Le jugement professionnel: foyer de tensions et de synergies nouvelles en évaluation scolaire

OpenAIRE

Laveault, Dany

2008-01-01

Le jugement professionnel d’évaluation intervient dans les prises de décision et il se révèle particulièrement utile lorsque les mesures de contrôle externe du risque d’erreur se sont avérées inappropriées ou insuffisantes. Il est appelé à soutenir la qualité de l’évaluation dans les trois grandes catégories d’actes professionnels: les actes logiques, psychologiques et moraux. Particulièrement en évaluation certificative, il fait l’objet de nombreuses tensions entre dispositifs de contrôle ex...

Influence du temps de conservation du sang sur l'hémogramme réalisé avec le Vet-ABC chez le chien et le chat

OpenAIRE

Caillard, Agnès

2002-01-01

L'utilisation du Vet abc, automate d'hématologie de type «coulter » a permis d'étudier les modifications engendrées par la conservation du sang pendant 24 heures à température ambiante, sur les paramètres et constituants de l'hémogramme du chien et du chat. L'évaluation de l'effet de la conservation du sang sur l'IDR et sur les courbes de distribution cellulaire, constitue l'originalité de ce travail. Les évolutions les plus notables ont été les suivantes : - un VGM qui augmente en moyenne de...

Évaluation de l'importance du parcours Gadoudhé, dans l ...

African Journals Online (AJOL)

alimentation du bétail de la commune rurale de Fabidji au Niger. Méthodologie et résultats: Une enquête a été menée auprès des éleveurs de la commune rurale de Fabidji (Niger), sur l'utilité du parcours dans l'alimentation du bétail. Les résultats ...

Du crayon à l'imprimante alphabétisation, micro-informatique et sémiotique

CERN Document Server

Blais, Hélène

1988-01-01

L'implantation du micro-ordinateur dans un groupe d'alphabétisation - Les micro-ordinateurs à l'école des adultes qui s'alphabétisent - Bilan d'une expérimentation : la micro-informatique en alphabétisation - Épreuve d'évaluation du niveau d'alphabétisation - Pratiques d'alphabétisation : quelques repères - Territorialités du texte «analphabète».

Counter-IED PPE Horizon 0, Phase 1 Human Factors Trial: Performance Evaluation of Soft Armour Personal Protective Equipment (Essai Ergonomique du Projet Horizon 0 d’EPI a l’Epreuve des IED, Phase 1: Evaluation du Rendement d’un Equipement de Protection Individual en Materiel Souple)

Science.gov (United States)

2008-03-31

du rendement et d’évaluations produites par des observateurs en ergonomie . Les conditions d’essai ont eu recours au concept de protection que...du rendement et à des évaluations faites par des observateurs en ergonomie . Après avoir mise à l’épreuve toutes les conditions de protection souple...observateurs en ergonomie . Les conditions d’essai ont eu recours au concept de protection que constitue le Système de gilet pare balles tactique modulaire

Evaluation du stock de coquilles Saint-Jacques de la Manche-Est - Campagne COMOR XXIV N.O. Thalia

OpenAIRE

Vigneau, Joel; Lemoine, Michel

1994-01-01

Tous les ans depuis 1976, le laboratoire "RESSOURCES HALIEUTIQUES" de PORT-EN-BESSIN effectue une campagne d'évaluation sur les coquilles Saint-Jacques en Manche-Est; Les objectifs en sont une évaluation des stocks avec estimation de la biomasse exploitable, de la qualité du recrutement (prochaine génération à entrer dans les captures) et du pré-recrutement (dernière génération née, non encore accessible aux engins par la taille), et des paramètres de croissance. Toutes ces données servent de...

Droit du dommage corporel systèmes d'indemnisation

CERN Document Server

Lambert-Faivre, Yvonne

2015-01-01

Le Droit du dommage corporel est aujourd'hui une spécialité reconnue, à la convergence du droit civil et du droit pénal, du droit de la consommation et du droit de l'environnement, du droit de la sécurité sociale et du droit des transports, etc. La sécurité et l'intégrité de la personne humaine sont des droits fondamentaux où l'exigence éthique et l'équité confortent la règle juridique pour tenter d'indemniser les victimes de dommages corporels avec efficacité et transparence. Dans tous ces domaines, cette 8e édition rend compte de l'actualité du droit du dommage corporel : jurisprudence détaillée sur la nomenclature des préjudices réparables, à l'heure où sa consécration par décret reste en suspens, évaluation médicale et monétaire des préjudices, actualité jurisprudentielle du recours des tiers payeurs (article 25 de la loi du 21 décembre 2006 et ses difficultés d'application), sécurité sociale, responsabilité médicale et indemnisations des victimes d'accidents médica...

L’évaluation des experts dans les organisations

Directory of Open Access Journals (Sweden)

Pierre Mirralès

2009-03-01

Full Text Available L’avènement des nouvelles technologies et le développement de la société de connaissance n’ont fait qu’amplifier le rôle central de l’expert dans l’organisation. Plus que tout autre individu évoluant dans un milieu professionnel, son évaluation s’avère incontournable et cruciale. Du point de vue managérial pourtant, cette nécessaire évaluation génère très souvent de nombreuses frustrations de l’ensemble des parties prenantes. Notre travail de recherche s’attache à comprendre et à apporter des éléments de réponse à une évaluation des experts qui soit acceptable par eux –mêmes, par les dirigeants de l’organisation et par les autres parties prenantes (Etat, clients, actionnaires, fournisseurs…. Il met en évidence deux grandes modalités de l’évaluation : l’évaluation contrôle et l’évaluation régulation, pour lesquelles les réactions des experts sont diamétralement opposées. Notre méthodologie de recherche utilise des études de cas entreprises auprès d’une trentaine d’experts de deux secteurs d’activité différents.The advent of new technologies and the development of the Knowledge society have increased the central role of experts in organizations. More than any other professional individual, his evaluation is crucial. From the managerial point of view however, this evaluation often creates frustration of many stakeholders. This article tries to understand the process and develop a method which is acceptable to the management of the organization but also for other stakeholders (State, clients, shareholders, suppliers…. The article highlights two methods of evaluation: the control and regulation methods, for which the reactions of the experts are completely opposed. The methodology is based on case studies of firms with some 30 experts in two sectors of activity.

L'Algérie, intégration de l'évaluation citoyenne comme maîtrise d ...

African Journals Online (AJOL)

Haridi

6 juin 2016 ... reconstructif essentiel pour relever le défi du suivi des avancées stratégiques de préservation ... 2.1 L'évaluation des incidences environnementales .... énergies renouvelables (hydroélectrique, nucléaire, éolienne) (fig. 7-9).

Évaluation de la dynamique de la transmission du Zika et des ...

International Development Research Centre (IDRC) Digital Library (Canada)

... mais a souligné que la transmission du Zika et ses conséquences graves continueront de représenter un important problème de santé publique. On enregistre encore des lacunes au niveau des connaissances liées à la dynamique de transmission écologique, ou aux facteurs qui ont une incidence sur la propagation du ...

Analyse spatiale, évaluation et cartographie du risque glissement de terrain

OpenAIRE

Malet , Jean-Philippe; Thiery , Yannick; Maquaire , Olivier; Puissant , Anne

2006-01-01

International audience; RÉSUMÉ : Pour évaluer et cartographier le risque « glissement de terrain », les techniques d'analyse spatiale et les technologies SIG sont rarement utilisées. En particulier, aucune étude concerne la cartographie automatique du risque « glissement de terrain » à grande échelle (1:10,000 è), échelle de travail correspondant à la cartographie règlementaire du risque naturel en France. Cet article présente une procédure en trois étapes pour évaluer et cartographier le ris...

Chenu F. (2015). L’évaluation des compétences professionnelles. Une mise à l'épreuve des notions et présupposés théoriques sous-jacents

OpenAIRE

Wittorski, Richard

2016-01-01

Dans son ouvrage intitulé L’évaluation des compétences professionnelles, Florent Chenu s’intéresse à une question « chargée » tant sur le plan scientifique (définitions multiples du terme compétence, souvent aujourd’hui considéré comme un « mot valise ») que sur le plan social (des enjeux et débats sociaux vifs concernant les modalités d’évaluation des compétences et, au-delà, concernant la façon de les reconnaître dans les milieux du travail). Dans ce contexte particulier, proposer une publi...

Amélioration des performances environnementales des pratiques viticoles et analyse des risques pour la qualité du raisin : étape vers l’écoqualiconception©

Directory of Open Access Journals (Sweden)

Beauchet Sandra

2017-01-01

Full Text Available L’évolution des itinéraires techniques viticoles (ITKv vers un plus grand respect de l’environnement passe par une évaluation de leurs performances environnementales. Dans un contexte de gestion durable, plusieurs autres facteurs sont à prendre en compte, notamment le risque de modification de la qualité des raisins issus de ces ITKv. Les résultats d’évaluation environnementale par la méthode d’Analyse du Cycle de Vie (ACV ainsi que l’évaluation de la qualité du raisin s’appuient sur beaucoup données. Ce travail montre l’intérêt d’une méthode d’évaluation multicritère conjointe « environnement et qualité », dans le processus de changement de pratiques pour une amélioration des performances. Les résultats obtenus sur 5 ITKv montrent des différences de notes entre les 2 millésimes étudiés et des pratiques ont été identifiées pour leurs forts impacts sur les résultats ACV. Des propositions théoriques de changement de pratiques sont testées sur l’un des ITKv. Ces propositions améliorent les notes environnementales finales de +0,15 points à +0,77 points (/10 quand elles sont mises en œuvre séparément et +2,29 points (/10 en étant combinées. Un modèle explicatif de la qualité du raisin permet de vérifier que les nouvelles pratiques ne peuvent potentiellement pas altérer la qualité du raisin. La méthode d’évaluation conjointe CONTRA-QUALENVIC adaptée à la viticulture montre ici qu’elle peut être une aide à l’amélioration des ITKv.

The Organizational Valuation of Valuation Devices

DEFF Research Database (Denmark)

Hauge, Amalie Martinus

2016-01-01

—integrated modes of valuation. Empirically, the paper draws on an ethnographic study of Lean management at a children’s hospital, which is presented through analytical snapshots. The paper suggests that an organizational turn is relevant for valuation studies, as this frst allows an analytical expansion to include...

La mesure du danger

CERN Document Server

Manceron, Vanessa; Revet, Sandrine

2014-01-01

La mesure du danger permet d’explorer des dangers de nature aussi diverse que la délinquance, la pollution, l’écueil maritime, la maladie ou l’attaque sorcellaire, l’extinction d’espèces animales ou végétales, voire de la Planète tout entière. Au croisement de la sociologie, de l’anthropologie et de l’histoire, les différents articles analysent les pratiques concrètes de mesure pour tenter de comprendre ce qui se produit au cours de l’opération d’évaluation du danger sans préjuger de la nature de celui-ci. L’anthropologie a contribué à la réflexion sur l’infortune en s’intéressant aux temporalités de l’après : maladies, catastrophes, pandémies, etc. et en cherchant à rendre compte de l’expérience des victimes, de leur vie ordinaire bouleversée, de la recomposition du quotidien. Elle s’intéresse aussi aux autres types de mesures, les savoirs incorporés, qui reposent sur l’odorat, la vue ou le toucher et ceux qui ressortent d’une épistémologie « non ...

Étude Descriptive du Processus D’ÉValuation et de Documentation de la Douleur Postopératoire dans un Hôpital Universitaire

Directory of Open Access Journals (Sweden)

Dave A Bergeron

2011-01-01

Full Text Available Plusieurs études démontrent que les patients reçoivent souvent un traitement insatisfaisant de la douleur en contexte postopératoire. Le but de la présente étude descriptive était d’examiner et d’analyser diverses données ayant trait au soulagement de 40 patients après une intervention chirurgicale non urgente. Les patients ont rempli un journal de douleur afin d’évaluer le niveau d’intensité et de désagrément engendré par la douleur durant les trois premières journées postopératoires. Une analyse du dossier a permis de vérifier la documentation de l’évaluation de la douleur par le personnel infirmier. Les résultats indiquent que la douleur en contexte postopératoire est peu et inadéquatement évaluée et peu documentée par le personnel infirmier. Lorsque la douleur est évaluée selon une échelle numérique, les infirmières ont tendance à la sous-évaluer en comparaison avec l’évaluation notée par les patients. Pour la première journée postopératoire, l’intensité moyenne de la douleur documentée par les infirmières est de 1,57 (±0,23 sur une échelle numérique de 0 à 10, alors que l’intensité moyenne documentée par les patients est de 3,82 (±0,41. Cette étude fait ainsi ressortir qu’il n’y a pas de corrélation significative entre l’intensité de la douleur documentée par l’infirmière et celle notée par le patient, ce qui peut expliquer en partie un soulagement non optimal.

Theory of the property valuation + valuation of specific property in Prague 6

OpenAIRE

Wurst, David

2011-01-01

The objective of Bachelor thesis is the definition of basic terms and methods used in the property valuation and the subsequent valuation of specific property. The thesis is divided into theoretical and practical part. The theoretical part is devoted to (description) describing the basic terms and bases needed for the valuation and characteristics of the most widely used methods of property valuation. In the practical part is going to be made the valuation of the specific property by the comp...

Consumption-based Equity Valuation

DEFF Research Database (Denmark)

Bach, Christian; Christensen, Peter Ove

2013-01-01

the performance of the model with several implementations of standard valuation models, both in terms of absolute valuation errors, and in terms of the returns on simple investment strategies based on the differences between model and market prices in the respective valuation models. The CCAPM-based valuation...... model performs substantially better than the best performing standard valuation model when comparing absolute valuation errors. Both types of models are able to identify investment strategies with subsequent excess returns but also in this setting, the CCAPM-based valuation model outperforms...... residual income for risk in the numerator rather than through a risk-adjusted cost of equity in the denominator. The risk-adjustments are derived based on assumptions about the time-series properties of residual income returns and aggregate consumption rather than on historical stock returns. We compare...

Equity valuation : Under Armour

OpenAIRE

Vicente, António Rafael Mendes

2016-01-01

The present dissertation aims to value Under Armour, an American sportswear company. Since Valuation is not an exact science, during the literature review will be presented several valuation methods. Most of the authors mention DCF Valuation as one of the best but it seems impossible for them to reach a consensus about which one is in fact the best. In order to get Under Armour’s target price, a DCF valuation will be made and accompanied by a Relative Valuation that, when it is properly us...

Évaluation de la productivité du maïs ( Zea mays L.) sous ...

African Journals Online (AJOL)

Conclusion et principales applications de la recherche: L'application des biomasses T. diversifolia et E. abyssinica en combinaison organo-minérale sur une culture de maïs démontre jouer un rôle multiple sur la physique, la chimie et la biologie du sol avec comme conséquence une augmentation du rendement de l'ordre ...

Valuation of Property.

Science.gov (United States)

Bodley, Joanne H.; Goodenough, Linda

This report describes property tax revenues and assessment rates for all 50 States during 1966. The following information is summarized by State and by class of property: (1) The total valuation and the taxable valuation of property subject to local general property taxation and the percent distribution of total valuation by class of property; (2)…

Participation du CRDI à des conférences d'envergure | CRDI ...

International Development Research Centre (IDRC) Digital Library (Canada)

25 avr. 2016 ... Le rapport en découlant servira à éclairer les décisions de programmation en ce qui concerne les conférences d'envergure, et à orienter la façon dont le CRDI les organise et y participe. Voici quels sont les grands objectifs de cette évaluation stratégique : comprendre la nature de la participation du CRDI à ...

Over-valuation: avoid double counting when retaining dividends in the FCFE valuation

OpenAIRE

Silva, J. M.; Pereira, J. A.

2017-01-01

Valuation based on DCF (Discounted Cash Flow) has been the dominant valuation procedure during the last decades. In spite of this dominance, enterprise valuation using the discounted FCF (Free Cash Flow) model has some practical drawbacks, since there is often some confusion on how to effectively use it. Commonly, the valuation procedures start by estimating future FCF figures from historical data, such as mean FCF, growth and retention ratio, alongside many other variables. These FCF forecas...

Valuation of intangible assets

OpenAIRE

Karlíková, Jitka

2010-01-01

The thesis is focused on the valuation of intangible assets, particularly trademarks and copyrights. In the beginning it deals with the problems of valuation of intangible assets. The main part of the thesis provides an overview of methods for valuation of intangible assets. This part is followed by a practical section that illustrates the procedure of valuation of trademarks and copyrights on a concrete example.

Introducing laptops to children: An examination of ubiquitous computing in Grade 3 reading, language, and mathematics

Directory of Open Access Journals (Sweden)

Robert M. Bernard

2008-05-01

Full Text Available This study examines the achievement outcomes accompanying the implementation of a Grade 3 laptop or so-called ubiquitous computing program in a Quebec school district. CAT-3 reading, language, and mathematics batteries were administered at the end of Grade 2 and again at the end of Grade 3, after the first year of computer implementation. Overall gain was found in all three content areas, but was differential when compared with the norms of the CAT-3. Additionally, some evidence suggested a differential gain for lower and middle-level learners during the school year. Teachers were administered an instrument called the Technology Implementation Questionnaire (TIQ that assessed the purposes and extent of technology integration. Negative correlations were found in reading achievement gain for items associated with the higher use of communicative, evaluative, and creative uses of computers. Open-ended teacher responses indicated the need for more professional support for instructional implementations of computing. Résumé: Cette étude examine les performances accompagnant l’implantation d’un programme d’ordinateurs portables en 3 ième année du primaire, aussi appelé programme d’ubiquité computationnelle, dans une école d’un district scolaire du Québec. Des batteries de tests, CAT-3 en lecture, en langue et en mathématiques ont été administrées à la fin de la deuxième année du primaire et une autre fois à la fin de la troisième année du primaire, après un an d’implantation des ordinateurs. Un gain fut observé dans les trois matières, mais était différencié lorsque comparé aux normes du CAT-3. De plus, un gain différencié fut mis en évidence pour les apprenants de niveau inférieur et moyen durant l’année scolaire. Les enseignants ont rempli le Technology Implementation Questionnaire (TIQ qui mesure le but et l’étendue de l’intégration technologique. Des corrélations négatives ont été trouvées en

Social impact analysis: monetary valuation

Science.gov (United States)

Wainger, Lisa A.; Johnston, Robert J.; Bagstad, Kenneth J.; Casey, Frank; Vegh, Tibor

2014-01-01

This section provides basic guidance for using and conducting economic valuation, including criteria for judging whether valuation is appropriate for supporting decisions. It provides an introduction to the economic techniques used to measure changes in social welfare and describes which methods may be most appropriate for use in valuing particular ecosystem services. Rather than providing comprehensive valuation instructions,it directs readers to additional resources.More generally, it establishes that the valuation of ecosystem services is grounded in a long history of non-market valuation and discusses how ecosystem services valuation can be conducted within established economic theory and techniques.

Présentation du volume

Directory of Open Access Journals (Sweden)

Ana Zwitter Vitez

2012-12-01

Full Text Available Dans de nombreuses disciplines scientifiques, le discours parlé représente depuis quelques décennies un objet de recherche proéminent. Ce fait s’explique probablement par deux caractéristiques principales du discours parlé: la structure complexe de sa matérialité et les fonctions variées de différentes pratiques langagières. C’est pourquoi le présent numéro réunit les articles basés sur les approches actuelles du discours parlé et sur les pratiques langagières spécifiques. Le volume est introduit par deux articles interdisciplinaires: Peter Garrard et Ahmed Samrah présentent le domaine de la pathologie du langage en donnant une revue fouillée sur les approches actuelles de l’analyse linguistique lors de la détection de la maladie d’Alzheimer, tandis que Harry Hollien donne un aperçu structuré sur le domaine de la phonétique judiciaire destiné à dévoiler l’identité des locuteurs et de détecter la déception dans le discours parlé. Les analyses explorant l’acquisition du langage commencent par l’article de Katharina Zipser qui examine la progression de structures grammaticales en les mettant en comparaison avec la compétence des apprenants et continuent par l’étude de Meta Lah proposant une évaluation des documents audiovisuels proposés aux apprenants de langue étrangère. Vesna Požgaj Hadži, Damir Horga et Tatjana Balažic Bulc remettent en question la corrélation entre la compétence linguistique et la fluence linguistique auprès de locuteurs non-maternels et l'analyse de Gemma Santiago Alonso aborde l'acquisition de l'article défini dans le langage enfantin. Les articles suivants se réunissent autour du domaine de l'interprétation: Jana Zidar Forte présente une approche actuelle dans l'entrainement d'interprètes, Lea Burjan analyse les phénomènes issus de la pratique de l'interprétation juridique et Simona  Šumrada traite de la reformulation dans le discours de la traduction et de

Ecosystem service valuations of mangrove ecosystems to inform decision making and future valuation exercises.

Directory of Open Access Journals (Sweden)

Nibedita Mukherjee

Full Text Available The valuation of ecosystem services is a complex process as it includes several dimensions (ecological, socio-cultural and economic and not all of these can be quantified in monetary units. The aim of this paper is to conduct an ecosystem services valuation study for mangroves ecosystems, the results of which can be used to inform governance and management of mangroves. We used an expert-based participatory approach (the Delphi technique to identify, categorize and rank the various ecosystem services provided by mangrove ecosystems at a global scale. Subsequently we looked for evidence in the existing ecosystem services literature for monetary valuations of these ecosystem service categories throughout the biogeographic distribution of mangroves. We then compared the relative ranking of ecosystem service categories between the monetary valuations and the expert based analysis. The experts identified 16 ecosystem service categories, six of which are not adequately represented in the literature. There was no significant correlation between the expert based valuation (the Delphi technique and the economic valuation, indicating that the scope of valuation of ecosystem services needs to be broadened. Acknowledging this diversity in different valuation approaches, and developing methodological frameworks that foster the pluralism of values in ecosystem services research, are crucial for maintaining the credibility of ecosystem services valuation. To conclude, we use the findings of our dual approach to valuation to make recommendations on how to assess and manage the ecosystem services provided by mangrove ecosystems.

Ecosystem service valuations of mangrove ecosystems to inform decision making and future valuation exercises.

Science.gov (United States)

Mukherjee, Nibedita; Sutherland, William J; Dicks, Lynn; Hugé, Jean; Koedam, Nico; Dahdouh-Guebas, Farid

2014-01-01

The valuation of ecosystem services is a complex process as it includes several dimensions (ecological, socio-cultural and economic) and not all of these can be quantified in monetary units. The aim of this paper is to conduct an ecosystem services valuation study for mangroves ecosystems, the results of which can be used to inform governance and management of mangroves. We used an expert-based participatory approach (the Delphi technique) to identify, categorize and rank the various ecosystem services provided by mangrove ecosystems at a global scale. Subsequently we looked for evidence in the existing ecosystem services literature for monetary valuations of these ecosystem service categories throughout the biogeographic distribution of mangroves. We then compared the relative ranking of ecosystem service categories between the monetary valuations and the expert based analysis. The experts identified 16 ecosystem service categories, six of which are not adequately represented in the literature. There was no significant correlation between the expert based valuation (the Delphi technique) and the economic valuation, indicating that the scope of valuation of ecosystem services needs to be broadened. Acknowledging this diversity in different valuation approaches, and developing methodological frameworks that foster the pluralism of values in ecosystem services research, are crucial for maintaining the credibility of ecosystem services valuation. To conclude, we use the findings of our dual approach to valuation to make recommendations on how to assess and manage the ecosystem services provided by mangrove ecosystems.

Évaluation de l'incidence du libre accès au droit sur la compétence ...

International Development Research Centre (IDRC) Digital Library (Canada)

Le domaine de programme Technologies de l'information et de la communication au service du développement (TIC-D) du CRDI a soutenu des centres ... Bien que plusieurs projets de libre diffusion du droit aient vu le jour de par le monde, jusqu'à maintenant, aucune recherche n'a visé à mieux comprendre les incidences ...

Valuation of Transactive Systems

Energy Technology Data Exchange (ETDEWEB)

Hammerstrom, Donald J. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Corbin, Charles D. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Fernandez, Nicholas [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Homer, Juliet S. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Makhmalbaf, Atefe [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Pratt, Robert G. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Somani, Abhishek [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Gilbert, Erik I. [Navigant Consulting, Boulder, CO (United States); Chandler, Shawn [Navigant Consulting, Portland, OR (United States); Shandross, Richard [Navigant Consulting, Burlington, MA (United States)

2016-05-12

This is a final report from a project funded by the U.S. Department of Energy to formulate and test a methodology for valuation of systems where transaction-based mechanisms coordinate the exchange of value between the system’s actors. Today, the principal commodity being exchanged is electrical energy, and such mechanisms are called transactive energy systems. The authors strove to lay a foundation for meaningful valuations of transactive systems in general, and transactive energy systems as a special case. The word valuation is used in many different ways. This report proposes a valuation methodology that is inclusive of many types of valuations. Many will be familiar with cost-benefit valuations, in which both costs and benefits are assessed to determine whether the assets are worth their cost. Another set of valuation methods attempt to optimize an outcome using available resources, as is the case with integrated resource planning. In the end, this report’s methodology was most influenced by and most resembles the integrated-resource-planning approach. Regardless, we wish to enforce the premise that all valuations are comparative and should clearly specify a baseline scenario. A long, annotated list of prior valuation studies and valuation methodologies that influenced this report has been appended to this report. Much research is being conducted today concerning transactive systems, but only a handful of transactive system mechanisms have been formulated and field tested. They are found to be quite diverse, and the documentation of the various mechanisms is uneven in breadth and quality. It is therefore not adequate to simply assert that a valuation scenario includes a transactive system; certain characteristics and qualities of the chosen transactive system mechanism must be defined and stated. The report lists and discusses most of the known transactive system mechanisms. It offers a set of questions that may be used to help specify important

Consumption-based Equity Valuation

DEFF Research Database (Denmark)

Bach, Christian; Christensen, Peter O.

2016-01-01

implementations of standard valuation models, both in terms of median absolute valuation errors (MAVE) and in terms of excess returns on simple investment strategies based on the differences between model and market prices. The CCAPM-based valuation model yields a significantly lower MAVE than the best performing...... standard valuation model. Both types of models can identify investment strategies with subsequent excess returns. The CCAPM-based valuation model yields time-series of realized hedge returns with more and higher positive returns and fewer and less negative returns compared with the time-series of realized...... through a risk-adjusted cost of equity in the denominator. The risk adjustments are derived based on assumptions about the time-series properties of residual income returns and aggregate consumption rather than on historical stock returns. We compare the performance of the model with several...

Évaluation des efforts de réduction de la violence en Afrique du Sud ...

International Development Research Centre (IDRC) Digital Library (Canada)

21 juil. 2015 ... L'évaluation des interventions complexes de réduction de la violence comporte de multiples défis, qu'il s'agisse de négocier des relations entre des partenaires aux objectifs différents ou de favoriser l'engagement et l'acception de la communauté en ce qui a trait au processus.

Industry Valuation Driven Earnings Management

NARCIS (Netherlands)

T. Jiao (Tao); G.M.H. Mertens (Gerard); P.G.J. Roosenboom (Peter)

2007-01-01

textabstractThis paper investigates whether industry valuation impacts firms’ earnings management decisions. Existing accounting literature assumes that industry valuation has a constant impact on this decision. We argue that a higher industry valuation increases the perceived benefits of earnings

The gold analyser: a tool for valuation and a means for improved mining decisions

International Nuclear Information System (INIS)

Stewart, J.M.; Nami, M.

1986-01-01

The erratic values of gold grade in Witwatersrand placer deposits necessitates the collection of large numbers of samples for accurate valuation and ore reserve estimation. Owing to manpower requirements current sampling techniques do not allow for the collection of sufficiently large numbers of samples. A portable gold analyser, which is at an advanced stage of development, is expected to alleviate this problem. It is a lightweight instrument, intended for one-man operation, and is based on energy dispersive X-ray fluorescence principles for determining gold and other mineral concentrations. The instrument is designed for in situ face scanning operations and provides a direct readout and internal storage of the measured gold concentration. The immediate availability of an estimate of gold grade should significantly improve the quality of short-term panel-scale mining decisions. Data are presented to show the improved precision in valuation using the gold analyser instead of conventional chip sampling

Activité antérieure – Évaluation faite par le CRDI à la Conférence du ...

International Development Research Centre (IDRC) Digital Library (Canada)

15 avr. 2016 ... Le groupe d'experts a invité des collaborateurs, notamment Miguel Jaramillo, du groupe pour l'analyse du développement, et Natalia Aquilino, du Centro de Implementación de Políticas Públicas para la Equidad y el Crecimiento (Centre de mise en oeuvre des politiques publiques pour l'équité et la ...

Integral geometry and valuations

CERN Document Server

Solanes, Gil

2014-01-01

Valuations are finitely additive functionals on the space of convex bodies. Their study has become a central subject in convexity theory, with fundamental applications to integral geometry. In the last years there has been significant progress in the theory of valuations, which in turn has led to important achievements in integral geometry. This book originated from two courses delivered by the authors at the CRM and provides a self-contained introduction to these topics, covering most of the recent advances. The first part, by Semyon Alesker, is devoted to the theory of convex valuations, with emphasis on the latest developments. A special focus is put on the new fundamental structures of the space of valuations discovered after Alesker's irreducibility theorem. Moreover, the author describes the newly developed theory of valuations on manifolds. In the second part, Joseph H. G. Fu gives a modern introduction to integral geometry in the sense of Blaschke and Santaló, based on the notions and tools presented...

Évaluation du potentiel de germination de Moringa oleifera dans la ...

African Journals Online (AJOL)

SARAH

28 févr. 2014 ... graines. Au regard des résultats des travaux de. Quashie et al., (2009) in vitro ou en serre, la présence de la lumière raccourcit le temps de germination tout en réduisant de 10 à 20%, les taux cumulés de germination. Ces résultats expliqueraient le faible taux de germination ainsi que la durée du délai de ...

Cross currency swap valuation

OpenAIRE

Boenkost, Wolfram; Schmidt, Wolfgang M.

2004-01-01

Cross currency swaps are powerful instruments to transfer assets or liabilities from one currency into another. The market charges for this a liquidity premium, the cross currency basis spread, which should be taken into account by the valuation methodology. We describe and compare two valuation methods for cross currency swaps which are based upon using two different discounting curves. The first method is very popular in practice but inconsistent with single currency swap valuation methods....

Exercices de grammaire A1 du cadre européen

CERN Document Server

Beaulieu, Christian

2005-01-01

Destiné à de grands adolescents ou des adultes, ce cahier propose des exercices de grammaire à faire en classe ou en autonomie. Tous les exercices répondent aux exigences du niveau A1 du Cadre européen commun de référence pour les tangues. Une structure en 5 unités : Le groupe nominal, le groupe verbal, les mots invariables, la phrase, Exprimez. Des exercices variés, illustrés, au champ Lexical homogène et classés selon un ordre de difficulté progressive. Une approche des situations de communication réelle grâce à de nombreux exercices contextualisés et des documents authentiques. 20 Evaluations (1 à 3 pages d'exercices récapitulatifs) pour l'autoévaluation de l'apprenant.

The valuation of environmental goods in Norway: A contingent valuation study with multiple bias testing

Energy Technology Data Exchange (ETDEWEB)

Strand, J.; Taraldset, A.

1991-12-31

We report on a study of contingent valuation of reduction in air pollution, and of a broader set of six environmental issues, among a population sample in Oslo. We derive an estimate of the extent of upward bias due to ``mental accouting`` in the expressed valuation of the air pollution issue, in two steps: (1) by comparing valuation of air pollution alone, with the same when the other issues at the same time are to be dealt with; and (2) by deriving the implicit valuation of the air pollution issue from the ranking of issues, and total valuation of all six issues. We find that expressed valuation of air pollution reductions are 3-4 times as high as the ``true`` values, and argue that this discrepancy is mainly due to mental account biases. We also test for strategic, starting point, information and interviewer biases, which are all present and, with the exception of the information bias, all in the expected directions. 9 refs., 4 tabs.

Valuation relationships under growth

OpenAIRE

Benavides Franco, Julián

2003-01-01

One of the most important topics on valuation is the appropriate relationships between cash flows and rate of returns. I review those relationships under the premise, by Myers (1974), of the cost of debt as the right discount for the tax shield. Different hypotheses have been advanced for the tax shield risk, each one producing different valuation results, especially when growth is present. The consequences of some common mistakes on valuation are explored. One difference between the results ...

The Organizational Valuation of Valuation Devices: Putting Lean whiteboard management to work in a hospital department

Directory of Open Access Journals (Sweden)

Amalie Martinus Hauge

2016-12-01

Full Text Available This paper is about the interplay between multiple modes of valuation. The paper engages with the question of how a valuation device intersects with the working values of an organization. While the many studies of valuation practices have drawn attention to the pervasive effects of valuation devices, only a few studies have taken into account the fact that many spaces, including organizations, are already filled with practices and ideas that constitute what is valuable. Revisiting classical organization theory, this paper shows that organizations comprise multiple, more - or less - integrated modes of valuation. Empirically, the paper draws on an ethnographic study of Lean management at a children's hospital, which is presented through analytical snapshots. The paper suggests that an organizational turn is relevant for valuation studies, as this fi rst allows an analytical expansion to include less 'deviced' valuations, contributes to the ongoing culture vs. device debate offering an alternative to the causal analysis of devices and effects without making the 'ineffable culture' what makes or breaks the causality.

Use of Multicriteria Valuation of Spatial Units in a System of Mass Real Estate Valuation

Directory of Open Access Journals (Sweden)

Miroslav Kuburić

2012-05-01

Full Text Available A model of mass valuation at the national level must be functional, practically applicable, consistent and adaptable to actual conditions and real estate market trends. A consideration of the influence of location on real estate value in a spatial unit, and a description of spatial units with a sufficient number of attributes to determine a connection between the value of these attributes and the average price of real estate in a spatial unit, are important tasks in modelling a system of mass real estate valuation. This paper, based on a test implementation of mass real estate valuation for an area covering a number of municipalities in the Republic of Serbia, offers conclusions on the suitability of the use of a mass valuation method grounded in the principles of logical aggregation and case based reasoning. The values of location characteristics, or factors of spatial unit valuation, were determined in spatial analyses employing GIS, according to an established system of multicriteria valuation. This approach ensures that a model-defined value is not stored as offline data, but that each time such data is needed, it can be determined following the proposed methodology, based on actual, updated data from the databases of official spatial data registries. Prior to this, it is necessary to meet all the required prerequisites, which include the distributed databases of official real estate data registries and other factors needed in the mass valuation procedure. Keywords: real estate valuation; spatial units; multicriteria analysis

THEORETICAL ASPECTS REGARDING THE VALUATION OF INTANGIBLE ASSETS

OpenAIRE

HOLT GHEORGHE

2015-01-01

Valuation of intangible assets represents one of the most delicate problems of assessing a company. Usually, valuation of intangible assets is in the process of evaluating enterprise as a whole. Therefore, Intangible Asset Valuers must have detailed knowledge on business valuation, in particular, the income-based valuation methods (capitalization / updating net cash flow). Valuation of Intangible Assets is the objective of the International Valuation Standards (GN) 4 Valuation of Intangible A...

VALUATION METHODS- LITERATURE REVIEW

OpenAIRE

Dorisz Talas

2015-01-01

This paper is a theoretical overview of the often used valuation methods with the help of which the value of a firm or its equity is calculated. Many experts (including Aswath Damodaran, Guochang Zhang and CA Hozefa Natalwala) classify the methods. The basic models are based on discounted cash flows. The main method uses the free cash flow for valuation, but there are some newer methods that reveal and correct the weaknesses of the traditional models. The valuation of flexibility of managemen...

The valuation of environmental goods in Norway: A contingent valuation study with multiple bias testing

Energy Technology Data Exchange (ETDEWEB)

Strand, J.; Taraldset, A.

1991-01-01

We report on a study of contingent valuation of reduction in air pollution, and of a broader set of six environmental issues, among a population sample in Oslo. We derive an estimate of the extent of upward bias due to mental accouting'' in the expressed valuation of the air pollution issue, in two steps: (1) by comparing valuation of air pollution alone, with the same when the other issues at the same time are to be dealt with; and (2) by deriving the implicit valuation of the air pollution issue from the ranking of issues, and total valuation of all six issues. We find that expressed valuation of air pollution reductions are 3-4 times as high as the true'' values, and argue that this discrepancy is mainly due to mental account biases. We also test for strategic, starting point, information and interviewer biases, which are all present and, with the exception of the information bias, all in the expected directions. 9 refs., 4 tabs.

Rational valuations

Directory of Open Access Journals (Sweden)

Georg Spielthenner

2007-01-01

Full Text Available Valuations are ubiquitous. We may be for or against genetically modified food; we find some politicians irresponsible; we prefer Beethoven to rock ‘n’ roll or vice versa; some enjoy bird-watching while others find it boring; and we may think that we have to tighten up on green-house gas emissions. Valuing is pervasive and often we are not even aware that we are valuing. However, many of ourvaluations are ill grounded and rationally defective. They are frequently based on misinformation, sloppy thinking, prejudice, and are biased in many ways as psychological research shows. For this reason there is widespread agreement among phi-losophers that we need an account of substantive valuational rationality, both for the theory of practical reasoning and for ethics as well. My main objectin this paper is to outline such an account and to present a principle that allows a non-technical rational criticism of valuations

Le FOS: une évaluation des ressources pédagogiques en ligne

Directory of Open Access Journals (Sweden)

Nuria Rodríguez

2007-04-01

Full Text Available Conscients de l’importance croissante que revêtent la formation en distanciel et par voie de conséquence les méthodes, outils et activités articulées autour d’un apprentissage autonome, cette étude se propose d’évaluer l’ensemble des ressources pédagogiques en ligne mises à disposition de l’internaute apprenant. Comme les contenus interactifs et multimédia concernant le FLE (français langue étrangère sont innombrables, nous nous sommes centrés sur le français de spécialité (FOS: français sur objectifs spécifiques, en particulier, le français des affaires et du tourisme. Notre objectif étant de compléter un travail précédent portant sur l’évaluation des sites FOS, de nouveaux critères ont été considérés pour une utilisation optimale des ressources en jeu. Il s’avère qu’une bonne combinaison des outils pédagogiques disponibles sur Internet pourrait être une bonne option pour les apprenants du français des affaires, alors que les outils de formation interactive concernant le français du tourisme demeurent insuffisants pour garantir un apprentissage adéquat de cette langue spécifique.

EVALUATION DE L’IMPACT ENVIRONNEMENTAL : Evaluation des impacts du flux de transgènes de tolérance à différents herbicides à large spectre

Directory of Open Access Journals (Sweden)

Astoin Marie-Florence

2000-07-01

Full Text Available Ce texte est tiré du rapport « Introduction de variétés génétiquement modifiées de colza tolérantes à différents herbicides : évaluation des impacts agro-environnementaux et propositions de scénarios de gestion » établi par le Cetiom dans le cadre du moratoire sur les variétés génétiquement modifiées de colza. Les auteurs se réservent la possibilité d’ici publication définitive du rapport d’apporter des modifications à ce texte.

Equity Valuation

DEFF Research Database (Denmark)

Christensen, Peter Ove; Feltham, Gerald A.

-coupon interest rates. We show that standard estimates of the cost of capital, based on historical stock returns, are likely to be a significantly biased measure of the firm’s cost of capital, but also that the bias is almost impossible to quantify empirically. The new approach recognizes that, in practice......We review and critically examine the standard approach to equity valuation using a constant risk-adjusted cost of capital, and we develop a new valuation approach discounting risk-adjusted fundamentals, such as expected free cash flows and residual operating income, using nominal zero...

Évaluation des services rendus par les écosystèmes  en France

Directory of Open Access Journals (Sweden)

Philippe Blancher

2011-12-01

Full Text Available Cet article rend compte de la méthode d’évaluation des services écosystémiques appliquée au territoire français dans le cadre d’une approche exploratoire. S’inscrivant dans le sillage du ‘‘Millennium Ecosystem Assessment’’ (MA lancé par l’ONU, l’application de la démarche du MA à un territoire donné a conduit à l’élaboration de nouveaux outils d’analyse et de mesure des interactions entre nature et activités humaines à plusieurs échelles territoriales, à travers une projection cartographique des écosystèmes sur l’ensemble du territoire, un recensement des services rendus par les écosystèmes en France et une méthodologie pour leur quantification.This article introduces a method for the assessment of ecosystem services on the French territory. Following the U.N.-initiated Millennium Ecosystem Assessment framework, the implementation of an ecosystem assessment on a specific territory led to the conception of new tools for the analysis and the measurement of interactions between nature and human activities at different territorial scales, through the mapping of ecosystems, an identification of ecosystem services on the French territory and a methodology for their quantification.

Valuation methods within the framework of life cycle assessment

Energy Technology Data Exchange (ETDEWEB)

Finnveden, G.

1996-05-01

Life Cycle Assessment Valuation methods are discussed. Different approaches for valuation are discussed as well as presently available valuation methods in relation to: * the values involved in the valuation, * the LCA framework, and * different applications of LCA. Among the conclusions are: * ethical and ideological valuations are involved not only when applying valuation weighting factors, but also when choosing valuation method and also when choosing whether to perform a valuation weighting or not, * it can be questioned whether straight distance-to-target methods are valuation methods, * it is still an open question whether presently available valuation methods produce meaningful and reliable information, * further development of quantitative valuation methods could concentrate both on different types of monetarisation methods and panel methods, * in many applications of LCA, the expected result is an identification of critical areas rather than a one-dimensional score, reducing the need for valuation methods. 88 refs, 3 figs, 4 tabs

Time-consistent actuarial valuations

NARCIS (Netherlands)

Pelsser, A.A.J.; Salahnejhad Ghalehjooghi, A.

2016-01-01

Time-consistent valuations (i.e. pricing operators) can be created by backward iteration of one-period valuations. In this paper we investigate the continuous-time limits of well-known actuarial premium principles when such backward iteration procedures are applied. This method is applied to an

L'évaluation du fait technique : Une métaphysique pour l'hypersauvage contemporain

OpenAIRE

Gras , Alain

2010-01-01

International audience; LLe terme " évaluation " est porteur d'une ambiguïté dès l'origine car son contenu sémantique est double : donner un prix, ou une mesure, mais aussi " donner une valeur " entendu d'un point de vue éthique, la valeur dont parle Weber. Or la fascination pour la mesure occulte le fait que le choix des éléments à mesurer est subjectif et qu'en aucun cas la scientificité ne vient directement de l'observation de l'objet. Cette caractéristique subjective est tout simplement i...

ÉVALUATION ÉCONOMIQUE DES PLANS DE GESTION PISCICOLE.

Directory of Open Access Journals (Sweden)

ARMAND C.

2002-04-01

Full Text Available En France, la gestion de la pêche en eau douce est généralement confiée aux associations de pêcheurs qui agissent sous le contrôle de l’Etat. Le Conseil Supérieur de la Pêche a développé une méthode synthétique d’élaboration de plans de gestion piscicole qui favorisent la reproduction naturelle et le maintien des populations sauvages. Ces plans s’appuient sur des opérations de protection des habitats et de restauration du milieu dont il convient d’évaluer la rentabilité sociale. Ce qui conduit à estimer la valeur du poisson sauvage (c’est à dire né dans le milieu naturel, de parents eux-mêmes sauvages. Cette valeur intègre deux composantes principales, une valeur d’usage qui dérive de la pratique de la pêche et une valeur de non-usage qui découle de son existence même et qui intéresse une population plus vaste que celle des seuls pêcheurs. Les bénéfices potentiels engendrés par la présence de poissons sauvages sont estimés par la méthode d’évaluation contingente. Les résultats empiriques sont basés sur un échantillon de 1 629 pêcheurs qui ont participé à une enquête postale. Le Consentement A Payer (CAP pour le poisson sauvage est une fonction croissante du revenu, de la valeur du matériel et de la distance parcourue pour pêcher. De plus on note que les amateurs de brochets et de truites (espèces repères de l’étude ainsi que ceux qui pêcheraient plus souvent s’il y avait du poisson sauvage ont, toutes choses égales, par ailleurs un CAP plus élevé. La valeur moyenne du CAP varie selon le modèle retenu de 50 F à 100 F par pêcheur et par an. Ce CAP correspond à un concept de valeur totale qui inclut une composante de valeur d’usage et de valeur de non-usage. Certains pêcheurs sont prêts à payer sans pour autant marquer une préférence pour la pêche au poisson sauvage. Leur CAP est associé à une valeur de non-usage et correspond à la valeur d’existence du poisson

Valuation of international oil- and gas companies

International Nuclear Information System (INIS)

Osmundsen, Petter; Mohn, Klaus; Espedal, Harald; Loevaas, Kjell

2002-01-01

In Norway, stock exchange quotation of Statoil has led to increased interest in valuation of oil companies. This article goes through the theory of corporate valuation. Then it compares the theory with practice, where valuation largely is built on accounts-based indicators. Taking the oil companies as a case, the article describes and evaluates the valuation methods used by analysts and investment banks

L’évaluation du syndrome du Burnout chez les médecins en formation au CHU Ibn Rochd de Casablanca

Science.gov (United States)

El Kettani, Assiya; Serhier, Zineb; Othmani, Mohammed Bennani; Agoub, Mohamed; Battas, Omar

2017-01-01

Introduction Le Burnout est très répandu en milieu hospitalier et sa gravité est encore plus accrue chez les jeunes médecins. L'objectif est de déterminer la prévalence du burnout parmi les médecins en formation (internes et résidents) au CHU Ibn Rochd de Casablanca et chercher les facteurs associés. Méthodes Étude transversale descriptive menée en 2013- 2014 auprès d'un échantillon de 300 médecins à l'aide d'un questionnaire auto-administré; le burnout était évalué par la version française du Maslash Burnout Inventory (MBI). Résultats Un total de191 médecins a participé à l'étude (taux de réponse à 63,7%) avec une prédominance féminine à 79,1% et une moyenne d'âge de 26,7ans (ET = 3). Les scores moyens des sous-dimensions du MBI: l'épuisement émotionnel, la dépersonnalisation et l'accomplissement personnel étaient respectivement de (33,7 ± 10,7), (12,2 ± 6,5) et (30,6 ± 8,3). Le burnout sévère touchait 31,8% des participants. Il était associé aux problèmes de communication au sein de l'équipe soignante (p burnout sévère (p Burnout is very widespread in the hospital setting and it becomes much more severe in young physicians. The objective of this study aims to evaluate the prevalence of burnout among doctors in training (internal and residents) at the Ibn Rochd University Hospital, Casablanca and to identify factors associated with it. PMID:28979644

Three residual income valuation methods and discounted cash flow valuation

OpenAIRE

Fernandez, Pablo

2003-01-01

In this paper we show that the three residual Income models for equity valuation always yield the same value as the Discounted Cash Flow Valuation models. We use three residual income measures: Economic Profit, Economic Value Added (EVA) and Cash Value Added. We also show that economic profit and EVA are different, although Copeland, Koller and Murrin (2000, page 55) say that economic profit is a synonym of EVA. Specifically, we first show that the present value of the Economic Profit discoun...

FINANCIAL STATEMENTS ANALYSIS AND FIRMS’ VALUATION IN VIETNAM

OpenAIRE

Kim, Trang Thu

2009-01-01

Valuation is the central focus in fundamental analysis. This dissertation considers the usefulness of financial statements in predicting market values of companies in Vietnam stock market by adopting the valuation model constructed by Chung et al., (2001). The overview of Vietnam stock market; some definitions about financial statements, valuation; description of several basis valuation models and empirical evidence including the description of valuation model developed by Chung et al., (2001...

Pension plan asset valuation

OpenAIRE

Owadally, M. I; Haberman, S.

2001-01-01

Various asset valuation methods are used in the context of funding valuations. The motivation for such methods and their properties are briefly described. Some smoothed value or market-related methods based on arithmetic averaging and exponential smoothing are considered and their effect on funding is discussed. Suggestions for further research are also made.

The valuative tree

CERN Document Server

Favre, Charles

2004-01-01

This volume is devoted to a beautiful object, called the valuative tree and designed as a powerful tool for the study of singularities in two complex dimensions. Its intricate yet manageable structure can be analyzed by both algebraic and geometric means. Many types of singularities, including those of curves, ideals, and plurisubharmonic functions, can be encoded in terms of positive measures on the valuative tree. The construction of these measures uses a natural tree Laplace operator of independent interest.

Market-consistent actuarial valuation

CERN Document Server

Wüthrich, Mario V

2016-01-01

This is the third edition of this well-received textbook, presenting powerful methods for measuring insurance liabilities and assets in a consistent way, with detailed mathematical frameworks that lead to market-consistent values for liabilities. Topics covered are stochastic discounting with deflators, valuation portfolio in life and non-life insurance, probability distortions, asset and liability management, financial risks, insurance technical risks, and solvency. Including updates on recent developments and regulatory changes under Solvency II, this new edition of Market-Consistent Actuarial Valuation also elaborates on different risk measures, providing a revised definition of solvency based on industry practice, and presents an adapted valuation framework which takes a dynamic view of non-life insurance reserving risk.

THEORETICAL ASPECTS REGARDING THE VALUATION OF INTANGIBLE ASSETS

Directory of Open Access Journals (Sweden)

HOLT GHEORGHE

2015-03-01

Full Text Available Valuation of intangible assets represents one of the most delicate problems of assessing a company. Usually, valuation of intangible assets is in the process of evaluating enterprise as a whole. Therefore, Intangible Asset Valuers must have detailed knowledge on business valuation, in particular, the income-based valuation methods (capitalization / updating net cash flow. Valuation of Intangible Assets is the objective of the International Valuation Standards (GN 4 Valuation of Intangible Assets (revised 2010. Next to it was recently proposed GN 16 Valuation of Intangible Assets for IFRS reporting. International Accounting Standard (IAS 38 Intangible Assets prescribe the accounting treatment for intangible assets, analyze the criteria that an intangible asset must meet to be recognized, specific carrying amount of intangible assets and sets out requirements for disclosure of intangible assets. From an accounting perspective, relevant professional accounting standards and the following: IFRS 3 Business Combinations, IAS 36 Impairment of Assets and SFAS 157 fair value measurement, developed by the FASB. There is a more pronounced near the provisions of IAS 38 contained in GN 4. Therefore, a good professional intangible asset valuation must know thoroughly the conditions, principles, criteria and assessment methods recognized by those standards

Cost approach of health care entity intangible asset valuation.

Science.gov (United States)

Reilly, Robert F

2012-01-01

In the valuation synthesis and conclusion process, the analyst should consider the following question: Does the selected valuation approach(es) and method(s) accomplish the analyst's assignment? Also, does the selected valuation approach and method actually quantify the desired objective of the intangible asset analysis? The analyst should also consider if the selected valuation approach and method analyzes the appropriate bundle of legal rights. The analyst should consider if there were sufficient empirical data available to perform the selected valuation approach and method. The valuation synthesis should consider if there were sufficient data available to make the analyst comfortable with the value conclusion. The valuation analyst should consider if the selected approach and method will be understandable to the intended audience. In the valuation synthesis and conclusion, the analyst should also consider which approaches and methods deserve the greatest consideration with respect to the intangible asset's RUL. The intangible asset RUL is a consideration of each valuation approach. In the income approach, the RUL may affect the projection period for the intangible asset income subject to either yield capitalization or direct capitalization. In the cost approach, the RUL may affect the total amount of obsolescence, if any, from the estimate cost measure (that is, the intangible reproduction cost new or replacement cost new). In the market approach, the RUL may effect the selection, rejection, and/or adjustment of the comparable or guideline intangible asset sale and license transactional data. The experienced valuation analyst will use professional judgment to weight the various value indications to conclude a final intangible asset value, based on: The analyst's confidence in the quantity and quality of available data; The analyst's level of due diligence performed on that data; The relevance of the valuation method to the intangible asset life cycle stage and

Project valuation and investment decisions: CAPM versus arbitrage

OpenAIRE

Magni, Carlo Alberto

2007-01-01

This paper shows that (i) project valuation via disequilibrium NPV+CAPM contradicts valuation via arbitrage pricing, (ii) standard CAPM-minded decision makers may fail to profit from arbitrage opportunities, (iii) standard CAPM-based valuation violates value additivity. As a consequence, the standard use of CAPM for project valuation and decision making should be reconsidered.

Evaluation du risque d’accident vasculaire cérébral à l’aide de la logique floue.

OpenAIRE

BENCHERIF, Farah Nezha

2015-01-01

Ce projet s’inscrit dans le cadre d’une stratégie de prévention-santé publique par le suivi et l’évaluation du risque, une approche d’intelligence artificielle basée sur la logique floue a été mise en œuvre ,dans ce cadre une application informatique d’aide au diagnostique baptisée « eRisk » : « evaluation of eRisk » a été réalisée et évaluée à partir de données préexistantes ainsi que l’avis expert du médecin , les résultats encourageants ainsi obtenus sont une ébauche vers la...

Valuation of nature in conservation and restoration

NARCIS (Netherlands)

Swart, JAA; van der Windt, HJ; Keulartz, J

Valuation of nature is an important aspect of nature conservation and restoration. Understanding valuation in a broad sense may contribute to conservation strategies since it may lead to better support from society. In this article we propose a model of valuation with respect to conservation and

Valuation of Nature in Conservation and Restoration

NARCIS (Netherlands)

Keulartz, F.W.J.; Swart, S.; Windt, v.d. H.

2001-01-01

Valuation of nature is an important aspect of nature conservation and restoration. Understanding valuation in a broad sense may contribute to conservation strategies since it may lead to better support from society. In this article we propose a model of valuation with respect to conservation and

Prime divisors and noncommutative valuation theory

CERN Document Server

Marubayashi, Hidetoshi

2012-01-01

Classical valuation theory has applications in number theory and class field theory as well as in algebraic geometry, e.g. in a divisor theory for curves.  But the noncommutative equivalent is mainly applied to finite dimensional skewfields.  Recently however, new types of algebras have become popular in modern algebra; Weyl algebras, deformed and quantized algebras, quantum groups and Hopf algebras, etc. The advantage of valuation theory in the commutative case is that it allows effective calculations, bringing the arithmetical properties of the ground field into the picture.  This arithmetical nature is also present in the theory of maximal orders in central simple algebras.  Firstly, we aim at uniting maximal orders, valuation rings, Dubrovin valuations, etc. in a common theory, the theory of primes of algebras.  Secondly, we establish possible applications of the noncommutative arithmetics to interesting classes of algebras, including the extension of central valuations to nice classes of quantized a...

Evaluation en protection de l'enfance. Elaboration d'un jugement du risque de carences éducatives d'un enfant en échec scolaire et vivant dans une famille pauvre

OpenAIRE

Michalot , Thierry

2012-01-01

Atelier 22 : Travail social et bénévolat; L'objectif de cette recherche est de comprendre comment les travailleurs sociaux et les étudiants élaborent cognitivement une évaluation du risque de carences éducatives à partir de situations d'enfants rencontrant de graves difficultés scolaires. Plus particulièrement nous souhaitons vérifier de manière expérimentale si la formation professionnelle permet aux étudiants de construire une évaluation différente des professionnels et de mesurer l'importa...

Institutionalizing environmental valuation into policy

NARCIS (Netherlands)

Phelps, Jacob; Dermawan, Ahmad; Garmendia, Eneko

2017-01-01

Monetary valuation of the environment is increasingly embedded in policy. Despite broad claims that valuation is policy-relevant, there is widespread frustration that it has not widely improved environmental outcomes, that it obscures many other types of values, and presents unintended consequences.

12 CFR 950.10 - Collateral valuation; appraisals.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Collateral valuation; appraisals. 950.10...-BALANCE SHEET ITEMS ADVANCES Advances to Members § 950.10 Collateral valuation; appraisals. (a) Collateral valuation. Each Bank shall determine the value of collateral securing the Bank's advances in accordance with...

26 CFR 20.2032-1 - Alternate valuation.

Science.gov (United States)

2010-04-01

... alternate valuation method under section 2032, the property included in the decedent's gross estate on the..., the alternate valuation method applies to all property included in the gross estate and cannot be... elects the alternate valuation method under section 2432, all property interests existing at the date of...

le biofilmen industrielaitière:caractérisation facteur de dévellopement et élimination cas du biofilm de bacillus,cereus dans quelques laiteries de la région de Tlemcen

OpenAIRE

Malek, fadila

2013-01-01

En industrie agroalimentaire, le développement des biofilms sur les surfaces en contact avec les aliments peut-être à l’origine de la contamination des produits transformés. Ce qui conduit à la réduction de leur durée de vie et à des risques potentiels pour la santé du consommateur. La qualité précaire du lait pasteurisé produit à l’échelle nationale illustre bien cette situation. L’évaluation de la microflore du biofilm formé à la surface des équipements laitiers dans quelques laiteries d...

Reasons to value the health care intangible asset valuation.

Science.gov (United States)

Reilly, Robert F

2012-01-01

There are numerous individual reasons to conduct a health care intangible asset valuation. This discussion summarized many of these reasons and considered the common categories of these individual reasons. Understanding the reason for the intangible asset analysis is an important prerequisite to conducting the valuation, both for the analyst and the health care owner/operator. This is because an intangible asset valuation may not be the type of analysis that the owner/operator really needs. Rather, the owner/operator may really need an economic damages measurement, a license royalty rate analysis, an intercompany transfer price study, a commercialization potential evaluation, or some other type of intangible asset analysis. In addition, a clear definition of the reason for the valuation will allow the analyst to understand if (1) any specific analytical guidelines, procedures, or regulations apply and (2) any specific reporting requirement applies. For example, intangible asset valuations prepared for fair value accounting purposes should meet specific ASC 820 fair value accounting guidance. Intangible asset valuations performed for intercompany transfer price tax purposes should comply with the guidance provided in the Section 482 regulations. Likewise, intangible asset valuations prepared for Section 170 charitable contribution purposes should comply with specific reporting requirements. The individual reasons for the health care intangible asset valuation may influence the standard of value applied, the valuation date selected, the valuation approaches and methods applied, the form and format of valuation report prepared, and even the type of professional employed to perform the valuation.

26 CFR 26.2642-2 - Valuation.

Science.gov (United States)

2010-04-01

... reflects net appreciation and depreciation (occurring between the valuation date and the date of... on a basis that fairly reflects net appreciation and depreciation (occurring between the valuation...

VALUATION METHODS- LITERATURE REVIEW

Directory of Open Access Journals (Sweden)

Dorisz Talas

2015-07-01

Full Text Available This paper is a theoretical overview of the often used valuation methods with the help of which the value of a firm or its equity is calculated. Many experts (including Aswath Damodaran, Guochang Zhang and CA Hozefa Natalwala classify the methods. The basic models are based on discounted cash flows. The main method uses the free cash flow for valuation, but there are some newer methods that reveal and correct the weaknesses of the traditional models. The valuation of flexibility of management can be conducted mainly with real options. This paper briefly describes the essence of the Dividend Discount Model, the Free Cash Flow Model, the benefit from using real options and the Residual Income Model. There are a few words about the Adjusted Present Value approach as well. Different models uses different premises, and an overall truth is that if the required premises are real and correct, the value will be appropriately accurate. Another important condition is that experts, analysts should choose between the models on the basis of the purpose of valuation. Thus there are no good or bad methods, only methods that fit different goals and aims. The main task is to define exactly the purpose, then to find the most appropriate valuation technique. All the methods originates from the premise that the value of an asset is the present value of its future cash flows. According to the different points of view of different techniques the resulted values can be also differed from each other. Valuation models and techniques should be adapted to the rapidly changing world, but the basic statements remain the same. On the other hand there is a need for more accurate models in order to help investors get as many information as they could. Today information is one of the most important resources and financial models should keep up with this trend.

Valuation Studies 4(1) 2016

DEFF Research Database (Denmark)

2016-01-01

This issue of Valuation Studies presents an anthropological take on 'alternative valuations'. The three articles in this issue stem from a workshop held in August 2012 at James Cook University in Cairns, Australia. The workshop was organized by the guest editors of this issue along with Bruce...

VALEUR PATRIMONIALE DE SERRASALMINAE HERBIVORES DU HAUT MARONI (GUYANE FRANÇAISE : APPROCHES BIOLOGIQUE ET SOCIOCULTURELLE EN PAYS WAYANA.

Directory of Open Access Journals (Sweden)

PAGEZY H.

2002-01-01

Full Text Available La valeur patrimoniale des kumaru, espèces de poissons appartenant à la sous-famille des Serrasalminae, a été approchée selon des critères faisant référence à leur place au sein de la biodiversité ou de la sociodiversité. Du point de vue de l’anthropologue, les kumaru apparaissent indéniablement comme les espèces de poissons ayant globalement les plus fortes valeurs sociale, hédonique, économique, non seulement chez les Amérindiens Wayana du Haut Maroni, mais aussi chez les Noirs Boni du cours moyen. On peut les qualifier à ce titre d’espèces patrimoniales. Du point de vue du biologiste, les trois espèces de kumaru du Haut Maroni se situent à des niveaux d’endémicité différents, mais toutes participent au fonctionnement du biotope particulier des herbiers à Podostemaceae, au moins dans leurs jeunes stades. Au-delà de la simple conservation des espèces, le mode de distribution de l’asitau (Prosomyleus rhomboidalis et la position du watau yaikë (Tometes lebaili dans la phylogénie des Serrasalminae leur confèrent un ensemble de qualités entrant dans l’évaluation de leur valeur patrimoniale. L’habitat de ces espèces, milieu fragile et très particulier, participe aussi à la patrimonialité.

Arbitrage-free valuation of energy derivatives

International Nuclear Information System (INIS)

Amin, K.; Ng, V.; Pirrong, C.

1999-01-01

This chapter focuses on techniques available for valuing energy-contingent claims and develops an arbitrage-free framework to value energy derivatives. The relationship between the spot, forward and futures prices is explained. Option valuation with deterministic convenience yields is discussed using an extension of the Black (1976) framework, and details of the risk-neutral valuation of European options, and valuation of American and European-style options are given. Option valuations with stochastic convenience yields, the evolution of the term structure of convenience yield, and a tree approach to valuing American and other options are discussed. Applications and limitations of the models for pricing energy derivative products are considered. The stochastic differential equation for the futures prices when the convenience yields are stochastic is presented in an appendix

Evolution du système national d’information sanitaire de la république démocratique du Congo entre 2009 et 2015

Science.gov (United States)

Muhemedi, Saleh; Kabangu, Yakim; Mpeli, Faustin; Salumu, Salomon; Kabeya, Philippe; Okitolonda, Emile

2017-01-01

Introduction Lancé en 1987, le Système national d'information sanitaire (SNIS) de la République Démocratique du Congo (DR Congo) a été évalué en 2009 et 2015 moyennant l'outil HMN (Health metrics network). L'objectif de cette étude était d'estimer les progrès réalisés entre ces deux évaluations. Méthodes Il s'agissait d'une analyse des données secondaires des évaluations du SNIS, qui a consisté à comparer le degré de satisfaction par rapport aux six composantes de cet outil entre 2009 et 2015, à savoir; les ressources, les indicateurs, les sources de données, la gestion des données, les produits de l'information, la diffusion et l'utilisation des données. Résultats Entre 2009 et 2015, le degré de satisfaction des répondants a évolués de la manière suivante: 49% contre 61% pour les ressources; 73% vs 88% pour les indicateurs; 52% vs 61% pour les sources de données; 41% vs 45% pour la gestion des données; 74% contre 77% pour les produits de l'information et enfin 51% vs 51% pour la diffusion et l'utilisation des données. Dans l'ensemble, le score moyen est passé de 59% à 64% avec une mention « satisfaisante ». Conclusion Notre étude a montré que le SNIS de la RD Congo n'a pas significativement évolué entre 2009 et 2015, et n'était pas en mesure de fournir en temps réel l'information sanitaire fiable pour la prise de décision et la planification des programmes de santé. PMID:29629011

Évaluation de la cytogénotoxicité des sites de pollution du PONT et ...

African Journals Online (AJOL)

SARAH

31 mars 2015 ... pollution du PONT et d'ACCRON de la lagune de Porto-. Novo. CAKPO R. Arthur1, SAGBO Etienne1, MAMA Daouda2, SOUMANOU M. Mohamed3. 1Laboratoire de Chimie .... que le cancer, athérosclérose, les maladies.

Autonomie du groupe restreint et performance

Directory of Open Access Journals (Sweden)

Elke Nissen

2005-09-01

Full Text Available Un groupe est autonome lorsqu'il prend lui-même en charge sa gestion (Abric, 1996 et lorsque celle-ci fonctionne bien. L'autonomie du groupe restreint est une caractéristique revendiquée dans le cadre actuel de l'expansion de dispositifs collaboratifs à distance entre apprenants. La question qui se pose alors est de savoir si un groupe restreint autonome est plus performant qu'un groupe moins autonome. L'autonomie d'un groupe d'apprentissage en ligne est-elle en relation avec la qualité de la réalisation de la tâche ? Est-elle en relation avec les progrès réalisés par les membres du groupe ? Dans le cadre de notre étude expérimentale, menée dans deux dispositifs pédagogiques différents (l'environnement d'apprentissage Babbelnet et une formation sur la plate-forme Acolad, des étudiants ont réalisé en groupes restreints, avec l'accompagnement d'un tuteur, une tâche de type actionnel – en l'occurrence une rédaction en langue étrangère (allemand ou anglais. Pour ce faire, ils disposaient d'aides méthodologiques et linguistiques dans l'environnement pédagogique en ligne. Ils ont interagi par le biais d'Internet au moyen de différents outils de communication. Une analyse de l'interaction qui a eu lieu dans chaque groupe, l'évaluation des rédactions réalisées conjointement, deux tests réalisés respectivement avant et après la phase de travail en groupe ainsi qu'un formulaire auto-administré nous permettent de mettre en lien l'autonomie des groupes, d'une part, et leur performance, voire leur apprentissage, d'autre part. Au vu de cette étude, il apparaît que l'autonomie du groupe n'a pas d'influence directe sur l'apprentissage des groupes restreints. En revanche, un rapport est visible entre l'appréciation du fonctionnement du groupe par ses membres et l'évolution de la performance des groupes.

Method of Banks Valuation

OpenAIRE

Eva Horvátová

2010-01-01

Since there is not a special common framework for valuation banks and it gives possibilities to create establishment, improvement and adaptation of various approaches to measuring the value of banks and financial institutions. Most approaches banks valuation note the strong dependence of financial institutions value from market interest rates (Mishkin, F., Miller, WD, Copeland, T., Koller, T., Damodaran, A., and others). Each approache reflects greater or lesser degree of accuracy depending o...

Comparing 15D Valuation Studies in Norway and Finland-Challenges When Combining Information from Several Valuation Tasks.

Science.gov (United States)

Michel, Yvonne Anne; Augestad, Liv Ariane; Rand, Kim

2018-04-01

The 15D is a generic preference-based health-related quality-of-life instrument developed in Finland. Values for the 15D instrument are estimated by combining responses to three distinct valuation tasks. The impact of how these tasks are combined is relatively unexplored. To compare 15D valuation studies conducted in Norway and Finland in terms of scores assigned in the valuation tasks and resulting value algorithms, and to discuss the contributions of each task and the algorithm estimation procedure to observed differences. Norwegian and Finnish scores from the three valuation tasks were compared using independent samples t tests and Lin concordance correlation coefficients. Covariance between tasks was assessed using Pearson product-moment correlations. Norwegian and Finnish value algorithms were compared using concordance correlation coefficients, total ranges, and ranges for individual dimensions. Observed differences were assessed using minimal important difference. Mean scores in the main valuation task were strikingly similar between the two countries, whereas the final value algorithms were less similar. The largest differences between Norway and Finland were observed for depression, vision, and mental function. 15D algorithms are a product of combining scores from three valuation tasks by use of methods involving multiplication. This procedure used to combine scores from the three tasks by multiplication serves to amplify variance from each task. From relatively similar responses in Norway and Finland, diverging value algorithms are created. We propose to simplify the 15D algorithm estimation procedure by using only one of the valuation tasks. Copyright © 2018 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

26 CFR 20.7520-2 - Valuation of charitable interests.

Science.gov (United States)

2010-04-01

... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Valuation of charitable interests. 20.7520-2... Valuations § 20.7520-2 Valuation of charitable interests. (a) In general—(1) Valuation. Except as otherwise... such interests determined under § 20.7520-1. (2) Prior-month election rule. If any part of the property...

26 CFR 20.2031-9 - Valuation of other property.

Science.gov (United States)

2010-04-01

... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Valuation of other property. 20.2031-9 Section... Valuation of other property. The valuation of any property not specifically described in §§ 20.2031-2 to 20... future interest in property not subject to valuation in accordance with the actuarial principles set...

Carbon Sequestration in Forest Valuation

Directory of Open Access Journals (Sweden)

Kazak Jan

2016-03-01

Full Text Available Strong links between the condition of the environment and the economy have recently resulted in a number of actions aiming to implement environmental considerations in economic calculations. This is accompanied by the development of the concept of ecosystem services, characterizing the benefits that the environment provides humankind with. The identification of these services is reflected in their economic values. Hence, the concept of the valuation of ecosystem services. Therefore, if the service provided by the environment takes on a financial value, we can consider it as income from the property containing the analyzed ecosystem. Of course, in order to speak in practice of the income approach in the valuation of such properties, there must be actual financial flow as income for the real estate owner. However, in the era of big economic changes and the implementation of a number of financial instruments (e.g., subsidies for a particular use of property, trade of CO2 emission rights, it seems reasonable to consider the possibility of property valuation by the valuation of ecosystem services.

10 myths of healthcare business valuation.

Science.gov (United States)

Robeson, J David; Kaplan, Karin Chernoff

2008-10-01

*Acceptance of common myths regarding business valuations can undermine a hospital's efforts to successfully negotiate deals with physicians. *Hospitals need to clearly understand the nature of fair market value (FMV), the use of multiples, the "guideline company technique," whether the FMV can be based on acute care revenue stream, the physician compensation model used in the valuation, and the applicability of the physician's historical production level. *Other matters that warrant careful consideration include whether to tax effect, whether to pay for goodwill, and whether obsolescence can be accounted for in the valuation.

Demand Response Valuation Frameworks Paper

Energy Technology Data Exchange (ETDEWEB)

Heffner, Grayson

2009-02-01

While there is general agreement that demand response (DR) is a valued component in a utility resource plan, there is a lack of consensus regarding how to value DR. Establishing the value of DR is a prerequisite to determining how much and what types of DR should be implemented, to which customers DR should be targeted, and a key determinant that drives the development of economically viable DR consumer technology. Most approaches for quantifying the value of DR focus on changes in utility system revenue requirements based on resource plans with and without DR. This ''utility centric'' approach does not assign any value to DR impacts that lower energy and capacity prices, improve reliability, lower system and network operating costs, produce better air quality, and provide improved customer choice and control. Proper valuation of these benefits requires a different basis for monetization. The review concludes that no single methodology today adequately captures the wide range of benefits and value potentially attributed to DR. To provide a more comprehensive valuation approach, current methods such as the Standard Practice Method (SPM) will most likely have to be supplemented with one or more alternative benefit-valuation approaches. This report provides an updated perspective on the DR valuation framework. It includes an introduction and four chapters that address the key elements of demand response valuation, a comprehensive literature review, and specific research recommendations.

Assessment of Wetland Valuation Processes for Compensation in ...

African Journals Online (AJOL)

The issue of compensation has been debated in various fora; however compensation on wetland resources has not been given the primary place. Wetland valuation like any other type of valuation requires going through stages, which may be more complex than real estate valuation for compensation. This study therefore ...

Évaluation des caractéristiques mécaniques du polissoir en polyuréthanne utilisé comme porte abrasifs durant le processus du polissage du verre optique

Science.gov (United States)

Aliouane, T.; Bouzid, D.; Belkhir, N.; Bouzid, S.; Herold, V.

2005-05-01

La fabrication des composants en verre optique nécessite des moyens de grande précision dans les procédés de finition vue l'importance accordée à leur qualité.
Durant le processus de polissage des verres optiques, le polissoir est un élément clé et a un impact direct sur les performances des composants optiques, non seulement il est utilisé comme support de grains abrasifs mais il doit posséder la fonction de transmission de la pression aux grains. La connaissance de ses propriétés, essentiellement mécanique, est impérative afin d'obtenir un état de surface optimal des composants optiques destinés à remplir des fonctions très précises dans des appareils optiques très performants.
Dans cette étude, nous avons constaté que les propriétés des polissoirs en polyuréthanne tel que la dureté, le module d'élasticité et la densité varient au cours du polissage. Ce changement a des effets sur l'état de surface de verre optique, causé par le changement microstructural de la surface du polissoir (distribution et dimensions des pores) et par conséquent sur la quantité des abrasifs (en oxyde de cérium) insérée dans les pores, ce qui influe sur la quantité de verre enlevée et sur l'état de surface du composant.
Sur la base des résultats obtenus, il a été prouvé que le polissoir subit des modifications très importantes ce qui influe considérablement sur son efficacité de polissage.

Valuation of common and preferred stocks

Directory of Open Access Journals (Sweden)

Nikolić Ljubica

2014-01-01

Full Text Available Buying stocks is a modern way of investing. The investors may place the available capital on the domestic and foreign stock market, they may buy more stocks of a single issuer or distribute money to purchase stocks of various public (stock-exchange companies, and they may form a portfolio of various securities. The investors' decisions on these options are based on their estimate on returns and risks underlying individual security instruments (securities. The two basic approaches to valuation of common stocks are: the Present Value Approach (method of valuating the capitalization of income and the P/E Ratio Approach (the method of valuating the multiple of per-share earnings. Instead of viewing these methods as competing alternatives, they should better be viewed as mutually complementary methods. Both methods are equally useful and their concurrent use may provide better grounds for the analysts' valuation of stocks.

Valuation and creative accounting

Directory of Open Access Journals (Sweden)

Maria Madalina VOINEA

2014-06-01

Full Text Available This paper deals with the economic and financial valuation, that is the only type of valuation, based on a diagnosis and expertise, which has as objective to establish the market value of elements, whether goods or businesses, being a "orientation tool" for the economic operators on the market. There are specific means to measure value but there are also some mechanisms that can influence the value obtained, from the category of creative accounting. Creative accounting occurs due to human intervention and even the most advanced accounting systems are not able to do this due to the lack of reasoning. There must be also assumed that it is possible that these creative accounting techniques may be caused by a simple mistake and not necessarily with the intention of manipulating the financial results and reports. The aim of the paper is to see how specific element valuation can influence the general one, namely the value of a company.

Utilisation de données secondaires et signature scientifique lors de l'évaluation d'une intervention en santé mondiale

Directory of Open Access Journals (Sweden)

Valéry Ridde

2018-03-01

Full Text Available Dans le domaine de la santé mondiale, les bailleurs de fonds internationaux financent de nombreuses interventions dont ils souhaitent l'efficacité. Ils financent ainsi parfois des évaluations externes, le plus souvent menées par des chercheurs du Nord, pour en faire la démonstration. En outre, il existe de multiples bases de données, souvent collectées par les chercheurs du Sud, utiles pour réaliser ce type d'études. Mais cette multiplicité d'acteurs, de collaboration, d'enjeux et de potentiels conflits d'intérêts pose des défis importants sur le plan de l'utilisation de données secondaires et de la signature scientifiques des publications qui peuvent en découler. Cette étude de cas propose une réflexion à cet égard.

Equity Valuation

DEFF Research Database (Denmark)

Christensen, Peter Ove; Feltham, Gerald A.

, interest rates, expected equity returns, and inflation rates are all stochastic. We explicitly characterize the risk-adjustments to the fundamentals in an equilibrium setting. We show how the term structure of risk-adjustments depends on both the time-series properties of the free cash flows......-coupon interest rates. We show that standard estimates of the cost of capital, based on historical stock returns, are likely to be a significantly biased measure of the firm’s cost of capital, but also that the bias is almost impossible to quantify empirically. The new approach recognizes that, in practice......We review and critically examine the standard approach to equity valuation using a constant risk-adjusted cost of capital, and we develop a new valuation approach discounting risk-adjusted fundamentals, such as expected free cash flows and residual operating income, using nominal zero...

The contingent valuation method: a review

International Nuclear Information System (INIS)

Venkatachalam, L.

2004-01-01

The contingent valuation method (CVM) is a simple, flexible nonmarket valuation method that is widely used in cost-benefit analysis and environmental impact assessment. However, this method is subject to severe criticism. The criticism revolves mainly around two aspects, namely, the validity and the reliability of the results, and the effects of various biases and errors. The major objective of this paper is to review the recent developments on measures to address the validity and reliability issues arising out of different kinds of biases/errors and other related empirical and methodological issues concerning contingent valuation method

Élaboration d’indicateurs pour l’évaluation des collectivités-amies des aînés au Canada : démarche et résultats

Directory of Open Access Journals (Sweden)

H. Orpana

2016-01-01

Full Text Available Introduction : En 2006, l’Organisation mondiale de la Santé (OMS a lancé le projet mondial « Villes-amies des aînés » afin de favoriser un vieillissement actif. Si un grand nombre d’initiatives « amies des aînés » ont été mises en oeuvre au Canada, on dispose de peu d’information sur l’efficacité et les résultats des initiatives des collectivités-amies des aînés (CAA. En outre, les intervenants affirment qu’ils n’ont pas la capacité et les outils nécessaires pour élaborer et réaliser des évaluations relatives à leurs initiatives de CAA. Afin de pallier ces lacunes, l’Agence de la santé publique du Canada a mis au point des indicateurs pour l’évaluation des initiatives de CAA dans de nombreuses collectivités canadiennes. Ces indicateurs, destinés à répondre aux différents besoins des collectivités, ne sont pas conçus pour faire l’évaluation de répercussions collectives ou pour rendre possible une comparaison entre collectivités. Méthodologie : Une démarche de consultation itérative fondée sur des données probantes a été employée pour l’élaboration d’indicateurs relatifs aux CAA. Elle a nécessité une revue de la littérature et une analyse du contexte. Deux rondes de consultation auprès d’experts et d’intervenants clés ont été menées, ce qui a permis de classer les indicateurs potentiels en fonction de leur importance, de leur capacité à être mis en pratique et de leur faisabilité. Une liste définitive d’indicateurs et de mesures potentielles a ensuite été mise au point, en fonction des résultats de ces consultations et de considérations clés relatives aux politiques. Résultats : Trente-neuf indicateurs répartis en huit domaines relevant des CAA et quatre indicateurs relevant des résultats liés à la santé et aux conditions sociales à long terme ont été sélectionnés. Tous sont conformes à l’objectif énoncé, à savoir l’évaluation des

Stated Preference Methods for Valuation of Forest Attributes

Science.gov (United States)

Thomas P. Holmes; Kevin J. Boyle

2003-01-01

The valuation methods described in this chapter are based on the idea that forest ecosystems produce a wide variety of goods and services that are valued by people. Rather than focusing attention on the holistic value of forest ecosystems as is done in contingent valuation studies, attribute-based valuation methods (ABMs) focus attention on a set of attributes that...

Natural resource valuation: A primer on concepts and techniques

International Nuclear Information System (INIS)

Ulibarri, C.A.; Wellman, K.F.

1997-07-01

Natural resource valuation has always had a fundamental role in the practice of cost-benefit analysis of health, safety, and environmental issues. The authors provide an objective overview of resource valuation techniques and describe their potential role in environmental restoration/waste management (ER/WM) activities at federal facilities. This handbook considers five general classes of valuation techniques: (1) market-based techniques, which rely on historical information on market prices and transactions to determine resource values; (2) nonmarket techniques that rely on indirect estimates of resource values; (3) nonmarket techniques that are based on direct estimates of resource values; (4) cross-cutting valuation techniques, which combine elements of one or more of these methods; and (5) ecological valuation techniques used in the emerging field of ecological economics. The various valuation techniques under consideration are described by highlighting their applicability in environmental management and regulation. The handbook also addresses key unresolved issues in the application of valuation techniques generally, including discounting future values, incorporating environmental equity concerns, and concerns over the uncertainties in the measurement of natural resource values and environmental risk

COMPARATIVE ANALYSIS OF TAX OBJECT SALES VALUE ON LAND AND BUILDINGS WITH INDONESIAN VALUATION STANDARD (SIP-BASED VALUATION IN MALANG CITY

Directory of Open Access Journals (Sweden)

Gani I.F.

2017-08-01

Full Text Available This research aimed to explore how the valuation/appraisal in determining land and building values at Tax Object Sales Value on Land and Buildings (NJOP PBB in Malang City and to analyze the comparison between the valuation of Tax Object Sales Value on Land and Buildings (NJOP PBB conducted in Malang and the valuation of land and buildings according to Indonesian Valuation Standards (SPI. Through the qualitative research with a case study approach, it was obtained that the model of mass and individual appraisals on the valuation of Tax Object Sales Value on Land and Buildings (NJOP PBB had the similar stages to the individual appraisal according to Indonesian Valuation Standards (SPI. Furthermore, from the results, the problems faced in valuing Tax Object Sales Value on Land and Buildings (NJOP PBB by the Local Revenue Office of Malang City were also known. It can be used as a consideration for the improvement of regulation or procedure in valuing Tax Object Sales Value on Land and Buildings (NJOP PBB.

THEORETICAL FOUNDATIONS EFFICIENT MASS VALUATION

Directory of Open Access Journals (Sweden)

Koshel A.

2016-08-01

Full Text Available In the article the theoretical basis for determining the effectiveness of mass valuation of land in present-day conditions are described. The concept defenitsy effect and effectiveness as economic categories and their classification values for mass valuation of land are presented. The effectiveness of mass valuation of land in the settlements defines the structure of local budget and economic activities undertaken by local authorities on the basis of the results of the mass appraisal of real estate. Mass valuation is regular and it is characterized by high degree of standardization of procedures and a significant increase in the role of statistical methods for processing data related to the use of the most significant factors influencing the parameters of the object to its cost, as well as the need to determine the value of the objective laws change equivalent, which is only possible when using economic and mathematical methods and statistical analysis. Quality control results of mass valuation carried out principally in other ways, as obtained by applying statistical machine results can be checked as soon statistical methods. This shows the relevance of research topic and lack of elaboration for Ukraine problems of efficiency of mass land valuation. Scientific research conducted through the use of the dialectical method and techniques of abstraction, comparative analysis and synthesis, the article various models and methods of valuation of land for taxation purposes are analyzed. In addition, the group explored methods used, comparisons, and more. In economic theory and practice problems and determine the effect of efficiency aimed at profit is quite relevant. Economists consider cost-effectiveness, such as economic efficiency. In this case, the production can be attributed to the activities to conduct and organization of mass valuation of land. This pushes many different positions on criteria and indicators of economic efficiency, the

Valuation of rangeland ecosystem services

Science.gov (United States)

Gascoigne, W.R.

2011-01-01

Economic valuation lends itself well to the anthropocentric orientation of ecosystem services. An economic perspective on ecosystems portrays them as natural assets providing a flow of goods and services valuable to individuals and society collectively. A few examples include the purification of drinking water, reduced risk from flooding and other extreme events, pollination of agricultural crops, climate regulation, and recreation opportunities from plant and animal habitat maintenance, among many others. Once these goods and services are identified and quantified, they can be monetized to complete the valuation process. The monetization of ecosystem goods and services (in the form of dollars) provides a common metric that allows for cross-comparison of attributes and evaluation of differing ecological scenarios. Complicating the monetization process is the fact that most of these goods and services are public and non-market in nature; meaning they are non-rival and non-exclusive and are typically not sold in a traditional market setting where monetary values are revealed. Instead, one must employ non-market valuation techniques, with primary valuation methods typically being very time and resource consuming, intimidating to non-economists, and often impractical. For these reasons, benefit transfer methods have gained popularity. This methodology harnesses the primary collection results of existing studies to make inferences about the economic values of non-market goods and services at an alternative policy site (in place and/or in time). For instance, if a primary valuation study on oak reestablishment on rangelands in southern California yielded a value of $30 per-acre associated with water regulation, this result can be transferred, with some adjustments, to say something about the value of an acre of oaks on rangelands in northern portions of the state. The economic valuation of rangeland ecosystem services has many roles. Economic values may be used as input

SalMar ASA : Strategic analysis and valuation

OpenAIRE

Augenstein, Daniel

2017-01-01

The objective of this thesis is to estimate the theoretical value of equity for SalMar ASA and thereby the value per share at 27.11.2017. Fundamental valuation through a two-stage discounted cash flow model is chosen as the main method, while a valuation using comparable firms is performed as a supplement. In the fundamental valuation I have estimated the enterprise value by discounting the expected future cash flows to present value. To find the value of equity, the net-intere...

Intelligent databases assist transparent and sound economic valuation of ecosystem services.

Science.gov (United States)

Villa, Ferdinando; Ceroni, Marta; Krivov, Sergey

2007-06-01

Assessment and economic valuation of services provided by ecosystems to humans has become a crucial phase in environmental management and policy-making. As primary valuation studies are out of the reach of many institutions, secondary valuation or benefit transfer, where the results of previous studies are transferred to the geographical, environmental, social, and economic context of interest, is becoming increasingly common. This has brought to light the importance of environmental valuation databases, which provide reliable valuation data to inform secondary valuation with enough detail to enable the transfer of values across contexts. This paper describes the role of next-generation, intelligent databases (IDBs) in assisting the activity of valuation. Such databases employ artificial intelligence to inform the transfer of values across contexts, enforcing comparability of values and allowing users to generate custom valuation portfolios that synthesize previous studies and provide aggregated value estimates to use as a base for secondary valuation. After a general introduction, we introduce the Ecosystem Services Database, the first IDB for environmental valuation to be made available to the public, describe its functionalities and the lessons learned from its usage, and outline the remaining needs and expected future developments in the field.

Valuation of Non-Life Liabilities from Claims Triangles

Directory of Open Access Journals (Sweden)

Mathias Lindholm

2017-07-01

Full Text Available This paper provides a complete program for the valuation of aggregate non-life insurance liability cash flows based on claims triangle data. The valuation is fully consistent with the principle of valuation by considering the costs associated with a transfer of the liability to a so-called reference undertaking subject to capital requirements throughout the runoff of the liability cash flow. The valuation program includes complete details on parameter estimation, bias correction and conservative estimation of the value of the liability under partial information. The latter is based on a new approach to the estimation of mean squared error of claims reserve prediction.

The valuation of environmental externalities in energy conservation planning

International Nuclear Information System (INIS)

Chernick, P.L.; Caverhill, E.J.

1990-01-01

The determination of the full societal costs of energy usage must incorporate estimates of the environmental effects, or externalities, of energy production and delivery. An externality is any cost or benefit that is not reflected in the price paid by a utility or its customers for energy produced or consumed. The potential variety and scope of externality analyses are discussed. Four methods of externality valuation are briefly discussed to highlight the uses, strengths and pitfalls of each method. The use of pollutants' relative potency, polling of experts, direct estimation of costs, and implied valuation, are compared. The authors preferred method of valuation for near-term energy supply decisions, implied valuation, is discussed in detail. The distinguishing feature of the implied valuation technique is its use of the cost of control, rather than the direct cost of emissions. Only the most expensive required control measure is relevant to valuation of the external effects. The difficulties in applying implied valuation, such as the definition of the margin, the multiple effects of pollutants and the imperfect nature of the regulatory system, are also considered. The effect of environmental externalities on the benefits of conservation are summarized

Analyse et évaluation de l’argumentation dans l’analyse critique du discours (CDA : délibération et dialectique des Lumières Analysis and Evaluation of Argumentation in Critical Discourse Analysis: Deliberation and the Dialectic of Enlightenment

Directory of Open Access Journals (Sweden)

Norman Fairclough

2012-10-01

Full Text Available Cet article représente le développement de notre récent travail sur le discours politique, centré sur les réactions politiques à l’actuelle crise financière et économique en Grande-Bretagne. Considérant le discours politique comme doté d’un caractère essentiellement argumentatif, et plus spécifiquement comme une forme d’argumentation et de délibération pratiques, nous soutenons qu’une analyse critique de ce discours appelle à intégrer la théorie et l’analyse de l’argumentation à la version de l’analyse critique du discours (CDA avec laquelle nous travaillons. La présentation de cette version de la CDA, et de notre approche de l’analyse et de l’évaluation de l’argumentation et de la délibération pratiques, est suivie d’une illustration de la démarche. Celle-ci se réfère à une partie du discours sur le Budget prononcé en juin 2010 par Georges Osborne, Chancelier de l’Echiquier du gouvernement britannique de coalition entre conservateurs et libéraux démocrates, et à la mise en cause critique de la stratégie d’austérité du gouvernement qui eu lieu dans le débat public, particulièrement dans les média. Dans la dernière partie de cet article, nous avançons que notre approche innovatrice de l’analyse et de l’évaluation de l’argumentation et de la délibération pratiques contribue de manière particulièrement efficace à promouvoir l’objectif de la CDA : étendre au discours les formes de critique répandues dans le champ de la théorie sociale critique. Nous nous appuyons pour ce faire sur les débats qui traitent des rapports entre critique et rationalité. Nous posons que l’approche normative que nous adoptons est nécessaire pour intégrer l’analyse du discours argumentatif à la critique, et que notre démarche est en parfait accord avec les objectifs de la théorie critique, du moins tels que Habermas les conçoit.This paper is a development of our recent work on

Currency Valuation and Purchasing Power Parity

OpenAIRE

Jamal Ibrahim Haidar

2011-01-01

This paper aims to highlight key limitations of The Economist magazine’s Big Mac Index (BMI). The Economist markets the BMI as a tool to determine valuation of currencies. This paper shows that the BMI is a misleading measure of currency valuation for economies whose markets are structurally different from the benchmark currency countries.

Prise en charge des traumatismes graves du rein

Science.gov (United States)

Lakmichi, Mohamed Amine; Jarir, Redouane; Sadiki, Bader; Zehraoui; Bentani; Wakrim, Bader; Dahami, Zakaria; Moudouni; Sarf, Ismail

2015-01-01

Les traumatismes graves du rein de grade III, IV et V selon la classification de l'Amercan Society for Surgery For Trauma (ASST) sont plus rares et se retrouvent dans 5% des cas en moyenne. Leur prise en charge est souvent délicate, nécessitant alors des centres expérimentés dotés de moyen adéquats d'imagerie (scanner spiralé). Cependant, durant ces dernières années, la prise en charge de ces traumatismes a évolué vers une attitude de moins en moins chirurgicale grâce à l’évolution des techniques de la radiologie interventionnelle, de l'endourologie et des moyens de surveillance aux urgences et de réanimation. L'objectif de cette étude est d’évaluer notre expérience dans la prise en charge des traumatismes rénaux de haut grade. Notre étude rétrospective porte sur 25 cas de traumatismes grave du rein de grade III, IV et V selon la classification de l'ASST, colligés entre Janvier 2002 et Juin 2009 au service d'urologie du centre Hospitalier Universitaire Mohammed VI, Université Cadi Ayyad de Marrakech, Maroc. Nous avons étudié les données épidémiologiques, les signes cliniques et biologiques à l'admission (état de choc hémorragique, taux d'hémoglobine), les données radiologiques (échographie et scanner), les lésions associées, la prise en charge thérapeutique et les complications. L’âge moyen de nos patients était de 24,9 ans 15 et 58 ans, avec une prédominance masculine (sex-ratio = 7, 3). Le rein droit était intéressé dans 15 cas (60%). Le traumatisme rénal était fermé dans 15 cas, et ouvert par arme blanche dans 10 cas. Huit patients se sont présentés en état de choc hémorragique (32%). Une anémie inférieur à 10g /100ml a été observée dans 10 cas (40%). L'uroscanner fait systématiquement à l'admission a retrouvé un grade III (10 cas), grade IV (13 cas) et grade V (2 cas). La prise en charge a consisté en une exploration chirurgicale avec néphrectomie chez 2 cas de Grade IV pour une instabilité h

Five essays in property valuation

OpenAIRE

Yang, Zan

2000-01-01

This doctoral thesis consists of five self-contained essayspresented to the Faculty Board of the Royal Institute ofTechnology. Property valuation is a central issue that forms acommon thread in the analysis in these essays. In the thesisproperty is considered in a mixed asset context in an attemptto build a bridge between valuation, property investment andfinancial theory. The object of the thesis is to value propertyfor finance, sales and purchases and investment. Theinvestigation of the the...

Option valuation for energy issues

International Nuclear Information System (INIS)

Ostertag, K.; Llerena, P.; Richard, A.

2004-01-01

In many industrial and economic situations, decision processes, both individual and collective, have to simultaneously face uncertainty and irreversibility of some kind. This is particularly valid for energy choices if they are linked to technological alternatives. The purpose of this book is to highlight specific aspects of these situations. This is done from the particular perspective of option valuation. The contributions to this book grew out of an international workshop on ''Option valuation in energy and environmental issues'' held at the Fraunhofer ISI in February 2003. This workshop brought together reseachers from energy economics, but also researchers working on option valuation in other empirical fields or with a more theoretical perspective. This is reflected in the organisation of the book, which starts with some theory-oriented contributions and subsequently presents more applied contributions in the field of energy economics with an extension to water infrastructure in the annex. (orig.)

Societal and economic valuation of technology-transfer deals

Science.gov (United States)

Holmes, Joseph S., Jr.

2009-09-01

The industrial adoption of concepts such as open innovation brings new legitimacy to activities technology-transfer professionals have conducted for over 20 years. This movement highlights the need for an increased understanding of the valuation of intellectual property (IP) and technology-transfer deals. Valuation, though a centerpiece of corporate finance, is more challenging when applied to the inherent uncertainty surrounding innovation. Technology-transfer professionals are often overwhelmed by the complexity and data requirements of valuation techniques and skeptical of their applicability to and utility for technology transfer. The market longs for an approach which bridges the gap between valuation fundamentals and technology-transfer realities. This paper presents the foundations of a simple, flexible, precise/accurate, and useful framework for considering the valuation of technology-transfer deals. The approach is predicated on a 12-factor model—a 3×4 value matrix predicated on categories of economic, societal, and strategic value. Each of these three categories consists of three core subcategories followed by a fourth "other" category to facilitate inevitable special considerations. This 12-factor value matrix provides a framework for harvesting data during deals and for the application of best-of-breed valuation techniques which can be employed on a per-factor basis. Future work will include framework implementation within a database platform.

26 CFR 20.2032-1T - Alternate valuation (temporary).

Science.gov (United States)

2010-04-01

...) the value of the property as of the alternate valuation date. For example, assume that the decedent... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Alternate valuation (temporary). 20.2032-1T...-1T Alternate valuation (temporary). (a) through (e) [Reserved] For further guidance, see § 20.2032-1...

Participatory Environmental Valuation: A Comparative Analysis of Four Case Studies

Directory of Open Access Journals (Sweden)

Leslie Carnoye

2015-07-01

Full Text Available The valuation of multiple ecosystem services requires the design of valuation processes able to integrate different dimensions of value and to cope with complexity. Following the “value-articulating institution” framework, we note that three core problems arise: the cognitive, normative and composition problems. Combining valuation methods, such as contingent valuation and multicriteria analysis, with participatory and deliberative techniques is increasingly promoted as a means to address those fundamental problems. However, the quality and legitimacy of the valuation process then becomes dependent on how participation is framed. We note that numerous issues need to be taken into account, such as the roles assumed by participants, the differences in contribution among participants, the level of participatory impact and the level of democratization of the decision-making process. This paper proposes a detailed qualitative analysis of four case studies, each of them having implemented a specific valuation method in a participatory process. We analyze how those cases were handled in each of the dimensions considered and offer our conclusions about the added values and remaining challenges related to participatory environmental valuation.

Valuation of inventories in systems with product recovery

OpenAIRE

Teunter, Ruud; Laan, Erwin

2003-01-01

textabstractValuation of inventories has different purposes, in particular accounting and decision making, and it is not necessary for a firm to use the same valuation method for both purposes. In fact, it is not uncommon to use accounting books as well as management books. In this chapter, we will only consider inventory values from the perspective of decision making. More specifically, we will analyze the effect of inventory valuation on inventory control decisions (and not the correspondin...

A valuation-Based Test of Market Timing

NARCIS (Netherlands)

Koeter-Kant, J.; Elliott, W.B.; Warr, R.S.

2007-01-01

We implement an earnings-based fundamental valuation model to test the impact of market timing on the firm's method of funding the financing deficit. We argue that our valuation metric provides a superior measure of equity misvaluation because it avoids multiple interpretation problems faced by the

The Honey-lips et The Guarani : les romans de José de Alencar en langue anglaise à la fin du XIXe siècle

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Valéria Cristina Bezerra

2016-10-01

Full Text Available Dans les dernières décennies du XIXe siècle, deux romans de José de Alencar ont été traduits et obtenu circulation dans des pays de langue anglaise. Iraçéma : the honey-lips, version de Isabel Burton, est apparue en 1886 à Londres, em suscitant la réception critique dans des journaux du Royaume-Uni. The Guarany, traduit par James William Hawes, est sorti de façon découpée en 1893 dans le jornal Overland Monthly and Out West Magazine, de San Francisco, aux États-Unis, pays où Alencar a aussi été mentionné par la presse locale. Ce travail se propose d’analyser la réception de ces ouvrages et de José de Alencar dans le Royaume-Uni et les États- Unis. Il a également pour but de vérifier le rôle des traducteurs, éditeurs, critiques et de la presse dans la configuration de l’évaluation de cet écrivain et de ses oeuvres dans ces pays, en considérant, toujours que possible, le rapport de ces passeurs avec la culture brésilienne. La réception critique de Alencar dans ces pays révèle sa bonne évaluation aussi bien que la traduction de ses romans semble avoir répondu à l’intérêt du public étranger à s’illustrer.

VALUATION AND INVESTMENT PROFESSION

Directory of Open Access Journals (Sweden)

Lidija Dedi

2013-06-01

Full Text Available Investment professionals, particularly financial analysts or security analysts evaluate securities and try to determine characteristics of securities and to identify mispriced securities. For that purpose they use different models to estimate the intrinsic value of the common stocks. Traditional valuation models based on the present value of future cash flows are affected by estimated growth rate of the variable used and by the investor’s required rate of return. These models can be used for valuing fixed income securities, such as bonds and preferred stocks. However, in valuing companies with significant growth opportunities they have to expand traditional analysis with option valuation.

Une étape primordiale dans l’évaluation d’une politique de développement durable

Directory of Open Access Journals (Sweden)

Karine Bourgeois

2003-11-01

Full Text Available L’évaluation des politiques publiques prend une place institutionnelle de plus en plus importante. La commande de l’évaluation donne lieu à l’élaboration d’un cahier des charges, qui précise notamment les questions évaluatives stratégiques à traiter. Pour parvenir à une définition judicieuse de ces questions, la réalisation, en amont, d’une démarche interdisciplinaire comprenant une phase d’analyse de politique complétée d’une étude des modalités de mise en oeuvre s’avère nécessaire. A travers l’exemple de l’évaluation intermédiaire du Contrat Territorial d’Exploitation (CTE en Limousin, nous tentons de montrer en quoi le graphe d’objectifs peut constituer un outil adapté pour révéler la théorie d’action de la politique publique. La conception du cahier des charges contribue également à éclairer la décision publique en favorisant l’implication et la concertation des divers partenaires. Celle-ci est d’autant plus précieuse qu’il s’agit d’une politique de développement durable, visant, entre autres, à mieux gérer les biens publics environnementaux.An important step in a sustainable policy evaluation: the conception of terms of reference, The experience of the Land Management Contract mid-term review in Limousin. Terms of reference and particularly evaluative questions definition is one of the most important stage in evaluation process. This last aims to analyse the context of the policy and its theory  of action. In order to define, in a pertinent way, priority evaluative questions, both political analysis and implementation analysis (an interdisciplinary method are required, moreover when the policy is defined in a regional and co-operation framework. In the case of the Land Management Contract (LMC mid-term review, an objective tree has been drawn up to identify which social and economical mechanisms have been implemented to achieve the main objectives of the Limousin program

Approche comparée de quelques évolutions de la gestion du risque en France à travers l’organisation des agences

Directory of Open Access Journals (Sweden)

Hubert Philippe

2000-09-01

Full Text Available L’organisation nationale en matière d’évaluation et de gestion des risques est en cours de modifications depuis quelques années. Organisée par une loi en 1998, la création d’agences pour la sécurité sanitaire des aliments, des produits de santé et de l’environnement a marqué une étape. D’autres domaines sont en cours de réorganisation comme la sûreté nucléaire et la radioprotection. La mise en oeuvre de la directive SEVESO II peut aussi influer sur la gestion des installations industrielles classées dites « SEVESO ». Des « événements » comme la crise de la vache folle ou celle du sang contaminé ont joué un rôle dans les évolutions, mais l’émergence de nouveaux principes de gestion des risques au sein de la communauté internationale a aussi influé fortement sur les choix faits et les discussions. Le travail présenté ici est un travail préliminaire, qui visait à identifier les grandes lignes des réponses apportées dans les différents domaines à des questions comme celles du rôle des différentes institutions en matière d’évaluation et de gestion. L’approche comparative suivie ici est trop globale pour que tous les éléments de chaque système réglementaire soit décrit et certains aspects sont simplifiés. En revanche, ce type de comparaison met en lumière des contrastes notables quant aux solutions trouvées pour articuler le travail d’évaluation des risques et les prises de décision relevant des autorités.

Comparing Contingent Valuation, Conjoint Analysis and decition Panels: An Application to the valuation of reduced damages from air pollution in Norway

Energy Technology Data Exchange (ETDEWEB)

Halvorsen, B.; Strand, J.; Saelensminde, K.; Wenstoep, F.

1996-12-31

The need for assessing values of non-market goods has led to the development of two main groups of valuation approaches, those based on revealed preferences, and those on stated preferences (SP). One of the stated preference approaches, the Contingent Valuation Method, has recently been heavily criticized and alternative SP valuation approaches have appeared. This report discusses three SP approaches to eliciting willingness to pay (WTP) for environmental goods, namely open-ended contingent valuation (OE-CVM), conjoint analysis (CA) and multi-attribute utility theory applied to decision panels of experts (DPE). Each approach has advantages and disadvantages relative to the others and the relation between WTP estimates from the approaches cannot be predicted on prior arguments alone. The three approaches are applied in three different surveys, seeking valuation of specific damages due to air pollution in Norway. In all cases studied, OE-CVM yields the lowest average WTP estimate, while those from CA and EDP are similar. Possible explanations are offered, based on the principle differences between the approaches and on particular features of the three surveys. 35 refs., 10 tabs.

29 CFR 4044.41 - General valuation rules.

Science.gov (United States)

2010-07-01

... part 4044.) (b) Valuation of assets. Plan assets shall be valued at their fair market value, based on the method of valuation that most accurately reflects such fair market value. Trusteed Plans ... been or will be placed into trusteeship by the PBGC shall value plan benefits in accordance with...

36 CFR 254.42 - Valuation of tracts.

Science.gov (United States)

2010-07-01

... 36 Parks, Forests, and Public Property 2 2010-07-01 2010-07-01 false Valuation of tracts. 254.42 Section 254.42 Parks, Forests, and Public Property FOREST SERVICE, DEPARTMENT OF AGRICULTURE LANDOWNERSHIP ADJUSTMENTS Conveyance of Small Tracts § 254.42 Valuation of tracts. (a) Approximately equal value shall be...

APPLICATION OF DIVIDEND DISCOUNT MODEL VALUATION AT MACEDONIAN STOCK-EXCHANGE

Directory of Open Access Journals (Sweden)

Zoran Ivanovski

2015-06-01

Full Text Available Dividend discount model (DDM is the simplest model for valuing equities in finance. Many analysts belived that DDM is outmoded, but much of the intuition that drives Discounted Cash Flow (DCF valuation is embedded in the DDM model. There are also specific companies stocks where the DDM model remains a useful tool for estimating value. The basic task of these research is to examine if DDM models offer relevant and safe valuation of long-term securities at Macedonian Stock Exchange (MSE through the process of empirical valuation of random chosen stocks. This research helped us to identify problems in use of DDM valuation models at MSE, to determine causes for differences between the intrinsic values and the stock market prices and to determine basic parameters for implementation of valuation on Macedonian financial market. We find that DDM models are usefull only as additional tool beside relative and DCF stocks valuation at MSE.

Culture du résultat et pilotage par les indicateurs dans le secteur public

OpenAIRE

Chatelain-Ponroy, Stéphanie; Sponem, Samuel

2008-01-01

Depuis 20 ans, la question de la gestion de l’État est au cœur des réformes de l’administration dans tous les pays de l’OCDE. À cet égard, l’introduction d’une culture du résultat et des dispositifs de contrôle de gestion qui l’accompagnent dans l’administration publique telle qu’elle est mise en avant dans la LOLF, si elle peut avoir des effets positifs en termes d’évaluation des politiques publiques et d’incitation des agents, peut aussi engendrer des effets pervers. En la matière, l’expéri...

Évaluation de l'application par l'Afrique du Sud d'une taxe d'accise ...

International Development Research Centre (IDRC) Digital Library (Canada)

Les maladies non transmissibles, qui contribuent de façon marquée à la charge de morbidité de l'Afrique du Sud sont largement causées par l'obésité et les maladies associées. La prévalence de l'obésité a augmenté de 30 % pendant la dernière décennie, tandis que la consommation d'aliments à haute teneur en énergie ...

Intangibles and methods for their valuation in financial terms: Literature review

Directory of Open Access Journals (Sweden)

Damián Pastor

2017-02-01

Full Text Available Purpose: The purpose of this paper is to review literature devoted to intangibles and their valuation and give examples of the methods that can be used for valuation of individual intangibles in financial terms. Design/methodology/approach: Paper presents a systematic review of articles dedicated to intangibles and their valuation. Findings: This review shows that there is a need for consensus in definitions of intangibles, intangible assets, knowledge assets and other related terms. These terms are used interchangeably in spite of their different meanings. Many methods for valuation of intangibles can be found in the literature, but widely accepted list of basic intangibles with suggested methods for their valuation in financial terms is still missing. Research limitations/implications: Not all the papers related to this topic could be covered in this paper. Presented list of important intangible components may be enhanced and examples of some other methods for their valuation may be added in the future. Practical implications: Paper calls for development of framework comprising list of the most important intangibles, proposals of methods used for their valuation and examples of their use. This framework can be helpful for organization, which are confronted with a difficult task of intangibles valuation. Originality/value: Basic definitions and differences between intangibles, intangible assets, identifiable intangible assets, knowledge assets and intellectual capital have not been mentioned in one paper yet. List of intangibles and methods for their valuation gives a direction for future work that can be fruitful for valuation of intangibles.

Cancer du sein au Cameroun, profil histo-épidémiologique: à propos de 3044 cas

Science.gov (United States)

Engbang, Jean Paul Ndamba; Essome, Henri; Koh, Valère Mve; Simo, Godefroy; Essam, Jean Daniel Sime; Mouelle, Albert Sone; Essame, Jean Louis Oyono

2015-01-01

Décrire les caractéristiques épidémiologiques et histo-pathologiques des tumeurs malignes du sein au Cameroun. Il s'agissait d'une étude rétrospective descriptive portant sur les tumeurs malignes du sein, colligées, dans les registres des différents laboratoires d'Anatomie Pathologique publiques et privés repartis dans cinq régions (centre, littoral, Ouest, Nord-ouest, Sud-ouest), pendant une période de 10 ans (2004-2013). Les paramètres étudiés étaient la fréquence, l’âge, le sexe, la localisation, le type et le grade histologique, et les récepteurs hormonaux. Un total de 3044 cas de cancers du sein a été recensé, soit une fréquence annuelle de 304,4 cas en moyenne. Le sexe féminin était le plus représenté avec 2971 cas (97,60%) et les hommes avec 73 cas (2,40%), soit un sexe ratio (H/F) de 0,02. L’âge moyen des patients était de 46±15,87 ans, avec des extrêmes de 13 et 95 ans. Selon la localisation, le sein gauche était atteint dans 1244 cas (52%) et le sein droit dans 1115 cas (47%). Au plan histologique, on retrouvait essentiellement des carcinomes avec 96,50% des cas, des sarcomes 1,39%, des lymphomes 1,07% et la maladie de Paget du mamelon, 1,03%. Les tumeurs épithéliales étaient infiltrantes dans 2049 cas (84,46%), avec une prédominance du carcinome canalaire infiltrant (1870 cas) et non infiltrantes dans 377 cas (15,54%). Le grade histo-pronostic de SBR avait révélé une prédominance du grade II dans 66% des cas. Les cancers du sein restent une pathologie fréquente au Cameroun et atteignent principalement la population féminine en âge de procréer. Ils sont caractérisés par la prédominance du carcinome canalaire infiltrant. PMID:26523182

Subjective Well-Being Approach to Environmental Valuation: Evidence for Greenhouse Gas Emissions

Science.gov (United States)

Beja, Edsel L., Jr.

2012-01-01

The subjective well-being approach to environmental valuation is applied to analyze the valuation of greenhouse gas emissions with a fairness-adjustment in the valuation exercise. Results indicate that industrialized countries have high willingness-to-pay to reduce emissions. Developing countries differ in their valuations. Results indicate that…

Les campagnes communautaires de promotion du depistage VIH en Afrique de l’Ouest : perceptions des usagers au Burkina Faso

Science.gov (United States)

Desclaux, Alice; Ky-Zerbo, Odette; Somé, Jean-François; Makhlouf-Obermeyer, Carla

2014-01-01

Résumé La politique actuelle de lutte contre le sida qui repose sur l’extension de l’accès aux traitements et à la prévention exige qu’une proportion élevée de la population connaisse son statut en matière de VIH. Pour cela, l’OMS a proposé le développement de stratégies communautaires délivrant le dépistage et le conseil au-delà des services de soins, comme le test à domicile ou les campagnes de sensibilisation et dépistage de grande envergure, appliqués en Afrique australe et de l’Est. Pour définir les stratégies pertinentes dans des régions de basse prévalence comme l’Afrique de l’Ouest, les expériences communautaires de promotion du dépistage doivent y être évaluées. Cet article présente une évaluation des campagnes au Burkina Faso du point de vue des usagers. Dans le cadre d’un projet sur les pratiques et l’éthique du dépistage dans quatre pays africains (MATCH), une enquête qualitative spécifique a été menée pendant la campagne de 2008, auprès de personnes ayant fait le test pendant la campagne, ayant fait le test hors campagne ou n’ayant pas fait le test. Les appréciations sont globalement très favorables aux campagnes, notamment à cause de l’information dispensée, l’accessibilité des sites, la gratuité du test, la qualité des services et l’effet d’entrainement. Les limites ou critiques sont essentiellement liées à l’affluence ou à la crainte de ne pas être soutenu en cas de résultat positif. La démarche de recours au test ne fait plus l’objet de suspicion, au moins pendant la campagne. Cette « normalisation » du recours au test et la mobilisation collective facilitent des pratiques en groupe, ce qui peut rendre difficile de garder son statut VIH secret. L’évaluation des campagnes par les usagers les présente comme une opportunité pour accéder facilement au test et pour communiquer à ce sujet dans divers espaces sociaux à partir des informations délivrées sur le VIH

Log-Concavity Properties of Minkowski Valuations

OpenAIRE

Berg, Astrid; Parapatits, Lukas; Schuster, Franz E.; Weberndorfer, Manuel

2014-01-01

New Orlicz Brunn-Minkowski inequalities are established for rigid motion compatible Minkowski valuations of arbitrary degree. These extend classical log-concavity properties of intrinsic volumes and generalize seminal results of Lutwak and others. Two different approaches which refine previously employed techniques are explored. It is shown that both lead to the same class of Minkowski valuations for which these inequalities hold. An appendix by Semyon Alesker contains the proof of a new clas...

Investment Valuation Analysis with Artificial Neural Networks

Directory of Open Access Journals (Sweden)

Hüseyin İNCE

2017-07-01

Full Text Available This paper shows that discounted cash flow and net present value, which are traditional investment valuation models, can be combined with artificial neural network model forecasting. The main inputs for the valuation models, such as revenue, costs, capital expenditure, and their growth rates, are heavily related to sector dynamics and macroeconomics. The growth rates of those inputs are related to inflation and exchange rates. Therefore, predicting inflation and exchange rates is a critical issue for the valuation output. In this paper, the Turkish economy’s inflation rate and the exchange rate of USD/TRY are forecast by artificial neural networks and implemented to the discounted cash flow model. Finally, the results are benchmarked with conventional practices.

Valuation Biases, Error Measures, and the Conglomerate Discount

NARCIS (Netherlands)

I. Dittmann (Ingolf); E.G. Maug (Ernst)

2006-01-01

textabstractWe document the importance of the choice of error measure (percentage vs. logarithmic errors) for the comparison of alternative valuation procedures. We demonstrate for several multiple valuation methods (averaging with the arithmetic mean, harmonic mean, median, geometric mean) that the

Évaluation de la courbe de rétention d'eau de l'aquifère du ...

African Journals Online (AJOL)

SARAH

29 mai 2013 ... sont mal connues pour définir un plan de gestion. Dans les .... Mesure de la teneur en eau du sol : Quatre puits ont ... d'adhésion et contrôle la saturation par adhésion. Selon .... performance of cover with double capillary.

Valuation in life sciences: a practical guide

National Research Council Canada - National Science Library

Bogdan, Boris; Villiger, Ralph

2010-01-01

... apply valuation methodologies in life sciences. One of the complicating factors is that, compared to other industries, valuation of biotech innovation is much more demanding. The long 10-15-year development and clinical trials process still represents the main risks faced by any biotech company. Added to that is the fact that getting a drug across the regulato...

26 CFR 25.2512-1 - Valuation of property; in general.

Science.gov (United States)

2010-04-01

... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Valuation of property; in general. 25.2512-1... valuation of other particular kinds of property. See § 25.2702-6 for an adjustment to the total amount of an... AND GIFT TAXES GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 Transfers § 25.2512-1 Valuation of...

Les Observatoires de l’eau, des outils au service de l’évaluation ?

Directory of Open Access Journals (Sweden)

Rémi Barbier

2010-11-01

Full Text Available Cet article aborde la question des méthodologies et pratiques territoriales de l'évaluation en matière de développement durable à travers l’analyse d’observatoires mis en place par les Conseils Généraux dans le domaine de l’eau. Notre propos se fonde sur l’examen de dix observatoires, identifiés lors d’une étude préalable à la mise en place d’un Observatoire de l’eau. Après un cadrage théorique et empirique de notre objet d’étude, nous présentons les démarches d’évaluation mises en place par ces observatoires et les obstacles rencontrés. Nous abordons notamment les questions de format des données à recueillir et de légitimité du maître d’ouvrage de l’observatoire. Ceci nous fournit des éléments afin de réfléchir à l'apport des Observatoires en tant qu'outils servant de support à l’évaluation des politiques publiques en matière de développement durable.This article deals with territorial methodologies and practices of evaluation as regards sustainable development via the analysis of water observatories set up by county councils. This matter is based on the analysis of ten water observatories which were identified and enquired into a study preceding the setting of a water observatory.First of all, we will consider the theoretical and empirical frames of our study. We will then present the evaluation methodologies set up by these water observatories and the main obstacles encountered. We will especially deal with the issue of data format and the legitimacy of the project owner of the water observatory. This analysis will provide us elements in order to consider the contribution of observatories as tools supporting public policy evaluation as regards sustainable development.

Étude préliminaire de recrutement fluvial de l'anguille

Directory of Open Access Journals (Sweden)

LEGAULT A.

1994-10-01

La passe piège représente la seule voie de franchissement de l'obstacle. L'évaluation des captures permet d'estimer le taux de recrutement du bassin versant pour l'année 1992. Il s'établit à 561 individus par km2 de bassin versant. L'évaluation annuelle de ce taux pourrait être utilisée afin de suivre la dynamique du stock à l'échelle du bassin versant. Ces évaluations, conduites à l'échelle de l'aire de répartition européenne de l'anguille, pourraient permettre d'établir le recrutement fluvial annuel et ses fluctuations.

VALUATION TECHNIQUES USED IN FAIR VALUE MEASUREMENT

Directory of Open Access Journals (Sweden)

Cristina-Aurora, BUNEA-BONTAS

2013-12-01

Full Text Available Valuation of assets and liabilities involves significant judgements and estimates, especially when fair value measurement is required. Currently, IFRS 13 Fair Value Measurement offers a single and more comprehensive source of guidance that is applied to almost all fair value estimates. When measuring fair value of fixed assets, intangible assets, specified financial assets or liabilities, different valuation techniques may be used: the market approach, the cost approach and the income approach. This article reviews these techniques and points out that different valuation practices may provide different results depending on the item being fair valued and on the inputs used. Also it emphasizes that, in particular circumstances, there is the possibility that a certain technique may be more appropriate than other.

Évaluation des paysages de l'Hérault: une approche méthodologique et une application SIG adaptée

Directory of Open Access Journals (Sweden)

Marie-Cécile FALQUE

1995-06-01

Full Text Available L’élaboration d’un outil d’évaluation des paysages a été rendue possible grâce à un partenariat entre l’INRA, la DIREN et l’Observatoire du Territoire, avec le souci commun d’intégrer la réflexion sur les paysages dans les problématiques de gestion de l’espace. Les modules d’analyse élaborés à partir des fonctionnalités des Systèmes d’Information Géographique produisent des résultats très prometteurs en vue de la sensibilisation au paysage des partenaires et acteurs et laissent entrevoir d’intéressantes perspectives de valorisation.

DCF Fair Value Valuation, Excessive Assetes and Hidden Inefficiencies

Directory of Open Access Journals (Sweden)

Paweł Mielcarz

2011-12-01

Full Text Available Fair value concept is widely used in DCF (Discounted Cash Flow  business valuation. One of the main principle of fair value concept is full information symmetry between contracting parties. The assumption enforces specific way of FCF (Free Cash Flow estimation: all areas of inefficiency of valuated companies should be identified and their effect on free cash flow should be eliminated. The projection of free cash flow thus prepared should reflect the optimum operations of the business. The methodological issues of fair value valuation of inefficient companies are not comprehensibly addressed in the financial and accounting literature. There is easily observable gap between fair value theory and valuation practices. Thus this article is an attempt to answer the question about practical issues in fair value valuation of companies which do not apply value based management rules. It is based on literature review, theory examination and short case studies which present proposed solution for practical problems. Methods of identification and assessment of impact of inefficiencies on the fair value of a business are hereinafter presented and supported with arguments.

Sustained Forced Sale Value Opinion Advice in Nigerian Valuation ...

African Journals Online (AJOL)

Sultan

volume of secured lending by commercial banks. ... Keywords: Forced sale value, mortgage valuation, Nigeria, valuation ... fact that given the rather large set of unknowns .... Besides the primary data .... mortgage lending value add anything.

Valuation of brands and intellectual capital

OpenAIRE

Fernández, Pablo

2002-01-01

In this paper we review several methods used for valuing brands. Among them, those of Interbrand, Damodaran, Financial World, Houlihan Valuation Advisors, Market Facts, Young & Rubicam and CDB Research & Consulting. In particular, we analyze in depth the valuations of Kellogg's and Coca-Cola performed by Damodaran and the method proposed by Interbrand. Damodaran valued the Coca-Cola brand at 24.6 billion dollars in 1993 and at 102.6 billion dollars in 1998. In recent years, a lot has been sai...

7 CFR 4290.503 - RBIC's adoption of an approved valuation policy.

Science.gov (United States)

2010-01-01

... close of the quarter. (e) Review of valuations by independent public accountant. (1) For valuations performed as of the end of your fiscal year, your independent public accountant must review your valuation... independent public accountant's report on your audited annual financial statements (SBA Form 468) must include...

13 CFR 107.503 - Licensee's adoption of an approved valuation policy.

Science.gov (United States)

2010-01-01

... of the quarter. (e) Review of valuations by independent public accountant. (1) For valuations performed as of the end of your fiscal year, your independent public accountant must review your valuation... independent public accountant's report on your audited annual financial statements (SBA Form 468) must include...

Valuation of medical resource units collected in health economic studies.

Science.gov (United States)

Copley-Merriman, C; Lair, T J

1994-01-01

This paper reviews the issues that are critical for the valuation of medical resources in the context of health economic studies. There are several points to consider when undertaking the valuation of medical resources. The perspective of the analysis should be established before determining the valuation process. Future costs should be discounted to present values, and time and effort spent in assigning a monetary value to a medical resource should be proportional to its importance in the analysis. Prices vary considerably based on location of the service and the severity of the illness episode. Because of the wide variability in pricing data, sensitivity analysis is an important component of validation of study results. A variety of data sources have been applied to the valuation of medical resources. Several types of data are reviewed in this paper, including claims data, national survey data, administrative data, and marketing research data. Valuation of medical resources collected in clinical trials is complex because of the lack of standardization of the data sources. A national pricing data source for health economic valuation would greatly facilitate study analysis and make comparisons between results more meaningful.

An Approach for Calculating Land Valuation by Using Inspire Data Models

Science.gov (United States)

Aydinoglu, A. C.; Bovkir, R.

2017-11-01

Land valuation is a highly important concept for societies and governments have always emphasis on the process especially for taxation, expropriation, market capitalization and economic activity purposes. To success an interoperable and standardised land valuation, INSPIRE data models can be very practical and effective. If data used in land valuation process produced in compliance with INSPIRE specifications, a reliable and effective land valuation process can be performed. In this study, possibility of the performing land valuation process with using the INSPIRE data models was analysed and with the help of Geographic Information Systems (GIS) a case study in Pendik was implemented. For this purpose, firstly data analysis and gathering was performed. After, different data structures were transformed according to the INSPIRE data model requirements. For each data set necessary ETL (Extract-Transform-Load) tools were produced and all data transformed according to the target data requirements. With the availability and practicability of spatial analysis tools of GIS software, land valuation calculations were performed for study area.

Economic valuation of aquatic ecosystem services in developing countries

DEFF Research Database (Denmark)

Korsgaard, Louise; Schou, Jesper S.

2010-01-01

-the silent water user. A promising way of placing aquatic ecosystems on the water agenda is by economic valuation of services sustained by ecosystems. In developing countries, the livelihoods of rural people often depend directly on the provision of aquatic ecosystem services. In such situations, economic......An important challenge of integrated water resources management (IWRM) is to balance water allocation between different users. While economically and/or politically powerful users have well developed methods for quantifying and justifying their water needs, this is not the case for ecosystems...... valuation of ecosystem services becomes particularly challenging. This paper reviews recent literature on economic valuation of aquatic ecosystem services in developing countries. "Market price" is the most widespread method used for valuating marketed ecosystem services in developing countries. "Cost based...

Tensor valuations and their applications in stochastic geometry and imaging

CERN Document Server

Kiderlen, Markus

2017-01-01

The purpose of this volume is to give an up-to-date introduction to tensor valuations and their applications. Starting with classical results concerning scalar-valued valuations on the families of convex bodies and convex polytopes, it proceeds to the modern theory of tensor valuations. Product and Fourier-type transforms are introduced and various integral formulae are derived. New and well-known results are presented, together with generalizations in several directions, including extensions to the non-Euclidean setting and to non-convex sets. A variety of applications of tensor valuations to models in stochastic geometry, to local stereology and to imaging are also discussed.

Differences Between Individual and Societal Health State Valuations

Science.gov (United States)

Chapman, Benjamin P.; Franks, Peter; Duberstein, Paul R.; Jerant, Anthony

2009-01-01

Objective The concept of “adaptation” has been proposed to account for differences between individual and societal valuations of specific health states in patients with chronic diseases. Little is known about psychological indices of adaptational capacity, which may predict differences in individual and societal valuations of health states. We investigated whether such differences were partially explained by personality traits in chronic disease patients. Research Design Analysis of baseline data of randomized controlled trial. Subjects Three hundred seventy patients with chronic disease. Measures The NEO-five factor inventory measure of personality, EuroQoL-5D (EQ-5D) societal-based, and the EQ visual analogue scale individually-based measures of health valuation. Results Regression analyses modeled Dev, a measure of difference between the EQ-Visual Analogue Scale and EQ-5D, as a function of personality traits, sociodemographic factors, and chronic diseases. Individual valuations were significantly and clinically higher than societal valuations among patients in the second and third quartile of conscientiousness (Dev = 0.08, P = 0.01); among covariates, only depression (Dev = -0.04, P = 0.046) was also associated with Dev. Conclusion Compared with societal valuations of a given health state, persons at higher quartiles of conscientiousness report less disutility associated with poor health. The effect is roughly twice that of some estimates of minimally important clinical differences on the EQ-5D and of depression. Although useful at the aggregate level, societal preference measures may systematically undervalue the health states of more conscientious individuals. Future work should examine the impact this has on individual patient outcome evaluation in clinical studies. PMID:19543121

19 CFR 10.18 - Valuation of assembled articles.

Science.gov (United States)

2010-04-01

... 19 Customs Duties 1 2010-04-01 2010-04-01 false Valuation of assembled articles. 10.18 Section 10... THE TREASURY ARTICLES CONDITIONALLY FREE, SUBJECT TO A REDUCED RATE, ETC. General Provisions Articles Assembled Abroad with United States Components § 10.18 Valuation of assembled articles. As in the case of...

Valuation of inventories in systems with product recovery

NARCIS (Netherlands)

R.H. Teunter (Ruud); E.A. van der Laan (Erwin)

2003-01-01

textabstractValuation of inventories has different purposes, in particular accounting and decision making, and it is not necessary for a firm to use the same valuation method for both purposes. In fact, it is not uncommon to use accounting books as well as management books. In this chapter, we will

Externalities of fuel cycles 'ExternE' project. Economic valuation. Economical valuation: An impact pathway approach

International Nuclear Information System (INIS)

Markandya, A.

1994-01-01

The EC/US study of the external costs of fuel cycles is designed to trace through all the environmental impacts arising from the use of a particular fuel, from the 'cradle' to the 'grave'; to quantify these impacts as far as possible (giving priority to those that are the considered the most important) and to value the damages arising from them in money terms as far as possible (again keeping to the priority listing established by the physical quantification). The fuel cycle has been identified as consisting of the following elements: activities -> emissions/burdens; emissions/burdens -> physical environmental impacts; physical impacts -> external environmental impacts; external impacts -> costs of these impacts. The activities consist of all the operations that are carried out in connection with the extraction transportation, use in electricity generation and finally disposal of the fuel. The emissions or burdens arising from the cycle result in physical impacts, which in turn imply certain environmental impacts. An illustration of a typical fuel cycle (coal) audits environmental impacts is given in Figures. The work of the fuels cycle study teams is to complete the valuation of the shaded areas but giving priority to those impacts that are likely to be quantitatively important. .Each fuel cycle is evaluated in a location-specific context, so that it refers to the impacts arising from the use of coal, or gas or whatever fuel is being considered at an actual plant that is operating. The purpose of this report on economic valuation is to: (a) examine the literature or economic valuation of environmental externalities in Europe; (b) assess its relevance to the fuel cycle study and (c) make recommendations on how the detailed analysis of the individual fuel cycles should use the economic valuation. It is important to recognize that the report is not a complete survey of all the research ever done on environmental valuation. Although as complete a survey of all the

Outpatient imaging center valuations: do you need a fair-market value analysis?

Science.gov (United States)

Koonsman, G S

2001-01-01

Typically, outpatient diagnostic imaging centers are formed as partnerships between radiologists, radiologists and hospitals, and/or radiologists and diagnostic imaging center management companies. As a result of these partnership structures, the question of equity valuation frequently arises. It is not only important to understand when an independent valuation would be required, but also what "type" of valuation needs to be performed. The type of valuation may vary based upon the use of the valuation. In partnerships that involve hospitals and physicians, the federal anti-kickback statutes (fraud and abuse laws) require that all transactions between referring physicians and hospitals be consummated at fair-market value. In addition, tax-exempt hospitals that enter into partnerships with physicians are required to enter into those transactions at fair-market value or risk losing their tax-exempt status. Fair-market value is also typically the standard of value that all partnerships strive to conduct equity transactions with shareholders. Qualifications required by those who perform independent fair-market value opinions include: Proper business valuation training and focus on valuations as a primary business Focus on the healthcare industry and specifically on the valuation of diagnostic imaging centers In order to perform a reasonable business valuation analysis, the appraiser must have access to a significant amount of financial, operational and legal information. The analyst must be able to understand the history of the imaging center as well as the projected future of the center. Ultimately, a valuation is a measurement of the estimated future cash flows of the center--risk adjusted--in order to quantify the present value of those cash flows.

Grammaire progressive du français niveau intermédiaire : avec 680 exercices

CERN Document Server

Grégoire, Maïa

2013-01-01

Une organisation claire : la leçon de grammaire sur la page de gauche ; les exercices d'entraînement sur la page de droite ; 52 chapitres présentant les points généralement abordés aux niveaux A2 et B1 du Cadre européen commun de référence pour les langues ; Un apprentissage progressif : il suit la progression naturelle des méthodes de français ; Un usage souple : pour la classe ou en auto-apprentissage ; Une préparation adaptée aux certifications : un entraînement efficace pour mieux réussir aux examens ; Une large place faite à l'évaluation : de nombreux exercices de révision et des bilans réguliers. À découvrir dans cette troisième édition tout en couleurs : Un CD audio avec 14 documents sonores ; 80 nouveaux exercices et activités communicatives ; Des chapitres révisés et des exercices plus variés ; Un test d'évaluation avec ses corrigés ; Et... un livre web, 100% en ligne, inclus. Cet ouvrage contient un code d'activation donnant gratuitement accès sur http://livre-web.com...

Contingency Valuation of Croatian Arboretum Opeka

Directory of Open Access Journals (Sweden)

Stjepan Posavec

2012-12-01

Full Text Available Background and Purpose: Social aspects of forestry have always been an important factor of forest usage and management, and therefore have significant influence on its sustainability. Non-wood forest functions such as recreation, tourism, aesthetic and educational factors influence development of rural areas. Contingent valuation method has rarely been used for evaluation of protected forest areas. The aim of the article is to estimate the amount of money visitors are willing to pay for nature’s resources preservation in the arboretum Opeka in the North-West Croatia. Material and Methods: Opeka Arboretum is situated in the Vinica municipality in northern Croatia. Located in a large park surrounding a manor, Opeka arboretum, with its 65 hectares is the largest of the three arboretums existing in Croatia today. The arboretum was founded in 1860 by the Count Marko Bombelles. Contingent valuation is a survey-based economic technique for the non-market valuation of resources, such as environmental preservation or the impact of contamination. It is also the approach that can generally be used to include what is usually referred to as the passive use component of the economic value of environmental goods. Results and Conclusion: Willingness to pay for visitor’s use of the arboretum has been investigated using the survey and contingency valuation method on a sample of 53 respondents. Research results present high preference for arboretum benefits such as beauty of landscape, cultural and historical significance, recreation and health but low willingness to pay.

Valuation of ecosystem services: paradox or Pandora’s box for decision-makers?

OpenAIRE

Nijnik,Maria; Miller,David

2017-01-01

The valuation of ecosystem services (ES) employs a range of methods. Based on a literature review and selected empirical examples, we consider major opportunities and challenges in ecosystem services valuation. We analyse when different valuation methods are appropriate and most useful. We demonstrate that mechanisms to capture benefits and costs are needed; and that the use of valuation should be incorporated more widely in decision-making. However, we argue that ecosystems are complex syste...

Application of Real Options Valuation to R&D Investments in Pharmaceutical Companies

OpenAIRE

Zhang, Huan Ran

2006-01-01

This paper provides an insight into the application of real option valuation method to R&D projects in pharmaceutical companies. As one of the most important corporate finance decision-making methods, real option valuation method has been introduced in the last two decades. By applying option valuation methods, real option valuation is a useful tool to company managers. R&D investments in pharmaceutical companies are subject to considerable uncertainty, which may involve possibilities (i...

Value functions on simple algebras, and associated graded rings

CERN Document Server

Tignol, Jean-Pierre

2015-01-01

This monograph is the first book-length treatment of valuation theory on finite-dimensional division algebras, a subject of active and substantial research over the last forty years. Its development was spurred in the last decades of the twentieth century by important advances such as Amitsur's construction of noncrossed products and Platonov's solution of the Tannaka-Artin problem. This study is particularly timely because it approaches the subject from the perspective of associated graded structures. This new approach has been developed by the authors in the last few years and has significantly clarified the theory. Various constructions of division algebras are obtained as applications of the theory, such as noncrossed products and indecomposable algebras. In addition, the use of valuation theory in reduced Whitehead group calculations (after Hazrat and Wadsworth) and in essential dimension computations (after Baek and Merkurjev) is showcased. The intended audience consists of graduate students and researc...

Towards an International Data Standard for Immovable Property Valuation

NARCIS (Netherlands)

Kara, A.; Çağdaş, Volkan; Işıkdağ, Ümit; van Oosterom, P.J.M.; Lemmen, Christiaan; Stubkjær, Erik; Halme, Pekka

2017-01-01

Immovable property valuation is performed by public sector actors for several land management activities, such as property taxation, expropriation or compulsory purchase of land, land re-adjustment and land consolidation; and private sector actors perform valuation for purchase, real estate

26 CFR 25.2512-4 - Valuation of notes.

Science.gov (United States)

2010-04-01

... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Valuation of notes. 25.2512-4 Section 25.2512-4... GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 Transfers § 25.2512-4 Valuation of notes. The fair market... the property, if any, pledged or mortgaged as security is insufficient to satisfy it. ...

48 CFR 211.274-3 - Policy for valuation.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Policy for valuation. 211... Documents 211.274-3 Policy for valuation. (a) It is DoD policy that contractors shall be required to...'s unit acquisition cost is— (1) For fixed-price type line, subline, or exhibit line items, the unit...

Combining accounting approaches to practice valuation.

Science.gov (United States)

Schwartzben, D; Finkler, S A

1998-06-01

Healthcare organizations that wish to acquire physician or ambulatory care practices can choose from a variety of practice valuation approaches. Basic accounting methods assess the value of a physician practice on the basis of a historical, balance-sheet description of tangible assets. Yet these methods alone are inadequate to determine the true financial value of a practice. By using a combination of accounting approaches to practice valuation that consider factors such as fair market value, opportunity cost, and discounted cash flow over a defined time period, organizations can more accurately assess a practice's actual value.

CORPORATE VALUATION USING TWO-DIMENSIONAL MONTE CARLO SIMULATION

Directory of Open Access Journals (Sweden)

Toth Reka

2010-12-01

Full Text Available In this paper, we have presented a corporate valuation model. The model combine several valuation methods in order to get more accurate results. To determine the corporate asset value we have used the Gordon-like two-stage asset valuation model based on the calculation of the free cash flow to the firm. We have used the free cash flow to the firm to determine the corporate market value, which was calculated with use of the Black-Scholes option pricing model in frame of the two-dimensional Monte Carlo simulation method. The combined model and the use of the two-dimensional simulation model provides a better opportunity for the corporate value estimation.

[Ecosystem services valuation of Qinghai Lake].

Science.gov (United States)

Jiang, Bo; Zhang, Lu; Ouyang, Zhi-yun

2015-10-01

Qinghai Lake is the largest inland and salt water lake in China, and provides important ecosystem services to beneficiaries. Economic valuation of wetland ecosystem services from Qinghai Lake can reveal the direct contribution of lake ecosystems to beneficiaries using economic data, which can advance the incorporation of wetland protection of Qinghai Lake into economic tradeoffs and decision analyses. In this paper, we established a final ecosystem services valuation system based on the underlying ecological mechanisms and regional socio-economic conditions. We then evaluated the eco-economic value provided by the wetlands at Qinghai Lake to beneficiaries in 2012 using the market value method, replacement cost method, zonal travel cost method, and contingent valuation method. According to the valuation result, the total economic values of the final ecosystem services provided by the wetlands at Qinghai Lake were estimated to be 6749.08 x 10(8) yuan RMB in 2012, among which the value of water storage service and climate regulation service were 4797.57 x 10(8) and 1929.34 x 10(8) yuan RMB, accounting for 71.1% and 28.6% of the total value, respectively. The economic value of the 8 final ecosystem services was ranked from greatest to lowest as: water storage service > climate regulation service > recreation and tourism service > non-use value > oxygen release service > raw material production service > carbon sequestration service > food production service. The evaluation result of this paper reflects the substantial value that the wetlands of Qinghai Lake provide to beneficiaries using monetary values, which has the potential to help increase wetland protection awareness among the public and decision-makers, and inform managers about ways to create ecological compensation incentives. The final ecosystem service evaluation system presented in this paper will offer guidance on separating intermediate services and final services, and establishing monitoring programs for

26 CFR 20.2031-4 - Valuation of notes.

Science.gov (United States)

2010-04-01

... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Valuation of notes. 20.2031-4 Section 20.2031-4... ESTATE TAX; ESTATES OF DECEDENTS DYING AFTER AUGUST 16, 1954 Gross Estate § 20.2031-4 Valuation of notes... of the party or parties liable, or for other cause), and that any property pledged or mortgaged as...

Valuation of international oil- and gas companies; Verdsetting av internasjonale olje- og gasselskaper

Energy Technology Data Exchange (ETDEWEB)

Osmundsen, Petter; Mohn, Klaus; Espedal, Harald; Loevaas, Kjell

2002-07-01

In Norway, stock exchange quotation of Statoil has led to increased interest in valuation of oil companies. This article goes through the theory of corporate valuation. Then it compares the theory with practice, where valuation largely is built on accounts-based indicators. Taking the oil companies as a case, the article describes and evaluates the valuation methods used by analysts and investment banks.

Communication progressive du français avec 320 exercices : niveau débutant : corrigés

CERN Document Server

Miquel, Claire

2013-01-01

Ce qui fait le succès de cet ouvrage de communication: Une organisation claire: la leçon sur la page de gauche; les exercices et les activités communicatives sur la page de droite 40 fiches présentant les points généralement abordés au niveau A1 du Cadre européen commun de référence pour les langues Un apprentissage progressif: il suit la progression naturelle des méthodes de français Un usage souple: pour la classe ou en auto-apprentissage Une préparation adaptée aux certifications: un entrainement efficace pour mieux réussir aux examens A découvrir dans cette deuxième édition revue et augmentée: Un CD audio avec 69 documents sonores Un test d'évaluation avec ses corrigés Des illustrations pédagogiques acutelles et colorées 50 nouveaux exercices. Communication Progressive du français niveau débutant, 2ème édition (ISBN 978-209-038132-0).

Cholestéatome du méat acoustique externe

Science.gov (United States)

Azeddine, Lachkar; Aabach, Ahmed; Chouai, Mohamed; Elayoubi, Fahd; Ghailan, Mohamed Rachid

2016-01-01

Le cholestéatome du méat acoustique externe se définit comme une accumulation de kératine en regard d’une érosion osseuse de nature ostéitique. C’est une entité otologique rare ou peut diagnostiquée. Le but de notre travail est d’illustrer sur la base d’un cas un cholestéatome du méat acoustique externe. Il s’agit d’un patient âgé de 65 ans diabétique et hypertendu sous traitement, présentant depuis 3 mois une otalgie droite intense, insomniante, avec hypoacousie, otorrhée purulente minime et paralysie faciale droite grade V. Le diagnostic évoqué était dans un premier temps celui d’otite externe maligne. Il a été mis sous traitement antibiotique sans amélioration. L’examen otologique a trouvé une lésion ulcéro-bourgeonnante de la paroi postérieure du méat acoustique externe droit, une biopsie systématique de la lésion a été pratiquée et a conclu à un cholestéatome. Le patient a bénéficié d’une tympanoplastie en technique ouverte. Le cholestéatome du méat acoustique externe est rare, la symptomatologie clinique n’est pas spécifique, le scanner des rocher est d’un grand apport pour le diagnostic positif montrant un cratère osseux du méat acoustique externe. Le traitement dépend de l’extension des lésions allant des simples soins locaux à une tympanoplastie en technique ouverte. Le cholestéatome du méat acoustique externe peut revêtir plusieurs aspects, et prêter confusion avec d’autres pathologies du méat acoustique externe. PMID:28154624

A social preference valuations set for EQ-5D health states in Flanders, Belgium.

Science.gov (United States)

Cleemput, Irina

2010-04-01

This study aimed at deriving a preference valuation set for EQ-5D health states from the general Flemish public in Belgium. A EuroQol valuation instrument with 16 health states to be valued on a visual analogue scale was sent to a random sample of 2,754 adults. The initial response rate was 35%. Eventually, 548 (20%) respondents provided useable valuations for modeling. Valuations for 245 health states were modeled using a random effects model. The selection of the model was based on two criteria: health state valuations must be consistent, and the difference with the directly observed valuations must be small. A model including a value decrement if any health dimension of the EQ-5D is on the worst level was selected to construct the social health state valuation set. A comparison with health state valuations from other countries showed similarities, especially with those from New Zealand. The use of a single preference valuation set across different health economic evaluations within a country is highly preferable to increase their usability for policy makers. This study contributes to the standardization of outcome measurement in economic evaluations in Belgium.

76 FR 71491 - Gross Estate; Election to Value on Alternate Valuation Date

Science.gov (United States)

2011-11-18

... 14 may be applicable to determine fair market value for Federal estate tax purposes. (iii... valuation period shall be added to the value of the entity on the alternate valuation date. The sum of the... Gross Estate; Election to Value on Alternate Valuation Date AGENCY: Internal Revenue Service (IRS...

Conceptual bases of the brand valuation by cost method

Directory of Open Access Journals (Sweden)

G.Y. Studinska

2015-03-01

Full Text Available The necessity of valuing intangible assets in accordance with international trends is substantiated. The brand is seen as more important component of intangible assets, as an effective management tool company. The benefits and uses of brand evaluation results are investigated. System monocriterion cost brand evaluation methods is analyzed. In particular, methods that require evaluation by the time factor (current and forecast methods and methods for factor comparison base (relative and absolute. The cost method of brand valuation through market transactions in accordance J.Common’s classification is considered in detail. The explanation of the difference between method a summation of all costs and method of brand valuation through market transactions is provided. The advantages and disadvantages considered cost method of brand valuation are investigated. The cost method as the relative-predicted of the brand valuation, «The method of determining the proportion of the brand from the discounted total costs» is grounded

Monetary valuation in Life Cycle Assessment

DEFF Research Database (Denmark)

Pizzol, Massimo; Weidema, Bo Pedersen; Brandão, Miguel

2015-01-01

different impacts and/or with other economic costs and benefits. For this reason, monetary valuation has a great potential to be applied also in Life Cycle Assessment (LCA), especially in the weighting phase. However, several challenges limit its diffusion in the field, which resulted in only a few......Monetary valuation is the practice of converting measures of social and biophysical impacts into monetary units and is used to determine the economic value of non-market goods, i.e. goods for which no market exists. It is applied in cost benefit analysis to enable the cross-comparison between...

Sustained forced sale value opinion advice in Nigerian valuation ...

African Journals Online (AJOL)

This study, the first in a series testing for standardisation of practice among professional Valuers, explores the issue of level of awareness of International Valuation Standards (IVS) provisions among Nigerian Valuers. This is with respect to mortgage valuations in the face of increased volume of secured lending by ...

The valuation of franchises : a restaurant case study / Gavin Stanvliet

OpenAIRE

Stanvliet, Gavin Dennis

2012-01-01

The objective of a business valuation arrangement is to reach a reasonable and acceptable opinion of value. Valuing a business entity has become less of a guessing game than before. Business valuations are two thirds science and one third art according to several theorists and practitioners. The result of a valuation is only definite if it can accurately predict the future, and given that it is not possible, there will always be an element of risk that the actual value differs from the expect...

Ontario electricity industry restructuring : preliminary asset valuation and calculation of stranded debt

International Nuclear Information System (INIS)

1998-01-01

The rationale for restructuring Ontario's electricity industry was restated. Financial elements of the Government's White Paper on the electrical industry included the following: (1) establishing a level playing field on taxes and regulation, (2) restructuring Ontario Hydro into new companies with clear business mandates, and (3) taking action to put the new companies on solid financial ground. To achieve these objectives requires valuation of the new companies as a key part in the restructuring process. This Ministry of Finance document contains preliminary estimates of the total debt and liabilities of Ontario Hydro ($ 39.1 billion), the value of the new generation and service companies ($ 15.8 billion), and the stranded debt ($ 23.3 billion, less the value of dedicated revenue streams of $ 15.4 billion, equal to the residual stranded debt of $ 7.9 billion). The method by which the stranded debt was calculated is also described. It is stressed that the overriding principles governing the financial restructuring plan are to achieve restructuring without increasing electricity rates, to retain maximum value in the electricity sector until stranded debt is retired, and to recover stranded debt from the electricity sector and not from taxpayers. Ministry advisors indicate that these preliminary valuations would allow the new companies to operate as commercial companies in a competitive market and receive investment grade credit ratings. 44 figs

Le CRDI et BetterEvaluation lancent un guide interactif pour la ...

International Development Research Centre (IDRC) Digital Library (Canada)

21 oct. 2016 ... En tant qu'instances qui commandent des évaluations, ces gestionnaires définissent l'objectif, la portée, le budget et le moment de la tenue de l'évaluation. Ils déterminent quelles données ... Régionalisation du recrutement du personnel de santé au Burkina Faso. Les ressources humaines en santé sont ...

Quantitative valuation of platform technology based intangibles companies

OpenAIRE

Achleitner, Ann-Kristin; Nathusius, Eva; Schraml, Stephanie

2007-01-01

In the course of raising external equity, e.g. from venture capitalists, a quantitative valuation is usually required for entrepreneurial ventures. This paper examines the challenges of quantitatively valuing platform technology based entrepreneurial ventures. The distinct characteristics of such companies pose specific requirements on the applicability of quantitative valuation methods. The entrepreneur can choose from a wide range of potential commercialization strategies to pursue in the c...

MEASURING INSOLVENCY: VALUATION GUIDELINES FOR ROMANIAN COMPANIES

Directory of Open Access Journals (Sweden)

Tudor Andrei RĂDULESCU

2014-11-01

Full Text Available Nowadays valuation has become an inherent part of business environment which has experienced dynamic changes in economic activity through mergers and acquisitions, organizational restructuring and repurchasing of shares. The dynamic centre of all these activities is valuation, whose methods are needed not only for accounting purposes, but to serve as information support to all stakeholders. Although there are many individual techniques of assessment businesses in difficulty, selecting the most suitable method of valuation is often difficult. The paper is a mini-guide that should be taken into account by all actors involved in the assessment of firms in difficulty when they pursue to carry out such activities. In this regard, we compare the financial and accounting aspects with the national regulation on insolvency, highlighting the usefulness or, where appropriate, the lack of consistency based on assessments completed to date. In the end we insist on the reconciliation of financial vision with the rule of law in order to simplify insolvency proceedings in Romania.

Valuation of Inventories Considering the Fair Value Options

Directory of Open Access Journals (Sweden)

Deaconu Adela

2008-04-01

Full Text Available Our paper represents a pleading for fair value in the specific case of valuating inventories. The real significance and implications of fair value can only be seen after analyzing the topic from different points of view concerning all involved actors. Therefore we have based our scientific demarche on analyzing the trade literature and comparing the foresights of international regulations given by both the accounting setting bodies and the valuation setting bodies. Moreover we have followed two of the three moments which require valuation and for these moments we have selected those cases which require the using of fair value. Our opinion regarding the findings of the research is expresses by giving practical examples for the specific application of fair value and the way to reach it.

Prepayment and the Valuation of Danish Mortgage-Backed Bonds

DEFF Research Database (Denmark)

Jakobsen, Svend

Ph.D. thesis on prepayment modelling and valuation of Danish mortgage backed bonds. The thesis discusses several aspects of mortgage backed bonds including after-tax valuation, the special Danish delivery option, rational prepayment behavior, transaction costs and heterogenous borrowers. The thes...... concludes with an empirical analysis of pricing and holding period returns...

Phase Two Protected Species Valuation

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — Nonmarket valuation research has produced economic value estimates for a variety of threatened, endangered, and rare species around the world. Although over 40 value...

Phase One Protected Species Valuation

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — Nonmarket valuation research has produced economic value estimates for a variety of threatened, endangered, and rare species around the world. Although over 40 value...

Valuation of energy enterprises

International Nuclear Information System (INIS)

Kjaerland, Frode

2005-01-01

Since the deregulation of the energy market in Norway, there has been a number of mergers and acquisitions of energy enterprises. In all these transaction the companies has been valued. The value has often been not insignificant above what the value should be according to traditional methods of valuation. What is the explanation of this premium. This paper describes a project which has as goal to test weather real option theory can explain the difference between actual price and theoretical value based on conventional discounted cash flow methods. This is supposed to be compared with an accounting based residual income approach of valuation. The goal is to see if a real option approach better can explain the value of the transactions in this industry in the past decade, and thereby better understand the value and value components of these enterprises. This is a first draft, and this paper will be rewritten and revised by the presentation in the conference ultimo August 2005. (Author)

Monetary ecosystem services valuation in natural environment management

OpenAIRE

Álvarez, David

2017-01-01

As it happened with Stern Report, which made international community change their attitude related to climate change, TEEB (The Economics of Ecosystem Services and Biodiversity) was a turning point in valuing biodiversity and ecosystem services. This change of attitude happened, partially, thanks to include monetary ecosystem valuation of ecosystem services and how much their conservation and avoid their loss worth to the entire society. Integrate monetary valuation in green infrastructur...

Timing effects in health valuations.

Science.gov (United States)

Leiter, Andrea M; Pruckner, Gerald J

2014-06-01

This paper analyzes the impact of external sources of information, conveyed by the frequency of risky events that vary across time, on the individual willingness to pay (WTP) for a reduction of mortality risk. We collected data from a contingent valuation (CV) exercise conducted in two waves (fall and winter) to examine whether individual WTP varied across periods that differed in the predominance of fatal accidents. Risk valuations were based on fatal snow avalanche accidents, that is, a type of risk with seasonal differences in occurrence. We found slightly lower but statistically significant mean WTP figures in the winter than in the fall sample because of time-varying individual risk attitudes and, therefore, recommend controlling for these factors in risk assessment CV surveys. Copyright © 2013 John Wiley & Sons, Ltd.

Actes des 5èmes Journées Scientifiques du GDR3544 Sciences du Bois. Journées Annuelles du GDR 3544 Sciences du Bois

OpenAIRE

CHAPLAIN, Myriam; CARE, Sabine; GRIL, Joseph

2016-01-01

Le Groupement de Recherche en Sciences du bois (GDR3544 Sciences du Bois) a été créé en 2012 par le CNRS et renouvelé en 2016 pour 5 ans. La mission de ce groupement est : (1) de structurer la recherche sur le bois en France pour lui donner une visibilité nationale, (2) de contribuer au développement de la formation en sciences du bois et (3) de servir de relai aux réseaux internationaux de sciences du bois. Les 5èmes journées annuelles du GDR Bois ont été organisées à Bordeaux, au domaine du...

Classification and valuation of postoperative complications in a randomized trial of open versus laparoscopic ventral herniorrhaphy.

Science.gov (United States)

Kaafarani, H M A; Hur, K; Campasano, M; Reda, D J; Itani, K M F

2010-06-01

Generic instruments used for the valuation of health states (e.g., EuroQol) often lack sensitivity to notable differences that are relevant to particular diseases or interventions. We developed a valuation methodology specifically for complications following ventral incisional herniorrhaphy (VIH). Between 2004 and 2006, 146 patients were prospectively randomized to undergo laparoscopic (n = 73) or open (n = 73) VIH. The primary outcome of the trial was complications at 8 weeks. A three-step methodology was used to assign severity weights to complications. First, each complication was graded using the Clavien classification. Second, five reviewers were asked to independently and directly rate their perception of the severity of each class using a non-categorized visual analog scale. Zero represented an uncomplicated postoperative course, while 100 represented postoperative death. Third, the median, lowest, and highest values assigned to each class of complications were used to derive weighted complication scores for open and laparoscopic VIH. Open VIH had more complications than laparoscopic VIH (47.9 vs. 31.5%, respectively; P = 0.026). However, complications of laparoscopic VIH were more severe than those of open VIH. Non-parametric analysis revealed a statistically higher weighted complication score for open VIH (interquartile range: 0-20 for open vs. 0-10 for laparoscopic; P = 0.049). In the sensitivity analysis, similar results were obtained using the median, highest, and lowest weights. We describe a new methodology for the valuation of complications following VIH that allows a direct outcome comparison of procedures with different complication profiles. Further testing of the validity, reliability, and generalizability of this method is warranted.

Conservatism in Corporate Valuation

DEFF Research Database (Denmark)

Bach, Christian

Using a CCAPM based risk adjustment model, consistent with general asset pricing theory, I perform corporate valuations of a large sample of stocks listed on NYSE, AMEX and NASDAQ. The model is different from the standard CAPM model in the sense that it discounts forecasted residual income for ri...

Spécialiste de programme principal, Évaluation (h/f) | CRDI - Centre ...

International Development Research Centre (IDRC) Digital Library (Canada)

Il recommande les méthodes, outils et processus d'évaluation et d'autoévaluation appropriés et en facilite la conception et l'utilisation par le personnel et la direction des programmes afin d'appuyer leur utilisation de l'évaluation pour éclairer la conception de projets et de programmes, améliorer les pratiques de gestion, ...

Does Accrual Management Impair the Performance of Earnings-Based Valuation Models?

OpenAIRE

Lucie Courteau; Jennifer L. Kao; Yao Tian

2013-01-01

This study examines empirically how the presence of accrual management may affect firm valuation. We compare the performance of earnings-based and non-earnings-based valuation models, represented by Residual Income Model (RIM) and Discounted Cash Flow (DCF), respectively, based on the absolute percentage pricing and valuation errors for two subsets of US firms: “Suspect” firms that are likely to have engaged in accrual management and “Normal” firms matched on industry, year and size. Results ...

Un aspect du calcul d'erreur sur les réserves en place d'un gisement : L'influence du nombre et de la disposition spatiale des puits One Aspect of Error Computing for Reserves in a Reservoir. Influence of Well Number and Spacing

Directory of Open Access Journals (Sweden)

Haas A.

2006-11-01

Full Text Available L'erreur sur l'évaluation des réserves en place d'un gisement d'hydrocarbures dépend de trois facteurs : - erreur aux puits sur la détermination des porosités et saturations; - erreur géostatistique d'extension au gisement des mesures effectuées aux puits ; - erreur géométrique d'évaluation de la surface ou du volume du gisement. Dans ce texte nous avons étudié l'influence du nombre et de la distribution des puits sur l'erreur géostatistique dans le cas d'un gisement fictif de forme elliptique. Nous nous sommes placés à différents niveaux de reconnaissance, depuis l'implantation d'un seul puits en position variable jusqu'à la couverture complète du gisement par une grille régulière de 48 puits... La méthode utilisée est le « krigeage » élaboré par G. MATHERON de l'École des Mines de Paris. Les calculs ont été réalisés à l'aide du programme KRIGEPACK développé par une association CFP-SNPA. L'erreur d'estimation dépend de la position des puits dans le gisement, de la plus ou moins grande continuité spatiale de la variable et des erreurs aux puits. L'erreur que l'on peut calculer par la statistique classique ne dépend que du nombre de puits et suivant le cas peut être trop importante (si les puits sont implantés de manière optimale ou au contraire trop faible (si les puits sont mal disposés. The error in evaluating reserves in place in a hydrocarbon reservoir depends on The following three factors I - an erorr in wells when determining porosities and saturations ; 2 - a geosfatistical error in extending well measurements ta the entire reservoir; 3 - a geometric error in evaluating the area or volume of the reservoir. This article studies the influence of well number and distribution on the geostatistical error in the case of an elliptically-shaped imaginary reservoir. Various levels of exploration are considered, from the existence of a single well in various positions to full coverage of the reservoir by a

Growth Opportunities, Earnings Permanence and the Valuation of Free Cash Flow

Directory of Open Access Journals (Sweden)

Ahsan Habib

2011-12-01

Full Text Available This paper examines empirically the effect of firm growth opportunities and earnings quality on the market valuation of free cash flow, defined as the difference between operating cash flows and capital expenditures. Equity valuation theory prescribes that free cash flow should not be associated with stock returns because itdoes not add value. However, free cash flow could become a value-relevant construct in certain contexts. This study considers growth opportunities and transitory earnings as two such contexts and examines the valuation of free cash flow. An accounting-based valuation framework is developed where stock returns are regressed onfree cash flow interacted with growth and earnings quality proxies, after controlling for book values, dividends, and current earnings realisations. Findings reveal that firms with a positive free cash flow and attractive growth opportunities command a valuation premium. Furthermore, free cash flow is found to be positively associatedwith stock returns when earnings are transitory. The results are robust to alternative definitions of both free cash flow and growth opportunities.

Effets de la microdose sur la production du niébé, du mil et du ...

African Journals Online (AJOL)

Effets de la microdose sur la production du niébé, du mil et du sorgho en fonction la toposéquence. Fatimata Saba, Sibiri Jean Baptiste Taonda, Idriss Serme, Alimata A. Bandaogo, Augustin P. Sourwema, Adama Kabre ...

Identification et prise en charge des femmes ayant des antécédents familiaux de cancer du sein

Science.gov (United States)

Heisey, Ruth; Carroll, June C.

2016-01-01

Résumé Objectif Résumer les meilleures données portant sur les stratégies d’identification et de prise en charge des femmes qui présentent des antécédents familiaux de cancer du sein. Sources d’information Une recherche a été effectuée sur PubMed à l’aide des mots-clés anglais suivants : breast cancer, guidelines, risk, family history, management et magnetic resonance imaging screening, entre 2000 et 2016. La plupart des données sont de niveau II. Message principal Une bonne anamnèse familiale est essentielle lors de l’évaluation du risque de cancer du sein afin d’identifier les femmes qui sont candidates à une recommandation en counseling génétique pour un éventuel test génétique. On peut sauver des vies en offrant aux femmes porteuses d’une mutation au gène BRCA des interventions chirurgicales de réduction des risques (mastectomie bilatérale prophylactique, salpingo-ovariectomie bilatérale). Il faut encourager toutes les femmes qui présentent des antécédents familiaux de cancer du sein à demeurer actives et à limiter leur consommation d’alcool à moins de 1 verre par jour; certaines femmes sont admissibles à la chimioprévention. Il faut offrir aux femmes dont le risque à vie de cancer du sein est de 20 à 25 % ou plus un dépistage poussé par imagerie par résonance magnétique en plus d’une mammographie. Conclusion Une vie saine et la chimioprévention (chez les candidates) pourraient réduire l’incidence du cancer du sein; le dépistage poussé pourrait entraîner une détection plus précoce. Le fait d’aiguiller des femmes porteuses d’une mutation au BRCA vers la chirurgie de réduction des risques sauve des vies. PMID:27737991

A note on envy-free cake cutting with polynomial valuations

DEFF Research Database (Denmark)

Branzei, Simina

2015-01-01

number of players. The only existing finite envy-free cake cutting protocol for any number of players, designed by Brams and Taylor [4], has the property that its runtime can be made arbitrarily large by setting up the valuation functions of the players appropriately. Moreover, there is no closed formula...... that relates the valuation functions to the number of queries required by the protocol. In this note we show that when the valuations can be represented as polynomial functions, there exists a protocol in the standard query model that is much simpler conceptually and has a runtime bound depending...

ASPECTS OF THE STOCK VALUATION AND ACCOUNTING IN AGRICULTURAL UNITS IN ROMANIA

Directory of Open Access Journals (Sweden)

Mariana BANUTA

2014-11-01

Full Text Available This paper approaches a current and common and topical problem of the business entities operating in agriculture, the stock valuation and accounting problem. Thus, gradually the article starts from the delimitation of the categories of inventories in agriculture, continues with the reasons for the need to valuate them and shows the stock valuation methods in the current accounting and in other specific situations.

L'administration du travail et la production du droit du travail (1906-1960). : Note de synthèse du rapport de recherche

OpenAIRE

Le Crom , Jean-Pierre

2007-01-01

Synthèse d'un rapport de recherche dont l'objectif est d'appréhender le rôle de l'administration centrale du travail dans la production du droit du travail. Deux dimensions sont explorées : le profil des rédacteurs et l'organisation des structures.

Economic Valuation of Contamination Risks and its Effect on Site Investigations

International Nuclear Information System (INIS)

Back, Paer-Erik; Rosen, Lars

2006-01-01

Risk management is an important part of contaminated land projects and different types of risks must be considered both during investigation and remediation phases, e.g. human health risks, ecological risks, risks for workers during remediation, and project risks. The latter can be risks associated with e.g. time delays due to technical or juridical problems, or failure of remediation techniques. To provide cost-efficient management of remediation projects, there is an incentive for economic valuation of the risk reduction provided by further investigation or remedial actions. The purpose of this paper is (1) to describe problems and possibilities with economic valuation of risk reductions, and (2) to illustrate how different valuation perspectives affect the extent of investigations. A decision analysis model is presented for integrating the valuation of health, ecological, and project risks

Economic Valuation of Contamination Risks and its Effect on Site Investigations

Energy Technology Data Exchange (ETDEWEB)

Back, Paer-Erik; Rosen, Lars [Chalmers Univ. of Technology, Goeteborg (Sweden). Dept. of Civil Engineering

2006-09-15

Risk management is an important part of contaminated land projects and different types of risks must be considered both during investigation and remediation phases, e.g. human health risks, ecological risks, risks for workers during remediation, and project risks. The latter can be risks associated with e.g. time delays due to technical or juridical problems, or failure of remediation techniques. To provide cost-efficient management of remediation projects, there is an incentive for economic valuation of the risk reduction provided by further investigation or remedial actions. The purpose of this paper is (1) to describe problems and possibilities with economic valuation of risk reductions, and (2) to illustrate how different valuation perspectives affect the extent of investigations. A decision analysis model is presented for integrating the valuation of health, ecological, and project risks.

A Formal Valuation Framework for Emotions and Their Control.

Science.gov (United States)

Huys, Quentin J M; Renz, Daniel

2017-09-15

Computational psychiatry aims to apply mathematical and computational techniques to help improve psychiatric care. To achieve this, the phenomena under scrutiny should be within the scope of formal methods. As emotions play an important role across many psychiatric disorders, such computational methods must encompass emotions. Here, we consider formal valuation accounts of emotions. We focus on the fact that the flexibility of emotional responses and the nature of appraisals suggest the need for a model-based valuation framework for emotions. However, resource limitations make plain model-based valuation impossible and require metareasoning strategies to apportion cognitive resources adaptively. We argue that emotions may implement such metareasoning approximations by restricting the range of behaviors and states considered. We consider the processes that guide the deployment of the approximations, discerning between innate, model-free, heuristic, and model-based controllers. A formal valuation and metareasoning framework may thus provide a principled approach to examining emotions. Copyright © 2017 Society of Biological Psychiatry. Published by Elsevier Inc. All rights reserved.

Spring cleaning: rural water impacts, valuation, and property rights institutions.

Science.gov (United States)

Kremer, Michael; Leino, Jessica; Miguel, Edward; Zwane, Alix Peterson

2011-01-01

Using a randomized evaluation in Kenya, we measure health impacts of spring protection, an investment that improves source water quality. We also estimate households' valuation of spring protection and simulate the welfare impacts of alternatives to the current system of common property rights in water, which limits incentives for private investment. Spring infrastructure investments reduce fecal contamination by 66%, but household water quality improves less, due to recontamination. Child diarrhea falls by one quarter. Travel-cost based revealed preference estimates of households' valuations are much smaller than both stated preference valuations and health planners' valuations, and are consistent with models in which the demand for health is highly income elastic. We estimate that private property norms would generate little additional investment while imposing large static costs due to above-marginal-cost pricing, private property would function better at higher income levels or under water scarcity, and alternative institutions could yield Pareto improvements.

The ecological rationality of state-dependent valuation.

Science.gov (United States)

McNamara, J M; Trimmer, P C; Houston, A I

2012-01-01

Laboratory studies on a range of animals have identified a bias that seems to violate basic principles of rational behavior: a preference is shown for feeding options that previously provided food when reserves were low, even though another option had been found to give the same reward with less delay. The bias presents a challenge to normative models of decision making (which only take account of expected rewards and the state of the animal at the decision time). To understand the behavior, we take a broad ecological perspective and consider how valuation mechanisms evolve when the best action depends upon the environment being faced. We show that in a changing and uncertain environment, state-dependent valuation can be favored by natural selection: Individuals should allow their hunger to affect learning for future decisions. The valuation mechanism that typically evolves produces the kind of behavior seen in standard laboratory tests. By providing an insight into why learning should be affected by the state of an individual, we provide a basis for understanding psychological principles in terms of an animal's ecology.

Valuation of international oil companies - size matters

International Nuclear Information System (INIS)

Mohn, Klaus

2005-01-01

According to economic theory, exploration and the development of new oil and gas fields should respond positively to increasing prices. But since the late 1990s, financial analysts have focused strongly on short-term accounting return measures, like RoACE (Return on Average Capital Employed), for benchmarking and valuation of international oil and gas companies. Consequently, the demands for strict capital discipline among oil and gas companies may have reduced their willingness to invest for future reserves and production growth. We investigate the presumed positive relation between RoACE and stock market valuation. Based on panel data for 12 international oil and gas companies for the period 1997-2002, we seek to establish econometric relations between market valuation on one hand, and simple financial and operational indicators on the other. Our findings do not support the perceived positive relation between reported RoACE and market-based multiples. Recent evidence also suggests that the stock market is increasingly concerned about reserve replacement and sustained profitable production growth. The current high-price, low-investment equilibrium is therefore hardly stable. (Author)

La demande de bois-énergie à Ouagadougou : esquisse d’évaluation de l’impact physique et des échecs des politiques de prix

Directory of Open Access Journals (Sweden)

Boukary Ouedraogo

2006-03-01

Full Text Available Cet article vise à évaluer non seulement la demande de bois-énergie de la ville de Ouagadougou, l’impact de cette demande sur le patrimoine forestier de l’aire d’approvisionnement de cette ville, mais aussi l’esquisse d’une évaluation des échecs des politiques de prix du bois-énergie. Les méthodes d’évaluation de la consommation de cette source d’énergie sont passées en revue au regard des conditions d’offre de la ressource et des données existantes sur la demande de cette ressource. Les données sur les inventaires forestiers de l’aire d’approvisionnement de Ouagadougou en bois-énergie, ainsi que des enquêtes sur les ménages et les artisans ont permis d’estimer la consommation de Ouagadougou en bois-énergie et son impact sur l’épuisement des ressources forestières du pays.This paper aims at evaluating not only the wood-energy demand of Ouagadougou, the physic impact of this city wood energy consumption on the forest of its provisioning area, together with the causes of wood-energy price policy failures. The evaluation’s methods of wood energy consumption are reviewed in comparison with the resource supply conditions and the availability on data of wood resource demand. The data on the forest inventories of the wood-energy provisioning surface of Ouagadougou, as well as investigations into the households and the craftsmen allows estimating the consumption of Ouagadougou in wood-energy and its impact on the forest resources’ depletion. some complementary analysis have been done on the main causes of wood energy price policy failures.

Relative valuation of alternative methods of tax avoidance

OpenAIRE

Inger, Kerry Katharine

2012-01-01

This paper examines the relative valuation of alternative methods of tax avoidance. Prior studies find that firm value is positively associated with overall measures of tax avoidance; I extend this research by providing evidence that investors distinguish between methods of tax reduction in their valuation of tax avoidance. The impact of tax avoidance on firm value is a function of tax risk, permanence of tax savings, tax planning costs, implicit taxes and contrasts in disclosures of tax re...

Effet du Pediococcus acidilactici sur le bilan lipidique sanguin du ...

African Journals Online (AJOL)

Les résultats relatifs aux performances zootechniques ont montré que l'addition du probiotique a amélioré significativement le gain de poids pendant la phase de croissance se traduisant par un indice de consommation meilleur. Les dosages du cholestérol total, des triglycérides, du HDL et du LDL ont été déterminés à la ...

The use of fuzzy real option valuation method to rank Giga ...

African Journals Online (AJOL)

The use of fuzzy real option valuation method to rank Giga Investment Projects on Iran's natural gas reserves. ... Journal of Fundamental and Applied Sciences ... methodology – discounted cash flow analysis – in valuation of Giga investments.

Analysis of Interbrand, BrandZ and BAV brand valuation methodologies

Directory of Open Access Journals (Sweden)

Krstić Bojan

2011-01-01

Full Text Available Brand valuation is considered for one of the most significant challenges of not only theory and practice of contemporary marketing, but other disciplines, as well. Namely, the complex nature of this issue implies the need for multidisciplinary approach and creation of methodology which goes beyond the borders of marketing as a discipline, and includes knowledge derived from accounting, finance and other areas. However, mostly one-sided approaches oriented towards determining brand value either based on research results of consumer behavior and attitudes or based on financial success of the brand are dominant in marketing and financial literature. Simultaneously with these theoretical methodologies, agencies for consultancy and marketing and other subjects have been developing their own brand valuation methods and models. Some of them can be appointed to comprehensive approach to brand valuation, which overcomes mentioned problem considering one-sided analysis of brand value. The comprehensive approach, namely, presumes brand valuation based on benefits which brand provides to both customers and enterprise that owns it, in other words - based on qualitative and quantitative measures respectively reflecting behavior and attitudes of consumers and assumed financial value of the brand, or, more precisely, brand value capitalization. According to the defined research subject, this paper is structured as follows: importance and problem of brand value are reviewed in the Introduction, and three most well-known brand valuation methodologies developed by consultancy agencies - Interbrand methodology and BrandZ and BAV models are analyzed in the next section. In the further considerations the results of comparative analysis of these methodologies are presented and implications for adequate brand valuation suggested.

Alimentation du nouveau-ne et du nourrisson dans la region ...

African Journals Online (AJOL)

Alimentation du nouveau-ne et du nourrisson dans la region centrale du togo : pratiques familiales et communautaires avant la mise en oeuvre de la strategie « prise en charge integree des maladies de l'enfant »

Benefit-based tree valuation

Science.gov (United States)

E.G. McPherson

2007-01-01

Benefit-based tree valuation provides alternative estimates of the fair and reasonable value of trees while illustrating the relative contribution of different benefit types. This study compared estimates of tree value obtained using cost- and benefit-based approaches. The cost-based approach used the Council of Landscape and Tree Appraisers trunk formula method, and...

29 CFR 4281.16 - Benefit valuation methods-plans closing out.

Science.gov (United States)

2010-07-01

..., as determined under this subpart. (b) Valuation rule. The present value of nonforfeitable benefits... 4281(b) of ERISA, the plan sponsor shall value the plan's benefits in accordance with paragraph (b) of... 29 Labor 9 2010-07-01 2010-07-01 false Benefit valuation methods-plans closing out. 4281.16...

[Health valuations for patients with chronic ischemic heart disease].

Science.gov (United States)

Meder, M; Farin, E

2011-08-01

The study deals with the question of how patients with chronic ischemic heart disease assess different health situations that can be achieved by rehabilitation. Furthermore it examines which factors influence these health valuations and whether the predictors vary depending on the level of education. The health valuations of n = 331 patients with chronic ischemic heart disease are compiled using visual analogue scales (VAS). In addition to sociodemographic questions, generic and illness-specific scales (SF-12, MacNew) for the health-related quality of life (HRQOL) are used as potential predictors of the health valuations. Additional basic medical data were provided by the physician. Hierarchical regression analyses are conducted; the sociodemographic, medical and HRQOL variables are included stepwise. Since many variables are observed for the regression models, an imputation of missing values is made. The health dimensions "Self-care and domestic life" and "Mobility" are assigned the highest values on the VAS. The lowest preference is assigned to the dimensions "Reduction of symptoms" and "Information about the disease". The differences between the health dimensions are statistically significant. Sociodemographic variables explain up to 3.6% of the variance of health valuations, with level of education and living with a partner being the most important predictors. The medical variables included in the second step explain between 2.1 and 6.8% incremental variance; the most important predictor is the operation performed prior to rehabilitation (bypass, heart valve). The HRQOL variables in the third block provide 7.1-24.9% incremental explanation of variance, by far the highest percentage. This is mainly achieved using the 3 MacNew scales (emotional, social and physical functioning). The overall explanation of variance for the health valuations is 17.1-28.8%. For patients with a higher level of education, the total explanation of variance is about 9.2% higher on

THE PROBLEM OF URBAN LAND MASS VALUATION OBJECTIVENESS AND WAYS OF SOLVING IT

Directory of Open Access Journals (Sweden)

DRAPIKOVSKYI O. I.

2015-12-01

Full Text Available Raising of problem. Implementation of prudent investment, urban planning and fiscal policy is possible only if there is knowledge of the real value of land in the entire city, which is obtained by the mass appraisal of urban land. The implementation of this important social function puts strict requirements for urban land mass valuation results objectiveness and comparability, stated in the international sectoral standards and regulations. Purpose. The aim of the article is to determine the basic requirements to urban land mass valuation results objectiveness maintenance and to analyse the compliance of the normative monetary valuation with these requirements. Conclusion. The problem of urban land mass valuation objectiveness can be considered through the prism of the ontological, epistemological and logical aspects, compliance with which allows the anticipation of the expected improvement of this valuation methodological apparatus efficiency.

Portage vaginal du streptocoque du groupe B chez la femme ...

African Journals Online (AJOL)

Introduction: le streptocoque du groupe B est le principal agent impliqué dans les infections materno-fœtales, les septicémies et les méningites du nouveau-né à terme. L'objectif est de déterminer le taux de portage maternel du streptocoque du groupe B (SGB) à terme. Méthodes: un prélèvement vaginal a été réalisé de ...

Valuation of Embalse Nuclear Power Plant and of heavy water

International Nuclear Information System (INIS)

Martin, D.E.

2008-01-01

The author describes the Nuclear Power Plant characteristics, the building work, the heavy water valuation criteria and the reasons why he considers that any capital good can be valuated by means of cash-flow. The value of replacement of Embalse Nuclear Power Plant is of U$S 1.593.538.000 (authors) [es

Interactive valuation : the social construction of the value of ecological services

NARCIS (Netherlands)

Jiggins, J.; Röling, N.

1999-01-01

Two different perspectives mark the discourse about the valuation of ecological services: (i) a positivist-realist perspective, and (ii) a constructivist perspective. The implications of the constructivist perspective for valuation are presented. First, is analyzed the current dominant practice of

26 CFR 1.430(g)-1 - Valuation date and valuation of plan assets.

Science.gov (United States)

2010-04-01

... the adjusted fair market value of plan assets, assets that are added to a plan as a result of a plan... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Certain Stock Options § 1.430(g)-1 Valuation date and.... Paragraph (c) of this section describes rules regarding the determination of the asset value for purposes of...

Valuating Privacy with Option Pricing Theory

Science.gov (United States)

Berthold, Stefan; Böhme, Rainer

One of the key challenges in the information society is responsible handling of personal data. An often-cited reason why people fail to make rational decisions regarding their own informational privacy is the high uncertainty about future consequences of information disclosures today. This chapter builds an analogy to financial options and draws on principles of option pricing to account for this uncertainty in the valuation of privacy. For this purpose, the development of a data subject's personal attributes over time and the development of the attribute distribution in the population are modeled as two stochastic processes, which fit into the Binomial Option Pricing Model (BOPM). Possible applications of such valuation methods to guide decision support in future privacy-enhancing technologies (PETs) are sketched.

Olivier Chanel et Guillaume Faburel (dir., 2010, L’Environnement dans la décision publique : Refonder l’évaluation socio-économique pour des politiques de transport plus durables, Economica, Paris, 230 p.

Directory of Open Access Journals (Sweden)

Adrien de Abreu

2010-09-01

Full Text Available Quid des impacts environnementaux dans l’évaluation socio-économique des projets d’infrastructure ? C’est sous l’angle des équipements de transport que les auteurs abordent cette question, dirigés par Olivier Chanel et Guillaume Faburel. Olivier Chanel est chercheur en économie de l’environnement au sein du GREQAM (Groupement de recherche en économie quantitative d’Aix-Marseille. Guillaume Faburel est Maître de conférences à l’Université Paris 12 - Val de Marne et chercheur au CRETEIL (Centr...

Utilizing 3D building and 3D cadastre geometries for better valuation of existing real estate

NARCIS (Netherlands)

Isikdag, U.; Horhammer, M.; Zlatanova, S.; Kathmann, R.; Van Oosterom, P.J.M.

2015-01-01

Valuation of the properties is known as real estate appraisal, property valuation or land valuation and is a process which focuses on determining the value of a building or a land lot. The valuation of each real estate is required prior to any transaction as every property is unique in terms of

Mesurer la ville par l’évaluation et la caractérisation du sol urbain : l’exemple de Tours To measure the city by the evaluation and characterization of urban land: the example of Tours

Directory of Open Access Journals (Sweden)

Amélie Laurent

2011-01-01

Full Text Available Deux thèses récentes d’archéologie ont été engagées sur la compréhension du sol urbain de Tours et menées dans le cadre des recherches archéologiques développées depuis une quarantaine d’années. Elles ont porté plus particulièrement sur l’analyse des caractéristiques et des principes d’exhaussement du sol urbain, correspondant à l’ensemble du dépôt archéologique de la ville.Ces travaux ont concerné deux échelles complémentaires traditionnellement employées en archéologie urbaine : l’évaluation, à l’échelle de la ville, et la caractérisation, à l’échelle du site. Fondées sur l’utilisation d’outils issus des Sciences de la Terre et appliqués dans une problématique d’histoire de la ville, deux nouvelles approches de la stratification des villes pré-industrielles ont été développées, la première concernant la microarchéologie, la seconde, la géotechnique appliquée au dépôt archéologique.Menées conjointement, les deux études présentent un double intérêt : le premier, d’ordre général, concerne la mise en œuvre d’une méthodologie applicable à tout phénomène urbain, en particulier par la création d’un référentiel commun des strates archéologiques, permettant de caractériser des dépôts indéterminés ; le second intérêt, plus ponctuel, concerne l’application de ces principes généraux à un cas particulier de formation du sol urbain, celui de Tours. La modélisation des résultats à l’échelle de la ville implique que l’acquisition des données sur le terrain intègre une problématique historique et topographique.Two recent archaeological theses have been involved with the understanding of the urban archaeology of Tours and conducted as part of the archaeological research developed over a 40-year period. They particularly cover the analysis of the characteristics and principles of the raising of urban land, corresponding to the entire archaeological

Évaluation de la légitimité du secteur de la sécurité au Timor-Leste ...

International Development Research Centre (IDRC) Digital Library (Canada)

Belun, une organisation de la société civile timoraise, réalisera le projet avec son partenaire de longue date, l'Arnold A. Saltzman Institute of War and Peace Studies de l'Université Columbia. Ce partenariat appuiera le perfectionnement des compétences en recherche du personnel de Belun et renforcera les capacités de ...

Définition d’un profil d’apprenant en situation d’auto-évaluation Visualization of Learner’s Profile in Self-Testing Situation

Directory of Open Access Journals (Sweden)

Philippe Teutsch

2000-06-01

Full Text Available Ce texte présente un projet de recherche pluridisciplinaire (didactique du FLE et EIAO centré sur la modélisation de l’apprenant. Le système GCSE valide les compétences d’un public placé en situation d’évaluation par un environnement multimédia de test des habiletés linguistiques. Le repérage et le classement des erreurs par le système permettent de constituer des corpus de fautes rendus accessibles avec leur contexte de production. On dispose ainsi d’éléments nécessaires à la constitution d’un profil par la mise en forme de différents niveaux : validation de la compétence globale, performances spécifiques dans telle partie du texte, types d’erreurs récurrents, corpus constitués des fautes rencontrées. Les outils mis en place ont pour but d’aider l’utilisateur à construire un parcours d’auto-évaluation : relecture des activités, mise en relation d’éléments originellement séparés. Ils permettent également à un évaluateur de disposer d’indices pertinents quant au niveau de performance atteint par l’apprenant.Our paper will present a pluridisciplinarial research (French as a Foreign Language, AIED centered on learner’s modeling in language learning. The system in development (GSCE validates the competences in a situation of skills evaluation by using an Internet site. The aim of the project is to set an interactive environment to strength motivation of the learner by providing self-evaluation tools. The work of conception and development stress the error analysis, specifically in short answers to open questions, so as their visualization under synthetic forms aiming learners as well as teachers. The localization and the classification of these mistakes by the system allows a visual restitution in the context of their production

Le ministre du Commerce international du Canada rencontre des ...

International Development Research Centre (IDRC) Digital Library (Canada)

17 juil. 2017 ... La promotion de l'entrepreneuriat, la façon dont le commerce peut profiter aux femmes et à leur famille, et la création d'emplois pour les plus vulnérables étaient au coeur de la discussion en table ronde du ministre du Commerce international du Canada, l'honorable François-Philippe Champagne, et des ...

Valuation anomalies for interconnector transmission rights

International Nuclear Information System (INIS)

McInerney, Celine; Bunn, Derek

2013-01-01

Whilst the acquisition of physical transmission interconnector rights between two or more electricity markets can be structured as spread options on the spot prices of electricity between connected markets, empirical evidence suggests that actual prices may be quite different. This raises issues for the valuation of transmission rights, particularly in the European context of market harmonisation, and the use of transmission rights with increasing levels of wind penetration. We examine the price differentials between the Irish and British electricity markets, where explicit transmission capacity auctions have been persistently undersubscribed and transmission rights acquired but not fully utilised. We find significant empirical indications that auction prices for transmission rights are undervalued against both arbitrage and spread option valuations. We also find significant power flows against the efficient price spread direction. A survey of a group of experts with an interest in trading power between Ireland and Britain inform a number of possible explanations for the apparent inefficiencies. These include ex-post pricing in the Irish market, intermittent wind and strategic behaviour by dominant firms. - Highlights: ► Valuation anomalies for transmission rights highlight lack of market integration. ► Exports constrained from market with ex post pricing and no hedging mechanisms. ► High start-up costs for balancing plant may deter exports from high wind regions. ► Deadband created by capacity payments based on flows versus availability

Valuation of Electric Power System Services and Technologies

Energy Technology Data Exchange (ETDEWEB)

Kintner-Meyer, Michael C. W. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Homer, Juliet S. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Balducci, Patrick J. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Weimar, Mark R. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States)

2017-08-01

Accurate valuation of existing and new technologies and grid services has been recognized to be important to stimulate investment in grid modernization. Clear, transparent, and accepted methods for estimating the total value (i.e., total benefits minus cost) of grid technologies and services are necessary for decision makers to make informed decisions. This applies to home owners interested in distributed energy technologies, as well as to service providers offering new demand response services, and utility executives evaluating best investment strategies to meet their service obligation. However, current valuation methods lack consistency, methodological rigor, and often the capabilities to identify and quantify multiple benefits of grid assets or new and innovative services. Distributed grid assets often have multiple benefits that are difficult to quantify because of the locational context in which they operate. The value is temporally, operationally, and spatially specific. It varies widely by distribution systems, transmission network topology, and the composition of the generation mix. The Electric Power Research Institute (EPRI) recently established a benefit-cost framework that proposes a process for estimating multiple benefits of distributed energy resources (DERs) and the associated cost. This document proposes an extension of this endeavor that offers a generalizable framework for valuation that quantifies the broad set of values for a wide range of technologies (including energy efficiency options, distributed resources, transmission, and generation) as well as policy options that affect all aspects of the entire generation and delivery system of the electricity infrastructure. The extension includes a comprehensive valuation framework of monetizable and non-monetizable benefits of new technologies and services beyond the traditional reliability objectives. The benefits are characterized into the following categories: sustainability, affordability, and

Modélisation du risque incendie de forêt dans les interfaces habitats-forêts

Directory of Open Access Journals (Sweden)

LAMPIN, Corinne

2015-06-01

Full Text Available En région méditerranéenne, les forêts sont régulièrement la proie des flammes, avec des conséquences écologiques, économiques et sociales souvent désastreuses. Les zones où l'habitat est en contact étroit avec la forêt représentent plus particulièrement un danger et deviennent une véritable préoccupation pour les gestionnaires, qui ont besoin d'outils de localisation pour agir et limiter les risques d'incendies dans ces territoires. Cet article nous présente une méthode innovante d'évaluation du risque fondée sur l’observation et la description ainsi que sur une analyse spatiale et statistique de ces zones à risque.

Modélisation du risque incendie de forêt dans les interfaces habitats-forêts

Directory of Open Access Journals (Sweden)

LAMPIN, Corinne ; JAPPIOT, Marielle ; FERRIER, Jean-Paul

2011-12-01

Full Text Available En région méditerranéenne, les forêts sont régulièrement la proie des flammes, avec des conséquences écologiques, économiques et sociales souvent désastreuses. Les zones où l'habitat est en contact étroit avec la forêt représentent plus particulièrement un danger et deviennent une véritable préoccupation pour les gestionnaires, qui ont besoin d'outils de localisation pour agir et limiter les risques d'incendies dans ces territoires. Cet article nous présente une méthode innovante d'évaluation du risque fondée sur l’observation et la description ainsi que sur une analyse spatiale et statistique de ces zones à risque.

UNE INTERPRETATION DU TAUX DE CHANGE

Directory of Open Access Journals (Sweden)

Galina ULIAN

2015-03-01

Full Text Available Dans l’étude ci-dessous on a été réalisé une interprétation de l'impact des fluctuations des taux de change du leu moldave (MDL sur certaines variables économiques. La période considérée est Novembre-Décembre 2014 et le début de l'année 2015. Notamment au cours de cette période, le taux de la monnaie nationale par rapport aux principales devises de référence de change a commencé la voie de fortes dévaluations. Cette tendance, cependant, s’est placée dans le contexte des situations similaires dans la région, qui a ainsi permis sa dépréciation graduelle. Compte tenu que la dépréciation de la monnaie est un phénomène aux effets complexes et multilatérales, une fois arrivé dans un pays "X", celui-ci devrait, afin d'améliorer la situation, en premier lieu, augmenter leur présence sur d'autres marchés de ventes, plus stable et avec de plus grandes possibilités.

Critical Appraisal of Information on the Web in Practice: Undergraduate Students’ Knowledge, Reported Use, and Behaviour / Évaluation critique de l’information sur la toile : une vision pratique : les connaissances des étudiants de premier cycle, leur uti

Directory of Open Access Journals (Sweden)

Neil R. Hogan

2012-02-01

Full Text Available Undergraduates use a wide range of information resources for academic and nonacademic purposes, including web sites that range from credible, peer reviewed, online journal sites, to biased and inaccurate promotional web sites. Students are taught basic critical appraisal skills, but do they apply these skills to make decisions about information in different web sites? In an experimental setting, undergraduate students examined pairs of web sites containing conflicting information based on different aspects of critical appraisal, namely credibility of the author of the information, purpose of the web site, and last update of the site, and answered multiple choice questions about the conflicting information. Results indicated that students failed to use critical appraisal criteria, and that while knowledge of and self-reported use of these criteria were related to each other, they were not related to behaviour. This research demonstrates the need for alternative strategies for critical appraisal instruction and assessment. Les étudiants de premier cycle consultent une vaste gamme de sources d’information à des fins universitaires et non universitaires, y compris des sites Web allant de revues en ligne crédibles et évaluées par des pairs à des sites Web promotionnels partials et inexacts. On enseigne aux étudiants des méthodes de base d’évaluation critique, mais mettent-ils ces méthodes en pratique pour prendre des décisions relativement à l’information tirée de différents sites Web? Dans un cadre expérimental, les étudiants de premier cycle ont étudié des paires de sites Web contenant des informations contradictoires en se fondant sur différents aspects de l’évaluation critique, notamment la crédibilité de l’auteur de l’information, l’intention du site Web et la dernière mise à jour du site, et ont répondu à des questions à choix multiples concernant les informations contradictoires. Les r

Social relationships as a major determinant in the valuation of health states.

Science.gov (United States)

Frick, Ulrich; Irving, Hyacinth; Rehm, Jürgen

2012-03-01

To empirically determine the impact of the capacity to sustain social relationships on valuing health states. 68 clinical experts conducted a health state valuation exercise in five sites using pairwise comparison, ranking, and person trade-off as elicitation methods. 23,840 pairwise comparisons of a total of 379 health states were analyzed by conditional logistic regression. Social relationships had a clear monotonic association with perceived disability: the more limited the capacity to sustain social relationships, the more disabling the resulting health state valuations. The highest level of limitations with respect to social relationships was associated with slightly lower impact on health state valuations compared to the highest level of limitations in physical functioning. Social relationships showed an independent contribution to health state valuations and should be included in health state measures.

Option Valuation with Observable Volatility and Jump Dynamics

DEFF Research Database (Denmark)

Christoffersen, Peter; Feunoua, Bruno; Jeon, Yoontae

Under very general conditions, the total quadratic variation of a jump-diffusion process can be decomposed into diffusive volatility and squared jump variation. We use this result to develop a new option valuation model in which the underlying asset price exhibits volatility and jump intensity...... dynamics. The volatility and jump intensity dynamics in the model are directly driven by model-free empirical measures of diffusive volatility and jump variation. Because the empirical measures are observed in discrete intervals, our option valuation model is cast in discrete time, allowing...

Option Valuation with Observable Volatility and Jump Dynamics

DEFF Research Database (Denmark)

Christoffersen, Peter; Feunoua, Bruno; Jeon, Yoontae

2015-01-01

Under very general conditions, the total quadratic variation of a jump-diffusion process can be decomposed into diffusive volatility and squared jump variation. We use this result to develop a new option valuation model in which the underlying asset price exhibits volatility and jump intensity...... dynamics. The volatility and jump intensity dynamics in the model are directly driven by model-free empirical measures of diffusive volatility and jump variation. Because the empirical measures are observed in discrete intervals, our option valuation model is cast in discrete time, allowing...

Application of monetary valuation in Life Cycle Assessment

DEFF Research Database (Denmark)

Weidema, Bo Pedersen; Pizzol, Massimo; Miguel, Brandão

Monetary valuation, or monetarisation, is the determination of the economic value of non-market goods, i.e. goods for which no market exists. Although monetary valuation has a great potential to be applied in Life Cycle Assessment (LCA), in particular in the weighting phase, several challenges...... for LCA. For the two surveys, the total number of respondents was 209. The critial review showed that observed- and revealed-preference methods and the abatement cost method have limited applicability in LCA, whereas the conjoint analysis method and the budget constraint method are the best options...

Efficacité relative des grilles de correction d'un test de jugement situationnel pour la sélection du personnel de centres d'appels

OpenAIRE

Poirier, Sabrina

2016-01-01

Dans le domaine des centres d’appels, l’affectation d’agents au service à la clientèle efficaces et satisfaits représente une activité cruciale pour toute direction dédiée aux ressources humaines de ces unités d’affaires. Or, pour parvenir à prendre de bonnes décisions d’embauche et de rejet, des instruments de mesure et d’évaluation des compétences sont souvent mis à contribution. À cet effet, les tests de jugement situationnel (TJS) sont de plus en plus utilisés pour la sélection du personn...

Comparaison du filtre adaptatif RIF et du filtre a base de reseau de ...

African Journals Online (AJOL)

Comparaison du filtre adaptatif RIF et du filtre a base de reseau de neurones pour le filtrage du courant de reference pour la commande du filtre actif parallele. C Benachaiba, A Bassou, B Mazari ...

Etat Du Magnesium Dans Quelques Sols Sales Du Sud Et Du ...

African Journals Online (AJOL)

étude a été réalisée sur 86 échantillons de sols provenant du Centre et du Sud de l´Irak. L\\'expérimentation a consisté, d´une part, à calculer les différents sels dominants dans les sols salés par la méthode de combinaison hypothétique et, ...

Land valuation and marginalization processes in cultural landscapes - a comparative study of valuation systems related to natural and semi-natural areas

DEFF Research Database (Denmark)

Christensen, Andreas Aagaard; Svenningsen, Stig Roar; Brandt, Jesper

2012-01-01

awareness that the behavior of rural landscape managers reflect culture, and that cultural valuation systems need to be included in research addressing such themes as sustainability and multifunctionality which is often difficult to regulate effectively and depend directly on local decision behavior. Two......, their preferences for different areas and their valuation procedures related to landscape and land cover. The maps developed with the interviewees were compared with maps delineating the 205 Natura-2000 habitat areas in the nature park which were designated by the Danish Nature Agency in 2006. Results...

Gas Storage Valuation and Hedging: A Quantification of Model Risk

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Patrick Hénaff

2018-03-01

Full Text Available This paper focuses on the valuation and hedging of gas storage facilities, using a spot-based valuation framework coupled with a financial hedging strategy implemented with futures contracts. The contributions of this paper are two-fold. Firstly, we propose a model that unifies the dynamics of the futures curve and spot price, and accounts for the main stylized facts of the US natural gas market such as seasonality and the presence of price spikes in the spot market. Secondly, we evaluate the associated model risk, and show not only that the valuation is strongly dependent upon the dynamics of the spot price, but more importantly that the hedging strategy commonly used in the industry leaves the storage operator with significant residual price risk.

VALUATION FOR BIOLOGICAL ASSETS WITH HISTORICAL COST ACCOUNTING OR FAIR VALUE ACCOUNTING ?

OpenAIRE

Valentin Gabriel CRISTEA

2017-01-01

The valuation for biological assets is regulated by IAS 41. Interesting debate is what valuation models it is better to use: historical cost accounting or fair value accounting? I will discuss advantages and disadvantages in this case.

The valuation of commercial grain silos

African Journals Online (AJOL)

The valuation of grain silos is a complex exercise when one considers all the variables that affect their ... their grains, larger grain-processing companies, traders, importers or exporters that have ..... 2015: personal interview). The percentages ...

Neuroscience and approach/avoidance personality traits: a two stage (valuation-motivation) approach.

Science.gov (United States)

Corr, Philip J; McNaughton, Neil

2012-11-01

Many personality theories link specific traits to the sensitivities of the neural systems that control approach and avoidance. But there is no consensus on the nature of these systems. Here we combine recent advances in economics and neuroscience to provide a more solid foundation for a neuroscience of approach/avoidance personality. We propose a two-stage integration of valuation (loss/gain) sensitivities with motivational (approach/avoidance/conflict) sensitivities. Our key conclusions are: (1) that valuation of appetitive and aversive events (e.g. gain and loss as studied by behavioural economists) is an independent perceptual input stage--with the economic phenomenon of loss aversion resulting from greater negative valuation sensitivity compared to positive valuation sensitivity; (2) that valuation of an appetitive stimulus then interacts with a contingency of presentation or omission to generate a motivational 'attractor' or 'repulsor', respectively (vice versa for an aversive stimulus); (3) the resultant behavioural tendencies to approach or avoid have distinct sensitivities to those of the valuation systems; (4) while attractors and repulsors can reinforce new responses they also, more usually, elicit innate or previously conditioned responses and so the perception/valuation-motivation/action complex is best characterised as acting as a 'reinforcer' not a 'reinforcement'; and (5) approach-avoidance conflict must be viewed as activating a third motivation system that is distinct from the basic approach and avoidance systems. We provide examples of methods of assessing each of the constructs within approach-avoidance theories and of linking these constructs to personality measures. We sketch a preliminary five-element reinforcer sensitivity theory (RST-5) as a first step in the integration of existing specific approach-avoidance theories into a coherent neuroscience of personality. Copyright © 2012 Elsevier Ltd. All rights reserved.

Valuation of gas stored in salt cavern facilities

Energy Technology Data Exchange (ETDEWEB)

Bond, Michael A. [St. Mary' s University, TX (United States); Grant, Floyd H. [Purdue University, IN (United States)

2008-07-01

Since natural gas production is relatively inelastic towards demand in the short term, underground storage is used as a buffer against periods of high demand. Of the three most common storage facility types, depleted reservoirs, aquifers and manmade salt caverns, the latter is the most costly to develop. The challenge then is to maximize profits through efficient operation, well-timed injection and withdrawal of gas. The valuation of a commodity in storage is a challenging problem and has been the subject of study for decades. We investigate selected existing valuation approaches and look for ways to leverage salt-cavern-specific physical characteristics for financial advantage. The basis for our valuation is the Black-Scholes model for pricing options. Then, applying Monte-Carlo methods and simulation, we model combinations of characteristics in multi-cavern facilities and their impact on profitability. We describe the theory behind our work and our analytical framework and provide numerical results of our analysis. Our approach offers increased efficiency in salt-cavern gas storage facility operations. (author)

VALUATION FOR BIOLOGICAL ASSETS WITH HISTORICAL COST ACCOUNTING OR FAIR VALUE ACCOUNTING ?

Directory of Open Access Journals (Sweden)

Valentin Gabriel CRISTEA

2017-05-01

Full Text Available The valuation for biological assets is regulated by IAS 41. Interesting debate is what valuation models it is better to use: historical cost accounting or fair value accounting? I will discuss advantages and disadvantages in this case.

MONTE CARLO SIMULATION AND VALUATION: A STOCHASTIC APPROACH SIMULAÇÃO DE MONTE CARLO E VALUATION: UMA ABORDAGEM ESTOCÁSTICA

Directory of Open Access Journals (Sweden)

Marcos Roberto Gois de Oliveira

2013-01-01

Full Text Available Among the various business valuation methodologies, the discounted cash flow is still the most adopted nowadays on both academic and professional environment. Although many authors support thatmethodology as the most adequate one for business valuation, its projective feature implies in an uncertaintyissue presents in all financial models based on future expectations, the risk that the projected assumptionsdoes not occur. One of the alternatives to measure the risk inherent to the discounted cash flow valuation isto add Monte Carlo Simulation to the deterministic business valuation model in order to create a stochastic model, which can perform a statistic analysis of risk. The objective of this work was to evaluate thepertinence regarding the Monte Carlo Simulation adoption to measure the uncertainty inherent to the business valuation using discounted cash flow, identifying whether the Monte Carlo simulation enhance theaccuracy of this asset pricing methodology. The results of this work assures the operational e icacy ofdiscounted cash flow business valuation using Monte Carlo Simulation, confirming that the adoption of thatmethodology allows a relevant enhancement of the results in comparison with those obtained by using thedeterministic business valuation model.Dentre as diversas metodologias de avaliação de empresas, a avaliação por fluxo de caixa descontadocontinua sendo a mais adotada na atualidade, tanto no meio acadêmico como no profissional. Embora  essametodologia seja considerada por diversos autores como a mais adequada para a avaliação de empresas no contexto atual, seu caráter projetivo remete a um componente de incerteza presente em todos os modelos baseados em expectativas futuras o risco de as premissas de projeção adotadas não se concretizarem. Uma das alternativas para a mensuração do risco inerente à avaliação de empresas pelo fluxo de caixa descontadoconsiste na incorporação da Simulação de Monte

7 CFR 3015.55 - Valuation of donated equipment, buildings, and land.

Science.gov (United States)

2010-01-01

... 7 Agriculture 15 2010-01-01 2010-01-01 false Valuation of donated equipment, buildings, and land...-Sharing or Matching § 3015.55 Valuation of donated equipment, buildings, and land. When a third party... donated property shall depend upon the purpose of the grant or subgrant as follows: (a) Awards for capital...

Utile, utilisable, désirable redessiner les bibliothèques pour leurs utilisateurs

CERN Document Server

Etches, Amanda

2016-01-01

Useful, usable, desirable, publié par l’American Library Association (ALA) en 2014, est à la fois un manifeste et un guide pratique, proche du livre de recettes, résolument centré sur l’utilisateur des bibliothèques et qui permet de faire une auto-évaluation de son propre établissement et d’engager des chantiers d’amélioration des services aux publics. Écrit dans un style très proche du guide touristique, interpellant le lecteur, il a pour ambition de s’adresser à tout professionnel des bibliothèques, quels que soient son grade, sa nationalité et l’établissement dans lequel il travaille. La traduction, collaborative, est réalisée par une équipe de bibliothécaires, et supervisée par Nathalie Clot.

Valuation of Construction Projects Based on of Quantity Scale by using Expert System

Directory of Open Access Journals (Sweden)

Entisar Kadhim Rasheed

2016-02-01

Full Text Available The subject of an valuation of quality of construction projects is one of the topics which it becomes necessary of the absence of the quantity standards in measuring the control works and the quality valuation standards in constructional projects. In the time being it depends on the experience of the workers which leads to an apparent differences in the valuation. The idea of this research came to put the standards to evaluate the quality of the projects in a special system depending on quantity scale nor quality specifying in order to prepare an expert system “ Crystal “ to apply this special system to able the engineers to valuate the quality of their projects easily and in more accurate ways.

Resource management and nonmarket valuation research

Science.gov (United States)

Douglas, A.J.; Taylor, J.G.

1999-01-01

Survey based nonmarket valuation research is often regarded as economics research. However, resource economists need to be aware of and acknowledge the manifold information sources that they employ in order to enhance the policy credibility of their studies. Communication between resource economists and practitioners of allied disciplines including chemistry, civil engineering, sociology, and anthropology are often neglected. Recent resource allocation policy debates have given rise to an extensive discussion of methodological issues that narrow the scope of the subject. The present paper provides a format for the presentation of nonmarket valuation research results that emphasizes the manifold links between economics studies that employ different methodologies to estimate nonmarket resource values. A more robust emphasis on the interlocking features of the different approaches for estimating nonmarket benefits should foster appreciation of the transdisciplinary aspects of the subject.

Considerations regarding the Valuation and Valorization of Cultural Heritage

Directory of Open Access Journals (Sweden)

Filip IORGULESCU

2011-12-01

Full Text Available This paper presents the theoretical framework for the valuation of cultural heritage and of the economic effects produced by investments in the preservation and restoration of cultural heritage. The following methods are considered: impact studies, hedonic pricing method, contingent valuation method and travel cost method. The paper focuses on methodological issues, difficulties encountered when implementing the methods, as well as on their specific limitations. Moreover, each method is illustrated through the results of quantitative studies in the field.

43 CFR 30.152 - May the parties to an agreement waive valuation of trust property?

Science.gov (United States)

2010-10-01

... valuation of trust property? 30.152 Section 30.152 Public Lands: Interior Office of the Secretary of the... parties to an agreement waive valuation of trust property? The parties to a settlement agreement or a consolidation agreement may waive valuation of trust property otherwise required by regulation or the Secretary...

Capturing Business Strategy and Value in Enterprise Architecture to Support Portfolio Valuation

NARCIS (Netherlands)

Iacob, Maria Eugenia; Quartel, Dick; Jonkers, H.

2012-01-01

This paper investigates and enhances the suitability of the Archi Mate enterprise architecture modeling language to support the modeling of business strategy concepts and architecture-based approaches to IT portfolio valuation. It gives an overview of existing strategy and valuation concepts and

Réflexion sur l’origine du processus de segmentation du marche du travail

Directory of Open Access Journals (Sweden)

Attia Nicole

2006-01-01

Full Text Available (francuski Ce travail propose une réflexion sur l'origine du processus de segmentation du marché du travail par rapport à l'entreprise. Se situe-t-elle au sein même de l'entreprise ou en amont, c'est à dire entre les entreprises? Cela revient à se demander si on peut avoir une approche microéconomique ou macroéconomique de la segmentation et, à s'interroger sur le rôle réel tenu par les firmes dans le processus. Déterminant pour la théorie, ce rôle est à repenser selon la réponse apportée à notre question.

Differences between individual and societal health state valuations: any link with personality?

Science.gov (United States)

Chapman, Benjamin P; Franks, Peter; Duberstein, Paul R; Jerant, Anthony

2009-08-01

The concept of "adaptation" has been proposed to account for differences between individual and societal valuations of specific health states in patients with chronic diseases. Little is known about psychological indices of adaptational capacity, which may predict differences in individual and societal valuations of health states. We investigated whether such differences were partially explained by personality traits in chronic disease patients. Analysis of baseline data of randomized controlled trial. Three hundred seventy patients with chronic disease. The NEO-five factor inventory measure of personality, EuroQoL-5D (EQ-5D) societal-based, and the EQ visual analogue scale individually-based measures of health valuation. Regression analyses modeled Dev, a measure of difference between the EQ-Visual Analogue Scale and EQ-5D, as a function of personality traits, sociodemographic factors, and chronic diseases. Individual valuations were significantly and clinically higher than societal valuations among patients in the second and third quartile of conscientiousness (Dev = 0.08, P = 0.01); among covariates, only depression (Dev = -0.04, P = 0.046) was also associated with Dev. Compared with societal valuations of a given health state, persons at higher quartiles of conscientiousness report less disutility associated with poor health. The effect is roughly twice that of some estimates of minimally important clinical differences on the EQ-5D and of depression. Although useful at the aggregate level, societal preference measures may systematically undervalue the health states of more conscientious individuals. Future work should examine the impact this has on individual patient outcome evaluation in clinical studies.

Grammaire progressive du français corrigés : niveau intermédiaire : avec 680 exercices

CERN Document Server

Thiévenaz, Odile

2013-01-01

Les corrigés de la 3e édition de la Grammaire progressive du français - niveau intermédiaire Ce qui fait le succès de cette grammaire : Une organisation claire : la leçon de grammaire sur la page de gauche ; les exercices d'entraînement sur la page de droite ; 52 chapitres présentant les points généralement abordés aux niveaux A2 et B1 du Cadre européen commun de référence pour les langues ; Un apprentissage progressif : il suit la progression naturelle des méthodes de français ; Un usage souple : pour la classe ou en auto-apprentissage ; Une préparation adaptée aux certifications : un entraînement efficace pour mieux réussir aux examens ; Une large place faite à l'évaluation : de nombreux exercices de révision et des bilans réguliers. À découvrir dans cette troisième édition tout en couleurs (ISBN 978 209 038 124 5) : Un CD audio avec 14 documents sonores ; 80 nouveaux exercices et activités communicatives ; Des chapitres révisés et des exercices plus variés ; Un test d'�...

Effect of impurities on the high-temperature brittleness of commercial grade beryllium; Influence des impuretes sur la fragilite a chaud du beryllium de purete commerciale

Energy Technology Data Exchange (ETDEWEB)

Mallen-Herrero, J M [Commissariat a l' Energie Atomique, Saclay (France). Centre d' Etudes Nucleaires

1963-05-15

The variation in the hot-ductility of as-extruded beryllium has been studied, first of all, as a function of the temperature and of the rate of application of the tractive force. At 600 deg. C intergranular brittle fractures were observed. The presence of a Portevin-Le Chatelier phenomenon in the region where the ductility decreases has made it possible for us to connect this brittleness with an impurity-dislocation interaction. Secondly, the influence has been studied of various thermal treatments on the ductility at 600 deg. C, on the presence of the Portevin-Le Chatelier phenomenon, on the aspect of the fracture and on the formation of a face-centred cubic product (a = 6.07 A) whose presence is accompanied by an improvement in the ductility. We show the existence of a correlation between these different parameters. The use of an electronic probe micro-analyser and of X-rays has made it possible to show that the role of the three main impurities is of prime importance in the mechanism of the hot-brittleness of commercial grade beryllium, the iron in solution being responsible for the impurity-dislocation interaction, the aluminium and the silicon being present in the form of a ternary Be-Al-Si eutectic with a melting point of 430 deg. C. As a result of suitable thermal treatments the iron migrates towards the liquid phase of the eutectic, situated at the grain boundaries, and forms a face-centred cubic Be-Al-Fe compound with a = 6.07 A. This has two consequences: the matrix becomes more liable to deformation and the liquid phase disappears to give way to a high melting point compound. These two effects result, in a notable improvement in the hot-ductility of commercial grade beryllium. (author) [French] La variation da la ductilite a chaud du beryllium brut de filage est etudiee, dans une premiere partie, en fonction de la temperature et de la vitesse de traction. Des cassures intergranulaires fragiles a 600 deg. C ont ete constatees. La presence d'un phenomene

Effect of impurities on the high-temperature brittleness of commercial grade beryllium; Influence des impuretes sur la fragilite a chaud du beryllium de purete commerciale

Energy Technology Data Exchange (ETDEWEB)

Mallen-Herrero, J.M. [Commissariat a l' Energie Atomique, Saclay (France). Centre d' Etudes Nucleaires

1963-05-15

The variation in the hot-ductility of as-extruded beryllium has been studied, first of all, as a function of the temperature and of the rate of application of the tractive force. At 600 deg. C intergranular brittle fractures were observed. The presence of a Portevin-Le Chatelier phenomenon in the region where the ductility decreases has made it possible for us to connect this brittleness with an impurity-dislocation interaction. Secondly, the influence has been studied of various thermal treatments on the ductility at 600 deg. C, on the presence of the Portevin-Le Chatelier phenomenon, on the aspect of the fracture and on the formation of a face-centred cubic product (a = 6.07 A) whose presence is accompanied by an improvement in the ductility. We show the existence of a correlation between these different parameters. The use of an electronic probe micro-analyser and of X-rays has made it possible to show that the role of the three main impurities is of prime importance in the mechanism of the hot-brittleness of commercial grade beryllium, the iron in solution being responsible for the impurity-dislocation interaction, the aluminium and the silicon being present in the form of a ternary Be-Al-Si eutectic with a melting point of 430 deg. C. As a result of suitable thermal treatments the iron migrates towards the liquid phase of the eutectic, situated at the grain boundaries, and forms a face-centred cubic Be-Al-Fe compound with a = 6.07 A. This has two consequences: the matrix becomes more liable to deformation and the liquid phase disappears to give way to a high melting point compound. These two effects result, in a notable improvement in the hot-ductility of commercial grade beryllium. (author) [French] La variation da la ductilite a chaud du beryllium brut de filage est etudiee, dans une premiere partie, en fonction de la temperature et de la vitesse de traction. Des cassures intergranulaires fragiles a 600 deg. C ont ete constatees. La presence d

A concept for biological valuation in the marine environment

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Eric Willem Maria Stienen

2007-03-01

Full Text Available In order to develop management strategies for sustainable useand conservation in the marine environment, reliable and meaningful,but integrated ecological information is needed. Biological valuationmaps that compile and summarize all available biological andecological information for a study area, and that allocate anoverall biological value to subzones, can be used as baselinemaps for future spatial planning at sea. This paper providesa concept for marine biological valuation which is based on aliterature review of existing valuation criteria and the consensusreached by a discussion group of experts.

Original Paper Performances comparées du HDL-cholestérol et du ...

African Journals Online (AJOL)

CT/HDL-C) et du HDL-Cholestérol est le meilleur prédicteur du SMet chez les adultes béninois. .... (Canada) et du. Ministère de la Santé du Bénin. Le consentement éclairé écrit a été obtenu de chaque participant avant leur recrutement dans.

Ellipsoids and matrix-valued valuations

OpenAIRE

Ludwig, Monika

2003-01-01

We obtain a classification of Borel measurable, GL(n) covariant, symmetric-matrix-valued valuations on the space of n-dimensional convex polytopes. The only ones turn out to be the moment matrix corresponding to the classical Legendre ellipsoid and the matrix corresponding to the ellipsoid recently discovered by E. Lutwak, D. Yang, and G. Zhang.

The measurement and inclusion of a stochastic ore-grade uncertainty in mine valuations using PDEs

OpenAIRE

Evatt, G. W.; Johnson, P. V.; Duck, P. W.; Howell, S. D.

2010-01-01

Mining companies world-wide are faced with the problem of how to accurately value and plan extraction projects subject to uncertainty in both future price and ore grade. Whilst the methodology of modelling price uncertainty is reasonably well understood, modelling ore-grade uncertainty is a much harder problem to formulate, and when attempts have been made the solutions have taken unfeasibly long times to compute. This paper provides a new partial differential equations approach to the proble...

Régionalisation du recrutement du personnel de santé au Burkina ...

International Development Research Centre (IDRC) Digital Library (Canada)

Régionalisation du recrutement du personnel de santé au Burkina Faso ... le ministère a adopté une politique de recrutement régionalisé de certaines catégories du ... de comprendre le contexte dans lequel une telle stratégie a été formulée, ...

The application of sustainable development principles to the theory and practice of property valuation

OpenAIRE

Lorenz, David Philipp

2006-01-01

This dissertation is an exploration into the fields of sustainable development, property investment and valuation. It investigates the rationale for immediately and rigorously integrating sustainability issues into property valuation theory and practice and proposes theoretical and practical options for valuers on how to address sustainability issues within valuation reports. It is argued that the perception of property as a commodity is changing to emphasize sustainable design features and p...

35 Typologie des eaux de surface du bassin du Sebou par multi ...

African Journals Online (AJOL)

PR BOKO

2Service de protection de la qualité de l'eau, Agence du Bassin Hydraulique du ... pour montrer l'évolution de la qualité biologique des eaux de surface du ..... Biological Indicators of Freshwater Pollution and Environmental Management,.

Caractérisation des sables et morphologie du fond du lac du ...

African Journals Online (AJOL)

Une analyse sédimentologique et minéralogique réalisée sur un cycle hydrologique entre octobre 2004 et août 2005 a permis d\\'évaluer les charges solides en suspension et de caractériser les sédiments du lac du barrage de Taabo. La concentration moyenne en matières en suspension (12 mg.L-1) et la turbidité ...

Caractérisation des sables et morphologie du fond du lac du ...

African Journals Online (AJOL)

Administrateur

Une analyse sédimentologique et minéralogique réalisée sur un cycle hydrologique entre octobre 2004 et août 2005 a permis d'évaluer les charges solides en suspension et de caractériser les sédiments du lac du barrage de Taabo. La concentration moyenne en matières en suspension (12 mg.L-1) et la turbidité ...

Haute prévalence du Burnout dans les unités Tunisiennes prenant en charge des patients en fin de vie

Science.gov (United States)

Amamou, Badii; Bannour, Ahmed Souhaiel; Ben Hadj Yahia, Meriem; Ben Nasr, Selma; Ben Hadj Ali, Bechir

2014-01-01

Introduction Chez le personnel soignant, le burnout touche un infirmier sur trois. Ce taux est plus élevé dans les unités prenant en charge des patients en fin de vie. L'objectif de notre travail était d'évaluer la fréquence du burnout chez les infirmiers qui travaillent en soins de fin de vie. Méthodes Il s'agit d'une étude descriptive transversale réalisée entre le 1er Avril et le 31 Mai 2010. 60 infirmiers de six services de Sousse et de Monastir (Tunisie) ont été recrutés. L'évaluation du burnout a été réalisée par deux échelles: MBI (Maslach Burnout Inventory) et BMS (Burnout Measure Short version). Résultats La prévalence du burnout était de 70%; il était élevé chez 81.7%. 80% avaient un niveau élevé d'épuisement émotionnel, 70% avaient un niveau élevé de dépersonnalisation et 17% avaient un niveau bas de sentiment d'accomplissement personnel. Le burnout était plus élevé chez les hommes (70,8% vs 69,4%; p=0,013); ceux qui voulaient améliorer les conditions du travail (70.2% vs. 66.7%; p= 0.017); du salaire (70.2% vs. 66.7%; p= 0.017) et chez les infirmiers suivi en psychiatrie (71.4% vs. 69.8%; p= 0.008). Conclusion Dans notre étude le niveau de burnout était élevé chez les infirmiers prenant en charge des patients en fin de vie. Il était associé au sexe masculin et à l'insatisfaction des conditions de travail et du salaire. D'autres études longitudinales sont nécessaires pour suivre l'évolution de ce syndrome et mettre des stratégies de prévention adéquates. PMID:25584122

Engagez-vous, devenez délégué(e) du personnel du CERN

CERN Multimedia

Staff Association

2017-01-01

Dans notre ECHO N° 275, nous avons annoncé les élections à venir au Conseil du personnel du CERN. Dans le présent ECHO, nous vous informons du lancement du processus des élections qui débute par le dépôt des candidatures. Tous les titulaires, boursiers et associés, qui sont aussi membres de l’Association du personnel, peuvent s’engager et déposer leur candidature entre le 11 septembre à 08 h 00 et le 13 octobre 2017 à 17 h 00. N’hésitez plus, remplissez le formulaire de candidature, présentez-vous aux élections au Conseil du personnel afin de pouvoir représenter et défendre vos collègues du personnel du CERN. ÊTRE DÉLÉGUÉ(E), C’EST QUOI ? Poser la question à plusieurs d...

What's it worth? A general manager's guide to valuation.

Science.gov (United States)

Luehrman, T A

1997-01-01

Behind every major resource-allocation decision a company makes lies some calculation of what that move is worth. So it is not surprising that valuation is the financial analytical skill general managers want to learn more than any other. Managers whose formal training is more than a few years old, however, are likely to have learned approaches that are becoming obsolete. What do generalists need in an updated valuation tool kit? In the 1970s, discounted-cash-flow analysis (DCF) emerged as best practice for valuing corporate assets. And one version of DCF-using the weighted-average cost of capital (WACC)-became the standard. Over the years, WACC has been used by most companies as a one-size-fits-all valuation tool. Today the WACC standard is insufficient. Improvements in computers and new theoretical insights have given rise to tools that outperform WACC in the three basic types of valuation problems managers face. Timothy Luehrman presents an overview of the three tools, explaining how they work and when to use them. For valuing operations, the DCF methodology of adjusted present value allows managers to break a problem into pieces that make managerial sense. For valuing opportunities, option pricing captures the contingent nature of investments in areas such as R&D and marketing. And for valuing ownership claims, the tool of equity cash flows helps managers value their company's stake in a joint venture, a strategic alliance, or an investment that uses project financing.

Reliability of Level Three Valuations and Credit Crisis

Directory of Open Access Journals (Sweden)

Arber Hoti

2012-02-01

Full Text Available This research paper evaluates the impact of levelthree valuations in accordance with FAS157 and its impact on investors, auditors’ work, and valuation. The objective of this research is todemonstrate that the fair value measurements shouldnot be suspended. The standards provide formeasurement of fair value in all market conditions.Therefore, level 3 measurements or mark-to-model is an answer for many issuers that are not sure how to measure their assets and liabilities at thefair value. The paper concludes that fair value measurement has not caused the current crisis and hasno pro-cyclical effect and suggests several recommendations for policy makers and regulators.

13 CFR 108.503 - NMVC Company's adoption of an approved valuation policy.

Science.gov (United States)

2010-01-01

... following the close of the quarter. (e) Review of valuations by independent public accountant. (1) For valuations performed as of the end of your fiscal year, your independent public accountant must review your... independent public accountant's report on your audited annual financial statements (SBA Form 468) must include...

Ecologie du phytoplancton du lac Kivu

Directory of Open Access Journals (Sweden)

Sarmento, H.

2008-01-01

Full Text Available Speciation within the African Coffee Pathogen. Cet article analyse s'il est avantageux d'utiliser le compost au lieu de l'engrais minéral pour produire la laitue dans la zone urbaine et péri-urbaine de Yaoundé. Les résultats de terrain montrent l'obtention de rendements et profits plus élevés lorsqu'on utilise le compost. Les résultats de la fonction de production Cobb-Douglas prouvent que l'utilisation du compost est statistiquement significative pour expliquer la variation de rendement de la laitue et que le compost est l'intrant le plus productif. D'autres résultats montrent que le compost fournit la matière organique utile au sol et que les besoins d'irrigation en eau de la culture sont réduits grâce à l'utilisation du compost. Par conséquent, malgré le fait que l'application du compost demande une main-d'oeuvre beaucoup plus élevée, son utilisation est généralement bénéfique pour les agriculteurs vivant aux alentours de Yaoundé. Les programmes de vulgarisation de cet intrant pour encourager son adoption devraient donc figurer parmi les points prioritaires dans la politique agricole du gouvernement camerounais.

IMPLEMENTATION OF CORPORATE VALUATION TECHNIQUES IN PRACTICE

Directory of Open Access Journals (Sweden)

Kiss Anita

2015-07-01

Full Text Available This paper focuses on the main tools and techniques of firm valuation. One of the objectives in this paper is to present the reasons for such differences in value across different models, and to help in choosing the right model for a specific task. In today's management literature there are a lot of evaluation models, which based on the different approaches. The most important dimensions in the evaluation are the past performance analysis, the current value of the firm based on the forecast period and the appraisal of future opportunities. Nowadays it is quite problematic that these concepts regarding the valuation methods used in practice are not homogeneous. In view of the major principles is equal, but the details are different. In this paper my goal is to categorize the methods in the right section and to demonstrate the characteristics, advantages and disadvantages as well. This study proceeds as follow. The first section classifies and categorizes the different valuation approaches, which are the ratios based on accounting data, the asset-based approach, the income-based approach within the discounted cash flow models and the value added methods, the relative valuation, at last the real options. The second part presents the main features and implementation of the methods. Finally, the third section concludes what might be learned from this study. Based on the related literature reviewed and my previous researches I conclude that, in the evaluation, the problem is not that there are not enough models to complete the task but on the contrary, the selection of the appropriate model is the first challenge in the work. The different approaches lead to significantly different values. The other main finding of this work that, professionals involved in the assessment task explained the reason for the differences, and selection the correct model which is the best fit for the job. Considering the models described below a best model cannot be

Normalized value coding explains dynamic adaptation in the human valuation process.

Science.gov (United States)

Khaw, Mel W; Glimcher, Paul W; Louie, Kenway

2017-11-28

The notion of subjective value is central to choice theories in ecology, economics, and psychology, serving as an integrated decision variable by which options are compared. Subjective value is often assumed to be an absolute quantity, determined in a static manner by the properties of an individual option. Recent neurobiological studies, however, have shown that neural value coding dynamically adapts to the statistics of the recent reward environment, introducing an intrinsic temporal context dependence into the neural representation of value. Whether valuation exhibits this kind of dynamic adaptation at the behavioral level is unknown. Here, we show that the valuation process in human subjects adapts to the history of previous values, with current valuations varying inversely with the average value of recently observed items. The dynamics of this adaptive valuation are captured by divisive normalization, linking these temporal context effects to spatial context effects in decision making as well as spatial and temporal context effects in perception. These findings suggest that adaptation is a universal feature of neural information processing and offer a unifying explanation for contextual phenomena in fields ranging from visual psychophysics to economic choice.

Tentative d'évaluation du systéme d'information marketing au niveau des banques publiques Algériennes

OpenAIRE

Hassaine-kazi-tani, Amel

2014-01-01

Le premier chapitre présente les fondements théoriques relatifs au marketing, marketing des services et notamment le marketing bancaire.dans le deuxiéme chapitre seront développées les notions de base du concept d'information et celui de systéme d'information et puis le systéme d'information marketing.le troisiéme chapitre pratique présente une étude de cas auprés des banques publiques Algériennes.

30 CFR 281.29 - Royalty valuation.

Science.gov (United States)

2010-07-01

... 30 Mineral Resources 2 2010-07-01 2010-07-01 false Royalty valuation. 281.29 Section 281.29 Mineral Resources MINERALS MANAGEMENT SERVICE, DEPARTMENT OF THE INTERIOR OFFSHORE LEASING OF MINERALS OTHER THAN OIL, GAS, AND SULPHUR IN THE OUTER CONTINENTAL SHELF Financial Considerations § 281.29...

SURVIE EMBRYONNAIRE DU SAUMON ATLANTIQUE (SALMO SALAR L. DANS UN COURS D’EAU DU SUD DE SON AIRE DE RÉPARTITION, LA NIVELLE

Directory of Open Access Journals (Sweden)

DUMAS J.

2007-01-01

Full Text Available L’évaluation de la survie du saumon Atlantique entre la ponte et l’émergence des alevins hors des graviers est réalisée dans le bassin de la Nivelle dans les domaines accessible (trois tronçons et non accessible (trois tronçons aux géniteurs. Pour ce faire, des capsules d’incubation de 12 cm3, contenant des œufs fraîchement fécondés, sont insérées dans des frayères artificielles et naturelles. Le débit et la température de l’eau de surface, l’oxygène dissous des eaux de surface et interstitielle et les caractéristiques granulométriques du substrat des frayères sont contrôlés pendant toute la durée de l’expérience. La survie, de 28,6 % en moyenne dans l’ensemble des sites, est plus élevée dans les tronçons de l’amont (52,7 % dans la Très Haute Nivelle et son affluent, le Lapitxuri que dans les autres sites, dont ceux actuellement colonisés par l’espèce (21,5 %. Il n’est pas observé de différence de survie entre les frayères artificielles et naturelles. Les mortalités interviennent essentiellement lors des épisodes de crues avant l’éclosion. Une corrélation positive forte existe entre la saturation en oxygène de l’eau interstitielle et la survie. Pour une saturation minimum en oxygène au-dessous de 62 %, la survie reste inférieure à 27 %. En revanche, la composition granulométrique du substrat ne semble pas agir directement sur la survie. Ce facteur n’étant pas corrélé avec l’oxygène dissous, ceci suggère que dans ce cours d’eau, le flux circulant dans les frayères ne provient pas uniquement de l’eau de surface, mais aussi de la nappe alluviale pauvre en oxygène dissous.

26 CFR 1.7520-1 - Valuation of annuities, unitrust interests, interests for life or terms of years, and remainder...

Science.gov (United States)

2010-04-01

... § 1.664-4 with respect to the valuation of the remainder interest in property transferred to a... 26 Internal Revenue 13 2010-04-01 2010-04-01 false Valuation of annuities, unitrust interests... TAX (CONTINUED) INCOME TAXES General Actuarial Valuations § 1.7520-1 Valuation of annuities, unitrust...

COMPANY VALUATION METHODS BASED ON PATRIMONY

Directory of Open Access Journals (Sweden)

SUCIU GHEORGHE

2013-02-01

Full Text Available The methods used for the company valuation can be divided into 3 main groups: methods based on patrimony,methods based on financial performance, methods based both on patrimony and on performance. The companyvaluation methods based on patrimony are implemented taking into account the balance sheet or the financialstatement. The financial statement refers to that type of balance in which the assets are arranged according to liquidity,and the liabilities according to their financial maturity date. The patrimonial methods are based on the principle thatthe value of the company equals that of the patrimony it owns. From a legal point of view, the patrimony refers to allthe rights and obligations of a company. The valuation of companies based on their financial performance can be donein 3 ways: the return value, the yield value, the present value of the cash flows. The mixed methods depend both onpatrimony and on financial performance or can make use of other methods.

Consensus formalisé: recommandations de pratiques cliniques pour la prise en charge de la lombalgie aiguë du patient africain

Science.gov (United States)

Elleuch, Mohamed; El Maghraoui, Abdellah; Griene, Brahim; Nejmi, Mati; Ndongo, Souhaibou; Serrie, Alain

2015-01-01

La lombalgie aiguë est la pathologie rhumatismale la plus fréquente en Afrique. L’épidémiologie et la présentation clinique ne diffèrent pas de celles observées sur les autres continents. En revanche, les aspects psycho-sociaux, la disponibilité des traitements, l'accès aux soins et le poids culturel des médecines traditionnelles sont autant de spécificités qui ont conduit à la réalisation du 1er consensus d'experts en rhumatologie pour la prise en charge du patient africain. Destiné aux praticiens, ce travail collaboratif multinational a pour objectif de fournir 11 recommandations de pratiques cliniques simples, fondées sur les preuves, et adaptées aux conditions de l'exercice médical en Afrique. Leur ambition est d'améliorer la prise en charge de la lombalgie aigue par une évaluation initiale clinique pertinente, une diminution des examens radiologiques inutiles, une prescription médicamenteuse adéquate et l'abandon de procédures invasives inappropriées. PMID:26955427

Fiche technique du spermogramme et du spermocytogramme ...

African Journals Online (AJOL)

En Afrique la stérilité du couple constitue un drame social. Selon l'OMS, environ 8 à 12 % des couples africains sont touchés par une infertilité. La responsabilité masculine dans la stérilité est comprise entre 30 à 40%. Les causes de l'infertilité masculine peuvent être l'impuissance et/ ou l'altération du sperme. L'étude de ...

Supporting Fiscal Aspect of Land Administration through an LADM-based Valuation Information Model

NARCIS (Netherlands)

Kara, A.; Çağdaş, V.; Lemmen, C.H.J.; Işıkdağ, Ü.; van Oosterom, P.J.M.; Stubkjær, E.

2018-01-01

This paper presents an information system artifact for the fiscal aspect of land administration, a valuation information model for the specification of inventories or databases used in valuation for recurrently levied immovable property taxes. The information model is designed as an extension module

Financial accounting as a method of household finance capacity valuation

Directory of Open Access Journals (Sweden)

A. B. Untanov

2017-01-01

Full Text Available The article presents existing household finance capacity investigations. Comparison conducting allowed to determinate collisions and flaws of previous works. That substantiates to find a new approach in household finance capacity valuation necessity. The article contains theoretical research of household finance fundamental categories. In particular, it notes significant difference between domestic and foreign experience of household finance determination. Although emphasizing key similarities allows identifying household finance capacity composition. Moreover, the article provides a public and corporate finance sectors experience, which contains a huge knowledge of finance capacity investigations. Used research allows classify finance capacity not only as a resource valuation, but also as an economic entity’s ability to generate financial result. In terms of resource valuation, the paper suggests assessing both financial resources in classical meaning and any other property, which participating household economic activity and could be evaluated. The author’s position in terms of household finance capacity valuation is suggested. A broad definition of finance capacity causes applying conceptually different approach in this paper. Thus, comparative analysis method is suggested to substantiate household and corporate firm similarities. Used method allows forming household financial accounting, which leads to clear determination of household finance capacity composition and structure. Specificity forming household financial accounting is considered. An author’s position in regards existing contradictions with early research is suggested.

Culture, Nature, and the Valuation of Ecosystem Services in Northern Namibia

Directory of Open Access Journals (Sweden)

Michael Schnegg

2014-12-01

Full Text Available Defining culture as shared knowledge, values, and practices, we introduce an anthropological concept of culture to the ecosystem-service debate. In doing so, we shift the focus from an analysis of culture as a residual category including recreational and aesthetic experiences to an analysis of processes that underlie the valuation of nature in general. The empirical analysis draws on ethnographic fieldwork conducted along the Okavango River in northern Namibia to demonstrate which landscape units local populations value for which service(s. Results show that subjects perceive many places as providing multiple services and that most of their valuations of ecosystem services are culturally shared. We attribute this finding to common experiences and modes of activities within the cultural groups, and to the public nature of the valuation process.

Methods of Bank Valuation in the Age of Globalization

Directory of Open Access Journals (Sweden)

Alexander Karminsky

2015-01-01

Full Text Available This paper reviews the theory ofvalue-based management at the commercial bank and the main valuation methods in the age of globalization. The paper identifies five main factors that significantly influence valuation models selection and building: funding, liquidity, risks, exogenous factors and the capital cushion. It is shown that valuation models can be classified depending on underlying cash flows. Particular attention is paid to models based on potentially available cash flows (Discounted cash flow-oriented approaches, DCF and models based on residual income flows (Residual income-oriented approaches. In addition, we consider an alternative approach based on comparison with same sector banks (based on multiples. For bank valuation equity discounted сash flow method is recommended (Equity DCF. Equity DCF values equity value of a bank directly by discounting cash flows to equity at the cost of equity (Capital Asset Pricing Model, CAPM, rather than at the weighted average cost of capital (WACC. For the purposes of operational management residual income-oriented approaches are recommended for use, because they are better aligned with the process of internal planning and forecasting in banks. For strategic management residual income-oriented methods most useful when expected cash flows are negative throughout the forecast period. Discounted сash flow-oriented approaches are preferable when expected cash flows have positive values and needs for models using is motivated by supporting the investment decisions. Proposed classification can be developed in interests of bank management tasks in the midterm in the age of globalization.

Separate valuation subsystems for delay and effort decision costs.

Science.gov (United States)

Prévost, Charlotte; Pessiglione, Mathias; Météreau, Elise; Cléry-Melin, Marie-Laure; Dreher, Jean-Claude

2010-10-20

Decision making consists of choosing among available options on the basis of a valuation of their potential costs and benefits. Most theoretical models of decision making in behavioral economics, psychology, and computer science propose that the desirability of outcomes expected from alternative options can be quantified by utility functions. These utility functions allow a decision maker to assign subjective values to each option under consideration by weighting the likely benefits and costs resulting from an action and to select the one with the highest subjective value. Here, we used model-based neuroimaging to test whether the human brain uses separate valuation systems for rewards (erotic stimuli) associated with different types of costs, namely, delay and effort. We show that humans devalue rewards associated with physical effort in a strikingly similar fashion to those they devalue that are associated with delays, and that a single computational model derived from economics theory can account for the behavior observed in both delay discounting and effort discounting. However, our neuroimaging data reveal that the human brain uses distinct valuation subsystems for different types of costs, reflecting in opposite fashion delayed reward and future energetic expenses. The ventral striatum and the ventromedial prefrontal cortex represent the increasing subjective value of delayed rewards, whereas a distinct network, composed of the anterior cingulate cortex and the anterior insula, represent the decreasing value of the effortful option, coding the expected expense of energy. Together, these data demonstrate that the valuation processes underlying different types of costs can be fractionated at the cerebral level.

Moving beyond the exchange value in the nonmarket valuation of ecosystem services

Science.gov (United States)

Karen E. Allen; Rebecca Moore

2016-01-01

There has been much discussion across the ecosystem services literature as to the role of economic valuation in identifying ecosystem service values and shaping policy. This article demonstrates a non-typical use of a nonmarket valuation technique known as the stated choice experiment (CE) for understanding a range of public preferences for stream-related...

Incorporating economic valuation into fire prevention planning and management in Southern European countries

Directory of Open Access Journals (Sweden)

Elsa Varela

2015-08-01

Full Text Available Aim of study: This article describes and analyzes the links between the fire-based scientific knowledge, the social perception of fire prevention and forest fires and the economic valuation requirements to assess social preferences for fire prevention measures. Area of study: Southern European countries. Material and Methods: For that purpose, we develop a critical revision of the existing literature on economic valuation of social preferences for fire risk reduction and fire prevention in terms of its links with fire science and social perceptions and the applicability of these results in fire management policies. Research highlights: The assessment of social preferences for fire related issues is challenging due to the difficulty of setting sound valuation scenarios that can simultaneously be relevant for the respondents and derive conclusions useful for fire management. Most of the revised studies set up valuation scenarios focused on the final management outcome e.g. number of burnt hectares, what is easier for the respondents to evaluate but weakens the scientific relationship with fire management, making difficult reaching conclusions for sound management advice. A more recent set of valuation studies has been developed where risk perception of homeowners is further assessed as a key variable determining their preferences in valuation scenarios. These studies are relevant for mangers setting fire prevention programs in wildland urban interface areas as understanding the factors that may promote or hinder the enrolment of these homeowners in fire prevention activities may have direct implication in addressing communication programs to promote fire prevention management.

Transactive Systems Simulation and Valuation Platform Trial Analysis

Energy Technology Data Exchange (ETDEWEB)

Widergren, Steven E. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Hammerstrom, Donald J. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Huang, Qiuhua [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Kalsi, Karanjit [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Lian, Jianming [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Makhmalbaf, Atefe [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); McDermott, Thomas E. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Sivaraman, Deepak [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Tang, Yingying [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Veeramany, Arun [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Woodward, James C. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States)

2017-04-01

Transactive energy systems use principles of value to coordinate responsive supply and demand in energy systems. Work continues within the Transactive Systems Program, which is funded by the U.S. Department of Energy at Pacific Northwest National Laboratory, to understand the value of, understand the theory behind, and simulate the behaviors of transactive energy systems. This report summarizes recent advances made by this program. The main capability advances include a more comprehensive valuation model, including recommended documentation that should make valuation studies of all sorts more transparent, definition of economic metrics with which transactive mechanisms can be evaluated, and multiple improvements to the time-simulation environment that is being used to evaluate transactive scenarios.

Transactive Systems Simulation and Valuation Platform Trial Analysis

International Nuclear Information System (INIS)

Widergren, Steven E.; Hammerstrom, Donald J.; Huang, Qiuhua; Kalsi, Karanjit; Lian, Jianming; Makhmalbaf, Atefe; McDermott, Thomas E.; Sivaraman, Deepak; Tang, Yingying; Veeramany, Arun; Woodward, James C.

2017-01-01

Transactive energy systems use principles of value to coordinate responsive supply and demand in energy systems. Work continues within the Transactive Systems Program, which is funded by the U.S. Department of Energy at Pacific Northwest National Laboratory, to understand the value of, understand the theory behind, and simulate the behaviors of transactive energy systems. This report summarizes recent advances made by this program. The main capability advances include a more comprehensive valuation model, including recommended documentation that should make valuation studies of all sorts more transparent, definition of economic metrics with which transactive mechanisms can be evaluated, and multiple improvements to the time-simulation environment that is being used to evaluate transactive scenarios.

Valuation of Understanding

DEFF Research Database (Denmark)

Wiberg, Merete

An important aim for the teacher in Higher Education is that students, in order to learn, achieve understanding in terms of being able to handle knowledge in a certain way. In this paper focus will be on understanding as a phenomenon which is permeated with values of what good understanding might...... be. Understanding is to be discussed as a phenomenon which in its definition is relative to the paradigm of educational thinking in which it is embedded. Paradigms of valuation of understanding in higher education will be viewed from two perspectives: An anglosaxon curriculum studies tradition...

Topics in Finance Part IV--Valuation

Science.gov (United States)

Laux, Judy

2010-01-01

This article looks at security valuation from the perspective of the financial manager, accenting the relationships to stockholder wealth maximization (SWM), risk and return, and potential agency problems. It also covers some of the pertinent literature related to how investors and creditors price the stocks and bonds of corporations.

26 CFR 20.7520-1 - Valuation of annuities, unitrust interests, interests for life or terms of years, and remainder...

Science.gov (United States)

2010-04-01

... § 1.664-4 of this chapter with respect to the valuation of the remainder interest in property... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Valuation of annuities, unitrust interests... Valuations § 20.7520-1 Valuation of annuities, unitrust interests, interests for life or terms of years, and...

Research bias in judgement bias studies : a systematic review of valuation judgement literature

NARCIS (Netherlands)

Vincent Gruis; Pim Klamer; Cok Bakker

2017-01-01

Valuation judgement bias has been a research topic for several years due to its proclaimed effect on valuation accuracy. However, little is known on the emphasis of literature on judgement bias, with regard to, for instance, research methodologies, research context and robustness of research

Research bias in judgement bias studies : A systematic review of valuation judgement literature

NARCIS (Netherlands)

Klamer, Pim; Bakker, C.; Gruis, Vincent

2017-01-01

Valuation judgement bias has been a research topic for several years due to its proclaimed effect on valuation accuracy. However, little is known on the emphasis of literature on judgement bias, with regard to, for instance, research methodologies, research context and robustness of research

Mineral resources of Slovakia, questions of classification and valuation

Directory of Open Access Journals (Sweden)

Baláž Peter

1999-06-01

Full Text Available According to the Constitution of Slovak Republic, mineral resources of Slovakia are in the ownership of Slovak Republic. In 1997, 721 exclusive mineral deposits of mineral fuels, metals and industrial minerals were registered in Slovakia. The classification for economic and uneconomic reserves/resources requires an annual updating, concerning changes of market mineral prices and mine production costs. In terms of economic valuation of mineral resources, a new United Nations international classification for reserves/resources appears as a perspective alternative. Changes of geological and mining legislation are necessary for real valuation of Slovak mineral resources.

Taxation indices of forest stand as the basis for cadastral valuation of forestlands

International Nuclear Information System (INIS)

Kovyazin, V; Belyaev, V; Romanchikov, A; Pasko, O

2014-01-01

Cadastral valuation of forestlands is one of the problems of the modern economy. Valuation procedures depend either on the profitability of timbering or forest areas are not differentiated according to value. The authors propose the procedure based on taxation indices of strata. The most important factors influencing the valuation are determined. The dependence that allows establishing the relative cost of a certain forest area is defined. Knowing the cadastral value of a model area, it is possible to determine the values of all other sites. The evaluation results correlate with the Faustman procedure with slight difference in the absolute value

Taxation indices of forest stand as the basis for cadastral valuation of forestlands

Science.gov (United States)

Kovyazin, V.; Belyaev, V.; Pasko, O.; Romanchikov, A.

2014-08-01

Cadastral valuation of forestlands is one of the problems of the modern economy. Valuation procedures depend either on the profitability of timbering or forest areas are not differentiated according to value. The authors propose the procedure based on taxation indices of strata. The most important factors influencing the valuation are determined. The dependence that allows establishing the relative cost of a certain forest area is defined. Knowing the cadastral value of a model area, it is possible to determine the values of all other sites. The evaluation results correlate with the Faustman procedure with slight difference in the absolute value.

Bank Accounting and Market Valuation in Japan: An Overview of Accounting Issues of Financial Instruments

OpenAIRE

Marie Ogawa; Takashi Kubota

1995-01-01

This paper considers a framework for introducing market valuation to Japanese bank accounting, focusing on practical issues to be solved. Reflecting the growing concern over the present historical cost accounting, it is argued that market valuation should be introduced to bank accounting for disclosure purpose in Japan. Particularly, there are strong arguments for market valuation of certain types of financial instruments. Specific considerations include: the overview of present accounting in...

Diffusion du matériel végétal amélioré palmier à huile en milieu villageois : l’expérience du Bénin

Directory of Open Access Journals (Sweden)

Adje Isaac A.

2001-09-01

Full Text Available Le palmier à huile se cultive dans la région du Sud Bénin où il représente un produit populaire et de grande notoriété au sein des producteurs agricoles. Son importance socio-économique reste très marquée tant au niveau des populations qu’au niveau national. Ainsi, depuis l’époque coloniale jusqu’aux premières décennies de l’indépendance du pays, les plans de développement ont consacré d’importants financements pour sa promotion, notamment le sous-secteur industriel à travers les différentes sociétés d’État qui ont été successivement créées à cet effet [1]. Malgré ces importants efforts et l’engouement des populations, cette culture a connu un déclin parce qu’elle n’a pas pu s’adapter assez rapidement à l’évolution du climat, marquée par une chute de la pluviométrie, et à la fluctuation du marché mondial des oléagineux caractérisé par la concurrence des pays producteurs des zones écologiquement plus favorables [2]. Il s’en est suivi au Bénin une désorganisation de la filière dans toutes ses composantes (palmeraies villageoises et plantations industrielles qui a été préjudiciable à l’économie nationale. Suite à sa libéralisation, marquée par la mise en oeuvre des Programmes d’ajustement structurel (PAS, on assiste à un redressement général de l’économie nationale qui a touché aussi le secteur palmier à huile et a amené l’État à décider de la réhabilitation de cette filière. La dévaluation du franc CFA intervenue en 1994 a été un atout majeur pour justifier cette relance. Ainsi, dans le cadre de la table ronde sur le secteur rural de septembre 1995 et dans celui de la priorité accordée à la diversification agricole, l’orientation a été prise de relancer la production du palmier à huile par des actions au nombre desquelles on peut citer le « programme de développement des plantations villageoises et celui de la réhabilitation des plantations

The problem of accounting methods in connection to company valuation

Directory of Open Access Journals (Sweden)

Michaela Beranová

2013-01-01

Full Text Available Valuation of a company is not only a calculation but it represents complex set of processes which are mutually interconnected and which are more or less important in the process of company valuation in dependence of the value category inquired. One of these processes is the financial analysis which objective is not only to prove, subsequently the strategic analysis, going concern of a company, but its outcomes are the starting-point of financial plan preparation that is needed in order to apply income-based methods of company valuation. It is generally accepted that results of financial ratios differ in implications of applied accounting methods. The objective of this paper is to frame an influence of accounting methods on the income-based value of a company while the stress is put on the methods of inventory measurement in the context of both, in context of the Czech accounting law as well as of the International Financial Reporting Standards.

Equivalence of the different discounted cash flow valuation methods. Different alternatives for determining the discounted value of tax shields and their implications for the valuation

OpenAIRE

Fernández, Pablo

1999-01-01

This paper addresses the valuation of firms by cash flow discounting. The first part shows that the four most commonly used discounted cash flow valuation methods (free cash flow discounted at the WACC; cash flow available for equity holders discounted at the required return on the equity flows; capital cash flow discounted at the WACC before taxes; and Adjusted Present Value) always give the same value. This result is logical because all the methods analyse the same reality under the same hy...

Revisiting Ecosystem Services: Assessment and Valuation as Starting Points for Environmental Politics

Directory of Open Access Journals (Sweden)

Adam Jadhav

2017-09-01

Full Text Available The paradigm of ecosystem services (ES and the methods of monetary valuation have become boundary objects, spanning disciplines and earning particular purchase in policy circles. However, the notion of ES and ES valuation have also been subjected to multiple critiques, ranging from their varying precision to the potential for neoliberalization of nature. This paper does not attempt to refute such critiques but rather revisits the potentials of the ES paradigm and the specific method of benefit transfer valuation for their utility as a form of environmental politics and sustainability practice. We find they have particular relevance in contexts where “data” are not readily available or are not legible to policy makers as well as where the imperative of “development” remains ideological. We argue for ES assessment and, specifically, rapid ES valuation as a first-pass tactic to inform evaluation of potentially environmentally degrading projects or environmental management. We demonstrate this using a simple benefit transfer analysis to offer an initial evaluation of (wet landscape ES in a lightly touched estuary in Karnataka, India, where a state-backed proposal to develop an industrial shipping port is gathering steam. While we recognize and do not categorically reject critiques of the ES paradigm, we nonetheless argue for valuation as a starting point for politics that highlight and make visible ES benefits and users implicated by “development” and other kinds of environmental change.

Conservatism in Corporate Valuation

OpenAIRE

Bach, Christian

2011-01-01

Using a CCAPM based risk adjustment model, consistent with general asset pricing theory, I perform corporate valuations of a large sample of stocks listed on NYSE, AMEX and NASDAQ. The model is different from the standard CAPM model in the sense that it discounts forecasted residual income for risk in the numerator rather than trough the cost of equity, in the denominator. Further, the risk adjustment is based on assumptions about the time series properties of residual income return and consu...

Improved Approximation Algorithms for Item Pricing with Bounded Degree and Valuation

Science.gov (United States)

Hamane, Ryoso; Itoh, Toshiya

When a store sells items to customers, the store wishes to decide the prices of the items to maximize its profit. If the store sells the items with low (resp. high) prices, the customers buy more (resp. less) items, which provides less profit to the store. It would be hard for the store to decide the prices of items. Assume that a store has a set V of n items and there is a set C of m customers who wish to buy those items. The goal of the store is to decide the price of each item to maximize its profit. We refer to this maximization problem as an item pricing problem. We classify the item pricing problems according to how many items the store can sell or how the customers valuate the items. If the store can sell every item i with unlimited (resp. limited) amount, we refer to this as unlimited supply (resp. limited supply). We say that the item pricing problem is single-minded if each customer j∈C wishes to buy a set ej⊆V of items and assigns valuation w(ej)≥0. For the single-minded item pricing problems (in unlimited supply), Balcan and Blum regarded them as weighted k-hypergraphs and gave several approximation algorithms. In this paper, we focus on the (pseudo) degree of k-hypergraphs and the valuation ratio, i. e., the ratio between the smallest and the largest valuations. Then for the single-minded item pricing problems (in unlimited supply), we show improved approximation algorithms (for k-hypergraphs, general graphs, bipartite graphs, etc.) with respect to the maximum (pseudo) degree and the valuation ratio.

Wind power: valuation and finance

International Nuclear Information System (INIS)

Aastrand, C.; Mose, O.; Sorensen, B.

1996-01-01

The past 20 years of wind energy experience in Denmark has primarily been based upon three financing schemes, tailored to individually owned, guild owned and utility owned wind turbines. The merits of and problems with these schemes are discussed, as well as their relations to specific legislation regarding e.g. taxation. It is finally explored, whether new forms of organisation, valuation and financing may be needed. (author)

Valuating the Value and Risk of International Start-up Ventures

OpenAIRE

Ido Kallir; Tamir Agmon

2015-01-01

Fair value depends on an estimate of the both cash flow and risk, which is not an easy task when valuing startup firms. We present a measurement instrument for the future risk of small and risky firms that follows the major propositions in accounting and finance. It differs from other valuation instruments in looking simultaneously at the assets and liabilities. We test the VBB as a measure for value over time by using a database of VC backed innovative companies that oridary DCF valuation fa...

FAIR VALUE - THE UMBRELLA OF THE VALUATION BASES USED IN ACCOUNTING

OpenAIRE

Diana COZMA IGHIAN; Cristina Silvia NISTOR

2010-01-01

Recent deliberations by both the International Accounting Standards Board (IASB) and the Financial Accounting Standard Board (FASB) in the United States have focused on how fair values of assets and liabilities should be measured. According to the international framework, the financial statements use different valuation bases: the historical cost, the current cost, the realizable (settlement) value, the present value (the present value of cash flows). The choice of the valuation basis and the...

The Computational Complexity of Valuation and Motivational Forces in Decision-Making Processes.

Science.gov (United States)

Redish, A David; Schultheiss, Nathan W; Carter, Evan C

2016-01-01

The concept of value is fundamental to most theories of motivation and decision making. However, value has to be measured experimentally. Different methods of measuring value produce incompatible valuation hierarchies. Taking the agent's perspective (rather than the experimenter's), we interpret the different valuation measurement methods as accessing different decision-making systems and show how these different systems depend on different information processing algorithms. This identifies the translation from these multiple decision-making systems into a single action taken by a given agent as one of the most important open questions in decision making today. We conclude by looking at how these different valuation measures accessing different decision-making systems can be used to understand and treat decision dysfunction such as in addiction.

L’évaluation, un outil de l’ergonome pour transformer le contexte d’intervention Evaluation, a tool of ergonomists for changing the intervention context La evaluación, una herramienta del ergónomo para transformar el contexto de la intervención

Directory of Open Access Journals (Sweden)

Aurélie Landry

2010-05-01

Full Text Available Cet article expose la mise en œuvre d’une recherche-action visant à explorer si une démarche évaluative de type recherche-évaluative permet d’identifier les facteurs favorables à une intervention et d’instruire les hypothèses des intervenants sur les liens entre processus d’intervention et résultats obtenus. Les cas utilisés illustrent comment la recherche évaluative peut permettre à l’ergonome d’améliorer les conditions dans lesquelles il intervient en partageant des indicateurs d’évaluation sur le déroulement du projet. En communiquant avec les autres acteurs du projet sur les indicateurs de pilotage d’intervention, l’ergonome modifie le contexte dans lequel il intervient au cours du déroulement de l’action. En utilisant également des indicateurs de résultats, l’ergonome peut montrer les apports de l’action et chercher à mieux adapter ses méthodes compte tenu des leviers ou obstacles présents dans le contexte d’action.This article presents the application of action-research whose aim is to investigate whether an evaluative research type process can identify favorable factors for an intervention and allow evaluation of the stakeholders’ hypotheses on the links between the intervention process and the results obtained. The cases used illustrate how evaluative research can help the ergonomist improve the conditions in which he acts by sharing evaluation indicators on the project process. By communicating intervention process indicators with the other stakeholders, the ergonomist changes the context in which he acts during the intervention. By also using result indicators, the ergonomist can show the contribution of the intervention and attempt to better adapt his methods, considering the advantages or obstacles present in the context of the intervention.Este artículo expone la puesta en marcha de una investigación-acción que pretende explorar si un enfoque evaluativo del tipo investigaci

Résultats de recherche | Page 83 | CRDI - Centre de recherches ...

International Development Research Centre (IDRC) Digital Library (Canada)

Guide de l'intégration du genre dans le programme Acacia du CRDI (pour le développement, le suivi et l'évaluation de proposition de projet). Published date. 1 janvier 2009. Rapports. MALI BURKINA FASO SENEGAL LEADERSHIP ...

La population du Moyen-Orient et de l'Afrique du Nord contribue ...

International Development Research Centre (IDRC) Digital Library (Canada)

29 avr. 2016 ... Le degré d'apport au contenu varie grandement d'une population à l'autre. Si les habitants du Moyen-Orient et de l'Afrique du Nord (région MENA) utilisent Wikipédia, ils y contribuent cependant moins que les populations d'autres régions du monde. Le contenu au sujet de la région MENA est, le plus ...

Valuation of Urban Commercial Properties in Nigeria for Secured Lending: Issues and Developments

Directory of Open Access Journals (Sweden)

Namnso Bassey Udoekanem

2018-01-01

Full Text Available Valuation for secured lending is required when an interest in real property is used as security for a loan. The outcome of such valuation will help the lending institution to achieve commercial prudence in lending as well as avoid taking undue risk. This paper examines the issues and developments in the valuation of urban commercial properties in Nigeria for secured lending purposes. It argues that due to the volatile nature of the Nigerian economy, coupled with the linkage between the economy and commercial property markets, the maximum amount of loan to be granted by lenders in the country using interest in commercial property as collateral should be based on the Mortgage Lending Value (MLV and not the Market Value (MV of the property, although the market value should also be reported in the valuation. A case study is used to demonstrate the valuation. It further contends that since the inputs for determining the MLV of a commercial property must be derived from long-term trends in the property and financial markets, it is more stable than MV when used to determine the maximum amount of mortgage loan to be granted by a lender. It concludes that the stability of the MLV makes it more reliable than the MV in achieving commercial prudence in mortgage lending as it fits into the long-term nature of mortgage loan repayment.

Unilever Group : equity valuation

OpenAIRE

Pires, Susana Sofia Castelo

2014-01-01

The following dissertation has the purpose to value the Unilever Group, but more specifically Unilever N.V. being publicly traded in the Amsterdam Exchange Index. Unilever is seen as a global player and one of most successful and competitive fast-moving consumer goods companies. In order to valuate Unilever’s equity, a Discounted Cash Flow (DCF) approach is first carried out, since it is believed to be the most reliable methodology. The value estimated was €36.39, advising one to buy its s...

The regulation of asset valuation in Germany

NARCIS (Netherlands)

Detzen, D.; Hoffman, S.

2013-01-01

This article examines the regulatory history of asset valuation in Germany from the fifteenth century to the implementation of the European Economic Community's Fourth Directive in 1986. Aiming to explain regulatory changes by reference to preceding socio-economic and political developments, we find

Market-based approaches to tree valuation

Science.gov (United States)

Geoffrey H. Donovan; David T. Butry

2008-01-01

A recent four-part series in Arborist News outlined different appraisal processes used to value urban trees. The final article in the series described the three generally accepted approaches to tree valuation: the sales comparison approach, the cost approach, and the income capitalization approach. The author, D. Logan Nelson, noted that the sales comparison approach...

Cadastral valuation of land contaminated with radionuclides

Science.gov (United States)

Ratnikov, A. N.; Sapozhnikov, P. M.; Sanzharova, N. I.; Sviridenko, D. G.; Zhigareva, T. L.; Popova, G. I.; Panov, A. V.; Kozlova, I. Yu.

2016-01-01

The methodology and procedure for cadastral valuation of land in the areas contaminated with radionuclides are presented. The efficiency of rehabilitation measures applied to decrease crop contamination to the levels satisfying sanitary-hygienic norms is discussed. The differentiation of cadastral value of radioactively contaminated agricultural lands for the particular farms and land plots is suggested. An example of cadastral valuation of agricultural land contaminated during the Chernobyl Nuclear Power Plant accident is given. It is shown that the use of sandy and loamy sandy soddy-podzolic soils with the 137Cs contamination of 37-185 and >185 kBq/m2 for crop growing is unfeasible. The growing of grain crops and potatoes on clay loamy soddy-podzolic soils with the 137Cs contamination of 555-740 kBq/m2 is unprofitable. The maximum cadastral value of radioactively contaminated lands is typical of leached chernozems.

Néotoponymie contestée à Potchefstroom / Tlokwe (Province du Nord-Ouest, Afrique du Sud

Directory of Open Access Journals (Sweden)

Myriam Houssay-Holzschuch

2010-09-01

Full Text Available Illustration 1 - Extrait du site de la municipalité de Potchefstroom / TlokweSource : http://www.potch.co.za/newsarchive/streetnames.htmlIllustration 2- Potchefstroom (Afrique du SudAuteur : Béatrice Obry-Guyot, début décembre 2007.Illustration 3 - Extrait du plan Google Map de PotchefstroomSource : Google Map.La question toponymique en Afrique du Sud sur la longue durée porte sur deux thèmes essentiels porteurs de controverses : le plurilinguisme et le marquage symbolique et mémoriel du te...

Ksenia Pimenova, Les sources de savoirs. Le renouveau du bouddhisme et du chamanisme chez les Touvas de la Sibérie du Sud

OpenAIRE

Pimenova, Ksenia

2013-01-01

Cette thèse présente une étude comparative du « renouveau » post-soviétique du chamanisme et du bouddhisme tibétain (école Guélougpa) chez les Touvas, un des peuples autochtones de la Sibérie du Sud (Russie). Ce phénomène a lieu après des décennies de politique antireligieuse (dès la fin des années 1920 jusqu’aux années 1980) ayant abouti à la destruction de la communauté bouddhique et à la marginalisation du chamanisme. Nous analysons le chamanisme et le bouddhisme post-soviétiques comme deu...

Telecommunications and Universal Service: International ...

International Development Research Centre (IDRC) Digital Library (Canada)

Out of print. 104 pages. e-ISBN : 1552503216. Téléchargez le PDF · Téléchargez le cyberlivre. The services delivered over telecommunications networks can provide enormous ... Amnisties pour la paix dans le delta du Niger - évaluation critique de la contribution à une paix durable du pardon de crimes du passé.

Conference Innovations in Derivatives Market : Fixed Income Modeling, Valuation Adjustments, Risk Management, and Regulation

CERN Document Server

Grbac, Zorana; Scherer, Matthias; Zagst, Rudi

2016-01-01

This book presents 20 peer-reviewed chapters on current aspects of derivatives markets and derivative pricing. The contributions, written by leading researchers in the field as well as experienced authors from the financial industry, present the state of the art in: • Modeling counterparty credit risk: credit valuation adjustment, debit valuation adjustment, funding valuation adjustment, and wrong way risk. • Pricing and hedging in fixed-income markets and multi-curve interest-rate modeling. • Recent developments concerning contingent convertible bonds, the measuring of basis spreads, and the modeling of implied correlations. The recent financial crisis has cast tremendous doubts on the classical view on derivative pricing. Now, counterparty credit risk and liquidity issues are integral aspects of a prudent valuation procedure and the reference interest rates are represented by a multitude of curves according to their different periods and maturities. A panel discussion included in the book (featuring D...

Renforcement des capacités d'évaluation et de communication en ...

International Development Research Centre (IDRC) Digital Library (Canada)

Il permettra de constituer un bassin régional de mentors dûment formés qui seront en mesure de faire connaître les méthodes d'évaluation et de communication de pointe. Les équipes de projets phares perfectionneront leurs compétences en évaluation et en communication et auront l'occasion de contribuer à impulser des ...

Evaluation rapide du coût d'un investissement: méthode des modules fonctionnels Quick Evaluation of the Cost of an Investment: the Functional Module Method

Directory of Open Access Journals (Sweden)

Bergman J.

2006-11-01

Full Text Available L'application des méthodes statistiques dites d'analyse de données , à un large échantillonnage d'informations, obtenu soit directement à partir de sources de renseignements privées, soit en ayant recours à un logiciel de dimensionnement et d'estimation détaillés, a permis la mise au point d'une nouvelle méthode d'évaluation rapide du coût d'un investissement, développée sous le nom de Méthode des Modules Fonctionnels . Dans le passé, plusieurs procédures de conception dite modulaire ont déjà été élaborées. Dans le cas présent cependant, il s'agit de la première tentative connue dans le domaine d'utilisation de techniques telles que l'analyse en composantes principales, l'analyse factorielle sur tableau de distances et la régression linéaire multiple, pour développer une structure modulaire d'estimation du coût d'un investissement. Les changements apportés par rapport. à la procédure modulaire, pratiquée notamment jusqu'à présent par le Département Evaluation de l'Institut Français du Pétrole (IFP (Manuel d'évaluation économique des procédés, Editions Technip, Paris, 1976, concernent la définition et l'organisation des modules susceptibles d'être identifiés dans une installation quelconque de chimie. L'approche fonctionnelle consiste dans ce cas à partir du concept d'opération unitaire de génie chimique et non plus d'équipement par exemple, ce qui permet alors la création de modules dit fonctionnels. L'application pratique de la méthode repose sur la seule connaissance des éléments suivants : un schéma de procédé indiquant les équipements principaux; la nature des produits traités; un bilan matière au moins global, et si possible détaillé pour les lignes essentielles; les conditions opératoires moyennes. Les résultats peuvent être obtenus soit au moyen d'équations susceptibles d'être programmées sur calculatrice de poche, soit, ainsi que la présentation en est ici faite, à l

Dynamic learning and context-dependence in sequential, attribute-based, stated-preference valuation questions

Science.gov (United States)

Thomas P. Holmes; Kevin J. Boyle

2005-01-01

A hybrid stated-preference model is presented that combines the referendum contingent valuation response format with an experimentally designed set of attributes. A sequence of valuation questions is asked to a random sample in a mailout mail-back format. Econometric analysis shows greater discrimination between alternatives in the final choice in the sequence, and the...

Market valuation in the framework of modern life insurance mathematics

Directory of Open Access Journals (Sweden)

Maja Petrač

2013-12-01

Full Text Available In the traditional actuarial life insurance mathematics, liabilities to beneficiaries (technical reserves are calculated based on conservative assumptions of mortality and interest rates. However, this approach was found to be incomplete since it does not contain the market component which has become essential due to the development of the financial market. Since about 80% of total liabilities of life insurance companies are made up of technical reserves, this issue has a major impact on the overall performance of insuran - ce companies. The introduction of financial components into the actuarial valuation resulted in actuarial mathematics using more and more the elements of financial mathematics thus creating new, modern life insurance mathematics. Using a simple example, this paper compares the traditional and market approaches to valuation. For this purpose, one of the principles of modern life insurance mathematics, the principle of equivalence, was observed. The above market approach to valuation, together with operational risk management, forms the basis of Solvency II Directive, the new legislative and regulatory framework for insurance and reinsurance companies in the European Union.

Validation de la version francophone d’une échelle composite multidimensionnelle pour l’évaluation de la douleur postopératoire chez les chats

Science.gov (United States)

Steagall, Paulo V.M.; Monteiro, Beatriz P.; Lavoie, Anne-Marie; Frank, Diane; Troncy, Eric; Luna, Stelio P.L.; Brondani, Juliana T.

2017-01-01

Résumé L’objectif de cette étude était de valider la version francophone de l’échelle composite multidimensionnelle de douleur UNESP-Botucatu (MCPS-Fr) chez les chats. Deux vétérinaires et une étudiante de médecine vétérinaire francophones ont identifié trois catégories de comportements distincts sur des vidéos : «les changements psychomoteurs», «la protection de la région douloureuse» et «les variables physiologiques». La cohérence interne était excellente (score total du coefficient alpha de Cronbach était de 0,94; 0,90; et 0,61, respectivement). La bonne concordance entre les évaluations à l’aveugle des observateurs et l’évaluateur de référence confirme la validité de cet instrument. La fiabilité inter- et intra-évaluateur était bonne à très bonne. Le point limite optimal pour l’analgésie de secours, identifié avec une courbe ROC, était au-delà de 7 (échelle allant de 0 à 30 points), avec une sensibilité de 97,8 % et une spécificité de 99,1 %. La MCPS-Fr est un outil valide et sensible pour l’évaluation de la douleur aiguë chez les chattes ayant subi une ovariohystérectomie. PMID:28042156

Economic valuation of biodiversity: A comparative study

NARCIS (Netherlands)

Nijkamp, P.; Vindigni, G.; Nunes, P.A.L.D.

2008-01-01

In recent years, an intensive debate on the economic valuation of biodiversity has entered the environmental-economics literature. The present paper seeks to offer first a critical review of key concepts that are essential for a proper understanding of such evaluation issues. Particular attention is

Fair value versus historical cost-based valuation for biological assets: predictability of financial information

Directory of Open Access Journals (Sweden)

Josep M. Argilés

2011-08-01

This paper performs an empirical study with a sample of Spanish farms valuing biological assets at HC and a sample applying FV, finding no significant differences between both valuation methods to assess future cash flows. However, most tests reveal more predictive power of future earnings under fair valuation of biological assets, which is not explained by differences in volatility of earnings and profitability. The study also evidences the existence of flawed HC accounting practices for biological assets in agriculture, which suggests scarce information content of this valuation method in the predominant small business units existing in the agricultural sector in advanced Western countries.

Bulletin du CRDI #124

International Development Research Centre (IDRC) Digital Library (Canada)

Les femmes jouent un rôle important dans les exploitations minières artisanales et à petite échelle en Afrique subsaharienne. De concert ... Couverture du livre: Une vie saine pour les femmes et les enfants vulnérables · Couverture du livre: Entre el activismo y la intervención · Couverture du livre: Revitalizing Health for All.

Bulletin du CRDI #125

International Development Research Centre (IDRC) Digital Library (Canada)

L'IOSRS remporte le prix de la diplomatie scientifique · GrowInclusive : la plateforme tant attendue est en construction · Toutes les nouvelles. Activités à venir. Semaine du développement international 2018. Le CRDI célébrera la Semaine du développement international du 4 au 10 février 2018. Suivez-nous sur Twitter et ...

Annual Equivalent Value, Benefit Cost Ratio, and Composite Performance Index as Valuation Appraisal Support of Teakwood Plantation

Directory of Open Access Journals (Sweden)

Sugiharto Soeleman

2014-04-01

Full Text Available Teak (Tectona grandis L.f is a premium high-value hardwood species being viewed as the most preferred species for investment opportunity. Recently, there has been a gradual move away from state control of teakwood plantation toward the participation of private enterprises. Several enterprises offer investment opportunity of teakwood plantation in which one of the main selling points being offered is a quick harvesting schedule. A quick harvesting time, however, might not provide the best outcome to the investors. This research exercise and compare the valuation appraisal of different harvesting schedules. The research focused on project planning, enterprise budget, financial projection, and valuation measurements to arrive at overall appraisal. To avoid any possible bias of individual investor's preference on common valuation criteria such as total investment, net cash flow (NCF, net present value (NPV, internal rate of return (IRR, profit on investment (P/I, and payback period (PBP, 3 otherS criteria namely benefit cost ratio (BCR, annual equivalent value (AEV, and composite performance index (CPI have been applied to arrive at a more fair valuation. It is concluded that the longer the harvesting schedule, the better valuation outcome could be achieved, and therefore, investors should critically review any investment proposal in accordance to their preference on valuation criteria. Keywords : annual equivalent value, benefit cost ratio, composite performance index, valuation appraisal

Le boom du raffinage en Asie du Sud-Est Refinery Boom in Southeast Asia

Directory of Open Access Journals (Sweden)

Gruson J. F.

2006-11-01

Full Text Available Le marché pétrolier connaît en Asie un développement rapide, principalement dans la zone non OCDE, qui représente aujourd'hui plus de 15 % de la consommation pétrolière mondiale. La croissance économique attendue dans ces pays devrait porter cette part à plus de 25 % d'ici 2010, soit une hausse de la demande de 5,4% par an, principalement dans le secteur des transports. Les investissements qui en découlent pour l'industrie du raffinage régionale sont très élevés (des évaluations les chiffrent à près de 140 milliards de dollars, d'autant plus que la protection de l'environnement commence à prendre une importance significative. Dès lors, le défit majeur de ces pays sera d'assurer les financements nécessaires pour augmenter la capacité de raffinage (un quasi-doublement et l'adapter au poids croissant de l'essence et des distillats moyens dans la demande. La participation d'opérateurs privés apparaît essentielle, mais dépendra fortement du redressement des marges de raffinage et de la réalité de l'ouverture des marchés pétroliers nationaux annoncée par les pouvoirs publics. The Asia demand for oil is increasing dramatically, particularly in the non OECD countries, which represent, today more than 15% of the word oil market. The expected economic growth in these areas should contribute to a rise in oil demand by about 5. 4 per year and hence to a significant increase of this share to 25% in 2010; virtually a large part of this evolution will come from the transportation sector. The proceeding investments of the regional, refining industry are very high (some evaluations come to around 140 billions of dollars, all the more the protection of the environment takes an increasing significant place. Accordingly the most important challenge to be taken up by these countries will be to mobilize long term fundings to develop and adapt the capabilities of the refineries to meet the growth of gasoline and gasoil demand. The

Profils des porteurs du VIH/SIDA au début du traitement ...

African Journals Online (AJOL)

But : Décrire les profils des porteurs de VIH/sida au début du traitement antirétroviral. Matériels et méthode: Les dossiers des porteurs du VIH/sida de la région maritime ont été analysés de mai 2008 à avril 2009 par le comité thérapeutique. Résultats: Parmi les 641 dossiers analysés, 67,40% venaient du district de Yoto.

Repopulation of FaDu human squamous cell carcinoma during fractionated radiotherapy correlates with reoxygenation

International Nuclear Information System (INIS)

Petersen, Cordula; Zips, Daniel; Krause, Mechthild; Schoene, Kerstin; Eicheler, Wolfgang; Hoinkis, Cordelia; Thames, Howard D.; Baumann, Michael

2001-01-01

Purpose: FaDu human squamous cell carcinoma (FaDu-hSCC) showed a clear-cut time factor during fractionated radiotherapy (RT) under ambient blood flow. It remained unclear whether this is caused solely by proliferation or if radioresistance resulting from increasing hypoxia contributed to this phenomenon. To address this question, repopulation of clonogenic FaDu cells during fractionated RT under clamp hypoxia was determined by local tumor control assays, and compared to the results after irradiation with the same regimen under ambient blood flow. Methods and Materials: FaDu-hSCC was transplanted into the right hind leg of NMRI nu/nu mice. In the first set of experiments, irradiation was performed under clamp hypoxia. After increasing numbers of 3 Gy fractions (time intervals 24 h or 48 h), graded top-up doses were given to determine the TCD 50 (dose required to control 50% of the tumors). In the second set of experiments, all 3 Gy fractions were applied under ambient conditions, but as in the previous experiments the graded top-up doses were given under clamp hypoxia. A total of 26 TCD 50 assays were performed and analyzed using maximum likelihood techniques. Results: With increasing numbers of daily fractions, the top-up TCD 50 under clamp hypoxia decreased from 39.4 Gy [95% CI 36, 42] after single dose to 19.8 Gy [15, 24] after 18 fractions in 18 days and to 37.8 Gy [31, 44] after 18 fractions in 36 days. The results were consistent with biphasic repopulation, with a switch to rapid repopulation after about 22 days [13, 30]. The clonogen doubling time (T clon ) decreased from 9.8 days [0, 21] in the beginning of RT to 3.4 days after 22 days. Under ambient blood flow the top-up TCD 50 decreased from 37.6 Gy [34, 40] after single dose irradiation to 0 Gy [0, 1] after 18 fractions in 18 days and 22.4 Gy [18, 27] after 18 fractions in 36 days. Similar to results from irradiations under clamp hypoxia, the ambient data were consistent with a biphasic course of clonogen

Discussion of "Using accounting information for consumption planning and equity valuation"

DEFF Research Database (Denmark)

Christensen, Peter Ove

2007-01-01

This paper discusses Yee (2007), who investigates the role of accounting information for consumption planning and equity valuation. Higher earnings quality increases investor welfare and ex ante stock prices as well as the weight on earnings in valuation equations based on both cash flows...... and earnings. The former is due to improved consumption smoothing through more informed production choices, while the latter is due to the impact on the relative information content of current cash flows versus earnings about future cash flows....

The Analysis of Corporate Bond Valuation under an Infinite Dimensional Compound Poisson Framework

Directory of Open Access Journals (Sweden)

Sheng Fan

2014-01-01

Full Text Available This paper analyzes the firm bond valuation and credit spread with an endogenous model for the pure default and callable default corporate bond. Regarding the stochastic instantaneous forward rates and the firm value as an infinite dimensional Poisson process, we provide some analytical results for the embedded American options and firm bond valuations.

Advances in automated valuation modeling AVM after the non-agency mortgage crisis

CERN Document Server

Kauko, Tom

2017-01-01

This book addresses several problems related to automated valuation methodologies (AVM). Following the non-agency mortgage crisis, it offers a variety of approaches to improve the efficiency and quality of an automated valuation methodology (AVM) dealing with emerging problems and different contexts. Spatial issue, evolution of AVM standards, multilevel models, fuzzy and rough set applications and quantitative methods to define comparables are just some of the topics discussed.

Évaluation de la réussite de l'ouvrage de protection de berges de la Romanche au barrage de Livet, réalisé à l'aide de techniques de génie végétal

Directory of Open Access Journals (Sweden)

DELAGE, Camille

2017-05-01

Full Text Available À l’interface entre les écosystèmes aquatiques et terrestres, le génie végétal sur les berges de cours d’eau s’inspire et utilise les capacités naturelles des végétaux comme matériel de base à la reconstruction de berges. Cette alternative au génie civil, confère aux écosystèmes une meilleure capacité de retour vers des systèmes plus naturels et surtout plus diversifiés. Toutefois, la restauration écologique et particulièrement les techniques de génie végétal souffrent de l’absence généralisée d’évaluation du succès et de retours d’expérience sur le développement des espèces et la tenue des différentes techniques. Cet article présente la démarche adoptée ainsi que les principaux résultats du suivi du réaménagement des berges de la Romanche au barrage de Livet, réalisé avec des techniques mixtes associant enrochements et différentes techniques de génie végétal.

Consumer valuation of health attributes in food

DEFF Research Database (Denmark)

Smed, Sinne; Hansen, Lars Gårn

estimate a hedonic model of consumers’ valuation of food characteristics that allows nutrients to influence utility both through their perceived effects on health and through their effects on the taste and consumption experience. We find that the most highly educated have the same or lower revealed...

Valuation in the Public Sector. Reference Factor in a Credible and Fair Administration

Directory of Open Access Journals (Sweden)

Adela DEACONU

2014-11-01

Full Text Available Public administration reform aims at the transformation of public institutions in business entities in which the principles that govern them are very close to the ones from the sphere of pri- vate entities. Public valuation is an accepted and implemented concept in public administration as a condition for ensuring complete, accurate and transparent images of available resources and their use. The present research determines through an empirical approach the regulation convergence of valuation in the public sector and presents its determinant factors and effects. The referentials subject to comparative analysis are International Valuation Standards (IVS, the last two editions, and International Public Sector Ac- counting Standards (IPSAS.The findings highlight the achievement of the objective of accounting and valuation stan- dard setters, IPSASB and IVSC, with regard to the convergence of valuation concepts and tools, in its last edition from 2011; however, the findings indicate certain differences regarding the guidance extent and the reference to mar- kets and atypical cases triggered by the global economic crisis. Our research has further found that the public accounting referential is closer to IVS 2011 than to IVS 2007 in what concerns disclosure requirements. This is in favor of the requirements imposed by the current economic environment regarding financial reporting, name- ly to provide more detail on the process of value estimation, the hypotheses and predictions used in this respect, and the risk of change of the es- timated value. 

Les effets du changement climatique dans le bassin du Congo : la ...

International Development Research Centre (IDRC) Digital Library (Canada)

22 avr. 2016 ... Dans le bassin du fleuve Congo, plus de 80 % des habitants vivent exclusivement de l'agriculture, de la pêche, de l'élevage et de la cueillette, qui sont des activités largement tributaires du climat.

Activity based costing model for inventory valuation

Directory of Open Access Journals (Sweden)

Vineet Chouhan

2017-03-01

Full Text Available Activity-Based-Model (ABC is used for the purpose of significant improvement for overhead accounting systems by providing the best information required for managerial decision. This pa-per discusses implacability of ABC technique on inventory valuation as a management account-ing innovation. In order to prove the applicability of ABC for inventory control a material driven medium-sized and privately owned company from engineering (iron and steel industry is select-ed and by analysis of its production process and its material dependency and use of indirect in-ventory, an ABC model is explored for better inventory control. The case revealed that the ne-cessity of ABC in the area of inventory control is significant. The company is not only able to increase its quality of decision but also it can significantly analyze its cost of direct material cost, valuation of direct material and use its implications for better decision making.

Les ressources en charbon de l'Amérique du Sud Coal Resources in South America

Directory of Open Access Journals (Sweden)

Alvarado B.

2006-10-01

Full Text Available L'Amérique du Sud en général est mal pourvue en ressources de charbon puisqu'elle ne représente que 0,5 % des ressources mondiales. Cependant, avec la crise actuelle de l'énergie et le développement rapide de l'industrie sidérurgique locale, tous les pays possesseurs de charbon s'appliquent à faire des recherches tendant à évaluer à sa juste valeur le potentiel charbonnier comme la source d'énergie la plus traditionnelle et la matière première irremplaçable pour la production du coke métallurgique. Dans cet article, il sera question des ressources d'Argentine, du Brésil, du Chili, de Colombie, du Pérou et du Venezuela, seuls pays qui recèlent des réserves reconnues. Les principaux gisements sud-américains se rencontrent dans les sédiments gondwaniens, crétacés, et certains probablement déposés dans des milieux deltaïques et lacustres, avec majorité de charbons bitumineux et sub-bitumineux de haute volatilité. La Colombie est le pays qui a les plus grandes ressources et toutes les catégories de charbon y compris ceux cokéfiables. Du fait que les diverses évaluations nationales ne sont pas comparables, compte tenu de ce qu'elles sont basées sur des concepts géologiques et technologiques avec des niveaux de pronostics et de certitudes variables, l'auteur, pour éviter une plus grande confusion, n'exprimera pas la grandeur des ressources en chiffres absolus. Generally speaking, South America is poor in coal resources, with only 0,50% of the world's supplies. Nonetheless, with the present energy crisis and the rapid development of the local steel industry, all countries possessing coal deposits are undertaking research to evaluate accurately their potential resources of coal, the most traditional energy source and the indispensable raw material for the production of foundry coke. In this paper will be discussed the resources of those South Americon countries known to have coal reserves: Argentina, Brazil, Chile

(Sorghum bicolor (L.) Moench) du Nord du Burkina Faso

African Journals Online (AJOL)

SARAH

29 déc. 2014 ... sorghos à grains sucrés ont un cycle court et arrivent donc à maturité avant les autres sorghos et le mil d'où leur exploitation comme aliment de soudure par les paysans. L'organisation de la diversité morphologique des accessions de sorghos à grains sucrés du Nord du. Burkina autour principalement des ...

Etude de la transition ferroelectrique-ferroelastique du KD2PO4 forme du front de phase en fonction du gradient thermique

OpenAIRE

Kvítek, Zdeněk

2010-01-01

Etude de la transition ferroelectrique-ferroelastique du KD2PO4 forme du front de phase en fonction du gradient thermique The thesis explores complex process of first order transition of KD2PO4 crystal from tetragonal phase to ferroelectric - ferroelastic orthorhombic phase and back at temperature 209 K. The experimental set up of nitrogeneous cryostat allowes temperature and temperature gradient variations during simultaneous three axes optical sample observations, dielectric measurements. T...

Les Cahiers du CREAD

African Journals Online (AJOL)

Admin

politique de bas prix exercée par la Russie et le Qatar vient confirmer ce constat ; s'ajoute à cela l'entrée éventuelle du gaz non conven- tionnel, dont son prix actuel de 3/4 $US, offre aux USA l'opportunité d'être exportateur de ..... les compagnies à produire en matière du gaz naturel, tels le prix du gaz naturel, le prix des ...

La police de proximité aux Pays-Bas: le cas de la ville de Haarlem

NARCIS (Netherlands)

van der Vijver, Kees

2000-01-01

Cet article donne un aperçu des résultats d’une étude de cas approfondie sur la police de proximité, menée entre 1983 et 1986 dans la ville de Haarlem. L’évaluation du dispositif de police par équipes de quartier conclut à des résultats convaincants : baisse du taux de criminalité, du sentiment

"Tell me I'm sexy…and otherwise valuable:" Body Valuation and Relationship Satisfaction.

Science.gov (United States)

Meltzer, Andrea L; McNulty, James K

2014-03-01

Although extant research demonstrates that body valuation by strangers has negative implications for women, Studies 1 and 2 demonstrate that body valuation by a committed male partner is positively associated with women's relationship satisfaction when that partner also values them for their non-physical qualities, but negatively associated with women's relationship satisfaction when that partner is not committed or does not value them for their non-physical qualities. Study 3 demonstrates that body valuation by a committed female partner is negatively associated with men's relationship satisfaction when that partner does not also value them for their non-physical qualities but unassociated with men's satisfaction otherwise. These findings join others demonstrating that fully understanding the implications of interpersonal processes requires considering the interpersonal context. (120 words).

Renforcement des capacités d'évaluation dans le domaine des ...

International Development Research Centre (IDRC) Digital Library (Canada)

Les subtilités des interactions entre les technologies de l'information et de la communication (TIC) et les sociétés en développement exigent une évaluation réfléchie et systématique, axée sur l'utilité, les résultats et l'appropriation. Cette subvention permettra au projet de renforcement des capacités d'évaluation dans le ...

The Role Of Business Valuation For The Financial Management Of Industrial Companies

OpenAIRE

Donka, Andreeva

2013-01-01

The approaches and methods for business valuation of industrial companies, related in a specific way in a methodology, are the focus of this article. These approaches and methods are increasingly attracting attention, especially the attention of financial management, due to the constant need for specifying the value of the industrial company and of its business respectively, currently, as well as in the future. The methods for business valuation of the industrial business company are illustra...

Option Valuation with Observable Volatility and Jump Dynamics

DEFF Research Database (Denmark)

Christoffersen, Peter; Feunou, Bruno; Jeon, Yoontae

Under very general conditions, the total quadratic variation of a jump-diffusion process can be decomposed into diffusive volatility and squared jump variation. We use this result to develop a new option valuation model in which the underlying asset price exhibits volatility and jump intensity...... dynamics. The volatility and jump intensity dynamics in the model are directly driven by model-free empirical measures of diffusive volatility and jump variation. Because the empirical measures are observed in discrete intervals, our option valuation model is cast in discrete time, allowing...... for straightforward filtering and estimation of the model. Our model belongs to the affine class enabling us to derive the conditional characteristic function so that option values can be computed rapidly without simulation. When estimated on S&P500 index options and returns the new model performs well compared...

L'action du CRDI — le développement du secteur privé

International Development Research Centre (IDRC) Digital Library (Canada)

Cathy Egan

Le CRDI est du nombre. Il reconnaît depuis longtemps la valeur de l'industrie, des échanges et du commerce comme moteurs de la croissance économique. Grâce au soutien concret qu'il a accordé au développement du secteur privé, le CRDI a appris que deux types d'aide peuvent porter fruit : améliorer le con- texte dans ...

Testing the construct validity of willingness to pay valuations using objective information about risk and health benefit.

Science.gov (United States)

Philips, Zoë; Whynes, David K; Avis, Mark

2006-02-01

This paper describes an experiment to test the construct validity of contingent valuation, by eliciting women's valuations for the NHS cervical cancer screening programme. It is known that, owing to low levels of knowledge of cancer and screening in the general population, women both over-estimate the risk of disease and the efficacy of screening. The study is constructed as a randomised experiment, in which one group is provided with accurate information about cervical cancer screening, whilst the other is not. The first hypothesis supporting construct validity, that controls who perceive greater benefits from screening will offer higher valuations, is substantiated. Both groups are then provided with objective information on an improvement to the screening programme, and are asked to value the improvement as an increment to their original valuations. The second hypothesis supporting construct validity, that controls who perceive the benefits of the programme to be high already will offer lower incremental valuations, is also substantiated. Copyright 2005 John Wiley & Sons, Ltd.

Communication progressive du français avec 320 exercices : niveau débutant

CERN Document Server

Miquel, Claire

2013-01-01

Ce qui fait le succès de cete ouvrage de communication: Une organisation claire: la leçon sur la page de gauche; les exercices et les activités communicatives sur la page de droite 40 fiches présentant les points généralement abordés au niveau A1 du Cadre européen commun de référence pour les langues Un apprentissage progressif: il suit la progression naturelle des méthodes de français Un usage souple: pour la classe ou en auto-apprentissage Une préparation adaptée aux certifications: un entrainement efficace pour mieux réussir aux examens A découvrir dans cette deuxième édition revue et augmentée: Un CD audio avec 69 documents sonores Un test d'évaluation avec ses corrigés Des illustrations pédagogiques acutelles et colorées 50 nouveaux exercices. Un livret de corrigés est proposé à part (ISBN 978-209-038133-7).

Valuation of ecological resources

Energy Technology Data Exchange (ETDEWEB)

Scott, M.J.; Bilyard, G.R.; Link, S.O.; Ricci, P.F.; Seely, H.E.; Ulibarri, C.A.; Westerdahl, H.E.

1995-04-01

Ecological resources are resources that have functional value to ecosystems. Frequently, these functions are overlooked in terms of the value they provide to humans. Environmental economics is in search of an appropriate analysis framework for such resources. In such a framework, it is essential to distinguish between two related subsets of information: (1) ecological processes that have intrinsic value to natural ecosystems; and (2) ecological functions that are values by humans. The present study addresses these concerns by identifying a habitat that is being displaced by development, and by measuring the human and ecological values associated with the ecological resources in that habitat. It is also essential to determine which functions are mutually exclusive and which are, in effect, complementary or products of joint production. The authors apply several resource valuation tools, including contingent valuation methodology (CVM), travel cost methodology (TCM), and hedonic damage-pricing (HDP). One way to derive upper-limit values for more difficult-to-value functions is through the use of human analogs, because human-engineered systems are relatively inefficient at supplying the desired services when compared with natural systems. Where data on the relative efficiencies of natural systems and human analogs exist, it is possible to adjust the costs of providing the human analog by the relative efficiency of the natural system to obtain a more realistic value of the function under consideration. The authors demonstrate this approach in an environmental economic case study of the environmental services rendered by shrub-steppe habitats of Benton County, Washington State.

Carbon Valuation: Alternatives, Alternations and Lateral Measures?

DEFF Research Database (Denmark)

Dalsgaard, Steffen

2016-01-01

This article refers to carbon valuation as the practice of ascribing value to, and assessing the value of, actions and objects in terms of carbon emissions. Due to the pervasiveness of carbon emissions in the actions and objects of everyday lives of human beings, the making of carbon offsets and ...

398 ASSESSMENT OF WETLAND VALUATION PROCESSES FOR ...

African Journals Online (AJOL)

Osondu

This study therefore examined the processes involved in the valuation of wetland resources for ... of the subsistence uses of wetland resources are also not ... hydrological cycle, playing a key role in the provision ..... Management Strategies at the River Basin Scale. A ... Using. GIS: A Thesis Submitted to the Graduate Faculty.

Residential Property Composition of School Districts: Its Effect on Tax Rate and Per Pupil Revenue.

Science.gov (United States)

Lundeen, Virginia; And Others

This study related tax rate and per pupil revenue to residential assessed valuation, percent residential of total assessed valuation, and selected socioeconomic independent variables for school districts in Cook, DeKalb, DuPage, Kane, and Lake counties in Illinois. Findings suggest that for homeowners and the students of these counties in 1976,…

26 CFR 25.7520-1 - Valuation of annuities, unitrust interests, interests for life or terms of years, and remainder...

Science.gov (United States)

2010-04-01

...) with respect to the valuation of the remainder interest in property transferred to a charitable... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Valuation of annuities, unitrust interests...) ESTATE AND GIFT TAXES GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 General Actuarial Valuations § 25.7520...

Annual Equivalent Value, Benefit Cost Ratio, and Composite Performance Index as Valuation Appraisal Support of Teakwood Plantation

Directory of Open Access Journals (Sweden)

Sugiharto Soeleman

2014-04-01

Full Text Available Teak (Tectona grandis L.f is a premium high-value hardwood species being viewed as the most preferred species for investment opportunity. Recently, there has been a gradual move away from state control of teakwood plantation toward the participation of private enterprises. Several enterprises offer investment opportunity of teakwood plantation in which one of the main selling points being offered is a quick harvesting schedule. A quick harvesting time, however, might not provide the best outcome to the investors. This research exercise and compare the valuation appraisal of different harvesting schedules. The research focused on project planning, enterprise budget, financial projection, and valuation measurements to arrive at overall appraisal. To avoid any possible bias of individual investor's preference on common valuation criteria such as total investment, net cash flow (NCF, net present value (NPV, internal rate of return (IRR, profit on investment (P/I, and payback period (PBP, 3 otherS criteria namely benefit cost ratio (BCR, annual equivalent value (AEV, and composite performance index (CPI have been applied to arrive at a more fair valuation. It is concluded that the longer the harvesting schedule, the better valuation outcome could be achieved, and therefore, investors should critically review any investment proposal in accordance to their preference on valuation criteria.

Option Valuation with Long-run and Short-run Volatility Components

DEFF Research Database (Denmark)

Christoffersen, Peter; Jacobs, Kris; Ornthanalai, Chayawat

This paper presents a new model for the valuation of European options, in which the volatility of returns consists of two components. One of these components is a long-run component, and it can be modeled as fully persistent. The other component is short-run and has a zero mean. Our model can...... be viewed as an affine version of Engle and Lee (1999), allowing for easy valuation of European options. The model substantially outperforms a benchmark single-component volatility model that is well-established in the literature, and it fits options better than a model that combines conditional...... model long-maturity and short-maturity options....

On a Generalized Squared Gaussian Diffusion Model for Option Valuation

Directory of Open Access Journals (Sweden)

Edeki S.O.

2017-01-01

Full Text Available In financial mathematics, option pricing models are vital tools whose usefulness cannot be overemphasized. Modern approaches and modelling of financial derivatives are therefore required in option pricing and valuation settings. In this paper, we derive via the application of Ito lemma, a pricing model referred to as Generalized Squared Gaussian Diffusion Model (GSGDM for option pricing and valuation. Same approach can be considered via Stratonovich stochastic dynamics. We also show that the classical Black-Scholes, and the square root constant elasticity of variance models are special cases of the GSGDM. In addition, general solution of the GSGDM is obtained using modified variational iterative method (MVIM.

Serious child and adolescent behaviour disorders; a valuation study by professionals, youth and parents.

Science.gov (United States)

Vermeulen, Karin M; Jansen, Daniëlle E M C; Buskens, Erik; Knorth, Erik J; Reijneveld, Sijmen A

2017-06-02

In child and youth care, quantitative estimates of the impact of serious behaviour problems have not yet been made. Such input is needed to support decision making on investments in treatment. The aim of this paper was to elicit valuations of social and conduct disorders in children and adolescents from three different perspectives: professionals, youth, and parents. We obtained valuations from 25 youth care professionals, 50 children (age 9-10) without serious behaviour problems and 36 adolescents (age 16-17) with and without serious behaviour disorders, and 46 parents with children in the aforementioned age categories. Valuations were estimated from 18 descriptions of behaviour disorders in youth aged 9 and 15 years. Descriptions included Oppositional Defiant Disorder (ODD), Conduct Disorder (CD), and Disruptive Behaviour Disorder (DBD). Comorbid conditions were Attention Deficit Hyperactivity Disorder and substance abuse. Valuations were obtained with the EuroQol questionnaire (EQ-5D-3 L) and a visual analogue scale (VAS). Valuations were generally severe; problems were by and large reported to worsen quality of life by 50% compared to being fully healthy. Professionals regarded DBD with substance abuse as most severe (VAS values 0.41 for children, and 0.43 for adolescents, i.e. less than half of normal). They rated ODD as least severe (VAS values 0.58 for children, 0.59 for adolescents). Children, adolescents and parents gave lower valuations than professionals, and had a wider range of scores, particularly at the lower end of the scale. Behaviour disorders pose a formidable burden from the perspectives of professionals as well as children, adolescents and parents. These results may support medical decision making to set priorities with regard to prevention and treatment based on perceived severity.

Identification des matériaux et étude du bâti : l’exemple du Clos du Cotentin

Directory of Open Access Journals (Sweden)

Julien Deshayes

2012-04-01

Full Text Available Partant de l’architecture vernaculaire de la Presqu’île du Cotentin, cette étude s’attache à montrer comment l'identification des matériaux de construction, replacée dans une problématique historique, peut fournir un outil d'analyse privilégié du bâti, notamment en matière de chronologie. L'identification des principaux centres carriers et de leur aire d'exportation permet de mieux appréhender l'évolution des modénatures et de raisonner sur des typologies cohérentes. L'acquisition de tels critères d'analyse, peu généralisables hors de régions très délimitées, est nécessairement liée à une expérience prolongée du terrain. L’exemple du Clos du Cotentin offre, en matière d'identification des matériaux et d'étude du bâti, un manifeste en faveur d'une approche topographique approfondie, susceptible de replacer l'architecture rurale dans le cadre d'une évolution historique.Based on the vernacular architecture of the Cotentin peninsula, this article sets out to show how the identification of construction materials, placed in a historical context, can offer a particularly useful tool for analysing buildings, notably for their chronology. The identification of the principle stone quarries and their zones of commercial influence gives information on the evolution of architectural proportions and permits the development of coherent typologies. The acquisition of such analytical criteria is difficult to generalise beyond strictly limited regions and are necessarily linked with in-depth familiarity with the territory concerned. The example that the Clos du Cotentin offers for the identification of building materials and the study of buildings may be seen as a manifesto in favour of a detailed topographical approach, capable of placing rural architecture in the framework of its historical evolution.

Customs Valuation Reform in the Philippines

OpenAIRE

Clarete, Ramon L.

2004-01-01

This paper documents the adoption of transaction valuation reform in the Philippines and assesses its impact on collection, customs administration cost, and business transaction cost. Philippine customs authorities and critics of the reform have been concerned that giving up the use of published official customs values would lower customs collection. On the contrary, this research shows the use of transaction values expanded customs revenues.

Dynamique des populations du foreur des tiges du cacaoyer ...

African Journals Online (AJOL)

Objectif : Le foreur de tiges du cacaoyer, Eulophonotus myrmeleon Felder cause aujourd'hui d'énormes dégâts dans les cacaoyères ivoiriennes. La présente étude vise à déterminer les périodes de fortes attaques de ce déprédateur dans la région du Haut-Sassandra, la deuxième plus grande région de production de ...

La formation continue des usagers : évaluation qualitative des rendez-vous d'évaluation post-permis pour les conducteurs novices. Thème 11. Rapport final

OpenAIRE

CHATENET, F; TORRES, S; GAUTHIER, P; PERVANCHON, M

2001-01-01

Rapport final de convention DSCR/INRETS. Le présent rapport fait état de l'évaluation qualitative des rendez-vous d'évaluation (RVE) pour les conducteurs novices, le volet des rendez-vous de perfectionnement (RVP) pour les conducteurs expérimentés sera abordé ultérieurement dans le cadre d'une convention DSCR/INRETS. La première partie développe les problématiques et les objectifs poursuivis par cette étude ainsi que la méthodologie qui a été utilisée. Les trois autres parties présentent les...

Equity valuation of Tesco Plc.

OpenAIRE

Schmitz, Clemens

2015-01-01

This dissertation aimed to value the British retailer Tesco Plc. The objective was to determine a target price for the company and as a consequence determine a buy or sell recommendation when comparing it to the current market price. After the state of the art of literature regarding equity valuation has been assessed, the retail industry as well as Tesco have been analysed in more detail. Based on this, the retail business of Tesco has been valued using the Adjusted Present Va...

Human Resource Valuation and the Performance of Selected Banks ...

African Journals Online (AJOL)

Human Resource Valuation and the Performance of Selected Banks in ... the researcher gathered data from Nigerian banks listed in the Nigeria Stock ... Conclusively, human resources cost approach to corporate performance measurement ...

Option valuation with the simplified component GARCH model

DEFF Research Database (Denmark)

Dziubinski, Matt P.

We introduce the Simplified Component GARCH (SC-GARCH) option pricing model, show and discuss sufficient conditions for non-negativity of the conditional variance, apply it to low-frequency and high-frequency financial data, and consider the option valuation, comparing the model performance...

Essays on valuation and risk management for insurers

NARCIS (Netherlands)

Plat, H.J.

2011-01-01

In recent years there has been increasing attention of the insurance industry for market consistent valuation of insurance liabilities and the quantification of insurance risks. Important drivers of this development are the new regulatory requirements resulting from the introduction of IFRS 4 Phase

Valuation of private companies by Estonian private equity and venture capitalists / Priit Sander, Margus Kõomägi

Index Scriptorium Estoniae

Sander, Priit, 1973-

2007-01-01

Eraettevõtete hindamine Eesti era- ja riskiinvestorite poolt. Riskikapitali hinnakujundamise meetodid. Tabelid: Venture capital valuation issues; Venture capital pricing issues and return. Skeem: The venture capital valuation process in Estonia

Le développement durable du tourisme dans les territoires insulaires français et la valorisation touristique des espaces naturels littoraux métropolitains

Directory of Open Access Journals (Sweden)

Nadège Lombard

2009-05-01

Full Text Available Cet article aborde la question du développement touristique dans les territoires insulaires, et propose un éclairage plus particulier sur la valorisation touristique des espaces naturels. Il présente, tout d’abord, les enjeux du développement durable du tourisme dans les territoires insulaires français. En fonction de la taille des îles, de leur accessibilité, de l’importance de leur fréquentation touristique on peut distinguer différents types d’îles.  Le défi pour chaque  île réside dans la mise en oeuvre d’un projet en étroite adéquation avec ses propres ressources et les spécificités de son territoire pour assurer un développement durable du tourisme. L’article illustre ensuite l’exemple de la valorisation touristique des espaces naturels, l’ambivalence du rapport entre le tourisme et ces espaces. Il s’attache à montrer en quoi le tourisme qui peut être parfois à l’origine de la  dégradation des espaces naturels peut être source de retombées positives pour l’environnement dès lors que les acteurs du territoire sont en situation de gérer leur développement. L’article s’achève sur un essai d’élaboration de grille d’évaluation des retombées économiques liées à la valorisation touristique des espaces naturels, appliqué à l’exemple du site naturel de la Pointe d’Agon, situé au nord du Mont Saint Michel, dans le département de la Manche.This article tackles with the issue of tourism in islands and focuses on tourist development of natural sites. First it highlights the issue of sustainable tourism for French islands. Several types of islands can be characterized, according to size, accessibility, tourist-going... To guarantee a sustainable development, the challenge is to lead a project based on the characteristics of the island and its own ressources.Then, this article enlarges on the paradox between tourism and conservation. Tourism can damage the environment but, when it

Agent de gestion de programme – Initiative Think tank (h/f) | CRDI ...

International Development Research Centre (IDRC) Digital Library (Canada)

... soient classés et catalogués comme il se doit; Coordonner avec l'aide des consultants le partage de connaissances et de pratiques exemplaires lors des différentes activités du programme; Participer à l'auto-évaluation du programme dans le cadre de l'examen externe, ainsi qu'à la préparation du rapport de fin de cycle ...

26 CFR 1.642(c)-6 - Valuation of a remainder interest in property transferred to a pooled income fund.

Science.gov (United States)

2010-04-01

... 26 Internal Revenue 8 2010-04-01 2010-04-01 false Valuation of a remainder interest in property... § 1.642(c)-6 Valuation of a remainder interest in property transferred to a pooled income fund. (a) In... transferred property on the valuation date. The fact that the income beneficiary may not receive the last...

Le Developmental Entrepreneurship Program du Massachusetts ...

International Development Research Centre (IDRC) Digital Library (Canada)

Faire en sorte que les étudiants venant des pays en développement pour étudier au MIT retournent ensuite dans leurs pays respectifs afin d'y concrétiser leurs idées est un souci majeur du MIT, des bailleurs de fonds et du milieu du développement. Ce projet palliera à ce souci en soutenant la formation des fellows du ...

Nouvel outil d'évaluation pour apprécier la qualité de la recherche ...

International Development Research Centre (IDRC) Digital Library (Canada)

25 avr. 2016 ... Cette évaluation, qui comporte trois phases, a pour but de définir et de ... Pour ce faire, on a analysé des outils et des démarches d'évaluation de l'excellence ... The Research Quality Plus (RQ+) Assessment Instrument (texte ...

26 CFR 301.7517-1 - Furnishing on request of statement explaining estate or gift valuation.

Science.gov (United States)

2010-04-01

... estate or gift valuation. 301.7517-1 Section 301.7517-1 Internal Revenue INTERNAL REVENUE SERVICE... estate or gift valuation. (a) In general. Section 7517 requires the Service to furnish to a taxpayer, at the request of that taxpayer, a statement explaining the estate, gift or generation-skipping transfer...

Contingent valuation of environmental goods - Closure of Barsebaeck

International Nuclear Information System (INIS)

Jordal-Joergensen, J.

1995-01-01

Decisions in the community, are usually taken on the basis of economic calculations. Many environmental effects, however, are excluded from these calculations because it is often difficult to value environmental effects in monetary terms. Contingent valuation has recently become widespread in connection with this purpose, namely in the USA, but also in a number of European countries like, for example, Norway and Sweden. In Denmark the method has been applied sporadically in recent years. The purpose of this study is; to elucidate the problems associated with contingent valuation when the method is used in practice; to indicate study designs which can solve these problems; and draw attention to the reservations which must be made in respect of the results of these types of studies. The data material consists of 298 telephone interviews and 13 personal interviews. The interviewees all live in a radius of 30 km from Barsebaeck. The 311 interviews took place in the period of December 1993 to February 1994, approx. two months after extensive publicity concerning leakages at Barsebaeck. In the telephone interviews, 240 out of the 298 (80%) asked agreed to take part in the interviews. The conclusion cannot be directly transferred to other environmental goods. Barsebaeck was a special case because the risk was known prior to the study. In valuation of goods with which the respondents are not previously familiar, the greater need for information can necessitate using personal interviews. The method provides a better possibility of incorporating environmental effects directly in macroeconomic analyses. (EG)

Landslides geotechnical analysis. Qualitative assessment by valuation factors

Science.gov (United States)

Cuanalo Oscar, Sc D.; Oliva Aldo, Sc D.; Polanco Gabriel, M. E.

2012-04-01

In general, a landslide can cause a disaster when it is combined a number of factors such as an extreme event related to a geological phenomenon, vulnerable elements exposed in a specific geographic area, and the probability of loss and damage evaluated in terms of lives and economic assets, in a certain period of time. This paper presents the qualitative evaluation of slope stability through of Valuation Factors, obtained from the characterization of the determinants and triggers factors that influence the instability; for the first the morphology and topography, geology, soil mechanics, hydrogeology and vegetation to the second, the rain, earthquakes, erosion and scour, human activity, and ultimately dependent factors of the stability analysis, and its influence ranges which greatly facilitate the selection of construction processes best suited to improve the behavior of a slope or hillside. The Valuation Factors are a set of parameters for assessing the influence of conditioning and triggering factors that influence the stability of slopes and hillsides. The characteristics of each factor must be properly categorized to involve its effect on behavior; a way to do this is by assigning a weighted value range indicating its effect on the stability of a slope. It is proposed to use Valuation Factors with weighted values between 0 and 1 (arbitrarily selected but common sense and logic), the first corresponds to no or minimal effect on stability (no effect or very little influence) and the second, the greatest impact on it (has a significant influence). The meddle effects are evaluated with intermediate values.

Valuation of switchable tariff for wind energy

International Nuclear Information System (INIS)

Yu, Wang; Sheble, Gerald B.; Lopes, Joao A. Pecas; Matos, Manuel Antonio

2006-01-01

The current fixed tariff remuneration for wind energy is not compatible with the deregulation of the electric power industry. The time-varying and location-dependent value of renewable energy is not acknowledged. The newly announced switchable tariff for wind energy in the Spanish electricity market provides a promising solution to compensating renewable energy within the deregulated electric power industry. The new switchable tariff provides wind generators more flexibility in operating wind generation assets. Such flexibilities provide option value in coordinating the seasonality of wind energy, demand on electric power and electricity prices movement. This paper models and valuates the flexibility on switching tariff as real compound options for wind generators. Numerical examples valuate wind generation assets under fixed tariff, spot market price taking, and yearly and monthly switchable tariffs. The optimal switching strategies are identified. The impacts of the switchable tariff on sitting criteria and values of wind generation assets are investigated. An improvement on the yearly switchable tariff is suggested to further reduce the operation risk of wind generators and fully explore the efficiency provided by competitive electricity markets. (author)

"Cirque du Freak."

Science.gov (United States)

Rivett, Miriam

2002-01-01

Considers the marketing strategies that underpin the success of the "Cirque du Freak" series. Describes how "Cirque du Freak" is an account of events in the life of schoolboy Darren Shan. Notes that it is another reworking of the vampire narrative, a sub-genre of horror writing that has proved highly popular with both adult and…

Author Details

African Journals Online (AJOL)

Appolinaire, LJ. Vol 81 (2014) - Articles Évaluation des activités antifongiques des extraits de plantes contre Phytophthora colocasiae, agent causal du mildiou du taro (Colocasia esculenta (L.) Schott) Abstract PDF. ISSN: 1997-5902. AJOL African Journals Online. HOW TO USE AJOL... for Researchers · for Librarians ...

a comparison of wetland valuation purposes in lagos metropolis

African Journals Online (AJOL)

Osondu

Also, NIESV should incorporate environmental valuation in the curriculum for professional ... 1Department of Estate Management, School of Environmental. Sciences, College of .... implicit (non-market) value of the fishery of marsh habitat can ...

Valuation of Company Merger from the Shareholders’ Point of View

Directory of Open Access Journals (Sweden)

Christian Toll

2017-08-01

Full Text Available By means of a company merger formerly legally and economically independent companies are tied up to an economic entity. To order the financial state of affairs after the merger, the current shareholders must revalue their stake in the merged company. The interest is focused on the valuation of shares and, consequently, on the allocation of the future economic benefits of the merged company to each owner. Despite the apparent relevance of company mergers in practice, the scientific literature deals with this topic only in an unsatisfying manner. After some early simple model-oriented approaches with the aim to define an ideal exchange ratio, the valuation problem of a merger was taken up again not earlier than in Hering (2004. Based on his considerations, the aim of our paper is to extend and generalize the valuation methods for a company merger and foremost to set the algebra for the computation of the critical share by using maximization of wealth as target function on a firm foundation. We assign a certain marginal quota to the shareholders representing the minimum share in the merged company which puts them in a financial position no worse than compared to the going concern basis. For this reason, we introduce the state marginal quota model as an innovative valuation approach that considers both existing market imperfections and individual expectations of a specific shareholder. To pinpoint our key finding: If private financial redistributions are available, our extended and generalized model shows that the marginal quota * in question cannot be “trivially” obtained as a ratio of utilities. Instead, it is essential to consider the private decision field of a shareholder to allow a restructuring of the dividend payout stream offered by the merged company in order to reach at least a level of utility which is comparable to the state before the merger.

Suivi après le traitement du cancer du sein

Science.gov (United States)

Sisler, Jeffrey; Chaput, Geneviève; Sussman, Jonathan; Ozokwelu, Emmanuel

2016-01-01

Résumé Objectif Offrir aux médecins de famille un résumé des recommandations fondées sur les données probantes pour guider les soins aux survivantes traitées pour le cancer du sein. Qualité des données Une recherche documentaire a été effectuée dans MEDLINE entre 2000 et 2016 à l’aide des mots-clés anglais suivants : breast cancer, survivorship, follow-up care, aftercare, guidelines et survivorship care plans, en se concentrant sur la revue des lignes directrices publiées récemment par les organismes nationaux de cancérologie. Les données étaient de niveaux I à III. Message principal Les soins aux survivantes comportent 4 facettes : surveillance et dépistage, prise en charge des effets à long terme, promotion de la santé et coordination des soins. La surveillance des récidives ne se traduit que par une mammographie annuelle, et le dépistage d’autres cancers doit suivre les lignes directrices basées sur la population. La prise en charge des effets à long terme du cancer et de son traitement aborde des problèmes courants tels la douleur, la fatigue, le lymphœdème, la détresse et les effets indésirables des médicaments, de même que les préoccupations à long terme comme la santé du cœur et des os. La promotion de la santé met en relief les bienfaits de l’activité chez les survivantes du cancer, avec l’accent mis sur l’activité physique. Les soins aux survivantes sont de meilleure qualité lorsque divers services et professionnels de la santé participent aux soins, et le médecin de famille joue un rôle important dans la coordination des soins. Conclusion Les médecins de famille sont de plus en plus souvent les principaux fournisseurs de soins de suivi après le traitement du cancer du sein. Le cancer du sein doit être considéré comme une affection médicale chronique, même chez les femmes en rémission, et les patientes profitent de la même approche que celle utilisée pour les autres affections chroniques en

Identifying the warm glow effect in contingent valuation

NARCIS (Netherlands)

Nunes, P.A.L.D.; Schokkaert, E.

2003-01-01

This paper reports the results from a contingent valuation study designed to investigate the influence of warm glow in willingness to pay (WTP) responses. Interindividual differences in warm glow motivation are measured through a factor analysis, performed on a list of attitudinal items. The

Directional heterogeneity in WTP models for environmental valuation

NARCIS (Netherlands)

Schaafsma, M.; Brouwer, R.; Rose, J.

2012-01-01

Many studies in the stated preference literature on environmental valuation do not include the effects of substitutes and distance in willingness-to-pay (WTP) models, in spite of the relevance of these effects in aggregation and benefit transfer. Heterogeneity in the availability of substitutes over

ETUDE DU COMPORTEMENT MECANIQUE DU BETON CELLULAIRE AUTOCLAVE PRODUIT EN ALGERIE

Directory of Open Access Journals (Sweden)

R BELOUETTAR

2002-12-01

Full Text Available Ce travail présente une étude expérimentale du comportement mécanique du béton cellulaire autoclavé. L’étude est portée essentiellement sur une série d’essais mécaniques en compression quasistatique à différentes vitesses de déformation variables entre 10-4 s-1 et 10 s-1 et à deux états différents (état sec et état saturé d’eau. En général, l’augmentation de la vitesse de déformation donne une augmentation de la contrainte critique du béton cellulaire autoclavé. Le béton cellulaire autoclavé présente une sensibilité à la vitesse de déformation positive. La valeur du module d’élasticité est proche de la valeur standard (1.5 GPa pour un béton cellulaire autoclavé de masse volumique égale à 500-550 kg/m3.

Quantifying Users' Interconnectedness in Online Social Networks - An Indispensible Step for Economic Valuation

Science.gov (United States)

Gneiser, Martin; Heidemann, Julia; Klier, Mathias; Landherr, Andrea; Probst, Florian

Online social networks have been gaining increasing economic importance in light of the rising number of their users. Numerous recent acquisitions priced at enormous amounts have illustrated this development and revealed the need for adequate business valuation models. The value of an online social network is largely determined by the value of its users, the relationships between these users, and the resulting network effects. Therefore, the interconnectedness of a user within the network has to be considered explicitly to get a reasonable estimate for the economic value. Established standard business valuation models, however, do not sufficiently take these aspects into account. Thus, we propose a measure based on the PageRank-algorithm to quantify users’ interconnectedness in an online social network. This is a first but indispensible step towards an adequate economic valuation of online social networks.

Cold water inlet in solar tanks - valuation

DEFF Research Database (Denmark)

Andersen, Elsa

1999-01-01

The aim of the project is to make a proposal for how to value a storage tank with a poor design of the cold water inlet. Based on measurements and calculations a number of curves, which are valid for this valuation, are worked out. Based on a simple test with a uniform heated storage tank the rat...

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International Development Research Centre (IDRC) Digital Library (Canada)

L'Évaluation et le suivi participatifs présente une vue d'ensemble des thèmes et expériences communs aux approches participatives du suivi et de l'évaluation de divers secteurs et institutio. Directeur(s) : Marisol Estrella, with Jutta Blauert, Dindo Campilan, John Gaventa, Julian Gonsalves, Irene Guijt, Deb Johnson et ...

Dynamique des populations du foreur des tiges du cacaoyer ...

African Journals Online (AJOL)

SARAH

30 nov. 2014 ... déprédateur dans la région du Haut-Sassandra, la deuxième plus grande région de production de cacao en. Côte d'ivoire. Méthodologie et résultats : L'étude a été réalisée de 2009 à 2013 dans les plantations villageoises de la région du Haut-Sassandra en Côte d'Ivoire. Les variations des taux d'attaques ...

A Literature Review Fuzzy Pay-Off-Method – A Modern Approach in Valuation

Directory of Open Access Journals (Sweden)

Daniel Manaţe

2015-01-01

Full Text Available This article proposes to present a modern approach in the analysis of updated cash flows. The approach is based on the Fuzzy Pay-Off-Method (FPOM for Real Option Valuation (ROV. This article describes a few types of models for the valuation of real options currently in use. In support for the chosen FPOM method, we included the mathematical model that stands at the basis of this method and a case study.

La longue marche du mouvement sportif camerounais : l'émergence du Comité Olympique Camerounais (1946–1964

Directory of Open Access Journals (Sweden)

Charitas Pascal

2016-01-01

Dans ces conditions et selon le statut particulier de ce territoire du « pré-carré » africain de la France, il s'agit de comprendre les étapes de l'institutionnalisation du sport camerounais au sein des atermoiements de la colonisation française puis les processus à l'œuvre dans l'émergence puis la création du Comité Olympique Camerounais (COC, symbole de l'émancipation du sport camerounais et marqueur de son intégration sur la scène sportive internationale, plus particulièrement olympique. Autrement dit, de 1946 et la mise sous tutelle par l'ONU du Cameroun français pour sa partie orientale à 1964 et la première participation du CNO du Cameroun aux Jeux olympiques de Tokyo, l'objectif est de saisir ici le passage d'un sport colonial à un sport postcolonial mettant en exergue le rôle de l'influence française et le rôle des cadres camerounais du secteur sportif.

Valuation of long-term investments in energy assets under uncertainty

Energy Technology Data Exchange (ETDEWEB)

Abadie, L. M. [Bilbao Bizkaia Kutxa, Gran Via 30, 48009 Bilbao (Spain)

2009-07-01

This paper aims to contribute to the development of valuation models for long-term investments while keeping an eye on market prices. The adopted methodology is rooted on the existence of markets for futures and options on commodities related to energy investments. These markets are getting ever-increasingly liquid with ever-longer maturities while trading contracts. We discuss the advantages of this approach relative to other alternatives such as the Net Present Value (NPV) or the Internal Rate of Return (IRR), despite a limited increase in the complexity of the models involved. More specifically, using the valuation methods well-known to energy-finance academics, the paper shows how to: break down an investment into its constituent parts, apply to each of them the corresponding risk premium, value annuities on assets with a deterministic or stochastic behavior, and value the options that are available to its owner, in order to get an overall value of the investment project. It also includes an application to improvement in coal consumption, where futures markets are used to get a numerical estimate of the parameters that are required for valuation. The results are then compared with those from traditional methodologies. Conclusions for this type of investments under uncertainty are derived. (author)

Valuation of Long-Term Investments in Energy Assets under Uncertainty

Directory of Open Access Journals (Sweden)

Luis M. Abadie

2009-09-01

Full Text Available This paper aims to contribute to the development of valuation models for long-term investments while keeping an eye on market prices. The adopted methodology is rooted on the existence of markets for futures and options on commodities related to energy investments. These markets are getting ever-increasingly liquid with ever-longer maturities while trading contracts. We discuss the advantages of this approach relative to other alternatives such as the Net Present Value (NPV or the Internal Rate of Return (IRR, despite a limited increase in the complexity of the models involved. More specifically, using the valuation methods well-known to energy-finance academics, the paper shows how to: break down an investment into its constituent parts, apply to each of them the corresponding risk premium, value annuities on assets with a deterministic or stochastic behavior, and value the options that are available to its owner, in order to get an overall value of the investment project. It also includes an application to improvement in coal consumption, where futures markets are used to get a numerical estimate of the parameters that are required for valuation. The results are then compared with those from traditional methodologies. Conclusions for this type of investments under uncertainty are derived.

Valuation of long-term investments in energy assets under uncertainty

International Nuclear Information System (INIS)

Abadie, L. M.

2009-01-01

This paper aims to contribute to the development of valuation models for long-term investments while keeping an eye on market prices. The adopted methodology is rooted on the existence of markets for futures and options on commodities related to energy investments. These markets are getting ever-increasingly liquid with ever-longer maturities while trading contracts. We discuss the advantages of this approach relative to other alternatives such as the Net Present Value (NPV) or the Internal Rate of Return (IRR), despite a limited increase in the complexity of the models involved. More specifically, using the valuation methods well-known to energy-finance academics, the paper shows how to: break down an investment into its constituent parts, apply to each of them the corresponding risk premium, value annuities on assets with a deterministic or stochastic behavior, and value the options that are available to its owner, in order to get an overall value of the investment project. It also includes an application to improvement in coal consumption, where futures markets are used to get a numerical estimate of the parameters that are required for valuation. The results are then compared with those from traditional methodologies. Conclusions for this type of investments under uncertainty are derived. (author)

Sådan kan du bruge optioner og futures

DEFF Research Database (Denmark)

Kohl, Niklas

2017-01-01

Masterclass. Har du brug for at forsikre værdierne i din portefølje i en periode, hvor du forventer stor uro på finansmarkederne, kan du gøre det med optioner eller futures. Her kan du læse om de forskellige typer – og om de muligheder de giver dig.......Masterclass. Har du brug for at forsikre værdierne i din portefølje i en periode, hvor du forventer stor uro på finansmarkederne, kan du gøre det med optioner eller futures. Her kan du læse om de forskellige typer – og om de muligheder de giver dig....

Evolutionary Naturalism and the Logical Structure of Valuation: The Other Side of Error Theory

Directory of Open Access Journals (Sweden)

Richard A Richards

2006-01-01

Full Text Available On one standard philosophical position adopted by evolutionary naturalists, human ethical systems are nothing more than evolutionary adaptations that facilitate social behavior. Belief in an absolute moral foundation is therefore in error. But evolutionary naturalism, by its commitment to the basic valutional concept of fitness, reveals another, logical error: standard conceptions of value in terms of simple predication and properties are mistaken. Valuation has instead, a relational structure that makes reference to respects, subjects and environments. This relational nature is illustrated by the analogy commonly drawn between value and color. Color perception, as recognized by the ecological concept, is relational and dependent on subject and environment. In a similar way, value is relational and dependent on subject and environment. This makes value subjective, but also objective in that it is grounded on facts about mattering. At bottom, values are complex relational facts. The view presented here, unlike other prominent relational and naturalistic conceptions of value, recognizes the full range of valuation in nature. The advantages of this relational conception are first, that it gets valuation right; second, it provides a framework to better explain and understand valuation in all its varieties and patterns.

Evolutionary Naturalism and the Logical Structure of Valuation: The Other Side of Error Theory

Directory of Open Access Journals (Sweden)

Richard A Richards

2005-01-01

Full Text Available On one standard philosophical position adopted by evolutionary naturalists, human ethical systems are nothing more than evolutionary adaptations that facilitate social behavior. Belief in an absolute moral foundation is therefore in error. But evolutionary naturalism, by its commitment to the basic valutional concept of fitness, reveals another, logical error: standard conceptions of value in terms of simple predication and properties are mistaken. Valuation has instead, a relational structure that makes reference to respects, subjects and environments. This relational nature is illustrated by the analogy commonly drawn between value and color. Color perception, as recognized by the ecological concept, is relational and dependent on subject and environment. In a similar way, value is relational and dependent on subject and environment. This makes value subjective, but also objective in that it is grounded on facts about mattering. At bottom, values are complex relational facts. The view presented here, unlike other prominent relational and naturalistic conceptions of value, recognizes the full range of valuation in nature. The advantages of this relational conception are first, that it gets valuation right; second, it provides a framework to better explain and understand valuation in all its varieties and patterns.

Paysans du Brésil

Directory of Open Access Journals (Sweden)

Dominique Temple

2007-01-01

Full Text Available Eric Sabourin, « Paysans du Brésil : Entre échange marchand et réciprocité » Paris, Editions Quae, 241p, 30 euros, (préface de Maxime Haubert, 2007Dans la présentation du livre, Maxime Haubert dit :«Cet ouvrage propose une analyse socio-anthropologique et agronomique des sociétés rurales et paysannes du Brésil et des transformations qu'elles ont connues ces dernières décennies, en particulier face aux interventions de l'Etat et à l'expansion du marché capitaliste (.... «Le livre pose d'abor...

Évaluation du risque de dysglycémie dans la région de Kitikmeot (Nunavut au moyen de l'outil CANRISK

Directory of Open Access Journals (Sweden)

Ying Jiang

2017-01-01

Full Text Available Introduction : L'Agence de la santé publique du Canada a adapté un outil finlandais de dépistage du diabète (FINDRISC dans le but de créer un outil, CANRISK, conçu sur mesure pour la population multiethnique du Canada. Cet outil a été élaboré à partir de données recueillies dans sept provinces canadiennes. Dans le but d'élargir son applicabilité aux populations des territoires nordiques, nous avons réalisé une étude auprès de la population majoritairement inuite de la région de Kitikmeot (Nunavut. Méthodologie : Nous avons recueilli des questionnaires CANRISK, des mesures physiques et des échantillons de sang auprès de participants vivant dans cinq collectivités de la région de Kitikmeot. Nous avons utilisé une régression logistique pour évaluer l'ajustement du modèle à l'aide des facteurs de risque de l'outil CANRISK d'origine associés à la dysglycémie (prédiabète et diabète. La dysglycémie a été évaluée au moyen d'un test de glycémie plasmatique à jeun (GPJ administré seul ou avec une épreuve d'hyperglycémie provoquée par voie orale. Nous avons mis au point les scores CANRISK des participants pour tester le fonctionnement de cet outil au sein d'une population inuite. Résultats : Au total, 303 personnes ont participé à l'étude. La moitié d'entre elles avaient moins de 45 ans, les deux tiers étaient des femmes et 84 % étaient inuites. Sur les 303 participants, 18 % étaient atteints de prédiabète et 4 % avaient un diabète non diagnostiqué. La probabilité de présenter un état dysglycémique augmentait de façon exponentielle avec l'âge et la relation avec l'indice de masse corporelle (IMC suivait une courbe en U. Par rapport aux résultats d'analyse en laboratoire, l'outil CANRISK avec un seuil de 32 points a présenté une sensibilité de 61 %, une spécificité de 66 %, une valeur prédictive positive de 34 % et un taux d'exactitude de 65 %. Conclusion : L'outil CANRISK a permis de d

Communication du Service juridique et du Département HR à l'attention des membres du personnel domiciliés en France

CERN Multimedia

HR Department

2007-01-01

Déclaration de revenus 2006 Les membres du personnel trouveront ci-après les informations nécessaires sur la manière de remplir la déclaration de revenus 2006, qui doit être retournée au plus tard le 31 mai 2007. Qui doit remplir la déclaration? Comment l'obtenir? Tous les membres du personnel1) domiciliés en France2), qu'ils soient ou non de nationalité française, doivent remplir la déclaration de revenus 2006 sur la base des présentes instructions et la renvoyer signée, au plus tard le 31 mai 2007, au centre des impôts de leur domicile. Les membres du personnel devraient recevoir la déclaration de revenus 2006 fin avril - début mai. Ceux qui ne la recevraient pas directement devront la retirer au centre des impôts, à la trésorerie ou à la mairie de leur domicile ou bien encore la télécharger sur le site internet du Ministère des Finances (www.finances.gouv.fr). Comment remplir la déclaration Les membres du personnel doivent remplir la DECLARATION PAPIER uniquement. Dé...

Trousse de suivi et d'évaluation destinée aux initiatives d'adaptation ...

International Development Research Centre (IDRC) Digital Library (Canada)

En Afrique, bon nombre de pays, de régions et d'organismes se dotent de programmes d'adaptation aux changements climatiques. Pour que ces programmes portent leurs fruits, ils devront régulièrement faire l'objet d'un suivi et d'une évaluation. Cette subvention servira à financer l'intégration d'un volet suivi et évaluation ...

The Coca-Cola Company : equity valuation

OpenAIRE

Santos, André Escoval dos

2015-01-01

The present dissertation aims to demonstrate the process of valuing The Coca-Cola Company (KO). Valuation is not an exact science, requiring numerous assumptions and different models to be trusted. Several theories and articles from prestigious authors were followed aiming to deliver the best possible result. There is not a consensus among authors about which method yields best results, however Discounted Cash Flow is considered the finest by most of them. Therefore, KO will...

26 CFR 25.2512-6 - Valuation of certain life insurance and annuity contracts; valuation of shares in an open-end...

Science.gov (United States)

2010-04-01

... annuity. The value of the gift is the cost of the contract. Example (2). An annuitant purchased from a... Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) ESTATE AND GIFT TAXES GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 Transfers § 25.2512-6 Valuation of certain life insurance and annuity...

26 CFR 1.471-2 - Valuation of inventories.

Science.gov (United States)

2010-04-01

...-2 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Inventories § 1.471-2 Valuation of inventories. (a) Section 471 provides two tests...-5.) Any goods in an inventory which are unsalable at normal prices or unusable in the normal way...

Option Valuation with Conditional Heteroskedasticity and Non-Normality

DEFF Research Database (Denmark)

Christoffersen, Peter; Elkamhi, Redouane; Feunou, Bruno

the option smirk. We analyze a class of equivalent martingale measures for which the resulting risk-neutral return dynamics are from the same family of distributions as the physical return dynamics. In this case, our framework nests the valuation results obtained by Duan (1995) and Heston and Nandi (2000...

7 CFR 3015.53 - Valuation of donated services.

Science.gov (United States)

2010-01-01

... for volunteer services should be consistent with those regular rates paid for similar work in the same....53 Valuation of donated services. (a) Volunteer services. Unpaid services provided to a recipient by an individual shall be valued at rates consistent with the rates normally paid for similar work in...

Preference uncertainty in nonmarket valuation: a fuzzy approach

NARCIS (Netherlands)

Kooten, van G.C.; Krcmar, E.; Bulte, E.H.

2001-01-01

In this article, we consider uncertain preferences for non-market goods, but we move away from a probabilistic representation of uncertainty and propose the use of fuzzy contingent valuation. We assume that a decision maker never fully knows her own utility function and we treat utility as a fuzzy

Geographical proximity on the valuations of unlisted agrarian companies: Does distance from company to company and to strategic points matter?

Energy Technology Data Exchange (ETDEWEB)

Occhino, P.; Maté, M.

2017-07-01

This paper is a first attempt to examine the role played by the geography on agrarian firms’ valuations. The geography was evaluated through the physical proximity from agrarian companies to other companies and to some strategic points which ease their accessibility to external economic agents. To get our purpose, we developed an empirical application on a sample of non-listed agrarian Spanish companies located in the region of Murcia over the period 2010-2015. We applied Discount Cash Flow methodology for non-listed companies to get their valuations. With this information, we used spatial econometric techniques to analyse the spatial distribution of agrarian firms’ valuations and model the behavior of this variable. Our results supported the assertion that agrarian firms’ valuations are conditioned by the geography. We found that firms with similar valuations tend to be grouped together in the territory. In addition, we found significant effects on agrarian firms valuations derived from the geographical proximity among closer agrarian companies and from them to external agents and transport facilities.

Geographical proximity on the valuations of unlisted agrarian companies: Does distance from company to company and to strategic points matter?

International Nuclear Information System (INIS)

Occhino, P.; Maté, M.

2017-01-01

This paper is a first attempt to examine the role played by the geography on agrarian firms’ valuations. The geography was evaluated through the physical proximity from agrarian companies to other companies and to some strategic points which ease their accessibility to external economic agents. To get our purpose, we developed an empirical application on a sample of non-listed agrarian Spanish companies located in the region of Murcia over the period 2010-2015. We applied Discount Cash Flow methodology for non-listed companies to get their valuations. With this information, we used spatial econometric techniques to analyse the spatial distribution of agrarian firms’ valuations and model the behavior of this variable. Our results supported the assertion that agrarian firms’ valuations are conditioned by the geography. We found that firms with similar valuations tend to be grouped together in the territory. In addition, we found significant effects on agrarian firms valuations derived from the geographical proximity among closer agrarian companies and from them to external agents and transport facilities.

AN INITIAL DESIGN OF ISO 19152:2012 LADM BASED VALUATION AND TAXATION DATA MODEL

DEFF Research Database (Denmark)

Cagdas, Volkan; Kara, A.; van Oosterom, P.

2016-01-01

standard that defines the semantics of fiscal databases. The ISO 19152:2012 Land Administration Domain Model (LADM), as an international land administration standard focuses on legal requirements, but considers out of scope specifications of external information systems including valuation and taxation...... databases. However, it provides a formalism which allows for an extension that responds to the fiscal requirements. This paper introduces an initial version of a LADM – Fiscal Extension Module for the specification of databases used in immovable property valuation and taxation. The extension module....... It is expected that the initial version will be refined through further activities held by a possible joint working group under FIG Commission 7 (Cadastre and Land Management) and FIG Commission 9 (Valuation and the Management of Real Estate) in collaboration with other relevant international bodies....

Role Performance and Role Valuation Among Occupational Therapy Students in Norway

Directory of Open Access Journals (Sweden)

Tore Bonsaksen

2016-01-01

Full Text Available Background: The Model of Human Occupation describes roles as providing the person with a framework around which to organize daily occupations. Role performance and role valuation in young adults may be related to gender, but there are few research studies to date to support this view. Methods: This study is a cross-sectional design using a sample of 87 occupational therapy students in Norway. We used the Role Checklist to assess the students’ performance and valuation of roles, and a variety of statistical procedures were employed in the analysis. Results: Compared to the female participants, males performed roles in the community, social, and civic life area of participation more frequently. Otherwise, male and female participants were largely equal in current role performance. For most roles, we found associations between role performance and high valuation of the respective roles. Discussion: Gender appears to be a factor of relevance for our understanding of role performance. This study suggests that occupational therapists should consider the societal as well as the personal aspects of roles. In addition, occupational therapy interventions could aim toward improving congruence between the roles clients perform and the value these roles have for them

Rational Multi-curve Models with Counterparty-risk Valuation Adjustments

DEFF Research Database (Denmark)

Crépey, Stéphane; Macrina, Andrea; Nguyen, Tuyet Mai

2016-01-01

We develop a multi-curve term structure set-up in which the modelling ingredients are expressed by rational functionals of Markov processes. We calibrate to London Interbank Offer Rate swaptions data and show that a rational two-factor log-normal multi-curve model is sufficient to match market da...... with regulatory obligations. In order to compute counterparty-risk valuation adjustments, such as credit valuation adjustment, we show how default intensity processes with rational form can be derived. We flesh out our study by applying the results to a basis swap contract....... with accuracy. We elucidate the relationship between the models developed and calibrated under a risk-neutral measure Q and their consistent equivalence class under the real-world probability measure P. The consistent P-pricing models are applied to compute the risk exposures which may be required to comply...

Reconnaissance de caractères : évaluation des performances

OpenAIRE

Belaïd , Abdel; Cecotti , Hubert

2006-01-01

National audience; La numérisation de documents est une étape importante dans la mise en place d'un système de gestion électronique de documents (GED). Le choix de la solution de numérisation doit prendre en compte toutes les étapes de traitement des documents depuis l'acquisition, la conversion du contenu (texte et structure) jusqu'à la correction et la mise en exploitation du document final. Le but de cette numérisation est une utilisation du contenu converti, par exemple pour effectuer une...

Theoretical and practical analysis of the conceptions of asset valuation by methods of historical cost and fair value

OpenAIRE

Paliulienė, Lina

2012-01-01

The article analyzes the asset valuation methods of historical cost and fair value, which both are applied in accounting theory and practice. Advantages and shortcomings of both methods are revealed herein. The opinions of different authors on which method of asset valuation should be chosen by the enterprises are analyzed. Main aim of asset valuation at historical cost is to evaluate the asset by including any main expenses related to purchase and manufacturing of such asset. Fair value may ...

Mergers & Acquisitions in the Food Business: How did the 2002 and 2008/2009 Economic Crises Impact Corporate Valuation?

Directory of Open Access Journals (Sweden)

Francis Declerck

2016-07-01

The EV/EBITDA provides results with smaller spread than EV/ Sales and EV/net profit. The present research shows that valuations of dairy companies are quite close to the average valuations in the food business. But valuations of wines and spirits companies are a lot higher than other food business companies. Transaction market multiples at food subsector level provide more accurate tools to the stakeholders of M&A in order to avoid over-payment and financial distress.

Real options and asset valuation in competitive energy markets

Science.gov (United States)

Oduntan, Adekunle Richard

The focus of this work is to develop a robust valuation framework for physical power assets operating in competitive markets such as peaking or mid-merit thermal power plants and baseload power plants. The goal is to develop a modeling framework that can be adapted to different energy assets with different types of operating flexibilities and technical constraints and which can be employed for various purposes such as capital budgeting, business planning, risk management and strategic bidding planning among others. The valuation framework must also be able to capture the reality of power market rules and opportunities, as well as technical constraints of different assets. The modeling framework developed conceptualizes operating flexibilities of power assets as "switching options' whereby the asset operator decides at every decision point whether to switch from one operating mode to another mutually exclusive mode, within the limits of the equipment constraints of the asset. As a current decision to switch operating modes may affect future operating flexibilities of the asset and hence cash flows, a dynamic optimization framework is employed. The developed framework accounts for the uncertain nature of key value drivers by representing them with appropriate stochastic processes. Specifically, the framework developed conceptualizes the operation of a power asset as a multi-stage decision making problem where the operator has to make a decision at every stage to alter operating mode given currently available information about key value drivers. The problem is then solved dynamically by decomposing it into a series of two-stage sub-problems according to Bellman's optimality principle. The solution algorithm employed is the Least Squares Monte Carlo (LSM) method. The developed valuation framework was adapted for a gas-fired thermal power plant, a peaking hydroelectric power plant and a baseload power plant. This work built on previously published real options valuation

Variable capacity utilization, ambient temperature shocks and generation asset valuation

Energy Technology Data Exchange (ETDEWEB)

Tseng, Chung-Li; Dmitriev, Alexandre [Australian School of Business, University of New South Wales, Sydney NSW 2052 (Australia); Zhu, Wei [Optim Energy, 225 E. John Carpenter Freeway, Irving, TX 75062 (United States)

2009-11-15

This paper discusses generation asset valuation in a framework where capital utilization decisions are endogenous. We use real options approach for valuation of natural gas fueled turbines. Capital utilization choices that we explore include turning on/off the unit, operating the unit at increased firing temperatures (overfiring), and conducting preventive maintenance. Overfiring provides capacity enhancement which comes at the expense of reduced maintenance interval and increased costs of part replacement. We consider the costs and benefits of overfiring in attempt to maximize the asset value by optimally exercising the overfire option. In addition to stochastic processes governing prices, we incorporate an exogenous productivity shock: ambient temperature. We consider how variation in ambient temperature affects the asset value through its effect on gas turbine's productivity. (author)

26 Calcul multi-caractéristique du coût du non-qualité via la fonction ...

African Journals Online (AJOL)

PR BOKO

Le coût du non - qualité (CNQ) est un indicateur permettant l'estimation de la marge ..... multicritères de Taguchi en fonction de l'évolution du poids et capacité du ... A Scheduling Example; International Journal of Information and Management.

[Crisis in the valuation, emotional labor and occupational burnout among teachers of religion].

Science.gov (United States)

Lachowska, Bogusława; Starczewski, Karol

2015-01-01

This article presents an analysis of the relationship between the crisis of values and in the valuation, the strategy of emotional labor, and occupational burnout in the group of lay teachers of religion. In addition, the role of emotional labor as a mediator of the relationship between the crisis of values and burnout was analyzed. Three strategies of emotional labor were considered in the study: surface acting, deep acting, and expression of naturally felt emotions. The study was conducted in a group of 169 lay teachers of religion (males - 24%, females - 76%), using the Questionnaire for Investigating Crisis in Valuation developed by Oleś, the Maslach Burnout Inventory, and the Emotional Labour Scale developed by Diefendorff, Croyle and Gosserand. The crisis of values and in the valuation is an important factor responsible for occupational burnout in the group of lay teachers of religion. Surface acting and expression of naturally felt emotions mediate the relationship between crisis in the valuation and emotional exhaustion, depersonalization and lack of personal accomplishment. Surface acting increases, while the expression of naturally felt emotions decreases occupational burnout. Deep acting is not related with occupational burnout. It is justified to seek factors favoring the expression of naturally felt emotions, and also those reducing surface acting. This work is available in Open Access model and licensed under a CC BY-NC 3.0 PL license.

Cartes infographiques du Symposium Afrique de l'Ouest et du Centre

International Development Research Centre (IDRC) Digital Library (Canada)

fdieudonne

VILLES SÛRES ET INCLUSIVES | AFRIQUE DE L'OUEST ET DU CENTRE. Spécificités de violence, d'exclusion, et de lutte contre la criminalité. République démocratique du Congo: Taux de natalité par femme, en moyenne 10 enfants, très élevé. Exclusion sociale exacerbée : des jeunes enfants accusés de sorcellerie.

In search of the "lost capital". A theory for valuation, investment decisions, performance measurement

OpenAIRE

Magni, Carlo Alberto

2007-01-01

This paper presents a theoretical framework for valuation, investment decisions, and performance measurement based on a nonstandard theory of residual income. It is derived from the notion of "unrecovered" capital, which is here named "lost" capital because it represents the capital foregone by the investors. Its theoretical strength and meaningfulness is shown by deriving it from four main perspectives: financial, microeconomic, axiomatic, accounting. Implications for asset valuation, cap...

: tous les projets | Page 195 | CRDI - Centre de recherches pour le ...

International Development Research Centre (IDRC) Digital Library (Canada)

Programme: Food, Environment, and Health. Financement total : CA$ 2,411,000.00. Changements climatiques, vulnérabilité et santé en Colombie et en Bolivie. Projet. Selon le quatrième rapport d'évaluation du Groupe d'experts intergouvernemental sur l'évolution du climat, les changements climatiques modifient les ...

Transfert de responsabilités (2009) | CRDI - Centre de recherches ...

International Development Research Centre (IDRC) Digital Library (Canada)

25 avr. 2016 ... ... des principes directeurs susceptibles d'orienter les pratiques en matière de transfert de responsabilité. Évaluation du transfert de la responsabilité des secrétariats internationaux du Centre de recherches pour le développement international par Jim Armstrong et Alexa Khan The Governance Network ...

Embalse nuclear power plant and heavy water valuation

International Nuclear Information System (INIS)

Martin, Daniel E.

2008-01-01

The author describes the nuclear power plant characteristics, the building work, the heavy water valuation criteria and the reasons why he considers that any capital good can be valued by the cash-flow method. The Embalse nuclear power plant replacement value is of U$S 1.593.538.000. (author) [es

Environmental Economics for Watershed Restoration: Valuation for Non-Economists

Science.gov (United States)

EPA economists completed research projects and summarized related valuation methods and case studies, mostly dealing with acid mine drainage. Their recent book (edited by Thurston, et al.) is intended to make stakeholders more comfortable talking about economic jargon and to info...

Monetary valuation of environmental goods, services and impacts: variability of monetary values. Seminar proceedings of December 10, 2014

International Nuclear Information System (INIS)

Bonnet, Xavier; Ben Maid, Atika; Calvet, Melanie; Darses, Ophelie; Devaux, Jeremy; Simon, Olivier; Gatier, Alexis; Wittmann, Anne-laure; Bonnet, Xavier; Bonroy, Olivier; Ceci-Renaud, Nila; Tarayoun, Tedjani; Mercadie, Corinne; Adam, Gabrielle; Perrissin Fabert, Baptiste; Combet, Emmanuel; Casset, Loic; Meunier, David; Le Maitre, Helene; Brunel, Julien; Rotillon, Gilles

2015-06-01

Within the General Commission for Sustainable Development, the Service for Economics, Assessment and Integration of Sustainable Development is in charge of developing and promoting the economic valuation of policies, regulations, environmental goods and services, related to biodiversity, natural assets and environmental amenities. On December 10, 2014, it held the fifth annual seminar on monetary valuation of environmental goods, services and impacts. The first four editions respectively were devoted to economic valuation methods of environmental goods and services, implementations of these methods, uses of monetary values and methodological innovations; the 2014 seminar addressed the variability of monetary values. The ten presentations of the seminar explored the different values resulting from monetary valuation methods: what do they mean? What do they measure? Why are they relevant to integrate environmental valuation in the various economic sectors? From both a theoretical and practical point of view, theses questions were addressed by considering three main topics: the integration of environmental value in market prices, the different meanings of carbon values and the temporal variability of values used in assessment of investment projects in the transport sector. Those conferences are aimed for experts and practitioners of monetary valuation techniques as well as for users of the values produced. They provide a place to gather and facilitate dialogue between representatives from universities, government agencies and private sector involved in these issues. (authors)

THE ROLE OF EARNINGS PERSISTENCE IN VALUATION ACCURACY AND THE TIME HORIZON

Directory of Open Access Journals (Sweden)

Renê Coppe Pimentel

2016-02-01

Full Text Available Based on the assumption that earnings persistence has implications for both financial analysis and compensation contracts, the aim of this paper is to investigate the role of earnings persistence assuming that (i more persistent earnings are likely to be a better input to valuation models and (ii more persistent earnings are likely to serve as a proxy for long-term market and managerial orientation. The analysis is based on Brazilian listed firms from 1995 to 2013, and while we document strong support for the relevance of earnings persistence in financial analysis and valuation, we fail to document a significant relationship between earnings persistence and long-term value orientation. These results are sensitive to different specifications, and additional results suggest that firms’ idiosyncratic risk (total risk is relevant to explain the focus on short-term outcomes (short-termism across firms. The main contribution of this paper is to offer empirical evidence for the relevance of accounting numbers in both valuation and contractual theories in an emergent market.

Protéger les collectivités côtières du nord du Maroc | CRDI - Centre ...

International Development Research Centre (IDRC) Digital Library (Canada)

3 févr. 2011 ... Élévation du niveau de la mer, ondes de tempête, inondations littorales : les ... Un plan d'action en matière de gestion intégrée du littoral et une nouvelle ... du territoire sans recourir à un guide de la dynamique du milieu côtier. ... local, et encore moins de contrôle sur les terres dont elles sont tributaires.

Consistent Valuation across Curves Using Pricing Kernels

Directory of Open Access Journals (Sweden)

Andrea Macrina

2018-03-01

Full Text Available The general problem of asset pricing when the discount rate differs from the rate at which an asset’s cash flows accrue is considered. A pricing kernel framework is used to model an economy that is segmented into distinct markets, each identified by a yield curve having its own market, credit and liquidity risk characteristics. The proposed framework precludes arbitrage within each market, while the definition of a curve-conversion factor process links all markets in a consistent arbitrage-free manner. A pricing formula is then derived, referred to as the across-curve pricing formula, which enables consistent valuation and hedging of financial instruments across curves (and markets. As a natural application, a consistent multi-curve framework is formulated for emerging and developed inter-bank swap markets, which highlights an important dual feature of the curve-conversion factor process. Given this multi-curve framework, existing multi-curve approaches based on HJM and rational pricing kernel models are recovered, reviewed and generalised and single-curve models extended. In another application, inflation-linked, currency-based and fixed-income hybrid securities are shown to be consistently valued using the across-curve valuation method.

Prospect theory in the valuation of health.

Science.gov (United States)

Moffett, Maurice L; Suarez-Almazor, Maria E

2005-08-01

Prospect theory is the prominent nonexpected utility theory in the estimation of health state preference scores for quality-adjusted life year calculation. Until recently, the theory was not considered to be developed to the point of implementation in economic analysis. This review focuses on the research and evidence that tests the implementation of prospect theory into health state valuation. The typical application of expected utility theory assumes that a decision maker has stable preferences under conditions of risk and uncertainty. Under prospect theory, preferences are dependent on whether the decision maker regards the outcome of a choice as a gain or loss, relative to a reference point. The conceptual preference for standard gamble utilities in the valuation of health states has led to the development of elicitation techniques. Empirical evidence using these techniques indicates that when individual preferences are elicited, a prospect theory consistent framework appears to be necessary for adequate representation of individual health utilities. The relevance of prospect theory to policy making and resource allocation remains to be established. Societal preferences may not need the same attitudes towards risks as individual preferences, and may remain largely risk neutral.

Susan Magoffin’s Santa Fe Days in 1846: The Value of Testimony Les journées de Santa Fé en 1846 de Susan Magoffin : la valeur du témoignage

Directory of Open Access Journals (Sweden)

Susanne Berthier-Foglar

2009-11-01

Full Text Available Susan Magoffin, la jeune épouse d’un commerçant de la piste de Santa Fe, accompagna son mari en 1846 pour un voyage où la caravane suivait de près l’Armée de l’Ouest et pendant lequel elle tint un journal. Cet article traite des 37 jours que dura la pause de la caravane à Santa Fe et aborde plus spécifiquement la façon dont l’auteur appréhendait l’altérité dans un environnement inhabituel et parfois dangereux. Pour apprécier la valeur du témoignage, je combine une analyse du discours avec une évaluation statistique du contenu. La description, parfois naïve, de Santa Fe sous l’occupation américaine illustre les raisons de la guerre contre le Mexique. En tant qu’agent de la destinée manifeste, Susan Magoffin admirait le général Kearny en lui attribuant des qualités surhumaines et en participant à ses efforts de propagande. Alors qu’elle était enracinée dans sa classe et sa culture, elle voyait la population mexicaine et les Amérindiens avec un esprit ouvert bien que ses motifs pour apprendre l’espagnol, ainsi que le métier de commerçante, avaient une fonction plus prosaïque.

The improved business valuation model for RFID company based on the community mining method.

Science.gov (United States)

Li, Shugang; Yu, Zhaoxu

2017-01-01

Nowadays, the appetite for the investment and mergers and acquisitions (M&A) activity in RFID companies is growing rapidly. Although the huge number of papers have addressed the topic of business valuation models based on statistical methods or neural network methods, only a few are dedicated to constructing a general framework for business valuation that improves the performance with network graph (NG) and the corresponding community mining (CM) method. In this study, an NG based business valuation model is proposed, where real options approach (ROA) integrating CM method is designed to predict the company's net profit as well as estimate the company value. Three improvements are made in the proposed valuation model: Firstly, our model figures out the credibility of the node belonging to each community and clusters the network according to the evolutionary Bayesian method. Secondly, the improved bacterial foraging optimization algorithm (IBFOA) is adopted to calculate the optimized Bayesian posterior probability function. Finally, in IBFOA, bi-objective method is used to assess the accuracy of prediction, and these two objectives are combined into one objective function using a new Pareto boundary method. The proposed method returns lower forecasting error than 10 well-known forecasting models on 3 different time interval valuing tasks for the real-life simulation of RFID companies.

An Initial Design of ISO 19152:2012 LADM Based Valuation and Taxation Data Model

Science.gov (United States)

Çağdaş, V.; Kara, A.; van Oosterom, P.; Lemmen, C.; Işıkdağ, Ü.; Kathmann, R.; Stubkjær, E.

2016-10-01

A fiscal registry or database is supposed to record geometric, legal, physical, economic, and environmental characteristics in relation to property units, which are subject to immovable property valuation and taxation. Apart from procedural standards, there is no internationally accepted data standard that defines the semantics of fiscal databases. The ISO 19152:2012 Land Administration Domain Model (LADM), as an international land administration standard focuses on legal requirements, but considers out of scope specifications of external information systems including valuation and taxation databases. However, it provides a formalism which allows for an extension that responds to the fiscal requirements. This paper introduces an initial version of a LADM - Fiscal Extension Module for the specification of databases used in immovable property valuation and taxation. The extension module is designed to facilitate all stages of immovable property taxation, namely the identification of properties and taxpayers, assessment of properties through single or mass appraisal procedures, automatic generation of sales statistics, and the management of tax collection, dealing with arrears and appeals. It is expected that the initial version will be refined through further activities held by a possible joint working group under FIG Commission 7 (Cadastre and Land Management) and FIG Commission 9 (Valuation and the Management of Real Estate) in collaboration with other relevant international bodies.

Valuation of agrifood SMEs. Lessons to be learnt from the stock market

Directory of Open Access Journals (Sweden)

Raül Vidal

2018-02-01

Full Text Available The European agrifood industry is mostly characterized by small and medium enterprises (SMEs; as in 2013, SMEs represented 99.13% of the total number of companies. The valuation of SMEs not listed in any stock market is a complex task since there is not enough information on comparable transactions. When applying discounted cash flow (DCF models to value private agrifood companies, the capital structure and the cost of equity are two key parameters to be determined. The implications of these parameters in the value of the enterprise are not clear inasmuch as it is not possible to carry out a contrast due, precisely, to the lack of comparables. The main goal of this study is to determine the biases that those two parameters can introduce into the valuation process of an agrifood company. We have used the stock market as a framework wherein to apply a simple fundamental model to the companies of the European food industry in order to obtain three valuation multiples. By means of two bootstrap approaches, the bias induced in the multiples has been assessed for every year from 2002-2013. Results show that the use of the return on equity as cost of equity tends to undervaluation; the use of capital asset pricing model (CAPM tends to a slight overvaluation, whereas using the total beta induces an undervaluation bias. Moreover, the capital structure shows little influence on the valuation multiples. The conclusions drawn from this paper can be useful for managers and shareholders of privately-held agrifood companies.

Valuation of agrifood SMEs. Lessons to be learnt from the stock market

Energy Technology Data Exchange (ETDEWEB)

Vidal, R.; Ribal, J.

2017-07-01

The European agrifood industry is mostly characterized by small and medium enterprises (SMEs); as in 2013, SMEs represented 99.13% of the total number of companies. The valuation of SMEs not listed in any stock market is a complex task since there is not enough information on comparable transactions. When applying discounted cash flow (DCF) models to value private agrifood companies, the capital structure and the cost of equity are two key parameters to be determined. The implications of these parameters in the value of the enterprise are not clear inasmuch as it is not possible to carry out a contrast due, precisely, to the lack of comparables. The main goal of this study is to determine the biases that those two parameters can introduce into the valuation process of an agrifood company. We have used the stock market as a framework wherein to apply a simple fundamental model to the companies of the European food industry in order to obtain three valuation multiples. By means of two bootstrap approaches, the bias induced in the multiples has been assessed for every year from 2002-2013. Results show that the use of the return on equity as cost of equity tends to undervaluation; the use of capital asset pricing model (CAPM) tends to a slight overvaluation, whereas using the total beta induces an undervaluation bias. Moreover, the capital structure shows little influence on the valuation multiples. The conclusions drawn from this paper can be useful for managers and shareholders of privately-held agrifood companies.

Valuation of agrifood SMEs. Lessons to be learnt from the stock market

International Nuclear Information System (INIS)

Vidal, R.; Ribal, J.

2017-01-01

The European agrifood industry is mostly characterized by small and medium enterprises (SMEs); as in 2013, SMEs represented 99.13% of the total number of companies. The valuation of SMEs not listed in any stock market is a complex task since there is not enough information on comparable transactions. When applying discounted cash flow (DCF) models to value private agrifood companies, the capital structure and the cost of equity are two key parameters to be determined. The implications of these parameters in the value of the enterprise are not clear inasmuch as it is not possible to carry out a contrast due, precisely, to the lack of comparables. The main goal of this study is to determine the biases that those two parameters can introduce into the valuation process of an agrifood company. We have used the stock market as a framework wherein to apply a simple fundamental model to the companies of the European food industry in order to obtain three valuation multiples. By means of two bootstrap approaches, the bias induced in the multiples has been assessed for every year from 2002-2013. Results show that the use of the return on equity as cost of equity tends to undervaluation; the use of capital asset pricing model (CAPM) tends to a slight overvaluation, whereas using the total beta induces an undervaluation bias. Moreover, the capital structure shows little influence on the valuation multiples. The conclusions drawn from this paper can be useful for managers and shareholders of privately-held agrifood companies.

Les enjeux liés à l’intégration de l’approche BIM de modélisation des données du bâtiment à l’enseignement universitaire : cas d’une école d’ingénierie

Directory of Open Access Journals (Sweden)

Conrad Boton

2017-01-01

Full Text Available Le succès grandissant de l’approche de modélisation des données du bâtiment (BIM change le paradigme de fonctionnement de l’industrie de la construction et les universités sont confrontées à des défis importants dans leurs efforts pour introduire l’approche BIM dans l’enseignement. Plusieurs travaux ont étudié la question, mais chaque étude en a abordé des aspects spécifiques. Ainsi, il n’existe pas de cadre global fournissant des lignes directrices pratiques et neutres. Le cadre proposé dans cet article établit sept grands défis : les compétences à acquérir, l’approche pédagogique, les méthodes d’évaluation, l’environnement technologique, les partenariats industriels, l’approche de mise en œuvre et le calendrier. L’étude du cas d’une université d’ingénierie canadienne est également proposée.

26 CFR 1.642(c)-6T - Valuation of a remainder interest in property transferred to a pooled income fund (temporary).

Science.gov (United States)

2010-04-01

... 26 Internal Revenue 8 2010-04-01 2010-04-01 false Valuation of a remainder interest in property..., Trusts, and Beneficiaries § 1.642(c)-6T Valuation of a remainder interest in property transferred to a...) through (c). (d) Valuation. The present value of the remainder interest in property transferred to a...

Effets du travail du sol sur le comportement chimique et biologique ...

African Journals Online (AJOL)

SARAH

31 juil. 2017 ... RESUME. Objectif : L'objectif de cette étude est de comparer les effets de six techniques culturales de mise en place du blé tendre sur certaines propriétés chimiques et biologiques du sol et les conséquences sur le rendement grain et ses composantes dans la région «non chernozem» en 7ème années ...

Investigating the use of Automated Valuation Models (AVMs) in the ...

African Journals Online (AJOL)

construction of AVMs, and a better terminology includes data- analysis methods ... property valuations, as in many other industries, has transformed business operations. ... starts by providing an AVM and comparable transactions. The valuer ...

26 CFR 25.2512-3 - Valuation of interest in businesses.

Science.gov (United States)

2010-04-01

... AND GIFT TAXES GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 Transfers § 25.2512-3 Valuation of... with the return, including copies of reports of examinations of the business made by accountants...

The valuation of health care intangible assets.

Science.gov (United States)

Reilly, R F; Rabe, J R

1997-01-01

Health care entities (and especially medical practices) are valued for a number of reasons: sale transaction pricing and structuring, merger formation and dissolution, taxation and regulatory compliance, and litigation support and dispute resolution. The identification and quantification of the entity's intangible assets are often the most important aspects of the valuation. This article illustrates the generally accepted methods for valuing health care-related intangible assets.

A comparative analysis of ecosystem services valuation approaches for application at the local scale and in data scarce regions

OpenAIRE

Pandeya, B.; Buytaert, W.; Zulkafli, Z.; Karpouzoglou, T.; Mao, F.; Hannah, D.M.

2016-01-01

Despite significant advances in the development of the ecosystem services concept across the science and policy arenas, the valuation of ecosystem services to guide sustainable development remains challenging, especially at a local scale and in data scarce regions. In this paper, we review and compare major past and current valuation approaches and discuss their key strengths and weaknesses for guiding policy decisions. To deal with the complexity of methods used in different valuation approa...

Coordonnateur du bureau d'assistance | CRDI - Centre de ...

International Development Research Centre (IDRC) Digital Library (Canada)

Résumé des fonctions. En tant que membre de l'équipe du Bureau d'assistance au sein de la Section du service à la clientèle (SSC), le coordonnateur du Bureau d'assistance offre au personnel du Centre et aux autres utilisateurs reconnus des installations TI du Centre un soutien de première ligne en matière d'utilisation ...

Lettre ouverte au Président du Conseil du CERN

CERN Document Server

Association du personnel

2010-01-01

Genève, le 1er février 2010 Monsieur le Président, Les membres de la Caisse de pensions, actifs et pensionnés, sont à la fois très inquiets et indignés par la manière avec laquelle le Conseil traite la question, devenue alarmante, de l’équilibre de la Caisse. Dès 2004 en effet, l’étude actuarielle avait alerté le Conseil au sujet du déficit technique du régime et de l’insuffisance du financement de son plan de prestations. Le Conseil s’est alors contenté de mettre en place un mécanisme de sous indexation des pensions – arbitraire et discriminatoire dans la mesure où il ne fait appel qu’à la solidarité des pensionnés – et de décider une augmentation minime des contributions à la Caisse, une mesurette ...

: tous les projets | Page 436 | CRDI - Centre de recherches pour le ...

International Development Research Centre (IDRC) Digital Library (Canada)

Tout -, Développement, Économie, Environnement, Évaluation, Alimentation et agriculture ... Les auteurs du Rapport arabe sur le développement humain 2005 mettent en évidence un ... à savoir l'abondance de capital humain féminin qualifié dans la région du Moyen-Orient et de ... Programme: Emploi et croissance.

A Short Integrated Presentation of Valuation, Profitability and Growth Analysis

DEFF Research Database (Denmark)

Pettersson, Kim; Sørensen, Ole

2016-01-01

We demonstrate how the valuation models used in finance theory and the profitability and growth analysis taught in financial statement analysis are related. Traditional textbooks on finance and financial statement analysis are often very comprehensive, comprising a vast number of chapters. However......, the learning cost associated to this seems to be that many students are unable to understand either the interrelations between the chapters in a financial statement analysis textbook, or the origins of financial information (i.e., financial statements) in applied finance. Thus, the underlying motivation...... of this teaching note is to highlight the purpose of profitability and growth analysis in financial statement analysis by incorporating the point of value relevance in applied finance. We hope this reduced presentation of valuation and profitability and growth analysis will help students to understand...

Ved du, hvad der er i dine varer, når du handler?

DEFF Research Database (Denmark)

Phillip, Anja; Smith, Viktor

2016-01-01

I supermarkedet på vej hjem køber du ind til madpakken. Ved kølemontren med pålæg ser du en pakke Gårdlykke Hønsesalat. ... Måske vælger du den uden at tænke nærmere over hvorfor, eller fordi emballagen og navnet får hønsesalaten til at fremstå lokal, hjemmelavet eller økologisk. ... Alt dette ba...... bakkes op af resultaterne fra årelang forskning på CBS, hvor universitetets forskergruppe Fair-Speak har undersøgt emballagernes måde at påvirke forbrugerne til at købe produktet....

Étude de la qualité des eaux usées des deux retenues du bassin du ...

African Journals Online (AJOL)

SARAH

31 mai 2017 ... Gourou au carrefour de l'Indénié à Abidjan en 2012. 11138. Journal of Applied .... retenues sont nées du projet de gestion intégrée du bassin du Gourou (CI-FAD, ..... Contrôle de la qualité microbiologique des eaux usées ...

[Risk Assessment of Heavy Metal Contamination in Farmland Soil in Du'an Autonomous County of Guangxi Zhuang Autonomous Region, China].

Science.gov (United States)

Wu, Yang; Yang, Jun; Zhou, Xiao-yong; Lei, Mei; Gao, Ding; Qiao, Peng-wei; Du, Guo-dong

2015-08-01

For a comprehensive understanding of the pollution characteristics and ecological risk of heavy metals of farmland soil in Du'an Autonomous County of Guangxi Zhuang Autonomous Region, China, this study evaluated the cadmium (Cd), arsenic (As), nickel (Ni), zinc (Zn), chromium (Cr), antimony (Sb), copper (Cu) and lead ( Pb) pollution situation using the single factor index, the Nemerow pollution index and the Hakanson ecological risk index. The results showed that heavy-metal pollution of farmland soil in Du'an County was serious. 74.6% of the soil samples had heavy metals concentrations higher than the Grade II of National Soil Environmental Quality Standard (GB 15618-1995). The over standard rates of Cd, As, Ni, Zn, Cr, Sb, Cu, Pb were 70.6%, 42.9%, 34.9%, 19.8%, 19.6%, 2.94%, 1.59%, 0.79%, respectively. Cd and As were the main contaminants in Du'an County, the pollution was far more serious than those of the national and Guangxi Zhuang Autonomous Region. In terms of the ecological risk, heavy metals of farmland soil in Du'an County showed a "middle" ecological risk, with Cd accounting for 88% of the total ecological risk. The north-west of Jiudu Town and the zone between Bao'an Town and Dongmiao Town were two areas with high ecological risk in Du'an County. The contamination of farmland soils in Du'an County was caused by two main sources, whereas the pollution of As and Sb of farmland soils near Diaojiang River was mainly caused by the upstream mining industry.

Spatial scales, stakeholders and the valuation of ecosystem services

NARCIS (Netherlands)

Hein, L.G.; Koppen, van C.S.A.; Groot, de R.S.; Ierland, van E.C.

2006-01-01

Since the late 1960s, the valuation of ecosystem services has received ample attention in scientific literature. However, to date, there has been relatively little elaboration of the various spatial and temporal scales at which ecosystem services are supplied. This paper analyzes the spatial scales

fibrosarcome du larynx

African Journals Online (AJOL)

pie du lit tumoral est employée comme complément thé- rapeutique [9] alors que la chimiothérapie est générale- ment indiquée dans les formes métastatiques. Le pronos- tic dépend essentiellement du degré de différentiation his- tologique. En fait, le fibrosarcome bien différencié est caractérisé par la fréquence de récidive ...

L’autoévaluation du stress au travail : un indicateur de santé trompeur Self-assessment of stress in the workplace: a misleading health indicator La auto-evaluación del estrés en el trabajo : un indicador engañoso de salud

Directory of Open Access Journals (Sweden)

Michel Vézina

2010-05-01

Full Text Available L’objectif de l’étude est de documenter les liens entre certaines contraintes psychosociales du travail et certains problèmes de santé mentale, et ce, à partir des données pour le Québec du cycle 1.2 de l’Enquête sur la santé dans les collectivités canadiennes. Les résultats indiquent une augmentation significative du faible soutien social entre 2002 et 2005 qui passe de 45 % à 49 %, alors que le nombre de personnes se disant stressées au travail s’est amélioré de façon significative entre 2000-01 et 2005, passant de 42 % à 38 %. De plus, la faible autonomie de compétence est associée à moins de stress au travail, alors que cette dimension est reconnue pathogène pour la santé mentale. L’autoévaluation du stress au travail apparaît donc comme un indicateur de santé trompeur, puisqu’il n’évalue pas les dimensions reconnues pathogènes pour la santé mentale.The purpose of this study is to document the relationships between some psychosocial constraints in the workplace and some mental health problems based on data for Québec from Cycle 1.2 of the Canadian Community Health Survey. From 2002 to 2005, results indicate a significant increase in weak social support from 45% to 49%, while for the same period, the number of persons indicating being stressed at work decreased significantly, dropping from 42% to 38%. However, while less autonomy in the workplace is associated with less stress at work, this dimension is also recognized as pathogenic for mental health. Therefore, self-assessment of stress in the workplace appears to be a misleading health indicator, since it fails to assess dimensions recognized as pathogenic for mental health.El objetivo de este estudio es documentar los lazos entre ciertas exigencias psicosociales del trabajo y ciertos problemas de salud mental, a partir de datos para Québec del ciclo 1.2 de la Encuesta sobre la salud en las colectividades canadienses. Los resultados indican un

Self-assessment of stress in the workplace: a misleading health indicator L’autoévaluation du stress au travail : un indicateur de santé trompeur La auto-evaluación del estrés en el trabajo : un indicador engañoso de salud

Directory of Open Access Journals (Sweden)

Michel Vézina

2010-05-01

Full Text Available The purpose of this study is to document the relationships between some psychosocial constraints in the workplace and some mental health problems based on data for Québec from Cycle 1.2 of the Canadian Community Health Survey. From 2002 to 2005, results indicate a significant increase in weak social support from 45% to 49%, while for the same period, the number of persons indicating being stressed at work decreased significantly, dropping from 42% to 38%. However, while less autonomy in the workplace is associated with less stress at work, this dimension is also recognized as pathogenic for mental health. Therefore, self-assessment of stress in the workplace appears to be a misleading health indicator, since it fails to assess dimensions recognized as pathogenic for mental health.L’objectif de l’étude est de documenter les liens entre certaines contraintes psychosociales du travail et certains problèmes de santé mentale, et ce, à partir des données pour le Québec du cycle 1.2 de l’Enquête sur la santé dans les collectivités canadiennes. Les résultats indiquent une augmentation significative du faible soutien social entre 2002 et 2005 qui passe de 45 % à 49 %, alors que le nombre de personnes se disant stressées au travail s’est amélioré de façon significative entre 2000-01 et 2005, passant de 42 % à 38 %. De plus, la faible autonomie de compétence est associée à moins de stress au travail, alors que cette dimension est reconnue pathogène pour la santé mentale. L’autoévaluation du stress au travail apparaît donc comme un indicateur de santé trompeur, puisqu’il n’évalue pas les dimensions reconnues pathogènes pour la santé mentale.El objetivo de este estudio es documentar los lazos entre ciertas exigencias psicosociales del trabajo y ciertos problemas de salud mental, a partir de datos para Québec del ciclo 1.2 de la Encuesta sobre la salud en las colectividades canadienses. Los resultados indican un

Au fil du temps (1976 ou la loi du seuil

Directory of Open Access Journals (Sweden)

Isabelle Singer

2010-04-01

Full Text Available Ayant choisi de vivre dans un camion, les héros d’Au fil du temps (film de Wim Wenders de 1976 font du seuil une expérience particulière. Celle de la rupture avec toute idée de foyer et celle du refus d’appartenance à la terre natale, cette terre allemande traversée par une frontière le long de laquelle ils vont voyager, et qui les renvoie à chaque instant aux traumatismes de l’Histoire. Sur le pare-brise du camion, l’extérieur (campagnes indifférenciées, villes à l’abandon… et l’intérieur se superposent. Au fil du temps questionne le paysage : il s’agit d’en décoller un à un les mythes qui le recouvrent. L’image alors n’est plus surface mais volume à traverser, à lacérer et découvrir ce qui est tissé dans le paysage. La démarche de Wenders est alors proche de celle d’un de ses contemporains : Anselm Kiefer. Le paysage allemand provoque le rejet parce qu’il y a là toujours plus que le visible : des strates et des strates de culpabilité que le mythe - et c’est sa fonction - a recouvert. Et qu’il s’agira ici, de soulever. Le choix du nomadisme, c’est celui d’un état de l’humanité antérieur à l’idée de patrie. Et c’est aussi celui de la solitude, comme prix à payer à ce refus d’appartenance et à cette mise à jour des mythes. L’appartenance à la terre allemande et à son Histoire est profondément problématique parce que les pères sont fondamentalement coupables. On se reconnaîtra alors des pères de substitution : des pères de cinéma (Nicholas Ray ou Fritz Lang. Et l’on substituera l’Histoire du cinéma à l’Histoire. Bruno est réparateur ambulant de projecteurs et Au fil du temps dressera, au gré de ses pérégrinations, un état des lieux du cinéma allemand des années soixante-dix : déliquescent, colonisé par les images hollywoodiennes. Il faut que cela change : état du cinéma ; état des protagonistes solitaires en quête d’une identit

Hausse du niveau des océans et perte de terres dans le delta du Nil ...

International Development Research Centre (IDRC) Digital Library (Canada)

9 juin 2016 ... Au moyen de systèmes d'information géographique (SIG), des chercheurs subventionnés par le CRDI ont déterminé les zones littorales du delta du Nil qui pourraient être touchées par la hausse du niveau des océans. Il pourrait en résulter d'importantes pertes de terres d'ici 2100. Selon les plus récentes ...

A Hybrid Approach to the Valuation of RFID/MEMS technology applied to ordnance inventory

OpenAIRE

Doerr, Kenneth H.; Gates, William R.; Mutty, John E.

2006-01-01

We report on an analysis of the costs and benefits of fielding Radio Frequency Identification / MicroElectroMechanical System (RFID /MEMS) technology for the management of ordnance inventory. A factorial model of these benefits is proposed. Our valuation approach combines a multi-criteria tool for the valuation of qualitative factors with a monte-carlo simulation of anticipated financial factors. In a sample survey, qualitative factors are shown to account of over half of the anticipated bene...

Les mots du jazz

OpenAIRE

Roueff, Olivier

2007-01-01

L’ouvrage d’André Schaeffner constitue la première analyse savante du jazz (1926). Il a marqué une étape importante dans le processus de réinvention du jazz en France en contribuant notamment, par sa réception et les polémiques qu’il a suscitées, à transformer l’identification du jazz d’une musique « américaine » à une musique « noire-américaine » (c’est-à-dire aux « racines » africaines). Les analyses proposées dans cet ouvrage, alors qu’elles désignaient des musiques que la critique de jazz...

23 octobre 2012 - Le Président du Conseil général de la Haute-Savoie C. Monteil signe le livre d'or en présence du Directeur général R. Heuer, la chef des Relations Internationales F. Pauss, le chef du département Physique P. Bloch et le chef du département Technologie F. Bordry; visite du hall de test des aimants supraconducteurs du LHC avec F. Bordry.

CERN Multimedia

Maximilien Brice

2012-01-01

23 octobre 2012 - Le Président du Conseil général de la Haute-Savoie C. Monteil signe le livre d'or en présence du Directeur général R. Heuer, la chef des Relations Internationales F. Pauss, le chef du département Physique P. Bloch et le chef du département Technologie F. Bordry; visite du hall de test des aimants supraconducteurs du LHC avec F. Bordry.

Les outils du CERN

CERN Multimedia

1999-01-01

C'est le plus grand centre mondial de recherche en physique des particules. Les outils du Laboratoire, accélérateurs et détecteurs de particules, figurent parmi les instruments scientifiques les plus complexes au monde. Des prix Nobels ont d'ailleurs été attribués aux physiciens du CERN pour leurs développements.

South of Sahara | Page 98 | IDRC - International Development ...

International Development Research Centre (IDRC) Digital Library (Canada)

South of Sahara. Sud du Sahara. Read more about Évaluation de l'activité entrepreneuriale dans la région MOAN. Language French. Read more about Abolition du paiement direct des services de santé en Afrique de l'Ouest. Language French. Read more about Abolition of Direct Payment for Health Services in West ...

31 CFR 223.9 - Valuation of assets and liabilities.

Science.gov (United States)

2010-07-01

... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Valuation of assets and liabilities. 223.9 Section 223.9 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY FINANCIAL MANAGEMENT SERVICE SURETY COMPANIES DOING BUSINESS...

Les trois traditions du foie gras dans la gastronomie française Foie Gras as represented by three traditional protagonists in French gastronomy

Directory of Open Access Journals (Sweden)

Élise Mognard

2011-05-01

Full Text Available La promulgation du foie gras comme patrimoine gastronomique et culturel français en janvier 2006, nous invite à questionner le processus de patrimonialisation du foie gras en France. La patrimonialisation est habituellement étudiée dans les interactions entre les acteurs des filières courte et longue. Des travaux récents invitent à renouveler cette approche en ajoutant les professionnels des métiers de bouche à l’analyse et à en inscrire l’étude dans la longue durée. Les trajectoires sur le long terme de trois catégories d’acteurs sont ici retracées par l’étude des traditions et des métiers de bouche, industrielle et fermière. Cette analyse fait notamment ressortir des relations entre chefs cuisiniers et industriels et la mobilisation de la cuisine du gras dans l’offre agritouristique. Ces aspects confirment l’intérêt d’envisager l’analyse des patrimonialisations en passant du système binaire des acteurs de la production (filières courtes et longues à un système ternaire des acteurs de la valorisation (industriels, producteurs fermiers et professionnels des métiers de bouche.In January 2006, the production of foie gras was declared «patrimoine gastronomique et culturel français » (French gastronomic and cultural heritage. But how has foie gras become food heritage in France? Foie gras as food heritage is usually analyzed through interactions between the actors of the food-processing industry and farming networks. Recent works re-use this approach in a long-term perspective, adding the professionals of catering trade to the analysis. Long-term trajectories of three categories of actors are described here through the study of catering trade, food-processing industry and farmer traditions. This analysis brings out the relations between chefs and industrialists and the implication of the cuisine du gras in the agrotourism experience. It confirms the interest in renewing the analyses of food heritage

Cultural valuation and biodiversity conservation in the Upper Guinea forest, West Africa

Directory of Open Access Journals (Sweden)

James A. Fraser

2016-09-01

Full Text Available The cultural valuation of biodiversity has taken on renewed importance over the last two decades as the ecosystem services framework has become widely adopted. Conservation initiatives increasingly use ecosystem service frameworks to render tropical forest landscapes and their peoples legible to market-oriented initiatives such as REDD+ and biodiversity offsetting schemes. Ecosystem service approaches have been widely criticized by scholars in the social sciences and humanities for their narrow focus on a small number of easily quantifiable and marketable services and a reductionist and sometimes simplistic approach to culture. We address the need to combine methods from each of the "three cultures" of natural science, quantitative social science, and qualitative social science/humanities in conceptualizing the relationship between cultural valuation and biodiversity conservation. We combine qualitative data with forest inventories and a quantitative index of cultural value to evaluate the relationship between cultural valuation and biodiversity conservation in Upper Guinea forest in Liberia, West Africa. Our study focuses on "sacred agroforests," spaces that are associated with Mande macro-language speaking groups such as the Loma. We demonstrate that sacred agroforests are associated with different cultural values compared with secondary forests. Although biodiversity and biomass are similar, sacred agroforests exhibit a different species composition, especially of culturally salient species, increasing overall landscape agro-biodiversity. Sacred agroforests are also shaped and conserved by local cultural institutions revolving around ancestor worship, ritual, and the metaphysical conceptual category "salɛ." We conclude that to understand the relationship between cultural valuation and biodiversity conservation, interpretivist approaches such as phenomenology should be employed alongside positivist ecosystem service frameworks.

L’écriture du temps dans Robinson Crusoe

OpenAIRE

Bulckaen, Denise

2018-01-01

“Le récit est une séquence deux fois temporelle... il y a le temps de la chose-racontée et le temps du récit (temps du signifié et temps du signifiant)”. Cette citation se trouve au début du chapitre que Genette consacre à “Ordre” dans Figures III. Elle s'applique à de nombreux romans, mais elle est particulièrement intéressante quand on considère le roman de forme autobiographique. Le décalage entre “le temps du signifié” et “le temps du signifiant” est plus ou moins grand selon les romans. ...

Établissements recevant du public

CERN Document Server

2014-01-01

Synthèse pour les installations électriques, des règles de sécurité contre les risques d’incendie et de panique dans les établissements recevant du public (ERP), selon l’arrêté du 25 juin 1980 modifié. L'ouvrage traite à la fois des dispositions communes aux établissements du 1er groupe (1ère à 4ème catégorie), du 2ème groupe (5ème catégorie) et des règles particulières applicables aux différents types d'établissements (structures d'accueil pour personnes âgées ou handicapées, hôtels, magasins de vente, restaurants et débit de boisson, établissements de soins, administration, châpiteaux, etc...) Sont ainsi notamment traités, dans le cadre des dispositions communes aux établissements du 1er groupe, pour les installations électriques normales : les installations des appareils, tableaux et canalisations, les locaux électriques et installation de machines, l'éclairage normal des locaux accessibles au public, le chauffage et la ventilation, l'installation d'eau chaude sanita...

THE FARMLAND VALUATION REVISITED

Directory of Open Access Journals (Sweden)

Xin Li

2016-04-01

Full Text Available Empirical research is scarce concerning the dynamics of farmland markets which inspire the decision to sell farmlands. This paper explores the real option to postpone the sale of land in farmland valuation. In this article, a real options approach is used to analyze farmland prices behavior using historical cash flow and land price information for Illinois. In general, rising farmland values are primarily dependent on agricultural commodity prices and interest rates. Results suggest that uncertainty about future growth and capital gains is a significant component of farmland market value. Furthermore, this research examines several shift factors of the option value of the state’s farmland by taking into account of uncertainty to improve the analysis of farmland market values.

du Chott Marouane

African Journals Online (AJOL)

plancton de 90 µm de vide de maille. Ils ont été conservés dans du formol à 5%. L'identification de l'espèce est basée sur des critères morphologiques [20]: la forme des furcas, les lobes frontaux des antennes des mâles, de l'organe copulateur (pénis) et du sac ovigère. Le comptage des soies furcales a été réalisé. L'étude ...

Dealing with Operating Leases in Valuation

OpenAIRE

Aswath Damodaran

1999-01-01

Most firm valuation models start with the after-tax operating income as a measure of the operating income on a firm and reduce it by the reinvestment rate to arrive at the free cash flow to the firm. Implicitly, we assume that the operating expenses do not include any financing expenses (such as interest expense on debt). While this assumption, for the most part, is true, there is a significant exception. When a firm leases an asset, the accounting treatment of the expense depends upon whethe...

GARCH Option Valuation: Theory and Evidence

DEFF Research Database (Denmark)

Christoffersen, Peter; Jacobs, Kris; Ornthanalai, Chayawat

We survey the theory and empirical evidence on GARCH option valuation models. Our treatment includes the range of functional forms available for the volatility dynamic, multifactor models, nonnormal shock distributions as well as style of pricing kernels typically used. Various strategies...... for empirical implementation are laid out and we also discuss the links between GARCH and stochastic volatility models. In the appendix we provide Matlab computer code for option pricing via Monte Carlo simulation for nonaffine models as well as Fourier inversion for affine models....

Reconsidering the use of rankings in the valuation of health states: a model for estimating cardinal values from ordinal data

Directory of Open Access Journals (Sweden)

Salomon Joshua A

2003-12-01

Full Text Available Abstract Background In survey studies on health-state valuations, ordinal ranking exercises often are used as precursors to other elicitation methods such as the time trade-off (TTO or standard gamble, but the ranking data have not been used in deriving cardinal valuations. This study reconsiders the role of ordinal ranks in valuing health and introduces a new approach to estimate interval-scaled valuations based on aggregate ranking data. Methods Analyses were undertaken on data from a previously published general population survey study in the United Kingdom that included rankings and TTO values for hypothetical states described using the EQ-5D classification system. The EQ-5D includes five domains (mobility, self-care, usual activities, pain/discomfort and anxiety/depression with three possible levels on each. Rank data were analysed using a random utility model, operationalized through conditional logit regression. In the statistical model, probabilities of observed rankings were related to the latent utilities of different health states, modeled as a linear function of EQ-5D domain scores, as in previously reported EQ-5D valuation functions. Predicted valuations based on the conditional logit model were compared to observed TTO values for the 42 states in the study and to predictions based on a model estimated directly from the TTO values. Models were evaluated using the intraclass correlation coefficient (ICC between predictions and mean observations, and the root mean squared error of predictions at the individual level. Results Agreement between predicted valuations from the rank model and observed TTO values was very high, with an ICC of 0.97, only marginally lower than for predictions based on the model estimated directly from TTO values (ICC = 0.99. Individual-level errors were also comparable in the two models, with root mean squared errors of 0.503 and 0.496 for the rank-based and TTO-based predictions, respectively. Conclusions

OGM : vers une définition commune du contenu du problème ?

Directory of Open Access Journals (Sweden)

Icart Jean-Claude

2001-07-01

Full Text Available Les divergences croissantes depuis des années entre experts, responsables économiques, et acteurs sociaux et « citoyens » au sujet des OGM, ont pu être analysées à juste titre, comme exprimant la difficulté de dégager une « définition commune du contenu du problème »1.

L’Association du personnel (AP) en réunion du Directorat élargi (ED) !

CERN Multimedia

Staff Association

2017-01-01

Le 3 avril dernier, la Vice-Présidente et le Président de l’Association du personnel ont présenté en réunion du Directorat élargi (Directeurs et Chefs de départements et d’unités) le plan des activités de l’Association du personnel pour 2017 et ont fait part des préoccupations de l’AP. Cinq sujets ont été abordés en commençant par la mise en œuvre des décisions prises dans le cadre de l’examen quinquennal de 2015. Examen quinquennal – suivi (voir Echo n° 257) 2016 – Principales mises en œuvre De nombreux changements ont déjà été mis en place en 2016 : Révision des Statut et Règlement du personnel en janvier 2016, pour les aspects de diversité, et en septembre 2016, pour la ...