5 CFR 845.304 - Financial hardship.

Science.gov (United States)

2010-01-01

...) Considerations. Some pertinent considerations in determining whether recovery would cause financial hardship are... 5 Administrative Personnel 2 2010-01-01 2010-01-01 false Financial hardship. 845.304 Section 845....304 Financial hardship. Financial hardship may be deemed to exist in, but not limited to, those...

Functional locomotor consequences of uneven forefeet for trot symmetry in individual riding horses

NARCIS (Netherlands)

Wiggers, Nathan; Nauwelaerts, Sandra L P; Hobbs, Sarah Jane; Bool, Sophie; Wolschrijn, Claudia F; Back, Wim

2015-01-01

Left-right symmetrical distal limb conformation can be an important prerequisite for a successful performance, and it is often hypothesized that asymmetric or uneven feet are important enhancing factors for the development of lameness. On a population level, it has been demonstrated that uneven

Home dispossession: the uneven geography of evictions in Palma (Majorca

Directory of Open Access Journals (Sweden)

Vives-Miró, Sònia

2015-09-01

Full Text Available Affordable housing, either owner-occupied or rented, is regarded as a key element of social reproduction. However, processes of housing commodification and financialization have increasingly resulted in precariatization of the population and the loss of the right to housing. In the Spanish case, neoliberal policies geared to the revalorization of built environments had caused a housing bubble of historical magnitude. Since it burst, a large number of households have been dispossessed of housing, clearly reflected in the avalanche of foreclosures and evictions that hit Spanish cities as the crisis unfolded. This paper focuses on the urban area of Palma (Majorca by analyzing the foreclosures exerted on home­owners and the evictions of tenants who, from the start of the crisis of 2008, have not been able to afford their mortgage payments or rents. These evictions and foreclosures are correlated with the social status of the urban areas affected. The results show that the increase of evictions and foreclosures has emerged unevenly around the city. While tenant evictions have affected all types of urban areas, foreclosures have become much more evident in urban areas of low social status.

Analysis on the Spatial-Temporal Dynamics of Financial Agglomeration with Markov Chain Approach in China

Directory of Open Access Journals (Sweden)

Weimin Chen

2014-01-01

Full Text Available The standard approach to studying financial industrial agglomeration is to construct measures of the degree of agglomeration within financial industry. But such measures often fail to exploit the convergence or divergence of financial agglomeration. In this paper, we apply Markov chain approach to diagnose the convergence of financial agglomeration in China based on the location quotient coefficients across the provincial regions over 1993–2011. The estimation of Markov transition probability matrix offers more detailed insights into the mechanics of financial agglomeration evolution process in China during the research period. The results show that the spatial evolution of financial agglomeration changes faster in the period of 2003–2011 than that in the period of 1993–2002. Furthermore, there exists a very uneven financial development patterns, but there is regional convergence for financial agglomeration in China.

the dutch crisis and recovery act: economic recovery and legal crisis

African Journals Online (AJOL)

Jonathan

THE DUTCH CRISIS AND RECOVERY ACT: ECONOMIC RECOVERY AND. LEGAL CRISIS? J Verschuuren. 1 Introduction. Throughout the world, governments are responding to the financial and economic crisis. Such responses vary from supporting the banking system to adopting economic stimulus packages. The latter ...

A High-Efficiency Uneven Cluster Deployment Algorithm Based on Network Layered for Event Coverage in UWSNs

Directory of Open Access Journals (Sweden)

Shanen Yu

2016-12-01

Full Text Available Most existing deployment algorithms for event coverage in underwater wireless sensor networks (UWSNs usually do not consider that network communication has non-uniform characteristics on three-dimensional underwater environments. Such deployment algorithms ignore that the nodes are distributed at different depths and have different probabilities for data acquisition, thereby leading to imbalances in the overall network energy consumption, decreasing the network performance, and resulting in poor and unreliable late network operation. Therefore, in this study, we proposed an uneven cluster deployment algorithm based network layered for event coverage. First, according to the energy consumption requirement of the communication load at different depths of the underwater network, we obtained the expected value of deployment nodes and the distribution density of each layer network after theoretical analysis and deduction. Afterward, the network is divided into multilayers based on uneven clusters, and the heterogeneous communication radius of nodes can improve the network connectivity rate. The recovery strategy is used to balance the energy consumption of nodes in the cluster and can efficiently reconstruct the network topology, which ensures that the network has a high network coverage and connectivity rate in a long period of data acquisition. Simulation results show that the proposed algorithm improves network reliability and prolongs network lifetime by significantly reducing the blind movement of overall network nodes while maintaining a high network coverage and connectivity rate.

Evaluation of uneven fractionation radiotherapy of cervical lymph node-metastases by linear quadratic model

International Nuclear Information System (INIS)

Sasaki, Takehito; Kamata, Rikisaburo; Urahashi, Shingo; Yamaguchi, Tetsuji.

1993-01-01

One hundred and sixty-nine cervical lymph node-metastases from head and neck squamous cell carcinomas treated with either even fractionation or uneven fractionation regimens were analyzed in the present investigation. Logistic multivariate regression analysis indicated that: type of fractionation (even vs uneven), size of metastases, T value of primary tumors, and total dose are independent variables out of 18 variables that significantly influenced the rate of tumor clearance. The data, with statistical bias corrected by the regression equation, indicated that the uneven fractionation scheme significantly improved the rate of tumor clearance for the same size of metastases, total dose, and overall time compared to the even fractionation scheme. Further analysis by a linear-quadratic cell survival model indicated that the clinical improvement by uneven fractionation might not be explained entirely by a larger dose per fraction. It is suggested that tumor cells irradiated with an uneven fractionation regimen might repopulate more slowly, or they might be either less hypoxic or redistributed in a more radiosensitive phase in the cell cycle than those irradiated with even fractionation. This conclusion is clearly not definite, but it is suitable, pending the results of further investigation. (author)

Economic considerations of uneven-age hardwood management

Science.gov (United States)

H. Clay Smith; Gary W. Miller

1987-01-01

Uneven-age management or partial cutting methods as described in this paper allow foresters to manage eastern hardwood stands and harvest forest products without clearcutting. These methods can involve regular periodic harvests, at least for the short term, based on stand conditions and growing-site capabilities. We are not going to make the decision as to which is the...

An uneven-aged management strategy: lessons learned

Science.gov (United States)

Mark T. Smith; John D. Exline

2002-01-01

Use of an ecosystem approach at a landscape scale to program and guide accomplishments of multi-resource and social objectives has been discussed between researchers and natural resource managers for many years. Presently, great interest exists in the applicability of uneven-aged management practices for such an approach in conifer forests of the Sierra Nevada of...

A Trust-driven Financial Crisis.Implications for the Future of Financial Markets.

OpenAIRE

Luigi Guiso

2010-01-01

The financial crisis has brought to light diffuse opportunistic behaviour and some serious frauds. Because of this trust towards banks, bankers, brokers and the stock market has collapsed to unprecedented levels and there are so far no signs of recovery. This paper uses survey-based information to document the collapse of trust, show its link to the emergence of frauds in the financial industry and discuss its consequences for the demand of financial instruments, investors portfolios and more...

MO-FG-204-08: Optimization-Based Image Reconstruction From Unevenly Distributed Sparse Projection Views

International Nuclear Information System (INIS)

Xie, Huiqiao; Yang, Yi; Tang, Xiangyang; Niu, Tianye; Ren, Yi

2015-01-01

Purpose: Optimization-based reconstruction has been proposed and investigated for reconstructing CT images from sparse views, as such the radiation dose can be substantially reduced while maintaining acceptable image quality. The investigation has so far focused on reconstruction from evenly distributed sparse views. Recognizing the clinical situations wherein only unevenly sparse views are available, e.g., image guided radiation therapy, CT perfusion and multi-cycle cardiovascular imaging, we investigate the performance of optimization-based image reconstruction from unevenly sparse projection views in this work. Methods: The investigation is carried out using the FORBILD and an anthropomorphic head phantoms. In the study, 82 views, which are evenly sorted out from a full (360°) axial CT scan consisting of 984 views, form sub-scan I. Another 82 views are sorted out in a similar manner to form sub-scan II. As such, a CT scan with sparse (164) views at 1:6 ratio are formed. By shifting the two sub-scans relatively in view angulation, a CT scan with unevenly distributed sparse (164) views at 1:6 ratio are formed. An optimization-based method is implemented to reconstruct images from the unevenly distributed views. By taking the FBP reconstruction from the full scan (984 views) as the reference, the root mean square (RMS) between the reference and the optimization-based reconstruction is used to evaluate the performance quantitatively. Results: In visual inspection, the optimization-based method outperforms the FBP substantially in the reconstruction from unevenly distributed, which are quantitatively verified by the RMS gauged globally and in ROIs in both the FORBILD and anthropomorphic head phantoms. The RMS increases with increasing severity in the uneven angular distribution, especially in the case of anthropomorphic head phantom. Conclusion: The optimization-based image reconstruction can save radiation dose up to 12-fold while providing acceptable image quality

22 CFR 17.5 - Financial hardship.

Science.gov (United States)

2010-04-01

...) Considerations. Some pertinent considerations in determining whether recovery would cause financial hardship are... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Financial hardship. 17.5 Section 17.5 Foreign... SYSTEM (FSPS) § 17.5 Financial hardship. (a) Waiver of overpayment will not be allowed in any case prior...

Disentangling the geography of finance and real estate: competing space-times of decision-making and uneven spatial development

Directory of Open Access Journals (Sweden)

Sabine Dörry

2012-11-01

Full Text Available The versatile ‘city building’ processes are in the focus of this issue. The author’s papers deal with a plurality of related issues such as the complexities of the increasing transparency of local property markets or the tight relations between city planners and (inter-national investors. As the built environment decides on a city’s economic prospect and determines future planning and development opportunities, the consequences of city building processes are multifaceted. Financial processes of urban (redevelopment, for example, are discussed at the cutting edge of a larger process of uneven development, which is rooted in the structure of the capitalist mode of production and fuels controversial debates on the ownership of the city. The current edition aims to attract further attention to the complex of financial matters and the production of the built environment with the intention to locate both more centrally within geography, planning, and economics. Against this background, this introduction spans the idea of the decision-making itself in financial and real estate markets, which can neither be limited to a singular moment nor be separated from the context in which they take place. Disentangling these market interdependencies and illustrating the context dependency of decision-making is a common theme in all of the papers included in this issue.

Frame Complexity and the Financial Crisis

DEFF Research Database (Denmark)

Kleinnijenhuis, Jan; Schultz, Friederike; Oegema, Dirk

2015-01-01

. The financial crisis in the United States, the United Kingdom, and Germany (2007–2012) offers an example. An automated content analysis was applied to over 160,000 newspaper articles. Frame complexity decreased until the spotlight fell on the demise of Bear Stearns and Lehman Brothers (2008). The subsequent...... gradual recovery was only partly interrupted by the euro crisis. A Vector AutoRegression time series analysis shows that increasing frame complexity may indeed have fostered the recovery of financial markets and consumer confidence....

Money matters: Rapid post-earthquake financial decision-making

Science.gov (United States)

Wald, David J.; Franco, Guillermo

2016-01-01

Post-earthquake financial decision-making is a realm beyond that of many people. In the immediate aftermath of a damaging earthquake, billions of dollars of relief, recovery, and insurance funds are in the balance through new financial instruments that allow those with resources to hedge against disasters and those at risk to limit their earthquake losses and receive funds for response and recovery.

Uneven batch data alignment with application to the control of batch end-product quality.

Science.gov (United States)

Wan, Jian; Marjanovic, Ognjen; Lennox, Barry

2014-03-01

Batch processes are commonly characterized by uneven trajectories due to the existence of batch-to-batch variations. The batch end-product quality is usually measured at the end of these uneven trajectories. It is necessary to align the time differences for both the measured trajectories and the batch end-product quality in order to implement statistical process monitoring and control schemes. Apart from synchronizing trajectories with variable lengths using an indicator variable or dynamic time warping, this paper proposes a novel approach to align uneven batch data by identifying short-window PCA&PLS models at first and then applying these identified models to extend shorter trajectories and predict future batch end-product quality. Furthermore, uneven batch data can also be aligned to be a specified batch length using moving window estimation. The proposed approach and its application to the control of batch end-product quality are demonstrated with a simulated example of fed-batch fermentation for penicillin production. Copyright © 2013 ISA. Published by Elsevier Ltd. All rights reserved.

Numerical Simulation of Bulging Deformation for Wide-Thick Slab Under Uneven Cooling Conditions

Science.gov (United States)

Wu, Chenhui; Ji, Cheng; Zhu, Miaoyong

2018-06-01

In the present work, the bulging deformation of a wide-thick slab under uneven cooling conditions was studied using finite element method. The non-uniform solidification was first calculated using a 2D heat transfer model. The thermal material properties were derived based on a microsegregation model, and the water flux distribution was measured and applied to calculate the cooling boundary conditions. Based on the solidification results, a 3D bulging model was established. The 2D heat transfer model was verified by the measured shell thickness and the slab surface temperature, and the 3D bulging model was verified by the calculated maximum bulging deflections using formulas. The bulging deformation behavior of the wide-thick slab under uneven cooling condition was then determined, and the effect of uneven solidification, casting speed, and roll misalignment were investigated.

Numerical Simulation of Bulging Deformation for Wide-Thick Slab Under Uneven Cooling Conditions

Science.gov (United States)

Wu, Chenhui; Ji, Cheng; Zhu, Miaoyong

2018-02-01

In the present work, the bulging deformation of a wide-thick slab under uneven cooling conditions was studied using finite element method. The non-uniform solidification was first calculated using a 2D heat transfer model. The thermal material properties were derived based on a microsegregation model, and the water flux distribution was measured and applied to calculate the cooling boundary conditions. Based on the solidification results, a 3D bulging model was established. The 2D heat transfer model was verified by the measured shell thickness and the slab surface temperature, and the 3D bulging model was verified by the calculated maximum bulging deflections using formulas. The bulging deformation behavior of the wide-thick slab under uneven cooling condition was then determined, and the effect of uneven solidification, casting speed, and roll misalignment were investigated.

Financial and Organizational Aspects of the Recovery of Hydrocarbon Resource Base in the Regional Context

Directory of Open Access Journals (Sweden)

Irina Valeryevna Sharf

2017-06-01

Full Text Available The characteristics of hydrocarbon resource base qualitative and quantitative degrade are reflected in the increase of the share of small and medium−sized deposits, as well as hard−to−recover reserves. This makes the need to update the approaches to the implementation of the geological prospecting programmes. The geological exploration performance differs in oil−producing regions of the Russian Federation due to a number of various factors. The subject matter of the study is the assessment of the strength of these factors in various working, geological, infrastructure and economic conditions to determine the effectiveness of the existing economic model of the recovery of hydrocarbon resource base, as well as to develop the author’s suggestions. The hypothesis of the study proposes to change the economic, as well as financial and tax mechanisms of government regulation of the geological exploration, carried out by small oil producing companies on license areas with one or several fields in order to stimulate the development of hydrocarbon resource base. The method of the study is the correlation analysis of the impact of various factors on geological exploration on mineral resource base recovery. It is carried out utilizing K. Mohn model and the statistical data of three subjects of the Russian Federation (the Republic of Tatarstan, Khanty−Mansiysk Autonomous District and Tomsk region. The results of the study can be applied in the tax and financial legislation, as well as in the management of oil and gas industry in the field of geological exploration. On the basis of the conducted analysis and international experience, the author suggests to introduce reasonable tax incentives and the mechanism of public private partnership in the realization of geological prospecting programmes with the aim to support small oil producing companies at the initial stage of the development of a field.

Pose estimation-based path planning for a tracked mobile robot traversing uneven terrains

OpenAIRE

Jun , Jae-Yun; Saut , Jean-Philippe; Benamar , Faïz

2015-01-01

International audience; A novel path-planning algorithm is proposed for a tracked mobile robot to traverse uneven terrains, which can efficiently search for stability sub-optimal paths. This algorithm consists of combining two RRT-like algorithms (the Transition-based RRT (T-RRT) and the Dynamic-Domain RRT (DD-RRT) algorithms) bidirectionally and of representing the robot-terrain interaction with the robot’s quasi-static tip-over stability measure (assuming that the robot traverses uneven ter...

Optimal uneven-aged stocking guides: an application to spruce-fir stands in New England

Science.gov (United States)

Jeffrey H. Gove; Mark J. Ducey

2014-01-01

Management guides for uneven-aged forest stands periodically need to be revisited and updated based on new information and methods. The current silvicultural guide for uneven-aged spruce-fir management in Maine and the northeast (Frank, R.M. and Bjorkbom, J.C. 1973 A silvicultural guide for spruce-fir in the northeast. General Technical Report NE-6, Forest Service. U.S...

Periodic spring–mass running over uneven terrain through feedforward control of landing conditions

International Nuclear Information System (INIS)

III, Luther R Palmer; Eaton, Caitrin E

2014-01-01

This work pursues a feedforward control algorithm for high-speed legged locomotion over uneven terrain. Being able to rapidly negotiate uneven terrain without visual or a priori information about the terrain will allow legged systems to be used in time-critical applications and alongside fast-moving humans or vehicles. The algorithm is shown here implemented on a spring-loaded inverted pendulum model in simulation, and can be configured to approach fixed running height over uneven terrain or self-stable terrain following. Offline search identifies unique landing conditions that achieve a desired apex height with a constant stride period over varying ground levels. Because the time between the apex and touchdown events is directly related to ground height, the landing conditions can be computed in real time as continuous functions of this falling time. Enforcing a constant stride period reduces the need for inertial sensing of the apex event, which is nontrivial for physical systems, and allows for clocked feedfoward control of the swing leg. (paper)

Periodic spring-mass running over uneven terrain through feedforward control of landing conditions.

Science.gov (United States)

Palmer, Luther R; Eaton, Caitrin E

2014-09-01

This work pursues a feedforward control algorithm for high-speed legged locomotion over uneven terrain. Being able to rapidly negotiate uneven terrain without visual or a priori information about the terrain will allow legged systems to be used in time-critical applications and alongside fast-moving humans or vehicles. The algorithm is shown here implemented on a spring-loaded inverted pendulum model in simulation, and can be configured to approach fixed running height over uneven terrain or self-stable terrain following. Offline search identifies unique landing conditions that achieve a desired apex height with a constant stride period over varying ground levels. Because the time between the apex and touchdown events is directly related to ground height, the landing conditions can be computed in real time as continuous functions of this falling time. Enforcing a constant stride period reduces the need for inertial sensing of the apex event, which is nontrivial for physical systems, and allows for clocked feedfoward control of the swing leg.

FACTORS THAT MAY DETERMINE THE RECOVERY RATE OF FINANCIAL RISK DAMAGES

Directory of Open Access Journals (Sweden)

Nicoleta Diana Rosioru

2015-05-01

Full Text Available The information about the performance of a company, especially about its profitability, are useful to the consideration of potential changes of the economic resources, which the company might further control and the forecast of the ability to generate treasury flows by the existent resources. Also, based on the performance, judgments are expressed, aiming the efficiency whereof the company may use new resources. The performance of company may be influenced by its financial risk. The financial risk is defined as “variability of result indicators, under the incidence of financial structure of the company” . It is established by “the financing policy of the company, by equity or loans”. The financial risk results by the structure of the company shareholding or by the use method of financial instruments. The financial risks result by different sources, including changes of the interest rate, currency trades, expansions of lending operations, issuance of shares, as well as the use of derived financial instruments (IFD.

Financial Shenanigans : A Case Study in Malaysia

OpenAIRE

Ooi, Ki Wei

2013-01-01

This study investigates the financial shenanigan cases which subject to the enforcement actions by the Malaysian Securities Commission between 2006 and 2011 for alleged financial misreporting. The scope of this study includes the attempts used, causes and consequences of the financial shenanigans and the post-financial shenanigans recovery plans devised to turnaround the companies. This study finds that the most common attempt used by the sample companies is overstating the revenue, follows b...

Analysis of physical training influence on the technical execution of the dismounts off the uneven bars

Directory of Open Access Journals (Sweden)

V. Potop

2018-02-01

Full Text Available Purpose: highlighting of physical training dynamics and its influence on the biomechanical characteristics of the dismounts off uneven bars executed by junior gymnasts aged 12 to 15 years. Material: a number of 8 gymnasts aged 12 to 15 participated in this research. They performed 12 dismounts off the uneven bars during the Women’s Artistic Gymnastics Junior National Championships in the all-around event and apparatus finals. The technical execution of the uneven bars dismounts was assessed by means of Physics ToolKit and Kinovea programs in accordance with the method of movement postural orientation, monitoring the key elements of sports technique. Seven tests of motricity were used in this study: 3 tests for strength-speed of lower limbs and arms, 3 tests for strength of the abdominal, back and complex muscles and 1 test of specific endurance. Results: We highlighted the level of specific physical training of junior gymnasts aged 12-15 years; the kinematic and dynamic analysis of the key elements of sports technique in terms of trajectories of body segments, angular speeds and moment of force in the dismounts off uneven bars; also, the dynamics of sports performances achieved in competitions. Conclusions: regarding the correlation of the physical training indicators with the indicators of the kinematic and dynamic characteristics of the dismounts off uneven bars consistent with the results achieved in competition, we revealed strong connections between indicators at P<0.05 and P<0.01 which confirms the influence of the physical training on the technical execution of the dismounts off uneven bars executed by junior gymnasts.

Using the RE-AIM Framework to Evaluate Disaster Recovery Videos

Directory of Open Access Journals (Sweden)

Sarah Cronin

2018-02-01

Full Text Available Natural disasters both increase and cause financial challenges for survivors. Crisis support reduces negative outcomes such as financial stress, yet survivors are often unaware or unable to access available services. Aiming to innovatively improve access to quality financial education and to support financial recovery post-disaster, a video series was developed with a community advisory board. The RE-AIM framework informed a developmental evaluation measuring the videos’ influence. Results indicated majority of participants have used or intend to use the videos in their disaster work. This indicates the video series may be a helpful tool for disaster responders when providing financial recovery support.

Uneven-aged silviculture can enhance within stand heterogeneity and beetle diversity.

Science.gov (United States)

Joelsson, Klara; Hjältén, Joakim; Work, Timothy

2018-01-01

Uneven-aged silviculture may better maintain species assemblages associated with old-growth forests than clear felling in part due to habitat heterogeneity created by maintaining standing retention strips adjacent to harvest trails. Retention strips and harvest trails created at the time of tree removal will likely have different microclimate and may harbor different assemblages. In some cases, the resultant stand heterogeneity associated with uneven-aged silviculture may be similar to natural small-scale disturbances. For beetles, increased light and temperature as well as potential access to young vegetation and deadwood substrates present in harvset trails may harbor beetle assemblages similar to those found in natural gaps. We sampled saproxylic beetles using flight intercept traps placed in harvest corridors and retention strips in 9 replicated uneven-aged spruce stands in central Sweden. We compared abundance, species richness and composition between harvest corridors and retention strips using generalized linear models, rarefaction, permutational multivariate analysis of variance and indicator species analysis. Canopy openness doubled, mean temperature and variability in daily temperature increased and humidity decreased on harvest trails. Beetle richness and abundance were greater in harvests trails than in retention strips and the beetle species composition differed significantly between habitats. Twenty-five species were associated with harvest trails, including three old-growth specialists such as Agathidium discoideum (Erichson), currently red-listed. We observed only one species, Xylechinus pilosus (Ratzeburg) that strongly favored retention strips. Harvest trails foster both open habitat species and old-growth species while retention strips harbored forest interior specialists. The combination of closed canopy, stratified forest in the retention strips and gap-like conditions on the harvest trails thus increases overall species richness and maintains

Energy recovery from wastes

International Nuclear Information System (INIS)

De Stefanis, P.

1999-01-01

In this paper are reported analysis of some energy recovery form wastes plants. In this work are considered materials and energy flows, environmental impacts and related treatment costs and financial resources [it

Impact of the global financial crisis on employed Australian baby boomers: a national survey.

Science.gov (United States)

O'Loughlin, Kate; Humpel, Nancy; Kendig, Hal

2010-06-01

This paper examines the impact of the global financial crisis (GFC) on employed Australian baby boomers. A nationally representative sample of 1009 boomers aged 50-64 years completed a survey by telephone interview mid 2009. Compared with 1 year ago, 38.9% of working boomers reported being financially worse off and this was more so for women (42.4%) than men (35.6%). Following the GFC, 41.4% of women and 31.9% of men had decided to postpone their retirement plans. The GFC is affecting the retirement preparations and plans of Australia's baby boomers. Policy implications include reduced resources for retirement needs, and uneven and differential impacts for those with interrupted employment histories, notably women.

An Uneven Illumination Correction Algorithm for Optical Remote Sensing Images Covered with Thin Clouds

Directory of Open Access Journals (Sweden)

Xiaole Shen

2015-09-01

Full Text Available The uneven illumination phenomenon caused by thin clouds will reduce the quality of remote sensing images, and bring adverse effects to the image interpretation. To remove the effect of thin clouds on images, an uneven illumination correction can be applied. In this paper, an effective uneven illumination correction algorithm is proposed to remove the effect of thin clouds and to restore the ground information of the optical remote sensing image. The imaging model of remote sensing images covered by thin clouds is analyzed. Due to the transmission attenuation, reflection, and scattering, the thin cloud cover usually increases region brightness and reduces saturation and contrast of the image. As a result, a wavelet domain enhancement is performed for the image in Hue-Saturation-Value (HSV color space. We use images with thin clouds in Wuhan area captured by QuickBird and ZiYuan-3 (ZY-3 satellites for experiments. Three traditional uneven illumination correction algorithms, i.e., multi-scale Retinex (MSR algorithm, homomorphic filtering (HF-based algorithm, and wavelet transform-based MASK (WT-MASK algorithm are performed for comparison. Five indicators, i.e., mean value, standard deviation, information entropy, average gradient, and hue deviation index (HDI are used to analyze the effect of the algorithms. The experimental results show that the proposed algorithm can effectively eliminate the influences of thin clouds and restore the real color of ground objects under thin clouds.

Structuring Disaster Recovery Infrastructure Decisions: Lessons from Boulder County's 2013 Flood Recovery

Science.gov (United States)

Clavin, C.; Petropoulos, Z.

2017-12-01

Recovery phase decision making processes, as compared to mitigation and response phase decision making processes, require communities make significant financial and capital decisions in the months after a disaster. Collectively, these investments may significantly contribute to the resilience of a community to future hazards. Pre-disaster administrative decisions are well-established within existing planning processes. Post-event recovery requires community decision makers to quickly evaluate technical proposals and manage significant recovery financial resources to ensure their community rebuilds in a manner that will be more resilient to future events. These technical and administrative hurdles in the aftermath of a disaster create a challenging atmosphere to make sound, scientifically-informed decisions leading to resilient recovery. In September 2013, a 1,000-year rain event that resulted in flooding throughout the Front Range of Colorado, significantly impacting Boulder County. While the event is long past, disaster recovery efforts still continue in parts of Boulder County. Boulder County officials formed a county collaborative that adapted the NIST Community Resilience Planning Guide for Buildings and Infrastructure Systems to facilitate a goals-based multi-criteria decision making process. Rather than use hazard-based information to guide infrastructure design, the county's decision process established time-to-recovery goals for infrastructure systems that were used as criteria for project design. This presentation explores the decision-making process employed by Boulder County to specify design standards for resilient rebuilding of infrastructure systems and examine how this infrastructure planning model could be extrapolated to other situations where there is uncertainty regarding future infrastructure design standards.

A Bridge to Recovery

Directory of Open Access Journals (Sweden)

Rebecca M. Loya

2015-02-01

Full Text Available Sexual violence can trigger adverse economic events for survivors, including increased expenses and decreased earnings. Using interview data, this exploratory study examines how access to assets (liquid assets, familial financial assistance, and homeownership affects survivors’ economic well-being during recovery. In keeping with asset theory, liquid assets and familial assistance can help offset post-assault expenses and facilitate access to services. Homeownership, meanwhile, appears to have mixed effects on survivors’ economic well-being. These findings suggest that the economic costs of sexual violence can burden survivors with fewer financial resources more heavily than those who own significant assets. As such, these findings shift the focus toward a dimension of inequality in recovery from sexual violence that is often overlooked in research and that may have implications for public policy and victim services.

Efficiency of Mechanisms for Ensuring Financial Stability in Developed Countries

Directory of Open Access Journals (Sweden)

Mizjuk Bohdan M.

2016-08-01

Full Text Available The aim of the article is to identify relationships between the monetary policy and long-term financial stability. The main method of the study is retrospective analysis of macroeconomic and financial performance of the United States and other developed countries. It has been shown that neither Neo-Keynesian nor monetarist approaches are able to provide long-term financial stability under simultaneous low levels of volatility of GDP and inflation. In addition, the policy of inflation targeting in developed countries is not able to eliminate the risk of significant macro-economic recessions. The article states that the cause of the recessions is a systemic risk growth due to concentration of financial resources in the banking sector and in the hands of owners of non-financial corporations. This concentration has two effects: 1 growth of moral hazard at crediting; 2 decrease in the effective demand on the part of households. Redistribution of financial resources among different macro-economic groups of agents does not happen in a short period of time and is a result of the long-term monetary policy. Since the modern economic statistics has certain methodological problems with calculation of the Gini coefficient, such indicator as a share of wages in GDP is proposed in the article for studying the dynamics of uneven distribution of financial resources in the United States. The conducted retrospective analysis of the US monetary policy showed that an important system indicator of uniformity of financial resources distribution among macroeconomic agents falls out of sight of regulators. Distribution of macroeconomic risks depends on distribution of financial resources in the system, which determines its financial stability. The article justifies the need for developing the monetary policy methods that would simultaneously minimize the volatility of the GDP, inflation and maintain a uniform distribution of financial resources at an acceptable level.

Slightly uneven electric field trigatron employed in tens of microseconds charging time.

Science.gov (United States)

Lin, Jiajin; Yang, Jianhua; Zhang, Jiande; Zhang, Huibo; Yang, Xiao

2014-09-01

To solve the issue of operation instability for the trigatron switch in the application of tens of microseconds or even less charging time, a novel trigatron spark gap with slightly uneven electric field was presented. Compared with the conventional trigatron, the novel trigatron was constructed with an obvious field enhancement on the edge of the opposite electrode. The selection of the field enhancement was analyzed based on the theory introduced by Martin. A low voltage trigatron model was constructed and tested on the tens of microseconds charging time platform. The results show that the character of relative range was improved while the trigger character still held a high level. This slightly uneven electric field typed trigatron is willing to be employed in the Tesla transformer - pulse forming line system.

Battleground Energy Recovery Project

Energy Technology Data Exchange (ETDEWEB)

Bullock, Daniel [USDOE Gulf Coast Clean Energy Application Center, Woodlands, TX (United States)

2011-12-31

In October 2009, the project partners began a 36-month effort to develop an innovative, commercial-scale demonstration project incorporating state-of-the-art waste heat recovery technology at Clean Harbors, Inc., a large hazardous waste incinerator site located in Deer Park, Texas. With financial support provided by the U.S. Department of Energy, the Battleground Energy Recovery Project was launched to advance waste heat recovery solutions into the hazardous waste incineration market, an area that has seen little adoption of heat recovery in the United States. The goal of the project was to accelerate the use of energy-efficient, waste heat recovery technology as an alternative means to produce steam for industrial processes. The project had three main engineering and business objectives: Prove Feasibility of Waste Heat Recovery Technology at a Hazardous Waste Incinerator Complex; Provide Low-cost Steam to a Major Polypropylene Plant Using Waste Heat; and Create a Showcase Waste Heat Recovery Demonstration Project.

The Dutch "Crisis and Recovery Act": Economic recovery and legal ...

African Journals Online (AJOL)

In the Netherlands, the 2010 Crisis and Recovery Act aims at speeding up decisionmaking on a wide variety of activities, hoping that after the financial and economic crisis has passed, development projects can immediately be carried out without any delay caused by legal procedures in court or elsewhere. The Act meets ...

Walking on uneven terrain with a powered ankle prosthesis: A preliminary assessment.

Science.gov (United States)

Shultz, Amanda H; Lawson, Brian E; Goldfarb, Michael

2015-01-01

A successful walking gait with a powered prosthesis depends heavily on proper timing of power delivery, or push-off. This paper describes a control approach which provides improved walking on uneven terrain relative to previous work intended for use on even (level) terrain. This approach is motivated by an initial healthy subject study which demonstrated less variation in sagittal plane shank angle than sagittal plane ankle angle when walking on uneven terrain relative to even terrain. The latter therefore replaces the former as the control signal used to initiate push-off in the powered prosthesis described herein. The authors demonstrate improvement in consistency for several gait characteristics, relative to healthy, as well as controller characteristics with the new control approach, including a 50% improvement in the consistency of the percentage of stride at which push-off is initiated.

Leading a Recovery-oriented Social Enterprise.

Science.gov (United States)

Raeburn, Toby; Hungerford, Catherine; Sayers, Jan; Escott, Phil; Lopez, Violeta; Cleary, Michelle

2015-05-01

Recovery-oriented mental health services promote the principles of recovery, such as hope and optimism, and are characterized by a personalized approach to developing consumer self-determination. Nurse leaders are increasingly developing such services as social enterprises, but there is limited research on the leadership of these programs. Leading a recovery-oriented mental health nurse social enterprise requires visionary leadership, collaboration with consumers and local health providers, financial viability, and commitment to recovery-focused practice. This article describes the framework of an Australian mental health nursing social enterprise, including the service attributes and leadership lessons that have been learned from developing program sustainability.

Recovery and money management.

Science.gov (United States)

Rowe, Michael; Serowik, Kristin L; Ablondi, Karen; Wilber, Charles; Rosen, Marc I

2013-06-01

Social recovery and external money management are important approaches in contemporary mental health care, but little research has been done on the relationship between the two or on application of recovery principles to money management for people at risk of being assigned a representative payee or conservator. Out of 49 total qualitative interviews, 25 transcripts with persons receiving Social Security insurance or Social Security disability insurance who were at risk of being assigned a money manager were analyzed to assess the presence of recognized recovery themes. The recovery principles of self-direction and responsibility were strong themes in participant comments related to money management. Money management interventions should incorporate peoples' recovery-related motivations to acquire financial management skills as a means to direct and assume responsibility for one's finances. Staff involved in money management should receive training to support client's recovery-related goals. (PsycINFO Database Record (c) 2013 APA, all rights reserved).

Moving dynamic loads caused by bridge deck joint unevenness - a case study

CSIR Research Space (South Africa)

Steyn, WJV

2004-11-01

Full Text Available This paper focus on the general guidelines regarding maximum unevenness from bridge deck joints for typical South African heavy vehicles, in order to minimize the generation of moving variable loads. In a recent investigation it was found that areas...

Quantifying Trade-Offs Between Economic and Ecological Objectives in Uneven-Aged Mixed- Species Forests in the Southern United States

Science.gov (United States)

Joseph Buongiorno; Benedict Schulte; Kenneth E. Skog

2004-01-01

This paper summarizes research on the management of uneven-aged loblolly pine-hardwood stands in the southern United States. This research was composed of three elements: (1) modeling of biological growth of uneven-aged stands of mixed loblolly pine and hardwood trees, (2) optimization to discover sustainable regimes that would best meet economic and ecological...

Africa's 'Recovery': Economic Growth, Governance and Social Protest

African Journals Online (AJOL)

The reality behind the alleged recovery of Africa from the 2008/09 global financial meltdown, which has been well advertised by multilateral financial agencies, needs investigation, partly because the institutions' political agenda appears to be to further integrate the continent into a highly volatile world economy, as well as ...

The Uneven Legal Push for Europe

DEFF Research Database (Denmark)

Wind, Marlene; Martinsen, Dorte Sindbjerg; Rotger, Gabriel Pons

2009-01-01

National courts have been key players in the legal push for Europe, though notably to varying degrees. This paper examines the persisting variations in the referral rates of national courts and the underlying causal factors, aiming to better understand why some member states' courts have been more...... reluctant to join in the legal push for Europe. By using econometric methods, it challenges the modified neofunctionalist argument that the extent of intra-EC trade explains the referral practice of the individual member states. Majoritarian democracy is hypothesized as a causal factor in the low referral...... of majoritarian democracy on the number of referrals. The paper concludes that, owing to the uneven legal push for Europe, some member states and their citizens remain at arms' length from the legal integration process - and, in consequence, from the full impact of European integration....

Financial crisis and crisis management in Sweden: Lessons for today

OpenAIRE

Jonung, Lars

2009-01-01

This paper gives an account of the Swedish financial crisis covering the period 1985-2000, dealing with financial deregulation and the boom in the late 1980s, the bust and the financial crisis in the early 1990s, the recovery from the crisis and the bank resolution policy adopted during the crisis. The paper focuses on three issues: the causes and consequences of the financial crisis, the policy response concerning bank resolution, and the applicability of the Swedish model of bank crisis man...

Russia’s Financial Markets and Financial Institutions in 2013

OpenAIRE

Alexander Abramov

2014-01-01

This paper deals with a wide scope of issues, starting with the post-crisis recovery of Russia's financial market. The author analyzes the market for shares issued by Russian companies, investigates dependence on the global conjuncture of prices and inflow and outflow of foreign portfolio investment. He also studies currency exchange rate, looks at the competition on the domestic share market, and analyzes preliminary results of the merger of the RTS and MICEX. The article deals with the mark...

Russia’s Financial Markets and Financial Institutions in 2012

OpenAIRE

Alexander Abramov

2013-01-01

This paper deals with a wide scope of issues, starting with the post-crisis recovery of Russia's financial market. The author analyzes the market for shares issued by Russian companies, investigates dependence on the global conjuncture of prices and inflow and outflow of foreign portfolio investment. He also studies currency exchange rate, looks at the competition on the domestic share market, and analyzes preliminary results of the merger of the RTS and MICEX. The article deals with the mark...

A Survival Model for Shortleaf Pine Tress Growing in Uneven-Aged Stands

Science.gov (United States)

Thomas B. Lynch; Lawrence R. Gering; Michael M. Huebschmann; Paul A. Murphy

1999-01-01

A survival model for shortleaf pine (Pinus echinata Mill.) trees growing in uneven-aged stands was developed using data from permanently established plots maintained by an industrial forestry company in western Arkansas. Parameters were fitted to a logistic regression model with a Bernoulli dependent variable in which "0" represented...

Stranded cost recovery in electricity market reforms in the US

International Nuclear Information System (INIS)

Woo, C.K.; Lloyd, D.; Karimov, R.; Tishler, A.

2003-01-01

An important element of an electricity market reform is stranded cost recovery. This paper explains the cause of stranded costs, describes four recovery mechanisms, evaluates these mechanisms using the criteria of recovery certainty, economic efficiency and equity, reviews the financial performance of 12 utilities in the US in connection to stranded cost recovery, and shows why the mechanism used in California has contributed to the reform failure in that state. (Author)

Restoration of uneven illumination in light sheet microscopy images.

Science.gov (United States)

Uddin, Mohammad Shorif; Lee, Hwee Kuan; Preibisch, Stephan; Tomancak, Pavel

2011-08-01

Light microscopy images suffer from poor contrast due to light absorption and scattering by the media. The resulting decay in contrast varies exponentially across the image along the incident light path. Classical space invariant deconvolution approaches, while very effective in deblurring, are not designed for the restoration of uneven illumination in microscopy images. In this article, we present a modified radiative transfer theory approach to solve the contrast degradation problem of light sheet microscopy (LSM) images. We confirmed the effectiveness of our approach through simulation as well as real LSM images.

78 FR 54466 - Appraisal Subcommittee of the Federal Financial Institutions Examination Council; Notice of Meeting

Science.gov (United States)

2013-09-04

... FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL [Docket No. AS13-21] Appraisal Subcommittee of the Federal Financial Institutions Examination Council; Notice of Meeting Description: In accordance with Section 1104 (b) of Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act...

FACTORS THAT MAY DETERMINE THE RECOVERY RATE OF FINANCIAL RISK DAMAGES

OpenAIRE

Nicoleta Diana Rosioru

2015-01-01

The information about the performance of a company, especially about its profitability, are useful to the consideration of potential changes of the economic resources, which the company might further control and the forecast of the ability to generate treasury flows by the existent resources. Also, based on the performance, judgments are expressed, aiming the efficiency whereof the company may use new resources. The performance of company may be influenced by its financial risk. The financial...

Mega-fire Recovery in Dry Conifer Forests of the Interior West

Science.gov (United States)

Malone, S. L.; Fornwalt, P.; Chambers, M. E.; Battaglia, M.

2015-12-01

Wildfire is a complex landscape process with great uncertainty in whether trends in size and severity are shifting trajectories for ecosystem recovery that are outside of the historical range of variability. Considering that wildfire size and severity is likely to increase into the future with a drier climate, it is important that we understand wildfire effects and ecosystem recovery. To evaluate how ecosystems recover from wildfire we measured spatial patterns in regeneration and mapped tree refugia within mega-fire perimeters (Hayman, Jasper, Bobcat, and Grizzly Gulch) in ponderosa pine (Pinus ponderosa) dominated forest. On average, high severity fire effects accounted for > 15% of burned area and increased with fire size. Areas with high severity fire effects contained 1 - 15% tree refugia cover, compared to 37 - 70% observed in low severity areas . Large high severity patches with low coverage of tree refugia, were more frequent in larger fires and regeneration distances required to initiate forest recovery far exceeded 1.5 canopy height or 200 m, distances where the vast majority of regeneration is likely to arise. Using a recovery model driven by distance, we estimate recovery times between 300 to > 1000 years for these mega-fires. In Western dry conifer forests, large patches of stand replacing fire are likely to lead to uneven aged forest and very long recovery times.

Birds achieve high robustness in uneven terrain through active control of landing conditions.

Science.gov (United States)

Birn-Jeffery, Aleksandra V; Daley, Monica A

2012-06-15

We understand little about how animals adjust locomotor behaviour to negotiate uneven terrain. The mechanical demands and constraints of such behaviours likely differ from uniform terrain locomotion. Here we investigated how common pheasants negotiate visible obstacles with heights from 10 to 50% of leg length. Our goal was to determine the neuro-mechanical strategies used to achieve robust stability, and address whether strategies vary with obstacle height. We found that control of landing conditions was crucial for minimising fluctuations in stance leg loading and work in uneven terrain. Variation in touchdown leg angle (θ(TD)) was correlated with the orientation of ground force during stance, and the angle between the leg and body velocity vector at touchdown (β(TD)) was correlated with net limb work. Pheasants actively targeted obstacles to control body velocity and leg posture at touchdown to achieve nearly steady dynamics on the obstacle step. In the approach step to an obstacle, the birds produced net positive limb work to launch themselves upward. On the obstacle, body dynamics were similar to uniform terrain. Pheasants also increased swing leg retraction velocity during obstacle negotiation, which we suggest is an active strategy to minimise fluctuations in peak force and leg posture in uneven terrain. Thus, pheasants appear to achieve robustly stable locomotion through a combination of path planning using visual feedback and active adjustment of leg swing dynamics to control landing conditions. We suggest that strategies for robust stability are context specific, depending on the quality of sensory feedback available, especially visual input.

78 FR 54465 - Appraisal Subcommittee of the Federal Financial Institutions Examination Council; Notice of Meeting

Science.gov (United States)

2013-09-04

... FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL [Docket No. AS13-20] Appraisal Subcommittee of the Federal Financial Institutions Examination Council; Notice of Meeting Description: In accordance with Section 1104(b) of Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of...

Skipping on uneven ground: trailing leg adjustments simplify control and enhance robustness.

Science.gov (United States)

Müller, Roy; Andrada, Emanuel

2018-01-01

It is known that humans intentionally choose skipping in special situations, e.g. when descending stairs or when moving in environments with lower gravity than on Earth. Although those situations involve uneven locomotion, the dynamics of human skipping on uneven ground have not yet been addressed. To find the reasons that may motivate this gait, we combined experimental data on humans with numerical simulations on a bipedal spring-loaded inverted pendulum model (BSLIP). To drive the model, the following parameters were estimated from nine subjects skipping across a single drop in ground level: leg lengths at touchdown, leg stiffness of both legs, aperture angle between legs, trailing leg angle at touchdown (leg landing first after flight phase), and trailing leg retraction speed. We found that leg adjustments in humans occur mostly in the trailing leg (low to moderate leg retraction during swing phase, reduced trailing leg stiffness, and flatter trailing leg angle at lowered touchdown). When transferring these leg adjustments to the BSLIP model, the capacity of the model to cope with sudden-drop perturbations increased.

Financial assurance for decontamination and decommissioning: a Texas perspective

International Nuclear Information System (INIS)

Rao, C.D.; Etter, S.D.; Dziuk, T.W.

1986-01-01

The Texas Department of Health (TDH) has the regulatory responsibility to ensure that funds are available for decontamination, decommissioning, and reclamation of uranium recovery facilities in Texas. Uranium recovery licensees are required to post financial security with the Agency for that purpose. Texas uranium facilities include (1) conventional surface mining and milling plants, including tailings ponds, and (2) in situ solution mining plants, each with somewhat different cost elements for decontamination, decommissioning, reclamation, and closure. Cost estimates for decontamination, decommissioning, and reclamation, along with a facility closure plan, are initially submitted to the Agency by the licensees. These are verified and compared with detailed independent cost estimates prepared by Agency staff. Significant differences between the two estimates are examined and resolved by negotiation and/or recalculation to the satisfaction of the state. The Texas philosophy for maintaining financial security permits flexibility in the closure plan without jeopardizing or compromising the ultimate long-term objectives of closure. Review of closure plans incorporates new technological developments In contrast, financial security is established expeditiously by applying the best available cost data to necessarily conservative estimates of the work involved. Financial security cost estimates are subject to annual review and adjustment

Reconciling Biodiversity Conservation and Timber Production in Mixed Uneven-Aged Mountain Forests: Identification of Ecological Intensification Pathways.

Science.gov (United States)

Lafond, Valentine; Cordonnier, Thomas; Courbaud, Benoît

2015-11-01

Mixed uneven-aged forests are considered favorable to the provision of multiple ecosystem services and to the conciliation of timber production and biodiversity conservation. However, some forest managers now plan to increase the intensity of thinning and harvesting operations in these forests. Retention measures or gap creation are considered to compensate potential negative impacts on biodiversity. Our objectives were to assess the effect of these management practices on timber production and biodiversity conservation and identify potential compensating effects between these practices, using the concept of ecological intensification as a framework. We performed a simulation study coupling Samsara2, a simulation model designed for spruce-fir uneven-aged mountain forests, an uneven-aged silviculture algorithm, and biodiversity models. We analyzed the effect of parameters related to uneven-aged management practices on timber production, biodiversity, and sustainability indicators. Our study confirmed that the indicators responded differently to management practices, leading to trade-offs situations. Increasing management intensity had negative impacts on several biodiversity indicators, which could be partly compensated by the positive effect of retention measures targeting large trees, non-dominant species, and deadwood. The impact of gap creation was more mitigated, with a positive effect on the diversity of tree sizes and deadwood but a negative impact on the spruce-fir mixing balance and on the diversity of the understory layer. Through the analysis of compensating effects, we finally revealed the existence of possible ecological intensification pathways, i.e., the possibility to increase management intensity while maintaining biodiversity through the promotion of nature-based management principles (gap creation and retention measures).

Concurrent validity of accelerations measured using a tri-axial inertial measurement unit while walking on firm, compliant and uneven surfaces.

Science.gov (United States)

Cole, Michael H; van den Hoorn, Wolbert; Kavanagh, Justin K; Morrison, Steven; Hodges, Paul W; Smeathers, James E; Kerr, Graham K

2014-01-01

Although accelerometers are extensively used for assessing gait, limited research has evaluated the concurrent validity of these devices on less predictable walking surfaces or the comparability of different methods used for gravitational acceleration compensation. This study evaluated the concurrent validity of trunk accelerations derived from a tri-axial inertial measurement unit while walking on firm, compliant and uneven surfaces and contrasted two methods used to remove gravitational accelerations; i) subtraction of the best linear fit from the data (detrending); and ii) use of orientation information (quaternions) from the inertial measurement unit. Twelve older and twelve younger adults walked at their preferred speed along firm, compliant and uneven walkways. Accelerations were evaluated for the thoracic spine (T12) using a tri-axial inertial measurement unit and an eleven-camera Vicon system. The findings demonstrated excellent agreement between accelerations derived from the inertial measurement unit and motion analysis system, including while walking on uneven surfaces that better approximate a real-world setting (all differences firm surfaces (delta range: -0.05 to 0.06 vs. 0.00 to 0.14 m.s(-2)), whereas the quaternion method performed better when walking on compliant and uneven walkways (delta range: -0.16 to -0.02 vs. -0.07 to 0.07 m.s(-2)). The technique used to compensate for gravitational accelerations requires consideration in future research, particularly when walking on compliant and uneven surfaces. These findings demonstrate trunk accelerations can be accurately measured using a wireless inertial measurement unit and are appropriate for research that evaluates healthy populations in complex environments.

Poor recovery of households from out-of-pocket payment for assisted reproductive technology.

Science.gov (United States)

Dyer, Silke J; Vinoos, Latiefa; Ataguba, John E

2017-12-01

How do households recover financially from direct out-of-pocket payment for government subsidized ART? After a mean of 3.8 years, there was poor recovery from initiated financial coping strategies with the poorest households being disproportionatley affected. Out-of-pocket payment for health services can create financial burdens for households and inequities in access to care. A previous study conducted at a public-academic institution in South Africa documented that patient co-payment for one cycle of ART resulted in catastrophic expenditure for one in five households, and more frequently among the poorest, requiring diverse financial coping strategies to offset costs. An observational follow-up study was conducted ~4 years later to assess financial recovery among the 135 couples who had participated in this previous study. Data were collected over 12 months from 73 informants. The study was conducted at a level three referral hospital in the public-academic health sector of South Africa. At this institution ART is subsidized but requires patient co-payments. A purpose-built questionnaire capturing socio-economic information and recovery from financial coping strategies which had been activated was administered to all informants. Financial recovery was defined as the resolution of strategies initiated for the specific purpose of covering the original ART cycle. Results were analysed by strategy and household with the latter including analysis by tertiles based on socio-economic status at the time of the original expenditure. In addition to descriptive statistics, the Pearson Chi squared test was used to determine differences between socioeconomic tertiles and associations between recovery and other variables. The participation rate in this follow-up study was 54.1% with equal representation from the three socio-economic tertiles. The average duration of follow-up was 46.1 months (±9.78 SD) and respondents' mean age was 42 years (range 31-52). The recovery rate

Comparison of Different Height–Diameter Modelling Techniques for Prediction of Site Productivity in Natural Uneven-Aged Pure Stands

Directory of Open Access Journals (Sweden)

Guangshuang Duan

2018-01-01

Full Text Available Reliable estimates of forest site productivity are a central element of forest management. The model of height-diameter relationship of dominant trees using algebraic difference approach (ADA is a commonly used method to measure site productivity of natural uneven-aged stands. However, the existing models of this method do not recognize site type or sample plot specific variability in height curves; thus, it cannot be effectively used to estimate site type or sample plot-related site productivity for natural uneven-aged stands. Two primary subject-specific approaches, ADA with dummy variable (DV (ADA + DV and ADA with combination of dummy variable and nonlinear mixed-effects modelling (CM (ADA + CM, were proposed for height–diameter modelling. Height–diameter models developed with ADA, ADA + DV and ADA + CM were compared using data from 4161 observations on 349 permanent sample plots of four major natural uneven-aged pure stands (Spruce, Korean Larch, Mongolian Oak, and White Birch in northeastern China. It was found that models developed with ADA + CM provided the best performance, followed by the models with ADA + DV, and the models developed with ADA performed the worst. Random effects at the plot level were substantial, and their inclusion greatly improved the model’s accuracy. More importantly, the models developed with ADA + CM provide an effective method for quantifying site type- and sample plot-specific forest site productivity for uneven-aged pure stands.

Development of stable walking robot for accident condition monitoring on uneven floors in a nuclear power plant

Energy Technology Data Exchange (ETDEWEB)

Kim, Jong Seog; Jang, You Hyun [Central Research Institute of Korea Hydro and Nuclear Power Company, Daejeon (Korea, Republic of)

2017-04-15

Even though the potential for an accident in nuclear power plants is very low, multiple emergency plans are necessary because the impact of such an accident to the public is enormous. One of these emergency plans involves a robotic system for investigating accidents under conditions of high radiation and contaminated air. To develop a robot suitable for operation in a nuclear power plant, we focused on eliminating the three major obstacles that challenge robots in such conditions: the disconnection of radio communication, falling on uneven floors, and loss of localization. To solve the radio problem, a Wi-Fi extender was used in radio shadow areas. To reinforce the walking, we developed two- and four-leg convertible walking, a floor adaptive foot, a roly-poly defensive falling design, and automatic standing recovery after falling methods were developed. To allow the robot to determine its location in the containment building, a bar code landmark reading method was chosen. When a severe accident occurs, this robot will be useful for accident condition monitoring. We also anticipate the robot can serve as a workman aid in a high radiation area during normal operations.

PROACT user's guide: how to use the pallet recovery opportunity analysis computer tool

Science.gov (United States)

E. Bradley Hager; A.L. Hammett; Philip A. Araman

2003-01-01

Pallet recovery projects are environmentally responsible and offer promising business opportunities. The Pallet Recovery Opportunity Analysis Computer Tool (PROACT) assesses the operational and financial feasibility of potential pallet recovery projects. The use of project specific information supplied by the user increases the accuracy and the validity of the...

Sex Differences in Financial Barriers and the Relationship to Recovery After Acute Myocardial Infarction

OpenAIRE

Beckman, Adam L.; Bucholz, Emily M.; Zhang, Weiwei; Xu, Xiao; Dreyer, Rachel P.; Strait, Kelly M.; Spertus, John A.; Krumholz, Harlan M.; Spatz, Erica S.

2016-01-01

Background Financial barriers to health care are associated with worse outcomes following acute myocardial infarction (AMI). Yet, it is unknown whether the prevalence of financial barriers and their relationship with post?AMI outcomes vary by sex among young adults. Methods and Results We assessed sex differences in patient?reported financial barriers among adults aged

Financial Crises and Automotive Industry Development in Southeast Asia

DEFF Research Database (Denmark)

Doner, Richard F.; Wad, Peter

2014-01-01

The automotive industries of Southeast Asia have grown significantly but unevenly. Thailand has outperformed its neighbours in Malaysia, Indonesia and the Philippines with regard to production and, most notably, export volumes. But the Thai auto industry has not exhibited the level of local...... (indigenous) technology capacity and input growth seen in South Korea, Taiwan and, increasingly, in China. The 1997–98 and 2008 financial and economic crises generally reinforced pre-existing national automotive strategies, but to different degrees: They strongly accelerated an earlier Thai move to exports...... whose very success weakened pressures for upgrading; encouraged more moderate automotive liberalisation in Indonesia and, to a lesser extent, in the Philippines; but promoted only minimal changes to Malaysia’s relatively protectionist national car strategy. The fact that the crises served more...

Trust, confidence, and the 2008 global financial crisis.

Science.gov (United States)

Earle, Timothy C

2009-06-01

The 2008 global financial crisis has been compared to a "once-in-a-century credit tsunami," a disaster in which the loss of trust and confidence played key precipitating roles and the recovery from which will require the restoration of these crucial factors. Drawing on the analogy between the financial crisis and environmental and technological hazards, recent research on the role of trust and confidence in the latter is used to provide a perspective on the former. Whereas "trust" and "confidence" are used interchangeably and without explicit definition in most discussions of the financial crisis, this perspective uses the TCC model of cooperation to clearly distinguish between the two and to demonstrate how this distinction can lead to an improved understanding of the crisis. The roles of trust and confidence-both in precipitation and in possible recovery-are discussed for each of the three major sets of actors in the crisis, the regulators, the banks, and the public. The roles of trust and confidence in the larger context of risk management are also examined; trust being associated with political approaches, confidence with technical. Finally, the various stances that government can take with regard to trust-such as supportive or skeptical-are considered. Overall, it is argued that a clear understanding of trust and confidence and a close examination of the specific, concrete circumstances of a crisis-revealing when either trust or confidence is appropriate-can lead to useful insights for both recovery and prevention of future occurrences.

Financial considerations in living organ donation.

Science.gov (United States)

Jacobs, Cheryl; Thomas, Charlie

2003-06-01

The shortage of cadaveric organs and increased success of living donor transplantation support the use of living organ donors. Clinical social workers have the opportunity to explore a variety of donor-specific issues when performing psychosocial evaluations of living donors, including motivation, psychological stability, and personal and family consequences of donation, as well as the direct and indirect financial consequences faced by living donors. Although most donor-related medical costs are covered, other associated expenses are not reimbursable and may put donors at risk for financial hardship. Out-of-pocket expenses also serve as a disincentive to donate for some volunteers. During the evaluation process, healthcare professionals should openly discuss how surgery, recovery, and any potential complications might impact prospective donors' financial situation. Donors can then decide whether they are able to realistically handle the costs of donation. We present the financial dilemmas experienced by many living donors and highlight efforts that have been made to deal with them.

Unevenness on aerosol inhalation lung images and lung function

International Nuclear Information System (INIS)

Teshima, Takeo; Isawa, Toyoharu; Hirano, Tomio; Ebina, Akio; Shiraishi, Koichiro; Konno, Kiyoshi

1985-01-01

The unevenness or inhomogeneity of aerosol deposition patterns on radioaerosol inhalation lung images has been interpreted rather qualitatively in the clinical practice. We have reported our approach to quantitatively analyze the radioactive count distribution on radioaerosol inhalation lung images in relation to the actual lung function data. We have defined multiple indexes to express the shape and the unevenness of the count distribution of the lung images. To reduce as much as possible the number of indexes to be used in the regression functions, the method of selection of variables was introduced to the multiple regression analysis. Because some variables showed greater coefficients of simple correlation, while others did not, multicollinearity of variables had to be taken into consideration. For this reason, we chose a principal components regression analysis. The multiple regression function for each item of pulmonary function data thus established from analysis of 67 subjects appeared usable as a predictor of the actual lung function: for example, % VC (vital capacity) could be estimated by using four indexes out of the multiple ones with a coefficient of multiple correlation (R) of 0.753, and FEVsub(1.0) % (forced expiratory volume in one second divided by forced expiratory volume), by 7 indexes with R = 0.921. Pulmonary function data regarding lung volumes and lung mechanics were estimated more accurately with greater R's than those for lung diffusion, but even in the latter the prediction was still statistically significant at p less than 0.01. We believe the multiple regression functions thus obtained are useful for estimating not only the overall but also the regional function of the lungs. (author)

Interaction of random wave-current over uneven and porous bottoms

International Nuclear Information System (INIS)

Suo Yaohong; Zhang Zhonghua; Zhang Jiafan; Suo Xiaohong

2009-01-01

Starting from linear wave theory and applying Green's second identity and considering wave-current interaction for porous bottoms and variable water depth, the comprehensive mild-slope equation model theory of wave-current interaction is developed, then paying attention to the effect of random waves, by use of Kubo et al.'s method, a model theory of the interaction between random waves and current over uneven and porous bottoms is established. Finally the characteristics of the random waves are discussed numerically from both the geometric-optics approximation and the target spectrum.

Urban Decline or Disinvestment: Uneven Development, Redlining and the Role of the Insurance Industry.

Science.gov (United States)

Squires, Gregory D.; And Others

1979-01-01

Redlining of many urban communities and discrimination against the poor and minorities are common in the insurance industry, and these practices contribute to the deterioration of those communities. The utilization of a structural/disinvestment approach by social scientists should provide additional information about the uneven development of…

Financial Integration in ASEAN-5

Directory of Open Access Journals (Sweden)

Laura Grace Gabriella

2016-04-01

Full Text Available The financial integration in South East Asia has varied over time. This paper focuses on three periods: before, during, and after the global financial crisis in 2008. This paper finds that ASEAN-5 countries have indeed taken a step towards financial integration. While we do not observe any (cointegrating long-run relationships between the ASEAN-5 countries, we find that there has been a significant increase in the volatility spillovers between them. This is particularly true in the recovery period following the global financial crisis.    Abstrak Integrasi keuangan di Asia Tenggara telah mengalami perubahan dari waktu ke waktu. Penelitian ini berfokus pada tiga periode waktu, yaitu pada sebelum, saat, dan setelah Krisis Keuangan Global tahun 2008. Hasil penelitian ini menemukan bahwa negara ASEAN-5 memiliki kecenderungan kearah integrasi keuangan. Walaupun kami belum melihat adanya hubungan jangka panjang dari kelima negara tersebut, namun kami menemukan adanya peningkatan signifikan dari volatility spillover diantara mereka. Hal ini khususnya benar terjadi sepanjang periode pemulihan dari Krisis Keuangan Global. Kata kunci: Integrasi Keuangan; Krisis Keuangan Global; ASEAN; GARCH JEL classifications: F21; F33

MODELLING OF SCENARIOS OF THE CRISIS PHENOMENA TRANSFER AMONG FINANCIAL MARKETS

Directory of Open Access Journals (Sweden)

Inna Strelchenko

2017-11-01

Full Text Available The phenomenon of crisis transference among financial markets in different countries is especially evident during the global financial crisis of 2007-2009. Abnormal imbalances emerged in the market of secondary financial instruments in the United States in the second half of 2006 and quickly spread to the financial markets of most countries of the world. However, the rate of fall of the main macroeconomic indicators, the duration of the latent period (the time between the date of the beginning of the financial crisis in the source country and date of the recorded fall in GDP of the country that is subjected to “contagion” (Strelchenko, 2016, and recovery period are substantially different. To generate an effective economic policy actually, there is a task of determining the possible scenarios of transferring crisis. The research subject is a process of transfer of the crisis phenomena among the financial markets of countries with different levels of economic development. Methodology. The paper presents the results of a study on the differentiation of the financial markets reactions to the crisis transfer. To build the corresponding classification model, self-organization Kohonen neural networks are used. The purpose of this work is to build a neural network model for clustering economies according to the response to external financial shocks. This model allows predicting the scenarios of transferring crisis among financial markets. Conclusion. As a result of the study, there is built a neural network with the architecture of the Kohonen map. The neural network has one hidden layer consisting of six neurons and has a hexagonal structure. Six clusters describe six possible scenarios of the economy dynamics under the impact of the transfer of crises. Cluster number one and two unite countries characterized by a short period of economic recovery and return of the main macroeconomic indicators to the precrisis levels. A longer recovery period and

Long-term follow-up of whiplash injuries reported to insurance companies: a cohort study on patient-reported outcomes and impact of financial compensation.

Science.gov (United States)

Rydman, Eric; Ponzer, Sari; Brisson, Rosa; Ottosson, Carin; Pettersson-Järnbert, Hans

2018-02-10

The long-term outcome of Whiplash-associated disorder (WADs) has been reported to be poor in populations from medical settings. However, no trials have investigated the long-term prognosis of patients from medico-legal environment. For this group, the "compensation hypothesis" suggests financial compensation being associated with worsened outcome. The aims of this study were to describe long-term (2-4 years) non-recovery rates in participants with WAD recruited from insurance companies and to investigate the association between self-reported non-recovery and financial compensation. 144 participants, reporting neck pain after a motor vehicle accident, were recruited from two major insurance companies in Sweden. Self-reported recovery was measured at 6 months and 2-4 years. Those who received financial compensation from an insurance company were compared with those who received no compensation. The overall non-recovery rate after 2-4 years was 55.9% (66/118). In the non-compensated group, the non-recovery rate was 51.0% (25/49) and in the compensated group 73% (27/37) (p = 0.039). Adjusted OR was 4.33 (1.37-13.66). High level of pain at baseline was a strong predictor of non-recovery [OR 46 (4.7-446.0)]. However, no association was found between pain level at baseline and financial compensation. The non-recovery rate among patients making insurance claims is high, especially among those receiving financial compensation even if causal relationship cannot be determined based on this study. However, lack of association between baseline level of pain and compensation supports the compensation hypothesis.

Ecological Unequal Exchange: International Trade and Uneven Utilization of Environmental Space in the World System

Science.gov (United States)

Rice, James

2007-01-01

We evaluate the argument that international trade influences disproportionate cross-national utilization of global renewable natural resources. Such uneven dynamics are relevant to the consideration of inequitable appropriation of environmental space in particular and processes of ecological unequal exchange more generally. Using OLS regression…

Uneven-Layered Coding Metamaterial Tile for Ultra-wideband RCS Reduction and Diffuse Scattering.

Science.gov (United States)

Su, Jianxun; He, Huan; Li, Zengrui; Yang, Yaoqing Lamar; Yin, Hongcheng; Wang, Junhong

2018-05-25

In this paper, a novel uneven-layered coding metamaterial tile is proposed for ultra-wideband radar cross section (RCS) reduction and diffuse scattering. The metamaterial tile is composed of two kinds of square ring unit cells with different layer thickness. The reflection phase difference of 180° (±37°) between two unit cells covers an ultra-wide frequency range. Due to the phase cancellation between two unit cells, the metamaterial tile has the scattering pattern of four strong lobes deviating from normal direction. The metamaterial tile and its 90-degree rotation can be encoded as the '0' and '1' elements to cover an object, and diffuse scattering pattern can be realized by optimizing phase distribution, leading to reductions of the monostatic and bi-static RCSs simultaneously. The metamaterial tile can achieve -10 dB RCS reduction from 6.2 GHz to 25.7 GHz with the ratio bandwidth of 4.15:1 at normal incidence. The measured and simulated results are in good agreement and validate the proposed uneven-layered coding metamaterial tile can greatly expanding the bandwidth for RCS reduction and diffuse scattering.

Financial appraisal of wet mesophilic AD technology as a renewable energy and waste management technology.

Science.gov (United States)

Dolan, T; Cook, M B; Angus, A J

2011-06-01

Anaerobic digestion (AD) has the potential to support diversion of organic waste from landfill and increase renewable energy production. However, diffusion of this technology has been uneven, with countries such as Germany and Sweden taking the lead, but limited diffusion in other countries such as the UK. In this context, this study explores the financial viability of AD in the UK to offer reasons why it has not been more widely used. This paper presents a model that calculates the Internal Rate of Return (IRR) on a twenty year investment in a 30,000 tonnes per annum wet mesophilic AD plant in the UK for the treatment of source separated organic waste, which is judged to be a suitable technology for the UK climate. The model evaluates the financial significance of the different alternative energy outputs from this AD plant and the resulting economic subsidies paid for renewable energy. Results show that renewable electricity and renewable heat sales supported by renewable electricity and renewable heat tariffs generates the greatest IRR (31.26%). All other uses of biogas generate an IRR in excess of 15%, and are judged to be a financially viable investment. Sensitivity analysis highlights the financial significance of: economic incentive payments and a waste management gate fee; and demonstrates that the fate of the digestate by-product is a source of financial uncertainty for AD investors. Copyright © 2011 Elsevier B.V. All rights reserved.

Age structure of a southern pine stand following 72 years of uneven-aged silviculture

Science.gov (United States)

Don C. Bragg

2012-01-01

Work on uneven-aged silviculture in southern pine stands on the Crossett Experimental Forest (CEF) began in the 1930s, when a number of 16.2-ha compartments were placed into a series of demonstration projects and studies (Reynolds 1980). Two of these compartments, the Good and Poor Farm Forestry Forties, have been maintained continuously in this silvicultural regime...

Financial appraisal of wet mesophilic AD technology as a renewable energy and waste management technology

International Nuclear Information System (INIS)

Dolan, T.; Cook, M.B.; Angus, A.J.

2011-01-01

Anaerobic digestion (AD) has the potential to support diversion of organic waste from landfill and increase renewable energy production. However, diffusion of this technology has been uneven, with countries such as Germany and Sweden taking the lead, but limited diffusion in other countries such as the UK. In this context, this study explores the financial viability of AD in the UK to offer reasons why it has not been more widely used. This paper presents a model that calculates the Internal Rate of Return (IRR) on a twenty year investment in a 30,000 tonnes per annum wet mesophilic AD plant in the UK for the treatment of source separated organic waste, which is judged to be a suitable technology for the UK climate. The model evaluates the financial significance of the different alternative energy outputs from this AD plant and the resulting economic subsidies paid for renewable energy. Results show that renewable electricity and renewable heat sales supported by renewable electricity and renewable heat tariffs generates the greatest IRR (31.26%). All other uses of biogas generate an IRR in excess of 15%, and are judged to be a financially viable investment. Sensitivity analysis highlights the financial significance of: economic incentive payments and a waste management gate fee; and demonstrates that the fate of the digestate by-product is a source of financial uncertainty for AD investors. - Research highlights: → Diffusion of AD technology is less rapid in the UK than other EU countries. → UK AD is financially viable if the energy output is supported by government subsidy. → Sensitivity analysis highlights the financial need for a waste management gate fee. → Digestate by-product creates a significant financial uncertainty for AD investors.

Financial appraisal of wet mesophilic AD technology as a renewable energy and waste management technology

Energy Technology Data Exchange (ETDEWEB)

Dolan, T. [School of Applied Sciences, Cranfield University, Cranfield, Bedfordshire, MK43 0AL (United Kingdom); Cook, M.B. [Design Group, Department of Design, Development, Environment and Materials, Open University, Walton Hall, Milton Keynes, Bucks (United Kingdom); Angus, A.J., E-mail: a.angus@cranfield.ac.uk [School of Applied Sciences, Cranfield University, Cranfield, Bedfordshire, MK43 0AL (United Kingdom)

2011-06-01

Anaerobic digestion (AD) has the potential to support diversion of organic waste from landfill and increase renewable energy production. However, diffusion of this technology has been uneven, with countries such as Germany and Sweden taking the lead, but limited diffusion in other countries such as the UK. In this context, this study explores the financial viability of AD in the UK to offer reasons why it has not been more widely used. This paper presents a model that calculates the Internal Rate of Return (IRR) on a twenty year investment in a 30,000 tonnes per annum wet mesophilic AD plant in the UK for the treatment of source separated organic waste, which is judged to be a suitable technology for the UK climate. The model evaluates the financial significance of the different alternative energy outputs from this AD plant and the resulting economic subsidies paid for renewable energy. Results show that renewable electricity and renewable heat sales supported by renewable electricity and renewable heat tariffs generates the greatest IRR (31.26%). All other uses of biogas generate an IRR in excess of 15%, and are judged to be a financially viable investment. Sensitivity analysis highlights the financial significance of: economic incentive payments and a waste management gate fee; and demonstrates that the fate of the digestate by-product is a source of financial uncertainty for AD investors. - Research highlights: {yields} Diffusion of AD technology is less rapid in the UK than other EU countries. {yields} UK AD is financially viable if the energy output is supported by government subsidy. {yields} Sensitivity analysis highlights the financial need for a waste management gate fee. {yields} Digestate by-product creates a significant financial uncertainty for AD investors.

Quantum partial search for uneven distribution of multiple target items

Science.gov (United States)

Zhang, Kun; Korepin, Vladimir

2018-06-01

Quantum partial search algorithm is an approximate search. It aims to find a target block (which has the target items). It runs a little faster than full Grover search. In this paper, we consider quantum partial search algorithm for multiple target items unevenly distributed in a database (target blocks have different number of target items). The algorithm we describe can locate one of the target blocks. Efficiency of the algorithm is measured by number of queries to the oracle. We optimize the algorithm in order to improve efficiency. By perturbation method, we find that the algorithm runs the fastest when target items are evenly distributed in database.

Methodological approaches to assessing of country’s financial capacity

Directory of Open Access Journals (Sweden)

A.Yu. Polchanov

2017-12-01

Full Text Available This research is devoted to the theoretical basis of country’s financial capacity assessment, its specificities and algorithm. The aim of the investigation is the generalization of methodological approaches to evaluating country’s financial capacity. The author determines that the assessment involves preparatory, analytical, and final stages. The special attention is paid to the information based on the analysis, demands on it, impact of changes in methodology, dynamics of macroeconomic indicators. The establishment of the united analytical center for assessment of financial capacity of the state for post-conflict recovery is proposed. The results of the critical review of the publications in this field have helped to improve the classification of country’s financial capacity assessment methods by providing some new attributes such as the focus of the evaluation and type of intelligence. The problem of using unlicensed software to assess the financial capacity of the state and the associated risk have not been left without attention.

Sugar maple height-diameter and age-diameter relationships in an uneven-aged northern hardwood stand

Science.gov (United States)

Laura S. Kenefic; R.D. Nyland

1999-01-01

Sugar maple (Acer saccharum Marsh.) height-diameter and age-diameter relationships are explored in a balanced uneven-aged northern hardwood stand in central New York. Results show that although both height and age vary considerably with diameter, these relationships can be described by statistically valid equations. The age-diameter relationship...

A novel segmentation method for uneven lighting image with noise injection based on non-local spatial information and intuitionistic fuzzy entropy

Science.gov (United States)

Yu, Haiyan; Fan, Jiulun

2017-12-01

Local thresholding methods for uneven lighting image segmentation always have the limitations that they are very sensitive to noise injection and that the performance relies largely upon the choice of the initial window size. This paper proposes a novel algorithm for segmenting uneven lighting images with strong noise injection based on non-local spatial information and intuitionistic fuzzy theory. We regard an image as a gray wave in three-dimensional space, which is composed of many peaks and troughs, and these peaks and troughs can divide the image into many local sub-regions in different directions. Our algorithm computes the relative characteristic of each pixel located in the corresponding sub-region based on fuzzy membership function and uses it to replace its absolute characteristic (its gray level) to reduce the influence of uneven light on image segmentation. At the same time, the non-local adaptive spatial constraints of pixels are introduced to avoid noise interference with the search of local sub-regions and the computation of local characteristics. Moreover, edge information is also taken into account to avoid false peak and trough labeling. Finally, a global method based on intuitionistic fuzzy entropy is employed on the wave transformation image to obtain the segmented result. Experiments on several test images show that the proposed method has excellent capability of decreasing the influence of uneven illumination on images and noise injection and behaves more robustly than several classical global and local thresholding methods.

The negative effect of financial constraints on planning prevention activities: some evidence from the Italian experience.

Science.gov (United States)

Rosso, Annalisa; De Vito, Corrado; Marzuillo, Carolina; Massimi, Azzurra; D'Andrea, Elvira; Villari, Paolo

2015-12-01

This study was aimed to assess the association between regional financial deficits and Recovery Plans and the quality of the 702 projects developed by the Italian Regions within the National Prevention Plan 2010-13. Multivariate analyses showed significant associations between Recovery Plans and low quality of projects, possibly due to weak regional public health capacities. Regions with Recovery Plans are likely to focus mainly on short-term issues with a high impact on health care costs, leaving few resources available for prevention. A different approach to financial deficit focused on long-term strategies, including those for health promotion and disease prevention, is needed. © The Author 2015. Published by Oxford University Press on behalf of the European Public Health Association. All rights reserved.

Effects of uneven-aged and diameter-limit management on West Virginia tree and wood quality

Science.gov (United States)

Michael C. Wiemann; Thomas M. Schuler; John E. Baumgras

2004-01-01

Uneven-aged and diameter-limit management were compared with an unmanaged control on the Fernow Experimental Forest near Parsons, West Virginia, to determine how treatment affects the quality of red oak (Quercus rubra L.), sugar maple (Acer saccharum Marsh.), and yellow-poplar (Liriodendron tulipifera L.). Periodic harvests slightly increased stem lean, which often...

Demonstration of uneven distribution of intracranial pulsatility in hydrocephalus patients.

Science.gov (United States)

Eide, Per K

2008-11-01

Data from intracranial pressure (ICP) recordings in patients with hydrocephalus were reviewed to determine whether intracranial pulsatility within the cerebrospinal fluid (CSF) of cerebral ventricles (ICP(LV)) may differ from that within the brain parenchyma (ICP(PAR)), and whether pulsatility may differ between noncommunicating ventricles. The authors retrieved data from recordings previously obtained in 7 patients with hydrocephalus (noncommunicating in 4 and communicating in 3) and shunt failure who received both an external ventricular drainage (EVD) and an ICP sensor as part of surveillance during intensive care. Simultaneous ICP(LV) and ICP(PAR) signals were available in 6 cases, and simultaneous signals from the lateral and fourth ventricles (ICP(LV) and ICP4V, respectively) were recorded in 1 case. The recordings with both signals were parsed into 6-second time windows. Pulsatility was characterized by the wave amplitude and rise time coefficient, and differences in pulsatility between the ICP(LV) and ICP(PAR) signals (6 cases) or ICP(LV) and ICP4V signals (1 case) were determined. There was uneven distribution of intracranial pulsatility in all 7 patients, shown as significantly elevated pulsatility (that is, higher wave amplitudes and rise time coefficients) within the ventricles (ICP(LV)) than within brain parenchyma (ICP(PAR)) in 6 patients, and significantly higher pulsatility in the fourth (ICP4V) than in the lateral (ICP(LV)) ventricles in 1 patient. Differences > or = 1 mm Hg in ICP wave amplitude were found in 0.5-100% (median 9.4%) of observations in the 7 patients (total number of 6-second time windows, 68,242). The present observations demonstrate uneven distribution of intracranial pulsatility in patients with hydrocephalus, higher pulse pressure amplitudes within the ventricular CSF (ICP(LV)) than within the brain parenchyma (ICP(PAR)). This may be one mechanism behind ventricular enlargement in hydrocephalus.

Financial, vocational, and interpersonal impact of living liver donation.

Science.gov (United States)

Holtzman, Susan; Adcock, Lesley; Dubay, Derek A; Therapondos, George; Kashfi, Arash; Greenwood, Sarah; Renner, Eberhard L; Grant, David R; Levy, Gary A; Abbey, Susan E

2009-11-01

The ability to inform prospective donors of the psychosocial risks of living liver donation is currently limited by the scant empirical literature. The present study was designed to examine donor perceptions of the impact of donation on financial, vocational, and interpersonal life domains and identify demographic and clinical factors related to longer recovery times and greater life interference. A total of 143 donors completed a retrospective questionnaire that included a standardized measure of life interference [Illness Intrusiveness Rating Scale (IIRS)] and additional questions regarding the perceived impact of donation. Donor IIRS scores suggested that donors experience a relatively low level of life interference due to donation [1.60 +/- 0.72, with a possible range of 1 ("not very much" interference) to 7 ("very much" interference)]. However, approximately 1 in 5 donors reported that donating was a significant financial burden. Logistic regression analysis revealed that donors with a psychiatric diagnosis at or prior to donation took longer to return to their self-reported predonation level of functioning (odds ratio = 3.78, P = 0.016). Medical complications were unrelated to self-reported recovery time. Multiple regression analysis revealed 4 independent predictors of greater life interference: less time since donation (b = 0.11, P financial burden of donation.

31 CFR 210.12 - RDFI's rights of recovery.

Science.gov (United States)

2010-07-01

... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false RDFI's rights of recovery. 210.12 Section 210.12 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY FINANCIAL MANAGEMENT SERVICE FEDERAL GOVERNMENT PARTICIPATION IN THE...

Factors of the uneven regional development of wind energy projects (a case of the Czech Republic)

Czech Academy of Sciences Publication Activity Database

Frantál, Bohumil; Kunc, Josef

2010-01-01

Roč. 62, č. 3 (2010), s. 183-199 ISSN 0016-7193 R&D Projects: GA AV ČR(CZ) KJB700860801 Institutional research plan: CEZ:AV0Z30860518 Keywords : wind energy * diffusion of innovation * social acceptance * uneven development Subject RIV: DE - Earth Magnetism, Geodesy, Geography

Modeling Reef Fish Biomass, Recovery Potential, and Management Priorities in the Western Indian Ocean.

Science.gov (United States)

McClanahan, Timothy R; Maina, Joseph M; Graham, Nicholas A J; Jones, Kendall R

2016-01-01

Fish biomass is a primary driver of coral reef ecosystem services and has high sensitivity to human disturbances, particularly fishing. Estimates of fish biomass, their spatial distribution, and recovery potential are important for evaluating reef status and crucial for setting management targets. Here we modeled fish biomass estimates across all reefs of the western Indian Ocean using key variables that predicted the empirical data collected from 337 sites. These variables were used to create biomass and recovery time maps to prioritize spatially explicit conservation actions. The resultant fish biomass map showed high variability ranging from ~15 to 2900 kg/ha, primarily driven by human populations, distance to markets, and fisheries management restrictions. Lastly, we assembled data based on the age of fisheries closures and showed that biomass takes ~ 25 years to recover to typical equilibrium values of ~1200 kg/ha. The recovery times to biomass levels for sustainable fishing yields, maximum diversity, and ecosystem stability or conservation targets once fishing is suspended was modeled to estimate temporal costs of restrictions. The mean time to recovery for the whole region to the conservation target was 8.1(± 3SD) years, while recovery to sustainable fishing thresholds was between 0.5 and 4 years, but with high spatial variation. Recovery prioritization scenario models included one where local governance prioritized recovery of degraded reefs and two that prioritized minimizing recovery time, where countries either operated independently or collaborated. The regional collaboration scenario selected remote areas for conservation with uneven national responsibilities and spatial coverage, which could undermine collaboration. There is the potential to achieve sustainable fisheries within a decade by promoting these pathways according to their social-ecological suitability.

A Bayesian Approach to Excess Volatility, Short-term Underreaction and Long-term Overreaction during Financial Crises

NARCIS (Netherlands)

X. Guo (Xu); M.J. McAleer (Michael); W.-K. Wong (Wing-Keung); L. Zhu (Lixing)

2016-01-01

textabstractIn this paper, we introduce a new Bayesian approach to explain some market anomalies during financial crises and subsequent recovery. We assume that the earnings shock of an asset follows a random walk model with and without drift to incorporate the impact of financial crises. We further

1995-1996 annual report of the Petroleum Recovery Institute

International Nuclear Information System (INIS)

1996-01-01

Financial performance and technical achievements were highlighted in the Petroleum Recovery Institute's 1995-96 annual review, with a special review of PRI's involvement with microgravity science. A list of PRI research and technology contracts and research reports from 1995-1996 was also included

A Pseudo-Bayesian Model for Stock Returns In Financial Crises

Directory of Open Access Journals (Sweden)

Eric S. Fung

2011-12-01

Full Text Available Recently, there has been a considerable interest in the Bayesian approach for explaining investors' behaviorial biases by incorporating conservative and representative heuristics when making financial decisions, (see, for example, Barberis, Shleifer and Vishny (1998. To establish a quantitative link between some important market anomalies and investors' behaviorial biases, Lam, Liu, and Wong (2010 introduced a pseudo-Bayesian approach for developing properties of stock returns, where weights induced by investors' conservative and representative heuristics are assigned to observations of the earning shocks and stock prices. In response to the recent global financial crisis, we introduce a new pseudo-Bayesian model to incorporate the impact of a financial crisis. Properties of stock returns during the financial crisis and recovery from the crisis are established. The proposed model can be applied to investigate some important market anomalies including short-term underreaction, long-term overreaction, and excess volatility during financial crisis. We also explain in some detail the linkage between these market anomalies and investors' behavioral biases during financial crisis.

Financial Shortages Patterns - an Overview on Emerging Economies

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Ioana-Veronica ALEXA

2010-12-01

Full Text Available The hereby paper tackles the onset and evolution of the global financial crisis, providing an overview of the partially foreseeable causes and extremely severe consequences. The aim of the paper is to analyze how the collapses of the US sub-prime mortgage market and the reversal of the housing boom in other industrialized economies led to a ripple effect on the world economy. In Europe, bankruptcy stroke and a number of major financial institutions collapsed, while others needed rescuing. The paper concludes that the global economy has proven to be extremely brittle and in need of coherent actions in order to insure recovery.

Securing Stability and Inclusiveness: G20 Summit Success in Controlling Financial Crises

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John Kirton

2017-08-01

Full Text Available The G20 summit system has successfully controlled financial crises, restoring global financial stability after the shock from the US in 2008 and preventing the third shock from Europe in 2010 from resulting in a global contagion. After the G20 finance ministers effectively responded to the Asian-turned-global financial crisis in 1999, they failed to prevent the greater American-turned-global financial crisis in 2008, yet their leaders together responded effectively to it, then prevented the escalating euro crisis from going global, and finally reduced the likelihood of another global financial crisis emanating from a systemically significant country. Since 2013, the G20 has also enhanced economic equality between rich and poor countries, but has not fully made up for the loss in economic growth experienced in 2008 to 2013 or eliminated the socioeconomic scarring created during that period. This increasing success was driven by the changing conditions of the forces identified in the systemic hub model of G20 governance. The first was steadily escalating shocks in finance and economics, and related fields, from 1997 to 2012. The sources of these shifted from emerging Asia to a newly-vulnerable United States, Europe and then China in a much reduced form. With such shocks exposing and equalizing the vulnerability of the major powers, the formal multilateral organizations created by the United States and its Atlantic allies in the 1940s and their subsequent informal supplements such as the G7 could not cope. Among its many international institutional competitors, the G20 alone contained, as full, equal members, the countries that increasingly possessed the collectively predominant and internally equalizing capabilities required to respond effectively. They increasingly, if unevenly, became more internationally and domestically open and interconnected financial systems, economies and societies, albeit with some setbacks after 2013. The often high

FTUC: A Flooding Tree Uneven Clustering Protocol for a Wireless Sensor Network.

Science.gov (United States)

He, Wei; Pillement, Sebastien; Xu, Du

2017-11-23

Clustering is an efficient approach in a wireless sensor network (WSN) to reduce the energy consumption of nodes and to extend the lifetime of the network. Unfortunately, this approach requires that all cluster heads (CHs) transmit their data to the base station (BS), which gives rise to the long distance communications problem, and in multi-hop routing, the CHs near the BS have to forward data from other nodes that lead those CHs to die prematurely, creating the hot zones problem. Unequal clustering has been proposed to solve these problems. Most of the current algorithms elect CH only by considering their competition radius, leading to unevenly distributed cluster heads. Furthermore, global distances values are needed when calculating the competition radius, which is a tedious task in large networks. To face these problems, we propose a flooding tree uneven clustering protocol (FTUC) suited for large networks. Based on the construction of a tree type sub-network to calculate the minimum and maximum distances values of the network, we then apply the unequal cluster theory. We also introduce referenced position circles to evenly elect cluster heads. Therefore, cluster heads are elected depending on the node's residual energy and their distance to a referenced circle. FTUC builds the best inter-cluster communications route by evaluating a cluster head cost function to find the best next hop to the BS. The simulation results show that the FTUC algorithm decreases the energy consumption of the nodes and balances the global energy consumption effectively, thus extending the lifetime of the network.

Mechanical Properties Distribution within Polypropylene Injection Molded Samples: Effect of Mold Temperature under Uneven Thermal Conditions

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Sara Liparoti

2017-11-01

Full Text Available The quality of the polymer parts produced by injection molding is strongly affected by the processing conditions. Uncontrolled deviations from the proper process parameters could significantly affect both internal structure and final material properties. In this work, to mimic an uneven temperature field, a strong asymmetric heating is applied during the production of injection-molded polypropylene samples. The morphology of the samples is characterized by optical and atomic force microscopy (AFM, whereas the distribution of mechanical modulus at different scales is obtained by Indentation and HarmoniX AFM tests. Results clearly show that the temperature differences between the two mold surfaces significantly affect the morphology distributions of the molded parts. This is due to both the uneven temperature field evolutions and to the asymmetric flow field. The final mechanical property distributions are determined by competition between the local molecular stretch and the local structuring achieved during solidification. The cooling rate changes affect internal structures in terms of relaxation/reorganization levels and give rise to an asymmetric distribution of mechanical properties.

Financial history and financial economics

OpenAIRE

Turner, John D.

2014-01-01

This essay looks at the bidirectional relationship between financial history and financial economics. It begins by giving a brief history of financial economics by outlining the main topics of interest to financial economists. It then documents and explains the increasing influence of financial economics upon financial history, and warns of the dangers of applying financial economics unthinkingly to the study of financial history. The essay proceeds to highlight the many insights that financi...

A Macroeconomic Perspective on Crisis Recovery

Directory of Open Access Journals (Sweden)

Ioana-Veronica ALEXA

2011-06-01

Full Text Available The paper discusses the manner in which advanced and emerging countries are able to recover from the most acute phase of the 2008 International Financial Crisis. Due to sound fiscal and monetary policies, certain emerging economies (especially emerging Asia are expected to account for almost half of the global economic growth in the upcoming period. The progress made by the reformation of the fiscal sector must become a top priority both for emerging and developed economies. Developed and underdeveloped economies alike still have great difficulties to face, as the financial crisis has magnified any encountered initial imbalance, slowing down a possible recovery. Nonetheless they still play in important part in boosting demand and trade in the years to come.

The Uneven Geography of Tourism in South Africa

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CM Rogerson

2014-01-01

Full Text Available Understanding the spatial dimensions of tourism is one of the core challenges for geographers involved in tourism studies. The aim in this paper is to pursue a geographical analysis of uneven patterns of tourism in South Africa and specifically to unpack the key trends observed in the country's tourism space economy. The analysis is conducted between three groupings of municipalities as destinations or tourism spaces. These three groups are demarcated as the metropolitan areas, the rural spaces of the priority district municipalities, and what is called the intermediate space of the remaining non-priority district municipalities. The findings show the dominance of South Africa's tourism space economy by the metropolitan areas. In addition, the analysis shows these three different tourism spaces exhibit different trajectories in terms of growth performance (numbers of trips, bednights and visitor spend, origin of visitors (domestic versus international and purpose of travel (leisure, business, VFR and other. Interpreting the characteristics of these tourism spaces is an essential first step for improved local tourism planning.

Financial sector taxation: Financial activities tax or financial transaction tax?

Directory of Open Access Journals (Sweden)

Danuše Nerudová

2011-01-01

Full Text Available The recent financial crises has revealed the need to improve and ensure the stability of the financial sector to reduce negative externalities, to ensure fair and substantial contribution of the financial sector to the public finances and the need to consolidate public finance. All those needs represent substantial arguments for the discussion about the introduction of financial sector taxation. There are discussed in the paper two possible schemes of financial sector taxation – financial transaction tax and financial activities tax. The aim of the paper is to research the possibility of the introduction of financial sector taxation, to discuss the pros and cons of two major candidates on financial sector taxation – financial transaction tax and financial activities tax and to suggest the possible candidate suitable for the implementation on the EU level. Financial transaction tax represents the tool suitable mainly on global level, for only in that case enables generate sufficient financial resources. From EU point of view is considered as less suitable, for it bears the risk of reallocation. Therefore the introduction of financial activities tax on EU level is considered as a better solution for the financial sector taxation in the EU, for financial sector is exempted from value added tax. With respect to the fact, that the implementation would represent the innovative approach to the financial sector taxation, there are no empirical proves and therefore this could be the subject of further research.

Impact of international financial assistance on economic growth in Europe after the World War II

Directory of Open Access Journals (Sweden)

Polchanov A.Yu.

2017-03-01

Full Text Available This research is devoted to studying the impact of international financial aid on economic growth in Europe after the Second World War. The aim of the investigation is the identification of regularities of post-war recovery of European economies in the second half of the twentieth century and the assessment of international financial aid’s role in the economic growth stimulation. The author summarizes domestic and foreign researchers’ achievements of studying the issue of the Marshall Plan and its importance for modern Ukraine, and differentiates the classic, capitalistic and modern stages of post-conflict reconstruction of the national economies. The relation between the amount of financial assistance from US government to 14 European countries and the growth of GDP in 1947–1952 is studied with the help of correlation and regression analysis and their significant linear dependence is determined. The issue of institutional support of international financing program of economic recovery of Europe has not been left without attention.

Financialization and financial profit

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Arturo Guillén

2014-09-01

Full Text Available This article starts from the critical review of the concept of financial capital. I consider it is necessary not to confuse this category with of financialization, which has acquired a certificate of naturalization from the rise of neoliberalism. Although financial monopoly-financial capital is the hegemonic segment of the bourgeoisie in the major capitalist countries, their dominance does not imply, a fortiori, financialization of economic activity, since it depends of the conditions of the process reproduction of capital. The emergence of joint stock companies modified the formation of the average rate of profit. The "promoter profit" becomes one of the main forms of income of monopoly-financial capital. It is postulated that financial profit is a kind of "extraordinary surplus-value" which is appropriated by monopoly-financial capital by means of the monopolistic control it exerts on the issue and circulation of fictitious capital.

A Matrix Transition Model for an Uneven-Aged, Oak-Hickory Forest in the Missouri Ozark Highlands

Science.gov (United States)

James R. Lootens; David R. Larsen; Edward F. Loewenstein

1999-01-01

We present a matrix growth model for an uneven-aged, oak-hickory forest in the Ozark Highlands of Missouri. The model was developed to predict ingrowth, growth of surviving trees, and mortality by diameter class for a five-year period. Tree removal from management activities is accounted for in the model. We evaluated a progression of models from a static, fixed-...

An Insight Into Budgeting, The Funding And Cost Recovery of ...

African Journals Online (AJOL)

The study further revealed that Institutions' financial support for students was woefully inadequate. Students' fee payment was also identified as the main modality for cost recovery of tertiary education. It was recommended that communities and industries should be made to make meaningful contributions towards tertiary ...

CREDITOR DEBTS PRE-TRIAL SETTLEMENT BY PARTICIPANTS OF FINANCIAL AND CREDIT RELATIONS: IMPROVEMENT MECHANISMS

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V. N. Alferov

2012-01-01

Full Text Available If a borrower who is in the state of insolvency performs his obligations under loan agreements, cases of challenging the debtor’s transactions may arise. It is expedient to use in Russia international experience of informal financial recovery for pre-trial financial rehabilitation of debtors. The rehabilitation includes three steps: continuous monitoring of the borrowers’ financial state by regional councils of directors and the court (or only by creditors; development and signing of rehabilitation plan and peaceful agreement; control over performance of the agreement by thedebtor. Anti-crisis management expert’s services may be helpful.

Financial stress and outcomes after acute myocardial infarction.

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Sachin J Shah

Full Text Available Little is known about the association between financial stress and health care outcomes. Our objective was to examine the association between self-reported financial stress during initial hospitalization and long-term outcomes after acute myocardial infarction (AMI.We used prospective registry evaluating myocardial infarction: Event and Recovery (PREMIER data, an observational, multicenter US study of AMI patients discharged between January 2003 and June 2004. Primary outcomes were disease-specific and generic health status outcomes at 1 year (symptoms, function, and quality of life (QoL, assessed by the Seattle Angina Questionnaire [SAQ] and Short Form [SF]-12. Secondary outcomes included 1-year rehospitalization and 4-year mortality. Hierarchical regression models accounted for patient socio-demographic, clinical, and quality of care characteristics, and access and barriers to care.Among 2344 AMI patients, 1241 (52.9% reported no financial stress, 735 (31.4% reported low financial stress, and 368 (15.7% reported high financial stress. When comparing individuals reporting low financial stress to no financial stress, there were no significant differences in post-AMI outcomes. In contrast, individuals reporting high financial stress were more likely to have worse physical health (SF-12 PCS mean difference -3.24, 95% Confidence Interval [CI]: -4.82, -1.66, mental health (SF-12 MCS mean difference: -2.44, 95% CI: -3.83, -1.05, disease-specific QoL (SAQ QoL mean difference: -6.99, 95% CI: -9.59, -4.40, and be experiencing angina (SAQ Angina Relative Risk = 1.66, 95%CI: 1.19, 2.32 at 1 year post-AMI. While 1-year readmission rates were increased (Hazard Ratio = 1.50; 95%CI: 1.20, 1.86, 4-year mortality was no different.High financial stress is common and an important risk factor for worse long-term outcomes post-AMI, independent of access and barriers to care.

Australian baby boomers talk about the global financial crisis.

Science.gov (United States)

Humpel, Nancy; O'Loughlin, Kate; Snoke, Martin; Kendig, Hal

2010-09-01

The aim of this qualitative study was to explore baby boomers' views and plans in the early days of the global financial crisis (GFC) in 2008. Informants from National Seniors Australia were interviewed in 15 focus groups conducted nationally. Transcripts were analysed by themes from semi-structured questions. The GFC was found to shake the confidence and plans of boomers. Many workers decided to delay retirement and save longer following losses in superannuation. Those retired on market-linked superannuation felt forced to reduce expenses and restrain lifestyles. Those on full pensions were relatively unaffected. The GFC called into question boomers' expectations for retirement. While financial markets are showing signs of recovery, the GFC had precipitated a decision to work longer and to draw conservatively on retirement savings that may take many years to recover. The volatility of financial and employment markets underscores the value of the Age pension.

Sierra Leone : Power Sector Recovery Strategy, Phase I

OpenAIRE

World Bank

2007-01-01

Power Planning Associates has been appointed by the World Bank to prepare a strategy for the recovery of the National Power Authority (NPA). This Preliminary Report presents the findings of the audit and proposes potential counter measures to improve NPA s technical and financial performance. These counter measures are presented at the end of each section of the report and are summarised...

Age and recovery from brain injury: legal opinions, clinical beliefs and experimental evidence.

Science.gov (United States)

Johnson, David A; Rose, F D; Brooks, B M; Eyers, S

2003-01-01

Despite considerable scientific evidence to the contrary, many medical practitioners maintain that children recover from brain injury better than adults. This belief, which is commonly referred to as the "Kennard Principle", has important ramifications for personal injury compensation claims in which the amount of financial damages claimed is partly based on medical experts' prognoses for recovery and long-term outcome. The present study investigated whether legal practitioners' beliefs are consistent with those of medical practitioners. Lawyers were asked to estimate their confidence in consultant neurologists' estimates of recovery in four clinically-based but fictitious case studies which differed only in the reported age of the patient. The lawyers showed more confidence in estimates which coincided with the Kennard Principle than those which did not. These results support previous findings in showing widespread belief that "younger is better" in recovery from brain injury. In consequence, it is likely that financial compensation for children with brain injury is currently being underestimated in litigation, thereby prejudicing the long-term outcome of the child.

Financial balance of the recovery of energy starting from the thermal-destruction; Bilancio economico del recupero di energia dalla termodistruzione

Energy Technology Data Exchange (ETDEWEB)

Macchi, E. [Milan Politecnico, Milan (Italy). Dipt. Energetica

2000-08-01

This work deals with the main economical, energetic and environmental aspects related to the energy recovery from the combustion of municipal solid waste, without studying the technological aspects, being these themes treated by other teachers of the energy recovery from municipal solid waste (political, authoritative, ecological, energetic and financial). It is clear the limited diffusion of the technology today achieved in our country, production and the contribution given to the tele heating from the municipal solid waste. Are then listed the main quantities that intervene in the financial evaluations (costs of investment, useful life of the plant, economical indexes, periods for implementation, operating efficiency, yield, reliability and availability of the plant, actual value of the electric and thermal power produced, revenues from waste disposal), pointing out the importance of the size of the plant, which is the real decisive element. Some explicative examples of the weight of several items are produced. The role of the energy obtained from municipal solid waste in the new electrical market liberalized is particularly studies, pointing out the advantages in comparison with the energy of conventional sources. At last, the potential of the <> plants is discussed. They conjugate the incineration of the municipal solid waste to the technology of the gas-fired combined cycles. [Italian] Il presente lavoro tratta le principali problematiche economiche, energetiche ed ambientali legate al recupero energetico dalla combustione di rifiuti solidi urbani, senza approfondirne gli aspetti tecnologici, essendo questi ultimi temi assegnati ad altri relatori del corso. Dapprima si illustrano le motivazioni a favore dell'effettuazione del recupero di energia da RSU (politiche-autorizzative, ecologiche, energetiche ed economiche). Si evidenzia la modesta diffusione raggiunta oggi nel nostro Paese dalla tecnologia, commentando i dati relativi alla potenza

Rotated sigmoid structures in managed uneven-aged northern hardwood stands: a look at the Burr Type III distribution

Science.gov (United States)

Jeffrey H. Gove; Mark J. Ducey; William B. Leak; Lianjun Zhang

2008-01-01

Stand structures from a combined density manipulation and even- to uneven-aged conversion experiment on the Bartlett Experimental Forest (New Hampshire, USA) were examined 25 years after initial treatment for rotated sigmoidal diameter distributions. A comparison was made on these stands between two probability density functions for fitting these residual structures:...

A qualitative approach to recovery after open tibial fracture: the road to a novel, patient-derived recovery scale.

Science.gov (United States)

Trickett, R W; Mudge, Elizabeth; Price, Patricia; Pallister, Ian

2012-07-01

The aim of this study was to describe how patients perceive their recovery following open tibial fractures using a qualitative approach. Following the appropriate ethical approval, adult patients with a diagnosis of open tibial fracture were recruited after completion of their surgical treatment and discharge from Morriston Hospital, a centre with orthoplastic surgical care. A purposive sampling method was employed to ensure that a range of injuries as well as clinical outcomes were included. All patients took part in an in-depth semi-structured interview, exploring aspects of their injury, treatment, rehabilitation and psychosocial and financial situations. Interviews were completed with two interviewers present and were recorded for verbatim transcription. Interview transcripts were analysed to identify items important to patients during their recovery. Nine patients with a mean injury to interview interval of 2.3 years were interviewed. A total of 538 items were identified and subsequently mapped onto 18 categories: pain; mobility; flexibility; temperature (effects on symptoms); fear; appearance; sleep; diet/weight; employment; social; finance; impact on others; self-care; recovery (patient perceptions of recovery); frustration; goal setting (by patients and health-care providers); and adaptation (both physical and mental). There is a wide range of factors that our cohort found important during their recovery from open tibial fracture. Despite being considered as 'healed' by the medical staff, patients did not report a corresponding full recovery and return to pre-injury normality. The categories identified will enable the development of a patient-reported recovery scale to be used in lower-limb trauma. Copyright © 2012 Elsevier Ltd. All rights reserved.

Treatment results by uneven fractionated irradiation, low-dose rate telecobalt therapy as a boost, and intraoperative irradiation for malignant glioma

Energy Technology Data Exchange (ETDEWEB)

Yamada, Shogo; Takai, Yoshihiro; Nemoto, Kenji; Ogawa, Yoshihiro; Kakuto, Yoshihisa; Hoshi, Akihiko; Sakamoto, Kiyohiko; Kayama, Takamasa; Yoshimoto, Takashi (Tohoku Univ., Sendai (Japan). School of Medicine)

1992-08-01

The prognosis of malignant glioma is extremely poor. We applied conventionally fractionated irradiation combined with 1-(4-aminio-2-methyl-5-pyrimidinyl)methyl-3-(2-chloroethyl)-3-nitrosourea (ACNU), uneven fractionated irradiation with ACNU, low dose rate telecobalt therapy as a boost, and intraoperative irradiation against 110 malignant gliomas to investigate the efficacy of these methods as alternative treatments for malignant glioma. Although local tumor control by uneven fractionated irradiation was better than that by the other methods, no significant improvement was obtained in survival rates. As a result of multiple regression analysis, age and histology were major factors for survival rates, and the difference of treatment methods was not important. Both low-dose rate telecobalt therapy as a boost and intraoperative irradiation showed little advantage because of the high risk of brain necrosis associated with them. (author).

ROUTING FINANCIAL FLOWS AT THE EXECUTION OF THE MUNICIPALITY BUDGET

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Mariya V. Fedotova

2018-05-01

Full Text Available Economic development of each administrative-territorial unit is an important factor in the economic development of the Russian Federation. In its turn, the effective execution of the budget at each level of the budget system is invariably topical, influencing the development of a system of both centralized and decentralized finance. The paramount characteristic of the organization of the budget execution of the municipality is an ability to ensure the timely and full execution of their commitments. There is a direct correlation of the budget process on both the revenue and expenditure sides. Cash gap in the local budget execution is actually quite common and, usually, inevitable, because revenues are coming unevenly during the financial year, budgetary expenditures are seasonal, and this threatens the execution of planned budgets; there is a need to raise funds. The article deals with the execution of the cash balance plan, cash flow at the single account of budget, debt and source of financing deficits. The analysis of financial flows in the execution of municipalities’ budget shows problems of execution of budget revenues and allows assessing the scale of emerging cash gaps. An outcome of the review consists in the recognition of an objective need to develop approaches to assessing the effectiveness of budget execution at all its stages and to implement the monitoring of the effectiveness of budget execution and timely effective measures for ensuring its high-quality.

Brazil responses to the international financial crisis: A successful example of Keynesian policies?

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Moreira Cunha André

2011-01-01

Full Text Available The paper analyses the economic policy responses of the Brazilian government to the international financial crisis. In doing so, the paper aims to answer a specific question: Can the economic policies implemented in 2008-09 be identified as Keynesian economic policies? It concludes that, despite the fact the Brazilian economic policies response to the international financial crisis seems remember Keynesian economic policies, it is not possible to argue that the recovery of the Brazilian economy can be considered a Keynesian showcase.

Development of an optimum end-effector with a nano-scale uneven surface for non-adhesion cell manipulation using a micro-manipulator

International Nuclear Information System (INIS)

Horade, M; Kojima, M; Kamiyama, K; Kurata, T; Mae, Y; Arai, T

2015-01-01

In order to realize effective micro-manipulation using a micro-manipulator system, an optimum end-effector is proposed. Cell-manipulation experiments using mouse fibroblast cells are conducted, and the usability of the proposed end-effector is confirmed. A key advantage of the micro-manipulator is high-accuracy, high-speed 3D micro- and nano-scale positioning. Micro-manipulation has often been used in research involving biological cells. However, there are two important concerns with the micro-manipulator system: gripping efficiency and the release of gripped objects. When it is not possible to grip a micro-object, such as a cell, near its center, the object may be dropped during manipulation. Since the acquisition of exact position information for a micro-object in the vertical direction is difficult using a microscope, the gripping efficiency of the end-effector should be improved. Therefore, technical skill or operational support is required. Since, on the micro-scale, surface forces such as the adsorption force are greater than body forces, such as the gravitational force, the adhesion force between the end-effector and the object is strong. Therefore, manipulation techniques without adhesion are required for placed an object at an arbitrary position. In the present study, we consider direct physical contact between the end-effector and objects. First, the design and materials of the end-effector for micro-scale manipulation were optimized, and an end-effector with an optimum shape to increase the grip force was fabricated. Second, the surface of the end-effector tip was made uneven, and the adhesion force from increasing on the micro-scale was prevented. When an end-effector with an uneven surface was used, release without adhesion was successful 85.0% of the time. On the other hand, when an end-effector without an uneven surface was used, release without adhesion was successful 6.25% of the time. Therefore, the superiority of a structure with an uneven

Baggy paper webs : Effect of uneven moisture and grammage profiles in different process steps

OpenAIRE

Land, Cecilia

2010-01-01

One of the problems encountered in paper converting is caused by the occurrence of "baggy webs", which essentially is when the tension profile of the paper web is uneven. In an area with low tension the paper is longer, which results in bagginess. The baggy parts can not usually be stretched to even out the tension of the paper web in a converting machine, with the result that runnability problems are likely to occur. The aim of the work described in this thesis was to investigate three parti...

Financial Literacy, Financial Education, and Economic Outcomes

Science.gov (United States)

Hastings, Justine S.; Madrian, Brigitte C.; Skimmyhorn, William L.

2013-01-01

In this article, we review the literature on financial literacy, financial education, and consumer financial outcomes. We consider how financial literacy is measured in the current literature and examine how well the existing literature addresses whether financial education improves financial literacy or personal financial outcomes. We discuss the…

Money is Brain: Financial Barriers and Consequences for Canadian Stroke Patients.

Science.gov (United States)

Ganesh, Aravind; King-Shier, Kathryn; Manns, Braden J; Hill, Michael D; Campbell, David J T

2017-03-01

Stroke patients of lower socioeconomic status have worse outcomes. It remains poorly understood whether this is due to illness severity or personal or health system barriers. We explored the experiences of stroke patients with financial barriers in a qualitative descriptive pilot study, seeking to capture perceived challenges that interfere with their poststroke health and recovery. We interviewed six adults with a history of stroke and financial barriers in Alberta, Canada, inquiring about their: (1) experiences after stroke; (2) experience of financial barriers; (3) perceived reasons for financial barriers; (4) health consequences of financial barriers; and (5) mechanisms for coping with financial barriers. Two reviewers analyzed data using inductive thematic analysis. The participants developed new or worsened financial circumstances as a consequence of stroke-related disability. Poststroke impairments and financial barriers took a toll on their mental health. They struggled to access several aspects of long-term poststroke care, including allied health professional services, medications, and proper nutrition. They described opportunity costs and tradeoffs when accessing health services. In several cases, they were unaware of health resources available to them and were hesitant to disclose their struggles to their physicians and even their families. Some patients with financial barriers perceive challenges to accessing various aspects of poststroke care. They may have inadequate knowledge of resources available to them and may not disclose their concerns to their health care team. This suggests that providers themselves might consider asking stroke patients about financial barriers to optimize their long-term poststroke care.

Uneven health outcomes and political resistance under residual neoliberalism in Africa.

Science.gov (United States)

Bond, Patrick; Dor, George

2003-01-01

Africa has suffered two decades of policy implementation associated with the "neoliberal" macroeconomic as well as micro-development paradigm, and the health status of this continent has deteriorated markedly. Notwithstanding the discrediting of such policies since the late 1990s, they continue to be applied in Africa, especially by the World Bank and IMF, through Poverty Reduction Strategy Papers and the Highly Indebted Poor Countries debt relief initiative. Evidence can be found in the inadequate fiscal allocations to the health sector; the inadequate conceptualization of health in relation to other sectors; insufficient consultation with civil society; ongoing implementation of cost-recovery and user-fee provisions; a failed strategy to access pharmaceutical products, by respecting unnecessary Trade in Intellectual Property Rights provisos; and, most importantly, glaring insufficiencies in reducing Africa's foreign debt. One reflection of the balance of forces between Washington financial agencies and African societies is the adoption of the New Partnership for Africa's Development at the urging of the South African and Nigerian governments. While the WHO has helped to research, publicize, and criticize the problems associated with durable neoliberalism in African health care, it also continues to make serious mistakes as it remains locked within the paradigm. A human rights perspective being developed by the African Social Forum is, in contrast, consistent with broader international trends in the opposition to corporate globalization.

The Impact of EU Financial Crisis and the EU Member States Measures taken to Leave Recession

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Simona Moagăr-Poladian

2009-10-01

Full Text Available This paper is focussed on the financial packages and fiscal stimuli measures taken by EU as a group and by each EU country for supporting hard-hit sectors like automotive industry, tourism and construction. The economic crisis from 2008-2009 has led to a sharp decrease of investment climate and a massive contraction of economic activity. This means a sharp decrease of capacity utilisation that had led in time to an excessive unemployment especially in the most hit sectors. The financial rescue measures of EU are comprised in European Economic Recovery Plan (EERP. Measures approved are different from country to country, depending by the political support and the strategy chosen by the government. The EU's response to support the real economy during the economic crisis has been taken very fast and well-organized in certain countries and industries. By contrary, some Member States' recovery measures has been approved late and the rescue strategy wasn’t enough achieved. This has led to a deepening of financial instability and unemployment.

Decision support systems for recovery of endangered species

International Nuclear Information System (INIS)

Armstrong, C.E.

1995-01-01

The listing of a species as endangered under the Endangered Species Act invokes a suite of responses to help improve conditions for the recovery of that species, to include identification of stressors contributing to population loss, decision analysis of the impacts of proposed recovery options, and implementation of optimal recovery measures. The ability of a decision support system to quantify inherent stressor uncertainties and to identify the key stressors that can be controlled or eliminated becomes key to ensuring the recovery of an endangered species. The listing of the Snake River sockeye, spring/summer chinook, and fall chinook salmon species in the Snake River as endangered provides a vivid example of the importance of sophisticated decision support systems. Operational and physical changes under consideration at eight of the hydroelectric dams along the Columbia and Lower Snake River pose significant financial impacts to a variety of stakeholders involved in the salmon population recovery process and carry significant uncertainties of outcome. A decision support system is presented to assist in the identification of optimal recovery actions for this example that includes the following: creation of datamarts of information on environmental, engineering, and ecological values that influence species survival; incorporation of decision analysis tools to determine optimal decision policies; and the use of geographic information systems (GIS) to provide a context for decision analysis and to communicate the impacts of decision policies

Case study of an organic Rankine cycle applied for excess heat recovery: Technical, economic and policy matters

International Nuclear Information System (INIS)

Lemmens, Sanne; Lecompte, Steven

2017-01-01

Highlights: • Case study of an organic Rankine cycle for heat recovery from an industrial kiln. • The costs and financial feasibility of the system are discussed in detail. • The cost structure is most defined by the capital costs, annual costs are limited. • The system is financially feasible, but subsidies remain important. • The results are most sensitive to changes in load hours and electricity price. - Abstract: Many industrial processes inevitably produce excess heat as by-product. Recovering this heat is a matter of waste management and provides opportunities to improve the energy use efficiency. The excess heat can be used for heating purposes (e.g., in processes, or delivered to district heating systems or buildings) or to generate electricity. An increasingly applied technology for industrial excess heat recovery is the organic Rankine cycle (ORC), suitable to recover low-grade heat from 90 °C onwards. Although ORCs are studied intensively, few studies have examined the economics of commissioned ORC systems. This paper investigates a 375 kW_g_r_o_s_s ORC system employed for flue gas heat recovery from an industrial kiln in Flanders, Belgium. The purpose of the study is twofold: providing insight into a practical ORC case; and evaluating the financial feasibility while taking the specific policy circumstances into account. The financial appraisal takes account of the specific technical setup, the diverse costs of the system, the external economic parameters, and the policy circumstances in Europe, Belgium and Flanders. A sensitivity analysis illustrates the influence of each parameter on the results. The analysis demonstrates the dominance of the investment costs (4217 €_2_0_1_3/kW_g_r_o_s_s) in the expenses. Under the valid conditions the investment has a positive financial return, but the financial support from the government is indispensable. Finally, the sensitivity analysis reveals the importance of attaining sufficient load hours and the

Financial integration and financial development in transition economies: What happens during financial crises?

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Igor Masten

2011-12-01

Full Text Available

This paper provides an empirical analysis of the role of financial development and financial integration in the growth dynamics of transition countries. We focus on the role of financial integration in determining the impact of financial development on growth, distinguishing “normal times” from periods of financial crises. In addition to confirming the significant positive effect on growth exerted by financial development and financial integration, our estimates show that a higher degree of financial openness tends to reduce the contractionary effect of financial crises, by cushioning the effect on the domestic supply of credit. Consequently, the high reliance on international capital flows by transition countries does not necessarily increase their financial fragility. This implies that financial protectionism is a self-defeating policy, at least for transition countries.

Correlation of the carotid intima-media unevenness and stiffness with serum illness indexes in patients with type 2 diabetes mellitus

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Ming-Rong Yang

2017-11-01

Full Text Available Objective: To investigate the correlation of the carotid intima-media unevenness and stiffness with serum illness indexes in patients with type 2 diabetes mellitus. Methods: A total of 118 patients with type 2 diabetes mellitus who were treated in this hospital between February 2016 and August 2017 were selected as the diabetes group, and 100 healthy volunteers who received physical examination in this hospital during the same period were selected as normal control group. The differences in carotid intima-media unevenness and stiffness levels as well as serum levels of insulin resistance indexes and inflammatory adipocytokines were compared between the two groups of subjects. Pearson test was used to assess the correlation between carotid intima-media parameter levels and above serum illness index levels in patients with type 2 diabetes mellitus. Results: IMIsqrt and PWV levels in diabetes group were higher than those in normal control group; serum FINS and IRI levels were higher than those in normal control group whereas ISI level was lower than that in normal control group; serum APN content was lower than that in normal control group whereas LEP and SAA contents were higher than those in normal control group. Pearson test showed that the IMIsqrt and PWV levels in patients with type 2 diabetes mellitus were directly correlated with serum insulin resistance index levels and inflammatory adipocytokine contents. Conclusion: Carotid intima-media unevenness and stiffness both increase in patients with type 2 diabetes mellitus, and could objectively reflect the insulin resistance and systemic micro-inflammatory state.

Financial Village Standing in Indonesian Financial System

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Herry Purnomo

2015-12-01

Full Text Available Financial resources of the village that are sourced from a country or a Regional Finance Financial based Law Number 6 Year 2014 of The Village is the mandate of the law that must be allocated to the village. The interconnectedness of the financial position of the village in the financial system of the country or Region concerned the Financial administrative and territorial relations, and there is no setting directly regarding the finances of the village as part of the financial system of the country or the financial area. In respect of the elements of the crime of corruption deeds against financial irregularities of the village there are still disagreements on the interpretation of the law in trapping the perpetrators of corruption on the village chief that implies not satisfy the principle of legality and legal certainty in the ruling of the matter of financial irregularities. In fact, many of the village chief or Councilor caught the criminal offence of corruption over the use of financial irregularities. This research analyzes How the financial position of the village in the financial system of the country or region, as well as whether the financial resources of the village is derived from the state budget or region budget managed in village budget belongs to the category of village finances and whether tort against the financial management of the village can be categorized as a criminal act corruption. How To Cite: Purnomo, H. (2015. Financial Village Standing in Indonesian Financial System. Rechtsidee, 2(2, 121-140. doi:http://dx.doi.org/10.21070/jihr.v2i2.81

Damage, Loss, and Needs Assessment Guidance Notes : Volume 3. Estimation of Post-Disaster Needs for Recovery and Reconstruction

OpenAIRE

Jovel, Roberto J.; Mudahar, Mohinder

2010-01-01

This is a guideline for World Bank task team leaders (TTLs) entrusted with the design and execution of assessments to determine disaster impacts as well as post-disaster needs for recovery, reconstruction, and disaster risk reduction or management. Assessments estimate, first, the short-term government interventions required to initiate recovery and second, the financial requirements to ac...

Recovery post treatment: plans, barriers and motivators.

Science.gov (United States)

Duffy, Paul; Baldwin, Helen

2013-01-30

The increasing focus on achieving a sustained recovery from substance use brings with it a need to better understand the factors (recovery capital) that contribute to recovery following treatment. This work examined the factors those in recovery perceive to be barriers to (lack of capital) or facilitators of (presence of capital) sustained recovery post treatment. A purposive sample of 45 participants was recruited from 11 drug treatment services in northern England. Semi-structured qualitative interviews lasting between 30 and 90 minutes were conducted one to three months after participants completed treatment. Interviews examined key themes identified through previous literature but focused on allowing participants to explore their unique recovery journey. Interviews were transcribed and analysed thematically using a combination of deductive and inductive approaches. Participants generally reported high levels of confidence in maintaining their recovery with most planning to remain abstinent. There were indications of high levels of recovery capital. Aftercare engagement was high, often through self referral, with non substance use related activity felt to be particularly positive. Supported housing was critical and concerns were raised about the ability to afford to live independently with financial stability and welfare availability a key concern in general. Employment, often in the substance use treatment field, was a desire. However, it was a long term goal, with substantial risks associated with pursuing this too early. Positive social support was almost exclusively from within the recovery community although the re-building of relationships with family (children in particular) was a key motivator post treatment. Addressing internal factors and underlying issues i.e. 'human capital', provided confidence for continued recovery whilst motivators focused on external factors such as family and maintaining aspects of a 'normal' life i.e. 'social and physical

Recovery post treatment: plans, barriers and motivators

Directory of Open Access Journals (Sweden)

Duffy Paul

2013-01-01

Full Text Available Abstract Background The increasing focus on achieving a sustained recovery from substance use brings with it a need to better understand the factors (recovery capital that contribute to recovery following treatment. This work examined the factors those in recovery perceive to be barriers to (lack of capital or facilitators of (presence of capital sustained recovery post treatment. Methods A purposive sample of 45 participants was recruited from 11 drug treatment services in northern England. Semi-structured qualitative interviews lasting between 30 and 90 minutes were conducted one to three months after participants completed treatment. Interviews examined key themes identified through previous literature but focused on allowing participants to explore their unique recovery journey. Interviews were transcribed and analysed thematically using a combination of deductive and inductive approaches. Results Participants generally reported high levels of confidence in maintaining their recovery with most planning to remain abstinent. There were indications of high levels of recovery capital. Aftercare engagement was high, often through self referral, with non substance use related activity felt to be particularly positive. Supported housing was critical and concerns were raised about the ability to afford to live independently with financial stability and welfare availability a key concern in general. Employment, often in the substance use treatment field, was a desire. However, it was a long term goal, with substantial risks associated with pursuing this too early. Positive social support was almost exclusively from within the recovery community although the re-building of relationships with family (children in particular was a key motivator post treatment. Conclusions Addressing internal factors and underlying issues i.e. ‘human capital’, provided confidence for continued recovery whilst motivators focused on external factors such as family and

FINANCIAL INSTABILITY, FINANCIAL DEVELOPMENT AND POVERTY

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Ionescu Cristian

2012-12-01

Full Text Available There is a positive relationship between financial development and economic growth in short-run and long-run. Financial development is beneficial to the reduction of poverty. But the financial instability which accompanies financial development is is costly for the poor and reduces the positive effect of financial development on the reduction of poverty. The paper aims to analyze in detail the relationship and the (direct and indirect effects between these variables, taking into account their economic and social importance. It is also highlighted the correlation between the financial economy and the real economy, emphasizing the impact on social welfare involved by the interaction of the above mentioned variables.

Deciphering the Sunshine Act: Transparency Regulation and Financial Conflicts in Health Care.

Science.gov (United States)

Saver, Richard S

2017-11-01

The Physician Payments Sunshine Act ("Sunshine Act"), enacted to address financial conflicts in health care, is the first comprehensive federal legislation mandating public reporting of payments between drug companies, device manufacturers, and medicine. This article analyzes the Sunshine Act's uneven record, exploring how the law serves as an intriguing example of the uncertain case for transparency regulation in health care. The Sunshine Act's bumpy rollout demonstrates that commanding transparency through legislation can be arduous because of considerable implementation challenges. Capturing all the relevant information about financial relationships and reporting it with sufficient contextual and comparative data has proven disappointingly difficult. In addition, the law suffers from uncertainty and poor design as to the intended audience. Indeed, there is strong reason to believe that it will not significantly impact decision-making of primary recipients like patients. Yet the Sunshine Act nonetheless retains important and perhaps underappreciated value. From the almost four years of information generated, we have learned that industry-medicine financial ties vary significantly by physician specialty, and somewhat by physician gender. In many medical fields the distribution of top dollar payments tends to be heavily skewed to a few recipients, all of which have important implications for optimal management of financial conflicts and for health policy more generally. Accordingly, the Sunshine Act's greatest potential is not guiding decisions of individual patients or physicians, but its downstream effects. This Article traces how secondary audiences, such as regulators, watchdogs, and counsel are already starting to make productive use of Sunshine Act information. Public reporting has, for example, made more feasible linking industry payment information with Medicare reimbursement data. As a result, policymakers can more closely examine correlations between

Walking Robots Dynamic Control Systems on an Uneven Terrain

Directory of Open Access Journals (Sweden)

MUNTEANU, M. S.

2010-05-01

Full Text Available The paper presents ZPM dynamic control of walking robots, developing an open architecture real time control multiprocessor system, in view of obtaining new capabilities for walking robots. The complexity of the movement mechanism of a walking robot was taken into account, being a repetitive tilting process with numerous instable movements and which can lead to its turnover on an uneven terrain. The control system architecture for the dynamic robot walking is presented in correlation with the control strategy which contains three main real time control loops: balance robot control using sensorial feedback, walking diagram control with periodic changes depending on the sensorial information during each walk cycle, predictable movement control based on a quick decision from the previous experimental data. The results obtained through simulation and experiments show an increase in mobility, stability in real conditions and obtaining of high performances related to the possibility of moving walking robots on terrains with a configuration as close as possible to real situations, respectively developing new technological capabilities of the walking robot control systems for slope movement and walking by overtaking or going around obstacles.

Financial Literacy and Financial Behaviour

NARCIS (Netherlands)

Sayinzoga, Aussi; Bulte, Erwin H.; Lensink, Robert

2016-01-01

We organise a field experiment with smallholder farmers in Rwanda to measure the impact of financial literacy training on financial knowledge and behaviour. The training increased financial literacy of participants, changed their savings and borrowing behaviour and had a positive effect on the

Development of quadrupled robot for disaster site - Improvement of stable walking control on uneven terrain - 15227

International Nuclear Information System (INIS)

Suganuma, N.; Mitsuya, Y.; Sonoura, T.; Matsuzaki, K.; Uehara, T.; Nakamura, N.

2015-01-01

At the Fukushima Daiichi Nuclear Power Station, which was seriously damaged by the Great East Japan Earthquake on March 11 in 2011, it has been difficult for workers to approach the reactor buildings due to the hazardous surrounding environment. The need had therefore arisen for remote-controlled robots to facilitate inspection and restoration works on behalf of workers in such high-level radiation environments. We have developed a quadruped walking robot that can carry various tools for decommissioning works. The robot can keep its balance while walking on uneven surfaces, slopes, and stairs due to control methods such as the autonomous determination of the leg trajectory and the center of gravity position of the robot, corrections of the leg landing positions and the body posture with an operator intervention according to the walking situation. This quadruped walking robot was applied to the investigation of suspected water leakage areas in the reactor building of Fukushima Daiichi Nuclear Power Station Unit 2 in December 2012. In this study, we have improved the walking stability on uneven terrains by modifying the swing leg trajectory to reduce the impulse force at the time of landing and dynamically controlling the center of gravity of the robot by controlling the body position and posture. A validity of the above control methods were confirmed by simulation and experiments. (authors)

The Effects of Moon’s Uneven Mass Distribution on the Critical Inclinations of a Lunar Orbiter

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Walid A. Rahoma

2014-12-01

Full Text Available The uneven mass distribution of the Moon highly perturbs the lunar spacecrafts. This uneven mass distribution leads to peculiar dynamical features of the lunar orbiters. The critical inclination is the value of inclination which keeps the deviation of the argument of pericentre from the initial values to be zero. Considerable investigations have been performed for critical inclination when the gravity field is assumed to be symmetric around the equator, namely for oblate gravity field to which Earth’s satellites are most likely to be subjected. But in the case of a lunar orbiter, the gravity field of mass distribution is rather asymmetric, that is, sectorial, and tesseral, harmonic coefficients are big enough so they can’t be neglected. In the present work, the effects of the first sectorial and tesseral harmonic coefficients in addition to the first zonal harmonic coefficients on the critical inclination of a lunar artificial satellite are investigated. The study is carried out using the Hamiltonian framework. The Hamiltonian of the problem is cconstructed and the short periodic terms are eliminated using Delaunay canonical variables. Considering the above perturbations, numerical simulations for a hypothetical lunar orbiter are presented. Finally, this study reveals that the critical inclination is quite different from the critical inclination of traditional sense and/or even has multiple solutions. Consequently, different families of critical inclination are obtained and analyzed.

Uneven exchange and urban binational complexes in Dominican Republic’s border with Haiti

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Haroldo Dilla Alfonso

2004-01-01

Full Text Available The Dominican/Haitian border is signed by profound asymmetries and the predominance of a relation of uneven exchange in benefit of Dominican Republic. Transborder relations summary this contradictory relation, but at the same time constitute the only form of survival for more than half million of Haitians that inhabit the region. This article discusses the history of this relation and its present tendencies, including the formation of economic regions and urban binational systems. The weakness of regulatory public policies and the aggressive action of the market generate a very contradictory setting that could lead to conflicts by the use of shared natural resources, the exploitation of the Haitian labour force, and the agitation of nationalist positions.

FINANCIAL DEPTH AND FINANCIAL ACCESS IN INDONESIA

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Sigit Setiawan

2015-05-01

Full Text Available This study is intended to analyze the current levels of financial depth and financial access in Indonesia and to analyze the factors affecting them. The analysis method used was a combination of descriptive quantitative, benchmarking, and literature reviews. The conclusion is that the financial depth in Indonesia has not shown a satisfactory level since it was the lowest, or the second lowest ranked country among the sampled countries. Meanwhile, the financial access in Indonesia is relatively better than its financial depth, especially for financial markets, in which Indonesia ranks in the lower average group. From literature reviews, it can be inferred that the main factor driving the poor financial depth in Indonesia is non-competitiveness of the institutions; whereas the driving force of poor financial access in Indonesia are geographical constraints, poverty, a high income gap, and a less than effective national financial development policy.

FINANCIAL DISCIPLINE IN REPUBLIC MACEDONIAWAY OF MORE EFFICIENT MODE FOR ENTERPRISES’ ACTIVITIES

Directory of Open Access Journals (Sweden)

EMILIJA MATESKA

2015-04-01

Full Text Available The severe economic crisis that occupied the world economy can be felt in the Republic of Macedonia, too. The low solvency and the decreased buying faculties of the population and firms are a major problem in the economics in general. A great capability and power is necessary in order to survive in these difficult economic conditions, as well as a constant alertness by the firms as instigators of the economic activity in every country. Enitieis in the Economy are realizing different tipes of transactions making financial obligations that, ussualy can not be fullfiled. As a result there is a problem with financial recovery that disrupts their liquidity, and at the end point, their activity in the economy is worsens. Because of that, the Law for Financial Discipline was voted, for the first time in Republic of Macedonia in December 2013. This Law is regulation for payments on time for all financial activities made between private entities, also for financial activities made between entities among public and private sector preventing failure of the financial obligations on agreed terms. In this article we would like to determine the reasons and needs for finding the way which will be regulatory instead of punishment for successful financial discipline of the entities, that will improve their liquidity and, of course, to ensure better activities in the economy as a whole.

Financial analysis as a financial management instrument

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Stehlíková Beáta

2001-12-01

Full Text Available The financial market is one of the elements of the market-oriented economy. The financial analysis is a fundamental element of the financial controlling business. The purpose of this article is to inform briefly about horizontal and vertical financial statements analysis as the source of competitive advantage of the firm. The article is divided into two parts. First describes financial analysis and financial statements generally. Second, it presents a practical contribution of the horizontal and vertical financial statements analysis at the controlled businesses as financial management tools, which identify the financial position, market behaviour, correlations between the net profit and the prohibitively cost and operating profit, the financial activities profit, the income tax etc.Business, which the analysed firm operates in asks a provable claim on the high value of fixed assets. The capital composition of the firm is call to typify for the state-owned enterprise that was transformed to private joint-stock companies. Analysis is specially pleading for the needs considering the price of the borrowed capital in the capital structure rating. Fault factor ø value talks about needs for the cost regulation. Stair-step conception used for counting of the net profit in the accountant period indicates the financial profit, alternatively loss, as the distinguished pre-tax profit element. Picture about firm’s financial results can be completed with the information about the income tax value. Form of financial analyses presented in the article entablature the accents on the necessity to compare several accounting period and on the necessity of complex understanding of statements accounting slide “en bloc”.Financial analyse makes the decision makers possible to screen potential partners before the cooperation starts. On the other side, it makes a possibility to influence the production process, sales and financial management during the accounting

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.

Financial satisfaction and financial stressors in marital satisfaction.

Science.gov (United States)

Archuleta, Kristy L; Britt, Sonya L; Tonn, Teresa J; Grable, John E

2011-04-01

Using a sample of 310 married respondents from one U.S. Midwestern state, a test was conducted to examine the association of financial satisfaction and financial stressors in a spouse's decision to stay married to the same person or leave the relationship. The role of demographic and socioeconomic variables, religiosity, psychological constructs, financial satisfaction, and financial stressors as factors influencing marital satisfaction was tested. Financial stressors were measured using a list of financial stressors adapted from the literature. Financial satisfaction was measured with a one-item scale. The Kansas Marital Satisfaction Scale was used as a validation tool to assess whether individuals would marry or not marry again. Religiosity and financial satisfaction were positively associated with marital satisfaction. A negative interaction between financial satisfaction and financial stressors was also noted. Findings suggest that respondents who are financially satisfied tend to be more stable in their marriages.

Dynamic modeling method of the bolted joint with uneven distribution of joint surface pressure

Science.gov (United States)

Li, Shichao; Gao, Hongli; Liu, Qi; Liu, Bokai

2018-03-01

The dynamic characteristics of the bolted joints have a significant influence on the dynamic characteristics of the machine tool. Therefore, establishing a reasonable bolted joint dynamics model is helpful to improve the accuracy of machine tool dynamics model. Because the pressure distribution on the joint surface is uneven under the concentrated force of bolts, a dynamic modeling method based on the uneven pressure distribution of the joint surface is presented in this paper to improve the dynamic modeling accuracy of the machine tool. The analytic formulas between the normal, tangential stiffness per unit area and the surface pressure on the joint surface can be deduced based on the Hertz contact theory, and the pressure distribution on the joint surface can be obtained by the finite element software. Futhermore, the normal and tangential stiffness distribution on the joint surface can be obtained by the analytic formula and the pressure distribution on the joint surface, and assigning it into the finite element model of the joint. Qualitatively compared the theoretical mode shapes and the experimental mode shapes, as well as quantitatively compared the theoretical modal frequencies and the experimental modal frequencies. The comparison results show that the relative error between the first four-order theoretical modal frequencies and the first four-order experimental modal frequencies is 0.2% to 4.2%. Besides, the first four-order theoretical mode shapes and the first four-order experimental mode shapes are similar and one-to-one correspondence. Therefore, the validity of the theoretical model is verified. The dynamic modeling method proposed in this paper can provide a theoretical basis for the accurate dynamic modeling of the bolted joint in machine tools.

Russia’s Money Markets and Financial Institutions in 2014

OpenAIRE

Alexander Abramov

2015-01-01

This paper deals with a wide scope of issues, starting with the post-crisis recovery of Russia's financial market. The author analyzes the market for shares issued by Russian companies, investigates dependence on the global conjuncture of prices and inflow and outflow of foreign portfolio investment. He also studies currency exchange rate, looks at the competition on the domestic share market, and analyzes preliminary results of the merger of the RTS and MICEX. The article deals with the mark...

Political economy of climate change, ecological destruction and uneven development

International Nuclear Information System (INIS)

O'Hara, Phillip Anthony

2009-01-01

The purpose of this paper is to analyze climate change and ecological destruction through the prism of the core general principles of political economy. The paper starts with the principle of historical specificity, and the various waves of climate change through successive cooler and warmer periods on planet Earth, including the most recent climate change escalation through the open circuit associated with the treadmill of production. Then we scrutinize the principle of contradiction associated with the disembedded economy, social costs, entropy and destructive creation. The principle of uneven development is then explored through core-periphery dynamics, ecologically unequal exchange, metabolic rift and asymmetric global (in)justice. The principles of circular and cumulative causation (CCC) and uncertainty are then related to climate change dynamics through non-linear transformations, complex interaction of dominant variables, and threshold effects. Climate change and ecological destruction are impacting on most areas, especially the periphery, earlier and more intensely than previously thought likely. A political economy approach to climate change is able to enrich the analysis of ecological economics and put many critical themes in a broad context. (author)

An Approach to Stable Walking over Uneven Terrain Using a Reflex-Based Adaptive Gait

Directory of Open Access Journals (Sweden)

Umar Asif

2011-01-01

Full Text Available This paper describes the implementation of an adaptive gait in a six-legged walking robot that is capable of generating reactive stepping actions with the same underlying control methodology as an insect for stable walking over uneven terrains. The proposed method of gait generation uses feedback data from onboard sensors to generate an adaptive gait in order to surmount obstacles, gaps and perform stable walking. The paper addresses its implementation through simulations in a visual dynamic simulation environment. Finally the paper draws conclusions about the significance and performance of the proposed gait in terms of tracking errors while navigating in difficult terrains.

Recovery Audit Contractor medical necessity readiness: one health system's journey.

Science.gov (United States)

Scott, Judith A; Camden, Mindy

2011-01-01

To develop a sustainable approach to Recovery Audit Contractor medical necessity readiness that mitigates the regulatory and financial risks of the organization. Acute care hospitals. Utilizing the model for improvement and plan-do-study-act methodology, this health system designed and implemented a medical necessity case management program. We focused on 3 areas for improvement: medical necessity review accuracy, review timeliness, and physician adviser participation for secondary reviews. Over several months, we improved accuracy and timeliness of our medical necessity reviews while also generating additional inpatient revenue for the health system. We successfully enhanced regulatory compliance and reduced our financial risks associated with Recovery Audit Contractor medical necessity audits. A successful medical necessity case management program can not only enhance regulatory compliance and reduce the amount of payments recouped by Medicare, but also generate additional inpatient revenue for your organization. With health care reform and accountable care organizations on the horizon, hospitals must find ways to protect and enhance revenue in order to carry out their missions. This is one way for case managers to help in that cause, to advocate for the care of their patients, and to bring value to the organization.

Disaster Recovery Framework for Commercial Banks in Sri Lanka

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Mueen Uddin

2016-03-01

Full Text Available The banking sector is the backbone of the entire financial economy of a country. In today’s globalized world, most organizations use online transaction processing systems for transferring money and doing business. Natural or man-made disasters can lead to data loss which in turn can cause millions of dollars of money lost. This study focuses on disaster recovery practices in commercial banks in Sri Lanka. From our preliminary findings, it was concluded that commercial banks only have ad-hoc disaster recovery standards and practices, as there is no standard framework available. Fourteen (14 banks were selected for data collection and relevant authorities were interviewed. The results were translated as qualitative observations to understand the best practices. Similarly, international standards, compliance requirements of the central bank, and existing researches were used to develop a disaster recovery practice framework. The proposed framework was then validated for its efficiency and usefulness among commercial banks and found to be acceptable by the banking industry.  

Linkages between financial development, financial instability, financial liberalisation and economic growth in Africa

OpenAIRE

Enowbi Batuo, M.; Mlambo, Kupukile; Asongu, Simplice

2017-01-01

In the aftermath of the 2008 global financial crisis, the implications of financial liberalisation for stability and economic growth has come under increased scrutiny. One strand of literature posits a positive relationship between financial liberalisation and economic growth and development. However, others emphasise the link between financial liberalisation is intrinsically associated with financial instability which may be harmful to economic growth and development. This study assesses ...

Financial Literacy and Financial Planning in France

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Luc Arrondel

2013-07-01

Full Text Available We study financial literacy in France using the PATER survey and following the Lusardi and Mitchell (2011c approach. We find that some subpopulations are less financially literate than others: women, young and old people as well as less-educated people are more likely to face difficulties when dealing with fundamental financial concepts such as risk diversification and inflation and interest compounding. We also find some differences in financial knowledge depending on the political opinion of the respondents. Finally we show that these differences in financial knowledge are correlated with differences in the propensity to plan: people who score higher on the financial literacy questions are more likely to be engaged in the preparation of a clearly defined financial plan.

Corporate Investments in Asian Emerging Markets: Financial Conditions, Financial Development, and Financial Constraints

OpenAIRE

Wang, Jianxin; Gochoco-Bautista, Maria Socorro; Sotocinal, Noli

2013-01-01

Motivated by the literature on the finance–growth nexus, this paper explores the mechanisms through which finance affects corporate investments and capital accumulation. We separate the effects of financial conditions from those of financial development. Based on a sample of firms from five Asian emerging economies, we find that (1) financial conditions and financial development affect corporate investments through different channels. Financial conditions affect firms' growth opportunities an...

A general mixed mode fracture mechanics test specimen: The DCB-specimen loaded with uneven bending moments

DEFF Research Database (Denmark)

Sørensen, Bent F.; Jørgensen, K.; Jacobsen, T.K.

2004-01-01

A mixed mode specimen is proposed for fracture mechanics characterisation of adhesive joints, laminates and multilayers. The specimen is a double cantilever beam specimen loaded with uneven bending moments at the two free beams. By varying the ratiobetween the two applied moments, the full mode...... glass-fibre laminates was studied. The mixed mode fracture resistance increased with increasing crack length due to fibre bridging, eventually reaching asteady-state level (R-curve behaviour). The steady-state fracture toughness level increased with increasing tangential crack opening displacement....

Understanding Financial Statements. Financial Matters. Board Basics.

Science.gov (United States)

McCarthy, John H.; Turner, Robert M.

1998-01-01

This booklet for trustees of higher education institutions offers guidelines to help trustees understand the institution's financial statements. Individual sections describe the three major financial statements and cover topics such as: (1) standards of the Financial Accounting Standards Board; (2) the "statement of financial position,"…

Does financial literacy improve financial inclusion? Cross country evidence

OpenAIRE

Grohmann, Antonia; Klühs, Theres; Menkhoff, Lukas

2017-01-01

While financial inclusion is typically addressed by improving the financial infrastructure we show that financial literacy, representing the demand-side of financial markets, also has a beneficial effect. We study this effect at the cross-country level, which allows to consider institutional variation. Regarding "access to finance", financial infrastructure and financial literacy are mainly substitutes. However, regarding the "use of financial services", the effect of higher financial literac...

Influence of uneven settlements of the curved glulam frames’ bearings on the cornice node’s stress-strain state

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Денис Віталійович Михайловський

2016-07-01

Full Text Available Comparison analysis of the cornice node’s stress of three-hinged curved glulam frames that caused by uneven settlements of bearings are shown in the article. Three-dimensional finite elements model of the building using LIRA-SAPR 2013 was developed for research. Settlements were determined by the stratified method and by calculations of the system “substructures – foundations – constructions” using physically non-linear soil massive

Quality of Financial Policies and Financial System Stress

OpenAIRE

Udaibir S Das; Plamen Yossifov; Richard Podpiera; Dmitriy L Rozhkov

2005-01-01

In this paper, we develop multi-country indices of financial system stress and quality of financial policies and use them in regression analysis of the determinants of financial stress. We find that countries with higher quality of financial policies are better able to contain the effects of macroeconomic pressures on the overall level of stress in the financial system. They are also in a better position to ensure sustainable development of the financial system.

Why Financial Advice Cannot Substitute for Financial Literacy?

OpenAIRE

M. Debbich

2015-01-01

This paper examines the ability of financial advice provided by sellers of financial services to substitute for financial literacy of customers. I set up a simple theoretical model in which an informed financial advisor communicates with a less informed customer of financial services. Given the existence of a conflict of interest from the advisor's perspective, the model predicts that only well financially sophisticated customers receive relevant information from the advisor. This fact tends ...

Do Catalan private hospitals enjoy financial health?

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Judit Creixans Tenas

2016-02-01

Full Text Available Purpose: The present study reflects the economic and financial analysis of  private hospitals with non-charitable character in Catalonia 2008-2013. The private health sector is considered to be a service activity that develops an important social role. The study positions these analysed centers in the Catalan and Spanish health sector and presents the main economic and financial indicators to diagnose the situation of these companies during the period indicated by analysing short and long-term results and analysis of changes in equity and cash flows of the wineries. Design/methodology/approach: The data used comes from the statements of the Catalan hospital centers in the period 2008-2013 and in particular, it contains a sample of 94 Catalan private hospitals, that mostly are considered large-level accounting (according to the General Accounting Plan. The economic and financial  analysis has carried out using descriptive statistics and analysis results and conclusions have been reached. Findings: The study noted that enables private hospitals in this period have a healthy economic and financial status, although it should improve the management of assets. Most sales are concentrated with a small number of hospitals and, regarding the evolution of the results, produces two distinct stages, the first period of decrease (2008-2010 and the second period of growth and recovery from 2011.. Research limitations/implications: It would be desirable to perform the same study by the Spanish private hospitals in order to compare the economic and financial analysis of the Catalan private sector with the Spanish private sector. Practical implications: It allows us to assess the projection of this sector in recent years in Catalonia in order to take the appropriate economic decisions in this regard. Social implications: The results show the changes that have occurred over the years in the economic crisis of the period analysed. Originality / value: For

Methodology for assessing the financial potential of the state in overcoming the consequences of military conflicts

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A.Yu. Polchanov

2018-04-01

Full Text Available The article is devoted to the study of the methodological foundations for measuring the state financial potential in overcoming the consequences of military conflicts. The critical analysis of papers on this subject makes it possible to define 10 quantitative indicators to assess the formation, distribution and use of financial resources to ensure post-conflict recovery. Separately, the author had proposed an indicator of regional concentration of sources of financial resources, which allows assessing the level of financial imbalances at the regional level. Based on data from the State Statistics Service of Ukraine, the National Bank of Ukraine and the World Bank Group, the proposed indicators have been calculated and compared with their recommended values in 2014–2016. The assessment of financial potential of the state through its international credit rating (for example, Fitch Ratings, positions in ratings Doing Business, Global Competitiveness Index, Index of Economic Freedom and Corruption Perceptions Index 2010–2016 has not been left without attention.

Financial System of Malaysia: the Concept of Financial Dispute

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Evgenia E. Frolova

2017-01-01

Full Text Available Purpose: the article examines the main problems associated the new regulatory acts of Malaysia – the Financial Services Act of 2013 and the Islamic Financial Services Act of 2013; The characteristics of the legal status of the "Ombudsman for financial services" are listed, types of financial disputes subject to settlement under the "financial ombudsman scheme" are listed, parties to the financial dispute are identified. To achieve this goal, the article must solve the following tasks: to determine whether there are institutions in Malaysia that provide services for resolving financial disputes; to investigate the main problems associated with the definition of the concept and types of financial dispute, the conditions for the transfer of a financial dispute to the competent authority. Methods: this article is based on an interdisciplinary concept of research, which allowed to distinguish the distinctive features of the legal regulation of the settlement of financial disputes in Malaysia. Results: according to the provisions of the new laws of Malaysia, namely the Financial Services Act of 2013 and the Islamic Financial Services Act of 2013, a financial dispute should be understood as a dispute, to which the parties are a financial consumer and a financial service provider provider. Financial disputes include disputes in the field of insurance and Islamic insurance, as well as disputes over bank cards, bank accounts, ATMs, Internet banking, mobile banking, and others. The main body for the settlement of financial disputes is the Financial Ombudsman. The competence of the financial ombudsman is limited by the amount of the claim of 250,000 ringgit (about 4.5 million rubles, under insurance claims – 10,000 ringgit, in the field of unauthorized transactions – 25,000 ringgit. The procedure for resolving a financial dispute, which in Malaysia is referred to as the "scheme of a financial ombudsman", is established by the Central Bank of Malaysia

IDBA-UD: a de novo assembler for single-cell and metagenomic sequencing data with highly uneven depth.

Science.gov (United States)

Peng, Yu; Leung, Henry C M; Yiu, S M; Chin, Francis Y L

2012-06-01

Next-generation sequencing allows us to sequence reads from a microbial environment using single-cell sequencing or metagenomic sequencing technologies. However, both technologies suffer from the problem that sequencing depth of different regions of a genome or genomes from different species are highly uneven. Most existing genome assemblers usually have an assumption that sequencing depths are even. These assemblers fail to construct correct long contigs. We introduce the IDBA-UD algorithm that is based on the de Bruijn graph approach for assembling reads from single-cell sequencing or metagenomic sequencing technologies with uneven sequencing depths. Several non-trivial techniques have been employed to tackle the problems. Instead of using a simple threshold, we use multiple depthrelative thresholds to remove erroneous k-mers in both low-depth and high-depth regions. The technique of local assembly with paired-end information is used to solve the branch problem of low-depth short repeat regions. To speed up the process, an error correction step is conducted to correct reads of high-depth regions that can be aligned to highconfident contigs. Comparison of the performances of IDBA-UD and existing assemblers (Velvet, Velvet-SC, SOAPdenovo and Meta-IDBA) for different datasets, shows that IDBA-UD can reconstruct longer contigs with higher accuracy. The IDBA-UD toolkit is available at our website http://www.cs.hku.hk/~alse/idba_ud

A method for the estimation of the significance of cross-correlations in unevenly sampled red-noise time series

Science.gov (United States)

Max-Moerbeck, W.; Richards, J. L.; Hovatta, T.; Pavlidou, V.; Pearson, T. J.; Readhead, A. C. S.

2014-11-01

We present a practical implementation of a Monte Carlo method to estimate the significance of cross-correlations in unevenly sampled time series of data, whose statistical properties are modelled with a simple power-law power spectral density. This implementation builds on published methods; we introduce a number of improvements in the normalization of the cross-correlation function estimate and a bootstrap method for estimating the significance of the cross-correlations. A closely related matter is the estimation of a model for the light curves, which is critical for the significance estimates. We present a graphical and quantitative demonstration that uses simulations to show how common it is to get high cross-correlations for unrelated light curves with steep power spectral densities. This demonstration highlights the dangers of interpreting them as signs of a physical connection. We show that by using interpolation and the Hanning sampling window function we are able to reduce the effects of red-noise leakage and to recover steep simple power-law power spectral densities. We also introduce the use of a Neyman construction for the estimation of the errors in the power-law index of the power spectral density. This method provides a consistent way to estimate the significance of cross-correlations in unevenly sampled time series of data.

The Usefulness of Financial Statements in Making Financial Diagnosis

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Mitica Pepi

2016-01-01

Full Text Available Our research aims to develop an analysis of the usefulness of financial statements and financial investment in making the diagnosis. Financial analysis is by definition an activity that performance condition is diagnosed entity of the financial year. Financial analysis shall be determined by strengths and weaknesses of financial management based on which will underpin future strategy of the entity to maintain and develop it into a competitive environment. Results of financial analysis depends on the quality, accuracy, relevance and effectiveness of economic information collected and processed. The primary sources of information for financial analysis are the financial statements, which are considered as raw material in the analysis.

Current Transformations of the Eurozone Financial and Institutional Space

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Kornіvska Valerіa O.

2016-08-01

Full Text Available The article presents the results of studying the processes of reforming the financial and institutional space of the eurozone, which in the long run creates the foundation for basic changes, which will result in not just a postcrisis “restart” of the system of financial institutions, but the creation of new mechanisms of liquidity circulation and in view of this the restructuring of the current model of investment process from mainly the banking into the market (stock one. On the basis of the analysis of the credit cooperation between banking institutions of the eurozone and the real sector there made conclusions about the limited effectiveness of the current model of investment support due to the inability of the dominant financial institutions (banks to enable economic recovery under conditions of the gap between the complementary interaction of banking institutions and the real sector of the economy. The paper justifies that the gap between the complementarity of the banking system and the real sector emerged also in connection with the formation of the negative in the general economic context complementarity of the state and the banking sector, which greatly distorts the competitive foundations of the European financial and institutional space, contributes to the banking lobby, hinders the process of reforming the banking space, which will be of limited effectiveness in the future

Ethno-Racial Variation in Recovery From Severe Mental Illness: A Qualitative Comparison.

Science.gov (United States)

Whitley, Rob

2016-06-01

Purpose-driven studies examining the relationship between ethnicity, culture, and recovery are absent from the empirical literature. As such, the overall aim of this study was to examine ethno-racial variations in recovery perspectives. Specific objectives consist of comparing and contrasting ethno-racial variations in 1) definitions of recovery, 2) barriers to recovery, and 3) facilitators of recovery. We recruited people with severe mental illness from 2 broad ethno-racial groups (Caribbean-Canadian and Euro-Canadian) to partake in a qualitative interview on recovery (n = 47). Participants were asked to give their own definitions of recovery, as well as self-perceived barriers and facilitators. Interview transcripts were then subjected to thematic analysis. We compared and contrasted the distribution and salience of emerging themes between the Euro-Canadian and Caribbean-Canadian participants. Recovery was consistently defined as a gradual process involving progress in key life domains including employment, social engagement, and community participation by both groups. This was underpinned by a growing future orientation. Stigma, financial strain, and psychiatric hospitalization were considered major barriers to recovery in both groups. Participants from both groups generally considered stated definitions of recovery to be simultaneous facilitators of recovery-employment and social engagement being the most frequently mentioned. God and religion were key facilitators for the Caribbean-Canadian group but not for Euro-Canadians. Definitions, barriers, and facilitators to recovery were generally shared among our sample, regardless of ethno-racial status, with the exception of God and religion. © The Author(s) 2016.

Does financial education impact financial literacy and financial behavior, and if so, when?

OpenAIRE

Kaiser, Tim; Menkhoff, Lukas

2017-01-01

A meta-analysis of 126 impact evaluation studies finds that financial education significantly impacts financial behavior and, to an even larger extent, financial literacy. These results also hold for the subsample of randomized experiments (RCTs). However, intervention impacts are highly heterogeneous: financial education is less effective for low-income clients as well as in low- and lowe...

Measuring financial performance: an overview of financial statements.

Science.gov (United States)

Dalsted, N L

1995-07-01

Financial management has emerged as a critical component in the long-term viability of today's ranches and farms. Proper and timely financial reporting and analysis of financial statements are valuable tools that agricultural producers can use to monitor, coordinate, and plan their operational production and marketing schemes and strategies. A side note to preparation of financial statements. With the concerns over lender liability issues associated with statements either assisted with or prepared by a lending officer, agricultural producers will be responsible for preparing their own statements. The lending institutions may prepare their own statements in their assessment of the financial condition of a business and or individual, but, ultimately, the responsibility of financial statements is the borrower's. Some of the material presented in this article provides important input for use in such analytical programs as the National Cattlemen's Association, Integrated Resource Committees, and Standard Performance Analysis (SPA). SPA techniques and associated software have been or currently are under development for cow-calf, stocker, seedstock, and sheep enterprises. Critical to the analysis is having complete and correct financial statements. These analytical programs build on the financial statements. These analytical programs build on the financial statements as recommended by the FFSTF. Proper financial reporting is critical not only to a SPA assessment but also to the overall financial management of today's farms and ranches. Recognizing the importance of financial management in production agriculture is not enough, taking a proactive stance in one's financial plan is paramount to success. Failure to do so will only enhance the exit rates of producers from production agriculture.

Financial Stress Indices and Financial Crises

NARCIS (Netherlands)

Vermeulen, Robert; Hoeberichts, Marco; Vasicek, Borek; Zigraiova, Diana; Smidkova, Katerina; de Haan, Jakob

This paper develops a Financial Stress Index (FSI) for 28 OECD countries and examines its relationship to crises using a novel database for financial crises. A stress index measures the current state of stress in the financial system and summarizes it in a single statistic. Our results suggest that

Financial Analysis of the Financial Institutions Sector in Kosovo

Directory of Open Access Journals (Sweden)

Vlora Prenaj

2015-12-01

Full Text Available Paper work “Financial analysis of the financial institutions sector in Kosovo” treats financial sector in Kosovo. Paper work contains the current position of the economy, economic prospects and macroeconomic projections for the financial sector in Kosovo, future potential and possibilities of financial sector in Kosovo. The main goal of this research is financial analysis of Kosovo financial institutions sector - overview of key indicators. This research evaluates the performances of commercial bank’s profitability, which have operated in the market during the period 2006-2012. This research is conducted through financial analysis coefficients: Return on Equity, Return on assets and Cost to Income. Test t-Student is used to analyze the profitability for the period 2006/2007 before the financial crisis and the period 2011/2012 after financial crisis.

The potential use of natural resources in urban informal settlements as substitutes for financial capital during flooding emergencies

Science.gov (United States)

Dalu, Mwazvita T. B.; Shackleton, Charlie M.

2018-04-01

Rapid and widespread land cover change and the subsequent loss of the buffering capacity provided by healthy ecosystems against natural hazards has resulted in increased vulnerability to natural hazards. There is an insufficient understanding of the natural resources contribution to the resilience of poor urban communities living in informal settlements and the financial implications thereof. Thus, household strategies used to recover from the October 2012 flood shock were investigated within the informal settlements of three small South African towns using questionnaires. Within the vulnerability paradigm and the sustainable livelihood framework, the study also quantified and evaluated the relative contribution of natural resources to recovery strategies and the impacts on household financial capital. We found that natural resources contributed up to 70% to recovery of households from the flood shock, most of this being to reconstruct housing structures after the flood. Factors such as household head education level, household income, kinship level, the extent of property damage and the cost associated with property rehabilitation significantly influenced the uptake of natural resources in recovery from floods, and this was variable among settlements and towns. The main findings showed that natural resources reduced household vulnerability of urban informal settlements by providing an emergency-net function that substitutes financial capital. Their inclusion in disaster management plans and responses has the potential to contribute to the sustainable livelihoods of the urban poor in the Eastern Cape, South Africa.

BANK MANAGEMENT STRATEGIES REGARDING THE ATTRACTION OF POPULATION SAVINGS BASED ON THE "FINANCIAL SITUATION OF THE ROMANIAN HOUSEHOLDS" POLL

OpenAIRE

NICULESCU-ARON Ileana Gabriela; MIHAESCU Constanta; CAPLESCU Raluca

2012-01-01

Financing economic recovery is mainly based on the household sector savings, thus anti-crisis governmental programmes should be based on rigorous knowledge regarding saving and consumption behaviours. Selective studies allow for obtaining quick and pertinent results regarding these behaviours. The present study is based on a poll designed for assessing the level of financial education and financial situation of the population, and their impact on savings and preference for various saving inst...

European Union; Publication of Financial Sector Assessment Program Documentation—Technical Note on Progress with Bank Restructuring and Resolution in Europe

OpenAIRE

International Monetary Fund

2013-01-01

This article is an analysis on the restructuring banking system of the European Union. The global financial crisis created the need to restructure by immensely reflecting weaknesses in the public, households, corporate, and other financial sectors. The restructuring includes the strengthening of bank resolution tools, the activation of nonperforming loans, the maintenance of macrofinancial framework, recovery of market access, and so on. The Executive Board recommends this transition of the E...

Emergence Corporate Financial Distressin Emerging Market: Empirical Evidence from Indonesia Stock Exchange(IDX 2004-2008

Directory of Open Access Journals (Sweden)

Koes Pranowo

2011-11-01

Full Text Available Normal 0 false false false MicrosoftInternetExplorer4 st1\\:*{behavior:url(#ieooui } /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} Financial recovery is the most difficult in financial management. Therefore, this is important to study how a company in financially-distress can survive to rise up to a healthy financial condition (emergence financial distress. The research consists of 200 non financial companies which are listed on Indonesia Stock Exchange (IDX for the period of 2004-2008. This study focuses on management of working capital. How a company fulfill its current liabilities, and its sources in current assets which shall be cashed at the short term period. By using Multinomial logit, we analyzed the probability a financially-distress company rise up to emergence financial distress or stay of the status of financial distress and what are financial indicators affect to a company in the status of Non Financial Distress tend to Financial Distress. Thus, the important thing is to determine financial ratios which can be an indicator to determine of emergence financial distress. We find a positive relationship between Profit, efficiency and emergence financial distress and a negative relationship between leverage and emergence financial distress.   Keywords: Emergence Financial Distress, Indonesia Stock Exchange (IDX, Multinomial Logit JEL Classification Codes: G 3

Financial Economy and Financial System: Basis of Structural Interconnection

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Khorosheva Olena I.

2014-02-01

Full Text Available The goal of the article lies in identification of grounds of interconnection of the financial economy and financial system. The study was conducted with consideration of main provisions of the theory of finance and concept of financial economy, which is a set of means used in the process of reproduction of finance by their owner for formation and / or maintenance of the own system of values in the viable state. For the first time ever the structure of the financial system is identified as an aggregate of financial economies and financial market. The article justifies a necessity of expansion of boundaries of perception of the state financial economy, which is offered to include public financial economy of the state level and the set of financial economies of the state as a subject of economic activity. Such an approach forms a base for justification of the synthesis of participation of the state in financial relations as the owner and as the basic macro-economic regulator. Prospects of further study in this direction are: development of classification of financial economies; revelation of specific features of impact of shadow finance on development of the national financial economy; and assessment of possibilities of inclusion of structured financial products into the system of values of financial economies in Ukraine.

The Financial and Economic Crisis and Developing Countries

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Bruno Gurtner

2010-03-01

Full Text Available Developing countries were hit hard by the financial and economic crisis, although the impact was somewhat delayed. Every country had different challenges to master. The closer the developing countries are interconnected with the world economy, the crasser the effects. And the incipient recovery that is becoming noticeable is, for the time being, restricted to only a few countries and regions.The crisis was transmitted primarily by trade and financial flows forcing millions back into poverty. Attainment of the Millennium Development Goals is seriously jeopardised in many countries. Many developing countries did not and do not have the resources to stimulate the economy and protect their socially disadvantaged populations to the same extent as the industrialised countries. However, many countries have made considerable efforts to mitigate the effects. Developing countries have also increased their cooperation with one another and are urgently demanding a greater voice in global economic affairs.The industrialised countries are for the most part more concerned with their own problems. Their readiness to provide more extensive aid is limited. They are under pressure from the international institutions to relax their previous dominance in favour of the increasingly strong emerging countries. A shift in power and influence that was already noticeable before the financial crisis is deepening.

East Asian Financial Cycles: Asian vs. Global Financial Crises

OpenAIRE

Akira Kohsaka; Jun-ichi Shinkai

2014-01-01

We examine the role of financial shocks in business cycles in general and in financial crises in particular in East Asia (Indonesia, Korea, Malaysia and Thailand) since the 1990s. Estimating a Financial Conditions Index, we found that financial shocks explain most of business downturns in all the economies in the Asian Financial Crisis (AFC) in 1997-98, but that the effects of financial shocks are diverse across economies in the Global Financial Crisis (GFC) in 2008-09. In the GFC, the financ...

Corporate financial restructuring in Asia: implications for financial stability

OpenAIRE

Michael Pomerleano

2007-01-01

Corporate financial fragility preceding the Asian financial crisis heightened vulnerabilities. Many countries in the region undertook significant corporate financial restructuring after the crisis, with some countries bouncing back much faster than others. These sounder corporate financial practices bode well for financial stability.

FINANCIAL INFORMATION, EFFECTS OF FINANCIAL INFORMATION ON ECONOMIC DECISION

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TAK ISA

2010-12-01

Full Text Available Financial information has, indisputably, an important effect in economics. To form an effective capital market, financial information must be reliable and accurate. Misleading financial information always has a negative impact on economic decision taken by users. It is known that financial information as the cornerstone of financial markets, can improve economic performance in several ways. Nowadays we are facing economic crisis due to irregularities of presentation of financial statements to users. Misunderstandings cause economic recession. Detection of fraudulent financial information, is an important issue facing the auditing profession. Currently, bankruptcy of companies around the world, leaves millions of people without jobs, this is caused by financial information which is manipulated by companies. The purpose of this paper is to analyze the effects of errors and manipulation committed in the financial information sector on the real economy. Also one of the purposes of this paper is to analyze error and fraud in financial statements how it effects the real economy and the reasons for committing fraud in financial statements. Also, several suggestions are included in this study about actions that can be taken to prevent errors and manipulation in financial information.

Financial Liberalization and Financial Fragility

OpenAIRE

Enrica Detragiache; Asli Demirgüç-Kunt

1998-01-01

The authors study the empirical relationship between banking crises and financial liberalization using a panel of data for 53 countries for 1980-95. They find that banking crises are more likely to occur in liberalized financial systems. But financial liberalization's impact on a fragile banking sector is weaker where the institutional environment is strong--especially where there is respect for the rule of law, a low level of corruption, and good contract enforcement. They examine evidence o...

Uneven adaptive capacity among fishers in a sea of change.

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Joshua S Stoll

Full Text Available Fishers worldwide operate in an environment of uncertainty and constant change. Their ability to manage risk associated with such uncertainty and subsequently adapt to change is largely a function of individual circumstances, including their access to different fisheries. However, explicit attention to the heterogeneity of fishers' connections to fisheries at the level of the individual has been largely ignored. We illustrate the ubiquitous nature of these connections by constructing a typology of commercial fishers in the state of Maine based on the different fisheries that fishers rely on to sustain their livelihoods and find that there are over 600 combinations. We evaluate the adaptive potential of each strategy, using a set of attributes identified by fisheries experts in the state, and find that only 12% of fishers can be classified as being well positioned to adapt in the face of changing socioeconomic and ecological conditions. Sensitivity to the uneven and heterogeneous capacity of fishers to manage risk and adapt to change is critical to devising effective management strategies that broadly support fishers. This will require greater attention to the social-ecological connectivity of fishers across different jurisdictions.

RURAL TOURISM IN SUCEAVA COUNTY BETWEEN 1996-2010: EVOLUTION OF ACCOMMODATION CAPACITY AND TOURISTIC FLOW

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Gheorghe CHEIA

2012-06-01

Full Text Available Tourism activity has grown faster and complex in recent decades at global and national levels. Among its forms, rural tourism has been given particular attention in the recent years due to his access to a growing number of tourist arrivals following the framework and specific "climate", particularly where consumers are introduced. Suceava County has an impressive rural tourism potential, with a recovery and uneven development between 1996-2010. Tourism phenomenon is sensitive to many factors (natural, political, financial, population characteristics, such as rural tourism in Suceava. In the case of the indices statistically analyzed in this paper, the number of accommodation units, the number of Romanian and foreign tourists, the processing and analysis was performed using t test for independent samples.

Disclosure of Non-Financial Information: Relevant to Financial Analysts?

OpenAIRE

ORENS, Raf; LYBAERT, Nadine

2013-01-01

The decline in the relevance of financial statement information to value firms leads to calls from organizational stakeholders to convey non-financial information in order to be able to judge firms' financial performance and value. This literature review aims to report extant literature findings on the use of corporate non-financial information by sell-side financial analysts, the information intermediaries between corporate management and investors. Prior studies highlight that financial ana...

Financial globalisation uncertainty/instability is good for financial development

OpenAIRE

Asongu, Simplice A.; Koomson, Isaac; Tchamyou, Vanessa S.

2015-01-01

Purpose – This study assesses the effect of time-dynamic financial globalisation uncertainty on financial development in 53 African countries for the period 2000-2011. Design/methodology/approach – Financial globalisation uncertainty is estimated as time-dynamic to capture business cycle disturbances while all dimensions identified by the Financial Development and Structure Database of the World Bank are employed, namely: financial depth (money supply and liquid liabilities), financial sy...

Cost recovery of NGO primary health care facilities: a case study in Bangladesh

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Alam Khurshid

2010-06-01

Full Text Available Abstract Background Little is known about the cost recovery of primary health care facilities in Bangladesh. This study estimated the cost recovery of a primary health care facility run by Building Resources Across Community (BRAC, a large NGO in Bangladesh, for the period of July 2004 - June 2005. This health facility is one of the seven upgraded BRAC facilities providing emergency obstetric care and is typical of the government and private primary health care facilities in Bangladesh. Given the current maternal and child mortality in Bangladesh and the challenges to addressing health-related Millennium Development Goal (MDG targets the financial sustainability of such facilities is crucial. Methods The study was designed as a case study covering a single facility. The methodology was based on the 'ingredient approach' using the allocation techniques by inpatient and outpatient services. Cost recovery of the facility was estimated from the provider's perspective. The value of capital items was annualized using 5% discount rate and its market price of 2004 (replacement value. Sensitivity analysis was done using 3% discount rate. Results The cost recovery ratio of the BRAC primary care facility was 59%, and if excluding all capital costs, it increased to 72%. Of the total costs, 32% was for personnel while drugs absorbed 18%. Capital items were17% of total costs while operational cost absorbed 12%. Three-quarters of the total cost was variable costs. Inpatient services contributed 74% of total revenue in exchange of 10% of total utilization. An average cost per patient was US$ 10 while it was US$ 67 for inpatient and US$ 4 for outpatient. Conclusion The cost recovery of this NGO primary care facility is important for increasing its financial sustainability and decreasing donor dependency, and achieving universal health coverage in a developing country setting. However, for improving the cost recovery of the health facility, it needs to increase

College Students and Financial Distress: Exploring Debt, Financial Satisfaction, and Financial Anxiety

Science.gov (United States)

Archuleta, Kristy L.; Dale, Anita; Spann, Scott M.

2013-01-01

The impact of financial concerns on overall mental health has become a popular topic among researchers and practitioners. In this exploratory study, possible associations of financial anxiety were explored using a sample of 180 college students who sought services at a university peer financial counseling center in a Midwestern state. Of…

DEVELOPMENT OF THE US SECURITIES MARKET IN THE 1940-S: THE ROAD TO FINANCIAL LEADERSHIP

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S. Z. Moshenskyi

2016-12-01

Full Text Available The Second World War radically changed not only political, but also financial landscape of the world. After the War ended the United States became the main source of capital. The American financial market and the stock market determined all the trends in the credit and financial sphere of other countries. In the 1930-s the US economy (and the stock market were stagnant during the «Great Depression». Industry began activating when the war intensified government military orders, and the stock market began reviving after the emission of bonds of military loans. When the war was over the United States funded the postwar recovery in Japan, Germany and other Western European countries. By the Bretton Woods conference in 1944 the dollar has become a major international currency, and it was a financial basis for US influence in the second half of the twentieth century, often called Pax Americana, that is «American world».

Physical Activity and Relaxation During and After Work are Independently Associated With Need for Recovery

NARCIS (Netherlands)

Coffeng, J.K.; Sluijs, E.M. van; Hendriksen, I.J.M.; Mechelen, W. van; Boot, C.R.L.

2015-01-01

BACKGROUND:To study the associations between during and after work hours physical activity and relaxation and need for recovery (NFR) in office workers at a financial service provider. METHODS:Self-reported baseline data of 412 employees (mean age 41.3 years; 39.6% women) were used. Linear

Evaluating a Financial Assessment Tool: The Financial Checkup

OpenAIRE

Johnson, Alena C.

2001-01-01

The purpose of this study was to evaluate The Financial Checkup program. The program consisted of a booklet called The Financial Checkup and a 1-1 y, hour workshop explaining the booklet. The booklet helps individuals evaluate their financial situation on an annual basis. It includes a net worth statement, an income and expense statement, financial ratios, a revolving savings worksheet, a retirement worksheet, a life insurance worksheet, a financial goals worksheet, and a budget worksheet. Th...

Financial Coaching's Potential for Enhancing Family Financial Security

Science.gov (United States)

Collins, J. Michael; Olive, Peggy; O'Rourke, Collin M.

2013-01-01

Financial coaching is an emerging complement to financial education and counseling. As defined in this article, financial coaching is a process whereby participants set goals, commit to taking certain actions by specific dates, and are then held accountable by the coach. In this way, financial coaching is designed to help participants bridge the…

FINANCIAL DEPTH AND FINANCIAL ACCESS IN INDONESIA

OpenAIRE

Sigit Setiawan

2015-01-01

This study is intended to analyze the current levels of financial depth and financial access in Indonesia and to analyze the factors affecting them. The analysis method used was a combination of descriptive quantitative, benchmarking, and literature reviews. The conclusion is that the financial depth in Indonesia has not shown a satisfactory level since it was the lowest, or the second lowest ranked country among the sampled countries. Meanwhile, the financial access in Indonesia is relativel...

Materiality from financial towards non-financial reporting

OpenAIRE

Chiara Mio

2013-01-01

The article aims at discussing the evolution of the concept of materiality in financial and, more specifically, non-financial reporting. Materiality will play a central role in the next years in order for reports to reach conciseness, which is at present one of the main goals both financial and non-financial reporting (in particular Integrated Reporting) aims to achieve. The article reviews the most relevant materiality frameworks and definitions and provides further insights for the advancem...

The cluster is not flat. Uneven impacts of brokerage roles on the innovative performance of firms

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Luís Martínez-Cháfer

2018-01-01

Full Text Available This paper investigates whether and to what extent individual firms improve their innovation from behaving as brokers connecting other actors in the Spanish ceramic tile cluster. The effects of the brokerage roles are analyzed for different innovation levels by means of quantile regressions. Finally, we speculate about the indirect and interactive effects of the distinct individual organization attributes and these benefits. Results show that brokerage activities unevenly influence the broker's innovative performance. In addition, the intensity of the impact varies for different innovation levels and the firm's absorptive capacity moderate the final effect of acting as a broker.

Late Financial Distress Process Stages and Financial Ratios

DEFF Research Database (Denmark)

Sormunen, Nina; Laitinen, Teija

2012-01-01

stage affects the classification ability of single financial ratios and financial distress prediction models in short-term financial distress prediction. The study shows that the auditor's GC task could be supported by paying attention to the financial distress process stage. The implications...... of these findings for auditors and every stakeholder of business firms are considered....

Geochemical Fingerprinting of Coltan Ores by Machine Learning on Uneven Datasets

International Nuclear Information System (INIS)

Savu-Krohn, Christian; Rantitsch, Gerd; Auer, Peter; Melcher, Frank; Graupner, Torsten

2011-01-01

Two modern machine learning techniques, Linear Programming Boosting (LPBoost) and Support Vector Machines (SVMs), are introduced and applied to a geochemical dataset of niobium–tantalum (“coltan”) ores from Central Africa to demonstrate how such information may be used to distinguish ore provenance, i.e., place of origin. The compositional data used include uni- and multivariate outliers and elemental distributions are not described by parametric frequency distribution functions. The “soft margin” techniques of LPBoost and SVMs can be applied to such data. Optimization of their learning parameters results in an average accuracy of up to c. 92%, if spot measurements are assessed to estimate the provenance of ore samples originating from two geographically defined source areas. A parameterized performance measure, together with common methods for its optimization, was evaluated to account for the presence of uneven datasets. Optimization of the classification function threshold improves the performance, as class importance is shifted towards one of those classes. For this dataset, the average performance of the SVMs is significantly better compared to that of LPBoost.

FINANCIAL DEPTH AND FINANCIAL ACCESS IN INDONESIA

OpenAIRE

Sigit Setiawan

2015-01-01

This study is intended to analyse the current levels of financial depth and financial access in Indonesia and to analyse the factors affecting them. The analysis method used was a combination of descriptive quantitative, benchmarking, and literature reviews. The conclusion is that the financial depth in Indonesia has not shown a satisfactory level since it was the lowest, or the second lowest ranked country among the sampled countries. Meanwhile, the financial access in Indonesia is relativel...

Financial Depth and Financial Access in Indonesia

OpenAIRE

Setiawan, Sigit

2015-01-01

This study is intended to analyse the current levels of financial depth and financial access in Indonesia and to analyse the factors affecting them. The analysis method used was a combination of descriptive quantitative, benchmarking, and literature reviews. The conclusion is that the financial depth in Indonesia has not shown a satisfactory level since it was the lowest, or the second lowest ranked country among the sampled countries. Meanwhile, the financial access in Indonesia is relativel...

Physical activity and relaxation during and after work are independently associated with the need for recovery

NARCIS (Netherlands)

Coffeng, J.K.; Sluijs, E.M. van; Hendriksen, I.J.M.; Mechelen, W. van; Boot, C.R.L.

2015-01-01

Background: Research is needed to better understand the associations between during-work and after-work-hours physical activity and relaxation and need for recovery (NFR), so a study of these variables in office workers at a financial service provider was undertaken. Methods: Self-reported baseline

Physical Activity and Relaxation During and After Work are Independently Associated With the Need for Recovery

NARCIS (Netherlands)

Coffeng, J.K.; van Sluijs, E.M.; Hendriksen, I.J.M.; van Mechelen, W.; Boot, C.R.L.

2015-01-01

Background: Research is needed to better understand the associations between during-work and after-work-hours physical activity and relaxation and need for recovery (NFR), so a study of these variables in office workers at a financial service provider was undertaken. Methods: Self-reported baseline

Study on the feasibility of implementing a cost-recovery program

International Nuclear Information System (INIS)

1988-02-01

The AECB does not currently have an adequate legal basis for cost recovery. The use of amendments to the AEC (Atomic Energy Control) Act or Regulations to effect cost recovery would entail too high a risk of successful legal challenge and political complications which could adversely affect the AECB's operational effectiveness. In the time frame envisaged by Treasury Board Secretariat for the AECB to collect fees, it is not practical to amend the AEC Act to make it binding on the Crown, and specifically to authorize the AECB to recover its costs. The only practical approach to providing a sound legal basis for cost recovery is through amendment of the Financial Administration Act. Studies to date have provided a basis to establish options for cost recovery which may be practical, provided that a sound legal basis is established. Studies to date have not provided a basis to evaluate the impact of any of these options on the development, application, and use of atomic energy in Canada, or on the regulatory effectiveness of the AECB. While the principle of cost-recovery has been decided by the Treasury Board, public consultations are needed to evaluate impact and to arrive at a final decision on the extent of cost recovery. Such consultations are required by the government's Regulatory Process Action Plan. Cost recovery is likely to generate a strong negative reaction from the nuclear industry, some of which may affect the ability of the AECB to implement an effective regulatory program

Metasurface base on uneven layered fractal elements for ultra-wideband RCS reduction

Science.gov (United States)

Su, Jianxun; Cui, Yueyang; Li, Zengrui; Yang, Yaoqing Lamar; Che, Yongxing; Yin, Hongcheng

2018-03-01

A novel metasurface based on uneven layered fractal elements is designed and fabricated for ultra-wideband radar cross section (RCS) reduction in this paper. The proposed metasurface consists of two fractal subwavelength elements with different layer thickness. The reflection phase difference of 180° (±37°) between two unit cells covers an ultra-wide frequency range. Ultra-wideband RCS reduction results from the phase cancellation between two local waves produced by these two unit cells. The diffuse scattering of electromagnetic (EM) waves is caused by the randomized phase distribution, leading to a low monostatic and bistatic RCS simultaneously. This metasurface can achieve -10dB RCS reduction in an ultra-wide frequency range from 6.6 to 23.9 GHz with a ratio bandwidth (fH/fL) of 3.62:1 under normal incidences for both x- and y-polarized waves. Both the simulation and the measurement results are consistent to verify this excellent RCS reduction performance of the proposed metasurface.

Adolescents' Financial Literacy: The Role of Financial Socialization Agents, Financial Experiences, and Money Attitudes in Shaping Financial Literacy among South Korean Youth

Science.gov (United States)

Sohn, Sang-Hee; Joo, So-Hyun; Grable, John E.; Lee, Seonglim; Kim, Minjeung

2012-01-01

The purpose of this study was to test the relationships between financial socialization agents, financial experiences, money attitudes, demographic characteristics, and the financial literacy of Korean adolescents. Using the 2006 Korean National Financial Literacy Test Survey for Adolescents (N = 1185), a series of regression analyses were…

Financial Ratios and Perceived Household Financial Satisfaction

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Scott Garrett

2013-08-01

Full Text Available This paper tests the relative strength of three objective measures of financial health (using the solvency, liquidity, and investment asset ratio in predicting a household’s subjective feeling of current financial satisfaction. Using a sample of 6,923 respondents in the 2008 Health and Retirement Study this paper presents evidence of two main findings: 1 the solvency ratio is most strongly associated with financial satisfaction levels based on a cross-sectional design and 2 changes in the investment asset ratio are most strongly associated with changes in financial satisfaction over time.

The Analysis of Liquidity and Receivables as a Component of Corporate Financial Management

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Feshchenko Oleh Р.

2017-08-01

Full Text Available The article is aimed at the analysis of liquidity and receivables of corporations and substantiation of proposals as to its improvement as part of the management of financial status of companies. The instruments, methodical techniques, tasks, and stages of managing the accounts receivable were generalized. It has been substantiated that, at the current stage of development of Ukraine’s economy, it appears not sufficient to apply the coefficient analysis only, there is a need to supplement it by the regression analysis of the panel data, allowing for the temporal and spatial characteristics of the sample. The development of additional indicators for the monitoring of receivables can be suggested as recommendations for the studied corporations in order to reduce future risks of non-recovery and financial deterioration. Prospect for further research is an in-depth regression analysis of the panel data in terms of the measures to refinance receivables and the financial dynamics of companies.

THE FINANCIAL SECTOR IN THE FINANCIAL SYSTEM ECONOMY: THEORETICAL ASPECTS

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Yu. Kovalenko

2015-06-01

Full Text Available Broad and narrow approaches of the financial system are obtained. The difference between the financial system and the financial sector (the fi-nancial corporations sector is shown. Organizational and institutional matrix of the financial system of the economy is proposed. Key positions of institutional sectors classification of Ukraine’s economy are analyzed, as well as the System of National Accounts with respect to the financial sec-tor of corporations. The structure of the sector of financial corporations in Ukraine is defined.

Strengthening financial management, providing financial safeguard mechanism

International Nuclear Information System (INIS)

Sun Wumei

2010-01-01

This article reviewed the history of Zhong He Shanxi Uranium Enrichment Company, summarizing an efficient and systematical financial management method during both construction period and operational period of the company. It related to fundamental financial management structure building, integrated budgeting, fund management, cost management, asset management, tax planning and HR management. of financial staffs. (author)

Financial Stress, Financial Literacy, Counselling and the Risk of Homelessness

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Adam Steen

2013-09-01

Full Text Available Poor financial literacy may lead to poor life choices. These life choices can create or contribute to financial stress with adverse consequences - not the least of which may be homelessness. These issues are relatively well understood, but there is limited research on the link between financial stress, financial literacy and counselling, and homelessness. Specifically, there has been little research on how improved financial literacy and appropriate financial counselling might help to prevent homelessness. This paper synthesises existing literature on this topic and considers these issues using the ABCX family stress model of Hill (1958 using data from an Australian program aimed at alleviating family homelessness, the Home Advice Program. We provide evidence that suggests that case management and support which incorporates financial counselling and financial literacy can assist in moderating the impact of financial stress and help those at risk of homelessness. The findings have implications for public policy in the areas of financial education, consumer finance, and social services provision.

Resource recovery and reuse as an incentive for a more viable sanitation service chain

Directory of Open Access Journals (Sweden)

Krishna C. Rao

2017-06-01

Full Text Available Recovering nutrients, water and energy from domestic waste streams, including wastewater and faecal sludge, is slowly gaining momentum in low-income countries. Resource recovery and reuse (RRR offers value beyond environmental benefits through cost recovery. An expected game changer in sanitation service provision is a business model where benefits accrued via RRR can support upstream sanitation services despite the multitude of private and public stakeholders involved from waste collection to treatment. This paper shows options of how resource recovery and reuse can be an incentive for the sustainable sanitation service chain, by recovering costs where revenue can feed back internally or using generated revenues from reuse to fill financial gaps across the service chain to complement other supporting mechanisms for making waste management more attractive.

Pre-study on cementation processes in bentonite buffer under uneven saturation and temperature gradient

International Nuclear Information System (INIS)

Jaervinen, Joonas; Muurinen, Arto; Tanhua-Tyrkkoe, Merja

2012-01-01

Document available in extended abstract form only. Under final disposal conditions the uneven and slow saturation together with heat from the canister can lead to a situation where water vaporizes in certain areas in bentonite. The evaporation of ion rich water leads to enrichment of ions and precipitation of the components which may e.g. cement montmorillonite layers together and cause some changes in the bentonite properties. To study the cementation in bentonite buffer under uneven and slow saturation conditions the experimental setup was pre-modelled, constructed and tested. The experimental setups consist of a cylindrical cell (d:100 mm and h:100 mm), adsorption cells, heating system, hydration system, cooling system, sensors and a data acquisition system. A schematic drawing of the experimental equipment is presented in Figure 1. In the cell the hydration end of the bentonite was covered only partly by the sinter and the access of water to bentonite was thus limited. The cell was also equipped with holes in the upper part of the cylinder to allow the water vapour to escape from the cell. The released water vapour is collected on an adsorption material in the adsorption cells. Thermal and hydrological properties of the experimental system were pre-modelled in 2D by using TOUGH2, version 2.0. The aim of the model was to see if the planned experimental set-up leads to the wanted conditions, within reasonable time and to find justifiable parameters for experimental setup. An eleven months long pre-experiment was carried out to get preliminary understanding how the experimental arrangement works. After the experiment the cell was dismantled and water content, bulk density, CEC, exchangeable cations, poorly crystalline iron oxides and silicates, chloride, sulphate and carbonate were analysed and pH measured. The low water content and high chloride concentration next to the heater indicated movement of chloride ions from the hydration surface towards the heater and

Financial compensation and vocational recovery: a prospective study of secondary care neck and back patients

DEFF Research Database (Denmark)

Hestbæk, Lise; Rasmussen, C; Leboeuf-Yde, C

2009-01-01

Financial compensation has been shown to be a negative prognostic factor for pain and disability in patients with neck or low back pain. It is unclear whether this association is causal and to what extent it hampers return to work. The objective of this study was to assess the direct influence of...

Lawrence Berkeley National Laboratory 2015 Annual Financial Report

Energy Technology Data Exchange (ETDEWEB)

Williams, Kim, P

2017-08-11

FY2015 financial results reflect a year of significant scientific, operational and financial achievement for Lawrence Berkeley National Laboratory. Complementing many scientific accomplishments, Berkeley Lab completed construction of four new research facilities: the General Purpose Laboratory, Chu Hall, Wang Hall and the Flexlab Building Efficiency Testbed. These state-of-the-art facilities allow for program growth and enhanced collaboration, in part by enabling programs to return to the Lab’s Hill Campus from offsite locations. Detailed planning began for the new Integrative Genomics Building (IGB) that will house another major program currently located offsite. Existing site infrastructure was another key focus area. The Lab prioritized and increased investments in deferred maintenance in alignment with the Berkeley Lab Infrastructure Plan, which was developed under the leadership of the DOE Office of Science. With the expiration of American Recovery and Reinvestment Act (ARRA) funds, we completed the close-out of all of our 134 ARRA projects, recording total costs of $331M over the FY2009-2015 period. Download the report to read more.

39 CFR 233.5 - Requesting financial records from a financial institution.

Science.gov (United States)

2010-07-01

... INSPECTION SERVICE AUTHORITY § 233.5 Requesting financial records from a financial institution. (a... Department of the U.S. Postal Service to request financial records from a financial institution pursuant to... authorized to request financial records of any customer from a financial institution pursuant to a formal...

TEN YEARS AFTER THE GLOBAL CRISES - EXPORTS RECOVERY AT REGIONAL LEVEL IN ROMANIA

Directory of Open Access Journals (Sweden)

Artur-Emilian SIMION

2018-05-01

Full Text Available After ten years of the global financial crises, which peak in Romania was 2009, the negative impact on exports and imports of Romania are still in place for some Romanian counties. The scale of the impact highlights the strong connections between the national economy and the economy of the other EU countries, which have suffered during the crisis because of falling demand for imports from Romania. The good export recovery is not a favorable thing for those counties who focused theirs exports on primary products, products based on natural resources and low-technology products. These exports lead to the decrease in foreign exchange earnings and implicitly the potential of endogenous growth at the county level, mainly due to deteriorating terms of trade. The paper is focused on Romanian exports recovery analysis, taking into account the impact of world financial crisis, which started in Romania in 2009. A special attention is paid to the recovery of exports at the regional level and to the importance of the structural changes of Romanian export, occurred in 2017 compared to 2008. Also, in this article are analyzed the concentration of exports at county level, the main partners on export, the share of the first 10 partners and evolution of export per capita at the counties level. The trade balance is used to classify the counties in: net exporters (export>import and net importers (import>export.

Financial Statements Analysis

OpenAIRE

Tănase Alin-Eliodor

2014-01-01

This article focuses on analyzing of a consolidated financial statements of a hypothetically SME. The interpretation of the financial position and performances is based on the more than 40 financial key ratios computed by using financial data from consolidated income statement, consolidated financial position and cash flow. However additional data from notes to financial statements are provided.

Nonlinear Fluctuation Behavior of Financial Time Series Model by Statistical Physics System

Directory of Open Access Journals (Sweden)

Wuyang Cheng

2014-01-01

Full Text Available We develop a random financial time series model of stock market by one of statistical physics systems, the stochastic contact interacting system. Contact process is a continuous time Markov process; one interpretation of this model is as a model for the spread of an infection, where the epidemic spreading mimics the interplay of local infections and recovery of individuals. From this financial model, we study the statistical behaviors of return time series, and the corresponding behaviors of returns for Shanghai Stock Exchange Composite Index (SSECI and Hang Seng Index (HSI are also comparatively studied. Further, we investigate the Zipf distribution and multifractal phenomenon of returns and price changes. Zipf analysis and MF-DFA analysis are applied to investigate the natures of fluctuations for the stock market.

The Recovery Framework in the BRRD and its Effectiveness, NORDIC & EUROPEAN COMPANY LAW Working Paper Series No. 15‐04

DEFF Research Database (Denmark)

Hu, Chenchen

2015-01-01

The EU has made great endeavors in establishing a bank resolution procedure after the global financial crisis (GFC). In April 2014 the directive on establishing a framework for the recovery and resolution of credit institutions and investment firms (referred to as The Bank Recovery and Resolution...... recovery framework, including the intra-group support, recovery and resolution planning, and the early intervention in the wake of bank failures, such as Lehman Brothers fall. It aims at assessing to which extent the new recovery framework enhances the resilience of banks and facilitates orderly resolution...... Directive, the BRRD) was finally adopted, which set up the basic framework for the resolution regime in the EU. The BRRD includes a three-step resolution framework: recovery and resolution planning, the early intervention, and the resolution. This article analyses the effectiveness of the pre-resolution...

The Dutch Crisis and Recovery Act: Economic Recovery and Legal Crisis?

Directory of Open Access Journals (Sweden)

J Verschuuren

2010-12-01

Full Text Available In the Netherlands, the 2010 Crisis and Recovery Act aims at speeding up decisionmaking on a wide variety of activities, hoping that after the financial and economic crisis has passed, development projects can immediately be carried out without any delay caused by legal procedures in court or elsewhere. The Act meets great criticism for many reasons: it allegedly curtails citizen's procedural rights because it focuses almost exclusively on environmental standards as "obstructing" standards that need to be removed, and it infringes international and European Union law. In this note, the legal critique on the Act is analysed. The conclusion is that the sense of urgency surrounding the design of legal measures to address the economic crisis enables the legislature to implement innovations and long-time pending amendments to existing legislation. Most issues have however not been fully or properly considered. Many legal questions will arise when implementing the Act, which will retard rather than expedite projects. It is difficult to predict whether the positive effects of the Crisis and Recovery Act would outweigh the negative aspects. Much depends on the manner in which the authorities will actually apply the Act. Should they implement the Act to its full potential, the effect of the Act in sum will be negative. In that case, the Act may help the economy to recover, but it will bring about a crisis in the legal system. It will, in all probability, also not contribute to sustainable development.

THE ROLE OF FINANCIAL EDUCATION IN DEVELOPING THE FINANCIAL SERVICES MARKET

OpenAIRE

Ivanka Daneva

2015-01-01

Considering the current complexity of financial markets and of financial instruments and services, financial education is part of population’s financial literacy and it ranks as paramount factor in the complex for the financial markets development.

Cost-effective treatment of swine wastes through recovery of energy and nutrients.

Science.gov (United States)

Amini, Adib; Aponte-Morales, Veronica; Wang, Meng; Dilbeck, Merrill; Lahav, Ori; Zhang, Qiong; Cunningham, Jeffrey A; Ergas, Sarina J

2017-11-01

Wastes from concentrated animal feeding operations (CAFOs) are challenging to treat because they are high in organic matter and nutrients. Conventional swine waste treatment options in the U.S., such as uncovered anaerobic lagoons, result in poor effluent quality and greenhouse gas emissions, and implementation of advanced treatment introduces high costs. Therefore, the purpose of this paper is to evaluate the performance and life cycle costs of an alternative system for treating swine CAFO waste, which recovers valuable energy (as biogas) and nutrients (N, P, K + ) as saleable fertilizers. The system uses in-vessel anaerobic digestion (AD) for methane production and solids stabilization, followed by struvite precipitation and ion exchange (IX) onto natural zeolites (chabazite or clinoptilolite) for nutrient recovery. An alternative approach that integrated struvite recovery and IX into a single reactor, termed STRIEX, was also investigated. Pilot- and bench-scale reactor experiments were used to evaluate the performance of each stage in the treatment train. Data from these studies were integrated into a life cycle cost analysis (LCCA) to assess the cost-effectiveness of various process alternatives. Significant improvement in water quality, high methane production, and high nutrient recovery (generally over 90%) were observed with both the AD-struvite-IX process and the AD-STRIEX process. The LCCA showed that the STRIEX system can provide considerable financial savings compared to conventional systems. AD, however, incurs high capital costs compared to conventional anaerobic lagoons and may require larger scales to become financially attractive. Copyright © 2017 Elsevier Ltd. All rights reserved.

Improvement of vehicle stability in cornering on uneven road; Akuro senkaiji ni okeru sharyo no anzensei kojo

Energy Technology Data Exchange (ETDEWEB)

Tobimatsu, K; Harada, M; Harada, H [National Defense Academy, Kanagawa (Japan)

1997-10-01

The active control of vehicle suspensions and rear wheel steering systems in turning on uneven roads is analyzed by means of LQR control theory, assuming that cornering forces depend on tire normal loads in addition to tire slip angles. The authors quantitatively investigated the effectiveness of the integrated control of the active suspension and the rear wheel steering, comparing the contributions of each individual system. Furthermore, in this paper, the role of the chassis control and driver control are studied in order to improve the stability of vehicle motion disturbed by the road surface. 4 refs., 9 figs.

Financial literacy and financial literacy education : what might be the components of an effective financial literacy curriculum?

OpenAIRE

Lee, Nirmala

2010-01-01

Abstract There is concern about lack of financial literacy and need for financial literacy education, but little or no attempt to understand their nature. Three questions were asked: 'What is financial literacy?', 'What is financial literacy education?' and 'What might be the components of an effective financial literacy curriculum?'. Adopting an inductive grounded theory approach and a pragmatist philosophy, in association with real-world organisations such as the National ...

Financial Literacy as the Foundation for Individual Financial Behavior

Science.gov (United States)

Dwiastanti, Anis

2015-01-01

Research that is dealing with financial literacy turns to be such an important thing to be conducted. It is due to the fact that financial literacy level of Indonesian society is still very low. A good financial literacy is necessary for every individual to manage his/her finances to achieve prosperity. To have a good level of financial literacy,…

Financial Literacy, Financial Education and Economic Outcomes. NBER Working Paper No. 18412

Science.gov (United States)

Hastings, Justine S.; Madrian, Brigitte C.; Skimmyhorn, William L.

2012-01-01

In this article we review the literature on financial literacy, financial education, and consumer financial outcomes. We consider how financial literacy is measured in the current literature, and examine how well the existing literature addresses whether financial education improves financial literacy or personal financial outcomes. We discuss the…

Analysis of Multiple Structural Changes in Financial Contagion Based on the Largest Lyapunov Exponents

Directory of Open Access Journals (Sweden)

Rui Wang

2014-01-01

Full Text Available A modified multiple structural changes model is built to test structural breaks of the financial system based on calculating the largest Lyapunov exponents of the financial time series. Afterwards, the Lorenz system is used as a simulation example to inspect the new model. As the Lorenz system has strong nonlinearity, the verification results show that the new model has good capability in both finding the breakpoint and revealing the changes in nonlinear characteristics of the time series. The empirical study based on the model used daily data from the S&P 500 stock index during the global financial crisis from 2005 to 2012. The results provide four breakpoints of the period, which divide the contagion into four stages: stationary, local outbreak, global outbreak, and recovery period. An additional significant result is the obvious chaos characteristic difference in the largest Lyapunov exponents and the standard deviation at various stages, particularly at the local outbreak stage.

Recovery of the Education System in Myanmar

Directory of Open Access Journals (Sweden)

Martin Hayden And Richard Martin

2013-10-01

Full Text Available Myanmar's education system is in a very weakened state. The physical condition and human resource capacity of the system is poor by any standard, and teachers, whether in schools, colleges or universities, have few opportunities and little incentive for professional development. A process of recovery is getting underway, but it will take years before significant improvements are evident. Major cultural change is required in the style of leadership and management at all levels of government, and there is also a desperate need for more financial resources. This paper documents the current state of the education system in Myanmar and advances three priority areas for immediate attention.

Determination of density profiles of unevenly compressed wood of Po­pu­lus tremula using the X – RAY DENSE – LAB laboratory device

Directory of Open Access Journals (Sweden)

Aleš Dejmal

2009-01-01

Full Text Available The paper deals with the measuring of the density profile of unevenly pressed wood of European aspen (Populus tremula L.. The main aim of the work is to examine in an experimental way the possibilities of using the X – RAY DENSE – LAB laboratory equipment designed for the determination of density profiles of agglomerated and plied large-area materials. The work uses the X – RAY DENSE – LAB equipment to determine the density profile of the cross-section of unevenly pressed aspen wood, plasticized hydrothermically, without the presence of chemical substances. The work also presents calculations of the level of compression/densification in dependence on the density and it describes the factors that can influence the density profile of compressed/densified wood; at the same time, it presents the possible ways to determine the density profile in the cross-section. Further, it includes the creation of the methodology for sample preparation so that the results do not get distorted during measuring. It describes the preparation of sample pieces, the orientation of the anatomic structure, the methodology of pressing, air conditioning, sample preparation, their measuring and analysis. The paper also describes the theory and the principles of measuring with use of X – RAY DENSE – LAB and its calibration. The paper analyses the obtained results of density profiles and searches for and describes the causes of the uneven distribution of the density in the cross-section. It concludes by summarizing the results and recommending the procedure for future measuring.

Financial Stress and Financial Counseling: Helping College Students

Science.gov (United States)

Britt, Sonya L.; Canale, Anthony; Fernatt, Fred; Stutz, Kristen; Tibbetts, Racquel

2015-01-01

This study had two distinct purposes. First, to determine the predictors of financial stress among college students who sought free peer-based financial counseling from a large Midwestern university (N = 675). Secondly, to determine the effectiveness of the particular financial counseling center from a subsample of those who sought help (N = 97).…

Framework for financial ratio analysis of audited federal financial reports

OpenAIRE

Brady, Richard T.

1999-01-01

Federal agencies have traditionally prepared financial reports to monitor and report the obligation and expenditure of federal funding. With the passage of the Chief Financial Officers Act of 1990, Congress called for the production of financial statements that fully disclose a federal entity's financial position and results of operations. The disclosure of this type of information, it was believed, would enable decision-makers to understand the financial implications of budgetary, policy and...

The financial position and funding of French non-financial corporations

OpenAIRE

G. Cette.; J.-P. Villetelle.

2015-01-01

This study, based on recent company statistics from national accounts and financial statements, shows a deterioration in the financial position of French non-financial corporations. This is affecting their performances and is prompting them to diversify their sources of funding in order to rationalise their financial structure.

APPLICATION OF FINANCIAL ETHICS IN ANNUAL FINANCIAL REPORTING OF BANKS

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Ayuba A. Aminu

2016-03-01

Full Text Available The importance of financial ethics and its application in financial reporting of banks cannot be ignored as it assists in building public confidence and fostering professionalism. However, the non-compliance and conformity with Nigerian Financial Regulatory Authorities prudential guidelines in the preparation of financial statements lead to incomplete or false information. The objective of the study is to examine the application of financial ethics in annual financial reporting of banks. The study employed primary and secondary data and stratified and purposive sampling techniques were used in which 20 questionnaires were administered to respondents. ANOVA and chi-square were in analysis and the findings revealed that there are significant unethical practices in the preparation of financial reports of banks in Nigeria. The study recommends that more emphasis and attention should be given to ethical standards in all banks and banks should give out clear reports of their financial activities to the regulatory authorities.

Financial Planners: Educating Widows in Personal Financial Planning

Science.gov (United States)

Korb, Brian R.

2010-01-01

Widows constitute a growing segment of the U.S. population; however, very little has been done to educate them on the basics of personal financial planning. The creation and implementation of financial planning education programs for widows can help them become more financially literate and free them from anxiety and fear. Interviews with eight…

Does Financial Inclusion Induce Financial Stability? Evidence from Cross-country Analysis

Directory of Open Access Journals (Sweden)

Md. Nur Alam Siddik

2018-04-01

Full Text Available In recent times, financial inclusion and financial stability issue have become a priority on policy agendas across the world. However, there is relative dearth of empirical studies addressing and establishing the link between the same. This study fills this gap. Using panel data of 2001-2013, this study empirically investigated whether financial inclusion contributes to country’s financial stability, measured by Z-score. Robust results from GMM dynamic panel data estimator show that financial inclusion variables as measured by number of SME borrowers to total borrowers and ratio of outstanding SME loans to total loans have significant positive contributions to financial stability. Findings also indicate that GDP per capita, liquidity, proportion of private credit to GDP are positively and proportion of domestic credit provided to private sector and financial crisis are negatively associated with financial stability. Empirical findings of this study is of greater significance to the policymakers as it will invoke the attention of governments and policymakers to undertake such policies to accelerate financial inclusion of their countries which in turn will lead to country’s greater financial stability. This study also contributes to empirical literatures of the issue of financial inclusion and financial stability by reconfirming (or otherwise findings of previous studies.

Bye, Bye Financial Repression, Hello Financial Deepening: The Anatomy of a Financial Boom

OpenAIRE

João Manoel Pinho de Mello; Márcio Gomes Pinto Garcia

2011-01-01

Since the conquest of hyperinflation, with the Real Plan, in 1994, the Brazilian financial system has grown from early infancy to late adolescence. We describe the process of maturing with emphasis on the defining features of the Brazilian financial system over the last 20 years: 1) stabilization and the subsequent financial crisis; 2) universality of banks; 3) market segmentation through public lending; 4) institutional improvement. Further paraphrasing Díaz Alejandro (1984), we raise some h...

Text Fixture for Double Cantilever Beam (DCB) Specimens Subjected to Uneven Bending Moments

DEFF Research Database (Denmark)

Svenninggaard, Jon; Andreasen, Jens; Bak, Brian

Bending Moments as a function of the phase angle ranging from mode I to mode II loading including mixed modes in-between. The test fixture utilizes an existing tensile testing machine and can subject specimens to loads up to 350 Nm. The test fixture is compact in size and designed using standard aluminium...... profiles for the main structure. The load is transferred from the test machine to the specimen through a 2 mm Dyneema rope. The rope is routed over a set of rollers that are positioned according to the specified mode mixity and phase angle. The kinematics of the test fixture has been analysed extensively...... strength in layered materials the cohesive law and fracture strength must be known. Ideally the entire cohesive law is known in order to aid in the design of components and structures. In this work we present a novel test fixture which can be used to test DCB specimens that are subjected to pure Uneven...

Financial Literacy and Financial Education: Review and Policy Implications

OpenAIRE

Annamaria Lusardi

2006-01-01

In recent years, as workers have gained an unprecedented degree of control over their pensions and savings, the importance of financial literacy and financial education has increased considerably. Large changes in the structure of financial markets, labor markets, and demographics in developed countries have led to this change. Consumers have a bewildering array of complex financial products – from reverse mortgages to annuities – to choose from, making saving decisions increasingly complex. ...

Building financial and insurance resilience in the context of climate change

Directory of Open Access Journals (Sweden)

Miškić Miroslav

2017-01-01

Full Text Available The key challenge for individuals, businesses and governments would be the building financial and insurance resilience in changing climate. It becomes important issue for the financial management to create financial protection and insurance means to manage the financial losses, reducing the economic impact of disaster events, and supporting better recovery. In accordance with that the Paper provides an overview of the field and desk research of potential income implications of climate change for the financial management of disaster risks and losses. Desk research is based on Serbian case and its experience with the 2014 floods. Key findings of the field research provided in Serbia in 2016 on managing the risk of natural disasters, floods, fires, earthquakes as a part of organizational risk in 92 manufacturing firms, banks and insurance companies is also provided in the Paper. The methods used are: statistical description, X2 test and liner regression models. The results of both researches on risk management of floods showed that: companies calculate the impact of this risk to their year revenues as small, also a non-strategic approach of the Serbian government can be seen, as a financial gap of 65% in covering the losses. The research results pointed also to low awareness of the problem on the corporate and national level. The contribution of the Paper is to support further development of country and local plans for more effectively reducing the economic disruption of disaster events and policy approaches to supporting the penetration of disaster finance and insurance coverage and the capacity of insurance markets to absorb these risks. Also, to support the improvement of the culture of risk management of business sector in this field.

Haematological effects of rhG-CSF on dogs exposed to 6.5 Gy uneven γ-radiation

International Nuclear Information System (INIS)

Luo Qingliang; Xia Zhenbiao; Dong Bo

1996-01-01

The stimulative effects of recombinant human granulocyte colony stimulating factor (rhG-CSF) on hematopoietic regeneration were studied in dogs receiving an uneven γ-irradiation with the pelvis shielded at a dose of 6.5 Gy. In the treated dogs, intravenous administration of rhG-CSF at 5 or 10 μg/kg per day for 16 to 20 days caused significant increases of peripheral blood leucocytes, neutrophils, reticulocytes, and platelets. The nucleated cell and CFU-GM counts of bone marrow also showed an obvious rise, while the hemoglobin level did not significantly change during the course of treatment. In the irradiated dogs treated with rhG-CSF, the severity of neutropenia decreased, and its duration shortened

Energy recovery from municipal solid wastes in Italy: Actual study and perspective for future

International Nuclear Information System (INIS)

Brunetti, N.; Ciampa, F.; De Cecco, C.

1992-01-01

Materials and energy recovery from municipal solid wastes (MSW) and assimilable waste, and their re-use is one of strong points of current regulations and tendencies, both at the national and at community level in Europe. In Italy, the interest in energy recovery from renewable sources has been encouraged by energy-savings law which included financial incentives for thermal plant building if low grade fuels such as MSW were employed. New electric power prices imposed by Italian Electric Power Authority, ENEL, encourage energy recovery from waste burners. This paper aims to point out the present state of energy recovery from wastes in Italy, trends and prospects to satisfy, with new plants, the need for waste thermal destruction and part of the demand for energy in the different Italian regions: only about 10% of MSW are burned and just a small percentage of the estimated amount of recoverable energy (2 MTOE/y) is recuperated. Different technological cycles are discussed: incineration of untreated wastes and energy recovery; incineration (or gasification) of RDF (refuse derived fuels) and heat-electricity co-generation; burning of RDF in industrial plants, in addition to other fuels

Financial Derivatives

OpenAIRE

Janečková, Alena

2011-01-01

1 Abstract/ Financial derivatives The purpose of this thesis is to provide an introduction to financial derivatives which has been, from the legal perspective, described in a not satisfactory manner as quite little literature that can be found about this topic. The main objectives of this thesis are to define the term "financial derivatives" and its particular types and to analyse legal nature of these financial instruments. The last objective is to try to draft future law regulation of finan...

Effects of uneven temperature of IGBT and diode on switching characteristics of bridge legs in MW-level power converters

DEFF Research Database (Denmark)

Luo, Haoze; Iannuzzo, Francesco; Blaabjerg, Frede

2016-01-01

profile, the junction temperatures of inspected IGBT and related commutation diode are controlled independently using off-line test platform. In consideration of the structural layout, parasitic parameter effects and independent junction temperature control, a high-power switching characteristics platform...... was built. High power compact IGBT modules with 1.7kV rating and 3.6kA current rating are used for the experimental evaluation and platform feasibility. The quantitative analyses of uneven temperature effects on the switching characteristics are investigated and experimentally validated....

FINANCIAL BALANCE - BASIC TOOL IN APPROACHING FINANCIAL DIAGNOSIS FOR FIRM VALUATION

OpenAIRE

Dorel BERCEANU; Nicolae SICHIGEA; Marcel DRĂCEA

2010-01-01

This paper addresses a very topical issue, namely the importance in assessing the company's financial accounts. Thus, after a brief role in evaluating company financial diagnosis and approaches related to the concept of financial balance, we presented the financial balance sheet in terms of logic building financial stability analysis. At the end of the paper were presented some conclusions.

Financial Development, Financial Structure, and Macroeconomic Volatility: Evidence from China

Directory of Open Access Journals (Sweden)

Feng Wei

2016-11-01

Full Text Available Using annual data from 1997–2014 of 30 provinces, municipalities, and autonomous regions, subdividing trended and cyclical volatility of macroeconomics and inflation, considering different indicators of financial development and financial structure, this paper investigated the impact of financial development and financial structure on macroeconomic volatility. The empirical results found that (1 the trended and cyclical volatility of the previous macroeconomic period had a significantly positive impact on that of the current period, and the impact of trended volatility was greater than that of cyclical volatility; (2 financial development had a significantly negative impact on macroeconomic cyclical volatility through inflation cyclical volatility, but inflation trended volatility would amplify macroeconomic volatility; financial markets have no significant effect on macroeconomic volatility; financial structure measured with the ratio of stock market turnover and the efficiency of the financial development had a significant positive impact on macroeconomic cyclical volatility; and (3 inflation trended volatility had a significantly negative impact on macroeconomic cyclical volatility and trended volatility, while inflation cyclical volatility had a significantly positive impact on macroeconomic cyclical volatility.

Financial and Non Financial Factors on Going-Concern Opinion

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Junaidi Junaidi

2012-09-01

Full Text Available Company's ability to survive is a fundamental uncertainty faced in the preparation and auditing financial statements. Provision of going-concern opinion on these financial statements the company is still being debated. Public Accountant Professional Standards in section 341 states that the auditor is responsible for evaluating whether there is a major doubt on the ability of entities in the continued survival of the appropriate period of time, not more than one year from the date of the financial statements being audited. This research analyzed the financial and non financial factors that affected the provision of going-concern opinion. This research used samples of 63 companies with 315 observations, taken from years 2005-2009. The logistic regression analysis showed that the company's financial condition variables, mitigating evidence, and disclosure significantly influence the acceptance of going-concern opinion. Enterprise risk was not significant at propensity of going-concern opinion.

Modeling financial disaster risk management in developing countries

Science.gov (United States)

Mechler, R.; Hochrainer, S.; Pflug, G.; Linnerooth-Bayer, J.

2005-12-01

The public sector plays a major role in reducing the long-term economic repercussions of disasters by repairing damaged infrastructure and providing financial assistance to households and businesses. If critical infrastructure is not repaired in a timely manner, there can be serious effects on the economy and the livelihoods of the population. The repair of public infrastructure, however, can be a significant drain on public budgets especially in developing and transition countries. Developing country governments frequently lack the liquidity, even including international aid and loans, to fully repair damaged critical public infrastructure or provide sufficient support to households and businesses for their recovery. The earthquake in Gujarat, and other recent cases of government post-disaster liquidity crises, have sounded an alarm, prompting financial development organizations, such as the World Bank, among others, to call for greater attention to reducing financial vulnerability and increasing the resilience of the public sector. This talk reports on a model designed to illustrate the tradeoffs and choices a developing country must make in financially managing the economic risks due to natural disasters. Budgetary resources allocated to pre-disaster risk management strategies, such as loss mitigation measures, a catastrophe reserve fund, insurance and contingent credit arrangements for public assets, reduce the probability of financing gaps - the inability of governments to meet their full obligations in providing relief to private victims and restoring public infrastructure - or prevent the deterioration of the ability to undertake additional borrowing without incurring a debt crisis. The model -which is equipped with a graphical interface - can be a helpful tool for building capacity of policy makers for developing and assessing public financing strategies for disaster risk by indicating the respective costs and consequences of financing alternatives.

Financial Policies and the Prevention of Financial Crises in Emerging Market Countries

OpenAIRE

Frederic S. Mishkin

2001-01-01

This paper outlines a set of financial policies that can help make financial crises less likely in emerging market countries. To justify these policies, the paper first explains what a financial crisis is, the factors that promote a financial crisis and the dynamics of a financial crisis. It then examines twelve basic areas of financial policies to prevent financial crises: 1) prudential supervision, 2) accounting and disclosure requirements, 3) legal and judicial systems, 4) market-based dis...

A financial network perspective of financial institutions' systemic risk contributions

Science.gov (United States)

Huang, Wei-Qiang; Zhuang, Xin-Tian; Yao, Shuang; Uryasev, Stan

2016-08-01

This study considers the effects of the financial institutions' local topology structure in the financial network on their systemic risk contribution using data from the Chinese stock market. We first measure the systemic risk contribution with the Conditional Value-at-Risk (CoVaR) which is estimated by applying dynamic conditional correlation multivariate GARCH model (DCC-MVGARCH). Financial networks are constructed from dynamic conditional correlations (DCC) with graph filtering method of minimum spanning trees (MSTs). Then we investigate dynamics of systemic risk contributions of financial institution. Also we study dynamics of financial institution's local topology structure in the financial network. Finally, we analyze the quantitative relationships between the local topology structure and systemic risk contribution with panel data regression analysis. We find that financial institutions with greater node strength, larger node betweenness centrality, larger node closeness centrality and larger node clustering coefficient tend to be associated with larger systemic risk contributions.

A FRAMEWORK FOR THE TREATMENT OF FINANCIAL CONTAGION EFFECTS IN THE CONTEXT OF THE ACTUAL EUROPEAN TURBULENCES

Directory of Open Access Journals (Sweden)

Boscoianu Mircea

2010-12-01

Full Text Available There is still a debate regarding a possible restoring of the confidence in European financial markets because there are still underlying problems from the super-sized finance that actually worsened. Anti crisis strategy efficiency and future costs of real reform make analysts more prudent in forecasts. In addition, a possible reduction risk appetite and the loss of confidence will fuel a negative perspective regarding the recovery of emerging economies, extreme fragile to regional or global contagion effects. In modern financial crises, the events spiral out of control, panic and contagion come very fast. Greek debt crisis is the most serious extreme financial event in the Eurozone, with severe contagion features. An analysis of Eurocontagion effects in the context of Greece crisis by using a dynamic version of the Hawkes jump-diffusion model is suggested.

FINANCIAL REPORTING IN PUBLIC INSTITUTIONS AND NON-FINANCIAL ENTITIES. SIMILARITIES AND DIFFERENCES

OpenAIRE

Daniela Vitan

2011-01-01

The present paperwork contains issues regarding financial reporting at the public institutions and non – financial entities. The main aspects are regarding the obligation of all entities to present the financial statements, the content of financial statements in public institutions and non-financial entities. Also, is presented the similarities and the differences aspects between financial reporting of these two patrimonial entities.

Workplace Financial Education Facilitates Improvement in Personal Financial Behaviors

Science.gov (United States)

Prawitz, Aimee D.; Cohart, Judith

2014-01-01

Based on the life-cycle theory of consumption, this quasi-experimental study of 995 employees examined changes in financial behaviors following employee-needs-driven workplace financial education. Repeated-measures ANOVA compared participants and non-participants on perceived financial wellness and savings ratios; main effects indicated that both…

Spectral and cross-spectral analysis of uneven time series with the smoothed Lomb-Scargle periodogram and Monte Carlo evaluation of statistical significance

Science.gov (United States)

Pardo-Igúzquiza, Eulogio; Rodríguez-Tovar, Francisco J.

2012-12-01

Many spectral analysis techniques have been designed assuming sequences taken with a constant sampling interval. However, there are empirical time series in the geosciences (sediment cores, fossil abundance data, isotope analysis, …) that do not follow regular sampling because of missing data, gapped data, random sampling or incomplete sequences, among other reasons. In general, interpolating an uneven series in order to obtain a succession with a constant sampling interval alters the spectral content of the series. In such cases it is preferable to follow an approach that works with the uneven data directly, avoiding the need for an explicit interpolation step. The Lomb-Scargle periodogram is a popular choice in such circumstances, as there are programs available in the public domain for its computation. One new computer program for spectral analysis improves the standard Lomb-Scargle periodogram approach in two ways: (1) It explicitly adjusts the statistical significance to any bias introduced by variance reduction smoothing, and (2) it uses a permutation test to evaluate confidence levels, which is better suited than parametric methods when neighbouring frequencies are highly correlated. Another novel program for cross-spectral analysis offers the advantage of estimating the Lomb-Scargle cross-periodogram of two uneven time series defined on the same interval, and it evaluates the confidence levels of the estimated cross-spectra by a non-parametric computer intensive permutation test. Thus, the cross-spectrum, the squared coherence spectrum, the phase spectrum, and the Monte Carlo statistical significance of the cross-spectrum and the squared-coherence spectrum can be obtained. Both of the programs are written in ANSI Fortran 77, in view of its simplicity and compatibility. The program code is of public domain, provided on the website of the journal (http://www.iamg.org/index.php/publisher/articleview/frmArticleID/112/). Different examples (with simulated and

Financial mathematics

CERN Document Server

Jothi, A Lenin

2009-01-01

Financial services, particularly banking and insurance services is the prominent sector for the development of a nation. After the liberalisation of financial sector in India, the scope of getting career opportunities has been widened. It is heartening to note that various universities in India have introduced professional courses on banking and insurance. A new field of applied mathematics has come into prominence under the name of Financial Mathematics. Financial mathematics has attained much importance in the recent years because of the role played by mathematical concepts in decision - m

Macroeconomic trouble and policy challenges in the wake of the financial bust

Directory of Open Access Journals (Sweden)

Angel Asensio

2011-06-01

Full Text Available Contrasting with the 1929 great crisis, authorities intervened forcefully in 2008 to stop the disintegration of the financial system. Governments and central banks then sought to revise the prudential regulation in depth. It would be optimistic, however, to believe that prudential measures, alone, could deliver full economic recovery, at least in the countries that had been involved in the financial turmoil. Indeed, the collapse of the "state of confidence" and the negative effects of private debts on consumption and investment decisions have fed depressive forces and policy challenges which could hold for a while, even once the financial sector is made safe. On the one hand, the economic slowdown and the direct and indirect assistance provided by the governments to the private sectors are having a heavy impact on public finances, meanwhile, on the other hand, the massive amounts of money which artificially inflated the prices of housing and financial products could produce inflationary pressures in the post-crisis period, unless a new assets bubble is allowed for. Authorities could therefore be facing high unemployment in a damaged context of public deficits and inflationary pressures. The paper aims at discussing these new challenges. The inadequacy of inflation targets and fiscal orthodoxy in a depressed economy is emphasized, and the outlines of a Post Keynesian alternative policy are examined.

Framework for Financial Ratio Analysis of Audited Federal Financial Reports

National Research Council Canada - National Science Library

Brady, Richard

1999-01-01

.... With the passage of the Chief Financial Officers Act of 1990, Congress called for the production of financial statements that fully disclose a federal entity's financial position and results of operations...

Recovery and severe mental illness: The role of romantic relationships, intimacy, and sexuality.

Science.gov (United States)

Boucher, Marie-Eve; Groleau, Danielle; Whitley, Rob

2016-06-01

The overall aim of this article is to examine the self-defined role of romantic relationships, intimacy and sexuality in recovery from severe mental illness. Semistructured interviews were conducted with 35 people with severe mental illness, accompanied by participant observation. Data were analyzed using thematic analysis. The vast majority of participants considered a supportive relationship that was emotionally or sexually intimate to be a key facilitator and indicator of recovery. However, only a small minority of participants were actually in such a relationship. Participants reported numerous barriers to forming and maintaining such relationships such as financial strain and enduring stigma against people with mental illness. Addressing relational and intimate needs have not been a focus of traditional psychiatric services. As such, some form of "supported dating" within the field of psychosocial rehabilitation may be an essential development to foster an oft-overlooked but important aspect of recovery. (PsycINFO Database Record (c) 2016 APA, all rights reserved).

Financial Economy and Financial System: Basis of Structural Interconnection

OpenAIRE

Khorosheva Olena I.

2014-01-01

The goal of the article lies in identification of grounds of interconnection of the financial economy and financial system. The study was conducted with consideration of main provisions of the theory of finance and concept of financial economy, which is a set of means used in the process of reproduction of finance by their owner for formation and / or maintenance of the own system of values in the viable state. For the first time ever the structure of the financial system is identified as an ...

Application of 'C.A.R.B. financial methodology' analysis for alternative energy technologies into UK housing

International Nuclear Information System (INIS)

Spanos, Ioannis; Duckers, Les; Holmes, Kenneth L.

2007-01-01

Current energy trends in UK housing are reviewed and then assessed by introducing the 'CARB financial analysis' methodology. CARB is an acronym for 'Carbon Abatement', as it evaluates the potential carbon-dioxide reduction from different technologies; 'Relative', as all the technologies examined are dependant on various primary sources; and 'Balance', as the cost of surplus CO 2 is quantified. According to conventional financial analysis, most of the technologies examined have the potential to provide positive returns on the investments especially for those with an environmentally conscious agenda. Further reduction of up to 30% of most installed alternative energy systems cost is required to compete with an investment in, e.g., a UK pension scheme. Using the 'CARB financial analysis' the cost of reducing CO 2 has been quantified, and compared with the potential cost of climate change impact. Conventional installed solar technologies are not financially attractive both with a pay back period calculations and 'CARB financial analysis' under current market costs and governmental subsidy regimes. Heat recovery technologies could be sensible investments, both in financial and environmental terms under particular assumptions; especially if the investment budget is small. The use of cogeneration technologies provides a financial advantage in the attempt to minimise the cost of climate change impact, as pay back period of such investment could be less than 7 yr, and the cost of CO 2 saved could be two to seven times less than the global damage cost of carbon emissions. (author)

Financial Literacy and Financial Sophistication in the Older Population

Science.gov (United States)

Lusardi, Annamaria; Mitchell, Olivia S.; Curto, Vilsa

2017-01-01

Using a special-purpose module implemented in the Health and Retirement Study, we evaluate financial sophistication in the American population over the age of 50. We combine several financial literacy questions into an overall index to highlight which questions best capture financial sophistication and examine the sensitivity of financial literacy responses to framing effects. Results show that many older respondents are not financially sophisticated: they fail to grasp essential aspects of risk diversification, asset valuation, portfolio choice, and investment fees. Subgroups with notable deficits include women, the least educated, non-Whites, and those over age 75. In view of the fact that retirees increasingly must take on responsibility for their own retirement security, such meager levels of knowledge have potentially serious and negative implications. PMID:28553191

Financial Literacy and Financial Sophistication in the Older Population.

Science.gov (United States)

Lusardi, Annamaria; Mitchell, Olivia S; Curto, Vilsa

2014-10-01

Using a special-purpose module implemented in the Health and Retirement Study, we evaluate financial sophistication in the American population over the age of 50. We combine several financial literacy questions into an overall index to highlight which questions best capture financial sophistication and examine the sensitivity of financial literacy responses to framing effects. Results show that many older respondents are not financially sophisticated: they fail to grasp essential aspects of risk diversification, asset valuation, portfolio choice, and investment fees. Subgroups with notable deficits include women, the least educated, non-Whites, and those over age 75. In view of the fact that retirees increasingly must take on responsibility for their own retirement security, such meager levels of knowledge have potentially serious and negative implications.

RISK MANAGEMENT WITH FINANCIAL DERIVATIVES: EMPIRICAL EVIDENCE FROM ROMANIAN NON-FINANCIAL FIRMS

Directory of Open Access Journals (Sweden)

Sorin Gabriel Anton

2016-12-01

Full Text Available Financial risk management has rapidly evolved over the past two decades and has become an indispensable function in many institutions from different area of activities. In the last two decades, as the financial markets have become more and more mature, an increasing number of firms from emerging economies have chosen to use derivatives to hedge financial risks. As a result, risk management with financial derivatives has attracted much attention recently, becoming an important topic in the financial literature. However, we know little about the use of financial derivatives by firms from emerging economies and about the effect of these instruments on firms’ risk and value. The aim of the paper is to provide new insights into the use of financial derivatives for hedging purpose by non-financial firms from emerging markets. We analyzed risk management practices on a sample of 68 non-financial firms listed at Bucharest Stock Exchange (BSE over a long time frame (2001 to 2011. We found that Romanian non-financial firms from our sample are exposed mainly to commodity price risk, currency risk, interest rate risk, and liquidity risk. More than half of the firms in our sample (55.88% publish in their annual reports the goal of risk management process. Our results show that 10.29% of non-financial firms in our sample use financial derivatives to hedge their currency, interest rate or commodity price risks. We also found that the volatility caused by the global financial crisis determined many firms to use financial derivatives over the period 2007-2011. Nevertheless, the use of financial derivatives by Romanian non-financial firms is low relative to values registered for other emerging economies. The most important factors that hindered the use of financial derivatives have been the low liquidity of exchange derivatives markets, high hedging costs, and the lack of risk management expertise. The traditional approach of managing risks individually is

Monitoring and optimization of thermal recovery wells at Nexen's Long Lake project

Energy Technology Data Exchange (ETDEWEB)

Furtado, S.; Howe, A.; Wozney, G.; Zaffar, S. [Nexen Inc. (Canada); Nelson, A. [Matrikon Inc. (Canada)

2011-07-01

The Long Lake project, operated by Nexen and situated in the Athabasca Oil Sands area in Alberta, Canada is a steam assisted gravity drainage scheme. In such thermal recovery processes, access to real time information is crucial. Nexen used specific tools to optimize monitoring in its Long Lake project and the aim of this paper is to present those customized well and facilities dashboards and reservoir trends. Real time and historical data on pressure, temperature injection and production rates are used in a Honeywell PHD Historian connected to a Delta-V DCS system to optimize recovery from the deposit. Results showed that these enhanced monitoring capabilities provided Nexen the ability to react rapidly to abnormal conditions, which resulted in significant financial benefits. The implementation of dashboard and reservoir trends in its Long Lake project helped Nexen to better monitor the reservoir and thus to optimize bitumen recovery.

Enhancing Financial Security in Agricultural Business: Financial and Property Aspects

OpenAIRE

Yuliya Bezdushna

2014-01-01

The article provides the analysis of information support for the developing agrarian businesses financial security activities. The impact of financial statements on financial security has been proved through generalization procedure of such calculating indicators as operating margin, return on assets, total liquidity ratio and financial autonomy ratio. A causal effect between mass underestimation of operating fixed assets in accounting and inflated profitability rates in agribusinesses operat...

Uneven distribution of enamel in the tooth crown of a Plains Zebra (Equus quagga

Directory of Open Access Journals (Sweden)

Daniela E. Winkler

2015-06-01

Full Text Available Unworn teeth of herbivorous mammals are not immediately functional. They have to be partially worn to expose enamel ridges which can then act as shear-cutting blades to break the food down. We use the Plains Zebra (Equus quagga as a hypsodont, herbivorous model organism to investigate how initial wear of the tooth crown is controlled by underlying structures. We find that the enamel proportion is smaller at the apical half of the tooth crown in all upper tooth positions and suggest that lower enamel content here could promote early wear. Besides this uneven enamel distribution, we note that the third molar has a higher overall enamel content than any other tooth position. The M3 is thus likely to have a slightly different functional trait in mastication, resisting highest bite forces along the tooth row and maintaining functionality when anterior teeth are already worn down.

Uneven distribution of enamel in the tooth crown of a Plains Zebra (Equus quagga).

Science.gov (United States)

Winkler, Daniela E; Kaiser, Thomas M

2015-01-01

Unworn teeth of herbivorous mammals are not immediately functional. They have to be partially worn to expose enamel ridges which can then act as shear-cutting blades to break the food down. We use the Plains Zebra (Equus quagga) as a hypsodont, herbivorous model organism to investigate how initial wear of the tooth crown is controlled by underlying structures. We find that the enamel proportion is smaller at the apical half of the tooth crown in all upper tooth positions and suggest that lower enamel content here could promote early wear. Besides this uneven enamel distribution, we note that the third molar has a higher overall enamel content than any other tooth position. The M3 is thus likely to have a slightly different functional trait in mastication, resisting highest bite forces along the tooth row and maintaining functionality when anterior teeth are already worn down.

Integrating physical and financial approaches to manage environmental financial risk

Science.gov (United States)

Characklis, Gregory; Meyer, Eliot; Foster, Benjamin

2017-04-01

Physical and/or engineered solutions have long been used to manage risks associated with adverse environmental events. Examples include reservoirs as a tool for mitigating drought-related supply risk, levees for managing flood risk and dredging of inland waterways to ensure navigability during low flow periods. These measures can reduce many types of risk (e.g., loss of life), but are often employed as a means of protecting against financial losses. When the focus is on managing environmental financial risk, physical solutions can be effective, but also costly. In many cases, non-physical tools can provide a less expensive means of managing financial risk, with these often taking the form of financial instruments such as hedging contracts, contingency funds or insurance. Some of these instruments, such as flood insurance, are widely available, but historically many environmental financial risks have been managed primarily (or solely) via physical solutions without much consideration of alternatives, thereby opening opportunities for innovation in developing financial solutions. Recent research has demonstrated that financial instruments can play a significant role in managing drought-related financial risk in sectors as diverse as water utilities, energy generation and inland navigation. Nonetheless, this work has largely considered the use of these instruments within systems in which physical solutions are already in place (but failing to achieve desired performance). The next step in the evolution of managing environmental financial risk involves developing methods for designing risk management strategies that do not assume an established physical system. Here the goal is to identify the relative role that physical solutions and financial instruments should play as they are integrated into a comprehensive risk management strategy. This is not a straightforward challenge as one approach reduces the risk of financial losses and the other redistributes those losses

Financial Risk Management

OpenAIRE

Catalin-Florinel Stanescu; Laurentiu Mircea Simion

2011-01-01

Concerns about the financial risk is increasing. In this climate, companies of all types and sizes want a robust framework for financial risk management to meet compliance requirements, contribute to better decision making and increase performance. Financial risk management professionals working with financial institutions and other corporate clients to achieve these objectives.

Future of European Financial Supervision, Towards a European System of Financial Supervisors

NARCIS (Netherlands)

Arons, T.M.C.

The 2008 financial crisis made clear the shortcomings in the European structure of financial supervision. In the cur­rent system of financial supervision the financial supervi­sor of the home Member State is in principle the only autho­rity entitled to supervise financial institutions even in case

Financial Stress, Self-Efficacy, and Financial Help-Seeking Behavior of College Students

Science.gov (United States)

Lim, HanNa; Heckman, Stuart J.; Letkiewicz, Jodi C.; Montalto, Catherine P.

2014-01-01

Financial stress and self-efficacy are examined in relationship to college students' financial help-seeking behavior utilizing Grable and Joo's (1999) framework. A cognitive approach is taken by focusing on the moderating role of financial self-efficacy on the relationship between financial stress and financial help-seeking. Data from the 2010…

Good job, bad job: The employment experiences of women in recovery from substance abuse.

Science.gov (United States)

Sinakhone, Joyce K; Hunter, Bronwyn A; Jason, Leonard A

2017-01-01

Women in metropolitan areas have lower employment participation and employment rates than men. Although women face multiple challenges in the labor market, those who have a history of substance use and are abstinent may have a greater disadvantage in obtaining viable employment opportunities due to factors associated with substance use. No research to date has examined employment experiences among women in recovery from substance use. This study examined employment characteristics and experiences of women who had a history of substance use and lived in sober-living environments in urban areas. Data were collected through telephone interviews to sober living homes that were located in 20 urban areas. Themes identified through thematic analysis included employment challenges, the importance of work to substance abuse recovery, job satisfaction, employment aspirations, and employment support in the sober living home. Employment is important to women in substance abuse recovery, not only as a means for financial support, but also as a life priority. The results highlight how employer scheduling practices, low-level positions, and lack of employment supports impact recovery. Findings provide insight into the need for employment support services, including employer education and flexible policies for women in recovery.

Financial Literacy and Long- and Short-Term Financial Behavior in Different Age Groups

Science.gov (United States)

Henager, Robin; Cude, Brenda J.

2016-01-01

The purpose of this study was to examine the relationship between financial literacy and financial behaviors among various age groups. Financial literacy was measured in three ways: objective financial knowledge, subjective financial knowledge or confidence, and subjective financial management ability. The age groups were 18-24, 25-34, 35-44,…

Simultaneous Use of the Financial Literacy Level and the Financial Inclusion Degree as a Result of Financial Education Efficiency in Visegrad Group Countries

Directory of Open Access Journals (Sweden)

Bożena Frączek

2017-02-01

Full Text Available The appropriate level of financial knowledge and the degree of financial integration needed in today's financialized world. This paper studies the level of financial literacy and the degree of financial inclusion among the students who study economic fields. These students are a special target group - very important for future development of financial markets. They are not only the future participants, but also the potential animators and creators of the financial market as well as the future financial advisors. The research sample comes from Visegrad Group countries (4V Countries, as the representatives from Central and Eastern Europe countries, where the level of financial literacy and degree of financial inclusion seems to be lower in comparison to the West European Countries. The research also contributes to knowledge in the area of expanding the methods of assessments of efficiency of financial education. The Authors decided to verify the new assessment of effectiveness of financial education. It will be conducted by a separate and simultaneous assessment of financial literacy and financial inclusion. The main results of research confirm the very low level of financial literacy and financial inclusion of young future economists in 4V Countries in both groups: starting and finishing the professional financial education. In addition, examining the degree of financial inclusion among the students who at the same time are educated at the basic level confirms the much lower level of informed financial inclusion.

Personal Financial Literacy and Financial Planning in Klang Valley, Malaysia

OpenAIRE

Hoe, Siew Yee

2008-01-01

The financial planning industry in Malaysia is still very much at its inception stage. Currently, regulators- Bank Negara Malaysia and Securities Commission of Malaysia have started to regulate the industry by imposing requirements for whoever wanted to venture into the financial planning profession. The title of ‘Financial Planner’ is now highly legalized by the authorities. Empirical studies have been done by overseas scholars and found that the lack of personal financial literacy has been ...

Financial Literacy, Confidence and Financial Advice Seeking

NARCIS (Netherlands)

Kramer, Marc M.

2016-01-01

We find that people with higher confidence in their own financial literacy are less likely to seek financial advice, but no relation between objective measures of literacy and advice seeking. The negative association between confidence and advice seeking is more pronounced among wealthy households.

Financial Adaptation among College Students: Helping Students Cope with Financial Strain

Science.gov (United States)

Serido, Joyce; Shim, Soyeon; Xiao, Jing Jian; Tang, Chuanyi; Card, Noel A.

2014-01-01

This study examines the impact of the recent financial crisis on co-occurring patterns of change in financial strain and financial coping behaviors of college students (N = 748) using two-timed, longitudinal data collected prior to the 2008 financial crisis and again one year later. Using a stress and coping framework, we found that different…

The economic recovery in the Central and Eastern European EU countries

Directory of Open Access Journals (Sweden)

Elena GURGU

2011-03-01

Full Text Available Following the recession in 2008-09, the economies of the eight EU countries in central and Eastern Europe outside the euro area (CEE are recovering gradually, albeit with significant differences across countries. The expansion in economic activity is currently being driven primarily by exports as domestic demand remains subdued. Those countries that accumulated relatively more substantial internal and external imbalances before the financial crisis suffered more severe contractions in output during the crisis, and most of them face a more sluggish economic recovery.

Financial Services Industry

Science.gov (United States)

2006-01-01

www.investopedia.com/features/industryhandbook/banking.asp Mishkin , F. & Eakins, S. (2003). Financial Markets + Institutions (4th ed.). Boston...purposes, participants interact in financial markets for securities, bonds, futures and options, utilizing financial intermediaries such as retail and...nations. U.S. participants, likewise, may also choose to participate in foreign financial institutions in order to gain access to or operate in

Numeracy, Financial Literacy, and Financial Decision-Making

Directory of Open Access Journals (Sweden)

Annamaria Lusardi

2012-01-01

Full Text Available Financial decisions, be they related to asset building or debt management, require the capacity to do calculations, including some complex ones. But how numerate are individuals, in particular when it comes to calculations related to financial decisions? Studies and surveys implemented in both the United States and in other countries that are described in this paper show the level of numeracy among the population to be very low. Moreover, lack of numeracy is not only widespread but is particularly severe among some demographic groups, such as women, the elderly, and those with low educational attainment. This has potential consequences for individuals and for society as a whole because numeracy is found to be linked to many financial decisions. As we shift responsibility from governments and employers onto individuals, it is increasingly important to find ways to equip people with the skills that are necessary to make savvy financial decisions.

The Financial Planning and Financial Literacy of ex-Malaysia Indonesian Migrant Workers

Directory of Open Access Journals (Sweden)

Rayenda Khresna Brahmana

2016-10-01

Full Text Available Indonesian migrant workers (IMW face life difficulties after returning back to Indonesia. This is a contrary condition considering their contribution to their home family in Indonesia while working abroad. Literature mentions that their financial planning is the root of the poverty of ex-IMW. Therefore, this research adopts literacy theory to explain this phenomenon. This research conducted a survey among 548 ex-IMW and measures their financial literacy and financial planning. This research also maps their asset ownership to examine the relationship between financial literacy and asset ownership. Overall, this research documents that financial literacy contributes statistically significantly and positively to financial planning. Furthermore, this research shows that asset ownership is closely related to financial literacy. In a nutshell, this research concludes that it is important for migrant workers to have good knowledge of financial issues, because having good financial literacy helps the migrant workers to plan their finance and budget much better, thereby helping them to avoid the poverty trap. Therefore, policymakers such as migrant worker authorities and/or Indonesian embassies abroad have to institute financial education programmes for migrant workers before they return to Indonesia.

Financial Literacy and Financial Behaviour: Experimental Evidence from Rural Rwanda

NARCIS (Netherlands)

Sayinzoga, Aussi; Bulte, E.H.; Lensink, Robert

We organise a field experiment with smallholder farmers in Rwanda to measure the impact of financial literacy training on financial knowledge and behaviour. The training increased financial literacy of participants, changed their savings and borrowing behaviour and had a positive effect on the new

Large Retailers’ Financial Services

OpenAIRE

Risso, Mario

2010-01-01

Over the last few years, large retailers offering financial services have considerably grown in the financial services sector. Retailers are increasing the wideness and complexity of their offer of financial services. Large retail companies provide financial services to their customers following different strategic ways. The provision of financial services in the retailers offer is implemented in several different ways related to the strategies, the structures and the degree of financial know...

FORMATION OF FINANCIAL RESOURCES OF ENTERPRISES IN CONDITIONS OF FINANCIAL INSTABILITY

Directory of Open Access Journals (Sweden)

Veronika Dmytrovska

2017-08-01

Full Text Available The success of entrepreneurial activity depends on the state of the financial resources of the entity and the choice of the strategy of financial resources forming. In the article  the specification of socio-economic nature of the financial resources of enterprises  is analyzed and proved , their classification under the relevant characteristics and peculiarities of the financial resources formation of businesses in a rapidly changing economy in the context of sustainable economic state development are given. Keywords: financial resources, assets, cash funds, sustainable development

The Financial Flexibility as a Factor of Financial Security

Directory of Open Access Journals (Sweden)

Feofanova Iryna V.

2017-09-01

Full Text Available The article is aimed at researching the approaches to assessing financial flexibility and the ways to improve it as a constituent part of financial security. Both the external and the internal threats to financial security have been defined. The indicators of assessment of the financial status of enterprise that are being calculated on the basis of value of equity were analyzed. It has been determined that the growth of equity has a positive impact on all coefficients, with the exception of the ratio of non-negotiable assets and the equity funds. It has been suggested that the ratio of non-negotiable assets to equity funds should be used as an indicator of the sufficiency of own capital gains. The relationship between the maneuverability coefficient of the own negotiable capital and the ratio of non-negotiable assets to the equity funds has been considered. It has been found that formation of the own financial resources is one of the main ways of increasing the financial flexibility of enterprises and organizations. A number of measures to increase equity have been proposed; the sources of the equity funds and the factors influencing the money flows have been defined.

Financial Globalization and Inequality

OpenAIRE

Kunieda, Takuma

2008-01-01

This paper investigates how financial globalization and financial development affect income inequality within a country. We demonstrate that when a country is financially closed to the world market, the Gini coefficient is monotonically decreasing with respect to the degree of financial development, whereas when a country becomes so small due to financial globalization that financial development in the country does not affect the world interest rate, the Gini coefficient is monotonically incr...

Financial literacy: an interface between financial information and ...

African Journals Online (AJOL)

D.G. Gouws is in the School of Financial Management Sciences, University of Pretoria, and Ms ... connection between the financial numbers and the real business world context. ...... The Origin of Wealth: Evolution, Complexity, and the Radical.

Inmate Perceptions of Financial Education Needs: Suggestions for Financial Educators

Science.gov (United States)

Call, Lindsay Larson; Dyer, W. Justin; Wiley, Angela R.; Day, Randal D.

2013-01-01

Recently, national attention has turned to the need for increased financial education, particularly for low-income populations. Incarcerated individuals represent a growing low-income group with unique needs that could likely benefit from financial education. However, few studies have examined the specific financial education needs of inmates,…

Financial assurances

International Nuclear Information System (INIS)

Paton, R.F.

1990-01-01

US Ecology is a full service waste management company. The company operates two of the nation's three existing low-level radioactive waste (LLRW) disposal facilities and has prepared and submitted license applications for two new LLRW disposal facilities in California and Nebraska. The issue of financial assurances is an important aspect of site development and operation. Proper financial assurances help to insure that uninterrupted operation, closure and monitoring of a facility will be maintained throughout the project's life. Unfortunately, this aspect of licensing is not like others where you can gauge acceptance by examining approved computer codes, site performance standards or applying specific technical formulas. There is not a standard financial assurance plan. Each site should develop its requirements based upon the conditions of the site, type of design, existing state or federal controls, and realistic assessments of future financial needs. Financial assurances at U.S. Ecology's existing sites in Richland, Washington, and Beatty, Nevada, have been in place for several years and are accomplished in a variety of ways by the use of corporate guarantees, corporate capital funds, third party liability insurance, and post closure/long-term care funds. In addressing financial assurances, one can divide the issue into three areas: Site development/operations, third party damages, and long-term care/cleanup

Financial Leverage and Corporate Performance: Does Financial Crisis Owe an Explanation?

Directory of Open Access Journals (Sweden)

Syed Jawad Hussain Shahzad

2015-04-01

Full Text Available The objective of this study is to investigate the impact of financial leverage on corporate financial performance of Pakistan’s textile sector from 1999-2012 using panel data. The leverage-performance relationship is examined with a special focus on the Global Financial Crisis of 2007-2008. Both accounting-based (Return on Assets - ROA and market-based (Tobin’s Q measures of corporate financial performance are used. Regression analysis is performed with and without inclusion of financial crisis dummy. Total Debt to Total Assets (TDTA, Long Term Debt to Total Assets (LDTA, Short Term Debt to Total Assets (SDTA and Debt to Equity (DE ratios are used as proxies for financial leverage whereas firm’s size and firm’s efficiency are used as control variables. The results indicate that financial leverage has a negative impact on corporate performance when measured with ROA. Whereas in case of Tobin’s Q, SDTA coefficient is positive. It can be concluded that since cost of borrowing is high in Pakistan and debt capital markets are less developed, firms are forced to resort to banks as their source of debt finance and thus have to repay huge amount of principal and interest which has a heavy toll on their financial health. In addition to this, financial crisis was found to have a negative impact on corporate performance and also affect the leverage-performance relationship.

Disaster Debris Recovery Database - Recovery

Data.gov (United States)

U.S. Environmental Protection Agency — The US EPA Disaster Debris Recovery Database (DDRD) promotes the proper recovery, recycling, and disposal of disaster debris for emergency responders at the federal,...

RATIONAL FINANCIAL BEHAVIOR OF POPULATION AS A PROSPERITY FACTOR OF FINANCIAL SECTOR

Directory of Open Access Journals (Sweden)

Sushko E. Yu.

2014-12-01

Full Text Available The rapid sophistication of the Russian financial system inevitably leads not only to the emergence of great opportunities for the development of the financial sector, as expressed in the opening of the new financial institutions or new financial products and services, but also a huge financial risks for companies of this sector, as expressed in the increase of population’s debts and the decline of trust in the financial sector. That is why special tools used in making management decisions about the development of the financial sector in a particular region acquires greater significance. On the basis of statistical data over the Volgograd region the author developed the model of initial attractiveness estimation of an area for business entities, reflecting the level of financial literacy and using the data from open sources of information. The article provides a brief introduction to the development of the methodology: from a theoretical substantiation of the original list of variables for analysis up to determine the regression equation. Obtained regression model can be used by entrepreneurs in case of expansion of their financial business to new areas and by regional governance whose aim is to increase the level of financial literacy.

Recovery in soccer : part ii-recovery strategies.

Science.gov (United States)

Nédélec, Mathieu; McCall, Alan; Carling, Chris; Legall, Franck; Berthoin, Serge; Dupont, Gregory

2013-01-01

In the formerly published part I of this two-part review, we examined fatigue after soccer matchplay and recovery kinetics of physical performance, and cognitive, subjective and biological markers. To reduce the magnitude of fatigue and to accelerate the time to fully recover after completion, several recovery strategies are now used in professional soccer teams. During congested fixture schedules, recovery strategies are highly required to alleviate post-match fatigue, and then to regain performance faster and reduce the risk of injury. Fatigue following competition is multifactorial and mainly related to dehydration, glycogen depletion, muscle damage and mental fatigue. Recovery strategies should consequently be targeted against the major causes of fatigue. Strategies reviewed in part II of this article were nutritional intake, cold water immersion, sleeping, active recovery, stretching, compression garments, massage and electrical stimulation. Some strategies such as hydration, diet and sleep are effective in their ability to counteract the fatigue mechanisms. Providing milk drinks to players at the end of competition and a meal containing high-glycaemic index carbohydrate and protein within the hour following the match are effective in replenishing substrate stores and optimizing muscle-damage repair. Sleep is an essential part of recovery management. Sleep disturbance after a match is common and can negatively impact on the recovery process. Cold water immersion is effective during acute periods of match congestion in order to regain performance levels faster and repress the acute inflammatory process. Scientific evidence for other strategies reviewed in their ability to accelerate the return to the initial level of performance is still lacking. These include active recovery, stretching, compression garments, massage and electrical stimulation. While this does not mean that these strategies do not aid the recovery process, the protocols implemented up until

Financial Planning and Financial Instruments: 2013 in Review, 2014 in Prospect

Directory of Open Access Journals (Sweden)

Mark Brimble

2013-09-01

Full Text Available The Global Financial Crisis (GFC; changes in regulation; issues in public perception and trust have contributed to a troubled 2013 for financial planners. As financial planning and wealth management providers seek to bolster their professional status, the Financial Planning Education Council’s National Curriculum and Accreditation Framework and ASIC’s minimum training requirements are also a space to watch. In prospect, 2014 will offer opportunities and challenges in the form of a changed government; regulatory changes; accreditation challenges and the hope of the recruitment of strong financial planning and wealth management professionals for the future.

Dynamics of the recovery of damaged tundra vegetation. Annual progress report

Energy Technology Data Exchange (ETDEWEB)

Amundsen, C.C.

1976-01-01

A study, begun in 1971, continues to document the environmental factors which affect the recovery of damaged tundra landscapes. A measurement technique was developed on Amchitka Island to allow the rapid acquisition of data on species presence and frequency across areas disturbed at various times and in various ways. Samples across all examples of aspect, slope steepness and exposure are taken. Studies now include Adak Island and the Point Barrow area. We have concluded that there was no directional secondary succession on the Aleutian tundra, although there was vigorous recovery on organic soils. Our study led to recommendations which resulted in less intensive reclamation management at a considerable financial saving and without further biological perturbation. Because of the increasing activity on tundra landscapes, for energy extraction, transportation or production, military or other reasons, we have expanded our sampling to other tundra areas where landscape disruption is occurring or is predicted.

Financial Statements in Providing Financial Security of Agricultural Enterprises

OpenAIRE

Olha Vdovenko

2014-01-01

In conditions of severe market competition and economic turmoil financial security of agricultural businesses largely depends on the effectiveness of management decisions, reporting being the information support to ensure such decision making. Thus, the practice of preparing accounting figures and their adjustment has a direct effect on agricultural businesses financial security. Having been generalized at the industry level, statistical and financial statements are used for the development o...

A Financial Literacy Measure: Gendering and Contextualising Financial Technicalities

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Asta Zokaityte

2016-03-01

Full Text Available This article analyses the relationship between law, gender, and finance, with a particular focus on gender inequalities in the financial literacy measure which was constructed by the Organisation for Economic Cooperation and Development (OECD. It seeks to trouble predominant claims about financial literacy as an effective, ‘edu-regulatory’ policy to address gender inequalities in the financial services market. The article suggests that instead of acting as a neutral assessment of people’s financial literacy, the measure, in fact, embodies gendered assumptions about finance and financial practices. The measure presents a financial world in abstract terms and fails to account for different contexts within which financial decisions are made. The article exposes the measure’s problematic deployment of the literacy/illiteracy binary in thinking about financial gender inequalities. Rather than being attentive to the ways in which gender inequalities are produced in financial markets, the OECD measure misattributes these to irrational financial behaviour, and further reproduces the marginalisation of women in the global financial market. Este artículo analiza la relación entre derecho, género y finanzas, realizando un enfoque particular en las desigualdades de género existentes en el estudio sobre los conocimientos financieros que elaboró la Organización para la Cooperación y el Desarrollo Económico (OCDE. Busca contrastar las afirmaciones dominantes sobre los conocimientos financieros como una política efectiva, “edu-reguladora” para abordar las desigualdades de género en el mercado de servicios financieros. El artículo sugiere que, en lugar de realizar una evaluación neutral de los conocimientos financieros de las personas, la medida plasma asunciones de género sobre las finanzas y las prácticas financieras. El estudio presenta un mundo financiero en términos abstractos y no tiene en cuenta los diferentes contextos en los

Financial Statements

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

Financial Statements and accompanying notes provided on .... to good governance principles. there is the risk that ...... responsibilities of the centre's internal auditor includes reviewing internal controls, including accounting and financial.

Financial Planning and Financial Instruments: 2013 in Review, 2014 in Prospect

OpenAIRE

Mark Brimble; Ciorstan Smark

2013-01-01

The Global Financial Crisis (GFC); changes in regulation; issues in public perception and trust have contributed to a troubled 2013 for financial planners. As financial planning and wealth management providers seek to bolster their professional status, the Financial Planning Education Council’s National Curriculum and Accreditation Framework and ASIC’s minimum training requirements are also a space to watch. In prospect, 2014 will offer opportunities and challenges in the form of ...

Volatility in financial markets: The impact of the global financial crisis

OpenAIRE

Valls Ruiz, Natàlia

2014-01-01

This dissertation focuses on volatility in financial markets, with a special concern for: (i) volatility transmission between different financial markets and asset categories and, (ii) the effect of macroeconomic announcements on the returns, volatility and correlation of stock markets. These issues are analysed taking into account the phenomenon of asymmetric volatility and incorporating the period of financial turmoil caused by the Global Financial Crisis. The study focuses the attention on...

The role of 'financial myths' in financial crises

OpenAIRE

Eric S. Rosengren

2011-01-01

Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the Boston University conference on The State of Financial Reform (panel on Lessons Learned from the Global Financial Meltdown), February 28, 2011, Boston, Massachusetts

Reserve growth during financial volatility in a technologically challenging world

Science.gov (United States)

Klett, Timothy R.; Gautier, Donald L.

2010-01-01

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

Improving Financial Literacy : case Study of Financial Education in Schools in Estonia

OpenAIRE

Rabtsinski, Deniss

2010-01-01

The thesis discusses the problem of low financial literacy levels that people have in today's world and how financial literacy levels can be improved through school education. It is identified that financial literacy is a complex problem requiring a complex solution (which is yet to be discovered). Financial education can only be part of this complex solution. Even so, financial education encounters similar problems as traditional education: the decay of knowledge and effective retention of l...

The Effects of Financial Education and Networks on Business Students' Financial Literacy

Science.gov (United States)

Chung, Yunhyung; Park, Youngkyun

2014-01-01

This study investigates the joint effects of financial education and educational networks on students' financial literacy. With a sample (N = 105) of senior students in a business college, the study finds that not only financial education, but also strong networks with professors, are positively related to the financial literacy of business…

THE EVOLUTION OF NON-BANKING FINANCIAL SERVICES IN ROMANIA WITHIN THE CONTEXT OF ECONOMIC RELAUNCHING

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CECILIA IRINA RABONTU

2014-12-01

Full Text Available In any stage of the evolution of an economy, but especially in a period of economic recovery funding needs may become a priority both for enterprises and for the population, which can be satisfied through institutions providing non-banking financial services. In case if companies cannot achieve an additional capital from shareholders, the need for funding can be achieved only through financial intermediation services and implicitly through the services that we treat in this paper. Lately non-banking financial services have witnessed an interesting evolution, which led us to realize an analysis of their dynamics in Romania in the period 2008-2013, for which we have used the studies of literature and statistical data provided by the National Institute of Statistics and the National Bank of Romania. In the year 2013 Romania recorded notable performances of the economy resulting in the decrease in inflation rate, improving the fiscal consolidation, adjustment of the current account deficit, which could influence the category of services we consider for discussion.

Are Financial Education Programs Meeting the Needs of Financially Disadvantaged Consumers?

OpenAIRE

Yunhee Chang; Angela Lyons

2007-01-01

This paper uses data collected from a retrospective pre-test to investigate he impact that a financial education program has on participants’ financial behaviors. Specifically, we compare program impact across participants with varying levels of financial competency prior to the program and examine whether the program is meeting the educational needs of those it was designed to target – namely, financially disadvantaged consumers. The findings show that the program benefited all of the partic...

Beyond the Screen: Uneven Geographies, Digital Labour, and the City of Cognitive-Cultural Capitalism

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Dillon Mahmoudi

2016-02-01

Full Text Available In this paper, we demonstrate that an examination of the socio-environmental impacts of digital ICTs remains a fruitless enterprise without “materializing” digital labour. We suggest one approach to materializing digital labour: this first includes connecting political economic analyses of digital ICTs to the co-evolution and geography of planetary urbanization and technological change, and second, examining the relationships between immaterial, digital, labour with the material industrial production system. In the context of broad changes in technology, social life, and urbanization, many scholars have theorized a shift towards a third phase of capitalism, beyond mercantilism and industrialism, based in immaterial, digital, and cognitive labour. We introduce the literature on cognitive-cultural capitalism and third-wave urbanization as markers of contemporary capitalism, producing uneven socio-spatial arrangements across the global-urban system. Synthesis of media and communication studies and political economies of urbanization suggests that both capital accumulation and the social lives of (planetary urban residents are increasingly mediated and structured by online, digital ICT platforms. We show that digital ICTs are sophisticated manipulations of nature that require and illuminate new ways of thinking about digital labour, and more broadly, of immaterial labour. We suggest that the immaterial labour associated with digital ICTs is actually material labour responsible for increasing the velocity of capital circulation, as a moment of production and an appendage of the growing complexity of third-phase capitalist industry and urbanization. The materiality of cognitive, cultural, and symbolic labour reaches beyond the city, invades the lifeworlds of a planet of urban residents, and excretes concrete, silicon, bits, servers, and energy waste producing an urban landscape beyond the city. Through an examination of data centres, we show the

Practical C++ financial programming

CERN Document Server

Oliveira, Carlos

2015-01-01

Practical C++ Financial Programming is a hands-on book for programmers wanting to apply C++ to programming problems in the financial industry. The book explains those aspects of the language that are more frequently used in writing financial software, including the STL, templates, and various numerical libraries. The book also describes many of the important problems in financial engineering that are part of the day-to-day work of financial programmers in large investment banks and hedge funds. The author has extensive experience in the New York City financial industry that is now distilled in

Financial Stability and Interacting Networks of Financial Institutions and Market Infrastructures

NARCIS (Netherlands)

Léon, C.; Berndsen, R.J.; Renneboog, L.D.R.

2014-01-01

An interacting network coupling financial institutions’ multiplex (i.e. multi-layer) and financial market infrastructures’ single-layer networks gives an accurate picture of a financial system’s true connective architecture. We examine and compare the main properties of Colombian multiplex and

FINANCIAL SYSTEM OF JAPAN: THE LEGAL REGULATION OF DISPUTES BETWEEN FINANCIAL SERVICES PROVIDERS AND CONSUMERS

Directory of Open Access Journals (Sweden)

E. E. Frolova

2018-01-01

Full Text Available Purpose: the article examines the main problems associated the regulatory acts of Japan – The Financial Instruments and Exchange Act, The Banking Act, The  Insurance Business Act, lists the types of financial disputes subject to alternative settlement, identified the parties to the financial dispute. To achieve this goal, the article must solve the following tasks: to determine whether there are institutions in Japan that provide services for resolving financial disputes; to investigate the main problems associated with the definition of the concept and types of financial dispute, the conditions for the transfer of a financial dispute to the competent authority.Methods: this article is based on an interdisciplinary concept of research, which allowed to distinguish the distinctive features of the legal regulation of the settlement of financial disputes in Malaysia.Results: acts of Japan – The Financial Instruments and Exchange Act, The Banking Act, The Insurance Business Act, – refer to financial disputes – disputes resolved by "Designated Dispute Resolution Organizations", the so-called "financial DDRO". Financial disputes are disputes between suppliers and consumers of financial services. The Financial Instruments and Exchange Act details the persons, whose activities fall within the definition of financial provider services. A brief list of financial service providers is available on the website of Japan's main financial regulator, the Financial Services Agency. The list include: Japanese banking institutions, branches and representative offices of foreign banks, business operators of financial instruments, insurance companies, trust companies, financial markets, foreign audit firms. However, unlike other countries of the Asia-Pacific region, consumers of financial services can be both physical and legal entities.Conclusions and Relevance: the materials presented in the article show the special role of "Designated Dispute Resolution

Forecasting Financial Stress

OpenAIRE

Jan Willem Slingenberg; Jakob de Haan

2011-01-01

This paper uses a Financial Stress Index (FSI) for 13 OECD countries to examine which variables can help predicting financial stress. A stress index measures the current state of stress in the financial system and summarizes it in a single statistic. We employ three criteria for indicators to be used in constructing a multi-country FSI (the index covers the entire financial system, indicators used are available at a high frequency for many countries for a long period, and are comparable) to c...

Financial Policies and the Prevention of Financial Crises in Emerging Market Economies

OpenAIRE

Mishkin, Frederic S.

2001-01-01

The author defines a financial crisis as a disruption in financial markets in which adverse selection and moral hazard problems become much worse, so that financial markets are unable to efficiently channel funds to those who have the most productive investment opportunities. As financial markets become unable to function efficiently, economic activity sharply contracts. Factors that promote ...

INNOVATIONS IN FINANCIAL ANALYTICS

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T. V. Teplova

2012-01-01

Full Text Available In this paper as the main feature of innovation in the financial health of a company analyst view the shift to two circuits of key interests of owners of capital (financial stakeholders. Justifi ed by differences key financial systems within the contour ownership interest and the lender three projections: liquidity, the current economic efficiency and growth. In the paper as the main feature of the innovation in the analysis of the financial health of a company is considered a transition to the two circuits of the interests of the key owners of financial capital (financial stakeholders. Justifi ed differences of key financial indicator systems in the framework of the outline of the interests of the owner and the lender by three projections: liquidity, efficiency and the quality of growth. The examples of Russian companies have different interpretations of financial targets and indicators with a choice of activities.

Integrating Physical Actions and Financial Instruments to Manage Environmental Financial Risk

Science.gov (United States)

Foster, B.

2016-12-01

Exposure to extreme weather events can be reduced through physical actions (e.g., dams/reservoirs) or mitigated financially (e.g., insurance). Often physical actions involve investments in expensive infrastructure that reduce exposure, but whose benefits are only occasionally realized. Financial risk management does not reduce the impacts of an event, but rather redistributes them temporally, albeit at a cost. Nonetheless, these costs are typically much smaller, at least in the short run, than those incurred for physical actions. Financial strategies are also more flexible than physical ones in the face of an uncertain future. Financial contracts specifically designed to manage extreme environmental risks are becoming more common and can either replace or complement infrastructural investments as part of a risk management portfolio. In order to make optimal decisions as to the relative levels of physical and financial risk mitigation to employ, it is necessary to understand the relative merits of each strategy. This research develops a method for analyzing tradeoffs between physical and financial risk management strategies. We identify the unique cost and benefit properties of each strategy and integrate them into a single model that details the tradeoffs involved in various portfolios of physical and financial strategies. These methods are then applied to evaluate decisions to pursue emergency dredging during drought on the Mississippi River, which is used to mitigate the increased costs and/or reduced revenues barge operators face when water levels are low. Currently the U.S. Army Corps of Engineers funds most emergency dredging operations during major droughts and they are considering more intensive strategies for future droughts. Barge carriers and shippers though could manage at least some portion of their financial risks through a series of existing and experimental financial contracts. This work involves the formulation of these experimental contracts and

77 FR 27381 - Financial Crimes Enforcement Network: Customer Due Diligence Requirements for Financial...

Science.gov (United States)

2012-05-10

...-AB15 Financial Crimes Enforcement Network: Customer Due Diligence Requirements for Financial... concerning customer due diligence requirements for financial institutions. DATES: Written comments on the... customer due diligence requirements for financial institutions.\\1\\ FinCEN received several comments on the...

Enron: a financial Tchernobyl?; Enron: un Tchernobyl financier?

Energy Technology Data Exchange (ETDEWEB)

Nicolet, J.L. [Expert Judiciaire, Pres la Cours d' Appel de Versailles, 78 (France); Alazard, C.; Charron, J.L. [Professeurs agreges d' Economie et Gestion, DECF, Lycee de Sevres, 92 (France)

2004-07-01

ENRON is almost more striking as an epitome, a model, than as a scandal. It is the perfect illustration of the occurrence of a major financial risk with strong contaminating repercussions. Close examination of the measures taken after this scandal, and the many other scandals (WorldCom, Vivendi etc.) which followed it, indicates that financial risk does not only, as might be imagined on more superficial analysis, take its roots in fraudulent behaviour. On the contrary, fraudulent behaviour appears merely to act as a catalyst. The authors suggest that a global approach integrating the concepts of industrial risk management provides a far more appropriate prism through which to interpret and develop effective controls for financial risks. After recalling the main facts, they apply the concepts of cindynics (the science of danger) to the Enron case and rapidly reach a first major conclusion: the financial system does not have its foundations in any reliable system of measurement. (authors)

Alterations of hippocampal glucose metabolism by even versus uneven medium chain triglycerides

Science.gov (United States)

McDonald, Tanya S; Tan, Kah Ni; Hodson, Mark P; Borges, Karin

2014-01-01

Medium chain triglycerides (MCTs) are used to treat neurologic disorders with metabolic impairments, including childhood epilepsy and early Alzheimer's disease. However, the metabolic effects of MCTs in the brain are still unclear. Here, we studied the effects of feeding even and uneven MCTs on brain glucose metabolism in the mouse. Adult mice were fed 35% (calories) of trioctanoin or triheptanoin (the triglycerides of octanoate or heptanoate, respectively) or a matching control diet for 3 weeks. Enzymatic assays and targeted metabolomics by liquid chromatography tandem mass spectrometry were used to quantify metabolites in extracts from the hippocampal formations (HFs). Both oils increased the levels of β-hydroxybutyrate, but no other significant metabolic alterations were observed after triheptanoin feeding. The levels of glucose 6-phosphate and fructose 6-phosphate were increased in the HF of mice fed trioctanoin, whereas levels of metabolites further downstream in the glycolytic pathway and the pentose phosphate pathway were reduced. This indicates that trioctanoin reduces glucose utilization because of a decrease in phosphofructokinase activity. Trioctanoin and triheptanoin showed similar anticonvulsant effects in the 6 Hz seizure model, but it remains unknown to what extent the anticonvulsant mechanism(s) are shared. In conclusion, triheptanoin unlike trioctanoin appears to not alter glucose metabolism in the healthy brain. PMID:24169853

LEGISLATIVE STUDY ON THE GOVERNMENT REGULATION ON SOME ECONOMIC RECOVERY MEASURES

Directory of Open Access Journals (Sweden)

BOSTAN Ionel

2014-06-01

Full Text Available This paper addresses the most significant elements related to the direct enactment by the executive authority – following the most difficult moments of the financial crisis (2009-2010 – of some key measures in determining the economic recovery/growth. Special attention is given to the problem of growth strengthening and sustainable competitiveness of small and medium enterprises, as well as to the issue of stimulating the set up and development of micro enterprises by junior entrepreneurs. Considering things from the legal perspective, we also stop upon the legislative measures taken by the Government to support SME access to financial guarantees and credits. Obviously, in the context following the peak of the financial crisis, we took into consideration the regulation on stimulating the development of new jobs and the regime of state aids, as well. This latter issue includes, we believe, the most important references to State aid schemes on stimulating the investments with a major impact in the economy, the ‘de minimis’ aid for the investments made by small and medium-sized enterprises, and also to the issues arising from the implementation of a State aid scheme to support the investments which promote the regional development by creating jobs.

SEGMENT OF FINANCIAL CORPORATIONS AS AN OBJECT OF FINANCIAL AND STATISTICAL ANALYSIS

OpenAIRE

Marat F. Mazitov

2013-01-01

The article is devoted to the study specific features of the formation and change of economic assets of financial corporations as an object of management and financial analysis. He author identifies the features and gives the classification of institutional units belonging to the sector of financial corporations from the viewpoint of assessment and financial analysis of the flows, reflecting change of their assets.

INCREASE IN THE ROLE OF THE FINANCIAL SYNTHESIS REPORTS FOR ACCESSION OF THE EUROPEAN STRUCTURAL FUNDS

Directory of Open Access Journals (Sweden)

Droj Laurentiu

2011-07-01

Full Text Available European integration is supported through important financial resources in order to sustain the investment effort for aligning the business infrastructure and increase in the business competitiveness in order to fulfill the European Union standards. The financial management, a basic component of the general management, has as scope to realize complex financial analysis in order to substantiate the decisions for investments and financing which should ensure the maximization of results, ensuring also the elaboration of the project budget as an essential document in the identification of the needs for resources and for obtaining the non-reimbursable financial sources. An essential role in the investment decision making, having as support European funding, is realized by the financial-accounting reporting documents such as balance sheet, profit and loss account, table of the treasury flows, which together with a realistic established actualization rate ensures the relevance and efficiency of the financial indicators: Net present Value(NPV, Internal Rate of Return(IRR, the investment recovery period, the benefit/cost ratio. This study has as its goal to realize a critical analysis over the main simulation methods and techniques for forecasting annual return based on its growth rate, which should ensure the success of the implementation and operation of an investment realized through European structural funds respecting also the requirements for minimization of risks. In this research it is shown the importance of proper generation/modeling of the annual turnover in an investment project. Several methods were presented and case study was realized. Since the annual turnover constitutes the basis for the entire financial analysis it is very important that a realistic growth rate is used. Otherwise the provisions within the financial analysis of the investment (including CBA, the project implementation strategy and later the plan for the utilization of

Marketing Financial Aid

Science.gov (United States)

Huddleston, Thomas, Jr.; Batty, Burt F.

1978-01-01

Student financial assistance services are becoming a major part of the institutional marketing plan as traditional college-age students decline in numbers and price competition among institutions increases. The effect of financial aid on enrollment and admissions processes is discussed along with the role of the financial aid officer. (Author/LBH)

Editorial: AABFJ Volume 8, Issue 4 Special Issue in Financial Markets and Financial Instruments

Directory of Open Access Journals (Sweden)

Ciorstan Smark

2014-10-01

Full Text Available Financial planning in Australia is in a time of change and challenge. Educational standards and regulation are in flux. There is a strong need to move financial planning into a more esteemed professional position as financial planners are not always considered the safest source of advice for people in Asia and the pacific rim when it comes to investing their much needed retirement funds. This Special Issue on Financial Planning and Financial Instruments brings together articles from financial planning, banking, financial markets and retirement policy.

Gastrointestinal Stromal Tumor of the Stomach with Narrow Stalk-Like Based, Uneven Protruding Appearance Presenting with Severe Acute Anemia despite Small Size

Directory of Open Access Journals (Sweden)

Tomomitsu Tahara

2010-03-01

Full Text Available We report the case of a 56-year-old woman who had a gastrointestinal stromal tumor (GIST of the stomach. She was admitted to our hospital for epigastric pain, nausea, and severe acute anemia (hemoglobin level 4.3 g/dl. Esophagogastroduodenoscopy revealed a narrow stalk-like based, hemorrhagic and uneven protruding lesion in the lesser curvature of the gastric upper corpus. Although the tumor was less than 2 cm in diameter and was probably a benign GIST according to histology, laparoscopy-assisted local resection was needed because the patient had continuous severe anemia and epigastric pain. Histological assessment showed that the elongated spindle-like tumor cells originated from the intrinsic muscle layer, and was shown with growth to the mucosal side, cropping out to the surface in most areas of the protruding lesion. Only a small part of the tumor was within nontumoral gastric mucosa. Most of the tumor cells demonstrated immunoreactivity for KIT and CD34 in the cytoplasm but not for αSMA, S100, and desmin. Mitotic activity (0/50 high power field and the labeling index for MIB-1 (about 1% were low. The GIST of the stomach described in this report was a rare case with a narrow stalk-like based, uneven protruding mass presenting with severe acute anemia despite small size.

Financial Consumption and the Cost of Finance: Measuring Financial Efficiency in Europe (1950-2007)

OpenAIRE

Bazot, Guillaume

2014-01-01

This paper proposes to assess financial intermediation efficiency in Germany, France, the UK, and Europe more broadly, over the past 60 years. I rely on Philippon's (2012) methodology, which calculates the unit cost of financial intermediation through the ratio of 'financial consumption' | measured by financial income | to 'financial output' | approximated by the sum of outstanding assets intermediated. The contribution of this paper is threefold. First, because financial industry VA ignores ...

Domesticizing Financial Economies

DEFF Research Database (Denmark)

Deville, Joe; Lazarus, Jeanne; Luzzi, Mariana

show. Third, the “domestication of financial economies”: financial literacy programs developed by governmental bodies, international organizations, and banks have become a ubiquitous layer attached to the assemblage of financial economies in many countries. And last but not least, “domesticizing social...... practices as well as the precise way financial providers are evaluating, sorting and targeting their consumers. We believe these diverse trends are starting to converge, and the ambitions of this paper are both to organize scattered literature and to reflect upon the consequences of the new field...

Narrative Financial Therapy: Integrating a Financial Planning Approach with Therapeutic Theory

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Megan A. McCoy

2014-03-01

Full Text Available The article serves as one of the first attempts to develop an integrated theoretical approach to financial therapy that can be used by practitioners from multiple disciplines. The presented approach integrates the components of the six-step financial planning process with components of empirically-supported therapeutic methods. This integration provides the foundation for a manualized approach to financial therapy, shaped by the writings of narrative theorists and select cognitive-behavioral interventions that can be used both by mental health and financial professionals.

Opinion on the new financial products issued by financial institutions - structured products

Directory of Open Access Journals (Sweden)

Baranga Laurentiu Paul

2017-07-01

Full Text Available Structured products are financial instruments issued by a financial institution where the amount claimed by the investor from the issuer depends on the variation of the price of the underlying instrument based on which the certificate is issued, namely: individual shares, share costs, stock indexes, currencies, commodities or combinations of these according to the prospectus. These products appeared with the development and diversification of financial services during the recent years, as well as due to the emergence of liquidity suppliers of international importance. The liquidity providers have developed on their own platforms a new range of derivatives which are different from the classical derivatives. These new derivatives, similar to contracts for difference (CFDs, have given to other institutions the possibility of transferring their risk more easily, regardless of the nature or type of the underlying asset. Thus, the financial institutions issuing structured financial products have found in liquidity providers the possibility of developing the CFDs required for their risk transfer operations. The issuers of structured products do not accept new risky positions when they issue certificates because they neutralize them through suitable risk transfer operations. The issuing financial institutions structure certificates from a variety of financial assets and/or commodities in order to adjust them to the various risk profiles of investors both in terms of expected return and in terms of the response to risk. Thus, products are issued that quickly respond to the trends of the financial or commodity markets. Investors in structured financial products benefit from the economic effect of a derivative but are exposed to financial risks that are more complex and more difficult to understand and at the same time depend on the reliability and stability of the contractual relationships between various financial institutions.

The Effect Of Intangible Asset Financial Performance And Financial Policies On The Firm Value

OpenAIRE

Rindu Rika Gamayuni

2015-01-01

Abstract The purpose of this study is to test empirically the relationship between intangible assets financial policies and financial performance to the firm value at going-public company in Indonesia. Path analysis was used to ascertain the relationship between intangible assets financial policies financial performance and firm value at going-public company in Indonesia in the year 2007 to 2009. This study also provides empirical evidence that Intangible assets financial policies financial p...

Dynamics of the recovery of damaged tundra vegetation. Annual progress report

International Nuclear Information System (INIS)

Amundsen, C.C.

1975-01-01

A study, begun in 1971, has been undertaken to determine the environmental factors which affect the recovery of damaged tundra vegetation. A sampling technique was developed on Amchitka Island to allow the rapid acquisition of data on species presence and frequency across areas disturbed at various times and in various ways. Attempts were made to sample across all examples of aspect, slope steepness and exposure. The data were analyzed and we concluded that there was no directional secondary succession on the Amchitka tundra, although there was vigorous recovery on organic soils. The study led to recommendations which resulted in a smaller effort than planned to reclaim damaged areas by seeding and fertilizing at a considerable financial saving and without further biological perturbation. Because of the increasing activity on tundra landscape, whether for energy production, or military or other reasons, we are expanding our sampling to other tundra areas. Immediate plans include sampling at Adak Island and Barrow, Alaska. (U.S.)

Trusts and Financialization

DEFF Research Database (Denmark)

Harrington, Brooke

2017-01-01

the global spread of financialization: by privileging the rentier–investor within the 15 world economy; by perpetuating a distinctively Anglo-American approach to finance internationally; and by increasing the autonomy of finance vis-a-vis the nation-state. This study shares the primarily descriptive......This article identifies trusts as a legal structure associated with the global spread of financialization. Although trusts originated in Medieval England, they have acquired a new significance in contemporary finance by virtue of their advantages in terms of 10 profit maximization and capital...... and conceptual intent of Krippner’s work on financialization, but extends it in two ways: by comparing trusts to the better- known corporate form of organizing financial activity, and by showing how private 20 capital is implicated in the financialized economy alongside corporate wealth....

Financial decision-making abilities and financial exploitation in older African Americans: Preliminary validity evidence for the Lichtenberg Financial Decision Rating Scale (LFDRS).

Science.gov (United States)

Lichtenberg, Peter A; Ficker, Lisa J; Rahman-Filipiak, Annalise

2016-01-01

This study examines preliminary evidence for the Lichtenberg Financial Decision Rating Scale (LFDRS), a new person-centered approach to assessing capacity to make financial decisions, and its relationship to self-reported cases of financial exploitation in 69 older African Americans. More than one third of individuals reporting financial exploitation also had questionable decisional abilities. Overall, decisional ability score and current decision total were significantly associated with cognitive screening test and financial ability scores, demonstrating good criterion validity. Study findings suggest that impaired decisional abilities may render older adults more vulnerable to financial exploitation, and that the LFDRS is a valid tool.

Distribution of elements in needles of Pinus massoniana (Lamb.) was uneven and affected by needle age

International Nuclear Information System (INIS)

Kuang Yuanwen; Wen Dazhi; Zhou Guoyi; Liu Shizhong

2007-01-01

Macronutrients (P, S, K, Na, Mg, Ca), heavy metals (Fe, Zn, Mn, Cu, Pb, Cr, Ni, Cd) and Al concentrations as well as values of Ca/Al in the tip, middle, base sections and sheaths of current year and previous year needles of Pinus massoniana from Xiqiao Mountain were analyzed and the distribution patterns of those elements were compared. The results indicated that many elements were unevenly distributed among the different components of needles. Possible deficiency of P, K, Ca, Mn and Al toxicity occurred in needles under air pollution. Heavy metals may threaten the health of Masson pine. Needle sheaths were good places to look for particulate pollutants, in this case including Fe, Cu, Zn, Pb, Cr, Cd and Al. - Pine needle sections as bioindicator for heavy metals and nutrient deficiency particularly needle sheath for particle pollutants

Distribution of elements in needles of Pinus massoniana (Lamb.) was uneven and affected by needle age

Energy Technology Data Exchange (ETDEWEB)

Kuang Yuanwen [Institute of Ecology, South China Botanical Garden, Chinese Academy of Sciences, 510650 Guangzhou (China)]. E-mail: kuangyw@scbg.ac.cn; Wen Dazhi [Institute of Ecology, South China Botanical Garden, Chinese Academy of Sciences, 510650 Guangzhou (China)]. E-mail: dzwen@scbg.ac.cn; Zhou Guoyi [Institute of Ecology, South China Botanical Garden, Chinese Academy of Sciences, 510650 Guangzhou (China)]. E-mail: gyzhou@scbg.ac.cn; Liu Shizhong [Institute of Ecology, South China Botanical Garden, Chinese Academy of Sciences, 510650 Guangzhou (China)]. E-mail: lsz@scbg.ac.cn

2007-01-15

Macronutrients (P, S, K, Na, Mg, Ca), heavy metals (Fe, Zn, Mn, Cu, Pb, Cr, Ni, Cd) and Al concentrations as well as values of Ca/Al in the tip, middle, base sections and sheaths of current year and previous year needles of Pinus massoniana from Xiqiao Mountain were analyzed and the distribution patterns of those elements were compared. The results indicated that many elements were unevenly distributed among the different components of needles. Possible deficiency of P, K, Ca, Mn and Al toxicity occurred in needles under air pollution. Heavy metals may threaten the health of Masson pine. Needle sheaths were good places to look for particulate pollutants, in this case including Fe, Cu, Zn, Pb, Cr, Cd and Al. - Pine needle sections as bioindicator for heavy metals and nutrient deficiency particularly needle sheath for particle pollutants.

Distribution of elements in needles of Pinus massoniana (Lamb.) was uneven and affected by needle age

Energy Technology Data Exchange (ETDEWEB)

Kuang Yuanwen [South China Botanical Garden, Chinese Academy of Sciences, 510650 Guangzhou (China)]. E-mail: kuangyw@scbg.ac.cn; Wen Dazhi [South China Botanical Garden, Chinese Academy of Sciences, 510650 Guangzhou (China)]. E-mail: dzwen@scbg.ac.cn; Zhou Guoyi [South China Botanical Garden, Chinese Academy of Sciences, 510650 Guangzhou (China)]. E-mail: gyzhou@scbg.ac.cn; Liu Shizhong [South China Botanical Garden, Chinese Academy of Sciences, 510650 Guangzhou (China)]. E-mail: lsz@scbg.ac.cn

2007-02-15

Macronutrients (P, S, K, Na, Mg, Ca), heavy metals (Fe, Zn, Mn, Cu, Pb, Cr, Ni, Cd,) and Al concentrations as well as values of Ca/Al in the tip, middle and base sections, and sheaths of current year and previous year needles of Pinus massoniana from Xiqiao Mountain were analyzed and the distribution patterns of those elements were compared. The results indicated that many elements were unevenly distributed among the different components of needles. Possible deficiency of P, K, Ca, Mn and Al toxicity occurred in needles under air pollution. Heavy metals may threaten the health of Masson pine. Needle sheaths were good places to look for particulate pollutants, in this case including Fe, Cu, Zn, Pb, Cr, Cd and Al. - Pine needle sections as bioindicator for heavy metals and nutrient deficiency particularly needle sheath for particle pollutants.

Distribution of elements in needles of Pinus massoniana (Lamb.) was uneven and affected by needle age

International Nuclear Information System (INIS)

Kuang Yuanwen; Wen Dazhi; Zhou Guoyi; Liu Shizhong

2007-01-01

Macronutrients (P, S, K, Na, Mg, Ca), heavy metals (Fe, Zn, Mn, Cu, Pb, Cr, Ni, Cd,) and Al concentrations as well as values of Ca/Al in the tip, middle and base sections, and sheaths of current year and previous year needles of Pinus massoniana from Xiqiao Mountain were analyzed and the distribution patterns of those elements were compared. The results indicated that many elements were unevenly distributed among the different components of needles. Possible deficiency of P, K, Ca, Mn and Al toxicity occurred in needles under air pollution. Heavy metals may threaten the health of Masson pine. Needle sheaths were good places to look for particulate pollutants, in this case including Fe, Cu, Zn, Pb, Cr, Cd and Al. - Pine needle sections as bioindicator for heavy metals and nutrient deficiency particularly needle sheath for particle pollutants

Rates of credit obligations compliance on IFRS financial statement as a factor of financial stability

Directory of Open Access Journals (Sweden)

O. V. Uvarova

2016-01-01

Full Text Available For the purposes of effective management of economic activity of the entities of insufficiently own accounting information. For objective assessment of a financial and economic provision of the entity it is necessary to pass from separate accounting data to certain valuable ratios of major factors – to financial performance or financial ratios. Calculation and interpretation of their values the integral and essentially necessary part of a financial analysis, especially it is important if the company has credit liabilities. Conditions of credit agreements often include accomplishment of credit covenants which represent restrictions for activities and a financial position of the company in addition to timely settlement of percent and a body of the credit and provide to lessors a certain level of safety from bankruptcy of the debtor. The article considers the covenants and financial covenants definitions; the main financial covenants containing in credit agreements between large banks and borrowers; data on structure of a credit portfolio and financial debt of NLMK as at June 30, 2016; the main financial covenants containing in credit agreements of the companies of NLMK Group; definitions and formulas of calculation of financial rates based on the IFRS financial statement; calculation of covenants on the example of IFRS consolidated financial statements of NLMK; subtleties of calculation of financial rates; the main differences of financial rates calculation based on the financial statements prepared on the different principles; conclusion about stability and a financial condition of NLMK by the results received during calculation financial covenants as at end of the first half of the year 2016.

The usage of financial derivatives in financial risk management by non- financial companies in Serbia

Directory of Open Access Journals (Sweden)

Živanović Branko

2017-01-01

Full Text Available In this paper we analyse the research results on corporate risk management practices, notably in light of the derivatives use in the large Serbian non-financial companies. The principal aim of this paper is to examine whether Serbian companies employ derivatives to manage risk and to what degree, and to explore the main rationale behind the companies' not employing these instruments, as well as to suggest possible enhancements of risk management practices. Furthermore, we have investigated the key reasons why financial derivatives are very useful for Serbian companies for hedging financial risks. Additionally, this paper provides a comparative overview of the use of derivatives between Serbian companies and the companies in Croatia and Slovenia in order to ascertain whether Serbian companies employ derivatives in order to manage risk to the same degree as their Croatian and Slovenian counterparts. This paper will include findings and provide evidence that FX rate and referent interest rates (such as 1w- 2w repo rate, Beonia and Belibor are markedly volatile, which opens vast possibilities for the use of financial derivatives, given that these financial parameters determine the price of a credit arrangement for companies and the quality of import and export cash flows.

The Geography of Financial Literacy

Directory of Open Access Journals (Sweden)

Christopher Bumcrot

2013-07-01

Full Text Available This paper explores how well equipped today’s households are to make complex financial decisions in the face of often high-cost and high-risk financial instruments. Specifically we focus on financial literacy. Most importantly, we describe the geography of financial literacy, i.e., how financial literacy is distributed across the fifty US states. We describe the correlation of financial literacy and some important aggregate variables, such as state-level poverty rates. Finally, we examine the extent to which differences in financial literacy can be explained by states’ demographic and economic characteristics. To assess financial literacy, five questions were added to the 2009 National Financial Capability Study, covering fundamental concepts of economics and finance encountered in everyday life: simple calculations about interest rates and inflation, the workings of risk diversification, the relationship between bond prices and interest rates, and the relationship between interest payments and maturity in mortgages. We constructed an index of financial literacy based on the number of correct answers provided by each respondent to the five financial literacy questions. The financial literacy index reveals wide variation in financial literacy across states. Much of the variation is attributable to differences in the demographic makeup of the states; however, a handful of states have either higher or lower levels of financial literacy than is explained by demographics alone. Also, there is a significant correlation between the financial literacy of a state and that state’s poverty level. The findings indicate directions for policy makers and practitioners interested in targeting areas where financial literacy is low.

Presenting practice financial information.

Science.gov (United States)

Webster, Lee Ann H

2007-01-01

Medical practice leadership teams, often consisting primarily of physicians with limited financial backgrounds, must make important business decisions and continuously monitor practice operations. In order to competently perform this duty, they need financial reports that are relevant and easy to understand. This article explores financial reporting and decision-making in a physician practice. It discusses reports and tools, such as ratios, graphs, and comparisons, that practices typically include in their reports. Because profitability and cash flow are often the most important financial considerations for physician practices, reports should generally focus on the impact of various activities and potential decisions upon these concerns. This article also provides communication tips for both those presenting practice financial information and those making the decisions. By communicating effectively, these leaders can best use financial information to improve decision-making and maximize financial performance.

Financial Learning: Is It The Effective Way to Improve Financial Literacy among Accounting Students?

Directory of Open Access Journals (Sweden)

Herawati Nyoman Trisna

2018-01-01

Full Text Available The aims of this study are to determine: the difference of financial literacy level between students who have had experience in financial learning and who have not had experience in financial learning. The data for this study was collected through financial literacy test and questionnaire which was distributed through randomized sampling method. A total of 173 completed and usable questionnaire have been collected. The result shows that the level of financial literacy among accounting students comes under below optimal standard category. Students who have had financial learning experience have a higher level of financial literacy than students who have not. This study provides means to improve financial learning for accounting students in preparation for creating a prosperous future.

17 CFR 229.914 - (Item 914) Pro forma financial statements: selected financial data.

Science.gov (United States)

2010-04-01

... statements: selected financial data. 229.914 Section 229.914 Commodity and Securities Exchanges SECURITIES... Transactions § 229.914 (Item 914) Pro forma financial statements: selected financial data. (a) In addition to... statements are required. (c) The pro forma financial statements required by paragraph (b) of this Item (§ 229...

Need depriving effects of financial insecurity: Implications for well-being and financial behaviors.

Science.gov (United States)

Weinstein, Netta; Stone, Dan N

2018-06-28

Evidence suggests that experiencing financial insecurity lowers well-being and increases problematic financial behaviors. The present article employs a self-determination theory (SDT; R. M. Ryan & Deci, 2000a) perspective to understand the mechanisms by which experiencing financial insecurity contributes to these detrimental outcomes. Informed by SDT, we expected that the basic psychological needs for autonomy, competence, and relatedness would drive these effects. Studies were concerned with individuals' general experiences of financial insecurity (using community samples; Studies 1 and 2), and employed manipulations involving self-reflection (Study 3) and hypothetical scenarios (Study 4). Findings demonstrated that financially insecure conditions undermined basic psychological needs and lowered well-being (measured in terms of self-esteem, depression, and anxiety). In addition, lower satisfaction of basic psychological needs linked financial insecurity to a greater likelihood of engaging in financial cheating (Studies 2 and 3) and risky financial decisions (Study 4). Importantly, this pattern of effects remained in evidence across socioeconomically diverse samples and income levels. We discuss implications for future interventions to improve the wellness of individuals in financially insecure circumstances. (PsycINFO Database Record (c) 2018 APA, all rights reserved).

The Effect Of Intangible Asset Financial Performance And Financial Policies On The Firm Value

Directory of Open Access Journals (Sweden)

Rindu Rika Gamayuni

2015-01-01

Full Text Available Abstract The purpose of this study is to test empirically the relationship between intangible assets financial policies and financial performance to the firm value at going-public company in Indonesia. Path analysis was used to ascertain the relationship between intangible assets financial policies financial performance and firm value at going-public company in Indonesia in the year 2007 to 2009. This study also provides empirical evidence that Intangible assets financial policies financial performance have significant influence to the firm value simultaneously. Intangible assets has no significant influence to financial policies but has positive and significant influenced to financial performance ROA and firm value. Debt policies and financial performance ROA influenced firm value positive and significant. Financial statements limitation in measuring and disclosing intangible assets is the cause of significant difference between book value equity and market value equity. Measurement and disclosure of intangible assets intellectual capital precisely and aqurately is very important because intangible assets have a positive and significant effect to the firm value. Accounting standards should be concerned about this.

Coping with Financial Crises: Latin American Answers to European Questions

Directory of Open Access Journals (Sweden)

Eduardo A.Cavallo

2013-06-01

Full Text Available Europe faces challenges reminiscent of Latin American financial crises, namely unsustainable sovereign spreads, banking system distress, sudden stops in capital flows and growth rate collapse. The failure of recent liquidity support to normalize the situation suggests the need to refocus the policy debate on fundamentals: structural reform for growth and, where needed, restructuring to resolve banking crises and the debt overhang.  Latin America’s experience yields relevant policy lessons for Europe on all these fronts, tempered only by the slight exception that sharp real devaluation, which was key to spearheading recovery in Latin America, is unfeasible in the eurozone. Struggling eurozone countries are caught between a rock and a hard place, as the currency union imposes strict policy constraints while the reintroduction of national currencies under conditions of crisis would be catastrophic. Nevertheless, contemporary Europe stands a better chance of recovery because, in contrast with the Latin America experience, the European Union possesses greater avenues for international cooperation. With respect to financial support, a resourceful European Central Bank able to avoid chaotic adjustment by brute force is a decisive advantage of Europe relative to Latin America, which only had access to the weaker and less reliable IMF. Arguably, the limited nature of external support strongly contributed to the depth of Latin America’s great collapses. European cooperation can explore and exhaust alternatives to a euro exit to the benefit of all union members and, if dissolution becomes unavoidable, ensure amicable support to ease the transition. The path to success remains uncharted, however, and implementation of the necessary regional mechanisms will require innovation and political will. If the available means of cooperation are not used effectively, crisis countries in Europe may fare worse than those in Latin America.

THE FINANCIAL CRISIS IN EUROPE AND IN ROMANIA. FEATURES AND COMBATING MEASURES

Directory of Open Access Journals (Sweden)

Magdalena RĂDULESCU

2016-11-01

Full Text Available The crisis triggered in 2007-2008 in the USA and then globally manifested strongly and affected many areas and categories of people. Through its specific features, it proved that the current regulatory system is no longer viable and it has to be reformed so that in the future to alleviate some of the negative effects felt in the context of the last international financial and economic crisis. The measures adopted were aimed at the fiscal, monetary and the income policy. Only used in combination, these policies proved effective under crisis conditions and determined the economic recovery.

Recovery of mercury and other metals from used dry battery cells -the CJC demonstration plant in Hokkaido, Japan

Energy Technology Data Exchange (ETDEWEB)

Hirayama, Naomichi; Gotoh, Sukehiro; Yajima, Takenori

1987-01-01

The present paper deals with a project associated with the Clean Japan Center Demonstration plant, which was financially supported by the National Government and constructed recently at Itomuka, Hokkaido, for the purpose of the proper disposal of and resource recovery from mainly used dry battery cells or wastes containing mercury (Hg) and other hazardous substances. The process details are also given.

Recovery from schizophrenia and the recovery model.

Science.gov (United States)

Warner, Richard

2009-07-01

The recovery model refers to subjective experiences of optimism, empowerment and interpersonal support, and to a focus on collaborative treatment approaches, finding productive roles for user/consumers, peer support and reducing stigma. The model is influencing service development around the world. This review will assess whether optimism about outcome from serious mental illness and other tenets of the recovery model are borne out by recent research. Remission of symptoms has been precisely defined, but the definition of 'recovery' is a more diffuse concept that includes such factors as being productive and functioning independently. Recent research and a large, earlier body of data suggest that optimism about outcome from schizophrenia is justified. A substantial proportion of people with the illness will recover completely and many more will regain good social functioning. Outcome is better for people in the developing world. Mortality for people with schizophrenia is increasing but is lower in the developing world. Working appears to help people recover from schizophrenia, and recent advances in vocational rehabilitation have been shown to be effective in countries with differing economies and labor markets. A growing body of research supports the concept that empowerment is an important component of the recovery process. Key tenets of the recovery model - optimism about recovery from schizophrenia, the importance of access to employment and the value of empowerment of user/consumers in the recovery process - are supported by the scientific research. Attempts to reduce the internalized stigma of mental illness should enhance the recovery process.

FINANCIAL MANAGEMENT OF THE COMPANY THROUGH THE CAPITALIZATION OF FINANCIAL-ACCOUNTING INFORMATION

OpenAIRE

Boby COSTI; Marius BOIŢĂ; Cosmina REMEŞ

2014-01-01

This article aims to highlight the role of financial-accounting information for the use in the financial management of the company, starting from the most recent writings in the field. Although it is hard to imagine that the financial management uses individualized financial- accounting information, attributed solely to a particular activity within the enterprise, still we tried to address the information according to the main activities that produce and use information, respectively: of inve...

FINANCIAL COMUNICATION THROUGH THE FINANCIAL STATEMENTS ACORDING TO THE INTERNATIONAL ACCOUNTING SETTLEMENTS

OpenAIRE

Elena Hlaciuc; Camelia Mihalciuc; Anisoara Apetri

2008-01-01

The major financial statements are designed to provide a picture of theoverall financial position and performance of the business. In order to provide thisoverall picture, the accounting system will normally produce five major financialreports on a regular recurring basis. These financial statements, taken together,provide on overall picture of the financial health of the business. It says that who hasthe information has the power, and the way that it gets from the receiver iscommunication. F...

Integration of Financial Markets in Post Global Financial Crises and Implications for British Financial Sector: Analysis Based on A Panel VAR Model

OpenAIRE

Nasir, M; Du, M

2017-01-01

This study analyses the dynamics of integration among global financial markets in the context of Global Financial Crisis (2008) by employing a Panel Vector Autoregressive (VAR) model on the monthly data of nine countries and three markets from Jan 2003 to Oct 2015. It was found that there has been a shift in the association among the global financial markets since Global Financial Crisis (GFC).Moreover, the British financial sectors in Post-GFC world clearly showed a change in the association...

Coming of Age on a Shoestring Budget: Financial Capability and Financial Behaviors of Lower-Income Millennials.

Science.gov (United States)

West, Stacia; Friedline, Terri

2016-10-01

Lower-income millennials make important financial decisions that may affect their future financial well-being. With limited resources, this population is at risk for acquiring too much debt or being unprepared for a financial emergency that can send them further into poverty and constrain their ability to leverage resources for future economic mobility. A financial capability approach, an intervention that combines financial education with financial inclusion through the use of a savings account, may correlate with millennials’ healthy financial behaviors. This study used data from the 2012 National Financial Capability Study to examine the relationship between financial capability and the financial behaviors of lower-income millennials between the ages of 18 and 34 years (N = 2,578). Compared with those lower-income millennials who were financially excluded, those who were financially capable were also 171 percent more likely to afford an unexpected expense, 182 percent more likely to save for emergencies, and 34 percent less likely to carry too much debt, relating to their greater overall financial satisfaction. The findings of this study indicate that interventions that develop lower-income millennials’ financial capability may be effective for promoting healthy financial behaviors.

Childhood roots of financial literacy

OpenAIRE

Grohmann, Antonia; Kouwenberg, Roy; Menkhoff, Lukas

2015-01-01

Financial literacy predicts informed financial decisions, but what explains financial literacy? We use the concept of financial socialization and aim to represent three major agents of financial socialization: family, school and work. Thus we compile twelve relevant childhood characteristics in a new survey study and examine their relation to financial literacy, while controlling for established socio-demographic characteristics. We find in a mediation analysis that both family and school pos...

75 FR 22680 - Financial Management Service; Proposed Collection of Information: Annual Financial Statement of...

Science.gov (United States)

2010-04-29

... DEPARTMENT OF THE TREASURY Fiscal Service Financial Management Service; Proposed Collection of Information: Annual Financial Statement of Surety Companies--Schedule F AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management...

Effects of lens motion and uneven magnification on image spectra

Science.gov (United States)

Banik, Indranil; Zhao, Hongsheng

2015-07-01

Counter to intuition, the images of an extended galaxy lensed by a moving galaxy cluster should have slightly different spectra in any metric gravity theory. This is mainly for two reasons. One relies on the gravitational potential of a moving lens being time dependent (the moving cluster effect, MCE). The other is due to uneven magnification across the extended, rotating source (the differential magnification effect, DME). The time delay between the images can also cause their redshifts to differ because of cosmological expansion. This differential expansion effect is likely to be small. Using a simple model, we derive these effects from first principles. One application would be to the Bullet Cluster, whose large tangential velocity may be inconsistent with the Λ cold dark matter paradigm. This velocity can be estimated with complicated hydrodynamic models. Uncertainties with such models can be avoided using the MCE. We argue that the MCE should be observable with Atacama Large Millimetre Array. However, such measurements can be corrupted by the DME if typical spiral galaxies are used as sources. Fortunately, we find that if detailed spectral line profiles were available, then the DME and MCE could be distinguished. It might also be feasible to calculate how much the DME should affect the mean redshift of each image. Resolved observations of the source would be required to do this accurately. The DME is of order the source angular size divided by the Einstein radius times the redshift variation across the source. Thus, it mostly affects nearly edge-on spiral galaxies in certain orientations. This suggests that observers should reduce the DME by careful choice of target, a possibility we discuss in some detail.

Financial Audit – Undisputed Source on Precise Informing of Financial Statement’s Users

OpenAIRE

Constantin Afanase

2006-01-01

Financial audit implies a methodology of assessment to ensure an independent opinion so that to equally protect all the users of financial information: shareholders, state, employees, banks, stock exchange, debtors, suppliers, clients etc. Financial auditor answers to the third parties needs in relation with the confidence degree they can grant to the financial accounting documents of the company.

FINANCIAL AUDIT – UNDISPUTED SOURCE IN PRECISE INFORMING OF FINANCIAL STATEMENT’S USERS

Directory of Open Access Journals (Sweden)

Constantin AFANASE

2006-01-01

Full Text Available Financial audit implies a methodology of assessment to ensure an independentopinion so that to equally protect all the users of financial information:shareholders, state, employees, banks, stock exchange, debtors, suppliers, clientsetc. Financial auditor answers to the third parties needs in relation with theconfidence degree they can grant to the financial accounting documents of thecompany.

Financial Statements

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

users make on the basis of the financial information. .... IDRC's brand and reputation could impact partner- .... building and to provide internal services in support of the ...... maintains books of accounts, information systems, and financial and management controls that .... The significant accounting policies of the Centre are: a.

Policy redesign for solving the financial bottleneck in demand side management (DSM) in China

International Nuclear Information System (INIS)

Yu, Yongzhen

2010-01-01

DSM is one of the best and most practical policy tools for China to balance environmental protection and economic growth. However, the bottleneck lies in the lack of long-term, stable, sufficient and gradually increasing funds to flow into DSM projects. The author redesigns the practical 'system benefit charge (SBC)' policy, which will provide long-term and stable funding for DSM, the policy to facilitate the financial support from banking sector and capital market, and investigates the possibility of DSM funding from CDM projects. SBC is the best way to boost long-term stable and sufficient funding for DSM at present in China. The current low inflation rate and natural resource price are favored to expedite the implementation of SBC and DSM developments. With regard to the uneven development, China needs to design relative policies to offset the impact in different areas, such as tax reduction and fiscal subsides. It is time for China to develop a definite and clear target and timetable to implement DSM, which will give the public and enterprises a definite and clear expectation for the future. The government should publicize a clear and integrated DSM development plan and relative policy outline in the near, medium, and long term. (author)

State Prices and Implementation of the Recovery Theorem

Directory of Open Access Journals (Sweden)

Alex Backwell

2015-01-01

Full Text Available It is generally held that derivative prices do not contain useful predictive information, that is, information relating to the distribution of future financial variables under the real-world measure. This is because the market’s implicit forecast of the future becomes entangled with market risk preferences during derivative price formation. A result derived by Ross [1], however, recovers the real-world distribution of an equity index, requiring only current prices and mild restrictions on risk preferences. In addition to being of great interest to the theorist, the potential practical value of the result is considerable. This paper addresses implementation of the Ross Recovery Theorem. The theorem is formalised, extended, proved and discussed. Obstacles to application are identified and a workable implementation methodology is developed.

Possibility of heat recovery from gray water in residential building

Directory of Open Access Journals (Sweden)

Mazur Aleksandra

2017-12-01

Full Text Available Recovery of waste heat from gray water can be an interesting alternative to other energy saving systems in a building, including alternative energy sources. Mainly, due to a number of advantages including independence from weather conditions, small investment outlay, lack of user support, or a slight interference with the installation system. The purpose of this article is to present the financial effectiveness of installations which provide hot, usable water to a detached house, using a Drain Water Heat Recovery (DWHR system depending on the number of system users and the various combinations of bathing time in the shower, which has an influence on the daily warm water demand in each of the considered options. The economic analysis of the adopted installation variants is based on the Life Cycle Cost (LCC method, which is characterized by the fact that it also includes the operating costs in addition to the capital expenditure during the entire analysis period. For each case, the necessary devices were selected and the cost of their installation was estimated.

Possibility of heat recovery from gray water in residential building

Science.gov (United States)

Mazur, Aleksandra; Słyś, Daniel

2017-12-01

Recovery of waste heat from gray water can be an interesting alternative to other energy saving systems in a building, including alternative energy sources. Mainly, due to a number of advantages including independence from weather conditions, small investment outlay, lack of user support, or a slight interference with the installation system. The purpose of this article is to present the financial effectiveness of installations which provide hot, usable water to a detached house, using a Drain Water Heat Recovery (DWHR) system depending on the number of system users and the various combinations of bathing time in the shower, which has an influence on the daily warm water demand in each of the considered options. The economic analysis of the adopted installation variants is based on the Life Cycle Cost (LCC) method, which is characterized by the fact that it also includes the operating costs in addition to the capital expenditure during the entire analysis period. For each case, the necessary devices were selected and the cost of their installation was estimated.

The Ethics of the Financial Crisis and Financial Reform

NARCIS (Netherlands)

I.P. van Staveren (Irene)

2012-01-01

textabstractThe paper analyses the financial crisis and financial reform from two alternative ethical perspectives as compared to the mainstream one in economics, utilitarianism. It contrasts deontology with the ethics of care and argues that the rule-based deontological approach is not able to

Measuring the Impacts of Financial Literacy: Challenges for Community-Based Financial Education

Science.gov (United States)

Collins, J. Michael; Holden, Karen C.

2014-01-01

This chapter addresses financial education across the lifespan, which has the potential to enhance adult financial capability, yet methodological barriers and a lack of robust measures have hampered the ability to identify and measure the effects of educational programs on financial decisions and behavior.

Understanding Trust in Financial Services

DEFF Research Database (Denmark)

Hansen, Torben

2012-01-01

Although the financial crisis has elevated the interest for factors such as consumer financial healthiness, broad-scope trust, financial knowledge, and consumer relationship satisfaction, no existing model describes how these factors may influence consumer financial relationship trust...... healthiness, broad-scope trust, knowledge, and satisfaction positively affect narrow-scope trust in financial services. Furthermore, it is found that broad-scope trust negatively moderates the relationships between financial healthiness and narrow-scope trust and between satisfaction and narrow-scope trust....... This research extends prior research by developing a conceptual framework explaining how these constructs affect consumers' trust in their financial service provider. Based on two surveys comprising 764 pension consumers and 892 mortgage consumers, respectively, the results of this study indicate that financial...

The Geography of Financial Literacy

OpenAIRE

Christopher Bumcrot; Judy Lin; Annamaria Lusardi

2013-01-01

This paper explores how well equipped today’s households are to make complex financial decisions in the face of often high-cost and high-risk financial instruments. Specifically we focus on financial literacy. Most importantly, we describe the geography of financial literacy, i.e., how financial literacy is distributed across the fifty US states. We describe the correlation of financial literacy and some important aggregate variables, such as state-level poverty rates. Finally, we examine the...

Consolidated supervision of financial institutions and financial market in the Republic of Croatia

Directory of Open Access Journals (Sweden)

Bojana Olgić Draženović

2005-06-01

Full Text Available The question of regulation and supervision of all parts of financial system is of major importance for any country. In order to protect the interest of the society and to accelerate the economic development, it is necessary to provide adequate legal framework as well as independent supervision institutions. The regulations refer mostly to maintenance of financial stability and consumer protection. The article points out that the structure of the financial sector in the Republic of Croatia is underdeveloped and characterized by domination of the banking sector. Therefore, bank supervision is one of the main tasks of Croatian national bank and all other financial institutions (except banks are regulated by other regulatory institutions. The problems of authority overlapping and insufficient regulation are becoming more complex by the development of financial sector and especially by the deregulation of financial markets. Because of that, it is reasonable to investigate the existing regulatory framework of Croatian financial system concerning its structure and development.

Understanding Financial Innovation: An Introduction to Derivative Financial Products.

Science.gov (United States)

Robinson, J. N.

1992-01-01

Explains the use of forwards, futures, swaps, and options in international currency trading. Argues that pricing options are based on the same basic principles as pricing other financial instruments. Concludes that, although financial markets have developed several new products, hedging and speculation involve similar processes. (CFR)

FINANCIAL MANAGEMENT OF THE COMPANY THROUGH THE CAPITALIZATION OF FINANCIAL-ACCOUNTING INFORMATION

Directory of Open Access Journals (Sweden)

Boby COSTI

2014-06-01

Full Text Available This article aims to highlight the role of financial-accounting information for the use in the financial management of the company, starting from the most recent writings in the field. Although it is hard to imagine that the financial management uses individualized financial- accounting information, attributed solely to a particular activity within the enterprise, still we tried to address the information according to the main activities that produce and use information, respectively: of investment, of exploitation and of financing. A proper management, at the company’s level, contributes to better products at lower prices, a higher salary and at the same time, to achieve higher incomes for those who contributed with capital in that company. Therefore, the financial management is a subsystem of the overall management of the company, aimed at ensuring the necessary financial resources, their profitable allocation and use, increasing the company’s value and of the safety of patrimony.

Islamic Financial Literacy and Personal Financial Planning: A Socio-Demographic Study

Directory of Open Access Journals (Sweden)

Arum Setyowati

2018-02-01

Full Text Available This study aims to measure the level of Islamic Financial Literacy (IFL in Solo society and to test the effect of IFL on personal financial planning. The sociodemographic variables such as age, gender, marital status, education level, and income are being used as the control variable. 313 respondents are involved in this research directly through survey method and Ordinary Least Square (OLS is used to analyze the obtained research data. The study uses purposive sampling method and limiting the education level and income of research respondents. Study questionnaire consists of 20 multiple choice questions to measure respondent IFL and 13 questions to measure respondent personal financial planning. The results showed that: (1 the level of IFL in Solo reach 64.66 percent; (2 people with a good level of IFL tends to have better management in their personal finances, and (3 people with a good level of IFL tend to prefer investing in Islamic asset. Last, this paper will contribute to the scientific development of behavioral finance and financial inclusion which had been highly discussed in the financial literature. This study also became an early research in examining the influence of IFL on personal financial planning.

“Europa 2020”, nuovo governo economico e ri-regolamentazione finanziaria:incentivi o vincoli alla crescita?(“Europe 2010”, a new economic governance and financial re-regulation: incentives or constraints to growth?

Directory of Open Access Journals (Sweden)

Mario Sarcinelli

2010-12-01

Full Text Available Despite the launch of a new strategy for growth in Europe (the Europe 2020 strategy and the ongoing efforts to design a new international financial architecture, prospects for an economic recovery of Europe remain dim. Public deficits and debts will have to be reduced at a faster pace, with contractionary effects unless a strong recovery of private expenditure will materialize. Financial re-regulation is projected to further depress the economy by imposing higher capital ratios, lower leverage, a late (though welcome discipline of liquidity. The compound effect of the two policy trends pose a serious threat on the social sustainability of the European social market economy.   JEL: H6, F3, O52

Gamblers Anonymous as a Recovery Pathway: A Scoping Review.

Science.gov (United States)

Schuler, Andrée; Ferentzy, Peter; Turner, Nigel E; Skinner, Wayne; McIsaac, Kathryn E; Ziegler, Carolyn P; Matheson, Flora I

2016-12-01

Given the preponderance of Gamblers Anonymous (GA), there has been relatively little effort to explore the existing evidence base on its effectiveness as a recovery approach for problem gambling. To remedy this gap in the literature we conducted a scoping review of the literature on mutual aid for individuals experiencing problem gambling published between 2002 and 2015. We searched 13 databases and reviewed reference lists and websites of relevant organizations. We reviewed records for eligibility and extracted relevant data from eligible articles. Three reviewers independently assessed the methodological quality of the included studies using the Mixed Methods Appraisal Tool. We identified 17 studies in 25 publications that were eligible for inclusion. Most studies were conducted in the United States, were cross-sectional in design, and involved both male and female adult participants. Results indicate that the evidence for the effectiveness of GA either as a control condition or in conjunction with formal treatment or medication is inconsistent. An emphasis on patience, using the Serenity Prayer as a way to gain acceptance of financial matters and reality, and absolute assertion of identity as a "compulsive gambler" were identified as important aspects of GA's recovery culture. There is a need for large-scale randomized controlled trials to determine GA's effectiveness, as well as research exploring the mechanisms through which GA works, barriers to GA as a recovery approach, and the status of women in the fellowship.

Nonlinear Effect of Financial Efficiency and Financial Competition on Heterogeneous Firm R&D: A Study on the Combined Perspective of Financial Quantity Expansion and Quality Development

Directory of Open Access Journals (Sweden)

Yang Gao

2018-05-01

Full Text Available Manufacturing firm data and district financial quantity and quality indicators for 2005–2007 combined with heterogeneous firm characteristics were used with a threshold panel to study the effect of financial inefficiency on firm R&D and the financial boundaries of efficiency improvement. The results show that: (1 extensive financial quantity expansion cannot support high innovation efficiency R&D (Research and Development activities in private enterprises, low- and medium-technology enterprises, and underdeveloped area enterprises, as it causes financial inefficiency problems and a shortage of R&D inputs; and (2 financial efficiency and financial competition have nonlinear effects on firm R&D. Financial inefficiency and either low or excessive financial competition result in a lack of highly efficient firm R&D. Only improvements in financial efficiency and moderate competition can significantly promote firm R&D. The results of this study reveal an important way to improve the influence of financial inefficiency on firm R&D by moving away from simply expanding financial quantity to promoting quality instead.

Comprehensive assessment of firm financial performance using financial ratios and linguistic analysis of annual reports

OpenAIRE

Renáta Myšková; Petr Hájek

2017-01-01

Indicators of financial performance, especially financial ratio analysis, have become important financial decision-support information used by firm management and other stakeholders to assess financial stability and growth potential. However, additional information may be hidden in management communication. The article deals with the analysis of the annual reports of U.S. firms from both points of view, a financial one based on a set of financial ratios, and a linguistic one based on the anal...

Taxing Financial Activity

OpenAIRE

Jack M. Mintz

2003-01-01

In most countries, substantial business activity is related to financial intermediation: banking, trusts, investment companies and insurance. Financial businesses play a crucial role in the economy by matching lenders with borrowers as well as facilitating governance of businesses through close monitoring of funds lent to businesses. Financial institutions also reduce risk faced by investors by pooling investments over many different types of business activities and insuring against property,...

Corporate Social Responsibility in the Financial Sector: Are Financial Cooperatives Ready to the Challenge?

OpenAIRE

Élias Rizkallah; Inmaculada Buendía Martínez

2011-01-01

After the crash of financial institutions and the negative effects of the financial crisis, financial service cooperatives (FSCs) emerged as good performer compared to commercial banks. But this condition will not be enough to face the challenges that the new financial panorama will bring on the banking arena. Among them, challenges related to the corporate social responsibility (CSR) sphere will play a special role. In Canada, the financial regulatory framework forces some federal institutio...

The Study on Financial Supervision for Chinese Financial Industry under Mixed Operation

Science.gov (United States)

Wei, Song

Financial mixed operation refers to that financial institution can offer all financial services (banking, securities, insurance, and trust) and engage in industrial businesses by holding the share ownership. Because of self interests, risk diversification, the change of competition condition, and clients' needs of the diversity of financial products and services, commercial banks make it possible for the mixed operation to be the optimal choice of the banking businesses under dynamic conditions in globalized competition, which results in the diversity and integration of banking businesses.

Reaching Sustainable Financial Health: Gender Differences in Risk-Taking Patterns of Financially Excluded People

Directory of Open Access Journals (Sweden)

Eunmi Kim

2018-04-01

Full Text Available Providing sufficient financial accessibility to low-income individuals is considered a way to decrease income inequality and could be a key factor in sustainable economic growth. To make the financial accessibility policy more effective, analyses of individuals’ understanding of financial risk within low-income groups need to be conducted. The current authors investigated individuals’ attitudes towards loan financial risk in terms of gender difference. Using South Korean survey data, we examined the relationship between gender and attitude towards loan financial risk with a regression analysis. We found that within a low-income group, males were more willing to pay higher interest rates than females. In addition, males’ willingness to pay high interest rates became stronger when their current financial costs were high. The results indicate that males are less careful with the risks that high interest rates can bring. Thus, the results imply that interventions, such as more substantial financial education, are required for males to make financial accessibility polices more effective.

Causes and consequences of the Spanish economic crisis: Why the recovery is taken so long?

Directory of Open Access Journals (Sweden)

Carballo-Cruz Francisco

2011-01-01

Full Text Available Spain is currently facing its worst crisis in the last fifty years. The crisis began as an extension of the international financial crisis, but the internal imbalances accumulated in the pre-crisis period aggravated the situation. At present their incomplete adjustment is making difficult the economic recovery. This paper describes the evolution of the economic crisis in Spain. The real estate sector and the banking sector are analyzed in detail, as they played a key role in the detonation and the deepening of the crisis. The results of the main reforms carried out so far are also carefully examined. It also discusses the main factors that have delayed the economic recovery up to now (unemployment and indebtedness, and present some alternatives to define an exit strategy.

Financial regulation and financial system architecture in Central Europe

NARCIS (Netherlands)

Scholtens, B

At the beginning of the transition, advice to Central European countries with respect to how to set up their financial systems was based on models used in western economies. This paper analyzes the experiences to set up a financial system in Central Europe. The experience in the first transition

Recovery in SoccerPart II—Recovery Strategies

OpenAIRE

Nedelec, Mathieu; McCall, Alan; Carling, Chris; Legall, Franck; Berthoin, Serge; Dupont, Grégory

2013-01-01

International audience; In the formerly published part I of this two-part review, we examined fatigue after soccer matchplay and recovery kinetics of physical performance, and cognitive, subjective and biological markers. To reduce the magnitude of fatigue and to accelerate the time to fully recover after completion, several recovery strategies are now used in professional soccer teams. During congested fixture schedules, recovery strategies are highly required to alleviate post-match fatigue...

Genesis nature of financial strategy

Directory of Open Access Journals (Sweden)

O.V. Pashchenko

2015-03-01

Full Text Available The article is devoted to the study of the origin and history of the interpretation of the genesis of «strategy», «financial strategy», its elements and composite types. Scientists studied different views on the concept of strategy. Several specific positions founders of different approaches to define the strategy of schools operating strategies involved in the formulation and implementation of the concept of «strategy». Evaluation of different schools of strategies that deepened understanding of the industry and its strategy in the early stages of formation. Based on the works of various scholars studied by the author actually proposed interpretation of the concept strategy. The general industry and functional strategies which include the following strategies: innovation, resource, financial, production, marketing and human resources. Allocated financial strategy and its significant impact on other strategies. Author developed financial sector strategy and financial strategy of competitive enterprise. The importance of financial strategies under conditions of companies and the industry as a whole, as well as components of development of financial strategy. Deals with the factors that must be considered in the development and implementation of financial strategies. The systems analysis strategies and the impact on financial results, the estimation of their attractiveness and risk. Considered classification on the basis of financial strategies and sectoral orientation of the financial sector strategy based on company size, its form and noted the importance of this trait in systematizing strategies. The expediency of the financial strategy. Defined competitive advantage and efficiency of business and industry through the implementation of various financial strategies.

COMPANY ACTIVITY FINANCIAL RISK

Directory of Open Access Journals (Sweden)

Caruntu Genu Alexandru

2012-12-01

Full Text Available In economic and financial activity, risk is an inherent financial decisions, encountered in daily agenda of managers of companies. Unexpected changes in the price of a product development not only affect the financial results of a company, but can cause even bankruptcy. In fact, the nature of financial decisions involve uncertainty. Financial decisions are made based on cash flows under future contracts, which are par excellence incerte.Activitatea an enterprise that holds any weight in the industry is subject to risks, since it can not predict with certainty different components of its outcome (cost, quantity, price and operating cycle (purchase, processing, sales.

FINANCIAL INSTABILITY IN ROMANIA

Directory of Open Access Journals (Sweden)

Cristian, IONESCU

2014-11-01

Full Text Available The aim of this paper is to empirically study the concept of financial stability in Romania, from both a monetary policy perspective and a financial perspective. In this paper, I also compute an aggregate index of financial stability, for the period 2008-2013, explaining the correlations between several extremely important macroeconomic and sectorial variables and financial stability. The article also debates the aspect of policy instruments that aim to promote, highlighting the undertaken measures and also giving some measures recommendations, pointing out the main pillars: crises management; cross-sectoral challenges; banking sector; securities markets and capital markets; insurance sector; pensions sector; access to financial services.

Fundamentals of Financial Statements Audit

OpenAIRE

World Bank

2011-01-01

The purpose of an audit is to enhance the degree of confidence of intended users in the financial statements. The objective of an audit of financial statements is to enable an auditor to express an opinion as to whether the financial statements are prepared, in all material respects, in accordance with International Financial Reporting Standards or another identified financial reporting fr...

The Financial Safety Net – a Necessity in a Turbulent Financial World

Directory of Open Access Journals (Sweden)

Peter BALOGH

2011-11-01

Full Text Available Over the last years we observed that whenever crisis hits, interest in guarantee arrangements rises. The current financial crisis is no exception in this respect. It turns the spotlight on the operation of the financial safety net and provides policy makers with a unique opportunity to monitor its performance and, more specifically, to identify its strengths and weaknesses. This paper focuses on the way parts of the financial safety net work and places a special emphasis on the growing role of these safety nets in our turbulent financial world.

The notion and content of financial system in the context of financial law of Ukraine

OpenAIRE

Viktor Chernadchuk; Viktor Sukhonos; Inna Shkolnyk

2017-01-01

The financial system of the advanced countries develops according to two basic models – a bank-based system and a market-based system, depending on the level of protection of the rights of owners, investors and lenders. A paradigm shift in functioning of global financial system and financial systems of all countries is based on financial law, which formalizes all financial relations. Reviewing the financial system of Ukraine, the researchers pay a special attention to public finance due to it...

THE ASSESSMENT OF FINANCIAL AND NON-FINANCIAL INDICATORS IN EVALUATING THE PERFORMANCE OF A COMPANY

OpenAIRE

Kotāne, Inta

2013-01-01

In this article the findings of a survey of entrepreneurs’ viewpoint are collected. It is carried out with an aim of clarifying the importance of financial and non-financial indicators in evaluating the performance of a company as well as the factors that influence the impartiality of financial and non-financial indicators and the factors that interfere with financial and non-financial analysis of a company. The topicality of this research is based on the reason that many authors have carried...

A Financial Issue, a Relationship Issue, or Both? Examining the Predictors of Marital Financial Conflict

Directory of Open Access Journals (Sweden)

Jeffrey P. Dew

2012-06-01

Full Text Available This study examines whether financial conflict arises because of financial difficulties, marital problems, or both.  Using a recent nationally representative sample of over 1500 married couples, this study finds that economic pressure, communication issues, and deeper “hidden” issues within marriage are all associated with financial conflict.  Specifically, economic pressure is positively associated with financial conflict.  When spouses report satisfying communication, respect, commitment, and fairness and have equal levels of economic power, they report lower levels of financial conflict.  These results suggest that financial conflict is a complex marital phenomenon that both marital therapists and financial counselors may help reduce.

Recovery from cannabis use disorders: Abstinence versus moderation and treatment-assisted recovery versus natural recovery.

Science.gov (United States)

Stea, Jonathan N; Yakovenko, Igor; Hodgins, David C

2015-09-01

The present study of recovery from cannabis use disorders was undertaken with 2 primary objectives that address gaps in the literature. The first objective was to provide an exploratory portrait of the recovery process from cannabis use disorders, comparing individuals who recovered naturally with those who were involved in treatment. The second objective was to explore systematically the similarities and differences between abstinence and moderation recoveries. Adults who have recovered from a cannabis use disorder were recruited in the community (N = 119). The abstinence and treatment-assisted participants exhibited higher levels of lifetime cannabis problem severity than the moderation and natural recovery participants, respectively. As well, cognitive factors were identified as the most useful strategies for recovery (e.g., thinking about benefits and negative consequences of cannabis), followed by behavioral factors (e.g., avoidance of triggers for use and high-risk situations). Findings lend further support to the effectiveness of cognitive, motivational, and behavioral strategies as helpful actions and maintenance factors involved in the recovery process. The findings also generally support the idea that cannabis use disorders lie on a continuum of problem severity, with moderation and natural recoveries more likely to occur at the lower end of the continuum and abstinence and treatment-assisted recoveries more likely to occur at the upper end. (c) 2015 APA, all rights reserved).

Exploring Student Service Members/Veterans Social Support and Campus Climate in the Context of Recovery

Directory of Open Access Journals (Sweden)

Susan M. Love

2015-09-01

Full Text Available Now that the financial needs of post 9/11 student service members/veterans have begun to be addressed, the attention has shifted to disabilities and recovery strategies of student service members/veterans. Therefore, in a cross sectional design, this study electronically surveyed 189 enrolled student service members/veterans attending a large urban state university about their experiences of returning to school. Specifically, this study described the students’ rates of Post-Traumatic Stress Disorder (PTSD and alcohol abuse, perceived stress, adaptive and non-adaptive coping strategies, social support, participation in campus activities, and perceived campus climate. Moreover, correlates of recovery were examined. Although the majority of the returning students were doing well, 36.1% reported a high level of stress, 15.1% reported a high level of anger, 17.3% reported active symptoms of PTSD, and 27.1% screened positive for alcohol problems. Social networks were found to be the most salient factor in recovery. The study’s limitations are discussed and specific support strategies are presented that can be employed by disability services, counseling services and college administrators.

Financial Integrity Benchmarks

Data.gov (United States)

City of Jackson, Mississippi — This data compiles standard financial integrity benchmarks that allow the City to measure its financial standing. It measure the City's debt ratio and bond ratings....

Islamic Financial Literacy and Personal Financial Planning: A Socio-Demographic Study

Directory of Open Access Journals (Sweden)

Arum Setyowati

2018-02-01

Full Text Available This study aims to measure the level of Islamic Financial Literacy (IFL in Solo society and to test the effect of IFL on personal financial planning. The socio-demographic variables such as age, gender, marital status, education level, and income are being used as the control variable. 313 respondents are involved in this research directly through survey method and Ordinary Least Square (OLS is used to analyze the obtained research data. The study uses purposive sampling method and limiting the education level and income of research respondents. Study questionnaire consists of 20 multiple choice questions to measure respondent IFL and 13 questions to measure respondent personal financial planning. The results showed that: (1 the level of IFL in Solo reach 64.66 percent; (2 people with a good level of IFL tends to have better management in their personal finances; and (3 people with a good level of IFL tends to prefer investing on Islamic asset. Last, this paper will contribute to the scientific development of behavioral finance and financial inclusion which had been highly discussed in the financial literature. This study also became an early research in examining the influence of IFL on personal financial planning.

Determinants of financial performance of financial sectors (An assessment through economic value added)

OpenAIRE

Khan, Muhammad Kamran; Nouman, Mohammad; TENG, JIAN-ZHOU; Khan, Muhammad Imran; Jadoon, Arshad Ullah

2017-01-01

This study investigated determinants of financial performance of listed financial sectors in Karachi Stock Exchange from 2008 to 2012. The objective of this study was to investigate the factors of financial performance of financial sectors in Pakistan. Descriptive statistics, Correlation matrix, Chow test, Hausman Test for Fixed Effect Model and Random Effect Model and Breusch-Pagan Lagrange multiplier for Random Effect were used in this study. Estimated results revealed that determinants of ...

Determinants of financial performance of financial sectors (An assessment through economic value added)

OpenAIRE

Khan, Muhammad Kamran; Nouman, Mohammad; Imran, Muhammad

2015-01-01

This study investigated determinants of financial performance of listed financial sectors in Karachi Stock Exchange for the period 2008 to 2012. The objective of this study was to investigate the factors which affect financial performance of financial sectors of Pakistan. Descriptive statistics, Correlation matrix, Chow test, Hausman Test for Fixed Effect Model and Random Effect Model and Breusch-Pagan Lagrange multiplier for Random Effect were used in this study. Estimated results revealed t...

CHALLENGES OF FINANCIAL AUDIT - THE IMPACT OF INTRODUCING UNIQUE REGULATION OF FINANCIAL MARKETS IN ROMANIA

Directory of Open Access Journals (Sweden)

Mitica Pepi

2013-07-01

Full Text Available The theme of our research is related to the new type of relationship between financial audits (statutory and unique regulation of financial markets in Romania.The Romanian authorities have decided as from 2013 regulation of financial markets, capital market, insurance market and private pensions market to achieve by a single entity, this situation will also lead to a number of challenges in the relationship between the auditor and the new regulatory regime. The main elements of our study are: the relationship between the audit committee and regulatory authority; quality of financial reporting for financial market entities. The auditor plays an important role in financial markets because it certifies the financial statements in accordance with European Union practice . It is also interesting to note potential interference that can occur in single regulation between compliance audit and financial stability and return on investment between performance audit and financial markets.In this case, financial regulation can coexist with compliance audit. EU legislation recommends that the auditor discuss with the audit committee the quality and acceptability of the financial reporting process.This recommendation is what should constitute a possible consensus to be highly unlikely between audit committees would align auditors in financial reporting disputes with management financial entities. In this regard, auditors should identify the factors we consider important in determining the quality of financial reporting. .We conducted this research in an effort to identify the possible divergence between the type of regulations that can emit single regulatory authority and the audit process. New regulator will operate on two levels, issue general regulations apply to all three categories of financial markets, capital market, insurance market and private pensions market, but in the same time and in greater extent will issue specific regulations of each market in

Essays on financial liberalization

NARCIS (Netherlands)

Bumann, Silke

2015-01-01

This thesis investigates the effect of financial liberalization on economic growth, income inequality and financial instability. Chapter 1 describes aim and scope of the thesis. Chapter 2 provides a meta-analysis of the literature on financial liberalization and economic growth. It is found that

Financial Markets and Compliance

NARCIS (Netherlands)

van de Laar, T.A.H.M.; Bleker, Sylvie; Houben, Raf

2017-01-01

This chapter will focus on the goals of financial market regulation through the rules of economics, the strategies financial regulation employs to achieve these goals and the insights this provides for the compliance profession. For an overview of the goals and strategies of financial regulation

Quarterly Financial Report

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

acray

2011-06-30

Jun 30, 2011 ... 2 IDRC QUARTERLY FINANCIAL REPORT JUNE 2011. Consolidated .... spending on capacity-building projects as well as to management's decision to restrict capacity- building ...... The investments in financial institutions.

Radiology applications of financial accounting.

Science.gov (United States)

Leibenhaut, Mark H

2005-03-01

A basic knowledge of financial accounting can help radiologists analyze business opportunities and examine the potential impacts of new technology or predict the adverse consequences of new competitors entering their service area. The income statement, balance sheet, and cash flow statement are the three basic financial statements that document the current financial position of the radiology practice and allow managers to monitor the ongoing financial operations of the enterprise. Pro forma, or hypothetical, financial statements can be generated to predict the financial impact of specific business decisions or investments on the profitability of the practice. Sensitivity analysis, or what-if scenarios, can be performed to determine the potential impact of changing key revenue, investment, operating cost or financial assumptions. By viewing radiology as both a profession and a business, radiologists can optimize their use of scarce economic resources and maximize the return on their financial investments.

Financial Literacy and Self-Employment

OpenAIRE

Cumurovic, Aida; Hyll, Walter

2016-01-01

In this paper, we study the relationship between financial literacy and self-employment. We use established financial knowledge-based questions to measure financial literacy levels. The analysis shows a highly significant correlation between self-employment and financial literacy scores. To investigate the impact of financial literacy on being self-employed, we apply instrumental variable techniques based on information on economic education before entering the labour market and education of ...

From recovery values to recovery-oriented practice?

DEFF Research Database (Denmark)

Dalum, Helle; Pedersen, Inge Kryger; Cunningham, Harry

2015-01-01

Introduction: The recovery model has influenced mental health services and fostered new standards for best practice. However, knowledge about how mental health care professionals (HCPs) experience recoveryoriented programs is sparse. Aim/Question: This paper explores HCPs' experiences when...... facilitating a recovery-oriented rehabilitation program. The research question is howdo HCPs experience a change in their attitude and practicewhen applying recovery-oriented programs? Methods: This paper draws on semi-structured in-depth qualitative interviews conducted with 16 HCPs experienced...... in facilitating a recovery-oriented rehabilitation program in either the USA or Denmark. Results: Three themes emerged from the HCPs' reflections on changes in attitudes and practices: “Hopeful Attitude” captures a change in the HCPs' attitude toward a more positive view on the future for clients' living...

76 FR 23859 - Financial Management Service Proposed Collection of Information; Financial Institution Agreement...

Science.gov (United States)

2011-04-28

... DEPARTMENT OF THE TREASURY Fiscal Service Financial Management Service Proposed Collection of... Management Service, Fiscal Service, Treasury. ACTION: Notice and request for comments. SUMMARY: The Financial... collection. By this notice, the Financial Management Service solicits comments concerning the FMS 458 and FMS...

Financial And Non-financial Factors Motivating Individual Donors To Support Public Benefit Organizations

OpenAIRE

WANIAK-MICHALAK HALINA; ZARZYCKA EWELINA

2015-01-01

This study is aimed at determining how the financial data of public benefit organizations (PBOs) affects donations received by them and if the donors use financial and non-financial information in order to donate. In order to achieve our aim we used different methods of research: quantitative research (econometric model and survey) and qualitative research (laboratory test). The research allowed us to draw the conclusion that Polish donors make very limited use of PBOs’ financial statements i...

The model of fraud detection in financial statements by means of financial ratios

OpenAIRE

Kanapickienė, Rasa; Grundienė, Živilė

2015-01-01

Analysis of financial ratios is one of those simple methods to identify frauds. Theoretical survey revealed that, in scientific literature, financial ratios are analysed in order to designate which ratios of the financial statements are the most sensitive in relation with the motifs of executive managers and employees of companies to commit frauds. Empirical study included the analysis of the following: 1) 40 sets of fraudulent financial statements and 2) 125 sets of non-fraudulent financ...

Financial Flexibility as a Phenomenon of Manifestation of Flexibility of the Financial System at the Micro-level

Directory of Open Access Journals (Sweden)

Laktionova Oleksandra A.

2014-03-01

Full Text Available The article considers financial flexibility of economic subjects in the context of specific features of manifestation of this property at the micro-level of the financial system. It generalises various theoretical approaches to understanding the essence of the financial flexibility in the context of motives of its formation, sources and instruments of realisation. It specifies criteria of financial flexibility: manoeuvrability, efficiency and economy. It studies interrelation between the financial flexibility and financial restrictions at the micro-level and, consequently, factors that determine them: capital market imperfection, development level and structure of the financial system, cyclicity of economy, and company characteristics (including financial architecture. The article describes their distinguishing features. It states that apart from maintaining the financial flexibility during formation of money reserves and debt load resource the companies can be guided by other motives. It offers classification of types of financial flexibility based on the sources and goals of formation, influence upon the financial potential, stages of reproduction of financial resources, the instruments used, engaged elements of the financial mechanism, stages of the business cycle and types of the used financial resources.

INSTABILITY MODELING OF FINANCIAL PYRAMIDS

OpenAIRE

Girdzijauskas, Stasys; Moskaliova, Vera

2005-01-01

The financial structures that make use of money flow for “easy money” or cheating purpose are called financial pyramids. Recently financial pyramids intensively penetrates IT area. It is rather suitable way of the fraud. Money flow modeling and activity analysis of such financial systems allows identifying financial pyramids and taking necessary means of precautions. In the other hand even investing companies that function normally when market conditions changes (e.g. interest rates) eventual...

Morocco; Financial System Stability Assessment

OpenAIRE

International Monetary Fund

2003-01-01

The Financial System Stability Assessment of Morocco reviews the reform program that is aimed at establishing a modern, market-oriented financial system that optimizes the mobilization of savings and the allocation of financial resources. It reviews the modernization of the banking sector and the development of competition within the sector, development of financial markets, and removal of constraints on financial system activity. It also provides reports on the Observance of Standards and Co...

A marketing perspective on the impact of financial and non-financial measures on shareholder value

OpenAIRE

Terblanche, Nic S; Gerber, Charlene; Erasmus, Pierre; Schmidt, Delia

2013-01-01

The pressure for financial accountability contributed to widespread concern about the function of marketing within the company. Consequently, marketers have become preoccupied with measuring the performance of marketing activity. Diverse financial and non-financial methods have been developed to provide evidence of how marketing activity impacts on the bottom line. This article proposes an approach whereby financial and non-financial performance measures are combined to measure the contributi...

Perspectives of the Evolution of Romanian Financial Market in the Context of Global Financial Market

OpenAIRE

Dalia SIMION; Daniel TOBA

2008-01-01

Economical financial reality proves that, in time, globalisation has an impact not only on commodities economy but also on all financial domains, leading to remodelling of financial arrangement, increase of business opportunities but as well competition between financial institutions. Due to the expansion of financial markets, the consequences of globalisation processes converge to an efficiency of economic systems, through an increase of financing capacity and quick transformation of investm...

Financial Liberalisation and the South Korean Financial Crisis: Some Qualitative Evidence

OpenAIRE

Kevin Amess; Panicos Demetriades

2001-01-01

This paper provides a novel analysis of the South Korean financial crisis drawing on the findings of a unique survey of IMF/World Bank officials and South Korean economists. The survey reveals that over-optimism and inadequate recognition of financial risks inadvertently led to excessive risk taking by Korean financial intermediaries. It also indicates that the sources of over-optimistic assessments of East Asian economies, including Korea, were mainly to be found outside East Asia, including...

THE IMPACT OF THE FINANCIAL CRISIS ON THE THEORY AND PRACTICE OF FINANCIAL SYSTEM SUPERVISION

Directory of Open Access Journals (Sweden)

Roxana Heteș

2013-04-01

Full Text Available The recent global financial crisis has reopened the debate about macroeconomic policies’ objectives, but also the need and extent of state involvement in the functioning of the economy, either directly or indirectly. This has exposed some weaknesses in the system of regulation and supervision of the financial system and the its architecture, especially in the treatment of systemic risks and vulnerabilities, but also the financial implications of the globalization process. The global nature of financial crisis highlighted the fact that, although integrated financial markets offer a number of significant benefits, risks involved are not negligible. Therefore, to ensure the financial stability of an increasingly integrated landscape there was felt the need for reform of the financial system architecture, both nationally and internationally.

Mobile financial services and financial inclusion: Is it a boon for savings mobilization?

Directory of Open Access Journals (Sweden)

Shem Alfred Ouma

2017-06-01

Full Text Available The adoption of mobile telephony to provide financial services in Africa has become instrumental in integrating the hitherto unbanked segments of the population to the mainstream financial systems. This study sought to establish this linkage by examining whether the pervasive use of mobile telephony to provide financial services is a boon for savings mobilization in selected countries in sub Saharan Africa. The findings show that availability and usage of mobile phones to provide financial services promotes the likelihood of saving at the household level. Not only does access to mobile financial services boost the likelihood to save, but also has a significant impact on the amounts saved, perhaps due to the frequency and convenience with which such transactions can be undertaken using a mobile phone. Both forms of savings, that is, basic mobile phone savings stored in the phone and bank integrated mobile savings are likely to be promoted by use of mobile phones. Thus, growing and deepening the scope for mobile phone financial services is an avenue for promoting savings mobilization, especially among the poor and low income groups with constrained access to formal financial services.

Review of Family Financial Decision Making: Suggestions for Future Research and Implications for Financial Education

Science.gov (United States)

Kim, Jinhee; Gutter, Michael S.; Spangler, Taylor

2017-01-01

This article reviews the theories and literature in intrahousehold financial decisions, spousal partners and financial decision making, family system and financial decision process, children, and financial decisions. The article draws conclusions from the literature review and discusses directions for future research and educational programs. Most…

Financial Wealth Distribution in Revised Financial Accounts

Directory of Open Access Journals (Sweden)

Václav Rybáček

2012-09-01

Full Text Available Financial statistics undergo dynamic evolution as apparent consequence of their rising importance. Structureof assets, source of fi nancing, price changes or net fi nancial position, all these indicators can detect oncomingfi nancial instability. Financial statistics as a logical extension of the national accounts provide such information.Th e aim of the following text is to present fi nancial statistics, relation between particular accounts, the impact of extraordinary revision carried out in 2011, and also to analyse current wealth distribution as described by fi nancial statistics.

Balancing Responsibilities – Financial Literacy

OpenAIRE

Gail Pearson; Philip N Stoop; Michelle Kelly-Louw

2017-01-01

In Australia there is an obligation to promote the informed participation of financial consumers while in South Africa there is an obligation to educate consumers. The Australian obligation is concerned with the financial system as a whole while the South African obligation has generally been focused on general financial education as a tool to promote financial inclusion. There is no obligation for consumers to attain a minimum standard of literacy in credit or finance generally. Financial li...

Curbing the Financial Exploitation of the Poor: Financial Literacy and Social Work Education

Science.gov (United States)

Karger, Howard

2015-01-01

The article investigates the importance of financial literacy content for social work students who at some point in their career will encounter financially-excluded clients. Financial literacy content can include understanding how fringe economy businesses operate, including their business model, knowledge of local and national nonpredatory…

Financial Advice: Who Pays

Science.gov (United States)

Finke, Michael S.; Huston, Sandra J.; Winchester, Danielle D.

2011-01-01

Using a cost-benefit framework for financial planning services and proprietary data collected in the summer of 2008, the client characteristics that are associated with the likelihood of paying for professional financial advice, as well as the type of financial services purchased, are identified. Results indicate that respondents who pay for…

On the nexus of monetary policy and financial stability: Is the financial system more resilient?

OpenAIRE

Mora, Patricia Palhau; Januska, Michael

2016-01-01

Monetary policy and financial stability are closely intertwined, and the resilience of the financial system carries weight in this relationship. This paper explores whether the financial system is more resilient as a result of the G20's post-crisis agenda for financial regulatory reform. It summarizes the agenda's key measures and implementation schedules, both internationally and in Canada, reviews the effectiveness of the reform measures in preventing and addressing financial imbalances, an...

Using a Financial Health Model to Provide Context for Financial Literacy Education Research: A Commentary

Science.gov (United States)

Huston, Sandra J.

2015-01-01

In the article, "Enhancing links between research and practice to improve consumer financial education and well-being" Billy J. Hensley, Director of Education at National Endowment for Financial Education® (NEFE®), outlines his perspective on the current relation between financial education and financial outcome (downstream financial…

RTE - 2012 financial results

International Nuclear Information System (INIS)

Ricour, Olivia; Marguier, Marina; Lartigau, Thierry

2013-01-01

The mission of RTE, the French electricity Transportation grid, a public service assignment, is to balance the electricity supply and demand in real time. This report presents RTE's financial results for 2012: increase of investments for services to clients, performance results, financial balance, stability of the economical model. RTE's regulated economical model, main financial indicators, 2007-2012 investments, 2012 investments by category, 2012 turnover, 2012 costs structure, taxes, financial balance sheet at the end of 2012, and the share of electricity transport in the electricity price are presented in appendixes

Financial Management: U.S. Army Corps of Engineers Financial Information Imported Into the Defense Departmental Reporting System - Audited Financial Statements

National Research Council Canada - National Science Library

Granetto, Paul J; Peek, Marvin L; Armstrong, Jack L; Wenzel, Paul C; Furey, Kathleen A; Zimmerman, Craig W

2004-01-01

... are: the Corps of Engineers Financial Management System, the Corps of Engineers Enterprise Management Information System, and the Defense Departmental Reporting System - Audited Financial Statements...

STRUCTURAL RELATIONS OF FINANCIAL STATEMENTS AND THE INSTRUMENTS OF FINANCIAL MANAGEMENT

OpenAIRE

CLAUDIA ISAC; ALIN ISAC

2012-01-01

The present paper aims to highlight the dynamic nature of the balance sheet as a component of annual financial statements and the informational support offered by the indicators calculated for financial analysis. In the first part of the paper there are presented some theoretical issues about the current context of the use of financial statements as a useful tool in the process of decision making and the forms and the parts of such situations. The balance sheet represents a model of the firm'...

Promoting Financial Success in the United States: National Strategy for Financial Literacy, 2011

Science.gov (United States)

US Financial Literacy and Education Commission, 2011

2011-01-01

This paper describes a framework developed by the Financial Literacy and Education Commission (FLEC) to provide the foundation for an overarching financial literacy strategy. This framework establishes concrete goals that the non-profit, government, and private sectors can and should work together to increase financial literacy and improve…

INFORMATION SYSTEM OF THE FINANCIAL ANALYSIS

Directory of Open Access Journals (Sweden)

MIRELA MONEA

2013-12-01

Full Text Available Financial analysis provides the information necessary for decision making, and also helps both the external and internal users of these. The results of the financial analysis work are dependent on the quality, accuracy, relevance and effectiveness of the information collected, and processed. Essential sources of information for financial analysis are financial statements, which are considered the raw material of financial analysis. One of the financial statements -the balance sheet - provides information about assets, liabilities, equity, liquidity, solvency, risk, financial flexibility. The profit and loss account is a synthesis accounting document, part of the financial statement reporting enterprise financial performances during of a specified accounting period and summarizes all revenues earned and expenses of an accounting period and reports the results.

Uses and abuses of recovery: implementing recovery-oriented practices in mental health systems

Science.gov (United States)

Slade, Mike; Amering, Michaela; Farkas, Marianne; Hamilton, Bridget; O'Hagan, Mary; Panther, Graham; Perkins, Rachel; Shepherd, Geoff; Tse, Samson; Whitley, Rob

2014-01-01

An understanding of recovery as a personal and subjective experience has emerged within mental health systems. This meaning of recovery now underpins mental health policy in many countries. Developing a focus on this type of recovery will involve transformation within mental health systems. Human systems do not easily transform. In this paper, we identify seven mis-uses (“abuses”) of the concept of recovery: recovery is the latest model; recovery does not apply to “my” patients; services can make people recover through effective treatment; compulsory detention and treatment aid recovery; a recovery orientation means closing services; recovery is about making people independent and normal; and contributing to society happens only after the person is recovered. We then identify ten empirically-validated interventions which support recovery, by targeting key recovery processes of connectedness, hope, identity, meaning and empowerment (the CHIME framework). The ten interventions are peer support workers, advance directives, wellness recovery action planning, illness management and recovery, REFOCUS, strengths model, recovery colleges or recovery education programs, individual placement and support, supported housing, and mental health trialogues. Finally, three scientific challenges are identified: broadening cultural understandings of recovery, implementing organizational transformation, and promoting citizenship. PMID:24497237

CMS Financial Reports

Data.gov (United States)

U.S. Department of Health & Human Services — This section contains the annual CMS financial statements as required under the Chief Financial Officers (CFO) Act of 1990 (P.L. 101-576). The CFO Act marked a major...

Financial Knowledge and Best Practice Behavior

Science.gov (United States)

Robb, Cliff A.; Woodyard, Ann S.

2011-01-01

The current research examines the relationship between personal financial knowledge (both objective and subjective), financial satisfaction, and selected demographic variables in terms of best practice financial behavior. Data are taken from the Financial Industry Regulatory Authority's (FINRA) National Financial Capability Study, a nationally…

RURAL FINANCIAL MARKETS: AN OVERVIEW

OpenAIRE

Spio, Kojo; Groenewald, Jan A.

1997-01-01

The paper seeks to present an in depth overview of rural financial markets in developing countries. Attention is given to the role of financial markets in the development process, approaches to rural finance in developing countries, and formal and informal financial markets. The pro and cons of the various financial markets were also considered.

Modeling Financial Innovation and Economic Growth: Why the Financial Sector Matters to the Real Economy

Science.gov (United States)

Chou, Yuan K.

2007-01-01

The author devises a simple way of incorporating the financial sector into a growth model that is pedagogically useful. Financial innovation raises the efficiency of financial intermediation by increasing the variety of financial products and services, resulting in improved matching of the needs of individual savers with those of firms raising…

Invest in Financial Literacy

Science.gov (United States)

Bush, Sarah B.; McGatha, Maggie B.; Bay-Williams, Jennifer M.

2012-01-01

The current state of the economy elevates the need to build awareness of financial markets and personal finance among the nation's young people through implementing a financial literacy curriculum in schools. A limited amount of time spent on financial literacy can have a positive effect on students' budgeting skills. This knowledge will only add…

Does Financial Literacy Moderate the Relationship among Demographic Characteristics and Financial Risk Tolerance? Evidence from Egypt

Directory of Open Access Journals (Sweden)

Amir Ali Shusha

2017-09-01

Full Text Available Financial risk tolerance is certainly an important topic for researchers, investors and personal financial planners or consultants. This study purposed to investigate the effect of demographic characteristics on financial risk tolerance among Egyptians. A literature review of demographic determinants of financial risk tolerance showed dialectical results. Therefore, this study attempts to clarify the debatable issues in these results by studying the moderating role of financial literacy in relationships among demographic characteristics and financial risk tolerance. The study sample included 386 respondents representing different segments of Egyptian people. Using the hierarchical regression analysis, the results demonstrated that there were significant effects of gender, age, educational level and annual income on financial risk tolerance. Moreover, the financial literacy moderates the relationships among demographic characteristics of individuals and their tendency to take a risk.

Vector financial rogue waves

International Nuclear Information System (INIS)

Yan, Zhenya

2011-01-01

The coupled nonlinear volatility and option pricing model presented recently by Ivancevic is investigated, which generates a leverage effect, i.e., stock volatility is (negatively) correlated to stock returns, and can be regarded as a coupled nonlinear wave alternative of the Black–Scholes option pricing model. In this Letter, we analytically propose vector financial rogue waves of the coupled nonlinear volatility and option pricing model without an embedded w-learning. Moreover, we exhibit their dynamical behaviors for chosen different parameters. The vector financial rogue wave (rogon) solutions may be used to describe the possible physical mechanisms for the rogue wave phenomena and to further excite the possibility of relative researches and potential applications of vector rogue waves in the financial markets and other related fields. -- Highlights: ► We investigate the coupled nonlinear volatility and option pricing model. ► We analytically present vector financial rogue waves. ► The vector financial rogue waves may be used to describe the extreme events in financial markets. ► This results may excite the relative researches and potential applications of vector rogue waves.

38 CFR 41.310 - Financial statements.

Science.gov (United States)

2010-07-01

... 38 Pensions, Bonuses, and Veterans' Relief 2 2010-07-01 2010-07-01 false Financial statements. 41...) AUDITS OF STATES, LOCAL GOVERNMENTS, AND NON-PROFIT ORGANIZATIONS Auditees § 41.310 Financial statements. (a) Financial statements. The auditee shall prepare financial statements that reflect its financial...

7 CFR 3052.310 - Financial statements.

Science.gov (United States)

2010-01-01

... 7 Agriculture 15 2010-01-01 2010-01-01 false Financial statements. 3052.310 Section 3052.310....310 Financial statements. (a) Financial statements. The auditee shall prepare financial statements... appropriate, cash flows for the fiscal year audited. The financial statements shall be for the same...

Framing financial culture

DEFF Research Database (Denmark)

Just, Sine Nørholm; Mouton, Nicolaas T.O.

2014-01-01

between competing frames leads to the conclusion that this political “blame game” is related to struggles over how to define the scandal, how to conceptualize its causes, and policy recommendations. Banks may have lost the battle of “Liborgate,” but the war over the meaning of financial culture is far...... from over. Originality/value – The paper is theoretically and methodologically original in its combination of the theories of framing and stasis, and it provides analytical insights into how sense is made of financial culture in the wake of the financial crisis....

ICAF Financial Services Industry Study

Science.gov (United States)

2005-06-01

Mishkin , Frederic S. and Stanley G. Eakins. Financial Markets + Institutions . Boston, MA: Addison Wesley. 2003... Financial Markets , Federal Reserve Bank of New York, 1998. Mishkin , Frederic S. and Eakins, Stanley G., Financial Markets + Institutions , Fourth...discussion of the industry would be complete without an understanding of the concept of moral hazard in the financial markets . According to Mishkin

Balancing Responsibilities – Financial Literacy

Directory of Open Access Journals (Sweden)

Gail Pearson

2017-03-01

Full Text Available In Australia there is an obligation to promote the informed participation of financial consumers while in South Africa there is an obligation to educate consumers. The Australian obligation is concerned with the financial system as a whole while the South African obligation has generally been focused on general financial education as a tool to promote financial inclusion. There is no obligation for consumers to attain a minimum standard of literacy in credit or finance generally. Financial literacy is one among a number of strategies directed towards inducing changes in consumer behaviour. It sits between the old regulatory model which relies on disclosure of information for effective and rational decision-making and a newer regulatory model which takes into account individuals' perceptions and behavioural biases and may seek to accommodate for these by imposing obligations on financial services providers beyond the mere disclosure of information. Financial literacy is generally the ability to understand how money works, how a person can earn money or make it more. It specifically refers to the set of skills and knowledge that allows people to make informed and effective decisions with all of their financial resources. This article discusses Australian and South African legal obligations and social responsibilities aimed at promoting the financial literacy of consumers.

Invention profiles and uneven growth in the field of emerging nano-energy

International Nuclear Information System (INIS)

Guan, Jiancheng; Liu, Na

2015-01-01

This paper aims to synthetically investigate invention profiles and uneven growth of technological knowledge in the emerging nano-energy field, based on patents data extracted from the Derwent Innovation Index (DII) database during the time period 1991–2012. The trend analysis shows that invention in this field has experienced enormous growth and also diversification over the past 22 years. The co-occurrence network of burst technology domains reveals that technology domains constantly burst, and innovative progress in nanotechnology has tremendously contributed to energy production, storage, conversion and harvesting and so on. Nano-energy patented inventions mainly come from a combinatorial process with a very limited role of developing brand-new technological capabilities. Reusing existing technological capabilities including recombination reuse, recombination creation and single reuse is the primary source of inventions. For the impacts of technology networks' embeddedness, we find that network tie strength suppresses the growth of technological knowledge domains, and network status and convergence both facilitate the growth of technological knowledge domains. We expect that this study will provide some enlightenment for inventing or creating new knowledge in emerging fields in complex technological environment. - Highlights: • We define and utilize a unique dataset of nano-energy patents. • We identify and map the burst technological knowledge domains. • Quantitative argument is provided to prove the combinatorial invention. • Impacts of network embeddedness on growth of technology domain are examined. • Network characteristics affect the growth of technology domain

THE OPTIMIZATION OF THE ENTERPRISE FINANCIAL ANALYSIS TROUGH THE FINANCIAL SYSTEM OF CONTROL DU PONT

Directory of Open Access Journals (Sweden)

GÂDOIU MIHAELA

2016-06-01

Full Text Available The return on assets and the return on equity are essential indicators for the assessment of the company performance. They have a rich financial content, but there are many cases where the figure sometimes shows a “prettier” reality. In such cases it is necessary to treat and interpret financial rates with caution, taking into account, at the same time, other methods used in the financial analysis. The objective of this paper is to present a popular financial diagnosis optimization method - the Du Pont financial control system, that has an important role in the financial analysis of the company because it is related to the return on assets and the return on equity of the company as a result of the interaction of several factors synthesized through reports built based on information taken from the annual financial statements.

Financial Sector Assessment : Morocco

OpenAIRE

World Bank; International Monetary Fund

2017-01-01

A joint International Monetary Fund (IMF)-World Bank mission visited Rabat and Casablanca in 2015, to assess the soundness and resilience of the banking system, the state of play in financial inclusion and infrastructure, the oversight frameworks for banking, capital markets and financial market infrastructures, crisis preparedness, and update the findings of the Financial Sector Assessme...

Predictors of financial capacity performance in older adults using the Financial Competence Assessment Inventory.

Science.gov (United States)

Pachana, Nancy A; Byrne, Gerard J; Wilson, Jill; Tilse, Cheryl; Pinsker, Donna M; Massavelli, Bronwyn; Vearncombe, Katharine J; Mitchell, Leander K

2014-06-01

Declines in financial capacity in later life may arise from both neurocognitive and/or psychiatric disorders. The influence of socio-demographic, cognitive, health, and psychiatric variables on financial capacity performance was explored. Seventy-six healthy community-dwelling adults and 25 older patients referred for assessment of financial capacity were assessed on pertinent cognitive, psychiatric, and financial capacity measures, including Addenbrooke's Cognitive Examination - Revised (ACE-R), Informant Questionnaire on Cognitive Decline in the Elderly (IQCODE), Geriatric Depression Scale (GDS), Geriatric Anxiety Inventory (GAI), selected Neuropsychiatric Inventory (NPI) items, Financial Competence Assessment Inventory (FCAI), and Social Vulnerability Scale (SVS). The internal consistency of the debt management subscale of the FCAI was relatively poor in our sample. Financial capacity performance differed between controls and patients. In our sample, performance on the FCAI was predicted by Mini-Mental State Examination, IQCODE, and GAI, but not by ACE-R, GDS, NPI items, or SVS (adjusted R(2) = 0.7059). Anxiety but not depression predicted financial capacity performance, possibly reflecting relatively low variance of depressive symptoms in this sample. Current cognitive decline as measured by the informant-rated IQCODE was more highly correlated to financial capacity than either educational attainment or ACE-R scores. Lack of significance of ACE-R data may reflect the instrument's decreased sensitivity to domains relevant to financial capacity, compared with more detailed neuropsychological assessment tools. The FCAI displayed fairly robust psychometric properties apart from the debt management subscale.

Financial Key Ratios

OpenAIRE

Tănase Alin-Eliodor

2014-01-01

This article focuses on computing techniques starting from trial balance data regarding financial key ratios. There are presented activity, liquidity, solvency and profitability financial key ratios. It is presented a computing methodology in three steps based on a trial balance.

Editorial: Special Issue on Financial Planning

Directory of Open Access Journals (Sweden)

Mark Brimble

2012-11-01

Full Text Available AbstractThe special edition presents current research in the area of financial planning. With the continual upheaval inglobal financial markets (including Australia, the general trend towards self-funded retirement and lessreliance on the state, financial crises and the continual regulatory changes in the financial markets, this issue istimely and topical. This is the third special edition on financial planning, providing an excellent outlet forquality research in financial planning.

Can a return to Glass-Steagall provide financial stability in the US financial system?

Directory of Open Access Journals (Sweden)

Jan Kregel

2010-01-01

Full Text Available In the immediate aftermath of the current financial crisis in the United States the response has been to resolve small and medium size banks, while large banks experiencing financial trouble have been given both direct and indirect government support. This, however, has resulted in a number of larger banks absorbing smaller ones, creating an even smaller number of even larger banks that dominate the financial system. This article deals first with a comparison of the problems created by “too big to fail†financial institutions. The second section deals with the possible restoration of Glass-Steagall type legislation as a means of restoring single-function financial institutions. It concludes that alternatives to separation of functions will have to be found to deal with multifunction financial institutions since most lending activity requires securities markets activities.

Liquidity management through financial planning

Directory of Open Access Journals (Sweden)

Kameníková Katarína

2001-12-01

Full Text Available One of the basic goals of financial management is to provide financial property and capital for running of the firm, as well as for its development, that means provide optimal firm´s liquidity.To improve liquidity is possible provide through various ways. In present time there is increasing importance of financial planning., where planning of liquidity presents one of its integral part. Therefore I deal in presented paper with possible liquidity improvement through calculation of financial planning in chosen slovac magnesite firm, exploitating and elaborating magnesite raw material.For creating of financial plann of liquidity I chosed to use one of the practical methods - method of financial indexes. Such method presents process of planning optimal liquidity with providing of required rentability. Such plann must provide balance between income and outcome, as well as secure achievment of expected profit.I used tools of financial planning for calculation of possible liquidity improvement in mentioned firm, where present financial situation is characterised by law liquidity, but high rentability. Such position presents transitive crisis situation, therefore firm must create new financial property or decrease liabilities, in order to overcome negative state of liquidity.Performed calculation showed, that change in balance sheet due to the growth of financial property will improve liquidity, rentability will be maintained, therefore firm will be able to transit from crisis situation.Providing of liquidity will present one of possible way how to care for financial health of firm. But such process is not simple, it must be done with connection to the changes of internal and external conditions of the firm.

The instruments of financial planning

OpenAIRE

Durnov, V.

2011-01-01

The paper analyzes financial planning efficiency for enterprise management improvement. The author describes the system of financial tools and considers in detail financial planning methods, their strengths and weaknesses

Financial inclusion: Policies and practices

Directory of Open Access Journals (Sweden)

Thankom Arun

2015-12-01

Full Text Available As a key enabler for development, financial inclusion is firmly placed on the agenda of most governments as a key policy priority. Against this background, this round table provides a global and regional perspective on the policies and practices of financial inclusion. Using macro data, the collection reveals the diversity in the efforts towards achieving financial inclusion and the need for a progressive approach in financial inclusion. Further to this, the round table provides the regional perspectives on the policies and practices of financial inclusion in India, South Africa, and Australia.