Search results for "Cash"

Cash-for-childcare. The consequences for caring mothers

2012

A note on fair value accounting in a crisis: The influence of the hedge accounting regulations

2010

Published version of an article published in the journal: Business and Economics Journal. Also available from the publisher at: http://astonjournals.com/manuscripts/Vol2010/BEJ-13_Vol2010.pdf The role of fair value accounting in the financial crisis is contorversial and heavily debated. Some claim that fair value accounting of financial instruments contributed to the recent crisis. This note acknowledges that, in many industries, a significant proportion of the financial instruments are entered into for hedging purposes. I examine if a crisis through the hedge accounting regulations, can affect the overall use og fair value accounting in an economy. I present analytical evidence that the bo…

Exploring Countercyclical Fiscal Policy in Local Government: Moving Beyond an Aggregated Approach

2014

There is a renewed interest in the fiscal health of local governments in the United States, which is being driven in part by academic research, professional organizations, and the economy. This renewed interest also includes how local governments use their cash reserves for countercyclical fiscal policy, which is a stream of research that has received minimal attention in the literature. We respond in this article by exploring how 97 North Carolina counties used their cash reserves from 2005 to 2012, which includes the great recession of 2008 and 2009. Our findings provide some evidence of countercyclical fiscal policy in local government when exploring the use of cash reserves from an aggr…

Agricultural feedstocks of two Brassica oilseed crops and energy cogeneration with pure vegetable oil for a sustainable short agro-energy chain in Si…

2018

Abstract Potential energy feedstocks from conventional agriculture usually include pure vegetable oil (PVO) and agricultural/forest residues. Their uses can represent a starting point for the development of short agro-energy chains in the south areas of the Mediterranean region. This paper focused on testing and awareness raising of biofuel production for the cogeneration of electricity and heat from PVO of two Brassica oilseed crops in Sicily (Italy). The main aims of this study were: i) to evaluate the agronomic performance of rapeseed (Brassica napus L. var. oleifera D.C.) and Ethiopian mustard (Brassica carinata A. Braun) in semi-arid climate condition; ii) to analyze the quality of PVO…

Free Cash Flow and the Governance of French Firms (Free Cash Flow Et Gouvernance Des Entreprises Françaises)

2008

The limitation of the problem of free cash flow depends on the efficiency of governance mechanisms. In our study, we chose four main governance mechanisms, namely debt, the distribution of dividends, boards of directors and ownership structure. On the basis of a sample of 94 French firms in 2004, the results show that sustained distribution of dividends, a small-sized board of directors and some level of share-ownership by board members and managers are necessary conditions to the resolution of free cash flow. External directors and controlling interests act on free cash flow risk rather indirectly by favouring a massive distribution of dividends. The CEO/chairman duality produces the oppos…

Parametric measurement of partial damage in building.

2015

The valuation of the property damage is a double appraisal that considers a before situation and an after situation to the damage, reported both to the same moment. An elementary measure of the partial damage is represented, in a first approximation, by the restoration’s cost, when the return of the original situation is possible and economically profitable, this last circumstance imposes that the cost is great or equal to the suffered damage. In the building practice, the restoration of the buildings is often combined with operations of substitution and integration. For the indemnity of the partial damage, the restoration’s cost also includes the lost incomes of the property for the period…

The determinants of increasing equity market comovement: economic or financial integration?

2010

This paper investigates to what extent the substantial increase in exposures of local European equity market returns to global shocks is mainly due to a convergence in cash flows (“economic integration”), to a convergence in discount rates (“financial integration”), or to both. We find that this increased exposure is nearly entirely due to increasing discount-rate betas. This finding is robust to alternative ways of calculating discount-rate and cash-flow shocks.

Effects of plant type on two strawberry cultivars in Sicily

2014

In Sicily fresh plants have for years been replacing the once popular cold-stored ones. Good early cropping is the aim of all strawberry growers in the island’s Marsala district. The present trial tested the response of the new strawberry cultivars ‘Sabrosa’ and ‘Florida Fortuna’ using fresh plug and bare-root plants. ‘Florida Fortuna’ plug-plants turned out to be the most promising type as a cash crop in delivering extra early ripening.

The value relevance of losses revisited: the importance of earnings aggregation

2011

Accepted version of an article published in the journal: Global Business and Economics Review. Also available from the publisher at: http://dx.doi.org/10.1504/GBER.2011.040728 Prior research has suggested that earnings explain a larger portion of the variation in stock returns when disaggregated into components. This study shows that the increase in explanatory power stems primarily from disaggregation of negative earnings. When accounting earnings are sufficiently disaggregated into items, there is no longer a statistical difference in the value relevance of positive and negative earnings. Thus, negative earnings are also useful to stock investors. The findings are attributed to earnings p…

Cogeneration plant in a pasta factory: Energy saving and environmental benefit

2007

Abstract Italy produces approximately 4,520,000 tons of pasta annually, which is about 67% of its total productive potential. As factories need electric and thermal energy simultaneously, combined heat and power (CHP) systems are the most suitable. This paper describes a feasibility study of a CHP plant in a pasta factory in Italy while analyzing energy saving and environmental benefits. Commercially available CHP systems suitable for the power range of energy demand in pasta production use reciprocating engines or gas turbines. This study demonstrates how their use can reduce both energy costs and CO2 equivalent greenhouse gas emission in the environment. An economic analysis was performed…