1,720,987 research outputs found
A New Mathematical Framework for the Balance Sheet Dynamic Modeling applied to CFaR and LaR
Full text linkIn this thesis we intend to introduce a new theoretical framework that will allow us to define a new set of balance sheet mathematical models. In the first chapter after a historical introduction about the long and close relationship between mathematics and accounting we will focus on the in depth mathematical analysis, present in literature, of the double-entry book-keeping tool. To this day the double entry bookkeeping system can be considered as the reference mathematical theoretical framework of the accounting practice and thinking. The result of this analysis, combined with the results already present in literature about the dynamic representation of the balance sheet through first order finite difference linear systems, will enable us to introduce a new idea relating to a vector specifically built to describe the link between a single accounting item and the liquidity. We called it brick-vector since we can build a balance sheet model merging into an algebraic system the brick-vectors of all the accounting items chosen for our modelization. In order to start applying this class of models we close the first chapter presenting an averaging procedure (based on the concept of functional mean according to Chisini) that allows us to reduce the impact of the inevitably high number of variables that a balance sheet model time series brings with itself. In the second chapter we intend to show some of the possibilities offered by the brick vector formalization applying it to the problem of the cash flow risk assessment. Firstly we present a medium firm balance sheet model and we explore its closed form solution. Then we perform on the model our Chisini averaging procedure during which we present its relative mathematical shape. Finally after the introduction of a sensitivity analysis, in order to show some of the descriptive capabilities of the model, we apply it to the problem of cash flow risk assessment. We present the approaches proposed so far toward the issue of the computation of CFaR (Cash Flow at Risk) and then we propose our new methodology. It has the goal to overcome some of the main shortcomings of the previous approaches through the creation of a link between the accounting data, summarizing the firm’s business structure, and some macroeconomic drivers of particular importance. We end the chapter presenting a case study relating to Alitalia airlines where we apply the model to its balance sheet data and we perform our CFaR evaluation. In the third chapter we intend to keep on exploring the potential of the brick vector formalization applying it to the problem of the liquidity risk assessment in the banking sector. After an introduction to the issue of liquidity risk as well as that of the bank’s balance sheet modeling we present a commercial bank balance sheet model. Then we show its closed form solution and we perform our averaging procedure. We display the commercial bank balance sheet model evolution through a simulation aiming to portray the behavior of medium sized Italian commercial bank. Finally we discuss the problem of the liquidity risk assessment and we propose a new liquidity risk measure, tailored on the issue of funding liquidity, which is based on the CFaR methodology presented in the previous chapter. We called this new measure FLaR (Funding Liquidity at Risk) and through its medium-term time perspective it is meant to complement the role performed by the LaR (Liquidity at Risk) instrument in a short-term temporal perspective. We close the chapter presenting some future possible developments in the application of the brick vector framework to the liquidity risk assessment issue. Finally we conclude our thesis reviewing its content in relation to its goal to try to bridge the gap between the accounting field and other research areas of the economic science as well as the world of economic theory with that of economic practice
Budgeting models and system simulation: a dynamic approach
No full textThe main aim of this research is to introduce a new series of quantitative instruments to integrate
the set of information at the disposal of companies, obtained, to begin with, from its accounting
records.
Starting from the balance sheet, known to be the most important source of information for a
company, both at the internal and external level, we will show an initial quantitative model which
uses accounting data to represent the dynamics of the company and to create a simulation associated
with those dynamics.
Specifically, this application is based on the idea of representing the dynamics of a balance sheet
via a series of difference equations, with the a priori assumption that accounting procedures can be
mathematically axiomatized.
This new application is the result of lengthy research begun in 2008 at Verona University, and can
be considered as a synthesis and continuation of numerous results published in company literature
over the past forty years
Budgeting Models and System Simulation: A Dynamic Approach
No full textAbstract: The goal of the present paper is to create a mathematical cash budgeting model capable of providing information on the liquidity state of a company, as well as its assets and liabilities, in a dynamical perspective. The aim of this innovative tool is to originate a new class of models able to adapt to the ever-changing planning and control requirements that come from the most different economic subjects, with special regard both to the firm liquidity dynamics issues and to the IT developments. In order to create such a model, the authors have decided to move from the logical structure inherent in double entry bookkeeping practices, as well as in the financial statement and the balance sheet accounts relationships, trying to provide a mathematical formalization for them. In greater detail, this work wants to show how, upon choosing a set of accounting items suitable for the researcher purposes, bookkeeping procedures and the relationships between the aforementioned items can be described through the use of difference equations. This mathematical description will allow us to model the dynamics of the cash flow budget and at the same time the dynamics of the entire balance sheet. After choosing a set of accounting items convenient for the scope of our presentation, an example of cash flow budget is displayed together with another important feature of the present model: its closed form mathematical solution after n-periods. This solution gives us information about the financial statement as well as the whole balance sheet of an enterprise after n-periods, proving this mathematical formalization to be a possible useful tool not only to simulate the firm budget but for the most different economic and financial purposes. Moreover, this model allows the researcher and the firm management to conduct easily tests on company policies in order to obtain a deeper knowledge of the firm economic processes
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Full text linkWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Dispelling the Myths Behind First-author Citation Counts
Full text linkWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
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