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This study aims to investigate the relationship between government revenue and capital expenditures in Jordan from 2003 to 2022, with public debt as the moderating variable. Utilizing data from the Jordanian Ministry of Finance’s final accounts and the Central Bank of Jordan’s reports, the study employed regression analysis techniques in the statistical software E-Views to test the study’s hypotheses. The findings reveal a positive relationship between revenue and capital expenditures, indicating the significance of revenue in determining the level of capital expenditures. Additionally, a positive relationship is observed between public debt and the magnitude of capital expenditures, suggesting that a portion of capital expenditures is covered by government revenues while the remaining portion is financed by public debt. Upon introducing the moderating variable (public debt) into the analysis, the impact of public debt on the relationship between revenue and capital expenditures becomes evident, indicating that public debt strengthens the relationship between revenue and capital expenditures. In light of the study’s findings, the government should focus on enhancing and increasing revenue and financing sources while rationalizing expenditures. Moreover, it should strive to improve its services and infrastructure to attract more investments and reduce public debt.

The present study aims to examine the impact of different types of income (oil and tax) and government expenditure (current and construction) shocks on inflation under varying inflationary conditions. To achieve this objective, quarterly data from the Iranian economy from 1369 to 1399 was utilized, and a regime switching structural vector autoregression model based on stochastic volatility was employed to analyze. In this approach, inflation was considered as a regime variable, and a threshold value of 21% was estimated for each season. Subsequently, regime switching impulse response functions were employed to explore the effects of shocks in oil and tax income, current and construction expenditures, exchange rate, liquidity, and GDP growth on inflation. The findings of the STVAR-SV model employed in this study demonstrated that the impact of shocks in government revenues (oil and tax) and expenditures (current and construction) on inflation is much stronger in the high inflation regime (inflation above 21% in each season) compared to the low inflation regime (inflation below 21% in each season). Notably, the effect of shocks in government construction expenditures and oil revenues is significant solely in the high inflation regime, while being nonsignificant in the low inflation regime. Conversely, shocks in current government expenditures and tax revenues have a positive and significant effect on inflation in both inflationary regimes.

This study delves into the impact of intangible and tangible investments on future earnings volatility within the European financial market context. Drawing from International Accounting Standards (IAS) 16 and 38, we examine the intricate relationship between fixed assets, expenses, and the uncertainty surrounding forthcoming earnings. Our analysis reveals that intangible assets, often associated with heightened uncertainty and risk, contribute to increased earnings volatility compared to capital expenditures. Furthermore, we find that capitalizing intangible assets serves to alleviate uncertainty, resulting in lower earnings volatility compared to expensing them. Our exploration of industries' effects further reinforce these findings, with the effect of intangible and tangible investments on earnings volatility being more pronounced in high-tech industries than in low-tech industries. Additionally, our robustness test, utilizing goodwill as a proxy for intangible assets and property, plant, and equipment as a proxy for tangible assets, yields consistent results, further bolstering our findings. [ABSTRACT FROM AUTHOR]

This article investigates whether firms commit ex-ante to higher levels of investment transparency and the impact of transparency on stock returns and information asymmetry. We construct a novel measure of investment transparency based upon the extensiveness of profitability forecasts and cost disclosures in new project-level capital investment announcements. Using cross-sectional regression, we find that prior to announcement greater investment transparency is associated with lower information asymmetry. We further show that rather than reporting information strategically on a project-by-project basis, managers commit ex-ante to a disclosure policy that influences the disclosure level of new project announcements, and that a firm-level commitment to fuller disclosure reduces information asymmetry in the days surrounding the announcement. Using event study methodology, we also find that investors react more positively to announcements displaying greater investment transparency. JEL Classification: G14, D83, G31, G30, G38 [ABSTRACT FROM AUTHOR]

Chemical companies have used modularization to reduce capital costs and project timelines, putting capital to work faster and lowering the risk of entering new markets. Nevertheless, the impacts of using modularization along with advanced technologies, such as process intensification, have not yet been fully realized, often due to the uncertain business risks associated with their implementation. Therefore, new methods are needed for quantifying the impact of modular chemical process intensification (MCPI) on the capital and operating costs of chemical plants to help build a business case for this novel approach. This article presents a new conceptual range estimation technique for total cost of ownership that addresses the deficiencies of existing methods for quantifying MCPI impacts. The incorporation of percentage range estimates was employed to allow for adaptability across various cost and size scales. This work also begins to elucidate how chemical engineering and construction firms can benefit from MCPI and identifies barriers that inhibit MCPI applications in the chemical industry. [ABSTRACT FROM AUTHOR]

The article considers the ways to adapt fiscal rules in the postpandemic period in the Republic of Armenia, taking into account the new challenges associated with the geopolitical situation. The effectiveness of existing fiscal rules during the crisis is assessed, taking into account their impact on economic recovery, fiscal sustainability, and overall economic well-being. Through a comprehensive analysis of different configurations of fiscal rules, the authors attempt to determine the balance between flexibility and discipline in fiscal policy in the postcrisis period. The study examines the trade-offs between easing fiscal rules to achieve short-term recovery growth goals and maintaining stricter rules to ensure long-term fiscal stability. [ABSTRACT FROM AUTHOR]

As firms lower innovative investment in response to FASB Interpretation Number 48 (FIN 48), they choose between reallocating those funds to noninnovative investment, not changing noninnovative investment, or lowering noninnovative investment. Using a difference-in-differences research design, I provide evidence of the latter outcome. I also show that the results persist each year following FIN 48, are consistent across both types of noninnovative investment, and are more prominent among firms with declining research and development (R&D) and among firms not previously under continuous audit. I also provide evidence that these effects are mitigated when managers have greater incentives to reallocate investment. My findings respond to Blouin and Robinson (2014) call to understand the real effects of FIN 48 by providing evidence that it lowers firms' incentives for noninnovative investment. [ABSTRACT FROM AUTHOR]

Local Own Source Revenue had been greatly impacted by the Covid-19 pandemic. Local Taxes and Local Retribution has been decreased as many hotels, restaurants and entertainment businesses were not allowed to open. The aim of this research is to determine the effect of Local Taxes and Local Retribution during the Covid-19 pandemic on Local Own Source Revenue, which impacted on Capital Expenditures during the Covid-19 pandemic. The population in this study is 54 Local Government Yearly Financial Statement from 27 cities/regencies in West Java Province for 2020 and 2021. Sampling Method that is being used is non probability sampling method, with a total sample of 54. The independent variables of this research are Local Taxes and Local Retributions, the dependent variable of the research is Capital Expenditure and the mediation variable is Local Own Source Revenue. The research results show that Local Taxes and Local Retribution have a significant positive effect on Local Own Source Revenue and Capital Expenditures during the Covid19 pandemic, and Local Own Source Revenue positively mediates Local Taxes and Local Retriburtion on Capital Expenditures during the Covid-19 pandemic. [ABSTRACT FROM AUTHOR]

The research aims to analyze the influence of capital expenditure for local government financial performance through local government revenue as intervening variables. The sampling technique in this study is to use the purposive sampling method. The object of this research is all districts and cities in NTT, with a sample of 22 districts and cities. The data used is a type of secondary data, which was obtained from the realization of the 2017-2021 district and city revenue and expenditure budget (APBD) in NTT. The results of this study indicate that capital expenditures have an influence on local government revenue, and local government revenue has an influence on local government financial performance. Apart from that capital expenditures have a local government financial performance, with all of them having a positive correlation. The local government revenue is able to mediate the relationship between capital expenditures on local government financial performance. [ABSTRACT FROM AUTHOR]

Inequality occurs due to differences in characteristics in each region, in terms of natural resources, human resources, and capital resources. The level of development inequality in Indonesia in recent years has increased. This research aims to determine the influence of the human development index, foreign investment, domestic investment, capital expenditure, general allocation funds, and special allocations on development inequality in East Kalimantan province in 2018-2022. This research is quantitative research using secondary data for each province from 2018-2022. The data analysis used is data regression analysis using the Random Effects Model (REM) approach. The results of this research show that the Human Development Index, foreign investment, and domestic investment have a positive and significant effect, while capital expenditure, Special Allocation Funds, and General Allocation Funds do not affect development inequality in East Kalimantan Province in 2018-2022.

Copyright of GeSec: Revista de Gestao e Secretariado is the property of Sindicato das Secretarias e Secretarios do Estado de Sao Paulo (SINSESP) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The current research paper explores some key aspects of the application of the DCF enterprise valuation. This paper presents the second part of a broader study by the authors, which is focused on the analysis of key input variables, predetermining the amount of free operating cash flows as an important part of the application of DCF valuation models. Here are the most serious prerequisites for deviation of forecasts from reality, which often leads to a significant distortion of the final valuations of enterprises. This provokes the research on the interdependence between the five main input variables and especially between operating revenue on the one hand, and the different expenditure groups, on the other hand, is required. In the first part of this research, the relationship between operating revenue and operating expenditures was investigated. In the present research paper, the relationship between operating revenue and gross investment expenditures is investigated, including the increase in net operating working capital and capital expenditures. The research was again carried out on the basis of aggregated data for all non-financial enterprises in Bulgaria for the period 2008-2020. The results are generally ambiguous, but in the medium and long term, at least for some of the largest sectors explored, relatively representative and sustainable averages are established for the relative share of net operating working capital and capital expenditures to revenues. There are no strong arguments against forecasting gross investment costs based on their historical averages as a percentage of operating revenue. [ABSTRACT FROM AUTHOR]

This paper discusses the strategic composition of Slovak municipalities' revenues and expenditures and the role of political budget cycles. We found that Slovak municipalities tend to have significantly higher capital revenues and capital expenditures in periods close to municipal elections. We also found strategic management of current expenditures and revenues depending on the time of municipal elections. We have controlled these estimations with several dimensions identified in the literature, from socio-economic variables to political characteristics of the incumbent mayors. [ABSTRACT FROM AUTHOR]

Copyright of Contemporary Accounting Research is the property of Canadian Academic Accounting Association and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study delves into the impact of intangible and tangible investments on future earnings volatility within the European financial market context. Drawing from International Accounting Standards (IAS) 16 and 38, we examine the intricate relationship between fixed assets, expenses, and the uncertainty surrounding forthcoming earnings. Our analysis reveals that intangible assets, often associated with heightened uncertainty and risk, contribute to increased earnings volatility compared to capital expenditures. Furthermore, we find that capitalizing intangible assets serves to alleviate uncertainty, resulting in lower earnings volatility compared to expensing them. Our exploration of industries’ effects further reinforce these findings, with the effect of intangible and tangible investments on earnings volatility being more pronounced in high-tech industries than in low-tech industries. Additionally, our robustness test, utilizing goodwill as a proxy for intangible assets and property, plant, and equipment as a proxy for tangible assets, yields consistent results, further bolstering our findings.

The objective of this study is to analyze the influence of village expenditure on the Human Development Index in 21 districts in East Nusa Tenggara Province. This is secondary data obtained from the official website of the Statistics Center Bureau (BPS), which contains all reports of income realization and expenditures of the village government in 21 districts in East Nusa Tenggara Province from 2017 to 2020. The methods of analysis used in this study are descriptive analysis and panel data analysis. Results show that, simultaneously, village government expenditures, community development expenditures, and capital expenditures positively and significantly influence the human development index. Partially, village government expenditures negatively and significantly influence the Human Development Index. Community development expenditures and capital expenditures positively and significantly influence the Human Development Index. Keywords: Village Government Expenditures; Community Development Expenditures; Capital Expenditures; Human Development Index

Copyright of Journal of Accounting & Auditing (2314-4793) is the property of Beni Suef University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The article highlights approaches to assessing the state of the material and technical base of Russian science. The system of indicators used by Russian statistics on the basis of reports collected by the Federal State Statistics Service is considered. Data presentation formats are highlighted. The dynamics of the cost of fixed assets in current and constant prices of 2010 is analysed. The assessment of the distribution of fixed assets of research and development in the sectoral context is given. The dynamics of the cost of the active part of fixed assets with the allocation of their part under the age of five years is analysed. The dynamics of the stock and technical equipment per employee and per researcher is given. The volume and structure of capital expenditures in the regional context have been studied. The ratings of the regions in terms of capital expenditures per scientific organisation are constructed.

This paper presents an approach to optimise the long-term production scheduling of an open pit mine with multiple processing streams, while accounting for investment decisions under mineral supply uncertainty. The solution approach consists of first solving the linear relaxation using an extension of the Bienstock-Zuckerberg algorithm to the stochastic optimisation. Then, a rounding heuristic based on the topological sorting is applied, followed by a parallel multi-neighbourhood Tabu search. The proposed method is applied to a multi-product open pit mine deposit, with the possibility of investing in new shovels, trucks or crushers to increase related capacities. [ABSTRACT FROM AUTHOR]

Integrated gasification combined-cycle (IGCC) units, which use solid fuels (coal, petroleum coke, etc.) for combined-cycle power generation, have been under development for approximately half a century. At present, the countries of the Asian region show the greatest interest in this type of power plants. Two large IGCC power units entered into commercial operation at Nakoso and Hirono thermal power plants (TPPs) in Japan; in addition, the Osaki CoolGen project is advancing greatly. The People's Republic of China and the Republic of Korea are also improving their IGCC projects. Development of more efficient technologies for generator gas cleaning and application of the next generation of gas-turbine units (GTUs) at new IGCC units have cut down harmful emissions and increased the efficiency up to 48%. The 21st century has brought increased interest in IGCC units due to the ability of their equipment to capture CO2. Besides the above-mentioned advantages, IGCC units also have disadvantages, the biggest of which is their high cost. That is why, despite many IGCC projects to be deployed in the 2000s, most of these projects were subsequently canceled, and the plants built in the 1990s are being gradually decommissioned. The promising direction for future application of IGCC units is the production of hydrogen for fuel cells with simultaneous CO2 capture. The polygeneration technology already used at some facilities, which enable the generation and delivery to the consumer of not only electricity but also gasification by-products, will also render support to the solution of the economic problems of IGCC units. [ABSTRACT FROM AUTHOR]

Purpose : This study examines and analyzes the effect of Original Local Own Revenue (PAD), General Allocation Fund (DAU), Special Allocation Fund (DAK), Revenue Sharing Funds (DBH), and Excess Budget Financing (SiLPA) on Capital Expenditures. Method : This study employed a quantitative research design. The study’s population consisted of all 27 West Java Province Districts, including 9 cities and 18 regencies. With a total sample of 135 district budget realization reports data in the province of West Java, the sample size for this study was determined using a census sampling approach. Findings : The findings show a positive effect of PAD and DAU on Capital Expenditure, indicating that the amount of realized Capital Expenditure depends on the amount of PAD and DAU obtained by Districts in West Java Province. Meanwhile, DAK, DBH, and SiLPA do not affect the realization of Capital Expenditures. This indicates that the realization of capital expenditure is independent of DAK, DBH, and SiLPA. Novelty : First, this study uses a different research paradigm than before. Second, this research utilizes the latest era to vary the independent variables. Third, the problems chosen in this study are regencies and cities in West Java Province, which need attention regarding capital expenditure allocation. [ABSTRACT FROM AUTHOR]

Due to the management and deployment of the 5G technology in the smart power grid, there will be some impacts affecting the cost and energy efficiency, especially in the areas of not reliable power grid and not available, in addition, the operators are not experts to use the 5G technology infrastructure. The 5G infrastructure is affected by several factors such as Large Cells, Unmanned Arial Vehicle (UAV), Capital Expenditures CAPEX, and Operating Expenditures OPEX costs. Results obtained show that an off-grid network with 5G can be constructed with good efficiency and low effects on the wide range wireless network connectivity, especially for users living in rural and small areas of low income instead of wire connectivity in addition the application of renewable solar energy sources will let the off-grid operating efficiently in emergencies conditions. With this technology, the cost and time of the power grid network distribution will be optimized and minimized. Meanwhile, the smart power grid management which will be offered by the 5G has more reliability and produce smart adaptive patterns with solar energy. [ABSTRACT FROM AUTHOR]

Copyright of Amman Arab University Journal is the property of Amman Arab University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

We have examined whether institutional ownership and family control in Malaysia are linked to capital spending. Using panel data from 220 listed companies in Malaysia, we showed that institutional ownership is positively associated with capital expenditure (CAPEX). Consistent with institutional investors’ monitoring role in corporate governance, the results indicate that this relationship was driven by the presence of growth opportunities. However, we found that family control was negatively associated with CAPEX. Additional analyses showed that this relationship was moderated by company size. While larger family firms invest less in CAPEX, smaller family firms invest more in CAPEX, indicating that the benefits of lower agency conflicts in family firms hold only for smaller firms. Our results are robust to alternative empirical measurements that account for firm characteristics and the endogeneity of institutional shareholding.

The strength of the anchor block structure in the suspension bridge is very dependent on its weight to be able to bear the tensile load of the backstay cable. Therefore, it is necessary to have dimensions large enough to withstand the tensile force. Concrete has good compressive strength but does not have good tensile strength, the tensile strength of concrete is only about 10%-15% of its compressive strength. Therefore, in planning anchor blocks, anchor blocks are needed making of steel that has high yield and fracture stresses and is planted in anchor concrete blocks to withstand the force before the tensile stresses are transferred to the concrete blocks. In this paper, steel H 300.300.10.15 is used as steel anchors embedded in concrete blocks. The purpose of this study was to obtain the stress value that occurs in the anchor block using the Ansys assistance program, obtain the appropriate reinforcement distance in the maximum tensile area (critical area), and obtain a graphic description of the influence of the anchor structure geometry due to the load from the backstay cable. This research was conducted using a numerical study using the SAP 2000 assistance program to calculate the forces in the entire suspension bridge structure, then using the Ansys analysis assistance program to obtain the tensile stress that occurs in the anchor block which is also modeled in Ansys with boundary conditions that are close to the existing conditions in the field. The results of Ansys analysis show that the maximum tensile stress in H profile steel 300.300.10.15 is 73.27 MPa and the maximum tensile stress in concrete is 1.26 MPa. The value of 1.26 MPa is still within a safe limit because the tensile stress is still below the allowable tensile stress for the concrete of 2.23 MPa. From the results of empirical analysis, the maximum reinforcement space in the critical area is 150 mm, and in the non-critical area, it is 250 mm. [ABSTRACT FROM AUTHOR]

Territory is a part of a country that is divided by several districts or territories. In a region, regional progress requires a regional development plan that is progressive and becomes one of the pillars of national progress, which originates in regions that are within their administrative boundaries. This study aims to analyze the effect of economic growth and local revenue on capital expenditures in Langsa City, Aceh Province. The data used is Gross Regional Domestic Product (PDRB) data based on constant basic prices to see the economic growth rate of Langsa City, data on Regional Original Income and Capital Expenditures in Langsa City during the period 2012-2021. The data analysis method used in this study uses multiple linear regression analysis equations, classical assumption test and hypothesis testing consisting of t test, F test and coefficient of determination (R2). The results obtained by the equation BM = 153.781.0 - 0, 088613 PDRB + 3.148967 PAD. The results of this study indicate that partially economic growth has a negative and insignificant effect on Capital Expenditure in Langsa City, Aceh Province and Regional Original Income has a positive and significant effect on Capital Expenditure in Langsa City, Aceh Province. Simultaneously economic growth and local revenue have a positive and significant effect on Langsa City Capital Expenditures Langsa City during the period 2012-2021. [ABSTRACT FROM AUTHOR]

The deployment of CO2 capture and storage (or carbon capture and storage (CCS)) technologies will enable carbon neutrality to be achieved during commercial utilization of fossil fuels. The performed studies have demonstrated that CCS technologies are quite energy-intensive and expensive. This primarily concerns the CO2 capturing equipment, which is responsible for 60–80% of the CCS total expenditures. With a decrease in the partial pressure of CO2 in a gas mixture and the capacity of the capture plant, the cost of CO2 extraction increases drastically. This applies particularly to thermal power plants (TPPs). Their provision with CO2 capture systems increases the specific capital expenditures by 1.6–2.3 times and the cost of generated electricity by 1.4–1.6 times. The power required for operation of these system amounts to approximately 9–12% of the total plant output and up to 20% with certain technologies. The unit cost of CO2 capture becomes much greater if the power plant capacity is below 200 MW. The deployment of the CCS industry will require construction of a branched pipeline system for transportation of large volumes of CO2, comparable to the gas transmission system. This will extend the potential for application of CCS technologies. The specific expenditures for pipeline transportation of CO2 are controlled by the transported amount and phase state of CO2. Increasing the transported amount of CO2 from 0.1 to 5.0 million t/year cuts down the unit cost of transportation by almost an order of magnitude. The expenditures for CO2 storage depends essentially on the characteristics of the geological reservoir. The cheapest option of CO2 storage is onshore depleted oil and gas fields. Development of the CCS technology basis requires generous state support. [ABSTRACT FROM AUTHOR]

When built environments in health care result from an evidence-based design (EBD) process, they are interventions that can improve patients' health outcomes. This commentary on a case discusses which ethical values should guide organizations' capital expenditure decisions about retrofits, which might be more costly than the original budget. This discussion urges reevaluation of the common assumption that capital improvements are "sunk costs," since such improvements can promote long-term positive health outcomes for an organization's patients, thereby advancing both financial value and ethical values. This commentary also suggests that EBD offers key interventions that are clinically and ethically relevant., (Copyright 2024 American Medical Association. All Rights Reserved.)

The paper analyzes the concept and indicator of vertical fiscal imbalance (VFI) and its capability in assessing the creditworthiness (debt sustainability) of Russian regions. It is found that VFI does not replace other indicators of debt and broader fiscal sustainability, but complements them by providing diagnostics of the balance of incoming and outgoing intergovernmental transfers in addition to the balance of expenditures and revenues (budget deficit). Vertical fiscal imbalance has a close inverse pair correlation with the share of own (tax and non-tax) revenues and fiscal capacity, and can therefore reflect creditworthiness (along with the amount of debt and capital expenditures). Technically, it is advisable to carry out an analysis using VFI with a recalculation accounting for subventions. It is concluded that vertical fiscal imbalance is an important element of the methodology of diagnosing fiscal sustainability. Further study of features of the concept, as well as the use of VFI in the analysis and regulation of intergovernmental relations, suggests a promising outlook.

This study aims to analyze the effect of Local Own Income, Balanced Funds, Capital Expenditures and Human Development Index on Economic Growth in Surakarta City 2010-2017.The method of determining the sample used in research is the saturated method. The analytical methodology used in the study was carried out with multiple regression with the SPSS 25 program. The results obtained from the research showed that local revenue, balanced funds and capital expenditures did not partially affect economic growth in the city of Surakarta during the 2010-2017 period. Meanwhile, the Human Development Index has a partial effect on Economic Growth in the City of Surakarta during the 2010-2017 period.

The present study's primary purpose is to investigate the relationship between the company's market value, capital expenditures, value creation, and the product market power of the companies listed on the Tehran Stock Exchange. The study's statistical population consists of 129 companies during 2013-2018. The Combined data method has been used to test the research hypotheses. The Herfindahl–Hirschman, the Lerner, and the Industry-adjusted Lerner Index measure product market power. To measure the company's market value, Maditinos et al. (2011) were used to measure capital expenditures. The model presented in Liao, Lin and Lin, (2016) has been used, and the Pulic Model (2004) to measure value creation. The results show a positive (negative) correlation between the market value of the company and the Herfindahl–Hirschman Index and Lerner Index (Industry-adjusted Lerner Index). There is a positive (negative) correlation between capital expenditure and the Herfindahl–Hirschman index and Lerner Index (Industry-adjusted Lerner Index). The results show a negative (positive) correlation between value creation and the Herfindahl–Hirschman Index (Lerner Index and Industry-adjusted Lerner Index).

Relevance of the research topic. The relevance of the reform of the territorial system in Ukraine was due to the fact that the administrative-territorial system in the country did not meet the requirements of transformational processes and to some extent it was an obstacle to transformations in the state, limiting the possibility of effective regional policies, and, as a result, restrained the development of as territories, So the state is generally. Formulation of the problem. One of the main tasks of administrative-territorial reform in the subregional level is to ensure the stability of natural and economic systems. Decentralization should solve the problem of low level of organization of government at the local level, ineffective management of social development, existing disproportions and inequalities at the regional level. Therefore, there is a need for methodological substantiation of the process and conditions for ensuring the stability of territories and the effective use of their natural resource and socio-economic potential as the basis of sustainable development of the national economy. Analysis of recent research and publications. Modern aspects of solving the problems of decentralization and reforming the administrative-territorial system in the country are such scientists as Pavlyuk A.P., Oliynyk D.I., Batalov O.A., Datsko O.I., Murkovych L.L., Molodozhen Yu.B., etc. [1-4]. The results of our own research on the problem are given in [5-11]. Selection of unexplored parts of the general problem. Since the issue of sustainable development of the country and its territories remains, there is a need to develop methodological principles for assessing the level of sustainability of natural and economic systems as the basis of sustainable, balanced development of territories and the country in general and the formation of conceptual principles of relevant policy. Problem statement, research goals. The above circumstances are due to the expediency of determining the levers, mechanisms and construction on their basis of the model of sustainable development policy of territories at the present stage of reforming the administrative-territorial system of the country. Method and methodology of research. In the process of conducting research, general scientific (analysis and synthesis, induction and deduction, analytical grouping) and special (abstraction, modeling, etc.) methods of studying economic phenomena and processes were used. Presentation of the main material (results of work). The study was conducted to study the dynamics and efficiency of reforming the administrative-territorial system at the basic level. The level of efficiency of the reforms carried out for the criterion of the achievement of the resistance of such a system is settled. The level of stability is preferably evaluated as follows: the resulting indicator indicating the stability - development expenditures (capital expenditures), and the factors of influence - its own resources and subsequent intergovernmental transfers: basic / reverse subsidies, educational and infrastructure subvention. The developed method was used to assess the stability of natural and economic systems of the regional level for two regions - Zaporozhye and Kherson. The obtained results indicate that in the first stage of decentralization, as expected in the construction of politician models, the policy of proportional economic stabilization with the relevant demand for capital expenditures was applied in both regions. This is evidenced by almost the same value of the share of capital expenditures per person from the magnitude of its own income per person - at 33%. The models of stabilization policy are constructed, which will ensure sustainable development of territories at the current stage of decentralization, which employs the baseline level. It is proved that in order to ensure the stability of the territories (at the level of the region or district) in the long-term perception, it is expedient to use the following types of policies (depending on the reform phase) regarding capital expenditures: a policy of proportional economic stabilization with relevant capital investment demand (capital expenditures) and the policy of differential stabilization, in which the regulation of capital expenditures is due to the rate of financial resources (ie, a derivative) is used. The simulation of the third option is also conducted when there is a shortage of financial resources for the development of territories requiring integral stabilization policy when capital expenditures (capital expenditures) are proportional to the magnitude of the financial resource deficit. Conclusions. The study of the dynamics of interconnection between capital expenditures on one person and its own incomes per person with the use of scattering diagrams and the function of mutual correlation on the example of the Zaporizhzhya and Kherson regions of Ukraine was conducted. The presence of appropriate correlation dependencies is established. The study of the dynamics of interconnection between capital expenditures on one person and an infrastructure subvention per person using the scattering diagrams and the function of mutual correlation on the example of the Zaporizhzhya and Kherson regions of Ukraine were conducted. The presence of appropriate correlation dependencies is established. The existence of joint trends for areas with different relation rates in the first stage of reforming at the baseline level has been proved. On the basis of the data obtained, the method of assessing the level of stability of natural and economic systems of the territorial level is proposed, in which the resulting indicator is proposed to consider capital expenditures (development expenditures) per person, and factors influencing its own income one person and an infrastructure subvention per person. The models of stabilization policy are constructed, which will ensure sustainable development of territories at the current stage of decentralization, which employs the baseline level. It is proved that in order to ensure the stability of the territories (at the level of the region or district) in the long-term perception, it is expedient to use the following types of policies (depending on the reform phase) regarding capital expenditures: a policy of proportional economic stabilization with relevant capital investment demand (capital expenditures) and the policy of differential stabilization, in which the regulation of capital expenditures is due to the rate of financial resources (ie, a derivative) is used. The simulation of the third option is also conducted when there is a shortage of financial resources for the development of territories requiring integral stabilization policy when capital expenditures (capital expenditures) are proportional to the magnitude of the financial resource deficit. It is proved that the success of further reforms in the country may be provided at the present stage by transition from a policy of proportional economic element to a differential stabilization policy.

We have examined whether institutional ownership and family control in Malaysia are linked to capital spending. Using panel data from 220 listed companies in Malaysia, we showed that institutional ownership is positively associated with capital expenditure (CAPEX). Consistent with institutional investors' monitoring role in corporate governance, the results indicate that this relationship was driven by the presence of growth opportunities. However, we found that family control was negatively associated with CAPEX. Additional analyses showed that this relationship was moderated by company size. While larger family firms invest less in CAPEX, smaller family firms invest more in CAPEX, indicating that the benefits of lower agency conflicts in family firms hold only for smaller firms. Our results are robust to alternative empirical measurements that account for firm characteristics and the endogeneity of institutional shareholding. [ABSTRACT FROM AUTHOR]

Objective: Deciding on the amount of capital expenditure is one of the most critical managers' decisions in companies. Information published in financial statements (mainly accounting profit) and market-based information (primarily the market value of companies) have always been considered two complementary sources of information that influence economic decisions from the perspective of users (including managers). However, the quality of companies' internal information can strengthen or weaken this influence. In other words, the quality of companies' internal environment is expected to influence both the information in financial statements, which is the product of such an environment and the market value of companies, which responds to this product. The better the accounting information quality, the more efficient investment decisions will be. In this study, the term "internal information quality" refers to the quality of the information products produced in the company's internal environment, of which accounting information is only one. According to the "internal information quality" hypothesis, this paper examines the modifying role that the company's internal information quality can play in the impact of the company's value and accounting profit on capital expenditures. Method: Two variables, including non-restatement and corporate transparency, have been selected as indicators of the quality of internal information of the company. Then, four hypotheses were compiled, and a sample consisting of 181 Tehran stock exchange listed companies in the period 2011 to 2019 was created. The research hypotheses were tested using multiple regression in Eviews 12 applying the combined data method. In addition, descriptive statistics and correlation analysis were used to analyze the data before testing the hypothesis. In this study, Limer F and Hausman tests were used to determine the nature of the combined data. Brush-Godfrey and Wiggins and poi's (2003) tests were used to determine autocorrelation and heteroscedasticity, respectively. In addition, the VIF statistic was used to test for multicollinearity. We applied the GLS method to reduce heteroskedasticity and added a first-level autoregressive variable ((AR (1)) to control for autocorrelation. To ensure that the results of the research hypotheses did not depend on the measurement method for the variable "quality of internal information," these hypotheses were retested in this study using the variable "corporate transparency" as an alternative indicator to measure the quality of internal information. Results: The results revealed that firm value and accounting profit have a positive effect on capital expenditures. This is because managers consider the market value of the company as a signal for their investment decisions, and the profitability of these decisions (capital expenditures) is reflected in the accounting profit. It was also found that the "internal information quality" hypothesis does not fit companies operating in Iran. The quality of companies' internal information does not affect the relationship between accounting profit and capital expenditure. No reliable results were found about the internal information quality effect on the relationship between firm value and capital expenditures. The results of this research show that the corporate transparency index is more consistent with the theoretical basis of this research and may be a more appropriate index to measure the quality of internal information than compared to non-restatement. Conclusion: Managers of companies operating in Iran in deciding on capital expenditures do not pay much attention to the internal information environment of the company and the information produced by it. This result is probably due to the fact that the quality of internal information is not reliable from the managers' point of view. The provision of this information is associated with high costs for the company. This means that the cost of producing information within the company outweighs the benefits. If managers focus their efforts on improving and enhancing the internal information environment, the information generated by this environment will become a powerful source of information for investment decisions and the benefits will outweigh the costs. Also, to measure companies' internal information quality, the corporate transparency variable is a more reliable indicator than the non-restatement of financial statements. Accounting profit is probably not the most influential product of companies' internal information environment. The results of this study can be helpful for regulatory bodies such as the Securities and Exchange Commission and validation accreditation bodies such as the auditing organization and the Society of Certified Public Accountants. Future researchers are also suggested to design and conduct research that can extract the essential products of companies' internal information environment from the managers' perspective and then use these products as a proxy for accounting profit in this research so that the results can be compared with the current study. [ABSTRACT FROM AUTHOR]

This paper aims to determine how much influence the Regional Original Income, communication and capital expenditures, jointly and partially have on the Provision of Incentives. The research variables are Regional Original Income (X1), General Allocation Funds (X2), Capital Expenditures (X3), and Level of Financial Independence (Y). Methods of collecting data through surveys and distributing questionnaires. The analytical method used is the classical assumption test and the Regression Estimation of the Panel Data Model, then based on the partial test (t test) obtained: (a) Regional Original Income has a positive and significant effect on the level of financial independence. (b) The general allocation fund has a positive and significant effect on the level of financial independence. (c) Capital expenditure is positive and significant to the level of financial independence. Then based on the joint hypothesis test (Test F) it can be seen that Regional Original Income, General Allocation Funds and Capital Expenditures, have a positive and significant effect on the Level of Financial Independence. Finally, the writing team suggests that the Regency and City Governments throughout the Province of West Sumatra can pay attention and improve in terms of Regional Original Income, General Allocation Funds and Capital Expenditures, on the Level of Financial Independence in order to increase the Level of Financial Independence. [ABSTRACT FROM AUTHOR]

This paper proposes a comprehensive analysis method for levelized costs of energy (LCOE) in tidal current power generation farms (TCPGFs). The detailed investment and operation costs in the life cycles of TCPGF projects are all quantified and incorporated in the calculation of LCOE, including the emission reduction benefits brought by TCPGFs. An annual electricity production (AEP) evaluation technique is proposed, in which the impacts of wake effects, TCPGF reliability and tidal current velocity (TCV) characteristics in the planning sea area are considered. A detailed capital expenditures (CAPEX) model is developed to incorporate all related costs at different stages of TCPGF project. An evaluation model considering the variations of annual operation expenditures (OPEX) is presented. The accuracy of the proposed method is verified using the measured data, which are collected from MeyGen Phase 1A project in UK and two sites located in UK and America. It can be seen from Figs. 2–3 that the repair and maintenance costs change synchronously with failure rate. This change shows a trend of first decreasing, then smoothing, and finally rising. Repair and maintenance costs account for more than 50% of OPEX. Therefore, the change trend of OPEX is similar to that of repair and maintenance costs. • A comprehensive model of levelized cost of energy is proposed. • The variations of annual operational expenditures are considered. • Reliability of tidal current power generation farms is analyzed. • The emission reduction benefits are quantified. [ABSTRACT FROM AUTHOR]

This study aims at measuring the impact of government expenditure (current and capital) on credit granted to the private sector in Jordan during the period (2002-2021). This study is based on theoretical, descriptive and econometrics analysis using Vector Error Correction Method (VECM) methodology. The study aims at studying the impact of independent variables (capital expenditures, military expenditures, expend)iture on public debt interest, and compensation of employees) on the dependent variable of credit granted to the private sector. The VECM methodology was used. The study found a long-term inverse relationship between (capital expendi)tures, and expenditure on public debt interest) towards credit granted to the private sector. It also showed a long-term positive relationship between (compensation of employees, and military expenditures) towards the credit granted to the private sector. [ABSTRACT FROM AUTHOR]

The paper explores the main factors that affect the creditworthiness of Russian regions. Knowledge of credit rating factors can help manage debt sustainability more effectively, implement a countercyclical policy, diversify debt instruments, and strengthen the fiscal sustainability of the Russian budgetary system. To determine the main factors, the credit ratings assigned by ACRA credit rating agency are analyzed. A set of economic and fiscal indicators is formed based on the analysis of press releases, the critical values are calculated, and their relationship with the current criteria of assessing the quality of regional financial management is analyzed. We found that fiscal indicators play the primary role in rating, but the institutional setting (for example, the amount of mandatory expenditures) is much less considered. The main factors of a credit rating are the share of tax and non-tax revenues in total revenues, the share of capital expenditures in total expenditures, and the amount of the regional debt. The approximate values of revenues and debt that are most likely to change a region's rating are calculated. The current criteria of the quality of regional financial management are valid due to the signs of their direct correlation to the credit rating and its factors.

Research aims: To analyze the effect of local taxes, regional retribution, special allocation fund, and area size on the allocation of capital expenditure with economic growth as a moderating variable in the regency/city Governments in Indonesia from 2016 to 2017. Design/Methodology/Approach: This study used secondary data obtained through the website of the Ministry of Home Affairs, Ministry of Finance, and Audit Board of the Republic of Indonesia. Based on the purposive sampling method, a sample of 565 regencies/cities in Indonesia was obtained. The hypothesis testing in this study used Moderated Regression Analysis. Research findings: Based on the results of the study, it could be concluded that partially the local tax variables, special allocation fund, and area had a positive and significant effect on capital expenditure allocation. In contrast, regional retribution variables did not affect capital expenditure allocation, and economic growth could moderate the effect of local tax on capital expenditure allocation, but unable to moderate the effect of regional regional on capital expenditure allocations. Theoretical contribution/Originality: This research proved the theory of fiscal federalism in the relationship to fiscal decentralization, such as local taxes, economic conditions, public services, and public welfare. Moreover, this study enriched the literature on the application of the theory of stewardship in government agencies. Practitioner/Policy implication: Regional governments in regencies/cities in Indonesia are expected to explore the potential of their regions better so that they can improve the steward function to the community. Research limitation/Implication: The research period was relatively short; due to the availability of data only from 2016 to 2017, many research data were outliers. Future research is expected to renew the observation period and change the intervening model, as well as add other variables related to capital expenditure, such as General Allocation Funds (DAU), Revenue Sharing Funds (DBH), population numbers, Budget Surplus (SILPA) and others.