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Energy policies are increasingly focused on promoting the transition towards a more sustainable energy system. Evidence-based decision-making regarding such policies needs a solid knowledge foundation. We take stock of our existing knowledge regarding the statistics and data that form the basis for research, policy and business decision-making regarding investments in renewable energy (RE). We point...
Earnings management is studied to control accounting information for profit of enterprise in the scope of accounting principle. In the paper, the earnings management of enterprise is analyzed in view of the game theory and based on many sides' game action including the board,managers and investors. Moreover, conclusion is drawn that the managers could choose whether they can carry out earnings management...
The banking & financial service industry in the US was hit hard by the sub-prime crisis, which has resulted in huge losses thereby bringing the world's largest economy on the verge of recession. After enduring the shocks of recession US-BFSI sector, had attempted to adopt sophisticated credit risks management systems to manage risks more efficiently. As we are the part of global economy and we...
The research of corporate governance regards the separation of ownership and control as a basic proposition. Accordingly, the core issue of corporate governance becomes the conflict of interests between stakeholders. Shareholding structure is an important factor in corporate governance structure, and the transformation of different shareholding structures constantly harms or protects the interests...
Some domestic scholars have researched the problem of the double principal-agent about venture capital, and hoped that the first principal-agent and the second will be integrated into one for system analysis. The integration model of the double principal-agent is not simply to aggregate the first and the second at all, but hold the major contradiction to research the principal-agent mechanism of the...
This paper analyzes business performance of A-share listed companies issued stock dividend using factor analysis model (FAM). The FAM method generates weights through mathematical transformation and enables us to avoid the subjectivity of giving weights. It is found that the main factors that affect the business operating performance of listed companies are six variables, including operating capacity,...
After enactment of Electricity Act '2003 in India, a comprehensive change is happening in Indian electricity market, and power industries are going through a reformation process to cope with the market change. In the post Electricity Act'2003 scenario restructuring & reformation is happening very fast by unbundling the power Utility by formation different business units like GENCO (Generation...
There are a large number of financial indicators to inflect the operating performance of listed companies, but each of them only express one aspect of these abilities, such as profitability, solvency and development capabilities. In order to assess the operating performance comprehensively, it is important to consider these financial indicators as a whole. This paper uses the factor analysis method...
The financial crisis in 2008 caused a worldwide economic disruption, and also led to growing in-depth thinking. This article considers the governance role of the accounting conservatism on capital market irrational behavior, the disposition effect, from the angle of accounting. We find that conservatism has apparently offset the effect of “overestimate “and “underestimate” caused by the disposition...
This research deals with a model with better efficiency for selection of portfolio making use of cardinal constraints, which are explained in previous sections. Such a method, which is a combination of fuzzy models and MCDM considering the constraints intended by investors, has not been used in previous models. We have considered transactions cost, because they are among factors important for an investor,...
This study provides a model for analyzing the new perspectives for investors in the broadband business field. It integrates real options, SWOT analysis and fuzzy logic into a decision analysis framework for formulating and evaluating such business opportunities. Finally, we discuss a real case study in the specific business field showing how the model can be formulated and solved.
Cross-discipline is a new direction of science and technology. The real estate industry is a fundamental and core industry in China. How to obtain the profitability of the project is an urgent question for the investors and the real estate development companies. Yet, now, there is no effective theory to direct the enterprises. The dissipative structures theory and its core -entropy theory were discussed...
With the liberalization in capital flows and the advances in telecommunication and computer technology, international portfolio selection has been becoming a hot topic for both practitioners and researchers. In traditional international portfolio selection, security selection used to be decided first without considering the fluctuation of foreign exchange rates. Then hedging strategies were made to...
Information asymmetry directly to the performance of insider trading, though the stock market by this asymmetric information environment to sustain their own existence, subject to the necessary "degree" as a precondition. Severe asymmetric information will lead to stock price manipulation, loss of interest of small and medium investors, so investors may lose confidence in the market, and...
Fund families typically claim that closing a fund protects the fund's superior performance by preventing it from growing too large to be managed efficiently. Even though funds with better performance and larger size are more likely to be closed, there is no evidence that closing a fund can indeed protect its performance. Instead, fund closing decisions are more likely to be motivated by spillover...
The paper begins with the concise analysis of the principal-agent relationship at two levels among investors of venture capital and venture capitalists, venture capitalists and venture firms, then the framework for analyzing principal-agent efficiency on the basis of the implication of the concept' principal-agent efficiency is established. Finally, the framework is applied to explore the problem...
To encourage further development of catastrophe (cat) bond, understanding the causes of cat bond premium puzzle is necessitated. Considering the property of entropy to measure uncertainty, this paper establishes an entropy model about risk assessment in catastrophe bond investors' decision making. Moreover, this article analyzes the model and compares relative influence through simulating actual behavior...
This paper selected a sample of A-shares in Shanghai and Shenzhen Stock Exchanges whose ROE fall in the range of 0%-1% (namely listed companies with meager profit) during the three years of 2004-2006. Based on the multiple linear regression method, and studying the profit structure of listed companies with meager profit, this paper confirmed that listed companies with meager profit do have preference...
In our study, we analyzed a securities clearing dataset from a Chinese brokerage firm, and classified investors based on their behavior. We calculate every account's market value, number of stocks and trading frequency, then reduce every account's stock portfolio to corresponding expected risk and rate of return. And we cluster these accounts using k-means algorithm, and obtain four distinct clusters,...
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