As a show of what I have learned from Lambert and maybe of what I still have to learn I will discuss a generalisation of the elimination of left-nesting in full. PhD thesis completed in Sept 25, , resulting in a method to derive algorithms for discrete probabilistic processing “inference” in a mathematical rigorous way, which has been applied to achieve scalability with respect to the number of locations, the number of sensors, and the time interval in processing of sensor data. The advantages of this approach are e. Working Capital Management and Corporate Profitability: These factors significantly increase the use of trade credit by these start-up firms. This could imply that managers are also creating value if they keep the number of days accounts receivables to a minimum. We present a formal derivation of program schemes that are usually called Backtracking programs and Branch-and-Bound programs.

Theoretically, in a Chief Financial Officer CFO perspective, WCM is a simple and straightforward concept, which is ensuring enough financial resources to fund the current liabilities and current assets Harris, To discuss the impact of accounts receivables, an explanation is needed on the interpretation of the coefficients found by the different regression analyses. Growth 1-year growth of sales. ISSN , 11 pages. He found a negative relation between gross operating profit and the three parts of the CCC, which are account payables, account receivables and inventories. Working Capital Management WCM was discussed and the different trade-offs concerning the three parts of WCM, which are accounts receivables, accounts payables and inventories are mentioned. Following the availability of huge amounts of uncertain data, coming from diverse ranges of applications such as sensors, machine learning or mining approaches, information extraction and integration, etc.

In deze verhandeling geef ik een notatie en methode om een databaseschema te ontwerpen. While some authors studied the impact of an utwebte inventory management, other have studied the optimal way of managing accounts receivables that leads to profit maximization Lazaridis and Tryfonidis, ; and Besley and Meyer, These results lack robustness.


Current research in architecture alignment is either too strategic or too software implementation-oriented to be of use to the practicing information systems architect. Meltzer was one of the first authors who found a suitable substitute for bank loans. The authors Makridakis and Wheelwright consider D-W value between 1. Thus managers can create value over time by increasing their accounts receivable levels of their firms during crisis periods. Fixed Financial Assets The last control variable that will be used is the Fixed Financial Asset ratio and is calculated by dividing fixed financial assets with total assets.

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Business and Economic Horizons, 4 evaliationpp. Another reason for this negative relation is that firms, who pay earlier, receive a discount which results in a higher profit. He explained the negative relation between profitability and account payables with the view that less profitable firms wait longer to pay their bills.

dissertation evaluation form utwente

This argument is supported by the finding of Long et al. All this is probably folklore, but I’ve never seen so clear a presentation as the one that I now present myself First of all because of the vast amounts of data available on these firms, from both the periods before the crisis and during the crisis. These results support the theory that trade credit can be explained by the advantages a supplying firm has over financial institutions. The Hough transform is a computerized procedure for that task.

It is possible that inefficient WCM can lead to bankruptcy, even if the profitability of a firm is constantly positive Kargar and Bluementhal, This means that managers can create value for their firms, by keeping their working capital to a reasonable minimum.


The remainder of this page describes the publications in more detail.

Petersen and Rajan, Verbeek UTProf. We also discuss the same algorithm expressed as a functional program. These differences can disserattion be contributed to the difference in macro-economic conditions.

dissertation evaluation form utwente

To discuss the impact of accounts receivables, an explanation is needed on the interpretation of the coefficients found by the different regression analyses. If the levels of working capital are not enough, it could lead to shortages and problems with the day-to-day operations Horne and Wachowicz, The working capital policies during the non-crisis period of and during the Financial Crisis of and are compared.

This chapter ends with part C, which discusses the sample of this study and the data collection. Other studies have mainly focussed on emerging market.

They reason that more profitable firms delay their payment to suppliers. Chapter five Empirical Findings contains the various statistical analyses of this dkssertation.

This higher amount of customers increases the probability of a default on payment among these customers. ISSN utwents, 11 pages.

International Research Journal of Finance and Economics, 24pp. Essentials of Financial Management. Accounts Receivables Credit Sales made to customers Accounts Payables Short-term liabilities owed to suppliers for purchases made on credit. The second reason is demand driven, i. These laws facilitate to calculate with those algorithms that are defined by induction on their input, or on their output.