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Full Value (full + value)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting75%

Selected Abstracts

Payout Policy Pedagogy: What Matters and Why

EUROPEAN FINANCIAL MANAGEMENT, Issue 1 2007
Harry DeAngelo
G35; G32; H25 Abstract This paper argues that we should abandonMM (1961)irrelevance as the foundation for teaching payout policy, and instead emphasise the need to distribute the full value generated by investment policy (,full payout'). Because MM's assumptions restrict payouts to an optimum, their irrelevance theorem does not provide the appropriate prescription for managerial behaviour. A simple example clarifies why the correct prescription is ,full payout', and why both payout and investment policy matter even absent agency costs (DeAngelo and DeAngelo, 2006). A simple life-cycle generalisation explains the main stylised facts about the payout policies of US and European firms. [source]

Opportunistic multiuser scheduling with reduced feedback load

EUROPEAN TRANSACTIONS ON TELECOMMUNICATIONS, Issue 4 2010
Yahya S. Al-HarthiArticle first published online: 27 MAY 2010
In this paper, we propose a reduced feedback opportunistic scheduling (RFOS) algorithm that reduces the feedback load while preserving the performance of opportunistic scheduling (OS). The RFOS algorithm is a modified version of our previously proposed algorithm, the DSMUDiv algorithm. The main difference is that RFOS consists of a probing process (search process) and a requesting feedback process based on a threshold. The threshold value is variable, and it depends on the probing process. To reduce the feedback rate, a quantised value indicating the modulation level is fed back, instead of the full value of the signal-to-noise ratio (SNR), which we call quantised SNR. The paper includes the closed-form expressions of the probing load, feedback load and spectral efficiency. In addition, we investigate the effect of the scheduling delay on the system throughput (STH). Under slow Rayleigh fading assumption, we compare RFOS algorithm with the DSMUDiv and optimal (full feedback load) selective diversity scheduling algorithms. Copyright © 2010 John Wiley & Sons, Ltd. [source]

Full absorption: The good, the bad, and the ugly

JOURNAL OF CORPORATE ACCOUNTING & FINANCE, Issue 3 2008
Alan Vercio
There are good, bad, and ugly uses associated with full absorption costing. Good characteristics include ensuring that all dollars are accounted for. Bad characteristics include combining costs that do not have similar cost driver patterns. Ugly characteristics include decisions made with fully absorbed cost data that combines different drivers. Financial accounting inventory valuation forces us to combine unlike drivers of cost. But there is a relatively easy way to manage around this for internal reporting. An unfortunate outcome of letting the bad and the ugly creep into the full-absorption costing process is that the value of full absorption has been undermined, and consultants often recommend not using full absorption for decision making (a case of throwing the baby out with the bathwater). This article provides insight and recommendations for getting the full value from full-absorption costing. © 2008 Wiley Periodicals, Inc. [source]

Lessons Learned: Obtaining Value from Federal Asset Sales

PUBLIC BUDGETING AND FINANCE, Issue 1 2003
Thomas H. Stanton
If the government decides to sell assets, how can it obtain full value? Four case studies provide valuable lessons: (1) sale of the Elk Hills oil field by the U.S. Department of Energy, (2) sales of loans and property by the Resolution Trust Corporation (RTC) after the savings and loan debacle, (3) loan asset sales by the Small Business Administration (SBA), and (4) excess property sales by the Defense Reutilization and Management Service (DRMS). The federal government should create an office to assist agencies that seek to develop effective asset sales programs. [source]