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Journal articles on the topic 'Capitalisation'

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Published: 4 June 2021

Last updated: 20 February 2023

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1

Lisi, Gaetano. "Income capitalisation method and hedonic model: an integrated approach." Journal of Property Investment & Finance 37, no. 3 (April 10, 2019): 289–300. http://dx.doi.org/10.1108/jpif-11-2018-0088.

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Purpose The purpose of this paper is to provide an integrated approach that combines the two methods usually used in the real estate appraisals, namely, the income capitalisation method and the hedonic model. Design/methodology/approach In order to pull out the link between the income capitalisation approach and the hedonic model, the standard hedonic price function is introduced into the basic model of income capitalisation instead of the house market value. It follows that, from the partial derivative, a direct relation between hedonic prices and discount rate can be obtained. Finally, by using the close relationship between income capitalisation and direct capitalisation, a mathematical relation between hedonic prices and capitalisation rate is also obtained. Findings The developed method allows to estimate the capitalisation rate using only hedonic prices. Indeed, selling and hedonic prices incorporate all of the information required to correctly estimate the capitalisation rate. Furthermore, given the close relation among going-in and going-out capitalisation rates and discount rate, the proposed method could also be useful for determining both the going-out capitalisation rate and the discount rate. Practical implications Obviously, it is always preferable to estimate the capitalisation rate by just using comparable transactional data. Nevertheless, the method developed in this paper is especially useful when: the rental income data are missing and/or not entirely reliable; the data on rental income and house price are related to different homes; the capitalisation rate, in fact, should compare the rent and value of identical homes. In these cases, therefore, the method can be a valuable alternative to direct estimation. Originality/value The large and important literature on real estate economics and real estate appraisal neglects the relationship between hedonic prices and capitalisation rate, thus considering the hedonic model and the income capitalisation approach as two separate and alternative methods. This paper, instead, shows that integration is possible and relatively simple.

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2

GUERARD, Jean-Claude. "CAPITALISATION ET MUTATION." Annals of Public and Cooperative Economics 61, no. 2-3 (April 1990): 387–402. http://dx.doi.org/10.1111/j.1467-8292.1990.tb01467.x.

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3

Peasnell, K. V. "Capitalisation Of Interest." British Accounting Review 25, no. 1 (March 1993): 17–42. http://dx.doi.org/10.1006/bare.1993.1004.

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4

Shatz, Itamar. "How native language and L2 proficiency affect EFL learners’ capitalisation abilities: a large-scale corpus study." Corpora 14, no. 2 (August 2019): 173–202. http://dx.doi.org/10.3366/cor.2019.0168.

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Capitalisation is a salient orthographic feature, which plays an important role in linguistic processing during reading, and in writing assessment. Learners’ second language (L2) capitalisation skills are influenced by their native language (L1), but earlier studies of L1 influence did not focus on learners’ capitalisation, and examined primarily ‘narrow’ samples. This study examines capitalisation error patterns in a large-scale corpus of over 133,000 texts, composed by nearly 38,000 EFL learners, who represent seven different L1s and a wide range of English proficiency levels. The findings show that speakers of all L1s made a large number of capitalisation errors, in terms of errors per word and error proportion (out of all errors), especially at lower L2 proficiency levels. Under-capitalisation was more common than over-capitalisation, though this gap narrowed over time. Interestingly, L1s which share English's Latin script had higher error rates, suggesting that (assumed) perceived similarity between the L1 and the L2 increases interference, though this interference could not be explained only through direct negative transfer. There was also an interaction between L1 influence and L2 proficiency, so that differences between speakers of different L1s became smaller as their L2 proficiency improved.

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5

DEVOLDER, Pierre. "Opérations stochastiques de capitalisation." ASTIN Bulletin 16, no. 3 (December 1, 1986): 5–30. http://dx.doi.org/10.2143/ast.16.3.2014990.

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6

Devolder, Pierre. "Operations Stochastiques de Capitalisation." ASTIN Bulletin 16, S1 (April 1986): S5—S30. http://dx.doi.org/10.1017/s0515036100011624.

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AbstractThis paper presents a stochastic model of capitalization which takes into account the financial risk in the actuarial processes.We first introduce a stochastic differential equation which allows us to define the capitalization and actualization processes.We use these concepts to present a new principle of premium calculation for the capitalization operations, based on the equality between backward reserve and conditional expectation of the forward reserve.A generalization of the classical Thiele equation in life insurance is also given.Numerical examples illustrate the model.

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7

Barrow, Michael, and Ray Robinson. "Housing and Tax Capitalisation." Urban Studies 23, no. 1 (February 1986): 61–66. http://dx.doi.org/10.1080/00420988620080061.

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8

Kļavinska, Antra. "CAPITALISATION ERRORS IN WRITTEN WORKS OF LEARNERS OF LATVIAN AS A FOREIGN LANGUAGE." SOCIETY. INTEGRATION. EDUCATION. Proceedings of the International Scientific Conference 1 (May 28, 2021): 282–91. http://dx.doi.org/10.17770/sie2021vol1.6281.

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Capitalisation in writing is usually determined by tradition. Different written languages can have their own grammatical, conceptual or stylistic capitalisation rules. Orthographies exist which do not have the division into capital and small letters. The aim of the article is to find out what problems with capitalisation foreign students in Latvian higher education institutions have during the acquisition of writing skills in Latvian as a foreign language. The research source are the essays written by learners of the Latvian language (foreign students studying in Latvian higher education institutions): the data of the Latvian language learner text corpus being created in the Institute of Mathematics and Computer Science of the University of Latvia were used. The requirements for the acquisition of capitalisation in the context of language learner competences are analysed in the study; the most typical capitalisation errors and possible reasons for them are analysed; and the author’s practical experience teaching the Latvian language to foreign students is revealed.

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9

Bester, P. G., W. D. Hamman, L. M. Brummer, N. Wesson, and B. W. Steyn-Bruwer. "Share repurchases: Which number of shares should be used by JSE-listed companies when publishing market capitalisation in annual reports?" South African Journal of Business Management 39, no. 4 (December 31, 2008): 51–61. http://dx.doi.org/10.4102/sajbm.v39i4.571.

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The legalisation of share repurchases in South Africa since July 1999 introduced additional complexity to financial reporting. The repurchasing of shares by subsidiaries or share trusts has led to a new concept: the number of company shares differs from the number of group shares. Ratios like earnings per share and headline earnings per share are governed by accounting standards and circulars, and prescribe the use of the (weighted) number of group shares. No guidance exists on the calculation of market capitalisation.This article aims to determine the methods used by companies listed on the JSE Securities Exchange South Africa (JSE) to calculate their number of shares when publishing market capitalisation. It was found that only about 25% of companies participating in share repurchases and publishing market capitalisation in their annual reports calculated market capitalisation based on the number of group shares. About 75% of the companies did not calculate their market capitalisation based on the number of group shares (i.e. they omitted to deduct subsidiary repurchases and/or trust consolidations in their calculation of the number of shares). It was also found that the JSE, when compiling the Top 40 index, calculates market capitalisation based on the number of company shares (i.e. ignoring subsidiary repurchases and trust consolidations). Accounting guidance is needed on the reporting of market capitalisation to ensure that this aspect is not overstated by the reporting entities.

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10

Saxena, Akshay. "The Indian Thin Capitalisation Rules." VISION: Journal of Indian Taxation 8, no. 1 (June 12, 2021): 38–53. http://dx.doi.org/10.17492/jpi.vision.v8i1.812103.

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11

Boś, Kacper. "Thin capitalisation – application and limitations under Polish tax law and EU Council Directive 2016/1164 (ATA Directive)." Ius et Administratio 45, no. 2-4 (2023): 32–45. http://dx.doi.org/10.15584/iuseta.2021.2-4.3.

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Objective: This article aims to present the phenomenon of thin capitalisation as well as to analyse its essence and application. The considerations are based on the historical and current Polish legislation, taking into account the impact of EU law, which makes it possible to compare various regulatory solutions in terms of thin capitalisation. Research Design & Methods: The considerations made in this article are based on both repealed and current provisions of the Act of 15 February 1992 on corporate income tax in the scope of thin capitalisation. Due to the need to implement EU Council Directive 2016/1164 of 12 July 2016 (ATA Directive) into the Polish legal system, its content has also been analysed. Findings: Changes in the scope of thin capitalisation introduced by the implemented ATA Directive should be considered favourable for the legal system. The current regulations govern thin capitalisation in a much clearer and less manipulable way than the previous solutions. In addition, they appropriately balance the interests of both the state and taxpayers. Implications / Recommendations: The EU-wide changes resulting from the provisions of the ATA Directive and previously also from the OECD actions under the BEPS Action Plan should have the intended effect of eliminating at least some of the aggressive tax optimisation activities without significantly affecting the interests of taxpayers. Contribution / Value Added: The article presents a comparative analysis of previous and current thin capitalisation solutions, which allowed the evaluation of regulations introduced by the Polish legislator as well as EU solutions.

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12

Saad, Ahmed, and Mahmoud Elsayed. "Determinants of capital adequacy at the Egyptian investors compensation fund." Corporate Ownership and Control 13, no. 2 (2016): 31–38. http://dx.doi.org/10.22495/cocv13i2p3.

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The purpose of this study is to investigate the protection system of investors in the Egyptian stock markets, using a number of econometric techniques and hand-collected data of Egyptian Investor Protection Fund over the period from 2006 to 2014. We measure the capital adequacy through two variables, which may be a benchmark in it selves or can be compared to similar regimes at developed stock markets, these variables are: the fund reserves as a percentage of market capitalisations and fund reserves available to compensate owners of the market capitalisations, which in turn depend upon the number of customers accounts subject to compensations, number of the market portfolio owners, the value of the investor securities account at every compensation fund member, number of stock traders, number of listed shares and number of transactions. Overall, there is significant positive coefficient/relationship between market capitalisation, retained earnings and reserve. However, there is significant negative coefficient/relationship between Number of listed companies and fund reserves capital.

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13

Salama, Pierre. "capitalisation comme fausse solution à la sortie de crise." Tensões Mundiais 15, no. 29 (January 6, 2020): 45–58. http://dx.doi.org/10.33956/tensoesmundiais.v15i29.1423.

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Sauf mouvements sociaux de grande ampleur, les pays latino-américains qui avaient opté pour un système de répartition, se dirigent petit à petit vers un système mixte alliant le système de répartition - avec des retraites calculées à partir d’un salaire de référence faible - et le système de capitalisation, obligatoire ou non, pour ceux qui désireraient avoir une retraite plus élevée. On aurait ainsi un système de retraite universel par répartition faible couplé d’un système par capitalisation de plus en plus important. Cette réforme rapprocherait les pays ayant opté pour la répartition vers ceux qui comme le Chili, la Colombie, le Mexique ont favorisé le système de capitalisation en espérant qu’un jour cela favoriserait la croissance…et pas seulement la spéculation boursière. Cet article a pour objet d’analyser les raisons pour lesquels le système de retraite en Amérique latine doit évoluer compte tenu de la transition démographique sans pour autant entrer dans un système de capitalisation . Contrairement à ce qui est souvent écrit, il existe des solutions alternatives à celles qui sont proposées.

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14

Nowak, Jessica. "Zur Diachronie der satzinternen Großschreibung im Niederländischen." Taal en Tongval 73, no. 2 (December 1, 2021): 209–43. http://dx.doi.org/10.5117/tet2021.4.nowa.

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Abstract On the history of sentence-internal capitalisation in Dutch – a corpus-based study on genre influence on the capitalisation practice Though sentence-internal capitalisation of nouns is – unlike in German – no hallmark of Modern Dutch orthography at all, initial studies on Early Modern Dutch writing practice have affirmed Maas’ (1995, 2007) claim that Dutch once exhibited at least a moderate tendency to uppercase nouns in sentence-internal position (cf. & 2020a): Since both studies were restricted on a corpus of bible prints, it remains an open question whether the capitalisation practice was restricted to this text type only. Therefore, the present paper aims at analysing the use of majuscules in other texts types to gain a more conclusive picture on the overall phenomenon. The contrastive analysis of bible prints with printed travel reports and sailing letters (1500-1800) confirms – on the one hand – previous findings, mainly the fact that the use of majuscules within common nouns was increasingly motivated by cognitive factors, mainly animacy and concreteness of the referent; on the other hand, however, the present study shows that sentence-internal capitalisation of common nouns was much more pronounced in non-biblical texts than expected by previous studies (cf. & 2020a). In contrast to bible prints, non-biblical texts did not abolish sentence-internal uppercase letters by the end of the 17th century, suggesting that this spelling convention was not abandoned due to religious reasons as suggested by & 2007).

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15

Suret, Jean-Marc. "Une évaluation des dépenses fiscales et subventions dans le domaine de la capitalisation des entreprises." Articles 69, no. 2 (March 23, 2009): 17–40. http://dx.doi.org/10.7202/602105ar.

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RÉSUMÉ Depuis 1976, le gouvernement québécois a mis en place plusieurs programmes de subventions et de dépenses fiscales destinés à améliorer la capitalisation des entreprises : le Programme d’aide à la capitalisation, les Sociétés de développement de l’entreprise québécoise, le Fonds de solidarité des travailleurs du Québec et le volet « développement » du Régime d’épargne-actions du Québec. Nous proposons une analyse avantages-coûts de ces programmes. Le coût fiscal de ces programmes est estimé à 917,35 millions de $ lorsque les crédits sont accumulés au taux des obligations. La perte d’opportunité des investisseurs, qui est de l’ordre de 215 millions de $, constitue le coût social. Les programmes ont accru les fonds propres des entreprises de 569,8 millions de $. Pour le gouvernement, le coût par $ de capitalisation se situe en moyenne à 1,61 $. Il varie entre 1,13 et 5,85 $ en fonction du programme étudié. Si l’on tient également compte des coûts assumés par les investisseurs, on peut estimer le coût total par $ de capitalisation supplémentaire à 1,99 $ pour l’ensemble des programmes. Cette étude montre également que seulement 3 des entreprises financées dans le cadre de ces programmes ont été des succès (sur 270 cas étudiés), et que 50 % des titres financés ont perdu plus de 80 % de leur valeur initiale en décembre 1990. Ces résultats paraissent de nature à remettre en question l’intervention de l’État dans le domaine de la capitalisation des entreprises au moyen de dépenses fiscales.

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16

Ademola, Adeyefa Felix. "Financial Sector Liberalisation and Capital Market Growth in Nigeria." International Journal of Research and Innovation in Social Science 06, no. 08 (2022): 761–70. http://dx.doi.org/10.47772/ijriss.2022.6839.

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The study examined financial sector liberalisation and capital market growth in Nigeria from 1985 to 2021 with secondary data sourced from the Central Bank of Nigeria Statistical Bulletin. The two formulated hypotheses were tested with the Augmented Dickey-Fuller (ADF) and error correction mechanism. Findings from the study revealed that broad money supply and credit to private sector have a positive and significant effect on both market capitalisation and volume of transactions. Also, cash reserve requirements and exchange rate have negative and significant effects on both market capitalisation and volume of transactions. Interest rates have significant and positive effects on market capitalisation and significant negative effects on volume of stock transactions. Foreign direct investment has a positive and insignificant effect on market capitalisation and volume of transactions. The study recommended that the monetary authority in Nigeria must continually improve the monetary policy to control the money supply in the economy and reduce the interest rate to enhance capital market expansion. Also, the Nigerian government should encourage more exports to create a positive relationship between exchange rate and stock prices. This will make local currency depreciate and local firms will become more competitive, leading to an increase in stock prices.

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17

Hennig, Solveigh, and Gunnar Breustedt. "The Incidence of Agricultural Subsidies on Rental Rates for Grassland." Jahrbücher für Nationalökonomie und Statistik 238, no. 2 (April 25, 2018): 125–56. http://dx.doi.org/10.1515/jbnst-2017-0124.

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Abstract This paper examines the impact of agricultural subsidies on rental rates for grassland. In theory, the capitalization of subsidies into grassland rents has become increasingly important as a result of the decoupling of direct payments from production in 2005. The focus is on the pass-through of both coupled and decoupled direct payments on grassland rentals in Western Germany. The empirical investigation is based upon farm-level data of grassland rental rates from the six farm census surveys carried out between 2001 and 2013. The results of spatial econometric models show that landlords of grassland have benefited strongly from the decoupling of direct payments. For the period prior to the decoupling of direct payments, the estimates point to low capitalisation of the livestock payments into grassland rentals. For the period after decoupling, the estimations reveal a significant pass-through of direct payments to landowners, with the marginal capitalisation increasing over time. At the end of the observation period, after regional standardisation of the payments, the estimates show marginal capitalisation rates of 87–94 cents per additional premium euro, suggesting almost complete capitalisation of the funding into the rental price for grassland.

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18

FRENETTE, François, and François BROCHU. "LES COOPÉRATIVES D’HABITATION À CAPITALISATION INDIVIDUELLE." Revue du notariat 106, no. 2 (2004): 205. http://dx.doi.org/10.7202/1045801ar.

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19

Lechevalier, Arnaud. "Allemagne : l'impasse des retraites par capitalisation." Alternatives Économiques N° 359, no. 7 (July 1, 2016): 38. http://dx.doi.org/10.3917/ae.359.0038.

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20

Giotto, Timo, and Jens Thoemmes. "La capitalisation du temps de travail." Cahiers de recherche sociologique, no. 59-60 (June 15, 2016): 113–34. http://dx.doi.org/10.7202/1036789ar.

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L’épargne-temps concerne, depuis son émergence aumilieu des années 1990, une part grandissante dessalariés dans différents pays industrialisés. Deuxformes majeures de capitalisation du temps existent. Lespremières sont les banques de temps qui permettentd’accumuler et d’échanger du temps au seind’une communauté. Les secondes sont les comptesépargne temps d’entreprise, qui offrent lapossibilité pour les salariés d’accumuler et degérer, par des comptes, leur temps de travail. Notre articletraite de cette dernière forme d’épargne temps parune recherche empirique de la négociation d’entreprise etdes usages individuels. Nous proposons d’interroger lacapitalisation du temps de travail comme une diversification des normeset des temps sociaux hérités del’industrialisation. D’abord nous décrirons leprocessus de l’individualisation des temporalités quiconfère désormais au salarié la capacité,la responsabilité et le risque de la conciliation des tempssociaux. Ensuite nous avancerons que ce processus ne produit pas uneatomisation, mais bien de nouvelles catégories desalariés qui se distinguent par leur usage des temps. Enfin,nous proposons une réflexion sur le rôle que joue lacapitalisation dans le processus de la sécularisation des normestemporelles par la réversibilité de la relation entretemps et argent.

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21

Menorca, Elizabeth S. "Hotel Valuations: the Income Capitalisation Approach." Journal of Property Valuation and Investment 11, no. 3 (March 1993): 211–16. http://dx.doi.org/10.1108/14635789310027301.

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22

Kim, Ji-Hwan, and Philip C. Woodland. "Automatic capitalisation generation for speech input." Computer Speech & Language 18, no. 1 (January 2004): 67–90. http://dx.doi.org/10.1016/s0885-2308(03)00032-9.

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23

Ohresser, Céline, Abdellah Ghenaïm, Jean-Bernard Poulet, and Abdelali Terfous. "Capitalisation des expériences en génie civil." European Journal of Environmental and Civil Engineering 12, no. 9-10 (November 2008): 1195–210. http://dx.doi.org/10.1080/19648189.2008.9693074.

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24

Høj, Anne Kristine, Mads Rahbek Jørgensen, and Poul Schou. "Land Tax Changes and Full Capitalisation." Fiscal Studies 39, no. 2 (April 18, 2018): 365–80. http://dx.doi.org/10.1111/1475-5890.12163.

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25

Chaffiotte, H. "La retraite en capitalisation (loi Madelin)." Acta Endoscopica 36, S1 (September 2006): 392–97. http://dx.doi.org/10.1007/bf03003370.

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26

Cui, Chenxi. "How Leaders Can Avoid the Tendency of "Primary Schooling" in Kindergartens - in China." International Journal of Education and Humanities 5, no. 3 (November 16, 2022): 210–14. http://dx.doi.org/10.54097/ijeh.v5i3.2806.

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As an important stage of education, early childhood education cannot avoid the problem of capitalisation. Then capitalisation has led to changes in the education system and kindergarten teaching system. Take education as a means of competition to profit for capital. Then, is this form of education suitable for the learning and development of young children? How we avoid this issue of education is the main study of this article.

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27

Mjomba, Mark. "THE EFFECTS OF MACROECONOMIC VARIABLES ON THE MARKET CAPITALISATION OF LISTED COMPANIES IN KENYA." International Journal of Finance and Accounting 2, no. 1 (February 3, 2017): 58. http://dx.doi.org/10.47604/ijfa.259.

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Purpose: This study aims to find out the effects of macroeconomic variables on market capitalization in Kenya.Methodology:The study adopted a descriptive research design. The target population was all the employees of Nairobi Securities Exchange. The study used a purposive sampling method to access data from the population of study. A random sampling technique was used to select a sample size of 96 respondents. Secondary data on these variables ranging from 1980 to 2014 was analysed using inferential statistics. Time series analysis and regression model were employed in the analysis.Results:The findings of study indicated that exchange rates had a positive and significant effect on market capitalisation of listed companies, the findings also shows that exchange rates had a fluctuating pattern during the period of study. Further the findings showed that interest rates and public debt had a negative significant effect on market capitalisation. An increase in domestic interest rates had corresponding negative impact on capital market. Further the findings showed that inflation rates had a negative effect on market capitalisation but the effect was less significant compared to interest rates, exchange rates and public debt. These findings do not primarily conclude that inflation rates, interest rates, exchange rates and public debt are the chief determinants of market capitalisation since market capitalisation is also affected by other variables not included in this study.Policy recommendation: The study therefore recommends that the Securities and Exchange Commission of Kenya should consider the trends in the variables under the study in policy formulation to ensure the development of a modern and efficient capital market sector based on sound policies that provide momentum for high and steady capital market.

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28

Petey, Joël. "Les déterminants du risque d'insolvabilité dans l'industrie bancaire. Une approche en termes de frontière de production." Recherches économiques de Louvain 70, no. 4 (2004): 401–24. http://dx.doi.org/10.1017/s0770451800006102.

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RésuméLe risque d'insolvabilité d'une institution financière résulte de ses choix d'investissement, de financement et de capitalisation. Cet article propose une application à l'industrie bancaire française d'une méthodologie développée par Hughes et Moon (1996) permettant une estimation jointe de l'espérance de profit et de sa variance à partir d'une fonction de dépense dérivée du Système Presque Idéal de Demande. En considérant le risque comme l'input unique du processus de production du profit, on construit une frontière rendement risque de l'industrie bancaire à partir de laquelle sont calculés des scores d'efficience selon la méthode DEA. Bien que le risque de l'actif apparaisse comme une fonction croissante de la capitalisation, le risque d'insolvabilité est décroissant dans la capitalisation. L'effet de la taille se traduit essentiellement par un risque de crédit accru pour les grandes banques relativement spécialisées sur ce segment d'activité.

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29

Kumar, Sharat. "Central Public Sector Enterprises in India: A Case of Policy and Perception Conundrum." Indian Journal of Public Administration 67, no. 2 (June 2021): 177–87. http://dx.doi.org/10.1177/00195561211025958.

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The fact that there is a direct relationship between higher investment and higher economic growth is accepted by all. Central Public Sector Enterprises (CPSEs), in this respect, have been vehicles of large-scale investment in the country. A good many of these enterprises are listed on the stock exchanges. Their market capitalisation, however, recorded a significant fall in recent months despite these companies showing good performance on their ‘profit and loss’ accounts. The recent government pronouncements regarding CPSEs are observed to have adversely impacted the market sentiments and consequently their market capitalisation. The article argues that a White Paper on implementation of pending reforms as recommended by the Panel of Experts on Reforms in CPSEs, set up by the Planning Commission earlier, would go a long way in reversing the current trend of fall in market capitalisation of these enterprises.

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30

Latruffe, L., T. Doucha, Ch Le Mouël, T. Medonos, and V. Voltr. "Capitalisation of government support in agricultural land prices in the Czech Republic." Agricultural Economics (Zemědělská ekonomika) 54, No. 10 (October 24, 2008): 451–60. http://dx.doi.org/10.17221/278-agricecon.

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The recent implementation of the CAP Single Area Payments in the EU New Member States raises the question of whether a quick capitalisation of these payments is expected. Capitalisation of public support to agriculture into land prices indicates that the benefits are partly transferred toward landowners rather than toward producers. This distributional aspect is of particular importance in countries where a large proportion of land is farmed by producers who do not own this land. This study investigates the influence of several types of support on Czech agricultural land prices from private transactions between 1995–2001. The past period direct payments have been capitalised at the strongest rate, despite their low level and imperfections on the land market, suggesting that such support is most easily transferred to land values. A continuing capitalisation might threaten the farming activity, as farms are almost only tenanted. And because most of the landowners live in towns, there is a risk of an extreme leakage of support not only outside the farming sector, but also outside the rural sector.

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31

Vermeulen, M., and Y. Yaffar. "Consolidation of the number of treasury shares: The South African experience." South African Journal of Business Management 45, no. 1 (March 31, 2014): 67–77. http://dx.doi.org/10.4102/sajbm.v45i1.118.

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Unlike most other values found in companies’ annual reports, there are no accounting standards that prescribe the calculation of market capitalisation and net asset value per share. These two figures play quite a significant role whenvaluing and comparing different companies. It is also frequently used in determining when a company should repurchase its own shares. In South Africa the number of the holding company’s shares can differ from the total number of the group’s shares after consolidation, as subsidiaries and share trusts are allowed to hold shares in their holding company. The published financial statements of a sample of JSE-listed companies were investigated to determine which number of shares companies use to calculate net asset value per share and market capitalisation, and if it is used consistently. Eight different combinations of consolidated and unconsolidated numbers of shares were found in the calculations of market capitalisation and net asset value per share showing inconsistency in application across the JSE-listed companies

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32

Góral, Justyna, and Jacek Kulawik. "PROBLEM OF CAPITALISATION OF SUBSIDIES IN AGRICULTURE." Problems of Agricultural Economics 342, no. 1 (March 27, 2015): 3–23. http://dx.doi.org/10.5604/00441600.1147600.

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Cendron, Jean-Pierre. "La capitalisation au secours de la répartition ?" Économie & prévision 71, no. 5 (1985): 3–21. http://dx.doi.org/10.3406/ecop.1985.3430.

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Teixera, Glória. "Thin Capitalisation in the Portuguese Tax System." Intertax 24, Issue 12 (December 1, 1996): 472–79. http://dx.doi.org/10.54648/taxi1996080.

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Ninčević, Siniša, and Željka Zanchi. "The Importance of Correct Punctuation and Capitalisation." Transactions on Maritime Science 1, no. 1 (April 18, 2012): 47–57. http://dx.doi.org/10.7225/toms.v01.n01.006.

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This paper concerns the correct usage of English capitalisation and punctuation. Devised as a sort of guide or manual, it is primarily intended for ESL learners. It lists a set of basic rules, as well as the accompanying examples, in order to facilitate their acquisition and to draw attention to the significance of the correct application of these rules since the failure to properly capitalise letters, omit, or to properly employ punctuation marks destroys the structure of the text and may lead to miscommunication between the writer and the reader, i.e., prevent the information from being properly conveyed, and your goals being properly met. Consequently, correct capitalisation and punctuation is an indispensable language tool in academic and scientific settings.

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Glenn, Glenn Rikowski. "On the capitalisation of schools in England." Teoria e Prática da Educação 22, no. 3 (November 28, 2019): 05–18. http://dx.doi.org/10.4025/tpe.v22i3.50943.

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This article outlines some ideas that can be used in a project of educational subversion that seeks to relate particular educational phenomena to the constitution of capitalist society. These phenomena are elements of what I have previously (RIKOWSKI, 2003b; 2005c) called the ‘business takeover of schools’. Indeed, I have never really provided a sustained account of what I mean by this term, and how it relates to other concepts such as privatisation and commodification. Thus, I shall do so now in the context of certain developments in the schools system in England – which has been an interest of mine since 1997.

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Ramaz-Beaujard, D. "La capitalisation, moyen ou finalité de l'exploitation ?" Économie rurale 181, no. 1 (1987): 20–25. http://dx.doi.org/10.3406/ecoru.1987.3846.

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Rath, Anita. "Capitalisation of Property Tax in Indian City." Indian Economic Journal 62, no. 2 (July 2014): 895–914. http://dx.doi.org/10.1177/0019466220140202.

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Le Roux, Dominique, and Jean Vidal. "Verbatim: Une Experience De Capitalisation D'Entretiens Qualitatifs." Bulletin of Sociological Methodology/Bulletin de Méthodologie Sociologique 65, no. 1 (January 2000): 58–67. http://dx.doi.org/10.1177/075910630006500106.

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Nadiia Davydenko, Nadiia Davydenko. "Conceptual Approaches to the Capitalisation of Enterprises." Economic journal of Lesia Ukrainka Eastern European National University 5, no. 1 (2016): 62–67. http://dx.doi.org/10.29038/2411-4014-2016-01-62-67.

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Brown, Robert L. "Adjusting Option Contracts to Reflect Capitalisation Changes." Journal of Business Finance & Accounting 16, no. 2 (March 1989): 247–54. http://dx.doi.org/10.1111/j.1468-5957.1989.tb00016.x.

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Stadelmann, David, and Steve Billon. "Capitalisation of Fiscal Variables and Land Scarcity." Urban Studies 49, no. 7 (August 17, 2011): 1571–94. http://dx.doi.org/10.1177/0042098011415433.

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Trachenko, M. B., O. A. Revzon, and A. O. Volodina. "Sustainable development of companies as a driver of capitalisation growth in a smart economy." E-Management 5, no. 2 (June 30, 2022): 99–108. http://dx.doi.org/10.26425/2658-3445-2022-5-2-99-108.

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Digitalisation processes have a signifcant impact on changing forms of interaction between economic entities; they also contribute to the development of the fnancial market. Thus, the study of the capitalisation of companies as one of the defning indicators of the stock market is becoming increasingly relevant, including the identifcation of factors that have a direct and indirect impact on the volatility of the indicator under consideration and their management capabilities. The purpose of this study is to identify the relationship between the sustainable development of the enterprise, as well as its components and the capitalisation of the company. The methodological basis of the study is the balanced growth model, general scientifc methods – analysis and synthesis, as well as statistical – correlation and regression analysis. The empirical base of the study includes 20 companies whose shares are traded on the stock market of the Russian Federation. The authors conducted a correlation and regression analysis and as a result revealed the relationship between the sustainable development of companies and their capitalisation.

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Almeida, Joana, and Raquel M. Gaspar. "Accuracy of European Stock Target Prices." Journal of Risk and Financial Management 14, no. 9 (September 14, 2021): 443. http://dx.doi.org/10.3390/jrfm14090443.

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Equity studies are conducted by professionals, who also provide buy/hold/sell recommendations to investors. Nowadays, target prices determined by financial analysts are publicly available to investors, who may decide to use them for investment purposes. Studying the accuracy of such analysts’ forecasts is, thus, of paramount importance. Based upon empirical data on 50 of the biggest (larger capitalisation) European stocks over a 15-year period, from 2004 to 2019, and using a panel data approach, this is the first study looking at overall accuracy in European stock markets. We find that Bloomberg’s 12-month consensus target prices have no predictive power over future market prices. Our panel results are robust to company fixed effects and subperiod analysis. These results are in line with the (mostly US-based) evidence in the literature. Extending common practice, we perform a comparative accuracy analysis, comparing the accuracy of target prices with that of simple capitalisations of current prices. It turns out target prices are not better at forecasting than simple capitalisations. When considering individual regressions, accuracy is still very low, but it varies considerably across stocks. By also analysing the relationship between both measures—target prices and capitalised prices—we find evidence that, for some stocks, capitalised prices partially explain how target prices are determined.

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Jovanović, Tatjana. "Did Tax Reform (Thin Capitalization Rule) from 2005 in Slovenia Achieve its Aim?" Lex localis - Journal of Local Self-Government 12, no. 2 (April 16, 2014): 205–24. http://dx.doi.org/10.4335/12.2.205-224(2014).

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The thin capitalisation rule is the specific anti-avoidance rule which aims to protect national tax revenues from excessive debt financing of corporations. The literature indicates the effectiveness of thin capitalisation rules in limiting internal borrowing. Following in the footsteps of many countries, Slovenia introduced 'thin cap' rules via a tax reform in 2005. The paper focuses on testing whether the introduction of the rule in 2005 has affected the level of internal borrowing in enterprises which are 25% or more owned by foreign entities from the EU and, consequently, whether it has achieved its aim.

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Zhang, Zhou, and Mao. "Does the Difference in Urban Public Facility Allocation Cause Spatial Inequality in Housing Prices? Evidence from Chongqing, China." Sustainability 11, no. 21 (November 1, 2019): 6096. http://dx.doi.org/10.3390/su11216096.

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The current study argues that the capitalisation effect of urban public facilities on housing will be considerable when the accessibility or availability of facilities has a serious stake in the location or property rights of houses. The supply level and supply quantity of urban public facilities determine whether there is a significant difference in the accessibility or availability of facilities amongst neighbourhoods, and subsequently determines whether the capitalisation effect of facilities on surrounding houses is considerable, which ultimately affects the spatial inequality in housing prices (i.e. spatial dispersion of housing prices). However, previous studies have rarely considered the fact that the supply and demand of urban public facilities vary with the type of facilities. Thus, according to the law of diminishing marginal utility, the current study proposes a theoretical framework for the impact of the allocation of urban public facilities at different supply levels on the spatial inequity in housing prices and verifies this through a case study. Results indicate that the difference in urban public facility allocation caused by the unequal supply quantity or unbalanced spatial distribution has a notable impact on the spatial inequality in housing prices. There are three states of allocation of urban public facilities available according to different supply levels, namely, disequilibrium, quantitative equilibrium and spatial equilibrium:(І) Scarce and high-quality public resources that may always be in the disequilibrium state create a substantial capitalisation effect on nearby housing, and their presence will aggravate spatial inequality in housing prices; (П) Public facilities that can only reach the quantitative equilibrium state have a considerable capitalisation effect on nearby housing, and their supply densities have a positive impact on the spatial inequality in housing prices; (Ш) Public facilities in the spatial equilibrium state have a negligible capitalisation effect on nearby housing, and their supply densities have a negative impact on the spatial inequality in housing prices. Therefore, it is reasonable to argue that urban public facilities at different supply levels have a diversified impact on the housing market. This study can contribute to having a comprehensive and in-depth understanding of the diversified impact of urban public facilities on the housing market.

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Alharthi, Majed. "Determinants of profit ability in banking: an international comparative study of islamic, conventional and socially responsible banks." Corporate Ownership and Control 13, no. 4 (2016): 627–39. http://dx.doi.org/10.22495/cocv13i4c4p12.

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This study aims to find the determinants of profitability in Islamic, conventional, socially responsible banks covering the period 2005-2012. This paper applies profitability’s indicators as the return on assets (ROA), return on equities (ROE) and net interest margin (NIM) ratios. The statistical approach to find factors of profitability is OLS. The highest ROA and ROE were attained by conventional banks, whereas, SRBs scored the lowest ROA and ROE. By contrast, the SRBs scored the highest NIM measures, while conventional banks have the minimum NIM ratios. Based on Islamic banks’ results, Islamic banking was affected positively by size and z-score while, capital ratio, GDP and inflation decreased earnings significantly. Also, conventional banks were more profitable with higher size, capitalisation, loans and z-score. Finally, SRBs earnings have positive and significant relationships with z-score and market capitalisation growth. On the other side, foreign, domestic and public ownerships impacted the profits badly. According to industry-specific variables, market capitalisation development supported the profitability ratios whereas, GDP growth reduced the profits. This study helps managers and policy makers in banking sector to increase the profits with lower risks by concentrating on positive factors.

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Alharthi, Majed. "Stability in Islamic, conventional, and socially responsible banks: Evidence from MENA countries." Corporate Ownership and Control 14, no. 2 (2017): 211–21. http://dx.doi.org/10.22495/cocv14i2c1p7.

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This study empirically estimates financial stability and its determinants in 40 Islamic banks, 168 conventional banks, and 8 socially responsible banks (SRBs) in MENA region during the period 2005-2012. The dependent variables in this study are capital ratio (equity to total assets) and z-score. The statistical approaches to find the relationship between financial stability indicators and their determinants are ordinary least square (OLS) and fixed effects model FEM). The results suggest that the SRBs are the most stable banks while, Islamic banks are highly risky. Moreover, conventional banks score the minimum capitalisation. The stability in Islamic banks is positively affected by ROA and age. Furthermore, the main determinants of capitalisation in Islamic banks are operating leverage, GDP, and market capitalisation. In conventional banking, size and profitability are important to stability. The capitals have effective associations with lending, ROA, and market development. In SRBs, banks achieve better stability in countries with higher inflation. This study could help bankers, policy makers and economists who focus on MENA region. The coverage of period 2005-2012 could be a limitation and the availability of data for the Islamic and socially responsible banks in MENA area could be another limitation as well.

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Drouhin, Nicolas. "Systèmes de retraite et accumulation du capital: un modèle à générations imbriquées avec durée de vie incertaine." Recherches économiques de Louvain 63, no. 2 (1997): 133–51. http://dx.doi.org/10.1017/s0770451800010496.

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RésuméDans un modèle à générations imbriquées avec production «à la Diamond», on introduit de l'incertitude sur la durée de vie. En comparant la dynamique d'une économie sans système de retraite avec celle d'une économie disposant d'un système de retraite par capitalisation, on montre que ce dernier tend à diminuer l'accumulation du capital. On illustre également ce que nous qualifions de motif d'assurance pour justifier la mise en place d'un tel système. Enfin nous analysons en quoi la prise en compte de l'incertitude sur la durée de vie remet en cause les conclusions de Samuelson [1975] sur l'optimalité des systèmes de retraite associant capitalisation et répartition.

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Bomsel, Olivier. "Enjeux industriels du post-socialisme : capitalisation et entreprisation." Revue d’économie industrielle 72, no. 1 (1995): 31–46. http://dx.doi.org/10.3406/rei.1995.1570.

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