Abstract: The market transformation in Kazakhstan during the
last two decades has essentially strengthened a gap between
development of urban and rural areas. Implementation of market
institutes, transition from public financing to paid rendering of social
services, change of forms of financing of social and economic
infrastructure have led to strengthening of an economic inequality of
social groups, including growth of stratification of the city and the
village. Sociological survey of urban and rural households in Almaty
city and villages of Almaty region has been carried out within the
international research project “Livelihoods Strategies of Private
Households in Central Asia: A Rural–Urban Comparison in
Kazakhstan and Kyrgyzstan" (Germany, Kazakhstan, Kyrgyzstan).
The analysis of statistical data and results of sociological research of
urban and rural households allows us to reveal issues of territorial
development, to investigate an availability of medical, educational
and other services in the city and the village, to reveal an evaluation
urban and rural dwellers of living conditions, to compare economic
strategies of households in the city and the village.
Abstract: Investment in a constructed facility represents a cost in
the short term that returns benefits only over the long term use of the
facility. Thus, the costs occur earlier than the benefits, and the owners
of facilities must obtain the capital resources to finance the costs of
construction. A project cannot proceed without an adequate
financing, and the cost of providing an adequate financing can be
quite large. For these reasons, the attention to the project finance is an
important aspect of project management. Finance is also a concern to
the other organizations involved in a project such as the general
contractor and material suppliers. Unless an owner immediately and
completely covers the costs incurred by each participant, these
organizations face financing problems of their own. At a more
general level, the project finance is the only one aspect of the general
problem of corporate finance. If numerous projects are considered
and financed together, then the net cash flow requirements constitute
the corporate financing problem for capital investment. Whether
project finance is performed at the project or at the corporate level
does not alter the basic financing problem .In this paper, we will first
consider facility financing from the owner's perspective, with due
consideration for its interaction with other organizations involved in a
project. Later, we discuss the problems of construction financing
which are crucial to the profitability and solvency of construction
contractors. The objective of this paper is to present the steps utilized
to determine the best combination of minimum project financing.
The proposed model considers financing; schedule and maximum net
area .The proposed model is called Project Financing and Schedule
Integration using Genetic Algorithms "PFSIGA". This model
intended to determine more steps (maximum net area) for any project
with a subproject. An illustrative example will demonstrate the
feature of this technique. The model verification and testing are put
into consideration.
Abstract: To fight against the economic crisis, French
Government, like many others in Europe, has decided to give a boost
to high-speed line projects. This paper explores the implementation
and decision-making process in TGV projects, their evolutions,
especially since the Mediterranean TGV-line. This project was
probably the most controversial, but paradoxically represents today a
huge success for all the actors involved.
What kind of lessons we can learn from this experience? How to
evaluate the impact of this project on TGV-line planning? How can
we characterize this implementation and decision-making process
regards to the sustainability challenges?
The construction of Mediterranean TGV-line was the occasion to
make several innovations: to introduce more dialog into the decisionmaking
process, to take into account the environment, to introduce a
new project management and technological innovations. That-s why
this project appears today as an example in terms of integration of
sustainable development.
In this paper we examine the different kinds of innovations
developed in this project, by using concepts from sociology of
innovation to understand how these solutions emerged in a
controversial situation. Then we analyze the lessons which were
drawn from this decision-making process (in the immediacy and a
posteriori) and the way in which procedures evolved: creation of new
tools and devices (public consultation, project management...).
Finally we try to highlight the impact of this evolution on TGV
projects governance. In particular, new methods of implementation
and financing involve a reconfiguration of the system of actors. The
aim of this paper is to define the impact of this reconfiguration on
negotiations between stakeholders.
Abstract: According to the theory of capital structure, this paper uses principal component analysis and linear regression analysis to study the relationship between the debt characteristics of the private listed companies in Jiangsu Province and their business performance. The results show that the average debt ratio of the 29 private listed companies selected from the sample is lower. And it is found that for the sample whose debt ratio is lower than 80%, its debt ratio is negatively related to corporate performance, while for the sample whose debt ratio is beyond 80%, the relationship of debt financing and enterprise performance shows the different trends. The conclusions reflect the drawbacks may exist that the debt ratio is relatively low and having not take full advantage of debt governance effect of the private listed companies in Jiangsu Province.
Abstract: The term private equity usually refers to any type of
equity investment in an asset in which the equity is not freely
tradable on a public stock market. Some researchers believe that
private equity contributed to the extent of the crisis and increased
the pace of its spread over the world. We do not agree with this.
On the other hand, we argue that during the economic recession
private equity might become an important source of funds for firms
with special needs (e.g. for firms seeking buyout financing, venture
capital, expansion capital or distress debt financing). However,
over-regulation of private equity in both the European Union and
the US can slow down this specific funding channel to the
economy and deepen credit crunch during global crises.
Abstract: Unlike its conventional counterpart, Islamic principles
forbid Islamic banks to take any interest-related income and thus
makes deposits from depositors as an important source of fund for its
operational and financing. Consequently, the risk of deposit
withdrawal by depositors is an important aspect that should be wellmanaged
in Islamic banking. This paper aims to investigate factors
that influence depositors- withdrawal behavior in Islamic banks,
particularly in Malaysia, using the framework of theory of reasoned
action. A total of 368 respondents from Klang valley are involved in
the analysis. The paper finds that all the constructs variable i.e.
normative beliefs, subjective norms, behavioral beliefs, and attitude
towards behavior are perceived to be distinct by the respondents. In
addition, the structural equation model is able to verify the structural
relationships between subjective norms, attitude towards behavior
and behavioral intention. Subjective norms gives more influence to
depositors- decision on deposit withdrawal compared to attitude
towards behavior.
Abstract: The financial crisis has decreased the opportunities of
small businesses to acquire financing through conventional financial
actors, such as commercial banks. This credit constraint is partly the
reason for the emergence of new alternatives of financing, in addition
to the spreading opportunities for communication and secure
financial transfer through Internet. One of the most interesting venues
for finance is termed “crowdfunding". As the term suggests
crowdfunding is an appeal to prospective customers and investors to
form a crowd that will finance projects that otherwise would find it
hard to generate support through the most common financial actors.
Crowdfunding is in this paper divided into different models; the
threshold model, the microfinance model, the micro loan model and
the equity model. All these models add to the financial possibilities of
emerging entrepreneurs.