Jørgensen, Peter Løchte; De Giovanni, Domenico - Ehrvervøkonomisk Institut, Institut for Økonomi - 2008
The paper studies the valuation and optimal management of Time Charters with Purchase Options (T/C-POPs) which is a specific type of asset lease with embedded options that is common in shipping markets. T/C-POPs are economically significant and sometimes account for more than half of the stock...