financial modelling and sensitivity analysis

... calculate the mean variance and the covariance of random variables qx and q y As an illustrative example, we chose x = and y = 3, and 100 values were generated for each random variable The corresponding ... number of sensors and the same data matrix as in Section 6.1 The optimal sensor placement was different and the results of the sensitivity analysis for M = 25, N = 6, P = 6, σ = 1, and sensors placed ... sufficient to consider two optimal arbitrary locations x and y, and the values of the two random estimates qx and q y , respectively, along with the random noise vector w, which are obtained with (2)...

Ngày tải lên: 22/06/2014, 19:20

... Gaussian and Salt and Pepper noises are considered for testing because Gaussian is a popular noise for testing the robustness of most systems and Salt and Pepper noise is composed of random pixels ... Wang, and D Zhang, “Personal identification based on iris texture analysis, ” IEEE Transactions on Pattern Analysis and Machine Intelligence, vol 25, no 12, pp 1519– 1533, 2003 [10] L Ma, Y Wang, and ... Kelly, D Chandler, and J Kane, “Biometric product testing final report,” issue 1.0, National Physical Laboratory of UK, 2001 [34] A Mansfield and J Wayman, “Best practice standards for testing and reporting...

Ngày tải lên: 22/06/2014, 23:20

Ngày tải lên: 17/01/2014, 03:20

... emphasized by Adrian and Shin (2008), Brunnermeier and Pederson (2009), Kiyotaki and Moore (2009), Jermann and Quadrini (2009), Fostel and Geanakoplos (2009), Kurlat (2009) and others In the context ... funds between a bank and non-financial firms in the same island In particular, we suppose that the bank is efficient at evaluating and monitoring non-financial firms of the same island, and also at enforcing ... spirit of Allen and Gale (1995, 2007) and others This is because within our framework (i) only banks of the same island can make loans to nonfinancial firms and (ii) banks on investing islands cannot...

Ngày tải lên: 06/03/2014, 08:20

Ngày tải lên: 07/03/2014, 08:20

... to reduce risks and financial burdens for and provide incentives to ICT investors and financiers Coordinated “e-governance” networking, service delivery, education and training, and procurement ... regulatory, and financial frameworks and seed financing Broadband capacity to facilitate the delivery of services, catalyze investment and provide Internet access at affordable prices to both existing and ... broadband, rural and regional projects, and capacity building); • Creation of a mechanism for coordinating research and analysis into enabling policy environments, to identify best practices and...

Ngày tải lên: 15/03/2014, 19:20

... Within the Analysis • Sensitivity and Breakeven analyses are also known as: ‘scenario analysis , and ‘what-if analysis • Point values of forecasts are known as: ‘optimistic’, ‘most likely’, and ‘pessimistic’ ... project is too risky, it is abandoned at this stage Management Use of Sensitivity and Breakeven Analysis Using Sensitivity: Sensitive variables are investigated and managed in two ways: •(2) ... further investigated by management Management Use of Sensitivity and Breakeven Analysis Using Sensitivity: Sensitive variables are investigated and managed in two ways: • (1) Ex ante; in the planning...

Ngày tải lên: 16/03/2014, 01:20

... forms of TbPFK-2 and investigated whether the T brucei PFK-2 and FBPase-2 enzymes are homologous to their counterparts in higher eukaryotes Results and Discussion Purification and characterization ... genome projects (T brucei, T cruzi and Leishmania major) using a query of mammalian and yeast bifunctional PFK-2 ⁄ FBPase-2 sequences Analysis of the various T brucei and L major databases surprisingly ... mammalian and S cerevisiae PFK-2 and FBPase-2 domains (and corresponding to boxed residues in Fig 3) c Overall percentage of amino acid sequence identity between the predicted trypanosomatid enzymes and...

Ngày tải lên: 16/03/2014, 22:20

... into UWB and TR-UWB communications, Section covers various signal degradations and error performance analysis, Section overviews a UWB and TR-UWB simulation, together with a comparative analysis ... with Ns = and 10 Results are illustrated in Figures 10 and 11 The plots indicate the maximum, minimum, and average BER rates over all users for both All-RAKE and TR-UWB simulations, and also the ... COMPARISON OF SIMULATED AND ESTIMATED RESULTS All-RAKE and TR-UWB simulations were adapted from a time hopped PPM UWB simulation by Di Benedetto and Giancola [32] The cardinality and periodicity of...

Ngày tải lên: 22/06/2014, 19:20

... the Journal of Banking and Finance, Financial Management, and the Financial Analysts Journal xiii PART One Foundations CHAPTER Introduction to Financial Management and Analysis inance is the ... xiii PART ONE Foundations CHAPTER Introduction to Financial Management and Analysis CHAPTER Securities and Markets 27 CHAPTER Financial Institutions and the Cost of Money 49 CHAPTER Introduction ... 29 Strategy and Financial Planning 933 APPENDIX Black-Scholes Option Pricing Model 975 INDEX 983 Preface Financial Management and Analysis is an introduction to the concepts, tools, and applications...

Ngày tải lên: 27/06/2014, 22:20

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

Ngày tải lên: 01/07/2014, 21:28

... the Journal of Banking and Finance, Financial Management, and the Financial Analysts Journal xiii PART One Foundations CHAPTER Introduction to Financial Management and Analysis inance is the ... xiii PART ONE Foundations CHAPTER Introduction to Financial Management and Analysis CHAPTER Securities and Markets 27 CHAPTER Financial Institutions and the Cost of Money 49 CHAPTER Introduction ... 29 Strategy and Financial Planning 933 APPENDIX Black-Scholes Option Pricing Model 975 INDEX 983 Preface Financial Management and Analysis is an introduction to the concepts, tools, and applications...

Ngày tải lên: 09/08/2014, 16:21

... for Years Ending December 31, in Thousands 2003 ASSETS LIABILITIES AND SHAREHOLDERS’ EQUITY 2002 ■ ■ ■ Current Assets for Wal-Mart Stores, Procter & Gamble, and Walt Disney Company (2001) Wal-Mart ... Writer Receives $2 for this Option Profits and Losses on the Exercise of a Put Option to Sell the Stock at $60 The Investor Pays $2 for this Put Option Profits and Losses on the Writing of a Put Option ... Profits and Losses on the Exercise of a Call Option to Buy the Stock at $60 The investor Pays $2 for this Call Option Profits and Losses on the Writing of a Call Option...

Ngày tải lên: 09/08/2014, 16:21

... amount D P P ( ) - Review of Economics and Statistics Financing and Valuation of the Corporation The Investment The Theory of Investment Value The ... i) N CF ∑ -t t ( i) ) CF( N i CF -i ■ ■ risk averse Investor uses the discount rate and values the asset as market equilibrium return ■ ■ ■ yield − FV PV N − i FV PV N r FV PV i N ... Investment Value The Price of a Share of Stock with a Current Dividend of $2, a 6% Growth in Dividends, and a 10% Required Rate of Return g re D g g less decline re D P g ( ) − ...

Ngày tải lên: 09/08/2014, 16:21

... Return Portfolio Variance Covariance Between Returns on Assets P and Q Portfolio Standard Deviation Portfolio Variance Portfolio Standard Deviation 307 - ... Securities A and B Proportion of Portfolio Invested in Asset P Security Portfolio Return Proportion of Portfolio Invested in Asset Q Security Beta Covariance between Returns on Securities A and B Portfolio ... ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ Investment Stock Expected Return Expected Return Standard Deviation Standard Deviation Security Beta ■ ■ Competitor’s Reaction Economic Scenario Probability...

Ngày tải lên: 09/08/2014, 16:21

... each technique and determine in what way and how well it evaluates each of the projects described in Exhibit 13.1 EXHIBIT 13.1 Projects Evaluated Investments A and B Investments E and F Each requires ... year Let FV = $3,524,057, PV = $1,000,000, and n = Using the basic valuation equation, FV = PV(1 + i)n and substituting the known values for FV, PV, and n, and solving for r, the IRR, $3,524,057 ... 300,000 300,000 300,000 $0 0 1,200,000 200,000 Investments C and D Investments G and H Each requires $1,000,000 at the end of the year 2000 and has a cost of capital of 10% per year Each requires...

Ngày tải lên: 09/08/2014, 16:21

... options, and warrants are valuable and affect the riskiness and attractiveness of the security they are attached to The bond indenture is the contract between the issuer and the bondholders and consists ... back and won, defeating the Icahn and LeBow slate by a 3-to-1 margin and costing the RJR Nabisco $11 million (or cents per share) A detailed analysis of the different types of poison pills and ... (3) basic operating and competitive position, (4) financial position and sources of liquidity, (5) company structure (including structural subordination and priority of claim), and (6) parent company...

Ngày tải lên: 09/08/2014, 16:21

... how much and when cash is needed, and how much and when to generate it Cash forecasting requires pulling together and consolidating the short-term projections that relate to cash inflows and outflows ... creditors and owners We can classify bankruptcy costs into direct and indirect costs Direct costs include the legal, administrative, and accounting costs associated with the filing for bankruptcy and ... may be derived from the research and development that leads to new products Financial Distress and Capital Structure The relationship between financial distress and capital structure is simple:...

Ngày tải lên: 09/08/2014, 16:21

... PART Six Financial Statement Analysis CHAPTER 22 Financial Ratio Analysis n this chapter, we introduce you to financial ratios—one of the tools of financial analysis In financial ratio analysis ... over time and comparisons with other companies in the same industry USING FINANCIAL RATIO ANALYSIS Financial analysis provides information concerning a firm’s operating performance and financial ... data and evaluate it We show how to incorporate market data and economic data in the analysis and interpretation of financial ratios Finally, we show you how to interpret financial ratio analysis, ...

Ngày tải lên: 09/08/2014, 16:21

... production and, ultimately, greater output Countries will produce and export goods and services for which they have a comparative or competitive advantage and countries will import goods and services ... demand for fuel and petroleum-based products (e.g., plastics) International Financial Management EXHIBIT 25.2 United States’ Exports and Imports, 1919–2001 in Real Dollars Panel a: Exports and ... currency depends on many factors, including the imports and exports of goods and services As the demand and supply of countries’ currencies rises and falls, the exchange rates, which reflect the currencies’...

Ngày tải lên: 09/08/2014, 16:21