The federal government’s investment in the research and development (R&D) being conducted at the nation’s universities and colleges has grown considerably in recent years and represents a pivotal part of the U.S. innovation system—one that advances knowledge of the world and provides critical training to the next generation of scientists and engineers. The analysis in this report assesses that investment. The analysis drew on the RAND Corporation’s RaDiUS (
In 1995, the National Academy of Sciences, National Academy of Engineering, Institute of Medicine, and
National Research Council issued a report entitled Allocating Federal Funds for Science and Technology, which
recommended tracking federal investments in the creation of new knowledge and technologies—what the report
referred to as the federal science and technology budget (FS&T).
Investors in common stock use net income as a key measure of
profitability, but the custom in REIT world is to use funds from
operations (FFO). The historical preference for FFO rather than
net income relates to the concept of depreciation. The Securities
and Exchange Commission (SEC), under federal securities laws,
requires that all publicly traded companies file audited financial
The Mexican legal system is a mixture of U.S. constitutional theory within a civil law system.
Mexico’s legal framework concerning real property includes the Federal Constitution, Federal
Civil Code, state civil codes, municipal laws and ordinances. Additionally, the Foreign Investment
Law and Foreign Investment Law Regulations regulate foreign investment. In Mexico, real
property is classified as either public, private or communal, the nature of which will affect the
property’s use and potential alienation.
Accounting & Financial Statement Analysis. Accounting is used by a variety of organizations, from the federal government to
nonprofit organizations to small businesses to corporations. We will be
discussing accounting rules as they pertain to publicly traded companies.
The Customer Satisfaction Work Group (Work Group) of the Workforce
Information Council (WIC) was appointed to explore the issue of customer satisfaction as
it relates to labor market information (LMI) providers and users of the information. The
Work Group was composed of eleven members, two support personnel and a consultant.
They met formally three times between October 2002 and June 2003, and gave quarterly
updates to the WIC.
Workforce Investment Act of 1998.
and federal agencies;
CHAPTER 12 Government Bonds
U.S. Treasury bonds are among the safest investments available because they are secured by the considerable taxing powers of the federal government. Many bonds issued by federal government agencies, and by state and local
A national infrastructure council should also be tasked with collecting and dis-
seminating best practices pertaining to project selection, preventative mainte-
nance, and construction cost reduction. It would also promote the use of common
objective measures to evaluate the progress of ongoing and completed infrastruc-
ture projects. The council would work to identify opportunities for innovation
and help develop new mechanisms for leveraging private investment.
Risk management is the process whereby the insurer's management takes action to assess
and control the impact of past and potential future events that could be detrimental to the insurer.
These events can impact both the asset and liability sides of the insurer's balance sheet, and the
insurer’s cash flow. Investment risk management addresses investment related events that would
cause the insurer’s investment performance to weaken or otherwise adversely affect its financial
position. Various investment risks tend to focus on different parts of the investment portfolio.
But how far should the public sector go in defining the terms of maturity transformation?. It
would be reassuring to imagine that underlying saving and investment propensities of the
private sector define the real interest rate in normal times. Keynes threw some doubt on this
classical view. In addition, the fact is that government policies nowadays dominate the terms
of maturity transformation in modern economies. Very large government debt defines the
We begin our sample construction with a list of the top 75 countries in the world based on GDP at the
end of 2001.
This list is matched with countries identified as having a fund industry in publications of
either the Investment Company Institute (ICI) or Fédération Européenne des Fonds et Sociétés
The asset size for the countries not listed in the ICI and FEFSI data sources
is gathered through web-based sources and discussions with industry experts. We are able to obtain a
sample of 55 countries with data on the relative size of the...
In addition, the Volcker Rule does not apply to Banking Entity’s investing in or sponsoring hedge funds
or private equity funds that occur solely outside the United States as long as (i) no ownership interest
in such funds is offered to U.S. residents, and (ii) the Banking Entity is not directly or indirectly
controlled by another Banking Entity that is organized under the laws of the United States or a U.S.
Under the Act, the Federal banking agencies, the SEC, the CFTC and the Board of Governors of the
Federal Reserve System (the “Fed”) will coordinate to...
Irish IFs are owned mainly by non-residents, with 26 per cent held by other euro area
residents and 68 per cent held by those outside the euro area and just 6 per cent owned by
Irish residents. This breakdown reflects a significant move in ownership away from euro area
residents to the rest of the world over recent quarters. Similarly most assets owned by Irish
resident IFs are domiciled outside the state. When unclassified assets are excluded, just 9.4
per cent of capital is invested in Irish assets, 13.5 per cent invested...
Federal Reserve Chairman Alan Greenspan is perceived as an enigma, a man
whose message is cloaked behind a wall of obtuse language. The markets spend
an inordinate amount of time trying to break down that wall, hoping they might at
last find the Holy Grail on Greenspanisms. But for most, understanding
Greenspan to the point where both he and the Fed are even semi-
predictable, and hence, tradable, is an elusive challenge. Greenspan is
therefore seen as a distraction to investors who would rather focus on companies
and industry fundamentals than monetary policy.
Energy is a major cost driver when it comes to getting water to the tap and treating
wastewater, but our current system does not adequately account for energy needs
when planning water-system improvements. A federal lending authority, however,
could allow for drinking and clean water infrastructure investments to be coordinated
with the expansion of electrical capacity required to support them. Or it could arrange
for channel deepening at ports to be planned alongside the bridge replacements
required to ensure new and larger freight vessels can access harbors.
Since the ﬁnancial crisis, there has been renewed interest in documenting the balance-
sheet positions of ﬁnancial institutions. We share the important goal of this literature:
to come up with data on positions that will inform the theoretical modeling of these insti-
tutions, as called for by Franklin Allen in his 2001 AFA presidential address. Adrian and
Shin (2011) investigate the behavior of Value-at-Risk measures reported by investment
When a consumer applies for employment, or for a service that reviews credit histories,
(such as insurance, an apartment rental, utilities, cell phone accounts) these data users
may also request and receive a credit report and/or scores from one or more repositories,
to be used to evaluate the consumer’ s application.
Traditionally, public transportation passenger cost savings were often the primary
factors considered as the benefits of public transportation projects. This mindset
has changed significantly and now it is widely accepted that public transportation
investment can also help reduce roadway traffic congestion, with broader benefits
for commercial truck deliveries, employer labor market access and on other
aspects of business productivity.
Some critics also view these investments as running counter to the fund’s fiduciary duty.
While public-sector pension funds are exempt from ERISA (1974 federal law over private
pension funds) and are governed by varied state laws, ERISA standards and its treatment
of economically targeted investments (ETIs) are cited as a transferable legal framework. The
Department of Labor issued an interpretative bulletin (1994) stating that private pension
funds may pursue ETIs as long as they meet standard prudent investment guidelines and seek
appropriate risk/return characteristics (U.S.
When I started graduate school at Syracuse University in the late sixties,
the chair of my department informed me that I would not be eligible
for fellowships, because I was a woman. Pulling out a page of statistics, he
pointed to the data indicating that women didn’t finish PhD programs, and
if they did, they interrupted their academic careers for marriage and children
and therefore didn’t go back to catch up with their peers. They were,
he concluded, “a bad investment” for the department and the university....