{"id":712,"date":"2014-11-23T21:07:29","date_gmt":"2014-11-23T20:07:29","guid":{"rendered":"\/carloalbertomagni\/?page_id=712"},"modified":"2026-03-05T16:10:47","modified_gmt":"2026-03-05T16:10:47","slug":"research-2","status":"publish","type":"page","link":"https:\/\/morespace.economia.unimore.it\/carloalbertomagni\/research-2\/","title":{"rendered":"Research"},"content":{"rendered":"<div id=\"journals\">\n<p><a href=\"https:\/\/morespace.economia.unimore.it\/carloalbertomagni\/wp-content\/uploads\/sites\/16\/2019\/07\/vetrina-12-luglio-2019-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-1629\" src=\"https:\/\/morespace.economia.unimore.it\/carloalbertomagni\/wp-content\/uploads\/sites\/16\/2019\/07\/vetrina-12-luglio-2019-1-300x82.png\" alt=\"\" width=\"700\" height=\"192\" srcset=\"https:\/\/morespace.economia.unimore.it\/carloalbertomagni\/wp-content\/uploads\/sites\/16\/2019\/07\/vetrina-12-luglio-2019-1-300x82.png 300w, https:\/\/morespace.economia.unimore.it\/carloalbertomagni\/wp-content\/uploads\/sites\/16\/2019\/07\/vetrina-12-luglio-2019-1-1024x281.png 1024w, https:\/\/morespace.economia.unimore.it\/carloalbertomagni\/wp-content\/uploads\/sites\/16\/2019\/07\/vetrina-12-luglio-2019-1-768x211.png 768w, https:\/\/morespace.economia.unimore.it\/carloalbertomagni\/wp-content\/uploads\/sites\/16\/2019\/07\/vetrina-12-luglio-2019-1-1536x422.png 1536w, https:\/\/morespace.economia.unimore.it\/carloalbertomagni\/wp-content\/uploads\/sites\/16\/2019\/07\/vetrina-12-luglio-2019-1.png 1588w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/a><\/p>\n<figure id=\"attachment_1642\" aria-describedby=\"caption-attachment-1642\" style=\"width: 127px\" class=\"wp-caption alignleft\"><a href=\"\/carloalbertomagni\/wp-content\/uploads\/sites\/16\/2019\/07\/IDLV_book-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-1642\" src=\"\/carloalbertomagni\/wp-content\/uploads\/sites\/16\/2019\/07\/IDLV_book-1.jpg\" alt=\"\" width=\"127\" height=\"192\" \/><\/a><figcaption id=\"caption-attachment-1642\" class=\"wp-caption-text\"><a href=\"\/carloalbertomagni\/books\/\" rel=\"noopener\">Book<\/a><\/figcaption><\/figure>\n<\/div>\n<ul>\n<li>\n<h3><a href=\"#books\">Books<\/a><\/h3>\n<\/li>\n<li>\n<h3><a title=\"vai ai Journals\" href=\"#journals\">Journals<\/a><\/h3>\n<\/li>\n<li>\n<h3><a title=\"vai ai Proceedings\" href=\"#pro\">Conferences<\/a><\/h3>\n<\/li>\n<li>\n<h3><a title=\"vai ai Workings Papers\" href=\"#wp\">Working Papers<\/a><\/h3>\n<\/li>\n<\/ul>\n<h3 style=\"text-align: left\"><\/h3>\n<h3 style=\"text-align: left\"><span style=\"color: #e73b00\">Books<\/span><\/h3>\n<ul>\n<li>Magni CA 2020. <strong><em><a href=\"https:\/\/link.springer.com\/book\/10.1007\/978-3-030-27662-1\">Investment Decisions and the Logic of Valuation. Linking Finance, Accounting, and Engineering<\/a><\/em><\/strong>. Springer Nature. Cham, Switzerland. &lt;<a href=\"\/carloalbertomagni\/books\/\">page<\/a>&gt;<\/li>\n<li>Magni CA 2025.<strong> <a href=\"https:\/\/link.springer.com\/book\/10.1007\/978-3-031-54483-5\"><em>Pianificazione finanziaria e analisi degli investimenti. Un approccio metodologico unificato e applicazioni in Excel<\/em><\/a><\/strong>.\u00a0 Springer Nature. Cham, Switzerland [Financial planning and investment analysis. A unified methodological approach and applications in Excel]<\/li>\n<li>Magni CA, Marchioni A (work in progress). <em><strong>Matematica finanziaria per l&#8217;azienda. Dai regimi di interesse alla valutazione dei progetti<\/strong><\/em>. Springer Nature.<\/li>\n<\/ul>\n<h3 style=\"text-align: left\"><span style=\"color: #e73b00\">Journals<\/span><\/h3>\n<ul>\n<li>Cot\u00e9 J-F, Dotti G, Loti de Lima V, Magni CA, Iori M 2026. Exact alforithms for energy-constrained scheduling on identical parallel machines. <a href=\"https:\/\/doi.org\/10.1016\/j.cor.2026.107440\"><strong><em>Computers and Operations Research<\/em><\/strong><\/a>. Vol. 191, July 107440.<\/li>\n<li>Magni CA 2026. Financial mathematics and its unexpected connections to accounting and corporate finance. <a href=\"https:\/\/doi.org\/10.1007\/s10203-025-00552-7\"><strong><em>Decisions in Economics and Finance<\/em><\/strong><\/a><em>. <\/em>https:\/\/doi.org\/10.1007\/s10203-025-00552-7<\/li>\n<li>Magni CA, Columbu G, Baschieri D, Iori M 2025. Split-screen approach to financial modeling in sustainable fleet management. <em><strong><a href=\"https:\/\/doi.org\/10.3390\/jrfm18110613\">Journal of Risk and Financial Management<\/a>, <\/strong><\/em>18(11), 613; https:\/\/doi.org\/10.3390\/jrfm18110613<\/li>\n<li>Magni CA, Martin J. 2025. The two sides of the reinvestment assumption fallacy in IRR and NPV. <em><strong>The Engineering Economist<\/strong><\/em>, 70(3), 122-151<\/li>\n<li>Petrato Bruck B, Iori M, Magni CA, Pretolani D, Vezzali D 2024. Supplier Selection for Global Service Providers: a Decision Support System. <a href=\"https:\/\/www.tandfonline.com\/doi\/full\/10.1080\/03155986.2024.2367193\"><strong><em>INFOR: Information Systems and Operational Research<\/em><\/strong><\/a>. https:\/\/doi.org\/10.1080\/03155986.2024.2367193<\/li>\n<li>Caselli G, \u00a0Delorme M,\u00a0 Iori M, Magni CA 2024. Exact algorithms for a parallel machine scheduling problem with workforce and contiguity constraints. <a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0305054823003489\"><strong><em>Computers and Operations Research <\/em><\/strong><\/a>, 163 (March), 106484.<\/li>\n<li>Magni CA 2023. The split-screen approach for project appraisal. (Part I: The theory).\u00a0 <a href=\"https:\/\/www.mdpi.com\/journal\/jrfm\/special_issues\/L333Y34T32\"><em><strong>Journal of Risk and Financial Management,\u00a0 Special Issue \u201cAdvances in Engineering Economics\u201d<\/strong>, <\/em><\/a>16(3), 155, 1-49 . <a href=\"https:\/\/www.mdpi.com\/1911-8074\/16\/3\/155\">https:\/\/www.mdpi.com\/1911-8074\/16\/3\/155<\/a><\/li>\n<li>Baschieri D, Magni CA 2023. The <em>split-screen approach<\/em> for project appraisal (Part II: spreadsheet modeling). <a href=\"https:\/\/www.mdpi.com\/journal\/jrfm\/special_issues\/L333Y34T32\"><em><strong>Journal of Risk and Financial Management, Special Issue \u201cAdvances in Engineering Economics\u201d<\/strong>, <\/em><\/a>16(3), 155, 1-67. \u00a0<a href=\"https:\/\/www.mdpi.com\/1911-8074\/16\/3\/157\">https:\/\/www.mdpi.com\/1911-8074\/16\/3\/157<\/a><\/li>\n<li>Magni CA, Marchioni A, Baschieri D 2023. The Attribution Matrix and the joint use of Finite Change Sensitivity Index and Residual Income for value-based performance measurement. <strong><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3796281\"><em>European Journal of Operational Research<\/em><\/a><\/strong>, 306(2), 872-892.<\/li>\n<li>Guerra ML, Magni CA, Stefanini L 2022. Value creation and investment projects: An application of fuzzy sensitivity analysis to project financing transactions.<strong> <a href=\"https:\/\/www.worldscientific.com\/doi\/10.1142\/S021962202250033X\"><em>International Journal of Information Technology &amp; Decision Making<\/em><\/a><\/strong>, 21(6), 1683-1714.<\/li>\n<li>Magni A, Marchioni A 2022. Performance attribution, time-weighted rate of return, and clean finite change sensitivity index. <em><strong><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=4140634\">Journal of Asset Management<\/a><\/strong>,\u00a0<\/em>23,\u00a062\u201372.<\/li>\n<li>Magni CA, Marchioni A, Baschieri D 2022.\u00a0Impact of financing and payout policy on the economic profitability of solar photovoltaic plants. <em><strong><a href=\"https:\/\/www.sciencedirect.com\/science\/article\/abs\/pii\/S0925527321003145\">International Journal of Production Economics<\/a><\/strong>\u00a0<\/em>244 (Februray) 108338.<\/li>\n<li>Magni CA 2021. Economic profitability and (non)additivity of residual income. <strong><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3854965\"><em>Annals of Finance<\/em><\/a><\/strong>, 17, 471\u2013499. https:\/\/doi.org\/10.1007\/s10436-021-00388-2<\/li>\n<li>Magni CA 2021. Internal rates of return and shareholder value creation. <em><strong><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3791527\">The Engineering Economist<\/a><\/strong>, <\/em>66(4)\u00a0279-302. https:\/\/doi.org\/10.1080\/0013791X.2020.1867679<\/li>\n<li>Hazen G, Magni CA. 2021. Average Internal Rate of Return for Risky Assets.<strong> <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3791520\"><em>The Engineering Economist<\/em><\/a><\/strong>, 66(2) 90-120<\/li>\n<li>Magni CA, Marchioni A 2020. Average rates of return, working capital, and NPV-consistency in project appraisal: A sensitivity analysis approach.<a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3587029\">\u00a0<\/a><em><strong><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3587029\">International Journal of Production Economics<\/a><\/strong>, <\/em>229, November, 107769<\/li>\n<li>Magni CA, Malagoli S, Marchioni A , Mastroleo G 2020. Rating firms and sensitivity analysis. <strong><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3423440\"><em>Journal of the Operational Research Society<\/em><\/a><\/strong>, 71(12), 1940-1958.<\/li>\n<li>\n<div>Magni CA 2019. Accounting Measures and Economic Measures: An Integrated Theory of Capital Budgeting.\u00a0<strong><a href=\"https:\/\/doi.org\/10.33423\/jaf.v19i19.2702\"><i>Journal of Accounting and Finance<\/i><\/a><\/strong>, 19(9), 166-208.\u00a0.<\/div>\n<\/li>\n<li>\n<div>Magni CA 2018. On &#8220;Introducing Excess Return on Time-Scaled Contributions&#8221;: A Clarification.\u00a0<strong><a href=\"http:\/\/jai.iijournals.com\/content\/iijaltinv\/21\/2\/84.full.pdf\"><em>The Journal of Alternative Investments<\/em><\/a><\/strong>, 21(2) (Fall), 1-3.<\/div>\n<\/li>\n<li>Cuthbert J, Magni CA. 2018.\u00a0Some problems of the IRR in measuring PEI performance and how to solve it with the pure-investment AIRR. <em><strong><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3116410\">Journal of Performance Measurement<\/a><\/strong>.<\/em> 22(2) (Winter), 39-50.<\/li>\n<li>Marchioni A, Magni CA 2018. Investment decisions and sensitivity analysis: NPV-consistency of rates of return,<em><a href=\"https:\/\/ssrn.com\/abstract=3096020\">\u00a0<strong>European Journal of Operational Research<\/strong><\/a><\/em>. 268(1) (July), 361-372.<\/li>\n<li>Magni CA, Veronese P, Graziani R 2018. Chisini means and rational decision-making: Equivalence of investment criteria. <em><strong><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3037103\">Mathematics and Financial Economics<\/a><\/strong>,\u00a0<\/em>12(2), 193-217.<\/li>\n<li>Magni CA 2016. Capital depreciation and the underdetermination of rate of return: A unifying perspective. <strong><em><a href=\"http:\/\/www.sciencedirect.com\/science\/article\/pii\/S0304406816301501\">Journal of Mathematical Economics<\/a><\/em><\/strong>, 67 (December), 54-79.<\/li>\n<li>Cuthbert J, Magni CA 2016.\u00a0Measuring the inadequacy of IRR in PFI schemes using profitability index and AIRR. <em><strong><a href=\"http:\/\/ssrn.com\/abstract=2790294\">International Journal of Production Economics<\/a><\/strong>, <\/em>179, 130-140.<\/li>\n<li>Magni CA 2016.\u00a0An average-based accounting approach to capital asset investment: The case of project finance, <strong><a href=\"http:\/\/ssrn.com\/abstract=2558762\" target=\"_blank\" rel=\"noopener\"><em>European Accounting Review<\/em><\/a><\/strong>, 25(2), 275-286.<\/li>\n<li>Althsuler D, Magni CA 2015. Introducing Aggregate Return on Investment as a solution to the contradiction between some PME metrics and IRR.<strong> <em><a href=\"http:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2598759\">Journal of Performance Measurement<\/a><\/em><\/strong>, 20(1) (Fall), 48\u201356.<\/li>\n<li>Magni CA 2015. Aggregate Return On Investment for investments under uncertainty, <em><strong><a href=\"http:\/\/papers.ssrn.com\/abstract=2335148\" target=\"_blank\" rel=\"noopener\">International Journal of Production Economics<\/a><\/strong>, <\/em>165 (July),<em>\u00a0<\/em>29\u201337.<\/li>\n<li>Magni CA 2015. Investment, financing and the role of ROA and WACC in value \u00a0creation, <em><strong><a href=\"http:\/\/papers.ssrn.com\/abstract=2560266\" target=\"_blank\" rel=\"noopener\">European Journal of Operational Research<\/a><\/strong>,<\/em>\u00a0244(3) (August), 855-866.<\/li>\n<li>Pressacco F, Magni CA, Stucchi P 2014. A quasi-IRR for \u00a0project without IRR. <em><strong><a title=\"download paper\" href=\"http:\/\/ssrn.com\/abstract=1800348\" target=\"_blank\" rel=\"noopener\">Frontiers in Finance and Economics<\/a><\/strong>,\u00a0<\/em>11(2), 1-23.<\/li>\n<li>Guerra ML, Magni CA, Stefanini L 2014. Interval and fuzzy Average Internal Rate of Return for investment appraisal, <strong><em><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2080250\">Fuzzy Sets and Systems<\/a><\/em><\/strong>, 257,217-241<em>.<\/em><\/li>\n<li>Magni CA 2014. Mathematical analysis of average rates of return and investment decisions: The missing link. <em><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=2374840\">T<strong>he Engineering Economist<\/strong><\/a><\/em>, 59(3), 175\u2012206.<\/li>\n<li>Ghiselli Ricci R, Magni CA 2014. Axiomatization of residual income and generation of financial securities. <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1372371\"><em>Quantitative Finance<\/em><\/a><\/strong>, 14(7), 1257\u20121271.<\/li>\n<li>Magni CA 2014. Arithmetic returns for investment performance measurement. <em><strong><a title=\"download paper\" href=\"http:\/\/ssrn.com\/abstract=2080775\">Insurance: Mathematics and Economics<\/a><\/strong>.<\/em> 55 (March), 291\u2012300.<\/li>\n<li>Magni CA 2013. Generalized Makeham\u2019s formula and economic profitability. <strong><em><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=2331259\">Insurance: Mathematics and Economics<\/a><\/em>,<\/strong> 53(3) (November), 747\u2012756.<\/li>\n<li>Magni CA 2013. The Internal-Rate-of-Return approach and the AIRR paradigm: A refutation and a corroboration. <strong><em><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=2172965\">The Engineering Economist<\/a><\/em><\/strong>, 58(2), 73\u2012111.<\/li>\n<li>Magni CA 2012. In search of the \u201clost capital\u201d. A theory for valuation, investment decisions, performance measurement. <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1029244\"><em>Frontiers in Finance and Economics<\/em><\/a>, <\/strong>9(1), 87\u2012146.<\/li>\n<li>Altshuler D, Magni CA 2012. Why IRR is not the rate of return on your investment: Introducing the AIRR to the Real Estate community<em>. <\/em><strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1825544\"><em>Journal of Real Estate Portfolio Management<\/em><\/a><\/strong>, 18(2), 219\u2012230.<\/li>\n<li>Magni CA 2011. Addendum to \u201cAverage Internal Rate of Return and investment decisions: A new perspective\u201d. <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1776460\"><em>The Engineering Economist<\/em><\/a><\/strong>, 56(2), 140\u2013169.<\/li>\n<li>Magni CA 2011. Aggregate Return On Investment and investment decisions: a cash-flow perspective. <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=2335148\"><em>The Engineering Economist<\/em><\/a><\/strong>, 56(2), 181\u2013182.<\/li>\n<li>Magni CA 2011. L\u2019approccio del reddito residuale e il metodo \u201cS&amp;A\u201d per la valutazione d\u2019azienda [The residual income approach and the \u201cS&amp;A\u201d method for firm valuation]. <strong><em>La valutazione delle aziende<\/em><\/strong>, 63 (December), 43\u201347.<\/li>\n<li>Magni CA 2010. Relevance or irrelevance of retention for dividend policy irrelevance<a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1027401\">. <strong><em>International Review of Applied Financial Issues and Economics<\/em><\/strong><\/a>, 2(2), 232\u2012247.<\/li>\n<li>Magni CA 2010. CAPM and capital budgeting: present\/future, equilibrium\/disequilibrium, decision\/valuation, <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1609592\"><em>The IUP Journal of Financial Economics<\/em><\/a><\/strong>, 8(1\/2) (March\/June), 7\u201235.<\/li>\n<li>Magni CA 2010. Average Internal Rate of Return and investment decisions: a new perspective. <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1542690\"><em>The<\/em> <em>Engineering Economist<\/em><\/a><\/strong>, 55(2), 150\u2012181. [&#8220;Eugene L Grant&#8221; Award as best paper published in 2010]<\/li>\n<li>Magni CA 2010. Residual income and value creation: An investigation into the lost-capital paradigm, <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1029680\"><em>European Journal of Operational Research<\/em><\/a><\/strong>, 201(2) (March), 505\u2012519.<\/li>\n<li>Magni CA 2010. ROE, market value\u00a0 added, e creazione di valore [ROE, market value added and value creation]. <em>La valutazione delle aziende<\/em>, 58 (September), 48\u201354.<\/li>\n<li>V\u00e8lez-Pareja I, Magni CA 2009. Potential dividends and actual cash flows in equity valuation. A critical analysis. <a title=\"download paper\" href=\"http:\/\/ssrn.com\/abstract=1095068\"><em>Estudios Gerenciales<\/em> &#8211; <strong><em>Journal of Management and Economics of Iberoamerica<\/em><\/strong><\/a>, 25(113) (October-December), 123\u2012150.<\/li>\n<li>Magni C.A. 2009. Investment decisions, NPV and bounded rationality. <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1049541\"><em>Quantitative Finance<\/em><\/a><\/strong>, 9(8) (December), 967\u2212979.<\/li>\n<li>Malagoli S, Magni CA, Buttignon F, Mastroleo G 2009. Rating and ranking firms with fuzzy expert systems: the case of Camuzzi, <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1027935\"><em>The IUP Journal of Applied Finance<\/em><\/a><\/strong>, 15(10) (November), 63\u221288.<\/li>\n<li>Magni CA, V\u00e8lez-Pareja I 2009. Potential dividends versus actual cash flows in firm valuation. <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1374070\"><em>The ICFAI Journal of Applied Finance<\/em><\/a><\/strong>, 15(7) (July), 51-66.<\/li>\n<li>Magni CA 2009. Opportunity cost, excess profit, and counterfactual conditionals, <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1623807\"><em>Frontiers in Finance and Economics<\/em><\/a><\/strong>, 6(1) (April), 118\u2212154.<\/li>\n<li>Magni CA 2009. Splitting up value: A critical review of residual income theories. <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1268047\"><em>European Journal of Operational Research<\/em><\/a><\/strong>, 198(1) (October), 1\u221222.<\/li>\n<li>Magni CA 2009. Correct or incorrect application of the CAPM? Correct or incorrect decisions with the CAPM?, <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1025998\"><em>European Journal of Operational Research<\/em><\/a><\/strong>, 192(2) (January), 549-560.<\/li>\n<li>Magni CA 2009. Un ombrello logico per la valutazione di azienda: la relazione fondamentale [A logical umbrella for firm valuation: The fundamental relation]. <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1439007\"><em>La valutazione delle aziende<\/em><\/a><\/strong>, 54 (September), 26\u201233.<\/li>\n<li>Magni CA 2008. Economic profit, NPV, and CAPM: biases and violations of Modigliani and Miller\u2019s Proposition I. <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1075462\"><em>The <\/em><em>I<\/em><em>CFAI Journal of Applied Finance<\/em><\/a><\/strong>, 14(10) (October), 59-72.<\/li>\n<li>Magni CA 2008. CAPM-based capital budgeting and nonadditivity. <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1081193\"><em>Journal of Property Investment and Finance<\/em><\/a><\/strong>, 26(5), 388-398.<\/li>\n<li>Magni CA 2007. Project selection and equivalent CAPM-based investment criteria, <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1374603\"><em>Applied Financial Economics Letters<\/em><\/a><\/strong>, 3(3) (May), 165\u2212168.<\/li>\n<li>Magni CA 2007. Project valuation and investment decisions: CAPM versus arbitrage, <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1374592\"><em>Applied Financial Economics Letters<\/em><\/a><\/strong>, 3(2) (March), 137\u2013140.<\/li>\n<li>Malagoli S, Magni CA, Mastroleo G 2007. The use of fuzzy logic and expert systems for rating and pricing firms: a new perspective on valuation, <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1311915\"><em>Managerial Finance<\/em><\/a><\/strong>, 33(11), 836\u2013852.<\/li>\n<li>Magni CA 2006. Ambiguit\u00e0 nell\u2019applicazione del CAPM per la valutazione degli investimenti [Ambiguity in applying the CAPM for investment valuation], <em>Analisi Finanziaria<\/em>, 64, 4\u221214.<\/li>\n<li>Magni CA 2006. Zelig and the art of measuring excess profit, <strong><em><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1028257\">Frontiers in Finance and Economics<\/a><\/em><\/strong>, 3(1) (June), 103\u2013129.<\/li>\n<li>Ghiselli Ricci R, Magni CA 2006. Economic Value Added and Systemic Value Added: Symmetry, additive coherence and differences in performance, <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1439008\"><em>Applied Financial Economics Letters<\/em><\/a><\/strong>, 2(3) (May), 151\u2212154.<\/li>\n<li>Magni CA, Malagoli S, Mastroleo G 2006. An alternative approach to firms\u2019 evaluation: expert systems and fuzzy logic<a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1031965\">, <strong><em>International Journal of Information Technology and Decision Making<\/em><\/strong><\/a>, 5(1), 195\u2212225.<\/li>\n<li>Magni CA 2005. On Decomposing Net Final Values: EVA, SVA and shadow project. <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1320263\"><em>Theory and Decision<\/em><\/a><\/strong><em>, <\/em>59(1), 51\u221295.<\/li>\n<li>Magni CA 2005. La definizione di investimento e il criterio del TIR ovvero: la realt\u00e0 inventata [Definition of investment and the IRR criterion, or: The invented reality], <em>Analisi Finanziaria<\/em>, 58, 4\u221226.<\/li>\n<li>Magni CA, Mastroleo G, Vignola M, Facchinetti G 2004. Strategic options and expert systems: a fruitful marriage<em>,<\/em> <a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1505399\"><em>Soft Computing<\/em><\/a>, 8(3), 179\u2212192.<\/li>\n<li>Magni CA 2004. Modelling excess profit, <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1406722\"><em>Economic Modelling<\/em><\/a><\/strong>, 21, 595\u2212617.<\/li>\n<li>Magni CA 2004. Antinomie e illusioni cognitive nel criterio del valore attuale netto [Antynomies and cognitive illusions in the net-present-value rule], <strong><em>Analisi Finanziaria<\/em><\/strong>, 54, 2 trim. 26\u221242.<\/li>\n<li>Magni CA 2003. Decomposition of Net Final Values: Systemic Value Added and residual income, <strong><a title=\"download paper\" href=\"https:\/\/onlinelibrary.wiley.com\/doi\/10.1111\/1467-8586.00167\"><em>Bulletin of Economic Research<\/em><\/a><\/strong>, 55(2), 149\u2212176.<\/li>\n<li>Magni CA 2002. Investment\u00a0 decisions in the theory of finance: some antinomies and inconsistencies,<strong> <a href=\"http:\/\/www.sciencedirect.com\/science\/article\/pii\/S0377221703006507\"><em>European Journal of Operational Research<\/em><\/a><\/strong> 137(1), 206\u2212217.<\/li>\n<li>Magni CA, Mastroleo G, Facchinetti G 2001. A fuzzy expert system for solving real option decision processes<em>,<\/em> <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1421140\"><em>Fuzzy Economic Review<\/em><\/a><\/strong>, 6 (2), 51\u221273.<\/li>\n<li>Magni CA 2001. Scomposizione di sovraprofitti: Economic Value Added e Valore Aggiunto Sistemico [Excess-profit decomposition: Economic Value Added and Systemic Value Added]<em>, <\/em><strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1140163\"><em>Finanza, Marketing e Produzione<\/em><\/a><\/strong>, 19(4), 94\u2212119.<\/li>\n<li>Magni CA 2001. Valore aggiunto sistemico: un\u2019alternativa all\u2019EVA quale indice di sovraprofitto periodale [Systemic value added: An alternative to EVA as an index of excess profit]<em>, <\/em><strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1103492\"><em>Budget<\/em><\/a><\/strong>, 25, 63\u221271, I trimestre.<\/li>\n<li>Magni CA 2000. Tir, Roe, Van: convergenze formali e concettuali in un approccio sistemico [IRR, ROE and NPV: formal and conceptual convergences in a systemic approach]. <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1104597\"><em>Finanza, Marketing e Produzione<\/em><\/a><\/strong>, 18(4), 31\u221259.<\/li>\n<li>Magni CA 1999. Un criterio strutturalista per la valutazione di investimenti [A structuralist criterion for investment appraisal], <em>Il Risparmio<\/em>, 47(5\/6), set-dic, 781\u2212806<\/li>\n<li>Magni CA 1998. Aspetti quantitativi e qualitativi nella valutazione di un&#8217;opzione di investimento [Quantitative and qualitative aspects in a real-option analysis], <strong><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1267653\"><em>Finanza, Marketing e Produzione<\/em><\/a><\/strong>, 16(3), 123\u2212149.<\/li>\n<li id=\"pro\">Magni CA, Ricci G 1991. Reputazione e credibilit\u00e0 di una minaccia in un gioco di contrattazione [Reputation and credibility of a threat in a bargaining game], <strong><a href=\"http:\/\/link.springer.com\/article\/10.1007\/BF02093651\"><em>Decisions in Economics and Finance<\/em><\/a><\/strong>, 14(2), 31\u221257.<\/li>\n<\/ul>\n<p style=\"text-align: right\">\u00a0<a title=\"start of page\" href=\"#\">Start of page \u25b2<\/a><\/p>\n<h3 style=\"text-align: left\"><span style=\"color: #e73b00\">Conferences<\/span><\/h3>\n<ul>\n<li>Magni CA, Peccati L 2025. Unexpected connections: Financial Mathematics meet Accouting and Corporate Finance. <strong><em>XLIX AMASES Conference\u00a0 (Book of Abstracts)<\/em><\/strong>. Florence, September 11-13.<\/li>\n<li>Kroll Y, Magni CA, Riff S 2025. Beyond traditional metrics: a new approach to measuring the cost of equity home bias of long-term investments. <strong><em>World Finance Conference<\/em><\/strong>, July 28-31, Malta.<\/li>\n<li>Kroll Y, Magni CA, Riff S 2025. Cost of equity home bias across investment horizons: A money-weighted perspective. <strong><em>International Risk Management Conference<\/em><\/strong><em>,<\/em> June 23-24. Bari.<\/li>\n<li>Magni CA, Marchioni A, Baschieri D 2024. Impact of financing and payout policy on the economic profitability of green energy plants. \u00a0<strong><em>1<sup>st<\/sup> Hybrid Workshop on Smart Ports 2024 \u2013 From Theory to Practice: Bridging Technology, Society, and Environment<\/em><\/strong>. December 16, Venice.<\/li>\n<li>Caselli G, Hartman J, Iori M, Magni CA, Zucchi G 2024. Mathematical Programming for a Vehicle Replacement Problem Minimizing Costs and CO2 Emissions.<strong><em> ODS2024, International Conference on Optimization and Decision Science<\/em><\/strong>. September 8-12, Badesi, Italy.<\/li>\n<li>Caselli, Hartman JC, Iori M, Magni CA, Zucchi G 2024. Bi-objective algorithms for a vehicle replacement problem including budget constraints and CO2 emissions minimization. <strong><em>33rd European Conference\u00a0 on Operational Research<\/em><\/strong>. June 30th-July 3rd, Copenaghen, Denmark.<\/li>\n<li>Magni CA, Marchioni A, Baschieri D 2024. The Attribution Matrix and the joint use of Finite Change Sensitivity index and Residual Income for value-based performance measurement. <strong><em>XXV Workshop on Quantitative Finance<\/em><\/strong>, April 11-13, Bologna<\/li>\n<li>Magni CA, Marchioni A, Baschieri D.\u00a0 2023. Financial modelling of solar photovoltaic plants: the assessment of financing and payout policy with Clean FCSI. <strong><em>68th\u00a0Euro\u00a0Working Group for Commodity and Financial Modelling (EWGCFM) Conference<\/em><\/strong>, December 6-8, Abu Dhabi, United Arab Emirates<em>.<\/em><\/li>\n<li>Magni CA, Marchioni A, Baschieri D 2023. A twofold decomposition of value added in terms of decision effects and period effects. <i>XLVII Annual AMASES Conference<\/i>, Milan, Italy, September 20-22.<\/li>\n<li>Caselli G, Hartman J, Iori M, Magni CA, Zucchi G 2023. Optimal vehicle replacement with budget constraints and CO2 emissions minimization. <strong><em>POMS203 International Conference Operations Management and United Nation\u2019s Sustainable Development Goals<\/em><\/strong>. July 15-20, Paris, France.<\/li>\n<li>Magni CA, Marchioni A, Baschieri D 2023. The Attribution Matrix for portfolio performance measurement. <em><strong>XX International Conference on Finance and Banking<\/strong><\/em><strong>, <em>FI BA<\/em><\/strong>, Bucharest, Romania, May 25-26.<\/li>\n<li>Caselli G, Columbu G. Iori M, Magni CA 2022. A Mixed Integer Linear Programming model for CO2 emissions minimization in a waste transfer Facility Location Problem.<strong> <em>10th International Network Optimization Conference<\/em>, <em>INOC<\/em><\/strong>, June 7-10, Aachen, Germany.<\/li>\n<li>Caselli G, Delorme M, Iori M, Magni CA 2022. Decomposition algorithms for a parallel machine scheduling problem with workforce and precedence constraints. <strong><em>ECCO XXXV (European Chapter on Combinatorial Optimization) \u2013 CO 2022 Joint Conference<\/em><\/strong>, June 9-11, and <strong><em>6<sup>th<\/sup> AIRO Young Workshop, Operation Research and Data Science in Public Services<\/em><\/strong>, February 23-25, Rome.<\/li>\n<li>Caselli G, Delorme M, Iori M, Magni CA 2021. Mixed Integer Linear Programming for a Real-World Parallel Machine Scheduling Problem with Workforce and Precedence Constraints. <em><strong>International Conference on Optimization and Decision Science, ODS 2021<\/strong> (<\/em>50th Annual Meeting of AIRO, Italian Operations Research Society). September 14-17, Rome.\u00a0 In Amorosi L, Dell\u2019Olmo P, Lari I (Eds.) <a href=\"https:\/\/dx.doi.org\/10.1007\/978-3-030-95380-5_6\"><em>Optimization in Artificial Intelligence and Data Sciences<\/em><\/a>, AIRO Springer Series, vol. 8, pp. 61-71, Springer, Cham.<\/li>\n<li>Baschieri D,\u00a0 Iori M, Magni CA, Marchioni A,\u00a0 Vezzali D 2021. Smart-meter installation scheduling in the context of water distribution. <strong><em>31<sup>st<\/sup> European Conference on Operational Research<\/em><\/strong>, July 11-14, Athens, Greece.<\/li>\n<li>Campana NP, Zucchi G, Iori M, Magni CA, Subramanian A 2021. An integrated task and personnel scheduling problem to optimize distributed services in hospitals<em>. <\/em>Proceedings of the<a href=\"http:\/\/An Integrated Task and Personnel Scheduling Problem to Optimize Distributed Services in Hospitals\"><em> 23rd International Conference on Enterprise Information Systems (ICEIS 2021)<\/em><\/a>. vol. I, 461-470 (Best Paper Award).\u00a0<a href=\"https:\/\/www.youtube.com\/watch?v=AhU15_g-2J8\">Click here for video presentation<\/a><\/li>\n<li>Bruck BP, Vezzali D, Iori M., Magni CA, Pretolani D 2021.\u00a0 A Decision Support System to evaluate suppliers in the context of Global Service Providers. Proceedings of the <a href=\"https:\/\/youtu.be\/W4Wa_Noi47Q\"><em>23rd International Conference on Enterprise Information Systems (ICEIS 2021)<\/em><\/a>, vol. I, 418-426. <a href=\"https:\/\/www.youtube.com\/watch?v=W4Wa_Noi47Q\">Click here for videopresentation<\/a><\/li>\n<li>Magni CA 2021. Teaching financial statements with the split-screen Matrix. <em>BAFA Accounting Education SIG Conference<\/em>.\u00a0 May 19-21<\/li>\n<li>Magni CA, Baschieri D, Marchioni A 2020.\u00a0Comprehensive financial modeling of solar PV systems. EU PVSEC, <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3722442\"><em>Proceedings of the 37th European PV Solar Energy Conference and Exhibition<\/em><\/a>. September 7-11 (online)<\/li>\n<li>Marchioni A, Magni CA, Baschieri D 2020. Investment and financing perspectives for a solar photovoltaic project. Presentato a <strong><em>Management International Conference<\/em> (MIC 2020)<\/strong>, Ljubljana Slovenia, 12-15 November (online).<\/li>\n<li>Magni CA, Marchioni A\u00a0 2019. Performance measurement and decomposition of value added. Proceedings of the <strong><em>9th International Conference of Financial Engineering and Banking Society<\/em><\/strong>. Prague (May 30-June 1).<\/li>\n<li>Magni CA, Marchioni A\u00a0 2019. The accounting-and-finance of a solar photovoltaic plant: Economic efficiency of a replacement project.\u00a0 <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3351150\">Proceedings of <em>4th International Conference on Energy and Environment: bringing together Engineering and Economics <\/em><\/a>(May 16-17), pp. 40-50. ISBN: 978-989-97050-9-8, ISSN: 2183-3982.<\/li>\n<li>Magni CA, Marchioni A 2018. Project appraisal and the Intrinsic Rate of Return. <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3253956\">Proceeding of<em> the 4th International Conference on Production Economics and Project Evaluation<\/em>, ICOPEV<\/a>, pp. 225&#8211;229. University of Minho, Guimaraes (Portugal), September 20-21.<\/li>\n<li>Magni CA, Veronese P, Graziani R 2016. Chisini mean and a unified approach to capital budgeting criteria<em>. <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2866701\">Nineteenth International Working Seminar on Production Economics<\/a><\/em>, Innsbruck, February 22-26.<\/li>\n<li>Guerra ML, Magni CA, Stefanini L 2012. Average rate of return with uncertainty, \u00a0In Greco S. Bouchon-Meunier B, Coletti G, Fedrizzi M, Matarazzo B, Yager RR (Eds). <em>Advances in Computational Intelligence<\/em>,\u00a0 14<sup>th<\/sup> International Conference on Information Processing and Management of Uncertainty in Knowledge-Based Systems (IPMU 2012). Communications in Computer and Information Science, vol. 300, pp. 64-73, Springer, Berlin-Heidelberg.<\/li>\n<li>Magni CA 2011. Return On Equity, Internal Rate of Return and shareholder value creation. <a title=\"download paper\" href=\"http:\/\/ssrn.com\/abstract=1678057\" target=\"_blank\" rel=\"noopener\"><em>Proceedings of EAA 2011 Annual Congress<\/em><\/a>, Rome 20-22 April, European Accounting Association.<\/li>\n<li>Guerra ML, Magni CA, Stefanini L 2011. Average Internal\u00a0 Rate of Return with interval arithmetic, <strong><em>Proceedings\u00a0 of\u00a0 XXXV AMASES Conference<\/em><\/strong>, \u00a0Pisa.<\/li>\n<li>Magni CA 2011. Using Average Internal Rates of Return for investment performance measurement and attribution. <strong><em>Proceedings of XXXV AMASES Conference<\/em><\/strong>, Pisa.<\/li>\n<li>Magni CA 2010. On the long-standing issue of the Internal Rate of Return: A complete resolution. <a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1622681\" target=\"_blank\" rel=\"noopener\"><em>Proceedings of\u00a0 XXXIV AMASES Conference<\/em><\/a>, Macerata.<\/li>\n<li>Ghiselli Ricci R, Magni CA 2003. Economic value added and systemic value added as competing measures for modelling excess profit. <strong><em>Proceedings of XXVII AMASES Conferences<\/em><\/strong>, Cagliari.<\/li>\n<li>Mastroleo G, Facchinetti G, Magni CA 2001. A proposal for modeling real options through fuzzy expert systems, <strong><em>Proceedings of the 16<sup>th<\/sup> ACM Symposium on Applied Computing (SAC 2001)<\/em><\/strong>, 479-481, Las Vegas (USA), March.<\/li>\n<li>Facchinetti G, Magni CA, Mastroleo G, Vignola M 2001. An application of fuzzy expert systems to strategic investments: The case of Florim S.p.a., Proceedings of the <em><strong>4<sup>th<\/sup> International ICSC Symposia on Soft Computing (SOCO2001) and Intelligent Systems for Industry (ISFI 2001)<\/strong>,<\/em> June 26\u221229, University of Paisley, Scotland, UK.<\/li>\n<li>Facchinetti G, Magni CA, Mastroleo G, Vignola M 2001. Valuing strategic investments with a fuzzy expert system: An Italian case, Proceedings of <em><strong>International Fuzzy Systems Association and The North American Fuzzy Information Processing Society, Joint Conference<\/strong>,<\/em> Vancouver, Canada July 25-28.<\/li>\n<li>Magni CA 2000. Decomposition of a certain cash flow stream: differential systemic value and net final value. Proceedings of <strong><em>XXIV AMASES Conference<\/em><\/strong>, Padenghe.<\/li>\n<li>Magni CA 1997. La trappola del ROE e la tridimensionalit\u00e0 del VAN in un approccio sistemico [The ROE trap and the tridimensionality of NPV in a systemic approach].<em>\u00a0<\/em>Proceedings of<em><strong> XXI AMASES Conference<\/strong>,<\/em> Roma.<\/li>\n<li>Magni CA 1996. Un esempio di opzione di investimento industriale con interazione competitiva e avversione al rischio, Proceedings of <em><strong>XX AMASES Conference<\/strong><\/em>, Urbino.<\/li>\n<li>Magni CA 1995. Un uso delle catene di Markov nella rappresentazione dell&#8217;intensit\u00e0 concorrenziale in un settore economico. Proceedings of<strong><em> XIX AMASES Conference<\/em><\/strong>, Pugnochiuso.<\/li>\n<li id=\"wp\">Magni CA 1994. Un criterio Matrioska nella selezione del portafoglio. Proceedings of<em>\u00a0 <strong>XVIII AMASES Conference<\/strong><\/em><strong>,<\/strong> Modena.<\/li>\n<li>Magni CA 1993. Valore attuale netto e politiche ottimali d&#8217;indebitamento. Proceedings of <strong><em>XVII AMASES Conference<\/em><\/strong>, Ischia.\n<p style=\"text-align: right\"><a title=\"start of page\" href=\"#\">Start of page \u25b2<\/a><\/p>\n<\/li>\n<\/ul>\n<h3><span style=\"color: #e73b00\">Working Papers<\/span><\/h3>\n<ul>\n<li>Columbu G, Magni CA, Baschieri D 2023.\u00a0 Greening the fleet: financial modeling for vechicle replacement in waste management. <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=4645735\">SSRN Working paper<\/a><\/li>\n<li>Magni CA 2019. How to correctly interpret, apply, and generalize the TRM model: Some guidelines for real-life projects. <a href=\"https:\/\/hq.ssrn.com\/submissions\/MyPapers.cfm?partid=343822\">SSRN Working paper<\/a><\/li>\n<li>Magni CA, Martin JD 2018. Defining a reliable multi-period project rate of return. An alternative to IRR. <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3253948\"><em>SSRN Working paper<\/em><\/a><\/li>\n<li>Magni CA 2018. Pamphlet sulla crisi. Come difendersi dalla disinformazione e dal mito dell&#8217;Euro (January 2014) . <a href=\"https:\/\/ssrn.com\/abstract=3212943\"><em>SSRN Working paper<\/em><\/a><\/li>\n<li>Magni CA, Martin JD 2017. The reinvestment rate assumption fallacy. <em><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3090678\">SSRN Working paper<\/a><\/em><\/li>\n<li>Magni CA, Peasnell KV 2015. The term structure of capital values: An accounting-based framework for measuring economic profitability. <a href=\"https:\/\/ssrn.com\/abstract=2656651\"><em>SSRN Working paper<\/em><\/a><\/li>\n<li>Magni CA 2015. ROI and profitability index: A note on managerial performance. <a href=\"https:\/\/ssrn.com\/abstract=2546917\"><em>SSRN Working paper<\/em><\/a><\/li>\n<li>Magni CA 2014. Pseudo-naive approaches to investment performance measurements. <a href=\"https:\/\/ssrn.com\/abstract=2538496\"><em>SSRN Working paper<\/em><\/a><\/li>\n<li>Magni CA, Peasnell KV 2012. Economic profitability and the accounting rate of return. <em><a title=\"download paper\" href=\"http:\/\/ssrn.com\/abstract=2027607\">SSRN Working paper<\/a><\/em>.<\/li>\n<li>Magni CA 2010. Depreciation classes, return on investment and economic profitability. <em><a title=\"download paper\" href=\"http:\/\/ssrn.com\/abstract=1718525\">SSRN Working paper<\/a><\/em>.<\/li>\n<li>Magni CA 2009.\u00a0 Accounting and economic measures: An integrated theory of capital budgeting.\u00a0 <em><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1498106\">SSRN Working paper<\/a><\/em>.<\/li>\n<li>Magni CA 2009. Firm value and the mis-use of the CAPM for valuation and decision making,\u00a0 <a title=\"download paper\" href=\"Applied%20Economics Research Bulletin Peer-Reviewed Working Paper Series\" target=\"_blank\" rel=\"noopener\"><em>Applied Economics Research Bulletin Peer-Reviewed Working Paper Series<\/em><\/a><em>.<\/em><\/li>\n<li>Magni CA 2007. A Sum&amp;Discount method of appraising firms: An illustrative example. Working paper n. 572, <em><a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1033522\">Dipartimento di Economia Politica<\/a><\/em>, Modena.<\/li>\n<li>Magni CA 2005. Theoretical flaws in the use of CAPM for investment decisions. Working paper n. 511, <em>Dipartimento di Economia Politica<\/em>, Modena.<\/li>\n<li>Magni CA 2005. Reasoning the \u2018net-present-value\u2019 way: Biases and how to use psychology for falsifying decision models, Working paper n. 496, <em>Dipartimento di Economia Politica,<\/em> Modena.<\/li>\n<li>Magni CA 2005. Norms of rationality and investment decisions: CAPM, arbitrage and description invariance. Working paper n. 503, <em>Dipartimento di Economia Politica<\/em>, Modena.<\/li>\n<li>Magni CA 2005. The use of NPV and CAPM for capital budgeting is not a good idea. A Reply to De Reyck (2005), <em>Materiali di discussione<\/em>, n. 495, <a title=\"download paper\" href=\"http:\/\/papers.ssrn.com\/abstract=1411221\"><em>Dipartimento di Economia Politica<\/em><\/a>, Modena.<\/li>\n<li>Facchinetti G., Magni C. A., Mastroleo G. 2000. Real options: a fuzzy approach for strategic investments, Working paper, n. 321, <em>Dipartimento di Economia Politica<\/em>, Modena.<\/li>\n<li>Magni CA 2000. Systemic Value Added, Residual Income and Decomposition of a Cash Flow Stream, Working paaper n. 318, <em>Dipartimento di Economia Politica<\/em>, Modena.<\/li>\n<li>Magni CA 1998. Pictures, Language and Research: The case of Finance and Financial Mathematics, Working paper n. 245, <em>Dipartimento di Economia Politica<\/em>, Modena.<\/li>\n<li>Magni CA 1998. Note sparse sul dilemma del prigioniero (e non solo) [Scattered notes on the prisoner\u2019s dilemma (and others)], Working paper n. 242, <em>Dipartimento di Economia Politica<\/em>, Modena.<\/li>\n<li>Magni CA 1998. A systemic rule for investment decisions: generalizations of the traditional DCF criteria and new conceptions, Working paper n. 237, <em>Dipartimento di Economia Politica<\/em>, Modena.<\/li>\n<li>MagniCA 1997. Critica alla definizione classica di investimento: un approccio sistemico, Working paper n. 211, <em>Dipartimento di Economia Politica<\/em>, Modena.<\/li>\n<li>Magni CA 1997. IRR, ROE and NPV: a systemic approach, Working paper n. 208, <em>Dipartimento di Economia Politica<\/em>, Modena.<\/li>\n<li>Magni CA 1997. Paradossi, inverosimiglianze e contraddizioni del VAN: operazioni aleatorie<em>,<\/em> Working paper n. 204, <em>Dipartimento di Economia Politica<\/em>, Modena.<\/li>\n<li>Magni CA 1997. Paradossi, inverosimiglianze e contraddizioni del VAN: operazioni certe, Working paper n. 177, <em>Dipartimento di Economia Politica<\/em>, Modena.<\/li>\n<li>Magni CA 1996. Un semplice modello di opzione di differimento e di vendita in \u00e0mbito discreto<em>, <\/em>Working paper \u00a0n. 158, <em>Dipartimento di Economia Politica<\/em>, Modena.<\/li>\n<li>Magni CA 1996. Opzioni reali d&#8217;investimento e interazione competitiva: programmazione dinamica stocastica in optimal stopping, Working paper n. 129, <em>Dipartimento di Economia Politica<\/em>, Modena.<\/li>\n<li>Magni CA 1996. Repeatable and una tantum real options: a dynamic programming approach, Working paper n. 128, <em>Dipartimento di Economia Politica<\/em>, Modena.<\/li>\n<\/ul>\n<p style=\"text-align: right\"><a title=\"start of page\" href=\"#\">Start of page \u25b2<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Books Journals Conferences Working Papers Books Magni CA 2020. Investment Decisions and the Logic of Valuation. Linking Finance, Accounting, and Engineering. Springer Nature. Cham, Switzerland. &lt;page&gt; Magni CA 2025. Pianificazione finanziaria e analisi degli investimenti. Un approccio metodologico unificato e<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-712","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Research - Carlo Alberto Magni<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/morespace.economia.unimore.it\/carloalbertomagni\/research-2\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Research - Carlo Alberto Magni\" \/>\n<meta property=\"og:description\" content=\"Books Journals Conferences Working Papers Books Magni CA 2020. Investment Decisions and the Logic of Valuation. Linking Finance, Accounting, and Engineering. Springer Nature. Cham, Switzerland. &lt;page&gt; Magni CA 2025. Pianificazione finanziaria e analisi degli investimenti. 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