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A Simple Introduction to Financing Energy Management Projects
Published in Eric A. Woodroof, Albert Thumann, How to Finance Energy Managment Projects, 2021
Although less popular, selling company stock is an equity financing option which can raise capital for projects. For the host, selling stock offers a flexible repayment schedule, because dividend payments to shareholders aren’t absolutely mandatory. Selling stock is also often used to help a company attain its desired capital structure. However, selling new shares of stock dilutes the power of existing shares and may send an inaccurate “signal” to investors about the company’s financial strength. If the company is selling stock, investors may think that it is desperate for cash and in a poor financial condition. Under this belief, the company’s stock price could decrease. However, recent research indicates that when a firm announces an EMP, investors react favorably.10 On average, stock prices were shown to increase abnormally by 21.33%.
Financing and Performance Contracting
Published in Stephen A. Roosa, Steve Doty, Wayne C. Turner, Energy Management Handbook, 2020
Eric A. Woodroof, Stephen A. Roosa
Although less popular, selling company stock is an equity financing option that can raise capital for projects. For the host, selling stock offers a flexible repayment schedule, because dividend payments to shareholders aren’t absolutely mandatory. Selling stock is also often used to help a company attain its desired capital structure. However, selling new shares of stock dilutes the power of existing shares and may send an inaccurate signal to investors about the company’s financial strength. If the company is selling stock, investors may believe that it is desperate for cash and in poor financial condition. Under this belief, the company’s stock price could decrease. However, recent research indicates that when a firm announces an EMP, investors react favorably [6]. On average, stock prices were shown to increase by 21.33%, independent of overall market growth.
Airline Capital Structure and Cost of Capital
Published in Bijan Vasigh, Ken Fleming, Liam Mackay, Foundations of Airline Finance, 2018
Bijan Vasigh, Ken Fleming, Liam Mackay
Equity can be classified into two distinct categories, common stock and preferred stock,2 based upon the shareholders’ rights. Common stock represents a unit of ownership in the company and is commonly traded on public exchanges, such as the New York Stock Exchange (NYSE), the National Association of Securities Dealers Automated Quotations (NASDAQ), the Tokyo Stock Exchange (TSE), Paris stock exchange (known as Euronext Paris) and the London Stock Exchange (LSE). By being a proportional owner in the company, a common stockholder is afforded certain rights: Pre-Emptive Rights (First opportunity to buy new issues of shares)Vote on major issues and elect the Board of DirectorsProportional ownership of assets if the company liquidatesProportional rights to dividends.
How does intelligent manufacturing affects enterprise innovation? The mediating role of organisational learning
Published in Enterprise Information Systems, 2022
Limeng Ying, Xiaojing Liu, Menghao Li, Lipeng Sun, Pishi Xiu, Jie Yang
Whether the enterprise implements intelligent manufacturing is not completely random or exogenously determined, which affects the comparability between the treatment group and the control group. Therefore, this paper uses a propensity score matching (PSM) method to obtain comparable control groups. Using the selected enterprise characteristic variables as matching criteria, a non-alternative one-to-one nearest-neighbour matching method is selected, and unimplemented intelligent manufacturing enterprises are selected as the control group, and then the matched samples and continuous time DID methods are used to innovate these two groups of enterprises. Compared. Select the enterprise’s total asset growth rate (GROWTH), return on equity (ROE), ratio of profits to cost (COST), current ratio (CURA), enterprise value (Tobin_Q), total asset turnover rate (TAT), asset-heavy strategy (HEAVY), enterprise size (SIZE) and enterprise age (AGE) are used as matching variables. These variables control enterprise characteristics such as enterprise size, age, operating ability, profitability, debt repayment ability and enterprise growth.
The impact of autonomous vehicle technologies on product recall risk
Published in International Journal of Production Research, 2019
Finbarr Murphy, Fabian Pütz, Martin Mullins, Torsten Rohlfs, Dennis Wrana, Michael Biermann
Legal costs can include legal advisory fees, compensation payments to customers, legal or contractual obligations and punitive penalties. Equity costs are not typically related to direct payments or cash-outflows from the affected company but are costs that – at least for the short term – reduce the enterprise value. Assuming that the company value reflects the present value of future profits, this cost category comprises indirect costs attributed to losses of future income triggered by the product recall event (Rupp 2004). For example, equity losses can arise because no products can be produced (‘loss of production capacity’) or sold (‘loss of sale’) if error-free components are not available in stock. Equity losses can also arise because of reputational damages leading to a decrease in consumer demand or investor interest. Product recalls due to the failure of highly safety-relevant components potentially attract higher public and regulatory attention implying higher reputational damage and higher impact on the company value. Hence, this cost component potentially could gain in relevance with ADAS/AV-enabled vehicles. This is especially applicable if just an accident event exhibits inadequate safety of the vehicle so that the affected company faces even higher reputational risk and additional legal costs resulting from product liability claims.
M&As and determinants of financial multiples in shipping: the European ro-pax and ferry market
Published in Maritime Policy & Management, 2023
G. Satta, F. Avallone, L. Persico, F. Parola, F. Vitellaro, C. Di Fabio
Figure 6 stresses the differences in the average values of financial multiples for the most represented countries. The UK shows the highest Implied Enterprise Value/Revenues (5.20) and Implied Enterprise Value/EBITDA (i.e. 14.15), whereas Germany reaches an Equity Value/Book Value of 9.63 which is much higher than the average of the sample (2.93).