学科服务 更多>>

关键词： Macroeconomic conditions   Capital structure   Manufacturing firms   Sri Lanka  

摘要： With the rapid development of the modern market economies, to safeguard the comprehensive competitiveness, companies adjust their capital structure based on the external and internal environments. Thus, in the selection of companies" financing policies, especially the debt decisions, the macroeconomic conditions will be very critical. Hence, the purpose of this study is to examine the effects of macroeconomic conditions on capital structure decisions of manufacturing firms listed in Colombo Stock Exchange. A panel data covering a period of 10 years from 2004 to 2013 for 27 listed manufacturing firms in Colombo Stock Exchange used while fixed and random effects models were used to analyze the data. The empirical results demonstrate that in overall macroeconomic conditions have significant effects in determining the capital structure decisions of the manufacturing firms listed in Sri Lanka. The banking sector development is found to be significant in determining the capital structure decisions of Sri Lankan manufacturing firms while results further depict that the development of the stock market is insignificant in the capital structure choice of the Sri Lankan manufacturing companies. Moreover, GDP growth rate and inflation are found to be insignificant in determining the capital structure choice of the Sri Lankan manufacturing firms.

关键词： Intellectual Capital   Residual Income  

摘要： The main purpose of this study was to investigate the relationship between residual incomes with the market val- ue of companies listed in the Tehran Stock Exchange with emphasis on the role of intellectual capital. In this re- gard the relationship between the stock market values of the remaining interest is examined. The impact of intel- lectual capital to assess the relationship. In this aspect of the intellectual capital is used (including customer capi- tal, process capital, human capital, innovation capital) introduced by Edvinson and Malone (1997). The infor- mation of 36 companies listed in Tehran Stock Exchange during the years 2007 to 2011 were studied. Hypotheses was examined using multivariable linear regression and Wong *** test results indicate a significant correlation between the residual income and the value of the stock market. Also second hypothesis test results show that the introduction of various aspects of intellectual capital model, increases the ability of the model to explain changes in the market value. Among the components of intellectual capital, customer capital components, capital, innovation and human capital have significant positive correlation with the stock market, but there was no significant relationship between the stock market value and investment process.

关键词： Monte Carlo Simulation   Future Value   Portfolio Analysis   Sector-wise Investment   Investment Decisions   Random Outcomes   Risk Analysis  

摘要： In this paper the Monte Carlo simulation has been used for portfolio analysis to assess probable future value of an investment in equity portfolios. Three different equity portfolios for sector-wise investment have been considered in this paper, portfolio from Information Technology (IT) industry consisting of equity from Infosys Ltd, Wipro Ltd, MphasiS Ltd, HCL Technologies Ltd and Cyient Ltd; portfolio from Fast Moving Consumer Goods (FMCG) industry consisting of equity from Hindustan Unilever Ltd, Procter &Gamble Hygiene and Healthcare (P&G) Ltd, Marico Ltd, Nestle India Ltd and Indian Tobacco Company (ITC) Ltd and the Last portfolio from automobile sector consistingof equity from Maruti Suzuki India Ltd, Hero MotoCorp Ltd, Bajaj Auto India Ltd, Mahindra and Mahindra Ltd and Tata Motors Ltd. The main assumption is that the investor has a limited funding and average risk taking ability and is interested in investing in only one sector or industry. This simulation is undertaken for risk analysis of random outcomes of various returns to make investment decisions.

关键词： Bone   delayed metastasis   low-grade endometrial stromal sarcoma   metastatic endometrial stromal sarcoma   spine   MANAGEMENT  

摘要： Despite excellent prognosis, low-grade endometrial stromal sarcoma (ESS) is notorious for late recurrence even in stage I disease. Bone metastases are distinctly rare and only six cases have so far been reported. Two patients presented with back pain due to spinal metastatic low-grade ESS after 15 and 9years free of disease after resection of the stage 1 primary uterine tumor. Plain radiograph showed an ivory first lumbar vertebra in the first patient and an osteolytic lesion involving the second thoracic vertebra in the second. In both cases, magnetic resonance imaging showed vertebral tumor with intra-spinal extension and spinal cord compression; biopsy confirmed the diagnosis of metastatic low-grade ESS. The first patient received palliative radiotherapy and chemotherapy while the second underwent surgical decompression followed by adjuvant radiotherapy and chemotherapy. The neurologic symptoms in both patients returned 12months afterwards and progressed relentlessly despite adjuvant chemotherapy and radiotherapy. The first patient developed multiple bone and lung metastasis, culminating in death 44months after recurrence. While surviving at 24months from recurrent disease, the second became paraplegic with double incontinence and was wheelchair bound. Delayed osseous metastatic low-grade ESS, although uncommon, deserves recognition given the predilection for spine as the site of involvement. In such a location, where complete surgical removal is notoriously difficult, if not impossible, the prognosis of spinal metastatic low-grade ESS appears grave with considerable morbidity and mortality.

关键词： Fuzzy Logic   Intrinsic Value   Stock Valuation  

摘要： Due to high fluctuations in the stock market, it is difficult to predict the future movement of stock prices. Many researchers have developed technical tools to predict future price based on past patterns. However, every stock has an Intrinsic value that do not depend on market price. The approach works through phases as Data Collection, Feature Processing and Learning. The stock value is produced by Dividend Discount Model. The quality and quantity factors of stocks are mapped through fuzzy logic. Different formulas based on fundamental strategies of stock valuation gives different resulting values, which imply different degrees of inference. General fuzzy IF-THEN rules are applied. The result of approach provides a guideline about actual value of stock. System gives emphasis on value rather than price which help Investors to take decision.

关键词： Carbon quantification   Carbon allocation   Carbon variability   Remotely sensed models   Structural components   Tree age   PEARL RIVER DELTA   BIOMASS ESTIMATION   NATIONAL FOREST   EUCALYPTUS   STORAGE   GRADIENT   LIDAR   SCALE   AREA   REDD  

摘要： Quantifying the variability and allocation patterns of aboveground carbon stocks across plantation forests is central in deriving accurate and reliable knowledge and understanding of the extent to which these species contribute to the global carbon cycle and towards minimizing climate change effects. The principal objective of this study was to quantify the variability and allocation patterns of aboveground carbon stocks across Pinus and Eucalyptus plantation forests, tree-structural attributes (i.e. stems, barks, branches and leaves) and age groups, using models developed based on remotely sensed data. The results of this study demonstrate that aboveground carbon stocks significantly (alpha = 0.05) vary across different plantation forest species types, structural attributes and age. Pinus taeda and Eucalyptus grandis species contained aboveground carbon stocks above 110 t C ha(-1), and Eucalyptus dunii had 20 t C ha(-1). Across plantation forest tree structural attributes, stems contained the highest aboveground carbon stocks, when compared to barks, branches and leaves. Aboveground carbon stock estimates also varied significantly (alpha = 0.05) with stand age. Mature plantation forest species (i.e. between 7 and 20 years) contained the highest aboveground carbon stock estimates of approximately 120 t C ha(-1), when compared to younger species (i.e. between 3 and 6 years), which had approximately 20 t C ha(-1). The map of aboveground carbon stocks showed distinct spatial patterns across the entire study area. The findings of this study are important for understanding the contribution of different plantation forest species, structural attributes and age in the global carbon cycle and possible climate change moderation measures. Also, this study demonstrates that data on vital tree structural attributes, previously difficult to obtain, can now be easily derived from cheap and readily-available satellite data for inventorying carbon stocks variability. (C) 2015 Elsevi

关键词： 调结构   宏观经济环境   国际油价   资源型城市   共性问题   贸易摩擦   低位徘徊   财政收入  

摘要： 东营市作为石油资源型城市、工业大市，今年以来不仅面临宏观经济环境复杂严峻、经济下行压力加大等共性问题，而且遭遇了国际油价持续低迷、对外贸易摩擦加剧等特殊困难，使东营经济“雪上加霜”，形势异常严峻。第一，国际油价低位徘徊，严重影响经济增长和财政收入。

关键词： 管理会计应用   企业自由现金流   现值   战略执行   竞争情报系统   工具研究   标杆管理   战略管理工具   经营结果   预算管理  

摘要： 管理会计是会计的重要分支,主要服务于单位内部管理需要,是通过利用相关信息,有机融合财务与业务活动,在单位规划、决策、控制和评价等方面发挥重要作用的专业管理活动,其终极目标在于提升企业的价值,实现风险和报酬平衡下的企业自由现金流现值最大化。管理会计的工具、方法和技术繁多,在实践中百花齐放百家争鸣,本文对管理会计应用体系及其工具进行梳理,以期能推进管理会计的应用和发展。一。

关键词： 货币时间价值   企业税收   财务管理决策  

摘要： 近年来,由于生产物质价格的变化和资本成本的提高,企业的税收负担相应产生了很大的影响,因而进行合理的税收策划显得迫不及待和具有一定的意义。本文通过对资金时间价值与企业税负之间影响的分析,提出了从资金时间价值的角度进行税收筹划的方案和建议。

关键词： 公司财务管理   市场经济体制   浅谈集   资金结算中心   预算管理委员会   财务预算   货币的时间价值   预算目标   业务预算   发展战略  

摘要： 集团公司的出现在我国虽然只有二十多年的时间,但其发展速度日益加快,已经成为推动我国国民经济发展的重要力量。但是,也有部分曾经赫赫有名的集团公司已是烟消云散,其中重要的一条原因就是公司的膨胀过于迅猛,企业管理尤其是财务管理不善,从而导致这些公司发生财务危机,最终走向衰亡。随着市场经济体制的完善和发展,我国企业通过重组、联合、并购等资本运作形式组建企业集团的行为不断增多。