Zhodnocení finanční situace společnosti Country Garden Holdings Company Limited

The goal of the thesis is to evaluate the financial performance of the Country Garden Holdings Company Limited by analyzing the annual reports for period 2012 – 2016. This thesis will introduce different methods and financial ratios, and then use them to analyze the financial situation and development trend of Country garden in the past five years. At the same time, it will also reflect the current situation of China's real estate industry.The goal of the thesis is to evaluate the financial performance of the Country Garden Holdings Company Limited by analyzing the annual reports for period 2012 – 2016. This thesis will introduce different methods and financial ratios, and then use them to analyze the financial situation and development trend of Country garden in the past five years. At the same time, it will also reflect the current situation of China's real estate industry.154 - Katedra financívelmi dobř

An enhanced concave program relaxation for choice network revenue management

The network choice revenue management problem models customers as choosing from an offer set, and the firm decides the best subset to offer at any given moment to maximize expected revenue. The resulting dynamic program for the firm is intractable and approximated by a deterministic linear program called the CDLP which has an exponential number of columns. However, under the choice-set paradigm when the segment consideration sets overlap, the CDLP is difficult to solve. Column generation has been proposed but finding an entering column has been shown to be NP-hard. In this paper, starting with a concave program formulation called SDCP that is based on segment-level consideration sets, we add a class of constraints called product constraints (σPC), that project onto subsets of intersections. In addition we propose a natural direct tightening of the SDCP called ESDCPκ, and compare the performance of both methods on the benchmark data sets in the literature. In our computational testing on the benchmark data sets in the literature, 2PC achieves the CDLP value at a fraction of the CPU time taken by column generation. For a large network our 2PC procedure runs under 70 seconds to come within 0.02% of the CDLP value, while column generation takes around 1 hour; for an even larger network with 68 legs, column generation does not converge even in 10 hours for most of the scenarios while 2PC runs under 9 minutes. Thus we believe our approach is very promising for quickly approximating CDLP when segment consideration sets overlap and the consideration sets themselves are relatively small

A decision support system for demand and capacity modelling of an accident and emergency department

© 2019 Operational Research Society.Accident and emergency (A&E) departments in England have been struggling against severe capacity constraints. In addition, A&E demands have been increasing year on year. In this study, our aim was to develop a decision support system combining discrete event simulation and comparative forecasting techniques for the better management of the Princess Alexandra Hospital in England. We used the national hospital episodes statistics data-set including period April, 2009 – January, 2013. Two demand conditions are considered: the expected demand condition is based on A&E demands estimated by comparing forecasting methods, and the unexpected demand is based on the closure of a nearby A&E department due to budgeting constraints. We developed a discrete event simulation model to measure a number of key performance metrics. This paper presents a crucial study which will enable service managers and directors of hospitals to foresee their activities in future and form a strategic plan well in advance.Peer reviewe

Disentangling the European airlines efficiency puzzle: a network data envelopment analysis approach

© 2015 Elsevier Ltd. In recent years the European airline industry has undergone critical restructuring. It has evolved from a highly regulated market predominantly operated by national airlines to a dynamic, liberalized industry where airline firms compete freely on prices, routes, and frequencies. Although several studies have analyzed performance issues for European airlines using a variety of efficiency measurement methods, virtually none of them has considered two-stage alternatives - not only in this particular European context but in the airline industry in general. We extend the aims of previous contributions by considering a network Data Envelopment Analysis (network DEA) approach which comprises two sub-technologies that can share part of the inputs. Results show that, in general, most of the inefficiencies are generated in the first stage of the analysis. However, when considering different types of carriers several differences emerge - most of the low-cost carriers' inefficiencies are confined to the first stage. Results also show a dynamic component, since performance differed across types of airlines during the decade 2000-2010

Forecasting and Forecast Combination in Airline Revenue Management Applications

Predicting a variable for a future point in time helps planning for unknown future situations and is common practice in many areas such as economics, finance, manufacturing, weather and natural sciences. This paper investigates and compares approaches to forecasting and forecast combination that can be applied to service industry in general and to airline industry in particular. Furthermore, possibilities to include additionally available data like passenger-based information are discussed

An index number decomposition of profit change in two Australian fishing sectors

Changes in net economic returns in a fishery over time can provide some indication of which direction a fishery’s economic performance is moving. However, without information on the causes of those movements, it is difficult to say if a fishery is moving closer to or further away from a point associated with maximum economic yield. A further complication is that different drivers of profitability can cause profit to move in different directions and at variable magnitudes over time. The key variables that influence a fishery’s profitability include: prices received for catch; prices paid for inputs (such as crew and fuel); vessel productivity (that is, the ability of each vessel to convert its inputs into outputs or harvested catch); and the fishery’s stock biomass, with a higher stock biomass allowing catches to be made at lower cost and greater profit. This paper presents an index number profit decomposition analysis of two sectors of the Australian Southern and Eastern Scalefish and Shark Fishery. The analysis presented decomposes and quantifies the relative contribution of each of the above-mentioned drivers to changes in vessel-level profitability over time. More specifically, the results are interpreted to reveal how historical changes in profit have come about as a result of both changes in variables that fishery managers do have some indirect influence over (fish stocks and productivity) and changes in variables that fishery managers do not have control over (output and input prices). It is shown that, for the two sectors assessed, two key factors that have influenced recent profitability changes are: a recently implemented government restructuring package; and previous adjustments to total allowable catch settings for key species.Resource /Energy Economics and Policy,

Productivity and Efficiency of US Gas Transmission Companies: A European Regulatory Perspective

Keywords JEL Classification On both sides of the Atlantic the regulation of gas transmission networks has undergone major changes since the early 1990’s. Whereas in the US the long-standing regime of cost-plus regulation was complemented by increasing pipe-to-pipe competition, most European countries moved towards incentive regulation complemented by market integration. We study the impact of US regulatory reform using a Malmquist-based productivity analysis for a panel of US interstate companies. Results are presented for changes in productivity, as well as for several convergence tests. The results indicate that taking productivity and convergence as performance indicators, regulation has been rather successful, in particular during a period where overall demand was flat. Lessons for European regulators are twofold. First, the US analysis shows that benchmarking of European transmission operators would be possible if data were available. Second, our results suggest that, in the long-run, market integration and competition are alternatives to the current European model. Natural gas transmission; utility regulation; data envelopment analysis; total factor productivity; convergenc