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An empirical investigation of the effects of concentration on profitability among US banks
Fiona, Tregenna - Volkswirtschaftliche Fakultät, … - 2006
This paper analyses the effects of concentration on profitability in the US banking sector from 1994-2005, using bank-level panel data. A new index of concentration is proposed, which reflects the depth and intensity of concentration. The econometric specification facilitates the simultaneous...
Persistent link: https://www.econbiz.de/10005835748
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Full Cost, Profit and Competition
Jael, Paul - Volkswirtschaftliche Fakultät, … - 2014
over marginal theory of imperfect competition. The controversy was closed prematurely; various contributions published … analysis of competition; it is too often neglected in favour of the sole competition on margins. …
Persistent link: https://www.econbiz.de/10011113011
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Complements and Substitutes in Sequential Auctions: The Case of Water Auctions
Donna, Javier; Espin-Sanchez, Jose - Volkswirtschaftliche Fakultät, … - 2014
We use data on sequential water auctions to estimate demand when units are com- plements or substitutes. A sequential English auction model determines the estimating structural equations. When units are complements, one bidder wins all units by paying a high price for the first unit, thus...
Persistent link: https://www.econbiz.de/10011114563
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Market Structure and Competition in Emerging Market: Evidence from Malaysian Islamic Banking Industry
Majid, Abdul; Zulkhibri, Muhamed; Sufian, Fadzlan - Volkswirtschaftliche Fakultät, … - 2007
degree of competition using the H-statistic by Panzar and Rosse (1987). The estimated H-statistics for the whole sample … periods are positive ranging from 0.38 to 0.62 and the Wald test for the market structure of monopoly or perfect competition … is rejected implying that the Islamic banks in Malaysia earned their revenue in the condition of monopolistic competition. …
Persistent link: https://www.econbiz.de/10005623258
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Horizontal and Vertical Firm Networks, Corporate Performance and Product Market Competition
Bischoff, Oliver - 2015
market competition. In markets with effective competition, horizontal multiple directorships turn out to be an efficient … firms have no significant influence on financial performance, irrespective of the level of competition intensity …
Persistent link: https://www.econbiz.de/10013024843
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The King Reports, Independent Non-Executive Directors and Firm Valuation on the Johannesburg Stock Exchange
Ntim, Collins G. - Volkswirtschaftliche Fakultät, … - 2011
South Africa (SA) has pursued corporate governance reforms in the form of the 1994 and 2002 King Reports. This paper examines the association between the presence of independent non-executive directors (INEDs) and market valuation of a sample of 169 firms listed on the Johannesburg Stock...
Persistent link: https://www.econbiz.de/10011260623
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The use of fuzzy logic and expert systems for rating and pricing firms: a new perspective on valuation.
Malagoli, Stefano; Mastroleo, Giovanni; Magni, Carlo Alberto - Volkswirtschaftliche Fakultät, … - 2005
This paper presents an expert system aimed at evaluating firms and business units. It makes use of fuzzy logic and integrates financial, strategic, managerial aspects, processing both quantitative and qualitative information. Twenty-nine value drivers are explicitly taken into account and...
Persistent link: https://www.econbiz.de/10005260300
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Valoración de flujos de caja en inflación. El caso de la regulación en el Banco Mundial
Vélez-Pareja, Ignacio - Volkswirtschaftliche Fakultät, … - 2005
We show that project evaluation should be based on free cash flows at nominal prices. We present a case where the results from the constant price method are biased upwards and there is a risk to accept bad projects. It is a widespread practice to evaluate projects at constant prices. With an...
Persistent link: https://www.econbiz.de/10005836393
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Potential dividends versus actual cash flows in firm valuation
Magni, Carlo Alberto; Vélez-Pareja, Ignacio - Volkswirtschaftliche Fakultät, … - 2009
Practitioners and some academics use potential dividends rather than actual payments to shareholders for valuing a firm’s equity. We underline the differences between the two methods and present some arguments supporting the thesis that firm valuation with potential dividends overstate the...
Persistent link: https://www.econbiz.de/10005837338
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A Sum&Discount method for appraising firms:An illustrative example
Magni, Carlo Alberto - Volkswirtschaftliche Fakultät, … - 2007
This paper presents a new way of valuing firms and measuring residual income. The method, originally introduced in Magni (2000a, 2000b, 2000c, 2001), is here renamed lost-capital paradigm. In order to enhance comprehension the presentation relies on a very simple numerical example which shows...
Persistent link: https://www.econbiz.de/10005619880