Search results for "Market value"

Pathways of Innovation: The I-District Effect Revisited

2018

The I-district effect establishes the existence of dynamic efficiency in Marshallian industrial districts in the form of a positive innovative differential comparing to the average of the economy. The hypothesis has been empirically validated for the case of technological innovation using patent indicators. Empirical research has assumed that all types of patentable figures (utility models, national patents, EPO, WIPO) have the same weight regardless of its actual or expected market value, which may be questionable given the differences in coverage, protection and cost of each figure. In this article, we question the existence of the I-district effect when each patent is weighted by its exp…

Score a tweet and post a goal: Social media recipes for sports stars

2016

Abstract Sports performance is not the unique ingredient of a sports star's market value. Some gifted players are undermined by weak media exposure while some less talented players who actively engage in social media and attract fans in millions benefit from exorbitant contracts. This research conceptualizes the effect of social media in the sports business and analyzes the recipes that lead to high market value for sports stars. This study uses qualitative comparative analysis (QCA) on a sample of 95 top soccer players in Europe. The empirical results reveal that sports performance and social media activity are both necessary but insufficient conditions for a high market value condition. T…

Is the sustainability profile of FinTech companies a key driver of their value?

2022

[EN] The digitisation process is affecting all markets and raising consumer awareness about companies' sustainable behaviour. This work studies the effect of the sustainability profile of FinTech companies on the firm (market value and book value) as the factors that add value to investors and motivate their evolution in markets are still unknown. Using the KBW and Nasdaq FinTech Indices, and the NASDAQ Insurance Index (IXIS), we composed a panel of 95 companies over a 10-year period (2010-2019) with economic-financial variables and data about green certificates and sustainability indices. The applied methodology is based on dynamic (GMM-SYS) and static (PCSE) panel data models. Our results…

2014

In order to improve the market value of the product, the platform enterprise often participates in the development process of supporting product of emerging industry’s platform innovation ecosystem. This paper puts forward a revenue sharing contract between the platform company and the supporting company by creating a collaborative development model of the supporting product in the ecosystem, and this paper studies the platform enterprise investment resource property's (complementary or substitution) impact on the supporting enterprise R&D efforts and the revenue sharing factor and analyzes collaborative development mechanism of supporting product of emerging industry platform innovatio…

On the Persistent Understatement of Shareholder's Equity Around Europe

2003

We examine the existence of balance sheet conservative practices by listed companies in seven European countries, analysing the differences among them. Our results show that in every country under study there are conservative practices that lead to a persistent understatement of operating assets with respect to market value. This understatement could be mainly attributable to the usage of historic cost accounting as well as to the non-recognition of certain intangible assets. We also find that in code-law based countries balance sheet conservative practices are much more pronounced. Additionally, we analyse whether our results are influenced by a different sample composition, and if spuriou…

Local Equalization and Wide Areas Land Planning in Syracuse

2016

Abstract The implementation process of the Syracuse's Master Plan is characterized by the widespread use of “urban negotiation”. The Municipality has drawn up a protocol aimed at obtaining areas for facilities and public infrastructure in different areas basing on the rule of the transfer of a portion of land in return for the building permission for the remaining part. Since these areas are variously characterized, the negotiation process may not be fair to Municipality or convenient to land owners. Basing on an equalization pattern, this study provides, for each area, the indexes of fairness and convenience, and, more specifically, the difference between the market value of the areas achi…

Appraisal Value and Assessed Value in Italy.

2015

The appraisal value is an appraiser's opinion (not determination) of the current worth of a property on the real estate market. The assessed value is the value placed on real estate property by government assessors for determining ad valorem taxes. Assessed value is used rarely as basis for appraisal value. The Italian appraisal practice is characterized by valuations developed in subjective opinions formulated by the valuers, according to the experience and the competence rather than on the survey of the market data of comparable properties. These opinions are indicated by the term expertise, borrowed from the estimates made in the art market. In Italy, the valuation of the properties appl…

BOD7 production function of the Finnish pulp and paper industry

2001

Traditional neoclassical production theory analyzes the relationship in a production process between inputs and outputs which have a positive market value for the producer. The externalities of production, which have nonpositive market values, are discarded or included as the cost in a cost function. This paper studies the relationship between biological oxygen demand (BOD) emissions, an output of nonpositive value, and traditional factors of production, that is, investments, labor, output, and raw materials. An emissions production function is theoretically presented and empirically estimated with data from the Finnish pulp and paper industry. The approach is based on the observation that …

Corporate governance and company performance across Sub-Saharan African countries

2013

Accepted version of an article from Journal of Economics and Business This paper examines the extent to which publicly listed companies across Sub-Saharan African countries have adopted “good corporate governance” practices. We investigate the association of these practices with companies’ accounting performance and market valuation. The findings indicate that companies across Sub-Saharan Africa have only partly implemented good corporate governance practices. We find a positive association between our constructed index of good corporate governance practices and accounting performance. However, we find a negative association between the corporate governance index and the market valuation. W…

Investor Sentiment or Managerial Overconfidence: The Back Room of Acquisitions

2017

In this study, we investigate bidder performance (both in the short and the long term) in periods of high and low valuation market in response to announcements of acquisitions carried out by Spanish listed firms over the period 1991-2011. We provide evidence that bidder reaction to acquisitions, in both the short and the long term, is not consistent with the predictions of investor sentiment (optimism) after controlling for target type. However, our findings after controlling for bidder market-to-book ratio reveal under reaction in acquisitions of listed targets that is not independent of the market sentiment, since it is greater in hot periods. Finally, the results are not so consistent fo…