49 records from EconBiz based on author Name

1. MUTUO E ANATOCISMO : DUE PARALLELE NELLA GEOMETRIA EUCLIDEA (Loan and Anatocism: Two Parallels in the Euclidal Geometry)

abstract

Italian abstract: Gli Autori propongono una innovativa tesi sul concetto di “interessi” menzionato nell’art. 1815 c.c., cogliendone profonda diversità rispetto alla definizionecodicistica degli stessi. Hanno esaminato il tema sotto diverse prospettive:Economia, Diritto, Matematica Finanziaria, e sono giunti alla conclusione che, nelcontratto di mutuo, non può esservi anatocismo proprio perché gli “interessi”dell’art. 1815 c.c. costituiscono componente di “prezzo”, e non hanno perciò lanatura di quelli cui fa cenno l’art. 1283 c.c.English abstract: The Authors propose an innovative thesis on the concept of "interests" mentioned in art. 1815 of the Italian Civil Code, capturing the profound diversity with respect to the definition of the codes themselves. They have examined the problem under several perspectives: Economics, Law, Financial Mathematics and they come to the conclusion that, in the loan agreement, there can be no anatocism, precisely because the "interests" of art. 1815 c.c. constitute a "price" component, and therefore do not have the nature of those referred to in art. 1283 of the Italian Civil Code

Arrigoni, Bruno; Peccati, Lorenzo;
2021
Availability: Link Link

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2. Survival risk and project evaluation

Beccacece, Francesca; Gallo, Paolo; Peccati, Lorenzo;
2013
Type: Aufsatz im Buch; Book section;

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3. On the quantification and decomposition of uncertainty

Borgonovo, Emanuele; Peccati, Lorenzo;
2007
Type: Aufsatz im Buch; Book section;

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4. On the Valuation of a Growing Levered Firm

abstract

This paper analyzes the relationships between leverage and value in presence of growth.In the first part we develop a valuation model for the growing firm, adopting the Adjusted Present Value approach (from the equity side), under the assumption of certainty.In the second part, we consider an assets side analysis, equivalent to the APV approach. We find that such analysis cannot be based on the WACC, in the standard formulation, because, in order to obtain directly the equity value, we must adjust k via a factor which turns out to depend not only on l and t, but also on r,g and on k itself.Then we analyse the relationship between reinvestments and growth, via the return on equity link: in order to create value the return on investment (r), reduced by the cost of debt (lk) and the taxation (1-t), should exceed the opportunity cost of capital (k). Since reinvestment has a positive effect on future dividends , but has a negative effect on current dividends which are reduced by the reinvestment of profits, and since firm value depends on all the dividends, the effect of leverage on value is far from being predictable.We demonstrate that three different cases can occur and that an optimum leverage exists: this finding has great policy implications, stating how the creation of value depends on the firm financing decisions

Cigola, Margherita; Massari, Mario; Peccati, Lorenzo; Vulcano, Antonio; Zanetti, Laura;
2005
Availability: Link Link

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5. Managerial insights from service industry models : a new scenario decomposition method

Borgonovo, Emanuele; Peccati, Lorenzo;
2011
Type: Aufsatz in Zeitschrift; Article in journal;

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6. Finite change comparative statics for risk-coherent inventories

Borgonovo, Emanuele; Peccati, Lorenzo;
2011
Type: Aufsatz in Zeitschrift; Article in journal;

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7. Moment calculations for piecewise-defined functions : an application to stochastic optimization with coherent risk measures

Borgonovo, Emanuele; Peccati, Lorenzo;
2010
Type: Aufsatz in Zeitschrift; Article in journal;

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8. What drives value creation in investment projects? : an application of sensitivity analysis to project finance transactions

Borgonovo, Emanuele; Gatti, S.; Peccati, Lorenzo;
2010
Type: Aufsatz in Zeitschrift; Article in journal;

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9. What Drives Value Creation in Investment Projects? An Application of Sensitivity Analysis to Project Finance Transactions

abstract

Evaluating the economic attractiveness of large projects often requires the development of large and complex financial models. Model complexity can prevent management from obtaining crucial information, with the risk of a suboptimal exploitation of the modeling efforts. We propose a methodology based on the so-called ‘‘differential importance measure ðDÞ” to enhance the managerial insights obtained from financial models. We illustrate our methodology by applying it to a project finance case study. We show that the additivity property of D grants analysts and managers full flexibility in combining parameters into any group and at the desired aggregation level. We analyze investment criteria related to both the investors' and lenders' perspectives. Results indicate that exogenous factors affect investors (sponsors and lenders) in different ways, whether exogenous variables are considered individually or by groups

Borgonovo, Emanuele; Peccati, Lorenzo; Gatti, Stefano;
2010

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10. Financial management in inventory problems : risk averse vs risk neutral policies

Borgonovo, Emanuele; Peccati, Lorenzo;
2009
Type: Aufsatz in Zeitschrift; Article in journal;

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