Academic literature on the topic 'Cash flows from operations'
Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles
Consult the lists of relevant articles, books, theses, conference reports, and other scholarly sources on the topic 'Cash flows from operations.'
Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.
You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.
Journal articles on the topic "Cash flows from operations"
1
Lightstone, Karen, Karrilyn Wilcox, and Louis Beaubien. "Misclassifying cash flows from operations: intentional or not?" International Journal of Accounting and Information Management 22, no. 1 (February 25, 2014): 18–32. http://dx.doi.org/10.1108/ijaim-07-2012-0039.
Full textAbstract:
Purpose – The purpose of this paper is to investigate the accuracy and informational quality of the cash from operations section of the cash flow statement. Design/methodology/approach – This paper empirically tested the accuracy of the cash from operations reported by Canadian non-financial companies. The authors studied 262 companies at three different time periods providing 786 firm observations. For each observation, the balance sheet was used to confirm the figures reported in the statement of cash flows. In addition, the authors investigated management's disclosure of the particular working capital items. Findings – The findings suggest that in recent years, companies are more likely to overstate their cash flow from operations, thereby presenting a better financial picture than is supported by the balance sheet accounts. This would suggest that the investing or financing section would be correspondingly understated. The presence of acquisitions reduces overstatements, which may be the result of more auditor presence. Research limitations/implications – This paper extends previous research from documented single, isolated instances of cash from operations being misstated to include a significant sample with more generalizable findings. The data are Canadian which may limit the generalizability to other countries. Future research should address the extent to which financial analysts rely on the reported cash from operations figure. Practical implications – This preliminary study may have implications for financial analysts and others relying on the free cash flow figure. Originality/value – This study expands on previous research which has taken place only on a case-by-case basis.
2
Burke, Qing L., and Matthew M. Wieland. "Value relevance of banks' cash flows from operations." Advances in Accounting 39 (December 2017): 60–78. http://dx.doi.org/10.1016/j.adiac.2017.08.002.
Full text
3
Irawan, Sheila, and Yie Ke Feliana. "KEMAMPUAN LABA UNTUK MEMBERIKAN INFORMASI LABA PERIODE MENDATANG DAN ARUS KAS OPERASI PERIODE MENDATANG SELAMA PERIODE KONVERGENSI IFRS DI INDONESIA." CALYPTRA 5, no. 2 (March 1, 2017): 196. http://dx.doi.org/10.24123/jimus.v5i2.3088.
Full textAbstract:
Abstrak - Penelitian ini bertujuan untuk melihat dampak adopsi IFRS secara bertahap khususnya dalam kemampuan earnings periode ini untuk memberikan informasi future earnings dan future cash flows from operations selama periode konvergensi IFRS di Indonesia dengan membandingkan kemampuan earnings untuk memprediksi future earnings dan future cash flows from operations tiap periode. Penelitian ini menggunakan pendekatan secara kuantitatif dengan badan usaha yang terdaftar di BEI selama periode 2010-2013 sebagai objek penelitian. Jumlah sampel yang digunakan pada penelitian ini adalah 420 badan usaha. Temuan penelitian menunjukkan bahwa tidak ada peningkatan hubungan antara earnings periode berjalan dengan future earnings, namun ada peningkatan hubungan antara earnings periode berjalan dengan future cash flows from operations. Hal ini terjadi karena adopsi IFRS menuntut perusahaan untuk lebih transparan dengan adanya full disclosure, sehingga net income kurang dapat dimanipulasi mengakibatkan earnings yang terjadi periode ini belum tentu berulang di periode selanjutnya yang menyebabkan menurunnya kemampuan untuk memprediksi future earnings, namun meningkatkan kemampuan untuk memprediksi future cash flows from operations karena laba yang terjadi periode tersebut berhubungan erat dengan arus kas dari aktivitas operasional di periode selanjutnya.
 Kata kunci : Current Earnings, Future Earnings, dan Future Cash Flows from Operations
 Abstract – This study aims to look at the impact of the adoption of IFRS gradually, especially the ability of current earnings to provide information about future earnings and future cash flows from operations during the period IFRS convergence in Indonesia by comparing the ability of earnings to predict future earnings and future cash flows from operations of each period. This study uses a quantitative approach to all of the business entity listed on the Stock Exchange during the period 2010-2013 as the research object. The samples used in this study were 420 business entities. The study's findings that there is no increasing relationship between the current earnings and future earnings, but there is an increasing relationship between current earnings and future cash flows from operations. This happens because of the adoption of IFRS requires companies to be more transparent with their full disclosure, so net income is less manipulated, it makes earnings that occurred this period may not be repeated in the next period which led to a decreased ability to predict future earnings, but improving the ability of current earanings to predict future cash flows from operations because current earnings are more closely related to future cash flow from operating activities.
 Keywords : Current Earnings, Future Earnings, and Future Cash Flows from Operations
4
Mostafa, Wael. "The incremental value relevance of cash flows and earnings affected by their extremity." Management Research Review 39, no. 7 (July 18, 2016): 742–67. http://dx.doi.org/10.1108/mrr-03-2015-0069.
Full textAbstract:
Purpose In contrast to earlier studies, the most recent studies on the incremental value relevance of earnings and cash flows from operations find that both earnings and cash flows have incremental value relevance beyond each other. An interesting question that follows is whether these findings hold after controlling the extremity of earnings and cash flows. This study, therefore, aims to examine the incremental value relevance of earnings and cash flows in the following four cases: moderate earnings and moderate cash flows, moderate earnings and extreme cash flows, extreme earnings and moderate cash flows and extreme earnings and extreme cash flows. Design/methodology/approach To evaluate the incremental value relevance (information content) of earnings and cash flows for each of the four cases mentioned above, we examine the statistical significance of the slope coefficients for regression of returns on both unexpected earnings and unexpected cash flows from operations. Findings The results show that (i) both moderate and extreme earnings have incremental value relevance beyond both moderate and extreme cash flows, (ii) moderate cash flows have incremental value relevance beyond both moderate and extreme earnings and (iii) extreme cash flows lack incremental value relevance beyond moderate earnings; however, they (extreme cash flows) have incremental value relevance beyond extreme earnings. These results suggest that earnings and cash flows have incremental value relevance. However, only in cases when cash flows are extreme and earnings are moderate, cash flows do not possess incremental value relevance. In further analysis, we find that the value relevance for cash flows and earnings decreases when they are extreme and transitory. Moreover, the value relevance for cash flows increases when they are moderate (not extreme) and the other competing measure (earnings) is transitory and extreme. Practical implications The results support the idea that earnings and cash flows from operations complement each other in explaining variation in returns. However, when cash flows are extreme and less informative, investors rely more on earnings in firm valuation, especially when earnings are moderate. Because earnings are unlikely to persist to be permanent across the years, these results can be interpreted as indicating that cash flows and earnings information are used jointly by investors. Originality/value In contrast to previous studies, we control for the extremity of earnings and cash flows when evaluating the incremental value relevance of earnings and cash flows from operations.
5
Farshadfar, Shadi. "The usefulness of operating cash flow information: Does format matter?" Corporate Ownership and Control 10, no. 1 (2012): 44–52. http://dx.doi.org/10.22495/cocv10i1art4.
Full textAbstract:
This study investigates whether the direct method of presenting cash flows from operations is superior to the indirect method in its ability to forecast future cash flows. It also considers the effect of industry characteristics on the relative usefulness of direct and indirect methods of cash flow presentation. The study, which uses a sample of Australian firms, finds that both the direct and indirect methods improve the forecast of future cash flows. However, the indirect method of reporting cash flows from operations is more relevant than the direct method in predicting future cash flows. Evidence from the industry-level analysis overall reinforces the main results.
6
Kim, Jeong-Jae. "Changing Relationship Between Accruals and Cash Flows from Operations." Korean Data Analysis Society 19, no. 5 (October 31, 2017): 2651–62. http://dx.doi.org/10.37727/jkdas.2017.19.5.2651.
Full text
7
Mostafa, Wael. "The relative information content of cash flows and earnings affected by their extremity." Managerial Finance 40, no. 7 (June 3, 2014): 646–61. http://dx.doi.org/10.1108/mf-06-2013-0128.
Full textAbstract:
Purpose – Many studies examine the relative information content of earnings and cash flows from operations. Most studies find that earnings have higher information content than cash flows. An interesting question that follows is whether these findings hold after controlling the extremity of earnings and cash flows. The purpose of this paper is to examine the relative information content of earnings and cash flows in the following four different cases: first, moderate earnings vs moderate cash flows, second, extreme earnings vs moderate cash flows, third, moderate earnings vs extreme cash flows, and fourth, extreme earnings vs extreme cash flows. Design/methodology/approach – To assess the relative information content of earnings and cash flows for each of the four cases mentioned above, the authors compare the explanatory power for regression of returns on unexpected earnings relative to regression of returns on unexpected cash flows. Therefore, the author compares the adjusted R2 of the model with earnings variables and the model with cash flows variables using Vuong's test, that examines the statistical significance of the difference between adjusted R2s of the rival (non-nested) models, and interpret a statistically higher adjusted R2 as an indicator for higher relative information content. Findings – The results show that: first, when both earnings and cash flows are moderate, earnings are more highly associated with stock market price changes than cash flows, second, when both earnings and cash flows are extreme, earnings also have greater relative information content than cash flows, third, when the extremity differs between earnings and cash flows, the moderate variable is superior to the other extreme variable in explaining security returns. These results suggest that earnings are definitely more value relevant than cash flows. However, only in cases when cash flows from operations are moderate and earnings are extreme, cash flows possess higher information content than earnings. Practical implications – The explanatory power for stock returns will be higher for earnings or cash flows depending on which is more highly persistent. This result reverses the conventional finding of the superiority of earnings over cash flows in explaining security returns. Originality/value – In contrast to previous studies, the authors control for the extremity of earnings and cash flows when evaluating the relative information content of earnings and cash flows from operations.
8
Musembi, Damaris Mutindi, and Fred Sporta. "Effect of Investments on Cash flow of Manufacturing Firms Listed at the Nairobi Securities Exchange." International Journal of Finance Research 4, no. 1 (April 30, 2023): 25–46. http://dx.doi.org/10.47747/ijfr.v4i1.1071.
Full textAbstract:
The researcher in this study sought to establish the factors that affect cash flow in manufacturing firms in Kenya. The study was guided by the following specific objectives,to establish how investments affect cash flow in manufacturing firms listed in the Nairobi stock exchange, to find out how inventory controls affect cash flow in manufacturing firms listed in the Nairobi stock exchange, to determine how profitability affect cash flow in manufacturing firms listed in the Nairobi stock exchange. The researcher used descriptive research design to describe the factors affecting cash flow in manufacturing firms listed in the Nairobi stock exchange. A firm should be able to generate enough cash flows from its operations. If a firm is not able to cover its current liabilities with cash generated from operations, it will have cash challenges in financing its operations. A cash flow ratio of oneshow that the firm has healthy cash flows and a ratio of less than one shows that the firm does not have enough cash flows to finance its operations. The study covered a period of five years from 2012 to 2017.The methodology for the study was descriptive research design. The study employed population census as the listed firms were very few for the researcher to employ sampling. The listed firms were nine. Analyzed data was presented using figures and tables. The study findings revealed that there is a positive relationship between cash flows and investments as measured by net capital expenditure, profitability as measured by return on assets. There is a negative relationship between cash flows and inventory control as measured by inventory turnover. The study also established that there is a positive relationship between cash flows and profitability of a firm as measured by return on Assets (ROA).cash flows in all the firms have the same trend expect for Eveready East African ltd. The study concluded that manufacturing firms should exercise inventory control, invest wisely and also manage profitability of assets to ensure that the firm has enough cash flows to fund its operations
9
Farshadfar, Shadi, and Reza Monem. "Discretionary accruals and the predictive ability of earnings in the forecast of future cash flows: Evidence from Australia." Corporate Ownership and Control 9, no. 1 (2011): 597–608. http://dx.doi.org/10.22495/cocv9i1c6art3.
Full textAbstract:
We examine whether discretionary and non-discretionary accruals improve the predictive ability of earnings for forecasting future cash flows in an Australian context. Using both within-sample and out-of-sample forecasting tests; we demonstrate that discretionary accruals improve the predictive ability of earnings in the forecast of future cash flows. Further, discretionary and non-discretionary accruals and direct method cash flow components together are more useful than (i) aggregate earnings, (ii) aggregate cash flow from operations and total accruals, and (iii) aggregate cash flow from operations, discretionary accruals and nondiscretionary accruals.
10
Trent, William A. "Do Core and Non-Core Cash Flows from Operations Persist Differentially in Predicting Future Cash Flows?" CFA Digest 38, no. 4 (November 2008): 39–40. http://dx.doi.org/10.2469/dig.v38.n4.2.
Full textDissertations / Theses on the topic "Cash flows from operations"
1
Zhai, Yong Hong. "Asset revaluation and future firm operating performance: evidence from New Zealand." Master's thesis, Lincoln University. Commerce Division, 2007. http://theses.lincoln.ac.nz/public/adt-NZLIU20071015.143314/.
Full textAbstract:
The regulatory framework of many countries allows the upward revaluation of assets. Previous studies on the association of asset revaluation and future performance in Australia (Barth and Clinch, 1998), U.K. (Aboody, Barth and Kasznik, 1999) and Hong Kong (Jaggi and Tsui, 2001) have shown that upward asset revaluations are positively associated with the firms operating performance, suggesting that asset revaluations are value relevant. This study extends the previous research by focusing on the New Zealand environment with recent data to examine the association of upward asset revaluation and future operating performance. There is no obvious evidence indicating that upward revaluations are associated with operating performance in New Zealand. Our market assessments show that current year asset revaluations are related to share prices and returns, but are not statistically significant.
2
Hiasat, Shuja'a Ahmad Abdelfattah. "Stock price and cost of debt reaction to changes in cash flow from operations." Master's thesis, Instituto Superior de Economia e Gestão, 2020. http://hdl.handle.net/10400.5/20218.
Full textAbstract:
Mestrado em Finanças<br>Investigamos como o fluxo de caixa das operações afeta o retorno do preço das ações e o custo da dívida e comparamos o efeito relativo do fluxo de caixa versus o lucro líquido nos dois custos de financiamento. Este documento também compara a liquidez entre os índices STOXX Europe 600 e Amman 100 (ASE100), usando quatro medidas: Fluxo de Caixa das Operações, Retorno Ajustado ao Mercado, Retorno Anormal Cumulativo e o Custo da Dívida e seu impacto relativo na associação de fluxo de caixa com custo de capital. Os dados trimestrais utilizados para esta pesquisa são de empresas de capital aberto da Jordânia e de países europeus, de 2009 a 2018. Este estudo contribui para a literatura, pois fornece evidências sobre a associação relativa de ganhos e fluxos de caixa com o custo da dívida e retorno das ações. Também somos os primeiros a considerar qualquer efeito de liquidez de mercado nessa associação.
Os resultados mostram um efeito positivo do fluxo de caixa das operações no retorno do preço das ações. Também mostra uma associação negativa e uma influência mais significativa do fluxo de caixa das operações do que o lucro líquido no custo da dívida, reduzindo-o. Além disso, o documento também mostra que o fluxo de caixa das operações tende a influenciar o retorno anormal acumulado e o custo da dívida de uma maneira melhor na Jordânia (um mercado menos líquido) do que no mercado europeu mais desenvolvido.<br>We investigate how the Cash Flow from Operations affects both the Stock Price Return and the Cost of Debt and compare the relative effect of Cash Flow versus Net Income on both costs of financing. This paper also compares the liquidity between STOXX Europe 600 and Amman stock exchange 100 (ASE100) indexes using four measures, Cash Flow from Operations, Market Adjusted Return, Cumulative Abnormal Return, and the Cost of Debt and its relative impact on Cash flow association with cost of capital. The quarterly data used for this research comes from publicly listed firms from Jordan and European countries, from 2009 through 2018. This study contributes to literature since it provides evidence on the relative association of Earnings and cash flows with cost of debt and stock returns. We are also the first to consider any market liquidity effect on this association.
The results show a positive effect of Cash Flow from Operations on Stock Price Returns. It also shows a negative association and a more significant influence from Cash Flow from Operations than Net Income on the Cost of Debt, by reducing it. Furthermore, the paper also shows Cash Flow from Operations tend to influence the Cumulative Abnormal Return and the Cost of Debt in a better way in Jordan (a less liquid market) than in the more developed European market.<br>info:eu-repo/semantics/publishedVersion
3
January, Carol. "Studies in the effectiveness of cash flows from operating and investing activities as possible early indicators of bankruptcy." Thesis, Stellenbosch : Stellenbosch University, 2001. http://hdl.handle.net/10019.1/52464.
Full textAbstract:
Thesis (MBA)--Stellenbosch University, 2001.<br>ENGLISH ABSTRACT: Users of Cash Flow Statements expect the information provided as cash flow from
operating and investing activities to serve as a possible indicator that the company is
facing bankruptcy. Traditionally, companies disclose depreciation as an operating activity
and replacement of fixed assets as an investing activity. Companies that direct cash
payments toward dividend and future expansion without addressing replacement of fixed
assets are creating an unrealistic picture of their operating and investing activities.
Generally accepted accounting practices (GAAP) have limited its disclosure requirements
and has not addressed the issue of separating the expansion of fixed assets from
replacement.
This mini-study project researches the impact of disclosing depreciation as an investing
activity and the replacement of fixed assets as an operating activity.
Based on the findings, it is recommended that GAAP make it a requirement that the
replacement and expansion of fixed assets be disclosed separately. It is further
recommended that either depreciation be disclosed as an investing activity, or that
replacement of fixed assets be disclosed as an operating activity on the Cash Flow
Statement.
The methods of disclosure investigated in the study will lead to an improvement in the
ability of the two activities to serve as possible early indicators of bankruptcy.<br>AFRIKAANSE OPSOMMING: Gebruikers van kontantvloeistate verwag dat die inligting wat verskaf word van die
bedryfs- en investeringsaktiwiteite as 'n moontlike indikator van die ondergang van die
onderneming moet kan dien. Waardevermindering word tradisioneel as 'n
bedryfsaktiwiteit openbaar, terwyl die vervanging van vaste bates as 'n
investeringsaktiwiteit openbaar word. Ondernemings wat direkte kontantbetalings as
dividende en toekomstige uitbreiding openbaar sonder dat die vervanging van vaste bates
aangespreek word, skep 'n onrealistiese beeld van hul bedryfs- en investeringsaktiwiteite.
Algemeen aanvaarde rekeningkundige beginsels het die openbaarmakingsvereistes
beperk en spreek nie die skeiding tussen uitbreiding van bates en die vervanging daarvan
aan nie.
Hierdie mini-werkstuk ondersoek die impak van die openbaarmaking van
waardevermindering as 'n investeringsaktiwiteit en vervanging van vaste bates as 'n
bedryfsaktiwiteit.
Gebaseer op die bevindinge word daar aanbeveel dat die algemeen aanvaarde
rekeningkundige beginsels dit 'n vereiste maak dat die vervanging en uitbreiding van
vaste bates apart openbaar word. Verder word aanbeveel dat waardevermindering as 'n
investeringsaktiwiteit of vervanging van vaste bates as 'n bedryfsaktiwiteit in die
kontantvloeistaat openbaar word.
4
Mostafa, Wael. "An empirical investigation of the incremental information content of earnings, working capital from operations, and cash flow from operations affected by their extremity : new evidence for the UK." Thesis, Durham University, 2005. http://etheses.dur.ac.uk/1790/.
Full text
5
Zhai, Y. H. "Asset revaluation and future firm operating performance : evidence from New Zealand : a thesis submitted in partial fulfilment of the requirements for the degree of Master of Commerce and Management at Lincoln University /." Diss., Lincoln University, 2007. http://hdl.handle.net/10182/219.
Full textAbstract:
The regulatory framework of many countries allows the upward revaluation of assets. Previous studies on the association of asset revaluation and future performance in Australia (Barth and Clinch, 1998), U.K. (Aboody, Barth and Kasznik, 1999) and Hong Kong (Jaggi and Tsui, 2001) have shown that upward asset revaluations are positively associated with the firm’s operating performance, suggesting that asset revaluations are value relevant. This study extends the previous research by focusing on the New Zealand environment with recent data to examine the association of upward asset revaluation and future operating performance. There is no obvious evidence indicating that upward revaluations are associated with operating performance in New Zealand. Our market assessments show that current year asset revaluations are related to share prices and returns, but are not statistically significant.
6
Fernandes, Márcia Pereira. "Quais são as empresas da União Europeia que praticam um maior grau de alisamento de resultados : cotadas ou não cotadas?" Master's thesis, Instituto Superior de Economia e Gestão, 2015. http://hdl.handle.net/10400.5/11140.
Full textAbstract:
Mestrado em Contabilidade, Fiscalidade e Finanças Empresariais<br>O presente estudo pretende analisar o grau de alisamento das empresas europeias cotadas e não cotadas. A amostra incide sobre 4511 empresas pertencentes a 9 países europeus, entre o período de 2008 a 2014. As medidas utilizadas para se detetar o nível de alisamento de resultados foram as de Leuz, Nanda, & Wysocki (2003). Os resultados sugerem que as empresas não cotadas apresentam uma maior prática de alisamento de resultados do que as cotadas. Esta conclusão vai de encontro com a revisão de literatura, pois as empresas cotadas são mais monitorizadas e estão sujeitas a uma maior supervisão por parte dos meios de comunicação. Ao retirar-se o país com maior representatividade na amostra (Grã-Bretanha) e agrupando os países em dois grupos (Nórdicos e Anglo Saxónicos vs. Germânicos e Latinos), os resultados obtidos também indicam que, são as empresas não cotadas que alisam mais os seus resultados, confirmando os resultados principais do estudo.<br>This study aims to analyze the degree of income smoothing of listed and unlisted European firms. The sample covers about 4511 firms from nine European countries, between 2008 and 2014.The measures used to detect income smoothing level are from Leuz, Nanda, & Wysocki (2003). The results suggest that unlisted firms have a higher income smoothing practice, than listed firms. This achievement goes in line with the literature, because listed company are the most monitored and are subject to greater oversight by the media. By removing the country with the highest prevalence in the sample and grouping countries into two groups (Nordic and Anglo vs. Germanic and Latin) the results also indicate that there are the unlisted companies that smooth more their results.
7
Foster, Timothy. "From cash flows to water flows : an assessment of financial risks to rural water supply sustainability in sub-Saharan Africa." Thesis, University of Oxford, 2016. https://ora.ox.ac.uk/objects/uuid:bb4e0aeb-c5c4-40a5-bf9b-231c5afdf730.
Full textAbstract:
This research examines the collective action and financial dimensions of rural waterpoint sustainability in sub-Saharan Africa. Four interlinking papers empirically evaluate the nature and drivers of financial risks, and how they in turn impact the operational performance of community water supplies. The research is grounded in conceptual and theoretical frameworks pertaining to collective action and common-pool resource management, in particular Ostrom's social-ecological systems framework (Ostrom, 2007), Musgrave & Musgrave's economic good framework (Musgrave & Musgrave, 1973), and Marwell & Oliver's critical mass theory (Marwell & Oliver, 1993). The first paper analyses data extracted from national waterpoint inventories in Liberia, Sierra Leone, and Uganda. The remaining three papers draw on primary data from rural Kenya comprising 229 years' worth of water committee financial records, a census of 571 waterpoints, and a survey of 3,361 households. These data were collected during extensive field work campaigns in Kwale, Kenya. Quantitative analyses were carried out by way of advanced statistical techniques, including logistic regression, linear mixed (repeated measure) models, and generalised estimating equations. Results suggest collection of user fees is a significant determinant of waterpoint sustainability, alongside other institutional, technical, geographical and environmental variables. However, monthly payment arrangements are beset by non-payment and late payment, particularly if rainfall levels are high, group size is large, households are far away, and water is aggressive and unpalatable. Although monthly contribution levels remain relatively stable above a collective payment rate of 60%, there is little evidence of self-sustaining growth beyond this point, and revenue collection is prone to collapse below this collective payment threshold. In comparison, pay-as-you-fetch fees are associated with increased revenue and improved operational performance, but result in a higher proportion of households opting for an unimproved water source. If the Sustainable Development Goal of universal access to safe water supplies is to be achieved in rural sub-Saharan Africa, strategies are needed to strengthen revenue collection systems and bolster payment incentives. External support and professionalised service delivery models present potential pathways to advance these goals. Policymakers may also need to introduce carefully designed subsidies, or promote self-supply approaches that realign lifecycle costs with users' willingness-to-pay.
8
Park, Duri. "Accrual and Cash Flow Comparability: Evidence from Stock Analysts and Credit Rating Agencies." The Ohio State University, 2013. http://rave.ohiolink.edu/etdc/view?acc_num=osu1385895448.
Full text
9
WANG, Lin Yuan. "Do firms’ earnings reported under IFRS 3R reveal more about future earnings and cash flows? Evidence from the European Union." Digital Commons @ Lingnan University, 2014. https://commons.ln.edu.hk/acct_etd/18.
Full textAbstract:
Motivated by recent studies documenting inconsistent results regarding the benefits of adopting International Financial Reporting Standards (IFRS), the objective of this thesis is to examine the information value of firms’ earning reported focusing on IFRS 3 (Business Combination). IFRS 3 aims at providing systematic guidelines for acquirers of a business combination transaction to properly report identifiable assets and liabilities, to fairly measure goodwill and to disclose relevant information for investors’ evaluation. IFRS 3 was revised and became effective in July 2009. Opponents of the revised IFRS 3 (IFRS 3R) criticized the guidelines to have broadened the disconnection between current earnings and future cash flows and they argued against the widened implementation of fair value measurement by IFRS 3. This thesis covers European Union’s mandatory adoption of IFRS in 2005 along with the revision of IFRS 3 in 2009. The examination period is split into two time periods: Period 1 is from the mandatory adoption of IFRS to the eve of policy change, and Period 2 is from the policy change to the end of 2013. Sample in this study comprises of 374 firms involved in merger and acquisition (M&A) transactions in both time periods which results in 13,464 firm-quarterly observations drawn from 20 out of 28 European Union member countries.
This study finds the association between current earnings and future earnings as well as future cash flows has been weakened since the adoption of IFRS 3R which implies the information value of current earnings has receded. In addition, quarterly earnings reported under IFRS 3 appear to be more volatile after controlling for factors influencing earnings volatility such as size, economic shocks and managers’ income smoothing behavior. Moreover, this study suggests that earnings volatility has a negative effect on earnings persistence over the whole testing period. In addition, such effect has amplified since the introduction of IFRS 3R. Following Mishkin’s (1983) method of testing market efficiency, this study supports that capital market impounds attenuated degree of earnings volatility effect on earnings predictability since the application of IFRS 3R. These results should draw the attention of both standard setters and public users as the convergence to IFRS from domestic GAAP has been a globally debating topic. Thus, standard setters should balance the benefits such as improved relevance, reliability and comparability of financial reports and costs such as the information loss of earnings when making IFRS adoption decisions. Meanwhile, public users should use the financial statements with caution, especially when M&A transaction involves.
10
STRÖM, CHRISTIAN. "Adapting Value Stream Mapping to Circular Product Flows. : From Manufacturing to Equipment Rental." Thesis, KTH, Skolan för industriell teknik och management (ITM), 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-263156.
Full textAbstract:
The rise of the sharing economy is forcing industries to move from traditional take-make-waste economy towards circular ones (Schuttelaar & Partners, 2019). Along with the increasing influence of e-commerce, supply-chain collaboration and globalization has increased the pressure of warehouse operations and requires more efficient operations with the use of less resources thanever before (Frazelle, 2016). Lean is a concept that has gained attention as a means of doing morewith less, through reducing wastes and continuously improving, which has been successful within the manufacturing sector. The difficulties of translating this concept into non-repetitive environments has contributed to the low level of adoption within industries like construction. Where companies within construction equipment rental have an even greater challenge, dealing with circular product flows. Thus, making their warehousing operations inherently complex along with the large amounts of different products. The thesis has focused on analysing the warehouse operations flow of collective fall protectionproducts in the equipment rental industry, from customer order to customer return. This has been enabled by performing an adapted Value Stream Mapping method in a new setting for equipmentrental industries. Where Value Stream Mapping traditionally is applied in manufacturing to visually represents the actions that are required for a product to move through the production andinformation flows. The purpose of the study is to apply VSM beyond manufacturing and tosummarize the results in order to provide suggestions for improving the handling of non-serialized products within the equipment rental industry. A case company within the equipment rental industry has been used to meet the purpose of the study by testing and evaluating the proposed frame work. The findings have been followed up by performing a return handling study, conducted by equipment rental professionals, which has been subject to a statistical analysis. The findings from the VSM are used as a foundation for the return handling study, which serves as a means of verifying or dismissing them. These are then summarized in suggestions for improvements to the case company and suggestions for future actions. Among the findings are indications of longer return times for products that are not forewarned prior to returns, and increase processing rates for sorted returns. Furthermore three product types were more frequently requiring repairs, cleaning and scrapping compared to other products, suggesting that these requiremore time to process. The company is advised to work with standardizing processes for return handling throughout the organization within invoicing specifications and product storage. Suggestions for future research within the subject area is also presented.<br>Den ökande utbredningen av delningsekonomi tvingar industrier att gå från traditionella linjära affärsmodeller mot cirkulära (Schuttelaar & Partners, 2019). Utöver denna förändring så ökar även trycket på lagerverksamheter som ett resultat av det ökande inflytandet av e-handel, Supply-Chainsamarbete och globalisering som kräver effektivare verksamheter med användning av mindre resurser än någonsin förut (Frazelle, 2016). Lean är ett koncept som har uppmärksammats som en filosofi för att hantera dessa förändringar, genom att åstadkomma mer med mindre resurser och därmed minska slöseri och att sträva efter ständiga förbättringar, vilket har varit framgångsrikt inom tillverkningssektorn. Svårigheterna med att översätta detta koncept till icke-repetitiva miljöer har bidragit till den begränsade appliceringen av lean inom industrier som byggnadskonstruktion. Där företag inom uthyrning av byggnadsmaskiner och utrustning har en ännu större utmaning, då deras verksamhet bygger på cirkulära produktflöden. Vilket orsakar komplex lagerhantering av många olika produkter i stora mängder. Avhandlingen har fokuserat på att analysera lagerflödet av kollektiva fallskyddsmedel i uthyrningsbranschen, från kundorder till kundreturer. Detta har möjliggjorts genom att utföra en anpassad värdeflödeskartläggning i ett nytt sammanhang, nämligen för företag inom uthyrning av byggnadsmaskiner och utrustning. Där värdeflödeskartläggning vanligtvis används inom tillverkning för att visuellt representera de aktiviteter som krävs för att en produkt ska kunna flytta genom produktions- och informationsflödena. Syftet med studien är att tillämpa värdeflödeskartläggning utanför tillverkningssektorn och att sammanfatta resultaten i form av förslag på förbättringar av hanteringen av icke-serienumrerade produkter inom uthyrningsbranschen. Ett samarbete med ett fallföretag inom uthyrningsindustrin har genomgåtts för att uppfylla syftet med studien. Tillsammans med fallföretaget har det föreslagna ramarbetet testats och utvärderats. Resultaten har följts upp genom att genomföra en returhanteringsstudie, som utförs av verksamma inom lager hanteringen för kollektiva fallskyddsmedel, studiens resultat har sedan varit föremål för en statistisk analys. Upptäckterna från värdeflödeskartläggningen användes som grund för returhanteringsstudien, som agerat medel för att verifiera eller avfärda dem. Dessa har sedan sammanfattas i förslag till förbättringar till fallföretaget och förslag till framtida åtgärder. Bland resultaten finns indikationer på längre hanteringstider för returer som inte är förvarnade innan de blir återlämnade, samt minskade hanteringstider för sorterade returer. Dessutom krävde tre produkttyper ofta reparationer, rengöring och skrotning jämfört med andra produkter, vilket tyder på att dessa produkter är mer tidskrävande vid returer. Företaget rekommenderas att arbeta med standardiseringsprocesser för returhantering i hela organisationen, mer specifikt inom bestämmelser för fakturering och produktlagring. Förslag till framtida forskning inom ämnesområdet presenteras även.
Books on the topic "Cash flows from operations"
1
Lütolf-Carroll, Constance. From Innovation to Cash Flows. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2009. http://dx.doi.org/10.1002/9781118273166.
Full text
2
Board, Financial Accounting Standards, ed. Statement of cash flows: Net reporting of certain cash receipts and cash payments and classification of cash flows from hedging transactions. Norwalk, Conn: Financial Accounting Standards Board, 1989.
Find full text
3
Board, Financial Accounting Standards. Statement of cash flows: Net reporting of certain cash receipts and cash payments and classifaction of cash flows from hedging transactions : proposed statement of Financial Accounting Standards. Stanford, Conn: FASB, 1989.
Find full text
4
Manson, Stuart. A cash flow analysis of the operational gains from takeovers. London: Certified Accountants Educational Trust, 1994.
Find full text
5
Board, Financial Accounting Standards. Statement of cash flows: Net reporting of certain cash receipts and cash payments and classification of cash flows from hedging transactiosn : an amendment of FASB statement no.95. Norwalk,Cn: Financial Accounting Standards Board, 1989.
Find full text
6
1973-, Pirnes Antti, ed. From innovation to cash flows: Value creation by structuring high technology alliances. Hoboken, N.J: Wiley, 2009.
Find full text
7
Organisation for Economic Co-operation and Development, ed. Pensions, savings and capital flows: From ageing to emerging markets. Cheltenham, UK: Edward Elgar, 2000.
Find full text
8
Board, Financial Accounting Standards. Statement of cash flows: Exemption of certain enterprises and classifaction of cash flows from certain securities held for resale : an amendment of FASB statement no. 95 : proposed statement of Financial Accounting Standards. Stanford, Conn: FASB, 1988.
Find full text
9
Driessen, Joost. A new method to estimate risk and return of non-traded assets from cash flows: The case of private equity funds. Cambridge, MA: National Bureau of Economic Research, 2008.
Find full text
10
Tolf-Carroll, Constance, and Antti Pirnes. From Innovation to Cash Flows. Wiley & Sons, Incorporated, John, 2009.
Find full textBook chapters on the topic "Cash flows from operations"
1
Schoenmaker, Dirk, and Willem Schramade. "Issues and Payouts: Changes in Capital Structure." In Springer Texts in Business and Economics, 463–95. Cham: Springer International Publishing, 2023. http://dx.doi.org/10.1007/978-3-031-35009-2_16.
Full textAbstract:
AbstractCompanies can change the composition of their capital structure by adding (issuing) or reducing (paying out) types of funding. In issues, cash is raised from providers of capital and their claim is increased accordingly. Conversely, payouts refer to those situations in which cash is paid to providers of capital and the value of their claim is reduced accordingly. Both issues and payouts compete with alternative uses of corporate cash, such as investments and building cash reserves.The impact of environmental (E) and social (S) factors on financial issues and payouts is most obvious through their impact on business models and operations, which in turn affect risk, debt capacity, and cash flows, thereby affecting the degree to which companies can and want to payout cash or issue new capital. As for issues and payouts of E and S themselves, the question is if they exist at all. After all, issues and payouts concern changes in claims that involve cash transfers, but it is not clear what the equivalent of cash could be in E and S. Still, an integrated view on issues and payouts makes sense: given that E and S liabilities affect integrated leverage, they are likely to have implications for integrated payouts as well. The question then is: how to manage issues and payouts, financial in nature, when managing for long-term value? It calls for caution on payouts in the presence of significant liabilities on E or S.
2
Brand, Tom. "Appendix 2.2: Guidelines for Setting Up an Invention Disclosure System for Your Company." In From Innovation to Cash Flows, 1–3. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2011. http://dx.doi.org/10.1002/9781118273166.app1.
Full text
3
Brand, Tom. "Appendix 2.3: Sample Invention Disclosure Form." In From Innovation to Cash Flows, 1–2. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2011. http://dx.doi.org/10.1002/9781118273166.app2.
Full text
4
Indaimo, Anthony, Nadia Ignatius, and Gabriel Monzon-Cortarelli. "Appendix 9.1: Confidentiality Agreement." In From Innovation to Cash Flows, 1–7. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2011. http://dx.doi.org/10.1002/9781118273166.app7.
Full text
5
Hughes, Caroline, John Maycock, and Nicole Hirst. "Appendix 11.1: International Intellectual Property Treaties and Conventions." In From Innovation to Cash Flows, 1–3. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2011. http://dx.doi.org/10.1002/9781118273166.app8.
Full text
6
Hughes, Caroline, John Maycock, and Nicole Hirst. "Appendix 11.2: Comparison of Design Right and Registered Design." In From Innovation to Cash Flows, 1–3. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2011. http://dx.doi.org/10.1002/9781118273166.app9.
Full text
7
Indaimo, Anthony, and Nadia Ignatius. "Investment Agreements." In From Innovation to Cash Flows, 229–48. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2011. http://dx.doi.org/10.1002/9781118273166.ch10.
Full text
8
Hughes, Caroline, John Maycock, and Nicole Hirst. "The Intellectual Property Landscape." In From Innovation to Cash Flows, 249–71. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2011. http://dx.doi.org/10.1002/9781118273166.ch11.
Full text
9
Brand, Tom. "The Basics about Patents." In From Innovation to Cash Flows, 273–96. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2011. http://dx.doi.org/10.1002/9781118273166.ch12.
Full text
10
Brand, Tom. "General Patenting Strategies in High-Technology Industries." In From Innovation to Cash Flows, 297–313. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2011. http://dx.doi.org/10.1002/9781118273166.ch13.
Full textConference papers on the topic "Cash flows from operations"
1
Murro, Rocco. "CLIMATE CHANGE AND INVESTMENTS FOR URBAN RENOVATION: ASSESSING THE FINANCIAL SUSTAINABILITY WITH THE APPLICATION OF FUZZY LOGIC PRINCIPLES TO REAL ESTATE APPRAISAL." In 24th SGEM International Multidisciplinary Scientific GeoConference 2024, 419–26. STEF92 Technology, 2024. https://doi.org/10.5593/sgem2024/5.1/s21.54.
Full textAbstract:
Climate change requires significant measures to adapt existing cities to new requirements; extensive urban renewal actions are therefore necessary. In order to be financially sustainable, such investments are mainly based on real estate and market operations, also at long term. The current valuation practice would require to resort to appraisal methods based on actual, historical market data, also known as Revealed Preference Methods (RPMs), which allow to derive the preferences expressed by the actions of market. Because of the instability, complexity and uncertainty of real estate markets as they are today, the results obtained with the application of standard RPMs are often not fully reliable. The most advanced and current solutions to the above problems mainly focus on possibilistic models, based on fuzzy logic. Such models can account for the uncertainty in the input data and single out some estimated values that are associated with a certain likelihood of occurring or, alternatively, detecting a range of possible values. Such models represent a support to operate always within the range of the RPMs. They are instrumental to improving the quality of the input data and to describe the level of uncertainty. The paper proposes the application of fuzzy logic in valuation methods, considering another type of uncertainty from the one considered through the probability theory. After the framework of the issue and a brief description of the principles of the fuzzy logic theory, some proposals, at international level, concerning the application of fuzzy logic to real estate appraisal techniques (Sales Comparison Approach, Discounted Cash Flow Analysis and Multiple Linear Regressions) are described, analysed and critically discussed.
2
Carimalo, Fabien, Igor Fouché, Raphael Hauguel, Xavier Campaignolle, Thomas Chrétien, and Michel Meyer. "Flow Modeling to Optimize Wet Gas Pipeline Water Management." In CORROSION 2008, 1–16. NACE International, 2008. https://doi.org/10.5006/c2008-08137.
Full textAbstract:
Abstract In order to optimize wet gas pipeline water management (and subsequent corrosion issues), liquid water accumulation at low spots, slug or wavy liquid water/gas flows attributable to water draining from the reservoir or to water accumulation at low spots, must be assessed. This requires tools capable of predicting flows, either at the pipeline design stage, or during operation for the adjustment of operational parameters. This paper presents a flow modeling study, using a commercial code, for multiphase flow calculation, and dedicated to the prediction/assessment of liquid/gas flow regimes encountered in wet gas gathering lines. The flow models developed during this study have been validated against field measurements performed on french operator installations. Case studies illustrating the use of the commercial code for optimizing either wet gas pipeline design, or the inspection strategy of those lines are presented. This paper illustrates how flow modeling can be used, within the “Indirect Inspection” step, for prioritization of Direct examination, on the basis of both flow regimes and “relative time of wetness” concept.
3
Assagaf, Aminullah, Mohd Hassan Che Haat, Mohd Yusoff Yusliza, Jumadil Saputra, and Zikri Muhammad. "Examining the Effect of Operating Cash Flow on Financial Distress: An Evidence from Indonesian State-Owned Enterprises SOEs." In 11th Annual International Conference on Industrial Engineering and Operations Management. Michigan, USA: IEOM Society International, 2021. http://dx.doi.org/10.46254/an11.20210617.
Full text
4
BinZiad, Abdullah, Abdullah Al-Subaii, Saleh Alharthi, and Abdulmajeed Alotaibi. "COVID-19! Business as Usual in the Rigless Operations: A Case Study from Saudi Arabia." In International Petroleum Technology Conference. IPTC, 2022. http://dx.doi.org/10.2523/iptc-22077-ms.
Full textAbstract:
Abstract Last year, the oil and gas industry was hit with one of the biggest challenges in the history of the industry — COVID-19. This has been a pandemic no one imagined would cripple the whole world and threaten our very existence. It caused an imbalance to the oil supply and demand where the global oil market had more than it could use or store, which drove oil prices to a record low. Despite this, projects in development have to be completed to accommodate the future rise in demand that is expected to occur after the pandemic. This paper will showcase how the rigless operations in Saudi Arabia in the oil and gas fields managed to continue with their activities toward tackling this challenge by capitalizing on two main principles. The first principle was business continuity management; preparing a strategic and operational framework to actively increase resilience to prevent suspension of the rigless operations or services, and thereby fulfilling the industry demand and preventing a cash flow interruption to the stakeholders. The second principle was the risk management process (RMP); identifying, monitoring, and managing all risks related to COVID-19, which minimized, and in some cases eliminated, its impact on the rigless operations. Both principles were the main pillars to first preserve lives and second to assure business continuity, which resulted in the continuation of the rigless operation and the profitability under the COVID-19 challenge for the company. COVID-19 was a risk no one accounted for. It was a true test to business continuity management and the risk management process. The integration of both processes in the oil industry, and specifically in rigless operations for the first time due to this pandemic, was essential to overcome the COVID-19 crises in addition to tailoring specific steps to address this challenge. Therefore, the rigless operations continued with planned activities while preserving people's lives.
5
Basaka, Hussaini Aminu, and Aminu Uba Ringim. "Obvious and Salient Incentives and Opportunities for Deepening Midstream and Downstream Operations in Nigeria." In SPE Nigeria Annual International Conference and Exhibition. SPE, 2024. http://dx.doi.org/10.2118/221679-ms.
Full textAbstract:
Abstract The comparative advantage of abundant hydrocarbon resources enjoyed by Nigeria for economic development and as mainstay of government revenue has gradually eroded as the incremental capital output ratio (ICOR) continues to increase as the cost of extracting, transporting, and processing of petroleum liquids and natural gas to refined products for storage, domestic supply to local market and export has dwarfed revenues from operations. Incentives, exemptions from certain taxes, provisions for unbundling of business opportunities and activities from expansive implementation approach of the Petroleum Industry Act (PIA) 2021 has provided the required pivot for catalyzing growth. The onset of global mandates for curtailing growth of the fossil industry, changing dynamics of the fuels, petrochemicals, and commodities market, and efficiency gains from smart operating models must and are being harnessed to drive growth, and position Nigeria to embrace the midstream and downstream sector as the fulcrum for economic development. The outcome of these promptings in conjunction with the NMDPRA's regulatory support will engender transparency and accountability, create new markets for petroleum, realize cash flows from new business portfolios, sustain government revenues, and open doors for new investments.
6
Halámek, Petr, and Natálie Lacinová. "Finanční aspekty regionálních rozvojových projektů – Koupaliště a koupací biotopy." In XXVI. mezinárodní kolokvium o regionálních vědách. Brno: Masaryk University Press, 2023. http://dx.doi.org/10.5817/cz.muni.p280-0311-2023-8.
Full textAbstract:
The aim of the contribution is to verify the financial rentability of projects for the construction or modernization of public outdoor swimming pools. Verification of rentability is based on the identification of unit investment costs and the balance of operating cash-flows. The evaluation is processed for a set of 23 outdoor swimming pools in the South Moravian region. The least financially demanding solution appears to be the construction of swimming biotopes, which show the significantly lowest unit investment costs per unit of water area and the lowest operating costs. But also, the lowest unit income from entrance fees is related to this. Most swimming pools show a negative balance of operating cash-flow, a positive balance of operating cash-flow was identified only at 3 swimming pools. Even for these swimming pools, however, the payback period of invested investment funds significantly exceeds the reference period. Thus, all swimming pools are dependent on state aid in the investment phase, the majority also on operating subsidies.
7
La¨uferts, Ulrike, Charlotte Halbe, and Aliki van Heek. "Value-Creating Investment Strategies to Manage Risk From Structural Market Uncertainties: Switching and Compound Options in (V)HTR Technologies." In Fourth International Topical Meeting on High Temperature Reactor Technology. ASMEDC, 2008. http://dx.doi.org/10.1115/htr2008-58157.
Full textAbstract:
To measure the value of a technology investment under uncertainty with standard techniques like net present value (NPV) or return on investment (ROI) will often uncover the difficulty to present convincing business case. Projected cash flows are inefficient or the discount rate chosen to compensate for the risk is so high, that it is disagreeable to the investor’s requirements. Decision making and feasibility studies have to look beyond traditional analysis to reveal the strategic value of a technology investment. Here, a Real Option Analysis (ROA) offers a powerful alternative to standard discounted cash-flow (DCF) methodology by risk-adjusting the cash flow along the decision path rather than risk adjusting the discount rate. Within the GEN IV initiative attention is brought not only towards better sustainability, but also to broader industrial application and improved financing. Especially the HTR design is full of strategic optionalities: The high temperature output facilitates penetration into other non-electricity energy markets like industrial process heat applications and the hydrogen market. The flexibility to switch output in markets with multi-source uncertainties reduces downside risk and creates an additional value of over 50% with regard to the Net Present Value without flexibility. The supplement value of deploying a modular (V)HTR design adds over 100% to the project value using real option evaluation tools. Focus of this paper was to quantify the strategic value that comes along a) with the modular design; a design that offers managerial flexibility adapting a step-by-step investment strategy to the actual market demand and b) with the option to switch between two modes of operation, namely electricity and hydrogen production. We will demonstrate that the effect of uncertain electricity prices can be dampened down with a modular HTR design. By using a real option approach, we view the project as a series of compound options — each option depending on the exercise of those that preceded it. At each end of the design phase, the viability will be reviewed conditional on the operating spread at each time step. We quantify the value of being able to wait with the investment into a next block until market conditions are favourable and to be able to abandon one block if market conditions are disapproving. To derive the intrinsic value of this multi block HTR design, it will be compared with a reference investment of a full commitment light water reactor without any managerial flexibility. In another case, we raise the question to what extent product output diversification is a suitable strategy to cope with long term market uncertainty in electricity price. What is the value of a multi-potent technology that is able to produce output for energy markets others than the electricity market? To investigate this, we concentrate on The Netherlands, a country with an intense industrial demand in electricity and hydrogen.
8
Anuskiewicz, Robert J., and Thomas A. Hickerson. "An Operation and Maintenance Strategy to Maximize Performance of a 70-MW Combined-Cycle Power Plant." In ASME 1994 International Gas Turbine and Aeroengine Congress and Exposition. American Society of Mechanical Engineers, 1994. http://dx.doi.org/10.1115/94-gt-121.
Full textAbstract:
A 70-MW combined-cycle power plant was constructed in January 1989 at a manufacturing plant located in York, Pennsylvania. The purpose of the power plant was to provide the manufacturing plant with a reliable source of lower-cost process steam and electricity and to produce excess electricity for sale to the local utility company. This paper is an overview of the planning and implementation of the operation and maintenance (O&M) practices which have resulted in superior cash flow from plant operations. A primary element of the power plant project was to include the O&M needs in plant design, construction, commissioning, and start-up.
9
Babotan, Mark, Peter Juhasz, and Janos Szaz. "Investment, Production And Indebtedness In A Duopoly With Uncertain Demand." In 37th ECMS International Conference on Modelling and Simulation. ECMS, 2023. http://dx.doi.org/10.7148/2023-0093.
Full textAbstract:
The paper builds a dynamic and stochastic simulation model to analyse how players’ behaviour changes as the number of competitors increases in the market. Our major contribution is to parallelly use the classic terms of corporate finance and microeconomic models to calculate the necessary quantities for business valuation and the effect of competition on the market. Our general results show that, for several firms, the optimal leverage ratio increases with the number of firms. This is due to the declining cash flows from operations and, in parallel, to the relatively increasing importance of the tax shield effect arising from the capital structure. This paper highlights the importance of considering market structure in financial analysis and modelling. While a monopoly can shape the market individually, firms are constrained to a higher output than the socially optimal in the presence of a competitor. This essentially limits their freedom to make decisions about the capital structure.
10
"Analisis Strategi Proyek Reparasi Kapal Dengan Menggunakan Metode Analytical Hierarchy Process (AHP)." In Maritime Business Management Conference. Politeknik Perkapalan Negeri Surabaya, 2024. https://doi.org/10.33863/mbmc.v3i1.3247.
Full textAbstract:
The performance of ship repair projects at a shipyard company in East Java has not reached optimal levels, as evidenced by the inability to meet project completion targets. This study aims to analyze internal and external factors, formulate performance improvement strategies, and prioritize these strategies. The analysis identified 6 strengths, 6 weaknesses, 4 opportunities, and 6 threats. Based on SWOT analysis, 8 main strategies were identified. AHP analysis shows that the top priority strategy is implementing double cash. This is crucial as sudden additional work from the Owner Surveyor (OS) often disrupts planning and resource allocation. With double cash, the project team can efficiently handle additional tasks without disturbing the existing budget, address OS decision delays, and reduce disruptions to human resources and facilities, ensuring smooth operations and timely project completion. The second priority strategy is enhancing effective communication with OS to expedite decision-making and optimize resource allocation. The third priority is managing or evaluating customer payment terms to maintain stable cash flow, reduce financial risks, and avoid project delays.
Reports on the topic "Cash flows from operations"
1
Leece, A., and C. Jiang. A preliminary techno-economic assessment of lithium extraction from flowback and produced water from unconventional shale and tight hydrocarbon operations in Western Canada. Natural Resources Canada/CMSS/Information Management, 2023. http://dx.doi.org/10.4095/331879.
Full textAbstract:
In the path towards decarbonization, rechargeable lithium-ion batteries are critical for the widespread adoption of electric vehicles and renewable energy storage systems. To meet the growing demand for this mineral, various sources of lithium are being explored. This study evaluated the technical and economic feasibility of direct lithium extraction (DLE) from flowback and produced waters (FPW) of the Duvernay shale reservoir development near Fox Creek, Alberta and the Montney tight reservoir development in Northeast British Columbia using ion-exchange sorbents. Results indicate that lithium extraction from FPW using DLE technology is a viable option, with fluid pH, temperature, total suspended solids, and organic carbon affecting extraction efficiencies. In the assessment of Duvernay-based FPW fluids processed at a selected centralized facility, approximately 93 tonnes of lithium carbonate, or 105 tonnes of lithium hydroxide monohydrate could be produced annually, based on an average lithium content of 45.1 mg/L and a capacity of approximately 475,000 m3 per year. A discounted cash flow analysis determined the after-tax and royalty internal rate of return of 22% in the production of lithium carbonate (Li2CO3), and 38% in the production of lithium hydroxide monohydrate (LiOH·H2O) from the Duvernay development area. Comparatively, in the assessment of Montney brine fluids processed at a modelled centralized facility, approximately 117 tonnes of lithium carbonate or 134 tonnes of lithium hydroxide monohydrate could be produced annually, based on an average lithium content of 57.7 mg/L and a capacity of approximately 475,000 m3 per year. A discounted cash flow analysis determined the after-tax and royalty internal rate of return of 29% in the production of lithium carbonate and 48% in the production of lithium hydroxide monohydrate from the Dawson Creek Montney development area. These findings demonstrate the economic feasibility of extracting and refining lithium into battery-grade products from a novel source based on forecasted commodity prices and the development of a domestic battery supply chain system. Further investigation of DLE technology, a strategic resource sampling and analysis program, and investigation into the minimum scale of lithium extraction development are recommended.
2
Leff, Jonah. Tracing Illicit Weapon Flows in Conflict and Security Transitions: A Case for Managing Recovered Weapons in Somalia. UNIDIR, October 2020. http://dx.doi.org/10.37559/caap/20/wam/07.
Full textAbstract:
International and sub-regional instruments encourage or require States to appropriately manage and trace recovered weapons in order to identify their illicit sources, understand patterns of illicit arms flows, and address diversion resulting from poor controls over international transfers or national stockpiles. However, tracing weapons recovered in situations of armed conflict and security transitions is a challenging undertaking due to insecurity and capacity constraints. In the context of Somalia, the requirement for recording and tracing weapons recovered in security operations is reinforced by the arms embargo to aid the Security Council subsidiary bodies in investigating violations. Somalia’s experience highlights the range of challenges that can be encountered in this respect, but also offers lessons that have relevance and wider application to other sanctions regimes imposed in similar contexts.
3
Brownworth, Anders, Jon Durfee, Michael Junho Lee, and Antoine Martin. Regulating Decentralized Systems: Evidence from Sanctions on Tornado Cash. Federal Reserve Bank of New York, August 2024. http://dx.doi.org/10.59576/sr.1112.
Full textAbstract:
Blockchain-based systems are run by a decentralized network of participants and are designed to be censorship-resistant. We use sanctions imposed by the U.S. Department of Treasury on Tornado Cash (TC), a smart contract protocol, to study the impact and effectiveness of regulation in decentralized systems. We document an immediate and lasting impact on TC following the sanction announcement, measured by market reaction, transaction volume, and diversity of users. Still, net flows into TC contracts recover to and surpass pre-announcement levels for most pools, supporting viability of TC. Evidence on cooperation at the settlement layer is mixed: the aggregate share of non-cooperative blocks increases over time, but a shrinking number of actors process Tornado Cash transactions, indicating a fragility to the sustainability of censorship-resistance. Non-cooperation is not explained by tokenomics, and changes in perception around legal authority and clarity of regulation appears to be a key factor for whether to cooperate.
4
Driessen, Joost, Tse-Chun Lin, and Ludovic Phalippou. A New Method to Estimate Risk and Return of Non-Traded Assets from Cash Flows: The Case of Private Equity Funds. Cambridge, MA: National Bureau of Economic Research, June 2008. http://dx.doi.org/10.3386/w14144.
Full text
5
Wagner, Rodrigo. Mechanism for Market Valuation of State-Owned Enterprises without Privatization. Inter-American Development Bank, July 2017. http://dx.doi.org/10.18235/0007032.
Full textAbstract:
State-owned enterprises (SOEs), including state-owned banks, can be both systemically and politically important for many economies. While many of these firms have been privatized in recent decades, for various political or practical reasons many are likely to remain 100 percent state-owned, which prevents them from obtaining a market-based valuation. Having a market signal for the value of SOEs could be desirable because it could help: (i) inform the treasury of the net present value (NPV) of expected cash flows; (ii) impose some discipline on management; (iii) signal changes in capture by entrenched groups; and (iv) value discoveries and R&D that are slow to show up in cash flows. This paper presents a novel mechanism to create a market value for SOEs that cannot have publicly traded equity. It is based on the idea that parties, potentially independent from the SOE, can trade contingent financial claims for the future cash flows that an SOE pays to the government. Technically, it is a set of Arrow-Debreu securities that can mimic the SOE’s cash flows. The document discusses various ways to implement this principle, as well as the potential challenges and some answers to these challenges. Preliminary calculations show that issuing claims equivalent to 5 to 10 percent of salient Latin American SOEs could be sizeable to get analyst coverage and liquidity, without compromising state ownership of assets and decisions.
6
Chapman. PR-266-06203-R01 Development of a Turbocharger Booster System. Chantilly, Virginia: Pipeline Research Council International, Inc. (PRCI), January 2008. http://dx.doi.org/10.55274/r0010881.
Full textAbstract:
The natural gas transmission industry has used increased air flow technologies to constrain emissions from reciprocating engines to levels at or below those required by regulations. Typically, the engine is turbocharged or, in the case where a turbocharger already exists on an engine, the turbocharger is �upgraded� to increase the air flow rate through the engine. Oftentimes, the physics of the system and the environmental conditions in which these engine systems operate decrease operating flexibility. This project describes a method to boost the energy to the turbocharger to obtain additional airflow to the engine.
7
Moss, Robb, Tristan Gebhart, David Frost, and Christian Ledezma. Flow-Failure Case History of the Las Palmas, Chile, Tailings Dam. Pacific Earthquake Engineering Research Center, University of California, Berkeley, CA, January 2019. http://dx.doi.org/10.55461/gvif2980.
Full textAbstract:
This report documents the flow failure of the Las Palmas tailings dam that was induced by the 27 February 2010 Maule Chile M8.8 earthquake. The Las Palmas site is located in Central Chile in Region VII near the town of Talca. Construction of the tailings dam occurred between 1998 as part of a gold mining operation and was no longer in active use. The ground shaking from the earthquake induced liquefaction of the saturated tailings material and resulted in a flow failure that ran out upwards of 350 m, flowing downslope in two directions. This report is broken into three sections: A summary of the construction and flow failure of the Las Palmas tailings dam; Details on the field investigations at the site, including the 2010 GEER reconnaissance, 2011 litigation support [DICTUC 2012], and the recent PEER–NGL-funded 2017 investigation; and Back-analysis of the flow failure by Gebhart [2016] to estimate the residual strength. The goal of this work is to provide a “high-quality” flow-failure case history to augment the existing database. The existing database is composed of roughly thirty case histories of varying quality (e.g., Weber et al. [2015] and Kramer and Wang [2015]). Herein, the term “high-quality” means that the in situ measurements were made in a controlled and repeatable manner, and that the back-analysis of the residual strength was performed considering static and dynamic effects of the slide mass. The results from this research indicate that the median back-analyzed residual strength of the liquefied material is ~8.3 kPa (~173 psf) at a pre-earthquake vertical effective stress of 2 atm (~200 kpa or 4000 psf), which is correlated to a median SPT blow count of N1,60~2.5, a median CPT tip resistance of qc1~1.3 MPa, and a median shear-wave velocity of VS1~172 m/sec. The back analyzed residual strength has a nominal coefficient of variation of 5.5% determined using a sensitivity analysis.
8
Lacy, Katherine, Katherine Lim, David J. Williams, and Christine Whitt. Nonfamily farm operations and the households that operate them. [Washington, D.C.]: U.S. Department of Agriculture, Economic Research Service, March 2025. https://doi.org/10.32747/2025.9015819.ers.
Full textAbstract:
Nonfamily farms (where no producer, household, or extended family owns at least 50 percent of the operation) constitute about 2 percent of total U.S. farms from 2018 to 2022. This report explores nonfamily farms and the households of their principal producers by farm size combining data collected from the annual Agricultural Resource Management Survey from 2018 to 2022. Statistics for nonfamily farms are compared with equivalently sized family farms. Findings show that 70 percent of all nonfamily farms were considered small, with less than $350,000 in gross cash farm income. Nonfamily farms accounted for 13.4 percent of the value of production from 2018 to 2022 (combined), but much of that production came from large-scale producers. Small nonfamily farms were less financially vulnerable compared with small family farms. Principal producer households of nonfamily farms had lower wealth, income, and debt compared with family farm principal producer households.--
9
Melad, Kris Ann. From Complaints to Opportunities: Analyzing Grievance Trends and Responsiveness in the 4Ps. Philippine Institute for Development Studies, December 2023. http://dx.doi.org/10.62986/dp2023.25.
Full textAbstract:
The 4Ps grievance redress system (GRS) is designed to facilitate due process in resolving the concerns and complaints about the program of beneficiary households, program stakeholders, and the general public. As with other social programs globally, the 4Ps GRS serves as a social accountability measure in response to risks of error, fraud, corruption, and leakages due to the intensive requirements and complexity of its operations. This study investigates the 4Ps GRS by analyzing grievance case data from 2010 to 2022. Key patterns and challenges emerged, with a notable increase in grievance volume following procedural guideline upgrades and calamitous events, while cases declined due to malfunctioning Management Information Systems (MIS). Payment-related issues topped grievances in terms of volume, reflecting challenges in cash transfer distribution as expected since the payment of grants is a key feature of a conditional cash transfer. In-person modes dominated grievance filing, emphasizing the importance of direct interaction and capacity building of staff to manage grievances effectively. Grievance resolution rates were generally high, but a decline in 2021-2022 highlighted a need to review procedures. Regression analysis indicated factors influencing timely resolution, including mode of submission and regional disparities. Interviews from previous studies revealed limited beneficiary awareness, cases of delayed resolutions, and a need for better access to case updates. Recommendations include strengthening data management, improving staff capabilities, promoting beneficiary awareness, and implementing regular evaluation and monitoring. These findings underscore the necessity of targeted approaches for grievance resolution in the 4Ps program.
10
Alexander, Chris, and Atul Ganpatye. PR-652-203802-R01 Computed Tomography for the Development of Standards for Anomaly Detection-Characterization. Chantilly, Virginia: Pipeline Research Council International, Inc. (PRCI), December 2022. http://dx.doi.org/10.55274/r0012246.
Full textAbstract:
This report documents the testing and inspection efforts undertaken to evaluate the capabilities and limitations of X-Ray Computed Tomography (XRCT) technology from the perspective of detection and quantification of flaws in pipelines. The fundamental motivation behind this project is to leverage the capabilities of the XRCT technology for highly accurate detection and characterization of flaws in pipelines. The accurate sizing and characterization of flaws/cracks in pipelines is of great consequence in providing effective and efficient operational and repair decisions in any integrity management program. As is the case with any emerging technology, comprehensive validation is needed before the technology can be considered mature enough to be effectively deployed by operators in the real-world or be used in the development of reference standards. This report discusses a validation approach and compares the XRCT results with those obtained from conventional NDE, and sectioning and microscopy, for synthetic and real-world features. Results are discussed in the context of the development of reference standards using synthetic flaws. The discussion provided in this document will be valuable for operators in understanding applicability, gaps, and future direction for the XRCT technology in the context of accurate flaw detection and characterization in pipelines. Results discussed in the report show that XRCT has the potential to enable the pipeline industry to establish a set of reference standards that can be used for a wide range of purposes, including technology development and qualification, personnel training and competency testing for inspection of flaws in pipelines. Once established as a proxy for "truth", XRCT will significantly minimize the need for frequent destructive testing for the generation of validation data further enabling the use in the development of reference standards. Within the purview of the work scope completed in this project, XRCT showed excellent results with synthetic features confirming that the technology (along with the process of generating synthetic features) is ready to be used in the development of reference standards using synthetic features. This work was funded in part, under the Department of Transportation, Pipeline and Hazardous Materials Safety Administration. The views and conclusions contained in this document are those of the authors and should not be interpreted as representing the official policies, either expressed or implied, of the Pipeline and Hazardous Materials Safety Administration, the Department of Transportation, or the U.S. Government.