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Real Options and Discounted Cash Flow Analysis to Assess Strategic Investment Projects

.1080/00137910008967534 Pivorienė, A. (2015). Flexibility valuation under uncertain economic conditions. Procedia - Social and Behavioral Sciences, 213, 436-441. https://doi.org/10.1016/j.sbspro.2015.11.563 Pless, J., Arent, D. J., Logan, J., Cochran, J., & Zinaman, O. (2016). Quantifying the value of investing in distributed natural gas and renewable electricity systems as complements: Applications of discounted cash flow and real options analysis with stochastic inputs. Energy Policy, 97, 378-390. https://doi.org/10.1016/j.enpol.2016.07.002 Regan, C. M., Bryan

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The seasonal nature of tourist flows in relation to meteorological conditions as illustrated by the case of Zachodniopomorskie Voivodeship

Abstract

The analysis is based on the materials published by the Statistical Office in Szczecin for 2000-14, presented on a monthly basis, concerning the total number of tourists (including foreign tourists) and the overnight stays. The distribution of the number of tourists and their accommodation per month and season was correlated with mean monthly values for air temperature, cloudiness and wind speed. Meteorological data for the period 2000-14, as averaged for the whole voivodeship, was obtained from four IMGW stations (Świnoujście, Koszalin, Szczecin and Szczecinek). Statistical analysis was conducted and time trends of the number of tourists and overnight stays were identified for individual months with the use of linear and polynomial regression. The seasonal nature of tourist flows was assessed by the number of tourists and accommodation provided for tourists in summer compared to winter, and spring to autumn. Air temperature and cloudiness were found to have the greatest effect on the uneven distribution of tourist numbers across a year. Each year, approximately 1.7 million tourists visit Zachodniopomorskie Voivodeship, 1.1 million of which (i.e. 66%) stay on the coast.

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Patterns of Patient Flow to Obafemi Awolowo University Teaching Hospital Complex’s Cancer Treatment Centre, Ile-Ife, Osun State, Nigeria

Research, Abuja. pp. 271–283. Babatimehin, O., Ayanlade, A., Babatimehin, M., and Yusuf, J.O., 2011: Geo-Political Patterns of Healthcare Facilities in Kogi State, Nigeria. In: The Open Geography Journal Vol. 4. pp. 141–147. Bentham Science Publishers, UAE. DOI: 10.2174/1874923201104010141. Babatimehin, O. and Ayeni, O.O., 2012: Geographical Analysis of Location and Patterns of Flow to HIV/AIDS Response Sites in Selected States of Southwest. In: Akinlo A., et al. (eds.) Challenges of Socio-economic Development in Nigeria at 50: Issues and Policy Options

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Valuation Schools and the Evolution of the Income Approach. An Evaluation of Change Trends

Abstract

The income approach is the subject of debates conducted by academics and practitioners as one of the most controversial approaches in valuation practice. It is also somewhat differently understood by the three historically shaped valuation schools (US, British and German). This article compares the main assumptions underpinning the income approach’s investment method between the three schools in order to: 1) determine why the assumptions change and in what direction; 2) assess the advantages and disadvantages of explicit cash flows; and 3) evaluate the advisability of incorporating explicit cash flows into Polish valuation methodology. A thesis is formulated that, in Poland, the investment method should use implicit cash flows for estimating the market value of properties. There is a need to include explicit cash flow in university programs, but their use should be limited to valuations undertaken to determine the investment value of a property or the market value of portfolio properties, as well as valuations carried out for the purposes of financial reporting as required by EU legislation (MSSF 13 and MSR 40).

The article was prepared based on the review and analysis of the relevant literature.

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The Impact of Polish-German Trade Flows on CO2 Emissions

Abstract

This study analyses the embodied carbon in the trade flows between Poland and Germany. The calculations are based on data from Eurostat and OECD for 2008. The study uses input-output analysis, which allows the assignment of responsibility to individual flows for generating specific amounts of emissions in the economy. It demonstrates that Polish exports to Germany contain significantly more embodied carbon than do imports from Germany, despite the fact that the value of imports is higher. Moreover, it is found that Polish-German trade flows were responsible for more CO2 emissions that Lithuania and Latvia emitted together in 2008.

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The Determinants of Capital Structure: Evidence from GCC and UK Real Estate Sectors

, The determinants of capital structure: Evidence from China , China Economic Review, no. 17(1), pp. 14-36. J ensen M. C., 1986, Agency cost of free cash flow, corporate finance, and takeovers. Corporate Finance, and Takeovers , American Economic Review, no. 76(2). K ashefi -P our E., L asfer M., C arapeto M., 2010, The Determinants of Capital Structure across Firms’ Sizes: The UK Main and AIM Markets Evidence . K ayhan A., T itman S., 2007, Firms’ histories and their capital structures , Journal of financial Economics, no. 83(1), pp. 1

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Application of Contemporary Equated Yield and Dcf Explicit Growth Methods in the Valuation of Over-Rented Properties in a Recessionary Period: A Case Study of Nigeria

Investment & Finance, 33(4), pp. 408-414, French N., 2013, Reversionary Freehold Valuations: Over‐rented Cash Flows by Spreadsheet, Journal of Property Investment & Finance, 31(3), pp. 298-306, Ifediora G.S.A., 1993, Appraisal Framework, 1st ed. Enugu, Nigeria: Iwuba Ifediora Associates, Igboko N.P., 1992, Research Project on Valuation Methods in Nigeria with Special Reference to Years Purchase, Research report for the Nigerian Institution of Estate Surveyors and Valuers 1-43, IVSC, 2017, International

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The Externalities of Enterprises’ Innovative Activity – An Input-Output Approach

th International Conference on Input-Output Techniques, 21–25.08.2000, Macerata: www.iioa.org/conferences/13th/ files/Dietzenbacher&LosR&DMults.pdf. Dietzenbacher, E. & Los B. (2002). Externalities of R&D Expenditures. Economic Systems Research , 14 (4): 407–425. Düring, A., Schnabel, C. (2000). Imputed Interindustry Technology Flows: A Comparative SMFA Analysis. Economic Systems Research , 12 (3): 363–375. Dworak, E. (2012). Gospodarka oparta na wiedzy w Polsce. Ocena, uwarunkowania, perspektywy , Łódź: Wydawnictwo Uniwersytetu Łódzkiego. Engelbrecht, H

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Performance Evaluation of Stocks’ Valuation Models at MSE

. 16. Jing, L; Doron, N & Jacob, T. (2002, Vol 40 No.1). Equity Valuation using Multiplies. Journal of Accounting Research, 135-174. 17. Kaplan, S.N & Ruback, R.S. (1995). The Valuation of Cash Flow Forecasts: En Empirical Analysis. The Journal of Finance, 1059-93. https://doi.org/10.1111/j.1540-6261.1995.tb04050.x 18. Liu, J. D.Nissim, and J.Thomas. (2002). Equity Valuation Using Multilplies. Journal of Accounting Research. Vol 40: 135-172. https://doi.org/10.1111/1475-679X.00042 19. Lie, E., H.J. Lie. (2002

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Offshoring in Business Services Sector Over the Business Cycle: A Case of Growth of the International Cooperation

., Haiss, P., Steiner, K. (2006). Foreign direct investment in the financial sector and economic growth in Central and Eastern Europe: The crucial role of the efficiency channel, Emerging Markets Review , pp. 300-319. Carreira, C., Teixeira, P. (2007). Internal and External Restructuring over the Cycle: A Firm-Based Analysis of Gross Flows and Productivity Growth in Portugal, Grupo de Estudos Monetários e Financeiros , No. 1. Ouyang, M. (2005). The Scarring Effect of Recessions , Working paper No. 050609, Irvine

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