867 resultados para Profit-sharing


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Current methods and tools that support Linked Data publication have mainly focused so far on static data, without considering the growing amount of streaming data available on the Web. In this paper we describe a case study that involves the publication of static and streaming Linked Data for bike sharing systems and related entities. We describe some of the challenges that we have faced, the solutions that we have explored, the lessons that we have learned, and the opportunities that lie in the future for exploiting Linked Stream Data.

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Purpose: The purpose of this document is to review the funding options for Microfinance Institutions (MFIs), define the size of the holdings of international investors in MFI equity and in particular the MFIs listed in stock exchanges, analyze the characteristics of these subset of the financial world and study the stock exchange evolution of some listed MFIs amid the financial crisis. Design/methodology/approach: Since academic literature on listed MFI equity is virtually inexistent, most of the information has been obtained from the World Bank, annual accounts of the listed MFIs, stock exchanges and from equity research documents. Findings and Originality/value: Microfinance Institutions share several common characteristics that make them a resilient business and the few MFIs that are listed in stock exchanges seem to have performed better in the financial crisis. Microfinance can be considered as one of the new frontiers of the expansion of the global banking industry. Practical implications: Presently, international for-profit investors have very few ways of investing in microfinance equity. Most of the equity of the MFI equity is funded locally or thanks to the local public sector. The stock exchange listing of the MFIs should drive MFIs towards a more professional management, more transparency and better governance. Social implications: Microfinance Institutions provide credit to microenterprises in poor countries that have no other alternative sources of external capital to expand its activity. If global investors could easily invest in the listed equity of the MFIs these institutions would expand its lending books and would improve its governance, part of the population living in poor areas or with lower income could ameliorate its standard of living. Originality/value: The number of Microfinance Institutions that are professionally run like commercial banks is still scarce and even more scarce are the MFI listed in public stock exchanges. Therefore the published literature on the characteristics and performance of the listed equity of the Microfinance Institutions is extremely reduced. But microfinance assets are rapidly growing and MFIs will need to list their equity in stock exchanges to sustain this expansion.

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Data-related properties of the activities involved in a service composition can be used to facilitate several design-time and run-time adaptation tasks, such as service evolution, distributed enactment, and instance-level adaptation. A number of these properties can be expressed using a notion of sharing. We present an approach for automated inference of data properties based on sharing analysis, which is able to handle service compositions with complex control structures, involving loops and sub-workflows. The properties inferred can include data dependencies, information content, domain-defined attributes, privacy or confidentiality levels, among others. The analysis produces characterizations of the data and the activities in the composition in terms of minimal and maximal sharing, which can then be used to verify compliance of potential adaptation actions, or as supporting information in their generation. This sharing analysis approach can be used both at design time and at run time. In the latter case, the results of analysis can be refined using the composition traces (execution logs) at the point of execution, in order to support run-time adaptation.

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Empirical Software Engineering (ESE) replication researchers need to store and manipulate experimental data for several purposes, in particular analysis and reporting. Current research needs call for sharing and preservation of experimental data as well. In a previous work, we analyzed Replication Data Management (RDM) needs. A novel concept, called Experimental Ecosystem, was proposed to solve current deficiencies in RDMapproaches. The empirical ecosystem provides replication researchers with a common framework that integrates transparently local heterogeneous data sources. A typical situation where the Empirical Ecosystem is applicable, is when several members of a research group, or several research groups collaborating together, need to share and access each other experimental results. However, to be able to apply the Empirical Ecosystem concept and deliver all promised benefits, it is necessary to analyze the software architectures and tools that can properly support it.

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Conferencia por invitación, impartida el 31 d mayo de 2014 en el Workshop on Language Technology Service Platforms: Synergies, Standards, Sharing at LREC2014

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This paper discusses a model based on the agency theory to analyze the optimal transfer of construction risk in public works contracts. The base assumption is that of a contract between a principal (public authority) and an agent (firm), where the payment mechanism is linear and contains an incentive mechanism to enhance the effort of the agent to reduce construction costs. A theoretical model is proposed starting from a cost function with a random component and assuming that both the public authority and the firm are risk averse. The main outcome of the paper is that the optimal transfer of construction risk will be lower when the variance of errors in cost forecast, the risk aversion of the firm and the marginal cost of public funds are larger, while the optimal transfer of construction risk will grow when the variance of errors in cost monitoring and the risk aversion of the public authority are larger

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Los regímenes fiscales que se aplican a los contratos de exploración y desarrollo de petróleo y gas, entre los propietarios del recurso natural (generalmente el país soberano representado por su gobierno) y las compañías operadoras internacionales (COI) que aportan capital, experiencia y tecnología, no han sabido responder a la reciente escalada de los precios del crudo y han dado lugar a que los países productores no estén recibiendo la parte de renta correspondiente al incremento de precios. Esto ha provocado una ola de renegociaciones llegándose incluso a la imposición unilateral de nuevos términos por parte de algunos gobiernos entre los que destacan el caso de Venezuela y Argentina, por ser los más radicales. El objetivo del presente trabajo es el estudio y diseño de un régimen fiscal que, en las actuales condiciones del mercado, consiga que los gobiernos optimicen sus ingresos incentivando la inversión. Para ello se simulan los efectos de siete tipos diferentes de fiscalidades aplicadas a dos yacimientos de características muy distintas y se valoran los resultados. El modelo utilizado para la simulación es el modelo de escenarios, ampliamente utilizado tanto por la comunidad académica como por la industria para comparar el comportamiento de diferentes regímenes fiscales. Para decidir cuál de las fiscalidades estudiadas es la mejor se emplea un método optimización multicriterio. Los criterios que se han aplicado para valorar los resultados recogen la opinión de expertos de la industria sobre qué factores se consideran deseables en un contrato a la hora invertir. El resultado permite delinear las características de un marco fiscal ideal del tipo acuerdo de producción compartida, sin royalties, con un límite alto de recuperación de crudo coste que permita recobrar todos los costes operativos y una parte de los de capital en cualquier escenario de precios, un reparto de los beneficios en función de un indicador de rentabilidad como es la TIR, con un mecanismo de recuperación de costes adicional (uplift) que incentive la inversión y con disposiciones que premien la exploración y más la de alto riesgo como la amortización acelerada de los gastos de capital o una ampliación de la cláusula de ringfence. Un contrato con estas características permitirá al gobierno optimizar los ingresos obtenidos de sus reservas de petróleo y gas maximizando la producción al atraer inversión para la exploración y mejorar la recuperación alargando la vida del yacimiento. Además al reducir el riesgo percibido por el inversor que recupera sus costes, menor será la rentabilidad exigida al capital invertido y por tanto mayor la parte de esos ingresos que irá a parar al gobierno del país productor. ABSTRACT Fiscal systems used in petroleum arrangements between the owners of the resource (usually a sovereign country represented by its government) and the international operating company (IOC) that provides capital, knowhow and technology, have failed to allocate profits from the recent escalation of oil prices and have resulted in producing countries not receiving the right share of that increase. This has caused a wave of renegotiations and even in some cases, like Venezuela and Argentina, government unilaterally imposed new terms. This paper aims to outline desirable features of a petroleum fiscal system, under current market conditions, for governments to maximize their revenues while encouraging investment. Firstly the impact of seven different types of fiscal regimes is studied with a simulation for two separate oil fields using the scenario approach. The scenario approach has been frequently employed by academic and business researchers to compare the performance of diverse fiscal regimes. In order to decide which of the fiscal regimes’ performance is best we used a multi-objective optimization decision making approach to assess the results. The criteria applied gather the preferences of a panel of industry experts about the desirable features of a contract when making investment decisions. The results show the characteristics of an ideal fiscal framework that closely resembles a production sharing contract, with no royalty payment and a high cost recovery limit that allows the IOC to recover all operating expenses and a share of its capital costs under any price scenario, a profit oil sharing mechanism based on a profitability indicator such as the ROR, with an uplift that allows to recover an additional percentage of capital costs and provisions that promote exploration investment, specially high-risk exploration, such as accelerated depreciation for capital costs and a wide definition of the ringfence clause. A contract with these features will allow governments to optimize overall revenues from its petroleum resources maximizing production by promoting investment on exploration and extending oil fields life. Also by reducing the investor’s perception of risk it will reduce the minimum return to capital required by the IOC and therefore it will increase the government share of those revenues.

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A unique gene, RBP-MS, spanning over 230 kb in the human chromosome 8p11-12 near the Werner syndrome gene locus is described. The single-copy RBP-MS gene is alternatively spliced, resulting in a family of at least 12 transcripts (average length of 1.5 kb). Nine different types of cDNAs that encode an RNa-binding motif at the N terminus and helix-rich sequences at the C terminus have been identified thus far. Among the 16 exons identified, four 5'-proximal exons contained sequences homologous to the RNA-binding domain of Drosophila couch potato gene. Northern blot analysis showed that the RBP-MS gene was expressed strongly in the heart, prostate, intestine, and ovary, and poorly in the skeletal muscle, spleen, thymus, brain, and peripheral leukocytes. The possible role of this gene in RNA metabolism is discussed.

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Interleukin (IL) 2 signaling requires the dimerization of the IL-2 receptor beta (IL-2R beta) and common gamma (gamma c) chains. The gamma is also a component of the receptors for IL-4, IL-7, and IL-9. To assess the extent and role of the receptor signal transducing system utilizing the gamma c chain on human intestinal epithelial cells, the expression of gamma c, IL-2R beta, and receptor chains specific for IL-4, IL-7, and IL-9 was assessed by reverse transcription-coupled PCR on human intestinal epithelial cell lines and on isolated primary human intestinal epithelial cells. Caco-2, HT-29, and T-84 cells were found to express transcripts for the gamma c and IL-4R chains constitutively. IL-2R beta chain expression was demonstrated in Caco-2 and HT-29 but not in T-84 cells. None of the cell lines expressed mRNA for the IL-2R alpha chain. After stimulation with epidermal growth factor for 24 h Caco-2, HT-29, and T-84 cells expressed transcripts for IL-7R. In addition, Caco-2 and HT-29 cells expressed mRNA for the IL-9R. Receptors for IL-2, IL-4, IL-7, and IL-9 on intestinal epithelial cells lines appeared to be functional; stimulation with these cytokines caused rapid tyrosine phosphorylation of proteins. The relevance of the observations in intestinal epithelial cell lines for intestinal epithelial function in vivo was supported by the demonstration of transcripts for gamma c, IL-2R beta, IL-4R, IL-7R, and IL-9R in primary human intestinal epithelial cells.

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To provide more efficient and flexible alternatives for the applications of secret sharing schemes, this paper describes a threshold sharing scheme based on exponentiation of matrices in Galois fields. A significant characteristic of the proposed scheme is that each participant has to keep only one master secret share which can be used to reconstruct different group secrets according to the number of threshold values.

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These days as we are facing extremely powerful attacks on servers over the Internet (say, by the Advanced Persistent Threat attackers or by Surveillance by powerful adversary), Shamir has claimed that “Cryptography is Ineffective”and some understood it as “Cryptography is Dead!” In this talk I will discuss the implications on cryptographic systems design while facing such strong adversaries. Is crypto dead or we need to design it better, taking into account, mathematical constraints, but also systems vulnerability constraints. Can crypto be effective at all when your computer or your cloud is penetrated? What is lost and what can be saved? These are very basic issues at this point of time, when we are facing potential loss of privacy and security.

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In 2013 the European Council for the first time since long will deal with European defence. An excellent opportunity: to move key Pooling & Sharing projects to the implementation stage in the short term, and to launch a permanent and structured approach to the development of European military capabilities for the long term.