Financial Value Research Articles

Self-administered sexual health testing in an open prison setting: a pilot health impact assessment and social return on investment analysis.

The sexual health of the male prison population is often among the poorest in a country. This paper aims to identify the wider health impacts and social value of a sexual health self-sampling programme offered to male prisoners in an open prison setting in Wales. This study applied a unique pilot approach of using Health Impact Assessment and Social Return on Investment Frameworks in tandem. Key stakeholder groups affected by the intervention were identified, and engaged with through workshops, interviews and questionnaires to identify and quantify the health impacts and wider outcomes. Outcomes were then valued using proxy financial values to present the overall estimated social value of the self-sampling service. Based on a small sample, results indicate that for every £1 spent on the self-sampling service in the prison, a potential value of £4.14 was created. This resulted in a ratio of £4.14:£1. Approximately one-third of the value created (£1,517.95) was categorised as monetarily returnable, whereas the remaining value (£3,260.40) was purely illustrative social value, for example improved mental well-being. This unique pilot study demonstrates the health impacts and wider social value of providing a self-sampling sexual health service to prisoners within an open prison setting. By innovatively testing the feasibility of using a Health Impact Assessment process alongside Social Return on Investment analyses, this paper has outlined how the frameworks can be used in synergy to illustrate not just direct return on investment but also the social value of providing such a service.

Imbalanced Value Perception Enhances Secondhand Luxury Purchase: Evidence From Chinese Consumers

ABSTRACTThe secondhand luxury market has experienced significant growth in the past few years. Unlike the well‐known knowledge on consumers' luxury consumption, the motivations for purchasing secondhand luxury items remain underexplored. To address this gap, the present study examines how and when Chinese consumers' perceived values affect their purchase intention of secondhand luxury products. We propose that the imbalanced luxury value perception is superior to the balanced one in boosting customer purchase. This hypothesis received convergent support from two studies adopting different methodologies. Specifically, Study 1 was a lab experiment that verified that the imbalance value perception, that is, either a salient financial or symbolic value of a secondhand luxury product, can increase consumers' purchase intention. However, when the two values are highlighted, purchase intention decreases instead. Furthermore, Study 2 adopted a questionnaire survey to test the moderating effects of product risks. Specifically, when the level of product quality (fit) risk is high, a financial‐focused (symbolic‐focused) imbalanced value perception is most effective in improving consumers' purchase intention. This study contributes to the literature on luxury value and risk perception and benefits the marketing practice of secondhand luxury.

Corporate Sustainability Reporting and Financial Performance: An Empirical Analysis of Indian Listed Companies

This empirical analysis examines the relationship between corporate sustainability reporting and financial performance among Indian listed companies. In recent years, sustainability has gained prominence in corporate strategy due to increasing regulatory requirements, investor interest, and stakeholder expectations. The study explores how sustainability reporting, as disclosed through corporate sustainability reports (CSR), affects the financial performance of companies. Using a sample of Indian companies listed on major stock exchanges, the study analyzes data on sustainability disclosures, financial performance indicators (such as return on assets, return on equity, and market valuation), and various control variables. The analysis employs statistical methods, including regression models, to identify the correlation and potential causal linkages between sustainability reporting and financial performance. The findings suggest a positive relationship between comprehensive sustainability reporting and financial performance, indicating that companies with better sustainability practices tend to experience higher financial returns and market valuation. The results also highlight the role of regulatory frameworks, industry-specific factors, and company size in shaping the strength of this relationship. This study contributes to the growing body of literature on corporate sustainability by providing insights specific to the Indian context, where sustainability reporting practices are evolving. It suggests that companies engaging in transparent and detailed sustainability reporting may achieve not only environmental and social benefits but also financial gains, making sustainability a strategic priority for long-term value creation.

A novel life-cycle analysis framework to assess the performances of tall buildings considering the climate change

Structural performance against wind hazards is necessary in modern tall building design, especially for structures in the region prone to tropical cyclones. In fact, wind-related failures and building life-cycle analysis (LCA) may be impacted by climate change on the increase of frequency and intensity of tropical cyclones. In this study, a novel LCA framework considering the climate change is proposed, which includes taking into account the climate change via the serviceability failure cost for the cases where the building vibrates exceeding the corresponding thresholds. In detail, the non-stationary Poisson process is used to model the occurrence and intensity of tropical cyclones, which in turn leads to the financial loss of the coastal building. Specifically, the vulnerability of the building is derived considering both the uncertainty of the extreme wind speeds in the tropical cyclone boundary layer and the fragility curve which includes the uncertainty from the structural damping ratio. To estimate the maintenance cost, the financial values associated with maintenance-related operations and the emission of greenhouse gas are combined. In order to illustrate the proposed LCA framework, a case study targeting a 240 m high benchmark building located close to the coast of Hong Kong is conducted. In addition, the sensitivity of the damping ratio, limit threshold, and climate change are assessed via the LCA results of the benchmark building.

Talking ourselves up: reframing learning development to reflect our expertise

The way universities frame Learning Development (LD) has profound implications for the field’s pedagogy, status, autonomy and evolution. These variables affect the value that LD releases to staff and students. Framing involves ‘foregrounding certain perspectives and ruling out others’ to characterise a phenomenon (Jones, 2010, p.242). Learning developers’ ‘palpable reluctance’ to advocate for their expertise (Webster, 2022, p.181) contributes to the field often being framed externally. This session guided attendees on how to constructively challenge and redefine the framings at university level, using my doctoral data (Johnson, 2023). It included analysis of framing discourse about LD on UK universities’ websites, of the value of LD to students and staff in one university, and of how the two related. LD can be framed as a combination of skills development, human development and subject-embedded instruction (Hallett, 2010). The university website discourse lacked quantity and detail about the embedded framing, while strongly representing the skills framing. The skills framing correlated with stakeholders perceiving LD as delivering functional (financial) value, while the humanistic framing added social and emotional value. Only the embedded framing encouraged perceptions of LD as adding knowledge – a.k.a. epistemic value (terminology from Sheth et al., 1991, adapted for higher education [HE] by LeBlanc and Nguyen, 1999). I therefore argued LD teams should advocate for a reframing of their work which better calibrates and explains all three discourses. As the stakeholder data illustrated, this enhanced perception increases students’ and staff’s inclination to engage with LD (conditional value), leading to greater value release.

Analysing the Impact of Capital Structure on Firm Value: A Study in Corporate Finance

Abstract: This study investigates the relationship between capital structure and firm value across various industries. Using a cross-sectional quantitative analysis, the research examines how different levels of debt, equity, and financial leverage affect firm value, measured by market capitalization and Tobin's Q. The findings suggest that firms with moderate debt levels experience enhanced firm value, benefiting from the tax shields provided by debt without incurring significant financial distress. However, excessive financial leverage negatively impacts firm value, as firms face increased risk of financial instability. The study supports key theories such as the trade-off theory and pecking order theory, demonstrating that capital structure decisions are influenced by factors such as firm size, profitability, and industry characteristics. The implications for corporate managers and investors include optimizing debt-equity balance to maximize firm value while managing financial risk. Future research should focus on industry-specific dynamics and longitudinal analyses to further explore these relationships.

Dimorphandra gardneriana Tul. (Fabaceae): Medicinal and Industrial Potential of a Brazilian Plant with Pharmacological and Bioactive Properties

The traditional use of medicinal plants, particularly in the Middle East and Asia, highlights the historical and contemporary importance of these herbs in the treatment of various diseases and infections. Among these plants, the Fabaceae family stands out for its incredible diversity and significant therapeutic potential, including the genus Dimorphandra, which has demonstrated remarkable efficacy in several studies. Known as fava d'anta, Dimorphandra gardneriana is a plant native to Brazil with significant pharmacological properties, due to the presence of rutin, a flavonoid with anti-inflammatory and antioxidant effects. This study aims to consolidate data on Dimorphandra gardneriana, reviewing its chemical constituents, biological activities, and pharmacological properties to provide a comprehensive overview of its medicinal potential. The review was conducted based on published material and new data collected through databases such as MEDLINE, PUBMED, and SCOPUS. The process included defining the topic, inclusion/exclusion criteria, extraction and classification of studies, evaluation, and interpretation of the results. The analysis revealed that Dimorphandra gardneriana contains several bioactive compounds, such as rutin, galactomannans, and quercetin. These compounds have demonstrated antioxidant, anti-inflammatory, and antimicrobial properties. Combined with their use in advanced controlled release technologies and the application of silver nanoparticles, these properties highlight their value not only in natural medicine but also in industry. These promising characteristics indicate potential future biological activities in various fields of scientific and technological research, with the potential to significantly contribute to the development of new treatments and innovative products in diverse areas of well-being and other sectors, in addition to presenting significant financial value.

The Impact of Capital Structure, Company Size, and Good Corporate Governance on Financial Performance and Company Value

This study aims to resolve the inconsistencies in prior research regarding the effects of capital structure, firm size, and good corporate governance (GCG) on company value. Additionally, it investigates the moderating role of corporate social responsibility (CSR) in the relationship between financial performance and company value, offering new insights into this dynamic interaction. This study utilizes a saturated sample or census approach, including all population members, due to the small population size and the researcher's ability to access the required data. Data from 71 manufacturing companies listed on the Indonesia Stock Exchange (IDX) between 2018 and 2022 were obtained from their financial statements and annual reports. A quantitative analysis was conducted using Partial Least Square (PLS) regression with the SmartPLS 4.0 software. The results indicate that capital structure, company size, and GCG significantly impact financial performance. Additionally, capital structure was found to significantly affect company value, while company size and GCG did not. Financial performance significantly influenced company value, but CSR did not directly affect company value and did not moderate the relationship between financial performance and company value.

The role of consumer-based brand equity on the prolongation of trademarks

AbstractTrademarks are an integral part of a firm’s brand equity. While extant research looked at the outcomes of trademarks, e.g., a firm’s financial valuation, profitability, and productivity, limited knowledge exists regarding the factors influencing a company’s decision to prolong or terminate trademarks. For the first time, the presented research investigates the effects of consumer-based brand equity (CBBE) dimensions on the decision to prolong or terminate trademarks and how trademark characteristics and the level of regulation in a product category moderate these effects. Utilizing a unique dataset covering 25 countries and 56 product categories from 2001 to 2019, tracking 1,446 trademarks, this research establishes empirical evidence for CBBE’s critical role in trademark prolongations. The CBBE dimension relevant stature (reflecting brand knowledge, esteem, and relevance) positively affects trademark prolongation, whereas the CBBE dimension energized differentiation (reflecting brand uniqueness) negatively impacts trademark prolongation. Specifically, brand-association trademarks and trademark age attenuate the negative effect of energized differentiation on trademark prolongation. Moreover, low levels of regulation reduce the probability of trademark prolongation for brands scoring high on knowledge, esteem, and relevance. Vice versa, low levels of regulation increase the probability of trademark prolongation for highly differentiated brands. These results translate into important managerial implications.

A Financial Analysis and Valuation of Pfizer

Abstract: The rational valuation of the healthcare industry and the analysis and research of the financial risks faced by enterprises can not only provide a basis for rational investment and transaction pricing decisions, but also help enterprises to find out the shortcomings of the production and operation, so as to improve the management mode of the enterprise, and help enterprises to achieve the maximisation of management. Firstly, this paper analyse the risks faced by Pfizer from a financial point of view by quantitatively comparing the data of Pfizer and its two competitors, Amgen and Unitedhealth Group, and then qualitatively analysing their characteristics in terms of liquidity, solvency and profitability and the reasons for this. Next, Pfizer is valued by looking at its leverage, business risk, earnings per share, etc. to measure the financial risk of the business and the reasons for the capital structure. It then gives investors an objective investment recommendation by forecasting Pfizer's future share price. The study concludes that Pfizer Inc. is illiquid, has poor corporate solvency, is at risk of debt servicing, and has suffered a significant decline in profitability. Valuing Pfizer, the forecast suggests that Pfizer's stock is currently undervalued.

A Financial Analysis and Valuation of Apple, Inc.

Abstract: This paper will take an in-depth look at Apple's financial performance and provide a detailed comparative analysis with its main competitors. Apple, as the world's leading technology giant, has always been known for its innovative products and strong market influence. However, in an increasingly competitive tech industry, continued financial health is key to its success. This paper first compares the performance of Apple and its competitors in key financial indicators such as liquidity, debt repayment ability and profitability. This comparison not only reveals Apple's financial position in the industry, but also helps us understand its robustness in responding to market movements. Next, this paper analyzes Apple's financial report of the latest year in detail, and deeply discusses the change trend of its revenue, expenditure, profit and other key financial data. This analysis is able to capture Apple's financial performance and strategy in the face of global economic fluctuations and changes in market demand. Finally, this paper will discuss Apple's business strategy and the business risks it faces. This includes its product innovation strategy, market expansion plans and potential risks due to factors such as technological change, market competition and global policy changes. Through a comprehensive analysis of Apple's business model and go-to-market strategy, this paper aims to provide a comprehensive perspective on how Apple can maintain its leadership position in a dynamic market.

A Financial Analysis and Valuation of Apple Inc.

In 2024, Apple Inc., a globally recognized technology company, faced a series of challenges in China, resulting in a poor share price performance compared to the broader market. Despite strong financial indicators elsewhere, the company's latest quarterly report, released in February, revealed disappointing results in China. While Apple achieved sales growth in all regions except Greater China, where sales fell by nearly 13% from the same period last year. The impact of these events on Apple cannot be ignored. Apple's weaker-than-expected performance in China may suggest that the company's competitiveness in this key market is being challenged. This article provides an in-depth analysis of Apple's financial performance over the past three years, comparing it to its peers to draw conclusions about the risks associated with the company's growth. Through this examination, it aims to shed light on the potential implications of Apple's struggles in the Chinese market for its overall trajectory and competitiveness.

The need for carbon finance schemes to tackle overexploitation of tropical forest wildlife.

Defaunation of tropical forests, particularly from unsustainable hunting, has diminished populations of key seed dispersers for many tree species, driving shifts in forest community composition toward small-fruited or wind-dispersed trees with low wood density. Such shifts can reduce aboveground biomass, prompting calls for overexploitation to be included in bioeconomic policy, but a synthesis of existing literature for wildlife impacts on carbon stores is lacking. We evaluated the role of wildlife in tropical forest tree recruitment and found that it was critical to tropical forest carbon dynamics. The emerging financial value of ecosystem services provided by tropical forest fauna highlights the need for carbon-based payments for ecosystem services schemes to include wildlife protection. We argue for three cost-effective actions within carbon finance schemes that can facilitate wildlife protection: support land security opportunities for Indigenous peoples and local communities; provide support for local people to protect forest fauna from overexploitation; and focus on natural regeneration in restoration projects. Incorporating defaunation in carbon-financing schemes more broadly requires an increased duration of carbon projects and an improved understanding of defaunation impacts on carbon stores and ecosystem-level models. Without urgent action to halt wildlife losses and prevent empty forest syndrome, the crucial role of tropical forests in tackling climate change may be in jeopardy.

Initial Public Offering (IPO) and Value Aggregation: a Systematic Literature Review

Objective: The objective of this study is to conduct a systematic literature review on Initial Public Offerings (IPO) and value aggregation, identifying the key articles and authors who investigate the topic. Theoretical Framework: The theoretical framework is based on life cycle, market timing, and pecking order theories, highlighting the benefits and risks of IPOs for companies, such as raising capital and increasing market value. Method: The method used was a systematic review, based on the Web of Science, focusing on articles about IPOs and value creation. Stages such as research operationalization, application of filters, and bibliometric analysis were followed. Results and Discussions: The results indicate a significant increase in the number of publications after 2007, with emphasis on the seminal work of Loughran and Ritter. The discussions reveal that most research focuses on pricing and governance aspects, with few investigations on financial value aggregation. Research Implications: The research implications suggest the need for future studies focusing on the financial impact of IPOs, especially in emerging markets. Originality/Value: The originality and value of this work lie in the systematization of a vast literature on IPOs and the identification of gaps for future research

Echoes of Speculation Underway in Relations Between the Occident and China

In a previous article I talked about speculative waves in sequence that have hit the global economy since the 2000s in a world struggling with deflation. Well, this wave of speculation has not stopped but today it seems to concern the transfer of industrial plants from the West to China. A process that was born with the good intentions of transferring industrial activities to developing countries with the dual objective. Give a boost to the economy in developing areas and at the same time reduce the management costs of large multinationals' plants. A process therefore that was born with a positive sign in the intent to help a coordinated development of the territories and a reduction in the costs of industrial products. Meanwhile, the objective of coordinating the development of the territories and continents has not been achieved and on the contrary the process has led to an almost exclusive delocalization of industrial production from the West to China. The excess of industrial localization has exacerbated the concentration of unassimilable waste with a worsening of the disease of the planet struggling with atmospheric overheating. The process, therefore, has been slowed down but not stopped for natural reasons. On the other hand, the acceleration of the development of the Chinese economy has also marked a halt coinciding with the spread of the global epidemic. After about fifty years of accelerated economic growth, the Chinese community has sensed the change in the country's economic prospects and has pulled the brakes on both consumption and investments, marking the end of the accelerated race on the road to development. The picture of the speculative evolution of industrial delocalization processes sees together the interest of mega companies in reducing management costs which is congenial to the increase in the financial values of companies that increase on the Western stock exchanges. In other words, delocalization helps reduce management costs and at the same time seems to support ultra increasing financial values. In short, it plays into the hands of speculation which is certainly not the interest of global social and economic development which instead requires coordination of the territories on the road to development. With the further dilemma that the fate of the global economy may be in the hands of the Boards of Directors of mega companies and not of states and communities.​

Mechanical Microvibration Device Enhancing Immunohistochemistry Efficiency.

Immunohistochemistry (IHC) is a widely used technique in diagnostic pathology and biomedical research, but there is still a need to shorten the operation process and reduce the cost of antibodies. This study aims to assess a novel IHC technique that incorporates mechanical microvibration (MMV) to expedite the process, reduce antibody consumption, and enhance staining quality. MMV was generated using coin vibration motors attached to glass slides mounted with consecutive tissue sections. Multiple antibodies targeting various antigens were used to stain cancerous and normal tissues, with and without microvibration. Various parameters were tested, including incubation durations, temperatures, and antibody dilutions. The novel method showed the potential to achieve comparable or superior outcomes in significantly less time, utilizing over 10 times less antibody than controls. MMV improved specific staining quality, yielding stronger, and better-defined positive reactions. This was validated through a multicenter double-blind assessment and quantitative image analysis. The possible mechanisms were also investigated. MMV shortens immunohistochemical staining duration, reduces antibody usage, and enhances staining specificity, likely by accelerating antibody movement and diffusion. These improvements translate to time and cost savings, offering clinical and financial value for diagnostic pathology and biomedical research.

A Financial Analysis and Valuation of Shell

In todays era of global energy transition, the strategic choices made by energy giants like Shell carry immense significance, shaping not only their own future blueprint but also profoundly influencing the overall energy sectors trends. The article provides a comprehensive analysis of Shell plc with liquidity, solvency, profitability, and valuation analysis of 2023 with its main competitors in the oil and gas industry. Despite facing challenges from fluctuating commodity prices and regulatory changes, Shell maintains a competitive advantage and favorable market position. The company demonstrates robust financial health, with strong liquidity, solvency, and profitability ratios compared to industry peers. Nevertheless, the analysis reveals the companys profitability ratios lag behind competitors, indicating room for improvement. Although facing uncertainties in future commodity prices and regulatory environments, the analysis highlights Shells commitment to balancing environmental goals with shareholder value, as evidenced by its energy transition strategy. Shells stock is still fairly valued according to the analysis, presenting a compelling investment opportunity with its well-constructed financial framework. Overall, Shells strategic plans and adjustments aim to ensure resilience and adaptability, promising investors sustainable development amidst evolving market dynamics.

A Financial Analysis and Valuation of Netflix

As the streaming competition has intensified in recent years, Netflix has maintained its highest subscriber base since its inception, and research has shown that Netflix's success has had a significant impact on investors making the right investment decisions. This paper examines why Netflix, a streaming platform, outperforms its competitors. Choose Comcast; the other four most prominent companies in the entertainment industry, Walt Disney, Paramount Global, and WBD, perform a comparative analysis of financial data on liquidity, solvency, and profitability. The conclusion is that Netflix has plenty of liquidity, significant even available funds, robust debt management, and excellent profitability. Based on valuation analysis, it can be seen that Netflix has managed both its _A and financial performance well and has a range of operational strategies. However, considering the unknown market changes (such as stronger competitors and a possible slowdown in its user growth), its stock price is considered to be overvalued when taking all factors into account.

A Study on the Relationship Between Corporate ESG Performance and Overall Corporate Performance: An Analysis of the Mediating Effect of Information Transparency

This paper aims to explore the impact of ESG (Environmental, Social, and Governance) information transparency on corporate performance, with a particular focus on its mediating effect in corporate governance and the fulfillment of social responsibilities. Through an in-depth analysis, this study seeks to reveal how ESG information transparency enhances corporate governance and social responsibility, ultimately influencing financial performance and market value. A quantitative research approach is adopted, selecting several listed companies as samples and collecting their ESG reports and financial data. By constructing a model, the relationships between ESG information transparency, corporate governance, social responsibility fulfillment, and overall corporate performance are analyzed. Data sources include corporate annual reports, ESG reports, and relevant databases. Path analysis and mediation effect tests are employed to ensure the reliability and validity of the research results. This study not only examines the mediating effect of ESG information transparency on corporate performance but also delves into the moderating roles of corporate governance and social responsibility fulfillment. The findings provide essential theoretical support for companies formulating ESG strategies and offer substantial references for policymakers and investors.

A Company Analysis and Financial Valuation of Sinopec

In this article, a comprehensive analysis of Sinopec is presented, delving beyond surface evaluations to deeply assess its strengths, weaknesses, and potential opportunities. Recognizing the limitations of superficial evaluations, the analysis incorporates financial insights to quantify the risks faced by Sinopec. Additionally, two comparable companies are scrutinized to provide a broader context for evaluation. Through meticulous data comparison, coupled with an examination of policies and pricing mechanisms, a nuanced understanding of Sinopec's position in the market emerges. While acknowledging areas where Sinopec may lag behind its competitors, the analysis underscores its promising developmental trajectory and investment potential. Despite identified weaknesses, Sinopec exhibits resilience and strategic positioning that warrant investor attention. Consequently, the article advocates for Sinopec as an attractive investment option, emphasizing its favorable prospects and priority for investment. By offering a multifaceted examination that integrates financial analysis, industry context, and strategic outlook, this article equips investors with a comprehensive understanding of Sinopec's standing in the market, ultimately advocating for its consideration as a compelling investment opportunity.