scholarly journals The capital intensity of photovoltaics manufacturing: barrier to scale and opportunity for innovation

2015 ◽  
Vol 8 (12) ◽  
pp. 3395-3408 ◽  
Author(s):  
Douglas M. Powell ◽  
Ran Fu ◽  
Kelsey Horowitz ◽  
Paul A. Basore ◽  
Michael Woodhouse ◽  
...  
Keyword(s):  
Growth Rate ◽  
Capital Expenditure ◽  
Cost Model ◽  
Capital Intensity ◽  
Sustainable Growth ◽  
Bottom Up ◽  
Barriers To Innovation ◽  
Pv Module ◽  
Sustainable Growth Rate ◽  
The Impact

Using a bottom-up cost model, we assess the impact of initial factory capital expenditure (capex) on photovoltaic (PV) module minimum sustainable price (MSP) and industry-wide trends, including sustainable growth rate and barriers to innovation.

The effect of intangible assets on sustainable growth and firm value – Evidence on intellectual capital investment in companies listed on Bucharest Stock Exchange

Kybernetes ◽  
2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Catalin Ionita ◽  
Elena Dinu
Keyword(s):  
Growth Rate ◽  
Intellectual Capital ◽  
Firm Value ◽  
Intangible Assets ◽  
Stock Exchange ◽  
Listed Companies ◽  
Sustainable Growth ◽  
Content Type ◽  
Sustainable Growth Rate ◽  
The Impact

PurposeThe present study investigates the connection between company investments in intellectual capital (IC) and how they translate into financial value. The aim is to test the impact of intangible assets on the firm value and its sustainable growth.Design/methodology/approachThe research employs computation models to determine the sustainable growth rate (SGR) and the firm value (FV), and by using the ordinary least squares (OLS) model through a linear regression assesses the relationship between the dependent variables and expenditures on intangibles like R&D, IT programs and patents. A sample of 42 companies has been selected out of the 78 listed at Bucharest Stock Exchange (BSE), based on the appropriateness of the information disclosed in the financial reports for the period 2016–2019.FindingsThe results show that intangibles classified as innovative competences (R&D and Patents) do not have a positive impact on SGR and FV in listed companies from Romania. Moreover, R&D has a negative and significant effect on FV, while IT Programs have a positive and significant impact on FV, but not on the SGR. Variables categorised as economic competencies (Brands, Shares held in associates and jointly controlled entities) and firm structure-specific variables (Leverage, Firm Performance) seem to have a significant effect on SGR and FV. Shares held in associates and jointly controlled entities is the variable that can have the biggest impact when it comes to FV for companies listed at BSE.Research limitations/implicationsDue to non-disclosure of specific information by some companies, or lack of investments in intangibles the sample had to be reduced and does not cover all listed companies.Practical implicationsCompanies listed on the Regulated Market from the Bucharest Stock Exchange should maintain their scale of liabilities at a reasonable level when financing intangible assets in order to ensure corporate long-term and sustainable development. Also, these companies should maintain awareness about the importance of intangible assets and invest more in specific sub-components, in order to sustain competitive advantage. Recognizing the roles of intangibles, managers need to develop strategies to invest in profitable intangibles by reasonably allocating their limited resources, in order to achieve sustainable growth and increase company success.Originality/valueStudies concerning the relation between investments in intangibles and sustainable growth rate and firm value of listed Romanian companies are very scarce. This paper reveals new research, never before undertaken, concerning expenditures on intangibles by Romanian companies and the valuation of such investments on Bucharest Stock Exchange.

scholarly journals Proposed Physician Payment Schedule for 2013: Guarded Prognosis for Interventional Pain Management

2012 ◽  
Vol 5;15 (5;9) ◽  
pp. E615-E627
Author(s):  
Laxmaiah Manchikanti
Keyword(s):  
Growth Rate ◽  
Pain Management ◽  
Regulatory Reform ◽  
Sustainable Growth ◽  
Physician Payment ◽  
Certified Registered Nurse Anesthetists ◽  
Sustainable Growth Rate ◽  
Interventional Pain Management ◽  
Fee Schedule ◽  
The Impact

As happens every year, on July 1, 2012, the Centers for Medicare and Medicaid Services issued a proposed policy and payment rate for services furnished under the Medicare physician fee schedule for 2013. The proposed rule would provide certified registered nurse anesthetists to practice independent interventional pain management. Other issues, though no less important, include a 27% sustainable growth rate formula cut in reimbursement, along with a 2% sequester, which could lead to a potential cut of 29%. Since the inception of Medicare programs in 1965, several methods have been used to determine the amounts paid to physicians for each covered service. The sustainable growth rate was enacted in 1997 to determine physician payment updates under Medicare Part B. Its intent was to reduce Medicare physician payment updates to offset the growth and utilization of physician services that exceed gross domestic product growth. This is achieved by setting an overall target amount of spending for physicians’ services and adjusting payment rates annually to reflect differences between actual spending and the spending target. Since 2002, the sustainable growth rate has annually been used to recommend reductions in Medicare reimbursements. Payments were cut in 2002 by 4.8%. Since then, Congress has intervened on multiple occasions to prevent additional cuts from being imposed. In this manuscript, we will describe important proposed changes to the physician fee schedule. Additionally, the impact of multiple changes on interventional pain management will be briefly described. Key words: Health policy, physician payment policy, physician fee schedule, Medicare, sustained growth rate formula, interventional pain management, regulatory reform.

scholarly journals Conservative Working Capital Policy: Can it Increase Profitability and Sustainable Growth Rate?

2021 ◽  
Vol 12 (3) ◽  
pp. 5630-5637
Author(s):  
Sunardi Sunardi Et. al.
Keyword(s):  
Growth Rate ◽  
Manufacturing Sector ◽  
Sustainable Growth ◽  
Working Capital ◽  
Financing Policy ◽  
Panel Data Regression ◽  
Data Regression ◽  
Sustainable Growth Rate ◽  
Investment And Financing ◽  
Positive Effect

The objective of this study is to investigate the effect of conservative working capital policy on profitability and examine the effect of conservative working capital policy on sustainable growth mediated by profitability in the manufacturing sector in Indonesia. This study involves 133 manufacturing firms in Indonesia during the 2013-2018 period. Data are analyzed using panel data regression with random effects estimation models. The result of this study showed that conservative working capital policy, both investment and financing policy, has proven to have a positive effect on sustainable growth rate. Besides, this study also proved that profitability has a positive effect on SGR. Furthermore, there was the effect of conservative working capital policies on the level of sustainable growth through profitability. This study not only contributes to expanding knowledge about the relationship between working capital policies, profitability and sustainable growth rates, but also has relevant implications for firm managers to improve firm performance to be able to grow sustainably

The Anatomy of Sustainable Growth Rate of Indian Manufacturing Firms

2018 ◽  
Vol 19 (4) ◽  
pp. 1050-1071 ◽  
Author(s):  
Lalit Arora ◽  
Shailendra Kumar ◽  
Piyush Verma
Keyword(s):  
Growth Rate ◽  
Manufacturing Sector ◽  
Sustainable Growth ◽  
Profit Margin ◽  
Regression Equations ◽  
Industrial Growth ◽  
Return On Equity ◽  
Net Profit ◽  
Sustainable Growth Rate ◽  
Indian Manufacturing Sector

An important parameter to gauge the reasons behind success (failure) of a firm in the form of sustainable growth rate provides useful insights to managers and investors. This research analyzes the variations in calculations and suitability of method of calculating this growth rate using two different formulas. It also intends to examine the extent to which these variations in sustainable growth rate are explained by some of its important determinants. Using panel data regression by decomposing return on equity into net profit margin, asset turnover and financial leverage, results suggest that four key ratios are robust in capturing the variations in sustainable growth rate even after introducing industry-specific factors like industrial growth and inflation in the regression equations. Sustainable growth rate calculated only on the basis of percentage change in book value of equity provides an aggregate view depicting that any changes in sustainable growth rate across industries are random. Further analysis provides evidence that net profit margin drives the sustainable growth of firms in the Indian manufacturing sector.

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