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It is a well known problem the interactions between the market value of cash flows and the discount rate (usually the weighted average cost of capital, WACC) to calculate that value. This is mentioned in almost all text books in corporate finance. However, the solution adopted by most authors is to assume a constant leverage D%, and hence assume that the leverage gives raise to an optimal capital structure and the discount rate is constant. On the other hand, most authors use the definition of the Ke, the cost of leveraged equity for perpetuities even if the planning horizon is finite. Among these authors we find the work of Wood and Leitch W&L 2004. In this article we wish to analyse the claim made by W&L 2004 in the sense to have found an iterative solution to the problem of circularity that results in a “near” matching with the Adjusted Present Value APV, proposed by Myers, 1974. They use as the basic principle the fact that there is a “near” constant relation between Ke the cost of equity and Kd the cost of debt. They consider as well that the cost of debt Kd is not constant and changes proportionately with the leverage D%. We propose a very simple and precise approach to solve the above mentioned circularity problem.

This paper aims to explore the intellectual structure shaping the circular economy (CE) discourse within the built environment in Africa.

The study adopted a bibliometric analysis approach to explore the intellectual structure of CE in the built environment in Africa. The authors collected 31 papers published between 2005 and 2021 from the Scopus database and used VOSviewer for data analysis.

The findings show that there are six clusters shaping the intellectual structure: demolition, material recovery and reuse; waste as a resource; cellulose and agro-based materials; resilience and low-carbon footprint; recycling materials; and the fourth industrial revolution. The two most cited scholars had three publications each, while the top journal was Resources, Conservation and Recycling. The dominant concepts included CE, sustainability, alternative materials, waste management, lifecycle, demolition and climate change. The study concludes that there is low CE research output in Africa, which implies that the concept is either novel or facing resistance.

The data were drawn from one database, Scopus; hence, adoption of alternative databases such as Web of Science, Google Scholar and Dimensions could potentially have yielded a higher number of articles for analysis which potentially would result in different conclusions on the subject understudy.

This study made a significant contribution by articulating the CE intellectual structure in the built environment, identified prominent scholars and academic platforms responsible for promoting circularity in Africa.

This paper aims to present an iterative algorithm that yields the amount of debt contracting/repayment or equity investment necessary to achieve the target capital structure. The model also helps to estimate the gains in shareholder value that result from financial restructuring process and lead to the optimal leverage ratio.

The paper maintains that certain benchmarks – i.e. industry average financial leverage and unlevered beta corrected for cash – make it possible to determine the parameters of the optimal capital structure for the company, so a failure to adjust to the target may result in value destruction.

The paper presents an iterative algorithm that yields the amount of debt contracting/repayment or equity investment necessary to achieve the target capital structure.

The proposed algorithm overcomes the methodological problems of existing approaches to the estimation of shareholder value gained through financial restructuring and implicitly solves the circularity problem in the calculation of the weighted average cost of capital.

Selecting the optimal supplier is a challenging managerial decision that involves several dimensions that vary over time. Despite the considerable attention devoted to this issue, knowledge is required to be updated and analyzed in this field. This paper reveals new opportunities to advance supplier selection (SS) research from a multidimensional perspective. Moreover, this study aims to formalise SS knowledge to enable the appropriate selection of sustainable, resilient and circular criteria.

This study is developed in two stages: first, a systematic literature review is conducted to select relevant papers. Descriptive and thematic analyses are employed to analyze criteria, solving approaches and case studies. Second, a criterion knowledge-based framework is developed and validated by experts to be implemented as ontology using Protégé software.

Evaluating the viability of suppliers need further studies to integrate other criteria and to align SS objectives with research advancement. Artificial intelligence tools are needed to revolutionize and optimize the traditional techniques used to solve this problem. Literature lucks frameworks for specific sectors. The proposed ontology provides a consistent criteria knowledge base.

For academics, the results of this study highlight opportunities to improve the viable SS process. From a managerial perspective, the proposed ontology can assist managers in selecting the appropriate criteria. Future works can enrich the proposed ontology and integrate this knowledge base into an information system.

This study contributes to promoting knowledge about viable SS. Capitalizing the knowledge base of criteria in a computer-interpretable manner supports the digitalization of this critical decision.

Health care organizations function in multidimensional environments, and their organizational cultures are complex and demanding. Expectations for health care services are high: patients want the most effective and newest possible treatments, politicians demand accountable service production, and health care professionals require motivating and challenging work environments. All these goals and objectives, for example, can be at the root of wicked problems in health care management. Thus, this chapter aims to explore the wickedness of health care management through an analysis of Finnish and Swedish health care reforms. The aim of these reforms is to solve the problems encountered in health care systems and organizations. The concept of a ‘wicked issue’ can shortly be described as a problem that is difficult to identify and solve. The reasoning behind using the concept of wicked issue as a method for analysis here is the hypothesis that the concept helps to explain and understand the social complexity involved in health care management.

This chapter explores the role of ethics in shaping, underpinning and sustaining authentic leadership. Viewing ethics as a system of moral principles that govern individual behaviour and conduct, Mould discusses the basis of ethics for authentic leadership, recognising that it has multiple overlapping and conflicting sources. Recognising the multiple ‘moral’ pressures and dilemmas that leaders face, Mould asks how they can construct and live by coherent ethics in a globally minded, interconnected, culturally diverse and often incoherent world. He suggests tools that may assist in searching for ethics that support authentic leadership. The author concludes that examining the interplay between ethics and leadership practices challenges theories of authentic leadership.

This chapter provides a new theory for organizational leadership in which an organization's leadership, authority, management, power, and environments (LAMPE) are made coherent and integrated. Organizations work best if their LAMPE is coherent, integrated, and operational. The chapter begins by introducing basic concepts, such as structures, processes, process frameworks, task–role matrices, interdependence uncertainty, and virtual-like organizational arrangements. The LAMPE theory is then built upon this base. Leadership is defined as the processes of initiating, enabling, implementing, and sustaining change in an organization. Authority is defined as the legal right to preempt the outcome of a decision or a process. Management is defined in term of its major processes. Power is the control of interdependence uncertainty. When 29 leadership practices are introduced, it is possible to link them to all five of LAMPE's constructs. A number of conclusions are derived, in the form of 36 propositions: 5 dealing with leadership, 5 focusing on leadership requirements matching, 4 relating to leadership effectiveness, 5 dealing with leadership capacity, 4 concerning the benefits of distributed leadership, and 13 linking LAMPE to the theory of the organizational hologram.

The purpose of this two‐part series is to consider the role of the “scientific method” (SM) in human understanding, questioning both its consistency in actual practice and its reasonableness as a system of philosophy and action.

Part 2 considers problems of inefficiency and inertia caused by the SM's collectivist, frequentist orientation.

It is argued that problems caused by the SM's frequentist framework may be avoided by a more individualist, Bayesian approach.

The two‐part series challenges certain aspects of the “scientific method” as employed in the practice of modern science.

Argues that hostile takeovers cannot be morally justified on grounds which involve valuations sanctioned by prevalent interpretations of The Efficient Market Hypothesis. Demonstrates that such “valuations” are morally inadmissible on account of their “circularity”. Recommends a case‐by‐case approach by way of conclusion.