The Sky is the Limit? The Determinants and Constraints of European Airports' Commercial Revenues

This study investigates the determinants of commercial and retail airport revenues as well as revenues from real estate operations. Cross-sectional OLS, 2SLS and robust regression models of European airports identify a number of significant drivers of airport revenues. Aviation revenues per passenger are mainly determined by the national income per capita in which the airport is located, the percentage of leisure travelers and the size of the airport proxied by total aviation revenues. Main drivers of commercial revenues per passenger include the total number of passengers passing through the airport, the ratio of commercial to total revenues, the national income, the share of domestic and leisure travelers and the total number of flights. These results are in line with previous findings of a negative influence of business travelers on commercial revenues per passenger. We also find that a high amount of retail space per passenger is generally associated with lower commercial revenues per square meter confirming decreasing marginal revenue effects. Real estate revenues per passenger are positively associated with national income per capita at airport location, share of intra-EU passengers and percent delayed flights. Overall, aviation and non-aviation revenues appear to be strongly interlinked, underlining the potential for a comprehensive airport management strategy above and beyond mere cost minimization of the aviation sector.Commercial revenues, non-aviation activities, European airports, regression analysis

Prediction model for financing of basic transport services

The paper is focused on comparison of actual values and predicted values of revenues to passed kilometer of bus connections. The model is based on prediction of bus carrier's revenues by force of neural networks (NN). The revenues are part of a demonstrable loss calculation

Does Better Environmental Performance Affect Revenues, Cost, or Both? Evidence From a Transition Economy

This study analyzes the effect of corporate environmental performance on financial performance in a transition economy. In particular, it assesses whether good environmental performance affects revenues, costs, or both, and if so, in which directions. As environmental performance improves, do revenues rise and costs fall so that profits unambiguously increase? Or vice versa? If both revenues and costs rise (or fall), does better environmental performance improve or undermine profitability? To answer these questions, our study analyzes the links from environmental performance to revenues, costs, and profits using an unbalanced panel of Czech firms from the years 1996 to 1998. The analytical results indicate strongly that better environmental performance improves profitability by driving down costs more than it drives down revenues, consistent with the substantial regulatory scrutiny exerted by environmental agencies and the primary pollution control approach implemented by firms during the sample period.http://deepblue.lib.umich.edu/bitstream/2027.42/57236/1/wp856 .pd

Water for Forest: Potential impact of alternative land setaside programs at village and farm levels in the mountainous areas of Vietnam

The uplands of Northern Vietnam, often having low agricultural productivity, are home to the poorest of the rural poor. The ecosystem services such as food production for marginalized populations, biodiversity reservoirs, and watershed regulating functions have been under increasing pressure due to decollectivisation and the following redistribution of the land, liberalization of the markets and a rapid population growth. To partly reverse these major changes we analyzed the impact of alternative schemes on farm revenues that would set aside cultivated land for forest natural re-growth. Instead of farmers receiving individual financial rewards, we explored the impact of improving collective infrastructures so that more water is made available for irrigation. Using mathematical programming a farm model was developed, in which we investigated scenarios where some land in the sloping area of the catchment is set aside for forest natural re-growth (which aims at restoration of watershed functions), while additional land is made irrigable in the lowland compartment of the farms. The impacts on land use, individual farm revenues, per head revenues and village revenues were analyzed. This led us to conclude that a reduction of cropped area in the sloping compartment, associated with a small increase in irrigable land in the lower compartment, had little impact on the aggregate village revenues. Moreover, under most scenarios, revenues were more equally distributed among households of a community. In fact, careful distribution of small quantities of irrigable land could be very beneficial to irrigation-poor farmers, while the revenues of the more well-off ones are almost not affected. However, this would require some coordination at village or commune levels, and a deliberate choice to help the poorly endowed households. (Résumé d'auteur

Resources for Peace? Managing Revenues from Extractive Industries in Post-Conflict Environments

Revenues from extractive sectors such as oil and gas, minerals, and logging play an important role in many post-conflict environments, often providing more than 30% of state fiscal receipts. When managed well, these revenues can help to finance postwar reconstruction and other vital peace-related needs. When mismanaged, however, resource revenues can undermine both economic performance and the quality of governance, thereby heightening the risk of renewed violence. This paper offers a number of proposals for managing revenues from extractive industries to better support peacebuilding.Extractive resources; oil revenues; peacebuilding; revenue-sharing

Fluctuations of company yearly profits versus scaled revenue: Fat tail distribution of Levy type

We analyze annual revenues and earnings data for the 500 largest-revenue U.S. companies during the period 1954-2007. We find that mean year profits are proportional to mean year revenues, exception made for few anomalous years, from which we postulate a linear relation between company expected mean profit and revenue. Mean annual revenues are used to scale both company profits and revenues. Annual profit fluctuations are obtained as difference between actual annual profit and its expected mean value, scaled by a power of the revenue to get a stationary behavior as a function of revenue. We find that profit fluctuations are broadly distributed having approximate power-law tails with a Levy-type exponent $\alpha \simeq 1.7$, from which we derive the associated break-even probability distribution. The predictions are compared with empirical data.Comment: 6 pages, 6 figure

Essential Entry: Revenues in the 700 MHz Spectrum Auction

A common misconception is that an open access provision on a sliver of the 700 MHz spectrum would reduce auction revenues. In fact, the open access, wholesale, and bidding credit provisions put forth by Frontline Wireless, will motivate new entry, enhance competition in the auction, and raise revenues.Auctions, spectrum auctions, market design

THE IMPACT OF ECONOMIC CRISIS ON THE FISCAL REVENUES

This paper tries to evaluate the situation of the fiscal revenues in Romania in the context of economic and financial crisis, because the fiscal revenues are the major source of financing the public expenditure. The evolution of the level of fiscal revenufiscal revenues, budget deficit, public debt

Efficient consumption of revenues from natural resources – An application to Norwegian petroleum revenues

This paper addresses the so-called natural resource curse by devising a rule that can reduce macroeconomic costs associated with the consumption of revenues from natural resources. It assumes that such macroeconomic costs are mainly brought about by changes in the real exchange rate, which adjusts in order to maintain external balance. Thus it derives a consumption rule, denoted as the efficient consumption rate, that would make the behaviour of the real exchange rate mimic that of the real exchange rate in the absence of natural resources. Accordingly, growth of exports and imports of traditional goods and services, and implicitly the sectoral composition of the economy, become largely immune to the consumption of natural resources. The theoretical framework is applied to estimate and evaluate an efficient consumption rate for Norway’s sizeable petroleum revenues.Natural resources, Dutch disease, real exchange rate.