相关论文: The Validity of Company Valuation Using Discounted…

The valuation process that economic agents undergo for investments with uncertain payoff typically depends on their statistical views on possible future outcomes, their attitudes toward risk, and, of course, the payoff structure itself.…

The present paper provides the basis for a novel financial asset pricing model that could avoid the shortcomings of, or even completely replace the traditional DCF model. The model is based on Brownian motion logic and expected future cash…

Evaluation metrics are an essential part of a ranking system, and in the past many evaluation metrics have been proposed in information retrieval and Web search. Discounted Cumulated Gains (DCG) has emerged as one of the evaluation metrics…

A recursive free cash flow model (FCFF) is proposed to determine the corporate value of a company in an efficient market in which new market and company-specific information is modelled by additive white noise. The stochastic equations of…

The real options approach is now considered an effective alternative to the corporate DCF model for a feasibility study. The current paper offers a practical methodology employing binomial trees and real options techniques for evaluating…

The article describes various aspects of mathematical modeling of fluid flows, both in general and with reference to hydraulic machinery. The article reviews historical development of corresponding methods of mathematical modeling.…

Discounted algorithms often encounter evaluation errors due to their reliance on short-term estimations, which can impede their efficacy in addressing simple, short-term tasks and impose undesired temporal discounts (\(\gamma\)).…

We present an approach to market-consistent multi-period valuation of insurance liability cash flows based on a two-stage valuation procedure. First, a portfolio of traded financial instrument aimed at replicating the liability cash flow is…

Evaluating the financial performance of manufacturing firms requires consideration of both the time value of money and the relative importance of multiple decision criteria. Conventional approaches relying solely on deterministic…

Consider two similar drug companies with access to similar chemical libraries and synthesis methods, who each run an R&D program. The programs have the same number of stages, which each take the same amount of time, with the same costs,…

Data valuation is a class of techniques for quantitatively assessing the value of data for applications like pricing in data marketplaces. Existing data valuation methods define a value for a discrete dataset. However, in many use cases,…

Many still rightly wonder whether accounting numbers affect business value. Basic questions are why? and how? I aim at promoting an objective choice on how optimizing the most suitable valuation methods under a value-based management…

Normalizing flows model a complex target distribution in terms of a bijective transform operating on a simple base distribution. As such, they enable tractable computation of a number of important statistical quantities, particularly…

Determining the number of factors is essential to factor analysis. In this paper, we propose {an efficient cross validation (CV)} method to determine the number of factors in approximate factor models. The method applies CV twice, first…

Generally accepted depreciation methods do not compute the intrinsic value of an asset, as they do not factor for the Time Value of Money, a key principle within financial theory. This is disadvantageous, as knowing the intrinsic value of…

We study market-consistent valuation of liability cash flows motivated by current regulatory frameworks for the insurance industry. Building on the theory on multiple-prior optimal stopping we propose a valuation functional with sound…

Chance-constrained optimization has emerged as a promising framework for managing uncertainties in power systems. This work advances its application to the DC Optimal Power Flow (DC-OPF) model, developing a novel approach to uncertainty…

Performing company valuations within the domain of biotechnology, pharmacy and medical technology is a challenging task, especially when considering the unique set of risks biotech start-ups face when entering new markets. Companies…

We derive valuations of a portfolio of financial instruments from a securities lending perspective, under different assumptions, and show a weighting scheme that converges to the true valuation. We illustrate conditions under which our…

Computational Fluid Dynamics (CFD) simulations are a very important tool for many industrial applications, such as aerodynamic optimization of engineering designs like cars shapes, airplanes parts etc. The output of such simulations, in…