Search results for "Financing"
showing 10 items of 96 documents
Risk Management for Sovereign Debt Financing with Sustainability Conditions
2019
We develop a model of debt sustainability analysis with optimal financing decisions in the presence of macroeconomic, financial and fiscal uncertainty. We define a coherent measure of refinancing risk, and trade off the risks of debt stock and flow dynamics, subject to debt sustainability constraints and endogenous risk and term premia. We optimize both static and dynamic financing strategies, compare them with several simple rules and consol financing to demonstrate economically significant effects of optimal financing, and show that the stock-flow tradeoff can be critical for sustainability. We quantify the minimum refinancing risk and the maximum rate of debt reduction that a sovereign c…
Challenges on accessing finance for micro-enterprises in Latvia
2021
Financial support of companies for their development is considered and realised by many countries worldwide, also in Latvia. Latvia has been receiving critical remarks from entrepreneurs in regard to high level of refuse for financing from the financing institution ALTUM which is the principal intermediary of EU funds and provides resources to support entrepreneurship in Latvia. Statistical data indicate that there are significant reductions of micro-enterprises during recent years. The survey data showed that ALTUM rejected 39 % of the surveyed micro-enterprises from those who had submitted applications within three years. In turn, only 6 % of micro-enterprises have received full financing…
Problems and perspectives of ophthalmic research in Germany: results from a national survey.
2013
<b><i>Purpose:</i></b> To identify and describe the most relevant obstacles to carrying out ophthalmic research in Germany. <b><i>Methods:</i></b> Two research methods were used to assess current problems in ophthalmic research. First, 55 expert interviews were conducted with major stakeholders in ophthalmic research, and key problems were identified. An online questionnaire was then sent to 3,080 German ophthalmologists, of whom 927 responded by evaluating the current research situation within ophthalmology in Germany. We devised a score to rank areas of concern by multiplying the responders' rate, ranging between -3 (‘I disagree completely')…
Spain: a decentralised health system in constant flux
2009
The Spanish healthcare system is one of Europe’s most efficient, but urgent reform is needed if it is to cope with changing demands and rising costs, argue Jose M Martin-Moreno and colleagues
Policy on palliative care in the WHO European region: an overview of progress since the Council of Europe’s (2003) recommendation 24
2015
Background: With the goal of achieving greater unity and coherence, the Council of Europe developed a national palliative care (PC) policy framework—Recommendation (2003) 24. Although directed at member states, the policy spread to the wider World Health Organisation (WHO) European Region. This article aims to present the current situation relating to national PC health policies in European countries. Methods: A cross-sectional survey was conducted in 53 European countries of the WHO European Region. Relevant data reported (i) the existence of official documents concerning the provision of PC; (ii) the role of health departments and policymakers in the evaluation of PC provision and (iii) t…
Uneven economic burden of non-communicable diseases among Indian households: A comparative analysis
2021
Background Non-communicable diseases (NCDs) are the leading global cause of death and disproportionately concentrate among those living in low-income and middle-income countries. However, its economic impact on households remains less well known in the Indian context. This study aims to assess the economic impact of NCDs in terms of out-of-pocket expenditure (OOPE) and its catastrophic impact on NCDs affected households in India. Materials and methods Data were collected from the 75th round of the National Sample Survey Office, Government of India, conducted in the year 2017–18. This is the latest round of data available on health, which constitutes a sample of 113,823 households. The coll…
From the crowd to the market: The role of reward-based crowdfunding performance in attracting professional investors
2017
Abstract We focus on new technology-based entrepreneurial ventures engaging in reward-based crowdfunding and examine the effect of their performance in such funding channel on the likelihood of securing subsequent funding from professional investors. We also study how this effect is influenced by the presence of patents granted for the new product idea and the entrepreneur social capital. Results from a sample of technology projects launched on Kickstarter demonstrate that pledging a higher amount of money in crowdfunding can ignite professional investors’ interest and thus help secure subsequent funding. However, this positive evidence is effective only when complemented by the presence of…
L’actionnariat des salariés influencet-il la rémunération des dirigeants ?
2017
International audience; Cet article étudie la relation entre les composantes variables de la rémunération en actions de l’entreprise des dirigeants et des actionnaires salariés. En utilisant un échantillon de données issu du SBF 120 sur la période 2004-2009, nous étudions en particulier : (i) la relation entre le montant des stock-options attribuées aux dirigeants et l’actionnariat salarié ; (ii) la relation entre le rapport du montant des stock-options sur la rémunération totale des dirigeants et l’actionnariat salarié. La relation est significativement négative dans les deux cas montrant que l’actionnariat salarié tend à limiter la composante stok-options de la rémunération des dirigeants…
L’actionnariat des salariés influence-t-il la rémunération des dirigeants ?
2017
International audience; Cet article étudie la relation entre les composantes variables de la rémunération en actions de l’entreprise des dirigeants et des actionnaires salariés. En utilisant un échantillon de données issu du SBF 120 sur la période 2004-2009, nous étudions en particulier : (i) la relation entre le montant des stock-options attribuées aux dirigeants et l’actionnariat salarié ; (ii) la relation entre le rapport du montant des stock-options sur la rémunération totale des dirigeants et l’actionnariat salarié. La relation est significativement négative dans les deux cas montrant que l’actionnariat salarié tend à limiter la composante stok-options de la rémunération des dirigeants…
On the Returns to Invention within Firms: Evidence from Finland
2018
International audience; In this paper we merge individual income data, firm-level data, patenting data, and IQ data in Finland over the period 1988–2012 to analyze the returns to invention for inventors and their coworkers or stakeholders within the same firm. We find that: (i) inventors collect only 8 percent of the total private return from invention; (ii) entrepreneurs get over 44 percent of the total gains; (iii) bluecollar workers get about 26 percent of the gains and the rest goes to white-collar workers. Moreover, entrepreneurs start with significant negative returns prior to the patent application, but their returns subsequently become highly positive.