Critical issues in microbusiness finance and the role of donors . [Version Sept. 1977]

In the early 1990s, a consensus emerged among the leading experts in the field of small and micro business finance. It is based on three elements: The focus of projects should be on improving the entire financial sector of a given developing country; a commercial approach should be adopted, which implies covering costs and keeping costs as low as possible; and institutions should be created which are both able and willing to provide good financial services to the target group on a lasting basis. The starting point for this paper, which wholeheartedly endorses these three elements, is the proposition that putting these general principles into practice is much more difficult than some of their proponents seem to believe - and also more difficult than some of them have led donors to believe. The paper discusses the central issues of small and micro business financing in three areas: credit in general and the cost-effectiveness of lending methodologies in particular (Section II); savings in general and the role of deposit-taking in the growth of a target group-oriented financial institution in particular (Section III); and the process of creating viable target group-oriented financial institutions in developing countries (Section IV). We argue that donor institutions must be willing, and prepared, to play a role here which differs in important respects from their conventional role if they really wish to support sustainable financial sector development

Regional Entrepreneurial Opportunities in the Biotech Industry: Exploring the Transition from Award-winning Nascent Entrepreneurs to Real Start-ups

Knowledge of factors that determine the transition from nascent entrepreneurship into real entrepreneurship is of major importance for policies aiming to effectively stimulate start-ups. Whereas scholars concentrated on person-specific factors to explain transition probabilities, environmental characteristics have been fairly neglected. Given that entrepreneurship is a strongly localized phenomenon, this paper argues that regional entrepreneurial opportunities are a driving force behind the transition from nascent entrepreneurship to new venture creation. Based on unique data on 103 nascent entrepreneurs in the German biotechnology industry, we empirically assess the importance of regional entrepreneurial opportunities on transition probabilities. Further, we introduce a new approach to measure nascent entrepreneurship by capturing individuals that actively participate in start-up competitions and have won at least one competition. Controlling for technology and individual characteristics, we find strong support for our hypotheses relating to the significant impact of general regional opportunities, specific regional opportunities and the entrepreneurial environment for the probability of transition from award-winning nascent entrepreneurs to real start-ups.nascent entrepreneurship, entrepreneurial opportunities, start-ups, regional environment, biotechnology, R&D

Organic Farming Scenarios: Operational Analysis and Costs of implementing Innovative Technologies

The objective of this study has been to design a number of farm scenarios representing future plausible and internally consistent organic farming enterprises based on milk, pig, and plant production and use these farm scenarios as the basis for the generation of generalised knowledge on labour and machinery input and costs. Also, an impact analysis and feasibility study of introducing innovative technologies into the organic production system has been invoked. The labour demand for the production farms ranged from 61 to 253hha1 and from 194 to 396hLU1 (LU is livestock units) for work in the animal houses. Model validation results showed that farm managerial tasks amount to 14–19% of the total labour requirement. The impact of introducing new technologies and work methods related to organic farming was evaluated using two innovative examples of weed control: a weeding robot and an integrated system for band steaming. While these technologies increased the capital investment required, the labour demand was reduced by 83–85% in sugar beet and 60% in carrots, which would improve profitability by 72–85% if fully utilised. Profitability is reduced, if automation efforts result in insufficient weed removal compared to manual weeding. Specifically, the benefit gained by robotic weeding was sensitive to the weed intensity and the initial price of the equipment, but a weeding efficiency of under 25% is required to make it unprofitable. This approach demonstrates the feasibility of applying and testing operational models in organic farming systems in the continued evaluation and documentation of labour and machinery inputs

Ceramic coating effect on liner metal temperatures of film-cooled annular combustor

An experimental and analytical investigation was conducted to determine the effect of a ceramic coating on the average metal temperatures of full annular, film cooled combustion chamber liner. The investigation was conducted at pressures from 0.50 to 0.062. At all test conditions, experimental results indicate that application of a ceramic coating will result in significantly lower wall temperatures. In a simplified heat transfer analysis, agreement between experimental and calculated liner temperatures was achieved. Simulated spalling of a small portion of the ceramic coating resulted in only small increases in liner temperature because of the thermal conduction of heat from the hotter, uncoated liner metal

Fractals and dynamical chaos in a random 2D Lorentz gas with sinks

Two-dimensional random Lorentz gases with absorbing traps are considered in which a moving point particle undergoes elastic collisions on hard disks and annihilates when reaching a trap. In systems of finite spatial extension, the asymptotic decay of the survival probability is exponential and characterized by an escape rate, which can be related to the average positive Lyapunov exponent and to the dimension of the fractal repeller of the system. For infinite systems, the survival probability obeys a stretched exponential law of the form P(c,t)~exp(-Ct^{1/2}). The transition between the two regimes is studied and we show that, for a given trap density, the non-integer dimension of the fractal repeller increases with the system size to finally reach the integer dimension of the phase space. Nevertheless, the repeller remains fractal. We determine the special scaling properties of this fractal.Comment: 40 pages, 10 figures, preprint for Physica

Claus H. Geisel to Mr. James H. Meredith (11 October 1962)

https://egrove.olemiss.edu/mercorr_pro/2119/thumbnail.jp

Letter from C. H. Claus to T. B. Larimore

Letter from C. H. Claus to T. B. Larimore. The two-page handwritten note is dated 25 November 1912. There is a transcript of the correspondence in the item PDF

Enhancement of the Critical Current Density of YBa2Cu3Ox Superconductors under Hydrostatic Pressure

The dependence of the critical current density Jc on hydrostatic pressure to 0.6 GPa is determined for a single 25-degree [001]-tilt grain boundary in a bicrystalline ring of nearly optimally doped melt-textured YBa2Cu3Ox. Jc is found to increase rapidly under pressure at +20 %/GPa. A new diagnostic method is introduced (pressure-induced Jc relaxation) which reveals a sizeable concentration of vacant oxygen sites in the grain boundary region. Completely filling such sites with oxygen anions should lead to significant enhancements in Jc.Comment: revised manuscript, graphic errors in figures correcte