Political risk insurance is an insurance product sold to firms as a means to protect them against some political risks associated with investing abroad. This paper argues that political risk insurance may in fact be a source of political risk. Looking at cases in the Asia-Pacific region, we...

Purpose The purpose of this paper is to propose a decision-support methodology for public and private subjects involved in the enhancement of public properties. In particular, with reference to cases in which the disused public property can be sold and the range of functions that define the...

This paper critically assesses the relative merits of indirect and direct methods of international property investment. Despite similarities in the underlying asset base, each offers different qualities in terms of information costs, diversification, management and transaction costs, liquidity,...

Purpose – The need for flexibility between organisational units is well established in corporate real estate. While the cost of flexibility is rather straightforward to approximate, measuring economical value of the flexibility is not straightforward. The purpose of this paper is to explore...

Purpose – This paper aims to present a financial valuation framework based on the real options theory to evaluate investments in toll road projects delivered under the two‐phase development plan. Design/methodology/approach – The approach is based on applying the real options theory to...

Purpose – This paper, being complementary to existing perspectives, aims to examine the behaviors and the strategies of production migration of polluting firms from an economic point of view under appropriate decision conditions in terms of uncertain influence of supply chain support and green...

Abstract Stringent environmental taxes in high-income countries are assumed to drive dirty industries to low-income countries, but the empirical evidence for ``pollution havens" is surprisingly weak. We demonstrate that a government trying to prevent flight by a ``dirty" durable good monopolist...

Abstract We study how local environmental pollution affects spatial patterns of economic activities when workers can migrate. Based on a New Economic Geography model, we analytically characterize the stability conditions for three different types of equilibria: symmetric spreading, partial and...

Benefit-cost analysis is required for many regulatory decisions in the United States and in other countries. In this paper, I examine a standard textbook model that is used in benefit-cost analysis as it is actually applied to environmental policy and other areas of regulation. My primary...

Summary The study focuses on testing the hypothesis that the subsidy system of the Common Agricultural Reform in 1992 (CAP’92) drove to changes in farm efficiency towards the thereby claimed objectives. With sequential applications of semiparametric methods we succeed to identify the impact of...