Search results for "revenue"
showing 10 items of 179 documents
Current state of water management in Japan
2014
Financial sustainability of water utilities is essential to guarantee the provision of high quality services. The aims of this paper are to review the current state of water management in Japan and to identify the main difficulties which confront Japanese water utilities. As the facilities built when the country expanded water utilities rapidly are drawing near the renewal period concurrently, water operators must quickly accelerate facility renewal work. The statistical data from the Japan Water Works Association illustrate that one of the most significant challenges facing Japanese water utilities is to finance investments to renew facilities and to prepare them for earthquakes. Difficult…
Private–Public Partnerships as Strategic Alliances
2008
A new approach to the design of concession contracts of port infrastructures that adapts some of the methods used in the design and start-up of strategic alliances is presented. From a cost–benefit analysis of the project, based on the industry benchmarks, a revenue-sharing model dependent on the investment interest and the risk undertaken or transferred by each partner was formulated. This model aids in the calculation of the amount of the canons (lease and royalty charges) that should be stated in the contract. Also, to avoid complicated renegotiations and undesired deadlock situations, methods are presented for the dynamic actualization of such canons according to changes that might occ…
Revenues from related Parties Transactions and UEFA Financial Fair Play. The Search for an Alternative Solution to Fair Value Measurement for the Bre…
2014
Transactions with related parties (RPTs) are numerous and frequent in the economy of companies; they are often made with different values from the ones in arm’s length transactions, and sometimes for opportunistic reasons. Many cases of RPTs occur in the football sector too, and they are mostly related to sponsorship contracts revenues. Through the financial fair play regulations, UEFA encourages the clubs which want to get the license for competing in European tournaments, to count on their capability to operate on the basis of their own revenues. The reorientation of the professional football clubs economic governance requested by UEFA also provides specific RPTs disclosure as well as the…
Optimal lending contracts
2016
This paper deals with financial contracting between a lender and a borrower with a project to finance. The borrower is protected by limited liability. We consider that the revenue from the project is observable and verifiable but its distribution is influenced by both the borrower’s choice of action and the project’s quality, which are private information. We find that debt contracts are endogenously optimal, as under moral hazard alone. Moreover, while moral hazard leads to credit rationing for the lowest-quality projects only, adding adverse selection creates a bang-bang result: either all projects or none are credit rationed.
Mobility Fee—Creating Better Cities, Creating a Better Future!
2021
The following paper explores an alternative to financing public transportation in densely populated urban areas through ticket sales as a possible incentive to increase the usage of public transportation with the intent of reducing car traffic and pollution in urban spaces. It addresses the option of collecting a “mobility fee” from residents of an area to replace the revenue generated by ticket sales. Since the fee as it is envisioned in this paper would be collected from residents regardless of whether they actually use public transportation, this method would result in the usage of public transportation itself not being associated with any additional monetary cost. The text elaborates on…
Improving energy efficiency of commercial buildings by Combined Heat Cooling and Power plants
2020
Abstract Commercial buildings play a key-role in the energy consumption of the building sectors. Recent statistics have shown that as the number of commercial buildings is continuously increasing, their effects on energy consumption are expected to grow. These buildings are characterized by high energy demand mainly due to lighting and HVAC requirements. Rooms of energy saving exist by considering that: (i) electricity demands and HVAC requirements occur simultaneously during the day and (ii) both demands are currently satisfied by using separate energy systems. It is apparent that the adoption of polygeneration systems could represent a valid solution to achieve energy savings. To this aim…
The Impact of Government Spending on the Private Sector: Crowding-Out versus Crowding-In Effects
2009
The aim of this paper is to analyze the impact of government spending on the private sector, assessing the existence of crowding-out versus crowding-in effects. Using a panel of 145 countries from 1960 to 2007, the results suggest that government spending produces important crowding-out effects, by negatively affecting both private consumption and investment. Moreover, while the effects do not seem to depend on the different phases of economic cycle, they vary considerably among regions. The results are economically and statistically significant, and robust to several econometric techniques.
International Fiscal-Financial Spillovers:the Effect of Fiscal Shocks on Cross-Border Bank Lending
2019
This paper sheds new light on the degree of international fiscal-financial spillovers by investigating the effect of domestic fiscal policies on cross-border bank lending. By estimating the dynamic response of U.S. cross-border bank lending towards the 45 recipient countries to exogenous domestic fiscal shocks (both measured by spending and revenue) between 1990Q1 and 2012Q4, we find that expansionary domestic fiscal shocks lead to a statistically significant increase in cross-border bank lending. The magnitude of the effect is also economically significant: the effect of 1 percent of GDP increase (decrease) in spending (revenue) is comparable to an exogenous decline in the federal funds ra…
Testing for Government Intertemporal Solvency: A Smooth Transition Error Correction Model Approach
2001
Applied macroeconomists have tested for the government intertemporal solvency condition by either testing for linear stationarity in the total government deficit series or testing for linear cointegration between total government spending and total tax revenues. A number of authors have focused, in particular, on structural breaks in the government deficit process. In this paper, we use a smooth transition error correction model to test and estimate a shift in the adjustment toward a linear cointegration relationship between the government spending to output ratio and the total tax revenues to output ratio. Estimation results show that government authorities react only to large (in absolute…
Assessing Long-Term Fiscal Developments: A New Approach
2009
We use a new approach to assess long-term fiscal developments. By analyzing the time-varying behaviour of the two components of government spending and revenue - responsiveness and persistence - we are able to infer about the sources of fiscal behaviour. Drawing on quarterly data we estimate recursively these components within a system of government revenue and spending equations using a Three-Stage Least Square method. In this way we track fiscal developments, i.e. possible fiscal deteriorations and/or improvements for eight European Union countries plus the US. Results suggest that positions have not significantly changed for Finland, France, Germany, Spain, the United Kingdom and the US,…