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Guidelines for the preparation of budgets in not-for-profit organizations
Malki, Elli - 2010
In the absence of clear and acceptable measures for outcomes, the budget is probably the most important managerial tool for nonprofits. Nevertheless many nonprofits operate without a budget at all, or with a limited version of a budget that is used solely for fundraising with no managerial role....
Persistent link: https://www.econbiz.de/10015223060
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The non-economic outcomes of social entrepreneurship in Luxembourg
Sarracino, Francesco; Gosset, Andrea - 2015
We provide a first assessment of the ability of social enterprises to meet their non economic goals. The study takes advantage of unique data on social enterprises and well-being available for Luxembourg. Results suggest that social enterprises contribute to well-being and alleviate the...
Persistent link: https://www.econbiz.de/10015250732
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Splitting Up Value: A Critical Review of Residual Income Theories
Magni, Carlo Alberto - 2008
and calculation of intrinsic values. A most recent theory, the systemic-value-added approach (also named lost …-capital paradigm), provides a dierent denition of residual income, consistent with arbitrage theory. En- folded in Keynes's (1936 …) notion of user cost and forerun by Pressacco and Stucchi (1997), the theory has been formally introduced in Magni (2000a …
Persistent link: https://www.econbiz.de/10015215738
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Axiomatization of residual income and generation of financial securities
Ghiselli Ricci, Roberto; Magni, Carlo Alberto - 2009
profit and the investor's excess wealth, a well-specified theory of residual income is generated: one is the standard theory …, which historically traces back to Hamilton (1777) and Marshall (1890) and is a deep-rooted notion in economic theory …), the theory is enfolded in Keynes's (1936) notion of user cost and is naturally generated by an arbitrage-theory …
Persistent link: https://www.econbiz.de/10015216394
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Potential dividends versus actual cash flows in firm valuation
Magni, Carlo Alberto; Vélez-Pareja, Ignacio - 2009
Practitioners and some academics use potential dividends rather than actual payments to shareholders for valuing a firm’s equity. We underline the differences between the two methods and present some arguments supporting the thesis that firm valuation with potential dividends overstate the...
Persistent link: https://www.econbiz.de/10015216440
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Residual income and value creation: An investigation into the lost-capital paradigm
Magni, Carlo Alberto - 2007
in such different fields as economic theory, management accounting and corporate finance, are considered: O'Hanlon and …
Persistent link: https://www.econbiz.de/10015216472
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Potential dividends versus actual cash flows in firm valuation
Magni, Carlo Alberto; Vélez-Pareja, Ignacio - 2009
Practitioners and some academics use potential dividends rather than actual payments to shareholders for valuing a firm’s equity. We underline the differences between the two methods and present some arguments supporting the thesis that firm valuation with potential dividends overstate the...
Persistent link: https://www.econbiz.de/10015216523
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Firm Value and the mis-use of the CAPM for valuation and decision making
Magni, Carlo Alberto - 2005
The use of CAPM‐based disequilibrium betas and Net Present Value (NPV) for investment decisions and valuations is widespread in finance. Actually, its use is logically deducted from the CAPM assumptions. This paper deals with decisions about purchase of a firm and the related issue of firm...
Persistent link: https://www.econbiz.de/10015217139
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How Decisions on Investing in Russia are made by German Firms?
Kotov, Denis - 2009
In the paper we have clarified how the German multinational (MNE) and small and medium sized enterprises (SME) appraise and perform their foreign direct investments in Russia. Our analysis was supported by a survey of German firms running their business in Russia which was made in the period...
Persistent link: https://www.econbiz.de/10015217652
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Splitting Up Value: A Critical Review of Residual Income Theories
Carlo Alberto, Magni - 2008
and calculation of intrinsic values. A most recent theory, the systemic-value-added approach (also named lost …-capital paradigm), provides a dierent denition of residual income, consistent with arbitrage theory. En- folded in Keynes's (1936 …) notion of user cost and forerun by Pressacco and Stucchi (1997), the theory has been formally introduced in Magni (2000a …
Persistent link: https://www.econbiz.de/10015217756