Valuation Approaches and Metrics

Valuation Approaches and Metrics PDF

Author: Aswath Damodaran

Publisher: Now Publishers Inc

Published: 2005

Total Pages: 102

ISBN-13: 1601980140

DOWNLOAD EBOOK →

Valuation lies at the heart of much of what we do in finance, whether it is the study of market efficiency and questions about corporate governance or the comparison of different investment decision rules in capital budgeting. In this paper, we consider the theory and evidence on valuation approaches. We begin by surveying the literature on discounted cash flow valuation models, ranging from the first mentions of the dividend discount model to value stocks to the use of excess return models in more recent years. In the second part of the paper, we examine relative valuation models and, in particular, the use of multiples and comparables in valuation and evaluate whether relative valuation models yield more or less precise estimates of value than discounted cash flow models. In the final part of the paper, we set the stage for further research in valuation by noting the estimation challenges we face as companies globalize and become exposed to risk in multiple countries.

Warlike and Peaceful Societies

Warlike and Peaceful Societies PDF

Author: Agner Fog

Publisher: Open Book Publishers

Published: 2017-10-13

Total Pages: 364

ISBN-13: 1783744065

DOWNLOAD EBOOK →

Are humans violent or peaceful by nature? We are both. In this ambitious and wide-ranging book, Agner Fog presents a ground-breaking new argument that explains the existence of differently organised societies using evolutionary theory. It combines natural sciences and social sciences in a way that is rarely seen. According to a concept called regality theory, people show a preference for authoritarianism and strong leadership in times of war or collective danger, but desire egalitarian political systems in times of peace and safety. These individual impulses shape the way societies develop and organise themselves, and in this book Agner argues that there is an evolutionary mechanism behind this flexible psychology. Incorporating a wide range of ideas including evolutionary theory, game theory, and ecological theory, Agner analyses the conditions that make us either strident or docile. He tests this theory on data from contemporary and ancient societies, and provides a detailed explanation of the applications of regality theory to issues of war and peace, the rise and fall of empires, the mass media, economic instability, ecological crisis, and much more. Warlike and Peaceful Societies: The Interaction of Genes and Culture draws on many different fields of both the social sciences and the natural sciences. It will be of interest to academics and students in these fields, including anthropology, political science, history, conflict and peace research, social psychology, and more, as well as the natural sciences, including human biology, human evolution, and ecology.

California Indian Languages

California Indian Languages PDF

Author: Victor Golla

Publisher: Univ of California Press

Published: 2022-02

Total Pages: 395

ISBN-13: 0520389670

DOWNLOAD EBOOK →

Nowhere was the linguistic diversity of the New World more extreme than in California, where an extraordinary variety of village-dwelling peoples spoke seventy-eight mutually unintelligible languages. This comprehensive illustrated handbook, a major synthesis of more than 150 years of documentation and study, reviews what we now know about California's indigenous languages. Victor Golla outlines the basic structural features of more than two dozen language types and cites all the major sources, both published and unpublished, for the documentation of these languages—from the earliest vocabularies collected by explorers and missionaries, to the data amassed during the twentieth-century by Alfred Kroeber and his colleagues, to the extraordinary work of John P. Harrington and C. Hart Merriam. Golla also devotes chapters to the role of language in reconstructing prehistory, and to the intertwining of language and culture in pre-contact California societies, making this work, the first of its kind, an essential reference on California’s remarkable Indian languages.

Pi: A Source Book

Pi: A Source Book PDF

Author: Jonathan M. Borwein

Publisher: Springer Science & Business Media

Published: 2013-06-29

Total Pages: 754

ISBN-13: 1475732406

DOWNLOAD EBOOK →

Our intention in this collection is to provide, largely through original writings, an ex tended account of pi from the dawn of mathematical time to the present. The story of pi reflects the most seminal, the most serious, and sometimes the most whimsical aspects of mathematics. A surprising amount of the most important mathematics and a signifi cant number of the most important mathematicians have contributed to its unfolding directly or otherwise. Pi is one of the few mathematical concepts whose mention evokes a response of recog nition and interest in those not concerned professionally with the subject. It has been a part of human culture and the educated imagination for more than twenty-five hundred years. The computation of pi is virtually the only topic from the most ancient stratum of mathematics that is still of serious interest to modern mathematical research. To pursue this topic as it developed throughout the millennia is to follow a thread through the history of mathematics that winds through geometry, analysis and special functions, numerical analysis, algebra, and number theory. It offers a subject that provides mathe maticians with examples of many current mathematical techniques as weIl as a palpable sense of their historical development. Why a Source Book? Few books serve wider potential audiences than does a source book. To our knowledge, there is at present no easy access to the bulk of the material we have collected.

Farmers, Workers and Machines

Farmers, Workers and Machines PDF

Author: Harland Padfield

Publisher:

Published: 1965

Total Pages: 360

ISBN-13:

DOWNLOAD EBOOK →

The fact that labor supply consists of men, women, and children in families with their own accustomed and often well-loved ways of living is often overlooked in any discussion of "the farm labor problem." this study uses both agricultural economics and cultural anthropology in analyzing employment problems. The analysis covers (1) histories of the development of the citrus, lettuce, and cotton industries with examples of companies using different harvesting operations, (2) the economics of the technologies, (3) the workers, (4) the participants in their distinctive cultural and institutional settings--Mexican-American, anglo-isolate, negro, Indian, and management, and (5) the participants in their common technological setting. Some of the conclusions were--(1) Arizona agriculture, as a variant of southwestern agriculture, is an instrument of exploitation of unsophisticated, culturally unassimilated peoples, and functions also as an assimilative mechanism working in the direction of upward occupational mobility and by doing depletes itself of its own labor supply, (2) displacement of the higher occupational classes tends to be permanent because its members do not fit the lower occupational classes, and (3) when members of the lower occupational classes are replaced by higher class workers, the members of the lower classes tend to remain in the industry and compete for the new higher-status jobs. Some implications for farm employment and manpower were--(1) an unemployed worker should be retrained in a higher occupational class, (2) if a worker is displaced from the highest occupational status in the industry, he should be retrained for another industry, (3) anglo-isolates cannot be rehabilitated by training programs, and (4) the concept of training for occupational adjustment must be broadened to deal effectively with institutional and cultural factors.

Climate Change, Glacier Response, and Vegetation Dynamics in the Himalaya

Climate Change, Glacier Response, and Vegetation Dynamics in the Himalaya PDF

Author: RB Singh

Publisher: Springer

Published: 2016-06-06

Total Pages: 399

ISBN-13: 3319289772

DOWNLOAD EBOOK →

This book provides information essential for anyone interested in climate and environmental change of the Himalayan region, including land and resource managers, environmental planners, conservationists, environmentalists, geographers, climatologists, ecologists, and students. The book is unique in its coverage of the current understanding of the science of climate change in the Himalayan mountain system and of the major impacts on physical systems and ecosystems. The book gives an overview of the physical science basis of climate change and explains drivers and processes of glacier and vegetation dynamics. The book covers relevant aspects of accelerated climate change observed in the Himalayan mountain system, and highlights the regional differentiation of climatic changes and associated environmental modifications. The focus is on climate variability and change, and how physical systems and ecosystems respond to climate change impacts. Consequences include impacts on physical systems such as glacier shrinkage, glacial lake outburst floods, altered hydrological characteristics, permafrost warming and thawing, and mass movements on slopes. Climate change is also a powerful stressor on ecosystems and induces range shifts of plant and animal species and alterations in terms of phenology, biomass, plant cover, plant group dominance and species composition. Thus, ecosystem structure and functioning will be strongly affected. The book has an introductory chapter followed by a section on climate change, a section on impacts on glaciers and hydrology, and a section on vegetation dynamics. Each section has several chapters presenting key concepts, major drivers and key processes of environmental change in the Himalayan region from different perspectives. Climate change impacts in the Himalaya have not been studied in much detail, and respective findings were not presented so far in a comprehensive overview. This book summarizes the current knowledge of interactions between climate change and the dynamics of glaciers, hydrology, and vegetation.

Arming the Periphery

Arming the Periphery PDF

Author: E. Chew

Publisher: Springer

Published: 2012-06-12

Total Pages: 285

ISBN-13: 1137006609

DOWNLOAD EBOOK →

A major historical study of the global arms trade, revolving around the transfer of small arms from metropolitan Europe to the turbulent frontiers of Indian Ocean societies during the 'long' nineteenth century (c.1780-1914).

Lanterna Rally - Theme by Grace Themes