The paper presents the modelling techniques used on international practice for establishing life premiums quota. Thus, the calculus techniques used by the insurers are generally based on a series of indicators named mortality indicators which mainly point out the insured persons’ survival...

One of the notable characteristics of modern financial markets is the convergence among financial institutions, which until recently preformed different tasks. To this end, the present study explores the bank-insurance phenomenon in the Greek market. It focuses on the development of financial...

Using real, Spanish data, different specifications of zero-inflated models are provided in this paper to estimate the number of accidents declared by policyholders. These count data models seem to be the most appropriate solutions to study this question. Our work is completed with the...

The principal goal of this paper is to review recent studies on small and medium sized companies in order to concentrate on the main critical issues of SMEs financial management. There are three core elements of financial management: (1) the question of liquidity management and cash flow...

Successful regional integration in global competitive networks depends more than ever before on regional capacities for technological absorption and diffusion. Regional development inequalities are the outcome of different levels of technological adjustment and innovativeness in the regional...

By considering different systems of legal protection this study examines the impact of capital structure on the performance of listed firms in European region. Based on 5050 listed firms in eight European countries, the results of the study reveal that the owners in low level of legal protection...

The correct way of valuing seasonal companies by cash flow discounting is to use monthly data. We may use annual data, but it requires some adjustments. We show that when using annual data in the context of the adjusted present value (APV), the value of the unlevered equity (Vu) and the value of...

The consumption tax affects the consumer, but also affects the wealth of the producer because of the tax incidence effect. It affects cash flows from corporate investment, bears influence on capital budgeting choices on investment timing and financing and the respective agency conflicts between...

In this paper, we review twelve valuations of Terra performed by Spanish and non-Spanish bank analysts and brokers. Of the twelve valuations, only one used cash flow discounting. Another valuation was based on multiples, but also used cash flow discounting to perform a reverse valuation. All...

The principal goal of this paper is to review recent studies on small and medium sized companies in order to concentrate on the main critical issues of SMEs financial management. There are three core elements of financial management: (1) the question of liquidity management and cash flow...