Search results for "premium"

Factors influencing premiums and discounts for control in assessing the value of a business

2021

The issues of establishing the amounts of premiums and discounts for control in determining the value of a shareholding and the factors influencing this are among the fundamental problems of business valuation. This is due to the fact that the amount of control premium can significantly affect the market value of an evaluated business or a shareholding. The relevance of this paper lies in the fact that the results obtained in the course of the study can be used to further deepen the understanding of the influence of the degree of control on the valuation of a business (valuation of a shareholding), its characteristics, and factors affecting the size of the control premium. This contributes …

Two Relevant Forecasting Problems for Practitioners in Finance: Equity Risk Premium and Non-Performing Loans

2021

The thesis aims to substantiate whether macroeconomic factors indicators are relevant to predict both in-sample and out-of-sample assets' future performance focusing on two well-studied themes in financial economics and banking: First, the ability to predict the equity risk premium, and second, the macroeconomic determinants of non-performing loans (NPL) rates. The dissertation is divided in three chapters. Chapter 1, entitled "Forecasting the equity risk premium in the European Monetary Union", investigates the capacity of multiple economic and technical variables to predict the Euro area equity risk premium. The chapter examines the performance of several variables that could be good pred…

Empirical Study on the Relationship between the Cross-Correlation among Stocks and the Stocks' Volatility Clustering

2013

In this paper we discuss univariate and multivariate statistical properties of volatility with the aim of understanding how these two aspects are interrelated. Specifically, we focus on the relationship between the cross-correlation among stock's volatilities and the volatility clustering. Volatility clustering is related to the memory property of the volatility time-series and therefore to its predictability. Our results show that there exists a relationship between the level of predictability of any volatility time-series and the amount of its inter-dependence with other assets. In all considered cases, the more the asset is linked to other assets, the more its volatility keeps memory of …

Peut-on expliquer l'amplitude des primes d'acquisition ? Le cas des entreprises de haute technologie cotées au Nasdaq.

2005

National audience; L'objet de ce travail est de vérifier si la prime payée par les acquéreurs est fonction de leur stratégie. Notre étude empirique porte sur 237 acquisitions d'entreprises évoluant dans des secteurs de haute technologie, cotées au Nasdaq, entre mars 1997 et mars 2003. Nous ne confirmons pas l'hypothèse d'une prime plus faible en cas de diversification internationale ou de diversification des activités.

Is Sentiment Risk Priced By Stock Market?

2012

International audience; This study tests if the financial markets price the investors sentiment risk. We construct portfolios based upon the stock returns exposure to sentiment. Our results show that the portfolio returns are positively correlated with the exposure of stocks to sentiment. The strategy that consists of buying stocks with the highest exposure to sentiment and selling stocks with the lowest exposure to sentiment generates a significant raw profit. Exploring the sources of profit, we find that neither the traditional risk factors nor the momentum factor can account for the profit. However, we find that the addition of the sentiment risk premium contributes to explain the profit.

Is it all about the price? : reasons for the small market shares of organic meat and meat products in Austria

2016

Austria is one of the leading countries in the world when it comes to organic farming. A closer look at the development of the market shares of different product categories reveals however, that some segments of organic products seemed to be constantly preferred while others were neglected by Austrian consumers over the past years: According to market statistics the categories “meat & poultry” and “ham & sausages” have the lowest market shares of organic fresh produce while at the same time, organic milk and organic eggs have the highest market shares. Since all of those organic products – milk, eggs as well as meat and meat products – are food of animal origin, for which the same organic c…

Is Environmental Sustainability Also “Economically Efficient”? The Case of the “SOStain” Certification for Sicilian Sparkling Wines

2022

The Italian wine industry is strongly committed to sustainability. Among the numerous sustainability certifications and programs implemented in Italy for the wine sector, SOStain is the oldest at the regional level. The SOStain Foundation promotes the voluntary application of a sustainability program, developed in 2010 in Sicily (Southern Italy). The requirements of the SOStain specifications are connected to the new CAP 2023–2027 objectives; therefore, companies preparing for the new challenges of future winemaking might be interested in joining the SOStain Foundation for greening production practices. The objective of this study was to learn producers’ and consumers’ opinions about motiva…

Economics of wage premia and wage rigidity

2017

The focus of this dissertation is on the effects of specific employer characteristics on wages and wage rigidity and how these characteristics enter the wage-setting process. The dissertation includes an introductory chapter and five separate essays. The introduction provides motivation, background on the main keywords and an overview of the thesis. Chapters two and three study how internal references affect wages and wage rigidity from a theoretical perspective. The fourth chapter estimates the effect of firm size on wages in the Finnish labor market. Chapter five develops on the preceding and analyses how profit sharing schemes affect the firm size premium. Chapter six studies how interna…

Technological change, occupational composition, and wage premiums : evidence from linked employer-employee data

2010

Mobile game monetization

2015

Mitä rahallistamis menetelmiä on olemassa mobiilipeleille? Entä mitä täytyy ottaa huomioon sovellettaessa tiettyä rahallistamis menetelmää tiettyyn pelityyppiin? Tässä kandidaatintutkielmassa perehdytään siihen mitä mobiilipelit ovat, mikä on Apple App Store, millaisa eri pelityypepjä on, mitkä ovat eri rahallistamismenetelmät mobiilipeleille ja lopuksi rahallistamismenetelmiä käyttöönotettaessa huomioitavia asioita käsitellään luvun verran. Tukimustuloksena esitellään muutama potenttiaalinen rahallistamismenetelmä. Sekä tehdään selväksi että rahallistamismenetelmän valinta on riippuvainen pelistä. Erilaisilla peleillä ja rahallistamismenetelmillä on eri laatuvaatimukset. What are potential…