Home  About us  Contact
 

Revenue Growth (revenue + growth)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting80%

Selected Abstracts

Downsizing: The cure that can kill

GLOBAL BUSINESS AND ORGANIZATIONAL EXCELLENCE, Issue 6 2009
William F. Roth
In a tough economy, many U.S. businesses turn to downsizing as a quick cost-cutting strategy. The author argues that the price isn't worth it, and that operational effectiveness, not efficiency, is the key to survival. The author discusses the systemic effects of downsizing and the impact on longer-term productivity. He cites alternatives to downsizing taken by Nugget Market, Dorner Mfg. Corp., and Lincoln Electric and then explores the case of an organization that rejected layoffs and instead utilized all its employees' expertise to design and implement improvements that produced increased productivity, revenue growth, and higher profitability. © 2009 Wiley Periodicals, Inc. [source]

Using Nonfinancial Measures to Assess Fraud Risk

JOURNAL OF ACCOUNTING RESEARCH, Issue 5 2009
JOSEPH F. BRAZEL
ABSTRACT This study examines whether auditors can effectively use nonfinancial measures (NFMs) to assess the reasonableness of financial performance and, thereby, help detect financial statement fraud (hereafter, fraud). If auditors or other interested parties (e.g., directors, lenders, investors, or regulators) can identify NFMs (e.g., facilities growth) that are correlated with financial measures (e.g., revenue growth), inconsistent patterns between the NFMs and financial measures can be used to detect firms with high fraud risk. We find that the,difference,between financial and nonfinancial performance is significantly greater for firms that committed fraud than for their nonfraud competitors. We also find that this difference is a significant fraud indicator when included in a model containing variables that have previously been linked to the likelihood of fraud. Overall, our results provide empirical evidence suggesting that NFMs can be effectively used to assess fraud risk. [source]

Real Options: Meeting the Georgetown Challange

JOURNAL OF APPLIED CORPORATE FINANCE, Issue 2 2005
Thomas E. Copeland
In response to the demand for a single, generally accepted real options methodology, this article proposes a four-step process leading to a practical solution to most applications of real option analysis. The first step is familiar: calculate the standard net present value of the project assuming no managerial flexibility, which results in a value estimate (and a "branch" of a decision tree) for each year of the project's life. The second step estimates the volatility of the value of the project and produces a value tree designed to capture the main sources of uncertainty. Note that the authors focus on the uncertainty about overall project value, which is driven by uncertainty in revenue growth, operating margins, operating leverage, input costs, and technology. The key point here is that, in contrast to many real options approaches, none of these variables taken alone is assumed to be a reliable surrogate for the uncertainty of the project itself. For example, in assessing the option value of a proven oil reserve, the relevant measure of volatility is the volatility not of oil prices, but of the value of the operating entity,that is, the project value without leverage. The third step attempts to capture managerial flexibility using a decision "tree" that illustrates the decisions to be made, their possible outcomes, and their corresponding probabilities. The article illustrate various kinds of applications, including a phased investment in a chemical plant (which is treated as a compound option) and an investment in a peak-load power plant (a switching option with changing variance, which precludes the use of constant risk-neutral probabilities as in standard decision tree analysis). The fourth and final step uses a "no-arbitrage" approach to form a replicating portfolio with the same payouts as the real option. For most corporate investment projects, it is impossible to locate a "twin security" that trades in the market. In the absence of such a security, the conventional NPV of a project (again, without flexibility) is the best candidate for a perfectly correlated underlying asset because it represents management's best estimate of value based on the expected cash flows of the project. [source]

Measuring the ROI of a coaching intervention, Part 2

PERFORMANCE IMPROVEMENT, Issue 10 2007
Jack J. Phillips
This article, the second of a two-part series, describes a case study application of the ROI MethodologyŌ. In this case, a structured coaching program was implemented as part of a comprehensive performance improvement solution designed to improve efficiency, customer satisfaction, and revenue growth for Nations Hotel Corporation. This case study provides critical insights into how a project was systemically designed, delivered, and measured to create performance value, including a return on investment. [source]

Private tax collection,remnant of the past or a way forward?

PUBLIC ADMINISTRATION & DEVELOPMENT, Issue 4 2006
Evidence from rural Uganda
Abstract This article examines the growing role and impacts of private tax collection under fiscal decentralisation in Uganda. Based on evidence from six rural councils, three aspects of privatised tax collection are examined: (i) the impact on the nature of fiscal corruption; (ii) the problem of overzealous collection; and (iii) the challenge of assessing revenue potentials. While possibly meeting short-term demands for local revenue growth and stability, the present form of private tax collection appears to transform the nature of fiscal corruption by reducing corruption at collection point and transferring the problem into the district administration. Moreover, while the charge of overzealousness permeates historical and theoretical work on privatised tax collection, the Ugandan experience casts doubt on its general validity. Instead, perverse distributional effects are the most likely cause of deteriorating state-citizen relations in rural Uganda. Finally, the article considers the merit of the prediction of private collection as a preferred contractual choice for certain indirect taxes, suggesting that problems of asymmetric information in assessing the revenue yields of most rural markets are exaggerated. Copyright © 2006 John Wiley & Sons, Ltd. [source]