The cash flows of technology-based companies show high degrees of uncertainty. As traditional valuation methods can hardly capture these characteristics, they are insufficient for valuing these kinds of companies. On the contrary, real options theory can quantify the value associated with management flexibility, growth opportunities, and synergies. This chapter assesses the corporate value of a...

Buddhism and Taoism have been deeply rooted in China for generations both of them a profound impact on the local culture social norms. By employing 23,999 firm-year observations between 2008 2018, we examine how religious norms affect corporate cash policies. We provide strong evidence that religiosity significantly reduces level holdings, by mitigating financial constraints earnings management...

Last month, in this magazine, this author argued in Fixing Financial Statements: Financial Statement Overhaul that the traditional formats of the primary financial statements—income statement, balance sheet, and cash flow statement—need major redesign to again be useful for meaningful financial analysis, decision-making and value creation. Since the fundamental objective of a business is to inc...

We reexamine the widely accepted phenomenon that U.S. corporations are holding increasing amount of cash in last few decades. document increase holdings (scaled by market value assets) is a smaller and narrower phenomenon. find average went up from 9.6% during period 1980-84 to 11.1% 2010-14. also most can be attributed firms only two sectors, namely, healthcare, hi?tech sectors. Finally, we th...

In the recent years, intangible assets and corporate brand have found a significant importance for corporates. These assets are accounted as essential for value making and even stabilizing the continuation of corporate trend. The purpose of the present study is to investigate the effect of profitability and operating cash flow on trademarks value in accepted corporate in Tehran stock exchange. ...

There are two schools of thought regarding cash policy, where one sect finds policy is insignificant in today’s perfect capital market condition and the other feel corporate key determinant company growth success. Corporates constantly balance maintaining reserves to cushion against future contingencies. Shortage liquid assets may affect operation firm. Cash management any firm bounded by preca...

The aim of a multi-mode resource-constrained project scheduling problem (MRCPSP) is to assign resource(s) with the restricted capacity to an execution mode of activities by considering relationship constraints, to achieve pre-determined objective(s). These goals vary with managers or decision makers of any organization who should determine suitable objective(s) considering organization strategi...

AbstractThe purpose of this study is to provide empirical evidence on the Effect Investment Opportunity Set ̧ Cash Conversion Cycle, Asset Growth, Net Working Capital and Company Size Holding. The population in was 83 companies with sampling techniques used were slovin method quota sampling. sample a Property Real Estate company that has complete financial statement data for 2017-2022. 205 or 41...