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2. Literature Review2.1. Prior Research on Operating and Maintenance Costs; 2.2. Containerships and Their Costs; 3. Hypotheses; 3.1. Age; 3.2. Size; 3.3. Stay Days; 3.4. Market Conditions; 3.5. Owners' Negotiating Capacity; 4. Data and Methodology; 4.1. Data Collected; 4.2. Methodology; 5. Discussion of Results; Conclusion; References; Chapter 6: Discounted Cash Flows through Expertons in Business Valuation Process; Abstract; 1. Introduction; 2. Preliminaries; 2.1. Literature Review in Business Valuation; 2.2. Fuzzy Methodology in Business Valuation; 3. Fuzzy Methodology for Uncertainty.

AbstractIn this paper, we use a sample of 894 banks from 79 countries to develop a multicriteria decision aid model, for the classification of banks into three groups on the basis of their soundness. The model is developed with the UTilités Additives DIScriminantes (UTADIS) method, through a 10‐fold cross‐validation procedure using six financial and four non‐financial variables. The ratings of Fitch form the basis for assigning banks into the three groups. The results indicate that the asset quality (as measured by loan loss provisions), capitalization, and the market where banks operate are the most important criteria (in terms of weights) in classifying the banks. Profitability and efficiency in expenses management are also important attributes, whereas size and listing in a stock exchange are the least important ones. UTADIS achieves higher classification accuracies than discriminant analysis and ordinary logistic regression which are used for benchmarking purposes. Copyright © 2007 John Wiley & Sons, Ltd.

Summarization: All UK companies are required by company law to prepare financial statements that must comply with law and accounting standards. With the exception of very small companies, financial accounts must then be audited by UK registered auditors who must express an opinion on whether these statements are free from material misstatements, and have been prepared in accordance with legislation and relevant accounting standards (unqualified opinion) or not (qualified opinion). The objective of the present study is to explore the potentials of developing multicriteria decision aid models for reproducing, as accurately as possible, the auditors' opinion on the financial statements of the firms. A sample of 625 company audited years with qualified statements and 625 ones with unqualified financial statements over the period 1998–2003 from 823 manufacturing private and public companies is being used in contrast to most of the previous works in the UK that have mainly focused on very small or very large public companies. Furthermore, the models are being developed and tested using the walk-forward approach as opposed to previous studies that employ simple holdout tests or resampling techniques. Discriminant analysis and logit analysis are also used for comparison purposes. The out-of-time and out-of-sample testing results indicate that the two multicriteria decision aid techniques achieve almost equal classification accuracies and are both more efficient than discriminant and logit analysis. ; Presented on: European Journal of Operational Research