system at the enterprise consisting of the cooperation, technological, economic, moral labour relations and the relations of workers’ responsibility. The model of cyclic evolution of crisis at the enterprise caused by shortcomings of the organizational capital is revealed. It is shown that the organizational capital is a basis for the realization of the human capital, which creates value added. A considerable attention is paid to the experience of the creation and functioning of the organizational capital at the enterprises of the Japanese corporation «Toyota». The Russian economic literature on crisis management quite often considers only the financial aspects of diagnostics, proposing the optimization of cash flows, elimination of excess stocks, transition to the medium-term budgeting and others. However, the deep reasons of crisis need to be found not only in financial streams, but also in the system of the work relationships. The shortcomings in the development of technological, cooperation, economic, moral labour relations and the relations of responsibility directly reflects the shortcomings in the development of the elements of the organizational capital as they «are adjusted» by these elements. In turn, organizational problems affect the product quality leading to the customer attrition and decrease in the enterprise’s financial performance. The lack of financial resources cause the need to save costs (first of all, on personnel, that was brightly shown by the economic crisis of 2009 that even more weakens the enterprise and system of labour relations. Finally, the

Loss distribution approach for operational risk capital modelling under Basel II: Combining different data sources for risk estimation

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Pavel V. Shevchenko

2013-07-01

Full Text Available The management of operational risk in the banking industry has undergone significant changes over the last decade due to substantial changes in operational risk environment. Globalization, deregulation, the use of complex financial products and changes in information technology have resulted in exposure to new risks very different from market and credit risks. In response, Basel Committee for banking Supervision has developed a regulatory framework, referred to as Basel II, that introduced operational risk category and corresponding capital requirements. Over the past five years, major banks in most parts of the world have received accreditation under the Basel II Advanced Measurement Approach (AMA by adopting the loss distribution approach (LDA despite there being a number of unresolved methodological challenges in its implementation. Different approaches and methods are still under hot debate. In this paper, we review methods proposed in the literature for combining different data sources (internal data, external data and scenario analysis which is one of the regulatory requirement for AMA.

The Role of Capital Structure in Company’s Financing

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Nicoleta BARBUTA-MISU

2014-12-01

Full Text Available The changes in capital structure and in financial components of a company have a particular importance in choosing optimal financing decision, in determining the impact of changes in capital structure and of elements within balance sheet. To quantify such an impact in the literature have been considered many factors as debt-equity ratio, profitability, self financing capacity and the ability to earn profit. Using the comparative method over a period of three years to five companies acting in the metallurgical sector in this paper has been analyzed the evolution of debt capacity ratio, return on equity ratio, financial long term debt ratio, interest coverage ratio and long-term financial autonomy ratio. Based on these findings it was concluded that the variation of capital structure and performance of the companies affects and influences funding arrangements considered by the companies’ managers.

12 CFR 1229.5 - Capital distributions for adequately capitalized Banks.

Science.gov (United States)

2010-01-01

... capitalized Banks. 1229.5 Section 1229.5 Banks and Banking FEDERAL HOUSING FINANCE AGENCY ENTITY REGULATIONS CAPITAL CLASSIFICATIONS AND PROMPT CORRECTIVE ACTION Federal Home Loan Banks § 1229.5 Capital... classification of adequately capitalized. A Bank may not make a capital distribution if such distribution would...

78 FR 62417 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

Science.gov (United States)

2013-10-22

..., Standardized Approach for Risk-Weighted Assets, Market Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule, and Market Risk Capital Rule AGENCY: Federal Deposit Insurance... Assets, Market Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule, and...

Consequences of Early Conductive Hearing Loss on Long-Term Binaural Processing.

Science.gov (United States)

Graydon, Kelley; Rance, Gary; Dowell, Richard; Van Dun, Bram

The aim of the study was to investigate the long-term effects of early conductive hearing loss on binaural processing in school-age children. One hundred and eighteen children participated in the study, 82 children with a documented history of conductive hearing loss associated with otitis media and 36 controls who had documented histories showing no evidence of otitis media or conductive hearing loss. All children were demonstrated to have normal-hearing acuity and middle ear function at the time of assessment. The Listening in Spatialized Noise Sentence (LiSN-S) task and the masking level difference (MLD) task were used as the two different measures of binaural interaction ability. Children with a history of conductive hearing loss performed significantly poorer than controls on all LiSN-S conditions relying on binaural cues (DV90, p = binaural cues. Fifteen children with a conductive hearing loss history (18%) showed results consistent with a spatial processing disorder. No significant difference was observed between the conductive hearing loss group and the controls on the MLD task. Furthermore, no correlations were found between LiSN-S and MLD. Results show a relationship between early conductive hearing loss and listening deficits that persist once hearing has returned to normal. Results also suggest that the two binaural interaction tasks (LiSN-S and MLD) may be measuring binaural processing at different levels. Findings highlight the need for a screening measure of functional listening ability in children with a history of early otitis media.

Konsep Perjanjian Profit and Loss Sharing dalam Ekonomi islam

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Fahrurrozi Fahrurrozi

2016-12-01

Full Text Available Agreements of Profit and Loss Sharing is an agreement based on the confidence (trust investment, in another sense that financiers or Shahibul Mall will deliver the funds to the fund manager or mudharib after investors feel confident that the managers of these funds both skill and moral can be trusted to manage the capital provided by the expertise and capital will not manipulate it. With this fact it is necessary to examine the concept of profit and loss sharing agreement, with the hope to find a concept that is based on the teachings of Islam. In this paper presents about the concept of Profit and Loss Sharing in the view of Islamic economics is based on the Qur'an and Hadith.

Teachers' Understanding and Operationalisation of `Science Capital'

Science.gov (United States)

King, Heather; Nomikou, Effrosyni; Archer, Louise; Regan, Elaine

2015-12-01

Across the globe, governments, industry and educationalists are in agreement that more needs to be done to increase and broaden participation in post-16 science. Schools, as well as teachers, are seen as key in this effort. Previous research has found that engagement with science, inclination to study science and understanding of the value of science strongly relates to a student's science capital. This paper reports on findings from the pilot year of a one-year professional development (PD) programme designed to work with secondary-school teachers to build students' science capital. The PD programme introduced teachers to the nature and importance of science capital and thereafter supported them to develop ways of implementing science capital-building pedagogy in their practice. The data comprise interviews with the participating teachers (n = 10), observations of classroom practices and analyses of the teachers' accounts of their practice. Our findings suggest that teachers found the concept of science capital to be compelling and to resonate with their own intuitive understandings and experiences. However, the ways in which the concept was operationalised in terms of the implementation of pedagogical practices varied. The difficulties inherent in the operationalisation are examined and recommendations for future work with teachers around the concept of science capital are developed.

EVALUATING HUMAN CAPITAL IN A KNOWLEDGE – BASED APPROACH

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Emanoil MUSCALU

2014-04-01

Full Text Available The widespread enthusiasm for a knowledge-based approach to understanding the nature of a business and the possible basis for sustained competitive advantage have renewed interest in human capital evaluation or measurement. While many attempts have been made to develop methods for measuring intellectual capital, none have been widely adopted in the business world. In the knowledge-based organizations, and generally, in the information society, human capital is recognized as the fundamental factor of overall progress, and experts agree that long-term investment in human capital has strong drive-propagation effects at the individual, organizational, national and global level. In this paper, we consider that a knowledge-based approach can offer new possibilities and answers to illustrate the importance of evaluation the human capital and knowledge assets by consistently generating added value in the business world.

Maternal capital and the metabolic ghetto: An evolutionary perspective on the transgenerational basis of health inequalities.

Science.gov (United States)

Wells, Jonathan C K

2010-01-01

There is particular interest in understanding socioeconomic and ethnic variability in health status. The developmental origins of disease hypothesis emphasize the importance of growth patterns across the life-course in relation to noncommunicable disease risk. The physiological components of cardiovascular risk, collectively termed the metabolic syndrome, derive in part from a disparity between the homeostatic "metabolic capacity" of vital organs and the "metabolic load" induced by large tissue masses, a rich diet and sedentary behavior. From an evolutionary perspective, the risk of such disparity is decreased by maternal physiology regulating offspring growth trajectory during gestation and lactation. Maternal capital, defined as phenotypic resources enabling investment in the offspring, allows effective buffering of the offspring from nutritional perturbations and represents the environmental niche initially occupied by the offspring. Offspring growth patterns are sensitive to the magnitude of maternal capital during early windows of plasticity. Offspring life-history strategy can then respond adaptively to further factors across the life-course, but only within the context of this initial maternal influence on growth. Maternal somatic capital is primarily gained or lost across generations, through variable rates of fetal and infant growth. I argue that the poor nutritional experience of populations subjected to colonialism resulted in a systematic loss of maternal capital, reflected in downward secular trends in stature. Accelerating the recovery of somatic capital within generations overloads metabolic capacity and exacerbates cardiovascular risk, reflected in increased disease rates in urbanizing and emigrant populations. Public health policies need to benefit metabolic capacity without exacerbating metabolic load. 2009 Wiley-Liss, Inc.

12 CFR 701.34 - Designation of low income status; Acceptance of secondary capital accounts by low-income...

Science.gov (United States)

2010-01-01

... NATIONAL CREDIT UNION ADMINISTRATION REGULATIONS AFFECTING CREDIT UNIONS ORGANIZATION AND OPERATION OF... governmental or private entity. (6) Subordination of claim. The secondary capital account investor's claim... investor or into a separate account from which the secondary capital investor may make withdrawals. Losses...

The optimization of structure of capital firm «Ukrtelecom»

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M.I. Yaremenko

2015-03-01

Full Text Available In the paper the optimization of capital enterprises in the economic crisis, namely the method of Modigliani–Miller. This is especially true because Ukraine is in an economic and financial crisis whose impact on businesses need to level through internal resources and companies with state tax support. Established that the values of financial leverage marginal tax benefits equal marginal cost of bankruptcy, in a model of Modigliani–Miller, taking into account taxes and compromise approach to the capital levels of financial leverage, which costs bankruptcy materialize in cash. Bankruptcy costs depend on the probability of bankruptcy and ruin the company and the value of the costs associated with it. With small loans and low probability of ruin and bankruptcy costs are low. Advantages of taxation lead to higher market price of the capital of the enterprise. Using the tools of financial and operational management, the owners of the firm's capital can allocate losses so that most of them will be in the creditors.

Natural Capital Management: An Evolutionary Paradigm for Sustainable Restoration Investment - 13455

International Nuclear Information System (INIS)

Koetz, Maureen T.

2013-01-01

Unlike other forms of capital assets (built infrastructure, labor, financial capital), the supply of usable or accessible air, land, and water elements (termed Natural Capital Assets or NCA) available to enterprise processes is structurally shrinking due to increased demand and regulatory restriction. This supply/demand imbalance is affecting all forms of public and private enterprise (including Federal Facilities) in the form of encroachment, production limits, cost increases, and reduced competitiveness. Department of Energy (DOE) sites are comprised of significant stocks of NCA that function as both conserved capital (providing ecosystem services and other reserve capacity), and as natural infrastructure (supporting major Federal enterprise programs). The current rubric of 'Environmental Stewardship' provides an unduly constrained management paradigm that is focused largely on compliance process metrics, and lacks a value platform for quantifying, documenting, and sustainably re-deploying re-capitalized natural asset capacity and capability. By adopting value-based system concepts similar to built infrastructure accounting and information management, 'stewarded' natural assets relegated to liability- or compliance-focused outcomes become 're-capitalized' operational assets able to support new or expanded mission. This growing need for new accounting and management paradigms to capture natural capital value is achieving global recognition, most recently by the United Nations, world leaders, and international corporations at the Rio+20 Summit in June of 2012. Natural Capital Asset Management (NCAM) TM is such an accounting framework tool. Using a quantification-based design, NCAM TM provides inventory, capacity and value data to owners or managers of natural assets such as the DOE that parallel comparable information systems currently used for facility assets. Applied to Environmental Management (EM) and other DOE program activities, the natural asset capacity and

Natural Capital Management: An Evolutionary Paradigm for Sustainable Restoration Investment - 13455

Energy Technology Data Exchange (ETDEWEB)

Koetz, Maureen T. [Koetz and Duncan LLC, Suite 30J, 355 South End Avenue, New York, NY 10280 (United States)

2013-07-01

Unlike other forms of capital assets (built infrastructure, labor, financial capital), the supply of usable or accessible air, land, and water elements (termed Natural Capital Assets or NCA) available to enterprise processes is structurally shrinking due to increased demand and regulatory restriction. This supply/demand imbalance is affecting all forms of public and private enterprise (including Federal Facilities) in the form of encroachment, production limits, cost increases, and reduced competitiveness. Department of Energy (DOE) sites are comprised of significant stocks of NCA that function as both conserved capital (providing ecosystem services and other reserve capacity), and as natural infrastructure (supporting major Federal enterprise programs). The current rubric of 'Environmental Stewardship' provides an unduly constrained management paradigm that is focused largely on compliance process metrics, and lacks a value platform for quantifying, documenting, and sustainably re-deploying re-capitalized natural asset capacity and capability. By adopting value-based system concepts similar to built infrastructure accounting and information management, 'stewarded' natural assets relegated to liability- or compliance-focused outcomes become 're-capitalized' operational assets able to support new or expanded mission. This growing need for new accounting and management paradigms to capture natural capital value is achieving global recognition, most recently by the United Nations, world leaders, and international corporations at the Rio+20 Summit in June of 2012. Natural Capital Asset Management (NCAM){sup TM} is such an accounting framework tool. Using a quantification-based design, NCAM{sup TM} provides inventory, capacity and value data to owners or managers of natural assets such as the DOE that parallel comparable information systems currently used for facility assets. Applied to Environmental Management (EM) and other DOE program

Slipped capital femoral epiphysis: A modern treatment protocol

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Slavković Nemanja

2009-01-01

Full Text Available The treatment of a patient with slipped capital femoral epiphysis begins with an early diagnosis and accurate classification. On the basis of symptom duration, clinical findings and radiographs, slipped capital femoral epiphysis is classified as pre-slip, acute, acute-on-chronic and chronic. The long-term outcome of slipped capital femoral epiphysis is directly related to severity and the presence or absence of avascular necrosis and/or chondrolysis. Therefore, the first priority in the treatment of slipped capital femoral epiphysis is to avoid complications while securing the epiphysis from further slippage. Medical treatment of patients with acute and acute-on-chronic slipped capital femoral epiphysis, as well as those presented in pre-slip stage, is the safest, although time-consuming. Manipulations, especially forced and repeated, are not recommended due to higher avascular necrosis risk. The use of intraoperative fluoroscopy to assist in the placement of internal fixation devices has markedly increased the success of surgical treatment. Controversy remains as to whether the proximal femoral epiphysis in severe, chronic slipped capital femoral epiphysis should be realigned by extracapsular osteotomies or just fixed in situ. The management protocol for slipped capital femoral epiphysis depends on the experience of the surgeon, motivation of the patient and technical facilities.

Adiabatic energization in the ring current and its relation to other source and loss terms

Science.gov (United States)

Liemohn, M. W.; Kozyra, J. U.; Clauer, C. R.; Khazanov, G. V.; Thomsen, M. F.

2002-04-01

The influence of adiabatic energization and deenergization effects, caused by particle drift in radial distance, on ring current growth rates and loss lifetimes is investigated. Growth and loss rates from simulation results of four storms (5 June 1991, 15 May 1997, 19 October 1998, and 25 September 1998) are examined and compared against the y component of the solar wind electric field (Ey,sw). Energy change rates with and without the inclusion of adiabatic energy changes are considered to isolate the influence of this mechanism in governing changes of ring current strength. It is found that the influence of adiabatic drift effects on the energy change rates is very large when energization and deenergization are considered separately as gain and loss mechanisms, often about an order of magnitude larger than all other source or loss terms combined. This is true not only during storm times, when the open drift path configuration of the hot ions dominates the physics of the ring current, but also during quiet times, when the small oscillation in L of the closed trajectories creates a large source and loss of energy each drift orbit. However, the net energy change from adiabatic drift is often smaller than other source and loss processes, especially during quiet times. Energization from adiabatic drift dominates ring current growth only during portions of the main phase of storms. Furthermore, the net-adiabatic energization is often positive, because some particles are lost in the inner magnetosphere before they can adiabatically deenergize. It is shown that the inclusion of only this net-adiabatic drift effect in the total source rate or loss lifetime (depending on the sign of the net-adiabatic energization) best matches the observed source and loss values from empirical Dst predictor methods (that is, for consistency, these values should be compared between the calculation methods). While adiabatic deenergization dominates the loss timescales for all Ey,sw values

THE CAPITAL STRUCTURE OF VENTURE CAPITAL FIRMS IN INDONESIA

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Andi Buchari

2016-10-01

Full Text Available Venture capital (VC is an important fund source for small and medium enterprises (SMEs and start up, particularly to deliver its main product of equity participation. Therefore, capital structure and factors that affect it are very crucial. This study aims to analyze the capital structure of VC firms in Indonesia using econometric model of panel data regression. This study utilizes secondary data of six years period (2009-2014 monthly financial statements of 27 samples out of 58 VC firms to form 1,944 observations. The study reveals that capital structure of VC firms in Indonesia is dominated by debt/loan rather than capital with DER on average is 136.95%. In addition, the research confirms that VC firms’ capital structure is affected simultaneously by financial aspects which are asset size, profitability, liquidity, asset/investment quality, and earning asset structure. The attentions to financial aspects that affect the VC firms’ capital structure as well as other initiatives related to capital increases are necessary so that the VC firms could carry out its role effectively.

A Theoretical Reflection on the Relationship between Nature and Capitalism

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João Valente Aguiar

2012-06-01

Full Text Available The purpose of this article is to recognize the articulation between the natural and contemporary global social sphere, in generic terms, the capitalist mode of production. Based on an analysis of the mechanisms of appropriation of nature by the social engendering of the accumulation of capital, it seeks to identify some of the forms of the contemporary commodification of nature. These commodified expressions of nature are connected to the dynamics of the structural crisis of capitalism. In methodological terms, it emphasizes a perspective of totality in the approach to the object of study, without reducing the empiric substrate to a homogenized entity. Therefore, the interactive process between nature and capitalism finds support in a set of mutual influences, of unequaled mediations of causality and contradictions.

Short-term meal replacements followed by dietary macronutrient restriction enhance weight loss in polycystic ovary syndrome.

Science.gov (United States)

Moran, Lisa J; Noakes, Manny; Clifton, Peter M; Wittert, Gary A; Williams, Gemma; Norman, Robert J

2006-07-01

Polycystic ovary syndrome (PCOS), a common condition in women, improves with weight loss. Meal replacements in short-term weight loss and strategies for weight maintenance have not been investigated in PCOS. We compared in overweight women with PCOS the effects of meal replacements in short-term weight-loss and longer-term carbohydrate- or fat-restriction strategies on weight maintenance and improvements in reproductive and metabolic variables. Overweight women with PCOS (n = 43; x +/- SD age: 32.1 +/- 5.2 y; weight: 96.1 +/- 18.4 kg) followed an 8-wk weight-loss regimen (2 meal replacements/d, 4904.4 +/- 127 kJ; phase 1) and then a 6-mo weight-maintenance carbohydrate- (weight (5.6 +/- 2.4 kg), waist circumference (6.1 +/- 2.5 cm), body fat (4.1 +/- 2.2 kg), insulin (2.8 +/- 1.1 mU/L), total testosterone (0.3 +/- 0.7 nmol/L), and free androgen index (3.1 +/- 4.6) occurred; these changes were sustained during phase 2. No significant differences between diet groups were seen for any variables. At 6 mo, both approaches resulted in a net weight loss of 4.7 +/- 4.6 kg. Improvements in menstrual cyclicity occurred for 16 (57.1%) of 28 subjects. Meal replacements are an effective strategy for the short-term management of PCOS. Advice on moderate fat or carbohydrate restriction was equally effective in maintaining weight reduction and improving reproductive and metabolic variables.

Tropical cyclone losses in the USA and the impact of climate change - A trend analysis based on data from a new approach to adjusting storm losses

International Nuclear Information System (INIS)

Schmidt, Silvio; Kemfert, Claudia; Hoeppe, Peter

2009-01-01

Economic losses caused by tropical cyclones have increased dramatically. Historical changes in losses are a result of meteorological factors (changes in the incidence of severe cyclones, whether due to natural climate variability or as a result of human activity) and socio-economic factors (increased prosperity and a greater tendency for people to settle in exposed areas). This paper aims to isolate the socio-economic effects and ascertain the potential impact of climate change on this trend. Storm losses for the period 1950-2005 have been adjusted to the value of capital stock in 2005 so that any remaining trend cannot be ascribed to socio-economic developments. For this, we introduce a new approach to adjusting losses based on the change in capital stock at risk. Storm losses are mainly determined by the intensity of the storm and the material assets, such as property and infrastructure, located in the region affected. We therefore adjust the losses to exclude increases in the capital stock of the affected region. No trend is found for the period 1950-2005 as a whole. In the period 1971-2005, since the beginning of a trend towards increased intense cyclone activity, losses excluding socio-economic effects show an annual increase of 4% per annum. This increase must therefore be at least due to the impact of natural climate variability but, more likely than not, also due to anthropogenic forcings.

Characteristics and drivers of venture capital investment activity in Romania

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Mihaela DIACONU

2012-07-01

Full Text Available The present paper aims at characterising the venture capital market and identifying factors affecting the venture capital investments activity in Romania in the period 2000-2010. With a view to assessing the intensity of manifestation of various factors on the supply and demand of venture capital we use an econometric model of macroeconomic variables already tested in the literature. We consider, however, that we bring contributions to the approach, by analysing the features of the venture capital market in Romania and impact factors, our work being, at the same time, support in assessing the types of decisions to be adopted by policymakers to the formation of an authentic market and stimulating innovation. Our results indicate that the total R&D intensity is the main determinant of the venture capitals invested in this period in the two phases (for early stages and expansion. A significant incidence, mainly on the supply side, also shows the annual long term real interest rate, while the market capitalisation, the effective marginal tax rate on corporate income, the annual inflation or unemployment rate do not impact on the venture capital. Our recommendations, in terms of formation and development of the venture capital market, look as a priority, strengthening the demand for resources, respectively encouraging of enterprises to innovate, creating of conditions for the supply to be manifested in the seed and start-up stages and the compatibilization of the need for resources with prudential rules by adapting regulations for institutional investors.

Analyzing Equity Capital Programs of Banks for Cooperatives

OpenAIRE

Ismail Ahmad; Ken D. Duft; Ron C. Mittelhammer

1986-01-01

Characteristics of Banks for Cooperatives term loan and equity capital programs contribute toward complex intermittent exchanges of positive and negative cash flows between the cooperative lender and borrower and complicate the analysis of the net present value and effective interest of the financing project. A multiperiod linear program was developed to analyze the effect of variations in equity capital program components on the present value of the financing project. Furthermore, the concep...

Measuring the value of groundwater and other forms of natural capital

Science.gov (United States)

Fenichel, Eli P.; Abbott, Joshua K.; Bayham, Jude; Boone, Whitney; Haacker, Erin M. K.; Pfeiffer, Lisa

2016-01-01

Valuing natural capital is fundamental to measuring sustainability. The United Nations Environment Programme, World Bank, and other agencies have called for inclusion of the value of natural capital in sustainability metrics, such as inclusive wealth. Much has been written about the importance of natural capital, but consistent, rigorous valuation approaches compatible with the pricing of traditional forms of capital have remained elusive. We present a guiding quantitative framework enabling natural capital valuation that is fully consistent with capital theory, accounts for biophysical and economic feedbacks, and can guide interdisciplinary efforts to measure sustainability. We illustrate this framework with an application to groundwater in the Kansas High Plains Aquifer, a rapidly depleting asset supporting significant food production. We develop a 10-y time series (1996−2005) of natural capital asset prices that accounts for technological, institutional, and physical changes. Kansas lost approximately $110 million per year (2005 US dollars) of capital value through groundwater withdrawal and changes in aquifer management during the decade spanning 1996–2005. This annual loss in wealth is approximately equal to the state’s 2005 budget surplus, and is substantially more than investments in schools over this period. Furthermore, real investment in agricultural capital also declined over this period. Although Kansas’ depletion of water wealth is substantial, it may be tractably managed through careful groundwater management and compensating investments in other natural and traditional assets. Measurement of natural capital value is required to inform management and ongoing investments in natural assets. PMID:26858431

Natural Capital, Domestic Product and Proximate Causes of Economic Growth: Uruguay in the Long Run, 1870–2014

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Silvana Sandonato

2018-03-01

Full Text Available The debate on the relationship between natural resources abundance and economic growth is still open. Our contribution to this field combines a long-run perspective (1870–2014 with the study of a peripheral country in the world economy (Uruguay. The purpose is to build a historical series of natural capital and contrast its level and evolution with the level and growth of GDP, as well as the proximate causes of its economic growth (produced and human capital, exports and terms of trade. We show that natural capital has tended to decline in importance in the economy, while simultaneously becoming more diversified. Although this evolution is consistent in historical terms, we do not find a causal relationship between the abundance of natural resources and economic performance. Instead of a direct relationship, the proximate causes appear to have been important in explaining the evolution of natural capital when we consider three stages of economic growth: physical capital and terms of trade during the agro-exporter model; human capital and exports during the period of import substitution industrialization; and terms of trade from the 1970s afterwards. These factors cause natural capital but not the other way around, leading us to conclude that an abundance of natural capital is an endogenous process.

Economic growth and intangible capitals: Europe versus Asia

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Navarro José-Luis Alfaro

2014-01-01

Full Text Available At present, the international growth model includes important restrictions about the consideration of GDP as a unique tool for measurement. In this sense, taking into consideration the wealth of a country, we must add intangibles such as human development, country image, employment conditions, environmental, innovation, public sector efficiency, and synergies to the variable production, which is defined as national intellectual capital. In this paper, we use a mathematical model of intellectual capital to determine, in monetary terms, the intangible elements that have a greater impact on long-term economic development in European and Asian countries. We have the main limitation of available information and we provide objective results using statistical method. By identifying these components, countries will be able to redirect their policies toward achieving sustainable long-term growth. The results show that the long-term growth of both continents are strongly dependent on the skills of their human resources, but register differences in structural factors such as trade, innovation, or environment.

Thin Capitalization Rules and Multinational Firm Capital Structure

NARCIS (Netherlands)

Blouin, J.; Huizinga, H.P.; Laeven, L.; Nicodeme, G.

2014-01-01

Abstract: This paper examines the impact of thin capitalization rules that limit the tax deductibility of interest on the capital structure of the foreign affiliates of US multinationals. We construct a new data set on thin capitalization rules in 54 countries for the period 1982-2004. Using

On the capitalization and cultivation of social capital

DEFF Research Database (Denmark)

Waldstrøm, Christian; Svendsen, Gunnar Lind Haase

2008-01-01

a dual focus on social capital as both immediately and potentially productive resources, i.e. assets that can be immediately capitalized by individuals as well as ‘cultivated' for future use. We argue that to further operationalize this concept we must distinguish between actual/potential social capital...

Consumption as investment: The theory of human capital and human capital as ethos

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Osvaldo Javier López-Ruiz

2009-12-01

Full Text Available This paper discusses the dilution of the conceptual border between “consumption” and “investment.” We argue that it is a key element for the understanding of capitalism in its current stage and the values guiding contemporary society. Some concepts created by Human Capital Theory – an economic theory from the 1960s – are widely viewed today as values that guide the behavior of individuals. This yields to a conceptual–axiological shift from consumption to investment that allows unusual forms of “delaying satisfaction by consuming now.” The diffuse area that is created between “consumption” and “investment” helps to understand how the Protestant work ethic is recreated as an “ethic of entrepreneurial work,” that is, of work understood in terms of “individual enterprise”.

FROM SOCIAL CAPITAL TO FIRMS NETWORKS: SOME EVIDENCE FOR EUROPE

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perrucci antonella

2012-12-01

Full Text Available The concept of development is not only referred to the level or to the growth rate of GDP of a country, but it concerns different aspects of individual and social life. Development leads to a changing of values, culture, behaviours and attitudes of people interested in it. That is to say that not only quantitative dimensions, but also qualitative ones became relevant in fostering development trajectories. Reasoning in these general terms a long and rich intellectual debate grow up in social sciences within which we focused the social capital and firm network debate. Social capital is a multidimensional determinant at base of the industrial district framework as the “network capital” represent a driver of firm’s network framework. By moving from social capital, as a local development driver, to network capital, as a global development driver, the present paper analyzes the firms’ networks determinants by identifying the conditions for some European countries. The methodology through which the results are obtained is the multidimensional scaling method which allows to define relations between countries in terms of proximity/distance with respect to the considered determinants providing a spatial representation of them.

Capital mobility, tax competition, and lobbying for redistributive capital taxation

OpenAIRE

Lorz, Jens Oliver

1996-01-01

This paper analyzes the impact of international capital mobility on redistributive capital taxation and on lobbying activities by interest groups. It employs a model where different capital endowments lead to a conflict between households concerning their most preferred capital tax rate. Three main results are derived: First, redistributive source based capital taxes or subsidies decline as international tax competition intensifies. Second, lobbying activities of certain interest groups may e...

The Institutional Paradigm of Human Capital Development

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Kolomiiets Viktoriia М.

2018-03-01

Full Text Available The formation of the modern conception of human capital is connected with the development of post-industrial information society, knowledge economy and digital economy. The main role in analyzing of the content and role of human capital can play a new institutional economic theory. It is determined that the methodology of research of paradigm change in economic science remains the subject of discussion. The conception of institutional paradigm of human capital development can be attributed to the new economy, the development of which is carried out on the condition that the employee is not always alienated from the relationships of ownership: he himself becomes the owner of the «new» economic resources. The factors of education along with the factors of health care which are determining in the development of human capital are researched. Special attention is paid to education, as it acts as an intellectual capital of the new economy, where knowledge and skills become the «intellectual 5D printer», producing the modern human capital. The transition to a new, post-industrial economy is characterized by a major long-term tendency: the progress of knowledge and the increasing complexity of the socio-economic life; created by powerful factors of information and computer technologies and leading to expansion of global economic space.

Globalization, capital market and economic development in Nigeria

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Olanrewaju Adewole Adediran

2015-01-01

Full Text Available This article examines the economic integration caused by globalization and effect of capital market in Nigeria context. It establishes the type of relationship and level of significance of globalization and capital market on the economic development. Globalization concept is framed as import plus export divided by growth ratio. The capital market was determined in terms of proxy (by GDP by price index. The growth ratio assessed the level of development using econometric model. The results suggest that sound economic reform and financial policies are necessary to achieve sustainable development in Nigeria. However, there is need to increase exports, reduce imports and control exchange rate for Nigeria to achieve sustainable economic development.

Modeling of Zakat in the capital structure theory | Sanusi | Journal of ...

African Journals Online (AJOL)

Islamic financial instruments are subject to taxes and zakat for Muslim shareholders and debt holders. Therefore, it is important to investigate the implementation of corporate taxes and corporate zakat in capital structure compositions. In order to model corporate zakat in terms of conventional capital structure theories, this ...

Seeding Social Capital? Urban Community Gardening and Social Capital

DEFF Research Database (Denmark)

Christensen, Søren

2017-01-01

There is a continuing debate regarding urban community gardening’s benefits to local communities, and a particularly interesting branch of this debate has focused on community gardens capacity to encourage and facilitate social interaction, which may generate social capital. Social capital...... is an increasingly important concept in international research and measures of social capital have been associated with various measures of health. In a meta-analysis of literature published between 2000 and 2016 regarding community gardens’ social advantages, through the lens of the concept of social capital......, it is demonstrated that several studies substantiate that urban community gardens create social capital, both bonding and bridging, and exhibit indications of linking. It is moreover identified how there is much to be learned from future research, illuminating how urban community gardens can foster social capital...

Bridges in social capital: a review of the definitions and the social capital of social capital researchers

OpenAIRE

Akcomak, S.

2009-01-01

There has been a recent surge of interest in social economics and social capital. Articles on social capital that are published in the last five years constitute more than 60 percent of all articles on social capital. Research on social capital is now massive and spans sociology, economics, management, political science and health sciences. Despite this interest there is still not a consensus on the definition and the measurement of social capital. This paper argues that this is due to lack o...

Higher Education, Human Capital, and Regional Dynamics in Southern Europe

DEFF Research Database (Denmark)

Biscaia, Ricardo; Teixeira, Pedro N.; Rocha, Vera

2017-01-01

studies. We discuss the role of human capital in the framework of growth convergence theories and the issue of human capital migration as a potential factor influencing regional disparities in Europe. Then we focus on an important component of human capital formation—the role of higher education...... relevance of human capital for economic growth was also associated with the role of technology and its impact in enhancing the demand for more and better qualified workers. However, the capacity of societies to take advantage of those investments has been found to be more complex and uncertain than......Although the term “human capital” has remote historical roots, being already widespread in the writings of the founding fathers of economic analysis, it was during the second half of the twentieth century that an increasing debate around human capital emerged among scholars. The increasing...

The theory of forest capital reproduction in terms of the lease

Directory of Open Access Journals (Sweden)

Nikolay Mikhaylovich Bol'shakov

2011-09-01

Full Text Available The subject of given article is the problem of forest capital renewal within a cost estimation concept which is considered from the perspective of multifunctional model of forest utilization under lease relations. Theoretical framework for development of a financing mechanism is given with regard to reforestation organized on a market base.

Short-Term Memory Loss Over Time Without Retroactive Stimulus Interference

OpenAIRE

Cowan, Nelson; AuBuchon, Angela M.

2008-01-01

A key question in cognitive psychology is whether information in short-term memory is lost as a function of time. Lewandowsky, Duncan, and Brown (2004) argued against that memory loss because forgetting in serial recall occurred to the same extent across serial positions regardless of the rate of recall. However, we believe Lewandowsky et al. only prevented one of two types of rehearsal; they did not prevent non-articulatory rehearsal via attention. To prevent articulatory and non-articulator...

Confucianism Ethic and the Spirit of Capitalism

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Usman Usman

2016-08-01

Full Text Available This article tries to explore the fundamental values of Confucianism ethics and its influence to the emergence of Capitalism. By using Weber's thesis on the relationship between Protestant ethics and the spirit of capitalism, this paper concludes that the three important values of Confucianism Ethics (ren: benevolence, humaneness, li: rightness, righteousness, and fittingness, and yi: rules of proper conduct, ritual, and rites are proposing people on how to become good human beings. If the Confucian follows these ethics properly, he/she will get the successful life. Although it is not guaranteed but the Confucianism ethics are still relevant to be practiced in contemporary situation. Some research findings recently showed that Confucianism ethics have really influence people to fulfill the "calling" (Weber's term and it has also power to increase the spirit of capitalism. The rise of Japan, China, and the four little dragons (including South Korea, Taiwan, Hong Kong, and Singapore is related to the development of Confucianism, and it directly brings down Weber's view point, which taught that Confucianism did not have the spirit of capitalism.

Derivatives and Global Capital Flows: Applications to Asia

OpenAIRE

J. A. Kregel

1998-01-01

There are four factors involved in the current financial crisis in Asia that have caused surprise. Since the Latin American debt crisis was thought to have been aggravated by the dominance of syndicated private bank lending, borrowers were encouraged to increase private direct investment flows. The stability of capital flows to Asia was used as an example. Yet, the Asian crisis appears to have been precipitated by the reversal of short-term private bank lending. Second, the flows of capital t...

Private capital investments in health care provision through mergers and acquisitions: from long-term to acute care.

Science.gov (United States)

Angeli, Federica; Maarse, Hans

2016-10-01

This work aims to test whether different segments of healthcare provision differentially attract private capital and thus offer heterogeneous opportunities for private investors' diversification strategies. Thomson Reuter's SDC Platinum database provided data on 2563 merger and acquisition (M&A) deals targeting healthcare providers in Western Europe between 1990 and 2010. Longitudinal trends of industrial and geographical characteristics of M&As' targets and acquirers are examined. Our analyses highlight: (i) a relative decrease of long-term care facilities as targets of M&As, replaced by an increasing prominence of general hospitals, (ii) a shrinking share of long-term care facilities as targets of financial service organizations' acquisitions, in favor of general hospitals, and (iii) an absolute and relative decrease of long-term care facilities' role as target of cross-border M&As. We explain the decreasing interest of private investors towards long-term care facilities along three lines of reasoning, which take into account the saturation of the long-term care market and the liberalization of acute care provision across Western European countries, regulatory interventions aimed at reducing private ownership to ensure resident outcomes and new cultural developments in favor of small-sized facilities, which strengthen the fragmentation of the sector. These findings advance the literature investigating the effect of private ownership on health outcomes in long-term facilities. Market, policy and cultural forces have emerged over two decades to jointly regulate the presence of privately owned, large-sized long-term care providers, seemingly contributing to safeguard residents' well-being. Copyright © 2016 John Wiley & Sons, Ltd. Copyright © 2016 John Wiley & Sons, Ltd.

The Impact of Capital Structure on Economic Capital and Risk Adjusted Performance

OpenAIRE

Porteous, Bruce; Tapadar, Pradip

2008-01-01

The impact that capital structure and capital asset allocation have on financial services firm economic capital and risk adjusted performance is considered. A stochastic modelling approach is used in conjunction with banking and insurance examples. It is demonstrated that gearing up Tier 1 capital with Tier 2 capital can be in the interests of bank Tier 1 capital providers, but may not always be so for insurance Tier 1 capital providers. It is also shown that, by allocating a bank or insuranc...

THE EVALUATION OF WORKING CAPITAL IN AIRLINE COMPANIES WHICH PROCEED IN BIST

Directory of Open Access Journals (Sweden)

Selcuk Kendirli

2016-03-01

Full Text Available The working capital like cash and liquid assets runs the facilities and supports daily activities of firms. This kind of capital is essential to continuity of activities, increase of volume, maintain credibility, reduce impacts of risks and to overcome with extraordinary situation. The working capital management is very important for making profits from activities, especially for dynamic sectors like aviation. The aviation industry which airline companies operate is a very dynamic sector. In this sector working capital has to be managed very professionally and carefully by airline companies. This study aims to assess the airline companies’ working capital in terms of effectiveness. Airline companies which shares traded on BIST will be sample of this study.

The contribution of public capital towards economic growth: A KwaZulu-Natal case study

Directory of Open Access Journals (Sweden)

Clive E. Coetzee

2017-04-01

Aim: The way provincial or regional growth depends on infrastructure is investigated in this article and it is applied to data from KwaZulu-Natal province, as an illustration. Setting: This study investigates the extent to which infrastructure in KwaZulu-Natal province in South Africa leads towards economic growth of the province. Methods: From a theoretical framework, this article develops an endogenous growth model, which investigates the association between provincial public capital stock expenditure and economic growth. Data series for public capital formation are first developed to apply in this study and others to follow. Econometric techniques are then employed, using quarterly data between 2001 and 2015, to assess the set hypothesis that growth in expenditure on public capital leads to national economic growth. Results: The empirical results support the argument of a positive relationship between provincial capital stock and economic growth in the long-term. The findings also suggests that the long-term causality or effect fades over time, albeit slowly. Conclusion: The nature and statistical significance of the long-term equilibrium relationship seems to be ambiguous at best. Some evidence of an equilibrium relationship in the short-term was, however, also observed. In conclusion, there also seems to be some causality between provincial capital stock and provincial gross domestic product in the short-run.

Capital adequacy of the banking industry in Indonesia

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Sri Murtiyanti

2015-10-01

Full Text Available This study analyzes the relationship between credit risk and profitability on the capital adequacy ratio (CAR of commercial banks in Indonesia. The empirical model result shows that credit risk and profitability performance altogether significantly influence the capital adequacy ratio (CAR. Partially, the variables that significantly influence the CAR are the characteristics and complexity of the bank group. This study also suggests that the pace towards the long-term balance is, in general, less than one year. Capital ratio in the banking industry is 8%, indicating the bank has set aside to anticipate the impact of external factors as well as to comply with Bank Indonesia Regulation Number 15/12/PBI/2013.

Intellectual capital and financial performance: A study of the Turkish Banking Sector

Directory of Open Access Journals (Sweden)

Nasif Ozkan

2017-09-01

Full Text Available The purpose of this study is to analyze the relationship between the intellectual capital performance and financial performance of 44 banks operating in Turkey between 2005 and 2014. The intellectual capital performance of banks is measured through the value added intellectual coefficient (VAIC methodology. The intellectual capital performance of the Turkish banking sector is generally affected by human capital efficiency (HCE. In terms of bank types, development and investment banks have the highest average VAIC. When VAIC is divided into its components, it can be observed that capital employed efficiency (CEE and human capital efficiency (HCE positively affect the financial performance of banks. However, CEE has more influence on the financial performance of banks compared to HCE. Therefore, banks operating in the Turkish banking sector should use their financial and physical capitals if they wish to reach a higher profitability level.

Investigating the Status of Social Capital in Tehran in 2008

Directory of Open Access Journals (Sweden)

yahya shadi

2016-02-01

Full Text Available Abstract Introduction: Today, the role of social capital has been proved to be undeniable in the health . The World Health Organization (WHO in 2000 declared that almost 60% of the causes of disease and mortality were related to the social factors. Therefore, this study aimed to investigate the status of social capital as one of the social determinants of health in Tehran, capital of Iran. Methods:   The study participants, who aged over 18 years, lived in 22 districts of Tehran in 2010. The study data were collected on social capital and socioeconomic variables in Iran. Different dimensions of social capital as well as the mean score of social capital was measured in various groups using the SC-IQ. The study data were analyzed using Stata statistical software: release 13.0. Results: In this study, 2.484 participants were selected via multistage random sampling. The mean age of participants was 41.38±17.7, and the mean score of social capital was slightly more in men (31.18 than women (30.41. Social capital was demonstrated to be lower within poor participants than other groups. In terms of marital status, the divorced had the lowest social capital (26.50. The mean social capital in those with university education was higher compared to individuals with other levels of education. Conclusion: Social capital is regarded as one of the factors affecting health. To promote the level of this valuable capital, the factors affecting the  social capital level should be identified and all appropriate measures should be taken into account in order to ultimately enhance the level of public health.

INDIAN CAPITAL MARKET REVIEW: ISSUES, DIMENSIONS AND PERFORMANCE ANALYSIS

Directory of Open Access Journals (Sweden)

Mohd. Shamim Ansari

2012-12-01

Full Text Available The purpose of an efficient capital market is to mobilize funds from those who have it and route each them to those who can utilize it in the best possible way. India’s financial market is multi-facet but not balanced. It has state of art equity market but relatively less developed and immature corporate bond market. The Indian capital market in the recent year has undergone a lot of innovation in term regulation and mode of operation. A well developed corporate bond market is also essential for financial system stability, efficiency and overall economic growth. However, If we look at the scenario of capital market in India we find that Indian households have traditionally preferred parking their surpluses in bank deposits, government savings schemes and less than 10% of their investments in financial assets in shares, debentures and mutual funds. The Indian capital market has recently put the worst behind and moved towards strong growth. In this back drop the present paper aims to (i identify various grey points of Indian capital market; (ii Evaluated how it performed during post financial crisis period; and (iii suggests necessary policy reforms for a relatively mature capital market.

Human Capital and Optimal Positive Taxation of Capital Income

NARCIS (Netherlands)

B. Jacobs (Bas); A.L. Bovenberg (Lans)

2005-01-01

textabstractThis paper analyzes optimal linear taxes on capital and labor incomes in a life-cycle model of human capital investment, financial savings, and labor supply with heteroge- nous individuals. A dual income tax with a positive marginal tax rate on not only labor income but also capital

Novel point estimation from a semiparametric ratio estimator (SPRE): long-term health outcomes from short-term linear data, with application to weight loss in obesity.

Science.gov (United States)

Weissman-Miller, Deborah

2013-11-02

Point estimation is particularly important in predicting weight loss in individuals or small groups. In this analysis, a new health response function is based on a model of human response over time to estimate long-term health outcomes from a change point in short-term linear regression. This important estimation capability is addressed for small groups and single-subject designs in pilot studies for clinical trials, medical and therapeutic clinical practice. These estimations are based on a change point given by parameters derived from short-term participant data in ordinary least squares (OLS) regression. The development of the change point in initial OLS data and the point estimations are given in a new semiparametric ratio estimator (SPRE) model. The new response function is taken as a ratio of two-parameter Weibull distributions times a prior outcome value that steps estimated outcomes forward in time, where the shape and scale parameters are estimated at the change point. The Weibull distributions used in this ratio are derived from a Kelvin model in mechanics taken here to represent human beings. A distinct feature of the SPRE model in this article is that initial treatment response for a small group or a single subject is reflected in long-term response to treatment. This model is applied to weight loss in obesity in a secondary analysis of data from a classic weight loss study, which has been selected due to the dramatic increase in obesity in the United States over the past 20 years. A very small relative error of estimated to test data is shown for obesity treatment with the weight loss medication phentermine or placebo for the test dataset. An application of SPRE in clinical medicine or occupational therapy is to estimate long-term weight loss for a single subject or a small group near the beginning of treatment.

Assessment of Social Capital in terms of Participation, Knowledge, Trust, and Social Cohesion: Zahedan Case Study

Directory of Open Access Journals (Sweden)

Maryam Karimian Bostani

2017-02-01

Full Text Available It is anticipated that the urban population in developing countries increases more than double from 2000 to 2030. This rapid population transformation to cities will be difficult. Therefore, the municipal administration will be involved in numerous challenges in cities. For this purpose, social capital as a bottom-up planning is one of the appropriate ways of management and dealing with these challenges. The aim of this study was to measure the social capital in four aspects of knowledge, participation, social cohesion, and trust in Zahedan. The research method of this research is descriptive-analytic in an applied type. Library studies and surveying (questionnaire were used to collect the required data. The questions in this survey were designed based on four indicators of social capital. The statistical population of the present study is 575,116 people residing in Zahedan in 2011. One sample T- test was used for calculations. The results of the analysis show that the social capital criteria in the city of Zahedan are undesirable in all four criteria.

Twenty years of social capital and health research: a glossary.

Science.gov (United States)

Moore, S; Kawachi, I

2017-05-01

Research on social capital in public health is approaching its 20th anniversary. Over this period, there have been rich and productive debates on the definition, measurement and importance of social capital for public health research and practice. As a result, the concepts and measures characterising social capital and health research have also evolved, often drawing from research in the social, political and behavioural sciences. The multidisciplinary adaptation of social capital-related concepts to study health has made it challenging for researchers to reach consensus on a common theoretical approach. This glossary thus aims to provide a general overview without recommending any particular approach. Based on our knowledge and research on social capital and health, we have selected key concepts and terms that have gained prominence over the last decade and complement an earlier glossary on social capital and health. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://www.bmj.com/company/products-services/rights-and-licensing/.

Systematic Review of the Mediterranean Diet for Long-Term Weight Loss.

Science.gov (United States)

Mancini, Joseph G; Filion, Kristian B; Atallah, Renée; Eisenberg, Mark J

2016-04-01

Although the long-term health benefits of the Mediterranean diet are well established, its efficacy for weight loss at ≥12 months in overweight or obese individuals is unclear. We therefore conducted a systematic review of randomized controlled trials (RCTs) to determine the effect of the Mediterranean diet on weight loss and cardiovascular risk factor levels after ≥12 months. We systematically searched MEDLINE, EMBASE, and the Cochrane Library of Clinical Trials for RCTs published in English or French and with follow-up ≥12 months that examined the effect of the Mediterranean diet on weight loss and cardiovascular risk factor levels in overweight or obese individuals trying to lose weight. Five RCTs (n = 998) met our inclusion criteria. Trials compared the Mediterranean diet to a low-fat diet (4 treatment arms), a low-carbohydrate diet (2 treatment arms), and the American Diabetes Association diet (1 treatment arm). The Mediterranean diet resulted in greater weight loss than the low-fat diet at ≥12 months (range of mean values: -4.1 to -10.1 kg vs 2.9 to -5.0 kg), but produced similar weight loss as other comparator diets (range of mean values: -4.1 to -10.1 kg vs -4.7 to -7.7 kg). Moreover, the Mediterranean diet was generally similar to comparator diets at improving other cardiovascular risk factor levels, including blood pressure and lipid levels. Our findings suggest that the Mediterranean diet results in similar weight loss and cardiovascular risk factor level reduction as comparator diets in overweight or obese individuals trying to lose weight. Copyright © 2016 Elsevier Inc. All rights reserved.

14 CFR 331.7 - What losses will be reimbursed?

Science.gov (United States)

2010-01-01

... PROVIDERS IN THE WASHINGTON, DC AREA General Provisions § 331.7 What losses will be reimbursed? (a) You may... which you are or were an operator or provider not been closed as the result of Federal government...-recurring, or unusual adjustments, and capital losses are normally ineligible for reimbursement. If you wish...

Human Capital - A Quality Factor For The Competitiveness Of IT Companies

Directory of Open Access Journals (Sweden)

Elisei Crăciun

2015-05-01

Full Text Available This paper treats quality, human capital and competitiveness concepts in order to determine in which measure the Human Capital quality influences the competitiveness of a firm. The human capital theory is a relatively new approach, the first valuable approach being that of Garry Becker which, subsequent of the modern management theoretical views, puts human capital into scientific frame. This present paper relates deeply on this theoretical frame as it is considered that, besides financial or tangible resources that allows and generate long term benefits for an enterprise, there is also another source that consists in an intangible form: the human capital. This resource is based on education and health, indirectly generating additional benefits for the individual as for the organization and is calculated as instruction, education and health insurances costs. That implies that this capital is an asset for the worker itself and that the worker cannot be distinguished from the knowledges, capacities, his health or his values. From this perspective, the worker is actively present in any activity a firm operates: from defining and executing process, operational planning, monitoring and control, research and development, human resources, etc. The hypothesis of this present paper will be explored with the examples of Jeff Bezos ( Amazon or Steve Jobs ( Apple as human capital is considered to be the most important component for the competitive advantage of IT enterprises. The quality level of the human capital represents the main source for long term sustainability of this competitive advantage and, given the best case practices, it’s impact on firm’s effect indicators is obvious. The paper will also emphasize the role of values and health as they are also the main issues on an IT enterprise. The article is structured in two parts. One is the theoretical frame that encompass the influence of the human capital on the competitiveness of the firm. The

From political capitalism to clientelist capitalism? The case of Croatia

OpenAIRE

Vladimir Cvijanovic; Denis Redzepagic

2011-01-01

The paper analyses the typology of capitalism in Croatia. The Croatian form of capitalism is specific, in form and origin, with links between the pre-independence and post-independence periods, implying that capitalism has gradually evolved – from the political during the eighties towards current clientelistic capitalism. The manufacturing focus aims to facilitate the analysis of institutional, political and economic changes over the past forty years, emphasising the implications of instituti...

Complexity-Based Modeling of Scientific Capital: An Outline of Mathematical Theory

Directory of Open Access Journals (Sweden)

Yurij L. Katchanov

2014-01-01

measuring and assessing the accumulated recognition and the specific scientific power. The concept of scientific capital developed by Bourdieu is used in international social science research to explain a set of scholarly properties and practices. Mathematical modeling is applied as a lens through which the scientific capital is addressed. The principal contribution of this paper is an axiomatic characterization of scientific capital in terms of natural axioms. The application of the axiomatic method to scientific capital reveals novel insights into problem still not covered by mathematical modeling. Proposed model embraces the interrelations between separate sociological variables, providing a unified sociological view of science. Suggested microvariational principle is based upon postulate, which affirms that (under suitable conditions the observed state of the agent in scientific field maximizes scientific capital. Its value can be roughly imagined as a volume of social differences. According to the considered macrovariational principle, the actual state of scientific field makes so-called energy functional (which is associated with the distribution of scientific capital minimal.

Limited influence of climate change mitigation on short-term glacier mass loss

Science.gov (United States)

Marzeion, Ben; Kaser, Georg; Maussion, Fabien; Champollion, Nicolas

2018-04-01

Glacier mass loss is a key contributor to sea-level change1,2, slope instability in high-mountain regions3,4 and the changing seasonality and volume of river flow5-7. Understanding the causes, mechanisms and time scales of glacier change is therefore paramount to identifying successful strategies for mitigation and adaptation. Here, we use temperature and precipitation fields from the Coupled Model Intercomparison Project Phase 5 output to force a glacier evolution model, quantifying mass responses to future climatic change. We find that contemporary glacier mass is in disequilibrium with the current climate, and 36 ± 8% mass loss is already committed in response to past greenhouse gas emissions. Consequently, mitigating future emissions will have only very limited influence on glacier mass change in the twenty-first century. No significant differences between 1.5 and 2 K warming scenarios are detectable in the sea-level contribution of glaciers accumulated within the twenty-first century. In the long-term, however, mitigation will exert strong control, suggesting that ambitious measures are necessary for the long-term preservation of glaciers.

Human Capital in Republican and New China: Regional and Long-Term Trends

NARCIS (Netherlands)

van Leeuwen, B.; van Leeuwen-Li, J.; Foldvari, P.

2017-01-01

In recent decades it has been debated whether China’s growth performance is primarily driven by capital accumulation (more inputs) or rather by an increase in Total Factor Productivity (TFP) growth (better technology and institutions). The answer to this question may offer a glimpse into the future

78 FR 55339 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

Science.gov (United States)

2013-09-10

... countercyclical capital buffer was designed to take into account the macro-financial environment in which large... ability to raise capital to meet the increased minimum requirements in the current environment and upon...

Prediction of loss to follow-up in long-term supportive periodontal therapy in patients with chronic periodontitis.

Directory of Open Access Journals (Sweden)

Di Wu

Full Text Available This study examined the predictors of loss to follow-up in long-term supportive periodontal therapy in patients with chronic periodontitis.A total of 280 patients with moderate to severe chronic periodontitis in a tertiary care hospital in China were investigated and followed over the course of study. Questionnaires on clinical and demographic characteristics, self-efficacy for oral self-care and dental fear at baseline were completed. Participants were followed to determine whether they could adhere to long-term supportive periodontal therapy. Binary logistic regression analysis was used to examine the association between clinical and demographic characteristics, self-efficacy for oral self-care, dental fear and loss to follow-up in long-term supportive periodontal therapy.The loss to follow-up in long-term supportive periodontal therapy was significantly associated with age [adjusted OR = 1.042, 95% confidence interval (CI: 1.012-1.074, p = 0.006], severe periodontitis [adjusted OR = 4.892, 95%CI: 2.280-10.499, p<0.001], periodontal surgery [adjusted OR = 11.334, 95% CI: 2.235-57.472, p = 0.003], and middle and low-scoring of self-efficacy scale for self-care groups. The adjusted ORs of loss to follow-up for the middle- (54-59 and low-scoring groups (15-53 were 71.899 (95%CI: 23.926-216.062, p<0.001 and 4.800 (95% CI: 2.263-10.182, p<0.001, respectively, compared with the high-scoring SESS group (60-75.Age, severity of periodontitis, periodontal surgery and the level of self-efficacy for self-care may be effective predictors of loss to follow-up in long-term supportive periodontal therapy in patients with chronic periodontitis.

Barriers to and facilitators of long term weight loss maintenance in adult UK people: A thematic analysis

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Himanshu Gupta

2014-01-01

Full Text Available Adult obesity and overweight is affecting every region of the world and is described as one of today′s most significant and neglected public health problems. The problem has taken the shape of an epidemic not only because the prevalence of obesity has witnessed a dramatic progress in a short period of time, but also because obesity has paved the way for increased risks for morbidity and mortality associated with it. It has been predicted that about half of the adult men and more than a quarter of adult women would be obese by 2030 in the UK and this figure could rise up to 50% in 2050 for whole of the adult UK population. Although a modest 5-10% weight loss maintained in the long term can significantly decrease health risk, few people engage in weight loss activities. Against this background, this review paper aims to investigate the reasons helping and/or hindering adults in the UK maintain weight loss in the long term; using online and organizational data sources and thematically analyzing the data. Self-body perception, enhanced self-confidence, social support, self-motivation, incentives and rewards, increased physical activity levels and healthy eating habits facilitated people in maintaining weight loss in the long term and overall quality of life. Extreme weather conditions, natural phenomena such as accidents, injuries and ill-health, work commitments, inability for time management and to resist the temptation for food constrained the successful long-term weight loss maintenance.

Credit Unions and Capital Adequacy: Managing Growth and Risk

Directory of Open Access Journals (Sweden)

R. Raymond Sant PhD, CFA, CMA

2013-07-01

Full Text Available In this paper we argue that a financial institution needs to continuously monitor and assess its risk exposure in the context of capital requirements and available growth opportunities. Judicious management of the interaction between these three elements is crucial to the long term survival and growth of such an institution. We highlight different approaches to risk analysis, beyond stress testing, such as, Value at Risk and Monte Carlo simulation. We recommend that the board of directors establish a sub-committee of its directors to oversee risk management and capital control functions, and to monitor a credit union’s asset liability management activities on an ongoing basis. Efforts should also be made to increase the level of internal expertise regarding risk management and analysis with the full participation of the board, a function that should not be outsourced. In an increasingly regulated financial industry environment it is imperative that a financial institution seeks out growth opportunities while maintaining the balance between capital and risk exposure for long-term business continuity.

Managers’ perceptions of intellectual capital: An empirical study in the Tunisian context

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Mohamed Ali Boujelbene

2013-05-01

Full Text Available The purpose of this exploratory research study is to examine the extent of recognition of the concept of intellectual capital in the Tunisian context and to identify the perceptions of managers concerning the accounting treatment and disclosure of this hidden concept. A survey questionnaire was conducted among 51 Tunisian managers. The results of this survey argue that the majority of respondents perceive the elements of intellectual capital as important value drivers for their business. This study shows that managers are aware of the shortcoming of the present accounting system and they approve previous studies that propose voluntary disclosure of information relating to intellectual capital as a solution to compensate for the loss of relevance of traditional accounting information. The present study presents a significant interest in the accounting literature and provides whether it would be appropriate for the Tunisian accounting standard setter to ask companies to disclose more intellectual capital information.

The Impact of News Use and Social Capital on Youth Wellbeing: An Aggregate-Level Analysis

Science.gov (United States)

Beaudoin, Christopher E.

2007-01-01

The current study explores the socioenvironmental determinants of youth development, with a focus on the mass media and social capital; it tests a model in which news use and social capital influence youth wellbeing. Social capital is operationally defined in terms of youth involvement and perceptions of place, and youth wellbeing is measured with…

Memory loss

Science.gov (United States)

... barbiturates or ( hypnotics ) ECT (electroconvulsive therapy) (most often short-term memory loss) Epilepsy that is not well controlled Illness that ... appointment. Medical history questions may include: Type of memory loss, such as short-term or long-term Time pattern, such as how ...

Capital Market Integration in ASEAN Countries: Special Investigation of Indonesian Towards the Big Four

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Barli Suryanta

2012-01-01

Full Text Available ASEAN already proposed financial integration through capital market integration based on ASEAN Economics Community (AEC 2020 treaty in order to aim comprehensive ASEAN economic integration. The objective of this study is to occur the capacity of Indonesian in terms of integrating its capital market towards the big four i.e., Singaporean, Malaysian, Philippines, and Thailand.  Vector Auto-regression (VAR analysis is utilized to investigate Indonesian market returns co-movement and dynamic link with ASEAN 4. The conclusion of this study, there is neither co-movement nor strong dynamic link between Indonesian capital market with those of Singaporean, Malaysian, Philippines, and Thailand. Keywords: ASEAN Capital market integration, Indonesian Capital Market, ASEAN 4 Capital Market, VAR Framework.

Building "Science Capital" in the Classroom

Science.gov (United States)

Nomikou, Effrosyni; Archer, Louise; King, Heather

2017-01-01

In this article we share insights from our ongoing research on the concept of "science capital"--a term that refers to an individual's science-related resources and dispositions. We have been working in collaboration with secondary teachers in England to explore the applications of the concept in science teaching practice. Underpinned by…

Foreicn Trade of Capital Goods in the United States: A Persistent Deterioration

OpenAIRE

Goicoechea, Julio

2017-01-01

Foreign trade of capital goods in the United States from 1994 to 2016 is specifically examined. A lagging performance of exports vis-à-vis imports in terms of magnitude, growth rate as well as price reductions has led to the current deficit. Domestic industrial output is a determining factor in the extent of foreign trade of capital goods. It exposes very large coefficients in the long term for exports (2.89), as well as for imports (4.34). Concerning the effective exchange rate, coefficients...

Penser le capitalisme cognitif selon Thorstein Veblen ; connaissance, pouvoir & capital

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Marc-André Gagnon

2007-10-01

analysis, as well as his inductive concept of capital that differentiate between tangible ad intangible asets, it is explained how Veblen’s theory of capital brings the notion of power back in economics. Finally, using Veblen’s theory of capital, it is argued that the recent structural transformations that gave rise to the knowledge-based economy shouldn’t be viewed in terms of new forms of productivity but rather in terms of the new ways and means for business interests to extend their control over industrial knowledge, and over the community in general.

Effects of capital markets development on economic growth of Western Balkan countries

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MSc. Artor Nuhiu

2011-12-01

Full Text Available Through this research paper we have tried to elaborate the issue whether capital market development is an alternative towards economic growth and economic prosperity of developing countries in general, the Western Balkan countries in particular. The focus of the paper is to study the effects of proper functioning of capital markets and their im-pact on increasing the level of savings, capital investments and in locating relevant resources for long-term financing of the economy. The research paper presents positive and negative arguments, linking the establishment and development of a capital market and its impact on economic development of developing countries, particularly Western Balkan countries.

Venture Capital in Ohio Schools: Building Commitment and Capacity for School Renewal.

Science.gov (United States)

Ohio State Dept. of Education, Columbus.

This publication describes Venture Capital grants, which are awarded to Ohio schools for school-improvement efforts. Originating in the business sector, the concept of Venture Capital represented corporate earning or individual savings invested in a new or fresh enterprise. The grants are designed to be long-term, evolving efforts focused on a…

AACP Special Taskforce on Diversifying Our Investment in Human Capital Interim Update.

Science.gov (United States)

White, Carla; Adams, Jennifer

2016-09-25

The 2015-2017 AACP Special Taskforce on Diversifying our Investment in Human Capital was appointed for a two-year term, therefore the interim update from the Taskforce. A full report will be provided in 2017 in the form of a white paper for academic pharmacy on diversifying our investment in human capital.

A RETROSPECTIVE OF EVALUATION MODELS ON INTELLECTUAL CAPITAL

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Ienciu Nicoleta Maria

2011-12-01

Full Text Available In the classical theory of economics, capital is one of the three factors of production, in addition to land and labor, and refers in particular to buildings, equipment, and machinery etc., used for the production of other goods (the term physical capital is also used by the specialized literature (Bratianu and Jianu, 2006. The present study intend to bring to the forefront the main evalluation methods for intellectual capital, as proposed, supported and criticized at the same time by researchers and practitioners. The study offers response to the following research questions: Which are the advantages and disadvantages of the intellectual capital evaluation methods? And what are the main studies approaching the subject of intellectual capital evaluation at international level? The collection and analysis of intellectual capital evaluation models and the non-participative observation are the main instruments used to bring to the forefront the main international existing evaluation frameworks. The information sources representing the base for these researches are especially constituted by articles published in specialized magazines, both from accounting and economics fields, specialized works relevant to the reference field, legislative documents, official documents, press releases and other documents issued by various national and international bodies. The most representative studies bringing to the forefront the evaluation of intellectual capital are the ones elaborated by Mouritsen et al (Mouritsen et al, 2001, Manea and Gorgan (Manea and Gorgan, 2003, Tayles (Tayles, 2002, Tayles et al (Tayles et al, 2007. The presented approaches offer a general idea on the range of methods, disciplines and operational specializations existing for the evaluation of intellectual capital. Only one of them - Balanced Scorecard is largely used, while the rest of the methods remain too theoretical or too poorly developed to be universally accepted. We believe that

Bank Valuation and Its Connections with the Subprime Mortgage Crisis and Basel II Capital Accord

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C. H. Fouche

2008-01-01

Full Text Available The ongoing subprime mortgage crisis (SMC and implementation of Basel II Capital Accord regulation have resulted in issues related to bank valuation and profitability becoming more topical. Profit is a major indicator of financial crises for households, companies, and financial institutions. An SMC-related example of this is the U.S. bank, Wachovia Corp., which reported major losses in the first quarter of 2007 and eventually was bought by Citigroup in September 2008. A first objective of this paper is to value a bank subject to Basel II based on premiums for market, credit, and operational risk. In this case, we investigate the discrete-time dynamics of banking assets, capital, and profit when loan losses and macroeconomic conditions are explicitly considered. These models enable us to formulate an optimal bank valuation problem subject to cash flow, loan demand, financing, and balance sheet constraints. The main achievement of this paper is bank value maximization via optimal choices of loan rate and supply which leads to maximal deposits, provisions for deposit withdrawals, and bank profitability. The aforementioned loan rates and capital provide connections with the SMC. Finally, OECD data confirms that loan loss provisioning and profitability are strongly correlated with the business cycle.

The Importance of Knowledge Management in Terms of Increasing Social Capital in Selected Slovene Technology Parks

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Riko Novak

2013-12-01

Full Text Available This article investigates the importance of knowledge management (KM and how it is influencing social capital (SC in selected organisations that are members of Slovene technology parks. The purpose of this article is to point out statistical important characteristics between the dependant variable and several independent variables on the basis of preliminary studied empirical data based on a population of 667 organisations chosen from the subjects of the innovative environment database maintained by the Public Agency of the Republic of Slovenia for Entrepreneurship and Foreign Investments (JAPTI. On the basis of a multivariate regression analysis we wanted to present empirical findings, namely, whether communication technologies and the capability (ability of the employed to access information sources influences KM. With this article we want to present the final findings which define the development of a conceptual framework for understanding the influence of KM in small and medium sized companies on the development of social capital. We came to the conclusion that in an organisation the importance of intellectual and social capital, intangible capital assets and their continuous measurement has to be emphasised in order to increase the importance (awareness of KM.

Predictors and effects of long-term dieting on mental well-being and weight loss in obese women.

Science.gov (United States)

Karlsson, J; Hallgren, P; Kral, J; Lindroos, A K; Sjöström, L; Sullivan, M

1994-08-01

Sixty moderately obese women (mean BMI = 33, mean age = 43), randomized to a lactovegetarian or regular 1300-kcal weight-reducing diet were followed at 3, 8 and 24 months. Weight follow-up was 92%, while 47% complied with the program throughout with no differences between the two diets with respect to compliance rate, weight loss or behavioral test results. Over 24 months compliers lost a mean 3.9 kg compared to a gain of 1.8 kg in the non-compliers. Short-term improvements in mental well-being measured by the Mood Adjective Check List deteriorated after 2 years to lower levels than at entry. Self-assessed motivation to diet was inversely related to mental well-being at two years. Positive long-term changes of functional status (Sickness Impact Profile) were found. Though subjective prediction of success measured after 3 weeks on diet predicted short-term and maximum weight loss, it did not predict ultimate outcome. More difficulties in resisting emotional and social eating cues (high disinhibition score on the Three-Factor Eating Questionnaire) before and during the diet predicted weight gain. The more initial health-related dysfunction (SIP) the greater the weight regain. Psychological characteristics at baseline did not predict compliance or overall weight loss. The magnitude of weight loss after 24 months was related to amount and duration of maximum weight loss.

FINANCIAL COMMUNICATION AND INTELLECTUAL CAPITAL REPORTING PRACTICES

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BELENESI (BUMBA MARIOARA

2014-07-01

Full Text Available In a highly competitive economy, driven by globalization, the abundance of digital information and communication facilities, the investor directs its capital to those companies that promise added value of the invested capital. Even so, companies seek to obtain favorable terms of financing by rendering sensitive the investors. To achieve their goal, they must provide information about their financial and non financial performance with sufficient regularity to meet the information needs of actual or potential capital bidders in decision making. Financial communication through standardized annual statements of financial reporting in the context of corporate governance is no longer sufficient. The organization has more resources than those included in its balance sheet, capable of attracting huge benefits, but which do not meet the criteria for recognition in the financial statements. It requires, therefore, a voluntary disclosure of information on intangible resources, which are key factors in creating future value for both the organization itself and the industry it is part of. The reports of intellectual capital can effectively complement the shortcomings of the traditional model of accounting and financial reporting. In our paper we wanted to analyze financial communication in the context of corporate governance, presented through financial statements, reaching the intellectual capital reporting practices, as a means to improve communication of the organization with the outside. In this sense we presented two examples of good practice of two service companies (consultancy and design that publish annually intellectual capital reports. To alleviate the negative consequences of non-recognition of intangible assets in the financial statements, we are for the voluntary disclosure of information on intangible assets in the intellectual capital reports, annual reports, those regarding corporate responsibility, or at least in the explanatory notes of

Abnormal neural activities of directional brain networks in patients with long-term bilateral hearing loss.

Science.gov (United States)

Xu, Long-Chun; Zhang, Gang; Zou, Yue; Zhang, Min-Feng; Zhang, Dong-Sheng; Ma, Hua; Zhao, Wen-Bo; Zhang, Guang-Yu

2017-10-13

The objective of the study is to provide some implications for rehabilitation of hearing impairment by investigating changes of neural activities of directional brain networks in patients with long-term bilateral hearing loss. Firstly, we implemented neuropsychological tests of 21 subjects (11 patients with long-term bilateral hearing loss, and 10 subjects with normal hearing), and these tests revealed significant differences between the deaf group and the controls. Then we constructed the individual specific virtual brain based on functional magnetic resonance data of participants by utilizing effective connectivity and multivariate regression methods. We exerted the stimulating signal to the primary auditory cortices of the virtual brain and observed the brain region activations. We found that patients with long-term bilateral hearing loss presented weaker brain region activations in the auditory and language networks, but enhanced neural activities in the default mode network as compared with normally hearing subjects. Especially, the right cerebral hemisphere presented more changes than the left. Additionally, weaker neural activities in the primary auditor cortices were also strongly associated with poorer cognitive performance. Finally, causal analysis revealed several interactional circuits among activated brain regions, and these interregional causal interactions implied that abnormal neural activities of the directional brain networks in the deaf patients impacted cognitive function.

Measuring Capital

OpenAIRE

W. Erwin Diewert

2003-01-01

The paper revisits Harper, Berndt and Wood (1989) and calculates Canadian reproducible capital services aggregates under alternative assumptions about the form of depreciation, the opportunity cost of capital and the treatment of capital gains. Five different models of depreciation are considered: (1) one hoss shay; (2) straight line depreciation; (3) declining balance or geometric depreciation; (4) linearly declining efficiency profiles and (5) linearly increasing maintenance profiles. The l...

Reducing Children’s Behavior Problems through Social Capital: A Causal Assessment

Science.gov (United States)

López Turley, Ruth N.; Gamoran, Adam; McCarty, Alyn Turner; Fish, Rachel

2016-01-01

Behavior problems among young children have serious detrimental effects on short and long-term educational outcomes. An especially promising prevention strategy may be one that focuses on strengthening the relationships among families in schools, or social capital. However, empirical research on social capital has been constrained by conceptual and causal ambiguity. This study attempts to construct a more focused conceptualization of social capital and aims to determine the causal effects of social capital on children’s behavior. Using data from a cluster randomized trial of 52 elementary schools, we apply several multilevel models to assess the causal relationship, including intent to treat and treatment on the treated analyses. Taken together, these analyses provide stronger evidence than previous studies that social capital improves children’s behavioral outcomes and that these improvements are not simply a result of selection into social relations but result from the social relations themselves. PMID:27886729

The Management of Capital Allocation for Sustainable Municipal Solid Waste Management System: A Case Study of Bang Saen, Thailand

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Daichi Iwase

2013-01-01

Full Text Available This paper attempted to analyze and understand the management of capital allocation for sustainable municipal solid waste management system at Bang Saen, Thailand. Financial, manufactured, human, social and natural capital was the focus of this study. Capital allocation to five capitals, activities of the stakeholders related to municipal solid waste management, and the output of these activities were analyzed. The investigation was carried out by reviewing documents, conducting in-depth interviews with various stakeholders including the Saensuk municipality officials, locals and tourists, and carrying out field observations. Results showed that total output from five capitals is influenced by activity performance of stakeholders, which is dependent on input to five capitals. However, input was made without assessments of output produced by the activities of the stakeholders, which stemmed from the absence of a policy goal on municipal solid waste management and action plans to achieve its goal. Capital was mostly allocated to financial and manufactured capitals in terms of support of municipal solid waste collection, transportation and disposal. Findings suggest that capital should be allocated to activities related to human, social and natural capitals that can help improve activity performance of the stakeholders, and therefore improve total output and sustainability of the system. Well-designed activities could generate improved output, which is made by readjusting input based on assessments of output and by reflecting feedback in decision making on capital allocation. For this reason, the municipality has to set a clear policy goal of municipal solid waste management, short-term, and long-term action plans. Finally, recommendation is given to municipality.

78 FR 62017 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

Science.gov (United States)

2013-10-11

... unlevel playing field between banking organizations and other financial services providers. For example, a... for banking organizations. The final rule consolidates three separate notices of proposed rulemaking... minimum capital requirement, a higher minimum tier 1 capital requirement, and, for banking organizations...

12 CFR 325.103 - Capital measures and capital category definitions.

Science.gov (United States)

2010-01-01

... STATEMENTS OF GENERAL POLICY CAPITAL MAINTENANCE Prompt Corrective Action § 325.103 Capital measures and... agreement, order, capital directive, or prompt corrective action directive issued by the FDIC pursuant to... CFR 28.15(b), or to comply with asset maintenance requirements pursuant to 12 CFR 28.20; or (B) The...

Redistribution spurs growth by using a portfolio effect on risky human capital.

Science.gov (United States)

Lorenz, Jan; Paetzel, Fabian; Schweitzer, Frank

2013-01-01

We demonstrate by mathematical analysis and systematic computer simulations that redistribution can lead to sustainable growth in a society. In accordance with economic models of risky human capital, we assume that dynamics of human capital is modeled as a multiplicative stochastic process which, in the long run, leads to the destruction of individual human capital. When agents are linked by fully redistributive taxation the situation might turn to individual growth in the long run. We consider that a government collects a proportion of income and reduces it by a fraction as costs for administration (efficiency losses). The remaining public good is equally redistributed to all agents. Sustainable growth is induced by redistribution despite the losses from the random growth process and despite administrative costs. Growth results from a portfolio effect. The findings are verified for three different tax schemes: proportional tax, taking proportionally more from the rich, and proportionally more from the poor. We discuss which of these tax schemes performs better with respect to maximize growth under a fixed rate of administrative costs, and the governmental income. This leads us to general conclusions about governmental decisions, the relation to public good games with free riding, and the function of taxation in a risk-taking society.

Redistribution spurs growth by using a portfolio effect on risky human capital.

Directory of Open Access Journals (Sweden)

Jan Lorenz

Full Text Available We demonstrate by mathematical analysis and systematic computer simulations that redistribution can lead to sustainable growth in a society. In accordance with economic models of risky human capital, we assume that dynamics of human capital is modeled as a multiplicative stochastic process which, in the long run, leads to the destruction of individual human capital. When agents are linked by fully redistributive taxation the situation might turn to individual growth in the long run. We consider that a government collects a proportion of income and reduces it by a fraction as costs for administration (efficiency losses. The remaining public good is equally redistributed to all agents. Sustainable growth is induced by redistribution despite the losses from the random growth process and despite administrative costs. Growth results from a portfolio effect. The findings are verified for three different tax schemes: proportional tax, taking proportionally more from the rich, and proportionally more from the poor. We discuss which of these tax schemes performs better with respect to maximize growth under a fixed rate of administrative costs, and the governmental income. This leads us to general conclusions about governmental decisions, the relation to public good games with free riding, and the function of taxation in a risk-taking society.

Quantifying the Impact of Seasonal and Short-term Manure Application Decisions on Phosphorus Loss in Surface Runoff.

Science.gov (United States)

Vadas, Peter A; Good, Laura W; Jokela, William E; Karthikeyan, K G; Arriaga, Francisco J; Stock, Melanie

2017-11-01

Agricultural phosphorus (P) management is a research and policy issue due to P loss from fields and water quality degradation. Better information is needed on the risk of P loss from dairy manure applied in winter or when runoff is imminent. We used the SurPhos computer model and 108 site-years of weather and runoff data to assess the impact of these two practices on dissolved P loss. Model results showed that winter manure application can increase P loss by 2.5 to 3.6 times compared with non-winter applications, with the amount increasing as the average runoff from a field increases. Increased P loss is true for manure applied any time from late November through early March, with a maximum P loss from application in late January and early February. Shifting manure application to fields with less runoff can reduce P loss by 3.4 to 7.5 times. Delaying manure application when runoff is imminent can reduce P loss any time of the year, and sometimes quite significantly, but the number of times that application delays will reduce P loss is limited to only 3 to 9% of possible spreading days, and average P loss may be reduced by only 15% for winter-applied manure and 6% for non-winter-applied manure. Overall, long-term strategies of shifting manure applications to low runoff seasons and fields can potentially reduce dissolved P loss in runoff much more compared with near-term, tactical application decisions of avoiding manure application when runoff is imminent. Copyright © by the American Society of Agronomy, Crop Science Society of America, and Soil Science Society of America, Inc.

A contemporary perspective on capitated reimbursement for imaging services.

Science.gov (United States)

Schwartz, H W

1995-01-01

Capitation ensures predictability of healthcare costs, requires acceptance of a premium in return for providing all required medical services and defines the actual dollar amount paid to a physician or hospital on a per member per month basis for a service or group of services. Capitation is expected to dramatically affect the marketplace in the near future, as private enterprise demands lower, more stable healthcare costs. Capitation requires detailed quantitative and financial data, including: eligibility and benefits determination, encounter processing, referral management, claims processing, case management, physician compensation, insurance management functions, outcomes reporting, performance management and cost accounting. It is important to understand actuarial risk and capitation marketing when considering a capitation contract. Also, capitated payment methodologies may vary to include modified fee-for-service, incentive pay, risk pool redistributions, merit, or a combination. Risk is directly related to the ability to predict utilization and unit cost of imaging services provided to a specific insured population. In capitated environments, radiologists will have even less control over referrals than they have today and will serve many more "covered lives"; long-term relationships with referring physicians will continue to evaporate; and services will be provided under exclusive, multi-year contracts. In addition to intensified use of technology for image transfer, telecommunications and sophisticated data processing and tracking systems, imaging departments must continue to provide the greatest amount of appropriate diagnostic information in a timely fashion at the lowest feasible cost and risk to the patient.

Growth with Endogenous Capital, Knowledge, and Renewable Resources

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Wei-Bin Zhang

2017-03-01

Full Text Available This paper proposes a dynamic economic model with endogenous technological change, physical capital and renewable resources. The model is a synthesis of the neoclassical growth theory, Arrow’s learning by doing, and some traditional dynamic models of renewable resources with an alternative approach to household behavior. The model describes a dynamic interdependence between technological change, physical accumulation, resource change, and division of labor under perfect competition. Because of its refined economic structure, the model analyzes some interactions between economic variables which are not found in the existing literature of economic growth. We simulate the model to demonstrate existence of equilibrium points and motion of the dynamic system. Our comparative dynamic analysis shows, for instance, that a rise in the capacity of the renewable resource increases the stock and reduces the price of the resource of the resource over time; the output levels of the two sectors, the total capital stock, and capital inputs of the two sectors are all increased; the labor distribution between the two sectors is slightly affected initially but is not affected in the long term; the rate of interest rises initially rise and is almost not affected in the long term; the per capita consumption levels of the good and the resource and the wage rate are increased.

Risk-adjusted capitation: recent experiences in The Netherlands.

Science.gov (United States)

van de Ven, W P; van Vliet, R C; van Barneveld, E M; Lamers, L M

1994-01-01

The market-oriented health care reforms taking place in the Netherlands show a clear resemblance to the proposals for managed competition in U.S. health care. In both countries good risk adjustment mechanisms that prevent cream skimming--that is, that prevent plans from selecting the best health risks--are critical to the success of the reforms. In this paper we present an overview of the Dutch reforms and of our research concerning risk-adjusted capitation payments. Although we are optimistic about the technical possibilities for solving the problem of cream skimming, the implementation of good risk-adjusted capitation is a long-term challenge.

From political capitalism to clientelist capitalism? The case of Croatia

Directory of Open Access Journals (Sweden)

Denis Redžepagić

2011-12-01

Full Text Available The paper analyses the typology of capitalism in Croatia. The Croatian form of capitalism is specific, in form and origin, with links between the pre-independence and post-independence periods, implying that capitalism has gradually evolved – from the political during the eighties towards current clientelistic capitalism. The manufacturing focus aims to facilitate the analysis of institutional, political and economic changes over the past forty years, emphasising the implications of institutional changes which have to a great extent, apart from the war of course, influenced the evolution of capitalism. The paper finds that the transition generated a number of costs, mainly generated by the state (fall in employment, manufacturing and social capital. The claim that the manufacturing industry has inherited low competitiveness neglects the necessary discussion on the role of the state in the formation of industrial policy and market actions. It is also an ex post argument for the claim that restructuring should have been implemented prior to privatisation as this would reduce negative impacts. Institutional changes led to a drastic reduction of the role of the manufacturing sector in the economy. The main finding in this paper is that the change in the interaction between the financial and the real sectors of the economy, the educational system and industrial relations system exposed the vulnerability of the current institutional environment. Despite similarities, institutional advantages of political capitalism are lost in the new type of Croatian capitalism, due to the complexity of the double transition process and the institutional or socio-economic particularities.

Higher order saddlepoint approximations in the Vasicek portfolio credit loss model

NARCIS (Netherlands)

Huang, X.; Oosterlee, C.W.; van der Weide, J.A.M.

2006-01-01

This paper utilizes the saddlepoint approximation as an efficient tool to estimate the portfolio credit loss distribution in the Vasicek model. Value at Risk (VaR), the risk measure chosen in the Basel II Accord for the evaluation of capital requirement, can then be found by inverting the loss

[Neighborhood environment quality, individual-level social capital, and depressive symptoms among adolescents].

Science.gov (United States)

Asakura, Takashi

2011-09-01

We aimed to develop measures to assess features of neighborhood quality and individual social capital, as well as their associations with depressive symptoms among early adolescents. To determine whether relations of depressive symptoms with neighborhood quality might be contingent upon the level of individual cognitive social capital, neighborhood-by-cognitive social capital interaction terms were examined. A qualitative study was conducted to elicit the perceptions of early adolescents about their neighborhood environment. Subsequently, we recruited 2,002 eighth graders and asked for responses to a self-administered questionnaire. The variables analyzed in this study were the Center for Epidemiologic Studies-Depression scale (10 items), features of neighborhood quality, cognitive and structural individual social capital, and demographics. We adopted a generalized estimating equation regression model for the multivariate analysis. The analytic sample was 1,786 with no missing variable in the models. Seven subscales were devised to assess quality features of neighborhood environments with an examination of validity and reliability: "availability of services," "good neighborhood relations," "spaces for recreation," "insecurity and danger of accidents," "dirty-looking, squalid, unclean," "civic communities," and "aesthetic look." We also developed a scale of individual cognitive social capital, which consisted of three constructs: "social trust," "reciprocity," and "social norms." Additionally, the number of social activities in which subjects participated was counted as an indicator of the structural aspect of individual social capital. On examination with the generalized estimating equation regression model, "availability of services," "insecurity and danger of accidents," "dirty-looking, squalid, unclean," and cognitive social capital were significantly associated with the CES-D scores controlling for demographics. We also found a significant interplay between

Basic criteria for the legal regulation of capital in cooperative societies

Directory of Open Access Journals (Sweden)

Adrián Celaya Ullíbarri

2005-12-01

Full Text Available The legislation virtually makes impossible the uptake and accumulation of capital resources in the long term. There have been numerous proposals for updating the legal regime aimed at creating new tools that enable the long-term financing of cooperatives.

Managing Small Business Enterprise: Social Capital and Financial Approach at Regency Probolinggo

OpenAIRE

Harmono, Harmono

2009-01-01

This study attempted to analyze management model of small business enterprise inProbolinggo regency. Conceptual framework was based on social capital and financial approach.Terms of finance would be analyzed with financial audit, and social capital consisting ofindividual behavior, organization behavior in groups, relationship with others and governmentinstitution which followed local social norms enhancing goals congruence. Research designintegrated both exploratory and confirmatory research...

Financial resources for development. Capital markets in developing countries: a study on borrowing by developing countries in the emerging capital markets of the Middle East

Energy Technology Data Exchange (ETDEWEB)

Nashashibi, H S

1980-10-01

Private transfers of capital from the Organization of Petroleum Exporting Countries (OPEC) to developing countries are intended to complement private transfers from the Organization of Economic Cooperation and Development (OECD) by tapping the emerging capital markets in the Middle East. Developing countries will be able to diversify their borrowing and gain additional financing. The long-term investment of oil-producing countries will benefit and the pressures on the banking institutions to recycle funds will lessen. Middle East capital markets include international loans and international bonds. The history of the Kuwaiti dinar (KD) bond market, with its advantages for both investors and borrowers, illustrates the successful development of a capital market. Financial intermediation needs to be improved, however, if the Middle East is to become efficient enough to compete with the Euromarkets. Efficiency will require different measures and should reflect strengthening relationships among Middle East nations. (DCK)

Entrepreneurs’ human and social capital

DEFF Research Database (Denmark)

Shayegheh Ashourizadeh, Shayegheh; Rezaei, Shahamak; Schøtt, Thomas

2014-01-01

Abstract: It is widely acknowledged that entrepreneurs’ human capital in form of education and social capital in form of networking are mutually beneficial and also that both human and social capital benefit their performance. Here, the hypothesis is that human and social capital, in combination......, provide added value and jointly add a further boost to performance, specifically if the form of exporting. Global Entrepreneurship Monitor provides data on 52,946 entrepreneurs, who reported on exporting and networking for advice. Hierarchical linear modelling shows that human capital promotes social...... capital, that human capital and social capital (specifically networking in the international environment, work-place, professions and market, but not in the private sphere) both benefit export directly and that human capital amplifies the benefit of social capital, especially through international...

The Role of Intellectual Capital and Entrepreneurial Characteristics as Innovation Drivers

Directory of Open Access Journals (Sweden)

Nadia Ugalde-Binda

2014-05-01

Full Text Available Innovation and entrepreneurship are essential organizational strategies to find a way out of the world crisis affecting today’s firms. Thus, the study of how organizational factors, like intellectual capital or entrepreneur characteristics, affects the success of an innovative entrepreneurial project is of utmost importance in helping current organizations find a solution to this problem. Intellectual capital involves investment in human, structural and relational capital. Consequently, our research goal centres on analyzing the influence of intellectual capital as well as the personal characteristics of entrepreneurs on the innovation results. This phenomenon remains unexplored in the case of micro and small firms. Our paper focuses on a particular context where small firms represent a key role in the industry: the case of Costa Rica. We used both quantitative and qualitative methodologies in order to develop the analysis. Our first results show a positive and significant relationship between structural and relational capital and innovation results; also, we can observe a positive relationship between a general measure of intellectual capital and innovation results. The case study illustrates how human capital and, specifically, the characteristics of the entrepreneur have an important influence on firm results. Our work contributes to show the relevance of intellectual capital on innovation success, and results encourage practitioners to invest in structural and relational capital and also improve the degree of planning of activities to obtain better results in the long term.

Investment in capital markets

OpenAIRE

Ledenyov, Dimitri O.; Ledenyov, Viktor O.

2017-01-01

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

Temperature dependence of critical current and transport current losses of 4 mm YBCO coated conductors manufactured using nonmagnetic substrate

Science.gov (United States)

Kvitkovic, J.; Hatwar, R.; Pamidi, S. V.; Fleshler, S.; Thieme, C.

2015-12-01

The temperature dependence of the critical current and AC losses were measured on American Superconductor Corporation's (AMSC) second generation high temperature superconducting (2G HTS) wire produced by Rolling Assisted Biaxially Textured Substrate (RABiTS) and Metal Organic Deposition (MOD) process. Wires manufactured with two types of substrates were characterized. The magnetic substrate with composition Ni5a%W exhibits a magnetic signature and has non-negligible AC losses in AC power applications. A new nonmagnetic substrate with an alloy composition Ni9a%W has been developed by AMSC to address the AC losses in 2G HTS. The data presented show that the performance of the new conductor is identical to the conductor with magnetic substrate in terms of critical current density. The data on AC losses demonstrate the absence of ferromagnetic loss component in the new conductor and significantly reduced AC losses at low to moderate values of I/Ic. The reduced losses will translate into reduced capital costs and lower operating costs of superconducting electrical devices for AC applications.

Minority Capital Resource Handbook. A Guide to Raising Capital for Minority Entrepreneurs. Second Edition.

Science.gov (United States)

Ewing, Samuel D., Jr.; Maloney, Clifton H. W.

This minority capital resource handbook consists of a guide to raising capital for minority entrepreneurs and a listing of sources that provide such capital. The first section deals with the process of raising capital. The realities of raising capital, intermediaries and financial advisors, and assessing needs are outlined. Factors considered in…

Social capital, social relationships and adults with acquired visual impairment: a nigerian perspective.

Science.gov (United States)

Bassey, Emmanuel; Ellison, Caroline; Walker, Ruth

2018-01-31

This study investigates the social capital implications of vision loss among working-age adults in Nigeria. The study explores the challenges of acquiring and maintaining social relationships post-vision loss, and investigates the extent to which visual rehabilitation services support social goals. A qualitative study using a phenomenological approach was undertaken. Eight adults (18-59 years) were recruited from disability service organizations in Nigeria. Telephone interviews were recorded and transcribed, and thematic content analysis was used to analyze the data gathered in this study. Three broad themes were developed from participants' accounts of their experiences: (1) changes to relationships with friends and others; (2) finding strength in family relationships; and (3) rehabilitation and the confidence to interact. The findings indicate that the relationship between participants and their family members improved post vision impairment, enhancing bonding social capital. However, participants experienced reduced bridging and linking social capital due to diminished or broken relationships with managers, coworkers, friends, and others in the community. As social connectedness and relationships are highly valued in Nigeria's diverse society, we suggest that adults with visual impairment would significantly benefit from visual rehabilitation services placing greater emphasis on addressing the social goals of participants. Implications for Rehabilitation Visual impairment in working-age adults can strengthen family relationships (homogenous groups), creating bonding capital that is associated with access to important resources including emotional and moral support, and some financial and material resources. Visual impairment can negatively impact relationships with managers, coworkers, and others in the community (heterogeneous groups), resulting in diminished bridging and linking capital. Visual impairment can reduce access to resources such as an income

Prof. Wu Xiaoqiu:China Is Striving for the World's Most Developed Capital Market

Institute of Scientific and Technical Information of China (English)

Sun Yongjian; Zhang Yue

2007-01-01

@@ China's capital market is a hot issue in the new year. The best strategy to develop the Chinese capital market in the coming 15 to 20 years was discussed in the China Capital Market Forum, which was held in China at Renmin University on January 13. Government officials, scholars, and entrepreneurs commented that by 2020, the Chinese capital market will develop into one of the best capital markets in the world,not only in terms of size, but also asset quality, liquidity and dynamic trade. Is this a realistic goal? What steps should we take to pursue this target? With these questions in mind, after the forum, China's Foreign Trade interviewed Prof. Wu Xiaoqiu, Vice President of Renmin University of China,and the Director of the Finance & Securities Institute of Renmin University.

Human Capital Efficiency and Firm Performance: An Empirical Study on Malaysian Technology Industry

Directory of Open Access Journals (Sweden)

Rahim Azlina

2017-01-01

Full Text Available This study examined the relationship between human capital efficiency and firm’s performance in Malaysian technology industry. Using accounting data, this study reviewed annual reports of all technology companies listed under Main Market and Ace Market of Bursa Malaysia in year 2009. The study applied Value Added Intellectual Coefficient (VAICTM methodology developed by Ante Pulic to measure human capital efficiency. The results showed that there was not much difference in terms of human capital efficiency between the Main Market and Ace Market. Results from correlation analysis indicate that human capital efficiency has significant and positive relation with firm’s performance. Findings from this study may be useful to companies’ managers to make better decision pertaining to the proper deployment of their strategic asset, namely human capital.

Social Capital Database

DEFF Research Database (Denmark)

Paldam, Martin; Svendsen, Gert Tinggaard

2005-01-01

  This report has two purposes: The first purpose is to present our 4-page question­naire, which measures social capital. It is close to the main definitions of social capital and contains the most successful measures from the literature. Also it is easy to apply as discussed. The second purpose...... is to present the social capital database we have collected for 21 countries using the question­naire. We do this by comparing the level of social capital in the countries covered. That is, the report compares the marginals from the 21 surveys....

Nuclear energy = more jobs. [Capital-intensive vs labor-intensive systems

Energy Technology Data Exchange (ETDEWEB)

Brookes, L G

1979-07-01

In the April 1979 issue of Energy Manager, Dr. David Elliott of Open University says capital-intensive systems employ less labor per unit of output, concluding that nuclear energy represented a poor bargain in terms of money invested per job created. Responding to this earlier article, Dr. Brookes argues that capital-intensive systems may employ less labor per unit of output, but they also produce more output and income per worker. Dr. Brookes uses a simple analysis to illustrate how progress results by increasing capital investment and disagrees strongly with Elliotts conclusions - says output must become more capital-intensive to provide more employment opportunities. Further, he feels that Elliott and other antinuclear and environmentalist writers have fallen into the trap of the fallacy of composition - assuming that what is true for a small number of constituent parts taken singly is true also for the total system taken as a whole. Examples can be found in economics of microeconomic elements which do not add up to the expected macroeconomic composition, which explains why some capital-intensive strategies are good and others are not. The excess income produced by capital-intensive energy strategies supports the service and public administration sectors. 3 figures, 1 table. (DCK)

Hearing Loss and Cognitive-Communication Test Performance of Long-Term Care Residents With Dementia: Effects of Amplification

Science.gov (United States)

Hopper, Tammy; Slaughter, Susan E.; Hodgetts, Bill; Ostevik, Amberley; Ickert, Carla

2016-01-01

Purpose: The study aims were (a) to explore the relationship between hearing loss and cognitive-communication performance of individuals with dementia, and (b) to determine if hearing loss is accurately identified by long-term care (LTC) staff. The research questions were (a) What is the effect of amplification on cognitive-communication test…

The Performance of Intellectual Capital

DEFF Research Database (Denmark)

Murthy, Vijaya; Mouritsen, Jan

2011-01-01

Purpose – This paper aims to analyse the relationship between intellectual capital and financial capital using a case study. This makes it possible to discuss how intellectual capital is related to value creation with a degree of nuance that is absent from most statistical studies of relationships...... between human, organisational, relational and financial capital. Design/methodology/approach – The paper uses a case study of a firm that invests in intellectual capital in order to develop financial capital. It traces the relationship between intellectual capital elements and financial capital via...... interviews. This allows the development of a nuanced account of the performance of intellectual capital. This account questions the universality of the linear model typically found in statistical studies. The model makes it possible to show how items of intellectual capital not only interact but also compete...

Should large Spanish municipalities be financially compensated? Costs and benefits of being a capital/central municipality

OpenAIRE

Bosch Roca, Núria; Espasa Queralt, Marta; Montolio, Daniel

2014-01-01

We determine the costs and benefits of being a capital or central municipality, where central costs are understood to be incurred specifically as a result of the problems large municipalities located at the centre of an urban agglomeration face (including costs associated with social issues, immigration, commuting and diseconomies of scale) and capital costs result from the presence of regional and/or central government institutions in the municipality (loss of revenue or increase in expendit...

The impact of financial crisis on portuguese firms' capital structure

OpenAIRE

Lemos, Jéssica Andreia Rocha

2017-01-01

G01, G32 This study aims to verify the impacts of financial crises in the capital structure for Portuguese companies. The purpose is to study different firm-specific determinants of a sample of general PSI Portuguese listed firms at the Euronext Lisbon stock exchange, during the recent crises that endured from 2011 until 2013 and test the impacts on short and long-term debt. In order to test the changes/impacts on Portuguese firms’ capital structure, the most important theor...

Cultural Capital: A Concept Analysis.

Science.gov (United States)

Ohashi, Yuki; Taguchi, Atsuko; Omori, Junko; Ozaki, Akiko

2017-07-01

Harnessing community assets may help public health nurses address health inequalities. Cultural factor is one such asset, which is assumed to be capital in a community. Cultural capital is a key concept for understanding the causes of public health issues. This paper provided an in-depth analysis of "cultural capital" as a concept. Rodgers' evolutionary methodology was used for concept analysis. Forty-two studies published in English between 1998 and 2015 were retrieved from MEDLINE by searching for "cultural capital" in the title field. Antecedents of cultural capital included "educational environment," "belongingness in one's social group," "existing health/social inequalities," and "daily behavior." Cultural capital's identified attributes were "social cultivation," "reproductive rubric," "practical knowledge," and "autogenic ability." Cultural capital's consequences were "improving productivity," "reducing health/social inequality," and "enhancing well-being." Cultural capital is defined as capital characterized by cultivation, rubric, knowledge, and ability. These aspects of cultural capital are typically autogenic, and accumulate and reproduce through lifelong community membership. Cultural capital reduces inequality and ultimately enhances the well-being of individuals and the community through bonding, bridging, and linking economic and social capital. © 2017 Wiley Periodicals, Inc.

Quarterly Aggregate Capital Input and the Cost of Capital for the

OpenAIRE

Subhash C. Sharma; Yijian He

1995-01-01

It is the flow of capital services, instead of the capital stock, along with the flows of other inputs which is related to the flows of outputs in economic theory of cost and production. In applied research, quite often to capture the dynamic phenomena which occurs within a year, there is a need to use quarterly data which may not be captured by annual data. However, quarterly data on capital input and the cost of capital are not readily available. Thus, in this paper the quarterly real and n...

farmers' involvement in capital markets investment as an alternative ...

African Journals Online (AJOL)

DR. TOSIN FASINA

2014-04-02

Apr 2, 2014 ... specifically examined farmers' awareness of the capital markets as well as ... from serving as a source of raising long-term funds, agricultural .... the national level of literacy, which may likely enhance their understanding of the.

Austrian Capital Theory and the Link Between Entrepreneurship and the Theory of the Firm

DEFF Research Database (Denmark)

Foss, Kirsten; Foss, Nicolai Juul; Klein, Peter G.

2005-01-01

tangible and intangible,are heterogeneous; arranging these assets to minimize contractual hazards, toprovide efficient investment incentives, or to exploit competitive advantage isconceived as the prime task of economic organization. None of these approaches,however, is based on a systematic theory......Several writers link entrepreneurship to asset ownership, trying to incorporatethe theory of entrepreneurship into the theory of the firm. The critical link, weargue, is capital heterogeneity. Transaction cost, property rights, and resourcebasedapproaches to the firm assume that assets, both...... of capital heterogeneity. Inthis paper we outline the approach to capital developed by the Austrian schoolof economics and integrate it into an entrepreneurial theory of the firm. We refineAustrian capital theory by defining capital heterogeneity in terms of subjectivelyperceived attributes, that is...

Sexual differences in weight loss upon eclosion are related to life history strategy in Lepidoptera.

Science.gov (United States)

Molleman, Freerk; Javoiš, Juhan; Esperk, Toomas; Teder, Tiit; Davis, Robert B; Tammaru, Toomas

2011-06-01

Given that immature and adult insects have different life styles, different target body compositions can be expected. For adults, such targets will also differ depending on life history strategy, and thus vary among the sexes, and in females depend on the degree of capital versus income breeding and ovigeny. Since these targets may in part be approximated by loss of substances upon eclosion, comparing sexual differences in such losses upon eclosion among species that differ in life history would provide insights into insect functional ecology. We studied weight loss in eclosing insects using original data on pupal and adult live weights of 38 species of Lepidoptera (mainly Geometridae) and further literature data on 15 species of Lepidoptera and six representatives of other insect orders, and applied the phylogenetic independent contrasts approach. In addition, data on live and dry weights of pupae of four species of Lepidoptera are presented. We documented that Lepidoptera typically lose a large proportion (20-80%) of their pupal weight upon adult eclosion. Sexual differences in weight loss varied between absent and strongly male biased. Most of the weight loss was water loss, and sexual differences in adult water content correlate strongly with differences in weight loss. Using feeding habits (feeds or does not feed as an adult) and female biased sexual size dimorphism as measures of degree of capital breeding, we found that the difference among the sexes in weight loss tends to be more pronounced in capital breeding species. Additionally, females of more pro-ovigenic species (large proportion of eggs mature upon emergence) tend to have higher water contents. Our results suggests that metamorphosis is generally facilitated by a high water content, while adults excrete water upon eclosion to benefit flight unless water has been allocated to eggs, or is treated as a capital resource for adult survival or future allocation to eggs. Copyright © 2011 Elsevier Ltd

A different capitalism? : Guanxi-capitalism and the importance of family in modern China

OpenAIRE

Rühle, Susanne

2011-01-01

The emergence of Capitalism is said to always lead to extreme changes in the structure of a society. This view implies that Capitalism is a universal and unique concept that needs an explicit institutional framework and should not discriminate between a German or US Capitalism. In contrast, this work argues that the ‘ideal type’ of Capitalism in a Weberian sense does not exist. It will be demonstrated that Capitalism is not a concept that shapes a uniform institutional framework within every ...

A framework for the management of intellectual capital in the health care industry.

Science.gov (United States)

Grantham, C E; Nichols, L D; Schonberner, M

1997-01-01

This article proposes a new theoretical model for the effective management of intellectual capital in the health care industry. The evolution of knowledge-based resources as a value-adding characteristic of service industries coupled with mounting environmental pressures on health care necessitates the extension of current models of intellectual capital. Our theoretical model contains an expanded context linking its development to organizational learning theory and extends current theory by proposing a six-term archetype of organizational functioning built on flows of information. Further, our proposal offers a hierarchical dimension to intellectual capital and a method of scientific visualization for the measurement of intellectual capital. In conclusion, we offer some practical suggestions for future development, both for researchers and managers.

Measuring Social Capital

DEFF Research Database (Denmark)

Svendsen, Gert Tinggaard; Bjørnskov, Christian

2007-01-01

How to construct a robust measure of social capital? This paper contains two contributions. The first is an attempt to establish a broad social capital measure based on four indicators, the Freedom House Index, an index of perceived corruption from Transparency International, and scores on civic...... participation and generalized trust. This measure is then applied by comparing the level of social capital in 25 countries from Western and Eastern Europe. Our nine cluster analysis shows that Switzerland has the highest score, followed by the Netherlands and Scandinavia. At the other end of the continuum we...... find post-communist countries and Southern Italy. The findings for this specific sample suggest that institutions matter for social capital and the relationship between decentralization and social capital emerges as a promising line of inquiry. Thus, the highest scoring countries in the sample may...

Cultural Capital Today

DEFF Research Database (Denmark)

Prieur, Annick; Skjøtt-Larsen, Jakob; Rosenlund, Lennart

2008-01-01

Based on Danish survey data subjected to correspondence analysis, this article aims at carrying out a critical assessment of Pierre Bourdieu's theory of social differentiation in advanced societies as a multi-dimensional phenomenon. As his theory goes, capital volume (economic + cultural capital......) and capital composition (the relative weight of the two) are the main dimensions of social differentiation, which structure the space of social positions as well as the space of lifestyles. The central discussion of the article concerns the character of cultural capital, and the role it plays in the formation......, as those adhering to the preferences that are most typical for the cultural elite tend to simultaneously avoid or mark distance to popular expressions of taste. Fourth, are there traces of new forms of cultural capital? The study uncovers a cleavage between a global orientation or a form of cosmopolitanism...

Online Social Participation, Social Capital and Literacy of Adolescents with Hearing Loss: A Pilot Study

Science.gov (United States)

Wong, Cara L.; Ching, Teresa Y. C.; Whitfield, Jessica; Duncan, Jill

2016-01-01

The internet and social media have fast become an everyday aspect of adolescents' lives. Online participation may increase social capital and be particularly beneficial for individuals who are deaf or hard-of-hearing (DHH), as it provides an alternative method to communicate, interact with others and access information. However, reduced levels of…

Predicting short-term weight loss using four leading health behavior change theories

Directory of Open Access Journals (Sweden)

Barata José T

2007-04-01

Full Text Available Abstract Background This study was conceived to analyze how exercise and weight management psychosocial variables, derived from several health behavior change theories, predict weight change in a short-term intervention. The theories under analysis were the Social Cognitive Theory, the Transtheoretical Model, the Theory of Planned Behavior, and Self-Determination Theory. Methods Subjects were 142 overweight and obese women (BMI = 30.2 ± 3.7 kg/m2; age = 38.3 ± 5.8y, participating in a 16-week University-based weight control program. Body weight and a comprehensive psychometric battery were assessed at baseline and at program's end. Results Weight decreased significantly (-3.6 ± 3.4%, p Conclusion The present models were able to predict 20–30% of variance in short-term weight loss and changes in weight management self-efficacy accounted for a large share of the predictive power. As expected from previous studies, exercise variables were only moderately associated with short-term outcomes; they are expected to play a larger explanatory role in longer-term results.

26 CFR 1.904(f)-2 - Recapture of overall foreign losses.

Science.gov (United States)

2010-04-01

... $575 on the first disposition and, since the foreign oil related loss account is now reduced by $1,375... recognize foreign oil related income (which is net capital gain) on the first disposition in the amount of... of overall foreign losses from dispositions under section 904(f)(3)—(1) In general. If a taxpayer...

Recent estimates of capital flight

OpenAIRE

Claessens, Stijn; Naude, David

1993-01-01

Researchers and policymakers have in recent years paid considerable attention to the phenomenon of capital flight. Researchers have focused on four questions: What concept should be used to measure capital flight? What figure for capital flight will emerge, using this measure? Can the occurrence and magnitude of capital flight be explained by certain (economic) variables? What policy changes can be useful to reverse capital flight? The authors focus strictly on presenting estimates of capital...

Financial Frictions and the Credit Transmission Channel: Capital Requirements and Bank Capital

OpenAIRE

Lucyna Gornicka; Sweder van Wijnbergen

2013-01-01

We investigate actual capital chosen by banks in presence of capital minimum requirements and ex-post penalties for violating them. The model yields excess capital that is always positive and increases during times of distress in the economy, which is in line with empirical evidence. Next, we show that in presence of ex-post violation penalties the introduction of the conservation buffer under Basel III will not contribute to lowering the pro-cyclicality of capital regulations. The countercyc...

Workplace social capital and mental health: a cross-sectional study among Iranian workers.

Science.gov (United States)

Firouzbakht, Mojgan; Tirgar, Aram; Oksanen, Tuula; Kawachi, Ichiro; Hajian-Tilaki, Karimollah; Nikpour, Maryam; Mouodi, Susan; Sadeghian, Reza

2018-06-26

The psychosocial environment of the workplace has received less attention in terms of occupational health. Trust, social network and social cohesion at the workplace (that is, factors related to social capital) may have effects on employee health. Thus, the objective of this study was to examine the association between workplace social capital and mental health among Iranian workers. In this cross-sectional study, data were obtained from 5 factories in Babol, Northern Iran, in 2016, where 280 workers responded to a survey on social capital at work and psychosocial distress. Approximately 23.6% of the workers had psychological distress, and 23.4% had low social capital in the workplace. There was a significant relationship between mental health and individual workplace social capital (p = 0.025) and aggregated workplace social capital (p = 0.027). After controlling for each individual's characteristics, the prevalence ratio of psychological distress was 2.11 (95% CI: 1.43-3.17) times higher among workers with low individual social capital, and low aggregated workplace social capital was associated with 2.64 (95% CI: 1.28-5.45) times higher odds of psychological distress. Higher social capital is associated with a reduced risk of psychological distress. The promotion of social capital can be considered as a means to increase workplace mental health among workers.

Organizational intellectual capital and the role of the nurse manager: A proposed conceptual model.

Science.gov (United States)

Gilbert, Jason H; Von Ah, Diane; Broome, Marion E

Nurse managers must leverage both the human capital and social capital of the teams they lead in order to produce quality outcomes. Little is known about the relationship between human capital and social capital and how these concepts may work together to produce organizational outcomes through leadership of nurses. The purpose of this article was to explore the concepts of human capital and social capital as they relate to nursing leadership in health care organizations. Specific aims included (a) to synthesize the literature related to human capital and social capital in leadership, (b) to refine the conceptual definitions of human capital and social capital with associated conceptual antecedents and consequences, and (c) to propose a synthesized conceptual model guiding further empirical research of social capital and human capital in nursing leadership. A systematic integrative review of leadership literature using criteria informed by Whittemore and Knafl (2005) was completed. CINAHL Plus with Full Text, Academic Search Premier, Business Source Premier, Health Business FullTEXT, MEDLINE, and PsychINFO databases were searched for the years 1995 to 2016 using terms "human capital," "social capital," and "management." Analysis of conceptual definitions, theoretical and conceptual models, antecedents and consequences, propositions or hypotheses, and empirical support for 37 articles fitting review criteria resulted in the synthesis of the proposed Gilbert Conceptual Model of Organizational Intellectual Capital. The Gilbert Conceptual Model of Organizational Intellectual Capital advances the propositions of human capital theory and social capital theory and is the first model to conceptualize the direct and moderating effects that nurse leaders have on the human capital and social capital of the teams they lead. This model provides a framework for further empirical study and may have implications for practice, organizational policy, and education related to nursing

Capital Structure and Stock Returns

OpenAIRE

Ivo Welch

2002-01-01

U.S. corporations do not issue and repurchase debt and equity to counteract the mechanistic effects of stock returns on their debt-equity ratios. Thus over one- to five-year horizons, stock returns can explain about 40 percent of debt ratio dynamics. Although corporate net issuing activity is lively and although it can explain 60 percent of debt ratio dynamics (long-term debt issuing activity being most capital structurerelevant), corporate issuing motives remain largely a mystery. When stock...

Natural capital and ecosystem services informing decisions: From promise to practice

Science.gov (United States)

Guerry, Anne D.; Polasky, Stephen; Lubchenco, Jane; Chaplin-Kramer, Rebecca; Daily, Gretchen C.; Griffin, Robert; Ruckelshaus, Mary; Bateman, Ian J.; Duraiappah, Anantha; Elmqvist, Thomas; Feldman, Marcus W.; Folke, Carl; Hoekstra, Jon; Kareiva, Peter M.; Keeler, Bonnie L.; Li, Shuzhuo; McKenzie, Emily; Ouyang, Zhiyun; Reyers, Belinda; Ricketts, Taylor H.; Rockström, Johan; Tallis, Heather; Vira, Bhaskar

2015-01-01

The central challenge of the 21st century is to develop economic, social, and governance systems capable of ending poverty and achieving sustainable levels of population and consumption while securing the life-support systems underpinning current and future human well-being. Essential to meeting this challenge is the incorporation of natural capital and the ecosystem services it provides into decision-making. We explore progress and crucial gaps at this frontier, reflecting upon the 10 y since the Millennium Ecosystem Assessment. We focus on three key dimensions of progress and ongoing challenges: raising awareness of the interdependence of ecosystems and human well-being, advancing the fundamental interdisciplinary science of ecosystem services, and implementing this science in decisions to restore natural capital and use it sustainably. Awareness of human dependence on nature is at an all-time high, the science of ecosystem services is rapidly advancing, and talk of natural capital is now common from governments to corporate boardrooms. However, successful implementation is still in early stages. We explore why ecosystem service information has yet to fundamentally change decision-making and suggest a path forward that emphasizes: (i) developing solid evidence linking decisions to impacts on natural capital and ecosystem services, and then to human well-being; (ii) working closely with leaders in government, business, and civil society to develop the knowledge, tools, and practices necessary to integrate natural capital and ecosystem services into everyday decision-making; and (iii) reforming institutions to change policy and practices to better align private short-term goals with societal long-term goals. PMID:26082539

Natural capital and ecosystem services informing decisions: From promise to practice.

Science.gov (United States)

Guerry, Anne D; Polasky, Stephen; Lubchenco, Jane; Chaplin-Kramer, Rebecca; Daily, Gretchen C; Griffin, Robert; Ruckelshaus, Mary; Bateman, Ian J; Duraiappah, Anantha; Elmqvist, Thomas; Feldman, Marcus W; Folke, Carl; Hoekstra, Jon; Kareiva, Peter M; Keeler, Bonnie L; Li, Shuzhuo; McKenzie, Emily; Ouyang, Zhiyun; Reyers, Belinda; Ricketts, Taylor H; Rockström, Johan; Tallis, Heather; Vira, Bhaskar

2015-06-16

The central challenge of the 21st century is to develop economic, social, and governance systems capable of ending poverty and achieving sustainable levels of population and consumption while securing the life-support systems underpinning current and future human well-being. Essential to meeting this challenge is the incorporation of natural capital and the ecosystem services it provides into decision-making. We explore progress and crucial gaps at this frontier, reflecting upon the 10 y since the Millennium Ecosystem Assessment. We focus on three key dimensions of progress and ongoing challenges: raising awareness of the interdependence of ecosystems and human well-being, advancing the fundamental interdisciplinary science of ecosystem services, and implementing this science in decisions to restore natural capital and use it sustainably. Awareness of human dependence on nature is at an all-time high, the science of ecosystem services is rapidly advancing, and talk of natural capital is now common from governments to corporate boardrooms. However, successful implementation is still in early stages. We explore why ecosystem service information has yet to fundamentally change decision-making and suggest a path forward that emphasizes: (i) developing solid evidence linking decisions to impacts on natural capital and ecosystem services, and then to human well-being; (ii) working closely with leaders in government, business, and civil society to develop the knowledge, tools, and practices necessary to integrate natural capital and ecosystem services into everyday decision-making; and (iii) reforming institutions to change policy and practices to better align private short-term goals with societal long-term goals.

Cultural Capital in Context: Heterogeneous Returns to Cultural Capital Across Schooling Environments

DEFF Research Database (Denmark)

Andersen, Ida Gran; Jæger, Mads Meier

2015-01-01

This paper tests two competing explanations of differences in returns to cultural capital across schooling environments: Cultural reproduction (cultural capital yields a higher returns in high-achieving environments than in low-achieving ones) and cultural mobility (cultural capital yields higher...... returns in low-achieving environments). Using multilevel mixture models, empirical results from analyses based on PISA data from three countries (Canada, Germany, and Sweden) show that returns to cultural capital tend to be higher in low-achieving schooling environments than in high-achieving ones....... These results principally support the cultural mobility explanation and suggest that research should pay explicit attention to the institutional contexts in which cultural capital is converted into educational success....

12 CFR 206.5 - Capital levels of correspondents.

Science.gov (United States)

2010-01-01

... not identical to the definition of that term as used for the purposes of the prompt corrective action... capital levels. A bank shall obtain information to demonstrate that a correspondent is at least adequately..., Thrift Financial Report, financial statement, or bank rating report for the correspondent. For a foreign...

Cultural Capital in Context:

DEFF Research Database (Denmark)

Andersen, Ida Gran; Jæger, Mads Meier

This paper analyzes the extent to which the effect of cultural capital on academic achievement varies across high- and low-achieving schooling environments. We distinguish three competing theoretical models: Cultural reproduction (cultural capital yields higher returns in high-achieving schooling...... to be higher in low-achieving schooling environments than in high-achieving ones. These results support the cultural mobility explanation and are in line with previous research suggesting that children from low-SES families benefit more from cultural capital than children from high-SES families....... environments than in low-achieving ones), cultural mobility (cultural capital yields higher returns in low-achieving environments), and cultural resources (cultural capital yields the same returns in different environments). We analyze PISA data from six countries and find that returns to cultural capital tend...

The effect of childhood conduct disorder on human capital.

Science.gov (United States)

Webbink, Dinand; Vujić, Sunčica; Koning, Pierre; Martin, Nicholas G

2012-08-01

This paper estimates the longer-term effects of childhood conduct disorder on human capital accumulation and violent and criminal behavior later in life using data of Australian twins. We measure conduct disorder with a rich set of indicators based on diagnostic criteria from psychiatry. Using ordinary least squares and twin fixed effects estimation approaches, we find that early-age (pre-18) conduct disorder problems significantly affect both human capital accumulation and violent and criminal behavior over the life course. In addition, we find that conduct disorder is more deleterious if these behaviors occur earlier in life. Copyright © 2011 John Wiley & Sons, Ltd.

Human capital diversity in the creation of social capital for team creativity

NARCIS (Netherlands)

Han, J.; Han, J; Brass, D.

2014-01-01

We highlight the social aspects of team creativity by proposing that team creativity is influenced by two types of team social capital: bridging and bonding social capital. Going beyond the structural perspective, we posit that team-level human capital diversity is one of the potential antecedents

26 CFR 1.1243-1 - Loss of small business investment company.

Science.gov (United States)

2010-04-01

... or exchange, of the stock of a small business concern (as defined in section 103(5) of the Small... as a loss from the sale or exchange of property which is not a capital asset if: (i) The stock was... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Loss of small business investment company. 1...

Crispin: capital requirements and reinsurance protect against insolvency.

Science.gov (United States)

Crispin, C

2001-12-01

Charles Crispin is president of Evergreen Re, a managed care consulting firm with expertise in the reinsurance industry. Before Joining Evergreen Re, Crispin served as a consultant to the managed care industry. He is a member of the American Association of Integrated Delivery Systems, Glen Allen, Virginia, and the Provider Excess Loss Association, Princeton, New Jersey. Crispin recently talked with HFM about risk-based capital requirements for health plans and the Impact these solvency guidelines could have on healthcare providers.

Is regulatory capital a legitimate, comparable and objective global standard? Evidence from 51 institutions across 17 countries

Directory of Open Access Journals (Sweden)

Johann Jacobs

2014-05-01

Full Text Available Capital as an instrument for financial regulation has come under scrutiny since the financial crisis of 2007 to 2010 highlighted some deficiencies in the ability of capital to absorb unexpected losses and the procyclical nature of capital. This scrutiny arises mainly from the perspective that one of the principal objectives of capital requirements is to promote and contribute to financial stability. However, the literature on the topic is scarce almost to the point of non-existence regarding capital’s validity as tool to level the playing fields between financial institutions. The objective of this article is therefore to investigate financial regulations based on capital requirements from the perspective of its goal of providing equal competitive conditions for financial institutions, the attainment of which is based on the assumption that the cost of capital between institutions (and countries is the same, which might not necessarily be the case. The cost of capital for 51 financial institutions across 17 countries (three institutions per country is accordingly calculated in this article using original weighted average cost of capital and capital asset pricing models, as well as modified versions of these to include more country-specific factors. The objective of the article is sought firstly by determining whether the cost of capital is the same among countries and secondly, based on the results, ascertaining whether financial regulations based on capital requirements can therefore realistically achieve this objective of providing equal competitive conditions for financial institutions.

KONTRIBUSI HUMAN CAPITAL dan CUSTOMER CAPITAL DALAM MENGGAPAI KINERJA CAFÉ dan RESTO di SURABAYA

Directory of Open Access Journals (Sweden)

Gendut Sukarno

2016-11-01

Berdasarkan hasil pengolahan data diketemukan bahwa 1 human capital mampu memberikan kontribusi yang berarti terhadap customer capital. 2 Customer capital mampu memberikan kontribusi yang berarti terhadap kinerja café dan resto di Surabaya, 3 human capital mampu memberikan kontribusi yang berarti terhadap kinerja café dan resto di Surabaya.

The impact of liquidity on the capital structure: a case study of Croatian firms

Directory of Open Access Journals (Sweden)

Nataša Šarlija

2012-01-01

Full Text Available Background: Previous studies have shown that in some countries, liquid assets increased leverage while in other countries liquid firms were more frequently financed by their own capital and therefore were less leveraged. Objectives: The aim of this paper is to investigate the impact of liquidity on the capital structure of Croatian firms. Methods/Approach: Pearson correlation coefficient is applied to the test on the relationship between liquidity ratios and debt ratios, the share of retained earnings to capital and liquidity ratios and the relationship between the structure of current assets and leverage. Results: A survey has been conducted on a sample of 1058 Croatian firms. There are statistically significant correlations between liquidity ratios and leverage ratios. Also, there are statistically significant correlations between leverage ratios and the structure of current assets. The relationship between liquidity ratios and the short-term leverage is stronger than between liquidity ratios and the long-term leverage. Conclusions: The more liquid assets firms have, the less they are leveraged. Long- term leveraged firms are more liquid. Increasing inventory levels leads to an increase in leverage. Furthermore, increasing the cash in current assets leads to a reduction in the short-term and the long- term leverage.

Cultural capital in context: heterogeneous returns to cultural capital across schooling environments.

Science.gov (United States)

Andersen, Ida Gran; Jæger, Mads Meier

2015-03-01

This paper tests two competing explanations of differences in returns to cultural capital across schooling environments: Cultural reproduction (cultural capital yields a higher returns in high-achieving environments than in low-achieving ones) and cultural mobility (cultural capital yields higher returns in low-achieving environments). Using multilevel mixture models, empirical results from analyses based on PISA data from three countries (Canada, Germany, and Sweden) show that returns to cultural capital tend to be higher in low-achieving schooling environments than in high-achieving ones. These results principally support the cultural mobility explanation and suggest that research should pay explicit attention to the institutional contexts in which cultural capital is converted into educational success. Copyright © 2014 Elsevier Inc. All rights reserved.

Capital gains

International Nuclear Information System (INIS)

Blishen, C.

1997-01-01

This article examines African and Middle East oil and natural gas project financing. Capital markets financing, Ras Laffan's project bonds, capital market issues in Saudi Arabia, the movement toward gas and away from oil, and Islamic opportunities are discussed, African and Middle East oil and gas projects are listed. (UK)

Sand in the Wheels of Capitalism

DEFF Research Database (Denmark)

Bersem, Mario; Perotti, Enrico; von Thadden, Ernst-Ludwig

We present a positive theory of capital market frictions that raise the cost of capital for new firms and lower the cost of capital for incumbent firms. Capital market frictions arise from a political conflict across voters who differ in two dimensions: (i) a fraction of voters owns capital......, the rest receives only lab or income; and (ii) voters have different vintages of human capital. We identify young workers as the decisive voter group, with preferences in between capitalists who favor a free capital market, and old workers, who favor restricted capital mobility. We show that capital market...... frictions do not naturally arise in a static framework, or even in a dynamic framework if capital market frictions are reversible. But if capital market frictions can be made to p ersist over time, we show that young workers favor capital market frictions as a way to smo oth income, especially if wealth...

A theoretical intellectual capital model applied to cities

Directory of Open Access Journals (Sweden)

José Luis Alfaro Navarro

2013-06-01

Full Text Available New Management Information Systems (MIS are necessary at local level as the main source of wealth creation. Therefore, tools and approaches that provide a full future vision of any organization should be a strategic priority for economic development. In this line, cities are “centers of knowledge and sources of growth and innovation” and integrated urban development policies are necessary. These policies support communication networks and optimize location structures as strategies that provide opportunities for social and democratic participation for the citizens. This paper proposes a theoretical model to measure and evaluate the cities intellectual capital that allows determine what we must take into account to make cities a source of wealth, prosperity, welfare and future growth. Furthermore, local intellectual capital provides a long run vision. Thus, in this paper we develop and explain how to implement a model to estimate intellectual capital in cities. In this sense, our proposal is to provide a model for measuring and managing intellectual capital using socio-economic indicators for cities. These indicators offer a long term picture supported by a comprehensive strategy for those who occupy the local space, infrastructure for implementation and management of the environment for its development.

Crisis, suicide and labour productivity losses in Spain.

Science.gov (United States)

Rivera, Berta; Casal, Bruno; Currais, Luis

2017-01-01

Suicide became the first cause of death between the ages of 15 and 44 in Spain in the year 2013. Moreover, the suicide rate in Spain went up by more than 9 % with respect to the previous year. This increase could be related to the serious economic recession that Spain has been experiencing in recent years. In this sense, there is a lack of evidence to help assess to what extent these suicides have a social cost in terms of losses in human capital. Firstly, this article examines the relationship between the variables related to the economic cycle and the suicide rates in the 17 Spanish regions. Secondly, an estimate is made of the losses in labour productivity owing to these suicides. In this article, panel data models are used to consider different variables related to the economic cycle. Demographic variables and the suicide rates for regions across Spain from 2002 to 2013 also come into play. The present and future production costs owing to premature death from suicide are calculated using a human capital model. These costs are valued from the gross salary that an individual no longer receives in the future at the very moment he or she leaves the labour market. The results provide a strong indication that a decrease in economic growth and an increase in unemployment negatively affect suicide rates. Due to suicide, 38,038 potential years of working life were lost in 2013. This has an estimated cost of over 565 million euros. The economic crisis endured by Spain in recent years has played a role in the higher suicide rates one can observe from the data in official statistics. From a social perspective, suicide is a public health problem with far-reaching consequences.

Measuring Strategic Value-Drivers for Managing Intellectual Capital

Science.gov (United States)

Bose, S.; Oh, K. B.

2004-01-01

In an evolving business environment characterised by globalisation and a challenging competitive paradigm, it is imperative for strategic management processes to focus on the financial perspectives of value and risk in intellectual capital to create sustainability in long-term value. This paper presents the key issues pertaining to the strategic…

Inter- and intra-industry variations of capital structure in the Czech manufacturing industry

Directory of Open Access Journals (Sweden)

Pavlína Pinková

2013-01-01

Full Text Available The objective of the paper is to investigate the existence of inter-industry variations in the capital structure of enterprises of the Czech manufacturing industry and to identify the intra-industry causes of these differences. Three measures of capital structure are employed to determine the inter-industry variations. These are total debt ratio, long-term debt and short-term debt ratios. The set of explanatory variables is included to clarify the intra-industry variations. These explanatory variables are size, asset structure, asset utilization, profitability, non-debt tax shield and growth. The paper reports the analysis of capital structure of five distinctive industrial branches, namely the manufacture of beverages, the manufacture of textiles, the manufacture of paper and paper products, the manufacture of chemicals and chemical products, and the manufacture of computer, electronic and optical products. The data come from the financial statements of selected companies and cover a period from 2008 to 2012. The analysis of variance, correlation and regression analyses are used to develop the statistical framework. The paper aims to study the impact of industry and firm characteristics on capital structure choice.

Development of Capital Markets in Turkey and Analysis of Financial Structure of the Intermediary Institutions

Directory of Open Access Journals (Sweden)

Fikret Kartal

2013-08-01

Full Text Available Capital markets, where demand and supply for medium to long term finance meet, are more active and efficient in higher income countries. Capital markets are insufficiently developed in emerging countries such as Turkey that have the structural and institutional obstacles and lack of capital. The first market with securities was established in 19th century in the Ottoman Empire; the Turkish capital markets have gone through the reform programmes as a part of liberalization started in 1980; but the banking sector constitutes the biggest part of the financial sector. The paper presents the development of capital markets in Turkey and analyzes the intermediary institutions by using the financial statements and ratios for the period December 2007-December 2011.

Capital Structure and Corporate Performance: Evidence from Jordan

Directory of Open Access Journals (Sweden)

Rami Zeitun

2007-12-01

Full Text Available This study is to investigate the effect which capital structure has had on corporate performanceusing a panel data sample representing of 167 Jordanian companies during 1989-2003. Ourresults showed that a firm’s capital structure had a significantly negative impact on the firm’sperformance measures, in both the accounting and market’s measures. We also found that theshort-term debt to total assets (STDTA level has a significantly positive effect on the marketperformance measure (Tobin’s Q. The Gulf Crisis 1990-1991 was found to have a positiveimpact on Jordanian corporate performance while the outbreak of Intifadah in the West Bank andGaza in September 2000 had a negative impact on corporate performance.

Selection of intellectual capital management strategies

OpenAIRE

Shcherbachenko Viktoriia Oleksiivna

2016-01-01

This article deals with the selection of intellectual capital management strategy. The attention is paid to the structure of intellectual capital, which consists of human capital, customer capital, process capital, intellectual property, intangible assets. The algorithm of selection of intellectual capital management strategy was created by author.

Understanding Capitalism

DEFF Research Database (Denmark)

du Gay, Paul; Morgan, Glenn

2013-01-01

This chapter places The New Spirit of Capitalism in the context of the development of capitalism over the last twenty years, up to and including the 200-7-8 financial crisis and the ongoing economic crisis which has developed out of this and is now focused on the relationship between state expend...

INVESTMENT IN HUMAN CAPITAL – PREREQUISITE FOR THE GROWTH OF THE ORGANIZATIONAL PERFORMANCE

Directory of Open Access Journals (Sweden)

BÎRCĂ ALIC

2015-12-01

Full Text Available This paper is devoted to investment in human capital as an essential element for ensuring organizational performance. Human capital investments may be direct, more focused on professional training, as well as indirect, more oriented towards the health of employees and the purchase of equipment for their development. In Moldovan organizations investments in human capital are more oriented towards training and professional development of employees. At the same time, in the recruitment and selection of candidates’ process, organizations are trying to attract people that have a high level of professional knowledge and skills, which contribute to increasing the value of their human capital. In order to assess the involvement level of the organizations from Republic of Moldova in terms of human capital development investment, a sociological research that included 152 organizations was conducted. The result of investigations have shown us that human capital value into an organization depends, in the first instance, on the selection tools and techniques that allow election of candidates with an intellectual and professional potential at higher level. Human capital value within organizations increases provided that their staff participates in various professional training programs.

THE ROAD OF ROMANIA FROM FRONTIER TOWARDS EMERGING CAPITAL

Directory of Open Access Journals (Sweden)

BELCIC-ŞTEFAN IULIA-OANA

2015-08-01

Full Text Available In the present study I first present the classification system of states by international financial institutions on economic and financial criteria, then focusing on the classification made by Morgan Stanley Capital International. According to it the capital market in Romania is currently a frontier one, the Financial Surveillance Authority pursuing the reclassification as an emerging capital market by August 2016. The findings of the study indicate this term as unrealistic, for several reasons. Thus, curently on the Romanian stock market there are only two entities out of 3 minimum required, respectively S.N.G.N Romgaz and Fondul Proprietatea, which fully meet the size and liquidity requirements imposed by MSCI in order to be reclassified as an emerging capital market. Also it is mandatory making significant progress regarding the effectiveness of the operational framework, progress made to some extent through Project S.T.E.A.M. (Set of actions Towards Establishing and Acknowledgment of the emerging Market status. On this project, after analyzing the degree of completion of the proposed measures in order to reach the primary and secondary objectives, whose deadlines have expired, according to the schedule provided, we found that only 69% of them were fulfilled. Given these considerations I can state that Romania could be reclassified as an emerging capital market at the earliest starting with 2017.

Unrecorded capital flows and accumulation of foreign assets: the case of Croatia

Directory of Open Access Journals (Sweden)

Goran Vukšić

2010-03-01

Full Text Available This paper evaluates the magnitude of unrecorded capital flows and the resulting unrecorded accumulation of foreign assets for Croatia, over the period between 2000 and 2007. The problem of unrecorded capital outflows, often labeled as capital flight, has gained significance in the present global financial and economic crises, because of increasing capital scarcity in many emerging markets and transition economies including Croatia. The findings reveal relatively large amounts of unrecorded foreign asset accumulation over the observed period. A large portion of this accumulation relates to cumulative amounts of net errors and omissions term, which is interpreted as unrecorded capital flow. There are reasons to believe that this net errors and omissions item in Croatia possibly partly represents the unrecorded accumulation of foreign cash from foreign tourist spending, and/or partly results from overstated tourism income in the official statistics.However, even after excluding this item from the calculation of capital flight, the remaining unrecorded accumulation of foreign assets over the period is still substantial. Consequently, if these unrecorded flows are taken into account, Croatia’s net international investment position is improved.

Eco-nomics: Are the Planet-Unfriendly Features of Capitalism Barriers to Sustainability?

OpenAIRE

Merrill Singer

2010-01-01

This paper argues that there are essential features of capitalist modes of production, consumption, and waste dispersal in interaction with the environment and its built-in systemic features that contradict long-term sustainable development. These features include: (a) contradictions in the origin and meaning of sustainability; (b) the central role of the productivity ethic in capitalism and its reproduction in emergent green capitalism; (c) the commodification of nature and the continued pro...

New variables for detecting transport disadvantages. The role of social capital

Energy Technology Data Exchange (ETDEWEB)

Ciommo, F. di

2016-07-01

This paper explores the potential role of social capital variables on the transport mode choice. Traditionally travel behavior model included social capital as empowerment factor (i.e. social capital as substitute of financial capital) or as social network influence on travel choice. Only recently constraints of social capital are considered as factors influencing travel behavior (Swanen et al, 2015, Di Ciommo & Martens, 2015).This article will show both aspects of empowerments and constraints of social capital in a dynamic way stressing two dynamic aspects of social capital: the building up social capital and use of social capital. Both aspects are related with the value of time: when you are doing something for others ( i.e. Voluntary actions, pick up all family members, etc) you are loosing your time, and your mode choice will be oriented to saving time, therefore a private mode will be chosen, while when you are using your social capital benefit (somebody else is helping you), you will easily choose the less flexible and more time consuming public transport. After defining social capital notion in both aspects of empowerments and constraints, a set of social capital variables is defined. Then two of these variables are tested through a smartphone short panel survey, where 100 individuals living or working in one surrounding southern area of Madrid have participated in entering their travel data for an entire working week. The estimated mixed-logit model that incorporated two “social capital variables: participation in voluntary activities and receiving help for various tasks (i.e. child care) show how people who have less social capital, but that are trying to build it up choose more private than public modes: building social capital stock has a cost in term of time that push people to use more flexible transport mode (i.e. private car), while people who have already a stock of social capital and can use it (i.e. helped people) receive time from others and

Hot spot model of MagLIF implosions: Nernst term effect on magnetic flux losses

Science.gov (United States)

Garcia Rubio, Fernando; Sanz Recio, Javier; Betti, Riccardo

2016-10-01

An analytical model of a collisional plasma being compressed by a cylindrical liner is proposed and solved in a magnetized liner inertial fusion-like context. The implosion is assumed to be isobaric, and the magnetic diffusion is confined to a thin layer near the liner. Both unmagnetized and magnetized plasma cases are considered. The model reduces to a system of two partial differential equations for temperature and magnetic field. Special attention is given to the effect of the Nernst term on the evolution of the magnetic field. Scaling laws for temperature, magnetic field, hot spot mass increase and magnetic field losses are obtained. The temperature and magnetic field spatial profiles tend to a self-similar state. It is found that when the Nernst term is taken into account, the magnetic field is advected towards the liner, and the magnetic flux losses are independent of the magnetic Lewis number. Research supported by the Spanish Ministerio de Economía y Competitividad, Project No. ENE2014-54960R. Acknowledgements to the Laboratory of Laser Energetics (Rochester) for its hospitality.

26 CFR 1.1446-2 - Determining a partnership's effectively connected taxable income allocable to foreign partners...

Science.gov (United States)

2010-04-01

... section 754 (see § 1.743-1(j)). The character of effectively connected partnership items (capital versus... of a partner's basis in the partnership, see section 704(d)) or any capital loss carrybacks or... A's allocable share of partnership ECTI, the amount of the long-term capital loss that may be taken...

Selection of intellectual capital management strategies

Directory of Open Access Journals (Sweden)

Shcherbachenko Viktoriia Oleksiivna

2016-02-01

Full Text Available This article deals with the selection of intellectual capital management strategy. The attention is paid to the structure of intellectual capital, which consists of human capital, customer capital, process capital, intellectual property, intangible assets. The algorithm of selection of intellectual capital management strategy was created by author.

Searching for social capital: historical perspectives on health, poverty and culture.

Science.gov (United States)

Welshman, John

2006-11-01

Social capital has been seen as having a positive effect on health, and the concept of social capital has been viewed as of central importance to debates about healthy, sustainable communities. More generally, behaviour and its relationship with health has become much more central to policy-making, as illustrated in the Choosing Health White Paper (2005), and the concept of social capital has been one influence on the concept of social exclusion. Robert Putnam's arguments, both those expressed in Making Democracy Work (1993) and the revised version seen in Bowling Alone (2000) have been taken up by numerous social scientists and policy-makers. But despite the explicitly historical perspective that Putnam employs in Bowling Alone in particular, the history of social capital remains rather neglected in the available literature. This article is concerned with providing a historical perspective on social capital, especially the ways in which social investigators have viewed the relationships between health, poverty and behaviour. The article puts social capital alongside that of 'underclass' concepts such as the culture of poverty thesis, and examines how the latter has been invented and reinvented in the U.K. and the U.S.A. over the last 120 years. It argues that there are important similarities between the culture of poverty and social capital, but also significant differences, and these have implications for current policy initiatives. One way of analysing concepts like social capital and social exclusion more rigorously is by locating them within this longer-term history of social investigation, in which debates about health, poverty, and culture have been of

Private Equity and Regulatory Capital

NARCIS (Netherlands)

Bongaerts, D.; Charlier, E.

2008-01-01

Regulatory Capital requirements for European banks have been put forward in the Basel II Capital Framework and subsequently in the Capital Requirements Directive (CRD) of the EU. We provide a detailed discussion of the capital requirements for private equity investments under the simple risk weight

The effect of human capital, social capital, and perceptual values on nascent entrepreneurs' export intentions

DEFF Research Database (Denmark)

Christensen, Poul Rind; Evald, Majbritt Rostgaard; Klyver, Kim

2011-01-01

This study investigates the influence of human capital, social capital, and cognition on nascent entrepreneurs' export intentions. The results indicate that while human capital and social capital influence the level of intended export, cognitive characteristics, such as self-efficacy and risk...

Measuring Social Capital Investment: Scale Development and Examination of Links to Social Capital and Perceived Stress

Science.gov (United States)

Wegner, Rhiana; Gong, Jie; Fang, Xiaoyi; Kaljee, Linda

2014-01-01

Individuals with greater social capital have better health outcomes. Investment in social capital likely increases one’s own social capital, bearing great implications for disease prevention and health promotion. In this study, the authors developed and validated the Social Capital Investment Inventory (SCII). Direct effects of social capital investment on perceived stress, and indirect effects through social capital were examined. 397 Participants from Beijing and Wuhan, China completed surveys. Analyses demonstrated that the SCII has a single factor structure and strong internal consistency. Structural equation modeling showed that individuals who invested more in social capital had greater bonding social capital, and subsequently less perceived stress. Results suggest that disease prevention and health promotion programs should consider approaches to encourage social capital investment; individuals may be able to reduce stress by increasing their investment in social capital. Future research is needed to provide additional empirical support for the SCII and observed structural relationships. PMID:25648725

Moral Economy and Moral Capital in the Community of Clinical Practice.

Science.gov (United States)

Jaye, Chrystal; Young, Jessica; Egan, Tony; Williamson, Martyn

2018-03-01

This New Zealand study used focused ethnography to explore the activities of communities of clinical practice (CoCP) in a community-based long-term conditions management program within a large primary health care clinic. CoCP are the informal vehicles by which patient care was delivered within the program. Here, we describe the CoCP as a micro-level moral economy within which values such as trust, respect, authenticity, reciprocity, and obligation circulate as a kind of moral capital. As taxpayers, citizens who become patients are credited with moral capital because the public health system is funded by taxes. This moral capital can be paid forward, accrued, banked, redeemed, exchanged, and forfeited by patients and their health care professionals during the course of a patient's journey. The concept of moral capital offers another route into the "black box" of clinical work by providing an alternative theoretic for explaining the relational aspects of patient care.

Impact of Debt Capital on Outreach and Efficiency Of Microfinance ...

African Journals Online (AJOL)

Impact of Debt Capital on Outreach and Efficiency Of Microfinance ... donation or government grants should be sustained in a long term to enable MFIs reach the poor who cannot afford high interest rates charged by debt financed MFIs.

Sources of Regional Banks Capitalization

Directory of Open Access Journals (Sweden)

Olga Sergeevna Miroshnichenko

2018-03-01

Full Text Available Searching of sources to increase the capitalization of Russian banks is an important economic problem for both the national and regional economy. Moreover, a strong capital base allows to credit institutions to meet the demands of economic agents for banking service. The research focuses on the choice of sources of regulatory capital for the banks of Tyumen region in the context of changing supervisory requirements in the period of 2005–2016, in different phases of the business cycle. We apply econometric methods of statistical information using IBM SPSS Statistics software. We have calculated the individual correlations of regional banks’ capital with gross domestic product (GDP (excluding gross regional product (GRP and GRP (with the exception of the effect of GDP. These calculations have shown that the capital of regional banks is related only to GDP. The increase in the capital of regional banks is accompanied by a change in its structure: the share of authorized capital has halved, and the share of subordinated debt has grown. All sources of capital, other than the reserve fund, are related to GDP. Authorized capital is associated with the profit of profitable lending institutions; retained earnings in the capital of regional banks — with the aggregated amount of risks of the banking system of the Russian Federation. Subordinated debt, like capital as a whole, is negatively affected by the profitability of the banking sector. The change in the capital of regional banks is determined by the change in retained earnings, subordinated debt and reserve fund. Modelling of these relations has allowed to obtain a system of equations. This system synthesizes linear regression models of changing the capital of regional banks in the context of their sourcing. The results of this study are significant for theoretical justification and practical development of a balanced financial policy of regional banks. Our research will contribute to

26 CFR 1.162-19 - Capital contributions to Federal National Mortgage Association.

Science.gov (United States)

2010-04-01

... issuance price (the amount of capital contributions evidenced by a share of stock) over the fair market... sale to FNMA of mortgage paper gives rise to the issuance of a share of FNMA stock during a taxable... gain or loss from the sale to FNMA of mortgage paper, with respect to which a share of FNMA stock is...

75 FR 6151 - Minimum Capital

Science.gov (United States)

2010-02-08

... capital and reserve requirements to be issued by order or regulation with respect to a product or activity... minimum capital requirements. Section 1362(a) establishes a minimum capital level for the Enterprises... entities required under this section.\\6\\ \\3\\ The Bank Act's current minimum capital requirements apply to...

Structural and performance costs of reproduction in a pure capital breeder, the Children's python Antaresia childreni.

Science.gov (United States)

Lourdais, Olivier; Lorioux, Sophie; DeNardo, Dale F

2013-01-01

Females often manage the high energy demands associated with reproduction by accumulating and storing energy in the form of fat before initiating their reproductive effort. However, fat stores cannot satisfy all reproductive resource demands, which include considerable investment of amino acids (e.g., for the production of yolk proteins or gluconeogenesis). Because capital breeders generally do not eat during reproduction, these amino acids must come from internal resources, typically muscle proteins. Although the energetic costs of reproduction have been fairly well studied, there are limited data on structural and performance costs associated with the muscle degradation required to meet amino acid demands. Thus, we examined structural changes (epaxial muscle width) and performance costs (constriction and strength) over the course of reproduction in a pure capital breeder, the children's python (Antaresia childreni). We found that both egg production (i.e., direct resource allocation) and maternal care (egg brooding) induce muscle catabolism and affect performance of the female. Although epaxial muscle loss was minimal in nonreproductive females, it reached up to 22% (in females after oviposition) and 34% (in females after brooding) of initial muscle width. Interestingly, we found that individuals with higher initial muscular condition allocated more of their muscle into reproduction. The amount of muscle loss was significantly linked to clutch mass, underscoring the role of structural protein in egg production. Egg brooding significantly increased proteolysis and epaxial loss despite no direct allocation to the offspring. Muscle loss was linked to a significant reduction in performance in postreproductive females. Overall, these results demonstrate that capital-breeding females experience dramatic costs that consume structural resources and jeopardize performance.

Did capital market convergence lower the effectiveness of monetary policy?

NARCIS (Netherlands)

Jansen, P.W.

2009-01-01

International capital market convergence reduces the ability for monetary authorities to set domestic monetary conditions. Traditionally, monetary policy transmission is channelled through the short-term interest rate. Savings and investment decisions are effected through the response of the bond

Individual loss reserving with the Multivariate Skew Normal model

NARCIS (Netherlands)

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

2011-01-01

In general insurance, the evaluation of future cash ows and solvency capital has become increasingly important. To assist in this process, the present paper proposes an individual discrete-time loss re- serving model describing the occurrence, the reporting delay, the timeto the first payment, and

Working capital, profitability, liquidity and solvency of healthcare insurance companies

Directory of Open Access Journals (Sweden)

André Luiz de Souza Guimarães

2010-01-01

Full Text Available The purpose of this study is to analyze the adequacy of a working capital management normative model, in terms of profitability, liquidity and solvency. Through an empirical and analytical research, the analysis of variance results (ANOVA of a sample containing financial information from 621 healthcare insurance companies for the year 2006 ,show that different working capital structures are associated with different levels of profitability, liquidity and solvency, suggesting a preference order different from the one theorized by Fleuriet / Braga. The results indicate that a certain structure - where financial current assets exceed onerous current liabilities, and cyclical current assets exceed cyclical current liabilities ¿ is associated with higher levels of profitability, liquidity and solvency. In addition, the study reiterates the importance of efficient management of working capital to the performance and survival of healthcare insurance companies.

Making and Mining Intellectual Capital: Method or Madness?

Science.gov (United States)

Cohen, Stephen L.; Backer, Nena K.

1999-01-01

A process for creating and managing intellectual capital within an organization has the following stages: (1) inquire about causes and effects and infer the implications; (2) invent solutions and inspire others with a cause for change; and (3) install solutions and inspect over the long term to see what is and is not working. (JOW)

Competitive Sport and Social Capital in Rural Australia

Science.gov (United States)

Tonts, Matthew

2005-01-01

Sport is often regarded as an important part of life in rural Australia, contributing to community identity, sense of place, social interaction and good health. The involvement of rural citizens in sport also has the potential to contribute to social capital. Understood in simple terms as norms of reciprocity and associational life, social capital…

Wake Me Up Before You CoCo : Implications of contingent convertible capital for financial regulation

NARCIS (Netherlands)

Chan, S.

2017-01-01

Contingent convertible capital (CoCo) is designed to improve the loss absorption capacity of the issuing bank without resorting to new equity or taxpayer-funded bailouts. However attractive they might seem to the regulator, they may have undesirable and unexpected consequences. This dissertation

Linking social capital, cultural capital and heterotopia at the folk festival

Directory of Open Access Journals (Sweden)

Linda Wilks

2016-06-01

Full Text Available This paper investigates the role of folk festivals in transforming interconnections between people, space and culture. It interlinks three sets of theoretical ideas: social capital, cultural capital and heterotopia to suggest a new conceptual framework that will help to frame a deeper understanding of the nature of celebration. Qualitative data were collected at two long-established folk festivals, Sidmouth Folk Festival in southern England and the Feakle Traditional Music Festival in western Ireland, in order to investigate these potential links. Although Foucault did not fully develop the concept of heterotopia, his explanation that heterotopias are counter-sites, which, unlike utopias, are located in real, physical, space-time, has inspired others, including some festival researchers, to build on his ideas. This study concludes that the heterotopian concept of the festival as sacred space, with the stage as umbilicus, may be linked to the building of social capital; while it is suggested that both social capital and appropriate cultural capital are needed to gain full entry to the heterotopia.

Capital Budgeting: a Tax Shields’ “Mirage”?

Directory of Open Access Journals (Sweden)

Victor DRAGOTĂ

2011-03-01

Full Text Available The mainstream in Finance studies recognizes the impact of tax shields on capital budgeting. This study offers some evidences regarding a bias in direct investment projects valuation in the case of taking into account of the allowance of recovery of the losses recorded in the past financial exercises from future profits as long as the classical indicators (e.g., Net Present Value are used. Also, this tax regime seems to favour the adoption of less-performer projects by lessperformer companies, as long as these projects should be otherwise rejected by a performer company.

Performance systems and social capital

DEFF Research Database (Denmark)

Rasmussen, Grane Mikael Gregaard; Edwards, Kasper

2014-01-01

Performance systems and social capital are considered mutually exclusive. Contemporary studies show that social capital is essential in generating performance improvement. This raises an important question: “How do performance systems and social capital correspond?” This study draws on findings...... from a study on implementation of a performance system in Danish construction. The results show causalities between implementing the performance system and the emergence of social capital in construction projects. Results indicate that performance systems and social capital is not mutually exclusive...

Psychological Capital, Career Identity and Graduate Employability in Uganda: The Mediating Role of Social Capital

Science.gov (United States)

Ngoma, Muhammad; Dithan Ntale, Peter

2016-01-01

This paper seeks to evaluate the relationship between psychological capital, career identity, social capital and graduate employability. We also seek to evaluate the mediating role of social capital on the relationships between psychological capital, career identity and graduate employability in Uganda. A population of 480 unemployed young people…

Value Relevance dari Intangible Assets Bagi User di Capital Market (suatu Tinjauan Literatur)

OpenAIRE

Muliawati

2014-01-01

Capital market facilitate buying and selling long term securities. There are many parties involved in capital markets include investors, issuers (companies) and regulators. Agency problems arises when there are conflict of interest between the needs of principals (investors) and agents (companies or issuers). This problem is caused by information asymmetry. Financial statements are principal means through which a company communicate its financial information to interested parties. Financial s...

Peer mentoring programs benefits in terms of civic engagement and social capital

OpenAIRE

Šedinová, Petra

2014-01-01

The main goal this diploma thesis is to explore the influence of peer mentoring programs as a tool of community intervention for children and adolescents from the point of view of civic engagement and social capital. The influence is assessed to the recipients of mentoring programs care- to children and adolescents exposed to risk factors or risk environment. This thesis is secondary analysis of Mentoring programs evaluating research in mentoring programs Big Brother Big Sisters- Pět P in Cze...

Long-term prospects of capital demands of nuclear power sources construction in Czechoslovakia

International Nuclear Information System (INIS)

Sladek, V.; Kysel, J.

1988-01-01

The capital demands are compared for four variants of nuclear power plant construction projects to be implemented in Czechoslovakia by the year 2030. By the year 2000, all variants are expected to achieve the total installed capacity of 11,280 MW. Construction in the following period then differs: by the year 2030 total installed nuclear capacity is to reach the following values: 1st variant - 30,000 MW; 2nd variant - 35,000 MW, 3rd variant - 36,500 MW and 4th variant - 27,760 MW. WWER-1000, WWER-1500 and WWER-500 reactors are expected to be installed in the variant projects which differ in speed of construction and life of the units. They are designed such as to provide for the smooth transfer of building workers from one site to the next. The comparison of capital demands shows that a suitable siting strategy and site preparation can save costs and preclude serious sociological problems. The possible extension of the life of nuclear power plants will provide for a better use of primary investments and improve the economic efficiency of nuclear power plants. (Z.M.). 2 figs., 4 tabs., 6 refs

Using Executive Information Systems to Manage Capital Projects and Facilities.

Science.gov (United States)

Kaynor, Robert

1993-01-01

In higher education, facilities data are essential for long-term capital and financial planning and for testing assumptions underlying anticipated policy change. Executive information systems should incorporate life-cycle considerations (planning, construction, renovation, and management) and resource linkages (describing interrelationships of…

Capital Equipment Replacement Decisions

OpenAIRE

Batterham, Robert L.; Fraser, K.I.

1995-01-01

This paper reviews the literature on the optimal replacement of capital equipment, especially farm machinery. It also considers the influence of taxation and capital rationing on replacement decisions. It concludes that special taxation provisions such as accelerated depreciation and investment allowances are unlikely to greatly influence farmers' capital equipment replacement decisions in Australia.

STAFF AND COMPANY VALUE MANAGEMENT ON THE BASIS OF HUMAN CAPITAL ESTIMATION

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Dokukina S. M.

2014-09-01

Full Text Available The statement «the main asset of any company is its staff» has already become axiomatic. People is the only competitive advantage the companies have now, although for many years the possession of technologies is considered as a competitive advantage. The article covers essential questions connecting with staff management to executive strategy of value based management. The problems connected with the estimation of human capital as long-term factor of the company’s value growth are described. However one can implement in practice only in condition that it may be estimated or measured. The author puts forth his conception of the technique of human capital estimation. Approaches and methods of the estimation of human capital of company are systematized and described. The estimation of human capital elements allows to find out the potential of this intangible asset in order to increase the value of company.

Intellectual Capital Management in Transport Sector

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Asta Znakovaitė

2011-03-01

Full Text Available This article presents an analysis of intellectual capital; its management, features and processes by which intellectual capital of a company can be evaluated. The main elements of intellectual capital (human, structural and relationship capital are presented and used in research. After surveying bibliography, intellectual capital evaluation model, which applies to Lithuanian and Latvian companies operating in the transport sector, is created. The research is based on the value-added intellectual capital factor model, the relationship between indicators, multi-asset return correlation and regression analysis and generation of alternatives to intellectual capital performance-enhancing. Following an assessment of intellectual capital of Lithuanian and Latvian transport sectors, on the basis of the results, it was found that the intellectual capital is a key factor in corporation management to increase revenue. Article in Lithuanian

The Impact of Capital Structure on Stock Returns: International Evidence

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Reza TAHMOORESPOUR

2015-03-01

Full Text Available This study examines the relationship between capital structure and stock returns of firms in the following eight countries in the Asia Pacific regionfor a period of 22 years from 1990 to 2012. The methodology is Panel Regression. The results indicate that the effect of capital structure depends on the nature of industry as well as market. In Australia, China, and Korea, return of companies in the Basic Material industry have negative relationship with debt to common equity. Long term debt to common equity positively affects the return of firms in Australia and Korea in the Basic Material industry.

Some adjustments to the human capital and the friction cost methods.

Science.gov (United States)

Targoutzidis, Antonis

2018-03-21

The cost of lost output is a major component of the total cost of illness estimates, especially those for the cost of workplace accidents and diseases. The two main methods for estimating this output, namely the human capital and the friction cost method, lead to very different results, particularly for cases of long-term absence, which makes the choice of method a critical dilemma. Two hidden assumptions, one for each method, are identified in this paper: for human capital method, the assumption that had the accident not happened the individual would remain alive, healthy and employed until retirement, and for friction cost method, the assumption that any created vacancy is covered by an unemployed person. Relevant adjustments to compensate for their impact are proposed: (a) to depreciate the estimates of the human capital method for the risks of premature death, disability or unemployment and (b) to multiply the estimates of the friction cost method with the expected number of job shifts that will be caused by a disability. The impact of these adjustments on the final estimates is very important in terms of magnitude and can lead to better results for each method.

Initial capital structure of portuguese innovative firms : the role of nascent entrepreneurs' human capital

OpenAIRE

Couto, Eduardo; Bilau, José

2011-01-01

The aim of this study is to analyse whether the human capital of the nascent entrepreneur influences the initial capital structure of Portuguese innovative firms. The research model used includes a dependent binary variable devised to check the initial capital structure, two groups of independent variables referring to the human capital and a group of control variables. The results obtained through logistic regression show that "heterogeneity of professional experience" positively influences ...

The effects of social structure and social capital on changes in smoking status from 8th to 9th grade: results of the Child and Adolescent Behaviors in Long-term Evolution (CABLE) study.

Science.gov (United States)

Chen, Chun-Yuan; Wu, Chi-Chen; Chang, Hsing-Yi; Yen, Lee-Lan

2014-05-01

Social structure and social capital are important variables for public health strategies seeking to prevent smoking among adolescents. The purpose of this study was to examine the relationships between social structure, social capital and changes in smoking status from the 8th to 9th grade in Taiwan. Data were obtained from the Child and Adolescent Behaviors in Long-term Evolution (CABLE) project. The study analyzed a final sample of 1937 students (50.7% female). Each layer of social structure was associated with a particular form of social capital. Students whose parents were married and living together had higher family social capital. After controlling for background variables, the social structure variable of friends who smoke was significantly associated with changes in smoking status. Students reporting more school attachment were less likely to start smoking. Students with higher parental supervision was associated with less chance of being a consistent smoker, whereas participation of social organization outside of school was associated with continued smoking. Attending school club was associated with higher probability of smoking cessation. Smoking prevention and intervention strategies aimed at junior high school students should be tailored to the particular form of social capital important for each type of smoking status. Copyright © 2013 Elsevier Inc. All rights reserved.

STATISTICAL MODELS OF REPRESENTING INTELLECTUAL CAPITAL

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Andreea Feraru

2016-06-01

Full Text Available This article entitled Statistical Models of Representing Intellectual Capital approaches and analyses the concept of intellectual capital, as well as the main models which can support enterprisers/managers in evaluating and quantifying the advantages of intellectual capital. Most authors examine intellectual capital from a static perspective and focus on the development of its various evaluation models. In this chapter we surveyed the classical static models: Sveiby, Edvisson, Balanced Scorecard, as well as the canonical model of intellectual capital. Among the group of static models for evaluating organisational intellectual capital the canonical model stands out. This model enables the structuring of organisational intellectual capital in: human capital, structural capital and relational capital. Although the model is widely spread, it is a static one and can thus create a series of errors in the process of evaluation, because all the three entities mentioned above are not independent from the viewpoint of their contents, as any logic of structuring complex entities requires.

"Capitalizing on Sport": Sport, Physical Education and Multiple Capitals in Scottish Independent Schools

Science.gov (United States)

Horne, John; Lingard, Bob; Weiner, Gaby; Forbes, Joan

2011-01-01

This paper draws on a research study into the existence and use of different forms of capital--including social, cultural and physical capital--in three independent schools in Scotland. We were interested in understanding how these forms of capital work to produce and reproduce "advantage" and "privilege". Analysis is framed by…

PENGARUH KINERJA INTELLECTUAL CAPITAL TERHADAP KINERJA INTELLECTUAL CAPITAL PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI

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Windri Windri

2010-11-01

Full Text Available The aims of this study are to analyze the effect of intellectual capital performance on intellectualcapital disclosure in annual report of manufacturing company listed in Indonesia Stock Exchange(IDX period 2004-2006 and to analyze the level of intellectual capital disclosure in annualreport period 2004-2006. 50 companies was taken as samples in the research.This paper usescontent analysis to compile a measure of disclosure on each annual report of manufacturingcompany and statistical analysis to test whether intellectual capital performance has a positiveeffect to intellectual capital disclosure. Based on statistical analysis, it is concluded that theintellectual capital performance and firm size have a positive effect to intellectual capitaldisclosure. Leverage has no effect to intellectual capital disclosure. The result of content analysisshows that the intellectual capital disclosure in annual report of manufacturing company period2004-2006 are less than 50%.

Efficacy of a Conservative Weight Loss Program in the Long-Term Management of Chronic Upper Airway Obstruction

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Ryan C. Case

2009-01-01

Full Text Available Objective. Obesity is a significant contributor to oxygen demand and dynamic airway obstruction. The objective of the current study is to determine the long-term success of conservative measures directed toward weight reduction on airway management without respect to specific airway disease etiology. Methods. Patients with chronic airway obstruction secondary anatomic lesions or obstructive sleep apnea were recruited and followed prospectively. Demographics, initial and final weights, diagnosis, and followup information were recorded. Patients were referred to a registered dietician, provided counseling, and started on a weight-loss regimen. Outcome measures were change in body mass index (BMI and rate of decannulation from weight loss alone. Results. Of fourteen patients, ten remained tracheostomy-dependent and four had high-grade lesions with the potential for improvement in oxygen demand and dynamic airway collapse with weight loss. The mean follow up period was 25 months. The mean change in BMI was an increase of 1.4 kg/m2 per patient. Conclusions. Conservative measures alone were not effective in achieving weight reduction in the population studied. This may be due to comorbid disease and poor compliance. The promise of decannulation was an insufficient independent motivator for weight loss in this study. Although the theoretical benefits of weight loss support its continued recommendation, the long-term success rate of conservative measures is low. More aggressive facilitated interventions including pharmacotherapy or bariatric surgery should be considered early in the course of treating airway disease complicated by obesity.

Social networking sites (SNS); exploring their uses and associated value for adolescent mothers in Western Australia in terms of social support provision and building social capital.

Science.gov (United States)

Nolan, Samantha; Hendricks, Joyce; Towell, Amanda

2015-09-01

to explore the use of social networking sites (SNS) by adolescent mothers in Western Australia (WA) in relation to social support and the building of social capital. a constructionist narrative inquiry approach was employed to guide the research design and processes. Approval was gained from the university human ethics department. Sampling was purposeful and data were collected using in-depth interviews with seven adolescent mothers in WA. interviews were undertaken within the homes of adolescent mothers across WA. from within three fundamental domains of social support; tangible, emotional and informational support, provided by SNS use, five key themes were identified from the narratives. 'Social connectedness' was identified as a form of tangible support, sometimes termed 'practical' or 'instrumental' support. This theme incorporates connectedness with family, friends, and peers and across new and existing social groups. Three themes were identified that relate to emotional support; 'increased parenting confidence'; 'reduced parental stress' and 'enhanced self-disclosure' afforded by use of SNS. 'Access to information' was identified in terms of informational support, with participants often highlighting SNS use as their primary portal for information and advice. the findings of this study suggest that SNS use affords adolescent mothers in WA access to tangible, informational and emotional support and thus is a valuable source of social capital for these mothers. This study provides a platform for further exploration into this phenomenon, and possible implications include the potential for midwives and health care professionals to promote the benefits of SNS use with, and for, this group of mothers, or to incorporate SNS use into modern health care practices to further develop the potential for improved social capital related outcomes for them. Copyright © 2015 Elsevier Ltd. All rights reserved.

47 CFR 65.304 - Capital structure.

Science.gov (United States)

2010-10-01

... 47 Telecommunication 3 2010-10-01 2010-10-01 false Capital structure. 65.304 Section 65.304... OF RETURN PRESCRIPTION PROCEDURES AND METHODOLOGIES Exchange Carriers § 65.304 Capital structure. The proportion of each cost of capital component in the capital structure is equal to: Proportion in the capital...

Individual loss reserving with the Multivariate Skew Normal distribution

NARCIS (Netherlands)

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

2012-01-01

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

Individual loss reserving with the multivariate skew normal framework

NARCIS (Netherlands)

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

2013-01-01

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

The Effect of Cognitive and Relational Social Capital on Structural Social Capital and Micro-Enterprise Performance

Directory of Open Access Journals (Sweden)

Rajennd A/L Muniady

2015-10-01

Full Text Available Social capital and its dimensions are highly interrelated, and the outcome of social capital provides entrepreneurs with resources and knowledge that are not available in the first place. The objective of this study is to examine the effect of relational and cognitive social capital on structural social capital and the effect of structural social capital on the performance of micro-enterprises owned and managed by women in Peninsular Malaysia. This study uses a cross-sectional approach, and quantitative data are collected through structured interviews. It was found that cognitive social capital has a significant positive effect on structural social capital, and structural social capital has a significant positive effect on micro-enterprise performance. It was found that relational social capital has a positive but insignificant effect on structural social capital. Therefore, women entrepreneurs should emphasize on making the communication process easier and on ensuring that their business values, norms, interpretation, and meaning are shared and communicated to relevant parties to improve network ties and to build a dense network, which is essential in providing access to resources and knowledge. This, in return, is expected to improve the micro-enterprise performance in Malaysia.

World wide spatial capital.

Science.gov (United States)

Sen, Rijurekha; Quercia, Daniele

2018-01-01

In its most basic form, the spatial capital of a neighborhood entails that most aspects of daily life are located close at hand. Urban planning researchers have widely recognized its importance, not least because it can be transformed in other forms of capital such as economical capital (e.g., house prices, retail sales) and social capital (e.g., neighborhood cohesion). Researchers have already studied spatial capital from official city data. Their work led to important planning decisions, yet it also relied on data that is costly to create and update, and produced metrics that are difficult to compare across cities. By contrast, we propose to measure spatial capital in cheap and standardized ways around the world. Hence the name of our project "World Wide Spatial Capital". Our measures are cheap as they rely on the most basic information about a city that is currently available on the Web (i.e., which amenities are available and where). They are also standardized because they can be applied in any city in the five continents (as opposed to previous metrics that were mainly applied in USA and UK). We show that, upon these metrics, one could produce insights at the core of the urban planning discipline: which areas would benefit the most from urban interventions; how to inform planning depending on whether a city's activity is mono- or poly-centric; how different cities fare against each other; and how spatial capital correlates with other urban characteristics such as mobility patterns and road network structure.

World wide spatial capital.

Directory of Open Access Journals (Sweden)

Rijurekha Sen

Full Text Available In its most basic form, the spatial capital of a neighborhood entails that most aspects of daily life are located close at hand. Urban planning researchers have widely recognized its importance, not least because it can be transformed in other forms of capital such as economical capital (e.g., house prices, retail sales and social capital (e.g., neighborhood cohesion. Researchers have already studied spatial capital from official city data. Their work led to important planning decisions, yet it also relied on data that is costly to create and update, and produced metrics that are difficult to compare across cities. By contrast, we propose to measure spatial capital in cheap and standardized ways around the world. Hence the name of our project "World Wide Spatial Capital". Our measures are cheap as they rely on the most basic information about a city that is currently available on the Web (i.e., which amenities are available and where. They are also standardized because they can be applied in any city in the five continents (as opposed to previous metrics that were mainly applied in USA and UK. We show that, upon these metrics, one could produce insights at the core of the urban planning discipline: which areas would benefit the most from urban interventions; how to inform planning depending on whether a city's activity is mono- or poly-centric; how different cities fare against each other; and how spatial capital correlates with other urban characteristics such as mobility patterns and road network structure.

Basic Income, Productivity and Cognitive Capitalism

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Andrea Fumagalli

2014-01-01

Full Text Available In this article, basic income (BI will not be considered as a measure to raise living standards and social well-being. Rather, it will be presented as an indispensable structural policy for achieving a healthier social order governed by a more equitable compromise between capital and labor. Embracing the French Regulation School approach, we maintain that such a compromise is founded on the redistribution of productivity gains. Describing the dynamics of productivity enables a better understanding of the main features and development of contemporary capitalism. In advancing our argument, we focus on the socioeconomic transformation that has overtaken the Fordist paradigm within Western countries and propose the term ‘‘cognitive capitalism’’ to describe the new economic system. We argue that BI can be seen as a viable economic policy able to contrast the instability generated by the present form(s of accumulation, as it increases productivity through network and learning processes.

GOVERNMENT INTERVENTIONS IN THE VENTURE CAPITAL MARKET HOW JEREMIE AFFECTS THE HUNGARIAN VENTURE CAPITAL MARKET?

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Fazekas Balazs

2014-07-01

Full Text Available JEREMIE (Joint European Resources for Micro to Medium Enterprises program was implemented as a part of the EU cohesion policy in the framework of 2007-2013 programming period. The primary objective of the program was to enhance the financing prospects of SME’s through structural funds that provide financial engineering instruments like loan, guarantee and venture capital. This paper focuses on the effects of JEREMIE on Hungary’s venture capital market. Since 2010, 28 JEREMIE backed venture capital funds were founded in four rounds and 130 billion HUF capital was allocated into these funds with the contribution of Hungarian government. A well-established venture capital market can boost entrepreneurship and innovation, therefore economic growth which is the foundation of government involvement. On the other hand, there is an extensive literature highlighting the limits and possible drawbacks of the active role of public sector in the venture capital market. There is a consensus in the literature that in the long run the extensive role of government in venture capital industry is counterproductive. Substituting market participants by government agencies will hardly result in a competitive and efficient market. However, temporarily as a catalyst public sector can contribute to the development of venture capital market. Direct government intervention supportable temporarily only in the infancy of the industry. The primary objective of every program must be to develop the market to the level where it becomes self-sustaining. This way the success of these programs must not be measured only by the amount of invested capital, financial performance of venture capital funds and venture capital backed companies. Raising private sector awareness and the progress of necessary institutions are also the criteria of a successful program. During the design and implementation of venture capital agendas these aspects must be taken into consideration. This

Trinidadian capitalism

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Kevin A. Yelvington

1999-07-01

Full Text Available [First paragraph] Capitalism: An Ethnographic Approach. DANIEL MILLER. Oxford: Berg, 1997. x + 357 pp. (Cloth £39.00, Paper £17.99 Women, Labour and Politics in Trinidad and Tobago: A History. RHODA E. REDDOCK. London: Zed, 1994. vi + 346 pp. (Cloth £39.95, Paper £15.95 Despite the underdeveloped state of the scholarship on its admittedly short sugar plantation slavery period, we now have a corpus of studies on various aspects of capitalism in Trinidad - from its historical advent (Sebastien 1978 to its twentieth-century manifestation in the petroleum sector (Seers 1964; Sandoval 1983, and from the ethnic structure of labor markets (Camejo 1971; Harewood 1971 and the role of capitalism in racial/ethnic inequality (Henry 1993; Coppin & Olsen 1998 to the way ethnicity affects business, big (Button 1981; Parris 1985; Centre for Ethnic Studies 1993 and small (Ryan & Barclay 1992; Griffith 1997, and the way ethnicity and gender are used in class recruitment (Yelvington 1995. There are also a number of fine working-class histories (e.g., Rennie 1973; Ramdin 1982; Basdeo 1983 and important works on the labor riots and strikes and the nature of the colonial state during the crises of the 1930s (e.g., Thomas 1987; Singh 1994. The two books under review here complement the works mentioned above, and they complement each other as well: Reddock's deals with the way capitalism up to the mid-century was buttressed by colonial politics, and explores how this formation engendered certain kinds of political responses, while Miller approaches capitalism through the assumption that fundamental changes in the post-Oil Boom period (ca. 1973-80 brought about considerable autonomy between production and consumption that can and should now be read through an analysis of the cultural circulation of images and commodities in the society. These books are both noteworthy because they engage in explicit theorizing on what capitalism was and is, and what it did and

The complexity of self-regulating food intake in weight loss maintenance. A qualitative exploration among short- and long-term weight loss maintainers

DEFF Research Database (Denmark)

Pedersen, Susanne; Sniethotta, Falko; Sainsbury, Kirby

Objective: The aim of this study was to better understand whether self-regulation of food intake in WLM differs in the challenging transition from being a short-term maintainer (having maintained without regaining less than 12 months) to a long-term maintainer (having maintained without regaining....../storing, preparing/cooking, eating, and general barriers and resources in WLM. Post-hoc coding was applied based on self-regulation strategies and self-efficacy beliefs, and thematic analysis was also applied to identify additional themes. A content analysis approach using NVivo 11 highlighted the differences...... describe and understand the self-regulatory strategies related to food intake in WLM. Methods: Individual interviews (14 female/5 male) were conducted with 9 Danish short- and 10 long-term weight loss maintainers. Initial codes were based on five themes related to food intake: planning, shopping...

Social Capital in Asia

DEFF Research Database (Denmark)

Li, Peter Ping; Redding, Gordon

2014-01-01

This article provides an overview of social capital in Asia. Social capital is trust and appears in two main forms: relational, based on societal norms, and systemic, based on societal institutions. The relational encourages personalistic transactions; and systemic trust, supports more formal......, and usually larger, transactions backed by law. For economic development, the systemic form becomes crucial but needs to be compatible with relational norms. The dimensions of social capital are often dual in nature. This article employs a theory that accepts this and analyses the phenomena as yin......–yang balancing, seeing trust as a culturally determined enabler of social cooperation. The evolutions of trustworthiness in Japan, China, and the Philippines are analysed. This article contributes to the literature on varieties of capitalism and business systems as well as that on social capital. It raises...

OFHEO S RISKBASED CAPITAL STRESS TEST: Incorporating New Business Is Not Advisable

Science.gov (United States)

2002-06-01

periods of losses and capital erosion can occur. Enterprise management can use callable debt12 and other financial instruments or strategies to mitigate...12Callable debt refers to financial debt instruments, such as bonds ... Bonds are usually called when interest rates fall so significantly that the issuer can save money by floating new bonds at lower rates. 13The act

What is the association between social capital and diabetes mellitus? A systematic review.

Science.gov (United States)

Flôr, Cristina Rabelo; Baldoni, Nayara Ragi; Aquino, Jéssica Azevedo; Baldoni, André Oliveira; Fabbro, Amaury Lelis Dal; Figueiredo, Roberta Carvalho; Oliveira, Cláudia Di Lorenzo

2018-03-27

Social capital has been included as an element that could influence the self-perception of health, mortality and mental diseases. We systematically reviewed papers that studied the influence of social capital in the control of diabetes mellitus (DM). We included studies published up to Feb. 16, 2017, without restriction of time or year of publication. Quantitative studies were included since they presented one well-defined parameter to evaluate DM and specifically measured social capital. We used the PRISMA and STROBE guidelines to perform this review and to evaluate the quality of papers. Only three papers met the inclusion criteria. All studies adopted cross-sectional design. The population, the instruments used to measure social capital, and the statistical analysis were different among the papers. In conclusion, although social capital seems to be related to DM, more studies are necessary to understand which dimensions are more important in this association, if the association is the same at the individual or neighborhood level, and what kind of population in terms of education, poverty and culture would be more influenced by social capital in DM control. Copyright © 2018 Diabetes India. Published by Elsevier Ltd. All rights reserved.

¿Necesitamos capital social? Sí, pero socializando el capital

Directory of Open Access Journals (Sweden)

Silvio Salej Higgins

2005-07-01

Full Text Available A partir de O Capital S ocia! está na moda: aná!isepara sua reconstruido teórica (Salej: 2003, ofrecemos una sinopsis sobre la arquitectura teórica de uno de los conceptos más utilizados en las ciencias sociales durante la última década. En el nivel de la discusión sobre las transformaciones de las democracias del primer mundo (putnam: 2001, cuestionamos la tesis básica de que la merma del asociativismo cívico es el resultado de la modernización tecnológica y su concomitante cultura individualista. Por el contrario y en la misma linea de Rothstein (2001, construimos la hipótesis de que la disminución del capital social, denunciada por Putnam (1995, es correlativa al desmantelamiento de las políticas de asistencia social, con la consecuente caída en los indicadores de equidad. De modo prospectivo se presentan las preguntas- clave y las hipótesis para un programa de investigación alternativo y plausible sobre el capital social. Palabras clave: capital social, asociativismo cívico, integración social, equidad.

Where's the capital? A geographical essay.

Science.gov (United States)

Jones, Gareth A

2014-12-01

This paper is inspired by Thomas Piketty's book Capital in the Twenty-First Century. Piketty does a wonderful job of tracing income and wealth over time, and relating changes to trends of economic and population growth, and drawing out the implications for inequality, inheritance and even democracy. But, he says relatively little about where capital is located, how capital accumulation in one place relies on activities elsewhere, how capital is urbanized with advanced capitalism and what life is like in spaces without capital. This paper asks 'where is the geography in Capital' or 'where is the geography of capital in Capital'? Following Piketty's lead, the paper develops its analysis through a number of important novels. It examines, first, the debate that Jane Austen ignored colonialism and slavery in her treatment of nineteenth century Britain, second, how Balzac and then Zola provide insight to the urban political economy of capital later in the century, and third, how Katherine Boo attends to inequality as the everyday suffering of the poor. © London School of Economics and Political Science 2014.

THE ROLE OF INTELLECTUAL CAPITAL IN KNOWLEDGE - BASED SOCIETY

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Denisa-Elena Parpandel

2013-01-01

Full Text Available In a knowledge - based society, organizations undergo permanent changes and transformations, and the key factor of such changes is intellectual capital regarded as one of the most critical, yet most strategic values an organization might own. Analyzing intelectual capital and knowledge society over the last decades has primarily emerged in private companies, whereas at present there is an increasing concern in all the fields of activity. The goal of this paper is to emphasize the importance of intellectual capital as a source of innovation and novelty used to create competitive advantages for organizations in the era of knowledge where man must rely on intellect, intuition and creativity. The present paper is an exploratory endeavour based on the qualitative method as various information sources are resorted to in order to conceptualize the terms of intellectual capital and knowledge society: specialty literature, case studies, mass-media articles, reports of in-field organizations etc. Organizations should use all the tangible or non-tangible resources they have in order to secure their success and also to build a knowledge society which involves going a long way, based on an ample, complex process where innovation has a major role and a global nature.

Conference on EU Capital Markets Union: Contents and Discontents

NARCIS (Netherlands)

N. Dorn (Nicholas)

2015-01-01

markdownabstract__Abstract__ In February 2015 the Commission published its Green Paper on Capital Markets Union (CMU) and an Action Plan will follow later in 2015. The consultation period ends in May, so June/July is a good time to take stock. In terms of its intentions for market structure, CMU

CAPITAL STRUCTURE OF UKRAINIAN NON-FINANCIAL COMPANIES IN HISTORICAL PERSPECTIVE

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D. Chernenko

2018-01-01

Full Text Available This paper examines the dynamics of Ukrainian non-financial firms' capital structure within a historical perspective. It shows that firm financing since 1990 was a derivative from economic and institutional changes, and current levels of leverage are lower than ones of foreign peers. Whereas in the short-term we can expect some market recovery, long-term dynamics relies almost exclusively on the successof institutional reforms.

Corporate Social Capital and Public Relations : Capital Accumulation by Social Relationship and Rethinking the Definition of Public Relations

OpenAIRE

北見, 幸一

2009-01-01

This paper discusses Corporate Social Capital and Public Relations. This paper overviewed the Social Capital studies, especially early studies in sociology field, proposed the framework to evaluate Social Capital in a capital. Social Capital has the merit to reduce transaction costs, and should be clearly positioned as a component of capital of corporation. Using the concept of the Corporate Social Capital, to rethink the definition of Public Relations, this paper proposed the following defin...

The importance of capital cost reduction in improving nuclear economics

International Nuclear Information System (INIS)

Langmo, A.; Braun, C.

1996-01-01

In the developed countries having existing nuclear programs, the situation necessitates lower total power generation cost. The restructuring of utility industry due to the deregulation causes to reorganize the ownership of some nuclear plants, and the overall economics of nuclear plants in relation to their local competition is reexamined. The reluctance to make any new long term capital cost commitment arises, and it makes new plant construction less likely in near future, and plant upgrading and improvement to be put to intense scrutiny. The capital cost recovery in existing nuclear plants in USA is discussed. It is important to recognize that there is very little that can be done to affect already expended capital, and only that can be done is to improve plant capacity factors, besides write-off. The roles of architects and engineers in improved plant economics are now evaluated by the various organizations which are interested in the participation in new nuclear industry reorganization and restructuring. The reduction of operation and maintenance costs and capital investment, and the improvement of capacity factor are reported. In new ALWR construction program, architects and engineers can significantly support the control of plant capital costs by the selection of the plant design and the sites, and the strategies of procurement and contract, construction schedule and others. (K.I.)

Long-term maintenance of weight loss after lifestyle intervention in frail, obese older adults.

Science.gov (United States)

Waters, D L; Vawter, R; Qualls, C; Chode, S; Armamento-Villareal, R; Villareal, D T

2013-01-01

To determine if long-term weight loss with associated improvement in physical and metabolic health can be maintained after lifestyle intervention in frail, obese older adults. Thirty-month follow-up pilot study of a 1-year lifestyle intervention trial. Community. Sixteen frail, obese (body mass index=36±2 kg/m2) older (71±1 yr.) adults. Body weight and composition, physical function, markers of the metabolic syndrome, glucose and insulin response to an oral glucose tolerance test, bone mineral density (BMD), liver and renal function tests, and food diaries. At 30-month follow-up, weight (101.5±3.8 vs. 94.5±3.9 kg) and BMI (36.0 ±1.7 vs. 33.5±1.7 kg/m2) remained significantly below baseline (all plean mass (24.1±1.0 vs. 24.1±1.1kg, all p>0.05) occurred between 12 months (end of trial) and 30 months. Improvements in the physical performance test (PPT 27±0.7 vs. 30.2±0.6), insulin sensitivity (4.1±0.8 vs. 3.0±0.6), and insulin area under the curve (12484±2042 vs. 9270±1139 min.mg/dl) remained at 30 months compared to baseline (all pmaintenance of clinically important weight loss is possible in frail, obese older adults. Weight maintenance appears to be achieved through continued caloric restriction. Larger, long-term studies are needed to follow up on these findings and investigate mechanisms and behaviors underlying maintenance of weight loss and physical function.

Levels of Social Capital in Internationalization

DEFF Research Database (Denmark)

Decker, Arnim

2016-01-01

This contribution introduces the notion of social capital and discusses integration into the studies on internationalization of smaller firms and entrepreneurs. Integrating social capital into the resource based perspective, we categorize social capital at three levels: firstly, social capital can...... be attributed to individuals, affecting their relationship with the external environment. Secondly, social capital is an inherent property of networks, into which smaller firms and entrepreneurs are embedded. Thirdly, social capital exists at the macro level, where its characteristics and availability varies...... between environments and nations. This contribution attemps to fascilitate the operationalization of social capital for an improved understanding of processes of internationalization of smaller firms and entrepreneurs....

Long-term weight-loss maintenance in obese patients with knee osteoarthritis: a randomized trial.

Science.gov (United States)

Christensen, Pia; Henriksen, Marius; Bartels, Else M; Leeds, Anthony R; Meinert Larsen, Thomas; Gudbergsen, Henrik; Riecke, Birgit F; Astrup, Arne; Heitmann, Berit L; Boesen, Mikael; Christensen, Robin; Bliddal, Henning

2017-09-01

Background: A formula low-energy diet (LED) reduces weight effectively in obese patients with knee osteoarthritis, but the role of LED in long-term weight-loss maintenance is unclear. Objective: We aimed to determine the effect of intermittent LED compared with daily meal replacements on weight-loss maintenance and number of knee replacements over 3 y. Design: The design was a randomized trial with participants aged >50 y who had knee osteoarthritis and a body mass index [BMI (in kg/m 2 )] ≥30. Participants were recruited from the osteoarthritis outpatient clinic at Copenhagen University Hospital in Frederiksberg, Denmark; they had previously completed a 68-wk lifestyle intervention trial and achieved an average weight loss of 10.5 kg (10% of initial body weight). Participants were randomly assigned to either the intermittent treatment (IN) group with LED for 5 wk every 4 mo for 3 y or to daily meal replacements of 1-2 meals for 3 y [regular (RE) group]. Attention by dietitians and the amount of formula products were similar. Primary outcomes were changes in body weight and proportion of participants receiving knee replacements. Outcomes were analyzed on the intention-to-treat-population with the use of baseline-carried-forward imputation for missing data. Results: A total of 153 participants (means ± SDs: BMI: 33.3 ± 4.6; age: 63.8 ± 6.3 y; 83% women) were recruited between June and December 2009 and randomly assigned to the IN ( n = 76) or RE ( n = 77) group. A total of 53 and 56 participants, respectively, completed the trial. Weight increased by 0.68 and 1.75 kg in the IN and RE groups, respectively (mean difference: -1.06 kg; 95% CI: -2.75, 0.63 kg; P = 0.22). Alloplasty rates were low and did not differ (IN group: 8 of 76 participants; RE group: 12 of 77 participants; P = 0.35). Conclusions: After a mean 10% weight-loss and 1-y maintenance, additional use of daily meal replacements or intermittent LED resulted in weight-loss maintenance for 3 y. These

Impact of family capital & social capital on youth entrepreneurship – a study of Uttarakhand state, India

OpenAIRE

Sharma, Lalit

2014-01-01

The research paper intends to interpret how the three forms of family capital viz. family's financial capital, family's man power capital and family's human capital influences the career choice intention of students of HEI's of Uttarakhand, India. Additionally the study also evaluates the impact of student's individual social capital on his career intent. This is a quantitative study conducted at Uttarakhand state of India on a large sample of students studying in various professional courses...

Do purely capital layers exist among flying birds? Evidence of exogenous contribution to arctic-nesting common eider eggs.

Science.gov (United States)

Sénéchal, Edith; Bêty, Joël; Gilchrist, H Grant; Hobson, Keith A; Jamieson, Sarah E

2011-03-01

The strategy of relying extensively on stored resources for reproduction has been termed capital breeding and is in contrast to income breeding, where needs of reproduction are satisfied by exogenous (dietary) resources. Most species likely fall somewhere between these two extremes, and the position of an organism along this gradient can influence several key life-history traits. Common eiders (Somateria mollissima) are the only flying birds that are still typically considered pure capital breeders, suggesting that they depend exclusively on endogenous reserves to form their eggs and incubate. We investigated the annual and seasonal variation in contributions of endogenous and exogenous resources to egg formation in eiders breeding at the East Bay colony in the Canadian Arctic. We collected prey items along with females and their eggs during various stages of breeding and used two complementary analytical approaches: body reserve dynamics and stable isotope [δ(13)C, δ(15)N] mixing models. Indices of protein reserves remained stable from pre-laying to post-laying stages, while lipid reserves declined significantly during laying. Similarly, stable isotope analyses indicated that (1) exogenous nutrients derived from marine invertebrates strongly contributed to the formation of lipid-free egg constituents, and (2) yolk lipids were constituted mostly from endogenous lipids. We also found evidence of seasonal variation in the use of body reserves, with early breeders using proportionally more exogenous proteins to form each egg than late breeders. Based on these results, we reject the hypothesis that eiders are pure capital layers. In these flying birds, the fitness costs of a strict capital breeding strategy, such as temporary loss of flight capability and limitation of clutch and egg size, may outweigh benefits such as a reduction in egg predation rate.

Limited Capital Market Participation and Human Capital Risk

OpenAIRE

Jonathan Berk; Johan Walden

2010-01-01

The non-tradability of human capital is often cited for the failure of traditional asset pricing theory to explain agents' portfolio holdings. In this paper we argue that the opposite might be true --- traditional models might not be able to explain agent portfolio holdings because they do not explicitly account for the fact that human capital does trade (in the form of labor contracts). We derive wages endogenously as part of a dynamic equilibrium in a production economy. Risk is shared in l...

Knight Capital Americas LLC

DEFF Research Database (Denmark)

Austin, Robert D.; Meister, Darren

2015-01-01

It took 19 years to build Knight Capital Americas LLC into the largest market maker on the New York Stock Exchange, but on August 1, 2012, it took only 45 minutes for the firm to be wiped out by an information technology (IT) problem: a change in the company's software caused it to lose more than...... $450 million dollars in less than an hour. Although it was ultimately saved from bankruptcy when it was acquired two days later, the terms of acquisition were very unfavourable to the company's shareholders. How did this happen? Could it have been prevented? What should the staff, the chief executive...

Social Capital and Public Participation on Planning in Coastal Area Development

Science.gov (United States)

Prayitno, Gunawan; Syaifurridzal, M.

2017-07-01

Indonesia is one country to the world that rich with natural resources, especially on marine and coastal resources. But, the condition of rural inhabitants in coastal area still low in economic condition and public facilities and others not suitable for good living environment. The goal of this paper is to integrate the concept of social capital and public participation in the community activities. Social capital, which is interpreted with the term of the trust, networks and norm as governing human behavior is significant to motivate and coordinate collective action towards collaboration. Collective action or collaboration among people in the communities could solve the problem together. In the Grootaert research, with the title “Social Capital, Household Welfare and Poverty in Indonesia” (1999) found that active participation in decision making and memberships in heterogeneous organizations further reduce the likelihood to be poor. In this research, we found the same from Grootaert finding, that social capital (trust) has positive impact to community activities (path point 0.56) in this research location.

Design and implementation of an interactive website to support long-term maintenance of weight loss.

Science.gov (United States)

Stevens, Victor J; Funk, Kristine L; Brantley, Phillip J; Erlinger, Thomas P; Myers, Valerie H; Champagne, Catherine M; Bauck, Alan; Samuel-Hodge, Carmen D; Hollis, Jack F

2008-01-25

For most individuals, long-term maintenance of weight loss requires long-term, supportive intervention. Internet-based weight loss maintenance programs offer considerable potential for meeting this need. Careful design processes are required to maximize adherence and minimize attrition. This paper describes the development, implementation and use of a Web-based intervention program designed to help those who have recently lost weight sustain their weight loss over 1 year. The weight loss maintenance website was developed over a 1-year period by an interdisciplinary team of public health researchers, behavior change intervention experts, applications developers, and interface designers. Key interactive features of the final site include social support, self-monitoring, written guidelines for diet and physical activity, links to appropriate websites, supportive tools for behavior change, check-in accountability, tailored reinforcement messages, and problem solving and relapse prevention training. The weight loss maintenance program included a reminder system (automated email and telephone messages) that prompted participants to return to the website if they missed their check-in date. If there was no log-in response to the email and telephone automated prompts, a staff member called the participant. We tracked the proportion of participants with at least one log-in per month, and analyzed log-ins as a result of automated prompts. The mean age of the 348 participants enrolled in an ongoing randomized trial and assigned to use the website was 56 years; 63% were female, and 38% were African American. While weight loss data will not be available until mid-2008, website use remained high during the first year with over 80% of the participants still using the website during month 12. During the first 52 weeks, participants averaged 35 weeks with at least one log-in. Email and telephone prompts appear to be very effective at helping participants sustain ongoing website use

Long-term loss rates of radioisotopes of cobalt, zinc, ruthenium, caesium and silver by Mytilus edulis under field conditions

International Nuclear Information System (INIS)

Dahlgaard, H.

1999-01-01

Long-term loss rates of cobalt, zinc, ruthenium, caesium and silver by Mytilus edulis soft parts as well as shells were measured under field conditions in the Mediterranean Sea at Monaco during a period of 13 months after experimental contamination. For all 5 elements, the loss could be described by two exponential functions for the soft parts and one for the shells. Biological half lives for the long-lived compartment ranged from ∼20 days for caesium to 100 - 200 days for cobalt, zinc, ruthenium and silver for soft parts as well as for shells. A comparison with results from similar experiments performed under very different environmental conditions in the Baltic Sea indicated that caesium and maybe silver had a faster turnover in the warm and saline Mediterranean, whereas loss rates for cobalt and zinc were comparable. It is argued, that reliable deduction of loss rates require experiments running over several months to a year, and it is pointed out that shorter term experiments - even up to 3 months - may give biased results. (author)

Capital Requirements and Credit Rationing

OpenAIRE

Itai Agur

2010-01-01

This paper analyzes the trade-off between financial stability and credit rationing that arises when increasing capital requirements. It extends the Stiglitz-Weiss model of credit rationing to allow for bank default. Bank capital structure then matters for lending incentives. With default and rationing endogenous, optimal capital requirements can be analyzed. Introducing bank financiers, the paper also shows that uninsured funding raises the sensitivity of rationing to capital requirements. In...

Pregnancy before recurrent pregnancy loss more often complicated by post-term birth and perinatal death.

Science.gov (United States)

Wagner, Marise M; Visser, Jantien; Verburg, Harjo; Hukkelhoven, Chantal W P M; Van Lith, Jan M M; Bloemenkamp, Kitty W M

2018-01-01

The cause of recurrent pregnancy loss often remains unknown. Possibly, pathophysiological pathways are shared with other pregnancy complications. All women with secondary recurrent pregnancy loss (SRPL) visiting Leiden University Medical Center (January 2000-2015) were included in this retrospective cohort to assess whether women with SRPL have a more complicated first pregnancy compared with control women. SRPL was defined as three or more consecutive pregnancy losses before 22 weeks of gestation, with a previous birth. The control group consisted of all Dutch nullipara delivering a singleton (January 2000-2015). Information was obtained from the Dutch Perinatal Registry. Outcomes were preeclampsia, preterm birth, post-term birth, intrauterine growth restriction, breach position, induction of labor, cesarean section, congenital abnormalities, perinatal death and severe hemorrhage in the first ongoing pregnancy. Subgroup analyses were performed for women with idiopathic SRPL and for women ≤35 years. In all, 172 women with SRPL and 1 196 178 control women were included. Women with SRPL were older and had a higher body mass index; 29.7 years vs. 28.8 years and 25.1 kg/m 2 vs. 24.1 kg/m 2 , respectively. Women with SRPL more often had a post-term birth (OR 1.86, 95% CI 1.10-3.17) and more perinatal deaths occurred in women with SRPL compared with the control group (OR 5.03, 95% CI 2.48-10.2). Similar results were found in both subgroup analyses. The first ongoing pregnancy of women with (idiopathic) SRPL is more often complicated by post-term birth and perinatal death. Revealing possible links between SRPL and these pregnancy complications might lead to a better understanding of underlying pathophysiology. © 2017 Nordic Federation of Societies of Obstetrics and Gynecology.

A study on the impact of Facebook usage on student’s social capital and academic performance

OpenAIRE

Shah, Vishal; Subramanian, Sankara; Rouis, Sana; Limyaem, Moez

2012-01-01

Prior research has focused on the benefits of usage of social media such as Facebook in terms of the social capital gains they bring. Other research has studied the adverse impact of such usage on academic performance. In this study we try to understand both the beneficial and adverse aspects of Facebook usage in the case of U.S. undergraduate students. Basing on social capital theory and system usage in hedonic context, we tested the dual effect of the usage of Facebook on social capital and...

The Hollow University: Disaster Capitalism Befalls American Higher Education

Science.gov (United States)

Letizia, Angelo J.

2016-01-01

Over the last 40 years, American institutions of higher education have been encouraged to align with the private sector by policymakers, think tank experts and businessmen in order to become more efficient and more accountable. In a wider sense, this new partnership may be evidence of what has been termed "disaster capitalism." In…

Social capital and systems of care: some contrasting evidence ...

African Journals Online (AJOL)

No abstract available for this article... Keywords: social capital, systems. Research Review Supplement 16 (2004: 1-15). AJOL African Journals Online. HOW TO USE AJOL... for Researchers · for Librarians · for Authors · FAQ's · More about AJOL · AJOL's Partners · Terms and Conditions of Use · Contact AJOL · News.

26 CFR 1.731-1 - Extent of recognition of gain or loss on distribution.

Science.gov (United States)

2010-04-01

..., that is, capital gain or loss. (b) Gain or loss recognized by partnership. A distribution of property... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Distributions by A Partnership § 1.731-1 Extent of... gain. (i) Where money is distributed by a partnership to a partner, no gain shall be recognized to the...

School-based obesity policy, social capital, and gender differences in weight control behaviors.

Science.gov (United States)

Zhu, Ling; Thomas, Breanca

2013-06-01

We examined the associations among school-based obesity policies, social capital, and adolescents' self-reported weight control behaviors, focusing on how the collective roles of community and adopted policies affect gender groups differently. We estimated state-level ecologic models using 1-way random effects seemingly unrelated regressions derived from panel data for 43 states from 1991 to 2009, which we obtained from the Centers for Disease Control and Prevention's Youth Risk Behavior Surveillance System. We used multiplicative interaction terms to assess how social capital moderates the effects of school-based obesity policies. School-based obesity policies in active communities were mixed in improving weight control behaviors. They increased both healthy and unhealthy weight control behaviors among boys but did not increase healthy weight control behaviors among girls. Social capital is an important contextual factor that conditions policy effectiveness in large contexts. Heterogeneous behavioral responses are associated with both school-based obesity policies and social capital. Building social capital and developing policy programs to balance outcomes for both gender groups may be challenging in managing childhood obesity.

The sensitivity of capital services measurement : Measure all assets and the cost of capital

NARCIS (Netherlands)

Inklaar, R.

The measurement of capital inputs is still a contentious issue: many choices have to be made that have potentially large effects on the resulting capital input series. This paper compares a large number of methodological choices and their impact on U.S. capital services at the industry and aggregate

Reconciliation of work and care among lone mothers of adults with intellectual disabilities: the role and limits of care capital.

Science.gov (United States)

Chou, Yueh-Ching; Kröger, Teppo

2014-07-01

In this study, the concept of social capital is applied to an exploration of Guanxi (social networking to create good relationships) among working lone mothers of adults with intellectual disabilities (ID) in Taiwan. Using in-depth interviews, this study explores the role of social capital, here referred to as 'care capital', in making it possible for working lone mothers to combine their roles as family carers and workers. Eleven divorced or widowed mothers combining their paid work with long-term care responsibilities were recruited from a survey or through NGOs and were interviewed at their home between October 2008 and July 2010. An interpretative phenomenological approach was adopted for data analysis. The findings revealed that the mothers' care capital was extremely limited and was lost, gained and lost again during their life-cycles of long-term care-giving. Guanxi, especially in relation to their employers, proved to be the sole source of care capital for these mothers, making reconciliation between work and care responsibilities possible. In the absence of formal or informal support, religion and the mother-child relationship seemed also to become a kind of care capital for these lone mothers, helping them to get by with their life-long care responsibilities. For formal social and healthcare services, not just in Taiwan but in every country, it is important to develop support for lone mothers of adults with ID who have long-term care responsibilities and low levels of care capital and thus face care poverty. © 2014 John Wiley & Sons Ltd.

Does Venture Capital Spur Innovation?

OpenAIRE

Samuel Kortum; Josh Lerner

1998-01-01

While policymakers often assume venture capital has a profound impact on innovation, that premise has not been evaluated systematically. We address this omission by examining the influence of venture capital on patented inventions in the United States across twenty industries over three decades. We address concerns about causality in several ways, including exploiting a 1979 policy shift that spurred venture capital fundraising. We find that the amount of venture capital activity in an indust...

Does the method of weight loss effect long-term changes in weight, body composition or chronic disease risk factors in overweight or obese adults? A systematic review.

Directory of Open Access Journals (Sweden)

Richard A Washburn

Full Text Available Differences in biological changes from weight loss by energy restriction and/or exercise may be associated with differences in long-term weight loss/regain.To assess the effect of weight loss method on long-term changes in weight, body composition and chronic disease risk factors.PubMed and Embase were searched (January 1990-October 2013 for studies with data on the effect of energy restriction, exercise (aerobic and resistance on long-term weight loss. Twenty articles were included in this review.Primary source, peer reviewed randomized trials published in English with an active weight loss period of >6 months, or active weight loss with a follow-up period of any duration, conducted in overweight or obese adults were included.Considerable heterogeneity across trials existed for important study parameters, therefore a meta-analysis was considered inappropriate. Results were synthesized and grouped by comparisons (e.g. diet vs. aerobic exercise, diet vs. diet + aerobic exercise etc. and study design (long-term or weight loss/follow-up.Forty percent of trials reported significantly greater long-term weight loss with diet compared with aerobic exercise, while results for differences in weight regain were inconclusive. Diet+aerobic exercise resulted in significantly greater weight loss than diet alone in 50% of trials. However, weight regain (∼ 55% of loss was similar in diet and diet+aerobic exercise groups. Fat-free mass tended to be preserved when interventions included exercise.

ANALYZING FAT-TAILED DISTRIBUTIONS IN EMERGING CAPITAL MARKETS

Directory of Open Access Journals (Sweden)

FELICIA RAMONA BIRĂU

2013-05-01

Full Text Available The aim of this article focuses on analyzing the implications of fat-tailed distributions in emerging capital markets. An essential aspect that was highlighted by most empirical research, especially in terms of emerging capital markets, emphasizes the fact that extreme financial events can not be accurately predicted by the normal distribution. Fat-tailed distributions establish a very effective econometric tool in the analysis of rare events which are characterized by extreme values that occur with a relatively high frequency .The importance of exploring this particular issue derives from the fact that it is fundamental for optimal portfolio selection, derivatives valuation, financial hedging and risk management strategies. The implications of fat-tailed distributions for investment process are significant especially in the turbulent context of the global financial crisis.

Abundance in Capital: Global Risk Sharing and Insurance in a Changing Financial Environment

Science.gov (United States)

Michel, Gero; Schaper, Christopher

2014-05-01

Insurance has played a viable role in the hedging of homeowners and commercial risks around the world. Countries that have significant penetration in insurance have in addition performed better after large regional or over-regional catastrophic losses. Insurance has hence increased the resilience of western societies. This is opposed to emerging or developing markets with low insurance penetration which have suffered significant drawbacks in their development after large catastrophic events. Examples include the recent Typhoon(s) in the Philippines and the 2010 Haiti earthquake. This presentation will provide insights into the opportunities, views and risk management features a global reinsurance company must assume in order to hedge and mitigate risk across the world. During the past year, an unprecedented amount of new capital has been entering the insurance market, looking for profitable investments outside the much wider capital market. Catastrophe insurance is seen as a valuable alternative to investing in assets that that have shown low returns and high correlation in the recent financial meltdown. The new capital is mostly deployed - or competing with already deployed capital - in the US where insurance penetration is already high. This is opposed to more than half of the world including all developing and most emerging countries which have low insurance penetration and often lack infrastructure hindering new capital to be deployed effectively. What is needed to overcome this obvious deficiency in capital supply and demand? One reason why it is difficult to deploy capital in developing countries is the lack of available exposure information and catastrophe models. This presentation sheds light on the potential science needs of our market and gives an overview of what is being done at Montpelier, a global reinsurance company, to understand catastrophe risk around the globe.

ACCOUNT INSTRUMENT CAPITAL BORROWED

Directory of Open Access Journals (Sweden)

Holt Gheorghe

2012-03-01

Full Text Available Setting up business capital is made from different sources and their use coordinates its policy aims, issues that affect the overall efficiency and thus differentiate companies with the same profile of activity and a similar level of capital advanced in the economic cycle. Thus financial structure, the average cost of capital used in the mechanism how the financial management of the company, of particular importance for this.

Simulation of Long-Term Carbon and Nitrogen Dynamics in Grassland-Based Dairy Farming Systems to Evaluate Mitigation Strategies for Nutrient Losses.

Directory of Open Access Journals (Sweden)

Ghulam Abbas Shah

Full Text Available Many measures have been proposed to mitigate gaseous emissions and other nutrient losses from agroecosystems, which can have large detrimental effects for the quality of soils, water and air, and contribute to eutrophication and global warming. Due to complexities in farm management, biological interactions and emission measurements, most experiments focus on analysis of short-term effects of isolated mitigation practices. Here we present a model that allows simulating long-term effects at the whole-farm level of combined measures related to grassland management, animal housing and manure handling after excretion, during storage and after field application. The model describes the dynamics of pools of organic carbon and nitrogen (N, and of inorganic N, as affected by farm management in grassland-based dairy systems. We assessed the long-term effects of delayed grass mowing, housing type (cubicle and sloping floor barns, resulting in production of slurry and solid cattle manure, respectively, manure additives, contrasting manure storage methods and irrigation after application of covered manure. Simulations demonstrated that individually applied practices often result in compensatory loss pathways. For instance, methods to reduce ammonia emissions during storage like roofing or covering of manure led to larger losses through ammonia volatilization, nitrate leaching or denitrification after application, unless extra measures like irrigation were used. A strategy of combined management practices of delayed mowing and fertilization with solid cattle manure that is treated with zeolite, stored under an impermeable sheet and irrigated after application was effective to increase soil carbon stocks, increase feed self-sufficiency and reduce losses by ammonia volatilization and soil N losses. Although long-term datasets (>25 years of farm nutrient dynamics and loss flows are not available to validate the model, the model is firmly based on knowledge of

Capital Structure Influence on Construction Firm Performance

Directory of Open Access Journals (Sweden)

Jayiddin Nur Faezah

2017-01-01

Full Text Available The interconnectedness between capital structure and firm performance is a topic of high interest among scholars and management alike. The scholars tend to unveil the why segment of the relationship, while the management looks into the how side to promote capital structure policy which can optimise the firm performance. While many studies have looked into this relationship across multiple industries and spanning across decades of data, the current study trains its lens on Malaysian public listed company companies which operate in the construction sector, and with data window between 2010 to 2014. This specific sector was chosen for their high gearing which renders firms to relatively high insolvency exposure emanating from interest rate fluctuations. The five-year timeframe was selected to isolate potential data contaminations streaming from global financial crisis which winds down in 2009. Financial data of the company were extracted from Bloomberg Terminal based on a pre-prepared list of Bloomberg tickers. A total of 225 observations were recorded in this study. Using Tobin’s Q as a proxy for firm performance, this study finds a mixed result where short term debts ratio indicates a significant negative effect, while long term debt ratio presents a non-significant influence. Explanations on this output are therefore discussed in this paper.

Social Capital and Educational Aspiration of Students: Does Family Social Capital Affect More Compared to School Social Capital?

Science.gov (United States)

Shahidul, S. M.; Karim, A. H. M. Zehadul; Mustari, S.

2015-01-01

Resources from multiple social contexts influence students' educational aspiration. In the field of social capital a neglected issue is how students obtain social capital from varying contexts and which contexts benefit them more to shape their future educational plan which consequently affects their level of aspiration. In this study, we aim to…

capital. A discussion paper

Directory of Open Access Journals (Sweden)

Ewa Chojnacka

2015-04-01

Full Text Available The purpose of this study is to confront certain propositions presented in Lesław Niemczyk’s publication Rachunkowość finansowa aktywów kompetencyjnych i kapitału intelektualnego. Nowy dział rachunkowości(Accounting for Competence Assets and Intellectual Capital. A New Area in Accounting with ideas published in other studies. The authors discuss issues concerning firm value, selected definitions of intellectual capital, as well as certain methods of intellectual capital measurement and valuation. Other problems analysed include accounting for and reporting of intellectual capital and similarities and differences between the way those issues are presented in Polish and in international studies as well as in existing legal regulations and standards.

Unsustainable growth, unsustainable capitalism

DEFF Research Database (Denmark)

Næss, Petter

2006-01-01

problems, but serve to further highlight the difficulties of changing capitalism towards sustainability. In a profit-oriented economy, capital accumulation is a prime driving force, and non-growth for the economy at large tends to result in serious economic and social crises. On the other hand, a de...... according to which the powers and mechanisms of the natural world are considered totally controllable by humans as if they were mere epiphenomena of the human world. On the other hand, the assumptions of certain ecological economists about the possibility of steady-state capitalism disregard the relation...... between capital and surplus value, which constitutes a strong mechanism driving the capitalist economy toward limitless growth....

Leaseback: An alternative source to raise company working capital

Directory of Open Access Journals (Sweden)

Laušević Ljubica

2014-01-01

Full Text Available This paper offers a description, regulatory framework and the manner of implementation of the leaseback as an alternative manner of raising working capital for companies with a large number and type of users. Leaseback has experienced an explosive growth in Europe, in the first decade of this century, especially during the years of economic prosperity. The value of leaseback in Europe has grown from 6.9 billion EUR in 2004, up to 46 billion EUR in 2007, i.e. during the four years the value was increased for 567%. Leaseback has shown itself to be, according to the analyses made, an 'ideal' manner of financing based on sale-and-leaseback of real estate. Capital that is 'immobilised' on long-term basis, through the leaseback regains its quality of capital ready to be engaged in current activities, i.e. projects and programmes of companies that are making high earnings. The objective of this work is to draw the attention, on the basis of a comprehensive theoretical presentation, empirical analyses and positive world practices, to this, in our business circumstances, a completely novel manner of financing, in the context of raising additional working capital through the inflow of both the domestic and of the foreign capital in Serbia. In order to achieve full implementation of this type of financing, it is necessary to overcome a number of constraints and provide regulatory framework, developed investment funds for investment in real estate, and a properly set in place cadastre register.

Leveraging Intellectual Capital: Visionary "Knowledge Management" by the School Business Administrator.

Science.gov (United States)

Armstrong, William I.

2002-01-01

Describes how school business officials can identify, locate, and collaborate with those individuals both inside and outside the school system who possess the necessary intellectual capital to contribute to the long-term improvement of students, staff, and the community. (PKP)

Bank capital management : International evidence

NARCIS (Netherlands)

De Jonghe, O.G.; Öztekin, Ö.

We examine the dynamic behavior of bank capital using a global sample of 64 countries during the 1994-2010 period. Banks achieve deleveraging through active capital management (equity growth) rather than asset liquidation. In contrast, they achieve leveraging through passive capital management

12 CFR 567.4 - Capital directives.

Science.gov (United States)

2010-01-01

... requirement, the leverage ratio requirement, the tangible capital requirement, or individual minimum capital... capital directive, it may become effective immediately. A capital directive shall remain in effect and... plan shall continue in full force and effect. (b) Relation to other administrative actions. The Office...

Capitalism: A System of Conspiracy

OpenAIRE

Das, Subhendu

2010-01-01

There are some myths about American capitalism. Some of them are (1) Capitalism made America the richest nation, (2) Capitalism is based on self interest, and (3) America has democracy. We show that the survival of capitalism is based on several powerful conspiracy theories. We briefly describe these conspiracies. Our analysis is based on the following principles: (a) Laws of conservation, (b) System theoretic concepts, and (c) The global space time (GST) environment. Using these princip...

Macroeconomic Conditions and Capital Raising

OpenAIRE

Isil Erel; Brandon Julio; Woojin Kim; Michael S. Weisbach

2011-01-01

Do macroeconomic conditions affect firms' abilities to raise capital? If so, how do they affect the manner in which the capital is raised? We address these questions using a large sample of publicly-traded debt issues, seasoned equity offers, bank loans and private placements of equity and debt. Our results suggest that a borrower's credit quality significantly affects its ability to raise capital during macroeconomic downturns. For noninvestment-grade borrowers, capital raising tends to be p...

The Long-Term Effects of Youth Unemployment

Science.gov (United States)

Mroz, Thomas A.; Savage, Timothy H.

2006-01-01

Using NLSY data, we examine the long-term effects of youth unemployment on later labor market outcomes. Involuntary unemployment may yield suboptimal investments in human capital in the short run. A theoretical model of dynamic human capital investment predicts a rational "catch-up" response. Using semiparametric techniques to control for the…

PENGARUH INTELLECTUAL CAPITAL TERHADAP KINERJA KEUANGAN PERUSAHAAN

Directory of Open Access Journals (Sweden)

Denny Andriana

2014-04-01

Full Text Available The purpose of this research is to examine the influence of intellectual capital and its components, represented by physical capital (capital employed, human capital, and structural capital,on financial performance of mining and manufacturing companies listed in Indonesia Stock Exchange (Bursa Efek Indonesia – BEI period of 2010 – 2012. Total population observed during this research shows 169 mining and manufacturing companies.The sample was determined by purposive sampling method and found a total of 70 samples as the research subjects. The analytical technique for the quantitaive data uses a statistical tool, i.e. multiple regression. Intellectual capital and its components were measured by Pulic Model, while financial performance uses Return on Equty (ROE ratio. The results show that intellectual capital and human capital have negative influence, yet insignificant, impacton companies financial performance. While physical capital (capital employed and structural capital do have positive influence but not significanton companies financial performance.

Leisure-time activity is an important determinant of long-term weight maintenance after weight loss in the Sibutramine Trial on Obesity Reduction and Maintenance (STORM trial)

DEFF Research Database (Denmark)

van Baak, M. A.; van Mil, E.; Astrup, A.

2003-01-01

The success rate of long-term maintenance of weight loss in obese patients is usually low. To improve the success rate, determinants of long-term weight maintenance must be identified.......The success rate of long-term maintenance of weight loss in obese patients is usually low. To improve the success rate, determinants of long-term weight maintenance must be identified....

The Educational Asset Market: A Finance Perspective on Human Capital Investment

DEFF Research Database (Denmark)

Christiansen, Charlotte; Nielsen, Helena Skyt

2002-01-01

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...

Working Paper on Social capital

DEFF Research Database (Denmark)

Lassen Hanan, Anne

This paper outlines the major schools within social capital theory. Contemporary authors such as Coleman, Putnam and Bourdieu are elaborated on. The paper also presents a non-exhaustive review on studies of social capital. Furthermore, a criticial discussion on social capital is reviewed, before...

Venture Capital and Innovation Strategies

NARCIS (Netherlands)

Da Rin, Marco; Penas, Maria

2015-01-01

Venture capital investors are specialized financial intermediaries that provides funding for technological innovation with the goal of realizing a capital gain within a few years. We are the first to examine the association of venture capital funding with a company’s choice of innovation strategies.

Venture capital and innovation strategies

NARCIS (Netherlands)

Da Rin, Marco; Penas, Fabiana

2017-01-01

Venture capital investors are specialized financial intermediaries that provide funding for technological innovation with the goal of realizing a capital gain within a few years. We are the first to examine the association of venture capital funding with a company's choice of innovation strategies.

Capital regulation and tail risk

NARCIS (Netherlands)

Perotti, E.; Ratnovski, L.; Vlahu, R.

2011-01-01

The paper studies risk mitigation associated with capital regulation, in a context when banks may choose tail risk assets. We show that this undermines the traditional result that higher capital reduces excess risk-taking driven by limited liability. When capital raising is costly, poorly

Capital regulation and tail risk

NARCIS (Netherlands)

Perotti, E.; Ratnovski, L.; Vlahu, R.

2011-01-01

The paper studies risk mitigation associated with capital regulation, in a context where banks may choose tail risk assets. We show that this undermines the traditional result that higher capital reduces excess risk taking driven by limited liability. Moreover, higher capital may have an unintended

Long-term fertilisation causes excess supply and loss of phosphorus in purple paddy soil.

Science.gov (United States)

Zhang, Yue-Qiang; Wen, Ming-Xia; Li, Xue-Ping; Shi, Xiao-Jun

2014-04-01

Phosphorus (P) loss from cropland is accelerating the eutrophication of waters around the world such as the Three Gorges Reservoir (TGR) in China. We investigated whether purple paddy soil under long-term P applications was a major source of P efflux to the TGR. Substantial surplus P in the plough layer (0-20 cm) was evident after 15-year P applications. Available P (Olsen-P) in the plough layer ranged from 1.9 to 42.4 mg kg(-1) and some of which will exceed the threshold of 30 mg kg(-1) for environmental concern within 7 years of P application (inorganic NPK with or without organic fertiliser). Between 30 and 70% of Olsen-P was leached out of the 0-30 cm soil layer. Surplus P resulted in high P concentrations in the surface water during the rice cropping season, and these concentrations exceeded those in most waters of the TGR and exceeded the critical level for eutrophication (0.1 mg L(-1)) during the first 10 days after rice planting. Furthermore, total P in run-off due to rainfall events exceeded the level for eutrophication, with a total loss of 43.2-147.9 g P ha(-1) depending on the fertilisation. Current agronomic P management in purple paddy soil is environmentally unsustainable in terms of the adverse impact on surface water quality. Integrated P management practices are urgently required to optimise crop yield while minimising P loss in order to protect surface water quality in the TGR region. © 2013 Society of Chemical Industry.

Human Capital as a Binding Constraint to Economic Growth: The Case of Macedonia

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Darko Lazarov

2016-06-01

Full Text Available The main objective of the paper is to explore the assumption if the lack of skilled and well-educated workforces (human capital holds a potential of a binding constraint to economic growth of the Macedonian economy. Not neglecting growth econometrics’ insights for the investigation of the relationship between human capital and economic growth, the work is primarily based on a growth diagnostic approach. The empirical techniques used in this paper are: growth accounting decomposition production method; macro and micro assessment of the return rate on investment in human capital; and, comparative benchmark analysis concerns with regard to unemployment distribution according to education and age structure and companies’ perceptions about the quality of workforce. The estimated results indicate an important contribution of human capital to economic growth (its relative contribution in terms of growth rate composition is approximately 22 percent. The macro and micro assessment of the rate of return on investment in human capital shows that the rate of return to higher education is significantly superior to corresponding returns to secondary education. Finally, the international benchmark analysis helps in comparative human capital impact analysis (educational structure of labor force in the wider region. Predominantly, it is based on educational structure, unemployment distribution and the companies’ perception about the quality of the workforce.

Time-varying Capital Requirements and Disclosure Rules

DEFF Research Database (Denmark)

Kragh, Jonas; Rangvid, Jesper

, implying that resilience in the banking system is also increased. The increase in capital ratios is partly due to a modest reduction in lending. Using a policy changes, we show that banks react stronger to changes in capital requirements when these are public. Our results further suggest that the impact......Unique and confidential Danish data allow us to identify how changes in disclosure requirements and bank-specific time-varying capital requirements affect banks' lending and capital accumu-lation decisions. We find that banks increase their capital ratios after capital requirements are increased...... of capital requirements differ for small and large banks. Large banks raise their capital ratios more, reduce lending less, and accumulate more new capital compared to small banks....

Importancia de la administración eficiente del capital de trabajo en las Pymes

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García-Aguilar, Juanita

2017-08-01

Full Text Available This paper aims to analyze the importance of an efficient administration of working capital, as a strategy to achieve the operation of SMEs and their permanence in time. Working capital is the minimum cash that every company needs to execute its operating activities normally. Proper management of the asset enables to have the necessary liquidity to cover short-term obligations, as a result of the efficient application of the cash conversion cycle. For this, a methodology of documentary analysis was applied taking as reference secondary research sources, such as books and scientific papers. Based on the above, the theoretical foundations of working capital, their methods of calculation and a review of research on the management of working capital in Latin American SMEs were analyzed. As a result, it was determined that working capital is a financial tool that every manager must pay attention and spend time, because it determines the survival of a company in the early years of its existence. On the other hand, there are some calculation methods to estimate working capital, each has its essential characteristics and its application depends on the activity to which the organization is committed.

Intellectual Capital: Comparison and Contrast.

Science.gov (United States)

Madsen, Susan R.

2001-01-01

Suggests that one of the most important keys for improving individual and organizational performance is in developing and strengthening intellectual capital (IC) and explores the similarities and differences between the concepts of intellectual capital, human capital, and knowledge management. Presents four IC characteristics and addresses the…

The New Spirit of Capitalism in European Liberal Arts Programs

Science.gov (United States)

Claus, Jakob; Meckel, Thomas; Pätz, Farina

2018-01-01

The following paper suggests a connection between recent developments in the justification of the capitalist system and contemporary European Liberal Arts programs. By looking at Luc Boltanski's and Eve Chiapello's study on "The New Spirit Of Capitalism" and Gilles Deleuze's term of "societies of control" we highlight a pivot…

Does the Method of Weight Loss Effect Long-Term Changes in Weight, Body Composition or Chronic Disease Risk Factors in Overweight or Obese Adults? A Systematic Review

Science.gov (United States)

Washburn, Richard A.; Szabo, Amanda N.; Lambourne, Kate; Willis, Erik A.; Ptomey, Lauren T.; Honas, Jeffery J.; Herrmann, Stephen D.; Donnelly, Joseph E.

2014-01-01

Background Differences in biological changes from weight loss by energy restriction and/or exercise may be associated with differences in long-term weight loss/regain. Objective To assess the effect of weight loss method on long-term changes in weight, body composition and chronic disease risk factors. Data Sources PubMed and Embase were searched (January 1990-October 2013) for studies with data on the effect of energy restriction, exercise (aerobic and resistance) on long-term weight loss. Twenty articles were included in this review. Study Eligibility Criteria Primary source, peer reviewed randomized trials published in English with an active weight loss period of >6 months, or active weight loss with a follow-up period of any duration, conducted in overweight or obese adults were included. Study Appraisal and Synthesis Methods Considerable heterogeneity across trials existed for important study parameters, therefore a meta-analysis was considered inappropriate. Results were synthesized and grouped by comparisons (e.g. diet vs. aerobic exercise, diet vs. diet + aerobic exercise etc.) and study design (long-term or weight loss/follow-up). Results Forty percent of trials reported significantly greater long-term weight loss with diet compared with aerobic exercise, while results for differences in weight regain were inconclusive. Diet+aerobic exercise resulted in significantly greater weight loss than diet alone in 50% of trials. However, weight regain (∼55% of loss) was similar in diet and diet+aerobic exercise groups. Fat-free mass tended to be preserved when interventions included exercise. PMID:25333384

Collective Competence and Social Capital Analysis in Collaborative Networks

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Janaina Macke

2010-06-01

Full Text Available The present paper addresses the issue of collective competence and social capital analysis for collaborative networks. The objective of the project is to understand how collaborative networks can be influenced considering the perspective of social capital and core competences. In this model we defend the emphasis on endogenous resources, once the technology is, in a general way, accessible to most of the companies and, therefore will not be a long term competitive advantage. The model shows that collaborative networks will be more competitive and successful if they invest in to core elements that are: organizational culture and people. Therefore, the model contributes for the researches in socio-organizational filed and provides a tool to evaluate collaborative networks.

Values beyond value? Is anything beyond the logic of capital?

Science.gov (United States)

Skeggs, Bev

2014-03-01

We are living in a time when it is frequently assumed that the logic of capital has subsumed every single aspect of our lives, intervening in the organization of our intimate relations as well as the control of our time, including investments in the future (e.g. via debt). The theories that document the incursion of this logic (often through the terms of neoliberalism and/or governmentality) assume that this logic is internalized, works and organizes everything including our subjectivity. These theories performatively reproduce the very conditions they describe, shrinking the domain of values and making it subject to capital's logic. All values are reduced to value. Yet values and value are always dialogic, dependent and co-constituting. In this paper I chart the history by which value eclipses values and how this shrinks our sociological imagination. By outlining the historical processes that institutionalized different organizations of the population through political economy and the social contract, producing ideas of proper personhood premised on propriety, I detail how forms of raced, gendered and classed personhood was formed. The gaps between the proper and improper generate significant contradictions that offer both opportunities to and limits on capitals' lines of flight. It is the lacks, the residues, and the excess that cannot be captured by capital's mechanisms of valuation that will be explored in order to think beyond the logic of capital and show how values will always haunt value. © London School of Economics and Political Science 2014.

Review of Capitalism in the Web of Life. Ecology and Accumulation of Capital (Moore, 2015

Directory of Open Access Journals (Sweden)

Germán Palacio

2017-01-01

Full Text Available Jason Moore. 2015. Capitalism in the Web of Life. Ecology and Accumulation of Capital [Capitalismo en la red de la vida. Ecología y acumulación de capital]. London – New York: Verso Books. 336 pp. ISBN 978-1781689028.

Intellectual capital and relational capital: The role of sustainability in developing corporate reputation

OpenAIRE

Patricia Martínez García de Leaniz; Ignacio Rodríguez del Bosque

2013-01-01

Purpose: Intellectual capital offers a potential source of sustainable competitive advantage and is believed to be the source from which economic growth may sprout. However, not many papers analyze the effect of sustainability in the elements involving intellectual capital. This paper seeks to highlight the key role played by corporate sustainability on corporate reputation as one of the key components of relational capital based on the knowledge-based theory.Design/methodology/approach: Auth...

Handbook of Social Capital

DEFF Research Database (Denmark)

The Handbook of Social Capital balances the ‘troika' of sociology, political science and economics by offering important contributions to the study of bonding and bridging social capital networks. This inter-disciplinary Handbook intends to serve as a bridge for students and scholars within all...... the social sciences. The contributors explore the different scientific approaches that are all needed if international research is to embrace both the bright and the more shadowy aspects of social capital....

Modern Human Capital Management

OpenAIRE

Feldberger, Madita

2008-01-01

Title: Modern Human Capital Management Seminar date: 30th of May 2008 Course: Master thesis in Business Administration, 15 ECTS Authors: Madita Feldberger Supervisor: Lars Svensson Keywords: Human capital, SWOT Analysis, Strategic Map, Balanced Scorecard Research Problem: Despite of the success of Human Capital Management (HCM) in research it did not arrive yet in the HR departments of many companies. Numerous firms even have problems to set their strategic goals with focus on HR. The HR Bala...

The "Network Ethic" and the New Spirit of Capitalism in French Sociology of Capitalism

DEFF Research Database (Denmark)

Jagd, Søren

2005-01-01

forms of organisation have received less attention. In this paper I discuss a recent French contribution to the analysis of the cultural aspects of networks: Boltanski & Chiapello’s book Le nouvel esprit du capitalisme (Boltanski and Chiapello 1999). The contribution is important for recent discussions...... of a network perspective on organisations in several ways. First, drawing on Weber’s earlier discussion of the rise of the capitalist spirit, Boltanski and Chiapello proposes an interesting theoretical model of the change of capitalism relating two different types of cultural elements: the ‘spirit...... of capitalism’ and criticism of capitalism to processes of change in the form of capitalism. Second, Boltanski and Chiapello directs a critical perspective on the emergent model of ‘network capitalism’ and its accompanying spirit applying the theoretical framework of ‘worlds of justification’ developed earlier...

Exploring the social capital grid

DEFF Research Database (Denmark)

Svendsen, Gunnar Lind Haase; Patulny, Roger

2007-01-01

The purpose of this paper is to show that numerous studies have advanced social capital research over the past decade. Most studies have accepted the theoretical distinction between bonding and bridging social capital networks. Many, however, tend to agglomerate empirical research under the one...... catch-all social capital concept, rather than classifying it according to the bonding/bridging distinction. Furthermore, most studies make little distinction on the basis of methodology, between qualitative and quantitative approaches to investigating social capital. These omissions need to be addressed....

Macroprudential Policy, Countercyclical Bank Capital Buffers and Credit Supply : Evidence from the Spanish Dynamic Provisioning Experiments

NARCIS (Netherlands)

Jiménez, G.; Ongena, S.; Peydro, J.L.; Saurina, J.

2012-01-01

Abstract: We analyze the impact of the countercyclical capital buffers held by banks on the supply of credit to firms and their subsequent performance. Countercyclical ‘dynamic’ provisioning that is unrelated to specific loan losses was introduced in Spain in 2000, and modified in 2005 and 2008.

Immigrant Capital and Entrepreneurial Opportunities

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Malavika Sundararajan

2016-01-01

Full Text Available Objective: The main objective of this study is to define and operationalize the concept of immigrant capital, a key factor that differentiates immigrant from host country entrepreneurs in how they recognize and start new ventures. Research Design & Methods: A detailed analysis of contemporary immigrant entrepreneurship and opportunity recognition literature was carried out. Using grounded theory, we synthesized the outcomes from the analysis of eight Canadian and U.S. case studies of successful immigrant entrepreneurs with the key findings from the literature to define and develop a model of immigrant capital. Findings: Based on our grounded theory development process we show that the concept of immigrant capital as a distillate of human, cultural, economic and social capital that goes beyond expected opportunity recognition (OR drivers like prior knowledge and prior experience to differentiate and enhance the immigrant entrepreneur’s ability to recognize business opportunities compared to host country entrepreneurs. We found immigrant capital to be a consequence of being boundary spanners in host and home country networks. Implications & Recommendations: Understanding a unique resource like immigrant capital, will help immigrant as well as host country entrepreneurs further develop their opportunity recognition ability by bridging gaps and fulfilling the needs for both, immigrant and host country consumers. Contribution & Value Added: The main contribution is the theoretical development, identification and definition of the immigrant capital model and propositions that will articulate the factors that lead to the conceptualization and operationalization of immigrant capital. Furthermore, the immigrant capital model can serve host country entrepreneurs to develop cross-cultural networks and jump-start entrepreneurial activities in their home countries as well as learn how to expand their operations into global markets.

The efficacy of a technology-based system in a short-term behavioral weight loss intervention.

Science.gov (United States)

Polzien, Kristen M; Jakicic, John M; Tate, Deborah F; Otto, Amy D

2007-04-01

The objective was to examine the efficacy of adding a technology-based program to an in-person, behavioral weight loss intervention. Fifty-seven subjects (BMI=33.1+/-2.8 kg/m2; age=41.3+/-8.7 years) participated in a 12-week intervention with random assignment to Standard In-Person Behavioral Weight Control Program (SBWP) or Intermittent or Continuous Technology-Based Program (INT-TECH, CON-TECH). SBWP subjects received seven individualized weight loss sessions encouraging dietary and exercise modifications. INT-TECH and CON-TECH subjects received all SBWP components; additionally, these groups used a SenseWear Pro Armband (BodyMedia, Inc.) to monitor energy expenditure and an Internet-based program to monitor eating behaviors. These features were used by INT-TECH subjects during weeks 1, 5, and 9 and CON-TECH subjects weekly throughout the intervention. Intent-to-treat analysis revealed weight loss of 4.1+/-2.8 kg, 3.4+/-3.4 kg, and 6.2+/-4.0 kg, for SBWP, INT-TECH, and CON-TECH groups, respectively (CON-TECH>INT-TECH, ptechnology-based program needs to be used continuously throughout the intervention period to significantly impact weight loss. Future studies should examine the long-term and independent effect of this technology on weight loss, and for whom this intervention format is most effective.

26 CFR 1.735-1 - Character of gain or loss on disposition of distributed property.

Science.gov (United States)

2010-04-01

... TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Distributions by A Partnership § 1.735-1 Character... him in a distribution from a partnership shall be considered gain or loss from the sale or exchange of property other than a capital asset. (2) Inventory items. Any gain realized or loss sustained by a partner...

Does human capital matter? A meta-analysis of the relationship between human capital and firm performance.

Science.gov (United States)

Crook, T Russell; Todd, Samuel Y; Combs, James G; Woehr, David J; Ketchen, David J

2011-05-01

Theory at both the micro and macro level predicts that investments in superior human capital generate better firm-level performance. However, human capital takes time and money to develop or acquire, which potentially offsets its positive benefits. Indeed, extant tests appear equivocal regarding its impact. To clarify what is known, we meta-analyzed effects drawn from 66 studies of the human capital-firm performance relationship and investigated 3 moderators suggested by resource-based theory. We found that human capital relates strongly to performance, especially when the human capital in question is not readily tradable in labor markets and when researchers use operational performance measures that are not subject to profit appropriation. Our results suggest that managers should invest in programs that increase and retain firm-specific human capital.

Capital Markets, Infrastructure Investment and Growth in the Asia Pacific Region

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Michael Regan

2017-02-01

Full Text Available This paper examines the relationship between infrastructure investment activity, capital market development, the role of public institutions and economic development in the Asia Pacific. It adopts a review approach drawing on empirical evidence over recent decades. Infrastructure is shown to be an important asset class playing a central role in a nation’s output, growth, productivity and microeconomic performance. Infrastructure investment also requires investment and predictions of a widening gap in the future supply of infrastructure in the Asia Pacific will require new forms of capital from both traditional and new sources including wider use of private participation, institutional investment, asset recycling and revenue bonds. Capital market development is also necessary to raise long-term local currency finance and evidence suggests that progress with regional capital market integration is slow and a continuing reform agenda is required. The dividend for regional countries is the prospect of higher levels of economic growth with infrastructure investment, capital market development, and foreign direct investment shown to have a strong and positive association with growth. A crucial link in this association identified in the review is the part played by national and regional institutions in improving the efficiency with which infrastructure is managed and providing promising ground for further research where the importance of these links can be researched in greater depth.

Financing Small Businesses: From Venture Capital to Crowdfunding

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Herciu Mihaela

2017-08-01

Full Text Available Startups and small businesses are facing many challenges in terms of financing their activities. These types of companies do not have the possibility to access capital market or to make IPO or to borrow money from banks like big, mature or well-known companies (who were at their beginnings startups or small businesses. They have to find different sources for financing their ideas/products/services that are in many cases very risky, hazardous or to ambitious. But, fortunately, the financing alternative for these companies have evolved during the last post crisis years. They have possibility to find some investors that are willing to invest in a non-name company by accessing crowdfunding platforms, impress angel investors, or attracting venture capital. All that in order to develop their business and to become a unicorn or to have a great exit.

SOCIAL CAPITAL AND CIVIC PARTICIPATION

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Melike ERDOGAN

2010-07-01

Full Text Available The concept of social capital has a long intellectual history in the fie ld of social sciences. In recent years, interest of scholars from sociology, po litical science, economics and public administration is rapidly increasing. The reason for this increasing interest is that it has been aware of the importance of social capital in communities’ administrative, social, economic and political development. In this sense, the concept of social ca pital is an issue to be discussed with solution of current problems of public administration, subjects of governance, civil society, and participation. Social capital has a lot of definitions which are completely different from each other. Common point of these different definitions is that social capital is a resource at both individual and community level. We will use Robert Putnam’s defi nition about social cap ital in this paper. Putnam (1993 defines social capital as “features of social organization, such as trust, norms, and networks that can improve the efficiency of society by facilitating coordinated action”. In his book; Bowling Alone: The Collapse and Revival of the American Community, Putnam describes declining social capital in America. He analyzes relationship between social capital and civic participation and assumes that there is a positive relationship between social capital and civic participation. The paper aims to reveal how there is a relationshi p between social capital and civic participation in Central Florida. We will use “The Central Florida Social Capital Community Benchmark Survey that is made by The Survey Research Labora tory in the Ins titute for Social and Behavior Sciences at the University of Central Florida among central Florida residents. We use notion of civic participation not only as voting but also as concern of politics, volunteering, attending a political meeting, participating in any demonstrations, protests or boycotts, cooperating to solve problems and

Corruption Significantly Increases the Capital Cost of Power Plants in Developing Contexts

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Kumar Biswajit Debnath

2018-03-01

Full Text Available Emerging economies with rapidly growing population and energy demand, own some of the most expensive power plants in the world. We hypothesized that corruption has a relationship with the capital cost of power plants in developing countries such as Bangladesh. For this study, we analyzed the capital cost of 61 operational and planned power plants in Bangladesh. Initial comparison study revealed that the mean capital cost of a power plant in Bangladesh is twice than that of the global average. Then, the statistical analysis revealed a significant correlation between corruption and the cost of power plants, indicating that higher corruption leads to greater capital cost. The high up-front cost can be a significant burden on the economy, at present and in the future, as most are financed through international loans with extended repayment terms. There is, therefore, an urgent need for the review of the procurement and due diligence process of establishing power plants, and for the implementation of a more transparent system to mitigate adverse effects of corruption on megaprojects.

Grandparent-grandchild family capital and self-rated health of older rural Chinese adults: the role of the grandparent-parent relationship.