En este documento se propone un modelo binomial para valorar empresas, proyectando y condicionando escenarios de continuidad o liquidación de la firma. El modelo se basa en la Teoría de Opciones Reales para estimar el valor de la firma, que resulta de un balance explícito de las ventajas y...

Si bien es amplia la literatura que se ha dedicado a estudiar los hechos estilizados en las series de los rendimientos, para el caso colombiano solamente existe un trabajo que documenta estos hechos. Alonso y Arcos (2006) documentaron la presencia de cuatro hechos estilizados en la serie de los...

The paper addresses issues related to education management operation that determines the principles and requires an interdisciplinary approach, studying events that occur in the decision to organize a determined pedagogical activity and the management of educational programs. Managerial...

If we find life on another world, it will be an extremely important discovery and we will have to take great care not to do anything that might endanger that life. If the life we find is sentient we will have moral obligations to that life. Whether it is sentient or not, we have a duty to...

Exoplanets are born and evolve in the radiation and particle environment created by their host star. The host star’s optical and infrared radiation heats the exoplanet’s lower atmosphere and surface, while the ultraviolet, extreme ultraviolet and X-radiation control the photochemistry and...

Geoengineering, the deliberate large-scale manipulation of the planetary environment to counteract anthropogenic climate change, has been more widely considered as an accompanying strategy to conventional climate change mitigation measures to combat global warming. However, this approach is far...

Much of the literature on the economics of mortgage markets has studied the FRM-ARM choice made by individual borrowers. However, to decide if the outcome of such a choice is efficient or approximately so, it is necessary to explore the question of optimal risk-sharing in mortgage contracts. But...

Den här rapporten analyserar Sveriges val mellan en optimal anpassning till EG och medlemskap med hänsyn till värdet av svenskt manöverutrymme respektive inflytande på EGs beslut. Vad gäller handelspolitiken kan Sverige i teorin vara mer öppet utanför EG, men i praktiken förhindras...

The author highlights the fact that the rationalist paradigm which initiated the social construction of the normative character of the town and country planning issue, is not valid. This leads to one?s wondering about the presuppositions inherent in both research and town and country planning...

Evidence from a half century of experience by U.S. states identifies nonlinearities in the effects of debt and fiscal policy on growth. Effects are Keynesian for low to moderate levels of debt and stimulus but anti Keynesian for sufficiently high levels of debt or stimulus. Results are broadly...