scholarly journals Product Upgradability for Satisfying Future Performance, Low Price and Environmental Loads, and Manufacturer Profitability Throughout the Product Lifecycle

Procedia CIRP ◽  
2016 ◽  
Vol 48 ◽  
pp. 40-44 ◽  
Author(s):  
Masato Inoue ◽  
Shuho Yamada ◽  
Tetsuo Yamada ◽  
Stefan Bracke
Author(s):  
Masataka Yoshimura ◽  
Yoshiyuki Chujo ◽  
Kenji Doi ◽  
Shinji Nishiwaki ◽  
Kazuhiro Izui

2018 ◽  
Vol 51 (4-6) ◽  
pp. 239-257
Author(s):  
Sha LIU ◽  
Xuxin JU ◽  
Feng YANG ◽  
Shaochun MA ◽  
Shunxi WANG

2019 ◽  
Vol 95 (3) ◽  
pp. 145-175 ◽  
Author(s):  
Michael J. Dambra ◽  
Matthew Gustafson ◽  
Phillip J. Quinn

ABSTRACT We examine the prevalence and determinants of CEOs' use of tax-advantaged trusts prior to their firm's IPO. Twenty-three percent of CEOs use tax-advantaged pre-IPO trusts, and share transfers into tax-advantaged trusts are positively associated with CEO equity wealth, estate taxes, and dynastic preferences. We project that pre-IPO trust use increases CEOs' dynastic wealth by approximately $830,000, on average. We next examine a simple model's prediction that trust use will be positively related to IPO-period stock price appreciation. We find that trust use is associated with 12 percent higher one-year post-IPO returns, but is not significantly related to the IPO's valuation, filing price revision, or underpricing. This evidence is consistent with CEOs' personal finance decisions prior to the IPO containing value-relevant information that is not immediately incorporated into market prices. JEL Classifications: D14; G12; G32; M21; M41. Data Availability: Data are available from the public sources cited in the text.


2020 ◽  
Author(s):  
Kai Wai Hui ◽  
Alfred Z. Liu ◽  
Yao Zhang

This study documents a stock return premium for meeting or beating management's own earnings guidance (MBMG) that is separate and distinct from the premium for meeting or beating analysts' earnings forecasts (MBAF) documented in prior literature. Cross-sectional analyses reveal that the MBMG premium relative to the MBAF premium increases when management guidance is more informative. We also find that MBMG is incrementally informative about a firm's future performance after considering MBAF. Our findings suggest that investors consider management earnings guidance to be a performance threshold in addition to analyst earnings forecasts when forming earnings expectations.


Forests ◽  
2021 ◽  
Vol 12 (7) ◽  
pp. 821
Author(s):  
Csaba Mátyás ◽  
František Beran ◽  
Jaroslav Dostál ◽  
Jiří Čáp ◽  
Martin Fulín ◽  
...  

Research Highlights: Data of advanced-age provenance tests were reanalyzed applying a new approach, to directly estimate the growth of populations at their original sites under individually generated future climates. The results revealed the high resilience potential of fir species. Background and Objectives: The growth and survival of silver fir under future climatic scenarios are insufficiently investigated at the xeric limits. The selective signature of past climate determining the current and projected growth was investigated to analyze the prospects of adaptive silviculture and assisted transfer of silver fir populations, and the introduction of non-autochthonous species. Materials and Methods: Hargreaves’ climatic moisture deficit was selected to model height responses of adult populations. Climatic transfer distance was used to assess the relative drought stress of populations at the test site, relating these to the past conditions to which the populations had adapted. ClimateEU and ClimateWNA pathway RCP8.5 data served to determine individually past, current, and future moisture deficit conditions. Besides silver fir, other fir species from South Europe and the American Northwest were also tested. Results: Drought tolerance profiles explained the responses of transferred provenances and predicted their future performance and survival. Silver fir displayed significant within-species differentiation regarding drought stress response. Applying the assumed drought tolerance limit of 100 mm relative moisture deficit, most of the tested silver fir populations seem to survive their projected climate at their origin until the end of the century. Survival is likely also for transferred Balkan fir species and for grand fir populations, but not for the Mediterranean species. Conclusions: The projections are less dramatic than provided by usual inventory assessments, considering also the resilience of populations. The method fills the existing gap between experimentally determined adaptive response and the predictions needed for management decisions. It also underscores the unique potential of provenance tests.


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