Search results for "profitability"
showing 10 items of 176 documents
A decision support system based on multisensor data fusion for sustainable greenhouse management
2018
The sustainable exploitation of natural resources is nowadays an important challenge for governments and institutions, considering the expected increase of the world population. In order to respond to this emergent criticality, the principles of green economy have been introduced in the European policy discussion to achieve a good compromise between the sustainability and the profitability of productions by increasing the efficiency of farming operations. Such approach poses some technical and financial challenges for small-sized enterprises because they generally do not possess adequate internal knowledge, nor they can acquire external expertise due to their budget restrictions. Decision S…
Decision-making in energy planning. Application of the Electre method at regional level for the diffusion of renewable energy technology
2003
The authors show an application of the multicriteria decision-making methodology used to assess an action plan for the diffusion of renewable energy technologies at regional scale. This methodological tool gives the decision-maker considerable help in the selection of the most suitable innovative technologies in the energy sector, according to preliminary fixed objectives. In this paper, a case study is carried out for the island of Sardinia. This region presents, on one hand, a high potential for energy resources exploitation, but on the other hand, it represents a specific case among other Italian regions, because of its socio-economic status and history. Three decision scenarios have bee…
L'application du Management de la Qualité aux systèmes éducatifs
2019
Le «Management de la qualité » s'est développé sous la forme très globale d'un projet : projet pour l'entreprise, d'abord, qui doit assurer sa rentabilité et conquérir de nouveaux marchés dans un univers de plus en plus concurrentiel, projet pour le personnel dont l'interdépendance et les responsabilités sont affirmées quelle que soit la position hiérarchique de chacun, enfin, projet pour le client, naturellement soucieux de la qualité des biens et services qui lui sont offerts mais aussi des conditions dans lesquelles ces derniers sont produits, qu'il s'agisse du respect de l'environnement ou de considérations plus morales sur le respect des droits et de la dignité des salariés. De ce poin…
PROFITABILITY OF SMALL LOQUAT FARMS IN SICILY
2015
The northern Sicilian coastline, known for its favorable soil and climatic conditions, represents the main production area in Italy for loquat (Eriobotrya japonica Lindl.). Over the years, the absence of process innovation and appropriate marketing strategies caused a gradual decline of loquat cultivation. This study estimates the profitability of some representative Sicilian farms that grow loquat in the area of Trabia (Palermo Province), where this crop is important for the local economy. The results highlighted a productive scenario characterized by high production costs, where only a family farm that supplies much of its own labor can survive.
Profitability of artichoke growing in the mediterranean area
2015
Cultivation of artichokes for production is significant in the Mediterranean Basin. Italy represents an important productive hub and in this context, Sicily has been one of the foremost production areas. Artichoke production is a stable element of either specialized or mixed production systems in the region. However, due to the economic recession and increasing imports of artichokes from North African countries, many companies are undergoing crisis, with concerns for the negative impact on the socioeconomic fabric, in terms of the rising unemployment an eventual collapse of this specific activity would determine. According to the theory of economic development, a prerequisite of a territory…
Cooperation among competitors: A comparison of cost-sharing mechanisms
2016
Abstract In this paper, we investigate the consequences of using outcome-based versus ex ante-based cost-sharing mechanisms in terms of competing firms' profitability and total welfare. We consider two firms making a joint expenditure, which can positively affect firms' demand and/or unit operating costs, while competing in the final market by setting either price or quantity. We compare two outcome-based cost-sharing mechanisms, i.e., Quantity Proportional (QP) and Total Margin proportional (TM), with the more competitive Fixed Share (FS) mechanism where cost-sharing is set up on an ex ante basis. We show that outcome-based mechanisms, and even a fully collusive behavior induced by the opt…
Revisiting the Profitability of Market Timing with Moving Averages
2017
In a recent empirical study by Glabadanidis (“Market Timing with Moving Averages” (2015), International Review of Finance 15(13):387–425), the author reports striking evidence of extraordinarily good performance of the moving average trading strategy. In this paper, we demonstrate that this “too good to be true” reported performance of the moving average strategy is due to simulating trading with look-ahead bias. We perform simulations without look-ahead bias and report the true performance of the moving average strategy. We find that, at best, the performance of the moving average strategy is only marginally better than that of the corresponding buy-and-hold strategy. In statistical terms,…
Stress test impact and bank risk profile: Evidence from macro stress testing in Europe
2019
Abstract This study investigates the risk profile of banks that get a significant capital level reduction in the EU-wide stress test exercises. Using the CAMELS multifaceted risk approach, we look into the connection between the bank risk factors and the macro stress testing impact on capital. The results show that financial institutions that are inefficient or complex, with low profitability levels and small loan portfolio, receive highly negative results in the stress tests. As this risk profile is not consistent over time, the results support the stress tests disciplinary role, suggesting risk management strategy adjustment through consideration of prior stress test outcomes.
Boards of directors: composition and effects on the performance of the firm
2018
This paper analyses the structure of boards of directors and its impact on business performance, which is approximated by economic profitability and the Tobin’s Q ratio. We focus on three basic aspects of boards that have been reviewed in the recent reform of the Good Governance Code: the size of boards, their independence and their diversity. For the study of diversity, we use an index that integrates not only the gender of board members, but also their age and nationality, since these are factors that can influence the knowledge, experience and skills of the directors. The results confirm a high degree of compliance with the recommendations of the Good Governance Code, and suggest that th…
Financial Sector Reform After the Subprime Crisis: Has Anything Happened?
2015
We analyze the reactions of stock returns and the spreads of credit default swaps (CDS) of banks from Europe and the USA to four major regulatory reforms in the aftermath of the subprime crisis, employing an event study analysis. Contrary to public perception, we find that financial markets indeed reacted to the structural reforms enacted at the national level. The reforms succeeded in reducing bail-out expectations relative to the post-bail-out period, especially for systemic banks. The strongest effects were found for the Dodd–Frank Act and in particular for the Volcker rule. Bank profitability was affected in all countries, showing up in lower equity returns.