955 resultados para Capital budgeting method


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This study consists of a study on the presence of relationship between social capital and solidarity groups to endorse the Center for Support to Small Businesses - CEAPE - PI, the capital was measured by confidence levels and associations, considering trust as the expectations want, and learned associations between people and how the interactions among members within a group and between groups. The central research question seeks to identify whether there are linkages between the levels of social capital and the profile of members of the solidarity group CEAPE-PI. The overall objective is to analyze the level of social capital and whether these vary with the change in the profile of the solidarity group members. The method adopted in perspective cross-examined the level of social capital found in 300 of solidarity group members, collected through a survey research related to the profile of the solidarity group members, obtained with the CEAPEPI. The data show that micro-credit groups have relatively high levels for most variables, but to relate to the profile of microcredit results demonstrate the interesting points of analysis

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This article presents a thermoeconomic analysis of cogeneration plants, applied as a rational technique to produce electric power and saturated steam. The aim of this new methodology is the minimum Exergetic Production Cost (EPC), based on the Second Law of Thermodynamics. The variables selected for the optimization are the pressure and the temperature of the steam leaving the boiler in the case of using steam turbine, and the pressure ratio, turbine exhaust temperature and mass flow in the case of using gas turbines. The equations for calculating the capital costs of the components and products are formulated as a function of these decision variables. An application of the method using real data of a multinational chemical industry located in São Paulo state is presented. The conditions which establish the minimum cost are presented as final output. (C) 2003 Elsevier Ltd. All rights reserved.

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Incluye Bibliografía

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Uma nova tendência em termos de ações para o desenvolvimento vem se configurando. Trata-se de ações que levam em conta o território e seus atores. Nesse âmbito, insere-se a metodologia de indução do Desenvolvimento Local Integrado e Sustentável (DLIS). Esse Programa de política pública se constitui uma estratégia participativa de indução do desenvolvimento, pela qual se mobilizam recursos das comunidades, que em parceria com o Estado (em seus três níveis) e o mercado, realizam diagnósticos, identificam potencialidades e vocações, elaboram planos integrados de desenvolvimento, na perspectiva de envolvimento dos sujeitos como proponentes e protagonistas da ação social em seus territórios. Com este trabalho, buscou-se compreender a multidimensionalidade do processo de DLIS, no estado de Roraima, procurando, ao mesmo tempo, o estabelecimento de um nexo causal entre as trajetórias sócio-econômicas (resultados) do DLIS e o capital social. A pesquisa se enquadrou na modalidade qualitativa. Adotou-se como estratégia metodológica o estudo de caso, envolvendo os municípios de Rorainópolis, Uiramutã, Baliza e Pacaraima. Três dimensões analítico-contextuais foram adotadas, quais sejam: conceitual, de implementação e de impacto. Na avaliação do capital social, as variáveis participação, confiança, cooperação e redes foram consideradas. Na interpretação dos dados, as seguintes abordagens foram utilizadas: análise contextual, análise descritiva, análise das diferenças de proporções e análise de correspondência. Os resultados da pesquisa revelaram que alguns conceitos e categorias adotados pelo Programa, embora relevantes, apresentam alguma ordem de problema. Dois municípios, Rorainópolis e Uiramutã, foram considerados municípios de bons resultados. Isso porque atenderam a um conjunto de questões que expressavam condições desejáveis para que o desenvolvimento local integrado e sustentável, em suas múltiplas dimensões, se efetivasse. Por seu turno, os municípios de Baliza e Pacaraima foram classificados como municípios de maus resultados. Os resultados do DLIS em Rorainópolis e Uiramutã estão associados ao capital social (relação positiva). A despeito da extensa literatura que trata da relevância desse tema, não se têm, ainda, instrumentos satisfatórios para medir capital social. Nesse contexto, entendese que estes resultados representam, de fato, uma aproximação.

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We use micro data to analyse the effect of human capital externality on earnings and private returns to education. The earnings equations are estimated using the OLS method for a sample of full-time workers. The results show that human capital has a positive effect on earnings, indicating that an increase in education benefits all workers. However, men benefit more from women's education than the women do from men's. The effects of human capital externality on private returns to schooling are shown to vary substantially between rural and urban areas and across levels of the education system.

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This paper presents an automatic strategy to decide how to pronounce a Capital Letter Sequence (CLS) in a Text to Speech system (TTS). If CLS is well known by the TTS, it can be expanded in several words. But when the CLS is unknown, the system has two alternatives: spelling it (abbreviation) or pronouncing it as a new word (acronym). In Spanish, there is a high relationship between letters and phonemes. Because of this, when a CLS is similar to other words in Spanish, there is a high tendency to pronounce it as a standard word. This paper proposes an automatic method for detecting acronyms. Additionaly, this paper analyses the discrimination capability of some features, and several strategies for combining them in order to obtain the best classifier. For the best classifier, the classification error is 8.45%. About the feature analysis, the best features have been the Letter Sequence Perplexity and the Average N-gram order.

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This paper investigates the impacts of high interest rates for borrowed capital and credit restrictions on the structural development of four European regions. The method used is the model AgriPoliS which is a spatial-dynamic agent-based model. It is able to provide aggregated results at the regional level, but very individual results as well by considering farms as independent entities. Farms can choose between different investment options during the simulation. Several scenarios with different interest rates for borrowed capital on the one hand as well as with different levels of credit restrictions on the other hand are tested and compared. Results show that higher interest rates have less impact on declining production branches than on expanding ones. If they have the possibility farms invest in the most profitable production branch which relative profitability might have changed with high interest rates. Credit restrictions lead farms to choose smaller and cheaper investments than expensive and large ones. Results also show that income losses in both cases due to under-investment compared to the reference situation are partially compensated by lower rental prices. The impacts on structural change also differ depending on the region and the initial situation. In summary, credit subsidies or imperfections on credit markets might have indirect impacts on the type of dominant investment and therefore on the whole regional agricultural sector as well.

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This research extends the consumer-based brand equity measurement approach to the measurement of the equity associated with retailers. This paper also addresses some of the limitations associated with current retailer equity measurement such as a lack of clarity regarding its nature and dimensionality. We conceptualise retailer equity as a four-dimensional construct comprising retailer awareness, retailer associations, perceived retailer quality, and retailer loyalty. The paper reports the result of an empirical study of a convenience sample of 601 shopping mall consumers at an Australian state capital city. Following a confirmatory factor analysis using structural equation modelling to examine the dimensionality of the retailer equity construct, the proposed model is tested for two retailer categories: department stores and speciality stores. Results confirm the hypothesised four-dimensional structure.

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The purpose of this study is to assess the effect of relative familiarity and language accessibility on the International Accounting Standards (IASs) disclosures when IASs are first introduced in an emerging capital market. The study focuses on the annual reports of listed non-financial companies in Egypt when IASs were first introduced. The method used applies a disclosure index measurement to a sample of listed company annual reports and evaluates relative compliance with IASs in relation to corporate characteristics. The results show that for relatively less familiar requirements of IASs, the extent of compliance is related to the type of audit firm used and to the presence of a specific statement of compliance with IASs. A lower degree of compliance with less familiar IASs disclosure is observed consistently across a range of company characteristics. Consideration of agency theory and capital need theory would lead to prior expectation of a distinction in disclosure practices between different categories of companies. The results were, therefore, counterintuitive to expectations where the regulations were unfamiliar or not available in the native language, indicating that new variables have to be considered and additional theoretical explanations have to be found in future disclosure studies on emerging capital markets.

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The paper examines the capital structure adjustment dynamics of listed non-financial corporations in seven east Asian countries before, during and after the crisis of 1997–1998. Our methodology allows for speeds of adjustment to vary, not only among firms, but also over time, distinguishing between cases of sudden and smooth adjustment.Whereas, compared with firms in the least affected countries, average leverages were much higher, generalized method-ofmoments analysis of the Worldscope panel data suggests that average speeds of adjustment were lower in the worst affected countries. This holds also for the severely financially distressed firms in some worst affected countries, though the trend reversed in the post-crisis period. These findings have important implications for the regulatory environment as well as access to market finance.

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Most of the previous studies on intellectual capital disclosures have been conducted from developed countries' context. There is very limited empirical evidence in this area from the context of emerging economies in general and Africa in particular. This paper is one of the early attempts in this regard. The main purpose of this study is to examine the extent and nature of intellectual capitaldisclosures in ‘Top 20’ South African companies over a 5 years period (2002–2006). The study uses content analysis method to scrutinise the patterns of intellectual capital disclosures during the study period. The results show that intellectual capital disclosures in South Africa have increased over the 5 years study period with certain firms reporting considerably more than others. Out of the three broad categories of intellectual capital disclosures human capital appears to be the most popular category. This finding stands in sharp contrast to the previous studies in this area where external capital was found to be most popular category.

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An increasing number of organisational researchers have turned to social capital theory in an attempt to better understand the impetus for knowledge sharing at the individual and organisational level. This thesis extends that research by investigating the impact of social capital on knowledge sharing at the group-level in the organisational project context. The objective of the thesis is to investigate the importance of social capital in fostering tacit knowledge sharing among the team members of a project. The analytical focus is on the Nahapiet and Ghoshal framework of social capital but also includes elements of other scholars' work. In brief, social capital is defined as an asset that is embedded in the network of relationships possessed by an individual or social unit. It is argued that the main dimensions of social capital that are of relevance to knowledge sharing are structural, cognitive, and relational because these, among other things, foster the exchange and combination of knowledge and resources among the team members. Empirically, the study is based on the grounded theory method. Data were collected from five projects in large, medium, and small ICT companies in Malaysia. Underpinned by the constant comparative method, data were derived from 55 interviews, and observations. The data were analysed using open, axial, and selective coding. The analysis also involved counting frequency occurrence from the coding generated by grounded theory to find the important items and categories under social capital dimensions and knowledge sharing, and for further explaining sub-groups within the data. The analysis shows that the most important dimension for tacit knowledge sharing is structural capital. Most importantly, the findings also suggest that structural capital is a prerequisite of cognitive capital and relational capital at the group-level in an organisational project. It also found that in a project context, relational capital is hard to realise because it requires time and frequent interactions among the team members. The findings from quantitative analysis show that frequent meetings and interactions, relationship, positions, shared visions, shared objectives, and collaboration are among the factors that foster the sharing of tacit knowledge among the team members. In conclusion, the present study adds to the existing literature on social capital in two main ways. Firstly, it distinguishes the dimensions of social capital and identifies that structural capital is the most important dimension in social capital and it is a prerequisite of cognitive and relational capital in a project context. Secondly, it identifies the causal sequence in the dimension of social capital suggesting avenues for further theoretical and empirical work in this emerging area of inquiry.

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The aim of this thesis is to examine the specific contextual factors affecting the applicability and development of the planning, programming, budgeting system (P.P.B.S.) as a systems approach to public sector budgeting. The concept of P.P.B.S. as a systems approach to public sector budgeting will first be developed and the preliminary hypothesis that general contextual factors may be classified under political, structural and cognitive headings will be put forward. This preliminary hypothesis will be developed and refined using American and early British experience. The refined hypothesis will then be tested in detail in the case of the English health and personal social services (H.P.S.S.), The reasons for this focus are that it is the most recent, the sole remaining, and the most significant example in British central government outside of defence, and is fairly representative of non-defence government programme areas. The method of data collection relies on the examination of unpublished and difficult to obtain central government, health and local authority documents, and interviews with senior civil servants and public officials. The conclusion will be that the political constraints on, or factors affecting P.P.B.S., vary with product characteristics and cultural imperatives on pluralistic decision-making; that structural constraints vary with the degree of coincidence of programme and organisation structure and with the degree of controllability of the organisation; and finally, that cognitive constraints vary according to product characteristics, organisational responsibilities, and analytical effort.

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The need for an adequate information system for the Highways Departments in the United Kingdom has been recognised by the report of a committee presented to the Minister of Transport in 1970, (The Marshall Report). This research aims to present a comprehensive information system on a sound theoretical basis which should enable the different levels of management to execute their work adequately. The suggested system presented in this research covers the different functions of the Highways Department, and presents a suggested solution for problems which may occur during the planning and controlling of work in the different locations of the Highways Department. The information system consists of:- 1. A coding system covering the cost units, cost centres and cost elements. 2. Cost accounting records for the cost units and cost centres. 3. A budgeting and budgetary control system covering, the different planning methods and procedures which are required for preparing the capital expenditure budget, the improvement and maintenance operation flexible budgets and programme of work, the plant budget, the administration budget, and the purchasing budget. 4. A reporting system which ensures that the different levels of management are receiving relevant and timely information. 5. The flow of documents which covers the relationship between the prime documents, the cost accounting records, budgets, reports and their relation to the different sections and offices within the department. A comprehensive cost units, cost centres, and cost elements codes together with a number of examples demonstrating the results of the survey, and examples of the application and procedures of the suggested information system have been illustrated separately as appendices. The emphasis is on the information required for internal control by management personnel within the County Council.

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Renewable energy project development is highly complex and success is by no means guaranteed. Decisions are often made with approximate or uncertain information yet the current methods employed by decision-makers do not necessarily accommodate this. Levelised energy costs (LEC) are one such commonly applied measure utilised within the energy industry to assess the viability of potential projects and inform policy. The research proposes a method for achieving this by enhancing the traditional discounting LEC measure with fuzzy set theory. Furthermore, the research develops the fuzzy LEC (F-LEC) methodology to incorporate the cost of financing a project from debt and equity sources. Applied to an example bioenergy project, the research demonstrates the benefit of incorporating fuzziness for project viability, optimal capital structure and key variable sensitivity analysis decision-making. The proposed method contributes by incorporating uncertain and approximate information to the widely utilised LEC measure and by being applicable to a wide range of energy project viability decisions. © 2013 Elsevier Ltd. All rights reserved.