935 resultados para Investment and Saving
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Dissertação de mestrado em Engenharia de Sistemas
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Dissertação de mestrado em Negócios Internacionais
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Dissertação de mestrado integrado em Engenharia Civil
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Dissertação de mestrado em Ciências da Comunicação (área de especialização em Publicidade e Relações Públicas)
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This article is devoted to the research of VoIP transmission quality over Digital Power Line Carrier channels. Assessment of quality transmission is performed using E-model. Paper considers the possibility of joint using of Digital Power Line carrier equipment with different architecture in one network. As a result of the research, the rule for constructing of multi-segment Digital Power Line Carrier channels was formulated. This rule allows minimizing the transmission delay and saving frequency resources of high voltage Power Line Carrier range.
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Extending the traditional input-output model to account for the environmental impacts of production processes reveals the channels by which environmental burdens are transmitted throughout the economy. In particular, the environmental input-output approach is a useful technique for quantifying the changes in the levels of greenhouse emissions caused by changes in the final demand for production activities. The inputoutput model can also be used to determine the changes in the relative composition of greenhouse gas emissions due to exogenous inflows. In this paper we describe a method for evaluating how the exogenous changes in sectorial demand, such as changes in private consumption, public consumption, investment and exports, affect the relative contribution of the six major greenhouse gases regulated by the Kyoto Protocol to total greenhouse emissions. The empirical application is for Spain, and the economic and environmental data are for the year 2000. Our results show that there are significant differences in the effects of different sectors on the composition of greenhouse emissions. Therefore, the final impact on the relative contribution of pollutants will basically depend on the activity that receives the exogenous shock in final demand, because there are considerable differences in the way, and the extent to which, individual activities affect the relative composition of greenhouse gas emissions. Keywords: Greenhouse emissions, composition of emissions, sectorial demand, exogenous shock.
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We study how market power affects investment and welfare when banks choose between restricting loan sizes and monitoring, in order to alleviate an underlying moral hazard problem. The impact of market power on aggregate welfare is the result of two countervailing effects. An increase in banks' market power results in: (i) higher lending rates, which worsens the borrower's incentive problem and reduces investment by unmonitored firms, (ii) higher monitoring effort, which reduces the proportion of credit-constrained firms. Whenever the second effect dominates, it is optimal to provide banks with some degree of market power.
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This paper does two things. First, it presents alternative approaches to the standard methods of estimating productive efficiency using a production function. It favours a parametric approach (viz. the stochastic production frontier approach) over a nonparametric approach (e.g. data envelopment analysis); and, further, one that provides a statistical explanation of efficiency, as well as an estimate of its magnitude. Second, it illustrates the favoured approach (i.e. the ‘single stage procedure’) with estimates of two models of explained inefficiency, using data from the Thai manufacturing sector, after the crisis of 1997. Technical efficiency is modelled as being dependent on capital investment in three major areas (viz. land, machinery and office appliances) where land is intended to proxy the effects of unproductive, speculative capital investment; and both machinery and office appliances are intended to proxy the effects of productive, non-speculative capital investment. The estimates from these models cast new light on the five-year long, post-1997 crisis period in Thailand, suggesting a structural shift from relatively labour intensive to relatively capital intensive production in manufactures from 1998 to 2002.
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Aquest projecte consisteix en la creació d’una eina que permeti automatitzar els tests que s’han de fer a una aplicació comercial j2ee, amb el propòsit de facilitar i estalviar feina a les persones encarregades de testejar aquesta aplicació, ajudant-les així en la seva tasca de cerca d’errors. Concretament, s’ha creat una aplicació construïda per capes, modulable i fàcilment ampliable, la qual arriba més enllà de l’automatització dels tests més habituals, permetent executar un conjunt de tests per tal de validar si la versió de l’aplicació a testejar és vàlida o no.
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En este trabajo se analiza la política petrolera mexicana durante el período 1938-2000 y su aportación al crecimiento económico mexicano. La orientación de la producción petrolera permite distinguir dos modelos de gestión de la industria petrolera. El primero de ellos; entre 1938-1976 tuvo por finalidad el aprovisionamiento energético del mercado interior a bajos precios. El segundo a partir de 1976 orientado hacia la exportación y la captura de la renta petrolera internacional. Esta ruptura en la política petrolera asociada constituye un caso interesante en sí mismo porque permite comparar los efectos de dos políticas totalmente opuestas sobre el crecimiento económico y sobre el desempeño de la propia industria petrolera en un país donde el Estado tiene derechos de propiedad exclusivos sobre el sector petrolero. Por ello, se aborda el tema como una problemática institucional que toma en cuenta tanto las características internas de México como la dinámica del mercado petrolero internacional. Se incide en el hecho de que el Estado mexicano ha utilizado a la industria petrolera y; concretamente los recursos que ésta genera no sólo como un instrumento para favorecer el crecimiento económico del país sino también para mantener el control del poder político frente a la élite económica. Así el inmovilismo institucional; la falta de ingresos e inversiones propias y el comportamiento rentista del Estado parecen haber condenado al sector petrolero mexicano al atraso y la ineficiencia. De este modo; se focaliza en las interrelaciones entre las instituciones económicas y políticas como elemento explicativo del por qué la industria petrolera no ha logrado convertirse en un elemento dinamizador del crecimiento económico mexicano en el largo plazo.
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As we face a difficult economic climate, in which inequalities may worsen, the PHA faces many challenges in its efforts to improve the health of the population. One such challenge is the issue of obesity. Recently, in the Draft Programme for Government and, again today, in anticipation of the publication of the Consultation on the Review of Health and Social Care Services in Northern Ireland, the specific issue of obesity has been highlighted in the media.The PHA is committed to playing a lead role in tackling this major health issue and has been systematically examining the evidence of best practice and effectiveness to ensure that investment and working in partnership will bring clear benefits. A welcome consequence of any success would be a reduction in the impact of the physical, and emotional costs of obesity related ill-health to individuals - and the financial costs to an overstretched healthcare system.A multi-facetted approach to tackling obesity is required for Northern Ireland. This will mean working across government departments, looking at relevant legislation, taxation, food standards and labelling, as well as supporting a raft of programmes within education, workplace, and at the local community level."The prevalence of overweight and obesity has risen dramatically in recent years in Northern Ireland and is now the norm to be overweight, rather than the exception. The Northern Ireland Health and Social Wellbeing Survey (2010-11) indicated that 36% of adults are overweight and a further 23% are obese; this means that approximately 3 in 5 adults in Northern Ireland carry excess weight. A similar proportion of males and females were obese (23%) however males were more likely to be overweight (44%) than females (30%).Data from the Northern Ireland Health and Wellbeing Survey (2010-11) reported that 27% of children aged 2-15 years are obese or overweight. The findings presented here are based on the guidelines put forward by the International Obesity Task Force. Using this approach, 8% of children were assessed as obese, with similar results for boys (8%) and girls (9%). Obesity has serious implications for health and wellbeing and is associated with an increased risk of heart disease and stroke, type 2 diabetes, some cancers, respiratory problems and joint pain.Evidence indicates that being obese can reduce life expectancy by up to 9 years; and it can impact on emotional and psychological well-being and self-esteem, especially among young people.Obesity also impacts on wider society through economic costs, loss of productivity and increased demands on our health and social care system. It is estimated that obesity in Northern Ireland is resulting in 260,000 working days lost each year with a cost to the local economy of £500 million.The good news is that the intentional loss of significant weight (approx 10kg) in overweight and obese adults has been shown to confer significant health benefits, decreased morbidity and may also reduce obesity-related mortality.Key programmes and interventions are undertaken by the PHA in order to prevent and reduce overweight and obesity. The programmes/interventions are supported by significant ongoing work at local level. Examples include:the promotion of breastfeeding; local programmes to increase awareness of good nutrition and develop cooking skills, for example 'Cook It!'; promotion of more active lifestyles, for example, Walking for Health' and 'Teenage Kicks'; development of community allotment schemes; programmes for primary school children, for example Skip2bfit and Eat, Taste and Grow; and sports and other recreation, for example 'Active Belfast'. The PHA's multi media campaign 'It all adds up!' to encourage children to become more active and understand the importance of keeping fit, in a fun and exciting way, ran until October 2011. It encouraged parents and carers to go to the website www.getalifegetactive.com and download the PHA logbook It all adds up! to plan activities as a family. The logbook helped children and parents plan and keep track of their participation in physical activity at school, home and in the community. PHA is currently developing a public information campaign and other supportive work to increase public awareness of obesity as well as to provide advice and support for those who want to make real changes. The campaign development is well underway and is anticipated for launch in late Spring 2012. Like many common health problems, people living in disadvantaged circumstances suffer most and the PHA is committed to tackling this aspect of health inequality. The good news is that even a modest weight loss, of 1-1 Â_ stones, can help to reduce the risk of many of the health problems resulting from being overweight or obese. Information on losing weight through healthier eating and being more active can be found on the PHA websites - www.enjoyhealthyeating.info and www.getalifegetactive.com . These websites provide help and advice for anyone who wants to improve their eating habits and fitness levels, by making small, sustainable, healthy changes to their lifestyle. The PHA leaflet, Small changes, big benefits is also available to download from the PHA website, 'Publications' section.
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The Official Food Safety laboratories have a critical role in ensuring food safety and public health for the whole population of the Republic of Ireland. These public health laboratories are made up of 7 microbiological testing laboratories and 3 chemical or Public Analyst’s laboratories. The laboratories are regionally based and offer an accredited (INAB) service to 10 health boards thus spanning the country. The role of the laboratories is to test food for compliance with the relevant legislation and guidelines, identify food-borne hazards and disease outbreaks, provide essential risk assessment information for national and international needs, provide a food testing service for consumers and a water testing service on a national basis. They also participate in dedicated National and EU surveys under the auspices of the Food Safety Authority of Ireland (FSAI). There has been significant investment and development in food-related public health protection in Ireland in recent years. However, there are still a number of issues that have the potential to impact on these laboratories in delivering a fully effective public health service in a cost efficient manner. Building on what has been achieved to date, this strategic review identifies those issues to be addressed in order to ensure (1) a cost effective national co-ordinated food safety laboratory service, (2) that future laboratory service needs are accounted for in the delivery of their Public Health role, and (3) that this Service meets both national and international requirements and standards.
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Excecutive order signed by Governor Thomas Vilsck. Directs the Department of Human Services to comply with all directives from the federal government arising from Hurricane Katrina insofar as those directives concern public welfare programs administered by DHS, declares that any evacuee shall be deemed a resident of the State of Iowa for purposes of obtaining eligibility for the food stamp, family investment and Medicaid programs, and DHS should process applications in an expedited and flexible manner.
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Summary Throughout my thesis, I elaborate on how real and financing frictions affect corporate decision making under uncertainty, and I explore how firms time their investment and financing decisions given such frictions. While the macroeconomics literature has focused on the impact of real frictions on investment decisions assuming all equity financed firms, the financial economics literature has mainly focused on the study of financing frictions. My thesis therefore assesses the join interaction of real and financing frictions in firms' dynamic investment and financing decisions. My work provides a rationale for the documented poor empirical performance of neoclassical investment models based on the joint effect of real and financing frictions on investment. A major observation relies in how the infrequency of corporate decisions may affect standard empirical tests. My thesis suggests that the book to market sorts commonly used in the empirical asset pricing literature have economic content, as they control for the lumpiness in firms' optimal investment policies. My work also elaborates on the effects of asymmetric information and strategic interaction on firms' investment and financing decisions. I study how firms time their decision to raise public equity when outside investors lack information about their future investment prospects. I derive areal-options model that predicts either cold or hot markets for new stock issues conditional on adverse selection, and I provide a rational approach to study jointly the market timing of corporate decisions and announcement effects in stock returns. My doctoral dissertation therefore contributes to our understanding of how under real and financing frictions may bias standard empirical tests, elaborates on how adverse selection may induce hot and cold markets in new issues' markets, and suggests how the underlying economic behaviour of firms may induce alternative patterns in stock prices.
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We present a new model of money management, in which investors delegate portfolio management to professionals based not only on performance, but also on trust. Trust in the manager reduces an investor's perception of the riskiness of a given investment, and allows managers to charge higher fees to investors who trust them more. Money managers compete for investor funds by setting their fees, but because of trust the fees do not fall to costs. In the model, 1) managers consistently underperform the market net of fees but investors still prefer to delegate money management to taking risk on their own, 2) fees involve sharing of expected returns between managers and investors, with higher fees in riskier products, 3) managers pander to investors when investors exhibit biases in their beliefs, and do not correct misperceptions, and 4) despite long run benefits from better performance, the profits from pandering to trusting investors discourage managers from pursuing contrarian strategies relative to the case with no trust. We show how trust-mediated money management renders arbitrage less effective, and may help destabilize financial markets.