scholarly journals The Importance of “Contextualisation” in Small and Medium-Sized Firms Valuation: Evidences from an Italian Case Study

2017 ◽  
Vol 13 (1) ◽  
pp. 70
Author(s):  
Damiano Montani ◽  
Francesco Perrini ◽  
Daniele Gervasio ◽  
Andrea Pulcini
Keyword(s):  
Financial Flows ◽  
Italian Case ◽  
Company Value ◽  
Proper Definition ◽  
Theory Of Value ◽  
Definition Of ◽  
A Company ◽  
Correct Data

The valuation of a small or medium-sized enterprise through subjective methods, may not exclude a correct contextualisation of the data forming the information base of the estimate. “Contextualisation” refers to the general overview of all those elements that allow a proper definition of the enterprise’s background. All of this serves in the analysis for the correct data necessary for the determination of values such as the economic and financial flows to discount, the timeframe of analysis and the discount rate. Without a correct contextualisation, it is not possible to reach a correct measurement of the company value in accordance with the studies on the “theory of value”. After observing that “contextualisation” has not been widely studied till now for the theory of value, the present work analyses the incidence on the measurement of the company value, showing with an empirical case the different results that may be reached on the basis of the contextualisation of data. Hence, a correct “contextualisation” is crucial for the proper valuation of a company. Academic researches should take more carefully into consideration, this aspect concerning the valuation of a company and in particular, define more accurately the implementing rules in the assessment methods.

scholarly journals Investigations on historical monuments’ deterioration through chemical and isotopic analyses: an Italian case study

2021 ◽  
Author(s):  
Maria Ricciardi ◽  
Concetta Pironti ◽  
Oriana Motta ◽  
Rosa Fiorillo ◽  
Federica Camin ◽  
...  
Keyword(s):  
Potassium Nitrate ◽  
Sewage Water ◽  
X Ray Diffraction ◽  
Italian Case ◽  
Historical Monuments ◽  
Isotopic Analyses ◽  
Historic Centre ◽  
The Church

AbstractIn this paper, we analysed the efflorescences present in the frescos of a monumental complex named S. Pietro a Corte situated in the historic centre of Salerno (Campania, Italy). The groundwater of the historic centre is fed by two important streams (the Rafastia and the Fusandola) that can be the sources of water penetration. The aims of this work are to (i) identify the stream that reaches the ancient frigidarium of S. Pietro a Corte and (ii) characterize the efflorescences on damaged frescos in terms of chemical nature and sources. In order to accomplish the first aim, the water of the Rafastia river (7 samples) and the water of the Fusandola river (7 samples) were analysed and compared with the water of a well of the Church (7 samples). The ionic chromatography measurements on the water samples allowed us to identify the Rafastia as the river that feeds the ancient frigidarium of S. Pietro a Corte. To investigate the nature and the origin of the efflorescences (our second aim), anionic chromatography analyses, X-ray diffraction measurements, and the isotopic determination of nitrogen were performed on the efflorescences (9 samples) and the salts recovered from the well (6 samples). Results of these analyses show that efflorescences are mainly made of potassium nitrate with a δ15N value of + 9.3 ± 0.2‰. Consequently, a plausible explanation for their formation could be the permeation of sewage water on the walls of the monumental complex.

Territorial capital as a company intangible

2016 ◽  
Vol 17 (1) ◽  
pp. 148-167 ◽  
Author(s):  
Mariachiara Barzotto ◽  
Giancarlo Corò ◽  
Mario Volpe
Keyword(s):  
Great Difficulty ◽  
Future Research ◽  
Manufacturing Companies ◽  
Policy Makers ◽  
Content Type ◽  
Capital Growth ◽  
Multiple Case ◽  
Definition Of ◽  
A Company

Purpose – The purpose of this paper is twofold. First, to explore to what extent being located in a territory is value-relevant for a company. Second, to understand if a company is aware of, and how it can sustain, the territorial tangible and intangible assets present in the economic area in which it is located. Design/methodology/approach – The study presents an empirical multiple case-study, investigating ten mid-/large-sized Italian companies in manufacturing sectors. Findings – The results indicate that the sampled manufacturing companies are intertwined with the environment in which they are embedded, both in their home country and in host ones. The domestic territorial capital has provided, and still provides, enterprises with workers endowed with the necessary technical skills that they can have great difficulty in finding in other places. In turn, companies support territorial capital generation through their activities. Research limitations/implications – To increase the generalisability of the results, future research should expand the sample and examine firms based in different countries and sectors. Practical implications – Implications for policy makers: developing effective initiatives to support and guide a sustainable territorial capital growth. Implications for managers and investors: improving managerial and investors’ decisions by disclosing a complete picture of the enterprise, also outside the firm boundaries. Originality/value – The study contributes to intangibles/intellectual capital literature by shedding light on the importance of including territorial capital in a company’s report to improve the definition of the firm’s value. Accounting of the territorial capital would increase the awareness of the socio-economic environment value in which companies are located and its use.

scholarly journals A Control Based Mathematical Model for the Evaluation of Intervention Lines in COVID-19 Epidemic Spread: The Italian Case Study

Symmetry ◽  
2021 ◽  
Vol 13 (5) ◽  
pp. 890
Author(s):  
Paolo Di Giamberardino ◽  
Rita Caldarella ◽  
Daniela Iacoviello
Keyword(s):  
Mathematical Model ◽  
Equilibrium Points ◽  
Italian Case ◽  
Control Actions ◽  
Containment Measures ◽  
Asymptomatic Subjects ◽  
The Impact

This paper addresses the problem of describing the spread of COVID-19 by a mathematical model introducing all the possible control actions as prevention (informative campaign, use of masks, social distancing, vaccination) and medication. The model adopted is similar to SEIQR, with the infected patients split into groups of asymptomatic subjects and isolated ones. This distinction is particularly important in the current pandemic, due to the fundamental the role of asymptomatic subjects in the virus diffusion. The influence of the control actions is considered in analysing the model, from the calculus of the equilibrium points to the determination of the reproduction number. This choice is motivated by the fact that the available organised data have been collected since from the end of February 2020, and almost simultaneously containment measures, increasing in typology and effectiveness, have been applied. The characteristics of COVID-19, not fully understood yet, suggest an asymmetric diffusion among countries and among categories of subjects. Referring to the Italian situation, the containment measures, as applied by the population, have been identified, showing their relation with the government's decisions; this allows the study of possible scenarios, comparing the impact of different possible choices.

scholarly journals Impact of Social Responsibility on the Quality of Company Governance

2019 ◽  
Vol 65 (2) ◽  
pp. 21-29
Author(s):  
Ana Jurić ◽  
Aleksandra Zupanc ◽  
Tjaša Štrukelj
Keyword(s):  
Social Responsibility ◽  
Limited Liability ◽  
Added Value ◽  
Socially Responsible ◽  
Company Governance ◽  
Research Findings ◽  
Definition Of ◽  
A Company

AbstractThe central aim of the article is company governance, i.e., researching governance of a company that does not want to be only financially successful but also direct its governance toward socially responsible governance. The article begins with the definition of “theoretical backgrounds,” in which social responsibility in regard to company governance improvement in quality is explained. The article then focuses on the measurement of the quality of company governance; in the research, the selected tool chosen to evaluate the governance of the chosen company regarding social responsibility, i.e., SEECGAN index, is used. Further, the case study of a Slovenian public limited liability company is used. One of the important research findings is the recognition that the addressed part of the SEECGAN index needs to be innovated and further developed. Additional questions for the completion of the index used presents the added value of the article. This article has two limitations: 1) it focuses only on the tool chosen to evaluate the governance of the chosen company regarding social responsibility; 2) the case study is based on publicly accessible data.

scholarly journals Aplikasi Penentuan Tunjangan Kinerja dan Rekomendasi Pegawai Universitas Singaperbangsa Karawang

2019 ◽  
Vol 3 (3) ◽  
pp. 191
Author(s):  
Aldi Jakaria ◽  
Ade Andri Hendriadi ◽  
Nina Sulistiyowati
Keyword(s):  
Decision Making ◽  
Employee Performance ◽  
Multiple Attribute Decision Making ◽  
Development Life Cycle ◽  
Multiple Attribute ◽  
Waterfall Model ◽  
Definition Of ◽  
The University

Universitas Singaperbangsa Karawang does not yet have a system and criteria for assessing the performance of non-P3K employees. Currently the staffing office at the University of Singaperbangsa Karawang does not yet have a way to determine how an employee is entitled to a Performance Allowance. Based on these facts, a website-based employee performance allowance information system will be created with a case study of the staff of the singaperbangsa karawang university. The system to be built includes the definition of criteria, data processing to become the best employee recommendation / promotion and determination of Employee Performance Allowances. The methodology used is software engineering and uses the Software Development Life Cycle (SDLC) method with the waterfall model because it is in accordance with the research that will be carried out with a relatively short stage of system usage. The calculation process is done by using the method of fuzzy multiple attribute decision making with weighted product because this method determines the weight value for each attribute, then proceed with a ranking process that will select the best alternative from a number of alternatives. The system created can provide information about the amount of employee performance benefits and recommendations for promotion for employees. After evaluating the user, this system gets a response that is easy to understand and easy to understand on each menu on the system. Looking at the benefits of this system is useful when it will provide performance allowances to employees and at the time will determine the employees who are reconditioned for promotions. The design of employee recommendation decision support systems using fuzzy multiple attribute decision making is done by completing the weighted product to produce alternatives after verification with the existing data getting 60% accuracy.

Process Organization as a Determinant on Team Development and Maturity

2000 ◽  
Vol 44 (12) ◽  
pp. 2-575-2-578
Author(s):  
Georg Stawowy ◽  
Holger Luczak
Keyword(s):  
Work Organization ◽  
Team Work ◽  
Psychological Development ◽  
Team Development ◽  
Social Psychological ◽  
Definition Of ◽  
A Company ◽  
Strategic Goal

Numerous German companies experience a slow down in team work two to three years after the implementation. Therefore, stability of work organization gains importance as a strategic goal. Based on a literature review on team development a model to describe team development as a basis for the definition of team maturity is presented in this paper. Furthermore, a classification of team tasks in addition to a chosen model of team development lead to a model to explain the relationships among process organization, team tasks and the level of social-psychological development. The underlying hypothesis are finally formulated. Following, a company case study with 28 teams has been conducted to research the tasks within a flow production line and to assess in 48 interviews with members of 14 teams the achieved level of team maturity.

scholarly journals A marca própria e os seus aspectos negociais: um estudo de caso

2017 ◽  
Vol 8 (16) ◽  
Author(s):  
Edivaldo Fernandes Dos Santos Junior ◽  
Andréa Paula Osório Duque ◽  
Manoel Marcondes Machado Neto
Keyword(s):  
Careful Analysis ◽  
Private Label ◽  
Case Study Approach ◽  
Strategic Objectives ◽  
Chain Stores ◽  
Study Approach ◽  
A Company ◽  
Selection Of

Atualmente, as marcas comerciais surgem como atributos de diferenciação e de vantagem competitiva, criando valor para as empresas de varejo. Neste sentido, elas geralmente têm seus produtos associados a preços mais acessíveis, possibilitando a incorporação de um nicho de mercado ao negócio de supermercados e redes de lojas, além de gerar maior rentabilidade. Este estudo se propôs a examinar os aspectos relacionados à origem e ao fortalecimento de uma marca própria por meio de um estudo de caso. O objetivo geral consiste em investigar o desenvolvimento de uma marca própria em uma empresa de produtos naturais. A metodologia adotada é a da pesquisa descritiva, com dados qualitativos obtidos a partir de um estudo de caso único. A coleta de dados foi efetivada via entrevista com o diretor-executivo e a gerente de desenvolvimento de produtos de uma empresa do ramo de alimentos saudáveis. Os resultados demonstram, principalmente, que o desenvolvimento da marca própria pesquisada requereu análise criteriosa dos hábitos dos consumidores; determinação dos objetivos estratégicos; diferenciação competitiva por meio de escolha precisa de fornecedores; investimento maciço em marketing; além de diversificação dos veículos de comunicação.Palavras-chave: Marca. Marca Própria. Brand. Branding.The private label and its negotiation aspects: a case studyAbstractNowadays, trademarks appear as differentiating attributes and competitive advantage, creating value for retail companies. In this way, private labels usually have their products associated with more affordable prices, enabling the incorporation of market niches to supermarkets and chain stores, in addition to higher profitability. This study aimed to examine the issues related to the origin and strengthening of a private label through a case study. The overall objective is to investigate the development of a private label in a company of natural products. The methodology adopted is this study can be classified as an applied research, descriptive and qualitative data obtained through a case study approach. Data collection for the completion of the case study approach was carried out by an interview with the executive director and the product development manager. The results show mainly that the development of a private label required careful analysis of consumers’ habits; determination of strategic objectives; competitive differentiation through careful selection of suppliers; massive investment in marketing and media diversification.Keywords: Brand. Branding. Private Label.

scholarly journals The Determination of Performance Measures by Using a Balanced Scorecard Framework

2019 ◽  
Vol 11 (1) ◽  
pp. 43-56
Author(s):  
Irem Kefe
Keyword(s):  
Balanced Scorecard ◽  
Financial Measures ◽  
The Balanced Scorecard ◽  
Manufacturing Company ◽  
Strategy Map ◽  
Owned Company ◽  
The Relationship ◽  
A Company

Abstract The aim of this study was to determine the contributions of the balanced scorecard (BSC) methods to identify the relationship between the objectives and activities and examine how the BSC should be formed in a manufacturing company. The BSC framework was examined via a case study in a yarn manufacturing company. The activities to be carried out by the company to achieve its objectives and how the appropriate measures are determined in evaluating the contribution of the activities to the achievement of objectives are explained under the BSC approach. The BSC implementation and adaptation have facilitated in a family owned company because of its fast decision-making process. Objectives are made clear in accordance with the company’s strategy and causal relationship between objectives and activities are linked by the strategy map. The BSC implementation shows that financial measures are not enough to evaluate the effects of all the activities on the objectives in a company. The cooperation between departments in the company and the efficiency of corporation meetings increases. The meetings have become more result-oriented due to clarifying objectives and responsibility of individual levels.

Determination of dairy wastewater treatability by bio-trickling filter packed with lava rocks – case study PEGAH dairy factory

2012 ◽  
Vol 65 (8) ◽  
pp. 1441-1447 ◽  
Author(s):  
N. Mehrdadi ◽  
G. R. Nabi Bidhendi ◽  
M. Shokouhi
Keyword(s):  
Dairy Products ◽  
Oxygen Demand ◽  
Pilot Scale ◽  
Dairy Wastewater ◽  
Trickling Filter ◽  
Steady State Condition ◽  
Ph Values ◽  
A Company

This paper investigates the effectiveness of a biological trickling filter for the treatment of wastewaters produced by a company manufacturing dairy products. First a bio-trickling column with a height of 150 cm was packed with lava rocks from north mountain of Tehran. It operates with the recirculation of liquid through the packing. In order to startup the pilot scale, steady state condition was gained by pumping activated sludge and dairy wastewater for 23 days. Afterwards, dairy wastewater was added to liquid tank for treatment. Hydraulic retention time (HRT) of treatment decreases from 5 days to 1 day then at HRT of 12, 8, 7, 6 and 4 h. Results show that the average chemical oxygen demand (COD) decreased from 2,750 to 98 mg/L at HRT of 7 h and efficiency of TKN removal was more than 70%. The microorganisms developed in the bio-trickling filter were able to efficiently remove COD levels up to 2,750 mg/L, under aerobic conditions at pH values between 6.8 and 7.2 under low temperature condition between 10 and 13 °C.

scholarly journals Empirical Analysis of Capital Structure Determinants of Russian Oil and Gas Companies

2018 ◽  
Vol 13 (5) ◽  
pp. 80-109 ◽  
Keyword(s):  
Capital Structure ◽  
Oil And Gas ◽  
Structure Form ◽  
Financing Decisions ◽  
Western Market ◽  
Definition Of ◽  
Oil And Gas Companies ◽  
A Company ◽  
The Capital Structure

The theory of capital structure, developed in the last century, determines the factors on the basis of which the management of a given company must form its system of financing decisions in order to optimize the capital structure and, accordingly, to increase the company’s value. Despite the fact that the data of the theory are based on the fundamental concepts of corporate finance, such as the present value of future revenues, information asymmetry, and profitability, the tenets of different theories contradict each other. These ambiguous results concerning the influence of various factors on a company’s capital structure form the motivation and problem of this study. Decisions on financing a company have an impact on its value, and therefore its financing method is a very significant factor for investors, directors and other stakeholders, which makes the study of target capital structure determinants particularly relevant. The topic of the capital structure of Russian companies has barely been addressed in existing studies, since most often they are based on the Western market. Thus, the identification of regularities in the system of decisions on capital structure through the case study of oil and gas companies in Russia, as well as the definition of theories that explain these patterns, are of particular interest, motivated by the ambiguity of previous studies, and the lack of such studies on Russian companies. Identifying the existing patterns affecting decisions on capital structure and the theoretical framework that describes them will enable companies to develop their own system of capital structure decisions.

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