Search results for "Valuation"
showing 10 items of 2494 documents
Events and Trends Control in Diagnostics of Financial Capacity of Transportation Companies
2013
Investigating the impact rendered by financial capacity and its diagnostics efficiency upon the results of a company’s activity is the most important problem of modern management. The standard conventional methods and tools of the financial analysis have remained in the past. The top management of a modern company ever more often reflects on the alternative approaches for an assessment objectively capable of reflecting both the current situation and the near-term threats jeopardizing the company’s activity. One of such approaches is the business value appraisal method from the time perspective. The advantage of this approach is leading properties inherent in the indices. This article studie…
The Impact of Financial Times Deutschland News on Stock Prices – Post Announcement Drifts and Inattention of Investors
2013
Within this paper, we analyze the impact of Financial Times Deutschland (FTD) news on stock prices and trading volumes. Based on a sample of all news on German DAX, MDAX and SDAX companies published within the news section of the FTD between 2006 and 2010, our results show that articles that contain positive (negative) information are associated with significantly positive (negative) abnormal returns and abnormal trading volumes around their publication. Furthermore, our results show an initial underreaction to these articles and a subsequent post publication drift. Based on the inattention hypothesis, we show that high-attention news (proxied by abnormal trading volume) almost instantaneou…
Nonrenewable Energy Prices and Stock Prices of EU Financial Companies: A Short Versus Long-Term Analysis
2021
This paper investigates the relationship between financial companies’ stock prices and nonrenewable energy sources prices (crude oil and coal price) using a sample of major financial companies headquartered in the EU. The link between stock prices and nonrenewable energy sources prices risk is modeled using a set of macroeconomic variables, such as Brent crude oil price, coal price, local stock market indices, the EUR/USD exchange rate, long-term interest rates and a global volatility measure (VIX). We apply panel data as the base econometric model and an ARDL extension that sheds light on the long versus short-run exposure of EU financial companies to nonrenewable energy prices volatility.…
Economic valuation of knowledge-based capital: an International comparison
2020
Abstract This chapter uses an alternative approach to measuring the knowledge intensity of economies to those commonly uses that are based on the aggregation of industries according to selected indicators such as R&D expenditure or labor force skills. We follow an economic approach rooted in growth accounting methodology, determining the contribution of each individual factor (capital and labor) according to the prices of the services it provides. This methodology is applied to six American countries (the United States, Canada, and four Latin-American countries, namely Brazil, Chile, Colombia, and Mexico) and five European countries (France, Germany, Italy, Spain, and the United Kingdom). T…
The Convenience of Applying Multilevel Modeling on Real Estate Valuation
2015
There are many economic agents interested in valuing big amounts of real estate assets. One of these agents are the financial institutions, which must value their vast mortgage portfolios periodically. In this paper we analyze the use of the Hierarchical Linear Model to value real estate portfolios. This model gives valuable information compared with the traditional OLS models and is more accurate, as it takes into account the hierarchical structure of the data. DOI: http://dx.doi.org/10.4995/ICBM.2015.1314
The Global Crisis and Alternative Scenarios to Save the Euro: A Spanish Perspective
2013
That the euro was in trouble became evident after the financial markets' turmoil the summer of 2007. The global financial crisis called into question some of the dogma propounded by the champions of liberal capitalism, such as the efficiency of financial markets. Whereas in the US several banks went bankrupt, in the EU the banking sector was recapitalised, and fiscal measures were taken to support companies and families, and to stimulate the economy; moreover, an institutional framework was set up to improve financial regulation and supervision. The banking and financial crisis was followed, as usual, by a debt crisis. In 2010–11, successive European Summits accelerated the creation of fina…
Life-Cycle Costing Decision-Making Methodology and Urban Intersection Design: Modelling and Analysis for a Circular City
2021
The importance of being circular reflects one of the key concepts of the life-cycle thinking that promotes the sustainable production of goods and services. If it is true that the analysis of the product life-cycle is fundamental to optimize the use of resources and to plan for the future reduction of adverse effects on urban environment, it is also true that there are still several barriers covering conceptual and practical issues which hinder the building of shared approaches for the economic evaluation of infrastructure projects. The chapter presents a case study where the Life-Cycle Cost methodology is used to compare three alternative intersection projects based on their total life-cyc…
Stochastic multicriteria evaluation of district heating systems considering the uncertainties
2018
It is of great importance to choose a suitable district heating (DH) system for a specific DH area from the economics, environment and energy (3E) points of view. This is a multicriteria decision making problem, in which the criteria performance values (PVs) and weighting are characterized by uncertain or imprecise information. In this study, seven candidate DH systems are evaluated from the viewpoints of 3E by the stochastic multicriteria acceptability analysis (SMAA) method. SMAA is able to handle the uncertainties of the criteria PVs and the weighting at the same time. These uncertainties are very common and typical in real-life, but in most cases are not treated judiciously or just negl…
A simple procedure to improve the pressure evaluation in hydrodynamic context using the SPH
2009
In literature, it is well know that the Smoothed Particle Hydrodynamics method can be affected by numerical noise on the pressure field when dealing with liquids. This can be highly dangerous when an SPH code is dynamically coupled with a structural solver. In this work a simple procedure is proposed to improve the computation of the pressure distribution in the dynamics of liquids. Such a procedure is based on the use of a density diffusion term in the equation for the mass conservation. This diffusion is a pure numerical effect, similar to the well known artificial viscosity originally proposed in SPH method to smooth out the shock discontinuities. As the artificial viscosity, the density…
Evaluation of a short food frequency questionnaire used among Norwegian children.
2012
Objective: The aim of this study was to evaluate a short food frequency questionnaire (FFQ) against a four-day precoded food diary (PFD) with regard to frequency of food intake among Norwegian 9- and 13-year-olds. Subjects and design: A total of 733 9-year-olds and 904 13-year-olds completed first a short FFQ and one to two weeks later a four-day PFD. The short FFQ included questions about 23 food items, including different drinks, fruits, vegetables, bread, fish, pizza, sweets, chocolate and savoury snacks. The PFD covered the whole diet. Results: When comparing mean intake from the PFD with comparable food items in the FFQ, all food items showed that increasing intake measured with the PF…