The combination of experts' probability distributions involved in a due diligence is valuable for encapsulating the accumulated information for decision makers and providing the current state of expert opinion regarding important uncertainties. Therefore, this paper shows how to create and...

Valuation always has to deal with uncertainty. The paper provides an overview and illustration of how Monte Carlo simulation can enrich the due diligence process. Therefore ; the four major software offerings on the market today are reviewed. The investigation addresses different characteristics...

Based on a review of international and regional responses to the global financial and economic crisis and its implications for finance in Asia, Douglas Arner and Lotte Schou-Zibell draw lessons for Asian financial systems with regard to the scope of regulation; financial standards; supervision,...

The writing of this article predates by several months the failure of Silicon Valley Bank and the takeover of Credit Suisse which occurred in March 2023. It does not represent the views of the European Central Bank (ECB) and should not be construed as linked to or an advice for the winding down...

The question of whether the CEO should also serve as chairman of the board is one of the most hotly debated issues in the recent corporate governance discussion. While agencytheoretic arguments advocate a separation of decision and control functions, the empirical evidence focusing on U.S....

Non-financial risk factors play a fundamental role in supporting the competitive position of companies in many of today's industries. Though, assessing these ambiguous factors in a valuation based on a Monte-Carlo simulation is particularly difficult. This paper presents how the fuzzy-set theory...

Operational risk management and measurement has been paid an increasing attention in last years. The main two reasons are the Basel II requirements that were to be complied with by all international active financial institutions by the end of 2006 and recent severe operational risk loss events....

Bei der Diskussion um die Finanzierung bzw. Eigenkapitalausstattung mittelständischer Unternehmen rücken gegenwärtig die Möglichkeiten zur Fremdkapitalaufnahme, neue Finanzierungsformen und damit die sich verändernden Rahmenbedingungen bei der Kreditvergabe an kleine und mittlere...

The article presents the Capital Group Grupa Zywiec plc. as an enterprise operating in food industry which has received a Golden Leaf Award for CSR” (Pichola, Rudzki, 2013) and has been ranked among the top ten companies in the aforementioned sector. It is a beer producer, i.e. a good which is...