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Details about Carlo Alberto Magni

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Homepage:http://morespace.unimore.it/carloalbertomagni/
Postal address:Department of Economics, University of Modena and Reggio Emilia, viale Berengario 51, 41100 Modena, Italy
Workplace:Centro Studi di Banca e Finanza (CEFIN) (Center for Studies in Banking and Finance), Dipartimento di Economia "Marco Biagi" (Department of Economics), Università degli Studi di Modena e Reggio Emilia (University of Modena and Reggio Emilia), (more information at EDIRC)

Access statistics for papers by Carlo Alberto Magni.

Last updated 2021-08-07. Update your information in the RePEc Author Service.

Short-id: pma506


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Working Papers

2020

  1. Average rates of return, working capital, and NPV-consistency in project appraisal: A sensitivity analysis approach
    MPRA Paper, University Library of Munich, Germany Downloads View citations (1)
    See also Journal Article in International Journal of Production Economics (2020)
  2. Comprehensive Financial Modeling of Solar PV Systems
    MPRA Paper, University Library of Munich, Germany Downloads View citations (2)
  3. Investment and financing perspectives for a solar photovoltaic project
    MPRA Paper, University Library of Munich, Germany Downloads
    See also Chapter (2020)

2019

  1. Rating firms and sensitivity analysis
    MPRA Paper, University Library of Munich, Germany Downloads View citations (2)
    See also Journal Article in Journal of the Operational Research Society (2020)
  2. The accounting-and-finance of a solar photovoltaic plant: Economic efficiency of a replacement project
    MPRA Paper, University Library of Munich, Germany Downloads View citations (3)

2018

  1. Investment decisions and sensitivity analysis: NPV-consistency of rates of return
    MPRA Paper, University Library of Munich, Germany Downloads View citations (9)
    See also Journal Article in European Journal of Operational Research (2018)
  2. Project appraisal and the Intrinsic Rate of Return
    MPRA Paper, University Library of Munich, Germany Downloads View citations (1)

2017

  1. Chisini means and rational decision making: Equivalence of investment criteria
    MPRA Paper, University Library of Munich, Germany Downloads View citations (1)
  2. The Reinvestment Rate Assumption Fallacy for IRR and NPV: A Pedagogical Note
    MPRA Paper, University Library of Munich, Germany Downloads

2016

  1. Capital depreciation and the underdetermination of rate of return: A unifying perspective
    MPRA Paper, University Library of Munich, Germany Downloads View citations (5)
    See also Journal Article in Journal of Mathematical Economics (2016)
  2. Measuring the inadequacy of IRR in PFI schemes using profitability index and AIRR
    MPRA Paper, University Library of Munich, Germany Downloads View citations (2)
    See also Journal Article in International Journal of Production Economics (2016)

2015

  1. Introducing Aggregate Return on Investment as a Solution to the Contradiction Between Some PME Metrics and IRR
    Centro Studi di Banca e Finanza (CEFIN) (Center for Studies in Banking and Finance), Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi" Downloads View citations (5)
  2. Pseudo-naïve approaches to investment performance measurement
    Centro Studi di Banca e Finanza (CEFIN) (Center for Studies in Banking and Finance), Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi" Downloads View citations (5)

2014

  1. Aggregate Return on Investment for Investments under Uncertainty
    Proyecciones Financieras y Valoración, Master Consultores Downloads
    See also Journal Article in International Journal of Production Economics (2015)
  2. An average-based accounting approach to capital asset investments: The case of project finance
    Centro Studi di Banca e Finanza (CEFIN) (Center for Studies in Banking and Finance), Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi" Downloads
    See also Journal Article in European Accounting Review (2016)
  3. Mathematical Analysis of Average Rates of Return and Investment Decisions: The Missing Link
    Proyecciones Financieras y Valoración, Master Consultores Downloads View citations (3)
    See also Journal Article in The Engineering Economist (2014)

2013

  1. Generalized Makeham's Formula and Economic Profitability
    Proyecciones Financieras y Valoración, Master Consultores Downloads View citations (3)
    See also Journal Article in Insurance: Mathematics and Economics (2013)

2012

  1. Economic profitability and the accounting rate of return
    Proyecciones Financieras y Valoración, Master Consultores Downloads View citations (2)
  2. Interval and fuzzy Average Internal Rate of Return for investment appraisal
    Proyecciones Financieras y Valoración, Master Consultores Downloads
  3. The AIRR Approach for Investment Performance Measurement
    Proyecciones Financieras y Valoración, Master Consultores Downloads
  4. The Internal-Rate-of-Return approach and the AIRR paradigm: A refutation and a corroboration
    Proyecciones Financieras y Valoración, Master Consultores Downloads View citations (11)
    See also Journal Article in The Engineering Economist (2013)

2011

  1. A Quasi-IRR for a Project Without IRR
    Proyecciones Financieras y Valoración, Master Consultores Downloads View citations (2)
  2. Addendum to "Average Internal Rate of Return and Investment Decisions: A New Perspective"
    Proyecciones Financieras y Valoración, Master Consultores Downloads View citations (2)
    See also Journal Article in The Engineering Economist (2011)
  3. Why IRR is Not the Rate of Return for Your Investment: Introducing AIRR to the Real Estate Community
    Proyecciones Financieras y Valoración, Master Consultores Downloads View citations (5)

2010

  1. Average Internal Rate of Return and investment decisions: A new perspective
    Centro Studi di Banca e Finanza (CEFIN) (Center for Studies in Banking and Finance), Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi" Downloads View citations (12)
    Also in Proyecciones Financieras y Valoración, Master Consultores (2010) Downloads View citations (54)
  2. Depreciation Classes, Return on Investment and Economic Profitability
    Proyecciones Financieras y Valoración, Master Consultores Downloads View citations (1)
  3. Investment decisions, NPV and bounded rationality
    Proyecciones Financieras y Valoración, Master Consultores Downloads View citations (1)
  4. On the long-standing issue of the internal rate of return: a complete resolution
    Proyecciones Financieras y Valoración, Master Consultores Downloads
  5. Purely Internal Rate of Return and Investment Decisions: A Cash-Flow Perspective
    Proyecciones Financieras y Valoración, Master Consultores Downloads View citations (2)
  6. ROE, Market Value Added e creazione di valore
    Proyecciones Financieras y Valoración, Master Consultores Downloads
  7. Reasoning the `Net-Present-Value´ Way: Some Biases and How to Use Psychology for Falsifying Decision Models
    Proyecciones Financieras y Valoración, Master Consultores Downloads View citations (1)

2009

  1. A Logical Umbrella for Firm Evaluation: The Fundamental Relation [Un Ombrello Logico Per La Valutazione Di Azienda: La Relazione Fondamentale]
    Proyecciones Financieras y Valoración, Master Consultores Downloads
  2. A fuzzy expert system for solving real-option decision processes
    Proyecciones Financieras y Valoración, Master Consultores Downloads View citations (4)
    See also Journal Article in Fuzzy Economic Review (2001)
  3. A proposal for modeling real options through fuzzy expert system
    Proyecciones Financieras y Valoración, Master Consultores Downloads View citations (1)
  4. Accounting and economic measures: an integrated theory of capital budgeting
    Proyecciones Financieras y Valoración, Master Consultores Downloads View citations (27)
    Also in Centro Studi di Banca e Finanza (CEFIN) (Center for Studies in Banking and Finance), Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi" (2009) Downloads
  5. Ambiguita Nell´Applicazione del CAPM per la valutazione degli investimenti
    Proyecciones Financieras y Valoración, Master Consultores Downloads
  6. An application of fuzzy expert systems to strategic investments: the case of Florim S.p.a
    Proyecciones Financieras y Valoración, Master Consultores Downloads
  7. Axiomatization of residual income and generation of financial securities
    MPRA Paper, University Library of Munich, Germany Downloads View citations (2)
    See also Journal Article in Quantitative Finance (2014)
  8. Decomposition of a Certain Cash Flow Stream: Systemic Value Added and Net Final Value
    Proyecciones Financieras y Valoración, Master Consultores Downloads
  9. Economic value added and systemic value added: symmetry, aditive coherence and differences in performance
    Proyecciones Financieras y Valoración, Master Consultores Downloads
    See also Journal Article in Applied Financial Economics Letters (2006)
  10. Modeling excess profit
    Proyecciones Financieras y Valoración, Master Consultores Downloads
    See also Journal Article in Economic Modelling (2004)
  11. Potential dividends versus actual cash flows in firm valuation
    Proyecciones Financieras y Valoración, Master Consultores Downloads View citations (1)
    Also in MPRA Paper, University Library of Munich, Germany (2009) Downloads View citations (1)
  12. Strategic options and expert systems: a fruitful marriage
    Proyecciones Financieras y Valoración, Master Consultores Downloads View citations (7)
  13. The use of Npv and CAPM for capital budgeting is not a good idea. A reply to De Reyck (2005)
    Proyecciones Financieras y Valoración, Master Consultores Downloads View citations (2)

2008

  1. Economic profit, NPV, and CAPM: Biases and violations of Modigliani and Miller's Proposition I
    MPRA Paper, University Library of Munich, Germany Downloads View citations (3)
  2. Potential Dividends and Actual Cash Flows. Theoretical and Empirical Reasons for Using 'Actual' and Dismissing 'Potential'. Or: How Not to Pull Pot
    Proyecciones Financieras y Valoración, Master Consultores Downloads
  3. Potential dividends and actual cash flows. Theoretical and empirical reasons for using ‘actual’ and dismissing ‘potential’, Or: How not to pull potential rabbits out of actual hats
    MPRA Paper, University Library of Munich, Germany Downloads
  4. Splitting Up Value: A Critical Review of Residual Income Theories
    MPRA Paper, University Library of Munich, Germany Downloads View citations (3)
    See also Journal Article in European Journal of Operational Research (2009)

2007

  1. A Sum&Discount Method for Appraising Firms: An Illustrative Example
    Department of Economics, University of Modena and Reggio E., Faculty of Economics "Marco Biagi" Downloads View citations (1)
    Also in Department of Economics, University of Modena and Reggio E., Faculty of Economics "Marco Biagi" (2007) Downloads View citations (1)
    MPRA Paper, University Library of Munich, Germany (2007) Downloads View citations (2)
  2. CAPM and capital budgeting: present versus future, equilibrium versus disequilibrium, decision versus valuation
    MPRA Paper, University Library of Munich, Germany Downloads View citations (4)
  3. Correct or incorrect application of CAPM? Correct or incorrect decisions with CAPM?
    MPRA Paper, University Library of Munich, Germany Downloads View citations (4)
    See also Journal Article in European Journal of Operational Research (2009)
  4. Investment decisions, equivalent risk and bounded rationality
    MPRA Paper, University Library of Munich, Germany Downloads
  5. Measuring performance and valuing firms: In search of the lost capital
    MPRA Paper, University Library of Munich, Germany Downloads View citations (5)
  6. Project selection and equivalent CAPM-based investment criteria
    MPRA Paper, University Library of Munich, Germany Downloads View citations (2)
    See also Journal Article in Applied Financial Economics Letters (2007)
  7. Project valuation and investment decisions: CAPM versus arbitrage
    MPRA Paper, University Library of Munich, Germany Downloads View citations (7)
    See also Journal Article in Applied Financial Economics Letters (2007)
  8. Rating and ranking firms with fuzzy expert systems: the case of Camuzzi
    MPRA Paper, University Library of Munich, Germany Downloads View citations (1)
    Also in MPRA Paper, University Library of Munich, Germany (2004) Downloads
  9. Relevance or irrelevance of retention for dividend policy irrelevance
    MPRA Paper, University Library of Munich, Germany Downloads View citations (4)
  10. Residual income and value creation: An investigation into the lost-capital paradigm
    MPRA Paper, University Library of Munich, Germany Downloads View citations (3)
    Also in MPRA Paper, University Library of Munich, Germany (2007) Downloads View citations (3)

    See also Journal Article in European Journal of Operational Research (2010)
  11. THEORETICAL FLAWS IN THE USE OF THE CAPM FOR INVESTMENT DECISIONS
    MPRA Paper, University Library of Munich, Germany Downloads

2006

  1. CAPM-based capital budgeting and nonadditivity
    MPRA Paper, University Library of Munich, Germany Downloads View citations (2)
    See also Journal Article in Journal of Property Investment & Finance (2008)
  2. Zelig and the Art of Measuring Excess Profit
    MPRA Paper, University Library of Munich, Germany Downloads View citations (9)
    See also Journal Article in Frontiers in Finance and Economics (2006)

2005

  1. Firm Value and the mis-use of the CAPM for valuation and decision making
    MPRA Paper, University Library of Munich, Germany Downloads
    Also in MPRA Paper, University Library of Munich, Germany (2005) Downloads
  2. On decomposing net final values: EVA, SVA, and shadow project
    MPRA Paper, University Library of Munich, Germany Downloads View citations (15)
  3. The use of fuzzy logic and expert systems for rating and pricing firms: a new perspective on valuation
    MPRA Paper, University Library of Munich, Germany Downloads View citations (1)
    See also Journal Article in Managerial Finance (2007)

2004

  1. An alternative approach to firms’ evaluation: expert systems and fuzzy logic
    MPRA Paper, University Library of Munich, Germany Downloads View citations (2)
    See also Journal Article in International Journal of Information Technology & Decision Making (IJITDM) (2006)

2003

  1. Opportunity cost, excess profit, and counterfactual conditionals
    MPRA Paper, University Library of Munich, Germany Downloads View citations (4)
    See also Journal Article in Frontiers in Finance and Economics (2009)

2001

  1. Valore Aggiunto Sistemico: un'alternativa all'EVA quale indice di sovraprofitto periodale
    MPRA Paper, University Library of Munich, Germany Downloads View citations (3)

2000

  1. Decomposition of a Certain Cash Flow Stream: Differential Systemic Value and Net Final Value
    MPRA Paper, University Library of Munich, Germany Downloads View citations (12)
  2. Irr, Roe and Npv: Formal and Conceptual Convergences in a Systemic Approach
    MPRA Paper, University Library of Munich, Germany Downloads View citations (2)
  3. Scomposizione di sovraprofitti: Economic Value Added e Valore Aggiunto Sistemico
    (Excess-profit decomposition: Economic Value Added and Systemic Value Added)
    MPRA Paper, University Library of Munich, Germany Downloads View citations (4)
  4. Systemic Value Added, Residual Income and Decomposition of a Cash Flow Stream
    MPRA Paper, University Library of Munich, Germany Downloads View citations (8)

Journal Articles

2021

  1. Average internal rate of return for risky projects
    The Engineering Economist, 2021, 66, (2), 90-120 Downloads

2020

  1. Average rates of return, working capital, and NPV-consistency in project appraisal: A sensitivity analysis approach
    International Journal of Production Economics, 2020, 229, (C) Downloads
    See also Working Paper (2020)
  2. Rating firms and sensitivity analysis
    Journal of the Operational Research Society, 2020, 71, (12), 1940-1958 Downloads
    See also Working Paper (2019)

2018

  1. Investment decisions and sensitivity analysis: NPV-consistency of rates of return
    European Journal of Operational Research, 2018, 268, (1), 361-372 Downloads View citations (10)
    See also Working Paper (2018)

2016

  1. An Average-Based Accounting Approach to Capital Asset Investments: The Case of Project Finance
    European Accounting Review, 2016, 25, (2), 275-286 Downloads View citations (13)
    See also Working Paper (2014)
  2. Capital depreciation and the underdetermination of rate of return: A unifying perspective
    Journal of Mathematical Economics, 2016, 67, (C), 54-79 Downloads View citations (5)
    See also Working Paper (2016)
  3. Measuring the inadequacy of IRR in PFI schemes using profitability index and AIRR
    International Journal of Production Economics, 2016, 179, (C), 130-140 Downloads View citations (2)
    See also Working Paper (2016)

2015

  1. Aggregate Return On Investment for investments under uncertainty
    International Journal of Production Economics, 2015, 165, (C), 29-37 Downloads View citations (4)
    See also Working Paper (2014)
  2. Investment, financing and the role of ROA and WACC in value creation
    European Journal of Operational Research, 2015, 244, (3), 855-866 Downloads View citations (13)

2014

  1. Arithmetic returns for investment performance measurement
    Insurance: Mathematics and Economics, 2014, 55, (C), 291-300 Downloads View citations (4)
  2. Axiomatization of residual income and generation of financial securities
    Quantitative Finance, 2014, 14, (7), 1257-1271 Downloads View citations (1)
    See also Working Paper (2009)
  3. Mathematical Analysis of Average Rates of Return and Investment Decisions: The Missing Link
    The Engineering Economist, 2014, 59, (3), 175-206 Downloads View citations (2)
    See also Working Paper (2014)

2013

  1. Generalized Makeham’s formula and economic profitability
    Insurance: Mathematics and Economics, 2013, 53, (3), 747-756 Downloads View citations (2)
    See also Working Paper (2013)
  2. The Internal Rate of Return Approach and the AIRR Paradigm: A Refutation and a Corroboration
    The Engineering Economist, 2013, 58, (2), 73-111 Downloads View citations (10)
    See also Working Paper (2012)

2011

  1. Addendum to “Average Internal Rate of Return and Investment Decisions: A New Perspective”
    The Engineering Economist, 2011, 56, (2), 181-182 Downloads
    See also Working Paper (2011)
  2. Aggregate Return on Investment and Investment Decisions: A Cash-Flow Perspective
    The Engineering Economist, 2011, 56, (2), 140-169 Downloads View citations (3)

2010

  1. CAPM and Capital Budgeting: Present/Future, Equilibrium/Disequilibrium, Decision/Valuation
    The IUP Journal of Financial Economics, 2010, VIII, (1 & 2), 7-35
  2. Residual income and value creation: An investigation into the lost-capital paradigm
    European Journal of Operational Research, 2010, 201, (2), 505-519 Downloads View citations (7)
    See also Working Paper (2007)

2009

  1. Correct or incorrect application of CAPM? Correct or incorrect decisions with CAPM?
    European Journal of Operational Research, 2009, 192, (2), 549-560 Downloads View citations (5)
    See also Working Paper (2007)
  2. Investment decisions, net present value and bounded rationality
    Quantitative Finance, 2009, 9, (8), 967-979 Downloads View citations (5)
  3. Opportunity Cost, Excess Profit, and Counterfactual Conditionals
    Frontiers in Finance and Economics, 2009, 6, (1), 118-154 Downloads
    See also Working Paper (2003)
  4. POTENTIAL DIVIDENDS AND ACTUAL CASH FLOWS IN EQUITY VALUATION. A CRITICAL ANALYSIS
    Estudios Gerenciales, 2009 Downloads
  5. Splitting up value: A critical review of residual income theories
    European Journal of Operational Research, 2009, 198, (1), 1-22 Downloads View citations (18)
    See also Working Paper (2008)

2008

  1. CAPM-based capital budgeting and nonadditivity
    Journal of Property Investment & Finance, 2008, 26, (5), 388-398 Downloads
    See also Working Paper (2006)

2007

  1. Project selection and equivalent CAPM-based investment criteria
    Applied Financial Economics Letters, 2007, 3, (3), 165-168 Downloads View citations (2)
    See also Working Paper (2007)
  2. Project valuation and investment decisions: CAPM versus arbitrage
    Applied Financial Economics Letters, 2007, 3, (2), 137-140 Downloads View citations (6)
    See also Working Paper (2007)
  3. The use of fuzzy logic and expert systems for rating and pricing firms: A new perspective on valuation
    Managerial Finance, 2007, 33, (11), 836-852 Downloads View citations (2)
    See also Working Paper (2005)

2006

  1. AN ALTERNATIVE APPROACH TO FIRMS' EVALUATION: EXPERT SYSTEMS AND FUZZY LOGIC
    International Journal of Information Technology & Decision Making (IJITDM), 2006, 05, (01), 195-225 Downloads View citations (6)
    See also Working Paper (2004)
  2. Economic value added and systemic value added: symmetry, additive coherence and differences in performance
    Applied Financial Economics Letters, 2006, 2, (3), 151-154 Downloads View citations (8)
    See also Working Paper (2009)
  3. Zelig and the Art of Measuring Excess Profit
    Frontiers in Finance and Economics, 2006, 3, (1), 103-129 Downloads
    See also Working Paper (2006)

2004

  1. Modelling excess profit
    Economic Modelling, 2004, 21, (3), 595-617 Downloads View citations (15)
    See also Working Paper (2009)

2003

  1. Decomposition of Net Final Values: Systemic Value Added and Residual Income
    Bulletin of Economic Research, 2003, 55, (2), 149-176 Downloads View citations (17)

2002

  1. Investment decisions in the theory of finance: Some antinomies and inconsistencies
    European Journal of Operational Research, 2002, 137, (1), 206-217 Downloads View citations (9)

2001

  1. A Fuzzy expert system for solving ReaL-Option decision processes
    Fuzzy Economic Review, 2001, VI, (2), 51-73 View citations (6)
    See also Working Paper (2009)

1991

  1. Reputazione e credibilità di una minaccia in un gioco di contrattazione
    Decisions in Economics and Finance, 1991, 14, (2), 31-57 Downloads

Books

2020

  1. Investment Decisions and the Logic of Valuation
    Springer Books, Springer

Chapters

2020

  1. Investment and Financing Perspectives for a Solar Photovoltaic Project
    University of Primorska Press Downloads
    See also Working Paper (2020)
 
Page updated 2021-10-12