Volatility of Financial Metrics: Important Data for Contingent Consideration Valuations

2021 ◽  
Vol 40 (3) ◽  
pp. 80-96
Author(s):  
Vicentiu Covrig ◽  
Daniel McConaughy ◽  
Adam Newman ◽  
Pavan Kumar Nadiminti ◽  
Mary Ann K. Travers
Keyword(s):  
Growth Rate ◽  
Statistical Analysis ◽  
Firm Size ◽  
Common Belief ◽  
Net Income ◽  
Important Data ◽  
Business Valuation ◽  
Financial Metrics ◽  
Detailed Statistical Analysis ◽  
Selection Of

This article presents the first detailed statistical analysis of the volatilities of various commonly encountered financial metrics used in contingent consideration (and earn-out) agreements. The valuation of contingent consideration using an option-based methodology and non-equity volatilities is becoming more common in business valuation. We provide clear evidence that the volatility of five financial metrics—revenue; earnings before interest, taxes, depreciation, and amortization (EBITDA); EBIT, net income, and total assets—is strongly, negatively related to firm size and profitability. However, contrary to common belief, the volatility of these metrics is not related to a firm's financial leverage. We also calculated the volatilities using four different methodologies that are employed in practice. Although no theory guides the selection of methodologies, based upon our work, we have found that the year-over-year growth rate, using a quarterly frequency, provides the most reasonable results.

An Economic Analysis of Tomato Production in South Gujarat

2020 ◽  
pp. 161-164
Keyword(s):  
Crop Insurance ◽  
Sampling Technique ◽  
Economic Viability ◽  
Production Economics ◽  
Net Income ◽  
Insurance Scheme ◽  
Tomato Production ◽  
Input Ratio ◽  
Selection Of ◽  
High Output

ABSTRACT The study was conducted in South Gujarat for examining the production economics of tomato in the study area. Multistage random sampling technique was employed for the selection of 120 tomato farmers from Kaparada, Mandvi and Vyara talukas of Valsad, Surat and Tapi district, respectively. The net income of 1.57 lakh/ha showed the economic viability of the crop in the study area with a high output-input ratio of 3.25. It was suggested that the timely supply of credit and crop insurance scheme could further encourage growers for tomato production.

Profitability and Firm Size–Growth Relationship in Construction Companies in Malaysia From 2003 to 2010

2014 ◽  
Vol 17 (03) ◽  
pp. 1450014 ◽  
Author(s):  
Devinaga Rasiah ◽  
David Yoon Kin Tong ◽  
Peong Kwee Kim
Keyword(s):  
Growth Rate ◽  
Firm Size ◽  
Growth Process ◽  
Secondary Data ◽  
Annual Reports ◽  
Basic Study ◽  
Gibrat’S Law ◽  
Construction Companies ◽  
Gibrat's Law ◽  
Size Growth

In this study, we intended to examine empirically how a firm's profitability performance would impact its growth process and the inference for Gibrat's Law. The basic study looks at small, medium and large firms' tendency to grow when their internally generated profits are high. The sample is 124 construction companies listed from years 2003 to 2010 at BURSA Malaysia. Data used is secondary data collected from BURSA Malaysia and annual reports. The result indicated that "growth" contributed significantly to profitability in both small and medium-sized construction companies, but was not significant in large companies. Thus, hypothesis two was supported. This study supports Gibrat's Law, showing that size and growth rate are independent.

Pengaruh Ukuran Perusahaan, Leverage, Kebijakan Dividen dan Profitabilitas terhadap Nilai Perusahaan Studi pada Perusahaan Manufaktur Sektor Food And Beverages

2021 ◽  
Vol 4 (3) ◽  
pp. 626-640
Author(s):  
Nur Anisa ◽  
Sri Hermuningsih ◽  
Alfiatul Maulida
Keyword(s):  
Firm Size ◽  
Firm Value ◽  
Quantitative Research ◽  
Sampling Method ◽  
Dividend Policy ◽  
Linear Regression Analysis ◽  
Multiple Linear Regression Analysis ◽  
Manufacturing Companies ◽  
Food And Beverages ◽  
Selection Of

This study aims to examine the effect of firm size, leverage, dividend policy and profitability on firm value in the study of manufacturing companies in the food and beverages sector. This research uses quantitative research. The technique used in sampling is the purposive sampling method, namely the selection of samples is carried out with predetermined criteria. So that as many as 35 data were obtained from 7 food and beverages companies listed on the IDX during the 2016-2020 period. The data analysis method used is multiple linear regression analysis using the SPSS version 23 program. Based on the results of the study, it shows that: (1) firm size has no effect on firm value, (2) leverage has a negative and significant effect on firm value, (3) dividend policy has no effect on firm value, (4) profitability has a positive and significant effect on firm value. Keywords: firm size, leverage, dividend policy and profitability.

THE EFFECTS OF SEX AND AGE OF MALE AT CASTRATION ON GROWTH AND CARCASS QUALITY OF YORKSHIRE SWINE

1961 ◽  
Vol 41 (1) ◽  
pp. 30-39 ◽  
Author(s):  
L. A. Charette
Keyword(s):  
Growth Rate ◽  
Iodine Number ◽  
Feed Efficiency ◽  
Carcass Characteristics ◽  
Live Weight ◽  
Carcass Quality ◽  
Selection Of ◽  
Effect On Growth

The effects of sex and age of castration of males on growth rate, feed efficiency and carcass characteristics in bacon type swine were measured using 16 pigs each as gilts, entire boars, and boars castrated at birth, 6, 12, 16, and 20 weeks of age. Castration at 20 weeks was too late since some pigs reached 200 pounds live weight before that age. Boars consumed less feed daily than barrows and gilts, were thinner in loin fat, and yielded a higher percentage of shoulder than gilts. The carcasses of boars and gilts were longer, had less fat covering over the shoulder and back, a larger area of loin, and a higher iodine number than those castrated late. Acceptability tests showed that sex or age of castration did not affect the flavour, odour, or tenderness of the meat.Purebred breeders can delay castration for better selection of boars without any serious effect on growth, physical carcass characteristics, and feed requirements. Although the market discriminates against boars, it appears questionable whether castration is necessary when boars are slaughtered at 200 pounds before they reach the age of 150 days.

Gestation length, birth weight and growth rates of pure-bred indigenous goats and their crosses in Kenya

1988 ◽  
Vol 111 (2) ◽  
pp. 363-368 ◽  
Author(s):  
F. Ruvuna ◽  
T. C. Cartwright ◽  
H. Blackburn ◽  
M. Okeyo ◽  
S. Chema
Keyword(s):  
Growth Rate ◽  
Birth Weight ◽  
Statistical Analysis ◽  
Least Squares ◽  
Growth Rates ◽  
Gestation Length ◽  
East African ◽  
Factors Affecting ◽  
Cross Breeding ◽  
Indigenous Goats

SummaryData on gestation period of 701 indigenous East African and Galla does and pre- and postweaning growth of 810 pure-bred and cross-bred kids were analysed by least squares statistical analysis. Breeds of kids were East African, Galla, Toggenburg × East African, Toggenburg × Galla, Anglo-Nubian × East African and Anglo-Nubian × Galla. Average gestation length was 149 days and was significantly (P < 0·05) affected by type of birth of the kid, year–month of kidding, and age of dam. Does carrying twins had shorter gestation length than does carrying singles. Sex and breed of kid did not have significant effect on gestation length.Significant (P < 0·05) factors affecting birth weight, weight at 30, 60, 90, 120, 150, 210 and 270 days of age, and preweaning growth rate were breed and sex of kid, type of birth, year–month and age of dam. Male kids grew faster and were heavier than females. Kids born single were heavier and grew faster than twin-born kids. Kids from dams less than 3 years old weighed less than kids from older dams. Cross-bred kids had higher preweaning growth rates than indigenous pure-bred kids. The Anglo-Nubian × Galla cross was heaviest while the East African ranked lowest. The results point to importance of cross-breeding with temperate breeds to increase growth rates of indigenous goats. Comparison of Toggenburg and Anglo-Nubian sires for cross-breeding showed both buck breeds produced kids with roughly equal growth rates. Evaluation of indigenous Galla and East African dams for cross-breeding showed Galla dams produced heavier kids than East African but preweaning growth rates were not significantly different.

Large Area DPB Free (111) β-SiC Thick Layer Grown on (0001) α-SiC Nominal Surfaces by the CF-PVT Method

2005 ◽  
Vol 483-485 ◽  
pp. 225-228 ◽  
Author(s):  
Didier Chaussende ◽  
Laurence Latu-Romain ◽  
Laurent Auvray ◽  
M. Ucar ◽  
Michel Pons ◽  
...  
Keyword(s):  
Growth Rate ◽  
Optical Microscopy ◽  
Cross Section ◽  
Thick Layer ◽  
Vapour Transport ◽  
Large Area ◽  
Continuous Feed ◽  
Heating Up ◽  
Cross Section Geometry ◽  
Selection Of

Thick (111) oriented β-SiC layers have been grown by hetero-epitaxy on a (0001) a-SiC substrate with the Continuous Feed-Physical Vapour Transport (CF-PVT) method. The growth rate was 68 µm/h at a pressure of 2 torr and a temperature of 1950°C. The nucleation step of the β-SiC layer during the heating up of the process was studied in order to manage first the a to b heteropolytypic transition and second the selection of the b-SiC orientation. With a adapted seeding stage, we grew a 0.4mm thick layer almost free of Double Positioning Boundaries on a 30mm diameter sample. First observations of the layer by cross-polarised optical Microscopy are presented both in planar view and in cross section geometry.

scholarly journals Three Evidence Based Methods to Compensate for a Lack of Subject Background when Ordering Chemistry Monographs

2008 ◽  
Vol 3 (3) ◽  
pp. 3
Author(s):  
Robert A. Wright
Keyword(s):  
Statistical Analysis ◽  
Statistical Significance ◽  
Evidence Base ◽  
Circulation Rate ◽  
Evidence Based ◽  
Practical Application ◽  
Present Evidence ◽  
Library System ◽  
Over Time ◽  
Selection Of

Objective – The aim of this article is to present evidence based methods for the selection of chemistry monographs, particularly for librarians lacking a background in chemistry. These methods will be described in detail, their practical application illustrated, and their efficacy tested by analyzing circulation data. Methods – Two hundred and ninety-five chemistry monographs were selected between 2005 and 2007 using rigorously-applied evidence based methods involving the Library's integrated library system (ILS), Google, and SciFinder Scholar. The average circulation rate of this group of monographs was compared to the average circulation rate of 254 chemistry monographs selected between 2002 and 2004 when the methods were not used or were in an incomplete state of development. Results – Circulations/month were on average 9% greater in the cohort of monographs selected with the rigorously-applied evidence based methods. Further statistical analysis, however, finds that this result can not be attributed to the different application of these methods. Conclusion – The methods discussed in this article appear to provide an evidence base for the selection of chemistry monographs, but their application does not change circulation rates in a statistically significant way. Further research is needed to determine if this lack of statistical significance is real or a product of the organic development and application of these methods over time, making definitive comparisons difficult.

A Study on Statistical Analysis of Si-Wafer Polishing Process for the Optimum Polishing Condition

2008 ◽  
Vol 389-390 ◽  
pp. 493-497 ◽  
Author(s):  
Sung Chul Hwang ◽  
Jong Koo Won ◽  
Jung Taik Lee ◽  
Eun Sang Lee
Keyword(s):  
Surface Roughness ◽  
Statistical Analysis ◽  
Process Parameters ◽  
Wafer Surface ◽  
Wafer Polishing ◽  
Ultra Precision ◽  
Important Processing ◽  
The Many ◽  
Selection Of ◽  
Si Wafer

As the level of Si-wafer surface directly affects device line-width capability, process latitude, yield, and throughput in fabrication of microchips, it needs to have ultra precision surface and flatness. Polishing is one of the important processing having influence on the surface roughness in manufacturing of Si-wafers. The surface roughness in wafer polishing is mainly affected by the many process parameters. For decreasing the surface roughness, the control of polishing parameters is very important. In this paper, the optimum condition selection of ultra precision wafer polishing and the effect of polishing parameters on the surface roughness were evaluated by the statistical analysis of the process parameters.

scholarly journals KEBIJAKAN PEMBAGIAN DIVIDEN KAS DI PERUSAHAAN SUB SEKTOR PERDAGANGAN ECERAN

2021 ◽  
Vol 7 (2) ◽  
pp. 175-186
Author(s):  
Rochman Marota ◽  
Vinna Oktaviani ◽  
Amelia Rahmi
Keyword(s):  
Cash Flow ◽  
Firm Size ◽  
Sampling Method ◽  
Stock Exchange ◽  
Net Income ◽  
Investment Opportunity ◽  
Purposive Sampling ◽  
Investment Opportunity Set ◽  
Operating Cash Flow ◽  
Retail Trading

ABSTRAKTujuan dari penelitian ini adalah untuk menganalisis pengaruh laba bersih, arus kas operasi, investment opportunity set, dan firm size terhadap dividen kas. Penelitian ini dilakukan pada perusahaan sub perdagangan eceran yang terdaftar di Bursa Efek Indonesia periode 2015–2019. Sampel terdiri dari lima perusahaan yang dipilih dengan menggunakan metode purposive sampling. Penelitian ini menggunakan uji regresi linear berganda untuk menguji hipotesis. Hasil pengujian menunjukkan bahwa laba bersih berpengaruh positif terhadap dividen kas, sedangkan arus kas operasi, investment opportunity set, dan firm size tidak berpengaruh. Hal ini dapat menjadi perhatian bagi perusahaan untuk terus meningkatkan kinerja perusahaan dalam menghasilkan laba bersih. Dengan laba yang tinggi, para investor akan lebih tertarik untuk menginvestasikan dananya. ABSTRACTThe purpose of this study is to analyze the effect of net income, operating cash flow, investment opportunity set, and firm size on cash dividends. This research was conducted on sub-retail trading companies listed on the Indonesia Stock Exchange for the 2015–2019 period. The sample consists of five companies, selected using the purposive sampling method. It uses multiple linear regression to test the hypotheses. Results show that net income affects positively cash dividends. While cash flow, investment opportunity set, and firm size does not affect cash dividends. This can be a concern for the company to continue to improve the company's performance in generating net income. With high profits, investors will be more interested in investing their funds.

scholarly journals PENERAPAN METODE BERMAIN PERAN MAKRO TERHADAP KEMAMPUAN BERBICARA

Instruksional ◽  
2019 ◽  
Vol 1 (1) ◽  
pp. 9
Author(s):  
Nirwana Nirwana
Keyword(s):  
Statistical Analysis ◽  
Role Playing ◽  
Wilcoxon Test ◽  
Control Group ◽  
Observation Data ◽  
Group Data ◽  
Before And After ◽  
Group B ◽  
Nonparametric Statistical ◽  
Selection Of

Effect of  role playing macro methods on children's speaking ability in group B in Nurul Rohmah Bekasi. This research is motivated by the lack of ability to speak children. This is because the method used in the learning process is more likely to use conventional methods. The selection of methods to role playing macro so that children can be motivated and interested in learning and can stimulate the ability to speak children. The population in this study were all children of group B in kindergarten Nurul Rohmah while the study sample was B3 group 11 children for the experimental group and B1 group 11 children for the control group. Data collection techniques through test techniques, and observation. Data analysis techniques used were descriptive statistical analysis and nonparametric statistical analysis. Based on the results of the Wilcoxon test calculation, the calculated T value is 66 and T table 11 then the results obtained T count (66)> T table (11) H1 is accepted and Ho is rejected means that there is an effect of role playing macro  methods on children's speaking ability. Whereas the calculated Z value obtained is 2.93 and 1.645 table Z then the result of Z arithmetic (2.93)> Z table (1.645) H1 is accepted and Ho is rejected which means that there is an effect of role playing macro method on children's speaking ability. These results indicate that there is a change in the value of the child's speaking ability before and after getting learning based on the role playing macro method.

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