986 resultados para faillite, special purpose vehicle, Pfandbrief, asset-backed securities, investment fund


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In this paper the technique of shorter route determination of fire engine to the fire place on time minimization criterion with the use of evolutionary modeling is offered. The algorithm of its realization on the base of complete and optimized space of search of possible decisions is explored. The aspects of goal function forming and program realization of method having a special purpose are considered. Experimental verification is executed and the results of comparative analysis with the expert conclusions are considered.

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A novel framework for modelling biomolecular systems at multiple scales in space and time simultaneously is described. The atomistic molecular dynamics representation is smoothly connected with a statistical continuum hydrodynamics description. The system behaves correctly at the limits of pure molecular dynamics (hydrodynamics) and at the intermediate regimes when the atoms move partly as atomistic particles, and at the same time follow the hydrodynamic flows. The corresponding contributions are controlled by a parameter, which is defined as an arbitrary function of space and time, thus, allowing an effective separation of the atomistic 'core' and continuum 'environment'. To fill the scale gap between the atomistic and the continuum representations our special purpose computer for molecular dynamics, MDGRAPE-4, as well as GPU-based computing were used for developing the framework. These hardware developments also include interactive molecular dynamics simulations that allow intervention of the modelling through force-feedback devices.

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Виржиния С. Кирякова - В този обзор илюстрираме накратко наши приноси към обобщенията на дробното смятане (анализ) като теория на операторите за интегриране и диференциране от произволен (дробен) ред, на класическите специални функции и на интегралните трансформации от лапласов тип. Показано е, че тези три области на анализа са тясно свързани и взаимно индуцират своето възникване и по-нататъшно развитие. За конкретните твърдения, доказателства и примери, вж. Литературата.

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Switched reluctance motors (SRMs) can provide an attractive traction drive for electric vehicle applications. To lower the investment in the off-board charging station facilities, a multi-functional switched reluctance motor topology is proposed on the basis of the traditional asymmetrical half-bridge converter. The SRM phase windings are employed as input filter inductors and centre-tapped windings are also developed to form symmetrical inductors for three-phase grid supply. Owing to the varying rotor position, phase inductors are unequal between one another. A hysteresis control scheme is therefore developed for grid-connection operation. In addition to AC supplies, the proposed topology can also supports the DC-source charging. A new current sharing strategy is employed to diminish the influence of the unequal winding inductances. The simulation and experimental tests are carried out to verify the proposed topology and control methods. Since this work eliminates the need for building charging station infrastructure, its potential economic impact on the automotive market can be significant.

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In an effort to reduce the cost and size of government public service delivery has become more decentralized, flexible and responsive. Public entrepreneurship entailed, among other things, the establishment of special-purpose governments to finance public services and carry out development projects. Community Development Districts (CDDs) are a type of special-purpose governments whose purpose is to manage and finance infrastructure improvements in the State of Florida. They have important implications for the way both growth management and service delivery occur in the United States. This study examined the role of CDDs for growth management policy and service delivery by analyzing the CDD profile and activity, the contribution of CDDs to the growth management and infrastructure development as well as the way CDD perceived pluses and minuses impact service delivery. The study used a mixed methods research approach, drawing on secondary data pertaining to CDD features and activity, semi-structured interviews with CDD representatives and public officials as well as on a survey of public officials within the counties and cities that have established CDDs. Findings indicated that the CDD institutional model is both a policy and a service delivery tool for infrastructure provision that can be adopted by states across the United States. Results showed that CDDs inhibit rather than foster growth management through their location choices, type and pattern of development. CDDs contributed to the infrastructure development in Florida by providing basic infrastructure services for the development they supported and by building and dedicating facilities to general-purpose governments. Districts were found to be both funding mechanisms and management tools for infrastructure services. The study also pointed to the fact that specialized governance is more responsive and more flexible but less effective than general-purpose governance when delivering services. CDDs were perceived as being favorable for developers and residents and not as favorable for general-purpose governments. Overall results indicated that the CDD is a flexible institutional mechanism for infrastructure delivery which has both advantages and disadvantages. Decision-makers should balance districts’ institutional flexibility with their unintended consequences for growth management when considering urban public policies.

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Commercial Mortgage Backed Securities (CMBSs) introduced to the U.S. lodging industry in the early 1990’s were a panacea during a period of severe shortage of debt capital. These instruments changed commercial real estate capital markets by providing flexibility and liquidity to an otherwise illiquid investment As a relatively new form of financing to the lodging industry, the mechanics of securitization, the types of CMBS investments, and their structure are not well understood. The article illustrates the process of securitization and its importance as a significant source of debt financing to the lodging industry

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In the early 1990s, the U.S. lodging industry witnessed a severe shortage of debt capital as traditional lenders exited the market. During this period hotel lending was revolutionized by the emergence of real estate debt securities. The author discusses key factors which have affected the growth and development of commercial mortgage backed securities and their changing role as a significant source of debt capital to the lodging industry.

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The Financial Accounting Standards Board (FASB) issued Interpretation No. 46 (FIN 46), Consolidation of Variable Interest Entities – An Interpretation of ARB No. 51, in January 2003 and revised it in December 2003, with the objective to improve the transparency of financial information. Under FIN 46, companies are required to consolidate variable interest entities (VIEs) on financial statements if they are the primary beneficiaries of the VIEs. This dissertation empirically examines whether the implementation of this new financial reporting guidance affects firms’ accruals quality and investment efficiency. A manually collected sample comprised of firms affected by FIN 46 and firms disclosing no material impact from FIN 46 is used in the empirical analyses.The first part of the dissertation investigates the effects of FIN 46 on accruals quality. By using different accrual quality measures in prior studies, this study found that firms affected by FIN 46 experienced a decrease in accrual quality compared to firms reporting no material impact from FIN 46. Among the firms affected by FIN 46, firms consolidating VIEs were compared with firms terminating or restructuring VIEs. The accruals quality of firms consolidating VIEs was found to be lower than that of firms terminating or restructuring VIEs. These results are consistent in tests using alternative control samples.The second part of this dissertation examines the effects of FIN 46 on investment efficiency. Mixed results were found from using two different proxies used in prior literature. Using the investment-cash flow sensitivity to proxy for investment efficiency, firms affected by FIN 46 experienced a decrease in investment efficiency compared to firms reporting no material impact. It was also found that higher investment-cash flow sensitivity for firms consolidating VIEs during post-FIN 46 periods compared to both the no-impact firms and the matched pair control sample. Contrasting results were found when the deviation from expected investment is used as another proxy for investment efficiency. Empirical analyses show that FIN 46 firms experienced improved investment efficiency measured by the deviation from expected investment after their adoption of FIN 46. This study also provides explanations for the opposite results from the two different proxies.

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Reliability has emerged as a critical design constraint especially in memories. Designers are going to great lengths to guarantee fault free operation of the underlying silicon by adopting redundancy-based techniques, which essentially try to detect and correct every single error. However, such techniques come at a cost of large area, power and performance overheads which making many researchers to doubt their efficiency especially for error resilient systems where 100% accuracy is not always required. In this paper, we present an alternative method focusing on the confinement of the resulting output error induced by any reliability issues. By focusing on memory faults, rather than correcting every single error the proposed method exploits the statistical characteristics of any target application and replaces any erroneous data with the best available estimate of that data. To realize the proposed method a RISC processor is augmented with custom instructions and special-purpose functional units. We apply the method on the proposed enhanced processor by studying the statistical characteristics of the various algorithms involved in a popular multimedia application. Our experimental results show that in contrast to state-of-the-art fault tolerance approaches, we are able to reduce runtime and area overhead by 71.3% and 83.3% respectively.

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Dissertação (mestrado)—Universidade de Brasília, Faculdade de Direito, Programa de Pós-Graduação em Direito, 2016.

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A presente pesquisa tem como objetivo caracterizar o investimento materno e a história reprodutiva de mães que vivem em diferentes contextos. Para tal, 150 mães que residiam em três contextos com diferentes graus de urbanização foram entrevistadas. Por meio da análise estatística dos dados constatou-se que houve diferenças significativas entre os contextos, além de correlações positivas entre os núcleos reprodutivos, como idade da primeira relação sexual e idade da mãe no nascimento do primeiro filho. Conclui-se que as estratégias reprodutivas são influenciadas pela história de vida das mães, das condições sociodemográficas atuais e do contexto onde vivem.

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There is concern that Pacific Island economies dependent on remittances of migrants will endure foreign exchange shortages and falling living standards as remittance levels fall because of lower migration rates and the belief that migrants' willingness to remit declines over time. The empirical validity of the remittance-decay hypothesis has never been tested. From survey data on Tongan and Western Samoan migrants in Sydney, this paper estimates remittance functions using multivariate regression analysis. It is found that the remittance-decay hypothesis has no empirical validity, and migrants are motivated by factors other than altruistic family support, including asset accumulation and investment back home.

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There is concern that Pacific island economies dependent on remittances of migrants will endure foreign exchange shortages and declining Living standards as remittance levels drop due to lower migration rates and the belief that migrants' willingness to remit decreases over time. The empirical validity of the remittance-decay hypothesis has never been tested. From survey data on Tongan and Western Samoan migrants in Sydney, this paper estimates remittance functions using Tobit regression analysis. It is found that the remittance-decay hypothesis has no empirical validity and migrants are motivated by factors other than altruistic family support, including asset accumulation and investment back home. (C) 1997 Elsevier Science Ltd.

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Mestrado em Contabilidade e Gestão das Instituições Financeiras

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This study proposes a systematic model that is able to fit the Global Macro Investing universe. The Analog Model tests the possibility of capturing the likelihood of an optimal investment allocation based on similarity across different periods in history. Instead of observing Macroeconomic data, the model uses financial markets’ variables to classify unknown short-term regimes. This methodology is particularly relevant considering that asset classes and investment strategies react differently to specific macro environment shifts.