In this paper, we analyze momentum strategies that are based on reward-risk stock selection criteria in contrast to ordinary momentum strategies based on a cumulative return criterion. Reward-risk stock selection criteria include the standard Sharpe ratio with variance as a risk measure, and alternative reward-risk ratios with the expected shortfall as a risk measure. We investigate momentum st...

During the operation, a tremendous amount of heat is generated in the coal based sponge iron plant and a significant part of this heat associated with the waste gas, remains unutilized. While utilizing this heat in the process the energy demand of the process may be reduced, which decreases the coal consumption, which is the only source of energy for this plant. To utilize the heat associated w...

This paper analyzes the effects of mergers around the world over the past 15 years. We utilize a large panel of data on mergers to test several hypotheses about mergers. The effects of the mergers are examined by comparing the performance of the merging firms with control groups of nonmerging firms. The comparisons are made on profitability and sales. The results show that mergers on average do...

AIM To perform SWOT (strengths, weaknesses, opportunities, and threats) analysis of a clinical laboratory as an economic model that may be used to improve business performance of laboratories by removing weaknesses, minimizing threats, and using external opportunities and internal strengths. METHODS Impact of possible threats to and weaknesses of the Clinical Laboratory at Našice General Coun...

Background The engagement of private practitioners in the public-private mix of tuberculosis (TB) management started in 2007 in Lagos State Nigeria. This study compared the treatment outcomes of patients managed at private for profit (PFP) and private not for profit (PNFP) directly observed treatment short course (DOTS) facilities. Methods A retrospective review of treatment cards of TB patie...

Recent empirical research in banking has found substantial but unexplained differences among bank’s costs and profits, indicating that the industry is not in long-run equilibrium. In this paper, three factors are hypothesized as the source of this out-of-equilibrium behavior: (i) variations in banks’ abilities to match capacity and demand; (ii) variations in risk management; and (iii) variation...

In 2013, around 121 billion US-Dollar have been spend worldwide to promote the investment into renewable energy sources. The most prominent support scheme employed is a feed-in tariff, which guarantees a fixed price for electricity produced by renewable energies sources, usually for around 15 years after the installation of the plant. We study the incidence of wind turbine subsidies due to a fe...

In this paper, we provide further insight into the stock return momentum phenomena by investigating the sources of momentum profits. Applying statistical factor analysis, we identify the most important variables significantly affecting momentum profits: volatility and changes in the currency component of M1. We also document the periodic dynamics of momentum returns that is their inflation at q...

The total surplus-value, as well as the total profit, which is only the surplus value itself, computed differently, can neither grow nor decrease through this operation [the equalization of profit rates], ever; what is modified thereby is not it, but only its distribution among the different capitals. However, this examination belongs only with that of the many capitals, it does not yet belong ...

A typical strategy for dealing with commodity surpluses is to store them for future sale; though electricity cannot yet be stored on a large scale, this storage strategy will become a natural choice for dealing with electricity surpluses. However, because electricity prices can be negative, there exists another potential strategy: To buy electricity surpluses at negative prices and dispose of t...