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Evaluating the Capacity of Standard Investment Appraisal Methods
Akalu, Mehari Mekonnen - Tinbergen Instituut - 2002
The survey findings indicate the existence of gap between theory and practice of capital budgeting. Standard appraisal methods have shown a wider project value discrepancy, which is beyond and above the contingency limit. In addition, the research has found the growing trend in the use of value...
Persistent link: https://www.econbiz.de/10011256495
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A Monte Carlo Comparison between the Free Cash Flow and Discounted Cash Flow Approaches
Akalu, Mehari Mekonnen; Turner, Rodney - Tinbergen Instituut - 2002
One of the debates in the capital budgeting model selection is between the free cash flow and DCF methods. In this paper an attempt is made to compare SVA against NPV model based on Monte Carlo simulations. Accordingly, NPV is found less sensitive to value driver variations and has got higher...
Persistent link: https://www.econbiz.de/10011257488
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The Spatial-Institutional Architecture of Firms’ Innovative Behaviour
Vaz, Eric de Noronha; Vaz, Teresa de Noronha; Nijkamp, Peter - Tinbergen Instituut - 2013
In recent decades there have been an enormous number of studies about innovation systems, partly inspired by a great … development strategies. Despite different perspectives, most studies highlight knowledge creation and innovation as the major … drivers of change and growth. This consensus disappears, however, as soon as the complexity of innovation and knowledge are …
Persistent link: https://www.econbiz.de/10011256132
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How to select Instruments supporting R&D and Innovation by Industry
Heide, Marcel J.L. de; Kothiyal, Amit - Tinbergen Instituut - 2011
We present a theoretical framework which allows for the comparison of the effectiveness of tax measures, loans and funding, in supporting industry-oriented research. We estimate for each of the instruments the exact contribution required by a firm to decide on investing in R&D, given the costs...
Persistent link: https://www.econbiz.de/10011257653