Download or read book An Examination of the Impact of Free Cash Flow on Profitability of Large Manufacturing Companies Quoted on the Nairobi Stock Exchange NSE MBA Thesis written by and published by . This book was released on 2012 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Valuation Approaches and Metrics written by Aswath Damodaran and published by Now Publishers Inc. This book was released on 2005 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: Valuation lies at the heart of much of what we do in finance, whether it is the study of market efficiency and questions about corporate governance or the comparison of different investment decision rules in capital budgeting. In this paper, we consider the theory and evidence on valuation approaches. We begin by surveying the literature on discounted cash flow valuation models, ranging from the first mentions of the dividend discount model to value stocks to the use of excess return models in more recent years. In the second part of the paper, we examine relative valuation models and, in particular, the use of multiples and comparables in valuation and evaluate whether relative valuation models yield more or less precise estimates of value than discounted cash flow models. In the final part of the paper, we set the stage for further research in valuation by noting the estimation challenges we face as companies globalize and become exposed to risk in multiple countries.
Download or read book Performance of Manufacturing Firms in Africa written by Hinh T. Dinh and published by World Bank Publications. This book was released on 2012-08-21 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents empirical analyses of manufacturing firm performance in Africa based on the World Bank Enterprise Survey and on a one-time quantitative survey conducted for the World Bank by the Center for the Study of African Economies of Oxford University.
Download or read book Financial Management from an Emerging Market Perspective written by Soner Gokten and published by BoD – Books on Demand. This book was released on 2018-01-17 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the main reasons to name this book as Financial Management from an Emerging Market Perspective is to show the main differences of financial theory and practice in emerging markets other than the developed ones. Our many years of learning, teaching, and consulting experience have taught us that the theory of finance differs in developed and emerging markets. It is a well-known fact that emerging markets do not always share the same financial management problems with the developed ones. This book intends to show these differences, which could be traced to several characteristics unique to emerging markets, and these unique characteristics could generate a different view of finance theory in a different manner. As a consequence, different financial decisions, arrangements, institutions, and practices may evolve in emerging markets over time. The purpose of this book is to provide practitioners and academicians with a working knowledge of the different financial management applications and their use in an emerging market setting. Six main topics regarding the financial management applications in emerging markets are covered, and the context of these topics are "Capital Structure," "Market Efficiency and Market Models," "Merger and Acquisitions and Corporate Governance," "Working Capital Management," "Financial Economics and Digital Currency," and "Real Estate and Health Finance."
Download or read book The Capital Budgeting Decision written by Harold Bierman and published by . This book was released on 1975 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: The problem of capital budgeting; Illustrating the measures of investment worth; Present value versus rate of return; The meaning of present value; Classifying investments; The use of cash flows in evaluating investments; Corporate income taxes and investment decisions; Capital budgeting under capital rationing; An introduction to uncertainty; Introduction to portfolio analysis; The capital asset pricing model; Application of the capital asset pricing model to multiperiod investments; Uncertainty and undiversified investors; Buy or lease; Accounting concepts consistent with present-value calculations; Capital budgeting and inflation; Investment timing; Evaluation private investment proposals: a national economic point of view; Fluctuating rates of output; using investment portfolios to change risk; Models for portfolio analysis; Capital rationing: a programming approach.
Download or read book Economic Convergence and Economic Policies written by Jeffrey Sachs and published by . This book was released on 1995 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many of the crucial debates in development economics are encapsulated in the question of economic convergence. Is there a tendency for the poorer countries to grow more rapidly than the richer countries, and thereby to converge in living standards? Some recent research on endogenous growth has emphasized increasing returns as a possible reason not to expect convergence. Other research has suggested that convergence may be achieved only after poor countries attain a threshold level of income or human capital. This paper presents evidence that a sufficient condition for higher-than-average growth of poorer countries, and therefore convergence, is that poorer countries follow reasonably efficient economic policies, mainly open trade and protection of private property rights.
Download or read book The impact of disasters and crises on agriculture and food security 2021 written by Food and Agriculture Organization of the United Nations and published by Food & Agriculture Org.. This book was released on 2021-03-17 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: On top of a decade of exacerbated disaster loss, exceptional global heat, retreating ice and rising sea levels, humanity and our food security face a range of new and unprecedented hazards, such as megafires, extreme weather events, desert locust swarms of magnitudes previously unseen, and the COVID-19 pandemic. Agriculture underpins the livelihoods of over 2.5 billion people – most of them in low-income developing countries – and remains a key driver of development. At no other point in history has agriculture been faced with such an array of familiar and unfamiliar risks, interacting in a hyperconnected world and a precipitously changing landscape. And agriculture continues to absorb a disproportionate share of the damage and loss wrought by disasters. Their growing frequency and intensity, along with the systemic nature of risk, are upending people’s lives, devastating livelihoods, and jeopardizing our entire food system. This report makes a powerful case for investing in resilience and disaster risk reduction – especially data gathering and analysis for evidence informed action – to ensure agriculture’s crucial role in achieving the future we want.
Download or read book Corporate Payout Policy written by Harry DeAngelo and published by Now Publishers Inc. This book was released on 2009 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Payout Policy synthesizes the academic research on payout policy and explains "how much, when, and how". That is (i) the overall value of payouts over the life of the enterprise, (ii) the time profile of a firm's payouts across periods, and (iii) the form of those payouts. The authors conclude that today's theory does a good job of explaining the general features of corporate payout policies, but some important gaps remain. So while our emphasis is to clarify "what we know" about payout policy, the authors also identify a number of interesting unresolved questions for future research. Corporate Payout Policy discusses potential influences on corporate payout policy including managerial use of payouts to signal future earnings to outside investors, individuals' behavioral biases that lead to sentiment-based demands for distributions, the desire of large block stockholders to maintain corporate control, and personal tax incentives to defer payouts. The authors highlight four important "carry-away" points: the literature's focus on whether repurchases will (or should) drive out dividends is misplaced because it implicitly assumes that a single payout vehicle is optimal; extant empirical evidence is strongly incompatible with the notion that the primary purpose of dividends is to signal managers' views of future earnings to outside investors; over-confidence on the part of managers is potentially a first-order determinant of payout policy because it induces them to over-retain resources to invest in dubious projects and so behavioral biases may, in fact, turn out to be more important than agency costs in explaining why investors pressure firms to accelerate payouts; the influence of controlling stockholders on payout policy --- particularly in non-U.S. firms, where controlling stockholders are common --- is a promising area for future research. Corporate Payout Policy is required reading for both researchers and practitioners interested in understanding this central topic in corporate finance and governance.
Download or read book African Capital Markets Challenges and Opportunities written by Heidi Raubenheimer and published by CFA Institute Research Foundation. This book was released on 2019-11-21 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: Africa encompasses a wide range of market conditions, from rapidly emerging economies to countries with a long history with financial markets. Produced in partnership with the African Securities Exchanges Association, this collection of essays includes the perspectives of authors in local markets who provide their analysis of the history, current developments, and future outlook for South Africa, Nigeria, Mauritius, Ghana, Zimbabwe, Morocco, Egypt, Botswana, and East Africa. For prospective investors, the book provides valuable insights on how changing regulation, evolving financial technology, and expanding investor access are transforming local markets on the continent.
Download or read book Financial Accounting written by Jacqui Kew and published by OUP Southern Africa. This book was released on 2013-01-17 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Accounting: An Introduction 4e does not simply teach the accounting standards; it demonstrates that accounting is about 'how to' as well as 'why to' record and report information in a way that engages directly with Generation Y students.
Download or read book Taxation and Tax Management in Nigeria written by Osita Aguolu and published by . This book was released on 1999 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Statement Analysis and the Prediction of Financial Distress written by William H. Beaver and published by Now Publishers Inc. This book was released on 2011 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Statement Analysis and the Prediction of Financial Distress discusses the evolution of three main streams within the financial distress prediction literature: the set of dependent and explanatory variables used, the statistical methods of estimation, and the modeling of financial distress. Section 1 discusses concepts of financial distress. Section 2 discusses theories regarding the use of financial ratios as predictors of financial distress. Section 3 contains a brief review of the literature. Section 4 discusses the use of market price-based models of financial distress. Section 5 develops the statistical methods for empirical estimation of the probability of financial distress. Section 6 discusses the major empirical findings with respect to prediction of financial distress. Section 7 briefly summarizes some of the more relevant literature with respect to bond ratings. Section 8 presents some suggestions for future research and Section 9 presents concluding remarks.
Download or read book Corporate Strategic Analysis written by Marcus C. Bogue and published by . This book was released on 1986 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examine recent corporate successes and failures. Analyze market structures comparing fragmented markets-characteristic of new industries such as computer software with consolidated markets such as mani. fold business forms.
Download or read book Artificial Intelligence for Sustainable Finance and Sustainable Technology written by Abdalmuttaleb M. A. Musleh Al-Sartawi and published by Springer Nature. This book was released on 2022-01-01 with total page 637 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book shows latest research on artificial intelligence for sustainable technology. ICGER 2021 was organized by the Accounting, Finance and Banking Department at Ahlia University, Bahrain, and was conducted on the 15th and 16th of September. The strategic partners included the University of Jordan, the Bahrain Economists Society, the Association of Chartered Certified Accountants: ACCA, Al-Barka Banking Group and the International Computer Auditing Education Association: ICAEA . The theme of the ICGER 2021 centered around artificial intelligence for sustainable finance and sustainable technology. Accordingly, the papers presented at the conference provided a holistic view of sustainable finance, sustainability, AI, financial technology, cybersecurity, blockchain, CSR, and governance. This book, unlike ever before, brings together intelligence applications of new technologies and the sustainability requirements in the era of the digital economy, with special attention given to the opportunities, challenges, for education, business growth, and economic progression of nations which will help societies (economists, financial managers, engineers, ICT specialists, digital managers, data managers, policymakers, regulators, researchers, academics, and students) to better understand, use, and control AI applications and financial technologies to develop future strategies and to achieve sustainable development goals.
Download or read book Neem Today and in the New Millennium written by Opender Koul and published by Springer Science & Business Media. This book was released on 2007-05-08 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: The chemicals from plant sources, generally termed as phytochemicals, play an important role in acceptance or rejection of the plant by the pests as they could be distasteful or toxic on one hand or on the other hand specialist herbivores have the capability to feed on many such chemicals, as they are able to process these natural products in a manner that is beneficial to them. In the wake of increasing environmental degradation due to burgeoning synthetic chemicals, there has been a process going on to rediscover the usefulness of plants and herbs and a continued effort for more than 2 decades has been to study the green products for cures for several ailments and pest management. In fact, according to Indian Medicinal Plants: A Sectoral Study, the global trade for medicinal plants amounts to about US $ 60 billion and the world demand continues to grow at the rate of 7 per cent per annum. Although many such plants are known in literature, neem has been one of trees with mani-fold virtues. Indian neem tree, Azadirachta indica A. Juss, which is a large evergreen tree, is an outstanding example among plants that has been subject matter of numerous scientific studies concerning its utilization in medicine, industry and agriculture. So far neem preparations have been evaluated against more than 500 species of insects and more than 400 hundred are reported to be susceptible at different concentrations.
Download or read book Business Environment and Firm Entry written by Leora Klapper and published by World Bank Publications. This book was released on 2004 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Using a comprehensive database of firms in Western and Eastern Europe, we study how the business environment in a country drives the creation of new firms. Our focus is on regulations governing entry. We find entry regulations hamper entry, especially in industries that naturally should have high entry. Also, value added per employee in naturally "high entry" industries grows more slowly in countries with onerous regulations on entry. Interestingly, regulatory entry barriers have no adverse effect on entry in corrupt countries, only in less corrupt ones. Taken together, the evidence suggests bureaucratic entry regulations are neither benign nor welfare improving. However, not all regulations inhibit entry. In particular, regulations that enhance the enforcement of intellectual property rights or those that lead to a better developed financial sector do lead to greater entry in industries that do more R & D or industries that need more external finance"--National Bureau of Economic Research web site.
Download or read book Pipe Dreams written by Robert Bryce and published by PublicAffairs. This book was released on 2004-01-08 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: After the shocking collapse of Enron in fall, 2001 came an equally shocking series of disclosures about how America's seventh-largest company had destroyed itself. There were unethical deals, offshore accounts, and accounting irregularities. There were Wall Street analysts who seemed to have been asleep on the job. There were the lies top executives told so that they could line their own pockets while workers and shareholders lost billions. But after all these disclosures, the question remains: Why? Why did a thriving, innovative company with rock-solid cash flow and reliable earnings suddenly flame out in a maelstrom of corruption, fraud and skulduggery? The answer, Texas business journalist Robert Bryce reveals in this incisive and entertaining book, is that bad business practices begin with human beings. Pipe Dreams traces Enron's astounding transformation from a small regional gas pipeline company into an energy Goliath...and then tracks step-by-step, business decision by business decision, extra-marital affair by extra-marital affair, how, when and why the culture of Enron began to go rotten, and who was responsible. The story of Enron's fall isn't just a story about accounting procedures; it's a story about people. Bryce tells that story with all the personality, passion, humor, and inside dope you'd hope for, and the result is an un-putdownable read in the tradition of Barbarians at the Gate and The Predators' Ball.
