Search results for "value"

How Performant Are the Premium Companies Listed on BSE? A Financial Performance Analysis from a Value Creation Perspective

2018

In order to analyze the potential of listed companies, the scientific literature suggests modern indicators that are built using value creation concepts. The attention of specialists, both theoreticians and practitioners, is directed towards the approach of company’s performance based on the created value. Traditional management based on analyzing and interpreting accounting data from financial statements has proved a reduced capacity to evaluate and express in a clear and precise manner the real performances of companies. Over time, the financial ratios used to quantify the value created by companies as expression of their performance were in multiple forms, becoming more and more comprehe…

Reaccionan Completamente los Precios ante un Anuncio de Adquisiciin? Evidencia en el Mercado de Control de Empresas Espaaol (Do Prices Fully React to…

2013

This note examines whether prices fully reflect value creation or destruction at the time of the acquisition announcement when samples are split into listed and unlisted target firms as previous international results are ambiguous about this subject. We find that the Spanish market fully react to the acquisition announcement (showing value creation only for unlisted target firms acquisitions), except for the smallest bidders of public targets since we find significant positive abnormal returns for a 24-month post-acquisition window when event portfolio returns are computed equally-weighted but insignificant abnormal returns when value-weighted returns are computed. This evidence is consiste…

BUSINESS VALUE CREATED BY MANAGEMENT ACCOUNTING

2018

Porter stated in his value chain concept that business support activities are contributing to the value creation process of a business organization. In the “classical view” business support activities are considered as indirect productive and not having a clear and direct contribution to the business organization value chain. The information age has enabled and leveraged business support activities to become decisive contributors to the value creation process of any business. Can this value contribution be somehow determined or quantified? Management accounting is a classical business support activity that contributes to the business organization value chain. Through usage of value manageme…

Co‐parenting through subsidiaries: A model of value creation in the multinational firm

2017

Research summary We analyze a novel way to configure and manage multinational networks and propose a model of "co-parenting", characterized by the sharing of parenting roles and distribution of responsibilities between two units. We develop our argument around the notion of the springboard subsidiary, an operating subsidiary which assumes headquarters’ functions since it shares greater institutional closeness with both the headquarters’ country as well as with the host region. Based upon qualitative data, our inductive model revolves around three stages: establishment, consolidation and maturity, each of which reflects distinct roles and loci of decision making among the three actors involv…

Online value creation in small service businesses: the importance of experience valence and personal values

2012

Perceived value is of great interest in current marketing research. However, in the area of Internet as a shopping channel of small businesses, there has been little analysis of customer perceived value and its determinants. This paper examines two little analysed aspects of value creation, experience valence and personal values. The analysis of data from a survey of tourism service purchase shows that experience valence, in terms of relevant information, ease of use and customer service, clearly influences perceived value after the online shopping experience. In contrast, only personal values of sense of security and sense of accomplishment influence perceived value.

Experiential Approach to the Value of Cultural Consumption - The Case of Museums and Monuments

2005

Philosophy and science: the axes of evil in disability studies?

2007

In this review, I concentrate on analysing the response Tom Shakespeare’s Disability rights and wrongs has awoken in the disability studies community. I argue that the complicated relationship between politics and science is the underlying cause for many controversies in disability studies. The research field should regain its autonomy and scrutinise properly its ontological premises. The field of disability studies in the UK is in turmoil. During the past 10 years or so, there have been several debates that have revolved around the social model of disability. The latest source of a heated debate is Tom Shakespeare’s Disability rights and wrongs . Many of us working outside the UK have foll…

Piero Sraffa's lectures on the advanced theory of value 1928–31 and the rediscovery of the classical approach

2005

Abstract Sraffa's Lectures on the Advanced Theory of Value 1928–1931 and his two preparatory Notes of summer and November 1927 provide a wealth of material, up to now unpublished, for a reconstruction of the early stage of his inquiry into the cognate fields of pure economic theory and its history. The three manuscripts show that in the late 1920s Sraffa rejected the Marshallian constant-cost interpretation of classical economics, an interpretation to which he had adhered in his 1925 and 1926 papers. Moreover, in the Lectures, Sraffa presents for the first time his own interpretation of classical economics based on the concepts of surplus, physical real costs and asymmetric treatment of dis…

AN EMPIRICAL VIEW ON VALUE THEORY AND VALUE-BASED MANAGEMENT

2016

The main economic purpose of a business organization is to create value for its owner. The value concept is a complex notion that has developed alongside human history and reflects the concerns of human society through time. As a result of the value theory, the management of value has also emerged as an essential and accompanying activity. Value-based management emerged as a management philosophy rather than a management method. It consists of a change in mindset from managing resources or output quantities to value creation. The challenge is to identify or create the value flows and act upon these within the specific business organization to have proper value management. Value creation and…

Ethics of Beliefs

2017

This paper deals with the concept of positive learning (PL). The main goal is to provide a working definition of PL on which further refinements and extensions can be based. First, I formulate a list of desiderata for a definition of PL: I argue that a working definition of PL should (i) make the involved epistemic norms explicit, (ii) be flexible, and (iii) be empirically tractable. After that, I argue that a working definition of PL should focus on three basic epistemic norms (which I call Evidentialism, Degrees of Plausibility, and Non-Arbitrary Updates). Drawing on work on the ethics of belief and Bayesian inference, I highlight theoretical and empirical challenges that already follow f…