Equity research - Kingfisher PLC

Mestrado em FinançasEste projeto contêm uma avaliação detalhada e uma estimação do valor intrínseco das ações da empresa Kingfisher plc para o final do ano 2020, de acordo com o projeto de trabalho final do Mestrado de Finanças do ISEG. Estre projeto é apresentado com o formato recomendado pelo instituto CFA. A empresa Kingfisher plc foi escolhida devido à sua reputação como uma das maiores empresas retalhistas de produtos de melhoria habitacional e devido a o seu contexto específico de fazer a sua atividade através das suas diferentes subsidiárias. Os pressupostos considerados para a avaliação têm por base dados históricos da empresa, estimações macroeconómicas e tendências da indústria. O preço-alvo é obtido através de um método de avaliação absoluta, o método do Discount Cash Flow (DCF). Para fortalecer a análise, foi utilizado um método relativo de avaliação, o método dos Múltiplos Comparáveis. A análise foi completada com uma análise de sensibilidade e uma simulação Monte Carlo. Com um preço-alvo de £ 2.75 para o FA2020, representando um potencial de desvalorização de -7.39% do dia 30 de Setembro de 2020, preço corrente de £ 2.97, a nossa recomendação para a Kingfisher plc é VENDER, tomando em consideração os riscos que possam ocorrer e afetar a empresa. A nossa avaliação do risco estima um risco médio para a empresa.This project delivers the detailed valuation and forecast of Kingfisher plc's intrinsic value for the end of 2020, according to ISEG's Master in Finance final work project. This project is presented with the recommended format by CFA institute. Kingfisher plc was chosen due to its reputation as one of the biggest Home Improvement Retail companies in the world and due to the specific context of operating through its retail banners throughout Europe. The assumptions considered for the valuation result from the firm's historical data, macroeconomic estimates and industry tendencies. The price target was obtained through an absolute valuation method, the Discount Cash Flow (DCF) Valuation. To strengthen the analysis, it was used a relative valuation method, the Comparable Multiples method. The analysis was completed with a sensitivity analysis and a Monte Carlo simulation. With a price target of £ 2.75 for YE2020, representing a downside potential of -7.39% from September 30th, 2020, current price of £ 2.97, our final recommendation for Kingfisher plc is to SELL, taking into account the risks that may appear and affect the company's performance. Our risk assessment estimates a medium risk for the firm.info:eu-repo/semantics/publishedVersio

Digital economy and internationalization

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Process optimization by proper selection of batch sizes.

Tato diplomová práce se zabývá procesní optimalizací volby výrobních dávek ve společnosti KAMAX, s.r.o. pomocí analýzy současného stavu výrobního systému a aplikací různých modelů stanovování výrobních dávek. Optimalizované velikosti výrobních dávek jsou vybrány na základě simulace a validace výpočtových analytických modelů pomocí simulačního nástroje. Pro potřeby praktické části je však nejprve zpracována teoretická část obsahující analytické metody stanovování výrobních dávek a postup validace a simulace.Validace simulace je založena na stanovení ceny za skladovací plochu jako plochu výrobní s ohledem na možný potenciál využití této plochy pro přidávání hodnoty, spíše než pro skladování. Na základě stanovení ruzného koeficientu alfa - poměru přidávajícího hodnotu, jsou navrženy různé výrobní dávky a tím optimalizován výrobní systém. Na závěr jsou doporučeny hodnoty výrobních dávek na základě vybraných modelů.The work presented in this thesis deals with process optimization by proper selection of manufacturing batch sizes for the company KAMAX, s.r.o. and the company's current production system is studied, and optimal manufacturing batch size is determined by computing the production parameters using various manufacturing batch optimizing methods.An optimal manufacturing batch is selected by simulating and validating the analytically computed models in simulation software. In order to understand the practical work done in the analytical, simulation and validation process, a theoretic chapter is established as well. In this thesis work, the results explain the idea of converting the company's current inventory facility into a production facility to increase the productivity and profit to area ratio of the company. And by running the production with the newly defined optimal manufacturing batch and reduced alpha value, the company's production system is optimized

Benchmarking of a medical device company's product development process

Thesis (S.M.)--Massachusetts Institute of Technology, Engineering Systems Division, 2012.This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.Cataloged from student-submitted PDF version of thesis.Includes bibliographical references (p. 88-90).In todays' global economy, having a lean operation is no longer considered a competitive edge; rather has become the new necessity and norm [15]. The new source of this competitive edge is innovation [15]. What sets an organization apart from its competitors is the ability to develop products that constantly meet customers' demands. An organization must have a New Product Development Process (NPDP) that enhances, expedites and fosters development of innovative products on consistent basis in order to tie innovation to market success. Many organizations have a difficult time determining whether or not the NPDP they are using is adequate because there are no standard methods or processes that organization can use to assess their NPDP [16]. In order to assist a specific medical device organization to assess its NPDP, a partnership with Performance Measure Group (PMG) was established. PMG is a leader in benchmarking and performance measurement. This thesis gives insight into the various new product development and benchmarking processes that are in practice today. It also explores the challenges and benefits associated with conducting benchmarking. Finally, this thesis reveals some of the challenges that this particular medical device company confronts with their NPDP.by Sassan Zelkha.S.M

Gallup Herald, 07-07-1923

https://digitalrepository.unm.edu/gallup_herald_news/1108/thumbnail.jp

Trade-concentration and its impact on commerce and traders of a Mexican city

This dissertation evaluates the changes in food retailing patterns in the face of openmarket trends in a medium sized city (Citlalicalli) in central Mexico. This evaluation is carried out using the model of retail trade-concentration. The following questions are addressed: whether trade-concentration had occurred in the field-site; if yes, what were the causes; and, what were the effects of retail concentration on preexisting food retailers. The fieldwork for this study was conducted over a 14 month period (May 2005 and June 2006). Empirical data were collected using three surveys, over 25 interviews, and several hours of participant observations. Along with these primary data, secondary data from official records were also collected. The survey data were analyzed using nonparametric tests. The findings from the study revealed that trade-concentration is proceeding in Citlalicalli and the recent spread of large stores in the region has been encouraged by free-trade policies adopted by Mexico since the mid-1980s. Trade-concentration in the Altepetl metropolitan area has also been aided by the positive behavior that consumers show towards large retail chains. Contrary to popular belief, the impact of retail concentration on preexisting small retailers in Citlalicalli has been minimal. Partly traditions and partly the nearness of a particular store explain the continued patronization of small stores by consumers. The product category and income of consumers also influence their purchase decisions. This research shows that competition in food retailing in developing countries is between same size and same type retailers. Small retailers are not always in direct competition with modern retailers as they serve different sections of the society. Retail development is a part of urban development and, therefore, has direct implications for the quality of life in cities. In emerging economies, cities like Citlalicalli have vibrant town centers which provide convenient access to offices, shops, and entertainment areas for its citizens. This study concludes that appropriate policy measures can ensure the coexistence of large and small retailers in developing countries and, thereby, the continued vitality of city centers

Theoretische Untersuchungen Kovalenter Mechanochemie

This thesis is concerned with computational-chemistry investigations of mechanoresponsive molecules which feature predetermined breaking points (PBPs). The mechanophoric systems have been approached at different levels of theory. Reactive molecular dynamics (rMD), density functional theory (DFT), second order Møller-Plesset perturbation theory (MP2) and multireference methods were employed to obtain a complete picture of the mechanochemical reactions.Die vorliegende Arbeit befasst sich mit der Untersuchung von mechanoresponsiven Molekülen, die molekulare Sollbruchstellen (PBPs) enhalten, mit Methoden der Computerchemie. In Abhängigkeit von den jeweiligen Fragestellungen kamen dabei unterschiedliche Methoden zum Einsatz. Reaktive molekulare Dynamik (rMD), Dichtefunktionaltheorie (DFT), Møller-Plesset Störungstheorie zweiter Ordnung (MP2) und Multireferenzverfahren wurden verwendet, um ein vollständiges Bild der mechanochemischen Reaktionen zu erhalten

Canadian Regulatory Standards and Governance of Children’s Advertising Practices

Entrenched in signifying practices, advertising is more than a brand selling its products or services to an audience; it is an indication of wider social and cultural structures, relationships, and processes. For children, advertising has invariably deep consequences, in that its ubiquity can form the social contours of childhood and act as a site for broad cultural negotiations. Through a historical survey of children’s cultural sentimentalization and the simultaneous formation of their hypercommercialized media environment, this thesis is attentive to the role that Canadian public policy and legislation play in regulating child-directed commercial messaging, and how this governance fundamentally shapes, and is shaped by, discursive tropes of the child consumer. Emphasis is placed on investigating how boundaries of contemporary product placement regimes are set, as they operate across both broadcast television and streaming services in Canada. This research also contemplates a more general inquiry into policies pertaining to the food and beverage industry. As the Canadian media landscape is the focus of this research, Advertising Standards Canada (“ASC”) and the Canadian Radio-television and Telecommunications Commission (“CRTC”) are examined to highlight the complicated and political nature of policy-making. Doing so acknowledges the ways in which institutions draw on social categories, resources, and meanings, which simultaneously mould the individual and their relationship with the state. Competing jurisdictions, namely the British and American industries, are used as points of comparison

Portland Daily Press: September 10, 1900

https://digitalmaine.com/pdp_1900/1214/thumbnail.jp