This paper studies the valuation of companies going public and defines a methodology to infer the growth expectations implicit in their IPO prices. The proposed reverse-engineered DCF model is operable by individual investors, as it does not require access to private information or sell-side...

This paper is meant to provide an insight into the roles and characteristics of the different typologies of airports by detailing a functional framework of European airports through the analysis of their distinctive features and interconnecting network. The first part of the work will focus on...

The impressive growth of low cost carriers has been mainly exploited through low fares. One may ask whether after having obtained significant market shares, dominant low cost carriers are heading to a new pricing policy. This paper analyzes whether the pricing adopted by Ryanair changes over...

In the last years companies have paid growing attention towards the management of their supply chain at a global level. Considering the upstream part of the supply chain, the need for better suppliers, the research of specific competences and the international competition have forced companies...

Spare parts management is a rather complex issue. One of the reasons of its complexity is the lumpy pattern of the demand that spare parts frequently present. Several methods have been proposed to cope with this particular kind of problem and improvements have been proved compared to classical...

This paper discusses the use of rights issues when interest conflicts between controlling shareholders and minorities arise due to the existence of private benefits that the former can extract from the value of a listed company. While the literature considers the issue of pre-emptive rights as...

The main of this paper is to determine the factors which triggered the 1998 credit crises in Russia and Ukraine. We use two alternative regression analyses. With a simple OLS model we investigate which factors describe the development of the ratio Domestic Credit/GDP, while in a Logit model we...

This paper investigates the connectivity of the European air transportation network. A timedependent minimum path approach is employed to calculate the minimum travel time between each pair of airports in the network, inclusive of flight times and waiting times. The connectivity offered by each...

A wider RJV extension hastens process innovations at the cost of increasing collusion in the .nal market. In a Cournot model, an extended RJV is welfare enhancing only when the Antitrust Authority is strong, so that the increase in distortion is limited, and when the size of the technical...

In this paper, we propose an estimation and testing framework for parameter instability in cointe- grated panel regressions with common and idiosyncratic trends. We develop tests for structural change for the slope parameters under the null hypothesis of no structural break against the...