Browsing Economics, Development and Management Cluster by Author "Awad, Ibrahim M."
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- ItemThe Intrinsic & Market Value of the Common Stocks: Evidence from Palestine Exchange(Center for Research Promotion, 2012-12-04) Awad, Ibrahim M.; Murrar, Abdullah; Ayyad, HindIn analogues way to the sayings “What goes around comes around” the market price of the company stock’s is closely related to its performance, the more optimistic, the more the investors will be and hence willing to pay a higher price for the company's share and vice versa. Seamlessly, given that the goal of the firms is to maximize the value of the shareholders, the more the intrinsic value of the company stock, the more market value of the stock price, so that there is a positive correlation between the intrinsic and market value of a particular common stock. This is founded in the first test of this study. Ironically, the positive correlation does not always imply that the intrinsic value causes the changes in market value; that is, empirical results of the co-integration test of this paper reveals that the market value is what causes the changes in intrinsic value, meaning that stock prices in Palestine Exchange does not significantly depend on fundamentals, but rather on supply and demand forces, other things being equal.
- ItemToward Efficient Management of Working Capital: The case of the Palestinian Exchange(International Scientific Press, 2012-02-28) Awad, Ibrahim M.; Al-Ewesat, Abdel-RahmanThe importance of this study comes from the truth that financial statements' users need reliable, relevant, and useful financial information that should be reflected in stock prices. However, this study aims at investigating current ratio, receivables turnover, inventory turnover, and earnings per share for 18 companies listed on PEX over the period from 2006 to 2011. Regression analysis and econometric techniques of Unit root test, Co-integration, and Granger causality are applied. The study outcomes indicate that stock prices of companies listed on PEX are affected by working capital components. The results of traditional Granger Causality reveal that there is no causal relationship between stock prices and working capital components. In addition, there is a positive relationship between CR and EPS and stock prices whereas there is a negative relationship between RT and IT. The paper concludes that cash, times of receivables collection and inventory turnover are necessary to be taken into account by both investors and companies for improved the management of working capital at the PEX.
- ItemUsing econometric analysis of willingness-to-pay to investigate economic efficiency and equity of domestic water services in the West Bank(Elsevier, 2012-10-07) Awad, Ibrahim M.The paper is aimed at providing evidence on economic efficiency, and equity of distribution of domestic water services in the West Bank. The study utilizes the CVM as a means of monetizing public preferences and households’ WTP. In the CVM questionnaire, the dichotomous choice with follow-up debriefing questions format is followed by an open-ended follow-up question was undertaken. A second questionnaire survey was directed to employees from water institutions, which was mainly designed to investigate the reasons behind the full absence of private sector in the provision of water supply. The two samples were selected to ensure a representative samples in accordance with the Palestinian case. The main findings of this paper gauged the WTP with key socioeconomic variables suggested by economic theory and previous CVM studies. These results provide information on economic efficiency and equity of water distribution. The results will allow decision makers to develop new policies that can achieve more efficient and equitable domestic water services.