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Is Leverage Effective in Increasing Performance Under Managerial Moral Hazard?
Calcagno, R. - Tilburg University, Center for Economic Research - 2000
firm value.We study the effect of financing the project with risky debt in changing the incentive for a risk …
Persistent link: https://www.econbiz.de/10011091167
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Brown Backstops versus the Green Paradox (Revision of CentER DP 2011-076)
Michielsen, T.O. - Tilburg University, Center for Economic Research - 2011
Anticipated and unilateral climate policies are ineffective when fossil fuel owners respond by shifting supply intertemporally (the green paradox) or spatially (carbon leakage). These mechanisms rely crucially on the exhaustibility of fossil fuels. We analyze the effect of anticipated and...
Persistent link: https://www.econbiz.de/10011092656
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Adaptation Effectiveness and Free-Riding Incentives in International Environmental Agreements
Benchekroun, H.; Marrouch, W.; Ray Chaudhuri, A. - Tilburg University, Center for Economic Research - 2011
While an international agreement over the reduction of greenhouse gases (GHGs) emissions proves to be elusive, there is a large and growing support for investment in developing more effective technologies to adapt to climate change. We show that an increase in effectiveness of adaptation will...
Persistent link: https://www.econbiz.de/10011090522
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'The Voracity Effect' and Climate Change : The Impact of Clean Technologies
Benchekroun, H.; Ray Chaudhuri, A. - Tilburg University, Center for Economic Research - 2010
In the absence of a successful international cooperative agreement over the control of emissions there is a growing interest in the role that clean technologies may play to alleviate the climate change problem. Within a non-cooperative transboundary pollution game, we investigate, analytically...
Persistent link: https://www.econbiz.de/10011091386
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Climate Change, Economic Growth, and Health
Magnus, Jan R.; Ikefuji, M.; Sakamoto, H. - Tilburg University, Center for Economic Research - 2010
This paper studies the interplay between climate, health, and the economy in a stylized world with four heterogeneous regions, labeled ‘West’ (cold and rich), ‘China’ (cold and poor), ‘India’ (warm and poor), and ‘Africa’ (warm and very poor). We introduce health impacts into a...
Persistent link: https://www.econbiz.de/10011091564
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Structural RFV : Recovery Form and Defaultable Debt Analysis
Guha, R.; Sbuelz, A. - Tilburg University, Center for Economic Research - 2003
values.We incorporate RFV into an exogenous boundary structural credit risk model and compare its e ect to more typical … credit risk models.We show that some features of existing structural models are a result of the recovery form assumed in the …
Persistent link: https://www.econbiz.de/10011092403
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Competition for Traders and Risk
boone, jan; Bijlsma, M.; Zwart, G. - Tilburg University, Center for Economic Research - 2012
risk, even if banks fully internalize the costs of negative outcomes. In this way, banks can reduce the surplus they have … unambiguously lead to reduced risk-taking by their top traders. …
Persistent link: https://www.econbiz.de/10011091254
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Public-Private Partnerships : Risk Allocation and Value for Money
Renneboog, Luc; Miranda Sarmento, J. - Tilburg University, Center for Economic Research - 2014
principles of risk allocation and valuation from an academic and public sector perspective. Both the private and public sector … consider risk allocation to be a critical issue with respect to PPPs and VfM generation, although governments adopt a less … complex approach to risk measurement. This paper analyses papers, case-studies, and reports concerning VfM from PPPs and …
Persistent link: https://www.econbiz.de/10011092336
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Analyzing specification errors in models for futures risk premia with hedging pressure
Nijman, Theo; de Roon, F.A.; Veld, C.H. - Tilburg University, Center for Economic Research - 1997
Persistent link: https://www.econbiz.de/10011092594
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Relaxing Competition through Speculation : Committing to a Negative Supply Slope
Holmberg, P.; Willems, Bert - Tilburg University, Center for Economic Research - 2012
Abstract: We demonstrate how suppliers can take strategic speculative positions in derivatives markets to soften competition in the spot market. In our game, suppliers first choose a portfolio of call options and then compete with supply functions. In equilibrium firms sell forward contracts and...
Persistent link: https://www.econbiz.de/10011092737