Dissertations / Theses on the topic 'The price determined'
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Dittrichová, Zuzana. "Vlivy působící na cenu stavebních pozemků." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2017. http://www.nusl.cz/ntk/nusl-318581.
Full textPokorná, Denisa. "Posouzení vlivů ÚP na cenu pozemků v městské části Brně – Soběšicích." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2019. http://www.nusl.cz/ntk/nusl-402603.
Full textMartináková, Veronika. "Vlivy působící na cenu stavebních pozemků v Uherském Hradišti a Starém Městě." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2019. http://www.nusl.cz/ntk/nusl-402588.
Full textBrym, Jan Václav. "Posouzení vlivu územního plánování na cenu pozemků ve vybrané lokalitě v okrese Žďár nad Sázavou." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2014. http://www.nusl.cz/ntk/nusl-232890.
Full textYlinen, Linnea, and Aldina Dervic. "What determines housing prices? : Characteristic´s impact on prices using hedonic price model." Thesis, Mälardalens högskola, Akademin för ekonomi, samhälle och teknik, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:mdh:diva-43736.
Full textSlavík, Jan. "Posouzení vlivu územního plánování na cenu pozemků." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2017. http://www.nusl.cz/ntk/nusl-367509.
Full textKvapil, Radek. "Posouzení vlivu územního plánování na ceny pozemků ve Vysokém Mýtě." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2016. http://www.nusl.cz/ntk/nusl-232860.
Full textFilipová, Veronika. "Analýza vlivu rekonstrukce na výši obvyklé ceny rodinných domů v Hodslavicích." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2016. http://www.nusl.cz/ntk/nusl-241263.
Full textGlogarová, Tereza. "Posouzení vlivu územního plánování na cenu pozemků v Bernarticích nad Odrou." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2015. http://www.nusl.cz/ntk/nusl-233182.
Full textHanák, Michal. "Znalecká činnost při vyvlastňovacím řízení." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2013. http://www.nusl.cz/ntk/nusl-232836.
Full textBalarinová, Pavla. "Posouzení vlivu územního plánování na ceny pozemků ve městě Žďár nad Sázavou a jeho okolí." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2015. http://www.nusl.cz/ntk/nusl-233102.
Full textJurčová, Anna. "Posouzení vlivů ÚP na cenu pozemků v Otrokovicích a Napajedlích." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2019. http://www.nusl.cz/ntk/nusl-399605.
Full textPérez, Isaac Borràs. "Spanish pharmacies valuation: what determines their price-to-sales ratio?" reponame:Repositório Institucional do FGV, 2016. http://hdl.handle.net/10438/17338.
Full textRejected by Ana Luiza Holme (ana.holme@fgv.br), reason: Dear Isaac, Your Thesis is complete different from the structure that should be. In the email that I send there is a model of thesis. Please follow the instructions that I send. All work must be done using the standards defined by ABNT or APA (American Psychology Association): http://bibliotecadigital.fgv.br/site/bkab/normalizacao. I wil send you again the model. Don't forget to ask for the Ficha catalográfica. Best. Ana Luiza Holme 37993492 on 2016-10-21T17:02:43Z (GMT)
Submitted by Isaac Borràs Pérez (isaac_8_93@hotmail.com) on 2016-10-24T11:48:47Z No. of bitstreams: 1 FGV ISAACBORRAS.DOCX: 645598 bytes, checksum: 192fc3b66be415c32c5670e8a15bbfb8 (MD5)
Rejected by Ana Luiza Holme (ana.holme@fgv.br), reason: Dear Isaac, First of all the file should be in PDF. You have to remove the word title above the title of your thesis, it shouldn't appear. In the second e third pages the words Fundação Getulio Vargas is in the page above, it should be below, check the model. The Ficha catalográfica is missing, if you go to the intructions that I send it's the first step. Also missing the resumo in portuguese and the acknowledgment, they are mandatory. The number os the pages are incorrect, it should count from the cover but only appear in the introduction. Best. Ana Luiza Holme 37993492 on 2016-10-24T12:22:00Z (GMT)
Submitted by Isaac Borràs Pérez (isaac_8_93@hotmail.com) on 2016-10-24T14:31:23Z No. of bitstreams: 1 FGV ISAACBORRAS.pdf: 2433820 bytes, checksum: e4820166b6848eb99075467428a741bd (MD5)
Rejected by Ana Luiza Holme (ana.holme@fgv.br), reason: Dear Isaac, It's still missing the ficha catalográfica, which you have to do the process I send you in the email with the instructions. Also missing the acknowledgment which is mandatory and before the resumo. best. Ana Luiza Holme 37993492 on 2016-10-24T15:02:14Z (GMT)
Submitted by Isaac Borràs Pérez (isaac_8_93@hotmail.com) on 2016-10-25T09:29:05Z No. of bitstreams: 1 SPANISH PHARMACIES VALUATION-ISAACBORRAS.pdf: 2428658 bytes, checksum: b33b8834078946481da03c8fe3d00348 (MD5)
Approved for entry into archive by Ana Luiza Holme (ana.holme@fgv.br) on 2016-10-25T11:37:00Z (GMT) No. of bitstreams: 1 SPANISH PHARMACIES VALUATION-ISAACBORRAS.pdf: 2428658 bytes, checksum: b33b8834078946481da03c8fe3d00348 (MD5)
Made available in DSpace on 2016-10-25T14:37:22Z (GMT). No. of bitstreams: 1 SPANISH PHARMACIES VALUATION-ISAACBORRAS.pdf: 2428658 bytes, checksum: b33b8834078946481da03c8fe3d00348 (MD5) Previous issue date: 2016-09-26
This paper explores the relationship between the regional macroeconomic, demographic and business specific factors with the 'price-to-sales ratio' multiple used when pricing a pharmacy in Spain. Past pharmacies market studies have focused their attention on qualitative and subjective aspects in order to determine the potential value of a pharmacy. Hedonic method using multiple regression analysis shows that even when there is an expansive period the national economy, the strongest relationship performs more on regional welfare and regulation elements, behaving aligned with the traditional market perception.
Este travalho explora a relação entre os fatores específicos da macroeconômica, demográfica e fatores comerciais regionais com o múltiplo 'rátio preço-vendas', usada quando se escolhem os preços de venda das farmácias em Espanha. Os últimos estudos de mercado das farmácias têm-se centrado a sua atenção sobre os aspectos qualitativos e subjetivos, a fim de determinar o valor potencial de uma farmácia. Método hedônico usando análise de regressão múltipla mostra que mesmo quando há um período expansivo da economia nacional, a relação mais forte realiza mais em elementos de bem-estar e de regulamentação regionais, comportando-se alinhada com a percepção tradicional mercado.
Lunsford, Terry L. "CHARACTERISTICS OF BEEF CATTLE THAT DETERMINE THE PRICE DIFFERENCE BETWEEN TRADITIONAL AND CPH SALES." UKnowledge, 2005. http://uknowledge.uky.edu/gradschool_theses/172.
Full textTennemar, Johan, and Erik Koponen. "Practical applicability of methods to determine the transfer price of intangibles." Thesis, Jönköping University, JIBS, Commercial Law, 2009. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-7680.
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This master’s thesis discusses and analyzes difficulties in transfer pricing methods’ applicability to intangibles. With basis from the OECD Transfer Pricing Guidelines and the U.S. regulations, this thesis investigates applicable methods in legislation, theory, recommendations, case law and how they are applied in practice.
The OECD Guidelines do not provide an exact solution to the valuation of a transfer of intangibles between controlled parties. It refers to the arm’s length principle to determine whether the price set for a transfer between controlled parties is the same, as unrelated parties would have paid, under the same circumstances.
The best method rule used in the U.S. has no preferred order of application although it provides specific methods to be applied to intangibles. In the U.S., as in most countries (and recommended by the OECD), the Comparable Uncontrolled Price/Comparable Uncontrolled Transaction methods are considered most reliable if comparables can be identified.
The profit split method is recommended if there are no comparable transactions available and is applicable to non-routine intangibles. Other methods that require comparables are however used in the application of the profit split method to set an arm’s length price on routine functions. This method will probably become more popular in the future since it is not as dependent on comparables as most other transfer pricing methods.
There are several other methods and approaches to the arm’s length principle, which shows the complexity of intangibles and the ambition to find some form of standard.
This master’s thesis has identified the problems with most of the methods applied to intangibles relying on comparables to some extent. The comparability factors concerning intangibles are a problem, as they are difficult to apply strictly and a frequent problem is the limited access to information. A majority of available agreements published in databases are strongly focused on U.S. based enterprises transactions and rarely disclose all the required details. As a result, the comparables used become less reliable since the geographical area, size of the enterprise and functions compared seldom are comparable with the tested party or transaction. In some industry sectors, it is almost impossible to find independent comparables, especially for non-routine intangibles.
The discrepancy between theory and practice is shown through the usage and acceptance by tax authorities and courts, of comparables without sufficient comparability. This simplified and practical approach to transfer pricing derives from the limited availability of information and the need to avoid unreasonable requirements on the MNEs to produce transfer pricing benchmarking in particular and documentation in general.
Denna magisteruppsats diskuterar och analyserar svårigheterna med internprissättningsmetoders tillämplighet på immateriella tillgångar. Med utgångspunkt från OECD:s riktlinjer och de amerikanska reglerna, undersöker denna uppsats lagstiftningen, teorin, rekommendationer och rättsfall rörande tillämpliga metoder och hur de tillämpas i praktiken.
OECD:s rekommendationer ger ingen direkt lösning på värderingen av transaktionen av immateriella tillgångar mellan parter i intressegemenskap. Den hänvisar till armlängdsprincipen för att avgöra huruvida priset på en transaktion mellan kontrollerade parter är samma som okontrollerade parter skulle ha betalat under samma omständigheter.
Best method rule som används i USA ger inget krav på i vilken ordning metoderna ska användas även om den omfattar särskilda metoder som skall tillämpas på immateriella tillgångar. I USA, liksom i de flesta länder (och rekommenderat av OECD), anses Comparable Uncontrolled Price/Comparable Uncontrolled Transaction metoderna vara de mest tillförlitliga om jämförbara transaktioner kan identifieras.
Profit split metoden rekommenderas om det inte finns några jämförbara transaktioner tillgängliga och kan användas på icke rutinmässiga immateriella tillgångar. Andra metoder som kräver jämförbara transaktioner används dock vid tillämpningen av profit split metoden för att bestämma ett armslängdsmässigt pris på rutinmässiga funktioner. Denna metod kommer troligen att bli mer populärt i framtiden eftersom den inte är lika beroende av jämförbara transaktioner som de flesta andra internprissättningsmetoder.
Det finns flera andra metoder och strategier för att bestämma ett armlängsmässigt pris vilket visar immateriella tillgångars komplexitet och ambitionen att hitta någon form av standard.
Denna magisteruppsats har påvisat problematiken med att de flesta metoder som tillämpas på immateriella tillgångar använder i viss utsträckning jämförbara transaktioner. Kompabilitetskraven på de jämförbara immateriella tillgångarna utgör ett problem eftersom de är svåra att tillämpa strikt och ett återkommande problem är den begränsade tillgången till information. En majoritet av de tillgängliga avtalen publiceras i databaser som är starkt fokuserad på amerikanska företags transaktioner och sällan ges alla nödvändiga uppgifter. Detta resulterar i sämre tillförlitlighet på de jämförbara transaktionerna, eftersom det geografiska området, storleken på företagen och dess funktioner sällan är jämförbara med de testade parterna eller transaktionerna. I vissa branscher är det näst intill omöjligt att hitta oberoende jämförbara transaktioner, särskilt för icke-rutinmässiga immateriella tillgångar.
Skillnaden mellan teori och praktik visas genom användandet, skattemyndigheters och domstolars accepterande, av transaktioner utan tillräcklig jämförbarhet. Detta förenklade och praktiska tillvägagångssätt beror på den begränsade tillgången på information och behovet av att undvika orimliga krav på multinationella företag att producera jämförbarhetsanalyser och dokumentation till internprissättningen
Fibich, Marek. "Vliv stavebních úprav na cenu polyfunkčního domu." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2014. http://www.nusl.cz/ntk/nusl-232881.
Full textAnderson, Tiffany Miranda. "Power to the People: Self-determined Identity in Black Pride and Chicano Movement Literature." The Ohio State University, 2012. http://rave.ohiolink.edu/etdc/view?acc_num=osu1343826432.
Full textŽaloudíková, Radka. "Analýza odchylek obvyklých cen od cen stanovených dle vyhlášky u rodinných domů v praxi." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2014. http://www.nusl.cz/ntk/nusl-232910.
Full textCheng, Ka Wan. "What determine the information shares in the price discovery process between the index futures and the underlying cash index?" HKBU Institutional Repository, 2008. http://repository.hkbu.edu.hk/etd_ra/883.
Full textČeňková, Lydie. "Analýza nejvyššího a nejlepšího využití objektu bývalé restaurace v Kroměříži." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2015. http://www.nusl.cz/ntk/nusl-233095.
Full textPasadilla, B. "An investigation into the factors that determine the price adjustment mechanism of the residential real estate market in Hong Kong." Thesis, Hong Kong : University of Hong Kong, 1996. http://sunzi.lib.hku.hk/hkuto/record.jsp?B25939671.
Full textSchwartz, Emily R., and Matthew Warner. "Price discovery in commercial mortgage backed securities : what factors determine pricing at origination and after origination in the CMBS market." Thesis, Massachusetts Institute of Technology, 2008. http://hdl.handle.net/1721.1/59497.
Full textIncludes bibliographical references (leaf 52).
The commercial mortgage-backed securities (CMBS) market has vastly evolved over the last decade, but it remains a very private and proprietary market in comparison to other bond markets such as corporate or municipal bonds. The formation of CMBS data source providers such as Trepp and Intex in recent years has added transparency to the market, but large gaps still remain in available information for CMBS investors, particularly in the secondary trading market. This thesis examines pricing of CMBS at origination, when it is sold by the issuer, and after origination, when it is traded in the secondary market. Using a sample of AAA rated CMBS this thesis seeks to determine which factors influence price at origination and after. This thesis is essentially split into two separate studies, one examining pricing at origination and the other pricing after origination. For both parts, regression analyses were performed on fifty AAA rated securities issued from June of 2001 to December of 2006. All deal level information was provided by Trepp, while JP Morgan Chase provided historical AAA rated CMBS market information as a comparison. Secondary pricing data, based on a proprietary pricing model was also provided by Trepp. A small sample of data from actual closed transactions in the secondary market was supplied by Morgan Stanley for comparison. The results of the first part of this thesis are very similar to previous works done on the topic and show that Debt Service Coverage Ratios, geographic concentration, and property type are all important factors in determining the initial price of a CMBS issuance. The results of the price at origination study show that investors preferred seasoned CMBS deals over new issues even though the fact that overall market spreads decreased during the studies time frame.
(cont.) This preference suggests that investors were more attracted to seasoned CMBS than they were to newer issuances. The second part of this thesis illustrated a similar inclination by investors to more seasoned CMBS in the secondary trading market. The authors conclude that variations do exist in the pricing of CMBS in the secondary trading market and that overall the market has significant enough transparency to incorporate different factors into investment decisions.
by Emily R. Schwartz & Matthew Warner.
S.M.in Real Estate Development
XAVIER, Nat??lia Magdaleno. "Evid??ncias de isomorfismo na forma????o do pre??o em empresas de micro e pequeno porte da regi??o do grande abc." FECAP, 2017. http://tede.fecap.br:8080/jspui/handle/jspui/771.
Full textMade available in DSpace on 2018-05-25T15:09:10Z (GMT). No. of bitstreams: 2 NAT??LIA MAGDALENO XAVIER.pdf: 1158119 bytes, checksum: 1d0477dc6d7720059cd5324db77e2905 (MD5) license_rdf: 0 bytes, checksum: d41d8cd98f00b204e9800998ecf8427e (MD5) Previous issue date: 2017-05-16
Managers are always looking for innovation for their companies, but are often pressured to behave in a certain way, on account of an existing law, an established standard or seeking acceptance / legitimation. In this paper, we sought to identify and analyze the formation of sales price with the managers and verify the isomorphism evidence in the practices adopted in micro and small businesses in the region of Grande ABC Paulista. Since sales price is a vital decision for businesses regardless of size, area of focus, location or age, as there are several factors that influence this process and some different methods can be used to define it. It is a descriptive and quali-quantitative research, whose data were collected in two stages. In the first stage, in-depth interviews were conducted with nine managers of these businesses. The content analysis to was applied to the interpretation of the findings, seeking subsidies for the sequence of the investigation. It was possible to perceive that there is no pattern in the pricing process among the interviewees. About 50% reported having a logical process, and other 50% more intuitive; all the managers participating in the interviews stated that they were attentive to the market reaction on their price, consider mainly the price of their competitors and its own cost structure, but assign diferente degrees of importance. After conducting the interviews, the 122 questionnaires have applied to managers of micro and small business in Grande ABC Paulista region. It was verified that researched managers are aware of the strategic importance of pricing strategic, and the most most used pricing method among micro and small business in Grande ABC Paulista region is mixed sales price method, and it was possible to verify that there is isomorphism evidence in this process, especially the mimetic mechanism, despite haven???t appear in a strong and explicit way.
Os gestores est??o sempre em busca de inova????o para suas empresas, mas muitas vezes s??o pressionados a se comportar de forma semelhante ??s outras empresas, por conta de uma lei, um padr??o estabelecido ou em busca de aceita????o/legitima????o. Neste trabalho, buscou-se identificar e analisar evid??ncias de isomorfismo nas pr??ticas de forma????o do pre??o de venda junto aos gestores de micro e pequenas empresas da regi??o do Grande ABC Paulista. Visto que pre??o de venda ?? uma decis??o vital para as empresas independente do porte, ??rea de atua????o, localiza????o ou idade, visto que h?? v??rios fatores que influenciam este processo, e m??todos diferentes podem ser usados para defini-lo. ?? uma investiga????o descritiva, qualitativa e quantitativa, cujos dados foram coletados em duas etapas. Na primeira etapa foram realizadas entrevistas em profundidade com nove gestores dessas empresas. Aplicou-se a an??lise de conte??do para interpreta????o dos achados, buscando subs??dios para a sequ??ncia da investiga????o. Constatou-se que n??o h?? um padr??o no processo de forma????o de pre??o de venda entre os entrevistados. Cerca de 50% afirmaram ter um processo l??gico, e os outros 50% mais intuitivo; todos os participantes das entrevistas declararam estar atentos ?? rea????o do mercado ao seu pre??o; consideram, principalmente, o pre??o dos seus concorrentes e a sua pr??pria estrutura de custos, mas atribuem graus de import??ncia diferentes. Ap??s a realiza????o das entrevistas foram aplicados 122 question??rios a gestores de micro e pequenas empresas da regi??o do Grande ABC Paulista. Constatou-se que os gestores pesquisados tem consci??ncia da import??ncia estrat??gica da decis??o de forma????o de pre??o, e que o m??todo de forma????o de pre??o de venda mais usado entre as micro e pequenas empresas da regi??o do Grande ABC Paulista ?? o misto, e foi poss??vel verificar que h?? evid??ncia de isomorfismo nesse processo, com destaque para o mecanismo mim??tico, apesar de n??o aparecer de maneira forte e expl??cita.
ANJOS, Wesley Silva dos. "Metodologia para precifica??o e determina??o do resultado da comercializa??o: forma??o do pre?o de venda." Universidade Federal Rural do Rio de Janeiro, 2004. https://tede.ufrrj.br/jspui/handle/tede/1023.
Full textThis work treats of the price in the commodities that are commercialize by small and middle companies, which the real object consists in the resell of these commodities. This kind of methodology allows seeing how is the economical results that came from the each unit which is commercialize. This theme is very important to companies success as same authors says like Porter (1990:469) and Catelli (2001:344). They affirm that the economics result is the best way to identify how are destined to resell, aren?t object of a consensus in the literary middle, and because of this the national?s literature is very shortage in the practical level. Basically the difference between these methodologies that are found in this application of rates and applications, as usual then definition of the local dates. Some authors like Assef (2003) in his book Practice manual of the formation in the sales price (2003), takes in consideration the application tax to being then taxes that incidents in the present sales value, already the KPMG Peat Marwick Dreyfuss?, which is expose in the book Course of Manager Accountancy ,CRC-SP, (1993), takes in consideration the discount taxes. The methodology that are proposal in this work, made use of 3 rates to can put a price where takes in consideration the application tax when the company has excess resorts and pick up tax when the company requires some resorts. The third tax is utilized to analysis the comparative of the economic viable of the rate title. Other difference found between these methodologies is the consideration of the focal date to take the taxes to the present value, where they considerate are the day of the invoice. The oscillation of the results with the found literature in relation to the proposal methodology is to 20%. The principal purpose of this work is to show that purpose methodology is most correct than the others methodologies that are found in the commerce and literary market. Considering the practice need of the mathematics, like a rational speech, and the best method the proposal methodology is more precise and is the best to adapt with the commerce reality inside the methodologies that are researched.
O trabalho trata da precifica??o de mercadorias comercializadas por empresas cujo objeto real consiste na revenda destas mercadorias. A metodologia proposta permite verificar o resultado econ?mico de cada item comercializado. O tema precifica??o ? de suma import?ncia para o sucesso das empresas conforme os autores Porter (1990:469) e Catelli (2001:344). Os autores alegam que o resultado econ?mico ? o melhor indicador de efic?cia empresarial. Por?m, o c?lculo do resultado da venda e da precifica??o de mercadorias destinadas a revenda n?o ? objeto de consenso no meio liter?rio, sendo escassa a literatura nacional que dela trata no modo pr?tico. Basicamente a diferen?a entre as metodologias encontradas esta na aplica??o de taxas de juros e taxas de aplica??o bem como defini??o de datas focais. Alguns autores como Assef em seu livro Manual pr?tico e Forma??o de Pre?o de Venda ,(2003) leva em considera??o a taxa de aplica??o para trazer as taxas incidentes na venda a valor presente, j? a metodologia da KPMG Peat Marwick Dreyfuss, exposto no livro Curso de Contabilidade Gerencial do Conselho Regional de Contabilidade de S?o Paulo (1993:100) leva em considera??o a taxa de desconto (capta??o). A metodologia proposta neste trabalho, utiliza-se de 3 taxas de juros para poder precificar onde leva em considera??o a taxa de aplica??o quando a empresa possui recursos excedentes e a taxa de capta??o quando a empresa necessita de recursos. A terceira taxa ? utilizada para an?lise de compara??o da viabilidade econ?mica de desconto de t?tulos. Outra diferen?a entre as metodologias encontradas ? a da considera??o da data focal para levar as taxas a valor presente onde elas consideram a data do faturamento. A oscila??o dos resultados obtidos com as literaturas encontradas em rela??o a metodologia proposta oscilou em at? 20%. O objetivo principal deste trabalho ? propor uma metodologia diferente das metodologias encontradas no mercado comercial e liter?rio.Considerando a matem?tica, como uma linguagem l?gica, e a necessidade pr?tica do mercado comercial para definir o melhor m?todo de se precificar e calcular a margem de contribui??o de uma venda, conclui-se que a metodologia proposta ? mais precisa e a que melhor se adapta a realidade comercial dentre as metodologias pesquisadas.
Brand, Rene. "An econophysical investigation : using the Boltzmann distribution to determine market temperature as applied to the JSE all share index." Thesis, Stellenbosch : University of Stellenbosch, 2009. http://hdl.handle.net/10019.1/879.
Full textENGLISH ABSTRACT: Econophysics is a relatively new branch of physics. It entails the use of models in physics applied to economics. The distributions of financial time series are the aspect most intensely studied by physicists. This study is based on a study by Kleinert and Chen who applied the Boltzmann distribution to stock exchange data to define a market temperature that may be used by investors to indicate an impending stock market crash. Most econophysicists’ analysed the tail regions of the distributions as the tails represent risk in financial data. This study’s focus of analysis, on the other hand is the characterisation of the central portion of the probability distribution. The Boltzmann distribution, a cornerstone in statistical physics, yields an exponential distribution. The objective of this study is to investigate the suitability of using a market volatility forecasting method from econophysics, namely the Boltzmann/market temperature method. As econometric benchmark the ARCH/GARCH method is used. Stock market indices are known to be non-normally (non-Gaussian) distributed. The distribution pattern of a stock market index of reasonable high sampling frequency (typically interday or intraday) is leptokurtic with heavy tails. Mesoscopic (interday) distributions of financial time series have been found to be exponential distributions. If the empirical exponential distribution is therefore interpreted as a Boltzmann distribution, then a market temperature can be calculated from the exponential distribution. Empirical data for this study is in the form of daily closing values of the Johannesburg Stock Exchange (JSE) All Share Index (ALSI) and the Standard & Poor 500 (S & P 500) index for the period 1995 through to 2008. The Kleinert and Chen study made use of intraday data obtained from established markets. This study differs from the Kleinert and Chen study in that interday data obtained from an emerging market, namely the South African stock market is used. Neither of the aforementioned two differences had a significant influence on the results of this study. The JSE ALSI log-return data displays non-Gaussian properties and the Laplace (double exponential) distribution fit the data well. A plot of the market temperature provided a clear indication of when stock market crashes occurred. Results of the econophysical (Boltzmann/market temperature) method compared well to results of the econometric (ARCH/GARCH) method and subject to certain improvements can be utilised successfully. A leptokurtic, non-Gaussian nature was established for daily log-returns of the JSE ALSI and the S & P 500 index. The Laplace (double exponential) distribution fit the annual logreturns of the JSE ALSI and S & P 500 index well. As a result of the good Laplace fit, annual market temperatures could be calculated for the JSE ALSI and the S & P 500 index. The market temperature method was effective in identifying market crashes for both indices, but a limitation of the method is that only annual market temperatures can be determined. The availability of intraday stock index data should improve the interval for which market temperature can be determined.
AFRIKAANSE OPSOMMING: Ekonofisika is ‘n relatiewe nuwe studieveld. Dit behels die toepassing van fisiese modelle op finansiële data. Die waarskynlikheidsversdelings van finansiële tydreekse is die aspek wat meeste deur fisisie bestudeer word. Hierdie studie is gebaseer op ‘n studie deur Kleinert en Chen. Hulle het die Boltzmann-verspreiding op ‘n aandele-indeks toegepas en ‘n mark-temperatuur bepaal. Hierdie mark-temperatuur kan deur ontleders gebruik word as waarskuwingsmeganisme teen moontlike aandelebeurs ineenstortings. Die meeste fisisie het die uiterste areas van die verspreidingskurwes geanaliseer omdat hierdie uiterste area risiko in finansiële data verteenwoordig. Die analitiese fokus van hierdie studie, aan die ander kant, is die karakterisering van die die sentrale areas van die waarskeinlikheidsverdeling. Die Boltzmann verspreiding, die hoeksteen van Statistiese Fisika lewer ‘n eksponensiële waarskynlikheidsverdeling. Die doel van hierdie studie is om ‘n ondersoek te doen na die geskiktheid van die gebruik van ‘n ekonofisiese, vooruitskattingsmetode, naamlik die Boltzmann/mark-temperatuur model. As ekonometriese verwysing is die “ARCH/GARCH” metode toegepas. Aandelemark indekse is bekend vir die nie-Gaussiese verspreiding daarvan. Die verspreidingspatroon van ‘n aandelemark indeks met‘n redelike hoë steekproef frekwensie (in die orde van ‘n dag of minder) is leptokurties met breë stert-dele. Mesoskopiese (interdag) verspreidings van finansiële tydreekse is getipeer as eksponensieël. Indien die empiriese eksponensiële-verspreiding as ‘n Boltzmann-verspreiding geinterpreteer word, kan ‘n mark-temperatuur daarvoor bereken word. Empiriese data vir die gebruik in hierdie studie is in die vorm van daaglikse sluitingswaardes van die Johannesburgse Effektebeurs (JSE) se Alle Aandele Indeks (ALSI) en die Standard en Poor 500 (S & P 500) indeks vir die periode 1995 tot en met 2008. Die Kleinert en Chen studie het van intradag data vanuit ‘n ontwikkelde mark gebruik gemaak. Hierdie studie verskil egter van die Kleinert en Chen studie deurdat van interdag data vanuit ‘n opkomende mark, naamlik die Suid-Afrikaanse aandelemark, gebruik is. Nie een van die twee voorafgaande verskille het ‘n beduidende invloed op die resultate van hierdie studie gehad nie. Die JSE ALSI se logaritmiese opbrengs data vertoon nie-Gaussiese eienskappe en die Laplace (dubbeleksponensiële) verspreiding beskryf die data goed. ‘n Grafiek van die mark-temperatuur vertoon duidelik wanneer aandelemarkineenstortings plaasgevind het. Resultate van die ekonofisiese (Boltzmann/mark-temperatuur) metode vergelyk goed met resultate van die ekonometriese (“ARCH/GARCH”) metode en onderhewig aan sekere verbeteringe kan dit met sukses toegepas word. ‘n Leptokurtiese, nie-Gaussiese aard is vir daaglike opbrengswaardes vir die JSE ALSI en die S & P 500 indeks vasgestel. ‘n Laplace (dubbel-eksponensiële) verspreiding kan goed op die jaarlikse logaritmiese opbrengste van die JSE ALSI en die S & P 500 indeks toegepas word. As gevolg van die goeie aanwending van die Laplace-verspreiding kan ‘n jaarlikse mark-temperatuur vir die JSE ALSI en die S & P 500 indeks bereken word. Die mark-temperatuur metode is effektief in die identifisering van aandelemarkineenstorings vir beide indekse, hoewel daar ‘n beperking is op die aantal mark-temperature wat bereken kan word. Die beskikbaarheid van intradag aandele indekswaardes behoort die interval waarvoor mark-temperature bereken kan word te verbeter.
ORLOVAS, Anatoli Dias. "A utiliza????o de m??ltiplos para a precifica????o de IPO???s no mercado brasileiro." FECAP, 2017. http://tede.fecap.br:8080/jspui/handle/jspui/751.
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The objective of this study is to verify if the use of multiples for valuation of companies during their initial public offering is a good predictor of their stock prices. For this study, 71 IPO???s from the Brazilian market that met the selection criteria were analyzed among 117 IPO???s that were approved by the CVM during the period from 2004 to 2014, using the three valuation multiples with higher incidence of recommendations among the analyzed scientific studies surveyed for the elaboration of this work: Price to Book, Price to Earnings and Enterprise Value to EBITDA. This study has compared the multiples of IPOs with the same multiples of companies belonging to the same sector of activity (peers), in two distinct moments: (i) the day of the IPO's and (ii) the day before of the IPO. The analysis was structured in three models: (i) relating the multiple of the IPO to the mean, median and harmonic mean of this same multiple for their peers, (ii) adding dummies related to the year of IPO in the previous model and (iii) adding variables related to size, leverage and return to the previous model. For all models, MQO regressions were performed. As a result, the work found statistical significance to the multiple Price to Earnings when the mean was used in the Model III, showing significance with the use of the difference of returns. Statistical significance was also founded to the multiple Enterprise Value to EBITDA when the mean was used to the Model I, which show the best adjustments demonstrated by R??, although it did not find statistical significance for the Price to Book multiple.
O trabalho a seguir tem por objetivo analisar se a utiliza????o de m??ltiplos para a avalia????o de empresas no momento de sua abertura de capital ?? um bom previsor para o pre??o das a????es destas empresas. Para este trabalho foram analisados 71 IPO???s do mercado brasileiro que atenderam aos crit??rios de sele????o entre os 117 IPO???s que foram aprovadas pela Comiss??o de Valores Mobili??rios ??? CVM, durante o per??odo de 2004 a 2014, utilizando-se dos tr??s m??ltiplos com maior incid??ncia de recomenda????es entre os estudos pesquisados para a elabora????o deste trabalho: Price to Book, Price to Earnings e Enterprise Value to EBITDA. O trabalho comparou os m??ltiplos dos IPO???s com os mesmos m??ltiplos de empresas pertencentes ao mesmo setor de atua????o (peers), em dois momentos distintos: (i) o dia da estreia do IPO na bolsa e (ii) o dia de negocia????es anterior a esta estreia. As an??lises foram estruturadas em 3 modelos, sendo: (i) relacionando o m??ltiplo do IPO com a m??dia, mediana e m??dia harm??nica deste mesmo m??ltiplo para seus peers, (ii) acrescentando dummies referente ao ano da emiss??o do IPO ao modelo anterior e (iii) acrescentando vari??veis relacionadas ao tamanho, alavancagem e endividamento ao modelo anterior. Para todos os modelos, foram realizadas regress??es MQO. Como resultado, o trabalho encontrou signific??ncia estat??stica para os m??ltiplos Price to Earnings quando utilizada a m??dia para o Modelo III, apresentando signific??ncia com a utiliza????o da diferen??a dos retornos. Encontrou tamb??m signific??ncia estat??stica para o m??ltiplo Enterprise Value to EBITDA, quando utilizada a m??dia para o Modelo I, o qual apresentou melhores ajustes demonstrados pelo R??, embora n??o tenha encontrado signific??ncia estat??stica para o m??ltiplo Price to Book.
Šubrt, Michal. "Stanovení derivátů polycyklických aromatických uhlovodíků v životním prostředí." Master's thesis, Vysoké učení technické v Brně. Fakulta chemická, 2013. http://www.nusl.cz/ntk/nusl-216946.
Full textMuchabaiwa, Honest. "Logistic regression to determine significant factors associated with share price change." Diss., 2013. http://hdl.handle.net/10500/13229.
Full textMathematical Sciences
M.Sc. (Statistics)
Zielinski, Marek Piotr. "On the use of economic price theory to determine the optimum levels of privacy and information utility in microdata anonymisation." Thesis, 2010. http://hdl.handle.net/2263/25371.
Full textThesis (PhD)--University of Pretoria, 2010.
Computer Science
unrestricted
Chen, Pin-huei, and 陳品輝. "An algorithm to determine the optimal replenishment and price policy for deteriorating items taking into account the time-value of money." Thesis, 2004. http://ndltd.ncl.edu.tw/handle/71538868623191333870.
Full text國立臺灣科技大學
工業管理系
92
In 2001, Wee and Law (Int. J. Production Economics 71 (2001) 213-220) discussed a deteriorating inventory model with inflation. In essence, they concentrated on the formulation of the inventory model but did not present a concrete solution procedure to solve the model. The model was concerned with the continuous, deterministic case of an inventory system in which the deteriorating rate follows a two-parameter Weibull distribution, and the demand rate of item was a decreasing linear function of the selling price, and it took into account the time-value of money. Although Wee and Law(2001) [1] gave the decision for finding the optimal quantity, their decision was not very solid and clear. Hence, their decision rule was not easily executed to find the optimal order quantity. Consequently, their approach in solving the problems needs further analysis. The main purpose of this paper was to present a rather concrete and easily executive algorithm to solve the model. Numerical examples are given to illustrate the algorithm in the paper.
Lei, Brook, and 雷文宗. "A Study of Macroeconomic Variables that Determine Earnings Multiple of Taiwan Stock Market--Empirical Study of Earnings to Price Ratio (E/P)." Thesis, 2002. http://ndltd.ncl.edu.tw/handle/56062346484408823752.
Full text國立中山大學
財務管理學系研究所
90
Abstract The study reported here was tring to examine the macroeconomic variables that determine the earnings multiple of the Taiwan stock market. For this study, monthly time-series data were used for each of the variables from 1991 through 2001. We used earnings to price ratio（E/P）as the dependent variable，M1B、GDP（lag）、market return、capital increasing rate、log of 5 years bond yield、inflation rate、lag of earning growth and market value to GNP ratio（MV/GNP）as the independent variables to construct a multiple-regression model. And we finded the maraket value to GNP ratio（MV/GNP）was the most powerful variable of the 5 significant variables. GDP（lag）was second, capaital incresing rate ranked third. Market return was fourth, and M1B was the fifth most explanatory variable. Both capaital increasing rate（supply side）and M1B（demand side）variables were signifinant，meant the Law of Supply ＆ Demand remained unchanged in the Taiwan stock market.
Hus, Ming-Hung, and 徐銘鴻. "Applying Data Mining Techniques to Determine the Prices of Rental Houses - A Case Study of the Airbnb Website." Thesis, 2018. http://ndltd.ncl.edu.tw/handle/756228.
Full text國立交通大學
管理學院資訊管理學程
106
Sharing economy is now the most promising mode of profitability. Airbnb (Air bed and breakfast) is a famous representative. There have been more and more tourists or business people who choose Airbnb rather than choosing traditional homestays or large chain hotels. On the Airbnb website platform, you can find not only the houses rented by others, but also can rent idle houses and rooms. There are also more and more people who regard Airbnb as their main source of income. Data mining technology is an important tool for data analysis and forecasting, especially when the volume of data increases explosively. The speed at which data can be processed by humans can not reach the speed of data increase. How to effectively improve processing efficiency and explore useful information has always been a goal pursued by relevant researchers, and data mining technology has been used to assist in housing leasing. Price forecasting is currently the most commonly used method. This research uses the accommodation items rented in the New York City area of the Airbnb official website as the data source. Each object contains 24 characteristic attributes, which are based on the Hedonic Price Method. The adopted data mining method include CART, Random Forest, Gradient Boosting Tree , Linear Regression, Ridge Regression, Lasso. This research designed six experiments and compare the prediction accuracy of various models. It is expected that the above methods will effectively predict reasonable rental prices and increase the probability of transaction of house leasing.
Huang, Rui Hua. "Segmentation for private label and manufacturer brands in consumer packaged goods markets." 2008. http://arrow.unisa.edu.au:8081/1959.8/48303.
Full textDesrochers, Giroux Isabeau. "Négociations climatiques et mesures d'adaptation : la prise en compte des droits humains en droit international des changements climatiques." Thèse, 2017. http://hdl.handle.net/1866/19411.
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