This article deals with approximation of empirical distribution to standard normal distribution using Johnson transformation. This transformation enables us to approximate wide spectrum of continuous distributions with a normal distribution. The estimation of parameters of transformation...

Exploration and Production (E&P) project costs within the oil industry are continuously increasing reflecting a reality of more harsh environments, remote locations with minimal existing infrastructure and cost increases for materials and skilled resources. The significant capital expenditures...

M.S.

Investment decisions have to be made when there is little information about the scope of the project. New projects have to depend on historical evidences and experiences gained from previous projects of similar nature. However, such projects lack historical data and even if such data are...

The statistical variance of total project cost is usually estimated by means of Monte Carlo simulation on the assumption that exact analytic approaches are too difficult. This paper tests that assumption and shows that, contrary to expectations, the analytic solution is relatively...

Mergers and acquisitions have been demonstrated to create synergies, but not in all cases.Current research reveals that where synergies exist, these seem to accrue to the shareholdersof the selling companies. Given the limitations of our qualitative research design, we find that itis important...

Observers of financial markets have long noted that asset prices are very volatileand commonly exhibit jumps (price spikes). Thus, the assumption of a continuousprocess for asset price behavior is often violated in practice. Although empiricalstudies have found that the impact of such jumps is...

Master of Science

Master of Science

Discounted cash flow (DCF) is the most accepted approach for company valuation. It is well grounded in theory and practice. However, the DCF approach, which is commonly used for traditional companies valuation, presents a number of serious weaknesses within the Internet companies’ context. One...