Search results for "profitability"
showing 10 items of 176 documents
Ethical Banking and Conventional Banking. Triodos Bank vs Banco Santander
2019
La crisis financiera de 2008 ha provocado cambios en la estructura bancaria tradicional, generando una desconfianza por parte de los ciudadanos con el sistema financiero tradicional, como consecuencia de ello ha surgido otro tipo de banca, la Banca Ética. El objetivo de este trabajo es estudiar si la Banca Ética puede llegar a ser igual de rentable que la Banca Tradicional, invirtiendo principalmente en valores sociales. Para ello, se realiza un análisis comparativo entre la Banca Ética (Triodos Bank) y la Banca Tradicional (Banco Santander). Para alcanzar el objetivo propuesto se realiza un análisis económico centrado en la actividad financiera de ambas tipologías de bancos durante el perí…
Keep the faith in banking : New evidence for the effects of negative interest rates based on the case of Finnish cooperative banks
2021
This paper analyses the profitability of Finnish cooperative banks during the period of negative nominal interest rates. Contrary to expectations, the continuous decline in money market interest rates between 2009 and 2014, and the following negative rate era, did not have adverse effects on the profitability of banks at the beginning of negative interest rate period. Based on especially using a risk-adjusted measure for bank profitability, these results contrast with previous findings. In our findings, the increasing wholesale funding (WSF) ratio seems to be an important factor. However, after 2017 the banks have not been able to improve especially their risk-adjusted profitability so stro…
The Influence of the Endogenous and Exogenous Factors on Credit Institutions’ Return on Equity
2015
Abstract The research’s purpose is to study the credit institutions’ performance, from the shareholders’ point of view, through return on equity (ROE). It aims to identify a dependency relationship between return on equity (ROE) and endogenous factors (the growth rate of credit portfolio, the growth rate provisions, the solvency ratio), on the one hand and, on the other hand between ROE and the exogenous ones (GDP and inflation rate). The research was done over an horizon of 10 years (2004-2013) on the evolution of the return on equity indicator of two credit institutions listed on Bucharest Stock Exchange (Carpathian Commercial Bank SA and Banca Transilvania SA), highlights their vulnerabi…
Revisiting the Profitability of Market Timing with Moving Averages
2016
In a recent empirical study by Glabadanidis ("Market Timing With Moving Averages" (2015), International Review of Finance, Volume 15, Number 13, Pages 387-425; the paper is also available on the SSRN and has been downloaded more than 7,500 times) the author reports striking evidence of extraordinary good performance of the moving average trading strategy. In this paper we demonstrate that "too good to be true" reported performance of the moving average strategy is due to simulating the trading with look-ahead bias. We perform the 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 stra…
A comprehensive tool for efficient design and operation of polygeneration-based energy μgrids serving a cluster of buildings. Part II: Analysis of th…
2013
Abstract The potential of polygeneration systems, in terms of profitability, energy saving and pollutant emissions reduction, highly depends on several factors such as plant efficiency, local normative and tariff conditions and reference technologies adopted to compare the results. In Part I of this paper a reliable tool was described, capable of optimizing the lay-out, design and operation of an integrated polygeneration system serving a cluster of buildings with their heat, cooling and power demand; the tool represents an excellent instrument to perform sensitivity analyses, thus enabling the analyst to formulate general design criteria and predict the effects of any change in the boundar…
Review of the energy and economic parameters involved in the effectiveness of grid-connected PV systems installed in multi-storey buildings
2014
Abstract The assessment of PV energy in an urban context is extremely complex because many factors have to be considered. Moreover, when the purpose is calculating the realistic amount of the electricity demand of a city that can be covered by the photovoltaic generation, it is necessary to estimate the number of photovoltaic systems whose installation is economically advantageous. Such a topic requires an economic analysis, which is affected by the number of energy and economic parameters involved and the values assigned to them to perform calculations. Some parameters are perfectly known and unvarying, like the paid incentives. Adversely, some parameters, like the efficiency degradation o…
A comprehensive tool for efficient design and operation of polygeneration-based energy μgrids serving a cluster of buildings. Part I: Description of …
2013
Polygeneration systems with thermal energy storage represent promising solutions to achieve energy saving and emissions reduction in the civil sector. The definition of customer-oriented design and operation strategies represents a most challenging task, in order to maximize the profitability and make the investment attractive. A large potential is often recognized for the installation of centralized plants serving a cluster of buildings located over a small area; in such cases the design problem becomes extremely complex and the analyst needs reliable instruments to identify the optimal solution. This paper in two parts presents a scientific tool for the optimization of design and operatio…
Post Feed-in Scheme Photovoltaic System Feasibility Evaluation in Italy: Sicilian Case Studies
2014
: Thanks to national energy policies, over recent years the Italian photovoltaic (PV) sector has undergone an extraordinary growth, also affecting the primary sector. In this context, Mediterranean greenhouses are well-adapted to photovoltaic systems because they represent one of the most energy-intensive sectors in agriculture. The Italian feed-in scheme ended at the beginning of 2013, making it necessary to investigate the feasibility of photovoltaic systems devoid of any electricity production-related incentives. In this paper, production cost and profitability analyses of photovoltaic electricity have been conducted, considering Mediterranean solar greenhouses in which, thanks to net me…
Keys to success in investment rounds by immigrant entrepreneurs in Silicon Valley
2019
[EN] This study presents an updated diagnosis of the SV ecosystem itself and offers an insight into the entrepreneurial mobility trends prospects and expectations of the growing number of start-ups launched by immigrant entrepreneurs arriving in SV. The purpose is to determine and rank the attributes most valued by investors when assessing projects and start-ups founded by immigrant entrepreneurs. The model of analysis composed by three hypotheses leads to a series of findings about the profile and expectations of the immigrant entrepreneurs, and reveals remarkable hints and key targets to be met by immigrant entrepreneurs in SV in order to successfully close investment rounds in a hypercom…
Small family business performance: comparison between family and non-family enterprises
2010
This study compares small family business performance between the Finnish family and non-family enterprises. The sample (2,004 firms) was derived to represent nationally small businesses, in collaboration with the Statistics Finland (Centre) in Helsinki. The answer rate of the study was 90% (data collected by mail questionnaires and telephone interviews). The method of the study was to compare family and non-family enterprises with ROA (return on assets) on an enterprise population level (Finland). The results of the study show that most of the small family businesses are controlled by the founder generation. Founder generation performance was slightly higher than among descendant generatio…