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Strategic asset seeking foreign direct investment has undergone tremendous growth over the past decade. This paper first attempts to evaluate the location choice of such investments in Europe. We find that Chinese companies target strategic assets in Europe. The paper then moves to understand the efficacy of these investments in terms of the creation of strategic assets in the Chinese parent company. Our results show the intangible assets of Chinese domestic parent firms significantly increase in the wake of their investments. For greenfield investments, there is a longer time-lag in creation of intangible strategic assets than for acquisitions. However, greenfield investments result in a larger increase in intangible asset creation than acquisition investments. [ABSTRACT FROM AUTHOR]

This paper focuses on the effects of international migration on the citizens of Edo State, Nigeria, using the Bini people as its primary focus. The study examined the effect of trans-mobility on the household welfare and living standards of Bini people. It looks at the benefits or otherwise of migration for the people left at home. The results of this study were obtained by using a qualitative research approach. The qualitative approach is based on focus group discussions in the seven local government areas where the Binis are the majority; and the descriptive examination of documents that contain crucial information about the study. It therefore applied secondary sources of data collection. These sources include academic journals, books, research papers, and reputable online resources. The findings show that there is a continuous improvement in the household welfare and living standards of remittancereceiving households. There is also a glaring improvement in asset acquisitions such as plots of land, motor vehicles and houses. The quality of food and clothing improved too. Considering the household welfare and living standard improvement that international remittances have, the study concluded that they have been of immense benefit to the Bini people of Edo State in particular and the people of Edo State in general. [ABSTRACT FROM AUTHOR]

This paper investigates the relationship between firm‐level cybersecurity risk and merger and acquisition (M&A) activities of firms in the United States from 2007 to 2018. Using a novel measure of firm‐level cybersecurity risk and the multivariate regression analysis, we find empirical evidence of a positive association between M&A and cybersecurity risk. Interestingly, cybersecurity risk only increases with intangible assets acquisitions, but not with tangible assets acquisitions. Further empirical analysis shows that the impact of M&A on cybersecurity risk is moderated by technological intensity, with firms that have higher levels of research and development (R&D) intensity facing less pronounced cybersecurity risk. Our findings are robust to different variable measurements and endogeneity diagnoses. Our results deliver important implications for practitioners and policymakers and make a valuable contribution to the literature by providing a more comprehensive understanding of the relationship between M&A and cybersecurity risk and by highlighting the role of corporate innovation in mitigating this risk. [ABSTRACT FROM AUTHOR]

Purpose: This paper discusses the concept of hidden assets in the context of Disney's 2009 acquisition of the Marvel Entertainment Group (Marvel), and its value realization activities post-acquisition. Design/methodology/approach: The paper presents a hidden assets-based value realization analysis of the 2009 acquisition of Marvel by Disney. It draws on a previously published case study of that acquisition as well as further research conducted by the author. Findings: The Disney-Marvel acquisition supports the view that hidden assets-based analysis can be a powerful M&A tool and an equally powerful value realization tool when managed strategically over time. Practical implications: The Disney acquisition of Marvel is a dramatic example of how knowledge of hidden assets can be used to do a deal in a competitive marketplace and how the disciplined management of those assets over time can realize a "blue ocean" of value post-acquisition. Originality/value: This is the first paper we are aware that evaluates the hidden assets of the Disney-Marvel acquisition. It follows another paper that evaluated the acquisition (Joseph Calandro, Jr., "Disney's Marvel Acquisition: A Strategic Financial Analysis," Strategy & Leadership, Vol. 38, No. 2 (2010), pp. 42-51), which followed a paper that evaluated Marvel's 1996 bankruptcy filing (Joseph Calandro, Jr., "Distressed M&A and Corporate Strategy: Lessons from Marvel Entertainment Group's Bankruptcy," Strategy & Leadership, Vol. 37, No. 4 (2009), pp. 23-32). [ABSTRACT FROM AUTHOR]

This study examines the role of financial performance and board characteristics on corporate social responsibility expenditure (CSR expenditure hereafter). The study is based on a natural experimental design where the Government of India made it legally mandatory for companies meeting certain criteria to spend at least 2% of their average profits in the preceding three financial years towards corporate social responsibility in the companies Act 2013. It examines the propensity of companies to spend towards corporate social responsibility over and above the legal mandate. This study analyze two different schools of thought in the field of corporate social responsibility varying in their assertions. The first school of thought asserts that firms engaged aggressively in CSR expenditure would be viewed positively by the customers/prospective customers. The second school of thought asserts that CSR expenditure reduces the profit of the firm that could have been used productively for asset acquisition, and business expansion. The first school of thought focuses on the good corporate citizenship hypothesis whereas the second school of thought focuses on the efficient utilization of scarce resources hypothesis. Using a dataset of companies listed on NSE 500 index, we found a positive and statistically significant relationship between CSR expenditure and accounting‐based firm performance but a negative relationship with market based firm performance. Size of the firm has a positive relationship with firm performance, alluding to the presence of "size" effect. Board size, board independence and cumulative attendance in board meetings exhibit mixed results with firm performance. Note: A slightly different version of this paper was presented in the 15th ICBF‐2022 conference held at IBS Hyderabad in the online mode. We would like to extend our heartfelt gratitude to all the reviewers and participants whose suggestions helped improve this article. [ABSTRACT FROM AUTHOR]

The Organisation for Economic Cooperation and Development ('OECD') is currently considering best practice approaches to designing rules to prevent base erosion and profit shifting ('BEPS') by multinational enterprises ('MNEs'). However, the OECD makes a distinction between combating BEPS and reducing distortions between the tax treatment of various methods of financing.1 Yet, an unequal tax treatment can create distortions, which incentivises tax planning behaviour. Accordingly, this paper aims to improve the tax design of anti-avoidance rules governing MNEs' cross-border intercompany deductions by introducing the concept of the tax-induced cross-border funding bias. To date, the literature has focussed on the debt bias, which arises from the distortion in the tax treatment between debt and equity financing. On the other hand, the funding bias also includes licensing and leasing activities in addition to debt and equity financing. This presents a novel contribution to the literature. This paper examines the conceptual case for why it might be appropriate and feasible to restrict the tax deductibility of cross-border intercompany interest, dividends, royalties and lease payments given their mobility and fungibility. Specifically, it examines whether it is preferable for MNEs to be subject to economic rent taxation, as is attained through reform proposals such as the Allowance for Corporate Equity ('ACE'), in this context. This presents a novel proposal for taxing cross-border intercompany economic rents which aligns with the main aim of corporate tax harmonisation; namely: to reduce, if not remove, distortions relating to the taxation of cross-border intercompany activities. [ABSTRACT FROM AUTHOR]

Copyright of Business Consultant / Poslovni Konsultant is the property of FINconsult Ltd. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Investment is the acquisition of an item or asset to generate income or appreciation in the value of the item or asset. The industrial revolution popularised the idea of investing in an individual's savings. The large-scale employment of the populace made it possible for them to have savings. This paper reviews the Theory of Reasoned Action, Theory of Planned Behaviour, Regret theory, Theory of Mental Accounting, Prospect theory, Over/Under Reacting Theory and Theory of Overconfidence. These theories were extensively cited by the articles related to investment decisions in financial decisions and are therefore explored in detail. [ABSTRACT FROM AUTHOR]

A risk screening program has been developed to identify facilities that have the potential impact to public and environmental receptors. This allows the company to assess and effectively manage the risks associated with these facilities through their internal "Specialized Field Risk Management" (SFRM) program. Conducting risk screening and keeping it current in an operating environment is very challenging because of the large number of ongoing development projects, the frequent changes of operating conditions, and public encroachment on these facilities. This paper presents a systematic approach to implement and keep this risk screening program evergreen under these changing conditions. In this approach, existing project management systems such as Management of Change and Well Execution Planner were leveraged to develop and convey the risk screening workflow. In areas of concern such as public encroachment, where monitoring processes were not in place, a risk screening workflow was created to address the gap. This risk screening workflow was also integrated into asset acquisition due diligence activities to support these important business decisions. These workflows were consolidated into a single robust risk screening program managed by a centralized functional group. This program has been proven effective in identifying and avoiding potential high offsite risks in the planning stage of a project, as well as to help manage these risks through the asset's life cycle. [ABSTRACT FROM AUTHOR]

The paper describes the HGN performance model and its verification at four selected mining companies from the results of 2020. We abstract from the predictive ability of the HGN model. The analysis focuses on the impact of one of the six indicators affecting the efficiency and overall financial performance of the company to generalize the findings of this analysis. We focused on the potential possibilities of modifying one of the indicators affecting efficiency as part of the evaluation of the company's financial performance by applying it to selected companies in the mining industry. It confirms the hypothesis, which assumes a more objective impact on the evaluation of efficiency by including the asset in its acquisition price compared to the asset in the residual price. In other woords, the hypothesis of the need to include the asset in its total volume in its acquisition price was confirmed. This is vitally important for a more objective assessment of efficiency and for better comparisons between companies. The residual price would improve turnover and thus the performance of companies with outdated technical and technological equipment. More fundamental changes in the content of some indicators entering the HGN model will also require a reassessment of the performance interval. [ABSTRACT FROM AUTHOR]

Prior studies on chief executive officer (CEO) compensation focus mainly on large firms. This paper aims to suggest new factors associated with CEO compensation for small, homogeneous firms, specifically, Australian early‐stage mining exploration entities (MEEs). We document a set of predictors of CEO compensation proxying for economic performance, including geological prospectivity components of the exploration and evaluation (E&E) asset account and proceeds from equity raisings that enhances survival probabilities. We find positive associations between these predictors and CEO remuneration. In terms of CEO pay mix, we find that E&E asset acquisitions and equity proceeds are both positively associated with the proportion of option value in CEO total compensation. This suggests MEEs allocate their cash resources to investment opportunities, rather than CEO compensation. Overall, these findings, coupled with a significant and positive pay‐performance relation, provide evidence supporting efficient compensation practices in the MEE context. [ABSTRACT FROM AUTHOR]

Rural areas are taking an important and significant share of the EU. Bulgaria is not an exception and it is important to periodically review and analyze Rural areas' progress on certain parameters, such as GDP per capita, foreign direct investments, tangible fixed assets acquisition costs, coefficient of economic activity, etc. The main goal of this article is to review the progress for a period of 5 years in the typically Rural areas in Bulgaria according to classification NUTS 3 and draw possible future goals for better regional and rural development. The research is based on the official national statistics in Bulgaria and Eurostat. After processing the data, main results are showing higher statistical values in some of the analysed parameters, like GDP and average output of nonfinancial enterprises. We can conclude that even these results are better in last few years, there is need of more stable tendency, so we can consider the typical rural areas as fast developing regions in Bulgaria. [ABSTRACT FROM AUTHOR]

We examine the role of non-venture private equity (PE) firms as intermediaries in the market for corporate assets. We argue that, in order to create and capture value by acquiring established businesses and selling them to corporate buyers, PE firms must possess at least one of three potential advantages: (a) they must be able to identify businesses that are currently undervalued (valuation advantage), (b) they must be able to enhance the intrinsic value of the business (governance advantage), or (c) they must be able to match the business to a more synergistic corporate owner than is immediately available (timing advantage). We discuss why, and under what conditions, PE firms may thus have an advantage in buying, owning, and selling businesses, and derive a set of propositions predicting which targets PE firms are most likely to pursue. Our study thus offers a comprehensive yet contingent theory of non-venture PE, developing an integrated value-based framework to explain this important and growing phenomenon. In doing so, we also offer new insights into the role of intermediaries in strategic factor markets, especially the market for the buying and selling of businesses. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to investigate the consequences of mergers and acquisitions (M&As) on information asymmetry in the banking sector. Specifically, the authors look at whether specific firm or deal characteristic influence information asymmetry levels between insiders and investors, as well as the impact of recent regulation such as the Dodd–Frank Act. Design/methodology/approach: The authors decompose the M&A process into three periods (pre-announcement, negotiation and post-completion period) and document changes in the information asymmetry levels between insiders and investors through the M&A process. The authors capture changes in information asymmetry using six different spread-based information asymmetry measures. Findings: The authors find evidence that information asymmetry increases following M&A announcement and decreases following deal completion. These findings are more pronounced for acquisitions involving a private target, all-cash deals and for mergers, as opposed to acquisition of assets. We find that overall, successful mergers improve the quality of the information environment, while failed deals degrade it. Additionally, the enactment of Dodd–Frank reduced the magnitude of the changes in information asymmetry during the M&A process. The results are important to regulators, policy makers and investors. Originality/value: To authors' knowledge, this is the first study that looks at the effect of bank M&As on information asymmetry as well as the effect of regulations on information asymmetry. [ABSTRACT FROM AUTHOR]

This paper evaluates the macroeconomic effects of the Eurosystem's expanded asset purchase programme (APP) under alternative assumptions about (i) unwinding the asset positions accumulated under the APP and (ii) current and future paths of the policy rate (forward guidance). To this purpose, we simulate a New Keynesian model of the euro area (EA). Our results are as follows. First, if the monetary authority brings forward the unwinding of its long-term sovereign bond holdings, the stimulus from the APP on inflation and economic activity is correspondingly reduced. Second, if the monetary authority communicates that the policy rate will be held constant for 1 year instead of 2, the APP would be less effective and the increase in inflation would be halved. Third, an early exit from bond holding subdues the impact of the APP, delaying the normalization of monetary policy conditions after a negative EA-wide demand shock. [ABSTRACT FROM AUTHOR]

This paper addresses a case study regarding inventory models for acquiring liquefied petroleum gas (LPG) cylinders. This is an industrial challenge that was proposed at an European Study Group with Industry, by a Portuguese energy company, for which the LPG cylinder is the main asset of its LPG business. Due to the importance of this asset, an acquisition plan must be defined in order to determine the amount of LPG cylinders to acquire, and when to acquire them, in order to optimize the investment. As cylinders are returned and refilled, the reverse logistic flows of these assets must be considered. As the classical inventory models are not suitable for this case study, three new inventory models, which account for the return of LPG cylinders, are proposed in this work. The first proposed model considers deterministic constant demand and continuous returns of LPG cylinders, with discrete replenishment from the supplier. The second model is similar, but for the case when the returned cylinders cover for the demand. A third model is also proposed considering that both the demand and the returns are stochastic in nature and the replenishment from the supplier is discrete. The three models address different scenarios that the company is either currently facing or is expecting to occur in the near future. [ABSTRACT FROM AUTHOR]

This paper investigated key areas in which environmental, social and governance issues may be important in M&A transactions, with a particular emphasis on the Serbian food industry. The analysis was conducted using a sample of 11 realized M&As in the Republic of Serbia with the food producers as target companies and is based on the data acquired from the targets' annual reports and web sites. The analysed transactions, that have been randomly elected, belong to different legal types of M&A: acquisition of asset, acquisition of shares, tender offer and merger/consolidation. Following the classification of sustainability issues, two types of M&A in the Serbian food industry have been distinguished: one enables the acquirer to build the presence in the key segments with sustainability products in line with modern health trends, while the other helps the buyer to improve synergies and consolidate leadership position by acquiring target with a recognized sustainability profile and credibility. [ABSTRACT FROM AUTHOR]

Greater access and sustainable flow of credit is critical for empowerment of poor. The credit needs of the rural poor are determined by a complex social economic profile where it is difficult to adopt lending approach as usually followed by banks. Despite rapid expansion of financial system still the dependence of the unbanked on money lenders continues in some areas. Under this circumstances a non-formal agency for credit supply to poor, in the form of Self Help Group could emerge as a promising partner to the formal credit system. A livelihood is sustainable when it enables people to cope with and recover from vulnerabilities, shocks, and stresses. SHG has emerged as one of the most important tools of socio economic development particularly which are aimed at women’s empowerment, livelihood strengthening and poverty alleviation. This paper highlights how SHGs access to these livelihood assets influenced by political, social, and institutional framework which affects rural poor as how they are accessing the livelihood assets by adopting livelihood strategies. The impact indicators like occupation of the SHG members, credit utilization and asset acquisition has been studied in this research paper. [ABSTRACT FROM AUTHOR]

The rate of recovery of stolen and hidden assets from fraud and other schemes is low. This paper explores two steps of the investigative sequence in pursuing domestic (onshore) asset recovery when the objective is to recover specific assets (or their equivalent value) lost to fraud or hidden for some other purpose: asset identification and location (tracing) and asset freezing. Before pursuing asset tracing and freezing, an attorney, a forensic accountant, and a client must consider various factors, including the cost and likelihood of recovery, as well as whether there are third parties (e.g., banks, lawyers, and accountants) from whom recovery may be sought. It is necessary to obtain certain basic identifying information for any suspect or target, as well as their associates, relatives, and friends. This information can be gleaned from electronic databases, surveillance, covert operations, interviews, and other sources. This article also covers the places where assets can be hidden, as well as the various asset freezing measures available in the U.S., such as attachment, replevin, garnishment, lis pendens, and injunctions. Numerous useful websites and databases are noted throughout the paper (a list is available as a downloadable Word document, see Appendix A). The article concludes with an analysis of the importance of protecting the attorney-client privilege for a non-testifying forensic accountant. [ABSTRACT FROM AUTHOR]

Purpose: Referring to "behavioural finance" and "normative model" theories, this study explores the relative significance of behavioural heuristic biases in the investment decisions of real estate investment trusts (REITs) when compared with the conventional normative decision factors, with an ultimate aim to identify the significant behavioural factors that should be avoided to ensure rational asset acquisitions and market efficiency. Design/methodology/approach: A triangulation approach was adopted. Qualitative multiple case studies were conducted, with four cases selected from Australian and New Zealand REITs across the industry, to identify what normative and behavioural finance factors are involved in investment decisions. This formed the basis for the subsequent expert review survey to explore how significant the behavioural factors were manifested in the judgement when compared with the normative factors. Findings: Three out of four theoretical behavioural factors manifested themselves in the investment decisions: investor sentiment, anchoring factors and overconfidence. The overall impact of these three behavioural factors was that they were as significant as normative factors in investment decisions. The heuristic availability of information was found to have no significant effect on experienced REIT fund managers. Research limitations/implications: The findings were based on four multiple cases and an expert review survey of six frontline fund managers, which form a baseline upon which further research can be conducted to widen the scope of research to cover all REITs in Australasia so that the results can become more robust to benefit the entire market in the region. Practical implications: As behavioural factors are significant in the decision-making process, REIT fund managers should raise awareness to avoid the significant behavioural factors identified, in particular investor sentiment, which was found to be the most significant one. Originality/value: This study confirms the relative significance of behavioural factors in property investment decisions within the context of Australasian REITs and alerts fund managers to the ways they should follow to ensure rational investments and market efficiency. It also extends the scale of existing studies to cover not only Australia but also New Zealand for the benefit of the entire Australasian market. [ABSTRACT FROM AUTHOR]

This paper studies the problem of tangible assets acquisition within the company by proposing a new hybrid model that uses linear programming and fuzzy numbers. Regarding linear programming, two methods were implemented in the model, namely: the graphical method and the primal simplex algorithm. This hybrid model is proposed for solving investment decision problems, based on decision variables, objective function coefficients, and a matrix of constraints, all of them presented in the form of triangular fuzzy numbers. Solving the primal simplex algorithm using fuzzy numbers and coefficients, allowed the results of the linear programming problem to also be in the form of fuzzy variables. The fuzzy variables compared to the crisp variables allow the determination of optimal intervals for which the objective function has values depending on the fuzzy variables. The major advantage of this model is that the results are presented as value ranges that intervene in the decision-making process. Thus, the company's decision makers can select any of the result values as they satisfy two basic requirements namely: minimizing/maximizing the objective function and satisfying the basic requirements regarding the constraints resulting from the company's activity. The paper is accompanied by a practical example. [ABSTRACT FROM AUTHOR]

Copyright of Pacha: Revista de Estudios Contemporáneos del Sur Global is the property of PACHA REVISTA DE ESTUDIOS CONTEMPORANEOS DEL SUR GLOBAL and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In asset management for energy portfolios, quantitative methodologies are typically employed. In Brazil, the NEWAVE computational model is universally used to generate scenarios of hydraulic production and future prices, which result in revenue distributions. These distributions are then used to estimate the portfolio's revenue and assess its risk. Although this is a well-established analysis, it has some shortcomings that are not always considered. The validity of the revenue series constructed by NEWAVE, especially in long-term analysis, is a real problem for agents concerning the acquisition of assets such as power plants. Another issue is the disregard for other objectives that are important for the operationality of the management task and are often ignored, such as operational risk. To address these limitations, this work combines the areas of multicriteria decision making under uncertainty and risk management and presents a methodology for evaluating the acquisition of long-term energy assets, as well as a practical application of the proposed method. Investment alternatives are evaluated in multiple developed scenarios, so it is possible to measure how robust a given option is. By analyzing several scenarios simultaneously, a larger region of uncertainties can be covered, and therefore, decision making becomes more secure. The proposed methodology includes six objectives, designed to address a wider range of stakeholder needs. This approach is applied to an illustrative portfolio, producing results that allow for a more comprehensive understanding of decision attributes. Therefore, this work not only addresses the current limitations in the field but also adds an original contribution by considering simultaneously several scenarios and integrating multiple objectives in a robust and secure decision-making framework. [ABSTRACT FROM AUTHOR]

We shed light on the drivers and consequences of turnover in human resources for the U.K. football industry. We employ an event study using daily panel data of player transfers for a group of listed U.K. football clubs. Our results suggest asymmetric wealth effects: the acquisition of players is associated with negative abnormal club stock returns while player sales have an opposite effect. According to our findings, shareholders perceive that football managers overpay to acquire human resources. Our discussion draws possible links to the corporate finance literature which deals with the purchase and sale of firms and assets. [ABSTRACT FROM AUTHOR]

We study the effects of the announcements of ECB asset purchases and of financial stability measures in the euro area in the wake of the global financial crisis and the euro area sovereign debt crisis on 10-year government bond term premia in 11 euro area countries. We find that the term premia of euro area countries with higher sovereign risk, as measured by sovereign CDS spreads, decreased more in response to the announcements of asset purchases and financial stability measures. Term premia of countries with lowest sovereign risk either increased as in Germany, or were not significantly affected or fell slightly, as in the Netherlands and Finland. [ABSTRACT FROM AUTHOR]

Prefabricated construction has become increasingly popular over the recent years, given its benefits including higher construction speed, lower cost, and improved quality. To facilitate the operations of prefabricated construction, various technologies have in parallel been introduced. However, due to its project-based feature and the involvement of numerous Small and Medium Enterprises (SMEs), the adoption of information technologies is insufficient and varies between SMEs, thereby hindering the improvement of the efficiency of prefabricated construction. Considering these issues and aiming at realizing lean prefabricated construction, this paper proposes an integrated cloud-based Internet of Things (IoT) platform through exploiting the concept of cloud asset. Its operation model has also been worked out to enable SMEs to adopt IoT technologies economically and flexibly. Besides, to make the platform compatible and scalable on managing diverse physical assets in different companies and scenarios, a unified cloud asset data model is proposed. Furthermore, an IoT service-sharing module is developed to support different levels of service-sharing on the platform. Finally, a real-life prefabricated construction project in Hong Kong and several lab-based LEGO construction models are adopted to verify the feasibility and effectiveness of the proposed platform. [ABSTRACT FROM AUTHOR]

We examine the determinants of vertical acquisitions using product text linked to product vocabulary from input-output tables. We find that the innovation stage is important in understanding vertical integration. R&D-intensive firms are less likely to become targets of vertical acquisitions. In contrast, firms with patented innovation are more likely to sell to vertically related buyers. Firms' R&D intensity is a more important deterrent to their vertical acquisitions when the provision of innovation incentives by potential acquirers is more difficult. The role of patents in fostering vertical acquisitions is more prevalent when potential buyers face a higher risk of holdup. (JEL G32, G34, L22, L25, O34) [ABSTRACT FROM AUTHOR]

This paper addresses the problem of buying an asset at its expected globally minimal price, to that end, we model it as an optimal stopping problem with regime switching driven by a continuous-time Markov chain. We characterize the optimal stopping time by optimizing the value functions and writing them as solutions of a system of integral equations. Finally we develop a stochastic recursive algorithm for numerical implementation. [ABSTRACT FROM AUTHOR]

The importance of data assets as intangible corporate assets is being emphasized as more business activities based on digital technology are being carried out. This study proposes the development of a data valuation model that can enable companies to use data assets as collateral for loans in financial transactions. To this end, a model was designed with a focus on the cost approach, which is less likely to involve arbitrariness and error among other valuation model approaches. Furthermore, a model simulation was conducted after securing transaction data of a Korean secondhand marketplace provider. Among the total costs of this marketplace provider, the cost of using data reflecting the ratio of data activities was derived, focusing on financial statements and tangible and intangible assets for the last five years. The data asset acquisition costs were derived, and the data replacement costs were calculated by reflecting the past price and wage growth rates. The results revealed that simulation companies could use a total of KRW 26.8 billion worth of data as collateral for a loan. Accordingly, the data valuation model developed in this study will contribute to reinforcing the value of corporate data assets and proposing a new means of corporate financing. [ABSTRACT FROM AUTHOR]

We use required 8-K filings around major borrowings to shed light on firms' choices of whether to comply with SEC disclosure rules. Exploiting within-firm variation, we find that firms are more likely to hide loans with high spreads and tight financial covenants. We further find that firms appear to exploit the ambiguity of the definition of materiality, as they are more likely to selectively disclose (hide) "immaterial" loans when interest rates are low (high). Firms are less likely to hide loans when investors anticipate borrowing during asset acquisition, when firms are followed by more equity analysts or receive more investor attention, and when the firms' stock prices are more volatile. Lastly, we provide evidence that the SEC does not rigorously enforce compliance with 8-K loan disclosures. [ABSTRACT FROM AUTHOR]

The article introduces the use of modern indoor mobile mapping systems (iMMS) equipped with a high resolution photographic camera, for the realization of asset acquisition campaigns of large building sites and for the generation of Digital Twins. The mapping project of a large part of the social housing real estate of the Municipality of Milan is taken as an example. The technical specifications and management methods of the 3D measurement and photographic acquisition processes in the field and the processing workflow, quality testing/certification and way to share on the cloud the Digital Twins are described. [ABSTRACT FROM AUTHOR]

The managerial optimism literature concentrates on CEOs neglecting other executive team members. We evaluate the interplay of the optimism levels of the CEOs and CFOs of real estate investment trusts, and study their commercial real estate transactions. We find that firms led by optimistic CEO/CFO teams pay 3% more than their peers for their asset acquisitions if cash ratio increases by one percentage point. Our findings also exhibit inferior stock performance by optimistic teams following a transaction. Conversely, diversity in terms of CEO/CFO optimism prevents firms from overpaying, serving as a soft governance mechanism with salience to firm performance. [ABSTRACT FROM AUTHOR]

Background: Mobile delivery of apheresis services is an increasingly important component of health care equity, as patients should not have to transfer care providers or travel far distances to receive critical therapeutic apheresis procedures or cell therapy‐based treatments. Therefore, the availability of such services should be expanded. Study design and methods: In this "How Do I" article, we provide a detailed overview of the elements necessary to initiate and maintain a successful mobile apheresis service, including challenges and potential solutions. Results: Safe and efficient operation of a mobile apheresis service must consider acquisition of physical assets, such as apheresis sites, personnel, equipment and supplies, communication devices, and transportation vehicles, and optimize organizational aspects, such as staff responsibilities, service partnerships, logistics management, case scheduling and triage, and billing. In the era of cellular therapy, additional critical considerations include regulatory compliance and facility accreditation. Discussion: To our knowledge, no previous publication provides the extensive details described herein to set up and maintain a successful mobile apheresis service, and thus will be very helpful to those facilities wishing to initiate or expand mobile apheresis services. [ABSTRACT FROM AUTHOR]