Search results for "Valuation"
showing 10 items of 2494 documents
Examining Benchmark Indicator Systems for the Evaluation of Higher Education Institutions
2009
Higher Education Institutions are undergoing important changes involving the development of new roles and missions, with implications for their structure. Governments and institutions are implementing strategies to ensure the proper performance of universities and several studies have investigated evaluation of universities through the development and use of indicator systems. In this paper, we review some of the systems applied to the OECD countries, with special attention to Spain. We demonstrate the difficulty involved in establishing classification criteria for existing indicators, on which there is currently no consensus.
The successful education sector development in Tanzania – comment on gender balance and inclusive education
2010
In this paper we discuss to what extent the international and national equality goals regarding gender balance and inclusive education have been reached in the education sector development in Tanzania. According to recent reports, the development trend has been generally positive, and the country is close to achieving its primary education targets. More detailed reviews suggest, however, that current monitoring and evaluation mechanisms are too narrow to catch the critical factors regarding equality, particularly in secondary education. Our comment concerns the achievements and challenges, and emphasises the significance of a multidimensional set of information including in‐depth qualitativ…
Socio-economic Disparity problems and Convergence Policy in the EU States
2016
The purpose of this paper is to investigate socio-economic development condition and convergence evaluation in the EU-28 states in the context of the EU policy goals. The arm of this research is to estimate socioeconomic disparities and convergence problems in the European states by applying real valuations of well-being situations and economic development challenges in the EU member states. The research methodology is based on the European Commission legitimate documents application and socio-economic strategies, on the convergence theory and convergence scenario calculations and the socioeconomic forecasts analysis in the EU states. This research presents information about different socio…
The effects of competitiveness on trade balance: The case of Southern Europe
2016
AbstractAccording to conventional wisdom, “peripheral” Southern European members of the euro area (Greece, Italy, Portugal and Spain) suffer from a problem of competitiveness. Since their membership of the euro area renders devaluation impossible, adjustment should come through decreasing wages and prices in these countries, which, by improving the trade balance, should lead to a recovery of previous levels of employment and growth. In this paper, the authors estimate trade balance equations for the Southern European countries, both for total trade and for the trade performed with the European Union, taking three alternative measures of the real exchange rate, based on consumption price ind…
Is Momentum in Currency Markets Driven by Global Economic Risk?
2015
This article investigates the potential link between momentum in currency returns and global economic risk as measured by currency return dispersion (RD). We find that the spread on zero-cost currency momentum strategies is larger and highly significant in high RD states compared to low RD states. Also, the relation between these momentum payoffs and global economic risk appears to increase linearly in risk. Further tests indicate that the same macroeconomic risk component in currency markets is present in global equity markets. Based on this evidence, we conclude that global economic risk as proxied by RD helps to explain currency momentum profits.
Dealing with preference uncertainty in contingent willingness to pay for a nature protection program: A new approach
2013
In this paper, we propose an alternative preference uncertainty measurement approach where respondents have the option to indicate their willingness to pay (WTP) for a nature protection program either as exact values or intervals from a payment card, depending on whether they are uncertain about their valuation. On the basis of their responses, we then estimate their degree of uncertainty. New within this study is that the respondent's degree of uncertainty is "revealed", while it is "stated" in those using existing measurement methods. Three statistical models are used to explore the sources of respondent uncertainty. We also present a simple way of calculating the uncertainty adjusted mea…
Carbon sequestration in French agricultural soils: A spatial economic evaluation
2021
International audience; Soil organic carbon sequestration measures entail costs to farmers with different individual characteristics and located in different areas. A cost‐effective analysis taking into account these heterogeneities is crucial for developing effective public policy aimed at increasing carbon sequestration. We undertake such an analysis focusing on three soil organic carbon sequestration measures: no‐till, extension of temporary grasslands, and hedgerows. Through an optimization model applied to France, our results show that only extension of temporary grasslands can store carbon at low cost, though their potential for carbon sequestration is also low. For an ambitious carbo…
Young people' s willingness to pay for environmental protection
2021
Abstract The cost of the ongoing degradation of natural capital will inevitably be borne by the younger generations. And, as the wave of school strikes for action against climate change have proved, they do not want their voice to be ignored. Discrete Choice Experiments are increasingly used for the valuation of environmental goods, but they have never been conducted with minors. We designed and administered such an experiment to elicit the willingness of children and teenagers, aged 8–19, to pay for environmental projects. The results suggest that their marginal willingness to pay is higher for projects in their own country (Italy) and that the utility of environmental protection is greate…
Stock earnings and bond yields in the US 1871–2017 : The story of a changing relationship
2021
Abstract Using historical data spanning almost 150 years, we examine whether there is a long-run equilibrium relationship between the stock's earnings and bond yields. The novelty of our econometric methodology consists in using a vector error correction model where we allow multiple structural breaks in the equilibrium relationship. The results of our analysis suggest the existence of an equilibrium relationship over 1871–1932 and 1958–2017. On the two historical segments, our analysis finds that the stock's earnings yield followed the bond yield in both the short run and long run, but not the other way around. Perhaps the most important and surprising finding of our empirical study is tha…
Pricing the Option to Surrender in Incomplete Markets
2010
New international accounting standards require insurers to reflect the value of embedded options and guarantees in their products. Pricing techniques based on the Black and Scholes paradigm are often used; however, the hypotheses underneath this model are rarely met. We propose a framework that encompasses the most known sources of incompleteness. We show that the surrender option, joined with a wide range of claims embedded in insurance contracts, can be priced through our tool, and deliver hedging portfolios to mitigate the risk arising from their positions. We provide extensive empirical analysis to highlight the effect of incompleteness on the fair value of the option.