Risk, in a financial sense, is defined as variance about some forecasted value. Any time a business appraiser forecasts future cash flows of any sort, these future value estimates are actually means of all likely cash flows in that particular year. The same holds true with discount rate...

В статье рассматривается одно из возможных направлений совершенствования системы межбюджетных отношений на основе отказа от формальных принципов и...

In buildings with heating, ventilation, and air-conditioning (HVAC), the Predicted Mean Vote index (PMV) was successful at predicting comfort conditions, whereas in naturally ventilated buildings, only adaptive models provide accurate predictions. On the other hand, permeable coverings can be...

The renewal of Marx's interpretation of capitalist society implies the recovery and development of his Theory of Value. The stream of thought known as Abstract Labour Theory of Value, or New Interpretation, proposes to do this, and points out that value is a category that is formed in the...

This paper shows that the ‘New Approach’ to the ‘problem of transforming values into prices’, first, is subjected to a crucial logical inconsistency and second, is not in a position to deal with the heterogeneous labour case. Thus, the paper proposes an approach, which overcomes these...

The estimation of the discount rate for an investment project in conditions of risk relies upon two crucial assumptions: market completeness and well-diversified investors. Although, these two assumptions are tenable in developed capital markets, they are not suitable in emerging markets. In...

Investment decisions in research and development (R&D) are important to the success of organizations, especially for public research. This paper evaluates an R&D project (seed breeding) using the traditional method, the Net Present Value, and the more contemporaneous technique of real options....

This study evaluates a proposed investment in wind power generation using real options from the regulatory framework applicable to the German market (Europe's largest producer of renewable energy). For this evaluation, we have modelled the primary uncertainties affecting the project and we have...

Financial leasing is prevalent in many projects in the oil and energy industries. Examples are tariff payments in existing pipelines, processing tariffs, leasing of rigs and leasing of LNG transportation ships. A common mistake among oil companies in such settings is to treat financial leasing...