Large Funds Research Articles

Sistem Transparansi Dana Desa Di Kabupaten Kudus Menggunakan Metode Algorithma Information Retrieval System

<p>Kudus is a district in the province of Central Java. The capital of this district is the City of Kudus, located on the northeast coastline of Central Java between the City of Semarang and the City of Surabaya. The city is about 51 kilometers from the east side of the city of Semarang, Kudus gets a large village fund allocation, the allocation of funds transferred to the village government to support village development in 2017 reached Rp 219.89 billion. The urgency of this study is based on the problems that arise in its use based on the survey including Error mechanism, Not according to plan or unclear allocation, Not according to Guidelines, Guidelines, technical guidelines (especially procurement of goods and services), Administration of financial statements: (Markup and markdown, double counting), Reduction of Village Fund allocations, for example, village funds are used as assets of village heads and tools for personal gain, cannot be held accountable for their use, asset misappropriation: Sale or swap of Kas Desa Village, Rental of Village Cash Land which is not his right. All these problems can be anticipated by presenting good and transparent information with the information system for using village funds (SIMDANDES), the approach method used is a waterfall, for this reason, a Transparency Information System for village fund use (SIMDANDES) is needed for village fund management Gondangmanis Kec. Kab. Kab. Kab. With the Algorithm Information Retrieval System, System (SIMDANDES) method was applied to monitor the use of village funds and their absorption carried out in each village in real time, as well as information for village heads and stakeholders in Kudus District to establish a policy.<br />Keywords: information system, village fund, algorithma information retrieval system</p>

Chosen threats from wind farms located at sea

Paper discussed the problem of threats from wind farm located at sea. It was presented the possibilities (depends on wind energy) of wind energy utilization on the Europe area. It was mentioned the conditions and perspectives of construction the sea wind energy plants in Europe and Poland. It was performed the wind turbines characteristics used on sea shelf. An example of planned investments on Polish economical area and territorial waters was mentioned. It was stayed focused on chosen threats, articulated through groups of people staying in opposite to wind turbine lobby, trying to stem the wind turbine development through localization limitations. The lobby of companies constructed the wind farms (having large funds) and legislation actions e.g. European Union preferring the energy obtained from renewable sources, stands in the opposition of people groups living on the areas in which the wind farms would be located and some groups of ecologists. It is a problem for neutral opinion when the arguments are different from these groups being in accordance with present knowledge and science achievements. Undoubtedly it is a necessary to undertake the compromise actions, allowing for wind power plant development.

Perspectives of Public and Nonprofit Managers on Communications in Human Services Contracting

Government contracts and grants constitute the largest funding source for the majority of nonprofit organizations. Contracts for complex services, such as those involved in delivering human services, pose substantial challenges for public and nonprofit managers. In this context, concerns have been raised about contract management capacity, including challenges related to proposal and contract development, implementation, and performance reporting, as well as the impact of contract monitoring tools on contractor performance. Relatively few studies have provided a cross-sectoral perspective on the concrete managerial skill sets needed to engage in the interpersonal and technical processes involved in effective contract management. This study reports qualitative findings from a survey of county and nonprofit human service managers regarding approaches to managing challenges that arise in contractual relationships. The results identify the important role played by communication in the relationships between contract managers, illustrate the content of formal and informal exchanges, and identify common perspectives on the characteristics of effective communications, including transparency, a balance of flexibility and consistency, and timeliness. Practice implications for contract management relate to enhancing communication strategies in order to promote stronger contract relationships.

PHP226 - VALUE-BASED PRICING WHEN THE VALUE DIFFERS BETWEEN INDICATIONS – WHAT IS THE GERMAN WAY?

In Germany, a negotiation-based pricing system for new drugs based on results of an early benefit assessment was implemented in 2011. A legal framework determines a price premium in the case of a proven additional benefit and a comparator-based price in the case of an unproven additional benefit. To discriminate drug prices among different indications with varying value, for every fourth new pharmaceutical (n=49) a mixed-price had to be negotiated, reflecting both, a price premium and a comparator-based price. However, it is still unclear to what extent the real prescription behavior reflects the volume weights within a mixed price. For 17 of 49 pharmaceuticals with mixed prices, subpopulation-specific prescription rates were calculated based on data from a large German health sickness fund. The results were compared with the volume weights (prevalence estimates made by the Federal Joint Committee, FJC) on which a mixed price is regularly based on. Based on prescription data for 2016, a high congruence of the prescription rates of subpopulations with additional benefit and their prevalence estimate made by the FJC can be determined for seven pharmaceuticals. For other drugs, only an average or low congruence of the mixed price to the prescription ratio was observed. Thus, the percentage of prescriptions realized in the indications or subpopulations without proven additional benefit was proportionately higher than the underlying prevalence estimate. Divergence in clinical value by indication may complicate assessments of appropriate pricing by payers. In Germany, a mixed-price in applied, to reflect mixed value indications within one price. However, this approach is currently being discussed both legally and politically. However, the available data show that a mixed price may be able to reflect indications with different values in one price adequately.

Managing workers’ capital? Limits and contradictions of labour investment funds

Labour-controlled investment is often touted as an alternative, pro-worker form of finance. Since 1983, the province of Quebec in Canada has experimented with workers’ participation in the form of workers’ funds controlled by the two major trade union federations. Drawing on research from secondary sources, archival material and semi-structured interviews, this article offers a comprehensive portrait of one of Quebec main workers’ funds, the FTQ Solidarity Fund. To date very little has been said about the impact of workers’ funds on firm governance, employment quality and labour relations. The article argues that any attempt to use investment to shape firm behaviour in the interests of workers and local unions is a limited and contradictory project. The argument is sustained through a discussion of the historical formation and institutional practices of the Solidarity Fund. The presence of large union-controlled investment funds offers local firms an alternative source of capital investment, protecting small and medium-sized firms from more aggressive financial actors. However, the main results show persistent tensions and contradictions between the Fund’s social goals and financial logics, as well as unintended effects on workplace union practices and power.

Stepping Beyond Libraries: The Changing Orientation in Global GLAM-Wiki

Wikipedia and its community has seen an increasingly close relationship between library communities, with both communities sharing overlapping values and practices related to public access to knowledge, a desire for openness, defence of freedom of speech, representing marginalized communities, and broad shared interest in reliable factual information and citations. This is best in evidence from the IFLA’ Wikipedia and Libraries Opportunity Papers and the substantial growth and ubiquity of the #1lib1ref campaign. However, the relationships between cultural heritage organizations (known as GLAMs -- Galleries, Libraries, Archives and Museums) and the Wikimedia communities working on Wikipedia, Wikimedia Commons and other Wikimedia projects, began in its relationships to Museums and Archives: partnerships like that with the British Museum in 2010 led to a collective effort to encourage GLAM organizations to contribute to and participate in Wikimedia Communities. Though early partnerships in the GLAM-Wiki space focused on batch uploads of digital content to Wikimedia Commons, embedding Wikimedia-designated experts called Wikipedians in Residence, and editing activities, like editathons, which write expert advised content into Wikipedia, in the last 6 years, the landscape in which partnership with cultural heritage institutions has shifted radically. Two major trends have developed in the Wikimedia community: a shift towards facilitating linked open data with Wikidata and the expansion of GLAM-Wiki projects to support institutions that not only have large digital capacity and funding, but also institutions with limited resources, collections focused on marginalized knowledge, and collections in parts of the world with limited digital expertise. In this transition, Wikimedia communities have become change agents in bringing both linked open data and open digital practices to institutions around the world. In this paper, we will explore how GLAM-Wiki tactics, opportunities and collaboration are changing the GLAM use of Wikimedia projects from being viewed as just a platform for exposing collection to a broader public audience, into a growing part of the heritage professional toolkit.

Continuity of treatment with benzodiazepines in dementia patients: an analysis of German health insurance claims data.

Long-term treatment with benzodiazepines (BZD) should be avoided in dementia patients because of an increased risk of adverse events. We evaluated how continuously dementia patients were prescribed BZD over 12 months. For this observational study, we used claims data from a large German public sickness fund for 2014 and 2015, including patients with an incident diagnosis of dementia in 2014. The aim was to evaluate the continuity of treatment, the frequency of BZD prescriptions and defined daily doses were evaluated. In total, 1298 (5.6%) patients received 4.7±5.2 BZD prescriptions in 2015 on average. Thereof, lorazepam (47.5%), oxazepam (18.6%), diazepam (14.5%), and bromazepam (12.2%) were most often prescribed. 30.7% of the patients received at least one BZD prescription in each quarter of 2015. Although the total number of patients receiving BZD decreased in 2015, defined daily doses for single substances remained mainly unchanged. The incident diagnosis of dementia was not associated with modifications of prescription behavior. The treatment with BZD was not discontinued in a large proportion of dementia patients, increasing the risk of adverse events. Physicians' awareness of avoiding BZD should be improved and further evidence for the appropriate treatment of psychiatric symptoms in dementia (e.g. sleep disturbances, anxiety) is required.

Sophistication of Chinese Mutual Funds and the Mispricing of Accruals

ABSTRACTThis study examines the role of mutual funds in the pricing of accruals in China's stock market to evaluate the sophistication of Chinese mutual funds. Using a sample of A-share stocks in China from 2003 to 2011, I find that the mispricing of accruals is concentrated in firms with large mutual fund holdings. This result differs from a number of U.S. studies documenting a positive relation between institutional holdings and stock price efficiency. In an effort to explain this result, I provide evidence that mutual funds in China fixate on earnings and fail to understand the one-year-ahead earnings implication of accruals. Specifically, I find that the persistence of accruals is overpriced in stocks with a high level of mutual fund ownership. The mispricing of accruals in these stocks is largely driven by discretionary accruals and is related to their high stock price responsiveness to earnings.JEL Classifications: M41; G12.

Cyclical Properties of Bank Margins: Small versus Large Banks

We study cyclical properties of the net interest margin (NIM) in the US banking sector in the aggregate as well as separately for small and large banks. In the aggregate and among large banks, NIM is countercyclical. Among small banks, however, NIM is procyclical. Further, we find that this result is driven by differences in the cyclical dynamics of small and large banks' funding costs rather than asset yields.

Size, correlations, and diversification: New evidence from an application of wavelet approach to the emerging Islamic mutual fund industry

Despite the rapid growth of Islamic finance in recent years, there has been relatively little work done on the emerging Islamic mutual fund industry within the broad field of Islamic finance. As far as the authors’ knowledge, this paper is the first attempt dedicated to understanding the correlation between different sizes of the young and rapidly growing Islamic mutual fund industry at different investment horizons. Major part of economic time series analysis is done in time or frequency domain separately. Wavelet analysis can combine these two fundamental approaches, so we can work in the time-frequency domain. Using wavelet coherence, we have gained valuable insights into the continuous dynamics of correlation between small, medium and large size Islamic mutual funds at different investment horizons for reaping the benefits of portfolio diversification in particular and keeping contagion risk at bay.

The Choice of Transcatheter Aortic Valve Implementation (TAVI): Do Patient Co-morbidity and Hospital Ownership Type Matter?

Innovative technologies challenge healthcare systems, as evidence on costs and benefits frequently usually are slow to reflect new technology. We investigated these dynamics for Germany, using the emergence of transcatheter aortic valve implementation (TAVI) as an alternative to conventional aortic valve replacements (CAVR). We focused on the role of patient co-morbidity-which would be a medical explanation for adopting TAVI-and hospital ownership status, hypothesizing that for-profit facilities are more likely to capitalize on the favorable reimbursement conditions of TAVI. The analysis uses claims data from the Techniker Krankenkasse, the largest health insurance fund in Germany, for the years 2009-2015, covering 2892 patients with TAVI and 9523 with CAVR. The decision on TAVI versus CAVR was estimated for patient-level data, that is, socioeconomic data as well as co-morbidity. At the hospital level, we included the ownership type. We also controlled for effects of the respective owner (rather than the type of ownership), including a random intercept. While the co-morbidity score of TAVI patients was much higher in the early years, over time, the score almost converged with that of CAVR patients. This is in agreement with emerging evidence that suggests the use of TAVI also leads to better patient outcomes. Our results indicate that the type of ownership does not drive the switch to TAVI. We found little, if any, effect from the respective owner, regardless of ownership type. Overall, the effects of co-morbidity suggest that providers acted responsibly when adopting TAVI while evidence was still emerging.

Success and failure on the corporate bond fund market

We present the first broad overview of the factors determining corporate bond fund success and failure in terms of performance and survival. We show that the main determinant of survival is size. Performance matters only for small funds while large funds survive unconditionally, consistent with maintaining fee revenues. We neither find persistence in performance nor diseconomies of scale. This is due to advantages of larger funds in corporate bond trading. Other fund and family characteristics are unrelated to performance and survival, contrasting previous finings in equity funds. Thus, there are similarities but also important differences between the factors determining success and failure on the corporate bond and equity fund markets.

Governance, Performance, Costs and Policy Issues: An Analysis of Six Large (Big Six) Public Sector Pension Funds in Canada

Across the world, there has been a significant growth in financial assets managed by public sector entities including pension funds of public sector employees. Canada is no exception. The six largest public-sector pension funds in Canada collectively manage/invest approximately one trillion dollar (Canadian) of assets for providing retirement income to the retirees. The paper analyses the both the governance and most importantly, performance and costs of these big six pension funds. We argue that the information provided by these funds require considerable improvement in consistency and depth to evaluate their performance and, thereby, indirectly the associated governance. This is especially important as these funds are increasingly investing in “non-tradeable” and illiquid assets and are also asked and encouraged by their respective governments to invest in “publicly desirable” investments. In addition, their absolute and their relative size of their investments in publicly listed corporations also raises some governance issues.

FAKTOR-FAKTOR RISIKO RISIKO DALAM PERUSAHAAN JASA PENGIRIMAN

In this era of globalization, can not be denied that the delivery of goods is needed, either by individuals or by organizations / companies. Delivery of goods (raw materials, semi-finished materials, or finished goods) that are not timely can cause inhibition of the production process. Package delivery service is a business services meripan goods that are very much the competition, therefore the income of goods services companies especially package goods packages tend to fluctuate decline as experienced by one of the domestic delivery services. With so many business competition for goods merchandise services, competition in the future will increase or change faster so that the demand map of these services will also change, if the service company does not follow the change impossible the company will exist. That is why management is required for the risks that often arise in the delivery of goods. Risk management steps that can be done include the management of human resources business competition freight services, delivery errors, goods damage sent, theft or fire warehouse. By knowing the various risks typically faced by the company, then handling the risks quickly and accurately can minimize the risks faced by the company, so spend large funds.

Introducing undergraduate research in Numerical Analysis of Engineering Systems course

Undergraduate research has a significant positive impact on the students’ educational experience but has many implementation challenges in curricular or co-curricular activities. This paper presents an approach for introducing undergraduate research to engineering students in a Numerical Analysis of Engineering Systems course, which is typically a junior-level undergraduate course in most engineering departments. A course project was designed to allow the participating students to work in teams, read an assigned research paper that presents an exact solution of a problem related to smart materials and structures, locate the main equations, and write a computer code that uses these equations to regenerate the published results. Each team of students gave a presentation on the assigned paper, the main equations, the code developed to regenerate the results and graphs, with interpretations and conclusions. The project is contributing to the course outcomes and learning objectives as well as multiple ABET student outcomes. Final survey showed the effectiveness of the proposed project in introducing students to undergraduate research, and giving them the chance to understand the technical and mathematical language used in research papers, and experience working on new challenging problems. The approach does not need involvement of multiple faculty members, or large funds and resources. The theme of the assigned research papers is dependent on the instructor’s field of research. The approach can be easily extended to other courses that teach computational methods and tools. The paper presents sample student projects and lessons learned in implementing the proposed approach.

Comparative Analysis of Mid & Small-cap Funds Vs Large Cap Funds – A study of top rated fund of India

Comparative Analysis of Mid & Small-cap Funds Vs Large Cap Funds – A study of top rated fund of India

Развитие коллективного характера акционерного общества как основа изменения отношения к его миноритарным акционерам

The historically collective character of the capital of the joint-stock company developed in the direction of the growth of the number of joint-stock companies and the associated increase in the number of shareholders and the number of shares to be issued. In modern conditions, the possibilities for a quantitative increase in the size of the share capital have already exhausted themselves sufficiently. There are qualitative changes associated with the deepening of the collective character of such capital. On the one hand, there is the emergence of this type of minority shareholders, behind which in fact are hiding large funds of collective investment. On the other hand, this is expressed in the processes of internationalization of jointstock companies and their transformation into transnational companies, i.e. when the composition of shareholders becomes more and more international. The national share market of one and the same company is turning into a global market because these shares through the issue of depositary receipts are able to address the stock markets of any other countries of the world. Owners of depositary receipts, like collective investors, often fall into the category of minority shareholders due to the fact that they have small blocks of shares. The collective and international nature of minority shareholders is an objective basis for the need to protect the rights of such shareholders already at the legislative level.

Measuring research impact: a large cancer research funding programme in Australia

BackgroundMeasuring research impact is of critical interest to philanthropic and government funding agencies interested in ensuring that the research they fund is both scientifically excellent and has meaningful impact into health and other outcomes. The Beat Cancer Project (BCP) is a AUD $34 m cancer research funding scheme that commenced in 2011. It was initiated by an Australian charity (Cancer Council SA), and supported by the South Australian Government and the state’s major universities.MethodsThis study applied Buxton and Hanney’s Payback Framework to assess research impact generated from the BCP after 3 years of funding. Data sources were an audit of peer-reviewed publications from January 2011 to September 2014 from Web of Knowledge and a self-report survey of investigators awarded BCP research funding during its first 3 years of implementation (2011–2013). Of the 104 surveys, 92 (88%) were completed.ResultsThe BCP performed well across all five categories of the Payback Framework. In terms of knowledge production, 1257 peer-reviewed publications were generated and the mean impact factor of publishing journals increased annually. There were many benefits to future research with 21 respondents (23%) reporting career advancement, and 110 higher degrees obtained or expected (including 84 PhDs). Overall, 52% of funded projects generated tools for future research. The funded research attracted substantial further income yielding a very high rate of leverage. For every AUD $1 that the cancer charity invested, the BCP gained an additional AUD $6.06. Five projects (5%) had informed policy and 5 (5%) informed product development, with an additional 31 (34%) and 35 (38%) projects, respectively, anticipating doing so. In terms of health and sector and broader economic benefits, 8 (9%) projects had influenced practice or behaviour of health staff and 32 (34%) would reportedly to do so in the future.ConclusionsResearch impact was a priority of charity and government funders and led to a deliberate funding strategy. Emphasising research impact while maintaining rigorous, competitive processes can achieve the joint objectives of excellence in research, yielding good research impact and a high rate of leverage for philanthropic and public investment, as indicated by these early results.

Potentials of Social Media as Media Facility of Tourism Promotion Based on Community Participation

The potential of social media as a media of tourism promotion is vastly massive. Nevertheless, the problem is on how to get social media can be widely known and has abundant followers for the publicized content could be accepted by the crowd. Normally, social media of a tourism promotion is integrated with conventional media like television, radio and newspapers. What if a region does not have large funds to interact with the conventional media, such issue be overcome with community participation. Community participation here is by involving various elements of society in the targeted region to participate in promoting the tourism potentials through their social media respectively. Such first step is considered more effective than creating the social media from the scratch. Local governments can facilitate to create a community in quest to capture users of social media in their area, so that local governments can easily regulate and manage social media users in promoting tourism in their respective regions.

Interim Report: Risk Management Maturity in Large Australian Superannuation Funds

Given the immense importance of the superannuation sector for all Australians, the objective of this study is to investigate risk management maturity in the superannuation sector and identify areas for further improvement. The study focusses on large superannuation funds (i.e. those with assets under management in excess of $10 billion) and coincides with the fifth anniversary of the implementation of the prudential standards for risk management in July 2013. 1. Building on previous research from the safety field, and with input from our panel of subject matter experts, we have developed a 5 level model of risk management maturity. 2. The majority of subject-matter experts interviewed believe that Level 1 would be appropriate and desirable for the sector given the importance of managing retirement savings. While rapidly evolving, most large Australian superannuation funds, have not yet met this risk maturity standard. This is true despite the laudable focus of the industry on member outcomes. A majority of experts believes that most large funds are currently at Level 3, some at Levels 2 and 4, with few if any at Level 1. In other words, many large funds are still working to realise effective risk management systems and frameworks. At this level the focus is on ensuring that risk management systems are well resourced and functioning efficiently (people, IT systems, processes, reporting lines, remuneration and performance measurement); risk management is built into the governance framework; the board takes responsibility for risk management and ensures that the risk appetite is consistent with strategy. This is not surprising given the relatively short time since prudential standards for risk were introduced. A minority of experts had a more positive perception of risk management maturity in the sector, perceiving a number of funds to be at Levels 1 and 2 already. 3. We also developed a list of attributes of organisations with risk management maturity. These attributes should be seen as requirements over and above the implementation of effective risk management systems (Level 3). At Level 1 an organisation should have all, while at Level 2 an organisation should have some of the following attributes: i. Commitment to continuous improvement of the risk management framework. ii. Everyone has accountability for risk management. iii. Risk management viewed as an enabler. iv. Risk communication is effective. v. Right amount of the right risks. 4. Interviews with subject-matter experts highlighted challenges for the industry in all of the maturity attributes, thus confirming that risk management maturity has room for improvement. 5. Staff surveys in five large Australian funds confirm the interview findings in relation to risk management maturity. i. None of the funds we have assessed so far has achieved consistently strong ratings for risk structures, suggesting that there is further work to be done bedding these down. ii. In some funds we observed risk culture scores that were noticeably more favourable than the large Australian banks assessed by the research team in 2014. This suggests that some funds have made significant progress toward the implementation of a culture that prioritises and values risk management. iii. Similar to banks we have assessed, the weakest dimension of risk culture in the super funds was consistently Avoidance (the perception that risk events are ignored, downplayed or excused). Weakness on this dimension is likely to reduce the effectiveness of risk communication and thus the ability of the organisation to resolve issues efficiently. Regression analysis has shown that Avoidance is significantly associated with undesirable risk behaviour such as failure to report risk events, failure to speak up, lack of accountability, overconfidence etc. iv. Survey assessments of risk culture suggest significant variation between and within large superannuation funds. The least favourable risk culture scores were observed in Technology teams. v. Staff accountability for risk management remains an issue with many still perceiving that risk management is the responsibility of specialists. This suggests that implementation of ‘three lines of defence’ and other systems to build staff accountability need further work. vi. The survey assessment of maturity also highlighted that risk management in some funds has too much emphasis on mere compliance (as opposed to thoughtful engagement). Risk managers are also struggling to overcome perceptions that risk management is a drag on performance rather than an enabler for success. vii. An opportunity for improvement exists in relation to reporting of risk events, with between 11% and 41% of survey respondents admitting to under-reporting.