Purpose – The purpose of this paper is to propose a feasible model for the daily average temperatures of Beijing, Shanghai and Shenzhen, in order to price temperature‐based weather derivatives; also to derive analytical approximation formulas for the sensitivities of these contracts....

Purpose – The purpose of this study is first to evaluate whether real options analysis (ROA) is suitable for valuing green building certificates, and second to calculate the real option value of a green certificate in a typical office building setting. Green buildings are demonstrated as one...

Purpose – This paper aims to propose a management model of public assets within public-private partnerships which can be applied to properties subject to a possible requalification through the redevelopment and/or modification of the intended use. Design/methodology/approach – The logic...

Purpose – The most problematic area of any carbon policy debate is the treatment of incumbent CO2 intensive coal‐fired electricity generators. Policy applied to the electricity sector is rarely well guided by macroeconomic theory and modeling alone, especially in the case of carbon where the...

Purpose – This paper aims to present a multi-period dynamic power project financing model to produce pragmatic estimates of benchmark wholesale power prices based on the principles of normal profit. This, in turn, can guide policymakers as to whether price spikes or bidding above marginal cost...

Purpose – The paper seeks to develop an analytical theory of project investment. Design/methodology/approach – The authors derive a partial differential equation that the variable cost of a project should satisfy, determine a proper initial condition through a thought experiment, and solve...

Purpose – The purpose of this paper is to identify changes in bank lending criteria due to the global financial crisis (GFC) and to explore the associated impacts on new housing supply in Queensland, Australia. Design/methodology/approach – This research involves a survey of each of...

Purpose – The purpose of this paper is to report on the results of a survey conducted in Ghana and advances knowledge on determinants of contractors' capital investment financing strategy. Design/methodology/approach – The empirical investigation was conducted using survey questionnaire. The...

Purpose – Public private partnerships (PPP) projects are characterised by highly leveraged capital structure. Lenders who provide the major portion of financing in the form of debt are more concerned with the downside risks and the measures to mitigate the risks. Lenders, thus, look into the...

Purpose – A project delivery system (PDS) refers to the organizational framework of a project that defines the control mechanisms and the relationships between actors and their incentives. It is of major importance to the project owner as it, for instance, contributes to the project's level of...