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Akalu, Mehari Mekonnen - 2002

Analysis of the strength of value drivers is crucial to understand their influence in the process of free cash flow generation. The paper addresses the issue of value driver measurement and ranking. The research reveals that, value drivers have similar pattern across industries. Furthermore, it...

Persistent link: https://www.econbiz.de/10011326967

The valuation and hedging of variable rate savings account

Jong, Frank de; Wielhouwer, Jacco L. - 2001

Variable rate savings accounts have two main features. The client rate is variable and deposits can be invested and withdrawn at any time. However, customer behaviour is not fully rational and actions are often performed with a delay. This paper focusses on measuring the interest rate risk of...

Persistent link: https://www.econbiz.de/10011318571

The (self-)funding of intangibles

Döttling, Robin; Ladika, Tomislav; Perotti, Enrico C. - 2016

In response to technological change, U.S. corporations have been investing more in intangible capital. This transformation is empirically associated with lower leverage and greater cash holdings, and commonly explained as a precautionary response to reduced debt capacity. We model how firms'...

Persistent link: https://www.econbiz.de/10011556238

Evaluating the capacity of standard investment appraisal methods : evidence from the practice

Akalu, Mehari Mekonnen - 2002

Persistent link: https://www.econbiz.de/10001699706

A Monte Carlo comparison between the free cash flow and discounted cash flow approaches

Akalu, Mehari Mekonnen; Turner, Rodney - 2002

Persistent link: https://www.econbiz.de/10001699714

Non-marginal cost-benefit analysis and the tyranny of discounting

Vermeylen, Koen - 2013

, effectively defeating the tyranny of discounting. A back-of-the-envelope calibration suggests that this last result is realistic …

Persistent link: https://www.econbiz.de/10010227375

HIV/AIDS, risk aversion and intertemporal choice

Lammers, Judith; Wijnbergen, Sweder van - 2008 - Rev.

This study analyses the relation between perceived health status and intertemporal choice. We use data from experiments with real monetary rewards conduEted among students in South Africa to estimate risk and time preferences. These experimental data, based on muitiple price lists developed by...

Persistent link: https://www.econbiz.de/10011373818

Eliciting discount functions when baseline consumption changes over time

Gerber, Anke; Rohde, Kirsten I. M. - 2014

preference reversals arecommonly interpreted as contradicting constant discounting. This interpretation is correctonly if … baseline consumption to which the outcomes are added, remains constant over time.The difficulty with measuring discounting when … discounted. In this paper we propose a way to disentangle thetwo effects, which allows us to draw conclusions about discounting …

Persistent link: https://www.econbiz.de/10011379439

Be patient when measuring Hyperbolic Discounting : stationarity, time consistency and time invariance in a field experiment

Janssens, Wendy; Kramer, Berber; Swart, Lisette - 2015

Most evidence of hyperbolic discounting is based on violations of either stationarity or time consistency as observed … discounting is a plausible explanation for choice reversals only if violations of stationarity and time consistency overlap. Our … conclude that when incomes fluctuate, one can only identify hyperbolic discounting by eliciting violations of both stationarity …

Persistent link: https://www.econbiz.de/10011307819

Generalized reduced rank tests using the singular value decomposition

Kleibergen, Frank; Paap, Richard - 2003

statistic of Robin and Smith [Econometric Theory (2000), 16, 151–175] usage of numerical optimization for the objective function … singular values in Ratsimalahelo [2002, Rank test based on matrix perturbation theory. Unpublished working paper, U …

Persistent link: https://www.econbiz.de/10011332818

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