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A Monte Carlo Comparison between the Free Cash Flow and Discounted Cash Flow Approaches
Akalu, Mehari Mekonnen; Turner, Rodney - 2002
One of the debates in the capital budgeting model selection is between the free cash flow and DCF methods. In this paper an attempt is made to compare SVA against NPV model based on Monte Carlo simulations. Accordingly, NPV is found less sensitive to value driver variations and has got higher...
Persistent link: https://www.econbiz.de/10010324971
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Evaluating the Capacity of Standard Investment Appraisal Methods
Akalu, Mehari Mekonnen - 2002
The survey findings indicate the existence of gap between theory and practice of capital budgeting. Standard appraisal methods have shown a wider project value discrepancy, which is beyond and above the contingency limit. In addition, the research has found the growing trend in the use of value...
Persistent link: https://www.econbiz.de/10010325018
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Wertanalyse nach DIN EN 12973 als Instrument des produktorientierten Kostenmanagements
Friedl, Birgit - 2007
Persistent link: https://www.econbiz.de/10011558834
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Value Based Management auf Basis von ERIC
Velthuis, Louis John - 2004
Earnings less riskfree Interest Charge (ERIC) is a new residual income concept for Value Based Management (VBM), which takes the true risk and time preferences of shareholders into account. In this paper management based on ERIC is discussed from a theoretical and from a more practical point of...
Persistent link: https://www.econbiz.de/10010265095
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Bank mergers, competition and liquidity
Carletti, Elena; Hartmann, Philipp; Spagnolo, Giancarlo - 2003
Persistent link: https://www.econbiz.de/10011604338
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Hedging with Credit Derivatives and its Strategic Role in Banking Competition
Pausch, Thilo; Schweimayer, Gerhard - 2004
The tremendous growth of markets for credit derivatives since the mid 1990's has raised questions regarding the role of these instruments in the banking in- dustry which is heavily exposed to credit risk. However, while recent literature mainly focused on pricing and optimal decisions regarding...
Persistent link: https://www.econbiz.de/10010263017
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The German banking system and the global financial crisis: Causes, developments and policy responses
Bleuel, Hans-H. - 2009
Germany's banking sector has been severely hit by the global financial crisis. In a German context as of February, 2009, this paper reviews briefly the structure of the banking industry, quantifies effects of the crisis on banks and surveys responses of economic policy. It is argued that policy...
Persistent link: https://www.econbiz.de/10010266115
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Will video kill the radio star? Digitalisation and the future of banking
Beck, Thorsten; Cecchetti, Stephen G.; Grothe, Magdalena; … - 2022
The contribution of financial and non-financial risks to the overall level of risk in the system depends on the current state of the EU banking system (which, in the aggregate and compared with banking sectors in other major advanced economies, cannot be characterised as strong) and how...
Persistent link: https://www.econbiz.de/10014327923
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Banking in Africa: financing transformation amid uncertainty
2020
In its fifth edition, this report focuses on recent developments in Africa's banking sectors and the policy options for all stakeholders. The study of banking sectors across all African sub-regions includes the results of the EIB survey of banking groups operating in Africa. Three thematic...
Persistent link: https://www.econbiz.de/10012511365
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Regulation, credit risk transfer, and bank lending
Pausch, Thilo; Welzel, Peter - 2011
behavior and risk sensitivity of a risk-neutral bank. The bank is exposed to credit risk and may use credit default swaps (CDS …) for hedging purposes. Regulation is found to induce the risk-neutral bank to behave in a more risk-sensitive way: Compared …. Under the Substitution Approach in Basel II (and III) a risk-neutral bank will over-, fully or under-hedge its total …
Persistent link: https://www.econbiz.de/10010291748