Browsing by Subject "Profitability"
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Item Comparison of LEED to Non-LEED Certified Hospitals with Regards to Patient Perspective and Financial Indicators(2012-10-19) Ulusoy, ErenAs natural resources are decreasing and environmental pollution is increasing, the buildings that play an important role in this problem should be constructed sustainably so their affects are kept to a minimum. Hospitals operate 24 hours a day and 7 days a week, therefore they are one of the largest energy consumers. Hence designers have started to design healthcare facilities according to the Leadership in Energy and Environmental Design (LEED) criteria, believing that it will reduce waste production, energy consumption and increase patient satisfaction by creating brighter and less stressful facilities. To understand if the claims are correct or not, this thesis first studied the results of the patient survey, Hospital Consumer Assessment of Healthcare Providers and System (HCAHPS), undertaken at most of the hospitals in the U.S., and compares the results to LEED and non-LEED certified hospitals. To find answers for the claims related to the financial benefits, this thesis compared three financial indicators; cost of operation of plant, profitability, and inpatient revenue. In the cases where there is a large enough sample size, a t-test is used to compare two groups, however when the sample size was not large enough, two groups are compared based on their means. For the cost of operation of plant and profitability, non-LEED certified hospitals are performing better. However, the patient satisfaction and inpatient revenues are significantly higher at the LEED-certified hospitals.Item The impact of cluster drilling technology on well productivity and profitability : a case study of the Fayetteville Shale play(2015-05) Hwang, Allen Thomas; Tinker, Scott W. (Scott Wheeler); Ikonnikova, SvetlanaHorizontal drilling and hydraulic fracturing in shale formations have led to a boom in the U.S. production of natural gas. After the commercial viability of the resource was proven, producers have been focused on innovative completion techniques to increase production and profit. While locations with high resource density and original gas in place can produce sufficient natural gas to make wells economical at relatively low prices, locations with low resource density appear non-viable. The objective of this study is to present an analysis of a new technology--cluster drilling--in the Fayetteville Shale development, highlighting the effect technology may have on well profitability. Inspired by the Fayetteville Shale-Production Outlook performed by the Bureau of Economic Geology (BEG) and funded by the Alfred P. Sloan Foundation, this study uses production history data, separating wells drilled as a cluster from analog non-cluster wells, to investigate changes in costs, production, and profitability. The study's well economics were analyzed with a discounted cash flow model that reflects how a change in a well production profile and drilling and completion costs will affect its profitability. The study uses individual well estimated ultimate recovery (EUR) projected using methods and well economics parameters reported by earlier studies of the play and investor presentations. The analysis produced several important results. First, on a per-well basis, non-cluster wells are, perhaps surprisingly, expected to recover more natural gas than cluster wells. Wells in the non-cluster drilling pattern outperform cluster wells in both productivity and profit. However, the well density of cluster drilling results in a higher recovery factor for a given volume of rock, thus a more thorough extraction of the resource. Second, while a cluster pattern produces more gas from a unit of volume, equating to a higher recovery factor, that production comes at higher cost. The analysis reveals the requisite reduction in drilling and completion costs for cluster wells to match profit levels of non-cluster wells in a given lease. Finally, the analysis suggests an operator may choose to forego monetary efficiency, measured by the present value index (PVI), for higher gas recovery factor provided by cluster drilling.Item The impact of delivery methods on the profitibility of commercial construction(2011-12) Herndon, Michael Brett; Nichols, Steven Parks, 1950-; McCann, Robert B.According to September 2011 information from the U.S. Census Bureau, the construction industry in the United States is valued at nearly eight hundred billion dollars annually. A 2004 collaborative study by Construction Industry Institute and Lean Construction Institute suggests that as much as fifty seven percent of time, effort, and material investment in construction projects do not add value to the final product. When compared with twenty six percent wastes in the manufacturing industry, it becomes obvious that the construction industry has a problem. Construction projects that come in over budget and behind schedule have become the rule rather than the exception, leading to contentious business relationships and costly litigation. This study will strive to identify and analyze the primary sources of these problems. Research and industry experience point to a lack of communication and cooperation among the various entities required to complete a construction project as the leading causes of waste in the industry. Further analysis suggests that traditional forms of construction contracts encourage adversarial and non-cooperative behavior between parties. Additionally, poor communication between various contributors opens the door for additional wasted cost. Fortunately, the development of tools such as Integrated Project Delivery (IPD) and Building Information Modeling (BIM) present new options to construction professionals that are proving to help address some of the challenges the industry faces today. IPD as a project delivery method creates a culture of collaboration and teamwork, where a culture of risk avoidance and conflict once stood, while BIM provides a platform for better communication among parties. When used together, these tools can reduce or eliminate many of the major sources of waste within the industry. This thesis will provide descriptions, analysis, and case studies that demonstrate the use of these tools and the potential they have to make a positive impact on the construction industry.Item Impact of financial leverage on profitability in lodging companies: An analysis on RevPAR(2011-05) Kang, Hyun O.; Fowler, Deborah C.; Yuan, JingxueIn 2009, the U.S. lodging industry suffered a double-digit drop, 16.7 percent, in revenue per available room (RevPAR). The occupancy rate and average daily rate (ADR) went down 8.7 and 8.8 percent respectively. In this situation, it is necessary for the management of lodging firms to find a way to improve profitability. However, before finding a way to improve profitability, understanding industry-specific characteristics of the lodging industry is necessary; of these characteristics, capital structure was the focus of this study. According to the prior research, RevPAR was considered as one of the determinants for profitability. However, there was little research to investigate the relationship between RevPAR and debt ratio. Therefore, the objectives of this study were to investigate (a) the determinants of the leverage, (b) the relationship between RevPAR and debt ratio, and (c) the relationship between profitability and debt ratio. In order to find the relationship among the factors financial data and RevPAR data for several the lodging companies were collected. The RevPAR and the other financial data for the lodging industry between 2001 and 2010 were retrieved from the COMPUSTAT database. After deleting observations with missing data and outliers 193 observations for the lodging firms remained for the analysis. The average return on asset during the period 2001 to 2010 was -0.58%. The negative value of the average ROA ratio from 2001 to 2010 showed that lodging companies recorded low profit during that period due to the global recession. From the results of this study, there was a positive relationship between debt ratio and PP&E ratio and RevPAR. The lodging firms with high long-term debt ratio and also with high PP&E ratio would have higher room rates, and this could result in higher RevPAR. However, from the results of this study, RevPAR and revenue had a significant negative relationship. In general, there is negative relationship between growth opportunities and debt ratio. The results of this study showed that there was no significant relationship between debt ratio and growth opportunities in this study. According to the results of this study, long-term debt ratio was negatively related to profitability (ROA). Most lodging firms showed a decrease in total revenue during the period. However, interest expense for long-term debt did not change because it was considered a fixed cost. Therefore, the firms with higher debt ratio may have low profitability because they had to serve their long-term debt. This study found an inverted U-shaped relationship between debt ratio and profitability. This inverted U-shaped relationship between debt ratio and profitability may indicate that there is an optimal debt ratio, and that firms which exceed the optimal level are not effective in increasing a firm’s value or profitability. The results of this study may indicate that when debt ratio exceeds the optimal ratio this may have an effect on profitability of the lodging industry firms.Item Irrigation response in cotton to optimize yield, quality and profitability in the Texas high plains(2009-05) Mathis, Garrett M.; Bednarz, Craig W.; Johnson, Jeff; Boman, Randal K.An imperative issue facing production agriculture on the South Plains is water availability. Over time, water has been drawn out of the Ogallala Aquifer at a rate that exceeds its ability to recharge. Therefore, efficient irrigation levels and seeding rates that optimize cotton quality and yield are vital to this region. A two-year study consisting of one cotton variety, three levels of irrigation and three diverse plant populations was located at two locations in Lubbock County, Texas in 2007 & 2008. Irrigation played a significant role in many yield and fiber quality measurements. The lowest irrigation treatment matured the earliest and produced low yields but had the highest micronaire values. Lint yields were highest for the high irrigation treatment at two of the three locations, but saw decreased fiber quality due to lack of maturity. Seeding rate played a small role in determining yield and fiber quality. Three different weather patterns had varying effects on the results of this study. An economic analysis determined the net return from lint with regard to variable inputs in order to provide profitability comparisons for the producer. The highest net returns from lint ranged from $1,308.34 (Quaker 2007) to $2,851.62 (Quaker 2008). We conclude that weather patterns, coupled with irrigation, heavily impact fiber yield and quality in the Texas High Plains.