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The Relative Value Theory predicts equilibrium prices in a world in which time value of money is unique, and investors are risk-indifferent and only care about maximizing cumulative returns. This paper shows that RVT’s equilibrium prices determine intrinsic expected returns that satisfy the...
Persistent link: https://www.econbiz.de/10005134946
provides a theoretical development of the concept of 'recoverable cost' as the measurement property observed in (underlying … 'recoverable cost' is the observed measurement property underlying financial accounting measurement. This analysis draws upon: (a … theory. It establishes recoverable cost as the measurement property in financial accounting and leads to the conclusion that …
Persistent link: https://www.econbiz.de/10005408116
Capital budgeting research has traditionally focused on ever improving the methods used for evaluating projects. Since it seems futile to use sophisticated evaluation techniques if their input data – that is, estimates of cash inflows and outflows – are of inferior quality, it is justifiable...
Persistent link: https://www.econbiz.de/10005413083
If bigger objects go into a jar, then there will be space to fill it with smaller objects in sequence. If the order of the objects are reversed, then it ends in filling it at the starting point. Happiness in life is similar to this. Fill high priority needs in the life, and smaller needs can be...
Persistent link: https://www.econbiz.de/10005408439
OIL AS AN ENERGY PROPELLER, IS THE LARGEST INTERNATIONALLY TRADED COMMODITY THAT SHOWS HIGHLY VISIBLE INTERPLAY OF POLITICS AND ECONOMICS IN THE DETERMINATION OF ITS INVESTMENT, PRODUCTION, TRADE AND PRICING POLICIES. THIS UNIQUENESS, NO DOUBT DEMANDS A WELL ARTICULATED OIL POLICY FOR AN OIL...
Persistent link: https://www.econbiz.de/10005412462
or reduce many of the coercive elements of government. …
Persistent link: https://www.econbiz.de/10005412496
standard policy game between the government and a monopoly union. We stress the shortcomings of the traditional way used to … profitable to cooperate with the government, unless side-payments are considered. The study of this issue is however beyond the …
Persistent link: https://www.econbiz.de/10005412619
MAKERS AND GOVERNMENT TO CHECK THE OBSERVED UGLY SITUATION. …
Persistent link: https://www.econbiz.de/10005412927
Presents a complete and detailed constitutional framework applying the rational self-interest model and market mechanisms to intra and inter- governmental behaviour and collective decisions. In particular, the paper presents an enabling mechanism for the creation, adjustment and dissolution of...
Persistent link: https://www.econbiz.de/10005076593
In this paper we consider a standard policy game between the Government and a union. In such a framework, we first …. In particular, we show that a micro-founded union will never find it profitable to co- operate with the Government …
Persistent link: https://www.econbiz.de/10005076716