Search results for "equity"
showing 10 items of 399 documents
The Complexity of Value and the Evaluation of Complexity: Social Use Value and Multi-criteria Analysis
2018
The “challenge of complexity” is one of the many points of convergence between the Encyclical Laudato si’ and the evolution of post-modern scientific thought. This study aims to analyze how complexity represents the essential element of the profound renewal in the scientific paradigm of the discipline of evaluation, particularly in regard to the theory of value, the categories of value, and the instruments of multi-criteria evaluation. Some contemporary theories of value propose, in fact, a complex source of value, such as surpluses of energy and of information (Ecological Economics) or as the creative and synergistic combination of three surpluses, namely energetic and non-entropic, geneal…
The Value of Brand Equity
2013
Abstract This paper aims to be a brief presentation of brand equity as a provider of strategic advantages for companies that own brands. Successful management of a brand must be focused on values capitalization so that these attributes could represent a natural extension of general perception. The stated goal of any brand manager is to strengthen the brand values so that they may be easily recognizable and identifiable to the public.
Classification of Target Markets and Features of Segmentation in Marketing Places
2008
This paper examines target markets and the strategy of marketing places as an economic instrument directed to the development of countries, regions, cities and towns. The authors give a classification of potential target markets of a territory and their characteristics on an example of Latvia.Markets’ segmentation for realizing the strategy of marketing places is of great value as it allows concentrating activity on the most perspective directions of territory development and on methods of particular group attraction. It gives an opportunity to work with separate categories of consumers, to make marketing policy more direct and more expressive, to promote competitiveness of a territory and …
Corporate social responsibility and managerial compensation: further evidence from spanish listed companies
2021
Ongoing regulatory efforts aim to link managerial compensation with a firm’s performance. However, little is known about whether and how Corporate Social Responsibility (CSR) goals are considered in the design of the managerial compensation scheme. This paper addresses this research question by analyzing a sample of Spanish listed firms for the period spanning 2013–2018. The outcomes of the regressions suggest that there is a positive relationship between CSR and the managerial compensation, but this relationship is significant only with lower levels of CSR. The study also reveals that CSR is positively associated with the proportion of equity-based compensation and, therefore, negatively a…
Investor Motivations in Investment-Based Crowdfunding
2017
International audience; We investigate determinants of investment decisions in investment-based (equity and real estate) crowdfunding, using a novel investment-, investor- and campaign-level database. We find that this market is a man’s world, with nearly 93% of investments made by men. We find that women invest less in the riskiest investments but more in safer ones. These findings are better explained by differences in risk aversion than differences in overconfidence between men and women. Investors located in an area considered more "sociable" (socially friendly) also invest more, but only if the investor is a woman. Overall, the findings contribute to our understanding of how investment…
Hypothetical Investment Bias
2018
Young, entrepreneurial firms are particularly dependent on external investors to sustain their development. Are non-binding equity investment commitments informative? Our large sample evidence in the context of equity crowdfunding shows that only 18% of non-binding commitments made by investors in entrepreneurial firms are actually invested. The evidence is consistent with hypothetical bias. Hypothetical bias is significantly less pronounced among women, and among investors with greater social capital, proxied by education and wealth. While investment intentions are only partially reliable at the individual level, the aggregate amount of collected investment intentions is a strong predictor…
Effects of the Blair/Brown NHS Reforms on Socioeconomic Equity in Health Care
2012
The central objectives of the ‘Blair/Brown’ reforms of the English NHS in the 2000s were to reduce hospital waiting times and improve the quality of care. However, critics raised concerns that the choice and competition elements of reform might undermine socioeconomic equity in health care. By contrast, the architects of reform predicted that accelerated growth in NHS spending combined with increased patient choice of hospital would enhance equity for poorer patients. This paper draws together and discusses the findings of three large-scale national studies designed to shed empirical light on this issue. Study one developed methods for monitoring change in neighbourhood level socioeconomic…
Sequential Warrant Exercise in Large Trader Economies
2007
It is well known that the sequential (premature) exercise of American-type warrants "may" be advantageous for large warrantholders, even in the absence of regular dividends, because using exercise proceeds to expand the firm's scale increases the riskiness of an equity share. We present sufficient conditions for the non-optimality of sequential exercise implying that for realistic interest rate levels even large warrantholders are better off not to exercise long before maturity. This result, however, does not justify in general the simplifying restriction that warrants or convertible securities are valued as if exercised as a block.
Warrant Exercise and Bond Conversion in Large Trader Economies
2006
It is well known that the sequential (premature) exercise of American-type warrants may be advantageous for large warrantholders, even in the absence of regular dividends, because using exercise proceeds to repurchase stock or to expand the firm's scale increases the riskiness of an equity share. We present an upper bound on this advantage and show that this advantage is negligible for a realistic parameter setting. This result, however, does not justify in general the simplifying restriction that warrants or convertible securities are valued as if exercised as a block. It turns out that the option to exercise only a fraction of the outstanding convertibles at the maturity date (partial exe…
The Impact of CSR/ESG Reporting on the Cost of Capital: An Example of US Healthcare Entities
2021
PURPOSE: Identifying the direction and strength of the relationship between individual elements of ESG and ESG as a whole and the cost of capital (weighted average, equity, and debt) in the healthcare industry.