Model2: with BVt/P
목적: BVt/P를 또 다른 예측 변수로 도입함으로써 Vf/P와 Vo/P가 미래의 초과 수익에 대하여, BV에는 반영되지 않은 새로운 정보를 주는지 검증
과정: BV/P, V/P를 동시에 변수로 두고 회귀분석하여 각각의 계수가 통계학적으로 유의미한 값인지 확인
Ret36=a0+a1Vf/P+a2BVt/P+et
Ret36=a0+a1Vo/P+a2B
not have an absolute advantage. When each country exports the product in which it has a comparative advantage, all the countries engaging in trade would experience an increase in welfare.
The theory of ‘comparative advantage’ was a revolutionary idea at that time, and even today, its logic is used to support and promote global free trade.
2. Testing the Ricardian Model: Empirical Analysis
The estimate of Ideko’s continuation value
can be combined with the forecasts for free
x
cash flow through 2010 to estimate Ideko’s
value today using the APV valuation model.
If firm’s sales are expected to grow at a nominal rate g and the firm’s operating expenses remain a fixed percentage of sales, then its unlevered net income will also grow at rate g.
Similarly, the firm
Redesigning the Customer Database : Dirt Bikes USA
1. Business analysis
• Dirt Bikes USA sells primarly through its distributors.
• Distributors maintain a small customer databases with the following data : customer name, address, telephon number, model purchased, date of purchase, and distributor.
• Dirt Bikes would like to be able to market more aggressively to its
and try to draw a comparison between them. Among various models, which address the competitiveness of firms, we will use the general diamond model (Porter, 1990) in order to assess the competitiveness of Wal-Mart and E-Mart. Also, to incorporate the obvious cultural factors, we will used Hofstede’s(1983) cultural dimension model. Finally, we will give the several propositions to make the Wal-Ma