This study analyzes the limitations of EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) Multiple from perspective going concern principle. A new Adjusted that complements is generated applied to real-world cases for comparison. used assess if target company undervalued or overvalued; adjusted determine time taken recover total acquisition cost a in an M&A transaction. Sam...

We consider the problem of source and content authentication in video streaming applications in multicast satellite networks. In particular we propose a novel method which combines signature amortization by means of hash chain with watermarking techniques. This approach does not introduce bandwidth overhead and computational overhead is reduced using signature amortization by means of an hash c...

Predictability of Asset Returns and the Efficient Market Hypothesis This paper is concerned with empirical and theoretical basis of the Efficient Market Hypothesis (EMH). The paper begins with an overview of the statistical properties of asset returns at different frequencies (daily, weekly and monthly), and considers the evidence on return predictability, risk aversion and market efficiency. T...

Amortization is the algorithmic idea of distributing computational cost over a period of time. The terminology comes from home mortgages: most Americans pay for a home by taking out a long-term loan called a home mortgage. This loan is repaid monthly, over the period of the loan. In an amortized analysis of an algorithm, we likewise spread the cost of an operation over the entire run of the alg...

Purpose: This paper aims to develop a corporate failure prediction model for construction companies in Poland that allow assessing their financial situation and credit risk. Design/Methodology/Approach: For this purpose, the following research methods have been used, descriptive comparative analysis, subject literature review, logit anal-ysis. The Polish companies' data come from Emerging Marke...

This paper investigates the impact of asset liquidity on the valuation of corporate securities and the firm’s financing decisions. I show that asset liquidity increases debt capacity only when bond covenants restrict the disposition of assets. By contrast, I demonstrate that, with unsecured debt, greater liquidity increases credit spreads on corporate debt and reduces optimal leverage. The mode...

Many algorithms amount to a sequence of operations on a data structure. For instance, the well-known heapsort algorithm is a sequence of insert’s into an initially empty priority queue, followed by a sequence of deleteMin’s from the queue until it is empty. Thus if ci is the cost of the ith operation, the algorithm’s running time is ∑2n i=1 ci, since there are 2n operations for sorting n elemen...

An economical analysis of the LPCVD hot wall tubular reactor functioning is presented including equipment amortization, clean room location, supplies, maintenance, labor, gas and energy consumption. From a technical point of view, CVDl model is used to characterise the phenomena involved during polysilicon deposition, linking growth rate distribution to operating conditions. An optimization is ...

• EBITDA increased 23% in real terms during the third quarter to Ps.4.463 billion. In dollar terms, EBITDA grew 34% to US$477 million during the third quarter as compared to US$355 million during the same period a year ago. EBITDA, with respect to the CEMEX Group, equals operating income before amortization expense plus depreciation. Amortization of goodwill is not included in operating income,...