Halland, Havard; Noel, Michel; Tordo, Silvana; Kloper-Owens, Jacob J.
Over the past 15 years, the number of government-sponsored strategic investment funds has grown rapidly in countries at all income levels. This paper identifies some of the challenges that these funds face in their endeavor to achieve economic policy objectives while also securing commercial financial returns—the so-called double bottom line. Through the review of the objectives, investmen...
Mann, D.; Goobie, G.; MacMillan, L.
The possible use of options pricing theory for evaluating long-term capital investments is discussed. Using the Black and Scholes option pricing model, five variables were evaluated for a hypothetical oil sands project. These variables are: stock price as determined by the earning power of the company; exercise price which equals the investment cost of the project; price standard deviation which is assumed to be 50%; the length of time for which the company will maintain its option to invest in the project, and finally the risk free rate which is approximately equal to the yield in long term government securities. A sensitivity analysis on these variables can provide management with information on how best to influence the option value. A more in-depth analysis could provide valuable information about strategic choice for large projects. 5 refs., 3 figs
Fine, Allan; Bacchetti, J Alex
With operating margins showing some improvement in 2003, Y2K being a distant memory, and many critical capital investment decisions delayed as long as possible, hospitals have been on a relative spending spree, building new facilities, renovating operating rooms and inpatient units, and investing in new medical and information technologies. However, with pressure on both cost and revenue expected to continue, if not increase, this spending spree may be short-lived, and hospitals must improve their capital planning efforts; align them with their mission, vision, and strategies; and ensure that capital is available when unplanned or even expected needs arise. This article explores some of the challenges that hospitals face in their capital planning efforts and, more importantly, suggests the necessity for hospitals to integrate capital and strategic planning. Capital planning must be driven by an organization's strategies; however, we also argue that an organization's ability to execute its strategies is highly dependent on the existence of a cohesive capital prioritization and planning process. In this article, we explore a number of issues critical to developing a comprehensive capital plan, including estimating capital costs, evaluating and designing strategies to contend with risk, saving for the proverbial "rainy day," and recognizing the role and value of philanthropy, while challenging some conventional thinking of hospital executives with respect to investment, growth, and planning.
Franklin, Michael A
Recent and rapid advances in the implementation of technology have greatly affected the quality and efficiency of healthcare delivery in the United States. Simultaneously, diverse generational pressures-including the consumerism of millennials and unsustainable growth in the costs of care for baby boomers-have accelerated a revolution in healthcare delivery that was marked in 2010 by the passage of the Affordable Care Act.Against this backdrop, Maryland and the Centers for Medicare & Medicaid Services entered into a partnership in 2014 to modernize the Maryland All-Payer Model. Under this architecture, each Maryland hospital negotiates a global budget revenue agreement with the state's rate-setting agency, limiting the hospital's annual revenue to the budgetary cap established by the state.At Atlantic General Hospital (AGH), leaders had established a disciplined strategic planning process in which the board of trustees, medical staff, and administration annually agree on goals and initiatives to achieve the objectives set forth in its five-year strategic plans. This article describes two initiatives to improve care using technology. In 2006, AGH introduced a service guarantee in the emergency room (ER); the ER 30-Minute Promise assures patients that they will be placed in a bed or receive care within 30 minutes of arrival in the ER. In 2007, several independent hospitals in the state formed Maryland eCare to jointly contract for intensive care unit (ICU) physician coverage via telemedicine. This technology allows clinical staff to continuously monitor ICU patients remotely. The positive results of the ER 30-Minute Promise and Maryland eCare program show that technological advances in an independent, small, rural hospital can make a significant impact on its ability to maintain independence. AGH's strategic investments prepared the organization well for the transition in 2014 to a value-based payment system.
Lorenczik, Stefan; Malischek, Raimund
Markets for natural resources and commodities are often oligopolistic. In these markets, production capacities are key for strategic interaction between the oligopolists. We analyze how different market structures influence oligopolistic capacity investments and thereby affect supply, prices and rents in spatial natural resource markets using mathematical programing models. The models comprise an investment period and a supply period in which players compete in quantities. We compare three models, one perfect competition and two Cournot models, in which the product is either traded through long-term contracts or on spot markets in the supply period. Tractability and practicality of the approach are demonstrated in an application to the international metallurgical coal market. Results may vary substantially between the different models. The metallurgical coal market has recently made progress in moving away from long-term contracts and more towards spot market-based trade. Based on our results, we conclude that this regime switch is likely to raise consumer rents but lower producer rents. The total welfare differs only negligibly.
Lorenczik, Stefan; Malischek, Raimund [Koeln Univ. (Germany). Energiewirtschaftliches Inst.; Trueby, Johannes [International Energy Agency, 75 - Paris (France)
Markets for natural resources and commodities are often oligopolistic. In these markets, production capacities are key for strategic interaction between the oligopolists. We analyze how different market structures influence oligopolistic capacity investments and thereby affect supply, prices and rents in spatial natural resource markets using mathematical programing models. The models comprise an investment period and a supply period in which players compete in quantities. We compare three models, one perfect competition and two Cournot models, in which the product is either traded through long-term contracts or on spot markets in the supply period. Tractability and practicality of the approach are demonstrated in an application to the international metallurgical coal market. Results may vary substantially between the different models. The metallurgical coal market has recently made progress in moving away from long-term contracts and more towards spot market-based trade. Based on our results, we conclude that this regime switch is likely to raise consumer rents but lower producer rents. The total welfare differs only negligibly.
Henriques, Irene; Sadorsky, Perry
In this paper, we investigate how oil price volatility affects the strategic investment decisions of a large panel of US firms. This paper uses key insights from the real options literature to develop a model of a company's strategic investment and shows how changes in oil price volatility can impact strategic investment decisions. The model is estimated using recently developed generalized method of moment estimation techniques for panel data sets. Empirical results are presented to show that there is a U shaped relationship between oil price volatility and firm investment. This is consistent with the predictions from the strategic growth options literature. The results should be useful to decision makers, investors, managers, policy makers and others who need to make strategic investment decisions in an uncertain world. (author)
Turekulova, Assiya N.; Mukhambetova, Lyazzat K.; Doshan, Almagul S.; Issabekov, Baurzhan N.; Chimgentbayeva, Gulbakyt K.; Turegeldinova, Aliya Zh.
When system risks are high most investors choose to exit the market; however, there are some contrarian investors who opt to make investments. The authors analyzed the main goals of the investment process and measures that should be provided by the government to stimulate investments and innovation especially by means of investment banking. The…
Minggao XUE; Pu GONG
This article analyzes R & D investment decisions in an asymmetrical case. The investment decisions share three important characteristics. First, the investment is completely irreversible. Second,there are two kinds of uncertainties over the future returns from the investment and over technology in R & D process, respectively. Third, there is strategic competition in the asymmetrical case. This article presents the optimal investment threshold values and the optimal investment rule of high-efficient firm (leader), and shows that the investment threshold values are reduced by competition of two firms.Finally, the mixed investment strategies for two firms, the probability that each firm separately exercises the option to invest, and the probability that two firms simultaneously exercise the option are given in the paper.
朱盈盈; 曾勇; 李平; 何佳
We analyze the background, status quo and characteristics of introducing foreign strategic investors into Chinese banks, and summarize various arguments on this issue. Our conclusions are as follows: introducing foreign strategic investors into Chinese banks is a necessary step in the reform and opening of China’s banking sector, and is encouraged by the regulatory authorities; introducing foreign strategic investors into Chinese banks has presented some unique features; from the perspective of control of financial resources, under the current institutional and legal regimes, introducing foreign strategic investors will not threaten China’s financial security; there is no convincing evidence that Chinese banks have been sold short with the introduction of foreign strategic investors; the results of strategic investment remain to be seen.
strategic plan for 2015-2020 — pride not only as its chairperson, but also as a .... Enabling leaders in government, research, and business in the developing world .... This planning, monitoring, and reporting will keep the. Centre focused on the ...
J.T.J. Smit (Han); L. Trigeorgis (Lenos)
textabstractCorporate finance and corporate strategy have long been seen as different sides of the same coin. Though both focus on the same broad problem, investment decision-making, the gap between the two sides--and between theory and practice--remains embarrassingly large. This book synthesizes
Arnold, Scot A; Tyson, Karen W; Aronin, Benjamin S
IDA assisted the Strategic Materials Protection Board in assessing the extent to which domestic producers of strategic materials are investing to ensure continued domestic production of these materials...
During 1994 and 1995 the Electric Power Research Institute collaborated with the US Department of Energy's National Renewable Energy Laboratory in support of seven feasibility studies of integrated biomass systems. The goal of the studies was to assess the economic viability and environmental implications of each system. The products were comprehensive business plans for implementation of the proposed systems. One general conclusion from these studies is that the feasibility of any biomass power system is determined by the costs and unique characteristics intrinsic to the specific system. Because of the limited need for new electric capacity in most of the US, and the relatively low capital investment required for implementation, cofiring currently holds more appeal than any of the more advanced conversion options. Cofiring savings accrue from offsets of coal, along with SO x allowances and any available NO x or carbon credits. The closed loop tax credit authorized by the Energy Policy Act of 1992 serves to make energy crops more nearly cost-competitive with coal and natural gas. Biomass gasification combined-cycle units give promise of economic viability after the turn of the century, and as energy crops become more cost-competitive with waste feedstocks, agricultural constituencies will become more integrally involved in the establishment of biomass energy systems. At present, corollary benefits are critical if a system is to be economically feasible. A valid no-regrets policy for global climate-change mitigation that includes near-term investments in biomass technologies should result in large payoffs over the next several decades
This paper discusses to what extent spatial visions might play an important role in not only supporting, but also legitimizing the need for investments in transport infrastructures. Drawing on discussion of an ‘infrastructure turn’ in strategic spatial planning (Dodson 2009), this paper explores...... how the recently proposed vision of a Loop City for the Danish/Swedish Øresund Region has played an important role in legitimizing and building political support for a light railway connecting the outer suburbs of Copenhagen. It is not unusual for large investments in new transport infrastructures...
Soh, Li Khee Christine
This thesis investigates the interplay of context with culture on strategic investment decision (SID) making practises in strategic management accounting, strategic management, cross cultural management and global strategic management research in Singapore using three research questions. These research questions commence from an inter-country perspective on SID making and narrow down to the theme of foreign versus domestic investments. The three research questions are: Re...
Arnold, Scot A; Tyson, Karen W; Aronin, Benjamin S
.... strategic materials producers are investing for continued domestic production. The titanium sector is investing aggressively in anticipation of a growing share of global commercial aerospace material markets for dramatic expansion...
Research funding is society's investment in its future, but in difficult economic times, investment in anything with a less than immediate payoff can be a challenge. Making federal research investment decisions for large scale issues with political, social, and economic consequences has always involved competition for available resources played out in universities, Federal executive departments and agencies, and in the authorizing and appropriating committees and subcommittees of the legislature. Designing a research program that relates to the national need for a long-term strategic approach to consequence management is a challenge in the natural and social sciences as well as in political analysis. A successful effort must involve intensive interactions by research managers with consequence managers, evaluation of the relative cost and potential effectiveness of alternative research strategies, an estimation of time to completion and potential for success of research, and having a common understanding of roles and responsibilities of national and local governments, as well as private enterprise and affected individuals. All this must be undertaken in concert with the development of risk communication strategies that are science-based but deal with managing societal expectations based on the costs and practicality of potential alternative suites of solutions.(author)
Paula T. Kaufman
Full Text Available University administrators are asking library directors to demonstrate their library's value to the institution in easily articulated quantitative terms that focus on outputs rather than on traditionally reported input measures. This paper reports on a study undertaken at the University of Illinois at Urbana-Champaign that sought to measure the return on the university's investment in its library. The study sought to develop a quantitative measure that recognizes the library's value in supporting the university's strategic goals, using grant income generated by faculty using library materials. It also sought to confirm the benefits of using electronic resources and the resulting impact on productivity over a 10-year period. The results of this study, which is believed to be the first of its kind, represent only one piece of the answer to the challenge of representing the university's total return from its investment in its library.
On October 11,Hami region and Jiangxi Copper Group Corporation held a contractsigning ceremony for strategic cooperation,signaling that Hami region has become a key strategic investment base of Jiangxi Copper Group Corporation,a company with the biggest manufacture base of copper products in China.Hami region boasts rich nonferrous metal
The thesis presents dynamic models on investment under uncertainty with the focus on strategic interaction and energy market applications. The uncertainty is modelled using stochastic processes as state variables. The specific questions analyzed include the effect of technological and revenue related uncertainties on the optimal timing of investment, the irreversibility in the choice between alternative investment projects with different degrees of uncertainty, and the effect of strategic interaction on the initiating of discrete investment projects, on the abandonment of a project, and on incremental capacity investments. The main methodological feature is the incorporation of game theoretic concepts in the theory of investment. It is argued that such an approach is often desirable in terms of real applications, because many industries are characterized by both uncertainty and strategic interaction between the firms. Besides extending the theory of investment, this line of work may be seen as an extension of the theory of industrial organization towards the direction that views market stability as one of the factors explaining rational behaviour of the firms. (orig.)
Adumitroaie, V.; Weisbin, C. R.
Complex technology investment decisions within NASA are increasingly difficult to make such that the end results are satisfying the technical objectives and all the organizational constraints. Due to a restricted science budget environment and numerous required technology developments, the investment decisions need to take into account not only the functional impact on the program goals, but also development uncertainties and cost variations along with maintaining a healthy workforce. This paper describes an approach for optimizing and qualifying technology investment portfolios from the perspective of an integrated system model. The methodology encompasses multi-attribute decision theory elements and sensitivity analysis. The evaluation of the degree of robustness of the recommended portfolio provides the decision-maker with an array of viable selection alternatives, which take into account input uncertainties and possibly satisfy nontechnical constraints. The methodology is presented in the context of assessing capability development portfolios for NASA technology programs.
Wüstenhagen, Rolf; Menichetti, Emanuela
This paper introduces the special issue on Strategic Choices for Renewable Energy Investment, which is a collection of best papers presented at an international research conference held in St. Gallen (Switzerland) in February 2010. Substantial private investment is needed if public policy objectives to increase the share of renewable energy and prevent dangerous anthropogenic climate change are to be achieved. The aim of this paper, and the entire special issue, is to draw scholarly attention to the processes underlying strategic choices for renewable energy investment, and how they are influenced by energy policy. We disentangle the role of risk-return perceptions, portfolio effects and path dependence in explaining energy investment decisions, and suggest that the heterogeneous universe of investors requires a segmentation of policies. The paper outlines some of the rich opportunities for further research in this emerging area.
Value is often perceived differently by the proponents of new information technologies and those who allocate resources and define priorities. Such differences often become a roadblock to meeting true business needs. Project justifications regularly rely on calculated cost savings, which rarely measure the full benefit of new technologies. In fact, if cost savings provide a complete picture, then the organization is probably just automating routine clerical operations and has abandoned efforts that would provide significant strategic value. Strategic value is not limited to financial calculations, but includes quality, time and risk criteria. This paper describes approaches for measuring strategic value that can provide organizations with proven techniques to improve performance, reengineer processes, benchmark performance against other suppliers, identify outsourcing opportunities, or defend themselves from pressures to outsource. Many organizations respond to tightening budgets by cutting overhead. These measurement approaches can demonstrate how overhead is critical to organizational effectiveness and how cost savings can be found, instead, by measurably improving performance throughout the organization. Finally, the paper describes efforts underway within the Department of Energy and at the Hanford Site to implement the approaches described in this paper
Conrad, K.W. [Boeing Computer Services Co., Richland, WA (United States)
Value is often perceived differently by the proponents of new information technologies and those who allocate resources and define priorities. Such differences often become a roadblock to meeting true business needs. Project justifications regularly rely on calculated cost savings, which rarely measure the full benefit of new technologies. In fact, if cost savings provide a complete picture, then the organization is probably just automating routine clerical operations and has abandoned efforts that would provide significant strategic value. Strategic value is not limited to financial calculations, but includes quality, time and risk criteria. This paper describes approaches for measuring strategic value that can provide organizations with proven techniques to improve performance, reengineer processes, benchmark performance against other suppliers, identify outsourcing opportunities, or defend themselves from pressures to outsource. Many organizations respond to tightening budgets by cutting overhead. These measurement approaches can demonstrate how overhead is critical to organizational effectiveness and how cost savings can be found, instead, by measurably improving performance throughout the organization. Finally, the paper describes efforts underway within the Department of Energy and at the Hanford Site to implement the approaches described in this paper.
Dermot Leahy; Catia Montagna
We critically consider the conventional belief that the attractiveness of international outsourcing lies in cheaper labour costs overseas and that it offers a means to ‘escape’ the power of unions. We develop an oligopoly model in which firms facing unionised domestic labour market choose between producing an intermediate in-house or outsourcing it to a non-unionised foreign supplier that makes a relationship specific investment in developing the intermediate. We show that outsourcing typical...
Ioana Veronica ALEXA
Full Text Available This paper analyses the international trade dynamics between two countries as a two-player, non-zero sum, cooperative game. The reason behind this type of approach is that we consider game theory as an important instrument for the analysis of international trade dynamics. The model that we develop in this paper follows the multi-sectorial general-equilibrium model of oligopoly and trade. We will analyze the case where trade takes place because of oligopolistic interaction and comparative advantage. Even though we follow the general framework, the main departure from the existing models on the subject is that in our model both labor and capital are used in production and that the firms have a choice between specializing in labor or capital-intensive goods by choosing weather or not to invest in capital and therefore use two factors of production. As required by a general equilibrium model, we will try to establish an equilibrium on both labor and capital markets and we will try to determine the labor and capital intensity in both countries as well as the equilibrium level of the wage and rental rate.
Ulvick, S. J.; Tighe, D. W.
In-Q-Tel is a strategic investment firm that works to identify, adapt, and deliver innovative technology solutions to support the missions of the Central Intelligence Agency and the broader U.S. Intelligence Community (IC). Launched by the CIA in 1999 as a private, independent, not-for-profit organization, IQT's mission is to identify and partner with companies developing cutting-edge technologies that serve the national security interests of the United States. Working from an evolving strategic blueprint defining the Intelligence Community's critical technology needs, IQT engages with entrepreneurs, growth companies, researchers, and venture capitalists to deliver technologies that provide superior capabilities for the CIA and the broader IC. To date, IQT has reviewed more than 6,300 business proposals, invested in more than 100 companies, and delivered more than 140 technology solutions to the U.S. Intelligence Community.
Ritz, R. A.
This paper presents a game-theoretic analysis of multimarket competition with strategic capacity investments, motivated by recent developments in international natural gas markets. It studies the competitive implications of heterogeneity in firm structure arising from asset specificity. A single-market focus confers advantage even in the absence of superior value or cost. Lower costs and a sharper organizational focus are self-enforcing in generating competitive advantage. This establishes a ...
The purpose of this study was to examine the trends in co-branding, especially when one brand is linked with another brand through a business strategy, in order to investigate the factors that lead to co-branding as a strategic investment option in the hospitality industry. Of primary interest was whether co-branding strategies are significant issues in the hospitality industry. This study also investigated the relationship between explicit and implicit requirements and timing of entry for co...
Full Text Available Although there has been rapid expansion of higher education around the globe, such expansion has not resulted in a more equitable system. Drawing on the work of Nancy Fraser, equity in higher education is conceptualised as ‘parity of participation’ and includes both equity of access and outcomes. The tensions between expansion and equity are illustrated by comparing South Africa’s equity challenges with those of Brazil and the USA. Focusing on South Africa’s critical choices, four scenarios or possible futures are provided to illustrate some of the trade-offs and strategic choices. The main argument is that if South Africa’s higher education system continues to expand without a concomitant investment in the effectiveness of teaching and learning, it will not achieve the policy goals of equity of access and outcomes. Furthermore the investment needs to be strategically targeted to interventions that can serve as systemic levers of change for reducing drop-out rates and improving graduation rates. To this end, over the next decade the state needs to prioritise an investment in an undergraduate curriculum more ‘fit for purpose’. The investment needs to be in curriculum reform that normalises different levels of foundational provision, identifies and removes curriculum obstacles that delay or impede graduation, and provides opportunities for ‘breadth’ for all students, not only those who come from privileged backgrounds.
Lynskey, Michael J.
This article examines how two core factors--strategic and entrepreneurial dynamics--influence research and development (R&D) investment in new technology-based firms (NTBFs) using data from a questionnaire survey conducted in Japan. Among the strategic dynamics, it is found that joint R&D projects with universities have a positive,…
Full Text Available We empirically investigate how different location-specific variables and strategic motives influenced Australian and New Zealand (ANZ firms' ownership strategy choices in foreign markets between 1998 and 2008. This study is the first to analyse how strategic motives and ownership-specific, location-specific, and internalisation variables have influenced the ownership structure choices of ANZ firms in foreign markets. The results indicate that large market potential and low levels of cultural distance increase the probability that ANZ manufacturing firms will undertake wholly owned subsidiary (WOS ownership structures and market-seeking (MS and/or efficiency-seeking (ES foreign direct investment (FDI. Low exchange rate fluctuation increases the probability that ANZ manufacturing firms will undertake WOS-type risk reduction-seeking (RRS FDI.
Kevin ZHU; John WEYANT
Viewing investment projects in new technologies as real options, this paper studies the effects of endogenous competition and asymmetric information on the strategic exercise of real options. We first develop a multi-period, game-theoretic model and show how competition leads to early exercise and aggressive investment behaviors and how competition erodes option values. We then relax the typical full-information assumption found in the literature and allow information asymmetry to exist across firms. Our model shows, in contrast to the literature that payoff is independent of the ordering of exercise, that the sequential exercise of real options may generate both informational and payoff externalities. We also find some surprising but interesting results such as having more information is not necessarily better.
Full Text Available Climate change is mainly caused by excessive emissions of carbon dioxide and other greenhouse gases. In order to reduce carbon emissions, cap and trade policy is implemented by governments in many countries, which has significant impacts on the decisions of companies at all levels of the low carbon supply chain. This paper investigates the decision-making and coordination of a low carbon supply chain consisting of a low carbon manufacturer who produces one product and is allowed to invest in green technology to reduce carbon emissions in production and a retailer who faces stochastic demands formed by homogeneous strategic customers. We investigate the optimal production, pricing, carbon trading, and green technology investment strategies of the low carbon supply chain in centralized (including Rational Expected Equilibrium scenario and quantity commitment scenario and decentralized settings. It is demonstrated that quantity commitment strategy can improve the profit of the low carbon supply chain with strategic customer behavior. We also show that the performance of decentralized supply chain is lower than that of quantity commitment scenario. We prove that the low carbon supply chain cannot be coordinated by revenue sharing contract but by revenue sharing-cost sharing contract.
Barclay, John W.
Advances in the genome sciences are leading to the development of new healthcare innovations relevant to the principles of personalized medicine. Genome BC, a non-profit research organization, invests in projects that will help facilitate the integration of these innovations into the delivery of healthcare. This analysis assesses the strategic positioning of private healthcare firms in BC to be early users of such innovations. The analysis assesses the suitability of investment from Genome BC...
Full Text Available Global warrant markets are among the most active financial markets in the retail derivatives investment landscape currently. In this context some of the most relevant markets in the last years have been the ones across Asia and in particular Hong Kong, Korea and Japan. This paper introduces the financial instruments used in connection with the warrant markets, pre-sents and offers suggestions for setting up a generic warrant market making system and in-troduces the main concepts and components that need to be taken into account when develop-ing these systems targeting an exchange driven or E-Businesscontext.
Gliedt, Travis; Hoicka, Christina E.
Highlights: • Energy Star property owners/managers view energy as strategic or financial investments. • Energy performance improvements and motivations differ by property type. • Energy projects are most often funded by internal cash reserves. • Motivations and funding sources differ by type of energy project. • Environmental sustainability is an important criterion in many energy projects. - Abstract: Due to its significant carbon footprint and cost-effectiveness for upgrades, the commercial property sector is important for climate change mitigation. Although barriers to energy system changes, such as funding, financing and information, are well recognized, Energy Star property owners and managers are successfully overcoming these barriers and instigating energy efficiency upgrades, renewable energy installations, and behavior and management programs. To examine the decision-making process that leads to energy performance improvements, a national survey of property owners and management organizations of buildings that earned an Energy Star score of 75 or higher was conducted. The extent to which energy upgrades were considered strategic investments motivated by environmental sustainability or corporate social responsibility, or financial investments motivated by payback period or return-on-investment criteria, was contingent upon the property type and type of energy project. Environmental sustainability was found to be an important motivation for energy projects in office spaces in general, but in the case of smaller office spaces was often combined with motivations for corporate social responsibility. Energy projects on education properties were motivated by financial investment. Building envelope and mechanical efficiency upgrades were considered financial investments, while renewable energy, green roofs, and water conservation technologies were considered environmental sustainability initiatives
Bodie, Zvi; Marcus, Alan J.
The integrated solutions for Bodie, Kane, and Marcus' Investments set the standard for graduate/MBA investments textbooks. The unifying theme is that security markets are nearly efficient, meaning that most securities are priced appropriately given their risk and return attributes. The content places greater emphasis on asset allocation and offers a much broader and deeper treatment of futures, options, and other derivative security markets than most investment texts. Connect is the only integrated learning system that empowers students by continuously adapting to deliver precisely what they need, when they need it, and how they need it, so that your class time is more engaging and effective.
The integrated solutions for Bodie, Kane, and Marcus' Investments set the standard for graduate/MBA investments textbooks. The unifying theme is that security markets are nearly efficient, meaning that most securities are priced appropriately given their risk and return attributes. The content places greater emphasis on asset allocation and offers a much broader and deeper treatment of futures, options, and other derivative security markets than most investment texts. McGraw-Hill's adaptive learning component, LearnSmart, provides assignable modules that help students master chapter core concepts and come to class more prepared. Bodie Investments' blend of practical and theoretical coverage combines with a complete digital solution to help your students achieve higher outcomes in the course
The main analytical tool in the SERIOUS-A project for determining investment strategies for providing electrical power to critical mission facilities at an installation by distributed generation (DG...
This paper discusses the issue of energy and mineral resources and the effect of appropriate strategic partnerships necessary for its development. The energy related minerals of interest are coal, tar-sand (bitumen), uranium and barytes/bentonite. The strategic development of the minerals and the impact on the Nigeria economy over the years are reviewed. Present status of these minerals show that harnessing them could have serious environmental consequences previously neglected. However, control of emissions for example from coal-fired power status add to the financial cost of the coal-fired power
Cumps, B.; Viaene, S.; Dedene, G.
In this article, we introduce a framework that can be used by organizations as a positioning instrument to think of business-ICT alignment decisions in light of the strategic importance of ICT (Information and Communication Technology) in their organization. We make a distinction between
Full Text Available This study examines how foreign investment can be driven by corporate social responsibility (CSR. By specifying the underlying mechanism of foreign investors’ stock picking behavior, we argue that CSR can attract foreign investment. Given that CSR actions are taken to meet various needs of its stakeholders, the host firm can convey a reliable signal to foreign investors as well as the stakeholders. As such, foreign investments can be increased in the host firm. This idea is examined in a sample of Korean firms. We hypothesize that Korean firms, as host firms, will have more foreign investments, instantiated by foreign ownership, if they are more actively engaged in CSR. To test this argument, we collected a panel dataset of the Korea Economic Justice Institute (KEJI Index between 2004 and 2009 to measure CSR performance of the firm. We estimated foreign ownership with respect to CSR performance. As a result, we found a positive effect of CSR performance on foreign ownership. Given the importance of foreign investment in host countries, this study opens an avenue that can account for foreign investors’ stock-picking behavior.
Full Text Available The purpose of the paper is to substantiate the feasibility of expanding the scope of investment insurance in Ukraine, taking into account its advantages over other types of insurance services as well as the possibility of minimizing the possible disadvantages. Methodology. The list of the research methods of the subject under consideration includes the monographic method, analysis, techniques of the abstract-logical method, etc. Results. The urgency of the article is that the disclosure of the internal potential of the insurance market in Ukraine should take place with the introduction or activation of modern insurance products capable of meeting several financial needs at once, not only of their consumers but of the state as a whole. The development of voluntary life insurance plays an important investment role in the country’s economy, therefore, at the moment, the need to develop new financial products aimed at increasing voluntary insurance is urgent. The share of life insurance services in the insurance market of Ukraine in dynamic is analysed. The purpose and positive consequences of expanding the segment of investment insurance are substantiated. Investment insurance as a financial product has both advantages and disadvantages. The benefits include the transparent structure of the insurance product, the choice of investment strategy, the possibility of obtaining increased investment returns while preserving the benefits of the insurance contract, preferential taxation of investment income, the existence of a guaranteed amount of payment in the contract, etc.; to the drawbacks – the lack of the possibility of early termination of the contract with the receipt of all the insurance premiums paid, the absence of a guarantee fund, guaranteed income, long-term contracts, limited range of people who can be insured. To enhance the use of investment insurance in Ukraine and to minimize these shortcomings, the prospects for the development of
For the past generation Norway has supplied Europe and other regions with oil, taking payment in euros or dollars. It then sends nearly all this foreign exchange abroad, sequestering its oil-export receipts - which are in foreign currency - in the oil fund to invest mainly in European and US stocks and bonds. The fund now exceeds $500 billion, second in the world to that of Abu Dhabi. It is claimed that treating these savings as a mutual fund invested in a wide array of US, European, and othe...
Suh, Hanjun; van Hillegersberg, Jos; Choi, J.; Chung, S.
The purpose of this research is to develop a comprehensive information system (IS) evaluation model for IS success linked to organizational performance. The primary focus of this research is to investigate the role of IT investment in business values by means of a group survey of about 300 business
Hung, Jui-long; Luo, Binjie
Introduction: Since 2015 is the year of FinTech in Taiwan, it is worth investigating the challenges that emerged when banks were encouraged to invest in FinTech companies for collaboration. This study aims to identify the strategic considerations in the process of searching for FinTech investment targets. Case description: This study used a case study investigation of a top-5 bank in Taiwan. The major data sources include the meeting notes of the FinTech investment task force and interviews w...
Hall, Matthew D; Dufton, Ann M; Katso, Roy M; Gatsi, Sally A; Williams, Pauline M; Strange, Michael E
In March 2014, GSK announced a number of new strategic investments in Africa. One of these included investment of up to 25 million Pounds Sterling (£25 million) to create the world's first R&D Open Lab to increase understanding of non-communicable diseases (NCDs) in Africa. The vision is to create a new global R&D effort with GSK working in partnership with major funders, academic centres and governments to share expertise and resources to conduct high-quality research. The Africa NCD Open Lab will see GSK scientists collaborate with scientific research centres across Africa. An independent advisory board of leading scientists and clinicians will provide input to develop the strategy and selection of NCD research projects within a dynamic and networked open-innovation environment. It is hoped that these research projects will inform prevention and treatment strategies in the future and will enable researchers across academia and industry to discover and develop new medicines to address the specific needs of African patients.
Full Text Available This paper examines the factors which influence sharing of the strategic information (in other words, electronic coordination in a buyer–supplier dyad. The antecedents of this coordination are examined rather well in the transaction cost economics (TCE theory and resource-dependency theory (RDT, while the supply chain management perspective is contemplated. The mentioned frameworks are used in the analysis. However, the research focus is narrowed down to the exploration of the antecedents of information exchange conducted via inter-organisational information systems (IOS. The empirical analysis is based on 198 observations of Norwegian companies operating in different types of industries. A regression model is used to test the hypotheses about the antecedents of strategic electronic coordination. The research results indicate that the direct effect of the supplier-specific investments in the IOS on the exchange of strategic information in the buyer–supplier dyad is not statistically significant. The supplier-specific investment in the IOS becomes positively associated with the strategic information exchange in the buyer–supplier dyad only when the buyer is dependent on the supplier. The buyer dependency creates a high motivation for the company to exchange the strategic information with the supplier who is more powerful in the dyad. This research concludes that the companies making substantial investments in the IOS for electronic coordination purposes may not reach their goals if relation-specific factors, such as buyer dependency, are not comprehensively considered.
Dal-Mas, Matteo; Giarola, Sara; Zamboni, Andrea; Bezzo, Fabrizio
Fossil fuel depletion and the increase of greenhouse gases emissions has been pushing the search for alternative fuels for automotive transport. The European Union has identified biofuel technology as one option for reducing its dependence on imported energy. Ethanol is a promising biofuel, but great uncertainty on the business profitability has recently determined a slowdown in the industry expansion. In particular, geographical plant location, biomass price fluctuation and fuel demand variability severely constrain the economic viability of new ethanol facilities. In this work a dynamic, spatially explicit and multi-echelon Mixed Integer Linear Program (MILP) modeling framework is presented to help decision-makers and potential investors assessing economic performances and risk on investment of the entire biomass-based ethanol supply chain. A case study concerning the corn-to-ethanol production supply chain in Northern Italy is used to demonstrate the effectiveness of the proposed modeling approach. The mathematical pattern addresses the issue of optimizing the ethanol supply network over a ten years' time period under uncertainty on biomass production cost and product selling price. The model allows optimizing economic performances and minimize financial risk on investment by identifying the best network topology in terms of biomass cultivation site locations, ethanol production plant capacities, location and transport logistics. -- Highlights: →A dynamic spatially explicit Mixed Integer Linear Program (MILP) of the entire corn-based ethanol supply chain is proposed. →Uncertainty on corn price and ethanol selling price is taken into account. →The model allows assessing and optimizing the supply chain economic performance and risk on investment. →A case study concerning the corn-to-ethanol production in Northern Italy demonstrates the effectiveness of the approach.
Full Text Available 2010 brings news regarding China's economic strategy. It has strengthened its trade relations withemerging economies, making significant investments, plus significant imports and exports, proving again thatit is the first commercial power in the world. China, considered being "the manufacturer of the world", alongwith Brazil and Russia, major exporters of raw materials, and India, the country which offers the cheapesttechnology services, has made the world organization, named as BRIC. In 2009, China has consolidated itsposition as the main trading partner with Brazil, a position that enabled it in 2010 to become the largestinvestor in the Brazilian territory. One of the most important Chinese strategies is the monetary one, throughwhich China is trying to grow internationally Yuan’s importance, reducing the dependence on the dollar bydriving autonomous trade flows. It is expected that Yuan will become the main currency in Asia, main goalthat will be achieved by the constitution of large reserves of Yuan on the Asian territory. Knowledge ofChinese economic policy and relations with emerging economies is essential, since 2010 shows the economicpower of this nation, the largest trading power in the world, which has led the economists to study China'seconomic situation. We used for this study, data extracted from UNCTAD and ASEAN’s reports from 2010,plus various U.S. studies on China's geostrategic position. China’s geostrategic position is an important one,especially compared with the other BRIC countries, making energy investments in the Middle East, strategythat was adopted also by India and Russia; so Russia and China created ESPO project, Eastern Siberia -Pacific - Ocean, through which China is making huge investments in energy and Russia is trying to stand outfor European markets. Through this paper, we tried to evidence China’s financial and trade relations withUSA, European Union and emerging economies, in the context of a severe
Boffa, Federico; Pingali, Viswanath; Sala, Francesca
In this paper we look at the relative merits of two capacity utilization regimes in the merchant electricity transmission network: Must offer (Mo) where the entire capacity installed has to be made available for transmission and Non Must Offer (NMo) where some capacity could be withheld. We look at two specific cases: (i) demand for transmission varies across time, and (ii) vertical integration is allowed between investors in transmission network and electricity generators. In the case of time-varying demand under Mo, we find that a monopolist may underinvest in transmission when compared to NMo, although NMo may lead to more capacity withholding. In the case of vertical integration, we find that when the market power is with the generators of the exporting node, without vertical integration no welfare-enhancing merchant investment would occur, neither under Mo nor NMo. Further, if the generators in the importing node have market power, in case vertical integration is allowed, Mo is better than NMo. Finally, we also argue that the incentive to collude among various transmission network investors is mitigated with Mo in place. -- Highlights: •We model merits of Must offer (Mo) versus non-Must offer (NMo) regimes. •With fluctuating demand, NMo in general may generate more investment in capacity. •At the same time it may reduce capacity utilization. •With market power in the inefficient generating node, Mo is welfare-enhancing. •Collusion is mitigated with 'must offer' regime in place
Gravett, Michael G; Rubens, Craig E
Preterm birth and stillbirth are among the greatest health burdens associated with pregnancy and childbirth. Fifteen million babies are born preterm each year, causing about 1 million deaths annually and lifelong problems for many survivors; 3 million stillbirths also occur annually. Worldwide, the number of women and children who die during pregnancy and childbirth exceeds the total number of births in the United States. New approaches could provide a greater understanding of prematurity, stillbirth, and maternal complications of pregnancy and childbirth. Integrated multidisciplinary investigations of the mother, fetus, and newborn in different contexts and populations could elucidate the biological pathways that result in adverse outcomes and how to prevent them. Descriptive research can determine the burden of disease, while more mechanistic discovery research could explore the physiology and pathophysiology of pregnancy and childbirth. Together, this research can lead to the development and delivery of new and much more effective interventions, even in low-resource settings. Recent surveys of researchers and funders reveal a striking lack of consensus regarding priority areas for research and the development of interventions. While researchers enumerate unanswered questions about pregnancy and childbirth, they lack consensus on priorities. Funders are equally uncertain about research and development projects that need to be undertaken, and many are hard-pressed to support research on the complex problems of pregnancy and childbirth given competing priorities. This lack of consensus provides an opportunity to engage with funders and researchers to recognize the importance of understanding healthy pregnancies and the consequences of adverse pregnancy outcomes. A strategic alliance of funders, researchers, nongovernmental organizations, the private sector, and others could organize a set of grand challenges centered on pregnancy and childbirth that could yield a
Karsten, J. L.; Patino, L. C.; Rom, E. L.; Weiler, C. S.
(PIRE) programs, and the new Climate Change Education Partnership (CCEP) program. Many broader impact activities associated with individual research grants supported by GEO contribute to the mix, through integration of research and education. Improving access to high quality geoscience education, developing educational resources and pedagogies that reflect current understandings based on cognitive research on how people learn science in formal and informal settings, cultivating a diverse talent pool for the future, and developing robust mechanisms to evaluate the quality of these various approaches and tools are challenges faced by the entire geosciences research and education community, not just NSF/GEO. In the past two years, GEO has worked collaboratively with the Education and Human Resources (EHR) Directorate, and sister agencies NOAA and NASA, to establish a new GEO Education and Diversity Strategic Framework, that will guide our investments in the future, and identify opportunities for a more cohesive, collaborative, and synergistic approach across NSF and the federal government. Details of this new strategic framework, results of recent program evaluations, and their implications for future NSF/GEO education program funding will be discussed.
Kamal, F.; Englis-Danskin, Paula
Research on foreign direct investment is a rich vein of inquiry in international business and management literature. Scholars explore various aspects of FDI including the reasons for location selection. Chen and Yeh's research is in that tradition. Under the title of “Re-examining location
Yuregir, Oya H.; Sagiroglu, Cagri
Energy supply together with the data management is one of the key challenges of our century. Specifically, to decrease the climate change effects as energy requirement increases day by day poses a serious dilemma. It can be adequately reconciled with innovative data management in (renewable) energy technologies. The new environmental-friendly planning methods and investments that are discussed by researchers, governments, NGOs, and companies will give the basic and most important variables in...
Bohnert, Alexander; Gatzert, Nadine; Jørgensen, Peter Løchte
The aim of this paper is to analyze the impact of management’s strategic choice of asset and liability composition in life insurance on shortfall risk and the shareholders’ fair risk charge. In contrast to previous work, we focus on the effectiveness of management decisions regarding the product...... mix and the riskiness of the asset side under different surplus appropriation schemes. We propose a model setting that comprises temporary life annuities and endowment insurance contracts. Our numerical results show that the effectiveness of management decisions in regard to risk reduction strongly...
Ter Horst, J.R.; Veld, C.H.
Since 1998, large investment banks have flooded the European capital markets with issues of call warrants.This has led to a unique situation in the Netherlands, where now call warrants, traded on the stock exchange, and long-term call options, traded on the options exchange, exist.Both entitle their
Kulatilaka, N.; Perotti, E.C.
We provide a strategic rationale for growth options under uncertainty and imperfect corn-petition. In a market with strategic competition, investment confers a greater capability to take advantage of future growth opportunities. This strategic advantage leads to the capture of a greater share of the
Oya H. Yuregir
Full Text Available Energy supply together with the data management is one of the key challenges of our century. Specifically, to decrease the climate change effects as energy requirement increases day by day poses a serious dilemma. It can be adequately reconciled with innovative data management in (renewable energy technologies. The new environmental-friendly planning methods and investments that are discussed by researchers, governments, NGOs, and companies will give the basic and most important variables in shaping the future. We use modern data mining methods (SOM and K-Means and official governmental statistics for clustering cities according to their consumption similarities, the level of welfare, and growth rate and compare them with their potential of renewable resources with the help of Rapid Miner 5.1 and MATLAB software. The data mining was chosen to make the possible secret relations visible within the variables that can be unpredictable at first sight. Here, we aim to see the success level of the chosen algorithms in validation process simultaneously with the utilized software. Additionally, we aim to improve innovative approach for decision-makers and stakeholders about which renewable resource is the most suitable for an exact region by taking care of different variables at the same time.
Helitzer, Deborah L; Newbill, Sharon L; Cardinali, Gina; Morahan, Page S; Chang, Shine; Magrane, Diane
Academic medicine has initiated changes in policy, practice, and programs over the past several decades to address persistent gender disparity and other issues pertinent to its sociocultural context. Three career development programs were implemented to prepare women faculty to succeed in academic medicine: two sponsored by the Association of American Medical Colleges, which began a professional development program for early career women faculty in 1988. By 1995, it had evolved into two programs one for early career women and another for mid-career women. By 2012, more than 4000 women faculty from medical schools across the U.S and Canada had participated in these intensive 3-day programs. The third national program, the Hedwig van Ameringen Executive Leadership in Academic Medicine(®) (ELAM) program for women, was developed in 1995 at the Drexel University College of Medicine. Narratives from telephone interviews representing reflections on 78 career development seminars between 1988 and 2010 describe the dynamic relationships between individual, institutional, and sociocultural influences on participants' career advancement. The narratives illuminate the pathway from participating in a career development program to self-defined success in academic medicine in revealing a host of influences that promoted and/or hindered program attendance and participants' ability to benefit after the program in both individual and institutional systems. The context for understanding the importance of these career development programs to women's advancement is nestled in the sociocultural environment, which includes both the gender-related influences and the current status of institutional practices that support women faculty. The findings contribute to the growing evidence that career development programs, concurrent with strategic, intentional support of institutional leaders, are necessary to achieve gender equity and diversity inclusion.
Ledenyov, Dimitri O.; Ledenyov, Viktor O.
Investment in Capital Markets creates a strategic vision on the financial capital investment in the capital markets with the aim to get an increased return premium in the short and long time periods. The book is written with a main goal to explain the pros and cons of the financial capital investment in the capital markets, discussing the sophisticated investment concepts and techniques in the simple understandable readable general format language. We would like to highlight the three interes...
Griswold, John S.; Jarvis, William F.
Successful investing for long-term funds requires a strategic plan. This is true despite--indeed, because of--the fact that the future is unknowable. The plan must be specific, embodying in concrete terms the best thinking of the board of trustees about the investment pool, its goals and purposes; but it also needs to be sufficiently flexible to…
Reeve, J R
A large, Midwestern IDS undertook a strategic facility-planning process to evaluate its facility portfolio and determine how best to allocate future investments in facility development. The IDS assembled a facility-planning team, which initiated the planning process with a market analysis to determine future market demands and identify service areas that warranted facility expansion. The team then analyzed each of the IDS's facilities from the perspective of uniform capacity measurements, highest and best use compared with needs, building condition and investment-worthiness, and facility growth and site development opportunities. Based on results of the analysis, the strategy adopted entailed, in part, shifting some space from inpatient care to ambulatory care services and demolishing and replacing the 11 percent of facilities deemed to be in the worst condition.
Pollitt, David, Ed.
Contains precis of 18 articles on strategic management issues, including management development, on-the-job training, corporate scholarship, educational technology, coaching, investing in intellectual capital, and knowledge management. (SK)
Full Text Available Changes in today's business environment require companies to orient to strategic marketing. The company accepting strategic marketing has a proactive approach and focus on continuous review and reappraisal of existing and seeking new strategic business areas. Difficulties in achieving target profit and growth require turning marketing from the dominant viewpoint of the tangible product to creating superior value and developing relationships with customers. Value orientation implies gaining competitive advantage through continuous research and understanding of what value represents to the consumers and discovering new ways to meet their required values. Strategic marketing investment requires that the investment in the creation of values should be regularly reviewed in order to ensure a focus on customers with high profit potential and environmental value. This increases customer satisfaction and retention and long-term return on investment of companies.
1. WARRANTS CONCERNING THE. VICTORIA CROSS (1920). In order to get a picture of the Royal Warrants promulgated from 1856 to 1920 in respect of the .... to confirmation by us. Eighthly. - It is ordained, where such an act shall not have been performed in the sight of a commanding officer as aforesaid, then the ...
... 19 Customs Duties 2 2010-04-01 2010-04-01 false Authority to procure warrants. 162.11 Section 162.11 Customs Duties U.S. CUSTOMS AND BORDER PROTECTION, DEPARTMENT OF HOMELAND SECURITY; DEPARTMENT OF THE TREASURY (CONTINUED) INSPECTION, SEARCH, AND SEIZURE Search Warrants § 162.11 Authority to procure...
...] American Century Strategic Asset Allocations, Inc., et al.; Notice of Application December 13, 2011. AGENCY... Century Strategic Asset Allocations, Inc. (``ACSAA''), American Century Investment Management, Inc... with its investment objectives, policies, strategies and limitations, in financial instruments that may...
Shanghai Vacancies from Chinajob.com China Pacific Insurance (Group) Co. Ltd. Senior Investment Manager and Senior Accounting Analyst are needed, full time; annual salary: $50,000-100,000. China Europe International Business School wants professors or people with doctoral degrees to teach Accounting, Finance, Human Resources and Management, Strategic and General Management, Carving out Management, Production and Transportation Management, and Information Management Systems, full time. Salary starts at $1...
LYTNEVA N.A.; GONCHAROV P.V.; KYSHTYMOVA E.A.
In this article reveals the relevance of research to improve the system of strategic planning of innovation and investment activity in the agricultural enterprise, types of planning innovative-investment activity of agrarian enterprises, software-oriented model of strategic planning of innovation and investment activities of AIC, the evaluation criteria of innovation and investment activity of agricultural enterprises.
Andersen, Torben Juul
This article provides an overview of theoretical contributions that have influenced the discourse around strategic adaptation including contingency perspectives, strategic fit reasoning, decision structure, information processing, corporate entrepreneurship, and strategy process. The related...... concepts of strategic renewal, dynamic managerial capabilities, dynamic capabilities, and strategic response capabilities are discussed and contextualized against strategic responsiveness. The insights derived from this article are used to outline the contours of a dynamic process of strategic adaptation....... This model incorporates elements of central strategizing, autonomous entrepreneurial behavior, interactive information processing, and open communication systems that enhance the organization's ability to observe exogenous changes and respond effectively to them....
John C. Wingard, Jr.
Full Text Available In das paper 1 consider the reliability condition in Alvin Platinga’s proper functionalist account of epistemic warrant I begin by reviewing m some detail the features of the reliability condition as Platinga has articulated a From there, 1 consider what is needed to ground or secure the sort of reliability which Plantinga has m mind, and argue that what is needed is a significant causal condition which has generally been overlooked Then, after identifying eight versions of the relevant sort of reliability, I exam me each alternative as to whether as requirement, along with Platinga’s other proposed conditions, would give us a satisfactory account of epistemic warrant I conclude that there is bale to no hope of formulating a reliability condition that would yield a satisfactory analysts of the sort Plantinga desires
Investors are a heterogeneous group, they may be large or small, rich or poor, expert or lay man and not all investors need equal degree of protection (Mayya, 1996). An investor has three objectives while investing his money, namely safety of invested money, liquidity position of invested money and return on investment. The return on investment may further be divided into capital gain and the rate of return on investment as interest or dividend. Among all investment options available, securities are considered the most challenging as well as rewarding. Securities include shares, debentures, derivatives, units of mutual funds, Government securities etc. An investor may be an individual or corporate legal entity investing funds with a view to derive maximum economic advantage from investment such as rate of return, capital appreciation, marketability, tax advantage and convenience of investment.The Capital market facilitates mobilization of savings of individuals and pools them into reservoir of capital which can be used for the economic development of a country. An efficient capital market is essential for raising capital by the corporate sector of the economy and for the protection of the interest of investors in corporate securities. There arises a need to strike a balance between raising of capital for economic development on one side and protection of investors on the other. Unless the interests of investors are protected, raising of capital, by corporates is not possible. Like, the primary objective of a senior citizenís asset allocation is the generation of regular income.
Deneffe, Daniel; Wakker, Peter
textabstractEstablished firms can diversify into new markets in two distinct modes: through internal development or through conglomerate merger. Building on a dynamic three-stage bargaining model with variable threats, this paper shows that a lenient antitrust position toward horizontal mergers can induce established firms that would otherwise not have entered to enter via conglomerate merger. The vigor of antitrust enforcement toward horizontal mergers also affects the conglomerate acquisiti...
D. Deneffe (Daniel); P.P. Wakker (Peter)
textabstractEstablished firms can diversify into new markets in two distinct modes: through internal development or through conglomerate merger. Building on a dynamic three-stage bargaining model with variable threats, this paper shows that a lenient antitrust position toward horizontal mergers can
Caudle, Sharon L.
Discusses six fundamental information resources management (IRM) practices in successful organizations that can improve government service delivery performance. Highlights include directing changes, integrating IRM decision making into a strategic management process, performance management, maintaining an investment philosophy, using business…
Full Text Available Abstract Inborn errors of metabolism (IEMs are known for their low prevalence and multidisciplinary care mostly founded on expert opinion. Clinical pathways are multidisciplinary tools to organise care which provide a clear route to the best care and improve communication. In 2010 the Dutch Society for Children and Adults with an Inborn Error of Metabolism (VKS initiated development of clinical pathways for inborn errors of metabolism. In this letter to the editor we describe why it is warranted to develop clinical pathways for IEMs and shortly discuss the process of development for these pathways in the Netherlands.
Klein, Peter G.; Barney, Jay B.; Foss, Nicolai Juul
Strategic entrepreneurship is a newly recognized field that draws, not surprisingly, from the fields of strategic management and entrepreneurship. The field emerged officially with the 2001 special issue of the Strategic Management Journal on “strategic entrepreneurship”; the first dedicated...... periodical, the Strategic Entrepreneurship Journal, appeared in 2007. Strategic entrepreneurship is built around two core ideas. (1) Strategy formulation and execution involves attributes that are fundamentally entrepreneurial, such as alertness, creativity, and judgment, and entrepreneurs try to create...... and capture value through resource acquisition and competitive posi-tioning. (2) Opportunity-seeking and advantage-seeking—the former the central subject of the entrepreneurship field, the latter the central subject of the strategic management field—are pro-cesses that should be considered jointly. This entry...
The WOC 9 workshop of the CMG 2000 world gas congress was devoted to gas projects and economics. One round table chaired by G. Bouchard (Gaz de France) and T.H. Thorn (Enron) was devoted to the commercial and financial challenges the gas industry will have to face in the context of inter-region markets and investments. This article summarizes the discussion that took place during this round table: towards a progressive un-partitioning of regional markets, the strategic changes in the European gas market, the LNG industry: new actors and new markets, the gas producers at the crossroads. (J.S.)
Buhler, Carl; Burke, Adrian; Davis, Kirk; Gerhard, Michelle; Heil, Valerie; Hulse, Richard; Kwong, Ralph; Mahoney, Michael; Moran, Scott; Peek, Michael
Some materials possess greater value than others. Materials that provide essential support for the nation's economic viability or enable critical military capabilities warrant special attention in security studies...
Campbell, Sheila; Tawil, Natalie
The federal government pays for a wide range of goods and services that are expected to be useful some years in the future. Those purchases, called investment, fall into three categories: physical capital, research and development (R&D), and education and training. There are several economic rationales for federal investment. It can provide…
Gulbrandsen, Ib Tunby; Just, Sine Nørholm
beyond, but not past instrumental, rational plans in order to become better able to understand and manage the concrete, incremental practices and contexts in which communication becomes strategic. Thus, we argue that although strategic communicators do (and should) make plans, a plan in itself does...... of the specific communicative disciplines and practices employed by the organization and/or its individual members, be they marketing, public relations, corporate communication, branding, public affairs or social advocacy. In all cases, strategic communicators do well to focus more on the process of communicating...... for understanding and managing strategic communication processes....
Knudsen, Gry Høngsmark; Lemmergaard, Jeanette
This paper contributes to critical voices on the issue of strategic communication. It does so by exploring how an organisation can seize the moment of serendipity based on careful preparation of its issues management and communication channels. The focus of the study is the media coverage......-of-the-art knowledge and in-depth understanding of the affordances of different communication channels, we discuss the importance of establishing opportunities for serendipity in strategic communication planning. The contribution of the paper is to develop the concept of strategic serendipity and show how...
Hirth, Stefan; Flor, Christian Riis
Intuition suggests that corporate investment should be decreasing in financing constraints. We show that even when financing is obtained using a standard debt contract and there is symmetric information between the firm and outside investors, the relation is actually U-shaped. We thus provide a new...... theoretical explanation for the recent empirical findings of Cleary et al. (2007). We split up the endogenously implied financing costs and propose a trade-off between expected liquidation costs and second-best investment costs. For rather unconstrained firms, the risk of costly liquidation dominates the cost...
Alexander, Kelly; Cole, Heather; Cural, Ahmet; Daugherty, Darryl; Howard, Russell; Keane, Thomas; Louie, K. Y; McNeely, Rosa; Mordente, Patrick; Petrillo, Robert
...; but rather, as an enabler across all industries. Therefore, this industry study looked at Strategic Supply as an integrated process performed by industries to obtain comparative and competitive advantage in the global marketplace...
Duus, Henrik Johannsen
Purpose: The purpose of this article is to present an overview of the area of strategic forecasting and its research directions and to put forward some ideas for improving management decisions. Design/methodology/approach: This article is conceptual but also informed by the author’s long contact...... and collaboration with various business firms. It starts by presenting an overview of the area and argues that the area is as much a way of thinking as a toolbox of theories and methodologies. It then spells out a number of research directions and ideas for management. Findings: Strategic forecasting is seen...... as a rebirth of long range planning, albeit with new methods and theories. Firms should make the building of strategic forecasting capability a priority. Research limitations/implications: The article subdivides strategic forecasting into three research avenues and suggests avenues for further research efforts...
Pedersen, Carsten; Juul Andersen, Torben
decision making is often conceived as ‘standing on the two feet’ of deliberate or intended strategic decisions by top management and emergent strategic decisions pursued by lower-level managers and employees. In this view, the paper proposes that bottom-up initiatives have a hard time surfacing...... in hierarchical organizations and that lowerlevel managers and employees, therefore, pursue various strategies to bypass the official strategy processes to act on emerging strategic issues and adapt to changing environmental conditions.......The analysis of major resource committing decisions is central focus in the strategy field, but despite decades of rich conceptual and empirical research we still seem distant from a level of understanding that can guide corporate practices under dynamic and unpredictable conditions. Strategic...
Mansor, Nur Jariah; Jaffar, Maheran Mohd
Call warrant is a type of structured warrant in Bursa Malaysia. It gives the holder the right to buy the underlying share at a specified price within a limited period of time. The issuer of the structured warrants usually uses European style to exercise the call warrant on the maturity date. Warrant is very similar to an option. Usually, practitioners of the financial field use Black-Scholes model to value the option. The Black-Scholes equation is hard to solve analytically. Therefore the finite difference approach is applied to approximate the value of the call warrant prices. The central in time and central in space scheme is produced to approximate the value of the call warrant prices. It allows the warrant holder to forecast the value of the call warrant prices before the expiry date.
Hansen, Anne Mette
adopted an alternative view in which IS strategy represents a shared understanding of the role of IS within the organization. The assumption in these studies is that IS and business leaders constantly negotiate their understandings of the role of IS and strategic objectives as a basis for investment...... to the IS strategy literature by providing a detailed and rich description of IS and business leaders’ learning during IS strategizing. Second, it informs organizational learning theory by providing fundamental new insights to the 4I framework, extending our knowledge of its core constructs and revealing a potential...
The Washington State Department of Transportation (WSDOT) commissioned the current study, targeting the entire interstate : mainline network in Washington State, to provide strategic direction to multi-biennial investment interstate locations that of...
Christensen, Lars Thøger; Morsing, Mette; Thyssen, Ole
are often encouraged by social norms, regulations, and institutions—for example, institutionalized standards for corporate social responsibility (CSR) reporting—they live through local articulations and enactments that allow organizations to discover who they are and who they might become. Strategic......Strategic aspirations are public announcements designed to inspire, motivate, and create expectations about the future. Vision statements or value declarations are examples of such talk, through which organizations announce their ideal selves and declare what they (intend to) do. While aspirations...... aspirations, in other words, have exploratory and inspirational potential—two features that are highly essential in complex areas such as sustainability and CSR. This entry takes a communicative focus on strategic aspirations, highlighting the value of aspirational talk, understood as ideals and intentions...
Sørensen, Hans Eibe; Stieglitz, Nils
This paper extends the strategic management literature on how firms' sunk cost investments and market orientation mutually shapes firm performance. Using data from 314 manufacturing firms, we decompose firms' sunk cost investments into industry-specific resources and firm-specific resources...... and investigate their effect on firm performance. Our results suggest that the salient components of a firm's market orientation - i.e. customer orientation and competitor orientation - have different effects on firms' performance as well as moderate the relationship between a firm's sunk cost investments and its...
Clark, Ann B.
Business and industry leaders do not flinch at the idea of placing top talent in struggling departments and divisions. This is not always the case in public education. The Charlotte-Mecklenburg Schools made a bold statement to its community in its strategic plan by identifying two key reform levers--(1) an effective principal leading each school;…
van Damme, E.E.C.
An outcome in a noncooperative game is said to be self-enforcing, or a strategic equilibrium, if, whenever it is recommended to the players, no player has an incentive to deviate from it.This paper gives an overview of the concepts that have been proposed as formalizations of this requirement and of
Gjerding, Allan Næs
The present paper examines the aspect of relational assets and relates it to the strategic decision on undertaking foreign direct investment (FDI). The point of departure is the increasing importance of FDI globally as well as in the Danish economy, and the observation that even though Denmark...
Full Text Available This paper studies possible complementarities and substitution effects between such strategic choices as alliances, acquisitions and internal R&D investments. The findings indicate that a firm’s absorptive capacity affects the presence of complementarities and substitution effects among those strategic choices. Firms with high absorptive capacity exhibit substitution effects between alliances and acquisitions and between alliances and internal R&D investments. Firms with high absorptive capacity also exhibit complementarities between acquisitions and additional R&D investments. These results were obtained from panel data of large and medium U.S. companies spanning the years 1998-2009. The results are robust to the use of different measures of performance: profitability, market-to-book value, and sales growth. This paper contributes to our understanding of the role of absorptive capacity for the optimal choice of inter-organizational strategy vs. greater internal R&D investments.
Aziz, Khairu Azlan Abd; Idris, Mohd Fazril Izhar Mohd; Saian, Rizauddin; Daud, Wan Suhana Wan
This project discusses about pricing warrant in Malaysia. The Black Scholes model with non-dividend approach and linear interpolation technique was applied in pricing the call warrant. Three call warrants that are listed in Bursa Malaysia were selected randomly from UiTM's datastream. The finding claims that the volatility for each call warrants are different to each other. We have used the historical volatility which will describes the price movement by which an underlying share is expected to fluctuate within a period. The Black Scholes model price that was obtained by the model will be compared with the actual market price. Mispricing the call warrants will contribute to under or over valuation price. Other variables like interest rate, time to maturity date, exercise price and underlying stock price are involves in pricing call warrants as well as measuring the moneyness of call warrants.
Briere, Marie; Burgues, Alexandre; Signori, Ombretta
This paper examines the advantages of incorporating strategic exposure to equity volatility into the investment-opportunity set of a long-term equity investor. We consider two standard volatility investments: implied volatility and volatility risk premium strategies. To calibrate and assess the risk/return profile of the portfolio, we present an analytical framework offering pragmatic solutions for long-term investors seeking exposure to volatility. The benefit of volatility exposure for a co...
Tambakis, Demosthenes N
How does the uncertain provision of external finance affect investment projects' default probability and liquidity risk? In this paper, I study the strategic interaction between many creditors and a single borrower in the context of a two-period investment project requiring external credit. Loans mature in one period but the project requires two periods to complete. The key working assumptions are that creditors are risk-averse and that any uncertainty is common knowledge: information about ...
leaders as Sears, Limited Brands, DHL, Circuit City, Cingular, Nestle and IKEA (Manugistics, 2006). The Strategic Supply Chain Industry Study Group...inventory turns have increased. Other global customers have also reaped the benefits of the Manugistics software. IKEA , Sweden’s retail icon...turned to Manugistics after a mid-1990s ERP implementation failed to fix their forecasting problems, which gave way to fluctuating inventory levels. IKEA
Throughout the world, we can observe visible complexities, ambiguities and activities of continuously overlapping strategic pursuits of different interest groups. Seen this way, the materialities of parking systems can stage and determine contemporary mobilities in two ways: through decisions taken...... “from above” – design and planning regulations, and “from below” by humans who choose modes of transport, ways of interacting and time of travel. These entanglements of technology and culture are manifested in parking infrastructures....
Rios, Jr., Cesar G; Housel, Thomas; Mun, Johnathan
...) on individual projects, programs, and processes within a portfolio of IT investments. Using KVA historical data as a platform, the authors evaluate potential strategic investments with real options analysis...
Lydon, Reamonn; Scally, John
This article examines trends in business investment in Ireland. Consistent with the international evidence on investment cycles, we show that business investment in Ireland exhibits large cyclical movements around a long-run trend relative to GDP. Changes in business investment broadly coincide with the overall business cycle, although swings in investment tend to be far greater, with extended periods of both over- and under-investment relative to GDP. The sharp fall in business investment si...
Ernstsen, Rune Ramsdal; Misir, Nihat
while incurring lower investment costs. We additionally find that highly convex investment cost greatly diminishes the impact of market power on the investment decisions. Furthermore, for both the strategic firm and the social planner, fixed baseload generation is preferable during low installed...... approach to evaluate the investment decisions. In our paper we do not only focus on the differences in costs for different technologies but also on the differences in operation of those technologies and how those differences impact the optimal investment decisions. In our model, the one-time investment...... decision requires the determination of demand shock trigger level, choice of technology and level of optimal capacity. We specifically investigate how the investment triggers, optimal capacities and technology choices change with the changes to the investment cost function, demand uncertainty and the level...
Full Text Available Strategic Human Resources Management (SHRM represents an important and sensitive aspect of the functioning and development of a company, business, institution, state, public or private agency of a country. SHRM is based on a point of view of the psychological practices, especially by investing on empowerment, broad training and teamwork. This way it remains the primary resource to maintain stability and competitiveness. SHRM has lately evolved on fast and secure steps, and the transformation from Management of Human Resources to SHRM is becoming popular, but it still remains impossible to exactly estimate how much SHRM has taken place in updating the practices of HRM in organizations and institutions in general. This manuscript aims to make a reflection on strategic management, influence factors in its practices on some organizations. Researchers aim to identify influential factors that play key roles in SHRM, to determine its challenges and priorities which lay ahead, in order to select the most appropriate model for achieving a desirable performance. SHRM is a key factor in the achievement of the objectives of the organization, based on HR through continuous performance growth, it’s a complex process, unpredictable and influenced by many outside and inside factors, which aims to find the shortest way to achieve strategic competitive advantages, by creating structure planning, organizing, thinking values, culture, communication, perspectives and image of the organization. While traditional management of HR is focused on the individual performance of employees, the scientific one is based on the organizational performance, the role of the HRM system as main factor on solving business issues and achievement of competitive advantage within its kind.
Nahuis, R.; Tang, P.J.G.
Governments try to attract firms and jobs by investing in international infrastructure. We analyse this type of strategic policy competition in a three-country model of monopolistic competition. What governments compete for, is to obtain a so called ‘hub’ position. A hub is a relatively well
Pawlina, G.; Kort, P.M.
We consider a firm's decision to replace an existing production technology with a new, more cost-efficient one.Kulatilaka and Perotti [1998, Management Science] nd that, in a two-period model, increased product market uncertainty could encourage the firm to invest strategically in the new
Knowledge. Innovation. Solutions. IDRC's strategic plan, Investing in Solutions, will guide our efforts from 2015 to 2020. Building on more than four decades of experience, the plan reaffirms our vision to produce knowledge, support innovation, and generate solutions to improve lives and livelihoods in the developing world.
I study the incentives of oligopolists to acquire and disclose information on a common demand intercept. Because firms may fail to acquire information even when they invest in information acquisition, firms can credibly conceal unfavorable news while disclosing favorable news. Firms may earn high...... Cournot duopolists prefer strategic disclosure, if their goods are sufficiently differentiated....
Risberg, Annette; King, David R.; Meglio, Olimpia
We examine the importance of speed and timing in acquisitions with a framework that identifies management considerations for three interrelated acquisition phases (selection, deal closure and integration) from an acquiring firm’s perspective. Using a process perspective, we pinpoint items within ...... acquisition phases that relate to speed. In particular, we present the idea of time-bounded strategic windows in acquisitions consistent with the notion of kairòs, where opportunities appear and must be pursued at the right time for success to occur....
Full Text Available Leadership as a concept has been very useful in the last decades, but when it comes to definingand especially to applying strategic leadership theories into the day-to-day life of organizations,things become much more complicated. It is imperative that managers select their basic theoreticalneed in order to assess one organizations leadership. The following article aims to prove that it isnecessary to choose more than one theoretical instrument before applying them into a specificplan, which combines more than one theoretical approach for evaluating and improving strategicleadership into an organization.
The Sage Course Companion on Strategic Management is an accessible introduction to the subject that avoids lengthy debate in order to focus on the core concepts. It will help the reader to develop their understanding of the key theories, whilst enabling them to bring diverse topics together in line with course requirements. The Sage Course Companion also provides advice on getting the most from your course work; help with analysing case studies and tips on how to prepare for examinations. Designed to compliment existing strategy textbooks, the Companion provides: -Quick and easy access to the
This is the second of a series of briefings which discuss the sustainable development issues raised by legal arrangements for the protection of foreign investment. The briefings are based on legal research by IIED and its partners. The goal is to provide accessible but accurate information for human rights, development and environmental organisations working on issues raised by foreign investment in low- and middle-income countries. Briefing 2 explains how investment treaties between states work to protect and promote foreign investment.
Four topic areas are considered: (1) The global context for energy investments, (2) Strategic investments in the gas chain, (3) Conventional and changing approaches to investing in gas and power, (4) New areas of opportunity. The presentation considers the challenging global context for investments and the current oil price outlook and more specifically the backdrop to the growth in demand for gas and its increasing availability and the implications of factors such as energy market liberalization. It notes the regional nature of gas and power markets and considers the issue of stranded supply and demand. It identifies an increasing trend towards investments up and down the gas chain by both traditional and new players and explores BP Amoco's own corporate response. The presentation then briefly reviews four major gas investments which BP Amoco has either already taken or is considering. It then discusses investments in gas to power and the growing environmental agenda, which is bringing a range of new and non-traditional investment opportunities
Four topic areas are considered: (1) The global context for energy investments, (2) Strategic investments in the gas chain, (3) Conventional and changing approaches to investing in gas and power, (4) New areas of opportunity. The presentation considers the challenging global context for investments and the current oil price outlook and more specifically the backdrop to the growth in demand for gas and its increasing availability and the implications of factors such as energy market liberalization. It notes the regional nature of gas and power markets and considers the issue of stranded supply and demand. It identifies an increasing trend towards investments up and down the gas chain by both traditional and new players and explores BP Amoco's own corporate response. The presentation then briefly reviews four major gas investments which BP Amoco has either already taken or is considering. It then discusses investments in gas to power and the growing environmental agenda, which is bringing a range of new and non-traditional investment opportunities.
In November 1989, the Office of Environmental Restoration and Waste Management (EM) was formed within the US Department of Energy (DOE). The EM Program was born of the recognition that a significant national effort was necessary to clean up over 45 years' worth of environmental pollution from DOE operations, including the design and manufacture of nuclear materials and weapons. Within EM, the Deputy Assistant Secretary for Environmental Restoration (EM-40) has been assigned responsibility for the assessment and cleanup of areas and facilities that are no longer a part of active DOE operations, but may be contaminated with varying levels and quantifies of hazardous, radioactive, and n-mixed waste. Decontamination and decommissioning (D ampersand D) activities are managed as an integral part of Envirorunental Restoration cleanup efforts. The Office of Environmental Restoration ensures that risks to the environment and to human health and safety are either eliminated or reduced to prescribed, acceptable levels. This Strategic Plan has been developed to articulate the vision of the Deputy Assistant Secretary for Environmental Restoration and to crystallize the specific objectives of the Environmental Restoration Program. The document summarizes the key planning assumptions that guide or constrain the strategic planning effort, outlines the Environmental Restoration Program's specific objectives, and identifies barriers that could limit the Program's success
In the case Wolzenburg, the principle of non-discrimination of European Union citizens is applied to the European arrest warrant. The implementation of the European arrest warrant by the Member States cannot escape a control of proportional- ity made by the Court. Member States may impose a period
... 8 Aliens and Nationality 1 2010-01-01 2010-01-01 false Disposition of cases of aliens arrested without warrant. 287.3 Section 287.3 Aliens and Nationality DEPARTMENT OF HOMELAND SECURITY IMMIGRATION REGULATIONS FIELD OFFICERS; POWERS AND DUTIES § 287.3 Disposition of cases of aliens arrested without warrant...
... 8 Aliens and Nationality 1 2010-01-01 2010-01-01 false Criminal search warrant and firearms policies. 287.9 Section 287.9 Aliens and Nationality DEPARTMENT OF HOMELAND SECURITY IMMIGRATION REGULATIONS FIELD OFFICERS; POWERS AND DUTIES § 287.9 Criminal search warrant and firearms policies. (a) A...
... or foreign direct investment as a priority area in seeking future grants should explain how they... locally-created, comprehensive blueprints that strategically direct investments in development and... undercapitalized Lower Mississippi Delta Region. Specifically, it will provide direct investment and technical...
Townsley, Michael K.
All private colleges and universities make strategic capital investments and consider the use of debt to fund those investments. From the commonplace purchase of photocopiers to the construction of new academic buildings or dormitories, investment decisions that yield long-term financial benefits must follow on the heels of careful analysis. To…
Hoi Ying Wong
Full Text Available Turbo warrants are liquidly traded financial derivative securities in over-the-counter and exchange markets in Asia and Europe. The structure of turbo warrants is similar to barrier options, but a lookback rebate will be paid if the barrier is crossed by the underlying asset price. Therefore, the turbo warrant price satisfies a partial differential equation (PDE with a boundary condition that depends on another boundary-value problem (BVP of PDE. Due to the highly complicated structure of turbo warrants, their valuation presents a challenging problem in the field of financial mathematics. This paper applies the homotopy analysis method to construct an analytic pricing formula for turbo warrants under stochastic volatility in a PDE framework.
Information and communication systems can improve the timeliness and quality of decisions. These benefits are strategically important to the utility industry in an era of increasing competition. Because these systems often do not reduce labor cost, however, they can be difficult to evaluate. This report presents a new process for reaching consensus of the value of capital investment in information and communication systems. The results of this project is A Strategic Advocacy Process (ASAP), a methodology that can be used to evaluate investments in information technology. ASAP uses belief graphs to produce a living business case showing facts, assumptions, goals, and metrics for measuring progress toward those goals; shows how to use option pricing theory to quantify the value of managerial flexibility; ASAP uses an organizational impact assessment tool to identify the potential impact of new information systems and how to realize the benefits of managerial flexibility. The ASAP methodology addresses the critical problem of correctly valuing information and communication systems. The methodology offers a way to account for the ''intangible'' value of these systems by recognizing the managerial flexibility these systems can provide in addressing risks and uncovering new business opportunities. Metrics for measuring progress toward new goals can be defined, and plans for achieving the goals can be made. As a result, agreement can be reached on the uses, value, and priority of projects based on a metric other than on labor replacement savings
Hansen, Michael W.; Hoenen, Anne K.
Purpose: The purpose of this paper is to re-visit and re-invigorate the oligopolistic industry perspective on multinational corporations (MNC) strategy. Design/methodology/approach: Based on insights from the industrial organization tradition and strategic management, the paper brings the original...... to a key insight of the early IB literature, namely, that foreign direct investment (FDI) often is driven by strategic interaction among MNCs in oligopolistic industries. Instead, the contemporary IB literature focuses on the FDI as a way to reduce transaction costs and/or as a way to leverage and build...
Thariani, Rahber; Henry, Norah Lynn; Ramsey, Scott D; Blough, David K; Barlow, Bill; Gralow, Julie R; Veenstra, David L
Breast cancer tumor markers are used by some clinicians to screen for disease recurrence risk. Since there is limited evidence of benefit, additional research may be warranted. To assess the potential value of a randomized clinical trial of breast tumor marker testing in routine follow-up of high-risk, stage II-III breast cancer survivors. We developed a decision-analytic model of tumor marker testing plus standard surveillance every 3-6 months for 5 years. The expected value of sample information was calculated using probabilistic simulations and was a function of: the probability of selecting the optimal monitoring strategy with current versus future information; the impact of choosing the nonoptimal strategy; and the size of the population affected. The value of information for a randomized clinical trial involving 9000 women was US$214 million compared with a cost of US$30-60 million to conduct such a trial. The probability of making an alternate, nonoptimal decision and choosing testing versus no testing was 32% with current versus future information from the trial. The impact of a nonoptimal decision was US$2150 and size of population impacted over 10 years was 308,000. The value of improved information on overall survival was US$105 million, quality of life US$37 million and test performance US$71 million. Conducting a randomized clinical trial of breast cancer tumor markers appears to offer a good societal return on investment. Retrospective analyses to assess test performance and evaluation of patient quality of life using tumor markers may also offer valuable areas of research. However, alternative investments may offer even better returns in investments and, as such, the trial concept deserves further study as part of an overall research-portfolio evaluation.
The words "strategic" and "planning" used together can lead to confusion unless one spent the early years of his career in never-ending, team-oriented, corporate training sessions. Doesn't "strategic" have something to do with extremely accurate bombing or a defensive missile system or Star Wars or something? Don't "strategic" and "planning" both…
This paper discusses the business strategy needed to spark investment in Ontario's power generation industry. It examines the process of decision making and investing in an uncertain environment. The paper suggests that any strategy based on one view of the future courts trouble and that strategic flexibility can prepare for what cannot be predicted. Finally the paper suggests that Ontario needs to create a stable policy and regulatory environment that allows investors to fulfill reasonable expectations and investors need to place bets that provide the flexibility to respond quickly to changing market conditions
decision making � STRATEGIC DECISION MAKING Strategic Change There are several strategic decisions that involved...The Ontology of Strategic Decision Making Strategic decisions are non-routine and involve both the art of leadership and the science of management...building consensus,”5 implicitly requires the capacity for strategic decision making� The Complexity of Strategic Decision Making Strategic
This report was based on the research project, Right-Turn Traffic Volume Adjustment in Traffic Signal Warrants, sponsored by the Nevada Department of Transportation (NDOT) and SOLARIS. Right-turn traffic does not affect intersection performance in th...
This report was based on the research project, Right-Turn Traffic Volume Adjustment in : Traffic Signal Warrants, sponsored by the Nevada Department of Transportation (NDOT) : and SOLARIS. Right-turn traffic does not affect intersection performance i...
.... This study will examine how senior leaders within the Army and specifically the Ordnance Corps must change the officer and warrant officer force structure education system and leader development...
Creativity and innovation is the new game plan inherent in strategic .... The diagram below is a simplified operational model of strategic management, ..... Bryson (1995) outlines four benefits of strategic (planning) Management in his ... champions, good strategic planning teams, enough slack to handle potentially disruptive.
Kalai, Adam; Kalai, Ehud
In joint decision making, similarly minded people may take opposite positions. Consider the example of a marriage in which one spouse gives generously to charity while the other donates nothing. Such "polarization" may misrepresent what is, in actuality, a small discrepancy in preferences. It may be that the donating spouse would like to see 10% of their combined income go to charity each year, while the apparently frugal spouse would like to see 8% donated. A simple game-theoretic analysis suggests that the spouses will end up donating 10% and 0%, respectively. By generalizing this argument to a larger class of games, we provide strategic justification for polarization in many situations such as debates, shared living accommodations, and disciplining children. In some of these examples, an arbitrarily small disagreement in preferences leads to an arbitrarily large loss in utility for all participants. Such small disagreements may also destabilize what, from game-theoretic point of view, is a very stable equilibrium. Copyright 2001 Academic Press.
Thompson, D I; Sirio, C; Holt, P
Most health care executives see outcome measurement as a technical or tactical matter rather than as a strategic tool. Accordingly, provider investment in outcome measurement and management is relatively small. Nevertheless, outcome information can be key to achieving an organization's strategic objectives. Advances in risk adjustment and improvements in technology for data collection and analysis have made outcome measurement a practical tool for individual hospital use. Strategically integrated outcome measurement efforts can give providers a competitive advantage over organizations that only use outcomes tactically. One of the best examples of an acute care provider that has used outcome information for strategic advantage is Intermountain Health Care (IHC; Salt Lake City). In 1997 IHC made clinical quality and outcomes the primary focus of its five-year strategic plan. To support the new strategy IHC's board of trustees approved the development of an outcome information system that generated data along clinical processes of care and the creation of a new management structure to use these data to hold professionals accountable and to set and achieve clinical improvement goals. From 1996 to 1999, IHC's share of the commercial health care market in Utah increased from roughly 50% to about 62% of the market, with the result that it has stopped actively marketing its services. Health care executives will not willingly invest in outcomes until they believe that they have business value. Therefore, making the business case for outcomes can help improve the quality of health care and the lives of individuals.
Taheri, S. Saeid; Kazempour, Jalal; Seyedshenava, Seyedjalal
the future generation investment actions. However, in such an oligopolistic market, each producer makes its own strategic generation investment decisions. This motivates the transmission system planner to consider the generation investment decision-making problem of all producers within its TEP model......Transmission expansion planning (TEP) is a sophisticated decision-making problem, especially in an oligopolistic electricity market in which a number of strategic (price-maker) producers compete together. A transmission system planner, who is in charge of making TEP decisions, requires considering....... This paper proposes a tri-level TEP decision-making model to be solved by the transmission system planner, whose objective is to maximize the social welfare of the market minus the expansion costs, and whose constraints are the transmission expansion limits as well as the generation investment equilibrium...
Full Text Available This article shows that it can take a long period of time until research knowledge finds its application in practice and get disseminated as innovation trend. Factor-based investing is such an example. Having its developing roots in the nineties, it took more than two decades until this approach was detected by the by investment community. The goal of this article is to recall the definition of factor investing, present its historical evolvement and motivate its recent break-through and current trend among investment practitioners (known also under the notion smart beta. It aims at familiarizing with this investment approach from a practical perspective and highlighting its diversifying benefits in a portfolio context with the potential to outperform the market on risk-adjusted basis.
The impact of geopolitics in any international oil company's investment decisions, was discussed. Geopolitics in this context was defined as all government policies, be they economic, political strategic or military, that determine national interests, which a company has to take into account in making an investment decision. Geopolitical considerations have taken on added importance with the arrival of the Cold War and its aftermath, to the point where investment decisions based on traditional parameters such as geological productivity, rates of return, net present values, fiscal and contractual provisions frequently take a back seat to investment decisions that were taken with geopolitical impacts foremost in mind. From time to time, geopolitical factors can even pre-empt corporate investment decisions. The nature of geopolitics, its historical antecedents, the emergence of international rivalries following World War I, intensified after World War II, particularly after the formation of OPEC in 1973, the changing forms of resource ownership, and the general impact of geopolitical factors on corporate investment decisions were reviewed
This Bachelor’s thesis examines an integration process of strategic planning, where an investment strategy is defined with financial planning in order to ensure long-term company success. The primary objective of the study is to determine present and emerging instruments available for a case company to finance their investments activities. The thesis consists of a theory section and an empirical section that deals with the commissioning party, a cooperative by form. The theory sectio...
We analyze the determinants of the decision to invest abroad in particular configurations of overseas plants for 120 Japanese firms active in 36 well-defined electronic product markets. We find support for a structured internationalization decision model in which the decision to produce abroad and the choice for a specific international plant configuration are treated as nested strategic options. Drivers at the industry and firm level push firms to consider overseas investment, and locational...
The fundamental problems of investment in rural education in the present developing countries are analyzed. Needs of rural education are outlined and financial considerations related to investment in the improvement of rural educational programs are discussed. (SM)
In the "Second Edition" of "Quantitative Investment Analysis," financial experts Richard DeFusco, Dennis McLeavey, Jerald Pinto, and David Runkle outline the tools and techniques needed to understand and apply quantitative methods to today's investment process.
The paper studies retail Socially Responsible Investment and portfolio allocation. It extends conventional portfolio theory by allowing for a personal value based investment decision. When preferences for responsibility enter the framework for mean-variance analysis, it yields an optimal...... responsible investment model. An example of index investing illustrates the theory. Results show that it is crucial for the responsible investor to consider portfolio risk, expected return, and responsibility simultaneously in order to obtain an optimal portfolio. The model enables responsible investors...
The purpose of this paper is to survey what is known about the investment policy of pension funds. Pension fund investment policy depends critically on the type of plan: defined contribution versus defined benefit. For defined contribution plans investment policy is not much different than it is for an individual deciding how to invest the money in an Individual Retirement Account (IRA). The guiding principle is efficient diversification, that is, achieving the maximum expected return for any...
Full Text Available This paper extends the microstructure literature, by examining the previouslyundocumented intraday trading patterns in trading volume, price volatility, order depthand relative spreads for both the warrant and option market in Australia. Comparisons ofintraday variations across these derivative securities allows for insight to be drawn intocompeting market microstructure theories and provides the opportunity to examinewhether market design differences explain variations in observed intraday patterns. Wefind that intraday trading patterns documented in the warrant and option markets can beexplained by their market designs, along with theories relating to time-varying informationasymmetry and time-varying hedging trades around nontrading periods.
This is the fourth of a series of briefings which discuss the sustainable development issues raised by legal arrangements for the protection of foreign investment. The briefings are based on legal research by IIED and its partners. The goal is to provide accessible but accurate information for human rights, development and environmental organisations working on issues raised by foreign investment in low- and middle-income countries. Briefing 4 sets out some of the ways in which foreign investment contracts can impact on sustainable development.
Backus, Ge B.C.; Timmer, G. Th.; Dijkhuizen, A.A.; Eidman, V.R.; Vos, F.
This paper reported on a decision support system (DSS) for strategic planning on pig farms. The DSS was based . on a stochastic simulation model of investment decisions (ISM). ISM described a farm with one loan and one building using 23 variables. The simulation model calculated the results of a strategic plan for an individual pig farm over a time horizon of a maximum of 20 years for a given scenario. For six distinct replacement strategies, regression metamodels were specified to describe t...
This investigation proposes to explore the existing link between a strategic conception of philanthropy and innovation. Indeed, the nature of the research question relies on an unexplored field in the CSR and Innovation management academic literature. It starts with the interest to know which the benefits are for a firm encouraged to invest strategically in philanthropy. In this regard, the analysis contributes in fitting this gap by following different objectives in an exploratory perspectiv...
Jesus was a great strategic leader who changed the world in many ways. Close study of what he did and how he did it reveals a pattern of behavior that is extremely useful and relevant to the modern strategic leader...
Larsen, Kim Guldstrand; Laursen, Simon; Srba, Jiri
We introduce the formalism of action investment energy games where we study the trade-off between investments limited by given budgets and resource constrained (energy) behavior of the underlying system. More specifically, we consider energy games extended with costs of enabling actions and fixed...... budgets for each player. We ask the question whether for any Player 2 investment there exists a Player 1 investment such that Player 1 wins the resulting energy game. We study the action investment energy game for energy intervals with both upper and lower bounds, and with a lower bound only, and give...
Johnson, B.K.; Vang, M.H.; van der Heide, B.
Consumers using online auction websites face the challenge of appraising products at a distance. Sellers and buyers in online auctions navigate this challenge by displaying and evaluating various cues, a critical one being use of photographs. Warranting theory predicts that cues less subject to
Introduction to Strategic Information SecurityWhat Does It Mean to Be Strategic? Information Security Defined The Security Professional's View of Information Security The Business View of Information SecurityChanges Affecting Business and Risk Management Strategic Security Strategic Security or Security Strategy?Monitoring and MeasurementMoving Forward ORGANIZATIONAL ISSUESThe Life Cycles of Security ManagersIntroductionThe Information Security Manager's Responsibilities The Evolution of Data Security to Information SecurityThe Repository Concept Changing Job Requirements Business Life Cycles
Numerous institutions are now engaged in Socially Responsible Investment or have signed the "UN Principles for Responsible Investment". Retail investors, however, are still lacking behind. This is peculiar since the sector constitutes key stakeholders in environmental, social and governmental...... standards. This paper considers optimal responsible investment for a small retail investor. It extends conventional portfolio theory by allowing for a personal-value based investment decision. Preferences for responsibility are defined in the framework of mean-variance analysis and an optimal responsible...... investment model identified. Implications of the altered investment problem are investigated when the dynamics between portfolio risk, expected return and responsibility is considered. Relying on the definition of a responsible investor, it is shown how superior investment opportunities can emerge when...
Zeuthen, Jesper Willaing
. This article studies a potential Chinese investment in mining minerals which are strategically important to China in a region that is widely argued to be of strategic importance to China. By making a content analysis of Chinese language articles on mining, and through interviews with some of those involved...
Bijmolt, Tammo H.A.; Frambach, Ruud T.; Verhallen, Theo M.M.
This article introduces the term “strategic marketing research” for the collection and analysis of data in support of strategic marketing management. In particular, strategic marketing research plays an important role in defining the market, analysis of the environment, and the formulation of
Wenning, B.D. [Texas Utilities Services, Inc., Dallas, TX (United States)
The evaluation of investments in longer term research and development in emerging technologies, because of the nature of such subjects, must address inherent uncertainties. Most notably, future cash flow forecasts include substantial uncertainties. Conventional present value methodology, when applied to emerging technologies severely penalizes cash flow forecasts, and strategic investment opportunities are at risk of being neglected. Use of options valuation methodology adapted from the financial arena has been introduced as having applicability in such technology evaluations. Indeed, characteristics of superconducting magnetic energy storage technology suggest that it is a candidate for the use of options methodology when investment decisions are being contemplated.
Wenning, B. D.
The evaluation of investments in longer term research and development in emerging technologies, because of the nature of such subjects, must address inherent uncertainties. Most notably, future cash flow forecasts include substantial uncertainties. Conventional present value methodology, when applied to emerging technologies severely penalizes cash flow forecasts, and strategic investment opportunities are at risk of being neglected. Use of options evaluation methodology adapted from the financial arena has been introduced as having applicability in such technology evaluations. Indeed, characteristics of superconducting magnetic energy storage technology suggest that it is a candidate for the use of options methodology when investment decisions are being contemplated.
The evaluation of investments in longer term research and development in emerging technologies, because of the nature of such subjects, must address inherent uncertainties. Most notably, future cash flow forecasts include substantial uncertainties. Conventional present value methodology, when applied to emerging technologies severely penalizes cash flow forecasts, and strategic investment opportunities are at risk of being neglected. Use of options valuation methodology adapted from the financial arena has been introduced as having applicability in such technology evaluations. Indeed, characteristics of superconducting magnetic energy storage technology suggest that it is a candidate for the use of options methodology when investment decisions are being contemplated
I. M. Podmolodina
Full Text Available Summary. The paper clarifies the relationship of concepts investment climate, investment attractiveness, investment activity. It has been established that investment activity is a sign of effective investment attractiveness. Investment attractiveness of the subject of the Russian Federation due to the efforts of the regional authorities in the areas of improving the investment climate in the region; improvement of legal norms for domestic and foreign investors; developing incentives for investment activity. The article substantiates the investment policy measures that should contribute to the objectives of the investment strategy through implementation of investment programs. The priorities of the investment policy in the region include the creation of clusters, the development of branches of agriculture, increase the volume of production of import-substituting products. The attractiveness of the Voronezh region due to its favorable geopolitical location, large capacity market, its personnel and scientific potential. Investment activity in the Voronezh region largely determines the special organization "Agency for Investment and Strategic Projects." Investment activity in the region is stimulated by the development of industrial parks in the territory of which the large investment projects world producers. Voronezh region has rich experience in attracting potential investors and working with them. The article discusses a set of preferences granted inve-Sided, clarity and transparency of the existing mechanism of their production, thereby increasing the investment attractiveness of the Voronezh region. Provides an overview of realized and announced for implementation of investment projects. The article notes that further increase the investment attractiveness of the Voronezh region is associated with the improvement of legal and regulatory framework; development of infrastructure for the implementation of investment projects; Formation of
Hinloopen, J.; Vandekerckhove, J.
Building on the framework developed by Qiu (1997) we investigate the influence of product market competition on incentives to invest in cooperative R&D. For that we disentangle the three components that make up the combined-profits externality. The strategic component is always negative and the size
Cherian, J.A.; Perotti, E.C.
The paper analyzes foreign investment and asset prices in a context of uncertainty over future government policy. The model endogenizes the process of learning by foreign investors facing a potentially opportunistic government, which chooses strategically the timing of a policy reversal in order to
Cherian, J.A.; Perotti, E.C.
he paper analyses foreign investment and asset prices in a context of uncertainty over future government policy. The model endogenizes the process of learning by foreign investors facing a potentially opportunistic government, which chooses strategically the timing of a policy reversal in order to
Cherian, J. A.; Perotti, E.C.
The paper analyses foreign investment and asset prices in a context of uncertainty over future government policy. The model endogenizes the process of learning by foreign investors facing a potentially opportunistic government, which chooses strategically the timing of a policy reversal in order to
The study described in this thesis focuses on the development and use of a model that simulates the consequences of long-term investment decisions in pig farming. The thesis is composed of six parts. Chapter 1 deals with a basic review of the literature on strategic planning under risk and
Olga A. Zhdanova
Full Text Available General meeting of owners of the investment shares, possessing large powersof strategic character, needs continuous development of the substantial and organizational parties, with the subsequent entering of corresponding changes into acts.In article some organizational aspects ofcarrying out general meeting and possibility of their improvement are considered.
Center for American Progress, 2011
School principals are second only to teachers among school-based factors that influence student achievement and they are critical to attracting and retaining effective teachers and other school staff. Yet in the past, federal policymakers haven't given school leadership much attention. This reauthorization of the Elementary and Secondary Education…
Defense Venture Catalyst Initiative, Welcome to Defense Venture Catalyst Initiative, undated. 10 A. McBride, Pentagon Turns to Silicon Valley for Leads...negotiating valuation and other terms, such as profit participation, stock redemption rights, board membership, and voting rights. The manager will very...to be an agile, flexible commercial firm that could work on its own terms with firms in Silicon Valley and throughout the world.”4 Since inception
It is an interesting time in the building industry; for more than one decade sustainability is a planning parameter that essentially impacts construction related processes. Reduction of operational energy was initiated after the oil crisis and changed the type of construction by including heat
Stecklein, Jonette M.
Human space exploration has always been heavily influenced by goals to achieve a specific mission on a specific schedule. This approach drove rapid technology development, the rapidity of which adds risks as well as provides a major driver for costs. The National Aeronautics and Space Administration (NASA) is now approaching the extension of human presence throughout the solar system by balancing a proactive yet less schedule-driven development of technology with opportunistic scheduling of missions as the needed technologies are realized. This approach should provide cost effective, low risk technology development that will enable efficient and effective manned spaceflight missions. As a first step, the NASA Human Spaceflight Architecture Team (HAT) has identified a suite of critical technologies needed to support future manned missions across a range of destinations, including in cislunar space, near earth asteroid visits, lunar exploration, Mars space, and Mars exploration. The challenge now is to develop a strategy and plan for technology development that efficiently enables these missions over a reasonable time period, without increasing technology development costs unnecessarily due to schedule pressure, and subsequently mitigating development and mission risks. NASA fs Johnson Space Center (JSC), as the nation's primary center for human exploration, is addressing this challenge through an innovative approach allocating Internal Research and Development funding to projects that have been prioritized using four focus criteria, with appropriate importance weighting. These four focus criteria are the Human Space Flight Technology Needs, JSC Core Technology Competencies, Commercialization Potential, and Partnership Potential. The inherent coupling in these focus criteria have been captured in a database and have provided an initial prioritization for allocation of technology development research funding. This paper will describe this process and this database, and the preliminary technology development prioritization results.
Strategic thinking focuses on issues that directly affect the ability of a family planning program to attract and retain clients. This issue of "The Family Planning Manager" outlines the five steps of strategic thinking in family planning administration: 1) define the organization's mission and strategic goals; 2) identify opportunities for improving quality, expanding access, and increasing demand; 3) evaluate each option in terms of its compatibility with the organization's goals; 4) select an option; and 5) transform strategies into action. Also included in this issue is a 20-question test designed to permit readers to assess their "strategic thinking quotient" and a list of sample questions to guide a strategic analysis.
Charaeva, Marina V.; Naumova, Olga A.; Kosyakova, Inessa V.; Denisov, Aleksandr D.
The relevance of the research: the relevance of research problem caused the necessity in organization investment policy of Russian enterprises for intensification of their strategic investment development and insufficient development of theoretical and methodological aspects in attracting financial resources for the realization of investment…
Vajarothai, Pintip; Al-Jibouri, Saad H.S.; Halman, Johannes I.M.
Organisations in public or private sector invest in projects to meet strategic objectives; to solve a problem, respond to specific needs or to realize investment opportunities. Governments, particularly in developing countries, face increasing demands of society for more and better services.
Gunawan, Nur Izzaty Ilmiah Indra; Ibrahim, Siti Nur Iqmal; Rahim, Norhuda Abdul
This paper studies the accuracy of the Black-Scholes (BS) model and the dilution-adjusted Black-Scholes (DABS) model to pricing some warrants traded in the Malaysian market. Mean Absolute Error (MAE) and Mean Absolute Percentage Error (MAPE) are used to compare the two models. Results show that the DABS model is more accurate than the BS model for the selected data.
Espinosa Martinez, Nieves; Krebs, Frederik C
in their making when compared with the single junction solar cell has to be justified and compensated by a higher efficiency. A central question to ask is how much energy you need to invest in a system in order for it to produce energy and return the investment at least once and preferably a number of times....... As an initial investigation into the potential viability of the tandem or multi-junction approach we have engaged in a detailed analysis based on the manufacturing energy for each step within the tandem module supply chain for full ambient processing of thin flexible polymer tandem solar cells prepared entirely...
K. S. Sujit
Full Text Available Theoretical and empirical studies have focused on discretionary investments such as research and development (R&D and advertisement as value-creating activities. This empirical research article examines the determinants of the discretionary investment policy of food sector firms in India. The study aims to analyze the impact of financial policies and firm characteristics on the discretionary investment strategy of the food industry firms. The article uses the partial least squares structural equation modeling (PLS-SEM to understand the drivers of discretionary investment policy of food sector firms. The study finds that investment policy of firms is a major determinant of profitability of food sector firms. Higher investments in capital expenditures and working capital result in higher profitability. Management efficiency significantly influences firm profitability. The results suggest that riskier firms in food sector might focus on R&D investments as a strategy to generate more cash flows. Size of firm is negatively related to R&D intensity. Smaller firms in food sector tend to invest more in R&D. The study does not provide evidence to suggest that profitable firms invest more in R&D activities.
Greasley, David; Madsen, Jakob B.
A severe collapse of fixed capital formation distinguished the onset of the Great Depression from other investment downturns between the world wars. Using a model estimated for the years 1890-2000, we show that the expected profitability of capital measured by Tobin's q, and the uncertainty...... surrounding expected profits indicated by share price volatility, were the chief influences on investment levels, and that heightened share price volatility played the dominant role in the crucial investment collapse in 1930. Investment did not simply follow the downward course of income at the onset...
KIRLI, Mustafa; GÜMÜŞ, Harun
To compete successfully in today’s highly competitive global environment, companies have made customer satisfaction an overriding priority. They have also adopted new management approaches, changed their manufacturing systems and invested in new technologies. Strategic management accounting examines the decision-making linked with the business operations and strategic work of financial administration as support for the same. Strategic management accounting is a theory and practice of ac...
Sun, Xiaolei; Li, Jianping; Wang, Yongfeng; Clark, Woodrow W.
Sovereign Wealth Funds (SWFs) are state-owned investment funds that invest in real and financial assets. Since the global financial crisis in 2008, SWFs' investments have resulted in national security concerns of host countries because SWFs continue to expand rapidly and have become increasingly active in real-time strategic transactions. Given this background, China, which has the biggest SWF in the world, is facing severe challenges of energy resources shortages while its plan is to accomplish social and economic development goals. Energy security is a key driving force of the energy investment policy of China's SWFs. This makes the SWF investments more complicated and more politically sensitive. The combination of sovereign rights and the strategic importance of energy also makes geopolitics more complicated and brings more uncertainty to SWF investments. This article explores the relationship between energy security and energy investments of China's SWFs. It is recognised that the energy investment of SWFs must follow a sustainable path to coordinate energy security, economic growth, return on investment and national security concerns. Government policymakers are urged to balance the financial and political returns on SWFs against potential negative effects. The conclusion presents insights for policymakers, energy scholars and SWF researchers. - Highlights: • Sovereign Wealth Funds (SWFs) are government-owned and may pursue geopolitical power. • SWF investment in energy is necessary for commercial and strategic interests. • China's SWFs are active in energy investment to support a “going global” strategy. • Sovereign rights are inevitable to integrate the strategic property of energy. • SWF investments in energy suffer negative impacts due to sovereign rights
The major prerequisite of successful entrepreneurship venture is quality of decision-making process. Decision in investment is the most important financial decision. It is a part of both long-term business planning process and strategic business definition. Using available investment appraisal methods, entrepreneur should make positive or negative investment decision. Within the development of the economic theory and the practice many of methods made decision-making process rational and gave ...
COPIL CRINA ANGELA
Full Text Available I chose this topic because my goal was to capture in detail all aspects of the evolution of investment funds under the influence of factors leading to globalization of the banking financial market. Main motivation was that I proposed to present in an original manner the concept of investment in mutual funds by the thoroughness of the following points: the different types of investment funds from Romania, the advantages, the risks and the specific costs of the investment in mutual funds and the effects of the financial crisis on the industry of the investment funds on the national level. The financial crisis and the risk of infecting the global economy affected the taste of risk of the investors and their request for the investment fund, determining the orientation of the investors to the funds with a lower risk – the diversified funds, the funds of bonds and the monetary funds. I considered important the theoretical approach of the concept of investments in investment funds because they are a barometer of the macro economical stability, in case the economical increase is positive on the macro economical level the investments in investments funds are increasing too. In Romania the market of the mutual funds is at an incipient level, but with potential and perspectives of development. Due to the bankruptcy of FNI in the beginning of the years 2000 and due to the absence of a clear legislation regarding the calculation of the unitary value of the net asset and the control of the activity developed by the investment funds, the development of the industry of the investment funds had to fight against the crisis of credibility generated by these events. The convergence of the Romanian economy to the European standards will attract also a modification of the structure of the financial investments of the individuals, by an increase of the investments in funds. In the world the investment funds are preferred by the investors for their advantages
Marie, Patricia; Briand, Pauline; Floquet-Daubigeon, Fleur; Michaut, Maxime; De Scorbiac, Marie; Du Repaire, Philippine
On December 13, 2011, Luc Oursel, CEO, and Pierre Aubouin, Chief Financial Officer presented the group's strategic plan for the period 2012-2016. The plan has been drawn up collectively and is based on a thorough-going analysis and a realistic assessment of perspectives for all group activities and associated resources. Development of nuclear and renewable energies: the fundamentals are unchanged. In this context, the German decision remains an isolated case and the great majority of nuclear programs around the world have been confirmed. More conservative in its projections than the International Energy Agency, the group expects growth of 2.2% annually, reaching 583 GW of installed nuclear capacity by 2030, against 378 GW today. However, the Fukushima accident will lead to delays in launching new programs. 'Action 2016' plan aims to consolidate AREVA's leadership in nuclear energy and become a leading player in renewable energy. The group's strategic action plan 'Action 2016' is based on the following strategic choices: - commercial priority given to value creation, - selectivity in investments, - strengthening of the financial structure. These demand an improvement in the group's performance by 2015. This plan makes nuclear safety a strategic priority for the industrial and commercial performance of the group. This ambitious performance plan for the period 2012-2016 will give the group the wherewithal to withstand a temporary slowdown in the market resulting from the Fukushima accident and to deliver safe and sustainable growth of the business. The plan sets out the strategic direction for the group's employees for the years ahead: taking advantage of the expected growth in nuclear and renewable energies, targeted investment programs, and return to self-financing as of 2014
Responsible investment has witnessed significant changes in the past decade. It is estimated that about one fifth of assets under management in the US and about half of all assets under management in the EU are done on the basis of one of the seven responsible investment strategies. This paper
The studys purpose is to provide MoDOT with insight to the potential ROI for airport : investments in terms of economic development. To do so, this study addresses two central : objectives: first, an approach to evaluate airport investments; and s...
O. V. Pochukaeva
Full Text Available The actual deficiency of investment into Russian industry innovative development increases its technological drag from industries of countries with developed markets. Although the rate of investment into real sectors of Russian economics mid 2000 was higher compared to the previous period, annual investment amounts were much lower than in 1990. At present, highest investment amounts are directed to industry extractive branches and to the commerce. Amounts invested to various economy branches do not correspond to their contribution to the country’sGross Added Product; particularly underinvested are manufacturing industry branches. At present, foreign share in the country economy total investment makes 15–18%. Recently, most interesting for foreigners was investment to machine-building branches with overwhelming part (for example, 90% in 2007–2008 of foreign investment into the machine-building industry being directed to creation of new automobile plants. Today, first place in the list of foreign investors’ preferences in Russia is taken by the machine-tool construction sector.
Groenveld attempted to show the magnitude of investments in agriculture, which were necessary to meet the increasing world demand for food. The formula S = K/Y (ΔN +ΔH) was assumed as a description that for a community the proportion of national income saved and invested must equal the product of
Wright, Arthur; Goen, Tom
Problems of duplex investment are noted in the introduction to this booklet designed to provide a technique by which the investment decision can be approached, develop estimates of typical costs and returns under differing conditions, and encourage investors to analyze objectives and conditions before the decision to buy or build is made. A…
Full Text Available Global economy still records a decline in FDI. The main causes are increased economic instability and geopolitical risks. Given the continued negative trend, it is clear that it is necessary to reform the investment policies at the national, regional, bilateral, multilateral and international level, to ensure sustainable economic development. Key elements of the reforms are: to provide instruments to reduce risks, create mechanisms of responsible investment, improve the structural coherence and promote regional investments. Refer to the current dates of the sectors investments (according to the report of UNCTAD from 2015th shows that the services sector recorded double growth compared to the investment in the manufacturing sector in 2012. Also, if we take into consideration the fact that investment in IT sector investment involves three aspects: transactional (minimizing costs, strategic (innovation technologies, achieving competitiveness and information (improving access to information and communications, it may be assumed that the reforms in the investment policies should be directly correlated with investments in information technology.
Full Text Available We construct a comprehensive measure of overall investment banking competitiveness for follow-on offerings that aggregates the various dimensions of competition such as fees, pricing accuracy, analyst recommendations, distributional abilities, market making prowess, debt offering capabilities, and overall reputation. The measure allows us to incorporate trade-offs that investment banks may use in competing for new or established clients. We find that firms who switch to similar-quality underwriters enjoy more intense competition among investment banks which manifests in lower fees and more optimistic recommendations. Investment banks do compete vigorously for some clients, with the level of competition related to the likelihood of gaining or losing clients. Finally, investment banks not performing up to market norms are more likely to be dropped in the follow-on offering. In contrast, firms who seek a higher reputation underwriter face relatively non-competitive markets.
Shirey, Maria R
This department highlights change management strategies that may be successful in strategically planning and executing organizational change initiatives. With the goal of presenting practical approaches helpful to nurse leaders advancing organizational change, content includes evidence-based projects, tools, and resources that mobilize and sustain organizational change initiatives. In this article, the author presents an overview of strategic leadership and offers approaches for cultivating strategic thinking skills.
Arellano, Lawrence R.; Arroyo, Steven C.; Giese, Gerald J.; Cox, Philip M.; Rogers, G. Kelly
This document presents an architectural framework (plan) and roadmap for the implementation of a robust Cloud Computing capability at Sandia National Laboratories. It is intended to be a living document and serve as the basis for detailed implementation plans, project proposals and strategic investment requests.
Paul, Heather L.; Lamberth, Erika Guillory; Jennings, Mallory A.
NASA has defined strategic goals to invest in next-generation technologies and innovations, inspire students to become the future leaders of space exploration, and expand partnerships with industry and academia around the world. The Crew and Thermal Systems Division (CTSD) at the NASA Johnson Space Center actively supports these NASA initiatives. In July 2011, CTSD created a strategic communications team to communicate CTSD capabilities, technologies, and personnel to external technical audiences for business development and collaborative initiatives, and to students, educators, and the general public for education and public outreach efforts. This paper summarizes the CTSD Strategic Communications efforts and metrics through the first half of fiscal year 2012 with projections for end of fiscal year data.
Paul, Heather L.
NASA has defined strategic goals to invest in next-generation technologies and innovations, to inspire students to become the future leaders of space exploration, and to expand partnerships with industry and academia around the world. The Crew and Thermal Systems Division (CTSD) at the NASA Johnson Space Center actively supports these NASA initiatives. In July 2011, CTSD created a strategic communications team to communicate CTSD capabilities, technologies, and personnel to internal NASA and external technical audiences for business development and collaborative initiatives, and to students, educators, and the general public for education and public outreach efforts. This paper summarizes the CTSD Strategic Communications efforts and metrics through the first nine months of fiscal year 2012.
Berlin, Jonathan W; Lexa, Frank J
Strategic planning is becoming essential to neuroradiology as the health care environment continues to emphasize cost efficiency, teamwork and collaboration. A strategic plan begins with a mission statement and vision of where the neuroradiology division would like to be in the near future. Formalized strategic planning frameworks, such as the strengths, weaknesses, opportunities and threats (SWOT), and the Balanced Scorecard frameworks, can help neuroradiology divisions determine their current position in the marketplace. Communication, delegation, and accountability in neuroradiology is essential in executing an effective strategic plan. Copyright © 2012 Elsevier Inc. All rights reserved.
Foss, Nicolai Juul
While (managerial) beliefs are central to many aspects of strategic organization, interactive beliefs are almost entirely neglected, save for some game theory treatments. In an increasingly connected and networked economy, firms confront coordination problems that arise because of network effects....... The capability to manage beliefs will increasingly be a strategic one, a key source of wealth creation, and a key research area for strategic organization scholars.......While (managerial) beliefs are central to many aspects of strategic organization, interactive beliefs are almost entirely neglected, save for some game theory treatments. In an increasingly connected and networked economy, firms confront coordination problems that arise because of network effects...
Full Text Available There are many examples of information systems which are claimed to have created and sustained competitive advantage, allowed beneficial collaboration or simply ensured the continued survival of the organisations which used them These systems are often referred to as being 'strategic'. This paper argues that many of the examples of strategic information systems as reported in the literature are not sufficiently critical in determining whether the systems meet the generally accepted definition of the term 'strategic' - that of achieving sustainable competitive advantage. Eight of the information systems considered to be strategic are examined here from the standpoint of one widely-accepted 'competition' framework- Porter's model of industry competition . The framework is then used to question the linkage between the information systems and the mechanisms which are required for the enactment of strategic business objectives based on competition. Conclusions indicate that the systems are compatible with Porter's framework. Finally, some limitations of the framework are discussed and aspects of the systems which extend beyond the framework are highlighted
McColgan, E A
If you're in the business of service delivery, investment in the training and development of your staff is one of the keys to your company's success. But what's the best way to design and implement your investment? In 1994, Fidelity Institutional Retirement Services Company (FIRSCo) needed to ensure that its rapidly expanding staff maintained the company's high levels of customer satisfaction. The solution, according to Ellyn McColgan, formerly an executive vice president of FIRSCo and now the president of Fidelity Investments Tax-Exempt Services Company, was to reach out to its service associates with a powerful new model for training and development called Service Delivery University. SDU is a virtual university with a content-based core curriculum and five colleges that focus on business concepts and skills. It is driven by three principles. First, all training must be directly aligned with the company's strategic and financial objectives and focused on customer needs. Second, service delivery is a profession and should be taught as such. And finally, professional development should be the primary responsibility of line managers rather than the human resources department. McColgan explains how FIRSCo overcame resistance to this sweeping change in employee education. (Time was one obstacle: each associate receives 80 hours of training per year.) In addition, the author discusses the fine art of measuring the success of a program like SDU. She finds that the company's investment has paid dividends to the staff, to the organization as a whole, and to FIRSCo's customers.
Gao, Xuexian; Zheng, Haidong
Environmental regulators often use environmental policy to induce green investment by firms. However, if an environmental policy fails to exert a long-run effect on regulating the economic agents' behavior, it may be more reasonable to think of the firm as the leader in the game, since the investment in green technology is usually a strategic decision. In this paper, we consider a three-stage Stackelberg game to address the interaction between a profit-maximizing firm (Stackelberg leader) facing emission-dependent demand, and the environmental regulator (Stackelberg follower). The firm decides on the green technology level in the first stage of the game based on its understanding of the regulator's profits function, especially an environmental concern that is introduced as an exogenous variable. In the current research, we show that high levels of the regulator's environmental concerns do not necessarily lead to the choice of green technology by the firm, and green investment level depends on the combined effects of the market and operational factors for a given level of the regulator's environmental concerns. The result also shows that increasing environmental awareness amongst the consumers is an effective way to drive the firm's green investment.
Full Text Available Environmental regulators often use environmental policy to induce green investment by firms. However, if an environmental policy fails to exert a long-run effect on regulating the economic agents’ behavior, it may be more reasonable to think of the firm as the leader in the game, since the investment in green technology is usually a strategic decision. In this paper, we consider a three-stage Stackelberg game to address the interaction between a profit-maximizing firm (Stackelberg leader facing emission-dependent demand, and the environmental regulator (Stackelberg follower. The firm decides on the green technology level in the first stage of the game based on its understanding of the regulator’s profits function, especially an environmental concern that is introduced as an exogenous variable. In the current research, we show that high levels of the regulator’s environmental concerns do not necessarily lead to the choice of green technology by the firm, and green investment level depends on the combined effects of the market and operational factors for a given level of the regulator’s environmental concerns. The result also shows that increasing environmental awareness amongst the consumers is an effective way to drive the firm’s green investment.
This study examines the strategic market approach for investing in solar water pumps market (SWP) in India, and Punjab state as a business case. The main research question is: What is an appropriate strategic market approach to invest in solar water pump market in India? The study focuses on the marketing strategy and strategic planning to enter the Indian market. The thesis follows the qualitative study design where the data was collected by observing the market and interviewing main sta...
A study was conducted to assess the effect that different energy options would have on provincial and regional employment prospects in British Columbia. Current and future economic and employment patterns were examined to develop a more detailed understanding of the skills, age, gender, location, and other characteristics of British Columbia workers. Over 40 previous studies examining the energy/employment relationship were also reviewed. Based on this review and an analysis of the province's economic and labor conditions, the following conclusions are drawn. Investment in non-energy sectors offers better prospects for reducing unemployment than investment in the energy sector, whether for new supply or improving efficiency. Investments in the energy sector provide fewer jobs than investments in most other sectors of the economy. Among the available electricity supply options, large hydroelectric projects tend to produce the fewest jobs per investment dollar. Smaller thermal projects such as wood residue plants produce the most jobs. If and when more energy is needed in British Columbia, the most cost-effective combination of energy supply and efficiency options will also create the most jobs. Compared to traditional energy supply options, investments in energy efficiency would create about twice as many total jobs, create jobs that better match the skills of the province's unemployed and its population distribution, and create jobs that last longer on the average. Construction-related measures such as improved insulation tend to produce more jobs per investment dollar than the substitution of more energy-efficient equipment. 69 refs., 9 tabs
Full Text Available In the article the approaches to defining the essence of the concept of “investment attractiveness of enterprises” were analyzed. On the example of "Agrofirm Brusilov" depth analysis of the agricultural enterprises to evaluate of profitability, liquidity, solvency, financial stability, the timing of the return of invested funds and minimizing investment risks was conducted. To study methods of rating and system analysis were used. To justify the conditions of increasing investment attractiveness farms method of scoring was used. It was established as a result of the use of integrated evaluation of the financial position one can see problem aspects of financial position of the company and develop measures to enhance liquidity, solvency, identify potential for raising the efficiency of company and prevention of financial crisis. The analysis of financial position showed that the management of the enterprise doesn’t think about financial stability and solvency, does not understand the benefit of borrowed capital. Using research results in practice of agricultural enterprises allows us to give a real evaluation of investment attractiveness and justify ways to improve it. Key words: investments, investment attractiveness, potential business, financial position.
Full Text Available The unprecedented development of criminality at the social and economical levels, the tendency toglobalize some categories of crimes, of maximum gravity, as terrorism, armament traffic, drug traffic orhuman traffic, have determined the world states to undertake specific measures to prevent, combat and finallyreduce it. The first and most important measure taken by the Europe’s Council, regarding the intensificationof judicial cooperation in criminal matters was the adoption of the European Convention on extradition, inParis on 13 December 1957, completed by the two Additional Protocols in Strasbourg, on 15 October 1975and 17 March 1978. In this context, the release of the Council’s Framework Decision on 13 June 2002 on theEuropean arrest warrant and the procedures of delivery among the member states (2002/584/JAI representeda natural decision, with the purpose of contributing at ensuring a free, secure and just European space. TheEuropean arrest warrant is a judicial decision through which a competent judicial authority of a EuropeanUnion member state solicits the arrest and delivery by another member state, in order to proceed to theprosecution, trial or execution of a penalty or safety measure that is privative of freedom.
Immanuel Kant argues in the Foundations that remote scenarios are diagnostic of genuine virtue. When agents commonly thought to have a particular virtue fail to exhibit that virtue in an extreme situation, he argues, they do not truly have the virtue at all, and our propensities to fail in such ways indicate that true virtue might never have existed. Kant's suggestion that failure to show, say, courage in extraordinary circumstances necessarily silences one's claim to have genuine courage seems to rely on an implausibly demanding standard for warranted virtue attributions. In contrast to this approach, some philosophers-such as Robert Adams and John Doris-have argued for probabilistic accounts of warranted virtue attributions. But despite the initial plausibility of such accounts, I argue that a sole reliance on probabilistic approaches is inadequate, as they are insufficiently sensitive to considerations of credit and fault, which emerge when agents have developed various insurance strategies and protective capacities against their responding poorly to particular eventualities. I also argue that medical graduates should develop the sorts of virtuous dispositions necessary to protect patient welfare against various countervailing influences (even where such influences might be encountered only rarely), and that repeated failures to uphold the proper goals of medicine in emergency scenarios might indeed be diagnostic of whether an individual practitioner does have the relevant medical virtue. In closing, I consider the dispositions involved in friendship. I seek to develop a principled way of determining when remote scenarios can be illuminating of genuine friendship and genuine virtue.
Sandal, Leif K.; Steinshamn, Stein I.; Hoff, Ayoe
A multi-dimensional, non-linear dynamic model in continuous time is presented for the purpose of finding the optimal combination of exploitation and capital investment in optimal renewable resource management. Non-malleability of capital is incorporated in the model through an asymmetric cost......-function of investment, and investments can be both positive and negative. Exploitation is controlled through the utilisation rate of available capital. A novel feature in this model is that there are costs associated with the available capital whether it is utilised or not. And, in contrast to most of the previous...
Il saggio indaga gli aggregati informativi e gli elementi che compongono lo strategic management accounting. Sono quindi analizzate le funzioni svolte nei diversi stadi del processo di gestione strategica osservando il suo ruolo all’interno del management accounting. Infine sono approfonditi i rapporti fra i livelli della gestione strategica e lo strategic management accounting.
Christensen, Lars Holmgaard
This paper will introduce a framework for distinguishing between shitstorm types and social media crises. In need of strategies for handling social media crowds the paper suggests a strategic approach that focus on the cultivation of social media crowds and offers a valuable conceptual...... understanding of crowdnursing as a strategic tool....
Derleth, Jason; Lobia, Marcus
This slide presentation provides an overview of the attempt to develop and demonstrate a methodology for the comparative assessment of risks across the entire portfolio of NASA projects and assets. It includes information about strategic risk identification, normalizing strategic risks, calculation of relative risk score, and implementation options.
There are several types of planning processes and plans, including strategic, operational, tactical, and contingency. For this document, operational planning includes tactical planning. This chapter examines the strategic planning process and includes an introduction into disaster response plans. "A strategic plan is an outline of steps designed with the goals of the entire organisation as a whole in mind, rather than with the goals of specific divisions or departments". Strategic planning includes all measures taken to provide a broad picture of what must be achieved and in which order, including how to organise a system capable of achieving the overall goals. Strategic planning often is done pre-event, based on previous experience and expertise. The strategic planning for disasters converts needs into a strategic plan of action. Strategic plans detail the goals that must be achieved. The process of converting needs into plans has been deconstructed into its components and includes consideration of: (1) disaster response plans; (2) interventions underway or planned; (3) available resources; (4) current status vs. pre-event status; (5) history and experience of the planners; and (6) access to the affected population. These factors are tempered by the local: (a) geography; (b) climate; (c) culture; (d) safety; and (e) practicality. The planning process consumes resources (costs). All plans must be adapted to the actual conditions--things never happen exactly as planned.
To strategically manage human capital in education means restructuring the entire human resource system so that schools not only recruit and retain smart and capable individuals, but also manage them in ways that support the strategic directions of the organization. These management practices must be aligned with a district's education improvement…
Garcia Schreck, M.
This report focuses on the current petroleum investment conditions in Peru, and Peru's hydrocarbon potential. Investment conditions are examined, and political risk, internal security, the economic environment, and the legal framework for investment are considered. (UK)
Payr, Sabine; Skowron, Marcin; Dobrosovestnova, Anna; Trapp, Martin; Trappl, Robert
Conversational robots and agents are being designed for educational and/or persuasive tasks, e.g., health or fitness coaching. To pursue such tasks over a long time, they will need a complex model of the strategic goal, a variety of strategies to implement it in interaction, and the capability of strategic talk. Strategic talk is incipient ongoing conversation in which at least one participant has the objective of changing the other participant's attitudes or goals. The paper is based on the observation that strategic talk can stretch over considerable periods of time and a number of conversational segments. Film dialogues are taken as a source to develop a model of the strategic talk of mentor characters. A corpus of film mentor utterances is annotated on the basis of the model, and the data are interpreted to arrive at insights into mentor behavior, especially into the realization and sequencing of strategies.
Olesen, Kristian; Richardson, Tim
In this paper, we analyse how contested transitions in planning rationalities and spatial logics have shaped the processes and outputs of recent episodes of Danish ‘strategic spatial planning’. The practice of ‘strategic spatial planning’ in Denmark has undergone a concerted reorientation...... style of ‘strategic spatial planning’ with its associated spatial logics is continuously challenged by a persistent regulatory, top-down rationality of ‘strategic spatial planning’, rooted in spatial Keynesianism, which has long characterised the Danish approach. The findings reveal the emergence...... of a particularly Danish approach, retaining strong regulatory aspects. However this approach does not sit easily within the current neoliberal political climate, raising concerns of an emerging crisis of ‘strategic spatial planning’....
Full Text Available The goal of this paper is to explain the origin and development of strategic spatial planning, to show complex features and highlight the differences and/or advantages over traditional, physical spatial planning. Strategic spatial planning is seen as one of approaches in legally defined planning documents, and throughout the display of properties of sectoral national strategies, as well as issues of strategic planning at the local level in Serbia. The strategic approach is clearly recognized at the national and sub-national level of spatial planning in European countries and in our country. It has been confirmed by the goals outlined in documents of the European Union and Serbia that promote the grounds of territorial cohesion and strategic integrated planning, emphasizing cooperation and the principles of sustainable spatial development. [Projekat Ministarstva nauke Republike Srbije, br. 176017
Leland, Robert W. [Sandia National Lab. (SNL-NM), Albuquerque, NM (United States)
I am pleased to present this summary of the FY17 Division 1000 Science and Technology Strategic Plan. As this plan represents a continuation of the work we started last year, the four strategic themes (Mission Engagement, Bold Outcomes, Collaborative Environment, and Safety Imperative) remain the same, along with many of the goals. You will see most of the changes in the actions listed for each goal: We completed some actions, modified others, and added a few new ones. As I’ve stated previously, this is not a strategy to be pursued in tension with the Laboratory strategic plan. The Division 1000 strategic plan is intended to chart our course as we strive to contribute our very best in service of the greater Laboratory strategy. I welcome your feedback and look forward to our dialogue about these strategic themes. Please join me as we move forward to implement the plan in the coming months.
Environment, trade, and investment are fundamentally linked as the environment provides many basic inputs of economic activity – forests, fisheries, metals, minerals – as well as the energy used to process those materials.
Goessling, T.; Buijter, Bas; Freeman, R.E.; Kujala, J.; Sachs, S.
This study explores engagement in socially responsible investment (SRI) processes. More specifically, it researches the impact of shareholder salience on the success of engagement activities. The research question asks: What is the relationship between shareholder salience and engagement effort
Literature was reviewed on multi-modal investment criteria for freight projects, examining measures and techniques for quantifying project benefits and costs, as well as ways to describe the economic importance of freight transportation. : A limited ...
Awunyo-Akaba, Y.; Awunyo-Akaba, J.; Gyapong, M.
with people’s willingness and ability to invest in household sanitation across all communities. The status of being a stranger i.e. migrant in the area left some populations without rights over the land they occupied and with low incentives to invest in sanitation, while indigenous communities were challenged......Background: Ghana’s low investment in household sanitation is evident from the low rates of improved sanitation. This study analysed how land ownership, tenancy security and livelihood patterns are related to sanitation investments in three adjacent rural and peri-urban communities in a district...... communities were triangulated with multiple interview material and contextual knowledge on social structures, history of settlement, land use, livelihoods, and access to and perceptions about sanitation. Results: This study shows that the history of settlement and land ownership issues are highly correlated...
Bonke, Jens; Esping-Andersen, Gösta
This study examines parental time investment in their children, distinguishing between developmental and non-developmental care. Our analyses centre on three influential determinants: educational background, marital homogamy, and spouses’ relative bargaining power. We find that the emphasis...
D. A. Seliverstov
Full Text Available The prime focus in this article is on key findings concerning theoretical aspects of strategic behavior by incumbents to deter market entry of new firms. The author summarizes main lines of scientific research in the topic which give an insight into the patterns of the incumbent’s impact on the behavior of the entrants, the entry deterrence instruments and the consequences of these actions. Today the free entry markets are considered to be a rare phenomenon. The market entry of new firms is associated with significant entry costs, which allow the incumbents to take advantage of their dominant position and derive positive economic profits. In case of entry threat by potential competitors the incumbents take strategic actions aimed at deterring entry and preserving their dominant position. Among the most efficient strategic actions one can emphasize the erection of additional barriers to entry for the newcomers through producing the limit output and price, investments in sunk assets, capacity expansion and product differentiation. Meanwhile by taking strategic actions the incumbents are not always trying to affect the entrant’s costs and profit directly, they often aim at changing the entrant’s expectations regarding future intentions of the incumbents to preserve dominant position.
Delgado, Rigoberto I; Langabeer, James R
Most research in healthcare strategy has focused on formulating or implementing organizational plans and strategies, and little attention has been dedicated to the post-implementation control and evaluation of strategy, which we contend is the most critical aspect of achieving organizational goals. The objective of this study was to identify strategic control approaches used by major cancer centers in the country and to relate these practices to financial performance. Our intent was to expand the theory and practice of healthcare strategy to focused services, such as oncology. We designed a 17-question survey to capture elements of strategy and performance from our study sample, which comprised major cancer hospitals in the United States and shared similar mandates and resource constraints. The results suggest that high-performing cancer centers use more sophisticated analytical approaches, invest greater financial resources in performance analysis, and conduct more frequent performance reviews than do low-performing organizations. Our conclusions point to the need for a more robust approach to strategic assessment. In this article, we offer a number of recommendations for management to achieve strategic plans and goals on the basis of our research. To our knowledge, this study is one of the first to concentrate on the area of strategic control.
Full Text Available Airports are a key link of the air transport infrastructure, which is a part of the whole transportation system. Their potential is determined by a network of airlines relations and affects the long-term, strategic position in the market of aviation services. The most possible scenario of the macro-environment of the Gdansk Airport has a relatively high predictability and generally positive influencing on the potential for development in the next years. Only international and demographic areas can constitute a barrier to achieving the strategic objectives. Gdansk Airport takes permanently the third position on the Polish market. Strategic gap analysis leads to the conclusion that, compared to its main competitors Airport Gdansk has a gap of compliance trends, but in relation to smaller regional airports excess gap. GDN services are located in the square "Star" in the BCG matrix. This airport has prepared an investment program till 2035. The dynamics of the projected increase in the number of passengers and air operations in Gdansk is generally slightly higher than the growth nationwide forecasts. The strategic challenge for next years will be to strengthen the status of the GDN as a Polish aviation gateway to Scandinavia.
Venkatraman, Vinod; Huettel, Scott
Complex economic decisions – whether investing money for retirement or purchasing some new electronic gadget – often involve uncertainty about the likely consequences of our choices. Critical for resolving that uncertainty are strategic meta-decision processes, which allow people to simplify complex decision problems, to evaluate outcomes against a variety of contexts, and to flexibly match behavior to changes in the environment. In recent years, substantial research implicates the dorsomedial prefrontal cortex (dmPFC) in the flexible control of behavior. However, nearly all such evidence comes from paradigms involving executive function or response selection, not complex decision making. Here, we review evidence that demonstrates that the dmPFC contributes to strategic control in complex decision making. This region contains a functional topography such that the posterior dmPFC supports response-related control while the anterior dmPFC supports strategic control. Activation in the anterior dmPFC signals changes in how a decision problem is represented, which in turn can shape computational processes elsewhere in the brain. Based on these findings, we argue both for generalized contributions of the dmPFC to cognitive control, and for specific computational roles for its subregions depending upon the task demands and context. We also contend that these strategic considerations are also likely to be critical for decision making in other domains, including interpersonal interactions in social settings. PMID:22487037
Marseguerra, Giovanni [Istituto di Econometria e CRANEC, Universita Cattolica del Sacro Cuore di Milan (Italy)]. E-mail: email@example.com; Cortelezzi, Flavia [Dipartimento di Diritto ed Economia delle Persone e delle Imprese, Universita dell' Insubria (Italy)]. E-mail: firstname.lastname@example.org; Dominioni, Armando [CORE-Catholique de Louvain la Neuve (Belgium)]. E-mail: email@example.com
We investigate the role of strategic considerations on the optimal timing of investment when firms compete for a new market (e.g., the provision of an innovative product) under demand uncertainty. Within a continuous time model of stochastic oligopoly, we show that strategic considerations are likely to be of limited impact when the new product is radically innovative whilst the fear of a rival's entry may deeply affect firms' decisions whenever innovation is to some extent limited. The welfare analysis shows surprisingly that the desirability of the different market structures considered does not depend on the fixed entry cost.
Marseguerra, Giovanni; Cortelezzi, Flavia; Dominioni, Armando
We investigate the role of strategic considerations on the optimal timing of investment when firms compete for a new market (e.g., the provision of an innovative product) under demand uncertainty. Within a continuous time model of stochastic oligopoly, we show that strategic considerations are likely to be of limited impact when the new product is radically innovative whilst the fear of a rival's entry may deeply affect firms' decisions whenever innovation is to some extent limited. The welfare analysis shows surprisingly that the desirability of the different market structures considered does not depend on the fixed entry cost
Considering the present day international political and economical situation, China's energy security covers five important aspects: energy supplies security, energy prices security, environment security with respect to energy consumption, energy transport security, R and D security in the domain of energy resources exploration, exploitation and utilisation. Considering the above-mentioned aspects, China's strategic choices should include five major goals: counting on its own energy resources and giving priority to energy saving, participating to the international competition and implementing a national strategic reserves system, readjusting the energy consumption structure and promoting environment protection by developing nuclear energy, harmonizing China's relations with some countries and avoiding political and military conflicts, increasing investment in energy R and D, in particular in clean coal, nuclear, automotive, renewable energy and energy saving technologies. (J.S.)
Smyth, Stuart J; McDonald, Jillian; Falck-Zepeda, Jose
As with any technological innovation, time refines the technology, improving upon the original version of the innovative product. The initial GM crops had single traits for either herbicide tolerance or insect resistance. Current varieties have both of these traits stacked together and in many cases other abiotic and biotic traits have also been stacked. This innovation requires investment. While this is relatively straight forward, certain conditions need to exist such that investments can be facilitated. The principle requirement for investment is that regulatory frameworks render consistent and timely decisions. If the certainty of regulatory outcomes weakens, the potential for changes in investment patterns increases. This article provides a summary background to the leading plant breeding technologies that are either currently being used to develop new crop varieties or are in the pipeline to be applied to plant breeding within the next few years. Challenges for existing regulatory systems are highlighted. Utilizing an option value approach from investment literature, an assessment of uncertainty regarding the regulatory approval for these varying techniques is undertaken. This research highlights which technology development options have the greatest degree of uncertainty and hence, which ones might be expected to see an investment decline. PMID:24499745
Full Text Available Investments in fixed capital and human capital represent a reliable way to the economicdevelopment of the Republic of Moldova. The acceleration of investments can be achieved through anactive and viable financial market. The stimulation of institutional investors and of the process ofsecurities issuing and trading is a strategic development tool for the country. The purpose of the study isto analyze insurance companies as institutional investors and to present opportunities for investment instate securities. Markowitz and Sharpe’s theories of efficient investment portfolios selection based onprofitability and risk formed the theoretical and methodological framework. The research is based on datafrom the National Commission for Financial Markets, on the reports of Moldova’s Ministry of Financeand on the statistics from National Bank a National Bureau of Statistics. For secondary analysis, datareports from international organization such as OECD and Insurance Europe and International MonetaryFund have been used. The study was conducted by classical methods of the economic and financialanalysis. The results of research have shown that government securities are the most profitable of allsecurities issued on the primary financial market in the Republic of Moldova. In recent years, interestrates at the state securities are extremely attractive, more attractive than returns on investment in otherareas. State securities are the safest investment because the guarantor of this investment is government.That is why state securities are a very attractive investment area for insurance companies. The stimulationof the investment activity in the state can be achieved by using the primary market of governmentsecurities as an investment tool for capitalization of the investment potential of the insurance market.
Nasrolahpour, Ehsan; Kazempour, Seyyedjalal; Zareipour, Hamidreza
This paper proposes a model to determine the optimasize of an energy storage facility from a strategic investor’s perspective. This investor seeks to maximize its profit through making strategic planning, i.e., storage sizing, and strategic operational, i.e., offering and bidding, decisions. We...... consider the uncertainties associated with rival generators’ offering strategies and future load levels in the proposed model. The strategic investment decisions include the sizes of charging device, discharging device and energy reservoir. The proposed model is a stochastic bi-level optimization problem......; the planning and operation decisions are made in the upper-level, and market clearing is modeled in the lower-level under different operating scenarios. To make the proposed model computationally tractable, an iterative solution technique based on Benders’ decomposition is implemented. This provides a master...
Ferrera-Tourenc, V; Lassale, B; Chiaroni, J; Dettori, I
This study describes patient identification errors leading to transfusional near-misses in blood issued by the Alps Mediterranean French Blood Establishment (EFSAM) to Marseille Public Hospitals (APHM) over an 18-month period. The EFSAM consolidates 14 blood banks in southeast France. It supplies 149 hospitals and maintains a centralized database on ABO types used at all area hospitals. As an added precaution against incompatible transfusion, the APHM requires ABO testing at each admission regardless of whether the patient has an ABO record. The study goal was to determine if admission testing was warranted. Discrepancies between ABO type determined by admission testing and records in the centralized database were investigated. The root cause for each discrepancy was classified as specimen collection or patient admission error. Causes of patient admission events were further subclassified as namesake (name similarity) or impersonation (identity fraud). The incidence of ABO discrepancies was 1:2334 including a 1:3329 incidence of patient admission events. Impersonation was the main cause of identity events accounting for 90.3% of cases. The APHM's ABO control policy prevented 19 incompatible transfusions. In relation to the 48,593 packed red cell units transfused, this would have corresponded to a risk of 1:2526. Collecting and storing ABO typing results in a centralized database is an essential public health tool. It allows crosschecking of current test results with past records and avoids redundant testing. However, as patient identification remains unreliable, ABO typing at each admission is still warranted to prevent transfusion errors. Copyright © 2015 Elsevier Masson SAS. All rights reserved.
Bain, D.J.; Brush, G.S.
Recent research shows that land use history is an important determinant of current ecosystem function. In the United States, characterization of land use change following European settlement requires reconstruction of the original property mosaic. However, this task is difficult in unsystematically surveyed areas east of the Appalachian Mountains. The Gwynns Falls watershed (Baltimore, MD) was originally surveyed in the 1600-1700s under a system of warrants and patents (commonly known as 'metes and bounds'). A method for the reconstruction and mapping of warrant and patent properties is presented and used to map the original property mosaic in the Gwynns Falls watershed. Using the mapped mosaic, the persistence of properties and property lines in the current Gwynns Falls landscape is considered. The results of this research indicate that as in agricultural areas, the original property lines in the Gwynns Falls watershed are persistent. At the same time, the results suggest that the property mosaic in heavily urbanized/suburbanized areas is generally 'reset.' Further, trends in surveying technique, parcel size, and settlement patterns cause property line density and property shape complexity to increase in the less urbanized upper watershed. The persistence of original patterns may be damping expression of heterogeneity gradients in this urban landscape. This spatial pattern of complexity in the original mosaic is directly opposite of hypothesized patterns of landscape heterogeneity arising from urbanization. The technique reported here and the resulting observations are important for landscape pattern studies in areas settled under unsystematic survey systems, especially the heavily urbanized areas of the eastern United States. ?? 2004 Kluwer Academic Publishers.
Martina Hedda Sola
Full Text Available Research has shown that foreign direct investments benefit the economic development of a host country. However, numerous examples of an inadequate investment structure point to the possible damages for an economic, as well as socio- political development of a country. The purpose of this paper is to looks into the structure of total foreign direct investments realised in the Republic of Croatia and, by using scientific methods, analyse the importance and the effect of foreign direct investments on the Croatian economy. Through following world’s the best practice, the paper offers a comparative analysis of the Republic of Croatia and the countries of the region, with the purpose of identifying the institutional obstacles for investment and producing a detailed SWOT analysis of the Republic of Croatia as an investment destination. Despite numerous existing conventions and protocols, a desired degree of adjustment to international conventions has not yet been achieved, which hinders investment. The Government should create a protection mechanism in order to keep the investors in the times of crisis, as well as policy of attracting the strategically oriented investments that will facilitate long-term economic growth. The first method through which it is possible to define a strategy of attracting strategically oriented investments into the economy, is the qualitative identification of the Republic of Croatia as an investment destination through SWOT analysis.
Rivers provide society with numerous returns. These relate to both the passive and extractive uses of the resources embodied in river environments. Some returns are manifest in the form of financial gains whilst others are non-monetary. For instance, rivers are a source of monetary income for those who harvest their fish. The water flowing in rivers is extracted for drinking and to water crops and livestock that in turn yield monetary profits. However, rivers are also the source of non-monetary values arising from biological diversity. People who use them for recreation (picnicking, swimming, boating) also receive non-monetary returns. The use of rivers to yield these returns has had negative consequences. With extraction for financial return has come diminished water quantity and quality. The result has been a diminished capacity of rivers to yield (non-extractive) environmental returns and to continue to provide extractive values. A river is like any other asset. With use, the value of an asset depreciates because its productivity declines. In order to maintain the productive capacity of their assets, managers put aside from their profits depreciation reserves that can be invested in the repair or replacement of those assets. Society now faces a situation in which its river assets have depreciated in terms of their capacity to provide monetary and non-monetary returns. An investment in river "repair" is required. But, investment means that society gives up something now in order to achieve some benefit in the future. Society thus has to grapple wih the choice between investing in river health and other investments--such as in hospitals, schools, defence etc. - as well as between investing in river health and current consumption--such as on clothes, food, cars etc. A commonly used aid for investment decision making in the public sector is benefit cost analysis. However, its usefulness in tackling the river investment problem is restricted because it requires all
Trumka, Richard L
The crash has happened and we face dual market failures: climate change and the greatest economic crisis of our lifetimes. American labor believes that we must have a strategic approach to greening the economy centered on domestic investment in new technologies, the creation of good jobs, and leading a shared international response to both these issues. The nay-sayers are the same financial and industrial interests that advised the world economy into chaos. Their advice to us is more of the same: no rules, no regulations, free markets, and free trade. But now is the time for real change.
Parisi, Cristiana; Rossi, Paola
The paper used an in depth case study to investigate how firms can integrate the strategic performance measurement of R&D with the Balanced Scorecard. Moreover, the paper investigated the crucial role of controller in the decision making process of this integration.The literature review of R......-financial ratio as the R&D measures to introduce in the Balanced Scorecard.In choosing our case study, we have selected the pharmaceutical industry because of its relevant R&D investment. Within the sector we chose the Italian affiliate of a traditional industry leader, Eli Lilly Italia,that was characterized...
Hydro-Quebec's corporate concerns for 1998-2002 were highlighted. The Corporation's strategic plan envisages that within the next decade, the utility will boost sales by 25 per cent with an investment of $13.2 billion in new generation projects. The electric utility plans to build on past experience and maintain its electricity rates and service quality. Sustaining environmental quality while developing into a world class enterprise remains a major objective of the utility. Research and development will also continue to be an integral part of the utility's operations. Tabs., figs
Japanese Investment in Latin America was considerable in the 1960s and 1970s, but the investment never took off in the developmental style as in East Asia. The author examines why Japanese Foreign Direct Investment in Peru did not follow the pattern of developmental investment, analyzing the elements involved regarding policies in Peru and particular circumstances in Japan in the 1990 decade.
Full Text Available Investment has become a strategic priority for Moldova due to the awareness that attracting investments and creating an appropriate business environment for the market economy, represent the basic factors that contribute to an improvement in productive capacity and an increase in competitiveness of an economy. The quality of the investment climate is linked to poverty reduction by the impact of better investment environments on private sector activity, and thus on economic growth and employment. This research paper evaluates the investment environment in details and determines the impact of the factors that influence it, in order to come up with solutions of removing those barriers to investment, therefore, improve the investment climate in the Republic of Moldova.
Schyns, Birgit; Wisse, Barbara; Sanders, Stacey
The importance of strategic behavior in organizations has long been recognized. However, so far the literature has primarily focused on leaders’ strategic behavior, largely ignoring followers’ strategic behavior. In the present paper, we take a follower trait perspective to strategic follower
Dahl, Ronald E; Allen, Nicholas B; Wilbrecht, Linda; Suleiman, Ahna Ballonoff
This review summarizes the case for investing in adolescence as a period of rapid growth, learning, adaptation, and formational neurobiological development. Adolescence is a dynamic maturational period during which young lives can pivot rapidly-in both negative and positive directions. Scientific progress in understanding adolescent development provides actionable insights into windows of opportunity during which policies can have a positive impact on developmental trajectories relating to health, education, and social and economic success. Given current global changes and challenges that affect adolescents, there is a compelling need to leverage these advances in developmental science to inform strategic investments in adolescent health.
Full Text Available In the entrepreneurship field, this study examines what kinds of external endorsements are helpful for venture capitals investment and the growth of new technology ventures in developing countries. This study uses the signalling theory and the methodologies of multiple regression and survival analysis with the panel data of the ventures in Korea. In the results, collaboration with business groups and certification of government are positively influential in attracting venture capitals’ investment, which accelerate the growth of new technology ventures. The practical implication for entrepreneurs is that they need to obtain the endorsement from business groups and governments strategically.
Ølholm, Anne Mette; Kidholm, Kristian; Birk-Olsen, Mette
decision makers, is not well described. The objective was to review empirical studies analysing the information that hospital decision makers need when deciding about health technology (HT) investments. METHODS: A systematic review of empirical studies published in English or Danish from 2000 to 2012...... in the literature related to clinical, economic and political/strategic aspects. Legal, social, and ethical aspects were seldom considered most important. CONCLUSIONS: Hospital decision makers are able to describe their information needs when deciding on HT investments. The different types of information were...
As mentioned by the European Commission, a consultant has surveyed stakeholders on the concept of setting up strategic stockpiles of natural gas, namely to boost the security of Europe's supply, much like the strategic stockpiling for petroleum products the OECD member countries carried out after the petroleum crisis. If strategic stockpiling consists in blocking off a quantity of gas in addition to the usable stockpile, the AFG believes it is necessary to assess the implications of such a measure and to examine the security gain it would actually offer compared to the measures that have already been implemented to secure supplies. (author)
This thesis analyzes different aspects of the investment decision. In the first chapter, we consider an economy in which different energy sources may produce electricity. The model focuses first on the optimal use of a hydroelectric dam from which water can be extracted and which is supplied with a random water flow. The presence of constraints on a minimal and on a maximal storage capacity makes electricity consumption smoothing possible only when the quantity of water available to the agent lies in a certain range that we determine. In a second stage, we introduce a second energy source with unlimited supply at some exogenous cost. The marginal propensity to produce hydroelectricity is an increasing function of the second technology cost. The availability at a low cost of the alternative source improves thus time diversification. Finally, the optimal electric park is composed of a number of dams that is increasing with the cost of the second technology. Chapter 2 studies the decision of an investor who wants to undertake an irreversible investment when he has the choice between two mutually exclusive projects that present input price and/or output price uncertainty. We prove that the investor decides not to invest in any project when each investment generates the same payoff independently of its size. Therefore, some inaction region appears in which the investor prefers not to invest whereas an immediate investment would have been optimal if no choice had been available: a 'choice value' is thus created. A key feature of this bidimensional degree of uncertainty is thus that the payoff generated by each project is not a sufficient statistic to make a rational investment. In this context, our analysis provides a new motive for waiting to invest: the benefits associated with the dominance of one project over the other. In chapter 3, we study the investment decision problem of a duo-poly with price competition on a market of finite size driven by stochastic taste
Yamin Ahmad; Pietro Cova; Rodrigo Harrison
We present a model of investment under uncertainty about fundamentals, using a global games approach. Goldstein & Razin (2003) show that there is an information based trade-off between foreign direct investment (FDI) and portfolio investment (PI) which rationalizes some well known stylised facts in the literature - the relative volatility and reversibility of foreign direct investment versus portfolio investment. We extend their result and show that uncertainty about fundamentals does not imp...
Justiniano, Alejandro; Primiceri, Giorgio E.; Tambalotti, Andrea
We estimate a New-Neoclassical Synthesis model of the business cycle with two investment shocks. The first, an investment-specific technology shock, affects the transformation of consumption into investment goods and is identified with the relative price of investment. The second shock affects the production of installed capital from investment goods or, more broadly, the transformation of savings into future capital input. We find that this shock is the most important driver of U.S. business...
This study analyses the relationship between firms’ foreign and domestic investments using a panel dataset containing 218 Finnish manufacturing firms during the years 1998-2002. The study examines whether foreign investments increase or decrease domestic investments and whether the effect varies between investments directed to developed markets or emerging markets. Financial constraints’ effect on the relationship is also investigated. The empirical part estimates an empirical investment equa...
Zwart, G.; Broer, D.P.
When a monopolist has discretion over the timing of infrastructure investments, regulation of post-investment prices interferes with incentivizing socially optimal investment timing. In a model of regulated lumpy investment under uncertainty, we study regulation when the regulator can condition
Sergey I. Girko
Full Text Available The attracting of foreign investment is a strategic goal of the Russian economy’s development. Direct investment plays a special role in this process providing an access to financial resources, modern technologies, management skills, innovative goods and services as well as contributing to increase of economic competitiveness, sustained growth and improvements in living standards. In this connection, creation of an enabling environment for foreign investors is a priority sector of public investment policy. Based on the analysis of federal and regional forms of supporting investment activities, it can be concluded that the forms associated with budget injections into the economy are dominant. Co-financing of investment projects, government programs to support exports, create infrastructure (technology parks, SEZ infrastructure, TAD, create support centers for entrepreneurs, all this can be called financial stimulation of economic activity and, in particular, investment activity. The study suggest that the state has to go to these costs in connection with the reduction of the investment potential of the private sector, as a result of the economic crisis and international sanctions.
Shirey, Maria R
This department highlights change management strategies that may be successful in strategically planning and executing organizational change. In this article, the author discusses strategic agility as an important leadership competency and offers approaches for incorporating strategic agility in healthcare systems. A strategic agility checklist and infrastructure-building approach are presented.
The full closure strategic analysis was conducted to create a decision process whereby full roadway : closures for construction and maintenance activities can be evaluated and approved or denied by CDOT : Traffic personnel. The study reviewed current...
This article discusses the concept of the strategic security officer, and the potential that it brings to the healthcare security operational environment. The author believes that training and development, along with strict hiring practices, can enable a security department to reach a new level of professionalism, proficiency and efficiency. The strategic officer for healthcare security is adapted from the "strategic corporal" concept of US Marine Corps General Charles C. Krulak which focuses on understanding the total force implications of the decisions made by the lowest level leaders within the Corps (Krulak, 1999). This article focuses on the strategic organizational implications of every security officer's decisions in the constantly changing and increasingly volatile operational environment of healthcare security.
Kjeldsen, Anna Karina
of institutionalization when strategic communication is not yet visible as organizational practice, and how can such detections provide explanation for the later outcome of the process? (2) How can studies of strategic communication benefit from an institutional perspective? How can the virus metaphor generate a deeper...... understanding of the mechanisms that interact from the time an organization is exposed to a new organizational idea such as strategic communication until it surfaces in the form of symptoms such as mission and vision statements, communication manuals and communication positions? The first part of the article...... focuses on a discussion of the virus metaphor as an alternative to the widespread fashion metaphor for processes of institutionalization. The second part of the article provides empirical examples of the virus metaphor employed, examples that are drawn from a study of the institutionalization of strategic...
Marquez Calle German
The author relates the ecosystems in Colombia, he makes a relationship between ecosystems and population, utility of the ecosystems, transformation of the ecosystems and poverty and he shows a methodology of identification of strategic ecosystems
... to Third World and other nations. I will then discuss the scope of the SDI effort, the evolving strategic defense system architectures and theater defense, our compliancy with the ABM Treaty, technology spinoffs resulting from SDI...
Burleson, Willard M
.... Although only 1 to 2 percent of the Army's senior leaders will attain a command position of strategic leadership, they are assisted by others, not only by teams specifically designed and structured...
... Strategic Value Fund, a series of Advantage Funds, Inc., based on net asset value. Expenses of $81,000... ceased to be an investment company. On September 25, 2009, applicant transferred its assets to Alliance... AllianceBernstein L.P., applicant's investment adviser. Filing Date: The application was filed on March 18...
Sandal, Leif K.; Steinshamn, Stein I.; Hoff, Ayoe
A multi-dimensional, non-linear dynamic model in continuous time is presented for the purpose of finding the optimal combination of exploitation and capital investment in optimal renewable resource management. Non-malleability of capital is incorporated in the model through an asymmetric cost......-function of investment, and investments can be both positive and negative. Exploitation is controlled through the utilisation rate of available capital. A novel feature in this model is that there are costs associated with the available capital whether it is utilised or not. And, in contrast to most of the previous...... literature, the state variables, namely the physical capital and the biological resource, enter the objective function. Due to the nonlinearities in this model some of the results are in sharp contrast to previous literature....
Bechmann, Ken L.
Som det vil være velkendt for de fleste læsere, så er der skiftedag på Finans/Invest. Således var Finans/Invest 8/13 det sidste nummer med Anders Grosen som redaktør, og nærværende nummer er det første med professor Ken L. Bechmann som redaktør. I denne første leder beskriver den nye redaktør lidt...... om hans syn på Finans/Invest og tidsskriftets store betydning for formidling af faglig viden inden for finansiering. Yderligere beskrives nogle af de mindre redaktionelle ændringer, som den nye redaktør har planlagt. Endelig indeholder lederen traditionen tro redaktørens refleksioner over og...
Installation natural resource concerns (for example, wetlands , number of endangered species, water use restrictions, encroachment on training lands...Koehler Publishing, 1994 7. Strategy Safari – A Guided Tour Through the Wilds of Strategic Management by Henry Mintzberg, Bruce Ahlstrand, and...T. (1987). NY: Knopf 36. Shaping Strategic Planning: Frogs, Dragons, Bees and Turkey Tails. Pfeiffer, J. W., Goodstein, L. D. & Nolan, T. M. (1989
strategic ecosystem . In other words, the U.S. should stop trying to dominate and direct global events. The best we can do is to build our capital so...prosperity and security – within a “strategic ecosystem ,” at home and abroad; that in complexity and uncertainty, there are opportunities and hope, as well...law; sovereignty without tyranny, with assured freedom of expression; and an environment for entrepreneurial freedom and global prosperity, with access
Kim, Young-Chan; Chen, Pi-Chi
It is fundamental in both a theoretical and practical sense, to analyse the strategies of successful e-businesses who were formulated and operated alongside incumbent competitors. Thus, there have been an array of strategic arguments concerning the rapidly-burgeoning virtual powerhouse Alibaba, who amidst a sea of fortified competitors, found their ground to become one of the most prominent e-businesses of the decade. At the commencing stages, Alibaba lacked a specific strategic goal, aside f...
Harald Aadne, John; Mahnke, Volker
We discuss strategic renewal from a competence perspective. We argue that the management of speed and timing in this process is viewed distinctively when perceived through a cognitive lens. Managers need more firmly grounded process-understanding. The key idea of this paper is to dynamically conceptualize key activities of strategic renewal, and possible sources of break-down as they relate to the managment of speed and timing. Based on a case from the media industry, we identi...
This document aligns with the Department of Energy Strategic Plan for 2014-2018 and provides a framework for integrating our missions and direction for pursuing DOE’s strategic goals. The vision is a guide to advancing world-class science and engineering, supporting our people, modernizing our infrastructure, and developing a management culture that operates a safe and secure enterprise in an efficient manner.
Suppiah, Haresh T; Low, Chee Yong; Chia, Michael
Sport talent identification and development (TI and TD) in youth continues to attract strong interest among coaches, sport scientists and sport administrators. TI for sport in youth with the anticipation of future elite level sport achievement is both an art and a science, and is strongly influenced by within athlete and extraneous-to-athlete factors (ecosystem of support or the lack of). The returns from investment on current TI and TD models of sport in youth are subpar in that few continue in the sport to achieve podium positions at the elite sport level in adulthood. Why, where and how one succeeds in sport, and what that success means to the athlete and stakeholders are dependent on the culture and context of the country. We advocate harnessing the power of sport to help in youth development, to be holistic in its nurturance, to allow for individual idiosyncratic expressions of the athletes, to provide for talent transfer across sport, and to facilitate key stakeholders to 'join' hands to work for the common interest and understanding for as many youth and adults so as to provide them with opportunities through support and coaching to compete at the different levels of competition in sport. Governments, policy makers and administrators of sport must decide, within their specific circumstances, if TI and TD in sport in youth is serving a meaningful purpose and is a viable return on investment; in short, is it mission possible or is it… a quest for the Holy Grail for a podium finish in elite level sport competition? Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://group.bmj.com/group/rights-licensing/permissions.
Is there a link between the stock market and business investment? Empirical evidence indicates that there is. A firm tends to invest more when its stock price increases, and it tends to invest less when the price falls. In “Stock Prices and Business Investment,” Yaron Leitner discusses existing research that explains this relationship. One question under consideration is whether the stock market actually improves investment decisions.
The investment decision is part of a companies’ investment strategy. Defined as a logical set of technical and economic information, the investment strategy determines the main objectives of the firm regarding its investments, based on studies, analysis and simulations. It also establishes the actions to be undertaken in order to achieve the objectives, methods of achieving them, sources of funding and resource allocation methods. Still, all these are influenced by several factors. The invest...
Maričić Branko R.
Full Text Available Strategic planning of marketing activities is the basis of business success in modern business environment. Customers are not homogenous in their preferences and expectations. Formulating an adequate marketing strategy, focused on realization of company's strategic objectives, requires segmented approach to the market that appreciates differences in expectations and preferences of customers. One of significant activities in strategic planning of marketing activities is market segmentation. Strategic planning imposes a need to plan marketing activities according to strategically important segments on the long term basis. At the same time, there is a need to revise and adapt marketing activities on the short term basis. There are number of criteria based on which market segmentation is performed. The paper will consider effectiveness and efficiency of different market segmentation criteria based on empirical research of customer expectations and preferences. The analysis will include traditional criteria and criteria based on behavioral model. The research implications will be analyzed from the perspective of selection of the most adequate market segmentation criteria in strategic planning of marketing activities.
Full Text Available Carotid sinus hypersensitivity (CSH syndrome is an entity caused by an overreaction of the carotid sinus baroreceptors to stimulation. Three subtypes of CSH syndrome are recognized according to the response to carotid sinus massage (CSM: Predominantly cardioinhibitory, predominantly vasodepressor and a mixed subtype. We report here the case of a middle-aged female patient admitted in our critical care unit with respiratory failure requiring mechanical ventilation. There were episodes of severe bradycardia whenever her head was rotated to any side, relieved on neutralizing head position and administering intravenous atropine. CSM revealed she had predominantly cardioinhibitory type of CSH syndrome. A cardioinhibitory form of hypersensitive carotid sinus reflex, which is idiopathic in causation, probably explains the severe bradycardia on head rotation seen in our patient. A heightened awareness of this syndrome is necessary for timely diagnosis and management. CSH syndrome results from an overreaction of the carotid sinus baroreceptors to stimulation, manifesting commonly as bradycardia, hypotension and syncope. It is an entity, which warrants caution during routine critical care practices.
This study aims to shed light on some of the most interesting financial oil derivatives issued so far in order to assess the potential of this new wave of innovative funding instruments. In Part I some theoretical background is provided and applied to the problem of the American futures option. The ''binomial'' model for valuing future option contracts is presented and the most accurate alternatives for pricing American futures options are reviewed. The role of these numerical procedures in valuing more complex options involved in oil warrants is examined. Comments are made on the behaviour of volatility, which stands as a key interface between theory and practice in oil trading on the oil futures market. Part II of the study describes in detail some of the most famous new financial oil derivatives. Some final conclusions are drawn on the potential of oil trusts and synthetic oilfields to be involved in project and general funding in the oil industry. (44 figures, 11 tables, 53 references) (UK)
Chang, Joohee; Jacobs, Ronald L.
Despite increasing investment in building, supporting, and managing communities of practice that meet the strategic business needs of the organization, the literature indicates that little is known about strategic communities of practice in organizational work settings. The purpose of this study was to investigate determinants and outcomes of…
Farstadvoll, Haakon Simonsen
The purpose of this paper is to estimate the fair value of Aker Solutions ASA per 31.05.2017. The fair value is held up against the market price to make a recommendation as to what investment strategy an external, well-diversified investor should follow. The strategic analysis concludes that Aker Solutions has a potential strategic advantage in the longer term, but faces strong challenges in the market in the short term. A fundamental valuation by a DCF approach is used as the ...
Xiao, Weilin; Zhang, Weiguo; Zhang, Xili; Chen, Xiaoyan
Motivated by the empirical evidence of long range dependence in short-term interest rates and considering the long maturities of equity warrants, we propose the fractional Vasicek model to describe the dynamics of the short rate in the pricing environment of equity warrants. Using the partial differential equation approach, we present a valuation model for equity warrants under the assumption that the short rate follows the fractional Vasicek process. After identifying the pricing model for equity warrants, we provide the parameter estimation procedure for the proposed pricing model. Since obtaining the values of equity warrants from the proposed model needs to solve a nonlinear equation, we employ a hybrid intelligent algorithm to get around this optimization problem. Furthermore, to illustrate the practicality of our proposed model, we conduct an empirical study to ascertain the performance of our proposed model using the data from China’s warrant market and the China Foreign Exchange Trade System. The comparison of traditional models (such as the Black-Scholes model, the Noreen-Wolfson model, the Lauterbach-Schultz model, and the Ukhov model) with our proposed model is also presented. The empirical results show that the mean absolute percentage error of our pricing model is 10.30%. By contrast, the Black-Scholes model, the Noreen-Wolfson model, the Lauterbach-Schultz model, and the Ukhov model applied to the same warrant produce mean absolute errors of 35.26%, 37.67%, 33.40%, 32.81%, respectively. Thus the long memory property in stochastic interest rates cannot be ignored in determining the valuation of equity warrants.
Simonsen, I.; Jensen, M. H.; Johansen, A.
In stochastic finance, one traditionally considers the return as a competitive measure of an asset, i.e., the profit generated by that asset after some fixed time span Δt, say one week or one year. This measures how well (or how bad) the asset performs over that given period of time. It has been established that the distribution of returns exhibits ``fat tails'' indicating that large returns occur more frequently than what is expected from standard Gaussian stochastic processes [1-3]. Instead of estimating this ``fat tail'' distribution of returns, we propose here an alternative approach, which is outlined by addressing the following question: What is the smallest time interval needed for an asset to cross a fixed return level of say 10%? For a particular asset, we refer to this time as the investment horizon and the corresponding distribution as the investment horizon distribution. This latter distribution complements that of returns and provides new and possibly crucial information for portfolio design and risk-management, as well as for pricing of more exotic options. By considering historical financial data, exemplified by the Dow Jones Industrial Average, we obtain a novel set of probability distributions for the investment horizons which can be used to estimate the optimal investment horizon for a stock or a future contract.
The current policy interest in early childhood education and care is driven by an investment narrative, a story of quality and high returns emerging from a dominant neoliberal political economy. This short note expresses deep reservations about this narrative, and hints at another narrative that foregrounds democracy, experimentation and…
This report on Sudan's Investment Climate Assessment (ICA) provides a baseline assessment of challenges to productivity, diversification and inclusion. Chapter 1 describes some of the questions underlying the three issues of competitiveness, diversification and broad-based growth. Chapter 2 analyzes firm performance and competitiveness. Chapter 3 discusses markets and trust. Chapter 4 des...
OECD Publishing, 2014
The series Investing in Youth builds on the expertise of the Organisation for Economic Cooperation and Development (OECD) on youth employment, social support and skills. It covers both OECD countries and countries in the process of accession to the OECD, as well as some emerging economies. This report provides a detailed diagnosis of the youth…
Van Baarle, D.
In order to guarantee the supply of energy considerable investment must be made to improve the infrastructure (e.g. capacity for LNG-transport and -storage) and ties with the natural gas supplier in the Russian Federation must be intensified [nl
Tosti, Donald T.; Amarant, John
People vary considerably in their work performance as well as their overall approach to work. At one extreme are the outstanding performers, who approach work with enthusiasm and energy, and, at the other extreme, are those who seem to do only what is necessary to get by. Organizatins often invest a good deal of energy in trying to improve the…
Full Text Available In this paper, a dynamic inflation-protected investment strategy is presented, which is based on traditional asset classes and Markov-switching models. Different stock market, as well as inflation regimes are identified, and within those regimes, the inflation hedging potential of stocks, bonds, real estate, commodities and gold are investigated. Within each regime, we determine optimal investment portfolios driven by the investment idea of protection from losses due to changing inflation if inflation is rising or high, but decoupling the performance from inflation if inflation is low. The results clearly indicate that these asset classes behave differently in different stock market and inflation regimes. Whereas in the long-run, we agree with the general opinion in the literature that stocks and bonds are a suitable hedge against inflation, we observe for short time horizons that the hedging potential of each asset class, especially of real estate and commodities, depend strongly on the state of the current market environment. Thus, our approach provides a possible explanation for different statements in the literature regarding the inflation hedging properties of these asset classes. A dynamic inflation-protected investment strategy is developed, which combines inflation protection and upside potential. This strategy outperforms standard buy-and-hold strategies, as well as the well-known 1 N -portfolio.
OECD Publishing, 2015
The series Investing in Youth builds on the expertise of the Organisation for Economic Cooperation and Development (OECD) on youth employment, social support and skills. It covers both OECD countries and countries in the process of accession to the OECD, as well as some emerging economies. This report provides a detailed diagnosis of the youth…
OECD Publishing, 2016
The series Investing in Youth builds on the expertise of the Organisation for Economic Cooperation and Development (OECD) on youth employment, social support and skills. It covers both OECD countries and countries in the process of accession to the OECD, as well as some emerging economies. The present report on Lithuania is the fourth of a new…
This paper examines the risk-return characteristics of investment grade gems (white diamonds, colored diamonds and other types of gems including sapphires, rubies, and emeralds). The transactions are coming from gem auctions and span the period 1999-2012. Over our time frame, the annual nominal USD
Assystem is a group of 60 contractor societies which ensures conception and dismantling of plants as well as a more complete valorization of industrial investment as controlling the production and information systems of the industries. Different examples of prestations proposed by Assystem are given. (O.L.). 3 figs
Kirchsteiger, Georg; Sebald, Alexander Christopher
groups with differing human capital and welfare levels. Depending on the parameters of the model, a temporary or permanent public investment into human capital formation is needed to overcome steady states with low human capital and welfare levels. Furthermore, even the best steady state is suboptimal...
Hansen, Jørgen Drud; Skak, Morten
the home through a supplementary investment. Ownership offers low costs of adaptation, but has high contract costs compared with renting. Consumers simultaneously decide housing demand and tenure, and because of the different cost structure only consumers with strong preferences for individual adaptation...
Hansen, Jørgen Drud; Skak, Morten
by adapting the home through a supplementary investment. Ownership offers low costs of adaptation, but has high contract costs compared with renting. Consumers simultaneously choose housing demand and tenure, and because of the different cost structure only consumers with strong preferences for individual...
Zhabynets Olga Yo.
Full Text Available The article studies investment strategy and efficiency of investment activity of European insurance companies. In particular, it analyses the share of investments of insurance companies of Europe in GDP, investment portfolio of European insurers and its structure, contribution of insurance companies – leaders of investment activity – into the European investment portfolio. It studies influence of the financial crisis upon investment strategy of European insurers and analyses efficiency of investment activity of European insurers in risk insurance and life insurance. The article proves that investment business models of insurance companies are capable of resisting crisis phenomena more efficiently than other financial institutions. It marks out that measures of insurance companies that are directed at increase of profitability of investments require from them both significant expenditures on creation of the system of investment risk management and open access to different categories of financial assets and markets, which influences the general risk level, taken upon by an insurance company. The author draws a conclusion that, taking into account recent developments, European insurers should focus on equity and investment risk management, finding new possibilities for their (investments growth and also adaptation of new systems and operations for solution of these important tasks.
Martha Isabel Riaño-Casallas
Full Text Available Introduction: There are several approaches and schools that support strategic management processes. University hospitals require the implementation of a strategic approach to their management, since they are a particular type of organization with the triple mission of providing health care, education and research. Objective: To propose a strategic profile for a university hospital. Materials and methods: The theoretical framework of strategic management was analyzed and some particular components of hospital management were studied; based on these criteria, the strategic management process in three high complexity hospitals of Bogotá, D.C. was examined and a profile of both the objectives and the functional strategies for the hospital was proposed. Results: The main strategic thinking schools are presented; the processes and components of strategic management are described, and a strategic management profile for a university hospital is proposed. Conclusion: The strategic orientation of management for an institution with the characteristics of a university hospital facilitates achieving organizational objectives.
Full Text Available An alternative investment is an investment product other than the traditional investments of stocks, bonds, cash, or property. The term is a relatively loose one and includes tangible assets such as art, wine, antiques, coins, or stamps and some financial assets such as commodities, hedge funds, venture capital,and others. At the moment it was created a global industry opportunities for making investments in nontraditional form. The aim of this paper consists in demonstrating the possibilities of these investments. For this have been studied related main international markets, a fter then deducted world dominant trends. This article is concerned to present some details of alternative investments global market.
The imperfect appropriability of revenues from innovation affects the incentives of firms to invest, and to disclose information about their innovative productivity. It creates a free-rider effect in the competition for the innovation that countervails the familiar business-stealing effect. Moreo...... appropriability and strategic disclosure for the firms’ profits and the probability of innovation.......The imperfect appropriability of revenues from innovation affects the incentives of firms to invest, and to disclose information about their innovative productivity. It creates a free-rider effect in the competition for the innovation that countervails the familiar business-stealing effect...
Leland, Robert W. [Sandia National Lab. (SNL-NM), Albuquerque, NM (United States)
I am pleased to present this summary of the Division 1000 Science and Technology Strategic Plan. This plan was created with considerable participation from all levels of management in Division 1000, and is intended to chart our course as we strive to contribute our very best in service of the greater Laboratory strategy. The plan is characterized by four strategic themes: Mission Engagement, Bold Outcomes, Collaborative Environment, and the Safety Imperative. Each theme is accompanied by a brief vision statement, several goals, and planned actions to support those goals throughout FY16. I want to be clear that this is not a strategy to be pursued in tension with the Laboratory strategic plan. Rather, it is intended to describe “how” we intend to show up for the “what” described in Sandia’s Strategic Plan. I welcome your feedback and look forward to our dialogue about these strategic themes. Please join me as we move forward to implement the plan in the coming year.
The social impact investment market is now global in scope and it is rapidly expanding in some ... of social impact investing to address environmental, social, and economic challenges. ... New project to improve water management in the Sahel.
Full Text Available In this paper, we shall pay attention to the security policy of the European Union, through the strategic culture, starting from the existing various options for cooperation in the field of security and defense. Our goal is to look at the implementation of the Strategic Culture of the European Union (EU SK, research ways to improve the international position of the Union and its impact on policy cooperation and trust with other collectives. Analysis of flexible cooperation between the European Union, as well as access to special procedures in the field of security and defense policy, we will follow the ambition and capacity in implementing the same. Paper aims to introduce the idea of the European Union, which allows its members to rationally consider and check the box of options available to decision makers. In this regard, the EU seeks to build its own armed forces to protect the association of interests-investment terms. Reviewing and understanding the strategic culture of the EU by countries that are not its members can be seen as reasons for strengthening the capacity of the Union for the realization of the impact of the global security as well as predicting its future steps.
A. M. Okorokov
Full Text Available Purpose. Making the qualitative administrative decisions defining strategy and tactics of transport cargo complexes development, and also its subsystems, is possible only in the presence of flexible optimization model. This model has to consider multiparametricity and multicriteriality of the given task, uncertainty and vagueness of input information, and also to provide process automation of searching the best parameters of the given production facility. The purpose of the research is to develop procedures for the strategic management of complex with view of the most important factors and their stochastic nature, which will execute the improvement of technical equipment of TCC. Methodology. The problem of strategic management is based on solving the complex of issues of the optimal number of shunting locomotives, optimal processing capability of handling the front and rational capacity of warehouses. The problem is solved on the basis of the proposed optimality criterion – the specific set of profit per unit of capital assets of freight industry. The listed problems are solved using simulation modeling of the freight industry. Findings. The use of developed procedure allows one to improve the technical equipment of the freight stations and complexes. Originality. For the first time it was developed the procedure of strategic management of development. This procedure allows taking into account the probabilistic nature of demand for services of transport freight complexes and technological processes of client services on the complex stations. The proposed procedure can be applied during when planning the investments in the creation of transport freight complexes. Practical value. Use as a basic tool of simulation models of complex cargo operation allows estimating the effectiveness of the capital investments, the level of operating costs, as well as the quality of meeting the demands of potential customers in transportations at the stage of
Full Text Available The objective of this research was to identify motivations presented as established by Chinese companies that perform foreign direct investment in Brazil, as well as the challenges encountered in this process and their future prospects. After a structured bibliography review of topics from foreign direct investment and Chinese investment in Latin America and Brazil, we conducted an empirical study on qualitative basis from the consultation to key informants, the methodological approach that has been used in international business studies that focus on containing China or with managers and / or Chinese managers as respondents. The procedures of data collection involved semi-structured interviews conducted, in person and by phone, in addition to questionnaires containing open questions, while processing the data followed the protocol of classical content analysis. The results of the empirical stage of the research highlight cultural and political issues that underlie strategic business decisions.
van Duuren, Emiel; Plantinga, Auke; Scholtens, Bert
We investigate how conventional asset managers account for environmental, social and governance factors (ESG) in their investment process. We do so on the basis of an international survey among fund managers. We find that many conventional managers integrate responsible investing in their investment
Larsen, Mette Vinther; Madsen, Charlotte Øland; Rasmussen, Jørgen Gulddahl
Strategy processes are kinds of wayfaring where different actors interpret a formally defined strat-egy differently. In the everyday practice of organizations strategizing takes place in multiple ways through narratives and sensible actions. This forms a meshwork of polyphonic ways to enact one...... and the same strategy. The paper focusses on such processes as they develop in a Danish service company. It is done on the basis of an empirical and longitudinal study of a strategy process in the Service Company where the strategic purpose was to implement value-based management. The theme to be developed...... based on this development paper is whether one can understand these diver-gent strategic wayfaring processes as constructive for organizations....
All managed care stakeholders--health plan members, employers, providers, community organizations, and government entitites--share a common interest in reducing healthcare costs while improving the quality of care health plan members receive. Although capitation is a usually thought of primarily as a payment mechanism, it can be a powerful tool providers and health plans can use to accomplish these strategic objectives and others, such as restoring and maintaining the health of plan members or improving a community's health status. For capitation to work effectively as a strategic tool, its use must be tied to a corporate agenda of partnering with stakeholders to achieve broader strategic goals. Health plans and providers must develop a partnership strategy in which each stakeholder has well-defined roles and responsibilities. The capitation structure must reinforce interdependence, shift focus from meeting organizational needs to meeting customer needs, and develop risk-driven care strategies.
Pasgaard, Jens Christian
the potential of ‘the extraordinary’ tourism-dominated space. As highlighted in the introduction, this report does not present any systematic analysis of strategic planning processes; neither does it provide any unequivocal conclusions. Rather, the report presents a collection of so-called ‘detours......The main purpose of this report is to explore and unfold the complexity of the tourism phenomenon in order to qualify the general discussion of tourism-related planning challenges. Throughout the report I aim to demonstrate the strategic potential of tourism in a wider sense and more specifically......’ – a collection of theoretical discussions and case studies with the aim to inspire future strategic planning. Due to the complexity and heterogeneity of the phenomenon I use a non-linear and non-chronological report format with the ambition to create a new type of overview. In this regard the report is intended...
The NASA Strategic Plan is a living document. It provides far-reaching goals and objectives to create stability for NASA's efforts. The Plan presents NASA's top-level strategy: it articulates what NASA does and for whom; it differentiates between ends and means; it states where NASA is going and what NASA intends to do to get there. This Plan is not a budget document, nor does it present priorities for current or future programs. Rather, it establishes a framework for shaping NASA's activities and developing a balanced set of priorities across the Agency. Such priorities will then be reflected in the NASA budget. The document includes vision, mission, and goals; external environment; conceptual framework; strategic enterprises (Mission to Planet Earth, aeronautics, human exploration and development of space, scientific research, space technology, and synergy); strategic functions (transportation to space, space communications, human resources, and physical resources); values and operating principles; implementing strategy; and senior management team concurrence.
Thunström, Linda; Nordström, Leif Jonas; Shogren, Jason F.
We examine strategic self-ignorance—the use of ignorance as an excuse to overindulge in pleasurable activities that may be harmful to one’s future self. Our model shows that guilt aversion provides a behavioral rationale for present-biased agents to avoid information about negative future impacts...... of such activities. We then confront our model with data from an experiment using prepared, restaurant-style meals — a good that is transparent in immediate pleasure (taste) but non-transparent in future harm (calories). Our results support the notion that strategic self-ignorance matters: nearly three of five...... subjects (58 percent) chose to ignore free information on calorie content, leading at-risk subjects to consume significantly more calories. We also find evidence consistent with our model on the determinants of strategic self-ignorance....
Thunström, Linda; Nordström, Leif Jonas; Shogren, Jason F.
We examine strategic self-ignorance—the use of ignorance as an excuse to over-indulge in pleasurable activities that may be harmful to one’s future self. Our model shows that guilt aversion provides a behavioral rationale for present-biased agents to avoid information about negative future impacts...... of such activities. We then confront our model with data from an experiment using prepared, restaurant-style meals—a good that is transparent in immediate pleasure (taste) but non-transparent in future harm (calories). Our results support the notion that strategic self-ignorance matters: nearly three of five...... subjects (58%) chose to ignore free information on calorie content, leading at-risk subjects to consume significantly more calories. We also find evidence consistent with our model on the determinants of strategic self-ignorance....
Full Text Available The present work aims to achieve an overall view of Foreign Direct Investment and International Trade in Canada, analyzing both the current situation and the actions and policies being implemented by several provinces to promote this subject. This study will be valuable to companies and governments to understand what has been done and to support strategic planning to invest and trade with Canada, especially for the Brazilian market.
Affuso, Luisa; Newbery, David M G
This Paper studies the interaction between repeated auctions of rail franchises of different lengths, uncertainty, and incentives for investment in rolling stock, following the privatization of British Rail. Theoretical predictions are tested empirically using a unique panel of data. Theory suggests that short franchise lengths reduce incentives to invest in specific assets. Our empirical results suggest that competition and strategic behaviour at the re-procurement stage can create incentive...
Emhjellen, M. [Petoro AS, Stavanger (Norway); Hausken, K. [University of Stavanger (Norway). Faculty of Social Sciences; Osmundsen, P. [University of Stavanger (Norway). Department of Industrial Economics, Section of Petroleum
Recent trends among major oil companies and independents have been consolidation through mergers and acquisitions and focus on key strategic core areas. The expressed goals have been to achieve synergy, reduce costs, and concentrate on areas with maximum expected value creation. This paper provides a model that endogenously determines the optimal numbers of projects to implement in an optimal number of areas. The decision of whether to invest in a project cannot be seen in isolation but must be linked with portfolio optimisation and the strategic core of the firm. Accounting for excess opportunity costs and monitoring costs, we demonstrate how financial volume, i.e., materiality, is decisive for companies' investment allocation decision and how implementing marginally profitable projects in low-tax areas may be part of an optimal solution. (author)
The value of information technology (IT) management for the petroleum industry was discussed. There are currently two points of view regarding the subject. Adherents of one view hold that the strategic uses of information technology are relevant to the oil and gas industry, while those opposed find no demonstrated connection between information technology investments and business results. This paper addresses the impact of the information paradox, but maintains that information technology is not only valuable but essential to the oil and gas industry. This paper maintains that whenever it is perceived as being of limited use and too expensive, it is usually because it is not well managed. Value management can and should lead to superior outcomes. Neither exploration, nor drilling nor production, nor marketing could exist without information technology as the value is imperative. To further make the case, the nature of information technology value management and the strategies required to achieve value from information technology are reviewed. figs
Parisi, Cristiana; Stang, Andreas
This paper analyzes the Scandinavian market for Socially Responsible Investing (SRI) mutual funds in order to determine the returns from discriminatory investment decision compared to the return from conventional portfolios. The analysis is conducted on 642 Scandinavian equity mutual funds...... counterparts. In the case of Norway no statistical difference in return is found when conducting the three factor regression. The Scandinavian market is considered particularly relevant for the interest of the investors in SRI mutual funds. However, to the authors’ knowledge, this is the first study to present....... The methodology adopts the Sharpe ratio to establish the risk return relationship. Moreover, the Capital Asset Pricing Model (CAPM) and the Fama and French Three Factor model are used to test the hypotheses. The results indicate the underperformance of Swedish and Danish SRI funds relative to their conventional...
Full Text Available Eline Picavet,1 David Cassiman,2 Steven Simoens1 1Department of Pharmaceutical and Pharmacological Sciences, KU Leuven, Leuven, Belgium; 2Department of Hepatology, University Hospital Leuven, Leuven, Belgium Abstract: Ultra-orphan medicinal products (ultra-OMPs are intended for the treatment, prevention, or diagnosis of ultra-rare diseases, ie, life-threatening or chronically debilitating diseases that affect less than one per 50,000 individuals. Recently, high prices for ultra-OMPs have given rise to debate on the sustainability and justification of these prices. The aim of this article is to review the international scientific literature on the pricing of ultra-OMPs and to provide an overview of the current knowledge on the drivers of ultra-OMP pricing. The pricing process of ultra-OMPs is a complex and nontransparent issue. Evidence in the literature seems to indicate that ultra-OMPs are priced according to rarity and what the manufacturer believes the market will bear. Additionally, there appears to be a trend between the price of an ultra-OMP and the number of available alternatives. Patients, third-party payers, and pharmaceutical companies could benefit from more transparent pricing strategies. With a view to containing health care costs, it is likely that cost-sharing strategies, such as performance-based risk sharing arrangements, will become increasingly more important. However, it is vital that any measures for price control are consistent with the intended goals of the incentives to promote the development of new OMPs. Ideally, a balance must be struck between attaining affordable prices for ultra-OMPs and securing a realistic return on investment for the pharmaceutical industry. Keywords: ultra-orphan medicinal product, ultra-rare disease, pricing
Investments in technology create a large amount of capital investments by major companies. Assessing such investment projects is identified as critical to the efficient assignment of resources. Viewing investment projects as real options, this paper expands a method for assessing technology investment decisions in the linkage existence of uncertainty and competition. It combines the game-theoretic models of strategic market interactions with a real options approach. Several key characteristics underlie the model. First, our study shows how investment strategies rely on competitive interactions. Under the force of competition, firms hurry to exercise their options early. The resulting "hurry equilibrium" destroys the option value of waiting and involves violent investment behavior. Second, we get best investment policies and critical investment entrances. This suggests that integrating will be unavoidable in some information product markets. The model creates some new intuitions into the forces that shape market behavior as noticed in the information technology industry. It can be used to specify best investment policies for technology innovations and adoptions, multistage R&D, and investment projects in information technology.
The integration of environmental considerations into strategic decision making is recognized as a key to achieving sustainability. In the European Union a draft directive on Strategic Environmental Assessment (SEA) is currently being reviewed by the member states. The nature of the proposed SEA...... that the SEA directive will influence the decision-making process positively and will help to promote improved environmental decisions. However, the guidelines for public participation are not sufficient and the democratic element is strongly limited. On the basis of these findings, recommendations relating...
to strategic decision making, Complex Strategic Choices presents a methodology which is further illustrated by a number of case studies and example applications. Dr. Techn. Steen Leleur has adapted previously established research based on feedback and input from various conferences, journals and students...... resulting in new material stemming from and focusing on practical application of a systemic approach. The outcome is a coherent and flexible approach named systemic planning. The inclusion of both the theoretical and practical aspects of systemic planning makes this book a key resource for researchers...
Rogers, Peter; Hurst, Christopher; Harshadeep, Nagaraja
In many parts of the developing world investment in water resources takes a large proportion of the available public investment funds. As the conflicts for funds between the water and other sectors become more severe, the traditional ways of analyzing and planning water investments has to move away from project-by-project (or even a river basin-by-river basin) approaches to include the relationships of water investments to other sectors and to overall national development policies. Current approaches to water resources investments are too narrow. There is a need for ways to expand the strategic thinking of water sector managers. This paper develops a water resources planning methodology with the primary objective of giving insights into the linking of water sector investments and macroeconomic policies. The model optimizes the present value of investments for water resources development, while embedding a macroeconomic model into the framework to allow for an examination of the interactions between water investments, the growth in the agricultural sector, and the performance of the overall economy. A case study of Bangladesh is presented which shows how strategic thinking could lead to widely differing implications for water investments than would conventional water resources systems planning models.
Full Text Available In this paper we have synthesized a part of legislative and conceptual elements linked to a new model of investors which is increasingly publicized in Romania, business angels. In the first part of the paper we have presented theoretical notions related to the concept of investments and to the importance of the investment decision at managerial level. Modern investments regarding, in particular, the launch of some products and services as well as the start-up of companies are dependent on the source of funding that can take many forms, one of them being that of business angels. Thus, the legislative framework in Romania represents an opportunity not only for those looking for sources of financing but also for investors seeking more flexible and more advantageous ways to place capital. Thus, at the end of the paper we have tried to reveal the main fiscal facilities from EU member countries in order to be studied by any business angel and the most important organizations offering information on the business angels’ portfolio.
Ms. Tatiana A. Ykovleva
Full Text Available The article discusses the features of investment risks and their causes, as well as provides a detailed classification of investment risks. The authors reveal the essence and content of the investment process, risk management, providing material for presentation in the form of a diagram. In conclusion, the article explains the use of the system of specialized institutions as a way to exclude the basic, or primary investment risk.
Smith, Michael C
Today's investors have many choices. From seemingly simple investments, such as stocks, bonds and cash, to more complicated option strategies, there is a dizzying array of investment vehicles that can leave even the most seasoned investor a bit confused. In discussions with our clients, one common thread is the desire to learn more about the various types of investments available. Following is a basic guide to the most common investments and the risks inherent in those choices.
Abdul Rahman, O.; Jaeger, J.; Constantinescu, C.
This paper presents the approach to combine two reference methods and engineering tools, for "Factory Performance and Investment Planning«as well as "Value Added Ideal Production Network Planning". The resulted synchronous method aims to support factories in the strategic planning as well as in the network planning. The corresponding engineering tool is employed for assessment planning, sales planning, capacity planning and production costs planning under the consideration of dynamic and stoc...
Larson, Donald W.; Mbowa, Swaibu
Strategic marketing issues and challenges face maize seed marketing firms as farmers increasingly adopt hybrid varieties in a modernizing third world country such as Uganda. The maize seed industry of Uganda has changed dramatically from a government owned, controlled, and operated industry to a competitive market oriented industry with substantial private firm investment and participation. The new maize seed industry is young, dynamic, growing and very competitive. The small maize seed marke...
Camino Blasco, David; Trecu, Juan Ramón
An emerging form of international business organization is the strategic alliance, a species of joint-venture in which an innovator of technology contracts with another firm for the joint exploitation of technology and other assets across a number of national territories. This work will examine international alliances, applying insights from both the transaction cost and foreign investment theories to the telecommunications service industry and asking whether these cooperation agreements are ...
Litos, D M
Strategic financial analysis, the financial information support system for the strategic planning process, provides information vital to maintaining a healthy bottom line. This article, the third in HCSM's series on the organizational components of strategic planning, reviews the role of the chief financial officer in determining which programs and services will best meet the future needs of the institution.
In his influential work, Strategy Safari, Henry Mintzberg and his colleagues presented ten schools of strategic thought. In this impressive book, Dany Jacobs demonstrates that the real world of strategic management is much wider and richer. In Mapping Strategic Diversity, Jacobs distinguishes
Since 1991 several fiscal regulations are in effect for businesses, energy companies and civilians to invest in environmental and renewable projects. Although those so-called 'green investment' options are a great success, there is another, less positive, side to that success. Characteristics, advantages and disadvantages of several fiscal tools to invest in renewable energy are briefly discussed
Ebbers, H.A.; Zhang, J.
China’s investments in the European Union are much lower than what you may expect given the economic size of both entities. These relatively low investments in Europe are a combination of priority and obstacles. The priority for investments is clearly in Asia, Africa and Latin America. This regional
This paper summarizes the content of Capgemini's 10. European Energy Markets Observatory (EEMO) report. The EEMO is an annual report that tracks the progress in establishing an open and competitive electricity and gas market in the 27 European countries, including Norway and Switzerland. This tenth edition is based on 2007 and winter 2007-2008 data sets. A 1 trillion euros infrastructure investment is required to build the plants, electrical lines and gas pipelines needed in Europe over the next 25 years. Although today's credit crunch could severely hurt the investment cycle, analysts also anticipate a difficult period for the European energy markets once the recession is over. The report said that Europe has yet to solve the related issues of responding to its energy demand, while curbing its carbon dioxide (CO 2 ) emissions. In 2007, even at a slower pace than previous years, analysts said European electricity consumption still increased by 0.9% and CO 2 emissions stabilized, instead of decreasing. Despite the mild weather, the electricity security of supply deteriorated, analysts said. The Union for the Coordination of Transmission of Electricity (UCTE) real margin - which takes into account non-usable and unavailable generation capacities - dropped from 7.6% in 2006 to 5.3% in 2007. Analysts said without a significant and vigorous investment program in electricity and gas infrastructures, Europe's energy supply security will be threatened. Since the low point in 2005, utilities started to invest again, but have made energy mix choices that are not moving toward a reduction in CO 2 emissions as the majority (58%) of the planned generation capacities will be fossil-fueled. In 2007, investments in renewable capacities grew fast, wind being the industry's preference, with an addition of 8.3 gigawatt (GW) renewables in Europe. However, analysts said this type of 'non-scheduable' source is not always available during peak hours. This partially explains the security
questionnaire to assess COPD symptoms and OSA risk, comorbidities, and performance of daily activities. Data from COPD cohorts with and without risk of OSA were analyzed and compared. Results: Of 6,600 interviews completed, 404 subjects fit the epidemiological case definition of COPD – an overall prevalence of 6.1% in this national sample. Data on OSA risk were available for 292 of this COPD cohort, of whom 29.5% were at risk of OSA. Compared to those without risk of OSA, those with risk of OSA were significantly more likely to have hypertension or cardiovascular disease and diabetes, had significantly higher body mass index and COPD Assessment Test scores, and reported impaired work performance and leisure activities. Conclusion: Among adults in Taiwan who fulfill epidemiologic criteria for COPD, 29.5% have coexisting risk of OSA. Comorbid hypertension or cardiovascular disease and diabetes are common and significantly more prevalent among the COPD population at risk of OSA than those who are not. OSA screening is warranted in patients with COPD with those risk factors that are more prevalent in COPD with risk of OSA than without, to target early interventions to reduce adverse cardiovascular sequelae from overlap syndrome. Keywords: cardiovascular risk, COPD, coexistent, obstructive sleep apnea, OSA, overlap syndrome
In this paper present relationship among strategic planning and managerial control process. For begin I want present few elements about strategic planning and managerial control in order to identify link inter these elements.
Baldwin, Robert F
... audience through unified action. The Quadrennial Defense Review Roadmap for Strategic Communications and the Department of Defense, Report of the Defense Science Board Task Force on Strategic Communication both concluded that the US...
S. Dhliwayo; J. J. Van Vuuren
Purpose: The aim of this paper is to demonstrate that strategic entrepreneurial thinking is a unitary concept which should be viewed as a standalone construct. Design/Methodology/Approach: The concept strategic entrepreneurial thinking is modelled from an analysis of strategic thinking and entrepreneurial thinking from available literature. The strategic entrepreneurial mindset imperative is then emphasised and confirmed. Findings: This paper's finding is that there is no diff...
Total Quality Leadership, 48 mtrategic direction, strategic intent , organizational planning, 11tinaiCMc MIisiing.mysteusth nking, gap analysis 17 1CUPMtlI...Department of the Nawy vision, guiding principles, and strategic goals. Washington, DC: Author. Hamel, G., & Prahalad , C. K. (May-June 1989). Strategic ...professoional oirgani/atioins. strategic planning. Adv;ice mInav also take .,V resouirces, perimt, thet [QI 0 )fice, the form of recoiln~inedatioins onl
Lehr, Thomas; Lorenz, Ullrich; Willert, Markus
-based efficacy and robustness. To facilitate the colla- borative strategizing in teams, we propose a matrix with robustness and efficacy as the two axes, which we call the Parmenides Matrix. We assess the impact of the novel approach by applying it in two cases, at a govern- mental agency (German Environmental...
Stokman, Frans N.; Assen, Marcel A.L.M. van; Knoop, Jelle van der; Oosten, Reinier C.H. van
This paper introduces a methodology for strategic intervention in collective decision making.The methodology is based on (1) a decomposition of the problem into a few main controversial issues, (2) systematic interviews of subject area specialists to obtain a specification of the decision
Welch, Mary A., Ed.
The steps for strategic market planning are discussed including: (1) assessing the situation with market conditions, customers, competitors, and your firm; and (2) crafting a strategy to prioritize target markets, develop a core strategy, and create a marketing mix. Examples of agribusiness successes are presented. The booklet concludes with a…
The merits of strategic planning as a marketing tool are discussed in this article which takes the view that although marketers claim to be future-oriented, they focus too little attention on long-term planning and forecasting. Strategic planning, as defined by these authors, usually encompasses periods of between five and twenty-five years and places less emphasis on the past as an absolute predictor of the future. It takes a more probabilistic view of the future than conventional marketing strategy and looks at the corporation as but one component interacting with the total environment. Inputs are examined in terms of environmental, social, political, technological and economic importance. Because of its futuristic orientation, an important tenant of strategic planning is the preparation of several alternative scenarios ranging from most to least likely. By planning for a wide-range of future market conditions, a corporation is more able to be flexible by anticipating the course of future events, and is less likely to become a captive reactor--as the authors believe is now the case. An example of strategic planning at General Elecric is cited.
Olesen, Peter Bjerg; Dukovska-Popovska, Iskra; Steger-Jensen, Kenn
This paper proposes a framework for strategic development of a port’s collaboration with its hinterland. The framework is based on literature relevant to port development and undertakes market perspective by considering import/export data relevant for the region of interest. The series of steps...
Schmeltz, Line; Kjeldsen, Anna Karina
This article presents a framework for understanding corporate name change as strategic communication. From a corporate branding perspective, the choice of a new name can be seen as a wish to stand out from a group of similar organizations. Conversely, from an institutional perspective, name change...
Mørch, Sven; Pultz, Sabina; Strøbæk, Pernille Solveig
perspective. Based on our data analysis, this study contributes theoretically by further-developing the concept of ‘strategic self-management’ in an educational context. We conclude that this concept is suitable for encapsulating how young people make sense of, and deal with, their educational biographies...
Distel, Andreas Philipp
This dissertation explores capabilities that enable firms to strategically adapt to environmental changes and preserve competitiveness over time – often referred to as dynamic capabilities. While dynamic capabilities being a popular research domain, too little is known about what these capabiliti...
This plan provides strategic direction to The Advisory Committee on Nuclear Waste (ACNW) in 1998 and beyond for focusing on issues most important to the NRC in carrying out its mission of protecting public health and safety, promoting the common defense and security, and protecting the environment
A. Galeotti; J.L. Moraga-Gonzalez (José Luis)
textabstractWe present a strategic game of pricing and targeted-advertising. Firms can simultaneously target price advertisements to different groups of customers, or to the entire market. Pure strategy equilibria do not exist and thus market segmentation cannot occur surely. Equilibria exhibit
Jasper, Melanie; Crossan, Frank
To discuss the theoretical concept of strategic management and explore its relevance for healthcare organisations and nursing management. Despite being a relatively new approach, the growth of strategic management within organisations has been consistently and increasingly promoted. However, comprehensive definitions are scarce and commonalities of interpretation are limited. This paper presents an exploratory discussion of the construct of strategic management, drawing on the literature and questioning its relevance within health-care organisations. Literature relating to strategic management across a number of fields was accessed, drawing primarily on meta-studies within management literature, to identify key concepts and attempt to present a consistent definition. The concept within health care is explored in relation to nursing management. Inconsistency in definitions and utilisation of key concepts within this management approach results in the term being loosely applied in health-care organisations without recourse to foundational principles and a deep understanding of the approach as a theory as opposed to an applied term. Nurse managers are increasingly asked to adopt the 'next-best-thing' in managerial theories, yet caution needs to be taken in nurses agreeing to use systems that lack an evidence base in terms of both efficacy and relevance of context. © 2012 Blackwell Publishing Ltd.
Lehr, Thomas; Lorenz, Ullrich; Willert, Markus
For over 40 years, scenarios have been promoted as a key technique for forming strategies in uncertain en- vironments. However, many challenges remain. In this article, we discuss a novel approach designed to increase the applicability of scenario-based strategizing in top management teams. Drawi...... Ministry) and a firm affected by disruptive change (Bosch, leading global supplier of technology and solutions)....
Strategic triggers and metrics help healthcare providers achieve financial success. Metrics help assess progress toward long-term goals. Triggers signal market changes requiring a change in strategy. All metrics may not move in concert. Organizations need to identify indicators, monitor performance.
This strategic plan provides the direction and focus required to successfully carry out our mandate in an efficient and effective manner over the next two to three years. It gives broad corporate direction by identifying where efforts need to be focussed, and therefore provides guidance for setting priorities and allocating resources. While we cannot ignore any aspect of our mandate, we must recognize that we will always have more work to do than can be accomplished within the resources available to us. Therefore we must set priorities and develop appropriate management systems to ensure that our major efforts and our resources are being directed towards those priorities. Our strategic plan is not a static document. We will always be faced with new challenges, and our strategies for meeting those challenges will also have to change. Therefore our strategic plan must be seen as a guide that reflects both the ever-changing environment and our ability to deal with new or evolving changes effectively. This plan is not intended to be a detailed operational plan. Each directorate must develop its own operational plans and procedures based on the directions in this strategic plan, and on corporate priorities and policies. (author)
Z. Sharif (Zara)
markdownabstractThree essays on strategic communication are discussed in this dissertation. These essays consider different settings in which a decision maker has to rely on another agent for information. In each essay, we analyze how much information the sender is able to credibly communicate to
WangYingluo; LiuYi; LiYuan
The strategic management of large projects is both theoretically and practically important. Some scholars have advanced flexible strategy theory in China. The difference of strategic flexibility and flexible strategy is pointed out. The supporting system and characteristics of flexible strategy are analyzed. The changes of flexible strategy and integration of strategic management are discussed.
@@ The international strategic situation and environment China faces have changed dramatically since September 11. China has closely followed and adapted itself to the ever-changing situation, seized strategic opportunity, adjusted its global strategy, adhered to peaceful development and displayed diplomacy and strategic flexibility. These are manifested in the following four aspects:
Conneely, James F.
Strong financial management is a strategy for strategic planning success in student affairs. It is crucial that student affairs professionals understand the necessity of linking their strategic planning with their financial management processes. An effective strategic planner needs strong financial management skills to implement the plan over…
The call to be strategic--and with it the concept of strategic management--can bring to mind a wide range of definitions, and there is now a huge array of academic literature supporting the different schools of thought. At a basic level, however, strategic thinking is probably most simply about focusing on the whole, rather than the part. In…
Ortega, Janet L.
The purpose of this study was to investigate the impacts of strategic partnerships between community colleges and key stakeholders; to specifically examine strategic partnerships; leadership decision-making; criteria to evaluate strategic partnerships that added value to the institution, value to the students, faculty, staff, and the local…
Strategic finance is aligning financial decisions--regarding revenues, creating and maintaining institutional assets, and using those assets--with the institution's mission and strategic plan. The concept known as "strategic finance" increasingly is being seen as a useful perspective for helping boards and presidents develop a sustainable…
Jansen, R.J.G.; Van Santen, Sarah
How do organizations make effective strategic decisions? In this study we build on research on the microfoundations of strategy and strategic decision-making to study the underpinnings of strategic decision effectiveness. We argue that the process-effectiveness link can be more fully understood if
Mouyal, Lone Wandahl; Mortensen, Bent Ole Gram; Su, Jingjing
-Government seeks to develop new business sectors and to attract foreign investment, including investments from China, to develop especially its mineral resources. China now is the second largest economy in the world and the outbound investments by Chinese companies presents unprecedented opportunities for both...... Chinese companies and their global partners. However, Chinese outbound investment faces many hurdles both at home and outside. This article analyzes some of the main aspects in relation to regulatory hurdles, political obstacles as well as environmental, labor and financial challenges primarily focusing...... on investments in the mining industry....
Allen Greb, G.; Johnson, Gerald W.
Following World War II, American scientists and politicians proposed in the Baruch plan a radical solution to the problem of nuclear weapons: to eliminate them forever under the auspices of an international nuclear development authority. The Soviets, who as yet did not possess the bomb, rejected this plan. Another approach suggested by Secretary of War Henry Stimson to negotiate directly with the Soviet Union was not accepted by the American leadership. These initial arms limitation failures both reflected and exacerbated the hostile political relationship of the superpowers in the 1950s and 1960s. Since 1969, the more modest focus of the Soviet-American arms control process has been on limiting the numbers and sizes of both defensive and offensive strategic systems. The format for this effort has been the Strategic Arms Limitatins Talks (Salt) and more recently the Strategic Arms Reduction Talks (START). Both sides came to these negotiations convinced that nuclear arsenals had grown so large that some for of mutual restraint was needed. Although the SALT/START process has been slow and ponderous, it has produced several concrete the agreements and collateral benefits. The 1972 ABM Treaty restricts the deployment of ballistic missile defense systems, the 1972 Interim Agreement places a quantitative freeze on each side's land based and sea based strategic launchers, and the as yet unratified 1979 SALT II Treaty sets numerical limits on all offensive strategic systems and sublimits on MIRVed systems. Collateral benefits include improved verification procedures, working definitions and counting rules, and permanent bureaucratic apparatus which enhance stability and increase the chances for achieving additional agreements.
Population investment is a major topic in the studies of population and economic relations. In this particular area, numerous theoretical and practical problems are still in need of solution. Concerning the problem of population concept, there are three different approaches: (1) to determine the definition of population investment from the relationship between the population growth and the capital from national income used for investment, including investment in the newly increased population and investment in the entire population; (2) to explain population investment from the economic viewpoint that people are producers; and (3) to explain population investment from the expense needed to change a simple labor force to a skillful labor force. The expenses include educational costs, maintanance spending, wages needed to compensate workers in labor, costs for workers to master and learn modern scientific techniques to be used for production, and the costs of keeping a young labor force in the next generation.
Full Text Available The subject of the research is the theoretical and methodological principles of the monitoring mechanism of investment development of regions’ infrastructure. The objectives of the research are the generalization of theoretical and methodological bases of monitoring mechanism of investment development of regions’ infrastructure, as well as analysis of the current trends of investment development of the infrastructure in the regions of Ukraine with the identification of positive and negative trends. Methodology. The article deals with theoretical and methodological approaches to the definition of conceptual foundations of the mechanism of monitoring the investment development of the regions’ infrastructure with the help of general scientific methods of analysis: systematization and generalization, induction, and deduction. Results. It is proposed to interpret a monitor of the investment development of the regional infrastructure (IDRI as a systematic and complex measurement of the indicators of regional infrastructure development, the number of implemented investment projects, monitoring compliance with the developed strategic regional programs and concepts, which will ultimately help to effectively and efficiently regulate the detected deviations and passing the appropriate decisions. The IDRI monitoring mechanism should also provide a possibility of creating a system for collecting and analysing data concerning the assessment of infrastructure objects by the territorial community, which will allow potential investors to focus not only on analytical data on monitoring of regional authorities but also to take into account the public interest in a particular region. The general principles of the monitoring mechanism of investment development of the regions infrastructure are proposed in the following directions: complex and system monitoring and data collection concerning the development of the regions’ infrastructure, while the aggregate
In view of the increasing requirements concerning availability and safety of power plants, their economical operation and the environmental protection and safeguarding of resources, the new process control system ''Teleperm XP'' for power plants has been developed. A modern and purposeful system architecture, together with the use of the most innovative standards of hardware and software, makes it possible to maintain the short innovation cycles in microelectronics, and thus to secure investments for the future during the entire lifetime of a power station. (orig.) [de
Full Text Available Investment professionals, particularly financial analysts or security analysts evaluate securities and try to determine characteristics of securities and to identify mispriced securities. For that purpose they use different models to estimate the intrinsic value of the common stocks. Traditional valuation models based on the present value of future cash flows are affected by estimated growth rate of the variable used and by the investor’s required rate of return. These models can be used for valuing fixed income securities, such as bonds and preferred stocks. However, in valuing companies with significant growth opportunities they have to expand traditional analysis with option valuation.
Mouneyrac, Aurélie; Lemercier, Céline; Le Floch, Valérie; Challet-Bouju, Gaëlle; Moreau, Axelle; Jacques, Christian; Giroux, Isabelle
Participation in strategic and non-strategic games is mostly explained in the literature by gender: men gamble on strategic games, while women gamble on non-strategic games. However, little is known about the underlying cognitive factors that could also distinguish strategic and non-strategic gamblers. We suggest that cognitive style and need for cognition also explain participation in gambling subtypes. From a dual-process perspective, cognitive style is the tendency to reject or accept the fast, automatic answer that comes immediately in response to a problem. Individuals that preferentially reject the automatic response use an analytic style, which suggest processing information in a slow way, with deep treatment. The intuitive style supposes a reliance on fast, automatic answers. The need for cognition provides a motivation to engage in effortful activities. One hundred and forty-nine gamblers (53 strategic and 96 non-strategic) answered the Cognitive Reflection Test, Need For Cognition Scale, and socio-demographic questions. A logistic regression was conducted to evaluate the influence of gender, cognitive style and need for cognition on participation in strategic and non-strategic games. Our results show that a model with both gender and cognitive variables is more accurate than a model with gender alone. Analytic (vs. intuitive) style, high (vs. low) need for cognition and being male (vs. female) are characteristics of strategic gamblers (vs. non-strategic gamblers). This study highlights the importance of considering the cognitive characteristics of strategic and non-strategic gamblers in order to develop preventive campaigns and treatments that fit the best profiles for gamblers.
Prusak, L; Cohen, D
Business runs better when people within a company have close ties and trust one another. But the relationships that make organizations work effectively are under assault for several reasons. Building such "social capital" is difficult in volatile times. Disruptive technologies spawn new markets daily, and organizations respond with constantly changing structures. The problem is worsened by the virtuality of many of today's workplaces, with employees working off-site or on their own. What's more, few managers know how to invest in such social capital. The authors describe how managers can help their organizations thrive by making effective investments in social capital. For instance, companies that value social capital demonstrate a commitment to retention as a way of limiting workplace volatility. The authors cite SAS's extensive efforts to signal to employees that it sees them as human beings, not just workers. Managers can build trust by showing trust themselves, as well as by rewarding trust and sending clear signals to employees. They can foster cooperation by giving employees a common sense of purpose through good strategic communication and inspirational leadership. Johnson & Johnson's well-known credo, which says the company's first responsibility is to the people who use its products, has helped the company in time of adversity, as in 1982 when cyanide in Tylenol capsules killed seven people. Other methods of fostering cooperation include rewarding the behavior with cash and establishing rules that get people into the habit of cooperating. Social capital, once a given in organizations, is now rare and endangered. By investing in it, companies will be better positioned to seize the opportunities in today's volatile, virtual business environment.
Full Text Available This paper analyzes the effects of investment in advertising in the three-stage entry game model with one incumbent and one potential entrant firm. It is shown that if a game theory is applied, under particular conditions, advertising can be used as a strategic weapon in the market entry game. Depending on the level of the advertising interaction factor, conditions for over-investment in advertising for strategic purposes are given. Furthermore, three specific cases are analyzed: strictly predatory advertising, informative advertising and the case when one firm’s advertising cannot directly influence the other firm's profit. For each of them, depending on the costs of advertising and marginal costs, equilibrium is determined, and conditions under which it is possible to deter the entry are given. It is shown that if the value of the advertising interaction factor increases, power of using advertising as a weapon to deter entry into the market decreases. Thus, in the case of informative advertising, advertising cannot be used as a tool for deterring entry into the market, while in the case of predatory advertising, it can. Also, we have proved that in the case of strictly informative advertising an over-investment never occurs, while in the two other cases, there is always over-investment either to deter or to accommodate the entry.
de Roon, F.A.; Veld, C.H.
This study investigates the announcement effects of offerings of convertible bond loans and warrant-bond loans using data for the Dutch market. Using standard event study methodology it is found that on average stock prices show a positive but insignificant abnormal return for the announcement of a
... Blindness Presumptive Disability and Blindness § 416.934 Impairments which may warrant a finding of presumptive disability or presumptive blindness. We may make findings of presumptive disability and... school, because of mental deficiency or is unable to attend any type of school (or if beyond school age...
Leus Daryna V.
Full Text Available The article analyses scientific and methodical approaches to portfolio investment. It develops recommendations on specification of the categorical apparatus of portfolio investment in the context of differentiation of strategic (direct and portfolio investments as alternative approaches to the conduct of investment activity. It identifies the composition and functions of objects and subjects of portfolio investment under conditions of globalisation of the world financial markets. It studies main postulates of the portfolio theory and justifies a necessity of identification of the place, role and functions of subjects of portfolio investment in them for ensuring sustainable development of the economy. It offers to specify, as one of the ways of further development of portfolio theories, a separate direction in the financial provision of economy with consideration of ecologic and social components – socio responsible investment.
Prescott, John E; Fresne, Julie A; Youngclaus, James A
The authors reflect on the article in this issue entitled "Borrow or Serve? An Economic Analysis of Options for Financing a Medical School Education" by Marcu and colleagues, which makes a compelling case that a medical school education is a good investment, no matter what financing option students use, from federal service programs to federal loans. The lead author of this Commentary shares lessons learned from his own medical school education, which was funded by an Armed Forces Health Professions Scholarship, and from his current position interacting with medical students across the United States.Regardless of the financing path they choose, all students should understand basic financial concepts and the details of the various pathways that are available to pay for their medical school education, as well as how each could potentially impact their own future and that of their families. One underappreciated aspect of financing a medical school education is that federal repayment scenarios can link loan payments to income, rather than debt levels, which means that all physicians are able to afford their loan payments no matter what specialty they practice, what they are paid, or where they live.Medical education, while expensive, remains the good investment. An MD degree can lead to a lifetime of personal fulfillment and societal contributions. Everyone, with rare exceptions, accepted to a U.S. medical school will be able to finance their medical education via a path that aligns with their personal values and priorities.
Full Text Available Offshore investment funds are alleged to have engaged in trading behavior that is different from their onshore counterparts because they may be subject to less supervision and regulation. In particular, they may trade more intensely. They could also pursue more aggressively certain trading strategies such as positive feedback trading or herding that could contribute to a greater volatility in the market. Using a unique data set, this chapter compares the trading behavior in the Korean stock market between offshore investment funds with their onshore counterparts registered in the US and UK. There are a number of interesting findings. First, there is indeed evidence suggesting that the offshore funds trade more intensely than their onshore counterparts. Second, however, there is no evidence that the offshore funds engage in positive feedback trading. In contrast, there is strong evidence that the funds from the U.S. and U.K. do. Third, while offshore funds do herd, they do so far less than onshore funds in the U.S. or UK. Fourth, offshore funds hold less glamour stocks (e.g. stocks with high P/E in their portfolio than funds in the U.S. or U.K. do. Moreover, flight to glamour stocks during the in-crisis period is less evident in the case of offshore funds. In sum, offshore funds are no especially worrisome monsters.
Syed Jawad Hussain Shahzad
Full Text Available This study is a multivariate analysis of commodities and stock investment in a newly established market scenario. Return distribution asymmetry is examined with higher order movements. Skewness in commodity future’s return is largely insignificant, whereas kurtosis is highly significant for both stock and commodity future contracts. Correlation analysis is done with Pearson’s and Kendall’s tau measures. Commodities provide significant diversification benefits when added in a portfolio of stocks. Compared with stocks, commodity future’s returns show stronger correlation with unexpected inflation. The volatility is measured through Glosten-Jagannathan-Runkle - Generalized Autoregressive Conditional Heteroskedasticity (GJR-GARCH model and reflects that commodities have inverted asymmetric behavior, that is, more impact from the upward shocks compared with downward. Stocks have asymmetric volatility, that is, more impact from negative shocks compared with positive. Gold has highest inverted asymmetric volatility. Tail dependence, measured through Student’s t copula, shows no combined downside movement. In conclusion, commodity investments provide diversification and inflation protection.
Chadwick, Clint; Way, Sean A.; Kerr, Gerry; Thacker, James W.
Although a few published, multiindustry, firm-level, empirical studies have linked systems of high-investment or high-performance human resource management practices to enhanced small-firm performance, this stream of strategic human resource management research is underdeveloped and equivocal. Accordingly, in this study, we use a sample of…
Johnston, J. Howard
Education is a top-priority funding area for corporate philanthropy, mostly because corporate leaders recognize that strategic investments in education can have long-term pay off for their companies as well as for students and schools. It is also one of the most visible and effective means for demonstrating a company's commitment to corporate…
Strategically conceived case management system implementation makes good patient care and business sense, CIOs agree. Significant financial savings can be achieved from case management IS implementations, if those implementations are executed in the context of partnership between clinical leaders and the CIO's team. CIOs agree that applying the concept of "investment" to the implementation of case management IT can make resource allocation decisions easier.
Full Text Available Sustainable economic development has become an important area of concern due to climatic change with its long term effects. Climatic change has posed several challenges for economic sustainability of economies. Now major development projects have to comply with international environmental norms. Failure to do so may result in the delay of a project, fines including penalties for environmental damage or charges for remedial action, that affect the viability of a project or the value of any security taken. This paper investigates with help of secondary date using descriptive statistical technique opportunities and challenges of green investment. Here it is developed into suitable model for developing economies for successfully adopting green investment without much cost to their economies. The paper concludes that green investment involving direct investment and portfolio investment in firms adopting and following environmental protection norms will lead to sustainable growth and investment for economy.
Juan Manuel Gil Barragán
Full Text Available This document has as main objective to discuss the dual role that China is playing in Latin America, on one hand, a strategic trade partner in Asia, source of foreign direct investment (FDI and key ally in the international arena, on the other hand, China is a formidable competitor particularly in the manufacturing sector. To reach the main objective, we make a brief description of the international trade relation between China and Latin America for the last 15 years, also, a review of the investment flows in different economic sectors, and lastly, a description of the political and diplomatic relation between Latin America and China. From this, it can be inferred that the bilateral relation is prominently framed by the trade of commodities from Latin America to China and the Chinese investment in the sourcing of natural resources.
David Orlando Ruiz Castro
Full Text Available Direct foreign investment is one of the most important economic variables in the world. Aspects related to international investment agreements are reaching an outstanding place in economic international diplomacy. Nowadays, in the multilateral level there is not an agreement regarding investment and therefore this study is focused on this particular type of agreement. In order to reach this objective this study shows, first of all, how different attempts have been developed to get a multicultural a agreement regarding investment, and to refuse the general opinion that says that exponential growth of foreign investment flows in recent years has given impulse to launch a multilateral investment agreement. Secondly, this study discusses about regulations related to foreign investment under current WTO regulations, such as investment, measure agreements, and service agreement. Then, it analyzes what has happened inside the WTO from the creation of the investment team at the Singapore Conference to the failed Conference in Cancun. Finally, it analyzes the main arguments against the multilateral agreement and the effects of future possible multilateral negotiations in investment and it ends with some recommendations and conclusions.
Thomas J. Mills; Gary E. Dixon
A sample of 231 independent timber investments were ranked by internal rate of return, present net worth per acre and the benefit cost ratioâthe last two discounted by 3, 6.4. 7.5. and 10 percentâto determine if the different criteria had a practical influence on timber investment ranking. The samples in this study were drawn from a group of timber investments...
Jović Mile B.
Full Text Available Paper discussed relationships of innovation to achieving strategic competitiveness in today globalized economic environment. Special attention is devoted to the nature of competitive advantages on global industries as well national level. Competitive advantage is a firm's ability to transform inputs into goods and services at a profit on a sustained basis, better than competitors. Comparative advantage resides in the factor endowments and created endowments of particular regions. Beside the traditional endowment approach (land, natural resources, labor and the size of the local population it is emphasized the importance of created one such as skilled labor, the technology and knowledge base, government support and culture. Creating corporate or country competitiveness roadmap there are no substantial difference - innovative as well strategic approach is essential.
Full Text Available In knowledge-based economy, strategic innovation portfolio management becomes more and more important and critical factor of enterprise's success. Value creation for all the participants in value chain is more successful if it is based on efficient resource allocation and improvement of innovation performances. Numerous researches have shown that companies with best position on the market found their competitiveness on efficient development and exploitation of innovations. In decision making process, enterprise's management is constantly faced with challenge to allocate resources and capabilities as efficiently as possible, in both short and long term. In this paper authors present preliminary results of realized empirical research related to strategic innovation portfolio management in ten chosen enterprises in Serbia. The structure of the paper includes the following parts: theoretical background, explanation of research purpose and methodology, discussion of the results and concluding remarks, including limitations and directions for further research.
Full Text Available Marketing is a philosophy that leads to the process by which organizations, groups and individuals obtain what they need and want by identifying value, providing it, communicating it and delivering it to others. The core concepts of marketing are customers needs, wants and values; products, exchange, communications and relationships. Marketing is strategically concerned with the direction and scope of the long-term activities performed by the organization to obtain a competitive advantage. The organization applies its resources within a changing environment to satisfy customer needs while meeting stakeholder expectations. Implied in this view of strategic marketing is the requirement to develop a strategy to cope with competitors, identify market opportunities, develop and commercialize new products and services, allocate resources among marketing activities and design an appropriate organizational structure to ensure the perform once desired is achieved.
In this article I argue, and exemplify, that designers working in close relation with industry, can have significant influence on the nature and the quality of the products (or services) produced by the companies. In order to achieve this, the designer must become one of the decisive factors...... in the strategic framework of the company. This is done by taking the design process to the business floor of the company and using the design competence to innovate, not only products, but the fundamental concepts for product selection. Using design as a strategic tool will cause entirely new products to emerge...... and will make entire groups of products change into services. In this way new markets will appear to benefit the innovative companies, and if designers do their job well, the focus will be on the users, and thereby benefiting them as well. An example of this process is Novo Nordisk. This pharmaceutical company...
Widergren, Steven E.; Knight, Mark R.; Melton, Ronald B.; Narang, David; Martin, Maurice; Nordman, Bruce; Khandekar, Aditya; Hardy, Keith S.
The Interoperability Strategic Vision whitepaper aims to promote a common understanding of the meaning and characteristics of interoperability and to provide a strategy to advance the state of interoperability as applied to integration challenges facing grid modernization. This includes addressing the quality of integrating devices and systems and the discipline to improve the process of successfully integrating these components as business models and information technology improve over time. The strategic vision for interoperability described in this document applies throughout the electric energy generation, delivery, and end-use supply chain. Its scope includes interactive technologies and business processes from bulk energy levels to lower voltage level equipment and the millions of appliances that are becoming equipped with processing power and communication interfaces. A transformational aspect of a vision for interoperability in the future electric system is the coordinated operation of intelligent devices and systems at the edges of grid infrastructure. This challenge offers an example for addressing interoperability concerns throughout the electric system.
... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Investment rates. 301.4 Section... ELIGIBILITY, INVESTMENT RATE AND PROPOSAL AND APPLICATION REQUIREMENTS Investment Rates and Matching Share Requirements § 301.4 Investment rates. (a) Minimum Investment Rate. There is no minimum Investment Rate for a...
Stokman, Frans N.; Assen, Marcel A.L.M. van; Knoop, Jelle van der; Oosten, Reinier C.H. van
This paper introduces a methodology for strategic intervention in collective decision making.The methodology is based on (1) a decomposition of the problem into a few main controversial issues, (2) systematic interviews of subject area specialists to obtain a specification of the decision setting,consisting of a list of stakeholders with their capabilities, positions, and salience on each of the issues; (3) computer simulation. The computer simulation models incorporate only the main processe...
Mikhail Golosov; Vasiliki Skreta; Aleh Tsyvinski; Andrea Wilson
This paper studies strategic information transmission in a dynamic environment where, each period, a privately informed expert sends a message and a decision maker takes an action. Our main result is that, in contrast to a static environment, full information revelation is possible. The gradual revelation of information and the eventual full revelation is supported by the dynamic rewards and punishments. The construction of a fully revealing equilibrium relies on two key features. The first f...
Andrea Galeotti; Jose Luis Moraga
textabstractWe present a strategic game of pricing and targeted-advertising. Firms can simultaneously target price advertisements to different groups of customers, or to the entire market. Pure strategy equilibria do not exist and thus market segmentation cannot occur surely. Equilibria exhibit random advertising --to induce an unequal distribution of information in the market-- and random pricing --to obtain profits from badly informed buyers--. We characterize a positive profits equilibrium...
Silvia Muhcina; Brailoiu Liviu
Tourism is a very dynamic economic sector because is very depended of environmental changes, especially now, when the global economy pass through successive crises. For the competitive organizations, the success means to transform their specific activity in a more market oriented business. The objectives of any organization must be fixed going from a better understanding of the markets. Strategic marketing means to know and analyze the consumers’ needs and the market which organization refers...
Planer-Friedrich, Lisa; Sahm, Marco
We examine the strategic use of Corporate Social Responsibility (CSR) in imperfectly competitive markets. The level of CSR determines the weight a firm puts on consumer surplus in its objective function before it decides upon supply. First, we consider symmetric Cournot competition and show that the endogenous level of CSR is positive for any given number of firms. However, positive CSR levels imply smaller equilibrium profits. Second, we find that an incumbent monopolist can use CSR as an en...
Viala, Eva Silberschmidt
to provide new insights into ‘immigrant’ parents’ perspective on home/school partnership in Denmark. The majority of the immigrant parents came from non-Western countries, and they had already been ‘labelled’ difficult in terms of home/school partnership. This calls for what I call ‘strategic research...... positioning’, meaning critical reflections about the relationship and power balance between the researcher and the researched. The paper focus' on challenges and dilemmas linked to this position....
Sax, Johanna; Andersen, Torben Juul
Enterprise risk management (ERM) is an established management practice and is increasing in prominence as more firms spend substantial resources implementing ERM frameworks, partially induced by regulatory requirements. Yet, there is a lack of knowledge as to whether such frameworks add value and...... outcomes. The study develops a new multidimensional measure of adherence to ERM practices where earlier studies typically have relied on dichotomous proxies. We discuss the implications of these findings for ERM practice and strategic management in general....
Smith, Pamela C
Strategic tax planning issues are important to the nonprofit health care sector, despite its philanthropic mission. The consolidation of the industry has led management to fight for resources and develop alternative strategies for raising money. When management evaluates alternative collaborative structures to increase efficiency, the impact on governance structures must also be considered. The increased governmental scrutiny of joint ventures within the health care sector warrants management's attention as well. The financial incentives must be considered, along with the various tax policy implications of cross-sector collaborations.
Lin, Sheng-Hau; Li, Jia-Hsun; Hsu, Chih-Chen; Hsieh, Jing-Chzi; Liao, Pin-Chao
This study utilizes consolidation investment theory to incorporate with business strategies and government subsidy to develop a strategic exercise of options model. This empirical investigation examines the ground source heat pump (GSHP) government subsidy program, which is part of China’s 12th Five Year Plan. The developed model is applied to explain the behaviours of business investment with regard to strategic investment timing, option values, and the influence of government subsidies in duopolistic real-world investment decisions. The results indicate that subsidy policy can reduce the differences of investment timing among GSHP investors and has clearly evidenced the positive benefit–cost ratio of government subsidy, which facilitates China’s GSHP industry development.
Fedorov, Maksim; Matys, Elena; Kopytova, Anna
Outlined the main trends in the development of the construction sector in the Russian Federation at the present stage of its development are identified problems and shortcomings of current investment in the construction industry. It is proved that to consider the investment and construction process should be in terms of the strategic and tactical aspects. It was established that, on the basis of the spirit and the participants of investment and construction process, the strategic aspect it should be focused primarily on the formation of financial resources (through various mechanisms) and to attract investors. A tactical aspect of the investment and construction process is focused on the choice of organizational form of the project and the rational use of resources generated by the investment in construction.
The work of Weiss in the 1930s, particularly with Haber, has only recently been recognized to have implications in biology and medicine. Similarly, research in radiation chemistry and the application of the pulse radiolysis technique, for example, have implications far beyond traditional radiation chemistry. Some examples of such research are discussed against a background of categorization into 'basic', 'strategic' or 'tactical' science. Examples discussed include redox properties of free radicals, and the identification and characterization of nitro radicals as intermediates in drug metabolism. Radical reactions often take place in multicomponent systems, and the techniques of radiation chemistry can be used to probe, for example, events occurring at interfaces in micelles. Industrial processes involving radiation are attracting investment, particularly in Japan. (author)
So as to prepare the future of their industrial sector,the Total company plans to invest (14 billion Euros in 2008) to increase its production capacities and strengthen in of other activities as the liquefied natural gas and the renewable energies; EDF plans to inject 35 billion Euros over three years to multiply the new projects of power plants (wind turbines, coal in Germany, gas in Great Britain and nuclear power in Flamanville). EDF wants to exploit its knowledge of leader to run more than ten E.P.R.(European pressurized water reactor) in the world before 2020, projects are in examination with China, Great Britain, South Africa and United States. (N.C.)
The power consumption in the common Nordic power market continues to grow. All potential production technologies entail more or less reduction in quality of the environment. This gives each of the Nordic countries incentives to limit the development of capacity and base themselves increasingly on import, which means that other countries take the political burden with the environmental issues (''free rider problem''). The uncertainty about the climate problem may make it rational to postpone investments which are expensive to reverse, like gas power. If the decisions are delayed too long, however, considerable socio-economic costs may accumulate because the price of electricity becomes too high. The present regulations of the environmental concerns in connection with the granting of concession are expensive and unpredictable and put society unnecessarily to expense
Antonella Del Rosso
In addition to well-established working principles based on conservative and capital preservation oriented investments that ensure it a sustainable future, the CERN Pension Fund recently introduced a new criterion for selecting the numerous opportunities that the market offers: philanthropy. Its first initiative, which also involves the Staff Association’s Long-Term Collection, will help support two orphanages in China. The two charities are located near Beijing. Beijing’s “China Children Charity and Foundation” is an orphanage that cares for up to 80 babies who need surgery to correct birth defects. The other, “Hope Healing Home”, is an organization that deals with 300 babies and cares for sick and physically disabled babies who have been abandoned. All these babies are awaiting treatment and a medical solution. The CERN Pension Fund has over 6700 members. To ensure the greatest efficiency and profitability, the Fund’s por...
Arenas, Ismael Enrique
Geologically speaking, Colombia is a very attractive country for the world oil community. According to this philosophy new and important steps are being taken to reinforce the oil sector: Expansion of the exploratory frontier by including a larger number of sedimentary areas, and the adoption of innovative contracting instruments. Colombia has to offer, Greater economic incentives for the exploration of new areas to expand the exploratory frontier, stimulation of exploration in areas with prospectivity for small fields. Companies may offer Ecopetrol a participation in production over and above royalties, without it's participating in the investments and costs of these fields, more favorable conditions for natural gas seeking projects, in comparison with those governing the terms for oil
Smith, Ron P.; Zoega, Gylfi
In Keynes' General Theory, investment determines effective demand, which determines unemployment and the labour market plays a negligible role. In New Keynesian models, labour market institutions determine the natural rate of unemployment and the speed at which unemployment adjusts to it. Investment is mostly ignored as a key variable behind the problem of high unemployment, despite a strong empirical association between investment and unemployment. We discuss the evolution of the 'Keynesian'...
Minodora Ioana Rusu
Full Text Available The illegal deprivation of liberty is, under the current context, one of the most serious offenses, being treated differently in the European Union. The need to prevent and combat this violation, it has led the European legislator to include it under different names in the European legislative act that governs the institution of the European arrest warrant. In this context, the European arrest warrant is the most important form of judicial cooperation in penal matters between the Member States of the EU, which is based on mutualrecognition of criminal judgments. The research conducted on how it is regulated the enforcement of the European arrest warrant in the case of illegal liberty deprivation in the European legislative act (the Framework Decision 2002/584/JHA leads to the conclusion that the legislature failed to mention the violation in question in the group of the violation for which it was not necessary the inspection of the double incrimination, but, still, including the offenses as kidnapping, illegal restraint and hostage-taking. Even if theRomanian legislator included this violation in the above mentioned group, this situation is not solved, because it will cause some problems in the request by the Romanian judicial authorities of the enforcement of such warrant. Another criticized issue, observed not only in the European legislative act, but also in the internal law, is related to the lack of stipulations, which can lead to the possibility of issuing and executing a European arrest warrant and for the execution of educational measures for illegal deprivation of liberty and also others. Also, in order to increase the effectiveness of the execution of a European arrest warrant, we consider that it should be granted executive powers of all courts of Romania. The originality of the work consists of the critical observations and the lege ferenda proposal which covers both the European legislativeact and the Romanian Law. At the same time
Eyraud, Luc; Clements, Benedict; Wane, Abdoul
This paper fills a gap in the macroeconomic literature on renewable sources of energy. It offers a definition of green investment and analyzes the trends and determinants of this investment over the last decade for 35 advanced and emerging countries. We use a new multi-country historical dataset and find that green investment has become a key driver of the energy sector and that its rapid growth is now mostly driven by China. Our econometric results suggest that green investment is boosted by economic growth, a sound financial system conducive to low interest rates, and high fuel prices. We also find that some policy interventions, such as the introduction of carbon pricing schemes or “feed-in-tariffs,” which require use of “green” energy, have a positive and significant impact on green investment. Other interventions, such as biofuel support, do not appear to be associated with higher green investment. - Highlights: • We offer a definition of green investment and review its trend since 2000. • We analyze its determinants from both theoretical and empirical perspectives. • Green investment is boosted by economic growth, interest rates, and fuel prices. • Feed-in-tariffs and carbon pricing schemes impact positively green investment
Full Text Available While Canadian trade and investment with China is today relatively modest, with China well on track to displace the United States as the world’s largest economy, Canada must make it a priority to prepare for a future characterized by dramatically increased trade and investment between our two countries. This paper sheds light on some the issues and measures Canadian governments will have to consider as they look to establish safe and prosperous relationships with China. To begin with, Canadians choosing to invest in China must be prepared for the risk inherent in that country’s peculiar “capitalism with socialist characteristics.” The Chinese state continues to play an interventionist role in many significant sectors in the economy, and the strategy behind China’s overseas investment in countries such as Canada is specifically aimed at furthering China’s own national security goals and geopolitical influence. Canadians wishing to do business in China will also require great cultural competency. The cultural institution known as guanxi — in which gifts to sway influence are considered an acceptable, even desirable practice — persists in China, with even native Chinese unclear on where to draw the line between “good” guanxi and “bad” corruption. At home, Canadians may soon be forced to confront questions about how much of our own land security and natural resource security we are willing to compromise by permitting Chinese investment to gather up our farmland and key industries. Canadians should decide sooner, not later, how well our own strategic interests are served by permitting unrestricted Chinese investment in our economy. In anticipation of these issues, Canada’s federal and provincial governments should provide increased support for a more comprehensive training and research infrastructure that better prepares Canadians for the growing bilateral trade between our countries. They should also reinvest in the
Bogomolova Irina Viktorovna
Full Text Available Since the 90s, the ideas on territorial strategic planning have been progressively disseminated in Russia. A growing number of cities, regions and macroregions recognized the urgency of finding their individual path of development which would ensure the successful implementation of strategic plans. The author of the article distinguishes four stages of formation and development of territorial strategic planning in modern Russia on the basis of retrospective analysis. The special attention is paid to the contemporary period which started after the adoption of the Federal Law of June 28, 2014 no. 172 “On strategic planning in the Russian Federation” regulating the activity of federal, regional and municipal authorities in the field of strategic planning and management. For the first time in more than 20 years the common requirements to the system of strategic planning were established in Russia at the level of the legislative act. The strategic planning is officially recognized as the most important element in the system of strategic management contributing to the creation of conditions for sustainable territorial development. The author grounds the expediency and proves the necessity of legislative adoption of norms and principles of the strategic planning. The municipal level as an equal member of the strategic planning process is included in the system of strategic planning. In accordance with the adopted law, the strategies for socioeconomic development of the territory of the RF subject can be worked out in the region (for example, for several municipalities. It is necessary to develop specific goals, objectives and directions of development for each territory. This creates the conditions for planning the development of metropolitan areas as the territories of advanced development, as well as large intermunicipal investment projects and programs. On the basis of experience of strategic planning in Volgograd, the author makes constructive
de Graaf, F.J.; Slager, A.
Socially Responsible Investment (SRI) is of growing importance for institutional investors. Our analysis shows that SRI strategies can be grouped in ethically-based, investment-driven and value-ensuring objectives. We demonstrate that this categorization strengthens decisionmaking in SRI. Based on
.... It addresses the purpose, developmental process, content, and implementation of a strategic communication plan offering specific recommendations for the creation and effective use of a successful plan...
Ze, Tian; Yumei, Fan; Chao, Liu
In recent years, with implementation and propulsion of the strategic planning "One Belt and One Road" of China, quality and efficiency of China's foreign direct investment have increasingly become a focused issue. This paper utilizes the DEA model and Malmquist index method to select the data of China's investment in 20 countries of Africa and conducts the empirical research on dynamic evaluation of efficiency of China's direct investment in Africa. The result shows that the general efficienc...
Bernhart, Michael H.
Formal strategic planning and management appear to contribute to organizational effectiveness. The author surveys the literature on strategic management in private/for-profit organizations and applies lessons from that literature to population programs. Few would argue that population programs would not benefit from strategic planning and management, but it would be inadvisable to initiate the process when the organization is faced with a short-term crisis; during or immediately before a chan...
Bohlmann, R C
The first generation of mergers and managed care hasn't slowed down group practices' need for strategic planning. Even groups that already went through one merger are asking about new mergers or ownership possibilities, the future of managed care, performance standards and physician unhappiness. Strategic planning, including consideration of bench-marking, production of ancillary services and physician involvement, can help. Even if only a short, general look at the future, strategic planning shows the proactive leadership needed in today's environment.
Bacchiega, Emanuele; Randon, Emanuela; Zirulia, Lorenzo
We analyze the effect of competition in market-accessibility enhancement among quality-differentiated firms. Firms are located in regions with different ex-ante transport costs to reach the final market. We characterize the equilibrium of the two-stage game in which firms first invest to improve market accessibility and then compete in prices. Efforts in accessibility improvement crucially depend on the interplay between the willingness to pay for the quality premium of the median consumer an...
... efficiencies and better coordination of U.S. Government communications investments to combat terrorism and... communication tools designed to counter violent extremism and terrorism that threaten the interests and national... Order 13584 of September 9, 2011 Developing an Integrated Strategic Counterterrorism Communications...
Dominguez-Martinez, S.; Sloof, R.; von Siemens, F.
In this laboratory experiment we study the use of strategic ignorance to delegate real authority within a firm. A worker can gather information on investment projects, while a manager makes the implementation decision. The manager can monitor the worker. This allows her to better exploit the
Dominguez-Martinez, S.; Sloof, R.; von Siemens, F.
In this laboratory experiment we study the use of strategic ignorance to delegate real authority within a firm. A worker can gather information on investment projects, while a manager makes the implementation decision. The manager can monitor the worker. This allows her to exploit any information
the increase of Chinese investment in Europe. This paper aims to analyze trade flows betweenChina and the EU member states in Central and Eastern Europe in the framework of the EU-Chinatrade partnership and how these countries can be considered a strategic partner in EU-Chinatrade relations.
L.C.P.M. Meijs (Lucas)
textabstractPhilanthropic organizations have recently started to focus on how to invest their resources in a way that will really make a difference to society. Strategic philanthropy is the new concept for voluntary action for the public good to create a valuable sustainable impact! This inaugural
Topics discussed in this paper dealing with the current investment climate for midstream gas processing assets include: (1) strategic reasons to retain or divest midstream assets, (2) available options for midstream asset divestment, (3) midstream market fundamentals, and (4) financial performance of midstream companies. There are some 700 gas plants in Alberta at present, of which about 20 per cent are owned by midstream companies . About one half of the plants are smaller than 12.5 MMCFD which represent inefficient use of resources; a clear indication that there are substantial opportunities for consolidation. 1 tab., 4 figs
Strategic management is concerned with strategic choices and strategic implementation; it provides the means by which organizations meet their objectives. In the case of hospitals it helps executives and all employees to understand the real purpose and long term goals of the hospital. Also, it helps the hospital find its place in the health care service provision chain, and enables the hospital to coordinate its activities with other organizations in the health care system. Strategic management is a tool, rather than a solution, that helps executives to identify root causes of major problems in the hospital.
X. Li (Xishu); R.A. Zuidwijk (Rob); M.B.M. de Koster (René); R. Dekker (Rommert)
textabstractWe consider a long-term capacity investment problem in a competitive market under demand uncertainty. Two firms move sequentially in the competition and a firm’s capacity decision interacts with the other firm’s current and future capacity. Throughout the investment race, a firm can
Glasmeier, Amy; Glickman, Norman
Through 1987, 10 percent of foreign investment was in nonmetro counties; 44 percent of this was in the South; and 38 percent of nonmetro foreign investment created new jobs (versus 17 percent in metro areas). Foreign investors chose nonmetro areas with low wages, lack of unionization history, good transportation access, and government incentives.…
Baarsma, B.; Poort, J.P.; Teulings, C.N.; de Nooij, M.
The Lisbon Strategy demands large investments in transport projects, broadband networks and energy infrastructure. Despite the widely-acknowledged need for investments in new infrastructures, European and national public funds are scarce in the current economic climate. Moreover, both policy-makers
Jessen, Pernille; Jørgensen, Peter Løchte
The paper examines the role of structured bonds in the optimal portfolio of a small retail investor. We consider the typical structured bond essentially repacking an exotic option and a zero coupon bond, i.e. an investment with portfolio insurance. The optimal portfolio is found when the investment...
Investment opportunities with Yacimientos Petroliferos Fiscales Bolivianos (LPFB) in La Paz, Bolivia, were discussed, especially as they may be affected by the new Hydrocarbon Law No. 1689, whose main objective is to encourage investments in Bolivia and to increase production capacity through investors' incorporation. Some of the areas of potential importance examined included reserve development, transportation, upstream consulting, and hydrocarbon development
@@ In the context of the financial crisis,international capital flows,cross-border investment,as well as the mergers and acquisitions generally continues shrinking at a large range in 2009,while China's foreign investment and overseas cooperation still maintains a good momentum of development.
Schilling, Ronald B.
We have now analyzed the use and benefits of four Strategic Thinking Tools for Radiology: the Vision Statement, the High Five, the Two-by-Two, and Real-Win-Worth. Additional tools will be provided during the tutorial. The tools provided above should be considered as examples. They all contain the 10 benefits outlined earlier to varying degrees. It is extremely important that the tools be used in a manner consistent with the Vision Statement of the organization. The specific situation, the eff...
The increase of bundle supply has become widespread in several sectors (for instance in telecommunications and energy fields). This paper review relates strategic aspects of bundling. The main purpose of this paper is to analyze profitability of bundling strategies according to the degree of competition and the characteristics of goods. Moreover, bundling can be used as price discrimination tool, screening device or entry barriers. In monopoly case bundling strategy is efficient to sort consumers in different categories in order to capture a maximum of surplus. However, when competition increases, the profitability on bundling strategies depends on correlation of consumers' reservations values. (author)
Conrad, M. D.
Describes various energy strategies available to Guam to meet the territory's goal of diversifying fuel sources and reducing fossil energy consumption 20% by 2020.The information presented in this strategic energy plan will be used by the Guam Energy Task Force to develop an energy action plan. Available energy strategies include policy changes, education and outreach, reducing energy consumption at federal facilities, and expanding the use of a range of energy technologies, including buildings energy efficiency and conservation, renewable electricity production, and alternative transportation. The strategies are categorized based on the time required to implement them.
. Based on an analysis of five CSR projects, it can be assessed that Roshan enhances its competitive advantage through CSR in internal, external, and wider-society levels. It is analyzed that Roshan influences its competitive context both from inside-out and out-side in dimensions, and that the CSR......’, but is based on a ‘license to operate’ motivation, where businesses have free room for maneuvering CSR towards their strategic priorities and business goals. Whether this creates a ‘shared value’ for both business and in particularly for the society is however still questionable....
Long, J. C. S.
Researchers have been exploring geoengineering because Anthropogenic GHG emissions could drive the globe towards unihabitability for people, wildlife and vegetation. Potential global deployment of these technologies is inherently strategic. For example, solar radiation management to reflect more sunlight might be strategically useful during a period of time where the population completes an effort to cease emissions and carbon removal technologies might then be strategically deployed to move the atmospheric concentrations back to a safer level. Consequently, deployment of these global technologies requires the ability to think and act strategically on the part of the planet's governments. Such capacity most definitely does not exist today but it behooves scientists and engineers to be involved in thinking through how global command might develop because the way they do the research could support the development of a capacity to deploy intervention rationally -- or irrationally. Internationalizing research would get countries used to working together. Organizing the research in a step-wise manner where at each step scientists become skilled at explaining what they have learned, the quality of the information they have, what they don't know and what more they can do to reduce or handle uncertainty, etc. Such a process can increase societal confidence in being able to make wise decisions about deployment. Global capacity will also be enhanced if the sceintific establishment reinvents misssion driven research so that the programs will identify the systemic issues invovled in any proposed technology and systematically address them with research while still encouraging individual creativity. Geoengineering will diverge from climate science in that geoengineering research needs to design interventions for some publically desirable goal and investigates whether a proposed intervention will acheive desired outcomes. The effort must be a systems-engineering design problem
Having moved beyond its initial absorption with controlling new technology, environmental policy today must focus more strongly on promoting the development and adoption of new technologies. World Resource Institute's (WRI) ongoing study of 'environmentally strategic technology' is addressed to this fundamental policy issue. The study proposes criteria for identifying such technology, offers a specific list, suggests the kinds of public policy changes necessary to encourage their development and finally presents a comparison of critical technology lists (from the White House, the European Community, Japan and the US Department of Defense). (TEC)
The days of long-term predict-and-provide planning that saw its heydays in the post-war decades are long gone. As our late-modern time presents us with an evermore complex and contrasting view of the world, planning has become a much more fragmented and ambivalent affair. That a country or a city...... should be run like a private corporation has increasingly become common sense, and thus the competition among entities – be it countries, regions or cities – to a greater and greater extent defines success and the means to achieve it. What has been collected under the umbrella term Strategic Urban...
Singh, D. K.; Singh, Satyendra
Investment in inventory absorbs a large portion of the working capital of a company and often it represents a large portion of the total assets of a business. By improving return on investment by increasing the rate of inventory turnover, management often wants to ensure economic efficiency. Effective inventory management enables a firm to provide lower costs, rapid response and flexibility for its customers. Just-in-time (JIT) philosophy is most widely adopted and practices in the recent years worldwide. It aims at reducing total production costs by producing only what is immediately needed and eliminates wastes. It is based on a radically different concept, deviating substantially from the existing manufacturing practices in many respects. It is a very effective tool to reduce the wastage of inventory and manage it effectively. It has the potential to bring substantial changes in the existing setup of a company; can give it a new face, broaden its acceptability and ensure a longer life. It can strategically change the atmosphere needed for longer survival. JIT is radically different from MRP and goes beyond materials management. The new outlook acquired by the company can meet global expectations of the cust
Commo, Sean A.; Ponder, Jonathan D.
The National Force Measurement Technology Capability (NFMTC) is a nationwide partnership established in 2008 and sponsored by NASA's Aeronautics Evaluation and Test Capabilities (AETC) project to maintain and further develop force measurement capabilities. The NFMTC focuses on force measurement in wind tunnels and provides operational support in addition to conducting balance research. Based on force measurement capability challenges, strategic investments into research tasks are designed to meet the experimental requirements of current and future aerospace research programs and projects. This paper highlights recent and force measurement investments into several areas including recapitalizing the strain-gage balance inventory, developing balance best practices, improving calibration and facility capabilities, and researching potential technologies to advance balance capabilities.
Welch, J.L. [International Transmission Co., Detroit, MI (United States)
The International Transmission Company (ITC) is an independent power transmission company that owns, operates and maintains the high voltage transmission system in southeastern Michigan. The company's current focus is on investing in the transmission infrastructure to improve reliability, relieve congestion, improve access to generation and reduce energy costs for consumers. There is a need for investment in power transmission. Trends indicate that power transactions are on the rise while transmission investment is lagging because pricing protocols are inadequate and there is no regional tariff mechanism to allocate the benefits of new investment. The presentation reviewed the applicability of FTRs to transmission owners and the pitfalls of participant funding pricing. It also outlined the regional benefit allocation mechanism (RBAM) with an illustrative example. It was concluded that existing pricing policies must be improved to address the growing need for transmission investment. RBAM is needed to help investors recover costs from project beneficiaries. figs.
Hueser, Pius [Nova Energy GmbH, (Switzerland)
This presentation is mainly about how the PV market in Europe has been growing, and which elements are going to determine if this market succeed or failed not only in Europe but also in the rest of the world. In the first part of this presentation, it is mentioned how in 2005 the development of some PV technologies triggered the PV market growth without any marketing control. Then, there are explained the aspects that changed such situation out of control, therefore, it emerged the beginning of the consolidation of this market. There are briefly explained those factors that are going to determine if this market succeed or failed in the future. Finally, there are given examples of some the PV investments. [Spanish] Esta presentacion habla principalmente de la manera en como ha crecido el Mercado de sistemas fotovoltaicos en Europa, asi tambien se mencionan los elementos fundamentales que determinaran el exito o fracaso de este mercado, no solamente en Europa sino tambien en el resto del mundo, en un futuro. En la primera parte de esta presentacion, se describe como en el 2005, debido al desarrollo de algunas tecnologias fotovoltaicas se desencadeno el crecimiento desenfrenado del mercado fotovoltaico. Despues, se explican los aspectos que hicieron que dicho crecimiento tomara su curso, teniendo como resultado el inicio de un mercado mas consolidado. Se explican brevemente los factores que determinaran si este mercado encuentra el exito o el fracaso en un futuro. Finalmente, se dan ejemplos de algunas adquisiciones fotovoltaicas.
Full Text Available China’s investments in the European Union are much lower than what you may expect given the economic size of both entities. These relatively low investments in Europe are a combination of priority and obstacles. The priority for investments is clearly in Asia, Africa and Latin America. This regional pattern is heavily influenced by the need to solve the resource shortage in the medium and long term. The investments in Europe and the United States are mostly market seeking investments. Research specifically focused on Chinese M&A abroad comes to the same conclusion. The success rate of Chinese M&A abroad is much lower than what we see with respect to American or European investments abroad. In this paper, we examine why Chinese firms are facing more difficulties in the European Union than in other regions. The paper focuses on Chinese M&A as proxy for total foreign direct investments abroad. By looking at the factors that have been documented as influencing the level of M&A abroad, it becomes clear that Chinese firms in Europe are hindered by many factors. For example, the trade between China and the EU is relatively low, the institutional quality is lower compared to the United States, there is less experience with respect to Europe and relatively many deals relate to State Owned Enterprises (SOE which makes the deal sensitive. So it is logical that Chinese investments are not very high in Europe. However, the research makes clear that the obstacles for Chinese investments in Europe are disappearing step by step. In that sense, we expect a strong increase of Chinese investments in Europe in the future.
Grant, Jon E; Odlaug, Brian L; Chamberlain, Samuel R; Schreiber, Liana R N
It has been theorized that there may be subtypes of pathological gambling, particularly in relation to the main type of gambling activities undertaken. Whether or not putative pathological gambling subtypes differ in terms of their clinical and cognitive profiles has received little attention. Subjects meeting DSM-IV criteria for pathological gambling were grouped into two categories of preferred forms of gambling - strategic (e.g., cards, dice, sports betting, stock market) and non-strategic (e.g., slots, video poker, pull tabs). Groups were compared on clinical characteristics (gambling severity, and time and money spent gambling), psychiatric comorbidity, and neurocognitive tests assessing motor impulsivity and cognitive flexibility. Seventy-seven subjects were included in this sample (45.5% females; mean age: 42.7±14.9) which consisted of the following groups: strategic (n=22; 28.6%) and non-strategic (n=55; 71.4%). Non-strategic gamblers were significantly more likely to be older, female, and divorced. Money spent gambling did not differ significantly between groups although one measure of gambling severity reflected more severe problems for strategic gamblers. Strategic and non-strategic gamblers did not differ in terms of cognitive function; both groups showed impairments in cognitive flexibility and inhibitory control relative to matched healthy volunteers. These preliminary results suggest that preferred form of gambling may be associated with specific clinical characteristics but are not dissociable in terms of cognitive inflexibility and motor impulsivity. Copyright © 2012 Elsevier Inc. All rights reserved.
This chapter deals with the manner of making diagnoses and decisions, called strategic style, in a gambling game called Pared-down Poker. The approach treats style as a mental mode in which choices are constrained by expected utilities. The focus is on two classes of utility, i.e., money and effort, and how cognitive styles compare to normative strategies in optimizing these utilities. The insights are applied to real-world concerns like managing the war against terror networks and assessing the risks of system failures. After "Introducing the Interactions" involved in playing poker, the contents are arranged in four sections, as follows. "Underpinnings of Utility" outlines four classes of utility and highlights the differences between them: economic utility (money), ergonomic utility (effort), informatic utility (knowledge), and aesthetic utility (pleasure). "Inference and Investment" dissects the cognitive challenges of playing poker and relates them to real-world situations of business and war, where the key tasks are inference (of cards in poker, or strength in war) and investment (of chips in poker, or force in war) to maximize expected utility. "Strategies and Styles" presents normative (optimal) approaches to inference and investment, and compares them to cognitive heuristics by which people play poker--focusing on Bayesian methods and how they differ from human styles. The normative strategy is then pitted against cognitive styles in head-to-head tournaments, and tournaments are also held between different styles. The results show that style is ergonomically efficient and economically effective, i.e., style is smart. "Applying the Analysis" explores how style spaces, of the sort used to model individual behavior in Pared-down Poker, might also be applied to real-world problems where organizations evolve in terror networks and accidents arise from system failures.
Chambers, S B
The strategic marketing process, like any administrative practice, is far simpler to conceptualize than operationalize within an organization. It is for this reason that this chapter focused on providing practical techniques and strategies for implementing the strategic marketing process. First and foremost, the marketing effort needs to be marketed to the various publics of the organization. This chapter advocated the need to organize the marketing analysis into organizational, competitive, and market phases, and it provided examples of possible designs of the phases. The importance and techniques for exhausting secondary data sources and conducting efficient primary data collection methods were explained and illustrated. Strategies for determining marketing opportunities and threats, as well as segmenting markets, were detailed. The chapter provided techniques for developing marketing strategies, including considering the five patterns of coverage available; determining competitor's position and the marketing mix; examining the stage of the product life cycle; and employing a consumer decision model. The importance of developing explicit objectives, goals, and detailed action plans was emphasized. Finally, helpful hints for operationalizing the communication variable and evaluating marketing programs were provided.
Full Text Available This paper examines the effect of South Africa’s economic fundamentals on net direct investment and net portfolio investment. The results suggest that the main determinants of investment in South Africa are resource prices, input productivity and the economic performance of the domestic economy. The results illustrate that net direct investment and net portfolio investment are close but not perfect substitutes. In addition, we find that an increase in labour input costs reduces both net direct investment and net portfolio investment. Further, an increase in fixed capital productivity increases net direct investment. Further, also the results illustrate that subsidies increase both net direct investment and net portfolio investment. Moreover, an increase in exports increases both net direct investment and net portfolio investment. Policy recommendations are thus proposed that may increase foreign direct investment in South Africa.
V. L. Adzhienko
Full Text Available Management decisions, both at the enterprise level and at the industry level as a whole, is impossible without carrying out a strategic analysis, which is regarded as the performance of a corresponding management function that is perspective-oriented and has a high level of uncertainty. Strategic analysis involves researching the system of factors that determine the future state of the public-private partnership (PPP in the development of health care. The strategic analysis of PPP in the healthcare sector as a complex study of positive and negative factors that may affect the efficiency of the development of the PPP institution in the development of the healthcare is under consideration in the article. A number of new components complementing the system of strategic analysis of PPPs in the healthcare were proposed, and generalizations and conclusions were made.The aim of the research is to study the impact of the strategic analysis of PPPs in the sphere of healthcare on the formation of strategic directions for increasing the efficiency of using the PPP institution in healthcare.Materials and methods. In the process of achieving the research goal, methods of strategic and integrated economic analysis were used.Results and discussion. In our strategic analysis of PPP in the healthcare, it was revealed that under the conditions of underfunding national economy, medical institutions based on PPPs are being established in order to modernize and improve the quality of public services. PPP is an effective mechanism for attracting long-term investments aimed at the development of the health sector. The results of our analysis of PPP in the sphere of Russian healthcare made it possible to reveal that at present there are more than 70 projects in the process of implementation, 61 projects are already under construction and operation. Within the framework of the PPP-implemented healthcare projects, it is planned to attract investments of 61 billion rubles
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... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Eligible investments. 615.5140 Section 615.5140... POLICIES AND OPERATIONS, AND FUNDING OPERATIONS Investment Management § 615.5140 Eligible investments. (a) You may hold only the following types of investments listed in the Investment Eligibility Criteria...
Marshall, Timothy J.
U.S. leadership in aeronautics depends on ready access to technologically advanced, efficient, and affordable aeronautics test capabilities. These systems include major wind tunnels and propulsion test facilities and flight test capabilities. The federal government owns the majority of the major aeronautics test capabilities in the United States, primarily through the National Aeronautics and Space Administration (NASA) and the Department of Defense (DoD), however an overarching strategy for management of these national assets was needed. Therefore, in Fiscal Year (FY) 2006 NASA established the Aeronautics Test Program (ATP) as a two-pronged strategic initiative to: (1) retain and invest in NASA aeronautics test capabilities considered strategically important to the agency and the nation, and (2) establish a strong, high level partnership with the DoD Test Resources Management Center (TRMC), stewards of the DoD test and evaluation infrastructure. Since then, approximately seventy percent of the ATP budget has been directed to underpin fixed and variable costs of facility operations within its portfolio and the balance towards strategic investments in its test facilities, including maintenance and capability upgrades. Also, a strong guiding coalition was established through the National Partnership for Aeronautics Testing (NPAT), with governance by the senior leadership of NASA s Aeronautics Research Mission Directorate (ARMD) and the DoD's TRMC. As part of its strategic planning, ATP has performed or participated in many studies and analyses, including assessments of major NASA and DoD aeronautics test capabilities, test facility condition evaluations and market research. The ATP strategy has also benefitted from unpublished RAND research and analysis by Ant n et al. (2009). Together, these various studies, reports and assessments serve as a foundation for a new, five year strategic plan that will guide ATP through FY 2014. Our vision for the future is a balanced
Kotler, Philip; Murphy, Patrick E.
The framework necessary for achieving a strategic planning posture in higher education is outlined. The most important benefit of strategic planning for higher education decision makers is that it forces them to undertake a more market-oriented and systematic approach to long- range planning. (Author/MLW)
Pedersen, Jørgen Lindgaard
Neoclassical mainstream economics has no perspective on strategic technology management issues. Market failure economics (externalities etc.)can be of some use to analyze problems of relevance in strategic management problems with technology as a part. Environment, inequality and democratic...... deficits are important problems today...
Croonen, Evelien Petronella Maria
This dissertation deals with understanding strategic interactions between franchisors and franchisees. The empirical part of this study consists of in-depth case studies in four franchise systems in the Dutch drugstore industry. The case studies focus on a total of eight strategic change processes
The field of Strategic Communication involves a focused effort to identify, develop, and present multiple types of communication media on a given subject. A Strategic Communication program recognizes the limitations of the most common communication models (primarily “one s...
Fershtman and Judd (1987) and Sklivas (1987) show how strategic delegation in the one-shot Cournot game reduces firm profits. However, with infinitely repeated interaction, strategic delegation allows for an improvement in cartel stability compared to the infinitely repeated standard Cournot game,
Treat, Tod; Hartenstine, Mary Beth
This chapter provides a framework and recommendations for development of strategic partnerships in a variety of cultural contexts. Additionally, this study elucidates barriers and possibilities in interagency collaborations. Without careful consideration regarding strategic partnerships' approaches, functions, and goals, the ability to…
Paul, Jim; Strbiak, Christy A.
Examines the concept of strategic ambiguity in communication, and addresses the ethics of strategic ambiguity from an intrapersonal perspective that considers the congruity of communicators' espoused-ethics, ethics-in-use, and behavior, where ethical judgements are based on the congruity between espoused-ethics and actual behavior. Poses questions…
Bassett, Patrick F.
The thinking on "strategic thinking" has evolved significantly over the years. In the previous century, the independent school strategy was to focus on long-range planning, blithely projecting 10 years into the future. For decades this worked well enough, but in the late 20th century, independent schools shifted to "strategic planning," with its…
McLaughlin-Graham, Karen; Berge, Zane L.
Strategic planning is a critical part of sustaining distance education. Through such planning, the organization can solve business problems that involve training and education in an effective and often cost savings manner compared to in-person training efforts. This paper examines the strategic planning process as it relates to sustaining distance…
Angelika I. Petrova
Full Text Available This report is a summary of a research done on the area of Strategic Cost Management (SCM. This report includes a detailed discussion and application of Life Cycle Costing (LCC which a company can use to achieve its strategic objects in today's dynamic business environment. Hence, the main focus of this report is on LCC as mentioned
Technology is essential to the delivery of health care but it is still only a tool that needs to be deployed wisely to ensure beneficial outcomes at reasonable costs. Among various categories of health technology, medical equipment has the unique distinction of requiring both high initial investments and costly maintenance during its entire useful life. This characteristic does not, however, imply that medical equipment is more costly than other categories, provided that it is managed properly. The foundation of a sound technology management process is the planning and acquisition of equipment
Jones, Kelly W; Cannon, Jeffery B; Saavedra, Freddy A; Kampf, Stephanie K; Addington, Robert N; Cheng, Antony S; MacDonald, Lee H; Wilson, Codie; Wolk, Brett
A small but growing number of watershed investment programs in the western United States focus on wildfire risk reduction to municipal water supplies. This paper used return on investment (ROI) analysis to quantify how the amounts and placement of fuel treatment interventions would reduce sediment loading to the Strontia Springs Reservoir in the Upper South Platte River watershed southwest of Denver, Colorado following an extreme fire event. We simulated various extents of fuel mitigation activities under two placement strategies: (a) a strategic treatment prioritization map and (b) accessibility. Potential fire behavior was modeled under each extent and scenario to determine the impact on fire severity, and this was used to estimate expected change in post-fire erosion due to treatments. We found a positive ROI after large storm events when fire mitigation treatments were placed in priority areas with diminishing marginal returns after treating >50-80% of the forested area. While our ROI results should not be used prescriptively they do show that, conditional on severe fire occurrence and precipitation, investments in the Upper South Platte could feasibly lead to positive financial returns based on the reduced costs of dredging sediment from the reservoir. While our analysis showed positive ROI focusing only on post-fire erosion mitigation, it is important to consider multiple benefits in future ROI calculations and increase monitoring and evaluation of these benefits of wildfire fuel reduction investments for different site conditions and climates. Copyright © 2017 Elsevier Ltd. All rights reserved.
Arnold, Marc; Westermann, Ramona
This paper analyzes the impact of debt covenant renegotiation outside corporate distress on firms. We study a structural model of a levered firm that can renegotiate debt both at investment and in corporate distress. Covenant renegotiation at investment reduces the agency cost of debt because...... it induces a firm value maximizing investment financing policy and mitigates the overinvestment problem. Incorporating renegotiation outside corporate distress is crucial to explain empirical occurrence patterns of debt renegotiation, the impact of debt renegotiation on corporate securities, and the relation...
Mandlis, Lane R
By probing the processes of exclusion of transsexuals from the political sphere, this article offers contributions to social and political theory through an examination of the processes of exclusion from the category "human." This article considers how the erasure of investment in their own embodied sex constructs a platform from which to blame others for sex/gender variance, as well as to justify that blaming. Bringing together Giorgio Agamben, Georges Bataille, Judith Butler, and Nikolas Rose with transphobia, medicalization in psychiatry, law, and ethopolitics, this article questions whose investment in sexed embodiment counts and why that investment might be seen as "crazy."
Oluduro, Francis Oladele; Duru, Longinus; Al Jaafar, Mofid
Date: 2008-06-05 Level: Bachelor Thesis in Business Administration EF0703, 15 ECTS Credits. Authors: Longinus Duru (Stockholm), Francis O.Oluduro (Västerås) and Mofid Al Jaafar (Västerås) Title: Capital Investment Procedures for FEMYSO Problem Area: Undertaking an investment by FEMYSO involves weighing up the risk against the returns but still capital investment decision are still one of the most undertaken decisions by organization managers because it involves commitment of huge amount of mo...
Janice Dai is a senior executive at Harvest Fund Management Co.Ltd.,one of China’s top fund management compa- nies,managing fixed income market investments across the country.She also leads her company’s overall institutional investments.Recently she agreed to talk about her company as well as comment on China’s booming financial indus- try,in the wake of overseas invest- ment bankers predicting tremen- dous returns on the Chinese main- land over the next few years.
Terezie Bartusková; Jitka Baňařová; Zuzana Kusněřová
Importance of strategic planning is unquestionable. However, the practical implementation of a strategic plan faces too many obstacles. The aim of the article is explained the importance of strategic planning and to find how companies in Moravian-Silesian Region deal with strategic planning, and to introduce the model, which helps to set strategic goals in financial indicators area. This model should be part of the whole process of strategic planning and can be use to predict the future value...
Full Text Available In this paper, we attempt to explain how the ownership mechanism of an interorganisational information system (IOS may impact strategic information exchange (electronic coordination induced by specific investments in the IOS. Recent research and practice show that heavy investments in IOSs demonstrate mixed results with respect to their impact on the electronic coordination. Consequently, the search of additional factors is needed to help and explain under what circumstances the IOS investments for strategic purposes become beneficial for the companies in a buyersupplier dyad. Transaction cost economics (TCE and the hostage model are used as a framework for the research. 198 observations of Norwegian companies in different branches of industry constitute the base of the empirical study. A buyer-supplier dyad is the unit of the analysis. A regression model of the relation between the IOS ownership mechanism and the strategic information sharing is used to test two hypotheses about the buyer-supplier collaboration via an IOS. The results demonstrate that the risk of unilateral specific investments in an IOS made by the buyer or the seller is attenuated by the ownership mechanism of the IOS. The willingness of a buyer to share their strategic information with the supplier via the IOS increases if the supplier invests in the IOS which is owned and controlled by the buyer. Conversely, the supplier becomes motivated to share certain sensitive strategic information with the buying company if the latter invests in the IOS which is owned and controlled by the supplier.
fulfill that intent. In contrast, the Army, Navy and Marine Corps utilize warrant officers in a multitude of capacities, especially in highly... education and more generalized knowledge of commissioned officers. Warrant officer duties include supervising and managing the execution of cyberspace...trace his or her roots back to the British Royal Navy in the thirteenth century.28 The Crown awarded Royal Warrants to especially experienced sailors to
Full Text Available Due to the imposition of sanctions, based more on geopolitical interests, there were additional essential restrictions on sources of external credits, use of import raw materials and technologies, possibilities of attraction to work of the qualified employees which do not have the Russian nationality, participation in the international technology and scientific projects. At similar restrictions of different resources investment decisions are made extremely carefully, and especially careful and reasonable efficiency evaluation of the investments is required. Traditionally used techniques of efficiency evaluation of investment projects not fully consider strategic interests of owners of industrial enterprises and investors. Decrease in risks requires higher quality of project evaluation. In this work the method of multi-level consistently complex integral assessment of investment projects on an indicator of the integral indicator of their efficiency implementing consecutive selection of investment projects from a portfolio on essential indicators of commercial effectiveness, efficiency of production business activities, a financial state and productivity of activity is provided. The developed method of a complex assessment of investment projects is implemented for practical application by the software product allowing to create on the basis of economic-mathematical modeling specific recommendations in economic practice of industrial enterprises during the developing and implementation of investment strategies. The conclusion that for the Russian economy in the conditions of import substitution accounting of all set of interests of investors and owners of the enterprises provides development and implementation of reasonable investment strategies is drawn.
Joseph R Fitchett
Full Text Available Research investments are essential to address the burden of disease, however allocation of limited resources is poorly documented. We systematically reviewed the investments awarded by funding organisations to UK institutions and their global partners for infectious disease research.Public and philanthropic investments for the period 1997 to 2010 were included. We categorised studies by infectious disease, cross-cutting theme, and by research and development value chain, reflecting the type of science. We identified 6165 funded studies, with a total research investment of UK £2.6 billion. Public organisations provided £1.4 billion (54.0% of investments compared with £1.1 billion (42.4% by philanthropic organisations. Global health studies represented an investment of £928 million (35.7%. The Wellcome Trust was the leading investor with £688 million (26.5%, closely followed by the UK Medical Research Council (MRC with £673 million (25.9%. Funding over time was volatile, ranging from ∼£40 million to ∼£160 million per year for philanthropic organisations and ∼£30 million to ∼£230 million for public funders.Infectious disease research funding requires global coordination and strategic long-term vision. Our analysis demonstrates the diversity and inconsistent patterns in investment, with volatility in annual funding amounts and limited investment for product development and clinical trials.
This PhD thesis focuses on the impact of the European Union Emissions Trading Scheme (EU ETS) on investment decisions in the European power sector. We provide the policy background on the EU ETS and contemporary policy and economic developments. We discuss the main types of compliance buyers' responses to the EU ETS constraint: emissions reductions, acquisitions of additional compliance assets, and other responses. We present the results of an empirical survey of the most carbon constrained European utilities. We show that strategic and economic considerations prevailed over the introduction of the carbon price. We discuss the impact of those investments on European utilities' EU ETS profile by looking at the potentially locked-in emissions, changes in the compliance perimeter and some specific developments relative to carbon leakage and Kyoto offsets. We offer a review of the investment decision-making approaches. Exploring the impact of carbon price scenarios on generation investment portfolios, we are able to identify that: the EU ETS has a moderate but central reallocation role in power generation investment portfolios; insights into the long-term carbon price trend are particularly helpful to unlock investment; some much discussed policy provisions only have a relatively small impact on investment portfolios; carbon price expectations impact decisions relative to power generation investment portfolios; while the EU ETS has a central role, the climate and non-climate policy mix matters most. (author)
Fitchett, Joseph R.; Head, Michael G.; Cooke, Mary K.; Wurie, Fatima B.; Atun, Rifat
Background Research investments are essential to address the burden of disease, however allocation of limited resources is poorly documented. We systematically reviewed the investments awarded by funding organisations to UK institutions and their global partners for infectious disease research. Methodology/Principal Findings Public and philanthropic investments for the period 1997 to 2010 were included. We categorised studies by infectious disease, cross-cutting theme, and by research and development value chain, reflecting the type of science. We identified 6165 funded studies, with a total research investment of UK £2.6 billion. Public organisations provided £1.4 billion (54.0%) of investments compared with £1.1 billion (42.4%) by philanthropic organisations. Global health studies represented an investment of £928 million (35.7%). The Wellcome Trust was the leading investor with £688 million (26.5%), closely followed by the UK Medical Research Council (MRC) with £673 million (25.9%). Funding over time was volatile, ranging from ∼£40 million to ∼£160 million per year for philanthropic organisations and ∼£30 million to ∼£230 million for public funders. Conclusions/Significance Infectious disease research funding requires global coordination and strategic long-term vision. Our analysis demonstrates the diversity and inconsistent patterns in investment, with volatility in annual funding amounts and limited investment for product development and clinical trials. PMID:25162631
Fitchett, Joseph R; Head, Michael G; Cooke, Mary K; Wurie, Fatima B; Atun, Rifat
Research investments are essential to address the burden of disease, however allocation of limited resources is poorly documented. We systematically reviewed the investments awarded by funding organisations to UK institutions and their global partners for infectious disease research. Public and philanthropic investments for the period 1997 to 2010 were included. We categorised studies by infectious disease, cross-cutting theme, and by research and development value chain, reflecting the type of science. We identified 6165 funded studies, with a total research investment of UK £2.6 billion. Public organisations provided £1.4 billion (54.0%) of investments compared with £1.1 billion (42.4%) by philanthropic organisations. Global health studies represented an investment of £928 million (35.7%). The Wellcome Trust was the leading investor with £688 million (26.5%), closely followed by the UK Medical Research Council (MRC) with £673 million (25.9%). Funding over time was volatile, ranging from ∼£40 million to ∼£160 million per year for philanthropic organisations and ∼£30 million to ∼£230 million for public funders. Infectious disease research funding requires global coordination and strategic long-term vision. Our analysis demonstrates the diversity and inconsistent patterns in investment, with volatility in annual funding amounts and limited investment for product development and clinical trials.
Adams, Richard [National Renewable Energy Lab. (NREL), Golden, CO (United States); Pless, Jacquelyn [Joint Institute for Strategic Energy Analysis, Golden, CO (United States); Arent, Douglas J. [Joint Institute for Strategic Energy Analysis, Golden, CO (United States); Locklin, Ken [Impax Asset Management Group (United Kingdom)
Technology development in the clean energy and broader clean tech space has proven to be challenging. Long-standing methods for advancing clean energy technologies from science to commercialization are best known for relatively slow, linear progression through research and development, demonstration, and deployment (RDD&D); and characterized by well-known valleys of death for financing. Investment returns expected by traditional venture capital investors have been difficult to achieve, particularly for hardware-centric innovations, and companies that are subject to project finance risks. Commercialization support from incubators and accelerators has helped address these challenges by offering more support services to start-ups; however, more effort is needed to fulfill the desired clean energy future. The emergence of new strategic investors and partners in recent years has opened up innovative opportunities for clean tech entrepreneurs, and novel commercialization models are emerging that involve new alliances among clean energy companies, RDD&D, support systems, and strategic customers. For instance, Wells Fargo and Company (WFC) and the National Renewable Energy Laboratory (NREL) have launched a new technology incubator that supports faster commercialization through a focus on technology development. The incubator combines strategic financing, technology and technical assistance, strategic customer site validation, and ongoing financial support.
Venkatraman, Vinod; Huettel, Scott A
Complex economic decisions - whether investing money for retirement or purchasing some new electronic gadget - often involve uncertainty about the likely consequences of our choices. Critical for resolving that uncertainty are strategic meta-decision processes, which allow people to simplify complex decision problems, evaluate outcomes against a variety of contexts, and flexibly match behavior to changes in the environment. In recent years, substantial research has implicated the dorsomedial prefrontal cortex (dmPFC) in the flexible control of behavior. However, nearly all such evidence comes from paradigms involving executive function or response selection, not complex decision-making. Here, we review evidence that demonstrates that the dmPFC contributes to strategic control in complex decision-making. This region contains a functional topography such that the posterior dmPFC supports response-related control, whereas the anterior dmPFC supports strategic control. Activation in the anterior dmPFC signals changes in how a decision problem is represented, which in turn can shape computational processes elsewhere in the brain. Based on these findings, we argue for both generalized contributions of the dmPFC to cognitive control, and specific computational roles for its subregions depending upon the task demands and context. We also contend that these strategic considerations are likely to be critical for decision-making in other domains, including interpersonal interactions in social settings. © 2012 The Authors. European Journal of Neuroscience © 2012 Federation of European Neuroscience Societies and Blackwell Publishing Ltd.
Peter Bent Hansen
Full Text Available Over recent years, small businesses have been the target of public and private investment in Brazil due to the appreciation of their economic and social impact. The growth of small businesses in Brazil has stimulated a demand for greater knowledge and a broader understanding of their peculiarities. Hence, this paper aims to propose a framework for analyzing the strategic behavior for small businesses. To test the suitability of this analytical framework, qualitative research was conducted based on descriptive and exploratory case studies involving three small companies in the construction sector in the Rio Grande do Sul state, Brazil. The results show that: (i based on the proposed analytical structure it was possible to identifythe idiosyncrasies and the conflicts between strategy, structure and processes in such firms; (ii the strategic behavior ofthe firms is not stable, since they demonstrate the ability to change the prevailing strategic behavior based on strategicdecisions that reinforce the strategic typologies studied and; (iii it is possible to identify opportunities to strengthen certainstrategic behavior of firms.
Rasmussen, Torben Valdbjørn
Buildings play a vital economic and social role in society and are vulnerable to climate change. This paper suggests a strategic approach for existing buildings to withstand climate change. It emphasises the most likely climate impacts, including the change in mean year values as well as the exte...... based on the results of a vulnerability analysis. In addition, this paper describes some issues that must be addressed in case a strategic approach is not developed, as the building sector is continuously investing in measures to adapt to climate change.......Buildings play a vital economic and social role in society and are vulnerable to climate change. This paper suggests a strategic approach for existing buildings to withstand climate change. It emphasises the most likely climate impacts, including the change in mean year values as well as the extent......, the uncertainty of the scenarios leaves major challenges that will grow far more serious, if not addressed and taken into account in building design and into a strategy for the adaptation of existing buildings. An outline of the actions needed for developing a broad strategic approach to the adaptation to climate...
Ebipanipre Gabriel Mieseigha
Full Text Available This study aimed at examining environmental cost accounting information and strategic business decision in Nigeria. The general assumption that conventional cost accounting does not have the ability to provide absolute information for evaluating the environmental behaviour of an organization and its economic consequences has motivated this study. Towards achieving this, secondary data was employed and a linear model was specified. Findings indicated that environmental cost accounting information as it relates to strategic business decision is valuerelevant. It was on this note that we recommended firms to constantly reposition their accounting system in order to provide information on environmental costs so that the true costs in an organization can be ascertained and properly allocated. Also, due attention should be paid to waste management costs, employee health costs, investment financing costs, compliance and environmental costs and all environmental related costs by manufacturing concerns since they influence strategic decision. Our study is one of those that have explored the issue of environmental cost accounting relevance in strategic business decision in the Nigerian context.
Begun, J; Heatwole, K B
As the conditions affecting business and healthcare organizations in the United States have become more turbulent and uncertain, strategic planning has decreased in popularity. Strategic planning is criticized for stiffling creative responses to the new marketplace and for fostering compartmentalized organizations, adherence to outmoded strategies, tunnel vision in strategy formulation, and overemphasis on planning to the detriment of implementation. However, effective strategic planning can be a force for mobilizing all the constituents of an organization, creating discipline in pursuit of a goal, broadening an organization's perspective, improving communication among disciplines, and motivating the organization's workforce. It is worthwhile for healthcare organizations to preserve these benefits of strategic planning at the same time recognizing the many sources of turbulence and uncertainty in the healthcare environment. A model of "strategic cycling" is presented to address the perceived shortcomings of traditional strategic planning in a dynamic environment. The cycling model facilitates continuous assessment of the organization's mission/values/vision and primary strategies based on feedback from benchmark analysis, shareholder impact, and progress in strategy implementation. Multiple scenarios and contingency plans are developed in recognition of the uncertain future. The model represents a compromise between abandoning strategic planning and the traditional, linear model of planning based on progress through predetermined stages to a masterpiece plan.
When a strategic entity attempts to make a dicision, first the project must be m accoroance wlm its strategic framework as well as make the strategic inner cores prominent. The existing theories of development strategy indicate that the formation of the framework can be divided into the following parts： inside and outside environments, purpose, goal, key points, and countermeasures. The strategic inner cores that put forward by this paper is the intensification and advancement for the theory of strategic framework, strategic orientation, strategic vision and main line are inciuded. Appearance of these ideas have improved the theory and enhanced strategic practice.
Keywords: investment, uncertainty, investment spikes, entry, exit, duration model, GMM dynamic panel data estimator, Negative Binomial model, Heckman selection model, moving window ARIMA, Principal Component analysis, horticulture
This thesis focuses on the analysis of investment
Schilling, R B
We have now analyzed the use and benefits of four Strategic Thinking Tools for Radiology: the Vision Statement, the High Five, the Two-by-Two, and Real-Win-Worth. Additional tools will be provided during the tutorial. The tools provided above should be considered as examples. They all contain the 10 benefits outlined earlier to varying degrees. It is extremely important that the tools be used in a manner consistent with the Vision Statement of the organization. The specific situation, the effectiveness of the team, and the experience developed with the tools over time will determine the true benefits of the process. It has also been shown that with active use of the types of tools provided above, teams have learned to modify the tools for increased effectiveness and have created additional tools for specific purposes. Once individuals in the organization become committed to improving communication and to using tools/frameworks for solving problems as a team, effectiveness becomes boundless.
This article examines the dynamic and multi-dimensional nature of trust in strategic alliances. Adopting a co-evolutionary approach, I developed a framework to show how trust, conceptualised in different forms, plays distinct roles at various evolutionary stages of the alliance relationship....... Emphasising the multi-dimensional and dynamic role of trust, the framework illustrates how initial levels of a particular type of trust may co-evolve with the alliance and influence subsequent phases of the relationship – either on its own or in combination with other types or dimensions of trust....... The theoretical distinction between trust as antecedent, moderator and outcome during the evolution of the alliance relationship leads to research questions that may guide future empirical research....
developments enabling proper policy actions. The concept of innovation systems assumes that flows of technology and information among people, companies and institutions are crucial to the innovative process. At national level, innovation and technical development are the result of a complex set of interactions......This paper explores the strategic context of the implementation of the European Institute of Technology (EIT) from the perspective of National Innovation Systems (NIS) and the Triple Helix of University-Government-Industry relationship. The analytical framework is given by a comparative study...... implemented several action plans and programmes aiming at improving its technological and non-technological innovation capability, its performance in the global context is yet week, particularly if compared to rival economies such as Japan and the US (EC, 2008a). A recent initiative to foster Europe...
Strategic research is defined as that which is necessary to support not only an understanding of the phenomenon on which a new technology is based, but also the raft of other technologies needed to exploit the new phenomenon. The theme is illustrated by reference to the development of ceramics of importance to the nuclear industry and in particularly with relation to the AGR. Starting from natural uranium, the underlying and wide ranging research effort devoted to the technology of isotopic enrichment, the investigation of the uranium-oxygen binary system, fabrication of uranium dioxide fuel, interactions between the fuel and stainless steel cans, between the cans and CO 2 coolant and between the coolant and graphite moderator, is outlined. The role of ceramics in stable radioactive waste containment is also briefly mentioned. (author)
Full Text Available Construction, one of the major economic sector of activity in Europe, was severely affected by the actual global recession, although the impact of the crisis and the moment when it occurred varied widely between the EU Member States. In Romania, the first effects of the economic crisis in the construction sector occurred since early 2009, being visible both in physical volume of construction works and in the volume and value of investments in this sector. The crisis in the construction works had a strong impact on the entire Romanian economy. With the present research paper „A strategic approach of the construction sector in Romania” we aim to highlight the competitive advantage the companies in the field have on the national market. To this end we will use the SWOT model of strategic analysis and M. Porter’s five competitive forces model, in order to highlight the main problems faced by these companies.
Store brand plays a vital role in the success of retailers. Perceived quality is one of important factors influencing consumers' store brand purchase intention. Store brand perceived quality is lower compared with objective quality or national brand. For this end, the purpose of this article is to examine how to manage store brand perceived quality in strategic level. This article firstly discusses how consumers evaluate product quality, and the theoretical background of the reason that store brand perceived quality is lower from the view of cue related theories. Then, consumers' store brand quality evaluation is explored. Finally, this article presents several strategic tactics to increase store brand perceived quality. These tactics include choosing store's name as store brand name, making large advertising investment, improving store brand product package, and strengthening the relationship with store brand product suppliers.
刘春红; 江静; 李杰
With the entry to WRO and development of IT, banks in China are adjusting their competitive strategies to meet the competition. Internet banking has become a kind of strategic choice to response to the entry to WTO. Based on relevantly selective reviews of literature of strategy theory and research, a model is developed to study banks' strategic response to entry to WTO. According to a survey of 192 sets of questionnaires, this study finds that external pressure, business strategy and perceived benefits of Internet banking would influence banks' perceived increase in Internet banking investment. And banks'perceived increase in Internet banking investment has no difference between big banks and small banks.
Kronborg, Morten Tolver; Steffensen, Mogens
In a traditional Black–Scholes market we develop a verification theorem for a general class of investment and consumption problems where the standard dynamic programming principle does not hold. The theorem is an extension of the standard Hamilton–Jacobi–Bellman equation in the form of a system...... of non-linear differential equations. We derive the optimal investment and consumption strategy for a mean-variance investor without pre-commitment endowed with labor income. In the case of constant risk aversion it turns out that the optimal amount of money to invest in stocks is independent of wealth...... of future labor income net of consumption. Using the verification theorem we give a detailed analysis of this problem. It turns out that the optimal amount of money to invest in stocks is given by a linear function of wealth plus the financial value of future labor income net of consumption. The optimal...
Pärnu mudaravila kinnistu 50-aastasest hoonestusõigusest oli huvitatud Andres Tiigi firma Alvarelli Invest. Firma peab 2009. a. suveks vana mudaravila restaureerima ja rajama sellele mere poole juurdeehitise
Full Text Available The issue problem of paper is that base on researches connected with analysis of investments in logistics based on the review of 100 pooled manuscripts from different sources (scientific journals and online magazines from 1996 to 2012 it was showed that there don't exist quality as well as leadership has no a good overview of the investment in logistics. It was claimed that the quality point of view should be demanding part of investments in logistics. Val Log was proposed as an answer to the issues of managing quality of investments in logistics at the tactical level in organizations. By Val Log it is possible to overcome the myth that logistics projects cost money while business projects bring money. Val Log also provides detailed instructions for goals and metrics for each process. By doing changes the quality should be the obvious pillar of our affords doing it.
Foreign Direct Investment in China is one of the most comprehensive studies of FDI in China and provides a remarkable background of information on the evolution of China’s FDI policies over the last 30 years.
favoured-nation' treatment (MFN) clause which seeks to grant to an investor from ... designed to take account of the special characteristics of international investment disputes ... it regularly publishes information about its activities and cases.
Full Text Available This paper deals with issues of strategic management, particularly strategic planning and its beneficial effect on the overall performance of businesses. It is based on empirical results of the original research study called Adaptability of Enterprises to Contemporary Economic Conditions in Years 2007-2012 performed via questionnaire survey in three rounds during years 2011, 2012 and 2013. The analyses presented in the paper were conducted on the second round sample of 677 organizations operating mostly in the SME sector in the Czech and Slovak Republic. The interdependence between the level of strategic planning (existence of strategy in the form of written document and its extent and enterprise performance criteria (turnover, costs, profit, EVA, investments, period of arranged contracts is examined with the use of four hypotheses. The results are commented and discussed. The outcome is the apparent positive impact of full strategic document on the performance criteria of the businesses.
Reiman, Arto; Räisänen, Tuomo; Väyrynen, Seppo; Autio, Tommi
This study provides a case example of an energy company that prioritised occupational safety and health and accident reduction as long-term, strategic development targets. Furthermore, this study describes the monetary benefits of this strategic decision. Company-specific accident indicators and monetary costs and benefits are evaluated. During the observation period (2010-2016), strategic investments in occupational safety and health cost the company EUR 0.8 million. However, EUR 1.8 million were saved in the same period, resulting in a 2.20 cost-benefit ratio. The trend in cost savings is strongly positive. Annual accident costs were EUR 0.4 million lower in 2016 compared to costs in 2010. This study demonstrates that long-term, strategic commitment to occupational safety and health provides monetary value.
Kovalenko, V.S.; Silantiev, I.D.; Skorobogatov, V.A.
Full text : Common information is given here concerning the Caspian region that is located in the juncture zone of two regions : European and Western Asian. While the European region is a great centre of gas consumption, the Western Asian region contains the largest gas accumulation. Gas supply from Iran, Iraq, Turkmenia in the western direction requires strategic alliances in development of hydrocarbon potential. Also project investments on PSA base are more developed. Russia uses PSA mechanisms and strategic alliance formation. Reasons for strategic alliance formation for every company are widely described. Analysis of seismic data proves existence of anomalies of hydrocarbon pool type to filter the prospect portfolio, geological information complex analysis and preparation materials for oil and gas atlas formation. Peculiarity of Caspian region determine the necessing of international strategic alliance for decision infrastructure formation and ecosystem conservation
West, J; Glickman, S; Seidner, A G
The financial assets of a healthcare organization can present many opportunities for investment. In order to develop a profitable investment program that avoids risky speculation, however, healthcare financial managers must fully understand the nature and risks of their organizations' investments. They must define and monitor their investment objectives, limitations, levels of acceptable risk and policies and conditions through a statement of investment policy and comprehensive investment guidelines.
MENG Li; WANG Ding-wei
This study focuses on revealing the relationship between uncertainty and investment probability through real option model involving investment critical trigger and project earning. Use of Matlab software on the experimental results showing that project earning volatility influences investment probability, led the authors to conclude that this notion is not always correct, as increasing uncertainty should have an inhibiting effect on investment, and that in certain situation, increasing uncertainty actually increases the investment probability and so, should have positive impact on investment.
Tsu, Vivien Davis; Ginsburg, Ophira
We already know what causes cervical cancer, how to prevent it, and how to treat it, even in resource-constrained settings. Inequitable access to human papillomavirus vaccine for girls and screening and precancer treatment for women in low- and middle-income countries is unacceptable on ethical, social, and financial grounds. The burden of cervical cancer falls on the poor and extends beyond the narrow bounds of the family, affecting national economic development and community life, as family resources are drained and poverty tightens its grip. Proven solutions are available and the priorities for the next few years are clear, as shown by the papers in this Supplement. Sustained political commitment and strategic investments in cervical cancer prevention can not only save millions of lives over the next 10 years, but can also pave the way for the broader fight against all cancers. © 2017 The Authors. International Journal of Gynecology & Obstetrics published by John Wiley & Sons Ltd on behalf of International Federation of Gynecology and Obstetrics.
Tanzi, Vito; 中村, まづる
Corruption, particularly political or “grand” corruption, distorts the entire decision-making process connected with public investment projects. The degree of distortions is higher with weaker auditing institutions. The evidence presented shows that higher corruption is associated with (i) higher public investment; (ii) lower government revenues; (iii) lower expenditures on operations and maintenance; and (iv) lower quality of public infrastructure. The evidence also shows that corruption inc...
This is the first of a series of briefings which discuss the sustainable development issues raised by legal arrangements for the protection of foreign investment. The briefings are based on legal research by IIED and its partners. The goal is to provide accessible but accurate information for human rights, development and environmental organisations working on issues raised by foreign investment in low- and middle-income countries. Briefing 1 provides a general overview of key issues.
Murthy, D.N.P.; Rausand, M.; Virtanen, S.
Product reliability is of great importance to both manufacturers and customers. Building reliability into a new product is costly, but the consequences of inadequate product reliability can be costlier. This implies that manufacturers need to decide on the optimal investment in new product reliability by achieving a suitable trade-off between the two costs. This paper develops a framework and proposes an approach to help manufacturers decide on the investment in new product reliability.
Meyer, Klaus E.; Sinani, Evis
The extensive empirical literature analyzing productivity spillovers from foreign direct investment to local firms provides inconclusive results. Some studies find that foreign presence has a positive impact on the productivity of domestic firms, while others find no evidence or a negative effect...... for industrialized countries in the 1990s. Transition economies may experience spillovers, but these have been declining in recent years. Keywords: developing countries, transition economies, spillovers, foreign direct investment, technology transfer, meta-analysis...
Simplice A., Asongu
Contrary to mainstream consensus on the dominance of English common law countries in investment prospects, this paper sets a new tone in the legal origins debate by providing empirical validity on the dominance of French civil-law countries in private investment. The assessment is based on 38 African countries for the period 1996-2007. The law mechanisms of regulation quality and rule of law are used to investigate how legal origins (French, English, French sub-Saharan, Portuguese and North A...
@@ I. Professional Background Dr. Alyce Su specializes in investment managemeng, managing portfolios consisted of investment opportunities originated from China's growth and internationalization, both'outbound and inbound.
ANP's strategic regarding the government take considering the volumes of recoverable oil and the Brazilian attractiveness for upstream international investments; Estrategia da ANP quanto ao 'government take', considerando o volume recuperavel e a atratividade do Brasil para investimentos internacionais em 'upstream'
Motta, Regis [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil). Escola Politecnica. Dept. de Engenharia Industrial; Margueron, Claudio [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil). Escola Politecnica. Dept. de Geologia; Aquino, Thereza C.N. [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil). Escola Politecnica. Inst. de Geociencias
This article discusses the Brazilian Petroleum Agency (ANP) strategy to boost the competitiveness of Brazil in attracting investments to the energy sector, analyzing it both technically and economically. The Campos basin, with its opportunities in heavy oil and deep water exploration, is used as a case study. Previous literature evaluated the economic potential of oil fields under different hypotheses for cost and price structures, reaching the conclusion that the fiscal regime of Brazil in 2000 was internationally competitive and the oil fields under investigation were attractive. This situation no longer applies. Some of the previous hypotheses are reviewed, using the creaming effect, which models both the diminishing success probabilities of drilling and volume levels as a given sedimentary basin approaches its mature stage of exploration. The main conclusion is that a reduction in the government take, lowering the fraction under ANP's control, would foster exploration and production in mature basins. Therefore, a large number of reserves with relatively small VOR's will become feasible, which are currently unattractive, given the hurdle rates observed by the international oil industry. (author)
Grenaa Jensen, S.; Meibom, P.
There is considerable uncertainty in the Nordic electricity system with respect to the long-term development in production capacity. The process towards liberalisation of the electricity sector started with a situation of a large capacity margin, but this margin is gradually vanishing. Since the potential investors in new production capacity are unaccustomed with investments under the new regime, it is unknown if and when investments will take place. The purpose of the present study is to analyze if and when investors choose to invest in new electricity production capacity depending on their existing portfolio of power producing units. Electricity price scenarios generated with a partial equilibrium model (Balmorel) are combined with a model of investment decisions. In this, various scenarios concerning the development in the Nordic power market, such as new transmission lines between neighbouring countries, more installed wind power, and changes in CO 2 emission trading costs, are used to investigate the consequences for investments in a natural gas fired, combined cycle power plant. The main result of the analysis is that new investments are highly sensitive to investors existing power production portfolio, as new production units affect the merit order in the power market, i.e. compete with the existing power plants. (au)
S. V. Grishkevich
Full Text Available Strategic for power selling companies (PSC are buying, selling and investment activities. Buying activities are to be planned, selling activities predicted and both optimized by PSC on the basis of price and consumer number dynamics with due account of other factors. Very important is to develop the market of derivative instruments (derivatives as part of the risk management mechanism at all levels including that of the state, to use up-to-date and ecologically favorable technologies as well as renewable energy sources with due account of ecology improvement measurement costs.
Barry Bozeman; Juan Rogers
Although strategic management of R&D portfolios is common practice in private sector R&D, government R&D management tends to be more discrete and ad hoc, focusing on generating maximum output from individual projects. Often, there is no clear notion of the desired public sector output. Whereas private sector R&D evaluation is generally straightforward, with the function of R&D being measured in terms of a company's internal return on investment, the benefits of public-sponsored R&D tend to be...