Expert-based estimation is the most common and preferred method to estimate the effort for software development project because it is fast, less expensive and reasonably accuracy. Expert software developers use his intuition and experience during effort estimation task. Estimation by analogy of features is also used to compare the new feature to similar in past development. This paper extends r...

The widespread use of accounting information by investors and financial analysts to help value stocks creates an incentive for managers to manipulate earnings in an attempt to influence short-term stock price performance. This paper examines the role of earnings management in affecting a firm’s cost of capital. Using an agency model with multiple firms whose cash flows are correlated, we demons...

Does information asymmetry among traders of a firm’s stock increase its cost of capital? We first show that institutional traders in the Shanghai Stock Exchange have a strong information advantage. We then show that past aggressiveness of institutional trading in a stock is a good predictor of institutions’ current and future information advantage in this stock. Sorting stocks on this predictor...

The response of business capital to user costs is central to economic evaluations of tax and monetary policies. Despite intensive research effort though, no consensus about the size of this elasticity has been achieved. The divergence in prior estimates may arise because previous studies have neglected cointegration among capital, its user costs, and sales. Using German firm-level panel data, t...

We examine the relation between inventory investment and the cost of capital in the time series and the cross section. We find consistent evidence that risk premiums, rather than real interest rates, are strongly negatively related to future inventory growth at the aggregate, industry, and firm levels. The effect is stronger for firms in industries that produce durables rather than nondurables,...

The recently introduced Part IIIA of the Trade Practices Act 1974 establishes a legal regime under which third parties can in certain circumstances obtain a right of access to services provided by certain essential facilities on fair and reasonable grounds. The policy underlying the regime is set out in the report by the Independent Committee of Inquiry on National Competition Policy (the ‘Hilm...

before making decisions about the investment and financing the companies. it is necessary to know how the value of a company is determined. in this article three valuation methods are discussed: 1) value dirver method. 2) free cash flow method 3) economic value added method. in these methods the factors affecting the value of companies such as operating rate of return, cost of capital. amount o...

This paper presents a cost and performance measurement system that integrates the Activity-Based Costing (ABC) method with the Economic Value Added value-based financial performance measure. This proposed ABC-andEVA system is an engineering management tool that helps to successfully manage cost and capital. It allows enterprise leaders to create shareholder value through cost structure improvem...

This paper describes a field study which examines the implementation of an integrated ActivityBased Costing and Economic Value Added System in two small manufacturing firms. The results of this study suggest that this integrated approach outperforms both traditional cost accounting and standard Activity-Based Costing methods. Furthermore, the findings from two small companies show that the reli...