Maximizing economic earnings is the most common goal in cut-off grade optimization of open-pit mining operations. When this is the case, the price of the product has a critical effect on optimum value of cut-off grade. This paper investigates the relationship between optimum cut-off grade and price to maximize total cash flow and net percent value (NPV) of operation. In order to visualize this ...

In this paper, we model cash flow and consumption growth rates as a vectorautoregression (VAR), from which we measure the response of cash flow growth to consumption shocks. As the appropriate cash flow proxy is not unambiguous, nor likely to be measured without error, we consider three alternatives for portfolio cash flows: cash dividends, dividends plus repurchases and corporate earnings. We ...

In this paper, a dynamic terms of sale model is developed which suggests deep cash discounts can be partially explained by the positive relationship between the shadow value of sales and the optimal cash discount. The effect of sales volume uncertainty on the magnitude of cash discounts is also explored. Numerical results suggest the relationship between uncertainty and cash discounts is nonlin...

In this article, the authors strengthen the chain of effects that link customer satisfaction to shareholder value by establishing the link between satisfaction and two characteristics of future cash flows that determine the value of the firm to shareholders: growth and stability. Using longitudinal American Customer Satisfaction Index and COMPUSTAT data and hierarchical Bayesian estimation, the...

Recent studies have used the value spread as a predictor of aggregate stock returns to construct cash-flow betas that appear to explain the size and value anomalies. Our evidence suggests that the value spread is not a useful predictor of returns. Two related variables, the book-to-market spread — the book-to-market of value stocks minus that of growth stocks — and the market-to-book spread — t...

We provide the first direct estimates of how agents trade off immediate costs and uncertain future benefits that occur in the very long run, 100 or more years away. We find that very longrun discount rates are low, much lower than implied by most economic theory. We estimate these discount rates by exploiting a unique feature of residential housing markets in England, Wales and Singapore, where...

This research aims to verify and analyze the correlation between Accounting Profit, Operating Cash Flow, Book Value of Equity Against Stock Prices. Causal associative is this type with a population manufacturing companies on Food Beverage Companie sub-sector listed IDX from 2017-2019. Pusposive sampling technique used as many 36 samples. Documentation data collection method used, multiple linea...

This work aims to evaluate the value of operating assets generation company Omega Geração S.A., listed on Brazilian stock exchange (B3), under code OMGE3. In which, carry out calculation equity value, business analysis tools through asset Valuation (specifically discounted cash flow approach) were used. order model study, financial statements for years 2016 2020 used make assumptions projection...

The paper presents an alternative and original method for establishing the present worth and feasibility of a capital investment where the underlying parameters of interest/discount rate, cash flows and investment lifespan are uncertain. The method, based on Markov chains, complements existing and useful practices such as sensitivity analysis, Monte Carlo simulation, Hillier style probabilistic...