Forecasting capital expenditures in early stages of an offshore wind power project is aproblematic process. The process can be affected by optimism bias and strategicmisrepresentation which may result in cost overruns. This thesis is a response to issuesregarding cost overruns in offshore wind power projects. The aim of this thesis is tocreate a cost forecasting method which can estimate the necessary capital budget in awind power project. The author presents a two-step model which both applies the inside view and outsideview. The inside view contains equations related to investment and installation costs.The outside view applies reference class forecasting in order to adjust the necessary costcontingency budget. The combined model will therefore forecast capital expenditures fora specific site and adjust the cost calculations with regard to previous similar projects. The results illustrate that the model is well correlated with normalized cost estimationsin other projects. A hypothetical 150MW offshore wind farm is estimated to costbetween 2.9 million €/MW and 3.5 million €/MW depending on the location of the windfarm.

No description available.

This work deals with stabilization policy of central Government and also local governments in the Czech republic, which is in present time very important question. There was made an analysis of available data on the central Government and local Government Levels. The analysis was made on time period 2001-2011. The data were compared with GDP growth for the central Government level or tax revenue from personal income for local governments. On the basis of this data, the conclusion has been made. Central and also local governments work as a stabilizator of business cycle and the hypothesis, that state and local governments work against business cycle, was confirmed.

Semiconductor industry, especially IC manafacture has been one of the most important high-tech industries in Taiwan since 1970¡¦s. The first professional wafer Fab, called ¡§wafer labor¡¨, was build up in Taiwan and has currently gained more than 60% market share in the wafer market of the world. This kind of industry is usually characterized as ¡§capital intensity¡¨, ¡§technology intensity¡¨ and ¡§short productive life cycle¡¨. Along with the innovation of technology and the internationalization of industry, more and more enterprises have been engaged in the fierce and intensive competition in all senses. Consequently, all of them have to possibly renew and modify their products, facilities and technologies with their limited resources so as to find their own way of making profits constantly. A correct investment decision not only contributes to the constant growth of enterprises, but also helps push up the industrial competitive capacity. Therefore, in the current project, I will try to work out an appropriate method for making investment policy. My concern will basically focuses on the distribution proportion of capital by arguing that the capacity expansion expenditures and research & development expenses are supposed to be included in the capital expenditures of wafer labor industry. However, with regard to the appropriateness of this project, I will also take the so-called ¡§dynamic complexity¡¨ into consideration, which is usually characterized by the phenomena of ¡§Information feedback¡¨, ¡§Time delay¡¨ and ¡§Non-linearity¡¨. If the capital is limited, the relationship between capacity expansion expenditures and research & development expenses are supposed to be definied as a ¡§trade-off¡¨ relationship. The increase of one side will lead to the decrease of the other side and finally leads to in the reduction in profits. Due to the capacity of System Dynamics for sloving the problem of dynamic complexity (Forrester, 1961), I will adopt System Dynamics as the main research method in the current project and to work out an appropriate method for making wafer labor industrial policy. By taking the capital distribution into consideration, I will try to construct a possibly appropriate investment model and herewith make some remarks or suggestions for the investment policy. Some research results will be displayed in the current project: 1. In any case, there is a certain distribution proportion which optimizes the entire profits. The task is to simulate an appropriate one respectively for different scenarios. 2. The increase in the proportion of research & development expenses might lead to the reduction of profits. 3. By using this model, the enterprise can find out the most appropriate policy for distributing the capital and achieving their maximal profit.

A Study of Student Unit Costs for Public Senior Secondary Education in Taiwan Hsiu-Wen Tseng Abstract This research adopts the methodology of literature analysis, documentary one and empirical regression one to explore the current student unit costs of public senior secondary schools and the relevant issues. The purposes of this study are (a) to analyze the developmental trend and the current status of educational expenditures allocation for education at all levels, (b) to explore the cost drivers of student costs for public senior secondary schools through regression analysis and construct a calculating model for student unit costs, and (c) to offer relevant institutes some specific suggestions as improvements for the allocation system of educational funds according to this model so as to develop the maximum function of public education funds. The main conclusions are obtained as follows: 1. In the recent ten years, there is a great fluctuation in the structure of education at all levels in our country and the educational expenditures have increased a great deal yearly. 2. The context of student unit costs should be composed of current expenditures and capital ones. The former are the basic resource of funds for maintaining the normal operation of school-affairs, so these could be referred as the equivalent of the basic needs for every school; the latter are the expenditures for facilities and construction. The expenditures for facilities are mainly the expenses for teaching which are directly beneficial to the quality of learning. 3. Through descriptive statistics, we find that the expenditures of construction constitute the majority of capital expenditures in public senior secondary education, so the ratio for the expenditures of facilities is relatively low. 4. The current expenditures of public senior secondary schools have great regularity, so they could be predict the amount by the best regression model composed of three main cost drivers, which are the amounts of teachers, classes and staffs. According to the results of our research above, we propose the following suggestions: 1. The current expenditures and capital ones should be allocated by different methods because of their different cost behaviors. 2. The current expenditures have great regularity, so this kind of expenditures could be calculated and allocated by a funding formula through general educational grants. 3. The capital expenditures have no certain regularity, so this kind of expenditures is not suitable to be predicted from a normal viewpoint. This should be separated from general educational grants and continuously allocated by the method of plan grants. Besides, the central government should formulate the specific standards for the facilities and construction of education at all levels as the references of examining the proposals for capital grants. 4. The central government should establish a data base of the fundamental teaching equipment and educational expenditures of education at all levels for educational administrative institutes, schools and outsiders to examine, supervise and proceed relevant researches. 5. The central government should revise the accounting system of public educational institutes and establish a independent accounting system for public schools in order to fulfill School based management and develop the concept of accountability and ability to establish the features of schools for school authorities.

Thesis (M.H.A.)--University of Michigan, 1979.

Thesis (M.H.A.)--University of Michigan, 1979.

This thesis investigates three aspects of corporate finance, namely the determinants of firm’s long term investment represented by the net capital expenditures, the determinants of firm’s short term investment represented by working capital requirements and the capital budgeting practices - all within the context of Gulf Cooperation Council (GCC) markets. Despite the importance of these interrelated topics to decision makers and despite the great emphasis given to teach them in universities, few researchers investigated the determinants of both long and short term investments and out of those, most focused on developed markets. Moreover, almost all the existing studies investigated these determinants at the firm level with little evidence about macroeconomic factors. Besides, none have provided a comprehensive investigation of capital budgeting practices from a single market whether developed or emerging. Hence, this thesis completed three independent investigations. The first and second investigation presented in chapters three and four respectively, explores three categories of factors that are found in the existing literature, or predicted by this thesis to be associated with firm’s long and short term investments. These first two investigations utilize a pooled OLS regression for a panel data set covering the period from 2000 to 2014. Furthermore, the third investigation presented in chapter five explores a wide set of capital budgeting practices from a single frontier market within the GCC. Precisely, the investigation covers the development, the selection and the post completion stage of capital budgeting. It also, explores factors that are found in the existing literature or predicted by this thesis to influence the use of such practices. This investigation utilizes a survey questionnaire containing 23 questions to gather the required data. Finally, this thesis makes various contributions to the corporate finance literature. Specifically, chapter three and four extend the existing literature on the determinants of firm’s long and short term investments by examining it in the context of new emerging markets namely the GCC markets. Beside, revealing the positive effect of macroeconomic factors on firm’s investments. Chapter five extends the existing literature on capital budgeting practices by investigating three stages of these practices from the Omani market. Additionally, it provides new evidence related to the significant relation between capital budgeting practices and new firms characteristics.

This diploma thesis is concerned with expenditure comportment of magistrate's cities. The main objective of this thesis was to examine the expenditure side of municipal budgets of cities of the Czech Republic. The thesis is divided into a theoretical and analytical part. The theoretical part describes the basic informations about municipal authorities, budget and budget's process. Next important part is about current and capital expenditure and overview of existing studies on magistrate's cities. Five cities were selected for analytical part. These cities were Olomouc, České Budějovice, Hradec Králové, Havířov and Kladno. The analytical part describes these cities and their budgets and current and cupital expenditures of these cities. The expenses were analyzed according to the sectoral classification. The expenses of these cities were also compared with the municipalities of the Czech Republic.

The thesis deals with the sources of funding of regional investments. Financing the investments by own resources is very difficult and maybe even impossible. Regions gained the opportunity to co-finance investments using European subsidies after the accession to the European Union. This thesis tries to find out what is the meaning of these subsidies to finance regional investments. The primary objective of this work is to determine the share of European subsidies on regional investments. Furthermore the thesis focuses on finding the common features of these investments and subsidies. The results of the analysis shows that proportion of European subsidies on capital expenditure is significantly different between regions. The amount of share is between 23-99%. European subsidies are mainly used for large investments, especially in investments in transport infrastructure. Regions usually utilize subsidies only from the regional operational programs. The conclusions of this work can be used in determining goals of EU regional policy.