299 research outputs found
EVA and shareholder value creation: an empirical study
In recent years, a variant of residual income often called Economic Value Added
(EVA)' or Economic Income (EI) has become a popular concern in academia and
business communities. This study investigates the general hypothesis that EVA is more highly associated with shareholder wealth and firm values than are traditional
performance measures. Two commonly used value-based performance metrics namely,
Total Shareholder Return (TSR) and Tobin's Q are also considered to highlight the valuerelevance of EVA vis-a-vis these measures in predicting shareholder wealth.
Using a sample of panel data of around 12,000 firm-year observations taken from
the Stem Stewart 1000 EVA/MVA database and the DATASTREAM file over the period
1991-2002, this study finds compelling evidence that shareholder value is a function of EVA. This study also provides evidence consistent with the notion that EVA outperforms other traditional performance measures in explaining shareholder wealth. Valuerelevance tests reveal EVA to be more highly associated with shareholder wealth than
TSR and Tobin's Q. The incremental tests also suggest that EVA possesses the largest explanatory power (or information usefulness) over TSR and Tobin's Q. These results conclusively support the claims made by EVA proponents and further support the
potential usefulness of the EVA metric for internal and external performance
Considerações sobre a dedução de débitos tributários incorridos através de parcelamento na apuração do imposto de renda das empresas (lucro real)
EVA and shareholder value creation : an empirical study
In recent years, a variant of residual income often called Economic Value Added (EVA)' or Economic Income (EI) has become a popular concern in academia and business communities. This study investigates the general hypothesis that EVA is more highly associated with shareholder wealth and firm values than are traditional performance measures. Two commonly used value-based performance metrics namely, Total Shareholder Return (TSR) and Tobin's Q are also considered to highlight the valuerelevance of EVA vis-a-vis these measures in predicting shareholder wealth. Using a sample of panel data of around 12,000 firm-year observations taken from the Stem Stewart 1000 EVA/MVA database and the DATASTREAM file over the period 1991-2002, this study finds compelling evidence that shareholder value is a function of EVA. This study also provides evidence consistent with the notion that EVA outperforms other traditional performance measures in explaining shareholder wealth. Valuerelevance tests reveal EVA to be more highly associated with shareholder wealth than TSR and Tobin's Q. The incremental tests also suggest that EVA possesses the largest explanatory power (or information usefulness) over TSR and Tobin's Q. These results conclusively support the claims made by EVA proponents and further support the potential usefulness of the EVA metric for internal and external performance.EThOS - Electronic Theses Online ServiceGBUnited Kingdo
Contratos coligados e o reconhecimento adequado de receitas tributáveis = Linked contracts and the proper recognition of income for tax purposes
Blood-brain barrier pericyte importance in malignant gliomas: What we can learn from stroke and Alzheimer's disease
The pericyte, a constitutive component of the central nervous system, is a poorly understood cell type that envelops the endothelial cell with the intended purpose of regulating vascular flow and endothelial cell permeability. Previous studies of pericyte function have been limited to a small number of disease processes such as ischemic stroke and Alzheimer's disease. Recently, publications have postulated a link between glioma stem cell differentiation and pericyte function. These studies suggest that there may be an important interaction of pericytes with tumor cells and other components of the tumor microenvironment in malignant primary glial neoplasms, most notably glioblastoma. This potential cellular interaction underscores the need to pursue more investigations of pericytes in malignant brain tumor biology. In this review, we summarize the functional roles of pericytes, particularly focusing on changes in pericyte biology during response to immune cells, inflammation, and hypoxic conditions. The information presented is based on the available data from studies of pericyte function in other central nervous system diseases but will serve as a foundation for research investigations to further understand the role of pericytes in malignant gliomas
A contribution of environmental psychology to the discussion of behavioral aspects of post-occupancy evaluation
The understanding of human behavior in the environment is one of the main contributions of environmental psychology to the post-occupancy evaluation (POE), especially in terms of developing observation techniques, such as behavioral traces, behavioral mapping, and behavior-setting analysis. Based on this premise, this paper brings an overview of this field and discusses its potential applications in architectonic and urbanistic proposals.A compreensão do comportamento humano no ambiente é uma das principais contribuições da psicologia ambiental à avaliação pós-ocupação, sobretudo no que se refere ao desenvolvimento de técnicas de observação, como vestígios de comportamento, mapeamento comportamental e a análise de behavior settings. Baseando-se nesse pressuposto, o artigo traça um panorama geral da área e discute a potencialidade de seu rebatimento em propostas arquitetônicas e urbanísticas.La comprensión del comportamiento humano en el ambiente es una de las principales contribuciones de la psicología ambiental a la evaluación post-ocupación, principalmente en lo que se refiere al desenvolvimiento de técnicas de observación, como vestigios de comportamiento, mapeamiento comportamental y análisis de behavior settings. Con base en este supuesto, el texto dibuja un panorama general del área y discute la potencialidad de su análisis en propuestas arquitectónicas y urbanas
Combining ability and heterosis in single crosses derived from some local maize (Zea mays L.) inbred lines
This study was conducted to assess the grain yield, combining ability and heterosis of some local maize (Zea mays L.) inbred lines and then hybrids. Experiments were carried out during autumn in 2008 at Gezira Research Station (GRS) and Matuq Research Station (MRS) of the Agricultural Research Corporation (ARC), Sudan, in a randomized complete block design with three replications. Combining ability was studied among 8 (4 white and 4 yellow) local inbred lines of maize and their 28 F1 crosses. Most of the parents were late flowering except L-11 and L-12. Results of mean grain yield performance showed that crosses L-11×L-7 and L-14×L-7 were the best at GRS with means of 6229 and 6147 kg ha, respectively; while at MRS, crosses L-14× L-3 and L-7× L-1 were the best with mean grain yields of 3929 and 3860 kg/ha, respectively. Combined analysis of variance across sites identified L-3×L-7 and L-14×L-7 as the top grain yielders coupled with earliness and short plant height. Combining ability analysis revealed that non-additive genetic effects were more important for the measured traits. Lines L-7 and L-1 showed the best GCA effects for grain yield and 100 kernels weight in GRS, while L-11 and L-13 in MRS. Lines L-9, L-12 and L-11 were good general combiners for earliness. Maximum heterosis for grain yield (79.2%) was obtained in the cross L-14xL-7 at GRS, while L-14xL-3 at MRS (218.1%). At both locations, crosses L-14xL-7, L-14xL-3, L-1xL-9, L-14xL-9 and L-11xL-3 were the best specific combiners (SCA) for grain yield that associated with good SCA effects and heterotic pattern. Hence, these hybrids could be recommended for further testing in multi-location trails to confirm the consistency of their grain yield.
نفذت هذه الدراسة لتقدير الأداء، القدرة على التوافق وقوة الهجين في سلالات ذرة شامية محلية ذاتية التلقيح. زرعت التجارب في خريف 2008 في محطتي بحوث الجزيرة ومعتوق، هيئة البحوث الزراعية، السودان. استخدم تصميم القطاعات العشوائية الكاملة مع ثلاث مكررات. درست القدرة على التوافق لـ 8 سلالات (4 بيضاء و 4 صفراء) ذاتية التلقيح و28 هجين ناتج منها من خلال التهجين المتبادل والذي طبق في موسم الخريف، 2007. معظم الآباء كانت متأخرة بالإزهار ما عدا L-11 وL-12. أظهرت الهجن L-11×L-7 وL-14×L7 أفضل أداء للغلة الحبية في محطة بحوث الجزيرة مع متوسطات 6229 و6137 كغ/هـ، على التوالي، بينما في محطة بحوث معتوق L-14×L-3 وL-7×L-1 كانت الأفضل مع متوسطات 3929 و 3860 كغ/هـ، على التوالي. أظهرت الهجن L- 3×L-7 و L-14×L-7 أفضل أداء للغلة الحبية مترافق مع البكور وقصر النبات. التأثيرات الوراثية الغير تراكمية (Non- additive) كانت أكثر أهمية للصفات المدروسة. أظهرت السلالات L-7 و L-1 أفضل قدرة عامة على التوافق للغلة الحبية ووزن الـ 100 حبة في محطة بحوث الجزيرة أما L-13 وL- 11 في محطة بحوث معتوق. كانت السلالات 9L-، L-12 و L-11 ذات قدرة جيدة عامة على التوافق للبكور. أعطى الهجين L-14×L7 أفضل قوة هجين ((% 79.2 للغلة الحبية في محطة بحوث الجزيرة وبينما سجل الهجين L-14×L-3 أعلى قوة هجين (% 218.1) في محطة بحوث معتوق. أبدت الهجن L-14×L-7،L-14×L-3 ،L-1×L-9 ،L-14×L-9 وL-11×L-3 أفضل قدرة خاصة على التوافق مترافقة مع أفضل قوة هجين لذلك ينبغي التوصية بتقييمها في مواقع متعددة لتأكد من ثبات أداءها للغلة الحبية
Algumas ponderações acerca da desconsideração do direito à fruição da imunidade tributária por parte das entidades educacionais sem fins lucrativos
Contribuição ao estudo do lançamento de créditos tributários em face de entidades educacionais imunes. Análise a partir do regime jurídico-tributário aplicável e dos elementos da ordem econômica = Contribution to the study of the constitution of tax credits against immune educational legal entities. An analysis at the perspectives of the legal tax regime and the economic order
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