Search results for "G1"
showing 10 items of 717 documents
Prostasome-like vesicles stimulate acrosome reaction of pig spermatozoa
2007
Abstract Background The presence of small membranous particles characterizes the male genital fluids of different mammalian species. The influence of semen vesicles, denominated prostasomes, on sperm functional properties has been well documented in humans, but their biological activity is scarcely known in other species. The present work investigated prostasome-like vesicles in pig semen for their ability to interact with spermatozoa and to affect acrosome reaction. Methods Prostasome-like vesicles have been isolated from pig seminal plasma by high-speed centrifugation and Sephadex G-200 gel chromatography. Morphology of purified vesicles has been checked by scanning electron microscopy wh…
On the italian debate concerning “Economia Aziendale”. The recent discovery of a manuscript by Emilio Ravenna (1930)
2016
The paper relies upon the recent discovery of the textbook of Accounting adopted in Palermo’s High Business School (the ‘ancestor’ of the Faculty of ‘Economics & Business’, founded after in 1936), just in its first years of opening (academic year 1930-31). It is a printed manuscript. This book was written by the local professor of Accounting, Emilio Ravenna, who operated in Sicily between the last decades of XIX century and the firstones of XX one, commonly considered (Guzzo, 2003) an intermediate scholar between the ‘Venetian’ (Besta) and ‘Tuscan’ (Cerboni) Italian Schools, adhering to the former for the accounting method and to the latter for the general theory of administrative funct…
Catastrophic risks and the pricing of catastrophe equity put options
2021
In this paper, after a review of the most common financial strategies and products that insurance companies use to hedge catastrophic risks, we study an option pricing model based on processes with jumps where the catastrophic event is captured by a compound Poisson process with negative jumps. Given the importance that catastrophe equity put options (CatEPuts) have in this context, we introduce a pricing approach that provides not only a theoretical contribution whose applicability remains confined to purely numerical examples and experiments, but which can be implemented starting from real data and applied to the evaluation of real CatEPuts. We propose a calibration framework based on his…
Market valuation and acquiring firm performance in the short and long term: Out-of-sample evidence from Spain
2019
We investigate bidder’s short- and long-term performance in periods of high and low valuation market in response to announcements of acquisitions carried out by Spanish listed firms over the period 1991–2016. We find that acquirers of unlisted targets fully react at the announcement date in high valuation periods, meanwhile the underreaction of listed target bidders at the moment of the announcement in low valuation markets is the result of return continuations. In addition, we find that the market reaction do not depend on recent merger history. Therefore, we provide evidence that bidder reaction to acquisitions is not consistent with the predictions of market sentiment (optimism) after c…
El éxito de los procesos de fusión en el mercado de auditoría: el caso de PriceWaterhouseCoopers
2019
Este trabajo ofrece evidencia sobre el resultado de la fusión de Price Waterhouse y Coopers & Lybrand respecto a 2 de los objetivos que pretendían alcanzarse con la operación empresarial, como son el crecimiento de la nueva compa˜nía en términos de cifra de negocios y el aumento de la cuota de mercado. El estudio, aplicando metodología utilizada en trabajos anteriores, comprende el periodo 1997-2003, incluyendo 5 a˜nos posteriores a la fusión, que se llevó a cabo en 1998. Los resultados revelan que PriceWaterhouse y Coopers & Lybrand hubiesen alcanzado una cuota de mercado y una facturación inferior a la de sus competidores más directos en caso de no haberse fusionado, aunque las diferencia…
The Institutional Determinants of Private Equity Involvement in Business Groups: The Case of Africa
2018
This study examines the governance attributes of post-IPO (initial public offering) retained ownership of private equity in business group constituent firms in contrast to their unaffiliated counterparts, in 202 newly listed firms in 22 emerging African economies. We adopt an actor centered institutional-theoretic perspective in rationalizing institutional voids and the advantages of maintained governance by both business angels (BA) and venture capital (VC) private equity. Our findings reveal private equity retain higher post-IPO ownership in business group constituents compared to unaffiliated firms and that this is inversely moderated in the context of improving institutional quality – w…
Stress test based on Oliver Wyman in Bank of Spain: an evaluation
2016
This paper, based on econometric techniques, has done a study to improve the predictions of the stress test, concerning the estimation of impairment losses. The main results obtained are: 1) the impact of the explanatory variables on the impairment loss is different at stages of growth, compared to times of recession; 2) there is a certain inertia of the dependent variable, but this inertia is different in intensity, and even the sign in the growth stages concerning the stages of recession; 3) of the explanatory variables, nominal GDP and equity are those that have a greater impact on the impairment loss; 4) finally, the two dummy variables that assess the impact of adjustment to market val…
New frontiers in tourism: destinations, resources, and managerial perspectives
2018
Kozak, M., Rita, P., & Bigne, E. (2018). New frontiers in tourism: destinations, resources, and managerial perspectives. [Editorial]. European Journal of Management and Business Economics, 27(1), 2-5. DOI: 10.1108/EJMBE-03-2018-066
¿Quién paga, quién gana? El caso de la venta del BdV
2016
ResumenEl proceso de venta del Banco de Valencia gestionado por el FROB duró 10 días. La venta se adjudicó a CaixaBank por un euro después de recibir 5.500 millones de fondos públicos. El informe de Oliver Wyman de 2012 motivó dicha reanudación. En él se estimaban unas necesidades de 1.846 millones en el escenario base, escenario que ha sido peor que el real.Este trabajo analiza el valor del BdV. Los resultados indican que el valor mínimo del BdV para CaixaBank es de más de 4.000 millones de euros. Sin embargo, no se ha podido determinar el porqué de esta diferencia. Diferencia reconocida en las cuentas de CaixaBank. Sin embargo, el precio pagado, un euro, después de un sacrificio muy impor…
MARKET CORRELATION, MARKET RETURNS AND PORTFOLIO IMPLICATION
2012
In this paper we examine the market correlation and market returns from Romanian perspective. Market returns are higher in emerging markets than developed market returns, but form portfolio perspective it`s also important to evaluate how much correlations are changing in emerging markets. Our results are important in allocation of financial instruments in institutional portfolio management.