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This study focuses on digital operational knowledge belonging to natural persons and proposes a greenfield approach to differentiate the value of intangibles from that of human intellectual capital. Our research approach involves two assessments. Assessment 1 evaluates intangible assets using the internally generated goodwill (IGG) measure. We analyze time-series IGG data for six digital sectors, using the top 90 software-as-a-service (SaaS) companies as a benchmark. The results indicate that the IGG of the SaaS benchmark is higher than the total IGG of the six sectors. Assessment 2 focuses on the correlation between digital labor investment and digital investment returns before and after 2013 for the six sectors to identify positive and negative correlations from 2013 onward. The results indicate that, since 2013, a qualitative change has occurred in digital labor capital that has not been reflected in financial statements because of accounting distortions and that the returns on investment for digital labor have been underestimated. The standalone valuation of digital know-how that belongs to natural persons, previously based on operating expense, will be based on capital expenditure. In addition, amortization will have the same contribution as depreciation of tangible assets to value creation.

This study presents an ecosystem-services-mapping tool that calculates the monetary value of several ecosystem services (ES) provided from an area comprising both MPAs (Marine Protected Areas) and non-managed areas. Findings in the UK South West Marine Management Organisation (MMO) Plan Area show that different MPAs yield high value estimates and that activities are grouped in certain areas, with the Severn Estuary and surrounding Site(s) of Special Scientific Interest (SSSI) attracting the most recreational anglers, despite having lower water quality. This can be explained by increased nutrient levels, which enhance biological activity and yet do not cause oxygen depletion. The yearly value of the ecosystem service of carbon sequestration and storage in the area is estimated between £16 and £62 thousand. Proximity to large urban areas and shallow waters appear to be the most appealing factors for anglers, while proximity with France can be associated with the high fishing effort in the southwest of the study area. We show that the use of a tool integrating a willingness-to-pay function with high spatial resolution layers and associated monetary values can be used for short-term marine spatial planning and management.

Many countries in West Asia, defined in this study as the Arabic-speaking countries of the Arabian Peninsula plus Turkey and Iran, have enacted environmental conservation laws but regional underlying drivers of environment change, such as rising incomes and fast-growing populations, continue to put pressure on remaining wetlands. This paper aims to inform conservation efforts by presenting the first regional assessment of the economic value of coastal and freshwater wetlands in West Asia. Using scenario analysis we find that, dependent on the discount rate used, the present value of the regional economic loss of not protecting wetlands by 2050 is between US dollar 2.3 billion and US dollar 7.2 billion (expressed in 2007 US dollars). The method used for this assessment, however, is not suitable for expressing national realities adequately. We therefore suggest that detailed localized studies are conducted to improve insight into the drivers and the social and economic effects of wetland loss in West Asia.

With the expected discontinuation of the LIBOR publication, a robust fallback for related financial instruments is paramount. In recent months, several consultations have taken place on the subject. The results of the first ISDA consultation have been published in November 2018 and a new one just finished at the time of writing. This note describes issues associated to the proposed approaches and potential alternative approaches in the framework and the context of quantitative finance. It evidences a clear lack of details and lack of measurability of the proposed approaches which would not be achievable in practice. It also describes the potential of asymmetrical information between market participants coming from the adjustment spread computation. In the opinion of this author, a fundamental revision of the fallback’s foundations is required.