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The design of pension pay out options when the health status during retirement is uncertain
Kifmann, Mathias (contributor) - 2008
Persistent link: https://www.econbiz.de/10003635223
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Effects of tax depreciation rules on firms' investment decisions in an inflationary phase : comparison of net present values in selected OECD countries
Nam, Chang-woon - 2001
This study compares incentive effects of various tax depreciation methods which are currently employed in selected OECD countries. Their generosity is determined on the basis of Samuelson s true economic depreciation. For this purpose, the present value model is applied. The central issue is...
Persistent link: https://www.econbiz.de/10011399561
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Wicksellian theory of forest rotation under interest rate variability
Alvarez, Luis H. R.; Koskela, Erkki - 2001
The current literature on optimal forest rotation makes the assumption of constant interest rate. However, the irreversible harvesting decisions of forest stands are typically subject to relatively long time horizons over which interest rates do fluctuate considerably. In this paper we apply the...
Persistent link: https://www.econbiz.de/10011400915
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Types of tax concessions for attracting foreign direct investment in free economic zones
Nam, Chang-woon; Radulescu, Doina - 2004
Not only transition countries but also a large number of developing (and developed) countries have established free economic zones (FEZs) with the aim of attracting foreign capital by providing tax incentives, creating employment opportunities and promoting exports as well as regional...
Persistent link: https://www.econbiz.de/10011402452
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Does debt maturity matter for investment decisions?
Nam, Chang-woon; Radulescu, Doina - 2004
In the conventional literature related to investment decisions, less attention has been paid to the length of maturity when investment is debt-financed. In such a case a firm pays the creditor not only the sum of annual interest (initial investment cost multiplied by real interest rate) for the...
Persistent link: https://www.econbiz.de/10011402695
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Expected net present value, expected net future value, and the Ramsey rule
Gollier, Christian - 2009
Weitzman (1998) showed that when future interest rates are uncertain, using the expected net present value implies a term structure of discount rates that is decreasing to the smallest possible interest rate. On the contrary, using the expected net future value criterion implies an increasing...
Persistent link: https://www.econbiz.de/10003850252
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Learning, structural instability and present value calculations
Pesaran, M. Hashem (contributor);  … - 2006
Present value calculations require predictions of cash flows both at near and distant future points in time. Such predictions are generally surrounded by considerable uncertainty and may critically depend on assumptions about parameter values as well as the form and stability of the data...
Persistent link: https://www.econbiz.de/10003300967
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Hedging climate change news
Engle, Robert F.; Giglio, Stefano; Lee, Heebum; Kelly, … - 2019 - This version: May 7, 2019
exposures. We show that this approach yields parsimonious and industry-balanced portfolios that perform well in hedging …
Persistent link: https://www.econbiz.de/10012024377
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Managerial hedging and portfolio monitoring
Bisin, Alberto (contributor); Gottardi, Piero (contributor);  … - 2004
using financial markets and shareholders cannot perfectly monitor the managers̕ portfolio in order to keep him from hedging … monitoring is costly governance is imperfect. If managerial hedging is detected, shareholders can seize the payoffs of the …) conditional on the firms̕ performance, the managers̕ compensation is lower when his portfolio is monitored, even if no hedging is …
Persistent link: https://www.econbiz.de/10002521243
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Volatility connectedness on the Central European forex markets
Albrecht, Peter; Kočenda, Evžen - 2023
robust with respect to a volatility measure and provide direct policy implications for portfolio composition and hedging. …
Persistent link: https://www.econbiz.de/10014414188