Search results for "financial analysis."
showing 10 items of 38 documents
The economic impact of European financial integration: The importance of the banking union
2015
Abstract The aim of the paper is to analyze the effect of European financial integration on economic growth. We focus on how the international financial crisis that started in 2007 has affected integration and growth. By combining information at country, sector and firm level, we quantify the effect of financial integration on financial development and therefore on economic growth. Our results illustrate that until the outbreak of the crisis, a significant part of financial development is attributable to progress in integration, with a positive contribution of around 0.04 pp to the EU-15 countries’ GDP growth over the period 1999–2007 of advance in integration. However, during the crisis, t…
Cost-benefit analysis: A comparison between conventional and organic olive growing in the Mediterranean Area
2015
The conversion from conventional to organic management of olive growing has many benefits, such as increase of biodiversity, reduction of soil erosion and lower environmental impact. Since olive represents a main crop in the Mediterranean area, from a social, economic as well as environmental point of view, the aim of this paper has been to determine if the conversion from conventional to organic olive growing can increase the profitability of the farmer in Sicilian farms. Economic analysis has been carried out by means of cost-benefit analysis and financial indicators (NPV, B0/C0, IRR) show that organic growing would allow a better profitability for organic olive farms respect to conventio…
Challenges for Financial Managers in a Changing Economic Environment
2015
Abstract The fast changes and challenges that took place in the economic environment in the last years broadened the role of financial managers. If their basic responsibilities were linked mainly to financial reporting, financial planning, capital budgeting, capital structure, nowadays a stronger strategic dimension defines the role of financial managers. In addition, an important role is given to the financial manager in communicating professionally not only to the investors but also to the board. The aim of this paper is to give an overview of the challenges that the current economic context is bringing to the finance function and to present how the role of the financial managers is chang…
WORKING CAPITAL AS AN ENTERPRISE VALUE ASSESSMENT TOOL
2019
The valuation of an entity in off-exchange transactions involves the use of different techniques. Nevertheless, none of them guarantees the most accurate result. Therefore, it is very difficult to choose one evaluation method. Both investors, corporate managers, financial professionals, portfolio managers, and securities analysts should have a basic understanding of the process of evaluating companies. To that end, professionals recommend evaluating a company’s financial reports to detect its financial position and solvency. According to the methods of financial analysis, working capital is one of the solvency ratios, which describes the value of resources that remain after the company’s cu…
Choice between alternative investments in agriculture: The role of organic farming to avoid the abandonment of rural areas
2015
Abstract Sicily has a long tradition in citrus fruit cultivation that, with vineyard and olive tree, represents the main Mediterranean tree crops. Since many Sicilian farmers in recent years have decided to abandon conventional lemon orchards, in this paper we have evaluated the financial sustainability of organic lemon production by comparing it with the conventional one. Financial analysis has been carried out in a case study on the northwestern coast of Sicily, considering a 50-year economic life of an orchard. The results, per hectare of area, showed a clear advantage of organic lemon orchard. This was due to fewer labor requirements and to greater market appreciation for organic produc…
Financial Sustainability and Morphogenesis of Urban Transformation Project
2015
The urban transformation projects are very complex and have to be examined from several points of view (socio-cultural, environmental, infrastructural, administrative, and economic-financial) to determine their sustainability. This study aims to test the financial analysis as a tool for outlining the morphogenesis of the project’s characteristics and exploring the frontiers of the financial feasibility especially when the urban projects, according to Italian laws, involve Public Private Partnerships (PPPs). A financial model is applied to a case study (the transformation of an abandoned railway area) in which the absence of an adequate returns on investment, because of the crisis of the rea…
Effects of contextual variables on strategic investment decision-making styles: An empirical study from Pakistan.
2022
There is a gap in the literature of strategic investment decision making (SIDM) concerning the links between context variables, infrastructure and SIDM practices (or SIDM styles) in developing countries. This research aims to fill that gap. Survey data (N = 128) from the manufacturing companies listed on the Pakistan Stock Exchange was collected via an e-mailed questionnaire and visits to the companies. Data are analyzed with factor analysis and multiple regression analysis. The results reveal what we call four different SIDM styles (or emphases): managerial power-, financial analysis-, top management-, and strategy-based investing. These styles are considered to be novel perspectives on SI…
Using Principle of Complementarity when Diagnosing Complex Logistic Activities by Applying Alternative Approach
2012
The paper considers the problem of obtaining new data in process of diagnostics of a recognized transportation company. Such knowledge should not contradict to existing theories and objective means, but should be aimed instead at improving the diagnoses issued. By investigating the methodological problem by virtue of the principle of complementarity, the goals of making fundamental changes are achieved without disturbing the efficiency of the enterprise activities.
Stochastic modeling of Supramax spot and forward freight rates
2015
We conducted an empirical analysis of Supramax spot rates and propose a continuous time process to model the dynamics. The model incorporates features relevant for shipping freight rates, freight rate volatility that varies over time, sudden, big freight rate movements, and short-term, mean-reverting price trends. This suggests some degree of short-term predictability of Supramax spot rates, making shipping different from traditional asset markets, like stocks and currencies, and also most commodity markets. However, this does not imply that arbitrage profits are easily picked up in this market, as, financially speaking, spot freight rates are not traded assets. We instead focus on the rela…
Study on the financial performance of companies operating in the pharmaceutical industry in romania
2016
Abstract The study aims at determining the financial performance of companies in the pharmaceutical industry between 2009 and 2014 by means of the indicator of the financial return rate, using multiple linear regressions as research method. By analysing the evolution of the share of companies in the pharmaceutical industry based on the trend of the financial rate of return, we can estimate that the number of entities that resort to supporting the financial activities from loans and liabilities is growing in the period under analysis. This is due mainly to the liquidity crisis faced by entities, as a result of the high recovery duration of debts. Also, using the multiple linear regression we…