Abstract

The objective of financial management of construction companies is to generate profit and provide financial stability. Financial stability is provided by managing the amount of both fixed and current assets, the amount of equity and external capital. Therefore, in order to reach the objective of financial management, it is necessary to comply with the basic financial rules. In the framework of nationwide analyses of economic indicators for different industries, there is data published on the website of the Ministry of Industry and Trade, which, however, apply to all construction companies. For this reason, the authors of the article focused on individual subcategories of construction companies (small, medium and large), which are defined by turnover, assets and number of employees. The research studied whether these subcategories fulfil all or part of the basic financial rules, including the following rules: golden rule of risk equalization: the ratio of own and external resources should be in the ratio of 1:1, golden balance rule: fixed assets should be covered by long-term resources; golden "pari" rule: fixed assets should be covered by equity. The research also monitored the structure of assets, i.e. the ratio between fixed and current assets and was based on elementary methods of financial analysis (vertical and horizontal methods). The outputs of the paper will be further used for the next step of the research, which will focus on tax optimization of individual categories of construction companies in relation to financial management of fixed assets.

Abstract

This report aims to help Bhutan think through various technical and policy issues of introducing electric vehicles in its own context. It analyses a variety of factors that will impact adoption of electric vehicles from technical, market and financial feasibility to consumer awareness and stakeholders’ capacity. It also addresses several policy questions which are at the heart of public debate such as affordability of the government to undertake the program, economic costs and benefits, distributional impact, fiscal, and macroeconomic implications. Document type: Book

Abstract

ISER was requested to conduct an economic analysis of a possible 'Cook Inlet Syngas Pipeline'. The economic analysis was incorporated as section 7.4 of the larger report titled: 'Beluga Coal Gasification Feasibility Study, DOE/NETL-2006/1248, Phase 2 Final Report, October 2006, for Subtask 41817.333.01.01'. The pipeline would carry CO{sub 2} and N{sub 2}-H{sub 2} from a synthetic gas plant on the western side of Cook Inlet to Agrium's facility. The economic analysis determined that the net present value of the total capital and operating lifecycle costs for the pipeline ranges from $318 to $588 million. The greatest contributor to this spread is the cost of electricity, which ranges from $0.05 to $0.10/kWh in this analysis. The financial analysis shows that the delivery cost of gas may range from $0.33 to $0.55/Mcf in the first year depending primarily on the price for electricity. Document type: Report

Abstract

u cours des années récentes, les véhicules électriques sont revenus sur le devant de la scène des politiques publiques en matière de transport. Considérés comme un remède possible à diverses préoccupations pressantes des pouvoirs publics, ils bénéficient d'un soutien croissant de leur part. De telles mesures de soutien demeurent contestées : en effet, leur impact sur le décollage effectif des ventes, leur soutenabilité, leur utilité et leur justification sont loin d'aller de soi. Cette étude vise à éclairer l'impact des politiques publiques destinées à influencer la demande sur i) le taux de pénétration des véhicules électriques auprès des ménages français, et ii) les finances publiques. Dans un premier temps sera brossé le tableau du contexte dans lequel les véhicules électriques ont vocation à se développer. Il sera proposé un panorama large des opportunités potentielles offertes par l'introduction des véhicules électriques. Une revue internationale des politiques publiques est conduite, qui décrit les leviers de politique publique qui sont aujourd'hui actionnés en soutien au véhicule électrique de par le monde. L'accent y est mis sur les mesures destinées à agir sur la demande. Des conclusions préliminaires seront proposées sur l'efficacité de ces mesures au regard des taux observés de pénétration du véhicule électrique. Dans un deuxième temps, l'étude s'attache à évaluer le marché potentiel des véhicules électriques auprès des ménages français. L'analyse porte non seulement sur les déterminants financiers de la demande, mais aussi sur les obstacles socio-économiques à l'adoption des véhicules électriques par ces ménages. S'appuyant sur une analyse par scénarios qui permet de rendre compte des nombreuses incertitudes relatives aux évolutions à prévoir des véhicules, des coûts et des tendances de marché, une prévision du potentiel de demande à l'horizon 2023 est avancée. L'approche désagrégée qui est appliquée à partir de la base de données de l'Enquête Nationale Transports et Déplacements 2007/2008 permet d'identifier les combinaisons de instruments financiers de politique publique les plus à même de garantir certains niveaux de pénétration du véhicule électrique dans la prochaine décennie. Enfin, l'impact sur les finances publiques du remplacement d'un véhicule conventionnel par un véhicule électrique est étudié. L'analyse porte à la fois sur les phases de production et d'usage du véhicule. Le modèle d'évaluation développé à cet effet tient compte des impacts directs et indirects sur les finances publiques. Sont pris en compte les subventions directes à l'achat, les allègements fiscaux, les recettes fiscales, ainsi que les effets sur l'emploi. Les conclusions et observations tirées de l'étude permettent de formuler diverses suggestions à l'attention des constructeurs automobiles et des décideurs publics affichant la volonté de soutenir l'essor du véhicule électrique. In recent years, electric vehicles have come to the forefront of public transport policies. They are seen as remedy for various pressing public concerns and are thus increasingly benefiting from supportive policy measures. Such measures remain contested: their impact on actual vehicle uptake rates, their sustainability, usefulness and justification are far from being self-evident. This study aims at uncovering the effect of financial demand-side public policy measures on i) the uptake rate of electric vehicles among private households in France, and ii) the public budget. First, the context within which electric vehicles are to evolve is sketched. A comprehensive overview of the potential opportunities that come with the introduction of electric vehicles is given. An international policy review depicts public policy levers that are currently deployed in order to support the uptake of electric vehicles. A focus is put on financial demand-side measures. Preliminary conclusions on their effectiveness with regards to observed electric vehicle uptake rates in the various countries reviewed are drawn. Next, the potential market for electric vehicles among French households is explored. Besides financial aspects, socio-economic obstacles to electric vehicle uptake among private households are analysed. With the aid of scenario analysis that accounts for the many uncertainties with regards to future vehicle developments, costs and market trends, a forecast of the electric vehicles' potential up until 2023 is given. The applied disaggregate approach based on the database of the French National Transport Survey 2007/2008 allows identifying the most promising sets of financial public policy measures that are likely to guarantee certain electric vehicle uptake rates over the next decade. Lastly, the effect of replacing one conventional vehicle by one electric vehicle on the public budget is investigated. Both, vehicle manufacture and use aspects are considered. The set up valuation model hereby accounts for direct and indirect financial impacts on the public budget. These comprise direct purchase subsidies, tax breaks, and tax income, as well as effects of changing employment situations that alter the amount of social contributions and unemployment benefits. The study's findings and considerations allow for various suggestions for vehicle manufacturers and policy makers willing to support the uptake of electric vehicles. These are listed in the conclusions section which also sketches directions for further research.